• Journal of Technology Innovation
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• v.25 no.2
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• pp.89-125
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• 2017

Complex product systems (CoPs) is a engineering-intensive products with high-ended design technology, which are closely linked with national economic growth and development of social infrastructures. Accordingly, in order to understand the technological evolution of CoPs, it is necessary to identify the macro-environmental drivers surrounding the CoPs and their impact on the technological evolution of the CoPS. Therefore, we investigate the effect of policy, economic and social drivers on the technological evolution of CoPS by implementing the longitudinal case study on nuclear power plant during the periods between 1950 and 2010s. Based on the analysis of various sources of secondary data and primary data through interviews, we found that the technological evolution of nuclear power plant is progressed as "Phase 1: Application research for peaceful utilization of nuclear energy" between 1950s and 1960s, "Phase 2: The first renaissance of nuclear energy" during 1970s, "Phase 3: Enhancement of safety and the catch-up of latecomers in nuclear energy" between 1990s and 2000s, and "Phase 4: Top prioritization of safety and the development of next generation reactors for the second renaissance of nuclear energy" since 2010s. We also found that various kinds of policy, economic and social drivers, such as energy policy, investment in technology development, economic growth and energy demand, social acceptability and environmental concern, have affected the technology evolution of nuclear power plant at each phase. We emphasize the role of macroenvironmental drivers in the technological evolution of CoPS. We also suggest that countries that endeavor to develop CoPs need to utilize those drivers for enhancing competitiveness and sustaining leadership.

• The Korean Journal of Financial Studies
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• v.3 no.1
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• pp.233-265
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• 1996

We examine the impact of public and private information on price movements using the thirty DJIA stocks and twenty-one NASDAQ stocks. We find that the standard deviation of daily returns on information days (dividend announcement, earnings announcement, insider purchase, or insider sale) is much higher than on no-information days. Both public information matters at the NYSE, probably due to masked identification of insiders. Earnings announcement has the greatest impact for both DJIA and NASDAQ stocks, and there is some evidence of positive impact of insider asle on return volatility of NASDAQ stocks. There has been considerable debate, e.g., French and Roll (1986), over whether market volatility is due to public information or private information-the latter gathered through costly search and only revealed through trading. Public information is composed of (1) marketwide public information such as regularly scheduled federal economic announcements (e.g., employment, GNP, leading indicators) and (2) company-specific public information such as dividend and earnings announcements. Policy makers and corporate insiders have a better access to marketwide private information (e.g., a new monetary policy decision made in the Federal Reserve Board meeting) and company-specific private information, respectively, compated to the general public. Ederington and Lee (1993) show that marketwide public information accounts for most of the observed volatility patterns in interest rate and foreign exchange futures markets. Company-specific public information is explored by Patell and Wolfson (1984) and Jennings and Starks (1985). They show that dividend and earnings announcements induce higher than normal volatility in equity prices. Kyle (1985), Admati and Pfleiderer (1988), Barclay, Litzenberger and Warner (1990), Foster and Viswanathan (1990), Back (1992), and Barclay and Warner (1993) show that the private information help by informed traders and revealed through trading influences market volatility. Cornell and Sirri (1992)' and Meulbroek (1992) investigate the actual insider trading activities in a tender offer case and the prosecuted illegal trading cased, respectively. This paper examines the aggregate and individual impact of marketwide information, company-specific public information, and company-specific private information on equity prices. Specifically, we use the thirty common stocks in the Dow Jones Industrial Average (DJIA) and twenty one National Association of Securities Dealers Automated Quotations (NASDAQ) common stocks to examine how their prices react to information. Marketwide information (public and private) is estimated by the movement in the Standard and Poors (S & P) 500 Index price for the DJIA stocks and the movement in the NASDAQ Composite Index price for the NASDAQ stocks. Divedend and earnings announcements are used as a subset of company-specific public information. The trading activity of corporate insiders (major corporate officers, members of the board of directors, and owners of at least 10 percent of any equity class) with an access to private information can be cannot legally trade on private information. Therefore, most insider transactions are not necessarily based on private information. Nevertheless, we hypothesize that market participants observe how insiders trade in order to infer any information that they cannot possess because insiders tend to buy (sell) when they have good (bad) information about their company. For example, Damodaran and Liu (1993) show that insiders of real estate investment trusts buy (sell) after they receive favorable (unfavorable) appraisal news before the information in these appraisals is released to the public. Price discovery in a competitive multiple-dealership market (NASDAQ) would be different from that in a monopolistic specialist system (NYSE). Consequently, we hypothesize that NASDAQ stocks are affected more by private information (or more precisely, insider trading) than the DJIA stocks. In the next section, we describe our choices of the fifty-one stocks and the public and private information set. We also discuss institutional differences between the NYSE and the NASDAQ market. In Section II, we examine the implications of public and private information for the volatility of daily returns of each stock. In Section III, we turn to the question of the relative importance of individual elements of our information set. Further analysis of the five DJIA stocks and the four NASDAQ stocks that are most sensitive to earnings announcements is given in Section IV, and our results are summarized in Section V.

• Journal of Environmental Impact Assessment
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• v.30 no.2
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• pp.105-116
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• 2021

In the city of high population density crowded with buildings, Urban Heat Island (UHI) is intensified, and the city is vulnerable to thermal comfort. The maintenance of vacant land in downtown is treated as a factor that undermines the residential environment, spoils the urban landscape, and decreases the economic vitality of the whole region. Therefore, this study compared the effects on microclimate in the surrounding area according to the development scenarios targeting the vacant land in Songhyeon-dong, Jongno-gu, Seoul. The status quo, green oriented, building oriented and green-building mediation scenarios were established and ENVI-met was used to compare and analyze the impact of changes in wind speed, air temperature and mean radiant temperature (MRT) within 1 km of the target and the target site. The result of inside and 1 km radius the targeted area showed that the seasonal average temperature decreased and the wind speed increased when the green oriented scenario was compared with the current state one. It was expected that the temperature lowered to -0.73 ℃ or increased to 1.5 ℃ in summer, and the wind speed was affected up to 210 meters depending on the scenario. And it was revealed that green area inside the site generally affects inside area, but the layout and size of the buildings affect either internal and external area. This study is expected to help as a decision-making support tool for developing Songhyeon-dong area and to be used to reflect the part related to microclimate on the future environmental effects evaluation system.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.11 no.4
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• pp.1-15
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• 2016

Startups in Korea are experiencing for themselves the laws of survival through competition in the local and international market, and are performing active business movements based on these. Korea's economic growth rate is 2.6% due to the slump in the domestic demand and reduced exports brought by the MERSC incident in 2015. The Korea Development Institute has estimated the economic growth rate in 2016 to be around 3.0%. South Korea's economy is facing the crisis of low-growth solidification due to the decrease in economic growth, and it is forecasted that growth without employment and polarization will worsen. Startups in the high-tech industrial generation of a particular field wherein the market environment is rapidly changing must maintain a competitive advantage with the capabilities and functions exclusive to them. It is very important that they maintain a competitive edge by utilizing the capabilities exclusive to startup companies. Likewise, the accumulation of resources is also crucial in determining the success of a startup business. In a poor local startup ecosystem, majority of the startup companies are performing their business activities while striving for survival, rather than success. About 80% are struggling to survive and are failing to overcome the "Death Valley" faced 3-5 years after establishing the company. Since majority of the startups fail to achieve results during the initial stages of foundation, the importance of research on business activities and achievement during the early stages of establishment is being raised. In accordance to this, this research has performed an actual analysis on how the activities of startups during their preparation phase and early stages affect their achievements. A survey was done on the CEOs or executives (people in a position to make decisions) of local small and medium-sized enterprises that are considered start-ups, and 203 valid data were collected and analyzed. Results showed that the discoveries and utilized activities necessary for the businesses of startups have a significant impact on their achievement through the entrepreneur resources and external partners' cooperation; additionally, the related implications were discussed.

• KIPS Transactions on Computer and Communication Systems
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• v.6 no.11
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• pp.437-444
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• 2017

Electric Pole is a supporting beam used for power transmission/distribution which is sensitive to external force change of environmental factors. Therefore, power facilities have many difficulties in terms of maintenance/conservation from external environmental changes and natural disasters that cause a great economic impact. The aerial wire cause elasticity due to the influence of temperature, or factors such as wind speed and wind direction, that weakens the electric pole. The situation may lead to many safety risk in day-to-day life. But, the safety assessment of the pole is carried out at the design stage, and aftermath is not considered. For the safety and maintenance purposes, it is very important to analyze the influence of weather factors on external forces periodically. In this paper, we analyze the acceleration data of the sensor nodes installed in electric pole for maintenance/safety purpose and use Kalman filter as noise compensation method. Fast Fourier Transform (FFT) is performed to analyze the influence of each meteorological factor, along with the meteorological factors on frequency components. The result of the analysis shows that the temperature, humidity, solar radiation, hour of daylight, air pressure, wind direction and wind speed were influential factors. In this paper, the influences of meteorological factors on frequency components are different, and it is thought that it can be an important factor in achieving the purpose of safety and maintenance.

• The Korean Journal of Applied Statistics
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• v.28 no.4
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• pp.603-620
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• 2015

The National Pension of Korea is a public social security system designed to alleviate social risks and poverty that has had a major impact on the quality of life for the aging population. However, a rapidly aging population and low fertility threaten the sustainability of national pension in Korea. The National Pension Research Institute publishes a nancial projection every ve years; consequently, the government has lowered the entitlements for the sustainability of national pension based on the projection results. The current reform of the pension system that arbitrarily reduces the entitlements might detract from the income security role of the national pension for pensioners without accounting for the highest elderly poverty rate in the OECD countries. We first discuss methods for the financial projection of the national pension in terms of population, subscribers, and pensioner projections in order to estimate the pension reserve fund and the financial depletion year. We also conduct a sensitivity analysis for population variables, institutional variables, and economic variables based on pension reserves and the financial depletion year. We evaluate intergenerational fairness between the income hierarchy by conducting a money's worth analysis. Finally, we investigate the possibility of the sustainability of national pension by adjusting pension contributions and entitlements (income replacement rate). A new dependency ratio shows that a simple reform of the national pension does not secure the sustainability of the national pension without adapting a pay-as-you-go system.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.8 no.2
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• pp.63-74
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• 2013

Today's universities are adding economic development to their more traditional mandates of teaching and research. According, the need to foster student entrepreneurship has become increasingly important. The main aim of this research is to examine the effect of entrepreneurial education and various programs within the universities on students' entrepreneurial intentions and interests. The sample for this research majored mainly on the students who are attending the 18 universities, where entrepreneurship education and entrepreneurial programs were selected as the leading ones from the government. The data was obtained from the questionnaire distributed to the students of those universities. A total number of 1,000 questionnaires were distributed and 735 were retrieved back. Descriptive and chi-square analysis using the SPSS were considered most appropriate for the data analysis of the study used. The results of the analysis revealed that student's exposure to entrepreneurship education and various entrepreneurial programs have a important influence on the students' entrepreneurial intentions and interests. Examining the impact of entrepreneurial education and programs on students' entrepreneurial activities tends to raise or provide some useful insights into some theoretical issues on one hand. And on the other hand, it raises some practical implications for policy makers both in the government and universities.

• The Journal of the Korea institute of electronic communication sciences
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• v.10 no.8
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• pp.851-860
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• 2015

Transport Social Overhead Capital refers to public utilities necessary for a nation's basic economic activities, and is divided into roads, railway, subway, ports and so on. It is important to be able to provide these SOC in the right place at the right time to enhance productivity and competitiveness of a nation. In this study, correlation and factor analysis on countries' socioeconomic and transport indicators were performed in order to understand the need for expansion of SOCs including railway, and to identify the impact they have on national competitiveness(productivity). As a result, GDP showed high correlativity(0.59~0.99) with factors such as population, land area, extension of available railroad, and road extension. Specifically, through the analysis of Russia's urban transport system and comparison between socioeconomic indices and SOCs of OECD countries, it was examined that how increasing transport infrastructure investments could enhance national competitiveness. In conclusion, opening new Light Rail greatly affects the growth of GDP followed by the increasing extension of available railroad. Furthermore, if available railroad extension is increased by 10 % from 2014, assuming high speed tram is opened, GDP will likely increase by 21.6%.

• Journal of Technology Innovation
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• v.23 no.3
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• pp.225-253
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• 2015

The standard is a nation's one of the most important industrial issues that improve the social and economic efficiency and also the basis of the industrial development and trade liberalization. This research analyzes the enactment and the utilization of Korean industrial standards(KS) of various industries. This paper examines Korean industries' KS utilization status based on the KS possession, enactments and inquiry records. First, we implement multidimensional scaling method to visualize and group the KS possession records and the nation's institutional issues. We develop several hypothesis to find the decision factors of how each group's KS possession status impacts on the standard enactment activities of similar industry sectors, and analyzes the data by implementing regression analysis. The results show that the capital intensity, R&D activities and sales revenues affect standardization activities. It suggests that the government should encourage companies with high capital intensity, sales revenues to lead the industry's standard activities, and link the policies with the industry's standard and patent related activities from R&D. Second, we analyze the impacts of each KS data's inquiry records, the year of enactments, the form and the industrial segment on the utilization status by implementing statistical analysis and decision tree method. The results show that the enactment year has significant impact on the KS utilization status and some KSs of specific form and industrial segment have high utilization records despite of short enactment history. Our study suggests that government should make policies to utilize the low-utilized KSs and also consider the utilization of standards during the enactment processes.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.19 no.8
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• pp.160-166
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• 2018

This study was conducted to analyze the Ego Integrity, Subjective Pain, Subjective Health, Subjective Happiness and Social Support level of Community Dwelling elderly, and to analyze the variables that impact their Ego Integrity. Methods: A total of 250 elderly aged 60 years or above visiting a Senior Welfare Center in j city and j group of Jeonbuk were selected as subjects of this study for collection and analysis of data. Data were collected from January 8 to February 26, 2008 from 250 community-dwelling elders in Korea and subjected to descriptive analysis, t-test, ANOVA, Pearson's Correlation Coefficient, and multiple regression analysis. Results: only economic strength was influenced by general characteristics. Additionally, Subjective Pain, Subjective Health, and Subjective Happiness and Social Support l were found to have a statistically positive correlation with Ego Integrity. Finally, the most influential variables on the elderly Ego Integrity were Social Support (${\beta}=.194$, p=.002), followed by Subjective Health (${\beta}=.149$, p=.040) and four variables explaining 10.8% of the elderly Ego Integrity. Conclusion: it is necessary to develop specific intervention programs to improve Social Support and Subjective Health among Community Dwelling elderly to make it possible to enable Ego Integrity.