• Management Science and Financial Engineering
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• v.2 no.1
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• pp.73-101
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• 1996

We show assets can be classified into diversifiable risks and non-diversifiable risks based on aggregate endowment and spanning so that in equilibrium agents eliminate diversifiable risks which must have zero values. Consequently, the benchmark portfolio that represents a pricing operator should have only a non-diversifiable risk, aggregate endowment should earn a positive risk premium over a riskless asset, and, even in incomplete markets, there should be a pricing operator represented by a function of aggregate endowment if any asset mean-independent of aggregate endowment is diversifiable. These results apply to both the CAPM and a representative agent model.

• Journal of Korean Society of Archives and Records Management
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• v.13 no.2
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• pp.87-113
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• 2013

Various types of records and archives would be producted in universities as a result of specialized tasks on education and research by experts. But most of the studies were focused on general areas in a university. This study was performed with the motivation, wherein management and preservation of university archives producted through various activities in a university should be uniform and are in need of increased awareness of university archives. Based on the background, this study aims to examine the importance and value of university archives related to endowment for university development. To achieve the goals, this study investigated the features and types of university archives related to endowment. Because most of universities have a department that raises endowment, this study performed an analysis and examination of the current status of management on endowment archives. Through this research, this study proposed a model for management of university archives related to endowment.

• Journal of applied mathematics & informatics
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• v.8 no.3
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• pp.1001-1007
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• 2001

In this paper, we show the existence of securities protfolio in security model with influx and find the non-arbitrage class of protfolios.

• Science of Emotion and Sensibility
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• v.24 no.3
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• pp.27-40
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• 2021

Because of self-enhancement motives, when involved in social comparison, many people generally value things that are related to themselves, with the representative example being possessions, which is known as the endowment (ownership) effect. However, there are times when someone else's possessions appear to be better than our own, even if they are the same things, which is known as the endowment effect reversal. The purpose of this study was to explore the moderating variable that regulates the endowment effect and the endowment effect reversal by confirming whether the value estimation of others' belongings differed through a regulatory focus as it was surmised that the regulatory focus would moderate the endowment effect of the self versus the others' ownership. Foreign participants were shown the currency of a country they were unfamiliar with and asked to estimate the value in their home country currency. It was found that when people thought the money was their own, people with a promotion focus estimated the value to be higher than people with a prevention focus. However, when they thought it was someone else's money, the regulatory focus moderating effect was not found to be significant, which suggested that the endowment effect may be strengthened or eliminated depending on the individual's regulatory focus. Based on these study results, the implications, limitations, and suggestions for follow-up studies are discussed.

• Journal of the Economic Geographical Society of Korea
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• v.9 no.1
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• pp.7-22
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• 2006

This study examines the mud-based cosmetic business by the City of Boryeong, as a case of commodifying a locality's endowment or assets for local development. Concretely, the study discusses current status, history, and challenges of the business, which is an integral component of the key industry Boryeong seeks to promote by using mud materials. The discussion also encompasses the factors behind the development of the business. From the discussion, my work presents the business‘s implications for the commodification of local endowment/assets and promotion of relevant key industries that not a few localities across Korea pursue for their development. I deal with such implications, primarily in terms of the local institutional capacity that induces the consistent participation and cooperation from a wide variety of stake-holder as well as the shared vision among such stake-holders in order to enable a locality to effectively use its endowments/assets for local development. And this work reiterates that the institutional capacity which is significant for local development has to be analyzed in depth and such an analysis should produce codified knowledge which can function as guidances or manuals for many localities.

• Korean Journal of Construction Engineering and Management
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• v.21 no.3
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• pp.3-10
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• 2020

The endowment and concession has been put to practical use for the relocation projects of military Facilities. Yet, in terms of the project implementation, delay of a great deal of the projects is occurring due to related regulations and standards, as well as a lack of mutual understanding between project implementers and military units. This study analyzes the risk factors by identifying and prioritizing the potential risk factors at each stage of project implementation such as the issues that limit project characteristics and implementation. Among the derived risk factors, request exceeding facility standards in the licensing and design phases, opposition to troop relocation in the project approval phase, design change during construction phase in the construction and completion phases, dissenting opinions on endowed/conceded property in the property disposal phase and absence of facility standards in the MOA conclusion phase were found to be the main object of consideration in risk management. This study is expected to provide project managers with a guideline for effectively pursuing the projects, as it provides prioritization and optimization of risk management.

• Journal of the Korean Society for Library and Information Science
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• v.52 no.1
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• pp.159-178
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• 2018

The purpose of this study is to understand the characteristics of books selected for 'The Big Read' community reading initiative of the National Endowment for the Arts from 2006 to 2017 and its relation with 'One Book, One City' community reading campaign in the U.S.A. An analysis of 1,407 TBR programs and 745 participating communities, and 56 books from TBR Library shows that TBR expands and complements 'One Book' reading campaigns, and confirms the sustenance of this innovative model. TBR Libray books were selected with TBR's own criteria, but their features are generally very similar to those of 1,102 books selected for 'One Book' programs. They often reflect some interests in such universal values as coming of age, justice, integrity, etc. and diverse cultural experiences and life. The outcomes of 'One Book' and TBR cannot be qualitatively measured, but their sustainable value of communication through one selected book has been well proved.

• Journal of Digital Convergence
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• v.19 no.3
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• pp.65-79
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• 2021

The purpose of this study was to research how emotional factors affect decision-making on the maintenance and abandonment of a patent, and to present new criteria for patent policies. The types of Korean patent abandonment were analyzed according to the patent holding period, and a questionnaire survey was carried out to verify whether there are differences among patentees in terms of sunk cost bias, endowment effect, and coupling or not. Individuals and small and medium-sized enterprises showed relatively greater emotional bias toward sunk cost and endowment effect than large companies, and the sunk cost effect decreased as decision-making experience increased. In addition, the reduction in the payment cycle of the patent renewal fee has a positive effect on the increase in the willingness to use the patent right, and the individuals and small and medium-sized enterprises has a greater synergistic effect than the case of large companies, in particular. This study are expected to play a part in establishing policies to minimize wasteful factors of patent assets based on the propensity of the patentees.

• Journal of Korean Library and Information Science Society
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• v.40 no.2
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• pp.311-333
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• 2009

The purpose of this study is to investigate the characteristics of 'The Big Read(TBR)' reading initiatives sponsored by the National Endowment for the Arts(NEA) in the U.S.A. TBR was originally launched to improve the seriously low level of literary reading among the American adults reported in several NEA reports, and spread to more than 500 communities. The major characteristics of TBR include the following: First, a massive investment of federal funds as well as various private and corporate donations; Second, the strong recognition of libraries as the core of reading activities in communities; Third, the adoption of the model of 'One Book, One Community' reading promotion campaign; Fourth, the provision of high quality resources for reading activities.

• The Journal of Information Systems
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• v.28 no.4
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• pp.251-270
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• 2019

Purpose Unlike advertising through the traditional media targeting unspecified number of people, the base of mobile environment using smartphone has expanded so that many companies can classify prospective customers according to their purpose, thereby enabling efficient targeted marketing with low cost. Design/methodology/approach This study has investigated how can marketing strategy be influenced by the price promotion type (immediate discount/delayed discount) and message framing (positive/negative) according to time pressure (low/high). Hypotheses are set through the consideration of prospect theory, endowment effect, framing effect, regulatory-focus theory, and time-pressure theory. Findings The results and interpretation of this study are as follows. First, it was found that the influence of the delayed discount on the purchase intention was larger than the immediate discount. Second, negative/loss frame messages have more influence on purchase intention than positive/profit frame messages. Third, when the price promotion type is delayed discount, the effect of the promotion message on the purchase intention when it presented by negative/loss frame is greater than the other cases. The implication of this study is that it can be used as a basic data for establishing a strategy to maximize the effectiveness of promotions effectively considering potential buyers of mobile commerce environment.