• 제목/요약/키워드: Risk-Taking Decision

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Multiperiod Mean Absolute Deviation Uncertain Portfolio Selection

  • Zhang, Peng
    • Industrial Engineering and Management Systems
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    • 제15권1호
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    • pp.63-76
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    • 2016
  • Multiperiod portfolio selection problem attracts more and more attentions because it is in accordance with the practical investment decision-making problem. However, the existing literature on this field is almost undertaken by regarding security returns as random variables in the framework of probability theory. Different from these works, we assume that security returns are uncertain variables which may be given by the experts, and take absolute deviation as a risk measure in the framework of uncertainty theory. In this paper, a new multiperiod mean absolute deviation uncertain portfolio selection models is presented by taking transaction costs, borrowing constraints and threshold constraints into account, which an optimal investment policy can be generated to help investors not only achieve an optimal return, but also have a good risk control. Threshold constraints limit the amount of capital to be invested in each stock and prevent very small investments in any stock. Based on uncertain theories, the model is converted to a dynamic optimization problem. Because of the transaction costs, the model is a dynamic optimization problem with path dependence. To solve the new model in general cases, the forward dynamic programming method is presented. In addition, a numerical example is also presented to illustrate the modeling idea and the effectiveness of the designed algorithm.

The Relationship Between CEO Characteristics and Leverage: The Role of Independent Commissioners

  • NILMAWATI, Nilmawati;UNTORO, Wisnu;HADINUGROHO, Bambang;ATMAJI, Atmaji
    • The Journal of Asian Finance, Economics and Business
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    • 제8권4호
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    • pp.787-796
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    • 2021
  • This study investigates the effect of chief executive officers (CEO) demographic characteristics such as age, functional experience, education, and gender, on corporate leverage decisions. This study investigates the independent commissioner's role in moderating the relationship between CEO demographic characteristics and leverage decisions. The data used is panel data with a sample of 283 non-financial companies listed on the Indonesia Stock Exchange (BEI) from 2010-2017. Moderated regression analysis is used as an analytical technique, with the selected model fixed effects model. The results showed that male and young CEOs were more risk-averse, so they tended to use debt more. However, this study found no evidence of the effect of CEO experience and education on leverage. This study finds evidence that independent commissioners reduce the influence of CEO age and gender on leverage decisions. It shows the role of independent commissioners in controlling risk-taking from male and young CEOs related to leverage decisions. These results become input for companies to consider demographic characteristics in choosing a CEO. Also, companies need a board (in this study seen from independent commissioners) that is strong enough to control the CEO regarding risky decision making, such as leverage decisions.

Tacit Knowledge in Government-led R&D Project Selection

  • Kim, Eun-Hong
    • 기술혁신연구
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    • 제13권2호
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    • pp.223-237
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    • 2005
  • This paper explains that tacit knowledge is a critical component for the success of government-led R&D project selection, where rapid and accurate decision making need to be made under lack of information circumstances. It also explores ways to fully exploit the tacit knowledge of experts participating in the Korean government's R&D project selection process. Some of these include: (1) strategic attention from the top officials, (2) forming self-organizing teams, (3) establishing a horizontal and risk-taking culture, (4) encouraging a sense of responsibility in creating and sharing tacit knowledge, and (5) providing a seamless monitoring system and training.

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수돗물 공급 안정화를 위한 광역상수도 관로 안정화 타당성 연구 (Feasibility Study of Multi-regional Transmission Main Stabilization for Sustainable Water Supply)

  • 이재범;이충성;정관수
    • 상하수도학회지
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    • 제27권3호
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    • pp.395-404
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    • 2013
  • The risk of pipe-bursting in multi-regional transmission mains consisting of 89 % of singled pipeline is so high that pipeline stabilization project is required such as renewal and replacement, pipe paralleling, emergency ties. Pipeline stabilization projects could be postponed at the step of initial decision-making because effect of this project is intangible benefit like activation of economic, improvement of welfare related to water. This study is to suggest quantified economical feasibility model for intangible benefit presumption to solve above problem. Cost reduction of emergency water supply, leakage, burst restore and energy efficiency improvement was altered and applied. As a result of economic analysis taking into account estimated benefit and cost under discount rate 5.5 %, service life 40 years, sufficient economic feasibility analyzed with B/C 2.45, NPV 317,700 million won, IRR 9.09 %.

AIDS의 학교 보건교육 도입에 관한 연구 (A Study for the Development of a School-based Health Education of AIDS)

  • 김현숙
    • 한국학교보건학회지
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    • 제9권2호
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    • pp.249-266
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    • 1996
  • AIDS and the spectrum of Human Immunodeficiency Virus(HIV) infections present a monumental challenge to the health of the Korean public. In response to this special challenge, I think public education and voluntary behavior changes are the most effective measures to fight the spread of the disease. Adolescents represent a critical risk group for prevention and intervention programming. Research indicates sexually active adolescents, homosexual contact, illicit drug use are an gradually increasing. These characteristically adolescent risk-taking behaviors suggest the need for schools and communities to mobilize intervention strategies. Schools are highly efficient ways to reach a majority of young people in Korea with HIV prevention programs. These programs include substantial attention to sexual and drug use behaviors with the long term objective of a multidimensional school health program. Information resulting from risk behavior surveillance activities and guidance on school health curricula is particularly useful. What is needed for adolescents is a revamping of education to give students the critical thinking and analytic skills that allow them to apply knowledge, make decisions, and think independently. The best HIV preventive education provides young people with opportunities to learn and practice just those skills. In the early stages of HIV education were focused solely on information. Providing information is easy but unfortunately, behavior change is not that simple to activate. Information must be combined with values exploration and skilly building, including responsible decision making, negotiation, refusal, and critical thinking skills. The same knowledge, attitudes and skills needed for effective HIV prevention also prevent or reduce other risks, including other sexually transmitted diseases, unwanted pregnancies, and alcohol or other drug use. The role of other youth serving organizations in HIV prevention is also important: parental and youth involvement is needed; it's important to presidential and governament leadership is essential to prevention education; promote integrated adolescent programs, to enhance health and education sector collaboration; and of course, we need to expand research on adolescent health and engage the media in health promotion. Among these changes, a school-based systematic health education of AIDS is certainly one of the essentials.

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시뮬레이션 기반 실습 교육이 간호대학생의 눈치, 문제해결 능력, 회복 탄력성에 미치는 효과 (The Effects of Simulation-based Hands-on Training on Nursing Students' Nunchi, Problem-Solving Ability, and Resilience)

  • 신승호;이정원;김창태;신소홍;송미숙
    • 문화기술의 융합
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    • 제6권2호
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    • pp.397-407
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    • 2020
  • 본 연구는 간호대학생의 핵심역량인 시뮬레이션 기반 실습 교육이 눈치, 문제해결 능력, 회복 탄력성에 미치는 효과를 알아보기 위해 시도되었다. 연구 결과 눈치의 하위변인 눈치 파악이 유의미하게 증가하였고, 문제해결 능력과 하위변인 문제 인식, 정보수집, 분석능력, 확산적 사고, 의사결정, 기획력, 실행과 모험 감수, 평가, 피드백에 유의미하게 증가하였다. 회복 탄력성과 하위변인 통제성, 긍정성, 사회성이 유의미하게 증가하였다. 이러한 결과는 시뮬레이션 기반 실습 교육이 간호 대학생의 핵심역량을 강화할 수 있다는 것이므로 현장감 있는 실습 모듈 개발을 위한 기반이 마련되어야 할 것이다.

ERP시스템 도입 단계별 핵심성공요인에 관한 연구 (A Study on the Critical Success Factors for Each Phase of the Introduction of ERP Systems)

  • 유춘번;양효석
    • 산업경영시스템학회지
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    • 제25권3호
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    • pp.64-77
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    • 2002
  • In every sectors of industry, the Business Process Reengineering(BPR) has been applied for taking competitive advantage under rapidly changing environment. A company adopting the BPR has begun to consider the introduction of Enterprise Resource Planning ERP systems. ERP systems can integrates many core activities of business, such as manufacturing management, human resource management, financial management, supply chain management by applying the best practices to facilitate a rapid decision-making, cost reductions, and organizational control. Unfortunately, however, many tentative risk factors are existed through each phase of the introduction of ERP systems. As a result, it can bring an enormous benefits to a company or it can be a disastrous for organization. Therefore, two critical questions regarding the introduction of ERP systems should be analyzed before actual introduction has happened. They are "how can ERP systems be introduced successfully\ulcorner" and "what are the critical success factors for each phase of introduction of ERP systems\ulcorner". Through this research, We studied and analyzed the characteristics of critical success factors requiring at each phase of the introduction of ERP systems by applying the questionnaire survey method. Finally, we suggest the list of barriers and critical success factors for each phase of introduction of ERP systems.tion of ERP systems.

The Impacts of Organizational Culture on Organizational Commitment: Evidence from Vietnamese Garment Companies

  • PHAM, Ngoc Thi Kim
    • The Journal of Asian Finance, Economics and Business
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    • 제9권9호
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    • pp.339-350
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    • 2022
  • The purpose of the study is to determine how organizational culture affects employees' organizational commitment in Vietnamese clothing enterprises. Quantitative research through a questionnaire survey was applied in this research. A Survey of employees of Vietnamese garment companies in Hanoi was conducted from May 2021 to August 2021. The questionnaire was built from reference to previous studies and transferred to Google form. 315 returned questionnaires were usable. The statistical software SPSS 20.0 was used to test the reliability of the scale (Cronbach alpha), exploratory factor analysis (EFA), and regression analysis. The Organizational culture is constructed by 8 components including Organizational Communication, Training and development, Reward and Recognition, Teamwork orientation, Decision-making, Innovation and risk-taking, Direction and future planning, and Leader behavior. Organizational commitment is constructed by 3 components such as affective commitment, continuance commitment and normative commitment. Findings show that organizational culture has a strong impact on organizational commitment in Vietnamese garment companies. Research provides recommendations on developing a good organizational culture through forming suitable leadership, effective organizational communication, training and development, reward and recognition, and a clear direction and future planning to enhance employee commitment to the organization and increase the garment company's performance in the future.

An Agent-Based Framework for Investigating Safety-Productivity Tradeoff of Construction Laborers Considering Risk-taking Behavioral Heterogeneity

  • Khodabandelu, Ali;Park, JeeWoong;Kheyrandish, Seyedmohsen
    • 국제학술발표논문집
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    • The 9th International Conference on Construction Engineering and Project Management
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    • pp.1114-1121
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    • 2022
  • Construction laborers and crews play a critical role in achieving a safe and productive construction site. Many past research studies used top-down approaches/perspectives for studying the impact of laborers' performance on overall construction site outputs with limited flexibility in accounting for laborers' various characteristics. However, the recent reap in computational advances allowed applications of bottom-up architectures, which can potentially incorporate heterogeneous characteristics of laborers' individual behavioral and decision-making features effectively. Accordingly, agent-based modeling (ABM), as a tool to leverage a bottom-up methodological approach, has been widely adopted by recent research. Existing literature investigated the influence of changes in laborers' behaviors and interactions on either construction sites' safety performance or productivity performance individually, leaving the tradeoff between safety and productivity in this context relatively unexplored. Accordingly, this study aims to develop an agent-based framework to study the tradeoff between project safety and productivity performances resulting from changes in laborers' behaviors after attending safety trainings. Our findings via simulations indicate that proper safety trainings can improve safety performance without negatively impacting productivity performance.

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메타데이터를 활용한 개인정보 처리에 대한 의사결정 모델 (A Decision-Making Model for Handling Personal Information Using Metadata)

  • 김양호;조인현;이경호
    • 정보보호학회논문지
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    • 제26권1호
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    • pp.259-273
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    • 2016
  • 2014년 카드 3사 개인정보유출 사고를 계기로 외부 불법 침입으로 인한 보안사고 보다 내부직원의 고의나 실수 등 관리 소홀에 의한 개인정보 불법유출 사고가 더 심각하다는 것을 깨닫고 금융회사는 개인정보유출 재발방지 대책을 마련하여 추진하고 있다. 그러나 국내 금융환경을 반영한 정보기술(IT)시스템 구조가 매우 복잡하고 어려운 구조로 되어 있어 관리적, 물리적, 기술적 통제절차의 범위를 벗어난 내부자 위협에 노출과 유출사고 발생 개연성은 높다. 본 연구에서는 메타데이터에 기초하여 개인식별속성데이터를 정의 및 관리하고, 테이블간 결합을 통해 포괄적인 개인정보 식별 및 접근을 통제하는 프로세스를 제시한다. 이 프로세스는 금융감독기관의 컴플라이언스 위반 가능성 감소 및 내부통제 강화라는 목표를 충족시킨다. 마지막으로 본 연구에서는 제안한 프로세스를 반영한 의사결정 모델을 도출하고 실증하였다.