• Title/Summary/Keyword: financial management systems model

Search Result 291, Processing Time 0.027 seconds

A Study on Data Reference Model for a Cost Management System on Small Business Food Franchise (소형외식프랜차이즈업체의 원가관리시스템을 위한 데이터참조모델에 대한 연구)

  • Lee, Min Jung;Eu, Yoon-Sun;Park, Sang Chan;Kim, SeokHun
    • Journal of the Korea Society of Computer and Information
    • /
    • v.18 no.9
    • /
    • pp.165-175
    • /
    • 2013
  • Though the number of food franchises has been increased these days, there has not been less success for food franchise than failure. One of the several failures is the distrust between franchisor and franchisee factors because the franchisee thought its franchisor does not make its accounts and operations transparent. In order to resolve it, the large business food franchise has used the ERP system, however, small business franchise has run a very simple information system, which is linked to POS system and consists of simple functions to insert or inquire the result of data on sales and order etc to identify the status of both franchisor and franchisee because of financial difficulties and manpower shortage. Thus, small business franchise needs the cost management between them with low cost for efficient business administration. In this study, we suggest the data reference model (DRM) which covers the cost management system and is able to be linked to any POS system. The DRM is a framework whose primary purpose is to enable information linking and reuse across the any POS-based information systems via the classification, structure, model, exchange and management of data.

The Effect of Foreign Direct Investment on Public Health: Empirical Evidence from Bangladesh

  • SIDDIQUE, Fahimul Kader;HASAN, K.B.M. Rajibul;CHOWDHURY, Shanjida;RAHMAN, Mahfujur;RAISA, Tahsin Sharmila;ZAYED, Nurul Mohammad
    • The Journal of Asian Finance, Economics and Business
    • /
    • v.8 no.4
    • /
    • pp.83-91
    • /
    • 2021
  • Health is an outset of psychological, social, financial, and physical state. Several macroeconomic factors are entangled with health and mortality. Infant mortality and life expectancy are two keyguard on demographic research context on last few decades. On the other hand, foreign inflows play an unprecedent role for raising economic circulation and providing more opportunities to build a better society. The study aims to investigate the relationship between foreign direct investment (FDI), economic growth, and Bangladesh's health. This study employs time-series data from 1980 to 2018. Results show, with Auto-regressive Distribute Lag (ARDL) model, that there is significant cointegration among variables. Foreign investment and economic output relate significantly and positively to health. On the contrary, education is quasi-linked with a different sign-on different model. For model validation, pitfalls of time-series multicollinearity, heteroscedasiticy, and autocorrelation are not present. Also, CUSUM and CUSUMSQ tests are validating the model as stable and fit for future prediction. Medical assessment and education need more attention from the government as well as the private sector. FDI can play a catalyst role for improving the health sector, raising opportunity in educating and creating a better lifestyle. In order to optimize foreign investment, the government should implement necessary reforms and policies.

Violations of Information Security Policy in a Financial Firm: The Difference between the Own Employees and Outsourced Contractors (금융회사의 정보보안정책 위반요인에 관한 연구: 내부직원과 외주직원의 차이)

  • Jeong-Ha Lee;Sang-Yong Tom Lee
    • Information Systems Review
    • /
    • v.18 no.4
    • /
    • pp.17-42
    • /
    • 2016
  • Information security incidents caused by authorized insiders are increasing in financial firms, and this increase is particularly increased by outsourced contractors. With the increase in outsourcing in financial firms, outsourced contractors having authorized right has become a threat and could violate an organization's information security policy. This study aims to analyze the differences between own employees and outsourced contractors and to determine the factors affecting the violation of information security policy to mitigate information security incidents. This study examines the factors driving employees to violate information security policy in financial firms based on the theory of planned behavior, general deterrence theory, and information security awareness, and the moderating effects of employee type between own employees and outsourced contractors. We used 363 samples that were collected through both online and offline surveys and conducted partial least square-structural equation modeling and multiple group analysis to determine the differences between own employees (246 samples, 68%) and outsourced contractors (117 samples, 32%). We found that the perceived sanction and information security awareness support the information security policy violation attitude and subjective norm, and the perceived sanction does not support the information security policy behavior control. The moderating effects of employee type in the research model were also supported. According to the t-test result between own employees and outsourced contractors, outsourced contractors' behavior control supported information security violation intention but not subject norms. The academic implications of this study is expected to be the basis for future research on outsourced contractors' violation of information security policy and a guide to develop information security awareness programs for outsourced contractors to control these incidents. Financial firms need to develop an information security awareness program for outsourced contractors to increase the knowledge and understanding of information security policy. Moreover, this program is effective for outsourced contractors.

South-South Collaborations: A Policy Recommendation Model for Sustainable Win-Win Infrastructure Partnerships Based on Sino - Ghana and Nigeria Case.

  • Eshun, Bridget Tawiah Badu;Chan, Albert P.C.;Oteng, Daniel;Antwi-Afari, Maxwell Fordjour
    • International conference on construction engineering and project management
    • /
    • 2022.06a
    • /
    • pp.33-41
    • /
    • 2022
  • Infrastructure procurement has been a major engagement route between China and Africa. This contributes immensely to the gradual infrastructure development seen on the continent. However, maturing discourse purports that these infrastructure collaborations lack intentionality in the continuous development of strategic guidelines and policies for effective implementation despite their uniqueness and criticality. This study proposes that an efficient approach to policy recommendations is through the political and economic analysis (PEA) of these partnerships using public-private partnership (PPP) optics. Unquestionably, these partnerships are representative of the concept of diplomatic transnational public-private partnership (DT-PPP) where infrastructure is procured through the collaboration of public (African governments) and private sector (Chinese state-owned corporations) who provide the managerial, financial, and technical resources for the project implementation. Given the quest for sustainable win-win, this study identifies strategies towards the realization of win-win in the implementation (i.e enablers of win-win) such that fairness and co-benefit, as well as interests, will be achieved. Thus, based on the PEA framework, case scenarios from Ghana and Nigeria using expert interviews identify the criticalities and best practices for the realization of these enablers at the development phase. Findings indicate more effort is required of the public sector (African host countries) in terms of people, structure/institutions, and the implementation processes. Recommendations include improvement of environmental management structures, contract administration procedures, external stakeholders/local community engagement mechanisms, knowledge and technology transfer procedures, and sector-based project operation and maintenance culture and systems. Additionally, actors must have emotional intelligence, good problem-solving abilities, and overall ensure cordial relationships for continued bilateral cooperation.

  • PDF

A Study on the Volatility of Global Stock Markets using Markov Regime Switching model (마코브국면전환모형을 이용한 글로벌 주식시장의 변동성에 대한 연구)

  • Lee, Kyung-Hee;Kim, Kyung-Soo
    • Management & Information Systems Review
    • /
    • v.34 no.3
    • /
    • pp.17-39
    • /
    • 2015
  • This study examined the structural changes and volatility in the global stock markets using a Markov Regime Switching ARCH model developed by the Hamilton and Susmel (1994). Firstly, the US, Italy and Ireland showed that variance in the high volatility regime was more than five times that in the low volatility, while Korea, Russia, India, and Greece exhibited that variance in the high volatility regime was increased more than eight times that in the low. On average, a jump from regime 1 to regime 2 implied roughly three times increased in risk, while the risk during regime 3 was up to almost thirteen times than during regime 1 over the study period. And Korea, the US, India, Italy showed ARCH(1) and ARCH(2) effects, leverage and asymmetric effects. Secondly, 278 days were estimated in the persistence of low volatility regime, indicating that the mean transition probability between volatilities exhibited the highest long-term persistence in Korea. Thirdly, the coefficients appeared to be unstable structural changes and volatility for the stock markets in Chow tests during the Asian, Global and European financial crisis. In addition, 1-Step prediction error tests showed that stock markets were unstable during the Asian crisis of 1997-1998 except for Russia, and the Global crisis of 2007-2008 except for Korea and the European crisis of 2010-2011 except for Korea, the US, Russia and India. N-Step tests exhibited that most of stock markets were unstable during the Asian and Global crisis. There was little change in the Asian crisis in CUSUM tests, while stock markets were stable until the late 2000s except for some countries. Also there were stable and unstable stock markets mixed across countries in CUSUMSQ test during the crises. Fourthly, I confirmed a close relevance of the volatility between Korea and other countries in the stock markets through the likelihood ratio tests. Accordingly, I have identified the episode or events that generated the high volatility in the stock markets for the financial crisis, and for all seven stock markets the significant switch between the volatility regimes implied a considerable change in the market risk. It appeared that the high stock market volatility was related with business recession at the beginning in 1990s. By closely examining the history of political and economical events in the global countries, I found that the results of Lamoureux and Lastrapes (1990) were consistent with those of this paper, indicating there were the structural changes and volatility during the crises and specificly every high volatility regime in SWARCH-L(3,2) student t-model was accompanied by some important policy changes or financial crises in countries or other critical events in the international economy. The sophisticated nonlinear models are needed to further analysis.

  • PDF

A Study on the Volatilities of Inbound Tourists Arrivals using the Multivariate BEKK model (다변량 BEKK모형을 이용한 방한 외래 관광객의 변동성에 대한 연구)

  • Kim, Kyung-Soo;Lee, Kyung-Hee
    • Management & Information Systems Review
    • /
    • v.32 no.3
    • /
    • pp.1-23
    • /
    • 2013
  • In this study, we try to investigate the spillover effects of volatility in international tourists arrivals between Korea and US, Japan, China by using the multivariate BEKK model from January 2005 to January 2013. In the results of this study, after the global financial crisis, we found a cointegration relationship and tourist arrivals of Japan were adjusted to recovery in the short term. Also tourists arrivals from China and Japan showed the long-term elasticity. In the conditional mean equation of a BEKK model, there were the spillover effects. And in the conditional variance equation, ARCH(${\epsilon}^2_t$) coefficients showed a strong influence on the arrivals of their own and the spillover effects and the asymmetric effects on the volatility of China and Japan arrivals. In GARCH(${\sigma}^2_t$) coefficients showed the asymmetric effects and the spillover effects of the conditional volatility among source arrivals. Therefore, we examined the asymmetric reaction of one-way or two-way tourist arrivals between source countries and Korea and the spillover effects related to tourists arrivals of source countries to Korea. We has confirmed a causal relationship between some of the tourists arrivals from source countries to korea.

  • PDF

Optimization of Multiclass Support Vector Machine using Genetic Algorithm: Application to the Prediction of Corporate Credit Rating (유전자 알고리즘을 이용한 다분류 SVM의 최적화: 기업신용등급 예측에의 응용)

  • Ahn, Hyunchul
    • Information Systems Review
    • /
    • v.16 no.3
    • /
    • pp.161-177
    • /
    • 2014
  • Corporate credit rating assessment consists of complicated processes in which various factors describing a company are taken into consideration. Such assessment is known to be very expensive since domain experts should be employed to assess the ratings. As a result, the data-driven corporate credit rating prediction using statistical and artificial intelligence (AI) techniques has received considerable attention from researchers and practitioners. In particular, statistical methods such as multiple discriminant analysis (MDA) and multinomial logistic regression analysis (MLOGIT), and AI methods including case-based reasoning (CBR), artificial neural network (ANN), and multiclass support vector machine (MSVM) have been applied to corporate credit rating.2) Among them, MSVM has recently become popular because of its robustness and high prediction accuracy. In this study, we propose a novel optimized MSVM model, and appy it to corporate credit rating prediction in order to enhance the accuracy. Our model, named 'GAMSVM (Genetic Algorithm-optimized Multiclass Support Vector Machine),' is designed to simultaneously optimize the kernel parameters and the feature subset selection. Prior studies like Lorena and de Carvalho (2008), and Chatterjee (2013) show that proper kernel parameters may improve the performance of MSVMs. Also, the results from the studies such as Shieh and Yang (2008) and Chatterjee (2013) imply that appropriate feature selection may lead to higher prediction accuracy. Based on these prior studies, we propose to apply GAMSVM to corporate credit rating prediction. As a tool for optimizing the kernel parameters and the feature subset selection, we suggest genetic algorithm (GA). GA is known as an efficient and effective search method that attempts to simulate the biological evolution phenomenon. By applying genetic operations such as selection, crossover, and mutation, it is designed to gradually improve the search results. Especially, mutation operator prevents GA from falling into the local optima, thus we can find the globally optimal or near-optimal solution using it. GA has popularly been applied to search optimal parameters or feature subset selections of AI techniques including MSVM. With these reasons, we also adopt GA as an optimization tool. To empirically validate the usefulness of GAMSVM, we applied it to a real-world case of credit rating in Korea. Our application is in bond rating, which is the most frequently studied area of credit rating for specific debt issues or other financial obligations. The experimental dataset was collected from a large credit rating company in South Korea. It contained 39 financial ratios of 1,295 companies in the manufacturing industry, and their credit ratings. Using various statistical methods including the one-way ANOVA and the stepwise MDA, we selected 14 financial ratios as the candidate independent variables. The dependent variable, i.e. credit rating, was labeled as four classes: 1(A1); 2(A2); 3(A3); 4(B and C). 80 percent of total data for each class was used for training, and remaining 20 percent was used for validation. And, to overcome small sample size, we applied five-fold cross validation to our dataset. In order to examine the competitiveness of the proposed model, we also experimented several comparative models including MDA, MLOGIT, CBR, ANN and MSVM. In case of MSVM, we adopted One-Against-One (OAO) and DAGSVM (Directed Acyclic Graph SVM) approaches because they are known to be the most accurate approaches among various MSVM approaches. GAMSVM was implemented using LIBSVM-an open-source software, and Evolver 5.5-a commercial software enables GA. Other comparative models were experimented using various statistical and AI packages such as SPSS for Windows, Neuroshell, and Microsoft Excel VBA (Visual Basic for Applications). Experimental results showed that the proposed model-GAMSVM-outperformed all the competitive models. In addition, the model was found to use less independent variables, but to show higher accuracy. In our experiments, five variables such as X7 (total debt), X9 (sales per employee), X13 (years after founded), X15 (accumulated earning to total asset), and X39 (the index related to the cash flows from operating activity) were found to be the most important factors in predicting the corporate credit ratings. However, the values of the finally selected kernel parameters were found to be almost same among the data subsets. To examine whether the predictive performance of GAMSVM was significantly greater than those of other models, we used the McNemar test. As a result, we found that GAMSVM was better than MDA, MLOGIT, CBR, and ANN at the 1% significance level, and better than OAO and DAGSVM at the 5% significance level.

A Study on the Application of Block Chain Technology on EVMS (EVMS 업무의 블록체인 기술 적용 방안 연구)

  • Kim, Il-Han;Kwon, Sun-Dong
    • Management & Information Systems Review
    • /
    • v.39 no.2
    • /
    • pp.39-60
    • /
    • 2020
  • Block chain technology is one of the core elements for realizing the 4th industrial revolution, and many efforts have been made by government and companies to provide services based on block chain technology. In this study we analyzed the benefits of block chain technology for EVMS and designed EVMS block chain platform with increased data security and work efficiency for project management data, which are important assets in monitoring progress, foreseeing future events, and managing post-completion. We did the case studies on the benefits of block chain technology and then conducted the survey study on security, reliability, and efficiency of block chain technology, targeting 18 block chain experts and project developers. And then, we interviewed EVMS system operator on the compatibility between block chain technology and EVM Systems. The result of the case studies showed that block chain technology can be applied to financial, logistic, medical, and public services to simplify the insurance claim process and to improve reliability by distributing transaction data storage and applying security·encryption features. Also, our research on the characteristics and necessity of block chain technology in EVMS revealed the improvability of security, reliability, and efficiency of management and distribution of EVMS data. Finally, we designed a network model, a block structure, and a consensus algorithm model and combined them to construct a conceptual block chain model for EVM system. This study has the following contribution. First, we reviewed that the block chain technology is suitable for application in the defense sector and proposed a conceptual model. Second, the effect that can be obtained by applying block chain technology to EVMS was derived, and the possibility of improving the existing business process was derived.

Do Innovation and Relative Advantage Affect the Actual Use of FinTech Services?: An Empirical Study using Classical Attitude Theory (핀테크 서비스의 혁신성과 상대적 장점은 실질이용에 영향을 미칠까?: 고전적 태도이론을 이용한 실증 연구)

  • Se Hun Lim
    • Information Systems Review
    • /
    • v.21 no.3
    • /
    • pp.87-110
    • /
    • 2019
  • The Fintech services provide innovation to financial services users using various mobile devices and computers in wired and wireless communication environments. In this study, we develope a theoretical research framework to explain the psychology of Fintech services users based on a cognitive, affective, and conative framework. Using this framework, this study analyzes the relationships between the cognitive characteristics (i.e., innovation, relative advantage, ease of use, and usefulness), emotional characteristic (i.e., attitude), and behavioral characteristic (i.e., actual use) toward Fintech services users. This study conducted an online survey of people who have experienced using Fintech services. And the data of the collected Fintech services users was analyzed using structural equation model software (i.e., SMART PLS 2.0 M3). The results of the empirical analysis show the relationships between innovation, relative advantage, perceived usefulness, perceived ease of use, attitude, and actual use of Fintech service users. The results of this study provide useful information to improve the practical use of Fintech services users in the Internet of Things (IoT) environment.

e-MP service activation research to support SME financial settlement (중소기업간 금융결제를 지원하는 e-MP 서비스 활성화 방안)

  • Yoo, Soonduck;Nam, Gijung
    • Journal of Digital Convergence
    • /
    • v.11 no.12
    • /
    • pp.61-67
    • /
    • 2013
  • The B2B e-commerce assurance system supports e-commerce purchases by Credit Guarantee Fund. This process seeks to replace a variety of current systems, including B2C, the credit card payment method on B2B, 2001 Credit Guarantee Fund and the Bank, logistics, e-MP (Market Place), and Business-to-business e-MP (business-to-business electronic payment settlement system). Over the past 10 years of its operation, the e-MP service (B2B e-commerce electronic payment systems) has contributed much to the growth of SMEs. The development of business-to-business e-commerce transactions systems and limits have provided a stable purchasing platform, improving corporate competitiveness. However. the project-based scale of credit guarantee institutions has limitations. To overcome these limitations, we propose a new model of direct or indirect government support for small business e-MP projects. This new model will support the B2B electronic commerce by allowing it to directly involve guarantee institutions directly in B2B online transactions. Therefore, this study urges government backing of the SME based B2B online business model with e-MP service.