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The Analysis on the Relationship between Firms' Exposures to SNS and Stock Prices in Korea (기업의 SNS 노출과 주식 수익률간의 관계 분석)

  • Kim, Taehwan;Jung, Woo-Jin;Lee, Sang-Yong Tom
    • Asia pacific journal of information systems
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    • v.24 no.2
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    • pp.233-253
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    • 2014
  • Can the stock market really be predicted? Stock market prediction has attracted much attention from many fields including business, economics, statistics, and mathematics. Early research on stock market prediction was based on random walk theory (RWT) and the efficient market hypothesis (EMH). According to the EMH, stock market are largely driven by new information rather than present and past prices. Since it is unpredictable, stock market will follow a random walk. Even though these theories, Schumaker [2010] asserted that people keep trying to predict the stock market by using artificial intelligence, statistical estimates, and mathematical models. Mathematical approaches include Percolation Methods, Log-Periodic Oscillations and Wavelet Transforms to model future prices. Examples of artificial intelligence approaches that deals with optimization and machine learning are Genetic Algorithms, Support Vector Machines (SVM) and Neural Networks. Statistical approaches typically predicts the future by using past stock market data. Recently, financial engineers have started to predict the stock prices movement pattern by using the SNS data. SNS is the place where peoples opinions and ideas are freely flow and affect others' beliefs on certain things. Through word-of-mouth in SNS, people share product usage experiences, subjective feelings, and commonly accompanying sentiment or mood with others. An increasing number of empirical analyses of sentiment and mood are based on textual collections of public user generated data on the web. The Opinion mining is one domain of the data mining fields extracting public opinions exposed in SNS by utilizing data mining. There have been many studies on the issues of opinion mining from Web sources such as product reviews, forum posts and blogs. In relation to this literatures, we are trying to understand the effects of SNS exposures of firms on stock prices in Korea. Similarly to Bollen et al. [2011], we empirically analyze the impact of SNS exposures on stock return rates. We use Social Metrics by Daum Soft, an SNS big data analysis company in Korea. Social Metrics provides trends and public opinions in Twitter and blogs by using natural language process and analysis tools. It collects the sentences circulated in the Twitter in real time, and breaks down these sentences into the word units and then extracts keywords. In this study, we classify firms' exposures in SNS into two groups: positive and negative. To test the correlation and causation relationship between SNS exposures and stock price returns, we first collect 252 firms' stock prices and KRX100 index in the Korea Stock Exchange (KRX) from May 25, 2012 to September 1, 2012. We also gather the public attitudes (positive, negative) about these firms from Social Metrics over the same period of time. We conduct regression analysis between stock prices and the number of SNS exposures. Having checked the correlation between the two variables, we perform Granger causality test to see the causation direction between the two variables. The research result is that the number of total SNS exposures is positively related with stock market returns. The number of positive mentions of has also positive relationship with stock market returns. Contrarily, the number of negative mentions has negative relationship with stock market returns, but this relationship is statistically not significant. This means that the impact of positive mentions is statistically bigger than the impact of negative mentions. We also investigate whether the impacts are moderated by industry type and firm's size. We find that the SNS exposures impacts are bigger for IT firms than for non-IT firms, and bigger for small sized firms than for large sized firms. The results of Granger causality test shows change of stock price return is caused by SNS exposures, while the causation of the other way round is not significant. Therefore the correlation relationship between SNS exposures and stock prices has uni-direction causality. The more a firm is exposed in SNS, the more is the stock price likely to increase, while stock price changes may not cause more SNS mentions.

Studies on the Forming Mechanism of The Fishing Ground of Yellow tail, seriola quinqueradiata, in The Adjacent Sea of Jeju Island (제주도 주변해역의 방어어장형성기구에 관한 연구)

  • 김준택;노홍길;김상현
    • Journal of the Korean Society of Fisheries and Ocean Technology
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    • v.38 no.1
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    • pp.20-35
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    • 2002
  • We studied the fishing ground of a yellowtail and oceanographic conditions around Chujado and Marado around Jeju Island from autumn to winter. Also we investigate the forming mechanism of fishing ground around Marado, which shows the best catch of yellowtail near Jeju island. The obtained results are summarized as follow ; 1. When the high temperature water about 15.0∼19.0 in depth of 50m distributed around Chujado and Marado, the fishing ground of Yellowtail is shows a good catch. On the contrary, when the low temperature water about 11.0∼14.0 is shows a poor catch. 2. Fishing grounds of yellowtail by handline fishing are formed with a school of Yellowtail migrating southward from the coastal sea of Korea and slaying around Marado to winter and spawn due to following factors. Firstly, a front of temperature and salinity is formed between inshore water and oceanic water around Marado. Secondly, small-size eddies and excellent horizontal and vortical mix which is created by strong tide and geographical features including irregular underwater ground and an isolated island. An abundant school of yellow tails stays in front of the tide where a good fishing ground was made.

Study on the spatial distribution and aggregation characteristics of fisheries resources in the East Sea, West Sea and South Sea of the South Korea in spring and autumn using a hydroacoustic method (음향을 이용한 춘계와 추계에 우리나라 동서남해의 수산자원의 공간적인 분포 및 군집특성 조사)

  • PARK, Junseong;HWANG, Kangseok;PARK, Junsu;KANG, Myounghee
    • Journal of the Korean Society of Fisheries and Ocean Technology
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    • v.54 no.2
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    • pp.146-156
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    • 2018
  • Acoustic surveys were conducted in the seas surround the South Korea (South Sea A, South Sea B (waters around the Jeju Island), West Sea and East Sea) in spring and autumn in 2016. First, the vertical and horizontal distributions of fisheries resources animals were examined. In most cases vertical acoustic biomass was high in surface water and mid-water layers other than South Sea A in autumn and West Sea. The highest vertical acoustic biomass showed at the depth of 70-80 m in the South Sea A in spring ($274.4m^2/nmi^2$) and the lowest one was 10-20 m in the West Sea in autumn ($0.4m^2/nmi^2$). With regard to the horizontal distributions of fisheries resources animals, in the South Sea A, the acoustic biomass was high in eastern and central part of the South Sea and the northeast of Jeju Island ($505.4-4099.1m^2/nmi^2$) in spring while it was high in eastern South Sea and the coastal water of Yeosu in autumn ($1046.9-2958.3m^2/nmi^2$). In the South Sea B, the acoustic biomass was occurred high in the southern and western seas of Jeju Island in spring ($201.0-1444.9m^2/nmi^2$) and in the southern of Jeju Island in autumn ($203.7-1440.9m^2/nmi^2$). On the other hand, the West Sea showed very low acoustic biomass in spring (average NASC of $1.1m^2/nmi^2$), yet high acoustic biomass in the vicinity of 37 N in autumn ($562.6-3764.2m^2/nmi^2$). The East Sea had high acoustic biomass in the coastal seas of Busan, Ulsan and Pohang in spring ($258.7{\sim}976.4m^2/nmi^2$) and of Goseong, Gangneung, Donghae, Pohang and Busan in autumn ($267.3-1196.3m^2/nmi^2$). During survey periods, fish schools were observed only in the South Sea A and the East Sea in spring and the West Sea in autumn. Fish schools in the South Sea A in spring were small size ($333.2{\pm}763.2m^2$) but had a strong $S_V$ ($-49.5{\pm}5.3dB$). In the East Sea, fish schools in spring had low $S_V$ ($-60.5{\pm}14.5dB$) yet had large sizes ($537.9{\pm}1111.5m^2$) and were distributed in the deep water depth ($83.5{\pm}33.5m$). Fish schools in the West Sea in autumn had strong $S_V$ ($-49.6{\pm}7.4dB$) and large sizes ($507.1{\pm}941.8m^2$). It was the first time for three seas surrounded South Korea to be conducted by acoustic surveys to understand the distribution and aggregation characteristics of fisheries resources animals. The results of this study would be beneficially used for planning a future survey combined acoustic method and mid-water trawling, particularly deciding a survey location, a time period, and a targeting water depth.

Influences of Site-specific N Application on Rice Grain Yield and Quality in Small Size Paddy Field (소규모 경작지에서 질소 변량시비가 벼 수량 및 품질에 미치는 영향)

  • Choi Min-Gyu;Choi Won-Young;Park Hong-Kyu;Nam Jeong-Kwon;Back Nam-Hyun;Lee Jun-Hee;Kim Sang-Su;Kim Chung-Kon
    • KOREAN JOURNAL OF CROP SCIENCE
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    • v.51 no.5
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    • pp.369-378
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    • 2006
  • For precision farming the influences of site-specific N application on rice grain yield and quality were investigated in 0.5 ha paddy field from 2001 to 2003. In pre-cultured soil, EC, O.M., total nitrogen, phosphate and potassium content showed high spatial variation, ranging from 11.63 to 52.03% of coefficient of variation, while that of pH was relatively low. In rice growth characteristics, tiller number at panicle formation stage was more than 10% in coefficient of variation, but plant height, SPAD figure at panicle formation stage and milled rice yield, protein content in brown rice showed less below 10%. Spatial dependence was over 0.60 in pH, total nitrogen, phosphate and potassium in pre-cultured soil and was over 0.50 in plant height, SPAD figure and protein content, while it was below 0.22 in tiller number at panicle formation. The range of spatial dependence was longer than 20m in all factors except for protein content in brown rice. Basal dressing nitrogen rate was positively correlated with PH, $SiO_{2}$, plant height and SPAD figure. Nitrogen fertilization rate at panicle formation stage was positively correlated with EC and O.M.. Protein content in brown rice was positively correlated with $SiO_{2}$ in pre-cultured soil. Milled rice yield was positively correlated with plant height, tiller number and SPAD figure at panicle formation stage.

The Kinematics Analysis of the Badminton High Clear Motion in Woman Middle School Student (여자중학생 배드민턴 하이클리어 동작의 운동학적 분석)

  • Kim, Chang-Bum;Ryu, Jae-Kwang
    • Korean Journal of Applied Biomechanics
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    • v.12 no.2
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    • pp.91-107
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    • 2002
  • This research got the following conclusion as result that analyzed high clear action kinematically to 4 C girls' junior high school badminton players who are situated in Chungchong-bukdo. 1. Most of the subject didn't rotate their right shoulder and elbow joint at back swing and moved speedy to shuttle cock. And an cooperation action of joint decreases displaying only a good action on both subject`s specification joint part. 2. When the subject S1 and S2 swing slowly and largely the joint of shoulder and elbow and then the speed of right wrist and racket head is fast, the cooperation action of joint is better than other subject. 3. An angle change of right shoulder showed angle that all subjects are great being caused in softness of joint and angular velocity was exposed that load enough Impact force and increase the speed of racket head as angular velocity decreases rapidly in Impact except subject S3. 4. All subjects of right elbow angle change showed similar form and was exposed that subject S2 sees form of impact stage serious bends from back swing and do not use force effectively in angular velocity. 5. Angle of right wrist appeared that the speed of shuttle cock is decelerated because fast bends of wrist is not formed shortly after Impact because all subject do not accomplish big angle shortly after back swing. Angular velocity can assume that the subject S1 and S4 are using and move fast strong snap shot offering angular velocity value of Impact stage sound (-). 6. While size of Impact stage knee angle accomplishes angle that is big both subject, hip joint angles sees small angle and is playing swing that do on upper body and arm without using strong waist force that is composition action with knee and hip joint.

Precessing of Smoked Dried and Powdered, Sardine for Instant Soup (정어리 분말수우프의 가공)

  • Oh, Kwang-Soo;Chung, Bu-Kil;Kim, Myung-Chan;Sung, Nak-Ju;Lee, Eung-Ho
    • Journal of the Korean Society of Food Science and Nutrition
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    • v.17 no.2
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    • pp.149-157
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    • 1988
  • This study was carried out to prepare the flavoring substance using sardine for instant soup, and to examine the taste compounds and storage stability of the product. In preparation of product, raw sardine are gutted, boiled for 10 minutes and smoked 3 times to $9{\sim}10%$ moisture content at $80^{\circ}C$ for 8 hours. The smoked-dried sardine meat were followed to be 50 mesh of particle size. The powdered-dried sardine were mixed 4.0% sugar, 20.0% table salt, 3.0% monosodium glutamate, 0.2% black pepper, 0.2% garlic powder and 0.2% onion powder, Finally the powdered instant soup product were vacuum packed in a laminated film(PET/A1 foil/CPP) bag, and then stored at room temperature for 120 days. The effect of smoking on enhancing flavor and on preventing lipid oxidation of product during storage were observed. From the chemical analysis and omission test, the principal taste compounds of product were IMP, 478.2mg/l00g; free amino acids such as glutamic acid, histidine, arginine, phenylalaine 3292.5mg/l00g; non-volatile organic acids such as lactic acid, ${\alpha}-ketoglutaric$ acid, 712.2mg/l00g; total creatinine 409.0mg/100g, and small amount of betaine, TMAO. Fatty acid composition of product were mainly consisted of polyenoic acids such as 20:5, 22:6, followed by saturated acids, monoenoic acid. The major fatty acid were 16:0, 16:1, 18:1, 20:5 and 22:6. From the results of sensory evaluation and chemical experiments during storage, the vacuum packed product were good condition for preserving the quality during storage for 120 days. We may conclude that the quality of present product was not inferior to that of seasoning powder of anchovy on the market, and it can be commercialized as a flavoring substance in preparing soup and broth.

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Biodistribution and Hepatic Metabolism of Galactosylated $^{111}In-Antibody-Chelator$ Conjugates: Comparison with $^{111}In-Antibody-Chelator$ Conjugates ($^{111}In$-표지 갈락토즈 접합 항체의 체내분포 및 간에서의 대사 : $^{111}In$-표지 항체와의 비교연구)

  • Kwak, Dong-Suk;Jeong, Kyu-Sik;Ha, Jeoung-Hee;Ahn, Byeong-Cheol;Lee, Kyu-Bo;Paik, Chang-H.;Lee, Jae-Tae
    • The Korean Journal of Nuclear Medicine
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    • v.37 no.6
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    • pp.402-417
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    • 2003
  • Purpose: To evaluate the use of monoclonal antibody (MoAb) as a carrier of the receptor-binding ligand the receptor mediated uptake into liver and subsequent metabolism of $^{111}In-labeled$ galactosylated MoAb-chelator conjugates were investigated and compared with those of $^{111}In$ labeled MoAb. Materials and Methods : T101 MoAb, $IgG_2$ against human lymphocytic leukemic cell, conjugated with cyclic DTPA dianhydride (DTPA) or 2-p-isothiocyanatobenzyl-6-methyl-DTPA (1B4M) was galactosylated with 2-imino-2-methoxyethyl-1-thio-${\beta}$-D-galactose and then radiolabeled with $^{111}In$. Biodistribution and metabolism study was peformed with two $^{111}In-conjugates$ in mice and rats. Results: $^{111}In-labeled$ T101 and its galactosylated conjugates were taken to the liver by the time, mostly within 10 min. However DTPA conjugate was retained longer in the liver than the 1B4M conjugate (55% vs 20% of injected dose at 44 hr). During this time, the radiornetabolite of DTPA conjugate was excreted similarly into urine (24%) and feces (17%). The radiometabolite of 1B4M was excreted primarily into feces (68%) rather than urine (8%). Size exclusion HPLC analysis of the bile and supernatant of liver homogenate showed two peaks the first (35%) with the retention time (Rt) identical to IgG and the second (65%) with Rt similar to free $^{111}In$ at 3 hr post-injection for the 1B4M conjugate, indicating that the metabolite is rapidly excreted through the biliary system. in contrast to DTPA conjugate, the small $^{111}In-DTPA-like$ metabolite was the major radioindium component (90%) in the liver homogenate as early as 3 hour post-injection, but the cumulative radioindium activity in feces was only 17% at 44 hour, indicating that the metabolite from DTPA conjugate does not clear readily through the biliary tract. Conclusion: The galactosylation of the MoAb conjugates resulted in higher hepatocyte uptake and enhanced metabolism, compared to those without galactosylation. Metabolism of the MoAb-conjugates is different between compounds radiolabled with different chelators due to different characteristics of radiometabolites generated in the liver.

Surgical Evaluation of Squamous Cell Carcinoma of the Lung (편평상피세포 폐암의 외과적 고찰)

  • An, Byeong-Hui;Mun, Hyeong-Seon;Na, Guk-Ju;Kim, Sang-Hyeong
    • Journal of Chest Surgery
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    • v.30 no.2
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    • pp.179-186
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    • 1997
  • The frequency of primary lung cancer is increasing compared to other cancer. Complete surgical resection is the most effective method of treatment, but it is limited to only 25 to 30 percent of patients after initial clinical presentation. The survival rate is different by the subtypes of carcinoma, stages, and general condition of patients. The author investigated the survival rate of 87 patients with squamous cell carcinoma of the lung after surgery. Age ranged from 31 to 73 years, with Lean 57.1) $\pm$ 7.15 and 80.5% (70 cases) was initially diagnosed at sixth and seventh decades. Male to female ratio was 8.9'1. Initial complaints were cough with sputum in 78.1%, weight loss in 31.0%, chest pain and discomfort in 29.9%, and hemoptysis in 24.1%. The location of the tumor was right side in 44.8% and left slde in 55.2% ; LUL in 39.1%, RLL in 20.7%, LLL in'16. 1%, RUL in 14.9% and RML in 9.2%. Stage I was 19.5%, stage II 25.3%, stage olla 54.1% and stage lIIb 1.1%. Operative procedures were as follow : pneumonectomy in 52.9%, lobectomy in 47.1%, sleeve upper lobectomy in 4 cases. Single mediastinal Iymph node involvement was observed in 17 cases, and multi-level mediastinal Iymph node involvement in 23 cases. Lower paratracheal Iymph node and subcarinal Lymph node were more frequently involved in right side lung cancer, with 8 and 10 cases, respectively and subaortic Iymph node was most frequently involved in left side lung cancer with 9 cases. Operative complications were hoarseness, wound infection and chylothorax in 7, 5 and 4 cases, respectively. The operative mortality was 2.2% and the cause of death was pulmonary edema. Postoperative follow-up period ranged from 1 month to 99 months with a mean of 29.95 $\pm$ 17.21 months. Overall one-year survival rate was 75.1 % and five-year survival rate was 29.8%. One-year and five-year survival rates were 93.7% and 52.4% for stage 1, 92.2% and 30.5% for st ge ll, and 61.2% and 17.4% for stage llla, respectively. These findings correlate survival rate with tumor size, mediastinal Iymph node metastasis and surgical resectability, and long-term survival can be expected with small sized tumor, absent mediastinal Iymph node metastasis and complete surgical resection.

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Stress in Olive Flounder (Paralichthys olivaceus) and Fat Cod (Hexagrammos otakii) by the Sudden Drop and Rise of Water Temperature (수온의 급하강과 급상승이 넙치 (Paralichthys olivaceus)와 쥐노래미(Hexagrammos otakii)에 미치는 스트레스)

  • CHANG Young Jin;HUR Jun Wook;LIM Han Kyu;LEE Jong Kwan
    • Korean Journal of Fisheries and Aquatic Sciences
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    • v.34 no.2
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    • pp.91-97
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    • 2001
  • The effects of sudden changes of water temperature (WT) on the stress response and physiological change of the cultured olive flounder in large (FL) and small (FS) size, and fat cod (FC) were examined by manipulating WT (2 types) in a flow through seawater culture system with 6 tanks (water vol. 270 L/tank). The WT was decreased from $20^{\circ}C$ to $10^{\circ}C$ within 5 hours ($2^{\circ}C/hour$) and maintained at $10^{\circ}C$ for 21 hours (Exp. I), and it was raised from $20^{\circ}C$ to $30^{\circ}C$ within 5 hours and maintained at $30^{\circ}C$ for 21 hours (Exp.II). In Exp. I, the levels of blood hematocrit at 5 hours ($10^{\circ}C$) in FS was significantly decreased from $13.5\pm2.0\%\;to\;11.3\pm2.3\%$, but FC at 2.5 hours ($15^{\circ}C$) ($19.0\pm0.3\%\;to\;23.2\pm3.8\%$) was increased, The blood hemoglobin concentration of all fish in Exp, II was significantly increased until 8 hours after raising WT from $20^{\circ}C$ to $30^{\circ}C$. In Exp. I and II , the levels of plasma cortisol in FL, FS and FC was changed from $5.2\pm8.5ng/mL,\;4.4\pm4.5ng/mL\;and\;2.7\pm0.4ng/mL$, respectively, before sudden drop and rise of WT. The levels of plasma cortisol of in FL ($164.0\pm53.1ng/mL$) and FC ($207.9\pm25.4ng/mL$) were significantly increased by the lowering WT sharply during whole experiment. The FL ($12.6\pm2.0ng/mL$) and FS ($4.0\pm3.9ng/mL$) showed no significant differences in cortisol level according to sudden rise of WT (5 hours). But it in FC ($44.7\pm18.2ng/mL$) was increased. In Exp. I, the plasma glucose levels of all fish groups were decreased after 5 hours ($10^{\circ}C$), The plasma lactic acid concentration of FL and FS showed no significant differences until 5 hours after raising WT from $20^{\circ}C$ to $30^{\circ}C$, But it in FC was significantly increased with WT raise.

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"Improving women's and children's health in DPRK" project funded by the Republic of Korea (현재 진행되고 있는 남북한 의료협력사업 : 영유아 지원 사업을 중심으로)

  • Shin, Young-Jeon
    • Clinical and Experimental Pediatrics
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    • v.51 no.7
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    • pp.671-689
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    • 2008
  • The economic recession of North Korea has been prolonged, the need for humanitarian assistance for the women and children of DPRK has been raised. In March 2006, South Korean government signed MOU with World Health Organization (WHO) to financially support "Improving Women's and Children's Health in DPRK (IWCH)" project. The assistance projects through UNICEF and the non-government organizations of South Korea were also followed. IWCH project consists of three parts; nutrition, disease management, children and maternity care. The first term (2006-2007) of the project leading by WHO was finished, and the second term (2008-2010) is just begun. The projects driven by NGOs have relatively been delayed due to difficulties in negotiating on project contents and places with North Korea. Recently, however, re-modeling processes of an obstetric/gynecology hospital and a children hospital in Nampo were started. Up to recently, South Korean government has played only a limited role in the humanitarian assistance for North Korea. IWCH project is, however, a full-scale initiative driven by government based on a systematic review of need and priorities. A significant amount of budget and relatively long term (five year) project compare to the previous short term and small size programs were expected to make more meaningful achievement. Despite these positive aspects, the project remains a list of unsolved problems a lack of mutual trust, a different decision making process between South and North Korea, a lack of conflict management process, and unpredictability and complexity of international politics. In spite of such kind of political uncertainty, the health care sector will be a leading area in the process of improving relationship between South and North Korea, particularly, humanitarian assistance for women and children will play a crucial role in the process. The successful implementation of IWCH project, therefore, will contribute to provide the reference model in developing the mutually constructive relationship between South and North