• 제목/요약/키워드: Factor Investing

검색결과 52건 처리시간 0.032초

기업의 해외직접투자 모형설정에 관한 실증 연구 - 동아시아 6개국 중심 - (An Empirical Study on the Modeling Determinants and Effects of Korean FDI - Focused on six Country of East Asia -)

  • 이응권
    • 통상정보연구
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    • 제11권2호
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    • pp.343-367
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    • 2009
  • This research is about global investment for managing the important position, what Korea is doing in World's main market. Considering there are some differences between developed countries' model and developing countries' model in doing direct overseas investment, they target to get political agreement and develop the new invest plan and strategy by understanding changes of Korean manufacturing companies in direct overseas investment between 2000 and 2007 and analyzing the change of yearly investment motivation factors and determining factors for investment. The result from this result let us know that company should develop their own idea for their competitive advantage by doing direct overseas investment with the existing theory which convinces the need of competitive advantage for investing overseas. I set actual model and analyze results from it with the considering that it is so important to get knowledge and information for globalizing companies to invest overseas and companies, which want to be world leading ones for their field through innovation and changes, need to have more active strategy. And, the overseas investment, which was already done in other countries, 1. Review its realities and tendency in terms of investing countries, investing industries, and its scale. 2. Set up an actual model, based on strategic combination of investing location select and determination of Korean manufacturing companies and yearly investing factor-effect analysis. 3. Analyze how the situational factors have influenced and what factors would be considered for direct overseas investment. From the analyzing result, even though it is fairly true that raising wage and getting resources, avoiding customs, and developing alternating industries for export had influenced at the beginning, overseas investing companies' policy will be influenced by the results from studying marketing-pursuit type, which emphasizes to manage trade income and outgo, keeping the balance in the black, ensuring raw materials, local producing and manufacturing by using low-wage people for local sale, and situation for changing investing tendency as service industry.

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Robustness of Cash Flow Value: Investment in ASEAN

  • LAU, Wei Theng;MAHAT, Fauziah Binti
    • The Journal of Asian Finance, Economics and Business
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    • 제6권2호
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    • pp.247-255
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    • 2019
  • This study examines the different roles of cash flow in assessing investment returns in the Association of Southeast Asian Nations (ASEAN). The analysis covers over 900 listed firms across Malaysia, Indonesia, Philippines, Singapore and Thailand for the period post the Asian financial crisis of 2001-2017. Firm-level panel data analysis shows that cash flow factors are important in all contexts of cash return on assets, earnings quality and market value multiple across the region even after controlling for typical measures of profitability. The results suggest that firms should manage cash flow prudently in considerations of firm value from the shareholder's perspective, measured directly using stock return. Cash profitability on assets should become an important firm performance indicator, whilst higher cash component over reported earnings is preferred. The market also tends to respond favourably to cash flow yield as a price multiple in valuation, outpacing the role of earnings yield. Such findings are robust across the pre and post subprime crisis periods, across estimation methods pertaining to finance panel standard errors, as well as across static and dynamic considerations of returns. It is hence sensible to consider cash flow factors in the research pertaining to asset pricing and factor investing in the ASEAN region.

APEC국가간 언어의 투자 결정요인 분석 (The Language Determinant Analysis of Investment Among APEC Member Economies)

  • 션즈펑;김태인
    • 아태비즈니스연구
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    • 제7권2호
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    • pp.61-76
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    • 2016
  • This study aims to establish ways of how languages are used as determination factors for investment decisions among Asian countries where used languages are diversified. According to the analysis result, language segmentation of the investing country increases investment whereas the language segmentation of the invested countries is analyzed as the decreasing factor of investment. Also, it is analyzed that the further the linguistic distance between the investing country and the invested country the more investment increases. In the aspects of approached language distance and investment time selection, along with the increased linguistic distance, the elasticity to foreign direct investment is apprehended to be more flexible than other forms of investment. Such result shows the more segmented the languages of the targeted invested country the more investment cost will increase and therefore the results in linguistic distance can be explained as diversification of the invested country and the result to the forming of bridgehead at the invested area.

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교통안전진단 결과분석을 통한 교통사고 요인분석 - 사고자 요인을 중심으로 - (A Factor Analysis of Traffic Accidents Through Traffic Safety Diagnosis Results - Driver Factor -)

  • 이환승;안병준
    • 한국안전학회지
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    • 제21권2호
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    • pp.128-137
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    • 2006
  • Traffic accidents occur due to complex influences of transportation companies, drivers, and road environment. This study found that education and surroundings for transportation companies, driving habits of drivers, and road safety facilities and accessory facilities were main factors that affected strongly traffic accidents. Also, it found that driving habits of drivers could affect accidents heavily more than two other factors. Road safety and accessory facilities were analysed that they affected traffic accidents independently with transportation companies and their own drivers. Therefore, in order to achieve a traffic accident prevention as our main target, those companies need to produce atmosphere that their own drivers can have safety awareness, and related institutions for the above target should run parallel with policy assistance and strict traffic enforcement. In the end, this study suggests that transportation companies should secure manpower wholly being charged with traffic safety and financial resources investing in it.

클라우드 스토리지 서비스의 지속적 사용의도에 영향을 미치는 요인 연구 : 사용자 요인, 시스템 요인, 심리적 전환비용 (Research about Factor Affecting the Continuous Use of Cloud Storage Service : User Factor, System Factor, Psychological Switching Cost Factor)

  • 전창중;이정훈;전인숙
    • 한국전자거래학회지
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    • 제19권1호
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    • pp.15-42
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    • 2014
  • 클라우드 스토리지 서비스는 미래 모바일 및 인터넷 서비스의 핵심적인 인프라 서비스가 될 가능성이 높다. 클라우드 스토리지 서비스와 관련된 많은 기업들은 지속적인 투자를 하고 있으며, 가입자 확보를 위해 노력하고 있다. 이러한 서비스를 제공하는 기업들이 신규 가입자를 확보하고 기존 가입자를 유지하기 위해 사용자들의 서비스 사용의도가 무엇인지 확인할 필요가 있다. 따라서 본 연구에서는 클라우드 스토리지 서비스의 지속적 사용의도에 대한 실증적 연구 수행을 위해 외생 변수를 추가한 확장된 TAM 모형을 기반으로 사용자 수용의도와의 관계를 규명하고자 한다. 연구 결과, 개인의 혁신성, 자기효능감, 기능적 속성, 심리적 전환 비용과 같은 요인이 클라우드 스토리지 서비스의 지속적 사용의도에 영향을 주는 것으로 검증되었으며, 향후 클라우드 스토리지 서비스를 제공하는 기업들의 전략 수립을 위한 방향성을 제공해 줄 수 있을 것으로 기대한다.

펀드 위험감소행동과 선택속성이 펀드투자행동에 미치는 영향 (The Effects of the Risk Reduction Behavior and the Choice Attribute on the Fund Investment Behaviors)

  • 장부연;하규수
    • 벤처창업연구
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    • 제10권3호
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    • pp.161-170
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    • 2015
  • 펀드는 최근 들어 대표적인 금융투자상품으로서 많은 인기를 끌고 있다. 본 연구는 펀드투자에 대한 의사결정과정에서 투자자들이 어떠한 요인을 고려하는지를 분석하였다. 본 연구의 목적은 투자자들의 위험감소행동과 펀드선택속성이 펀드투자행동에 미치는 영향력을 분석하고자 한다. 연구의 대상은 펀드 가입 경험이 있는 투자자를 대상으로 설문조사를 하였으며, 자료수집은 2014년 12월부터 2015년 1월 30일까지 하여 총431개 투자자를 분석의 대상으로 하였다. 본 연구결과 펀드 판매회사, 펀드 이해력, 펀드성과는 펀드만족도에 정적인 영향을 미쳤으며, 상업적 광고는 부적인 영향을 미치는 것으로 나타났다. 또한 펀드 운영회사, 수익성, 펀드이해력, 펀드성과, 주변추천은 펀드의 지속적인 거래의도에 정적인 영향을 미치는 것으로 나타났다. 본 연구결과를 통해서 펀드투자 만족도와 지속적인 거래의도를 증가시키기 위해서는 펀드성과에 대한 정보제공을 바탕으로 투자자 스스로 의사결정을 할 수 있도록 유도해야하며, 펀드정보는 펀드 이해력을 향상시킬 수 있도록 투자자에게 제공되어야 할 것이다.

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집단지성(Collective Intelligence)과 의사결정의 편향성 (Collective Intelligence and Human Decision Bias)

  • 한주희;신경식;채상미
    • Journal of Information Technology Applications and Management
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    • 제22권2호
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    • pp.113-122
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    • 2015
  • Collective intelligence can be an influential factor of decision-making based on collaboration and information exchange between individuals. Our study explores whether collective intelligence can mitigate the loss aversion effect, bias and error in human judgment, and collective intelligence in online communities can reduce the loss aversion effect. Our community settings display both individual-level and group-level loss aversion effect, investigate effective collective intelligence characteristics like investment commitment, participant experience. Using a multi-method approach our research comprises a web-based experiment with 100 participants investing 3 situations from a real-world community, data from a survey measuring loss aversion behavior of participants. The results suggest the loss aversion effect mitigates under the online-circumstance. Overall, our results suggest that, while collective intelligence mitigates the loss aversion effect, participants do not transfer these results to other settings.

The Location Determinants of FDI in Developing Countries: A Case of Myanmar

  • Yeo, Heejung
    • 통상정보연구
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    • 제19권2호
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    • pp.85-107
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    • 2017
  • The aim of this study is to empirically examine fundamental factors that drive FDI to a particular location. This study further explores operating conditions of Korean firms in Myanmar. A survey methodology and then a regression analysis are employed. The study finds that the factors such as transportation, production factor, market, and cost play an important role for the location of FDI. However, the Korean investment in Myanmar decreases from 2013. The decrease of Korean investment implies that investing in Myanmar has not been profitable. The empirical study finds a complicated pattern of FDI. Large Korean firms are located far from the consumer market, thus, bear an increased transport cost to reach the consumer market. They are rather located in a place where they can access to a transport means and raw materials with low cost to export final products. They place FDI into a host country to serve as a production platform for exports to neighboring countries.

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초등학교 예비 수학교사들의 수학 교수 효능감 실태 분석 (Analysis of Preservice Elementary Mathematics Teachers' Efficacy on Mathematics Teaching)

  • 강문봉
    • 한국초등수학교육학회지
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    • 제20권1호
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    • pp.35-53
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    • 2016
  • 이 연구는 우리나라 초등학교 예비 수학교사들의 수학 교수 효능감이 어느 정도인지를 분석한 것이다. 강문봉과 김정하가 개발한 효능감 측정 도구를 이용하여 분석하였으며, 3개 교육대학의 수학교육과 2학년과 4학년 164명을 대상으로 분석하였다. 분석 결과 예비 초등 수학교사들의 수학 교수 효능감은 약간 긍정적인 수준에 있으며, 남녀 또는 고등학교 때의 이수 계열이나 대학교의 학년 사이에 통계적으로 유의한 차이는 없었다. 그러나 지역간에 어느 정도 유의한 차이가 드러났으며, 특히 사회문화적 영향에 대한 신념은 다른 요인에 비해 상당히 낮게 나타났다.

유전자 알고리즘을 이용한 물류에서의 지능적 운송 자원 할당 (Intelligent Allocation of Transporting Resources in Logistics using Genetic Algorithm)

  • 김주원;차영필;정무영
    • 한국경영과학회:학술대회논문집
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    • 대한산업공학회/한국경영과학회 2004년도 춘계공동학술대회 논문집
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    • pp.23-26
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    • 2004
  • Recently, most of countries in the world are investing huge amount of capital for the infrastructure of logistics and trying to gain dominating position in logistics. To play the role of important hub in logistics, an efficient, flexible, and fault-tolerant transportation process should be developed. Minimization of transportation cost and timely deliveries in the unpredictable environment are a few of the important issues in logistics. This study suggests a way of transporting goods to destinations at the minimal cost and with the minimal delay by optimally allocating transporting resources. Various attributes in transportation such as due date, priority etc. are also considered. Appropriate transporting resources for each work item is selected by calculating the weighted sum of the cost factor and the delay factor assuming that initial sequences of work items are given. A policy to reallocate transporting resources is also suggested when work items or transporting resources are added or deleted because of accidents or disturbances. This policy provides adaptability to the allocation methodology which enables the system to cope with changing environment by controlling various attributes in transportation. Genetic algorithm is used for this approach.

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