• The Journal of Asian Finance, Economics and Business
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• v.8 no.3
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• pp.1231-1240
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• 2021

A shift in perspective from standard finance to behavioral finance has taken place in the past two decades that explains how cognition and emotions are associated with financial decision making. This study aims to investigate the influence of various psychological factors on investment decision-making. The psychological factors that are investigated are differentiated into two aspects, cognitive and emotional aspects. From the cognitive aspect, we examine the influence of anchoring, representativeness, loss aversion, overconfidence, and optimism biases on investor decisions. Meanwhile, from the emotional aspect, the influence of herding behavior on investment decisions is analyzed. A quantitative approach is used based on a survey method and a snowball sampling that result in 165 questionnaires from individual investors in Yogyakarta. Further, we use the One-Sample t-test in testing all hypotheses. The research findings show that all of the variables, anchoring bias, representativeness bias, loss aversion bias, overconfidence bias, optimism bias, and herding behavior have a significant effect on investment decisions. This result emphasizes the influence of behavioral factors on investor's decisions. It contributes to the existing literature in understanding the dynamics of investor's behaviors and enhance the ability of investors in making more informed decision by reducing all potential biases.

• Asia-Pacific Journal of Business
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• v.12 no.1
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• pp.135-149
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• 2021

Purpose - I analyzes risk-to-performance evaluated in the market using data from sale and lease back. Specifically, I analyze from the perspective of financial institutions that purchase sale and lease back based on the cases of investment by ship investment companies and acquisition of ships. Design/methodology/approach - I use 49 sale and lease back data from 2017 to 2019 for empirical analysis. Findings - The main results of this paper are as follows. First, after sale and lease back of domestic ships, the average amount of sales by the leased shipping company is 25.1 billion won, the average amount of investment by the purchased financial institution is 14.6 billion won (60%) and the average length of the ship is nine years. In ship finance, sale and lease back is deemed to be appropriately used as a means of restructuring for a large amount of money. Second, the main risk factor for sale and lease back of domestic ships is credit risk and can be measured in VaR in practice. As a result of the empirical analysis, the average credit risk burden ratio is 9%. As a major risk factor, low creditworthiness of restructuring companies is the key. Third, as a result of measuring the profitability of financial institutions that purchase sale and lease back of domestic ships at a net current price, it has an average value of 300 million won, but the deviation by case is very large. Fourth, the risk adjusted performance of sale and lease back of domestic ships is 0.54 on average compared to the total risk capital, and 0.52 compared to the stock-risk capital, and as with profitability earlier, the deviation of each case is very large and misaligned. In order to boost the sale and lease back market for large and long-term assets, in order to overcome low profitability as a prerequisite for future participation of commercial purchased financial institutions, it is expected that purchase decisions based on expectations versus risk will be necessary. Research implications or Originality - The results of this paper are expected to broaden the understanding of sale and lease back and foster the ability to assess long-term risk and performance. Based on this, it is believed that rapid restructuring of companies through sale and lease back of large amounts of long-term assets will greatly increase the utility of the domestic financial market.

• International Journal of Computer Science & Network Security
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• v.22 no.12
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• pp.91-97
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• 2022

Analyzing the psychological and pedagogical literature, we showed the interest of researchers in the problem posed. The concept of competence is considered, which is interpreted as giving the key to solving a wide range of educational and life tasks. Research competence implies the ability to cooperate, enter into contacts, readiness for changes, for self-determination and is an integral quality of the individual, expressed in the readiness and ability to independently search for solutions to new problems and creative transformation of reality based on a set of personal and meaningful knowledge, skills, methods of activity and value attitudes.The article offers conditions that certify the improvement of forms and methods of training students in the formation of research competence of future specialists. The use of innovative technologies contributes to improving the level of training of future specialists: students are better prepared for classes, take an active part in the assimilation of program material in laboratory classes. It is noted that this creates a subject-subject relationship between the student and the teacher, and changes the attitude of students to classes. In the process of such organization of educational activities, students are convinced of the need for knowledge and its effectiveness, learn to compare, generalize, classify, establish cause-and-effect relationships, express opinions, defend their point of view, they ensure success in their studies, and develop research competence. It is proved that in order to apply the latest technologies, the teacher himself must know them well, that is, constantly improve himself, master new methods, techniques, ideas, which will help him create new pedagogical technologies and implement them in the educational process.

• The Korean Journal of Financial Management
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• v.20 no.2
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• pp.73-94
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• 2003

In general, the interest rate is forecasted by the parametric method which assumes the interest rate follows a certain distribution. However the method has a shortcoming that forecasting ability would decline when the interest rate does not follow the assumed distribution for the stochastic behavior of interest rate. Therefore, the nonparametric method which assumes no particular distribution is regarded as a superior one. This paper compares the interest rate forecasting ability between the two method for the Monetary Stabilization Bond (MSB) market in Korea. The daily and weekly data of the MSB are used during the period of August 9th 1999 to February 7th 2003. In the parametric method, the drift term of the interest rate process shows the linearity while the diffusion term presents non-linear decline. Meanwhile in the nonparametric method, both drift and diffusion terms show the radical change with nonlinearity. The parametric and nonparametric methods present a significant difference in the market price of interest rate risk. This means in forecasting the interest rate and the market price of interest rate risk, the nonparametric method is more appropriate than the parametric method.

• Korean Journal of Construction Engineering and Management
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• v.4 no.2 s.14
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• pp.66-73
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• 2003

Building construction projects are performed by a number of sub-contractors specialized in diverse trades. Therefore information management among these constituents is quite challenging especially due to exponentially increasing manpower and material resources. In recognition of the importance of information management in project sites a number of systems have been suggested, but the application is limited one of the main reason is that general contractors use these systems and sub-contractor's participation understanding and financial ability are limited. Besides other problems such as loss along communication channel, distortion of information due to inefficient input device and tremendous amount of time and labor are required for collection analysis, and management of information to prepare a daily-report. Therefore the Purpose of this study is to improve reporting process through analyzing current daily reporting system. This paper also suggests the direction of the improved daily reporting system to enhance the performance of construction projects through incorporating sub-contractor's participation in daily reporting system.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• autumn
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• pp.375-378
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• 2002

Most construction works in a building site are progressed by many work categories and sub-contractors. Therefore there are many difficult things of management of construction-information because variable occurrences are happened to manpower and material resources. For this reason, various management systems are suggested, but the application of these systems are difficult because only construction company manages these systems and sub-contractor's participation, understanding and financial ability are insufficient. In addition to that, there are other problems such as lost information when it is carried, perversion and distrust of information by hand and lots of time and labor are necessary for collection, analysis, and management of information which are offered for daily report. so the purpose of this study is for improvement of reporting process with making an analysis of productivity effects and an analysis of function and problem of daily report. I intend to suggest the direction of improved daily report system for better productivity of construction work through input information and management of cooperation enterprises.

• Management & Information Systems Review
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• v.36 no.1
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• pp.233-249
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• 2017

This study investigates the relation of managerial ability and firm performance in case of Chaebol in Korea. We employ non-financing firms at Korean markets for the period 2000-2015. Most important decision is made by the head of Chaebol which increases firm value eventually and he has such a strong dominant power that managers belongs to Chaebol have to follow mother firm's decision directions. So it is expected that managers belongs to Chaebol have to focus on long term performance rather than short term profits, which means they concentrate their managerial ability much on the firm value. Otherwise, managers in which non-Chaebol focus their ability on periodic accounting earnings. Thus, this study examines an empirical analysis on the relation of managerial ability and firm performance and the effect of Chaebol on the relation of managerial ability and firm performance. Empirical results are as follows: First, there exists a statistically significant positive relation between managerial ability and firm performance either short- or long-term. Second, we extend this relationship into Chaebol condition and find that managerial ability of Chaebol positively influences on the firm value which is long-term performance, rather than return on assets which is short-term performance. These results imply that managers belongs to Chaebol much concentrate their ability on long-term value which is differenciated from the case of non-Chaebol samples. Chaebol is an important issue in Korea because it dominates most of Korean local economy so its' impact from small changes on our economy is big enough. Our study examining the relationships between managerial ability of Chaebol and firm performance is meaningful and it is a good signal that they concentrate their ability much on the long-term value rather than short-term profits. We expect that the results of this study will provide the academic and practical references. This study will contribute to the future research in accounting through an analysis of managerial ability which is a new measure, Chaebol, and firm value.

• Journal of Digital Convergence
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• v.19 no.12
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• pp.321-329
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• 2021

A measure of managerial ability was derived using DEA, a measure of management efficiency, and the correlation coefficient between discretionary accrual and non-discretionary accrual, net income and operating cash flow standard deviation was used as a proxy for income smoothing. verified. In addition, the manager's compensation was used by taking the natural logarithm of the cash compensation per manager. The analysis results are summarized as follows. The analysis period for hypothesis testing is from 2004 to 2017, as a result of the hypothesis analysis of the correlation with the level of manager's compensation, it was suggested that the income smoothing behavior decreased the performance-based compensation and increased the performance-controlled compensation. This can be said to be the result of indirectly confirming that additional compensation is differentially paid for income smoothing. This study has a contribution to the study by empirically analyzing whether income smoothing affects the relationship between managerial ability and managerial compensation. However, although a number of previous studies empirically analyzed that there are upper and lower bounds for manager compensation, there is limitations that could not be analyzed for asymmetric compensation due to income smoothing is expected to expand.

• Journal of Intelligence and Information Systems
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• v.17 no.2
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• pp.23-38
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• 2011

Energy management aims to financial and ecological success by optimizing the energy consuming sources such as sensors, computers and appliances. Hence, acquiring energy-related data from the sources in an automated manner is the starting point of managing energy. Recently, awareness computing has been emerging in system and cybernetics area. Awareness is the most fundamental ability for any living things to survive, and also the first step to make systems intelligent with the help of artificial intelligence. Even though the potential reciprocal benefits between energy management and awareness computing, frameworks which show how awareness computing contributes to manage energy-related strategy have been very few. Hence, this paper aims to introduce the awareness computing issues to improve energy management. In particular, we focus on satisfaction awareness computing which potentially realize the balance of energy savings and user's utility.

• Journal of Convergence for Information Technology
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• v.12 no.4
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• pp.111-118
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• 2022

This study is an analysis of auditor's response to audit risk. Specifically, audit risk is measured by the amount of correction of the current financial statements, and auditor's response is measured by the rate of change of audit hour in next auditing. The amount of correction can be viewed as audit risk recognized by auditor because the degree of auditor's correction will increase as the company's financial statement preparation ability is lower or the profit management amount is larger. Auditor's response is measured as the rate of change of audit hour because audit risk would be incorporated in audit plan. Although auditing is performed by a team, auditor's response would differ depending on their roles. It is expected the leaders who establish the audit plan and manage the audit quality would respond more sensitively to audit risk than the other auditors. The results show that when the amount of correction is greater than a certain level, auditors recognize it as audit risk and increase total(and leaders') audit hour in next year audit.