• The Korean Journal of Financial Management
• /
• 제23권1호
• /
• pp.243-266
• /
• 2006

This paper tests cross hedging performance of the KOSPI 200 stock index futures to hedge the downside risk of the KOSPI, KOSPI 200 and KOSDAQ50 spot market. For this purpose we introduce the minimum variance hedge model, bivariate GARCH(1,1) and EGARCH(1,1) model as hedge models. The main results are as follows; First, we find that the direct hedge performance of KOSPI 200 index futures is better than those of indirect hedge performance. second, in case or cross hedge performance the hedge effect of KOSPI 200 stock index futures market against KOSPI 200 stock index spot market is relatively better than those of KOSPI 200 index futures against KOSPI and KOSDAQ spot position. Third, for the out-sample, hedging effectiveness of the risk-minimization with constant hedge ratios is higher than those of the time varying bivariate GARCH(1,1) and EGARCH(1,1) model. In conclusion, investors are encouraged to use simple risk-minimization model rather than the time varying hedge models like GARCH and EGARCH model to hedge the position of the Korean stock index cash markets.

• Knowledge Management Research
• /
• 제24권3호
• /
• pp.127-148
• /
• 2023

Traditional Business Intelligence environment is limited to support the rapidly changing businesses and the exponential growth of data in both volume and complexity of data. Companies should shift their business intelligence environment into Self-Service Business Intelligence (SSBI) environment in order to make smarter and faster decisions. However, firms seem to face various challenges in implementing and leveraging the effective business intelligence system, and academics do not provide sufficient studies related including the success factors of SSBI. This study analyzes the three cases of Korean companies in depth, their development process and the assessment of business intelligence, based on the theoretical model on the key success factors of business intelligence systems. The comparative analysis of the three cases including project managers' interviews and performance evaluations provide rich implications for the successful adoption and the use of business intelligence systems of firms. The study is expected to provide useful references for firms to fully leverage the effects of business intelligence systems and upgrade towards self-service business intelligence systems.

• Korean small business review
• /
• 제42권3호
• /
• pp.245-274
• /
• 2020

The 4th Industrial Revolution is rapidly changing the business environment and enterprises are required to accelerate various innovative activities for sustainable competitiveness. Recently corporate entrepreneurship is widely spread to organization for establishing innovative corporate culture and stimulating corporate ventures. However, many enterprises are not successful and productive due to lack of readiness of corporate entrepreneruship. Therefore, finding the factors influencing corporate entreprensurship, innovative activities and business performance is a very important research issues. A research model and hypothesis are developed by through literature review to analyze positive effects of corporate entrepreneurship to corporate performance and influential effects of factors such as innovation-based efforts at the organizational level, vision and organizational strategies and innovative operating system to corporate entrepreneurship and business performance. The result of Entrepreneurship Survey with Corporates conducted by Korea Entrepreneurship Foundation in 2017 is used for the research sample. Hypothesis test used 1,326 samples and the structural equation modeling is applied. The results show that corporate entrepreneurship improves innovative idea activity performance and business performance. And, establishing innovative vision and strategies and innovative organizational culture enhances corporate entrepreneurship. In addition, it was confirmed that the innovative operational system has a moderating effect that strengthens the positive influence relationship between corporate entrepreneurship and innovative idea performance. The results of this study have implications for previous research on corporate entrepreneurship in Korea by presenting the relationship between corporate entrepreneurship and business performance and the multilateral relationships between innovative organizational structure and corporate entrepreneurship.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• 제7권4호
• /
• pp.113-122
• /
• 2012

A success of opening a business should be supported with complete preparations and implementation. While there have been various educational programs for opening a business to support its success, there have not been a lot of studies on the relationships between educational programs and operational performance in small businesses, due to the difficulties of empirical survey. In this point, this study attempts to understand the relationships between preparation of opening a business and operational performance, while dividing samples into two groups (1. a group completing educational programs for opening a business, 2. a group non-completing). For the perspectives of the preparation of opening a business, various success factors have been suggested through various studies, but the perspectives and approaches of balanced business operation have been required. Therefore, using BSC, it developed a framework with the four perspectives of preparation for opening a business, and empirically reviewed the relationships between the four perspectives and operational performances in small businesses. It conducted a survey on the total 252 samples, whose business periods are less than 5 years. As the results, the preparations of financial and customer/marketing perspectives have significant relationships between operational performances in total samples, preparations of financial, customer/marketing, and growth-strategies perspectives in the educational program completing group and only preparation of financial perspectives in the non-completing group have significant relationship with operational performances. The differences between the two groups may imply that educational programs for opening a business may be helpful for preparation of opening a business and have some possibility of direct and indirect effects for the success of opening a business. Also, the developed BSC based-preparation framework for opening a business is meaningful for the view of balanced business operations, and can contribute to develop the educational programs for opening a business.

• The Journal of Industrial Distribution & Business
• /
• 제2권2호
• /
• pp.25-38
• /
• 2011

After the financial crisis, what has been the rapidly growth of large supermarkets, stores, and restaurants linked to concerns that have already reached saturation point, but the new opening large supermarkets is expected to continue into the future. The major supermarkets are continue to grow outward but growth slowed. And that is expected to continue differentiation of the product, acceptance the customer needs, acquiring high margin of sales products. Then the ongoing development of PB brand is to be positioned effective marketing strategy for overcoming the period of slow growth. In addition, big three local supermarkets continue to launch a clothing PB brand, expansion and operation strategy for the situation and based on this study and the success of the domestic large-Mart's PB and PB identifying problem and the need for differentiation and profit for the successful strategy is to discuss in this study. This research looks at the concept of major market's private brand, the strategy, the success example and the prospects, and views the globally rapid-growing private brands, not only having the limited role of distributing the products as retailers, but also having a control of the distribution channel as a manufacturing company. World's major advanced distribution companies, to differentiate their companies' products and increase the profitability, are putting a lot of efforts into private brand products, and there are many good examples that are globalizing, externally expanding, and creating high financial results. In this research, we presented three major domestic discount stores as examples to show that there is a need for a differentiated private brand management strategy in the saturated discount store industry in Korea. Also, we aim to provide a new product strategy for the future that has been saturated with discount stores to the limit, by providing suggestions that private brand products can be used as weapons with the strongest competiveness in the retail industry through pursuing store differentiations from thorough market analysis and product researches, meeting the customers' needs, and obtaining high margins. PB products, particularly clothing design, a thorough market analysis and product development trends and customer needs to reflect the acquisition of High margin differentiated powerful products and sustainable growth through the stores, large supermarkets, congested, a new breakthrough that can give a good opportunity to provide implications discount stores, new product strategy based on ways to limit proposed. This study discount the major three companies studied, the less strain is a generalization. In the future, domestic and local discount store brand PB, SPA brand that the multinational comparative analysis of the value of the PB expansion strategy centered on clothing, additional studies will be needed.

• Korean Security Journal
• /
• 제42호
• /
• pp.115-153
• /
• 2015

This study identified the cause-and-effect relationship of security management service quality by empirically analyzing whether the performance factors affecting the casino industry are improved when the quality of the security management service is improved. For this, Partial Least Squares (PLS) that can deduce the structural relationship between variables was used. To verify the representativeness of the population, SPSS 19.0 was utilized in a demographic analysis, a independent T-test and Scheffe test. The analysis of the data revealed that the casino industry must preferentially manage assurance, empathy, and security to improve the casino security management service quality, and that, of these, security was the most important factor. To help improve service quality, a theoretical and empirical basis that can consider the importance and priority of individual factors was presented based on the result of this analysis. It also revealed that the security management service is an essential factor for stable business activities of casinos. Further, the importance of the role of the security management service in business strategy formulation for improving the industry performance was recognized through the study results. A service quality improvement method was provided by focusing on the factors that must be preferentially considered for service quality improvement; moreover, implications that can predict the results of such method were presented.

• Journal of Digital Convergence
• /
• 제12권1호
• /
• pp.209-219
• /
• 2014

In this study, questionnaires and field interviews in practice the use of PMS, in assessing companies' usage and employee's perceived importance of performance measures for the characteristics of PMS was investigated. The results of this study can be summarized as follows: First, the companies in the respective business environment and strategies to improve the performance measures reflect, but was using a lot of financial measures. Second, discrepancy-between employee's perceived importance and companies' usage of non-financial measures was showed. Thus, there is a need to develop a variety of performance measures and increase the use of non-financial measures. Third, the company has to consider design and use of PMS to induce the awareness of employees and behavioral changes in order to improve organizational performance.

• Proceedings of the Korea Database Society Conference
• /
• 한국데이타베이스학회 1999년도 춘계공동학술대회: 지식경영과 지식공학
• /
• pp.105-113
• /
• 1999

최근 데이터와 데이터베이스의 폭발적 증가에 따라 무한한 데이터 속에서 정보나 지식을 찾고자하는 지식채굴과정 (knowledge discovery process)에 대한 관심이 높아지고 있다. 특히 기업 내외부 데이터베이스 뿐만 아니라 데이터웨어하우스 (data warehouse)를 기반으로 하는 OLAP환경에서의 데이터와 인터넷을 통한 웹 (web)에서의 정보 등 정보원의 다양화와 첨단화에 따라 다양한 환경 하에서의 지식채굴과정이 요구되고 있다. 본 연구에서는 인터넷 상의 지식을 효과적으로 채굴하기 위한 지식채굴과정을 제안한다. 제안된 지식채굴과정은 명시지 (explicit knowledge)외에 암묵지 (tacit knowledge)를 지식채굴과정에 반영하기 위해 선행지식베이스 (prior knowledge base)와 선행지식관리시스템 (prior knowledge management system)을 이용한다. 선행지식관리시스템은 퍼지인식도(fuzzy cognitive map)를 이용하여 선행지식베이스를 구축하여 이를 통해 웹에서 찾고자 하는 유용한 정보를 정의하고 추출된 정보를 지식변환시스템 (knowledge transformation system)을 통해 통합적인 추론과정에 사용할 수 있는 형태로 변환한다. 제안된 연구모형의 유용성을 검증하기 위하여 재무자료에 선행지식을 제외한 자료와 선행지식을 포함한 자료를 사례기반추론 (case-based reasoning)을 이용하여 실험한 결과, 제안된 지식채굴과정이 유용한 것으로 나타났다.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• 제19권1호
• /
• pp.93-105
• /
• 2024

Car-sharing is a representative model of the sharing economy, and it is a service that rents or uses a car for the necessary time without owning a car. This industry is growing due to various factors such as technological advances, increasing awareness of environmental protection, and increasing demand for solving traffic congestion problems in cities. Accordingly, there is a need for a strategic approach for companies providing car-sharing services to respond quickly to market changes in order to expand market share and differentiate services. Accordingly, this study conducted a case study on open innovation activities between Gongcar and existing rental car companies, focusing on the research question "What effects do open innovation activities between car-sharing companies and existing rental car companies cause?" As a result of the study, it was confirmed that Gongcar have (1) the ability to actively respond to market fluctuations by establishing a flexible vehicle supply chain based on demand, (2) have significantly reduced growth capital expenditure (Growth Capex), and both cafe and rental car companies have (3) performed successful open innovation by improving key KPI indicators and recording financial performance. This study reveals how open innovation acts as a key business growth engine in the car-sharing industry, and its significance is found in that it empirically confirmed the successful implementation conditions of open innovation based on resource dependence theory.

• Korean Security Journal
• /
• 제17호
• /
• pp.109-129
• /
• 2008

The purpose of this study is to analyze the relationship of market orientation, and business performance in the security firms. To achieve the goal of the study, it has used various methods to study. First of all, it has carried out documentary surveys through literatures review on market orientation and business performance of the security firms, and practical researches side by side. In the documentary surveys, it has developed the framework of study and questionnaires based on the domestic and foreign books, theses, materials of public institutions, and other materials. In the practical researches, basing on the selected study models and hypotheses, it has selected 15 security companies which are located in Seoul, Gyeonggi and Chungcheong Provinces with the stratified cluster random sampling method. It has polled the employees of the security companies for about 2 months from 5 August to 10 October 2006, distributing 20$\sim$50 pieces per company. It has distributed 600 pieces and used 565 pieces for analysis excepting unfaithful 35 pieces. The collected questionnaires were analyzed by SPSSWIN 14.0 program. and The methods to analyze the materials were factor analysis, reliability analysis, correlation analysis, multiple regression analysis, and path analysis through regression analysis. The results obtained from the study using analysis methods above are as follows. Finally, market orientation influences on business performance. In other words, the higher market orientation is, the better financial and non financial outcomes are.