• Management & Information Systems Review
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• v.34 no.3
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• pp.17-39
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• 2015

This study examined the structural changes and volatility in the global stock markets using a Markov Regime Switching ARCH model developed by the Hamilton and Susmel (1994). Firstly, the US, Italy and Ireland showed that variance in the high volatility regime was more than five times that in the low volatility, while Korea, Russia, India, and Greece exhibited that variance in the high volatility regime was increased more than eight times that in the low. On average, a jump from regime 1 to regime 2 implied roughly three times increased in risk, while the risk during regime 3 was up to almost thirteen times than during regime 1 over the study period. And Korea, the US, India, Italy showed ARCH(1) and ARCH(2) effects, leverage and asymmetric effects. Secondly, 278 days were estimated in the persistence of low volatility regime, indicating that the mean transition probability between volatilities exhibited the highest long-term persistence in Korea. Thirdly, the coefficients appeared to be unstable structural changes and volatility for the stock markets in Chow tests during the Asian, Global and European financial crisis. In addition, 1-Step prediction error tests showed that stock markets were unstable during the Asian crisis of 1997-1998 except for Russia, and the Global crisis of 2007-2008 except for Korea and the European crisis of 2010-2011 except for Korea, the US, Russia and India. N-Step tests exhibited that most of stock markets were unstable during the Asian and Global crisis. There was little change in the Asian crisis in CUSUM tests, while stock markets were stable until the late 2000s except for some countries. Also there were stable and unstable stock markets mixed across countries in CUSUMSQ test during the crises. Fourthly, I confirmed a close relevance of the volatility between Korea and other countries in the stock markets through the likelihood ratio tests. Accordingly, I have identified the episode or events that generated the high volatility in the stock markets for the financial crisis, and for all seven stock markets the significant switch between the volatility regimes implied a considerable change in the market risk. It appeared that the high stock market volatility was related with business recession at the beginning in 1990s. By closely examining the history of political and economical events in the global countries, I found that the results of Lamoureux and Lastrapes (1990) were consistent with those of this paper, indicating there were the structural changes and volatility during the crises and specificly every high volatility regime in SWARCH-L(3,2) student t-model was accompanied by some important policy changes or financial crises in countries or other critical events in the international economy. The sophisticated nonlinear models are needed to further analysis.

• The Journal of the Convergence on Culture Technology
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• v.9 no.5
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• pp.255-262
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• 2023

In the early 20th century, Yeomjae Song Tae-hoe (念齋 宋泰會, 1872-1941), a disciple and onetime adopted son of teacher Song Su-myeon(宋修勉, 1847-1916), moved to Gochang and laid the foundation for Gochang calligraphy and painting, and it can be seen that a full-fledged flow began. Yeomjae Song Tae-hoe was a scholar and calligrapher of the late Joseon Dynasty and modern period from Hwasun, Jeollanam-do. He is a person who created the foundation of Gochang calligraphy and painting while working as an educator in Chinese literature, calligraphy, and painting, mainly in his hometown of Hwasun and Gochang, while engaging in creative activities. He was intelligent from a young age and showed an extraordinary talent for calligraphy. At the age of 16, he passed the Jinsa exam (童蒙進士) and became the youngest student to study at Sungkyunkwan. He was active by holding exhibitions nationwide based in Gochang and Jeonju, and was also an educator who fostered younger students by establishing Gochang High School (currently, Gochang Middle and High School) to cultivate national spirit and history. Yeomjae drew strong and healthy landscape paintings under the absolute influence of the painting style of Saho Song Su-myeon, and dealt with various materials of southern school literati paintings such as flowers and birds and four plants. In particular, he is a representative calligrapher who encompasses the early modern era and the modern era in that he expressed his interest in new cultural artifacts as well as the realization of a modern-oriented realistic landscape based on Korean natural beauty. He laid the foundation for modern and contemporary calligraphy and painting. Goam Lee Eung-no (顧菴 李應魯, 1904-1989), a world-renowned painter, learned the basics of ink painting from Yeomjae in his late teens.However, compared to his various artistic and social activities, it is regrettable that he is limited and evaluated as a local writer.

• The Journal of the Convergence on Culture Technology
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• v.9 no.6
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• pp.479-486
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• 2023

This study is a descriptive research study to determine differences in conflict management types according to MBTI preference indicators among nursing students. Data collection was from August 30 to September 30, 2023. Data analysis was performed using independent t-test, one-way ANOVA, and Scheffe's. As a result of the study, among the MBTI indicators showing significant differences in conflict management types, 'i' had higher avoidance than 'E' in the energy direction (t=-3.776, <0.01). In the case of decision-making function, F had higher concession (t=-3.478, <0.01) and avoidance (t=-3.389, <0.01) than T, and T had higher dominance than F (t=2.070, <0.5). In terms of external life coping style, J had higher cooperation (t=2.756, <0.01) and compromise (t=2.044, <0.5) than P. In MBTI's psychological function types, the NF type had higher concessions than the ST type (F=4.174, <0.05), and the SF type had higher avoidance than the ST type (F=4.202, <0.05). The results of analyzing the differences in conflict management types by combining the MBTI decision-making function type and external life coping style showed that the FJ type was more cooperative than the FP type (F=2.907, <0.05), and the FJ type was more cooperative than the TP type (F =4.662, <0.01), and the FJ type had higher avoidance than the TJ type (F=3.327, <0.05). MBTI's attitude index showed that the EJ type had higher cooperation than the EP type (F=2.817, <0.05), and the IP type had significantly higher avoidance than the EP type (F=4.551, <0.01). This study is significant in confirming differences in conflict management types by combining MBTI decision-making function types (F, T) and external life coping styles (J, P), which have not been studied in Korea to date. In the follow-up study, we propose research on conflict management types by MBTI personality type by reflecting the results of this study and expanding the number of subjects, development of conflict management programs by MBTI indicators and personality types, and analysis of program effectiveness.

• Journal of the Korean earth science society
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• v.45 no.2
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• pp.157-171
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• 2024

The purposes of this study were: (1) to revalidate the revised Systems Thinking Measuring Instrument (Re_STMI) reported by Lee et al. (2024) among Vietnamese high school students and (2) to investigate the differences in systems thinking abilities between Korean and Vietnamese high school students. To achieve this, data from 234 Vietnamese high school students who responded to translated Re_STMI consisting of 20 items and an Scale consisting of 20 items were used. Validity analysis was conducted through item response analysis (Item Reliability, Item Map, Infit and Outfit MNSQ, DIF between male and female) and exploratory factor analysis (principal axis factor analysis using Promax). Furthermore, structural equation modeling was employed with data from 475 Korean high school students to verify the latent mean analysis. The results were as follows: First, in the item response analysis of the 20 translated Re_STMI items in Vietnamese, the Item Reliability was .97, and the Infit MNSQ ranged from .67 to 1.38. The results from the Item Map and DIF analysis align with previous findings. In the exploratory factor analysis, all items were loaded onto intended sub-factors, with sub-factor reliabilities ranging from .662 to .833 and total reliability at .876. Confirmatory factor analysis for latent mean analysis between Korean and Vietnamese students yielded acceptable model fit indices (χ²/df: 2.830, CFI: .931, TLI: .918, SRMR: .043, RMSEA: .051). Lastly, the latent mean analysis between Korean and Vietnamese students revealed a small effect size in systems analysis, mental models, team learning, and shared vision factors, whereas a medium effect size was observed in personal mastery factors, with Vietnamese high school students showing significantly higher results in systems thinking. This study confirmed the reliability and validity of the Re_STMI items. Furthermore, international comparative studies on systems thinking using Re_STMI translated into Vietnamese, English, and other languages are warranted in the context of students' systems thinking analysis.