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A Study on the Efficiency of the Foreign Exchange Markets: Evidence from Korea, Japan and China

  • Yoon, Il-Hyun;Kim, Yong-Min
    • Asia-Pacific Journal of Business
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    • v.11 no.1
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    • pp.61-75
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    • 2020
  • Purpose - The purpose of this study was to examine the efficiency of the foreign exchange markets in Korea, Japan and China. Design/methodology/approach - This study collected 1327 observations each of the daily closing exchange rates of the three currencies against the US dollar for the sample period from January 1, 2015 to January 31, 2020, based on the tests for autocorrelation, unit root tests and GARCH-M(1,1) model estimation. Findings - We have found that the autocorrelation test indicates the lack of autocorrelation and unit root test confirms the existence of unit roots in all times series of the three currencies, respectively. The GARCH-M(1,1) test results, however, suggest that the exchange rates do not follow a random walk process. In conclusion, the recent spot foreign exchange markets in Korea, Japan and China are believed to be informationally inefficient. Research implications or Originality - These findings have practical implications for both individual and institutional investors to be able to obtain excess returns on their investments in the foreign exchange markets in three countries by using appropriate risk management, portfolio strategy, technical analysis, etc. This study provides the first empirical examination on the foreign exchange market efficiency in the three biggest economies in Asia including China, which has been excluded from research due to its exchange rate regime.

Experience of Clinical Adaptation among Nurses in Intensive Care Unit (중환자실 간호사의 임상 적응 경험)

  • Hong, Jin Young;Sohn, Sue Kyung
    • Journal of Korean Critical Care Nursing
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    • v.17 no.1
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    • pp.1-16
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    • 2024
  • Purpose : This study aimed to explore and describe intensive care unit (ICU) nurses' experience of clinical adaptation. Methods : The participants were 14 ICU nurses with more than two years of working experience in the ICU. Data were collected through in-depth individual interviews conducted between July and October 2021. Theoretical sampling was used to the point of theoretical saturation. Data were analyzed using the Strauss and Corbin method. Results : A total of 79 concepts, 37 subcategories, and 16 categories were identified through open coding. Axial coding based on the paradigm model revealed that the central phenomenon was "The harsh adversity faced in the nursing field where life and death are determined" and the core category was "Enduring the adversity of caring for critically ill patients and achieving self-realization." ICU nurses' clinical adaptation process was explained in five phases: "confrontation period," "turbulent period," "seeking period," "struggling period," and "stabilized period." The five phases that affect interventional conditions were "Support from reliable people," "Recognition of administrative and financial support." Conclusion : This study provided novel insights for a comprehensive understanding of ICU nurses' clinical adaptation processes. Furthermore, the findings are expected to be used as basic data to develop multifaceted strategies to help ICU nurses' adaptation to critical care.

MIS에 있어 혁신 연구: 문제점과 방향

  • 백상용;박경수
    • Proceedings of the Korea Society for Industrial Systems Conference
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    • 2000.05a
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    • pp.23-31
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    • 2000
  • 혁신의 정의는 연구 관점과 범위에 따라 상이하게 정의되고 있다. 다양한 학문 분야의 혁신 연구를 종합하여 혁신 확산 이론을 체계적으로 정립한 Rogers(1995)는 혁신을 "채택하여 활용하는 개인이나 조직이 새로운 것으로 인식하는 아이디어, 행위, 개체 (An idea, practice, or object that is perceived as new by an individual or other unit of adoption)"로 정의하고 있다. 한편 Becker & Whisler(1967)은 혁신을 "대상 모집단 중에서 특정 아이디어를 최초로 혹은 초기에 사용하는 것 (the first or early use of an idea by one of a set of organizations with similar goals)"으로 정의하였다.(중략))"으로 정의하였다.(중략).(중략)

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A Study on Management of University Archives (대학 보존기록물 관리에 관한 고찰)

  • Yun, Yeong
    • Journal of Korean Library and Information Science Society
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    • v.30 no.3
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    • pp.117-128
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    • 1999
  • University archives will be arranged, first, in the ordering of groups of records in relation to each other, asnd secondly, in the ordering of individual items within the groups at least five levels - the depository level, the record group and subgroup levels, the series level, the filing unit level, and the document level - of arrangement. Finally, university archives will be classified by, first, the provenance, secondly the subject, thirdly the chronological or alphabetical order at the levels above.

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Management and development models of software projects for system integration (시스템 통합을 위한 소프트웨어 과제 관리 및 개발 모형)

  • 한영근;이규봉;권순기
    • Proceedings of the Korean Operations and Management Science Society Conference
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    • 1996.04a
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    • pp.225-229
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    • 1996
  • In order to accomplish large-size information systems successfully, one of the most improtant factor is the system integration(SI) of individual software projects which consist of the systems. A developer of each project should consider aspects of SI through the development cycle, and a manager of the entire system should manage, control, and evaluate each from a SI point of view. In this research, management models for the system managers, development models for the developers of unit projects, and standardized output documents for the management and evaluation purpose are presented based on the SI concepts.

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A Study on the Specification-Oriented Control Chart (제품규격중심(製品規格中心)의 관리도(管理圖)에 관한 고찰(考察))

  • Kim, Gwang-Seop
    • Journal of Korean Society for Quality Management
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    • v.7 no.2
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    • pp.3-6
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    • 1979
  • The Specification-Oriented Control Chart is obtained by moving from the tolerance limits toward the center line. And when chart are based on center lines, no automatic tie-in with tolerance is provided. The author recomend the Specification-Oriented Control Chart in instances where tolerance limits on the individual unit or product must be met.

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Design of Card-Type Production Planning and Management System for Special Gas Manufacturers (주문 생산형 특수가스 제조업을 위한 카드식 생산관리체계 설계)

  • 김내헌;장중순;임석철
    • Journal of Korean Society of Industrial and Systems Engineering
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    • v.16 no.28
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    • pp.9-19
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    • 1993
  • We present a production planning and control system suitable for small to medium sized, order-based companies producing special gases of small-quantity. The proposed system uses cards each of which represents individual unit of order. The components and procedure of the system are described in detail. The proposed system is easy to implement because it visualizes the amount and distribution of the received orders; and requires minimum aid of computer.

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Epidemic Trends of Upper Gastrointestinal Tract Abnormalities: Hospital-based study on Endoscopic Data Evaluation

  • Mohiuddin, Mohammed Khaliq;Chowdavaram, Suman;Bogadi, Varun;Prabhakar, Boddu;Rao, Kondadasula Pandu Ranga;Devi, Suneetha;Mohan, Vasavi
    • Asian Pacific Journal of Cancer Prevention
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    • v.16 no.14
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    • pp.5741-5747
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    • 2015
  • Purpose: To understand the epidemiology of different upper gastrointestinal (UGI) tract related abnormalities through endoscopic data analysis. Materials and Methods: A retrospective study of three years from January 2009 to December 2011 was conducted with data from endoscopic surveillance of upper GI tract problems, collected from the Gastroenterology Unit, Osmania General Hospital, Hyderabad. MS excel and Medcalc software (comparison of proportions) were used for data analysis. Results: A total of 10,029 (6,468 in males and 3,561 in females) endoscopies were performed during this three-year period. The male to female ratio was 1.8:1. Overall, ~30% of endoscopies evaluated showed patients with acid peptic disorders, 13.6% with vascular-related abnormalities, 10.6% showed structural abnormalities, followed by 6.3% with malignancies. Burden of malignancies was mostly observed in the older age group (60-69 years). Esophageal cancer cases decreased (p=0.0001) whereas stomach cancers increased over this period (p=0.0345). We also observed an increased incidence of acid peptic disease (APD) (p=0.0036) and gastroesophageal reflux disease (GERD) (p=0.0002) cases during this period. Conclusions: Endoscopic diagnosis is useful for early detection of UGI anomalies and helpful for physicians to manage and treat varied kinds of UGI disorders. Analysis of data revealed changing trends in the incidence of various pathologies of the UGI tract. Functional dyspepsia and GERD definitely reduce the quality of life of the individual. The role of our diverse dietary habits and lifestyle associated with these problems have not yet been established, though there have been reports on the effect of coffee, spicy food, wheat-based diet, screening of UGI pathologies along with collection of complete personal and medical history details, can h elp in correlating the patients' condition with various aspects of lifestyle and diet.

Development and Performance Validation of Integrated Bus Electronic Unit for Small Satellite (소형위성용 통합형 전장박스의 개발 및 성능검증)

  • Chang, Jin-Soo;Kim, Dong-Woon;Kang, Suk-Jin;Lee, Byung-Hoon;Moon, Byoung-Young;Chang, Young-Keun
    • Journal of the Korean Society for Aeronautical & Space Sciences
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    • v.35 no.4
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    • pp.353-362
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    • 2007
  • Unlike large satellites, small satellites, such as nanosatellite and microsatellite, can provide a limited interior space for components mounting. In order to mitigate this issue, the compact Bus Electronic Unit(BEU) that integrates satellite electronic modules, combining most of bus subsystems and payload electronic modules into one unit, has been developed for HAUSAT-2 nanosatellite. This paper addresses the design and environmental test result analyses of BEU. The vibration and thermal vacuum tests were conducted at qualification level for the verification of design margin of newly developed BEU. The performance of individual electronic subsystem modules has been verified through performance tests before and after the qualification tests. It was confirmed that the natural frequency of BEU satisfies the design stiffness requirement without structural damage in the vibration test. Thermal analysis results were also almost consistent with test results through modified thermal analysis modeling.

Analysis on Social Welfare Value of District-Unit Plan for the Designated Rural Settlement Zone in the City Limits -A Case Study of Geumdoong Village Site, Cheongju City, Korea- (지구단위계획 수립의 후생가치 분석 -청주시 검둥골 취락지구를 중심으로-)

  • Yun, Ki-Bum;Jang, Min-Chul;Hawang, Hee-Yun
    • Journal of Korean Society of Rural Planning
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    • v.18 no.3
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    • pp.25-41
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    • 2012
  • The purpose of this study is to quantitatively analyze the social welfare value given to the designated rural settlement zone by the resident-participated site unit plan that the City of Cheongju is newly attempting to draft. Firstly, the costs and benefits from the site unit planning were estimated. Secondly, through literature review especially focussed on the benefit and cost estimation, on-site questionnaire was designed, and then sample residents of the qualifying sites were asked about their willingness to pay, which could make it possible to estimate the monetary value of its benefits by the contingent valuation method (CVM). Finally, the present value of net benefits (PVNB) was estimated through the derived costs and benefits. As a result of analysis, firstly, the present value of net benefits (PVNB) was found to be 7,641 billion won, which indicated that the implementation of district-unit plan would be able to cause sufficient social welfare value for the effected residents. Secondly, in examining the result of individual average amount for willingness to pay through the CVM, the area that benefited the most was found to be the road improvement. Thirdly, as a result of sensitivity analysis, the parameter with the most effects was the discount rate, which suggested that, in carrying out public projects, excessive market interest rates would not be appropriate.