• Title/Summary/Keyword: futures

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A Study on Methodology for Considering Risk in Power Transactions in Futures Market (선물 시공에서의 전력거래 위험 고려 방법론 연구)

  • Park, Jong-Bae;Joung, Man-Ho;Kim, Bal-Ho;Kim, Jin-Ho
    • Proceedings of the KIEE Conference
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    • 2000.07a
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    • pp.400-402
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    • 2000
  • This paper presents a game theoretic approach for power transactions analysis in a competitive market. The considered competitive power market is regarded as PooICo model, and the participating players are restricted by only two generating entities for simplicity in this paper. The analysis is performed on the basis of marginal cost based relations of bidding price and bidding generations. That is, we assume that the bidding price of each player is determined by the marginal cost when the bidding generation is pre-determined. This paper models the power transaction as a two player game and analyzes by applying the Nash eauilibrium idea. The generalized game model for power transactions covering constant-sum(especially zero-sum), and nonconstant-sum game is developed in this paper. Also, the analysis for each game model are performed in the case studies. Here, we have defined the payoff of each player as the weighted sum of both player's profits.

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Influence for Pharmacy Management by Health Functional Food after the Separation of Prescribing and Dispensing Practice (의약분업후 건강기능성식품이 약국경영에 미치는 영향)

  • Choi, Byung-Chul;Kang, Hyo-Sook;Kwak, Hyun-Soo;Sohn, Uy-Dong
    • YAKHAK HOEJI
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    • v.53 no.2
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    • pp.45-50
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    • 2009
  • The purpose of this study is to investigate the best way that health functional food contributes the diversification of pharmacy management at the new point after the separation of prescribing and dispensing practice. In the question of the number of prescription paper, it was more than 200 papers (18.9%), next 100 papers (11.3%). In case of daily total sales volume except prescription fee, it was more than 1,000,000won (28.3%). About the motivation using health functional food, the reason for activation of pharmacy management was 66%. The selling method was mainly by pharmacist recommendation and consumer's need. In comparison with after and before the separation of prescribing and dispensing, more than 60% of subjects answered that sales volume was decreased and no changed. Concerning the ratio of total sales volume to health functional food within 5 years, 66% of subjects expected that it will be increased positively. The type of best pharmacy to handle health functional food was community pharmacy. These results suggest that the handling of health functional food by pharmacist will greatly increase in near futures and will be very important portion for pharmacy management.

Research Trends and Issues of Records and Archives Classification in Korea (기록분류에 관한 국내 연구 동향과 과제)

  • Seol, Moon-Won
    • Journal of Korean Society of Archives and Records Management
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    • v.12 no.3
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    • pp.203-232
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    • 2012
  • The study aims at reviewing research trends of records classification and archival arrangement, analysing issues, and suggesting futures tasks in related research area. It starts with defining research categories of records and archives classification through analysing the term of 'classification' being found in the Public Records Management Act. Thirty five research papers which are covering classification of records and archives and published in 1980's are selected for contents analysis. Considering the analysis of domestic and foreign research, and the practical needs, it makes clear the issues and tasks for future research. The study concludes with emphasizing more empirical research for guiding records and archives management and reformulating archival theories in electronic environments.

Elderly Women′s Grief (여성 노인의 슬픔)

  • 김귀분;이경호;오혜경
    • Journal of Korean Academy of Nursing
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    • v.31 no.6
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    • pp.1021-1033
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    • 2001
  • This study sought to find a nursing intervention tool for enhancing elderly women's lives by investigating the causes and the meaning of their grief. Method: This research was derived from a phenomenological tool such as qualitative research design. The data collection took place from December of 2000 until April of 2001 Through systematic interviews and participatory observations of five elderly women attending C welfare center located in downtown Seoul the data was collected. Each interview lasted an hour and a half and was arranged five times. The analysis of this research was conducted using the Giorgi method. Results: \circled1 There was obvious physical and physiological decline caused by aging old; as well as there being spouse health problems, additional physical suffering, signs of senility, and insomnia, \circled2 Further grief was imposed by unpleasant memories of the spouse; infidelity, incapability, and even disregard of her own well-being, \circled3 Then there was pity for children; unfaithful children, uncertain futures of the children, and early death of a child, \circled4 Also, regrettable fate, painful daily acttrities, unreliable factors, bad circumstances, and feelings emptiness were reported, \circled5 Finally, anxiety for the future; ac sense of despair, loneliness, economic hardship, and the fear of imminent death increased grief levels. Conclusion: A variety of programs and social meetings for the elderly to overcome their physiological or psychological crisis should be substantially developed and supported by the government. In order to implement the social welfare for the elderly women, special consideration whether on the governmental level or the personal level, should be devoted to the elderly who live without any financial support or social concern.

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A Study of Constructing Index Fund using Wavelet Analysis (웨이블릿 기법을 이용한 인덱스 펀드 구성에 관한 연구)

  • Cho, He Youn
    • The Journal of Information Systems
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    • v.18 no.3
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    • pp.351-373
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    • 2009
  • An index fund is a collective investment scheme that aims to replicate the movements of an index of a specific financial market regardless of market conditions. An index fund is a popular investment alternative because it is much cheaper to run than an active fund and it performs better than actively managed funds. This paper illustrates the usefulness of wavelet analysis in constructing an index fund. The wavelet analysis can decompose the time series data in frequency domain as well as in time domain. The major findings of this paper are as follows. First, the beta coefficient that represents the systematic risk has the scale dependent property. This result can provide important information to the investors with various investment time frequency. Investors can use the betas corresponding to their investment frequencies among the various scale betas estimated by wavelet analysis. Second, we can find the usefulness of wavelet analysis in constructing index fund because the wavelet technique gives less tracking error(difference between the index performance and the index fund performance) than the traditional constructing techniques. The result of this study implies that the wavelet techniques can be an important analytic method to the other financial markets such as option market, futures market, bond markets and currency market.

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The Studies of the Stochastic Duration and the Relationship between Futures and Forward Prices under the Arbitrage-free Interest rate Model (차익거래 기회가 없는 이자율 변동모형 하에서 확률적 평균만기 및 선물가격과 선도가격과의 관계에 관한 연구)

  • Kang, Byong-Ho;Choi, Jong-Yeon
    • The Korean Journal of Financial Management
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    • v.19 no.2
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    • pp.27-48
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    • 2002
  • 본 논문은 이자율의 기간 구조가 차익 거래의 기회가 없도록 움직일 때 새로운 평균만기 측 정치인 AR 평균만기(arbitrage-free duration)을 도출하고 선물가격과 선도가격과의 관계를 분석한다. 지금까지 평균만기에 관한 많은 연구들은 수익률 곡선이 특정한 형태로 이동한다는 가정 하에서 평균만기를 유도하고 이에 근거하여 채권가격의 변동치를 측정하고 있다. 본 논문에서는 기존의 평균만기의 가정을 완화한 AR 평균만기를 도출하였다. 여기서 제시하는 AR 평균만기는 기존의 Macaulay 평균만기를 포함하는 일반화한 측정치라고 할 수 있다. 아울러 본 논문에서는 선물가격과 선도가격사이에 존재하는 이론적 관계를 규명하고자 하였다. 선물가격은 선도가격에 비해 할인된 가격이라는 것을 보이고 이자율 변동위험이 선물가격의 할인정도에 미치는 영향을 모형화 하였다. 최근 들어 선물을 이용한 채권 면역화에 대한 실증연구에 관심이 지속적으로 증가하고 있다. 전통적 실증연구 방법론에서는 먼저, 선물가격과 기초채권 가격사이에 존재하는 분산-공분산 행렬을 추정한다. 그런 후 추정된 분산-공분산 행렬을 바탕으로 이자율 위험 헤징 전략을 수립한 후 이 전략에 대한 실증 분석을 수행하였다. 그러나, 전통적 접근법의 가장 큰 문제는 비안정적(non-stationary)인 분산-공분산 행렬을 적절히 고려할 수 없었다는 점이다. 따라서, 본 연구의 결과를 기반으로 하면 최적의 헷징 전략을 수립하기 위한 이론적 기틀을 수립할 수 있을 것이다.

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The Impact of Difference of Linkages between Manufacturing Strategy and Action Plans - An Empirical Comparison of U.S. and Korean Manufacturers -

  • Lee, Sang-Gun;Lee, Choong-Kwon;Park, Boo-Ho
    • Journal of Korea Society of Industrial Information Systems
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    • v.5 no.4
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    • pp.81-93
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    • 2000
  • It is important to find the competitive priority, which makes a great contribution to the action plans. The reason is that this makes it possible to provide Korean manufacturers with effective behavioral model to break through the depression after 1997'financial crisis in Korea. Focused priority has become a focus of organizations faced with the need to survive in a highly uncertain business environment characterized by rapid technological change, global competition, and demanding customers. Many believe that better linkages of priority and action plans are fundamental to surviving in the world market. However, there was little previous research dealing with the relationship between the strategic priority and action plans in the view of competitive weapon. This study presents empirical findings on differences between U.S. and Korean manufacturing approach to relationship of priority and plans. Specially, Korean manufacturers are eager for good model to overcome depression of 1997' financial crisis in Korea. Data was collected as part of the Manufacturing Futures Project completed in 1996. The results indicate that U.S. manufacturers maintain focused linkages from priority to action plans than do Korean manufacturers.

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Factors Affecting Survival in Patients with Colorectal Cancer in Shiraz, Iran

  • Zare-Bandamiri, Mohammad;Khanjani, Narges;Jahani, Yunes;Mohammadianpanah, Mohammad
    • Asian Pacific Journal of Cancer Prevention
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    • v.17 no.1
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    • pp.159-163
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    • 2016
  • Background: Colorectal cancer (CRC) is the third most common cancer in the world, and the fourth in Iran in both genders. The aim of this study was to find predictive factors for CRC survival. Materials and Methods: Medical records of 570 patients referred to the radiotherapy oncology department of Shiraz Namazi hospital from 2005 to 2010 were retrospectively analysed. Data were collected by reviewing medical records, and by telephone interviews with patients. Survival analysis was performed using the Cox's regression model with survival probability estimated with Kaplan-Meier curve. The log-rank test was used to compare survival between strata. Data was analyzed with Stata 12. Results: The five-year survival rate and the mean survival time after cancer diagnosis were 58.5% and $67{\pm}4months$. On multivariate analysis, age of diagnosis, disease stage and primary tumor site, lymphovascular invasion and type of treatment (in colon cancer) were significant factors for survival. Conclusions: Age of diagnosis and type of treatment (adjuvant therapy in patients with colon cancer) were two modifiable factors related to survival of CRC patients. Therefore earlier diagnosis might help increase survival.

A Study of Art Marketing Using Korean Features (한국적 요소를 활용만 아트마케팅 현황 고찰)

  • Hong, Jung-Young;Park, Eun-Kyung
    • Journal of the Korean Society of Costume
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    • v.59 no.7
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    • pp.140-153
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    • 2009
  • In the 21st century called an age of culture and art beyond the information and technology, many companies are developing various art marketings. Cases of the art marketing especially utilizing Korean features among art marketings are being increased recently. It is creating new values as a characteristic based on the cultures value of Korea. This thesis examined cooperative product development focusing on collaborative trends between designers, artists and companies through research on product and art marketing using Korean features. Additionally, by studying features of culture promotional event including exhibition and contest sponsorship, advertisement and packaging and the meaning of futures art marketing were discussed. Though, to date, academic researches have not been thoroughgoing enough in this field, it is considered that cultural product commercializing cultural particularity can strengthen the national image with acknowledgement of the global value as the art marketing using Korean features can contribute to improve recognition and the national image. Based upon this study, the value of Korean features on which custom culture of Korea dwells will be able to give a help to the designer and artist for progressing collaboration with companies as well as the companies for introducing new cultural characteristic to marketing, in the future-proof point of view. Additionally, it will be able to help the government planning the policy for intensifying the national image as a reference.

A Review of Customer Satisfaction Factors in Libyan Housing Projects

  • Shebob, Abdulhamid;Shah, Raj;Mhalas, Amit
    • Journal of Construction Engineering and Project Management
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    • v.3 no.4
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    • pp.26-34
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    • 2013
  • Customer satisfaction and customer relationship are crucial aspect in any enterprises including housing construction projects. In general, the housing developers are facing a number of new challenges in different countries including Libya. The construction industries/housing developers need to continuously improve their products and services to meet customers' satisfaction desires and to remain in the current competitive market. This paper focuses on analysing the satisfaction factors of customers including qualityaspects of products and services in the construction projects. A framework was developed to evaluate the dynamics relationship between customer satisfaction and quality products or services, aiming to help companies' managers and policy makers to understand the needs and points of view of their customers. Apragmatic analysis was conducted to explore and analyse the customer satisfaction factors in construction industry considering different aspect of customer groups in Libya. Results indicate that there is a high demand of improvements in the contractor's performance in terms of cost, time and quality of products. It was also found that Libyan construction companies have been forced to transform their policies after on Libyan war 2011 to focus on client and customer satisfactory policies, or say centric for the purpose of improving client requirements and turn the business into more advantageous for any company.