• Journal of the Korean Operations Research and Management Science Society
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• v.41 no.4
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• pp.33-53
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• 2016

We measure individuals' decision making styles and risk attitudes from a sample of Korean adults using the general decision making styles (GDMS) and the multiple price list design (MPLD), respectively. With the measurement results, we identify the distributions of the decision making styles and risk attitudes, and explore the relationship between them. Specifically, we conduct an exploratory experiment to find out some meaningful characteristics of the Korean adults in terms of their decision making styles and risk attitudes. The results of the experiment show that the distribution of the five decision making styles turns out to be different by the demographic characteristics of the sample. In addition, risk attitudes of the Korean people are quite distinct from those shown in the previous studies which were mostly conducted in the United States with the samples of college students. It is also shown that each of the five decision making styles has a different distribution of risk attitudes, which is statistically verified. The results of this study make a meaningful addition to the literature of this kind by providing the rationale for understanding the decision making styles and the risk attitudes of the Korean adults, which may serve as grounds for predicting the behaviors of the key individuals in various public and private sectors.

• International Commerce and Information Review
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• v.15 no.2
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• pp.25-47
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• 2013

In China, the commercial bank credit financing is the most important external financing channel for SMEs. However, the lack of credit guarantee significantly deters commercial banks to finance SMEs. which may generate a negative impact on the trade activities of SME in China. In this paper we examine the risk of credit guarantee for SMEs financing and the factors affecting this risk through a VAR (Value-at-Risk) model. Our analysis shows that the scale of enterprises' impact on the VAR (risk of financing guarantee) is not much relevant. We also find that the certainty of financing for SMEs, such as the fixed asset ratio, has a significant and negative effect on the VAR of Chinese credit guarantee institutions. The product uniqueness is positively correlated with the VAR, and operation risk is also positively related to the credit risk of Chinese credit guarantee institutions.

• The Journal of Industrial Distribution & Business
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• v.8 no.5
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• pp.87-93
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• 2017

Purpose - This paper investigates whether managerial overconfidence is associated with firm-specific crash risk. Overconfidence leads managers to overestimate the returns of their investment projects, and misperceive negative net present value projects as value creating. They even use voluntary disclosures to convey their optimistic beliefs about the firms' long-term prospects to the stock market. Thus, the overconfidence bias can lead to managerial bad news hoarding behavior. When bad news accumulates and crosses some tipping point, it will come out all at once, resulting in a stock price crash. Research design, data and methodology - 7,385 firm-years used for the main analysis are from the KIS Value database between 2006 and 2013. This database covers KOSPI-listed and KOSDAQ-listed firms in Korea. The proxy for overconfidence is based on excess investment in assets. A residual from the regression of total asset growth on sales growth run by industry-year is used as an independent variable. If a firm has at least one crash week during a year, it is referred to as a high crash risk firm. The dependant variable is a dummy variable that equals 1 if a firm is a high crash risk firm, and zero otherwise. After explaining the relationship between managerial overconfidence and crash risk, the total sample was divided into two sub-samples; chaebol firms and non-chaebol firms. The relation between how I overconfidence and crash risk varies with business group affiliation was investigated. Results - The results showed that managerial overconfidence is positively related to crash risk. Specifically, the coefficient of OVERC is significantly positive, supporting the prediction. The results are strong and robust in non-chaebol firms. Conclusions - The results show that firms with overconfident managers are likely to experience stock price crashes. This study is related to past literature that examines the impact of managerial overconfidence on the stock market. This study contributes to the literature by examining whether overconfidence can explain a firm's future crashes.

• KSII Transactions on Internet and Information Systems (TIIS)
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• v.7 no.5
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• pp.1213-1235
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• 2013

In this paper, we investigated the factors affecting the intention to use smartphone banking with a research model based on the Technology Acceptance Model (TAM) extended to include security risk, trust, and self-efficacy. With analysis after controlling factors such as age, gender, and previous experience of smartphone banking that may have effects, we conclude that perceived usefulness, perceived ease of use, security risk, and trust have direct effect on the intention to use smartphone banking, and self-efficacy has indirect effect on the intention to use through mediation of perceived ease of use. We performed a study to check the validity of TAM in the context of smartphone banking, and confirmed that perceived ease of use has both direct and indirect effect on the intention to use.

• Journal of the Korean Society of Industry Convergence
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• v.6 no.3
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• pp.215-222
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• 2003

When constructing buildings, planning, design, construction, using & maintenance as building life cycle. Due to industrialization in 1960s and development of new town from the late 1980s to the early 1990s, Korean housing supply rate reaches almost 100%. After construction companies confronted limit of new building construction, they recognized remodeling as a part of construction, and organized remodeling team or FM team to improve sustainable industrial area. However, since companies in Korea are lack of experience and research activities for remodeling, it makes obstacle to improvement of remodeling business. So the objective of this study is to help carry out remodeling business by suggesting the counterplan through investigation of a risk of apartment remodeling business.

• Proceedings of the Korean Society for Quality Management Conference
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• 2010.04a
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• pp.310-320
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• 2010

In this study, factors affecting the development of new products and research about the relevance of the factors based on the research model was configured. Existing research and technology commercialization process of discrimination that occur in the importance of risk management and open innovation company's competitive advantage in new product development and affect the reporter know what the effect is used as a control variable effects. Factor in the development of new products through research and innovation capacity and knowledge management activities, the introduction of open innovation and enterprise level ever due to the level of risk management controls and the need for effective research to study the model was proposed.

• Proceedings of the KSR Conference
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• 2007.05a
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• pp.577-583
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• 2007

In railway business plan, operations require a strategic and sustained level of planned investment to ensure assets are fit for purpose over the whole of their planned life. Therefore it is essential that operator can confidently plan and predict capital investment requirements over a number of years. This research addresses that how the London Underground apply a systematic risk based approach to their health and safety planning and investment decision making. Through this case study, we investigate the elements of management system that includes arrangements for the ongoing identification of hazards, assessment of risks and the implementation necessary control measures. Risk based business planning processes are also addressed.

• Journal of Technology Innovation
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• v.6 no.2
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• pp.178-207
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• 1998

This article suggests a methodology to decide the priority of investment project for venture business under the dynamic circumstance. By the Monte Carlo procedure on the probability distribution of cost and revenue, the model simulates the investment project to estimate profit ratio and risk. The profit ratio is calculated on the yearly basis for the relative comparison. The project risk is calculated as semi-variance under the target yield. After sufficient simulations in this fashion for several projects, the efficient projects with more profit and less risk are selected by the dominance principle. Then the regression equation of the selected projects is produced to find the relative value of the projects. The relative value is obtained through dividing the raw profit ratio by the estimated one on the equation. This value shows the degree to which the simulated project yields over the equation. The priority of investment is decided by this value. An examplary venture business of chemical development for semi-conductor is presented as a case study.

• Journal of Information Technology Applications and Management
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• v.16 no.3
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• pp.59-71
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• 2009

Hazard analysis identifies probability to hazard occurrence and its potential impact on business processes operated in organizations. This paper illustrates a quantitative approach of hazard analysis of information systems by measuring the degree of hazard to information systems using probabilistic risk analysis and activity based costing technique. Specifically the research model projects probability of occurrence by PRA and economic loss by ABC under each identified hazard. To verify the model, each computerized subsystem which is called a business process and hazards occurred on information systems are gathered through one private organization. The loss impact of a hazard occurrence is produced by multiplying probability by the economic loss.

• International Journal of Computer Science & Network Security
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• v.21 no.12
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• pp.228-234
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• 2021

The article defines the problems of forming the models of government regulation of clustering, marketing management and labor market in the context of globalization, business bankruptcy risk and services market development. The clustering models based on the optimal partner network cooperation were proposed in order to ensure the strategic development of territories, to attract budget leading enterprises and to support small businesses. A descriptive model of government regulation of clustering, marketing management and labor market in the context of globalization, business bankruptcy risk and Covid-19 was determined.