• The Journal of the Korea Contents Association
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• v.17 no.5
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• pp.221-233
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• 2017

To survive in the ever-changing environment, organizations need to improve or innovate their business processes. As a result, to attain this objective, BPM (Business Process Management) concept is widely adopted in modern enterprises. BPM life cycle consists of diagnosis, design, implementation and enactment. Conventionally, diagnosis of business process within the BPM life cycle is usually conducted by manual methods such as interviews, questionnaires and direct observations of process. And (re)designing business processes is also usually done manually under supervision of business experts from scratch. It is time-consuming and error-prone tasks. The objective of this research is to integrate the diagnosis and (re)design phase of BPM life cycle by sharing automatically generated process model and basic statistics in the diagnosis phase based on the process mining method. Eventually, this approach will lead to automate the tasks of diagnosis and design of business process. To implement and to show the usefulness of the proposed framework, two case studies were conducted in this research.

• East Asian Economic Review
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• v.23 no.2
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• pp.203-223
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• 2019

This paper examines the interactions between financial conditions and business cycles in Mongolia, a small open economy, heavily depending on commodity exports. We construct two financial conditions indexes based on the reduced form IS model and the vector autoregression (VAR) model as surveillance tools to quantify the degree of the financial conditions. We find that real short-term interest rate and real effective exchange rate gap get a higher weight in the FCIs. Both business and financial cycles are often more pronounced in Mongolia, and financial condition is dependent of the financial and monetary policies in place. The analysis of the predictive power of the FCIs for business cycles shows that they have predictive information for the near-term economic activities. FCIs are also helpful in signaling inflation turning points.

• Journal of Distribution Science
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• v.12 no.5
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• pp.61-69
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• 2014

Purpose - Many studies report that returns on hedge portfolios that eliminate particular risk types are abnormal from traditional asset pricing models' perspectives. This study examines the pervasiveness of anomalous returns conditioned on business cycle and group size. Research design, data, and methodology - Using KOSPI and KOSDAQ market data from July 1991 to December 2013, we categorize stocks into appropriately sized groups, and dichotomize our sample periods into expansion and recession periods then, we construct hedge portfolios by sorting stocks by anomaly variables and calculate their returns. Results - Four anomalies, including earnings yield, net stock issue, total asset growth, and liquidity appear pervasive across all groups for the entire sample period. However, only the hedge returns of net stock issues are significant across all group sizes during both expansion and recession. Conclusions - A net stock issue can be an appropriate proxy for expected growth of book equity for all group sizes in recessions. This finding could provide insights to investment industry participants and to researchers interested in the relationship between expected growth of book equity and business cycle risk.

• The Journal of Asian Finance, Economics and Business
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• v.5 no.4
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• pp.135-147
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• 2018

There has been a recent increase in the interest towards founding companies and in line with the South Korean Government's policy on start-up support, discussions are rife about the effect of entrepreneurship on the management and performances of these companies. To enhance the competitiveness of SMEs, it is expedient to acquire and deploy consistent entrepreneurship, differentiate corporate resources, ensure the appropriate utilization of resources and the integration of such factors in response to the changing environment. This research examines relationships among entrepreneurship, three components of corporate capabilities, dynamic capability and technical performance based on resource-based view and the dynamic capability theory. The authors also investigate the moderating role of corporate life cycle. To test the hypothesis, we conducted a survey on 352 technologies -innovative SMEs located in South Korea via professional research institutes. The findings confirm the hypothesis that SMEs' entrepreneurship has a positive effect on three kinds of corporate capabilities (e.g., marketing, R&D, operations capability), and it had a positive effect on dynamic capability, whiles dynamic capability also had an influence on technical performances. The findings also confirmed the hypothesis that corporate life cycle moderates the relationship between dynamic capability and technical performances respectively. The research implications for both practitioners and academicians are discussed.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.44 no.4
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• pp.98-105
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• 2021

Using the frequency-based decomposition, I decompose the consumption growth to explain well-known patterns of stock returns in the Korean market. To be more specific, the consumption growth is decomposed by its half-life of shocks. The component over four years of half-life is called the business-cycle consumption component, and the components with half-lives under four years are short-run components. I compute the long-run and short-run components of stock excess returns as well and use component-by-component sensitivities to price stock portfolios. As a result, the business-cycle consumption risk with half-life of over four years is useful in explaining the cross-section of size-book-to-market portfolios and size-momentum portfolios in the Korean stock market. The short-run components have their own pricing abilities with mixed direction, so that the restricted one short-term factor model is rejected. The explanatory power with short- and long-run components is comparable to that of the Fama-French three-factor model. The components with one- to four-year half-lives are also helpful in explaining the returns. The results about the long-run components emphasize the importance of long-run component in consumption growth to explain the asset returns.

• The Korean Journal of Financial Studies
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• v.2 no.1
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• pp.145-158
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• 1995

According to recent empirical studies, there is a systematic pattern in temporal behaviors of asset returns, and that systematic pattern is related to the business cycle. I propose a model which captures this evidence. This is done by considering a state dependent preference structure where state dependency is related to the business cycle. In this setting, the three main puzzles(i.e., the volatility puzzle, the equity premium puzzle, mean reversion) are understood as interrelated behaviors.

• Proceedings of the CALSEC Conference
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• 2001.02a
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• pp.499-520
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• 2001

◈ B2B e-commerce is set to grow significantly in the next 5 years ◈ There is a growing trend towards leveraging the information asset to win new business in the Maintenance, Repair and Overhaul (MRO) market ◈ After-market service is forecast to be a significant element of the B2B market ◈ Existing standards do not fully address the product support requirement ◈ PLCS standards will allow support information to be aligned with the changing product over its entire life cycle ◈ Adoption of PLCS standard will lead to reduced operating costs and increased product availability.(omitted)

• Journal of the Korea Society of Computer and Information
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• v.23 no.11
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• pp.103-109
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• 2018

This paper presents an idea and framework to automate a full cycle business process management and re-engineering by integrating traditional business process management systems, process mining, data mining, machine learning, and simulation. We build our framework on the cloud-based platform such that various data sources can be incorporated. We design our systems to be extensible so that not only beneficial for practitioners of BPM, but also for researchers. Our framework can be used as a test bed for researchers without the complication of system integration. The automation of redesigning phase and selecting a baseline process model for deployment are the two main contributions of this study. In the redesigning phase, we deal with both the analysis of the existing process model and what-if analysis on how to improve the process at the same time, Additionally, improving a business process can be applied in a case by case basis that needs a lot of trial and error and huge data. In selecting the baseline process model, we need to compare many probable routes of business execution and calculate the most efficient one in respect to production cost and execution time. We also discuss the challenges and limitation of the framework, including the systems adoptability, technical difficulties and human factors.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.3
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• pp.781-791
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• 2021

This study aims to analyze the relationship between the business cycles of the ASEAN +3 countries. In addition, the effects of the spillover value on the coincident indicators are determined. This study employs secondary data and uses multivariate time series of five ASEAN countries, namely, Indonesia, Malaysia, Singapore, Thailand, and the Philippines. The proxy was the real gross domestic product (GDP) collected annually from the CEIC, the IMF, and the World Bank for the period from 1964 to 2016. The data was plotted against two time periods, 1964-1998 as the pre-crisis period, and 1999-2016 as the post-crisis period. The index data was changed to the base year 2010. The data was subsequently separated from the trends and the cyclic components. The cyclic components were obtained by using Hondrick-Prescott filter, and them were further analyzed. The analytical method used was Contemporaneous and Cross-Correlation tools. The results showed that, before and after the crisis, the value of the business cycle correlation between ASEAN +3 countries was stronger and moved together at the same level of lag value. The implication of this research was an initial finding of the ASEAN +3 countries' prerequisites for the formation of a common currency.

• The Journal of Society for e-Business Studies
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• v.17 no.3
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• pp.43-60
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• 2012

This study reviews the life cycle models considering legal and technical characteristics of personal data respectively. Based on the reviews, this research proposes 'consent and management based model of personal data' which is applicable to the domestic IT companies. The model suggested in this paper has characteristics that 'Consent' and 'Management' factors are ㅁpositively considered, which is overlooked in the other models. The validity of the model is examined by two methods, validation of the model of excellence by contrast of the other models, and 'consent' and 'management' factors cover all the life cycle processes. Using this model, IT companies will be contributed to the analysis of the personal data utilization and the development of IT system protection.