• 지식경영연구
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• 제21권4호
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• pp.265-285
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• 2020

인바운드(Inbound) 관광시장은 오늘날 관광산업의 핵심 분야로 인식되고 있으나 각국의 다양한 경제, 사회, 문화적 변수 등에 의해 변동성이 크게 나타난다. 변동성의 원인은 인바운드 국가에 따라 다양하게 나타나며 변동성을 최소화하여 안정화된 관광산업의 활성화를 도모하고자 한다. 본 연구에서는 포트폴리오 이론을 적용하여 최소화된 위험수준에서 최대의 증가율을 거둘 수 있는 최적의 국가별 조합을 도출하였으며 주요 방한 인바운드 국가를 대상으로 입국객 수와 인당 평균 소비지출액을 적용하여 양적지표와 질적지표를 모두 고려하였다. 분석결과 입국객 수 기준으로 최적의 국가별 조합은 영국, 미국, 독일, 중국, 일본 순으로 구성되었으며, 인당 평균지출액 기준으로 최적의 국가별 조합은 태국, 중동, 싱가폴, 일본, 러시아, 홍콩, 독일 순으로 구성되었다. 이러한 결과는 한국 인바운드 관광시장을 전략적으로 운영할 수 있는 방안을 수립하는데 기여할 수 있을 것으로 기대한다.

• 경영과학
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• 제31권1호
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• pp.49-61
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• 2014

We investigate the hedging effectiveness of incorporating single-stock futures into the corresponding stocks. Investing in only stocks frequently causes too much risk when market volatility suddenly rises. We found that single-stock futures help reduce the variance and risk levels of the corresponding stocks invested. We use daily prices of Korean stocks and their corresponding futures for the time period from December 2009 to August 2013 to test the hedging effect. We also use system trading technique that uses automatic trading program which also has several simulation functions. Moving average strategy, Stochastic's strategy, Larry William's %R strategy have been considered for hedging strategy of the futures. Hedging effectiveness of each strategy was analyzed by percent reduction in the variance between the hedged and the unhedged variance. The results clearly showed that examined hedging strategies reduce price volatility risk compared to unhedged portfolio.

• Asia Marketing Journal
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• 제16권3호
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• pp.101-118
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• 2014

Parkland, which is one of the pioneer brands in men's fashion in Korea, specifically suits, has recently undertaken bold brand repositioning activities to respond to the fast-changing environment and to overcome limitations in its current image positioning. As a result, in a short time period, Parkland achieved remarkable marketing and communication success. This case study explains how Parkland drew successful brand repositioning from the fierce fashion market. This study systematically analyzes the brand repositioning strategy process and implementation strategy used to resolve the conceptual and structural issues of Parkland as a mature brand. To this end, this study assesses Parkland's brand strategy focusing on brand environment and positioning. Accordingly, the study analyzes the target concept and basic direction of the brand repositioning in terms of the repositioning strategy process, and from an integrated marketing perspective, examines the specific implementation program for repositioning. Finally, the study addresses the outcomes of brand repositioning efforts as well as steps to be taken in the future.

• 아태비즈니스연구
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• 제13권4호
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• pp.163-175
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• 2022

Purpose - This study introduces a methodology for finding the optimal tracking error of active stock funds. Tracking error is commonly used in risk budgeting techniques as a concept of cost for alpha creation. Design/methodology/approach - This study uses a post-optimal smart beta portfolio that maximizes alpha under the given tracking error constraint. Findings - As a result of the analysis, the smart beta strategy that maximized alpha under the constraint of 0.15% daily tracking error shows the highest IR. This means the maximum theoretically achievable efficiency. In this regard, a fixed-effect panel regression analysis is conducted to evaluate the active efficiency of domestic stock funds. In addition to control variables based on previous studies, the effect of tracking error on alpha is analyzed. The alpha used in this model is calculated using the smart beta portfolio according to the size of the constraint of the tracking error as a benchmark. Contrary to theoretical estimates, in Korea, the alpha performance is maximized under a daily tracking error of 0.1%. This indicates that the active efficiency of domestic equity funds is lower than the theoretical maximum. Research implications or Originality - Based on this study, it is expected that it can be used for active risk management of pension funds and performance evaluation of active strategies.

• 한국산업정보학회논문지
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• 제24권1호
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• pp.23-30
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• 2019

딥러닝 네트워크 기반의 알고리즘의 발전으로 인공지능은 전세계적으로 빠른 성장세를 보이고 있다. 그 중 금융은 인공지능이 가장 많이 활용될 분야로 예상되고 있으며 최근 많은 연구가 되고 있다. 기존의 딥러닝을 사용한 재무 전략은 단일 종목에 대한 주가 예측에만 치중되어 있어 변동성에 취약하다. 따라서 본 연구는 딥러닝을 이용하여 펀드 구성 종목을 산출하고 종목들을 분산투자하여 ETF 상품을 구성하는 모델을 제안한다. 실험 결과로 제안하는 모델을 통해 코스피 100 지수를 대상으로 하는 성능을 분석하며 수익률 또는 안정성 측면에서 향상된 결과를 확인하였다.

• The Journal of Asian Finance, Economics and Business
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• 제9권3호
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• pp.203-215
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• 2022

Bayesian Networks are multivariate probabilistic factor graphs that are used to assess underlying factor relationships. From January 2005 to December 2018, the study examines how Dynamic Bayesian Networks can be utilized to estimate portfolio risk and return as well as determine inter-factor relationships among reversal profit-generating components in Pakistan's emerging market (PSX). The goal of this article is to uncover the factors that cause reversal profits in the Pakistani stock market. In visual form, Bayesian networks can generate causal and inferential probabilistic relationships. Investors might update their stock return values in the network simultaneously with fresh market information, resulting in a dynamic shift in portfolio risk distribution across the networks. The findings show that investments in low net profit margin, low investment, and high volatility-based designed portfolios yield the biggest dynamical reversal profits. The main triggering aspects related to generation reversal profits in the Pakistan market, in the long run, are net profit margin, market risk premium, investment, size, and volatility factor. Investors should invest in and build portfolios with small companies that have a low price-to-earnings ratio, small earnings per share, and minimal volatility, according to the most likely explanation.

• Asia Marketing Journal
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• 제20권2호
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• pp.85-98
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• 2018

Korea Ginseng Corporation is a global ginseng company, owning one of the most leading brands in Korea, CheongKwanJang. Although Korea Ginseng Corporation was an undoubted market leader in the red ginseng market, it faced a new challenge in 2012 due to the changes in market environment. In order to keep its market leadership in a saturated and competitive market, the company decided to extend its product lines alongside the launches of new brands. In this article, the authors demonstrate the development process of the company's brand portfolio strategy to reveal how the company turned CheongKwanJang into a mega-brand. Also, this paper explores the impact of CheongKwanJang's reputation on new brands, thereby illustrating how the company successfully managed to introduce new products outside of the red ginseng category, ranging from organic food to a pet food market.

• 자원ㆍ환경경제연구
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• 제23권4호
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• pp.583-615
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• 2014

우리나라는 2011년 발생한 순환정전사태를 비롯하여 지난 5년간 급격한 전력소비 증가, 수요 예측 실패에 따른 전력 수급난을 겪고 있다. 또한 일본의 후쿠시마 원전사태와 국제 연료가격 상승, 기술 발전 및 적용 가능한 발전원 증가로 인해 발전 환경의 불확실성이 큰 폭으로 증가하였다. 이러한 대내외적 환경 변화로 인해 안정적 전력공급에 대한 정책적 검토가 필요하게 되었고 신규전원구성에 대한 다양한 논의가 이루어지게 되었다. 실제로 "민관 합동 워킹그룹" 에서는 에너지 기본계획 및 원전 비중 변화, 전원구성에 대한 시나리오 검토를 수행한 바 있다. 이러한 국내외 여건에 따라 본 연구에서는 제6차 전력수급기본계획과 정책 제안 그리고 우리나라의 전력 설비를 고려하여 포트폴리오 이론을 적용, 신규 전원구성 연구를 수행하였다. 본 연구의 전원 구성 결과에 따르면 향후 신재생 발전원의 비용하락과 화석 연료 발전원의 비용이 증가할 경우 신재생 발전원의 비중이 큰 폭으로 증가하며 발전믹스 내 발전원의 다양성이 증가 할 것이라는 결과가 도출되었다. 특히 위험수준(표준편차) 0.06~0.09 사이에서 가장 다양한 발전원을 보유한 효율적 전원구성이 나타남을 확인하였다. 이 밖에 기존 계획안은 효율적 곡선상에 위치하지 않기 때문에 비용-위험 기준에서 보다 개선될 수 있음을 확인하였으며 기존 방법론과 상호 보완적으로 본 연구의 방법론이 활용될 수 있음을 확인하였다. 마지막으로 본 연구 결과를 바탕으로 안정적이고 효율적인 전원믹스 운영을 위해서는 신재생 발전원의 확충과 더불어 전력저장시스템, 에너지관리시스템과 같은 전력 기술 개발 및 인프라 구축이 수반되어야 함을 확인하였다.

• Journal of the Korean Data and Information Science Society
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• 제17권2호
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• pp.355-366
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• 2006

Customer Satisfaction (CS) in Auto insurance market is the important factor which makes customer loyalty and retention increase. Recently On-line companies are threatening the existing Off-line companies with taking advantage of the low price through cut-offing the price by internet marketing. Therefore, the CS is becoming an indispensable survival strategy to the Off-line companies. Under these circumstances, this study finds out what the CS factors are in the auto insurance market, and produces levels of CS, customer loyalty and satisfaction Index of each category. The purpose of this study is to suggest the strategic improvement factor for elevating CS level and strategic direction for CS management by CS portfolio analysis based on the survey result.

• Journal of the Korean Data and Information Science Society
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• 제18권1호
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• pp.123-139
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• 2007

Recently, Super-Super-Market(SSM) is facing more and more difficult situation due to the expansion of hypermarket and target marketing of specialized shop. In this situation, Customer Satisfaction Management(CSM) is emerging as a core business factor to make continuous growth without competitive exclusion. Especially, the first factor in CSM in distribution industry is a Service Quality Satisfaction. In this paper, with a selection of 3-markets as a sample for the research, I have tried to look for necessary Service Quality(SQ) factors in SSM and deduced Service Quality Index(SQI), loyalty and Index of detail factor in SQ through survey. Based on these results, strategic factors required to improve SQ was found and strategic directions for SQ were proposed through matrix portfolio analysis.