• 한국해양바이오학회지
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• 제2권2호
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• pp.94-101
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• 2007

The status of recently expanded exotic pangasiid catfish Pangasius hypophthalmus, Pangasiidae farming in rural Bangladesh has been studied for finding research needs, through knowing the culture methods, associated activities and problems, to make the farming sustainable. Data were collected using participatory rural appraisal (PRA) tools in nine villages in three upazilas (sub-district) of Mymensingh district. The farmers have not got any formal training and have developed their knowledge on farming the fish through practice over years and sharing of knowledge among fellow farmers. Linked industries, e.g. hatcheries, nurseries, feed mills, trading of feed and fish etc. have developed that created employment opportunities. Most of the farmers produce two crops a year. About 90% of the farmers were found to practice mono culture of pangasiid catfish at high stocking density. The feeding rates started from 10-15% of the body weight per day at fingerling stage that reduced to 4-6% with growth. The average yield was found to be 25 tonslha/year. The livelihood of the farmers has been improved through farming the fish. Women and children were rarely engaged in the activities. The identified major problems in farming the fish were water quality deterioration, high feed costs and declining consumer demand and market price.

• 경영과정보연구
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• 제26권
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• pp.293-309
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• 2008

This study examined the market efficiency of korea stock market by comparing variance ratios(VR) of stock groups which is sorted by market capitalization. We compute variance ratios of KOSPI large capitalization, midium capitalization, and small capitalization for 546 trading days from 2006/01/02 to 2008/04/15. For our study, we also use high frequency data that is; intra-day 1 minute data. The characteristics of variance ratios of stock groups by market capitalization as follows: From 1 to 5 minute interval, variance ratios of three stock group increase far from zero(0). The longer time interval, the more variance ratios decrease, but only large capitalization converge on around zero. This means that the market of large capitalization is more efficient compare to other stock groups. The entire sample period can be divided two sub-period because the impact of sub prime crisis arised from U.S.A. influences Korea stock market. Before sub prime crisis, the VRs of mid cap and small cap do not converge on around zero except large cap although the time interval is longer. After sub prime crisis, the VRs of three stock groups decrease when time interval is longer, but only large cap converge on around zero. We conclude that large cap is more efficient than other stock groups in Korea Stock Market.

• East Asian Economic Review
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• 제25권2호
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• pp.205-230
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• 2021

This study examines the impact of the number of coronavirus cases on regime-switching in stock return volatility. This study documents the empirical evidence that the COVID-19 cases had an asymmetric effect on the regime of stock return volatility. When the stock return is in the low volatility regime, the probability of switching to the high volatility regime in the next trading day increases as the number of cumulative cases increases. In contrast, in the high volatility regime, the effect of cumulative cases on the transition probability is not statistically significant. This study also documents the evidence that the government measures against the pandemic contribute to promoting the high volatility regime of the KOSPI during the pandemic. Besides, this study projects future stock prices through the Monte Carlo simulation based on the estimated parameters and the predicted number of the COVID-19 new cases. Under a scenario where the number of new cases rapidly increases, stock price indices in Korea are expected to be in a downward trend over the next three months. On the other hand, under the moderate scenario and the best scenario, the stock indices are likely to continue to rise.

• International Journal of Advanced Culture Technology
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• 제10권4호
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• pp.255-260
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• 2022

It is true that traditional markets have become a great foundation for changes in today's production and distribution. However, with the development of science and information communication gradually, the perspective of distribution has been newly developed. In particular, the digital economy system and the pursuit of perfect competition in the global era have placed a great burden on the traditional market. Accordingly, the government has made numerous efforts to revitalize traditional markets, which has led to the present day. However, the change in production, distribution, and transactional perspectives of newly introduced e-commerce in the position of not being able to deviate from the characteristics of the traditional market, that is, the traditional market, poses another major crisis. Therefore, while maintaining the tradition of the traditional market, the introduction of a new method of electronic trading has a good advantage to become an advanced market, but it has not pursued major changes due to fundamental management methods and small-scale operation. Therefore, I believe that it is urgent to introduce and apply new e-commerce to secure transitional competitiveness in order for the traditional market to be reborn and to pursue change and development into a new advanced market.

• 유통과학연구
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• 제21권5호
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• pp.101-111
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• 2023

Purpose: The purpose of this paper is to examine the effect of the VKOSPI index on short-term stock returns after a large-scale stock price shock of individual stocks of firms in the distribution industry in Korea. Research design, data, and methodology: This study investigates the effect of the change of the VKOSPI index or investor mood on abnormal returns after the event date from January 2004 to July 2022. The significance of the abnormal return, which is obtained by subtracting the rate of return estimated by the market model from the rate of actual return on each trading day after the event date, is determined based on T-test and multifactor regression analysis. Results: In Korea's distribution industry, the simultaneous occurrence of a bad investor mood and a large stock price decline, leads to stock price reversals. Conversely, the simultaneous occurrence of a good investor mood and a large-scale stock price rise leads to stock price drifts. We found that the VKOSPI index has strong explanatory power for these reversals and drifts even after considering both company-specific and event-specific factors. Conclusions: In Korea's distribution industry-related stock market, investors show an asymmetrical behavioral characteristic of overreacting to negative moods and underreacting to positive moods.

• 응용통계연구
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• 제36권5호
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• pp.457-471
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• 2023

월별 시계열은 일별 시계열의 월별 합이지만, 일별 시계열을 대체로 관측할 수 없어서 요일구성변동, 명절·공휴일변동 등 달력변동을 가상적으로 가정한 가변수를 포함한 RegARIMIA 모형을 이용하여 추정하고 있다. 일별 시계열을 관측할 수 있다면 요일구성변동, 명절·공휴일변동 등 달력변동을 일별 시계열을 바탕으로 추정할 수 있고 이를 이용하여 월별 시계열의 계절조정을 개선할 수 있다. 이 논문에서는 일별 시계열의 달력변동 추정을 이용하여 월별 시계열의 계절조정을 개선하는 방법을 제안하고, 이 방법을 적용하여 3개의 월별 시계열을 계절조정하고 기존의 X-13ARIMA-SEATS를 이용한 계절조정과 비교하였다.

• 에너지공학
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• 제25권4호
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• pp.93-102
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• 2016

V2G (Vehicle-to-Grid)는 전기자동차 배터리에 저장된 전기를 전력판매사의 전력망을 통해 되파는 양방향 전력 전송 기술이다. V2G 시스템을 활용하는 전기자동차 운전자는 전기요금이 저렴한 심야에 충전한 뒤 출퇴근시 사용하고 남은 전력을 전력사용량이 많고 전기요금이 높은 주간에 판매하므로, 피크시 전력수급의 안정성이 향상된다. 이에 정부는 V2G 인프라 구축 및 지원 대책을 마련하면서 V2G 시스템에 대한 잠재적 소비자의 선호 정보를 요구하고 있다. 본 논문에서는 잠재적 소비자인 일반 국민 1,000명을 대상으로 한 일대일 개별면접 설문조사를 통해 수집된 자료를 수집하였다. 소비자의 선호를 분석하기 위해 경제학적 기법인 선택실험법을 적용한다. V2G 시스템의 속성으로 잔존 전력량, 전력 판매시간, 의무접속시간, 현행 차량가액에 추가하는 가격으로 평가된 지불의 사액이라는 4개를 고려하였다. 분석모형으로는 우선 다항로짓모형을 적용하였는데 '비관련 대안의 독립성' 가정이 위배되어, 이 가정을 요구하지 않는 중첩로짓모형을 최종적으로 적용하였다. 효용함수의 모든 추정계수는 유의수준 10%에서 통계적으로 유의하였다. 속성별 분석결과, 전력 판매가능시간이 1시간 증가하는 것에 대한 한계지불의사액(MWTP, marginal willingness to pay)은 1,601,057원이었다. 그러나 잔존 전력량이 1% 감소 및 의무접속시간 1시간 증가에 대한 MWTP는 각각 -91,911원 및 -470,619원으로 분석되었다. 본 연구에서 도출한 V2G 시스템에 대한 정량적인 소비자 선호 정보는 향후 V2G 시스템 도입 및 관리정책에 유용하게 활용될 수 있다.

• 응용통계연구
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• 제29권1호
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• pp.85-98
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• 2016

본 논문은 장외거래 수익률을 이용하여 추정한 여러 실현변동성들을 실증적으로 비교분석한다. 실제 금융 자산 시장에서는 장외시간이나 휴일에 거래가 적거나 드물게 나타나기 때문에 하루 전체의 실현변동성을 정확히 계산하는데 문제가 발생한다. 이를 해결하기 위해 제안되어진 장외거래 수익률을 여러 가지 방법으로 반영한 다양한 실현변동성의 추정치들에 대한 검토가 이루어진다. 실제 데이터의 실현변동성 추정치들의 예측정확성을 비교하기 위해 미국의 NASDAQ 지수와 S&P500 지수와 우리나라의 KOSPI 지수와 원/달러환율이 분석된다. 적분변동성의 불편추정치인 다음날의 로그수익률의 제곱을 기준으로 일일 실현 변동성의 추정치들은 비교되어지며 비교를 위해 절대평균오차(MAE)와 제곱평균오차근(RMSE)이 이용된다. 또한 통계적 추론을 위하여 Model Confidence Set(MCS) 방법과 Diebold-Mariano 검정법을 사용한다. 세 가지 주가지수 데이터에 대해 동일한 최적 방법이 선택되어지는데, 장외시간 수익률을 이용하여 장내시간 실현변동성의 크기 조정을 한 방법이다.

• 수산경영론집
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• 제40권2호
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• pp.49-70
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• 2009

This study proviedes GARCH model(Bollerslev, 1986) to analyze the structural characteristics of price volatility in domestic aquacultural fish market of Korea. As a case study, flatfish and rock-fish are analyzed as major species with relatively high portion in an aspect of production volume among fish captured in Korea. For analyzing, this study uses daily market data (dating from Jan 1 2000 to June 30, 2008) published by the Noryangjin Fisheries Wholesale Market which is located in Seoul of Korea. This study performs normality test on trading volume and price volatility of flatfish and rock-fish as an advanced empirical approach. The normality test adopted is Jarque-Bera test statistic. As a result, first, a null hypothesis that "an empirical distribution follows normal distribution" was rejected in both fishes. The distribution of daily market data of them were not only biased toward positive(+) direction in terms of kurtosis and skewness, but also characterized by leptokurtic distribution with long right tail. Secondly, serial correlations were found in data on market trading volume and price volatility of two species during very long period. Thirdly, the results of unit root test and ARCH-LM test showed that all data of time series were very stationary and demonstrated effects of ARCH. These statistical characteristics can be explained as a reasonable ground for supporting the fitness of GARCH model in order to estimate conditional variances that reveal price volatility in empirical analysis. From empirical data analysis above, this study drew the following conclusions. First of all, from an empirical analysis on potential effects of seasonality and the day of week on price volatility of aquacultural fish, Monday effects were found in both species and Thursday and Friday effects were also found in flatfish. This indicates that Monday is effective in expanding price volatility of aquacultural fish market and also Monday has higher effects upon the price volatility of fish than other days of week have since it has more new information for weekend. Secondly, the empirical analysis led to a common conclusion that there was very high price volatility of flatfish and rock-fish. This points out that the persistency parameter($\lambda$), an index of possibility for current volatility to sustain similarly in the future, was higher than 0.8-equivalently nearly to 1-in both flatfish and rock-fish, which presents volatility clustering. Also, this study estimated and compared and model that hypothesized normal distributions in order to determine fitness of respective models. As a result, the fitness of GARCH(1, 1)-t model was better than model where the distribution of error term was hypothesized through-distribution due to characteristics of fat-tailed distribution, was also better than model, as described in the results of basic statistic analysis. In conclusion, this study has an important mean in that it was introduced firstly in Korea to investigate in price volatility of Korean aquacultural fishery products, although there was partially a limited of official statistic data. Therefore, it is expected that the results of this study will be useful as a reference material for making and assessing governmental policies. Also, it is looked forward that the results will be helpful to build a fishery business plan as and aspect of producer, and also to take timely measures to potential price fluctuations of fishery products in market. Hence, it is advisable that further studies related to such price volatility in fishery market will extend and evolve into a wider variety of articles and issues in near future.

• 물과 미래
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• 제8권2호
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• pp.30-40
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• 1975

Hydrogeological survey and geophysical prospecting have been carried out in Saudi Arabia for the purpose of finding groundwater in the soil and rock at the request of General trading company in Jeddah, Saudi Arabia. The surveyed area is located on $38^{\circ}-39^{\circ}$ 30' in longitude and $26^{\circ}-26^{\circ}$ 30' in latitude. The topography of this area is dominated by northwest southeast mountain range composed mostly of precambrian rocks and basalt of tertiary period. Geology is mainly composed of greenstone, granite, andesite, diorite rhyolite of pre-cambrian era and sandstone of cambrian period which are underlained by basalt and andesite of tertiary period and alluvium of quaternary unconformably. The instruments used in this investigation are TR-18B2 radioactivity unit which isjapanese patented and A.C. Terrameter, a resistivity meter manufactured by ABEM of Stockholm, Sweden. Radioactivity method has been conducted along the Alula-Khaybar road, totally 164Km by the car-borne. As a result of the above survey 16 places have been selected and these anomalies show 1.2N-1.6N compared to background of each area in intensity with width of 10-50m. Resistivity vertical profiling which made use of Schlumberger configuration method has been made over selected areas by radioactivity method to provide hydrogeological information for a water resources survey. The result of resistivity shows that good aquifers are located in the western part of surveyed area where sedimentary rock is distributed. The strata showing 10-50, ${\Omega}-m$ in resistivity are thought to be waterbearing layer. The variations in aquifer resistivity found, are thought to be due to verying clay content, which could be related to aquifer yield. It has proved impossible to detect small salinity variation in the buried aquifer by geophysics. As a result of resistivity prospecting 10 places are recommended to be drilled at the anomalies as shown attached map. yields from the proposed holes have been estimated approximately from $20m^3$ to $200m^3$ per day. Prior to drilling for groundwater, test boring using ${\c}4"$ should be drilled in order to obtain more reliable hydrogeological information for the construction of perfect wells.ells.