• Title/Summary/Keyword: 변동성 구조

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Impact of the Local Surface Characteristics and the Distance from the Center of Heat Island to Suburban Areas on the Night Temperature Distribution over the Seoul Metropolitan Area (수도권 열섬 중심으로부터 교외까지의 거리 및 국지적 지표특성이 야간 기온분포에 미치는 영향)

  • Yi, Chae-Yeon;Kim, Kyu-Rang;An, Seung-Man;Choi, Young-Jean
    • Journal of the Korean Association of Geographic Information Studies
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    • v.17 no.1
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    • pp.35-49
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    • 2014
  • In order to understand the impacts of surface characteristics and the distance from the urban heat island center to suburban areas on the mean night time air temperature, we analyzed GIS and AWS observational data. Spatial distributions of mean night time air temperature during the summer and winter periods of 2004-2011(six years) were utilized. Results show that the temperature gradients were different by distance and direction. We found high correlation between mean night-time air temperature and artificial land cover area within 1km and 200m radii during both summer(R=0.84) and winter(R=0.78) seasons. Regression models either from 1km and 200m land surface data explained the distribution of night-time temperature equally well if the input data had sufficient resolution with detailed attribute including building area and height.

한국주식수익률의 시계열상관에 대한 원인분석

  • Kim, Dong-Hoe;Gwak, Cheol-Hyo;Jeong, Jeong-Hyeon
    • The Korean Journal of Financial Management
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    • v.14 no.3
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    • pp.23-56
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    • 1997
  • 본 연구는 주식의 시장가치와 거래빈도, 기관지분비율, 거래량 등에 따라 주식수익률의 시계열상관이 일정한 패턴을 갖는 것으로 나타나고 있다는 사실을 실증적으로 확인하고, 주식수익률의 시계열상관에 주된 영향을 미치는 요인을 횡단면 분석방법을 이용하여 살펴보고 있다. 1985년부터 1995년까지의 기간에 걸친 일별수익률자료를 이용하여 분석한 결과를 요약하면, 1) 규모, 거래빈도, 기관지분비율, 거래량 등이 작은 주식들로 구성된 포트폴리오일수록 수익률이 강한 양의 자기상관을 갖게 되며, 또한 그러한 변수들의 크기가 큰 주식들로 구성된 포트폴리오의 수익률에 대하여 후행하는 관계에 있다는 보여주고 있다. 2) Lo and MacKinlay(1990a)의 비거래모형을 이용한 분석결과에서는 한국주식수익률의 시계 및 상관이 전적으로 비거래로 인하여 나타나는 현상이 아니라는 것을 보여주고 있다. 3) 시계열상관의 정도를 나타내는 후행척도를 상기한 변수들에 대하여 회귀분석한 결과는 모든 변수들이 주식수익률의 시계열상관에 동시적으로 영향을 주고 있다는 것을 보여준다. 특히 시계열상관을 야기하는 요인들 중에서 거래빈도는 분석기간에 관계없이 항상 시계열상관에 음의 영향을 미치는 것으로 나타나고 있다. 기관지분비율과 거래량은 분명히 시계열상관에 음의 영향을 미치지만, 분석기간에 따라 유의성에 다소 차이를 보여주고 있다. 수익률의 변동성은 전반기의 경우에 시계열상관과 음의 관계를, 후반기의 경우에는 양의 관계를 갖는 것으로 나타나고 있다. 이러한 검증결과들로 미루어, 한국주식수익률의 시계열상관은 주가의 반응에 영향을 주게되는 시장구조나 투자패턴 등이 전 후반기에 있어서 서로 다르기 때문에 나타나는 현상으로 보인다.력(事前賣却努力)이 협의발행하에서 더 높았으나 발행일 직후의 주가회복은 보이지 않아 인수방식에 따른 가격안정화(價格安定化) 노력의 차이는 없었다. 발행기업들간의 주가차별화의 정도를 분석한 결과 협의발행에서 인회활동(認淮活動) (certification effects)을 더 잘 할 수 있다는 사실을 지지하지 못했다.범위(範圍)에 벗어나 한국주식시장(韓國株式市場)에서 주식시장(株式市場)의 비효율성(非效率性)을 배제할 수 없는 것으로 나타났다. 뿐만 아니라 차기에도 이어지고 화폐량과 소득이 주가의 결정에 영향을 미치고 있으며 다른 금융변수(金融變數)들은 영향을 미치지 않고 있다. 그러나 실질화폐잔고와 실질주가 장단기수익비율 화폐차등수익률과 소득변화률과는 장기적(長期的) 정상적(定常的) 균형관계(均衡關係)를 형성하고 있다. 따라서 장기적 관점에서 증권시장은 경제성장을 위한 통화정책과 각 분야의 균형적 성장을 유발할 수 있는 재정정책(財政政策)이 요청되고 있다. 위의 논의에서 유추할 수 있는 것은 화폐의 영향을 완화시키기 위하여 option시장의 개발과 농산물, 광물, 기타 실물 및 금융에 대한 선물시장의 개설이 요청된다. 이와 같은 시장을 통하여 통화 정책이 증권시장에 미치는 과도한 효과를 축소시켜 합리적이고 건전한 증권시장(證券市場)의 발전(發展)과 금융시장(金融市場)의 원활한 발전이 이룩될 수 있을 것이다. 자본시장이론(資本市場理論)에서는 화폐는 무시하고 실물적인 관점에서 증권가격의 결정을 연구하거나 위험분석에 주안점이 주어져 왔었다. 본 연구를 통하여 통화정책의 결과가 자본시장에 직접적으로 영향을 미치고 있음을 확인하였다. 통화금융정책과 주가의 유기적 관계를 확인한 본 논문의 결과를 정책당국이 참고하여

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The Study on Application of Regional Frequency Analysis using Kernel Density Function (핵밀도 함수를 이용한 지역빈도해석의 적용에 관한 연구)

  • Oh, Tae-Suk;Kim, Jong-Suk;Moon, Young-Il;Yoo, Seung-Yeon
    • Journal of Korea Water Resources Association
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    • v.39 no.10 s.171
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    • pp.891-904
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    • 2006
  • The estimation of the probability precipitation is essential for the design of hydrologic projects. The techniques to calculate the probability precipitation can be determined by the point frequency analysis and the regional frequency analysis. The regional frequency analysis includes index-flood technique and L-moment technique. In the regional frequency analysis, even if the rainfall data passed homogeneity, suitable distributions can be different at each point. However, the regional frequency analysis can supplement the lacking precipitation data. Therefore, the regional frequency analysis has weaknesses compared to parametric point frequency analysis because of suppositions about probability distributions. Therefore, this paper applies kernel density function to precipitation data so that homogeneity is defined. In this paper, The data from 16 rainfall observatories were collected and managed by the Korea Meteorological Administration to achieve the point frequency analysis and the regional frequency analysis. The point frequency analysis applies parametric technique and nonparametric technique, and the regional frequency analysis applies index-flood techniques and L-moment techniques. Also, the probability precipitation was calculated by the regional frequency analysis using variable kernel density function.

Preliminary Study on Developing Protocol for Music Therapy Assessment for Cognitive and Emotional-Behavioral Domain using Rhythm (MACED-Rhythm) (인지 및 정서행동 영역에서의 음악치료 사정을 위한 리듬 프로토콜(MACED-Rhythm) 개발 예비 연구)

  • Duerksen, George;Chong, Hyun Ju
    • Journal of Music and Human Behavior
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    • v.10 no.1
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    • pp.67-83
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    • 2013
  • Assessment in music therapy is a vital part for both the therapist and client in the process of therapy. Based on what is assessed, objectives are identified to formulate specific action procedures and strategies. The existing assessment tools involve lists of skills and behaviors in developmental domains without the music assessment protocol. In this study, the authors attempted to develop an assessment protocol using rhythm production for assessing skills in cognitive and emotional-behavior domain, namely Music Therapy Assessment for Cognitive and Emotional Behaviors (MACEB). The test items of the MACEB-Rhythm were developed using rhythmic patterns varying in terms of item difficulty, which are based on the various degree of clarity in the grouping/gestalt, saliency in part-whole relationship, and complexity in repetition vs. variability. Also the developed tool purported to examine one's level of emotional behavior trait by analyzing performance of musical parameters such as tempo, pacing, and loudness in the reproduced output. In order to verify the logical sequencing of test items, firstly 61 subjects participated in verifying the item difficulty for the selected 15 pilot items. The test items were revised and re-sequenced based on the gathered scores of item difficulty. In the second procedure, seven experts in the fields of music education, music therapy and music psychology whose research interest lie in music cognition revised the developed rhythm protocol items focusing on learning sequence, cognitive process and feasibility for skills assessment. The study attempted to provide foundations for using rhythm as an assessment protocol prior to its verification of assessment validity and reliability.

Tax Subsidy and Information Effect of Future Earnings (조세혜택과 미래이익의 정보효과)

  • Byun, Sun-Young;Kim, Jin-Wook;Jung, Hyun-Uk
    • Management & Information Systems Review
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    • v.35 no.4
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    • pp.123-140
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    • 2016
  • This study investigates whether tax subsidy is associated with the information effect of future earnings (Future Earnings Response Coefficient, hereafter 'FERC'). Prior studies related with tax subsidy suggest that high- tax subsidy is associated with high-Conservatism. And high-tax subsidy is associated with low-information asymmetry. The hypothesis is tested by using sample firms listed on the Korean Stock Exchange from the year of 2002 to the year of 2009 inclusively. We followed methodology of Tucker and Zarowin (2006). We find that the regression coefficient for tax $subsidy{\times}X_{t3}$ shows a significant positive sign. Also, we performed additional test after controlling for variables related with FERC. The regression coefficient for tax $subsidy{\times}X_{t3}$ is consistent with main results. This result means that the changes in the current stock price of higher-tax subsidy contain more information about their future earnings than the changes in the stock price of lower-abnormal audit hours. The evidence suggests that investors positively understand high-tax subsidy.

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Analysis of Stream Environmental Assessment Systems in Korea: Focus on the Biological Aspect (우리나라 하천 환경 평가체계의 분석: 생물분야를 중심으로)

  • Chun, Seong Hoon;Kim, Chae Baek;Kim, Woo Ram;Park, Sang Gil;Chae, Soo Kwon
    • Ecology and Resilient Infrastructure
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    • v.2 no.2
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    • pp.108-117
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    • 2015
  • This study was carried out to assess problems related to legislative regulations and guidelines concerning some biological assessment systems applied to stream corridor in Korea. We comparatively reviewed the law of stream corridors and the guidelines for master plan concerned, and the law of water quality and health assessment criteria for the aquatic ecosystem concerned. Stream environments were not managed effectively due to the absence of detail regulations and the criteria for stream assessment. A biological assessment system was not equivalently integrated within the management of water resources in process implementation of projects resulting from the dualistic management system for stream corridors in Korea. The current biological assessment system was reflected to mainly physical habitats or only oriented to some aquatic species correlated with water quality. This system was also recognized as part of environment impact assessment based on an intensive survey method of most biological taxa. Conclusively rapid and quantitative assessment techniques based on advanced organisms, such as vegetation, fish and birds, etc. should be urgently provided for considering as representative indicators of stream conditions in Korea.

Financial Status of Korean Ppuri Industry based on Credit Evaluation (2017-2019) (신용평가에 기반한 한국 뿌리기업 재무상황 (2017-2019))

  • Kim, Bo Kyung;Kim, Taek-Soo;Lee, Sangmok;Kim, Chang Kyung
    • Journal of Korea Foundry Society
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    • v.42 no.2
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    • pp.83-93
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    • 2022
  • Throughout this research course, we have analyzed the financial situation of more than 2,700 companies using credit evaluation disclosures from 2017 to 2019. The population was gathered based on the certification of Ppuri companies and Ppuri Expertise companies through the Korea National Ppuri Industry Center, accompanied by the NICE credit evaluation index. For the first time in Korea, we wanted to look at growth, profitability, and stability through financial analysis of the Ppuri industry. Through an indepth analysis, we identified operating income (rate), net income (rate), asset size, and debt ratio, along with three years of Ppuri company workers and total sales fluctuations, and looked at the financial structure per capita. In addition, financial status per person was compared by dividing Ppuri companies into six groups by employee size. Groups were 10 or fewer people, 11 to 20 people, 21 to 50 people, 51 to 200 people, 201-300 people, and 300 or more people; single individual companies were excluded for research convenience. Overall, the financial situation of Ppuri companies was judged to be in a very bad downturn, and financial indicators deteriorated over the course of the three years of investigation. In particular, the smaller the number of employees, the greater the financial fluctuations were and the worse the situations were. Among Ppuri companies, the casting industry, which is the technical starting point for the value chain of the industry, was found to also be in a very bad state, with continued workforce declines, total assets and sales reductions at severe levels, and operating income (rate) and net income (rate) also very poor. This is why we need a suitable and feasible policy direction, something that is difficult but must be allowed to develop.

Geographical Discrepancies in Residential Outcomes and Housing Expenditure of Young Married Couples in Chonsei Housing (전세 거주 청년 부부가구의 지역 간 거주환경과 주거비 차이)

  • Hyunjeong Lee;Sangjun Nam
    • Land and Housing Review
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    • v.14 no.3
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    • pp.17-36
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    • 2023
  • This research aims to investigate the socio-demographic, financial, and housing statuses of young married couples in Chonsei housing and to analyze the determinants of their residential environment quality and housing expenditure in four districts - Seoul and Gyeonggi-Incheon Area(GIA) of the Seoul Metropolitan Area(SMA), and metropolises and non-metropolises of non-SMA. From the 2020 Korean Housing Survey(KHS), this cross-sectional analysis examined a sample of 691 households, and the findings revealed that most were headed by college-educated, salaried male workers aged 31 years old. While childless dual-earner couples were common in Seoul, single-income families of three were prevalent in non-SMA. The financial status of the couples in Seoul was a lot better than in the other three areas, particularly much higher in Chonsei deposit and total asset value. Further, many lived in a three-bedroom apartment unit sized 60m2 and bigger, using a Chonsei loan. Regardless of areas, almost all the households spent a very low portion of their living expenses and income on housing costs. However, dual-earner families positively increased borrowing capacity, which improves the household's financial position that is likely to lead to equity increment in a volatile asset market in the long run. The statistical results indicated that residential environment assessment was influenced by neighborhood quality and housing expenditure was affected by housing size in Seoul, urban amenities in GIA and householder's gender in non-metropolises. Thus, this research proposes that strong measures be considered to mitigate housing inequality embedded in geographical and socio-economic disparities.

Enhancement of Coupling between Soil Water and Groundwater in Integrated SWAT-MODFLOW Model (SWAT-MODFLOW 결합모형의 토양수-지하수 연결성 개선)

  • Kim, Nam-Won;Lee, Jeong-Woo;Chung, Il-Moon;Won, Yoo-Seung
    • Journal of Korea Water Resources Association
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    • v.42 no.1
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    • pp.9-19
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    • 2009
  • This study presents the effects of temporally varied groundwater table on hydrological components such as surface runoff, evapotranspiration, and soil water content. To this end, the SWAT-MODFLOW model in which the groundwater module of SWAT is replaced with MODFLOW model has been used with a modification to enhance the coupling between the water content in soil profile and the groundwater in shallow aquifer. The variable soil layer construction technique (VSLT) is developed in the present work to represent the direct interaction of soil water and groundwater more realistically, and then the VSLT is incorporated into SWAT-MODFLOW model. In VSLT, when the simulated groundwater table rises within the soil zone, the soil layers below the water table is regarded as a portion of the shallow aquifer, so that those layers are excluded from the initially defined soil zone and are governed by the MODFLOW. From the simulation tests for the Musim river basin, the improved SWAT-MODFLOW model with VSLT is found to correctly evaluate the spatial distributions of overland flow, soil moisture, evapotranspiration according to the groundwater table variation.

An Advanced Assessment Strategy of Thermal Cracks Induced by Hydration Heat and Internal Restraint (내부구속에 의한 수화열 균열의 개선된 평가 방법)

  • Jeon, Se-Jin;Choi, Myoung-Sung;Kim, Young-Jin
    • Journal of the Korea Concrete Institute
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    • v.18 no.5 s.95
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    • pp.677-685
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    • 2006
  • Control of the temperature difference across a section is an effective strategy to minimize the hydration-heat-induced cracks for the structures where internal restraint is dominant. The domestic code, however, overestimates probability of the crack occurrence judging from the foreign codes and construction experiences of real structures. Therefore, the background of the equation presented in the domestic code was investigated step by step to examine validity of the equation, and, as a result, it was found that the equation is established on a basis of simple elastic model where the change of elastic modulus in an early age is not considered. An advanced assessment strategy was proposed taking into account the hypoelastic model which corresponds to an incremental constitutive equation. The presented procedure resulted in an increased crack index, i.e. decreased crack risk, the value of which depends on various conditions of the mix and structures. Also, a prediction equation of the temperature difference was proposed which can readily consider the effect of the curing condition and ambient temperature in a hand calculation. For further study, the assessment equation may be more classified to strictly consider the characteristics of the mix and structures if the analytical and experimental data are accumulated.