• International Area Studies Review
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• v.20 no.3
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• pp.45-80
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• 2016

This paper examined, using three indicators, urban area rate, urbanization rate and urban population density upon the status of urbanization since the 2000s in Southeast Asia. This study also carried out an empirical analysis on the effects of urbanization on economic growth using the Williamson's inverted U-shape hypothesis. In addition, this study calculated the thresholds by which urbanization starts to have positive effects on economic growth by using estimated coefficients, and comparatively analyzed each Southeast Asian country's status. The empirical analysis results opposite to the Williamson's hypothesis. This means that the hypothesis asserting that urbanization has positive effects on economic growth in a country with low economic development phase and income level, but that urbanization can have negative effects on economic growth, if a country's income level is beyond a certain level(threshold), is not supported in this study. In summary, the economies of agglomeration represented as localization economy and urbanization economy is realized to some degree in terms of urbanization in Southeast Asia. Also, urbanization in Southeast Asia has positive effects on economic growth through knowledge spillover, the active exchange of ideas and productivity improvement. In examining the meaning of Southeast Asia's urbanization, policy consideration needs to be conducted, and efforts should be made to maximize the positive effects of the economies of agglomeration and knowledge spillover on economic growth.

• The Journal of Korean Philosophical History
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• no.38
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• pp.303-328
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• 2013

The purpose of the present article is to understand moral instruction through Ethics written by Spinoza and enable the implications drawn from its understanding to give shape to lesson plans. In his representative book titled Ethics, Spinoza speculates ultimate substance from the metaphysical perspective and converges it into ethics. The ultimate substance, which is a cause of itself, refers to immanent cause of all things that have numerous attributes as essence. All things in nature develop the substance and exchange influence among individuals at the same time. A human in the influential relationship perceives things based on one's beneficialness and assigns moral words of good and evil. However, a human, who is a mode of substance, should escape from morals that are superficial, relative, and objective, in order to realize nature. Becoming a more complete human requires going through moral imagination in reality but going beyond the imagination ultimately. Moral instruction premises the moral imagination of a student who exists as a mode; meanwhile, it is a study to escape from the influence of moral imagination. Good and evil arise from the limitation that an existing human has, but if a life is to preserve the necessity of ultimate substance, moral instruction can be defined as the processes of alleviating the influence that hinders a human's nature from being realized. Giving shape to this processes with the basis on the Spinoza's epistemic argument, moral instructional texts can be composed of stages to form more adequate moral ideas about moral subjects gradually and cumulatively. The moral instruction like this expects moral awareness which is relatively perfect than the present moral imagination. Furthermore, with the teaching and learning like this sustained, it is expected that ultimately the limitation arising from sensible perception can be overcome to approach the realization of a human's nature.

• Journal of the Korean earth science society
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• v.32 no.4
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• pp.422-434
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• 2011

The purpose of this research is to investigate the actual conditions of primary school science teaching and ways to improve it. In elementary science teaching, teachers themselves tend to have science misconceptions and insufficient science content knowledge. Experienced teachers argued that it could be hard for elementary teachers with lack of science content knowledge to provide their students with meaningful learning experiences of science. Based on the general characteristics of elementary teaching and the awareness of elementary teachers' insufficient science content knowledge, we explored the real situation of the elementary science classroom. We conducted open-ended interviews with teachers and focus group discussions on a regular basis to analyze and compare classes of five primary school teachers. Data analysis focused on why elementary students avoid science classes in upper grades of elementary school and why elementary science classes always need hands-on activities. We also discussed ways to turn hands-on investigation into minds-on investigation by connecting it to important ideas in science. Based on the results, we suggested ways to improve inservice teacher training such as designing supplementary in-service training focused on content knowledge for primary school teachers, setting up professional exchange or collaboration between primary and secondary teachers, and introducing subject-specialized teachers for the fifth and sixth graders of primary school. In particular, considering elementary teachers' insufficient science content knowledge, employing science subject matter specialists in the elementary school could be a useful strategy.

• Journal of Korea Entertainment Industry Association
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• v.15 no.3
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• pp.89-99
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• 2021

A brand community refers to a group of people who have a passion and loyalty for the brand, and is attracting attention as an effective marketing strategy to increase brand equity because it actively tends to support and promote the brand without expecting compensation. The objective of this study is to identify factors that are needed for sustainable brand community management. Existing studies on brand community management have mainly been conducted by quantitative methods measuring consumer satisfaction and dissatisfaction towards brand community activities, however, this study applied qualitative methods using means-end chains and laddering approaches in order to deeply identify a consumer's desired value on brand community activities. An in-depth interview of 41 members of BTS ARMY, a representative example of brand community, has been conducted and analyzed. The result of this study is as follows. In order to encourage active brand community activities, it is important to provide brand community members with a variety of high-quality brand-related content for a unique aesthetic experience, and a forum where all members can interact and exchange information and ideas to enhance brand value and experience. Finally, to nurture a strong brand community as a partner to co-create brand equity, rather than just a fan community, it is needed to build an environment that fosters opportunities for brand community members to increase self-respect and fulfillment through their brand community activities.

• Asia pacific journal of information systems
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• v.19 no.2
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• pp.139-155
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• 2009

For the last few decades, many studies have tried to explore and unveil venture companies' success factors and unique features in order to identify the sources of such companies' competitive advantages over their rivals. Such venture companies have shown tendency to give high returns for investors generally making the best use of information technology. For this reason, many venture companies are keen on attracting avid investors' attention. Investors generally make their investment decisions by carefully examining the evaluation criteria of the alternatives. To them, credit rating information provided by international rating agencies, such as Standard and Poor's, Moody's and Fitch is crucial source as to such pivotal concerns as companies stability, growth, and risk status. But these types of information are generated only for the companies issuing corporate bonds, not venture companies. Therefore, this study proposes a method for evaluating venture businesses by presenting our recent empirical results using financial data of Korean venture companies listed on KOSDAQ in Korea exchange. In addition, this paper used multi-class SVM for the prediction of DEA-based efficiency rating for venture businesses, which was derived from our proposed method. Our approach sheds light on ways to locate efficient companies generating high level of profits. Above all, in determining effective ways to evaluate a venture firm's efficiency, it is important to understand the major contributing factors of such efficiency. Therefore, this paper is constructed on the basis of following two ideas to classify which companies are more efficient venture companies: i) making DEA based multi-class rating for sample companies and ii) developing multi-class SVM-based efficiency prediction model for classifying all companies. First, the Data Envelopment Analysis(DEA) is a non-parametric multiple input-output efficiency technique that measures the relative efficiency of decision making units(DMUs) using a linear programming based model. It is non-parametric because it requires no assumption on the shape or parameters of the underlying production function. DEA has been already widely applied for evaluating the relative efficiency of DMUs. Recently, a number of DEA based studies have evaluated the efficiency of various types of companies, such as internet companies and venture companies. It has been also applied to corporate credit ratings. In this study we utilized DEA for sorting venture companies by efficiency based ratings. The Support Vector Machine(SVM), on the other hand, is a popular technique for solving data classification problems. In this paper, we employed SVM to classify the efficiency ratings in IT venture companies according to the results of DEA. The SVM method was first developed by Vapnik (1995). As one of many machine learning techniques, SVM is based on a statistical theory. Thus far, the method has shown good performances especially in generalizing capacity in classification tasks, resulting in numerous applications in many areas of business, SVM is basically the algorithm that finds the maximum margin hyperplane, which is the maximum separation between classes. According to this method, support vectors are the closest to the maximum margin hyperplane. If it is impossible to classify, we can use the kernel function. In the case of nonlinear class boundaries, we can transform the inputs into a high-dimensional feature space, This is the original input space and is mapped into a high-dimensional dot-product space. Many studies applied SVM to the prediction of bankruptcy, the forecast a financial time series, and the problem of estimating credit rating, In this study we employed SVM for developing data mining-based efficiency prediction model. We used the Gaussian radial function as a kernel function of SVM. In multi-class SVM, we adopted one-against-one approach between binary classification method and two all-together methods, proposed by Weston and Watkins(1999) and Crammer and Singer(2000), respectively. In this research, we used corporate information of 154 companies listed on KOSDAQ market in Korea exchange. We obtained companies' financial information of 2005 from the KIS(Korea Information Service, Inc.). Using this data, we made multi-class rating with DEA efficiency and built multi-class prediction model based data mining. Among three manners of multi-classification, the hit ratio of the Weston and Watkins method is the best in the test data set. In multi classification problems as efficiency ratings of venture business, it is very useful for investors to know the class with errors, one class difference, when it is difficult to find out the accurate class in the actual market. So we presented accuracy results within 1-class errors, and the Weston and Watkins method showed 85.7% accuracy in our test samples. We conclude that the DEA based multi-class approach in venture business generates more information than the binary classification problem, notwithstanding its efficiency level. We believe this model can help investors in decision making as it provides a reliably tool to evaluate venture companies in the financial domain. For the future research, we perceive the need to enhance such areas as the variable selection process, the parameter selection of kernel function, the generalization, and the sample size of multi-class.

• Journal of Global Scholars of Marketing Science
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• v.20 no.3
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• pp.262-268
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• 2010

Virtual communities (VCs) have developed rapidly, with more and more people participating in them to exchange information and opinions. A virtual community is a group of people who may or may not meet one another face to face, and who exchange words and ideas through the mediation of computer bulletin boards and networks. A business-to-consumer virtual community (B2CVC) is a commercial group that creates a trustworthy environment intended to motivate consumers to be more willing to buy from an online store. B2CVCs create a social atmosphere through information contribution such as recommendations, reviews, and ratings of buyers and sellers. Although the importance of B2CVCs has been recognized, few studies have been conducted to examine members' word-of-mouth behavior within these communities. This study proposes a model of involvement, statistics, trust, "stickiness," and word-of-mouth in a B2CVC and explores the relationships among these elements based on empirical data. The objectives are threefold: (i) to empirically test a B2CVC model that integrates measures of beliefs, attitudes, and behaviors; (ii) to better understand the nature of these relationships, specifically through word-of-mouth as a measure of revenue generation; and (iii) to better understand the role of stickiness of B2CVC in CRM marketing. The model incorporates three key elements concerning community members: (i) their beliefs, measured in terms of their involvement assessment; (ii) their attitudes, measured in terms of their satisfaction and trust; and, (iii) their behavior, measured in terms of site stickiness and their word-of-mouth. Involvement is considered the motivation for consumers to participate in a virtual community. For B2CVC members, information searching and posting have been proposed as the main purpose for their involvement. Satisfaction has been reviewed as an important indicator of a member's overall community evaluation, and conceptualized by different levels of member interactions with their VC. The formation and expansion of a VC depends on the willingness of members to share information and services. Researchers have found that trust is a core component facilitating the anonymous interaction in VCs and e-commerce, and therefore trust-building in VCs has been a common research topic. It is clear that the success of a B2CVC depends on the stickiness of its members to enhance purchasing potential. Opinions communicated and information exchanged between members may represent a type of written word-of-mouth. Therefore, word-of-mouth is one of the primary factors driving the diffusion of B2CVCs across the Internet. Figure 1 presents the research model and hypotheses. The model was tested through the implementation of an online survey of CTrip Travel VC members. A total of 243 collected questionnaires was reduced to 204 usable questionnaires through an empirical process of data cleaning. The study's hypotheses examined the extent to which involvement, satisfaction, and trust influence B2CVC stickiness and members' word-of-mouth. Structural Equation Modeling tested the hypotheses in the analysis, and the structural model fit indices were within accepted thresholds: ${\chi}^2^$/df was 2.76, NFI was .904, IFI was .931, CFI was .930, and RMSEA was .017. Results indicated that involvement has a significant influence on satisfaction (p<0.001, ${\beta}$=0.809). The proportion of variance in satisfaction explained by members' involvement was over half (adjusted $R^2$=0.654), reflecting a strong association. The effect of involvement on trust was also statistically significant (p<0.001, ${\beta}$=0.751), with 57 percent of the variance in trust explained by involvement (adjusted $R^2$=0.563). When the construct "stickiness" was treated as a dependent variable, the proportion of variance explained by the variables of trust and satisfaction was relatively low (adjusted $R^2$=0.331). Satisfaction did have a significant influence on stickiness, with ${\beta}$=0.514. However, unexpectedly, the influence of trust was not even significant (p=0.231, t=1.197), rejecting that proposed hypothesis. The importance of stickiness in the model was more significant because of its effect on e-WOM with ${\beta}$=0.920 (p<0.001). Here, the measures of Stickiness explain over eighty of the variance in e-WOM (Adjusted $R^2$=0.846). Overall, the results of the study supported the hypothesized relationships between members' involvement in a B2CVC and their satisfaction with and trust of it. However, trust, as a traditional measure in behavioral models, has no significant influence on stickiness in the B2CVC environment. This study contributes to the growing body of literature on B2CVCs, specifically addressing gaps in the academic research by integrating measures of beliefs, attitudes, and behaviors in one model. The results provide additional insights to behavioral factors in a B2CVC environment, helping to sort out relationships between traditional measures and relatively new measures. For practitioners, the identification of factors, such as member involvement, that strongly influence B2CVC member satisfaction can help focus technological resources in key areas. Global e-marketers can develop marketing strategies directly targeting B2CVC members. In the global tourism business, they can target Chinese members of a B2CVC by providing special discounts for active community members or developing early adopter programs to encourage stickiness in the community. Future studies are called for, and more sophisticated modeling, to expand the measurement of B2CVC member behavior and to conduct experiments across industries, communities, and cultures.

• Asia pacific journal of information systems
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• v.19 no.2
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• pp.43-72
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• 2009

Recently, user-created content (UCC) have emerged as popular medium of on-line participation among users. The Internet environment has been constantly evolving, attracting active participation and information sharing among common users. This tendency is a significant deviation from the earlier Internet use as an one-way information channel through which users passively received information or contents from contents providers. Thanks to UCCs online users can now more freely generate and exchange contents; therefore, identifying the critical factors that affect content-generating activities has increasingly become an important issue. This paper proposes a set of critical factors for stimulating contents generation and sharing activities by Internet users. These factors were derived from the theories of folklores such as tales and songs. Based on some shared traits of folklores and UCC content, we found four critical elements which should be heeded in constructing UCC contents, which are: context of culture, context of situation, skill of generator, and response of audience. In addition, we selected three major UCC websites: a specialized contents portal, a general internet portal, and an official contents service site, They have different use environments, user interfaces, and service policies, To identify critical factors for generating, sharing and transferring UCC, we traced user activities, interactions and flows of content in the three UCC websites. Moreover, we conducted extensive interviews with users and operators as well as policy makers in each site. Based on qualitative and quantitative analyses of the data, this research identifies nine critical factors that facilitate contents generation and sharing activities among users. In the context of culture, we suggest voluntary community norms, proactive use of copyrights, strong user relationships, and a fair monetary reward system as critical elements in facilitating the process of contents generation and sharing activities. Norms which were established by users themselves regulate user behavior and influence content format. Strong relationships of users stimulate content generation activities by enhancing collaborative content generation. Particularly, users generate contents through collaboration with others, based on their enhanced relationship and specialized skills. They send and receive contents by leaving messages on website or blogs, using instant messenger or SMS. It is an interesting and important phenomenon, because the quality of contents can be constantly improved and revised, depending on the specialized abilities of those engaged in a particular content. In this process, the reward system is an essential driving factor. Yet, monetary reward should be considered only after some fair criterion is established. In terms of the context of the situation, the quality of contents uploading system was proposed to have strong influence on the content generating activities. Among other influential factors on contents generation activities are generators' specialized skills and involvement of the users were proposed. In addition, the audience response, especially effective development of shared interests as well as feedback, was suggested to have significant influence on contents generation activities. Content generators usually reflect the shared interest of others. Shared interest is a distinct characteristic of UCC and observed in all the three websites, in which common interest is formed by the "threads" embedded with content. Through such threads of information and contents users discuss and share ideas while continuously extending and updating shared contents in the process. Evidently, UCC is a new paradigm representing the next generation of the Internet. In order to fully utilize this innovative paradigm, we need to understand how users take advantage of this medium in generating contents, and what affects their content generation activities. Based on these findings, UCC service providers should design their websites as common playground where users freely interact and share their common interests. As such this paper makes an important first step to gaining better understand about this new communication paradigm created by UCC.

• Asia pacific journal of information systems
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• v.24 no.2
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• pp.233-253
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• 2014

Can the stock market really be predicted? Stock market prediction has attracted much attention from many fields including business, economics, statistics, and mathematics. Early research on stock market prediction was based on random walk theory (RWT) and the efficient market hypothesis (EMH). According to the EMH, stock market are largely driven by new information rather than present and past prices. Since it is unpredictable, stock market will follow a random walk. Even though these theories, Schumaker [2010] asserted that people keep trying to predict the stock market by using artificial intelligence, statistical estimates, and mathematical models. Mathematical approaches include Percolation Methods, Log-Periodic Oscillations and Wavelet Transforms to model future prices. Examples of artificial intelligence approaches that deals with optimization and machine learning are Genetic Algorithms, Support Vector Machines (SVM) and Neural Networks. Statistical approaches typically predicts the future by using past stock market data. Recently, financial engineers have started to predict the stock prices movement pattern by using the SNS data. SNS is the place where peoples opinions and ideas are freely flow and affect others' beliefs on certain things. Through word-of-mouth in SNS, people share product usage experiences, subjective feelings, and commonly accompanying sentiment or mood with others. An increasing number of empirical analyses of sentiment and mood are based on textual collections of public user generated data on the web. The Opinion mining is one domain of the data mining fields extracting public opinions exposed in SNS by utilizing data mining. There have been many studies on the issues of opinion mining from Web sources such as product reviews, forum posts and blogs. In relation to this literatures, we are trying to understand the effects of SNS exposures of firms on stock prices in Korea. Similarly to Bollen et al. [2011], we empirically analyze the impact of SNS exposures on stock return rates. We use Social Metrics by Daum Soft, an SNS big data analysis company in Korea. Social Metrics provides trends and public opinions in Twitter and blogs by using natural language process and analysis tools. It collects the sentences circulated in the Twitter in real time, and breaks down these sentences into the word units and then extracts keywords. In this study, we classify firms' exposures in SNS into two groups: positive and negative. To test the correlation and causation relationship between SNS exposures and stock price returns, we first collect 252 firms' stock prices and KRX100 index in the Korea Stock Exchange (KRX) from May 25, 2012 to September 1, 2012. We also gather the public attitudes (positive, negative) about these firms from Social Metrics over the same period of time. We conduct regression analysis between stock prices and the number of SNS exposures. Having checked the correlation between the two variables, we perform Granger causality test to see the causation direction between the two variables. The research result is that the number of total SNS exposures is positively related with stock market returns. The number of positive mentions of has also positive relationship with stock market returns. Contrarily, the number of negative mentions has negative relationship with stock market returns, but this relationship is statistically not significant. This means that the impact of positive mentions is statistically bigger than the impact of negative mentions. We also investigate whether the impacts are moderated by industry type and firm's size. We find that the SNS exposures impacts are bigger for IT firms than for non-IT firms, and bigger for small sized firms than for large sized firms. The results of Granger causality test shows change of stock price return is caused by SNS exposures, while the causation of the other way round is not significant. Therefore the correlation relationship between SNS exposures and stock prices has uni-direction causality. The more a firm is exposed in SNS, the more is the stock price likely to increase, while stock price changes may not cause more SNS mentions.

• 대한공업교육학회지
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• v.42 no.2
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• pp.108-122
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• 2017

This research paper is to examine James Watt who led the 1st industrial revolution successfully. His great work was called monumental achievement in the human history of civilization. Here, we looked over the Watts' educational environment during his infant, juvenile, and adolescence period and also, his learning attitude about his own field through literature review. The basic infra of soft and hard wares for the industrial revolution through the process of R & D on new developing steam engine resulted from the very industrial revolution and its R & D environment were to be investigated. The useful information and knowledge from this process of the research are able to give an appropriate educational guidance to bring up the development of creativity in schooling systems. And also a lesson from the past could be used to provide the desirable direction for the 4th industrial revolution which is just begun to start now. The main results from this study are as follows; First, Watts' parents positively guided him onto the technology of manual field because they recognized their son was interested in technology field. The parents' attitude stimulated and guided his sons' self-development, had been equal to the aims of education. Second, Watt made a chance of making friendships with professors of Glasgow University. He spontaneously had done self-directed learning for getting knowledge and technology, and thus he became an expert of practical engineer and theorist. Third, the Lunar society, which was jumping over one's social position in their society of the 18th century through new thinking way, leading new ages had been very good R & D social infra for Watt to open and connect new advanced level of science and technology in his age. This society provided a study environment fields for their members to exchange their ideas of scientific curiosity and freely inquiry, technology informations. They had discussed and understood the issues to be occurred in their own fields and accumulated necessary knowledge for problem-solving, respectively. Such as this R & D system environment will be also considered in the modern research group. Fourth, the entrepreneur such as Boulton, who understand technology and grasp its value in future, is needed. The system of 'grue of management' will support the researcher with financial support, which is necessary in R & D. And the researcher like Watt who takes pleasure in technology itself and study eagerly in his field without financial problems, that is, 'grue of technical expert' is essential when leading to success in the industrial revolution.