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Problems in the Korean National Family Planning Program (한국가족계획사업(韓國家族計劃事業)의 문제점(問題點))

  • Hong, Jong-Kwan
    • Clinical and Experimental Reproductive Medicine
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    • v.2 no.2
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    • pp.27-36
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    • 1975
  • The success of the family planning program in Korea is reflected in the decrease in the growth rate from 3.0% in 1962 to 2.0% in 1971, and in the decrease in the fertility rate from 43/1,000 in 1960 to 29/1,000 in 1970. However, it would be erroneous to attribute these reductions entirely to the family planning program. Other socio-economic factors, such as the increasing age at marriage and the increasing use of induced abortions, definitely had an impact on the lowered growth and fertility rate. Despite the relative success of the program to data in meeting its goals, there is no room for complacency. Meeting the goal of a further reduction in the population growth rate to 1.3% by 1981 is a much more difficult task than any one faced in the past. Not only must fertility be lowered further, but the size of the target population itself will expand tremendously in the late seventies; due to the post-war baby boom of the 1950's reaching reproductive ages. Furthermore, it is doubtful that the age at marriage will continue to rise as in the past or that the incidence of induced abortion will continue to increase. Consequently, future reductions in fertility will be more dependent on the performance of the national family planning program, with less assistance from these non-program factors. This paper will describe various approaches to help to the solution of these current problems. 1. PRACTICE RATE IN FAMILY PLANNING In 1973, the attitude (approval) and knowledge rates were quite high; 94% and 98% respectively. But a large gap exists between that and the actual practice rate, which is only 3695. Two factors must be considered in attempting to close the KAP-gap. The first is to change social norms, which still favor a larger family, increasing the practice rate cannot be done very quickly. The second point to consider is that the family planning program has not yet reached all the eligible women. A 1973 study determineded that a large portion, 3096 in fact, of all eligible women do not want more children, but are not practicing family planning. Thus, future efforts to help close the KAP-gap must focus attention and services on this important large group of potential acceptors. 2. CONTINUATION RATES Dissatisfaction with the loop and pill has resulted in high discontinuation rates. For example, a 1973 survey revealed that within the first six months initial loop acceptance. nearly 50% were dropouts, and that within the first four months of inital pill acceptance. nearly 50% were dropouts. These discontinuation rates have risen over the past few years. The high rate of discontinuance obviously decreases the contraceptive effectiveness. and has resulted in many unwanted births which is directly related to the increase of induced abortions. In the future, the family planning program must emphasize the improved quality of initial and follow-up services. rather than more quantity, in order to insure higher continuation rates and thus more effective contraceptive protection. 3. INDUCED ABORTION As noted earlier. the use of induced abortions has been increase yearly. For example, in 1960, the average number of abortions was 0.6 abortions per women in the 15-44 age range. By 1970. that had increased to 2 abortions per women. In 1966. 13% of all women between 15-44 had experienced at least one abortion. By 1971, that figure jumped to 28%. In 1973 alone, the total number of abortions was 400,000. Besides the ever incre.sing number of induced abortions, another change has that those who use abortions have shifted since 1965 to include- not. only the middle class, but also rural and low-income women. In the future. in response to the demand for abortion services among rural and low-income w~men, the government must provide and support abortion services for these women as a part of the national family planning program. 4. TARGET SYSTIi:M Since 1962, the nationwide target system has been used to set a target for each method, and the target number of acceptors is then apportioned out to various sub-areas according to the number of eligible couples in each area. Because these targets are set without consideration for demographic factors, particular tastes, prejudices, and previous patterns of acceptance in the area, a high discontinuation rate for all methods and a high wastage rate for the oral pill and condom results. In the future. to alleviate these problems of the methodbased target system. an alternative. such as the weighted-credit system, should be adopted on a nation wide basis. In this system. each contraceptive method is. assigned a specific number of points based upon the couple-years of protection (CYP) provided by the method. and no specific targets for each method are given. 5. INCREASE OF STERILIZA.TION TARGET Two special projects. the hospital-based family planning program and the armed forces program, has greatly contributed to the increasing acceptance in female and male sterilization respectively. From January-September 1974, 28,773 sterilizations were performed. During the same time in 1975, 46,894 were performed; a 63% increase. If this trend continues, by the end of 1975. approximately 70,000 sterilizations will have been performed. Sterilization is a much better method than both the loop and pill, in terms of more effective contraceptive protection and the almost zero dropout rate. In the future, the. family planning program should continue to stress the special programs which make more sterilizations possible. In particular, it should seek to add the laparoscope techniques to facilitate female sterilization acceptance rates. 6. INCREASE NUMBER OF PRIVATE ACCEPTORS Among the current family planning users, approximately 1/3 are in the private sector and thus do not- require government subsidy. The number of private acceptors increases with increasing urbanization and economic growth. To speed this process, the government initiated the special hospital based family planning program which is utilized mostly by the private sector. However, in the future, to further hasten the increase of private acceptors, the government should encourage doctors in private practice to provide family planning services, and provide the contraceptive supplies. This way, those do utilize the private medical system will also be able to receive family planning services and pay for it. Another means of increasing the number of private acceptors, IS to greatly expand the commercial outlets for pills and condoms beyond the existing service points of drugstores, hospitals, and health centers. 7. IE&C PROGRAM The current preferred family size is nearly twice as high as needed to achieve a stable poplation. Also, a strong boy preference hinders a small family size as nearly all couples fuel they must have at least one or more sons. The IE&C program must, in the future, strive to emphasize the values of the small family and equality of the sexes. A second problem for the IE&C program to work. with in the: future is the large group of people who approves family planning, want no more children, but do not practice. The IE&C program must work to motivate these people to accept family planning And finally, for those who already practice, an IE&C program in the future must stress continuation of use. The IE&C campaign, to insure highest effectiveness, should be based on a detailed factor analysis of contraceptive discontinuance. In conclusion, Korea faces a serious unfavorable sociodemographic situation- in the future unless the population growth rate can be curtailed. And in the future, the decrease in fertility will depend solely on the family planning program, as the effect of other socio-economic factors has already been maximumally felt. A second serious factor to consider is the increasing number of eligible women due to the 1950's baby boom. Thus, to meet these challenges, the program target must be increased and the program must improve the effectiveness of its current activities and develop new programs.

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A Study on Medium-Sized Enterprises of Japan (일본의 중견기업에 관한 연구 : 현황과 특징, 정책을 중심으로)

  • Kang, Cheol Gu;Kim, Hyun Sung;Kim, Hyun Chul
    • Korean small business review
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    • v.32 no.2
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    • pp.209-223
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    • 2010
  • Korea's business is composed of a few large-sized enterprises (which can be abbreviated as LSE) and a majority of small-sized enterprises (SSE). Although there has been a growing recognition of the need for the development of medium-sized enterprises (MSE) which can serve as a link between SSE and LSE, as yet there has not yet been a consensus on the definition, characteristics and the function of the MSE in Korea. Nowadays, the world is being globalized, and Japan and China are in competition to ne a great economic power. While East Asia is experiencing rapid changes, promoting MSE which can secure flexibility and efficiency through covering up the limitation of LSE and SSE is needed in order to respond the global market which is being specialized. The features of MSE in Japan can be listed as follows. First, the MSE in Japan is developing the company through getting into niche markets which are hard for major companies to enter rather than developing markets in order to compete against major companies directly. While MSEs are endeavoring to build the business firmly in the domestic market, they can possess special and competitive technical skills through trials and errors; so that they can get a chance develop their business through independent business system rather than putting their effort to compete against major companies. Second, from the MSEs with competitive edge in the market, there are many contributions to the national exportation. Those MSEs produce in domestic and maintain the quality of high price products which need cutting-edge technology, while they relocate the low and middle priced goods to the country where manufacturing costs are low, so that they can maintain the price competitiveness. Third, the industrial structure in Japan is formed from dual structure between major companies and small sized companies. In other words, in Japan's industrial structure which are composed of subcontract structure, this dual structure has taken a major role of small sized companies' growth and manufacturing businesses' international competitive power. Forth, MSE in Japan adopt a strategy of putting their value on qualitative scale growth rather than quantitative scale growth. In this paper, the case of Japanese MSE is analyzed. Along with its long history of Industrialization, Japan has a corporate environment where the SSEs can develop as a MSE and later a LSE through a full-support system. Among its SSEs, there are a number of world class corporations equipped with a large domestic market, win-win cooperation with the LSEs and an independent technology development. It can also be observed that these SSEs develop into MSEs with sustainable growth potentials. This study will focus on the condition under which the MSEs of Japan have been developed, and how they have survived the competition between SSEs and LSEs. Through this study, this paper attempts to offer solutions to Korea's polarization between the SSE and LSE, while providing the basis for SSEs revitalization. In general, if both extremities phenomenon deepen between LSE and SSE, there are possible fears of occurring disutility in national economy by the monopolization of LSE. For that reason, enterprise group, which can make SSE or MSE compete LSE in some area and ease the monopoly and oligopoly problem, is needed. This awareness has been shared for ages long. Nevertheless, there is no legal definition for MSE in Japan, and there is no definition about the enterprise size or unified view of MSE between scholars, but it is defined differently by each of academical person or research institution and study meeting. For that reason, this paper will organize the definition of MSE in Japan, and then will propose the characteristics of the background which has made MSE secure competitiveness and sustainable growth in global market. This study focus on that because through this process, the positive change to the awareness of MSE can be proposed in Korea and to seek the policy direction for building institutional framework which can make SSE become MES. Through this way, the fundamentals for SSE to become MSE can be managed and some appropriate suggestions which will be able to make MSE enter the global market in the future can also be proposed. Due to these facts, this study is very important and well timed task. In a sense of this way, this study will examine the definition and role of MSE in Japan. after this examination, this study will deal with the status, special feature, and promotion policy for MSE. Through this analysis of MSE in Japan, the foundation which be able to set the desirable role model for MSE in Korea can be proposed. Also, the political implication which is needed to push ahead to contribute to creating employment and economic growth through sustainable growth of MSEs in economic system of Korea can be offered through this study. It has been found that Japan's MSE functions as an indispensable link among various industrial structures by holding a significant position in employment rate, production and value added. Although the MSEs took up less than 1% of the entire number of businesses with 2700 manufacturing firms and 7000 non-manufacturing firms, its employment ratios are about 15%, while taking about 25% of the manufacturing industry's exports. In industries such as machinery and electronics which is considered Japan's major industry, the MSEs showed a higher than average ratio of manufacturing exports and employment rate. It can be analyzed that behind Japan's advantageous industries, close and deeply knit MSEs exist. Although there are no clearly stated policies geared towards the MSEs by the Japanese government, various political measures exist such as the R&D Project and the inducement of cooperation between enterprises which gives room for MSEs to participate in the SSE policies. In relation to these findings, the following practical measures can be considered in order to revitalize Korea's MSEs: First, there is a need for a legal definition of MSE and the incentives to provide legal support for its growth. Second, if a law to support the MSEs is established, it could provide a powerful inducement for the SSE to grow as a MSE, rather than stay as a SSE. Third, there is a need for a strategy of MSEs to establish a stable base in the domestic market and then advance to the global market with the accumulated trial and error and competitiveness. Fourth, the SSE themselves need the spirit of entrepreneurship in order to make the leap to a MSE. Because if nothing is to be changed about the system on the firms that grew, and the parts of the past custom was left to be managed alone, confusion and absence of management can take place. No matter how much tax favors the government will give and no matter how much incentive there could be through the policies, there are limits for industries to higher the ability to propagate. And because of that it is a period where industries need their own innovative skills to reform their firms.

A Study on Oral Health Awareness, Oral Health Behavior and Dental Caries among low Socio-Economic Status Children: the cases of local children's center in Incheon (저소득층 아동의 구강보건인식과 행위 및 치아우식실태 조사 (인천광역시 지역아동센터를 중심으로))

  • Han, Su-Jin;Hwang, Yoon-Sook;Yoo, Jung-Sook;Kim, Yoon-Sin
    • Journal of dental hygiene science
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    • v.8 no.3
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    • pp.147-153
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    • 2008
  • The purpose of this study was to attempt to lay the foundation for the development of oral health programs geared toward promoting the oral health of low socioeconomic class children. The subjects in this study were 257 school children who used local children's centers. The findings of the study were as follows: 1. The children mean scored 5.74 on oral health knowledge. 2. In terms of oral health awareness, 47.1% viewed the right toothbrushing as the best way to stay away from dental caries. 3. 45% of the subjects reported toothbrushing at least three times daily. 21.4% visited dental institutions three or more times in the past year. 33.1% had never undergone application of fluoride. 30.4% had never received oral health education. 4. The mean level of caries was 4.61 dft index in 1-2th grade, 3.27 DMFT index in 5-6th grade, 1.47 DMFT index in the 3-4th grad and 1.19 DMFT index in the 1-2th grade. 5. The mean level of Patient Hygiene Performance (PHP index) was 3.59, and there was no significant association was pound between PHP index and grade. 6. Oral health behavior wasn't affected by their oral health awareness, and knowledge.

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The costume culture of China is as old and varied as her long history (중국 소수민족의 복식 연구(1))

  • 박춘순
    • Journal of the Korean Society of Costume
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    • v.26
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    • pp.175-206
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    • 1995
  • The costume culture of China is as old and varied as her long history. As China is a multiracial nation and consists of fifty-six min-ority races including Han race, there are not only fifty-six different costumes in China but each races' costume habit is very different. Therefore, Chinese penninsula can be considered an enor-mous exhibition center of the costumes. This study undertook on the assumption that the costumes' mainstream of Korea and east-northern Asia as well as that of China could be examined by investigating the minority races' costumes in the east-and west-northern areas of China. The process of evolution of the costume of a particular people, country or area is subject not only to constraints related to geography such as climate, topography or local products but is also affected by numorous environmental influences including cultural, economic, social and even pol-itical ones in terms of the selection of material, styling, color and standard of tailoring. In other words, things like philosophy of life, religious be-lief, aesthetic outlook, moral code, class system, degree of affluence, and cultural exchange will all be reflected directly or indirectly by features of a people's or country's style costume. Of course, there are several factors affecting to the style of costume of the minority people in China. However, the only three factors-geo-graphical and environmental, production method, and religious belef-will be touched in this study. First of all, the geograghical and eenviron-mental factor would be the decisive one because the costume should be designed to overcome the constraints of climate and geographical environ-ments. Accordingly, each race has an unique style of costume. The costume of the minority races in the northern parts are loose and wide, and made of warm furs. For instance, Mongolian robe has the quality of anti-wind, anti-cold and warmness, and the width of a sleeve is narrow and long. Secondly, the costume style can be said to be limited by the production pattern, when the geo-graphical environment was affected to decide the costume style, the production pattern was together affected to it . In case of Mongolian robe, they should satisfy the dual condition as the practical function. One is the condition that they should be fitted to the climate, and the other is the condition that they should be suit-able to the nomadic life. Mongolian robes are suitable to the nomadic peoples because they are designed for not only overcoming the cold wind and weather but being used as the bedquit at night. The costumes of Hoche people was made of the skin of the fish and wild animals because of their main means of living being fishing and hunting. Accordingly, their costumes are dur-able, warm and water-proof. Finally, the style of the costume is affected by the religious belief. In other words, the pattern in fashion is closely related with the religious be-lief or ancestor worship and nature worship. Ac-cordingly, the symbols of these worship are often emerged in the decoration of the costume. The design of costume of the people in the northern areas of China is very simple. It is related with their monotheism. On the other hand, the costumes of twen쇼 minority races in the east-northern parts of China can be devided into three racial groups such as the long robes of Man people and Mongols, Tunics of the peoples in the west-northern areas, and the pants and jackets of Hoche people. The minorority races all has not only the unique costume habit but their costumes are also related with their living style and production means.

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A Survey of Perceptions of Elementary School Teachers on the Small-Scale Chemistry (미량화학(Small-Scale Chemistry)에 대한 초등학교 교사들의 인식)

  • Kim, Sung-Kyu;Kong, Young-Tae
    • Journal of Science Education
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    • v.34 no.2
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    • pp.291-305
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    • 2010
  • The aim of this study was to survey the perceptions of the elementary school teachers on the smallscale chemistry(SSC) following its training session. The teachers participating in the survey were 266 teachers in the Gyeongnam province. They were given a questionnaire that focused on the nine areas of the SSC: Needs for the teacher training and its application, its benefits, issues of safety and danger as well as treatment of environmental pollution, its economic efficiency and the development of investigative skills. The designed questionnaire was checked by an authority, and the responses to each question were tallied and analyzed. The results are as follows. The biggest problems of the traditional experimental methods as rated by the teachers were, in the order of importance, the preparation time, the legal liability of teachers for the safety and accidents, financial issues, disposal of the experimental wastes and the lack of relevant data. Since most of the teachers had not experienced the SSC lab programs in the field, they responded positively to the questions of need for its introduction and training. The implementation of the experimental SSC lab programs should proceed in the following order: introduction into the textbook, teacher training program, after-school education and the invitation of instructors. The most useful materials for the SSC program were CDs, videos, books and various printed materials, in that order. The responses regarding benefits of the SSC program included its simplicity, convenience, time savings, diversity, qualitative and quantitative aspects, integration into the regular class and use of toys. In particular, the teachers mentioned the increased safety due to the small amount of experimental reagents needed and the durability of plastic instruments. The familarity from the use of everyday tools as well as easy access to and the low-cost of the instruments were other important benefits. The teachers in general rated the educational content of the program highly, but many also found it to be average. Some pointed out the lack of sufficient discussion due to the individual or pair groupings as a potential shortcoming. The potential for development of problem solving ability and improvement of skills was rated positively. The number of teacher who rated the development of creativity positively was just over the half. As for the area of improving investigative skills, many found its assessment difficult and confusing because of the lack of its systemic definition and categorization. Based on the findings of this study, I would like to recommend the application and a wider dissemination of the small-scale chemistry lab program into the elementary school science curriculum.

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A Study on the Historical Origin of Private Security Industry in Korea (우리나라 보안산업의 역사적 기원에 관한 연구)

  • Lee, Chang-Moo
    • Korean Security Journal
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    • no.22
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    • pp.91-111
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    • 2010
  • Around the middle of the ninth century the strict bone-rank system of Silla frustrated many people who had political ambition but lacked nobility. They had to seek other ways, including maritime trade. Such an undertaking reflected and also increased their economic and military power. Trade prospered with T'ang China and with Japan as well. The threat of piracy to Silla's thriving maritime trade caused to create a succession of garrisons at important coastal points. Chonghae Jin (Chonghae garrison) was regarded as the most important of these. It was established in 828 by Chang Pogo. Chonghae Jin was on Wando, an island just east of the southwestern tip of Korea and a key place at this time in the trade between China, Korea, and Japan. From this vantage point Chang Pogo became a merchant-prince with extensive holdings and commercial interests in China and with trade contacts with Japan. Although piracy was rampant in East Asia at that time, either the Chinese or Silla government was not able to control it due to inner political strife and lack of policing resources. Infuriated by the piracy and the government's inability to control it, Chang Pogo came back to Silla to fight against the pirates and to protect maritime trade. He persuaded the king of Silla and was permitted to control the private armed forces to sweep away the pirates. In 829 he was appointed Commissioner of Chonghae-Jin with the mission of curbing piracy in that region. Chang's forces were created to protect people from pirates, but also developed into traders among Silla Korea, T'ang China, and Japan in the 9th century. This was geographically possible because the Chonghae Garrison was situated at the midpoint of Korea, China, and Japan, and also because Chang's naval forces actually dominated the East Asia Sea while patrolling sea-lanes. Based on these advantages, Chang Pogo made a great fortune, which might be collected from a charge for protecting people from pirates and the trades with China and Japan. Chang's forces could be termed the first private security company in the Korean history, at least in terms of historical documents. Based on historical documents, the numbers of private soldiers might be estimated to exceed tens of thousands at least, since Chang's forces alone were recorded to be more than ten thousand. Because local powers and aristocratic elites were said to have thousands of armed forces respectively, the extent of private forces was assumed to be vast, although they were available only to the privileged class. In short, the domination of Chang's forces was attributable to the decline of central government and its losing control over local powers. In addition it was not possible without advanced technologies in shipbuilding and navigation.

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The Relationship of the Social Support and Health Promotion Behavior in Rural Communities (일부농촌지역에서의 사회적 지지와 건강증진 행동간 관계)

  • Lee, Hee-Young;Hwang, Seung-Sik;Baek, Ji-Eon;Kim, Yang-Sook;Ka, Mun-Hee;Sin, Jee-Yeon;Kim, Eun-Ok;Kim, Si-Wan;Ahn, Hye-Yun;Park, Jae-Hyun;Kim, Hyo-Chung;Lee, Seung-Eun;Cho, Byung-Hee;Chung, Moon-Ho
    • Journal of agricultural medicine and community health
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    • v.27 no.2
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    • pp.55-66
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    • 2002
  • This study aims to clarify the socio-economic factors which have an effectiveness on the social support in rural areas and analyze how it relates to the Individual Health promotion behavior. It is advised to improve social support in the community. The target population was all residents with no chronic and no serious disease who live in five villages of Chuncheon in Kangwon province during July of 2002. This study was done by the interview survey using questionnaire which was composed with questions about Medical Outcomes Study-Social Support Survey(MOS-SSS) and the health promotion behavior. MOS-SSS was translated to Korean and modified to be suitable for the study. The functional and social support variables were also added. The health promotion behavior was formed through the questions about whether or not stop smoking, stop drinking, the excise, the health examinations, attending health education, and hormone replacement therapies. The results are as follows; 1) the case of low-educated, divorce or separation to death, or the subject of social assistance, the social support was low. 2) the case of high social class, the social support was high. 3) there were no significant findings in the health status. 4) according to the analysis of correlation of health promotion behavior, the group with the most social support showed a high percentage of getting health examinations, attending health education, Hormone replacement therapies. However, the adjusted rate of smoking and drinking of trying to stop smoking and stop drinking resulted in low figures. The well-structured social support which the community can provide should be firstly given a priority for the group with low-income, low-educated, divorce or separation to death, and social assistance who are provided poor social support. Moreover, the social support service should be actively reflected to the health promotion program in the community.

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Development of a Theme-Selection Activity in 'Clothing Life' in Relation to SDGs for the Free Semester Program (지속가능발전목표(SDGs) 성취를 위한 의생활 자유학기제 주제선택활동 프로그램 개발)

  • Choi, Ye Ji;Park, Mi-Jeong;Shim, Huen-Sup
    • Journal of Korean Home Economics Education Association
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    • v.32 no.3
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    • pp.27-48
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    • 2020
  • The purpose of this study is to develop a theme-selection activity in 'clothing life' in relation to SDGs(Sustainable Development Goals) for the free semester program. After analyzing the contents of the 'clothing life' area of middle school home economics textbooks based on the SDGs, the content system and learning goals were set. Then a program was developed and the validity and the feasibility of the program were verified. As a result of the analysis of textbooks, the contents of 'clothing life' included all the three basic dimensions of social development, economic growth, and environment protection, yet focus only on 1 or 2 goals of each area. Based on the results of the analysis, a 'Righteous(義) Clothing(衣) Life' program was developed. The developed program consists of teaching-learning process plans and teaching-learning materials in eight class periods, including 'The future everyone dreams of' based on SDG12, 'Two faces of fast fashion' based on SDG1, SDG5, SDG8, SDG10, 'Living as Homoclimatus' based on SDG13, and 'The future we create' based on SDG9 and SDG12. Through the expert evaluation process for the developed program, the program's teaching and learning adequacy and feasibility were reviewed and feedback was actively reflected to correct and supplement the program. Through this study, it is expected that it will contribute to laying the foundation for establishing home economics as a subject that educates citizens who practice sustainable life, and a pivotal subject in education for sustainable development.

WHICH INFORMATION MOVES PRICES: EVIDENCE FROM DAYS WITH DIVIDEND AND EARNINGS ANNOUNCEMENTS AND INSIDER TRADING

  • Kim, Chan-Wung;Lee, Jae-Ha
    • The Korean Journal of Financial Studies
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    • v.3 no.1
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    • pp.233-265
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    • 1996
  • We examine the impact of public and private information on price movements using the thirty DJIA stocks and twenty-one NASDAQ stocks. We find that the standard deviation of daily returns on information days (dividend announcement, earnings announcement, insider purchase, or insider sale) is much higher than on no-information days. Both public information matters at the NYSE, probably due to masked identification of insiders. Earnings announcement has the greatest impact for both DJIA and NASDAQ stocks, and there is some evidence of positive impact of insider asle on return volatility of NASDAQ stocks. There has been considerable debate, e.g., French and Roll (1986), over whether market volatility is due to public information or private information-the latter gathered through costly search and only revealed through trading. Public information is composed of (1) marketwide public information such as regularly scheduled federal economic announcements (e.g., employment, GNP, leading indicators) and (2) company-specific public information such as dividend and earnings announcements. Policy makers and corporate insiders have a better access to marketwide private information (e.g., a new monetary policy decision made in the Federal Reserve Board meeting) and company-specific private information, respectively, compated to the general public. Ederington and Lee (1993) show that marketwide public information accounts for most of the observed volatility patterns in interest rate and foreign exchange futures markets. Company-specific public information is explored by Patell and Wolfson (1984) and Jennings and Starks (1985). They show that dividend and earnings announcements induce higher than normal volatility in equity prices. Kyle (1985), Admati and Pfleiderer (1988), Barclay, Litzenberger and Warner (1990), Foster and Viswanathan (1990), Back (1992), and Barclay and Warner (1993) show that the private information help by informed traders and revealed through trading influences market volatility. Cornell and Sirri (1992)' and Meulbroek (1992) investigate the actual insider trading activities in a tender offer case and the prosecuted illegal trading cased, respectively. This paper examines the aggregate and individual impact of marketwide information, company-specific public information, and company-specific private information on equity prices. Specifically, we use the thirty common stocks in the Dow Jones Industrial Average (DJIA) and twenty one National Association of Securities Dealers Automated Quotations (NASDAQ) common stocks to examine how their prices react to information. Marketwide information (public and private) is estimated by the movement in the Standard and Poors (S & P) 500 Index price for the DJIA stocks and the movement in the NASDAQ Composite Index price for the NASDAQ stocks. Divedend and earnings announcements are used as a subset of company-specific public information. The trading activity of corporate insiders (major corporate officers, members of the board of directors, and owners of at least 10 percent of any equity class) with an access to private information can be cannot legally trade on private information. Therefore, most insider transactions are not necessarily based on private information. Nevertheless, we hypothesize that market participants observe how insiders trade in order to infer any information that they cannot possess because insiders tend to buy (sell) when they have good (bad) information about their company. For example, Damodaran and Liu (1993) show that insiders of real estate investment trusts buy (sell) after they receive favorable (unfavorable) appraisal news before the information in these appraisals is released to the public. Price discovery in a competitive multiple-dealership market (NASDAQ) would be different from that in a monopolistic specialist system (NYSE). Consequently, we hypothesize that NASDAQ stocks are affected more by private information (or more precisely, insider trading) than the DJIA stocks. In the next section, we describe our choices of the fifty-one stocks and the public and private information set. We also discuss institutional differences between the NYSE and the NASDAQ market. In Section II, we examine the implications of public and private information for the volatility of daily returns of each stock. In Section III, we turn to the question of the relative importance of individual elements of our information set. Further analysis of the five DJIA stocks and the four NASDAQ stocks that are most sensitive to earnings announcements is given in Section IV, and our results are summarized in Section V.

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Research Trend Analysis of Publications in the Journal of Home Economics Education Association Using Network Text Analysis (네트워크 텍스트 분석을 이용한 한국가정과교육학회지 논문의 연구 동향 분석)

  • Lee, Yoon-Jung;Kim, Eun Jeung;Kim, Ji sun
    • Journal of Korean Home Economics Education Association
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    • v.31 no.4
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    • pp.1-18
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    • 2019
  • The purpose of this study was to analyze the research trend in home economics education using network text analysis method. The 586 research articles published in the Journal of Home Economics Education Association between July, 2003 and December 2018 were examined using Neckinger 4, a social network analysis software. The frequency and centrality measures(degree centrality, closeness centrality, and betweenness centrality) were calculated for the words appeared throughout the whole period, and the centrality analysis and LAD(Latent Dirichlet Allocation) were conducted for the four sub-periods. The results are as follows: first, the most frequently appeared words are parents, culture, unit, health, career, consumption, practicality, etc. The words such as parents and management scored high in degree centrality; parents and male students in closeness centrality; and male students and units in betweenness centrality. Second, when divided into four periods, the words such as education, family, purpose, class, middle school, and school appeared most frequently across the periods; but some words such as 'purpose' (in period 3 and 4), or 'process' (in period 4) were salient only in certain periods. Third, the words with high centrality were consistent regardless of the types of centrality within each period. Fourth, the topic analysis using LAD showed that curriculum, textbook, family healthiness, teaching-learning, evaluation, dietary life, appearance management, and consumption were the topics consistently appeared across all periods. The topics have become diversified and deepened. New topics such as teacher training and safety appeared in later periods, possibly due to the curriculum and national policy changes, and housing as a less represented topic is suggested as an area that needs further research attention. This study has implication in that it allows researchers to identify the major research interests and the trends in research by researchers in home economic education.