1. Introduction
The Korean futures market, including day time and night time, has become the largest futures market all around the world in terms of trading volume. Although Korean futures market has a variety of futures, the main underlying asset for futures that led the market to the summit is KOSPI 200 index, which is composed of diversified two hundred companies’ stocks traded in KOSPI ma
Definition_
Future market or system that allows trading of KOSPI 200 stock
index futures from 6:00 p.m. to 5:00 a.m.
Function_
Time expansion: 9:00 a.m. - 3:15 p.m. + 6:00 p.m. - 5:00 a.m.
Reduce risks arising from external variable
Plan out investment strategies
Increase overall liquidity of market
Reduce volatility caused by changes in foreign
이제까지의 분석에서는 소유구조와 위험선택 사이의 관계를 살펴봄에 있어서 주식수익률의 변동성을 위험 수준에 대한 척도로 사용하였고 계열화여부에 따라 이러한 관계를 나누어 살펴보았다. 여기에서는 위험 수준에 관한 척도를 달리하였을 때에도 위의 분석결과가 성립하는지를 살펴봄으로써