• 제목/요약/키워드: expected net value

검색결과 96건 처리시간 0.03초

The Short-Term Fear Effects for Taiwan's Equity Market from Bad News Concerning Sino-U.S. Trade Friction

  • YANG, Shu Ya;LIN, Hsiu Hsu;LIU, Ying Sing
    • The Journal of Asian Finance, Economics and Business
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    • 제8권3호
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    • pp.127-137
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    • 2021
  • Mainland China area has been a long-term, major trade rival and partner of Taiwan, accounting for more than 40% of Taiwan's total annual trade exports, and so Sino-US trade friction is expected to have a significant impact on Taiwan's economy in the future. This study focuses on major bad news of Sino-US trade frictions and how it generates short-term shocks for Taiwan's equity market and fear sentiment. It further explores the mutual interpretation relationship between price changes such as VIX, Taiwan's stock market index, and the VIX ETF to identify which factors have information leadership as leading indicators. The study period covers 750 trading days from 2017/1/3 to 2020/1/31. This study finds that, when a policy news is announced, the stock market index falls significantly, the change in the trading price (net value) of the VIX ETF rises significantly, and the overprice rate significantly drops, but VIX does not, showing that fear sentiment exists in the Taiwan's market. The net value of the VIX ETF shows an information advantage as a leading indicator. This study suggests that, when the world's two largest economies clash over trade, the impact on Taiwan's equity market is inevitable, and that short-term fear effects will arise.

전기저항 측정기법을 이용한 오염물질 누출감지시스템의 개발: II. 현장모형시험을 통한 매립지에의 적용성 평가 (Development of Contaminant Leakage Detection System Using Electrical Resistance Measurement: ll. Evaluation of Applicability for Landfill Site by Field Model Tests)

  • 오명학;이주형;박준범;김형석;강우식
    • 한국지반공학회논문집
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    • 제17권6호
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    • pp.225-233
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    • 2001
  • 본 논문에서는 격자망식 전선배치에 의한 침출수 누출감지시스템을 개발하기 위하여 현장모형시험을 통하여 적용성을 평가하였으며, 전기회로시험을 통하여 격자망 전선 배치에서 발생하는 전기회로적 효과를 파악하고자 하였다. 침출수는 전기저항을 감소시키기 때문에 누출지점에서는 다른 지점에 비해 낮은 전기저항값을 나타내었다. 따라서, 전기저항을 측정하는 본 누출감지시스템에 의하여 임의 지점에서 발생하는 침출수의 누출 감지가 가능하였으며, 평면적 분포도를 통하여 누출위치의 파악이 가능하였다. 전기저항이 감소된 지점과 동일한 전선상에 위치한 다른 센서에 서의 측정값도 약간 감소하는 경향을 나타내었으나, 이는 저항이 작은 곳으로 전류의 흐름이 발생하는 전기회로적 효과로 설명할 수 있었다.

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리얼옵션을 활용한 AMOLED산업 라인 증설의 옵션가치 (REAL OPTIONS VALUATION MODEL OF LINE EXPANSION PROBLEM IN THE AMOLED INDUSTRY LINE EXPANSION)

  • 이수정;김도훈
    • 한국경영정보학회:학술대회논문집
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    • 한국경영정보학회 2008년도 춘계학술대회
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    • pp.957-962
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    • 2008
  • We propose a model for the line expansion problem in the AMOLED (Active Matrix Organic Light Emitting Diodes) industry, which now faces market uncertainty: for example, changing customer needs, technological development path, etc. We focus on the optimal investment time and size of the AMOLED production lines. In particular, employed here is the ROV (Real Options Valuation) model to show how to capture the value of line expansion and to determine the optimal investment time. The ROV framework provides a systematic procedure to quantify an expected outcome of a flexible decision which is not possible in the frame of the traditional NPV (Net Present Value) approach. Furthermore, we also use Monte Carlo simulation to measure the uncertainty associated with the line expansion decision; Monte Carlo simulation estimates the volatility of a decision alternative. Lastly, we present a scenario planning to be conducted for what-if analysis of the ROV model.

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확률모형을 이용한 정보보호 투자 포트폴리오 분석 (Probabilistic Modeling for Evaluation of Information Security Investment Portfolios)

  • 양원석;김태성;박현민
    • 한국경영과학회지
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    • 제34권3호
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    • pp.155-163
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    • 2009
  • We develop a probability model to evaluate information security investment portfolios. We assume that organizations install portfolios of information security countermeasures to mitigate the damage such as loss of the transaction being processed, damage of hardware and data, etc. A queueing model and Its expected value analysis are used to derive the lost cost of transactions being processed, the replacement cost of hardwares, and the recovery cost of data. The net present value for each portfolio is derived and organizations can select the optimal information security investment portfolio by comparing portfolios.

중국의 국제기업회계기준 공정가치의 가치 관련성 분석 (Analysis of the Value Relevance on International Financial Reporting Standards Fair Value in China)

  • 김동일
    • 디지털융복합연구
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    • 제12권9호
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    • pp.75-81
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    • 2014
  • 본 연구는 중국의 국제회계기준 도입으로 나타나는 회계정보의 유용성을 분석하기 위해 상해증권시장의 자료와 심천증권시장의 자료를 이용하여 연구 분석 하였다. 또한 본 연구의 객관적 접근을 위해 관련 선행연구를 종합하여, 본 연구의 연구모형에 맞게 수정 조정하여 가설을 설정하고 실증분석을 토대로 가설을 검증 하였다. 본 연구에서는 공정 가치를 도입한 기간 전후를 통해 공정가치가 기업의 가치 관련성에 영향 관계에 있는지를 분석하기 위해 세부적인 대별 변수를 투입하여 가설을 검중 하였다. 가설 분석에서는 공정가치 평가를 도입한 기간이 상대적으로 회계정보의 질에 영향을 미치는 것으로 분석 및 추정 될 수 있었다. 이러한 결과는 기업의 주당순자산가액과 주당순이익과의 관계에 있어서 가치 관련성이 유의한 수준에서 영향관계에 있었기 때문이다. 따라서 향후 연구에서는 공정가치의 평가방법이 기업의 가치 관련성에 영향을 줄 수 있는 주요한 관련변수로 논의될 수 있을 것으로 기대된다.

A Study on the Value Added Criterion of Rules of Origin under FTAs with the US and EU: Focusing on Automotive Sector

  • Chung, Jae-Wan;Han, Ki-Moon
    • Journal of Korea Trade
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    • 제23권6호
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    • pp.1-13
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    • 2019
  • Purpose - This study deals with a strategic plan for meeting the value added criteria effectively, which is one of the methods of determining origin used in preferential trade such as FTA. Automobile products, one of the major Korean export items, were selected to give a practical use against the FTA requirements. Design/methodology - This study is based on the value-added criteria of the Korea-US and Korea-EU FTAs that apply various value-added criteria. The Korea-US FTA adopts the RVC method based on the integration, deduction and net cost methods, while the MC method is employed in the Korea-EU FTA. The methodology used in this work is an extended literature review, analysis of the value-added criteria applied to automobile products under Korea-US and Korea-EU FTA with some secondary statistics. Findings - Based on in - depth analysis of the value - added criteria requirements for automobile products stipulated in the Korea - US FTA and the Korea - EU FTA, two strategic considerations are suggested. First is 'appropriate value-added strategy' and the second is 'strategy of changing production and trade structure'. The second strategy is a bit used in Korea but this is not considered best if the first strategy is ignored or forgotten. The second one is meaningful when this becomes inevitable. Research limitations/implications - This study is primarily designed to assist Korean auto mobile industry players exporting to EU and USA but this may help to auto part or material producers in FTA counter party territories being EU or USA as the preferential tariffs are applied on a inter region basis. A further research other than auto mobiles using other major FTAs might be followed later. Originality/value - There has been so far little research on strategic factors to meet the value-added origin requirements. This study, therefore, is expected to contribute facilitating the decision of FTA origin and to improve the utilization of FTA by allowing exporting companies using value added criterion to more smoothly meet origin requirements. This will also enable the tax authorities to utilize the value-added criterion to validate effectively the origin of imports where preferential tariffs are applied.

패밀리 레스토랑 웹사이트 평가를 통한 효율적인 운영방안에 관한 연구 (A Study of Efficient Operation Plan through Family Restaurant Websites Evaluation)

  • 김장익;김진영
    • 한국조리학회지
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    • 제9권2호
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    • pp.64-84
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    • 2003
  • There is this research that supply better experience and satisfaction of most suitable in users standpoint to users through family restaurant website importance and assessment of satisfaction. Also, there is purpose of this research to supply pendulum in family restaurant internet marketing strategy establishment that website can achieve continuous role as marketing means to be not public information that drive revisit and substantial restaurant visit. Family restaurant website estimation received satisfaction assessment which do not get in importance (expected value) in general as analysis result. In other words, domestic family restaurants website are doing construction. operation by marketing means but real users are various interaction part that can collect and achieve about customer opinion except design part that can do to emboss company's image could see side that satisfaction is unenchanted and presented improvement way in website construction. operation on contents part of various and correct information offer and so on that customer infancy strategy part and user of event and coupon event etc. that is distinction robbers need. Also, realization possibility for restaurant prescription that latent customers who use net can raise family restaurant website revisit and substantial sale could see side. Ditto improvement way in that family restaurants construct and operate website conclusively as a marketing tool that public information is not that three offers satisfaction of most suitable to latent customers who use existent net to website as can achieve continuous role contribute.

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40 Gbps RZ Transmission Using Dispersion Compensation of Single-Span in Optical Transmission Links with Multi-Span of Single Mode Fiber

  • Lee, Seong-Real
    • Journal of information and communication convergence engineering
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    • 제9권1호
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    • pp.32-37
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    • 2011
  • In dispersion management (DM) and optical phase conjugation applied into optical transmission links with multi fiber spans for minimizing the impact of nonlinearity and group velocity (GVD), implementation possibility of DM using only one fiber span for pre- or postcompensation was assessed as a function of duty cycle of RZ pulse and residual dispersion per span (RDPS). It is confirmed that DM with optimal net residual dispersion (NRD) controlled by only one fiber span could be sufficiently applied into optical transmission links, though optimal NRD is more increased than that in transmission links with the general DM scheme of pre- and postcompensation. Thus, it is expected that optical transmission system is simply designed and implemented by applying the proposed DM scheme into real optical transmission links. Also, it is confirmed that the advantageous duty cycle of RZ is 0.5 and RDPS is setting to be small value for the effective transmitting wide signal wavelength range in optical links with optimal NRD controlled by only one fiber span.

Novel approach to predicting the release probability when applying the MARSSIM statistical test to a survey unit with a specific residual radioactivity distribution based on Monte Carlo simulation

  • Chun, Ga Hyun;Cheong, Jae Hak
    • Nuclear Engineering and Technology
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    • 제54권5호
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    • pp.1606-1615
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    • 2022
  • For investigating whether the MARSSIM nonparametric test has sufficient statistical power when a site has a specific contamination distribution before conducting a final status survey (FSS), a novel approach was proposed to predict the release probability of the site. Five distributions were assumed: lognormal distribution, normal distribution, maximum extreme value distribution, minimum extreme value distribution, and uniform distribution. Hypothetical radioactivity populations were generated for each distribution, and Sign tests were performed to predict the release probabilities after extracting samples using Monte Carlo simulations. The designed Type I error (0.01, 0.05, and 0.1) was always satisfied for all distributions, while the designed Type II error (0.01, 0.05, and 0.1) was not always met for the uniform, maximum extreme value, and lognormal distributions. Through detailed analyses for lognormal and normal distributions which are often found for contaminants in actual environmental or soil samples, it was found that a greater statistical power was obtained from survey units with normal distribution than with lognormal distribution. This study is expected to contribute to achieving the designed decision error when the contamination distribution of a survey unit is identified, by predicting whether the survey unit passes the statistical test before undertaking the FSS according to MARSSIM.

Proposal of Artificial Intelligence Convergence Curriculum for Upskilling of Financial Manpower : Focusing on Private Bankers and Robo-Advisors

  • KIM, JiWon;WOO, HoSung
    • 4차산업연구
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    • 제2권1호
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    • pp.19-32
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    • 2022
  • Purpose - As new technologies that have led the 4th industrial revolution spread after the COVID-19 pandemic, the business crisis of existing financial institutions and the threat of employee jobs are growing, especially in the financial sector. The purpose of this study is to propose a human-technology convergence curriculum for creating high value-added in financial institutions and upskilling financial manpower. Research design, data, and methodology - In this study, a curriculum was designed to strengthen job competency for Private Bankers, high-quality employees of a bank dealing with high-net-worth owners. The focus of the design is that learners acquire skills to use robo-advisors as a tool and supplement artificial intelligence ethics. Result - The curriculum is organized into a total of 16 classes, and the main contents are changes in the financial environment and financial consumers, the core technology of robo-advisors and AI ethics, and establishment and evaluation of hyper-personalized asset management strategies using robo-advisors. To achieve the educational goal, two evaluations are performed to derive individual tasks and team project results. Conclusion - Human-centered upskilling convergence education will contribute to improving employee value and expanding corporate high value-added business areas by utilizing new technologies as tools. It is expected that the development and application of convergence curriculum in various fields will continue to be advanced in the future.