• Korea Journal of Hospital Management
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• v.6 no.2
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• pp.37-69
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• 2001

A new cost management system, called Activity Based Costing (ABC) system, has arisen to solve the limitation of a Traditional Cost Accounting (TCA) system until last two decades and ABC has been applied by many companies. TCA systems have limitation in tracing cost because they arbitrarily allocate overhead cost to the cost objects without standard for direct cost distribution. ABC is an accounting system that assigns costs to products or services based on the resources they consume. The costs of all activities are traced to the products for which they are performed. Therefore ABC is a cost management system that provides a matrix to accurately quantify consumed resources triggered by activities and activities triggered by products and services. There is little implementation of ABC in the health services field, one of service industries, due to complicated and many activities, and volatile cost object. However, the necessity for applying reasonable cost accounting system is largely issuing as strategy responding hostile environment, and financial pressure, and it is imperative to implement the Activity Based Costing (ABC) system. Therefore, this study presents the framework to develop ABC system for total health service organizations. Cost objects in this study base on medical service activities per health insurance claim from one general hospital located in Metropolitan Statistical Areas (MSAs). Medical service activities include all health insurance claims in the hospital. The purpose of the study is presenting useful tools and basic frame to develop Activity Based Costing system for health service organizations which want to use ABC system. The steps to develop ABC system for health service organizations are following: 1. Identifying of activity centers; 2. Definition of cost objects and activity by activity center; 3. Analysis of activity and tracing activity contribution; 4. Allocation of direct cost for specific activity; 5. Allocation of indirect cost for specific activity; 6. Allocation of depreciation for facilities, applicants, and consumption goods; 7. Allocation of administration cost; 8. Allocation of cost among activity centers; and 9. Tracing cost of cost objects by activity center. This study identified necessary information from existing reports which hospitals generally made by each step, and defined outcome which had to be produced in each step using this information. The steps of this study had limitation to apply all different size hospitals because the steps were structured ABC system by one hospital, however, this study used similar basic framework and methods with general cases. When a health service organization want to apply Activity Based Costing (ABC) system on all activities of it in future days, this study is very useful to design system structure in the health service organization.

• Journal of Intelligence and Information Systems
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• v.23 no.4
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• pp.127-146
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• 2017

Services using artificial intelligence have begun to emerge in daily life. Artificial intelligence is applied to products in consumer electronics and communications such as artificial intelligence refrigerators and speakers. In the financial sector, using Kensho's artificial intelligence technology, the process of the stock trading system in Goldman Sachs was improved. For example, two stock traders could handle the work of 600 stock traders and the analytical work for 15 people for 4weeks could be processed in 5 minutes. Especially, big data analysis through machine learning among artificial intelligence fields is actively applied throughout the financial industry. The stock market analysis and investment modeling through machine learning theory are also actively studied. The limits of linearity problem existing in financial time series studies are overcome by using machine learning theory such as artificial intelligence prediction model. The study of quantitative financial data based on the past stock market-related numerical data is widely performed using artificial intelligence to forecast future movements of stock price or indices. Various other studies have been conducted to predict the future direction of the market or the stock price of companies by learning based on a large amount of text data such as various news and comments related to the stock market. Investing on commodity asset, one of alternative assets, is usually used for enhancing the stability and safety of traditional stock and bond asset portfolio. There are relatively few researches on the investment model about commodity asset than mainstream assets like equity and bond. Recently machine learning techniques are widely applied on financial world, especially on stock and bond investment model and it makes better trading model on this field and makes the change on the whole financial area. In this study we made investment model using Support Vector Machine among the machine learning models. There are some researches on commodity asset focusing on the price prediction of the specific commodity but it is hard to find the researches about investment model of commodity as asset allocation using machine learning model. We propose a method of forecasting four major commodity indices, portfolio made of commodity futures, and individual commodity futures, using SVM model. The four major commodity indices are Goldman Sachs Commodity Index(GSCI), Dow Jones UBS Commodity Index(DJUI), Thomson Reuters/Core Commodity CRB Index(TRCI), and Rogers International Commodity Index(RI). We selected each two individual futures among three sectors as energy, agriculture, and metals that are actively traded on CME market and have enough liquidity. They are Crude Oil, Natural Gas, Corn, Wheat, Gold and Silver Futures. We made the equally weighted portfolio with six commodity futures for comparing with other commodity indices. We set the 19 macroeconomic indicators including stock market indices, exports & imports trade data, labor market data, and composite leading indicators as the input data of the model because commodity asset is very closely related with the macroeconomic activities. They are 14 US economic indicators, two Chinese economic indicators and two Korean economic indicators. Data period is from January 1990 to May 2017. We set the former 195 monthly data as training data and the latter 125 monthly data as test data. In this study, we verified that the performance of the equally weighted commodity futures portfolio rebalanced by the SVM model is better than that of other commodity indices. The prediction accuracy of the model for the commodity indices does not exceed 50% regardless of the SVM kernel function. On the other hand, the prediction accuracy of equally weighted commodity futures portfolio is 53%. The prediction accuracy of the individual commodity futures model is better than that of commodity indices model especially in agriculture and metal sectors. The individual commodity futures portfolio excluding the energy sector has outperformed the three sectors covered by individual commodity futures portfolio. In order to verify the validity of the model, it is judged that the analysis results should be similar despite variations in data period. So we also examined the odd numbered year data as training data and the even numbered year data as test data and we confirmed that the analysis results are similar. As a result, when we allocate commodity assets to traditional portfolio composed of stock, bond, and cash, we can get more effective investment performance not by investing commodity indices but by investing commodity futures. Especially we can get better performance by rebalanced commodity futures portfolio designed by SVM model.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.13 no.3
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• pp.85-98
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• 2018

This study aims to investigate the effects of venture & inno-biz companies' technological innovation competences on technological performances and economic competitive advantage, using VRIO framework. The empirical data for this study were based on the technology assessment results of Korea Technology Finance Corporation (KOTEC) on 3,462 venture & inno-biz companies and the following 2 years' financial data. Sample companies with technological innovation resources, such as technology management strategy(Value), differentiation of technology(Rarity), imitation difficulty of technology(Imitability) and technical organization capability(Organization), made efforts to expand their intellectual property rights, technological development and commercialization of new products, thereby ensuring technological competitive advantage. Furthermore, technological competitive advantage were proved to improve sales growth, increase in operating revenue, and financial soundness. Compared with four VRIO factors' influence on business performance, imitation difficulty of technology(Imitability) and organization technological capability(Organization) had much more influence than any other internal resources or capabilities respectively.

• The Korean Society of Law and Medicine
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• v.11 no.2
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• pp.275-307
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• 2010

In the presidential new-year address in January 2, 2009, the President declared that 17 kinds of new driving force of growth that could create high-added value be selected to step up job creation and an increase in national wealth. The Ministry of Strategy & Finance announced plans for the 17 kinds of new driving force of growth after the presidential address. Specifically, that ministry announced an ambitious plan to select health care service named 'Global Health Care' as one of the five service industries that could create high-added value in a move to provide jobs to approximately 7,000 people and produce pervasive economic effects coming up to a trillion and 10 billion won. To attain the goal, several action plans were mapped out to globalize domestic medical institutions, to rearrange the relevant law and system for the purposes of raising awareness of domestic medical institutions among foreign patients and improving their accessibility and post-satisfaction level, and to lure lots of foreign patients through financial assistance. At the same time, the government announced plans to lure severe patients such as those in want of surgery or organ transplant, cancer patients or patients with heart diseases to create high-added value on a long-term basis. Thus, the government announced that it planned to formulate such strategies and to enter an agreement with foreign governments to attract plenty of foreign patients. In fact, however, there are little full-scale evaluation of medical tourism though it's been a year since it was introduced, and there are few actual efforts to implement what the government announced, either. According to the results of the evaluation of medical tourism, domestic hospitals are said to undergo little significant changes after the introduction of medical tourism, which shows that they take a dim view of medical tourism instead of having expectations for that. The medical tourism industries in major Asian countries have been dynamized, and there are several factors of their success. First of all, they are successful in creating new market opportunities by incorporating related industries such as medicine, tourism and IT and in developing medical tourism products and differentiated marketing by taking advantage of their competitive edge. They have offered full-fledged assistance to this sector, and another reason is the improved international credibility of their medical service. If our country fails to pinpoint our problems in consideration of the cases of the Asian countries or to provide appropriate financial aid, our country is bound to lag behind them. Given this reality, how to assess medical tourism and what challenges this sector is confronted with are discussed.

• Health Policy and Management
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• v.5 no.2
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• pp.35-69
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• 1995

The managerial environment of hospitals in Korea characterized by low levels of medical insurance fees is worsening by increasing government regulations as to the utilization of medical services, rising costs of labor, material, and medical equipments, growing patient expectations concerning the quality of services, and escalating competitions among large hospitals in the market. Hospitals should seek for their survival strategies in this harsh environment and they should have information about costs of their products in doing so. However, it has not been available due to the complexity of the production process of hospital services. The objectives of this study were to develop a service-based cost accounting model and to apply the developed model to a study hospital to obtain cost information of hospital services. A model commonly used for the job-order product cost accounting in the manufacturing industry was modified for the use in hospitals in Korea. Actual costs, instead of standard costs, incurred to produce a unit of services during a given period of time were estimated in the model. Data required to implement the model included financial information, statistics for the allocation of supportive cost center costs to final cost centers, statistics for the allocation of final cost center costs to services, and the volume of each services charged to patients during a study period. The model was executed using data of a university teaching hospital located in Seoul for the fiscal year 1992. Data for financial information, allocation statistics fo supportive service costs, and the volume of services, most of them in electronic form, were available to the study. Data for allocation statistics of final cost center costs were collected in the study. There were 15 types of evaluation and management service, 2, 923 types of technical service, and 2, 608 types of drug and material service charged to patients in the study hospital during the fiscal year 1992. Labor costs of each of seven types of pesonnel, material costs of 611 types of drugs and materials, and depreciation costs of 212 types of medical equipments, miscellaneous costs, and indirect costs incurred in producing a unit of each services were estimated. Medical insurance fees for basic services such as evaluation and management of inpatients and outpatients, injection, and filling prescriptions, and for operating procedures were found to be set lower than costs. Infrequent services which use expensive medical equipments showed negative revenuse as well. On the other hand, fees for services not covered by the insurance such as CT, MRI and Sonogram, and for laboratory tests were higher than costs. This study has a significance in making it possible for a hospital to obtain cost information for all types of services which produced income based on all types of expenses incurred during a given period of time. This information can assist the management of a hospital in finding an effective cost reduction strategy, an efficient service-mix strategy under a given fee structure, and an optimum strategy for within-hospital resource allocations.

• Journal of Science and Technology Studies
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• v.18 no.1
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• pp.219-265
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• 2018

Recently, interest in energy tranisition is rising. Energy transition requires active participation and cooperation of diverse stakeholders, including users / citizens, in that it requires not only changes in technological factors but also changes and coordination of various social factors. Living labs are attracting attention as one of the ways to do this. This article is a detailed analysis of the activities of the mini-PV living lab in the urban area from 2016 to 2017 at the Seoul, Sung Dae Goal. Through the Living Lab, mini PV DIY products, backup centers, local financial services, and the development of a variety of education and training strategies have been achieved. These activities and achievements were analyzed through questions raised on strategic, tactical, and operational levels, as well as through multi-level perspective and interaction between initiative, regime, and niche. In conclusion, this living lab activity confirmed the possibility of a 'transition lap' to solve social problems such as sustainability of energy production and utilization. In particular, it gained remarkable results in terms of the operational leves of transition management governance, that is, transition experiment, and it was also remarkable in that it was the initiative of citizens. However, it did not proceed without difficulty. In particular, structural problems such as the conflict between the flexibility inherent in living lab and the bureaucratic rigidity of the financial support organization have appeared. There was also a limitation that there was no 'transition field' on the strategic level necessary to replicate and expand strategic niches while spreading the knowledge gained from the transition experiment, forming the vision of transition.

• Journal of Distribution Science
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• v.13 no.6
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• pp.71-78
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• 2015

Purpose - This study attempts to analyze whether or not there are characteristics among the top management of companies that promote corporate performance at venture companies. It investigates the characteristics of the human and social capital that are inherent in top management at a venture company and conducts an empirical analysis of hypotheses examining if these characteristics will affect utilization of the governmental R&D support system as well as affect the firm's initial success. Research design, data, and methodology - This study conducted theoretical and empirical research together to accomplish the goal of the study. The pilot study researched human capital and social capital as the independent variables; the governmental R&D support system as the parameter; and, the initial success as the dependent variable. The empirical study carried out research on the model, establishment of hypotheses, and the statistical treatment. A survey was conducted targeting top management of high-tech venture companies in Daedeok Innopolis; 500 questionnaires were distributed; and, 222 were collected. Results - The human and social capital inherent in top management at venture companies in the early stages of their existence become good evaluation data for those who are invested in similar resources. If top management includes strong human and social capital, access to external resources will be easier; these will have a positive influence on the selection of overnmental support systems; and, this proper support will also have a positive influence on the initial success of the venture company. The results revealed the following. First, it was found that when the educational level and functional background, (the top management human capital), are the output function, top management human capital had a significant influence on selection of governmental R&D support funds. Second, it was found that the internal social capital and external social capital, (the top management social capital), had a significant influence on selection of governmental R&D support tasks. Third, it was found that selection of the governmental R&D support tasks at the start of the venture company had a positive influence on the corporate financial performance such as sales, business profits, and the increase in workers; and, had a significant influence on nonfinancial performance such as market share, competitive position, product competitiveness, and the future product development. Conclusions - Selection of the governmental R&D support system is not recognized as part of the direct sales of a venture company in its early stages, but as it can reduce costs for technical development and helps significantly in creating test products and mass production, it has a positive influence on the company's financial performance and nonfinancial performance as a result. Therefore, companies should take great efforts to frequently be selected as a candidate in the governmental R&D support system, as it can help facilitate R&D that requires extensive funds. As a result, companies can expect effects such as job creation and patent applications and they can advance future product sales.

• Journal of Animal Environmental Science
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• v.18 no.1
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• pp.35-44
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• 2012

This study was carried out to investigate the current status of management skill such as participation of consulting, vaccination program, financial projects, etc, and manures treatment system in pig farms. Data surveyed from a total of 100 farms including reproductive sow and fattening pig were collected and analyzed. The results obtained were as follows; 1. Farmers participated in consulting education of 4.56 times per a year. Evaluation of vaccination program was 3.86 of 5 points. The control of hygiene and disinfection was evaluated with the average of 3.27 points. Financial management showed the low level with 2.82 points. And then, the level of technical skill on raising was evaluated with average of 3.21 points. 2. The fields of competitive strength in farms, first of all, were the disease disinfection and therapy for pigs (43.4%). Secondly, farmers answered the productive skill for environmental-friendly animal products (37.4%). 3. Collection systems of manures were mainly used the slurry system (44.0%), and scraper method (43.0%) in pig farms, respectively. 4. Manures collected from farms have been treated and utilized with form of land-return after organic matters resolution (32.3%).

• Journal of the Korea Institute of Building Construction
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• v.18 no.3
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• pp.285-294
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• 2018

Due to the low interest rates of banks according to the breakdown economy after the global financial crisis in 2008 As a substitute for financial products, the investment demand has been increased for rentable investment funds such as commercial building and officetel. However, the problems such as oversupply, decrease of a rental profit and negative perception of development projects have been occurred. One of the primary problems is the existing deterministic method of project feasibility analysis. Therefore, the objective of this study is to develop feasibility model by applying system dynamics method in residential officetel. To achieve the objective, first, the previous studies are investigated. Second, the causal loop diagram is structured based on the collected data. Third, the feasibility model is developed through the causal loop diagram. Fourth, the effectiveness is validated and compared to collected actual data. The proposed model can be helpful whether or not conduct execution of an officetel development project to the decision makers.

• Journal of Distribution Research
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• v.7 no.1
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• pp.61-86
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• 2002

The number of people who perform their banking business on Internet has been increasing drastically during the recent period and the trend still continues. Banks and other types of financial institutions are now competing intensely with each other in attracting customers to this new innovative banking service. The marketers in charge of formulating and implementing the strategies for this new banking business need to understand the behavioral factors as well as the technical factors in order to succeed in attracting more customers to this new service. products. A deep understanding as to why and how the customers are adopting the new service developed on information technology is a prerequisite for a successful marketing effort. The purpose of this dissertation is to find out what factors are playing important roles in the customers'decision related to the adoption of the Internet banking services. The focus of the research is threefold. First. by testing the hypotheses proposed by the Technology Adoption Model, a well-known theory in the IT-related behavioral science, an analysis was made as to which factors are more important in affecting the attitudes and adoption of the Internet banking on the part of customers. Secondly, an analysis was made as to whether the three criteria of the Technographics- -the attitude toward new technology, level of income, and the motivational factor- -are useful as the criteria for segmenting the Korean users of the online banking. Thirdly, an analysis was made as to whether each customer group segmented by the criteria of the Technographics reveal a differential decision process and thus requires a differential approach strategywise.