• Management Science and Financial Engineering
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• v.21 no.2
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• pp.13-23
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• 2015

This study addresses the question as to whether the option prices have useful predictive information on the direction of stock markets by investigating a forecasting power of volatility curvatures and skewness premiums implicit in S&P 500 index option prices traded in Chicago Board Options Exchange. We begin by estimating implied volatility functions and risk neutral price densities every minute based on non-parametric method and then calculate volatility curvature and skewness premium using them. The rationale is that high volatility curvature or high skewness premium often leads to strong bullish sentiment among market participants. We found that the rate of return on the signal following trading strategy was significantly higher than that on the intraday buy-and-hold strategy, which indicates that the S&P500 index option prices have a strong forecasting power on the direction of stock index market. Another major finding is that the information contents of S&P 500 index option prices disappear within one minute, and so one minute-delayed signal following trading strategy would not lead to any excess return compared to a simple buy-and-hold strategy.

• International Journal of Naval Architecture and Ocean Engineering
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• v.8 no.6
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• pp.602-614
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• 2016

It is necessary to develop an efficient optimization technique to perform optimum designs which have given design spaces, discrete design values and several design goals. As optimization techniques, direct search method and stochastic search method are widely used in designing of ship structures. The merit of the direct search method is to search the optimum points rapidly by considering the search direction, step size and convergence limit. And the merit of the stochastic search method is to obtain the global optimum points well by spreading points randomly entire the design spaces. In this paper, Pareto Strategy (PS) multi-objective function method is developed by considering the search direction based on Pareto optimal points, the step size, the convergence limit and the random number generation. The success points between just before and current Pareto optimal points are considered. PS method can also apply to the single objective function problems, and can consider the discrete design variables such as plate thickness, longitudinal space, web height and web space. The optimum design results are compared with existing Random Search (RS) multi-objective function method and Evolutionary Strategy (ES) multi-objective function method by performing the optimum designs of double bottom structure and double hull tanker which have discrete design values. Its superiority and effectiveness are shown by comparing the optimum results with those of RS method and ES method.

• East Asian Journal of Business Economics (EAJBE)
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• v.10 no.4
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• pp.39-45
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• 2022

Purpose - This short paper reviews the debate dealing with the relationship between strategy and traditional strategy approach on the one hand, and business models and new business model approach on the other hand and tries to offer useful direction to be more helpful to theoretical discussions. Research design, data, and methodology - This paper makes a theoretical analysis to explain the confusion surrounding the debate, reviewing mainly literature survey papers and finds theoretical conjecture and its limitations in order to present useful direction to the future theoretical work. Result - In order to comprise its diversity, business model studies should consider the characteristics of each firm, sector, and market. Adding further elements which are related to each sector or market, theoretical studies can capture the diverse phenomena related to business model and business model innovation. Conclusion - The traditional strategy perspective can be utilized to the Business model phenomenon in the case of incumbent firms and non-digital sector and existing markets. Meanwhile the new business model perspective can be utilized to business model phenomena in case of start-ups and digital sector and emerging markets. Reconciling two perspectives, the studies dealing with the business model should focus on the characteristics of firms, markets, and knowledge from the perspective of business model innovation.

• Journal of Korean Physical Therapy Science
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• v.19 no.1
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• pp.63-69
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• 2012

Background : The purpose of this study was to investigate the frequency domain characteristics of ground reaction forces during quiet standing on inclined surfaces twenty healthy individuals(10 elderly women $68.78{\pm}3.29$ years and 10 young women $20.90{\pm}0.74$ years) participated. Methods : Subjects stood in quiet stance over a force platform positioned in one of three different fixed positions: flat, down and up. Healthy participants completed with eyes open for 120 s trials. Evaluation of postural control were generally based on the interpretation of center of pressure(COP) time series. The COP have been determined using an experimental setup with 3D kinematic and the ground reaction force system. All the data were expressed means and standard deviation by using SAS package program. Results : SEF 50% were not significant in AP and ML direction according to surface slope of both groups. SEF 95% were showed highest frequency in AP direction on down slope of both groups. MEF were not significant all direction according to surface slopes of elderly women. There was no difference between young and elderly women. Conclusion : Elderly women used to ankle strategy during a quiet stance according to COP perturbation of AP direction showed more expanded than ML direction. SEF 95% were showed highest frequency on down slope in elderly women who showed more used ankle strategy for postural control on down slope.

• Spatial Information Research
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• v.20 no.6
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• pp.69-76
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• 2012

In this study, we derived the characteristics of the geo-spatial information industry by using input-output analysis. For this analysis, we classified the geo-spatial information industry and reorganized the input-output table. And we derived the production inducement coefficient, index of the power of dispersion and index of the sensitivity of dispersion in the geo-spatial information industry. We confirmed that geo-spatial information industry has a small production inducement coefficient and a great forward linkage effect. Based on these facts, we suggested the strategy direction as follows: 1) building the industrial eco-system, 2) managing both advance and applicability enhancement, 3) Establishing from a long-term point of view.

• Journal of Korean Society for Geospatial Information Science
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• v.19 no.1
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• pp.37-43
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• 2011

In this study, we dealt with the U-City industry in Seoul as a case study for deriving the characteristics of it. Using the interindustry analysis, we made sure that U-City industry has a great forward linkage effect. It means that development of U-City industry have a good effect on the entire industry likewise the infrastructure. In this sense it is important that we have to promote it first. Based on this result, we suggested the strategy direction as follows: 1) Solving the emerging problem, 2) Identifying the roles of public and private sector, 3) Drawing up the plan for supporting.

• Korean Journal of Computational Design and Engineering
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• v.20 no.2
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• pp.133-144
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• 2015

Introduction of BIM(Building Information Modeling) was led by public institutions, and all buildings over a certain size were obligated to apply BIM. However, through various attempt to apply BIM to actual practice, people had doubt whether it is a usable technology in reality appeared. Therefore, this study investigated cases about implementation strategies of foreign countries, and conducted survey on BIM performances and preparation in architectural design firms. On the basis of this, it suggests the long-term development strategy of BIM and the basic direction of road map to adopt BIM effectively to domestic architectural design market. After considering the cases abroad and the results of survey, it is identified that incentive policies supporting finance and education should be carried out together with partially obligation method led by government in order to introduce BIM into architectural design market effectively by reflecting current situation of architectural design firms.

• Korean Management Science Review
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• v.23 no.2
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• pp.109-135
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• 2006

Despite much attention of strategy implementation, there is rarely a study focusing on the ways to evaluate the strategy implementation competence. Therefore, based on broad literature review, we suggested a simple model and procedure to evaluate the technology strategy implementation competence based on importance-Performance Analysis (IPA). The proposed model applied to the case of 'Company A' in order to examine the feasibility. We grasped the importance of strategic direction by surveying the employees in 'Company A', and also measured relative importance and performance of critical technology strategy implementation factor. By analyzing the results of the survey, we can identify the barriers to implementing the technology strategy in 'Company A'.

• Knowledge Management Research
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• v.13 no.5
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• pp.113-137
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• 2012

Since service innovation is considered as a new way to gain an advantage in a highly competitive environment, it is imperative for companies to align their service innovation strategy with their business strategy in order to achieve better firm performance. Accordingly, a critical challenge facing firms is how to effectively organize and manage a well-planned service innovation strategy in accordance with the direction of their business strategy. Firms with a good fit between business strategy (i.e., cost leadership, innovative differentiation, and marketing differentiation strategies) and service innovation strategy (service creation-focused, service delivery-focused, and client interface-focused strategies) are expected to have better firm performance than those without such a fit. Based on empirical data from 209 service firms in South Korea, this study aims first to investigate whether a certain service innovation strategy is more effective than others within a particular business strategy. We then examine whether their effective alignment positively affects firm performance. The empirical evidence indicates that the alignment of service innovation strategy with business strategy significantly influences firm performance. The adoption of service innovation strategy was found to have positive effects on firm performance with innovative differentiation and marketing differentiation strategies and negative effects with cost leadership strategy. Lastly, we discuss our study's implications for further research and practice.

• Journal of Digital Convergence
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• v.14 no.10
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• pp.195-203
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• 2016

This paper, which was performed for an environmental analysis step in the information strategy planning, proposes the capable method of building a foundation which can improve the quality of results. An existing environment analyzing method is composed with external environment analysis, internal capacity analysis and information direction deriving activity. At the first stage of environment analysis, with current state analysis, preparation of interview with major stakeholder of project, carrying out the interview, added the activities to gain initial direction of the information. Then it applied a key-questioning of convergence scenario-based analysis for external environment analysis and internal capacity analysis. Performing the external environment analysis and internal capacity analysis with analysis model, convergence application of scenario-based analysis model was enabled to verify information direction on the initial setting. The result was applied at actual project site and was enabled to perform the project quickly, and to improve the quality of project results.