• Journal of the Korea Academia-Industrial cooperation Society
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• v.18 no.9
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• pp.251-257
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• 2017

Private banking, which is a part of the financial services industry, is an investment advisory business targeting high-net-worth individuals (HNWIs). The demand for asset management services, which isexpanding in the world market as well as in the Asia-Pacific region, is rapidly increasing in Korea as the low-growth, low-interest environment has stabilized. In Korea, the private banking business is ahead of growth, and the evaluation and compensation system of playing institutions remains a challenge. While the aging of the population increases the demand for services, the increasing competition and regulations have decreased the profit margins in the industry. In this paper, a business model is derived from a professional service quality model. Modular advisory services, value-proposition through sophisticated services, and investment expertise with increased clarity would help wealth management firms pursue their opportunities. By interviewing the experts of wealth management banks, this study constructsa business model with elements derived from a relevant literature review. The contribution of this research is to enable these institutions to understand the key factors affecting their financial performances, in order to improve them. This study is limited by one of the research models, and it will be necessary to conduct an empirical test in the future.

• Journal of the Korea Institute of Building Construction
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• v.16 no.5
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• pp.463-470
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• 2016

Construction companies calculate their revenues and costs from constructing activities using the 'Percentage of Completion Method', which is based on ratio of actual construction cost to total costs estimated. The reliability of the net profit of construction companies is being evaluated lower than other industries due to incorrect application of 'Percentage of Completion Method' to cover losses actually occurred. Therefore, the purpose of this study is to verify the quality of earnings calculated based on 'Percentage of Completion Method' in terms of information usefulness. Results from empirical analysis show that investors in stock market underestimate the value of the construction companies' earning information by applying 'Percentage of Completion Method' and not actively use in investment decision making. Accordingly, it has been confirmed that the association between income information and stock prices falling. These results suggest the need for strict supervision of the supervisory authorities and the practical application of 'Percentage of Completion Method' in reliability.

• Journal of Digital Convergence
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• v.14 no.12
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• pp.13-25
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• 2016

This paper analyses the impacts of the characteristics of policyholder and contract on the lapse of Voluntarily Insured Person in National Pension, using the recent lapse data from National Pension Service. The logistic regression model is used in examining lapse odds with several independent variables. The result demonstrates several hypotheses of the lapse behaviors. First, the lapse odds of men is lower than that of women. Second, the effect of age on lapse odds shows concave shave with the peak at 37. Third, insured period has a negative effect on lapse odds in entrants sample. Fourth, standard monthly income has little effect on lapse in either sample. Fifth, the lapse odds decreases as the expected benefit ratio increases. Sixth, 2013 pension bill resulted in the sharp increase of lapse odds and the effect was greater for entrants. Last but not least, spatial environment such as residence also affects the lapse behavior.

• The Journal of the Convergence on Culture Technology
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• v.4 no.4
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• pp.201-206
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• 2018

The fourth fiscal estimate of the national pension following the aging of the population and falling yields estimated that the fund ran out in 2057, three years earlier than the third fiscal calculation. Accordingly, the government proposed a plan to immediately raise the insurance premium rate by 2 percent and maintain the income replacement rate by 45 percent, and to reduce the income replacement rate by 40 percent in 2028. In this form, increasing premiums and reducing income replacement rates will allow younger generations to sign up differently from existing subscribers, who previously had higher income replacement rates at lower rates. Therefore, the study aims to ease the burden on the elderly and younger by applying different insurance rates and income replacement rates for different ages.

• Journal of Convergence for Information Technology
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• v.11 no.1
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• pp.28-33
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• 2021

Since the stock price is a measure of the future value of the company, when analyzing the stock price, the company's growth potential, such as sales and profits, is considered and invested in stocks. In order to set the criteria for selecting stocks, institutional investors look at current industry trends and macroeconomic indicators, first select relevant fields that can grow, then select related companies, analyze them, set a target price, then buy, and sell when the target price is reached. Stock trading is carried out in the same way. However, general individual investors do not have any knowledge of investment, and invest in items recommended by experts or acquaintances without analysis of financial statements or growth potential of the company, which is lower in terms of return than institutional investors and foreign investors. Therefore, in this study, we propose a research method to select undervalued stocks by analyzing ROE, an indicator that considers the growth potential of a company, such as sales and profits, and predict the stock price flow of the selected stock through deep learning algorithms. This study is conducted to help with investment.

• Journal of the Korean Data and Information Science Society
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• v.28 no.6
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• pp.1481-1500
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• 2017

This study examines the stability and excellence of portfolio investment strategies based on the accounting information of the Korean stock market. In the process of constructing the portfolio, various combinations of financial ratios are used to select the stocks with high expected return and to measure their performance. We also tried to improve our investment performance by using genetic algorithm optimization. The results of this study show that portfolio strategies using accounting information are effective for investment decision making and can achieve high investment performance. We also verify that portfolio strategy using genetic algorithms can be effective for investment decision making.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.18 no.5
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• pp.543-548
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• 2017

This paper examines the effects of strong corporate governance for listed companies in accessing capital markets from the point of view of the weighted average cost of capital. Results found that corporate governance had a significant negative(-) relation to the weighted average cost of capital. This finding is consistent with previous research and implies that the higher shareholder ownership and foreign ownership have confidence in the financial information of the company, and therefore, risk is reduced for investors. This results in lower expected rates of return and companies will pay a lower cost of capital. Second, tax evasion had a positive effect(+) on the weighted average cost of capital. The low quality of corporate accounting information is expected to increase tax avoidance. Accordingly, this results in increased risk. If the required rate of return is high in its impact,it leads to increased capital costs. In addition, corporate governance and tax avoidance factors showed a negative affect (-) on the weighted average cost of capital. Corporate governance plays an important role in tax avoidance and the weighted average cost of capital, and strong corporate governance reducesthe impact on tax avoidance. In addition, the weighted average cost of capital in capital markets showed the reducing effect.

• Journal of Korea Port Economic Association
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• v.26 no.4
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• pp.188-206
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• 2010

Data Envelopment Analysis(DEA) is an operations research-based method for measuring the performance efficiency of decision units that are characterized by multiple inputs and outputs. DEA has been applied successfully as a performance evaluation tool in many fields. However, it has not been extensively applied in the shipbuilding industry. This paper applied the input-oriented DEA model, and Malmquist indices to the 7 shipbuilding firms to measure the efficiency and productivity changes during the period of 2004 to 2009. The Malmquist indices will be decomposed into three components such as pure efficiency change, scale efficiency change, and technical change. The empirical results show the following findings. First, the DEA findings indicate that main source of inefficiency is scale rather than pure technical. Second, the Malmquist indices show that an overall decrease in productivity.

• Korean Journal of Social Welfare
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• v.58 no.3
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• pp.295-312
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• 2006

The use of the national pension funds to welfare has been criticized due to its low profitability, with concern about financial instability and the lack of funds. Despite the small amount of the funds employed to the welfare, therefore, it has been decreasing so far. It is resulted from the fact that the use of funds to the welfare sector failed to provide its valid reasons, and take the policy direction firmly. There are three main logical reasons for the welfare investment of national pension funds: Firstly, no state is capable to take the full responsibility for the entire social welfare, and therefore, the funds can be used for social welfare. Secondly, the funded system, contrasted with the case of pay-as-you-go system, has inevitably caused discriminations to the present elderly through excluding them institutionally from pension participation. At last, so as to its selective system, the minimum contribution period of 10 years brings about the equity problem between the people who can afford it and the people who hardly can. Therefore, investing a proportion of funds to the welfare is entirely reasonable in that it can alleviate the discriminations to the present elderly generation and the marginal participants, rather than to meet their social welfare needs. With regard to the policy decision, the profitability of the investment, and the choice of the welfare work, on the other hand, the policy direction should be given a sufficient consideration of a various policy factors such as the necessity of social consensus, independence of the welfare work in relations with other national welfare work, policy identity to judge whether the work is worth long-run or short-run, and the reliance of direct-operated work and indirect-operated work. As a result of all these efforts above mentioned, an investment to the welfare of the national pension funds could be vitalized, and gain public confidence.

• Journal of the Korean Society of Food Science and Nutrition
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• v.36 no.1
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• pp.14-19
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• 2007

This study was conducted to analyze the antioxidant activity and xanthine oxidase inhibitory effect of hot-water extracts from Elaeagnus multiflora Thunb. to provide fundamental data for the development of functional materials. The antioxidative activities of hot-water extracts from E. multiflora Thunb. were analyzed by electron donating ability (EDA) using 1,1-diphenyl-2-picryl hydrazyl (DPPH), superoxide dismutase (SOD) -like activity by pyrogallol and nitrite scavenging ability. EDA of extracts from unripe, ripe, and overripe fruits were 77.7%, 36.0%, and 23.7% at 100 ${\mu}g/mL$, respectively, and EDA of extract in unripe fruits was higher than those of others. At 1,000 $\mu$g/mL, the SOD-like activities were 32.8%, 11.2% and 5.0% for unripe, ripe, and overripe fruits, respectively. The SOD-like activity was increased along with the increase of unripe and ripe extract concentrations. The nitrite scavenging ability of unripe fruit extracts in 100, 300, 500 ${\mu}g/mL$ of extraction solution in pH 1.2 and 3.0 was higher than those of others. The nitrate scavenging ability of all extracts was decreased according to the increase of pH. Xanthine oxidase inhibitory activities of unripe, ripe and overripe fruits were 30.0%, 28.2%, and 18.2% at 1,000 ${\mu}g/mL$, respectively.