• The Journal of Korean Association of Computer Education
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• v.17 no.6
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• pp.103-113
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• 2014

This study designed and implemented a query model for consecutive analyses of dynamic multivariate graph data. First, the query model consists of two procedures; setting the discriminant function, and determining an alteration method. Second, the query model was implemented as a query system that consists of a query panel, a graph visualization panel, and a property panel. A Node-Link Diagram and the Force-Directed Graph Drawing algorithm were used for the visualization of the graph. The results of the queries are visually presented through the graph visualization panel. Finally, this study used the data of worldwide import & export data of small arms to verify our model. The significance of this research is in the fact that, through the model which is able to conduct consecutive analyses on dynamic graph data, it helps overcome the limitations of previous models which can only perform discrete analysis on dynamic data. This research is expected to contribute to future studies such as online decision making and complex network analysis, that use dynamic graph models.

• Proceedings of the Korean Statistical Society Conference
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• 2005.11a
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• pp.167-173
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• 2005

This paper presents an autocorrelation test that is applicable to dynamic panel data models with serially correlated errors. The residual-based GMM t-test is a significance test that is applied after estimating a dynamic model by using the instrumental variable(IV) method and is directly applicable to any other consistently estimated residuals. Monte Carlo simulations show that the t-test has considerably more power than the $m_2$ test or the Sargan test under both forms of serial correlation (i.e., AR(1) and MA(1)).

• Journal of the Korean Statistical Society
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• v.34 no.4
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• pp.367-375
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• 2005

This paper presents an autocorrelation test that is applicable to dynamic panel data models with serially correlated errors. The residual-based GMM t-test is a significance test that is applied after estimating a dynamic model by using the instrumental variable (IV) method and is directly applicable to any other consistently estimated residuals. Monte Carlo simulations show that the t-test has considerably more power than the $m_2$ test or the Sargan test under both forms of serial correlation (i.e., AR(1) and MA(1)).

• Journal of Energy Engineering
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• v.26 no.2
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• pp.80-92
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• 2017

This paper attempts to estimate the diesel fuel demand function in Korea using panel data panel data of 16 major cities or provinces which consist of diesel demands, diesel market prices and gross value added from the year 1998 to 2015. I apply panel GLS(generalized least square) model, fixed effect model, random effect model and dynamic panel model to estimating the parameters of the diesel fuel demand function. The results show that short-run price elasticities of the diesel fuel demand are estimated to be -0.2146(panel GLS), -0.2886(fixed effect), -0.2854(random effect), -0.1905(dynamic panel) respectively. And short-run income elasticities of the diesel fuel demand are estimated to be 0.7379(panel GLS), 0.4119(fixed effect), 0.7260(random effect), 0.4166(dynamic panel) respectively. The short-run price and income elasticities explain that demand for diesel fuel is price- and income-inelastic. The long-run price and income elasticities are estimated to be -0.4784, 1.0461 by dynamic panel model, which means that demand for diesel fuel is price-inelastic but income-elastic in the long run. In addition I apply dummy variable model to estimate the effect of 16 major cities or provinces on diesel demands. The results show that diesel demands is affected 10 regions on the basis of Seoul.

• Journal of Korean Society of Transportation
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• v.20 no.6
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• pp.129-140
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• 2002

This paper develops a dynamic structural equation model, which captures relationships among socio-demographics, activity participation(i.e., time use) and travel behavior in consideration with time variation effects. The data used in developing the model are two waves(the year 1991 and 1992) from Puget Sound Transportation Panel (PSTP). which is surveyed in Puget Sound Region in United States. The PSTP is widely used in transportation behavior analysis and includes various information of traveler's socio-economic, travel patterns, and activity participation. In the model, we use 10 endogenous variables including activity participations and travel behaviors and 10 exogenous variables composed of time variant and invariant traveler's socio-demographic variables. The empirical model shows that strong relationships exist not only between socio-demographics and travel behavior, but between waves. We also confirm needs of panel data set to identify and understand time variation effects and travel behaviors.

• Journal of Korean Society of Transportation
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• v.18 no.6
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• pp.63-75
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• 2000

Stated Preference (SP) data has been regarded as more useful than Revealed Preference (RP) data, because researchers can investigate the respondents\` Preference and attitude for a traffic condition or a new traffic system by using the SP data. However, the SP data has two bias: the first one is the bias inherent in SP data and the latter one is the attrition bias in SP panel data. If the biases do not corrected, the choice model using SP data may predict a erroneous future demand. In this Paper, six route choice models are constructed to deal with the SP biases, and. these six models are classified into cross-sectional models (model I∼IH) and dynamic models (model IV∼VI) From the six models. some remarkable results are obtained. The cross-sectional model that incorporate RP choice results of responders with SP cross-sectional model can correct the biases inherent in SP data, and also the dynamic models can consider the temporal variations of the effectiveness of state dependence in SP responses by assuming a simple exponential function of the state dependence. WESML method that use the estimated attrition probability is also adopted to correct the attrition bias in SP Panel data. The results can be contributed to the dynamic modeling of SP Panel data and also useful to predict more exact demand.

• Journal of the Korean Operations Research and Management Science Society
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• v.31 no.2
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• pp.157-167
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• 2006

Estimating the effects of price increase on a company's sales is important task faced by managers. If consumer has prior information on price increase or expects it, there would be stockpiling and subsequent drops in sales. In addition, consumer can suppress demand in the short run. These factors make the sales dynamic and unstable. In this paper we develop a time series model to evaluate the sales patterns with stockpiling and short-term suppression of demand and also propose a forecasting procedure. For estimation, we use panel data and extend the model to Bayesian hierarchical structure. By borrowing strength across cross-sectional units, this estimation scheme gives more robust and reasonable result than one from the individual estimation. Furthermore, the proposed scheme yields improved predictive power in the forecasting of hold-out sample periods.

• STI Policy Review
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• v.6 no.1
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• pp.1-23
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• 2015

Based on the work of Anand et al. (2013) we measure inclusive income growth, which combines growth in gross domestic product (GDP) per capita and growth in the equity of the income distribution. Extending the work of Causa et al. (2014), we estimate a dynamic simultaneous structural equations model of GDP per capita and inclusive income on panel data for 63 countries over the 1990-2013 period. We estimate both equations in error correction form by difference GMM (generalized method of moments). Among the explanatory variables of the level and the distribution of GDP per capita we include R&D (research and development) expenditure per capita. In OECD countries we obtain a large positive effect of R&D on GDP. R&D is found to have a positive effect on the social mobility index but its impact on the income equity index at first decreases, then switches around to become slightly positive in the long run. In non- OECD countries, R&D is found to decrease inclusive income, mostly through a negative growth effect but also because of a slightly increasing income inequity effect.

• Journal of Distribution Science
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• v.17 no.3
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• pp.85-95
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• 2019

Purpose - The existing marketing studies using Social Network Analysis have assumed that network structure variables are time-invariant. However, a node's network position can fluctuate considerably over time and the node's network structure can be changed dynamically. Hence, if such a dynamic structural network characteristics are not specified for virtual goods purchase model, estimated parameters can be biased. In this paper, by comparing a time-invariant network structure specification model(base model) and time-varying network specification model(proposed model), the authors intend to prove whether the proposed model is superior to the base model. In addition, the authors also intend to investigate whether coefficients of network structure variables are random over time. Research design, data, and methodology - The data of this study are obtained from a Korean social network provider. The authors construct a monthly panel data by calculating the raw data. To fit the panel data, the authors derive random effects panel tobit model and multi-level mixed effects model. Results - First, the proposed model is better than that of the base model in terms of performance. Second, except for constraint, multi-level mixed effects models with random coefficient of every network structure variable(in-degree, out-degree, in-closeness centrality, out-closeness centrality, clustering coefficient) perform better than not random coefficient specification model. Conclusion - The size and importance of virtual goods market has been dramatically increasing. Notwithstanding such a strategic importance of virtual goods, there is little research on social influential factors which impact the intention of virtual good purchase. Even studies which investigated social influence factors have assumed that social network structure variables are time-invariant. However, the authors show that network structure variables are time-variant and coefficients of network structure variables are random over time. Thus, virtual goods purchase model with dynamic network structure variables performs better than that with static network structure model. Hence, if marketing practitioners intend to use social influences to sell virtual goods in social media, they had better consider time-varying social influences of network members. In addition, this study can be also differentiated from other related researches using survey data in that this study deals with actual field data.

• Asia-Pacific Journal of Business
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• v.15 no.3
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• pp.417-430
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• 2024

Purpose - This paper investigates the asymmetric capital structure adjustment toward target leverage. Our study consistently estimates heterogeneous speeds of adjustment in different regimes reflecting heterogeneity in firm characteristics. Design/methodology/approach - We collect balanced panel data on Korean listed firms over the period 2005 - 2023. In order to capture non-linearities in the speed of capital structure adjustments, this paper employs the dynamic panel threshold model that allows endogeneity in regressors and threshold variables. Findings - Using firm characteristics as proxies for adjustment costs of deviation from and adjustment to target leverage, we find asymmetric effects on the speed of capital structure adjustments. Firms of large size, with high profitability, with large cash flow and with large investment adjust capital structure faster than those with the opposite characteristics. On the other hand, firms with high growth opportunities and with high risk move slowly toward the target leverage. Research implications or Originality - This paper provides new evidence of cross-sectional asymmetries in capital structure adjustments, which calls for cautions in sample-splitting in an arbitrary manner.