• Journal of Intelligence and Information Systems
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• v.26 no.1
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• pp.119-133
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• 2020

Fama asserted that in an efficient market, we can't make a trading rule that consistently outperforms the average stock market returns. This study aims to suggest a machine learning algorithm to improve the trading performance of an intraday short volatility strategy applying asymmetric volatility spillover effect, and analyze its trading performance improvement. Generally stock market volatility has a negative relation with stock market return and the Korean stock market volatility is influenced by the US stock market volatility. This volatility spillover effect is asymmetric. The asymmetric volatility spillover effect refers to the phenomenon that the US stock market volatility up and down differently influence the next day's volatility of the Korean stock market. We collected the S&P 500 index, VIX, KOSPI 200 index, and V-KOSPI 200 from 2008 to 2018. We found the negative relation between the S&P 500 and VIX, and the KOSPI 200 and V-KOSPI 200. We also documented the strong volatility spillover effect from the VIX to the V-KOSPI 200. Interestingly, the asymmetric volatility spillover was also found. Whereas the VIX up is fully reflected in the opening volatility of the V-KOSPI 200, the VIX down influences partially in the opening volatility and its influence lasts to the Korean market close. If the stock market is efficient, there is no reason why there exists the asymmetric volatility spillover effect. It is a counter example of the efficient market hypothesis. To utilize this type of anomalous volatility spillover pattern, we analyzed the intraday volatility selling strategy. This strategy sells short the Korean volatility market in the morning after the US stock market volatility closes down and takes no position in the volatility market after the VIX closes up. It produced profit every year between 2008 and 2018 and the percent profitable is 68%. The trading performance showed the higher average annual return of 129% relative to the benchmark average annual return of 33%. The maximum draw down, MDD, is -41%, which is lower than that of benchmark -101%. The Sharpe ratio 0.32 of SVS strategy is much greater than the Sharpe ratio 0.08 of the Benchmark strategy. The Sharpe ratio simultaneously considers return and risk and is calculated as return divided by risk. Therefore, high Sharpe ratio means high performance when comparing different strategies with different risk and return structure. Real world trading gives rise to the trading costs including brokerage cost and slippage cost. When the trading cost is considered, the performance difference between 76% and -10% average annual returns becomes clear. To improve the performance of the suggested volatility trading strategy, we used the well-known SVM algorithm. Input variables include the VIX close to close return at day t-1, the VIX open to close return at day t-1, the VK open return at day t, and output is the up and down classification of the VK open to close return at day t. The training period is from 2008 to 2014 and the testing period is from 2015 to 2018. The kernel functions are linear function, radial basis function, and polynomial function. We suggested the modified-short volatility strategy that sells the VK in the morning when the SVM output is Down and takes no position when the SVM output is Up. The trading performance was remarkably improved. The 5-year testing period trading results of the m-SVS strategy showed very high profit and low risk relative to the benchmark SVS strategy. The annual return of the m-SVS strategy is 123% and it is higher than that of SVS strategy. The risk factor, MDD, was also significantly improved from -41% to -29%.

• The Korean Journal of Food And Nutrition
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• v.30 no.3
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• pp.539-551
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• 2017

This study investigated the current status and needs for nutrition education to help reduce children's sugars intake at the Center for Children's Foodservice Management (CCFM, n=115), and Child Care Facilities (CCF, n=646) through an online survey conducted from October $5^{th}$ to $30^{th}$ 2015. A total of 14.8% of CCFM respondents and 31.9% of CCF respondents provided nutrition education on sugars intake to young children as a main topic (p<0.001). A higher percentage (CCFM 47.8%: CCF 42.4%) delivered nutrition education on sugars intake to young children as a sub-component (p<0.001). Over 90% of the CCFM and CCF participants agreed on the necessity of providing nutrition education on sugars intake to children. The most common reasons given for delivering nutrition education on children's sugar intake were "there are many more urgent nutrition education topics" for CCFM, and "insufficient nutrition education information and materials" for CCF. The percentage of nutrition education on children's sugar intake provided to the children's parents was low showing about 20% in the both groups. The percentage of CCFM participants providing nutrition, education on children's sugar intake to the teachers in CCF was also low, showing about 14.8%; however, 68.0% of the CCF participants wanted to received teacher's education on guiding children's sugar intake. Regarding ideas about a nutrition education program on children's sugar intake for young children, most respondents in both groups answered "sugar intake and dental cavities or obesity" for appropriate education contents, "story telling or puppet show" for appropriate education methods, and "dietitian from CCFM and class teacher together" for appropriate educator. For appropriate education time, there was a significantl difference between the CCFM responses (average 2.7 times) and the CCF responses (average 4 times). Based on the above results, we found that implementing nutrition education on children's sugar intake at the CCFM and CCF, was low; however, awareness of the need for nutrition education on children's sugar intake and the program development and supply was very high. Also, the opinions of CCFM and CCF participants about a nutrition education program on children's sugar intake for young children can provide foundation data to develop and implement the CCFM-based nutrition education program.

• Journal of Nutrition and Health
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• v.44 no.5
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• pp.428-442
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• 2011

This study investigated the actual status of constipation. In total, 978 female students in Korea participated. We identified the relationship among constipation and life style, clothing patterns, housing patterns, dietary habits, and dietary intake in a constipation symptom group and a normal group. The actual constipation rate based on the Rome II criteria was 27.0% (n = 264). Body weight (p < 0.05) and body mass index (p < 0.05) in the constipation group were significantly higher than those in the normal group. The incidence of functional bowel disease and irritable bowel syndrome in the constipation group were significantly higher than those in the normal group. The discomfort of wearing underwear was significantly higher in the constipation group than that in the normal group. The constipation group revealed a significantly higher rate of irregular dietary habits than those in the normal group. The dietary diversity score of the normal group was 4.22 (p < 0.05), which was significantly higher than that of constipation group (4.12). No significant difference in life style factors was observed. It is necessary for university female students to correct their dietary habits, maintain food intake of three times per day, and select diverse foods. Furthermore, it is necessary for university female students to wear comfortable clothing to lessen symptoms and improve constipation rates.

• KDI Journal of Economic Policy
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• v.31 no.1
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• pp.71-103
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• 2009

Considering the expenditure size of public institutions centering on public enterprises, about 28% of Korea's GDP in 2007, public institutions have significant influence on the Korean economy. However, still in the new government, there are voices of criticism about the need of constant reform on public enterprises due to their irresponsible management impeding national competitiveness. Especially, political controversy over appointment of executives such as CEOs of public enterprises has caused the distrust of the people. As one of various reform measures for public enterprises, this study analyzes the effect of internal governance structure of public enterprises on their managerial performance, since, regardless of privatization of public enterprises, improving the governance structure of public enterprises is a matter of great importance. There are only a few prior researches focusing on the governance structure and managerial performance of public enterprises compared to those of private enterprises. Most of prior researches studied the relationship between parachuting employment of CEO and managerial performance, and concluded that parachuting produces negative effect on managerial performance. However, different from the results of such researches, recent studies suggest that there is no relationship between employment type of CEOs and managerial performance in public enterprises. This study is distinguished from prior researches in view of following. First, prior researches focused on the relationship between employment type of public enterprises' CEOs and managerial performance. However, in addition to this, this study analyzes the relationship of internal auditors and managerial performance. Second, unlike prior researches studying the relationship between employment type of public corporations' CEOs and managerial performance with an emphasis on parachuting employment, this study researches impact of employment type as well as expertise of CEOs and internal auditors on managerial performance. Third, prior researchers mainly used non-financial indicators from various samples. However, this study eliminated subjectivity of researchers by analyzing public enterprises designated by the government and their financial statements, which were externally audited and inspected. In this study, regression analysis is applied in analyzing the relationship of independence and expertise of public enterprises' CEOs and internal auditors and managerial performance in the same year. Financial information from 2003 to 2007 of 24 public enterprises, which are designated by the government, and their personnel information from the board of directors are used as samples. Independence of CEOs is identified by dividing CEOs into persons from the same public enterprise and persons from other organization, and independence of internal auditors is determined by classifying them into two groups, people from academic field, economic world, and civic groups, and people from political community, government ministries, and military. Also, expertise of CEOs and internal auditors is divided into business expertise and financial expertise. As control variables, this study applied foundation year, asset size, government subsidies as a proportion to corporate earnings, and dummy variables by year. Analysis showed that there is significantly positive relationship between independence and financial expertise of internal auditors and managerial performance. In addition, although business expertise and financial expertise of CEOs were not statistically significant, they have positive relationship with managerial performance. However, unlike a general idea, independence of CEOs is not statistically significant, but it is negatively related to managerial performance. Contrary to general concerns, it seems that the impact of independence of public enterprises' CEOs on managerial performance has slightly decreased. Instead, it explains that expertise of public enterprises' CEOs and internal auditors plays more important role in managerial performance rather than their independence. Meanwhile, there are limitations in this study as follows. First, in contrast to private enterprises, public enterprises simultaneously pursue publicness and entrepreneurship. However, this study focuses on entrepreneurship, excluding considerations on publicness of public enterprises. Second, public enterprises in this study are limited to those in the central government. Accordingly, it should be carefully considered when the result of this study is applied to public enterprises in local governments. Finally, this study excludes factors related to transparency and democracy issues which are raised in appointment process of executives of public enterprises, as it may cause the issue of subjectivity of researchers.

• Journal of the Korean Society of Food Science and Nutrition
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• v.36 no.8
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• pp.995-1009
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• 2007

The purpose of this study was to investigate the dietary habits, behaviors, and food consumption frequency according to gender and obesity level among middle school students in the Jeonju area. Subjects for the questionnaire were 450 middle school students (male 255, female 195) and were classified as either obese students (n=150 or non-obese students (n=299) by the obesity assessment method. The results were analyzed with SAS program (Version 9.1), and were as follows. 1. Dietary behaviors were significantly different in the rate of 'Skipping breakfast (p<0.05)', 'Duration of meal time (min) (p<0.05)' and 'Unbalanced diet (p<0.01)' between males and females. Dietary habits and behaviors also differed significantly for the rate of ‘Taste preferences (p<0.05)’, and 'Unbalanced diet (p<0.01)' between obese students and non-obese students. 2. Food consumption frequency per week was as follows. First, males were significantly higher than females in 'Instant noodle (p<0.05)', 'Milk (p<0.01)', and 'Soda pop (p<0.01)'; on the other hand females were significantly higher than males in 'Chocolate, Candy (p<0.01)'. Second, non-obese students were significantly higher than obese students in 'Instant noodle (p<0.05)', 'Hamburger, Pizza (p<0.05)', and 'Chocolate, Candy (p<001)'. Especially, non-obese male students were higher in 'Instant noodle (p<0.05)' and 'Hamburger, Pizza (p<0.05)'; non-obese female students were higher in 'Chocolate, Candy (p<0.01)'. In conclusion, an action program is needed to encourage healthful dietary behaviors, increased physical activity, and forming good lifelong habits.

• Tuberculosis and Respiratory Diseases
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• v.44 no.2
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• pp.232-240
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• 1997

Background : Postprimary pulmonary tuberculosis is located mainly in upper lobes. The tuberculous lesion involving the lower lobes usually arises from the upper lobe cavity through endobronchial spread. When tuberculosis is confined to the lower lung field, it often masquerades as pneumonia, lung cancer, bronchiectasis, or lung abscess. Thus the correct diagnosis may be sometimes delayed for a long time. Methods : We carried out, retrospectively, a clinical study on 50 patients confirmed with lower lung field tuberculosis who visited the Department of Pulmonary Medicine at Hanyang University Hospital from January 1992 to December 1994. The following results were obtained. Results : Lower lung field tuberculosis without concomitant upper lobe disease occurred in fifty patients representing 6.9% of the total admission with active pulmonary tuberculosis over a period of 3 years. It occurred most frequently in the third decade but age distribution was relatively even. The mean age was 43 years old. Female was more frequently affected than male (male to female ratio 1 : 1.9). The most common symptom was cough(68%), followed by sputum(52%), fever(38%), and chest discomfort(30%). On chest X-ray of the 50patients, consolidation was the most common finding in 52%, followed by solitary nodule(22%) collapse(16%), cavitary lesion(10%), in decreasing order. The disease confined to the right side in 25 cases, left side 20 cases, and both sides 5 cases. Endobronchial tuberculosis (1) Endobronchial involvement was proved by bronchoscopic examination in 20 of 50patients. (2) Mean age was 44years old and female was more affected than man (male to female ratio 1 : 3). Sputum AFB stain and Mycobacterium tuberculosis culture were positive only in 50% of cases unlikely upper lobe tuberculosis, additional diagnostic methods were needed. In our study, bronchoscopic examination and percutaneous fine needle aspiration biopsy increased diagnostic yield by 18% and 32%, respectively. The most common associated condition was diabetes mellitus(18%) and others were anemia, anorexia nervosa, stomach cancer, and systemic steroid usage. Conclusion : When we find a lower lung field lesion, we should suspect tuberculosis if the patient has diabetes mellitus, anemia, systemic steroid usage, malignancy or other immune suppressed states. Because diagnostic yield of sputum AFB smear & Mycobacterium tuberculosis culture was low, additional diagnostic methods such as bronchoscopy and fine needle aspiration biopsy were needed.

• Journal of Korean Home Economics Education Association
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• v.18 no.3 s.41
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• pp.1-22
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• 2006

The purpose of this study is that I should look for a desirous directions about home economics by studying the requirements and perception of the high school parents who have finished the course of home economics. It was about 600 parents whom I have searched Seoul-Pusan, Ganwon. Ghynggi province, Choongcheong-Gyungsang province, Cheonla and Jeju province of 600, I chose only 560 as apparently suitable research. The questions include 61 requirements about home economics and one which we never fail to keep among the contents, whenever possible and one about the perception of home economics aims 11 about the perception of home economics courses and management. The collections were analyzed frequency, percent, mean. standard deviation t-test by using SAS program. The followings is the summary result of studying of it. 1. All the boys and girls learning together about the Idea of healthy lives and desirous human formulation and knowledge together are higher. 2. Among the teaching purposes of home economics, the item of the scientific principle and knowledge for improvements of home life shows 15.7% below average value. 3. The recognition degree about the quality of home economics is highly related with the real life, and about the system. we recognize lacking in periods and contents of home economics field and about guiding content, accomplishment and application qualities are higher regardless of sex. 4. The important term which we should emphasize in the subject of home economics is family part. 5. Among the needs of home economic requirement in freshman, in the middle unit, their growth and development are higher than anything else, representing 4.11, and by contrast the basic principle and actuality is 3.70, which is lowest among them. 6. In the case of second grade requirement of home economics content for parents in the middle unit young man and consuming life is 4.09 highest. 7. In the case of 3rd grade requirement of economics contents in the middle unit the choice of coming direction and job ethics is highest 4.16, and preparing meals and evaluation is lowest 3.50.

• 대한공업교육학회지
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• v.40 no.2
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• pp.155-174
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• 2015

The purposes of this study were to analyze the property of educational needs of teachers for educational contents of invention and intellectual property in secondary vocational education and provide fundamental data for the development of job training programs so as to develop the capabilities of teachers, the base for effective education of invention intellectual property in secondary vocational education. To achieve them, educational needs for the educational contents of invention intellectual property and the priority of the educational needs in secondary vocational education based on the recognition of the teachers were analyzed and suggested. Concrete results of this study can be suggested as follows. First, the average of educational needs of the teachers for the educational contents of invention intellectual property in secondary vocational education was 5.02. There were 23 items of the educational contents whose educational needs were higher than the average of the whole items and for those items and the average of each item, there were F4(The average of patent applications) 6.72, F5(Modification and supplementation of specification sheets) 6.46, F2(Writing of patent floor plans) 6.39, F3(Writing of patent specification sheets and abstraction) 6.31, A5(Invention method and activity) 6.27, E6(Invention design project) 6.15, H3(Invention commercialization) 5.97, F1(Patent information and application) 5.90, E5(Design obligation) 5.78, E3(Designing process of inventional design) 5.77, A4(Invention and problem solving) 5.57, G2(Patent investigation and classification) 5.47, C2(Thinking method of inventional problem solution) 5.45, E4(Production of inventional design product) 5.45, B5(Inventional patent project) 5.42, A2(Creativity development) 5.26, C4(Inventional problem solving project) 5.26, H4(Invention marketing) 5.26, H2(Analysis on invention commercialization) 5.20, D4(Invention and management) 5.16, C3(Problem solving activity) 5.14, E2(Inventional design devise and expression) 5.11, B3(Actuality of inventional method) 5.08 in order. Second, for the priority of educational needs of the teachers for the educational contents of invention intellectual property in secondary vocational education, there were 13 items of the educational contents for the first rank, 10 for the second rank and 17 for the third rank. The items of the educational contents for the first rank were A4(invention and problem solving), A5(inventional method and activity), B5(Invention patent project), C2(Thinking method of inventional problem solution), C4(Inventional problem solving project), E3(Inventional design process), E4(Production of inventional design product), E5(Design obligation), E6(Invention design project), F1(Patent information and application), F2(Writing of patent floor plan), F3(Writing of patent specification sheet and abstract), and H3(Invention commercialization. The items of the educational contents for the second rank were A2(Creativity development), B3(Actuality of inventional method), C3(Problem solving activity), D4(Invention and management), E2(Invention design devise and expression), F4(Range of patent demand), F5(Modification and supplementation of specification sheet), G2(Patent investigation and classification), H2(Analysis on invention commercialization), and H4(Invention marketing). The items for the third rank were the educational contents except the ones of the first rank and the second rank.

• Journal of Preventive Medicine and Public Health
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• v.29 no.4 s.55
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• pp.785-799
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• 1996

We investigated the 1,004 workers who worked in a automobile factory to study the epidemiologic characterists of dermatoses due to cutting oils. Among the workers, 667(66.4%) answered the questionaire. They are belong to 5 departments of the factory-the Engine-Work(258 workers), Gasoline engine Assembly(210), Diesel engine Assembly(96), Power train Work(86), Power train Assembly(17). We measured the oil mist concentration in air of the departments and examined the workers who had dermatologic symptoms. The results were follows; 1) Oil mist concentration ; Of all measured points(52),9 points(17.2%) exeeded $5mg/m^3$- the time-weighed PEL-and one department had a upper confidence limit(95%) higher than $5mg/m^3$. 2) Dermatologists examined 213 workers. 172 of them complained any skin symptoms at that time - itching(32.5%), papule(21.6%), scale(15.7%), vesicle(12.5%) in order. The abnormal skin site found by dermatologist were palm(29.3%), finger & nail(24.6%), forearm(16.2%), back of hand(8.4%) in order. 3) As the result of physical examination, we found that 160 workers had skin diseases. Contact dermatitis was the most common; 69 workers had contact dermatitis alone(43.1%), 11 had contact dermatitis with acne(6.9%), 10 had contact dermatitis with folliculitis(6.3%), 1 had contact dermatitis with acne & folliculitis, and 1 had contact dermatitis with abnormal pigmentation. Others were folliculitis(9 workers, 5.6%), acne(8, 5.0%), folliculitis & acne (2, 1.2%), keratosis(1, 0.6%), abnormal pigmentation (1, 0.6%), and non-specific hand eczema (47, 29.3%). 4) The prevalence of any skin diseases was 34.0 pet 100 in cutting oil users, and 13.3 per 100 in non- users. Especially, the prevalence of contact dermatitis was 23.0 per 100 in cutting oil users and 23.0 per 100 in non-users. 5) We tried patch test(standard serise, oil serise, organic solvents) on 49 patients to differentiate allergic contact dermatitis from irritant contact dermatitis and found 20 were positive. 6) In a multivariate analysis(independant=age, tenure, kinds of cutting oil), the risk of skin diseases was higher in the water-based cutting oil user and both oil user than non-user or neat oil user(odds ratio were 2.16 and 2.78, respectively). And the risk of contact dermatitis was much higher at the same groups(odds ratio were 5.16 and 6.82, respectively).

• Journal of Nutrition and Health
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• v.47 no.3
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• pp.214-220
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• 2014

Purpose: The purpose of this study was to assess hygiene status of meals for poorly-fed children through microbiological quality. Methods: Meals were provided by two social enterprises, one franchise, and one convenience store. There were a total of six meal samples; two samples (social enterprise meal 1; SEM 1, social enterprise meal 2; SEM 2) from two social enterprises, respectively, two samples (franchise meal 1; FM 1, franchise meal 2; FM 2) from one franchise, and two samples (convenience store meal 1; CSM 1, convenience store meal 2; CSM 2) from one convenience store. Microbiological analysis and assessment were performed by Korean food standards codex (KFSC). Results: General bacteria and E. coli in SEM 1 were detected, but the levels were not over KFSC, and Coliform less than $9.2{\times}10$ CFU/g was also detected in seasoned bean sprouts of SEM 1. General bacteria was detected at $1.6{\times}10^6$ CFU/g in cabbage kimchi of SEM 2. Coliform was detected in cabbage kimchi, squid cutlet, stir-fried pork, and fried chicken of FM1 and 2, but the levels were not over KFSC. In addition, S. aureus was detected in cabbage kimchi and seasoned dried white radish of FM 1 and 2 ($9.8{\times}10^2$ CFU/g, $9.4{\times}10^3$ CFU/g respectively), thus was over KFSC. B. cereus was detected in stir-fried pork and fried chicken ($1.2{\times}10^3$ CFU/g, $1.5{\times}10^3$ CFU/g respectively) of FM 1 and 2, thus was over KFSC. Finally, S. aureus was detected in stir-fried dried squid, seasoned spicy chicken, and stir-fried kimchi of CSM 1 and 2, and was over KFSC too ($9.5{\times}10^4$ CFU/g, $2.4{\times}10^2$ CFU/g, $1.3{\times}10^3$ CFU/g respectively). Conclusion: Results of this study suggest that systemic management of hygiene is necessary to safely providing meals to poorly-fed children.