• Korean Journal of Agricultural and Forest Meteorology
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• v.23 no.4
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• pp.172-175
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• 2021

• Journal of Korea Port Economic Association
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• v.29 no.1
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• pp.67-76
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• 2013

It has been more than four years since the outbreak of global financial crisis. However, the world economy continues to be challenged with new crisis such as the European debt crisis and the fiscal cliff issue of the U.S. The global economic environment remains fragile and prone to further disappointment, although the balance of risks is now less skewed to the downside than it has been in recent years. It's no wonder that maritime business will be bearish since the global business affects the maritime business directly as well as indirectly. This paper, hence, aims to predict the Baltic Dry Index representing the shipping business using the ARIMA-type models and Hodrick-Prescott filtering technique. The monthly data cover the period January 2000 through January 2013. The out-of-sample forecasting performance is measured by three summary statistics: root mean squared percent error, mean absolute percent error and mean percent error. These forecasting performances are also compared with those of the random walk model. This study shows that the ARIMA models including Intervention-ARIMA have lower rmse than random walk model. This means that it's appropriate to forecast BDI using the ARIMA models. This paper predicts that the shipping market will be more bearish in 2013 than the year 2012. These pessimistic ex-ante forecasts are supported by the Hodrick-Prescott filtering technique.

• Journal of the Korea Convergence Society
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• v.10 no.12
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• pp.299-305
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• 2019

This study analyzed the relationship between the debt ratios of Korean and Japanese manufacturing firms with accruals and actual earnings managements after the global financial crisis. This study was conducted on Korean and Japanese firms from 2008 to 2015. As a result, the Korean firms, the higher (lower) debt ratio is, more up(down)side earnings management using discretionary accruals and operating cash flow. In contrast, the Japanese firms found that the higher(lower) the debt ratio is, more up(down)side through its actual activities (operating cash flows, manufacturing costs, discretionary costs) rather than accruals. This study establishes the academic basis for the decision-making of Korean-Japanese firmss by using the sample of each country to check what kind of decision-makers are making earnings managements at the present time when the relationship between Korea and Japan has suffered due to export restrictions. It is meaningful in that it was.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.12 no.7
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• pp.3053-3061
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• 2011

This study examines the relationship between R&D(research & development) investment and market value among KOSDAQ firms in the Korea Stock Exchange. We investigate the effect of R&D investment on firm value in both total sample and sub-samples classified by firm characteristics based on types of firms. And we study the impact of a major economic disruption as the global financial crisis triggered by sub-prime mortgage problem in the US on R&D investment relative to the firm value. We find that R&D investment positively affects firm value and the squared term of R&D investment is found to be significant and negatively correlated with market value. This suggests the presence of nonlinear relationship like a reverse U-shape between R&D investment and market value in total sample and most of sub-samples. And we find firm characteristics and global financial crisis partially affect the contribution of R&D investment to market value in some of sub-samples.

• Economic Analysis
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• v.17 no.2
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• pp.27-55
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• 2011

Although many theoretical studies have tried to explain the volatility in financial markets using models of herd behavior, there have been few empirical studies on dynamic herding due to the technical difficulty of detecting herd behavior with time-series data. Thus, this paper theoretically extends a continuous beliefs system belonging to an agent based economic model by introducing a term representing agents'mutual dependence into each agent's utility function and derives a SV(stochastic volatility)-type econometric model. From this model the time-varying herding parameters are efficiently estimated by a Markov chain Monte Carlo method. Using monthly data of KOSPI and DOW, this paper provides some empirical evidences for stronger herding in the Korean stock market than in the U.S. stock market, and further stronger herding after the global financial crisis than before it. More interesting finding is that time-varying herd behavior has weak autocorrelation and the global financial crisis may increase its volatility significantly.

• Korean Journal of Soil Science and Fertilizer
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• v.45 no.3
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• pp.410-420
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• 2012

The heavy reliance on fossil fuels, especially oil and gas has triggered the global energy crisis. Continued use of petroleum fuels is now widely recognized as unsustainable because of their depleting supplies and degradation to the environment. To become less dependent on fossil fuels, current world is shifting paradigm in energy by developing alternative energy sources mainly through the utilization of renewable energy sources. In particular, bioenergy recovery from wastes with the help of microorganism is viewed as one of the promising ways to mitigate the current global warming crisis as well as to supply global energy. It has been proved that microorganism can generate power by converting organic matter into electricity using microbial fuel cells (MFCs). MFC is a bioelectrochemical device that employs microbes to generate electricity from bio-convertible substrate such as wastewaters including municipal solid waste, industrial, agriculture wastes, and sewage. Sustainability, carbon neutral and generation of renewable energy are some of the major features of MFCs. However, the MFC technology is confronted with a number of issues and challenges such as low power production, high electrode material cost and so on. This paper reviews the recent developments in MFC technology with due consideration of electrode materials used in MFCs. In addition, application of biocathodes in MFCs has been discussed.

• The Journal of Industrial Distribution & Business
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• v.10 no.11
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• pp.15-23
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• 2019

Purpose: Global economic integration has provided good opportunities and conditions for the development of foreign direct investment in Finances. Therefore, this paper attempts to explore what determines foreign direct investment in Finances of Organization for Economic Co-operation and Development (OECD) countries. Research design, data and methodology: This paper employs the panel data over the period 2005-2017 and uses the random effect model to estimate this proposition. Results: The results indicate that the foreign direct investment in services, growth rate of GDP, interest rate and saving are positively related with foreign direct investment in finances. Conversely, the growth rate of wage and fluctuation rate of exchange rate are negatively related with foreign direct investment in finances. Moreover, the results verify that the effect of these variables on foreign direct investment in finances is different before and after 2008 (global economic crisis). In addition, the results also manifest that the regional effect exists. Namely, the effect of these variables on foreign direct investment in finances between G7 countries and G20 countries exist significant difference. Conclusions: Those variables used in this paper are related with foreign direct investment in Finances of (OECD) countries.

• International Area Studies Review
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• v.20 no.1
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• pp.79-104
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• 2016

This paper investigates the impact and behavior of foreign equity investment in Asian emerging economies during the 2007-2008 and the 2010-2012 global financial crises in terms of volatility and return. The empirical results indicate that foreign investors show positive feedback trading behavior in the sample countries. We find evidence that foreign investors' net selling behavior significantly increases market volatility in most countries.

• Clinical Endoscopy
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• v.56 no.3
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• pp.263-267
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• 2023

Climate change is a global emergency. Consequently, current global targets to combat the climate crisis include reaching net-zero carbon emissions by 2050 and keeping global temperature increases below 1.5 ℃. In 2014, the healthcare carbon footprint was 5.5% of the total national footprint. Gastrointestinal endoscopy (GIE) has a large carbon footprint compared to other procedures performed in healthcare facilities. GIE was identified as the third largest generator of medical waste in healthcare facilities for the following reasons: (1) GIE is associated with high case volumes, (2) GIE patients and relatives travel frequently, (3) GIE involves the use of many nonrenewable wastes, (4) single-use devices are used during GIE, and (5) GIE is frequently reprocessed. Immediate actions to reduce the environmental impact of GIE include: (1) adhering to guidelines, (2) implementing audit strategies to determine the appropriateness of GIE, (3) avoiding unnecessary procedures, (4) using medication rationally, (4) digitalization, (5) telemedicine, (6) critical pathways, (7) outpatient procedures, (8) adequate waste management, and (9) minimizing single-use devices. In addition, sustainable infrastructure for endoscopy units, using renewable energy, and 3R (reduce, reuse, and recycle) programs are necessary to reduce the impact of GIE on the climate crisis. Consequently, healthcare providers need to work together to achieve a more sustainable future. Therefore, strategies must be implemented to achieve net-zero carbon emissions in the healthcare field, especially from GIE, by 2050.

• East Asian Economic Review
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• v.16 no.1
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• pp.3-23
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• 2012

The recent global financial crisis has highlighted the importance of international monetary and financial system reform. The current system is deemed to be no longer adequate to meet the needs of a complex, integrated world economy. With regards to the reform of the international monetary system, there have been various proposals both in demand and supply sides. These include proposals to build a stronger global financial safety net, to diversify the supply of international reserve currency and so on. These proposals face trade-offs between desirability and political feasibility. Given this situation, a practical transition would be to strengthen policy coordination among the major economies and to reform the International Monetary Fund. The success on both fronts depends heavily on global economic governance reform and the role of the G20. Increased status and representation of Asian countries in the G20 give both privileges and responsibilities to Asians. To meet these responsibilities, Asians should put forth greater efforts to develop their intellectual leadership in global economic issues through creating new forum and institutions.