시뮬레이션과 유전 알고리즘의 하이브리드 기법을 이용한 정보시스템 용량 산정 및 선택 방안

민재형(Jae H. Min),장성우(Sungwoo Chang),신경식(Kyung-shik Shin) 한국경영과학회 2007 經營 科學 Vol.24 No.2

The purpose of this paper is to develop a new method for information system sizing and selection based on a hybrid mixture of simulation and genetic algorithm, and to show its cost-effectiveness by applying it to a real world problem. To serve this purpose, we propose an operational model which identifies a set of system alternatives using simulation, and determines the optimal one using genetic algorithm. Specifically, with simulation, we generate probability distributions describing real data gathered from actual system, which can overcome the major weakness of the existing methodology that normally employs point estimates of the actual data and constant correction factors without theoretical rationale. We next search for the optimal combination of H/W, the number of CPUs, and S/W, which meets both of our business goals of incurring low TCO (total cost of ownership) and maintaining a good level of transaction processing performance. Experimental result shows the proposed method in this paper saves the cost while it preserves the system's capacity within allowable performance range.

기업의 ESG 노력은 지속가능경영의 당위적 명제인가? 기업의 재무상태에 따른 비재무적 책임 향상 노력의 차별적 효과

민재형(Jae H. Min),김범석(Bumseok Kim) 한국경영과학회 2019 經營 科學 Vol.36 No.1

This study figures out the relationship between firms’ non-financial performance, such as the environment, social, and governance factors, and their short-term as well as long-term values by their respective financial conditions. For the empirical tests, we divide the sample firms into four groups based on their financial status and non-financial performance, and conduct a series of regression analyses and the following Duncan groupings. For the response variables, we employ stock annual log returns as the proxy of a firm’s short-term value, and Tobin’s Q ratios as that of its long-term value. The results of the study show that the firm’s non-financial performance has a negative (-) effect on their short-term value. Moreover, when the firm’s financial status is not in good shape, it is advised that they should, in the first place, make an effort to improve their financial performance rather than to improve their non-financial one since the former is more effective to increase their long-term value than the latter. When the firm’s financial status is in good shape, however, it is shown that their effort to improve non-financial performance provides them with additional value beyond their financial performance. This study overcomes the limitations of previous studies lacking in considering the firm’s individual financial soundness, and provides a realistic guidance for the firms to pursue corporate social responsibility and their respective sustainability.

의사결정의 오류: 원인과 처방

민재형 ( Jae H. Min ) 서강대학교 경영학연구원 2008 서강경영논총 Vol.19 No.1

기업의 동반성장 노력과 재무성과의 선후행 관계

민재형(Jae H. Min),김범석(Bumseok Kim) 한국경영과학회 2014 한국경영과학회지 Vol.39 No.2

The purpose of this study is two-fold : the one is to examine the causal relationship between domestic large firms’ win-win growth effort and their financial performance by fiscal years; and the other is to develop a quantitative win-win growth index to overcome the limitation of the current one mainly using a survey method developed by NCCP (National Commission for Corporate Partnership). To serve the first purpose, we take a sample of 128 large companies whose win-win growth indices as of year 2011 and 2012 were evaluated by NCCP. We use their respective fiscal year’s financial data to select 62 candidate financial ratios, which are then used in subsequent empirical tests. For the tests, we employ ordered probit model with stepwise selection method and two-way ANOVA with randomized block design to identify which of the 62 financial ratios are statistically significant ones to affect the firms’ win-win growth index as well as to determine if the firms’ win-win growth effort would cause their financial performance positively. To serve the second purpose, we devise a model using the 123 firms’ 45 financial ratios, which employs ordered probit model with stepwise selection, and the validation of the model follows. We claim that the model suggested in this study serve as an alternative complementing the current one as it can produce the index in a more objective and swift manner using the firms’ publicized financial statements.

글로벌 e-서비스 기업의 현지 생존화 전략

민재형(Jae H. Min) 한국경영과학회 2011 經營 科學 Vol.28 No.3

We have recently witnessed many of global companies did not successfully adapt themselves to local markets, and finally exited the markets experiencing failures. The purpose of this study is to suggest practical glocalization strategies for global e-service companies to run their respective businesses in local markets with success. Glocalization is a terminology blending globalization and localization, meaning that global companies adapt themselves to local cultures, environment, languages, laws and regulations so as to survive and prosper in those markets while maintaining high quality of standards and processes they originally have for global competitive edge. Examining success stories as well as failure ones of global e-service companies having entered Asian markets, we provide marketing mix strategy for successful glocalization, and suggest some guidelines for prospective e-service companies wishing to enter local markets with different cultures and languages to fit themselves to new environments.

유전 알고리듬 기반 제품구매예측 모형의 개발

민재형(Jae H. Min),정철우(Chulwoo Jeong) 한국경영과학회 2009 한국경영과학회지 Vol.34 No.3

The purpose of this paper is to develop a new classification method for predicting consumer choice based on genetic algorithm, and to validate its prediction power over existing methods. To serve this purpose, we propose a hybrid model, and discuss its methodological characteristics in comparison with other existing classification methods. Also, we conduct a series of experiments employing survey data of consumer choices of MP3 players to assess the prediction power of the model. The results show that the suggested model in this paper is statistically superior to the existing methods such as logistic regression model, artificial neural network model and decision tree model in terms of prediction accuracy. The model is also shown to have an advantage of providing several strategic information of practical use for consumer choice.

기업의 환경, 사회, 지배구조 요인과 재무성과의 관계

민재형(Jae H. Min),김범석(Bumseok Kim),하승인(Seungyin Ha) 한국경영과학회 2015 經營 科學 Vol.32 No.1

We examine the relationship between firms" environmental (E), social (S), and governance (G) factors, with their financial performance in order to provide an empirical rationale for CSV (creating shared value) pursuing both of firms’ profitability and CSR (corporate social responsibility). The financial performance is classified into four aspects such as profitability, stability, efficiency, and cash-flow, and each of these aspects is measured by two financial ratios respectively. To measure the firms’ ESG performance, we employ the published performance grades by the Korea Corporate Governance Service for a three year span, from 2011 to 2013. Total of eight regression analyses are performed. The results show that firms" non-financial performance in general has statistically significant positive relationships with return on assets, return on net sales, and cash-flow from operating activities ratio, while it has negative relationships with net working capital ratio, asset turnover ratio, and cash-flow from investing activities ratio. It has no significant relationships with debt ratio and equity turnover ratio. The results imply that firms" non-financial performance may have a negative impact on some financial performance such as liquidity and efficiency in a short term, but it would eventually improve the firms’ profitability and cash-generating ability, which provides an empirical evidence for the concept of CSV, and motivates the firms to participate in social contribution activities without sacrificing their profitability for their respective sustainablity management.

개인 투자자의 위험성향 측정과 분류

민재형(Jae H. Min),김우섭(Woosub Kim) 한국경영학회 2017 한국경영학회 통합학술발표논문집 Vol.2017 No.08

This study develops a new method to measure risk attitudes of individual investors employing the relative measurement of Analytic Hierarchy Process (AHP), which is practically usable for investment consultation. The validity of this method is empirically checked by comparing the risk attitudes derived by the method with those by other existing methods based on expected utility theory. We also assure that a statistically significant difference among the risk attitudes of individuals exists by demographic characteristics. Deriving the risk attitudes by the proposed method, we classify them into five different types, which are named high risk-seeking, medium risk-seeking, low risk-seeking, risk-reducing, and risk-enlarging. Each of the latter two types indicates an individual changes her degree of risk-seeking behavior depending on whether her prospective future position becomes in gains or in losses. We suggest practical guidelines of consulting the individual investors by their respective types of risk attitudes, and propose an asset allocation method for them. While the method is theoretically sound, it is easily understood by the public without the knowledge of theoretical concepts needed in the existing methods, and also conveniently employed in practice.

한국생명보험산업의 효율성 평가와 비효율성 원인의 규명

민재형(Jae H . Min),김진한(Jin Han Kim) 한국경영학회 2000 經營學硏究 Vol.29 No.1

The purpose of this paper is to assess the efficiencies of the Korean life insurers from various perspectives and identify the specific causes of inefficiency experienced by them through the method of DEA (Data Envelopment Analysis). As a nonparametric efficiency measurement method, DEA has been widely used in measuring the relative efficiencies of decision making units (DMUs) in public and service sectors where the price information on input and output factors are not readily available, and it provides diverse efficiency-related information such as technical efficiencies, returns to scale, optimal production scales of individual DMUs. Using the real data of 33 life insurers operating in Korea over the period of 1990 through 1997, we conducted a series of detailed efficiency analyses from various perspectives, and identified the specific causes of inefficiency in the Korean insurance industry. It was found that domestic insurers had experienced notable inefficiency, which was mainly caused by their huge amount of business expenses following the physical expansion of their businesses. Specifically, the major factors causing the inefficiency of the domestic insurers in 1997, according to the cross-sectional analysis, turned out to be collection expenses and the number of branch offices. According to the longitudinal analysis over the period of 1990 through 1997, on the other hand, it was shown that collection expenses, new business expenses, and maintenance expenses had been the most uncontrolled factors; and hence they were identified as the major causes of inefficiency from long-term perspective. We recommend from the result that operating expenses such as collection expenses, new business expenses, and maintenance expenses should be more properly managed for the Korean life insurance industry to improve their productive efficiency while individual domestic insurers should make every effort to downsize their operations in pursuit of reducing their collection expenses and number of branch offices.

공공기관의 성과측정: 개념적 틀

민재형 ( Jae H. Min ),이정섭 ( Jung Sub Lee ) 서강대학교 경영학연구원 2006 서강경영논총 Vol.17 No.1