• Proceedings of the Korean Institute of Navigation and Port Research Conference
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• 2014.10a
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• pp.56-61
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• 2014

Standing in front of the huge benefits that shipping industry brings about in economy, politics and society of a country, many countries, especially the developing countries have strived hard to invest and develop their shipping industry (if any) by many methods such as economic reform act, tax allowance or even raising capital from domestic and foreign resources which seems very difficult to implement in the 21st century. According to analysis of A. Gerschenkron - a Russian economic historian at around 60 years ago, developing countries, who regarded shipping as an industry of strategic value with multi-dimensional affects for economic development, had utilized their backward advantages and imported modern technology, capital and skillful labor from more advanced countries in the course of fast industrialization in their countries. In fact, Gerschenkron model has applied in shipping industry of many backward countries. Korea's industrialization in shipping analyzed by Tae-Woo Lee (1996) could considered as a good example, in which the country makes use of policies on capital of tonnage finance, ideology, labor management in order to develop the industry. In this paper, the authors try to find the applicability of the Gerschenkron model to the shipping industry in developing countries, especially in Vietnam. And some questions which are necessary for the author's next paper about developing strategies to shipping industry in developing countries will be asked.

• World Technopolis Review
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• v.3 no.1
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• pp.39-54
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• 2014

Recently, investment to basic science has been increased and infrastructure of science and technology has been expanded in developed countries like U.S.A, UK and Japan to foster high-tech industries. Science and research parks are built and under operation to acquire national competitive power and to activate regional economy over the world today. It is argued that more synergy effects are generated when science and research parks are operated in cooperation with related organizations and facilities such as firms, universities, research institutes and governments than it is operated by one organization. The aim of this paper is to develop a governance model of science and research parks. One comprehensive model and three individual governance models were developed according to the structure and relations of industry-science/research park-supporting organization interactions. When governance model of science and research parks is established and properly managed, national development capacity would be greatly enhanced through the acceleration of technology transfer, industrial production rise and enhancement of efficiency in the area of R&D and supporting system etc. One of the key factors in building governance system for science and research parks is establishing a control tower that supervises governance system comprehensively and systematically.

• International Journal of Automotive Technology
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• v.8 no.5
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• pp.555-562
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• 2007

The Variable Valve Timing(VVT) system for high performance is a key technology used in newly developed engines. The system realizes higher torque, better fuel economy, and lower emissions by allowing an additional degree of freedom in valve timing during engine operation. In this study, a model-based control method is proposed to enable a fast and precise VVT control system that is robust with respect to manufacturing tolerances and aging. The VVT system is modeled by a third-order nonlinear state equation intended to account for nonlinearities of the system. Based on the model, a controller is designed for position control of the VVT system. The sliding mode theory is applied to controller design to overcome model uncertainties and unknown disturbances. The experimental results suggest that the proposed sliding mode controller is capable of improving tracking performance. In addition, the sliding mode controller is robust to battery voltage disturbance.

• Journal of Navigation and Port Research
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• v.31 no.2
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• pp.133-139
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• 2007

Relative importance of maritime transport that takes charge of main current of freight in country' economy is very large. Especially, port and facility carry out important role which treats freight of import and export smoothly and improves international trade as turning point, to achieve key role on connection and association between sea and land. For such reason, enlargement of port facilities or development of port needs to grasp exactly the utilization of port, attributes and selective factors of shipper. On the other hand, the amounts of physical distribution on Mokpo port located in Korean west coast are increasing, with fast economic growth of East Asian including China. This study uses discrete choice model that is measuring to analyze attribute and characteristic of Mokpo port, and analyzes port selection by decision factors of shipper. This paper composed a questionnaire using the result of preceding research, to decide port selection factor among competitive ports. Through factor analysis on a basis of the questionnaire' result, five principal components were extracted. These are resorted out by Logit model, to grasp competitive elements of port. This research fin present direction which raises competitive power of ports in west coast of Korea, especially on alternative and concentration of middle-class port as Mokpo may be useful.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.11
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• pp.1-10
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• 2021

This paper compares the performance of Fama-French three-factor and five-factor models using a dataset of 20 Pakistani commercial banks for the period 2011 to 2020. We focus on an emerging economy as the findings from earlier studies on developed countries cannot be generalized in emerging markets. For empirical analysis, twelve portfolios were developed based on size, market capitalization, investment strategy, and growth. Subsequently, we constructed five Fama-French factors namely, R_M, SMB, HML, RMW, and CMA. The OLS regression technique with robust standard errors was applied to compare the predictive power of both the Fama-French models. Further, we also compared the mean-variance efficiency of the Fama-French models through the GRS test. Our empirical analysis provides three unique and interesting findings. First, both asset pricing models have similar predictive power to explain the expected portfolio returns in most cases. Second, our results from the GRS test suggest that there is no noticeable difference in the mean-variance efficiency of one asset pricing model over the other. Third, we find that all factors of both Fama-French models are statistically significant and are important for explaining the volatility of expected commercial bank returns in the context of Pakistan.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.5
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• pp.345-354
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• 2021

With the evolution of containerization and globalization of supply chains, aspects of port functions have made the transition from the sea to the inland region that forms the dry port. To explore the relationship between dry ports and regional economic development, this study uses a gravity model and forecast model to analyze 1,040 observations in 104 cities (22 dry port cities) along the Yangtze River Economic Belt (YREB) from 2008 to 2017. The model includes economic variables, logistics variables, foreign relations variables, and human capital variables. It was found that the dry port is positively correlated with trade volume. Compared with a city without a dry port, the trade volume of a city with a dry port will increase 0.099 times. It can be concluded that a dry port is crucial for the economic development of the YREB. It was also found that per capita GDP as an economic variable, road area and rail number as logistics variables, and foreign relation variables are positively correlated with trade volume, while the human capital variable has no significant effect on trade volume. In addition, governmental policy implications are addressed from the aspects of dry port and industry cluster caused by foreign investment.

• Asia-Pacific Journal of Business
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• v.9 no.4
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• pp.181-199
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• 2018

The purpose of this study is to verify the extended technology readiness and acceptance model according to the characteristics of technology for the continuous use motive of SNS users. In particular, we conducted a comparative study on the differences in technology readiness and acceptance model between countries through the empirical analysis of the users of SNS in Korea and China with different technological and cultural environments. The results of this study are as follows; First, Positive technology readiness index has a positive effect on performance expectancy, effort expectancy, social influence, and facilitating conditions, which are variables of UTAUT. Positive technology readiness also has a positive effect on Enjoyment, which is added in this study. Second, negative technology readiness index has negative effect on performance expectancy and social influence, which are variables of UTAUT. In addition, negative technology readiness index has not a significant effect on enjoyment, which was added in this study. Finally, the relationship between technology readiness index, motivation for technology acceptance, and continuously intention to use has a partially different influence on the Korean and Chinese users. Based on the results of this study, this study suggested academic implications and practical implications.

• Journal of Urban Science
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• v.7 no.2
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• pp.1-9
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• 2018

In this study, Analysis of DRT model and contribustion based on the case of local governments adopting the Demand Responsive Transit(DRT) in order to provide transportation in public transportation service weak area. Based on the case of Yeoju Area, the contribution of the DRT was analyzed. The DRT model was established as a fixed and call type model with taxi and bus transportation. Based on the results of the happy taxi service in Yeoju Area in 2016, the contribution of DRT was analyzed. According to the happy taxi performance of Yeoju city, it was introduced to 27 villages, and operated 4,188 times. And 9,111 people used it and Yeoju Area supported about 53 million Won. The contribution of local governments was analyzed in terms of local government, users, and social aspects. On local government aspects, we analyzed the budget cuts and complaints resolution. On the user aspects, we analyzed waiting time reduction, walking time reduction, travel time reduction, comfort, punctuality, and stability. On social aspects, we analyzed taxi and regional economy activation, and convenience of mobility.

• Journal of the Korea Society of Computer and Information
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• v.24 no.1
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• pp.41-47
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• 2019

In this paper, we propose a new batter evaluation model that reflects the skill of the opponent pitcher in Korean professional baseball. The model consists of evaluation factors such as Run Value, Contribution Score and Ball Consumption considering the pitcher grade. These evaluation factors are calculated as different data. In order to include the evaluation factors having different characteristics into one model, each evaluation factor is weighted and added. The genetic algorithms were used to calculate the weights, and the data were based on the 2016 records of Korea Professional Baseball and the salary data of the players of 2017. As a result of calculation of the weight, the weight of the Run Value was high and the weight of the Contribution Score was very low. This means that when calculating the annual salary, it reflects much of the expected score according to the batting result of the batter. On the other hand, the contribution score indicating the degree to which the batting result contributed to the victory of the team according to the state of the economy is not reflected in the salary or point system.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.4
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• pp.39-52
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• 2022

This study examines whether accounting conservatism can support real earnings management by reducing accrual earnings management techniques. The net impact of conservative reporting on earnings management is also analyzed. It is assumed that moderating the role of conservative financial reporting during uncertainty can mitigate earnings management practices. For our analysis, 5354 firm-year observations for the period 2007-2020 of nonfinancial companies listed on the Pakistan Stock Exchange are applied. To measure conservatism in the non-financial sector of Pakistan, Khan and Watts' (2009) model is used to provide evidence that conservatism is a way to restrict earnings management during uncertainty. "Prospector" and "Defender" Business strategy is applied for measuring firm-level uncertainty. To measure accrual earnings management Modified Jones (1995) model and Dechow and Dichev (2002) approach and Kasznik (1999) model are applied, and for real earnings management Roychowdhury model is applied which follows three approaches to measure real earnings management i.e. cash flow manipulation, Overproduction, and discretionary expenses. The estimations support our hypothesis by providing statistically significant proof that conservative financial reporting in a developing economy like Pakistan may be used to overcome the net impact of earnings management during uncertainty. Our results provide critical and practical implications for investors, researchers, and standard setters.