• 보건행정학회지
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• 제23권4호
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• pp.343-348
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• 2013

Background: Price control alone may not successfully restrain growth in health expenditures. This study aimed to propose fee adjustment model suitable for Korea reflecting health service volume and to clarify applicability of the model by comparing actual conversion factor with estimated conversion factor from simulation of this model. Methods: Fee adjustment model was developed based on Alberta's fee adjustment formula in Canada and 7 alternatives were assessed according to diversely applied parameters of the model. Results: Estimated conversion factors of the tertiary care hospital and the hospital were lower than actual conversion factors, since the utilization of heath service has been increased. However, there was no big difference between estimated conversion factors and actual conversion factors of the general hospital and the clinic. Eventually this fee adjustment model could estimate proper conversion factor reflecting health service volume. Conclusion: This model may be applicable to the mechanism as determining conversion factor between insurer and provider via negotiation and controling growth in health expenditures.

• Journal of the Korean Data and Information Science Society
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• 제18권4호
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• pp.1123-1134
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• 2007

This article addresses the problem of testing whether the shape parameters in k independent Weibull populations are equal. We propose a Bayesian model selection procedure for equality of the shape parameters. The noninformative prior is usually improper which yields a calibration problem that makes the Bayes factor to be defined up to a multiplicative constant. So we propose the objective Bayesian model selection procedure based on the fractional Bayes factor and the intrinsic Bayes factor under the reference prior. Simulation study and a real example are provided.

• 응용통계연구
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• 제26권3호
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• pp.471-481
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• 2013

J. P. Morgan의 RiskMetrics을 기반으로 하는 현행 VaR 모형은 구조적으로 미래 경기상황을 반영할 수 없는 단점으로 인해 불안정한 경기상황에서는 손실이 VaR을 초과하는 결정적인 문제점을 내포하고 있다. 어느 기업의 미래의 주가는 해당 기업만의 고유요인은 물론 모든 기업의 주가에 공통적으로 영향을 미치는 경기변동 공통요인에 의해 결정된다. 따라서 본 연구에서는 주가의 변동요인을 기업의 고유요인과 경기변동 공통요인으로 구분하여, 미래 경기변동 공통요인에 대해서는 현재시점에서 예측한 값을 사용하는 원-팩터(One-factor) VaR 모형을 제안한다. 이와 같은 원-팩터 VaR 모형은 미래의 예측된 경기상황을 반영을 반영하여 손실이 VaR을 초과하는 현행 VaR 모형의 문제점을 해결할 수 있을 뿐만 아니라 자산의 목표보유기간을 증가시켜 경기변동에 따른 손실을 최소화하기 위한 포트폴리오에 대한 자산구성과 자금이전을 선제적으로 실시할 수가 있다.

• 한국병원경영학회지
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• 제16권3호
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• pp.57-74
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• 2011

The purpose of this study is to analyze the relationship between the BSC model's non-financial factors such as learning and growth, internal process, customer and financial factor in general hospitals. To achieve research purpose, the data were collected from 293 employees of 5 hospitals using a standardized questionnaires which were constructed to include BSC model, and applied the structural equation modeling to examine the relationship between non-financial and financial factor. The results show that the learning and growth factor of the model has positive effects of the internal process and customer factor. The internal process and customer factor are strongly related to financial factor. Hospitals have to know non-financial factor which has positively relate to financial factor. Therefore, the results of this study help to enhance the health care center to become aligned and focused on implementing the long-term competitive strategy. This study proposes an effective performance indicators for general hospitals and it is expected to be likely to have positive influence upon enhancing services of general hospitals.

• 복식문화연구
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• 제16권4호
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• pp.595-608
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• 2008

Although Korean apparel companies have transformed dramatically from contractors to sourcing companies thanks to the rapid growth of local market, relatively little work has been done identifying the determinants and the patterns of global sourcing activities of Korean companies. The purpose of this study was to outline a conceptual model that may be used to organize and guide global sourcing activities of Korean apparel manufacturers and retailers. The conceptual model identified four important factors, cost factor, strategic non-cost factor, firm's internal factor, and global factor, which affect global sourcing strategies and help predict how companies conduct various sourcing activities. The model also identified two sourcing patterns, outsourcing and intra-firm sourcing. In developing the model, literature review on how manufacturers and retailers in diverse areas including global apparel sourcing was conducted. Managerial implications and directions far future study were offered as well.

• East Asian Economic Review
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• 제18권2호
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• pp.111-142
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• 2014

We examine whether country fundamentals help explain the cross-section of currency excess returns. For this purpose, we consider fundamental variables such as default risk, foreign exchange rate regime, capital control as well as interest rate in the multi-factor model framework. Our empirical results show that fundamental factors explain a large part of the cross-section of currency excess returns. The zero-intercept restriction of the factor model is not rejected for most currencies. They also reveal that our factor model with country fundamentals performs better than a factor model with usual investment-style factors. Our main empirical results are based on 2001-2010 balanced panel data of 19 major currencies. This paper may fill the gap between country fundamentals and practitioners' strategies on currency investment.

• 한국콘텐츠학회논문지
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• 제18권10호
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• pp.490-497
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• 2018

본 연구는 국내 주식시장을 대상으로 고유변동성을 위험요인으로 산출한 CIV(common idiosyncratic volatility)요인이 가격결정요인으로 평가될 수 있는지를 검증하였다. 분석기간은 1992년 7월부터 2016년 6월까지로 설정하였으며, 총 288개월간의 월별 자료를 이용하였다. 본 연구의 주요 실증결과는 다음과 같다. CIV요인 계수를 기준으로 구성된 검증포트폴리오들의 CIV요인민감도 차이에 따라 통계적으로 유의한 수익률 차이를 보임으로써 CIV요인에 대한 위험프리미엄이 존재하는 것을 확인하였다. 또한, CIV요인에 대한 위험프리미엄은 기존의 요인모형들에 CIV요인을 추가함으로써 잘 설명되는 것으로 나타났다. 결과적으로 CIV요인은 유의한 위험프리미엄을 가지고 있으며 가격결정요인의 관점에서 평가가 가능한 것으로 판단된다.

• 대한전기학회논문지
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• 제32권2호
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• pp.43-49
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• 1983

In this study, model simplification problem using singular perturbation technique is considered. The correctness and errors of simplified model which is obtained by the use of this technique, depends upon the order and the time scaling factor of the simplified model But, unfortunately, there is no explicit criteria for selections of these parameters. In this paper, error equations are derived and expanded by using the useful properties of $L_2$-norm. Then, new criteria for selecting the order of the simplified model and time scaling factor with respect to error bound are suggested. Since these criteria, newly proposed in this study, have strong concern about error bound, it can be used to choose the minimum order of the simplified model and time scaling factor with respect to given error bound. Conversely, if the order of the simplified model and time scaling factor are given, the error induced by the simplification can also be computed easily.

• 한국조리학회지
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• 제14권2호
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• pp.215-224
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• 2008

The objective for this research was to clarify the preference for alternative restaurants with different combinations of factor levels: local specialty food, non-local specialty food, very attentive service, moderately attentive service, not attentive service, traditional decoration, modern decoration, \10,000, \15,000, and \20,000. Total 230 copies of questionnaire were completed. Conjoint experiment method was used to develop full restaurant profiles. Ordinal probit model was used to measure the effects of factor levels on the preference. Results of the study demonstrated that the ordinal probit model analysis result for the data also indicated a good model fit. The effects of factor levels on the preference were statistically significant. As expected, the estimates of implicit price to pay were statistically significant. Moreover, the customers were more willing to pay for local specialty than other factor levels. The customers also considered the food factor as a very important factor. This research suggested that the customer's decision-making process for restaurants was best modeled as a conjoint experiment method that combines various factor levels. And it showed the results could be used as good data for understanding the relationships between the factors and preference in choosing food and restaurants in tourist areas.

• The Journal of Asian Finance, Economics and Business
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• 제8권3호
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• pp.717-729
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• 2021

This paper examines the efficacy of the default risk factor in an emerging market context using the Fama-French five-factor model. Our aim is to test whether the Fama-French five-factor model augmented with a default risk factor improves the predictability of returns of portfolios sorted on the firm's characteristics as well as on industry. The default risk factor is constructed by estimating the probability of default using a hybrid version of dynamic panel probit and artificial neural network (ANN) to proxy default risk. This study also provides evidence on the temporal stability of risk premiums obtained using the Fama-MacBeth approach. Using a sample of 3,806 firm-year observations on non-financial listed companies of Pakistan over 2006-2015 we found that the augmented model performed better when tested across size-investment-default sorted portfolios. The investment factor contains some default-related information, but default risk is independently priced and bears a significantly positive risk premium. The risk premiums are also found temporally stable over the full sample and more recent sample period 2010-2015 as evidence by the Fama-MacBeth regressions. The finding suggests that the default risk factor is not a useless factor and due to mispricing, default risk anomaly prevails in the Pakistani equity market.