• Journal of Christian Education in Korea
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• v.77
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• pp.47-62
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• 2024

Purpose of the study : The purpose of this study was to analyze research on Christian infant parents in terms of research period, research content, and research method, and seek directions for research projects related to Christian infant parents. Research content and methods : For this study, domestic master's and doctoral dissertation published from 1995 to 2023 by the national assembly library and the research information sharing service (RISS) were collected under the categories 'Christianity', 'infant', 'infancy', and 'parent'. A total of 40 studies were extracted by searching with these keywords and excluding redundant studies. In addition, the frequency and percentage were calculated by classifying and analyzing the results into three criteria: research period, research content, and research method. Conclusions and Recommendations : Research on Christian infant parents increased significantly between 2016 and 2020, with 10 studies (25%) conducted during this period, indicating a more active engagement in this area compared to other times. Master's theses accounted for 39 studies (97.5%), while doctoral dissertation comprised 1 study (2.5%), suggesting a predominance of research at the master's level. Regarding the content of the research on Christian infant parents, practice studies accounted for 34 studies (85%), while basic research accounted for 6 studies (15%). Field-related studies such as the development of parental education programs and materials for infants continued to be carried out steadily, but there was a lack of theoretical, philosophical, perceptual, and factual investigation research on Christian infant parents. Methodologically, literature reviews were prevalent, with 27 studies (67.5%), followed by quantitative studies with 10 studies (25%), and qualitative studies with 3 studies (7.5%). Various types of research, including quantitative, qualitative, and literature reviews, were conducted between 2016 and 2020. Based on the research findings, in-depth qualitative studies conducted through observation and interviews, as well as mixed-method studies complementing single studies, should be conducted for a long-term perspective on research involving Christian infant and child parents.

• Proceedings of the Safety Management and Science Conference
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• 2004.11a
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• pp.355-380
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• 2004

I test the hypothesis that the gradual diffusion of information across asset markets leads to cross-asset return predictability in Korea. Using thirty-six industry portfolios and the broad market index as our test assets, I establish several key results. First, a number of industries such as semiconductor, electronics, metal, and petroleum lead the stock market by up to one month. In contrast, the market, which is widely followed, only leads a few industries. Importantly, an industry's ability to lead the market is correlated with its propensity to forecast various indicators of economic activity such as industrial production growth. Consistent with our hypothesis, these findings indicate that the market reacts with a delay to information in industry returns about its fundamentals because information diffuses only gradually across asset markets. Traditional theories of asset pricing assume that investors have unlimited information-processing capacity. However, this assumption does not hold for many traders, even the most sophisticated ones. Many economists recognize that investors are better characterized as being only boundedly rational(see Shiller(2000), Sims(2201)). Even from casual observation, few traders can pay attention to all sources of information much less understand their impact on the prices of assets that they trade. Indeed, a large literature in psychology documents the extent to which even attention is a precious cognitive resource(see, eg., Kahneman(1973), Nisbett and Ross(1980), Fiske and Taylor(1991)). A number of papers have explored the implications of limited information- processing capacity for asset prices. I will review this literature in Section II. For instance, Merton(1987) develops a static model of multiple stocks in which investors only have information about a limited number of stocks and only trade those that they have information about. Related models of limited market participation include brennan(1975) and Allen and Gale(1994). As a result, stocks that are less recognized by investors have a smaller investor base(neglected stocks) and trade at a greater discount because of limited risk sharing. More recently, Hong and Stein(1999) develop a dynamic model of a single asset in which information gradually diffuses across the investment public and investors are unable to perform the rational expectations trick of extracting information from prices. Hong and Stein(1999). My hypothesis is that the gradual diffusion of information across asset markets leads to cross-asset return predictability. This hypothesis relies on two key assumptions. The first is that valuable information that originates in one asset reaches investors in other markets only with a lag, i.e. news travels slowly across markets. The second assumption is that because of limited information-processing capacity, many (though not necessarily all) investors may not pay attention or be able to extract the information from the asset prices of markets that they do not participate in. These two assumptions taken together leads to cross-asset return predictability. My hypothesis would appear to be a very plausible one for a few reasons. To begin with, as pointed out by Merton(1987) and the subsequent literature on segmented markets and limited market participation, few investors trade all assets. Put another way, limited participation is a pervasive feature of financial markets. Indeed, even among equity money managers, there is specialization along industries such as sector or market timing funds. Some reasons for this limited market participation include tax, regulatory or liquidity constraints. More plausibly, investors have to specialize because they have their hands full trying to understand the markets that they do participate in