• Environmental and Resource Economics Review
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• v.14 no.2
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• pp.447-474
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• 2005

Respondents, in the willingness to pay (WTP) survey, may have preference intensity about their stated WTP values. This study elicited a post-decisional intensity measure for each observed WTP answer for gathering information on the degree of preference intensity. In order to deal with the WTP data with preference intensity, this paper considers using the Type 3 Tobit model. This is usually estimated by the parametric two-stage estimation method assuming homoskedastic and bivariate normal error structure. However, if the assumptions are not satisfied, the estimates are inconsistent. The author has tested the hypotheses of homoskedasticity and normality, and could not accept them at the 1% level. The assumptions required to estimate the parametric Type 3 model are, therefore, too strong to be satisfied. As an alternative the parametric model, this study applies a semiparametric Type 3 Tobit model. The results show that the semiparametric model significantly outperforms the parametric model, and that more importantly, the mean WTP from the parametric model is significantly different from that from the semiparametric model.

• Journal of Distribution Science
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• v.17 no.9
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• pp.117-125
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• 2019

Purpose - We investigate how to increase consumer incentives to buy public offering funds, resulting in activating the public offering fund market. In particular, this study aims to find ways to expand diversity and to improve efficiency of public offering fund. The public fund market of Korea has been stagnant in recent years. However, the public offering fund market plays a very significant role in terms of consumer welfare. Since only a few wealthy investors can participate in the private equity market, the stagnation in the public offering fund market usually reduces the opportunity of consumer's buying funds thus ultimately affecting their future wealth. Research design, data, and methodology - To attain our purpose, the 'factor-based portfolio strategy' has been considered. It is an alternative portfolio strategy, which composites the advantages of the passive management and active management. For our empirical anaylsis, we used global stock distribution market data over the period of 1991 and 2016. Then we constructed portfolios based on firm-size, firm-value, and momentum. Finally, a regression model was set, then hypotheses were tested, analyzing the performances. Results - First, among the 15 factor-based portfolios of global, Europe, Asia-Pacific(ex Japan), US and Japan, in eight portfolios, positive excess returns are observed at 5% significance level. Further, there is another portfolio with positive excess return at 10% significance level. Second, most of the portfolios with significant excess performance show positive relationship with the market portfolio. However, the firm-value based portfolio in Asia-Pacific region shows no relationship, and the firm-value based portfolio in US shows negative relationship. Third, we confirmed that the two firm-value factor portfolios in Asia-Pacific region and US, not having positive relationship with market portfolio, provide significant excess returns. Conclusions - In this paper, we provide empirical evidences supporting that the factor-based portfolios expand the diversity of funds and improve the efficiency of investment performance. However, there is no guarantee that the efficiency will continue in the future. In addition, various constraints and costs must be considered. Nevertheless, our novel findings in the advanced financial market such as US and Asia-Pacific are very interesting and offers important implications.

• Journal of the Architectural Institute of Korea Planning & Design
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• v.34 no.9
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• pp.129-140
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• 2018

The purpose of this study was to reconsider existing hypotheses on the orinination and changes of changbang-anchogongs and their types and suggest an alternative hypothesis. The earliest changbang-anchogongs in $17^{th}$ century is presumed to originate as imitations of chungbang ppaelmoks for ornamental and reinforcing parts for changbangs. They were framed whole sides of buildings equally, and were used in small numbers of extant royal buildings and Buddhist halls. From late $17^{th}$ century, enlarged dragon shape changbang-anchogongs applied to Buddhist halls maily to decorate and strengthen front side of buildings. As a result of exchange between changbang-anchogongs and Ikgong type brackets, combined changbang-anchogongs in Buddhist halls were invented for stronger connection with upper bracketing units and have been spread during $18^{th}$ century. Danpyeongbang anchogongs were originated by the connection between short pieces of pyeongbangs and early type of anchogongs similar to ppaelmoks. They belong to minority subtype, but were drawn in illustrations by mistake, as parts of main halls of royal palaces from $19^{th}$ century, because of painter's confusion about new techniques for changbang-anchogongs. Combined changbang-anchogongs for royal buildings were presumed to be invented in 1790s by stimulation from a Buddhist hall related to royal tomb. However, unlike Buddhist precedence, they were used to reinforce and decorate whole sides, even corners, of buildings, and their frameworks and shapes were imported from Daeryang-anchogongs at flanks of ritual halls in royal tombs and royal shrines from $17^{th}$ century.

• The Journal of the Korea Contents Association
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• v.22 no.1
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• pp.224-239
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• 2022

Despite an impressive growth of online sales, the bricks-and-mortar bandwagon still remain high-profile in the realm of consumer channel switching behavior. Different from the existing research exploring the consumer switching behavior from the offline to the online retailer, this study is an effort to investigate why and when do consumers switch from the online to the offline channel by applying the push-pull-mooring framework. Thus, structural equation modeling and SPSS were used to test the established hypotheses. The results, as expected, show that both push factors (i.e., perceived risk and dissatisfaction) and pull factors (alternative attractiveness and perceived ownership) are positively related to a consumer's intention to switch from the online to the offline channel. Moreover, all of expected interactions between push factors and mooring factors (i.e., switching costs, variety seeking, and subjective norms), and between pull factors and mooring factors are supported, except for the interactions between push factors and switching costs as well as between pull factors and subjective norms. Finally, implications and limitations are discussed.

• Journal of Physiology & Pathology in Korean Medicine
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• v.36 no.5
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• pp.155-162
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• 2022

Even after testing negative for COVID-19, some patients continue to struggle with a variety of symptoms such as fatigue, shortness of breath, gastrointestinal problems and neurological problems. The World Health Organization (WHO) defined long COVID (Post COVID-19 conditions) as "A disease occurs in individuals with a history of probable or confirmed SARS-CoV-2 infection, usually 3 months from the onset of COVID-19 with symptoms that last for at least 2 months, that cannot be explained by an alternative diagnosis." As a possible pathological mechanism of long COVID, three hypotheses are proposed: the persistence of the infectious state due to the residual virus, the persistent inflammatory response, and the autoimmune response. The main symptoms of long COVID are shortness of breath (dyspnea), abdominal pain and dyspepsia, fatigue, cognitive problems (brain fog), anosmia and dysgeusia, and chest pain, palpitations and tachycardia. In the Chinese guidelines, COVID-19 patients were divided into mild, moderate, severe, and recovery, and prescriptions with effective therapeutic effects were summarized to encourage combined treatment of chinese and western medicine. Globally, only symptomatic therapy is recommended for long COVID, but a specific treatment has not yet been proposed. Recently, morbidity code for post COVID-19 conditions was created, and it is planned to announce guidelines for long COVID treatment and management in the first half of 2023. In line with this trend, the Korean medical community needs to make efforts to prepare treatment guidelines for patients with long COVID.

• Korean Journal of Social Welfare
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• v.57 no.3
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• pp.51-72
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• 2005

The purpose of this article is to empirically testify three hypotheses on the relation between married women's employment and the allocation of unpaid domestic work within households - i.e., adaptive partnership (AP), dual burden (DB) and lagged adaptation (LA) models. The AP hypothesis assumes that, when wives are employed, husbands spend more time doing housework in order to compensate for their wives' increased responsibility. The DB model, by contrast, indicates that, even if married women are employed, their burden on domestic work does not decrease. In this case, therefore, the dual burden of married women can be expected. Between these two opposite views, the third, alternative hypothesis has been suggested recently. The LA model argues that the behaviours of households are adaptive to the changing environments but over a period of many years and even across generations. The article has analysed the total work time as well as unpaid domestic work time to testify these three hypotheses, utilising 1999 Time Use Survey data of the National Statistical Office. The research results can be summarised as follows. First, married working women worked 100 minutes more than their male spouses. Second, the average domestic work time of married men, 23-25 minutes per day, was no more than 5-10% of that of women. Third, the effects of age and women's employment were not statistically significant in multiple regression models, which means that the DB hypothesis explains the situation of married working women in Korea. Based on these findings, the article suggested the expansion of the public social service system to mitigate the dual burden of married working women, the introduction of compensatory credit for caring work, and the directions of further empirical research using the time use survey data.

• Journal of Korean Academy of Nursing
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• v.20 no.2
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• pp.227-248
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• 1990

The study was conceived in relation to a concern over the growing gap between the needs of chronic patients and the availability of care from the current health care system in Korea. Patients with agonizing chronic pain, discomfort, despair and disability are left with helplessly unprepared families with little help from the acute care oriented health care system after discharge from hospital. There is a great need for the development of an alternative means of quality care that is economically feasible and culturally adaptible to our society. Thus, the study was designed to demonstrate the effectiveness of home heath care as an alternative to bridge the existing gap between the patients' needs and the current practice of health care. The study specifically purports to test the effects of home care on health expenditure, readmission, job retention, compliance to health care regime, general conditions, complications, and self-care knowledge and practices. The study was guided by the operations research method advocated by the Primary Health Care Operations Research Institute(PRICOR) which constitutes 3 stages of research : namely, problem analysis solution development, and solution validation. The first step in the operations research was field preparation to develop the necessary consensus and cooperation. This was done through the formation of a consulting body at the hospital and a steering committee among the researchers. For the stage of problem analysis, the Annual Report of Seoul National University Hospital and the patients records for last 5 years were reviewed and selective patient interviews were conducted to find out the magnitude of chronic health problems and areas of unmect health care needs to finally decide on the kinds of health problems to study. On the basis of problem analysis, the solution development stage was devoted to home care program development asa solution alternative. Assessment tools, teaching guidelines and care protocols were developed and tested for their validity. The final stage was the stage of experimentation and evaluation. Patients with liver diseases, hemiplegic and diabetic conditions were selected as study samples. Discharge evaluation, follow up home care, measurement and evaluation were carried out according to the protocols of care and measurement plan for each patient for the period of 6 months after discharge. The study was carried out for the period from Jan. 1987 to Dec. 1989. The following are the results of the study presented according to the hypotheses set forth for the study ; 1. Total expenditures for the period of study were not reduced for the experimental group, however, since the cost per hospital visit is about 4 times as great as the cost per home visit, the effect of cost saving by home care will become a reality as home care replaces part of the hospital visits. 2. The effect on the rate of readmission and job retention was found to be statistically nonsignificant though the number of readmission was less among the experimental group receiving home care. 3. The effect on compliance to the health care regime was found to be statistically significant at the 5% level for hepatopathic and diabetic patients. 4. Education on diet, rest and excise, and medication through home care had an effect on improved liver function test scores, prevention of complications and self - care knowledge in hepatopathic patients at a statistically significant level. 5. In hemiplegic patient, home care had an effect on increased grasping power at a significant level. However. there was no significant difference between the experimental and control groups in the level of compliane, prevention of complications or in self-care practices. 6. In diabetic patients, there was no difference between the experimental and control groups in scores of laboratory tests, appearance of complications, and self-care knowledge or self -care practices. The above findings indicate that a home care program instituted for such short term as 6 months period could not totally demonstrate its effectiveness at a statistically significant level by quantitative analysis however, what was shown in part in this analysis, and in the continuous consultation sought by those who had been in the experimental group, is that home health care has a great potential in retarding or preventing pathological progress, facilitating rehabilitative and productive life, and improving quality of life by adding comfort, confidence and strength to patients and their families. For the further studies of this kind with chronic patients it is recommended that a sample of newly diagnosed patients be followed up for a longer period of time with more frequent observations to demonstrate a more dear- cut picture of the effectiveness of home care.

• Journal of Distribution Research
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• v.16 no.4
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• pp.29-64
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• 2011

Overview of Research: Product availability is one of important competences of store to fulfill consumer needs. If stock-outs which means a product what consumer wants to buy is not available occurs, consumer will face decision-making uncertainty that leads to consumer's negative responses such as consumer dissatisfaction on store. Stockouts was much studied in the field of academia as well as practice in other countries. However, stock-outs has not been researched at all in Marketing and/or Distribution area in Korea. The main objectives of this study are to find out determinants of consumer responses such as Substitute, Delay, and Leave(SDL) when consumer encounters out-of-stock situation and then to examine the effects of these factors on consumer responses. Specifically, this study focuses on situational characteristics(e.g., purchase urgency and surprise), store characteristics (e.g., product assortment and store convenience), and consumer characteristics (e.g., brand loyalty and store loyalty). Then, this study empirically investigates relationships these factors with consumers behaviors such as product substitution, purchase delay, and store switching.