• Industrial Engineering and Management Systems
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• v.12 no.2
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• pp.85-94
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• 2013

This research investigates the supply chain contract between a distributor and a supplier in which the selling period is relatively short in comparison with long production lead time. At the first stage, supplier who is a Stackelberg leader offers the distributor a contract with a set of parameters, and subjected to those parameters, the distributor places the number of initial orders as well as options. In order to purchase the option, the distributor pays non-linear option premium price with respect to the number of purchased options. At the second stage, based on realized demand, the distributor has the right to exercise option as either put or call which is limited up to the number of purchased options. The wholesale price contract is used as a benchmarking contract. This research has confirmed that the supply chain contract with a non-linear option premium price can help to coordinate the supply chain.

• The Korean Journal of Financial Studies
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• v.3 no.2
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• pp.329-364
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• 1996

Writing naked put options is a strategy employed either as a speculation to capture premium income, or as a method of placing a limit order to buy the underlying at the strike price in return for premium received. Using a Monte Carlo simulation, twenty thousand equity prices are generated under known volatility and return parameters. A binomial tree is constructed using the same volatility and return parameters. Put options on these 'equities' are valued with the binomial methodology. The performance of various put writing strategies is evaluated on a risk-adjusted basis. Evidence presented suggests that the judicious use of put options may enhance returns during portfolio construction.

• Korean Management Science Review
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• v.27 no.3
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• pp.33-41
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• 2010

A lot of researches find negative volatility risk premium in options market. We can make a trading profit by exploiting the negative volatility premium. This study proposes negative volatility risk premium hypotheses in the KOSPI 200 stock price index options market and empirically test the proposed hypotheses with intra-day short straddle strategy. This strategy sells both at-the-money call option and at-the-money put option at market open and exits the position at market close. Using MySQL 5.1, we create our database with 1 minute option price data of the KOSPI 200 index options from 2004 to 2009. Empirical results show that negative volatility risk premium exists in the KOSPI 200 stock price index options market. Furthermore, intra-day short straddle strategy consistently produces annual profits except one year.

• KDI Journal of Economic Policy
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• v.41 no.3
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• pp.77-96
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• 2019

This paper examines the relation between the skill premium and international trade given differences in the relative supply of skills across countries while allowing the South (developing countries) to develop its appropriate technology. Typical assumptions put forward in the literature state that either technology is exogenously given, or technical change is allowed only in the North (developed countries). I present a model of international trade with endogenous growth by allowing the South to direct its technology. The results show that more R&D is directed towards skill-augmenting technology in the North than in the South, in sectors with the same skill-intensity. Technical change induced by lowering trade costs can increase the skill premium in both the North and the South. This result can explain the empirical observation that the skill premium has increased within many developing countries after they experienced trade liberalization. Finally, the model predicts larger gains from trade compared with the model where technical change is either not allowed, or allowed only in the North.

• Journal of Korean Institute of Industrial Engineers
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• v.41 no.3
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• pp.287-295
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• 2015

Due to the latest agreement between the military authorities of the Republic of Korea (ROK) and the United States (US) of America, Korea's annual contribution to the budget of the United States Forces Korea (USFK) rose as high as close to 1 trillion won. This seemingly prohibitive amount has led to the questioning of military critics regarding determination criteria, wholesomeness of cost, alignment of incentives, and implementational transparency, etc. As these sources of mistrust can potentially undermine the congruence of alliance, we attempt to devise a scientific means to test the validity of Korea's budget contribution. Specifically, we use the real options approach (ROA) to estimating the interval of the fair prices of maintaining the USFK. We consider the USFK as an insurance against foreign incursions, and this enables us to assume their role as a put option. Upon a hypothetical war breakout, the daily cumulative size of the Korean economy is estimated by implementing the simulated loss ratios of assets and population. As a result, the strategic value (put premium) of the USFK is exponentially higher the sooner the US forces are augmented following an intrusion. Also, Korea's payments toward the USFK in 2011 and 2012 appear theoretically fairly valued.

• Journal of Korean Institute of Industrial Engineers
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• v.38 no.4
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• pp.244-248
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• 2012

We present a simple numerical method for pricing American put options under a constant elasticity of variance (CEV) model. Our analysis is done in a general framework where only the risk-neutral transition density of the underlying asset price is given. We obtain an integral equation of early exercise premium. By exploiting a modification of the integral equation, we propose a novel and simple numerical iterative valuation method for American put options.

• Korean Journal of Digital Imaging in Medicine
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• v.5 no.1
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• pp.130-136
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• 2002

One of current trends of medical technology is analog to digital. Moreover, The Government put a premium on PACS(Picture Archiving and Communication System) for Medical Insurance in November, 1999. Therefore many hospitals are installing(or planning to install) PACS facilities on their buildings. However most of hospitals didn't consider PACS facilities in the beginning of construction. In particular, the Networking is one of the most difficult things for PACS installation. There is no space for network equipments, and no path for network lines, etc. To solve these problems, wireless network is proposed. The wireless network is divided to three parts mainly. One is the wireless communication for Local Area Network, another is the data transmission through a satellite for Tele-Radiology, and the last one is the technology using Bluetooth for each sub-system of PACS. But there are other problems in wireless systems, i.e., network bandwidth, system stability, interference with other devices. The purpose of this paper is to suggest the future and new trend of PACS including all the problems.

• Journal of Korean Society for Quality Management
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• v.42 no.2
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• pp.253-264
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• 2014

Purpose: The aim of this study is to gain a competitive advantage in the global marketplace by examining the current situation of three domestic Food Dehydrator companies' products. Food Dehydrators are sort of small domestic appliances(SDA), first introduced by Korean companies. Furthermore, this study suggests the improvement plans in the rapidly changing world situation. Methods: Evaluate through comparing three domestic Food Dehydrator companies' products based on the PQI(Premium Quality Index) model, developed by product quality evaluation experts group. Results: At first, we classified evaluation factors into three parts - usability quality, emotional quality - and each of the factors includes sub factors. Under this condition, the results of this study are as follows; the brand quality is remaining at a high satisfaction level compare to other two factors but emotional quality is assessed to be low. This study has shown at customers consider brand and usability quality factors as the most important factor due to the nature of the product. Conclusion: As the possibility of increasing customer needs such as product design and sensitive quality besides usability quality has risen in a competitive global market, the manufacturing companies in Korea are recommended to put forth the necessary effort to improve their product quality, especially in terms of emotional quality.

• Journal of the Korean Graphic Arts Communication Society
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• v.29 no.2
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• pp.71-82
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• 2011

Electronic display markets has been developed. The cathode ray tube of brown form recently celebrated their 100th by first display. Also LCD of flat form recently celebrated their 25th by second display and it has advantage of small volume, lower consumption power. But FPD has problem that is property of brittle and noncarrying by glass substrate. Therefore the arrival of portable electronics devices has put an increasing premium on durable, lightweight and inexpensive display components. It is flexible display by third display. Also electronics field such as printed wiring board, RFID, membrane switch prefer flexible display. The conductive pattern can be used mostly in field of electronic displays and electronics. This manufacture of conductive pattern in present used is screen printing. The the conductive pattern. It has advantages of flexibility, high conductivity, drying in low temperature, good conductivity. screen printing has problem that is low productivity and use not flexible substrate because of high fire temperature. This study was developed novel method to form the conductive pattern. It has advantages of flexibility, high conductivity, drying in low temperature, good conductivity.

• International Journal of Advanced Culture Technology
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• v.8 no.3
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• pp.45-53
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• 2020

Professor's role is one of various ways to improve students' academic achievement. Professors can be role models for students, motivate them to achieve higher performance, and have various influences on them. Therefore, depending on professor's role, students' attitudes and behaviors may be different, and their academic achievements may also be different. In this regard, this research focused on the intellectual growth that can be regarded as Chinese students' academic achievement. Thus, the importance of professor's intellectual stimulation behavior was emphasized and it was clarified as a way to improve the intellectual growth. Furthermore, students with a higher level of growth need strength, they are more likely to have higher intellectual growth because they put a premium on their self-growth. In order to increase the influence of professor's intellectual stimulation, we focused on the student's growth need strength. Thus, this research examined the moderating effect of growth need strength between intellectual stimulation and intellectual growth. The results showed that intellectual stimulation improved intellectual growth. In addition, growth need strength positively moderated the relationship between intellectual stimulation and intellectual growth. Therefore, it suggested the implications that professors should behave appropriate behavior according to students' personal characteristics.