• 아태비즈니스연구
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• 제10권3호
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• pp.37-51
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• 2019

In this paper, we investigate the performance of anomaly factors in Asia-Pacific Stock market and show the higher Sharpe ratio of the volatility managed smart beta portfolio. The smart beta portfolio combines the benefit of passive strategy and active strategy. However, the smart beta portfolios are seems to be exposed to the risk of anomaly factors from the perspective of traditional financial equilibrium model. Therefore, the smart beta strategy may generate negatively skewed returns unappealing to investors having lower risk tolerance. Our empirical investigations find that the return of the Asia-Pacific region stock market is more volatile than other regions with the lower efficiency ratio. However, the value factor and the momentum factor of Asia-Pacific region both show good performances. More interestingly, we also find that managing the volatility of the momentum factor in Asia-Pacific stock market almost doubles the efficiency ratio.

• The Journal of Asian Finance, Economics and Business
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• 제8권9호
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• pp.45-52
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• 2021

Stock price fluctuations affect investor returns, particularly, in this pandemic situation that has triggered stock market shocks. As a result of this situation, investors prefer to move their money into a safer portfolio. Therefore, in this study, we approach an efficient portfolio model using smart beta and combining others to obtain a fast method to predict investment stock returns. Smart beta is a method to selects stocks that will enter a portfolio quickly and concisely by considering the level of return and risk that has been set according to the ability of investors. A smart beta portfolio is efficient because it tracks with an underlying index and is optimized using the same techniques that active portfolio managers utilize. Using the logistic regression method and the data of 100 low volatility stocks listed on the Indonesia stock exchange from 2009-2019, an efficient portfolio model was made. It can be concluded that an efficient portfolio is formed by a group of stocks that are aggressive and actively traded to produce optimal returns at a certain level of risk in the long-term period. And also, the portfolio selection model generated using the smart beta, beta, alpha, and stock variants is a simple and fast model in predicting the rate of return with an adjusted risk level so that investors can anticipate risks and minimize errors in stock selection.

• 아태비즈니스연구
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• 제13권4호
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• pp.163-175
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• 2022

Purpose - This study introduces a methodology for finding the optimal tracking error of active stock funds. Tracking error is commonly used in risk budgeting techniques as a concept of cost for alpha creation. Design/methodology/approach - This study uses a post-optimal smart beta portfolio that maximizes alpha under the given tracking error constraint. Findings - As a result of the analysis, the smart beta strategy that maximized alpha under the constraint of 0.15% daily tracking error shows the highest IR. This means the maximum theoretically achievable efficiency. In this regard, a fixed-effect panel regression analysis is conducted to evaluate the active efficiency of domestic stock funds. In addition to control variables based on previous studies, the effect of tracking error on alpha is analyzed. The alpha used in this model is calculated using the smart beta portfolio according to the size of the constraint of the tracking error as a benchmark. Contrary to theoretical estimates, in Korea, the alpha performance is maximized under a daily tracking error of 0.1%. This indicates that the active efficiency of domestic equity funds is lower than the theoretical maximum. Research implications or Originality - Based on this study, it is expected that it can be used for active risk management of pension funds and performance evaluation of active strategies.

• Journal of Smart Tourism
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• 제3권1호
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• pp.35-39
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• 2023

This research note probes the largely ignored sphere of smart tourism curriculum as destinations and institutions seek to develop graduates ready to embrace the demands and challenges of future work environments where technology has a ubiquitous presence. This knowledge gap is somewhat surprising, even as destinations progress towards smart tourism futures, without necessarily clarifying what human resources need to possess in the coming decades. Drawing from available smart tourism curriculum across the globe, and emergent trends associated with Generation Alpha and Beta, this research note paints a timely picture of how smart tourism curriculum should be designed and developed to meet the needs of industry and consumer demands and expectations.

• 치위생과학회지
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• 제15권6호
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• pp.761-767
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• 2015

본 연구는 스마트폰의 사용 현황과 중독의 관련성을 알아보기 위해 일부 지역의 치위생과에 재학 중인 대학생 515명을 임의 표본 추출하여 설문조사를 실시하였으며 다음과 같은 결론을 얻었다. 스마트폰을 구입한 이유는 '다른 사람과의 교류를 위해서"가 24.8%로 가장 많았고, '정보 검색'과 '전화 및 문자'가 16.5%, '주변사람들이 모두 가지고 있어서'가 15.7%의 순으로 나타났다. 스마트폰의 사용 용도는 카카오톡이나 페이스북 등과 같은 SNS를 사용하는 용도가 20.0%로 가장 많았고, '전화 및 문자'가 16.6%, '음악감상' 16.2%, '자료 검색' 15.4% 순이었다. 일반적 특성과 스마트폰 중독의 관련성을 알아본 결과 교우관계가 좋은 경우(p=0.028)와 지방에 거주한 학생(p<0.000)이 스마트폰 중독 수준이 높았다. 스마트폰 중독에 영향을 미치는 요인으로는 교우관계가 좋은 경우(${\beta}$=0.138)와 스마트폰 사용시간이 긴 경우(${\beta}$=0.308), 학습태도가 좋은 경우와(${\beta}$=-0.123) 대학생활 적응을 잘 하는 경우(${\beta}$=-0.154)였다. 본 연구는 치위생과 학생의 스마트폰 사용실태를 파악하고 스마트폰 중독과 학습태도 및 교우관계와의 관련성을 확인한 최초의 연구로서 학교 내에서 스마트폰의 무분별한 사용 제한과 면학 분위기 향상을 위한 기초 자료로 활용할 수 있을 것으로 생각한다.

• Food Science and Biotechnology
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• 제17권1호
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• pp.106-113
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• 2008

The antioxidant and anti-inflammatory protective effects of $\beta$-glucan from barley on RAW 264.7 murine macrophage cells induced by lipopolysaccharide (LPS) were examined. The RAW 264.7 murine macrophages were preincubated with various concentrations ($0-200\;{\mu}g/mL$) of $\beta$-glucan and stimulated with LPS to induce oxidative stress and inflammation. The $\beta$-glucan treatments were found to reduce thiobarbituric acid-reactive substance (TBARS) accumulation, and enhance glutathione levels and the activities of antioxidative enzymes, including superoxide dismutase (SOD), catalase, glutathione reductase, and glutathione peroxidase (GSH-px) in the LPS-stimulated macrophages as compared to the LPS-only treated cells. Nitric oxide (NO) production was significantly suppressed in a dose-dependent manner (p<0.05) with an $IC_{50}$ of $104\;{\mu}g/mL$. Further treatment with $\beta$-glucan at $200\;{\mu}g/mL$ suppressed NO production to 2% of the LPS-control, and suppressed the levels of inducible nitric oxide synthase (iNOS) protein and mRNA in a dose-dependent manner. The specific DNA binding activity of nuclear factor ${\kappa}B\;(NF{\kappa}B)$ was significantly suppressed by $\beta$-glucan treatment with an $IC_{50}$ of $220\;{\mu}g/mL$ in a dose-dependent manner. Finally, barley $\beta$-glucan ameliorates NO production and iNOS expression through the down-regulation of $NF{\kappa}B$ activity, which may be mediated by attenuated oxidative stress in RAW 264.7 macrophages.

• BMB Reports
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• 제44권7호
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• pp.452-457
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• 2011

The Egr-1 is an immediate early response gene encoding a transcription factor that functions in the regulation of cell growth, differentiation, and apoptosis. Estrogen has diverse physiological effects, including cellular proliferation and neuroprotection against brain injury. There are two types of estrogen receptors (ERs), $ER{\alpha}$ and $ER{\beta}$. $ER{\alpha}$-induced Egr-1 expression has been extensively studied; however, the role of $ER{\beta}$ is yet not known. In the present study, we investigated whether or not $ER{\beta}$ induces Egr-1 expression in C6 rat glioma cells, which express $ER{\beta}$ but not $ER{\alpha}$. Our results show that $ER{\beta}$ promoted up-regulation of Egr-1 expression via a non-genomic mechanism involving the Raf/MEK1/Erk/Elk-1 signaling cascade.

• 한국전자통신학회논문지
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• 제10권11호
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• pp.1297-1306
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• 2015

스마트 기기를 활용한 다매체 119신고서비스의 도입으로 소방관들은 감정노동에 더욱 노출되게 되었다. 본 연구는 이러한 소방관의 높아진 감정노동 수준이 직무만족에 미치는 영향을 알아보기 위하여 수행되었다. 그 결과 소방관의 감정노동수준이 높을수록 직무 스트레스(${\beta}=0.166$, p=0.000)와 사회적 지지(${\beta}=0.540$, p=0.000) 정도는 높아지는 결과를 보였으나, 직무만족은 낮아지는 경향을 보였다(${\beta}=-0.136$, p=0.000). 소방관들은 국민의 안전과 재산을 보호하는 중요한 업무를 수행하므로 이들의 직무만족 정도는 업무수행의 원동력이 된다. 이에 소방관의 감정노동을 관리할 수 있는 체계적이고 실질적인 예방 교육과정이 필요하리라 생각된다.

• Molecules and Cells
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• 제40권7호
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• pp.457-465
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• 2017

Streptozotocin (STZ)-induced murine models of type 1 diabetes have been used to examine ER stress during pancreatic ${\beta}$-cell apoptosis, as this ER stress plays important roles in the pathogenesis and development of the disease. However, the mechanisms linking type 1 diabetes to the ER stress-modulating anti-diabetic signaling pathway remain to be addressed, though it was recently established that ERK5 (Extracellular-signal-regulated kinase 5) contributes to the pathogeneses of diabetic complications. This study was undertaken to explore the mechanism whereby ERK5 inhibition instigates pancreatic ${\beta}$-cell apoptosis via an ER stress-dependent signaling pathway. STZ-induced diabetic WT and CHOP deficient mice were i.p. injected every 2 days for 6 days under BIX02189 (a specific ERK5 inhibitor) treatment in order to evaluate the role of ERK5. Hyperglycemia was exacerbated by co-treating C57BL/6J mice with STZ and BIX02189 as compared with mice administered with STZ alone. In addition, immunoblotting data revealed that ERK5 inhibition activated the unfolded protein response pathway accompanying apoptotic events, such as, PARP-1 and caspase-3 cleavage. Interestingly, ERK5 inhibition-induced exacerbation of pancreatic ${\beta}$-cell apoptosis was inhibited in CHOP deficient mice. Moreover, transduction of adenovirus encoding an active mutant form of $MEK5{\alpha}$, an upstream kinase of ERK5, inhibited STZ-induced unfolded protein responses and ${\beta}$-cell apoptosis. These results suggest that ERK5 protects against STZ-induced pancreatic ${\beta}$-cell apoptosis and hyperglycemia by interrupting the ER stress-mediated apoptotic pathway.

• 한국철도학회:학술대회논문집
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• 한국철도학회 2011년도 춘계학술대회 논문집
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• pp.1799-1810
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• 2011

지금까지 교통수요 예측에 사용된 OD는 차량 번호판조사, 노측면접조사, 가구방문조사, 폐쇄선 조사 등과 같은 직접적인 표본조사 자료를 이용한 전수화 과정을 통하여 OD를 작성하였다. 그러나 이와 같은 OD는 표본조사 및 전수화 과정에서 많은 오차를 내포하고 있으며, 이러한 오차는 예측된 교통량이 관측치와 상이하게 나타나는 문제점을 지니고 있다. 따라서 본 연구에서는 대중교통(버스, 지하철) 전수화 자료나 다름없는 교통카드 자료를 이용하여 통행분포 모형 중 가장 널리 사용되고 있는 중력모형(gravity model)중 이중제약 중력모형을 통하여 관측교통량과 추정교통량을 최소화 시키는 파라메타(parameter) 추정법을 제시하고자 한다. 파라메타 추정결과 버스는 =0.57, ${\beta}$=0.14, 지하철은 ${\alpha}$=0.21, ${\beta}$=0.05로 분석되었으며, 통계적 검증 결과 t-검증과 상관계수, Theil 부등계수 모두 관측량과 추정량의 차이가 없다는 결과 값이 도출되어 본 연구에서 제시한 파라메타 추정법이 통계적으로 유의한 것으로 나타났다.