• Asia-Pacific Journal of Business
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• v.14 no.4
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• pp.151-161
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• 2023

Purpose - In this study, we examine the factors related to the asset allocation decisions of individual investors who 1) directly invest in stocks or bonds, 2) indirectly invest in various fund products (excluding CMA and MMF), and 3) invest in both products. Design/methodology/approach - We collect a sample of 3,000 individual investors and investigate the factors influencing investment behavior, especially the diversification tendency in asset allocation, with the "Investor Behavior Survey" that is conducted jointly by the Korea Financial Investment Association and the Korea Gallup Research Institute in 2011 and 2012. Findings - Our regression analyses estimate the marginal effects of various factors such as the amount of total financial assets, monthly income, occupation, age, and gender. The results reveal that male investors with manual labor occupations were less inclined to diversify their investments compared to female investors in office jobs. Additionally, higher monthly income is associated with a greater inclination toward diversification. Therefore, if a positive relationship exists between income and educational level, we may suggest that higher educational levels lead to a greater tendency for diversification. Research implications or Originality - Interestingly, investors who engage in direct investments tend to exhibit a weaker diversification tendency as the amount of their direct investment increases. On the other hand, investors who engage in both direct and indirect investments show a weaker diversification tendency as the amount of total financial assets increases. This suggests that the investment style of investors is closely related to their diversification behavior.

• Journal of Technology Innovation
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• v.5 no.2
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• pp.155-177
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• 1997

Since 1995 the Korean Ministry of Science and Technology has introduced and implemented a project based system (PBS) for awarding R&D funds. While capital investments for national laboratories such as buildings and research facilities are supported by the government, normal operating expenses including personnel expenses should be earned by national laboratories through open competition under PBS. The project budget includes both direct research costs and indirect costs. The purpose of this paper is to examine the components of indirect costs and to examine determinants of indirect costs of national laboratories in Korea. The indirect costs of nineteen national laboratories are examined. The direct personnel costs and indirect personnel costs out of total personnel costs are 72% and 28%, respectively. The average indirect cost rate is 74.1% of direct personnel costs. Major components of indirect costs are general operating costs, indirect personnel costs, taxes and dues, and expenses related to the usage of equipment. The significant determinants of indirect cost are indirect personnel ratio. the ratio of unique projects, the type of national laboratories (pure research laboratories or other), and asset activity ratio measured as research divided by total assets. The high indirect personnel ratio, the high ratio of unique projects, the laboratories classified as other, the low asset activity ratio are related to high indirect cost rates.

• Journal of Korean Society of Rural Planning
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• v.4 no.1
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• pp.32-39
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• 1998

In Korea, rural village improvement has mainly been led by goverment investment. This approach, however, has its own limit since there are so many village to be improved while the budgetary sources are restricted, As an alternative, inducement of private investments to these area is considered in order to promote rural village improvement. The possibility of inducing private investments to the rural village improvement depends on the location of the village. The possibility may be highest in the sub-urban area since expected benefits from land development is usually high. One desirable approach to induce private investment to these area is the cooperative development system. Residents, private investors and governments plays its own role, independently and cooperatively, But benifits from the investment to improve rural village in general plain area are so low that it is difficult to induce the private investments to these area. In that case, indirect development system will be a proper strategy which maintaining government-led development method as usual, expanding the participation of private developers such as the construction companies. In general, rate of returns from investment to the rural sectors is lower than that to the other sectors, therefore financial support such as the long- term, low loan rate and a partial value-added tax exemption should be given to the investors to the rural village improvement projects.

• Journal of the Korean Operations Research and Management Science Society
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• v.28 no.3
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• pp.103-122
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• 2003

This research shows that as the use of IT spreads, the Investments of IT must be accompanied by the innovation of the business process of an organization to increase productivity. It examines closely to the relations between these by presenting a theoretical formula, with related-theories at the basis, that shows the characteristics of IT Infrastructure and heightens the results of organization. In previous researches, various results co-exist in presenting the direct relativeness between IT Infrastructure and results of organization. But in this research, a parameter called business process has been included making it possible to analyze even the indirect effects to the results of organization. Also, the difference and relativity between the IT Infrastructure and business process groups according to the company environment factor has been proved.

• Asian-Australasian Journal of Animal Sciences
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• v.17 no.8
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• pp.1039-1046
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• 2004

A model Indigenous Thai beef cattle breeding structure consisting of nucleus, multiplier and commercial units was used to evaluate the effect of changes in heritabilities of and genetic correlations between adaptation traits on genetic gain and profitability. A breeding objective that incorporated adaptation was considered. Two scenarios for improving both the production and the adaptation of animals where also compared in terms of their genetic and economic efficiency. A base scenario was modelled where selection is for production traits and adaptation is assumed to be under the forces of natural selection. The second scenario (+Adaptation) included all the information available for base scenario with the addition of indirect measures of adaptation. These measures included tick count (TICK), faecal egg count (FEC) and rectal temperature (RECT). Therefore, the main difference between these scenarios was seen in the records available for use as selection criteria and hence the level of investments. Additional genetic gain and profitability was generated through incorporating indirect measures of adaptation as criteria measured in the breeding program. Unsurprisingly, the results were sensitive to the changes in heritabilities and genetic correlations between adaptation traits. However, there were more changes in the genetic gain and profitability of the breeding program when the genetic correlations of adaptation and its indirect measures were varied than when the correlations between these measures were. The changes in the magnitudes of the genetic gain and profit per cow stresses the importance of using reliable estimates of these traits in any breeding program.

• The Korean Journal of Applied Statistics
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• v.24 no.6
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• pp.1021-1031
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• 2011

Equity linked securities are indirect investments where the return of investment depends on the performance of the underlying equities. In this paper, we review the profit structure of typical equity linked securities through a profit diagram and investigate which characteristics of time series at the investment affect the early repayment of the stepdown ELS based on KOSPI 200 and HSI. We also compare VaRs using the empirical distribution function for risk management.

• Journal of Astronomy and Space Sciences
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• v.33 no.1
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• pp.63-67
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• 2016

The Korea Institute of Science and Technology Information (KISTI) has been studying the e-Science paradigm. With its successful application to particle physics, we consider the application of the paradigm to astroparticle physics. The Standard Model of particle physics is still not considered perfect even though the Higgs boson has recently been discovered. Astrophysical evidence shows that dark matter exists in the universe, hinting at new physics beyond the Standard Model. Therefore, there are efforts to search for dark matter candidates using direct detection, indirect detection, and collider detection. There are also efforts to build theoretical models for dark matter. Current astroparticle physics involves big investments in theories and computing along with experiments. The complexity of such an area of research is explained within the framework of the e-Science paradigm. The idea of the e-Science paradigm is to unify experiment, theory, and computing. The purpose is to study astroparticle physics anytime and anywhere. In this paper, an example of the application of the paradigm to astrophysics is presented.

• Journal of Environmental Policy
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• v.14 no.4
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• pp.63-101
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• 2015

Banking and borrowing under the ETS may affect the low carbon technology investment level. If the indirect implementation measures are allowed, firms can gradually adjust their carbon reduction costs between implementation periods based on their carbon reduction costs and emission price forecasts. This implies that banking and borrowing may reduce or increase the level of low carbon technology R&D investment. In an oligopoly market, the effects of the measures are quite different from the ones in a perfectly competitive market. This is because the indirect implementation measures can shift market competition in Cournot competition model. The effects of banking and borrowing on the carbon reduction R&D investments depend on emission reduction costs, marginal production costs, discount rate, initial free allocation, and the cost reduction effects of R&D investment.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.43 no.3
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• pp.122-134
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• 2020

As globalization has been progressed, companies faced a situation in which it was difficult to secure global competitiveness only with their internal management systems. To overcome this, Supply Chain Management (SCM) emerged, which optimizes the whole supply chain process from suppliers to demand companies. In this study, it was analyzed that the effects of customer integration among the integration factors of SCM, and market orientation among the strategic orientations on management performances such as non-financial performance and financial performance through a mediating role of flexibility. At this time, it was analyzed whether CEO's support has a moderating effect on the influence of the market orientation. As a result of analysis, the customer integration was found to have an indirect effect on the non-financial performance and the financial performance through the flexibility. The market orientation was found to have a direct effect on the non-financial performance and at the same time, indirectly affected it through the flexibility. In addition, it was shown that more the level of CEO's support, higher the influence of the market orientation. This moderating effect had an indirect effect on the financial performance. Based on the above findings, various implications for improving management performance were proposed. This study suggests that investments in computerization such as ERP and smart factories can improve supply chain management performance and ultimately improve customer satisfaction and financial performance.

• Journal of the Korea Institute of Building Construction
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• v.10 no.3
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• pp.71-81
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• 2010

In 1994, Korean construction research and development (R&D) projects received investments amounting to 1.2 billion KRW, an amount that rose to 164.8 billion KRW in 2007. Under the current system, construction researchers submit the application records of Construction Research and Development (R&D) in construction projects to the Korea Institute of Construction & Transportation Technology Evaluation and Planning. The performance of Construction R&D projects has thus been dependent on the subjective reporting of the results by the researchers themselves. For this reason, it is difficult to secure confidence in the records of Construction Research and Development. Therefore, this research suggested measures for revitalizing Construction Research and Development, analyzed approaches to cost-saving in Construction Research and Development, and analyzed economic effectiveness in the results of construction R&D.