• Proceedings of the Society of Korea Industrial and System Engineering Conference
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• 2002.05a
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• pp.113-118
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• 2002

Research and Development(R&D) was once considered to be a unique, creative and unstructured process that was difficult, if not impossible, to manage and control. R&D decisions impact the entire enterprise. Therefore, decisions must not be based solely on R&D's perception of what is important or worthwhile. R&D contributions are difficult to measure separately from other functional organizations such as manufacturing and marketing. While some firms are attempting to overcome perceived limitations in traditional accounting-based performance measures using ROI, EVA, others are embracing the use of non-financial measures for decision making and performance evaluation. In particular, many firms are implementing 'Balanced Scorecard(BSC)' systems that supplement traditional accounting measures with non-financial measures focused on at least three other perspectives-customers, internal business processes, and learning and growth. AHP is a popular multi-attribute decision making model that allows for the development of importance rankings. The AHP has been applied in a wide variety of practical settings to model complex decision problems. The former, determine Perspectives and the Key Performance indicator(KPI) through the former research, the latter compose the questionnaire for determine the weight of perspectives and KPIs. And then, make a survey with researchers about 4 perspectives and 18 KPIs. The results will be simulate with Expert Choice 2000 for determine the weights. This results helps establish the firm's business strategy and technology strategy The firm should establish the business strategy to consider market position, business growth potential, and technological capabilities.

• Journal of Korean Society for Quality Management
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• v.42 no.3
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• pp.425-444
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• 2014

Purpose: This study aims to overcome the problem of private education market environment which is polarized into commercialized large private education institutions and small and medium sized private education institutions in a poor business environment, and develop systematic performance measurement model applicable for small and medium sized private education institutions. Methods: To develop the BSC which measures financial and non-financial indicator in a balanced manner and introduce the BSC into private education institutions that contain conflicting goals "EDUCATION" and "PROFIT". In particular, Utilizing the methodology of AHP, the priority of strategies and execution assignments are derived. Results: BSC model was developed and introduced by cooperating with executives of the private education institution. Moreover, the study permits to achieve the strategy, enterprise-wide vision and mission by deriving strategy map and applying it to the private education institution. To measure the performance of BSC model instruction, KPI corresponding to the strategic objectives of each perspective was derived. Conclusion: BSC model generally introduces to large-sized companies and public institutions. In this study, BSC model is developed by focusing on small and medium sized private institution. Furthermore, this study is more than simple model development, it makes a connection with achievement of strategic objectives, enterprise-wide vision and mission through strategy map and strategy execution method. Through the developed BSC model and strategy execution method, utilization plan in practice and customized model for private education institutions coexisting profit and non-profit objectives were developed, and academic implications were presented.

• Journal of the Korean Home Economics Association
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• v.47 no.9
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• pp.15-26
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• 2009

The main purpose of this study was to speculate how psychological state of adolescent students has changed their school uniform style. For the study, the distinctive characteristics during adolescence stage were theoretically examined. Through the examination, this study found four interests in fashions and school uniforms. For the purpose, this study conducted interviews with grade 2 students in a total of six coeducation secondary schools in Seoul, Gyeongki and Gwangju using a questionnaire. The survey period ranged from December 15 2008 to December 24 2008 and a total of 1196 were used for a final analysis. This study extracted factors as Principal Components Analysis and used Varimax for orthogonal rotation analysis. To measure confidence, it used Cronbach's a test to item internal consistency. For data analysis, it used SPSS WIN 12.0 and for hypothesis analysis, frequency analysis, cross analysis, independent t-test, and one-way ANOVA were conducted. For posterior analysis, it used Sheffe test. The results are as follows: First, the interests in fashion and school uniforms differed depending on their own tastes, but these interests were more influenced by environment around school. Secondly, the boy subjects were more aggressive towards repairs their uniforms than the girls, which suggested that boys had stronger desire to show themselves to others and more satisfaction from repairs their uniforms than the girls. Based on the results, this study concluded as follows: We should pay attention to preventing deformation in original design of school uniforms while expanding options to have variable designs or to change detailed part of design. So, there will be no additional uniform mending expense and financial loss to parents, and students will be more satisfied with their school uniforms.

• The Journal of Industrial Distribution & Business
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• v.10 no.12
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• pp.35-42
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• 2019

Purpose : This study examines The impact of human resource investment in internal control on stock price crash risk. Effective internal control ensures that information provided is complete and accurate, financial statements are reliable. By overseeing management, internal control systems can reduce agency costs between management and outside parties. In Korea, firms have to disclose information about internal control systems. The working experience of human resources in internal control systems is also provided for interested parties. If a firm hires more experienced internal control personnel, it can better facilitate the disclosure of information. Prior studies reported that information asymmetry between managers and investors increases future stock price crash risk. Therefore, the longer working experience internal control personnel have, the lower probability stock crashes have. Research design, data and methodology : This study analyzed the association between the working experience of internal control personnel and crash risk using regression analysis on KOSPI listed companies for fiscal years 2016 through 2017. The sample consists of 1,034 firm-years of non-financial firms whose fiscal year end on December 31. Career spanning data of internal control personnel was collected from internal control reports. The professionalism(IC_EXP) was measured as the logarithm of the average working experience of internal control personnel in months. Negative conditional skewness(NSKEW) and down-to-up volatility (DUVOL) are used to measure firm-specific crash risk. Both measures are based on firm-specific weekly returns derived from the expanded market model. Results : We find that work experience in internal control environment is negatively related to stock price crashes. Specifically, skewness(NSKEW) and volatility (DUVOL) are reduced when firms have longer tenure of human resources in internal control division. The results imply that firms with experienced internal control personnel are less likely to experience stock price crashes. Conclusions : Stock price crashes occur when investors realize that stock prices have been inflated due to information asymmetry. There is a learning effect when internal control processes are done repetitively. Thus, firms with more experienced internal control personnel could manage their internal control more effectively. The results of this study suggest that firms could decrease information asymmetry by investing in human resources for their internal control system.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.15 no.6
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• pp.3534-3547
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• 2014

Although there are many positive sides of the current fee-for-service payment schedule, there is a strong necessity to control the rapidly increasing national healthcare expenditure. The global budget is often mentioned as one prominent alternative for solutions. In this article, both microscopic and macroscopic approaches are considered to set the hospital medical expenditure budget. In a macroscopic aspect, the SGR model, which considers the financial limit of the healthcare system, is used to set the next year target budget. In addition, the DEA model is used to measure the inefficiency and cost recognition. In this article, the national medical target expenditure is distributed to an individual hospital based on the level of efficiency. By combining the SGR and DEA, it will be possible to set a real world applicable target medical expenditure budget model.

• The Journal of Industrial Distribution & Business
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• v.10 no.6
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• pp.51-58
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• 2019

Purpose - Prior studies reported that the opacity of information caused stock price crash. If managers fail to disclose unfavorable information about the firm over a long period of time, the stock price is overvalued compared to its original value. If the accumulated information reaches a critical point and spreads quickly to the market, the stock price plunges. Information management by management's disclosure policy can cause information uncertainty, which will lead to a plunge in stock prices in the future. Thus, this study aims at examining the impact of disclosure quality on crash risk by focusing on the unfaithful disclosure firms. Research design, data, and methodology - This study covers firms listed on KOSPI and KOSDAQ from 2004 to 2013. Firms excluded from the sample are non-December firms, capital-eroding firms, and financial firms. The financial data used in the research was extracted from the KIS-Value and TS2000 database. Unfaithful disclosure firm designation data was collected from the Korea Exchange's electronic disclosure system (kind.krx.co.kr). Stock crash is measured as a dummy variable that equals one if a firm experiences at least one crash week over the fiscal year, and zero otherwise. Results - Empirical results as to the relation between unfaithful disclosure corporation designation and stock price crashes are as follows: There was a significant positive association between unfaithful disclosure corporation designation and stock price crash. This result supports the hypothesis that firms that have previously exhibited unfaithful disclosure behavior are more likely to suffer stock price plunges due to information asymmetry. Second, stock price crashes due to unfaithful disclosures are more likely to occur in Chaebol firms. Conclusions - While previous studies used estimates as a proxy for information opacity, this study used an objective measure such as unfaithful disclosure corporation designation. The designation by Korea Exchange is an objective evidence that the firm attempted to conceal and distort information in the previous year. The results of this study suggest that capital market investors need to investigate firms' disclosure behaviors.

• The Journal of the Korea Contents Association
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• v.18 no.3
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• pp.390-398
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• 2018

The purpose of this study is to analyze the actual operation status of the financial performance target management system which is currently operated and to provide improvement plan based on this analysis. For this purpose, I examined the performance management system and performance indicators of the Ministry of Justice, which is one of the criminal justice administration agencies. Although the overall appropriateness of the current performance management system is considered to be somewhat appropriate as a whole, there is a negative perception about the performance measurement method for measuring the achievement of the performance target, and the evaluation of the performance of the performance target is relatively low. In addition, there were many criticisms about the establishment and measurement of the Ministry of Justice's overall performance indicators, such as the tendency to select indicators that are easy to achieve and easy to measure. In order to remedy these problems, it was highly suggested that the importance of indicators should be more emphasized and expanded so as to set up high-performance indicators. Based on the results of this analysis, some suggestions for policy implications and some alternatives for improvement of financial performance target management system were suggested.

• YAKHAK HOEJI
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• v.49 no.4
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• pp.255-259
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• 2005

Financial standing of National Health Insurance has been experiencing a grave deterioration during the last 4-5 years, and the yearly amount paid by the insurance for drug expense rose up to 4 trillion won recently. Furthermore, the ratio of drug expenses in the total expenditure of the insurance reached about $25\%$, showing the tendency to be levelled off. As a measure to improve the financial deterioration of the insurance and to encourage generic substitution among the health professionals, we compared pharmacokinetic parameters of brand name drug (Lamisil) and generic drug (Muzonal) containing terbinafine HCl in healthy volunteers. The area under the curve (AUC) of the two drugs showed $2220.4\pm784.7\;and\;2143.1\pm861.6hr{\cdot}ng/ml$ in the corresponding order and no statistically significant difference was identified. The peak concentration $(C_{max})$ of the generic drug demonstrated $566.6\pm246.2 ng/ml$ compared to $550.8\pm204.0$ of brand name drug, which was not significantly different either. Time to reach peak concentration showed about 6 minutes difference between the drugs, which has no clinical significance to the treatment of dermatomycosis and dermatophytosis.

• The Korean Journal of Applied Statistics
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• v.31 no.5
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• pp.667-675
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• 2018

When a financial time series consists of daily (closing) returns, traditional volatility models such as autoregressive conditional heteroskedasticity (ARCH) and generalized ARCH (GARCH) are useful to figure out daily volatilities. With high frequency returns in a day, one may adopt various multivariate GARCH techniques (MGARCH) (Tsay, Multivariate Time Series Analysis With R and Financial Application, John Wiley, 2014) to obtain intraday volatilities as long as the high frequency is moderate. When it comes to the ultra high frequency (UHF) case (e.g., one minute prices are available everyday), a new model needs to be developed to suit UHF time series in order to figure out continuous time intraday-volatilities. Aue et al. (Journal of Time Series Analysis, 38, 3-21; 2017) proposed functional GARCH (fGARCH) to analyze functional volatilities based on UHF data. This article introduces fGARCH to the readers and illustrates how to estimate fGARCH equations using UHF data of KOSPI and Hyundai motor company.

• Korean Business Review
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• v.2
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• pp.171-204
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• 1989

The adaptive accounting control system can be regarded as an realistic control system which can adapt itself to uncertain enviromental changes. It has characters that can measure the extend to which we attain our goals and give intelligence, which is essential to planning for the future and for decision making. The budget should present the aim of the compilation of the budget and synthesize the limit through the systematic plan about the utilization of resources, because is a financial plan that is used as estimate of future management operations and as a control of it. If we would like to make good use of this business budget as a tool for planning, we should try to opimize all over the business by relating business operation as far as the effective use of the economic resources in business and the supplying of it are concerned and financial budgets to the responsibility unit center. As this paper is about the budgetary management pattern of marketing based on the adaptive accounting control system, I shall begin with a description of the feature and role of responsible accounting system in management accounting. I shall also deal with the Ex ante accounting system and the Ex post optimum accounting system which are essential to the control stage of business budgeting. And finally, accounting to the control process of adaptive accounting system that fit in with the reality, I shall design a budgetary management pattern of marking section. I wish this paper would be helpful to the activity of budgetary management. A budget is an important step of diverging point. Consequently, when we set up a budgetary pattern based on the adaptive accounting system as far as the control accounting is concerned. I believe that the step of responsible accounting will be a more elaborate and scientific step of management.