• Title, Summary, Keyword: 포트폴리오 효과

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자산 포트폴리오 효율성 향상을 위한 상품선물의 공헌도에 대한 연구

  • Kim, Tae-Hyeok;Park, Jong-Hae;Gong, Bong-Jae;Gwon, Il-Jun
    • The Korean Journal of Financial Studies
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    • v.14 no.1
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    • pp.15-39
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    • 2008
  • 본 연구에서는 미국, 영국, 한국 금융시장의 주식, 회사채, 국채, 부동산지수와 상품지수로 구성된 포트폴리오에서의 상품지수의 역할을 실증적으로 제시하고자 했다. 일반적인 금융상품으로만 구성된 포트폴리오와 상품지수가 포함된 포트폴리오의 수익률과 위험을 비교 분석하여 상품지수의 포트폴리오 구성요소로서의 타당성을 검증했다. 또한, 국가별 통화정책의 변화에 따라 분석기간을 긴축정책기와 확장정책기로 구분하여 그 성과를 비교함으로써 상품지수가 인플레이션 헤지수단이 될 수 있는지를 확인하고자 하였다. 미국과 영국의 경우 GSCI지수는 긴축기에 다른 금융자산에 비해 위험대비 수익률이 높아 포트폴리오 편입비중이 크며, 포트폴리오의 효율성을 높이는 것으로 분석되었다. 영국의 경우 환율을 적용하기 전과 후의 분석결과가 크게 상이하지 않으나, 한국의 경우 환율을 적용한 GSCI지수의 포트폴리오 편입비중은 미국, 영국시장과 유사한 결과를 보이나, 환율과 GSCI지수를 각각 독립적인 자산으로 편입하여 분석할 경우 그 효과는 미미한 것으로 나타났다. 즉, 환율을 적용하여 편입한 GSCI지수의 포트폴리오 수익률 상승효과 중 상당한 부분이 환율로 인한 것이며, 해외시장의 경우와 단순히 비교하기는 어렵다는 점이다. 따라서, 우리나라의 경우는 미국, 영국과 달리 환율을 적용한 상품지수가 인플레이션에 대한 헤지수단이 되나, 환율효과가 지배적이므로 상품지수 자체의 공헌도는 높지 않다고 평가된다.

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Study on the Meaning of Student Portfolio Construction That Portfolio Competition Winners Experienced (경진대회 수상자를 통한 학생포트폴리오 작성 경험의 의미)

  • Han, Ji-Young
    • Journal of Engineering Education Research
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    • v.13 no.1
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    • pp.70-77
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    • 2010
  • The purpose of this study was to verify the educational value of student portfolio and to give the direction of making student portfolio. Qualitative research method was used to accomplish objectives of the study. 9 students who were winner in competition of student portfolio in I University at Incheon Province were interviewed. Data were recorded, transcribed and analyzed. Most students started to make student portfolio by compulsory, but they realized that it was necessary to start student portfolio from the lower grades. They had difficulties in not having materials of activities and hesitated at the beginning of making student portfolio even though they got standard form from the university. Students recognized that making student portfolio was effective tool because it could enhance self-reflection, awareness of importance of record, preparation of future, obtaining of motivation for anonther activities, getting self-confidence, and improvement of writing skill.

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한국 증권시장의 주가과잉반응에 관한 연구

  • Jang, Gyeong-Cheon
    • The Korean Journal of Financial Management
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    • v.10 no.2
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    • pp.319-345
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    • 1993
  • 한국 증권시장에서 1986년 이후 지속적으로 상장되어진 주식들을 대상으로 하여 그 과잉반응을 살펴보았다. 월별 수익률의 변화에 의거하여 불량, 중간, 우량 포트폴리오를 구성하고 각 포트폴리오의 다음달 수익률 변화를 살펴보았다. 즉, 과잉반응 현상으로 볼 수 있는 수익률의 반전형태를 살펴보았다. 불량 포트폴리오는 다음달에 양의 초과수익을 올려 과잉반응 현상을 보인 반면 다른 포트폴리오들은 뚜렷한 현상을 보이지 않았다. 1월효과 및 규모효과를 과잉반응과 연결하여 살펴보았으나 연관성이 찾아지지는 않았다. 전체적으로 우리나라 증권시장에서는 인간의 비합리성을 가정한 주가 과잉반응 현상이 존재한다고 할 수는 없는 것으로 나타났다.

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The Elements of E-Portfolio - Focused on the Portfolio of IT Company Designers (e-포트폴리오의 구성에 관한 연구-IT기업 디자이너 포트폴리오를 중심으로)

  • Park, Min-kyung;Jang, Sun-hee
    • The Journal of the Korea Contents Association
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    • v.19 no.6
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    • pp.204-213
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    • 2019
  • This study examines the ePortfolio structure of IT company design interns and the differences among companies in 'Cofolios' site for employment of design major students. First, we examine the common configuration steps of ePortfolios [1. Project Brief${\rightarrow}$2-1. Investigation and Analysis${\rightarrow}$2-2. Strategy development${\rightarrow}$2-3. Virtualization, Final Design${\rightarrow}$2-4. Presentation, Evaluation, and Improvement${\rightarrow}$3. Read More]. Secondly, all the sub-items used in the ePortfolio were organized into words and classified into 6 stages. Finally, this was analyzed by majors and companies. Through this, the interns of the IT companies can [2-2. Strategy development] and that they are actively utilizing the 'connectivity' attribute linking the links. In addition, interns confirmed that the ePortfolio was structured differently depending on their major and the desired company.

Factors Predicting the Effectiveness of Multiple Celebrity Endorsement (복수 유명인 옹호광고 효과에 영향을 미치는 요인들 연구)

  • Um, Namhyun
    • The Journal of the Korea Contents Association
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    • v.20 no.5
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    • pp.271-280
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    • 2020
  • The use of multiple celebrity endorsement is a common practice in advertising campaigns. However, little research has been conducted on the effects of multiple celebrity endorsement. In particular, the current study is designed to delve into what factors influence the effects of multiple celebrity endorsement. Portfolio-brand fit, portfolio-celebrity fit, and portfolio celebrity-consumer fit are three factors that affect a consumer's attitude toward the ad, the endorsed brand, and the purchase intention in the context of multiple celebrity endorsement. Study findings suggest that portfolio-brand fit, portfolio-celebrity fit, and portfolio celebrity-consumer fit positively affect attitudes toward the ad. In addition, as shown in the modified model, covariance among these three variables was found. Practical and theoretical implications were also discussed.

소외기업효과와 주가효과에 관한 실증적 연구

  • Jeong, Jae-Yeop
    • The Korean Journal of Financial Management
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    • v.13 no.1
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    • pp.221-235
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    • 1996
  • 본 연구는 우리나라 주식시장에 있어서도 소외기업효과와 주가효과가 존재하는지 그 여부를 검증하고자 하였다. 이를 위해 1992년부터 1995년까지 4년간을 분석기간으로 하고 한국증권거래소의 521개의 상장종목을 표본으로 사용하여 증권회사의 추천회수를 기준으로 한 소외도와 주가에 따라 포트폴리오를 구성하였다. 다음으로 시장조정모형과 시장모형을 사용하여 각 포트폴리오의 초과수익률을 구한 후 이를 살펴보았다. 그 결과 소외도와 주가에 따라 구성된 각 포트폴리오들의 분석기간동안의 평균초과수익률이 영과 통계적으로 유의하게 다르지 않으며, 포트폴리오들의 평균초과수익률 사이에도 통계적으로 유의한 차이가 없다는 것을 확인하였다. 이러한 본 연구의 분석결과는 소외기업효과와 주가효과의 존재에 관해 강한 의문을 던져주고 있다. 한편 1월효과의 존재를 뒷받침하며, 또한 소외도와 주가 사이에 상당한 관련성이 있음을 시사하는 실증적 증거도 발견되었다.

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e-Portfolio Design and Application Education Combining the Learning and Evaluation (학습과 평가를 통합한 e-포트폴리오 설계 및 활용 교육)

  • Kim, Sang-Su;Kim, Young-Hak
    • The Journal of the Korea Contents Association
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    • v.8 no.5
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    • pp.260-267
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    • 2008
  • The portfolio provides a method which can properly evaluate the student's long term period of learning and growth, and this allows students to have practical learning through self-reflection. However, following the realities of portfolio's operation, the portfolio is being operated formally just once only for the evaluation due to the difficulty of long custody and its time-consuming process. In this paper, after grasping the overall process of learning and the result of growth, we design the 'e-portfolio' which combines both learning and evaluation in order to minimize the physical constraint factors along with operating portfolio. After operating our newly designed 'e-portfolio' based on blog in order to verify it's effect, we found the meaningful changes in student's academic achievement and the positive possibility of its application to teachers. Therefore, with the operation of our suggested 'e-portfolio', we are expecting progressed and integrated portfolio education which combines the function of the learning and the evaluation.

The Influence of Completeness of the Learning-portfolio on Academic Achievement and Program Satisfaction of College Students Participating in the Learning-portfolio Program (학습포트폴리오 프로그램에서 학습포트폴리오의 완성도가 대학생의 학업 성취도 및 프로그램 만족도에 미치는 영향)

  • Seo, Eun Hee
    • The Journal of the Korea Contents Association
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    • v.19 no.1
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    • pp.16-23
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    • 2019
  • The purpose of this study was to examine the influence of completeness of the learning-portfolio on academic achievement and program satisfaction of college students participating in the learning-portfolio program. For the aim, the evaluation tool of the learning-portfolio was developed. It assesses the report of goals of the course, diaries of studying, and reflection journals. The data of the grade in the course connected with learning-portfolio, grade point average(GPA), and satisfaction surveys of learning-portfolio program for 389 college students joining in learning-portfolio program were gathered. The findings showed that the score in the evaluation tool of the learning-portfolio significantly and positively affects the grade in the course connected with learning-portfolio, GPA and the satisfaction of learning-portfolio program. The results imply that it is important to evaluate the quality of the learning-portfolio in order to improve the effect of learning-portfolio program.

A Study on Design Direction of e-Portfolio Based on the Current State Analysis of Portfolio Application of Domestic Elementary, Middle, and High School (국내 초.중등학교의 포트폴리오 활용 실태 분석에 기반한 e-포트폴리오 설계 방향에 관한 연구)

  • Kim, Sang-Su;Kim, Young-Hak
    • The Journal of the Korea Contents Association
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    • v.7 no.12
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    • pp.83-94
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    • 2007
  • The portfolio can be used as a methodology supporting the learning of constructivism. Recently, the use of portfolios has been increased gradually in the education field, but a study on the current state analysis and design direction of portfolios leaves much to be desired. In this paper, we analyze statistical data on the portfolio application of teachers in domestic elementary, middle, and high school. We also propose a design direction of e-portfolio needed in the society of knowledge information based on this analysis. The results of research show that the following problems will be improved: understanding portfolio, analyzing the current state according to the types of portfolio application, designing a distinguished system according to the level of school, expanding education of teachers with high career, and developing a guide helper. The design of total system that combines the learning and evaluation is needed to improve a problem that spends lots of time to make portfolio, and operates temporally and formally achievement evaluation. In addition, the design of e-portfolio supporting efficiently interaction and self-directed teaming is required.

Corporate Venture Capital and Technological Innovation: Effects of Investment Portfolio Composition (사내벤처캐피탈의 투자포트폴리오 운영성향과 기술혁신 효과)

  • Ahn, Hyunsoup;Yoon, Jeewhan
    • Journal of Technology Innovation
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    • v.26 no.4
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    • pp.29-56
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    • 2018
  • The purpose of this research is to examine whether investment portfolio composition affects the technological performance of corporate venture capital (CVC). The stages of investment are categorized from "start-up/seed", "early", and "expansion", to "later" stage. We posit and test that the investment stage composition in a portfolio is highly correlated with the growth potential and downside risk of the portfolio, which in turn influences an investor's innovation performance. To test this hypothesis, we used negative binomial panel regression with 21 years of deal data from 70 cases of CVC. The results show that there is an inverted U shaped relationship between investment portfolio composition and technological performance. This means that the more seed or early stage investment within the investment portfolio, the higher the innovation performance; however, if the amount of seed or early stage investment is over a certain level, the performance decreases. Further, this study finds that the external partners of a venture negatively moderate the inverted U shaped relationship between portfolio composition and innovation performance. We believe that corporate planners, venture capitalists, and policy makers will be helped by these results showing that companies can maximize their investment performance by considering the investment stage and progress of investments.