• Management & Information Systems Review
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• v.35 no.4
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• pp.251-268
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• 2016

The present study has the purpose of analyzing the relationship between entrepreneurial characteristics and success factors of small-scale start-up founders as well as the relationship between success factors and performances of start-up businesses. It is also aimed in this study to determine the structural effects of start-up founders' characteristic upon their performances and by thus, to provide those who prepare for and/or have been operating start-up business with suggestions for stable and successful start-up as well operation. The study resulted in the following outcomes: First, the analysis of the relationship between characteristics and success factors of start-up business found that the empirical characteristics of small-scale start-up business founders might influence every factor for their success including the financial conditions as well as management of shops, products and service. Their psychological characteristics, however, turned out to have influence upon the management of products and service only, but not upon the financial conditions and management of shops, a result implying that the higher desire and creativity small-scale start-up business founders have, the more probable the start-up businesses become successful. Second it was learned from the analysis of the relationship between success factors and performances of start-up businesses that such success factors of start-ups as financial conditions as well as management of shops, products and service could exercise impact upon their performances, signifying that the exact decision making of small-scale start-up founders might affect the performances of small-scale start-up businesses. Third, the analysis of the relationship between entrepreneurial characteristics and performances of start-up founders revealed that both empirical and psychological characteristics of start-up founders might have influence upon the performances of start-up businesses, leading to the conclusion that small-scale start-up founders could achieve higher performances in their start-up when they are highly aware of empirical and psychological characteristics for start-up as part of entrepreneurial characteristics.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.46 no.1
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• pp.91-104
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• 2023

The records system is believed to have started in Italy in the 14th century in line with trade developments in Europe. In 1491, Luca Pacioli, a mathematician, and an Italian Franciscan monk wrote the first book that described double-entry accounting processes. In many countries, including Korea, the government accounting standards used single-entry bookkeeping rather than double-entry bookkeeping that can be aggregated by account subject. The cash-based and single-entry bookkeeping used by the government in the past had limitations in providing clear information on financial status and establishing a performance-oriented financial management system. Accordingly, the National Accounting Act (promulgated in October 2007) stipulated the introduction of double-entry bookkeeping and accrual accounting systems in the government sector from January 1, 2009. Furthermore, the Korean government has also introduced International Financial Reporting Standards (IFRS), and the System of National Accounts (SNA). Since 2014, Korea owned five national accounts. In Korea, valuation began with the 1968 National Wealth Statistics Survey. The academic origins of the valuation of national wealth statistics which had been investigated by due diligence every 10 years since 1968 are based on the 'Engineering Valuation' of professor Marston in the Department of Industrial Engineering at Iowa State University in the 1930s. This field has spread to economics, etc. In economics, it became the basis of capital stock estimation for positive economics such as econometrics. The valuation by the National Wealth Statistics Survey contributed greatly to converting the book value of accounting data into vintage data. And in 2000 National Statistical Office collected actual disposal data for the 1-digit asset class and obtained the ASL(average service life) by Iowa curve. Then, with the data on fixed capital formation centered on the National B/S Team of the Bank of Korea, the national wealth statistics were prepared by the Permanent Inventory Method(PIM). The asset classification was also classified into 59 types, including 2 types of residential buildings, 4 types of non-residential buildings, 14 types of structures, 9 types of transportation equipment, 28 types of machinery, and 2 types of intangible fixed assets. Tables of useful lives of tangible fixed assets published by the Korea Appraisal Board in 1999 and 2013 were made by the Iowa curve method. In Korea, the Iowa curve method has been adopted as a method of ASL estimation. There are three types of the Iowa curve method. The retirement rate method of the three types is the best because it is based on the collection and compilation of the data of all properties in service during a period of recent years, both properties retired and that are still in service. We hope the retirement rate method instead of the individual unit method is used in the estimation of ASL. Recently Korean government's accounting system has been developed. When revenue expenditure and capital expenditure were mixed in the past single-entry bookkeeping we would like to suggest that BOK and National Statistical Office have accumulated knowledge of a rational difference between revenue expenditure and capital expenditure. In particular, it is important when it is estimated capital stock by PIM. Korea also needs an empirical study on economic depreciation like Hulten & Wykoff Catalog A of the US BEA.

• Journal of Technology Innovation
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• v.22 no.1
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• pp.149-175
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• 2014

This study analyzed the effect of corporate innovation strategies on patent production and ultimately on technological change and new product development of firms in South Korea. The intent was to derive efficient strategies for enhancing technological performance of the firms. For the empirical analysis, three sources of data were combined: four waves of the Human Capital Corporate Panel Survey (HCCP) data collected by the Korea Research Institute for Vocational Education and Training (KRIVET), corporate financial data obtained from the Korea Information Service (KIS), and corporate patent data provided by the Korean Intellectual Property Office (KIPO). The patent production function was estimated by zero-inflated negative binomial (ZINB) regression. The technological performance function was estimated by two-stage regression, taking into account the endogeneity of patent production. An ordered logit model was applied for the second stage regression. Empirical results confirmed the critical role of corporate innovation strategies in patent production and in facilitating technological change and new product development of the firms. In patent production, the firms' R&D investment and human resources were key determinants. Higher R&D intensity led to more patents, yet with decreasing marginal productivity. A larger stock of registered patents also led to a larger flow of new patent production. Firms were more prolific in patent production when they had high-quality personnel, intensely investing in human resource development, and adopting market-leading or fast-follower strategy as compared to stability strategy. In technological performance, the firms' human resources played a key role in accelerating technological change and new product development. R&D intensity expedited new product development of the firm. Firms adopting market-leading or fast-follower strategy were at an advantage than those with stability strategy in technological performance. Firms prolific in patent production were also advanced in terms of technological change and new product development. However, the nexus between patent production and technological performance measures was substantially reduced when controlling for the endogeneity of patent production. These results suggest that firms need to strengthen the linkage between patent production and technological performance, and take strategies that address each firm's capacities and needs.

• Journal of Korean Home Economics Education Association
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• v.34 no.3
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• pp.101-116
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• 2022

This study aims to apply the problem-based learning method to a college course on 'Consumer Studies' in a teacher education program. The participants of this study were 27 undergraduate students who were enrolled in the course. The PBL class was implemented for seven weeks using two problems: proposing special lectures on economic concepts and financial consulting. The effectiveness of PBL was analyzed through self-reflective journals, self-assessment, and a learning satisfaction survey of students. The result of this study was as follows. Students achieved the learning objectives and strengthened their collaboration and communication skills with team members during the PBL process. Moreover, students improved their self-directed learning and problem-solving ability through the PBL class. The results of self-assessment, in terms of learning task performance, active interaction, and self-directed learning were generally high at 4.63 points. In addition, the overall learning satisfaction level was very high, with a score of 4.75. The results will provide effective information on PBL classes to instructors and prospective teachers and will be used as data for learner-centered PBL classes.

• Journal of Korean Library and Information Science Society
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• v.54 no.4
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• pp.415-436
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• 2023

In this study, we aimed to examine the level of implementation of the second comprehensive plan for promoting academic libraries (2019-2023) by analyzing key statistics of academic libraries and gathering perceptions from library staff. We analyzed the changes in major statistical indicators of libraries over the past five years. Additionally, we surveyed library staff to understand their overall perceptions of the plan and their attitudes towards the 17 sub-tasks outlined in it. The analysis of 369 survey responses revealed several key findings. Firstly, most respondents comprehended the plan well and frequently utilized it for developing their libraries' development and implementation plans. Secondly, the IPA results indicated that regardless of the type of university, there should be a continuous focus on facility improvement, teaching-learning support, and expanding access to academic resources. Efforts to develop library policies and strengthen human and financial resources were identified as crucial. Thirdly, four-year universities particularly emphasized the importance of expanding access to international academic resources compared to junior colleges. Conversely, junior colleges perceived foundational skill-building programs and inclusive services as more significant than four-year universities. The application of the IPA diagonal model revealed that the performance levels of all sub-tasks were lower than their perceived importance levels, suggesting the need for strategies to enhance effectiveness in future comprehensive plan formulation.

• Journal of the Economic Geographical Society of Korea
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• v.14 no.4
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• pp.553-567
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• 2011

Since their establishment in 1999, Regional Development Agencies in England have been a critical catalyst for sustaining regional development, by linking the central government and the region. Nevertheless, the new Coalition Government formed in May 2010 is to abolish RDAs and is to be replaced by Local Enterprise Partnerships(LEP). This article looks at the performance and the present reform process of the English Regional Development Agencies(RDA). It argues that RDAs have been a sort of laboratory to expose the possibility of realizing the new regionalist approach away from the government-centered approach. Nevertheless, the case of RDAs in England shows that the RDA model is less likely to be effective without substantial devolution. It shows that the extent to which RDAs contribute to the regional economy tends to be much higher in soft infra-centered projects, such as business supports and skills development, than physical infrastructure projects. It argues that the LEP model, which is to replace RDAs, is controversial, especially in terms of spatial boundary and financial structure.

• Journal of the Korean Society of Safety
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• v.32 no.2
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• pp.34-37
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• 2017

In recent emerging industry, Display field becomes bigger and bigger, and also semiconductor technology becomes high density integration. In Flat Panel Display, there is an issue that electrostatic phenomenon results in fine dust adsorption as electrostatic capacity increases due to bigger size. Destruction of high integrated circuit and pattern deterioration occur in semiconductor and this causes the problem of weakening of thermal resistance. In order to solve this sort of electrostatic failure in this process, Soft X-ray ionizer is mainly used. Soft X-ray Ionizer does not only generate electrical noise and minute particle but also is efficient to remove electrostatic as it has a wide range of ionization. X-ray Generating efficiency has an effect on soft X-ray Ionizer affects neutralizing performance. There exist variable factors such as type of anode, thickness, tube voltage etc., and it takes a lot of time and financial resource to find optimal performance by manufacturing with actual X-ray tube source. MCNPX (Monte Carlo N-Particle Extended) is used for simulation to solve this kind of problem, and optimum efficiency of X-ray generation is anticipated. In this study, X-ray generation efficiency was measured according to target material thickness using MCNPX under the conditions that tube voltage is 5 keV, 10 keV, 15 keV and the target Material is Tungsten(W), Gold(Au), Silver(Ag). At the result, Gold(Au) shows optimum efficiency. In Tube voltage 5 keV, optimal target thickness is $0.05{\mu}m$ and Largest energy of Light flux appears $2.22{\times}10^8$ x-ray flux. In Tube voltage 10 keV, optimal target Thickness is $0.18{\mu}m$ and Largest energy of Light flux appears $1.97{\times}10^9$ x-ray flux. In Tube voltage 15 keV, optimal target Thickness is $0.29{\mu}m$ and Largest energy of Light flux appears $4.59{\times}10^9$ x-ray flux.

• Journal of KIISE:Software and Applications
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• v.29 no.4
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• pp.270-277
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• 2002

Text filtering is a task of deciding whether a document has relevance to a specified topic. As Internet and Web becomes wide-spread and the number of documents delivered by e-mail explosively grows the importance of text filtering increases as well. The aim of this paper is to improve the accuracy of text filtering systems by using machine learning techniques. We apply AdaBoost algorithms to the filtering task. An AdaBoost algorithm generates and combines a series of simple hypotheses. Each of the hypotheses decides the relevance of a document to a topic on the basis of whether or not the document includes a certain word. We begin with an existing AdaBoost algorithm which uses weak hypotheses with their output of 1 or -1. Then we extend the algorithm to use weak hypotheses with real-valued outputs which was proposed recently to improve error reduction rates and final filtering performance. Next, we attempt to achieve further improvement in the AdaBoost's performance by first setting weights randomly according to the continuous Poisson distribution, executing AdaBoost, repeating these steps several times, and then combining all the hypotheses learned. This has the effect of mitigating the ovefitting problem which may occur when learning from a small number of data. Experiments have been performed on the real document collections used in TREC-8, a well-established text retrieval contest. This dataset includes Financial Times articles from 1992 to 1994. The experimental results show that AdaBoost with real-valued hypotheses outperforms AdaBoost with binary-valued hypotheses, and that AdaBoost iterated with random weights further improves filtering accuracy. Comparison results of all the participants of the TREC-8 filtering task are also provided.

• Information Systems Review
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• v.16 no.3
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• pp.161-177
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• 2014

Corporate credit rating assessment consists of complicated processes in which various factors describing a company are taken into consideration. Such assessment is known to be very expensive since domain experts should be employed to assess the ratings. As a result, the data-driven corporate credit rating prediction using statistical and artificial intelligence (AI) techniques has received considerable attention from researchers and practitioners. In particular, statistical methods such as multiple discriminant analysis (MDA) and multinomial logistic regression analysis (MLOGIT), and AI methods including case-based reasoning (CBR), artificial neural network (ANN), and multiclass support vector machine (MSVM) have been applied to corporate credit rating.2) Among them, MSVM has recently become popular because of its robustness and high prediction accuracy. In this study, we propose a novel optimized MSVM model, and appy it to corporate credit rating prediction in order to enhance the accuracy. Our model, named 'GAMSVM (Genetic Algorithm-optimized Multiclass Support Vector Machine),' is designed to simultaneously optimize the kernel parameters and the feature subset selection. Prior studies like Lorena and de Carvalho (2008), and Chatterjee (2013) show that proper kernel parameters may improve the performance of MSVMs. Also, the results from the studies such as Shieh and Yang (2008) and Chatterjee (2013) imply that appropriate feature selection may lead to higher prediction accuracy. Based on these prior studies, we propose to apply GAMSVM to corporate credit rating prediction. As a tool for optimizing the kernel parameters and the feature subset selection, we suggest genetic algorithm (GA). GA is known as an efficient and effective search method that attempts to simulate the biological evolution phenomenon. By applying genetic operations such as selection, crossover, and mutation, it is designed to gradually improve the search results. Especially, mutation operator prevents GA from falling into the local optima, thus we can find the globally optimal or near-optimal solution using it. GA has popularly been applied to search optimal parameters or feature subset selections of AI techniques including MSVM. With these reasons, we also adopt GA as an optimization tool. To empirically validate the usefulness of GAMSVM, we applied it to a real-world case of credit rating in Korea. Our application is in bond rating, which is the most frequently studied area of credit rating for specific debt issues or other financial obligations. The experimental dataset was collected from a large credit rating company in South Korea. It contained 39 financial ratios of 1,295 companies in the manufacturing industry, and their credit ratings. Using various statistical methods including the one-way ANOVA and the stepwise MDA, we selected 14 financial ratios as the candidate independent variables. The dependent variable, i.e. credit rating, was labeled as four classes: 1(A1); 2(A2); 3(A3); 4(B and C). 80 percent of total data for each class was used for training, and remaining 20 percent was used for validation. And, to overcome small sample size, we applied five-fold cross validation to our dataset. In order to examine the competitiveness of the proposed model, we also experimented several comparative models including MDA, MLOGIT, CBR, ANN and MSVM. In case of MSVM, we adopted One-Against-One (OAO) and DAGSVM (Directed Acyclic Graph SVM) approaches because they are known to be the most accurate approaches among various MSVM approaches. GAMSVM was implemented using LIBSVM-an open-source software, and Evolver 5.5-a commercial software enables GA. Other comparative models were experimented using various statistical and AI packages such as SPSS for Windows, Neuroshell, and Microsoft Excel VBA (Visual Basic for Applications). Experimental results showed that the proposed model-GAMSVM-outperformed all the competitive models. In addition, the model was found to use less independent variables, but to show higher accuracy. In our experiments, five variables such as X7 (total debt), X9 (sales per employee), X13 (years after founded), X15 (accumulated earning to total asset), and X39 (the index related to the cash flows from operating activity) were found to be the most important factors in predicting the corporate credit ratings. However, the values of the finally selected kernel parameters were found to be almost same among the data subsets. To examine whether the predictive performance of GAMSVM was significantly greater than those of other models, we used the McNemar test. As a result, we found that GAMSVM was better than MDA, MLOGIT, CBR, and ANN at the 1% significance level, and better than OAO and DAGSVM at the 5% significance level.

• Health Policy and Management
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• v.27 no.4
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• pp.273-275
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• 2017

It has been forty years since the implementation of National Health Insurance (NHI) in South Korea. Following the 1977 legislature mandating medical insurance for employees and dependents in firms with more than 500 employees, South Korea expanded its health insurance to urban residents in 1989. Resultantly, total expenses of the National Health Insurance Service (NHIS) have greatly increased from 4.5 billion won in 1977 to 50.89 trillion won in 2016. With multiple insurers merging into the NHI system in 2000, a single-payer healthcare system emerged, along with separation policy of prescribing and dispensing. Following such reform, an emerging financial crisis required injections from the National Health Promotion Fund. Forty years following the introduction of the NHI system, both praise and criticism have been drawn. In just 12 years, the NHI achieved the fastest health population coverage in the world. Current medical expenditure is not high relative to the rest of the Organization for Economic Cooperation and Development. The quality of acute care in Korea is one of the best in the world. There is no sign of delayed diagnosis and/or treatment for most diseases. However, the NHI has been under-insured, requiring high-levels of out-of-pocket money from patients and often causing catastrophic medical expenses. Furthermore, the current environmental circumstances of the NHI are threatening its sustainability. Low birth rate decline, as well as slow economic growth, will make sustainment of the current healthcare system difficult in the near future. An aging population will increase the amount of medical expenditure required, especially with the baby-boomer generation of those born between 1955 and 1965. Meanwhile, there is always the problem of unification for the Korean Peninsula, and what role the health insurance system will have to play when it occurs. In the presidential election, health insurance is a main issue; however, there is greater focus on expansion and expenditure than revenue. Many aspects of Korea's NHI system (1977) were modeled after the German (1883) and Japanese (1922) systems. Such systems were created during an era where infections disease control was most urgent and thus, in the current non-communicable disease (NCD) era, must be redesigned. The Korean system, which is already forty years old, must be redesigned completely. Although health insurance benefit expansion is necessary, financial measures, as well as moral hazard control measures, must also be considered. Ultimately, there are three aspects that we must consider when attempting redesign of the system. First, the health security system must be reformed. NHI and Medical Aid must be amalgamated into one system for increased effectiveness and efficiency of the system. Within the single insurer system of the NHI must be an internal market for maximum efficiency. The NHIS must be separated into regions so that regional organizers have greater responsibility over their actions. Although insurance must continue to be imposed nationally, risk-adjustment must be distributed regionally and assessed by different regional systems. Second, as a solution for the decreasing flow of insurance revenue, low premium level must be increased to an appropriate level. Likewise, the national reserve fund (No. 36, National Health Insurance Act) must be enlarged for re-unification preparation. Third, there must be revolutionary reform of benefit package. The current system built a focus on communicable diseases which is inappropriate in this NCD era. Medical benefits must not be one-time events but provide chronic disease management. Chronic care models, accountable care organization, patient-centered medical homes, and other systems that introduce various benefit packages for beneficiaries must be implemented. The reimbursement system of medical costs should be introduced to various systems for different types of care, as is the case with part C (Medicare Advantage Program) of America's Medicare system that substitutes part A and part B. Pay for performance must be expanded so that there is not only improvement in quality of care but also medical costs. Moreover, beneficiaries of the NHI system must be aware of the amount of their expenditure through a deductible payment system so that spending can be profiled and monitored. The Moon Jae-in Government has announced its plans to expand the NHI system; however, it is important that a discussion forum is created so that more accurate analysis of the NHI, its environments, and current status of health care system, can take place for reforming NHI.