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A Study on Dynamic Asset Allocation Strategy for Optimal Portfolio Selection

  • Lee, Hojin
    • East Asian Economic Review
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    • v.25 no.3
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    • pp.310-336
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    • 2021
  • We use iterative numerical procedures combined with analytical methods due to Rapach and Wohar (2009) to solve for the dynamic asset allocation strategy for optimal portfolio demand. We compare different optimal portfolio demands when investors in each country have different access to overseas and domestic investment opportunities. The optimal dynamic asset allocation strategy without foreign investment opportunities leads domestic investors in Korea, Hong Kong, and Singapore to allocate more funds to domestic bonds than to domestic stocks. However, the U.S. investors allocate more wealth to domestic stocks than to domestic bonds. Investors in all countries short bills at a low level of risk aversion. Next, we investigate dynamic asset allocation strategy when domestic investors in Korea have access to foreign markets. The optimal portfolio demand leads investors in Korea to allocate most resources to domestic bonds and foreign stocks. On the other hand, the portfolio weights on foreign bonds and domestic stocks are relatively low. We also analyze dynamic asset allocation strategy for the investors in the U.S., Hong Kong, and Singapore when they have access to the Korean markets as overseas investment opportunities. Compared to the results when the investors only have access to domestic markets, the investors in the U.S. and Singapore increase the portfolio weights on domestic stocks in spite of the overseas investment opportunities in the Korean markets. The investors in the U.S., Hong Kong, and Singapore short domestic bills to invest more than initial funds in risky assets with a varying degree of relative risk aversion coefficients without exception.

A Quality Comparative Study on the Tomato Product in Korean Markets (I) - An Analytical Report on the Nutritive Ingredients and the Standardization of Duality of Tomato Katchup Marketed - (시판(市販) 도마도 가공품(加工品)의 품질(品質) 비교연구(比較硏究)(I) - 도마도 켓찹을 중심(中心)으로 -)

  • Rho, Sook-Nyung
    • Journal of the Korean Society of Food Science and Nutrition
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    • v.8 no.1
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    • pp.9-14
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    • 1979
  • The consumption of catchup is increasing due to the raising of income level and food industry and westernization of dietary life followed by economic growth. In this paper I picked up three kinds of food produced by two foreign food companies and three kinds of food by two domestic companies. The average results by experimentation on the nutritive ingredients and the standard quality was as follows; A. Nutritve ingredients; 1) Water content a) Domestic 68.3% b) Foreign 69.1% 2) Protein content a) Domestic 2.2 g b) Foreign 2.1 g 3) Fat content a) Domestic 0.1 g b) Foreign 0.1 g 4) Carbohydrate content a) Domestic 25.1 g b) Foreign 24.6 g 5) Mineral content (Ash) a) Domestic 4.4 g b) Foreign 3.9 g 6) Calcium content a) Domestic 33.5 mg b) Foreign 24.2 mg 7) Phosphorus content a) Domestic 16.1 mg b) Foreign 24.2 mg 8) Vitamin C content a) Domestic 14.6mg b) Foreign 16.0 mg B. Standard quality 1) Remains after evaporation a) Domestic 41.7% b) Foreign 38.4% 2) Free mineral acid content a) Domestic none b) Foreign none 3) Tar chromatophore a) Domestic $trace(Acid)^+$ b) Foreign none 4) Heavy metalic $elements^*$ 5) Sodium chloride content a) Domestic 3.3% b) Foreign 3.3% 6) pH level a) Domestic 3.83 b) Foreign 3.76 + The tar chromatophore elements could not be accurately measured by chromatography. * The heavy metalic elements were both under safety levels in the domestic and foreign products.

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A study on the prediction of the generation of domestic sewage by improvement of water demand estimation (생활용수 수요추정방법 개선에 의한 하수발생량 예측에 관한 연구)

  • 김재윤
    • Journal of Environmental Science International
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    • v.11 no.12
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    • pp.1275-1279
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    • 2002
  • This study was performed to improve water demand estimation and analize correlation between generation of domestic sewage and domestic water use. To improve the prediction of water demand estimation, new water demand equation was developed. The results is as follows. $InQ_t = {\beta}_0+{\beta}_1InP_t+{\beta}_2InY_t+{\beta}_3InH_t+{varepsilon}_t$By using the statistical analysis of the "generation of domestic sewage" and "domestic water use", the regression equation between them is formed. The result is as follows. Generation of domestic sewage : 0.8487 $\times$ Domestic water use + 684.57 ($R^2$= 0.972)>$R^2$= 0.972)

Married Women's Opinion of the Spouse's Punishment in Domestic Violence Cases (가정폭력에 대한 기혼여성의 배우자 처벌에 대한 견해)

  • Lee, Kyu-Eun
    • Women's Health Nursing
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    • v.12 no.3
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    • pp.193-203
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    • 2006
  • Purpose: The purpose of this study was to investigate current circumstances of violence against wives, and to identify the wife's opinion of the spouse's punishment in domestic violence cases. Method: The subjects were 216 married women in G province. Data was gathered from November 22 to December 6, 2004. Data was analyzed by descriptive statistics, and the $x^2$-test using SPSS/Win 10.0 program. Results: About thirty six percent of the subjects had experience with domestic violence. There was a high prevalence of psychological aggression(68%), sexual coercion (36%), physical assault(31%), and injury(19%). The subjects experiencing domestic violence had a higher positive attitude towards the spouse's punishment than subjects not experiencing domestic violence. The more severe the domestic violence was, the more the battered women's positive attitude for criminal action increased. Conclusion: An educational program and public relations will increase women's empowerment to solve domestic violence. A more cooperative and integrative program for prevention and an intervention system against domestic violence should be developed for women in battered situations.

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Determination of Heavy Metal Contents in Medicinal Herb (유통 한약재의 중금속 함량 조사)

  • Lee, Mi-Kyung;Park, Jung-Suk;Lim, Hyun-Cheol;Na, Hwan-Sik
    • Food Science and Preservation
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    • v.15 no.2
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    • pp.253-260
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    • 2008
  • Comparative study was performed on heavy metal contents among domestic herbal medicines and imported one. The heavy metal contents in 89 samples of 65 types of herbal medicines were measured by inductively coupled plasma atomic emission spectrometry (ICP-AES) and mercury analyzer. The mean values of heavy metal contents (mg/kg) for herbal medicines were as follows: Hg, 0.010 (domestic: 0.010, imported: 0.010); Pb, 0.380 (domestic: 0.311, imported: 0.449); Cd, 0.080 (domestic: 0.101, imported: 0.059); As, 2.085 (domestic: 1.845, imported: 2.324); Mn, 31.564 (domestic: 33.844, imported: 29.283); Zn, 15.436 (domestic: 18.703, imported: 12.168); Cu, 3.406 (domestic: 3.374, imported: 3.437); Fe, 134.944 (domestic: 108.327, imported: 161.561). The measured values of Hg, Pb and Cd of domestic and imported herbal medicines showed lower levels than the recommended levels of those in herbal medicines by WHO/PHARM (Pb : not more than 5 mg/kg, Cd : not more than 0.3 mg/kg). This results will he used as a basic data for the future legislation on the regulation and control of heavy metal contents of herbal medicines.

Factors on Help-seeking Behaviors among the Disabled Experiencing Domestic Violence (가정폭력 피해 장애인의 외부도움요청 영향 요인)

  • Kim, Jae-Yop;Yi, Min-Gyeong;Park, Ji-Min
    • Journal of Families and Better Life
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    • v.31 no.5
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    • pp.109-123
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    • 2013
  • This study aims to investigate the factors on help-seeking behaviors among the disabled experiencing lifelong domestic violence and suggest practical plans to address the problems. According to an analysis of the data of the "2010 Domestic Violence Survey of South Korea", the occurrence rate of lifelong physical violence is 12.1% and that of severe physical violence is 6.2% among 273 adults with disabilities. The rate of help-seeking among the disabled experiencing lifelong domestic violence is 26.3%, which means two-thirds of the disabled experiencing domestic violence do so for a long time. The results of the study show that the experience of severe physical violence(p<.05), attitudes toward violence(p<.05), and awareness of domestic violence and related laws(p<.05) were found to have an impact on help-seeking behaviors among adults with disabilities experiencing domestic violence. However, an accepting attitude of disability and social connections of disabled were not found to have an impact on help-seeking behaviors. Based on these results, this study suggested raising awareness about domestic violence among the disabled, educating people with disabilities not to tolerate violence and informing them about the domestic violence-related legal system, and training service professionals (social workers, health professionals etc.) to screen the disabled for domestic violence and prevent them from becoming domestic violence victims.

The Influencing Factors on the Police Officer's Recognition to Domestic Violence - Centering around wife abuse - (가정폭력에 대한 경찰의 인식에 영향을 미치는 요인 - 아내학대를 중심으로 -)

  • Hwang, Mi-Jin;Song, Ki-Chun;Oh, Kwang-Sil;Yu, Hyun-Suk;Ha, Sang-Hee
    • Journal of Families and Better Life
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    • v.28 no.6
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    • pp.113-123
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    • 2010
  • The purpose of this study is to understand police officers' perceptions and influential factors on their recognition of domestic violence. The participants of the present study were 226 police officers around Iksan province, and the data were collected by the self-administered questionnaire method. The major results of this research were as follows. First, 55.3% of the respondents had received training on domestic violence. Second, 64.6% of police officers had experienced cases of domestic violence, and 65.4% of them had chosen passive action in domestic violence situations. Third, there was a significant positive correlation between gender equality consciousness and knowledge of the domestic violence prevention act, and the police officer's recognition of domestic violence. Fourth, there was a significant negative correlation between possible violence and the intervening attitudes of the police officers, and the police officers' recognition of domestic violence. Finally, multiple regression analysis was performed to find out the general characteristics of the participants and associated variables. It was found that the domestic violence experience of police officers was the most powerful predictor of their recognition of domestic violence. Gender equality consciousness, knowledge of the domestic violence prevention act, and the intervening attitudes of police officers were the next powerful predictors of police officers' recognition of domestic violence.

A Study on Promotion of Domestic Timber Utilization According to Dwelling Type Comparison of Between Korea and Japan (한일 주거형태 비교에 의한 국산재 이용 증진 방안 고찰)

  • Yeon, Jung-Youn;Pi, Duck-Won;Kang, Seog-Goo
    • Journal of the Korea Furniture Society
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    • v.24 no.1
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    • pp.51-59
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    • 2013
  • In this study, a dwelling type of Korea and Japan was compared, and consumption rate of domestic timber and its usage was also investigated. In Korea, dwelling type of apartment which constructed by iron and steel-concrete is main shared, but a detached house which is shared at 60% of dwelling type of Japan is mainly constructed by timber. And the rate of the consumption of domestic wood in Japan is 73%. In Japan, there is an effort to substitute imported wood to domestic timber through the promotion of using of domestic timber. Whereas the needs on using of domestic timber gradually emerged. So, the legal about sustainable use of wood is approved by the National Assembly on May 2012. There is not active movement in the aspect of using of domestic timber yet. These causes to the geographical and environmental characteristics, but industry, policy, and the difference of recognize on domestic timber utilization is thought to do greater influence. Hence, it is recommended to make a portfolio of both balanced domestic timber usage and the change of awareness of people by referring to the example of Japan.

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Design of Virtual Reality content for supervising abusement

  • Kim, Minji;Lim, Chan
    • International journal of advanced smart convergence
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    • v.8 no.4
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    • pp.9-15
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    • 2019
  • The government has defined domestic violence as one of the four major social evils and tried to prepare laws and systems to prevent it. Nevertheless, domestic violence has emerged as a serious social issue, and compare to the number of domestic violence cases that are constantly increasing, the report rate of domestic violence is significantly lower. This suggests the need to improve citizens' perception of domestic violence as the issue to solve it together in society, not as a private matter at home. Most of existing contents for preventing domestic violence and improving awareness are simple viewing forms of video contents, which have little effect on recognition. We aim to confirm the possibility of improving social awareness about domestic violence by producing Virtual Reality (VR) contents that have great features of user's immersion and empathy. In this VR content, the user can interact with various objects in the virtual reality of domestic violence and directly or indirectly experience the victim's position. Users who view the violent environment from the victim's point of view can have a subjective empathy for the problem, which is expected to induce more active awareness about domestic violence.

Does the Gap between Domestic and International Gold Price Affect Money Demand?: Evidence from Vietnam

  • TUNG, Le Thanh
    • The Journal of Asian Finance, Economics and Business
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    • v.6 no.3
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    • pp.163-172
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    • 2019
  • The paper aims to investigate the impact of the gap between domestic and international gold price on money demand in Vietnam, an emerging economy in the Asian region. We use a quarterly database collected from the first quarter of 2004 to the fourth quarter of 2016. The time-series database includes 52 observations. The money demand is represented by M2; Domestic income is the Gross domestic product at the constant prices of 1994; Inflation rate is calculated by the Customer Price Index from the General Statistics Office of Vietnam. The result confirms the existence of a long-term cointegration relationship between the money demand and the gap between domestic and international gold price as well as some variables including domestic income, inflation, and real exchange rate. The regression results also show that the gap between domestic and international gold price has a positive impact on money demand in the Vietnamese economy. Besides, the domestic income and international gold price have positive impacts on money demand while the inflation and real exchange rate are negatively related in the long run. This proves that the gap between the domestic and international gold price really has a positive impact on money demand in Vietnam during the study period.