• Journal of the Korean Statistical Society
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• v.35 no.2
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• pp.115-142
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• 2006

This paper studies the problem of option hedging when the underlying asset price process is a compound Poisson process. By adopting an asymptotic approach to let the security price converge to a continuous process, we find a closed-form hedging strategy that improves the classical Black-Scholes hedging strategy in a quadratic sense. We first show that the scaled Black-scholes hedging error has a limit in law, and that limit is decomposed into a part that can be traded away and a part that is purely unreplicable. The Black-Scholes hedging strategy is then modified by adding the replicable part of its hedging error and by adding the mean-variance hedging strategy to the nonreplicable part. Some results of simulation experiment s are also provided.

• Journal of East Asia Management
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• v.4 no.1
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• pp.79-98
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• 2023

This study investigates the relationship between firm's cost behavior and the managerial strategic deviation. Firms which intend to reduce uncertainty and improve viability for future performance tend to implement managerial strategies similar to peer firms in the same industry. Since the managerial decisions affect firm's cost behavior, the strategic deviation including operations different from others would be associated with cost behavior distinct from peer firms. On firms listed on Korean Security Exchange and KOSDAQ markets from 2002 to 2017, the analysis show the results that the firm's strategic deviation is positively associated with cost-downward rigidity, indicating that the management strategy affects the cost behavior. Also, it means that corporate managers who choose a strategy that deviates from peer firms are less likely to adjust their resource even when sales decrease. This study is meaningful in expanding the literature on the determinants of cost behavior by analyzing the effect of the management strategy's characteristics of strategic deviation on cost behavior.

• Convergence Security Journal
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• v.14 no.4
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• pp.41-53
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• 2014

In order to achieve efficient and effective organizational information security objectives, for the level of information security to accurately evaluation and direction for improving that performance evaluation index and method of measurement for information security outcomes are needed. For information security activities of domestic companies to measure the performance or effectiveness, that standard method of measuring and the available evaluation Index are insufficient. company is difficult to investment for information security budget. Therefore, the purpose of this study was developing of performance evaluation index and method of measurement for information security outcomes applying BSC available in the company. The results of this study that companies can determine the level of information security itself. Analysis of the information security status and the strategy establishment of the information security investment can be applied.

• Journal of the Korea Convergence Society
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• v.11 no.9
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• pp.229-242
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• 2020

The purpose of this study is to present the environmental factors of positive and negative aspects that affect the information security compliance intention, and reveals the relationship of the individual's the security compliance intention. The subjects of this study are employees of organizations that apply information security policies and technologies, and effective samples were obtained through surveys. In the process of analysis, the study model was verified through structural equation modeling. The measurement variables consisted of security policy, security system, technical support, work impediment, security non-visibility, compliance intention and organizational commitment and used for analysis. The results confirmed that security compliance factors such as policy, system, technical support, and non-compliance factors, work impediment, respectively, had an impact on organizational commitment, leading to compliance intention. The verification result of the research model suggests the direction of establishing a security compliance strategy for employees to improve the level of information security compliance of the organization.

• Strategy21
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• s.39
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• pp.82-113
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• 2016

This paper analyzes the contents and the effects of the UNSC 2270, and its implications to South Korea's defense strategy and navy. The UN Security Council passed strong sanctions against North Korea which punish North Korea's 4^th nuclear test. The sanctions compared to the previous ones require international society to take practical actions such as comprehensive trade bans as well as diplomatic isolation which will put significant pains on North Korea. Especially, these measures would greatly hamper economic development policy of Kim Joung-un regime. Because Kim Jung-un regime has inherent legitimacy problems which stems from the third family succession of the power, economic difficulties may play an important cause on the regime instability in the long term. In fact, the United States sees this possibility as an option to coerce North Korea in which North Korea choose denuclearization for its regime survival. Nevertheless, the prospects of the UN sanctions are not so optimistic. Considering North Korea's willingness for nuclear development and its level of nuclear technology, North Korea will try to play a gambit with the US and South Korea by exploiting its strategic advantages. North Korea's response will have three following strategies. First, it would actively pursue political and economic survival strategy by using China's support for the regime, strengthening its power grip in the name of countering US hostile policy, and enhancing peace propaganda. Second, North Korea will accelerate efforts to position its status as a nuclear de facto state. For this purpose, it could create nuclear crisis on the peninsula. Third, it would exploit local provocations as an exit strategy to get over the current situation. In order to counter North Korea's actions and punish North Korea's behavior strongly, South Korea needs following strategies and efforts. It should first make all the efforts to implement the UN sanctions. Strong and practical nuclear deterrence strategy and capability with the U.S. should be developed. Effective strategy and capabilities for the prevention and deterrence of North Korea's provocation should be prepared. For this purpose, North Korea's provocation strategy should be thoroughly reviewed. Active international cooperation is needed to punish and coerce North Korea's behavior. Finally, South Korea should prepare for the possible occurrence of North Korea's contingency and make use of the situation as an opportunity to achieve unification. All these strategies and efforts demand the more active roles and missions of South Korea's navy and thus, nullify North Korea's intention militarily.

• Convergence Security Journal
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• v.19 no.4
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• pp.165-171
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• 2019

The domestic information security market is booming, For the development of the information security industry. I wanted to suggest a strategy for finding and developing a good business model. So the main products were classified by similar industries. And The sector was selected as the dependent variable. Expert interviews were conducted and classified according to technical maturity. Independent variables were sales, number of employees, and performance. Average analysis result, sales amounted to 8.798 billion won, 13.51 years in industry, and 64.3 employees. As a result of SPSS statistical analysis, the correlation between industry type and sales according to technical maturity (r = -.729) was within 5% of significance level. The regression results were significant. (p= .047<0.05) Therefore, industry classification and sales are related to technological maturity.

• Journal of Information Science Theory and Practice
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• v.4 no.3
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• pp.6-27
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• 2016

There has been a growing interest and enthusiasm for the application of virtual worlds in learning and training. This research proposes a design framework of a virtual world-based learning environment that integrates two unique features of the virtual world technology, immersion and interactivity, with an instructional strategy that promotes self-regulatory learning. We demonstrate the usefulness and assess the effectiveness of our design in the context of information security learning. In particular, the information security learning module implemented in Second Life was incorporated into an Introduction to Information Security course. Data from pre- and post- learning surveys were used to evaluate the effectiveness of the learning module. Overall, the results strongly suggest that the virtual world-based learning environment enhances information security learning, thus supporting the effectiveness of the proposed design framework. Additional results suggest that learner traits have an important influence on learning outcomes through perceived enjoyment. The study offers useful design and implementation guidelines for organizations and universities to develop a virtual world-based learning environment. It also represents an initial step towards the design and explanation theories of virtual world-based learning environments.

• Journal of the Korea Institute of Information Security & Cryptology
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• v.29 no.3
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• pp.675-684
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• 2019

Under the wave of the Fourth Industrial Revolution, developed countries around the world recognize Smart Factory as a core base and strive to enhance the nation's industrial competitiveness through related policies and industry development. Domestic ministries have also set up a strategy for manufacturing innovation 3.0 and are pushing for the expansion of smart factories with 30,000 targets by 2025. In this study, we analyze the practical cases of smart factory security related companies and present the application methods for the same industry. we also intend to contribute to the protectetion of important information in Smart Factory and stable operation.

• Journal of the Korea Society of Computer and Information
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• v.19 no.7
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• pp.47-57
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• 2014

In order to publicly notify the information security (Internet or Cyber) threat level, the security companies have developed the Threat Meters. As the physical security devices are getting more intelligent and can be monitored and managed through networks, we propose a physical security threat meter (PSTM) to determine the current threat level of physical security; that is a very similar compared with the one of information security. For this purpose, we investigate and prioritize the physical security events, and consider the impact of temporal correlation among multiple security events. We also present how to determine the threshold values of threat levels, and then propose a practical PSTM using the threshold based decision. In particular, we show that the proposed scheme is fully implementable through showing the block diagram in detail and the whole implementation processes with the access controller and CCTV+video analyzer system. Finally the simulation results show that the proposed PSTM works perfectly under some test scenarios.

• Journal of Information Technology Applications and Management
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• v.26 no.5
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• pp.13-25
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• 2019

Recently, as evaluation of information security (IS) management become more diverse and complicated, the contents and procedure of the evidence to prepare for actual assessment are rapidly increasing. As a result, the actual assessment is a burden for both evaluation agencies and institutions receiving assessments. However, most of them reflect the evaluation system used by foreign government agencies, standard organizations, and commercial companies. It is necessary to consider the evaluation system suitable for the domestic environment instead of reflecting the overseas evaluation system as it is. The purpose of this study is as follows. First, we will present the problems of the existing information security assessment system and the improvement direction of the information security assessment system through analysis of existing information security assessment system. Second, it analyzes the technical guidance for information security testing and assessment and the evaluation of information security management in the Special Publication 800-115 'Technical Guide to Information Security Testing and Assessment' of the National Institute of Standards and Technology (NIST). Third, we will build a framework to implement the evidence collection system and present a system implementation method for the '6. Information System Security' of 'information security management actual condition evaluation index'. The implications of the framework development through this study are as follows. It can be expected that the security status of the enterprises will be improved by constructing the evidence collection system that can collect the collected evidence from the existing situation assessment. In addition, it is possible to systematically assess the actual status of information security through the establishment of the evidence collection system and to improve the efficiency of the evaluation. Therefore, the management system for evaluating the actual situation can reduce the work burden and improve the efficiency of evaluation.