• Journal of Intelligence and Information Systems
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• v.21 no.3
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• pp.117-129
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• 2015

As the Internet becomes ubiquitous, a large volume of information is posted on the Internet with exponential growth every day. Accordingly, it is not unusual that investors in stock markets gather and compile firm-specific or market-wide information through online searches. Importantly, it becomes easier for investors to acquire value-relevant information for their investment decision with the help of powerful search tools on the Internet. Our study examines whether or not the Internet helps investors assess a firm's value better by using firm-level data over long periods spanning from January 2004 to December 2013. To this end, we construct weekly-based search volume for information technology (IT) services firms on the Internet. We limit our focus to IT firms since they are often equipped with intangible assets and relatively less recognized to the public which makes them hard-to measure. To obtain the information on those firms, investors are more likely to consult the Internet and use the information to appreciate the firms more accurately and eventually improve their investment decisions. Prior studies have shown that changes in search volumes can reflect the various aspects of the complex human behaviors and forecast near-term values of economic indicators, including automobile sales, unemployment claims, and etc. Moreover, search volume of firm names or stock ticker symbols has been used as a direct proxy of individual investors' attention in financial markets since, different from indirect measures such as turnover and extreme returns, they can reveal and quantify the interest of investors in an objective way. Following this line of research, this study aims to gauge whether the information retrieved from the Internet is value relevant in assessing a firm. We also use search volume for analysis but, distinguished from prior studies, explore its impact on return comovements with market returns. Given that a firm's returns tend to comove with market returns excessively when investors are less informed about the firm, we empirically test the value of information by examining the association between Internet searches and the extent to which a firm's returns comove. Our results show that Internet searches are negatively associated with return comovements as expected. When sample is split by the size of firms, the impact of Internet searches on return comovements is shown to be greater for large firms than small ones. Interestingly, we find a greater impact of Internet searches on return comovements for years from 2009 to 2013 than earlier years possibly due to more aggressive and informative exploit of Internet searches in obtaining financial information. We also complement our analyses by examining the association between return volatility and Internet search volumes. If Internet searches capture investors' attention associated with a change in firm-specific fundamentals such as new product releases, stock splits and so on, a firm's return volatility is likely to increase while search results can provide value-relevant information to investors. Our results suggest that in general, an increase in the volume of Internet searches is not positively associated with return volatility. However, we find a positive association between Internet searches and return volatility when the sample is limited to larger firms. A stronger result from larger firms implies that investors still pay less attention to the information obtained from Internet searches for small firms while the information is value relevant in assessing stock values. However, we do find any systematic differences in the magnitude of Internet searches impact on return volatility by time periods. Taken together, our results shed new light on the value of information searched from the Internet in assessing stock values. Given the informational role of the Internet in stock markets, we believe the results would guide investors to exploit Internet search tools to be better informed, as a result improving their investment decisions.

• Asia pacific journal of information systems
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• v.24 no.4
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• pp.611-635
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• 2014

Information systems (IS) have become ubiquitous and changed every aspect of how people live their lives. While some IS have been successfully adopted and widely used, others have failed to be adopted and crowded out in spite of remarkable progress in technologies. Both the technology acceptance model (TAM) and the IS Success Model (ISSM), among many others, have contributed to explain the reasons of success as well as failure in IS adoption and usage. While the TAM suggests that intention to use and perceived usefulness lead to actual IS usage, the ISSM indicates that information quality, system quality, and service quality affect IS usage and user satisfaction. Upon literature review, however, we found a significant void in theoretical development and its applications that employ either of the two models, and we raise research questions. First of all, in spite of the causal relationship between intention to use and actual usage, in most previous studies, only intention to use was employed as a dependent variable without overt explaining its relationship with actual usage. Moreover, even in a few studies that employed actual IS usage as a dependent variable, the degree of actual usage was measured based on users' perceptual responses to survey questionnaires. However, the measurement of actual usage based on survey responses might not be 'actual' usage in a strict sense that responders' perception may be distorted due to their selective perceptions or stereotypes. By the same token, the degree of system quality that IS users perceive might not be 'real' quality as well. This study seeks to fill this void by measuring the variables of actual usage and system quality using 'fact' data such as system logs and specifications of users' information and communications technology (ICT) devices. More specifically, we propose an integrated research model that bring together the TAM and the ISSM. The integrated model is composed of both the variables that are to be measured using fact as well as survey data. By employing the integrated model, we expect to reveal the difference between real and perceived degree of system quality, and to investigate the relationship between the perception-based measure of intention to use and the fact-based measure of actual usage. Furthermore, we also aim to add empirical findings on the general research question: what factors influence actual IS usage and how? In order to address the research question and to examine the research model, we selected a mobile campus application (MCA). We collected both fact data and survey data. For fact data, we retrieved them from the system logs such information as menu usage counts, user's device performance, display size, and operating system revision version number. At the same time, we conducted a survey among university students who use an MCA, and collected 180 valid responses. A partial least square (PLS) method was employed to validate our research model. Among nine hypotheses developed, we found five were supported while four were not. In detail, the relationships between (1) perceived system quality and perceived usefulness, (2) perceived system quality and perceived intention to use, (3) perceived usefulness and perceived intention to use, (4) quality of device platform and actual IS usage, and (5) perceived intention to use and actual IS usage were found to be significant. In comparison, the relationships between (1) quality of device platform and perceived system quality, (2) quality of device platform and perceived usefulness, (3) quality of device platform and perceived intention to use, and (4) perceived system quality and actual IS usage were not significant. The results of the study reveal notable differences from those of previous studies. First, although perceived intention to use shows a positive effect on actual IS usage, its explanatory power is very weak ($R^2$=0.064). Second, fact-based system quality (quality of user's device platform) shows a direct impact on actual IS usage without the mediating role of intention to use. Lastly, the relationships between perceived system quality (perception-based system quality) and other constructs show completely different results from those between quality of device platform (fact-based system quality) and other constructs. In the post-hoc analysis, IS users' past behavior was additionally included in the research model to further investigate the cause of such a low explanatory power of actual IS usage. The results show that past IS usage has a strong positive effect on current IS usage while intention to use does not have, implying that IS usage has already become a habitual behavior. This study provides the following several implications. First, we verify that fact-based data (i.e., system logs of real usage records) are more likely to reflect IS users' actual usage than perception-based data. In addition, by identifying the direct impact of quality of device platform on actual IS usage (without any mediating roles of attitude or intention), this study triggers further research on other potential factors that may directly influence actual IS usage. Furthermore, the results of the study provide practical strategic implications that organizations equipped with high-quality systems may directly expect high level of system usage.

• Asia pacific journal of information systems
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• v.18 no.1
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• pp.145-162
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• 2008

One of the big concerns in e-society is privacy issue. In special, in developing robust ubiquitous smart space and corresponding services, user profile and preference are collected by the service providers. Privacy issue would be more critical in context-aware services simply because most of the context data themselves are private information: user's current location, current schedule, friends nearby and even her/his health data. To realize the potential of ubiquitous smart space, the systems embedded in the space should corporate personal privacy preferences. When the users invoke a set of services, they are asked to allow the service providers or smart space to make use of personal information which is related to privacy concerns. For this reason, the users unhappily provide the personal information or even deny to get served. On the other side, service provider needs personal information as rich as possible with minimal personal information to discern royal and trustworthy customers and those who are not. It would be desirable to enlarge the allowable personal information complying with the service provider's request, whereas minimizing service provider's requiring personal information which is not allowed to be submitted and user's submitting information which is of no value to the service provider. In special, if any personal information required by the service provider is not allowed, service will not be provided to the user. P3P (Platform for Privacy Preferences) has been regarded as one of the promising alternatives to preserve the personal information in the course of electronic transactions. However, P3P mainly focuses on preserving the buyers' personal information. From time to time, the service provider's business data should be protected from the unintended usage from the buyers. Moreover, even though the user's privacy preference could depend on the context happened to the user, legacy P3P does not handle the contextual change of privacy preferences. Hence, the purpose of this paper is to propose a mutual P3P-based negotiation mechanism. To do so, service provider's privacy concern is considered as well as the users'. User's privacy policy on the service provider's information also should be informed to the service providers before the service begins. Second, privacy policy is contextually designed according to the user's current context because the nomadic user's privacy concern structure may be altered contextually. Hence, the methodology includes mutual privacy policy and personalization. Overall framework of the mechanism and new code of ethics is described in section 2. Pervasive platform for mutual P3P considers user type and context field, which involves current activity, location, social context, objects nearby and physical environments. Our mutual P3P includes the privacy preference not only for the buyers but also the sellers, that is, service providers. Negotiation methodology for mutual P3P is proposed in section 3. Based on the fact that privacy concern occurs when there are needs for information access and at the same time those for information hiding. Our mechanism was implemented based on an actual shopping mall to increase the feasibility of the idea proposed in this paper. A shopping service is assumed as a context-aware service, and data groups for the service are enumerated. The privacy policy for each data group is represented as APPEL format. To examine the performance of the example service, in section 4, simulation approach is adopted in this paper. For the simulation, five data elements are considered: $\cdot$ UserID $\cdot$ User preference $\cdot$ Phone number $\cdot$ Home address $\cdot$ Product information $\cdot$ Service profile. For the negotiation, reputation is selected as a strategic value. Then the following cases are compared: $\cdot$ Legacy P3P is considered $\cdot$ Mutual P3P is considered without strategic value $\cdot$ Mutual P3P is considered with strategic value. The simulation results show that mutual P3P outperforms legacy P3P. Moreover, we could conclude that when mutual P3P is considered with strategic value, performance was better than that of mutual P3P is considered without strategic value in terms of service safety.

• Journal of Digital Convergence
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• v.13 no.10
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• pp.99-106
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• 2015

The biggest change in modern society because we will transition to a ubiquitous environment. Changes in the environment has become a crucial instrument that finally opens the era of convergence management through integrating the various fields in their own business. The desire of consumers to new innovative products appears to be a constant thing companies are constantly trying to respond to these changes, there may not be a problem for the convergence of sustainability management company in the end. In this study, based on the convergence of corporate management need to be a fusion component of corporate management to examine whether any impact on the quality of innovation. Results showed that the fusion management components that affect both internal factors and external factors, core factors quality improvement. Internal factors detailed in the convergence management leadership, risk management factors showed a positive external factors affecting appeared to affect positively the knowledge-sharing factors, infrastructure factors. Finally, core factor is technology factors, educational learning factors showed a positive impact. This results suggest that be a big impact factors of competitiveness of enterprises through convergence management in the future and will serve as the strategic basis for the convergence of future corporate management.

• Archives of design research
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• v.20 no.3 s.71
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• pp.49-60
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• 2007

As the world is in the age of globalization and information, we observe diverse changes in the market environment. Since wide-spread internet services and global networks made ubiquitous learning and business possible, equalizing consumers' ideology and preference, new trend and life style could be introduced easily. This study stipulates on the theoretical concept of the wellbeing consumer and LOHAS consumer. Consumers of LOHAS could be sampled out through pre-questionnaire targeting at selected food, clothing, and shelter based on companies of both wellbeing and general brands. Through this it is attempted to measure wellbeing emotion, recognition quotient of emotion and reason, affirmation and negation, mental emotion quotient, and preference in order to find out their value and to ultimately come up with what web design should be aiming at. Conclusions are as follows: Firstly, consumers easily recognize emotional identification from the web pages of wellbeing brand, rather than that of general brands. Secondly, what web pages of wellbeing brand recognize is reason, not emotion. Thirdly, the design of wellbeing brands scored higher than those of general brands in terms of positive aspects such as hospitality and familiarity, and high mental emotion quotient could not affect the consumers' preference toward web design. Fourthly, wellbeing brands win more preference than general brands do, and preference becomes higher after customers' visit to web pages basically. Lastly, sampled emotional adjectives toward the web designs of wellbeing brands marked a aesthetic graph figure, without leaning toward an active or stable one. It is expected that this study can serve as a groundwork to create proper strategies to actively involve consumers in industrial sphere.

• Journal of the Institute of Electronics Engineers of Korea CI
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• v.48 no.6
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• pp.104-113
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• 2011

While converging USN Services, a single physical infrastructure can be used in several services and in several physical infrastructures can make up a single service. Therefore the physical infrastructure and service have to manage separately for effective convergence of USN Services. However, established Identification Scheme is not suitable to distinguish various services that USN provides. This paper suggests USN Service Identification Scheme that can be separated and managed. Through USN Service Identification Scheme suggested, firstly, it is possible to obtain Service Identification Scheme utilizing various technology such as RFID TAG, QR Code, radio broadcasting, etc. because it is possible to process USN Service Identification Scheme. Secondly, it is easy to mange the service, develope the user application program and interlock with established USN Standard technique as view from service provider. Thirdly, it is possible to manage systematically USN Service. Fourthly, users can search USN Service easily, so it can contribute actively for invigoration of USN service. This thesis, firstly, has analyzed about standard related USN Service and USN Identification Scheme. Secondly, this has suggested brand-new USN Service Identification Scheme based on established USN Identification Scheme.

• Management & Information Systems Review
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• v.23
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• pp.25-40
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• 2007

In the highly competitive and divers world of financial market, customer is the single most important factor to company's survival. Especially, creating a relationship with valued customers is a key to success. CRM provides the mean to retain high value customers. It takes a prospect of what customers expect. Utilizing those knowledge can help the products and service meet the customers' needs, thereby maximizing customer satisfaction and company's profit. In this report, I am going to suggest a few ways to develop successful CRM in the life insurance industry. First, CRM should innovate the way of communication to keep pace with Web 2.0 era. In other words, the customer's needs should be caught by real-time communication than traditional off-line market research. Thus, the functionality and specification of products can be decided by customer's direct choice so that the customers are able to purchase the understanding and experience of the products. Second, CRM project should consider whether the initial strategy plan can promise the stable growth of customer at the first step. When planning strategy, the project needs to identify what customer wants and how to fulfill the needs with stable growth of the customer. In addition, the CRM should be developed by realizing that customer centric benefits ultimately guarantee the growth of the organization. Third, CRM systems should enhance the organization's ability to take the customer's insight in a 360 degree view and to capture the voice of the customer directly. In order to develop the best matched product package, more precise customer segmentation should be ahead of market segmentation strategy. Forth, the biggest reward from CRM will be a customer royalty program. Many successful banks are already planning and practicing customer royalty strategy. A comprehensive analysis of customers and their behavior allow organization to identify high value potential customers' needs and determine a strategy required to meet those needs. Even life insurance companies such as Prudential Korea are developing products designed for royal customers. Fifth, understanding and managing the experience of customer called Customer Experience Management also can increase customer satisfaction. Measuring only customers' experience and adapting it to marketing strategy make products position in the gap between the customers' expectation and experience not required by market. A key component of CEM is its application across all organizational functions. At last, the direction of change and development of CRM can be defined from the conceptualization of information technology represented by Ubiquitous and Web 2.0. Instead of just managing customer information, companies should take the initiative in personalized system with customer oriented strategy. Furthermore, with the regular communication between CRM stakeholders (Sales-Marketing-IT), customer's demand should be directly reflected to enterprise strategy in real time.

• Journal of the Institute of Electronics and Information Engineers
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• v.49 no.11
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• pp.118-131
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• 2012

The existing electronic tagging system traces the location of a sex offender through communicating with GPS satellites and mobile phone base stations in order to prevent repeated crimes. However, the GPS satellite communication method does not work well in the interiors of downtown buildings or on the subways where it is difficult to receive satellite signals. In such cases, the location can be traced through communication with mobile phone base stations. But the distance between mobile phone base stations is several hundred meters, and as a result the margin of error for location tracing can be maximum of 2km in accuracy reduction. Take for example, if a kindergarten is located on the 2nd floor and a coffee shop and the sex offender are located on the 3rd floor in a 5-story building that is downtown, the existing electronic tagging system cannot trace the location of the sex offender as the GPS satellite communication does not work in the interior of the building and the exact floor that the sex offender is located on cannot be recognized through communication with mobile phone base stations. This occurrence is a big problem for the existing electronic tagging system, which is based on position recognition. Therefore, this study suggests a smart electronic tagging system that can monitor sex offenders by using a Ubiquitous Sensor Network in such extreme situations where position recognition is not possible.

• Informatization Policy
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• v.19 no.1
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• pp.74-90
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• 2012

This thesis analyzes the Apple Inc.'s case from the viewpoint of the necessity for the protection of information privacy related to location data as for information society and ubiquitous community. Meanwhile, the regulatory conformity to equilibrium of contradictional value between personal data protection and utilization of information is debated from the fundamental right as for constitutional law concept to the commercial and technological structure in terms of economic and business point. Therefore, this paper reaches the conclusion that the legislative system should form a harmonious relationship between legal protection and lawful utilization to reappraise the present condition of legalization on personal data protection from guaranteeing rights and interests of information subject in the perspective of human rights to information guarantee consequently. As a result, it is required to revaluate the lawfulness of the fine on the violation of administrative duty levied by KCC(Korea Communications Commission).

• Journal of Intelligence and Information Systems
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• v.12 no.2
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• pp.67-81
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• 2006

While the existing Web focuses on the interface with human users based on HTML, the next generation Web will focus on the interaction among software agents by using XML and XML-based standards and technologies. The inference engine, which will serve as brains of software agents in the next generation Web, should thoroughly understand the Semantic Web, the standard language of the next generation Web. As abasis for the service, the W3C (World Wide Web Consortium) has recommended SWRL (Semantic Web Rule Language) which had been made by compounding OWL (Web Ontology Language) and RuleML (Rule Markup Language). In this research, we develop a backward chaining inference engine SMART-B (SeMantic web Agent Reasoning Tools -Backward chaining inference engine), which uses SWRL and OWL to represent rules and facts respectively. We analyze the requirements for the SWRL-based backward chaining inference and design analgorithm for the backward chaining inference which reflects the traditional backward chaining inference algorithm and the requirements of the next generation Semantic Web. We also implement the backward chaining inference engine and the administrative tools for fact and rule bases into Java components to insure the independence and portability among different platforms under the environment of Ubiquitous Computing.