• Asia-Pacific Journal of Business
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• v.15 no.2
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• pp.207-222
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• 2024

Purpose - This study investigates whether the lagged price difference ratio between preferred and common stocks is related to the return and closing price of the preferred stock using three panel models. Design/methodology/approach - As a first step, we use a two-way fixed effect panel model with stationary preferred stock returns as a dependent variable. For robustness, we then apply the autoregressive distributed lag model (ARDL) and error correction model (ECM) with nonstationary closing prices of the preferred stocks as a dependent variable and compare the results of each model. The ARDL and ECM models provide an advantage of estimating a long-run equilibrium equation together if a long-run relationship exists between the two time-series variables compared to the fixed effect model. Findings - Our sample consists of 107 preferred stocks with at least four years of daily observations as of the end of December 2023. The coefficients of the error correction terms in the ARDL and ECM models are highly statistically significant, approximately -0.08. This indicates that the disequilibrium between the closing prices of common and preferred stocks adjusts by about 8% per day toward equilibrium. In all three models, the price difference ratio on day t-1 was statistically significant in explaining the preferred stock returns or closing prices on day t, implying that trading based on the previous day's price difference ratio is effective for one day. Research implications or Originality - Furthermore, the returns on preferred stocks are higher for firms with a lower proportion of foreign investors or a lower foreign market capitalization of preferred stocks. This suggests that foreign investors with informational advantages do not actively engage in profit-taking by trading preferred stocks, thus not narrowing the price difference. In summary, the recent surge in preferred stock prices is likely driven mainly by the irrational behavior of retail investors.

• Journal of Korean Academy of Nursing
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• v.32 no.6
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• pp.855-866
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• 2002

The purpose of study is to develop a home nursing care project model suitable for Korea's heath care system and policy directions for expansion and establishment of home nursing care. Method: The first, status of home nursing care program in medical institution and public health center was evaluated respectively in view of structure, process and performance. And then, issues of the program were analyzed in view of accessibility, safety, and sufficient supply. The second, demand projection of home nursing care according to income level and technical level of service that is needed to the subject was tried. In addition, the level of supply for home nursing care at present was estimated. The third, home nursing care program in advanced countries (Japan and U.S.A.) was examined. Result and Conclusion: Community-based home nursing care program is developed into public-operation model and private-operation model from above the sub-subject result. Functional network for referral system among related institutions is built up to meet various needs, regardless of accessibility to distance and economy. And prior settlements and policy directions for expansion and establishment of home nursing care are suggested.

• Knowledge Management Research
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• v.7 no.2
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• pp.35-52
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• 2006

Increasing competitive pressure, the constantly accelerating transformation of the economy, and a stronger focus on value creation have initiated the search for sustainable sources of competitive advantage in organizations. In this context, the concept of treating organizational knowledge as a valuable strategic resource has become quite popular recently. Knowledge has become the most critical component in the struggle for sustained competitive advantage and knowledge management (KM) has also been described for its possible role in creating sustainable competitive advantage. In order to examine the contingency between KM resources, KM strategies, and KM performance of organizations, a contingency model of KM, which is based on resource-based theory as well as knowledge-based theory, is developed from the information systems and strategic management literature in order to assess the following questions: (i) What KM resources affect the organization's KM strategies? (ii) Is there a relationship between KM strategies and organizational performance enhanced by KM? A detailed exploratory analysis of survey responses from 79 Korean companies provides the following significant findings: (i) This study found support for the proposed contingency model of KM; (ii) The organization's KM strategies are determined by social resources and its capabilities; (iii) An organization with a culture-based KM strategy is more likely to enhance organizational KM performance than an organization with a technology-based KM strategy.

• Journal of Information Technology Applications and Management
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• v.19 no.2
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• pp.117-134
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• 2012

Cluster industries are geographically concentrated and inter-connected by the flow of goods and services, which is stronger than the flow linking them to the rest of the economy. Photonics industries are one of the fastest growing high-tech industries in the world today. Especially, the city of Gwangju(South Korea) industrial cluster, a specialized complex in photonics industry, produced remarkable results in developing high-quality technologies since it launched the cluster program in 2005. Gwangju photonics industrial cluster will be ranked top level of the world photonics industry. In this sense, this study is aimed at proposing a new research model in which corporate performance influence factors of photonics industrial cluster (i.e., business environment, cooperative relationship, and industry-university-research institute partnership) affect absorptive capacity positively, leading to corporate performance eventually. This study developed a research model to explain the Korean photonics industrial cluster effects, and collected 91 survey responses from photonics based company managers in industrial cluster complex. To prove the validity of the proposed research model, PLS analysis is applied with valid 91 questionnaires. By employing PLS technique, the measurement reliability and validity of research variables are tested and the path analysis is conducted to do the hypothesis testing. In brief, the finding of this study suggests that corporate performance influence factors of photonics industrial cluster affect absorptive capacity positively, and corporate performance as well.

• The Journal of Fisheries Business Administration
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• v.51 no.3
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• pp.17-31
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• 2020

The purpose of this study is to identify economic situation on scale of tuna distant longline fishery by analyzing its economies of scale using the cost function. To analyze its economics of scale, the deep-sea fishing statistics were used from 2012 to 2016. In detail, the number of panels for estimating the cost function was 68 tuna distant longline vessels from 2012 to 2016, and the total number of observations over the five years were 340. As a final model, the two-way fixed effect model based on the translog cost function was adopted through the F test, the Breusch-Pagan test and the Hausman test. As a result of the analysis, it was found that tuna distant longline fishery between 2012 and 2014 was diseconomies of scale, the fishery between 2015 and 2016 was economies of scale. However, the economic indicators of the scale from 2012 to 2016 were almost close to zero, indicating that the constant returns to scale, the optimal scale, were reached. Therefore, in the situation where the amount of fishery resources in the world continues to decrease, it is necessary to prepare a method to obtain economic benefits through scale maintenance and reduction rather than indiscriminate scale expansion.

• Fire Science and Engineering
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• v.29 no.5
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• pp.67-72
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• 2015

Korea urbanized rapidly, and overpopulation with high growth of the economy has resulted in decrepit facilities scattered all cities. If there is a strong wind during a fire, the fire is rapidly spread by various factors. Korea cannot build a prediction model for urban fire combustion phenomena because there are no studies that physically explain the suitable flame phenomena for its buildings. This study built a model for the generation of fire brand and includes to scattering, fall, and ignition An experiment was done using the wind tunnel facilities of the Japanese Building Research Institute (BRI). The results were used to explain the behavior of fire brand, and reflected in the fire simulation model.

• Transactions of the Korean Society of Automotive Engineers
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• v.24 no.3
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• pp.319-329
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• 2016

Globally, many researchers have been trying to improve the fuel economy of a vehicle for satisfying future $CO_2$ regulation and minimizing air pollution problem. For the same background, diesel engine and vehicle system optimization using simulation models have been key technologies for the improvement of vehicle system efficiency. Therefore, in this study, calibration method for the air breathing system of a WGT diesel engine using mean value model has been composed for efficient engine and vehicle optimization simulation researches. And virtual WGT performances have been calculated for a 2 cylinder downsized diesel engine system. From these researches, the calibration method for the boost pressure and EGR rate of a virtual diesel engine related with WGT performances could be composed and some of technical issue related with downsized diesel engine could be investigated.

• East Asian Journal of Business Economics (EAJBE)
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• v.3 no.4
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• pp.9-15
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• 2015

The exchange rate is a very important macro variable that has influence on the whole economy and has, therefore, been the topic of many discussions amongst policymakers, academics and other economic agents. The issue of whether to have a fixed, pegged or floating exchange rate regime was highly debated during the 1970s. The purpose of this paper is to investigate what factors determine the exchange rate in Somalia. Quantitative research methodology has been employed to develop regression model using time series data for the period of 12 years. The regression model has been developed based on Quantity theory of money, purchasing power parity and uncovered interest rate parity theory. Somalia is on the countries where the highest exchange rate volatility exists; for example in 2012, the rate jumped 29% percent and two weak later dropped 21%, when Turkish humanitarian aid agencies injected the market a lot of U.S dollar. Based on my study using regression model for time series data of 12 years, the four factors are mainly attributable for the exchange rate volatility of Somalia; these factors include the balance of payment, inflation rate, money supply (mostly come from remittance and NGOs) and Bank profits.

• Journal of Physiology & Pathology in Korean Medicine
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• v.17 no.3
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• pp.611-616
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• 2003

Through the whole period of the twentieth century, Chinese Traditional Medicine has been affected by the political and cultural changes of Chinese society. Before the 1949 Communist Revolution, Chinese Traditional Medicine was regarded as a dark past which should be cleared off. But Chinese Traditional Medicine has been reevaluated as a national medicine and spreaded quickly since the 1949 Communist Revolution. Moreover, 'the bare foot doctor' who received short term training appeared during the Cultural Revolution. It enhanced the status of Chinese Traditional Medicine. At the same time, it was estimated as a model of the self-reliant development of Third World countries. But the direction of development of Chinese Traditional Medicine was changed again recently. Chinese government has adapted the open-economy policy since the late 1970s. Accordingly Chinese Traditional Medicine also has been changed. Nowadays it pursues the professional development strategy. This paper inquired the following research questions. First, what kind of historical changes in the development strategy of Chinese Traditional Medicine has happened? Second, how much Chinese Traditional Medicine has accomplished the professionalization? Third, what kind of problems Chinese Traditional Medicine has met in the process of professionalization? Finally, why Chinese Traditional Medicine has adapted the professional development strategy?

• Korean Journal of Adult Nursing
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• v.20 no.2
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• pp.187-199
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• 2008

Purpose: This study is to develop a hypothetical structural model of the quality of life of single aged women and to explain the compatibilities between the models and actual data. Methods: Ten theoretical variables were used to evaluate of the quality of life of single aged women. 300 of single aged women were selected as the subjects. A hypothetical prediction model of quality of life was tested by the covariance structure analysis with PC-LISREL 8.12. Results: Economy, religion activity, leisure activity, social support, self-esteem, depression and health prompting behavior were the significant variables which affected to the quality of life directly in the single aged women. But social support, self-esteem affected to them indirectly. Knowing perceived health status directly but it affected indirectly to the quality of life in single aged women. Conclusion: In this study, it was discovered that self-esteem was the most important factor to affect to the quality of life in single aged women and the next was the depression and health promoting behavior. As a result, it was discovered that age, economic status, self-esteem and depression were the significant factors to affect to the quality of life in single aged women.