• Korean Journal of Culture and Social Issue
• /
• v.13 no.3
• /
• pp.89-109
• /
• 2007

This study is an exploratory study on stock investment behaviors of individual investors in psychological perspective. The study is based on many behavioral finance studies which overconfidence of individual investors has an effect on irrational investment decision making and investment behaviors such as excessive trading. Accordingly, this study was to investigate the factors of self-enhancement perception on confidence of investment of individual investors and to find whether these psychological biases lead to irrational investment behaviors. The results indicated that there were sex differences in the factors of self-enhancement perception on individual investors' confidence of investment. In case of male investors, they were confident of their ability of investment but in case of female investors, they were confident of optimistic expectation of return. Also, male investors were more confident of investment than female investors. In addition, the result showed that risky investment behaviors of individual investors were influenced by psychological factors such as favorable self-evaluation, confidence of self-controllability, optimistic expectation of return and confidence of investment in part. This study suggests that further researches need to search after other variables which can mediate between psychological factors and investment behaviors of individual investors.

• Asia pacific journal of information systems
• /
• v.29 no.2
• /
• pp.283-307
• /
• 2019

Although crowdfunding has emerged as a promising route to fundraising success, little is known about the specifics of equity-based crowdfunding. Using a data set of 1,111 start-ups with investment funding totaling over $4.67 billion, we analyzed the association between a start-up's underlying characteristics and its funding outcome. We found that a start-up's funding outcome is positively associated with its human capital, but negatively associated with earlier investors' business experience. Furthermore, our analyses revealed that investors have higher levels of social capital are a noise signal to later investors. These findings shed light on the critical role of human capital, investors' experience, and social capital as credible signals for start-up investment in equity crowdfunding.

• Journal of the Korean Operations Research and Management Science Society
• /
• v.38 no.4
• /
• pp.53-63
• /
• 2013

Together with soaring interest on Big Data, now there are vigorous reports that unearth various social values lying underneath those data from a number of application areas. Among those reports many are using such data as Internet search histories from Google site, social relationships from Facebook, and transactional or locational traces collected from various ubiquitous devices. Many of those researches, however, are conducted based on the data sets that are accumulated over the North American and European areas, which means that direct interpretation and application of social values exhibited by those researches to the other areas like Korea can be a disturbing task. This research has started from a validation study against Korean environment of the former paper which says an investment strategy that exploits up and down of Google search volume on a carefully selected set of terms shows high market performance. A huge difference between North American and Korean environment can be eye witnessed via the distinction in profit rates that are exhibited by the corresponding set of search terms. Two sets of search terms actually presented low correlation in their profit rates over two financial markets. Even in an experiment which compares the profit rates with two different investment periods with the same set of search terms showed no such meaningful result that outperforms the market average. With all these results, we cautiously conclude that establishing an investment strategy that exploits Internet search volume over a specified word set needs more conscious approach.

• Journal of Convergence for Information Technology
• /
• v.10 no.6
• /
• pp.70-76
• /
• 2020

This study examines whether there is a moderating effect of corporate social responsibility(CSR) on the relation between sales, general, and administrative(SG&A) expenditures and future corporate performance. SG&A expenditures are decomposed into maintenance and investment components and the latter component is focused. Using 968 Korean firm-year observations with CSR scores in the KOSPI market for the period of 2012-2017, this study investigates the relation between SG&A investment component and future corporate performance and then the moderate effect of CSR on its relation. Main results show that the SG&A investment component increases the future corporate performance and the moderate effect of CSR on its relation is more positively explicit. This finding implies that the effect of SG&A investment component on corporate performance is differentiated according to the level of CSR.

• Journal of the Korea Institute of Information Security & Cryptology
• /
• v.20 no.6
• /
• pp.261-270
• /
• 2010

As the usage of social network service(SNS) increases recently, great attention has been shown to the information security in SNS. However, there has been little investment in SNS environment for security while preferential investment to attract subscribers has been made so far. Moreover, there is still a lack of confidence for investment effect and an absence of framework to analyze the threat factors of information security in SNS. In this paper, we propose to model for decision-making standard of SNS information security investment by the AHP. The result shows that 'service image' is the most important criterion for the decision of SNS information security. It also shows that 'Profile-squatting and reputation slander through ID thefts' and 'Corporate espionage' are important threat factors in SNS information security.

• Journal of Digital Convergence
• /
• v.16 no.4
• /
• pp.11-22
• /
• 2018

The Social Economy including social enterprise is solving various social problems of our society by innovative business Nevertheless, social economic companies have limited investment ingrowth due to insufficient capital. There are various attempts to solve the limit of capital investment by social finance. Social iImpact bonds that introduced performance-based compensation into financial system is recognized as a new means of procuring that capital lacks. 89 social impact bonds were issued in 19 countries around the world. )f the 22 social impact bonds reporting performance, 21 bonds report positive performance. The twelve bonds paid incentives to investors. It can be said that the government provides incentives to review the issuance of social impact bonds at the government level, which is difficult to expand the social welfare budget. This study confirmed the performance of the social impact bonds and confirmed the possibility of introducing it in korea. There is a limit to continuously increasing the government's social expenditure to meet demand. Therefore, in order to support the growth of social economy based on private investment, the issuing of social impact bonds should create a virtuous circle of social financial market.

• Management Science and Financial Engineering
• /
• v.16 no.2
• /
• pp.99-114
• /
• 2010

The influencing factors of large-scale IT investment decisions are rarely investigated in an empirical perspective. We find out different behaviors in IT investment decisions according to the size of organization. Large scale IT-investment decisions (e.g. system downsizing) can be the outcome of decision-makers' motivation to adopt and control new IT systems- However, this phenomenon is salient in the large-sized organization rather than small-sized ones. Based on our investigation, we predict general IT decision-making behaviors in organizations when making IT investment decisions.

• Journal of the Korea Safety Management & Science
• /
• v.13 no.2
• /
• pp.267-273
• /
• 2011

Since 'The Act on Private Investment of The Infrastructure' was established in 1994, private investment as well as government's investment in transport infrastructure has been active. However investment in transport infrastructure has more risks than others' due to uncertainty both in traffic volume and in construction cost. In the current appraisal procedure of deciding transportation infrastructure investment, instead of risk management, the sensitivity analysis considering only the changes of benefit, cost and social discount rate which are main factor affecting economic feasibility is carried out. Therefore the uncertainty of various factors affecting demand, cost and benefit are not considered in feasibility study. In this study the problems in current investment appraisal system were reviewed. Using Delphi technique the major factors which have high uncertainty in feasibility study were surveyed and then improvement plan was suggested in the respective of classic 4 step demand forecasting method. The range estimation technique was also mentioned to deal with the uncertainty of the future.

• Proceedings of the KSR Conference
• /
• 2008.06a
• /
• pp.1324-1332
• /
• 2008

The change of the transportation circumstance related to the deep environmental pollution, escalation of the energy price, increasing social cost of the congestion and traffic accident, improving a income level, advanced social structure etc, is rapidly proceeded. For the corresponding this transportation circumstance, the role of the railway is being increased and that is friendly with environment, efficient for the energy, observed the time schedule and the transportation device which is high speed and safe mass transportation. In addition, government's R&D investment is being increased according to deeping a strength of the international competitiveness through the technical innovation. So railway's R&D investment is being increased. Accordingly, This study suggest improving a fruit of the R&D related to railway R&D system for a efficient R&D investment.

• The Journal of Fisheries Business Administration
• /
• v.44 no.2
• /
• pp.101-109
• /
• 2013

This study is aimed to analyze investment effects of fisheries R&D projects of the National Fisheries Research and Development Institute(NFRDI). In the analysis, Granger causal relations between R&D investment and fisheries production are tested. In addition, time-lag effects of fisheries R&D investment are estimated with an impulse response analysis and investment effects of R&D projects are estimated by changes of social surplus. Results indicate that there exists an Granger-causality between R&D investment and fisheries production and fisheries production responds to the fisheries R&D shock about three years after the initial shock. The magnitudes of the impacts increase until a peak is reached 5~7 years and the impacts decline to zero after 25 years. As investment effects, it is shown that the internal rate of returns of fisheries R&D investment is 55.2%.