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REFERENCE LINKING PLATFORM OF KOREA S&T JOURNALS
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Journal of the Korean Operations Research and Management Science Society
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The Korean Operations and Management Science Society
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Volume & Issues
Volume 41, Issue 2 - May 2016
Volume 41, Issue 1 - Feb 2016
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Effects of Failed Financial Services on Negative Emotion and Behavioral Responses
Chon, Inuk ; Kang, Hyunmo ; Kang, Yeong Seon ; Lee, Eunhyung ;
Journal of the Korean Operations Research and Management Science Society, volume 41, issue 1, 2016, Pages 1~19
DOI : 10.7737/JKORMS.2016.41.1.001
While previous studies on service failures mainly focused on general services, this study examines the effects of failed financial services on the psychological process and behavioral responses of consumers. The important factors of financial service (relational benefits, convenience, branch satisfaction, product diversity, company stability, and product profitability) are regarded as antecedents in our model. We study how each factor of failed financial service affects the negative emotions of consumers through the attribution process and how these arising emotions influence their behavioral responses. Through path analysis, this study shows that failure of service factors of relational benefits, branch satisfaction, and convenience induces disappointment, with the mediation effect of external attribution. Meanwhile, failure of service factors of product diversity and product profitability induces regret, with the mediation effect of internal attribution. Disappointment leads to complaint behavior, and regret leads to switching behavior. Unlike previous studies, the present one considers the important factors of financial service and their effects on the affective and behavioral responses of consumers.
Value Structure Model of the Success Factor of ITO Transition
Cha, Hwan-Ju ; Kim, Ja-Hee ;
Journal of the Korean Operations Research and Management Science Society, volume 41, issue 1, 2016, Pages 21~39
DOI : 10.7737/JKORMS.2016.41.1.021
Although the demand for IT outsourcing (ITO) has increased recently because of the recent recession, concerns about business discontinuity in the transition phase cause companies to hesitate to adopt ITO. Therefore, a guideline to improve the prospects is needed. However, studies on the success factors of the transition phase in ITO are lacking. In this study, we develop an expert hierarchical value map (HVM) of the success of the transition phase in ITO by using cognition scientific methodologies. We empirically verify how success factors affect the success of the transition phase. Specifically, we derive an HVM of main stakeholders by using in-depth interviews and approaches, such as repertory grid technique (RGT) and laddering, based on means-end chain theory. We validate the success factors empirically through a bipolar analysis of RGT. Finally, we determine the most important cluster of success factors through cluster analysis.
Application of Variable Neighborhood Search Algorithms to a Static Repositioning Problem in Public Bike-Sharing Systems
Yim, Dong-Soon ;
Journal of the Korean Operations Research and Management Science Society, volume 41, issue 1, 2016, Pages 41~53
DOI : 10.7737/JKORMS.2016.41.1.041
Static repositioning is a well-known and commonly used strategy to maximize customer satisfaction in public bike-sharing systems. Repositioning is performed by trucks at night when no customers are in the system. In models that represent the static repositioning problem, the decision variables are truck routes and the number of bikes to pick up and deliver at each rental station. To simplify the problem, the decision on the number of bikes to pick up and deliver is implicitly included in the truck routes. Two relocation-based local search algorithms (1-relocate and 2-relocate) with the best-accept strategy are incorporated into a variable neighborhood search (VNS) to obtain high-quality solutions for the problem. The performances of the VNS algorithm with the effect of local search algorithms and shaking strength are evaluated with data on Tashu public bike-sharing system operating in Daejeon, Korea. Experiments show that VNS based on the sequential execution of two local search algorithms generates good, reliable solutions.
Analysis of Sustaining Growth Factors in a Turbulent Business Environment : Case of US Companies Facing the Global Financial Crisis
Lee, Ho Rim ; Chang, Suk-Gwon ;
Journal of the Korean Operations Research and Management Science Society, volume 41, issue 1, 2016, Pages 55~69
DOI : 10.7737/JKORMS.2016.41.1.055
In response to drastic environmental changes, companies have been continuously rebalancing their resources and capabilities to sustain their competitive status or to survive difficult times. The aim of this study is to analyze the effect of sudden environmental changes on the competitive status of a firm and to identify the internal factors that differentiate sustainer and non-sustainer groups. To achieve this goal, we selected 85 representative IT and non-IT companies from the S&P 500 companies and investigated them with respect to the change in their five-year competitive status since the 2008 global financial crisis. As a concrete performance measure, the concept of perceived competitive status (PCS) was introduced, and four distinct PCS categories were identified by using the stock price changes during the selected period. The four distinct PCS categories are "sustaining," "drifting," "deep sunken," and "bouncing back." Discriminant analysis was performed on these four distinct PCS categories. The empirical study conducted showed that revenue and cost efficiency are the most discriminating factors, especially in the economic recovery period. In particular, stronger financial liquidity was observed in high-performing "bouncing back" companies than in the other category companies.
Assessing the Effects of Multi-Channel Service Quality on Customer Satisfaction and Loyalty in Retail Banking
Kim, Jiyoung ;
Journal of the Korean Operations Research and Management Science Society, volume 41, issue 1, 2016, Pages 71~85
DOI : 10.7737/JKORMS.2016.41.1.071
Service channel environments have changed dramatically with the advent of new, online digital channels. This article studies the effects of perceived multi-channel service quality on customer satisfaction and loyalty in the banking industry and the moderating role of age, which is a characteristic of customers. The objective is to identify the quality factors that affect the overall satisfaction and loyalty of a multi-channel customer. A quantitative study was conducted on 900 customers, with the main targets being users of the nine primary Korean retail banks. Results show that perceived service quality of the physical environment, human service, Internet banking, mobile banking, and ATM has a positive influence on overall satisfaction and loyalty. Age moderates the relationship among physical environment quality, human service, and customer loyalty.
Chaotic Behavior of a Single Machine Scheduling Problem with an Expected Mean Flow Time Measure
Joo, Un Gi ;
Journal of the Korean Operations Research and Management Science Society, volume 41, issue 1, 2016, Pages 87~98
DOI : 10.7737/JKORMS.2016.41.1.087
A single machine scheduling problem for jobs with stochastic processing time is considered in this study. Shortest processing time (SPT) sequencing according to the expected processing times of jobs is optimal for schedules with minimal expected mean flow time when all the jobs arrive to be scheduled and their expected processing times are known. However, SPT sequencing according to the expected processing time may not be optimal for the minimization of the mean flow time when the actual processing times of jobs are known. This study evaluates the complexity of SPT sequencing through a comparison of the mean flow times of schedules based on the expected processing times and actual processing times of randomly generated jobs. Evaluation results show that SPT sequencing according to the expected flow time exhibits chaotic variation to the optimal mean flow time. The relative deviation from the optimal mean flow time increases as the number of jobs, processing time, or coefficient of variation increases.
Analysis of the Change in R&D Efficiency in a Government-Funded Research Institute in Korea : Cumulative DEA/Malmquist Analysis Approach
Lee, Suchul ; Lee, Dong Ho ;
Journal of the Korean Operations Research and Management Science Society, volume 41, issue 1, 2016, Pages 99~111
DOI : 10.7737/JKORMS.2016.41.1.099
This paper presents a framework to analyze the change in the research and development (R&D) efficiency of government-funded research institutes (GRIs) in Korea. Cumulative data envelopment analysis/Malmquist index method is utilized to analyze the changes in R&D efficiency of GRIs. Data analysis of the R&D activities of 10 GRIs in Korea Research Council of Fundamental Science & Technology showed that the average R&D efficiency of the 10 GRIs improved from 2009 to 2013. However, the efficiency of a few GRIs decreased in terms of the catch-up index. The proposed framework can help management teams diagnose the current state of R&D activities and determine the efficacy of strategic actions by comparing efficiencies in the past.
Effect of Power Dynamics in a Supply Chain on R&D and Market Performances
Yoo, Seung Ho ;
Journal of the Korean Operations Research and Management Science Society, volume 41, issue 1, 2016, Pages 113~126
DOI : 10.7737/JKORMS.2016.41.1.113
This study investigates the effect of power dynamics on R&D and market performances. Various types of relationships in a supply chain are considered. An R&D company offering new technology for product quality and a manufacturer responsible for both production and sales are utilized as subjects. The company with bargaining power differs with respect to the supply chain situation in practice, and no fixed single relationship and supply chain structure exist. However, only a few studies have considered the various relationships among players in a supply chain and their effects on performance. Therefore, we propose three models with different supply chain structures and power dynamics among players. This study contributes to the academia and supply chain practice by revealing the different characteristics of supply chain models.
Efficiency Analysis and Finance Strategy for an Automotive Parts Maker Using DEA and Logistic Regression Model
Sin, Jeong-Hun ; Hwang, Seung-June ;
Journal of the Korean Operations Research and Management Science Society, volume 41, issue 1, 2016, Pages 127~143
DOI : 10.7737/JKORMS.2016.41.1.127
This study applied DEA analysis to measure the relative efficiency of 35 companies that produce automobile body components. First, the input and output, the improvement target value of the calculated variables, and the reference group for benchmarking for inefficient groups to become efficient groups were established through DEA analysis. In addition, whether inefficiency was due to technical inefficiency or size was analyzed in connection with the cases of the actual companies through the measurement of scale efficiency. Second, a route for efficiency improvement was derived through DEA-Tier analysis by defining the possible group for benchmarking in actuality within the production industry of automobile body components where the primary cooperative company belonged. Third, the financial variables that generate the difference between efficient and inefficient groups were derived through logistic regression analysis. Financial strategies that determine the direction the indices should be improved to allow the inefficient group to become an efficient one were recommended. This research is expected to provide diagnostic methods for management efficiency and the direction of improvement to enhance the management efficiency of automotive parts makers by identifying the causes of the inefficiency of domestic automotive parts makers empirically. The study also provides financial strategies together with the target values of efficiency improvement for each individual company.