• Journal of the Korean Society for Industrial and Applied Mathematics
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• 제20권4호
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• pp.277-293
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• 2016

We develop an efficient numerical method for pricing the Derivative Linked Securities (DLS). The payoff structure of the hybrid DLS consists with a standard 2-Star step-down type ELS and the range accrual product which depends on the number of days in the coupon period that the index stay within the pre-determined range. We assume that the 2-dimensional Geometric Brownian Motion (GBM) as the model of two equities and a no-arbitrage interest model (One-factor Hull and White interest rate model) as a model for the interest rate. In this study, we employ the Monte Carlo simulation method with the Compute Unified Device Architecture (CUDA) parallel computing as the General Purpose computing on Graphic Processing Unit (GPGPU) technology for fast and efficient numerical valuation of DLS. Comparing the Monte Carlo method with single CPU computation or MPI implementation, the result of Monte Carlo simulation with CUDA parallel computing produces higher performance.

• 농업과학연구
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• 제40권2호
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• pp.169-176
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• 2013

The price and revenue of rice are expected to decrease due to increasing rice imports, decreasing consumption and the discontinuance of the government's rice procurement. This degenerating profitability is leading to a rise in the cultivation of upland-crops such as beans, fodder crops and fruits in paddy fields. However, there is a lack of research on the selection of rice substitute crops which are adaptable to the relevant region through profitability analysis. This research, therefore, analyzed investment profitability of rice substitute crops for Cheorwon-gun area in Kangwon province. The study applied net present value (NPV) and internal rate of return (IRR), which fit for mutually exclusive investments that make one selection to the exclusion of other crops. Target crops are green house plants in Cheorwon-gun area. Financial analysis showed paprika and cucumber have investment feasibility for automated vinyl greenhouses and conventional plastic greenhouses respectively.

• 아태비즈니스연구
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• 제11권3호
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• pp.63-77
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• 2020

Purpose - The purpose of this study is to examine the effects of personal characteristics, loan characteristics, and interest rate characteristics of 2,653 borrowers on the delinquency possibility. In doing so, this study applies both multiple regression and logistic regression models to the data of credit unions in the city of Daegu. Design/Methodology/Approach - The major results of multiple regression analysis using SPSS are as follows. Findings - As for the results of testing the significance of the regression coefficients, it has been found that among the personal characteristics variables membership, credit rating, credit rating changes, and LTV have significant positive (+) effects on the delinquency possibility. Also it has been shown that among the loan characteristics variables loan amount, loan balance, total debt amount, collateral type, collateral amount, and repayment method have significant positive (+) effects on the delinquency possibility. Furthermore it has been found that among the interest rate characteristics variables both overdue interest rate and interest rate spread have positive (+) effects on the delinquency possibility. However, it has been shown that among the personal characteristics variables equity and membership do not have significant effects on the delinquency possibility, and that normal interest rate among the interest rate characteristics variables also do not have a significant effect on the delinquency possibility. Research Implications - By systematically analyzing the variables affecting delinquency possibility based on the results of this study, credit unions might get positive help in improving the system of managing receivables. Furthermore, the results of this study could be extended and applied to other types of financial institutions, so that financial institutions in general will also get some help to systematically manage the delinquency possibility.

• 한국병원경영학회지
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• 제4권1호
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• pp.147-170
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• 1999

This study was performed to assess the financial performance of medical institutions and examine the affecting factors in Taegu metropolitan and Kyungpook province. The major results are as follows ; The liability to total assets was significantly different according to the ownership type of medical institution. It was the highest in the case of juridical person having a special status. The total assets turnover and value added to total assets were significantly different according to the type of medical institution, period of establishment, and ownership type of medical institution. They were higher in the tertiary medical institution, in private hospital and university hospital, and they were increased with establishment period of medical institution. The growth rate of patient revenues were significantly different according to the type of medical institution, period of establishment, and the growth rate of adjusted inpatient days were significantly different by period of establishment. The return on assets and net profit to gross revenues were the highest in private hospital. Private hospital went into the black, but other hospitals went into the red figures. According to the multiple regression analysis for the net profit to gross revenues, ownership type, period of establishment, and management strategy of medical institution were significant It was higher in private hospital and medical institution with prospector management strategy, and it was increased with establishment period of medical institution. In multiple logistic regression analysis for the status of financial performance in medical institution, period of establishment, management strategy of medical institution were significant It was better in medical institution with prospector management strategy and longer period of establishment.

• The Journal of Asian Finance, Economics and Business
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• 제6권1호
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• pp.71-81
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• 2019

The objective of the study is to examine the impact of financial development and foreign remittances on poverty and income inequality in the context of Pakistan. The study used ARDL-Bounds testing approach for robust inferences. The results show that in the short-run, remittances increases poverty and income inequality, which further translated into its long-run impact. The result confirmed the inverted U-shaped relationship between per capita income and income inequality, while the second order coefficient of per capita income substantially decline poverty incidence in a country. In the long-run, the results disappeared and it's turned into U-shaped relationship between income inequality and country's per capita income. Education largely decreases income inequality both in the short and long-run, however, it increases poverty in the long-run. Unemployment rate substantially damaged the pro-poor growth scenario, as high unemployment rate increases both the poverty rates and income inequality, which suffered poor more than non-poor in a country. Financial development has a positive impact on poverty reduction and income inequality in the short-run. The impact of income inequality on poverty incidence is positive both in the short- and long-run, which need pro-poor growth policies and rationale income distribution in a country.

• 교육녹색환경연구
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• 제5권1호
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• pp.22-39
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• 2006

The purpose of this study is an overall valuation about propriety study of school facilities BTL(Build-Transfer-Lease) by means of AHP(Analytic Hierarchy Process). The search point includes these questions. Is BTL of school facilities a reasonable project for school, or is the former government financial project on the position of comparative superiority? And, is a partial BTL possible as an alternative plan? The result of this study shows that preference rate about BTL is 39%, that of former government financial project is 32%, and that of partial BTL is 29%.

• 경영과학
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• 제27권1호
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• pp.107-116
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• 2010

There are several stage in corporate's life cycle such as foundation, growth, maturity or bankruptcy. A bankruptcy is very important for corporate in the life cycle. Especially, venture business' life cycle is short compare to other type of corporate. A lot of venture businesses have emerged and bankrupted soon in the market. Venture businesses' survival or bankruptcy have been influenced by not only external environment like the rate of exchange, oil price, and foreign exchange crisis but also internal environment such as efficiency, process, human resources, finance and CEO. In this paper, we attempt to examine financial factors and efficiency that influence on the venture businesses' survival and bankruptcy. The more venture businesses have high efficiency score, the more they have high probability of survival.

• 경영과학
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• 제27권2호
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• pp.55-66
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• 2010

In Korea, deap-sea fishing industry plays an important role in a food industry. However, it is in a difficult situation because of the more competitive business environment. Therefore, there is a need to restructure the deap-sea fishing industry by scraping superannuated ships. This paper is designed to present scrap programs for deap-sea fishing industry of Korea. We performed ratio analysis to evaluate financial performance of fishing companies and then applied a mixed integer programming (MIP) model to identify optimal schedule for scraping. The results of the financial ratio analysis indicates that it is legible to provide governmental aid to Atlantic trawl, Northern Pacific trawl, and Indian ocean trawl with minimum required rate of return (MRR) of 3%, and the Atlantic strip fishing industry is qualified to receive the governmental aid with MRR value of 5%. Furthermore, by applying the MIP model to develop scrap planning, we demonstrate how our model can be used to restructure the deap-sea fishing industry of Korea.

• 해양환경안전학회지
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• 제5권1호
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• pp.79-93
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• 1999

By the IMF condition, tax revenues of local governments are decreasing, under these conditions, container tax take important proportion in financial resources in Pusan Metropolitan City. However the container tax have time limit until 2001, that is, purposeful tax. But after the creating container tax, the level of accomplishment is very insufficient. So for the activation of local economy, we need active study on the existence problem of container tax. Though the abolition of container tax item is frequently discussed in central government, If the worst case comes, namely the abrogation, it gives big damages to the financial management of Pusan Metropolitan City. Therefore the container tax should be existent for both residents and local government. Because the expansion rate of container tax is so rapid, it makes very critical contribution to the stability and sound condition of Pusan Metropolitan City's finances.

• 재무관리연구
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• 제26권1호
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• pp.127-163
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• 2009

This paper examines the results of survey that the foreign ownership is cointegrated with capital market conditions in Korea using Vector Error Correction Model (VECM) and how the mechanism of innovations and dynamics among the foreign ownership and capital market proxies in the VECM was described. Specifically, we find that the foreign ownership and capital market proxies follow I (1) process and there are cointegrated relations between the foreign ownership and capital market proxies. Adopting the impulse response function and variance decomposition in the VECM, we suggest, in turn, the default risk premia, liquidity of market and the rate of interest in long term business cycle take on a special function on the KSE and KOSDAQ. Finally, we also offer evidences of which there are differences of the mechanism of dynamics and innovations between on the KSE and on the KOSDAQ.