• 제목/요약/키워드: Price Risk

검색결과 541건 처리시간 0.024초

경기변동과 주택형태별 수익률에 관한 연구 (The Cross-Sectional Dispersion of Housing and Business Cycle)

  • 김종권
    • 대한안전경영과학회:학술대회논문집
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    • 대한안전경영과학회 2009년도 춘계학술대회
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    • pp.455-475
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    • 2009
  • 1992년부터 2007년까지의 실증분석 결과에 따른 우리나라 부동산시장 가격과 관련된 시사점으로서는 첫째, 미국과 달리 경기 침체시나 경기 회복 시에 뚜렷한 차이점을 발견할 수는 없었다는 점이다. 둘째, 전국아파트 매매가격이 상승할 경우 통화당국에서 인플레이션율 목표관리에서 참고하여야 할 것임을 나타내고 있다. 참고로 1986년부 터 2002년까지 미국 대도시지역의 아파트와 상가, 사무실의 순가격상승율을 패널데이 타로 추정한 자료에 따르면, 이들은 거시경제변수와 단기이자율, 이자율간의 스프레드 차이, 인플레이션 등에 영향을 받는 것으로 나타났다. 이들 자산가격상승률은 경기상황과 반비례관계를 갖는 것으로 나타났는데, 이는 대부분 대출 및 신용과 관련되어 있기 때문이다. 그리고 이는 부동산시장에서 자산 간 수익률 격차를 크게 넓힐 수 있음을 지적하고 있다.

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건강보험 약품비 구성 분석을 통한 지출효율화 방안 연구 (The Composition of Pharmaceutical Expenditure in National Health Insurance and Implications for Reasonable Spending)

  • 이혜재
    • 보건행정학회지
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    • 제28권4호
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    • pp.360-368
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    • 2018
  • Background: The proportion of pharmaceutical expenditure out of total health-care expenditure in South Korea is high. In 2016, 25.7% of national health insurance (NHI) spending was for pharmaceuticals. Given the increasing demands for the access to newly introduced medicines and following increase in pharmaceutical spending, the management of NHI pharmaceutical expenditure is becoming more difficult. Methods: This study analyzed the data claimed to NHI for pharmaceutical reimbursement from 2010 to 2016. Results: The policy implications with respect to the trends and problems in spending by drug groups were elicited. First, the proportion of off-patent drugs spending which were treated to chronic disease was much higher than anti-cancer drug spending. Second, the spending to the newly introduced high-costed medicine increased, however, current price-reduction mechanism was not sufficient to manage their expenditure efficiently. Conclusion: Our system seems to need several revisions to improve the efficiency of pharmaceutical expenditure and to cope with high-costed medicines. This study suggested that the prices of off-patent drugs need to be regularly readjusted and the Price-Volume Agreement System should be operated more flexibly as well.

The Effects of Intellectual Capital and Financial Leverage on Evaluating Market Performance

  • OBEIDAT, Samer;AL-TAMIMI, Khaled;HAJJAT, Emad
    • The Journal of Asian Finance, Economics and Business
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    • 제8권3호
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    • pp.201-208
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    • 2021
  • This study aimed to identify the key factors that affect the financial market performance (Price-Earnings Model) through a sample of 35 public shareholding industrial companies on the Amman Stock Exchange for the period 2010-2019, using statistical models and methods, such as the Simple Linear Regression Model, Correlation Coefficient, and dispersion board. The study results showed the nonexistence of a statistically significant effect between the intellectual capital and market value added (MVA) and market performance. Results also showed a statistically significant positive effect between financial leverage (FL) and the market performance, where the interpreted variation reached 64%. It showed from the analysis results that the relationship between (MVA) and market performance (P/E) agrees with the study hypotheses, while the result related to (FL) disagrees with the study hypotheses. The study recommends that public shareholding industrial companies should focus more on intellectual capital and show its value in the annual financial statements and reports, and those companies that have high profitability and the chance to hold gains and profits should rely less on debt and more on retained earnings, due to the high risk of debt and in line with the present unstable circumstances in Jordan, especially in light of the global Covid-19 crisis.

Pricing Strategy within the U.S. Streaming Services Market: A Focus on Netflix's Price Plans

  • Kweon, Heaji J;Kweon, Sang Hee
    • International Journal of Contents
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    • 제17권2호
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    • pp.1-8
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    • 2021
  • Online streaming wars are intensifying. Netflix is known as the market leader in the streaming business. However, since 2019, Netflix has been losing subscribers in the United States and is at a turning point where it needs to reassess its current position in the market. While Netflix is losing dominance, rivals Amazon Prime and Hulu continue to gain market shares. Studies from Deloitte and PricewaterhouseCoopers indicated a new shift in the streaming landscape caused by the abundance of streaming options and rising subscription costs. Recent surveys showed that consumers are excited about new streaming services, such as Disney +. Nearly two-thirds of consumers intend to terminate or downgrade one or more of their current subscriptions to make room for a new service. Moreover, it seems that consumers want ad-supported options. In Deloitte's latest Digital Media Trends survey, 65% responded that they would watch ads to eliminate or reduce subscription costs. Seventy percent of Hulu's subscribers choose its lower-priced ad-supported plan. NBC recently launched its own streaming service, Peacock, with a free ad-supported option. This opposes Netflix's brand identity of "no ads" and premium differentiation. With increasing pressure from competition and the growing risk of subscriber loss, Netflix needs to diversify its price plans. The company could try implementing the lower-priced mobile-only plan they are currently testing or plan to test in other regions. Netflix should also consider features or benefits for loyal subscribers to maintain a stronger consumer base.

국내산 친환경농산물 만족도와 수입산 유기농산물 구입의향 관계 분석 (An Analysis of Relationship between the Level of Satisfaction of Domestic Products and Purchase Intention of Imported Organic Products)

  • 한재환;정학균
    • 한국유기농업학회지
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    • 제29권2호
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    • pp.159-171
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    • 2021
  • The purpose of this paper is to analyze the relationship between the level of satisfaction of domestic Environment-friendly agricultural products and purchase intent of imported organic products. To accomplish the objective of the study a consumer survey was administered for quantitative analysis regarding consumption patterns. The bivariate probit with sample selection model was employed for empirical analysis on the relationship. The estimation results showed that to increase continuously the consumption, it is necessary to improve the quality satisfaction compared to the price, and that it is also necessary to increase the reliability of the certification system and the awareness that the consumption is helpful for health promotion to increase the quality satisfaction compared to price. In addition, it was concluded that in order to induce the purchase of domestic organic products rather than imported organic products, efforts to improve the safety of domestic products, remove the risk of residual pesticides, and increase the reliability of domestic products compared to imported products are needed. Therefore, to reduce the proportion of purchases of imported organic products and increase the consumption of domestic products, raising awareness that the consumption is conducive to health promotion, enhancing the safety of domestic products, and providing accurate information on the safety of imported products are required.

Stock Price Prediction and Portfolio Selection Using Artificial Intelligence

  • Sandeep Patalay;Madhusudhan Rao Bandlamudi
    • Asia pacific journal of information systems
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    • 제30권1호
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    • pp.31-52
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    • 2020
  • Stock markets are popular investment avenues to people who plan to receive premium returns compared to other financial instruments, but they are highly volatile and risky due to the complex financial dynamics and poor understanding of the market forces involved in the price determination. A system that can forecast, predict the stock prices and automatically create a portfolio of top performing stocks is of great value to individual investors who do not have sufficient knowledge to understand the complex dynamics involved in evaluating and predicting stock prices. In this paper the authors propose a Stock prediction, Portfolio Generation and Selection model based on Machine learning algorithms, Artificial neural networks (ANNs) are used for stock price prediction, Mathematical and Statistical techniques are used for Portfolio generation and Un-Supervised Machine learning based on K-Means Clustering algorithms are used for Portfolio Evaluation and Selection which take in to account the Portfolio Return and Risk in to consideration. The model presented here is limited to predicting stock prices on a long term basis as the inputs to the model are based on fundamental attributes and intrinsic value of the stock. The results of this study are quite encouraging as the stock prediction models are able predict stock prices at least a financial quarter in advance with an accuracy of around 90 percent and the portfolio selection classifiers are giving returns in excess of average market returns.

책임형 CM 발주방식의 최대공사비보증계약 사례연구 - 미국 공공발주 프로젝트 사례 중심 - (CM at Risk Case Study on Guaranteed Maximum Price Contract - Focused on Cases for USA -)

  • 정진학;한종훈;이주성;안용한
    • 한국건설관리학회논문집
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    • 제20권3호
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    • pp.22-30
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    • 2019
  • 최근 건설 사업이 복잡해지고 대형화 되며 발주자의 요구사항 또한 다양해지고 있다. 그에 따라 책임형 CM 발주방식이 대두되었지만 국내 책임형 CM 프로젝트 수행사례는 민간 부분에서만 몇 차례 진행되었고 국내의 건설사의 프로젝트 경험 및 자료도 부족한 실정이다. 또한 건설 프로젝트는 다수의 프로젝트 주체들이 가시화 되지 않은 결과물에 대한 목적, 기간, 비용, 각 당사자의 권리와 책임, 이익 등을 합의하여 계약으로 명문화 하는 특성을 갖기 때문에 계약서의 작성 및 관리는 계약의 목적물인 프로젝트의 성공적 수행과 매우 밀접한 관계가 있다. 따라서 본 연구에서는 책임형 CM 발주방식이 보편화 되어있는 미국의 사례 중 GMP 계약 방식으로 수행된 프로젝트의 계약서에 대해 고찰하여 GMP 구성요소 및 프로세스에 대한 공통 요소를 도출하고 국내 책임형 CM 프로젝트 수행 시 이용 될 수 있는 기초자료를 제안 하였다. 본 연구에서 도출해 낸 GMP구성 요소 및 프로세스는 국내 시범사업이 완료된 이후에 국내와 해외 사례를 비교 분석하여 국내에 효과적인 적용 법에 대한 추후 연구가 진행 될 수 있을 거라 판단된다. 또한 건축물 종류별 GMP 요소를 비교하여 건물 종류별 적합한 적용 법에 대한 연구도 진행 될 수 있을 것이라 사료된다.

코스피 200 변동성지수를 이용한 옵션투자 정보시스템의 개발 (Development of Options Trading System using KOSPI 200 Volatility Index)

  • 김선웅;최흥식;오정환
    • 한국IT서비스학회지
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    • 제13권2호
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    • pp.151-161
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    • 2014
  • KOSPI 200 index options market has the highest trading volume in the global options markets. The risk and return structure of options contracts are very complex. Volatility complicates options trading because volatility plays a central role in options pricing process. This study develops a trading system for KOSPI 200 index options trading using KOSPI 200 volatility index. We design a database system to handle the complex options information such as price, volume, maturity, strike price, and volatility using Oracle DBMS. We then develop options trading strategies to test how the volatility index is related to the prices of complicated options trading strategies. Back test procedure is presented with PL/SQL of Oracle DBMS. We simulate the suggested trading system using historical data set of KOSPI 200 index options from December 2008 to April 2012.

Novel Continuous Auction Algorithm with Congestion Management for the Japanese Electricity Forward Market

  • Marmiroli Marta;Yokoyama Ryuichi
    • Journal of Electrical Engineering and Technology
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    • 제1권1호
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    • pp.1-7
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    • 2006
  • In an electricity market, the spot market is normally integrated with a forward or future market. The advantage of the forward market is to allow the market participants to deal in a part or the whole trading portfolio at a fix price in advance and to avoid risk associated to the uncertain price of the spot market. Japan has introduced a continuous auction base forward market from April 2005. This paper analyzes the Japanese forward market rules and operations, and introduces a new algorithm that may improve the efficiency of the market itself. The proposed algorithm enables us to give consideration to the specific characteristics of the power system and to integrate them in the auction mechanism. The benefits of the proposed algorithm are verified on an electronic simulation platform and the results described in this paper.

OPTION PRICING UNDER STOCHASTIC VOLATILITY MODEL WITH JUMPS IN BOTH THE STOCK PRICE AND THE VARIANCE PROCESSES

  • Kim, Ju Hong
    • 한국수학교육학회지시리즈B:순수및응용수학
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    • 제21권4호
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    • pp.295-305
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    • 2014
  • Yan & Hanson [8] and Makate & Sattayatham [6] extended Bates' model to the stochastic volatility model with jumps in both the stock price and the variance processes. As the solution processes of finding the characteristic function, they sought such a function f satisfying $$f({\ell},{\nu},t;k,T)=exp\;(g({\tau})+{\nu}h({\tau})+ix{\ell})$$. We add the term of order ${\nu}^{1/2}$ to the exponent in the above equation and seek the explicit solution of f.