• 전기저널
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• 1호통권73호
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• pp.30-32
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• 1983

• 아태비즈니스연구
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• 제14권3호
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• pp.187-204
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• 2023

Purpose - This study deals with the manager's overconfidence and stock price delay, and verified whether the stock price delay phenomenon changes as the overconfidence increases. Design/methodology/approach - Manager overconfidence means that managers have over confidence in their positions or abilities, and was measured according to Schrand and Zechman (2012). Stock price delay is a phenomenon in which information of company is not immediately reflected in the stock price, but is reflected over time, and was measured by the method suggested in a study by Hou and Moskowitz (2005). The analysis subjects used in this study are companies listed on the KOSPI market between 2011 and 2019, and the final sample is 5,509 company-years. Findings - As a result of the verification, it was shown that the stock price delay decreased as the manager's overconfidence increased, and this effect was amplified as the foreign shareholder's share ratio increased and the number of follow-up financial analysts increased. This means that as the manager's overconfidence increases, he actively provides high-quality information to the capital market. In addition, as a result of subdividing the manager's overconfidence into the investment and capital raising aspects, the capital raising aspect has a significant effect on reducing stock delays. This can be interpreted as the fact that managers with overconfident tendencies have a greater incentive to satisfy investors' information needs. Research implications or Originality - In previous studies, the characteristics of managers with strong overconfidence have both positive and negative aspects. The results of this study are significant in that they clearly demonstrated the positive aspect through the market variable of stock price delay, and it is expected to help capital market stakeholders understand the characteristics of managers with a strong propensity for overconfidence.

• 종교문화비평
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• 제31호
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• pp.141-172
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• 2017

이글은 상대 갑골문에 나타난 수렵, 목축, 제사를 대상으로 연구를 진행하였다. 이글은 다음과 같은 두 가지 물음을 축으로 전개되었다. 첫째, 상대 사회에서 수렵, 목축, 제사가 삶의 세계를 구축하는데 담당한 역할은 무엇인가. 둘째, 수렵, 목축, 제사를 통해서 도출할 수 있는 신, 인간, 동물의 관계는 어떠한가. 이러한 두 가지 물음은 결국 상대구성원들이 자신들이 몸담고 살아가는 세계를 어떻게 구성하고 이해하였는지를 규명하기 위하여 던진 것이다. 본고는 이와 같은 물음을 해명하기 위하여 기존 이론을 적극적으로 활용하였다. 마이클 퓨에트의 관점은 본고를 구성하는 데 중요한 통찰력을 제공하였다. 그는 중국 고대사회에서 신의 세계와 인간의 세계는 조화로웠으며 상호 조응하는관계였다는 기존의 입장을 비판한 바 있다. 그에 따르면 중국 고대사회는 신들의 세계가변덕스럽고 예측할 수 없는 힘으로 가득하며 인간의 세계에 재앙을 끼칠 수 있는 위험을지닌 것으로 보았기 때문에 이를 통제할 수 있는 수단이 필요하였다. 그는 제사와 점복이야말로 중국 고대사회에서 이러한 신들의 세계를 통제하기 위하여 동원되었던 장치라고 판단하였다. 본고는 그의 주장을 수렵과 목축에도 적용하고자 하였다. 이러한 과정을거쳐서 본고가 도달한 결론은 다음과 같다. 첫째, 상대는 두 가지 세계가 지닌 잠재적 위험성을 잠재우고자 진력하였다. 상대는 동물로 대표되는 자연의 세계와 신의 세계를 인간의 삶을 위협하는 미지의 영역으로 파악하였다. 수렵, 목축, 제사는 삶에 무질서를 초래할지도 모르는 이 두 가지 힘의 영역을 통제하는 수단이었다. 둘째, 수렵, 목축, 제사를 통해서 밝혀진 신, 인간, 동물의 관계는 각각의 상황에 따라서 다른 특성을 드러냈다. 수렵과 목축은 인간이 폭력을 사용함으로써 동물을 길들이는 중요 수단이었다. 동물은제사에서 폭력을 통해 살해되어 '희생'이 됨으로써 인간과 신의 메신저로서 새로운 위상을 차지하였다. 이처럼 동물은 인간보다 열등하거나 우월한 성격을 모두 지닌 존재로서 신과 인간 사이에서 독특한 위상을 차지하고 있었다.

• 월간포장계
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• 통권102호
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• pp.158-178
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• 2001

• 한국IT서비스학회지
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• 제11권3호
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• pp.191-203
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• 2012

In the stock market, the investors rely on stock information to trade. Good information may stimulate buying, raising the stock prices and the bad information may result in selling, decreasing the stock prices. In terms of the relationship between information and stock prices, stock prices can be viewed as reaction of investors to all the information flowing into the market. The significant increase of web stock news volume is often associated with the significant changes of stock prices. When the web stock news volume for a firm increases significantly, the stock price movement is often oscillatory. This paper attempts to investigate the relationship between volumes of information from Korean web IT and stock prices in Korean stock market. This research shows that when the web stock news volume increases significantly, volatility, trading volumes and rate of returns are increase too. The results of the study provide us with the new clues to the microstructure of the stock market from the perspective of the web news.

• 전력전자학회:학술대회논문집
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• 전력전자학회 2001년도 전력전자학술대회 논문집
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• pp.50-53
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• 2001

In this paper, we applied the Utility Interactive Photovoltaic-Wind Hybrid Generation System for stock raising waste disposal system. For the power consumption reduction of proposed system, we used the electromotive control system. So as to verify the propriety of proposed system, we made a Pilot Plant and examined the system.

• 대한가정학회지
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• 제49권8호
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• pp.37-46
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• 2011

Using the 1987-2008 quarterly aggregated data of the Household Income and Expenditure Survey, this study investigated the factors influencing household saving rate. The independent variables in the AR regression model were the GDP growth rate, shares of the total household expenditure allocated to tax & social insurance, and education, the variables reflecting the conditions of the asset market including interest rate, stock market index, and real estate price index, and the variables representing the social economic conditions including the index of aging and income inequality. Among the independent variables interest rate, stock market index, and income inequality were found to be significantly associated with the household saving rate. These results suggested that the redistribution and financial market policies favorable to savers may be effective for raising the household saving rate.

• 아태비즈니스연구
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• 제14권4호
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• pp.431-444
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• 2023

Purpose - This study applies the traditional Structure-Conduct-Performance (SCP) model from industrial organization theory to investigate the relationship between market structure and performance in China's banking industry. Design/methodology/approach - For analysis, financial data from the People's Bank of China's "China Financial Stability Report" and financial reports of 6 state-owned banks and 11 joint-stock banks for the period 2010 to 2021 were collected to create a balanced panel dataset. The study employs panel fixed-effects regression analysis to assess the impact of changes in market structure and ownership structure on performance variables including return on asset, profitability, costs, and non-performing loan ratios. Findings - Empirical findings highlight significant differences in the effects of market structure between state-owned and joint-stock banks. Notably, increased market competition positively correlates with higher profits for state-owned banks and with lower costs for joint-stock banks. Research implications or Originality - State-owned banks demonstrate larger scale and stability, yet they struggle to respond effectively to market shifts. Conversely, joint-stock banks face challenges in raising profitability against competitive pressures. Additionally, the study emphasizes the importance for Chinese banks to strengthen risk management due to the increase of non-performing loans with competition. The results provide insights into reform policies for Chinese banks regarding the involvement of private sector in the context of market liberalization process in China.

• 한국펄프종이공학회:학술대회논문집
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• 한국펄프종이공학회 2011년도 추계학술발표회 논문집
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• pp.39-41
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• 2011

The recycling rate of recovered paper in Korea is the highest in the world, 92%, but remanufacturing yield is low due to the extremely poor quality of the paper. The poor quality, in turn, influences to the reject amount in deinking process. To increase the yield of old newspaper recycling process, hydrophobic degree of inorganic pigments of deinking stock must be reduced. To determine the hydrophobicity, Pitch Potential Deposit Tester (PDT) was newly designed and applied with respect to the SB latex property of various quality used in Korea; its hydrophobic degree according to Tg, gel content, charge and particle size of latex and optimum designing condition of SB latex. And below are the conclusions: 1. The reason of excessive reject from old newspaper deinking process for total amount of printed ink is loss of inorganic pigments. When lipase, a biochemical catalyst, was applied with the purpose of preventing inorganic pigments loss about more than 70% of total reject weight and promoting hydration of pulp for deinking, deinking process yield of pre flotation secondary stage increased remarkably without any changes of deinking efficiency. 2. Lipase improved deinking stock by cutting ester linkage on surface of hydrophobic materials to promote its hydration. From this, it reached the conclusion that hydration degree of stock exercises significant effect on flotation deinking process yield. 3. Inorganic alkali promotes hydration of deinking stock. But there have been needs for more fundamental measures other than inorganic alkali of promoting hydration for yield improvement. For this, this study intended to find out reasons of chemical properties change on surface of hydrophobic material by change of pH. 4. Pitch Deposit Test (PDT) was performed for understanding principle of why surface of coating flake from OMG is hydrophobic and why it becomes hydrophilic when pH of stock is alkaline. As a result of this test, it is determined that swelling property by change of pH of latex film, which were used as coating adhesive is the reason for hydrophobic change. 5. Hydrophilicity of coating flake increased with hydrophilic pigments. And as more of SB Latex adhesive was used and higher of calcium hardness of stock became, its hydrophilicity decreased. SB Latex adhesive film is reformed by mechanical friction. For having hydrophilicity under neutral pH, strong bruising action such as kneading is required. 6. Because swelling of adhesive film decreases as Tg of SB latex gets lower and mean diameter gets smaller, it shows hydrophobicity under neutral pH. This lowers hydrophilicity of coating flake, which leads to easy elimination with flotation reject on DIP process. Therefore, for improving future flotation yield, it is necessary to develop to use eco-friendly clean SB latex by raising Tg and increasing mean diameter for recycling, and as a result, to reduce excessive loss of coating flake as a reject from deinking process.

• 경영과정보연구
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• 제4권
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• pp.611-629
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• 2000

In the legislation interpretation and fundamental viewpoint about the legal system of insider trading, Japan strictly legislate under the proposition, the principle of 'nulla poena,' adopted 'the principle of limited enumeration,' and United states, under 'the principle of comprehension,' has entrusted courts with establishment of concrete concepts and standard, so the courts are very flexible in determining the range of insiders and the importance of inside information to show a strong will to eradicate insider trading. Korea has a legislative position of 'the principle of limited indication' which has been created by the negotiation between those principles of United states and Japan. Though this court has interpreted insider trading, insider trading using non-disclosed information has increased lately, needing the strengthening of its regulations. However, this shows us that sophisticate the regulations may be, the exposure of insider trading has limitations. The most important thing is to change recognition for transparency of the securities market, security of investors and to establish the atmosphere which is that fair stock trading made in a sound capital market to raise funds for corporation. The policies of improving unfair trading, self-regulation bodies, raising the transparency and legality of procedures of supervision and monitoring and applying 'compliance program' to stock companies are very needed to eliminate unfair trading in the securities market and establish the order of trading.