• Management & Information Systems Review
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• v.30 no.2
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• pp.257-275
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• 2011

The price relationship between the futures market and the underlying spot market has attracted the attention of academics, practitioners, and regulators due to their roles during periods of turbulence in financial markets. The purpose of this paper is to investigate the dynamic of price relationship(or lead-lag relationship) between Korean Treasury Bond futures market and spot market. To examine the nature of the price relationship, descriptive statistics, serial correlation, and cross-correlation are used as a preliminary statistics in the Korean Treasury Bond spot and futures market. Next, following Stoll-Whaley(1990) and Chan(1992), the multiple regression method is used to examine the lead-lag patterns between the two markets. The empirical results are summarized as follows. The mean returns of spot markets and future markets are positive(+) and negative(-) respectively and the standard deviation of both stock and futures returns increase through the sub-periods. For the most periods, there is negative skewness in the both markets. The zero excess kurtosis due to the heavy tails of the distribution are relatively large. The autocorrelations in the spot returns for the sample periods are positive in time lag 1, but the autocorrelations in the future returns shows no significant evidence. The results of the daily cross-correlations between the KTB spot and futures returns indicate that a lead-lag relationship don't exist for price changes of futures and spot markets as a preliminary analysis. Finally, empirical results of regression analysis for both market indicate that there is no evidence that the KTB futures lead the KTB spot market, or the KTB spot market lead the KTB futures market. These results are robust for all sub-periods.

• Journal of Korean Tunnelling and Underground Space Association
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• v.20 no.2
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• pp.361-374
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• 2018

The country has built and is operating IT-based integrated management system for efficient management of national highway tunnels used publicly these days. Since this system doesn't include the management function on earthquakes, it is impossible to promptly respond to earthquakes and to select the sections requiring seismic reinforcement. Tunnels designed and constructed after 1999 have been subjected to seismic design for an earthquake with a return period 1000 years. Therefore, it is necessary to evaluate the stability of structures in case of earthquakes more than this. Since it takes a lot of time to perform the stability evaluation on various earthquake magnitudes, a method that can easily evaluate earthquakes is needed. In this paper, the empirical simplification method that can easily evaluate the earthquake was proposed. For this, the study calculated ground displacement by conducting one-dimensional ground response analysis, and examined the safety of tunnels in the event of occurrence of an earthquake using two means of response displacement method (analytics and numerical analysis).

• Journal of Dental Rehabilitation and Applied Science
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• v.26 no.1
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• pp.69-75
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• 2010

Botulinum toxin type A(BTX-A) has been applied successfully to treat masseteric hypertrophy. However it can cause muscle weakness. This study was designed to measure the change in maximum bite force(MBF) after BTX-A injection into human masseter muscle and to evaluate the influence of a booster(repeated) injection. Thirty volunteers completed 18-week follow-up and MBF was measured. At 18 weeks after the first injection, a booster injection was given to 14 patients and they were followed up until 18 weeks from the booster injection. The mean MBF was approximately 20% lower at 2 weeks than before the injection, and it recovered gradually after 4 weeks to return to the preinjection level at 12 weeks. The MBF differed significantly between before the injection and at 2, 4, and 8 weeks after the injection(p<0.05). In booster injection group(n=14),the MBF decreased markedly at 6 weeks(p<0.05),and it recovered gradually in 12 weeks. The MBF was significantly reduced after booster injection of BTX-A into the human masseter muscle. The degree of discomfort experienced by the subjects had little effect on normal mastication.

• Journal of the Korean Arthroscopy Society
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• v.16 no.1
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• pp.79-86
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• 2012

The conservative treatment for impingement and rotator cuff tear includes rest, nonsteroidal anti-inflammatory drugs (NSAIDs), local steroid injection and physiotherapy depending on the purpose to relieve the pain and inflammation, in addition, stretching exercise to recover flexibility and strengthening exercise to recover the function could be used. When these conservative treatments are divided into multiple steps, the first one contains pain relief, modification of daily activity and stretching exercise. Second step includes strengthening exercise of the anterior/posterior cuff and peri-scapular muscles and eventually. The third step includes training program to return to job, housework and hobby activities and maintain. Thus, the key of these step wise approach for the treatment of impingement and rotator cuff tear is exercise program. Understanding of various exercise program and apply to the patients properly is most important for the conservative treatment of impingement and cuff tear.

• Journal of Korea Water Resources Association
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• v.40 no.10
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• pp.811-821
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• 2007

The intensity-duration-frequency (IDF) curves by Talbot, Sherman and Japanese type formulas are widely used in South Korea since the parameters are easily estimated. However, these IDF curves' accuracies are relatively worse than those of the IDF curves developed by Lee et al. (1993) and Heo et al. (1999), and different parameters for the given return periods should be computed. In this study, parameter estimation method for the IDF curve by Heo et al. (1999) is suggested using genetic algorithm (GA). Quantiles computed by at-site frequency analysis using the rainfall data of 22 rainfall gauges operated by Korea Meteorological Administration are employed to estimate the parameters of IDF curves and minimizing root mean squared error (RMSE) and relative RMSE (RRMSE) of observed and computed quantiles are used as objective functions of GA. The comparison of parameter estimation methods between the empirical regression analysis and the suggested method show that the IDF curve in which the parameters are estimated by GA using RRMSE as an objective function is superior to the IDF curves using RMSE.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.15 no.11
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• pp.6630-6638
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• 2014

The concerns for higher returns among investors in Korea are increasing as local interest rates lag behind the global market. The aim of this study was to provide a basis for estimating the precise return on investment to private investors and stakeholders of office buildings by identifying the optimal scale estimation of office building space, derived from managerial expenses. The literature on the economies theories of scales were reviewed, and the average administrative costs on an appropriate scale were assessed by cross-analysis and regression analysis using the U-shaped quadratic and cubic function. The findings suggest that the average office building managerial costs are approximately 6-11% according to the region, 10-13% according to the grade, and 8-9% according to size. Corporate-owned buildings represent the highest in terms of the average managerial costs, and there is an approximately 11.5% difference when it comes to outsourcing. In addition, the elapsed year showed that approximately 5.3 years to meet the lowest U-shaped curve of the average managerial cost. The 'Total floor area' variable shows a ${\bigcap}$-shape as it continue to increase to 72,000-Pyung then decrease gradually. This study presents the fundamental proposition of efficient and practical management of cost, lease and operation for real estate management firms by utilizing LCC.

• Economic and Environmental Geology
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• v.42 no.2
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• pp.133-141
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• 2009

For economic impact analysis on a R&D project of high-yield groundwater development in Jeju conducted by KIGAM from 2004 to 2007, benefit/cost ratio(BCR), net present value(NPV), and internal rate of return(IRR) were calculated by contingent valuation method(CVM), production function analysis, domestic water market analysis and technology factor analysis. Measurable direct impact parameters among the major outputs of this R&D project consisted the estimation 4 high-yield and high mineral groundwater reserve in Jeju. Annual use of the reserve by piped water and bottled water was estimated as 12.23 million ton and its monetary value was calculated as 293.4 million dollar in 2006 year value applied of 5.5% discount rate. Economic impact of this R&D project in NPV of year 2006, with applying a discount rate of 5.5%, was identified and estimated as 13.66 million dollar in NPV, 4.05 points in BCR, and 22.74% in IRR, respectively. Additional early launch benefit was 5.58 million dollar. Even increased of the 1% discount rate, NPV of this R&D project was also positive as 12.18 million dollar and BCR was 3.71.

• Journal of Korea Water Resources Association
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• v.45 no.3
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• pp.263-274
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• 2012

Recently, due to various climate variabilities, extreme rainfall events have been occurring all over the world. Extreme rainfall events in Korea mainly result from the summer typhoon storms and the localized convective storms. In order to estimate appropriate quantiles for extreme rainfall, this study considered the probability behavior of daily rainfall from the typhoons and the convective storms which compose the annual maximum rainfalls (AMRs). The conventional rainfall frequency analysis estimates rainfall quantiles based on the assumption that the AMRs are extracted from an identified single population, whereas this study employed a mixed distribution function to incorporate the different statistical characteristics of two types of rainfalls into the hydrologic frequency analysis. Selecting 15 rainfall gauge stations where contain comparatively large number of measurements of daily rainfall, for various return periods, quantiles of daily rainfalls were estimated and analyzed in this study. The results indicate that the mixed Gumbel distribution locally results in significant gains and losses in quantiles. This would provide useful information in designing flood protection systems.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.1
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• pp.177-189
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• 2022

This study proposes policy recommendations for the Korea New Exchange ("KONEX"), which is a financial platform for SMEs and startups that relied on indirect and policy financing in the past. SMEs and venture firms with limited human and physical listing resources can grow through market incubation, and venture capitalists expect an early exit or return on investment. However, the lack of liquidity and sluggish trading volume have weakened the function of the market. Despite prior policy efforts, the number of newly listed companies has decreased while listing demand for KOSDAQ and K-OTC has increased. This study aims to suggest short- and long-term improvements in regulations and throughout the KONEX firms' listing life cycle. First, the minimum deposit requirement on individual investors should be abolished to increase the number of investors. Second, information disclosure should be conducted by firms so that the nominated advisor can focus on discovering and supporting new listed companies. Third, in order to increase trading volume, the 5% dispersion rule should be changed to 25% dispersion incentive principle. Fourth, a new track without profit condition in expedited transfer listing should be introduced because the KOSDAQ relaxes the profit realization requirements for listing. Lastly, transfer listing without additional review for firms that fulfill ownership dispersion, information disclosure, and investor protection will strengthen the incubating role of the KONEX.

• The Journal of Korean society of community based occupational therapy
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• v.1 no.2
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• pp.31-43
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• 2011

Objective : The purpose of this case study was to proposed a introduction and result of the disabled with stroke in community using services of Community-Based Rehabilitation. Methods : The subject was a 63-years old female patient with stroke who first visit to Public health center in July. She was evaluated on activity daily living action level by using the Modified Barthel Index(MBI) and depression level by using Beck Depression Inventory(BDI). The intervention that was suggested by WHO were Community-Based Rehabilitation(CBR) and general occupational therapy. We were applied from April, 27th 2011, to November 30th, 2011 by occupational therapist. Results : The patient's total MBI score increased from 35 to 55, it means that activity daily living performance capacity was improved. And BDI score decreased from 26 to 14, it means that depressed symptoms were in great decline. She could stand until 5-10 minutes at first, but later stand over 30minutes now. It means her muscle strength and endurance level was increased. The patient's mood condition also was stabilized and then she often showed her smiling face during the therapy. And her protector feels the client's change too. Conclusion : We could know that function level and quality of life of the patient with stroke who return to the community was improved through service of community-based rehabilitation.