• Title/Summary/Keyword: securities

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Pricing of Derivative Securities Using Artificial Neural Network (파생 금융 상품의 가격 결정을 위한 인공 신경망 기법의 이용)

  • 조희연;양진설
    • Journal of Intelligence and Information Systems
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    • v.3 no.1
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    • pp.1-12
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    • 1997
  • 파생금융상품이란 주식이나 채권과 같은 기준자산에 대해서 발행되는 2차 금융상품으로써 기존의 재무이론에서는 수리적 모형에 기반을 둔 가격결정모형을 이용하여 가치를 평가하였다. 그러나 이러한 전통적인 가격결정모형은 복잡한 현실세계를 단순화시키기 위한 제반 가정을 요구하기 때문에 이러한 가정이 현실에 부적합한 경우에는 모형가격이 실제가격으로부터 커다란 괴리를 갖게 된다. 본 연구에서는 전통적인 가격결정방법의 단점을 극복할 수 있는 자료 의존적인 인공신경망기법을 제시하고 대표적인 파생금융상품인 국내 전환사채의 가격결정에 적용해 봄으로써 그 가능성을 제시하였다. 인공신경망기법을 전환사채의 가격결정에 적용한 결과 전통적 가격결정방법에 비해 평균절대오차를 70%정도 줄일 수 있다.

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A Study on the Efficient Education and Management of Merchant Marine Officers (고급해기사의 효율적 양성 및 관리방안 연구)

  • 이규성
    • Journal of the Korean Institute of Navigation
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    • v.23 no.1
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    • pp.45-64
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    • 1999
  • With the advent of the 21th century, Korea surrounded by the three sides of the sea has been underlining the fact that it will become one of the strongest maritime powers near future as ever in the past. The study shows that in order to build up Korea as a powerful maritime country, not only should we urge its government to take more in-depth political interest in the field of the shipping industry, but the effective training and the managing program for sea-farers employing in th forefront of the shipping business(as the centric panel of the competent merchant marine officers) also have to be taken into a sufficient consideration. According to the large scale, higher speed and automatization of vessels, a number of seamen who have so well-workable brain as to dexterously operate the up-dated scientific equipments have come into be demanded. This study therefore has not only suggested that an improvement for the system of the education for merchant marine officers and the effective scheme of the management on them, but especially underlined the problems of seamen' and their families' economic and social securities as well.

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Implementation of Unified Communication system by web based (웹기반 통합커뮤니케이션 시스템 구현)

  • Min, Byoung-won;Oh, Yong-sun;Lim, Soo-nam
    • Proceedings of the Korea Contents Association Conference
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    • 2009.05a
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    • pp.802-806
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    • 2009
  • If I was proposed, and it combines with a module regarding modular an integrated communication existing communications of a system, supply of a product is possible, and a level more excellent quality of leading foreign company products such as MS, ADOBE, becomes expectation in performance of a product and quality so that securities and import substitution are effective against price competitive power to excel you in it to products developed by technology domestic purity

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Enhanced Multi-Hop Routing Protocol using RSS in Sensor Network (센서 네트워크에서의 RSS(Received Signal Strength)를 이용한 향상된 멀티-홉 라우팅 프로토콜)

  • Lee, Min-Goo;Kang, Jung-Hoon;Yoo, Jun-Jae;Yoon, Myung-Hyun
    • Proceedings of the KIEE Conference
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    • 2005.05a
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    • pp.206-208
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    • 2005
  • Wireless sensor network's value has increased greatly in recent years in the fields of Ubiquitous Computing that function as solution to reduce both the limitation and collision about RFID Technology. The research for wireless sensor network technology is proceeding with the research for various sensor nodes, powerful routing algorithms, securities for data transmission, and valid applications. This paper suggests that we make the new multi-hop routing algorithm using RSS in order to implement enhanced multi-hop routing algorithm. This paper should demonstrate that the routing algorithm using suggested RSS is superior to routing algorithm based on established BSDV(Destination Sequenced Distance Vector).

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Loyalty of On-line Stock Trading Customers (온라인 증권거래 고객의 충성도)

  • Lee Min-Hwa
    • The Journal of Information Systems
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    • v.14 no.2
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    • pp.155-172
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    • 2005
  • Securities companies which faced with severe competition should not only attract new customers but also retain their on-line customers. This study examines the factors affecting loyalty of on-line stock trading customers. The research model based on the previous studies was established and the research hypotheses were generated. The test results based on the data gathered from 87 users of on-line stock trading services show that user satisfaction, learning cost, transaction fees, and reputation influence customer loyalty. User satisfaction, learning cost and reputation are positively related to customer loyalty, whereas transaction fee is negatively related to customer loyalty. The results also support that information quality and system quality are positively related to user satisfaction. The hypothesis that transaction fee is related to user satisfaction is not supported. There is no significant information to say that security risk is related to user satisfaction. It is considered that the study results may help managers to increase customer retention.

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Analysis of the Impact of Mobile Office Technology on Organizational Collaboration

  • Cho, Namjae;Yoon, Joongsik;Park, Songmyung
    • Journal of Information Technology Applications and Management
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    • v.22 no.1
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    • pp.95-107
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    • 2015
  • The rapid deployment of smart mobile equipments such as mobile phones and mobile note pads is considered a driving force to change several aspects of today's work life in organizations. Among all, this paper focuses on organizational collaboration as collaboration is a key aspect of organizational performance and success and is considered to be affected by digitally mediated communication. A questionnaire survey was performed to analyze the impact of the use of modern mobile office technology on productivity increase under the context of organizational collaboration. Some specific functions of mobile office technology were found to significantly affect the productivity. In addition, different requirements for desired collaboration were found to be associated with the use of different functions of mobile office technology and different situational use of the technology. Organizational and technical implications of the findings are discussed.

A Study on the Determination Information of Cash holdings in Korean Export-Oriented Companies (한국의 수출지향형 기업에서 현금유동성 결정정보에 관한 연구)

  • Kim, Jong-Taek;Shin, Yeon-Soo;Shin, Yong-Jae
    • International Commerce and Information Review
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    • v.11 no.1
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    • pp.157-176
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    • 2009
  • This study analyzed the information factors which determine cash liquidity in Korean export-oriented companies. In this paper, cash liquidity means the ratio of the value of cash or cash equivalent to the asset value subtracted marketable securities value from total asset value. The empirical test shows that main information factors are the size of company, the growth opportunity of company, the volatility of operating cash flows and free cash flows, the credit yield spread of company, the debt ratio, the turnover ratio of cash flows and free cash flows, and the estimate of bankruptcy that amounts to the inverse number of Z score. In summary, the size of company, debt ratio, turnover ratio of cash flows and free cash flows, and Z-score have negative influence on the cash liquidity of Korean export-oriented companies. but the volatility of operating cash flows affect the cash liquidity positively.

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Structural Breaks in the Securities markets (자본시장과 구조변화)

  • Rhee, Il-King
    • The Korean Journal of Financial Management
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    • v.19 no.1
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    • pp.1-32
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    • 2002
  • 한국 종합주가지수는 한국증권거래소에 상장된 모든 기업들의 가치 가중치에 의한 포트폴리오의 가격의 시계열이라고 할 수 있다. 따라서 이 지수는 한국 경제의 현재의 활동과 미래의 활동에 대한 예상의 총합의 반영 또는 표상을 표현하는 정보라 할 수 있다. 본 논문에서는 시차변수가 독립변수로 도입될 수도 있으며, 시차변수가 아닌 변수가 독립변수로 도입되는 것이 허용되는 회귀모형을 통하여 구조변화의 회수와 구조변환점을 검정할 수 있는 통계량과 이 통계량의 확률분포를 분석하고 한국 종합주가지수에 적용하여 한국 종합주가 지수의 일별수익률에 구조변화가 발생하였는지의 여부와 발생했다면 발생회수와 변환점들을 발견하는데 그 목적이 있다. 한국 종합주가지수의 일별수익률은 분산의 변화 그리고 평균 및 분산의 동시변화가 1997년 9월 27일에 발생하였다. 자기회귀모형에 의할 때 증권시장의 구조변화는 1999년 11월 16일에 이루어졌다. 평균과 분산의 변화가 일어나 구조변화의 단계를 시작하고 구조변화에 알맞는 환경조성에 2년이 소요된 후에 1999년 11월 16일에 구조변화가 정착되었다. 정착이 이루어진 후에야 비로서 이 두 기간은 서로 다른 경제구조와 증권시장구조가 이루어지고 이에 입각하여 시장의 새로운 운동법칙이 전개되고 있다고 할 수 있을 것이다.

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Information, trading and stock returns: Lessons from dually-listed securities

  • Chan, K.C.;Fong Wai-Ming;Kho, Bong-Chan,;Stulz Rene M.
    • The Korean Journal of Financial Studies
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    • v.2 no.2
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    • pp.221-256
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    • 1995
  • This paper compares the intra-day patterns on the NYSE and AMEX of volatility, trading volume and bid-ask spreads for European and Japanese dually-listed stocks with American stocks of comparable average trading volume and volatility. It is shown that the intra-day patterns for these stocks are remarkably similar even though public information flows differ markedly across these stocks during the trading day. In the early morning, all stocks have higher volatility than later in the day, but this phenomenon is most pronounced for Japanese stocks and affects American stocks the least. We argue that these patterns are consistent with markets reacting to the overnight accumulation of public information but are inconsistent with the view that early morning volatility can be attributed to monopolistic specialist behavior.

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Fast Detection of Copy-Move Forgery Image using DCT

  • Shin, Yong-Dal
    • Journal of Korea Multimedia Society
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    • v.16 no.4
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    • pp.411-417
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    • 2013
  • In this paper, we proposed a fast detection method of copy-move forgery image based on low frequency coefficients of the DCT coefficients. We proposed a new matching criterion of copy-moved forgery image detection (MCD) using discrete cosine transform. For each $8{\times}8$ pixel block, the DCT transform is calculated. Our algorithm uses low frequency four (DC, 3 AC coefficient) and six coefficients (DC, 5 AC coefficients) of DCT per $8{\times}8$ pixel block. Our algorithm worked block matching for DCT coefficients of the $8{\times}8$ pixel block is slid by one pixel along the image from the upper left corner to the lower right corner. Our algorithm can reduce computational complexity more than conventional copy moved forgery detection algorithms.