• Title/Summary/Keyword: stock trading

Search Result 291, Processing Time 0.023 seconds

Effect of Information Security Incident on Outcome of Investment by Type of Investors: Case of Personal Information Leakage Incident (정보보안사고가 투자주체별 투자성과에 미치는 영향: 개인정보유출사고 중심으로)

  • Eom, Jae-Ha;Kim, Min-Jeong
    • Journal of the Korea Institute of Information Security & Cryptology
    • /
    • v.26 no.2
    • /
    • pp.463-474
    • /
    • 2016
  • As IT environment has changed, paths of information security in financial environment which is based on IT have become more diverse and damage caused by information leakage has been more serious. Among security incidents, personal information leakage incident is liable to give the greatest damage. Personal information leakage incident is more serious than any other types of information leakage incidents in that it may lead to secondary damage. The purpose of this study is to find how much personal information leakage incident influences corporate value by analyzing 21 cases of personal information leakage incident for the last 15 years 1,899 listing firm through case research method and inferring investors' response of to personal information leakage incident surveying a change in transaction before and after personal information leakage incident. This study made a quantitative analysis of what influence personal information leakage incident has on outcome of investment by types of investors by classifying types of investors into foreign investors, private investors and institutional investors. This study is significant in that it helps improve awareness of importance of personal information security by providing data that personal information leakage incident can have a significant influence on outcome of investment as well as corporate value in Korea stock market.

A Study on the Long-Run Equilibrium Between KOSPI 200 Index Spot Market and Futures Market (분수공적분을 이용한 KOSPI200지수의 현.선물 장기균형관계검정)

  • Kim, Tae-Hyuk;Lim, Soon-Young;Park, Kap-Je
    • The Korean Journal of Financial Management
    • /
    • v.25 no.3
    • /
    • pp.111-130
    • /
    • 2008
  • This paper compares long term equilibrium relation of KOSPI 200 which is underling stock and its futures by using general method fractional cointegration instead of existing integer cointegration. Existence of integer cointegration between two price time series gives much wider information about long term equilibrium relation. These details grasp long term equilibrium relation of two price time series as well as reverting velocity to equilibrium by observing difference coefficient of error term when it renounces from equilibrium relation. The result of this study reveals existence of long term equilibrium relation between KOSPI200 and futures which follow fractional cointegration. Difference coefficient, d, of 'two price time series error term' satisfies 0 < d < 1/2 beside bandwidth parameter, m(173). It means two price time series follow stationary long memory process. This also means impulse effects to balance price of two price time series decrease gently within hyperbolic rate decay. It indicates reverting speed of error term is very low when it bolts from equilibrium. It implies to market maker, who is willing to make excess return with arbitrage trading and hedging risk using underling stock, how invest strategy should be changed. It also insinuates that information transition between KOSPI 200 Index market and futures market does not working efficiently.

  • PDF

Assessment of Carbon Sequestration Potential in Degraded and Non-Degraded Community Forests in Terai Region of Nepal

  • Joshi, Rajeev;Singh, Hukum;Chhetri, Ramesh;Yadav, Karan
    • Journal of Forest and Environmental Science
    • /
    • v.36 no.2
    • /
    • pp.113-121
    • /
    • 2020
  • This study was carried out in degraded and non-degraded community forests (CF) in the Terai region of Kanchanpur district, Nepal. A total of 63 concentric sample plots each of 500 ㎡ was laid in the inventory for estimating above and below-ground biomass of forests by using systematic random sampling with a sampling intensity of 0.5%. Mallotus philippinensis and Shorea robusta were the most dominant species in degraded and non-degraded CF accounting Importance Value Index (I.V.I) of 97.16 and 178.49, respectively. Above-ground tree biomass carbon in degraded and non-degraded community forests was 74.64±16.34 t ha-1 and 163.12±20.23 t ha-1, respectively. Soil carbon sequestration in degraded and non-degraded community forests was 42.55±3.10 t ha-1 and 54.21±3.59 t ha-1, respectively. Hence, the estimated total carbon stock was 152.68±22.95 t ha-1 and 301.08±27.07 t ha-1 in degraded and non-degraded community forests, respectively. It was found that the carbon sequestration in the non-degraded community forest was 1.97 times higher than in the degraded community forest. CO2 equivalent in degraded and non-degraded community forests was 553 t ha-1 and 1105 t ha-1, respectively. Statistical analysis showed a significant difference between degraded and non-degraded community forests in terms of its total biomass and carbon sequestration potential (p<0.05). Studies indicate that the community forest has huge potential and can reward economic benefits from carbon trading to benefit from the REDD+/CDM mechanism by promoting the sustainable conservation of community forests.

Using genetic algorithms to develop volatility index-assisted hierarchical portfolio optimization (변동성 지수기반 유전자 알고리즘을 활용한 계층구조 포트폴리오 최적화에 관한 연구)

  • Byun, Hyun-Woo;Song, Chi-Woo;Han, Sung-Kwon;Lee, Tae-Kyu;Oh, Kyong-Joo
    • Journal of the Korean Data and Information Science Society
    • /
    • v.20 no.6
    • /
    • pp.1049-1060
    • /
    • 2009
  • The expansion of volatility in Korean Stock Market made it more difficult for the individual to invest directly and increased the weight of indirect investment through a fund. The purpose of this study is to construct the EIF(enhanced index fund) model achieves an excessive return among several types of fund. For this purpose, this paper propose portfolio optimization model to manage an index fund by using GA(genetic algorithm), and apply the trading amount and the closing price of standard index to earn an excessive return add to index fund return. The result of the empirical analysis of this study suggested that the proposed model is well represented the trend of KOSPI 200 and the new investment strategies using this can make higher returns than Buy-and-Hold strategy by an index fund, if an appropriate number of stocks included.

  • PDF

An EPG Configuration Constructing Method and Structure for Dynamically Implementing Viewer Chosen EPG Configurations (시청자 선택 기반의 EPG 형상의 동적 구현을 위한 EPG형상 제작 방법과 구조)

  • Ko, Kwang-Il
    • Convergence Security Journal
    • /
    • v.11 no.4
    • /
    • pp.51-58
    • /
    • 2011
  • Due to the digital technology, the TV broadcasting platform is evolving to the digital-TV, which is supporting data broadcasting service. Although the data broadcasting services (i.e., games, wether information, stock trading service) provide rich entertainment to viewers, they make the operation manners of digital-TV so complex that some viewers feel difficulty in using their TV sets. Several researches have been performed to address the problem by improving the functions of EPG such as searching and reserving programs, applying gesture and voice recognition technologies to operating EPG, guiding the design of the EPG's user interface, and developing agents helping EPG to behave intelligently. A research, however, that tries to address the problem that viewers have different familiarities with IT services has not been performed yet. The paper tackles the problem by letting a viewer to choose an EPG configuration (among the several EPG configurations provided by a broadcasting network) and designing an EPG that implements an EPG configuration based on the choice.

Passwordless Protection for Private Key Using USIM Information (USIM 정보를 활용한 패스워드리스 방식의 개인키 보호 방안)

  • Kim, Seon-Joo
    • The Journal of the Korea Contents Association
    • /
    • v.17 no.6
    • /
    • pp.32-38
    • /
    • 2017
  • Despite the opinion that certificate is useless, half of the population in Korea (approx. 35 million) get an certificate, and use it for internet banking, internet shopping, stock trading, and so on. Most users store their certificates on a usb memory or smartphone, and certificates or passwords stored on such storage media can be easily attacked and used to disguise as legitimate users. Due to these security problem of certificate, a various authentication technologies has been proposed such as smartphone owner authentication using SMS, and a personal authentication using biometric authentication. However, a safe technique is not presented yet without user password, and certificate. In this paper, I proposed a method to secure certificate/private key without a user password using a combination of USIM card and smartphone's information. Even if a hacker gets the user password, the certificate, and the private key, he can not use the certificate. User do not need to remember complex password which is a combination of alphabetic / numeric / special characters, and use his certificate safely.

Management Method to Secure Private Key of PKI using One Time Password (OTP를 이용한 PKI 기반의 개인키 파일의 안전한 관리 방안)

  • Kim, Seon-Joo;Joe, In-June
    • The Journal of the Korea Contents Association
    • /
    • v.14 no.12
    • /
    • pp.565-573
    • /
    • 2014
  • We have various e-commerce like on-line banking, stock trading, shopping using a PC or SmartPhone. In e-commerce, two parties use the certificate for identification and non-repudiation but, the attack on the certificate user steadily has been increasing since 2005. The most of hacking is stealing the public certificate and private key files. After hacking, the stolen public certificate and private key file is used on e-commerce to fraud. Generally, the private key file is encrypted and saved only with the user's password, and an encrypted private key file can be used after decrypted with user password. If a password is exposed to hackers, hacker decrypt the encrypted private key file, and uses it. For this reason, the hacker attacks user equipment in a various way like installing Trojan's horse to take over the user's certificate and private key file. In this paper, I propose the management method to secure private key of PKI using One Time Password certification technique. As a result, even if the encrypted private key file is exposed outside, the user's private key is kept safely.

A Study of Short-term Won/Doller Exchange rate Prediction Model using Hidden Markov Model (은닉마아코프모델을 이용한 단기 원/달러 환율예측 모형 연구)

  • Jeon, Jin-Ho;Kim, Min-Soo
    • The Journal of the Institute of Internet, Broadcasting and Communication
    • /
    • v.12 no.5
    • /
    • pp.229-235
    • /
    • 2012
  • Forex trading participants, due to the intensified economic internationalization exchange risk avoidance measures are needed. In this research, Model suitable for estimation of time-series data, such as stock prices and exchange rates, through the concealment of HMM and estimate the short-term exchange rate forecasting model is applied to the prediction of the future. Estimated by applying the optimal model if the real exchange rate data for a certain period of the future will be able to predict the movement aspect of it. Alleged concealment of HMM. For the estimation of the model to accurately estimate the number of states of the model via Bayesian Information Criterion was confirmed as a model predictive aspect of physical exercise aspect and predict the movement of the two curves were similar.

A Study of Exchange rate Prediction Model using Model-based (모델기반 방법론을 이용한 환율예측 모형 연구)

  • Jeon, Jin-Ho;Moon, Seok-Hwan;Lee, Chae-Rin
    • Proceedings of the Korean Institute of Information and Commucation Sciences Conference
    • /
    • 2012.10a
    • /
    • pp.547-549
    • /
    • 2012
  • Forex trading participants, due to the intensified economic internationalization exchange risk avoidance measures are needed. In this research, Model suitable for estimation of time-series data, such as stock prices and exchange rates, through the concealment of HMM and estimate the short-term exchange rate forecasting model is applied to the prediction of the future. Estimated by applying the optimal model if the real exchange rate data for a certain period of the future will be able to predict the movement aspect of it. Alleged concealment of HMM. For the estimation of the model to accurately estimate the number of states of the model via Bayesian Information Criterion was confirmed as a model predictive aspect of physical exercise aspect and predict the movement of the two curves were similar.

  • PDF

Corporate Cash Flow Exposures to Foreign Exchange Rate and the Determinants : Korean Listed Non-financial Firms (현금흐름의 단기 환노출과 결정 요인에 관한 연구)

  • Kang, Won
    • The Korean Journal of Financial Management
    • /
    • v.26 no.3
    • /
    • pp.31-64
    • /
    • 2009
  • This article investigates the short-term cash flow exposures to Korea's major trading partners' currencies based on the kospi and kosdaq firm data from 2000 to 2008. The cash flow approach allows us to analyze the influence on operational performances of individual firm's hedging strategies. Taken all three foreign exchange rates together, more than 30% of the sample firms exhibit significant exposure. Given that the short-term cash flow is rather easy to hedge, the result proves a poor exchange rate risk management practices of Korean firms. Kosdaq firms are more exposed than Kospi firms. On the contrary to the previous researches using stock prices, the operational cash flows show a positive relationship with the value of foreign currencies. The exchange rate-firm sample further shows that the size and leverage affect the level of exposure.

  • PDF