• Korean Journal of Mathematics
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• 제16권2호
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• pp.233-242
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• 2008

We deal with the closed forms of European option pricing for the general class of volatility asset model and the jump-type volatility asset model by several methods.

• 한국경영과학회지
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• 제38권4호
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• pp.11-33
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• 2013

We analyzed the structures and properties of the global financial market networks using social network analysis approach. The Minimum Spanning Tree (MST) lengths and networks of the global financial markets based on the correlation coefficients have been analyzed. Firstly, similar to the previous studies on the global stock indices using MST length, the diversification effects in the global multi-asset portfolio can disappear during the crisis as the correlations among the asset class and within the asset class increase due to the system risks. Second, through the network visualization, we found the clustering of the asset class in the global financial markets network, which confirms the possible diversification effect in the global multi-asset portfolio. Meanwhile, we found the changes in the structure of the network during the crisis. For the last one, in terms of the degree centrality, the stock indices were the most influential to other assets in the global financial markets network, while in terms of the betweenness centrality, Gold, Silver and AUD. In the practical perspective, we propose the methods such as MST length and network visualization to monitor the change of the correlation risk for the risk management of the multi-asset portfolio.

• Human Ecology Research
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• 제56권2호
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• pp.175-193
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• 2018

This study identified the rate of income poverty and multidimensional poverty, correlation between income poverty and multidimensional poverty, and adjusted multidimensional poverty rate. We also analyzed the factors that affected the number of poverty dimension and the probability of belonging to the poor or not in 3,159 elderly households including 474 poor households and 2,685 middle class households. First, in poor households, the employment poverty rate was the highest and the housing poverty rate was the lowest. In middle class households, the relation poverty rate was the highest and the employment poverty rate was the lowest. Second, in poor households, correlation between asset poverty and relation poverty had the highest coefficient of .205 and asset poverty and housing poverty had the lowest coefficient of .149. In middle class households, the correlation between income poverty and relation poverty had highest coefficient of -.290 and employment poverty and relation poverty had the lowest coefficient of .038. Third, in poor households, the number of average poverty dimension was 4.30, but the number of average poverty dimensions of middle class households was 2.310. Fourth, the variable affecting the number of poverty dimensions in poor households were gender, age, level of education, marital status; however, the significant variables were gender, education level, marital status, income poverty in the middle class households. The variable that affected the probability of belonging to the poor or not in poor households was age. However, the significant variables were gender, education level, marital status, residence, and income poverty in middle class households.

• 한국건설관리학회논문집
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• 제12권4호
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• pp.40-49
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• 2011

최근 신도시 개발의 증가와 학습 효율성 증가를 위한 학급당 학생 수 축소 정책에 따라 BTL 사업의 신설 학교시설물이 증가하고 있다. 국외 SOC 시설물의 사례를 보면 어느 시점 이후 운영 유지관리 비용이 급격하게 상승되어 예산부족 현상이 나타나고 있다. 이에 따라 BTL 사업 학교시설 또한 어느 시점 이후 운영 유지관리 비용의 예산부족이 예상된다. 따라서 효율적인 운영관리를 위하여 필요한 비용을 최소화하고 질적으로 높은 서비스를 제공하기 위한 자산의 가치를 최대화 시킬 수 있는 자산관리의 도입이 시급한 실정이다. 본 논문에서는 국외 SOC에 적용된 자산관리 사례를 통해 BTL 사업 학교시설물에 적용 가능한 자산의 가치평가 프로세스를 정립하고, 시설물 세부 평가요소 및 내용을 도출하여 현재 국내 회계법을 기반으로 한 자산의 가치평가 기법을 제시하는 것을 목적으로 하였다. 이는 학교 시설물의 운영관리 예산계획에 정량적 기준으로 활용이 가능하고, BTL 사업 교육시설물에 적용 가능한 자산관리 개념의 도입을 촉진시킬 수 있다.

• 응용통계연구
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• 제25권2호
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• pp.239-249
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• 2012

We estimate nonlinear impulse responses of stock indices by asset class by the Local Projection method as suggested by Jorda (2005) to compute impulse responses. The method estimates impulse responses without the specification and estimation of the underlying multivariate dynamic system unlike the usual way of vector autoregression(VAR). It estimates Local Projections at each period of interest rather than extrapolating into increasingly distant horizons with the advantages of easy estimation and non-linear flexible specification. The Local Projection method adequately captures the nonlinearity and asymmetry of the impulse responses of the stock indices compared to those from VARs.

• 재무관리논총
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• 제2권2호
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• pp.171-211
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• 1995

Relatively little is known about the relationship between taxes and asset prices. Differential tax treatment of assets in the same risk class implies differential pricing. Conversely, the ability of tax-exempt investors to engage in tax arbitrage should drive any pricing differences away. The differential tax treatment of classes of US Treasury securities provides a straightforward setting for the examination of possible tax-effects in asset prices. Using the Cox-Ingersoll-Ross Term Structure Model as our framework, we examine the pricing of US Treasury securities over two distinct tax regimes. Evidence that tax effects are not arbitraged away is presented.

• 가정과삶의질연구
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• 제17권4호
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• pp.159-172
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• 1999

Relationships between socio-demographic variables and parents' education invest-ment motivation variables and extra-class private education expenditures were examined using a sample of 602 households in Inchon Korea. Tobit analysis was used. Singal-cognitive motivation parents' duty motivation household income housing asset father's occupation class and number of children had significant effects on extra-class private education expenditures on general high school students. To alleviate overspending in extra-class private education diploma pursuing society has to be changed and formal school education need to be properly functioning. Finally parents seek new child education paradigm for the creative labor demand in the next millenium.

• 사회복지연구
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• 제44권2호
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• pp.437-463
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• 2013

양극화와 세대간 계층재생산이 한국 사회의 심각한 사회문제로 여겨지는 상황에서, 동질적인 부모의 배경, 동일한 소득계층, 동일한 학력 간에 끼리끼리 이루어지는 동질혼의 증가가 사회적 주목을 받고 있다. 동질혼의 증가가 사회 이동의 폐쇄성을 강화함으로써 불평등을 심화시키고 세대간 계층 이동을 제한시킬 것이라는 우려 때문이다. 이 연구는 동질혼의 개념을 구성하는 부부의 성취적 특성 및 부모의 귀속적 특성이 가구의 경제적 상태를 대표하는 소득, 소비, 자산에 미치는 영향을 분석하고 있다. 이를 통하여 한국 사회의 세대내 불평등 및 세대간 계층이동성에 영향을 미치는 동질혼의 역할에 대한 실증적 이해에 기여하고자 하였다. 동질혼이 소득과 소비, 그리고 자산에 미치는 영향에 관한 다중회귀분석 결과, 동질혼의 성취적 특성으로는 고학력 동질혼이 소득과 소비 수준을 증가시키는 요인으로 나타났으며, 동질혼의 귀속적 특성으로는 아버지들의 교육적 동질혼이 자산수준을 증가시키는 요인으로 나타났다. 소득과 소비에는 동질혼의 성취적 특성이 영향을 미치는 반면, 자산에는 동질혼의 귀속적 특성이 유의미한 영향을 미치는 것으로 나타나, 세대간 이전이 소득보다 자산을 중심으로 영향을 미치고 있음을 발견하였다. 특히 20-30대 젊은 부부에게는 귀속적 특성이 자산에 대해서만 유의미한 영향을 미친다는 점도 밝혀졌다.

• KDI Journal of Economic Policy
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• 제25권1호
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• pp.3-54
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• 2003

본 연구는 공적자금상환을 위해 도입된 특별예금보험료 부과의 함의를 분석한다. 금융기관은 특별예금보험료를 추가적인 비용으로 인식하여 그 비용의 일부를 금융소비자에게 전가하려는 행위를 보일 것으로 예상된다. 계량분석 결과 금융기관은 금리에 민감하게 반응하는 대출보다는 예금으로 비용의 전가를 시도할 것으로 추정되었다. 그리고 부보대상예금의 상대적 비중이 고자산계층보다 저자산계층에서 높다는 가계자산 포트폴리오의 특징으로 인해 특별예금보험료 부과는 저자산계층에게 보유자산에 대비하여 상대적으로 높은 손실분담구조가 될 수 있음을 시사한다.

• Human Ecology Research
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• 제56권6호
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• pp.573-588
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• 2018

This study analyzed per capita consumption expenditure by the consumption quintile of Middle and Older Elderly Households and the variables that affected it. Sample of 2,983 households was collected from the 6th KLoSA in 2016. First, when comparing the HH's living expenses by the number of family members, two persons to a person ratio, more than six persons to a person ratio were 2.007 and 4.148, respectively. The ratio increased as the number of family member increased; however, the rate of ratio increase decreased. Second, the per capita living expenses for the first and fifth quintile were 5.11 million won and 16.93 million won at the per capita living expenses that applied the OECD's equivalence scale to the HH's living expenses. The per capita living expenses for the fifth quintile was 3.31 times higher than in the first quintile. Third, among the variables influencing per capita living expenses by the consumption quintile, the marital status was the significant for all consumption quintiles; however, HH's income, HH's total asset, HH's financial asset, pension, subjective perception of the economy class, home ownership, residence (metropolitan or small city), education (elementary school), participation groups were significant in some quintiles among all quintiles. Fourth, of the significant variables influencing per capita living expenses, the most influential variables were first quintile followed by second quintile, third quintile, fourth quintile, marital status, HH's income, home ownership, HH's total asset, participation groups, residence (metropolitan), subjective perception of the economy class, in order.