• The Korean Journal of Financial Management
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• v.12 no.2
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• pp.239-271
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• 1995

본 연구는 현재 미국에서 거래되고 있는 세 가지 주가지수선물 상호간의 일중(intradaily) 가격선도(price leadership) 관계에 관한 실증분석이다. 본 연구가 기존의 연구와 다른점은, 기존의 연구가 주가지수선물과 그 기준이 되는 현물 가격사이의 가격 선도 관계에 초점을 두고 있는데 반하여 본 연구는 주가지수선물 시장 사이에서 존재하는 가격 선도관계를 분석하고 있다는 점이다. 실증 분석의 대상이 된 주가지수선물들은 Chicago Mercantile Exchange의 Standard and Poor's 500 Index(S&P 500), New York Futures Exchange의 New York Stock Exchange Composit Index (NYSE), 그리고 Chicago Board of Trade의 Major Market Index(MMI)이다. 만약 이들 시장들이 정보의 전달에 있어서 효율적(informationally efficient) 이라면 이들 가격간에 선도-지연(lead-lag) 현상은 존재하지 않을 것이다. 그러나 어느 한 시장이 새로운 정보를 선물가격에 반영하는데 다른 시장에 비해 상대적으로 느리다면, 이들 시장 상호간에는 가격의 전이(transmission)현상이 존재하게 될 것이다. 이들 선물간의 일중 가격선도 관계 연구는 이러한 시장의 효율성 문제를 밝히는데 의의가 있을 뿐만 아니라, 시장간의 단기적 가격 괴리를 이용하려는 차익거래자들에게도 유용하게 쓰일 수 있을 것이다. 본 연구는 위에서 언급한 각각의 주가지수선물들이 가격 선도성을 가질 수 있는 이유와 관련된 다음과 같은 세 가지 가설을 설정하였다. 첫째 가설은, 가격의 선도성은 거래량과 관련이 있다는 것이다. 즉, 이들 주가지수선물 중 가장 거래량이 많은 S&P 500 선물이 다른 선물을 선도할 것이라는 가설이다. 둘째, 가격의 선도성은 주가지수를 구성하는 주식의 수에 비례한다는 가설이다. 다시 말하면, 보다 않은 수로 구성된 주가지수일수록 정보처리 속도가 빠르다는 가설이다. 따라서, 본 연구에 포함된 주가지수선물 중 가장 많은 수의 주식을 대상으로 하는 NYSE 선물이 다른 선물을 선도할 것이다. 마지막 가설은 정보의 처리는 대형주 혹은 기관선호주(institutionally-favored)들이 주도한다는 것이다. 따라서, 주로 이와 같은 주식들로 구성 된 MMI 선물이 선도성을 가질 수 있다는 것이다. 위의 가설들을 검증하고 시장간의 가격 선도관계를 분석하기 위하여 본 연구는 vector autoregressive(VAR) 모형을 이용하여 충격-반응 함수(impulse response functions)를 계산하고, 분산분해(variance decomposition)를 수행하였다. 또한 가격 상호간에 존재할지도 모르는 공적분(cointegration)관계를 Johansen(1991)과 Jokansen and Juselius (1992) 등이 제시한 다변량 공적분 검정(multivariate cointegration test)를 통하여 분석하였다. 분석기간은 1986년 1월부터 1990년 7월까지이며, 각 주가지수선물들의 5분 간격 data를 사용하였다. 연구결과, 충격-반응 분석은 어느 한 시장에서의 충격(shock)은 다른 시장으로 매우 빠르게 전달되고 있음을 보여 주었다. 그러나 충격의 지속정도는 그 충격의 진원지에 따라 달랐다. 즉, NYSE나 MMI 선물로부터 발생 한 충격은 다른 시장의 가격에 5분 안에 반영을 끝냈지 만 S&P 500 선물에서 발생한shock은 그 이상 지속되었다. 또한, 분산분해 결과 S&P 500 선물이 자기자신 뿐만 아니라 다른 시장의 예상하지 못했던 움직임(unexpected movements)을 설명하는데 가장 큰 설명력(explanatory power)을 가지고 있었다. 결론적으로 S&P 500 선물이 다른 선물을 약 5분 간격으로 선도하였다. 이는 가격의 선도가 거래량과 밀접한 관계가 있음을 보여 주는 것이다.

• Journal of the Korean Society of Surveying, Geodesy, Photogrammetry and Cartography
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• v.23 no.4
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• pp.385-392
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• 2005

This paper describes an accuracy analysis of newly developed gravimetric geoid and an improvement of developed geoid using GPS/Levelling data. We developed the KGEOID05 model corrected with the correction term. The correction term is modelled using the difference between GPS/Levelling derived geoidal heights and gravimetric geoidal heights. The stochastic model used in the calculation of correction term is the least squares collocation technique based on second-order Markov covariance function. 373 GPS stations were used to model the correction term. The standard deviation of KGEOID05 is about 11 cm and it indicates that we can be determined accurate heights ($2{\sim}3\;cm$) when we made precise modelling using KGEOID05 and a few GPS measurements for the local area.

• Journal of the Korean Wood Science and Technology
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• v.4 no.1
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• pp.33-37
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• 1976

This experiment was carried out to study the effects affecting to particle board quality by the mixed use of sawdust abandoning as the sawmill residues. The obtained results at this study are summarized as follows: 1) There was no significance in bending strength between 5% sawdust addition and non mixed particleboard. 2) The water absorption was increased as accordance with adding more sawdust. When the boards were mixed with sawdust until 20% the differences were shown among the test boards. 3) There was no differences between the moisture contents and also specific gravities between the comparated boards. There was no difference between the boards mixed with 5% sawdust and non mixed boards.

• Proceedings of the Korean Institute of Electrical and Electronic Material Engineers Conference
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• 2008.06a
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• pp.426-426
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• 2008

ZnO 박막과 Al이 도핑된 ZnO 다결정질 박막을 rf magnetron sputtering 방법을 이용하여 Si(100) 기판과 코닝글라스 기판에 증착하여 박막의 광학적 특성을 Spectro-scopic Ellipsometry (SE, Woollam사)와 UV-VIR-NIR Sphectrophotometry (SP, Varian사)를 사용하여 분석하였다. SE 측정은 입사각도 55도에서 75도까지 5도 간격으로 파장범위 250 - 1700 nm 에서 3 nm 간격으로 측정하였으며, SP 측정은 수직입사로 250-3000 nm 파장범위에서 1 nm 간격으로 투과도와 반사도를 측정하였다. 측정된 데이터들은 Lorentz Oscillator 모델과 Drude free electron 모델이 결합된 분산관계식을 사용하여 전산 맞춤을 하여 분석하였다. ZnO 박막의 optical band gap energy 는 3.3 eV로 측정되었으며, Al 도핑에 따른 자유전하농도가 증가에 의하여 Burstein-Moss 효과에 따르는 optical band gap energy의 증가 거동을 보였다. 또한 자유전하농도 증가에 따라 band edge 부근에서 나타나는 excitonic transition 에 기인하는 유전함수 피크의 broadening이 관찰되었으며, high frequency dielectric constant는 자유 전하농도에 관계없이 3.689${\pm}$0.05 eV 의 값을 가졌다. Drude free electron 모델을 사용하여 plasma frequency를 구하고 이로부터 얻어진 optical mobility 와 Hall mobility를 비교하여 ZnO계 다결정질 박막에서의 결정립계가 이동도에 미치는 영향을 고찰하고자 한다.

• Journal of the Korea Society for Simulation
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• v.19 no.4
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• pp.261-270
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• 2010

An integrated simulation engine provides tools, services, and standards to support various activities in the entire M&S from modeling and simulation to analysis of the simulation results. Many countries have developed integrated simulation engines to efficiently assist complex M&S activities. However, we do not have domestic simulation engines especially designed for defense M&S, therefore, developing M&S softwares still remains as a hard task with high cost and tine. OpenSIM(Open Simulation engine for Interoperable Models) is an integrated simulation engine and provides tools, services and standard interfaces for weapons analysis. OpenSIM's services are comprised of classes, member functions and data attributes which are commonly used in modeling, simulating and analyzing weapons systems. In this paper, we introduce OpenSIM's services in C++ APIs and illustrate them through an ASM example(Air to Surface Missile).

• Journal of Internet Computing and Services
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• v.6 no.2
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• pp.69-84
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• 2005

As the Internet users are increasing rapidly, a cluster web server system is attracted by many researchers and Internet service providers. The cluster web server has been developed to efficiently support a larger number of users as well as to provide high scalable and available system. In order to provide the high performance in the cluster web server, efficient load distribution is important, and recently many content-aware request distribution techniques have been proposed. In this paper, we propose a new content-aware load balancing technique that can evenly distribute the workload to each node in the cluster web server. The proposed technique is based on the hash histogram transformation, in which each URL entry of the web log file is hashed, and the access frequency and file size are accumulated as a histogram. Each user request is assigned into a node by mapping of (hashed value-server node) in the histogram transformation. In the proposed technique, the histogram is updated periodically and then the even distribution of user requests can be maintained continuously. In addition to the load balancing, our technique can exploit the cache effect to improve the performance. The simulation results show that the performance of our technique is quite better than that of the traditional round-robin method and we can improve the performance more than $10\%$ compared with the existing workload-aware load balancing(WARD) method.

• Journal of Climate Change Research
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• v.5 no.1
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• pp.71-81
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• 2014

Using the Eddy Covariance technique, we analyzed seasonal variation in net ecosystem $CO_2$ exchange (NEE) and investigated the effects of environmental factors and aboveground biomass of rice on the $CO_2$ fluxes in a rice-barley double cropping paddy field of Gimje, Korea. Quality control and gap-filling were conducted before this investigation of the effects. The results have been showed that NEE, gross primary production (GPP), and ecosystem respiration (Re) during the rice growing period were -215.6, 763.9, and $548.3g\;C\;m^{-2}$, respectively. Relation between NEE and net radiation (Rn) could be described by a quadratic equation, and about 65 % of variation in NEE was explained by changes in Rn. On the other hand, an exponential function relating Re to soil temperature accounted for approximately 43 % of variation in Re under the flooded condition of paddy field. Aboveground biomass showed significant linear relationships with NEE ($r^2=0.93$), GPP ($r^2=0.96$), and Re ($r^2=0.95$), respectively.

• Journal of the Korean earth science society
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• v.31 no.4
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• pp.301-312
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• 2010

Geochemical data have been regarded as one of the important environmental variables in the environmental management. Since they are often sampled at sparse locations, it is important not only to predict attribute values at unsampled locations, but also to assess the uncertainty attached to the prediction for further analysis. The main objective of this paper is to exemplify how indicator geostatistics can be effectively applied to geochemical data processing for providing decision-supporting information as well as spatial distribution of the geochemical data. A whole geostatistical analysis framework, which includes probabilistic uncertainty modeling, classification and risk analysis, was illustrated through a case study of cadmium mapping. A conditional cumulative distribution function (ccdf) was first modeled by indicator kriging, and then e-type estimates and conditional variance were computed for spatial distribution of cadmium and quantitative uncertainty measures, respectively. Two different classification criteria such as a probability thresholding and an attribute thresholding were applied to delineate contaminated and safe areas. Finally, additional sampling locations were extracted from the coefficient of variation that accounts for both the conditional variance and the difference between attribute values and thresholding values. It is suggested that the indicator geostatistical framework illustrated in this study be a useful tool for analyzing any environmental variables including geochemical data for decision-making in the presence of uncertainty.

• KDI Journal of Economic Policy
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• v.27 no.1
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• pp.1-38
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• 2005

Our paper aims to estimate a household consumption function in the presence of liquidity constraints as well as household characteristics. Empirical findings from a Korean cross-sectional data (National Survey of Household Income and Expenditure) reveal that several family characteristics, such as household size, number of working members, children in school, and educational level and age of the household head, turn out to be critical determinants of household consumption. Especially, the influence of household size on consumption decision is shown to be highly significant, not only indirectly through its impact on household income, but also directly by affecting the household's preference for consumption itself. While, the other family characteristics primarily influences household income. Our paper distinguishes itself from existing literature in that it greatly improves the explanatory power of the estimated household consumption function by measuring the degree of the liquidity constraint rather than simply identifying its presence. Based on the assumption that the present value of human capital is a function of household characteristics, the degree of the liquidity constraint is represented by the underestimated portion of the human capital. Such a method of implementing the liquidity constraint is useful in treating various types of assets according to their liquidity. Finally, our estimated household consumption function is applied to decompose cross-sectional variances of consumption inequality. The analysis confirms that the overall alleviation in liquidity constraints in Korea after the 1997 currency crisis reduced consumption inequality despite the worsening of income inequality and changes in the demographic composition of family characteristics during the same period.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.32 no.6B
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• pp.373-378
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• 2012

In this study, a new empirical equation for the transverse dispersion coefficient has been developed based on the theoretical background in river bends. The nonlinear least-square method was applied to determine regression coefficients of the equation. The estimated dispersion coefficients derived by the new equation were compared with observed transverse dispersion coefficients acquired from natural rivers and coefficients calculated by the other existing empirical equations. From a comparison of the existing transverse dispersion equations and the new proposed equation, it appears that the behavior of the existing formula in a relative sense is very much dependent on the friction factor and the river geometry. However, the new proposed equation does not vary widely according to variation of friction factor. Also, it was revealed that the equation proposed in this study becomes an asymptotic curve as the curvature effect increases.