• Management & Information Systems Review
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• v.32 no.4
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• pp.189-207
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• 2013

Using high-frequency data for 2 years, this study investigates intraday lead-lag relationship between stock index and stock index futures markets in Korea and China. We found that there are some differences in price discovery and volatility transmission between Korea and China after the stock index futures markets was introduced. Following Stoll-Whaley(1990) and Chan(1992), the multiple regression is estimated to examine the lead-lag patterns between the two markets by Newey-West's(1987) heteroskedasticity and autocorrelation consistent covariance matrix(HAC matrix). Empirical results of KOSPI 200 shows that the futures market leads the cash market and weak evidence that the cash market leads the futures market. New market information disseminates in the futures market before the stock market with index arbitrageurs then stepping in quickly to bring the cost-of-carry relation back into alignment. The regression tests for the conditional volatility which is estimated using EGARCH model do not show that there is a clear pattern of the futures market leading the stock market in terms of the volatility even though controlling nonsynchronous trading effects. This implies that information in price innovations that originate in the futures market is transmitted to the volatility of the cash market. Empirical results of CSI 300 shows that the cash market is found to play a more dominant role in the price discovery process after the Chinese index started a sharp decline immediately after the stock index futures were introduced. The new stock index futures markets does not function well in its price discovery performance at its infancy stage, apparently due to high barriers to entry into this emerging futures markets. Based on EGAECH model, the results uncover strong bi-directional dependence in the intraday volatility of both markets.

• The Journal of Korean Institute of Communications and Information Sciences
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• v.24 no.10A
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• pp.1563-1570
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• 1999

This paper relates to the soft decision method with erasure technique in digital terrestrial television broadcasting system. The proposed decoder use the CSI derived from using the pilots in receiver. The active real(I) and imaginary(Q) data are transferred to the branch metric calculation block that decides the Euclidean distance for the soft decision decoding and also the estimated CSI values are transferred to the same block. After calculating the Euclidean distance for the soft decision decoding, the Euclidean distance of branch metric is multiplied by CSI. To do so, new branch metric values that consider each carrier state information are obtained. We simulated this method in better performance of about 0.15dB to 0.17dB and 2.2dB to 2.9dB in Rayleigh channel than that of the conventional soft decision Viterbi decoding with or without bit interleaver where the constellation is QPSK, 16-QAM and 64-QAM.

• Journal of Sensor Science and Technology
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• v.16 no.4
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• pp.259-262
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• 2007

This paper describes the electrical characteristics of polycrystalline (poly) 3C-SiC thin film diodes, in which poly 3C-SiC thin films on n-type and p-type Si wafers, respectively, were deposited by APCVD using HMDS, $H_{2}$, and Ar gas at $1150^{\circ}C$ for 3 hr. The schottky diode with Au/poly 3C-SiC/Si (n-type) structure was fabricated. Its threshold voltage ($V_{bi}$), breakdown voltage, thickness of depletion layer, and doping concentration ($N_{D}$) value were measured as 0.84 V, over 140 V, 61 nm, and $2.7{\times}10^{19}cm^{-3}$, respectively. Moreover, for the good ohmic contact, Al/poly 3C-SiC/Si (n-type) structure was annealed at 300, 400, and $500^{\circ}C$, respectively for 30 min under the vacuum condition of $5.0{\times}10^{-6}$ Torr. Finally, the p-n junction diodes fabricated on the poly 3C-Si/Si (p-type) were obtained like characteristics of single 3CSiC p-n junction diode. Therefore, poly 3C-SiC thin film diodes will be suitable for microsensors in conjunction with Si fabrication technology.