• Title/Summary/Keyword: Diversification Constraints

Search Result 8, Processing Time 0.025 seconds

Weight Vector Analysis to Portfolio Performance with Diversification Constraints (비중 상한 제약조건에 따른 포트폴리오 성과에 대한 투자 비중 분석)

  • Park, Kyungchan;Kim, Hongseon;Kim, Seongmoon
    • Korean Management Science Review
    • /
    • v.33 no.4
    • /
    • pp.51-64
    • /
    • 2016
  • The maximum weight of single stock in mutual fund is limited by regulations to enforce diversification. Under incomplete information with added constraints on portfolio weights, enhanced performance had been reported in previous researches. We analyze a weight vector to examine the effects of additional constraints on the portfolio's performance by computing the Euclidean distance from the in-sample tangency portfolio, as opposed to previous researches which analyzed ex-post return only. Empirical experiment was performed on Mean-variance and Minimum-variance model with Fama French's 30 industry portfolio and 10 industry portfolio for the last 1,000 months from August 1932 to November 2015. We find that diversification-constrained portfolios have 7% to 26% smaller Euclidean distances with the benchmark portfolio compared to those of unconstrained portfolios and 3% to 11% greater Sharpe Ratio.

Solving the Constrained Job Sequencing Problem using Candidate Order based Tabu Search (후보순위 기반 타부 서치를 이용한 제약 조건을 갖는 작업 순서결정 문제 풀이)

  • Jeong, Sung-Wook;Kim, Jun-Woo
    • The Journal of Information Systems
    • /
    • v.25 no.1
    • /
    • pp.159-182
    • /
    • 2016
  • Purpose This paper aims to develop a novel tabu search algorithm for solving the sequencing problems with precedence constraints. Due to constraints, the traditional meta heuristic methods can generate infeasible solutions during search procedure, which must be carefully dealt with. On the contrary, the candidate order based tabu search (COTS) is based on a novel neighborhood structure that guarantees the feasibility of solutions, and can dealt with a wide range of sequencing problems in flexible manner. Design/methodology/approach Candidate order scheme is a strategy for constructing a feasible sequence by iteratively appending an item at a time, and it has been successfully applied to genetic algorithm. The primary benefit of the candidate order scheme is that it can effectively deal with the additional constraints of sequencing problems and always generates the feasible solutions. In this paper, the candidate order scheme is used to design the neighborhood structure, tabu list and diversification operation of tabu search. Findings The COTS has been applied to the single machine job sequencing problems, and we can see that COTS can find the good solutions whether additional constraints exist or not. Especially, the experiment results reveal that the COTS is a promising approach for solving the sequencing problems with precedence constraints. In addition, the operations of COTS are intuitive and easy to understand, and it is expected that this paper will provide useful insights into the sequencing problems to the practitioners.

Breaking Limitations: Constraints and Strategies of Indonesian Migrant Entrepreneurship in Taiwan

  • Rita Pawestri Setyaningsih;Paulus Rudolf Yuniarto;Yuherina Gusman
    • SUVANNABHUMI
    • /
    • v.15 no.2
    • /
    • pp.187-213
    • /
    • 2023
  • As migrants develop businesses abroad, entrepreneurship needs specific strategies due to some barriers when establishing and doing businesses. This paper examines the kinds of problems that have been faced in Indonesian migrant entrepreneurships in Taiwan and how the entrepreneurs cope with the difficulties. They use structural and cultural strategies for survival, seize the opportunities for self-development, and develop future careers. Research result shows that the limitations of Indonesian entrepreneurships in Taiwan are related to institutional issues, migrant status, business regulations, resource-providing institutions, language barriers, competition among migrants and locals, and capital. Hence, migrant entrepreneurs must conduct strategic actions to continue their businesses by developing innovations to grow and survive. Some measures include changing from offline to online marketing especially when the COVID-19 pandemic hit, product diversification using migrants and local people's assistance and networks, and setting competitive prices. This paper is based on qualitative research. The data were obtained through interviews in East Java-Indonesia and in Taiwan in 2022. The data were analysed using the descriptive analysis with sociological perspectives.

Multi-objective optimal design of laminate composite shells and stiffened shells

  • Lakshmi, K.;Rama Mohan Rao, A.
    • Structural Engineering and Mechanics
    • /
    • v.43 no.6
    • /
    • pp.771-794
    • /
    • 2012
  • This paper presents a multi-objective evolutionary algorithm for combinatorial optimisation and applied for design optimisation of fiber reinforced composite structures. The proposed algorithm closely follows the implementation of Pareto Archive Evolutionary strategy (PAES) proposed in the literature. The modifications suggested include a customized neighbourhood search algorithm in place of mutation operator to improve intensification mechanism and a cross over operator to improve diversification mechanism. Further, an external archive is maintained to collect the historical Pareto optimal solutions. The design constraints are handled in this paper by treating them as additional objectives. Numerical studies have been carried out by solving a hybrid fiber reinforced laminate composite cylindrical shell, stiffened composite cylindrical shell and pressure vessel with varied number of design objectives. The studies presented in this paper clearly indicate that well spread Pareto optimal solutions can be obtained employing the proposed algorithm.

Integrated Tree Crops-ruminants Systems in South East Asia: Advances in Productivity Enhancement and Environmental Sustainability

  • Devendra, C.
    • Asian-Australasian Journal of Animal Sciences
    • /
    • v.24 no.5
    • /
    • pp.587-602
    • /
    • 2011
  • Improved efficiency in the use of natural resources, pragmatic production systems and environmental sustainability, justified by the need for improved land use systems and increased productivity, are discussed in the context of Asian integrated systems, diversification, and issues of sustainability. The importance of these are reflected by serious inadequate animal protein production throughout Asia, where available supplies cannot match current and projected human requirements up to 2050. Among the ruminant production systems, integrated tree crops-ruminant production systems are grossly underestimated and merit emphasis and expansion. As an example, integrated oil palm- based system is an important pathway for integration with ruminants (buffaloes, cattle, goats and sheep), and provides the entry point for development. The importance and benefits of integrated systems are discussed, involving animals with annual and perennial tree crops, integration with aquaculture, the significance of crop-animal interactions, stratification of the systems, production options, improved use of forages and legumes, potential for enhanced productivity, implications for improved livelihoods of the rural poor and the stability of farm households. The advances in research and development in South East Asia highlight demonstrable increased productivity from animals and meat offtakes, value addition to the oil palm crop, sustainable development, and distinct economic impacts. The results from 12 out of a total of 24 case studies concerning oil palm over the past three decades showed increased yield of 0.49-3.52 mt of fresh fruit bunches (FFB)/ha/yr; increased income by about 30%; savings in weeding costs by 47- 60% equivalent to 21-62 RM/ha/yr; and an internal rate of return of 19% based on actual field data. The results provide important socio-economic benefits for resource-poor small farmers. Potential increased offtakes and additional income exist with the integration of goats. Additionally, the potential for carbon sequestration with tree crops is an advantage. The reasons for low adoption of the syatems are poor awareness of the potential of integrated systems, resistance by the crop- oriented plantation sector, and inadequate technology application. Promoting wider expansion and adoption of the systems in the future is linked directly with coherent policy, institutional commitment, increased investments, private sector involvement, and a stimulus package of incentives.

An Empirical Study on Future New Technology in Defense Unmanned Robot (국방 무인로봇 분야 미래 신기술에 관한 실증연구)

  • Kim, DoeHun
    • Journal of the Korea Academia-Industrial cooperation Society
    • /
    • v.19 no.4
    • /
    • pp.611-616
    • /
    • 2018
  • With the recent increase in awareness of the diversification of patterns of warfare and security, technological evolution is occurring in the field of autonomous defense robots. As defense science and technology develops with the development of the concept of military utilization focusing on human lives and economic operation, the importance of autonomous robots in the effect-oriented future battlefield is increasing. The major developed countries have developed core technologies, investment strategies, priorities, data securing strategies and infrastructure development related to the field of autonomous defense robots, and research activities such as technology planning and policy strategy for autonomous defense robots in Korea have already begun. In addition, the field of autonomous defense robots encompasses technologies that represent the fourth industrial revolution, such as artificial intelligence, big data, and virtual reality, and so the expectations for this future area of technology are very high. It is difficult to predict the path of technological development due to the increase in the demand for new rather than existing technology. Moreover, the selection and concentration of strategic R&D is required due to resource constraints. It is thought that a preemptive response is needed. This study attempts to derive 6 new technologies that will shape the future of autonomous defense robots and to obtain meaningful results through an empirical study.

Establishment of Bank Channel Strategy using Correspondence Analysis : Based on the Customer's Choice Factors of Bank Channel (대응분석을 이용한 은행 채널전략 수립연구 : 고객의 은행채널 선택요인을 바탕으로)

  • Park, Un Hak;Park, Young Bae
    • Journal of Korea Society of Industrial Information Systems
    • /
    • v.28 no.6
    • /
    • pp.151-171
    • /
    • 2023
  • For the efficient establishment of a channel strategy for banks, this study aims to propose a channel model by classifying channels into types, and carrying out a correspondence analysis per type. A survey of bankers was conducted to visualize categorical data and create a positioning map. As a result, first, 12 banking channels were classified into 4 types based on business processing subjects and places, which were then, further grouped into the categories of full-banking and self-banking. Second, a correspondence analysis according to the classified types was carried out, and it was found that the branch-type is suitable for product description and customer management, while the banking-type is suitable for efficient business processing without time and space constraints. Furthermore, the analysis also showed that the machine-type and banking-type are inappropriate for customer management, and the mobility-type demonstrates low operational effectiveness due to a lack of awareness. The aforementioned findings suggest the need for a hybrid convergence channel that reflects the characteristics of banking tasks and fills in the gaps between the different channels. Third, a channel model was derived by adding a common area to the 2×2 model consisting of the business processing subjects and places. Therefore, this study is meaningful in that it examines the diversification of channels and factors in the division of roles by channel type based on customers' banking channel selection factors, and presents basic research findings for future channel strategy establishment and efficient channel operation.

Meteorological Constraints and Countermeasures in Rice Breeding -Breeding for cold tolerance- (기상재해와 수도육종상의 대책 - 내냉성품종육성방안-)

  • Mun-Hue Heu;Young-Soo Han
    • KOREAN JOURNAL OF CROP SCIENCE
    • /
    • v.27 no.4
    • /
    • pp.371-384
    • /
    • 1982
  • Highly cold tolerant varieties are requested not only at high latitute cool area but also tropical high elevated areas, and the required tolerance is different from location to location. IRRI identified 6 different types of cold tolerance required in the world for breeding purpose; a) Hokkaido type, b) Suweon type, c) Taipei 1st season type, d) Taipei 2nd season type, e) Tropical alpine type and, f) Bangladesh type. The cold tolerance requested in Korea is more eargent in Tongil group cultivars and their required tolerance is the one such as the physiological activities at low temperature are as active as in Japonica group cultivars at least during young seedling stage and reproduction stage. With conventional Japonica cultivars, such cold tolerant characters are requested as short growth duration but stable basic vegetative growth, less sensitive to high temperature and less prolonged growth duration at low temperature. The methods screening for cold tolerance were developed rapidly after the Tongil cultivar was reliesed. The facilities of screening for cold tolerance, such as, low temperature incubator, cold water tank, growth cabinet, phytotron, cold water nursery in Chuncheon, breeding nursery located in Jinbu, Unbong and Youngduk, are well established. Foreign facilities such as, cold water tank with the rapid generation advancement facilities, cold nurseries located in Banaue, Kathmandu and Kashimir may be available for the screening of some limitted breeding materials. For the reference, screening methods applied at different growth stages in Japan are introduced. The component characters of cold tolerance are not well identified, but the varietal differences in a) germinability, b) young seedling growth, c) rooting, d) tillering, e) discolation, f) nutrition uptake, g) photosynthesis rate, h) delay in heading, i) pollen sterility, and j) grain fertility at low temperature are reported to be distinguishable. Relationships among those traits are not consistent. Reported studies on the inheritance of cold tolerance are summarized. Four or more genes are controlling low temperature germinability, one or several genes are controlling seedling tolerance, and four or more genes are responsible for the pollen fertility of the rice treated with cold air or grown in the cold water nursery. But most of those data indicate that the results may come out in different way if those were tested at different temperature. Many cold tolerant parents among Japonicas, Indicas and Javanicas were identified as the results of the improvement of cold tolerance screening techniques and IRTP efforts and they are ready to be utilized. Considering a) diversification of germ plasm, b) integration of resistances to diseases and insects, c) identification of adaptability of recommending cultivars and, d) systematic control of recommending cultivars, breeding strategies for short term and long term are suggested. For short term, efforts will be concentrated mainly to the conventional cultivar group. Domestic cultivars will be used as foundation stock and ecologically different foreign introductions such as from Hokkaido, China or from Taiwan, will be used as cross parents for the adjustment of growth durations and synthsize the prototype of tolerances. While at the other side, extreme early waxy Japonicas will be crossed with the Indica parents which are identified for their resistances to the diseases and insects. Through the back corsses to waxy Japonicas, those Indica resistances will be transfered to the Japonicas and these will be utilized to the crosses for the improvement of resistances of prototype. For the long term, efforts will be payed to synthsize all the available tolerances identified any from Japonicas, Indicas and Javanicas to diversify the germ plasm. The tolerant cultivars newly synthsized, should be stable and affected minimum. to the low temperature at all the growing stages. The resistances to the diseases and insects should be integrated also. The rapid generation advancement, pollen culture and international cooperations were emphasized to maximize the breeding efficiency.

  • PDF