• Journal of Korea Trade
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• v.27 no.1
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• pp.139-158
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• 2023

Purpose - The study of co-movements between stock markets is a crucial area of finance and has recently received much interest in a variety of studies, especially in international finance. Stock market co-movements are a major phenomenon in financial markets, but they are not necessarily independent of the real market. Several studies support the idea that bilateral trade linkages significantly impact stock market correlations. Motivated by this perspective, this study investigates whether real market integration due to trade agreements brings about financial market integration in terms of stock market co-movement. Design/methodology - Over the 10 free trade agreements (FTAs) signed by the United States, using a dynamic conditional correlations (DCC) multivariate GARCH (MGRACH) model, we empirically measure the degree of integration by finding DCCs between the US market and the partner country's market. We then track how these correlations evolve over time and compare the results before and after trade agreements. Findings - According to the empirical results, there are positive return spillover effects from the US market to eight counterpart equity markets, except Jordan, Morocco, and Singapore. Especially Mexico, Canada, and Chile have large return spillover effects at the 1% significance level. All partner countries of FTAs generally have positive correlations with the US over the entire period, but the size and variance are somewhat different by country. Meanwhile, not all countries that signed trade agreements with the United States showed the same pattern of stock market co-movement after the agreement. Korea, Mexico, Chile, Colombia, Peru, and Singapore show increasing DCC patterns after trade agreements with the US. However, Canada, Australia, Bahrain, Jordan, and Morocco do not show different patterns before and after trade agreements in DCCs. These countries generally have the characteristic of relatively lower or higher co-movements in stock markets with the US before the signing of the FTAs. Originality/value - To our knowledge, few studies have directly examined the linkages between trade agreements and stock markets. Our approach is novel as it considers the problem of conditional heteroscedasticity and visualizes the change of correlations with time variations. Moreover, analyzing several trade agreements based on the United States enables the results of cross-country pairs to be compared. Hence, this study provides information on the degree of stock market integration with countries with which the United States has trade agreements, while simultaneously allowing us to track whether there have been changes in stock market integration patterns before and after trade agreements.

• Journal of Christian Education in Korea
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• v.74
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• pp.57-80
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• 2023

The purpose of this study is to review the practicality of Christian education for sustainable development in a rapidly changing world. The first part of this study identify the concept, meaning, and direction of implementation of "Sustainable Development," which has been studied and published around UNESCO since the early 1980s, and present practical strategies for the sustainable development of Christian education. This study chronologically selected five major reports published by UNESCO--"Our Common Future"(1987), "Agenda 21"(1992), "UN Decade of Education for Sustainable Development 2005-2014"(2002), "Roadmap for Implementing the Global Action Programme for Education for Sustainable Development 2015-2019"(2014) and "Education for Sustainable Development 2030"(2020)--and examined the concept and meaning of "Sustainable Development"(SD). At the same time, in relation to "Education for Sustainable Development"(ESD), the occurrence, change, and implementation method of "Sustainable Development Goals"(SDGs) were examined and presented. This study derived three Christian educational implications necessary to properly establish the next generation of faith, based on a leadership development strategy using the concept of sustainable development, For the sustainability of Christian education, the foundation of education based on the correct biblical interpretation of cultural mandate is first examined, and then the need for curriculum development and class design is proposed using various types of indicators and educational modules. Finally, specific practices for the development of educational leadership to revitalize Christian education are presented through a multi-dimensional approach.

• Journal of the Korea Institute of Building Construction
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• v.23 no.4
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• pp.337-348
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• 2023

The central objective of this study is to curtail the leakage of mortar or cement paste, often resultant of ill-constructed formwork, by implementing thixotropy in the formulation of high-fluidity, standard-strength concrete. When such concrete is utilized in smaller scale construction projects, instances of formwork gaps due to suboptimal construction precision may lead to significant leakage of mortar and paste, a problem not typically encountered with traditional slump-flow concrete. In this investigation, Polyvinyl Alcohol(PVA) and borax are incorporated into the concrete mixture to induce thixotropy. The experimental design includes varying methodologies for integrating PVA and borax, while assessing alterations in diverse concrete performances, including thixotropy and leakage reduction potential that simulates formwork gap conditions. Under the experimental conditions defined within this study, it was found that replacing, rather than merely adding PVA and borax, aids in averting water addition via suspensions. This approach yielded promising results in terms of concrete properties and proved efficacious in stemming leakage in concrete possessing sufficient thixotropy. Notably, when a 6% PVA suspension was substituted, a significant reduction in leakage was observed. Consequently, it is projected that construction quality can be ensured, even with lower precision formwork, by applying thixotropy to concrete through the use of PVA and borax.

• KIPS Transactions on Software and Data Engineering
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• v.12 no.5
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• pp.199-206
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• 2023

The current software becomes the huge size of source codes. Therefore it is increasing the importance and necessity of static analysis for high-quality product. With static analysis of the code, it needs to identify the defect and complexity of the code. Through visualizing these problems, we make it guild for developers and stakeholders to understand these problems in the source codes. Our previous visualization research focused only on the process of storing information of the results of static analysis into the Database tables, querying the calculations for quality indicators (CK Metrics, Coupling, Number of function calls, Bad-smell), and then finally visualizing the extracted information. This approach has some limitations in that it takes a lot of time and space to analyze a code using information extracted from it through static analysis. That is since the tables are not normalized, it may occur to spend space and time when the tables(classes, functions, attributes, Etc.) are joined to extract information inside the code. To solve these problems, we propose a regularized design of the database tables, an extraction mechanism for quality metric indicators inside the code, and then a visualization with the extracted quality indicators on the code. Through this mechanism, we expect that the code visualization process will be optimized and that developers will be able to guide the modules that need refactoring. In the future, we will conduct learning of some parts of this process.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.30 no.3C
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• pp.149-158
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• 2010

In this study, the behavior of Pile-Bent structure with varying diameters subjected to lateral loads were evaluated by a load transfer approach. An analytical method based on the beam-column model and nonlinear load transfer curve method was proposed to consider material non-linearity (elastic, yielding) and P-${\Delta}$ effect. For an effective analysis of behavior Pile-Bent structure, the bending moment and fracture lateral load of material were evaluated. And special attention was given to lateral behavior of Pile-Bent structures depending on reinforcing effect of materials and ground conditions. Based on the parametric study, it is shown that the maximum bending moment is located within a depth (plastic hinge) approximately 1~3D (D: pile diameter) below ground surface when material non-linearity and P-${\Delta}$ effect are considered. And distribution of the lateral deflections and bending moments on a pile are highly influenced by the effect of yielding. It is also found that this method considering material yielding behavior and P-${\Delta}$ effect can be effectively used to perform the preliminary design of Pile-bent structures.

• 한국노년학
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• v.31 no.3
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• pp.607-621
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• 2011

Purpose The purpose of this study was to examine the relationship between physical activities, sleep disturbance, and health related quality of life (HRQOL) in patients with chronic obstructive pulmonary disease (COPD). Methods A descriptive survey design used pretest dataset of COPD symptom management intervention study (N=245). Measures included the international physical activity questionnaire, the COPD and asthma sleep impact scale, and the St. George's respiratory questionnaire of HRQOL. The data were analyzed using descriptive analysis, t-test, ANOVA, Pearson correlation coefficients, and simultaneous multiple regression by the SPSS WIN 18.0 program. Results The mean scores (SD) of HRQOL and sleep disturbance were 36.04 (19.43) and 14.33 (6.20), respectively. About 32% of participants were physically inactive. The multivariate approach showed the patients who have more sleep disturbance (β=.27), lower levels of FEV1 % predicted (β=-.23), lower physical activities (β=-.19), lower household income (β=-.16), and diagnosed longer than 5 years (β=.14) reported lower HRQOL (R²=.34). Conclusion The findings of this study suggest that improving the quality of sleep and physical activities can be efficient strategies for HRQOL in patients with COPD. Future research in enhancing HRQOL through improving sleep quality and physical activities is needed.

• Asia Marketing Journal
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• v.15 no.3
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• pp.53-77
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• 2013

As advertising and promotions are categorized as operating expenses, managers tend to reduce marketing budget to improve their short term profitability. Gauging the value and accountability of marketing spending is therefore considered as a major research priority in marketing. To respond this call, recent studies have documented that financial market reacts positively to a firm's marketing activity or marketing related outcomes such as brand equity and customer satisfaction. However, prior studies focus on the relation of marketing variable and financial market variables. This study suggests a channel about how marketing activity increases firm valuation. Specifically, we propose that a firm's marketing activity increases the level of the firm's product market information and thereby the dispersion in financial analysts' earnings forecasts decreases. With less uncertainty about the firm's future prospect, the firm's managers and shareholders have less information asymmetry, which reduces the firm's cost of capital and thereby increases the valuation of the firm. To our knowledge, this is the first paper to examine how informational benefits can mediate the effect of marketing activity on firm value. To test whether marketing activity contributes to increase in firm value by mitigating information asymmetry, this study employs a longitudinal data which contains 12,824 firm-year observations with 2,337 distinct firms from 1981 to 2006. Firm value is measured by Tobin's Q and one-year-ahead buy-and-hold abnormal return (BHAR). Following prior literature, dispersion in analysts' earnings forecasts is used as a proxy for the information gap between management and shareholders. For model specification, to identify mediating effect, the three-step regression approach is adopted. All models are estimated using Markov chain Monte Carlo (MCMC) methods to test the statistical significance of the mediating effect. The analysis shows that marketing intensity has a significant negative relationship with dispersion in analysts' earnings forecasts. After including the mediator variable about analyst dispersion, the effect of marketing intensity on firm value drops from 1.199 (p < .01) to 1.130 (p < .01) in Tobin's Q model and the same effect drops from .192 (p < .01) to .188 (p < .01) in BHAR model. The results suggest that analysts' forecast dispersion partially accounts for the positive effect of marketing on firm valuation. Additionally, the same analysis was conducted with an alternative dependent variable (forecast accuracy) and a marketing metric (advertising intensity). The analysis supports the robustness of the main results. In sum, the results provide empirical evidence that marketing activity can increase shareholder value by mitigating problem of information asymmetry in the capital market. The findings have important implications for managers. First, managers should be cognizant of the role of marketing activity in providing information to the financial market as well as to the consumer market. Thus, managers should take into account investors' reaction when they design marketing communication messages for reducing the cost of capital. Second, this study shows a channel on how marketing creates shareholder value and highlights the accountability of marketing. In addition to the direct impact of marketing on firm value, an indirect channel by reducing information asymmetry should be considered. Potentially, marketing managers can justify their spending from the perspective of increasing long-term shareholder value.

• Journal of Biomedical Engineering Research
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• v.44 no.6
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• pp.450-464
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• 2023

Pulse oximetry, a non-invasive technique for evaluating blood oxygen saturation, conventionally depends on isolated measurements, rendering it vulnerable to factors like illumination profile, spatial blood flow fluctuations, and skin pigmentation. Previous efforts to address these issues through imaging systems often employed red and near-infrared illuminations with distinct profiles, leading to inconsistent ratios of transmitted light and the potential for errors in calculating spatial oxygen saturation distributions. While an integrating sphere was recently utilized as an illumination source to achieve uniform red and near-infrared illumination profiles on the sample surface, its bulkiness presented practical challenges. In this work, we have enhanced the pulse oximetry imaging system by transitioning illumination from an integrating sphere to a multi-wavelength LED configuration. This adjustment ensures simultaneous emission of red and near-infrared light from the same position, creating a homogeneous illumination profile on the sample surface. This approach guarantees consistent patterns of red and near-infrared illuminations that are spatially uniform. The sustained ratio between transmitted red and near-infrared light across space enables precise calculation of the spatial distribution of oxygen saturation, making our pulse oximetry imaging system more compact and portable without compromising accuracy. Our work significantly contributes to obtaining spatial information on blood oxygen saturation, providing valuable insights into tissue oxygenation in peripheral regions.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.43 no.6
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• pp.689-693
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• 2023

Domestic bridges with a service life of more than 30 years are expected to account for approximately 54% of all bridges within the next 10 years. As bridges rapidly deteriorate, it is necessary to establish an appropriate maintenance plan. Recent domestic and international research have focused on the integration of BIM to digitize bridge maintenance information and then enhance accessibility and usability of the information. Accordingly, this study developed a BIM-FEM interoperability algorithm for bridge decks to convert maintenance information into data and efficiently manage the history of maintenance. After creating an initial crack BIM based on an exterior damage map, bridge specification and damage information were linked to a numerical analysis that performs damage analysis considering damage scenarios and design loads. The spread of cracks obtained from the analysis results were updated into the BIM. Based on the damage spread information on the BIM, an automated technology was also developed to assess both the current and future condition ratings of the bridge deck. This approach can enable an efficient maintenance of the deck using the history data from bridge inspection and diagnosis as well as future information on cracks and defects. The expected early detection and prevention would ultimately improve the lifespan and safety of bridges.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.43 no.6
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• pp.735-747
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• 2023

In recent times, the sharp increase in extreme flood damages due to climate change has posed a challenge to effectively address flood-related issues solely relying on conventional flood management infrastructure. In response to this problem, this study aims to consider the effectiveness of nature-based flood management approaches, specifically levee retreat and relocation. To achieve this, we utilized a 1D numerical model, HEC-RAS, to analyze the flood reduction effects concerning floodwater levels, flow velocities, and time-dependent responses to a 100-year frequency flood event. The analysis results revealed that the effect of creating a flood buffer zone of the nature-based solution extends from upstream to downstream, reducing flood water levels by up to 30 cm. The selection of the flow roughness coefficient in consideration of the nature-based flood buffer space creation characteristics should be based on precise criteria and scientific evidence because it is sensitive to the flood control effect analysis results. Notably, floodwater levels increased in some expanded floodplain sections, and the reduction in flow velocities varied depending on the ratio of the expanded cross-sectional area. In conclusion, levee retreat and floodplain expansion are viable nature-based alternatives for effective flood management. However, a comprehensive design approach is essential considering flood control effects, flow velocity reduction, and the timing of peak water levels. This study offers insights into addressing the challenges of climate-induced extreme flooding and advancing flood management strategies.