• Journal of the Korea Academia-Industrial cooperation Society
• /
• v.17 no.9
• /
• pp.74-82
• /
• 2016

The term research institute spin-offs refers to new firms created by public research institutes. These spin-offs are different from other start-ups in two respects: on the one hand, they should be located in the Special Research and Development Zones and, on the other hand, these firms are supposed to commercialize the results of public R&D activities. These spin-off firms show higher rates of survival and job creation than general new firms, which means that their contribution to economic growth is not negligible. The present study analyzes the factors affecting research institute spin-offs using a random effect panel logit model and negative binomial model. From previous studies, four elements are identified as playing an important role in the commercialization of public R&D through spin-offs, namely their organizational character, research capability, technological character, and geographical location. The empirical results demonstrate that government research institutes with more researchers and patents are more likely to create new firms. In addition, the location of the institutes significantly affects the probability of their creating spin-offs and their number. When the technological stage and TLO size are considered, however, it turns out that the number of researchers and technological stage play important roles in the spin-offs.

• Journal of Science Education
• /
• v.47 no.2
• /
• pp.211-224
• /
• 2023

The purpose of this study is to suggest how to investigate the reliability of the assessment, which consists of items generated by automatic item generation using empirical example data. To achieve this, we analyzed the illustrative assessment data by applying the multivariate generalizability theory, which can reflect the design of responding to different items for each student and multiple error sources in the assessment score. The result of the G-study showed that, in most designs, the student effect corresponding to the true score of the classical test theory was relatively large after residual effects. In addition, in the design where the content domain was fixed, the ranking of students did not change depending on the item types or items. Similarly, in the design where the item format was fixed, the difficulty showed little variation depending on the content domains. The result of the D-study indicated that the original assessment data achieved a sufficient level of reliability. It was also found that higher reliability than the original assessment data could be obtained by reducing the number of items in the content domains of operation, geometry, and probability and statistics, or by assigning higher weights to the domains of letters and formulas, and function. The efficient measurement conditions presented in this study are limited to the illustrative assessment data. However, the method applied in this study can be utilized to determine the reliability and to find efficient measurement conditions for the various assessment situations using automatic item generation based on measurement traits.

• Information Systems Review
• /
• v.25 no.4
• /
• pp.27-45
• /
• 2023

The importance of information security has grown alongside the development of information and communication technology. However, companies struggle to select suitable countermeasures within their limited budgets. Sönmez and Kılıç (2021) proposed a model using AHP and mixed integer programming to determine the optimal investment combination for mitigating information security breaches. However, their model had limitations: 1) a lack of objective measurement for countermeasure efficacy against security threats, 2) unrealistic scenarios where risk reduction surpassed pre-investment levels, and 3) cost duplication when using a single countermeasure for multiple threats. This paper enhances the model by objectively quantifying countermeasure efficacy using the beta probability distribution. It also resolves unrealistic scenarios and the issue of duplicating investments for a single countermeasure. An empirical analysis was conducted on domestic SMEs to determine investment budgets and risk levels. The improved model outperformed Sönmez and Kılıç's (2021) optimization model. By employing the proposed effectiveness measurement approach, difficulty to evaluate countermeasures can be quantified. Utilizing the improved optimization model allows for deriving an optimal investment portfolio for each countermeasure within a fixed budget, considering information security costs, quantities, and effectiveness. This aids in securing the information security budget and effectively addressing information security threats.

• Journal of the Korean Regional Science Association
• /
• v.34 no.2
• /
• pp.3-19
• /
• 2018

The objective of this study is to observe the efficiency of clinical performance on the supply and demand of medical resources in Korea. For the empirical analysis, we constructed the dataset on age standardized mortality rate, the number of physician, specialist, surgery, medical institution, ratio of general hospitals of 16 provinces in Korea from 2006 to 2013. The panel probability frontier model is employed as an analysis method and considered heteroscedasticity and autocorrelation of the error in panel data. In addition, the demographic and socioeconomic characteristics of the 16 provinces, unemployment rate, elderly population ratio, GRDP per capita, and ratio of hospitals in comparison to the general hospitals are used to find the effect on the technical efficiency of clinical performance on supply and demand of medical resources. The results are as follows. First, for the clinical performance, the supply side of human resources such as doctors and specialists and the demand side factors such as chronic illness clinic per unit population have a significant influence, respectively. Second, the technical efficiency of clinical performance on the supply and demand of medical resources of each input component was 59-70% in terms of clinical efficiency in each region. Third. estimates of technical efficiency of inputs that affect clinical performance showed a slight increase in all regions during the analysis period, but the increase trend decreased slightly. Fourth, the ratio of the elderly population and GRDP per capita have a positive influence on the technical efficiency of clinical performance on the supply and demand of medical resources. The difference of each efficiency by region is due to the regional differences of the input medical resources and the combination of them and the demographic and socioeconomic characteristics of the region. It is understood that the differences in technological efficiency due to the complexity of supply and demand of medical resources, demographic structure and economic difference affecting clinical performance by region are different.

• Journal of Animal Science and Technology
• /
• v.53 no.1
• /
• pp.29-34
• /
• 2011

Using the materials collected from nine farms in a three-way cross system to produce commercial pigs produced from F1 sows (Landrace $\times$ Large White) $\times$ Duroc, the power of individual discrimination and parentage of the 13 microsatellite (MS) marker set that has been suggested for individual/brand identification (traceability) was empirically tested. Initially, genotypes of the parental population ($F_1$ sows and Duroc), and commercial pigs were determined and the genotype frequency and polymorphic index were estimated using the Cervus 2.0 program. The probability of identity among genotypes of random individuals, that random half sibs and that of full sib individuals, based on the genotypes from 91 $F_1$ sows and Duroc were expected to be $4.94{\times}10^{-34}$, $8.16{\times}10^{-23}$ and $2.01{\times}10^{-08}$, respectively, using the API-CALC version 1.0 program. When commercial pigs were included, the estimates increased to $3.74{\times}10^{-35}$, $5.48{\times}10^{-25}$ and $2.96{\times}10^{-11}$, respectively. For the empirical verification of the estimated powers of individual discrimination and parentage, the parentage test was performed for 452 commercial pigs using PAPA version 2.0, and individuals with the same genotype were investigated using the Cervus version 2.0 program. Parents for all commercial pigs were successfully estimated and no identical individual was identified in the pedigree. Although the individual discriminating power was not fully verified because of the lack of individuals corresponding with the theoretical power, the 100% efficiency of parentage test was clearly confirmed. Therefore, we believe that the 13 MS marker set in conjunction with management record/information for the pig production kept in a farm/brand should be useful in the pork traceability in a brand unit.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.19 no.3
• /
• pp.155-172
• /
• 2024

The COVID-19 pandemic not only posed an enormous human crisis, but also had a profound impact on firms' survival. Social distancing and global lockdown measures designed to protect human lives have paradoxically impaired the business environment. As a result, firms that sought to gain competitive advantage by leveraging external resources were cut off from the external world and faced unexpected challenges. Under these circumstances, researches were conducted in the early stage of the pandemic to explore how certain firms survived while others fell, but they were limited to re-examining business performance using traditional financial factors. However, this study aims to investigate the role of entrepreneurs' competency in crisis situations from the Resource-Based View (RBV), as such competency plays an important role in improving business performance and subsequently the probability of startups' survival. Specifically, we evaluated the performance as of end of 2019 of 1,127 startups evaluated by the Korea Technology Finance Corporation (KOTEC), which provides policy financing based on technology assessment, in 2016. We then conducted an empirical study to determine the mediating role of business performance in the relationship between entrepreneurial competencies and firm survival by verifying how many of the sample firms were still in operation at the end of June 2023, when the Korean government declared COVID-19 as an endemic. For this purpose, we defined technological, financial, and marketing competencies as the sub-factors of entrepreneurial competency, and sales growth rate and employment growth rate as the sub-factors of business performance. The results of the empirical analysis showed that technological and financial competencies of the entrepreneur had a positive impact on both business performance and firm survival, and that sales growth rate and employment growth rate mediated the relationship between technological competence and firm survival. However, the positive influence of entrepreneurs' financial competence of the survival of startups was only evident through the growth of employment. This study is the first study in South Korea to define the survival factors of startups in the context of the COVID-19 pandemic, and is expected to contribute to the theoretical and practical discussions on the importance of entrepreneurs' competency as a firms' survival factor based on RVB.

• Journal of Technology Innovation
• /
• v.11 no.1
• /
• pp.147-176
• /
• 2003

This Paper Presents a new measurement technique to derive the level of BSRC (Basic Science and Research Capacity) index by use of the factor analysis which is extended with the assumption of the standard normal probability distribution of the selected explanatory variables. The new measurement method is used to forecast the gap of Korea's BSRC level compared with those of major OECD countries in terms of time lag and to make their international comparison during the time period of 1981∼1999, based on the assumption that the BSRC progress function of each country takes the form of the logistic curve. The US BSRC index is estimated to be 0.9878 in 1981, 0.9996 in 1990 and 0.99991 in 1999, taking the 1st place. The US BSRC level has been consistently the top among the 16 selected variables, followed by Japan, Germany, France and the United Kingdom, in order. Korea's BSRC is estimated to be 0.2293 in 1981, taking the lowest place among the 16 OECD countries. However, Korea's BSRC indices are estimated to have been increased to 0.3216 (in 1990) and 0.44652 (in 1999) respectively, taking 10th place. Meanwhile, Korea's BSRC level in 1999 (0.44652) is estimated to reach those of the US and Japan in 2233 and 2101, respectively. This means that Korea falls 234 years behind USA and 102 years behind Japan, respectively. Korea is also estimated to lag 34 years behind Germany, 16 years behind France and the UK, 15 years behind Sweden, 11 years behind Canada, 7 years behind Finland, and 5 years behind the Netherlands. For the period of 1981∼1999, the BSRC development speed of the US is estimated to be 0.29700. Its rank is the top among the selected OECD countries, followed by Japan (0.12800), Korea (0.04443), and Germany (0.04029). the US BSRC development speed (0.2970) is estimated to be 2.3 times higher than that of Japan (0.1280), and 6.7 times higher than that of Korea. German BSRC development speed (0.04029) is estimated to be fastest in Europe, but it is 7.4 times slower than that of the US. The estimated BSRC development speeds of Belgium, Finland, Italy, Denmark and the UK stand between 0.01 and 0.02, which are very slow. Particularly, the BSRC development speed of Spain is estimated to be minus 0.0065, staying at the almost same level of BSRC over time (1981 ∼ 1999). Since Korea shows BSRC development speed much slower than those of the US and Japan but relative]y faster than those of other countries, the gaps in BSRC level between Korea and the other countries may get considerably narrower or even Korea will surpass possibly several countries in BSRC level, as time goes by. Korea's BSRC level had taken 10th place till 1993. However, it is estimated to be 6th place in 2010 by catching up the UK, Sweden, Finland and Holland, and 4th place in 2020 by catching up France and Canada. The empirical results are consistent with OECD (2001a)'s computation that Korea had the highest R&D expenditures growth during 1991∼1999 among all OECD countries ; and the value-added of ICT industries in total business sectors value added is 12% in Korea, but only 8% in Japan. And OECD (2001b) observed that Korea, together with the US, Sweden, and Finland, are already the four most knowledge-based countries. Hence, the rank of the knowledge-based country was measured by investment in knowledge which is defined as public and private spending on higher education, expenditures on R&D and investment in software.

• Journal of Global Scholars of Marketing Science
• /
• v.17 no.3
• /
• pp.1-19
• /
• 2007

1. Purpose Rural tourism is made by individuals with different characteristics, needs and wants. It is important to have information on the characteristics and preferences of the consumers of the different types of existing rural accommodation. The stud aims to identify the determinants of consumer preference by type of accommodations. 2. Methodology 2.1 Sample Data were collected from 1000 people by telephone survey with three-stage stratified random sampling in seven metropolitan areas in Korea. Respondents were chosen by sampling internal on telephone book published in 2006. We surveyed from four to ten-thirty 0'clock afternoon so as to systematic sampling considering respondents' life cycle. 2.2 Two-step cluster Analysis Our study is accomplished through the use of a two-step cluster method to classify the accommodation in a reduced number of groups, so that each group constitutes a type. This method had been suggested as appropriate in clustering large data sets with mixed attributes. The method is based on a distance measure that enables data with both continuous and categorical attributes to be clustered. This is derived from a probabilistic model in which the distance between two clusters in equivalent to the decrease in log-likelihood function as a result of merging. 2.3 Multinomial Logit Analysis The estimation of a Multionmial Logit model determines the characteristics of tourist who is most likely to opt for each type of accommodation. The Multinomial Logit model constitutes an appropriate framework to explore and explain choice process where the choice set consists of more than two alternatives. Due to its ease and quick estimation of parameters, the Multinomial Logit model has been used for many empirical studies of choice in tourism. 3. Findings The auto-clustering algorithm indicated that a five-cluster solution was the best model, because it minimized the BIC value and the change in them between adjacent numbers of clusters. The accommodation establishments can be classified into five types: Traditional House, Typical Farmhouse, Farmstay house for group Tour, Log Cabin for Family, and Log Cabin for Individuals. Group 1 (Traditional House) includes mainly the large accommodation establishments, i.e. those with ondoll style room providing meals and one shower room on family tourist, of original construction style house. Group 2 (Typical Farmhouse) encompasses accommodation establishments of Ondoll rooms and each bathroom providing meals. It includes, in other words, the tourist accommodations Known as "rural houses." Group 3 (Farmstay House for Group) has accommodation establishments of Ondoll rooms not providing meals and self cooking facilities, large room size over five persons. Group 4 (Log Cabin for Family) includes mainly the popular accommodation establishments, i.e. those with Ondoll style room with on shower room on family tourist, of western styled log house. While the accommodations in this group are not defined as regards type of construction, the group does include all the original Korean style construction, Finally, group 5 (Log Cabin for Individuals)includes those accommodations that are bedroom western styled wooden house with each bathroom. First Multinomial Logit model is estimated including all the explicative variables considered and taking accommodation group 2 as base alternative. The results show that the variables and the estimated values of the parameters for the model giving the probability of each of the five different types of accommodation available in rural tourism village in Korea, according to the socio-economic and trip related characteristics of the individuals. An initial observation of the analysis reveals that none of variables income, the number of journey, distance, and residential style of house is explicative in the choice of rural accommodation. The age and accompany variables are significant for accommodation establishment of group 1. The education and rural residential experience variables are significant for accommodation establishment of groups 4 and 5. The expenditure and marital status variables are significant for accommodation establishment of group 4. The gender and occupation variable are significant for accommodation establishment of group 3. The loyalty variable is significant for accommodation establishment of groups 3 and 4. The study indicates that significant differences exist among the individuals who choose each type of accommodation at a destination. From this investigation is evident that several profiles of tourists can be attracted by a rural destination according to the types of existing accommodations at this destination. Besides, the tourist profiles may be used as the basis for investment policy and promotion for each type of accommodation, making use in each case of the variables that indicate a greater likelihood of influencing the tourist choice of accommodation.

• Asia pacific journal of information systems
• /
• v.20 no.2
• /
• pp.125-155
• /
• 2010

Ontologies have been adopted in various business and scientific communities as a key component of the Semantic Web. Despite the increasing importance of ontologies, ontology developers still perceive construction tasks as a challenge. A clearly defined and well-structured methodology can reduce the time required to develop an ontology and increase the probability of success of a project. However, no reliable knowledge-engineering methodology for ontology development currently exists; every methodology has been tailored toward the development of a particular ontology. In this study, we developed a Graduation Screen Ontology (GSO). The graduation screen domain was chosen for the several reasons. First, the graduation screen process is a complicated task requiring a complex reasoning process. Second, GSO may be reused for other universities because the graduation screen process is similar for most universities. Finally, GSO can be built within a given period because the size of the selected domain is reasonable. No standard ontology development methodology exists; thus, one of the existing ontology development methodologies had to be chosen. The most important considerations for selecting the ontology development methodology of GSO included whether it can be applied to a new domain; whether it covers a broader set of development tasks; and whether it gives sufficient explanation of each development task. We evaluated various ontology development methodologies based on the evaluation framework proposed by G$\acute{o}$mez-P$\acute{e}$rez et al. We concluded that METHONTOLOGY was the most applicable to the building of GSO for this study. METHONTOLOGY was derived from the experience of developing Chemical Ontology at the Polytechnic University of Madrid by Fern$\acute{a}$ndez-L$\acute{o}$pez et al. and is regarded as the most mature ontology development methodology. METHONTOLOGY describes a very detailed approach for building an ontology under a centralized development environment at the conceptual level. This methodology consists of three broad processes, with each process containing specific sub-processes: management (scheduling, control, and quality assurance); development (specification, conceptualization, formalization, implementation, and maintenance); and support process (knowledge acquisition, evaluation, documentation, configuration management, and integration). An ontology development language and ontology development tool for GSO construction also had to be selected. We adopted OWL-DL as the ontology development language. OWL was selected because of its computational quality of consistency in checking and classification, which is crucial in developing coherent and useful ontological models for very complex domains. In addition, Protege-OWL was chosen for an ontology development tool because it is supported by METHONTOLOGY and is widely used because of its platform-independent characteristics. Based on the GSO development experience of the researchers, some issues relating to the METHONTOLOGY, OWL-DL, and Prot$\acute{e}$g$\acute{e}$-OWL were identified. We focused on presenting drawbacks of METHONTOLOGY and discussing how each weakness could be addressed. First, METHONTOLOGY insists that domain experts who do not have ontology construction experience can easily build ontologies. However, it is still difficult for these domain experts to develop a sophisticated ontology, especially if they have insufficient background knowledge related to the ontology. Second, METHONTOLOGY does not include a development stage called the "feasibility study." This pre-development stage helps developers ensure not only that a planned ontology is necessary and sufficiently valuable to begin an ontology building project, but also to determine whether the project will be successful. Third, METHONTOLOGY excludes an explanation on the use and integration of existing ontologies. If an additional stage for considering reuse is introduced, developers might share benefits of reuse. Fourth, METHONTOLOGY fails to address the importance of collaboration. This methodology needs to explain the allocation of specific tasks to different developer groups, and how to combine these tasks once specific given jobs are completed. Fifth, METHONTOLOGY fails to suggest the methods and techniques applied in the conceptualization stage sufficiently. Introducing methods of concept extraction from multiple informal sources or methods of identifying relations may enhance the quality of ontologies. Sixth, METHONTOLOGY does not provide an evaluation process to confirm whether WebODE perfectly transforms a conceptual ontology into a formal ontology. It also does not guarantee whether the outcomes of the conceptualization stage are completely reflected in the implementation stage. Seventh, METHONTOLOGY needs to add criteria for user evaluation of the actual use of the constructed ontology under user environments. Eighth, although METHONTOLOGY allows continual knowledge acquisition while working on the ontology development process, consistent updates can be difficult for developers. Ninth, METHONTOLOGY demands that developers complete various documents during the conceptualization stage; thus, it can be considered a heavy methodology. Adopting an agile methodology will result in reinforcing active communication among developers and reducing the burden of documentation completion. Finally, this study concludes with contributions and practical implications. No previous research has addressed issues related to METHONTOLOGY from empirical experiences; this study is an initial attempt. In addition, several lessons learned from the development experience are discussed. This study also affords some insights for ontology methodology researchers who want to design a more advanced ontology development methodology.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.5 no.4
• /
• pp.1-34
• /
• 2010

Recently, failure rates of Kosdaq IPO firms are increasing and their survival rates tend to be very low, and when these firms do fail, often times backed by a number of governmental financial supports, they may inflict severe financial damage to investors, let alone economy as a whole. To ensure investors' confidence in Kosdaq and foster promising and healthy businesses, it is necessary to precisely assess their intrinsic values and survivability. This study investigates what contributed to the failure of IPO firms and analyzed how these elements are factored into corresponding firms' stock returns. Failure risks are assessed at the time of IPO. This paper considers factors reflecting IPO characteristics, a firm's underwriter prestige, auditor's quality, IPO offer price, firm's age, and IPO proceeds. The study further went on to examine how, if at all, these failure risks involved during IPO led to post-IPO stock prices. Sample firms used in this study include 98 Kosdaq firms that have failed and 569 healthy firms that are classified into the same business categories, and Logit models are used in estimate the probability of failure. Empirical results indicate that auditor's quality, IPO offer price, firm's age, and IPO proceeds shown significant relevance to failure risks at the time of IPO. Of other variables, firm's size and ROA, previously deemed significantly related to failure risks, in fact do not show significant relevance to those risks, whereas financial leverage does. This illustrates the efficacy of a model that appropriately reflects the attributes of IPO firms. Also, even though R&D expenditures were believed to be value relevant by previous studies, this study reveals that R&D is not a significant factor related to failure risks. In examing the relation between failure risks and stock prices, this study finds that failure risks are negatively related to 1 or 2 year size-adjusted abnormal returns after IPO. The results of this study may provide useful knowledge for government regulatory officials in contemplating pertinent policy and for credit analysts in their proper evaluation of a firm's credit standing.