• The Korean Journal of Financial Management
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• v.22 no.2
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• pp.213-226
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• 2005

Adverse selection is a heavily scrutinized subject within the financial intermediary industry. Consensus is reached regarding its effect on the loan interest rate. Despite the similar features of financial service offered by the credit card, we still have controversy regarding credit card interest rate on how is adverse selection incurred with the change of interest rate. Thus, this paper explores how does the adverse selection, if ever, take place and affect the credit card interest rate. Information asymmetry regarding the credit card users' type represented by the default probability is assumed. The users are assumed to be rational in that they want to minimize the per unit dollar expense associated with the commercial transaction and financing between the two typical payment methods, cash and credit card. Suppliers, i.e. credit card companies, would like to maximize their profit and would be better off with more pervasive use of credit cards over the cash. Then we could show that the increasing credit card interest rate is subject to the adverse selection, sharing the same tenet with that of the bank loan interest rate proposed by Stiglitz and Weiss. Hence the current theory predicts that credit card market also suffers from adverse selection with increasing interest rate.

• Proceedings of the Korea Society for Industrial Systems Conference
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• 2008.10b
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• pp.113-125
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• 2008

In developing information systems, omissions and redundancies of user requirements are too frequent to increase development cost as they need to be remedied at later stages. In order to cope with this problem, various tools describing business processes have been proposed in the past and yet fewer attempts have been made to systematically and categorically evaluate performance of individual tools describing business processes. In this paper, we offer a general framework for appraising competing tools for describing business processes, including ERD, DFD, and Use Case Diagram in terms of ease of use, completeness, chance of having omissions, and. Based on a exemplary business From the measures proposed in this paper for comparing descriptive tools, ERD turns out to stand out over other often-used methodologies. Despite its problem with poor readability, ERD proves to offer relatively higher expressive power and ease of use. Being supplemented by well-formed job descriptions, ERD would remain a better choice in developing business information systems.

• Economic Analysis
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• v.26 no.2
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• pp.72-113
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• 2020

This study investigates the relationship between mineral exports to China, North Korea's most important source of foreign currency acquisition, and its imports of various items from China from the first quarter of 1995 through to the third quarter of 2019. The results from a cointegration analysis suggest that there exists a long-run equilibrium relationship between mineral exports and imports of food, fuel, and some intermediate goods, such as industrial supplies, parts, and accessories. The results from a vector autoregression using first-differenced variables indicate that the short-run relationship between mineral exports and imports is different between the period before and after the third quarter of 2010. Prior to structural changes, i.e., before the third quarter of 2010, import shocks affected mineral exports. However, after the third quarter of 2010, an increase in mineral exports led to an increase in the import of vehicles, intermediate goods, and luxury goods. This paper shows both the possibilities and the limits that mineral exports can contribute to North Korea's economic growth. The results, which show that mineral exports have a long-run relationship with intermediate goods, such as industrial supplies, parts and accessories, imply that mineral exports to China could have a positive effect on the North Korean economy. However, the fact that mineral exports do not have any significant effect on the import of machinery and equipment, which helps the accumulation of capital formation, shows that mineral exports have a limited effect on inducing long-term growth in the North Korean economy.

• Proceedings of the Korean Society for Cognitive Science Conference
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• 2002.05a
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• pp.9-14
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• 2002

인터넷에 기반한 학습 콘텐츠가 보편화됨에 따라 이에 대한 사용자들의 요구도 다양화되고 있다. 이중 컴퓨터에 기반한 평가(CBT: Computer Based Test) 시스템은 학술적으로나 경제적으로 최근 그 방법론이 평가 및 개발 분야에 있어 다양하게 진행되고 있다. 그러나 현재 개발된 대부분의 CBT 시스템 환경은 관계형 데이터베이스에 기반하여 개발되었기 때문에 다양한 형태의 문제를 구현하기 어려울 뿐만 아니라, 관리 측면에서도 높은 비용을 요구한다. 본 연구는 이러한 문제점이 문항 정보는 동적인데 비해, 기존 전산 정보 환경은 정적인 것에서 비롯되었다 보고, 이에 대한 구조적 해결책을 제시하기 위해 최근 그 사용이 급증하고 있는 XML(eXtensible Markup Language)을 이용하였다. 컴퓨터 환경 관점과 문항 저작 관점 모두를 충족시키기 위해 XML의 요소(element) 정의는 컴퓨터 친화적(computer friendly) 요소와 콘텐츠 친화적(computer friendly) 요소로 분류하고, 각 요소별로 중복되지 않는 정보 유형을 추출하였다. 본 연구결과를 활용할 경우 기존 관계형 데이터베이스에 비해 동적인 정보를 손쉽게 구현할 수 있을 뿐만 아니라, 다른 XML 문서와 동기화 작업을 거칠 경우 문항 세트를 손쉽게 확장할 수 있어 경제적이고 관리가 용이하여 관련 분야 연구를 촉진할 것이다.

• Korea journal of population studies
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• v.27 no.2
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• pp.257-289
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• 2004

이 연구의 목적은 중국의 도시화율을 재구성하고 그것을 바탕으로 과잉/과소 도시화 논쟁을 재점검하는 것이다. 연구는 과거에 발표된 도시화율에 비하여 2000년 센서스 보고서에 발표된 36.01%의 도시화율이 신뢰할만한 수치인가하는 질문에서 출발한다. 여기에 대한 답은 부정적이다. 따라서 이 연구는 유엔의 도시/농촌 인구성장 예측기법을 사용하여, 도시화율에 관한 두 세트의 시계열 자료를 재구성한다, 이 연구는 그 중 하나인 1982~2000년 자료를 바탕으로 과잉/과소 도시화 문제의 성격을 해명한다. 이 연구는 1인당 국민소득과 도시화의 관계를 해명하기 위한 두 종류의 회귀모형을 개발한다. 세계은행의 자료를 바탕으로 전세계의 경제발전과 도시화 수준에 관계에 관한 회귀방정식을 추정하고, 선형방정식보다 로그방정식이 예측력이 높음을 확인한다. 로그방정식의 추정결과에 따르면, 중국은 1978년 개혁${\cdot}$개방정책 이전에는 과잉 도시화되었고, 최근에 들어 오히려 도시화의 지체로 인한 과소 도시화의 문제가 통계적으로 유의미한 현상이 되고 있다. 분석의 결과는 중국이 1978년 시장경제를 도입한지 15년이 지난 이후에야 도시화 지체현상이 나타나고 있음에 주목하면서, 중국의 각종 도시정책이 도시발전에 강력한 장애물로 규제력을 행사하였음을 강조한다.

• Journal of Families and Better Life
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• v.13 no.1
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• pp.207-219
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• 1995

본 연구는 우리나라 도시가계의 부채보유여부 및 부채부담의 관련요인을 규명하고자 하였다. 분석을 위하여 국민은행이 실시한 1990년도 가계금융이용실태조사 자료를 이용하였다. 부채보유여부의 관련요인분석을 위하여 로짓분석을 사용하였으며, 월평균가계소득에 대한 월평균부채상환액의 비율로 측정된 부채부담에 대한 관련요인의 분석을 위하여는 회귀분석을 사용하였다. 주요 연구결과는 다음과 같다. (1) 도시가계의 부채보유비율은 38.2%였고, 부채를 보유할 확률은 가계속득, 금융자산, 주택소유여부, 가구주 연령과 유의한 상관관계가 있었다. (2) 부채보유가구의 평균부채부담율은 33.99%였고, 부채부담은 가계소득, 금융자산, 부채원 수, 가구주 직업 및 거주지역과 유의한 상관관계가 있는 것으로 나타났다.

• Korean Journal of Environmental Agriculture
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• v.18 no.2
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• pp.179-184
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• 1999

To examine the relationship between air pollution and occurrence of disease in plants, we investigated the alteration of physiology and biochemistry of Ginkgo biloba by inoculating with Coniothyrium sp. and fumigating with 0.1 ${\mu}l/l\;SO_{2-}$ Visual damage did not appear but photosynthesis, $CO_2$ use efficiency(CUE) and water use efficiency(WUE) were reduced when G. biloba was exposed to $SO_{2-}$for 7days (8 hours a day). When inoculated with Coniothyrium sp., the seventies of damage in G. biloba showed a threefold difference between $SO_{2-}$ treatment (SI) and $SO_{2-}$ free treatment (SFI) at day 42 from initial inoculation. Little difference was observed in sugar contents that may be used pathogens feed, among control, SFI and SI. In spite of the reduction in photosynthetic rate, sugar contents and CUE were maintained. WUE was enhanced 13% more at SI than SFI. The $CO_2$fixation boosted because of enhanced WUE, and thus sugar synthesis was not affected. In addition, sugar transport seems to be retarded for some internal alteration. Consequently, the severity of SI was more serious than that of SFI because Coniothyrium sp. easily invades into the physical texture of G. biloba weakened by $SO_2$ fumigation and because sugar was accumulated in leaves of G. biloba.

• Journal of Service Research and Studies
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• v.6 no.4
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• pp.59-74
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• 2016

The purpose of this paper is to see what the problem is and what the direction of the Investment of ELB is after this study has analyzed an achievable possibility for a suggested yield of ELB. It analyzes estimated yields from January in 2010 to June in 2016 for ELB Structures issued during 2015~2016. It carries correlation analysis and regression analysis between ELB yield and minimum guarantee yield, maximum stock price growth limit, participation rate. As the study result, a probability of achievement over 2% yield was below 20% as stock price growth had been inside maximum limit. An estimated average yield of ELB was 1.49% and it was lowed than 1.72% of Bank Deposit in 2015. So a realized yield was not satisfied the expected yield. As the correlation coefficient between ELB yield and minimum guarantee yield was 0.843, the correlation coefficient between ELB yield and maximum limit yield was 0.279, the correlation of minimum guarantee yield was high. The suggestion is that the a realized yield of ELB is lower than Bank Deposit interest and that the probability of stock growth inside maximum limit is low.

• The Korean Journal of Financial Management
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• v.22 no.1
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• pp.1-36
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• 2005

In this study, we analyzed determinant factors of leverage ratio and debt maturity for Korean firms in the simultaneous equation system using 2SLS (two stage least square) method under assumption that two variables are jointly determined in the capital structure decision. As a result of the analysis, we found that leverage ratio and debt maturity are positively related. Also, as for determinant factors of debt maturity, agency cost hypothesis, asset maturity matching hypothesis, signalling and liquidity risk hypothesis are all generally supported, and further leverage ratio are significantly positively related with firm size, but negatively related with default risk. However, when we divided samples into groups according to bank debt level and Chaebul affiliation, with contrast to existing study which worked on similar issues with OLS, we found no evidence supporting the argument that the information asymmetry problem is less severe in firms with more bank debt, whereas information asymmetry and financial constraint problems are more severe in non-Chaebul affiliated firms.

• Applied Chemistry for Engineering
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• v.33 no.6
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• pp.636-645
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• 2022

In this study, we investigated the adsorption characteristics of methyl orange (MO), an anionic dye, on ginkgo shell-based activated carbon (AC). For this purpose, ACs (GS-1, GS-2, and GS-4) with different textural properties were prepared using ginkgo shells and potassium hydroxide (KOH), a representative chemical activating agent. The correlation between the textural characteristics of AC prepared and the mixing ratio of KOH was investigated using nitrogen adsorption/desorption isotherms. The MO adsorption equilibrium experiment on the prepared ACs was conducted under different pH (pH 3~11) and temperature (298~318 K) conditions, and the results were investigated by Langmuir, Freundlich, Sips and temperature-dependent Sips equations. The feasibility of the MO adsorption treatment process of the prepared AC was also investigated using the dimensionless Langmuir separation factor. The heterogeneous adsorption properties of MO for the prepared AC examined using the adsorption energy distribution function (AED) were closely related to the system temperature and textural characteristics of AC. The kinetic results of the batch adsorption performed at different temperatures can be satisfactorily explained by the homogeneous surface diffusion model (HSDM), which takes into account the external mass transfer, intraparticle diffusion, and active site adsorption. The relationship between the activation energy value obtained by the Arrhenius plot and the adsorption energy distribution function value was also investigated. In addition, the adsorption process mechanism of MO on the prepared AC was evaluated using Biot number.