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A Study for how a CEO's moral management influences on his employees' absorbing into their business in a Stock company (증권회사 CEO의 윤리경영이 조직몰입에 미치는 영향 연구)

  • Kang, Chang-Won
    • Journal of Distribution Science
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    • v.6 no.1
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    • pp.63-77
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    • 2008
  • The source of a business competition is man and the core of a business success depends on people's ability, efforts and cooperation. Therefore, modern managers are making varied efforts to perform the ethical management for the organization immersion and job satisfaction of the employees. The managers of the financial agencies including the enterprises competing in the global market, face numerous ethical issues and problems. Considering the reality that financial institutions are actively asked to perform the responsibility and duties sincerely, the tasks how the head of financial agency will accept the social study of the level of ethics and change the level of recognition, and how he will settle it as the natural feature in the institution, become an important management target. In addition, it is necessary to figure out how the ethical management of the head of the financial agency will affect the organizational immersion of the employees. Based on the objective of this study, we attempted to confirm how the ethical management will of the head of the financial institution would affect the organizational immersion, the employees' mental result variables. Through this study, it became necessary for the directors of the financial institutions to search for the methods to improve the system of management and enhance the observance will of the business ethics so that they may not cause the disposition of the violation of the business ethics owing to the enforcement to achieve the target of the results of the business or the error recognition of the norm. Further, the heads of banks will have to set a management policy focused on the democratic management and the ethical justice based on the participating methods to induce the cooperative commitment of the stock company employees not to be shifted from the globalization and the competitive society.

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Estimating Forest Carbon Stocks in Danyang Using Kriging Methods for Aboveground Biomass (크리깅 기법을 이용한 단양군의 산림 탄소저장량 추정 - 지상부 바이오매스를 대상으로 -)

  • Park, Hyun-Ju;Shin, Hyu-Seok;Roh, Young-Hee;Kim, Kyoung-Min;Park, Key-Ho
    • Journal of the Korean Association of Geographic Information Studies
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    • v.15 no.1
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    • pp.16-33
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    • 2012
  • The aim of this study is to estimate aboveground biomass carbon stocks using ordinary kriging(OK) which is the most commonly used type of kriging and regression kriging(RK) that combines a regression of the auxiliary variables with simple kriging. The analysis results shows that the forest carbon stock in Danyang is estimated at 3,459,902 tonC with OK and 3,384,581 tonC with RK in which the R-square value of the regression model is 0.1033. The result of RK conducted with sample plots stratified by forest type(deciduous, conifer and mixed) shows the lowest estimated value of 3,336,206 tonC and R-square value(0.35 and 0.18 respectively) is higher than that of when all sample plots used. The result of leave-one-out cross validation of each method indicates that RK with all sample plots reached the smallest root mean square error(RMSE) value(22.32 ton/ha) but the difference between the methods(0.23 ton/ha) is not significant.

Estimation and Decomposition of Portfolio Value-at-Risk (포트폴리오위험의 추정과 분할방법에 관한 연구)

  • Kim, Sang-Whan
    • The Korean Journal of Financial Management
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    • v.26 no.3
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    • pp.139-169
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    • 2009
  • This paper introduces the modified VaR which takes into account the asymmetry and fat-tails of financial asset distribution, and then compares its out-of-sample forecast performance with traditional VaR model such as historical simulation model and Riskmetrics. The empirical tests using stock indices of 6 countries showed that the modified VaR has the best forecast accuracy. At the test of independence, Riskmetrics and GARCH model showed best performances, but the independence was not rejected for the modified VaR. The Monte Carlo simulation using skew t distribution again proved the best forecast performance of the modified VaR. One of many advantages of the modified VaR is that it is appropriate for measuring VaR of the portfolio, because it can reflect not only the linear relationship but also the nonlinear relationship between individual assets of the portfolio through coskewness and cokurtosis. The empirical analysis about decomposing VaR of the portfolio of 6 stock indices confirmed that the component VaR is very useful for the re-allocation of component assets to achieve higher Sharpe ratio and the active risk management.

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Studies on the Juvenile Grafts with Plastic Tubes for Forcing Stock Growth in Juglans sinensis (호도나무 대목촉성재(臺木促成材) Plastic원통(圓筒)을 이용(利用)한 유경녹기(幼莖綠技) 접목(接木)에 관(關)한 연구(硏究))

  • Youn, Ki Sik;Goo, Gwan Hyo;Jo, Chung Suk
    • Journal of Korean Society of Forest Science
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    • v.78 no.2
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    • pp.189-197
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    • 1989
  • This study was carried out to produce the grafts of Juglans sinensis by juvenile grafting method which epicotyl of newly germinated seeds were used as stocks and juvenile fresh shoots were used as scion. The results obtained were as follows ; 1. When plastic tube installed covering up seed with soil up to 6cm height for diameter increment of epicotyl, the epicotyl can be grown up to thickness of 10mm. 2. When the soft fruit branches and the soft water sprout with the terminal bud 8cm to 12cm long were used as scions, the survival rates showed 90 Percent. 3. The optimum date for making juvenile grafts was around the 20th of May, and the survival rates of grafted seedlings showed 86 percent in average. 4. The grafted seedlings showed first sprouting the 15th of June, that is 25 days after making graft, and the sprouting rate was 72 percent. 5. The height-growth of grafted seedlings finished at the end of July, and diameter growth lasted into the end of October. 6. There was positive correlation between the height of grafted seedlings and the diameter at root collar. 7. In general, it takes two years to make plantable graft seedlings from hardwood scion and stock, but the juvenile graft seedlings can be easily obtained in a year and so it seems to be economic.

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An Empirical Study on Factors Affecting Organizational Survival of Entertainment Corporations (조직생존요인에 관한 실증분석 : 엔터테인먼트 기업을 대상으로)

  • Kim, Hun;Kim, Jung Hoon
    • Review of Culture and Economy
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    • v.20 no.1
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    • pp.129-161
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    • 2017
  • Korea's entertainment industry laid its foundation in the early 2000s when global popularity of South Korean soap operas increased in Japan. K-pop has been recently leading the popularity in China. However, many Korean entertainment businesses are dying out. This study reviews factors influencing business survival for 42 chosen corporations listed in the Korea Stock Exchange based on organizational ecology. When all of the variables are analyzed at the same time, long period of public offering and high wages and global sales ratio positively affect business survival. When the individual variables are separately analyzed, long period of public offering and CEO incumbency and high wages and global sales ratio positively affect business survival. Meanwhile, size of businesses do not affect the survival. The results of this study imply that policies to help businesses list an entertainment corporation in the Korea Stock Exchange, increase sales and reciprocity with other culture are needed. Laws and institutions for evaluating intangible asset value should be improved. The results also suggest that a corporation should carefully consider change of CEO and make the best use of the popularity of Korean culture to increase global sales and pay competitive wages to attract professionals.

Change of relative fishing power index from technological development in the small yellow croaker drift gillnet fishery (참조기 유자망어업에서 어로기술개발에 따른 어획성능지수 변동)

  • SEO, Young-Il;OH, Taeg-Yun;CHA, Hyung-Kee;KIM, Byung-Yeob;JO, Hyun-Su;JEONG, Tae-Young;LEE, Yoo-Won
    • Journal of the Korean Society of Fisheries and Ocean Technology
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    • v.55 no.3
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    • pp.198-205
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    • 2019
  • The small yellow croaker (Larimichthys polyactis) is one of the representative high-class fish species in Korea. The catch of small yellow croaker in adjacent water fisheries has been continuously decreasing from 59,226 tons in 2011 to 19,271 tons in 2016. The small yellow croaker is caught by gillnet, stow net and bottom trawl, among which about 55~65% is caught by gillnet. For the sustainable use of small yellow croaker, the fishing power of small yellow croaker drift gillnet is very important. Therefore, the change of fishing power index were analyzed to identify the development of the vessel and gear technology that may have improved the fishing efficiency of the small yellow croaker drift gillnet fishery from 1960s to 2010s. Gross tonnage and horse power per fishing vessel was increased annually. The mesh size was 75.0 mm in the 1960s, but reduced to 60.6 mm in the 1980s and to 51.0 mm in the 2000s. In the 1960s, it was hauled out by manpower. However, the net hauler were modernized and supply rate was also increased since 1970. Due to the mechanization of the net hauler, the number (length) of used net gradually increased from 1.5 km in the 1960s to 7.5 km in the mid-1980s and to 15 km in 2010. Colour fish finders and positioning system were introduced and utilized from the mid-1980s. Surveys on the supply and upgrading of fishing equipment utilized visiting research. Therefore, the relative fishing power index in the small yellow croaker drift gillnet fishery increased from 1.0 in 1980 to 0.8 in 1970, to 1.1 in 1990, to 1.6 in 2000 and to 1.9 in 2010. The results are expected to contribute to reasonable fisheries stock management of the small yellow croaker drift gillnet fishery.

Quantitative analysis on the technical interoperability between railway systems for the operation of trans-continental railways (대륙철도 운행을 위한 기술적 상호운용성에 대한 계량적 분석)

  • Park, Su-Myung;Park, Eun-Kyung
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.19 no.12
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    • pp.645-652
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    • 2018
  • Recently, as South Korea has joined the OSJD, the rules of the OSJD need to be applied to South Korea. Therefore, the railways are connected to the continent railway in terms of software, but the railway systems in neighboring countries have been developed and operated for a long time, and are quite different with some restrictions in terms of hardware. Therefore, this study analyzed the current railway systems of neighboring countries' based on the TSI used in Europe for technical interoperability. A real operation with the operation models within the specific route was assumed and vector functions for the Infrastructure vector & Rolling stock vector were produced. The IOP value was calculated by working out the interfacing matrix value between the infrastructure vector and rolling stock vector. As a result of calculating the IOP in a specific route, which is from Busan South Korea to Vladivostok with the diesel locomotive hauling freight cars, the value was only 22%, which is fairly low in terms of the interoperability. In other words, there are 77.8% restricting items preventing their interoperability. Such restricted causes should be improved to increase the technical interoperability in the long term. Moreover, and when railway systems are constructed and manufactured, it is important to keep IOP 100% to increase the operating efficiency in continental railways.

An Empirical Study on the Effects of Category Tactics on Sales Performance in Category Management - A Comparative Study by Store Type and Market Position - (카테고리 매출성과에 영향을 미치는 카테고리 관리 전술들에 대한 실증연구 - 점포유형과 시장포지션에 따른 비교분석 -)

  • Chun, Dal-Young
    • Journal of Distribution Research
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    • v.12 no.3
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    • pp.23-48
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    • 2007
  • Category management has been implemented to enhance competitiveness in the food distribution industry since 2000 in Korea. This study helps to understand why suppliers achieve better or worse performance than competitors in a category. The major objective of this article is to explore which category tactics are effective to have influence on category performance when suppliers as a category captain implement category management with variety enhancer categories like shampoo, toothpaste, and detergent. The Nielsen data were analyzed using regression and Chow test. The empirical results that were varied upon the store type and market position found out which specific actions on product assortments, pricing, shelving, and product replenishment can increase category sales. Specifically, in the case of market leader in large supermarket, the significant indicators of category sales with respect to category tactics are the out-of-stock rate, the variance across brand shares, the forward inventory, and the days supply of a product. However, in the case of follower in large supermarket, the significant indicators of category sales are the variance across brand shares, the forward inventory, and the days supply of a product. On the other hand, in the case of small supermarket, the significant factors on category sales for both market leader and follower are the retail distribution rate, the variance across brand shares, the forward inventory, and the days supply of a product category. In sum, regardless of the store type and market position, dominant brands in a category, the forward inventory, and short days supply of a product improved performance in all categories. Critical difference is that the out-of-stock rate acted as a key ingredient for the market leader between large and small supermarket and the retail distribution rate for the follower between large and small supermarket. This article presents some theoretical and managerial implications of the empirical results and finalizes the paper by addressing limitations and future research directions.

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Optimization of Support Vector Machines for Financial Forecasting (재무예측을 위한 Support Vector Machine의 최적화)

  • Kim, Kyoung-Jae;Ahn, Hyun-Chul
    • Journal of Intelligence and Information Systems
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    • v.17 no.4
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    • pp.241-254
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    • 2011
  • Financial time-series forecasting is one of the most important issues because it is essential for the risk management of financial institutions. Therefore, researchers have tried to forecast financial time-series using various data mining techniques such as regression, artificial neural networks, decision trees, k-nearest neighbor etc. Recently, support vector machines (SVMs) are popularly applied to this research area because they have advantages that they don't require huge training data and have low possibility of overfitting. However, a user must determine several design factors by heuristics in order to use SVM. For example, the selection of appropriate kernel function and its parameters and proper feature subset selection are major design factors of SVM. Other than these factors, the proper selection of instance subset may also improve the forecasting performance of SVM by eliminating irrelevant and distorting training instances. Nonetheless, there have been few studies that have applied instance selection to SVM, especially in the domain of stock market prediction. Instance selection tries to choose proper instance subsets from original training data. It may be considered as a method of knowledge refinement and it maintains the instance-base. This study proposes the novel instance selection algorithm for SVMs. The proposed technique in this study uses genetic algorithm (GA) to optimize instance selection process with parameter optimization simultaneously. We call the model as ISVM (SVM with Instance selection) in this study. Experiments on stock market data are implemented using ISVM. In this study, the GA searches for optimal or near-optimal values of kernel parameters and relevant instances for SVMs. This study needs two sets of parameters in chromosomes in GA setting : The codes for kernel parameters and for instance selection. For the controlling parameters of the GA search, the population size is set at 50 organisms and the value of the crossover rate is set at 0.7 while the mutation rate is 0.1. As the stopping condition, 50 generations are permitted. The application data used in this study consists of technical indicators and the direction of change in the daily Korea stock price index (KOSPI). The total number of samples is 2218 trading days. We separate the whole data into three subsets as training, test, hold-out data set. The number of data in each subset is 1056, 581, 581 respectively. This study compares ISVM to several comparative models including logistic regression (logit), backpropagation neural networks (ANN), nearest neighbor (1-NN), conventional SVM (SVM) and SVM with the optimized parameters (PSVM). In especial, PSVM uses optimized kernel parameters by the genetic algorithm. The experimental results show that ISVM outperforms 1-NN by 15.32%, ANN by 6.89%, Logit and SVM by 5.34%, and PSVM by 4.82% for the holdout data. For ISVM, only 556 data from 1056 original training data are used to produce the result. In addition, the two-sample test for proportions is used to examine whether ISVM significantly outperforms other comparative models. The results indicate that ISVM outperforms ANN and 1-NN at the 1% statistical significance level. In addition, ISVM performs better than Logit, SVM and PSVM at the 5% statistical significance level.

A Study on Knowledge Entity Extraction Method for Individual Stocks Based on Neural Tensor Network (뉴럴 텐서 네트워크 기반 주식 개별종목 지식개체명 추출 방법에 관한 연구)

  • Yang, Yunseok;Lee, Hyun Jun;Oh, Kyong Joo
    • Journal of Intelligence and Information Systems
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    • v.25 no.2
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    • pp.25-38
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    • 2019
  • Selecting high-quality information that meets the interests and needs of users among the overflowing contents is becoming more important as the generation continues. In the flood of information, efforts to reflect the intention of the user in the search result better are being tried, rather than recognizing the information request as a simple string. Also, large IT companies such as Google and Microsoft focus on developing knowledge-based technologies including search engines which provide users with satisfaction and convenience. Especially, the finance is one of the fields expected to have the usefulness and potential of text data analysis because it's constantly generating new information, and the earlier the information is, the more valuable it is. Automatic knowledge extraction can be effective in areas where information flow is vast, such as financial sector, and new information continues to emerge. However, there are several practical difficulties faced by automatic knowledge extraction. First, there are difficulties in making corpus from different fields with same algorithm, and it is difficult to extract good quality triple. Second, it becomes more difficult to produce labeled text data by people if the extent and scope of knowledge increases and patterns are constantly updated. Third, performance evaluation is difficult due to the characteristics of unsupervised learning. Finally, problem definition for automatic knowledge extraction is not easy because of ambiguous conceptual characteristics of knowledge. So, in order to overcome limits described above and improve the semantic performance of stock-related information searching, this study attempts to extract the knowledge entity by using neural tensor network and evaluate the performance of them. Different from other references, the purpose of this study is to extract knowledge entity which is related to individual stock items. Various but relatively simple data processing methods are applied in the presented model to solve the problems of previous researches and to enhance the effectiveness of the model. From these processes, this study has the following three significances. First, A practical and simple automatic knowledge extraction method that can be applied. Second, the possibility of performance evaluation is presented through simple problem definition. Finally, the expressiveness of the knowledge increased by generating input data on a sentence basis without complex morphological analysis. The results of the empirical analysis and objective performance evaluation method are also presented. The empirical study to confirm the usefulness of the presented model, experts' reports about individual 30 stocks which are top 30 items based on frequency of publication from May 30, 2017 to May 21, 2018 are used. the total number of reports are 5,600, and 3,074 reports, which accounts about 55% of the total, is designated as a training set, and other 45% of reports are designated as a testing set. Before constructing the model, all reports of a training set are classified by stocks, and their entities are extracted using named entity recognition tool which is the KKMA. for each stocks, top 100 entities based on appearance frequency are selected, and become vectorized using one-hot encoding. After that, by using neural tensor network, the same number of score functions as stocks are trained. Thus, if a new entity from a testing set appears, we can try to calculate the score by putting it into every single score function, and the stock of the function with the highest score is predicted as the related item with the entity. To evaluate presented models, we confirm prediction power and determining whether the score functions are well constructed by calculating hit ratio for all reports of testing set. As a result of the empirical study, the presented model shows 69.3% hit accuracy for testing set which consists of 2,526 reports. this hit ratio is meaningfully high despite of some constraints for conducting research. Looking at the prediction performance of the model for each stocks, only 3 stocks, which are LG ELECTRONICS, KiaMtr, and Mando, show extremely low performance than average. this result maybe due to the interference effect with other similar items and generation of new knowledge. In this paper, we propose a methodology to find out key entities or their combinations which are necessary to search related information in accordance with the user's investment intention. Graph data is generated by using only the named entity recognition tool and applied to the neural tensor network without learning corpus or word vectors for the field. From the empirical test, we confirm the effectiveness of the presented model as described above. However, there also exist some limits and things to complement. Representatively, the phenomenon that the model performance is especially bad for only some stocks shows the need for further researches. Finally, through the empirical study, we confirmed that the learning method presented in this study can be used for the purpose of matching the new text information semantically with the related stocks.