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Open Access
Article
Publication date: 30 November 2011

Kang Min Ryu, Soo Hoon Park and Chang Moo Lee

People are starting to doubt business recovery in office market after global financial crisis in 2008. And most institutional and individual portfolios are undiversified in real…

15

Abstract

People are starting to doubt business recovery in office market after global financial crisis in 2008. And most institutional and individual portfolios are undiversified in real estate : incurring enormous transaction costs than other financial products. Especially office market has more risks than other real estate market for high transaction costs and many related industries. Although this stuff can lead to increase the risk of investment in office market, nor are there markets that would allow individuals and institutions to hedge their risks. The establishment of office price index future and option markets is likely to hedge away large risk in office market, and provides lowering transaction costs for trading in real estate. We estimate Office Price Index using S&P/Case-Shiller repeat sale estimator which is proposed by Robert. J. Shiller in 1991. The estimator is a sort of Feasible Generalized Two Stage Least Squares, which compute Value weighted Arithmetic Price Index.

Details

Journal of Derivatives and Quantitative Studies, vol. 19 no. 4
Type: Research Article
ISSN: 2713-6647

Keywords

Open Access
Article
Publication date: 29 February 2016

Sang Hoon Kang and Seong-Min Yoon

This paper investigates the impact of structural breaks on volatility spillovers between Asian stock markets (China, Hong Kong, India, Indonesia, Japan, Korea, Singapore, and…

11

Abstract

This paper investigates the impact of structural breaks on volatility spillovers between Asian stock markets (China, Hong Kong, India, Indonesia, Japan, Korea, Singapore, and Taiwan) and the oil futures market. To this end, we apply the bivariate DCC-GARCH model to weekly spot indices during the period 1998-2015. The results reveal significant volatility transmission for the pairs between the Asian stock and oil futures markets. Moreover, we find a significant variability in the time-varying conditional correlations between the considered markets during both bullish and bearish markets, particularly from early 2007 to the summer of 2008. Using the modified ICSS algorithm, we find several sudden changes in these markets with a common break date centred on September 15, 2008. This date corresponds to the collapse of Lehman Brothers which is considered as our breakpoint to define the global financial crisis. Also, we analyse the optimal portfolio weights and time-varying hedge ratios based on the estimates of the multivariate DCC-GARCH model. The results emphasize the importance of overweighting optimal portfolios between Asian stock and the oil futures markets.

Details

Journal of Derivatives and Quantitative Studies, vol. 24 no. 1
Type: Research Article
ISSN: 2713-6647

Keywords

Open Access
Article
Publication date: 29 February 2012

Hong-Bae Kim, Yeonjeong Lee, Sang Hoon Kang and Seong-Min Yoon

This study investigates the influence of theoretical determinants on the Korea sovereign CDS spreads from January 2007 to September 2009 based on structural credit risk model. For…

19

Abstract

This study investigates the influence of theoretical determinants on the Korea sovereign CDS spreads from January 2007 to September 2009 based on structural credit risk model. For the analysis of determinants on the sovereign CDS spread, this study adopts interest swap rate as reference interest rate, and decomposes yields curve into two components, ie, interest level and slope. Considering multivariate regression in level and difference variables, Stock returns and Interest rates have a significant effect on the CDS spreads among the theoretical determinants of structural credit risk models. CDS spreads may behave quite differently during volatile regime compared with their behavior in tranquil regime. We therefore apply Markov switching model to investigate the possibility that the influence of theoretical determinants of CDS spread has a regime dependent behavior. In all regimes Korean sovereign CDS spreads are highly sensitive to stock market returns, whereas in tranquil regime interest rates also have influence on CDS spreads. We conclude that for the efficient hedging of CDS exposure trader should adjust equity hedge ratio to the relevant regime.

Details

Journal of Derivatives and Quantitative Studies, vol. 20 no. 1
Type: Research Article
ISSN: 2713-6647

Keywords

Open Access
Article
Publication date: 31 August 2011

Sang Hoon Kang and Seong-Min Yoon

This paper investigates the price discovery, volatility spillover, and asymmetric volatility spillover effects between the KOSPI 200 market and its futures contracts market. The…

72

Abstract

This paper investigates the price discovery, volatility spillover, and asymmetric volatility spillover effects between the KOSPI 200 market and its futures contracts market. The investigation was performed using the VECM-DCC-GARCH approach. In the case of returns, we found a significant unidirectional information flow from the futures market to the spot market; this implies that the KOSPI 200 futures market plays an important role on the price discovery in the spot market. In addition, we found a strong bi-directional casualty involving the volatility interaction between the spot and futures markets; this implies that market volatility originating in the spot market will influence the volatility of the futures market and vice versa. We also found strong asymmetric volatility spillover effects between the two markets.

Details

Journal of Derivatives and Quantitative Studies, vol. 19 no. 3
Type: Research Article
ISSN: 2713-6647

Keywords

Open Access
Article
Publication date: 1 September 2023

Melany Hebles, Concepción Yániz-Alvarez-de-Eulate and Lourdes Villardón-Gallego

The debriefing is a procedure based on intra-team feedback, which has frequently been applied in university formation in health but has been less used in business. The aim of this…

Abstract

Purpose

The debriefing is a procedure based on intra-team feedback, which has frequently been applied in university formation in health but has been less used in business. The aim of this research is to analyse best practices in the actual implementation of debriefing in organisations, based on criteria the guidelines for carrying out each stage established in the procedure.

Design/methodology/approach

To achieve these goals, working teams from different organisations carried out 19 group-debriefing sessions on an authentic work problem. These sessions were observed and analysed following a qualitative approach.

Findings

After observing a debriefing session in 19 organisations, four categories related to its implementation have been identified: Self-analysis, information, planning and orientation of the development of the team.

Research limitations/implications

It is important to mention some limitations to this work. The major limitation was the lack of published literature related to the debriefing in the area of organisational management. The qualitative and exploratory nature of the study limits the generalisation of the results.

Practical implications

The research has practical implications as the characterisation and description of each phase favours the transfer to implement the debriefing technique adequately in different types of organisations.

Social implications

It has been observed that all forms of debriefing have a common purpose in learning and, team and employee development, due to the powerful transferability and usefulness of debriefing in different contexts. Therefore, knowing the correct use of debriefing is a breakthrough in this area. In addition, including this type of practice will not just facilitate a better performance, it will also help teams to learn to work in a team from their own experiences.

Originality/value

It has been characterised by the process of debriefing from the correct implementation of each phase through the analysis of the narratives that arise in the debriefing sessions carried out.

研究目的

匯報是一個基於團隊內部回饋的程序, 它常見於大學組建的醫療衛生方面, 在商業上則較少使用。本研究擬基於匯報程序中所建立的每個階段, 來分析在組織內實際進行匯報的典範實務。

研究設計/方法/理念

為達至研究目標, 來自不同組織的工作團隊, 就一個真實的工作問題進行了19個匯報會議。研究人員觀察這些會議, 並以定性研究法進行探討和分析。

研究結果

研究人員觀察於19個組織進行的匯報會議後, 找出了四個進行匯報會議的範疇, 自我分析、資料、計劃和團隊發展的取向。

實務方面的啟示

本研究提供了實務方面的啟示, 因研究結果確認了匯報每個階段的特徵的描述, 以及每個階段的描述, 這會幫助在不同種類的組織內進行匯報會議時, 舉行匯報使用之技巧得以靈活調動, 以發揮各技巧的最佳效果。

研究的原創性/價值

研究人員分析有關的匯報會議內的敘述, 並從會議每個階段的正確執行, 找出了匯報程序的各個特徵。

Details

European Journal of Management and Business Economics, vol. 32 no. 4
Type: Research Article
ISSN: 2444-8451

Keywords

Open Access
Article
Publication date: 10 November 2021

Younghee Noh

This study surveyed users and librarians who have been transforming libraries into a complex cultural space by reflecting the trends of the times, investigated and analyzed…

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Abstract

Purpose

This study surveyed users and librarians who have been transforming libraries into a complex cultural space by reflecting the trends of the times, investigated and analyzed various status of complex cultural spaces, including perceptional differences among different groups and made an attempt to present a direction for the diversification of library's role.

Design/methodology/approach

This study analyzes the difference between the level of importance and the level of satisfaction for the operational style and use of complex cultural spaces, current status and use of programs and services of libraries as well as the perceptual difference between librarians and users. In order to do so, opinions were collected from librarians who operate complex cultural spaces and users who use the spaces.

Findings

First, the study compared to see if there is a difference between the preferred complex cultural space of libraries and the type of complex cultural space actually provided by libraries. Libraries do not only have data spaces but also made education space, performance space, exhibition space, rest space, community space and experience space available for users. Users were found to more frequently use exhibition space, performance space, rest space and education space among other spaces whereas the utilization rate of community space and experience space was identified to be significantly low. Second, this study also compared to see if there is a difference between users' preference for the type of programs operated by library's complex cultural spaces and the actual programs offered. The comparison of perceived differences between librarians who are the operators of the programs and users who participate in the programs is to compare and improve the consistency of supply and demand. As a result, it was found that the supply and demand for educational programs were most consistent, which would lead to higher participation rate and enhanced operational performance and satisfaction with libraries. Lastly, investigations were carried out to see whether there is a difference in the levels of importance and satisfaction for the operation of complex cultural spaces and perceptional difference between libraries and users. Comprehensively analyzing the results, in the first quadrant of “Keep the Good Work,” librarians showed a higher level of perception compared to users. In particular, librarians were found to have a different perception towards programs (contents) compared to users. Based on such results, a systematic program must be considered when planning for library programs in order to increase uses' satisfaction. In addition, in the second quadrant of “Concentrate Here,” with a high importance and low satisfaction, users showed a high level of importance for programs (contents) whereas libraries identified accessibility as a more important factor, indicating a big perceptional difference between users and librarians.

Research limitations/implications

This study examines the differences between the opinions of operators who create complex cultural spaces and operate programs in the spaces and the opinions of users who participate in the spaces and programs, and it was found that no other studies in Korea and overseas have done the same yet. In addition, it carries a significant meaning in that it does not only investigate the perceptions towards importance and satisfaction, but also suggests improvement directions based on the perceptional differences between users and librarians. In other words, librarians who implement policies at actual sites seem to be able to reflect the results of this study and decide the operation direction of the library.

Originality/value

Users also participate in various services and programs that library's complex cultural spaces offer and enjoy their cultural life. It carries a significant meaning in that the study evaluates the importance-satisfaction of factors affecting the use of complex cultural spaces of libraries by examining perceptions of those users who actually have the experience of using library's complex cultural spaces when the number of libraries attempting to transform into a multicultural space increases. The study made an attempt to enrich the knowledge and understanding of users' visit/use of libraries, suggest improvement directions and factors to focus. Continuous efforts and additional studies must be made in order to vitalize library's complex cultural spaces and secure the position of a cultural facility as well as a communication space located at the heart of regional society.

Open Access
Article
Publication date: 7 August 2017

Bong-Jin Cho and Sun-Young Park

615

Abstract

Details

Asia Pacific Journal of Innovation and Entrepreneurship, vol. 11 no. 2
Type: Research Article
ISSN: 2071-1395

Open Access
Book part
Publication date: 14 October 2021

Lisa Sugiura

Abstract

Details

The Incel Rebellion: The Rise of the Manosphere and the Virtual War Against Women
Type: Book
ISBN: 978-1-83982-257-5

Open Access
Article
Publication date: 31 December 2007

Myoung-Kang Heo, Yong Jin Kim and Min-Sung Kim

The studies focusing on inbound logistics in the automobile industry have been limited because of the relatively small portion of logistics cost. But now it is recognized as one…

Abstract

The studies focusing on inbound logistics in the automobile industry have been limited because of the relatively small portion of logistics cost. But now it is recognized as one of the critical factors for efficient execution of supply chain management (SCM). The survey of suppliers in the automobile industry conducted in this study indicated significant relationships among logistics performance, logistics outsourcing, and performance evaluation level. This research is three-fold. First, current status of part supplier's logistics was analyzed by interviews with inbound logistics providers and suppliers. Second, management type of logistics was analyzed. There were three kinds of logistics -two kinds of logistics outsourcing and direct control by the supplier. Each type of logistics management showed differences about performance. Third, logistics performance evaluation and its relation with the actual logistics performance were presented. Comparable performance evaluation factors were selected, and it is shown that they had a correlation with actual performance.

Details

Journal of International Logistics and Trade, vol. 5 no. 2
Type: Research Article
ISSN: 1738-2122

Keywords

Open Access
Article
Publication date: 29 December 2020

Taiyatach Hirunrueng, Withida Patthanaissarnukool and Tanasri Sihabut

This study aimed to determine the initial odor concentration which commonly urges Thais to make complaints and to propose an off-site limit for odorous emissions.

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Abstract

Purpose

This study aimed to determine the initial odor concentration which commonly urges Thais to make complaints and to propose an off-site limit for odorous emissions.

Design/methodology/approach

Odor concentrations measured by Nasal Rangers® and face-to-face survey interviews were simultaneously conducted with 122 residents located near 101 manufacturing centers in 20 provinces of Thailand. Along with the measured values and odor strength verbally rated by trained assessors, the number of complaint intentions, annoyance levels and health symptoms of residents were reported.

Findings

The odor concentrations in the inspected houses were <2, 2, 4, 7, 15, 30 and 60 D/T. The trained assessors stated that at the concentration of 4D/T, most odors were likely to be objectionable and unbearable when odor concentrations were higher. Correspondingly, about 80% of residents exposed to odors at this level felt some annoyance and reported health symptoms and therefore intended to register a complaint. At lower concentrations, the annoyance level as well as the decision to complain likely depended on other factors such as hedonic tone and exposure frequency.

Practical implications

The proposed off-site reference value for odor complaint assessment was 4D/T. However, in the case of lower concentrations, additional relevant factors were crucially required to investigate the complaint.

Originality/value

This finding will help local authorities diminish subjective discretion on whether or not an odor constitutes a nuisance.

Details

Journal of Health Research, vol. 36 no. 1
Type: Research Article
ISSN: 0857-4421

Keywords

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