• The Journal of the Convergence on Culture Technology
• /
• v.5 no.3
• /
• pp.113-118
• /
• 2019

This study analyzed how interdependence between China, Hong Kong, Taiwan and Singapore stock markets changed after the implementation of Shanghai-Hong Kong Stock Connect system using the EGARCH-GED model that allow simultaneous analysis of return and variability. Since the implementation of this system, the interdependence of Taiwan stock market with the Greater China stock markets has been weakened, and the interdependence of Singapore's stock market with the Greater China stock markets has not been exist. On the other hand, he interdependence between China and Hong Kong stock markets has been shown to be significantly enhanced since the implementation of this system. This is appears to be the result of improved conditions for Chinese and Hong Kong investors to invest in the two stock markets following the implementation of this system. Thus, considering the portfolio investment in the Greater China stock markets, the investors will need to develop their investment strategies in light of these facts that the weakening interdependence of the Taiwan and Singapore securities markets and the strengthening interdependence of the Chinese and Hong Kong securities markets.

• Journal of Digital Convergence
• /
• v.17 no.9
• /
• pp.127-133
• /
• 2019

A callable product is one of service derivatives using options to generate demand and reduce risk. This paper compares two booking admission controls for callable products, the online and the batch admission controls. To this end, the paper computes the optimal booking policy by using the backward dynamic programming and the stochastic optimization method. Intuitively, the provider should outperform under the batch control by utilizing demand information. The contribution of the paper is to show that the two controls are equivalent in terms of the booking strategy and the expected profit, which enables the provider to keep its current control method. The paper develops the closed-form solutions for the three fare classes. The future work is to extend the result to the model with complicated fare structures.

• Journal of Digital Convergence
• /
• v.17 no.9
• /
• pp.39-46
• /
• 2019

This study started with the question of whether the percentage of non-aeronautical revenues at Incheon airport was extremely high when compared with other international airports. Although aeronautical revenues for the airport based on the traditional business model have the limits to grow due to various regulations, stakeholders concerned about improving the competitiveness recently have been interested in increasing non-aeronautical revenues. This study deals with the effect of non-aeronautical revenues at international airports on airport charges as the extent of airport privatization get stronger. To examine hypotheses, we collected international data from trustful sources. Finally, we conducted an empirical analysis of 178 airports worldwide. As a result, the higher the percentage of non-aeronautical revenues at international airports, the lower the airport charges were. Besides, the private equity ratio positively moderated the relationship between the percentage of non-aeronautical revenues and airport charges. Privatization of airports may offset the effects of reduced airport charges through increased commercial activity. Graphical display for moderation effect is offered to facilitate comprehension.

• The Journal of the Convergence on Culture Technology
• /
• v.5 no.2
• /
• pp.183-188
• /
• 2019

This study analyzed the effects of short-term interest rates, exchange rates and international oil prices on international grain prices using the EGARCH-GED model. The yield before one month of the international grain prices itself was found to have a significant effect on international grain prices for most periods. During the entire analysis period, none of the economic variables appeared to have a significant effect on international grain prices, whereas during the exchange fall period, only oil prices were shown to have a significant effect on international grain prices. In addition, during the pre-crisis period, interest rates, exchange rates and oil prices did not all have a significant effect, but during the post-crisis period only oil prices had a significant effect on international grain prices. It turns out that the factors affecting international grain prices are changing with the passage of time.

• The Journal of the Institute of Internet, Broadcasting and Communication
• /
• v.19 no.5
• /
• pp.135-141
• /
• 2019

South Korea's smart factory drive is at a very important point. While large-scale funds and manpower are invested to secure international competitiveness and revitalize manufacturing, software investments that are only approached by IT suppliers may end up creating systems that do not meet the actual conditions of the field. As a result, there are problems in the manufacturing sector that can cause consumers to feel the fatigue of innovation in the manufacturing sector. SMEs should check from scratch and establish a gradual integration system so that they can reduce failures in IT investments and implement OT-oriented smart factories that are well utilized in the field. To this end, a process visualization solution was proposed and a step-by-step innovation was proposed at the basic level and the ICT unapplied level.

• Journal of Digital Convergence
• /
• v.19 no.3
• /
• pp.137-149
• /
• 2021

This study examined the effects of procedural justice on two facets of OCB (OCBI and OCBO) in local public enterprises and the mediating role of intrinsic motivation in these relationships. We verified the hypothesis established by a structural equation model based on PLS. The research data were collected through a survey of 269 employees working for local public enterprises. Research has shown that procedural fairness has a positive effect on intrinsic motivation, organizational citizenship behavior directed at individuals (OCBI), and organizational citizenship behavior directed at the organization (OCBO), while intrinsic motivation has a positive effect on OCBI and OCBO. In addition, intrinsic motivation has been found to have a partial mediating effect in the procedural justice-OCBI relationship and the procedural justice-OCBO relationship respectively. Finally, we present theoretical and practical implications that organizations need to activate intrinsic motivation so that members can induce voluntary organizational civic action through improved procedural fairness.

• The Journal of the Convergence on Culture Technology
• /
• v.7 no.1
• /
• pp.511-517
• /
• 2021

In this paper, we analyzed the impact of capital adequacy requirements on the profitability of Korean banks using DOLS model. As a result of the analysis, the impact of BIS capital ratios on commercial and regional banks was different. Demand for capital adequacy has a greater and more significant negative impact on regional banks than on commercial banks. It was shown that bank characteristic variables rather than macroeconomic variables have a more significant effect on bank profitability. In addition, a rise in the BIS capital ratio reduces the profitability of commercial and regional banks, and the higher the ratio of loan-loss provisions, the stronger the relationship. In the case of commercial banks, it is estimated that the demand for capital adequacy did not have a significant impact as they are relatively large and faithful in capital compared to regional banks. However, in the case of regional banks, safer assets need to be selected to meet the BIS capital ratio, and the increasing propotion of these safe assets seems to have a relatively greater negative impact on profitability. Consequency, the financial authorities should consider this results and implement the bank's capital regulation policy.

• Journal of the Korea Institute of Information and Communication Engineering
• /
• v.25 no.1
• /
• pp.1-7
• /
• 2021

Investor mood from social media is gaining increasing attention for leading a price movement in stock market. Based on the behavioral finance theory, this study argues that sentiment extracted from social media using big data technique can predict a real-time (short-run) price momentum in Chinese stock market. Collecting Sina Weibo posts that related to COVID-19 using keyword method, a daily influential weighted sentiment factors is extracted from the sizable raw data of over 2 millions of posts. We examine one supervised and 4 unsupervised sentiment analysis model, and use the best performed word-frequency and BiLSTM mdoel. The test result shows a similar movement between stock price change and sentiment factor. It indicates that public mood extracted from social media can in some extent represent the investors' sentiment and make a difference in stock market fluctuation when people are concentrating on a special events that can cause effect on the stock market.

• Journal of Digital Convergence
• /
• v.19 no.1
• /
• pp.151-165
• /
• 2021

The purpose of this research is to explore the impact of managers' leadership on organizational innovation behavior in Star-Rated hotels. 244 valid Chongqing hotels' questionnaires were obtained. Through SPSS 23.0, the model structure was verified between the four variables. The results as below. First, transformational, transactional leadership has a positive impact on organizational innovation behavior. Second, transformational, transactional leadership has a significant effect on empowerment. Third, empowerment has a positive impact on organizational innovation behavior. Lastly, empowerment plays a mediation effect between transformational, transactional leadership, and organizational innovation behavior. In conclusion, managers can contribute to organizational innovation behavior by improving the abilities of leadership.

• Journal of Digital Convergence
• /
• v.20 no.4
• /
• pp.55-62
• /
• 2022

The purpose of this study is to investigate the role of Gyeonggi provincial governments in smart city policy. In order to satisfy the purpose of the study, we closely identified how may local governments(si. gun) have been taking participated in smart city project of the central government, and its characteristics. Then we know the detailed strategies that Gyeonggi provincial governments should do. Gyeonggi-do provincial governments enacted smart city-related ordinances in 2020 and participated in the Smart City Local Council. In the future, Gyeonggi privincial government will propose amendments to the law, review participation in the central government smart city policy project, the "integrated platform construction project of the metropolitan government model", and propel Gyeonggi-do's own smart city policy based on the blind spots of the policy.