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Corporate Default Prediction Model Using Deep Learning Time Series Algorithm, RNN and LSTM (딥러닝 시계열 알고리즘 적용한 기업부도예측모형 유용성 검증)

  • Cha, Sungjae;Kang, Jungseok
    • Journal of Intelligence and Information Systems
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    • v.24 no.4
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    • pp.1-32
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    • 2018
  • In addition to stakeholders including managers, employees, creditors, and investors of bankrupt companies, corporate defaults have a ripple effect on the local and national economy. Before the Asian financial crisis, the Korean government only analyzed SMEs and tried to improve the forecasting power of a default prediction model, rather than developing various corporate default models. As a result, even large corporations called 'chaebol enterprises' become bankrupt. Even after that, the analysis of past corporate defaults has been focused on specific variables, and when the government restructured immediately after the global financial crisis, they only focused on certain main variables such as 'debt ratio'. A multifaceted study of corporate default prediction models is essential to ensure diverse interests, to avoid situations like the 'Lehman Brothers Case' of the global financial crisis, to avoid total collapse in a single moment. The key variables used in corporate defaults vary over time. This is confirmed by Beaver (1967, 1968) and Altman's (1968) analysis that Deakins'(1972) study shows that the major factors affecting corporate failure have changed. In Grice's (2001) study, the importance of predictive variables was also found through Zmijewski's (1984) and Ohlson's (1980) models. However, the studies that have been carried out in the past use static models. Most of them do not consider the changes that occur in the course of time. Therefore, in order to construct consistent prediction models, it is necessary to compensate the time-dependent bias by means of a time series analysis algorithm reflecting dynamic change. Based on the global financial crisis, which has had a significant impact on Korea, this study is conducted using 10 years of annual corporate data from 2000 to 2009. Data are divided into training data, validation data, and test data respectively, and are divided into 7, 2, and 1 years respectively. In order to construct a consistent bankruptcy model in the flow of time change, we first train a time series deep learning algorithm model using the data before the financial crisis (2000~2006). The parameter tuning of the existing model and the deep learning time series algorithm is conducted with validation data including the financial crisis period (2007~2008). As a result, we construct a model that shows similar pattern to the results of the learning data and shows excellent prediction power. After that, each bankruptcy prediction model is restructured by integrating the learning data and validation data again (2000 ~ 2008), applying the optimal parameters as in the previous validation. Finally, each corporate default prediction model is evaluated and compared using test data (2009) based on the trained models over nine years. Then, the usefulness of the corporate default prediction model based on the deep learning time series algorithm is proved. In addition, by adding the Lasso regression analysis to the existing methods (multiple discriminant analysis, logit model) which select the variables, it is proved that the deep learning time series algorithm model based on the three bundles of variables is useful for robust corporate default prediction. The definition of bankruptcy used is the same as that of Lee (2015). Independent variables include financial information such as financial ratios used in previous studies. Multivariate discriminant analysis, logit model, and Lasso regression model are used to select the optimal variable group. The influence of the Multivariate discriminant analysis model proposed by Altman (1968), the Logit model proposed by Ohlson (1980), the non-time series machine learning algorithms, and the deep learning time series algorithms are compared. In the case of corporate data, there are limitations of 'nonlinear variables', 'multi-collinearity' of variables, and 'lack of data'. While the logit model is nonlinear, the Lasso regression model solves the multi-collinearity problem, and the deep learning time series algorithm using the variable data generation method complements the lack of data. Big Data Technology, a leading technology in the future, is moving from simple human analysis, to automated AI analysis, and finally towards future intertwined AI applications. Although the study of the corporate default prediction model using the time series algorithm is still in its early stages, deep learning algorithm is much faster than regression analysis at corporate default prediction modeling. Also, it is more effective on prediction power. Through the Fourth Industrial Revolution, the current government and other overseas governments are working hard to integrate the system in everyday life of their nation and society. Yet the field of deep learning time series research for the financial industry is still insufficient. This is an initial study on deep learning time series algorithm analysis of corporate defaults. Therefore it is hoped that it will be used as a comparative analysis data for non-specialists who start a study combining financial data and deep learning time series algorithm.

A Study on the Tree Surgery Problem and Protection Measures in Monumental Old Trees (천연기념물 노거수 외과수술 문제점 및 보존 관리방안에 관한 연구)

  • Jung, Jong Soo
    • Korean Journal of Heritage: History & Science
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    • v.42 no.1
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    • pp.122-142
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    • 2009
  • This study explored all domestic and international theories for maintenance and health enhancement of an old and big tree, and carried out the anatomical survey of the operation part of the tree toward he current status of domestic surgery and the perception survey of an expert group, and drew out following conclusion through the process of suggesting its reform plan. First, as a result of analyzing the correlation of the 67 subject trees with their ages, growth status. surroundings, it revealed that they were closely related to positional characteristic, damage size, whereas were little related to materials by fillers. Second, the size of the affected part was the most frequent at the bough sheared part under $0.09m^2$, and the hollow size by position(part) was the biggest at 'root + stem' starting from the behind of the main root and stem As a result of analyzing the correlation, the same result was elicited at the group with low correlation. Third, the problem was serious in charging the fillers (especially urethane) in the big hollow or exposed root produced at the behind of the root and stem part, or surface-processing it. The benefit by charging the hollow part was analyzed as not so much. Fourth, the surface-processing of fillers currently used (artificial bark) is mainly 'epoxy+woven fabric+cork', but it is not flexible, so it has brought forth problems of frequent cracks and cracked surface at the joint part with the treetextured part. Fifth, the correlation with the external status of the operated part was very high with the closeness, surface condition, formation of adhesive tissue and internal survey result. Sixth, the most influential thing on flushing by the wrong management of an old and big tree was banking, and a wrong pruning was the source of the ground part damage. In pruning a small bough can easily recover itself from its damage as its formation of adhesive tissue when it is cut by a standard method. Seventh, the parameters affecting the times of related business handling of an old and big tree are 'the need of the conscious reform of the manager and related business'. Eighth, a reform plan in an institutional aspect can include the arrangement of the law and organization of the old and big tree management and preservation at an institutional aspect. This study for preparing a reform plan through the status survey of the designated old and big tree, has a limit inducing a reform plan based on the status survey through individual research, and a weak point suggesting grounds by any statistical data. This can be complemented by subsequent studies.

Conservation Status, Construction Type and Stability Considerations for Fortress Wall in Hongjuupseong (Town Wall) of Hongseong, Korea (홍성 홍주읍성 성벽의 보존상태 및 축성유형과 안정성 고찰)

  • Park, Junhyoung;Lee, Chanhee
    • Korean Journal of Heritage: History & Science
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    • v.51 no.3
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    • pp.4-31
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    • 2018
  • It is difficult to ascertain exactly when the Hongjuupseong (Town Wall) was first constructed, due to it had undergone several times of repair and maintenance works since it was piled up newly in 1415, when the first year of the reign of King Munjong (the 5th King of the Joseon Dynasty). Parts of its walls were demolished during the Japanese occupation, leaving the wall as it is today. Hongseong region is also susceptible to historical earthquakes for geological reasons. There have been records of earthquakes, such as the ones in 1978 and 1979 having magnitudes of 5.0 and 4.0, respectively, which left part of the walls collapsed. Again, in 2010, heavy rainfall destroyed another part of the wall. The fortress walls of the Hongjuupseong comprise various rocks, types of facing, building methods, and filling materials, according to sections. Moreover, the remaining wall parts were reused in repair works, and characteristics of each period are reflected vertically in the wall. Therefore, based on the vertical distribution of the walls, the Hongjuupseong was divided into type I, type II, and type III, according to building types. The walls consist mainly of coarse-grained granites, but, clearly different types of rocks were used for varying types of walls. The bottom of the wall shows a mixed variety of rocks and natural and split stones, whereas the center is made up mostly of coarse-grained granites. For repairs, pink feldspar granites was used, but it was different from the rock variety utilized for Suguji and Joyangmun Gate. Deterioration types to the wall can be categorized into bulging, protrusion of stones, missing stones at the basement, separation of framework, fissure and fragmentation, basement instability, and structural deformation. Manually and light-wave measurements were used to check the amount and direction of behavior of the fortress walls. A manual measurement revealed the sections that were undergoing structural deformation. Compared with the result of the light-wave measurement, the two monitoring methods proved correlational. As a result, the two measuring methods can be used complementarily for the long-term conservation and management of the wall. Additionally, the measurement system must be maintained, managed, and improved for the stability of the Hongjuupseong. The measurement of Nammunji indicated continuing changes in behavior due to collapse and rainfall. It can be greatly presumed that accumulated changes over the long period reached the threshold due to concentrated rainfall and subsequent behavioral irregularities, leading to the walls' collapse. Based on the findings, suggestions of the six grades of management from 0 to 5 have been made, to manage the Hongjuupseong more effectively. The applied suggested grade system of 501.9 m (61.10%) was assessed to grade 1, 29.5 m (3.77%) to grade 2, 10.4 m (1.33%) to grade 3, 241.2 m (30.80%) and grade 4. The sections with grade 4 concentrated around the west of Honghwamun Gate and the east of the battlement, which must be monitored regularly in preparation for a potential emergency. The six-staged management grade system is cyclical, where after performing repair and maintenance works through a comprehensive stability review, the section returned to grade 0. It is necessary to monitor thoroughly and evaluate grades on a regular basis.

A Study on Estimating Shear Strength of Continuum Rock Slope (연속체 암반비탈면의 강도정수 산정 연구)

  • Kim, Hyung-Min;Lee, Su-gon;Lee, Byok-Kyu;Woo, Jae-Gyung;Hur, Ik;Lee, Jun-Ki
    • Journal of the Korean Geotechnical Society
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    • v.35 no.5
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    • pp.5-19
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    • 2019
  • Considering the natural phenomenon in which steep slopes ($65^{\circ}{\sim}85^{\circ}$) consisting of rock mass remain stable for decades, slopes steeper than 1:0.5 (the standard of slope angle for blast rock) may be applied in geotechnical conditions which are similar to those above at the design and initial construction stages. In the process of analysing the stability of a good to fair continuum rock slope that can be designed as a steep slope, a general method of estimating rock mass strength properties from design practice perspective was required. Practical and genealized engineering methods of determining the properties of a rock mass are important for a good continuum rock slope that can be designed as a steep slope. The Genealized Hoek-Brown (H-B) failure criterion and GSI (Geological Strength Index), which were revised and supplemented by Hoek et al. (2002), were assessed as rock mass characterization systems fully taking into account the effects of discontinuities, and were widely utilized as a method for calculating equivalent Mohr-Coulomb shear strength (balancing the areas) according to stress changes. The concept of calculating equivalent M-C shear strength according to the change of confining stress range was proposed, and on a slope, the equivalent shear strength changes sensitively with changes in the maximum confining stress (${{\sigma}^{\prime}}_{3max}$ or normal stress), making it difficult to use it in practical design. In this study, the method of estimating the strength properties (an iso-angle division method) that can be applied universally within the maximum confining stress range for a good to fair continuum rock mass slope is proposed by applying the H-B failure criterion. In order to assess the validity and applicability of the proposed method of estimating the shear strength (A), the rock slope, which is a study object, was selected as the type of rock (igneous, metamorphic, sedimentary) on the steep slope near the existing working design site. It is compared and analyzed with the equivalent M-C shear strength (balancing the areas) proposed by Hoek. The equivalent M-C shear strength of the balancing the areas method and iso-angle division method was estimated using the RocLab program (geotechnical properties calculation software based on the H-B failure criterion (2002)) by using the basic data of the laboratory rock triaxial compression test at the existing working design site and the face mapping of discontinuities on the rock slope of study area. The calculated equivalent M-C shear strength of the balancing the areas method was interlinked to show very large or small cohesion and internal friction angles (generally, greater than $45^{\circ}$). The equivalent M-C shear strength of the iso-angle division is in-between the equivalent M-C shear properties of the balancing the areas, and the internal friction angles show a range of $30^{\circ}$ to $42^{\circ}$. We compared and analyzed the shear strength (A) of the iso-angle division method at the study area with the shear strength (B) of the existing working design site with similar or the same grade RMR each other. The application of the proposed iso-angle division method was indirectly evaluated through the results of the stability analysis (limit equilibrium analysis and finite element analysis) applied with these the strength properties. The difference between A and B of the shear strength is about 10%. LEM results (in wet condition) showed that Fs (A) = 14.08~58.22 (average 32.9) and Fs (B) = 18.39~60.04 (average 32.2), which were similar in accordance with the same rock types. As a result of FEM, displacement (A) = 0.13~0.65 mm (average 0.27 mm) and displacement (B) = 0.14~1.07 mm (average 0.37 mm). Using the GSI and Hoek-Brown failure criterion, the significant result could be identified in the application evaluation. Therefore, the strength properties of rock mass estimated by the iso-angle division method could be applied with practical shear strength.

Facile [11C]PIB Synthesis Using an On-cartridge Methylation and Purification Showed Higher Specific Activity than Conventional Method Using Loop and High Performance Liquid Chromatography Purification (Loop와 HPLC Purification 방법보다 더 높은 비방사능을 보여주는 카트리지 Methylation과 Purification을 이용한 손쉬운 [ 11C]PIB 합성)

  • Lee, Yong-Seok;Cho, Yong-Hyun;Lee, Hong-Jae;Lee, Yun-Sang;Jeong, Jae Min
    • The Korean Journal of Nuclear Medicine Technology
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    • v.22 no.2
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    • pp.67-73
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    • 2018
  • $[^{11}C]PIB$ synthesis has been performed by a loop-methylation and HPLC purification in our lab. However, this method is time-consuming and requires complicated systems. Thus, we developed an on-cartridge method which simplified the synthetic procedure and reduced time greatly by removing HPLC purification step. We compared 6 different cartridges and evaluated the $[^{11}C]PIB$ production yields and specific activities. $[^{11}C]MeOTf$ was synthesized by using TRACERlab FXC Pro and was transferred into the cartridge by blowing with helium gas for 3 min. To remove byproducts and impurities, cartridges were washed out by 20 mL of 30% EtOH in 0.5 M $NaH_2PO_4$ solution (pH 5.1) and 10 mL of distilled water. And then, $[^{11}C]PIB$ was eluted by 5 mL of 30% EtOH in 0.5 M $NaH_2PO_4$ into the collecting vial containing 10 mL saline. Among the 6 cartridges, only tC18 environmental cartridge could remove impurities and byproducts from $[^{11}C]PIB$ completely and showed higher specific activity than traditional HPLC purification method. This method took only 8 ~ 9 min from methylation to formulation. For the tC18 environmental cartridge and conventional HPLC loop methods, the radiochemical yields were $12.3{\pm}2.2%$ and $13.9{\pm}4.4%$, respectively, and the molar activities were $420.6{\pm}20.4GBq/{\mu}mol$ (n=3) and $78.7{\pm}39.7GBq/{\mu}mol$ (n=41), respectively. We successfully developed a facile on-cartridge methylation method for $[^{11}C]PIB$ synthesis which enabled the procedure more simple and rapid, and showed higher molar radio-activity than HPLC purification method.

Target-Aspect-Sentiment Joint Detection with CNN Auxiliary Loss for Aspect-Based Sentiment Analysis (CNN 보조 손실을 이용한 차원 기반 감성 분석)

  • Jeon, Min Jin;Hwang, Ji Won;Kim, Jong Woo
    • Journal of Intelligence and Information Systems
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    • v.27 no.4
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    • pp.1-22
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    • 2021
  • Aspect Based Sentiment Analysis (ABSA), which analyzes sentiment based on aspects that appear in the text, is drawing attention because it can be used in various business industries. ABSA is a study that analyzes sentiment by aspects for multiple aspects that a text has. It is being studied in various forms depending on the purpose, such as analyzing all targets or just aspects and sentiments. Here, the aspect refers to the property of a target, and the target refers to the text that causes the sentiment. For example, for restaurant reviews, you could set the aspect into food taste, food price, quality of service, mood of the restaurant, etc. Also, if there is a review that says, "The pasta was delicious, but the salad was not," the words "steak" and "salad," which are directly mentioned in the sentence, become the "target." So far, in ABSA, most studies have analyzed sentiment only based on aspects or targets. However, even with the same aspects or targets, sentiment analysis may be inaccurate. Instances would be when aspects or sentiment are divided or when sentiment exists without a target. For example, sentences like, "Pizza and the salad were good, but the steak was disappointing." Although the aspect of this sentence is limited to "food," conflicting sentiments coexist. In addition, in the case of sentences such as "Shrimp was delicious, but the price was extravagant," although the target here is "shrimp," there are opposite sentiments coexisting that are dependent on the aspect. Finally, in sentences like "The food arrived too late and is cold now." there is no target (NULL), but it transmits a negative sentiment toward the aspect "service." Like this, failure to consider both aspects and targets - when sentiment or aspect is divided or when sentiment exists without a target - creates a dual dependency problem. To address this problem, this research analyzes sentiment by considering both aspects and targets (Target-Aspect-Sentiment Detection, hereby TASD). This study detected the limitations of existing research in the field of TASD: local contexts are not fully captured, and the number of epochs and batch size dramatically lowers the F1-score. The current model excels in spotting overall context and relations between each word. However, it struggles with phrases in the local context and is relatively slow when learning. Therefore, this study tries to improve the model's performance. To achieve the objective of this research, we additionally used auxiliary loss in aspect-sentiment classification by constructing CNN(Convolutional Neural Network) layers parallel to existing models. If existing models have analyzed aspect-sentiment through BERT encoding, Pooler, and Linear layers, this research added CNN layer-adaptive average pooling to existing models, and learning was progressed by adding additional loss values for aspect-sentiment to existing loss. In other words, when learning, the auxiliary loss, computed through CNN layers, allowed the local context to be captured more fitted. After learning, the model is designed to do aspect-sentiment analysis through the existing method. To evaluate the performance of this model, two datasets, SemEval-2015 task 12 and SemEval-2016 task 5, were used and the f1-score increased compared to the existing models. When the batch was 8 and epoch was 5, the difference was largest between the F1-score of existing models and this study with 29 and 45, respectively. Even when batch and epoch were adjusted, the F1-scores were higher than the existing models. It can be said that even when the batch and epoch numbers were small, they can be learned effectively compared to the existing models. Therefore, it can be useful in situations where resources are limited. Through this study, aspect-based sentiments can be more accurately analyzed. Through various uses in business, such as development or establishing marketing strategies, both consumers and sellers will be able to make efficient decisions. In addition, it is believed that the model can be fully learned and utilized by small businesses, those that do not have much data, given that they use a pre-training model and recorded a relatively high F1-score even with limited resources.

Study on the Characteristics of Cultivation Period, Adaptive Genetic Resources, and Quantity for Cultivation of Rice in the Desert Environment of United Arab Emirates (United Arab Emirates 사막환경에서 벼 재배를 위한 재배기간, 유전자원 및 수량 특성 연구)

  • Jeong, Jae-Hyeok;Hwang, Woon-Ha;Lee, Hyeon-Seok;Yang, Seo-Yeong;Choi, Myoung-Goo;Kim, Jun-Hwan;Kim, Jae-Hyeon;Jung, Kang-Ho;Lee, Su-Hwan;Oh, Yang-Yeol;Lee, Kwang-Seung;Suh, Jung-Pil;Jung, Ki-Yuol;Lee, Jae-Su;Choi, In-Chan;Yu, Seung-hwa;Choi, Soon-Kun;Lee, Seul-Bi;Lee, Eun-Jin;Lee, Choung-Keun;Lee, Chung-Kuen
    • Korean Journal of Agricultural and Forest Meteorology
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    • v.24 no.3
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    • pp.133-144
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    • 2022
  • This study was conducted to investigate the cultivation period, adaptive genetic resources, growth and development patterns, and water consumption for rice cultivation in the desert environment of United Arab Emirates (UAE). R esearch on rice cultivation in the desert environment is expected to contribute to resolving food shortages caused by climate change and water scarcity. It was found that the optimal cultivation period of rice was from late November to late April of the following year during which the low temperature occurred at the vegetative growth stage of rice in the UAE. Asemi and FL478 were selected to be candidate cultivars for temperature and day-length conditions in the desert areas as a result of pre-testing genetic resources under reclaimed soil and artificial meteorological conditions. In the desert environment in the UAE, FL478 died before harvest due to the etiolation and poor growth in the early stage of growth. In contrast, Asemi overcame the etiolation in the early stage of growth, which allowed for harvest. The vegetative growth phases of Asemi were from early December to early March of the following year whereas its reproductive growth and ripening phases were from early March to late March and from late March to late April, respectively. The yield of milled rice for Asemi was 763kg/10a in the UAE, which was about 41.8% higher than that in Korea. Such an outcome was likely due to the abundant solar radiation during the reproductive growth and grain filling periods. On the other hand, water consumption during the cultivation period in the UAE was 2,619 ton/10a, which was about three times higher than that in Korea. These results suggest that irrigation technology and development of cultivation methods would be needed to minimize water consumption, which would make it economically viable to grow rice in the UAE. In addition, select on of genetic resources for the UAE desert environments such as minimum etiolation in the early stages of growth would be merited further studies, which would promote stable rice cultivation in the arid conditions.

A Study on the Characteristics and Management Plan of Old Big Trees in the Sacred Natural Sites of Handan City, China (중국 한단시 자연성지 내 노거수의 특성과 관리방안)

  • Xi, Su-Ting;Shin, Hyun-Sil
    • Journal of the Korean Institute of Traditional Landscape Architecture
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    • v.41 no.2
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    • pp.35-45
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    • 2023
  • First, The spatial distribution characteristics of old big trees were analyzed using ArcGIS figures by combining basic information such as species and ages of old big trees in Handan City, which were compiled by the local bureau of landscaping. The types of species, distribution by ages of trees, ownership status, growth status, and diversity status were comprehensively analyzed. Statistically, Styphnolobium, Acacia, Gleditsia, and Albizia of Fabaceae accounted for the majority, of which Sophora japonica accounted for the highest proportion. Sophora japonica is widely and intensively distributed to each prefecture and district in Handan city. According to the age and distribution, the old big trees over 1000 years old were mainly Sophora japonica, Zelkova serrata, Juniperus chinensis, Morus australis Koidz., Dalbergia hupeana Hance, Ceratonia siliqua L., and Pistacia chinensis, and Platycladus orientalis. Second, as found in each type of old big tree status, various types of old big tree status were investigated, the protection management system, protection management process, and protection management benefits were studied, and the protection of old big tree was closely related to the growth environment. Currently, the main driving force behind the protection of old big trees is the worship of old big trees. By depositing its sacredness to the old big tree and sublimating the natural character that nature gave to the old big tree into a guiding consciousness of social activities, nature's "beauty" and personality's "goodness" are well combined. The protection state of the old big tree is closely related to the degree of interaction with the surrounding environment and the participation of various cultures and subjects. In the process of continuously interacting with the surrounding environment during the long-term growth of old big trees, it seems that a natural sanctuary was formed around old big trees in the process of voluntarily establishing a "natural-cultural-scape" system involving bottom-up and top-down cross-regions, multicultural and multi-subjects. Third, China focused on protecting and recovering old big trees, but the protection management system is poor due to a lack of comprehensive consideration of historical and cultural values, plant diversity significance, and social values of old big trees in the management process. Three indicators of space's regional characteristics, property and protection characteristics, and value characteristics can be found in the evaluation of the natural characteristics of old giant trees, which are highly valuable in terms of traditional consciousness management, resource protection practice, faith system construction, and realization of life community values. A systematic management system should be supported as to whether they can be protected and developed for a long time. Fourth, as the perception of protected areas is not yet mature in China, "natural sanctuary" should be treated as an important research content in the process of establishing a nature reserve system. The form of natural sanctuary management, which focuses on bottom-up community participation, is a strong supplement to the current type of top-down nature reserve management in China. Based on this, the protection of old giant trees should be included in the form of a nature reserve called a natural monument in the nature reserve system. In addition, residents of the area around the nature reserve should be one of the main agents of biodiversity conservation.

Research on the Chapter Titled "Gongsa" from the Jeon-gyeong (『전경』 「공사」편 연구)

  • Ko, Nam-sik
    • Journal of the Daesoon Academy of Sciences
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    • v.30
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    • pp.163-199
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    • 2018
  • Jeon-gyeong was published under the command of Dojeon Park Wudang in 1974. The scripture consists of 7 parts and each part has 17 chapters. The earliest record of Gucheon Sangje (1871~1909) can be found in Jeungsan Cheonsa Gongsagi, which was published by Lee Sangho (1888~1967) in 1926. The book was the first oral literature that he created by collecting information and materials on Jeungsan as he personally met with many direct disciples of Gucheon Sangje. In 1929, after three years, Lee complemented the book with additional materials and published the first edition of Daesoon Jeon-gyeong. It was a form of didactic literature stylistically presented as scripture. Lee continued this long journey of work by revising and publishing 6 editions of Daesoon Jeon-gyeong until he published the last one in 1965. The chapter titled, "Cheonji-gongsa (Reordering Works of the Universe)" from Daesoon Jeon-gyeong as the sixth chapter out of a total of 13 chapters in the first edition, but in the last edition, it appears as chapter 4 out of a total of 9 chapters. Here it is shown that the last edition has been shortened when compared to the first edition. Also the number of verses in the chapter has largely increased by almost twice its original size over the 37 years; as it was 81 in the first edition, 94 in the second, 148 in the third, 151 in the fifth, and 175 in the sixth. In this paper, I studied how the verses of "Gongsa (Reordering Works)" from the Jeon-gyeong, which was first published in 1974, have been revised in comparison to the chapter titled "Cheonji-gongsa" from the Daesoon Jeon-gyeong. As the result of comparing each verse of "Gongsa" from the Jeon-gyeong to those of "Cheonji-gongsa" from all six editions of the Daesoon Jeon-gyeong, I could find the following revisions or changes. First, when "Cheonji-gongsa" from the Daesoon Jeon-gyeong is compared to "Gongsa" from the Jeon-gyeong, it can be seen that the number of verses has been changed and some contents have been deleted or added. Second, the sixth edition of the Daesoon Jeon-gyeong has 69 more verses than the Jeon-gyeong, and most of the additions were made in the chapters titled "Haengrok (analects)," "Gyoun (conveyance of teachings)," and "Yesi (forseeing)". These additions show how the verses regarding religious and predictional teachings developed over the years. Third, the verses from "Gongsa" from the Jeon-gyeong contain many descriptions from chapter 2, "Enlightenment of Dao and Miraculous Deeds of Cheonsa (Heavenly Teacher)," chapter 3, "Followers in the Dao School and Precepts," and chapter 5, "Opening of New World and Paradise," from the 6 th edition of the Daesoon Jeon-gyeong. This indicates that "Cheonji-gongsa (Reordering Works of the Universe)" was related to miraculous acts, enlightenment to Dao, teachings given to the followers, the opening of new world, and the building of a paradise. Fourth, some chapters in the section "Cheonji-gongsa" from Daesoon Jeon-gyeong are omitted in "Gongsa" from Jeon-gyeong, and "Gongsa" has some new contents that were not included in previous texts. This shows that there had been adoptions of different materials in the process of transmission.

The Effects of Switching-Frustrated Situation on Negative Psychological Response (전환 좌절상황에서 소비자의 부정적 심리반응에 관한 연구)

  • Jeong, Yun Hee
    • Asia Marketing Journal
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    • v.14 no.1
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    • pp.131-157
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    • 2012
  • Despite the voluminous research on switching barriers, the notion that they can generate negative responses has not been investigated. Further, a critical question is what determines the strength of such negative responses. To address this question, the classic theory of psychological reactance is briefly reviewed, and the idea of switching barrier is advanced. This study attempts to suggest a model on the negative effects of switching- frustrated situation, based on the studies on psychological reactance. According to psychological reactance theory(Brehm 1966), whenever a freedom is threatened or removed, individuals are motivated, at least temporarily, to restore their freedom. For example, if individuals think they are free to engage in behaviors .v, y, or z, then threatening their freedom to engage in x would cause psychological reactance. This reactance could be reduced by an increase in the perceived attractiveness of engaging in, the threatened behavior(Kivetz 2005). This investigation seeks to extend existing switching barrier research in three important ways. First, while the past research has emphasized only positive role of switching barrier, this study address negative role of it by applying psychological reactance theory. Second, to find negative results of switching barrier, I suggest negative psychological response including regret to the past choice, resentment to the present provider, and strong desire to the alternative provider. Third, I suggest the perceived severity of the switching barriers, the attractiveness of the alternative as switching-frustrated situation which can lead to negative results. And, in addition to these relationships, I added moderated effects of perceived justice for better explanation. So this study includes the following hypotheses. H1-1 ~ H1-3: The attractiveness of the alternative has a positive effect regret to the past choice (h1-1), resentment to the present provider (h1-2), and strong desire to the alternative provider (h1-3). H2-1 ~ H2-3 : The perceived severity of the switching barrier has a positive effect regret to the past choice (h2-1), resentment to the present provider (h2-2), and strong desire to the alternative provider (h2-3). H3-1 ~ H3-3 : The positive relationships between the attractiveness of the alternative and consumer' negative responses will be stronger at low level of perceived justice than at high level of perceived justice. H4-1 ~ H4-3 : The positive relationships between the perceived severity of the switching barrier and consumer' negative responses will be stronger at low level of perceived justice than at high level of perceived justice. Survey research is employed to test hypotheses involving perceived severity of the switching barrier(Hess 2008), attractiveness of the alternative(Anderson and Narus 1990; Ohanian 1990),regret(Glovich and Medvec 1995), resentment, strong desire(Alcohol Urge Questionaire: Bohn et al. 1995), perceived justice(Bies and Moag 1986; Clemmer 1993; Lind and Tyler 1998). Previous researches, such as reactance theory, emotion and service failure, have been referenced to measure constructs. All items were measured on a 7-point Likert scale ranging from "strongly disagree" to "strongly agree". We collected data involving various service field, and used 249 respondents to analyze these data using the moderated regression. The results of our analysis suggest, as expected, that the perceived severity of the switching barrier had positive effects on regret to the past choice(b = .197, p< .01), resentment to the present provider(b = .214, p< .01), and strong desire to the alternative provider(b = .254, p< .001). And the attractiveness of the alternative had positive effects on regret to the past choice(b = .353, p<.001), resentment to the present provider(b = .174, p< .01), and strong desire to the alternative provider(b = .265, p< .001). However, our findings indicate perceived justice partly moderates relationship between switching-frustrated situation and psychological negative response. The study has brought to light a number of insights between switching barriers and consumer' negative responses that have been subject to little prior research. In particular, this study adds to the existing understanding of the psychological responses to switching barriers in switching- frustrated situation. This research therefore has significance to marketers for strategic marketing programs, particularly in terms of customer retention and switching barrier strategies. Since consumers could exhibit negative responses to switching barrier, companies would be able to lose their customer when they thoughtlessly use switching barrier for remaining customer. Although the study has these contributions, there are several limitations including unsupported hypotheses and research method. So, we need to make up for these limitations in the future researches.

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