• Asia-Pacific Journal of Business
• /
• v.13 no.4
• /
• pp.135-149
• /
• 2022

Purpose - The primary objective of this article is to investigate the impact of U.S. monetary policy on institutional / individual / foreign investor reactions in the Korean stock market. Design/methodology/approach - This study employs a high frequency event study methodology to identify U.S. monetary policy shocks and quantify the impact of identified shocks on investor reactions. The dependent variable in the regression model is net stock purchase, while the explanatory variables are U.S. monetary policy shocks. The model is estimated for the period 2000-2019, including 156 FOMC meetings. Findings - Foreign investors immediately sell stocks in response to contractionary U.S. monetary shocks. They do not, however, react to anticipated changes in monetary policy rates, confirming the rationality of foreign investors. Individual investors demonstrate the opposite response, indicating that a non-trivial proportion of individual investors are irrational. Research implications or Originality - This study adds to the current literature on the effect of U.S. monetary policy on the Korean stock market. This study demonstrates a heterogeneous response to U.S. monetary policy shocks, validating the rational investment behavior of foreign investors, while individual investors exhibit a certain degree of irrationality. Methodologically, this study adds to the literature by quantifying the impact of U.S. monetary policy employing a sharper identification method allowing a simple and consistent estimation.

• IE interfaces
• /
• v.21 no.4
• /
• pp.354-364
• /
• 2008

This paper deals with a design problem of simulation for MIME (multi indenture and multi echelon) with lateral transshipment. Especially, we consider lateral transshipments in case that (S-1, S) ordering policy is used in multi echelon repair system. Some rules for ordering spare parts in lateral transshipments between the lowest-level units are studied and are implemented by an activity diagram in object-oriented method. By numerical examples, we compare regular (S-1, S) ordering policy and (S-1, S) policy with lateral transshipment.

• Journal of Institute of Control, Robotics and Systems
• /
• v.20 no.11
• /
• pp.1118-1124
• /
• 2014

This paper proposes a novel controller design scheme for multimachine power systems based on the explorized policy iteration. Power systems have several uncertainties on system dynamics due to the various effects of interconnections between generators. To solve this problem, the proposed method solves the LQR (Linear Quadratic Regulation) problem of isolated subsystems without the knowledge of a system matrix and the interconnection parameters of multimachine power systems. By selecting the proper performance indices, it guarantees the stability and convergence of the LQ optimal control. To implement the proposed scheme, the least squares based online method is also investigated in terms of PE (Persistency of Excitation), interconnection parameters and exploration signals. Finally, the performance and effectiveness of the proposed algorithm are demonstrated by numerical simulations of three-machine power systems with governor controllers.

• Journal of the Korean housing association
• /
• v.17 no.3
• /
• pp.89-98
• /
• 2006

The purpose of this study was to survey curriculum of the department of housing and to develop housing welfare educational program in order to offer the information helpful to the professional of housing education and housing policy makers. Documentary research and content analysis methods were used in this study. Data drawn from internet homepage of each universities and public institutions. The major results of this study are as follows. 1) There were 30 universities which has related to the department of housing and the name of major was very various. The half of their curriculum were housing and interior design. 2) The housing welfare educational program should be step by step. The first is basic step to team basic theory of housing and to establish concept of housing welfare. The second is application and practice step of housing design and housing policy and housing economics. The third is specific application step to consider that who were taker from the housing welfare policy and to take practical training in field.

• Proceeding of Spring/Autumn Annual Conference of KHA
• /
• 2005.11a
• /
• pp.363-366
• /
• 2005

The purpose of this study was to survey curriculum of the department of housing and to develop housing welfare educational program in order to offer the information helpful to the professional of housing education and housing policy makers. Documentary research and content analysis methods were used in this study. Data drawn from internet homepage of each universities and public institutions. The major results of this study are as follows. 1) There were 30 universities which has related to the department of housing and the name of major was very various. The half of their curriculum were housing and interior design. 2) The housing welfare educational program should be step by step. The first is basic step to learn basic theory of housing and to establish concept of housing welfare. The second is application and practice step of housing design and housing policy and housing economics. The third is specific application step to consider that who were taker from the housing welfare policy and to take practical training in field.

• Proceedings of the Korean Society of Propulsion Engineers Conference
• /
• 2008.03a
• /
• pp.235-242
• /
• 2008

An innovative Panel ExTension SATellite(PETSAT) and propulsion system for PETSAT, are presented in this paper. First, we outline what PETSAT is. Next, based on PETSAT ethos, design policy of the propulsion system is provided. According to the policy, we designed propulsion system and concretely estimated and assembled mono-propellant and bi-propellant systems, and it indicated that mono-propellant propulsion with 50-60 seconds of specific impulse and 1 N of thrust is probable. In the case of bi-propellant, 120-150 seconds of specific impulse is valid even based on the design policy. We conducted captive tests of mono-propellant and bi-propellant propulsions with a breadboard model of propulsion system for PETSAT, and obtained good operations and performances. Based on the test results, we designed and manufactured flight model propulsion system for PETSAT. We are planning to demonstrate it in SOHLA-2L project progressed by the Space Oriented Higashiosaka Leading Association(SOHLA). SOHLA-2L will be the first on-orbit demonstrator of PETSAT in 2008.

• International Journal of Computer Science & Network Security
• /
• v.23 no.11
• /
• pp.1-7
• /
• 2023

In the current Internet system, there are many problems using anonymity of the network communication such as personal information leaks and crimes using the Internet system. This is why TCP/IP protocol used in Internet system does not have the user identification information on the communication data, and it is difficult to supervise the user performing the above acts immediately. As a study for solving the above problem, there is the study of Policy Based Network Management (PBNM). This is the scheme for managing a whole Local Area Network (LAN) through communication control for every user. In this PBNM, two types of schemes exist. As one scheme, we have studied theoretically about the Destination Addressing Control System (DACS) Scheme with affinity with existing internet. By applying this DACS Scheme to Internet system management, we will realize the policy-based Internet system management. In this paper, basic system design for PBNM scheme for multi-domain management utilizing data science and AI is proposed.

• STI Policy Review
• /
• v.5 no.2
• /
• pp.1-19
• /
• 2014

The concept of a holistic innovation policy is defined in this article, with discussions of what it is, why it is relevant, and how it can be implemented to enhance product innovation. It is shown that the innovation systems approach has diffused rapidly during the latest decades and has completely replaced the linear view in the field of innovation research. The majority of European countries are striving in the direction of developing a more holistic innovation policy. However, it is concluded that the innovation policies in European countries are still dominantly linear despite the fact that holistic policy seems to be the driving vision. Innovation policy is behindhand. Why innovation policy is still linear is also preliminarily discussed. Policymakers attending conferences on innovation are practically always in favor of holistic (systemic, broad-based, comprehensive, etc) innovation policies, have abandoned the linear view by learning from innovation research. The division between "linear" and "holistic" seems to be located within the community where innovation policies are designed and implemented, a community composed of policymakers (administrators/bureaucrats) and elected politicians. Perhaps the dividing line is between these two groups in that politicians, who actually make the decisions, may still reflexively believe in the linear view. Nevertheless, there seems to be a failure in communication between researchers and politicians in the field of innovation and there is therefore a strong need to involve innovation researchers in policy design and implementation to a much higher degree. Another way to increase the degree of holism could be to separate innovation policy from research policy, since their integration tends to cement the linear character of innovation policy. The empirical results are based on a questionnaire sent to twenty-three EU Member States, out of which nineteen (83%) responded. Part of the work for this article was carried out for the European Research and Innovation Area Committee (ERAC) of the European Commission (DG RTD).

• The Journal of Sustainable Design and Educational Environment Research
• /
• v.12 no.2
• /
• pp.19-30
• /
• 2013

Low birthrate is causing a reduction in the number of students at kindergartens, elementary schools, middle schools and high schools nationwide and yet, school safety accidents are on a constant rise, which was reported to be 237 accidents a day on average in 2011. Such phenomenon is proving how the school safety policy is not doing what it was supposed to do. In order to decrease the school safety accidents, first, causes of the accidents should be analyzed and then, prevention measures should be designed. For that reason, the study looked into the present condition of the school safety accidents and safety accident theories and based on the results, "School Safety Accident Analysis Matrix Model" was proposed. With a matrix method of the accident types (17 of them) and hazard factors (9 of them) applied, the concerned model analyzed a total of 153 accident causes. In consideration of the results from the analysis, the study suggested that the education authority should open a safety organization and design a school safety policy that would systematically deal with safety education, prevention measures practice, accident investigation and analysis, and countermeasures practice as well.

• Journal of Korean Society for Quality Management
• /
• v.26 no.2
• /
• pp.93-105
• /
• 1998

Many large scale discount stores try to enter the market in newly developed city areas. In order to sucessfully increase the market share, it is essential for them to understand customers' needs. In doing so, various forms of survey methods are often used and survey forms can influence respondents' decision. The main objective of this paper is to check consistency of different survey methods in terms of deriving the expected market share. In this paper, we a, pp.y two survey forms for both AHP and conjoint analyses using a randomized complete block design. Using AHP, we compare Kim's club, Carf, E-mart and Macro in terms of the following four customer attributes: parking facility, size of store, business hours, and special pricing policy. In conjoint analysis, we estimate the part-worth of each level of the customer's attribute so that one can design the best store which would optimizethe customer's attribute so that one can design the best store which would optimize the customer's utility. Empirical comparison results indicate very low consistency between the two methods. It implies the importance of verification methods of survey. We also analyze the impact of special pricing policy using a meta analysis. It turns out that older customers are a, pp.rently more sensitive to pricing policy.