• 수산경영론집
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• 제44권2호
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• pp.101-109
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• 2013

This study is aimed to analyze investment effects of fisheries R&D projects of the National Fisheries Research and Development Institute(NFRDI). In the analysis, Granger causal relations between R&D investment and fisheries production are tested. In addition, time-lag effects of fisheries R&D investment are estimated with an impulse response analysis and investment effects of R&D projects are estimated by changes of social surplus. Results indicate that there exists an Granger-causality between R&D investment and fisheries production and fisheries production responds to the fisheries R&D shock about three years after the initial shock. The magnitudes of the impacts increase until a peak is reached 5~7 years and the impacts decline to zero after 25 years. As investment effects, it is shown that the internal rate of returns of fisheries R&D investment is 55.2%.

• 조명전기설비학회논문지
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• 제23권9호
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• pp.31-39
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• 2009

본 논문에서는 경제성 평가를 기반으로 하는 배전 설비투자 우선순위를 결정하기 위하여 배전계통 구성, 설비 및 부하정보를 이용하여 배전계통을 모델링 하고, 현 계통의 신뢰도를 개선하기 위한 방향으로 설비투자 대안들을 설계한 다음, 이 대안들을 대상으로 신뢰도 및 경제성을 평가하는 모델을 제시하였다. 이러한 투자대안들의 신뢰도 영향과 경제성을 분석하기 위하여 한전의 주요 배전설비(15종)의 신도율(시변고장율)과 설비투자시 영향을 받는 고객들의 정전비용을 적용하여 경제적 효과를 산출하였으며, 이러한 투자 방법론의 유효성을 검증하기 위하여 한전의 배전사업소 실제 투자안을 대상으로 하여 경제성 평가를 수행한 결과와 비교분석하였다.

• 한국산학기술학회논문지
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• 제20권6호
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• pp.55-62
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• 2019

본 연구는 사회책임투자 기업의 감사품질(audit quality)을 검증하였다. 연구표본은 2014년부터 2016년 한국증권거래소 상장 12월 결산법인 비금융업 기업 1,497 기업-연도이다. 검증결과, 사회책임투자 수준이 높은 기업이 그렇지 않은 기업에 비해 대체로 감사품질이 높은 것으로 나타났다. 구체적으로는 사회책임투자 수준이 높은 기업이 그렇지 않은 기업에 비해 상대적으로 감사보수 및 감사시간이 높고 대형회계법인을 감사법인으로 선택하는 경향이 높아 감사품질 수준이 높은 것으로 나타났다. 따라서 본 연구결과에 따르면 사회책임투자 수준이 높은 기업일수록 상대적으로 신뢰성 높은 회계정보를 갖추고 있는 것으로 기대할 수 있다. 본 연구는 사회책임투자기업의 회계정보의 신뢰성을 검증함으로써, 사회책임투자 기업의 긍정적인 이미지 제고에 기여함으로써 건전한 자본시장의 발전에 도움이 될 것으로 기대된다.

• 산업경영시스템학회지
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• 제46권1호
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• pp.105-111
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• 2023

Recently, research on prediction algorithms using deep learning has been actively conducted. In addition, algorithmic trading (auto-trading) based on predictive power of artificial intelligence is also becoming one of the main investment methods in stock trading field, building its own history. Since the possibility of human error is blocked at source and traded mechanically according to the conditions, it is likely to be more profitable than humans in the long run. In particular, for the virtual currency market at least for now, unlike stocks, it is not possible to evaluate the intrinsic value of each cryptocurrencies. So it is far effective to approach them with technical analysis and cryptocurrency market might be the field that the performance of algorithmic trading can be maximized. Currently, the most commonly used artificial intelligence method for financial time series data analysis and forecasting is Long short-term memory(LSTM). However, even t4he LSTM also has deficiencies which constrain its widespread use. Therefore, many improvements are needed in the design of forecasting and investment algorithms in order to increase its utilization in actual investment situations. Meanwhile, Prophet, an artificial intelligence algorithm developed by Facebook (META) in 2017, is used to predict stock and cryptocurrency prices with high prediction accuracy. In particular, it is evaluated that Prophet predicts the price of virtual currencies better than that of stocks. In this study, we aim to show Prophet's virtual currency price prediction accuracy is higher than existing deep learning-based time series prediction method. In addition, we execute mock investment with Prophet predicted value. Evaluating the final value at the end of the investment, most of tested coins exceeded the initial investment recording a positive profit. In future research, we continue to test other coins to determine whether there is a significant difference in the predictive power by coin and therefore can establish investment strategies.

• Journal of Information Technology Applications and Management
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• 제16권4호
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• pp.205-222
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• 2009

Considering time-lag in the performance evaluation of information system (IS) investment is important because its effect reveals after certain period of time passed. Particularly it is more in the systems of e-government informatization projects which the amount of investment and the scale of business are huge. Many methods to solve this issue have been proposed such as system dynamics methods, simulations, structural equations etc. However, it is still difficult and unsolved problem because collecting practical data for time-lag analysis is very hard. In this paper, we analyze IS time-lag effect through factor analysis using the accumulated practical operational DB data. For the performance evaluation of the G4C system, the representative e-government web portal, we selected eleven factors reflecting time passing in G4C DB data. With these factors this paper conduct time-lag analysis in four view points. First, we conducted 'Stabilizing of G4C system' and got a result that IS is needed about three years for the stabilization. Second, we conducted 'Utilization of G4C system' and got a result that the utilization reaches appropriate level after in three years later after the introduction of G4C system. Third, we conducted 'Cost reduction effect' and got a result that cost reduction is stable in the third year after the introduction of G4C system. Lastly, we conducted 'System maturity effect' and got a result that the system reaches to the quality level that users expect after third to fourth years. According to the results of this research, we found that performance of IS improv continuously not immediately, and it needs three or four years of time-lag.

• 한국IT서비스학회지
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• 제11권3호
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• pp.89-101
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• 2012

The study investigated if IT investment in Korean financial markets for the past 18 years has grown following the s-curve pattern based on Nolan's growth model in order to find the correlation between IT investment and management performance in the financial industry. According to the research finding it can be said that the overall financial markets maintain s-curve pattern, and IT investment is related to management performance, particularly increase in total assets and net profit. However, each sector has defining features of growth patterns. The banking industry has grown similarly to the s-curve, and the insurance industry also shows the s-curve but it looks more like linear pattern. In terms of securities industry, its growth patterns can hardly be considered s-curve due to the irregular changes. his research outcome illustrates the analysis of IT growth patterns in the financial industry and thus, it is expected to be a useful reference when deciding the appropriate time for IT investment in the financial industry.

• 한국기술혁신학회:학술대회논문집
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• 한국기술혁신학회 2001년도 춘계학술대회:발표자료
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• pp.141-158
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• 2001

This paper examines the causality issue between telecommunications investment and economic growth for South Korea by applying recently developed time series techniques. Tests for unit roots, co-integration, and Granger causality are presented. The results show that hi-directional causality runs from telecommunications investment to economic growth for South Korea. This means that increased telecommunications investment directly affects economic growth and an increase in real income also influences telecommunications investment. The study also discusses the implications of the results for addressing telecommunications policy in South Korea.

• 산업경영시스템학회지
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• 제46권4호
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• pp.152-159
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• 2023

This study endeavors to enrich investment prospects in cryptocurrency by establishing a rationale for investment decisions. The primary objective involves evaluating the predictability of four prominent cryptocurrencies - Bitcoin, Ethereum, Litecoin, and EOS - and scrutinizing the efficacy of trading strategies developed based on the prediction model. To identify the most effective prediction model for each cryptocurrency annually, we employed three methodologies - AutoRegressive Integrated Moving Average (ARIMA), Long Short-Term Memory (LSTM), and Prophet - representing traditional statistics and artificial intelligence. These methods were applied across diverse periods and time intervals. The result suggested that Prophet trained on the previous 28 days' price history at 15-minute intervals generally yielded the highest performance. The results were validated through a random selection of 100 days (20 target dates per year) spanning from January 1st, 2018, to December 31st, 2022. The trading strategies were formulated based on the optimal-performing prediction model, grounded in the simple principle of assigning greater weight to more predictable assets. When the forecasting model indicates an upward trend, it is recommended to acquire the cryptocurrency with the investment amount determined by its performance. Experimental results consistently demonstrated that the proposed trading strategy yields higher returns compared to an equal portfolio employing a buy-and-hold strategy. The cryptocurrency trading model introduced in this paper carries two significant implications. Firstly, it facilitates the evolution of cryptocurrencies from speculative assets to investment instruments. Secondly, it plays a crucial role in advancing deep learning-based investment strategies by providing sound evidence for portfolio allocation. This addresses the black box issue, a notable weakness in deep learning, offering increased transparency to the model.

• 수산경영론집
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• 제39권1호
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• pp.133-162
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• 2008

In 1970, direct overseas investment in Korean fisheries started to sell the frozen marine products to Singapore with establishing local subsidiary. Direct overseas investment in China has carried out since Korea and China established diplomat relationship in 1992. the former day, The Korea invested indirectly in China via Hong Kong. It has reported that 253 local subsidiaries applied to China government permit at the end of 2004. The results will make a decision on whether to invest continuously. The results of actual proof analysis has announced that a successful investment of fishery company is mainly influenced in its own government policy. Many advantages of tax and administration for foreign company in China have been changed and vanished comparing to the beginning time of entering china. So. it is imperative for Korean government to take measures to changing policy of Chinese government. The early days, investment of fishery company is type of resources and abundant resources will affect succeeding investment. Nowadays, the type of the investment is the production oriented investment. And then many direct investment linked the production oriented investment have been conducted in many area in China. So. the production oriented investment will affect logistics and successful investment in China. And, The factor of Market potential in Market Factors in the middle of changing market oriented investment will conclude whether to invest. As the china exchange system changed from the fixed exchange system to the fluctuating exchange system. Risk of exchange rate will affect corporate's parent business. The local risk (regulation of import and export, remittance) will affect succeeding investment of corporate's parent.

• 기술혁신연구
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• 제31권2호
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• pp.59-82
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• 2023

본 논문에서는 우리나라 경제성장과 연구수행 주체별 공공 연구개발투자, 기업연구개발투자, 대학 연구개발 투자 간의 장·단기 인과관계를 실증 분석하였다. 이를 위해 1976년부터 2020년 동안의 시계열 자료를 바탕으로 단위근 검정, 공적분 검정, 백터오차수정모형(VECM)을 통한 인과성 검정을 실시하였다. 분석결과, 우리나라 경제성장과 공공 연구개발투자, 기업 연구개발투자, 대학 연구개발투자 간에는 장기적으로 인과관계가 존재하는 장기균형관계가 있다는 것을 도출하였다. 그러나, 공공 연구개발투자가 경제성장에 단기적으로 영향을 미치는 데에 비해 기업 및 대학 연구개발투자는 경제성장에 단기적으로 영향을 미치지 않는 것으로 나타났다. 더불어, 경제성장 및 공공 연구개발투자, 기업 연구개발투자와 공공연구개발투자, 대학 연구개발투자와 공공 연구개발투자 간에 단기적으로 양방향의 인과관계가 있는 것으로 도출되었다. 마지막으로 단기적으로 공공 연구개발에 인과관계가 있는 것은 GDP 경제성장이며, 대학의 연구개발에 단기적으로 인과관계가 있는 것은 공공 및 기업의 연구개발투자인 것으로 나타났다. 이상의 연구를 통해서 공공 연구개발투자, 기업 연구개발투자, 대학 연구개발 투자와 경제성장 간에는 높은 상호 유기적인 관계가 존재한다는 것을 실증적으로 도출하였다. 향후 연구개발투자가 경제성장에 미치는 파급효과를 높이기 위해서는 대학과 기업의 연구개발투자가 상호 촉진되고, 기업의 연구개발투자가 공공 연구개발투자에 긍정적 영향을 미쳐 공공 연구개발투자가 향후 경제성장에 기여할 수 있도록 하는 정책개발이 필요할 것이다.