• Journal of the Korea Academia-Industrial cooperation Society
• /
• v.14 no.11
• /
• pp.5809-5818
• /
• 2013

This study proposes a technology portfolio analysis method for technology outsourcing of pharmaceutical cooperations by applying the concepts of 'Pipeline Soundness' and 'Patent Validity'. This study also applied the developed portfolio analysis method to a 'real world case' of Amgen's acquisition of Onyx Pharmaceuticals to prove the applicability of the method to the real world cases and investigated the validity of the acquisition affair between the two companies. The results of portfolio analysis showed that Amgen's technology portfolio will be improved by acquiring Onyx Pharmaceuticals especially in cancer field which is their main field. So we concluded that Amgen's choice of Onyx pharmaceuticals as a source of technology outsourcing was reasonable. We think that the technology portfolio analysis method developed by this study will be a valuable tool for pharmaceutical cooperations for investigating their current technology status and selecting target companies for technology outsourcing.

• Korean Journal of Construction Engineering and Management
• /
• v.10 no.3
• /
• pp.122-129
• /
• 2009

Strategic planning is an essential function of senior management in any business firm. Planning involves the firm's behavior in an competitive market and adaptation of the company's resources towards the selected market strategy. This study presents a methodological procedure for strategic planning in global top-tier construction firms. This procedure consists of the following stages. First, analyzed growth of revenue in which weight of total construction firms' revenue shown in Global Top 225 Contractors(ENR). Second, analyzed specialty of construction products. The products are General Building, Power, Water Supply, Industrial/Petroleum Process, and Transportation. Third, analyzed business the portfolio plan. The business portfolio plan includes both local/overseas market and specification/diversification of construction products. It affects the subsequent choice of a benchmarking for development of each construction company. The choice of the benchmarking firm, among several available alternatives, should follow a careful analysis of the characteristics and benefits inherent in the implementation of each.

• East Asian mathematical journal
• /
• v.38 no.3
• /
• pp.277-292
• /
• 2022

This study investigates the convergence of the optimal consumption and investment policies in a binomial-tree model to those in the continuous-time model of Merton (1969). We provide the convergence in explicit form and show that the convergence rate is of order ∆t, which is the length of time between consecutive time points. We also show by numerical solutions with realistic parameter values that the optimal policies in the binomial-tree model do not differ significantly from those in the continuous-time model for long-term portfolio management with a horizon over 30 years if rebalancing is done every 6 months.

• Korean Medical Education Review
• /
• v.26 no.1
• /
• pp.41-47
• /
• 2024

The ultimate goal of career guidance is to help medical students develop a career plan that matches their personal characteristics, allows them to train in their desired subspecialty, and helps them to adapt well to medical practice after graduation. Gachon Medical School has designed a longitudinal career guidance program called GLORI (Gachon Longitudinal Orientation and Career Development), which is based on the outcome of each phase. The program consists of regular courses and portfolio-based career guidance from a mentor professor. In phase 2 (basic medical science), the "Career Seminar" course was developed. This course focuses on self-understanding through a psychological inventory, exploration of postgraduate career paths, and interviews with professors in specialties of interest. In phase 3 (the integration of basic and clinical science), the "Exploring Nonclinical Career Options" course was introduced. This course presents perspectives from doctors who have followed various pioneering career trajectories, including biomedical engineering, medical journalism, writing, public health, health care administration, the pharmaceutical and medical device industries, and other areas. All teaching methods were designed to encourage student participation. The assessment methods are assignment-based, including self-reflective reports and presentations. In addition, a portfolio-based career guidance program is implemented in phases 3 and 4 (clinical clerkship). It is expected that this case study will serve as a practical example for developing comprehensive career guidance programs for medical schools.

• Journal of The Korean Association of Information Education
• /
• v.16 no.1
• /
• pp.143-150
• /
• 2012

The choice of occupation has a great deal of influences on achievement of self-realization and living a good life in an individual's life. Especially, it is very significant for Elementary school students because they become to aware of career and develop. However, in the present, the career guidance is mainly concentrated in the solitary work, such as an aptitude test and printed materials. The perspective from the student, therefore, needs systematic and efficient system to accumulate activities and result of their various career guidance for individual career-related information. The system to improve elementary school student's career awareness based on e-portfolio has been developed. The developed system can effectively accumulate students' activities and result of their various career guidance and easily grasp their strengths and weaknesses of intelligence based on theory of multiple intelligences. Teacher also can easily grasp their student's talent through all sorts of graphs provided by the web site for career education.

• The Korean Journal of Financial Management
• /
• v.26 no.1
• /
• pp.165-188
• /
• 2009

This paper has suggested the methodology for the frontier portfolios and the optimal portfolio under the mean-VaR framework, not assuming the normal distribution and considering the investor's preferences for the higher moments of return distributions. It suggested the grid and rank approach which did not need an assumption about return distributions to find the frontier portfolios. And the optimal portfolio was selected using the utility function that considered the 3rd and the 4th moments. For the application of the methodology, weekly returns of the developed countries index, the emerging market index and the KOSPI index were used. After the frontier portfolios of the mean-variance framework and the mean-VaR framework were selected, the optimal portfolios of each framework were compared. This application compared not only the difference of the standard deviation but also the difference of the utility level and the certainty equivalent expressed by weekly expected returns. In order to verify statistical significances about the differences between the mean-VaR and the mean-variance, this paper presented the statistics which were obtained by the historical simulation method using the bootstrapping. The results showed that an investor under the mean-VaR framework had a tendency to select the optimal portfolio which has bigger standard deviation, comparing to an investor under the mean-variance framework. In addition, the more risk averse an investor is, the bigger utility level and certainty equivalent he achieves under the mean-VaR framework. However, the difference between the two frameworks were not significant in statistical as well as economic criterion.

• Management Science and Financial Engineering
• /
• v.19 no.2
• /
• pp.43-47
• /
• 2013

This paper studies an optimal consumption and portfolio choice problem for unemployed people who have an option to work. Our problem is to find optimal consumption, risky investment, and workforce re-entry strategies for the unemployed. We find a closed form of the critical wealth level to re-enter the workforce. We show that the unemployed with a higher disutility of labor or a larger relative risk aversion are more reluctant to re-enter the workforce.

• The Journal of Asian Finance, Economics and Business
• /
• v.9 no.3
• /
• pp.1-10
• /
• 2022

This research proposes a novel trading method based on sample entropy for the FTSE China A50 Index. The approach is used to determine the points at which the index should be bought and sold for various holding durations. The findings are then compared to three other trading strategies: buying and holding the index for the entire time period, using the Relative Strength Index (RSI), and using the Moving Average Convergence Divergence (MACD) as buying/selling signaling tools. The unique entropy trading method, which used 90-day holding periods and was called StEn(90), produced the highest cumulative return: 25.66 percent. Regular buy and hold, RSI, and MACD were all outperformed by this strategy. In fact, when applied to the same time periods, RSI and MACD had negative returns for the FTSE China A50 Index. Regular purchase and hold yielded a 6% positive return, whereas RSI yielded a 28.56 percent negative return and MACD yielded a 33.33 percent negative return.

• Journal of the Korean School Mathematics Society
• /
• v.3 no.1
• /
• pp.149-163
• /
• 2000

The Ministry of Education have had us practice the performance test as a substitute proposal, however, all the more for the idealistic purport, our education front does not have such a sufficient condition as to practice the performance test for many classes and miscellaneous duties and over-populated class, and that practice has been enforced so abruptly without any drastic preparation and has caused much confusion from the beginning of that enforcement. Thus, these problematic concerns are remained as the tasks of the teachers to be solved by themselves in the front of education, and herein I came to do this research. The followings are the conclusions that I got as the results of the research (1) Performance test style should be applied in consideration of the students' achievement level and the gap of the teachers' recognition; descriptive test, portfolio assignment and formative test styles were proper for the students lacking basic study ability. (2) Descriptive test should have its beginning with the question items to which students can write the problem solving procedure logically rather than those to evaluate the creation ability and thinking ability: and putting down specifically the assessment standard could prevent students' confusion and scheme the impartiality of the assessment. (3) Portfolio assignment evaluation should be given with as interesting and suitable amounts as possible so that the students can do by themselves. (4) Utilizing the performance test table enabled easy management of documentary evidence. And it is needless to say that the success of the performance test should have preceding conditions like the teachers' understanding and their positive participation. Therefore, I'd like to give suggestions herein like the followings; (1) The performance test should not always be made into grades, and there is a need to develop the test gradually in the condition that the education surroundings permit by checking time, frequency, ratio and contents of the test while practicing the multiple choice writing test. (2) As long as the performance test has the aims of improving the studying and learning activities, any performance test only for the sake of making numerals with the thought that assessment is the disposal of the grades should be avoided, and the change of the lecturing styles and development of various assessing types and studying materials should be endeavored to confirm with the aims.

• Asia-Pacific Journal of Business
• /
• v.13 no.1
• /
• pp.167-183
• /
• 2022

Purpose - The purpose of this study is to show the need to use the past long-term returns for investment decisions in U.S. equity funds and to suggest an investment strategy using long-term returns. Design/methodology/approach - This study solves the problem of high return volatility in long-term returns and proposes new investment portfolios based on the behavior of fund investors according to past returns. For the investment portfolio of this study, 60 months are divided into several periods and the average of the performance ranks for each period is used. Findings - First, funds with high average returns over multiple periods have lower future outflows and higher future returns than funds with high 60-month cumulative returns. Second, funds with low average returns over multiple periods have lower future inflows and lower future returns than funds with low 60-month cumulative returns. The findings mean that when making decisions based on past long-term returns, it is a smarter investment choice to buy funds with high average returns over multiple periods and sell funds with low average returns over multiple periods. Research implications or Originality - This study shows that it is necessary to use long-term returns in fund investment by analyzing the characteristics of the portfolio based on past returns. In addition, the study is meaningful in that it suggests a way to use long-term returns more efficiently based on the behavior of fund investors and shows that such investments lead to higher returns in the future.