Go to the main menu
Skip to content
Go to bottom
REFERENCE LINKING PLATFORM OF KOREA S&T JOURNALS
> Journal Vol & Issue
Korean Management Science Review
Journal Basic Information
Journal DOI :
The Korean Operations and Management Science Society
Editor in Chief :
Volume & Issues
Volume 28, Issue 3 - Nov 2011
Volume 28, Issue 2 - Jul 2011
Volume 28, Issue 1 - Mar 2011
Selecting the target year
Conditional Value-at-Risk Optimization for Conversion of Convertible Bonds
Park, Koo-Hyun ; Shim, Eun-Tak ;
Korean Management Science Review, volume 28, issue 2, 2011, Pages 1~16
In this study we suggested two optimization models to answer a question from an investor standpoint : how many convertible bonds should one convert, and how many keep? One model minimizes certain risk to the minimum required expected return, the other maximizes the expected return subject to the maximum acceptable risk. In comparison with Markowitz portfolio models, which use the variance of return, our models used Conditional Value-at-Risk(CVaR) for risk measurement. As a coherent measurement, CVaR overcomes the shortcomings of Value-at-Risk(VaR). But there are still difficulties in solving CVaR including optimization models. For this reason, we adopted Rockafellar and Uryasev's[18, 19] approach. Then we could approximate the models as linear programming problems with scenarios. We also suggested to extend the models with credit risk, and applied examples of our models to Hynix 207CB, a convertible bond issued by the global semiconductor company Hynix.
Stochastic Programming Approach to Scheduling Elective Surgeries and the Effects of Newsvendor Ratio on Operating Room Utilization
Min, Dai-Ki ;
Korean Management Science Review, volume 28, issue 2, 2011, Pages 17~29
The purpose of this paper is to schedule elective surgery patients using a stochastic programming approach and to illustrate how operating room utilization behaves when a decision-maker varies costs associated with utilization. Because of the uncertainty in surgery durations, the underage and overage costs that a decision-maker considers plays an important role in allocating surgery cases into available operating room capacity. We formulate the problem as a stochastic mixed integer programming and propose a sampling-based approximation method for a computational purpose. Newsvendor model is employed to explain the results from numerical experiments that are conducted with the actual data from a hospital. The results show that the operating room utilization is more sensitive when the unit overtime cost is relatively larger than the unit cost for underutilized time.
The Effects of IT Project Risk Management Factors on Project Performance
Jang, Sung-Bong ; Kwahk, Kee-Young ;
Korean Management Science Review, volume 28, issue 2, 2011, Pages 31~51
Many companies have considered IT outsourcing as one of strategic alternatives in order to rapidly respond to changing business environment and strengthen their competitiveness. Despite its strategic role, however, IT outsourcing project has been plagued by a high failure rate and difficulty in realizing the promised project performance because of its inappropriate risk management. This study examines the effect of IT project management risk factors on project performance. We propose that project risk management factors(communication, technology sharing, and project control) influence project performance(process performance and product performance). Based on the empirical results, theoretical and practical implications of the study are discussed along with its limitations.
Optimal Design of Reporting Cell Location Management System Using BPSO
Byeon, Ji-Hwan ; Kim, Sung-Soo ;
Korean Management Science Review, volume 28, issue 2, 2011, Pages 53~62
The objective of this paper is to propose a Binary Particle Swarm Optimization(BPSO) for design of reporting cell management system. The assignment of cells to reporting or non-reporting cells is an NP-complete problem having an exponential complexity in the Reporting Cell Location Management(RCLM) system. The number of reporting cells and which cell must be reporting cell should be determined to balance the registration(location update) and search(paging) operations to minimize the cost of RCLM system. Experimental results demonstrate that BPSO is an effective and competitive approach in fairly satisfactory results with respect to solution quality and execution time for the optimal design of location management system.
Analysis of Causal Relationship between Patent Indicators and Firm Performance
Lim, Ji-Youn ; Kim, Chul-Young ; Gu, Ja-Chul ;
Korean Management Science Review, volume 28, issue 2, 2011, Pages 63~74
As business environment has become more competitive, the R&D strategies of firms have been regarded more important. Patent has information about technology which affects a firm's profit and it is considered as resources which have provided appropriate data for research of innovations and trends in technology. And patent indicators are known as qualitative representation of technology quality in an objective view. Also, they are available for the continuous and systematic analysis. However, most previous studies have focused on developing patent indicators to investigate patent value and characteristics. Furthermore they have limitations that most results is not significant that patent indicators have effect on firm performance-Tobin's q, Intangible assets based on balance sheet, sales and etc. Thus, the purpose of this paper is to propose proper a factor to represent a firm performance and to analyze causal relationship between patent indicators and firm performance. Intangible assets based on market value are employed as one of most significant firm performance indicator. The results indicate that intangible assets are appropriate for analyzing causal relation between patent and a firm performance with 7 significant indicators among 10 patent indicators. Considering firm's exogenous factors, regression analysis of each data for five years is performed. This result is similar to regression analysis of full data for all years.
Cognitive and Affective Conflict between Marketing and R&D in New Product Development
Cho, Eun-Seong ; Hahn, Min-Hi ; Hyun, Yong-J. ;
Korean Management Science Review, volume 28, issue 2, 2011, Pages 75~92
This study investigates how cognitive and affective conflict affect performance and social outcomes in the new product situation. We examine the corporate, project, and personal characteristics that determine the level of inter-functional conflict between marketing and R&D. From a survey of Korean high-tech companies, we found : (1) time pressure was positively related to cognitive and affective conflict, (2) joint reward systems, interdepartmental connectedness, and years of education were negatively associated to cognitive conflict, (3) while cognitive conflict was positively related to new product creativity and NPD performance, affective conflict was negatively associated to marketing-R&D integration and perceived effectiveness of the relationship, as well as new product creativity and NPD performance.
The Effects of Promotion Activities of Pharmaceutical Companies on Physicians' Prescription
Park, Sang-Jun ;
Korean Management Science Review, volume 28, issue 2, 2011, Pages 93~103
This paper has aimed to identify marketing variables which affect physicians' prescription of drug. Based on a literature review this paper derives the three factors (indirect commercial source, direct commercial source, academic information source) of information sources that physicians rely on for medicines, the three factors (research supporting activity, marketing supporting activity, medicine information supporting activity) of promotion activities physicians prefer, and the four factors (indirect quality of medicine, direct quality of medicine, experience of using medicine, price and design of medicine) of prescription criteria physicians use. Then it investigates using canonical correlation analysis whether or not physicians' prescriptions are affected by the information sources, the promotion activities, and the type of physicians. From the canonical correlation analysis this paper derives the meaningful three canonical functions of prescription for drugs. The first function explains the prescription which is insensitive to marketing activities, the second function does the prescription which is sensitive to them, and the final function does the prescription which is not affected by them.