• The Journal of Asian Finance, Economics and Business
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• v.8 no.2
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• pp.759-770
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• 2021

Using a DCC - GARCH model analysis, this paper examines the existence of financial contagion from the U.S. stock market to the Vietnamese and the Philippine stock markets during the global financial crisis and the COVID-19 pandemic crisis. We use daily data from the S&P 500 (U.S.), VN-Index (Vietnam), and the PSEi (the Philippines). As a result, there is no evidence of contagion from the U.S stock market to the Philippine stock market that can be found during global financial crisis, while the Vietnamese market is influenced by this effect. Besides, both these developing stock markets (the Vietnamese and Philippine stock markets) are influenced by the contagion effect in COVID-19 pandemic crisis. Another finding is that the contagion effect during the coronavirus pandemic crisis in Vietnam is smaller than that during the global financial crisis, however, the opposite is the case for the Philippines. It is noticed that the Philippines seems to be more affected by the contagion effect from the COVID-19 pandemic than Vietnam at the time of this study. Because financial contagion is important for monetary policy, asset pricing, risk measurement, and portfolio allocation, the findings in this paper may give some useful information for policymakers and investors.

• Journal of the Korean Operations Research and Management Science Society
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• v.20 no.2
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• pp.39-60
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• 1995

In this paper, an integration of stochastic dynamic programming (SDP), integer goal programming (IGP) and analytic hierarchy process (AHP) is proposed to handle multiobjective-multicriteria sequential decision making problems under uncertainty inherent in R & D investment planning. SDP has its capability to handle problems which are sequential and stochastic. In the SDP model, the probabilities of the funding levels in any time period are generated using a subjective model which employs functional relationships among interrelated parameters, scenarios of future budget availability and subjective inputs elicited from a group of decision makers. The SDP model primarily yields an optimal investment planning policy considering the possibility that actual funding received may be less than anticipated one and thus the projects being selected under the anticipated budget would be interrupted. IGP is used to handle the multiobjective issues such as tradoff between economic benefit and technology accumulation level. Other managerial concerns related to the determination of the optimal project portifolio within each stage of the SDP model. including project selection, project scheduling and annual budget allocation are also determined by the IGP. AHP is proposed for generating scenario-based transformation probabilities under budgetary uncertainty and for quantifying the environmental risk to be considered.

• Environmental and Resource Economics Review
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• v.17 no.4
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• pp.719-749
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• 2008

Using the cost-risk portfolio approach, this study suggests a fiscal budgeting model that provide a measure to allocate fiscal budget among the strategies responding to oil crisis. In addition, it calculates the appropriate fiscal distribution among policy measures for the 2000 to 2006 fiscal years. According to the empirical results, a certain amount of budget should be allocated to the option using futures markets. The strategic stockpiling option turns out be hard to be included in the policy portfolio due to its costs much higher that the other options. Oil well development option should take more than half of total budget since its expenses are assumed to be relatively low.

• The Korean Journal of Financial Management
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• v.26 no.3
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• pp.139-169
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• 2009

This paper introduces the modified VaR which takes into account the asymmetry and fat-tails of financial asset distribution, and then compares its out-of-sample forecast performance with traditional VaR model such as historical simulation model and Riskmetrics. The empirical tests using stock indices of 6 countries showed that the modified VaR has the best forecast accuracy. At the test of independence, Riskmetrics and GARCH model showed best performances, but the independence was not rejected for the modified VaR. The Monte Carlo simulation using skew t distribution again proved the best forecast performance of the modified VaR. One of many advantages of the modified VaR is that it is appropriate for measuring VaR of the portfolio, because it can reflect not only the linear relationship but also the nonlinear relationship between individual assets of the portfolio through coskewness and cokurtosis. The empirical analysis about decomposing VaR of the portfolio of 6 stock indices confirmed that the component VaR is very useful for the re-allocation of component assets to achieve higher Sharpe ratio and the active risk management.

• Proceedings of the Korean Society of Soil and Groundwater Environment Conference
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• 2000.05a
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• pp.59-63
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• 2000

At military bases, environmental restoration activities resulting from oil contamination are growing concerns of preventing adverse effects on human health and environments. Its technologies are still under developing stage through some countries such as United States and Germany. This study is focused on developing model for a decision-maker to assist the restoration priority under the situation of limited resources such as budget and time. The Model, named the Base Restoration Priority Decision model(BRP model), is composed of the three factors : oil contaminants receptors, and the potential migration pathways. Each risk rating of factor is combined in the 27 matrix blocks and set immediate, moderate, and delayed action category designated restoration priority. This is categorized to group sites into three degree using the simplest of assessment system. As a result, the model will be able to apply to the effective allocation of resources for the restoration by any decision-maker because the model is easy to understand. Also, the continuous study will have established risk assessment system for the restoration of contaminated military with this study as the starting point.

• Journal of Korea Water Resources Association
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• v.30 no.2
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• pp.177-191
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• 1997

The influences of the space allocation of design rainfall and partition of the subbasin on the characteristics of urban storm runoff was investigated for the 6 drainage basins by applying SWMM model. It show the deviation of -54.68∼18.77% in the peak discharge when we applied the composed JUFF quantiles to the two zones which are divided by upper and lower region of the basin. Then it is compared with the value for the case of using uniform rainfall distribution all over the drainage. Therefore, it would be helpful to decrease the flood risk when we adopt the space distribution of the design rainfall. The effects of the partitioning the drainage on the computing result shows various responses because of the surface characteristics of the each basin such as slope, imperviousness ratio, buy we can get closer result to the measured value as we make the subbasin detailed. If we use the concept of the skewness and area ratio when we determine the width of subbasin, we can improve the computed result even with fewer number of subbasins. We expect reasonable results which close into the measured results in the range of relative error, 25%, when we divide the basin into more than 3 subbasins and the total urban drainage area is less than 10$\textrm{km}^2$.

• Korean Journal of Remote Sensing
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• v.38 no.5_3
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• pp.873-885
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• 2022

The particulate matter (PM) has emerged as a hot topic around the world as it has been reported that PM is related to an increase in mortality and prevalence rates. In South Korea, the importance of PM has been recognized since the late 1990s, and various studies on PM have been conducted. This study investigated the PM research topics and trends for papers (D=2,764) published in Research Information Sharing Service (RISS) using topic modeling based on Latent Dirichlet Allocation (LDA). As a result, a total of 10 topics were identified in the whole papers, and the PM research topics were classified as 'PM reduction (Topic 1)', 'Government policy and management (Topic 2)', 'Characteristics of PM (Topic 3)', 'PM model (Topic 4)', 'Environmental education (Topic 5)', 'Bio (Topic 6)', 'Traffic (Topic 7)', 'Asian dust (Topic 8)', 'Indoor PM (Topic 9)', 'Human risk (Topic 10)'. In particular, the proportion of papers on topics 'Government policy and management (Topic 2)', 'PM model (Topic 4)', 'Environmental education (Topic 5)', and 'Bio (Topic 6)' to the toal number of papers increased over time (linear slope > 0). The results of this study provide the new literature review methodology related to particulate matter and the history and insight.

• Journal of Information Science Theory and Practice
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• v.7 no.4
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• pp.56-64
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• 2019

Planting intercropping in rubber plantations is another alternative for generating more income for farmers. However, farmers still lack the knowledge of choosing plants. In addition, information for decision making comes from many sources and is knowledge accumulated by the expert. Therefore, this research aims to create a decision support system for growing rubber trees for individual farmers. It aims to get the highest income and the lowest cost by using semantic web technology so that farmers can access knowledge at all times and reduce the risk of growing crops, and also support the decision supporting system (DSS) to be more intelligent. The integrated intercropping ontology and rule are a part of the decision-making process for selecting plants that is suitable for individual rubber plots. A list of suitable plants is important for decision variables in the allocation of planting areas for each type of plant for multiple purposes. This article presents designing and developing the intercropping ontology for DSS which defines a class based on the principle of intercropping in rubber plantations. It is grouped according to the characteristics and condition of the area of the farmer as a concept of the rubber plantation. It consists of the age of rubber tree, spacing between rows of rubber trees, and water sources for use in agriculture and soil group, including slope, drainage, depth of soil, etc. The use of ontology for recommended plants suitable for individual farmers makes a contribution to the knowledge management field. Besides being useful in DSS by offering options with accuracy, it also reduces the complexity of the problem by reducing decision variables and condition variables in the multi-objective optimization model of DSS.

• Clinical and Experimental Pediatrics
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• v.63 no.1
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• pp.20-24
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• 2020

Background: Predicting the prognosis of patients admitted to the pediatric intensive care unit (PICU) is very important in determining further management and resource allocation. The prognostication of critically ill children can be challenging; hence, accurate methods for predicting outcomes are needed. Purpose: To evaluate the role of microalbuminuria at admission as a prognostic marker in comparison to standard Pediatric Risk of Mortality (PRISM) and Pediatric Logistic Organ Dysfunction (PELOD) mortality scores in children admitted to the PICU. Methods: This cross-sectional study was conducted from January 2015 to October 2016. Eighty-four patients aged 1 month to 18 years admitted to the PICU of teaching hospitals for more than 24 hours were enrolled by convenience sampling method. Microalbuminuria was estimated by spot urinary albumin-creatinine ratio. PRISM and PELOD scores were calculated using an online calculator. Outcome measures were PICU length of stay, inotrope usage, multiorgan dysfunction, and survival. ACR was compared with mortality scores for predicting survival. Results: Microalbuminuria was present in 79.8% with a median value of 85 mg/g (interquartile range, 41.5-254 mg/g). A positive correlation was found between albumin-creatinine ratio and PICU length of stay (P=0.013, r=0.271). Albumin-creatinine ratio was significantly associated with organ dysfunction (P=0.004) and need for inotropes (P=0.006). Eight deaths were observed in the PICU. The area under the curve for mortality for albumin-creatinine ratio (0.822) was comparable to that for PRISM (0.928) and PELOD (0.877). Albumin-creatinine ratio >109 mg/g predicted mortality with a sensitivity of 87.5% and specificity of 63.2%. Conclusion: Microalbuminuria is a good predictor of PICU outcomes comparable with mortality scores.

• Asia-Pacific Journal of Business
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• v.14 no.4
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• pp.87-113
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• 2023

Purpose - Focusing on Haier, a successful corporate venture in China, we analyse the operating mechanism and success factors of corporate venture, and reveal the necessary factors for the successful implementation of corporate venture. Design/methodology/approach - This study is a single case study centred on Haier, a successful corporate venture in China. Findings - The operational process of Haier's corporate venture includes six key aspects: project selection, team building, resource allocation and support, project implementation, risk control measures, performance evaluation and rewards. In terms of success factors, the support of top management with leadership capability of value creation and sharing is very important for the success of corporate venture. Secondly, a multi reward mechanism can be introduced to motivate employees and improve performance. Thirdly, it is important to integrate corporate culture into the operating mechanism of an corporate venture. Fourthly, flexible operations that break down rigid organisational boundaries and transform the organisation into a more open platform for entrepreneurship can increase the likelihood of success. Finally, empowering employees with operational discretion can also have a positive impact on the success of an Corporate Venture. Research implications or Originality - This study contributes to theory and practice by analysing the success conditions of corporate venture, providing new understanding and drawing new perspectives, especially from the experience of Haier. The results suggest strategies and flexibility for successfully pursuing corporate venture, and provide important experience for international companies to help them gain competitive advantage in global competition. It also helps corporate leaders to promote new directions and innovations and improve their strategies to respond to dynamic environments.