• Asia-Pacific Journal of Business
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• v.14 no.4
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• pp.151-161
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• 2023

Purpose - In this study, we examine the factors related to the asset allocation decisions of individual investors who 1) directly invest in stocks or bonds, 2) indirectly invest in various fund products (excluding CMA and MMF), and 3) invest in both products. Design/methodology/approach - We collect a sample of 3,000 individual investors and investigate the factors influencing investment behavior, especially the diversification tendency in asset allocation, with the "Investor Behavior Survey" that is conducted jointly by the Korea Financial Investment Association and the Korea Gallup Research Institute in 2011 and 2012. Findings - Our regression analyses estimate the marginal effects of various factors such as the amount of total financial assets, monthly income, occupation, age, and gender. The results reveal that male investors with manual labor occupations were less inclined to diversify their investments compared to female investors in office jobs. Additionally, higher monthly income is associated with a greater inclination toward diversification. Therefore, if a positive relationship exists between income and educational level, we may suggest that higher educational levels lead to a greater tendency for diversification. Research implications or Originality - Interestingly, investors who engage in direct investments tend to exhibit a weaker diversification tendency as the amount of their direct investment increases. On the other hand, investors who engage in both direct and indirect investments show a weaker diversification tendency as the amount of total financial assets increases. This suggests that the investment style of investors is closely related to their diversification behavior.

• Korea Journal of Hospital Management
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• v.9 no.1
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• pp.22-45
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• 2004

This study was performed to identify factors affecting the profitability of private hospitals in Korea different and to make informations that could be very helpful to hospitals in improving profitability. Data used in this study were collected from 112 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 1998 to 2001 for the purpose of accrediting training hospitals. The dependent variables were used operating margin to total assets and operating margin to gross revenues as proxy indicators for profitability. The independent variables were ownership type, location, bed size, period of establishment, debt to total assets, current ratio, fixed ratio, total asset turnover, average length of stay, bed occupancy rate, admission ratio of outpatients, personnel costs per adjusted inpatient, and fiscal years. The factors had significantly positive effect on operating margin to total assets and operating margin to gross revenues were bed size, total asset turnover. And the factors had significantly negative effect on operating margin to total assets and operating margin to gross revenues were period of establishment, debt to total assets, average length of stay, personnel costs per adjusted inpatient. The adjusted $R^2$ of multiple regression equation was 25.2%, 21.4% respectively. It is very important for private hospitals to improve profitability by raising total asset turnover, and reducing debt to total assets, average length of stay, and personnel costs per adjusted inpatient using the rational and efficient business strategy.

• Proceedings of the KSR Conference
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• 2011.10a
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• pp.2473-2478
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• 2011

The asset management of railway facilities is a total framework for finally supporting a safe and comfortable train service, which includes functions of supporting evaluation of condition and performance of infrastructures, making the decision method of repair or rehabilitation of deteriorated facilities, and lengthening the life cycle of structure through the decision of adequate cost and time of repair or reinforcement. In the range of the asset management, organization, human, the target, and information & data of company are included. Therefore, in this paper, appling the method of asset management analysis to the railway structures, the process of the risk assesment using BRE(Business Risk Exposure) and the basis of consisting optimized renewal decision-making are expressed.

• Journal of the Korean Home Economics Association
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• v.36 no.7
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• pp.57-67
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• 1998

This study was to compare the financial status between elderly households - retired vs employed. The sample obtained from 1994 KHPS, and consisted of 628 Korean aged households who are currently married. Statistics employed to analyze the data are mean, frequency, percentile, t-test, and relative-ratio. The results of this study were as follows ; In income sources, earned income was majority of employed households, but the percent of unearned income was greater than retired households. While the percent of cloth, education, recreation expenditures were high in employed, and medical, housing expenditures wee high percentage in retired. The percentage of real asset(housing) was majority of total asset in two groups. And the percentage of safe liquid asset of retired households was relatively higher than employed households.

• The Transactions of The Korean Institute of Electrical Engineers
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• v.60 no.11
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• pp.1993-1999
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• 2011

Today, the power utilities is setting on the slow load growth and the aging of power equipment, and then could spend the efforts on the stability of system performance. Asset management may be defined as the process of maximizing corporate profit by maximizing performance and minimizing cost over the entire life cycle of power equipment. Therefore, asset management is great way to fulfill the economic investment and the stability of system performance. This paper presents the application of effective asset managem ent from an economic perspective. A proposed method is considering the life cycle analysis using life cycle cost methodology for hydro-generator during the total life cycle. The life cycle cost methodology include a way to calculating maintenance and operating costs. The proposed method will be expected to play an important role in investment decision making considering economic evaluation.

• Journal of the Korean Home Economics Association
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• v.36 no.10
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• pp.179-196
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• 1998

The purpose of this study was to analyze the financial status of Korean elderly households to make a financial plan for retirement preparation. The sample obtained from 1997 KHPS, consisted of 326 households of 55-64 aged and 210 households of 65 and over aged. Statistics employed for the analysis were frequencies, percentile, univariate analysis and logistic analysis. And Lorenz curve and Gini coefficient were used to compare the financial status. The results could be summarized as follows. First, total income, total expenditure, total debt and net worth of 55-64 aged group were higher than those of 65 and over group, while total asset of 55-64 aged group was similar to 65 and over group's Second, total expediture to total imcome ratio(R1) and total asset to total debt ratio(R4) of 55-64 aged group were higher than 65 and over group's, but net worth to minimum cost of living ratio(R2) and financial asset to monthly expenditure ratio(R3) of 65 and over group were higher than 55-64 aged group's . Third, R4's Gini coefficient was the highest and R1's Gini coefficient was the lowest among all Gini coefficients. Also, R1's and R4's Gini coefficients of 55-64 aged group were greater than 65 and over group's. ourth, variables affecting R1's stability of 55-64 aged group were household head's age, educatonal attainment and family type, while those of 65 and over group were household head's age, past economic experience and the number of children. There was no significant variable affecting R2's stability of 55-64 aged group, but there was only household head's pst economic experience affecting those of 65 and over group. The variable contributing to R3's stability of 55-64 aged group was residence while the variables of 65 and over group were household head's educational attainment, past economic experience and the number of children. The variables contributing to R4's stability of 55-64 aged group were the number of children and residence, and the number of children was one variable of contributing to R4's stability of 65 and over aged group.

• International Journal of Highway Engineering
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• v.19 no.5
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• pp.1-11
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• 2017

PURPOSES : This study is aimed at development of a stochastic pavement deterioration forecasting model using National Highway Pavement Condition Index (NHPCI) to support infrastructure asset management. Using this model, the deterioration process regarding life expectancy, deterioration speed change, and reliability were estimated. METHODS : Eight years of Long-Term Pavement Performance (LTPP) data fused with traffic loads (Equivalent Single Axle Loads; ESAL) and structural capacity (Structural Number of Pavement; SNP) were used for the deterioration modeling. As an ideal stochastic model for asset management, Bayesian Markov multi-state exponential hazard model was introduced. RESULTS:The interval of NHPCI was empirically distributed from 8 to 2, and the estimation functions of individual condition indices (crack, rutting, and IRI) in conjunction with the NHPCI index were suggested. The derived deterioration curve shows that life expectancies for the preventive maintenance level was 8.34 years. The general life expectancy was 12.77 years and located in the statistical interval of 11.10-15.58 years at a 95.5% reliability level. CONCLUSIONS : This study originates and contributes to suggesting a simple way to develop a pavement deterioration model using the total condition index that considers road user satisfaction. A definition for level of service system and the corresponding life expectancies are useful for building long-term maintenance plan, especially in Life Cycle Cost Analysis (LCCA) work.

• Journal of Family Resource Management and Policy Review
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• v.3 no.1
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• pp.67-82
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• 1999

The purpose of this study were to examine assets investment behavior of urban households and find the factors affecting it. The data were obtained from 442 households living in Seoul. The statistical techniques used for this study included descriptive statistecs, logistic regression, multiple regression. The major findings were as follows: First, The ownership of houehold assets were affected by age, education, total income, total income, total asset, the number of income source, income stability, the financial expectations, past financial experiences and the job of houehold head. Second, amount of household assets was affected by husband’s age, education, unearned income, total asset, income stability, the expectiation of future, the past financial experiences and the job of household head. Third, ratios of household assets were affected by age, education, unearned income, family size, the number of income source and the job of household head. The findings of this study can be used by financial counseling and planning practioners and education.

• Journal of the Korean Home Economics Association
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• v.41 no.9
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• pp.105-120
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• 2003

This study has conducted to develop the computer program for households portfolio management to enhance their financial well-being. The study has divided into two parts. First, descriptive statistics has used to analyze as a basis of computer program and it includes the comparison of household asset allocations between households in Korea and U. S. A., Second, it shows the components of the portfolio program developed to manage households efficiently. For both two countries, recent four years data has been used and in part two, total sample size of households in Korea is 2155. From the statistical analysis, households in U. S. A. tend to invest more on the stock & bonds as their net-asset is increased. However households in Korea tend to have less financial assets and it might be found the fact that they prefer to own real-estate because of the inflation. In the part of computer program, it is included the average financial asset responding to the demographic variables and households could refer those average amount as a reference planning their asset portfolio.

• Korean Journal of Human Ecology
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• v.15 no.6
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• pp.973-984
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• 2006

This study examined the asset allocation of the aged and analyzed the impact variables on the portfolio ratio of different kind of finanical assets. The aged was divided three groups, 55-65, 65-75 and 75 over. The results showed that the aged are not likely to invest on risky asset and their assets composed of mostly real estates and bank account. The study include four different assets, such as liquid asset, risky assets, horne equity and other real estates, which reflects the liquidity problems of households asset allocation for the aged in Korea. The aged who do not participate on stock market are likely to have more liquid assets. Households lived in Daegu, Kwangju, ChungCheong and CheonRa tend to have more liquid assets compared to those in Seoul. Total income is appeared having positive relationship with illiquid assets including stock, bonds, and private pension. Age group with 75yrs over tend to have greater mean of illiquid assets and it may caused by the polarization of assets, which gives intuition for the future study.