• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.1
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• pp.29-43
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• 2022

This study measures the realized rate of return of venture capital(VC) fund at the level of investment agreement(as opposed to fund level returns reported by most of the relevant studies). It also measures the stock price return of the VC's portfolio firms (unlisted start-ups) at firm level(as opposed to fund returns) and its variance for the first time using unique data of the VC funds held by the Korean Venture Capital Association. Results of the analysis confirm that VC fund returns exceed individual stock price returns. Additionally, it is confirmed that VC portfolio firms exhibit a positive relationship between risk and return measured by total risk. Finally, we find that stock price returns at firm level are lower than that implied by the associated levels of risk. Consequently, this may make individual investors hesitate to directly buy unlisted startups' stocks even when investment in individual startup companies guarantees high risk-high returns relationship.

• Journal of Korean Society of Transportation
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• v.22 no.1 s.72
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• pp.63-72
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• 2004

In conducting traffic safety programs, it is very important to identify hazardous sites in appropriate manner. The rate qualify control method is generally used in identifying hazardous sites since it can interpret the sites in the statistic aspects. The rate qualify control method is based on the assumption that the occurrences of traffic crashes follow the Poisson's distribution in which the expected value of traffic crashes equals the variance of those. However, there is greater variability than expected statistically, we call this phenomenon over dispersion. This study analyzed the problem related to the rate quality control method under the over dispersed data, and established a methodology to solve the problem. As a result of test on the basis of the field data, the new approach produced more reasonable results than those of the Poisson based rate quality control method.

• The Korean Journal of Applied Statistics
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• v.19 no.3
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• pp.481-504
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• 2006

VaR, a tail-related risk measure is now widely used as a tool for a measurement and a management of financial risks. For more accurate measurement of VaR, recently we are particularly concerned about the approach based on extreme value theory rather than the traditional method based on the assumption of normal distribution. However, many studies about the approaches using extreme value theory was done only for the univariate case. In this paper, we discuss portfolio risk measurements with modelling multivariate extreme value distributions by combining copulas and extreme value theory. We also discuss the estimation of ES together with VaR as portfolio risk measures. Finally, we investigate the relative superiority of EVT-copula approach than variance-covariance method through the back-testing of an empirical data.

• Journal of the Korean Society for Aviation and Aeronautics
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• v.19 no.1
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• pp.49-57
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• 2011

This paper concentrate on the passengers' perception of risks by analyzing data gathered through a field survey in the South Korean air market. Twenty two Koreans were killed in the accident of PMT Air in the Kingdom of Cambodia on June 25th 2007 and This has caused customers to be more concerned about the safety of airline. Three hundred forty-two samples were collected from field survey at Kimpo International Airport in Seoul and Jeju International Airport on Jeju island and the findings are based on 316 questionnaires. The multiple regression analysis, Analysis of variance (ANOVA), Correlation analysis, T-test were carried out to examine the effect, relationship and difference of data set. The results show that there are differences between passengers' perceived risks in LCC's and those in FSC's. Passengers of LCC's took serious consideration of the type of fleet and feeling physical risk, whereas those of FSC's only took consideration of financial risk.

• Journal of Industrial Convergence
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• v.21 no.1
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• pp.95-102
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• 2023

This study was to identify the factors affecting nurses' use intention of digital healthcare and the moderating effect of clinical career based on the UTAUT model. The items were composed by performance expectancy 3 items, facilitation condition 3tiems, and perceived risk 3 items. CFA was performed to verify the construct validity. As a results, average variance extracted (AVE) was .5 or higher, and construct reliability (CR) was .7 or higher. Model fit was confirmed as CMIN/df=1.797, GFI=.955, CFI=.979, TLI=.968, IFI=.979, and RMSEA=.063. The internal reliability was .93 for performance expectancy, .84 for facilitating conditions, and .64 for perceived risk. Performance expectancy, facilitating condition, and perceived risk had a significant effect on use intention, and clinical career showed a moderating effect(t=-2.159, p=.032). Therefore, in order to enhance the use intention of digital health care, performance expectancy, and facilitating conditions should be raised and perceived risk should be reduced.

• The Korean Journal of Financial Management
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• v.27 no.2
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• pp.169-204
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• 2010

This paper examines the dynamic relationship between fund flow and market risk at the aggregate level and explores whether sudden sharp changes in fund flow (fund run) can cause a systemic risk in the Korean financial markets. We use daily and weekly data and regression and VAR analysis. Main results of the paper are as follows: First, in the stock market, a concurrent and a lagged unexpected fund flows have a positive relationship with market volatility. A positive shock in fund flow predicts an increase in stock market volatility. In the bond market, an unexpected fund flow has a negative relationship with the default risk premium, but a positive relationship with the term premium. And an unexpected fund flow of the money market fund has a negative relationship with the liquidy risk, but the explanatory power is very low. Second, for examining whether changes in fund flow induce a systemic risk, we construct a spillover index based on the forecast error variance decomposition of VAR model. A spillover index represents that how much the shock in fund flow can explain the change of market risk in a market. In general, explanatory powers from spillover indexes are so fluctuant and low. In the stock market, the impact of shocks in fund flow on market risk is relatively high and persistent during the period from the end of 2007 to 2008, which is the subprime-mortgage crisis period. In bond market, since the end of 2008, the impact of shocks in fund flow spreads to default risk continually, while in the money market, such a systematic effect doesn't take place. The persistent patterns of spillover effect appearing around a certain period in the stock market and the bond market suggest that the shock to the unexpected fund flow may increase the market risk and can be a cause of systemic risk in the financial markets. However, summarizing the results of regression and VAR model analysis, and considering the very low explanatory power of spillover index analysis, we can conclude that changes in fund flow have a very limited power in explaining changes in market risk and it is not very likely to induce the systemic risk by a fund run in the Korean financial markets.

• The Journal of Korea Institute of Information, Electronics, and Communication Technology
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• v.11 no.1
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• pp.70-75
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• 2018

Smart Factory is an intelligent factory that can enhance productivity, quality, customer satisfaction, etc. by applying information and communications technology to the entire production process including design & development, manufacture, and distribution & logistics. The precise amount of data generated in a smart factory varies depending on the factory's size and state of facilities. Regardless, it would be difficult to apply traditional production management systems to a smart factory environment, as it generates vast amounts of data. For this reason, the need for a distributed big-data processing system has risen, which can process a large amount of data. Therefore, this article has designed a Gluster File System (GlusterFS)-based distributed big-data processing system that can be used in a smart factory environment. Compared to existing distributed processing systems, the proposed distributed big-data processing system reduces the system load and the risk of data loss through the distribution and management of network traffic.

• Journal of the Korea Institute of Information Security & Cryptology
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• v.25 no.4
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• pp.839-847
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• 2015

To seamlessly provide content through the Internet, it is generally considered to use distributed processing for content requests converged on original content providers like P2P, CDN, and ICN. That is, after other nodes temporally save content, they handle content requests instead of original content providers. However, in this case, it may be possible that a content sender is different from the original provider of the content. In this case, users may be exposed to various risks. To solve such a problem, it is highly recommended to verify received contents before using them, but it can cause network traffic increases as well as a serious service delay. This paper proposes an efficient content verification scheme for distributed networking/data store environments and analyzes its performance.

• Proceedings of the Korea Water Resources Association Conference
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• 2015.05a
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• pp.75-75
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• 2015

오염원과 취수장이 동일 구간 내에 공존하는 국내하천의 특성상, 하천 평면 내에서 오염물의 거동 및 혼합 특성을 보다 정확하게 해석하기 위해서는 2차원 이송-분산 모형의 적용이 필요하다. 이를 위해서는 2차원 모형의 주요 매개변수인 종분산계수와 횡분산계수의 적절한 입력이 매우 중요하다. 하지만 국내외적으로 횡분산계수에 대한 연구는 많이 진행된 반면, 현재까지 종분산계수에 대한 연구는 충분히 이루어지지 않은 실정이다. 분산계수를 결정하는 방법에는 실측된 농도 자료의 유무에 따라 크게 두 가지로 분류된다. 실측된 농도 자료가 없는 경우, 이론식이나 경험식을 이용하는 방법이 있다. 반면에 추적자 실험 등을 수행하여 실측된 농도 자료가 있는 경우, 모멘트법 또는 추적법을 적용하여 농도-시간 분포 곡선으로부터 분산계수를 계산하는 것이다. 모멘트법은 임의 지점에서 농도의 횡분포를 통해 얻을 수 있는 2차 모멘트의 종방향 변화율이 횡분산계수와 비례한다는 원리를 이용한 것이며, 추적법은 상류부의 관측된 농도를 입력자료로 하여 하류부의 농도를 계산한 후 계산된 농도와 실측된 하류부 농도의 비교를 통해 분산계수를 산정하는 방법이다. 본 연구에서는 불규칙한 단면 형상을 가지는 자연하천에서의 2차원 종 횡분산계수를 산정하기 위해서 Baek & Seo(2010)가 제안한 2차원 유관추적법(2D Stream-tube Routing Procedure)을 적용하였다. 본 연구에서는 국내 자연하천 중 다양한 사행형태를 갖으며 수질오염 사고의 위험이 높은 구간을 선정하고, 추적자로서 Rhodamine WT를 이용하여 현장실험을 수행하였다. 실험에서 수집된 수리량 및 농도자료로부터 추적자의 2차원적 거동을 분석하였으며, 2차원 유관추적법을 적용하여 종분산계수를 산정하였다. 그 결과 하폭 대 수심비(W/H)와 마찰손실관련 무차원변수(U/U*)의 증가에 따라 종분산계수가 증가됨을 확인 할 수 있었다. 본 연구에서 산출된 종분산계수와 선행 연구에서 수집된 자료를 이용하여 추정식을 개발하였다. 차원해석을 통해 무차원 종분산계수에 영향을 미치는 무차원 인자를 선별하고 회귀분석을 이용하여 종분산계수 추정식을 유도하였다. 추정식을 이용하여 산정한 종분산계수의 범위는 Elder (1959)가 제안한 이론값보다 약 10배 정도로 크게 나타났다. 혼합 특성이 밝혀지지 않은 자연하천에 2차원 확산모형을 적용하고자 할 때 본 연구에서 개발된 추정식으로부터 계산된 종분산계수를 사용할 수 있을 것이다.

• Journal of Digital Convergence
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• v.18 no.10
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• pp.517-526
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• 2020

This study aimed to understand the effects on preventive behavior intention to particulate matter by risk perception attitude and anxiety. Also, to expand applicable target and range of RPA model, add anxiety. To measure main variables of RPA model, did a survey with 570 college students. With a data, analyzed by correlation, one-way ANOVA and three-way ANOVA. As a result, perceived risk and efficacy effect on intention to preventive action and information seeking. And an anxiety factor effects on intention to preventive action and information seeking also. And distinguished 4 groups of RPA model, there were meaningful differences between intention to preventive action and information seeking by groups, and a factor of anxiety effects certain groups. As a result, it can suggest how to plan and enforce message on preventive campaign of particulate matter. In follow research, with social psychological factors, it will helpful to identify health activities about particulate matters.