• Management & Information Systems Review
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• v.31 no.4
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• pp.287-307
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• 2012

We empirically examine the price discovery dynamics among the VKOSPI, the KOSPI200 spot, and the KOSPI200 futures markets. The analysis employs the vector-autoregression, Granger causality, impulse response function, and variance decomposition using both daily data from 2009. 04. 13 to 2011. 12. 30 and 1 minute data from the bull market, bear market, and the flat period. The main results are as follows; First, the lead lag relationships between KOSPI200 spot(futures) yield VKOSPI returns could not be found from the daily data analysis. But KOSPI200 spot(futures) have a predictive power for VKOSPI from 1 minute data. Especially KOSPI200 spot(futures) and VKOSPI show the bi-directional effects to each other during the return rising period Second, We chose the VAR(1) the model in daily data but adopt the VAR(3) model in the one minute data to determine the lead lag time. We know that there is predictability during the very short period Third, Spot returns and futures returns makes no difference in daily data results. According to the one minite data results, VKOSPI returns have a predictive power for KOSPI200 spot return, but have no predictive power for KOSPI200 futures return.

• Journal of Korea Water Resources Association
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• v.33 no.1
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• pp.15-30
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• 2000

This study is to develop the applied method of reliability analysis to present risk - initial water level relationship in the small reservoir. To determine the reliability, the grasping of uncertainty sources is prerequisited and performance function is formulated. Reliability analysis method is a statistical method and the basic procedure of risk evaluation for overtopping of reservoir is as follows. 1. Define the risk criterion and performance function for the overtopping. 2. Determine the uncertainties of all the variables in the performance function. 3. Perform the risk analysis with suitable risk calculation method. Reliability analysis method such as Monte Carlo simulation(MCS) method and mean value first order second moment(MVFOSM) method are used to calculate the risk for reservoir. Finally, risk - initial water level relationship is established according to return period and it is useful for reservoir operation and safety assessment.ssment.

• Journal of Korean Society of Forest Science
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• v.95 no.3
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• pp.268-273
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• 2006

This study analyzed the technological change of Korean sawmill industry affected by change of factor price. An aggregate cost function has been estimated to analyze the technological change in Korean sawmill industry between 1970 and 2003 to the technical bias and scale effect. There was substitution among labour, capital, and material, especially in more elastic relation between labour and capital. In addition, domestic sawmill industry was progressed into structure which is biased to labour saving, and capital and material using because of increase of labour price. Since Korean sawmill industry's technology still exhibits an increasing returns to the scale, the large amount of investment has contributed to productivity growth, and the future productivity growth continually depend on the scale effect for some time.

• Journal of the Earthquake Engineering Society of Korea
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• v.8 no.6 s.40
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• pp.31-43
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• 2004

Seismic risk assessment of bridge is presented using fragility curves which represent the probability of damage of a structure virsus the peak ground acceleration. In theseismic fragility analysis, the structural damage is defined using the rotational ductility at the base of the bridge pier, which is obtained through nonlinear dynamic analysis for various input earthquakes. For the assessment of seismic risk of bridge, peak ground accelerations are obatined for various return periods from the seismic hazard map of Korea, which enables to calculate the probability density function of peak ground acceleration. Combining the probability density function of peak ground acceleration and the seismic fragility analysis, seismic risk assessment is performed. In this study, seismic fragility analysis is developed as a function of not the surface motion which the bridge actually suffers, but the rock outcrop motion which the aseismic design code is defined on, so that further analysis for the seismic hazard assessment may become available. Besides, the effects of the friction pot bearings and the friction pendulum bearings on the seismic fragility and risk analysis are examined. Lastly, three regions in Korea are considered and compared in the seismic risk assessment.

• Journal of the Korean Data and Information Science Society
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• v.25 no.3
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• pp.513-522
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• 2014

Using the assumption that the price of a stock follows a geometric Brownian motion with constant volatility, Black and Scholes (BS) derived a formula that gives the price of a European call option on the stock as a function of the stock price, the strike price, the time to maturity, the risk-free interest rate, the dividend rate paid by the stock, and the volatility of the stock's return. However, implied volatilities of BS method tend to depend on the stock prices and the time to maturity in practice. To address this shortcoming, we estimate the implied volatility function as a function of the strike priceand the time to maturity for data consisting of the daily prices for KOSPI200 call options from January 2007 to May 2009 using support vector regression (SVR), the multiple additive regression trees (MART) algorithm, and ordinary least squaress (OLS) regression. In conclusion, use of MART or SVR in the BS pricing model reduced both RMSE and MAE, compared to the OLS-based BS pricing model.

• PNF and Movement
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• v.20 no.1
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• pp.91-101
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• 2022

Purpose: The purpose of this study was to examine the effect of cycle ergometer exercise inducing movement of the affected side on knee joint function after total knee arthroplasty (TKA). Methods: The primary experiment was conducted on 19 members of the cycle ergometer exercise group to measure the muscle activity of the rectus femoris, hamstring, tibialis anterior, and gastrocnemius muscles during cycle ergometer exercise that induced the affected side's movement. In the second experiment, after receiving physiotherapeutic intervention for 30 min, the general bicycle exercise group and cycle ergometer exercise group performed the corresponding exercise for 15 min, 5 times per week, for 2 weeks. The ROM, muscle strength, pain, and balance were then measured and compared between the two groups. Results: In the results of the primary experiment, cycle ergometer exercise inducing movement of the affected side showed a significantly larger increase in the activity of leg muscles (rectusfemoris, hamstring, tibialis anterior, gastrocnemius) on the affected side than the general bicycle exercise (p <0.05). In the second experiment, the cycle ergometer exercise group showed a significantly larger increase in range of movement of affected side knee flexion and muscle strength of affected side knee flexion, knee extension, and plantarflexion than the general bicycle exercise (p <0.05). No significant between-group difference was observed in pain and balance before or after the intervention (p >0.05). Conclusion: Cycle ergometer exercise inducing movement of the affected side increases use of the muscles around the affected side knee joint after TKA more than general bicycle exercise and produces better effects for enhancing muscle strength. The application of cycle ergometer exercise inducing movement of the affected side is expected to reduce the patients' unbalanced use during the early postoperative period and help them to quickly return to normal daily life through rapid muscle strength recovery.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.18 no.7
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• pp.63-72
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• 2017

This paper proposes a procedure to improve the operational efficiency of the automotive parts manufacturing process by applying classical IE techniques composed of process analysis, work method analysis, and motion analysis, and a specific application case is outlined. The proposed procedure was developed originally by the Task Force organized in L company's automotive parts manufacturing business unit. The balance efficiency and production capacity were used as measures of operational efficiency. The developed procedure follows the general procedure of analyzing the phenomenon at the manufacturing shop, deriving an improvement solution to solve the problem, evaluating each derived alternative, and implementing it to the field to achieve productivity improvement. Among the methods used in each phase of the procedure, function analysis used in the waste discovery phase and R&R evaluation method used in the alternative assessment phase are unique techniques developed by L company's TF. The R&R Evaluation method techniques are described in detail because this method is highly applicable and extensible. A case of applying developed procedures to improve the EPS motor manufacturing process is discussed. As a result, the line balance efficiency and production capacity were increased to a satisfactory level.

• Journal of Korea Technology Innovation Society
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• v.10 no.1
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• pp.47-72
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• 2007

Ideas do not become exhausted, and there are no diminishing returns in the creation of knowledge. Nonetheless, growth ultimately ceases in this simplest model of endogeneous innovation. The reasons are similar to those that are discussed in the context of the neoclassical model of capital accumulation. Even if the resource cost of creating new goods does not rise, the economic return to invention may decline as the number of available products increases. When the rate of return to R&D falls to the level of the discount rate, private agents cease to be willing to defer consumption in order to invest in product development. But, if we treat knowledge capital as a public capital considering of its non-appropriable benefits, economic growth can be sustained in the economy. Romer(1986) has pointed out that growth might be sustainable if the accumulation of knowledge is not subject to long-run diminishing returns. Actually Romer assumed diminishing returns in the production of private knowledge from available resources, but increasing returns in the production of output from labor and total (public and private) knowledge. His condition for the sustainability of long-run growth amounts to an assumption that the diminishing returns in the former activity do not outweigh the increasing returns in the latter. The Johansen(1988) cointegration test method is used for finding long-run equilibrium relationship between R&D input and the product innovation. Test results indicate the existence of cointegrating equation between each pair of regression variables including dependent variable in the knowledge production function. And, the signs of cointegrating vectors are well accord to the prediction of sustainable growth. In the empirical analysis, from all cases of the form for the knowledge production function, we could not reject the null hypothesis that R&D spillover effect is significant($H_{0}:\;{\gamma}=1$). In summary, we showed that considering goodness of fit of regression model, we can see that the empirical evidence is strongly in favor of the character of knowledge as the public knowledge capital. So, we can expect that by product innovation, economic growth can be sustained in the Korean economy.

• The Journal of Dong Guk Oriental Medicine
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• v.1
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• pp.55-80
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• 1992

In order to examine that the effect of Sam Hwa San, circulating the vital energy of Sam Cho and controlling body fluid metabolism, gives any influence on renal function, changes in the urine flow, eletrolytes excretion, plasma aldosterone concentration and renin activity were observed after intravenous infusion of the Sam Hwa San extract in rabbit. Also in vitro effect of the herb extract on oxygen consumption in renal cortical slices and ATPase activity in kidney microsomes was measured. The following results were obtained : 1. The urine flow was markedly increased at 10 min after intravenous infusion of the Sam Hwa San extract($0.134{\pm}0.015$ vs. $0.433{\pm}0.046ml/min.kg$), but return ed to normal value after 40 min of infusion. 2. The glomerular filtration rate was significantly increased at 10 min after in travenous infusion of the Sam Hwa San extract, and the renal plasma flow at 10 and 20 min after infusion of the Sam Hwa San extract, following return to normal value. 3. $Na^+$ excretion was significantly increased during 10-40 min after intravenous infusion of the Sam Hwa San extract, although showed the maximal rate at 10-20 min. The fractional $Na^+$ excretion was also increased during 10-40 min. $K^+$ excretion was rapidly increased at 10 min after the intravenous Infusion of the Sam Hwa San extract and then gradually decreased to normal level at 40 min. The fractional $K^+$ excretion was significantly increased during 10-40 min after the intravenous infusion of the Sam Hwa San extract. 4. The plasma aldosterone concentration and renin activity were not altered by the infusion of the Sam Hwa San extract. 5. The ouabain-sensitive oxygen consumption of renal cortical slices was significantly reduced by the Sam Hwa San extract(0.5 and 1.0 vol.%). 6. The Na-K-ATPase activity of renal microsomes was strongly inhibited by the Sam Hwa San extract(0.5 and 1.0 vol.%). These results suggest that the Sam Hwa San causes a strong diuretic effect which results from reduction of Na reabsorption in renal tubule by a direct inhibition of Na-pump and, in part, from all increase in renal blood flow. In clinic, it is considered to obtain the therapeutic effect in body fluid metabolism disharmony to cause the circular disorder of vital energy.

• Korean Journal of Agricultural Science
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• v.27 no.2
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• pp.158-175
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• 2000

Up to date, the economic feasibility analysis on land consolidation and on-farm development projects were mainly depended upon the direct benefits from market value of project outputs. Therefore the projects were neglected in allocation of the government's financial funds and loans on account of undervaluation of the project benefits including socio-economic and environmental values of the projects. Accordingly the Extended Benefit Cost Analysis Method should be adapted to cover not only the benefits such as non-market values of environmental functions of the projects and but also the economic market values of the project outputs. The main objectives of this study is (1) to provision of the guideline for economic feasibility analysis based on the IBRD and ADB guidelines, (2) to estimate the benefits such as Productivity increase effect, labor saving effect, off-farm income increase effect during off-farm season, saving of O&M cost of farm mechanization, enhance of farmer's public health, increase of environmental public function of paddy fields, effect of food security and establishment of peaceful and uncontroversial rural society by implementing the land consolidation and on-farm development, (3) to introduce the newly adapted analytical method as the extended benefit cost analysis which could make possible the analysis of non-market goods such as the food security value and the environmental public value of paddy fields. To carry out the study, the publication on the guideline for economic analysis of agricultural projects were reviewed and consulted and for the post evaluation of the land consolidation and on-farm development project, field survey in Jeongja area were made for the feasibility study of the project by new method. According to the initial project plan, Jeongja land consolidation and on-farm development project has 96ha of benefit area and the project was started in 1989 and completed in the spring, 1990. The total project costs were amounted to 1,052 million won and the annual project benefits were estimated at 135.4 million in 1989 constant market prices. On the other hand, the newly estimated project benefits as a part of post evaluation of the project were amounted to 602.1 million won including all the benefits from the market and non-market commodities of the project as mentioned above column. The original IRP(Internal rate of return) of the project was estimated at 15.81%. On the other hand, the IRR of the post evaluation of the project was amounted to 16.83%. In case of including the benefit from the environment public function of paddy field, the SRR(Social Rate of Return) was reached to 38.81% and when we added the benefit from food security of the project, the SRR showed very high rate as 46.41%. In conclusion, the project were verified socio-economically feasible and environmentally sustainable considering the above decision making criteria.