• 경영과학
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• 제26권2호
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• pp.19-35
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• 2009

This paper investigated performance of the Markowitz's portfolio selection model with applications to Korean stock market. We chose Samsung-Group-Funds and KOSPI index for performance comparison with the Markowitz's portfolio selection model. For the most recent one and a half year period between March 2007 and September 2008, KOSPI index almost remained the same with only 0.1% change, Samsung-Group-Funds showed 20.54% return, and Markowitz's model, which is composed of the same 17 Samsung group stocks, achieved 52% return. We performed sensitivity analysis on the duration of financial data and the frequency of portfolio change in order to maximize the return of portfolio. In conclusion, according to our empirical research results with Samsung-Group-Funds, investment by Markowitz's model, which periodically changes portfolio by using nonlinear programming with only financial data, outperformed investment by the fund managers who possess rich experiences on stock trading and actively change portfolio by the minute-by-minute market news and business information.

• 대한안전경영과학회:학술대회논문집
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• 대한안전경영과학회 2012년 춘계학술대회
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• pp.667-678
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• 2012

Internet and information technology due to the development of rapid changes in the investment environment, the existing securities, or by disassembling the combined financial engineering to create new securities with the development of enlarged minimize losses to investors in financial markets more stable that can be and need a way to invest in this paper, such as individual stocks or a specific index of those derivatives that are linked to the December 1, 2005 and 2010 the market began trading from the phone call attention off new measures to gauge the individual through ELW underlying assets such as stocks or a specific index to minimize the loss of a stable hedge for investors to evaluate the possibility of studying for.

• 환경정책연구
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• 제9권3호
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• pp.47-67
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• 2010

본고에서는 탄소생산성(환경경제효율)이 미래 저탄소사회에서 기업이 지속가능한 발전을 달성하기 위한 환경전략의 목표가 될 수 있는지를 확인하기 위해 탄소생산성과 기업의 재무성과 간에는 어떠한 관련성이 있는지를 실증적으로 분석하고자 하였다. 분석 결과를 요약하면 첫째 탄소생산성이 높은 기업일수록 재무성과가 향상되는 것으로 나타났다. 탄소생산성(환경효율) 개념을 수정 보완한 Factor-X지표도 재무성과에 유의한 양의 영향을 미치는 것을 보여주었다. 둘째 재무성과가 양호한 기업일수록 차기의 탄소생산성도 개선될 것이라는 가설도 지지되었다. 그러나 탄소생산성과 재무성과 간에 장기적 영향(효과)은 나타나지 않았다. 끝으로 산업특성(에너지다소비산업 여부)에 따라 탄소생산성과 재무성과의 관련성이 달라진다는 사실도 확인되었다.

• 정보보호학회논문지
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• 제19권4호
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• pp.137-142
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• 2009

최근까지 암호기술에 대해 알려진 공격이나 안전성 저하현상에 의해 국내외 주요기관들은 권장되는 암호기술의 종류, 사용기간, 안전성 파라미터 등을 명확하게 명시하고 있다. 이에 따라 국내 금융권에서도 일부 암호기술을 교체하기 위한 작업이 이루어져야 할 것이다. 본 논문에서는 금융권에서 시급히 이루어져야하는 금융권 암호기술 적용 현황파악 및 취약 암호기술 선별 등 선행작업과 금융권 암호기술관리 방안에 대해 살펴보고, 향후 암호기술의 안전성에 대한 급격한 변화에도 금융시스템의 신뢰도를 유지할 수 있도록 중장기적인 관점에서의 암호기술 관리방안에 대해 제시한다.

• Asia pacific journal of information systems
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• 제24권3호
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• pp.393-415
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• 2014

This study examines the dynamics of trust and distrust at different price levels. We first note that trust and distrust are built with cognitive and affective foundations, and price is viewed as a financial burden or product quality information. Then, we relate price changes to trust and distrust, and hypothesize their interactions: price as a quality cue will positively moderate the cognitive dimension of trust, whereas price as financial burden will negatively moderate the affective dimensions of trust and distrust. We surveyed 263 online mall shoppers in Korea. Among our eight hypotheses, six are fully supported and two are partially supported. The result shows that price perception interacts with both the cognitive and affective dimensions of trust and distrust, but its specific impacts are distinguished by the price perceptions, whether it is financial burden or product quality information.

• 산업경영시스템학회지
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• 제43권4호
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• pp.178-189
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• 2020

The purpose of this study was to analyze structural relationships with regard to the effect of customer integration, which is a type of integration in the supply chain, and market orientation of supply chain on the resulting change in the supply chain and management performance. The results of analysis in this study are as follows: First, customer integration and market orientation had a positive effect on reducing the flexibility and uncertainty of SCM. The decreased flexibility and uncertainty of SCM had a positive effect on non-financial performance, which also had a positive effect on financial performance. Second, customer integration and market orientation had a positive effect on financial and non-financial performance indirectly by decreasing the flexibility and uncertainty of SCM. Third, the effect of customer integration and uncertainty of SCM on the flexibility of SCM changed depending on the position in the supply chain; the effect was larger in the distribution group. The implications based on the analysis results are as follows: It is expected that the ability to deal with market changes in the overall supply chain is improved by laying the foundation for cooperation through establishing information infrastructure, including sharing information with trade partners and integrating systems, and implementing customer integration based on these achievements. It is also necessary to consider the business types and characteristics of individual companies in establishing information infrastructure.

• 보건의료산업학회지
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• 제11권1호
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• pp.1-9
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• 2017

Objectives : Cash Flows from operating activities is the most important part of the cash flow statement and it serves as an important financing source. Accordingly, the purpose of this study is to examine the influence of the contents of cash flows from operating activities on the changes in borrowings. Methods : In this study financial data from 2011 to 2014 were used to analyz 36 general hospitals and 85 hospitals according to the index displaying variation against the previous year. Results : For general hospitals, borrowings in cash flow from financing activities increased as net income decreased; while depreciation etc increased in cash flow from operating activities. For hospitals, borrowings in cash flow from financing activities increased as the gain on disposition of tangible assets in cash flow from operating activities decreased. Conclusions : General hospitals need to control the management of borrowings and depreciation at the level of funding management; whereas hospitals need to manage of future cash forecasts for stability of operational funds.

• 재무관리연구
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• 제19권2호
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• pp.111-134
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• 2002

본 연구에서는 건설업종에 특화된 신용평가 모형을 개발하여 건설업종에 대한 부도 예측력를 제고하고자 하였다. 건설업은 여타 업종과는 다른 재무적 특성을 지니고 있다. 특히, 재무적 안정성이 취약하고 자산의 대부분이 매출채권, 재고자산으로 구성되어 유동성이 극히 낮은 실정이다. 본 연구는 이러한 건설업종의 특성을 충분히 감안한 신용평가 모형을 개발하고자 한것이다. 신용평가 모형 중 그 현실적 유용성이 높아 많이 이용되어 오던 신용평점 모형을 개발하였다. 총 2,475개 건설업체를 대상으로 모형구조 및 각종 계량지표 및 비계량지표에 대한 분석을 주로 평균차이 검증과 로짓분석에 의거 선정하였다. 그 결과 새로운 신용평점 모형은 매출액 경상이익률, 총 현금흐름 대 차입금 비율 등 9개의 재무지표와 5분류의 비재무지표로 구성되었다. 이 모형을 기존의 신용평점모형과 비교한 결과 신규모형의 변별력이 높은 것으로 나타났다. 본 연구가 제시한 신용평점모형과 그 개발 방법이 향후 금융기관들의 부실을 줄이고 결과적으로 수익성을 개선하는데 일조하리라 기대된다.

• Journal of the Korean Data and Information Science Society
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• 제23권2호
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• pp.365-374
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• 2012

Weather derivatives designed to manage casual changes of weather, as opposed to catastrophic risks of weather, are relatively a new class of financial instruments. There are still many theoretical and practical challenges to the effective use of these instruments. The objective of this paper is to develop a pricing approach for valuing weather derivatives and presents a case study that is practical enough to be used by the risk managers of electrical utility firms. Utilizing daily average temperature data of Guangzhou, China from $1^{st}$ January 1978 to $31^{st}$ December 2010, this paper adopted a univariate time series model to describe weather behavior dynamics and calculates equilibrium prices for weather futures and options for an electrical utility firm in the region. The results imply that the risk premium is an important part of derivatives prices and the market price of risk affects option values much more than forward prices. It also demonstrates that weather innovation as well as weather risk management significantly affect the utility's financial outcomes.

• Journal of Information Technology Applications and Management
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• 제29권2호
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• pp.39-50
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• 2022

This research confirmed whether banks and saving banks increase their deposit margin under changes in the base rate. This paper has conclusions as follows. First, when the Bank of Korea changes the base rate, deposit rate variable are significant with panel analysis in the total data set and saving banks. This result implies that changes in the base rate affect deposit margin. Second, this study confirmed whether banks and saving banks maximize their deposit margin as base rate changes. As a result, when the Bank of Korea cut the base rate, the deposit margins of banks and saving banks decreased significantly. Still, their deposit margins are not statistically significant in the opposite situation. Therefore, this paper could not find evidence that banks and saving banks behave to maximize their deposit margin. Maybe, this phenomenon can appear because these financial institutions recognize this criticism.