• Title/Summary/Keyword: historical period

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Development and Evaluation of a Portfolio Selection Model and Investment Algorithm in Foreign Exchange Market (외환 시장 포트폴리오 선정 모형과 투자 알고리즘 개발 및 성과평가)

  • Choi, Jaeho;Jung, Jongbin;Kim, Seongmoon
    • Journal of the Korean Operations Research and Management Science Society
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    • v.39 no.2
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    • pp.83-95
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    • 2014
  • In this paper, we develop a portfolio selection model that can be used to invest in markets with margin requirements such as the foreign exchange market. An investment algorithm to implement the proposed portfolio selection model based on objective historical data is also presented. We further conduct empirical analysis on the performance of a hypothetical investment in the foreign exchange market, using the proposed portfolio selection model and investment algorithm. Using 7 currency pairs that recorded the highest trading volume in the foreign exchange market during the most recent 10 years, we compare the performance of 1) the Dollar Index, 2) a 1/N Portfolio which equally allocates capital to all N assets considered for investment, and 3) a hypothetical investment portfolio selected and managed according to the portfolio selection model and investment algorithm proposed in this paper. Performance is compared in terms of accumulated returns and Sharpe ratios for the 10-year period from January 2003 to December 2012. The results show that the hypothetical investment portfolio outperforms both benchmarks, with superior performance especially during the period following financial crisis. Overall, this paper suggests that a mathematical approach for selecting and managing an optimal investment portfolio based on objective data can achieve outstanding performance in the foreign exchange market.

The Interchange with the Northern Song and the Introduction of Jeonryunjang by Haejokuksa in the Early Koryo Dynasty (고려중기 혜조국사(慧照國師)의 대북송(對北宋) 교류(交流)와 전륜장(轉輪藏) 도입)

  • Lee, Kyung-Mee
    • Journal of architectural history
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    • v.16 no.6
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    • pp.101-120
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    • 2007
  • This paper aims at studying on the medium of cultural interchange regarding who did and how to introduced the new trend of architecture during the period of Koryo Dynasty. Before the era of Koryo Dynasty, Kyungjang(Sutra Pitaka, 經藏) was mainly centered in Kyeongnu with a substantial function of storage. In the early Koryo Dynasty, however, Daejangjeon(大藏殿), which was spatialized for worship, began to appear. Normally, fixed walls were installed and the Sutras were enshrined inside Daejangjeon, while Jeonryunjang (revolving wheel sutras), a type of rational bookshelf, was introduced, and a new trend became developed in Kyungjang construction. Jeonryunjang(revolving wheel sutras, 轉輪藏) is a dharma instrument with a rotational function so that one revolution gives an effect of reading the enshrined Sutra one time, and began to be created actively in the period of the Northern Song. It is considered that the introduction of Jeonryunjang(revolving wheel sutras) to Daejangjeon was resulted from Haejokuksa(慧照國師) Damjin(曇眞) who visited the Kangnam areas in the Northern Song at that time. The Kangjeol areas in the Northern Song, where Damjin concentratively itinerated three times, were the place in which Jeonryunjang was created in many temples. Since Damjin, historical materials and excavated data regarding constructing Jeonryunjang have been discovered in the Buddhist temples, which are related to his pupils and dharma lineage. The only existing Jeonryunjang of Yongmusa Temple in Korea is the one that Joeung Daesunsa, who succeeded to the dharma lineage of Haesokuksa, promoted, and supports strongly such introduction of Jeonryunjang by Haesokuksa.

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A Study on Relationship between Fishing Rights Conflict and Fisheries Cooperatives Establishment in Tongyeong during the Period of Japanese Colonial Rule (일제강점기의 통영인근지역 어업권 분쟁과 어업·수산업관련 협동조합 설립에 대한 역사적 고찰)

  • Lee, Dong-Ho
    • The Journal of Fisheries Business Administration
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    • v.46 no.1
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    • pp.41-62
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    • 2015
  • Though the debate of the establishment time, place and characteristic of the first fisheries cooperatives in Korea has been existed, it is clear that they had been established in the neighborhood of Tongyeong during the period of Japanese colonial rule. But the objective, motive and historical background of the first fisheries cooperatives are still slightly vague. To explain and explore that of fisheries cooperatives, over 1,000 articles of media, about 100 document of the Japanese government-general of Korea and the annals of the Joseon dynasty, many of research paper and others were included and refined. Through the result of that process, three core factors were founded that affect both the emergence of fisheries cooperatives and relationship of the them. The first one is about the royal family's fishing area where in the neighborhood of Tongyeong. The next one is Kentaro Kashii who was called king or devil of the Korean fisheries industry and the last one is fishermen and their organizations including fisheries cooperatives. Some of the above and the fishing rights conflict that make a guidance for understanding them has not been clearly mentioned. The result of this study shows that the birth of the first fisheries cooperatives were caused by not only the Japanese government-general of Korea but mainly Korean fishermen's voluntary activity and free will against fishing rights conflict between them. And both of the first fisheries cooperatives had somewhat difference in their constitution of organization and their characteristics but it was a tragic irony that the more exploitation and despoliation were conducted by Japanese government-general and Japanese capitalist the more movement and activity of Korean were frequently and severely occurred. Even though the findings and results of this study would be a proof and helpful material for understanding the establishment and their activity of fisheries cooperatives in Tongyeong, more research and contribution would be need by members of fisheries academic and business world.

A Historical Study of Textiles - With an Emphasis on Korean Cotton Fabrics - (직물(織物)의 역사적(歷史的) 고찰(考察) - 우리나라의 선직물(線織物)을 중심(中心)으로 -)

  • Lee, Soon-Hong
    • Journal of the Korean Society of Costume
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    • v.5
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    • pp.65-81
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    • 1981
  • I referred to documents to study the origin and the progressing process of textiles. Cotton seeds were first imported from China by Mun, Ik Jem at the end of the era of Koryeo, and cotton had several different names such as mok-myen, cho-myen, gil-pae, baek-chep-za, tap-po, ban-ki-wha, dong-yep-po and so on. Since the era of the Three Kingdoms, people had heard of cloth of superior quality but it was not certain whether it was imported from China or made in our country. It seems that cotton was not made during that period, white silk, hemp cloth, and ramie fabric were produced. At that time, linen was called cotton by mistake. After importing cotton seeds from China, all the people began to plant them and made their clothes from them. At the beginning of the Yi Dynasty, the weaving technique was dependent on China. However, the government persuaded farmers to plant them. At that time cotton was used as a means of purchasing instead of money. Silkworms raising started during the era of the Three Kingdoms and it was widely spread at the beginning of the Yi Dynasty. In order to encourage sericulture' spinning and weaving instruments were installed in the royal palace and the queen with sher court maids demonstrated how to spin and weave. The activity was named "chin-jam-ye." Linen was the representative of all textiles and it was also very popular. The technique of weaving had already been highly developed at the era of Silla. During the era of the Three Kingdoms people used "bang-chu-cha" as a weaving instrument. They discovered several new hand machines in the period of the Yi Dynasty: they were instrument of removing seeds, spinning wheel, hemp cloth loom and so on, and we find the remains of them these days.

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The Study on the Tea Ceremony and the Costumes for the Tea Ceremony in Korea - Focusing on Royal Tea Ceremony - (우리나라의 다례와 다례에 관한 복식 - 궁중다례를 중심으로 -)

  • 서옥경
    • Journal of the Korean Society of Costume
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    • v.54 no.5
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    • pp.59-70
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    • 2004
  • Tea has influenced the basis of Korean culture in history for a long time. The dissertation aims to establish the history of the costumes for the tea ceremony based upon historical data. During Thee Kingdom Period. there was a ceremony called Tea Offering Ceremony In Silla times, there were Tea Offering Ceremony and Royal Shrine Tea Ceremony: In Corea age, they served Tea Presenting Ceremony: In Chosun age. tea ceremony was a part of Tea Presenting and was held during official greeting feasts for foreign envoys and during feast ceremonies at the court. The costumes for the tea ceremony by period are as fellows : In Corea times, king and all the government officials wore official court attire for Enthronement Ceremony (Ka-Rye). For Official Guest Reception Ceremony (Bin-Rye), king wore official costume, but in case the envoy was not carrying an Official King's Letter, king wore Ordinary Costume. In Chosun times, both king and prince crown wore ordinary costumes of winged silk crowns and royal robes (with golden dragon patterned segment) for Envoy Reception Tea Ceremony. In time of royal feast ceremony, king and prince crown wore ordinary costumes of winged silk crowns and royal robes, while queen wore red purple silk robe (red purple embroidered segment). Chosun's royal court occasionally held tea ceremonyat royal feast ceremonies during which king also wore ordinary costume of winged silk crown and royal robe as a costume to attract good fortunes. In case of ceremonies for bad occasions, a tea ceremony was included in Royal Inquisition procedures (joong-hyung-ju-dae-eui) during which king wore simple costume (Pyun-Bok).

Location of Recent Micro-earthquakes in the Gyeongju Area (최근 경주지역 미소지진 진원 위치)

  • Han, Minhui;Kim, Kwang-Hee;Son, Moon;Kang, Su Young;Park, Jung-Ho
    • Geophysics and Geophysical Exploration
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    • v.19 no.2
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    • pp.97-104
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    • 2016
  • Small to large earthquakes have been reported in Gyeongju and its vicinity in southeast Korea during historical period as well as instrumental observation period. We identified and located more than 300 earthquakes that occurred between January 2010 and December 2014 in a $20km{\times}30km$ area, but were unreported because of their small magnitudes. We used the Joint Hypocenter Determination (JHD) method to minimize the influence of the differences between the actual earth structure and 1-D velocity model for earthquake locations. The potential relationship between the previously reported Quaternary faults and the earthquake hypocenters was investigated. Many micro-earthquakes were found to be located in the southern segment of the Yeonil Tectonic Line, the Seokup fault, and the Waup basin boundary faults.

A Study on the Position and Preservation Situation of Gaeksa·Dongheon in Choongcheong Suyeong at the end Joseon Dynasty (한말 충청수영 객사·동헌의 위치와 존치상태 연구)

  • Kim, Myung-Rae
    • Journal of architectural history
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    • v.27 no.2
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    • pp.101-112
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    • 2018
  • The study on the government office building in Chungcheong Suyeong(忠淸水營) is very rare. How were the Gaeksa(客舍) and Dongheon(東軒) which are representative government office buildings in Suyeong, maintained and what was the aspect of it, while passing through the upheaval period of the end of Joseon(朝鮮)? And where was the original place and was there any change in use? It is so regrettable that these subjects were not figured out yet. So I thought it is very important task to figure out its actual aspect by investigating the maintain state of the Gaeksa and Dongheon and the change of their places. So this study examined the related historical records and, based on it, analyzed "Ocheon GoonJi(鰲川郡誌)" in various view points. Through this analysis, this study could figured out the maintain aspect of the gaeksa and dongheon and the change of their places, and be able to deduce the other change of the government office building. This study could assume the places of each government office buildings by comparing this investigated result and the analyzed result of the original cadastral map in various view points. As the result of the study done by this method, this study confirmed the maintain state of the Gaeksa and Dongheon in Chungcheong Suyeong while passing through the upheaval period of the end of Joseon. And this study figured out the places of the Gaeksa and Dongheon, and be able to confirm their places by the lot number on the original cadastral map. Along with this, this study could estimate Jo(趙) family's confliction with the residents at that time by verifying the lot numbers of the Sapaeji(賜牌地) which this family received from the government. And among the names of the government office buildings, for the Jangkyocheong(將校廳) which is in dispute because of the name, this study figured out that the author of "Ocheon GoonJi" made a mistake in writing Dongheon.

GPS/RTS data fusion to overcome signal deficiencies in certain bridge dynamic monitoring projects

  • Moschas, Fanis;Psimoulis, Panos A.;Stiros, Stathis C.
    • Smart Structures and Systems
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    • v.12 no.3_4
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    • pp.251-269
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    • 2013
  • Measurement of deflections of certain bridges is usually hampered by corruption of the GPS signal by multipath associated with passing vehicles, resulting to unrealistically large apparent displacements. Field data from the Gorgopotamos train bridge in Greece and systematic experiments revealed that such bias is due to superimposition of two major effects, (i) changes in the geometry of satellites because of partial masking of certain satellites by the passing vehicles (this effect can be faced with solutions excluding satellites that get temporarily blocked by passing vehicles) and (ii) dynamic multipath caused from reflection of satellite signals on the passing trains, a high frequency multipath effect, different from the static multipath. Dynamic multipath seems to have rather irregular amplitude, depending on the geometry of measured satellites, but a typical pattern, mainly consisting of a baseline offset, wide base peaks correlating with the sequence of main reflective surfaces of the vehicles passing next to the antenna. In cases of limited corruption of GPS signal by dynamic multipath, corresponding to scale distortion of the short-period component of the GPS waveforms, we propose an algorithm which permits to reconstruct the waveform of bridge deflections using a weak fusion of GPS and RTS data, based on the complementary characteristics of the two instruments. By application of the proposed algorithm we managed to extract semi-static and dynamic displacements and oscillation frequencies of a historical railway bridge under train loading by using noisy GPS and RTS recordings. The combination of GPS and RTS is possible because these two sensors can be fully collocated and have complementary characteristics, with RTS and GPS focusing on the long- and short-period characteristics of the displacement, respectively.

Decision-Making of Determining the Start Time of Charging / Discharging of Electrical Vehicle Based on Prospect Theory

  • Liu, Lian;Lyu, Xiang;Jiang, Chuanwen;Xie, Da
    • Journal of Electrical Engineering and Technology
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    • v.9 no.3
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    • pp.803-811
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    • 2014
  • The moment when Electrical Vehicle (EV) starts charging or discharging is one of the most important parameters in estimating the impact of EV load on the grid. In this paper, a decision-making problem of determining the start time of charging and discharging during allowed period is proposed and studied under the uncertainty of real-time price. Prospect theory is utilized in the decision-making problem of this paper for it describes a kind of decision making behaviors under uncertainty. The case study uses the parameters of Springo SGM7001EV and adopts the historical realtime locational marginal pricing (LMP) data of PJM market for scenario reduction. Prospect values are calculated for every possible start time in the allowed charging or discharging period. By comparing the calculated prospect values, the optimal decisions are obtained accordingly and the results are compared with those based on Expected Utility Theory. Results show that with different initial State-of-Charge ($SoC_0$) and different reference points, the optimal start time of charging can be the one between 12 a.m. to 3 a.m. and optimal discharging starts at 2 p.m. or 3p.m. Moreover, the decision results of Prospect Theory may differ from that of the Expected Utility Theory with the reference points changing.

A Study of Ruff Collar Reflected on the Late 20th Century Fashion (현대(現代)패션에 나타난 러프 칼라에 관(關)한 연구(硏究))

  • Yun, Sun-Mi;Bae, Soo-Jeong
    • Journal of Fashion Business
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    • v.6 no.4
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    • pp.32-45
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    • 2002
  • The purpose of this study is, to renew understanding the aesthetic value of a ruff collar and to expand the border of creation in designing as the source of inspiration being applied to an retro style by inquiring various ruff collars re-illuminated in the present-day fashion trend. The ruff collar investigated through the above historical contemplation became the source of inspirations in the current retro trend and was variously modified in modern fashion. In the 1980s, we can find a dignified and feminine image in graceful and exquisite suits or dresses. Especially, the spanish round ruff of the 2st period appeared on works by a lot of designers. From the application by designers like John Galliano in the latter half of the 80s, we can be well aware that the meaning of decoration was newly altered. In the 1990s, the ruff collar was shown in various fashion style, but it was what was reborn as a factor of modern fashion through a liberal compromise and harmony. Various style was shown from exaggeratedly swelling one to smaller one, which were more diversely applied than that of the 80s. A Medici collar and a Queen Elizabeth collar were also displayed being fitted to a modern sense by Vivienne Westwood and Louis F raud. A ruff in the 2000s was settled as a factor of modern fashion, exposing on works of designers more often than in the 1980s and 90s. The spanish round ruff appeared on garments, while a Medici collar and a Queen Elizabeth collar went out of sight. A new form of the ruff was regenerated by extreme magnification and simplification, and several designers like Issey Miyake and Alexander Mcqueen brought forward a new way in materials and technical skills. According to this research, a ruff collar developed as a fashion factor which characterizes a certain period of time, reflecting the aesthetical sense of Renaissance and turning into various and distinct forms. Afterwards, it exerted influence on modern fashion. This is offering the source of inspiration to contemporary designers.