• Journal of Digital Convergence
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• v.14 no.7
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• pp.127-133
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• 2016

The objective of this study is to investigate the association between MBTI personality types of potential investors and their cognitive behavioral investment disposition. Three questionnaires related with MBTI, cognitive investment disposition, and behavioral one from 400 subjects were collected and analyzed. Based on both cognitive and behavioral investment disposition scores, potential investors having E(Extroversion), S(Sensing), and F(Feeling) types tend to put up with the risk resulting from their investment better than ones who having I(Introversion), N(Intuition), and T(Thinking) types. However, the difference between J(Judging) and P(Perceiving) types was not significant. Also investor group with ENF combination had the most aggressive investment disposition among other groups. On the contrary the group with ISF had an tendency to avoid the investment risk. In addition the correlation between cognitive and behavioral investment dispositions was 0.86. This study is expected to be used as basic data with which investment companies and banks recommend adequate financial instruments to consumers.

• Journal of Navigation and Port Research
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• v.46 no.5
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• pp.427-434
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• 2022

The purpose of this study was to analyze whether the disposition effect, a behavioral finance theory, exists in decision-making for ship investment. A case study was adopted as the research methodology, and data obtained through narrative and questionnaire responses on decision-making for ship sales were analyzed from a behavioral finance perspective. The analysis found that the disposition effect had an impact on the decision to sell a vessel. The narrative responses revealed that some shipping companies tended to miss the opportunity to maximize ship sale profit because they sold their vessels readily and quickly before the price of the vessels had risen sufficiently. The questionnaire survey results indicated that the majority of the survey respondents chose to sell a ship whose price had risen slightly from the initial purchase price. Managers in charge of ship investment should examine whether the disposition effect exists in their decision-making when selling a ship.

• 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.

• Korea Real Estate Review
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• v.27 no.1
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• pp.7-16
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• 2017

In this study, we examine whether there are prospect theory investment patterns for individual investors in the real estate market. We use the maximum potential profit rate and the maximum potential loss rate of individual investors as a research method and additionally analyze it using the Jeong and Park(2015) model. As a result of the analysis, it was found that the investment pattern according to the prospect theory and disposition effect for individual investors. And we find the difference between zoning areas. This difference in investment behavior is believed to be due to the purpose of the real estate and the existence of rent fee, which creates a difference in investment behavior depending on the purpose. The limitations of this study are the analysis measurement of potential profit and potential loss using the land price index like the study of jeong and Park(2015). This implies that a new property price index needs to be developed or a benchmark for real estate assets is needed for deeper study of real estate investment sentiment.

• Korea Journal of Hospital Management
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• v.14 no.3
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• pp.49-66
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• 2009

Purpose : This study was aimed at examining the relationships of university students' self-efficacy to creative disposition and creative thinking ability. Method : A descriptive study was conducted with a sample of 320 students enrolled 4-year-undergraduate academic programs major in nursing as well as elderly care management in one University located in Pusan, Korea. This study used: (a) 24 items of Self-Efficacy Scale originally developed by Kim & Cha(1996), and (b) 39 items of creative thinking ability and 16 items of creative attitudes in a Self-Report Form of Integrative Creativity Scale developed by Bak & Kang(2006). The data were analyzed by using Pearson correlation and hierarchical multiple regression methods. Result : University students' self-efficacy has significantly positive impact on creative thinking ability(p<.001) with 26.4% of the variance and creative disposition(p<.001) with 48.9%. Creative thinking ability as well as the disposition related to creativity that university students possessed were significantly influenced by efficacy on self-control and efficacy on taking difficult tasks. Conclusion : This result supports Social Cognitive Theory and Investment Theory of Creativity in terms that self-efficacy is the factor affecting fostering creative ability and demonstration of creativity potential to the real. This also implies that healthcare educational programs reinforcing students' self-efficacy would contribute to breed them to healthcare professionals with creative competency.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.4
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• pp.53-62
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• 2022

Disposition Effect (DE) is one of the many investment biases, wherein the investors sell the profitable stocks rather quickly and they tend to hold on the loss making stocks. Various factors related to the DE are the character of investors applying risk management which is also influenced by the social media, Salient Shock (COVID-19), and in the specific case of Indonesia, the phenomenon of rumor stocks wherein the price can rise as much as up to 8500%. The study aims to provide empirical evidence regarding the DE with specific explanatory factors, namely investor behavior and rumors. Data was obtained through a questionnaire sent to 248 Indonesian Stock Exchange Investors (IDX) during the period October-November 2021 by using Ordinary Least Square (OLS) method. The results show: Generation Z, women, and investors with a low education has a greater DE, risk-takers tend to have lower DE, and professionals have negative DE. Implementation of risk management will reduce DE. Social Media and the COVID-19 situation positively affect DE. Especially on stock rumors, there is evidence that investors who own rumor stocks will have a low DE. The results indicate the need for: (i) risk management, especially for Z Generation, women and low education Investors, (ii) to provide positive information so that information on social media can be responded to positively.

• Culinary science and hospitality research
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• v.8 no.1
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• pp.23-41
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• 2002

Ordinary, the hotel Career Development that cooks are hi red, then OJT and evaluation, disposition. It means that cook to set in order with licence and to carry-out effect But it is not continue forever about the job demand, attitude, ability of cook. The Executive Chef and depart of career development have to plan for problems now and a long time of time to cooks. Demand of cook career development are sociality and economical. Because the hotel needs a high-grade cook for keep competitive in changing surround. internal resources are more effect ive when require without delay man power than hire urgent. It is not only lack career development to cook, probably face up to retirement at one time and foment social order but also cook lose their a right to labor. Cook supports their family and grow, economic base for ethical by labor, so have to carry their point. In addition the domestic five stars hotel's career development structure are very simple and infirm, so it cause stagnation to position, lead to negative vision and show a drop in efficiency. Therefore the hotel must investment about Career Development.

• The Journal of Fisheries Business Administration
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• v.55 no.1
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• pp.21-35
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• 2024

In this study, we collected and analyzed the current status of licenses for the limited fishery business and divided the problems related to licenses for the limited fishery business into partial damage compensation and cancellation compensation areas. In the case of partial damage compensation areas due to existing public water use projects, it is suggested that the issuance of licenses for limited fishery businesses should be reconsidered. In the case of cancellation compensation areas, it is recommended that the disposition of communal fishery businesses that do not require capital investment should be the principle. If capital such as facilities are invested, compensation should be made by Article 52 of the Enforcement Decree of the Land Compensation Act if the licenses for limited fishery business are closed due to other development projects. In addition, we proposed an improvement plan to establish a rational management system for licenses for limited fishery businesses. In addition to these improvement measures, we hope that further investigation and research on licenses for limited fishery business, which have been insufficient so far, will be conducted to promote the comprehensive use of fisheries resources and waters and the sustainable development of fisheries that are the objectives of the Fisheries Act, and contribute to the improvement of the quality of life of the people and the balanced development of the national economy.

• Journal of Legislation Research
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• no.41
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• pp.367-399
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• 2011

This Article examines the regulation of outsider trading under the Financial Investment Services and Capital Markets Act (the "Capital Markets Act"). Outsider trading occurs when a market participant who is not a traditional corporate insider trades securities based on either "inside" or "outside" nonpublic information. Unlike "inside" information, "outside" information is referred to as information not derived directly or indirectly from the issuer. "Outside" information includes both "corporate" and "market" information. "Corporate information" is information about events or circumstances which affect the company's assets or earning power. "Outside corporate information" is information about the company's assets or earning power not derived directly or indirectly from the issuer. "Market information" is information about events or circumstances which affect the market for a company's securities but which do not affect the company's assets or earning power. The Capital Markets Act prohibits both "temporary insiders" from using "corporate" information in trading securities and "outsiders" from using "market" information, such as (i) information regarding the initiation or discontinuance of a tender offer; or (ii) information regarding acquisition or disposition of stocks in bulk. However, the Act does not encompass circumstances (i) where an outsider trades securities based on confidential corporate information obtained through certain types of wrongful conduct; (ii) where an outsider trades securities based on corporate information obtained through eavesdropping; and (iii) where an outsider trades securities based on either outside corporate information or market information created by the outsider himself. In order to plug a few of the gaps left open in the law of outsider trading under the Capital Markets Act, this Article suggests that regulators adopt a relatively broad reading of the scope of ${\S}$ 178(1) of the Act, which is similar to SEC Rule 10b-5, to include outsiders with no relationship to the corporation that had issued the securities. Since ${\S}$ 178(1) of the Act does not require "deception" for liability, it would seem to evade the limitations imposed by the U.S. misappropriation theory. Key Words : Outsider Trading, Insider Trading, Material Nonpublic Information, the Capital Markets Act, Misappropriation Theory, Fiduciary Theory.