• Knowledge Management Research
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• v.18 no.1
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• pp.49-65
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• 2017

Financial products entail either gains or losses, and customers' psychological reaction to these gains and losses affect the selection of the financial products. This study explains the financial customers' behavior by introducing consumers' psychological variables such as loss aversion and construal levels. According to the construal level theory, people use more abstract and higher levels of construal to represent objects that are more distant on psychological distance. Based on extant research about loss aversion and construal levels, this study proposes two hypotheses and test the hypotheses. The experimental study examines how loss aversion affects the choice between deposit products and fund products in short-term and long-term investment situations. In the long-term condition the respondents prefer fund products to deposit products, whereas in the short-term condition the respondents have showed the opposite result. Also, the effects of loss aversion on preferences for financial products have interacted with the time horizon of investments. Implications and limitations are discussed to establish more effective marketing strategies based on the results of this study.

• Korean System Dynamics Review
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• v.3 no.2
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• pp.113-140
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• 2002

The cost-benefit analysis is a technique for assisting with decision about the use of society's scare resources. There exists no detailed assessment like cost-benefit analysis. But recently, many policy analysts criticized the merit of cost-benefit analysis. As it is, it can be said that partial or approximate estimates of benefit and cost may be more dangerous than helpful. The purpose of this study is to overcome the limit of traditional cost-benefit analysis. For this purpose, we use the system dynamics approach for setting up new cost-benefit analysis, which we named that ‘Dynamics Cost-Benefit Analysis'. The usefulness of ‘Dynamics Cost-Benefit Analysis' is as follows; finding structural causal relationship between cost factors and benefit factors, understanding the long-term behavior of systems economic feasibility. In this study, we apply 'Dynamic Cost-Benefit Analysis' to case that is construction investment of funeral house by local government sector.

• Environmental and Resource Economics Review
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• v.11 no.4
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• pp.633-657
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• 2002

This study presents a demand modelling for landfill gas, which is used as alternative energy source for district cooling business. By analyzing the cost minimizing behavior of producer facing with three alternative energy sources such as electricity, cooling heat water, and gas, a demand function for landfill gas is derived from the optimal operating time of gas fired production facility, and estimated using unpublished data, which are associated with Seoul city's development plan for Sang-am area. The estimation results repeals that Seoul City could supply the land-fill gas of 13.76 million cubic meters each year at the price of about 16 won per cubic meters. However, if the investment costs associated with installation of gas collecting facilities are treated as sunk costs, annual amount of gas supplied is expected to increase to 14.22 million cubic meters at a lower unit price of 14.76 won.

• The Korean Journal of Financial Management
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• v.16 no.2
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• pp.157-178
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• 1999

본 연구는 B/M, E/P, C/P, S/P 등이 높은 주식(가치주)을 매입하는 전락, 즉 역행투자전략 또는 가치전략의 투자성과가 B/M, E/P, C/P, S/P 등이 낮은 주식(성장주)을 매입하는 전략, 즉 성장전략의 투자성과보다 높게 나타나는지를 확인하고 그 원인을 살펴보았다. 실증분석결과에 의하면 가치주에 투자하는 역행투자전략의 투자성과는 지속적으로 크게 나타나며, 통계적으로도 유의한 것으로 나타났다. 한편, 가치주의 위험도는 성장주에 비해 상대적으로 높게 나타나고 있으나, 그 위험차이에 의해 높은 수익률차이를 설명할 수 없는 것으로 보인다. 결론적으로 가치주를 매입하는 전략, 즉 역행투자전략에 의해서 높은 투자성과를 얻을 수 있으며, 이는 위험보다는 투자자들의 비합리적인 부분최적화 행동(suboptimal behavior)에 기인한 것으로 판단된다.

• Journal of Korean Institute of Industrial Engineers
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• v.14 no.2
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• pp.131-141
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• 1988

As flexible manufacturing technology has become available across a broad range of applications, an increasingly large number of firms have confronted decisions about when to adopt the FMS technology and the size of FMS at that time. For small to medium size firms that should invest under budget limitation and high investment risk, proper size of FMS adoption at proper time is very important. In this paper the discrete optimal control theory has been used to make decisions about the size and timing of FMS capacity expansion over a planning period. Sensitivity analysis is presented for analysing the behavior of the model to variations of model parameters.

• Journal of Technology Innovation
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• v.2 no.1
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• pp.219-241
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• 1994

This paper presents the results of an empirical study on the relationship between the type of new product idea sources and the rate of success of new product development and commercialization in Korean industries. The sample was taken from various Korean industries including telecommunication, electronics, chemical, machinery, textile, etc. and composed of 45 failure and 73 success cases. The findings are not much different from those of previous studies done in the developed countries, but show some typical characteristics of new product development activities and the idea sources, information acquisition methods, type of information , incentives for idea generation, etc. of the firms in developing country like Korea. Especially the survival rate curve and the accumulative investment curve from the idea generation to commercialization phase show a little different behavior from the previous study, which also reflect the manpower, duration of each phase of the new product development process in the Korean firms.

• Journal of Preventive Medicine and Public Health
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• v.46 no.sup1
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• pp.35-42
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• 2013

A commitment to physical activity is necessary for personal health, and is a primary goal of physical activity practitioners. Effective practitioners rely on theory and research as a guide to best practices. Thus, sound theory, which is both practical and parsimonious, is a key to effective practice. The purpose of this paper is to review the literature in search of such a theory - one that applies to and explains commitment to physical activity in the form of sport and exercise for youths and adults. The Sport Commitment Model has been commonly used to study commitment to sport and has more recently been applied to the exercise context. In this paper, research using the Sport Commitment Model is reviewed relative to its utility in both the sport and exercise contexts. Through this process, the relevance of the Investment Model for study of physical activity commitment emerged, and a more parsimonious framework for studying of commitment to physical activity is suggested. Lastly, links between the models of commitment and individuals' participation motives in physical activity are suggested and practical implications forwarded.

• International Journal of Internet, Broadcasting and Communication
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• v.13 no.2
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• pp.36-42
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• 2021

This study aims to examine whether there are some differences in the cost stickiness of R&D expenses of IT companies before and after the COVID-19 crisis. Before COVID-19, IT companies did not reduce R&D expenses even if sales decreased, resulting in cost stickiness. As a result, it appears that during the COVID-19, IT companies adjust R&D expenses in proportion to changes in sales. This is interpreted as a reduction in R&D investment, which takes a long time to create results, in case of a decrease in sales due to uncertainty in future management performance due to the COVID-19 pandemic. In other words, during the COVID-19 risk period, IT companies, like other companies, reduced R&D expenses as sales decreased, resulting in reduced cost stickiness. This study differs from existing literature in that it examines the impact of the COVID-19 pandemic on the R&D expenditure behavior of companies in the IT industry.

• Journal of the Korean Data Analysis Society
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• v.20 no.6
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• pp.2771-2779
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• 2018

The recent financial crises cause the co-movement and transmit the risk across different markets and assets. It is well known that market fear affects the quality of credit in the financial markets. In this context, this study examines the co-movement between the volatility index (VIX) of the Chicago Board Options Exchange (CBOE), or VIX, and six emerging countries' credit default swaps (CDSs), by implementing wavelet coherence. Our research aims at revealing whether the VIX can be used to hedge against the bubble behavior of the CDS market in different investment holding periods (short-run, medium-run, and long-run), as well as whether either market can be used to manage and hedge overall market downside risks. The wavelet coherence results show a high degree of co-movement between the VIX and CDS during the 2007-2009 global financial crisis, across the 16-64 weeks' frequency band. In addition, we observe that the positive correlation between the VIX and the CDS markets, implying that the market turmoil intensifies the co-movement between the VIX and CDS markets.

• KSII Transactions on Internet and Information Systems (TIIS)
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• v.16 no.1
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• pp.305-318
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• 2022

Abusive behaviors have become a common issue in many online social media platforms. Profanity is common form of abusive behavior in online. Social media platforms operate the filtering system using popular profanity words lists, but this method has drawbacks that it can be bypassed using an altered form and it can detect normal sentences as profanity. Especially in Korean language, the syllable is composed of graphemes and words are composed of multiple syllables, it can be decomposed into graphemes without impairing the transmission of meaning, and the form of a profane word can be seen as a different meaning in a sentence. This work focuses on the problem of filtering system mis-detecting normal phrases with profane phrases. For that, we proposed the deep learning-based framework including grapheme and syllable separation-based word embedding and appropriate CNN structure. The proposed model was evaluated on the chatting contents from the one of the famous online games in South Korea and generated 90.4% accuracy.