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The Price-discovery of Korean Bond Markets by US Treasury Bond Markets by US Treasury Bond Markets - The Start-up of Korean Bond Valuation System - (한국 채권현물시장에 대한 미국 채권현물시장의 가격발견기능 연구 - 채권시가평가제도 도입 전후를 중심으로 -)

  • Hong, Chung-Hyo;Moon, Gyu-Hyun
    • The Korean Journal of Financial Management
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    • v.21 no.2
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    • pp.125-151
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    • 2004
  • This study tests the price discovery from US Treasury bond markets to Korean bond markets using the daily returns of Korean bond data (CD, 3-year T-note, 5-year T-note, 5-year corporate note) and US treasury bond markets (3-month T-bill, 5-year T-note 10-year T-bond) from July 1, 1998 to December 31, 2003. For further research, we divide full data into two sub-samples on the basis of the start-up of bond valuation system in Korean bond market July 1, 2000, employing uni-variate AR(1)-GARCH(1,1)-M model. The main results are as follows. First the volatility spillover effects from US Treasury bond markets (3-month T-bill, 5-year T-note, 10-year T-bond) to Korean Treasury and Corporate bond markets (CD, 3-year T-note, 5-year T-note, 5-year corporate note) are significantly found at 1% confidence level. Second, the price discovery function from US bond markets to Korean bond markets in the sub-data of the pre-bond valuation system exists much stronger and more persistent than those of the post-bond valuation system. In particular, the role of 10-year T-bond compared with 3-month T-bill and 5-year T-note is outstanding. We imply these findings result from the international capital market integration which is accelerated by the broad opening of Korean capital market after 1997 Korean currency crisis and the development of telecommunication skill. In addition, these results are meaningful for bond investors who are in charge of capital asset pricing valuation, risk management, and international portfolio management.

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A Semantic Study on the Soundscape of the Historic Downtown of Daejeon - Focusing on the Bells of Daeheung-dong Cathedral and Enhang-dong Sungsimdang - (대전 원도심 소리풍경에 관한 의미론적 연구 - 대흥동 성당과 은행동 성심당 종소리를 중심으로 -)

  • Kim, Myeong-Shin
    • Journal of the Korean Institute of Landscape Architecture
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    • v.50 no.2
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    • pp.64-75
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    • 2022
  • The purpose of this study is to illuminate the meaning of the soundscapes of two bells, Daeheung-dong Cathedral and Sungsimdang in Eunghang-dong, which are landmarks and attractions in the historic downtown of Daejeon. The study was conducted through field research and recordings, as well as literature studies of related documents and soundscape theory. Daejeon city was developed along with Daejeon Railway Station during the Japanese colonial period in the early 20th century. As the Chungnam Provincial Office moved to Daejeon, Daeheung-dong and Eunhang-dong in Jung-gu, located near Daejeon Station, developed significantly and formed the city centre. As major administrative agencies moved to Seo-gu in the 1990s, the downtown area of Daejeon was on a path of decline, and the decline accelerated with the development of Sejong city. Meanwhile, Daeheung-dong Cathedral and Sungsimdang, founded by refugees during the Korean War, firmly protected the historic downtown area of Daejeon, where the natives left. Daeheung-dong Cathedral, established during the Japanese colonial period, is a local landmark with a history of 100 years in 2019. Sungsimdang, which was created with the backdrop of the Korean War, is also a historical and cultural asset with a history of 60 years and a local landmark selected as the No. 1 tourist attraction in Daejeon. This research, which started from the sound of the bells of Daeheung-dong Cathedral, heard even in the neighboring residential areas, led to the discovery of the bells of Sungsimdang in Eunhang-dong, located across the street. In this paper, the bells of Daeheung-dong Cathedral and Eunhang-dong Sungsimdang have characteristics of soundmarks according to R. Murray Schafer's soundscape sound category. Furthermore, this paper attempted to analyze the meaning of the two bells according to the relatively recent EU soundscape definition. These two bells are signal sounds at the surface level, but are the sound marks of the historic downtown area of Daejeon at the deep level. Although there are outward differences in size, scale, frequency, and famousness, these two bells share a meaning in terms of locality and good influence with the historicity and spatiality of a special relationship. The implication of this study is that the two places should be preserved as local historical and cultural assets not only as visual landmarks but also as sound marks in the urban regeneration or urban development of Jung-gu, Daejeon.

A Study on development of Innovational Cluster for Knowledge Management in Busan (부산지역 지식경영을 위한 혁신클러스터 모델 구축에 관한 연구)

  • Jeong, Hyung-Il;Bang, Kwuen-Soo;Kim, Jong-Duk
    • Management & Information Systems Review
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    • v.29 no.4
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    • pp.169-186
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    • 2010
  • This study aims to reveal the ways to sharpen the edges of Korean companies through the relativity analysis between knowledge management and innovational cluster in environmental changes in resent Busan. That is, according to the knowledge management approach, the methods and directions of strengthening industrial competition were established, while the strategy of innovational clusters was suggested as a way of expanding and encouraging knowledge management. The key words of innovational cluster are in this research are the framework of Cluster theory, the importance of innovational cluster, and the change of managerial strategy paradigm. This study provide the several implication for the practice of knowledge management and the researchers. Based on these theories of knowledge management and industrial clusters, their close relationships were analyzed. As a result, industrial clusters were found to be effectively utilized to enlarge and deepen knowledge management. In addition, this suggests the efficient operation guideline of knowledge management. this study indicates both knowledge and innovational cluster should be operated and handled together in the managerial strategy. but this research has limitations in generaling the study result because it collects data from local firms only in Busan.

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Developing Self-awareness Through Cyber Study and Cyber Reading Activities: A Case Study with the Electronic Library 'Booktoby' (사이버 학습을 활용한 학생의 자아정체성 확인에 관한 연구: 북토비 사례를 중심으로)

  • Kang, Hyon-Sook
    • Journal of Information Technology and Architecture
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    • v.11 no.4
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    • pp.485-494
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    • 2014
  • This study has been conducted with $1^{st}$ grade elementary students where the purpose was to develop students' interest in themselves and to cultivate their self-awareness as the first step toward establishing a suitable course and career for their start-up features. Students have conducted the cyber study through "Incheon e-School" and cyber reading "Booktoby" and recorded three types of outcomes - affective self-awareness, social self-awareness and intelligence self-awareness - on each side of the Pyramid, thus constructing their own self-awareness pyramids of the system. According to the results, after such activities were undertaken during the $1^{st}$ semester, their opinion toward their self-control and study ability has improved as much as about 67% compared to that of the beginning of the last semester. Regarding the effects of cyber reading, their interest, spontaneity and understanding toward reading books have also improved as much as 54% and 50%, 33% respectively along with positive answers of as much as 75% with regard to self-awareness. When it comes to the results of the SCI-II test (used to evaluate self-awareness), the total average has improved by as much as 3 points and the three components of self-awareness - affective, social, and intelligence - have improved by as much as 4points, 1point, and 5points, respectively.

A Study on Brand Identity Revitalization for Aging Brand (노후화된 브랜드의 브랜드 아이덴티티 재활성화(Revitalization)를 위한 연구)

  • Koo, Yoo-Ri
    • Archives of design research
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    • v.19 no.5 s.67
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    • pp.335-350
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    • 2006
  • Due to the development in industrial technology, changes in consumer behavior and aggravating competition within the industry, it is growing only harder every day to build up a strong brand power. Besides, a brand is supposed to age as time goes by, following a brand life cycle, as it is not a solid, immutable asset but something of a living creature. Therefore, self-renovation and revitalization efforts are needed, in order to incessantly confirm the self existence through the relationship with the consumer. In sum, revitalization operation is needed to renew a brand that has grown trite in the passage of time or due to the change in market condition, so as to bring it back anew to the consumers. This study did not stop at measuring the effect of a design renewal as a short-term assignment, but focused on the long-term brand management following the brand life cycle and aimed to define the effective timing and method of revitalization by comprehending the analysis results of consumer consciousness by analyzing the successful cases of brand revitalization and selecting the research analysis targets. As a result, this study proved that a properly-timed brand revitalization efforts in order to cope in advance with predictable changes in environment, can significantly prevent any drop of brand equity from occurring and then extend the brand life cycle. Also, this study could find that a brand revitalization is not a mere concept of a strategy for a short-term sales increase, but should be a long-term strategy to manage a brand, which must be practiced continuously in the time when the brand life cycle curve starts to fall. This research could also confirm that a superficial design renewal, which changes only the packaging of a brand, peformed in short-term haste, is not of help at all.

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A study on decision number of maintenance equipment with calibration for weapon system with Queueing Theory (검교정이 필요한 무기체계 정비장비의 구매 대수 결정을 위한 대기행렬이론 연구)

  • PARK, JUNGHO;LEE, IKDO;PARK, YEONKYOUNG;Kim, Du-Jeong
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.18 no.10
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    • pp.153-162
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    • 2017
  • Weapon systems have been developed with high technology electronic equipment due to technology growth. In addition, the capital, operational and maintenance costs of weapon systems have all increased. However, cost of operation and maintenance for weapon systems has been decreased relatively compared to the increased capital cost of weapon systems. Therefore, the defense industry needs to research the life cycle cost of weapon systems that have high operational and maintenance costs. This paper focuses on maintenance equipment for the operation and maintenance of weapon systems. Recently, it seems that the weapon systems that have periodic calibration with maintenance equipment are valid. The equipment requires periodic calibration by the manufacturer to check its own validation. Basically, customers demand high reliability devices from foreign companies that have qualified in the global market. Therefore, the tools need to be calibrated overseas. In other words, weapon systems are not available when the equipment has to be calibrated overseas because the systems require validation with valid maintenance equipment. A purpose of this paper is to compare the loss costs that arise from the calibration of the equipment overseas and the purchasing cost of the tools. Finally, the research shows the number of equipment that customers need to minimize the cost. This research will help to improve the efficiency of operation of weapon systems and solve the problems associated with the need for maintenance overseas.

Dynamic Evaluation Methods for SMS Phishing Blocking App Based on Detection Setup Function (감지설정기능을 적용한 스미싱 차단앱의 동적 평가방법에 관한 연구)

  • Kim, Jang Il;Kim, Myung Gwan;Kwon, Young Man;Jung, Yong Gyu
    • Journal of Service Research and Studies
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    • v.5 no.2
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    • pp.111-118
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    • 2015
  • Although the development of mobile devices are made us a free life, they were displayed the subject of this financial crime and attacking forces in the other side. Among finance-related crime is become a serious crime that are targeting smartphones by SMS phishing, phishing, pharming, voice phishing etc. In particular, SMS phishing is increased according to phenomenon using the nature of a text message in the mobile. SMS phishing is become new crime due to the burden to the smartphone user. Their crime is also the advanced way from the existing fraud, such as making the malicious apps. Especially it generates loopholes in the law by a method such as using a foreign server. For safe from SMS phishing attacks, proactive pre-diagnosis is even more important rather than post responses. It is necessary to deploy blocking programs for detecting SMS phishing attacks in advance to do this. In this paper we are investigating the process of block types and block apps that are currently deployed and presenting the evaluation of the application of the detection block setting app.

Data Conversion Automation Tool based on Repository and Processes (레파지토리 및 프로세스 기반의 데이터 전환 자동화 도구)

  • Heo, Min Seok;Kim, Dong Soo;Kim, Hee Wan
    • Journal of Service Research and Studies
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    • v.10 no.2
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    • pp.17-29
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    • 2020
  • This study was performed to derive a modern service management model reflecting the philosophy of the new business administration. Service management as the modern business administration should be faithful to the spirit of modernity. In addition, service management must be faithful to the essence of service in service economy era. And since modern management is to manage organizations those are the central organizations of human society, it must be managed according to the common principles of the world. Management that satisfies these three management philosophy conditions is defined as modern service management. In this study, we analyzed that the existing service management framework does not meet these standards of modern management and derived an improved modern service management model. The modern service management model must be a management model that reflects the essence of intangible goods called service, it must be a management framework that reflects the modern spirit, and it must be a management model that reflects the common principles of the world required by the central organization of the modern economic society. Therefore, this study analyzed the modern spirit in addition to the service essence and the common principle of the world analyzed in the previous study, and presented a modern service management model with these three requirements. Also, examples of modern service management were presented. This study is a conceptual model, and analytical research is needed to demonstrate that this management model can consistently produce excellent management performance by strengthening empirical studies in the future.

A study on reliability analysis model of the repair and replacement cycle of a building which utilizes Monte Carlo Simulation (몬테카를로 시뮬레이션을 활용한 건축물 수선교체주기 신뢰성 분석 모델에 관한 연구)

  • Kim, Jong-Rok;Jung, Young-Han;Son, Jae-Ho
    • Journal of the Korea Institute of Building Construction
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    • v.10 no.2
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    • pp.41-50
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    • 2010
  • This study presented a model that can enable a reliability analysis for the repair and replacement cycle of a building by using background repair and replacement data and expert opinion as foundation data and applying Monte Carlo Simulation. The presented model offers the time of the repair and replacement of building elements for the period of a year, and supports the prediction of repair and replacement and expenses demand in advance while planning the maintenance of a building. In addition, the model will significantly reduce the risks to the building owner with regard to maintenance decisions. In addition, when a person in charge of the maintenance of large-scale building assets is having difficulties making decisions regarding the repair and replacement of existing building elements due to a lack of background data to support a long-term policy on the repair and replacement requirements, an engineering solution that can ensure the adequacy of this is provided. In summary, it can be largely divided into three study results. First, a method of estimating the repair and replacement cycle that can deal with the development of a construction system was developed. Second, a probabilistic methodology that can quantify the risk of the repair and replacement cycle was proposed. Third, the proposed model can be used as a means of supporting designer and constructor in making decisions for the life cycle plan of a building during a construction project.

A Study on Satisfaction on Use of VR Tourism Program (VR관광콘텐츠의 이용만족에 대한 연구)

  • Yang, Sung-Soo
    • The Journal of the Korea Contents Association
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    • v.19 no.8
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    • pp.184-193
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    • 2019
  • With the development of the information and communication technology, tourism items or products based on new technology is created or developed for tourists. This study examines tourist's satisfaction about VR program, "Secret Wind Forest", which is the story of Gotjawal, one of famous Jeju eco-tourism attraction. In order to achieve the study goal, it identified a study model from the previous studies. It collected data using survey from visitors who used VR program. The total of 227 questionnaires was utilized for data analysis. Based on the study model, it accepted five hypotheses (H1~H5), which are as follows. Firstly, individual innovativeness has a significant effect on perceived usefulness. Secondly, individual innovativeness influenced perceived usefulness, and perceived usefulness and ease influenced usage satisfaction. These results have both theoretical and practical contribution in terms of the development to tourist products using VR program. Academics can provide basic theories such as tourism activities, behaviors, and attitudes to tourism consumer-related studies on VR tourism program in terms of content application. Practically, it can help tourist marketers who want to use VR tourism program and content developers who use VR devices to construct VR program stories using tourism resources and to plan and execute contents considering the target market.