• Journal of Korean Society for Quality Management
• /
• v.20 no.2
• /
• pp.137-142
• /
• 1992

MODAPTS has been widely used for establishing the standard time of manual works because of easy application of the system. However this system was developed based on MTM, winch was one of the low task standard. Also in this system, it usually becomes a cause of error in accuracy that all the simultaneous motions(SIMO) should be analyzed in the sequent motions of two hands. In order to improve the weak points of MODAPTS, the structure of time unit and SIMO of MODAPTS was researched, and HITMAP was developed on the basis of Work Factor System which was one of the high task standard. HITMAP is composed of 26 standard elements and it's time unit is MD(1MD=0.1 second) and MGSRMPS is the motion pattern of HITMAP. In this study HITMAP shows more than 95% of accuracy to WF. Therefor, it is expected that HITMAP can be used for the improvement of productivity and incentive systems.

• The Korean Journal of Financial Management
• /
• v.24 no.2
• /
• pp.81-111
• /
• 2007

The agency relationship between managers and shareholders has the potential to influence decision-making in the firm which in turn potentially impacts on firm characteristics such as value and leverage. Using an agency framework, we examine the relation between ownership structure and capital structure during post-IMF period. We used the balanced panel data for 378 korean listed companies during the 1999-2005. The panel data sets consist of time-series observation on each of 378 cross-sectional units. The results indicate a non-linear U-shaped relation between the level of managerial share ownership and leverage with the relation reaching a minimum at 58.48 per cent of management share ownership. As managerial share ownership increase from a low level, managers have incentive to reduce the debt level for decreasing the financial risk, resulting in a lower lever of debt. However, when corporate managers hold a significant proportion of a firm's shares, managers have incentive to increase the debt level for leverage effects, resulting in a higher lever of debt.

• Korean System Dynamics Review
• /
• v.17 no.1
• /
• pp.5-24
• /
• 2016

This study structurally analyzes major inefficiency of Korea's healthcare delivery system by utilizing the systems thinking. In particular, the phenomenon of patient's concentrated visits to large hospitals, waste of resource due to competitions between clinics and large hopitals, and the structure of oversupply were visualized using the causal loop diagram. The inefficient structure of healthcare delivery system can be understood more clearly by utilizing the major system archetypes of 'success to the successful', 'tragedy of commons', 'escalation' and 'limits to growth'. This study also finds solution from archetypal structure suggested by Wolstenholme. The inefficient status of healthcare delivery system might be explained by the 'out of control' archetype. In conclusion, the public resources such as the national health insurance need to be acknowledged as the entire achievement. All the participants should cooperate with each other in order to improve the inefficiency of the healthcare delivery system. In addition, the arrangement of incentive system for cooperation, acceleration of health information technology, and development of innovative business models make the sustainable healthcare delivery system.

• The Journal of Korean Institute of Electromagnetic Engineering and Science
• /
• v.29 no.3
• /
• pp.200-213
• /
• 2018

Herein, we survey the current state of the recent legal revision of the Citizens Broadband Radio Service, a type of city spectrum-sharing service used in the United States of America, and the introduction of spectrum sharing in the frequency ranging from 3.8~4.2 GHz, based on the United Kingdom framework for spectrum sharing. Specifically, the subjects of topical interest, including the radio station licensing of the spectrum-sharing service system face-to-face multitier user structure, regional frequency allocation, and applicable service types, are discussed. Furthermore, factors to be considered while selecting candidate channels for joint use are suggested, emphasizing their importance for introducing spectrum sharing in Korea and revitalizing the related industrial sectors. In addition, methods of introducing a radio station license system for spectrum sharing, techniques of introducing incentive auctions, and the types of services where spectrum sharing is applicable are discussed.

• The Korean Journal of Financial Management
• /
• v.25 no.1
• /
• pp.177-196
• /
• 2008

The megatrend of convergence in finance, telecommunication, and service industries is being spread over the whole industry. It has generated various kinds of contractual alliance or joint venture. Our paper builds a theoretical model for the profit sharing between two firms that participate in a joint venture. The model shows how the profit sharing rule affects the incentives of the participants, and, eventually, the efficiency. We derive the first-best solution of the profit sharing, where no incentive distortion exists. Then, we compare the incentive-affecting cases with the first best outcome, and assess the efficiency and the fairness of distribution. Our analysis shows that if we properly design the decision-making structure on transfer price and production quantity, we can reach the socially optimal efficiency.

• Journal of Distribution Science
• /
• v.15 no.11
• /
• pp.73-82
• /
• 2017

Purpose - This paper aims to investigate a profit maximizing incentive of foreign traders in distributing the KOSPI 200 Futures. Such an incentive may induce unsophisticated retail traders to suffer loss from speculative trading. Since Korean government increased the entry barriers of the market to protect unsophisticated traders, the market size has been decreasing while the proportion of the contract held by foreign traders has been increasing. These on going changes make the market imperfectly competitive, where a profit maximization incentives of foreign traders are expected to grow. In this paper, we attempt to find any evidence of such behavior, thereby providing implications regarding market policy and market efficiency. Research design, data, and methodology - According to Kyle(1985), an informed trader exploits his/her monopoly power optimally in a dynamic context so that he/she makes positive profit, where he/she could conceal his/her trading utilizing noise trading as camouflage. We apply the KOSPI 200 Futures market to the Kyle's model: foreign traders who take into account the effect of his/her trading to maximize expected profits as an informed trader, retail investors as noise traders, and financial institutions as market makers. To find any evidence of monopolistic behavior, we test the variants of trading volume and price data of the KOSPI 200 Futures over the period of 2009 and 2017. Results - First, we find that the price of the KOSPI 200 Futures are more volatile than the price of underlying asset. Second, we find that monopolistic foreign trader's trading order flows are consistent with exploiting his/her monopoly power to maximize profit. Finally, we find that retail investors' trading order flows are inversely consistent with maximizing profit, that is, uninformed retail investors suffer loss continuously in speculative trading against informed traders. Conclusions - Our results show that the quantity of strategic order flows may have a large effect on the price, therefore, resulting the market inefficiency. The results also imply that, in implementing regulations, the depth of the market must be considered to maintain market liquidity, and suggesting interesting research topics regarding the market structure.

• Journal of the Korea Institute of Information Security & Cryptology
• /
• v.31 no.4
• /
• pp.763-777
• /
• 2021

Information security started as an IT operation process and is now recognized as an important issue of information technology, and each international organization is newly defining the concept. Information security itself is a new combination of IT technologies, a set of technologies and a technology area. As IT outsourcing becomes common in many public sectors, SLAs are introduced to evaluate the level of IT services. In the area of information security, many studies have been conducted on the derivation and selection of SLA performance indicators, but it is difficult to find a way to apply the performance indicators to service level evaluation and performance systems. This thesis conducted a study on the application of a service evaluation system for information security performance indicators based on the public sector and a performance system including compensation regulations. It presents standards and rewards(incentive and penalty) that define expectation and targets of performance indicators that take into account the environment and characteristics of a specific public sector, and defines appropriate SLA costs. It proposes a change plan for the organizational structure for practical SLA application and service level improvement.

• Journal of Korea Technology Innovation Society
• /
• v.10 no.1
• /
• pp.1-21
• /
• 2007

Among numerous policy influencers' and researchers' advices and policy suggestions, there is little opposition to the proposition that technology is essential to the economic development. The role of technology has never been more emphasized than today in Korea as in any other countries. The effects of the government's innovation policy on corporate R&D activities and more broadly the economic welfare of a whole nation are widely recognized with intuitional and empirical evidence. That is, various R&D incentives reduce the marginal cost of a firm's R&D efforts, inducing as much increase of its R&D investment to result in a better chance to acquire target technology. This paper examines the impact of R&D incentives on the technological outcomes by analyzing individual firms' investment behaviors subject to the government's R&D incentive policies. An econometric model of technological outcomes is estimated on a project level with cross-sectional data. "Probit model" is employed for estimations. Special attention was given to the effectiveness of R&D programs by estimating policy impact by types of investment. The data were collected from 928 different R&D projects completed between 1987 and 1993. With the single equation approach, we were able to find that the structure of investment is a far more significant factor in technological outcomes than the total amount of investment. The analysis also shows that the two types of firms' matching investment, in-kind and cash, do not bear a complementary, but a substitutive relations to each other. It also reconfirms the proposition that R&D incentives increase firm's financial investment. Despite many supportive studies emphasizing the cooperation between innovation performers, it is also found that the larger the number of institutions involved in a project, the less likely it leads to a technological success, And meeting the proposed deadlines without postponing is estimated to be a good barometer to predict the outcome of an R&D project. Also the probabilities of success for major variables are represented for policy implications, after calculating marginal effects.

• Management & Information Systems Review
• /
• v.35 no.1
• /
• pp.287-305
• /
• 2016

This study confirms that there is a correlation between managers' incentive-compensation system(introduction of the compensation committee) and corporate governance mechanisms (ownership structure, proportion of outside directors, debt ratio, competitive strength), and analyzes whether firm value is affected by corporate governance mechanisms. The purpose of this paper are empirically tested using 318 firm-year data listed on the KRX from 2001 to 2010 and 2SLS(two-stage least square method) were used for the analysis of the hypotheses. The results of empirical tests are as follows. Firstly, there is no correlation between introduction of the compensation committee and corporate governance mechanisms. In addition, the results show that there is a causal relationship between some variables. Secondly, results from the analysis of the impact of corporate governance mechanisms on firm value, only introduction of the compensation committee and foreign investors ownership were analyzed as a positive impact on the firm value. This result means that most domestic firm don't actively used for managers' incentive-compensation system as a useful control device for improving corporate governance.

• Journal of the Korea Academia-Industrial cooperation Society
• /
• v.20 no.10
• /
• pp.503-514
• /
• 2019

This paper proposes a blockchain-based urban service-operation model that can enhance usability by integrating several data-driven services operated in a city. In the proposed model, in order to encourage the participation of service users, the providers of data and values that can be consumed and utilized by each service acquire incentives, and consumers can use various services by paying the incentives. In this way, the proposed service model provides a structure in which various services can be interworked within the incentive system. The characteristics of blockchain technology can also guarantee service operation and management transparency. In addition, in this paper, by establishing and operating a prototype, the efficiency and operability of the proposed model are verified. As a result, three implemented data-driven urban management services are organically inter-compatible based on the concept of the proposed integrated incentive system. In the future, the proposed service model can be applied as an elemental technology of urban operational and management architectures based on citizen participation using local currency, and by cooperating with local economic revitalization projects of interest to many local governments. It is expected that the expansion of the blockchain technology area will also be possible through convergence with smart city services.