• The Korean Journal of Financial Management
• /
• v.27 no.2
• /
• pp.169-204
• /
• 2010

This paper examines the dynamic relationship between fund flow and market risk at the aggregate level and explores whether sudden sharp changes in fund flow (fund run) can cause a systemic risk in the Korean financial markets. We use daily and weekly data and regression and VAR analysis. Main results of the paper are as follows: First, in the stock market, a concurrent and a lagged unexpected fund flows have a positive relationship with market volatility. A positive shock in fund flow predicts an increase in stock market volatility. In the bond market, an unexpected fund flow has a negative relationship with the default risk premium, but a positive relationship with the term premium. And an unexpected fund flow of the money market fund has a negative relationship with the liquidy risk, but the explanatory power is very low. Second, for examining whether changes in fund flow induce a systemic risk, we construct a spillover index based on the forecast error variance decomposition of VAR model. A spillover index represents that how much the shock in fund flow can explain the change of market risk in a market. In general, explanatory powers from spillover indexes are so fluctuant and low. In the stock market, the impact of shocks in fund flow on market risk is relatively high and persistent during the period from the end of 2007 to 2008, which is the subprime-mortgage crisis period. In bond market, since the end of 2008, the impact of shocks in fund flow spreads to default risk continually, while in the money market, such a systematic effect doesn't take place. The persistent patterns of spillover effect appearing around a certain period in the stock market and the bond market suggest that the shock to the unexpected fund flow may increase the market risk and can be a cause of systemic risk in the financial markets. However, summarizing the results of regression and VAR model analysis, and considering the very low explanatory power of spillover index analysis, we can conclude that changes in fund flow have a very limited power in explaining changes in market risk and it is not very likely to induce the systemic risk by a fund run in the Korean financial markets.

• Korean Journal of Health Education and Promotion
• /
• v.18 no.3
• /
• pp.37-58
• /
• 2001

This study placed its objectives in suggesting the basic data for setting up an approach to protect the educational environment, by analyzing the relevance between the misconducts of adolescence and the harmful environment around the school, as an object of study, middle school students and high school students all over the country. Thus, this study carried out the questionnaire survey, by the multi-stage of stratified sampling in 2,114 middle school and high school students from June 29, 2000 through July 29, 2000. And the results of analysis were as follows: 1. In case of the ratio of students using harmful environment, the electronic game room had the highest ratio (78.3％); next, the PC room (75.6％), the singing room (71.6％), and the cartoon room (34.3％). 2. In terms of the experiences of using the harmful environment according to the personal characteristics, high school students used it in a higher ratio, compared with middle school students (p〈0.001); the students, whose father graduated from a high school, comparatively used it much more(p〈0.05). Also, when a school is located near to amusement quarters or shopping centers, students used the harmful environment most highly (p〈0.001). And the differences were found to be statistically significant. 3. In case of the perceived susceptibility factors, the harmful environment was found to be used in lower ratio, by the students who answered “very so” to the question item, The more harmful environment facilities are positioned around school, the more student have the opportunities to use them. (p〈0.001). That is, the findings showed that the higher students' degree of perceived susceptibility factors was the less students used harmful environment facilities. The differences were statistically significant. In terms of the ratio of using harmful environment according to perceived seriousness factors, it was founded out that the students, who answered, “If I use any harmful environment facilities, it will be very harmful to myself.”. had the less opportunities of having used them, compared with the students who did not answer so (p〈0.001). This indicated that the higher the degrees perceived seriousness of students, the less they used harmful environment facilities. And the differences were statistically significant. In the side of the ratio of using harmful environment according to the perceived barriers, it was found out that there were any special large differences. That is, perceived barriers had nothing to do with students' using harmful environment. 4. As the result of having analyzed the factors influencing the behaviors of using harmful environment, the factor to explain the behaviors of using harmful environment was found to be the degree of perceived seriousness, among individual perceiving factors; next, the location of a school - one of personal characteristics, the degree of perceived susceptibility and ages, m sequence. 5. Among students' misconduct experiences, drinking was highest (21.6％), next, smoking (11.9％), drug abuse (4.3％), and sexual relations (1.6％), In sequence. Among other problematic behaviors, excessive waste was highest (14.6％); next, disobedience and lie (10.7％), night wandering (7.8％), and bad dressing and making-up (5.5％), in sequence. 6. In terms of the misconducts according to the behaviors of using harmful environment, compared with the students who did not commit any misconducts, harmful environment facilities were used more highly, by each group of students who experienced drinking (p〈0.00l), smoking (p〈0.001), sexual relations (p〈0.05), excessive waste (p〈0.001), disobedience ＆ lie (p〈0.001), and bad dressing ＆ making-up (p〈0.05). And the differences were statistically significant.

• Korean Journal of Fisheries and Aquatic Sciences
• /
• v.25 no.4
• /
• pp.282-290
• /
• 1992

Based on surplus production models using fishery data for the last 20 years, a stock assessment was conducted for the small yellow croaker in Korean waters. The maximum sustainable yields (MSY) from the Schaefer and Fox models were estimated to be 37,000 metric tons (mt) and 33,450 mt. Zhang's model using time-series biomass with instantaneous coefficients of fishing mortality (F) and using time-series biomass and catch yielded MSY estimates of 45,328 mt and 40,160 mt, respectively. A yield-per-recruit analysis showed that the current yield per recruit of about 20g with F= 1.11 $yr^{-l}$, where the age at first capture $(t_c)$ is 0.604, was much lower than the maximum possible yield per recruit of 43g. Fixing $t_c$ at the current level and reducing fishing intensity (F) from 1.11 $yr^{-l}$ to 0.4 $yr^{-l}$ yielded only a small increase in predicted yield per recruit, from 20 to 25g. However, estimated yield per recruit increased to 43g by increasing $(t_c)$ from the current age (0.604) to age three with F fixed at the current level. This age at first capture corresponded to the optimal length which was obtained from the $F_{0.1}$ method. According to the analysis of stock recovery strategies employing the Zhang model, the optimum equilibrium biomass $(B^*_{MSY})$ which produces the maximum yield could be achieved after approximately five years at the lower fishing intensity (F=0.5).

• Journal of Wetlands Research
• /
• v.18 no.2
• /
• pp.154-165
• /
• 2016

Recently, the frequency of extreme rainfall event has increased due to climate change and impermeable area also has increased due to rapid urbanization. Therefore, we ought to prepare countermeasures for flood reduction to reduce the damage. To consider climate change, the frequency based rainfall was calculated according to the aimed period(reference : 1971~2010, Target period I : 2011~2040, Target period II : 2041~2070, Target period III : 2071~2100) and the flood discharge was also calculated by climate change using HEC-HMS model. Also, the flood elevation was calculated by each alternative through HEC-RAS model, setting 5 sizes of drainage pumps and reservoirs respectively. The flood map was constructed using topographical data and flood elevation, and the economic analysis was conducted for reduction of flood damage using Multi dimension - Flood Damage Analysis, MD-FDA. As a result of the analysis on the flood control effect, a head of drainage pump was reduced by 0.06m up to 0.44m while it was reduced by 0.01m up to 1.86m in the case of a detention pond. The flooded area shrunk by up to 32.64% from 0.3% and inundation depth also dropped. As a result of a comparison of the Benefit/Cost index estimated by the economic analysis, detention pond E in period I and pump D in period II and III were deemed appropriate as an alternative for climate change. The results are expected to be used as good practices when implementing the flood control works considering climate change.

• Progress in Medical Physics
• /
• v.19 no.1
• /
• pp.49-55
• /
• 2008

This study aims to conduct the comparative analysis of the radiation dose according to before and after the calibration of the ionization chamber used for measuring radiation dose in the MDCT, as well as of $CTDI_w$ according to temperature and pressure correction factors in the CT room. A comparative analysis was conducted based on the measured MDCT (GE light speed plus 4 slice, USA) data using head and body CT dosimetric phantom, and Model 2026C electrometer (RADICAL 2026C, USA) calibrated on March 21, 2007. As a result, the $CTDI_w$ value which reflected calibration factors, as well as correction factors of temperature and pressure, was found to be the range of $0.479{\sim}3.162mGy$ in effective radiation dose than the uncorrected values. Also, under the routine abdomen routine CT image acquisition conditions used in reference hospitals, patient effective dose was measured to indicate the difference of the maximum of 0.7 mSv between before and after the application of such factors. These results imply that the calibration of the ion chamber, and the correction of temperature and pressure of the CT room are crucial in measuring and calculating patient effective dose. Thus, to measure patient radiation dose accurately, the detailed information should be made available regarding not only the temperature and pressure of the CT room, but also the humidity and recombination factor, characteristics of X-ray beam quality, exposure conditions, scan region, and so forth.

• Journal of Korean Society of Forest Science
• /
• v.89 no.5
• /
• pp.655-665
• /
• 2000

Taking account of the structural variation on species composition by topography, the successional trends were comparatively analyzed for the three topographic positions (valley, mid-slope, and ridge) in the natural deciduous forest of Mt. Chumbong area. The analysis was based upon the subsequent process of generation replacement by understory saplings and seedlings over the overstory trees which will be eventually fallen down. This study adopted the plot sampling method, establishing twenty $20m{\times}20m$ quadrats and collecting vegetation and site data on each different topographic position. The transition matrix model, which was modified from the mathematical theory of Markov chain, was employed to analyze the successional trends and thereafter to predict the overstory species composition in the future for each different topographic position. In valley, the simulation indicated the remarkable decrease in the proportion of species composition of present dominants Quercus mongolica and Fraxinus mandshurica from current 23% and 21% to around 4% of each at the steady state, which is predicted to take less than 200 years. On the other hand, the proportion of such species as Abies holophylla, Acer mono, Tilia amurensis, and Ulmus laciniata will increase at the steady state. In mid-slope, the result showed the remarkable decrease in the proportion of Juglans mandshurica, Kalopanax pictus, and Tilia amurensis from current 15%, 8%, and 15% to 2%, 1%, and 5%, respectively, at steady state predicted to take more than 250 years. In ridge, the current dominant Quercus mongolica was predicted to be decreased dramatically from 58% to 8% at steady state which could be achieved about 200 years. On the contrary, the proportion of Acer mono and Tilia amurensis will be increased from current 4% and 3% to more than 20% and 40%, respectively, at the steady state. Overall results suggested that the study forest is more likely seral rather than climax community. Even though a lot of variation is inevitable due to various kinds of site and vegetation development, the study forest is considered to be more than 200 years away from the steady state or climax in terms of overstory species composition.

• The Korean Journal of Food And Nutrition
• /
• v.22 no.1
• /
• pp.141-149
• /
• 2009

The elderly population in Korea is growing rapidly and their needs for long-term care has also increased. By the year 2018, our society will be approaching aged society and by 2026 it will be a super-aged society. The purpose of this study was to employ conjoint analysis to establish the relative importance of foodservice encounters in terms of determining the utility values of hospital foodservice for elderly patients. According to the results pearson's R(0.420) and Kendall's tau(0.402) statistics showed that the model fits the data well(p<0.05). The relative importance scores of hospital foodservice encounters were as follows: dietary counseling with dietetics(51.2%), foodservice personnel(48.7%), and food(0.1%). A soft cooking method(0.001) was preferred to a general cooking method(0.001), and kind foodservice personnel(0.086) were preferred to quick service(-0.086). Finally, counseling with a dietitian once a week(-0.138) was preferred to counseling twice a week (-0.276). Based on this conjoint analysis, the most preferable model for foodservice at a long-term care facility would be; soft cooking methods, kind service by foodservice personnel, and dietetic counseling once a week. Overall, a better understanding of the specific needs of our institutionalized elderly is one of the key elements that can help our long-term care system develop improved foodservice programs.

• Management & Information Systems Review
• /
• v.31 no.2
• /
• pp.143-172
• /
• 2012

While e-commerce market(B2C) grows rapidly, many experts argue that EC(B2C) transactions have not reached its full potential. A notable difference between online and offline consumer markets that is suppressing the growth of EC(B2C) is the decreased presence of human and social elements in the online shopping environments. Generally online shopping lacks human warmth and sociability. In this study, social presence in online shopping mall was proposed as a substitute for face-to-face social interaction in the traditional commerce and author explored what variables affect social presence(human warmth and sociability) on online shopping malls and how human warmth and sociability can influence on online store loyalty. To achieve research objectives, we reviewed literatures related with marketing, psychology and communication research areas. Based on literature review, we proposed a research model on the online shopping mall. To examine the proposed research model, we gathered data by using a self-report questionnaire. Respondents consists of online shoppers with at least five or more times of purchase experience in online shopping malls. Because social presence is a feeling which needs frequent contacts with malls to experience, respondents must have enough purchase experiences. The empirical results are as follows : First, shopping mall's customization efforts influence perceived social presence on the mall significantly. Second, shopping mall's responsiveness influences perceived social presence significantly. Third, perceived activity of community of online shopping mall influences perceived social presence significantly. Mall managers have to activate their customer community to reinforce social presence, resulting in trust building. Finally, perceived social presence influences trust and enjoyment on the mall significantly. And then trust and enjoyment on the mall affect store loyalty significantly. From these findings it can be inferred that perceived social presence appears determinant which is critical to the formation of core variables(trust and loyalty) in existing online shopping papers.

• Korea journal of population studies
• /
• v.26 no.1
• /
• pp.31-57
• /
• 2003

This study is intended to examine (l)whether the value of son-for example, old age security and succession of family lineage- causing son preference in the traditional society can be explained at the individual level, (2)whether women without son in the son preference country continue her childbearing until having at least one son or give up the desire of having a son at a certain level. To accomplish these purposes, the 1974 Korean National Fertility Survey data are analyzed by the quadratic hazard models controlling unobserved heterogeneity. Unlike ordinary regression model, even omitted variables that affect hazard rates and are uncorrelated with the included independent variables can distort the parameter estimates in the hazard model. Therefore the nonparametric maximum likelihood estimator(NPMLE) of a mixing distribution developed by Heckman and Singer is used to control unobserved heterogeneity. Based on the statistical result in this study, the value of son causing son preference is determined at the societal level, not at the individual level. And Korean women without a son did not continue endlessly childbearing during child bearing ages until having a son. In general, they gave up the desire having a son when she had born six daughters continuously. Thus, 30-40 years ago, the number of daughters that women without a son giving up the desire of son was six, which is about the level of total fertility rate during 1960s. In these days, we can often see many women who have only two or three daughters and do not any son. This means that the level of giving up the desire of son, which is one factor representing the strength of son preference, becomes lower. If the strength of son preference did not become much weaker, then the fertility rates in Korea could not reach the below replacement level.

• The Sea:JOURNAL OF THE KOREAN SOCIETY OF OCEANOGRAPHY
• /
• v.17 no.1
• /
• pp.16-24
• /
• 2012

To study the seasonal pattern of sediment distribution and the transport tendency in Haeundae nearshore area; i) the grain size texture of surface sediment was examined in June, October, and December of 2007, and March and June of 2008, and secondary, ii) the transport tendency was studied by using a two-dimensional sediment transport model of Gao and Collins (1992), and finally, iii) the bathymetric changes were analyzed by using the data collected in February, May, August, and December of 2007 by Haeundae District Office. Spatial distribution of sediment texture, the tendency of sediment transport as well as the bathymetric change showed significant seasonal variations. From June to December of 2007, the eastern part of the Haeundae area, off Dalmaji Hill showed the coarsening of mean grain size with a prominent transport tendency toward the Haeundae beach. On the contrary, the western part of the area, off Dongbaek Island showed a fining trend of mean grain size, and the transport tendency toward the beach was relatively weakened. From December of 2007 to June of 2008, the mean grain size of Mipo Harbor became finer, and the transport tendency toward the central beach decreased. The mean grain size of Dongbaek Island became coarser, while the tendency increased in the direction of the beach. The areas of significant net accumulation and erosion were depicted based on the bathymetric changes between observation periods. During the period of February to May of 2007, net accumulation was observed on the eastern part of the study area, in front of Mipo Harbor. Erosion was generally occurred throughout the area from May to August of 2007. From August to December of 2007, erosion and accumulation was observed off Mipo Harbor and Dongbaek Island, respectively. The change of sediment facies also suggests the accumulation on the eastern coast during the spring, erosion around the entire coast during the summer, and accumulation on the western coast during the winter. The changes in the accumulation and erosion were most apparent during the summer when several typhoons have passed by, while unnoticeable during the spring.