• Title/Summary/Keyword: Socio-economic Variables

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The Economic Impact of the May 18 Democratic Uprising on the Regional Economy: A Synthetic Control Method (SCM) approach (5·18민주화운동이 지역경제에 미친 경제적 영향 분석: 통제집단합성법(SCM)을 이용한 접근)

  • Ryu, Deockhyun;Seo, Dongkyu
    • Analyses & Alternatives
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    • v.6 no.2
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    • pp.155-183
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    • 2022
  • The purpose of this study is to econometrically analyze the negative impact of the May 18 Democratic Uprising on the Gwangju/Jeonnam regionional economy using the Synthetic Control Method (SCM). The SCM SCM is a methodology similar to the difference-in-difference(DID) method of microeconometrics. It is applied to macroeconomic variables such as country, region, etc. to estimate the causal relationship between specific events and the dependent variable. In this study, as of 1980, local tax revenue data of metropolitan local governments were used as a proxy variable for the economy of the region, and the impact of the May 18 Democratic Uprising on the economy of Gwangju/Jeonnam region was analyzed through various socio-economic indicators. In this study, data were used to analyze from 1971 to 2000, and as a result of empirical analysis, local tax revenues in Gwangju/Jeonnam area were less collected than normal routes up to 17%. In addition, the significance of this analysis was confirmed through in-time placebo effect analysis and in-space placebo effect analysis, which are methods of analyzing the robustness of the control group synthesis method.

Sentiment Analysis of News Based on Generative AI and Real Estate Price Prediction: Application of LSTM and VAR Models (생성 AI기반 뉴스 감성 분석과 부동산 가격 예측: LSTM과 VAR모델의 적용)

  • Sua Kim;Mi Ju Kwon;Hyon Hee Kim
    • The Transactions of the Korea Information Processing Society
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    • v.13 no.5
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    • pp.209-216
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    • 2024
  • Real estate market prices are determined by various factors, including macroeconomic variables, as well as the influence of a variety of unstructured text data such as news articles and social media. News articles are a crucial factor in predicting real estate transaction prices as they reflect the economic sentiment of the public. This study utilizes sentiment analysis on news articles to generate a News Sentiment Index score, which is then seamlessly integrated into a real estate price prediction model. To calculate the sentiment index, the content of the articles is first summarized. Then, using AI, the summaries are categorized into positive, negative, and neutral sentiments, and a total score is calculated. This score is then applied to the real estate price prediction model. The models used for real estate price prediction include the Multi-head attention LSTM model and the Vector Auto Regression model. The LSTM prediction model, without applying the News Sentiment Index (NSI), showed Root Mean Square Error (RMSE) values of 0.60, 0.872, and 1.117 for the 1-month, 2-month, and 3-month forecasts, respectively. With the NSI applied, the RMSE values were reduced to 0.40, 0.724, and 1.03 for the same forecast periods. Similarly, the VAR prediction model without the NSI showed RMSE values of 1.6484, 0.6254, and 0.9220 for the 1-month, 2-month, and 3-month forecasts, respectively, while applying the NSI led to RMSE values of 1.1315, 0.3413, and 1.6227 for these periods. These results demonstrate the effectiveness of the proposed model in predicting apartment transaction price index and its ability to forecast real estate market price fluctuations that reflect socio-economic trends.

Determinants of Consumer Preference by type of Accommodation: Two Step Cluster Analysis (이단계 군집분석에 의한 농촌관광 편의시설 유형별 소비자 선호 결정요인)

  • Park, Duk-Byeong;Yoon, Yoo-Shik;Lee, Min-Soo
    • Journal of Global Scholars of Marketing Science
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    • v.17 no.3
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    • pp.1-19
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    • 2007
  • 1. Purpose Rural tourism is made by individuals with different characteristics, needs and wants. It is important to have information on the characteristics and preferences of the consumers of the different types of existing rural accommodation. The stud aims to identify the determinants of consumer preference by type of accommodations. 2. Methodology 2.1 Sample Data were collected from 1000 people by telephone survey with three-stage stratified random sampling in seven metropolitan areas in Korea. Respondents were chosen by sampling internal on telephone book published in 2006. We surveyed from four to ten-thirty 0'clock afternoon so as to systematic sampling considering respondents' life cycle. 2.2 Two-step cluster Analysis Our study is accomplished through the use of a two-step cluster method to classify the accommodation in a reduced number of groups, so that each group constitutes a type. This method had been suggested as appropriate in clustering large data sets with mixed attributes. The method is based on a distance measure that enables data with both continuous and categorical attributes to be clustered. This is derived from a probabilistic model in which the distance between two clusters in equivalent to the decrease in log-likelihood function as a result of merging. 2.3 Multinomial Logit Analysis The estimation of a Multionmial Logit model determines the characteristics of tourist who is most likely to opt for each type of accommodation. The Multinomial Logit model constitutes an appropriate framework to explore and explain choice process where the choice set consists of more than two alternatives. Due to its ease and quick estimation of parameters, the Multinomial Logit model has been used for many empirical studies of choice in tourism. 3. Findings The auto-clustering algorithm indicated that a five-cluster solution was the best model, because it minimized the BIC value and the change in them between adjacent numbers of clusters. The accommodation establishments can be classified into five types: Traditional House, Typical Farmhouse, Farmstay house for group Tour, Log Cabin for Family, and Log Cabin for Individuals. Group 1 (Traditional House) includes mainly the large accommodation establishments, i.e. those with ondoll style room providing meals and one shower room on family tourist, of original construction style house. Group 2 (Typical Farmhouse) encompasses accommodation establishments of Ondoll rooms and each bathroom providing meals. It includes, in other words, the tourist accommodations Known as "rural houses." Group 3 (Farmstay House for Group) has accommodation establishments of Ondoll rooms not providing meals and self cooking facilities, large room size over five persons. Group 4 (Log Cabin for Family) includes mainly the popular accommodation establishments, i.e. those with Ondoll style room with on shower room on family tourist, of western styled log house. While the accommodations in this group are not defined as regards type of construction, the group does include all the original Korean style construction, Finally, group 5 (Log Cabin for Individuals)includes those accommodations that are bedroom western styled wooden house with each bathroom. First Multinomial Logit model is estimated including all the explicative variables considered and taking accommodation group 2 as base alternative. The results show that the variables and the estimated values of the parameters for the model giving the probability of each of the five different types of accommodation available in rural tourism village in Korea, according to the socio-economic and trip related characteristics of the individuals. An initial observation of the analysis reveals that none of variables income, the number of journey, distance, and residential style of house is explicative in the choice of rural accommodation. The age and accompany variables are significant for accommodation establishment of group 1. The education and rural residential experience variables are significant for accommodation establishment of groups 4 and 5. The expenditure and marital status variables are significant for accommodation establishment of group 4. The gender and occupation variable are significant for accommodation establishment of group 3. The loyalty variable is significant for accommodation establishment of groups 3 and 4. The study indicates that significant differences exist among the individuals who choose each type of accommodation at a destination. From this investigation is evident that several profiles of tourists can be attracted by a rural destination according to the types of existing accommodations at this destination. Besides, the tourist profiles may be used as the basis for investment policy and promotion for each type of accommodation, making use in each case of the variables that indicate a greater likelihood of influencing the tourist choice of accommodation.

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Factors Affecting Patient Waiting Times at the Outpatient Pharmacy Department in a Tertiary Care Hospital (3차진료기관 외래약국 투약대기시간에 영향을 주는 요인)

  • Park, Hayoung;Han, Ok-Youn;La, Hyun-Oh
    • Quality Improvement in Health Care
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    • v.1 no.2
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    • pp.60-72
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    • 1994
  • Background: The number of outpatients visiting large university teaching hospitals has increased drastically with the introduction of a nationwide health care insurance in 1989 and the improvement of the socio-economic status of the population. This resulted in long waiting times for services, particularly prescribed drugs, which have been patients' chief complaints. Hospitals have tried to solve the problem with limited success because their approach lacked comprehensive research. The objective of this study is to investigate associations between waiting times and variables defining a total work system. Methods: Data for the outpatient pharmacy department in a tertiary care university teaching hospital located in Seoul was analyzed to achieve the study objective. Associations of pharmacy system variables -- work load, work force, pharmacist work schedule, machine problems, and inventory control -- with mean and 99th percentile of waiting times were examined by the hierarchical stepwise regression method. Day was a unit of the analyses. Results: The regression models explained 65.8% of variance in the mean waiting time and 61.34% in the 99th percentile of waiting times. The break-down of the printer for drug envelops, Automatic Tablet Counters (ATCs), and main computer system lasted longer than 30 minutes increased the mean for 7.7 minutes, 4.5 minutes, and 7.0 minutes, respectively, and the 99th percentile for 14.8 minutes, 9.0 minutes, and 15.7 minutes, respectively. Concerning the work force, study results showed that there were significant differences in the productivity of pharmacists with work experience more than three years, one to three years, and less than one year, and showed that peak time aid work by pharmacists at job assignments other than the outpatient pharmacy, part-time pharmacists, and the installation of ATCs were effective in reducing waiting times, Finally, study findings indicated that the operational policy of work assignment and rotation schedule, supply and inventory of drugs at work tables, and readiness for undisrupted work during the work hours could have a significant effect on waiting times. Conclusion: The study results indicated that efforts to reduce waiting times for prescribed drugs should be geared toward every components of the pharmacy work system ranging from work schedule of pharmacists and supply of dugs at work tables. These findings should provide hospital managers with right directions in battling the problem.

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A Study on the Rationality of Wives' Decision Making in Purchasing - comparisons, Between Working and nonworking Wives- (도시주부의 購買의사결정 합리성에 관한 연구 -취업주부와 비취업주부의 비교분석-)

  • Shim, Sook;Kim, Kee-Ok
    • Journal of Families and Better Life
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    • v.5 no.2
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    • pp.109-125
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    • 1987
  • Previous studies show that working wives in the market contribute to the family economy that affects the family member's behaviors as consumers. Accordingly, the consumer behavior among working wives would be differ form that among nonworking wives. As the number of working wives in the market is increasing, this study focuses on the estimation of the degree of rationality in purchasing decision making among wives in relation to their working status. Therefore, this study attempts to construct an rationality index of a purchasing decision making both at a high and a low involvement situation by working and nonworking wives, and analyzes the differences in the results of the two groups. This study also examines how the rationality indices vary with the selected socioeconomic variables. The data are obtained from self-administered questionnaires from a sample of 217 working and 191 nonworking wives at Seoul and Seongnam in 1986. The statistical methods used in this study are Factor Analysis, Multiple Regression, and Analysis of Variances. The major findings of this study are as follows; 1) The mean value of the rationality index among nonworking wives is higher than that among working wives. Under a high involvement situation, the mean value of the rationality index among working wives is negative. Therefore, it is likely that nonworking wives make purchasing decisions more rationally than working wives. 2) The higher the degree of wive's education, the more rational the purchasing decision making. Under a low involvement situation, the higher the monthly family income, the more rational the purchasing decision making . under the same situation, the shorter the duration of marriage , the more rational the purchasing decision making. 3) Under a low involvement situation, the rationality indices of working wives vary with their occupations. The rationality indices among those in selling and service jobs are lower than those among those in professional jobs. 4) The impact of the selected socio-economic variables on the degree of the rationality in purchasing decision making differs depending on whether the wife is working or not. Under a low involvement situation, the positive impact of the monthly family income on the rationality in purchasing decision making is stronger among nonworking wives than among working wives. Under the same situation, the negative impact of the duration of marriage on the rationality is stronger among nonworking wives than among working wives.

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Financial Factors Influencing Corporate Cash Reserves of Firms in Chungcheong Province in the Korean Capital Markets (충청권 소재 제조업체들의 현금 유동성 수준에 대한 재무적 분석)

  • Kim, Hanjoon
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.18 no.1
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    • pp.679-687
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    • 2017
  • This study examines financial factors affecting cash holdings of firms in the domestic capital markets. Specifically, this study focuses on regional firms with headquarters in Chungcheong province, the Republic of Korea, which features little previous research concentrating on the firms in the particular region. Three primary hypotheses were empirically tested utilizing robust econometric models, including static panel data, Tobit regression, and logistic models.Results reveal only five explanatory variables, including DSO, LIQUID, LEVERAGE, PMARGIN, and SIZE, showed statistically significant effects on the level of cash holdings among the nine variables studied. In addition two IDVs, LEVERAGE and FOS, showed significant differentiated effects between firms with headquarters in North and South Chungcheong regions. With continued debate among interested parties on the optimal level of cash reserves, the study provides a new vision for the optimal cash reserves for firms with headquarters in Chungcheong Province, where unprecedented socio-economic factors are driven.

Factors Associated with the Non-Use of Beneficiaries of Long-Term Care Insurance Service: The Case of Jeollanam-do Province (노인장기요양보험 인정자의 미이용 관련요인 분석: 전남지역을 대상으로)

  • Kuk, Kyung-Nam;Kim, Roeul;Lim, Seungji;Park, Chong-Yon;Kim, Jaeyeun;Chung, Woojin
    • Health Policy and Management
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    • v.24 no.4
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    • pp.349-356
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    • 2014
  • Background: This study aimed to explore factors associated with the non-use of beneficiaries of long-term care insurance services for the elderly in Jeollanam-do Province by analyzing a dataset obtained from National Health Insurance Service. Methods: The study sample consists of 1,663 individuals who were evaluated as eligible for long-term care insurance services in Jeollanam-do Province during the period of July 1, 2008 through June 30, 2009. As a dependent variable, the non-use of the service was defined as one when a beneficiary had used it once or more times during one year after he or she was evaluated as eligible and as zero otherwise. A proportion analysis was conducted to describe characteristics of study sample. Chi-square tests were used to compare general characteristics between beneficiaries who had used the services and those who had not used them. Multiple logistic regressions were performed by three models including additional sets of explanatory variables such as socio-demographic characteristics, health conditions, and economic status. Results: Main results are summarized as follows. The proportion of beneficiaries who had not used the service was 14.5% of all beneficiaries. According to the results from the model using all explanatory variables, the factors associated with the non-use of the services were residence location, dwelling place, type of desired service, level of care needs, and instrumental activities of daily life limitations. Conclusion: In particular, regarding the type of desired service, the cash benefit showed a high likelihood of the non-use of the service; it had an odds ratio (OR) of 50.212 (95% confidence interval [CI], 24.00-105.04) compared with home service. In case of dwelling place, a hospital showed also a high likelihood of the non-use with an OR of 20.71 (95% CI, 10.12-42.44) compared with home.

A study on the factors influence on the family function of persons with mental illness - Comparison of the persons with recent onset and chronic mental illness - (정신질환자 가족기능에 영향을 미치는 요인연구: 발병초기와 만성 정신질환자의 비교)

  • Jo, Eun Jung;Kim, HyunSoo;Kim, Jong Chun
    • Korean Journal of Family Social Work
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    • no.57
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    • pp.99-124
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    • 2017
  • The primary objective of this study is to examine differences between the persons with recent onset and chronic mental illness in their family function; and analyze factors influence on the family function. The independent variables are divided into four sets: socio-economic, clinical, familial, and social characteristics. The subjects of this study are the 628 with mental disorders, and the sample was selected in Pusan and Gyeong-nam area. The findings of this study can be summarized as followed: The family with chronic mental illness showed higher family function in comparison with recent onset. Result of hierarchical multiple regression analysis show that age of onset, difference between ideal and reality in family function variable only influenced family function for the recent onset group, and activities of daily living, difference between ideal and reality in family function, caregiver's health, community support variables influenced family function for the chronic group. The results suggest a need for using different treatment approaches for recent onset versus chronic mentally disabled families. Implications for mental health social work practice for family with disabled are suggested.

Study on Resources That Influence Drop - Out Teenage Children's Choices on School Reentry: Central Focus on Family Resources (학업중단 청소년 자녀의 학교복귀 선택에 영향을 미치는 자원에 관한 연구: 가족자원 등을 중심으로)

  • Yun, Nana;Park, Jeongyun;Park, Yeonsuk
    • Journal of Family Resource Management and Policy Review
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    • v.26 no.1
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    • pp.27-42
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    • 2022
  • This study was conducted to examine the resources that influence the choice of drop-out students' reentry to school. A total of five years of panel analysis of 2,553 drop-out teenagers from 2013 to 2017 were utilized. In order to verify the resources that affect the choice of school reentry of teenagers with experiences of suspension of studies to formal middle and high school after July 2012, this study analyzed drop-out teenagers' family resources as well as their psychological, mental, and social-relationship resources. A crossover analysis, t-test, and hierarchical logistic regression analysis were conducted. The major outcomes of this study are as follows: First, the socio-demographic variables among the resources that affected the choice of reentry for school of teenager children were the type of family and number of moves to a new house. Second, the psychological and sentimental variable that affected the choice of school reentry was a decreasing level of positive recognition of the situation of suspension of studies combined with depression, impulsiveness, and perceiving society as one that discriminates based on the level of education. Third, significant family resource variables were the type of family form and parents providing economic support, which is a subfactor of parental attachment. Fourth, the presence of a mentor as a helpful social-relationship resource had a significant effect on relational resources. This study is significant in the sense that the positive family resources that affect the choice of school reentry of drop-out teenage students were determined, and the positive directivity of supportive family resources is presented for parents with teenage children experiencing a suspension of studies.

The Cross-Cultural Study about Effects of Service Quality Dimensions on CS in Korea and China (할인점 서비스품질의 각 차원이 CS에 미치는 영향에 대한 한(韓).중(中)간 비교 문화적 연구)

  • Noh, Eun-Jeong;Seo, Yong-Goo
    • Journal of Global Scholars of Marketing Science
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    • v.19 no.1
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    • pp.23-35
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    • 2009
  • A hypermarket as the one of the most globally standardized retailing format is also the type of store among various types of stores that the most active in expanding into other foreign markets. Recently, as several Korean retailing companies start to penetrate into Chinese market they differentiate themselves with modern facilities and customers service oriented high-end concept. China and Korea as Far East Asian countries share many common values, however precise and careful analysis should be carried out since there may also be critical differences in socio-economic aspects as well as in consumption patterns due to the level of development stages of retail industry among two countries. Even though precise and careful study is crucial on Chinese retailing market and consumers, none of researches and studies on 'how the quality of service dimensional structure is different between Korea and China', and 'what will be the most important and influential service dimensional factors for Chinese consuers compared to the hypermarkets customers in Korea' in order to improve the level of Chinese consumers satisfaction' have been fulfilled At this point of view, this study uses KD-SQS (Rho Eun Jung & Sir Yong Gu, 2008) which is a measure of Korean hypermarkets service quality to set up a hypothesis on Korean and Chinese consumers, and an empirical analysis is conducted. We try to get the answers about how the comparative importance of Service quality dimensions which decides the level of customer satisfaction is different depending on the cultural dimensions and socio-economic factors among two countries, Korea and China. Based upon the results, we try to give a valuable suggestion of what service dimensional factors should be reinforced to improve the level of CS in Chinese retailing market. Hypotheses for this study are as follows : H1. Each dimension of Service Quality significantly affects the level of CS H2. The effect of 'Basic Benefit' in service quality dimensions on the level of CS is greater in China than in Korea H3. The effect of 'Promotion' in service quality dimensions on the level of CS is greater in China than in Korea H4. The effect of 'Physical Aspects'in service quality dimensions on the level of CS is greater in Korea than in China. H5. The effect of 'Personal Interaction' in service quality dimensions on the level of CS is greater in China than in Korea H6. The effect of 'Policy' in service quality dimensions on the level of CS will be greater in Korean than in China H7. The effect of additional convenience in service quality dimensions on the level of CS will be greater in Korean than in China. More than 1,100 data were collected directly from the surveys of Chinese and Korean consumers in order to verify the hypotheses above. In Korea, stores which have floor space of over $9,000m^2$and opened later than year 2000 were selected for the samples, and thus Gayang, Wolgye, Sangbong, Eunpyeong, Suh-Suwon, Gojan stores and their customers were surveyed. In China, notable differences in the income levels and consumer behaviors between cities and regions were considered, and thus the research area was limited to the stores only in Shanghai. 6 stores which have the size of over $6,000m^2$ and opened later than 2000, such as Ruihong, Intu, Mudanjang, Sanrin, Raosimon, and Ranchao stores were selected for the survey. SPSS 12.0 and AMOS 7.0 were used as statistical tools, and exploratory factor analysis, confirmatory factor analysis, and multi-group analysis were conducted. In order to carry out a multi group analysis that decides whether the structure variables which shows the different effects of 6 service dimensions in Korean and Chinese groups is statistically valid, configural invariance, metric invariance, and structural invariance are tested in order. At the results of the tests, 3 out of 7 hypotheses were supported and other 4 hypotheses were denied. According to the study, 4 dimensions (Basic Benefit, Physical Environment, Policy, and additional convenience) were positively correlated with CS in Korea, and 3 dimensions (i.e. basic benefit, policy, additional convenience) were significant in China. However, the significance of the service-dimensions was turned out to be partially different in Korea and China. The Basic Benefit is more influential in deciding the level of CS in china than Korea, however Physical Aspect is more important factor in Korea. 'Policy dimension' did not make significant difference between two countries. In the 'additional convenience dimension', the differences in 'socio-economic factors' than in'cultural background' were considered as more important in Chinese consumers than Korean. Overall, the improvement of Service quality will be crucial factors to increase the level of CS in Chinese market same as Korean market. In addition, more emphases need to be placed on the service qualities of 'Basic Benefit' and 'additional convenience' dimensions in China. In particular, 'low price' and 'product diversity' that constitute 'Basic Benefit' are proved to be comparatively disadvantageous and weak points of Korean companies compared to global players, and thus the prompt strengthening those dimensions would be urgent for Korean retailers. Moreover, additional conveniences such as various tenants and complex service and entertaining area will be more important in China than in Korea. Besides, Applying advanced Korean Hypermaret`s customer policy to Chinese consumers will help to get higher reliability and to differentiate themselves to other competitors. However, as personal interaction, physical aspect, promotions were proved as not significant for the level of CS in China, Korean companies need to reconsider the priority order of resource allocations when they tap into Chinese market.

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