• Title/Summary/Keyword: Investment Risk

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A Study on USA, Japan and India Stock Market Integration - Focused on Transmission Mechanism - (미국, 일본, 인도 증권시장 통합에 관한 연구 - 정보전달 메카니즘을 중심으로 -)

  • Yi, Dong-Wook
    • International Area Studies Review
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    • v.13 no.2
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    • pp.255-276
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    • 2009
  • This article has examined the international transmission of returns among S&P500, Nikkei225 and SENSEX stock index cash markets using the daily closing prices covered from January 4, 2002 to February 6, 2009. For this purpose we employed dynamic time series models such as the Granger causality analysis and variance decomposition analysis based on VAR model. The main empirical results are as follows; First, according to Granger causality tests we find that S&P500 stock index has a significant prediction power on the changes of SENSEX and Nikkei225 stock index market and vice versa. However, US stock market's influence is dominant to the other stock markets at a significant level statistically. Second, according to variance decomposition, SENSEX stock index is more sensitive to the movement of S&P500 than that of Nikkei225 stock index. These kinds of empirical results shows that the three stock markets are integrated over times and these results will be informative for the international investors to build the world-wide investment portfolio and risk management strategies, etc.

Return Migration and Identity Shifting: A Case Study of the Ethnic Chinese Refugees in Vietnam (베트남 화인의 귀환이주와 정체성 변화에 관한 연구)

  • CHOI, Ho Rim
    • The Southeast Asian review
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    • v.27 no.2
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    • pp.77-118
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    • 2017
  • This study examines the identities shifting experiences of the ethnic Chinese refugee migrants who have returned to Vietnam. Their complex and hybrid identities as diaspora is an analytical and empirical subject for this study. Since the Vietnamese government implemented the renovation (đổi mới) policy in 1986, the number of overseas Vietnamese returning to Vietnam for visit, work, investment and retirement has been increasing. Among the returnees, many are ethnic Chinese, as there were many Chinese Vietnamese in the Vietnamese refugee diaspora from Vietnam during the 1970s and the 1980s. When they left Vietnam they were called 'the Hoa' (Chinese) or 'Hoa kiều' (overseas Chinese). When they returned, however, they were recognised together with all other returnees into the category of Việt kiều (overseas Vietnamese). Although their 'Chinese' identity had once made them to risk their lives, their 'Vietnamese' identity brought them back to Vietnam at other turning points in their lives. The shifting identity of these returning Chinese Vietnamese has produced dynamic and complex migration stories and an intriguing category of hybrid diaspora.

Perfecting the System for Assessment of the Financial Potential of a Transport Enterprise

  • Nesterov, Evgeny Aleksandrovich;Borisov, Andrei Viktorovich;Shadskaja, Irina Gennadievna;Shelygov, Aleksandr Vladimirovich;Sharonin, Pavel Nikolaevich;Frolov, Alexander Lvovich;Lebedeva, Olga Yevgenievna
    • International Journal of Computer Science & Network Security
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    • v.22 no.7
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    • pp.109-116
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    • 2022
  • The article is devoted to perfecting the system of management of the financial potential of transport enterprises. It is established that transport as an integral part of the state economy has to organically enter the market economy and provide sustainable transport services to national economy enterprises regardless of ownership, as well as ensure passenger transportation. It is also determined that in the conditions of market relations, transport highways must perform their functions with sufficient economic benefit to keep their material and technical resources in good order, conduct an investment policy with extensive use of scientific and technological progress, as well as a social policy guaranteeing the conditions for employees' motivated work. The study reveals an association between the financial and strategic goals of transport enterprises and the minimization of their economic risks, the prevention of bankruptcy and profit margin shortfalls. It is found that transport enterprises need to strive for the overall improvement of their financial potential through increasing the components of financial potential and assessing the impact of risk factors on them: the capacity of fixed assets, the capacity of financial resources, the capacity of services, and the capacity of credit opportunities. These are the elements of transport enterprises' financial potential that ensure its desired level. It is demonstrated that of critical importance in managing the financial potential of a transport enterprise is the role of financial resources, as a subject cannot reach the desired strategic goals without them.

IT-based physical activity and exercise programs for individuals with spinal cord injury

  • Choi, Hyunhee
    • Journal of the Korea Society of Computer and Information
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    • v.27 no.2
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    • pp.187-194
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    • 2022
  • This study is to encourage physical activity and exercise in people with spinal cord disabilities so that they can have a positive effect on health outcomes. Current evidence shows that IT-based muscle strength and muscle endurance, cardiopulmonary exercise, electrical stimulation exercise, and robot exercise can all improve physical components, reduce the risk of secondary health complications, and have a positive impact on the overall health of people with chronic physical disabilities. To improve muscle strength and muscle endurance, exercise frequency should be conducted twice and three sets a week, <5 Reps to improve muscle strength, general strength should be repeated 6 to 15 times, and 15 to 30 times to improve muscle endurance. In order to improve cardiopulmonary ability, it should be conducted 3-5 times a week, 20-60 minutes, and 50-80% of the maximum heart rate. Therefore, higher resource investment is needed to realize various IT-based exercise benefits and access professional equipment, facilities and trainers.

Research Trends of Technology Holding Companies and Suggestions for improving Corporate Performance : Focusing on the introduction of PMO (기술지주회사 연구동향과 기업성과 향상을 위한 제언 : Project Management Office(PMO) 도입을 중심으로)

  • Lee, Kangoh;Lee, Chanho
    • Journal of East Asia Management
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    • v.4 no.1
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    • pp.53-77
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    • 2023
  • Modern company faces an uncertain future and a competitive environment and are seeking new technologies and creative products to ensure the corporate growth and survival in the market through continuous innovation. "University Industry Cooperation(UIC)" is a point of contact for overcoming the crisis faced by companies and universities in this era and a cooperation platform for mutual prosperity. As a subsidiary of a university, "Technology Holding Company(THC)" is attracting attention as a new window for UIC in Korea. The role of THC is to establish and foster the business opportunities of their subsidiaries and to return investment profits to the university ecosystem again. But recently, the life cycle of technology is getting shorter, and the development cost is steadily increasing. In particular, with the increase of hybrid projects based on convergence and combination, the risk of conducting research(R&D) and new product development(NPD) projects is gradually increasing. A PMO refers to a project management organization that can contribute to improving the success rate of projects with increasing uncertainty by supporting project visibility and appropriate decision-making. The purpose of this study is to raise a research question on whether THC's corporate performance can be improved when "Project Management System(PMO Service)" is introduced into the subsidiary incubation system of THC. This study proposes several research methods to identify the relationship between the introduction of PMO and the corporate performance of THC.

A Study on the Safety and Health Management System Improvement Plan according to the Implementation of the Serious Accident Punishment Act - Focused on H Construction Company (중대재해처벌법 시행에 따른 안전보건경영시스템 개선방안 연구 - H건설사 중심)

  • Kwang-eun Choi
    • Journal of the Society of Disaster Information
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    • v.19 no.2
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    • pp.372-382
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    • 2023
  • Purpose: Suggests measures to improve the construction company's safety management system according to the enforcement of the Severe Accident Punishment Act. Method: The effectiveness of practice-oriented disaster prevention activities was analyzed through safety and health diagnosis of the level of safety and health management system for the countermeasures against the Severe Accident Punishment Act implemented at the construction site and headquarters. Result: The effect of reducing the accident rate and the advancement of the safety and health management system were analyzed by linking the Severe Accident Punishment Act with the safety and health management system, and a plan to improve the safety and health management system was presented through the analysis of the comprehensive results of safety activities before and after the implementation of the Severe Accident Punishment Act. Conclusion: The effect of practical performance measurement was manifested through the improvement of business owners' awareness, the expansion of investment for disaster prevention, and the quantification of disaster prevention activities according to the enforcement of the Severe Accident Punishment Act.

A Study on the Significance of Unit Capacity Factor (Utilization Rate) of Nuclear Power Plants and Measures for Increasing (원전 이용률의 의의 및 증진방안 고찰)

  • Don Kug Lee;Chi Bum Bahn
    • Transactions of the Korean Society of Pressure Vessels and Piping
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    • v.18 no.2
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    • pp.87-100
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    • 2022
  • Unit capacity factor (utilization rate) of nuclear power plants (NPPs) is an important performance indicator. Since the first commercial operation of Kori Unit 1 began in April 1978, the utilization rate of domestic NPPs has gradually increased, reaching 90% from the end of the 1990s. However, due to various issues such as the Fukushima accident in 2011, corrosion of the CLP, the utilization rate dropped to 65~80%. In the early 1980s, the utilization rate of the U.S. NPPs was around 60%. However, since 2004, it has been consistently maintained above 90%. Therefore, in this study, we first examined the causes of declining the utilization rate in domestic NPPs. Next, the significances of the utilization rates are reviewed in five aspects: investment capability, electricity rate, safety and export, etc., with discussion on the current status of the utilization rates in the U.S. Based on this, three key factors are derived as the reasons of the increasing: equipment reliability program, on-line maintenance and the pursuit of institutional rationality. And finally, by synthesizing above results, the measures for increasing the utilization rate of domestic NPPs are proposed in terms of equipment management, institutional improvements, and personnel resources.

A study on the adoption of smart work for ICT companies : Focusing on the innovation resistance model (ICT 기업을 대상으로 한 스마트워크 도입에 관한 연구: 혁신저항모델을 중심으로)

  • Oh Yongmin;Noh Hyeyoung
    • The Journal of the Convergence on Culture Technology
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    • v.9 no.5
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    • pp.649-659
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    • 2023
  • Smart work, which utilizes ICT technology to work without time and space constraints, has been difficult to introduce and spread despite a lot of research and investment based on the 'smart work vitalization strategy' that began in 2010. Although the environment of COVID-19 in 2019 was an opportunity to promote the adoption of smart work. After that, many companies ended or reduced the adoption of smart work again. This study was initiated to examine the factors that resist the introduction of smart work based on the innovation resistance model and to suggest alternatives. As a result of this study, relative advantage showed a strong effect on both introduction resistance and introduction intention. However, it was confirmed that perceived risk and complexity did not directly negatively affect introduction intentions, but had a negative effect on introduction intentions through mediating resistance to introduction. Through the results of this study, it was confirmed that if the practical benefits of smart work were emphasized and negative attitudes were reduced, the resistance to introduction would be lowered and the intention to introduce it would be positively affected.

Predicting the Baltic Dry Bulk Freight Index Using an Ensemble Neural Network Model (통합적인 인공 신경망 모델을 이용한 발틱운임지수 예측)

  • SU MIAO
    • Korea Trade Review
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    • v.48 no.2
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    • pp.27-43
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    • 2023
  • The maritime industry is playing an increasingly vital part in global economic expansion. Specifically, the Baltic Dry Index is highly correlated with global commodity prices. Hence, the importance of BDI prediction research increases. But, since the global situation has become more volatile, it has become methodologically more difficult to predict the BDI accurately. This paper proposes an integrated machine-learning strategy for accurately forecasting BDI trends. This study combines the benefits of a convolutional neural network (CNN) and long short-term memory neural network (LSTM) for research on prediction. We collected daily BDI data for over 27 years for model fitting. The research findings indicate that CNN successfully extracts BDI data features. On this basis, LSTM predicts BDI accurately. Model R2 attains 94.7 percent. Our research offers a novel, machine-learning-integrated approach to the field of shipping economic indicators research. In addition, this study provides a foundation for risk management decision-making in the fields of shipping institutions and financial investment.

CORPORATE GOVERNANCE PRACTICE OF TAIWAN LISTED CONSTRUCTION COMPANIES AND ITS CORRELATION WITH INDUSTRIAL FEATURES

  • Hui-Yu Chou
    • International conference on construction engineering and project management
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    • 2011.02a
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    • pp.413-419
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    • 2011
  • Corporate governance is a system articulating the division of responsibilities among different company members, and defining the running rules and procedures for making decisions on corporate affairs. The separation of ownership and management in modern enterprises brings agency problems to the company shareholders, and it is wildly believed that good practice on corporate governance is essential to prevent managers from taking actions by which profiteering their own benefits but compromising the interests of shareholders. This research investigates the level of companies' compliance with the corporate governance codes to find whether significant differences in corporate governance practice exist between the listed construction companies and the national leading companies in Taiwan. Further exploration focuses on the correlation between the compliance level and the industrial features. The investigation finds that: (1)Construction companies display lower levels of corporate governance compliance; (2)Construction companies display lower levels of structural board independence and respect for stakeholders; (3)Compliance levels of construction companies are correlated with the number of employees and the ownership concentration; (4)Compliance levels of the whole sample companies are correlated with the factors representing firm size, such as turnover, capital and number of employees, but are independent of profitability as well as stock price volatility. The above empirical evidence characterizes the features of corporate governance in Taiwan listed construction companies, including: (1)Large companies lurking high risk of agency problems have more willingness to conduct corporate governance and meanwhile can afford higher costs for the conduction, so that their compliance level would be higher than smaller companies; (2)Construction companies in Taiwan have higher ownership concentration, on account of the industrial tradition of family business, and therefore pay less attention to the compliance with structural board independence and respect for stakeholders. However, the conclusions indicate that further studies are essential to clarify whether the above disparities would lead to a negative cycle of corporate governance practice in construction industry. The benefits of corporate governance should unfold more evidently to convince construction companies for improving their investment environment and stimulating their healthy growth.

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