• Asia-Pacific Journal of Business
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• v.14 no.2
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• pp.33-49
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• 2023

Purpose - The purpose of this study is to examine the option selection and optimal trading of informed traders in KOSPI 200 options market based on the PIN (probability of informed trading) model of Easley et al.(2002). Design/methodology/approach - This study uses TAQ (trade and quote) data provided by Korean Exchanges (KRX) which contains all the bids and trades recorded during the continuous auction trading hours for the KOSPI 200 options between May 2019 and September 2020. Findings - First, there was no difference in the PIN between call and put options in the 2019 data, but the PIN of put options was slightly higher in 2020. Second, regardless of the type of option, the PIN was higher for in-the-money (ITM) options, and the PIN of out-of-the-money (OTM) options was the same as or slightly higher than that of at-the-money (ATM) options. Third, we found that the PIN decreases as trading liquidity increases, and fourth, the PIN increased sharply as the expiration date approached, especially for OTM options, while ITM and ATM options showed relatively weak effects. Fifth, for foreign and institutional investors, the periodicity of orders was observed in milliseconds, especially for foreign investors, where the periodicity of orders was clear and frequent in OTM options. The results suggest that the purpose of option trading varies depending on the moneyness from the perspective of the informed trader.

• Journal of The Korean Association For Science Education
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• v.28 no.7
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• pp.697-712
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• 2008

The purpose of this study was to seek strengths and weaknesses from analyzing Korea and U.S. science textbooks in terms of general structural features, contents, cognitive levels of questions and the purpose of questions used in science textbooks. This provided insight into improvement of textbooks that can effectively assist teaching and learning. To investigate organization of unit in textbooks in-depth, the evolution unit was selected and scrutinized as one example. The results showed that the number of pages, activities, vocabulary words, and vocabulary lists are considerably different between Korean and the U.S. Commonly, U.S. textbooks were more laden with information and lacking in coherence than those of the Korean textbooks. The findings on the cognitive levels of questions showed that the majority of questions in both nations are concerned with knowledge. However, the difference between the two nations is great in the ratios of analysis, synthesis, and evaluation questions. Questions are concentrated in review section (45% of Korean and 60.6% of U.S.) in textbooks. It suggested that well-planned questions in a review section can provide the basic guidance for strength in a science classroom.

• Journal of Distribution Science
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• v.22 no.5
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• pp.81-91
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• 2024

Purpose: Edutech, which is the application of information and communication technology to education, is being introduced in various ways across all levels, from primary and secondary education to lifelong education. The purpose of this study was to present metadata about Edutech tools to provide the method for providing various Edutech tools. Research design, data, and methodology: To achieve the research purpose, the necessary elements for the metadata of Edutech tools were first derived based on a literature review. A focus group interview (FGI) with experts was conducted to gather opinions on the developed metadata, further validating its appropriateness. Results: The metadata area consisted of "Basic Information", "Product Information", and "Utilization Information". The "Basic Information" section had 9 items, "Product Information" had 8 items, and "Utilization Information" was presented with 4 items. Conclusions: This study proposed metadata for Edutech tools, which can be utilized to develop distribution system to proliferate and harness various Edutech tools in the educational setting. For the future establishment of an Edutech tool distribution system based on this metadata, it's imperative to operate a credible platform to ensure a stable distribution framework.

• Journal of Positioning, Navigation, and Timing
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• v.13 no.1
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• pp.93-102
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• 2024

Global Navigation Satellite System (GNSS)/Inertial Navigation System (INS) integrated navigation systems provide highly accurate and reliable navigation solutions and are widely used as civil and military navigation systems. In order to facilitate the GNSS/INS integrated navigation system development task, a simulator can be used to provide inputs for the GNSS/INS integrated navigation system. In this paper, a simulator design using general-purpose Personal Computer (PC) and Off-The-Shelf (OTS) interface boards for a GNSS/INS integrated navigation system is proposed and implementation results are presented. Requirements of the GNSS/INS integrated navigation system simulator are presented and a design method that satisfies the requirements is described. In order to show the usefulness of the proposed design method, a simulator using a general-purpose PC and OTS interface boards for the GPS/INS integrated navigation system are implemented and verified. The implementation results show that the simulator designed by the proposed method generates the GPS L1 C/A signal and IMU data without any problems.

• Asia-Pacific Journal of Business
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• v.14 no.4
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• pp.275-287
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• 2023

Purpose - The purpose of this study is to analyze the relationship between the issuance amount of subordinated bonds and firm value, aiming to determine how subordinated bonds are evaluated in the capital market. Design/methodology/approach - To achieve the research objective, this study empirically analyzes all samples of domestic listed insurers that have issued subordinated bonds. Through such empirical analysis, the study aims to confirm the value relevance of the recognized debt and examine how subordinated bonds are reflected in the firm valuation of insurers. Findings - The research finding indicates that subordinated bonds issued by insurers, despite being recognized as debt, did not show a significant relation with firm value. This result suggests a divergence from the typical characteristics of debt, reflecting the distinct evaluation of debt recognized through the issuance of subordinated bonds(subordinated debt) and general debt in the capital market. In this regard, additional investigation into the value relevance by categorizing debt into general debt and subordinated debt revealed a significant difference in the value relevance of the two types of debt. Research implications or Originality - These research findings indicate that the market evaluation of subordinated debt takes into consideration the economic attributes of the subordinated debt. Furthermore, this evaluation is interpreted to account for the regulatory consideration that recognizes subordinated debt as available capital for supervisory purpose.

• International conference on construction engineering and project management
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• 2024.07a
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• pp.242-246
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• 2024

Automated route planning is an important tool in the field of built environment. For example, a high-quality route planning method can improve the logistics planning of projects, thereby enhancing the performance of projects and the effectiveness of management. However, the traditional automated route planning is performed based on the predicted mean value travel time of candidate routes. Such a point estimate neglects the purpose of the trip and can further lead to a suboptimal decision. Motivated by this challenge, this study proposes an innovative framework for trip purpose based route planning. The proposed artificial intelligence and stochastic optimization framework recommends the most appropriate travel route for decision makers by fully considering their trip requirements beyond just the shortest mean value travel time. In addition to its theoretical contributions, our proposed route planning method will also contribute to the current logistics planning practice. Future research may be devoted to the real-life implementation of the proposed methodology in a broader context to provide empirical insights for practitioners in various industries.

• Journal of School Social Work
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• v.48
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• pp.131-165
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• 2019

The purpose of this study is to explore what circumstances a child experienced corporal punishment and how this direct and indirect experience led to an attitude toward corporal punishment. For this purpose, the focus group interviews was conducted in three regions nationwide for 17 children in two groups of elementary school 6th graders and one group of secondary school 2th graders. The data collected through interviews were derived from topics related to children's experience of direct and indirect corporal punishment and their perception of corporal punishment by utilizing and analyzing the method of subject analysis. As a result of the analysis, four topics and 10 sub-topics were derived. This study explored that within the various physical spaces in which children live, corporal punishment is conducted for the purpose of behavior correction or academic improvement, and that the experience of corporal punishment, especially at home, is understood as a love for children, leading to a favorable attitude toward corpoal punishment. Based on these findings, this study discussed practical and policy suggestions to enhance the presence of 'right to be free from punishment' in children's rights.

• Journal of Korean Society of Transportation
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• v.26 no.3
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• pp.97-108
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• 2008

Like always selecting anything in everyday lives, We must choose a travel mode to achieve its purposes driven by diverse factors such as travel distance and accessibility of public transit. Assuming that they are differentiated depending on whether a travel purpose is commuting, shopping or leasure, the study investigated their distinguished impacts on travel mode choice by using binary logit models by travel purpose and mode. Identifying that travel time has an important role in choosing a travel mode whether its purpose is any, the results show that longer travel time tends to increase the possibilities of taking public transit, transfer and rail transit rather than bus. In addition, the easy use of a car and its parking to travelers is more important in their choosing an automobile as a travel mode than other factors. In the models of identifying the probability of mode choice between bus and rail transit, we find that its choice tends to be decided by travelers depending on whether any public transit mode is more accessible to them. When comparing the results among travel purposes, we identify that the easy use of a car and parking in their destination is more important for commuting, while accessibility of public transit in their origination increases the probability of taking a transit mode.

• Journal of Music and Human Behavior
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• v.15 no.1
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• pp.51-68
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• 2018

The purpose of this study was to examine the use of music by international college students in Korea. A questionnaire was administered to foreign college students. The questionnaire was composed of 25 items regarding use of music, the purpose of music use, and demographic information. A total of 150 questionnaires were distributed, and 81 questionnaires were returned. Incomplete questionnaires were excluded, and the remaining 69 questionnaires were analyzed. The results of this study were as follows. First, international students in Korea preferred listening to music over playing instruments or singing and mostly listened to popular music in their dormitory alone. They mostly listened to popular songs with love related themes and preferred music from their own country over Korean music. Second, in terms of the purpose behind music use, comfort was the reason reported most frequently, followed by mood change, enjoyment, sense of belonging, and sense of achievement. Third, there were no significant differences in use of music depending on individual factors (e.g., gender, length of residence in Korea, length of previous music education), but significant differences were found for using music for the purpose of mood change and sense of belonging based on respondents' length of residence in Korea. The results of this study may contribute to the development of musical programs for cultural adaptation and psycho-emotional support for international students in Korea.

• Journal of Korea Water Resources Association
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• v.49 no.12
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• pp.1027-1034
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• 2016

One of the most important purpose of multi-purpose reservoir is storing a large amount of water for utilization in a dry season. However, multi-purpose reservoirs that were constructed according to the limited hydrologic information available at the time of construction may encounter problems such as decreased water inflow due to climate change and an inability to cope with a water shortage. To solve these problems, in 2015, the Ministry of Land, Infrastructure and Transport suggested a revised water supply standard in case of water shortage for reservoirs. However, the revised standard has not been sufficiently discussed to determine its effectiveness. In addition, multi-purpose reservoirs in South Korea have secured and stored water for emergencies, but there is currently no way to utilize the stored water. Determining how to utilize the stored water effectively may be a useful method for preparing drought. Therefore, this article discusses the revised water supply standard as it relates to a water shortage in reservoirs and a method of utilizing the water stored for emergencies in multi-purpose reservoirs. The options for utilizing the water storage were evaluated using a water shortage safety degree index, and the results showed that the options may slightly and limitedly increase the water supply capacity. However, the evaluation also showed that a complex application of two options may overcome the exisiting problem and to supply water more effectively.