• The Journal of Asian Finance, Economics and Business
• /
• v.7 no.10
• /
• pp.523-530
• /
• 2020

The efficient market hypothesis explains the random walk hypothesis suggesting that stock prices are independent of each other, hence, it is impossible to earn abnormal profits. The positive effect of a well-functioning and highly efficient stock market on the performance of an economy motivated the Philippine Stock Exchange to pursue massive modernization initiatives. This research provides evidence of the existence of random walk in the Philippine stock market employing the Augmented Dickey-Fuller (1981) and Phillips-Perron (1988) unit root tests, the Lo-MacKinlay's (1988) conventional variance ratio test, and Chow-Denning's (1993) simple multiple variance ratio test. Results of the ADF and PP unit root tests confirm the necessary condition for a random walk. The Chow-Denning (1993) maximum /z/ statistic and the Wald test statistic as in Richardson and Smith (1991) for the joint hypotheses and the Lo and MacKinlay (1988) individual statistics variance ratio test generally accepted the null hypothesis of a random walk. That is, the unit root and variance ratio tests consistently indicate that the null hypothesis of random walk cannot be rejected. The existence of a random walk in weak-form efficiency can be attributed to market liquidity as a result of continuous development and modernization of the Philippine equity market.

• Journal of the Korean Home Economics Association
• /
• v.44 no.8
• /
• pp.47-61
• /
• 2006

The study analyzed the characteristics of the daily life and the living arrangements use of the elderly with literature review after the modernization period based on the daily life perspectives. The changes in the ideology, social system, and family system, which influenced the society and families, also affected the status of the elderly and their daily lives. Consequently, they had been facing conflicts, acceptance, and internal differentiations. The characteristics of the changes in the daily lives of the elderly in different periods were as follows. The contents were written from three different perspectives, phenomenological, symbolic interaction, and Marxist. During the modernization period, the family system and the hierarchy within a family had been reformed. However, the elderly were still considered as the symbolic leader and the respected figure of the family. From a phenomenological perspective, elderlies teach the next generations and influence the family's lives. On the other hand, from a perspective of symbolic interactions, spatial adjustment behaviors toward the largest room between the elderly and the next generation were detected. The actual authority was given to the next generation. However, the elderly were still treated as the symbolic authority. Yet, as the society became more industrialized, conflicts aroused about the support of the elderly. Those, who were neglected from the family, even spent their daily time at the elderly center or the community center. The daily lives from the Marxist perspectives suggested that modernization caused the young generations, who were well-educated and had financial powers, to have initiatives. The role of the elderly was reduced and they became negligible people, who spend meaningless daily lives. The interested the Third Ages is a new perspective on the elderly, who were neglected from the industrialized society. From a phenomenological perspective, the Third Ages are the generations that seek and demand for new housing.

• International Journal of Human Ecology
• /
• v.8 no.1
• /
• pp.53-66
• /
• 2007

The purpose of the study is to microscopically re-clarify the reality of renovation and conflicts that females faced within their families since the modernization period. The research method is the literature review. Families have been considered based on the formation of individual spaces for housing by husband and wife. The study will analyze changes in daily lives and housing consciousness to understand how such housing areas are transforming. The results of the study are as follows. From the perspective of symbolic interaction, in a traditional society, Korean females have been experiencing alienation and isolation in private areas in their daily lives due to family centrism and male chauvinism. Since industrialization, the female's role as the major consumer has been emphasized. Also, in terms of housing space, the symbol of family interaction was influenced more by utility, rationality, and equality than spatial hierarchy. From the perspective of the dailiness of phenomenological traditions, the modern girl's housing consciousness, which appeared during modernization under colonial rule, is considered as revolutionary from traditional society. Soon after in industrialized society, females appeared as leaders of 'sweet home'. They also became the main body to create the space for living by giving meaning to the interior of housing. Considering dailiness from the Marxist perspective, under the colonial social system, females became the subject of colonization through education, socialization, and the labor market. The modern public system presents the female as 'a wise mom and good wife' or laborer causing the colonization of her life. After industrialization, the socialization of housing and prioritization of spending caused the daily lives of females to become colonized by the consumption market.

• Journal of the Korean Society of Costume
• /
• v.59 no.7
• /
• pp.127-139
• /
• 2009

The purpose of this study is to research the change of Tibet's commercial district following Tibet's globalization(traditional clothing to modern clothing). Tibet's traditional culture is fastly changing for two major reasons: Chinese government's persistent assimilation policy on minority ethnic groups and globalization, a powerful trend worldwide. Therefore this investigation was conducted on the most preeminent feature of life, clothing culture, at capital city Lhasa where modernization is most prominent and fast in Tibet. For this, the first field investigation was conducted between February 5th and 15th, 2007. and the second investgation was between January 16th and 25th, 2008. As a result, the study on clothing globalization in Lhasa, Tibet, reaches the conclusion as follows: Based on such developments, commerce of Lhasa has been modernized, bringing about great change in composition and formation of its commercial district. Stores have been modernized and their service quality has improved. While the number of traditional clothes shops has decreased, various types of modern clothes shops have emerged. Modern clothes stores mostly consist of quality men's wear shops, casual clothing shops targeting those in their 20s, and sportswear shops reflecting global trend. This composition indicates that it is men and younger generation who first adopt new culture emerged through globalization. Tibet's modernization and social development have become an integral part of globalization and public sentiment. Therefore, its modernization will be driven by power and capability of the public, rather than by policy control of the central government.

• Journal of Families and Better Life
• /
• v.21 no.5
• /
• pp.25-40
• /
• 2003

Since Korea open her ports to the West, she had undergone a great change under the alien influences both on the macro-social and micro-social aspects. This study aims to review the korean housing, corresponding with the everyday life, during the period of transition between the 1876 - 1910 and to interpret its process of modernization and the meaning of modernity. With regards to understand the holistic human relationship and place pf living through history, this study takes the Nobert Elias' Civilization Theory as a theoretical basis. References were therefore, made to various records of foreign missionary at the time, with respect not only to macro sociological changes but also to changes of everyday life. It is of course to take physical and structural aspects of housing architecture into consideration. These works, thus, led to presuming the housing culture of said period. In order to investigate modern character of korean housing, distinctively represented by spatial structure, considerations were made to various architectural examples according to the social and residential status both in urban and rural area. As a results, this paper came to the remarks as follows; 1. It is understood, that the process of modernization is a part of the process of civilization as synthetic process. It is integrated with the change of socio-cultural aspects and everyday life. 2. Korean housing in the said period shows various different residential status and grade of civilization according to the social status as well as economical status. Modern housing was not in general yet. 3. Housing for high classes and middle classes in Seoul shows a tendency of assimilation and imitation after western model. But some examples within the housing of high classes represent its own modernity, that is based on the rationalism and equalization 4. In the housing of lower classes, it was very far from the benefits of civilization. It could analogize from the immature control of disgrace, from undevelopment of individual territory and from uncultivation of rationality in the housing space.

• Korean Institute of Interior Design Journal
• /
• v.21 no.5
• /
• pp.336-342
• /
• 2012

Chinese society, which maintained the feudal social system, has taken an isolationist policy in response to the Western aggression since $20^{th}$ century. However, in the wake of the Opium War of 1840, China had actively accepted Western culture, not in just politics and economy, but in diverse area of social property. Since these process, the modernization of China had begun and the Chinese museum has been erected and evolved through the process of it. And it can be deducted that the philosophy of socialist society had a considerable influence on the spatial configuration of the Chinese museum since it was at the heart of china's modernization. And another social shift has been made since 2000 that is regarded as the internationalization of China. It brought a new point of de-structuralism to the society since 2000 and it is leading the changes of various areas of culture and arts, including museology in Chinese society. The purpose of this study is to understand what changes have been made to the museums in China since 2000 and how the internationalization of China is engaged with this it, in terms of the spatial structure of a museum. To do this the study examined the spatial changes of the museum in the mathematical approach including Space Syntax tool and it was engaged with the changes of museum type. Throughout the study, it was concluded that spatial structure of museums in china has been changed from structural organization to de-structural one since 2000 of China's internationalization.

• The Journal of the Korea Contents Association
• /
• v.6 no.8
• /
• pp.49-56
• /
• 2006

Urban cmmunity films have achieved the industrial modern society's idiosyncrasy Popular films have achieved the industrial growth through city as the completion of modernization. They also have represented the social meaning of urban space, and have expanded 'their political space' This filmic challenge showed diverse negative factors which were the poor's economical difficulties, the relative robbery of their education and job, and adhered class in city through developing the urban space with were hidden beyond modernity's splendor.

• Journal of the Korean Institute of Rural Architecture
• /
• v.8 no.1
• /
• pp.101-110
• /
• 2006

During high speed economic growth period in Korea, our society has focused it's energy on the economic and social development based on the strategy of demolition and destruction of all our natural and man-made environment. In progress with that trend, our small cities in Korea also have just followed the metropolitan physical development pattern and considered that imitation of those metropolitan cities' or western cities' changes be the same meaning of "modernization". Therefore, our valuable urban and architectural heritages have been constantly destructed and that situation has been same in Anseong. Now in the new trend of environmentally sustainable urban design and at the new millenium period, we have to focus our attention on the retaining strategy of city's historicity as a city planner or an architect, and the first step for this strategy shall be to clarify the transition process of urban structure, especially of C.B.D. area of small cities since pre-industrial period.

• Asian Journal for Public Opinion Research
• /
• v.2 no.3
• /
• pp.140-171
• /
• 2015

As China's economic development brings the country out of poverty and into modernity, a long-lasting debate concerns whether the Chinese public's value system is also changing toward the so-called "modern values," or whether some distinctly traditional Chinese values remain unchanged. Using empirical data collected at three points in time during the 1990s and the first two decades of the 21st Century (1993, 2002, and 2011), I found that Chinese citizens who benefitted from urbanization, rising levels of education and employment in non-farm, knowledge-based industries displayed stronger modern values. People with stronger modern values are more likely to emphasize individual autonomy, competition, gender equality, and market transaction, among others. Some characteristics of the Chinese people, most importantly family values, however, seem to remain stable amidst rapid social changes.

• Proceedings of the Korean Institute of Interior Design Conference
• /
• 2001.05a
• /
• pp.86-89
• /
• 2001

Popular in the 1990s, Western Minimalism declined in popularity in the end of the century while the Oriental Mysticism and the Oriental Minimalism called “Zen Style” appeared. Fusion and Oriental Minimalism, both of which pursue traditional beauty and the essence of functionality and beauty, are combined with Japanese elements. As Oriental Minimalism is oriented towards Japan and China, we should consider the Japanese modernization process. Japan internationalized their own traditional elements after modernization. On the other hand, we only focus on tradition in a view of modernity, Japan developed their own culture whereas we followed the Western influences and trends after our culture and social structure were destroyed because of the civil war. Therefore, the aim of this paper is to find out the possibility of culture variety in interior design from the Japanese samples which modernized their culture in various sights. In other words, I researched and analyzed the expressive trends in Japanese Contemporary interior design, architecture and similarity and difference between Korea and Japan.