• Asia-Pacific Journal of Business
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• v.13 no.4
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• pp.163-175
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• 2022

Purpose - This study introduces a methodology for finding the optimal tracking error of active stock funds. Tracking error is commonly used in risk budgeting techniques as a concept of cost for alpha creation. Design/methodology/approach - This study uses a post-optimal smart beta portfolio that maximizes alpha under the given tracking error constraint. Findings - As a result of the analysis, the smart beta strategy that maximized alpha under the constraint of 0.15% daily tracking error shows the highest IR. This means the maximum theoretically achievable efficiency. In this regard, a fixed-effect panel regression analysis is conducted to evaluate the active efficiency of domestic stock funds. In addition to control variables based on previous studies, the effect of tracking error on alpha is analyzed. The alpha used in this model is calculated using the smart beta portfolio according to the size of the constraint of the tracking error as a benchmark. Contrary to theoretical estimates, in Korea, the alpha performance is maximized under a daily tracking error of 0.1%. This indicates that the active efficiency of domestic equity funds is lower than the theoretical maximum. Research implications or Originality - Based on this study, it is expected that it can be used for active risk management of pension funds and performance evaluation of active strategies.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.19 no.2
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• pp.405-412
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• 2018

The budget is an essential tool for the systematic management of the organizational performance and for diagnosing the status of an organization. Effective budget execution is important to hospital management due to the nonprofit nature of hospitals. On the other hand, there are few studies regarding the budgetary slack of hospitals in Korea. The purpose of this study was to investigate the effects of the university hospital budgeting system characteristics on the budgetary slack. For this purpose, the data from 118 staff of a university hospital located in Seoul were collected by self-administered surveys. Frequency analysis, correlation analysis, and multiple regression analysis were carried out using Stata Ver. 14. The main results of this study were as follows. First, information asymmetry has a positive influence on the budgetary slack. Second, budget feedback and budget motivation have a negative effect on the budgetary slack. These findings suggest that the sharing of budget-related information among hospital staff is important for efficient hospital management. In addition, it is necessary to establish ways to enhance the feedback and motivation in budgetary activities for managing the budgetary slack systematically. The major strength of this study is that it draws attention to research concerning the budgetary slack of hospitals in the absence of research on the budgetary slack. The significance of this study was to provide an empirical basis for improving the efficiency of hospital management.

• Asia-pacific Journal of Multimedia Services Convergent with Art, Humanities, and Sociology
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• v.7 no.6
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• pp.701-708
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• 2017

The construction cost is estimated based on the drawings at the design stage and constructor will find efficient construction methods for budgeting and budgeting appropriate to the budget. Accurate quantity estimation and budgeting are critical to determining whether the project is profitable or not. However, since this process is mostly performed depending on manpower or 2D drawings, errors are likely to occur and The BIM(Build Information Modeling) program, which can be automated, is very expensive and difficult to apply in the field. In this study, 3D architectural modeling was performed using SketchUp which is a 3D modeling software and suggest a methodology for Quantity Estimation. As a result, 3D modeling was performed effectively using 2D drawings of buildings. Based on the modeling results, it was possible to calculate the difference of the quantity estimation by 2D drawing and 3D modeling. The research suggests that the 3D modeling using the SketchUp and the calculation of the quantity can prevent the error of the conventional 2D calculation method. If the applicability of the research method is verified through continuous research, it will contribute to increase the efficiency of architectural modeling and quantity Estimation work.

• Journal of Information Technology Services
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• v.8 no.3
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• pp.101-109
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• 2009

For half a century, PMM(Project Management Model) continually has been advanced by many researchers and managers. Especially, the model for civil and construct engineering has now high maturity, but the model for IT engineering has not acceptable maturity. PMI(Project Management Institute) provides the knowledge of protect management for general purpose, it is not adequate for IT prefect management without complements. In this paper, we propose IT project management model based the knowledge of PMI using UML. IT project management model provides not only functions for project planning, budgeting, design and Implement, but also the knowledge for managing IT protect efficiently. We use uses case diagrams to describe the details of the model. We expect the model to be used in management of IT project efficiently in public sector.

• Journal of Convergence for Information Technology
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• v.10 no.9
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• pp.8-14
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• 2020

The objective of this research is to investigate how implementation of smart factory systems(SFS) effects management accounting(MA). The results based on data collected from 108 Korea small and medium enterprises(SME) confirmed that SFS implementation caused significant MA changes. Estimated regression models revealed that the most important SFS characteristic were the analytical capabilities since it positively influenced MA changes in four dimensions: internal reporting, budgeting, application of modern accounting techniques and MA employee's job. In the segment of budgeting, the quality of implementation of specialized bedgeting software had significant and positive influence. The only negative correlation founded was the one between the uncertainty of business environment and adoption of modern accounting techniques. Results from this study provide that SME should put special focus on implementation of business analytics modules in order to achieve comprehensive benefits in MA prctices.

• 한국IT서비스학회:학술대회논문집
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• 2003.11a
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• pp.550-557
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• 2003

최근 정보보호의 중요성에 대한 인식이 확산되고 있음에도 불구하고 정보보호에 관한 적절한 투자가 이루어지지 못하고 있다. 이는 전 세계적인 경제 불황이라는 원인도 있겠지만, 정보보호 예산 편성에 대찬 제도적 장치 및 절차가 미흡하여 정보보호에 대한 요구사항이 적절하게 반영되지 못하는 구조적인 문제를 가지고 있다. 미 정부에서는 정보보호 예산편성을 체계적으로 수립하도록 여러 법규와 지침이 작성되어 현재 수행 중에 있는 반면, 국내에서는 예산편성지침에 정보보호 관련 예산편성에 대한 지시는 있으나 구체적인 방법 제시나 지침이 존재하지 않고 있다. 본 연구에서는 미국의 전자정부의 출범에 따른 정보기술 예산 편성과 관련된 미 연방정부정보보호관리법(FISMA) 및 관련 법규를 검토하고 자본계획 및 투자통제프로세스를 통한 정보보호 예산 편성 과정을 분석하고자 한다. 또한 국내 정부의 예산편성 과정을 미국의 경우와 비교 분석함으로써 보다 효과적인 정보보호 예산 반영을 위한 제도적 방안 및 지침 수립을 위한 시사점을 제공하고자 한다.

• Korean Management Science Review
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• v.9 no.1
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• pp.53-65
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• 1992

Decision Support System(DSS) is an advanced information system concept prevailing since 1980s. It supports managers' decision making activities by providing not only information but decision alternatives. It essentially consists of the components of database, modelbase and dialogue systems. With the development of its databases, POSCO needs a number of modelbases in establishing DSSs in various areas such as production planning and investment. This research particularly focuses on establishment of a mid-and long-range investment DSS and investigates the necessity and the problems of an investment DSS and the decision criteria for investment priority. We (1) propose a modelbase which uses the concepts of Analytic Hierarchy Process(AHP) and Zero-Base Budgeting(ZBB), along with an appropriate scoring method, database and dialogue system to support the investment manager in evaluating investment proposals ; (2) implement the system using relational database management system ; and (3) discuss the results of implementing the investment DSS.

• Proceedings of the Technology Innovation Conference
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• 2006.02a
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• pp.187-204
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• 2006

According to increasing dependancy of national competitiveness on her level of science and technology, the Korean Government devote herself to expansion of technological capability in nation-wide. As a result, the numbers and sizes of national R&D programs, one of public technology policies, are abruptly increased. Recently, the government closely examines the introduction of performance-based budgeting regime as well as the accountability issue in public sector. In the fulfillment of accountability, it has considerable importance that the government executes measurement and strategic management of their performances of all the national R&D programs, how they are properly executed in conformity with respective missions and characteristics. It needs a tool for clearly measuring the programs' performances. In this study, the Balanced Scorecard (BSC) is suggested as an alternative. However, the logics of ordinary BSC cannot be directly applied to the program unit. This study reviews the basic concept and principles of BSC and discusses the necessary conditions for proper application of BSC into national R&D programs.

• Journal of Families and Better Life
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• v.4 no.2
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• pp.67-88
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• 1986

This study attempts to explain the income and consumption problems of urban low-income consumers and to explore factors of their poverty. For the purpose of this study, interviews were conducted with 124 low-income home managers. All the subjects live in Seoul and Inchon. The major findings are: First, low-income families seriously suffer from low income and small property. And the degree of economic hardship is the most serious with wife-working families whose husbands have no job or are dead. Second, low-income consumers have low budgeting and purchasing skill. Third, low-income consumers have 'doing' orientation but have fatalistic value orientation. This study suggests that it is necessary to develop an integrative measurement of economic hardship. It also suggests that low level of low-income consumer's skill can be well explained in terms of man-nature value orientation.

• Journal of Information Technology and Architecture
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• v.11 no.2
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• pp.235-247
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• 2014

The National IT Plan is formulated every 5 years in Korea. Each ministry formulates its own annual IT plans and budgets based on the National IT Plan. Presidential agenda, in addition to the Ministry plan usually come in the budgetary process. A budget view and an IT view are not always aligned consistently in the budgetary process. For more consensus and less conflict between the finance ministry and the IT ministry, it would be useful to have a common framework to examine and review the many IT plans submitted by many ministries. We offer an EA-based framework that considers various views and classifications on IT plans. This framework would make the National IT Planning more efficient and effective.