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Regulatory Sentiment and Economic Performance

  • JUNGWOOK KIM;JINKYEONG KIM
    • KDI Journal of Economic Policy
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    • v.45 no.1
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    • pp.69-86
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    • 2023
  • Regulatory sentiment refers to the market's subjective evaluation of regulatory reform and is one of the most widely adopted indicators to those charged with implementing and diagnosing regulatory policies. The use of regulatory sentiment in advanced analysis has become universal, albeit it is often limited due to difficulties in articulating consistent and objective quantitative indicators that can meticulously reflect market sentiment overall. Thus, despite ample effort by scholars to read the economic impact of regulatory sentiment in the real economy, causal links are difficult to spot. To fill this gap in the literature, this study analyzes a regulatory sentiment index and economic performance indicators through a text analysis approach and by inspecting diverse tones in media articles. Using different stages of tests, the paper identifies a causal relationship between regulatory sentiment and actual economic activities as measured by private consumption, facility investment, construction investment, gross domestic investment, and employment. Additionally, as a result of analyzing one-unit impulse of regulatory perception, the initial impact on economic growth and private investment was found to be negligible; this was followed by a positive (+) response, after which it converged to zero. Construction investment showed a positive (+) response initially, which then rapidly changed to a negative (-) response and then converged to zero. Gross domestic investment as the initial effect was negligible after showing a positive (+) reaction. Unfortunately, the facility investment outcome was found to be insignificant in the impulse response test. Nevertheless, it can be concluded that it is necessary and important to increase the sensitivity to regulations to promote the economic effectiveness of regulatory reforms. Thus, instead of dealing with policies with the vague goal of merely improving regulatory sentiment, using regulatory sentiment as an indicator of major policies could be an effective approach.

China's Policies toward North Korea after the Second North Korean Nuclear Crisis: the Dilemma between Pressure and Inducement (제2차 북핵 위기 이후 중국의 대북 정책: 압박과 유인간의 딜레마)

  • Kang, Taek Goo
    • Journal of International Area Studies (JIAS)
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    • v.13 no.4
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    • pp.3-22
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    • 2010
  • The objective of this paper is to analyze why China's policy toward North Korea after the second North Korean nuclear crisis have plunged into the dilemma between pressure and inducement. This paper stress that dilemma between China's two aims toward North, that is, stability in Korean peninsula and North East Asia, and the denuclearization of the Korean Peninsula that can explain China's inconsistent policies on North Korea. As North Korea publicly revealed the intention of nuclear development and China has played the mediator role for protecting its security, China's two aims toward North have faced the situation of a dilemma. Because China's two aims are directly related with stability in the neighbor that pursuit to perform 'economic development' since 1978, China's two aims toward North would not be changed easily. Therefore, as long as North Korea would not make an effort on denuclearization and China continually would maintain two aims on North, it will be continued a dilemma between China's policies toward North.

Revisiting the Asian Financial Crisis: Is Building Political Ties with Emerging Political Elites Beneficial during a Crisis?

  • Kyung Hwan Yun;Chenguang Hu
    • Journal of Korea Trade
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    • v.26 no.4
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    • pp.63-82
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    • 2022
  • Purpose - Drawing on relational institutional theory, we explored how demographic similarity between board members of a firm and newly emerged political elites led to firms' increased financial resource acquisition such as leverage ratio and decreased export intensity amidst the Asian financial crisis. We also studied how a firm's leverage ratio and export intensity can further affect firm profitability and financial credit rating. Design/methodology - We revisited and explored a unique, unprecedented crisis that affected most Korean firms: the Asian financial crisis that coincided with a governmental shift from a conservative to a liberal party. We collected demographic information from 432 listed Korean firms' board members and 43 political elites of the Blue House from 1998-2000 to create a demographic similarity measurement. We collected firms' financial information, built panel data, and used ordinary least squares regression to test our theory. Findings - Our results showed that demographic similarity between a firm's directors and newly emerged politicians had a positive association with a firm's leverage ratio but a negative association with a firm's export intensity. A firm's leverage ratio had a negative relationship with firm performance measured by firm profitability and financial credit rating. A firm's export intensity showed a positive effect on firm performance. Originality/value - We highlighted that during an economic crisis that coincided with a governmental shift and change of leading political actors, firms exerted efforts to survey the environment and build new external stakeholder relationships to cope with the changing landscape. We proposed that in an emerging market like Korea where low levels of trust and favoritism are prevalent across society, one of the relational institutional strategies that firms can employ is the selection of directors with similar demographic characteristics to political elites based on factors including birthplace and school affiliations. We examined the efforts of firms to build political networks with newly empowered political elites during a financial crisis, and the consequences of establishing such networks. We highlighted that during a financial crisis, the demographic similarity between a firm's board members and newly emerged politicians can provide firms with access to financial resources but can also result in poor management and reduced effort to enhance its international competitiveness.

Design of Iterative Learning Contents and Items Generation System based on SCORM (SCORM 기반 반복 학습 콘텐츠 및 문항 생성 시스템 설계)

  • Baek, Yeong-Tae;Lee, Se-Hoon;Jeong, Jae-Cheul
    • Journal of the Korea Society of Computer and Information
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    • v.14 no.2
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    • pp.201-209
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    • 2009
  • According to previous researches about online evaluation in many e-Learning contents, it took too much time and effort to generate test questions for formative or achievement tests using a database as an item pool. Furthermore, it is hard to measure accomplishment of learners for each unit through overall tests provided by existing e-learning contents. In this paper, to efficiently cope with problems described above, the item pool based on Item Form was transformed into Interaction Date Model in Run-Time Environment of SCORM2004. And the contents for the math concepts and principles that students would learn from regular classroom were developed in accordance with SCORM. In addition, Confidence Factor Function was used to take an objective view in measuring the accomplishment of learners through the items automatically generated by LMS(Learning Management System).

New approach to calculate Weibull parameters and comparison of wind potential of five cities of Pakistan

  • Ahmed Ali Rajput;Muhammad Daniyal;Muhammad Mustaqeem Zahid;Hasan Nafees;Misha Shafi;Zaheer Uddin
    • Advances in Energy Research
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    • v.8 no.2
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    • pp.95-110
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    • 2022
  • Wind energy can be utilized for the generation of electricity, due to significant wind potential at different parts of the world, some countries have already been generating of electricity through wind. Pakistan is still well behind and has not yet made any appreciable effort for the same. The objective of this work was to add some new strategies to calculate Weibull parameters and assess wind energy potential. A new approach calculates Weibull parameters; we also developed an alternate formula to calculate shape parameters instead of the gamma function. We obtained k (shape parameter) and c (scale parameter) for two-parameter Weibull distribution using five statistical methods for five different cities in Pakistan. Maximum likelihood method, Modified Maximum likelihood Method, Method of Moment, Energy Pattern Method, Empirical Method, and have been to calculate and differentiate the values of (shape parameter) k and (scale parameter) c. The performance of these five methods is estimated using the Goodness-of-Fit Test, including root mean square error, mean absolute bias error, mean absolute percentage error, and chi-square error. The daily 10-minute average values of wind speed data (obtained from energydata.info) of different cities of Pakistan for the year 2016 are used to estimate the Weibull parameters. The study finds that Hyderabad city has the largest wind potential than Karachi, Quetta, Lahore, and Peshawar. Hyderabad and Karachi are two possible sites where wind turbines can produce reasonable electricity.

Simple Postoperative Exercise of Acute Achilles Tendon Rupture without Active Range of Motion Exercise (아킬레스건 파열 이후의 능동적인 관절 범위 운동이 없는 간단한 재활 운동 방법)

  • Jae-Kwang Hwang;Youngjoo Jung;Dong-Kyo Seo
    • Journal of Korean Foot and Ankle Society
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    • v.27 no.1
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    • pp.12-16
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    • 2023
  • Purpose: Postoperative exercise for acute Achilles tendon rupture is important for a patient's return to daily life and sports. On the other hand, the protocol requires considerable effort to educate patients and continuous checking. This study evaluated the outcome of a new simple and delayed rehabilitation protocol after Achilles tendon rupture repair. Materials and Methods: From July 2014 to November 2020, one hundred eighty-three patients were operated on by one surgeon. The exercise protocol was classified into two methods. One group (immediate protocol, control group) started immediate full weight bearing with a 20° plantar flexion range of motion from two days postoperatively. Ankle dorsiflexion was restricted to 0°. The other group (delayed protocol, case group) started full weight bearing with a controlled ankle motion boot from two weeks postoperatively. No range of motion exercise was allowed until six weeks postoperatively. Age, sex, body mass index, ankle range of motion, muscle power, time to return to previous physical activity, functional score, and complication rate were evaluated. The results of the two groups were compared using a Mann-Whitney test. Statistical significance was set as p<0.05. Results: The range of motion, double heel rising, and one-leg standing were achieved faster in the control group (p<0.05). However, single-heel rising, repeated single-heel rising, return to previous activity (work, run, and sport), and functional scores showed no statistical difference (p>0.05). Conclusion: Simple and delayed postoperative rehabilitation of acute Achilles tendon rupture without active range of motion exercises showed satisfactory functional results and a low complication rate.

Study on the Relation between Social Value Realization Efforts and Performances of Social Enterprises - Focudsing on Mediating Effect of External Support Environment (사회적기업의 사회적 가치실현노력이 기업성과에 미치는 영향 - 외부지원환경 매개 효과를 중심으로)

  • Cho, Young-Ju;Ra, Youngsoo
    • The Journal of the Korea Contents Association
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    • v.22 no.8
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    • pp.307-317
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    • 2022
  • This study aims to analyze relationship between effect on social value realization efforts and company performances, focusing on the mediating effect of external-support environment. Data for the analysis is collected from open data source from Social Enterprise Promotion Agency. The results of the analysis are, first the social value realization efforts has positive effect on both social and economic outcome of the social enterprises. External-support environment has influence on both social performance and social value realization efforts. Additional analysis to test mediation effect of external-support environment were carried out by statistical software package, Process for SPSS4.0. Mediation effect could be found between social realization efforts and social performances, however, no evidence could be found on economic performance. The result indicates that social value realization efforts as a social capital has influence on social performance mediated by external-support environment.

The Effect of Emotional Certainty on Attitudes in Advertising

  • Bok, Sang Yong;Min, Dongwon
    • Asia Marketing Journal
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    • v.14 no.4
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    • pp.57-75
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    • 2013
  • It is a well-established theory that emotion is influential in cognitive processing. Extensive prior research on emotion has shown that emotional factors, such as affect, mood, and feeling, play as information indicating whether he or she has enough knowledge. Most of their findings focused on the effect of emotional valence (i.g., one's subjective positivity or negativity related with the emotion). Recently, several studies on emotion suggest that there is another dimension of emotion, which affects the type of cognitive processing. The studies argue that emotional certainty facilitates heuristic processing, whereas emotional uncertainty promotes systematic processing. Based on the findings, current study examines the effect of certainty on attitudes and recall. Specifically, the authors investigate the effect of certainty on how much effort individuals use to process advertising information and how certainty affects attitude formation toward the advertised product. The authors also focus on recall to clarify the working mechanism of certainty on attitudes, because recall performance reflects the depth of information processing. Based on previous findings, the authors hypothesize that uncertainty (vs. certainty) leads to more favorable attitudes as well as better recall, and conduct an experiment using a fictitious advertisement with 218 participants. The results confirm the predicted effects of certainty only on attitudes not recall. A possible explanation of this discrepancy between attitudes and recall lies in the measurement method, unaided recall. To rule out this possibility, the authors perform an additional analysis with the participants who recall any correct information of the target advertisement. The results show certainty has a negative effect on both attitudes and recall. A bootstrapping test reveals that recall mediates the effect of certainty on attitudes. This result confirms that certainty decreases elaboration, which in turn leads to less favorable attitudes relative to uncertainty. Additionally, our data shows the association among certainty, recall, and attitudes by showing the indirect effect of certainty on attitudes via recall. This research encourages practitioners in the field to emphasize that they should focus on target audiences' emotional certainty before they provide the persuasive message, by showing that uncertainty promotes effortful processing, which in turn leads to better memory and more favorable attitudes.

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The Education System for Cytotechnologists and Efforts to Improve Professionalism in the United States of America (미국 세포병리사 양성 교육제도와 전문성 향상을 위한 노력)

  • Eun-Suk PARK
    • Korean Journal of Clinical Laboratory Science
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    • v.55 no.3
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    • pp.227-233
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    • 2023
  • The path to becoming a cytotechnologist (also known as a cytologist) in the United States of America (USA) requires a minimum of a bachelor's degree and the completion of a training program certified by the Commission on Accreditation of Allied Health Education Programs. Aspirants are recognized as cytologists after passing a test administered by the American Society for Clinical Pathology Board of Certification on completion of a recognized cytotechnology training program. Cytotechnology training programs are currently provided by 18 universities and hospitals. Six of them provide master's level education, unifying existing programs to the master's level, which is necessitated due to a shortage of pathologists and the rapid development of the health care system. The improvement and unification of the curriculum, qualification renewal system, and the effort to change the title of qualified personnel from cytotechnologist to cytologist are seen as measures that would strengthen the capabilities of cytotechnologists as well as assist in keeping pace with the rapidly changing medical system. Knowledge about the educational courses available for cytotechnologists and the efforts to strengthen their expertise in the USA would be helpful to professors who guide students preparing for overseas employment and seeking professional improvement in Korea.

Factors Influencing Infection Control Performance by Children's Hospital Nurses Infection Control Organizational Culture and Infection Prevention Environment (아동병원 간호사의 감염관리조직문화, 감염예방환경이 감염관리 수행에 미치는 영향)

  • Hyun-Mi Yang
    • Journal of the Korean Society of Industry Convergence
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    • v.27 no.3
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    • pp.675-684
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    • 2024
  • The purpose of the study is to determine the relationship between the infection control organizational culture, infection prevention environment, and infection control performance of nurses at a children's hospital and to identify factors affecting infection control performance. The subjects of the study were 160 nurses from five children's hospitals, and data collection was conducted from February 19 to 29, 2024. Data analysis was performed using frequency, percentage, mean, standard deviation, and difference analysis of variables using t-test, ANOVA, Pearson's correlation analysis, and multiple regression analysis. As a result of the study, infection control performance was positively correlated with infection control organizational culture (r= .610, p< .001) and infection prevention environment (r= .586, p< .001), and as a result of multiple regression analysis, infection control organization The influencing factors appeared in the following order: culture (β= .369), infection prevention environment (β= .312), medical institution accreditation evaluation experience (β= .165), and infection control education experience (β= .137), and the overall explanatory power was It was 50.8% (F=41.966, p< .001). Based on the results of this study, to carry out infection control in children's hospitals, integrated management including the will and effort of individual nurses, support and policy from medical institutions and the government is needed, and the development of an infection control education program that takes into account the special characteristics of children's hospital nurses. Application is necessary.