• Title, Summary, Keyword: 이질성검증

Search Result 64, Processing Time 0.047 seconds

A Synthetic Model for Managing Market Risk of Financial Institutions (금융기관의 이자율, 환율, 주식수익률 변동위험에 대한 종합적 관리기법)

  • Kim, Tae-Hyuk
    • The Korean Journal of Financial Management
    • /
    • v.18 no.1
    • /
    • pp.107-128
    • /
    • 2001
  • 금융기관이 직면하는 시장위험관리와 관련된 연구는 이자율과 주식가격 변동위험, 또는 환율과 이자율 변동위험만을 고려한 자산배분모델이므로 그 모형의 정교성에도 불구하고 국제금융기관의 시장위험관리 모형으로 이용하기에는 부족한 점이 있다. 시장위험인 VAR를 측정하는 방법 중 포트폴리오 VAR 측정방법인 델타-노말 방법을 응용하여 금융기관이 시장위험을 종합적으로 관리하는 한편, 기대수익을 최대화시키는 자산-부채의 최적배분에 대한 모형을 유도할 수 있다. 본 논문은 포트폴리오 접근법을 이용하여 금융기관의 시장위험을 종합적으로 관리할 수 있는 모형을 개발하는 동시에 미국, 일본, 영국, 독일의 주요 금융자산의 가격변동자료를 바탕으로 실증적 분석을 시도하였다. 이론적 모형과 관련하여 국제금융기관이 시장위험을 통제하는 한편 목표수익을 달성하는데 필요한 $m_1$ 종류의 국내자산과 부채의 규모, $m_2$ 종류의 외화자산과 부채의 규모를 동시적으로 결정할 수 있는 모델을 개발하였다. 이 모형은 금융기관의 위험포지션과 목표수익이 변동함에 따라 재구성되어야 할 국내외 자산과 부채의 포트폴리오에 대한 종류와 규모를 구체적으로 파악할 수 있게 한다. 실증분석을 위해 미국에 본점을 두고 미국, 일본, 영국, 독일에서 영업활동을 하는 국제금융기관이 16개의 국내외 금융자산을 이용 가능한 것으로 가정하였다. 1995년 1월부터 1999년 6월까지 이들 금융자산의 월별자료와 각 국 통화의 대 U.S. 달러 환율을 이용하여 목표이익 10,000천 달러를 실현하는 한편 이자율과 환율 위험을 최소화시키는 자산, 부채의 적정구성에 관한 결과를 제시하였다.구의 성과로는 특정 투자자 집단이 주가의 움직임에 따라 매매를 하는 수동적 전략의 의미보다는 적극적으로 주가를 움직이는 주체로서 외국인투자자와 일부 기관투자자의 존재를 확인할 수 있었다는 점이며, 주가 움직임에 따른 개인투자자와 일부 기관 투자자의 수동적 매매 스타일과 기관투자자 사이의 투자스타일의 이질성을 통계적으로 확인할 수 있었다는 데에 있다.남아 각국과 우리나라간에는 주가변동에 시차가 없는 것으로 나타났다. 그러나 각국간 표준시차 및 거래소 거래시간을 고려하면 미국, 영국, 독일의 경우에도 그 시차는 1일이내이거나 거의 시차가 없는 것으로 판단된다. 발견되어 선물의 선도효과가 지배적임을 발견하였다.적 일정하게 하는 소비행동을 목표로 삼고 소비와 투자에 대한 의사결정을 내리고 있음이 실증분석을 통하여 밝혀졌다. 투자자들은 무위험 자산과 위험성 자산을 동시에 고려하여 포트폴리오를 구성하는 투자활동을 행동에 옮기고 있다.서, Loser포트폴리오를 매수보유하는 반전거래전략이 Winner포트폴리오를 매수보유하는 계속거래전략보다 적합한 전략임을 알 수 있었다. 다섯째, Loser포트폴리오와 Winner포트폴리오를 각각 투자대상종목으로써 매수보유한 반전거래전략과 계속거래 전략에 대한 유용성을 비교검증한 Loser포트폴리오와 Winner포트폴리오 각각의 1개월 평균초과수익률에 의하면, 반전거래전략의 Loser포트폴리오가 계속거래전략의 Winner포트폴리오보다 약 5배정도의 높은 1개월 평균초과수익률을 실현하였고, 반전거래전략의 유용성을 충분히 발휘하기 위하여 장단기의 투자기간을 설정할 경우에 6개월에서 36개월로 이동함에 따라 6개월부터 24개월까지는 초과수익률이 상승하지만,

  • PDF

Evaluation of Response Variability of Functionally Graded Material Beam with Varying Sectional Area due to Spatial Randomness in Elastic Modulus along Axial Direction (기능경사재료 변단면 보에서 축방향 탄성계수의 공간적 불확실성에 의한 응답변화도 평가)

  • Noh, Hyuk Chun
    • Journal of the Computational Structural Engineering Institute of Korea
    • /
    • v.27 no.3
    • /
    • pp.199-206
    • /
    • 2014
  • In this paper, a scheme to evaluate the response variability for functionally graded material (FGM) beam with varying sectional area is presented. The randomness is assumed to appear in a spatial domain along the beam axis in the elastic modulus. The functionally graded material categorized as composite materials, however without the drawbacks of delamination and occurrence of cracks due to abrupt change in material properties between layers in the conventional composite materials. The functionally graded material is produced by the gradual solidification through thickness direction, which endows continuous variation of material properties, which makes this material performs in a smooth way. However, due to difficulties in tailoring the gradients, to have uncertainty in material properties is unavoidable. The elastic modulus at the center section is assumed to be random in the spatial domain along the beam axis. Introducing random variables, defined in terms of stochastic integration, the first and second moments of responses are evaluated. The proposed scheme is verified by using the Monte Carlo simulation based on the random samples generated employing the spectral representation scheme. The response variability as a function of correlation distance, the effects of material and geometrical parameters on the response variability are investigated in detail. The efficiency of the proposed scheme is also addressed by comparing the analysis time of the proposed scheme and MCS.

Types of Retirement Satisfaction and Life Satisfaction among Middle and Older Adults: Focusing on Gender Differences (중고령자의 은퇴 만족 유형과 삶의 만족도 : 성별에 따른 차이를 중심으로)

  • Cho, Kyuyoung;Jun, Hey Jung;Lee, Eun Jee
    • Journal of the Korea Academia-Industrial cooperation Society
    • /
    • v.20 no.4
    • /
    • pp.371-381
    • /
    • 2019
  • This study explored how retirement satisfaction or dissatisfaction influences on retirees' life satisfaction, comparing to workers and the gender differences were examined. The study sample was 2,609 persons (1,886 workers, 723 retirees) aged 45 or older who participated in the 1-2 waves of the Korean Longitudinal Study of Ageing (KLoSA), and the retirees were classified into continuously dissatisfied retirees and satisfied retirees during wave 1 and 2. Using SPSS 21.0, the multiple regression models were examined, and in order to clarify the gender difference, the multi-group analysis and the wald-test were conducted to test the difference of the regression coefficients according to gender using Mplus 7.3. According to the results, the life satisfaction of dissatisfied retirees was lower than that of the employed, but when satisfied with retirement, the life satisfaction was higher than that of the employed. In addition, the dissatisfied retirees in both gender were less satisfied with life than the employed, and this effect was greater in female group. However, the life satisfaction of female satisfied with retirement was higher than that of the employed, whereas the evidence of the male influence was not found to be significant. Based on the results of this study, discussion about heterogeneity of retirees and gender differences in life span were presented.

Effects of Learning through Scratch-Based Game Programming on Students' Interest in and Perceived Value of Mathematics Curriculum (스크래치 활용 게임 프로그래밍 학습이 수학교과 흥미와 가치인식에 미치는 영향)

  • Song, JeongBeom
    • Journal of The Korean Association of Information Education
    • /
    • v.21 no.2
    • /
    • pp.199-208
    • /
    • 2017
  • The present study investigates the potential of an educational programming game as a strategy for enhancing effective domains of mathematics curriculum, which has been criticized as a problem of education in Korea. The process of programming Fortress, an educational game, in conjunction with the lesson on the trigonometric function as part of the middle school mathematics curriculum, was designed for instruction and learning, and its effectiveness was tested. The study was conducted using a nonequivalent pretest-posttest experimental design. Research procedures included the following steps: (1) both the experimental and the comparison groups participated in four classes to understand and apply the concept of the trigonometric function, and (2) the experimental group participated in Fortress game programming activities using Scratch, which was designed in this study, while the comparison group participated in solving a real-life trigonometric problem - calculating the height of a building using the concept of trigonometry. The results of the t-test showed that students' interest and perceived value of the mathematics curriculum were significantly higher in the experimental group than in the comparison group. However, the results of analysis of covariance (ANCOVA) using pretest scores of the interest and perceived value showed the influence of pretest scores on posttest scores for the interest level, although the effect of the experiment on the perceived value of the mathematics curriculum was more significant.

Spatial Estimation of the Site Index for Pinus densiplora using Kriging (크리깅을 이용한 소나무림 지위지수 공간분포 추정)

  • Kim, Kyoung-Min;Park, Key-Ho
    • Journal of Korean Society of Forest Science
    • /
    • v.102 no.4
    • /
    • pp.467-476
    • /
    • 2013
  • Site index information given from forest site map only exist in the sampled locations. In this study, site index for unsampled locations were estimated using kriging interpolation method which can interpolate values between point samples to generate a continuous surface. Site index of Pinus densiplora in Danyang area were calculated using Chapman-Richards model by plot unit. Then site index for unsampled locations were interpolated by theoretical variogram models and ordinary kriging. Also in order to assess parameter selection, cross-validation was performed by calculating mean error (ME), average standard error (ASE) and root mean square error (RMSE). In result, gaussian model was excluded because of the biggest relative nugget (37.40%). Then spherical model (16.80%) and exponential model (8.77%) were selected. Site index estimates of Pinus densiplora throughout the entire area in Danyang showed 4.39~19.53 based on exponential model, and 4.54~19.23 based on spherical model. By cross-validation, RMSE had almost no difference. But ME and ASE from spherical model were slightly lower than exponential model. Therefore site index prediction map from spherical model were finally selected. Average site index from site prediction map was 10.78. It can be expected that regional variance can be considered by site index prediction map in order to estimate forest biomass which has big spatial variance and eventually it is helpful to improve an accuracy of forest carbon estimation.

The Effect of the Learner's Creativity and Self-Efficacy on the Support Type of the Assistant Teacher in Robot Education (로봇교육에서 보조교사 지원 유형이 학습자의 창의성과 자기효능감에 미치는 영향)

  • Song, Jeong-Beom;Kwon, Oh-Sung;Koh, Byoung-Oh;Yang, Kwon-Woo;Shin, Soo-Bum
    • The Journal of Korean Association of Computer Education
    • /
    • v.14 no.1
    • /
    • pp.35-43
    • /
    • 2011
  • The purpose of this research is to confirm that how the support type of the assistant teacher changes the students' creativity and self-efficacy in the Robot Education, particularly Robot Edu-Camp. The study objects are 72 elementary students for 8 groups; each group has 9 students, and 4 groups of them have the assistant teachers and others are supported by giving some feedbacks for their questions or some information if they need. The assumption of this study sets up as in the following; there are no differences for the students' creativity and self-efficacy between the supporting of the assistant teachers with making robots and programing together and the giving feedbacks and information if students need. To verify this assumption, we use the nonequivalent control group in the pretest-posttest designs. The result is as in the following. There's no meaningful differences of the students' creativity by the support type of the assistant teachers. But in the self-efficacy, the groups which are giving feedbacks and information if they need have more higher level of achievement than others. The result shows that if the assistant teachers help the students directly, the students' levels of the self-direction, and control are low because they lean on the teachers. This will give you some implications to the follow-up studies about the support type of the assistant teachers in the Robot Education.

  • PDF

Unconventional Issues and Solutions in Developing IoT Applications (IoT 애플리케이션 개발에서 비전형적 이슈 및 솔루션)

  • Ra, Hyun Jung;Kim, Soo Dong
    • KIPS Transactions on Computer and Communication Systems
    • /
    • v.3 no.10
    • /
    • pp.337-350
    • /
    • 2014
  • Internet-of-Things(IoT) is the computing paradigm converged with different technologies, where diverse devices are connected via the wireless network, acquire environmental information from their equipped sensors, and are actuated. IoT applications provide smart services to users by interacting with multiple devices connected to the network. IoT devices provide the simple set of the information and also offer smart services by collaborating with other devices. That is, IoT applications always interact with IoT devices which are becoming very popular at a fast pace. However, due to this fact, developing IoT application results in unconventional technical challenges which have not been observed in typical software applications. Moreover, since IoT computing has its own characteristics which are distinguished from other former paradigms such as embedded computing and mobile computing, IoT applications also reveal their own technical challenges. Therefore, we analyze technical challenges occurring in developing IoT applications and present effective solutions to overcome the challenges. To verify identified issues and presented solutions, we present the result of performing a case study of developing an IoT application. Through the case study, we verify how the unconventional technical issues are raised in a real domain and analyze effectiveness of applying the solutions to the application.

Flexural Strength Evaluation of Steel Plate-Concrete Composite Beam using Bolted (절곡 강판을 볼트로 체결한 강판-콘크리트 합성보의 휨강도 평가)

  • Han, Myoung-Hwan;Choi, Byong-Jeong
    • Journal of the Korea Academia-Industrial cooperation Society
    • /
    • v.19 no.6
    • /
    • pp.126-136
    • /
    • 2018
  • A steel-plate concrete composite beam is composed of a steel plate, concrete and shear connector to combine inhomogeneous two materials. The steel plate is assembled by welding an existing composite beam. In this study, new steel-plate concrete composite beam, called a SPC Beam, was developed to reduce the shear connector and improve the workability. The SPC Beam was composed of folding steel plates and concrete, without a shear connector. The folding steel plate was assembled using high strength bolt instead of welding. To improve the workability in field construction, a hat-shaped Cap was attached to the junction with a slab. Monotonic load testing under two points was conducted under displacement control mode. The flexural strength of the specimen for positive moment and negative moment was calculated using the plastic stress distribution method. The test results showed that the flexural strength of the new SPC Beam had 80% of the strength of a complete composite beam. In addition, increasing the composite ratio was possible through clearance controls of the cap. In this study, the performance of the SPC Beam was verified through additional experiments and analyses with the cross-sectional shape and cap as variables, because the representative shape in the positive negative moment region is targeted.

A Study on the Development of Driving Simulator for Improvement of Unmanned Vehicle Remote Control (무인차량 원격주행제어 신뢰성 향상을 위한 통합 시뮬레이터 구축에 관한 연구)

  • Kang, Tae-Wan;Park, Ki-Hong;Kim, Joon-Won;Kim, Jae-Gwan;Park, Hyun-Chul;Kang, Chang-Keun
    • Journal of the Korea Academia-Industrial cooperation Society
    • /
    • v.20 no.6
    • /
    • pp.86-94
    • /
    • 2019
  • This paper describes the development of unmanned vehicle remote control system which is configured with steering and accelerating/braking hardware to improve the sense of reality and safety of control. Generally, in these case of the remote control system, a joystick-type device is used for steering and accelerating/braking control of unmanned vehicle in most cases. Other systems have been developing using simple steering wheel, but there is no function of that feedback the feeling of driving situation to users and it mostly doesn't include the accelerating/braking control hardware. The technology of feedback means that a reproducing the feeling of current driving situation through steering and accelerating/braking hardware when driving a vehicle in person. In addition to studying feedback technologies that reduce unfamiliarity in remote control of unmanned vehicles, it is necessary to develop the remote control system with hardware that can improve sense of reality. Therefore, in this study, the reliable remote control system is developed and required system specification is defined for applying force-feedback haptic control technology developed through previous research. The system consists of a steering-wheel module similar to a normal vehicle and an accelerating/braking pedal module with actuators to operate by feedback commands. In addition, the software environment configured by CAN communication to send feedback commands to each modules. To verify the reliability of the remote control system, the force-feedback haptic control algorithms developed through previous research were applied, to assess the behavior of the algorithms in each situation.

Pain Reduction Effects of Lidocaine Gel for Urethral Catheterization : A Systematic Review and Meta-Analysis (요도 카테터 삽입술에서 리도카인 윤활제의 통증 감소 효과 : 체계적 문헌고찰과 메타분석)

  • Hong, Hyun-Jung;Kim, Ga-Eun;Lee, Ha-Nee;Lee, A-Reum
    • Journal of the Korea Academia-Industrial cooperation Society
    • /
    • v.18 no.6
    • /
    • pp.438-448
    • /
    • 2017
  • This study was a systematic review and meta-analysis that evaluated the results of research on the pain reduction effects of lidocaine gel for urethral catheterization in adults. A literature search was conducted using seven electronic databases, gray literature and other resources based on the guidelines of Preferred Reporting Items for Systematic review and Meta-Analysis (PRISMA). A Risk of Bias (RoB) tool was applied to assess the quality of selected studies. Data were analyzed using the RevMan 5.3.-program. Sixteen randomized controlled trials involving 1904 adults were included. RoB was not observed in the funnel plot. Overall, lidocaine gel was effective for pain reduction during urethral catheterization (Standard Mean Difference[SMD] -0.96;95% CI: -1.43, -0.49). To explore the cause of heterogeneity (I2=95%, p<.001), subgroup analysis was conducted according to three catheter types (urinary catheter, flexible cystoscopy, and rigid cystoscopy) and the SMDs were -0.88 (95% CI:-1.51, -0.26), -0.31 (95% CI:-0.63, 0.01), and -1.93 (95% CI:-2.88, -0.97), respectively. A significant pain reduction effect was observed regardless of gender in urinary catheterization. However, in rigid cystoscopy, a significant pain reduction effect was observed only in male subjects. Pain reduction effects were observed when 10~11ml lidocaine gel was used during rigid cystoscopy and when lubrication was used during urinary catheterization, irrespective of application time. These findings suggest that lidocaine gel is a useful anesthetic lubricant for urinary catheterization and rigid cystoscopy in male adults.