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Business Relationships and Structural Bonding: A Study of American Metal Industry (산업재 거래관계와 구조적 결합: 미국 금속산업의 분석 연구)

  • Han, Sang-Lin;Kim, Yun-Tae;Oh, Chang-Yeob;Chung, Jae-Moon
    • Journal of Global Scholars of Marketing Science
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    • v.18 no.3
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    • pp.115-132
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    • 2008
  • Metal industry is one of the most representative heavy industries and the median sales volume of steel and nonferrous metal companies is over one billion dollars in the case America [Forbes 2006]. As seen in the recent business market situation, an increasing number of industrial manufacturers and suppliers are moving from adversarial to cooperative exchange attitudes that support the long-term relationships with their customers. This article presents the results of an empirical study of the antecedent factors of business relationships in metal industry of the United States. Commitment has been reviewed as a significant and critical variable in research on inter-organizational relationships (Hong et al. 2007, Kim et al. 2007). The future stability of any buyer-seller relationship depends upon the commitment made by the interactants to their relationship. Commitment, according to Dwyer et al. [1987], refers to "an implicit or explicit pledge of relational continuity between exchange partners" and they consider commitment to be the most advanced phase of buyer-seller exchange relationship. Bonds are made because the members need their partners in order to do something and this integration on a task basis can be either symbiotic or cooperative (Svensson 2008). To the extent that members seek the same or mutually supporting ends, there will be strong bonds among them. In other words, the principle that affects the strength of bonds is 'economy of decision making' [Turner 1970]. These bonds provide an important idea to study the causes of business long-term relationships in a sense that organizations can be mutually bonded by a common interest in the economic matters. Recently, the framework of structural bonding has been used to study the buyer-seller relationships in industrial marketing [Han and Sung 2008, Williams et al. 1998, Wilson 1995] in that this structural bonding is a crucial part of the theoretical justification for distinguishing discrete transactions from ongoing long-term relationships. The major antecedent factors of buyer commitment such as technology, CLalt, transaction-specific assets, and importance were identified and explored from the perspective of structural bonding. Research hypotheses were developed and tested by using survey data from the middle managers in the metal industry. H1: Level of technology of the relationship partner is positively related to the level of structural bonding between the buyer and the seller. H2: Comparison level of alternatives is negatively related to the level of structural bonding between the buyer and the seller. H3: Amount of the transaction-specific assets is positively related to the level of structural bonding between the buyer and the seller. H4: Importance of the relationship partner is positively related to the level of structural bonding between the buyer and the seller. H5: Level of structural bonding is positively related to the level of commitment to the relationship. To examine the major antecedent factors of industrial buyer's structural bonding and long-term relationship, questionnaire was prepared, mailed out to the sample of 400 purchasing managers of the US metal industry (SIC codes 33 and 34). After a follow-up request, 139 informants returnedthe questionnaires, resulting in a response rate of 35 percent. 134 responses were used in the final analysis after dropping 5 incomplete questionnaires. All measures were analyzed for reliability and validity following the guidelines offered by Churchill [1979] and Anderson and Gerbing [1988]., the results of fitting the model to the data indicated that the hypothesized model provides a good fit to the data. Goodness-of-fit index (GFI = 0.94) and other indices ( chi-square = 78.02 with p-value = 0.13, Adjusted GFI = 0.90, Normed Fit Index = 0.92) indicated that a major proportion of variances and covariances in the data was accounted for by the model as a whole, and all the parameter estimates showed statistical significance as evidenced by large t-values. All the factor loadings were significantly different from zero. On these grounds we judged the hypothesized model to be a reasonable representation of the data. The results from the present study suggest several implications for buyer-seller relationships. Theoretically, we attempted to conceptualize the antecedent factors of buyer-seller long-term relationships from the perspective of structural bondingin metal industry. The four underlying determinants (i.e. technology, CLalt, transaction-specific assets, and importance) of structural bonding are very critical variables of buyer-seller long-term business relationships. Our model of structural bonding makes an attempt to systematically examine the relationship between the antecedent factors of structural bonding and long-term commitment. Managerially, this research provides industrial purchasing managers with a good framework to assess the interaction processes with their partners and, ability to position their business relationships from the perspective of structural bonding. In other words, based on those underlying variables, industrial purchasing managers can determine the strength of the company's relationships with the key suppliers and its state of preparation to be a successful partner with those suppliers. Both the supplying and customer companies can also benefit by using the concept of 'structural bonding' and evaluating their relationships with key business partners from the structural point of view. In general, the results indicate that structural bonding gives a critical impact on the level of relationship commitment. Managerial implications and limitations of the study are also discussed.

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A Study on the Critical Success Factors of Social Commerce through the Analysis of the Perception Gap between the Service Providers and the Users: Focused on Ticket Monster in Korea (서비스제공자와 사용자의 인식차이 분석을 통한 소셜커머스 핵심성공요인에 대한 연구: 한국의 티켓몬스터 중심으로)

  • Kim, Il Jung;Lee, Dae Chul;Lim, Gyoo Gun
    • Asia pacific journal of information systems
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    • v.24 no.2
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    • pp.211-232
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    • 2014
  • Recently, there is a growing interest toward social commerce using SNS(Social Networking Service), and the size of its market is also expanding due to popularization of smart phones, tablet PCs and other smart devices. Accordingly, various studies have been attempted but it is shown that most of the previous studies have been conducted from perspectives of the users. The purpose of this study is to derive user-centered CSF(Critical Success Factor) of social commerce from the previous studies and analyze the CSF perception gap between social commerce service providers and users. The CSF perception gap between two groups shows that there is a difference between ideal images the service providers hope for and the actual image the service users have on social commerce companies. This study provides effective improvement directions for social commerce companies by presenting current business problems and its solution plans. For this, This study selected Korea's representative social commerce business Ticket Monster, which is dominant in sales and staff size together with its excellent funding power through M&A by stock exchange with the US social commerce business Living Social with Amazon.com as a shareholder in August, 2011, as a target group of social commerce service provider. we have gathered questionnaires from both service providers and the users from October 22, 2012 until October 31, 2012 to conduct an empirical analysis. We surveyed 160 service providers of Ticket Monster We also surveyed 160 social commerce users who have experienced in using Ticket Monster service. Out of 320 surveys, 20 questionaries which were unfit or undependable were discarded. Consequently the remaining 300(service provider 150, user 150)were used for this empirical study. The statistics were analyzed using SPSS 12.0. Implications of the empirical analysis result of this study are as follows: First of all, There are order differences in the importance of social commerce CSF between two groups. While service providers regard Price Economic as the most important CSF influencing purchasing intention, the users regard 'Trust' as the most important CSF influencing purchasing intention. This means that the service providers have to utilize the unique strong point of social commerce which make the customers be trusted rathe than just focusing on selling product at a discounted price. It means that service Providers need to enhance effective communication skills by using SNS and play a vital role as a trusted adviser who provides curation services and explains the value of products through information filtering. Also, they need to pay attention to preventing consumer damages from deceptive and false advertising. service providers have to create the detailed reward system in case of a consumer damages caused by above problems. It can make strong ties with customers. Second, both service providers and users tend to consider that social commerce CSF influencing purchasing intention are Price Economic, Utility, Trust, and Word of Mouth Effect. Accordingly, it can be learned that users are expecting the benefit from the aspect of prices and economy when using social commerce, and service providers should be able to suggest the individualized discount benefit through diverse methods using social network service. Looking into it from the aspect of usefulness, service providers are required to get users to be cognizant of time-saving, efficiency, and convenience when they are using social commerce. Therefore, it is necessary to increase the usefulness of social commerce through the introduction of a new management strategy, such as intensification of search engine of the Website, facilitation in payment through shopping basket, and package distribution. Trust, as mentioned before, is the most important variable in consumers' mind, so it should definitely be managed for sustainable management. If the trust in social commerce should fall due to consumers' damage case due to false and puffery advertising forgeries, it could have a negative influence on the image of the social commerce industry in general. Instead of advertising with famous celebrities and using a bombastic amount of money on marketing expenses, the social commerce industry should be able to use the word of mouth effect between users by making use of the social network service, the major marketing method of initial social commerce. The word of mouth effect occurring from consumers' spontaneous self-marketer's duty performance can bring not only reduction effect in advertising cost to a service provider but it can also prepare the basis of discounted price suggestion to consumers; in this context, the word of mouth effect should be managed as the CSF of social commerce. Third, Trade safety was not derived as one of the CSF. Recently, with e-commerce like social commerce and Internet shopping increasing in a variety of methods, the importance of trade safety on the Internet also increases, but in this study result, trade safety wasn't evaluated as CSF of social commerce by both groups. This study judges that it's because both service provider groups and user group are perceiving that there is a reliable PG(Payment Gateway) which acts for e-payment of Internet transaction. Accordingly, it is understood that both two groups feel that social commerce can have a corporate identity by website and differentiation in products and services in sales, but don't feel a big difference by business in case of e-payment system. In other words, trade safety should be perceived as natural, basic universal service. Fourth, it's necessary that service providers should intensify the communication with users by making use of social network service which is the major marketing method of social commerce and should be able to use the word of mouth effect between users. The word of mouth effect occurring from consumers' spontaneous self- marketer's duty performance can bring not only reduction effect in advertising cost to a service provider but it can also prepare the basis of discounted price suggestion to consumers. in this context, it is judged that the word of mouth effect should be managed as CSF of social commerce. In this paper, the characteristics of social commerce are limited as five independent variables, however, if an additional study is proceeded with more various independent variables, more in-depth study results will be derived. In addition, this research targets social commerce service providers and the users, however, in the consideration of the fact that social commerce is a two-sided market, drawing CSF through an analysis of perception gap between social commerce service providers and its advertisement clients would be worth to be dealt with in a follow-up study.

Human Papillomavirus Genotypes among Females in Mexico: a Study from the Mexican Institute for Social Security

  • Salcedo, Mauricio;Pina-Sanchez, Patricia;Vallejo-Ruiz, Veronica;Monroy-Garcia, Alberto;Aguilar-Lemarroy, Adriana;Cortes-Gutierrez, Elva I.;Santos-Lopez, Gerardo;Montoya-Fuentes, Hector;Grijalva, Renan;Madrid-Marina, Vicente;Apresa-Garcia, Teresa;Hernandez, Dulce M.;Jave-Suarez, Luis F.;Romero, Pablo;Poot, Albros;Salgado, Eduardo;Ramos-Gonzalez, Patricia;Gonzalez-Hernandez, Rigoberto;Canton, Juan C.;Jimenez-Aranda, Lucio;Parra-Melquiadez, Miriam;Paniagua, Lucero;Mendoza, Monica;Arreola, Hugo;Villegas, Vanesa;Torres-Poveda, Kirvis;Bahena-Roman, Margarita;Gonzalez-Yebra, Beatriz;Taniguchi, Keiko;Rodea, Carlos;Mantilla-Morales, Alejandra;Mora-Garcia, Maria L.;Velazquez-Velazquez, Cindy K.;Cordova-Uscanga, Candelaria;Peralta, Raul;Lopez-Romero, Ricardo;Marrero, Daniel;Bandala, Cindy;Reyes-Leyva, Julio;Furuya, Maria E.;Almeida, Eduardo;Galvan, Maria E.;Grijalva, Israel
    • Asian Pacific Journal of Cancer Prevention
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    • v.15 no.23
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    • pp.10061-10066
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    • 2015
  • Background: The aetiological relationship between human papillomavirus (HPV) infection and cervical cancer (CC) is widely accepted. Our goal was to determine the prevalence of HPV types in Mexican women attending at the Mexican Institute for Social Security from different areas of Mexico. Materials and Methods: DNAs from 2,956 cervical samples were subjected to HPV genotyping: 1,020 samples with normal cytology, 931 with low-grade squamous intraepithelial lesions (LGSIL), 481 with high grade HGSIL and 524 CC. Results: Overall HPV prevalence was 67.1%. A total of 40 HPV types were found; HPV16 was detected in 39.4% of the HPV-positive samples followed by HPV18 at 7.5%, HPV31 at 7.1%, HPV59 at 4.9%, and HPV58 at 3.2%. HPV16 presented the highest prevalence both in women with altered or normal cytology and HPV 18 presented a minor prevalence as reported worldwide. The prevalence ratio (PR) was calculated for the HPV types. The analysis of PR showed that HPV16 presents the highest association with CC, HPV 31, -33, -45, -52 and -58 also demonstrating a high association. Conclusions: The most prevalent HPV types in cervical cancer samples were -16, -18, -31, but it is important to note that we obtained a minor prevalence of HPV18 as reported worldwide, and that HPV58 and -52 also were genotypes with an important prevalence in CC samples. Determination of HPV genotypes is very important in order to evaluate the impact of vaccine introduction and future cervical cancer prevention strategies.

The Effect of Brand Extension of Private Label on Consumer Attitude - a focus on the moderating effect of the perceived fit difference between parent brands and an extended brand - (PL의 브랜드확장이 소비자태도에 미치는 영향에 관한 연구 : 모브랜드 적합도 인식 차이의 조절효과를 중심으로)

  • Kim, Jong-Keun;Kim, Hyang-Mi;Lee, Jong-Ho
    • Journal of Distribution Research
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    • v.16 no.4
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    • pp.1-27
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    • 2011
  • Introduction: Sales of private labels(PU have been growing m recent years. Globally, PLs have already achieved 20% share, although between 25 and 50% share in most of the European markets(AC. Nielson, 2005). These products are aimed to have comparable quality and prices as national brand(NB) products and have been continuously eroding manufacturer's national brand market share. Stores have also started introducing premium PLs that are of higher-quality and more reasonably priced compared to NBs. Worldwide, many retailers already have a multiple-tier private label architecture. Consumers as a consequence are now able to have a more diverse brand choice in store than ever before. Since premium PLs are priced higher than regular PLs and even, in some cases, above NBs, stores can expect to generate higher profits. Brand extensions and private label have been extensively studied in the marketing field. However, less attention has been paid to the private label extension. Therefore, this research focuses on private label extension using the Multi-Attribute Attitude Model(Fishbein and Ajzen, 1975). Especially there are few studies that consider the hierarchical effect of the PL's two parent brands: store brand and the original PL. We assume that the attitude toward each of the two parent brands affects the attitude towards the extended PL. The influence from each parent brand toward extended PL will vary according to the perceived fit between each parent brand and the extended PL. This research focuses on how these two parent brands act as reference points to one another in the consumers' choice consideration. Specifically we seek to understand how store image and attitude towards original PL affect consumer perceptions of extended premium PL. How consumers perceive extended premium PLs could provide strategic suggestions for retailer managers with specific suggestions on whether it is more effective: to position extended premium PL similarly or dissimilarly to original PL especially on the quality dimension and congruency with store image. There is an extensive body of research on branding and brand extensions (e.g. Aaker and Keller, 1990) and more recently on PLs(e.g. Kumar and Steenkamp, 2007). However there are no studies to date that look at the upgrading and influence of original PLs and attitude towards store on the premium PL extension. This research wishes to make a contribution to this gap using the perceived fit difference between parent brands and extended premium PL as the context. In order to meet the above objectives, we investigate which factors heighten consumers' positive attitude toward premium PL extension. Research Model and Hypotheses: When considering the attitude towards the premium PL extension, we expect four factors to have an influence: attitude towards store; attitude towards original PL; perceived congruity between the store image and the premium PL; perceived similarity between the original PL and the premium PL. We expect that all these factors have an influence on consumer attitude towards premium PL extension. Figure 1 gives the research model and hypotheses. Method: Data were collected by an intercept survey conducted on consumers at discount stores. 403 survey responses were attained (total 59.8% female, across all age ranges). Respondents were asked to respond to a series of Questions measured on 7 point likert-type scales. The survey consisted of Questions that measured: the trust towards store and the original PL; the satisfaction towards store and the original PL; the attitudes towards store, the original PL, and the extended premium PL; the perceived similarity of the original PL and the extended premium PL; the perceived congruity between the store image and the extended premium PL. Product images with specific explanations of the features of premium PL, regular PL and NB we reused as the stimuli for the Question response. We developed scales to measure the research constructs. Cronbach's alphaw as measured each construct with the reliability for all constructs exceeding the .70 standard(Nunnally, 1978). Results: To test the hypotheses, path analysis was conducted using LISREL 8.30. The path analysis for verification of the model produced satisfactory results. The validity index shows acceptable results(${\chi}^2=427.00$(P=0.00), GFI= .90, AGFI= .87, NFI= .91, RMSEA= .062, RMR= .047). With the increasing retailer use of premium PLBs, the intention of this research was to examine how consumers use original PL and store image as reference points as to the attitude towards premium PL extension. Results(see table 1 & 2) show that the attitude of each parent brand (attitudes toward store and original pL) influences the attitude towards extended PL and their perceived fit moderates these influences. Attitude toward the extended PL was influenced by the relative level of perceived fit. Discussion of results and future direction: These results suggest that the future strategy for the PL extension needs to consider that positive parent brand attitude is more strongly associated with the attitude toward PL extensions. Specifically, to improve attitude towards PL extension, building and maintaining positive attitude towards original PL is necessary. Positioning premium PL congruently to store image is also important for positive attitude. In order to improve this research, the following alternatives should also be considered. To improve the research model's predictive power, more diverse products should be included in study. Other attributes of product should also be included such as design, brand name since we only considered trust and satisfaction as factors to build consumer attitudes.

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Comparison of Property Changes of Black Jujube and Zizyphus jujube Extracts during Lactic Acid Fermentation (흑대추와 일반 건조대추의 추출 및 유산발효과정 중 특성 변화)

  • Auh, Mi Sun;Kim, Yi Seul;Ahn, Seung Joon;Ahn, Jun Bae;Kim, Kwang Yup
    • Journal of the Korean Society of Food Science and Nutrition
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    • v.41 no.10
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    • pp.1346-1355
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    • 2012
  • This study was carried out to investigate the characteristics of black jujube and Zizyphus jujube extracts during lactic acid fermentation. Both extracts were fermented using Lactobacillus fermentum YL-3. As a result, viable cell number rapidly increased until 24 hours, after which it gradually decreased. Before lactic acid fermentation, the $IC_{50}$ of black jujube, which was 0.014 mg/mL, was lower than that of Zizyphus jujube. Further, black jujube showed stronger antioxidant activity (374.21 mg AA eq/g) than Zizyphus jujube. Contents of total polyphenolics in both extracts were 15.46 mg/g and 13.61 mg/g, respectively, whereas contents of total flavonoids were 374.21 ${\mu}g/g$ and 64.25 ${\mu}g/g$. After lactic acid fermentation, there was no significant increase in DPPH or ABTS free radical scavenging activity. Total polyphenolic content of Zizyphus jujube decreased to 12.39 mg/g upon fermentation, whereas flavonoid content significantly increased to 291.58 ${\mu}g/g$. Further, polyphenolic and flavonoid contents of black jujube increased from 15.46 mg/g to 17.46 mg/g and from 374.21 ${\mu}g/g$ to 1,135.29 ${\mu}g/g$, respectively. These results demonstrate that 9-Times Steamed and Dried increased functional components. Especially, lactic acid fermented black jujube showed remarkably high antioxidant activity. These results confirm the potential use of lactic acid fermented black jujube as a valuable resource for the development of functional foods.

The Etiologies and Initial Antimicrobial Therapy Outcomes in One Tertiary Hospital ICU-admitted Patient with Severe Community-acquired Pneumonia (국내 한 3차 병원 중환자실에 입원한 중증지역획득폐렴 환자의 원인 미생물과 경험적 항균제 치료 성적의 고찰)

  • Lee, Jae Seung;Chung, Joo Won;Koh, Yunsuck;Lim, Chae-Man;Jung, Young Joo;Oh, Youn Mok;Shim, Tae Sun;Lee, Sang Do;Kim, Woo Sung;Kim, Dong-Soon;Kim, Won Dong;Hong, Sang-Bum
    • Tuberculosis and Respiratory Diseases
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    • v.59 no.5
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    • pp.522-529
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    • 2005
  • Background : Several national societies have published guidelines for empirical antimicrobial therapy in patients with severe community-acquired pneumonia (SCAP). This study investigated the etiologies of SCAP in the Asan Medical Center and assessed the relationship between the initial empirical antimicrobial regimen and 30 day mortality rate. Method : retrospective analysis was performed on patients with SCAP admitted to the ICU between March 2002 and February 2004 in the Asan Medical Center. The basic demographic data, bacteriologic study results and initial antimicrobial regimen were examined for all patients. The clinical outcomes including the ICU length of stay, the ICU mortality rate, and 30 days mortality rates were assessed by the initial antimicrobial regimen. Results : One hundred sixteen consecutive patients were admitted to the ICU (mean age 66.5 years, 81.9 % male, 30 days mortality 28.4 %). The microbiologic diagnosis was established in 58 patients (50 %). The most common pathogens were S. pneumoniae (n=12), P. aeruginosae (n=9), K. pneumonia (n=9) and S. aureus (n=8). The initial empirical antimicrobial regimens were classified as: ${\beta}$-lactam plus macrolide; ${\beta}$-lactam plus fluoroquinolone; anti-Pseudomonal ${\beta}$-lactam plus fluoroquinolone; Aminoglycoside combination regimen; ${\beta}$-lactam plus clindamycin; and ${\beta}$-lactam alone. There were no statistical significant differences in the 30-day mortality rate according to the initial antimicrobial regimen (p = 0.682). Multivariate analysis revealed that acute renal failure, acute respiratory distress syndrome and K. pneumonae were independent risk factors related to the 30 day mortality rate. Conclusion : S. pneumoniae, P. aeruginosae, K. pneumonia and S. aureus were the most common causative pathogens in patients with SCAP and K. pneumoniae was an independent risk factor for 30 day mortality. The initial antimicrobial regimen was not associated with the 30-day mortality.

Effects of Thyroid Function on Lactation in Female Rats (흰쥐의 갑상선기능(甲狀腺機能)이 비유(泌乳)에 미치는 영향(影響))

  • Seo, Kil Woong;Kim, Duk Im
    • Korean Journal of Agricultural Science
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    • v.19 no.1
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    • pp.51-64
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    • 1992
  • This experiment was carried out to elucidate the effects of the thyroid function on lactation in female rats. One hundred and five female rats, whose body weight was approximately 250g with normal parturition, were divided into 3.5 THY, 35 PTU, and 35 CON. The $30{\mu}g$ L-thyroxine per rat was administered subcutaneously for the THY group with 3-days intervals arid 0.03% propylthiouracil solution was drunk for the PTU group. After the treatments body weight, thyroid weights and prolactin levels in serum, and histological changes in thyroid and mammary gland were investigated for 3 weeks with 3-days interval. The results obtained were as follows 1. The body weights of PTU group were lower than those of CON arid THY groups. The changes in body weights were significant between 3 and 6 days and between 15 and 18 days. 2. Differences in thyroid weight among the groups were significant after 9 days, The thyroid weights of PTU group were much higher than those of CON and THY group. 3. The follicular epithelia of PTU group after 6 days showed cuboidal phenomena which were accompanied by hypertrophy and hyperplasia, and this phenomena continued until post weaning period. Those of THY group after 9 days showed a squamous degeneration together with pyknosis. 4. The prolactin concentrations of THY group were higher than the other groups after 12 days. and those of CON group were higher than the others after 18 days. However, those of PTU group were lower all through the period. 5. The secretary epithelial cells of THY and CON groups became cuboidal after 12 days, but after 15 days the differentiation of mammary tissue was progressing in THY group faster than CON group. The degeneration of mammary tissue were observed in PTU group as time lapses, so after 15 days the exfoliation of secretory epithelium and atrophy of alveolus were recognized. 6. The body weights of offspring for all experimental groups were increasing as time lapses, but the values for PTU group were markedly lower than the others.

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Stock-Index Invest Model Using News Big Data Opinion Mining (뉴스와 주가 : 빅데이터 감성분석을 통한 지능형 투자의사결정모형)

  • Kim, Yoo-Sin;Kim, Nam-Gyu;Jeong, Seung-Ryul
    • Journal of Intelligence and Information Systems
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    • v.18 no.2
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    • pp.143-156
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    • 2012
  • People easily believe that news and stock index are closely related. They think that securing news before anyone else can help them forecast the stock prices and enjoy great profit, or perhaps capture the investment opportunity. However, it is no easy feat to determine to what extent the two are related, come up with the investment decision based on news, or find out such investment information is valid. If the significance of news and its impact on the stock market are analyzed, it will be possible to extract the information that can assist the investment decisions. The reality however is that the world is inundated with a massive wave of news in real time. And news is not patterned text. This study suggests the stock-index invest model based on "News Big Data" opinion mining that systematically collects, categorizes and analyzes the news and creates investment information. To verify the validity of the model, the relationship between the result of news opinion mining and stock-index was empirically analyzed by using statistics. Steps in the mining that converts news into information for investment decision making, are as follows. First, it is indexing information of news after getting a supply of news from news provider that collects news on real-time basis. Not only contents of news but also various information such as media, time, and news type and so on are collected and classified, and then are reworked as variable from which investment decision making can be inferred. Next step is to derive word that can judge polarity by separating text of news contents into morpheme, and to tag positive/negative polarity of each word by comparing this with sentimental dictionary. Third, positive/negative polarity of news is judged by using indexed classification information and scoring rule, and then final investment decision making information is derived according to daily scoring criteria. For this study, KOSPI index and its fluctuation range has been collected for 63 days that stock market was open during 3 months from July 2011 to September in Korea Exchange, and news data was collected by parsing 766 articles of economic news media M company on web page among article carried on stock information>news>main news of portal site Naver.com. In change of the price index of stocks during 3 months, it rose on 33 days and fell on 30 days, and news contents included 197 news articles before opening of stock market, 385 news articles during the session, 184 news articles after closing of market. Results of mining of collected news contents and of comparison with stock price showed that positive/negative opinion of news contents had significant relation with stock price, and change of the price index of stocks could be better explained in case of applying news opinion by deriving in positive/negative ratio instead of judging between simplified positive and negative opinion. And in order to check whether news had an effect on fluctuation of stock price, or at least went ahead of fluctuation of stock price, in the results that change of stock price was compared only with news happening before opening of stock market, it was verified to be statistically significant as well. In addition, because news contained various type and information such as social, economic, and overseas news, and corporate earnings, the present condition of type of industry, market outlook, the present condition of market and so on, it was expected that influence on stock market or significance of the relation would be different according to the type of news, and therefore each type of news was compared with fluctuation of stock price, and the results showed that market condition, outlook, and overseas news was the most useful to explain fluctuation of news. On the contrary, news about individual company was not statistically significant, but opinion mining value showed tendency opposite to stock price, and the reason can be thought to be the appearance of promotional and planned news for preventing stock price from falling. Finally, multiple regression analysis and logistic regression analysis was carried out in order to derive function of investment decision making on the basis of relation between positive/negative opinion of news and stock price, and the results showed that regression equation using variable of market conditions, outlook, and overseas news before opening of stock market was statistically significant, and classification accuracy of logistic regression accuracy results was shown to be 70.0% in rise of stock price, 78.8% in fall of stock price, and 74.6% on average. This study first analyzed relation between news and stock price through analyzing and quantifying sensitivity of atypical news contents by using opinion mining among big data analysis techniques, and furthermore, proposed and verified smart investment decision making model that could systematically carry out opinion mining and derive and support investment information. This shows that news can be used as variable to predict the price index of stocks for investment, and it is expected the model can be used as real investment support system if it is implemented as system and verified in the future.

A Study on the Usage of Miào(廟) and Gōng(宮) in Zhou Dynasty through the Mentions to Them in the Scripture Sentences of 『Chūn-qiū(春秋)』 - In the Process of Investigating the Existence of Zhou Dynasty's System to Regulate the Number of Zōng-miào(宗廟) 【1/2】 (『춘추』 경문에서의 묘(廟)·궁(宮) 언급을 통한 주대(周代)의 그 쓰임 사례 일고찰 - 주대의 묘수제(廟數制) 실재 여부에 대한 궁구 과정에서 【1/2】-)

  • Seo, Jeong-Hwa
    • The Journal of Korean Philosophical History
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    • no.57
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    • pp.57-90
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    • 2018
  • In this discussion, as a way to verify the existence of the system to regulate Zhou dynasty's $z{\bar{o}}ng-mi{\grave{a}}o$(宗廟) numbers, the discussion was focused on '$mi{\grave{a}}o$ (廟)' and '$g{\bar{o}}ng$(宮)' in the records of "$Ch{\bar{u}}n-qi{\bar{u}}$(春秋)". As for the parts where the contents of scripture sentences were not specific, the context of the case was investigated through the writings in "$Zu{\breve{o}}-zhu{\grave{a}}n$(左傳)" and other materials. In the cases of the usage of the letter, '$mi{\grave{a}}o$(廟 : a ruler's house, a nation's royal court)', in the scripture sentences in "$Ch{\bar{u}}n-qi{\bar{u}}$(春秋)", the followings need to be noticed. In $t{\grave{a}}i-mi{\grave{a}}o$(太廟) of State $L{\check{u}}$(魯), nationwide events and a ruler's political ancestral rite, $d{\grave{i}}$(?) ritual, were performed, and fancy tools for ancestral rites used in those rituals were equipped. As for the $z{\bar{o}}ng-mi{\grave{a}}o$(宗廟) of a ruler of those times, a ritual of royal court, $ch{\acute{a}}o$(朝) rite, was performed. The usage case of the letter, '$g{\bar{o}}ng$(宮 : house)', is as the following. In $g{\bar{o}}ng$(宮) where a ruler's personal family lived was a family ancestral rite for them carried out. The record about the ornate decorating for the $hu{\acute{a}}n-g{\bar{o}}ng$ house(桓宮), which can be said to have been the political base of $s{\bar{a}}n-hu{\acute{a}}n-sh{\grave{i}}$(三桓氏), three politically noble families of State $L{\check{u}}$(魯), is outstanding. The $x{\bar{i}}-g{\bar{o}}ng$ house(西宮) during $X{\bar{i}}-g{\bar{o}}ng$(魯 僖公)'s reign and a $x{\bar{i}}n-g{\bar{o}}ng$ house(新宮 : a newly built house) destroyed by fire at the third year of $Ch{\acute{e}}ng-g{\bar{o}}ng$(魯 成公), are assumed to have been a ruler's another house, such as the $ch{\check{u}}-g{\bar{o}}ng$ house(楚宮) in which $Xi{\bar{a}}ng-g{\bar{o}}ng$(魯 襄公) used to enjoy staying, which is different from the viewpoint that it might be a $m{\acute{i}}-g{\bar{o}}ng$ shrine(?宮 : a house constructed as a shrine for the deceased father or the deceased grand father) that had been formed since Han dynasty. It has been discussed that, regarding the records that the '$w{\check{u}}-g{\bar{o}}ng$ house(武宮) was built' and that the '$y{\acute{a}}ng-g{\bar{o}}ng$ house(煬宮) was built', certain buildings were established with the symbols of '$w{\check{u}}$(武 : martial arts and force of arms)' and '$y{\acute{a}}ng$(煬 : to burn and get rid of everything)', and the events that a lord stood as its lord continued. Therefore, its main goal was not the performance of a dutiful ancestral rite by a ruler of those times for deceased rulers, for instance, $W{\check{u}}-g{\bar{o}}ng$(魯 武公) or $Y{\acute{a}}ng-g{\bar{o}}ng$(魯 煬公), but display of certain political symbolism through the ritual. This symbolism is most obvious with the $hu{\acute{a}}n-g{\bar{o}}ng$ house(桓宮) and the $x{\bar{i}}-g{\bar{o}}ng$ house(僖宮). As a consequence, all $mi{\grave{a}}os$(廟) and $g{\bar{o}}ngs$(宮) in scripture sentences had the functions of a shrine in some part, but it has been verified that they were not the buildings set up as a shrine to follow '$z{\bar{o}}ng-mi{\grave{a}}o$(宗廟)'s number regulation system' of '$ti{\bar{a}}nz{\check{i}}-7-mi{\grave{a}}o$(天子七廟 : an emperor owns seven $mi{\grave{a}}os$(廟))' or '$zh{\bar{u}}h{\acute{o}}u-5-mi{\grave{a}}o$(諸侯五廟 : a lord owns five $mi{\grave{a}}os$(廟))'.

Dynamical Study on the Blasting with One-Free-Face to Utilize AN-FO Explosives (초유폭약류(硝油爆藥類)를 활용(活用)한 단일자유면발파(單一自由面發破)의 역학적(力學的) 연구(硏究))

  • Huh, Ginn
    • Economic and Environmental Geology
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    • v.5 no.4
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    • pp.187-209
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    • 1972
  • Drilling position is one of the most important factors affecting on the blasting effects. There has been many reports on several blasting factors of burn-cut by Messrs. Brown and Cook, but in this study the author tried to compare drilling positions of burn-cut to pyramid-cut, and also to correlate burn-cut effects of drilling patterns, not being dealt by Prof. Ito in his theory, which emphasized on dynamical stress analysis between explosion and free face. According to former theories, there break out additional tensile stress reflected at the free face supplemented to primary compressive stress on the blasting with one-free-face. But with these experimented new drilling patterns of burn-cut, more free faces and nearer distance of each drilling holes make blasting effects greater than any other methods. To promote the above explosive effect rationary, it has to be considered two important categories under-mentioned. First, unloaded hole in the key holes should be drilled in wider diameter possibly so that it breaks out greater stress relief. Second, key holes possibly should have closer distances each other to result clean blasting. These two important factors derived from experiments with, theories of that the larger the dia of the unloaded hole, it can be allowed wider secondary free faces and closes distances of each holes make more developed stress relief, between loaded and unloaded holes. It was suggested that most ideal distance between holes is about 4 clearance in U. S. A., but the author, according to the experiments, it results that the less distance allow, the more effective blasting with increased broken rock volume and longer drifted length can be accomplished. Developed large hole burn-cut method aimed to increase drifting length technically under the above considerations, and progressive success resulted to achieve maximum 7 blasting cycles per day with 3.1m drifting length per cycle. This achievement originated high-speed-drifting works, and it was also proven that application of Metallic AN-FO on large hole burn-cut method overcomes resistance of one-free-face. AN-FO which was favored with low price and safety handling is the mixture of the fertilizer or industrial Ammonium-Nitrate and fuel oil, and it is also experienced that it shows insensible property before the initiation, but once it is initiated by the booster, it has equal explosive power of Ammonium Nitrate Explosives (ANE). There was many reports about AN-FO. On AN-FO mixing ratio, according to these experiments, prowdered AN-FO, 93.5 : 6.5 and prilled AN-FO 94 : 6, are the best ratios. Detonation, shock, and friction sensities are all more insensitive than any other explosives. Residual gas is not toxic, too. On initation and propagation of the detonation test, prilled AN-FO is more effective than powered AN-FO. AN-FO has the best explosion power at 7 days elapsed after it has mixed. While AN-FO was used at open pit in past years prior to other conditions, the author developed new improved explosives, Metallic AN-FO and Underwater explosive, based on the experiments of these fundmental characteristics by study on its usage utilizing AN-FO. Metallic AN-FO is the mixture of AN-FO and Al, Fe-Si powder, and Underwater explosive is made from usual explosive and AN-FO. The explanations about them are described in the other paper. In this study, it is confirmed that the blasting effects of utilizing AN-FO explosives are very good.

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