• Journal of the Korea Academia-Industrial cooperation Society
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• v.13 no.3
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• pp.1091-1098
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• 2012

From the perspective of risk management, financial organization that have issued ELW require an efficient hedging methodology due to recently increased trade volume of ELW. This study presents an ELW hedging methodology using artificial neural network(ANN) to minimize hedging costs. The performance of the presented methodology in this study is examined by analysis utilizing the prices and volatilities of underlying assets, risk free interest rates, and maturities and computational experiments show that the proposed method is superior to existing dynamic delta hedging(DDH) technique in terms of hedging costs ranged from 25% to 250%.

• Asian review of World Histories
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• v.2 no.2
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• pp.197-216
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• 2014

This paper examines A. G. Frank's views about 15th-19th Korea (Joseon Dynasty) in his Reorient. A. G. Frank recognized that Korea might have played a great role in the international relations of East Asia, but he did not write systematically about it and he did not treat Korea as an independent player in the history of East Asia. I think the greatest limitation to his re-interpretation of East Asia is in that he depends too much on China's and Japan's perspective. In order to overcome Frank's shortcomings regarding the history of Korea, first I examine what Frank recognized about the Joseon dynasty between 1400 and 1800. Next I compare Joseon's development to that of China and Japan between 1400 and 1800. Frank compared Europe and East Asia (mainly China and Japan) from three aspects of quantities (population, production, productivity, and trade), qualities (science and technology), and mechanism (economic and financial institutions). With this research we insist that Joseon should not be dismissed in 15th-19th East Asia. The reasons are as follows. First, Joseon between 1400 and 1800 had developed economically as much as China and Japan. Second, Joseon had played a great role in connecting China and Japan and had a positive influence on the development of Japan. So we need to reappraise Reorient's view about East Asia. Only when role of Joseon can be correctly estimated, the dynamics and diversity of East Asia can be properly understood.

• The Journal of Asian Finance, Economics and Business
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• v.3 no.4
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• pp.17-24
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• 2016

The purpose of this paper is to understand the underlying dynamics for the share market bubbles in China during the most recent decade. By using the behavioral finance theory and the Shanghai Composite index prices during the periods from 2005 to 2008 and from 2014 to 2015 as the study samples, we find that the large volatilities in the Chinese share market are closely related to information blockage, which impedes share prices to timely respond to economic conditions as well as external shocks and increases (decreases) the demand of shares when the supply is difficult to adjust. Although the Chinese government has introduced a series of programs designed to increase more reliable information to the public, the share market still tends to confront issues of information asymmetry. The potential reason is that the reforms did not change the long-stand situation in China, where individuals or groups related to government bureaucracy who play a dominant role in the society are given priority to gain access and obtain information that benefits. By identifying the main reasons for the large volatilities in the market, policy makers are given advice as to which areas they may need to focus on to improve future market performance.

• Knowledge Management Research
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• v.17 no.2
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• pp.51-73
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• 2016

The organizational ambidexterity has been emerging as the way to gain competitive advantage in turbulent environment. The concept of ambidexterity is simultaneously accomplishing the balance between the activities of exploration and exploitation, and overcoming their conflicting tension. The beneficial merits of ambidexterity has been investigated in innovation, financial performance, strategic management, and etc. Our study focused on the impact of ambidextrous activities on creative performance. Although three ambidextrous modes-structural ambidexterity, contextual ambidexterity, and sequential ambidexterity-have been already acknowledged, scant studies suggested the specific mechanisms to achieve ambidexterity in practice at the operating level. To address the issue we performed the semantic network analysis on the basis of the previous literatures prescribing ambidexterity theory. We took interview with 21 teams to explore behaviors of teams from the ambidextrous perspective, and then interpreted the relationship among words which appeared in the interview. This study found the appropriate mechanism which alleviate tension revealed by exploitation and exploration exist as practical reality. We demonstrated how these ambidextrous mechanisms can be used to generate the creative performance as well as examined various antecedents. These findings would contribute to the more fine-grained understanding of organizational ambidexterity, especially in conjunction with organizational creativity.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.1
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• pp.71-79
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• 2020

Balanced Scorecard (BSC) is one of basic contents of managerial accounting. Balanced Scorecard (BSC) will help the manager to measure and evaluate the operating performance in enterprises. Therefore, providing the theory base as well as in fact with regards to apply with Balanced Scorecard, impact of applying with Balanced Scorecard on the performance of company, from then providing for the managers with the base to promote on applying the Balanced Scorecard in Vietnamese Enterprises aimed to improve the operating performance of enterprises meaningfully and neccessary. However, balanced scorecard in general is a very new content in both theoretical and practice in Viet Nam. The study aims to explore the application with Balanced Scorecard in enterprises according to 4 perspective of Balanced Scorecard in Vietnamese commercial banks. In the dimension of this paper, SPSS 22 was used to collect and analysis data, basing on the results of 109 questionnaires of managers and head of department from Vietnamese commercial banks. Research have shown impact of Balanced Scorecard on the performance of Vietnamese commercial banks. This is the scientific basis for enterprises of Vietnam in general and Vietnamese commercial banks firms in particular have a successful application of balanced scorecard to improve the business performance.

• Knowledge Management Research
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• v.11 no.5
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• pp.59-78
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• 2010

In this paper, we arrange the concept of 'Green' in SCM after literature study of Green SCM and investigate causal relationships between influencing factors, practice level and environmental performance focused on Korean firms empirically and conduct path analysis for hypothesis test using partial least squares regression with bootstrap. Firstly, we divide influencing factors of Green SCM into environmental and organizational factors through the previous studies of innovation diffusion theory and environmental management theory, and then we selected 'uncertainty', 'competitiveness' as the environmental factors and 'top management support', 'perceived benefit', 'training' as the organizational factors. Secondly, we classify practice level of Green SCM into 'internal environmental management', 'green purchasing', 'eco-design'. Finally, we selected 'financial performance', 'environmental performance' as the organizational performance. We conducted a survey on the middle manager of manufacturing companies implementing SCM and an empirical analysis. The results of analysis show that there exist causal relationships between influencing factors, practice level, and environmental performance of Green SCM. We expect that the result of this study will suggest useful information to managers who are responsible for SCM to design and execute Green SCM in strategic perspectives.

• Knowledge Management Research
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• v.14 no.5
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• pp.101-120
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• 2013

The effective management of knowledge has become one of the critical success factors in current organizations. In spite of the extensive use of Knowledge Management System (KMS), useful information and knowledge resources are still transmitted through personal networks among people in organizations. Thus, social network theory which focuses on social relationships in organization can be a fruitful theoretical resource for enhancing Knowledge Management (KM) performances. In this study, we investigate the effects of intra-team network characteristics (i.e., group density and degree of centralization) and external boundary spanning activities on knowledge management performances of a team. We also acknowledge that all group members do not necessarily agree on the team goal and actively disseminate useful information and knowledge. Drawing on the political perspective on KM which emphasizes the role of trust among group members, we examine the mediating effects of team trust between internal/external network characteristics and KM performances. From the data of 220 teams in financial companies in Korea, we found that: (1) group density had positive effects on KM performances (i.e., knowledge creation, sharing, and use). (2) However, centralization was not significantly associated with KM performances. (3) Team trust was found to be an important factor mediating the relationship between intra-team network characteristics, boundary spanning activities, and KM performances. Based on these results, we discuss and suggest possible implications of the findings when designing and implementing KM practices.

• International Commerce and Information Review
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• v.12 no.3
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• pp.267-288
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• 2010

The collapse of housing market bubble in United States had a considerable impact on the world economy. The collapse of housing market bubble in United States generates the global financial crisis at the worldwide level. The housing market bubble question the efficacy of fundamental proposition of orthodox economics based on the rationality of human choice. According to neuroeconomics and neuroscience, emotion and affect play the important role in purchasing the commodity in retails market. On the basis of the neuroeconomics, this study focuses on the role of affect and emotion in the purchase of subprime loan in United States. Robert Schiller suggests that one of the causes of housing market bubble is the contagion effect of human belief in the society. The structure of this paper is as follows. First, this study investigates the mechanism of human brain and role of various neurons to influence the human behavior in the purchase of house in United States, such as Dophamine neuron and mirroring neuron. Second, this study shows the possibility that the mirror neuron might explain the contagion of human belief in housing transaction market. It can be a seed of housing market bubble. Furthermore, this study show the implications of neuroeconomics is suggestive to the negotiation process in commercial policy in United States.

• Journal of Information Technology Applications and Management
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• v.22 no.2
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• pp.201-217
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• 2015

In this paper, we report computational testing result to examine the validity of firm's bankruptcy risk estimation through quantification of supply chain risk. Supply chain risk in this study refers to upstream supply risk and downstream demand risk, To assess the firm's risk affected by supply chain risk, we adopt unit of analysis as industry level. since supply and demand relationships of the firm could be generalized by the industry input-output table and the availability of various valid economic indicators which are chronologically calculated. The research model to estimate firm's risk level is the linear regression model to assess the industry bankruptcy risk estimation of the focal firm's industry with the independent variables which could quantitatively reflect demand and supply risk of the industry. The publicly announced macro economic indicators are selected as the candidate independent variables and validated through empirical testing. To validate our approach, in this paper, we confined our research scope to steel industry sector and its related industry sectors, and implemented the research model. The empirical testing results provide useful insights to further refine the research model as the valid forecasting mechanism to capture firm's future risk estimation more accurately by adopting supply chain industry risk aspect, in conjunction with firm's financial and other managerial factors.

• Journal of the Korea Safety Management & Science
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• v.16 no.3
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• pp.23-34
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• 2014

With a view to analyzing the influential factors and their prioritization in association with the loss from construction disasters, this study has presented relative weighted value and importance for each category of loss by making a systematic classification of costs for non-insured categories (indirect costs) and conducting AHP analysis based on results of a survey of specialists. Through the study, first, I have divided the larger classification of loss factors into human loss factor, financial loss factor, special cost factor, and managerial loss factor, and, second, have presented prioritization of loss categories by allotting scores based on weighted values after calculating weighted value through pairwise comparison of loss levels. Based on these results of the study, we should be able to qualitatively calculate the loss costs that construction disasters inflict on business, promote rational decision-making and efficiency in spending related to a disaster, and compare it against safety investment designed to reduce disaster loss from the perspective of business strategy.