• Title/Summary/Keyword: Information asymmetry

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Asymmetric Activation in the Prefrontal Cortex and Heart Rate Variability by Sound-induced Affects (음향감성에 의한 전전두엽의 비대칭성과 심박동변이도)

  • Jang Eun-Hye;Lee Ji-Hye;Lee Sang-Tae;Kim Wuon-Shik
    • Science of Emotion and Sensibility
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    • v.8 no.1
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    • pp.47-54
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    • 2005
  • This study is aimed to inspect how the different sensitivities in Behavioral activation system(BAS) and behavioral inhibition system(BIS) modulate on the properties of physiological responses stimulated by positive or negative affective sound. We measured the electroencephalogram(EEG) and electrocardiogram (ECG) of 32 students, consisted of four groups depending on the BAS and BIS sensitivities, during listening to meditation music or noise. The EEG was recorded at Fpl and Fp2 sites and Power spectral density(PSD) of HRV was derived from the ECG, and the power of HRV was calculated for 3 major frequency ranges(low frequency[LF], medium frequency and high frequency[HF]). After listening to music or noise, subjects reported the affect induced by the sound. For EEG, the power in the alpha band at Fp2, especially in the alpha-2 band(9.0-11.0 Hz) increased during the subjects listening to music, while the power at Fpl increased during noise. During listening to meditation music, there is a tendency that the left-sided activation in prefrontal cortex(PFC) is positively correlated with the difference of BAS(Z)-BIS(Z). During listening to noise, there is a tendency that the right-sided activation in PFC is dominant in case any of the sensitivity of BAS or BIS is high. For HRV, we found that the index of MF/(LF+HF), during listening to music, was higher significantly in the individuals with a low BIS but high BAS than in the individuals with a low sensitivity both BIS and BAS individuals. With high BIS, regardless of the BAS sensitivity, the difference of this index values was not significant. From these results we suggest that the physiological responses of different individuals in BAS and BIS react differently under the same emotionally provocative challenge.

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An Analysis of the Dynamics between Media Coverage and Stock Market on Digital New Deal Policy: Focusing on Companies Related to the Fourth Industrial Revolution (디지털 뉴딜 정책에 대한 언론 보도량과 주식 시장의 동태적 관계 분석: 4차산업혁명 관련 기업을 중심으로)

  • Sohn, Kwonsang;Kwon, Ohbyung
    • The Journal of Society for e-Business Studies
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    • v.26 no.3
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    • pp.33-53
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    • 2021
  • In the crossroads of social change caused by the spread of the Fourth Industrial Revolution and the prolonged COVID-19, the Korean government announced the Digital New Deal policy on July 14, 2020. The Digital New Deal policy's primary goal is to create new businesses by accelerating digital transformation in the public sector and industries around data, networks, and artificial intelligence technologies. However, in a rapidly changing social environment, information asymmetry of the future benefits of technology can cause differences in the public's ability to analyze the direction and effectiveness of policies, resulting in uncertainty about the practical effects of policies. On the other hand, the media leads the formation of discourse through communicators' role to disseminate government policies to the public and provides knowledge about specific issues through the news. In other words, as the media coverage of a particular policy increases, the issue concentration increases, which also affects public decision-making. Therefore, the purpose of this study is to verify the dynamic relationship between the media coverage and the stock market on the Korean government's digital New Deal policy using Granger causality, impulse response functions, and variance decomposition analysis. To this end, the daily stock turnover ratio, daily price-earnings ratio, and EWMA volatility of digital technology-based companies related to the digital new deal policy among KOSDAQ listed companies were set as variables. As a result, keyword search volume, daily stock turnover ratio, EWMA volatility have a bi-directional Granger causal relationship with media coverage. And an increase in media coverage has a high impact on keyword search volume on digital new deal policies. Also, the impulse response analysis on media coverage showed a sharp drop in EWMA volatility. The influence gradually increased over time and played a role in mitigating stock market volatility. Based on this study's findings, the amount of media coverage of digital new deals policy has a significant dynamic relationship with the stock market.

A Study of the Current State of the Garden and Restoration Proposal for the Original Garden of Yi Cheon-bo's Historic House in Gapyeong (가평 이천보(李天輔) 고가(古家)의 정원 현황과 원형 복원을 위한 제안)

  • Rho, Jaehyun;Choi, Seunghee;Jang, Hyeyoung
    • Korean Journal of Heritage: History & Science
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    • v.53 no.4
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    • pp.118-135
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    • 2020
  • It is not uncommon in Korea to see the structure and function of a garden remain intact as well as its form. Yi Cheon-bo's Historic House (Gyeonggi-do Cultural Heritage Item No. 55), located in Sang-myeon, Gapyeong-gun, Gyeonggi-do, is considered an example of very valuable garden heritage, although its family history, location, and remaining buildings and natural cultural assets are not fully intact. Along with Yi Cheon-bo's Historic House, this study attempted to explore the possibility of restoration of the forest houses and gardens by highlighting the high value of Yi Cheon-bo's Historic House through research into the typical layout of private households in northern Gyeonggi Province and Gapyeong County, comparative review of aerial photographs from 1954, and interviews with those involved. The results of the study are as follows: In this study, the presence of Banggye-dongmun and Bansukam in the Banggyecheon area, where the location of the garden was well-preserved, was examined across the landscape of the outer garden, while the location of Yi Cheon-bo's Historic House, the appearance of feng shui, and the viewing axis were considered. Also, the appearance of the lost main house was inferred from the arrangement and shape of the Sarangchae and Haengrangchae that remain in the original garden, and the asymmetry of the Sarangchae Numaru and the hapgak shape on the side of the roof. In addition, the three tablets (Pyeonaeks) of Sanggodang (尙古堂), Bangyejeongsa (磻溪精舍), and Okgyeongsanbang (玉聲山房) were used to infer the landscape, use, and symbolism of the men's quarters. Also, a survey was conducted on the trees that existed or existed in the high prices. Incidentally, it was confirmed that information on boards and cultural properties of Yeonha-ri juniper (Gyeonggi-do Monument No. 61) was recorded to a much lesser extent than the actual required standard, and the juniper trees remaining in the front of Haengrangchae should also be re-evaluated after speculation. On the other hand, as a result of estimating the original shape as a way of pursuing completeness of the garden through restoration of the lost women's quarters and shrine, it is estimated that the main house was placed in the form of a '口' or a 'be warped 口' on the right (north) side of the men's quarters. By synthesizing these results, a restoration alternative for Yi Cheon-bo's Historic House was suggested.

An Empirical Analysis of Accelerator Investment Determinants: A Longitudinal Study on Investment Determinants and Investment Performance (액셀러레이터 투자결정요인 실증 분석: 투자결정요인과 투자성과에 대한 종단 연구)

  • Jin Young Joo;Jeong Min Nam
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.18 no.4
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    • pp.1-20
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    • 2023
  • This study attempted to identify the relationship between the investment determinants of accelerators and investment performance through empirical analysis. Through literature review, four dimensions and 12 measurement items were extracted for investment determinants, which are independent variables, and investment performance was adjusted to the cumulative amount of subsequent investment based on previous studies. Performance data from 594 companies selected by TIPS from 2017 to 2019, which are relatively reliable and easy to secure data, were collected, and the subsequent investment cumulative attraction amount, which is a dependent variable, was hypothesized through multiple regression analysis three years after the investment. As a result of the study, 'industrial experience years' in the characteristics of founders, 'market size', 'market growth', 'competitive strength', and 'number of patents' in the characteristics of products and services had a significant positive (+) effect. The impact of independent variables on dependent variables was most influenced by the competitive strength of market characteristics, followed by the number of years of industrial experience, the number of patents, the size of the market, and market growth. This was different from the results of previous studies conducted mainly on qualitative research methods, and in most previous studies, the characteristics of founders were the most important, but the empirical analysis results were market characteristics. As a sub-factor, the intensity of competition, which was the subordinate to the importance of previous studies, had the greatest influence in empirical analysis. The academic significance of this study is that it presented a specific methodology to collect and build 594 empirical samples in the absence of empirical research on accelerator investment determinants, and created an opportunity to expand the theoretical discussion of investment determinants through causal research. In practice, the information asymmetry and uncertainty of startups that accelerators have can help them make effective investment decisions by establishing a systematic model of experience-dependent investment determinants.

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