Search results

1 – 4 of 4
Per page
102050
Citations:
Loading...
Available. Open Access. Open Access
Article
Publication date: 29 March 2022

Seyoung Park

In this paper, we view an individual's annuitization decision as an American style call option whose underlying asset is financial wealth, which controls the distance to…

485

Abstract

In this paper, we view an individual's annuitization decision as an American style call option whose underlying asset is financial wealth, which controls the distance to annuitization. We then derive a certain threshold of wealth over which the individual is optimal to annuitize all of her wealth. We particularly focus on the effects of liquidity constraints on the individual's optimal annuitization decision, concerning their effects on the optimal investment and consumption strategies. We show that the annuitization decision can be significantly affected by the extent to which individual borrowing is constrained. More specifically, the optimal decision is for the individual to annuitize earlier with the tighter liquidity constrains she is exposed to than initially planned. This is particularly relevant to today's pandemic situation especially with the growing concern about cutting credit limits.

Details

Journal of Derivatives and Quantitative Studies: 선물연구, vol. 30 no. 2
Type: Research Article
ISSN: 1229-988X

Keywords

Available. Open Access. Open Access
Article
Publication date: 4 June 2021

Hyo-Chan Lee, Seyoung Park and Jong Mun Yoon

This study aims to generalize the following result of McDonald and Siegel (1986) on optimal investment: it is optimal for an investor to invest when project cash flows exceed a…

653

Abstract

This study aims to generalize the following result of McDonald and Siegel (1986) on optimal investment: it is optimal for an investor to invest when project cash flows exceed a certain threshold. This study presents other results that refine or extend this one by integrating timing flexibility and changes in cash flows with time-varying transition probabilities for regime switching. This study emphasizes that optimal thresholds are either overvalued or undervalued in the absence of time-varying transition probabilities. Accordingly, the stochastic nature of transition probabilities has important implications to the search for optimal timing of investment.

Details

Journal of Derivatives and Quantitative Studies: 선물연구, vol. 29 no. 2
Type: Research Article
ISSN: 1229-988X

Keywords

Access Restricted. View access options

Abstract

Details

Handbook of Transport Systems and Traffic Control
Type: Book
ISBN: 978-1-61-583246-0

Access Restricted. View access options
Article
Publication date: 5 February 2018

Yong-Suk Kwon and Se-young Ju

The purpose of this paper is to examine descriptive sensory characteristics and consumer acceptability of eight commercial ready-to-eat cooked rice samples by 8 trained panelists…

649

Abstract

Purpose

The purpose of this paper is to examine descriptive sensory characteristics and consumer acceptability of eight commercial ready-to-eat cooked rice samples by 8 trained panelists and 50 consumers.

Design/methodology/approach

A total of 24 descriptive attributes for appearance, odor/aroma, taste/flavor, and texture were developed. Also Consumer Acceptability (CA) was performed for overall liking, appearance, flavor, and texture liking. All statistical analyses were using analysis of variance, principal component analysis (PCA), hierarchical cluster analysis (HCA), and partial least square regression (PLSR).

Findings

The overall liking score for the cooked white rice from C brand was the highest (6.43) among the eight samples. Three groups of eight commercial ready-to-eat cooked rice samples were obtained from PCA and HCA. The samples of cooked white rice from C, N, and O brand characterized by intactness, starch odor, translucency, whiteness, and glossiness were located on to the positive PLS 1, whereas the samples of cooked white rice from D and E brand characterized by scorched odor, cohesiveness, stickiness, and moistness were located on the negative side of PLS 2 in the PLSR analysis.

Originality/value

Further studies on the improvement of sensory quality for brown rice are necessary to increase CA in terms of health functionality of brown rice.

Details

British Food Journal, vol. 120 no. 2
Type: Research Article
ISSN: 0007-070X

Keywords

1 – 4 of 4
Per page
102050