• 한국정보시스템학회지:정보시스템연구
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• 제18권3호
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• pp.351-373
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• 2009

An index fund is a collective investment scheme that aims to replicate the movements of an index of a specific financial market regardless of market conditions. An index fund is a popular investment alternative because it is much cheaper to run than an active fund and it performs better than actively managed funds. This paper illustrates the usefulness of wavelet analysis in constructing an index fund. The wavelet analysis can decompose the time series data in frequency domain as well as in time domain. The major findings of this paper are as follows. First, the beta coefficient that represents the systematic risk has the scale dependent property. This result can provide important information to the investors with various investment time frequency. Investors can use the betas corresponding to their investment frequencies among the various scale betas estimated by wavelet analysis. Second, we can find the usefulness of wavelet analysis in constructing index fund because the wavelet technique gives less tracking error(difference between the index performance and the index fund performance) than the traditional constructing techniques. The result of this study implies that the wavelet techniques can be an important analytic method to the other financial markets such as option market, futures market, bond markets and currency market.

• Journal of applied mathematics & informatics
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• 제6권2호
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• pp.539-552
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• 1999

An order-level inventory model for a perishable product with a time-dependent demand is developed for a fixed planning pe-riod allowing backlogging in all cycles within the said period. The market demand is assumed to decrease exponentially as time elapses. The average system cost is derived and its optimization procedure is illustrated with a numerical example. Sensitivity of the optimal so-lution to changes in the values of different parameters of the system is also analysed.

• 한국인구학
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• 제20권2호
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• pp.43-66
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• 1997

이 논문은 미국 노동시장의 재취업과정을 사건사의 실업자료를 이용하여 분석하였다. 재취업과정은 실업기간에 따라 변화하는 재취업률의 변화로 파악하였다. 분석에서는 이중노동 시장의 구조적 특성이 재취업과정에 미치는 영향을 살펴보았다. 이차노동시장은 경쟁시장이다. 경쟁시장에서 사람들은 더 나은 직장을 찾기 위해 직장을 그만두기 때문에 자발적 실업이 발생한다. 직장탐색이론에 의하면 자발적 실업에서 사람들은 실업기간이 경과하면서 자신의 의중임금을 떨어뜨림으로써 재취업률을 높이고자 한다. 이에 반하여, 일차노동시장은 장기간 고용관계로 이루어진, 경쟁적 성격이 약한 노동시장이다. 장기적 고용관계에서 실업은 경기가 좋지 않은 시기에 일시해고에 의해 비자발적으로 발생한다. 계약이론에 의하면 일시해고를 당한 사람은 원래의 직장에서 다시 부를 때까지 기다리기 때문에 재취업률은 실업기간에 관계없이 일정하다. 실증분석의 결과는 재취업과정이 이중노동시장에 의해 영향을 받는다는 사실을 보여주고 있다. 즉 일차노동시장에서 사람들은 실업을 당했을 경우, 기업에서 다시 부르기를 기다리는 성향이 강하게 나타났다. 한편 이차노동시장에서 실업을 당한 사람들의 경우, 새로운 직장을 찾는 경향이 높았다. 그러나 실업기간에 따른 재취업률의 변화는 직장탐색이론이 예측하는 수준보다 낮게 나타났다.

• 기술혁신연구
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• 제10권2호
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• pp.107-129
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• 2002

Expansion and enhancement of information and communication infrastructure can create a market closer to an ideal type for a perfect competition, utilizing a cyber space in the network (with the expanded usage of Internet and e-commerce) and it could be a market of a monopolistic form. The government can take one of the two approaches responding to this monopolization of the digital market. First, the government maintains laissez-faire policy since the monopoly cannot be maintained over a long period of time due to an increasing in the production, decrease in the price, profit resulting from this and rapid technology evolution. Second, the government can actively interrupt the monopolization of the digital market. Monopolization in a digital market can lead to a market failure. Unstable market structure and too much frequent merger and acquisition contribute to making the digital market very dynamic. Information goods exchanged in the digital market have the features of very low marginal cost required to copy the original product whereas its initial fixed cost is very high. This explains why the information products are not priced based on the existing marginal price determination principles and why companies producing them have various product sales strategies (price/product differentiation strategy, and other sales strategies).

• 국제학술발표논문집
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• The 6th International Conference on Construction Engineering and Project Management
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• pp.463-467
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• 2015

Mega-shock means a sporadic event such as the earning shock, which occurred by sudden market changes, and it can cause serious problems of profit loss of international construction projects. Therefore, the early response and prevention by analyzing and predicting the Mega-shock is critical for successful project delivery. This research is preliminary study to develop a prediction model that supports market condition analysis and Mega-shock forecasting. To avoid disadvantages of classic statistical approaches that assume the market factors are linear and independent and thus have limitations to explain complex interrelationship among a range of international market factors, the research team explored the Fractal Theory that can explain self-similarity and recursiveness of construction market changes. The research first found out correlation of the major market factors by statistically analyzing time-series data. The research then conducted a base of the Fractal analysis to distinguish features of fractal from data. The outcome will have potential to contribute to building up a foundation of the early shock warning system for the strategic international project management.

• 대한산업공학회지
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• 제22권2호
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• pp.189-207
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• 1996

In this paper, a market share competition model for two firms with asymmetric conditions is considered with. In the model, the asymmetry between two firms is given by the difference of market shares In the existing market and the change of market share is supposed to be occurred only through pioneering a new market. Since the timing decision of market pioneering is based on the continuous time domain, a super game structure which has infinitely many numbers of subgames is employed for the modeling. In the course of equilibrium finding, we show that there exists no subgame-perfect pure strategy equilibrium In this game. So, we apply a mixed strategy concept and find a unique subgame-perfect equilibrium behavior strategy. As a result of equilibrium analysis, we know that the relative sizes of pioneering Incentives between two firms are varying with parameter conditions. However, the global speed of market pioneering is proven to be independent with the level of asymmetry between two firms.

• 건축역사연구
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• 제24권2호
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• pp.17-26
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• 2015

The aim of this study is to investigate the conversion of Dongnaebu Gaeksa block to public market during Japan's Colonial Period. The block of Gaeksa was converted into the elementary school for the first time and afterwards occupied by the public market. Dongnae Traditional Market(五日場) had kept up since late 18th century. Dongnae public market was transferred to the site of Dongnaebu Gaeksa in 1937. Especially Dongnae public market(東萊公設市場) in the construction cost of establishment was supplied on loan. A number of traditional markets were reformed into the public markets in the 1930s. and the public market was installed more by the organization of colonial period. Dongnae public market was one of those markets, too. Eventually the establishment of public market meant that the block of Gaeksa had disappeared completely.

• The Journal of Asian Finance, Economics and Business
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• 제7권10호
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• pp.63-71
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• 2020

In this paper, we propose the new time-varying coefficient GARCH-in-Mean model. The benefit of our model is to allow the risk-return parameter in the mean equation to vary over time. At the end of 2019 to the beginning of 2020, the world witnessed two shocking events: COVID-19 pandemic and 2020 oil price war. So, we decide to use the daily data from December 2, 2019 to May 29, 2020, which cover these two major events. The purpose of this study is to find the dynamic movement between risk and return in four major oil markets: Brent, West Texas Intermediate, Dubai, and Singapore Exchange, during COVID-19 pandemic and 2020 oil price war. For the European oil market, our model found a significant and positive risk-return relationship in Brent during March 26-April 21, 2020. For the North America oil market, our model found a significant positive risk return relationship in West Texas Intermediate (WTI) during March 12-May 8, 2020. For the Middle East oil market, we found a significant and positive risk-return relationship in Dubai during March 12-April 14, 2020. Lastly, for the South East Asia oil market, we found a significant positive risk return relationship in Singapore Exchange (SGX) from March 9-May 29, 2020.

• 산업경영시스템학회지
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• 제36권4호
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• pp.123-129
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• 2013

The aim of this study is to design an intelligent pattern-based real-time trading system (PRTS) using rough set analysis of technical indicators, dynamic time warping (DTW), and genetic algorithm in stock futures market. Rough set is well known as a data-mining tool for extracting trading rules from huge data sets such as real-time data sets, and a technical indicator is used for the construction of the data sets. To measure similarity of patterns, DTW is used over a given period. Through an empirical study, we identify the ideal performances that were profitable in various market conditions.

• 한국벤처창업학회:학술대회논문집
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• 한국벤처창업학회 2018년도 춘계학술대회
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• pp.187-190
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• 2018

The study examines the effects of the regulation on cryptocurrency market, investigating a case in South Korea. As South Korea has one of the largest market share of the cryptocurrency market for the time being, its regulation in South Korea affected the entire markets around the World. This research in progress will use the method of difference-in-differences to assess the effects of regulation to the market. The findings indicate that there is a significant reduction of the Bitcoin price and the price volatility was significantly reduced by about 58% after the regulation of the cryptocurrency market. More so the trading activity indicates a huge decline after regulation was implemented.