• Journal of Intelligence and Information Systems
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• v.21 no.3
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• pp.117-129
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• 2015

As the Internet becomes ubiquitous, a large volume of information is posted on the Internet with exponential growth every day. Accordingly, it is not unusual that investors in stock markets gather and compile firm-specific or market-wide information through online searches. Importantly, it becomes easier for investors to acquire value-relevant information for their investment decision with the help of powerful search tools on the Internet. Our study examines whether or not the Internet helps investors assess a firm's value better by using firm-level data over long periods spanning from January 2004 to December 2013. To this end, we construct weekly-based search volume for information technology (IT) services firms on the Internet. We limit our focus to IT firms since they are often equipped with intangible assets and relatively less recognized to the public which makes them hard-to measure. To obtain the information on those firms, investors are more likely to consult the Internet and use the information to appreciate the firms more accurately and eventually improve their investment decisions. Prior studies have shown that changes in search volumes can reflect the various aspects of the complex human behaviors and forecast near-term values of economic indicators, including automobile sales, unemployment claims, and etc. Moreover, search volume of firm names or stock ticker symbols has been used as a direct proxy of individual investors' attention in financial markets since, different from indirect measures such as turnover and extreme returns, they can reveal and quantify the interest of investors in an objective way. Following this line of research, this study aims to gauge whether the information retrieved from the Internet is value relevant in assessing a firm. We also use search volume for analysis but, distinguished from prior studies, explore its impact on return comovements with market returns. Given that a firm's returns tend to comove with market returns excessively when investors are less informed about the firm, we empirically test the value of information by examining the association between Internet searches and the extent to which a firm's returns comove. Our results show that Internet searches are negatively associated with return comovements as expected. When sample is split by the size of firms, the impact of Internet searches on return comovements is shown to be greater for large firms than small ones. Interestingly, we find a greater impact of Internet searches on return comovements for years from 2009 to 2013 than earlier years possibly due to more aggressive and informative exploit of Internet searches in obtaining financial information. We also complement our analyses by examining the association between return volatility and Internet search volumes. If Internet searches capture investors' attention associated with a change in firm-specific fundamentals such as new product releases, stock splits and so on, a firm's return volatility is likely to increase while search results can provide value-relevant information to investors. Our results suggest that in general, an increase in the volume of Internet searches is not positively associated with return volatility. However, we find a positive association between Internet searches and return volatility when the sample is limited to larger firms. A stronger result from larger firms implies that investors still pay less attention to the information obtained from Internet searches for small firms while the information is value relevant in assessing stock values. However, we do find any systematic differences in the magnitude of Internet searches impact on return volatility by time periods. Taken together, our results shed new light on the value of information searched from the Internet in assessing stock values. Given the informational role of the Internet in stock markets, we believe the results would guide investors to exploit Internet search tools to be better informed, as a result improving their investment decisions.

• Journal of the Korean Institute of Landscape Architecture
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• v.44 no.4
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• pp.86-99
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• 2016

This study was for analyzing the external environment and internal space structure and improving the way of use efficiency in waterfront through the Dragon boat festival to utilize waterfront actively. Through from the four target area, Hongkong, Busan, Incheon and Daejeon, this study was for an importance and satisfaction analysis for users about the element effect on the waterfront use efficiency and the contribution to cultural contents revitalization of waterfront by giving basic data. The result is as follows. First, in the importance analysis about 12 items, modern cultural infra around the waterfront was ranked highest, 8.26 and waterfront landscape, square & openspaces, convenience facilities, transport, green area, quality of viewing space, historic resources, pedestrian, suitability of width, wave, depth, water quality, berth & mooring were ranked in descending order. Second, waterfront landscape was interpreted by rather the external environmental impact according to city size than the matter of spatial structure in target area and judged as an important factor effect on site selection for waterfront. In the analysis of waterfront landscape, the reason of the high satisfaction about domestic target area was that riverside parks were recently made considering their waterfront activities. Viewing space was major infra where people could experience the pleasant waterfront and watch dynamic water leisure sports like Dragon boat three dimensionally and was thought to be improved for the use efficiency. Third, tourism resources were very important element that affect the use efficiency of waterfront, so waterfront users react sensitively to modern tourism resources rather than to historic resources. This meant that tourism infrastructure for shopping and leisure of the young affected the use efficiency of waterfront, so Hongkong and Busan were in a better position in terms of using waterfront that was near the tourism infrastructure. Fourth, in the analysis of traffic accessibility, both Hongkong and Busan were high evaluated in terms of excellent traffic accessibility by subway. Daejeon was low rated in terms of the satisfaction of use efficiency, because of the relative lower place awareness compared with transportation infrastructure. In Hongkong, waterfront was connected with downtown and in Busan, housing complex and shopping centers were located in the place for users in an easily accessible on foot, so the satisfaction was high-pitched. Finally, in the importance of water surface width and the analysis of satisfaction, except Incheon, all the three were over 200m in width of water surface and this meant the surface width above certain level was interpreted to interrupt the concentration of enjoying the water leisure sports. In the analysis of surface condition such as water quality, water depth and wave, through a survey, Busan had a problem with water quality and Gapcheon in Daejeon had a problem with optimal water depth by the festival participants.

• Proceedings of the KOR-KST Conference
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• 1995.12a
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• pp.45-73
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• 1995

The current paper presents a system dynamics model which can generate the land use anq transportation system performance simultaneously is proposed. The model system consists of 7 submodels (population, migration of population, household, job growth-employment-land availability, housing development, travel demand, and traffic congestion level), and each of them is designed based on the causality functions and feedback loop structure between a large number of physical, socio-economic, and policy variables. The important advantages of the system dynamics model are as follows. First, the model can address the complex interactions between land use and transportation system performance dynamically. Therefore, it can be an effective tool for evaluating the time-by-time effect of a policy over time horizons. Secondly, the system dynamics model is not relied on the assumption of equilibrium state of urban systems as in conventional models since it determines the state of model components directly through dynamic system simulation. Thirdly, the system dynamics model is very flexible in reflecting new features, such as a policy, a new phenomenon which has not existed in the past, a special event, or a useful concept from other methodology, since it consists of a lots of separated equations. In Chapter I, II, and III, overall approach and structure of the model system are discussed with causal-loop diagrams and major equations. In Chapter V _, the performance of the developed model is applied to the analysis of the impact of highway capacity expansion on land use for the area of Montgomery County, MD. The year-by-year impacts of highway capacity expansion on congestion level and land use are analyzed with some possible scenarios for the highway capacity expansion. This is a first comprehensive attempt to use dynamic system simulation modeling in simultaneous treatment of land use and transportation system interactions. The model structure is not very elaborate mainly due to the problem of the availability of behavioral data, but the model performance results indicate that the proposed approach can be a promising one in dealing comprehensively with complicated urban land use/transportation system.

• Asia pacific journal of information systems
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• v.23 no.4
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• pp.103-128
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• 2013

When a consumer needs a product or service and multiple sellers are available online, the process of selecting a seller to buy online from is complex since the process involves many behavioral dimensions that have to be taken into account. As a part of this selection process, consumers may set minimum trust expectation that can be used to screen out less trustworthy sellers. In the previous research, the level of consumers' trust expectation has been anchored on two important factors: product involvement and perceived risk. Product involvement refers to the extent to which a consumer perceives a specific product important. Thus, the higher product involvement may result in the higher trust expectation in sellers. On the other hand, other related studies found that when consumers perceived a higher level of risk (e.g., credit card fraud risk), they set higher trust expectation as well. While abundant research exists addressing the relationship between product involvement and perceived risk, little attention has been paid to the integrative view of the link between the two constructs and their impacts on the trust expectation. The present paper is a step toward filling this research gap. The purpose of this paper is to understand the process by which a consumer chooses an online merchant by examining the relationships among product involvement, perceived risk, trust expectation, and intention to buy from an e-tailer. We specifically focus on the mediating role of perceived risk in the relationships between enduring product involvement and the trust expectation. That is, we question whether product involvement affects the trust expectation directly without mediation or indirectly mediated by perceived risk. The research model with four hypotheses was initially tested using data gathered from 635 respondents through an online survey method. The structural equation modeling technique with partial least square was used to validate the instrument and the proposed model. The results showed that three out of the four hypotheses formulated were supported. First, we found that the intention to buy from a digital storefront is positively and significantly influenced by the trust expectation, providing support for H4 (trust expectation ${\rightarrow}$ purchase intention). Second, perceived risk was found to be a strong predictor of trust expectation, supporting H2 as well (perceived risk ${\rightarrow}$ trust expectation). Third, we did not find any evidence of direct influence of product involvement, which caused H3 to be rejected (product involvement ${\rightarrow}$ trust expectation). Finally, we found significant positive relationship between product involvement and perceived risk (H1: product involvement ${\rightarrow}$ perceived risk), which suggests that the possibility of complete mediation of perceived risk in the relationship between enduring product involvement and the trust expectation. As a result, we conducted an additional test for the mediation effect by comparing the original model with the revised model without the mediator variable of perceived risk. Indeed, we found that there exists a strong influence of product involvement on the trust expectation (by intentionally eliminating the variable of perceived risk) that was suppressed (i.e., mediated) by the perceived risk in the original model. The Sobel test statistically confirmed the complete mediation effect. Results of this study offer the following key findings. First, enduring product involvement is positively related to perceived risk, implying that the higher a consumer is enduringly involved with a given product, the greater risk he or she is likely to perceive with regards to the online purchase of the product. Second, perceived risk is positively related to trust expectation. A consumer with great risk perceptions concerning the online purchase is likely to buy from a highly trustworthy online merchant, thereby mitigating potential risks. Finally, product involvement was found to have no direct influence on trust expectation, but the relationship between the two constructs was indirect and mediated by the perceived risk. This is perhaps an important theoretical integration of two separate streams of literature on product involvement and perceived risk. The present research also provides useful implications for practitioners as well as academicians. First, one implication for practicing managers in online retail stores is that they should invest in reducing the perceived risk of consumers in order to lower down the trust expectation and thus increasing the consumer's intention to purchase products or services. Second, an academic implication is that perceived risk mediates the relationship between enduring product involvement and trust expectation. Further research is needed to elaborate the theoretical relationships among the constructs under consideration.

• Trans-
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• v.9
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• pp.17-36
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• 2020

This study is aimed at discussing the possibility of content production, utilization and expansion, focusing on the exhibition case of Danwon Art Museum run by Ansan Cultural Foundation. In 1991, the Ministry of Culture, Sports and Tourism named Ansan as the City of Danwon since it is believed to be the hometown of Danwon Kim Hong-do (1745~?), a painter of the late Joseon Dynasty and a well-known master of genre painting. As a result, Ansan is making various efforts to utilize Danwon Kim Hong-do for its unique resource through internal and external business such as the creation of Danwon Sculpture Park, the operation of Danwon Art Museum, and the planning of Danwon Kim Hong-do Festival. However, the biggest problem with Ansan is that there are not many collections of Kim Hong-do. Ansan has owned a total of six works as of May this year: a deer and a boy, flowers and a bird, A view of clouds on the water, Daegwallyeong, Yeodongbin, A way to Singwangsa. Accordingly, Danwon Contents Center has set up a vision to systematically collect, preserve, and display various visual and artistic materials related to Kim Hong-do, offering high-quality information based on digital data. In other words, it is a complex cultural information agency of One-Source Multi-Use, which combines the functions of libraries, archives and art galleries so that visitors' desire is satisfied. It reflects the contemporary trend of overcoming the limitations of the ancient paintings and satisfying the role and function of the art museum. From the opening of the Danwon Contents Hall, the original work of Kim Hong-do has been interpreted and produced as media contents or recreated as a new form of art by modern artists. Exhibition using technologies such as touch screen and 'deep zoom' helps visitors to heighten their experience of the archives and get inside the world of the genius painter.

• Journal of Life Science
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• v.31 no.9
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• pp.806-817
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• 2021

Increasing evidence suggests that depression is associated with impairments in neural plasticity. Sirtuin 1 plays an important role in neural plasticity, and the activation of mechanistic target of rapamycin complex 1 (mTORC1) signaling is known to improve neural plasticity. In this study, we aimed to determine whether sirtuin 1 affects dendrite outgrowth and spine formation through mTORC1 signaling. Resveratrol (sirtuin 1 activator; 1 and 10 μM) and sirtinol (sirtuin 1 inhibitor; 1 and 10 μM) were treated in primary cortical culture with and without dexamethasone (500 μM). Levels of sirtuin 1, phospho-extracellular signal regulated protein kinase 1/2 (ERK1/2), phospho-mTORC1, and phospho-p70 ribosomal protein S6 kinase (p70S6K) were evaluated using Western blot analysis. Dendritic outgrowth and spine density were assessed using immunostaining. Resveratrol significantly increased levels of sirtuin 1 expression and phosphorylation of ERK1/2 (a downstream target of sirtuin 1), mTORC1, and p70S6K (a downstream target of mTORC1) in a concentration-dependent manner under dexamethasone conditions. Resveratrol also significantly increased dendritic outgrowth and spine density. Conversely, sirtinol significantly decreased levels of sirtuin 1 expression and phosphorylation of ERK1/2, mTORC1, and p70S6K in a concentration-dependent manner under normal conditions. Moreover, sirtinol significantly decreased dendritic outgrowth and spine density. Consistent with the results of sirtinol, sirtuin 1 knockdown using sirtuin 1 siRNA transfection significantly decreased dendritic outgrowth and spine density as well as phosphorylation levels of ERK1/2 and mTORC1. These data suggest that sirtuin 1 enhances dendritic outgrowth and spine density by activating mTORC1 signaling.

• The Korean Journal of Air & Space Law and Policy
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• v.33 no.2
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• pp.61-114
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• 2018

Recently airspace became a hot issue considering today's international relations. However, there was no data that could be fully explained about a legal system of korean airspace, so I looked at law and practice about korean airspace together. The nation's aviation law sector is comletely separate from those related to civil and military aircraft, at least in legal terms. The Minister of Land, Infrastructure and Transport shall carry out his/her duties with various authority granted by the "Aviation Safety Act". The nation's aviation-related content is being regulated too much by the Ministry of Land, Infrastructure and Transport's notice or regulation, and there are many things that are not well known about which clauses of the upper law are associated with. The notice should be clearly described only in detail on delegated matters. As for the airspace system, the airspace system is too complex for the public to understand, and there seems to be a gap between law and practice. Therefore, I think it would be good to reestablish a simple and practical airspace system. Airspace and aviation related tasks in the military need to be clearly understood by distinguishing between those entrusted by the Minister of Land, Infrastructure and Transport and those inherent in the military. Regarding matters entrusted by the Minister of Land, Infrastructure and Transpor, it is necessary to work closely with the Minister of Land, Infrastructure and Transport when preparing related work guidelines, and to clarify who should prepare the guidelines. Regarding airspace control as a military operation, policies or guidelines that are faithful to military doctrine on airspace control are needed.

• Journal of the Korean earth science society
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• v.40 no.3
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• pp.227-239
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• 2019

Heavy snowfall events frequently occur in the Gangwon province, and the snowfall amount significantly varies in space due to the complex terrain and topographical modulation of precipitation. Understanding the spatial characteristics of heavy snowfall and its prediction is particularly challenging during snowfall events in the easterly winds. The easterly wind produces a significantly different atmospheric condition. Hence, it brings different precipitation characteristics. In this study, we have investigated the microphysical characteristics of snowfall in the windward and leeward sides of the Taebaek mountain range in the easterly condition. The two snowfall events are selected in the easterly, and the snow particles size distributions (SSD) are observed in the four sites (two windward and two leeward sites) by the PARSIVEL distrometers. We compared the characteristic parameters of SSDs that come from leeward sites to that of windward sites. The results show that SSDs of windward sites have a relatively wide distribution with many small snow particles compared to those of leeward sites. This characteristic is clearly shown by the larger characteristic number concentration and characteristic diameter in the windward sites. Snowfall rate and ice water content of windward also are larger than those of leeward sites. The results indicate that a new generation of snowfall particles is dominant in the windward sites which is likely due to the orographic lifting. In addition, the windward sites show heavy aggregation particles by nearby zero ground temperature that is likely driven by the wet and warm condition near the ocean.

• Journal of Astronomy and Space Sciences
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• v.36 no.1
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• pp.21-33
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• 2019

This paper focuses on the interpretation of radiation fluxes from active galactic nuclei. The advantage of positron annihilation spectroscopy over other methods of spectral diagnostics of active galactic nuclei (therefore AGN) is demonstrated. A relationship between regular and random components in both bolometric and spectral composition of fluxes of quanta and particles generated in AGN is found. We consider their diffuse component separately and also detect radiative feedback after the passage of high-velocity cosmic rays and hard quanta through gas-and-dust aggregates surrounding massive black holes in AGN. The motion of relativistic positrons and electrons in such complex systems produces secondary radiation throughout the whole investigated region of active galactic nuclei in form of cylinder with radius R= 400-1000 pc and height H=200-400 pc, thus causing their visible luminescence across all spectral bands. We obtain radiation and electron energy distribution functions depending on the spatial distribution of the investigated bulk of matter in AGN. Radiation luminescence of the non-central part of AGN is a response to the effects of particles and quanta falling from its center created by atoms, molecules and dust of its diffuse component. The cross-sections for the single-photon annihilation of positrons of different energies with atoms in these active galactic nuclei are determined. For the first time we use the data on the change in chemical composition due to spallation reactions induced by high-energy particles. We establish or define more accurately how the energies of the incident positron, emitted ${\gamma}-quantum$ and recoiling nucleus correlate with the atomic number and weight of the target nucleus. For light elements, we provide detailed tables of all indicated parameters. A new criterion is proposed, based on the use of the ratio of the fluxes of ${\gamma}-quanta$ formed in one- and two-photon annihilation of positrons in a diffuse medium. It is concluded that, as is the case in young supernova remnants, the two-photon annihilation tends to occur in solid-state grains as a result of active loss of kinetic energy of positrons due to ionisation down to thermal energy of free electrons. The single-photon annihilation of positrons manifests itself in the gas component of active galactic nuclei. Such annihilation occurs as interaction between positrons and K-shell electrons; hence, it is suitable for identification of the chemical state of substances comprising the gas component of the investigated media. Specific physical media producing high fluxes of positrons are discussed; it allowed a significant reduction in the number of reaction channels generating positrons. We estimate the brightness distribution in the ${\gamma}-ray$ spectra of the gas-and-dust media through which positron fluxes travel with the energy range similar to that recorded by the Payload for Antimatter Matter Exploration and Light-nuclei Astrophysics (PAMELA) research module. Based on the results of our calculations, we analyse the reasons for such a high power of positrons to penetrate through gas-and-dust aggregates. The energy loss of positrons by ionisation is compared to the production of secondary positrons by high-energy cosmic rays in order to determine the depth of their penetration into gas-and-dust aggregations clustered in active galactic nuclei. The relationship between the energy of ${\gamma}-quanta$ emitted upon the single-photon annihilation and the energy of incident electrons is established. The obtained cross sections for positron interactions with bound electrons of the diffuse component of the non-central, peripheral AGN regions allowed us to obtain new spectroscopic characteristics of the atoms involved in single-photon annihilation.

• The Journal of Korean Philosophical History
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• no.59
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• pp.9-38
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• 2018

Joseon Neo-Confucianism had important disputes throughout its hundred years of history. Starting in mid-16th century, Four-Seven Dispute focused on 'Qing (情, emotion)' while Horak Dispute that emerged in early 18th century put emphasis on whether people and things have the same 'Xing (性, nature).' These two disputes lasted until late Joseon. In that process, their issues were clearly recognized and consequently, characteristics of Joseon Neo-Confucianism were well demonstrated. With Western power surging in since mid-18th century, Joseon Neo-Confucianism should develop logic to cope with the Western power. One of responding logics was Zhulilun (主理論, theory of reason) in Neo-Confucianism. Diverse discussions particularly on 'Xin (心, mind)' were expansively made. From the notion of Xin Tong Xing Qing (心統性情) that Xin converges with Xing and Qing, an argument that Xin should be seen as 'Li (理, reason)' and another that Xin is basically 'Qi (氣, force of nature)' were up against each other. The academia heated up with issues raised such as whether Xin and Mingde (明德, bright virtue) are the same notion and whether Mingde should be seen as 'Li' or 'Qi', etc. Defining morality dispute in the late Joseon along with Four-Seven Dispute and Horak Dispute as 'three major disputes in Joseon Neo-Confucianism,' this paper focuses on clarifying their status, actuality and significance. Morality dispute was not only a theoretical dispute. It has significance in the aspect of 'topicality.' It directly and indirectly affected movements against Western and Japanese power, loyal troop's activities and independence movement as well. Compared to Four-Seven Dispute and Horak Dispute, morality dispute is more complex and expansive. In addition, it requires systematic organization of data. Intercomparison of three major disputes is one of key topics to determine characteristics of Joseon Neo-Confucianism.