확정기여형 퇴직연금의 인출전략에 관한 연구

구기동 ( Gi Dong Koo ),송병선 ( Byung Son Song ),고장석 ( Jang Suk Ko ) 한국경영공학회 2011 한국경영공학회지 Vol.16 No.1

Retirement plan prioritizes the principle of asset allocation rather than the excessive control of investment risks since it characterizes the long-term investment. The enlargement of risk assets weight can lower the decreasing rate; the withdrawal strategy can increase risk assets because accumulated assets after retirement are invested in the long term. It offers a system for improving the investor`s forecasting ability by calculating the decreasing rate according to the variation of consumption rate in the selection of income drawdown. It provides an asset management guideline in the situation where the growth of defined contribution makes it necessary to educate employees regarding asset management. it focuses only on the performance improvement of employee`s investment as an investment strategy. This study serves to offer effective management strategies on the stage of withdrawal.

국내 취업 인구의 이동행태에 관한 연구

구기동 ( Koo Gi-dong ),홍정의 ( Hong Jung-yee ),장용원 ( Jang Yong-won ) 한국경영공학회 2020 한국경영공학회지 Vol.25 No.1

Population shift is a key factor in understanding the demographic situation of a country or region and is affected by its relative distance and location. The outflow of Koreans has been shifting from student studying abroad in the 1980s to advanced technology manpower since the 2000s. The number of foreign workers continued to expand due to the implementation of the industrial trainee system and the employment permission system. This study analyzed the trend of international migration of Koreans since 2000 and the flow of foreign laborers in Korea. Although the number of outbound travelers is higher than that of immigrants, the number of immigrants and outbound Koreans is similar in 2007. However, outbound Koreans have a similar trend, but the number of arrivals is increasing significantly. The number of immigrants has been much larger, but since 2008, the number of arrivals and departures has been in balance. The number of immigrants is higher than the number of outbound foreigners and the scale is continuously increasing. The main factors of Korean migrants are job search, family reunion, and housing. The scarce workforce in part was supplemented by the foreign labor force. In conclusion, the migration of Koreans is balanced between inflows and outflows starting from 2008, while foreigners are steadily increasing in inflows more than inflows. However, the size of the flow of Koreans could utilize the data, but could not be analyzed due to the lack of data on the working population and type of employment.

자산배분 시스템의 활용 및 성과에 관한 연구

구기동(Gi-Dong Koo),이종구(Chong-Gu Lee),서규훈(Gyu-Hoon Seo) 한국경영사학회 2011 經營史學 Vol.57 No.-

Optimal asset allocation decide asset weights under various constraints. Asset allocation system which include risk preference, asset allocation, and performance evaluation has been grown and is widely used in investment management industry. Its assets contain stock, bond and cash equivalents. This paper analyses asset allocation system, industrial uses, and performance measurement. The questionnaire were allocated to its users and returned to analyze their effects and problems. The empirical study was exercised to find optimal asset allocation and to measure its performance. Analysis data were Call(daily), CD(3 month), CP(3 month), KOSPI 200. The group was separated with two that the weight ratio of bond and stock was 50% versus 50% and the others was the 100% allocation of risk free asset . In the result of study the using satisfaction degree was not high but their use frequency was very high. The long-term users responded to high preference for asset allocation. The general asset allocation was biased on bond allocation totally and 5 year stock allocation was higher than 3 year allocation. This paper suggested the efficient asset allocation under the complex investment environment and investment system and proposed to rebalancing asset allocation based on the result of asset allocation system. The asset allocation system will use it in CRM gradually, performance evaluation and portfolio management. Finally the flexibility of asset allocation and the modification of input variables are requested for its users. 최적자산배분은 다양한 제약조건에서 포트폴리오를 구성하는 것으로 자산배분 시스템은 투자성향, 자산배분 그리고 성과측정을 포함하며 발전하여 왔다. 이러한 시스템은 실무분야에서 다양하게 활용되고 있으며 주식, 채권 그리고 현금성 자산의 효율적인 자산 배분을 실행한다. 본 연구는 자산배분 시스템의 발전, 활용도 및 운용성과를 분석하여 자산배분이 실무적으로 유용한지를 제시하였다. 사용자들을 대상으로 설문분석을 실시하여 자산배분 시스템의 활용 현황과 문제점을 살펴보았다. 또한 실증분석은 2차 계획법에 의한 자산배분과 그 운용성과를 분석하였다. 비교 그룹으로 채권과 주식을 50 : 50 으로 투자한 경우와 100% 무위험 자산에 투자한 경우로 나누었다. 설문분석에서 자산배분 시스템의 만족도는 높지 않은 것으로 분석되었지만 시스템이 업무활용에 기여하고 있다고 응답을 하였다. 특히 직장 근무 기간이 장기일수록 투자성향분석이나 자산배분에 기여한다는 응답을 보였다. 자산군의 자산배분 성과는 채권이 고수익이면서 상대적으로 위험이 작아 좋은 성과를 보여주고 있다. 변동성이 큰 주식에 대하여 업종별 자산배분에서 분석기간 3년을 대상으로 할 경우에는 자산배분의 효과가 나타났지만 분석기간 5년에서는 나타나지 않고 있다. 자산배분의 시스템적인 제시는 금융기관에서 투자자와의 관계를 증진시킨다. 또한 업무를 확장하는 효과를 가지고 있어 투자자에게 서비스를 제공함으로써 투자자를 창출과 관리를 수행할 수 있게 되는 것으로 분석되었다. 본 연구는 국내 개인 및 기관투자자가 투자 시점에서 자산배분 시스템을 활용하여 투자비중을 결정하는 과정에서 사용자의 만족도와 그 성과의 효율성을 살펴봄으로써 복잡한 투자환경하의 투자결정체계에 대한 방향과 개선사항을 제시하였다는 점에서 의의가 있다. 그러나 개인 투자자의 투자의사결정 프로세스나 모형에 대한 개발이 필요하며 계량화가 어려울 경우를 대비하여 시간분산투자나 분할매입매도 전략과 같은 직관적인 모형의 시스템화도 요구되고 있다. 투자자가 적극적으로 참여할 수 있는 자산배분에 대한 유연성의 확보, 투자자별 미래 예측이 상이할 경우 입력변수의 변경 등에 유연성도 개선될 필요가 있다.

뮤추얼펀드와의 비교를 통한 연금펀드의 운용전략과 성과에 관한 연구

민재형 ( Jae Hyung Min ),구기동 ( Gi Dong Koo ) 韓國保險學會 2008 保險學會誌 Vol.80 No.-

확정기여형 퇴직연금의 자산배분전략과 성과

민재형 ( Jae Hyung Min ),구기동 ( Gi Dong Koo ) 한국경영공학회 2011 한국경영공학회지 Vol.16 No.2

This study examines several asset allocation strategies of the defined contribution, and empirically compares their respective performance employing Sharp index and DEA (Data Envelopment Analysis) efficiency score. From the empirical analysis, it is shown that the performance of asset allocation strategy according to investors` risk preference turns out to be the best in terms of Sharp index. The performance of optimized asset allocation strategy follows next, and the one of life cycle asset allocation strategy places itself on the third. The longer the planning horizon becomes, however, the performance of the life cycle strategy exceeds the one of the optimized strategy. Regarding performance indicators, Sharp index gives higher score to the strategy of investing more in risky assets. On the contrary, DEA efficiency score provides the highest score to the optimized asset allocation strategy which has a low level of investment in risky assets. This result implies that the performances of competing asset allocation strategies should be evaluated employing both the traditional Sharp index and DEA efficiency scores suggested in this study to consider the relativity of the comparing strategies.

유리 섬유 함량과 수분 흡수률에 따른 polyamide 특성 변화

구기동,김경환,이기윤 충남대학교 바이오응용화학연구소 2007 응용화학공학 Vol.1 No.1

An elongation strength of engineering plastic is lower than metal but specific strength is higher than metal or almost same. Fiber glass is the most useful reinforcement filler, and it is added by 30~40 weight%. Moreover, aramide and carbon fiber come into the spotlight nowadays. Carbonate is a kind of good material as a reinforcement and inclusion material, and so many inorganic material is used. Polyamide used most of all engineering plastic has a good mechanical property in particular impact strength due to good crystalline plastic, so it is used as a industrial components of automobiles, various machines, electrical equipments and electronics. In this paper, we studied on property change of Polyamide due to glass fiber fraction and impact strength change of glass fiber reinforced Polyamide due to rate of water absorption.

불확실성하에서의 개인의 투자행태 및 투자결정요인

민재형,구기동 서강대학교 경영연구소 2004 서강경영논총 Vol.15 No.2