Won-Gil Hyung, Sangyong Kim and Jung-Kyu Jo
Applied a hybrid approach using genetic algorithms (GAs) for a case-based retrieval process in order to increase the overall improved cost accuracy for a case-based library. The…
Abstract
Purpose
Applied a hybrid approach using genetic algorithms (GAs) for a case-based retrieval process in order to increase the overall improved cost accuracy for a case-based library. The paper aims to discuss this issue.
Design/methodology/approach
A weight optimization approach using case-based reasoning (CBR) with proposed GAs for developing the CBR model. GAs are used to investigate optimized weight generation with an application to real project cases.
Findings
The proposed CBR model can reduce errors consistently, and be potentially useful in the early financial planning stage. The authors suggest the developed CBR model can provide decision-makers with accurate cost information for assessing and comparing multiple alternatives in order to obtain the optimal solution while controlling cost.
Originality/value
The system can operate with more accuracy or less cost, and CBR can be used to better understand the effects of factor interaction and variation during the developed system’s process.
Details
Keywords
Seoung-Wook Whang, Kenneth Sungho Park and Sangyong Kim
The purpose of this paper is to identify the critical success factors (CSFs) to implement integrated project delivery (IPD) systems in the Korean construction industry.
Abstract
Purpose
The purpose of this paper is to identify the critical success factors (CSFs) to implement integrated project delivery (IPD) systems in the Korean construction industry.
Design/methodology/approach
This study categorized potential CSFs and analyzed them using factor analysis and multiple regression analysis to choose the best ones based on responses from Korean construction experts.
Findings
In total, 29 potential factors were selected and categorized into 7 CSFs using factor analysis.
Originality/value
The outcomes of the study are useful as a reference for applying the IPD system in different developing countries and mid-sized construction industries.
Details
Keywords
Xina Yuan, SangYong Kim, Wanwen Dai and Jan Ketil Arnulf
The purpose of this paper is to show that the Guanxi characteristics in Chinese business culture may add to the understanding of foreign invested enterprise's (FIE) successful…
Abstract
Purpose
The purpose of this paper is to show that the Guanxi characteristics in Chinese business culture may add to the understanding of foreign invested enterprise's (FIE) successful marketing in China.
Design/methodology/approach
The authors surveyed the entry mode of 296 FIEs in China and examined their way of adapting marketing strategy to local culture. The authors used a conceptual model hypothesizing a system of variables that the authors subsequently tested using structural equation modeling.
Findings
Market orientation was insufficient to obtain marketing capability in China. FIE marketing capability in China was dependent on Guanxi and learning orientation, showing the need for contextualization of marketing approaches.
Research limitations/implications
This paper enriches previous research on marketing and makes a contribution to the existing literature on practical management in China. It is also relevant for marketing in other markets in transition.
Practical implications
FIEs may develop these capabilities on their own or succeed trough partnering in China. The study also points at similar mechanisms in other emerging markets and economies in transition from previous socialist economies.
Originality/value
The authors attempt to explore the main factors driving the marketing capabilities of FIEs in China. Few articles have shown how foreign companies may adopt Guanxi orientation to do this, which is the object of the present study.
Details
Keywords
This study investigates the relationship between outside directors, managerial compensation, and firm performance in the Korean insurance industry.
Abstract
Purpose
This study investigates the relationship between outside directors, managerial compensation, and firm performance in the Korean insurance industry.
Design/methodology/approach
The authors employ a simultaneous equation framework by using three-stage least squares (3SLS) to address the endogeneity problems that could result from the joint determination of outside directors, firm performance, and executive compensation in Korean insurance companies.
Findings
The authors find that the ratio of outside directors on the board is negatively associated with insurance firm's value and financial profitability. In addition, this study's evidence shows that greater representation on the board by outside directors leads to a higher level of executive pay. In particular, the authors provide evidence that variable compensation scheme and outside directors who have backgrounds in the legal profession and former high-ranking government officials drive this study's main results.
Originality/value
This study adds to the literature by first demonstrating the interaction effects between outside directors, firm performance, and executive compensation in the Korean insurance industry. Unlike previous studies that typically focus on US companies, the authors study the Korean insurance sector that is an emerging power in the global insurance market, ranking seventh in terms of total premium volume, and show that the Korean insurance firm's outside directors system does not work in the manner that it is intended to function.
Details
Keywords
Zhe Wang, Xisheng Li, Xiaojuan Zhang, Yanru Bai and Chengcai Zheng
How to model blind image deblurring that arises when a camera undergoes ego-motion while observing a static and close scene. In particular, this paper aims to detail how the…
Abstract
Purpose
How to model blind image deblurring that arises when a camera undergoes ego-motion while observing a static and close scene. In particular, this paper aims to detail how the blurry image can be restored under a sequence of the linear model of the point spread function (PSF) that are derived from the 6-degree of freedom (DOF) camera’s accurate path during the long exposure time.
Design/methodology/approach
There are two existing techniques, namely, an estimation of the PSF and a blind image deconvolution. Based on online and short-period inertial measurement unit (IMU) self-calibration, this motion path has discretized a sequence of the uniform speed of 3-DOF rectilinear motion, which unites with a 3-DOF rotational motion to form a discrete 6-DOF camera’s path. These PSFs are evaluated through the discrete path, then combine with a blurry image to restoration through deconvolution.
Findings
This paper describes to build a hardware attachment, which is composed of a consumer camera, an inexpensive IMU and a 3-DOF motion mechanism to the best of the knowledge, together with experimental results demonstrating its overall effectiveness.
Originality/value
First, the paper proposes that a high-precision 6-DOF motion platform periodically adjusts the speed of a three-axis rotational motion and a three-axis rectilinear motion in a short time to compensate the bias of the gyroscope and the accelerometer. Second, this paper establishes a model of 6-DOF motion and emphasizes on rotational motion, translational motion and scene depth motion. Third, this paper addresses a novel model of the discrete path that the motion during long exposure time is discretized at a uniform speed, then to estimate a sequence of PSFs.
Details
Keywords
Chinthaka Niroshan Atapattu, Niluka Domingo and Monty Sutrisna
Cost overrun in infrastructure projects is a constant concern, with a need for a proper solution. The current estimation practice needs improvement to reduce cost overruns. This…
Abstract
Purpose
Cost overrun in infrastructure projects is a constant concern, with a need for a proper solution. The current estimation practice needs improvement to reduce cost overruns. This study aimed to find possible statistical modelling techniques that could be used to develop cost models to produce more reliable cost estimates.
Design/methodology/approach
A bibliographic literature review was conducted using a two-stage selection method to compile the relevant publications from Scopus. Then, Visualisation of Similarities (VOS)-Viewer was used to develop the visualisation maps for co-occurrence keyword analysis and yearly trends in research topics.
Findings
The study found seven primary techniques used as cost models in construction projects: regression analysis (RA), artificial neural network (ANN), case-based reasoning (CBR), fuzzy logic, Monte-Carlo simulation (MCS), support vector machine (SVM) and reference class forecasting (RCF). RA, ANN and CBR were the most researched techniques. Furthermore, it was observed that the model's performance could be improved by combining two or more techniques into one model.
Research limitations/implications
The research was limited to the findings from the bibliometric literature review.
Practical implications
The findings provided an assessment of statistical techniques that the industry can adopt to improve the traditional estimation practice of infrastructure projects.
Originality/value
This study mapped the research carried out on cost-modelling techniques and analysed the trends. It also reviewed the performance of the models developed for infrastructure projects. The findings could be used to further research to develop more reliable cost models using statistical modelling techniques with better performance.