• KDI Journal of Economic Policy
• /
• v.33 no.1
• /
• pp.93-124
• /
• 2011

In this paper, we claim the asymmetric response of asset returns on the past asset returns' signs may be explained from the market behavioral portfolio choice of investors. For this, we admit the anchor and adjustment mechanism of investors which partly explains the momentum in the asset prices. We also claim the prospect theory based on the risk aversions may simultaneously work with the anchor and adjustment effect, whenever the lagged asset return was positive and investors accrued the gain. To identify these effects empirically in a threshold autoregressive model, we suppose the risk aversions inducing the volatility effect is related with the past volatility of asset returns. In application of suggested method to Korean stock and real estate markets, we found these effect exist as expected.

• Journal of Environmental Policy
• /
• v.2 no.2
• /
• pp.41-63
• /
• 2003

CDM(Clean Development Mechanism) project is said to be a mechanism, which profits both the investing country and the host country, while additionally contributing to the reduction of greenhouse gases of the earth as a whole. However in reality, most of the proposed projects do not end up in agreement because of the problems related to differences in recognition between the investing country and the host country of the CDM project. This outlines the background for this research which proposes a new design of institutional arrangements of CDM projects in the Northeast Asian region, mainly Japan, China and Korea. In addition, we investigate the feasibility of the proposed design. The research firstly focuses on the reduction in transaction costs that the participation of Korea will have on a Japan-China CDM project. This paper further emphasizes the potential gains that would materialize if a CDM project involved the whole Northeast Asian region, and not only one country. Our research suggests that an approximate reduction of 23% in transaction costs, and about 4% reduction in the total costs of a CDM project can be expected to follow the Korean participation. In addition to decreasing costs we find that a Korean involvement in a CDM project with Japan will lead to efficiency gains illustrated by a higher increase in the IRR(Internal rate of return) in a Japan-Korea project(11.45% to 12.21%) compared to an IRR incresement of 10.57% to 11.27% for a pure Japanese CDM project. Similar results of a rise in the IRR is found for the whole investment period of 20 years. We can hence conclude that Korean participation in a Japan-China CDM project would improve the implementation possibilities of CDM project in the Northeast Asia region.

• Journal of Korea Society of Industrial Information Systems
• /
• v.21 no.5
• /
• pp.73-83
• /
• 2016

NAVER provides search frequency data of search terms via its DataLab service (http://datalab.naver.com/). Using this data, this paper examines the relation between the search frequency of firm's name and its future stock returns. Our results show that the search frequency of firm's name is a new investor attention measure, which is different from previously explored attention measures such as extreme returns, turnover, etc. Firms that go through higher search frequency this week tend to have higher returns in the next week. We do not find return reversal in the long run for the firms with higher search frequency. Furthermore, the extent to which search frequency affects stock returns becomes more pronounced following market-wide attention grabbing events. Our results indicate that search frequency incorporates information for future stock returns.

• The Journal of Korean Institute of Communications and Information Sciences
• /
• v.31 no.7B
• /
• pp.660-667
• /
• 2006

Voice over Wireless LAN (VoWLAN) is defined as a communication service which transmits voice over wireless LAN. Due to its capability of providing high quality service while reducing communication costs, the VoWLAN is expected to be widely introduced to hospitals, hotels, and many more industry sectors. However, despite the increased interest in the new service, there has been limited research on the economic assessment of deploying VoWLAN. This paper provides a systematic and quantitative approach to the return on investment (ROI) analysis of VoWLAN service. We first analyze the domestic and international market trend of VoWLAN. Then, implementing scenarios of VoWLAN and corresponding alternatives are established. For each scenario, cost and benefit analysis is conducted. The proposed framework is implemented by using VBA program. To validate the result of the analysis, a case study is also conducted.

• Journal of the Korea Academia-Industrial cooperation Society
• /
• v.17 no.8
• /
• pp.691-697
• /
• 2016

Remanufacturing refers to restoring a used product to an acceptable condition for resale in the market of remanufactured items. In this paper, we deal with the acquisition price and remanufacturing decision for remanufacturing systems in the case where the demand for the remanufactured product in a single period is known and the return quantity of the used product is determined by its acquisition price. The quality of the acquired used product is categorized into two classes, high and low, through inspection and different qualities incur different remanufacturing costs. The probability that the acquired used product is categorized as high class can be a constant or random variable. We derive the expected total cost functions, obtain the optimal solutions, and interpret the managerial meaning of the optimal solution for each case. The sensitivity of the optimal solution with respect to the variation of the inspection cost and uncertainty of the quality of the used product is investigated through numerical examples.

• Journal of Environmental Impact Assessment
• /
• v.26 no.6
• /
• pp.445-456
• /
• 2017

For impact assessment of inundation in coastal area due to sea level rise (SLR), model for estimating future peak water level was constructed using observed mean sea level (MSL), storm surge level (SSL) data and calculated tide level (TL) data. Based on time series analysis and quadratic polynomial model for SLR and Monte-Carlo simulation for IC, SSL and TL, 100-year return peak water level is expected to be 2.3, 2.6, 2.8m, respectively (each corresponding to year 2050, 2080, 2100). Further analysis on future potential inundation area showed U-dong, Yongho-dong, Songjeong-dong, Jaesong-dong to be at high risk.

• Journal of Korean Physical Therapy Science
• /
• v.3 no.1
• /
• pp.919-927
• /
• 1996

Recently sports injuries are increasing due to the development of sports leisure industries as well as the increase of exercising population, and the study for sports injuries is needed more than before. Then the author studied the reasons for injuries, incidence rate, sites and sorts of sports injuries for the middle and high school football players during one year period from Jan. to Dec. 1994. The study subjects were 319 middle and high school players in Pusan and the method was questionnaire method. The results were as follows; 1. The average injury rate due to football play was 3.3 times per person for the 319 subjects during the last one year, and it was highest in goalkeeper as 4.6 times by position. 2. 68 % of the subjects did not receive periodic health examination, 74.9 % wore body protectors. The sports injuries due to football play occurred most commonly in soil play-ground(79.6 %), during training(52.3 %), and in winter time(33.7 %). 3. The commonly occurred injuries by motion were coalition(39.2 %), tackle(12.9 %), dribble (11.4 %) in order; those by sorts were contusion(34.4 %), sprain (32.9 %), spasm(9.0 %) ; and those by body portions lower extremities(82 %), trunk(17.6 %), upper extremities(12.5 %). 4. The frequently used treatment area was home care as in 42.7 % ; treatment methods were physical therapy, acupuncture/moxacautery, rest, operation in order; choices of treatment method were recommendation by coach/manager, and that by medical professional was the lowest as in 2.2 %. 5. If sports injury occurred during play, coach or manager let the players take rest in 56.2 %, but emergent management by medical professional was done only in 1.9 %. The return to play was decided mostly by the player himself(52.8 %), but that decided by a doctor was only in 1.0 %. In conclusion, to lessen the sports injuries due to football play, annual physical check-up, strengthening of play rules, improvement of playground, conditioning exercise, regulation of body protectors, and preventive training for expected injuries behaviors should be done and the decision to return to play and emergent management should be done by a medical professional as well. Football player, sports injury, injured body portions, sorts of injury, treatment method.

• Journal of Korean Society of Rural Planning
• /
• v.26 no.2
• /
• pp.39-49
• /
• 2020

This study was attempted to grasp the push-pull factors of urban to rural migrants in relation to services and infrastructure of rural welfare and culture. Online and offline survey were conducted for urban residents who were willing to return to the rural area and those who were already returning to the rural area. In the fields of health care, social welfare, and education, it was found that the satisfaction level of urban-to-rural migrants was relatively higher than those of latent urban-to-rural migrants. In the field of culture, leisure and sports, the level of satisfaction and concern were similar, so it was found that the expectations for the field were relatively high before returning rural area. As for the agreement degree to expand support, the demand for emergency medical facilities and dementia care program was the highest, and the demand for health care was found to be relatively high. The results of the survey on the top priority items indicate that latent urban-to-rural migrants require support of facility and space item and expansion of program item, and urban-to-rural migrants have high demand for expansion of program item in all field except healthcare field. The results of this study are expected to provide useful information for establishing the direction of the rural area development project in connection with the revitalization of policy of people return to rural area.

• Journal of the Korea Society of Computer and Information
• /
• v.24 no.10
• /
• pp.25-32
• /
• 2019

In this paper, we propose a method to apply the attack surface expansion through decoy traps to a protected server network. The network consists of a large number of decoys and protected servers. In the network, each protected server dynamically mutates its IP address and port numbers based on Hidden Tunnel Networking that is a network-based moving target defense scheme. The moving target defense is a new approach to cyber security and continuously changes system's attack surface to prevent attacks. And, the attack surface expansion is an approach that uses decoys and decoy groups to protect attacks. The proposed method modifies the NAT table of the protected server with a custom chain and a RETURN target in order to make attackers waste all their time and effort in the decoy traps. We theoretically analyze the attacker success rate for the protected server network before and after applying the proposed method. The proposed method is expected to significantly reduce the probability that a protected server will be identified and compromised by attackers.

• Journal of Navigation and Port Research
• /
• v.45 no.3
• /
• pp.87-94
• /
• 2021

The IMO has adopted emission standards that strictly restrict the use of bunker C oil for vessels. Accordingly, research and bunkering pilot projects for LNG fueled ships are being actively carried out, which is expected to substantially reduce environmental pollution. In this study, we have adopted the turret moored Floating LNG Bunkering Terminal (FLBT) designed to receive the LNG from LNGCs and to transfer LNG to LNG bunkering shuttles in ship to ship moored condition. Numerical simulations have been performed with a 1-year return period of wind, wave, and current. Damping values of numerical model were adjusted from the results of model tests to obtain accurate simulation results. The results confirm safe berthing operation during the 1-year return period of environmental condition. Safety depends on the direction of environment, with increasingly stable operation facilitated by the application of heading-control function of FLBT to avoid beam-sea conditions.