• Asia-Pacific Journal of Business
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• v.15 no.3
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• pp.385-397
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• 2024

Purpose - The purpose of this study was to analyze the dynamic relationship between oil prices and macroeconomic variables (gross domestic product, consumer price index, and interest rate). Long-run and short-run effects of oil prices on these macroeconomic variables are examined. Design/methodology/approach - The vector error correction model (VECM) is used to examine the short-run and long-term causality of oil prices, and a hierarchical Bayesian vector autoregressive model (HBVAR) is used to find the impulse of oil shock and the response of other variables. Findings - First, oil prices do not have short-term causality with macroeconomic variables, but they have long-term causality with interest rates and GDP. Second, the long-term stable relationship of oil prices and other macroeconomic variables is important to find out causality. Third, oil shock increases interest rates and decreases GDP and consumer price. Research implications or Originality - The significance of this study is a new attempt to analyze the dynamic relationship between oil prices and macroeconomic variables by linking VECM and HBVAR. Although VECM can analyze the long-term relationship and short-term dynamics between oil prices and macroeconomic variables, it was difficult to identify the transmission path of the oil price shock. HBVAR is confirmed to be flexible because it can bypass the process of selecting VAR or VECM through unit root test and cointegration analysis, and it is expected to reduce uncertainty of selecting hyperparameters.

• The Journal of Korean Medicine
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• v.21 no.3
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• pp.199-208
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• 2000

Objectives : In order to investigate the toxicity of rats after oral administration of Eumcheonyijin-tang extract. Methods : The experimental animals were subdivided into control, short term administration group, and long term administration group. With changes of gross appearance, the histological changes of liver and kidney were observed. Blood chemical indexes used in this study were AST, ALT, total bilirubin, albumin, BUN and creatinine in serum. Results : In the long term administration group, histological changes were detected in the liver as centrolobular disposition of fatty tissue(adipose cell), and in serum test, AST, ALT increased at 21 days after administration group, serum total bilirubin were increased 21, 28 and 35 days after administration group. So it seems to induce toxicity. Kidneys of the long term administration group revealed histological changes : increasing of connective tissue and pyknosis of glomerulus cell were observed at 28 days after administration group, and in serum test, significant changes of albumin, BUN, and creatinine were admitted. So it seems to induce toxicity. Conclusions : In long term administration of Eumcheonyijin-tang toxicity was induced.

• New & Renewable Energy
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• v.4 no.4
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• pp.23-29
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• 2008

Wind farm development project contains high business risks because that a wind farm, which is to be operating for 20 years, has to be designed and assessed only relying on a year or little more in-situ wind data. Accordingly, long-term correction of short-term measurement data is one of most important process in wind resource assessment for project feasibility investigation. This paper shows comparison of general Measure-Correlate-Prediction models and neural network, and presents new method using neural network for increasing prediction accuracy by accommodating multiple reference data. The proposed method would be interim step to complete long-term correction methodology for Korea, complicated Monsoon country where seasonal and diurnal variation of local meteorology is very wide.

• Journal of the Korean Operations Research and Management Science Society
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• v.4 no.1
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• pp.33-39
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• 1979

The cash management problem as a part of working capital management has been extensively studied. By and large the articles surveyed lacked consideration of long-term assets and the proper tax treatment of them. Recognizing that investment activities - long-term as well as short-term generate cash inflows, leads one to conclude that these investments should be included in the cash management problem. The liquidity of long term investments is an integral part of the cash management problem. This paper formulated a cash management model which incorporate the effect of long term investments and their liquidity on cash holdings. Although all of the models formulated could be solved using mathematical programing techniques, the mere size of the problem in terms of the number of variables and constraints leads one to seek other methods. For this reason rules were developed using the Kuhn-Tucker conditions thereby substaintially avoiding the programming calculations or at least easing them significantly.

• The Korean Journal of Applied Statistics
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• v.26 no.5
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• pp.725-736
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• 2013

Retirement income is an important personal and social issue. Problems associated with financial risk wil1 become more pronounced with the growth in the elderly population. Medical expenses in senescence is closely related to financial risk; in addition, some diseases that require long term care will increase financial risk which result in lower quality of life for the elderly. Therefore, it is necessary to understand expected long-term care costs and to manage financial risk from the perspective of an individual. This study evaluate the length of period in which a person is expected to need long term care and actuarial present values of the total cost which needs to be prepared for the care through the Korean public long term care system based on the experience data obtained from Long Term Care Insurance for the Elderly in Korea and a multi-state model.

• Health Policy and Management
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• v.12 no.1
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• pp.21-53
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• 2002

The purpose of this study is to measure the resource use of the elderly in long-term care services and to examine the effects of patient and facility characteristics on their use of resources. The data were collected from 510 old people over sixty years of age, residing in five long-term care hospitals and two skilled nursing homes during the period between December 1, 2000 and February 28, 2001. For a full sample, when the first level of RUG(Resource Use Group)-III categories were employed as the proxy of patient severity, facility characteristics, such as location, size and ownership, have large effects on the resource use measured by service intensity, whereas patient characteristics such as severity have little or no effect. The resource use is significantly high if the facility: (1) is located in rural areas (gun): (2) has mare than 200 beds; (3) is a long-term care hospital; (4) is private; and (5) has a low percentage of medical aid patients. The analysis of the resource use in each RUG-III categories, for which ADL(Ability of Daily Living) were employed as the prosy of patient severity, shows a similar result. The loose relationship between the needs of residents and the resource use seems to be closely associated with the ineffective reimbursement system for providers. The current reimbursement system has no provision for quality improvement and reimburses facilities simply according to their types: fee-for-service for long-term care hospitals, and monthly-flat-rate or full-coverage-national-aid for skilled nursing facilities. It will be necessary to develop a more reasonable reimbursement system that takes patient's severity into account and gives incentives for long-term care providers to offer cost-effective services.

• The Korean Journal of Health Service Management
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• v.2 no.1
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• pp.125-136
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• 2008

Government came to enforce long-term care insurance system in preparation for the rapid aging society. Whether this system is successful or not depends on the professionalism of long-term care-givers who are professional population in charge of care service. Currently in the early stage of enforcement, such problems as a race cutting fee resulted from numerical increase of educational facilities, insolvent operation, degradation of education level resulted from unprofessional instructor, are pointed out. As a mean of manpower-training on long-term care insurance system, this study is to research public-private-university network model of the Academy of Continuing Education attached to Ko Sin University which is the case of Yong Do Gu Busan city. Networking between the vision and development strategy of Yong Do Gu on continuing education city, education system on community manpower-training supported by Ko Sin University, and service field of welfare for the elderly can not only contribute to the professionalism of long-term care-givers but also play an ideal role in manpower-utilization and arrangement of community. Through this networking, high quality of education level and circumstance, using the existing infra, manpower-training and utilization for continuing education of Yong Do Gu can be accomplished. Additionally, the connection with facilities related with welfare for the elderly can contribute to professionalism and accountability of manpower-networking.

• The Journal of the Korea Contents Association
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• v.17 no.6
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• pp.591-599
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• 2017

With the introduction of long-term care insurance, the number of long-term care facilities and the elderly using it is increasing. Nevertheless, there was a lack of concern and research on elderly abuse and how to affect the life of the elderly in long-term care facilities. The study analyzed the data collected from 278 senior citizens of 44 long-term care facilities in two regions. The analysis was conducted to analyze the relationship among elderly abuse, service quality, service satisfaction and life satisfaction. An analysis showed that some of the elderly experienced elderly abuse, especially sexual abuse. The experience of abuse affect the perception of the service quality, service satisfaction and life satisfaction of the elderly. The elderly experienced abuse was undervalued in service quality, service satisfaction and life satisfaction. Based on these findings, the implications to prevent elderly abuse of long-term care facilities are suggested.

• Research in Community and Public Health Nursing
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• v.19 no.2
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• pp.260-269
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• 2008

Purpose: The purpose of this study was to identify differences in health status and the utilization of long-term care service between urban and rural aged residents in Korea. Methods: Through convenience sampling, 1,405 elders (829 from urban areas and 576 from rural areas) were selected during March 1 to May 31 in 2004. All the subjects agreed to participate and filled out the survey questionnaire after signing the consent form. The instruments utilized in this study were the impairment of physio-sensory function, ADL IADL, cognitive function, and psycho-social function scale. This instrument was developed by modifying the scab developed by Gurland & Wilder (1984). Data was analyzed using the SPSS Win program. Results: There were significant differences in economic status, duration of living and type of medical insurance between rural and urban elderly(p<.05). Physio-sensory functions (t=4.53. p<.001), ADL (t=3.61. p<.001), IADL (t=2.45, p=.014), cognitive functions (t=-2.63. p=.024) and psycho-social functions (t=3.69. p<.001) were significantly different between the two groups. The utilization of long-term care facility in the urban elderly was significantly higher than that in the rural elderly ($x^2=10.14$, p<.001). Conclusion: Considering these findings. the need for long-term care should be assessed by residence characteristics. Because of different utilization of long term care facility according to the elderly's needs, long-term care services should be considered the residence characteristics.

• Korea Journal of Hospital Management
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• v.18 no.1
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• pp.42-58
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• 2013

The purpose of this study was to investigate the awareness of long-term care hospitals on pay for performance(P4P) program in Korea. We conducted a cross-sectional, self-administered, the internet based survey from September to October in 2010. The questionnaire was consisted of the levels of awareness and agreement about the program, their preferred design and its possible effects and unintended consequences etc. Among 837 eligible long-term care hospitals in Korea, 114 hospitals(13.6%) were participated in the survey. About one-thirds of long-term care hospitals were not aware of P4P, namely it is important to heighten an awareness of P4P. There were pros and cons on introduction of P4P in Korea. The two major reasons of objections of P4P were the concerns of unintended consequences and the possibility of strengthening government control by implementing P4P. In conclusion, to successfully implement P4P to long-term care hospitals, the Health Insurance Review & Assessment Service(HIRA) in Korea should obtain the long-term care hospitals'opinion as to implementation of P4P.