• 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.

• 한국섬유공학회:학술대회논문집
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• 한국섬유공학회 2003년도 The Korea-Japan Joint Symposium
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• pp.53-54
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• 2003

Fukusuke applied for beginning "Civil affairs reproduction procedure" on June 21, 2003. It′s bankrupt. After obtaining the data of "Commodity Attribute, Sales, Sates Cost, Stock, Ordinary Profit, And Special Loss" based on the financial statement at the time of the bankruptcy, the influence of the production method improves checking. They are compared with a similar apparel company. The production method is close with the distribution circumstances. As a result, it searches for the limit of "Mass-Sail system" in fiber ＆ fashion product by "Make To Stock(MTS) Production Method".

• Asia pacific journal of information systems
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• 제24권4호
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• pp.559-575
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• 2014

Individual investors are increasingly flocking to message boards to seek, clarify, and exchange information. Businesses like Seekingalpha.com and business magazines like Fortune are evaluating, synthesizing, and reporting the comments made on message boards or blogs. In March of 2012, Yahoo! Finance Message Boards recorded 45 million unique visitors per month followed by AOL Money and Finance (19.8 million), and Google Finance (1.6 million) [McIntyre, 2012]. Previous studies in the finance literature suggest that online communities often provide more accurate information than analyst forecasts [Bagnoli et al., 1999; Clarkson et al., 2006]. Some studies empirically show that the volume of posts in online communities have a positive relationship with market activities (e.g., trading volumes) [Antweiler and Frank, 2004; Bagnoli et al., 1999; Das and Chen, 2007; Tumarkin and Whitelaw, 2001]. The findings indicate that information in online communities does impact investors' investment decisions and trading behaviors. However, research explicating the correlation between information on online communities and stock market activities (e.g., trading volume) is still evolving. Thus, it is important to ask whether a volume of posts on online communities influences trading volumes and whether trading volumes also influence these communities. Online stock message boards offer two different types of information, which can be explained using an economic and a psychological perspective. From a purely economic perspective, one would expect that stock message boards would have a beneficial effect, since they provide timely information at a much lower cost [Bagnoli et al., 1999; Clarkson et al., 2006; Birchler and Butler, 2007]. This indicates that information in stock message boards may provide valuable information investors can use to predict stock market activities and thus may use to make better investment decisions. On the other hand, psychological studies have shown that stock message boards may not necessarily make investors more informed. The related literature argues that confirmation bias causes investors to seek other investors with the same opinions on these stock message boards [Chen and Gu, 2009; Park et al., 2013]. For example, investors may want to share their painful investment experiences with others on stock message boards and are relieved to find they are not alone. In this case, the information on these stock message boards mainly reflects past experience or past information and not valuable and predictable information for market activities. This study thus investigates the two roles of stock message boards-providing valuable information to make future investment decisions or sharing past experiences that reflect mainly investors' painful or boastful stories. If stock message boards do provide valuable information for stock investment decisions, then investors will use this information and thereby influence stock market activities (e.g., trading volume). On the contrary, if investors made investment decisions and visit stock message boards later, they will mainly share their past experiences with others. In this case, past activities in the stock market will influence the stock message boards. These arguments indicate that there is a correlation between information posted on stock message boards and stock market activities. The previous literature has examined the impact of stock sentiments or the number of posts on stock market activities (e.g., trading volume, volatility, stock prices). However, the studies related to stock sentiments found it difficult to obtain significant results. It is not easy to identify useful information among the millions of posts, many of which can be just noise. As a result, the overall sentiments of stock message boards often carry little information for future stock movements [Das and Chen, 2001; Antweiler and Frank, 2004]. This study notes that as a dependent variable, trading volume is more reliable for capturing the effect of stock message board activities. The finance literature argues that trading volume is an indicator of stock price movements [Das et al., 2005; Das and Chen, 2007]. In this regard, this study investigates the correlation between a number of posts (information on stock message boards) and trading volume (stock market activity). We collected about 100,000 messages of 40 companies at KOSPI (Korea Composite Stock Price Index) from Paxnet, the most popular Korean online stock message board. The messages we collected were divided into in-trading and after-trading hours to examine the correlation between the numbers of posts and trading volumes in detail. Also we collected the volume of the stock of the 40 companies. The vector regression analysis and the granger causality test, 3SLS analysis were performed on our panel data sets. We found that the number of posts on online stock message boards is positively related to prior stock trade volume. Also, we found that the impact of the number of posts on stock trading volumes is not statistically significant. Also, we empirically showed the correlation between stock trading volumes and the number of posts on stock message boards. The results of this study contribute to the IS and finance literature in that we identified online stock message board's two roles. Also, this study suggests that stock trading managers should carefully monitor information on stock message boards to understand stock market activities in advance.

• 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.

• 산업경영시스템학회지
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• 제9권14호
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• pp.49-58
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• 1986

Those facts I have studied on the theoretical characteristics of stock price earning ratio related with firm evaluation are as followings. First, I have investigated stock valuation analysis under certainty in view of Miller's, Modigliani's and Linter's theories in Chapter Ⅱ, and it is found that stock valuation under uncertainty to which the basic model of MM theory and the concept of capitalization ratio are applied is the same output, as in the case under certainty. And I have examined the stock valuation of growth corporations in which net investment, total capitals and operating profits are expected. Second, I have reexamined the fact that stock price profits are the erotical indices of firm valuation and the firm valuation on the basis of stock price earning ratio in Chapter III. As a whole, I have surveyed the stock price earning ratio theory of the growth stocks and there have been found some problems as such scholars as Malkiel and others have suggested focusing on the stock price structure of growth stocks. To conclude, there must be incessant efforts for the study of security analysis to make it develop ideally.

• 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.

• 한국식생활문화학회지
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• 제26권4호
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• pp.409-415
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• 2011

The objective of this study was to develop a stock that can be used to make a variety of dishes. For this, stock was prepared with beef, chicken, and pork meat as animal meats as well as anchovy, mushroom, and sea tangle as other ingredients. The qualities of six[only four though] kinds of stocks made with beef only (B), beef and chicken (BC), beef and pork (BP), and beef added with chicken and pork (BCP), and seven kinds of stocks made with anchovy (A), mushroom (M), sea tangle (S), anchovy and mushroom (AM), anchovy and sea tangle (AS), mushroom and sea tangle (MS), and anchovy added with mushroom and sea tangle (AMS) were investigated by sensory evaluation. The most preferred stock made with animal meat was mixed with the most preferred stock made with other ingredients at a 5% level to test the synergistic effects of palatability. As a result, BCP stock and AMS stock obtained the highest scores for overall preference. BCP stock within the range of 30%-65% along with the mixed stock containing AMS (35%-70%) showed synergistic effects for palatability.

• 한국조리학회지
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• 제14권2호
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• pp.115-127
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• 2008

The purpose of this study is to validate the evaluation of stock, which has relation with self-esteem and career for the development of commercial stock. This study conducted a survey of purchasing attitudes & receptiveness in order to hold an accurate course for developing stock. According to the analysis, the results are as follows. It examined the cuisiniers of deluxe hotels who mainly use stock of Seoul and the capital region. A total of 350 samples were distributed and 289 samples were selected for the research. Statistical analysis of collected data executed frequency, percentage, average, reliability analysis, factor analysis using SPSSWIN 12.0 PC package programs. Making stock, cooking skills, cooking methods, quality of food ingredients and cooking recipes are important. Also, sensory characteristics such as color, odor, and taste should be considered. Career and self-esteem act on the purchase accommodation attitude of commercial stock. Commercial stock products more than 1,000 mL or 2,000 mL of liquid styles need packing of vacuum pack(vinyl). Based on the result of this study, we will make efficient use of research data for the development of commercial stock products and we will be able to improve conservation of taste with good quality by making by hand through standardization and mass production of traditional culinary skills.

• 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.