• The Journal of Information Systems
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• v.19 no.3
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• pp.105-126
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• 2010

Many organizations have spent huge investments on information systems (IS) but are unable to achieve the maximum benefits expected. The problem of system underutilization of implemented IS is a major factor that causes the lackluster returns on organizational investments in IS. In light of the need for solutions to underutilization, researchers are beginning to explore IS infusion to enhance task performance. IS infusion is the extent to which an individual fully uses the system to enhance his or her task performance. So far, there has yet to be any significant finding or theory to explain the phenomenon. Therefore this study offers a conceptual framework on IS infusion based on the socio-technical system perspective. Particularly, this study investigates the influence of job fit, task competence, technology competence, self-determination with technology and self-determination with task on IS infusion. The analysis following the collection of empirical data found that job fit and self-determination with technology are positively related to IS infusion. This study serves as a basis for future research and suggests important implication to managers and system designers in promoting IS infusion.

• Transactions of the Korean hydrogen and new energy society
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• v.13 no.4
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• pp.330-338
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• 2002

A long-term energy system in the future is expected to be based on the ideal circulation system between water and hydrogen in the sense that the hydrogen prepared from water eventually returns to water again after its use. Currently, with respect to the hydrogen energy system, it is predicted that the turning-point at which the production cost of hydrogen will become to be lower than that of fossil fuels would be after 2010. However, fuel cell technology would be able to be practically used for the applications to the transportation vehicles and small-scale power sources from 2004, and therefore, an efficient construction of the infrastructure covering hydrogen production and supply systems would be required with short-/mid-term technologies for the $CO_2$ reduction associated with fossil fuel utilization. In this paper, the hydrogen quantity available in domestic market has been estimated focusing on the hydrogen by-produced from domestic industries, and also the infrastructure for hydrogen-driven vehicles like fuel cell cars has been reviewed.

• Toxicological Research
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• v.23 no.2
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• pp.115-121
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• 2007

Biotechnology is often described as the 'exploitation of biological processes for industrial purposes'. The last twenty years have seen phenomenal growth in this industry. The 21 century promises to see further advances in the field. However, since the cost of research is high, and the potential returns are linked to exclusivity, intellectual property protection is critical to this burgeoning industry. Without protection such investments in R&D would not be made and, the benefit that BT-related development are expected to bring, would not occur. BT industry are eager for high technology, and the technology must be transferred to a corporation from a research organization. In order to be successful, it is important that scientist must be directed toward R&D outcome beyond performance assessment. The process to gain a outcome involves multiple steps to turn the idea into the profit, and intellectual property issues are considered into the critical factors to affect the quality of R&D. The management of Intellectual property is very important in R&D. However, According to the survey conducted by KIIP (Korea Institute of Intellectual Property) and KOSEF (Korea Science and Engineering Foundation) in 2006, it is estimated the ability to treat Intellectual property is not sufficient because 82.5% of the respondents have not received an education. Governmental Support is needed to prompt systematically the ability of intellectual property management through education and consulting.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.3
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• pp.73-85
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• 2020

The study aims to provide better understanding of sustainable earnings by a comprehensive analysis of earnings persistence of business firms in Vietnam as an example of developing economies in South-East Asia. Dataset of 1,278 publicly listed firms (excluding banking and financial services firms) on Vietnam Stock Exchange for the period from 2008 to 2017 was collected. By applying fixed effect regression model, the empirical results provided the basis to measure the persistence index (Pers index) and find low level of their earnings persistence. The literature of earnings quality analysis in developed countries suggests earnings persistence as a noteworthy determinant of future earnings forecast and stock valuation. However, research of sustainable earnings in developing countries is still highly underdeveloped. For Vietnamese listed firms, the average Pers index was estimated for the period from 2008 to 2010, indicating low level of earnings persistence. We also incorporated earnings persistence level into future earnings forecast by running the quintile regression model divided the data into four equal levels and conducted each section independently to see the difference in each percentile, thence assessed the factors' influence on the specific model. The findings provide important information on the expected returns of firms, especially helping investors make sound decisions.

• The Journal of Asian Finance, Economics and Business
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• v.5 no.3
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• pp.19-29
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• 2018

This research examined the alternatives of Jensen's alpha (α) estimation models in the Capital Asset Pricing Model, discussed by Treynor (1961), Sharpe (1964), and Lintner (1965), using the robust maximum likelihood type m-estimator (MM estimator) and Bayes estimator with conjugate prior. According to finance literature and practices, alpha has often been estimated using ordinary least square (OLS) regression method and monthly return data set. A sample of 50 securities is randomly selected from the list of the S&P 500 index. Their daily and monthly returns were collected over a period of the last five years. This research showed that the robust MM estimator performed well better than the OLS and Bayes estimators in terms of efficiency. The Bayes estimator did not perform better than the OLS estimator as expected. Interestingly, we also found that daily return data set would give more accurate alpha estimation than monthly return data set in all three MM, OLS, and Bayes estimators. We also proposed an alternative market efficiency test with the hypothesis testing Ho: α = 0 and was able to prove the S&P 500 index is efficient, but not perfect. More important, those findings above are checked with and validated by Jackknife resampling results.

• Proceedings of the Korean Institute of Information and Commucation Sciences Conference
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• 2007.06a
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• pp.495-498
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• 2007

Recently, as REID Tag and Reader has been attached to, and wireless internet has been added to a mobile phone, the commercialization of Mobile RFID Service to obtain necessary information on daily life and use various applications by using mobile communication infra is drawing nearer. A new returns by Mobile RFID Service can be expected, however, the exact demand forecasting for the Mobile RFID Service is essential to induce mass investment from related communication enterprises. This study tries to get a foothold in enlarging the investment from related communication enterprises through demand forecasting for the Mobile RFID Service and to be helpful to the decision on their investment by predicting the demand on the service various Mobile RFID Service Models.

• Knowledge Management Research
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• v.13 no.5
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• pp.139-160
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• 2012

Win-win growth between large companies and small and medium enterprises (SMEs) become a critical encomic and social issue in Korea. Korea government has been attempted to establish strong policy to build right win-win relationship between large companies and SMEs. Along with this strong drive from Korea government, a variety of strategies that enhance win-win relationships between large companies and SMEs have been adopted. Win-win growth policy is expected to provide positive impact on sustainable competitive advantage of firms. Therefore, many studies have focused on the win-win growth policy success factors, type of the policy, and the results of the policy. Although there is much literature on the win-win growth policy, the effects of win-win policy on firm value is not well understood. We addressed this issue by exploring how win-win growth policy influences a firm's market value using event study methodology. We evaluated the cumulative abnormal returns for win-win growth policy announced by Korean large firms from 2004 to 2012. The results of this study insisted that the announcements of win-win growth policy show negative impact on firm's market value, which is not consistent with previous studies. The findings of this study offer insights that may help government policy makers and managers to revise their policy for better outcomes of their win-win growth policy.

• Journal of the Korean Society for Railway
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• v.10 no.2 s.39
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• pp.137-145
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• 2007

In traditional financial theory, the discount cash flow model(DCF or NPV) operates as the basic framework for most analyses. In doing valuation analysis, the conventional view is that the net present value(NPV) of a project is the measure of the present value of expected net cash flows. Thus, investing in a positive(negative) NPV project will increase(decrease) firm value. Recently, this framework has come under some fire for failing to consider the options of the managerial flexibilities. Real option valuation(ROV) considers the managerial flexibility to make ongoing decisions regarding the implementation of investment projects and the deployment of real assets. The appeal of the framework is natural given the high degree of uncertainty that firms face in their technology investment decisions. This paper suggests an algorithm for estimating volatility of logarithmic cash flow returns of real assets based on the Black-Sholes option pricing model, the binomial option pricing model, and the Monte Carlo simulation. This paper uses those models to obtain point estimates of real option value with the G7- HSR350X(high-speed train).

• The Journal of Asian Finance, Economics and Business
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• v.7 no.9
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• pp.117-123
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• 2020

The objective of this study is to examine whether the four-factor model explains variation in the expected return of stocks on the Stock Exchange of Thailand. The study used individual monthly data for all stock with continuous trading on the Stock Exchange of Thailand. The study used sample data of 429 listed stocks to construct 8 portfolios bases on the industries. In this study, subject to market factors such as size, the book-to-market ratio, the market beta, and stock liquidity are taken into account. The Empirical analysis reveals that not all of the variables included in the four-factor asset pricing model are statistically significant to do affect the formation of the rate of return on stocks calculated on a monthly basis. The result shows that market beta, stock liquidity, and the book-to-market ratio has a significant increase in the rate of return on shares listed on the Consumer Products. It is therefore apparent that at least in respect of monthly analysis, the predictions of bass models in the field of modern finance theory systematic risk measured by the beta coefficient did play a significantly important role in the formation of the rate of return on the Stock Exchange of Thailand.

• YAKHAK HOEJI
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• v.58 no.2
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• pp.107-111
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• 2014

Unused medication disposal is a problem due to the cost of disposing as well as potential risk of inadvertent dosing. Investigating medication returns is expected to suggest areas for targeting interventions to reduce medication waste. Therefore, the aim of this study was to examine types of medications and identify the expiration date of the medications returned to the community pharmacies through "Drug-Take Back" program. Method: From October 10, 2012 to November 14, 2012, the medications returned to the 58 community pharmacies in Korea were examined. Results: A total of 22,160 g of pill medications were collected; 52.8% for prescription drugs and 47.2% for non-prescription drugs, respectively. The weight of the expired pill medications was more than 5 times that of the non-expired pill medications. On the other hand, 6,168 ml of liquid medications were returned; 80.0% for prescription medication and 20.0% for non-prescription medications, respectively. Of the total oral liquid medications, the volume of the expired medications was more than 5 times that of the non-expired medications. Conclusion: The majority of medications returned to the community pharmacies were prescription drugs rather than non-prescription drugs. In addition, most of the drugs were expired when they returned.