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Empirical Analysis on Exchange Rate Determination in Global Foreign Exchange Markets : The Case of 10 Major Countries (글로벌 외환시장의 환율 결정구조 분석에 관한 실증연구 : 주요 10개국을 중심으로)

  • Rhee, Hyun-Jae
    • International Area Studies Review
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    • v.14 no.3
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    • pp.221-246
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    • 2010
  • The paper is basically attempted to reveal a mechanism of exchange rate determination in global foreign exchange markets. For a theoretical framework, uncovered interest rate parity(UIRP), covered interest rate parity(CIRP), and real interest rate parity(RIRP) are tentatively adapted, and GARCH-M model is employed for an econometric methodology. Empirical evidence shows that the UIRP is superior to others, and the RIRP is better than the CIRP in explaining how exchange rates are determined in global exchange markets. All of them, however, is not fully supported by economic theories. Following Frankel(1989), country premium, volatility premium, and currency premium are evaluated to see if which premium is a crucial in disturbing the RIRP, and it is found that country and currency premiums are a major components in disturbing the RIRP. To this end, market-oriented and market-determined systems has to be built to avoid currency disputes which is undergoing hot issue in global foreign exchange market.

The Impacts of Research and Development Expenditures on Values of U.S. High-Tech Firms (미국 High-Tech 기업의 연구개발 지출이 기업가치에 미치는 영향)

  • Jeon, Ho-Jin;Park, Young-Tae
    • International Area Studies Review
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    • v.12 no.2
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    • pp.149-173
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    • 2008
  • This paper empirically studies the relationship between R&D expenditures and firms value. First, we can conjecture that R&D expenditures are enhancing the firms value. Such findings depend on an existing research, which R&D expenditures are intangible asset rather than expenses. Although, under U.S. accounting standards, financial statements do not report intangible assets but costs. Second, we can conjecture that short-term, the rate of increase in R&D expenditures had negative influence on firms valuation, because such findings indicates that R&D spending of costs incur mis-pricing. But long-term, consistently R&D expenditures may attract investors on the stock market. Third, lately firms focus on capital efficiency management, such a firms R&D expenditures incur high ROE. Generally investors put too much confidence in capital efficiency management and high ROE may attract investors on the stock market. Finally, High-Tech through the R&D investment improve firms competitive advantage, by competitive advantage, firms have reduced cost and raised productivity in the end improve firms value.

A Study on Vulnerability Factors of The Smart Home Service ('스마트홈 서비스'의 보안취약요인에 관한 연구)

  • Jeon, Jeong Hoon
    • Convergence Security Journal
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    • v.20 no.4
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    • pp.169-176
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    • 2020
  • Recently, the era in which various services using smart devices are used is sometimes referred to as the so-called "smart era". Among these, Smart Home Service' have not only brought about significant changes in the residential environment and culture, but are evolving very rapidly. and The 'Smart Home Service' provides more convenient services to users through communication between various electronic products in general homes, and has a bright future in the future. In particular,'Smart Home Service' provides various services combined based on IoT(Internet of Things) technology and wired/wireless communication in connection between various devices. However, such a "smart home service" inherits the security vulnerabilities of the underlying technologies such as the Internet of Things and wired and wireless communication technologies, and accidents that lead to the leakage of personal information and invasion of privacy continue to occur. So, it is necessary to prepare a countermeasure and prevention against the weak factors of the underlying technologies. Therefore, this paper is expected to be used as basic data for future application technology development and countermeasure technology by examining various security vulnerability factors of 'Smart Home Service'.

Study on Factors Affecting Perceived Value and Intention to Use the Metaverse: Focusing on Differences between Metaverse Experienced and Non-Experienced (메타버스의 지각된 가치와 사용의도에 영향을 미치는 요인에 관한 연구: 메타버스 유경험자와 무경험자의 차이를 중심으로)

  • Mina Lee;Minjung Kim
    • The Journal of the Convergence on Culture Technology
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    • v.9 no.1
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    • pp.587-594
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    • 2023
  • The purpose of this study is to examine the factors influencing the intention to use the Metaverse from various angles based on the Extended Technology Acceptance Model and Value-based Adoption Model. Specifically, we examined whether there is a difference in perception of the Metaverse and in factors affecting the intention to use the Metaverse between the Metaverse experienced and non-experienced. For this purpose, the variables were classified into the technical characteristics of the Metaverse (interactivity, content quality), perceived benefits (perceived usefulness, perceived enjoyment), and perceived sacrifices (perceived risk, perceived complexity) and a survey was conducted with university students. The findings of this study indicate that the perceived interactivity, usefulness, and enjoyment of the Metaverse had a major impact on the intention to use the Metaverse for those without Metaverse experience, whereas enjoyment of the Metaverse had the greatest impact on the intention to use the Metaverse for those with Metaverse experience. Based on the study results, we provided marketing strategy implications for continuous growth and development of the Metaverse industry.

A Study on the Determinants Affecting Global Tramper Companies' Bunkering Port Selection Using AHP Method (AHP를 활용한 부정기선사의 벙커링 항만 선정요인에 대한 연구)

  • Ahn, Ji Young;Ryu, Hee Chan;Lee, Choong-bae
    • Journal of Korea Port Economic Association
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    • v.38 no.3
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    • pp.15-28
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    • 2022
  • Bunkering refers to the supply of bunker fuel necessary for the ship operation, as well as minimizing the price and supply cost of fuel itself, and includes supplying good quality fuel oil in a timely manner and at the optimal port. Bunkering is an important criterion in terms of cost for shipping companies because bunkering involves a significant cost to the purchaser of bunkering from the time of initial purchase. This study aims to prioritize selection criteria for tramper companies to call port for bunkering. For this study, the variables were selected by analyzing the common criteria such as price, location, bunker quality and service and infrastructure etc. employed in previous studies. The AHP method was employed to prioritize the criteria in order. As a result of the analysis, the high level factors appeared in the order of price, location, bunkering quality and port service and infrastructure factors. The importance of price criterion and location criterion was found to be high. In the low level criterion of price, the bunker price per MT was ranked first in importance. In terms of location criteria, the location on the main trade route was high. In the low criteria of bunker quality and port service, the bunkering available types and bunker quality were found to be important factors, and in the low level criteria of infrastructure, anchorage and availability of bunkering during loading and discharging and port security factors were found to be important criteria. This study provides the guidelines for research designed to compare the bunkering port selection factors and to derive their importance suggesting the ways to enhance competitiveness as a bunkering port.

A Study on Development Evaluation Modeling Internal Landscape in Tunnel Considering Human Sensitivity Engineering (감성공학을 고려한 터널 내부경관 평가 모형개발에 관한 연구)

  • Wang, Yi-Wau;Kum, Ki-Jung;Son, Seung-Neo;Yu, Jai-Sang
    • International Journal of Highway Engineering
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    • v.12 no.1
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    • pp.9-20
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    • 2010
  • This study was intended to identify, among various characteristics of tunnel, the relationship between the design factors comprising the driver's psychological stability, easiness and the sensitivity and then to suggest the mechanism for evaluating the tunnel view, and to that end, the study attempted to evaluate the relations between the physical elements comprising the tunnel shape and the variation of driver's emotional recognition, thereby proposing the measures to create the scenic environment. As a result of LISREL modeling to identify the characteristics of emotional recognition to tunnel view, the elements affecting tunnel view appeared to be emotional image created by the combination of elements comprising the tunnel view. Such emotional image can be explained by design elements and individual characteristics, and the effect of design element appeared to be greater than individual characteristics. The relations between individual characteristics and design element appeared to be positive (+) and the relations between the "safety" and "variability" was significant. And the "safety" have had greater effect on view recognition than "variability", indicating that the drivers tend to give more importance to "safety", but also require the "variability"on the other hand.

LMDI Decomposition Analysis for GHG Emissions of Korea's Manufacturing Industry (LMDI 방법론을 이용한 국내 제조업의 온실가스 배출 요인분해분석)

  • Kim, Suyi;Jung, Kyung-Hwa
    • Environmental and Resource Economics Review
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    • v.20 no.2
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    • pp.229-254
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    • 2011
  • In this paper, we decomposed Greenhouse-Gas emissions of Korea's manufacturing industry using LMDI (Log Mean Divisia Index) method. Changes in $CO_2$ emissions from 1991 to 2007 studied in 5 different factors, industrial production (production effect), industry production mix (structure effect), sectoral energy intensity (intensity effect), sectoral energy mix (energy-mix effect), and $CO_2$ emission factors (emission-factor effect). By results, the structure effect and intensity effect has a role of reducing GHG emissions and The role of structure effect was bigger than intensity effect. The energy mix effect increased GHG emissions and emission-factor effect decreased GHG emissions. By time series analysis, IMF regime affected the GHG emission pattern. the structure effect and intensity effect in that regime was getting worse. After 2000, in the high oil price period, the structure effect and intensity effect is getting better.

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Characteristics of Employment and Factors Affecting the Employment of Individuals with Brain Disorder (뇌병변장애인 고용특성 및 취업 영향요인)

  • Park, Ju-Young
    • The Journal of the Korea Contents Association
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    • v.19 no.5
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    • pp.542-552
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    • 2019
  • This study aimed to analyze characteristics of employment and factors affecting of employment of person with Brain disorder. Participants were 317 individuals with brain disorders. Data were analyzed using Chi-square test, regression analyses. according to the Panel Survey of Employment for the Disabled in Korea. These factors were classified into disability and health factors, employment related factors, and household related factors. First, The employment group showed significantly severe disorder, higher health status, absent of daily life helper, absent of assistive devices, higher level education, licenses, public employment service, job arrangement of acquaintance, find a job oneself, married, absent of basic living security assistance, greater supports of family compared to the unemployed group. Second, Factors affecting employment of individuals with brain disorders included daily life helper, education level, job arrangement of acquaintance, married, basic living security assistance. Base on these results, developing dailylife and education system and social supported system and modifying the benefit system can promote employment acquisition of individuals with brain disorder.

Effect of Evodiae fructus Methanol Extract on Virulence-Related Genes' Expression of Helicobacter pylori (오수유 메탄올 추출물이 Helicobacter pylori 병원성 관련 유전자 발현에 미치는 영향)

  • Yang, Ji Yeong;Lee, Pyeongjae;Kim, Jong-Bae
    • Korean Journal of Clinical Laboratory Science
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    • v.51 no.3
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    • pp.316-322
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    • 2019
  • Helicobacter pylori, a gram-negative bacterium, is one of the risk factors that induces gastritis and gastric cancer. Therefore, much attention has been paid to the compounds that inhibit bacterial growth or eradicate bacteria. Evodiae fructus (EF), the fruit of Evodia rutaecarpa, has been used for treating diarrhea and abdominal pain. EF extract was already found to inhibit the growth of H. pylori. However, to the best of our knowledge, the effect of EF on the virulence factors of H. pylori has not been reported. In this study, when comparing the minimum inhibitory concentration (MIC) of the different methanol concentration extracts, the 95% methanol extract (EF95) showed the lowest MIC value. EF95 extract suppressed the expressions of cagA, vacA and ureB, but interestingly, it up-regulated the expression of ureA. A decrease in production of ammonia in the culture medium and the cell lysates indicated that EF95 inhibited the urease activity in H. pylori, which was the result of EF95 inhibiting the ureB expression. Although the mechanism by which EF95 extract regulates the virulence factors in H. pylori needs further study, EF95 could be used for treatment of gastric troubles induced by H. pylori.

High Efficient Mass-trapping Technique using a Mixture of Methyl Isonicotinate and Aggregation Pheromone to Control the Thrips Infesting Hot Peppers in Open Field Conditions (노지 고추재배지에 발생하는 총채벌레를 대상으로 methyl isonicotinate와 집합페로몬 혼합물을 이용한 고효율 대량유살 기술)

  • Yonggyun Kim;Gahyun Jin;Hyunje Park;Chulyoung Kim
    • Korean journal of applied entomology
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    • v.62 no.4
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    • pp.245-253
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    • 2023
  • A control technique using mass-trapping was developed against thrips infesting hot peppers cultivating in greenhouses. It was essential to develop effective lure(s) attracting thrips for the control technique. Especially, mass-trapping using aggregation pheromone (AP) of the thrips was not much effective in open field cultivating hot peppers. This study aimed to develop a new lure to enhance the attractiveness of AP-based mass-trapping. In addition, this study was designed to investigate the decrease of attractiveness of the AP-based mass-trapping in the open field conditions. Methyl isonicotinate (MIN) as a new lure was assessed by the laboratory olfactometry and showed its attractiveness to thrips and its mixture effect with AP to attract the thrips. These results led us to test the AP+MIN mixture in the open field conditions cultivating hot peppers. The mixture significantly enhanced the mass-trapping efficacy in the open field conditions. Especially, the significant increase of the captured numbers was found in the western flower thrips, Frankliniella occidentalis. Furthermore, the increase of the AP concentration in the mass-trapping significantly increased the captured numbers in F. occidentalis and other thrips occurring in the hot pepper field. This study demonstrated the difference in the AP-based mass-trapping efficacy of the thrips between greenhouse and open field conditions. It also showed the increase of mass-trapping efficacy by increasing AP concentration in the trap. Especially, this study proposes a high efficient mass-trapping technology by the addition of MIN to AP especially against F. occidentalis.