• Title/Summary/Keyword: Interest Rate Risk

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Bond Immunization Model with Non-parallel shift Term-Structure using Partial Duration (비평행 이동 기간구조하에서 부분 듀레이션을 이용한 채권 면역 모델)

  • Park, Woo-Cheol;Choi, Gyung-Hyun
    • Journal of Korean Institute of Industrial Engineers
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    • v.26 no.3
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    • pp.249-256
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    • 2000
  • Bond immunization model is used to minimize interest rate risk for investing in fixed-income market, the model equalizes asset and liability values using the duration which is the sensitivity of portfolio value with respect to the interest rate. However this model might generate an error in practice because the model is based on unreal hypothesis, so called "Parallel Shift Term Structure". In this paper, we use the neural network approach to overcome the parallel shift term structure and try to employ this term structure function to the traditional immunization model. Finally, we present some computational test results that show the superiority of the partial immunization model to the traditional methods.

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Model Development of Affecting Factors on Health Behavior and Juvenile Delinquency of Adolescents (청소년의 건강행위와 비행의 영향 요인에 관한 모형 구축)

  • Kim, Hyeon Suk;Kim, Hwa Jung
    • Journal of the Korean Society of School Health
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    • v.11 no.2
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    • pp.171-187
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    • 1998
  • In recent years, adolescent issues including smoking, drinking, drug abuse, juvenile delinquency, deviant sexual behavior, mental health problems, high suicide rate, juvenile delinquency and absence without due notice, etc are emerging as serious social problems and the debate on these controversial issues is heating up. The previous studies on adolescent health behavior and social juvenile delinquency such as run-away from home and absence without due notice have been conducted mostly by cause analysis utilizing social demographic factors or biological factors. In other words, the main factors analyzed were demographic and economic factors or parent's educational level, etc, which were the fixed environmental ones that were unable to cause the change in the health behavior. Accordingly, the purpose of this study is to analyze factors which are changeable and fixable among the factors influencing the adolescent's health behavior and misconducts and, eventually influencing factors which can be used as the basis to establish health policies and health promotion program to reduce the health risk behavior and misconducts of adolescents. The study subjects were selected by dividing senior high school student in Seoul by region and through random sampling. The 890 subjects were selected from 10 schools including the preparatory school, vocational schools and institutional schools. The duration of the study was for July 1-5, 1997 for the first survey and the second one, for August 25-September 10. Regarding the analysis method, the SAS program was used. The adoptablity of theoretical model was tested through covariance structural analysis utilizing PC-LISREL 8.12 Program. The major findings of the study are as follows: As a result of establishing the model of factors influencing health behavior and juvenile delinquency, in case of male students as the health behavior self-efficacy, education level of fathers, economic level, self-control and the health interest of parent were higher, students were more likely to practice the health promoting behavior. Juvenile delinquency and health risk behavior were prevalent among those with the less shyness, the lower health behavior self-efficacy, lower self-control, lower self-assertiveness, lower economic level. The self-control was the most powerful factor. In case of female students, those with higher health behavior self-efficacy were more likely to practice the health promoting behavior whereas those with lower health behavior self-efficacy, lower self-control, lower self- assertiveness, less shyness were more likely to practice health risk behavior and juvenile delinquency. In case of prep schools, those with higher health behavior self-efficacy and better perceived health status were more likely to practice the health promoting behavior while those with less shyness, lower health behavior self-efficacy and lower academic achievement were more likely to engage in health risk behavior and juvenile delinquency. In case of vocational schools, as health behavior self-efficacy and economic level were higher, the practice rate of health promoting behavior was higher. As the self-control, shyness, self-assertiveness, health behavior self-efficacy were lower, the rate of health risk behavior and juvenile delinquency were higher. In case of social institutional schools, as, the health behavior self-efficacy, social support and economic level, health interest of parents were higher, the rate of health promoting behavior were higher. As the self-control, shyness, self-assertiveness, health behavior self-efficacy and social support were lower, the rate of health risk behavior and juvenile delinquency were higher. So the health promoting behavior was positively related to the health behavior self-efficacy, health interest of parents, social support, education level of fathers, level of perceived health status, economic level. The health risk behavior and juvenile delinquency were higher with the lower health behavior self-efficacy, self-control and self-assertiveness, lower health locus control, less shyness and loneliness, lower economic level and academic achievement. In conclusion, the health risk behavior and juvenile delinquency can be reduced by enhancing self-control, self-assertiveness, health behavior self-efficacy and social support. According to the final model drawn by connecting health behavior and juvenile delinquency, the reduction of health risk behavior can greatly contribute to decreasing social juvenile delinquency as the process of juvenile delinquency was extended from common behaviors to problem behaviors and further into juvenile delinquency.

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Lung cancer and insurance medicine (폐암과 보험의학)

  • Lee, Sin-Hyung
    • The Journal of the Korean life insurance medical association
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    • v.31 no.1
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    • pp.34-36
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    • 2012
  • Lung cancer such as small cell lung cancer(SCLC) and non small cell lung cancer(NSCLC) have high mortality rate, so, we insurance doctors have little interest in their risk. But nowadays there's a lot of development in targeted therapy of NSCLC. Screening by CT scanning and early resection strategy also shows better prognosis. It is helpful for underwriters and insurance doctors to review the current development of targeted therapy of NSCLC and estimation of extra-risk of early lung cancer. The preferred treatment option for patients whose tumors contain EGFR-activating mutations are one of the EGFR-directed tyrosine kinase inhibitors, such as gefitinib or erlotinib. In patients with NSCLC whose tumors harboured an ALK rearrangement, there was 61% objective response rate to crizotinib in the phase 1 study. The median survival progression-free survival was 10 months. Mortality analysis of early lung cancer who were detected by CT screening, MR of 105% and EDR of 1‰ were calculated.

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Individual and Familial Risk Factors Associated with Female Adolescents Pregnancy in South Korea (중.고등학교 여학생의 임신경험에 영향을 주는 개인, 가족요인 탐색)

  • Hong, Seong-Ae;Moon, Sun-Soon
    • Korean Journal of Health Education and Promotion
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    • v.26 no.4
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    • pp.105-116
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    • 2009
  • Objectives: In recent years, pregnancy rate among female adolescents has increased and caused a variety of physical and social problems. Therefore, this study aimed to investigate sexual behavior, delinquent behavior, and pregnancy rate among Korean female adolescents. Methods: In light of the growing interest in adolescent pregnancy, this study conducted a web-based survey, titled "The 2006 Youth Health Risk Behavior Survey." The Korean Center for Disease Control (KCDC) collected questionnaire responses from 34,200 young women. The collected data were analyzed through chi-square test and logistic regression using SPSS Win 14.0 version. Results: This study analyzed main factors, which can predict pregnant experience. The statistic results showed two types of the predicting factors: (1) personal factors: sexual relations after drinking (odds 25.1), Narcotic drug taking (odds 13.0), sexual violence act (odds 7.0), part-time job(odds 2.5), drinking, smoking ; and (2) environmental factors: stepfather(odds 4.2) and natural mother. Conclusion: The influential factor identification for predicting pregnancy rate is important to develop an effective education program for preventing the adolescent pregnancy. The education programs with referring to the identified factors can contribute to reducing the unwilling pregnancy rate of young woman.

Epidemiology of Gastroesophageal Junction Adenocarcinoma in Korea

  • Kim, Jin-Jo
    • Journal of Gastric Cancer
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    • v.18 no.4
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    • pp.328-338
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    • 2018
  • The incidence of gastroesophageal junction adenocarcinoma (GEJAC) in Western countries has increased in recent decades, in addition to a rise in the incidence of esophageal adenocarcinoma (EAC). Gastroesophageal reflux disease (GERD), obesity, smoking, alcohol consumption, and low Helicobacter pylori (HP) infection rate have been nominated as risk factors for such cancers. Among these risk factors, the increased prevalence of GERD and obesity and the decreased prevalence of HP infection are of special interest owing to the currently increasing prevalence of GEJAC in Western countries. Although similar trends in the prevalence of GERD, obesity, and HP infection are observed in Asian countries after a time lag from Western countries, it is still uncertain if the prevalence of GEJAC in Asian countries is increasing, especially in Korea. The incidence of GERD in Korea is currently increasing; it was below 3% in the 1990s. The incidence of obesity in the Korean population is increasing owing to the adoption of westernized lifestyles, including food preferences, and the HP infection rate in Korea is known to be decreasing. Therefore, based on logical extrapolation of observations of Western countries, the incidence of GEJAC will increase in Korea. However, the proportion of GEJAC among other upper gastrointestinal malignancies in Korea appears to be currently unchanged compared with that in the 1990s. Presently, there is a lack of epidemiologic studies on this issue in this region; therefore, more studies are needed to clarify the characteristics of these tumors and to improve clinical outcomes for patients with these tumors.

The Default Risk of the Research Funding with Uncertain Variable in South Korea, Along with the Greeks (옵션민감도를 고려한 기술자금의 경제적 가치와 실패확률)

  • Sim, Jaehun
    • Journal of Korean Society of Industrial and Systems Engineering
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    • v.44 no.1
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    • pp.1-8
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    • 2021
  • As a nation experiencing rapid economic growth, South Korea and its government have made a continuous effort toward efficient research investments to achieve transformation of the Korean industry for the fourth industrial revolution. To achieve the maximum effectiveness of the research investments, it is necessary to evaluate its funding's worth and default risk. Thus, incorporating the concepts of the Black-Scholes-Merton model and the Greeks, this study develops a default-risk evaluation model in the foundation of a system dynamics methodology. By utilizing the proposed model, this study estimates the monetary worth and the default risks of research funding in the public and private sectors of Information and Communication technologies, along with the sensitivity of the R&D economic worth of research funding to changes in a given parameter. This study finds that the public sector has more potential than the private sector in terms of monetary worth and that the default risks of three types of research funding are relatively high. Through a sensitivity analysis, the results indicate that uncertainty in volatility, operation period, and a risk-free interest rate has trivial impacts on the monetary worth of research funding, while volatility has large impacts on the default risk among the uncertain factors.

Effects of Bank Macroeconomic Indicators on the Stability of the Financial System in Indonesia

  • VIPHINDRARTIN, Sebastiana;ARDHANARI, Margaretha;WILANTARI, Regina Niken;SOMAJI, Rafael Purtomo;ARIANTI, Selvi
    • The Journal of Asian Finance, Economics and Business
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    • v.8 no.1
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    • pp.647-654
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    • 2021
  • This study examines the non-performing loans of rural banks and macroeconomic factors in Indonesia, including inflation, exchange rates, and interest rates. Theoretically, the existence of erratic macroeconomic conditions can affect the level of non-performing credit risk in rural credit banks in Indonesia. The effect of macroeconomic conditions on non-performing loans has a different response for each economic sector. The main objective of this study is to determine the effect of macroeconomic factors (inflation, exchange rates, and interest rates) and bank-specific factors (credit) on the Non-Performing Loans (NPL) of Rural Banks in Indonesia for the period from January 2015 to December 2018. This study uses a Vector Error Correction Model (VECM) estimation to determine the effect of independent variables consisting of macroeconomic factors and bank-specific factors. Based on the estimation results of the Vector Error Correction Model, three variables that have a positive and significant effect on long-term non-performing loans are credit, inflation, and interest rates. Meanwhile, in the short term, there are only two variables that have a positive and significant effect on non-performing loans, namely, credit and interest rates. Inflation and exchange rate variables have a negative and insignificant effect on bad credit in the short term.

Income Distribution and Factors Affecting the Bank's Stability

  • TRINH, Viet Xuan;DO, Du Kim;NGUYEN, Anh Thi Lan
    • Journal of Distribution Science
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    • v.20 no.9
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    • pp.23-28
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    • 2022
  • Purpose: Research on banking sustainability plays an important role in helping banks understand the level of risk in different types of companies. Therefore, this study was conducted to determine the factors affecting the sustainability of Joint Stock Commercia l Banks in Vietnam. Research design, data and methodology: The following theories, the factors affecting the bank's sustainability include: Business model diversification (income diversification), bank size, loan ratio, and net interest margin. Data was collected from Joint Stock Commercial banks in Vietnam from 2015 to 2019. With GLS model on panel data with banks listed on Vietnam stock exchange. Results: The analysis results show that net interest income has a positive impact on the sustainable business results of banks through the rate of return on total assets (ROA). The non-interest income hasn't impact on bank stability. From this result, there aren't positive signs of income diversification in banks. At the same time, with the obtained results, the study also provides a policy implication for banks. Conclusions: The study also provides some policy implications to improve the bank stability. Diversifying income in banks is necessary, but how to make it influential banks has not yet been done. Therefore, the adjustments in non-interest business activities need to be carefully considered by banks.

Evaluation of Tungsten Blended Filament Shields Made by 3D Printer in Radiography (일반촬영분야에서의 3D 프린터로 제작한 텅스텐 혼합 필라멘트 차폐체의 성능평가)

  • Yoon, Joon;Yoon, Myenog-Seong
    • Journal of radiological science and technology
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    • v.44 no.6
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    • pp.615-621
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    • 2021
  • In the medical field, radiation provides information for the diagnosis and treatment of diseases. As the use of radiation increases and the risk of exposure increases, interest in radiation protection is also rapidly increasing. Lead shielding material is mainly used, which has a risk of lead poisoning and absorption into the body. Tungsten mixed filament shielding sheets were fabricated with a size of 70 × 70 mm and a thickness of 1, 2, and 4 mm by using a 3D printer. In the general shooting experiment, the thickness of the shielding sheet is 1 ~ 5mm, the tube voltage is 60, 80, 100, 120 kVp and the tube current is 20, 40 mAs. In general photography, Tungsten showed better shielding rate compared to Brass, Copper, and Lead protective tools under all irradiation conditions, and in particular, Tungsten 5 mm showed 100% shielding rate. The 3D-printed tungsten mixed filament shielding is expected to be used as a new shield that can replace the existing lead protection tools as it shows a better shielding rate than the existing lead protection tools in Radiography.

Optimal bandwidth in nonparametric classification between two univariate densities

  • Hall, Peter;Kang, Kee-Hoon
    • Proceedings of the Korean Statistical Society Conference
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    • 2002.05a
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    • pp.1-5
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    • 2002
  • We consider the problem of optimal bandwidth choice for nonparametric classification, based on kernel density estimators, where the problem of interest is distinguishing between two univariate distributions. When the densities intersect at a single point, optimal bandwidth choice depends on curvatures of the densities at that point. The problem of empirical bandwidth selection and classifying data in the tails of a distribution are also addressed.

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