• The Korean Journal of Financial Management
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• v.20 no.1
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• pp.191-212
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• 2003

Recently, there is a growing body of literature that suggests that information inefficiency is one of the causes of the asymmetric volatility. If this explanation for the asymmetric volatility is appropriate, then innovations, such as the introduction of futures, may be expected to impact the asymmetric volatility of stock market. As transaction costs and margin requirements in the futures market are lower than those in the spot market, new information is transmitted to futures prices more quickly and affects spot prices through arbitrage trading with spots. Also, the merit of the futures market may attract noise traders away from the spot market to the futures market. This study examines the impact of futures on the asymmetry of stock market volatility. If the asymmetric volatility is significant lower post-futures and exist in the futures market, it has validity that the asymmetric volatility is caused by information inefficiency in the spot market. The data examined are daily logarithmic returns on KOSPI 200 stock price index from January 4, 1993 to December 26, 2000. To examine the existence of the asymmetric volatility in the futures market, logarithmic returns on KOSPI 200 futures are used from May 4, 1996 to December 26, 2000. We used a conditional mode of TGARCH(threshold GARCH) of Glosten, Jagannathan and Runkel(1993). Pre-futures the spot market exhibits significant asymmetric responses of volatility to news and post-futures asymmetries are significantly lower, irrespective of bear market and bull market. The results suggest that the introduction of stock index futures has an effect on the asymmetric volatility of the spot market and are inconsistent with leverage being the sole explanation of asymmetry. However, it is found that the volatility of futures is not so asymmetric as expected.

• Journal of the Economic Geographical Society of Korea
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• v.4 no.2
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• pp.1-22
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• 2001

The object of this research is to explain types and factors of locations and regional linkages of manufacturing firms in rural areas using Eumsung County as a case of rural areas. Eumsung County is now vigorously industrializing owing to the government policy dispersing factories in the Capital region. The results of the survey conducted on industrial firms in Eumsung County through questionnaires reveal that individual sites are dominantly preferred by factory owners in comparison to the designated industrial complexes because the former is cheaper in land price. The main factors of industrial location in Eumsung County are cheap land cost, convenient highway accessibility, and the dispersion policy of the Capital region. In terms of the regional linkage, the proportion of the linkage with other regions is larger than that within the local region in case of purchasing raw materials, but the linkage with other regions is lower than that within the local regions in case of selling products. Also most white collar employees in Eumsung County were revealed to reside in and around the Capital region. In order to develop and maintain industrial firms in rural areas so as to avoid "dependency development," efforts for improving of the linkages between the local firms and expanding of social overhead capital are necessary.necessary.

• The Korean Journal of Applied Statistics
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• v.29 no.1
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• pp.13-25
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• 2016

High-speed railway (Korea Train Express) has had a deep impact on the regional economy of Korea. Current high-speed rail research is mostly theoretical, there is a lack of quantitative research using a precise algorithm to study the effect of high-speed railway on the regional economy. This paper analyses the influence of high-speed rail on the regional economy, with a focus on the Daegu area. Quantitative analysis using department store indexes and regional medical records is performed to calculate the economic influence of high-speed rail. The result shows that high-speed railway effects the regional economy though regional consumption growth and medical care trends.

• Journal of the korean Society of Automotive Engineers
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• v.18 no.5
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• pp.53-68
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• 1996

마그네슘이 자동차 경량화에 관심이 되는 이유는 근본적으로 CAFE 규제와 같이 경량화를 통한 화석연료의 소모를 크게 억제해야 한다는 사회적인 규제이나, 지난 10여년간의 기술발전으로 내식성이 나쁘다거나 취급이 위험한 금속이라는 인식이 크게 개선된 데에도 있다. 다른 경량금속에 대한 Mg 지금 가격의 비교조건이 호전되었고 향후 원소 재공급의 다변화가 추진되고 있는 것도 환경을 변화시킨 중요한 요인이다. 그간 중요한 경량화 대체 재료로 연구투자가 많았던 유기고분자 재료 및 FRP 등과 같은 복합재료는 폐기부품의 재활용이 어려움 때문에 호나경친화적인 단점이 부각되어, 이 소재의 증가가 주춤해 있다. 마그네슘의 경우에는 재활용이 가능하고, 진동흡수효과가 매우 커서 소음발생을 크게 줄일 뿐만 아니라, 주행 및 내구성시험에서 치수안정성이 좋고 많은 종류의 전자기기 사용에 의한 전자파 차폐효과도 큰 장점을 가지고 있다. 본 고에서는 Mg 다이캐스팅으로 자동차부품의 경량화 현황과 선진국에서 보는 전망을 미국을 중심으로 정리하고, 이와 관련한 Mg 다이캐스팅으로 자동차부품의 경량화 현황과 선진국에서 보는 전망을 미국을 중심으로 정리하고, 이와 관련한 Mg 기술적인 이슈와 시장전망도 서술하였다. 그리고 현재 우리나라의 연구계와 부품업계에서 추진하고 있는 연구개발 동향을 자동차 업계에 소개하는 의미도 있다. 이처럼 우리나라의 현황을 정리해 보는 것은 국내 자동차 산업이 국제적인 경쟁을 하고 있고 Mg기술과 원료확보에서 일본의 견제를 받고 있는 우리의 현실에서도 필요한 작업으로 생각된다.값들로 구성되는 형상을 내구 성능, 성형성등을 고려하여 최종 형상으로 결정한다. 내구성능의 예측은 금속부품의 내구수명 예측에 널리 이용되고 있는 방법이 방진 고무부품의 경우에도 적용 가능한지를 검토하고, 방진 고무부품에도 일반적으로 적용될수 있는 내구수명 예측방안의 개발 가능성을 타진해 보았다. 본 연구의 목표는 시제품을 제작하기 이전에 설계된 부품에 대한 스프링 상수 및 내구특성을 체계적으로 규명하여 제품 시험의 횟수를 줄이고, 보다 정밀한 제품을 제작할 수 있도록 하기 위한 것이다.세포수는 초기 배반포기배에서 팽윤 배반포기배로 진행됨에 따라 두배에서 세배 정도 증가되었음을 알 수 있었다. 또한, differential labelling과 bisbenzimide기법에서 얻어진 각각의 총세포수를 비교하였을 때 총세포수는 발달의 진행 정도에 따라 증가되며 그와 동시에 동일한 군 간의 세포수도 거의 유사함을 알 수 있었다. 따라서, ICM과 TE를 differential labelling하는 기법은 수정란의 quality를 평가하는데 매우 유용한 기법으로서 착상전 embryo 발달을 연구하는데 효과적으로 이용될 수 있다는 것을 시사한다. 고도의 유의차를 나타낸 반면 비수구, 초생수로구 및 Bromegrass 목초구 간에는 아무런 유의차가 인정되지 않았다. 7. 농지보전 처리구인 배수구와 초생수로구는 비처리구에 비해 낮은 침두 유출량과 낮은 토양유실량을 나타내었다.구보다 14% 절감되는 것으로 나타났다.작용하는 것으로 사료된다.된다.정량 분석한 결과이다. 시편의 조성은 33.6 at%

• Journal of the Korea Academia-Industrial cooperation Society
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• v.17 no.4
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• pp.480-488
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• 2016

As the subprime mortgage crisis spread globally, it depressed not only the financial market, but also the construction business in Korea. In fact, according to CERIK, the BSI of the construction businesses plunged from 80 points in December 2006 to 14.6 points in November 2008, and the extent of the depression in the housing sector was particularly serious. In this respect, this paper analyzes the influence of the financial market fluctuation on the housing market before and after the Global Financial Crisis using VECM. The periods from January 2000 to December 2007 and January 2008 to October 2015, before and after the financial crisis, were set as Models 1 and 2, respectively. The results are as follows. First, when the economy is good, the Gangnam housing market is an attractive one for investment. However, when it is depressed, the Gangnam housing market changes in response to the macroeconomic fluctuations. Second, the Gangbuk and Gangnam housing markets showed different responses to fluctuations in the financial market. Third, when the economy is bad, the effect of low interest rates is limited, due to the housing market risk.

• Korean Journal of Construction Engineering and Management
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• v.13 no.1
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• pp.140-147
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• 2012

Climate changes caused by fossil fuel energy usages have led to serious environmental damages and resource scarcity. Ever-increasing demand for energy causes harsh competition in international energy markets. Nuclear power, which once was regarded as a desirable clean energy, began to face public oppositions after the Japanese nuclear disaster in 2011. In this context, wind power is now considered to be an ever-more important recyclable energy source. Thus, this study intended to identify critical success factors for wind power construction projects. After a thorough literature review, two focus group interview sessions were conducted. A questionnaire-based survey, coupled with the two previous methods, resulted in the extraction of important factors for the success of wind power projects. Experts, including those working as constructors, designers, and owners, were paid a direct visit for the interview and survey. The critical success factors were categorized into feasibility study, right policies, equipment selection, and project financing issues. The proposed critical success factors are expected to be an effective guideline for future investors in wind powers.

• Korea journal of population studies
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• v.34 no.3
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• pp.1-30
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• 2011

Recently increasing young adults have experienced serious economic difficulties in their transition to adulthood and so a great deal of parents have to help their children financially even well after children finish their schools. Utilizing the 2008 Social Survey, a nationwide representative survey collected by the Statistics Korea, this paper examines how children, mothers, and fathers think about parental support to adult children. Respondents of the 2008 Social Survey answer how much parents support economically to their children about the following four items: college education, graduation school education, spending money while searching for jobs, and marital preparation. Analyzing a sample of 1,727 high school students and their parents, I find that the three family members generally accept economic support to the above items as part of parental duties. Also comparisons of the three family members' attitudes indicate that they usually reach the consensus about the dutiful scope of parental support to adult children. Logistic regressions reveal that male teens and children with conservatism are more likely to believe in wider scope of parental economic duties. And parents who are on good terms with children and are high in educational and occupational levels are more willing to support adult children. I conclude with implications of the findings for intergenerational relationships.

• Land and Housing Review
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• v.3 no.1
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• pp.59-68
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• 2012

The current land development cost price system is classified as the creating land by construction price and composition changes that occur sporadically in the process of completion at the source of the factors by incurred cost price. Housing for land cost price system is a lack of objectivity which scheme of the such a gap due to the land in accordance construction and incurred cost price system so far. Therefore, in order to increase the objectivity of costing the costing of predictable surprises should be reflected in the process. Under such a background, this study defined the effective differential ratio as the predictable, estimated them for various characteristics of each business district to reflect. For this, set the properties category of five types to attributes and making the complex category and Look-up table. Which result of model validation is showed a high reliability. Therefore, Continuous accumulation of material in the future, when them to reflect the construction cost, will contribute to the bridge the gap the construction cost between incurred them.

• The Journal of the Convergence on Culture Technology
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• v.2 no.2
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• pp.45-49
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• 2016

It may be summarized to four kinds of innovation through global convergence, and the convergence of adjacent areas according to mega-trends in medical services market and actively introduced ICT technologies, public and private partnership. Health care is no longer a local industry, it is becoming Global Convergence. In the case of developed countries, it is increased to income levels, the development of new medical technologies, while the increase in specialized medical services and need of aging population. It increases migration of foreign medical personnel, geographical proximity and choice of the best medical technology, regardless of the cost. The increasing demand for high quality yet relatively low foreign prices of medical services. Hospitals are especially spread of international certification such as the US JCI standards. Hospital exports are being evaluated and opened the way for the export industrialization as ICT convergence hospital that can be exported to the fusion-related technologies more efficiently. Current local hospital has already reached saturation, globalization of Korean hospital is being the time necessary. Thus, unlike a strategy for each country, as well as technology transfer it is also possible, such as total exports provided the building, medical equipment procurement, local medical personnel (doctors and nurses) selection and training, PR and marketing. In the current medical law and need to be revised prospectively maintained for publicity and abroad, there is a need for further legal dragons and actively support a more flexible policy on the application of national law overseas medical services.

• Journal of the Korea Concrete Institute
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• v.15 no.3
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• pp.392-399
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• 2003

This paper discusses the validities of insulating curing of cold weather concreting at early stage by applying insulation forms. Tests were carried out using modified insulating form combining existing insulating form and various other insulations in order to develop improved insulation form. Temperature history of concrete using various insulating forms and insulation was measured to determine most effective combination of insulting form. According to results, as for the wall form, under the curing temperature of $-10^{\circ}C$, the temperature of concrete using Euro form drops sharply before 24 hours and lasts below $0^{\circ}C$ for 7 hours. The temperature of concrete using the form combining Polypropylene panel, styrofoam and plywood panel keep above $0^{\circ}C$. And, it is confirmed that the form mentioned above has a favorable effects on enhancing strength development of concrete and the cost to make the forms shows more reasonable than that of existing forms. However, as for the combination methods of insulation form for slab, which is composed of insulating form at the bottom of slab and various surface curing materials at the top of slab, in case of exposed condition at the top of slab, temperature history of concrete goes below $0^{\circ}C$ after 10 hours. In case of the combination of vinyl sheet and curing blanket, it drops below $0^{\circ}C$ after 42 hours. However, in case of the combination of vinyl, styrofoam and curing blanket, it does not go below $0^{\circ}C$ until 55 hours. Accordingly, compared to the case of exposure and the combination of vinyl and curing blanket, it indicates that the combination mentioned above has more effective insulating performance.