• The Journal of Asian Finance, Economics and Business
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• v.8 no.2
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• pp.25-39
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• 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.

• Journal of Korea Port Economic Association
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• v.26 no.4
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• pp.168-187
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• 2010

The mutual risk management in port is really important for operating the enterprise between container terminals who provide port service and shipping liners who use the port service. This study is performed to contribute to obtain the competitive power of domestic shipping and harbor industry by getting solution of mutual risk management which can make Win-Win strategy on each other as an alternative idea. We suggested two kinds of management models to promote common benefits between container terminals and shipping liners. It is necessary to push positive support and cooperation from government and belonging related organizations for activating the Gwangyang port. In this study, we presented the efficient method to manage mutual risks between container terminals and shipping liners.

• Journal of the Society of Disaster Information
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• v.11 no.1
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• pp.121-133
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• 2015

A classical commercial insurance, which is used widely as the risk management methods for risk transferring and risk financing, includes the factors of interests, gambling and uncertainty, In 1985 Islamic Fiqc Academy declared that the classical commercial insurance violates the Islamic fundamental principles and beliefs, alteratively recommending a mutual insurance and takaful. A basic principle of takaful is the mutual aid in the Islamic community. On the basis of mutual aid, takaful participants (insurance policyholder) establishes the takaful fund, which is cooperation fund by participant contribution. Takaful fund is separated from shareholders' fund, and the profit and loss of takaful fund are responsible for takaful policyholder. Ownership and operation right of takaful belong to the takaful participants. In takaful, takaful company takes a role of agent or management operator. Comparing to the classical insurance, takaful has the rights of profit dividend, voting of executives, access to accounting books etc. which are additional favors for business company or individuals as takaful participants. Business companies and individuals should consider to use takaful to transfer risk and to enjoy takaful's additional advantages.

• The Korean Journal of Financial Management
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• v.24 no.2
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• pp.147-181
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• 2007

Our article investigates the risk implication of ownership structure in life insurance companies. We set up a model to identify the priority structure of policyholder's and shareholder's cashflow claims, and to derive its implications. Current literature on this issue has focused on the agency paradigm or the risk-sharing efficiency. Fama and Jensen(1983a, 1983b) and Mayers and Smith(1981, 1986, 1988, 1990, 1994) argue that the survival of both the corporate and the mutual form of organization is due in part to the relative efficiencies in controlling agency problems. With regard to insurance business, agency problems arise because of the three functions inherent in the organizations:manager, risk-bearer(owner), and policyholder. Stock insurers are characterized by the potentially complete separation of all three functions while mutual insurers merger the policyholder with the ownership function. Doherty and Dionne(1993) and Doherty(1991) concentrate their analysis on differences in the efficiency of risk sharing between participating and non-participating policies. They argue that when the undiversifiable risk has higher portion in business risk, combining policy and equity claims into a single package is a more efficient risk-sharing contract than a simple prepaid risk-transfer. Among various methods for assembling the policy/equity package, Doherty and Dionne(1993) and Doherty(1991) suggest that policy/equity package offered by the mutual is the most efficient risk-sharing arrangement. There has been a controversy on the property of participating policies sold by life insurance corporations in Korea. Some scholars argue that participating policyholders of Korean life insurance companies have shared the cashflow risk with shareholders. They emphasize that insurance firms have used dividend reserves to supplement for equity deficits. Thus, they argue that the economic entities of Korean life insurance companies are mutual companies though their legal entities are corporations. Our article explicitly sets up each stakeholder's cashflow claim in stock and mutual insurers, and thus identify risk differences in shareholder and policyholder. Using our model, we could derive direct implications on the controversy. Our model shows that life insurance companies would sell participating policies since policyholders would have the incentive to share the risk inherent in their primary claims with equityholders. And there exists a fundamental difference in shareholder's risk and equityholder's.

• Korean Journal of Child Studies
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• v.38 no.2
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• pp.165-176
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• 2017

Objective: Delinquent peers are important predictors of adolescent delinquent behavior. Few studies have classified individuals into groups based on patterns of delinquent behavior among youth and their peers. This study identified latent groups based on adolescent-peer delinquency and examined psychosocial characteristics of each latent group. Methods: First, the study employed latent class analysis based on a nationally representative data of South Korean middle school students (N = 2,277). Both adolescent and peer delinquent behaviors comprised 13 items in the questionnaire that was self-reported by adolescents. Second, the study used multivariate regression models to analyze psychosocial symptoms of latent groups and conducted Wald tests to compare differences among latent groups. Results: Patterns of adolescent-peer delinquency were classified into six latent groups. "Mutual total delinquent group (1.2%)" showed high rates in most delinquent experiences. "Mutual status delinquent group (5.7%)" mainly experienced status delinquency, "Mutual violence delinquent group (5.3%)" showed high rates of violent delinquency. "Peer-only total high delinquent group (3.8%)" reported friends to have engaged in all types of delinquency and "Peer-only total medium delinquent group (11.8%)" reported peer involvement in multiple status and few violent delinquency. Finally, "low risk group (72.2%)" reported low rates of delinquency for themselves and their friends. Regression analysis showed that every "mutual" delinquent group presented significantly worse psychosocial problems than the "low risk group." Conclusion: Using person centered latent class analysis, this study classified six latent classes while considering both delinquent agents and various types of delinquency and investigated specific groups with greater risk of psychosocial problems.

• Journal of Korean Society for Quality Management
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• v.48 no.1
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• pp.107-123
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• 2020

Purpose: The purpose of this study is to identify the determinants affecting acceptability in the construction projects of renewable energy generation facilities. Methods: This study used a method of conducting a survey of participants in the Renewable Energy construction project and verifying the hypothesis statistically. Results: The results of this study are as follows; First, Communication, participation and benefit recognition have a positive effect on mutual trust. Second, Benefit perception' has a positive effect on mutuality collaboration. Third, mutual trust have a positive effect on mutual collaboration. Fourth, mutual trust and mutual cooperation had a positive effect on. Finally, risk perception has a moderating effect on the relationship between mutual trust and acceptability, and the relationship between mutual collaboration and acceptability. Conclusion: This study suggests strategic directions for the success of the construction project for renewable energy generation facilities by identifying the determinants of availability.

• Journal of Korean Academy of Nursing
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• v.41 no.2
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• pp.204-213
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• 2011

Purpose: This study was done to identify fundamental data on competency reinforcement programs to prevent adolescent risk behavior by developing and examining a competency model. Methods: In this study, competences on prevention of adolescent risk behavior were identified through competency modeling, and a competency model was developed and tested for validity. Results: Competences for prevention of adolescent risk behavior defined by the competency model included the following: self-control, positive mutual understanding between parents and adolescents, and positive connectedness with peer group. Validation of the competency model showed the model to be appropriate. Conclusion: The competency model for prevention of adolescent risk behavior through competency modeling is expected to be the foundation of an integral approach to enhance competency in adolescents and prevent adolescent risk behavior. This kind of approach can be a school-centered, cost-efficient strategy, which not only reduces adolescent risk behavior but also improves quality of adolescent resources.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
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• 2004.08a
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• pp.123-128
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• 2004

A lot of efforts have been made to improve maritime safety by means of enhancing safety legislation and verifying the compliance thereof. However, with the development of mutual insurance, it is contributing more and more to better maritime safety. The P＆I clubs to be discussed in the paper are now not only exercising controls and providing guidance in event of emergencies, but also keeping close and continuous monitoring over safety operations and conditions of those vessels entered, through their world-wide network and advanced communication, and by professional accident-handling teams. In view of this, it is necessary to discuss the roles of commercial shipping and the close linkage between it and onboard safety practices. The paper looks at first basic principles in maritime insurance, and then focuses on the rules and activities of P＆I clubs and their implications upon shipboard operations.

• Journal of the Korean Society for Aviation and Aeronautics
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• v.29 no.4
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• pp.142-152
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• 2021

The International Civil Aviation Organization (ICAO) and the World Customs Organization (WCO) emphasize securing supply chain security through mutual cooperation between aviation security and customs by establishing a standardized security system by regulations, procedures and practices of international air cargo. Accordingly, in accordance with the Aviation Security Act, the known consignors system aims to secure cargo security before loading air cargo into the aircraft, while the customs AEO system is a public-private cooperation program that focuses on simplification of customs clearance procedures. These systems basically have the same purpose of effectively identifying high-risk cargo through a risk-based approach in international air cargo transportation and preventing risks in advance, and the content that a common basic standard for cargo security must be established is also similar. Therefore, it is necessary to establish a cooperation system by simplifying problems such as cumbersome and redundant authentication procedures and on-site verification through coordination of security requirements for mutual recognition between the two systems. As a result, it is necessary to establish a process for coordinating security and customs' supply chain security program and maximize the effect of harmonizing supply chain security by strengthening the linkage between known consignors and AEO.

• Journal of KIISE:Software and Applications
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• v.36 no.9
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• pp.691-696
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• 2009

Introduction: There are two types of asthma according to aspirin hypersensitivity: aspirin intolerant asthma (AIA) and aspirin tolerant asthma (ATA). The genetic risk factors that are related with asthma have been investigated intensively and extensively. However the combinatory effects of single nucleotide polymorphisms (SNPs) have hardly been evaluated. In this paper we searched the best set of SNPs that are useful to diagnose the two types of asthma. Methods: We examined 246 asthmatic patients (94 having aspirin intolerant asthma and 152 having aspirin tolerant asthma) and analyzed 25 SNPs typed in them, which are suspected to be associated with asthma. Normalized mutual information values of combinations of typed SNPs are calculated, and those with high normalized mutual information values are selected. We use support vector machines to evaluate the prediction accuracy of the selected combinations. Results: The best combination model turns out four-locus and consists of ALOX5_p1_1708, B2ADR_q1_46, CCR3_p1_520, CysLTR1_p1_634. Its normalized mutual information value is 0.053 and the accuracy in predicting ATA disease risk among asthmatic patients is 71.14%.