• 제목/요약/키워드: Equity Style

검색결과 18건 처리시간 0.022초

수익률 기반 스타일 분석을 이용한 국내 주식형 펀드의 스타일 지속성 검증 (Veri cation of the Style Consistency of Domesti Equity Mutual Funds Using Return-Based Style Analysis)

  • 권인영;송성주
    • 응용통계연구
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    • 제23권5호
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    • pp.783-797
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    • 2010
  • 이 논문은 투자성과에 있어 자산배분의 중요성이 크다는 것에 주목하여 최적 자산배분을 달성하기 위한 투자의 수단으로써 펀드의 가능성을 살펴보고자 한다. 우선 펀드의 자산별 배분(또는 스타일)을 정의하기 위해 Sharpe(1992)가 제시한 펀드 수익률 기반 스타일 분석을 적용하였다. 정의된 펀드의 스타일이 일정기간 유지되는지 확인하기 위해 특정 개별 투자자를 가정하고 스타일 변동 허용범위를 설정한 뒤 이를 충족시키는지 살펴보았다. 국내 주식형 펀드에 한정하여 실증 분석을 수행한 결과 투자시점에 가정하였던 펀드의 스타일이 투자 예상 기간 동안 지속적으로 유지되지 않음을 확인하였고 그 원인을 파악하고자 하였다. 몇 가지 분석 상의 한계에도 불구하고 실증 분석의 결과 펀드가 투자자의 최적 자산배분 달성을 위한 투자수단으로 적절치 않다는 결론을 얻을 수 있었다.

맞벌이 부부의 공평성 인지.의사결정 참여도 및 가정생활만족도 (Perception of Equity.Decision-Making Styles and Family Life Satisfaction in Dual-Career Couple)

  • 이정우;강기연
    • 대한가정학회지
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    • 제39권9호
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    • pp.137-152
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    • 2001
  • On the basis of the equity theory, as the couple perceives their relationship is equitable, they tend to make decisions jointly and are satisfied with their family lives. Therefore this study is aimed to identify the relationship among perception of equity, decision-making styles and family life satisfaction in dual-career couples. As a result of analyzing the cause-effect relationship, it shows that many socioeconomic$.$psychological variables have direct indirect impact on family life satisfaction through medium factor, so this study proves the application of the cause-effect modes. However the influence of the perception of equity of wives were higher than husbands.

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상표자산이 구매의도에 미치는 영향: 중국패션시장에서 (Brand Equity and Purchase Intention: The Fashion Market in China)

  • 이동해;최영로
    • 유통과학연구
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    • 제13권7호
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    • pp.85-90
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    • 2015
  • Purpose - Global trends play a part to change the structure of the fashion industry. In particular, companies attempting to conduct innovative marketing centering on such products as SPA brands are growing into global companies. SPA stands for "Specialty Store Retailer of Private Label Apparel", meaning its activities are fully integrated from manufacturing through sales, including material procurement design, product, distribution, inventory management, and final sales. For this reason, more understanding of individual corporate profitability is very sensitive to consumer's attitudinal changes. The effects that corporate marketing activities on customer lifetime value through brand attitude were analyzed based on a structural equation model. Rust suggested value equity, brand equity, and relationship equity as customer equity driver. The study examines Chinese consumer because China is the fastest growing fashion market in the world. Research design, data, and methodology - The survey targeted Chinese college student age 20s. Only respondents who had purchased SPA brands in the past year were included for this research. A total of 303, except for 47 missing data of 350 distributed questionnaires were included in this research. The questionnaire is consists of six part to measure value, brand, relationship equity, attitude toward brand, purchase intention and demographic characteristics. This research conducted exploratory factor analysis and reliability test. To verify research hypotheses, structural equation model test was conducted. As for customer equity, diversified models in consideration of the scope of acquisition data, a method of collection of data, influencing factor, and predictability were suggested based on a net present value model. However, the history of customer equity study is relatively short, and sufficient empirical analyses have not been conducted, so more integrated analysis is required. In this study, the concept of driver suggested by Rust was applied to figure out the effects that consumer's attitude has on customer equity. The customer equity driver suggested by them consists of brand equity, value equity, and relationship equity. Results - This study reveals that value equity and brand equity have a positive influence on relationship equity. And, relationship equity has a positive influence on purchase intention through brand attitude. However, value equity and brand equity do not influence on brand attitude. Conclusion - The results of this research generated following implications. First, SPA brands need to take advantage of their value equity such as perceived low price and up-to-date fashion style to attract Chinese young consumer. Second, strong brand equity promises dominants position in the competitive market. As Chinese fashion market grows rapidly, SPA brands can consider branding strategy such as flagship store and celebrity marketing enhancing brand image. Third, the core concept of customer equity strategy is to maintain a relationship with their expecting and existing customers. The relationship equity is built by brand equity and value equity. When SPA brands serves product and service meet with individual customers, customers have intimacy to the brands.

핀테크 기반 주식투자 최적화 모델 구축 사례 연구 : 기관투자자 대상 (A Case Study on the Establishment of an Equity Investment Optimization Model based on FinTech: For Institutional Investors)

  • 김홍곤;김소담;김희웅
    • 지식경영연구
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    • 제19권1호
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    • pp.97-118
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    • 2018
  • The finance-investment industry is currently focusing on research related to artificial intelligence and big data, moving beyond conventional theories of financial engineering. However, the case of equity optimization portfolio by using an artificial intelligence, big data, and its performance is rarely realized in practice. Thus, the purpose of this study is to propose process improvements in equity selection, information analysis, and portfolio composition, and lastly an improvement in portfolio returns, with the case of an equity optimization model based on quantitative research by an artificial intelligence. This paper is an empirical study of the portfolio based on an artificial intelligence technology of "D" asset management, which is the largest domestic active-quant-fiduciary management in accordance with the purpose of this paper. This study will apply artificial intelligence to finance, analyzing financial and demand-supply information and automating factor-selection and weight of equity through machine learning based on the artificial neural network. Also, the learning the process for the composition of portfolio optimization and its performance by applying genetic algorithms to models will be documented. This study posits a model that the asset management industry can achieve, with continuous and stable excess performance, low costs and high efficiency in the process of investment.

Is the Fama French Three-Factor Model Relevant? Evidence from Islamic Unit Trust Funds

  • Shaharuddin, Shahrin Saaid;Lau, Wee-Yeap;Ahmad, Rubi
    • The Journal of Asian Finance, Economics and Business
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    • 제5권4호
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    • pp.21-34
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    • 2018
  • The study tests the Fama and French three-factor model by using the newly created Islamic equity style indices. Based on a dataset from May 2006 to April 2011, the three-factor model is tested based on returns of Islamic unit trust funds using the Generalized Method of Moments (GMM) methodology. The sample period is also divided between periods before and after the Global Financial Crisis in August 2008 to test for robustness, and the Bai and Perron (2003) multiple structural break test was used to determine the structural break in the series. The analysis shows that the Fama and French model is valid for Islamic unit trust funds before and after the collapse of Lehman Brothers. The result further indicates the reversal of size effect. As for trading strategies, value funds outperform growth funds by annualized 3.13 percent for the full period. During pre-crisis period, value funds perform better than growth funds while in post-crisis, size factor yields better return than other strategies. As policy suggestion, fund managers need to be aware of the reversal of size effect, and they need to ensure a more transparent stock selection process so that investors can make an informed decision in their asset allocation.

브랜드 전환 매트릭스를 적용한 캐주얼웨어 시장의 유행 현상 분석 (Analysis of Fashion Phenomenon in Casual Wear Market Applying Brand Switching Matrix)

  • 정인희;김상완
    • 복식문화연구
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    • 제15권3호
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    • pp.525-540
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    • 2007
  • This study intended to construct the brand switching matrix in the Korean casual wear market and to analyze it in various aspects. 1,014 sample data were collected in Seoul area, a center of fashion retailing. Since the respondents cited over 200 brand names as their last 2 purchased casual wear brands, 15 most frequently-purchased brands were selected for constructing the brand switching matrix. As a result of the examination, it was founded that the brand loyalty was dominant rather than brand switching in the casual wear market. Polo was identified as the leading brand in the market. Its brand equity, which was comprised of brand recognition, brand preference (loyalty), perceived quality, and brand association, was evaluated very high. Especially, the strength of Polo was the consumer's strong preference and the brand image of simplicity, naturalness, and neatness. After combining 15 brands into 6 groups based on the style and price, additional interpretation was performed on this 'trend switching matrix.' A transition of fashion trend in casual wear was observed. Applying the brand switching matrix on fashion products gave us much insight to the market.

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남아와 여아에 대한 유아교사의 인식 및 상호작용 (Early Childhood Teachers' Awareness of Gender and Interaction Style with Young Children)

  • 손원경
    • 한국보육지원학회지
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    • 제7권1호
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    • pp.121-148
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    • 2011
  • 본 연구는 교사가 지니고 있는 남아와 여아에 대한 인식을 알아보고, 교실에서 남아 및 여아와 상호작용하는 과정에서 나타나는 교사의 행동을 분석해보고자 하였다. 남아와 여아에 대한 이미지 분석을 위해서는 Q 방법을 이용하여 50명의 교사들에게 Q 분포를 분류하도록 하였고, 응답을 분석한 결과 교사의 인식 유형은 남아에 대해서는 3유형, 여아에 대해서는 4유형으로 분류되었다. 교사의 성에 대한 인식이 교실 내에서 어떻게 표현되는지 알아보기 위하여 교수실제에서 나타나는 상호작용을 분석하기 위하여 두 명의 교사를 선정하여 관찰한 결과 전체적으로 여아보다 남아와 상호작용 빈도가 더 높았으며, 특히 부정적인 상호작용의 빈도에서 많은 차이를 보였다. 교사들은 면담과정에서 남아들과 상호작용하는 과정에서의 어려움과 함께 남아에 대한 이해 및 배려 부족의 문제를 스스로 인식하고 있었다.

생활방식품패확장적품패자산건모(生活方式品牌扩张的品牌资产建模): 침대Y세대화영인조소비자적전략로경(针对Y世代和婴儿潮消费者的战略路径) (Modeling Brand Equity for Lifestyle Brand Extensions: A Strategic Approach into Generation Y vs. Baby Boomer)

  • Kim, Eun-Young;Brandon, Lynn
    • 마케팅과학연구
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    • 제20권1호
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    • pp.35-48
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    • 2010
  • 今天, 受到成熟零售市场挑战的时装市场需要新的 "品牌发展" 典范来提高他们的竞争优势. 时装市场的一个重要议题是为满足消费者由于生活方式的变化而产生的特别需求所进行的生活方式品牌扩张. 时装品牌扩张到生活方式产品类别, Y世代和婴儿潮可以说是新兴的 "前景"(婴儿潮的消费者正在改变他们的生活方式. Y世代正经历着他们生命阶段的变化). 他们有购买新产品的需求. 因此, 服装公司为品牌扩张注重消费群从而在新的产品类别中建立和管理他们的品牌资产是乐观的. 本文的研究目的是(a)评估母品牌和子品牌的品牌资产. (b)鉴定消费者对品牌扩张的感知营销因素. (c)评估两个选择的群体(Y世代和婴儿潮)的营销因素和扩张到生活方式的产品类别(包括家居时尚产品)品牌的品牌资产之间因果关系的结构方程模型. 关于理论框架, 本文关注传统的营销4P组合来鉴定哪个营销因素在品牌扩张资产方面更重要. 比较营销可以建立 "品牌扩张资产", 从而成功的进入新类别. 借鉴相关的文献, 通过关注选择的消费者(Y世代, 婴儿潮), 本研究发展的研究假设结合了品牌资产因子和营销因素. 在品牌扩张至生活方式产品的背景下, 品牌资产的构念包括品牌认知/联合, 品牌感知(例如感知质量, 情感价值)和从CBBE因子(Keller, 2001)中而来的品牌共鸣. 据推测, 通过品牌扩张至生活方式产品, 市场营销要素在品牌认知/联合, 品牌感知方面创建品牌扩张资产, 进而影响品牌的共鸣. 为了收集数据, 样本由韩国Y世代的女性消费者和在婴儿潮中出生的消费者. 这些在婴儿潮中出生的消费者由于生活周期的改变而对生活方式产品有较高的需求. 在韩国Y世代(n=326)和婴儿潮(n=325)的女性消费者中共有651份有用的问卷被使用. 我们用LISREL8.8测试了使用相关矩阵的结构和测量模型. 结果显示品牌扩张的感知营销因素包括三个因子: 价格/店铺形象, 产品和广告. 在Y世代的模型中, 价格/店铺形象对品牌资产因素有积极的影响(例如品牌认知/联合, 感知质量). 同时, 在品牌扩张中产品对情感价值有积极的影响. 品牌认知/联合有可能提高感知质量和情感价值, 从而对扩张至生活方式产积极的品牌产生品牌共鸣. 在婴儿潮消费者模型中, 价格/店铺形象对感知质量有积极的影响, 感知质量可以创造品牌扩张的品牌共鸣. 产品对质量感知和情感价值有正的影响, 这些都会消费者产生对扩张至生活方式产品的品牌的品牌共鸣. 但是, 在这两个群体中广告和品牌资产都是负相关. 本研究为时装营销者提供了发展成功的品牌扩张战略以及可持续的竞争优势的见解. 本研究补充和扩展了先前的有关通过营销努力的因素促使品牌扩张成功的研究. 研究结果支持为进入新的产品类别, 时装品牌扩张(Aaker and Keller, 1990; Tauber, 1998; Shine et al., 2007; Pitta and Katsanis, 1995)和营销行动的增效作用. 因此, 我们推荐营销者同时针对Y世代和婴儿潮一代通过标准化的营销推广进入新产品类别(例如家具)可以降低营销成本. 时装营销者可以(a)提供高价的产品线. (b)在韩国通过零售渠道(例如专门百货商店)强调高档特征的商店形象定位. (c)结合服装与生活方式产品包括新颖的款式和设计师的限量版. 对品牌资产,成功品牌延伸的关键是消费者的品牌认知度和品牌联合,确保新产品类别的品牌特征. 对于营销者来说, 在进入新产品类别的时候知道什么有助于更具体的联合是必要的. 对时装品牌而言, 品牌扩张的第二个关键是进入 "奢侈" 生活方式新产品类别的途径. 更高的价格或店铺形象都对质量感知有影响. 而质量感知可以引起品牌共鸣. 更重要的是, 本研究提高了对品牌扩张的理论理解并对营销者提出了在制定针对Y世代和婴儿潮一代消费者的行销项目时的方向.

배우자 직업 유무가 부부공평성, 부부갈등대처방식, 의사소통기술, 결혼만족도의 관계에 미치는 영향 -한국인부부와 국제결혼부부의 비교- (Relationships among Marital Equity, Communication, Conflict-Coping Style and Marital Satisfaction in Korean Couples and International Couples)

  • 안현숙;변상해
    • 벤처창업연구
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    • 제7권2호
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    • pp.215-225
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    • 2012
  • 본 연구는 배우자 직업 유무가 한국인부부와 국제결혼부부의 결혼만족도에 대한 영향요인과 관련변인인 부부공평성과 부부갈등이 결혼만족도에 미치는 영향을 비교분석하여 행복한 결혼의 지속에 대한 대안을 제시하는 것이 목적이며, 추후 연구에서는 국제결혼한 부부의 경우 한국에서 안정적인 직업을 갖추고 생활할 수 있도록 국제부부를 위한 중장기적인 정책 대안도 연계시켜 구체적인 연구를 진행할 필요가 있다. 연구결과 집단별 배우자 직업유무에 따른 결혼만족도는 국제결혼 부부 여자 집단에서 가장 높게 나타났으며, 본국에 일정액의 송금을 하는 경우 결혼만족도가 가장 높게 나타났다. 부부공평성의 경우 국제결혼부부 여자집단의 평균이 가장 높게 나타남으로 가장 공평치 않음이 나타났으며, 집단별 부부갈등 대처방법은 본인 갈등개입의 경우 국제결혼부부 남자가 가장 높게 나타났다. 본인 순종 점수는 국제결혼부부 여자가 가장 높게 나타났으며, 성역할태도와 의사소통은 성역할 태도의 경우 의사소통에서 집단 간 차이가 뚜렷하게 나타났다. 결혼만족도에 영향을 미치는 변인은 배우자의 직업 유무, 의사소통, 배우자의 갈등개입, 본인의 긍정적 문제해결, 갈등에서 본인후퇴, 배우자 학력, 심리정서 공평성으로 나타났다.

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다문화권 학생들의 초등수학 학습과정에 관한 사례연구 (A Case Study on the Instructional Dimensions in Teaching Mathematics to the Elementary School Student from Multi-cultural Backgrounds)

  • 장윤영;고상숙
    • 한국수학교육학회지시리즈A:수학교육
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    • 제48권4호
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    • pp.419-442
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    • 2009
  • This study was to find the difficulties students faced in their mathematical learning and to identify the instructional dimensions a teacher provided for the students from multi-cultural background. Since the study was focused on the process of students' learning, the qualitative method was chosen through clinical interviews with 2 students in a total of 11 units which played a role of compensating their learning of mathematics as an extra curriculum. The students solved the computational problems relying on formal procedure without understanding of concepts and principles and solved the word problems based on own interpretation of certain words without semantic comprehension out of math sentences. As the instructional dimensions of teaching mathematics, tasks, a tool and classroom norm were found in the activities they performed. For the tasks, situated tasks, challenging tasks, tasks with lack of conditions, and open-ended exploratory tasks were used. As the tool, pictorial representations were very useful to describe their ideas. Finally, as the classroom norm, consider equity for everyone, and cooperate and encourage each other were found.

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