• Journal of Information Technology Services
• /
• v.19 no.2
• /
• pp.109-124
• /
• 2020

Facing the 4^th Industrial Revolution era, researches on artificial intelligence have become active and attempts have been made to apply machine learning in various fields. In the field of finance, Robo Advisor service, which analyze the market, make investment decisions and allocate assets instead of people, are rapidly expanding. The stock price prediction using the machine learning that has been carried out to date is mainly based on the prediction of the market index such as KOSPI, and utilizes technical data that is fundamental index or price derivative index using financial statement. However, most researches have proceeded without any explicit verification of the prediction rate of the learning data. In this study, we conducted an experiment to determine the degree of market prediction ability of basic indicators, technical indicators, and system risk indicators (AR) used in stock price prediction. First, we set the core parameters for each financial indicator and define the objective function reflecting the return and volatility. Then, an experiment was performed to extract the sample from the distribution of each parameter by the Markov chain Monte Carlo (MCMC) method and to find the optimum value to maximize the objective function. Since Robo Advisor is a commodity that trades financial instruments such as stocks and funds, it can not be utilized only by forecasting the market index. The sample for this experiment is data of 17 years of 1,500 stocks that have been listed in Korea for more than 5 years after listing. As a result of the experiment, it was possible to establish a meaningful trading strategy that exceeds the market return. This study can be utilized as a basis for the development of Robo Advisor products in that it includes a large proportion of listed stocks in Korea, rather than an experiment on a single index, and verifies market predictability of various financial indicators.

• The Journal of Asian Finance, Economics and Business
• /
• v.4 no.3
• /
• pp.5-17
• /
• 2017

This study extends research into whether disclosure of corporate and financial information is associated with firms' costs of equity capital. This study sets out to examine empirically the determinants of corporate disclosure in the annual reports of 37 largest and most liquid firms listed on Kazakhstan Stock Exchange (KASE) in Kazakhstan. It also reports the results of the association between company-specific characteristics and disclosure of the sample companies. Based on the analysis of existing empirical research, the disclosure index has been constructed and regression analysis of the influence of the disclosure index on the cost of equity capital has been conducted. The obtained results show that the received findings correlate with foreign empirical studies, and the disclosure index in this sample has a negative impact on the cost of equity capital. Using cost of equity capital estimates derived from capital asset pricing model, we find that firms with higher levels of financial transparency are associated with significantly lower costs of equity capital. Economic theory assumes that by increasing the level of corporate reporting, firms not only increase their stock market liquidity, but also decrease the investors' estimation risk, arising from uncertainty about future returns and payout distributions. The results show that firms on the Kazakhstan market can reduce their cost of equity capital by increasing the level of their voluntary corporate disclosures.

• The Journal of Asian Finance, Economics and Business
• /
• v.7 no.10
• /
• pp.241-254
• /
• 2020

International payment is an essential part of the economy, which is beneficial to both commercial banks and trading enterprises. Moreover, service quality, which has been a key point of discussion for decades, relates to customer satisfaction. This study aims to investigate the factors influencing international payment service quality at the Join Stock Commercial Bank for Investment and Development of Vietnam (BIDV) from 2015 through 2019. This research deploys both quantitative and qualitative methods to discuss the effects of these components. Statistical data was examined through different tests, including reliability analysis, correlation, and regression analysis by SPSS 16.0. The authors obtain and analyze 157 valid responses from customer surveys, then by applying an integration SERVPERF and PSQM model, identify five main components: Reliability, Tangibles, Assurance, Convenience, and Responsiveness, which explain how the customer perceives the service quality of international payment activities at BIDV. The results show that these five factors have a positive relationship with service quality, in which, Reliability has the most significant impacts on service quality level. Besides, the findings not only contribute to the literature but also give some practical implications for BIDV to improve its international payment service quality and help them to obtain customer satisfaction in the fast-changing environment.

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

• Journal of Information Processing Systems
• /
• v.2 no.1
• /
• pp.23-27
• /
• 2006

This paper presents a feature selection technique based on distributional differences for efficient machine learning. Initial training data consists of data including many features and a target value. We classified them into positive and negative data based on the target value. We then divided the range of the feature values into 10 intervals and calculated the distribution of the intervals in each positive and negative data. Then, we selected the features and the intervals of the features for which the distributional differences are over a certain threshold. Using the selected intervals and features, we could obtain the reduced training data. In the experiments, we will show that the reduced training data can reduce the training time of the neural network by about 40%, and we can obtain more profit on simulated stock trading using the trained functions as well.

• Journal of the Korean Society for Precision Engineering
• /
• v.33 no.4
• /
• pp.317-324
• /
• 2016

Stress tests were conducted in the carbody of the railroad car to check the structural strength of the body of the railroad car. The objective of this study was to evaluate safety of the carbody of a railroad car under the maximal strength. The carbody of rolling stock is a principal structure that supports major equipment of the underframe and the freight. Therefore, the strength evaluation of this structure is important. This study was carried out to analyze the structure of carbody and evaluate safety under maximum vertical load, compressive load, and torsional load. Accordingly, stress tests were conducted on the carbody to measure the stress on each of their parts. Before the load test, a structural-analysis program was used for the stress distribution analysis of the body structure.

• Proceedings of the Korean Society of Precision Engineering Conference
• /
• 2004.10a
• /
• pp.1105-1108
• /
• 2004

This paper describes the structural analysis result and load test result of accident EMU(Electric Multiple Units). Structural analysis and load test of EMU were performed for the criteria of safety assessment. Structural analysis using commercial I-DEAS software provided important information on the stress distribution and load transfer mechanisms as well as the amount of damages during rolling stock crash. The purpose of the load test is to evaluate a safety which carbody structure shall be considered fully sufficient rigidity so as to satisfy proper system function under maximum load and operating condition. The results have been used to provide the critical information for the criteria of safety assessment.

• Journal of the Korean Operations Research and Management Science Society
• /
• v.12 no.1
• /
• pp.27-33
• /
• 1987

A stochastic model for an inventory system in which depletion of stock takes place due to random demand as well as random loss of items is studied under the assumption that the intervals between cussessive unit demands as well as those between cussessive unit losses, are independently and identically distributed random variables having negative exponential distributions with respective parameters .mu. and .lambda. It is further assumed that leadtime for each order is an outstanding-order-dependent random variable. The steady state probability distribution of the net inventory level is derived under the continuous review (S -1, S) inventory policy, from which the total expected coast expression is formulated.

• The Journal of Asian Finance, Economics and Business
• /
• v.2 no.3
• /
• pp.41-46
• /
• 2015

Energy saving in the transport sector in the framework of the annual growth of energy consumption, the degree of negative impact on the environment and the amount of harmful emissions are becoming increasingly important. The article considers the world tendencies of energy consumption in transportation sector and emphasizes its dependency from oil. Also article describes the dynamics of energy use and CO₂ emissions from transport of city Almaty. In conclusion authors identify a number of problems in the transport sector, which hinder the implementation of energy efficiency measures and measures to reduce CO₂ emissions.

• Asian Journal of Business Environment
• /
• v.6 no.1
• /
• pp.5-12
• /
• 2016

Purpose - The purpose of this study is to investigate the effect of corporate governance practices such as (board size, board composition, CEO duality and audit committee) on the performance of selected Pakistani firms. Research design, data, and methodology - This study examines corporate governance structure by using the data of 80 non-financial firms listed on Karachi Stock Exchange Pakistan during 2010-2014. Hypotheses of the study were tested by using both descriptive and inferential statistics. Result - The findings indicate that board size and audit committee is positively related to the firm performance (ROA & ROE). In contrast, board composition and CEO duality are negatively related to the firm performance (ROA & ROE). As far as controlling variables is concerned, leverage is negative, whereas firm size is positively related to all measures of performance. Conclusions - Empirical findings concluded that corporate governance practices affect the firm performance. Therefore, it is suggested that managers should understand the governance mechanisms to work more efficiently in the firm.