• 한국경영과학회지
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• 제35권1호
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• pp.83-95
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• 2010

This paper considers a firm that operates make-to-stock and make-to-order facilities in successive stages. The make-to-stock facility produces components which are consumed by the external market demand as well as the internal make-to-order operation. The make-to-order facility processes customer orders with the option of acceptance or rejection. In this paper, we address the problem of coordinating how to allocate the capacity of the make-to-stock facility to internal and external demands and how to control incoming customer orders at the make-to-order facility so as to maximize the firm's profit subject to the system costs. To deal with this issue, we formulate the problem as a Markov decision process and characterize the structure of the optimal inventory allocation and customer order control. In a numerical experiment, we compare the performance of the optimal policy to the heuristic with static inventory allocation and admission control under different operating conditions of the system.

• 디지털융복합연구
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• 제7권4호
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• pp.11-19
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• 2009

Electronic methods are already used in money transfer and credit cards transactions and electronic money and checks, which can substitute cash and coins, are being discussed. Recently, the Acts of Electronic Draft have been enacted, in order to make the money in the market flow efficiently. Also electronic bill of lading has been adopted for the practical use of international shipments. However, despite of the effort from the academia and practice, investments to stocks, especially in the stock exchange, is not quite perfectly electronic. Japan enacted a relevant act in 2004 which make its stock market totally dematerialized. This writing summarizes some issues in interpretation that arise in the course of operation of the Stock Electronic Registration System at the present time of 6 months after it came into effect and its purpose, by doing so, is to prevent in advance the kind of problems in introducing the similar system to Korea.

• 대한산업공학회지
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• 제41권5호
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• pp.447-452
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• 2015

This paper considers a two-stage make-to-stock production system. The first stage produces a single-component and the second stage produces a make-to-stock product using components. In addition to internal demands, the first stage faces external demands with the option of accepting or rejecting. To ration component inventory, the manufacturer adopts a static rule. This paper analyzes the production controls at both facilities that maximizes the manufacturer's profit. Using the Markov decision process model, we characterize the optimal production policy by two monotonic switching curves.

• 대한산업공학회지
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• 제38권2호
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• pp.89-97
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• 2012

This paper considers a manufacturer with a two-station make-to-stock and make-to-order serial production system. The MTS facility produces a single type of component and provides components for the MTO facility that produces customized products. In addition to the internal demand from the MTO facility, the MTS facility faces demands from the spot market with the option of to accept or reject each incoming demand. This paper addresses a joint component inventory rationing and batch production control which maximizes the manufacturer's profit. Using the Markov decision process model, we investigate the structural properties of the optimal inventory rationing and batch production policy, and present two types of heuristics. We implement a numerical experiment to compare the performance of the optimal and heuristic policies and a simulation study to examine the impact of the stochastic process variability on the inventory rationing and batch production control.

• The Journal of Asian Finance, Economics and Business
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• 제7권10호
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• pp.629-639
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• 2020

The current study explains how corruption, terrorism, political stability and oil price has an effect on on the Iraq stock exchange utilizing corruption perception index as a proxy of corruption, global terrorism index as proxy for terrorism, political stability and oil price with ISX60 index as proxy of stock market for the period (2005-2019) using Ordinary Least Square method. The results show that the level of corruption, terrorism activities and political stability coefficient is significantly positive with Iraq stock exchange. In contrast, the oil price coefficient is significantly negative with Iraq stock exchange, which means that lower levels of corruption, less terrorism activities and more stability in political system have strong influence on stock market development in Iraq. The study concludes that the explanatory variables are important for Iraq stock exchange. Hence, the study suggests the policy makers to develop stock market by implementing policies and strategies to overcome high level of corruption, terrorism activities especially after ISIS/ISIL announcement has been made public. There is a need for transparency and creating stable political environment through good governance practices in order to attract more foreign investment and promote economic development. Factors like terrorism and corruption make economic and political systems unstable and has an adverse effect on on Iraq's stock exchange performance.

• 산업공학
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• 제22권4호
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• pp.368-375
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• 2009

This paper considers a two-stage supply system consisting of two make-to-stock facilities. The facility in the first stage produces a single type of component in anticipation of future demands from the market and the end item production while the facility in the second stage produces the end item in anticipation of future demands from the OEM customers. The facility in the first stage has the option of to accept or reject each incoming demand from the market. In this paper, we address the problem of how to control the exogenous component demand and how to manage the production of the end item and the component so as to maximize the system's profit subject to the system costs. In this paper, we present a heuristic policy that is the base-stock production policy combined with a linear switching curve for component demand control. Numerical study is implemented under different operating conditions of the system and it shows that the performance of the heuristic is very promising compared to that of the optimal policy for the Markov model.

• 한국콘텐츠학회논문지
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• 제12권2호
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• pp.472-482
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• 2012

주식시장에는 많은 투자자들이 참여하고 있으며 점점 더 많은 사람이 주식투자에 관심을 가지고 있다. 주식시장에서 위험을 회피하고 수익을 얻기 위해서는 다양한 정보를 바탕으로 정확한 의사결정을 해야한다. 즉 수익을 얻을 수 있는 종목 선택, 적절한 매수-매도 가격의 결정, 그리고 적절한 보유기간 등을 결정해야 한다. 본 논문에서는 개인 주식 투자자의 의사결정 지원을 위한 데이터마이닝 도구를 제안한다. 즉, 개인 투자자가 직접 기계학습 방법을 적용하여 주가예측 모델을 생성할 수 있게 하고, 적절한 매수-매도 가격과 보유기간 등을 결정하는 것을 도와주는 도구를 제안한다. 제안하는 도구는 과거 데이터를 이용하여 투자자 자신의 성향에 맞는 투자에서의 의사결정을 할 수 있도록 지원하는 도구로서 주가데이터 관리, 기계학습 적용을 통한 주가예측 모델 생성, 투자 시뮬레이션 등의 기능을 제공한다. 사용자는 스스로 주가에 영향을 미칠 수 있다고 판단하는 기술적 지표를 선정하고 이를 이용하여 주가예측 모델을 만들고 테스트 할 수 있으며, 적절한 예측모델을 적용하여 시뮬레이션을 수행해 봄으로써 실제로 어느 정도 수익을 얻을 수 있는지 평가하고 적절한 매매 정책을 수립할 수 있다. 제안하는 도구를 이용하여 주식 투자자는 기존의 감정적 판단에 의한 투자가 아닌 객관적 데이터에 의해 검증을 거친 주가예측 모델과 매매정책에 따라 주식투자를 할 수 있어 이전 보다 나은 수익을 기대할 수 있다.

• 제어로봇시스템학회:학술대회논문집
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• 제어로봇시스템학회 2004년도 ICCAS
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• pp.722-725
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• 2004

In most manufacturing systems, all customers are expected to take deliveries from inventory. However, in some situations, management may keep inventory only for some customers and not keep inventory for the others. The reason is that they would like to make as much benefit as possible from the first group of customers and this may help sell these customers on further products. This paper attempts to determine the cutoff between the group of customers who are given products immediately when their orders come and other customers who will be served but have to wait for the production of their products. The optimum set of customers to be served immediately and the optimum set of customers who have to wait for the production are found using linear programming to optimize perceived manufacturer benefits measured as the product of the benefit factor and the corresponding profit per customer. The results indicate that it is not necessarily wise to keep inventory for all customers.

• 아태비즈니스연구
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• 제14권4호
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• pp.255-273
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• 2023

Purpose - This study examines whether internal control has an effect on stock price informativeness about future earnings. High quality internal control provides continuous assurance for the quality of financial reports, and these future earnings-related information is accurately reflected in the current stock price. Design/methodology/approach - This study collected 12,862 data from 2006 to 2021 in China to make an empirical analysis using the future earnings response coefficient (FERC) and the multiple regression analysis were hired in order to analyze the data. Findings - We find that internal control strengthens the association between current returns and future earnings, indicating that more information about future earnings is reflected in current stock prices. This positive effect exists in both the main board market and the growth enterprise market of China's stock market, especially in the main board market after the implementation of the internal control policy. In addition, we find that the positive effect is weaker for firms that report internal control deficiencies or receives non unqualified internal control audit opinions. The results using earnings persistence yield similar findings, further supporting the results based on the FERC model. Research Implications or Originality - Our tests provide strong evidence that the quality of internal control affects FERC in China stock market.

• 유통과학연구
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• 제20권9호
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• pp.23-28
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• 2022

Purpose: Research on banking sustainability plays an important role in helping banks understand the level of risk in different types of companies. Therefore, this study was conducted to determine the factors affecting the sustainability of Joint Stock Commercia l Banks in Vietnam. Research design, data and methodology: The following theories, the factors affecting the bank's sustainability include: Business model diversification (income diversification), bank size, loan ratio, and net interest margin. Data was collected from Joint Stock Commercial banks in Vietnam from 2015 to 2019. With GLS model on panel data with banks listed on Vietnam stock exchange. Results: The analysis results show that net interest income has a positive impact on the sustainable business results of banks through the rate of return on total assets (ROA). The non-interest income hasn't impact on bank stability. From this result, there aren't positive signs of income diversification in banks. At the same time, with the obtained results, the study also provides a policy implication for banks. Conclusions: The study also provides some policy implications to improve the bank stability. Diversifying income in banks is necessary, but how to make it influential banks has not yet been done. Therefore, the adjustments in non-interest business activities need to be carefully considered by banks.