• The Journal of Asian Finance, Economics and Business
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• v.8 no.4
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• pp.55-67
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• 2021

This study aims to measure the lower tail dependence as risk contagion from the U.S. economy to 18 developing countries affecting FDI inflows using time-series data from 2005 to 2019. Firstly, we utilize four dynamic copula models, namely, Student-t, Clayton, rotated survival Gumbel, and rotated survival Joe, to measure the tail dependence structure between the U.S. and each developing country's real GDP growth. Secondly, we use the regression model to explore the contagion effects on FDI inflows. The results show that there is evidence of the tail dependence between the U.S and developing economies, indicating the presence of the contagion effects. Primarily, we observe that the degree of contagion effects of the global financial crisis varies across countries; a strong impact is observed in Chinese, South African, Russian, Colombian, and Mexican economic growth. Furthermore, we found significant contagion risk affecting FDI inflows positively in China, Indonesia, Columbia, Morocco, and negatively in the Philippines, Bulgaria, and South Africa. This study demonstrates the usefulness of the copulas model in terms of examining contagion. Our findings shed light on the influence of sound policies and regulations to cope with both positive and negative consequences of the contagion on the capital movement.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.2
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• pp.759-770
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• 2021

Using a DCC - GARCH model analysis, this paper examines the existence of financial contagion from the U.S. stock market to the Vietnamese and the Philippine stock markets during the global financial crisis and the COVID-19 pandemic crisis. We use daily data from the S&P 500 (U.S.), VN-Index (Vietnam), and the PSEi (the Philippines). As a result, there is no evidence of contagion from the U.S stock market to the Philippine stock market that can be found during global financial crisis, while the Vietnamese market is influenced by this effect. Besides, both these developing stock markets (the Vietnamese and Philippine stock markets) are influenced by the contagion effect in COVID-19 pandemic crisis. Another finding is that the contagion effect during the coronavirus pandemic crisis in Vietnam is smaller than that during the global financial crisis, however, the opposite is the case for the Philippines. It is noticed that the Philippines seems to be more affected by the contagion effect from the COVID-19 pandemic than Vietnam at the time of this study. Because financial contagion is important for monetary policy, asset pricing, risk measurement, and portfolio allocation, the findings in this paper may give some useful information for policymakers and investors.

• The Journal of the Korea Contents Association
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• v.22 no.7
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• pp.583-598
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• 2022

This study is a follow-up study of the Social Media Emotional Contagion(SECS) and it aims to validate the Social Media Emotional Contagion Scale(SECS) through CFA and criterion-related validity. The data was collected from 326 people in 20s. The criterion-related validity of SECS were confirmed with the Korean version of the Emotional Contagion Scale(K-ECS), the Basic Empathy Scale in Adult(BES-A), and the Rosenberg Self-esteem Scale(SES). As a result, the K-ECS and sub-factor of Emotional Contagion of BES-A, which are the same as the construction of SECS, converged. Other scales were differentiated from SECS. However, sub-factor of SES of positive self-esteem, which are the same as the construction of SECS, converged. Also, sub-factor of SES of negative self-esteem, which are the same as the construction of SECS of negative Emotional Contagion, converged. Finally, the significance and limitations of this study and future studies were discussed.

• East Asian Economic Review
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• v.19 no.4
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• pp.357-379
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• 2015

We investigate interconnectedness and the contagion effect of default risk in Asian sovereign CDS markets since the global financial crisis. Using dynamic conditional correlation analysis, we find that there are significant co-movements in Asian sovereign CDS markets; that such co-movements tend to be larger between developing countries than between developed and developing countries; and that in the co-movements intra-regional nature is stronger than inter-regional nature. With the Spillover Index model, we measure contagion probabilities of sovereign default risk in CDS markets of seven Asian countries and find evidence of contagion effects among six of them; Japan is the exception. In addition, we find that these six countries are affected more by cross-market spillovers than by their own-market spillovers. Furthermore, a rolling-sample analysis reveals that contagion in the Asian sovereign CDS markets expands during episodes of extreme economic and financial distress, such as the Lehman Brothers bankruptcy, the European financial crisis, and the US-credit downgrade.

• The Korean Journal of Applied Statistics
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• v.29 no.1
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• pp.75-83
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• 2016

We propose methodology to analyze the dynamic mechanisms of financial market contagion under market integration using a biological contagion analytical approach. We employ U-statistic to measure market integration, and a dynamic model based on an error correction mechanism (single equation error correction model) and latent factor model to examine market contagion. We also use quantile regression and Wald-Wolfowitz runs test to test market contagion. This methodology is designed to effectively handle heteroscedasticity and correlated errors. Our simulation results show that the single equation error correction model fits well with the linear regression model with a stationary predictor and correlated errors.

• Korean Journal of Adult Nursing
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• v.14 no.1
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• pp.5-14
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• 2002

Purpose: This study investigated the effect of an AIDS education program of nursing junior students on knowledge, attitudes, fear of contagion, and nursing intentions about AIDS. Method: The study was conducted in a university in Chungnam province from March, 2000 to May, 2001. Research design of this study was a nonequivalent control group, non-synchronized design. A traditional lecture education was given to the control group. The experimental group received a multi-media education using video tape and group discussion as well as traditional lecture education. Data were collected 1 month before and after education. The SPSS program was used to analyze the data. Results: The results of this study were as follows: There were significant differences in the mean of knowledge (t=4.227, p=.000), prejudice (t=-2.281, p=.025), social interaction (t= 4.144, p=.000) between experimental group and the control group. But, there were no significant differences in the mean of fear of contagion (t=-7.320, p=.467) and nursing intention (t=.800, p=.427) between the two groups. Conclusion: The findings of this study showed the benefits of providing educational interventions for improving knowledge and attitudes, but didn't show any significant changes on fear of contagion and nursing intention. Therefore, to reduce fear of contagion and increase nursing intention, various teaching strategies need to be further studied and evaluated.

• Korean Journal of Child Studies
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• v.12 no.2
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• pp.37-50
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• 1991

The purpose of this study was to assess preschool children's understanding of contagion and their use of immanent justice explanation for illness and accidents, 124 children (66 four-year-olds and 58 five-year-olds) were interviewed individually by two female interviewers. The data were analyzed by ${\chi}^2$ and correlation. Preliminary analyses revealed no significant sex and age differences: Therefore, the data were collapsed across sex and age for all further analyses. The results showed that preschool children have a concept of contagion as a cause of illness, and they understand the effect of distance between people on the likelihood of transmitting contagious ailments. They overextend the concept of contagion to inappropriate ailments: that is, to noncontagious illnesses and to accidents. They employed immanent justice explanations for all illnesses (contagious and noncontagious) and accidents.The use of immanent justice was inversely related to application of the concept of contagion.

• East Asian Economic Review
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• v.18 no.2
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• pp.187-212
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• 2014

The purpose of this paper is to examine the equity market crisis contagion in major Asian economic markets. A comparative assessment of Asian markets during the Asian Financial Crisis and Global Financial crisis may clearly identify the changing nature of long term integration of major Asian markets. The selection criteria of specific Asian markets of different peripheries depend particularly on the roles and structure of these markets. The impact of the global financial contagion and the lingering financial linkage in the aftermath of crisis will explain the reaction of the majority of Asian markets to global linkage. While majority of the studies focused on dynamic short term association in European and MENA contagions in the post global financial crisis period; after the global financial crisis, attention paid to long term Asian contagion adds new perspective to hitherto disorganized theories.

• Korean Journal of Culture and Social Issue
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• v.13 no.2
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• pp.55-76
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• 2007

This study investigated the relationship between emotional contagion and altruistic behaviors and also examined the moderating effect of self-construals(independent and interdependent self) in this relationship. It was hypothesized that the emotional expression of people in need would be caught by others through automatic mimicry, that emotional information would be internalized through the facial-feedback process and that the transferred emotion would eventually result in a motive to call for altruistic behaviors. In Study 1, participants watched a video clip about a disabled student reporting difficulties in school life but showing facial expression opposite to the contents of message to separate emotional contagion and empathy. Participants' decision to participate in voluntary works for the disabled student was measured. As a result, it was found that the more participants experienced emotional contagion, the more they participated in altruistic behaviors. Study 2 measured the vulnerability to emotional contagion, actual experiences of altruistic behaviors, and self-construals. The results of hierarchical regression showed that interdependent self moderated the influence of emotional contagion on altruistic behaviors whereas independent self moderated the relationship in an opposite direction. The implications of emotion and altruistic behaviors in human evolution process are discussed.

• Asia Marketing Journal
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• v.19 no.1
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• pp.35-54
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• 2017

Researchers in marketing, sociology, and economics have been interested in the role of social interactions in consumer choice and consumption behaviors. Social interactions, labeled variously as peer effects, social contagion, and neighborhood effects, have important implications for firms' allocation of marketing efforts. In this research, we test and provide empirical evidence for peer effects in consumers' service usage in the context of gym-going behaviors. Using a detailed individual-level membership and attendance data at one of the largest health club chains in the U.S., we document that a focal member's gym-going behavior is influenced by the behaviors and characteristics of the peers at the same branch