• Journal of Life Science
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• v.18 no.2
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• pp.284-286
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• 2008

Octopus minor (O. minor) is widely distributed along the coastal regions of Korea, but most of them are caught in southern waters which are associated with one of the important fisheries stock. At present, O. minor from China has been introduced to the fishery markets in Korea. Here, we attempt to discriminate their origin for Korea or China using molecular techniques. Based on the O. minor mitochondrial DNA sequence, we developed a PCR-based origin discrimination system. The assay specificity was assessed by testing four individuals of O. minor from Sangdong, China, as well as 20 additional O. minor from Namhae, Muan, Yeosu and Jindo, Korea. Only four isolates of O. minor originated from China tested as positive in our distinction system. All PCR-positive products yielded identical sequences from Chinese O. minor, whereas Korean O. minor appeared to be PCR amplification. This result suggested that the primers used in this study are O. minor species specific, especially originated from China. The detection system appeared to be positive results in the use of 0.1 ng of Chinese O. minor DNA as template, however, the Korean O. minor even using $1{\mu}g$ of DNA showed no amplification. Consequently, the assay provides a simple, rapid and accurate method for the detection of Chinese O. minor.

• Communications for Statistical Applications and Methods
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• v.27 no.1
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• pp.79-95
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• 2020

The globalization of financial markets has broadened investment opportunities. International investors' investment portfolios consist of financial instruments from various countries; consequently, the risks associated with economic dependence among countries should be carefully considered. Step-down equity-linked securities (ELS) are a structured financial product that have recently become popular among Korean investors. Payoffs are based on two or three stock indices from different regions; therefore, dependence between the indices should be reflected in the risk analysis. In this study, we consider a regime-switching copula model to describe the joint behavior of two stock indices- the Eurostoxx50 and the Hang Seng China Enterprises Index (HSCEI). These indices are commonly used as underlying assets of step-down ELS. Using historical data, we analyze the risk associated with step-down ELS through the probabilities of early redemption. A regime-switching copula model can accommodate complicated dependence. Thus, it should be considered in the risk analysis of step-down ELS.

• Korean Journal of Agricultural Science
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• v.27 no.2
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• pp.182-189
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• 2000

The issue of food security will become one of the most widely concerned area of public policy in North East Asia coming 21st century. Although those countries such as China, Japan, South and North Koreas and Mongolia places emphasis on the need to have stable and reliable capacity for food production, it will be highly possible for these regions to experience the shortage of food supply due to growing population, expanding urbanization and rapid industrialization within next decade. Since world food markets are characterized as unstable structure and dominated by large multinational firms, their reliances on importing staple food may create the aggravation of food shortage problem in emergency situations. One possible proposal for solving food security in north-east region might be movements toward multilateral food supply assurance agreements as a component of trade negotiations among these countries. As measures for cooperation for securing food supply in these regions, following principles would be suggested; 1) encouraging agricultural cooperation based on private business, 2) exchange of technical and human resources rather than material support, 3) developing mutual concern and benefits, 4) managing joint buffer stock for staple food.

• The Journal of the Korea Contents Association
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• v.21 no.2
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• pp.548-561
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• 2021

Manufacturing is a pillar industry for national economic growth. Analyzing the internal problems of manufacturing enterprises can solve the difficulties faced by manufacturing enterprises and improve the overall performance of manufacturing enterprises.This study selected 1,546 listed manufacturing companies in Shenzhen and Shanghai stock markets from 2009 to 2015, and empirically analyzed the relationship between fixed assets and corporate performance by using the fixed effect model and the two-way fixed effect model.The study finds 1) the scale of fixed assets has a negative effect on corporate performance. 2) the quality of fixed assets has a weak positive relationship with fixed assets. 3) the growth rate of fixed assets impacts corporate performance positively.

• Management & Information Systems Review
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• v.33 no.1
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• pp.139-155
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• 2014

This study is to examine the linkage of volatility between changes in the stock market of India and other countries through the integration of the world economy. The results were as follows: First, autocorrelation or serial correlation did not exist in the classic RS model, but long-term memory was present in the modified RS model. Second, unit root did not exist in the unit root test for all periods, and the series were a stable explanatory power and a long-term memory with the normal conditions in the ARFIMA model. Third, in the multivariate asymmetric BEKK and VAR model before the financial crisis, it showed that there was a strong influence of the own market of Taiwan and UK in the conditional mean equation, and a strong spillover effect from Japan to India, from Taiwan to China(Korea, US), from US(Japan) to UK in one direction. In the conditional variance equation, GARCH showed a strong spillover effect that indicated the same direction as the result of ARCH coefficient of the market itself. Asymmetric effects in three home markets and between markets existed. Fourth, after the financial crisis, in the conditional mean equation, only the domestic market in Taiwan showed strong influences, and strong spillover effects existed from India to US, from Taiwan to Japan, from Korea to Germany in one direction. In the conditional variance equation, strong spillover effects were the same as the result of the pre-crisis and asymmetric effect in the domestic market in UK was present, and one-way asymmetric effect existed in Germany from Taiwan. Therefore, the results of this study presented the linkage between the volatilities of the stock market of India and other countries through the integration of the world economy, observing and confirming the asymmetric reactions and return(volatility) spillover effects between the stock market of India and other countries.

• The Journal of the Korea Contents Association
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• v.12 no.4
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• pp.401-406
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• 2012

Shanghai Stock Exchange is the largest stock exchange of emerging markets that there were listed firms 905, listed securities 1,537, listed stocks 949, total number of listed stocks 2 trillion 2000 billion shares. There is more development that is expected to occur in the future. The purpose of this study is to find determinants of capital structure to listed manufacturing firms in Shanghai Stock Exchange using multiple regression. Conclusions of this study are summarized as follows. First, firm size is positively related to debt ratio significantly at 1% significance level.. Second, the profitability is negatively related to debt ratio significantly at 1% significance level. Third, the growth ability is positively related to debt ratio significantly at 1% significance level. fourth, cash flow, the largest shares ownership, negotiable shares ratio are negatively related to debt ratio but they are not significant statistically. The result of this study provides information for investors and can be utilized to improvement of financial structure.

• International Area Studies Review
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• v.14 no.3
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• pp.62-84
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• 2010

Accurate forecasting of volatility is of considerable interest in financial volatility research, particularly in regard to portfolio allocation, option pricing and risk management because volatility is equal to market risk. So, we attempted to delineate a model with good ability to forecast and identified stylized features of volatility, with a focus on volatility persistence or long memory in the Australian futures market. In this context, we assessed the long-memory property in the volatility of index futures contracts using three conditional volatility models, namely the GARCH, IGARCH and FIGARCH models. We found that the FIGARCH model better captures the long-memory property than do the GARCH and IGARCH models. Additionally, we found that the FIGARCH model provides superior performance in one-day-ahead volatility forecasts. As discussed in this paper, the FIGARCH model should prove a useful technique in forecasting the long-memory volatility in the Australian index futures market.

• Management & Information Systems Review
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• v.36 no.4
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• pp.117-127
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• 2017

In recent times the size of the world IPO in general has skyrocketed. Specifically, China's financial market development is becoming important as both the size of China's capital market and the number of companies going public are gradually increasing. This has led to a rapid development of venture vapital(VC) institutions in China for the past couple of decades. This study focuses on one of the three markets of China's Shenzhen Stock Exchange-the Growth Enterprise Board((GEB) hereafter, ChiNext). The ChiNext is established in October, 2009 to enable hi-tech or high growth potential technology companies that find it relatively difficult to fulfil the listing requirements of either the Shenzhen Main Board or Small and Medium Size Enterprise Board(SMEB) to go public. This study covers a three-year period(2012/01/-2015/01) and analyze first day initial return of 83 venture capital-backed companies and 53 non-venture capital-backed companies using T-test. Regression analysis is used as to examine the variables affecting IPO's first-day return. The empirical results are four-fold. First, the level of first day return of venture-backed is significantly lower than non venture capital backed support in the Chinese venture capital market. Second, the level of first-day return of listed companies supported by foreign venture capital is significantly higher than that of companies receiving domestic venture capital support. Third, the firms that have a large number of venture capital firms showed a low level of first-day return. Fourth, regression result for the IPO first-day return which is as dependent variable indicates that the venture capital support(VCAP), number of venture capital(VCNum), offering size(Lnsize) and PER all affect have negative effect on the first day initial return. Also, the venture capital type(VCType), turnover ratio and the the firm type(Tech-firms) statistically affect IPO first day return positively. Finally, by shedding more light on the IPO first-day return, this paper provides meaningful information to investors about the Chinese IPO market.

• Journal of Korea Society of Industrial Information Systems
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• v.17 no.2
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• pp.81-94
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• 2012

On December 11, 2001, China joined the WTO and became one of the member countries and the Chinese financial markets had to be open in 5 years. So, the Chinese government transformed national commercial banks into joint-stock banks. The purpose of this paper is to investigate the validity of this decision by the Chinese government. In order to measure the efficiency of banks, the directional distance function (DDF) methodology is used, which analyzes whether a bad output exists in the outputs. In the empirical analysis, the number of staffs, the fixed assets, and the equity capital are used as inputs, while the loans and the non-performing loans ratio are used as a good output and a bad output, respectively. The non-performing loans ratio is included in output since it could affect the efficiency of banks. If it isn't considered in the analysis, a distortion might occur in analyzing the efficiency of banks. The results show that the efficiency of the major commercial banks was improved, and that the efficiency of joint-stocks banks was higher for 2002-2003 while the efficiency of national commercial banks was higher for 2004-2006. It was due mainly to the foreign exchanges reserve funds injected into national commercial banks by the Chinese Ministry of Finance, and as a result bad assets were eliminated.