Pension Service Research Articles

ANALISIS DAYA SAING EKSPOR JASA NEGARA ASEAN

This research aims to determine the export competitiveness of asean country's service sector’s. The data used to support this research is secondary data in the form of service sector export data, total exports, and Gross Domestic Product (GDP) Constant Price for the study period in 2015-2019. The analysis tools used are Klassen Typology, Location Quotient (LQ), Revealed Competitive Advantage (RCA), and Overlay analysis. Based on the results of overlay analysis by combining three analytical tools (Klassen Typology, LQ, and RCA), shows that the export competitiveness of the service sector owned by Singapore is insurance and pension services; charges for the use of intellectual property; telecommunications, computer, and information services; and other business services. Malaysia's export competitiveness of the service sector is personal, cultural, and recreational services, while the Philippines is telecommunications, computer, and information services. Meanwhile, Indonesia and Vietnam are ASEAN countries that do not have export-competitive service sectors.

A study on the willingness of undergraduate nursing students to participate in Time Banking voluntary pension service

A study on the willingness of undergraduate nursing students to participate in Time Banking voluntary pension service

The Impact of Continuous Transactions of the National Pension Service on the Investment Judgment of Individual Investors

본 연구의 목적은 국민연금의 연속 매매일 거래가 개인투자자의 투자판단에 영향을 미치는지를 분석하는 것이다. 본 연구는 금융감독원의 전자공시 시스템 오픈 API를 통해, Python Crawling 방식으로 자료를 확보하였다. 그리고 사건연구방법과 고정효과모형을 활용하여 데이터를 분석하였다. 연구결과 첫째, 사건연구에서 국민연금이 연속으로 매수거래를 할 때 시장의 누적 평균 비정상 수익률은 부(-)의 방향을 보임을 확인하였다. 둘째, 국민연금이 연속적으로 매도를 진행할 때 비정상 수익률은 정(+)의 방향을 보임을 확인하였다. 셋째, 회귀분석 결과 국민연금의 연속 매수거래는 개인투자자의 매수거래에 정(+)의 영향을 미치는 것으로 확인되었다. 본 연구의 시사점은 다음과 같다. 첫째, 국민연금은 시장이 하락할 때 반대로 매수하고, 시장이 상승할 때 반대로 매도하기 때문에 시장 안정화 역할을 한다고 볼 수 있다. 둘째, 개인투자자에게 국민연금의 연속 매수거래는 긍정적인 뉴스로 해석될 여지가 있다. 끝으로 국민연금의 연속거래에 관심을 보이는 투자자가 있으므로 연속거래 행태에 대하여 전략 노출 완화방안을 모색할 필요가 있다.

Say What You Are Looking At: An Attention-Based Interactive System for Autistic Children

Gaze-following is an effective way for intention understanding in human–robot interaction, which aims to follow the gaze of humans to estimate what object is being observed. Most of the existing methods require people and objects to appear in the same image. Due to the limitation in the view of the camera, these methods are not applicable in practice. To address this problem, we propose a method of gaze following that utilizes a geometric map for better estimation. With the help of the map, this method is competitive for cross-frame estimation. On the basis of this method, we propose a novel gaze-based image caption system, which has been studied for the first time. Our experiments demonstrate that the system follows the gaze and describes objects accurately. We believe that this system is competent for autistic children’s rehabilitation training, pension service robots, and other applications.

Instrument development and validation of the comprehensive ability of older people assessment scale.

AimThe study is aimed to develop and psychometrically test the Comprehensive Ability of Older People Assessment scale and classify the ability grades.DesignA cross‐sectional design was used for instrument development.MethodThe Comprehensive Ability of Older People Assessment scale was developed by a sample of 971 older people from 4 long‐term care institutions in China. The data were collected between April 2018 and March 2020. One‐way analysis of variance and multiple regression analysis was used to screen scale items, while focus group interviews were used to integrate the subjective and objective items. Confirmative factor analysis and expert judgment were applied to explore construct validity. Reliability was explored through internal consistency estimation using Cronbach's alpha and homogeneity evaluation using corrected item‐total correlations. Cluster analysis and discriminant analysis were used to segment the comprehensive ability assessment scores and discriminant function was established to determine the boundary value of each segment, using correlation analysis to perform reverse verification.ResultsFactor analysis yielded 40 items with six dimensions, including “mentation and cognitive,” “perception and communication,” “emotional problems,” “mental and behavioural problems,” “daily life and social participation,” and “skin and oral status.” The Cronbach's α was 0.951, while the dimensions showed Cronbach's α values ranging from 0.760–0.946. The rationality and scientificity of this scale were proved by the correlation analysis of reverse validation.ConclusionThe 4‐grade Comprehensive Ability of Older People Assessment scale is proved to be with good validity and reliability and should be considered for institutional assessors.ImpactAssessors can accurately evaluate older people's health status and nursing needs through this scale in long‐term care institutions, communities and hospitals, so as to provide accurate and high‐quality nursing services. It will become a scientific basis for the government to offer accurate pension subsidies, purchase pension services scientifically for older people and establish third‐party objective evaluation and supervision.

Research on the Incentive Mechanism of the Pension Service Supply Chain under Asymmetric Information

The information asymmetry between the pension service integrator and the pension service providers will affect the efficiency of the whole supply chain, and information sharing can solve this problem to a certain extent. To achieve information sharing, mutual trust is the first condition and mutual trust is also one of the important means of endogenous incentives. In this paper, the trust incentive coefficient is embedded in the principal-agent model. Considering the service capability coefficient, the communication degree coefficient, and the information sharing degree coefficient of the pension service providers, the trust incentive model of the supply chain of the pension service is constructed, the model is solved, and the conclusion is drawn. Finally, the correctness of the conclusion is verified by the numerical simulation using SAS software. The final results show that, under the condition of information asymmetry, the trust incentive coefficient of the pension service integrator to the pension service providers is positively correlated with the effort coefficient, the service capability coefficient, the communication coefficient, and the information sharing degree coefficient of the pension service providers, while it is positively correlated with the effort cost coefficient, the output sharing coefficient, and the risk aversion coefficient of the pension service providers. The variance of number and external environmental variables is negatively correlated. This research has shown that the trust is a means of incentive for pension service providers to share information. This research has a certain practical significance for improving the service efficiency of the pension services supply chain and optimizing the level of pension services.

KUALITAS PELAYANAN PENETAPAN PENSIUN OTOMATIS BERBASIS LESS PAPER BAGI PEGAWAI NEGERI SIPIL DI LINGKUNGAN PEMERINTAH PROVINSI SULAWESI UTARA

The purpose of this study was directed to examine the quality of service for determining less paper-based automatic pensions for Civil Servants in the North Sulawesi Provincial Government. This research is descriptive qualitative with data collection techniques in the form of interviews, observations and documentation. Implementation of the determination of less paper-based automatic pensions for Civil Servants in the North Sulawesi Provincial Government has not gone well, due to the absence of Standard Operating Procedures (SOP) for determining less paper-based automatic pensions, lack of transparency, weak socialization, weak data reconciliation, lack of human resources. The apparatus, there is no innovation in the development of less paper-based pension processing, the condition of civil servants who will enter the retirement age limit has not responded to the implementation of the less paper-based automatic pension determination. Therefore, it takes a strong commitment and desire from the North Sulawesi Provincial Government, especially the Regional Personnel Board of North Sulawesi Province in making innovations in developing less paper-based automatic pension determinations to create automatic pension service flows that meet service quality standards, making it easier for pension recipients to receive pension decisions.

Design and implementation of a smart elderly positioning management system based on wireless communication network

Wireless communication refers to long-distance transmission communication between multiple nodes without propagation through conductors or cables, and wireless communication can be carried out by radio and electromagnetic waves, etc. Judging from the current situation, the home space positioning design of the medical and elderly care communities is not perfect, which affects the traditional home care. Wireless communication can give wisdom, coordination, and development space in the smart elderly care space positioning design, allowing the elderly to interact, contact, and know their precise location and behavior. This article mainly studies the design and implementation of smart pension space positioning under BIM technology. This paper introduces the frontier of Internet-of-things technology and the theory of sensor network topology control. It uses basic IoT technology to implement the "point, line, and surface" combination of personnel placement algorithms, sensor network communication protocols, topology checks, security models, sensor network wireless communication units, and wireless communication technology. The basic technology and communication technology of personnel deployment based on BIM technology are introduced, the development strategy of wireless communications node is studied, the installation of equipment radio personnel and communication equipment is designed, and the system management platform for the design and development of staff placement in pension institutions is provided. The Web site's information service management, standardized procedures, optimized services, provision of information, intelligent management, and pension services. The experimental results of this paper show that the smart pension space positioning under the BIM technology solves the management loopholes in nursing homes, shortage of nursing staff, inefficiency, lack of services, and family conflicts. It improves the efficiency of the elderly by 25% and the safety index by 23–27%. The development of wireless communication technology promotes the development of intelligent pension space. It will be an important future development direction for the smart community pension.

Participant Investment Behavior and Investment Performance in Defined Contribution Plans: Evidence from Small Firms in South Korea

Purpose: We investigate participant behaviors and the investment performance of defined contribution (DC) plans. Design/methodology/approach: Using unique data of 420,839 participants in 47,442 workplace pension schemes for small firms in South Korea, we examine participant investment behavior and the investment performance of DC plans. Findings: We find that participants exhibit extreme risk avoidance in their pension management, leading to lower investment returns. Additionally, most participants choose few investment products and initiate no trades. Finally, the pension service provider’s DC investment menu affects participants’ investment performance. Research limitations/implications: Given that our sample only covers the DC plans of firms with less than 30 employees, our findings may not be generalized to larger firms. However, the findings of this paper suggest that corporate pension schemes require careful design to account for participants’ behavioral biases and their impact on retirement security, as well as the importance of plan design. Originality/value: This study contributes to corporate pension research by documenting the unique features of Korean DC plans in small-scale firms. Further this research presents the need for a pension policy for sustainable retirement income by showing the irrational investment behavior of employees in small-scale firms.

Institutional Pension Service: The Role, Dilemma and Way out of Social Workers-Taking H Pension Welfare Institution as an Example

With the intensification of the Chinese population aging trend, the demand for institutional pension is rising. As a delivery system of social welfare services, social work can promote the development of institutional pension services in China. In this respect, social workers should play the roles of service providers, demand and service evaluators, emotional and action supporters, resource linkers, resource and information managers in institutional pension, and promote the orderly progress of various services. However, through the case analysis of an H pension welfare institution, it is found that social workers and the H pension institution do not have a clear understanding of the role of social workers, and social work agency adopts “stocking” pattern for social workers, both of which lead to two dilemmas of role specialization and administrative tendency. In this regard, the following methods are proposed to solve the problem of role dilemma. The social work agency establishes long-term professional training mechanisms and incentive mechanisms. The H pension welfare institution needs to enhance its awareness of the role of social workers and give them more freedom to provide services. The government promotes the establishment of a sound incentive mechanism for the social work industry.

The market impact of futures trading by the National Pension Service (NPS) of Korea

The National Pension Service (NPS) of Korea is one of the largest institutional investors in the world and it has been known as the market stabilizer in the Korean stock market. Nevertheless, it is hard to find the research about the impact of the NPS on the futures market. We investigated the effect of the NPS’s trading KOSPI200 futures on the returns, the liquidity and the volatility of the market using the recent ten years’ transaction data. The main findings are as follows. First, the NPS’s net investment flow (NIF) in the KOSPI200 futures market shows the predictability about the returns of both KOSPI200 futures and KOSPI200 spot index. Second, the NPS’s NIF in the KOSPI200 futures market improves the liquidity of the KOSPI market, where the transactions involved in both the spot market and the futures market occur. Third, the NPS’s NIF in the KOSPI200 futures market reduces the volatility of both the KOSPI200 futures market and the KOSPI market. Unlike the prior studies showing that our futures market tends to increase the volatility of the stock market through the volatility transfer, our finding suggests that the NPS’s trading KOSPI200 futures contributes to decreasing the volatility in both markets. To the best of the authors’ knowledge, this paper is the first study that investigates the impact of the NPS’s trading KOSPI200 futures on the KOSPI200 futures market and the stock market. It shows that the NPS plays a role of the market stabilizer in the futures market. In addition, the NPS’s trading KOSPI200 futures also affects the KOSPI stock market, stabilizing it in terms of both the liquidity and the volatility.

Transactions of the National Pension Service of Korea in the KOSPI200 futures market

It is known that the National Pension Service (NPS) of Korea contributes to the market stability because it tends to pursue the negative feedback trading strategy in the Korean stock market. While many studies deal with institutional investors’ trading in the financial derivatives market, the NPS’s trading in the derivatives market is rarely studied. Using the NPS’s trading data for the period from January 2010 to March, 2020, the authors examine the transactions of the NPS in the KOSPI200 futures market. We find that the NPS’s net investment flow (NIF) in KOSPI200 futures is negatively associated with the past returns of KOSPI200 futures and the KOPI200 index. However, we also find that the NPS’s NIF of KOSPI200 futures is positively associated with its NIF in KOSPI200 stocks. Along with the legal restriction on the NPS’s trading in the derivatives market, the result suggests that the NPS uses KOSPI200 futures to deviate the problems related to non-synchronous trading in the spot market. To the best of our knowledge, this paper is the first study of the NPS’s transactions of KOSPI200 futures. The paper suggests that the NPS does not trade KOSPI200 futures for hedging or arbitrage profit but for complementing its transactions in the spot market of KOSPI200 stocks.

코스닥150 지수선물 시장에서 국민연금의 매매양태

[연구목적] 본 연구는 코스닥150 지수선물 시장에서 국민연금의 매매를 분석함으로써, 동 시장에서 국민연금의 투자행태 및 거래목적에 대한 시사점을 제공하고자 한다.<BR>[연구방법] 본 연구에서는 2019년 3월 4일부터 2020년 3월 31일까지 기간 동안 국민연금의 매매자료를 활용하여, 코스닥150지수선물 및 코스닥150지수의 과거 수익률, 그리고 이들 시장에서 국민연금의 순투자흐름(Net Investment Flow: NIF) 간의 관계를 추정하는 회귀분석을 수행하였다.<BR>[연구결과] 실증분석 결과, 코스닥150 지수선물 및 현물지수의 과거 수익률이 코스닥150 지수선물에 대한 국민연금의 NIF에는 유의한 영향을 미치지 않았으나, 코스닥150 종목 현물시장에서의 국민연금의 NIF에 통계적으로 유의한 음(－)의 영향을 미치는 것으로 나타났다. 또한 코스닥150 구성종목 현물시장에서 국민연금의 NIF는 지수선물 시장에서의 국민연금의 NIF에 통계적으로 유의한 양(＋)의 영향을 미치는 것으로 나타났다.<BR>[연구의 시사점] 앞의 결과는 코스닥150 지수선물 시장에서 국민연금이 추세추종 행태를 보이지 않음을 의미한다. 그리고 코스닥150 종목 현물 시장과 지수선물 시장에서 국민연금의 NIF 간 양(＋)의 관계는 국민연금이 헤지거래나 차익거래 목적으로 지수선물 시장에 참여했을 가능성이 높지 않음을 의미한다. 대신, 코스닥150 종목 현물 시장에서의 매매가 일시적으로 원활하지 않을 때 추적오차 또는 비동시적 거래 발생 위험에 대한 일종의 보완매매 목적으로 코스닥150 지수선물 시장을 활용했음을 시사한다.

Research on Rural Smart Pension Service System

Research on Rural Smart Pension Service System

An Effective Method of Evaluating Pension Service Quality Using Multi-Dimension Attention Convolutional Neural Networks

How to make an accurate evaluation of the quality of pension service has become the most important task. However, in the real world, many customs always forget to rate pension service. They only leave a few short, less semantic, and discontinuous review words below the service. This paper will propose an effective multi-dimension attention convolutional neural networks (MACNNs) model to analyze customer review texts and predict the pension service quality. In MACNN, the emoticon feature, sentiment feature, and word feature can be extracted together to construct feature space. And then attention layer and convolution layer work together to predict the service quality. Compared with the traditional machine learning methods and neural network methods, this method is more objective and accurate to reflect consumers’ real evaluation of pension service.

Pension Fund Monitoring and Corporate Debt Policy: Evidence from the Korean Market*

AbstractWe investigate whether the Korean National Pension Service, a corporate watchdog and major long‐term investor in South Korea, positively affects corporate financial policy. The Korean National Pension Service is less likely to influence corporate financial policy even among firms with high uncertainty and information opacity, which increases the importance of large shareholders’ monitoring role. Additionally, ownership by the Korean National Pension Service has statistically insignificant effects on firms’ performance and financial soundness.

Research on the Construction of Smart Pension System under the Background of Big Data

Based on the characteristics of China’s large population base, the speed of China’s aging population continues to grow, and the smart pension model has become the trend of China’s pension service. This paper will analyze the existing problems of China’s pension service from three pension models of home-based care, community care and institutional care, and analyze the development status and feasibility of smart pension service at home and abroad. On the basis of fieldwork, this study combined with the idea of big data to construct the structure of smart pension system from the infrastructure layer (IAAs), data and resource storage management layer (DAAS), basic service layer (PAAS) and business application layer (SaaS). The content of smart pension system includes smart medical system, smart community management system and other service systems. Finally, this paper puts forward some suggestions to realize the smart pension service system under the background of big data, which can provide reference for solving the problem of social pension.

Extending the Scope of ALM to Social Investment: Investing in Population Growth to Enhance Sustainability of the Korean National Pension Service

The Korean National Pension Service (NPS) is a partially funded and defined-benefit system. Although the accumulated Fund of the NPS has been increased gradually, this large fund is concerned about depletion in the near future due to the unprecedented aging population and the low fertility rate. In this study, we have developed an asset-liability management (ALM) model that endogenizes variables which were regarded as being exogenous by including them in investable assets. We present the multistage stochastic programming (MSP) formulation incorporating the population structure as a variable that is new to ALM. The optimal portfolio encompassing the investment in raising the fertility rate is obtained. Extending the scope of ALM to social investment is a new approach that has not been attempted in other ALM studies. We demonstrate that socially driven investments can also be a good investment asset in which the NPS should consider to invest.

A grey approach to site selection for nursing homes: An extension of the fuzzy analytic hierarchy process

The construction of more nursing homes has become one of the most needed pension services in China, and the issue of site selection is one of the most important steps in their construction. The problem of site selection for nursing homes is a complex system engineering problem that involves not only economic interests but also social interests. Due to the limitations of human thinking in the evaluation process, the evaluation value of a nursing home site might be an interval grey number. Moreover, the evaluation indicator system for nursing home locations is a two-layer system that has been neglected in the literature. Therefore, the fuzzy analytical hierarchy process is extended to a new grey approach, i.e., the grey analytic hierarchy process, which can solve the evaluation problems for a two-layer indicator system under an interval grey environment. By constructing a three-point interval grey number, grey evaluation criteria are given to obtain a judgment matrix for interval grey numbers. Definitions of the initial weights, nongreyness weights and integrated weights are proposed to find the best evaluation object. Finally, the effectiveness of the method proposed by this paper is verified by comparative analyses of other grey methods.

Analysis on the coupling coordination degree between regional economy and old-age service—A case study of Sichuan province

In the past decade, China’s aging problem has become increasingly prominent. Properly solving the social problems caused by an aging population bears on the overall interests of development. In this paper the regional economic level and pension service level in 2018 of all cities and prefectures in Sichuan province were calculated by using the coupling coordination degree model to calculate the coupling coordination degree of regional economy and pension service in Sichuan province in 2018. It is found that it is difficult to match the level of regional economy and old-age service in every city and state in Sichuan province. In terms of the level of regional economy, the level of old-age service and the coupling between them, there is no ideal situation in each city or state. Chengdu, which has the highest per ca-pita economic level, has only the ranks middle degree in the whole province in terms of per ca-pita endowment service resources.