• Title/Summary/Keyword: Risk ratio

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Association of Mutual Fund Risk Measures and Return Parameters: A Juxtapose of Ranking for Performance in Pakistan

  • KHURRAM, Muhammad Usman;HAMID, Kashif;JAVEED, Sohail Ahmad
    • 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.

The Relationship Between Serum Triglyceride/HDL Cholesterol, Total Cholesterol/HDL Cholesterol, LDL Cholesterol/HDL Cholesterol Ratios and Cardiovascular Disease Risk Factors in Korean Adults: Using the 2016 Korea National Health and Nutrition Examination Survey Data (한국 성인에서 혈청 중성지방/고밀도 콜레스테롤, 총 콜레스테롤/고밀도 콜레스테롤, 저밀도 콜레스테롤/고밀도 콜레스테롤 비와 심혈관 질환 위험요인들과의 관련성: 2016년도 국민건강영양조사 자료를 이용하여)

  • Yoo, Areum;Shin, Saeron
    • Journal of The Korean Society of Integrative Medicine
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    • v.7 no.3
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    • pp.127-139
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    • 2019
  • Purpose : The lipid profile is a major predictive index for cardiovascular disease, but there have only been a few studies conducted on the relationship between lipid ratio and cardiovascular disease risk factors in the Korean population. To address this research gap, we investigated the association between three lipid ratios and cardiovascular disease risk factors among Korean adults. Methods : This study used data from the seventh Korea National Health and Nutrition Examination Survey conducted in 2016. Lipid ratios included triglyceride (TG)/high density lipoprotein cholesterol (HDL), total cholesterol (TC)/HDL, and low density lipoprotein cholesterol (LDL)/HDL. Cardiovascular risk factors included in this research were: systolic blood pressure $(SBP){\geq}140$, diastolic blood pressure $(DBP){\geq}90$, fasting blood sugar $(FBS){\geq}126$, $HbA1c{\geq}6.5$, body mass index $(BMI){\geq}25$, waist circumference (WC) $men{\geq}90$, $women{\geq}85$, and metabolic syndrome (MetS). A complex samples logistic regression test was performed to analyze the association between lipid ratios and cardiovascular disease risk factors. Results : 1) TG/HDL ratio had statistically significant relationships with DBP, FBS, HbA1c, BMI, WC and MetS. 2) TC/HDL ratio was correlated to SBP, DBP, FBS, BMI, WC, and MetS. 3) LDL/HDL ratio had association with BMI, WC, and MetS. Conclusion : We identified significant association between lipid ratios and cardiovascular disease risk factors. The three lipid ratios were particularly strongly associated with BMI, WC, and MetS.

The Relationship between Metabolic Syndrome and Korean Cardiocerebrovascular Risk Assessment: for Male Researchers in a Workplace (대사증후군과 뇌심혈관질환 발병위험도 평가와의 연관성: 일개 사업장 남성 근로자를 대상으로)

  • Yoon, Jong-Wan;Yi, Kyung-Jin;Lee, Sang-Yun;Oh, Jang-Gyun
    • Journal of Preventive Medicine and Public Health
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    • v.40 no.5
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    • pp.397-403
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    • 2007
  • Objectives: The prevalence of metabolic syndrome has recently increased, Payments from the Korea Labor Welfare Corporation for compensation for mortality in workers caused by cardiovascular and cerebrovascular diseases have also increased in Korea in recent years. The association of metabolic syndrome and cardiocerebrovascular disease has been investigated by several researchers in recent studies, This study was conducted in an attempt to characterize the relationship between metabolic syndrome and Korean cardiocerebrovascular disease risk assessment, and to provide basic data to group health practices for the prevention of cardiocerebrovascular disease. Methods: Health examinations were previously conducted for 1526 male researchers at a private laboratory. The prevalence by age and the odds ratio of metabolic syndrome scores into the "cardiocerebrovascular risk group" (sum of low, intermediate, and high risk groups) of the Korean cardiocerebrovascular disease risk assessment were assessed, in an effort to elucidate the associations between metabolic syndrome and cardiocere brovascular disease risk assessment. Results: The prevalence of metabolic syndrome and inclusion in the cardiocerebrovascular risk group was 11,7% and 22.1% respectively. The severity of metabolic syndrome and cardiocerebrovascular risk assessment showed that individuals in their 40's and 50's were at higher risk than those in their 30's (p<0,001). The age-adjusted odds ratio of metabolic syndrome to cardiocere brovascular risk group inclusion was 5.6. Conclusions: An active prevention program for cardiocerebrovascular disease needs to begin in the 40's, as the prevalence of metabolic syndrome and the risk group of cardiocerebrovascular risk assessment peak in the 40's age group. The odds ratio between metabolic syndrome and the cardiocerebrovascular risk group was high, which indicates that metabolic syndrome scores should be utilized as guidelines during the consultation and behavioral modification program for the workplace prevention of cardiocerebrovascular diseases in group health practices.

How Have Indian Banks Adjusted Their Capital Ratios to Meet the Regulatory Requirements? An Empirical Analysis

  • NAVAS, Jalaludeen;DHANAVANTHAN, Periyasamy;LAZAR, Daniel
    • The Journal of Asian Finance, Economics and Business
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    • v.7 no.11
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    • pp.1113-1122
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    • 2020
  • The purpose of this study is to examine how the Indian banks have adjusted their risk-based capital ratios during 2009-2018 to meet the regulatory requirements. Banks can, in principle, increase their risk-based regulatory capital ratio, either by increasing their levels of regulatory capital or by shrinking their risk-weighted assets by adjusting asset growth or risk in the portfolio. We investigate banks' capital behavior by decomposing the change in the capital ratio into the contribution of its components and analyzing their variance across regulatory regimes and banks' ownerships. We further investigate how each component of the capital ratio is adjusted by the banks by breaking down them into balance sheet items. We find that the banks' capital behavior significantly differed between public and private sector banks and between the two regulatory regimes. During Basel II, banks, in general, followed a strategy of aggressive asset growth with increased risk-taking. The decline in the CRAR because of such an expansionary strategy was adjusted by augmenting additional capital. However, during Basel III, due to higher capital requirements, both in terms of quantity and quality, banks followed a strategy of cutting back their asset growth and reducing the risk in their portfolio to maintain their CRAR.

Seismic collapse risk of RC frames with irregular distributed masonry infills

  • Li, Yan-Wen;Yam, Michael C.H.;Cao, Ke
    • Structural Engineering and Mechanics
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    • v.76 no.3
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    • pp.421-433
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    • 2020
  • Masonry infills are normally considered as non-structural elements in design practice, therefore, the interaction between the bounding frame and the strength contribution of masonry infills is commonly ignored in the seismic analysis work of the RC frames. However, a number of typical RC frames with irregular distributed masonry infills have suffered from undesirable weak-story failure in major earthquakes, which indicates that ignoring the influence of masonry infills may cause great seismic collapse risk of RC frames. This paper presented the investigation on the risk of seismic collapse of RC frames with irregularly distributed masonry infills through a large number of nonlinear time history analyses (NTHAs). Based on the results of NTHAs, seismic fragility curves were developed for RC frames with various distribution patterns of masonry infills. It was found that the existence of masonry infills generally reduces the collapse risk of the RC frames under both frequent happened and very strong earthquakes, however, the severe irregular distribution of masonry infills, such as open ground story scenario, results in great risk of forming a weak story failure. The strong-column weak-beam (SCWB) ratio has been widely adopted in major seismic design codes to control the potential of weak story failures, where a SCWB ratio value about 1.2 is generally accepted as the lower limit. In this study, the effect of SCWB ratio on inter-story drift distribution was also parametrically investigated. It showed that improving the SCWB ratio of the RC frames with irregularly distributed masonry infills can reduce inter-story drift concentration index under earthquakes, therefore, prevent weak story failures. To achieve the same drift concentration index limit of the bare RC frame with SCWB ratio of about 1.2, which is specified in ACI318-14, the SCWB ratio of masonry-infilled RC frames should be no less than 1.5. For the open ground story scenario, this value can be as high as 1.8.

Liquidity Determinants of Private Hospitals in Korea (민간병원의 유동성 관련요인 분석)

  • Choi, Man-Kyu;Lee, Yun-Seok;Lee, Yoon-Hyeon
    • Health Policy and Management
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    • v.12 no.4
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    • pp.1-17
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    • 2002
  • This study was attempted to identify the liquidity trends and determinants of private hospitals in Korea different. Data used in this study were collected from 98 hospitals with complete general data of present conditions as well as financial statements(balance sheets, income statements). They were chosen from hospitals that passed the standardization audit undertaken by the Korean Hospital Association from 1996 to 2000 for the purpose of accrediting training hospitals. The dependent variables in this study were used current ration and quick ratio as a proxy indicator for liquidity. The independent variables were ownership type, hospital type, location, bed size, period of establishment, short-term liabilities to total assets, long-term liabilities to total assets, borrowings to total assets, fixed asset ration, net profit to total assets, operating margin to gross revenue, growth rate of net worth to total assets, total asset turnover, and business risk(volatility of profit). The major findings of this study were as follows. Trends of liquidity(current ratio, quick ratio) had been continuously decreased. Especially, There were very distinct decreasing trends of personal hospitals and less than 300beds, which weakened liquidity. The factors had significant effect on current ratio were short-term debt to total assets(-), fixed asset ratio(-), business risk(+). High short-term debt to total assets, high fixed asset ratio and high business risk significantly decreased in liquidity. The factors that significantly affected on quick ratio were short-term debt to total assets(-), borrowings to total assets(+), fixed asset ratio(-), business risk(+).

A Risk Management Framework for New Product Development: A Case Study

  • Kasemset, Chompoonoot;Wannagoat, Jaruwan;Wattanutchariya, Wassanai;Tippayawong, Korrakot Y.
    • Industrial Engineering and Management Systems
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    • v.13 no.2
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    • pp.203-209
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    • 2014
  • This research designed and implemented a supply chain risk management platform and applied it to a case study of reduced-fat Lanna pork sausage as a new product development project. The proposed framework has three stages: risk identification, risk assessment, and risk mitigation. Seventeen risk agents with 17 risk events were identified based on SWOT analysis and the Porter Five Forces concept through the process of planning, sourcing, making and delivering, partially captured from the supply chain operations reference model in the first stage. In the second stage, an house of risk (HOR) framework was applied to present the impacts of each risk agent. In the third stage, eight risk agents with high impact were selected to design 21 preventive actions. Finally, three preventive actions with the highest effectiveness to difficulty ratio scores-'sales evaluation of familiar products', 'increasing distribution channels and promotions to improve sales', and 'work flow improvement for work safety'-were then recommended for this new product development.

Dietary Risk Factors Associated with Hypertension in Patients (고혈압 환자의 식이관련 위험요인 분석에 관한 연구)

  • Son, Sook-Mee;Huh, Gwui-Yeop
    • Korean Journal of Community Nutrition
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    • v.11 no.5
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    • pp.661-672
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    • 2006
  • This study was performed to determine the dietary risk factors associated with hypertension. The hypertensive group were composed of 112 hypertensive patients (male 53, female 59) who first visited the hypertension clinic and had been diagnosed as having primary hypertension ($SBP{\ge}140mmHg\;or\;DBP{\ge}90mmHg$). The regular visitors or the subjects on special diets or medical therapies were excluded. The normal group consisted of as subjects (male 41, female 54) matched with age and socioeconomic levels. The subjects having higher intakes (above the 75 percentile) in energy, protein, iron, vitamin A or C showed significantly higher hypertension risk estimated with odds ratio after the covariance factors (age, sex and BMI) were adjusted. More than 2400 mg of sodium (6 g of salt) intake was associated with significantly higher risk of hypertension (odds ratio: 1.773, CI: 1.014-3.014 for $SBP{\ge}140mmHg$; odds ratio: 2.373, CI: 1.359-4.215 for $DBP{\ge}90mmHg$). Hypertensive group showed significantly increased intakes of vegetables and fish and shell fish compared to the normal group. When the vegetable intakes were classified into Kimchi, fresh vegetables and cooked vegetables with seasoning, the hypertensive group was observed as having higher intakes of Kimchi and cooked vegetables with seasoning. The intakes of highest quartile for vegetables (${\ge}327g/day$) (odds ratio: 3.164, CI: 1.740-5.752), fish and their products (${\ge}102g/day$) (odds ratio: 2.756, CI: 1.486-5.109), grains(${\ge}311g/day$) (odds ratio 2.393, CI: 1.186-4.832), meats and their product (${\ge}106g$) (odds ratio: 2.210, CI: 1.225 - 3.987) compared to the lower were significantly associated with the higher risk of hypertension estimated with DBP (${\ge}90mmHg$) after covariance factors were adjusted. In conclusion, our findings confirm that higher intake of energy or sodium are associated with the increased risk of hypertension. Because increased intake of vegetable or fish was associated with the higher risk of hypertension, in contrast with the finding of western countries, choosing or preparation of vegetables or fish with reduced salt is recommended.

Risk Factors Associated with HPV Infection in the Female Employees and Employees' Partner (여성 직장인 및 직장인 배우자의 인유두종 바이러스 감염 위험인자)

  • Jang, Tae-Won;Yoon, Ki-Jung
    • Korean Journal of Health Education and Promotion
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    • v.27 no.1
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    • pp.1-8
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    • 2010
  • Objectives: Human papillomavirus (HPV) infection is highly associated with cervical cancer. So, the modification of the risk factors of HPV infection is essential for prevention of cervical cancer. This study was performed to evaluate the risk factors of HPV infection. Methods: HPV test of 12,337 study population conducted using Hybrid-Capture II assay(HC-II) and self-administered questionnaires were collected. The study population was people who visited hospital-based medical screening center from January to December 2007 and all were female employees or employees' partner. Results: In logistic regression analysis, smoking and alcohol drinking were significant factors, with odds ratios of 1.328 (95% CI 1.010~1.746) and 1.644 (95% CI 1.309~2.066), respectively. Nutritional supplements was also significant factor, which odds ratio was 1.161 (95% CI 1.004~1.343). Oral contraceptives was positive association with HPV infection (odds ratio 2.108; 95% CI 1.217~3.652), whereas condom was negative association (odds ratio 0.851; 95% CI 0.740~0.979). Conclusion: HPV Prevalence of 12,377 study population was 11.4%. Smoking, alcohol drinking, nutritional supplements and oral contraceptives were possible risk factors of HPV infection, and condom had possible preventive effect on HPV infection. Further prospective and comprehensive studies about HPV risk factors are required.