• Korean Management Science Review
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• v.30 no.2
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• pp.79-95
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• 2013

In this study, we empirically examine the impact of win-win growth effort of domestic large firms on their financial performance. Specifically, we classify the financial performance into three aspects such as profitability, stability and efficiency, select corresponding financial ratios to each aspect, and analyze the causal relationship between the firms' win-win growth effort and each of the financial ratios. In addition, we figure out the impact of the firms' win-win growth effort on their stock rate of return. From the analysis, we show that the win-win growth effort has a positive impact on the firms' profitability, stability and stock prices; however, it does not give statistically significant impact on the firms' efficiency with even negative impact on it. These results imply that the firms' win-win growth effort could bring about inefficiency in their business operations, but the effort could increase the firms' profitability and make their financial structure more stable. Furthermore, the effort could enhance the firms' image of leading CSR (corporate social responsibility), which in turn increase their stock values.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.37 no.4
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• pp.245-250
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• 2014

The purpose of this study is to introduce a empirical study of using Taguchi Method for the Entrepreneurial Orientation and Financial Performance. In this study, three factors of Entrepreneurial Orientation, innovation, pro-activity and risk taking, are used of the control factors and an element, period of establishment, is chosen as a noise factor. In order to carry out this research, we obtained 200 survey sheets and performed the reliability and validity analysis of the questionnaires and then the experiment was conducted by Taguchi's experimental design. To improve Financial Performance under the noise factor of period of establishment, optimal condition are as follows; the two factors of Entrepreneurial Orientation, innovation, pro-activity should be maintained to a high level. Also, other factor, risk taking should be performed as the level that the company has maintained. Through this paper, we find out that Taguchi method is applicable for analysis of questionnaire.

• Journal of the Korean Society for Railway
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• v.18 no.1
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• pp.81-86
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• 2015

Assets are an essential part of a railway financial position and income state. The Railway industry, SOC, has characteristics of possessing vast tangible assets and incurring vast asset-related-costs. For higher liquidity and profitability, the railway industry need more active asset management. Since 2011, IFRS has its changed accounting method for tangible assets, this has subsequently affected asset management. As the railway industry has a high portion of tangible assets, the accounting method for tangible assets is very important. This paper analyzes the newly adopted accounting method for tangible assets and proposes LCC for effective asset management.

• The Journal of Information Technology and Database
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• v.1 no.2
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• pp.37-52
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• 1994

오늘날의 정보시스템 구축 방향은 대형 컴퓨터를 중심으로 수많은 단말기를 연결한 수직형네트워크 시스템에서 다운사이징과 네트워크 기술이 결합하여 분산적으로 자료를 처리하는 클라이언트/서버 시스템 구축으로 변화하고 있다. 본 연구는 모든 단말기를 통제하는 대형 컴퓨터를 운영하는 전산망에서 클라이언트/서버 전산망으로 전환하는 하나의 사례연구를 통하여 구축환경변화, 시스템구성, 경영환경변화를 분석함으로써 클라이언트/서버 시스템의 성공적인 사례를 제시하는 것이다. 클라이언트/서버 시스템으로 변환하기전에 재개발할 시스템의 목표와 방향을 설정하기 위해서 벤치마킹을 실시하였고, 이의 결과를 바탕으로 경영업무의 프로세스를 재설계 하였다. 그리고 기업의 내부와 외부자료에 관한 표준화를 실시하였다. 정보기술 투자의 경제성과 경쟁우위 확보를 위하여 클라이언트/서버 시스템을 구현하게 되었으며 판매물류, 생산물류, 그리고 재무회계에 관한 경영지원시스템으로 구성되는 종합물류시스템 이외에 영업소에 관련된 영업정보시스템과 자동창고시스템이 컴퓨터 네트워크와 관련해서 시스템을 구성하였다. 구성 전략 촛점은 리엔지니어링, 다운사이징, 그리고 벤치마킹이었다. 시스템을 재개발한 후 업무의 계획, 진행, 분석, 감리등에 관한 체계적 업무흐름이 정착될 정도로 변화하였으며, 통신방식의 확대 및 다양화로 의사소통의 원활화와 타 관련업무와 연계처리, 그리고 부서들 상호간에 정보를 공유할 수 있었다. 또한 정보기술에 의한 업무처리를 기본으로 하는 기능적 태도로 인하여 관리자와 실무자의 업무운영에 관한 사고와 의식이 변화하였다. 따라서 매출액의 증가와 종업원수가 감소되었다.

• Journal of the Korea Safety Management & Science
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• v.24 no.2
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• pp.97-104
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• 2022

This study examines the effects of participation purpose, corporate readiness, and acceptance of changes that may occur in the course of expert guidance on the performance of smart factory. For this study, 129 questionnaires obtained from SMEs participating in the Smart Meister support project were used, and SPSS 18.0 and the AMOS 18.0 program were used for statistical processing for empirical analysis of the hypotheses test. It was found that the company's business participation motivation and readiness status had a significant effect on the acceptance and cooperation of changes that occurred during the consulting process. In addition, the acceptance and cooperation of changes within the company had a significant effect on the satisfaction with the Meister support project and the financial performance. Companies participating in the Meister support project need to clarify their motives for participating in the project and make stable corporate readiness in advance. In addition, based on the CEO's support, it is necessary to have a motivational program and to build an organizational culture that can actively accept innovation.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.13 no.3
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• pp.85-98
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• 2018

This study aims to investigate the effects of venture & inno-biz companies' technological innovation competences on technological performances and economic competitive advantage, using VRIO framework. The empirical data for this study were based on the technology assessment results of Korea Technology Finance Corporation (KOTEC) on 3,462 venture & inno-biz companies and the following 2 years' financial data. Sample companies with technological innovation resources, such as technology management strategy(Value), differentiation of technology(Rarity), imitation difficulty of technology(Imitability) and technical organization capability(Organization), made efforts to expand their intellectual property rights, technological development and commercialization of new products, thereby ensuring technological competitive advantage. Furthermore, technological competitive advantage were proved to improve sales growth, increase in operating revenue, and financial soundness. Compared with four VRIO factors' influence on business performance, imitation difficulty of technology(Imitability) and organization technological capability(Organization) had much more influence than any other internal resources or capabilities respectively.

• Journal of Intelligence and Information Systems
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• v.29 no.2
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• pp.241-265
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• 2023

A corporate insolvency prediction model serves as a vital tool for objectively monitoring the financial condition of companies. It enables timely warnings, facilitates responsive actions, and supports the formulation of effective management strategies to mitigate bankruptcy risks and enhance performance. Investors and financial institutions utilize default prediction models to minimize financial losses. As the interest in utilizing artificial intelligence (AI) technology for corporate insolvency prediction grows, extensive research has been conducted in this domain. However, there is an increasing demand for explainable AI models in corporate insolvency prediction, emphasizing interpretability and reliability. The SHAP (SHapley Additive exPlanations) technique has gained significant popularity and has demonstrated strong performance in various applications. Nonetheless, it has limitations such as computational cost, processing time, and scalability concerns based on the number of variables. This study introduces a novel approach to variable selection that reduces the number of variables by averaging SHAP values from bootstrapped data subsets instead of using the entire dataset. This technique aims to improve computational efficiency while maintaining excellent predictive performance. To obtain classification results, we aim to train random forest, XGBoost, and C5.0 models using carefully selected variables with high interpretability. The classification accuracy of the ensemble model, generated through soft voting as the goal of high-performance model design, is compared with the individual models. The study leverages data from 1,698 Korean light industrial companies and employs bootstrapping to create distinct data groups. Logistic Regression is employed to calculate SHAP values for each data group, and their averages are computed to derive the final SHAP values. The proposed model enhances interpretability and aims to achieve superior predictive performance.

• The Journal of Society for e-Business Studies
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• v.15 no.3
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• pp.1-23
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• 2010

It is crucially important to exchange and manage the financial information of an organization for the reason of complexity and diversity of information caused by its implicit information involved. Especially, according to the development of information technology, various approaches appeared to manage financial data of organization. For example, XBRL (Extensible Business Reporting Language) is one of the technologies dealing with the above criteria. Basically, XBRL is a business reporting language to define and exchange financial information, such as a financial statement of organization. XBRL is an international standard which enables the exchange of information between information providers and consumers by adding the tags involving the information of circumstantial factors of data. However, XBRL is not able to describe semantics because XBRL is fundamentally based on XML(Extensible Markup Language) having the purpose of expressing and structuring data. Therefore, this paper aims to enable semantic information to XBRL through the semantic technology. The objective of this paper is an ontologization of the knowledge to perform sharing, reusing, discovering, and inferring the knowledge described and conducted by XBRL. In order to achieve the above objective, this paper suggests the methodology for the ontologization of the category and instance document of XBRL. Furthermore, this paper points out the possibility of suggested methodology in a practical business through indicating the advantages of the knowledge described by XBRL.

• The Journal of the Korea Contents Association
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• v.21 no.11
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• pp.320-332
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• 2021

This paper investigates the influence of stock-level left-tail risk, which is defined using Value-at-Risk(VaR) estimates of past one-year daily stock returns, in the expected stock returns in the Korean stock market. Our results are summarized as follows: First, monthly-constructed zero-cost portfolios that buy (shortsell) the highest (lowest) left-tail risk decile in the previous month exhibit an average monthly return (called left-tail risk premium) of -2.29%. Second, Fama-MacBeth cross-sectional regressions suggest that left-tail risk in the previous month shows significant and negative explanatory power over return in this month, after controlling for various firm characteristics such as firm size, B/M, market beta, liquidity, maximum daily return, idiosyncratic volatility, and skewness. Third, the stocks with larger recent month loss have lower returns in the next month. Fourth, the magnitude of left-tail risk premium is negatively related with lagged market-level volatility. These results support the hypothesis from a perspective of behavioral finance that the overpricing of stocks with left-tail risk is attributed to the investors' underreaction to it.

• Journal of Distribution Research
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• v.17 no.4
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• pp.55-80
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• 2012

I. Introduction Developing the relationships between companies is very important issue to ensure a competitive advantage in today's business environment (Bleeke & Ernst 1991; Mohr & Spekman 1994; Powell 1990). Partnerships between companies are based on having same goals, pursuing mutual understanding, and having a professional level of interdependence. By having such a partnerships and cooperative efforts between companies, they will achieve efficiency and effectiveness of their business (Mohr and Spekman, 1994). However, it is difficult to expect these ideal results only in the B2B corporate transaction. According to agency theory which is the well-accepted theory in various fields of business strategy, organization, and marketing, the two independent companies have fundamentally different corporate purposes. Also there is a higher chance of developing opportunism and conflict due to natures of human(organization), such as self-interest, bounded rationality, risk aversion, and environment factor as imbalance of information (Eisenhardt 1989). That is, especially partnerships between principal(or buyer) and agent(or supplier) of companies within supply chain, the business contract itself will not provide competitive advantage. But managing partnership between companies is the key to success. Therefore, managing partnership between manufacturer and supplier, and finding causes of conflict are essential to improve B2B performance. In conclusion, based on prior researches and Agency theory, this study will clarify how business hazards cause conflicts on supply chain and then identify how developed conflicts have been managed by two control mechanisms. II. Research model III. Method In order to validate our research model, this study gathered questionnaires from small and medium sized enterprises(SMEs). In Korea, SMEs mean the firms whose employee is under 300 and capital is under 8 billion won(about 7.2 million dollar). We asked the manufacturer's perception about the relationship with the biggest supplier, and our key informants are denied to a person responsible for buying(ex)CEO, executives, managers of purchasing department, and so on). In detail, we contact by telephone to our initial sample(about 1,200 firms) and introduce our research motivation and send our questionnaires by e-mail, mail, and direct survey. Finally we received 361 data and eliminate 32 inappropriate questionnaires. We use 329 manufactures' data on analysis. The purpose of this study is to identify the anticipant role of business hazard (environmental dynamism, asset specificity) and investigate the moderating effect of control mechanism(formal control, social control) on conflict-performance relationship. To find out moderating effect of control methods, we need to compare the regression weight between low versus. high group(about level of exercised control methods). Therefore we choose the structural equation modeling method that is proper to do multi-group analysis. The data analysis is performed by AMOS 17.0 software, and model fits are good statically (CMIN/DF=1.982, p<.000, CFI=.936, IFI=.937, RMSEA=.056). IV. Result V. Discussion Results show that the higher environmental dynamism and asset specificity(on particular supplier) buyer(manufacturer) has, the more B2B conflict exists. And this conflict affect relationship quality and financial outcomes negatively. In addition, social control and formal control could weaken the negative effect of conflict on relationship quality significantly. However, unlikely to assure conflict resolution effect of control mechanisms on relationship quality, financial outcomes are changed by neither social control nor formal control. We could explain this results with the characteristics of our sample, SMEs(Small and Medium sized Enterprises). Financial outcomes of these SMEs(manufacturer or principal) are affected by their customer(usually major company) more easily than their supplier(or agent). And, in recent few years, most of companies have suffered from financial problems because of global economic recession. It means that it is hard to evaluate the contribution of supplier(agent). Therefore we also support the suggestion of Gladstein(1984), Poppo & Zenger(2002) that relational performance variable can capture the focal outcomes of relationship(exchange) better than financial performance variable. This study has some implications that it tests the sources of conflict and investigates the effect of resolution methods of B2B conflict empirically. And, especially, it finds out the significant moderating effect of formal control which past B2B management studies have ignored in Korea.