• Communications for Statistical Applications and Methods
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• v.27 no.1
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• pp.79-95
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• 2020

The globalization of financial markets has broadened investment opportunities. International investors' investment portfolios consist of financial instruments from various countries; consequently, the risks associated with economic dependence among countries should be carefully considered. Step-down equity-linked securities (ELS) are a structured financial product that have recently become popular among Korean investors. Payoffs are based on two or three stock indices from different regions; therefore, dependence between the indices should be reflected in the risk analysis. In this study, we consider a regime-switching copula model to describe the joint behavior of two stock indices- the Eurostoxx50 and the Hang Seng China Enterprises Index (HSCEI). These indices are commonly used as underlying assets of step-down ELS. Using historical data, we analyze the risk associated with step-down ELS through the probabilities of early redemption. A regime-switching copula model can accommodate complicated dependence. Thus, it should be considered in the risk analysis of step-down ELS.

• The Korean Journal of Financial Management
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• v.2 no.1
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• pp.21-34
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• 1986

The purpose of this study is to analyse the risk and uncertainty involved in the capital budgeting which is executed in long periods and requires massive capital expenditure. Under risk and uncertainty conditions, the estimates in the capital budgeting are random variables rather than known constants. Two approaches have emerged in performing economic analysis that explicitly incorporate risk and uncertainty conditions in the analysis. One approach is to develop a descriptive model which describes the economic performance of an individual investment alternative. But no recomendation would be forthcoming from the model. Rather, the decision-maker would be furnished descriptive information concerning each alternative; the final choice among the alternatives would required a separate action. The second approach is to develop a normative model which includes an objective function to be maximized or minimized. The output from the model prescribes the course of action to be taken. Owing to the fact that the normative approach considers the fitness of criteria for decision-making its reasonableness looks better. But it is almost imposible that we correctly and easily derive the individuals' utility function. So within we recognize the limits of the descriptive methods, it is more practicle to analyse the investment alternatives by sensitivity analysis.

• Journal of Multimedia Information System
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• v.8 no.4
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• pp.259-266
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• 2021

Security vulnerabilities have been reported in major design software systems such as Adobe Photoshop and Illustrator, which are recognized as de facto standard design tools in most of the design industries. Companies need to evaluate and manage their risk levels posed by those vulnerabilities, so that they could mitigate the potential security bridges in advance. In general, security vulnerabilities are discovered throughout their life cycles repeatedly if software systems are continually used. Hence, in this study, we empirically analyze risk levels for the three major graphical design software systems, namely Photoshop, Illustrator and GIMP with respect to a software vulnerability discovery model. The analysis reveals that the Alhazmi-Malaiya Logistic model tends to describe the vulnerability discovery patterns significantly. This indicates that the vulnerability discovery model makes it possible to predict vulnerability discovery in advance for the software systems. Also, we found that none of the examined vulnerabilities requires even a single authentication step for successful attacks, which suggests that adding an authentication process in software systems dramatically reduce the probability of exploitations. The analysis also discloses that, for all the three software systems, the predictions with evenly distributed and daily based datasets perform better than the estimations with the datasets of vulnerability reporting dates only. The observed outcome from the analysis allows software development managers to prepare proactively for a hostile environment by deploying necessary resources before the expected time of vulnerability discovery. In addition, it can periodically remind designers who use the software systems to be aware of security risk, related to their digital work environments.

• Research in Community and Public Health Nursing
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• v.17 no.2
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• pp.153-165
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• 2006

Purpose: The purpose of this study was to develop and test a structural model on cardiovascular disease risk factors among male manufacturing workers. Methods: Data were collected through questionnaires and health exams from 201 workers in a local electronic company during September 2004. Data analysis was done with SAS 9.1 for descriptive statistics and PC-LISREL 8.54 for covariance structural analysis Results: The overall fit of the hypothetical model to the data was moderate, it was modified by deleting five paths. The modified model had a better fit to the data($x^2=504.23$(p<001, df: 180), $x^2/df=2.80$, GFI=.95, RMR=.07, NFI=.90, PGFI=.64). Health behaviors and psychosocial distress were found to have significant direct effects on the cardiovascular disease risk factors. Self-concept had direct effect on psychosocial distress or health behaviors. Self-concept, work environment, and work condition had direct effect on social support. Work environment had indirect effect on psychosocial distress. Social support had indirect effect on health behaviors. But work environment and work condition were found to have little direct effect on health behaviors, psychosocial distress or cardiovascular disease risk factors. Conclusion: A cardiovascular health promotion program should therefore include psycho-social factors as well as health behavioral determinants in worksites.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2008.11a
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• pp.475-480
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• 2008

In BTL project, the operation cost covering upcoming 20 years is usually alloted more than construction cost although its plan is made in short time. Therefore, it is a key issue to forecast and to analyze operation risks in the process of making contract in order to successfully finish the BTL project and to ensure the profitability of business. However, only a few domestic professional management companies are capable to carry out funding and facility management. To manage the potential risks efficiently in BLT project, it's essential to prioritize the risk factors by means of considering economical risk level, non-economical risk level and occurrence frequency. Thus, this study suggests risk analysis model for improving efficiency of BTL project from operation company's perspective by means of survey. The suggested risk analysis model is expected to establish a risk management strategy which can improve the efficiency of management affairs in BTL project.

• Journal of Information Technology Applications and Management
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• v.16 no.3
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• pp.59-71
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• 2009

Hazard analysis identifies probability to hazard occurrence and its potential impact on business processes operated in organizations. This paper illustrates a quantitative approach of hazard analysis of information systems by measuring the degree of hazard to information systems using probabilistic risk analysis and activity based costing technique. Specifically the research model projects probability of occurrence by PRA and economic loss by ABC under each identified hazard. To verify the model, each computerized subsystem which is called a business process and hazards occurred on information systems are gathered through one private organization. The loss impact of a hazard occurrence is produced by multiplying probability by the economic loss.

• Journal of Korean Society of Water and Wastewater
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• v.35 no.6
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• pp.389-403
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• 2021

In this study, dual drainage system based runoff model was established for W-drainage area in G-si, and considering the various rainfall characteristics determined using Huff and Mononobe methods, the degree of flooding in the target area was analyzed and the risk was compared and analyzed through the risk matrix method. As a result, the Monobe method compared to the Huff method was analyzed to be suitable analysis for flooding of recent heavy rain, and the validity of the dynamic risk assessment considering the weight of the occurrence probability as the return period was verified through the risk matrix-based analysis. However, since the definition and estimating criteria of the flood risk matrix proposed in this study are based on the return period for extreme rainfall and the depth of flooding according to the results of applying the dual drainage model, there is a limitation in that it is difficult to consider the main factors which are direct impact on inland flooding such as city maintenance and life protection functions. In the future, if various factors affecting inland flood damage are reflected in addition to the amount of flood damage, the flood risk matrix concept proposed in this study can be used as basic information for preparation and prevention of inland flooding, as well as it is judged that it can be considered as a major evaluation item in the selection of the priority management area for sewage maintenance for countermeasures against inland flooding.

• Journal of the Korean Professional Engineers Association
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• v.34 no.5
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• pp.77-81
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• 2001

The industrial accident in subway of late is increasingly coming to the front as a serious problem of society because a scale of industrial accident is a large size, and powerfulness, while the percent of accident is decreasing as a result of industrial facilities with the largeness of equipment, automation, and high horse-powering. In this paper, a study on the estimation of accident loss prevention cost and risk analysis in subway construction is proposed as an alternative to the techniques currently used in the general construction projects safety. Then the concept of risk evaluation using a risk assessment model is presented to drive value of risk and numerical example for risk analysis. A means for this does grasp the importance of educational factor by way of analyzing the causes of accident through statistical data of labor department, emphasizing the necessity and the importance of safety education, being helpful to act safety by decreasing insecure activity which ranks the majority of accident causes with putting the education program, form, method into practice that are suitable for a place of business.

• Journal of the Korea institute for structural maintenance and inspection
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• v.2 no.4
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• pp.194-200
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• 1998

Risk, probability of failure, which includes various uncertainties and influential factors of performance should be accounted for in engineering system. Recently, several different methods to analysis risk evaluation evolved and one of the practical method is FOSM (First Order Second Moment Method ). FOSM method is derived in terms of terms coefficient of variance to uncertainties which influence various factor. For risk evaluation and uncertainty analysis in hydraulic design system, load-capacity relationship is adopted in this paper. Sample catchment with design of sewer system is applied, which plots safety factor vs. risk. Risk evaluation and uncertainty analysis are very to important develop optimal design model in hydraulic system

• Journal of the Korea institute for structural maintenance and inspection
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• v.3 no.2
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• pp.233-240
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• 1999

Even though the recent construction safety disasters not only result in the loss inside construction sites but also become to a large public disasters, safety activities are managed in an irrational way and safety rules are ignored in the construction sites which leads to occur same type of disasters repeatedly. In this paper, a fuzzy set theoretic approach to risk analysis is proposed as an alternative to the techniques currently used in the general construction projects safety. Then the concept of risk evaluation using linguistic representation of the likelihood, exposure and consequences is introduced. A risk assessment model using approximate reasoning technique base on fuzzy logic is presented to drive fuzzy values of risk and numerical example for risk analysis is also presented to illustrate the results.