• Journal of Convergence for Information Technology
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• v.11 no.4
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• pp.203-210
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• 2021

This study analyzed the financing ratio by operation fund financing method and their impact on management performance according to the establishment operation management entity of the medical institution. For the analysis method, ANOVA, logistic regression, and regression analysis were conducted using financial information registered with HASPA.The results of the study, The ratio of gross revenue to operating funds differed significantly depending on the establishment operation management entity. In addition, it was found that the financing ratio of each operation fund financing method was significantly related to the management results(deficit, surplus), and the impact of the operation fund financing method on management performance differed according to the establishment operation management entity. As a result, the management of operating funds of medical institutions is deemed appropriate to apply cost management first considering the ratio of revenue to operating funds, and then to utilize internal operating funds.

• International Commerce and Information Review
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• v.6 no.2
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• pp.339-358
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• 2004

This article discusses the critical issues on obligations and responsibilities in electronic funds transfer(EFT) between Article 4A of the UCC and the Model Law on International Credit Transfers of UNCITRAL. The electronic fund transfers begin with the issue of the payment order by the originator to the receiving bank for the beneficiary. All obligations and responsibilities of parties concerned occur when the receiving bank accept the originator's payment order to executes. So far, some the most compelling studies have focused on the legal obligations and responsibilities of electronic fund transfer in Korea. Therefore, In this paper, we would like to examine some problems of obligations and responsibilities in electronic fund transfer from Article 4A of UCC and the Model Law on International Credit Transfers of UNCITRAL. And also we present some Implications to reform EFT Law for the efficient application.

• KDI Journal of Economic Policy
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• v.36 no.4
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• pp.33-69
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• 2014

We investigate determinants of fund investment flows using Korean equity investment funds. Unlike previous studies which analyzed net-flows (inflow minus outflow), we analyze fund investment inflows and outflows separately that should properly reflect investors' fund selection and redemption decision. We find similar effects of past return, fund age on net-flows to existing studies based on US market data. The analysis of determinants of inflows shows that inflows are related to past return, fund age and sales fee as net-flows. In contrast, outflows are found to behave quite differently from inflows. Apparently, asymmetry exists between fund investment inflows and outflows at the Korean fund selection market. Specifically, high past returns increase fund investment inflows while increase, rather than decrease, fund outflows. Moreover, 'convexity' is detected both in inflows and outflows: higher past returns accelerate outflows as well as inflows. Effects of sales fee also differ between inflows and outflows. In the 'affiliated' fund sample, sales fee is negatively related to inflows while positively related to outflows. In the 'unaffiliated' fund sample, sales fee is positively related to inflows, but no significant relationship exists with outflows. Empirical findings of this paper imply that the rational investor's fund selection view cannot provide a consistent explanation of the Korean fund selection market. In particular, the positive and convex relationship between past returns and fund outflows is inconsistent with the rational investor view. The fact that investor's fund investment appears to display 'disposition effect', which has been reported by studies of individual investors' stock investment behaviour suggests that the behavioral finance view should be a part of explanation for the Korean fund selection market. In addition, the strikingly different patterns between the 'affiliated' funds and the 'unaffiliated' funds, imply that brokers' incentive structure is another prevailing factor for fund investment flows.

• The Journal of Information Systems
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• v.28 no.4
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• pp.333-358
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• 2019

Purpose The study aims to develop a data-based decision model for private bankers when recommending hedge funds to their customers in financial institutions. Design/methodology/approach The independent variables are set in two groups. The independent variables of the first group are aggressive investors, active investors, and risk-neutral type investors. In the second group, variables considered by private bankers include customer propensity to invest, reliability, product subscription experience, professionalism, intimacy, and product understanding. A decision-making variable for a private banker is in recommending a first-rate general private fund composed of foreign and domestic FinTech products. These contain dependent variables that include target return rate(%), fund period (months), safeguard existence, underlying asset, and hedge fund name. Findings Based on the research results, there is a 94.4% accuracy in decision-making when the independent variables (customer rating, reliability, intimacy, product subscription experience, professionalism and product understanding) are used according to the following order of relevant dependent variables: step 1 on safeguard existence, step 2 on target return rate, step 3 on fund period, and step 4 on hedge fund name. Next, a 93.7% accuracy is expected when decision-making uses the following order of dependent variables: step 1 on safeguard existence, step 2 on target return rate, step 3 on underlying asset, and step 4 on fund period. In conclusion, a private banker conducts a decision making stage when recommending hedge funds to their customers. When examining a private banker's recommendations of hedge funds to a customer, independent variables influencing dependent variables are intimacy, product comprehension, and product subscription experience according to a categorical regression model and artificial neural network analysis model.

• KDI Journal of Economic Policy
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• v.33 no.1
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• pp.45-72
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• 2011

This study uses Korea's equity fund-related data ranging from Jan. 2002 to Apr. 2010 to analyze the existence of cross-subsidization among funds managed by the same management company. The findings are as follows: i) a transfer of performance outcome is confirmed to move from low-fee funds to high-fee funds, meaning that management companies tend to maximize their own interest than investors' return. And such a tendency has been strengthened since 2008. ii) young funds overperform old funds, iii) funds with high returns in the previous quarter perform better than funds with low return in the same period. These results suggest that in order to protect investors, it is necessary to conduct close monitoring on transactions that might undermine the benefits of investors and comprehensive evaluation on the capability of management companies.

• Journal of Korean Clinical Health Science
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• v.1 no.1
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• pp.35-45
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• 2013

Purpose. Based on the comparison and analysis with those of United States, the aim of this research is to find the problems in current management, operation and future directions of emergency medical service (EMS) fund in S. Korea and to provide basic resources and appropriate measures to make a right decision in policies for EMS fund. Methods. Data from Ministry of Health and Welfare and other various sources during 1995 to 2012 were collected and analyzed. Results. From our analyses, several problems are identified in EMS fund operation. In brief, problems discerned are as follows. First, whereas the purpose and direction of EMS fund operations in United States are highlighted and focused on pre-hospital EMS system and associated infrastructures which need to be constructed, those of S. Korea are emphasized mainly on the in-hospital EMS system so far. Second, on the contrary to the fact that the EMS funds in United States are tuned to pre-hospital EMS system to provide prompt and efficient emergency care at the emergency scene of pre-hospital stage and to achieve the development, design, planning and demonstration projects for pre-hospital EMS systems, up to date, our investment of EMS funds demonstrated an excess biased inclination toward the construction of in-hospital EMS system, which is far from the realization of constructive and vital pre-hospital infrastructures. Third, while emergency medical technician is important and principal body in the management of emergency medical funds in United States, so far, no EMS funds in S. Korea existed for EMTs including the job condition, improved treatment and working environment for them. Conclusion. In conclusion, we strongly suggest that the problems pointed out must be revised and corrected. Current usage of EMS fund needs to be redirected predominatly to pre-hospital EMS system. Otherwise, unless current management and investment of emergency medical funds in S. Korea are applied and used for the vital necessities and demands of EMTs, public EMS units and private EMS units as well as related units in pre-hospital EMS system as in the cases of United States, in our consideration, they must be suspended or abolished.

• The Journal of the Korea Contents Association
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• v.16 no.2
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• pp.354-364
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• 2016

The purpose of this study is to analyze current condition and features of female development funds of Busan primary local self-government, and to make useful implications out of this so that the local female development funds can contribute to its ultimate purpose, which is to achieve female development. The analyses show that 1) local self-governmental districts with good finance try to reserve funds by reducing programs; 2) local laws, which serve as the legal basis of female development fund utilization, do not reflect the value of gender equality; 3) the programs run by the female development funds lack contents; 4) beneficiaries of the fund programs aremixed; and 5) female policies and family policies are not separated, exhibiting the limitations of feministic perspectives. I propose that 1) the fund should be raised through the governance of local female groups and self-governments; 2) basic local laws should be revised: 3) gender perspective contents and birth support policy should be implemented.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.5
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• pp.63-75
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• 2023

This study conducted empirical analysis on the factors affecting the investment performance of 205 domestic venture funds (with a total liquidation amount of 7.25 trillion KRW) newly formed from 2007 to 2017 and completely liquidated as of the end of 2022. Due to the nature of private equity funds, obtaining empirical data is extremely challenging, especially for data post-COVID-19 era liquidations. Nevertheless, despite these challenges, it is meaningful to analyze the impact on the investment returns of domestic venture funds using the most recent data available from the past 10 years. This study categorized the factors influencing venture fund performance into external environmental factors and internal factors. External environmental factors included "economic cycles," "stock markets," "venture markets," and "exit markets," while internal factors included the fund management company's capabilities in terms of "experience," "professional personnel," and "assets under management (AUM)." The fund structure was also categorized into "fund size" and "fund length" for comparative analysis. In summary, the analysis yielded the following results: First, the 3-year government bond yield, which represents economic cycles well, was found to have a significant impact on fund performance. Second, the average 3-month KOSDAQ index return after fund formation had a statistically significant positive effect on fund performance. Third, the number of IPOs, indicating the competition intensity at the time of venture fund liquidation, was shown to have a negative effect on fund performance. Fourth, it was observed that the larger the AUM of the fund management company, the better the fund's returns. Finally, venture fund returns showed variations depending on the year of formation (Vintage). Therefore, when individuals consider investing in venture funds, it is considered a highly effective investment strategy to construct an investment portfolio taking into account not only external environmental factors and internal fund factors but also the vintage year.

• International Journal of Computer Science & Network Security
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• v.23 no.11
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• pp.128-132
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• 2023

Investment authorities are broad financial institutions that carefully manage investments on behalf of the national government using a long-term value development approach. To provide a stronger structure or framework for In-vestment Authorities to govern the distribution of funds to public and private markets, we've started research to create a blockchain-based prototype for managing and tracking numerous finances of such authorities. We have taken the case study of Oman Investment Authority (OIA) of Sultanate of Oman. Oman's wealth is held in OIA. It is an organization that oversees and utilizes the additional capital generated by oil and gas profits in public and private markets. Unlike other Omani funds, this one focus primarily on assets outside the Sultanate. The operation of the OIA entails a huge number of transactions, necessitating a high level of transparency and administration among the parties involved. Currently, OIA relies on various manuals to achieve its goals, such as the Authorities and Responsibilities manual, the In-vestment Manual, and the Code of Business Conduct, among others. In this paper, we propose a Blockchain based framework to manage the operations of OIA. Blockchain is a part of the Fourth Industrial Revolution, and it is re-shaping every industry. The main components of every blockchain are assets and participants. The funds are the major assets in the proposed study, and the participants are the various fund shareholders/recipients. The block-chain's transactions are all safe, secure, and immutable, and it's part of a trustless network. The transactions are simple to follow and verify. By replacing intermediary firms with smart contracts, blockchain-based solutions eliminate any middlemen in the fund allocation process.

• The Korean Journal of Applied Statistics
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• v.23 no.5
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• pp.783-797
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• 2010

Based on the importance of asset allocation in the return of an investment portfolio, this article attempts to verify the appropriateness of mutual funds as means of investment to obtain optimal asset allocation. The return-based style analysis is applied to determine a mutual fund's allocation(or a style) among a set of specified asset classes. Assuming a particular investor who defines a range allowed a fund's style to differ from its original one, it is examined whether or not the fund style is continued over an investment time horizon. After verifying the fact that the original style of the investment fails to remain unchanged from the empirical analysis limited to domestic equity mutual funds, we further investigated the reasons for the style drift. Despite several limitations of the analysis, it yields the conclusion that domestic equity mutual funds do not seem to be an appropriate investment tool to achieve a target asset allocation.