• Journal of Intelligence and Information Systems
• /
• v.29 no.2
• /
• pp.1-22
• /
• 2023

Existing studies on mixed ratings that combine ESG ratings and credit ratings have been rare. Through meta-frontier analysis, this study examines the relationship between the prime and non-prime groups in ESG ratings, credit ratings, and mixed ratings that consider ESG ratings and credit ratings at the same time. Efficiency was compared. Meta-frontier analysis was used to compare the efficiency of 143 listed manufacturing companies in Korea between the prime and non-prime groups based on the ESG ratings assigned to them by KCGS and the credit ratings assigned by Korea's three major credit rating agencies. As a result of this study, first, the meta-efficiency of the prime mixed-grade group was statistically more efficient than the non-prime mixed-grade group under the variable return scale (VRS) assumption. Second, the prime ESG rating group had a relatively higher proportion of scale inefficiency than the non-prime ESG rating group. Third, in terms of economies of scale, the prime credit rating group had a higher proportion of diminishing returns to scale (DRS) than the non-prime credit rating group. This study will help companies interested in sustainability management to do ESG management.

• Journal of Navigation and Port Research
• /
• v.32 no.1
• /
• pp.73-80
• /
• 2008

The purpose of this paper is to measure the productive efficiency and competitive strength of Regional Maritime Affairs and Fisheries Office using the DEA. Using EMS(Efficiency Measurement System) which is LP solver, quantifies in one way or another a "distance" to the efficient frontier of the technology. An input oriented measure quantifies the input reduction which is necessary to become efficient holding the output constant. Symmetrically, an output oriented measure quantifies the necessary to become efficient holding the inputs constant. A non-oriented measure quantifies necessary improvements when both inputs and outputs can be improved simultaneously. According to the analysis result of the DEA method, inefficient Regional Maritime Affairs and Fisheries Office should recommend benchmarking reference Regional Maritime Affairs and Fisheries Office in order to enhance the productive efficiency of port administration and a public institution. Besides data on productive efficiency serves as a tool for policy-makers at all levels of activity and is essential for improving the efficiency with which the various systems operate.

• Environmental and Resource Economics Review
• /
• v.22 no.3
• /
• pp.499-520
• /
• 2013

This study proposes an iterative approach to the estimation of the marginal abatement costs of undesirable outputs by computing the slope of the efficient production possibilities frontier on the basis of the efficient projection points generated by the directional output distance function approach due to Fare et al. (2005) based on duality theory. In case of the latter methodology, the estimated marginal abatement costs differ significantly depending on the choice of the directional output vector. In addition, depending on the curvature of the underlying PPF the efficient projection points may be located at a significant distance away from their actually observed counterparts. While it would be more logical to estimate marginal abatement costs as a PPF slope at a point corresponding to the actually observed emissions level, the methodology based on duality theory is likely to produce unstable results due to the problems associated with applying the theorem of implicit function differentiation. Since our methodology is not based on duality theory, our results are immune to both of these problems. We apply our methodology to a sample of Western European countries for the period of 1995-2011 to illustrate our approach.

• Journal of Korean Institute of Industrial Engineers
• /
• v.38 no.4
• /
• pp.254-257
• /
• 2012

Hedge funds can be established in Korea after the deregulation about setting up private equity funds on September, 2011. Although the variety of asset allocation strategies is the strength of hedge funds, most of Korean hedge funds uses only the equity long/short strategy. Therefore, it is need to introduce other strategies into Korea hedge funds, however all strategies can not be adopted at once because of the infrastructure of Korea financial market. In this paper, we find the optimal introductive order of strategies for Korea hedge fund in view of individual or institutional investors. For this analysis, HFRI data are used for the historical return of each hedge fund strategy and three methods (network visualization, principle component analysis and efficient frontier optimization) are used for finding the optimal order.

• The Journal of Asian Finance, Economics and Business
• /
• v.7 no.6
• /
• pp.297-304
• /
• 2020

This paper applies the Data Envelopment Analysis (DEA) to compute the managerial efficiency of 30 insurance companies listed on the Saudi stock exchange for the duration of four years from 2015 to 2018. The companies taken as a sample of study included both conventional and Takaful insurance companies. The insurance sector of KSA is one of the largest sectors in the country, contributing a substantial percentage in the non-oil economy. Efficiency measurement and evaluation will provide a venue to introspect and benchmark frontiers to the sector. In the present study, we have utilized the basic Banker Charnes Cooper and Charnes Copper Rhodes models of DEA. Two inputs, namely, general & administrative expenses and policy & acquisition costs, and two outputs (Net premium earned and Investment Income & other incomes) were taken for efficiency calculations. The final outcomes of the study reveal that a good number of insurance companies operating in KSA are found to be efficient on managerial efficiency scale. Three firms remain the leader on the frontier of the managerial efficiency. And no company found with zero (0) efficiency or a negative efficiency. It is expected that the outcome of the study will provide benchmarks to managers and a road map to further improvement.

• Transactions of the Korean Society of Automotive Engineers
• /
• v.20 no.1
• /
• pp.124-130
• /
• 2012

An injection mold cooling circuit for an automotive front bumper was optimally designed in order to simultaneously minimize the average of the standard deviations of the temperature and the difference in mean temperatures of the upper and lower molds for uniform cooling. The temperature distribution for a specified design was evaluated by Moldflow Insight 2010, a commercial injection molding analysis tool. For efficient design, PIAnO (Process Integration, Automation and Optimization), a commercial PIDO tool, was used to integrate and automate injection molding analysis procedure. The weighted-sum method was used to handle the multi-objective optimization problem and PQRSM, a function-based sequential approximate optimizer equipped in PIAnO, to handle numerically noisy responses with respect to the variation of design variables. The optimal average of the standard deviations and difference in mean temperatures were found to be reduced by 9.2% and 56.52%, respectively, compared to the initial ones.

• Industrial Engineering and Management Systems
• /
• v.10 no.2
• /
• pp.134-139
• /
• 2011

The problem of scheduling in permutation flowshops has been extensively investigated by many researchers. Recently, attempts are being made to consider more than one objective simultaneously and develop algorithms to obtain a set of Pareto-optimal solutions. Varadharajan et al. (2005) presented a multi-objective simulated-annealing algorithm (MOSA) for the problem of permutation-flowshop scheduling with the objectives of minimizing the makespan and the total flowtime of jobs. The MOSA uses two initial sequences obtained using heuristics, and seeks to obtain non-dominated solutions through the implementation of a probability function, which probabilistically selects the objective of minimizing either the makespan or the total flowtime of jobs. In this paper, the same problem of heuristically developing non-dominated sequences is considered. We propose an effective heuristics based on simulated annealing (SA), in which the weighted sum of the makespan and the total flowtime is used. The essences of the heuristics are in selecting the initial sequence, setting the weight and generating a solution in the search process. Using a benchmark problem provided by Taillard (1993), which was used in the MOSA, these conditions are extracted in a large-scale experiment. The non-dominated sets obtained from the existing algorithms and the proposed heuristics are compared. It was found that the proposed heuristics drastically improved the performance of finding the non-dominated frontier.

• Journal of Korean Society for Quality Management
• /
• v.36 no.4
• /
• pp.102-116
• /
• 2008

The most widely used models to study the quality of service are the SERVQUAL and SERVPERF models that measure service mechanisms. This paper is to estimate service efficiency and consistency for Retail Industry. We tried to measure the service quality and overall satisfaction by using DEA and PCI, degree of combination and top2box which is a little bit different methodology from traditional ones. Rather than using the usual method of converting the service quality index by mean value, the Service Efficiency Index(SEI) and Service Quality Consistency Index(SQCI) are used to measure the efficiency and consistency level, which in turn can be used as the new service quality indices. The result of SEI and SQCI show the efficiency frontier in retail industry that 6 DMUs are analyzed relative efficient DMUs, 12DMUs are inefficient DMUs and retail Industry consistency level appeared low(0.35-0.47) Also, there is a significant difference in terms of efficiency and consistency in the each retail industry. Finally, we showed the summarized result as the Effi-Con Matrix.

• Biomedical Science Letters
• /
• v.15 no.3
• /
• pp.187-197
• /
• 2009

Fingerprinting is a frontier technique that is the most frequently applied for human identification throughout the world. All citizens over 17 year old living in the Republic of Korea must be fingerprinted to obtain a certificate of resident registration. In Korea, for this reason, human identification through fingerprints has been far better developed and used efficiently both in crime scene investigation and in confirmation of an unidentified body. Scientific approaches have been made to accurately extract the metamorphosed fingerprints in various environments. Because most of the studies on fingerprinting have been accomplished with biometric techniques, researches on restoration of human dermal tissue and taking custody data after collecting fingerprints have been comparatively undermined. In this study, a newly innovative method for fingerprint extraction was developed using the polyester film with print powders and the high temperature-moisturizing method. Compared to the conventional fingerprinting method of paper with ink, minutiae numbers of fingerprints were greatly increased in polyester film with print powders after restoration of fingertips by high temperature-moisturization. This newly developed procedure would be an efficient fingerprinting technique which could be utilized in scientific investigation and in personal identification in the future. Furthermore, the new method for restoration and extraction of fingerprints are easy and inexpensive to practice for a number of human identification.

• Asia pacific journal of information systems
• /
• v.12 no.3
• /
• pp.1-20
• /
• 2002

For the last decade, some leading groups of corporations in Korea have integrated and managed their Information Systems(IS) functions. Each group established a separate System Management(SM) company to manage the IS and tried to get a synergy effect from the integration. These attempts, however, were not initiated by any one company. Rather they were group efforts. Moreover, the previous measuring tools evaluated IS with the scope of technical performance or quantitative user satisfaction using an absolute scale. Obscure criteria were used in an attempt to present improvements in IS function which were qualitatively weak. This study evaluates whether integration has been efficient and successful. For this purpose, we evaluate the performance efficiency of IS functions with Data Envelopment Analysis(DEA) methodology. In comparison with prior methods, DEA presents the rate of relative efficiency, the efficiency frontier for improving inefficiency, the degree of improvement(slack), and the guideline to construct any benchmark(reference set). For our DEA evaluation, this study selected a leading group of 23 companies in Korea. Our experimental results are as follows. First, efficiency was rated low on average. It also demonstrates that the motivation of performance efficiency of IS functions is deficient. Second, the result of the test to find the existence of economy of scale and scope shows that the growth of an organization and industrial characteristics do not affect IS performance efficiency from the perspective of user satisfaction. Finally, the comparison with other evaluation approaches informs us that DEA can be a complementary evaluation method which supports other measuring tools.