• Journal of the Korea Academia-Industrial cooperation Society
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• v.18 no.4
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• pp.614-623
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• 2017

The purpose of this study is to analyze the impact of the financial performance of regional public hospitals on their efficiency. In addition, the analysis of their efficiency using environmental factors, such as the market share, operating mode, and size of the regional public hospitals, as well as the factors influencing their efficiency, are selected by selecting the input and output factors of the hospitals and some differences were found between them. The DEA index and financial performance of the 31 regional public hospitals were calculated for the three years from 2012 to 2014. ANOVA and hierarchical regression analysis were used. As a result, there was a significant difference in their efficiency according to the environmental factors, such as the city scale of the regional public hospital, the number of hospital beds, and their business performance, productivity, and publicness. The medical profit margin (p<0.05), labor cost investment efficiency (p<0.05) and HHI (p<0.05) were found to affect the efficiency. In order to identify the inefficiencies of the regional public hospitals and increase their efficiency, it is necessary to measure the efficiency of the input resources and to reduce their cost. In addition, if the regional public hospitals were to provide specialized services, such as specialized functions of medical care that would give them a competitive advantage over private hospitals, their operational efficiency would be enhanced and they would be able to fulfill their role as public medical institutions.

• Journal of Digital Convergence
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• v.16 no.5
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• pp.185-197
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• 2018

The purpose of this study is to analyze the Korean ETF market, which is experiencing a rapid increase in the number of stocks, to identify the degree of investment efficiency and to present investment directions. The methodology and procedure are ETF yield, change trends, correlation and regression analysis of the ETFs traded between 2010 and 2018. As a result, the total return of domestic ETFs was 3.51%, which was lower than the KOSPI growth rate and the return on equity ETFs was 4.03%, which was low. Leverage ETF yields were below 3%, which was low. The return on bond and currency ETFs was less than 1%. The most profitable ETFs were index ETFs, followed by domestic and leveraged ETFs. This study has contributed to establishing considerations when purchasing ETFs from the viewpoint of investors. Future research will present the direction of ETF investment more precisely.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.7
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• pp.349-360
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• 2020

The study aims to empirically examine the determinants of bank margins from Pakistan, an emerging South Asian economy. To elucidate the importance of the Pakistani banking sector, secondary data has been used, which was extracted from the annual accounts of twenty-four Pakistani scheduled commercial banks (20 conventional, four full-fledged Islamic) over a sample period of 2006 to 2017. The factors identified in the dealership model and the subsequent empirical developments in the dealership model categorized as bank-specific, diversification, regulatory, and industry concentration are analyzed by applying the most-common linear dynamic panel-data estimator, the Generalized Method of Moments (GMM) estimator, developed by Arellano and Bond (1991). The findings reveal that, among the bank-specific variables, funding cost, credit risk, managerial efficiency, market share, and operating cost are significant predictors of bank margins. For diversification variables employed in the study, both variables including net non-interest income and asset diversity are as well significant predictors of bank margins. It is also found that the market concentration variable proxied by the Herfindahl-Hirschman Index (HHI) is significantly predicting bank margins. Subsequently, one of the regulatory variables, the opportunity cost of holding reserves, and one bank-specific variable, the degree of risk aversion, are insignificant in the model.

• The Transactions of The Korean Institute of Electrical Engineers
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• v.59 no.6
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• pp.1017-1024
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• 2010

Under the Kyoto Protocol many countries have been requested to participate in emissions trading with the assigned $CO_2$ emissions. In this environment, it is inevitable to change the system and market operation in deregulated power systems, and then ensuring safety margin is becoming more important for balancing system security, economy and $CO_2$ emissions. Nowadays, available transfer capability (ATC) is a key index of the remaining capability of a transmission system for future transactions. This paper presents a novel approach to the ATC evaluation with $CO_2$ emissions using multi-objective particle swarm optimization (MOPSO) technique. This technique evolves a multi-objective version of PSO by proposing redefinition of global best and local best individuals in multi-objective optimization domain. The optimal power flow (OPF) method using MOPSO is suggested to solve multi-objective functions including fuel cost and $CO_2$ emissions simultaneously. To show its efficiency and effectiveness, the results of the proposed method is comprehensively realized by a comparison with the ATC which is not including $CO_2$ emissions for the IEEE 30-bus system, and is found to be quite promising.

• Asian Journal of Business Environment
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• v.10 no.2
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• pp.33-41
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• 2020

Purpose: This study assesses the marketing practices and value-added fish products under the Coral Reef Rehabilitation and Management Program (COREMAP) in East Indonesia. Research design, data and methodology: This study gathered qualitative and quantitative data through i) focus group discussions (FGD) with fishers, traders and COREMAP officers, ii) surveys and iii) interviews with fishermen and traders. This study surveyed 714 households (365 in COREMAP and 349 in non-COREMAP) and 33 traders (17 in COREMAP and 16 in non-COREMAP) using structured questionnaires between January and March 2016. This study used Shepherd's Index to estimate the marketing efficiency for each stage of the marketing channel. For value-added fish products, the value is determined by the difference between processed output and the raw product used. Results: Marketing cost in the non-COREMAP area was more efficient than in COREMAP as indicated by lower operational cost and higher selling price. However, no value-added fish products were produced in the non-COREMAP area. This study noted a lower catch in COREMAP area, which implies COREMAP program successfully reduced fishing pressure. Conclusions: This study identified poor infrastructure and the limited market as the major problems in developing value-added fish products in both COREMAP and non-COREMAP area.

• Journal of Environmental Science International
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• v.26 no.9
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• pp.1087-1099
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• 2017

Emergy methodology was used to analyze the biophysical basis of Korean agriculture and assess its sustainablility. Total yearly emergy input into Korean agriculture was $7.72{\times}10^{22}sej/yr$ in 2013. Purchased inputs were the dominant emergy source, accounting for 90.1% ($6.95{\times}10^{22}sej/yr$) of the annual input. This clearly indicates that the Korean agriculture is a modern, industrialized system that depends mostly on market goods and services derived from nonrenewable resources. The monetary equivalent of the total emergy input was 18.9 trillion \/yr, 1.5 times greater than the total production cost from farm expense surveys. Emergy return on investment of Korean agriculture was low, with an emergy yield ratio of 1.11. Korean agriculture appears to exert pressure on the environment as revealed by the high environmental loading ratio of 9.30. With very low emergy input from renewable sources (9.7%) and high environmental pressure, Korean agriculture is not sustainable, with an emergy sustainability index of 0.12. This study suggests that higher use efficiency of and lower dependence on nonrenewable purchased inputs need to be prioritized in an effort to enhance the sustainability of Korean agriculture.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.7
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• pp.525-532
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• 2021

This study examines the association between a firm's business strategy and audit report lags. This study employs 5,072 firm-year observations from 2015 to 2019. Our sample comprises all of the firms listed on the Korea Composite Stock Price Index (KOSPI) market and Korea Securities Dealers Automated Quotation (KOSDAQ). We perform OLS regression analysis to test our hypothesis. The OLS regression analysis was conducted through the SAS and STATA programs. We find that business strategy is positively associated with audit report lags. Especially, we find that defender firms are negatively associated with audit report lags. The findings of this study suggest that prospector-like firms would increase their performance uncertainty as well as audit risk. Therefore, prospector-like firms interfere with the efficient audit procedures of auditors. On the other hand, our findings indicate that defender-like firms would decrease their performance uncertainty as well as an audit risk because they focus on simple product lines and cost-efficiency. For this reason, auditors will be able to carry out the audit procedures much more easily. Our results present that a prospector-like business strategy degrades audit effectiveness as it exacerbates a company's financial risk, willingness to accept uncertainty, and the complexity of organizational structure.

• Journal of the Korean Society for Industrial and Applied Mathematics
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• v.26 no.1
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• pp.23-48
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• 2022

In this paper, we provide predictive models for the market price of fruits, and analyze the performance of each fruit price predictive model. The data used to create the predictive models are fruit price data, weather data, and Korea composite stock price index (KOSPI) data. We collect these data through Open-API for 10 years period from year 2011 to year 2020. Six types of fruit price predictive models are constructed using the LSTM algorithm, a special form of deep learning RNN algorithm, and the performance is measured using the root mean square error. For each model, the data from year 2011 to year 2018 are trained to predict the fruit price in year 2019, and the data from year 2011 to year 2019 are trained to predict the fruit price in year 2020. By comparing the fruit price predictive models of year 2019 and those models of year 2020, the model with excellent efficiency is identified and the best model to provide the service is selected. The model we made will be available in other countries and regions as well.

• Asian-Australasian Journal of Animal Sciences
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• v.16 no.12
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• pp.1705-1710
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• 2003

A small body size of Brown Tsaiya laying duck is desirable to reduce maintenance requirements, so the body weight at 40 weeks of age (BW40) has to be maintained at its current level. Egg weight has to be maintained at around 65 g to meet market requirements. Eggshell strength at 40 weeks of age (ES40) must to be increased in order to maintain a low incidence of broken eggs. Thus, number of eggs laid up to 52 weeks of age (EN52) has to be increased without negative correlated response on ES40. A new linear genetic selection index was used: $I_g=a_0{\times}GEW40\;(g)+a_1{\times}GBW40\;(g)+a_2{\times}GES40\;(kg/cm^2)+a_3{\times}GEN52\;(eggs)$ where GEW40, GBW40, GES40 and GEN52 were the multitrait best linear unbiased prediction (MT-BLUP) animal model predictors of the breeding values respectively of egg weight and body weight at 40 weeks of age (EW40, BW40), ES40 and EN52. The coefficients $a_0$, $a_1$, $a_2$ and $a_3$ were calculated with constraints of 0.0 g, 0.0 g and $0.013kg/cm^2$ for expected genetic gains in EW40, BW40 and ES40 respectively and maximum gain in EN52. Since 1997, the drakes and the ducks were selected according to their own indexes, with this new genetic selection index. From G0 to G4, the average per generation predicted genetic responses in female duck were +0.05 g for EW40, +0.92 g for BW40, $+0.035kg/cm^2$ for ES40 and +2.13 eggs for EN52. Which represented respectively 0.07%, 0.06%, 0.67% and 1.0% of the means of the EW40, BW40, ES40 and EN52. For ES40 and EN52, it represented also respectively 16.1% and 21.6% of the additive genetic standard deviation of these traits. Thevse results indicated that selection of laying Brown Tsaiya by a restricted genetic selection index and with MT-BLUP animal model could be an efficient tool for improving the efficiency of egg production, increasing egg shell strength and egg number while holding egg weight and body weight constants.

• Korea Journal of Hospital Management
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• v.22 no.4
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• pp.33-49
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• 2017

Background: Health care utilizations and costs of the patients with degenerative lumbar spine disease in Korea increased dramatically. We analyzed whether hospital market competition is associated with charges and length of stay for patients with degenerative lumbar spine disease. Methods: We used Medical claims data of 2002 and 2010 from the nationwide representative sample of National Health Insurance Service of Korea. The study subjects were inpatients with degenerative lumbar spine disease (N=24,768) in 2002 and 2010. We employed a multilevel linear mixed model that included patient- and hospital-level variables in hierarchical data. Results: Higher hospital competition was associated with lower charges (${\beta}=57.5$, p<.0001 in 2002; ${\beta}=353.7$, p<.0001 in 2010) and shorter length of stay (${\beta}=0.3$, p<.0001 in 2002; ${\beta}=0.9$, p<.0001 in 2010) in both 2002 and 2010. Compared to 2002, the magnitude of such association became greater in 2010. However, subgroup analyses show that the influence of competition on charges and length of stay differed by hospital size. Conclusions: This study showed that hospital market structure (e.g., hospital competition) affects hospital efficiency (i.e., hospital charges and length of stay). It is necessary to continue to monitor how changing market structure influences hospital outcomes, including more detailed outcomes such as patient satisfaction.