• Title/Summary/Keyword: Ex-ante evaluation

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An Analysis of the Time-Lag Effect on the Investment of Informatization for Industrial Human Resources (정보화사업 투자에 대한 시차효과 분석: 산업인력정보화 중심)

  • Lim, Gyoo-Gun;Cho, Nam-Jae;Lee, Dae-Chul
    • Information Systems Review
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    • v.10 no.3
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    • pp.133-153
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    • 2008
  • Understanding of the length of time required to realize the return on the investment of informatization is important for policy makers and decision makers of information system adoption. Previous researchers, however, assessed this issue with the performance measurement approach that was primarily based on static point of view. However, the static analysis on the outcome of the informatization investment is limited in measuring the priori and ex ante effects of the informatization implementation on temporal basis. This study present a methodology to capture the outcome of the informatization investment on dynamic basis. This assessment was performed based on an e-government project in Korea, called "Industry Human Resource Project." Particularly, the study addressed how long it takes to obtain the benefit of WorkNet System, which was part of this Korean e-government project. We proposed various approaches to illustrate the importance and temporal effect of the WorkNet System by analyzing DB data, time reduction of WorkNet business processes and return of investment of IT.

Political Implication on the Genetically Modified Crops (유전자(遺傳子) 변형(變形) 농산물(農産物)에 관한 정책적(政策的) 함의(含意))

  • Shin, Young In;Park, In Shik
    • Korean Journal of Agricultural Science
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    • v.26 no.2
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    • pp.116-129
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    • 1999
  • The objectives of the study mainly concentrated on identifying the political implication on genetically modified crops considering production potentials and problems. It is found that the comprehensive evaluation of the genetically modified crops could not be concluded and compromised in a word on account of the polarization and parallelism of the positive and negative benefits of genetically modified crops just like as the rail way. The genetically modified crops will be contributed to solving the food shortage problems in the world, when the issues such as food safety, ecological disturbance and loss and degradation of biodiversity can be guaranteed in transparency. And when the trade morality of the multi-national enterprises be accepted by the genetically modified crops consumers, the potentiality of genetically modified crops will be realized greatly. By the way, the first problems will be expected to be solved by scientific development. If the food safety of the genetically modified technology be verified in transparency, it will be greatly contributed to solve food problems of human beings in the world. But the second problem could not be expected to be easily solved from the view point of capital property. In conclusion, the genetically modified technology will be made a severe sense of incongruity and a seed of fire on it will be remained persistently. According to the results based on the analysing the genetically modified crops potentiality and problems, it was identified that the ex-ante preparation of counter-measures and actions on it should be necessary. Accordingly this study has recommended that how and what the R&D policy on genetically modified crops be established and suggested how to carried out the industrial and economic policy together with international negotiation, and organizational and institutional rearrangement and etc.

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The Prediction of Export Credit Guarantee Accident using Machine Learning (기계학습을 이용한 수출신용보증 사고예측)

  • Cho, Jaeyoung;Joo, Jihwan;Han, Ingoo
    • Journal of Intelligence and Information Systems
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    • v.27 no.1
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    • pp.83-102
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    • 2021
  • The government recently announced various policies for developing big-data and artificial intelligence fields to provide a great opportunity to the public with respect to disclosure of high-quality data within public institutions. KSURE(Korea Trade Insurance Corporation) is a major public institution for financial policy in Korea, and thus the company is strongly committed to backing export companies with various systems. Nevertheless, there are still fewer cases of realized business model based on big-data analyses. In this situation, this paper aims to develop a new business model which can be applied to an ex-ante prediction for the likelihood of the insurance accident of credit guarantee. We utilize internal data from KSURE which supports export companies in Korea and apply machine learning models. Then, we conduct performance comparison among the predictive models including Logistic Regression, Random Forest, XGBoost, LightGBM, and DNN(Deep Neural Network). For decades, many researchers have tried to find better models which can help to predict bankruptcy since the ex-ante prediction is crucial for corporate managers, investors, creditors, and other stakeholders. The development of the prediction for financial distress or bankruptcy was originated from Smith(1930), Fitzpatrick(1932), or Merwin(1942). One of the most famous models is the Altman's Z-score model(Altman, 1968) which was based on the multiple discriminant analysis. This model is widely used in both research and practice by this time. The author suggests the score model that utilizes five key financial ratios to predict the probability of bankruptcy in the next two years. Ohlson(1980) introduces logit model to complement some limitations of previous models. Furthermore, Elmer and Borowski(1988) develop and examine a rule-based, automated system which conducts the financial analysis of savings and loans. Since the 1980s, researchers in Korea have started to examine analyses on the prediction of financial distress or bankruptcy. Kim(1987) analyzes financial ratios and develops the prediction model. Also, Han et al.(1995, 1996, 1997, 2003, 2005, 2006) construct the prediction model using various techniques including artificial neural network. Yang(1996) introduces multiple discriminant analysis and logit model. Besides, Kim and Kim(2001) utilize artificial neural network techniques for ex-ante prediction of insolvent enterprises. After that, many scholars have been trying to predict financial distress or bankruptcy more precisely based on diverse models such as Random Forest or SVM. One major distinction of our research from the previous research is that we focus on examining the predicted probability of default for each sample case, not only on investigating the classification accuracy of each model for the entire sample. Most predictive models in this paper show that the level of the accuracy of classification is about 70% based on the entire sample. To be specific, LightGBM model shows the highest accuracy of 71.1% and Logit model indicates the lowest accuracy of 69%. However, we confirm that there are open to multiple interpretations. In the context of the business, we have to put more emphasis on efforts to minimize type 2 error which causes more harmful operating losses for the guaranty company. Thus, we also compare the classification accuracy by splitting predicted probability of the default into ten equal intervals. When we examine the classification accuracy for each interval, Logit model has the highest accuracy of 100% for 0~10% of the predicted probability of the default, however, Logit model has a relatively lower accuracy of 61.5% for 90~100% of the predicted probability of the default. On the other hand, Random Forest, XGBoost, LightGBM, and DNN indicate more desirable results since they indicate a higher level of accuracy for both 0~10% and 90~100% of the predicted probability of the default but have a lower level of accuracy around 50% of the predicted probability of the default. When it comes to the distribution of samples for each predicted probability of the default, both LightGBM and XGBoost models have a relatively large number of samples for both 0~10% and 90~100% of the predicted probability of the default. Although Random Forest model has an advantage with regard to the perspective of classification accuracy with small number of cases, LightGBM or XGBoost could become a more desirable model since they classify large number of cases into the two extreme intervals of the predicted probability of the default, even allowing for their relatively low classification accuracy. Considering the importance of type 2 error and total prediction accuracy, XGBoost and DNN show superior performance. Next, Random Forest and LightGBM show good results, but logistic regression shows the worst performance. However, each predictive model has a comparative advantage in terms of various evaluation standards. For instance, Random Forest model shows almost 100% accuracy for samples which are expected to have a high level of the probability of default. Collectively, we can construct more comprehensive ensemble models which contain multiple classification machine learning models and conduct majority voting for maximizing its overall performance.

Development and Effects Family Life Education for Marriage Immigrant Women Applying Home Economics (가정교과를 적용한 결혼이주여성 대상 가정생활문화교육 프로그램 개발과 효과)

  • Kim, JiWook;Jun, MiKyung
    • Journal of Korean Home Economics Education Association
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    • v.26 no.4
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    • pp.51-73
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    • 2014
  • The purpose of this study is to develop a family life educational program and verify the effectiveness hereof in order to improve a family life and enhance practice ability for marriage immigrant women. The content of family life educational program was composed based on the family life education lesson of the home economics textbooks. The adequacy of the program content was verified by the two experts. The study subjects were the 14 marriage immigrant women living in J-gu of Seoul and the program was conducted for 3 days from September 16 to October 7 2014 at the Seoul J Multicultural Family Support Center. As for program evaluation, this study conducted both an objective evaluation and subjective evaluation (semi-structured interview and survey). The author of this study composed the questions of the objective evaluation on the basis of the previous studies and home economics textbooks. The aforementioned two experts verified the questions thereof. The important findings of this study are as follows. First, this study developed the family life educational program that consisted of a total of 8 rounds on the basis of "the happy family life education lesson led by family". Second, this study ensured that the family life educational program for marriage immigrant women would help understand the Korean traditional culture and also the family culture of their homeland. Also, this study aimed to allow the study subjects to develop an attitude to respect the diversity of family life culture. Third, it was found that the effectiveness of the program was statistically significant in the objective evaluation through the ex ante and ex post assessment as a result of the program effectiveness test. From the subjective evaluation, all the participants had a high degree of satisfaction with more than 4.0 points in all of the following areas: program objective achievement, adequacy of program contents and activities and program operation. As a result of the subjective evaluation through the semi-structured interview, this study confirmed a high level of desire for family life education through the willingness of marriage immigrant women to continue to learn the in-depth contents related to family life education. The above findings of this study imply that a family life educational program based on home economics can play a critical role in implementing a healthy family life education for marriage immigrant women.

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Market Evaluation of the Value of Patent (특허의 가치에 대한 시장의 평가)

  • Youn, Taehoon
    • KDI Journal of Economic Policy
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    • v.26 no.2
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    • pp.63-104
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    • 2004
  • Economists have long been involved in various studies, theoretical and empirical, on the economic gains from innovative activities and as their outcome, intellectual properties. In Korea, however, research in this field has experienced rather slow progress, partly due to the lack of data availability and the awareness of its importance. This study attempts to measure the economic impact of patents on market value of firms from a microeconomic point of view. Analyses are performed to examine the ex-ante market valuation of patent acquisition activities by investigating the effect of patent acquisitions on daily stock prices as well as on annual market values. The study on the effect of a disclosure of granted patents on daily stock prices reveals that the economic value of a firm's patent acquisition is fairly high. The study on listed firms also reveals that a firm's patent registration stock has a positive and statistically significant effect on its year-end market value. Therefore, it can be concluded that the analysis performed in this study supports the validity of Korea's current patent system. The result, however, does not guarantee the optimality of current system. Studies on various aspects of intellectual property should follow to shape the system into a socially optimal one.

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A Study on the ex-ante Hydraulic Facilities Assessment Techniques Combinedly Considering Flood Control - Environmental Functions (하천의 치수-환경기능 복합 고려 수리시설물 사전평가 방법에 관한 연구)

  • Lee, Tae-Geun;Sim, Gyoo-Seong
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.21 no.10
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    • pp.517-529
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    • 2020
  • Various facilities in the river working in a complex interdependence network result in both desired and adverse effects. Among these, the weir crossing the river continuously acts in various ways, such as securing river maintenance flow and water level during dry-period, and rising flood level during rainy period. Until now, weir planning was only limited to flood mitigation management. Recently, the demand for securing river environment functions is increasing. Therefore, the necessity for an environmental flow has emerged. Nevertheless, there is no analysis and evaluation of the ecological functional aspects applying the environmental flow when planning facilities. Therefore, this study aimed to develop and systematize an assessment method that considers not only flood control but also river environment. Environmental flow was applied to the weir named Dondaet-bo and hydraulic analysis was conducted for each retention, demolition, and re-installation case. Also, this research was conducted to minimize the impact on the surrounding river facilities and flood assessments from previous perspectives were performed. The study result demonstrated a plan to reinstall the weir as a natural riffle. Through this study, it is expected that the flood control and environmental functions of rivers can be secured in combination.