• 대한물리의학회지
• /
• 제2권1호
• /
• pp.73-84
• /
• 2007

Purpose : The purpose of this study was to determine risk factors and methods in balance assessment associated with fall in older adults. Methods : This article describes many of the tools that can be used to evaluate the physical parameters associated with fall risk in older adults. Results : Composite ratings of performance(Tinetti balance assessment, Guralnik test battery, Berg balance scale, modified-physical performance test) measures the score compounding the balance measure to determine fall risk. Static balance instruments are composed of FICSIT-4 that measures the ability of maintaining foot positions and CTSIB that measures postural stability. Dynamic balance instrument is composed of functional reach test. To measure walking velocity and mobility, 8-foot up-and-go test and walking around two cones are used. We can use 1-RM and to measure muscular strength, isokinetic dynamometery, and 30-second chair stand to measure lower extremity muscle strength. Conclusion : The described instruments are easy to use and widespread. To select and use these tool kits carefully is considered to be helpful in identifying those who are most likely to fall. The final part of the article includes a brief discussion of the potential role of exercise training interventions to improve these physical parameters and prevent falls.

• 해양환경안전학회:학술대회논문집
• /
• 해양환경안전학회 1999년도 춘계학술발표회논문집
• /
• pp.43-51
• /
• 1999

The objective of this research is to ensure that the ports and waterways management system can establish and maintain a reasonable level of safety level during high density passenger operations. The research model was developed included computer based model that could be used that can be used to measure and monitor risk and evolved overtime. The research methodology provides model for assessing relative risk and evaluating risk reduction measures. The risk analysis based on expert judgement was refined overtime. They provide a basis for risk reduction and risk management policies and strategies. The evaluation and validation of risk model and development of data, methods, tools required to measure, monitor and evaluate ports and waterway risk was implemented.

• 한국안전학회지
• /
• 제31권4호
• /
• pp.120-125
• /
• 2016

Usually, a risk can be expressed as a product of likelihood and consequence of a hazard factor. Therefore, conventional risk assessment is carried out by frequency analysis and severity analysis, in turns. However, it is well known that intuitive thinking is another excellent way of thinking of human beings. This study aimed to confirm whether there exist any difference in risk assessment results derived by two different procedures - intuitive and analytical. Thus, the present study showed 10 different illustrations to 30 undergraduate students. Their responses were organized as fuzzy membership functions, and summarized as risk assessments, and compared. The results were also verified with the help of statistical hypothesis testing, which showed no significant difference. On the contrary, however, similarity measure used in fuzzy set theory was not credible as anticipated. Many cases failed to satisfy statistical hypothesis even with similarity measure higher than 0.60 so that only a trend could be accepted. In addition, a subject showed a somewhat consistent logical discrepancy in his response, which implied the necessity of sincere analysis in fuzzy formulations.

• Journal of the Korean Society for Industrial and Applied Mathematics
• /
• 제16권2호
• /
• pp.137-149
• /
• 2012

We propose an efficient method to measure the insurance risk of causality insurance companies by using the CreditRisk+ methodology. This method is superior to previous methods in several aspects. Its computation speed is very fast and the input data form is simple. It is able to aggregate both credit risk and insurance risk, so the insurance company can manage the risk in combined manner. In this paper, we propose a mathematical method to obtain the aggregate loss distribution of portfolios having correlation among products or business lines as a general case, and then suggest its implementation algorithm. Finally we apply this method to the real data from Korea Insurance Development Institute (KIDI) and discuss its availability to real applications.

• 한국경영과학회지
• /
• 제29권2호
• /
• pp.45-57
• /
• 2004

The purpose of this paper is studying the valuation of option prices in Incomplete markets. A market is said to be incomplete if the given traded assets are insufficient to hedge a contingent claim. This situation occurs, for example, when the underlying stock process follows jump-diffusion processes. Due to the jump part, it is impossible to construct a hedging portfolio with stocks and riskless assets. Contrary to the case of a complete market in which only one equivalent martingale measure exists, there are infinite numbers of equivalent martingale measures in an incomplete market. Our research here is focusing on risk minimizing hedging strategy and its associated minimal martingale measure under the jump-diffusion processes. Based on this risk minimizing hedging strategy, we characterize the dynamics of a risky asset and derive the valuation formula for an option price. The main contribution of this paper is to obtain an analytical formula for a European option price under the jump-diffusion processes using the minimal martingale measure.

• Journal of applied mathematics & informatics
• /
• 제27권3_4호
• /
• pp.843-856
• /
• 2009

In possibility framework, we propose two risk measures named Fuzzy Value-at-Risk and Fuzzy Conditional Value-at-Risk, based on Credibility measure. Two portfolio optimization models for fuzzy portfolio selection problems are formulated. Then a chaos genetic algorithm based on fuzzy simulation is designed, and finally computational results show that the two risk measures can play a role in possibility space similar to Value-at-Risk and Conditional Value-at-Risk in probability space.

• 유통과학연구
• /
• 제20권12호
• /
• pp.81-87
• /
• 2022

Purpose: This study aims to explore the relationship between stock liquidity and skewness risk-tail risk (stock price crash risk) in an emerging market, in which problems on liquidity are more severe than in developed markets. Research design, data, and methodology: Based on the Thai market stock exchange over the period of 2000 to 2019, our sample include 13,462 firm-period observations. We employ a panel regression models regarding to five liquidity measures. These five liquidity measures cover three dimensions of liquidity namely the volume-based, price-based, and transaction cost-based measures for the liquidity-tail risk relationship. Results: We find a positively significant relationship between stock liquidity and tail risk in all cases. The finding here shows that the higher the stock liquidity, the larger the tail risk is. Conclusion: As the prior studies show inconclusive effect of stock liquidity on stock price crash risk, we demonstrate that mixed results found in prior studies are probably driven from the type of liquidity measure. The stock liquidity-tail risk association is present in the Stock Exchange of Thailand. The results remain the same regardless of the definition of tail risk and liquidity factors. An endogeneity issue is addressed by employing the two-stage least squares regression.

• 보건교육건강증진학회지
• /
• 제29권3호
• /
• pp.53-61
• /
• 2012

Objectives: Improving public capability to obtain, understand, and use health information is important for decision-making and communication. This study attempts to measure adults' literacy of the information provided by a public health institution. Factors affecting different health literacy level are also investigated. The relation between public risk perception and health literacy is examined as well. Methods: A total of 800 korean adults were surveyed. To provide the participants health literacy questions, health messages of heavy metals released by KFDA as well as literacy questions developed by NIKL were used. A total of eight questions were developed to measure health literacy. The dimensions of risk perception proposed by Brewer et al.(2008) were modified to measure risk perception. Results: The average percentage of correct answer for all literacy questions was only 65.57%. Individuals at the older age, and with lower education/ income level were more likely to be low literate. In addition, health literacy was strongly associated with risk perception. Conclusions: Public literacy of health information is influenced by socio demographic factors. This study suggested a possibility that low health literacy may affect unrealistically high risk perception. Further studies with sophisticated methodologies to measure health literacy need to be developed.

• The Journal of Asian Finance, Economics and Business
• /
• 제8권2호
• /
• pp.25-39
• /
• 2021

This purpose of this study is to investigate the association among mutual funds (MFs) risk measures and return parameters, evaluate mutual fund performance and also explore the best appropriate mutual fund performance measure for investment in Pakistan. Therefore, thirty-five mutual funds have been selected for the period 2007-2015. The Sharpe, Treynor, Jensen Alpha, Information ratio and Fama's Net Selectivity measures has been used to analyze MF performance. Our study findings show significant positive relation exist between Sharpe and Jenson alpha & information ratio (IR); Treynor ratio is negatively correlated to Jenson alpha and Jenson alpha is positively allied with IR. Moreover, association among performance measures, Fama's net selectivity is a major driver in leading to other measures but Sharpe and IR lead to Treynor ratio as well. Furthermore, performance measures are ranked in accordance standard deviation with the arrangement of Fama's net selectivity at top, Jenson Alpha at second, Sharpe ratio at third, IR at fourth and Treynor ratio at fifth position according to risk parameters in Pakistan. Overall, Jensen Alpha measure appears to be the best suitable mutual fund performance measure in Pakistan due to its practical nature. Finally, the Pakistani stock market index KSE100 (as benchmark) performs better than MF industry of Pakistan.

• 한국지능시스템학회:학술대회논문집
• /
• 한국퍼지및지능시스템학회 2003년도 ISIS 2003
• /
• pp.555-558
• /
• 2003

The Choquet-Stieltjes integral is defined. It is shown that the Choquet -Stieltjes integral is rep-resented by a Choquet integral. As an application of the theorem above, it is shown that Choquet expected utility model for decision under uncertainty and rank dependent utility model for decision under .risk are respectively same as their simplified version.