• KDI Journal of Economic Policy
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• v.40 no.4
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• pp.1-22
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• 2018

We estimate three continuous-time stochastic volatility models following the approach by Aït-Sahalia and Kimmel (2007) to compare the Korean and US stock markets. To do this, the Heston, GARCH, and CEV models are applied to the KOSPI 200 and S&P 500 Index. For the latent volatility variable, we generate and use the integrated volatility proxy using the implied volatility of short-dated at-the-money option prices. We conduct MLE in order to estimate the parameters of the stochastic volatility models. To do this we need the transition probability density function (TPDF), but the true TPDF is not available for any of the models in this paper. Therefore, the TPDFs are approximated using the irreducible method introduced in Aït-Sahalia (2008). Among three stochastic volatility models, the Heston model and the CEV model are found to be best for the Korean and US stock markets, respectively. There exist relatively strong leverage effects in both countries. Despite the fact that the long-run mean level of the integrated volatility proxy (IV) was not statistically significant in either market, the speeds of the mean reversion parameters are statistically significant and meaningful in both markets. The IV is found to return to its long-run mean value more rapidly in Korea than in the US. All parameters related to the volatility function of the IV are statistically significant. Although the volatility of the IV is more elastic in the US stock market, the volatility itself is greater in Korea than in the US over the range of the observed IV.

• Journal of Distribution Science
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• v.19 no.11
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• pp.69-80
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• 2021

Purpose: Consumers have unique behaviors that are classified based on their interests and considerations before buying. They are predicted will change due to the pandemic of COVID-19. This study provides insights for retailers about the dynamic of consumer behavior before and during the pandemic, including future predictions. Research design, data and methodology: The Preferred Reporting Items for Systematic Review and Meta-Analysis (PRISMA) statement was applied in this study. Seven studies that were selected from five databases meet the criteria for cohort and cross-sectional analyses of gender, age, store types, and environmental concerns. Results: Consumer's gender and age contribute to consumer behavior change. Both offline and online stores can be integrated as omnichannel rather than substitute each other. Product distribution and consumer budget need to be reevaluated by retailers, while internet security is the most essential factor when developing their online transactions. Conclusions: COVID-19 pandemic has a significant impact on changing consumer behavior in most countries. Retailers are encouraged to adapt to the changes by modifying their business model with technology. However, it is still speculated and cannot be generalized due to different cultural and contextual factors. Future studies are always needed to synchronize along with the transition of consumers' behavior.

• Progress in Medical Physics
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• v.31 no.3
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• pp.124-134
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• 2020

Here we review the evolutionary history of radiation therapy technology through the festschrift of articles in celebration of the 30th anniversary of Korean Society of Medical Physics (KSMP). Radiation therapy technology used in clinical practice has evolved over a long period of time. Various areas of science, such as medical physics, mechanical engineering, and computer engineering, have contributed to the continual development of new devices and techniques. The scope of this review was restricted to two areas; i.e., output energy production and functional development, because it is not possible to include all development processes of this technology due to space limitations. The former includes the technological transition process from the initial technique applied to the first model to the latest technique currently used in a variety of machines. The latter has had a direct effect on treatment outcomes and safety, which changed the paradigm of radiation therapy, leading to new guidelines on dose prescriptions, innovation of dose verification tools, new measurement methods and calculation systems for radiation doses, changes in the criteria for errors, and medical law changes in all countries. Various complex developments are covered in this review. To the best of our knowledge, there have been few reviews on this topic and we consider it very meaningful to provide a review in the festschrift in celebration of the 30th anniversary of the KSMP.

• The Research Journal of the Costume Culture
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• v.29 no.3
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• pp.406-421
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• 2021

During the COVID-19 pandemic, the obligatory wearing of masks has led to increased consumer demand and the diversification of mask design. Accordingly, it is necessary to understand the inner meaning and characteristics of masks in the pandemic situation. Therefore, the purpose of this research is to analyze the characteristics of fashionable masks and their new cultural meaning under the COVID-19 pandemic. This research is based on literature review and empirical research. Drawing on an investigation of the historical evolution of masks and their transition under the pandemic (exhibiting differences in mask culture among countries and regions), this study analyzed 54 distinctive fashion masks designed by fashion brands and influencers that appeared from January 2020 to January 2021. The characteristics of fashion masks identified under the influence of the pandemic are as follows: Message delivery on political issues and human rights; psychological defense and expression of individuality; and conspicuous display via luxurious materials and luxury brand logos; moreover, the design of the mask uses the same material, color, pattern, decoration, and other methods as clothing to achieve the overall style. Over the course of the pandemic (and even in post-pandemic lifestyle), fashion masks are becoming more diversified conveying new social and cultural meanings.

• East Asian Economic Review
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• v.24 no.4
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• pp.313-336
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• 2020

In this paper, I review evidence on changing global specialization in labor-intensive exporting. Production of apparel, footwear, furniture, and related products are how many low-income countries first enter export manufacturing. Just as China's rise as a powerhouse in these goods supplanted a role previously occupied by the East Asian Tigers, the world may again be on the cusp of significant change in where labor-intensive goods are produced. China's prowess in these sectors peaked in the early 2010s; its share in their global exports, while still substantial, is now in decline. Mechanisms through which the global economy may adjust to China's graduation into more technologically sophisticated activities include expanded labor-intensive export production in other emerging economies and labor-saving technological change in products currently heavily reliant on less-educated labor. Available evidence suggests that the first mechanism is operating slowly and the second hardly at all. As a third mechanism, China may in part replace itself by moving labor-heavy factories out of densely populated and expensive coastal cities and into the country's interior. Such a transition, though still in its infancy, would mirror the decentralization of manufacturing production in the U.S. and Europe, which occurred after World War II.

• Journal of Distribution Science
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• v.20 no.7
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• pp.47-56
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• 2022

Purpose: As the need to transition into the distribution of cleaner energy has garnered corporate and scholarly interests, this study aims to track the research trends in sustainable energy supply chains for five years before 2021. Research methodology: This study was conducted by a bibliometric literature review and analysis to map the field's evolution between 2016 and 2020. Out of an initial title search result of 2,484 papers from the Scopus engine, filtering led to 180 documents obtained. The data was exported in excel format (CSV) to VOSviewer software to generate and analyze network visualization of sustainable energy supply chain trends. Results: The results revealed China's the highest publishing country, with 36 research papers. The Journal of Cleaner Production was the top publishing source, with 22 papers per year. These findings showed five clusters formed in the bibliographic coupling of countries. Circular Economy and Green Supply Chain Management represent the current hot topics. Research gaps identified in the field included limited cross-industry testing and modifying sustainable supply chain models. Conclusion: This paper contributes to the sustainability literature on supply chains by providing an overview of trends and research directions for scholars' and practitioners' consideration in future research.

• The Journal of Fisheries Business Administration
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• v.51 no.4
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• pp.47-67
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• 2020

I explore that South Korea's major import fishery product markets-frozen hairtail, frozen mackerel, frozen pollock and frozen squid-are integrated by testing whether there is favorable evidence of the law of one price (LOP). Unlike previous studies on the LOP for fishery product markets, I assume non-zero import costs and include them in a trade model. To explore whether LOP holds for major import fishery product markets in South Korea with non-zero import costs, I utilize a non-linear time-series model, Smooth Transition Autoregressive (STAR) model with the sample periods from January in 2002 to December in 2019. I find that the behaviors of home-foreign price (i.e., import price) differentials of all four major import fishery products are non-linear depending on whether trade occurs and favorable evidence of LOP for each import market in South Korea. These findings indicate that each of South Korea's major import fishery product markets is integrated. They imply that the supply of each major import fishery product-frozen hairtail, frozen pollock, frozen mackerel and frozen squid, and their prices are stable even if there is an economic shock on each market. When it comes to trade policy implications, the Korean trade policy including tariffs or quotas against their import countries for the four major import fishery products may not have influences on their price in the markets.

• Research in Community and Public Health Nursing
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• v.33 no.2
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• pp.188-195
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• 2022

Purpose: With the first generation of marriage-based immigrant women in East Asia now reaching their middle or old age, the need to focus investigations on their health-related quality of life has arisen. This study aimed to examine the extent to which physical and mental health, and psychosocial variables can predict health-related quality of life among Japanese middle-aged immigrant women. Methods: This study has a descriptive cross-sectional design. A convenience sample of 197 Japanese middle-aged marriage-based immigrant women from two regions of South Korea were recruited between December 2017 and March 2018. Participants completed self-administered questionnaires on health-related quality of life, menopausal symptoms, depression, perceived health status, disease morbidity, social support, and acculturation. The data were analyzed using hierarchical multiple regression. Results: Depression was the strongest predictor of health-related quality of life, followed by perceived health status, social support, and household income. Menopausal symptoms, presence of disease, and acculturation appeared to have no additional impact on participant's health-related quality of life. Conclusion: In times of rapid growth of global migration and the aging of immigrants in new destination countries, nursing interventions and public health policies for aging marriage-based immigrant women should be prioritized to improve their mental health by facilitating social support and disease management. In addition, social and employment policies that can help immigrant women transition to a healthy midlife are needed.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.3
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• pp.389-397
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• 2022

As the Jordanian government is in the process of implementing accrual-based IPSAS, this study aims to provide academics' perspectives on the effective implementation of accrual-based IPSAS in Jordan to authorities and regulators. The findings of a survey of 124 accounting professors at Jordanian institutions reveal that adopting accrual-based IPSAS will aid in presenting the realistic financial status of governmental bodies, with various advantages to adopting accrual-based IPSAS (e.g., enhance assets and liabilities management, decision-making process, transparency, expenditures management). On the other side, we discovered that change is met with reluctance because the majority of public-sector accountants are untrained and unqualified to apply the accrual-based IPSAS. Another main challenge is the cost of implementing the accrual-based IPSAS in the Jordanian public sector is very high. To address these issues, employees should be motivated by providing suitable training programs, reward systems, and top management support and commitment to a successful transition. Finally, we suggested that Jordanian governments commit to using IPSAS in the public sector to increase residents' socioeconomic advantages. Public sectors should implement IPSASs for improved management, transparency in financial reporting, accountability, and regulatory and supervisory agencies.

• Journal of the Korean Society of Food Culture
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• v.23 no.3
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• pp.308-317
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• 2008

Throughout history, tableware has attained an important position in human culture, and historical eras are clearly reflected in the shape of tableware items, which are tied to the cultural background of foods. In particular, the distinctive qualities of foods within a food-culture, such as the means for cooking, storing, or eating, have impacted the usage and shape of tableware along with the food behaviors of individuals. Korea, China, and Japan have all played important roles in producing limitless amounts of high quality porcelain products and take pride in being leaders of the world's porcelain production industry. Based on their natural geographical proximity and political and cultural exchanges, these three countries have long influenced one another not only in terms of technical concepts but also in improving quality within the tableware industry. Thus, by comparing Korea, China, and Japan's evolutionary interdependable variance with regard to their tableware, food-culture, and food-behavior, one can provide information on the historical stream and cultural exchanges relevant to china and porcelain. Ultimately, through the examination of tableware, the conclusions of this conceptual study offer researchers a deeper understanding of the historical stance of food-culture and contribute new and useful information for the future.