• Journal of the Korea Institute of Building Construction
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• v.10 no.1
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• pp.221-228
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• 2010

A construction firm's performance is largely attributable to performance in individual projects. In this regard, the awarding of an individual project has significant implications. However, project awards have received limited attention in the construction sector from amarket assessment perspective. This event study focuses on an analysis of market responses at the time of project awarding. A total of 252 samples wereselected through a rigorous sample screening processes. Performance was measured as cumulative abnormal return, which is traditionally adopted in event analysis. Research results indicated that the overall return is positive, and that the level isstatistically significant. Equity holders realized a higher return for projects awarded from the foreign countries compared to domestic projects. No relationship was observed between project size and the level of return. Other research findings and implications were discussed in detail from a management perspective.

• The Korean Journal of Applied Statistics
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• v.28 no.2
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• pp.137-149
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• 2015

Flood planning needs to recognize trends for extreme precipitation events. Especially, the r-year return level is a common measure for extreme events. In this paper, we present a nonstationary temporal model for precipitation return levels using a hierarchical Bayesian modeling. For intensity, we model annual maximum daily precipitation measured in Korea with a generalized extreme value (GEV). The temporal dependence among the return levels is incorporated to the model for GEV model parameters and a linear model with autoregressive error terms. We apply the proposed model to precipitation data collected from various stations in Korea from 1973 to 2011.

• Water for future
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• v.10 no.2
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• pp.113-124
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• 1977

Alone the southwesten coast of Korean peninsula, the extensive available arable acreages suited for forming are found in the development of tidal flats in the geographically curved bays with a motable tidal emplitude. It was found that the developments of these tidal flats cover an estimated area more than 276,000ha. In this paper, a flood control system by Pul's Storage Indication Method and Pul's Graphical Method at Return Periods-50 yrs, design rainfall-267mm per 48hrs and design flood-926c.m.s. and at 0.2meter control height above the High Water Ordinary Spring Tide Level (+11.0m) was studied. At the result, the flood demage in the reservoir at Return Periods-50 yrs and the tidal level at H.W.O.S.T.L. were satisfied to the below E.L. 11.20m (Flood Level in the reservoir). Well skilled flood control technique and management and control of draining sluice gate should be required for the disaster prevention from the flood and tide damage.

• The Korean Journal of Financial Management
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• v.26 no.4
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• pp.103-140
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• 2009

This paper investigates various channels through which liquidity can affect stock returns and examines whether behavioral explanation for liquidity risk is reasonable. First, we examine whether liquidity level (average liquidity) plays a significant role in determining asset returns. The result is consistent with the hypothesis that a stock with higher average illiquidity will have a higher expected return. Second, we focus on the argument that liquidity has a non-diversifiable systematic component. If systemic liquidity has a different impact across individual securities, a stock that is more sensitive to systematic liquidity will have a higher expected return. The results of various tests are inconsistent with each other, not completely supporting the argument. Finally, the intra-market tests in Korea support the behavioral explanation for the liquidity premium, and the effect is stronger in the liquidity level than in the liquidity beta related to systematic liquidity.

• Safety and Health at Work
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• v.3 no.2
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• pp.117-122
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• 2012

Objectives: To describe the time perspective of return to work and the factors that facilitate and hinder return to work in a group of survivors of acute coronary syndrome (ACS). Methods: Retrospective semi-structured telephone survey 2 to 3 years after hospitalization with 84 employed Dutch ACS-patients from one academic medical hospital. Results: Fifty-eight percent of patients returned to work within 3 months, whereas at least 88% returned to work once within 2 years. Two years after hospitalization, 12% of ACS patients had not returned to work at all, and 24% were working, but not at pre-ACS levels. For all ACS-patients, the most mentioned categories of facilitating factors to return to work were having no complaints and not having signs or symptoms of heart disease. Physical incapacity, co-morbidity, and mental incapacity were the top 3 categories of hindering factors against returning to work. Conclusion: Within 2 years, 36% of the patients had not returned to work at their pre-ACS levels. Disease factors, functional capacity, environmental factors, and personal factors were listed as affecting subjects' work ability level.

• Asia Pacific Journal of Business Review
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• v.1 no.1
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• pp.56-66
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• 2016

This paper analyzes the impact of CSR on the capital market in Korea. Using listed firm data, we found that the creation of a sustainability report that indirectly measures the level of CSR can bring the stock rate of return difference of the capital markets representative market index. First, when a firm that publishes a sustainability report was compared in terms of its market rate of return, it showed a return increase of about 2%. We found that higher returns were gained through the competitive advantage of related business when the firm was actively involved in social responsibility. Second, subdivided by industry, firms belonging to the capital goods industry were found to reach a rate of return higher than that of industry. These firms were noticeable in that they were mainly industries that caused environmental pollution. Third, in an additional analysis, foreign investors were given the sustainability report of financial businesses, which was interpreted as a result of industrial properties. A sustainability report is a comprehensive report on the economic, environmental, and social activities of a firm. Firms must learn that they can gain trust through publishing trustworthy reports while achieving the lasting power of growth from the stakeholders.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.12
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• pp.1-7
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• 2021

The study examines the influence of COVID-19 on the stock market returns of Saudi Arabia. The data was analyzed through event study methodology using daily price data of Tadawul All Share Index (TASI). The study examines the behavior pattern of the Saudi Arabian stock market in different phases during the event period by selecting six-event windows with a range of 10 days. The results report a negative Abnormal Return (AR) of -0.003 on the event date, while the abnormal returns reversed the next day to 0.005 positively. The result of Cumulative Abnormal Return (CAR) is negative and significant at the 1 percent level in all the six-event windows starting from the event date to day 59 after the event for the TASI index. Even though the influence of the COVID-19 pandemic decreased after 30 days of the event date, it increased during the last ten days of the event window. The stock market volatility of Saudi Arabia increased during the post-event period compared to the pre-event period with a negative mean return of -0.326 and a greater standard deviation. In a conclusion, the study found a significant influence of the COVID-19 pandemic on the stock market returns of TASI.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.5
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• pp.839-850
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• 2021

Risk-adjusted return is believed to be one of the optimal parameters to determine an optimum portfolio. A risk-adjusted return is a calculation of the profit or potential profit from an investment that takes into account the degree of risk that must be accepted to achieve it. This paper presents a new procedure in portfolio selection and utilizes these results to optimize the risk level of risk-adjusted Islamic stock portfolios. It deals with the weekly close price of active issuers listed on Jakarta Islamic Index Indonesia for a certain time interval. Overall, this paper highlights portfolio selection, which includes determining the number of stocks, grouping the issuers via technical analysis, and selecting the best risk-adjusted return of portfolios. The nominated portfolio is modeled using Quadratic Programming (QP). The result of this study shows that the portfolio built using the lowest Value at Risk (VaR) outperforms the market proxy on a risk-adjusted basis of M-squared and was chosen as the best portfolio that can be optimized using QP with a minimum risk of 2.86%. The portfolio with the lowest beta, on the other hand, will produce a minimum risk that is nearly 60% lower than the optimal risk-adjusted return portfolio. The results of QP are well verified by a heuristic optimizer of fmincon.

• Physical Therapy Korea
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• v.31 no.1
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• pp.48-54
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• 2024

Background: Promoting patients' safe return home at discharge and reducing length of stay in hospital is key for Restorative Rehabilitation Institution (RMI). Objects: This study was designed to identify the factors influencing the return to home and length of stay among various factors. Methods: A total of 120 stroke patients (76 males and 44 females) who were hospitalized in an adult inpatient unit of a RMI for more than 2 months were retrospectively analyzed for this study (multivariate logistic regression analyses, p < 0.001). As predictor variables for assessing the return to home and length of stay, demographic data (sex, age, duration between onset and admission, length of stay, caregiver after discharge, occupation after discharge, reason for discharge, and household type after discharge) were collected. Additionally, following measurements were selectively collected from patient's medical records: scores of Mini-Mental State Examination Korean version (K-MMSE), modified Barthel Index Korean version (K-MBI), Berg Balance Scale and Functional Ambulation Category were obtained at admission and discharge. Results: The K-MMSE at admission and K-MBI at discharge were found to be the predictors of return to home. Additionally, K-MBI at admission influenced the length of stay. Conclusion: This study suggests cognitive functioning at admission and the level of activities of daily living at discharge predicted the return to home and length of stay.

• Journal of Korean Society for Quality Management
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• v.47 no.1
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• pp.47-57
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• 2019

Purpose: This paper aims to investigate the concentration of fine particulate matter (PM2.5) in the Seoul area by predicting unhealthy days due to PM2.5 and comparing the regional differences. Methods: The extreme value theory is adopted to model and compare the PM2.5 concentration in each region, and each best model is selected through the goodness of fitness test. The maximum likelihood estimation technique is applied to estimate the parameters of each distribution, and the fitness of each model is measured by the mean absolute deviation. The selected model is used to estimate the number of unhealthy days (above $75{\mu}g/m^3$ PM2.5 concentrations) in each region, with which the actual number of unhealthy days are compared. In addition, the level of PM2.5 concentration in each region is analyzed by calculating the return levels for periods of 6 months, 1 year, 3 years, and 5 years. Results: The Mapo (MP) area revealed the most unhealthy days, followed by Gwanak (GW) and Yangcheon (YC). On the contrary, the number of unhealthy days was low in Seodaemun (SDM), Songpa (SP) and Gangbuk (GB) areas. The return level of PM2.5 was high in Gangnam (GN), Dongjak (DJ) and YC. It will be necessary to prepare for PM2.5 than other regions. On the contrary, Gangbuk (GB), Nowon (NW) and Seodaemun (SDM) showed relatively low return levels for PM2.5. However, in most of the regions of Seoul, PM25 is generated at a very poor level ($75{\mu}g/m^3$) every 6months period, and more than $100{\mu}g/m^3$ PM2.5 occur every 3 years period. Most areas in Seoul require more systematic management of PM2.5. Conclusion: In this paper, accurate prediction and analysis of high concentration of PM2.5 were attempted. The results of this research could provide the basis for the Seoul Metropolitan Government to establish policies for reducing PM2.5 and measuring its effects.