• 제목/요약/키워드: leverage effect

검색결과 161건 처리시간 0.023초

전자무역에서 구매자와 판매자의 역할분석 (An Analysis the Role between the Buyer and Seller in the Field of e-Trade)

  • 이주원
    • 통상정보연구
    • /
    • 제7권3호
    • /
    • pp.195-212
    • /
    • 2005
  • International trade has been changed from traditional trade to e-trade due to the fast expanding of information technology like e-marketplace, EDI (Electronic data interchange) using Internet since mid of 1990's. e-Trade, as a new trade method, could handle every trade procedure such as market research, contract, customs clearance, logistics and payment using IT like internet without restriction of time and space. The evolution of transaction-based business model is upon us. The business models of many e-Marketplace in their early stages have typically been based on transaction fees. Many e-Marketplaces have even called out transaction revenues as a core element of their business plans. The transaction business represents the most simple of business models, but it does not provide a long-term sustain able advantage. For buyer's convenience, wide selection and test price hold appeal. For suppliers, the extended global market reach and direct access to customers and consortiums of customers is powerful. To maximize leverage of these new e-marketplace, you must from both a buyer perspective as well as a supplier perspective. Also required is a strategy that takes in account all of the various e-Marketplace transaction standards and one that allows the easy accomodation to new e-marketplace as the market change. These new e-marketplace will need to be factored into the sales channel strategies. To be successful, integration with these e-marketplaces should occur at a complete business process level. This study would suggest on the role of buyers and sellers for e-trade which could maximize effect of e-trade in order to cope with rapid changing IT environment and global trade environment. Therefore, this study suggests top priority tasks for implementing on the specialization strategy of e-trade process.

  • PDF

MUVIS: Multi-Source Video Streaming Service over WLANs

  • Li Danjue;Chuah Chen-Nee;Cheung Gene;Yoo S. J. Ben
    • Journal of Communications and Networks
    • /
    • 제7권2호
    • /
    • pp.144-156
    • /
    • 2005
  • Video streaming over wireless networks is challenging due to node mobility and high channel error rate. In this paper, we propose a multi-source video streaming (MUVIS) system to support high quality video streaming service over IEEE 802.1l-based wireless networks. We begin by collocating a streaming proxy with the wireless access point to help leverage both the media server and peers in the WLAN. By tracking the peer mobility patterns and performing content discovery among peers, we construct a multi-source sender group and stream video using a rate-distortion optimized scheme. We formulate such a multi-source streaming scenario as a combinatorial packet scheduling problem and introduce the concept of asynchronous clocks to decouple the problem into three steps. First, we decide the membership of the multisource sender group based on the mobility pattern tracking, available video content in each peer and the bandwidth each peer allocates to the multi-source streaming service. Then, we select one sender from the sender group in each optimization instance using asynchronous clocks. Finally, we apply the point-to-point rate-distortion optimization framework between the selected sender-receiver pair. In addition, we implement two different caching strategies, simple caching simple fetching (SCSF) and distortion minimized smart caching (DMSC), in the proxy to investigate the effect of caching on the streaming performance. To design more realistic simulation models, we use the empirical results from corporate wireless networks to generate node mobility. Simulation results show that our proposed multi-source streaming scheme has better performance than the traditional server-only streaming scheme and that proxy-based caching can potentially improve video streaming performance.

로버스트추정에 바탕을 둔 주성분로지스틱회귀 (Principal Components Logistic Regression based on Robust Estimation)

  • 김부용;강명욱;장혜원
    • 응용통계연구
    • /
    • 제22권3호
    • /
    • pp.531-539
    • /
    • 2009
  • 로지스틱회귀분석은 고객관계관리를 위한 데이터마이닝 분야에서 많이 사용되는 기법인데, 이 분야의 모형설정 과정에서는 연관성이 매우 높은 설명변수들이 모형에 함께 포함되어 다중공선성의 문제를 유발하며, 더욱이 회귀자료에 이상점들이 포함되면 최우추정량은 심각한 결함을 갖게 된다. 두 가지 문제점을 동시에 해결하기 위하여 로버스트주성분로지스틱회귀를 적용할 수 있는데, 본 논문에서는 주성분의 선정기준을 결정하는 모형을 개발하고, 주성분모형에서의 추정치에 미치는 이상점의 영향을 축소하기 위한 로버스트추정법을 제안하였다. 제안된 추정법은 다중공선성과 이상점이 유발하는 문제들을 적절히 해결해 준다는 사실이 모의실험을 통하여 확인되었다.

ICT 활용 역량이 실시간기업(RTE)역량과 공급사슬 성과에 미치는 영향 (Impact of ICT Capability on Real Time Enterprise Capability and Supply Chain Performance)

  • 김승기;박소현;노혜영;김승철
    • 산업경영시스템학회지
    • /
    • 제43권1호
    • /
    • pp.110-122
    • /
    • 2020
  • Many companies make considerable efforts in implementing supply chain management systems to increase their competitiveness. In particular, there are significant investments in their ICT (Information and Communication Technology) and supply chain. However, considerable diversity exists in how well firms have been able to assimilate ICT and leverage the business value of it. In addition, studies on supply chains, particularly Real Time Enterprise (RTE) competence, which is cited for rapid information sharing and dynamic capabilities for each role in the supply chain, are insufficient. The purpose of this paper is to explore and evaluate effect of ICT utilization capabilities, including 'ICT internal cooperative capabilities' and 'ICT operational flexibility capabilities', on RTE capabilities (flexibility, visibility and prediction) and supply chain performance. To validate the research model proposed in the study, survey was conducted on companies using ICT along the supply chain of manufacturing industries. 216 data were used, SPSS and AMOS were used for the analysis methods. Study results showed that ICT internal collaboration capabilities affect agility, one of RTE capabilities, but not visibility and prediction, and ICT operational flexibility capabilities have affected all three RTE capacities. And, RTE capabilities had a huge impact on supply chain performance as expected. In this paper, it has been found that the ICT capabilities in manufacturing are an important factor in improving RTE capabilities that are important in the supply chain and improving the performance of the supply chain.

애플리케이션 디스플레이 광고의 회피효과에 영향을 미치는 요인은 무엇인가? (What are the factors affecting avoidance the effects of the application display advertising?)

  • 정진택
    • 디지털융복합연구
    • /
    • 제10권11호
    • /
    • pp.253-260
    • /
    • 2012
  • 본 연구는 스마트폰 애플리케이션 디스플레이 광고회피에 영향을 미치는 요인들을 알아보고자 하는 목적에서 시작하였다. 본 연구결과를 요약하면 다음과 같다. 첫째, 광고의 지각된 침입성에 대한 요인분석 결과 단일 요인으로 나타났다. 또한 광고의 지각된 침입성은 광고회피에 유의미한 영향을 미치는 것으로 나타났다. 둘째, 스마트폰 이용동기에 대한 요인분석 결과 7개의 요인으로 나타났다. 즉, 정보획득, 오락성, 학습/업무활용, 멀티미디어 활용, 생활편의성, 시간 활용으로 나타났다. 학습/업무활용성 동기와 생활편의성 동기가 높으면 광고회피 수준이 낮은 것으로 나타났다. 마지막으로 스마트폰에 대한 관여도에 따라 광고에 대한 지각된 침입성에는 차이가 없는 것으로 나타났다. 고관여 집단이 저관여 집단보다 정보획득, 오락성, 사회적 관계형성, 멀티미디어 활용, 생활편의성, 시간활용 동기가 유의미하게 높은 것으로 나타났다. 본 연구결과는 스마트폰 애플리케이션 디스플레이 광고를 제작하는 광고실무자에게 스마트 폰 사용자가 광고회피 행위를 줄일 수 있는 해답을 줄 것으로 기대한다.

Feature Selection Using Submodular Approach for Financial Big Data

  • Attigeri, Girija;Manohara Pai, M.M.;Pai, Radhika M.
    • Journal of Information Processing Systems
    • /
    • 제15권6호
    • /
    • pp.1306-1325
    • /
    • 2019
  • As the world is moving towards digitization, data is generated from various sources at a faster rate. It is getting humungous and is termed as big data. The financial sector is one domain which needs to leverage the big data being generated to identify financial risks, fraudulent activities, and so on. The design of predictive models for such financial big data is imperative for maintaining the health of the country's economics. Financial data has many features such as transaction history, repayment data, purchase data, investment data, and so on. The main problem in predictive algorithm is finding the right subset of representative features from which the predictive model can be constructed for a particular task. This paper proposes a correlation-based method using submodular optimization for selecting the optimum number of features and thereby, reducing the dimensions of the data for faster and better prediction. The important proposition is that the optimal feature subset should contain features having high correlation with the class label, but should not correlate with each other in the subset. Experiments are conducted to understand the effect of the various subsets on different classification algorithms for loan data. The IBM Bluemix BigData platform is used for experimentation along with the Spark notebook. The results indicate that the proposed approach achieves considerable accuracy with optimal subsets in significantly less execution time. The algorithm is also compared with the existing feature selection and extraction algorithms.

외국회계감독기구의 등록이 감사보수에 미치는 영향 (The Effect of PCAOB on Auditing Fee)

  • 윤민;이진수
    • 디지털융복합연구
    • /
    • 제14권12호
    • /
    • pp.111-120
    • /
    • 2016
  • 외국회계감독기구인 PCAOB(Public Company Accounting Oversight Board)는 PCAOB 등록 회계법인에 대해 직접 해당국가에 방문하여 해당법인에 대한 감리를 수행한다. 국내 회계법인이 PCAOB에 해당 감사인이 등록할 경우에 국내뿐만 아니라 국외의 회계감독기구로부터 직접 품질관리 감리를 받을 가능성이 있으므로 자신의 감사와 관련된 품질시스템을 보다 더 세심하게 관리하게 될 것이다. 본 연구는 감사보수를 감사품질의 대용치로 하여 실증분석을 수행하였다. 본 연구의 가설검정을 위하여 회귀분석을 실시한 결과, 외국회계법인 제휴유무, 기업규모, 위험자산, 부채 레버리지, ROA, 그리고 주식시장관련 변수를 통제한 후에도 PCAOB 등록은 추가적으로 종속변수인 감사보수에 유의미한 설명력을 보였다. 이러한 결과는 외국회계감독기구인 PCAOB에 등록한 감사인은 그렇지 않은 감사인들 보다 양호한 감사품질을 제공할 것이라는 본 연구가설을 지지하며 향후 감사품질관리와 관련한 제도에 시사점을 준다고 하겠다.

제곱수익률 그래프와 TGARCH 모형을 이용한 비대칭 변동성 분석 (Squared Log-return and TGARCH Model : Asymmetric Volatility in Domestic Time Series)

  • 박진아;송유진;백지선;황선영;최문선
    • 응용통계연구
    • /
    • 제20권3호
    • /
    • pp.487-497
    • /
    • 2007
  • 일반적인 ARCH 형태의 모형들은 자산수익률의 급첨 (leptokurtic; heavy-tail) 성질과 변동성 집중 (volatility clustering) 현상 등의 특징을 잘 포착해내는 반면, 수익률의 부호에 따른 비대칭 레버리지 효과 (leverage effect)는 반영 할 수 없다는 단점을 가진다. 따라서 최근 금융 시계열 분야에서는 비대칭-조건부-이분산 시계열 모형에 대한 관심이 높아지고 있다. 본 연구에서는 국내 금융 시계열자료 (KOSPI, KOSDAQ, 환율, 채권, 주요종목의 주가)의 수익률 제곱을 그래프화 하여 비대칭 이분산성을 시각적으로 탐지하고 이를 바탕으로 비대 칭 TGARCH(1,1) 모형을 적합한 후 기존의 대칭 GARCH(1,1) 모형과 비교분석하고자 한다.

Why do Sovereign Wealth Funds Invest in Asia?

  • Zhang, Hongxia;Kim, Heeho
    • Journal of Korea Trade
    • /
    • 제25권1호
    • /
    • pp.65-88
    • /
    • 2021
  • Purpose - This paper aims to examine the determinants of SWFs' investment in Asian countries and to identify consistent investment patterns of SWFs in specific target firms from Asia, particularly China and South Korea. Design/methodology - This study extends the Tobin's Q model to examine the relationship between SWF investments in target firms and their returns with other firm-level control variables. We collect consistent data on SWF investments and the matched firm-level data on target firms, which of observation is 1,512 firms (333 in South Korea and 1,179 in China) targeted by 20 SWF sources during 1997-2017. The panel random effect model is used to estimate the extended Tobin's Q model. The robustness of the estimations is tested by the simultaneous equation models and the panel GEE model. Findings - The evidence shows that sovereign wealth funds are more inclined to invest in the financial sector with a monopoly position and in large firms with higher growth opportunity and superior cash asset ratios in China. In contrast to their investments in China, sovereign wealth funds in South Korea prefer to invest in strategic sectors, such as energy and information technology, and in large firms with high performance and low leverage. Sovereign wealth funds' investments tend to significantly improve the target firm's performance measured by sales growth and returns in both Korea and China. Originality/value - The existing literature focuses on examining the determination of SWFs investment in the developed countries, such as Europe and the United States. Our paper contributes to the literature in three ways; first, we analyzes case studies of SWF investments in Asian markets, which are less developed and riskier. Second, we examine whether the determination of SWF investment in Asian target firms depends on the different time periods, on types of sources of SWFs, and on acquiring countries. Third, our research uses vast sample data on target firms in longer time periods (1997-2017) than other previous studies on the SWFs for Asian markets.

임계 HAR 모형을 이용한 실현 변동성 분석 (Threshold heterogeneous autoregressive modeling for realized volatility)

  • 문세인;박민수;백창룡
    • 응용통계연구
    • /
    • 제36권4호
    • /
    • pp.295-307
    • /
    • 2023
  • HAR 모형은 간단한 선형 모형으로 실현 변동성의 장기기억성을 비교적 잘 설명할 수 있어 널리 쓰이고 있다. 하지만, 실현 변동성은 조건부 이분산성, 레버리지 효과, 변동성 집중 등과 같은 복잡한 특징을 보이고 있기에 단순 HAR 모형을 확장할 필요가 있다. 따라서 본 연구는 조건부 이분산성을 설명하는 GARCH 모형에 임계값에 따라 계수가 달라지는 비선형 모형인 임계 HAR 모형(THAR-GARCH)을 제안하고 그 추정 방법 및 예측 성능에 대해서 살펴보고자 한다. 보다 구체적으로 오차항의 등분산 가정을 벗어났기 때문에 모형의 계수를 추정하기 위해서 반복적인 가중최소제곱추정법을 제안하고 모의실험을 통해 일치성을 보였다. 또한 전세계 21개의 주요 주가 지수의 실현 변동성에 대한 예측 오차를 비교함으로써 제안한 GARCH 오차를 가지는 임계 HAR 모형이 일반적으로 더 우수한 예측력을 보임을 확인하였다.