Search results

1 – 10 of over 1000
Per page
102050
Citations:
Loading...
Available. Open Access. Open Access
Article
Publication date: 31 May 2002

Jin Yoo

This paper raises an issue of calculating a value at risk (VaR) of a stock price in the presence of daily price limits, suggests an appropriate methodology for it, and discusses…

68

Abstract

This paper raises an issue of calculating a value at risk (VaR) of a stock price in the presence of daily price limits, suggests an appropriate methodology for it, and discusses its practical implications. One finding is that the VaR with price limits is never bigger than without. It turns out that the discrepancy between the two VaRs increases as the confidence level rises, the holding period lengthens, the volatility goes up, or the price limits get tighter.

Details

Journal of Derivatives and Quantitative Studies, vol. 10 no. 1
Type: Research Article
ISSN: 2713-6647

Keywords

Available. Open Access. Open Access
Article
Publication date: 30 November 2005

Jin Yoo

Security design of asset-backed securities (ABS) could affect the value of the ABS and that of the issuing firm as well when there exists an information asymmetry between insiders…

41

Abstract

Security design of asset-backed securities (ABS) could affect the value of the ABS and that of the issuing firm as well when there exists an information asymmetry between insiders and outsiders of the firm, depending on the size of the assets sold. If the size is relatively small, the optimal security design will be such that the firm sells the risk-free, senior security (backed by the asset sold) to outsiders at a minimum size and retains the risky, subordinate security. If the size is large, the firm should sell outsiders both the risk-free security at a maximum size and the risky tranche at a minimum size. Meanwhile, if the firm has to sell an asset portfolio rather than an asset, the firm is better off by selling the portfolio through bundling the assets of the portfolio. It turns out that the bundling into senior and subordinate tranches is preferred to the bundling and selling to outsiders.

Details

Journal of Derivatives and Quantitative Studies, vol. 13 no. 2
Type: Research Article
ISSN: 2713-6647

Keywords

Available. Open Access. Open Access
Article
Publication date: 30 November 2010

Jin Yoo and Geun Beom Kim

The equity futures market was opened in May 6th, 2008 for the first time in Korea but nonetheless it has rarely been researched since. In this paper, we examine whether the…

52

Abstract

The equity futures market was opened in May 6th, 2008 for the first time in Korea but nonetheless it has rarely been researched since. In this paper, we examine whether the market, combined with the stock market, its underlying market, has been offering any arbitrage opportunities to market participants for the period of May 6th, 2008 to March 11, 2010, focusing on the two futures contracts of Samsung Electronics and Hyundai Motors, the two most actively traded ones. Our findings are as follows. First, there have been arbitrage opportunities for the two futures in either direction. Second, the average time period for an arbitrage opportunity was two seconds so arbitrage transactions were feasible indeed. Third, nevertheless, some arbitrage transactions ended up with a loss because the estimated spot price at maturity to carry out an arbitrage trading turned out to be significantly different from the realized one. The discrepancy in these two prices causes a seemingly very safe arbitrage trading a risky one. This risky feature of an arbitrage trading has never been addressed in depth in a paper or a book before, and is a major contribution of this paper.

Details

Journal of Derivatives and Quantitative Studies, vol. 18 no. 4
Type: Research Article
ISSN: 2713-6647

Keywords

Access Restricted. View access options
Article
Publication date: 2 March 2020

Yan Liang, Feng Zhao, Dong-Jin Yoo and Bing Zheng

The purpose of this paper is to describe a novel design method to construct lattice structure computational models composed of a set of unit cells including simple cubic…

619

Abstract

Purpose

The purpose of this paper is to describe a novel design method to construct lattice structure computational models composed of a set of unit cells including simple cubic, body-centered cubic, face-centered cubic, diamond cubic and octet cubic unit cell.

Design/methodology/approach

In this paper, the authors introduce a new implicit design algorithm based on the computation of volumetric distance field (VDF). All the geometric components including lattice core structure and outer skin are represented with VDFs in a given design domain. This enables computationally efficient design of a computational model for an arbitrarily complex lattice structure. In addition, the authors propose a hybrid method based on the VDF and parametric solid models to construct a conformal lattice structure, which is oriented in accordance with the geometric form of the exterior surface. This method enables the authors to design highly complex lattice structure, computational models, in a consistent design framework irrespective of the complexity in geometric representations without sacrificing accuracy and efficiency.

Findings

Experimental results are shown for a variety of geometries to validate the proposed design method along with illustrative several lattice structure prototypes built by additive manufacturing techniques.

Originality/value

This method enables the authors to design highly complex lattice structure, computational models, in a consistent design framework irrespective of the complexity in geometric representations without sacrificing accuracy and efficiency.

Details

Rapid Prototyping Journal, vol. 26 no. 6
Type: Research Article
ISSN: 1355-2546

Keywords

Access Restricted. View access options
Article
Publication date: 10 September 2018

Yoo Jin Kwon and Kyoung-Nan Kwon

The purpose of this study is to understand the values consumers pursue and roles consumers partake in selfie practice.

617

Abstract

Purpose

The purpose of this study is to understand the values consumers pursue and roles consumers partake in selfie practice.

Design/methodology/approach

A qualitative research method was adopted. In-depth interviews were conducted with selfie enthusiasts. Data were analyzed with grounded theory approach.

Findings

Diverse activities and reflections pertaining to selfies were analyzed, which uncovered three consumer roles departmentalized and the nine values that selfie practice generates for consumers. The three roles are subject, photographer and user of selfies, and the roles are orchestrated together or selectively performed if necessary. In consequence of the interplay of performances and expectations of the roles, consumers pursue and gain four collaboratively created values and five individually created values.

Originality/value

Findings of the study expand the understanding of values of selfie practice and consumer roles in Web 2.0.

Details

Qualitative Market Research: An International Journal, vol. 21 no. 4
Type: Research Article
ISSN: 1352-2752

Keywords

Access Restricted. View access options
Book part
Publication date: 11 October 2017

Augustine Pang, Ratna Damayanti and Eugene Yong-Sheng Woon

In 2015, Malaysia’s investment vehicle, 1Malaysia Development Berhad (1MDB), came under international scrutiny after it amassed a debt of US$11 billion (10.3 billion) (Wright &…

Abstract

In 2015, Malaysia’s investment vehicle, 1Malaysia Development Berhad (1MDB), came under international scrutiny after it amassed a debt of US$11 billion (10.3 billion) (Wright & Clark, 2015), which it had difficulty repaying. More disturbingly, investigators found that US$700 million (658 million) was transferred into the personal bank account of Malaysia’s prime minister, Najib Razak, founder and chairman of 1MDB’s advisory board (Wright & Clark, 2015). Najib was also accused of embezzling state money (Reuters, 2015) and damaging the image of the country (“Najib tried to bribe me”, 2015). This chapter aims to examine the strategies used by the Malaysian prime minister to repair his image in the 1MDB scandal, the effectiveness of these strategies, and how these impacted Malaysia’s public diplomacy efforts in restoring the country’s image and reputation. Findings showed that the prime minister denied wrongdoing, and simultaneously bolstered his position and promised to turn 1MDB around. In contrast to the current explication of Benoit and Pang’s (2008) image repair strategies, Najib’s way of attacking the accusers sheds light into how image repair strategies may be operationalized in the Asian context. A new image repair strategy – diversion – is proposed to be added to the existing framework.

Details

How Strategic Communication Shapes Value and Innovation in Society
Type: Book
ISBN: 978-1-78714-716-4

Keywords

Access Restricted. View access options
Article
Publication date: 14 September 2010

Madhu Viswanathan, Carlos Torelli, Sukki Yoon and Hila Riemer

This paper aims to study English as second language (ESL) consumers in the USA. The authors seek to focus on consumers who are literate in their native country, yet akin to fish…

1382

Abstract

Purpose

This paper aims to study English as second language (ESL) consumers in the USA. The authors seek to focus on consumers who are literate in their native country, yet akin to fish out of water due to language difficulties and unfamiliarity with the marketplace.

Design/methodology/approach

Using qualitative interviews of 31 informants and shopping observations of a small subset, the authors examined cognitive predilections, decision making, emotional trade‐offs, and coping strategies of ESL consumers.

Findings

The findings relate to cognitive predilections, decision making and emotional trade‐offs, and coping strategies of ESL consumers.

Originality/value

The authors analyze ESL consumers from a situational literacy perspective, viewing the situations faced by ESL consumers in terms of functional literacy skills. The findings provide a variety of new insights, and have important theoretical and practical implications for theory and practice.

Details

Journal of Consumer Marketing, vol. 27 no. 6
Type: Research Article
ISSN: 0736-3761

Keywords

Access Restricted. View access options
Article
Publication date: 1 January 2013

Christopher Shaffer and Olga Casey

The purpose of this study is to examine the portrayals of librarians in world cinema. In so doing, librarian stereotypes within film may be examined, but also those wishing to…

1193

Abstract

Purpose

The purpose of this study is to examine the portrayals of librarians in world cinema. In so doing, librarian stereotypes within film may be examined, but also those wishing to develop a collection of films featuring librarians and libraries will have a resource to which they may refer.

Design/methodology/approach

The authors approached this study as an annotated bibliography of the films studied. A synopsis of each film is provided as well as analysis of libraries and librarian roles within the context of each film.

Findings

Films from around the world tend to have many similar stereotypes concerning librarians. Whether those stereotypes are necessarily good or bad may lie in the eye of the beholder.

Originality/value

Although there have been numerous articles written on librarian stereotypes and librarians within literature, there has been relatively little written about librarians within the context of cinema.

Details

Collection Building, vol. 32 no. 2
Type: Research Article
ISSN: 0160-4953

Keywords

Access Restricted. View access options
Book part
Publication date: 5 December 2018

Han Shen, Xinge Li and Yangfan Zhang

With the development of tourism industry, online travel agencies (OTA) have gradually become an important channel for tourism product supplies and sales. Some OTAs provide…

Abstract

With the development of tourism industry, online travel agencies (OTA) have gradually become an important channel for tourism product supplies and sales. Some OTAs provide consumers with a platform for tourism guidance and online travel sharing. They not only satisfy some tourists’ desire to share their experiences but also provide reference for more consumers to choose travel products. This process is the process of value co-creation by customers and online travel companies. This study is conducted under DART theory, a theoretical framework of value co-creation composed of four dimensions, namely dialog, access, risk-assessment, and transparency. Brand equity is divided into four aspects: brand loyalty, brand awareness, customer perceived value, and brand image. This study uses the structural equation model to investigate the impact of customer value co-creation behavior on brand equity of online travel enterprises and interprets the process and mechanism of customer value co-creation behaviors for online travel business brand equity, which provides more efficient strategies and methods for platform interaction and value co-creation.

Access Restricted. View access options
Article
Publication date: 26 November 2010

Hyeon‐Lo Lee, Jong Beom Moon, Wang Jin Yoo and Dong Myung Lee

The purpose of this paper is to apply the real option method with fuzzy logic to value the government‐sponsored projects of advanced technology development for strategic selection…

643

Abstract

Purpose

The purpose of this paper is to apply the real option method with fuzzy logic to value the government‐sponsored projects of advanced technology development for strategic selection in an uncertain competitive environment.

Design/methodology/approach

For strategic selection of government‐sponsored industrial R&D projects, in this paper, Carlsson and Fúller's model was adopted which employs fuzzy logic to estimate the benefits and costs calculated from various scenarios and utilizes Black‐Scholes‐Merton model. The model of strategic selection is suggested for government R&D with fuzzy real option valuation (FROV) and the portfolio planning model from GE‐Mckinsey matrix as well.

Findings

FROV was found to be more appropriate to measure the strategic value than the traditional financial method (net present value, NPV, etc.). When the NPV is ambiguous in deciding whether to go or not to go, for instance, just below zero NPV and high volatility of expected benefit, FROV can offer the additive value of the project reflecting volatility of benefit due to the volatility.

Research limitations/implications

Based on insufficient practical data, this methodology should be verified with various projects and measuring volatility of pay‐off requires precise analysis. In addition, research opportunities are in the stepwise R&D project with fuzzy compound real option.

Originality/value

Many papers on economic analysis of R&D project are focused on NPV or cost‐benefit analysis in the public sector. Several attempts with real option have been conducted in the pharmaceutical field or the aerospace (NASA) industry but are not concerned with the fuzziness of expected benefit. Hence, in this paper, fuzzy logic is added to handle imprecise information on the Black‐Scholes‐Merton model with dividend paying.

Details

Asian Journal on Quality, vol. 11 no. 3
Type: Research Article
ISSN: 1598-2688

Keywords

1 – 10 of over 1000
Per page
102050