• Title/Summary/Keyword: Future Return

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Effect of corporate social contribution on corporate financial performance (기업의 사회공헌활동이 기업의 재무성과에 미치는 영향)

  • Oh, Deok Kyo;Cin, Beom Cheol;Lee, Eui Young
    • International Area Studies Review
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    • v.20 no.3
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    • pp.101-121
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    • 2016
  • This research is purposed to analyze the effect of firms' current socially responsible management on the future corporate financial performance with specified areas of socially responsible management according to the beneficiaries. Tobin's Q statistic and return on assets are calculated and exploited as measures of corporate financial performance. as of empirical analysis results, we found that the social contributions in the consumer area and external social contribution at time t influence the Tobin's Q statistic at time (t+1) in the aggregate analysis. as it is revealed that there is no effect in the firms with the outstanding social performance to the future corporate financial performance, we understand that the capital market is very sensitive to the external social contribution including consumers of firms with the weak social performance rather than the social contribution of socially outstanding firms. This sensitivity of capital market can effectively enhance the social contribution of firms, in particular listed firms with the weak social performance.

Cryptocurrency automatic trading research by using facebook deep learning algorithm (페이스북 딥러닝 알고리즘을 이용한 암호화폐 자동 매매 연구)

  • Hong, Sunghyuck
    • Journal of Digital Convergence
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    • v.19 no.11
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    • pp.359-364
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    • 2021
  • Recently, research on predictive systems using deep learning and machine learning of artificial intelligence is being actively conducted. Due to the development of artificial intelligence, the role of the investment manager is being replaced by artificial intelligence, and due to the higher rate of return than the investment manager, algorithmic trading using artificial intelligence is becoming more common. Algorithmic trading excludes human emotions and trades mechanically according to conditions, so it comes out higher than human trading yields when approached in the long term. The deep learning technique of artificial intelligence learns past time series data and predicts the future, so it learns like a human and can respond to changing strategies. In particular, the LSTM technique is used to predict the future by increasing the weight of recent data by remembering or forgetting part of past data. fbprophet, an artificial intelligence algorithm recently developed by Facebook, boasts high prediction accuracy and is used to predict stock prices and cryptocurrency prices. Therefore, this study intends to establish a sound investment culture by providing a new algorithm for automatic cryptocurrency trading by analyzing the actual value and difference using fbprophet and presenting conditions for accurate prediction.

The Effects of ESG Performance on the Relationship between Tax Risk and Cost of Capital: An Empirical Analysis of Korean Multinational Corporations

  • Jeong-Yeon Kang;Im-Hyeon Kim
    • Journal of Korea Trade
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    • v.27 no.1
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    • pp.1-18
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    • 2023
  • Purpose - Using a sample of Korean multinational corporations, we examine whether the relationship between tax risk and the implied cost of capital discriminates between the environmental, social, and corporate governance (ESG) of highly rated firms. Design/methodology - Firms with high tax risks have an increased uncertainty of future cash flows. Therefore, as the volatility of future cash flow increases, information asymmetry and the required return increases. Highly rated ESG firms can reduce information asymmetry, thereby weakening the positive relationship between tax risk and cost of capital. We employ the standard deviation of the cash effective tax rate as proxy of tax risk. We utilize the ESG rating data of the Korea Corporate Governance Service (KCGS). We use a PEG model, MPEG model, and GM model to measure the implied cost of capital. Findings - We find a positive association between the implied cost of capital and tax risk. The positive relationship between tax risk and the implied cost of capital weakens in highly rated ESG firms. Highly rated ESG firms prefer a stable tax position to invest after-tax cash flows into sustainable management. Therefore, the negative effects of tax risk on cost of capital can be reduced. Originality/value - This study provides empirical evidence that ESG activities can mitigate the negative impact of tax risk on the cost of capital for Korean multinational corporations. In a business environment where ESG activities are more important, the empirical results that ESG activities can reduce the corporate risk of Korean FDI companies are expected to provide implications for the ESG activities of multinational corporations.

A Study on the Perception of Asan Hot Springs Utilization Post-Corona Pandemic (코로나 팬데믹 이후의 아산 온천 이용 선호도에 관한 연구)

  • Jong-Min Woo
    • Journal of The Korean Society of Integrative Medicine
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    • v.11 no.4
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    • pp.189-198
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    • 2023
  • Purpose: This study aims to investigate the preferences of hot spring users regarding the utilization of Asan's hot springs after the COVID-19 pandemic. Methods: A survey was conducted on 340 hot spring users visiting hot spring resorts in the Onyang, Dogo, and Asan hot spring districts. The survey was conducted twice from November 5th to November 7th, 2021, and from May 25th to 26th, 2022. The survey included general questions, such as the frequency of hot spring usage, the purpose of visits, and the intention for future visits. Specific questions were related to Asan hot springs, focusing on the reasons for choosing Asan, its perceived advantages, and improvement suggestions. Results: The survey revealed that the average number of visits to hot springs was less than five in the past five years, and the main reason for visiting was to recover from fatigue. A percentage of respondents said they would use hot springs more often when the COVID-19 pandemic ends. When asked about their reasons for visiting Asan hot springs, responses varied by age. However, across all groups, the majority considered "good water" as an advantage of Asan hot springs, while improvements to "hot spring facilities" was the highest response among all age groups. Thus, despite the decline in the number of customers due to COVID-19, the overall perception of hot springs remains positive. This suggests a promising future for the hot spring industry, with the potential for a return to pre-pandemic usage levels. Conclusion: These results provide valuable foundational data for informing policy development aimed at revitalizing the hot spring industry in the post-COVID-19 era.

Evaluating the Usability of Size Comparison UI for Online Clothing Shopping Malls

  • Kim, Heesun
    • International Journal of Internet, Broadcasting and Communication
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    • v.12 no.4
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    • pp.61-70
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    • 2020
  • As mobile device usage time increases thanks to the development of information and communication alongside the increase in the spread of smartphones, mobile shopping has become a common trend. While mobile shopping has the advantage of saving both time and money, it may also result in dissatisfaction with product differences after purchase. For online clothing shopping malls, in particular, if the size does not match after purchase, it is difficult for customers to return or exchange the goods. To address this problem, some mobile apparel shipping malls offer a virtual fitting service and a size comparison function; however, the number of such malls remains low. In this paper, a usability evaluation was performed on a mobile apparel shopping mall that provides a size comparison function. The three apps selected for evaluation have different size input methods, and a slightly different method of providing results after comparing the user's dimensions with the dimensions of the clothes to be purchased. In this paper, the evaluators were asked to select clothes at the shopping mall and perform the task of deciding the size of the clothes to be purchased through their own measurements and comparison while also evaluating the effectiveness, meaning, and satisfaction of the apps. Based on the analysis of the results, this paper aims to produce an improvement plan and help design the size comparison UI (User Interface) in the future.

A Study on the Improvement of Rural Life-Long Education in Agricultural Technology & Extension Center;Focused on Yangju-Gun (농업기술센터에서의 농촌사회교육의 개선방안;경기도 양주군을 중심으로)

  • Kim, Su-Wook;Park, Sung-Rae;Kim, Min-Jung
    • Journal of Agricultural Extension & Community Development
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    • v.10 no.1
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    • pp.31-42
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    • 2003
  • The purposes of this study were (1) to identify the present situation and pending problems of agricultural education in Agricultural Technology & Extension Center (ATEC), (2) to analyze the satisfaction degree and educational needs of agricultural extension education program, and (3) to draw some implications in the direction of the development direction of agricultural extension, based on the analysis aforementioned. Data were collected through questionnaires from 230 farmers. Based on the results of study, the recommendations were as follows. 1. Increase of income could not guarantee the improvement of QOL. So, ATEC should make some efforts to plan and administer diversified agricultural extension and education programs. 2. Agricultural practice was the most effective educational methods. Especially, for return-migrants and young farmers, applicable educational program should be planned and offered. 3. Education program on agricultural information, especially on the internet use, would be the most attractive program of agricultural extension education in the future.

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Numerical analysis of reaction forces in blast resistant gates

  • Al-Rifaie, Hasan;Sumelka, Wojciech
    • Structural Engineering and Mechanics
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    • v.63 no.3
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    • pp.347-359
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    • 2017
  • Blast resistant gates are required to be lightweight and able to mitigate extreme loading effect. This may be achieved through innovative design of a gate and its supporting frame. The first is well covered in literature while the latter is often overlooked. The design of supporting frame depends mainly on the boundary conditions and corresponding reaction forces. The later states the novelty and the aim of this paper, namely, the analysis of reaction forces in supporting structure of rectangular steel gates subjected to "far-field explosions". Flat steel plate was used as simplified gate structure, since the focus was on reaction forces rather than behaviour of gate itself. The analyses include both static and dynamic cases using analytical and numerical methods to emphasize the difference between both approaches, and provide some practical hints for engineers. The comprehensive study of reaction forces presented here, cover four different boundary conditions and three length to width ratios. Moreover, the effect of explosive charge and stand-off distance on reaction forces was also covered. The analyses presented can be used for a future design of a possible "blast absorbing supporting frame" which will increase the absorbing properties of the gate. This in return, may lead to lighter and more operational blast resistant gates.

Critical Duration of Design Rainfall for the Design of Storm Sewer in Seoul (우수관거 설계를 위한 계획강우의 임계지속기간 -서울 지역을 중심으로-)

  • 이재준;이정식;전병호;이종태
    • Water for future
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    • v.26 no.2
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    • pp.49-57
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    • 1993
  • A hydrological method is performed to determine the critical duration of design rainfall for the design of storm sewer in Seoul. To seize the effect of the duration and the temporal distribution of the rainfall to the peak discharge of the storm sewer, the Huff's quartile method is used as a temporal pattern for the design rainfall of any durations (9 cases for 20-240 min.) with 10 years return period. The critical duration of design rainfall is determined as the duration which maximizes the peak discharge. This study is applied to 18 urban drainage systems in Seoul. The ILLUDAS model is applied to runoff analysis, and the result shows that the duration which maximizes peak discharge is 30, 60 minutes generally. The relation diagram between peak discharge for the critical duration and watershed area is prepared for the design of storm sewer.

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Determination of Design Waver along the West Coast of Korea (한국 서해안에서의 설계파의 결정)

  • 김태인;청형식
    • Water for future
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    • v.20 no.2
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    • pp.127-138
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    • 1987
  • For determination of the design wave, a method of estimating the design wind speed at sea from the wind records at the nearby weather stations on land is proposed. Along the West Coast, the design wind speed are shown to have two main directions; namely, N through W, and WSW through S. Through the analysis of weather maps, fetches for the main wind directions along the West Coast are determined. The wind speeds at sea are found to have 0.8~0.9 times the wind speed at the stations on land for U$\geq$20m/s. The West Coast may be divided into three regions for which fetches are determind uniquely. Design waves with return period of 100 years are determined by the revised S.M..B. method along the West Coast, and show the deep water significant wave heights of 4.4~8.3 meters with wave periods of 8.9~12.0 seconds.

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Enhancing Security in Mobile IPv6

  • Modares, Hero;Moravejosharieh, Amirhossein;Salleh, Rosli Bin;Lloret, Jaime
    • ETRI Journal
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    • v.36 no.1
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    • pp.51-61
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    • 2014
  • In the Mobile IPv6 (MIPv6) protocol, a mobile node (MN) is a mobile device with a permanent home address (HoA) on its home link. The MN will acquire a care-of address (CoA) when it roams into a foreign link. It then sends a binding update (BU) message to the home agent (HA) and the correspondent node (CN) to inform them of its current CoA so that future data packets destined for its HoA will be forwarded to the CoA. The BU message, however, is vulnerable to different types of security attacks, such as the man-in-the-middle attack, the session hijacking attack, and the denial-of-service attack. The current security protocols in MIPv6 are not able to effectively protect the BU message against these attacks. The private-key-based BU (PKBU) protocol is proposed in this research to overcome the shortcomings of some existing MIPv6 protocols. PKBU incorporates a method to assert the address ownership of the MN, thus allowing the CN to validate that the MN is not a malicious node. The results obtained show that it addresses the security requirements while being able to check the address ownership of the MN. PKBU also incorporates a method to verify the reachability of the MN.