• Title/Summary/Keyword: knowledge-based approach

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An Exploratory Study on the Industry/Market Characteristics of the 'Hyper-Growing Companies' and the Firm Strategies: A Focus on Firms with more than Annual Revenue of 100 Million dollars from 'Inc. the 5,000 Fastest-Growing Private Companies in America' (초고성장 기업의 산업/시장 특성과 전략 선택에 대한 탐색적 연구: 'Inc. the 5,000 Fastest-Growing Private Companies in America' 기업 중 연간 매출액 1억 달러 이상 기업을 중심으로)

  • Lee, Young-Dall;Oh, Soyoung
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.16 no.2
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    • pp.51-78
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    • 2021
  • Followed by 'start-up', the theme of 'scale-up' has been considered as an important agenda in both corporate and policy spheres. In particular, although it is a term commonly used in industry and policy fields, even a conceptual definition has not been achieved from the academic perspective. "Corporate Growth" in the academic aspect and "Business Growth" in the practical management field have different understandings (Achtenhagen et al., 2010). Previous research on corporate growth has not departed from Penrose(1959)'s "Firm as a bundle of resources" and "the role of managers". Based on the theory and background of economics, existing research has mainly examined factors that contribute to firms' growth and their growth patterns. Comparatively, we lack knowledge on the firms' growth with a focus on 'annual revenue growth rate'. In the early stage of the firms, they tend to exhibit a high growth rate as it started with a lower level of annual revenue. However, when the firms reach annual revenue of more than 100 billion KRW, a threshold to be classified as a 'middle-standing enterprise' by Korean standards, they are unlikely to reach a high level of revenue growth rate. In our study, we used our sample of 333 companies (6.7% out of 5,000 'fastest-growing' companies) which reached 15% of the compound annual growth rate in the last three years with more than USD 100 million. It shows that sustaining 'high-growth' above a certain firm size is difficult. The study focuses on firms with annual revenue of more than $100 billion (approximately 120 billion KRW) from the 'Inc. 2020 fast-growing companies 5,000' list. The companies have been categorized into 1) Fast-growing companies (revenue CAGR 15%~40% between 2016 and 2019), 2) Hyper-growing companies (40%~99.9%), and 3) Super-growing (100% or more) with in-depth analysis of each group's characteristics. Also, the relationship between the revenue growth rate, individual company's strategy choice (market orientation, generic strategy, growth strategy, pioneer strategy), industry/market environment, and firm age is investigated with a quantitative approach. Through conducting the study, it aims to provide a reference to the 'Hyper-Growing Model' that combines the paths and factors of growth strategies. For policymakers, our study intends to provide a reference to which factors or environmental variables should be considered for 'optimal effective combinations' to promote firms' growth.

KB-BERT: Training and Application of Korean Pre-trained Language Model in Financial Domain (KB-BERT: 금융 특화 한국어 사전학습 언어모델과 그 응용)

  • Kim, Donggyu;Lee, Dongwook;Park, Jangwon;Oh, Sungwoo;Kwon, Sungjun;Lee, Inyong;Choi, Dongwon
    • Journal of Intelligence and Information Systems
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    • v.28 no.2
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    • pp.191-206
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    • 2022
  • Recently, it is a de-facto approach to utilize a pre-trained language model(PLM) to achieve the state-of-the-art performance for various natural language tasks(called downstream tasks) such as sentiment analysis and question answering. However, similar to any other machine learning method, PLM tends to depend on the data distribution seen during the training phase and shows worse performance on the unseen (Out-of-Distribution) domain. Due to the aforementioned reason, there have been many efforts to develop domain-specified PLM for various fields such as medical and legal industries. In this paper, we discuss the training of a finance domain-specified PLM for the Korean language and its applications. Our finance domain-specified PLM, KB-BERT, is trained on a carefully curated financial corpus that includes domain-specific documents such as financial reports. We provide extensive performance evaluation results on three natural language tasks, topic classification, sentiment analysis, and question answering. Compared to the state-of-the-art Korean PLM models such as KoELECTRA and KLUE-RoBERTa, KB-BERT shows comparable performance on general datasets based on common corpora like Wikipedia and news articles. Moreover, KB-BERT outperforms compared models on finance domain datasets that require finance-specific knowledge to solve given problems.

Transfer Learning using Multiple ConvNet Layers Activation Features with Principal Component Analysis for Image Classification (전이학습 기반 다중 컨볼류션 신경망 레이어의 활성화 특징과 주성분 분석을 이용한 이미지 분류 방법)

  • Byambajav, Batkhuu;Alikhanov, Jumabek;Fang, Yang;Ko, Seunghyun;Jo, Geun Sik
    • Journal of Intelligence and Information Systems
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    • v.24 no.1
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    • pp.205-225
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    • 2018
  • Convolutional Neural Network (ConvNet) is one class of the powerful Deep Neural Network that can analyze and learn hierarchies of visual features. Originally, first neural network (Neocognitron) was introduced in the 80s. At that time, the neural network was not broadly used in both industry and academic field by cause of large-scale dataset shortage and low computational power. However, after a few decades later in 2012, Krizhevsky made a breakthrough on ILSVRC-12 visual recognition competition using Convolutional Neural Network. That breakthrough revived people interest in the neural network. The success of Convolutional Neural Network is achieved with two main factors. First of them is the emergence of advanced hardware (GPUs) for sufficient parallel computation. Second is the availability of large-scale datasets such as ImageNet (ILSVRC) dataset for training. Unfortunately, many new domains are bottlenecked by these factors. For most domains, it is difficult and requires lots of effort to gather large-scale dataset to train a ConvNet. Moreover, even if we have a large-scale dataset, training ConvNet from scratch is required expensive resource and time-consuming. These two obstacles can be solved by using transfer learning. Transfer learning is a method for transferring the knowledge from a source domain to new domain. There are two major Transfer learning cases. First one is ConvNet as fixed feature extractor, and the second one is Fine-tune the ConvNet on a new dataset. In the first case, using pre-trained ConvNet (such as on ImageNet) to compute feed-forward activations of the image into the ConvNet and extract activation features from specific layers. In the second case, replacing and retraining the ConvNet classifier on the new dataset, then fine-tune the weights of the pre-trained network with the backpropagation. In this paper, we focus on using multiple ConvNet layers as a fixed feature extractor only. However, applying features with high dimensional complexity that is directly extracted from multiple ConvNet layers is still a challenging problem. We observe that features extracted from multiple ConvNet layers address the different characteristics of the image which means better representation could be obtained by finding the optimal combination of multiple ConvNet layers. Based on that observation, we propose to employ multiple ConvNet layer representations for transfer learning instead of a single ConvNet layer representation. Overall, our primary pipeline has three steps. Firstly, images from target task are given as input to ConvNet, then that image will be feed-forwarded into pre-trained AlexNet, and the activation features from three fully connected convolutional layers are extracted. Secondly, activation features of three ConvNet layers are concatenated to obtain multiple ConvNet layers representation because it will gain more information about an image. When three fully connected layer features concatenated, the occurring image representation would have 9192 (4096+4096+1000) dimension features. However, features extracted from multiple ConvNet layers are redundant and noisy since they are extracted from the same ConvNet. Thus, a third step, we will use Principal Component Analysis (PCA) to select salient features before the training phase. When salient features are obtained, the classifier can classify image more accurately, and the performance of transfer learning can be improved. To evaluate proposed method, experiments are conducted in three standard datasets (Caltech-256, VOC07, and SUN397) to compare multiple ConvNet layer representations against single ConvNet layer representation by using PCA for feature selection and dimension reduction. Our experiments demonstrated the importance of feature selection for multiple ConvNet layer representation. Moreover, our proposed approach achieved 75.6% accuracy compared to 73.9% accuracy achieved by FC7 layer on the Caltech-256 dataset, 73.1% accuracy compared to 69.2% accuracy achieved by FC8 layer on the VOC07 dataset, 52.2% accuracy compared to 48.7% accuracy achieved by FC7 layer on the SUN397 dataset. We also showed that our proposed approach achieved superior performance, 2.8%, 2.1% and 3.1% accuracy improvement on Caltech-256, VOC07, and SUN397 dataset respectively compare to existing work.

A Study of Intangible Cultural Heritage Communities through a Social Network Analysis - Focused on the Item of Jeongseon Arirang - (소셜 네트워크 분석을 통한 무형문화유산 공동체 지식연결망 연구 - 정선아리랑을 중심으로 -)

  • Oh, Jung-shim
    • Korean Journal of Heritage: History & Science
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    • v.52 no.3
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    • pp.172-187
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    • 2019
  • Knowledge of intangible cultural heritage is usually disseminated through word-of-mouth and actions rather than written records. Thus, people assemble to teach others about it and form communities. Accordingly, to understand and spread information about intangible cultural heritage properly, it is necessary to understand not only their attributes but also a community's relational characteristics. Community members include specialized transmitters who work under the auspices of institutions, and general transmitters who enjoy intangible cultural heritage in their daily lives. They converse about intangible cultural heritage in close relationships. However, to date, research has focused only on professionals. Thus, this study focused on the roles of general transmitters of intangible cultural heritage information by investigating intangible cultural heritage communities centering around Jeongseon Arirang; a social network analysis was performed. Regarding the research objectives presented in the introduction, the main findings of the study are summarized as follows. First, there were 197 links between 74 members of the Jeongseon Arirang Transmission Community. One individual had connections with 2.7 persons on average, and all were connected through two steps in the community. However, the density and the clustering coefficient were low, 0.036 and 0.32, respectively; therefore, the cohesiveness of this community was low, and the relationships between the members were not strong. Second, 'Young-ran Yu', 'Nam-gi Kim' and 'Gil-ja Kim' were found to be the prominent figures of the Jeongseon Arirang Transmission Community, and the central structure of the network was concentrated around these three individuals. Being located in the central structure of the network indicates that a person is popular and ranked high. Also, it means that a person has an advantage in terms of the speed and quantity of the acquisition of information and resources, and is in a relatively superior position in terms of bargaining power. Third, to understand the replaceability of the roles of Young-ran Yu, Nam-gi Kim, and Gil-ja Kim, who were found to be the major figures through an analysis of the central structure, structural equivalence was profiled. The results of the analysis showed that the positions and roles of Young-ran Yu, Nam-gi Kim, and Gil-ja Kim were unrivaled and irreplaceable in the Jeongseon Arirang Transmission Community. However, considering that these three members were in their 60s and 70s, it seemed that it would be necessary to prepare measures for the smooth maintenance and operation of the community. Fourth, to examine the subgroup hidden in the network of the Jeongseon Arirang Transmission Community, an analysis of communities was conducted. A community refers to a subgroup clearly differentiated based on modularity. The results of the analysis identified the existence of four communities. Furthermore, the results of an analysis of the central structure showed that the communities were formed and centered around Young-ran Yu, Hyung-jo Kim, Nam-gi Kim, and Gil-ja Kim. Most of the transmission TAs recommended by those members, students who completed a course, transmission scholarship holders, and the general members taught in the transmission classes of the Jeongseon Arirang Preservation Society were included as members of the communities. Through these findings, it was discovered that it is possible to maintain the transmission genealogy, making an exchange with the general members by employing the present method for the transmission of Jeongseon Arirang, the joint transmission method. It is worth paying attention to the joint transmission method as it overcomes the demerits of the existing closed one-on-one apprentice method and provides members with an opportunity to learn their masters' various singing styles. This study is significant for the following reasons: First, by collecting and examining data using a social network analysis method, this study analyzed phenomena that had been difficult to investigate using existing statistical analyses. Second, by adopting a different approach to the previous method in which the genealogy was understood, looking at oral data, this study analyzed the structures of the transmitters' relationships with objective and quantitative data. Third, this study visualized and presented the abstract structures of the relationships among the transmitters of intangible cultural heritage information on a 2D spring map. The results of this study can be utilized as a baseline for the development of community-centered policies for the protection of intangible cultural heritage specified in the UNESCO Convention for the Safeguarding of Intangible Cultural Heritage. To achieve this, it would be necessary to supplement this study through case studies and follow-up studies on more aspects in the future.

An Intervention Study on Integration of Family Planning and Maternal/Infant Care Services in Rural Korea (가족계획과 모자보건 통합을 위한 조산원의 투입효과 분석 -서산지역의 개입연구 평가보고-)

  • Bang, Sook;Han, Seung-Hyun;Lee, Chung-Ja;Ahn, Moon-Young;Lee, In-Sook;Kim, Eun-Shil;Kim, Chong-Ho
    • Journal of Preventive Medicine and Public Health
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    • v.20 no.1 s.21
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    • pp.165-203
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    • 1987
  • This project was a service-cum-research effort with a quasi-experimental study design to examine the health benefits of an integrated Family Planning (FP)/Maternal & Child health (MCH) Service approach that provides crucial factors missing in the present on-going programs. The specific objectives were: 1) To test the effectiveness of trained nurse/midwives (MW) assigned as change agents in the Health Sub-Center (HSC) to bring about the changes in the eight FP/MCH indicators, namely; (i)FP/MCH contacts between field workers and their clients (ii) the use of effective FP methods, (iii) the inter-birth interval and/or open interval, (iv) prenatal care by medically qualified personnel, (v) medically supervised deliveries, (vi) the rate of induced abortion, (vii) maternal and infant morbidity, and (viii) preinatal & infant mortality. 2) To measure the integrative linkage (contacts) between MW & HSC workers and between HSC and clients. 3) To examine the organizational or administrative factors influencing integrative linkage between health workers. Study design; The above objectives called for quasi-experimental design setting up a study and control area with and without a midwife. An active intervention program (FP/MCH minimum 'package' program) was conducted for a 2 year period from June 1982-July 1984 in Seosan County and 'before and after' surveys were conducted to measure the change. Service input; This study was undertaken by the Soonchunhyang University in collaboration with WHO. After a baseline survery in 1981, trained nurses/midwives were introduced into two health sub-centers in a rural setting (Seosan county) for a 2 year period from 1982 to 1984. A major service input was the establishment of midwifery services in the existing health delivery system with emphasis on nurse/midwife's role as the link between health workers (nurse aids) and village health workers, and the referral of risk patients to the private physician (OBGY specialist). An evaluation survey was made in August 1984 to assess the effectiveness of this alternative integrated approach in the study areas in comparison with the control area which had normal government services. Method of evaluation; a. In this study, the primary objective was first to examine to what extent the FP/MCH package program brought about changes in the pre-determined eight indicators (outcome and impact measures) and the following relationship was first analyzed; b. Nevertheless, this project did not automatically accept the assumption that if two or more activities were integrated, the results would automatically be better than a non-integrated or categorical program. There is a need to assess the 'integration process' itself within the package program. The process of integration was measured in terms of interactive linkages, or the quantity & quality of contacts between workers & clients and among workers. Intergrative linkages were hypothesized to be influenced by organizational factors at the HSC clinic level including HSC goals, sltrurture, authority, leadership style, resources, and personal characteristics of HSC staff. The extent or degree of integration, as measured by the intensity of integrative linkages, was in turn presumed to influence programme performance. Thus as indicated diagrammatically below, organizational factors constituted the independent variables, integration as the intervening variable and programme performance with respect to family planning and health services as the dependent variable: Concerning organizational factors, however, due to the limited number of HSCs (2 in the study area and 3 in the control area), they were studied by participatory observation of an anthropologist who was independent of the project. In this observation, we examined whether the assumed integration process actually occurred or not. If not, what were the constraints in producing an effective integration process. Summary of Findings; A) Program effects and impact 1. Effects on FP use: During this 2 year action period, FP acceptance increased from 58% in 1981 to 78% in 1984 in both the study and control areas. This increase in both areas was mainly due to the new family planning campaign driven by the Government for the same study period. Therefore, there was no increment of FP acceptance rate due to additional input of MW to the on-going FP program. But in the study area, quality aspects of FP were somewhat improved, having a better continuation rate of IUDs & pills and more use of effective Contraceptive methods in comparison with the control area. 2. Effects of use of MCH services: Between the study and control areas, however, there was a significant difference in maternal and child health care. For example, the coverage of prenatal care was increased from 53% for 1981 birth cohort to 75% for 1984 birth cohort in the study area. In the control area, the same increased from 41% (1981) to 65% (1984). It is noteworthy that almost two thirds of the recent birth cohort received prenatal care even in the control area, indicating that there is a growing demand of MCH care as the size of family norm becomes smaller 3. There has been a substantive increase in delivery care by medical professions in the study area, with an annual increase rate of 10% due to midwives input in the study areas. The project had about two times greater effect on postnatal care (68% vs. 33%) at delivery care(45.2% vs. 26.1%). 4. The study area had better reproductive efficiency (wanted pregancies with FP practice & healthy live births survived by one year old) than the control area, especially among women under 30 (14.1% vs. 9.6%). The proportion of women who preferred the 1st trimester for their first prenatal care rose significantly in the study area as compared to the control area (24% vs 13%). B) Effects on Interactive Linkage 1. This project made a contribution in making several useful steps in the direction of service integration, namely; i) The health workers have become familiar with procedures on how to work together with each other (especially with a midwife) in carrying out their work in FP/MCH and, ii) The health workers have gotten a feeling of the usefulness of family health records (statistical integration) in identifying targets in their own work and their usefulness in caring for family health. 2. On the other hand, because of a lack of required organizational factors, complete linkage was not obtained as the project intended. i) In regards to the government health worker's activities in terms of home visiting there was not much difference between the study & control areas though the MW did more home visiting than Government health workers. ii) In assessing the service performance of MW & health workers, the midwives balanced their workload between 40% FP, 40% MCH & 20% other activities (mainly immunization). However, $85{\sim}90%$ of the services provided by the health workers were other than FP/MCH, mainly for immunizations such as the encephalitis campaign. In the control area, a similar pattern was observed. Over 75% of their service was other than FP/MCH. Therefore, the pattern shows the health workers are a long way from becoming multipurpose workers even though the government is pushing in this direction. 3. Villagers were much more likely to visit the health sub-center clinic in the study area than in the control area (58% vs.31%) and for more combined care (45% vs.23%). C) Organization factors (admistrative integrative issues) 1. When MW (new workers with higher qualification) were introduced to HSC, it was noted that there were conflicts between the existing HSC workers (Nurse aids with less qualification than MW) and the MW for the beginning period of the project. The cause of the conflict was studied by an anthropologist and it was pointed out that these functional integration problems stemmed from the structural inadequacies of the health subcenter organization as indicated below; i) There is still no general consensus about the objectives and goals of the project between the project staff and the existing health workers. ii) There is no formal linkage between the responsibility of each member's job in the health sub-center. iii) There is still little chance for midwives to play a catalytic role or to establish communicative networks between workers in order to link various knowledge and skills to provide better FP/MCH services in the health sub-center. 2. Based on the above findings the project recommended to the County Chief (who has power to control the administrative staff and the technical staff in his county) the following ; i) In order to solve the conflicts between the individual roles and functions in performing health care activities, there must be goals agreed upon by both. ii) The health sub·center must function as an autonomous organization to undertake the integration health project. In order to do that, it is necessary to support administrative considerations, and to establish a communication system for supervision and to control of the health sub-centers. iii) The administrative organization, tentatively, must be organized to bind the health worker's midwive's and director's jobs by an organic relationship in order to achieve the integrative system under the leadership of health sub-center director. After submitting this observation report, there has been better understanding from frequent meetings & communication between HW/MW in FP/MCH work as the program developed. Lessons learned from the Seosan Project (on issues of FP/MCH integration in Korea); 1) A majority or about 80% of the couples are now practicing FP. As indicated by the study, there is a growing demand from clients for the health system to provide more MCH services than FP in order to maintain the achieved small size of family through FP practice. It is fortunate to see that the government is now formulating a MCH policy for the year 2,000 and revising MCH laws and regulations to emphasize more MCH care for achieving a small size family through family planning practice. 2) Goal consensus in FP/MCH shouBd be made among the health workers It administrators, especially to emphasize the need of care of 'wanted' child. But there is a long way to go to realize the 'real' integration of FP into MCH in Korea, unless there is a structural integration FP/MCH because a categorical FP is still first priority to reduce the rate of population growth for economic reasons but not yet for health/welfare reasons in practice. 3) There should be more financial allocation: (i) a midwife should be made available to help to promote the MCH program and coordinate services, (in) there should be a health sub·center director who can provide leadership training for managing the integrated program. There is a need for 'organizational support', if the decision of integration is made to obtain benefit from both FP & MCH. In other words, costs should be paid equally to both FP/MCH. The integration slogan itself, without the commitment of paying such costs, is powerless to advocate it. 4) Need of management training for middle level health personnel is more acute as the Government has already constructed 90 MCH centers attached to the County Health Center but without adequate manpower, facilities, and guidelines for integrating the work of both FP and MCH. 5) The local government still considers these MCH centers only as delivery centers to take care only of those visiting maternity cases. The MCH center should be a center for the managment of all pregnancies occurring in the community and the promotion of FP with a systematic and effective linkage of resources available in the county such as i.e. Village Health Worker, Community Health Practitioner, Health Sub-center Physicians & Health workers, Doctors and Midwives in MCH center, OBGY Specialists in clinics & hospitals as practiced by the Seosan project at primary health care level.

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