• Korean Business Review
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• v.13
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• pp.133-157
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• 2000

This paper investigate to construct a new strategic trading model which contains the broker and overconfident informed trader. Assuming more favorable situation for the broker, this paper construct a two period model. At period I overconfident informed trader and liquidity traders participate to trade. At this time the broker does not execute transaction of his own account. he only transfer customer's order by commission. At period 2, the broker identifies informed trade of previous period and he execute the trade of his own account with liquidity traders. The effects of overconfidence to the expected transaction volume and expected transaction profit, and price variability are summarized as follows: (i) As the degree of overconfidence increases, the expected transaction volume of informed trader increases. Under the restriction of moderate degree of overconfidence, it also increases the expected transaction volume of broker. In sum, overconfidence behavior of informed trader increases the expected transaction volume. (ii) As the degree of overconfidence increases, the both expected profit of informed trader and broker decrease. (iii) As the degree of overconfidence increases, unconditional variances of price for each periods increase. And as the degree of overconfidence increases, the informativeness of prices for each period increase. Finally, some limitations of this paper and direction for further research were suggested.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.14 no.5
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• pp.79-92
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• 2019

When asked about the success factors of successful entrepreneurs and celebrities, he says he was lucky. The remarkable fact is that the attitude about luck is different. However, despite the fact that the belief that we believe is lucky is actually a dominant concept, there has not been much scientific verification of luck. In this study, we saw good luck not being determined randomly by the external environment, but by being able to control luck through the internal attributes of individuals. This study is significant that we have empirically elucidated what kind of efforts have gained good luck, whereas previous research has largely ended in vague logic where luck ends up with an internal locus of control among internal entrepreneurial qualities and efforts can make a successful entrepreneur. We introduced the concept of good luck belief to avoid confirmation bias, which is, to interpret my experience in a direction that matches what I want to believe, and used a good luck belief questionnaire in previous studies and tried to verify that those who have a good belief can increase entrepreneurial opportunity capability through planned happenstance skills. The reason for choosing the entrepreneurial opportunity capacity as a dependent variable was based on the conventional research, that is, the process of recognizing and exploiting the entrepreneurial opportunity is an important part of the entrepreneurship research For empirical research, we conducted a questionnaire survey of a total of 332 people, and the results of the analysis turned out that the belief of good luck has all the positive impacts of planned happenstance skills' sub-factors: curiosity, patience, flexibility, optimism and risk tolerance. Second, we have shown that only the perseverance, optimism, and risk tolerance of planned happenstance skills' sub-factors have a positive impact on this opportunity capability. Thirdly, it was possible to judge that the sub-factors of planned happenstance skills, patience, optimism, and risk tolerance, had a meditating effect between belief in luck and entrepreneurial opportunity capability. This study is highly significant in logically elucidating that people in charge of business incubation and education can get the specific direction when planning a training program for successful entrepreneur to further enhance the entrepreneurial opportunity ability, which is an important ability for the entrepreneur's success.

• Korean Journal of Heritage: History & Science
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• v.45 no.1
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• pp.190-217
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• 2012

This research has studied the building awareness of Nu-Jeong that a view of nature and aesthetic consciousness to unite the nature are inherent by considering Nu-Jeong of scholars who left fame and wealth behind and retired to hermitage in the backwoods in the 16~18 Century. This is to clarify correlation with leaving nature as it is, namely, an ideal state that scholars at the time would enjoy, through landscape awareness accepted into Nu-Jeong literature. In addition, this research has tracked the ideologic flow that acts on space formation by clarifying Korean unique meanings inherent to Nu-Jeong's cultural landscape. As a suggestion for this, the interpretation through 'Pungsu location Nu-Jeong name's analysis Nu-Jeong literature analysis', etc. was tried, so its integrated conclusion is as follows. It is not a chance that scholars of Joseon have left numerous literature works singing the nature. They already had huge interest and knowledge on the nature, and achieved active poetic exchange by sublimating the praise of nature as literature. Nu-Jeong, which was a place of exchange like this, had cleanliness of the nature and ideological purity as an oppositional space on turbid political realities. The Nu-Jeong literature drew the nature into a literature space as it is, without doing abstraction or ideation on the nature. The owner of Nu-Jeong exclusively possessed such natural landscape in grim and independent postures, so it provided a clue of Nu-Jeong cultural landscape that this research aimed to discuss. Scholars who aimed to raise wide and large vigor filled in between the sky and earth got to convince that people are born from the nature, grow in the nature and finally return to the nature. What people are born from the nature and finally return to the nature is just consistent with Taoistic and Zhua-ngzi thoughts denying human work, and leaving nature as it is or nature itself remained intact which is an ideal state. The construction at the time is a vessel containing the spirit of the times of the era. This thesis has proved that the Nu-Jeong culture of scholars located on the central line of Korean landscape was the flower of Joseon's scholar culture by interpreting it semantically.

• Korean Journal of Heritage: History & Science
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• v.54 no.2
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• pp.120-135
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• 2021

Changdeokgung Rear Garden is an important place to show the essence of the garden culture of the Joseon Dynasty. In the garden landscape experience, the restoration of the road completes the system of connecting the main spaces. Therefore, the restoration of the road requires accurate understanding of its creation, extinction, and maintenance. The purpose of this study was to detail the changes in the path that occurred in the Changdeokgung Palace Rear Garden from the late Joseon Dynasty to the modern and contemporary period by analyzing literature and drawing materials. For a time-series analysis, "Donggwoldo" and "Donggwoldohyeong" produced in the Joseon Dynasty, along with "Changdeokgung Plan Drawing" produced in modern and contemporary times, and aerial photographs were used. Drawings and photographs of different coordinate systems were transformed into one coordinate system in the geographic information system ArcGIS to compare changes in the movements of different periods. The results of the study are as follows. First, a total of 37 sections have been used since Japanese colonial era, of which 13 have been maintained, 14 have disappeared, and 10 have been newly established. Among the extinction sections, the road north of Neungheojeong Pavilion is considered to be an urgent place to connect the space to the garden and restore it to enjoy the scenery. In the new section, it seems necessary to establish a new alternative road or shorten the section for the connecting section between Daebodan and Okryucheon. Second, it was revealed that the biggest and most frequent changes to the road system in the garden were Japanese colonial era and renovations in the 1970s. It is worth noting the changes in the road since the 1970s, rather than Japanese colonial era, where it was difficult to manage the gardens independently. The access road to Okryucheon remained in its original shape until the 1990s, but it was renovated to its current shape due to misperception of the original shape. A project is needed to find out the cause of the change in this period and restore the damaged original shape. The biggest achievement of this study is that it revealed the changes in the garden path of Changdeokgung Palace in modern and contemporary times. The biggest achievement of this study is that it revealed the changes in the road of Changdeokgung Palace Rear Gardens in modern and contemporary times. However, there is a limitation that it has not been able to clearly present the location and shape that should be restored because it has not found data on landscaping plans or maintenance. In order to restore the road using the data revealed in this study, it seems necessary to consider realistic problems such as current space utilization, viewing system, disaster prevention and maintenance.