• Journal of the Korean Operations Research and Management Science Society
• /
• v.6 no.2
• /
• pp.35-49
• /
• 1981

This paper is concerned with developing a Multi-period Behavioral Model for the portfolio selection problem. The unique feature of the model is that it treats a number of factors and decision variables considered germane in decision making on an interrelated basis. The formulated problem has the structure of a Chance Constrained programming Model. Then empoloying arguments of Central Limit Theorem and normality assumption the stochastic model is reduced to that of a Non-Linear Programming Model. Finally, a number of interesting properties for the reduced model are established.

• International Area Studies Review
• /
• v.20 no.4
• /
• pp.121-145
• /
• 2016

The purpose of this study is to identify the strategy of alliance portfolio and to compare the firm's characteristics and internal capabilities of each strategy for the successful utilization of alliance. We conducted a cluster analysis and ANOVA on 477 samples, which have alliance experience among the manufacturers responding to the Business Survey by Statistical Office in both 2012 and 2013. As a result of the analysis, it was found that firms have alliance portfolio based on strategy such as exploration, exploitation, and ambidextrity. There are statistically significant differences in the number of patents, technology capability, marketing capability, and global capability among the alliance portfolio strategy type.

• KIPS Transactions on Software and Data Engineering
• /
• v.12 no.9
• /
• pp.419-430
• /
• 2023

Currently, NFTs have no dominant application except for the proof of ownership for digital content, and it also have small liquidity problem, which makes their price difficult to predict. Real estate usually has very high barriers to investment due to its high pricing. Real estate can be converted into NFTs and also divided into small value fungible tokens (FTs), and it can increase the the volume of the investor community due to more liquidity and better accessibility. In this document, we implement and design a system that allows ordinary users can invest on high priced real estate utilizing Black Litterman (BL) model-based Portfolio investment interface. To this end, we target a set of real estates pegged as collateral and issue NFT for the collateral using blockchain. We use oracle to get the current real estate information and to monitor varying real estate prices. After tokenizing real estate into NFTs, we divide the NFTs into easily accessible price FTs, thereby, we can lower prices and provide large liquidity with price volatility limited. In addition, we also implemented BL based asset portfolio interface for effective portfolio composition for investing in multiple of real estates with small investments. Using BL model, investors can fix the asset portfolio. We implemented the whole system using Solidity smart contracts on Flask web framework with public data portals as oracle interfaces.

• Journal of the Society of Naval Architects of Korea
• /
• v.46 no.3
• /
• pp.362-371
• /
• 2009

Shipbuilding is a typical 'build to order' industry. It has a business model that generates revenues from building various ships and offshore products in accordance with owner's requirements at each production stage. Under uncertainty in shipping market, it is very essential for the shipbuilder to prepare the fast and competitive decision for product portfolio strategy in order to maximize contribution margin by exploiting production facilities and constraints. In this study, we introduce the unique decision supporting methodology for the optimal product portfolio sets based on Theory of Constraints(TOC). This methodology is established by adopting the concept of Drum Buffer Rope(DBR) in constraints planning and Throughput Accounting (TA) in management accounting of TOC. In addition, Decision Supporting System(DSS) is implemented. This DSS system provides a throughput estimator with reflecting the cost structure of shipbuilding industry and a resource simulator built on heuristic algorithms to operate major constraint-resources in shipyard such as dock, quay and pre-erection area etc. Several examples are presented to show that the proposed methodology and system can effectively support the strategic decision-making process of a global shipbuilding company.

• Journal of Korea Technology Innovation Society
• /
• v.14 no.2
• /
• pp.279-300
• /
• 2011

Given the huge increase in interest in biotechnology, whose applications are being expanded as a new growth engine, investment and agency participation are also increasing. In 2008, the level of investment by the national R&D programs in future emerging technologies (6T) in the field of biotechnology was as great as that in IT, and six agencies and many relevant research institutes are now carrying out various related projects. This paper intends to review the status of investment in biotechnology by analyzing the portfolio and positioning of the national R&D biotechnology programs, which address global issues such as the quality of life, the aging society, and environment and energy, and to propose a new investment strategy and direction for the efficient implementation of the national R&D programs.

• Journal of The Korean Association For Science Education
• /
• v.21 no.1
• /
• pp.22-29
• /
• 2001

The purpose of this study is to investigate the effects of lessons adopting portfolio assessment regarding feedback on elementary school student's scientific knowledges, inquiry abilities and their perceptions of it. For this study, two classes of 5th grade elementary school in suburb were selected. As an experimental group, one class was selected to apply the lessons adopting portfolio assessment regarding feedback, and the other class as a control group was selected to apply the lessons adopting portfolio assessment without feedback. The investigator taught and assessed both group students. The results showed a significant difference in scientific knowledge between the experimental group and the control group (p<.05). More detailed analysis of scientific knowledge found that the feedback effect was statistically positive in the memory and the understanding domain, but there was no effect in the application domain. No statistical difference was identified in inquiry abilities. The results of the questionnaire on the perceptions of portfolio assessment showed that students of the experimental group had higher positive responses on the 'perception about the effects of lesson' and on the 'perception in scientific attitudes' than the control group. However, the control group students had higher positive responses on the 'perception about self-evaluate of their own portfolio' and the 'perception about need of feedback' than the experimental group.

• Cartoon and Animation Studies
• /
• s.40
• /
• pp.287-314
• /
• 2015

This study tries to analyze the portfolio of production budget related to Hollywood animation movies released during the five years between 2010 and 2014, in order to investigate how blockbuster strategy made the box office performance. The analysis shows that this animation genre invested more than one thousand million dollars as the average budget for each film. It increased threefold in the box office result. In the production of Hollywood animation genre, 72.2% of its whole production money was found to use for movies investing more than one thousand million dollars. It is to show how the production of animation aimed for profit-making via blockbuster strategy recognized as the most successful portfolio strategy in the recent Hollywood film industry.

• Environmental and Resource Economics Review
• /
• v.20 no.2
• /
• pp.335-356
• /
• 2011

In this paper, we attempted to suggest a way to evaluate appropriateness and efficiency for the energy consumption structure. For this, based on Markowitz (1952)' mean-variance portfolio model, we constructed an optimal fossil fuel mix. In constructing the optimal mix, we first defined returns on fossil fuels (oil, coal and natural gas) as TOE (Ton of Oil Equivalent) per $1. Then, by using the dynamic latent common factor model, we decomposed the growth rates of the returns on each fossil fuel into two parts : the common part and the idiosyncratic part. Finally, based on the results from the dynamic latent common factor model, we constructed the optimal fossil fuel mix implied by the mean-variance portfolio model. Our results indicate that for the fossil fuel mix to be on the efficient frontier, it is crucial to reduce oil consumption as low as possible. Moreover, our results imply that it is more efficient to increase natural gas consumption rather than coal consumption in reducing oil consumption. These results are in line with the strategies for the future energy consumption structure pursued by Korea and indicate that reduction in oil use can improve overall efficiency in energy consumption.

• Journal of Technology Innovation
• /
• v.26 no.4
• /
• pp.1-28
• /
• 2018

With the growing number of emerging carmakers, automotive parts manufacturers have to penetrate into emerging markets. They can provide large existing carmakers with fully customized parts because of economies scale, but cannot do this for small emerging carmakers due to their small and highly volatile volume order. Once the order by an emerging carmaker is placed, a part manufacturer is exposed to high risks both of decrease in profit margin and high opportunity cost. The platform-based mass customization can be a solution for cost reduction, but the risks of volatility in volume hard to manage. Tackling this issue, we presents a method of optimizing the product portfolio to maximize profits while managing volatility of volume order by emerging carmakers at an affordable level. It is the first robust product portfolio method to keep the scaled deviation of profits at a fixed level under volume order uncertainty. Also, the effect of on the platform-based mass customization on cost is considered. This model can be a building block of conservative market penetration as well as product development strategy while minimizing the financial risks. We conducted an empirical study of a part manufacturer targeting on eighteen automobile manufacturers in North America, Europe and Asia with it powered lift gate.

• KDI Journal of Economic Policy
• /
• v.41 no.4
• /
• pp.67-99
• /
• 2019

This paper, focusing on the renewable portfolio standard (RPS), evaluates alternative renewable energy policies. We propose a tractable equilibrium model which provides a structural representation of Korea's electricity market, including its energy settlement system and renewable energy certificate (REC) transactions. Arbitrage conditions are used to define the core value of REC prices to identify relevant competitive equilibrium conditions. The model considers R&D investments and learning effects that may affect the development of renewable energy technologies. The model is parameterized to represent the baseline scenario under the currently scheduled RPS reinforcement for a 20% share of renewable generation, and then simulated for alternative scenarios. The result shows that the reinforcement of the RPS leads to higher welfare compared to weakening it as well as repealing it, though there remains room to enhance welfare. It turns out that subsidies are welfare-inferior to the RPS due to financial burdens and that reducing nuclear power generation from the baseline yields lower welfare by worsening environmental externalities.