• The Journal of Asian Finance, Economics and Business
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• v.8 no.1
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• pp.53-59
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• 2021

This research aims to examine the model of investor herding behavior in making investment decisions in the Indonesian capital market, which is influenced by social and information impacting on the value of the Book Value Per Share (BVPS). The latest stock market conditions show that most investors make the same error pattern in making investment decisions that result in losses. The experiment involves two independent variables, namely, information about BVPS and social influence. This study used a 2×2 factorial design laboratory experimental method. Data collection was carried out through treatment of a sample of 100 individual investors listed on the Indonesia Stock Exchange. Univariate Two-Way Analysis of Variance (ANOVA) statistical tool was used to test the independent variable on the dependent variable. Research results showed that the social influence originating from expert investors is more influential than the Book Value Per Share (BVPS) information on the behavior of herding investors in making investment decisions. These findings suggest that investors know their psychological factors, thereby increasing self-control and investment analysis skills. Further research can use psychological bias and other indicators of accounting relevant information such as Earning Per Share (EPS) to test herding behavior in investment decision making in the capital market.

• Communications for Statistical Applications and Methods
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• v.27 no.6
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• pp.649-673
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• 2020

This paper makes a theoretical contribution by providing clear and detailed derivation of economic agents' decision problems including elastic labor supply in Gertler's overlapping generation (OLG) model. We apply the model to the Korean economy by calibration based on Korean economic data. It also analyzes the impact of current social issues such as aging and extension of retirement age, on the Korean economy in a long-run equilibrium. Subsequently, we also discuss the implications of the analysis. Aging has prolonged the period of retirement; therefore, population structure changes by the increase in the proportion of retirees, the total consumption-to-GDP ratio decreases, and capital stock increases due to reduced propensity to consume out of wealth in preparation for an individual's retirement life. The implementation of retirement age extension increases the proportion of retirees relatively less and alleviates fluctuations in labor supply and the share of financial assets for both economic agents. However, the decrements in consumption-to-GDP ratio is larger than before, and this leads to a larger rise in the capital stock compared to when there is only an aging effect.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.7
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• pp.81-91
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• 2022

The aim of this paper was to analyze the determinants of the extent of individual credit rationing at Can Tho Military Commercial Joint Stock Bank (MB). The data was collected from 150 customers according to the systematic random sampling method listed in the bank. This study employed quantitative analysis methods, and Tobit regression model, to test the proposed hypotheses. The results showed that the average loan amount of an individual customer was 1,181.3 million VND, the average credit limit was 48.6%, and the average interest rate was 10.9% per year. Most of the individual customers borrowed money to buy properties. In addition, the analysis results also indicated that individual borrowers still faced some difficulties in accessing bank credit, such as cumbersome procedures, long waiting times, insufficient collateral assets, and loan documents. The results of the Tobit model pointed out that there were five factors affecting the degree of credit rationing to individual customers at the bank, including (1) Collateral, (2) Income, (3) Credit history, (4) Loan purpose, (5) Relationship between borrower and bank. Based on the empirical findings, the possible solutions for the bank and individual borrowers to improve credit efficiency for individual customers at commercial banks are obtained.

• Earthquakes and Structures
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• v.1 no.1
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• pp.109-127
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• 2010

This work aims at introducing structural sensitivity analysis capabilities into existing commercial finite element software codes for the purpose of mapping retrofit strategies for a broad group of structures including heritage-type buildings. More specifically, the first stage sensitivity analysis is implemented for the standard deterministic environment, followed by stochastic structural sensitivity analysis defined for the probabilistic environment in a subsequent, second phase. It is believed that this new generation of software that will be released by the industrial partner will address the needs of a rapidly developing specialty within the engineering design profession, namely commercial retrofit and rehabilitation activities. In congested urban areas, these activities are carried out in reference to a certain percentage of the contemporary building stock that can no longer be demolished to give room for new construction because of economical, historical or cultural reasons. Furthermore, such analysis tools are becoming essential in reference to a new generation of national codes that spell out in detail how retrofit strategies ought to be implemented. More specifically, our work focuses on identifying the minimum-cost intervention on a given structure undergoing retrofit. Finally, an additional factor that arises in earthquake-prone regions across the world is the random nature of seismic activity that further complicates the task of determining the dynamic overstress that is being induced in the building stock and the additional demands placed on the supporting structural system.

• The Korean Journal of Applied Statistics
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• v.28 no.3
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• pp.429-442
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• 2015

Volatility forecasting in financial markets is an important issue because it is directly related to the profit of return. The volatility is generally modeled as time-varying conditional heteroskedasticity. A generalized autoregressive conditional heteroskedastic (GARCH) model is often used for modeling; however, it is not suitable to reflect structural changes (such as a financial crisis or debt crisis) into the volatility. As a remedy, we introduce the Markov regime switching GARCH (MRS-GARCH) model. For the empirical example, we analyze and forecast the volatility of the daily Korea Composite Stock Price Index (KOSPI) data from January 4, 2000 to October 30, 2014. The result shows that the regime of low volatility persists with a leverage effect. We also observe that the performance of MRS-GARCH is superior to other GARCH models for in-sample fitting; in addition, it is also superior to other models for long-term forecasting in out-of-sample fitting. The MRS-GARCH model can be a good alternative to GARCH-type models because it can reflect financial market structural changes into modeling and volatility forecasting.

• Journal of Microbiology and Biotechnology
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• v.21 no.2
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• pp.170-175
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• 2011

This study was carried out for the molecular level identification of recombinant protein vaccine efficacy, by oral feeding against white spot syndrome virus infection, with the comparison of viral mRNA transcriptional levels in shrimp cells. For the determination of WSSV dilution ratio for the vaccination experiment by oral feeding, in vivo virus titration was carried out using different virus dilutions of virus stock ($1{\times}10^2$, $2{\times}10^2$, and $1{\times}10^3$). Among the dilution ratios, $2{\times}10^2$ diluted WSSV stock was chosen as the optimal condition because this dilution showed 90% mortality at 10 days after virus injection. Recombinant viral proteins, rVP19 and rVP28, produced as protein vaccines were delivered in shrimps by oral feeding. The cumulative mortalities of the shrimps vaccinated with rVP19 and rVP28 at 21 days after the challenge with WSSV were 66.7% and 41.7%, respectively. This indicates that rVP28 showed a better protective effect against WSSV in shrimp than rVP19. Through the comparison of mRNA transcriptional levels of viral genes from collected shrimp organ samples, it was confirmed that viral gene transcriptions of vaccinated shrimps were delayed for 4~10 days compared with those of unvaccinated shrimps. Protection from WSSV infection in shrimp by the vaccination with recombinant viral proteins could be accomplished by the prevention of entry of WSSV due to the shrimp immune system activated by recombinant protein vaccines.

• Computers and Concrete
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• v.26 no.3
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• pp.203-211
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• 2020

Turkey is located in one of the most seismically active regions of in Europe. The majority of the population living in big cities are at high seismic risk due to insufficient structural resistance of the existing buildings. Such a seismic risk brings the need for a comprehensive seismic evaluation based on the risk analysis in Turkey. Determining the seismic resistance level of existing building stock against the earthquakes is the first step to reduce the damages in a possible earthquake. Recently in January 2020, the Elazig earthquake brought the importance of the issue again in the public. However, the excessive amount of building stock, labor, and resource problems made the implementation phase almost impossible and revealed the necessity to carry out alternative studies on this issue. This study aims for a detailed investigation of residential buildings in Antalya, Turkey. The approach proposed here can be considered an improved state of building survey methods previously identified in Turkey's Design Code. Antalya, Turkey's fifth most populous city, with a population over 2.5 Million, was investigated as divided into sub-regions to understand the vulnerability, and a threshold value found for the study area. In this study, 26,610 reinforced concrete buildings between 1 to 7 stories in Antalya were examined by using the rapid visual assessment method. A specific threshold value for the city of Antalya was determined with the second level examination and statistical methods carried out in the determined sub-region. With the micro zonation process, regions below the threshold value are defined as the priority areas that need to be examined in detail. The developed methodology can be easily calibrated for application in other cities and can be used to determine new threshold values for those cities.

• Transactions of the Korean Society of Automotive Engineers
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• v.21 no.2
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• pp.45-54
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• 2013

In this paper, a theoretical weight-reduction method was suggested to substitute an underframe material of a box-type bodyshell having cut-outs with an alternative light-weight material. To utilize the material substitution method previously developed for a box-type hybrid bodyshell not having cut-outs, we derived a box-type baseline model without cut-outs which is similar to the stiffness condition of a box-type bodyshell having cut-outs. To do this, the thicknesses of roof and walls of the baseline model were determined such that the deflection of the baseline model under a distributed vertical load condition is equal to the sum of the theoretical section deflections of the original box model with cut-outs. Next, to derive a hybrid bodyshell by under-frame material substitution, the material substitution method for a box-type hybrid bodyshell without cut-outs was applied to the box-type baseline model. Finally, we compared the FE simulation results of the derived hybrid bodyshells having cut-outs for various materials with the theoretical results of the suggested method, and we obtained their good correlations.

• Journal of Internet Computing and Services
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• v.24 no.5
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• pp.107-120
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• 2023

The public bicycle of Seoul, Ttareungyi, was launched at October 2015 to reduce traffic and carbon emissions in downtown Seoul and now, 2023 Oct, the cumulative number of user is upto 4 million and the number of bike is about 43,000 with about 2700 stations. However, super growth of Ttareungyi has caused the several problems, especially demand/supply mismatch, and thus the Seoul citizen has been complained about out of stock. In this point, this study conducted a real time demand forecasting model to prevent stock out bike at stations. To develop the model, the research team gathered the rental·return transaction data of 20,000 bikes in whole 1600 stations for 2019 year and then analyzed bike usage, user behavior, bike stations, and so on. The forecasting model using machine learning is developed to predict the amount of rental/return on each bike station every hour through daily learning with the recent 90 days data with the weather information. The model is validated with MAE and RMSE of bike stations, and tested as a prototype service on the Seoul Bike Management System(Mobile App) for the relocation team of Seoul City.

• Journal of the Korean Society of Safety
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• v.29 no.4
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• pp.140-146
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• 2014

This paper presents a case study to develop e-learning contents of agricultural safety based on the assessment of risks of 4 selected crops and stock farming: rice, potatoes, apples, tomatoes and stock raising. The aged farmers, who are main workforce of current Korean agriculture and relatively more vulnerable to various risks of agricultural work compared to younger workers, were considered as the main users of the contents in developing them. The safety guidelines were presented as simple as possible and the interfaces were designed to be simple and easy to use so that the older users can use it without much difficulty. In making the scenarios of the contents, risk assessments were carried out for each crop and stock farming with the focus being on occupational diseases rather than accidental injuries. To make the contents more attractive to the farmers, the functions requiring active responses from the users, such as answering simple questions, were included in the contents. Usability evaluation by experts of ergonomics and agricultural tasks were carried out in modifying the draft version, whereas formal usability test was not included in the case study. Though there are some limitations in the developed contents in the aspects of evaluation of usability and effectiveness, this case study shows the structured procedure of developing e-learning safety contents based on the risk assessments on agricultural tasks. The developed e-learning contents are expected to be used practically and easily in educating and training older farmers about safety and health of agricultural tasks.