• Journal of Multimedia Information System
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• 제8권3호
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• pp.183-190
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• 2021

In this paper, we implement a system for a fund recommendation based on the investment propensity and for a future fund price prediction. The investment propensity is classified by scoring user responses to series of questions. The proposed system recommends the funds with a suitable risk rating to the investment propensity of the user. The future fund prices are predicted by Prophet model which is one of the machine learning methods for time series data prediction. Prophet model predicts future fund prices by learning the parameters related to trend changes. The prediction by Prophet model is simple and fast because the temporal dependency for predicting the time-series data can be removed. We implement web pages for the fund recommendation and for the future fund price prediction.

• Journal of information and communication convergence engineering
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• 제19권3호
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• pp.142-147
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• 2021

In this paper, we propose an intelligent research fund management system that applies artificial intelligence technology to an integrated research fund management system. By defining research fund management rules as work rules, a detection model learned using deep learning is designed, through which the disapproval status is presented for each research fund usage history. The disapproval detection system of the RCMS implemented in this study predicts whether the newly registered usage details are recognized or disapproved using an artificial intelligence model designed based on the use of an 8.87 million research fund registered in the RCMS. In addition, the item-detail recommendation system described herein presents the usage details according to the usage history item newly registered by the artificial intelligence model through a correlation between the research cost usage details and the item itself. The accuracy of the recommendation was shown to be 97.21%.

• Industrial Engineering and Management Systems
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• 제12권1호
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• pp.36-40
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• 2013

The paper discusses the problem of how to allocate the fund to a large number of individuals in a higher school so as to bring a higher utility return based on the theory of uncertain set. Suppose that experts can assign each invested individual a corresponding nondecreasing membership function on a close interval I according to its actual level and developmental foreground. The membership degree at the fund $x{\in}I$ is called utility degree from fund x, and product (minimum) of utility degrees of distributed funds for all invested individuals is called united utility degree from the fund. Based on the above concepts, we present an uncertain optimization model, called Maximal United Utility Degree (or Maximal Membership Degree) model for fund distribution. Furthermore, we use nondecreasing polygonal functions defined on close intervals to structure a mathematical maximal united utility degree model. Finally, we design a genetic algorithm to solve these models.

• 산경연구논집
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• 제9권1호
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• pp.9-23
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• 2018

Purpose - The purpose of this paper is to investigate the potential benefits or detriments of team management on fund performance in the mutual fund market. An additional purpose of this study is to examine the optimal number of managers in a fund industry for superior performance. Research design, data, and methodology - This paper investigates the effect of managerial structure on fund performance in the Korean active mutual fund market between 2001 and 2008. For this, we analyze two risk-adjusted performances measures- the capital asset pricing model (CAPM) and the three-factor model of Fama & French (1993). Results - First, we found that single-managed funds exhibited superior performance. Second major finding was that as the number of managers in a fund increases, the fund performance deteriorates. Finally, the results reveal that the sharpest performance drop occurs when team size increases from a 5-person team to a 6-person team. Conclusions - The results suggest that the management structure can be a source of competitive advantage for fund performance. As considering fund performance is the outcome of managers' decision-making, this study contributes to not only the financial literature but also the literature in other areas, such as management and general business.

• Journal of the Korean Data and Information Science Society
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• 제20권6호
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• pp.1049-1060
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• 2009

국내 금융시장의 변동성의 확대는 개인투자자들의 직접투자를 어렵게 만들면서 펀드를 통한 간접 투자 비중을 증가시켰다. 본 연구의 목적은 여러 가지 형태의 펀드 중에서도 인덱스펀드를 바탕으로 초과수익을 추구하는 인핸스드 인덱스 펀드 모델을 구축하는데 있다. 유전자알고리즘을 활용하여 인덱스펀드 관리를 위한 포트폴리오 최적화 모델을 제안하고, 이렇게 얻은 인덱스펀드의 수익에 초과수익을 얻을 수 있도록 기준지수의 일별 거래대금과 종가를 활용하였다. 실증분석 결과 본 연구의 제안모델은 코스피 200의 움직임을 잘 반영하고 있으며, 이를 활용한 전략은 순수 인덱스펀드에 의한 단순매수 후 보유 전략보다 적절한 개수의 종목을 편입시킨다면 높은 수익률을 가져다줌을 알 수 있었다.

• 한국정보시스템학회지:정보시스템연구
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• 제28권4호
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• pp.333-358
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• 2019

Purpose The study aims to develop a data-based decision model for private bankers when recommending hedge funds to their customers in financial institutions. Design/methodology/approach The independent variables are set in two groups. The independent variables of the first group are aggressive investors, active investors, and risk-neutral type investors. In the second group, variables considered by private bankers include customer propensity to invest, reliability, product subscription experience, professionalism, intimacy, and product understanding. A decision-making variable for a private banker is in recommending a first-rate general private fund composed of foreign and domestic FinTech products. These contain dependent variables that include target return rate(%), fund period (months), safeguard existence, underlying asset, and hedge fund name. Findings Based on the research results, there is a 94.4% accuracy in decision-making when the independent variables (customer rating, reliability, intimacy, product subscription experience, professionalism and product understanding) are used according to the following order of relevant dependent variables: step 1 on safeguard existence, step 2 on target return rate, step 3 on fund period, and step 4 on hedge fund name. Next, a 93.7% accuracy is expected when decision-making uses the following order of dependent variables: step 1 on safeguard existence, step 2 on target return rate, step 3 on underlying asset, and step 4 on fund period. In conclusion, a private banker conducts a decision making stage when recommending hedge funds to their customers. When examining a private banker's recommendations of hedge funds to a customer, independent variables influencing dependent variables are intimacy, product comprehension, and product subscription experience according to a categorical regression model and artificial neural network analysis model.

• 한국정보통신학회논문지
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• 제23권10호
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• pp.1201-1208
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• 2019

정부는 국가정책사업의 원활한 수행을 위하여 국가재정법에 의거 융자성 기금을 운용하고 있다. 그러나, 기금운용절차와 기금관리 측면에서 기금의 오남용, 사후관리 미흡 등 문제점에 노출되어 있다. 본 논문 연구에서는 이러한 문제점을 해결하기 위해 Blockchain과 Machine Learning 등 Fintech 기술을 활용하였다. 기금운용절차는 Consortium Blockchain으로 설계하고, PBFT 협의 Algorithm과 Smart 계약을 적용하는 방안을 제시하였다. 기금관리는 Machine Learning의 Multilayer Artificial Neural Network Model을 활용하는 방안과 결과 값 해석모듈을 함께 제시하였다. 본 Fintech 기술 활용 방안을 도입하게 되면 기금대출의 투명성과 효율성 제고, 신뢰성 확보가 가능하고 정부의 기금제도 개선 및 기금정책 수립에도 기여 할 수 있을 것이다.

• The Journal of Asian Finance, Economics and Business
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• 제7권10호
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• pp.433-442
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• 2020

This study investigates the impact of fiscal transfer, specifically the Village Fund Transfer, on rural income inequality and rural poverty. Studies on fiscal transfer offers contrasting outcomes, some argues that fiscal transfer suppresses wealth disparity, while others argue that it tends to widen disparity. This study employs descriptive analysis in estimating the elasticity of income inequality and poverty rate before and after the Village Fund Transfer. It develops multiple regressions model on panel datasets of 33 provinces in Indonesia before and after the implementation of Village Fund Transfer. This study suggests that the elasticity of income inequality is higher after the implementation of village fund transfer. Rural poverty tends to decline annually, however, the elasticity changes is lower after the implementation of village fund transfer. Furthermore, this study suggests that village fund transfer is insignificant in coping with the issue of income inequality, while education and the level of labor productivity of agricultural sector appears to be the determinant factor in tackling the issue of income inequality in the rural areas. This study further reveals the significance of village fund transfer in suppressing the rural poverty rate. This study also highlights the significance of human resources quality and agricultural sector in reducing poverty rate in rural areas.

• KDI Journal of Economic Policy
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• 제41권2호
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• pp.1-39
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• 2019

This paper utilizes a life-cycle overlapping-generations model to quantify the welfare effects of plans to postpone the depletion of the National Pension Fund. In order for the model to incorporate the rapidly changing demographic structure of Korea fully, we build and calibrate a model in transition directly. The model is considered suitable for analyzing the effects of demographic changes on the Korean economy and the effects of plans to change the National Pension System. According to a simulation of the model, to postpone the depletion of the National Pension Fund for 30 years, the premium rate must be increased to 18.3% from the current rate of 9%. By postponing the depletion of the fund reserve, young and future generations gain significantly at the expense of the older generations. The simulation results should be, however, interpreted as meaning that the current system is unjustifiably partial to the older generations. Moreover, given the current premium rate, it is desirable to strengthen the income-redistribution function of the National Pension System.

• 통상정보연구
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• 제6권2호
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• pp.339-358
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• 2004

This article discusses the critical issues on obligations and responsibilities in electronic funds transfer(EFT) between Article 4A of the UCC and the Model Law on International Credit Transfers of UNCITRAL. The electronic fund transfers begin with the issue of the payment order by the originator to the receiving bank for the beneficiary. All obligations and responsibilities of parties concerned occur when the receiving bank accept the originator's payment order to executes. So far, some the most compelling studies have focused on the legal obligations and responsibilities of electronic fund transfer in Korea. Therefore, In this paper, we would like to examine some problems of obligations and responsibilities in electronic fund transfer from Article 4A of UCC and the Model Law on International Credit Transfers of UNCITRAL. And also we present some Implications to reform EFT Law for the efficient application.