• 제목/요약/키워드: information share

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Information Cascade and Share Market Volatility: A Chinese Perspective

  • Hong, Hui
    • The Journal of Asian Finance, Economics and Business
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    • 제3권4호
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    • pp.17-24
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    • 2016
  • The purpose of this paper is to understand the underlying dynamics for the share market bubbles in China during the most recent decade. By using the behavioral finance theory and the Shanghai Composite index prices during the periods from 2005 to 2008 and from 2014 to 2015 as the study samples, we find that the large volatilities in the Chinese share market are closely related to information blockage, which impedes share prices to timely respond to economic conditions as well as external shocks and increases (decreases) the demand of shares when the supply is difficult to adjust. Although the Chinese government has introduced a series of programs designed to increase more reliable information to the public, the share market still tends to confront issues of information asymmetry. The potential reason is that the reforms did not change the long-stand situation in China, where individuals or groups related to government bureaucracy who play a dominant role in the society are given priority to gain access and obtain information that benefits. By identifying the main reasons for the large volatilities in the market, policy makers are given advice as to which areas they may need to focus on to improve future market performance.

t-(v,k,1) 조합 디자인 기반의 데이터 분산 관리 방식 (Distributed Data Management based on t-(v,k,1) Combinatorial Design)

  • 송유진;박광용;강연정
    • 정보처리학회논문지C
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    • 제17C권5호
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    • pp.399-406
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    • 2010
  • 유비쿼터스 네트워크 환경에서 다양한 데이터 서비스가 가능해지면서 악의적인 공격자나 내부 사용자에 의한 보안 취약성 및 프라이버시 침해로 인한 문제를 해결하기 위해 다양한 콘텐츠나 대용량 데이터의 안전한 보안 관리 문제가 주요 이슈로 떠오르고 있다. 기존 다항식 기반을 이용한 Ito, Saito, Nishizeki 할당 방식은 분산된 비밀정보를 복원하기 위해 Share 모두가 필요하게 된다. 반면, 본 제안 방식의 경우, 임계치 이상의 Share가 모아지면 비밀정보를 복원할 수 있다. 또한, 데이터를 분산 복원하는 분산 DBMS 운영상의 효과 특히, 데이터베이스(DB) 서버 및 Share 선택의 규칙성이 있고 조합적 구조인 Combinatorial Design상의 파라메터 t,v,k를 이용함으로써 구현상의 유연성(flexibility)을 갖는다. 본 논문에서는 Share의 할당 문제를 해결하고자 비밀분산 방식을 이용하여 데이터를 분산저장관리 할 때 Share의 할당을 위해 t-(v,k,1) 디자인이 갖는 행렬구조를 적용시킴으로써 새롭게 Share 할당법을 구성하고 데이터 분산저장관리에의 응용에 대해 검토한다.

항공사 좌석공유 사회연결망과 경영성과간의 관계에 관한 연구 (A Study on the Relationship between Social Network of Codeshare and Performances in Airline Industries)

  • 권병천;조남옥
    • 품질경영학회지
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    • 제39권2호
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    • pp.271-280
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    • 2011
  • In this paper, the relationships between code-share networks and performances in airline industry were analyzed by using Social Network Analysis (SNA). We first analyzed the schedule data from OAG (Official Airline Guide) to obtain core-share information of airline industries. SNA was, then, applied to the code-share information. Finally, statistical analysis was conducted to analyze the relationships between code-share social networks and performances. The result shows that the size and out-degree centrality have relatively significant effects on the performance of airline industries, while in-degree and betweenness centrality has less significant effects.

유통기업 매출액의 기업가치 관련성 (The Impact of Sales Revenue on Value Relevance in the Distribution Corporate)

  • 김진회
    • 유통과학연구
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    • 제16권2호
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    • pp.83-88
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    • 2018
  • Purpose - For distribution corporate, the method of recognizing sales revenue may be different depending on the type of distribution transaction. Until the change in accounting standards for revenue recognition was made in 2002, the distribution corporate recognized the full amount of sales of goods regardless of the type of transaction. However, in accordance with accounting standards for revenue recognition, which began to be applied in 2003, distribution corporate differ in sales revenue recognition by transaction type. The Purpose of this study is to analyze the impact of sales revenue on the corporate value after the change of the revenue recognition accounting standards. Research design, data, and methodology - We selected a comprehensive wholesale and retail corporate listed on Korea Exchange. The research model extends the Ohlson(1995) model and regresses whether sales revenue affecting the corporate value is discriminatory value relevance between the corporate affected by changes in accounting standards for revenue recognition and those not. Results - The results of the analysis are as follows. First, The average value of stock price, net asset per share, and earnings per share are all higher than those before the change of accounting standards for revenue recognition. However, the average value of sales per share is lower than that before the change of accounting standards for revenue recognition. Second, the relationship between corporate value and net asset per share, earnings per share and sales per share, the coefficient of net asset per share, earnings per share and sales per share are all statistically significant positive value. Therefore, in explaining corporate value, besides net asset per share and earnings per share, sales per share provides additional information. And the coefficient of interaction variable between accounting standard change and sales per share is a statistically significant positive value. This result indicating that after the change of the revenue recognition accounting standards the usefulness of sales revenue has increased. Conclusions - The change in accounting standards for revenue recognition led to a decrease in distribution corporate sales revenue but the higher the relevance of the corporate value of the sales revenue information. These results shows that the change of accounting standards that reflects the transaction type of retailers was a revision to increase the value relevance of sales revenue in valuation of corporate value.

모바일 SNS속성이 관계형성과 정보공유를 매개로 사용자 만족도에 미치는 영향 (A study on Mobile SNS Attributes Effects on Information share, Relationship formation, and User satisfaction)

  • 심선희;문재영
    • 품질경영학회지
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    • 제40권1호
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    • pp.60-72
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    • 2012
  • This research conducted a survey targeting mobile SNS users in order to see whether mobile SNS attribute( accessibility, usefulness, newness, connectivity) through the medium of information share and relationship formation had a positive influence on user satisfaction. The results of the analysis showed that usefulness and accessibility had a significant influence on information share, while accessibility and connectivity had a significant influence on relationship formation. Information share and relationship formation both had a significant influence on user satisfaction. Based on this research, an angle of approach different from the business transactions and information services offered in existing mobile networks is necessary when corporations provide SNS through mobiles. When considering that the most important part in the use of mobile SNS is the social component, this can be actively used for the development and marketing of SNS services. Therefore, the SNS provider must focus its efforts on finding a method to stimulate user sensibilities in order to increase customer satisfaction and draw out continuous usage.

Effect of Intangible Assets on the Value Relevance of Accounting Information: Evidence from Emerging Markets

  • AL-ANI, Mawih Kareem;TAWFIK, Omar Ikbal
    • The Journal of Asian Finance, Economics and Business
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    • 제8권2호
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    • pp.387-399
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    • 2021
  • This study mainly aims to examine the effect of intangible assets on the value relevance of the Gulf Cooperation Council (GCC)-listed non-financial firms. This study tested three types of models by using a large sample of non-financial firms listed in GCC countries as emerging markets from 2008 to 2016. The types of models are accounting information (earnings per share and book value of share) without intangible assets model, intangible assets model, and accounting information (earnings per share and book value of share) with intangible assets model. Ordinary least square (OLS) shows mixed results as intangible assets improve the value relevance of accounting information positively in UAE and negatively in Kuwait but not in other countries. The study documents a robust positive relationship between intangible assets and earnings quality in terms of value relevance in KSA and Qatar. The findings provide implications for policymakers, investors, and managers. The results suggest that intangible assets can improve the value relevance in emerging markets, such as GCC, as the need to organize the requirements of information disclosures on intangible assets and provide great transparency and additional disclosure of information about intangible assets and their components.

광시각암호를 이용한 생체정보보호 (Biometrical Information Security by Using Optical Visual Cryptography)

  • 이상이;류충상;이승현
    • 한국정보통신학회:학술대회논문집
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    • 한국해양정보통신학회 2004년도 춘계종합학술대회
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    • pp.760-763
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    • 2004
  • 지문 데이터를 광시각암호에 적합하게 Secret Sharing하고 Share 데이터의 일부를 공개된 네트워크로 전송하고 지문의 소유자가 나머지 Share를 소유하고 있다가 필요 시 지문과 함게 Share를 제시하여 본인임을 인식시키는 광시각암호 기반의 생체정보보호 방범을 제안한다.

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ATM ABR의 공평성들을 위한 새로운 스케쥴링 알고리즘 (New Scheduling Algorithm for Fairness Criteria of ATM ABR)

  • 정경택;박준성;박현;전병실
    • 대한전자공학회논문지TC
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    • 제39권4호
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    • pp.188-200
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    • 2002
  • WRR 스케줄링 알고리즘은 계산의 단순성과 저 비용 구현의 장점을 가지고 있어서 고속 패킷 스위칭 네트워크에서 널리 쓰이고 있지만 버스티한 트래픽에 대해서는 입력 트래픽을 일정 비율로 스케쥴링하기 때문에 효율성이 낮다는 문제점이 있다. 또한, WRR 알고리즘은 ABR 서비스 클래스의 공정성 기준인 MCR plus equal share와 Maximum of MCR or Max-Min share 공평성을 만족시키지 못한다. 또한 Nabeshima et al의 기법은 여분 대역에 대한 weight 값을 보정하지 않고 RR 방식으로 각 VC에 할당을 해주기 때문에 네트워크의 변화에 신속하게 적응하지 못할 뿐 만 아니라 대역폭을 효율적으로 이용하지 못한다. 따라서 ABR 서비스를 위한 공평성 기준을 만족시키고 빠르게 적응할 수 있는 스케줄링 알고리즘이 필요하다. 본 논문에서는 ABR 서비스를 위한 6가지 공평성 기준들 중 MCR plus equal share와 Maximum of MCR or Max-Min share 두 기준을 만족시키는 스케줄링 알고리즘을 제안한다. 제안된 알고리즘이 공평성 기준을 만족시키고, 네트워크 자원을 각 ABR VC들에게 신속하고 공평하게 할당해 주는지를 컴퓨터 시뮬레이션을 통하여 WRR, Nabeshima et al 알고리즘들과 비교, 분석한다.

한.일의 대미 수출경쟁력에 관한 연구 (An Analysis of Export Competitiveness of Korea and Japan in the USA)

  • 심재희
    • 통상정보연구
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    • 제11권1호
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    • pp.139-155
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    • 2009
  • This study investigates empirically the export competitiveness of Korea and Japan in America by calculating 4 indexes such as market share index(MSI), export similarity index(ESI), market comparative adventage index(MCAI) and market share expansion ratio(MSER)-export similarity deepening ratio(ESDR). The empirical finding of this analysis shows that Korea is competitive in the labor-intensive products and Japan in the technology-intensive products. This result also meets the general understandings that Japan is superior to Korea in the export competitiveness such as value added of goods, etc. Therefore, in order to strengthen the export competitiveness of Korea in the US market, it's desirable for our firms and government to improve the quality of product ranges by developing technologies focused on the higher value-added products.

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한국수출의 독점정도에 따른 수출보험의 수출촉진 효과 분석 (The Role of Export Insurance for the Korean Export Promotion: Reflecting the Market Share of Korean Export in Trading Partner Countries)

  • 송정석
    • 통상정보연구
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    • 제10권1호
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    • pp.259-277
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    • 2008
  • This paper empirically analyzes the influence of export insurance on export promotion using panel data for the Korean case during the sample period from 2003 to 2006. We use the Korean export's share in trading partners' imports as a weight for the weighted least square (WLS) estimation to measure the effect of export insurance on the export promotion. Our main finding is that export insurance subsidy seems to enhance the export performance when the Korean export takes greater share in other countries' markets. On the other hand, under weaker monopoly power of the Korean export, export risk and trading partners' GDP growth rate has more influence on the export promotion rather than export insurance subsidy. Our finding implies that policy makers and practitioners should discern the Korean exports' monopoly power differential across trading countries for better performing export insuarnce policy.

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