• Journal of Industrial Convergence
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• v.1 no.1
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• pp.127-142
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• 2003

This Study examines the implications for event studies using the daily stock data. The output present the event study results. The event period is defined from 30 days before through 30 days after the event date, and is broken into four "windows" for abnormal return cumulation: the pre-event period, days -30 through -2; dajys -1 and 0, a period commonly investigated for the immediate impact of the event; and the post-event period, days +1 through +30. It shows how firm's information offerings affect the price process and consequent issues. The Patell Z test is an examples of a standardized abnormal return approach, which estimate a separate standard error for each security-event and assumes cross-sectional independence. The generalized sign test adjusts for the fraction of positive abnormal returns in the estimation period instead of assuming 0.5.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.7
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• pp.131-137
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• 2020

The research investigates the impact of the lockdown period caused by the COVID-19 to the stock market of India. The study examines the extent of the influence of the lockdown on the Indian stock market and whether the market reaction would be the same in pre- and post-lockdown period caused by COVID-19. Market Model Event study methodology is used. A sample of 31 companies listed on Bombay Stock Exchange (BSE) are selected at random for the purpose of the study. The sample period taken for the study is 35 days (24 February-17 April, 2020). An event window of 35 days was taken with 20 days prior to the event and 15 days during the event. The event (t1) being the official announcement of the lockdown. The results indicate that the market reacted positively with significantly positive Average Abnormal Returns during the present lockdown period, and investors anticipated the lockdown and reacted positively, whereas in the pre-lockdown period investors panicked and it was reflected in negative AAR. The study finds evidence of a positive AR around the present lockdown period and confirms that lockdown had a positive impact on the stock market performance of stocks till the situation improves in the Indian context.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.12
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• pp.1-7
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• 2021

The study examines the influence of COVID-19 on the stock market returns of Saudi Arabia. The data was analyzed through event study methodology using daily price data of Tadawul All Share Index (TASI). The study examines the behavior pattern of the Saudi Arabian stock market in different phases during the event period by selecting six-event windows with a range of 10 days. The results report a negative Abnormal Return (AR) of -0.003 on the event date, while the abnormal returns reversed the next day to 0.005 positively. The result of Cumulative Abnormal Return (CAR) is negative and significant at the 1 percent level in all the six-event windows starting from the event date to day 59 after the event for the TASI index. Even though the influence of the COVID-19 pandemic decreased after 30 days of the event date, it increased during the last ten days of the event window. The stock market volatility of Saudi Arabia increased during the post-event period compared to the pre-event period with a negative mean return of -0.326 and a greater standard deviation. In a conclusion, the study found a significant influence of the COVID-19 pandemic on the stock market returns of TASI.

• Asia Marketing Journal
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• v.16 no.1
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• pp.21-33
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• 2014

When the negative event is published, the company tends to go through the negative impact on the firm performance. Especially, with the SNS, the negative event is instantly spread on indefinite region so the impact seems bigger than the period before the SNS media appearance. It seems that everyone considers the SNS media impact on the firm performance quite big. However, there has been no empirical study on the impact comparison on the firm performance between pre and post SNS media occurrence periods. This study tries to empirically compare the impact of the negative event on the firm performance between pre and post SNS media appearance. Our study starts fromthe basic but not verified question; Does really the negative event have more negative impact in the post-SNS-occurrence period than in the pre-SNS-occurrence period? In order to examine the impact of the negative publicity on firm performance in two eras, pre and post SNS media appearance, we used CAR (Cumulative Abnormal Resturns) model. By using this model, we could verify the statistical significance of cumulative abnormal returns in market between before and after the events. For event samples, we focused on food manufacturers and collected the negative events from 1991 to 2003 for pre-SNS occurrence period, and from 2010 to 2013 for post-SNS occurrence period. Based on the listed food companies at KOSPI, we researched Naver News Library (newslibrary.naver.com) and Naver News (news.naver.com) for all the individual negative events published for both periods. Firm returns data were collected from TS 2000 (KOCO Info) and market portfolio data were collected from KRX Exchange. Through our empirical analysis, our finding is interesting to note that the type of events differently influences on the firm performance. With the SNS, the health-related events have influence on the firm performance 'after the event day' whereas the company behavior trust events have influence 'before the event day'. Our findings have implications for management. When a negative event directly related to or threatening customers or their life such as health, it is crucial to fix up the situation right after the event occurs. On the other hand, when a negative event is not publicly available information such as company behavior trust, it is important for marketers to strengthen the firms' trust reputation and control the bad WOM before the event.

• Korean System Dynamics Review
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• v.14 no.1
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• pp.31-53
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• 2013

The purpose of this study is to explain the impact of hosting mega event using the system dynamics and to establish the model for analysis of the impact of hosting mega event. The results are as follows. First, the growth of inbound tourists have influenced long term effect. Second, the export has increased for a limited period only after the hosting mega event, but the increase in export returned to the previous state in terms of economic impact of mega event. Third, nation brand has been improved for a limited period only such as the economical impact in terms of socio-cultural impact of mega event. Last, citizenship consciousness has been improved after hosting mega event. Further researches have to be carried out to modify and reinforce the model.

• Journal of Distribution Science
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• v.13 no.9
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• pp.5-11
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• 2015

Purpose - The purpose of this research is to provide insights that can be used for deliberate decision making around challenging big data investments by measuring the economic value of such big data implementations. Research design, data, and methodology - We perform empirical research through an event study. To this end, we measure actual abnormal returns of companies that are triggered by their investment announcements in big data, or firm size information, during the three-year research period. The research period targets a timeframe after the introduction of big data at Korean firms listed on the Korea stock markets. Results - Our empirical findings discover that on the event day and the day after, the abnormal returns are significantly positive. In addition, our further examination of firm size impacts on the abnormal returns does not show any evidence of an effect. Conclusions - Our research suggests that an event study can be useful as an alternative means to measure the return on investment (ROI) for big data in order to lessen the difficulties or decision making around big data investments.

• Korean Institute of Interior Design Journal
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• v.18 no.3
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• pp.66-73
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• 2009

In the digital age, as it is ambiguous to distinguish between the original and a replica, the order of reproduction which is more realistic than the reality is becoming a new cultural order. Before the period when digital paradigm dominates, always the reality has been an object to be copied. But, today is an age of Simulacre where code of digital technology dominates. Such a phenomenon is shown in the construction space without exception Gilles Deleuze who was a representative philosopher of the post-structuralism depicted the concept of Simulacre as an instant 'event' passing by without change in an object or substance. As the result of analyzing what kinds of feature for the concept of event is expressed in the digital space, a diagram itself could be a design process, the digital space with correlation was able to be created through the change in the meaning according to the changing image and my body which was the leading part to form primary space. In such a meaning, this study pays attention to Deleuze's 'Event(Simulacre)' concept. At this transitional period when a new concept of digital space is about to take root, the modern philosophers' theories and the discussions about spatial relativity should be continually studied, along with the development of spacial theories for the modem construction.

• The Journal of Information Technology
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• v.9 no.4
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• pp.75-85
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• 2006

This study is to test the influence of stock option granting information on the firm's performance. The important issue in stock option is that agent cost is the important determinant factor for the long term performance. The agent cost arises between the manager and shareholders. So many study are concentrated in diminishing the agent cost, and develop some substitute tools to measure the agent cost. The event study about stock option analyzes returns around event date at a time. Event study provides estimation periods and cumulative returns. Announcements about stock option are generally associated with positive abnormal returns in short term period, but not showing positive effect in long term period. It is important to investigate the responses of stocks to new information contained in the announcements of stock option. Therefore it is important to study the long term performance in the case of stock option. The event time portfolio approach exists the CAR model, BHAR model and WR model. And the calendar time portfolio approach has the 3 factor model, 4 factor model, CTAR model, and RATS model. This study is forced to develop and arrange two approach method in evaluating the performance, the event time portfolio approach and calendar time portfolio approach.

• Proceedings of the Korean Society of Computer Information Conference
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• 2019.07a
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• pp.61-62
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• 2019

RPG장르를 기준으로 게임이용등급별 게임들의 평균 이벤트 기간의 차이를 조사, 분석한 결과, 게임이용 등급별 게임들의 이벤트 실시 기간의 평균의 차이를 보이지 않고 있음을 알 수 있다. 이에 본 연구에서는 정액제와 부분유료화 등 요금정책을 기반으로 정액제를 실시하고 있는 게임과 부분유료화를 실시하고 있는 게임간의 이벤트 실시 기간의 평균의 차이를 연구하였다.

• 제어로봇시스템학회:학술대회논문집
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• 2003.10a
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• pp.1134-1139
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• 2003

Tracking is a fundamental technique which is able to be applied to gesture recognition, visual surveillance, tangible agent and so forth. Especially, multiple object tracking has been extensively studied in recent years in order to perform many and more complicated tasks. In this paper, we propose a new approach of multiple object tracking which is based on discrete event. We call this system the DEMOT (Discrete Event based Multiple Object Tracking). This approach is based on the fact that a multiple object tracking can have just four situations - initiation, continuation, termination, and overlapping. Here, initiation, continuation, termination, and overlapping constitute a primary event set and this is based on the change of the number of extracted objects between a previous frame and a current frame. This system reduces computational costs and holds down the identity of all targets. We make experiments for this system with respect to the number of targets, each event, and processing period. We describe experimental results that show the successful multiple object tracking by using our approach.