• The Korean Journal of Financial Management
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• v.25 no.2
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• pp.69-101
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• 2008

We empirically investigate the option leverage property that should be priced under much more general conditions than the Black-Scholes assumptions and the option redundancy property that is based on the assumption that the underlying asset price follows a one-dimensional diffusion process and examine the systematic risk factors implied in the return dynamics of KOSPI 200 index options. We find that the option leverage pattern is similar to the theoretical result but the options are not redundant securities and in the nonlinear structure of option payoffs, the traders of KOSPI 200 index options price the systematic higher-moments and the negative volatility risk premium significantly affects delta-hedged gains, even after accounting for jump fears. But the empirical evidence on jump risk preference is less conclusive.

• The Korean Journal of Applied Statistics
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• v.26 no.1
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• pp.187-200
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• 2013

In this paper, we deal with the problem of deciding a hedging volatility for ATM plain options when we hedge those options based on geometric Brownian motion. For this, we study the relation between hedging volatility and hedge profit&loss(P&L) as well as perform Monte Carlo simulations and real data analysis to examine how differently hedge P&L is affected by the selection of hedging volatility. In conclusion, using a relatively low hedging volatility is found to be more favorable for hedge P&L when underlying asset prices are expected to be range bound; however, a relatively high volatility is found to be favorable when underlying asset prices are expected to move on a trend.

• Journal of Service Research and Studies
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• v.9 no.2
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• pp.77-88
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• 2019

Appropriation means the process of transforming resources to property. John Locke earlier investigated the appropriation process of natural resources into the land property, which grounded the jurisprudential base of the private ownership of the land. In the same way human resources are transformed into the human assets. Appropriation process, very rarely studied so far, in this case of human property is the focus of this paper. The appropriation of intangible property is by far easier than the appropriation of tangible property. Learning is a process of embodiment, which naturally mean the process of appropriation. For the material resources which exist out of human body, appropriation necessary need special philosophical and institutional justification. In the process appropriation for intangibles, investigator found, appropriator and learner either can be same, or can be differentiated. In the former case substantial human assets are created while in the latter relational human assets are built. After the discussion of appropriation process, Investigator proceeds to the problem of visualizing the invisibles. Evaluation and assessment issue were discussed in this perspective. Qualification system is particularly noted as a system to regulate substantial human assets including their issuing and registration. The work done in this paper would contribute in understanding the law of education and the law of qualification.

• Journal of the Korean Society for information Management
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• v.35 no.2
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• pp.7-36
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• 2018

The purpose of this study is to propose an effective direction of data linkage for building the humanities assets one-stop portal service. For this purpose, We collected and analyzed the actual status of the domestic institution with humanities assets, and presented the linkage direction through analysis of the data held by the target organization. The results of this study are as follows: First, we proposed a classification system of humanities assets based on the reviewing the existing classification system on the subject of humanities assets. Second, we set up the categories of potential data that can be incorporated into humanities assets through a detailed analysis of the subject and type of data held by the subject institutions. Third, we analyzed the platforms of similar case organizations providing one-stop portal services for humanities assets and proposed the applicable meta fields when constructing one-stop system based on similarity.

• Land and Housing Review
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• v.12 no.1
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• pp.165-175
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• 2021

A preliminary study was conducted to introduce the concept of asset management in developing maintenance strategies for public facilities. A survey was carried out to analyze public institutions' maintenance status, thereby leading to an asset management system. The survey identified the maintenance priorities for the asset management system, evaluated the weight factor in selecting facilities, and analyzed the current maintenance system. The purpose of the study is to assess the system transitioning to asset management systems considering the life cycle of the facilities from safety management-oriented maintenance policies. As a consequence of the survey results, the study presents data for establishing an asset management system.

• Korea Real Estate Review
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• v.27 no.3
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• pp.23-40
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• 2017

This study examined the motive and incentive for the disposal and purchase of corporate real estate assets based on the various firm characteristics. It was empirically found that firms with a higher leverage ratio, lower cash holdings, and lower sales growth are more likely to dispose of their real estate assets. This implies that financial constraints, internal reserves, and growth opportunities are important factors affecting the corporate decisions regarding the disposal of real estate assets. Meanwhile, it was found that firms with a lower leverage ratio have a higher probability of purchasing real estate assets, suggesting that a stable financial structure enables firms to acquire more of such assets. Using the transaction amount of corporate real estate assets, consistent results were found. While varied opinions on the utilization of corporate real estate assets have been raised, this study broadened the understanding of such by performing rigorous analyses. The result of this study would have practical implications in terms of the introduction of regulations or the establishment of business strategies related to corporate real estate assets.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.19 no.2
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• pp.228-237
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• 2018

The purpose of this study is to develop an index to measure regional creativity factors from previous research, as well as to empirically analyze the relationship between regional creativity and regional growth. We conduct panel analysis on the balanced panel data of regional creativity in fifteen Korean cities and provinces during 2008-2012. The result of hypothesis testing are as follows: First, amongst factors of regional creativity, sub-factors such as creative personnel and intangible asset (of the basic asset factor), creative enterprise (of the economic agent factor), and convergence and creative industries (of the core industry factor) showed significant influential relationships with GRDP (Gross Regional Domestic Product) as positive. Concerning the systemization factor, all sub-factors showed no significant relationship with GRDP. Second, amongst the factors, creative personnel (of the basic asset factor), start-up and entrepreneurship (of the systemization factor), creative enterprise (of the economic agent factor), the regional space factor, and convergence industry (of the core industry factor) showed significant positive relationships with employment rate. However, tangible and intangible creative asset (of the basic asset factor), convergence management and administration (of the systemization factor), Large/middle/small enterprises and central government/municipalities (of the economic agent factor), and creative industry (of the core industry factor) showed no significant relationship with employment rate. The results of this study will provide insight into the current situation for regional creativity, and review the process and short and long term performance. In addition, it will be a basic means to lead the central government's policy of strengthening local autonomy and decentralization.

• Journal of the Korean BIBLIA Society for library and Information Science
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• v.29 no.1
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• pp.73-97
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• 2018

The study is to make a development initiative for humanities and social assets one-stop portal services intended for researchers, thereby establishing long-term road map for Korean Research Memory(KRM) in National Research Foundation of Korea(NRF). The empirical studies conducted for this purpose are as follows: SWOT analysis of KRM's internal and external environment; Usability test for 90 graduate students; Focus group interview for 8 experts. The results of the studies are as follows. First, KRM needs to focus on the sustainability of information provision as well as the integration of research provision. Second, KRM needs to establish the strategy of acquisition for R&D products in quality. Third, KRM needs to be the hub of humanities and social assets and social network platform for researchers. Forth, KRM needs to develop education service for lay users as well as research services for professional researchers.

• Electronics and Telecommunications Trends
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• v.15 no.3 s.63
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• pp.73-90
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• 2000

현대 지식조직의 생산원리를 이해하기 위해서는 무형의 지적자산에 대한 인식이 필수적이며, 그 생성 및 성장의 메커니즘에 대한 올바른 이해를 바탕으로 지식조직에 적합한 조직운영의 재설계가 가능하다. 본 고는 최근까지 소개된 지적자산의 측정과 관리에 관한 여러 연구결과를 종합.정리해봄으로써 지식조직의 경영전략 모색을 위한 기초를 제공하고자 한다.

• Proceedings of the Safety Management and Science Conference
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• 2008.11a
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• pp.69-73
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• 2008

본 연구에서는 소비자들이 선호하는 휴대폰 제조사 브랜드를 평가하기 위하여 무형 자산 평가기법을 적용하여 비교 분석 하였다. 기존의 연구는 기초적인 통계적 사실에 근거하여 단편적으로 평가를 하였다. 하지만 휴대폰 제조사 선호도 평가는 무형자산 평가와 깊은 관련이 있다. 따라서 본 연구에서는 기존 연구와는 다르게 무형자산 평가기법을 적용하여 휴대폰 제조사 브랜드 선호도를 평가하고자 한다.