• Title/Summary/Keyword: FUND 모형

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Measuring Efficiency of Korean Fund Operation Company using DEA (DEA 모형을 이용한 국내 펀드 운용사의 효율성 분석)

  • Kim, Jong-Ki;Kang, Da-Yeon;Park, Ki-Woon;Park, Je-Hun;Ok, Seok-Jae
    • The Journal of the Korea Contents Association
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    • v.8 no.4
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    • pp.173-182
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    • 2008
  • It is hard environment to get a profit without active invest due to the low interest. In this kind of environment, however, it is also difficult to find good company directly. So private investors is hard to succeed in comprehensive financial environment. Analyzing efficiency is necessary to enhance the competitive power of fund companies. This paper analyze the efficiency of fund company using DEA models. We evaluate the CCR and BCC efficiency and RTS(return to scale) of 33 Korean fund companies. We also suggest the fund company which can be benchmarked based on analyzed information.

Using fuzzy-neural network to predict hedge fund survival (퍼지신경망 모형을 이용한 헤지펀드의 생존여부 예측)

  • Lee, Kwang Jae;Lee, Hyun Jun;Oh, Kyong Joo
    • Journal of the Korean Data and Information Science Society
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    • v.26 no.6
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    • pp.1189-1198
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    • 2015
  • For the effects of the global financial crisis cause hedge funds to have a strong influence on financial markets, it is needed to study new approach method to predict hedge fund survival. This paper proposes to organize fuzzy neural network using hedge fund data as input to predict hedge fund survival. The variables of hedge fund data are ambiguous to analyze and have internal uncertainty and these characteristics make it challenging to predict their survival from the past records. The object of this study is to evaluate the predictability of fuzzy neural network which uses grades of membership to predict survival. The results of this study show that proposed system is effective to predict the hedge funds survival and can be a desirable solution which helps investors to support decision-making.

A Review on Probabilistic Climate-economy Models and an Application of FUND (기후경제 모형의 불확실성 분석 방법 비교분석 및 FUND 모형 응용)

  • Hwang, In Chang
    • Environmental and Resource Economics Review
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    • v.26 no.3
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    • pp.359-398
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    • 2017
  • Uncertainty is central to energy and climate policy. A growing number of literature show that almost all components of energy and climate models are, to some extent, uncertain and that the effect of uncertainty on the model outputs, in turn policy recommendations, is significantly large. Most existing energy and climate-economy models developed and used in Korea, however, do not take uncertainty into account explicitly. Rather, many models conduct a deterministic analysis or do a simple (limited) sensitivity analysis. In order to help social planners to make more robust decisions (across various plausible situations) on energy and climate change issues, an uncertainty analysis should be conducted. As a first step, this paper reviews the theory of decision making under uncertainty and the method for addressing uncertainty of existing probabilistic energy and climate-economy models. In addition, the paper proposes a strategy to apply an uncertainty analysis to energy and climate-economy models used in Korea. Applying the uncertainty analysis techniques, this paper revises the FUND model and investigates the impacts of climate change in Korea.

A Factor Analysis on the Rational Application Model for Local Government Fund (요인분석을 통한 지방자치단체 기금의 합리적 운용 모형 연구)

  • Choi, Rack-In
    • Journal of the Korea Society of Computer and Information
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    • v.15 no.5
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    • pp.143-151
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    • 2010
  • The purpose of this research paper is to provide to alternatives to improve the fiscal issue of current local government fund system of through empirical factor analysis. The method of this study is to survey residents and public officers. The meaning of local government fund system is to enhance the roll of local community effectually and to practice democratically and efficiently through continuing support to special project, But in general, Fund must be applied under certain restrictions in the field not to attain it's objects within budget accounting system, The reform of fund managemental application must to achieve before fixing an abuse out of fund system. According to this factor analysis, a strategic aspect to enhance the democracy and efficiency of fund system must be search actively.

Dynamic Glide Path using Retirement Target Date and Forecast Volatility (은퇴 시점과 예측 변동성을 고려한 동적 Glide Path)

  • Kim, Sun Woong
    • Journal of Convergence for Information Technology
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    • v.11 no.2
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    • pp.82-89
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    • 2021
  • The objective of this study is to propose a new Glide Path that dynamically adjusts the risky asset inclusion ratio of the Target Date Fund by simultaneously considering the market's forecast volatility as well as the time of investor retirement, and to compare the investment performance with the traditional Target Date Fund. Forecasts of market volatility utilize historical volatility, time series model GARCH volatility, and the volatility index VKOSPI. The investment performance of the new dynamic Glide Path, which considers stock market volatility has been shown to be excellent during the analysis period from 2003 to 2020. In all three volatility prediction models, Sharpe Ratio, an investment performance indicator, is improved with higher returns and lower risks than traditional static Glide Path, which considers only retirement date. The empirical results of this study present the potential for the utilization of the suggested Glide Path in the Target Date Fund management industry as well as retirees.

Proposals to improve government funding of domestic start-up businesses through Living Lab: Focus on Korea Credit Guarantee Fund (사용자 주도의 개방형 혁신을 통한 국내 스타트업 대상의 정부 자금지원 개선 방안 제언: 신용보증기금을 중심으로)

  • Park, Jun-Su
    • Journal of Convergence for Information Technology
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    • v.8 no.1
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    • pp.301-312
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    • 2018
  • The purpose of this study is to propose strategies for enhancing competitiveness through the utilization of policy funds, especially in the start-up companies supported by the Korea Credit Guarantee Fund. And then, the Korea Credit Guarantee Fund should develop 'user-centered policy funding model' in order to increase start-up's utilization of policy fund and support start-ups that are supported in the long run. The competitiveness of domestic start-up companies has been strengthened by 'user-centered policy funding model' and new innovations have been introduced through 'Living Lab', an open innovation. But, in order to overcome the limitation of reaching the stage of commercialization, the 'user-centered policy funding model' proposed in this study enables start-ups to be the subject of actual policy funding, and also allows users to freely apply for necessary funding at any time. Therefore, the Korea Credit Guarantee Fund has a significance in suggesting 'user-centered policy funding model' as a support model to be customized. However, since SMEs recognize the actual situation and limit acceptance of all the difficulties, the systematic analysis of the actual situation of the policy funds of the start-up by the credit guarantee fund and the related support institutions for the scientific approach of the user-oriented policy funding model need.

Economic Impacts of Sea-level Rise and Optimal Protection on Jeju Island (해수면 상승에 따른 경제적 피해 비용 및 최적 해안 방어 비율 추정 -제주도를 대상으로-)

  • Min, Dongki;Cho, Kwangwoo
    • Environmental and Resource Economics Review
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    • v.22 no.1
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    • pp.127-145
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    • 2013
  • This study estimates the economic impact of sea-level rise on Jeju island and suggests the optimal protection level based on the FUND model. There exist a number of studies that estimate the impacts of sea-level rise on global scale, but their results are of limited use for local scale such as Korea. Therefore, this study applies some specific indicators and data of Korea into to FUND model for deriving site specific estimates. The results show that 2.01%~2.25% of land could be inundated by sea-level rise until 2100. The value of affected land is about 6.4%~7.2% of total land value. The discrepancy between the figures indicates that the area affected by sea-level rise is much more valuable than the rest of Jeju island. The optimal protection level in Jeju city is higher than that in Seguipo city, even though the coastal length of Jeju city is longer than that of Seguipo. This is due to the fact that the economic value of Jeju city is much higher than that of Seoguipo city.

Brownfield Redevelopment Fund as an Environmental Policy: Externality Effects of Brownfield Redevelopment Projects on Housing Sales Prices in Cuyahoga County of Ohio, USA (환경정책으로서의 브라운필드 개발 보조금)

  • Choi, Eugene
    • Journal of Environmental Policy
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    • v.9 no.4
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    • pp.103-123
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    • 2010
  • Many former industrial cities such as Cleveland, Ohio are trying to transform their identities from blue-collar manufacturing centers to white-collar professional hubs. As a result, the re-use of land previously occupied by industrial firms has been on the rise as an important sustainable land-use strategy in the United States. Ohio's Cuyahoga County offers a Brownfield Redevelopment Fund to overcome the environmental barriers inherent in re-use in order to obtain full use of underutilized properties in the county. This study estimates externality effects of brownfield redevelopment projects (BRPs) on nearby housing sales prices in Cuyahoga County. Typical hedonic regression models that employ "difference-in-difference" techniques are used to compare proximal housing sale prices before and after the completion of BRPs.

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Analysis of GHG Reduction Potential on Road Transportation Sector using the LEAP Model - Low Carbon Car Collaboration Fund, Fuel Efficiency, Improving Driving Behavior - (LEAP 모형을 이용한 도로교통부문의 온실가스 감축잠재량 분석 - 저탄소차협력금제도, 연비강화, 운전행태개선을 중심으로 -)

  • Kim, Min wook;Yoon, Young Joong;Han, Jun;Lee, Hwa Soo;Jeon, Eui Chan
    • Journal of Climate Change Research
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    • v.7 no.1
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    • pp.85-93
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    • 2016
  • This study the efficiency of greenhouse gas reduction of 'low carbon car collaboration fund' and its alternative 'control of average fuel efficiency and greenhouse gas', and 'improving driving behavior' were analyzed by using LEAP, long term energy analysis model. Total 4 scenarios were set, baseline scenario, without energy-saving activity, 'low carbon car collaboration fund' scenario, 'fuel efficiency improving scenario', and 'improving driving behavior' scenario. The contents of analysis were forecast of energy demand by scenario and application as well as reduction of greenhouse gas emission volume, and the period taken for analysis was every 1 year during 2015~2030. Baseline scenario, greenhouse gas emission volume in 2015 would be 7,935,697 M/T and 13,081,986 M/T in 2030, increased 64.8%. The analysis result was average annual increase rate of 3.4%. The expected average annual increase rate of other scenarios was, 'low carbon car collaboration fund' scenario 1.7%, 'fuel efficiency improving' scenario 3.0%. and 'improving driving behavior' scenario 3.4%. and these were each 1.7%, 0.3%. 0.3% reduce from baseline scenario. The largest reduction was 'low carbon car collaboration fund' scenario, and there after were 'fuel efficiency improving scenario', and 'improving driving behavior' scenario.

Study on Default Prediction Model of Policy Fund (정책자금지원 부실예측 모형 연구)

  • Lim, Sangseop
    • Proceedings of the Korean Society of Computer Information Conference
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    • 2021.07a
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    • pp.713-714
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    • 2021
  • 소상공인은 우리나라 경제의 중요한 역할을 하는 경제적 근간이루고 있지만 상대적으로 영세하고 경영여건이 불안하다. 정부정책적인 자금지원이 필요하나 재원의 한계로 효율적인 자본분배가 필요하다. 따라서 본 논문은 랜덤포레스트 모형을 활용하여 소상공인 정책자금 대출에 관한 부실예측모형을 개발함으로써 부실징후를 사전에 파악하고 예방함으로써 사회적비용을 절감하고 자원의 효율적 분배에 기여하고자 한다.

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