• Title/Summary/Keyword: leverage

Search Result 677, Processing Time 0.023 seconds

The Influence of Environmental Factors on Knowledge Sharing and Performance in Travel Agency (여행사의 지식공유 환경요인이 지식공유와 성과에 미치는 영향에 관한 연구)

  • Cheon, Deokhee;Park, Chanwook;Kang, Inwon
    • Knowledge Management Research
    • /
    • v.11 no.3
    • /
    • pp.47-58
    • /
    • 2010
  • Knowledge is fundamental asset for firms in the contemporary economy. Organizations are attempting to leverage their knowledge resources by employing knowledge management. However, a large number of KM initiatives fail due to the ignoring of human factors. We adopt theoretical framework and augment it with extrinsic variables, individual, organizational, and systematic factors that are believed to influence knowledge sharing and outcome of travel agency.

  • PDF

A Study on Sensitivity Analysis in Ridge Regression (능형 회귀에서의 민감도 분석에 관한 연구)

  • Kim, Soon-Kwi
    • Journal of Korean Society for Quality Management
    • /
    • v.19 no.1
    • /
    • pp.1-15
    • /
    • 1991
  • In this paper, we discuss and review various measures which have been presented for studying outliers, high-leverage points, and influential observations when ridge regression estimation is adopted. We derive the influence function for ${\underline{\hat{\beta}}}\small{R}$, the ridge regression estimator, and discuss its various finite sample approximations when ridge regression is postulated. We also study several diagnostic measures such as Welsh-Kuh's distance, Cook's distance etc.

  • PDF

An Up-Trend Detection Using an Auto-Associative Neural Network : KOSPI 200 Futures

  • Baek Jinwoo;Cho Sungzoon
    • Proceedings of the Korean Operations and Management Science Society Conference
    • /
    • 2002.05a
    • /
    • pp.1066-1070
    • /
    • 2002
  • We propose a neural network based up-trend detector. An auto-associative neural network was trained with 'up-trend' data obtained from the KOSPI 200 future price. It was then used to predict an up-trend Simple investment strategies based on the detector achieved a two year return of $19.8\%$ with no leverage.

  • PDF

Asymmetry of stock market volatility in high frequency data

  • Lee Ji-Hyeon;Kim Dong-Seok;Lee Hoe-Gyeong
    • Proceedings of the Korean Operations and Management Science Society Conference
    • /
    • 2004.10a
    • /
    • pp.582-586
    • /
    • 2004
  • The purpose of this study is to examine the lead-lag relationship between volatility and returns in high frequency stock market data to see the validity of two hypotheses that explain volatility asymmetry. Specifically, wavelet analysis is applied to decompose the volatility process into permanent and transitory components and then each component is investigated in conjunction with returns. The results from cross-correlation analysis between volatility and returns support the leverage effect hypothesis rather than the volatility feedback hypothesis in all cases.

  • PDF

Stellar Archeology: What White Dwarf Stars Tell Us About the History of the Galaxy

  • Oswalt, Terry D.
    • Journal of Astronomy and Space Sciences
    • /
    • v.29 no.2
    • /
    • pp.175-180
    • /
    • 2012
  • White dwarf stars have played important roles in rather diverse areas of astrophysics. This paper outlines how these stellar remnants, especially those in widely separated "fragile" binaries, have provided unique leverage on difficult astrophysical problems such as the ages of stars, the structure and evolution of the Galaxy, the nature of dark matter and even the discovery of dark energy.

Free Cash Flow, Agency Conflicts, and Compensation Plans in a Non-growing Industry

  • Park, Sang-Bum
    • The Korean Journal of Financial Studies
    • /
    • v.10 no.1
    • /
    • pp.249-269
    • /
    • 2004
  • Free cash flow is known as a typical type of agency conflict between managers and shareholders in a firm. The insurance industry, which is not growing, is particularly susceptible to such excessive cash flow. We herein investigate the effects of stock ownership plans on reducing agency conflicts. We adopt undistributed cash flow to proxy free cash flow, and size, default risk, group membership, leverage, investment opportunity, and stock options are selected as explanatory variables. We find that stock option plans are effective(at a 10% level) in reducing free cash flow.

  • PDF

Ownership Structure and Syndicated Loan Maturity

  • Lee, Sang-Whi
    • The Korean Journal of Financial Management
    • /
    • v.25 no.3
    • /
    • pp.155-173
    • /
    • 2008
  • Controlling for the impacts of main strands of debt maturity theories, we highlight the relationship between syndicated loan maturity and ownership structure of Korean borrowers. We find that as the ownership of large shareholders increases, the maturity of syndicated loans also increases. Additionally, we identify a negative relation between foreigners' ownership and loan maturity, indicating that foreign institutional investors serve valuable monitoring functions; as their equity shares increase, they fully take advantage of frequent renewals through the short maturity of syndicated loan. We also show that the predicted value of leverage is more systematically and positively related to the maturity of syndicated loan.

  • PDF

On Simultaneous Considerations of Variable Selection and Detection of Influential Cases

  • Ahn, Byoung-Jin;Park, Sung-Hyun
    • Journal of the Korean Statistical Society
    • /
    • v.16 no.1
    • /
    • pp.10-20
    • /
    • 1987
  • The value of statistics used for variable selection criteria can be reduced remarkably by excluding only a few influential cases. Furthermore, different subsets of regressors change leverage and influence patterns for the same response variable. Based on these motivations, this paper suggests a procedure which considers variable selection and detection of influential cases simultaneously.

  • PDF

Robust Singular Value Decomposition BaLsed on Weighted Least Absolute Deviation Regression

  • Jung, Kang-Mo
    • Communications for Statistical Applications and Methods
    • /
    • v.17 no.6
    • /
    • pp.803-810
    • /
    • 2010
  • The singular value decomposition of a rectangular matrix is a basic tool to understand the structure of the data and particularly the relationship between row and column factors. However, conventional singular value decomposition used the least squares method and is not robust to outliers. We propose a simple robust singular value decomposition algorithm based on the weighted least absolute deviation which is not sensitive to leverage points. Its implementation is easy and the computation time is reasonably low. Numerical results give the data structure and the outlying information.

Analysis on Trends of Machine Learning-as-a-Service

  • Lee, Yo-Seob
    • International Journal of Advanced Culture Technology
    • /
    • v.6 no.4
    • /
    • pp.303-308
    • /
    • 2018
  • Demand is increasing rapidly in recent years than supply to machine learning professionals. To alleviate this gap, user-friendly machine learning software that can be used by non-specialists has emerged, which is Machine Learning-as-a-Service(MLaaS). MLaaS provides services that enable businesses to easily leverage ML capabilities without expertise. In this paper, we will compare and analyze features, interfaces, supporting programming language, ML framework, and Machine Learning services of MLaaS, to help companies easily use ML service.