• The Korean Journal of Applied Statistics
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• v.31 no.3
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• pp.367-382
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• 2018

Prediction models for a corporate bond rating in existing studies have been developed using various models such as linear regression, ordered logit, and random forest. Financial characteristics help build prediction models that are expected to be contained in the assigning model of the bond rating agencies. However, the ranges of bond ratings in existing studies vary from 5 to 20 and the prediction models were developed with samples in which the target companies and the observation periods are different. Thus, a simple comparison of the prediction accuracies in each study cannot determine the best prediction model. In order to conduct a fair comparison, this study has collected corporate bond ratings and financial characteristics from 2013 to 2017 and applied prediction models to them. In addition, we applied the elastic-net penalty for the linear regression, the ordered logit, and the ordered probit. Our comparison shows that data-driven variable selection using the elastic-net improves prediction accuracy in each corresponding model, and that the random forest is the most appropriate model in terms of prediction accuracy, which obtains 69.6% accuracy of the exact rating prediction on average from the 5-fold cross validation.

• Journal of the Korean Data and Information Science Society
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• v.15 no.2
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• pp.339-345
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• 2004

This paper deals with a mixed logit model for ordered polytomous data. There are two types of factors affecting the response varable in this paper. One is a fixed factor with finite quantitative levels and the other is a random factor coming from an experimental structure such as a randomized complete block design. It is discussed how to set up the model for analyzing ordered polytomous data and illustrated how to estimate the paramers in the given model.

• International Journal of Highway Engineering
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• v.16 no.5
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• pp.83-90
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• 2014

PURPOSES : The purpose of this study is to identify the factors affecting the effectiveness of speed limit change that is defined as the amount of increased travel speed. METHODS : A ordered logit model was adopted to analyze the relationship between the change in travel speed and contributing factors. A stretch of Kyungbu freeway was selected for the analysis because the Korea expressway corporation has raised speed limit from 100km/h to 110km/h since September 1st in 2010. RESULTS : The results showed that geometric design elements, speeding cameras, and section length were identified as factors contributing the effectiveness. Contributing geometric design elements include the number of horizontal curves and vertical curves that do not meet the design requirement with 110km/h speed limit. CONCLUSIONS : The outcome of this study will be used for establishing various traffic operations and control strategies for freeway speed management.

• Journal of the Korean housing association
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• v.26 no.5
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• pp.133-141
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• 2015

As an empirical study on Daegu Downtown showing decentralization phenomenon, the purpose of this study is, based on the residential satisfaction research targeting the Downtown residents, to analyze the residential environment satisfaction and residential preference. Considering the parameters of measurement, we used the Ordered Logit Model and Logistic Regression. The results are as follows: First, the comprehensive residential environment satisfaction is relatively lower than that in 2008 and the residential preference in Downtown is similar to that of the past. Second, among the 7 factors that constitute the Downtown residential environment, the house, the landscape, and the security have a relatively large influence on the comprehensive residential environment satisfaction. Third, the residential environment factors which affect those who are hoping continuous Downtown residence are the safety, the house and the complex.

• Korean Journal of Organic Agriculture
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• v.16 no.3
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• pp.275-286
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• 2008

This paper examines the impact of reliability on consumers' demand for environmentally friendly agricultural products using ordered logit model. We survey 100 housewives living in the capital region and five metropolitian cities cross sectional data in 2007. This paper especially estimates the impact of instrumental factor, such as history tracking system, provision of information, safety assurance and labelling of brands on the consumers' demand. The main results show that provision of information and safety assurance affect consumers' demand more confident than others. In order to motivate consumers to buy more environmentally friendly agricultural products, the safety should be assured and more information on production and marketing channel should be labelled.

• Health Policy and Management
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• v.29 no.3
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• pp.332-341
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• 2019

Background: This study analyzes the effects of the individual's health behavior on the health and the medical demand for the management of health and medical expenses. Methods: This study uses the Korea Health Panel Survey data from 2010 to 2015. We utilize the panel ordered logit model and the panel Tobit model with the subjective health status and the medical expenses as the dependent variables. Results: Chronic diseases would cause the deterioration of his or her health and the increase in medical expenses. Smoking and drinking alcohol would deteriorate one's health. The total amount of cigarettes increases medical expenses. Exercises could make people healthier, whereas excessive exercise might increase medical expenses. Private health insurance would increase medical expenses. Conclusion: Since health could reduce the medical expenses, people should promote one's health by changing one's behavior for health.

• Journal of Climate Change Research
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• v.9 no.3
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• pp.283-291
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• 2018

The purpose of this study is to analyze the effects of useof weather and climate information on farmer income. To accomplish the objective of the study a farm survey was conducted, whose target respondents were local correspondents and reporters of the Korea Rural Economic Institute. The ordered logit model was employed for empirical analysis on determining whether use of weather and climate information affects farmer income. The analysis results show that the greater is farmer use of short-range weather forecasts, the higher is the income. The results also show higher farmers income with use of short-range special weather forecasts. Based upon the empirical results, the dissemination of more precise weather and climate information is suggested to increase farmer income.

• Journal of Agricultural Extension & Community Development
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• v.29 no.2
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• pp.99-110
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• 2022

This study aims to examine the characteristics of farming settlement in young farmers. In order to analyze the effect of each characteristic on young farmers' intention for settling into farming, an ordered logit model was employed. As for the individual characteristics affecting their intention for settling into farming, age and the highest education level showed a positive effect, while family-run farming had a negative effect, which was found statistically significant. For the financial characteristics, farm income had a statistically significant positive effect. On the other hand, the social and policy characteristics did not show any statistically significant effect.

• Journal of Korea Technology Innovation Society
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• v.10 no.1
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• pp.164-181
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• 2007

This paper empirically analyzes determinants of DTV (Digital Television) adoption in household survey data with IT-related household demand characteristics. To this purpose, we conducted a survey for the adoption of DTV to 1,000 households nationwide. In the questionnaire, various questions asking socio-economics characteristics such as age, education, income were included. Also, status of adoption and usage of IT services such as paid broadcasting, internet, and DVD were asked. To analyze the determinants of intention of purchasing, decision of purchasing, and the timing of purchasing DTV, we adopted the ordered logit, binary logit and multinomial legit models. When there is an order among groups, ordered logit was employed and when there is no orders among groups, multinomial logit was emplyed for the estimation. It is found that when conditions of other explanatory variable are constant, the more educated household heads are, the more probable they become early adopters of DTV. It is also found that other conditions being constant, the income level of households and IT-related household demand characteristics are very important factors affecting DTV adoption. Since the likelihood of purchasing DTV is much higher for those who know the government policy of analog broadcasting termination schedule than others who do not know, dissemination of the Korean government's digital broadcasting policy will affect significantly the adoption of DTV. And policy with various incentives ought to be employed to accelerate DTV adoption, because households with the older TV sets are more likely to purchase DTV. It is suggested that the Korean government should develop policy to connect both DBS (Direct Broadcast Satellite) and DTV since DBS subscribers are more likely to be an early adopter than non-subscribers.

• Journal of the Korean Society of Safety
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• v.33 no.3
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• pp.71-76
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• 2018

The purpose of this study is to analyze the factors affecting the roundabout accidents near schools. This study gives particular attentions discussing characteristics by pedestrian accident severity using the ordered logit models. In pursuing the above, 63 roundabouts installed before 2014 are surveyed for modeling. the traffic accident data from 2014 to 2016 are collected from TAAS data set of Road Traffic Authority. Such 35variables explaining the accidents as environment, human, geometries, school and roundabout factor are selected from literature reviews. The main results are as follows. First, the ordered logit models (${\rho}^2$ of 0.272, $x^2$ of 24.723) which is statistically significant have been developed. Second, environment factor variable is analyzed to be day or night ($X_1$ ), human factor variables are evaluated to be driver gender($X_4$), older driver($X_5$), pedestrian gender($X_7$) and children pedestrian($X_8$ ). Third, geometries factor variable are analyzed to be speed limit sign($X_{16}$) and median barrier($X_{21}$), school factor variables are evaluated to be hump-type crosswalk($X_{25}$), CCTV($X_{26}$) and school zone sign($X_{27}$), roundabout factor are analyzed to be roundabout sign($X_{30}$) and number of circulatory roadway lane($X_{32}$). Finally, this study could give some implications to decreasing the accidents severity at roundabout near schools.