• Title/Summary/Keyword: Place Based

Search Result 4,123, Processing Time 0.034 seconds

Why A Multimedia Approach to English Education\ulcorner

  • Keem, Sung-uk
    • Proceedings of the KSPS conference
    • /
    • 1997.07a
    • /
    • pp.176-178
    • /
    • 1997
  • To make a long story short I made up my mind to experiment with a multimedia approach to my classroom presentations two years ago because my ways of giving instructions bored the pants off me as well as my students. My favorite ways used to be sometimes referred to as classical or traditional ones, heavily dependent on the three elements: teacher's mouth, books, and chalk. Some call it the 'MBC method'. To top it off, I tried audio-visuals such as tape recorders, cassette players, VTR, pictures, and you name it, that could help improve my teaching method. And yet I have been unhappy about the results by a trial and error approach. I was determined to look for a better way that would ensure my satisfaction in the first place. What really turned me on was a multimedia CD ROM title, ELLIS (English Language Learning Instructional Systems) developed by Dr. Frank Otto. This is an integrated system of learning English based on advanced computer technology. Inspired by the utility and potential of such a multimedia system for regular classroom or lab instructions, I designed a simple but practical multimedia language learning laboratory in 1994 for the first time in Korea(perhaps for the first time in the world). It was high time that the conventional type of language laboratory(audio-passive) at Hahnnam be replaced because of wear and tear. Prior to this development, in 1991, I put a first CALL(Computer Assisted Language Learning) laboratory equipped with 35 personal computers(286), where students were encouraged to practise English typing, word processing and study English grammar, English vocabulary, and English composition. The first multimedia language learning laboratory was composed of 1) a multimedia personal computer(486DX2 then, now 586), 2) VGA multipliers that enable simultaneous viewing of the screen at control of the instructor, 3) an amplifIer, 4) loud speakers, 5)student monitors, 6) student tables to seat three students(a monitor for two students is more realistic, though), 7) student chairs, 8) an instructor table, and 9) cables. It was augmented later with an Internet hookup. The beauty of this type of multimedia language learning laboratory is the economy of furnishing and maintaining it. There is no need of darkening the facilities, which is a must when an LCD/beam projector is preferred in the laboratory. It is headset free, which proved to make students exasperated when worn more than- twenty minutes. In the previous semester I taught three different subjects: Freshman English Lab, English Phonetics, and Listening Comprehension Intermediate. I used CD ROM titles like ELLIS, Master Pronunciation, English Tripple Play Plus, English Arcade, Living Books, Q-Steps, English Discoveries, Compton's Encyclopedia. On the other hand, I managed to put all teaching materials into PowerPoint, where letters, photo, graphic, animation, audio, and video files are orderly stored in terms of slides. It takes time for me to prepare my teaching materials via PowerPoint, but it is a wonderful tool for the sake of presentations. And it is worth trying as long as I can entertain my students in such a way. Once everything is put into the computer, I feel relaxed and a bit excited watching my students enjoy my presentations. It appears to be great fun for students because they have never experienced this type of instruction. This is how I freed myself from having to manipulate a cassette tape player, VTR, and write on the board. The student monitors in front of them seem to help them concentrate on what they see, combined with what they hear. All I have to do is to simply click a mouse to give presentations and explanations, when necessary. I use a remote mouse, which prevents me from sitting at the instructor table. Instead, I can walk around in the room and enjoy freer interactions with students. Using this instrument, I can also have my students participate in the presentation. In particular, I invite my students to manipulate the computer using the remote mouse from the student's seat not from the instructor's seat. Every student appears to be fascinated with my multimedia approach to English teaching because of its unique nature as a new teaching tool as we face the 21st century. They all agree that the multimedia way is an interesting and fascinating way of learning to satisfy their needs. Above all, it helps lighten their drudgery in the classroom. They feel other subjects taught by other teachers should be treated in the same fashion. A multimedia approach to education is impossible without the advent of hi-tech computers, of which multi functions are integrated into a unified system, i.e., a personal computer. If you have computer-phobia, make quick friends with it; the sooner, the better. It can be a wonderful assistant to you. It is the Internet that I pay close attention to in conjunction with the multimedia approach to English education. Via e-mail system, I encourage my students to write to me in English. I encourage them to enjoy chatting with people all over the world. I also encourage them to visit the sites where they offer study courses in English conversation, vocabulary, idiomatic expressions, reading, and writing. I help them search any subject they want to via World Wide Web. Some day in the near future it will be the hub of learning for everybody. It will eventually free students from books, teachers, libraries, classrooms, and boredom. I will keep exploring better ways to give satisfying instructions to my students who deserve my entertainment.

  • PDF

A study on knowledge, self-efficacy and compliance in Reumatic arthritis Patients (류마티스 관절염 환자의 지식, 자기효능감 및 치료이행과의 관계연구)

  • Kim, Soon-Bong
    • Journal of muscle and joint health
    • /
    • v.5 no.2
    • /
    • pp.238-252
    • /
    • 1998
  • Reumatic arthritis is a disease with joint pain being one of the key symptoms. The patient suffers from the pain, stiff sensation and edema due to the inflammation taking Place In one or more joints. Accompanying these problems are fatigue, unusual exhaustion, fever, tachycardia and weakness. Inaddition, joints are often deformed and muscles shrink along with the progress of edema, coupled with depression and psychological instability resulting from the loss of the mobile function and limitations on the daily life. Some patients become fed up with the long and hard flight with the disease and just give up, which aggravates the symptoms. Others come to the hospital only when the conditions have become serious. We need to prevent these and guide the patients in the right direction. Against this backdrop, this study aims to look into the relations between the knowledge on the part of the patients together with their feeling of self-efficacy and the compliance. The results are expected to help the patients improve their life, In addition to providing useful materials for setting up appropriate plan for nursing intervention. The study was conducted by distributing questionnaire to 88 patients selected from the out-patient department of a university hospital in Inchon, from April 6 to 27, 1998. The following tools were used the yardstick of self-efficacy, developed in 1997 by the Society for the Health of Rheumatism Patients, was used for measuring the levels of knowledge and the feeling of self-efficacy. The degree of compliance was measured by the data collected from documents in addition to the results of the analysis of the interviews with the patients. The reliability of the tools was confirmed. In the analysis, the general characteristics were expressed in figures and percentages. The levels of knowledge, feeling of self-efficacy, and compliance were expressed in the average values and standard deviations. The relations among the variables following the general characteristics were analysed by the t-test and one-way ANOVA. The Pearson correction coefficient was used for the analysis of factors. Multiple-loop analysis was used to identify the variables affecting the compliance. The following are the results of this study. 1. Among the 88 patients, 18 were men and the remaining 70 were women, with a ratio 1 : 3.87. Regarding the age groups, 23 were between 50 and 59 years old, with those between 50 and 69 accounting for 51.1% of the total. High school graduates or higher amounted to 58%. Religious patients was 67% or 59 persons. Fifty nine percent were unemployed, and 58.3% (49 persons) had two children or fewer. The period of suffering from rheumatism varied between 2 months and IS years, with 70% less than years. 2. The average figure In relation to the of knowledge was 17.63 points over 30 or 58. 76%, which means a medium level. 3. The average figure of the feeling of self-efficacy was 60.06 points. 4. The level of compliance was 3.26, which was above average. 5. The relation between the feeling of self-efficacy and compliance showed an "r" value of 0.37, which was significant. It means that the higher the feeling, the greater the compliance points. 6. The analysis of the knowledge level revealed that the difference is found only between the college graduates and junior-high graduates or lower. 7. The feeling of self-efficacy varied along with the age and education level. 8. The general characteristics of patients as discussed above did not show significant difference with the compliance. 9. Regarding the elements influencing the compliance, the number of children, period of suffering, income, age, feering of self-efficacy, knowledge, and compliance had 54% of significance. In conclusion, rheumatism victims can lead a better life if they are appropriately educated, based on efficient training program from the early days of the disease ; if they become able to manage themselves thanks to the training ; and if they are helped by a program focusing on the increase of the feeling of self-efficacy aimed at changing patient's behavior.

  • PDF

Management Strategy of Indoor Hazardous Chemicals (실내.외 통합 모델링 및 인체 위해성 평가를 통한 실내 유해화학물질의 관리 전략)

  • Shin, Yong-Seung;Lim, Hye-Sook
    • Journal of Environmental Policy
    • /
    • v.7 no.2
    • /
    • pp.67-90
    • /
    • 2008
  • The purpose of this study is to develop indoor air quality management strategies regarding indoor air pollutants while considering various factors affecting indoor pollutants concentration. The Integrated Indoor Air Quality model(IIAQ) developed by Seoul National University is used for this study. The IIAQ model is a tool that can provide an integrated view to indoor environmental pollution by simulating suggested scenarios. The results of the modeling are used to assess health risk. The concentrations that are used for the risk characterization are weighted concentrations based on the period of time in each place and existing Indoor Air Quality(IAQ) standards. The estimated concentration of toluene and formaldehyde for 10 years through the IIAQ model was 207.3 $ug/m^3$ and 36.4 $ug/m^3$ in indoors, and 55.9 $ug/m^3$ and 8.62 $ug/m^3$ in outdoors. These concentrations are lower than the existing IAQ standards. The estimated carcinogenic risk of formaldehyde is up to 1.05E-03 for the adult male group and exceeds 1E-06 for all receptor groups. This value means that cancer could affect one person out of 1000. The estimated non-carcinogenic risk of toluene was lower than 1, which means that there was no serious non- carcinogenic risk. The result of modeling shows that using low emitting indoor sources is the most effective strategy for both formaldehyde and toluene. This risk assessment suggests that the total exposure levels of existing IAQ standards may cause serious carcinogenic risk. In order to avoid uncontrolled risk, it is suggested that the current IAQ standards should be adjusted by taking into account the total amount of exposure from all exposure pathways from indoor and outdoor sources.

  • PDF

Effect of Human Follicular Fluid and Bovine Oviductal Tissue Extract on the Mouse Oocyte-Cumulus Complex (사람 난포액과 소의 수란관 조직추출액이 생쥐 난구세포에 미치는 영향)

  • 홍민정;김지수;심명선;김해권
    • Development and Reproduction
    • /
    • v.6 no.2
    • /
    • pp.97-104
    • /
    • 2002
  • In most mammals, mature oocyte-cumulus complexer(OCCs) ovulate into the oviduct where fertilization by sperm takes place. However, the complex that fail to fertilize eventually undergoes degeneration while they reside in the oviduct. Yet there is no blown mechanism how both oocyte and cumulus cells degenerate. Using human follicular fluid (hFF), bovine oviductal tissue extract (BOX) and mouse OCC, the present study aimed to find how the oviduct influence the viability of the oocyte and cumulus cells in vitro. There was no difference of oocyte maturation rate between the control and BOX-treated groups. However, there was a significant difference in the survival of cumulus cells between two groups. Cumulus cells cultured in the presence of hFF alone underwent initially expansion and then they formed monolayer in the culture dish. Even after 72 hr, they proliferated well and showed fibroblast-like morphology. Cumulus cells cultured in the presence of both hFF and BOX also expanded after 24 hr, however, after 72 hr culture, they eventually detached and degenerated. Cumulus cells cultured in the BOX alone gave a similar drastic result. When the cumulus cells cultured in the presence of BOX were stained with DAPI, their nuclei showed partial condensation and fragmentation. After detailed analysis of these cells by TUNEL assay, many nuclei of them exhibited well stained spots indicating the signs of apoptosis. Based upon these observations, it is suggested that BOX might possess a factor that leads mouse cumulus cells to undergo apoptosis in vitro.

  • PDF

Retrospect and Prospect of Medical Law 20th Anniversary (Medical Criminal Law) (의료법학 20주년 회고와 전망(의료형법 분야))

  • Ha, Tae Hoon
    • The Korean Society of Law and Medicine
    • /
    • v.20 no.3
    • /
    • pp.47-79
    • /
    • 2019
  • The Korean Society of Law and Medicine has faithfully played the role of professional academic organizations last 20 years in terms of academic activities, accumulated achievements, diversity, professionalism, and influence on academic circles. The Korean Society of Law and Medicine and the Journal of Medical Law serve as a platform for academic information and exchange of opinions on medical law. Medical law began in the midst of increasing conflicts and disputes caused by medical malpractice and the enactment and legal coercion of medical care as pressure on medical workers. It tried to find a way to coexist with each other through the encounter and convergence of medicine and law. Medical criminal law extends from traditional crimes in the realm of life and body protection to bioethics violations caused by the development of biomedical technology, corruption and economic crime in the medical field. Medical law has evolved into a comprehensive legal area dealing with legal issues raised in medical treatment, healthcare, bioethics, and life sciences technology. On the legal side, medical law is not independent legal areas. It is overlapping with traditional law areas such as civil law, administrative law, criminal law, social law, civil and criminal procedure law. However, it is now established as a convergence study in medicine, bioethics, life science, as well as in various fields of law. It has become an area where collaboration is needed with the field of law, medicine, ethics, sociology and economics. Medical criminal law has undergone a dynamic development over the last two decades. The development of medicine and medical technology provides new and innovative methods of diagnosis and treatment. The achievements and risks of revolutionary developments in biotechnology, genetic engineering and medicine coexist. While there is a dazzling achievement that mankind has hoped for: combating disease and improving health, it also creates unwanted side effects and risks to humans. There is a need to reconsider ethical and legal principles. The discovery and development of patient identity and autonomy has changed the medical doctor-patient relationship. Furthermore, it was complicated by the triangle relationship of patients, medical doctors and insurance. Legal matters are also complicated. This is why the necessity of legislation is emerging. Criminal punishment provisions are also required. The Medical Law and Biomedical Law are systematically and coherently deformed as mosaic-based legislation that takes place whenever there are social issues, citizens' needs, and medical organizations' interests, rather than sufficient enactment and revision procedures. It needs a complete overhaul, and this is possible through interdisciplinary collaboration which is the strength of The Korean Society of Law and Medicine.

A Study on the (맹사성 <강호사시가>의 짜임새)

  • Yang Hee-Chan
    • Sijohaknonchong
    • /
    • v.21
    • /
    • pp.143-164
    • /
    • 2004
  • The purpose of this study is to clarify that 'Kanghosasiga' is the Ynsijo which has general unification of the content and having general unification is based. on the using one definite frame. although 'Kanghosasiga' used different subject matters that have characteristics of four season in forming one theme. The definite frame is divided into two frames, inner frame and outer frame. Outer frame is common in four works, and it represents the place in which the speaker lives(강호), speaker (이몸), relationship between speaker and the king(군은), the condition of 'kangho' and speaker. And in this paper, the generative condition of phrases is so analyzed that the compression and the simplicity of expression are explained, and the purpose of generative phrases is so analyzed that satisfaction at life is represented. It is considered if it is possible to extended to '태평성대(the happy era)' in the social view. Inner frame is the detail structure of content of the work. Each of the first, second, third of the verses of four works have common structure. After analyzing each content, the characteristic of 'Kanghosasiga' was explained. The first of verses of 'Kanghosasiga' represent gusto of the four season. The second is constructed with 'the clause that functions as instruction' because 'speaker' that is the words that functions as index, and represents in detail gusto of the first. The third is connotative expression connected with the second. The third implies purpose that the writer try to gain private living with formal viewpoint. The structure of the inner frame of 'Kanghosasiga' shows a process; 'introducing season' $\to$ 'gusto about season' $\to$ 'enjoying with season' $\to$ 'peace in mind'. The first of verses of 'Kanghosasiga' is the clue of the second. The second is the reaction of the first. The third has character as estimation of the forepart. The structure of the outer frame can be shown if the structure of the inner frame has '감군은‘(being grateful to king's grace). ultimate purpose of the writer is to praise king's administration.

  • PDF

A Study of Urban Park Development and Management through Public-Private Partnership (민.관 파트너십 도시공원 조성 및 관리방식 연구)

  • Kim, Yong-Gook;Han, So-Young;Zoh, Kyung-Jin
    • Journal of the Korean Institute of Landscape Architecture
    • /
    • v.39 no.3
    • /
    • pp.83-97
    • /
    • 2011
  • The purpose of this study is to perform a gap analysis between public-private partnership urban parks of Korea currently in their initial stage and various foreign cases that have been established in terms of planning(formation of public-private partnership${\rightarrow}$creation of parks${\rightarrow}$operation and management of parks) and to propose improvements for each process of planning. As a result of the gap analysis on domestic and foreign public-private partnership urban parks, the future course to be followed by urban Korean parks can be summarized as follows. First, if the public-private urban parks that exist at present were led by a single or small number of partners centered on local government entities, urban parks from that point on must be created and managed based on efficient multi-sector partnerships. Since urban parks are public spaces where public benefit is more important than profit, diverse voices of public-private sectors must be reflected with a long-term perspective. Second, urban parks are not a place to be completed but a public space which continues to develop. Therefore, they must be approached with a focus on the process instead of the result. The existing concept of domestic public-private partnership is inclined to creation of urban parks. This suggests than the government had been focusing only on quantitative increase in urban parks. In order to create values as a public space for local communities, public-private partnership is also required in operation and management of urban parks. Third, public-private partnership management of urban parks can become more effective through active community participation. Participation by local communities takes long time because transition in the consciousness about values of urban parks must be presumed. Thus in Korea, non-profit organization like Seoul Green Trust should accumulate successful creation and management of small and large urban parks through public-private partnership will settle in our nation.

An Approach for Enhancing Current Korean e-Grocery Business Focusing on Delivery Service Alternatives (한국의 e-Grocery 배송서비스 대안에 관한 연구)

  • Koo, Jong-Soon;Lee, Jung-Sun;Jeon, Dong-Hwa
    • International Commerce and Information Review
    • /
    • v.13 no.3
    • /
    • pp.169-201
    • /
    • 2011
  • There was a new wave in grocery business with development of information and technology, thus a movement from traditional stores to online stores, In order to expand the scale of traditional supermarket and to satisfy the customers' needs, they provide offline and online services simultaneously. This paper is based on the previous studies which had been researched in developed countries from late 1990s to early 2000s and the purpose of this study is to introduce the idea and operation system of e-Grocery business. Moreover, we suggest the alternatives on delivery service methods in order to satisfy the customers' needs through analyzing the current condition of e-Grocers in Korea. According to the result of this study, Korean e-Grocers offer only attended home delivery services. In our opinion, Korean supermarkets have to take hybrid model which Tesco.com is using. There are some alternatives to increase the profits of Korean e-Grocers and to provide better services to their customers as follows: As an alternatives for delivery services, picking service is the easiest and cheapest way to apply for supermarkets. This is very useful for working women and also it is possible to order by smartphone recently. They can order the goods to the closest local supermarkets from working place, and then they pick them up on the way home from working off. In order to improve the quality of delivery services, to use the reception box will be the way to provide better services to the customers. The reception box is a way to protect the quality of goods such as fresh-cut product, which require the freshness through the temperature adjustment, and also to keep the safety of ordered goods through locking system Through this system, supermarkets are able to use attended or unattended services under the customers' satisfaction. However, using the reception box is expensive, so shared reception box will be an alternative. As an alternative for development of e-Grocery business, the advertisement for e-Grocery business has to be supported in order to attract potential customers in e-Grocery business. Furthermore, the main concerns of e-Grocery business such as the sanitation and safety of goods, and convenience must be guaranteed in order to keep the loyal customers and to attract new customers.

  • PDF

A PLS Path Modeling Approach on the Cause-and-Effect Relationships among BSC Critical Success Factors for IT Organizations (PLS 경로모형을 이용한 IT 조직의 BSC 성공요인간의 인과관계 분석)

  • Lee, Jung-Hoon;Shin, Taek-Soo;Lim, Jong-Ho
    • Asia pacific journal of information systems
    • /
    • v.17 no.4
    • /
    • pp.207-228
    • /
    • 2007
  • Measuring Information Technology(IT) organizations' activities have been limited to mainly measure financial indicators for a long time. However, according to the multifarious functions of Information System, a number of researches have been done for the new trends on measurement methodologies that come with financial measurement as well as new measurement methods. Especially, the researches on IT Balanced Scorecard(BSC), concept from BSC measuring IT activities have been done as well in recent years. BSC provides more advantages than only integration of non-financial measures in a performance measurement system. The core of BSC rests on the cause-and-effect relationships between measures to allow prediction of value chain performance measures to allow prediction of value chain performance measures, communication, and realization of the corporate strategy and incentive controlled actions. More recently, BSC proponents have focused on the need to tie measures together into a causal chain of performance, and to test the validity of these hypothesized effects to guide the development of strategy. Kaplan and Norton[2001] argue that one of the primary benefits of the balanced scorecard is its use in gauging the success of strategy. Norreklit[2000] insist that the cause-and-effect chain is central to the balanced scorecard. The cause-and-effect chain is also central to the IT BSC. However, prior researches on relationship between information system and enterprise strategies as well as connection between various IT performance measurement indicators are not so much studied. Ittner et al.[2003] report that 77% of all surveyed companies with an implemented BSC place no or only little interest on soundly modeled cause-and-effect relationships despite of the importance of cause-and-effect chains as an integral part of BSC. This shortcoming can be explained with one theoretical and one practical reason[Blumenberg and Hinz, 2006]. From a theoretical point of view, causalities within the BSC method and their application are only vaguely described by Kaplan and Norton. From a practical consideration, modeling corporate causalities is a complex task due to tedious data acquisition and following reliability maintenance. However, cause-and effect relationships are an essential part of BSCs because they differentiate performance measurement systems like BSCs from simple key performance indicator(KPI) lists. KPI lists present an ad-hoc collection of measures to managers but do not allow for a comprehensive view on corporate performance. Instead, performance measurement system like BSCs tries to model the relationships of the underlying value chain in cause-and-effect relationships. Therefore, to overcome the deficiencies of causal modeling in IT BSC, sound and robust causal modeling approaches are required in theory as well as in practice for offering a solution. The propose of this study is to suggest critical success factors(CSFs) and KPIs for measuring performance for IT organizations and empirically validate the casual relationships between those CSFs. For this purpose, we define four perspectives of BSC for IT organizations according to Van Grembergen's study[2000] as follows. The Future Orientation perspective represents the human and technology resources needed by IT to deliver its services. The Operational Excellence perspective represents the IT processes employed to develop and deliver the applications. The User Orientation perspective represents the user evaluation of IT. The Business Contribution perspective captures the business value of the IT investments. Each of these perspectives has to be translated into corresponding metrics and measures that assess the current situations. This study suggests 12 CSFs for IT BSC based on the previous IT BSC's studies and COBIT 4.1. These CSFs consist of 51 KPIs. We defines the cause-and-effect relationships among BSC CSFs for IT Organizations as follows. The Future Orientation perspective will have positive effects on the Operational Excellence perspective. Then the Operational Excellence perspective will have positive effects on the User Orientation perspective. Finally, the User Orientation perspective will have positive effects on the Business Contribution perspective. This research tests the validity of these hypothesized casual effects and the sub-hypothesized causal relationships. For the purpose, we used the Partial Least Squares approach to Structural Equation Modeling(or PLS Path Modeling) for analyzing multiple IT BSC CSFs. The PLS path modeling has special abilities that make it more appropriate than other techniques, such as multiple regression and LISREL, when analyzing small sample sizes. Recently the use of PLS path modeling has been gaining interests and use among IS researchers in recent years because of its ability to model latent constructs under conditions of nonormality and with small to medium sample sizes(Chin et al., 2003). The empirical results of our study using PLS path modeling show that the casual effects in IT BSC significantly exist partially in our hypotheses.

Fund Flow and Market Risk (펀드플로우와 시장위험)

  • Chung, Hyo-Youn;Park, Jong-Won
    • The Korean Journal of Financial Management
    • /
    • v.27 no.2
    • /
    • pp.169-204
    • /
    • 2010
  • This paper examines the dynamic relationship between fund flow and market risk at the aggregate level and explores whether sudden sharp changes in fund flow (fund run) can cause a systemic risk in the Korean financial markets. We use daily and weekly data and regression and VAR analysis. Main results of the paper are as follows: First, in the stock market, a concurrent and a lagged unexpected fund flows have a positive relationship with market volatility. A positive shock in fund flow predicts an increase in stock market volatility. In the bond market, an unexpected fund flow has a negative relationship with the default risk premium, but a positive relationship with the term premium. And an unexpected fund flow of the money market fund has a negative relationship with the liquidy risk, but the explanatory power is very low. Second, for examining whether changes in fund flow induce a systemic risk, we construct a spillover index based on the forecast error variance decomposition of VAR model. A spillover index represents that how much the shock in fund flow can explain the change of market risk in a market. In general, explanatory powers from spillover indexes are so fluctuant and low. In the stock market, the impact of shocks in fund flow on market risk is relatively high and persistent during the period from the end of 2007 to 2008, which is the subprime-mortgage crisis period. In bond market, since the end of 2008, the impact of shocks in fund flow spreads to default risk continually, while in the money market, such a systematic effect doesn't take place. The persistent patterns of spillover effect appearing around a certain period in the stock market and the bond market suggest that the shock to the unexpected fund flow may increase the market risk and can be a cause of systemic risk in the financial markets. However, summarizing the results of regression and VAR model analysis, and considering the very low explanatory power of spillover index analysis, we can conclude that changes in fund flow have a very limited power in explaining changes in market risk and it is not very likely to induce the systemic risk by a fund run in the Korean financial markets.

  • PDF