• International Area Studies Review
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• v.14 no.1
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• pp.55-76
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• 2010

This paper analyses interaction between yen/dollar exchange rates and NIKKEI index using bivariate GJR-GARCH(1,1) model. The data employed for the study is daily data series for the period of Jan. 4, 1995 through Aug. 30, 2009. One of main findings is that market inefficiency appears in the periods of financial crisis. Second, the volatility of exchange rates and stock returns has more increased in the wake of the volatility shock of the previous period during financial crisis than during non-financial crisis. Third, interestingly, the asymmetric volatility shock by bad news in those markets is bigger in financial crisis period than in non financial crisis. Fourth, in the period of current global financial crisis triggered by subprime mortgage crisis in U.S, volatility shock at the previous period is bigger than that of Asian financial crisis that happened in 1997. Lastly, the correlation between both returns of exchange rates and stock prices turns up positive according to the empirical estimation. This result may come from the fact that Japanese stock market does not have much attraction for international financial investment compared to stock markets of neighbouring countries like China, Korea and so on, while real sector's contribution to the economy is considered more importantly.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.20 no.2
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• pp.153-159
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• 2019

Job creation is the most important issue in the labor market these days, and the quality of jobs is also very important in order to resolve the mismatches that are taking place in the labor market. Kim Young-min (2014) developed the "2012 Quality of Employment Index" with twenty indicators in seven categories, including employment opportunities, to objectively assess the local labor market. This method presents the concept of the aggregate indicator, 'Quality of Work Index', and has the advantage of being easy to produce. However, it is difficult to statistically verify the adequacy of the constitutive indicators and, based on this, make them a single aggregate index through statistical techniques. Therefore, we developed an alternative '2012 Descent Work Index' and a confidence interval using Principal Component Analysis(PCA) and Unobserved Component Model(UCM) presented by Gi-Choon Kang & Myung-jig Kim (2014) and also calculated an alternative '2017 Descent Work Index' using the first half of 2017 local area labour force survey and compared its changes by region. The results of the empirical analysis show that the rank correlation coefficient between two methods of aggregating indicators, simple weight used in Young-min Kim's research, PCA method and UCM used in this study, were found to be statistically significant under 5% significance level. This implies that all methods are found to be useful. However, the PCA and UCM which determine scientific and objective weights based on data are preferred to Young-min Kim's approach. Since it provides us not only the level of aggregate indicator but also its confidence intervals, it is possible to compare ranking with the consideration of statistical significance. Therefore, it is expected that the method of constructing an aggregating indicator using UCM will be widely used in many areas in the future.

• Journal of the Korea Convergence Society
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• v.9 no.11
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• pp.307-313
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• 2018

In this study, analyzed the effect of the introduction and operation of internal control system of a company on accounting information usefulness in a rapidly changing business environment. In order to conduct this study, we studied a comprehensive analysis on the usefulness of internal control and accounting information, and applied the research model to the purpose of this study. In this study, we analyzed the degree of the relationship between variables based on the discretionary accruals of the modified Jones model using the internal control evaluation index based on the components of the internal control system for China. In the empirical analysis, analyzed that the operation of internal control has a negative influence on discretionary accruals, which is a substitute for usability of accounting information. In addition, the risk management factors of the internal control system have a negative correlation with the usefulness of accounting information. The results of this study suggest that it is possible to present the positive function of internal control system to many firms where the introduction and operation of internal control is important, and to provide useful guidance in the study of the relationship between the operation of internal control and discretionary accruals for foreign company.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.20 no.6
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• pp.104-112
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• 2019

This study has empirically analyzed how far corporate governance and CSR(Corporate Social Responsibility) fit are related based on prior research indicating that corporate governance is one of the primary factors. Previous research suggested that there may be different types of CSR fit, but there have been only limited number of empirical studies. This study filled this gap by categorizing CSR fit into three types (functional fit, target fit, and size fit) and investigating whether different types have different effects. We used data from the Corporate Social Responsibility White Paper for the 2009-2012 period, as well as the Korea Corporate Governance Service (KCGS) index. As a result, we found that there is a negative (-) relationship between corporate governance and CSR fit(${\beta}=-.023$, p<.05). This can be interpreted that companies with weak corporate governance are attempting to increase the trust level of stakeholders and to reduce the uncertainty of CSR through high-CSR-fitted programs. The test results showed that functional fit and target fit both had negative (-) relationships with corporate governance (${\beta}=-.021$, p<.05; ${\beta}=-.016$, p<.1), while size fit did not have a significant correlation with corporate governance (${\beta}=-.005$, p=.511). The results of this study supported the previous studies' suggestions that CSR fit has different effects on each type, indicating a need for further reflection on the relationship between corporate governance and CSR fit. Also, the results of this study showed that corporations should take a strategic approach to operating CSR fit.

• Korean Journal of Materials Research
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• v.28 no.11
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• pp.663-670
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• 2018

H13 tool steels are widely used as metallic mold materials due to their high hardness and thermal stability. Recently, many studies are undertaken to satisfy the demands for manufacturing the complex shape of the mold using a 3D printing technique. It is reported that the mechanical properties of 3D printed materials are lower than those of commercial forged alloys owing to micropores. In this study, we investigate the effect of microstructures and defects on mechanical properties in the 3D printed H13 tool steels. H13 tool steel is fabricated using a selective laser melting(SLM) process with a scan speed of 200 mm/s and a layer thickness of $25{\mu}m$. Microstructures are observed and porosities are measured by optical and scanning electron microscopy in the X-, Y-, and Z-directions with various the build heights. Tiny keyhole type pores are observed with a porosity of 0.4 %, which shows the lowest porosity in the center region. The measured Vickers hardness is around 550 HV and the yield and tensile strength are 1400 and 1700 MPa, respectively. The tensile properties are predicted using two empirical equations through the measured values of the Vickers hardness. The prediction of tensile strength has high accuracy with the experimental data of the 3D printed H13 tool steel. The effects of porosities and unmelted powders on mechanical properties are also elucidated by the metallic fractography analysis to understand tensile and fracture behavior.

• Journal of the Korean GEO-environmental Society
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• v.20 no.2
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• pp.59-67
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• 2019

Using the results from laboratory soil test, field vane test and piezocone penetration test, the engineering characteristics of the soft ground at east side of Gwangyang Port, which is located at south coast of Jeollanam-do, were investigated and optimal piezocone penetration test depth was derived to calculate piezocone factor. In this paper, the results of 61 laboratory soil tests, 226 times of field vane tests and 26 piezocone penetration tests were used. The result of laboratory soil test suggested that some physical properties such as specific gravity, moisture content, liquid limit and plastic index and others are higher than other south coast regions, meanwhile uniaxial compression strength, undrained shear strength, defined as mechanical property, appeared to be relatively small, distributed widely. According to the plastic chart, the ground was classified as high compressibility clay and low compressibility clay, mostly represent to Type 3 clay by Robertson (1990)'s classification chart. Piezocone factor was calculated by empirical method, based on the undrained shear strength which was obtained by the field vane test. According to the analysis with 3 different depth range, to set the appropriate measured depth range of piezocone penetration for comparation, using average value of the range of 5 times the vane length showed the highest correlation.

• Korean Chemical Engineering Research
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• v.56 no.6
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• pp.841-855
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• 2018

The purpose of this study is to estimate the available potential heat source for heat pump in the district heating supply area in the city. Unused energy potentials were estimated and integrated based on open source based data. In particular, geographical spatial analysis of recoverable heat energy density and heat demand in the heat source area of large retailers and public sauna facilities in the DH network located in the southern part of the metropolitan area (Pyeongtaek-si) was conducted. As a result of the study, the DH network area had a total potential energy of 1,741.7 toe/year for the two heat sources of large retailers and public saunas. It is estimated that 1,006.9 toe/year, which is 57.8% of the total, can be linked to the district heating. The large retailers showed a positive correlation with the floor area and energy use of 0.4937. The recoverable energy intensity was estimated to be $0.0017toe/m^2$ per unit area and $0.0069tCO_2/m^2$ for greenhouse gas emissions. In addition, public saunas were analyzed by comparing the empirical case with the theoretical calculation, and it was estimated that energy conservation estimate of 80% was $0.0315toe/m^2$ per bath area and $0.1183tCO_2/m^2$ for greenhouse gas emissions. The total potential energy amount of this area was positively correlated with the heat demand of apartment house by administrative district, and it was confirmed that it had a relatively high potential energy especially in traffic and commercial center.

• International Area Studies Review
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• v.14 no.1
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• pp.221-254
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• 2010

This study is for analyzing the mgmt performances of Korean tourism firms, operating as preparing strategically against FTA, one of the most importantly external environment in int'l mgmt since in the mid of 1990s. The main purpose can be mentioned to test empirically some relations between the mgmt performances of Korean tourism ones and the economic effects originated from FTA. The dependent variables of mgmt performances are classified with sales, profits and mgmt satisfaction, while the independent one regarding with economic effects from FTA are sorted based on the previous studies with the 2 following factors like direct with inbound/outbound and indirect effects. This study is conducted in two stages. Firstly, the research model is designed by the reviewing relevant theories and previous studies. Secondly, the survey of Korean tourism firms engaging in mgmt activities is implemented by collecting questionnaires. And for testing the hypothesis, the analyzing tools are used for correlation, reliability, validity and multi-regression on SPSS 12.0 and the path analysis of structural equation modeling is activated with AMOS 11.0.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.14 no.1
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• pp.1-15
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• 2019

The purpose of this study is to analyze the relationship between entrepreneurship and entrepreneurial intention. This relationship has been conceptually addressed in many previous studies and has been empirically tested. However, this study is different from the previous studies in the following four points. First, we measured entrepreneurial intention by manipulating launching a start-up as a relative concept for employment, which is consistent with the conceptual definition of entrepreneurial intention (i.e. entrepreneurial decision making in the process of career choice). Second, it is distinguished from previous researches in that it uses the question of preference for "action" with regard to job choice. Third, we expanded the opportunity for discussion using the youth panel data of the Korea Employment Information Service. Fourth, the altruistic purpose is included in the category of entrepreneurship. Empirical results showed that intentions of entrepreneurship were stronger when the need for achievement was intense, internal control tendency was intended, risk-taking propensity was sturdy, and autonomous tendency was high. However, innovation and aggressiveness are not statistically related to entrepreneurial intention. On the other hand, the altruistic tendency was found to have a negative correlation with entrepreneurial intention. The results of this study can provide meaningful implications for both private sector investors and government policy makers.

• Journal of the Korean Society of Surveying, Geodesy, Photogrammetry and Cartography
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• v.36 no.6
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• pp.601-609
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• 2018

The Smart City Plan specifies that it should reflect the content of the Smart City Comprehensive Plan, which is the upper plan while presenting the basic direction, promotion strategy, service establishment and operation plans of a smart city construction project. However, there are not enough empirical studies on whether plan contents are systematically established according to smart city planning hierarchy. In this study, we are to use the social network analysis to find out the local government's smart city plan is actually highly connected to the Smart City Comprehensive Plan, a master plan at national level. To this end, we conducted a social network analysis on Gwangmyeong and Chuncheon, which were recently approved for smart city planning. First, 108 keywords were derived from the 2nd Smart City Comprehensive Plan, and the connectivity between these keywords and Smart City Planning was analyzed. The results of the social network analysis showed that the total connections of Smart City Planning in Gwangmyeong was 371, which was higher than 307 in Chuncheon, and the average degree of connection per keyword and network density were also higher in the Gwangmyeong Smart City Planning than the Chuncheon Smart City Planning. The results of the study showed that the Smart City Planning actually had a high connectivity with the Smart City Comprehensive Plan, and the keywords with high connection centrality were different for each local government. The result of this study can be used as a basis for judging whether there is a high correlation between plans.