• Knowledge Management Research
• /
• v.9 no.4
• /
• pp.113-125
• /
• 2008

Net present value (NPV) and return on investment (ROI) are commonly used to evaluate investment in new technologies. Sometimes, however, measuring the value of investment in new IT becomes very difficult due to its wide scope of application coupled with embedded options in its adoption. Therefore, comprehensive but easily understandable methodologies are needed to solve the complicated problems resulting from the complexity of new technologies. This paper employs a real option analysis to evaluate RFID adoption in the supply chain. Real options analysis should be a better way to evaluate a disruptive technology like RFID. However, the pure (probabilistic) real option rule characterizes the present value of expected cash flows and the expected costs by a single number, which is not realistic in many cases. To solve the problem, this paper considers the real option rule in a more realistic setting, namely, when the present values of expected cash flows and expected costs are estimated by trapezoidal fuzzy numbers.

• Journal of the Korean Operations Research and Management Science Society
• /
• v.32 no.3
• /
• pp.1-15
• /
• 2007

In this paper, the return link of interactive GEO satellite network providing multimedia services is considered. First, we classify data by delay characteristics, and analyze the numbers of expected lost packets and expected delay packets for each data class of each terminal. Next we mathematically formulate optimal rate scheduling model to minimize the weighted sum of the numbers of expected lost packets and expected delay packets considering priority of each data class. We also suggest a dynamic rate scheduling scheme based on Lagrangean relaxation technique and subgradient technique to solve the proposed model in a fast time. Extensive experiments show that the proposed scheme provides encouraging results.

• Journal of the Korean association of regional geographers
• /
• v.12 no.6
• /
• pp.748-756
• /
• 2006

This study mainly deals with price behavior developed in a agricultural location model (or closed model) considering the production and demand aspects. The short-run situation of price and output is associated with the yearly fluctuation of yield from agricultural production. Demand is generally regarded as constant in the short-run because of being inelastic over short time. The long-run situation is associated with a period in which all related variables can be varied. Then a price behaviors from the two contrasting closed models have been further explored in the long-run economy. Agricultural price for each activity in the closed model is affected by change in agricultural production. Also, falling agricultural price is connected with lower rents and lower land values.

• The Journal of Information Systems
• /
• v.27 no.3
• /
• pp.43-62
• /
• 2018

Purpose Since the Bitcoin, which was the first virtual currency, was made at 2009, almost 1,000 virtual currencies appeared onstage in the world. Even though virtual currencies have the function of money as a medium of exchange or contract, any of those has not yet entered the commercialization stage. Instead, some of the virtual currencies show the nature of investment assets. In the case of virtual money investment, users tend to use all the information of the world because information transfer is very easy and capital movement is almost free between different countries. In addition, as the transaction sizes of virtual currencies increase, a virtual currency price is no longer independent and is likely to be affected by the prices of other virtual currencies. Therefore, it is necessary to understand the influence among virtual currency markets, which helps successful implementation of investment strategies. Design/methodology/approach This study focuses on the investment product function of virtual money and conducts the analysis using the time series model used in the financial and economic areas. In this paper, we try to analyze the return and volatility transfer effect of virtual money markets through GJR-GARCH model. Findings This study is expected to find out whether we can make market forecasts through reflecting changes in other markets. In addition, we can reduce the trial and error of user decision making by using the information on the yield and volatility transition effect derived from the research results, and it is expected to reduce the opportunity cost of users.

• Journal of the Korean Society of Manufacturing Process Engineers
• /
• v.5 no.2
• /
• pp.49-55
• /
• 2006

In the consideration of the problem occurred by certain return bender brazing welding works that depend only on handworks, the automatization of the whole production line is impossible due to the high dependency of skillful workers. In addition, it is difficult to establish a standardization due to the various heat exchanger model and irregular amount of orders, and the fault reduction is also impossible due to the severe difference in brazing conditions. It is necessary to develop a method, which quantitively analyzes the problem existed in this manual brazing welding of return benders and technically solves that problem, and to lead the improvement of the productivity and cost reduction in order to increase the business competitive power. Then, this will contribute the technical development of automatic welding for Korea's heat exchanger businesses. Thus, this study develops an automatic technology, which automatically controls the flame strength using digital control methods, for various models and produces a sample model. It is possible to increase the productivity and produce uniformed and qualified products by solving the problem existed in manual processes using the developed automatic return bender brazing system. In addition, the brazing condition can be automatically controlled according to the model and line speed, and such an economical operation can reduce the production cost. The developed system is expected to future applications not only heat exchangers in the field of refrigeration and air conditioning, but also other various industrial fields that apply heat exchangers, such as car and boiler industries.

• The Journal of the Korea Contents Association
• /
• v.19 no.8
• /
• pp.172-183
• /
• 2019

Modern society has a tendency to raise fewer children. As a result, parents became more interested in their children's creative ways of thinking and began to look for new ways of teaching. The child care support center expects a positive effect by lending various toys and books to improve the physical, emotional and social characteristics of children and to help reduce household burden on parents. In this paper, we design and implement a rental return system to effectively utilize a toy library operated by the child care support center. The proposed system makes it easy for any user to search for items in any branch operated by the Child Care Support Center and to manage loan return records. The administrator can manage data such as loans, returns, and past due from the rental return processing system, and effectively operate the child care support center through statistics of data generated. Children are expected to be given a variety of entertainment cultures and cultural benefits to their families to ease the burden of parenting.

• Journal of Korean Foot and Ankle Society
• /
• v.23 no.2
• /
• pp.52-57
• /
• 2019

Purpose: An ingrown nail is common in military trainees who are exposed to highly demanding activities. Although the matrixectomy procedure has been the main treatment modality, several drawbacks may follow after the procedure, such as infection, periostitis, and continued pain that causes a delayed return to duty. This study examined the outcomes of a simple partial nail extraction with the hypothesis that this procedure may bring an earlier return to duty, lower the perioperative complications, and produce a comparable recurrence rate. Materials and Methods: The medical records of patients who had surgical treatment for an ingrown nail in the authors' institution between April 2016 and December 2017 were reviewed retrospectively. Under the inclusion and exclusion criteria, 28 patients with a simple partial nail extraction (group A) and 29 patients with a partial nail extraction with matrixectomy (group B) were investigated. As the clinical outcome, the visual analogue scale (VAS) and satisfaction score, time to return to duty, complications, and recurrence rate were checked and compared between the groups. Results: The VAS scores of group B were significantly higher during the first (p<0.001) and second (p=0.026) follow-up week than group A. The time to return to duty was shorter in group A (7.8 days) than group B (10.1 days), and this difference was significant (p<0.001). Group B had five patients with complications, whereas group A had none (p=0.028). No differences in the recurrence rate (p=0.197) and patient satisfaction (p=0.764) were found between the groups. Conclusion: In this study, simple partial nail extraction in military trainees resulted in lower postoperative pain, lower complication rates, and earlier return to duty than the procedure with matrixectomy. Military trainees are temporarily exposed to highly demanding activities. Thus, a satisfactory outcome would be expected with simple partial nail extraction without performing a radical procedure, such as a matrixectomy.

• The Journal of Asian Finance, Economics and Business
• /
• v.5 no.3
• /
• pp.19-29
• /
• 2018

This research examined the alternatives of Jensen's alpha (α) estimation models in the Capital Asset Pricing Model, discussed by Treynor (1961), Sharpe (1964), and Lintner (1965), using the robust maximum likelihood type m-estimator (MM estimator) and Bayes estimator with conjugate prior. According to finance literature and practices, alpha has often been estimated using ordinary least square (OLS) regression method and monthly return data set. A sample of 50 securities is randomly selected from the list of the S&P 500 index. Their daily and monthly returns were collected over a period of the last five years. This research showed that the robust MM estimator performed well better than the OLS and Bayes estimators in terms of efficiency. The Bayes estimator did not perform better than the OLS estimator as expected. Interestingly, we also found that daily return data set would give more accurate alpha estimation than monthly return data set in all three MM, OLS, and Bayes estimators. We also proposed an alternative market efficiency test with the hypothesis testing Ho: α = 0 and was able to prove the S&P 500 index is efficient, but not perfect. More important, those findings above are checked with and validated by Jackknife resampling results.

• Asia-Pacific Journal of Business
• /
• v.11 no.3
• /
• pp.95-106
• /
• 2020

Purpose - This study examines the information effect of the disclosure of new office investments on the Korean stock market and investigates determinant of performance of sample firms. Design/methodology/approach - The sample consists of companies listed on the Korean Exchange that announced investments in new office construction for eleven-years from January 2007 to December 2017. It analyzes excess return using event study methodology and studies the determinants of abnormal return with multiple regression analysis. Findings - We find that abnormal returns of the short and long window are positive on average and statistically significant. In particular, CAR of high growth subsample is a larger positive return than that of the low one both short and long window. Difference in abnormal returns by investment size is observed only in short time window. But there is not observed difference by cash holding level. Research implications or Originality - This finding is able to be added to the evidence of the theory of corporate value maximization academically. Moreover, it shows the possibility that building a new office can have a positive effect on corporate value. It is expected to help investors make decisions because it can provide useful information to market participants in practice.

• Journal of Korean Society for Quality Management
• /
• v.40 no.1
• /
• pp.39-48
• /
• 2012

An early detection system for warranty issues periodically collects customers' claim data and automatically reports alarms about emerging issues based on statistical algorithms. It helps companies to reduce an issue definition time and save the handling cost of warranty claims. This paper provides an evaluation framework to validate the economic effect of an early detection system project. For this purpose, we present economical index of a project with explicit formulas such as ROI(return on investment), PP(payback period), NPV(net present value), PI(profitability index) and IRR(internal rate of return) and analyze the sensitivities of the index according to the variation of project input parameters. The proposed analysis framework is expected to be used for evaluating economic values of various system integration projects.