• The Journal of Asian Finance, Economics and Business
• /
• 제6권2호
• /
• pp.257-267
• /
• 2019

The paper aims to test long-term and short-term causality from four exchange rates, the Korean won/$US, the Korean won/Euro, the Korean won/Japanese yen, and the Korean won/Chinese yuan, to the Korea Composite Stock Price Index in the presence of several macroeconomic variables using monthly data from January 1986 to June 2018. The results of Johansen cointegration tests show that there exists at least one cointegrating equation, which indicates that long-run causality from an exchange rate to the Korean stock market will exist. The results of vector error correction estimates show that: for long-term causality, the coefficient of the error correction term is significant with a negative sign, that is, long-term causality from exchange rates to the Korean stock market is observed. For short-term causality, the coefficient of the Japanese yen exchange rate is significant with a positive sign, that is, short-term causality from the Japanese yen exchange rate to the Korean stock market is observed. The coefficient of the financial crises i.e. 1997-1999 Asian financial crisis and 2007-2008 global financial crisis on the endogenous variables in the model and the Korean economy is significant. The result indicates that the financial crises have considerably affected the Korean economy, especially a negative effect on money supply.

• 융합경영연구
• /
• 제7권1호
• /
• pp.1-14
• /
• 2019

Purpose - Currently, the economic globalization has become a common channel for China's enterprise to perform the international economic activities. Due to this background, this paper tries to analyze the influence of internationalization level on operation performance of enterprises. Research design, data, and Methodology - This paper aims at 296 companies going listed in Shanghai Stock Exchange and Shenzhen Stock Exchange. The data about the listed companies during the 12 years from 2005 to 2016 have been collected. Relevant theories, including the theory of comparative advantage, monopolistic advantage and product life cycle in developed countries as well as the small scale technology and state on localized technological capacities in developing countries, have been summarized to provide theoretical basis for the influence of international operation on operation performance of the enterprises. Moreover, the current status of international operation of China's enterprises, including the dynamic cause of the internationalization of China's enterprises, its competitive advantage and disadvantage as well as the interest and potential risk of the internationalization, have been also analyzed. Results - Via adopting the panel data to conduct an empirical analysis, It can be found that the relationship between international operation level and operation performance of China's enterprises can be expressed as the S-curve of declining, rising and declining again. Conclusions - This paper has taken the lead in using Ohlson corporate value model to fill the gap in the relevant researches in China. It can also provide guidance for the international operation of China's enterprises. Meanwhile, the two systems for international operation and performance evaluation index have been put forward. The performance of international operation can be classified as financial performance or corporate value so that the operation effect of those China's enterprises going abroad can be better evaluated.

• 한국엔터테인먼트산업학회논문지
• /
• 제14권8호
• /
• pp.353-379
• /
• 2020

2032년 남북공동올림픽 개최 추진은 한반도의 새로운 남북관계 개선과 함께 새로운 남북공동 번영의 한반도 시대를 청사진으로 천명하며 문제인 정부에 의해 주도적으로 제안되고 추진되고 있는 정책 사안이다. 이에 본 연구에서는 2032년 남북공동올림픽 개최와 관련한 상징적 및 현실적 의제 제시를 통한 추진방안 논의를 목적으로 문헌연구 방법에 의해 전개하였다. 이와 관련한 주요 연구결과는 다음과 같다. 첫째, '서울-평양 축구교류전'인 가칭 '신경평전'의 추진을 제안한다. 둘째, 가칭 '국제평화컵 역전경주(마라톤)대회'의 추진을 제안한다. 셋째, 가칭 '코리아 평화컵 국제 남녀복식 및 혼합복식 탁구선수권대회'의 추진을 제안한다. 넷째, 가칭 '코리아(한반도) 스포츠 과학 포럼' 추진을 제안한다. 다섯째, 2032년 남북공동올림픽 개최와 관련하여 북한 공동개최 종목으로 약 16-17개 종목의 선정방안을 제안한다. 여섯째, 2032년 하계올림픽 개최지 결정 관련 예상 사나리오로 2022년부터 2023년 내 결정된다는 1차 예상을 전망한다. 일곱째, 민·관·학으로 구성된 전문가 중심의 특별위원회인 가칭 '남북사회회 문화교류협력위원회' 또는 가칭 '남북체육교류협력 추진특별위원회'의 설치 방안 추진을 제안한다. 여덟째, 가칭 '남북체육교류협력활성화 5개년 계획' 또는 가칭 '남북교류협력5개년계획'의 추진을 제안한다. 아홉째, 가칭 '남한 k-1리그 북한 선수 정원 외 등록선수 제도' 시범운영 방안 추진을 제안한다. 열번째, '선이후난(先易後難) 및 선제적 제의 원칙' 천명이 요청된다. 열한 번째, 북한 체육 및 교류협력 관련 전문가 풀 구성 및 양성 방안 추진을 제안한다. 마지막으로 남북 당사자 간 가칭 '남북체육교류협정(약)서' 채결과 남한 내부적으로 가칭 '남북체육교류 협력지원법' 제정을 추진한다.

• 무역상무연구
• /
• 제61권
• /
• pp.191-211
• /
• 2014

This paper intends to study some problems in the application of UCP 600 in the international trade transactions with China. Generally speaking, China complies with UCP 600 well. Nevertheless, there are some problems in the application of UCP 600 in China owing to the difference in law and practices. There are some problems in the application of UCP 600 in China owing to the difference of practices under Bills of Exchange Act and The Provisions of the Supreme People's Court on Some Issues Concerning the Trial of Cases of Disputes over Letter of Credit. The Act insists on the formal requirements, the consistency between a letter amount and a figure amount, the unconditional payment character of bills of exchange. The Provisions include the recognition of revocable credits, the difference of standard in examining documents, the difference in the treatment of issuing banks in relation to discrepant documents. These aforesaid matters of the Act and the Provisions are inconsistent with the practices under the UCP 600. There are two main problems in the operation of letters of credit in China. One is the lack of concerned parties' practice knowledge in relation to letters of credit in China. The other is the inactive stance of nominated banks in China. There are two main problems in relation to judiciary institutions in China. First, judges in China tend to abuse the injunctions owing to the lack of understanding in relation to letters of credit. Secondly, there are inconsistency in the court ruling in China.

• 수산경영론집
• /
• 제50권4호
• /
• pp.11-28
• /
• 2019

In this study, the Inter-Korea Fisheries Cooperation Project was divided into four categories: North Korea's Fisheries Infrastructure Development Project, Fisheries Cooperation Project, Human Exchange Project, and North Korea Fisheries Investment Project. First, North Korea's fisheries infrastructure development projects include North Korea's fisheries resource research project, it's fisheries resource development project, and joint enforcement on illegal operation of Chinese ships. Second, fisheries cooperation projects include the operation of the North-South common fish area in the West Sea, the fishing project in North Korea's East sea, and the import of North Korean seafood. Third, human exchange projects include training of aquaculture technicians in North Korea, technology transfer and training of fishing vessels, and boarding of North Korea's fisherman in Korean fishing vessels. Fourth, North Korea's fisheries investment projects include aquaculture facilities and aquaculture feed support, aquatic product processing facilities and technology transfer, and fishery equipment support. However, as international sanctions are maintained in the international community to North Korea, Inter-Korea Fisheries cooperation, however, should be promoted according to the level of easing of international sanctions as international sanctions are maintained in the international community to North Korea. First, North Korea's fisheries resource research project, North Korea's fisheries resource creation project, joint enforcement on illegal operation of Chinese ships, and operation of the common fish area in the West Sea can be promoted if international sanctions are maintained at present, promote North Korea's fisheries resource research project. Second, boarding of North Korean's fisherman in Korean fishing vessels, conducting the fishing project in North Korea's East sea, and importing North Korean seafood can be aided if commercial transactions are possible with North Korea. Third, South Korea will support aquaculture facilities and aquatic feed, fisheries processing facilities and technology transfer, fishery equipment support, training of fisheries and aquaculture technicians, fishery fishing technology transfer, and training of fisherman when a comprehensive economic cooperation project is possible with North Korea.

• 동아시아경상학회지
• /
• 제6권3호
• /
• pp.24-36
• /
• 2018

Purpose - From establishing China-Japan diplomatic relations in 1972, the relations between two states has improved a lot, from which makes the government and the people reap much benefit. Owing to this reason, this paper aims at exploiting the impact of exchange rate volatility of RMB on China's foreign direct investment to Japan. Research design and methodology - The quarterly time series data from 2003 to 2016 will be employed to conduct an empirical analysis under the vector error correction model. Meanwhile, a menu of estimated methods such the Johansen co-integration test and the Granger Causality test will be also used to explore the impact of exchange rate volatility of RMB on China's foreign direct investment to Japan. Results - The empirical analysis results exhibit that the real exchange rate has a positive effect on China's foreign direct investment to Japan in the long run. Conversely, the real exchange rate volatility of RMB, the trade openness and the real GDP have a negative effect on China's foreign direct investment to Japan in the long run. However, in the short run, the China's foreign direct investment to Japan, the real exchange rate, the trade openness and the real GDP in period have a negative effect on China's foreign direct investment to Japan in period. Oppositely, the real exchange rate volatility of RMB in period has a positive effect on China's foreign direct investment to Japan in period. Conclusions - From the empirical evidences in this paper provided, it can be concluded that an increase in the exchange rate volatility of RMB can result in a decrease in the China's foreign direct investment to Japan in the long run. However, an increase in the exchange rate volatility of RMB can lead to an increase in the China's foreign direct investment to Japan in the short run. Therefore, the China's government should have a best control of the real exchange rate volatility of RMB so as to improve China's foreign direct investment to Japan.

• 한국환경과학회지
• /
• 제18권6호
• /
• pp.595-601
• /
• 2009

The effects of the cation-to-anion resin ratio and bed depth on ion exchange performance of mixed-bed were studied at ultralow solution concentration. Breakthrough curves were experimentally obtained for NaCI solution as functions of resin ratio and bed depth. The bed depth affects the pattern of the sodium breakthrough curve but not the chloride breakthrough curve in beds because of the selectivity difference. Resin selectivity determines the shape of breakthrough curves, Some sodium and chloride breakthrough curves crossed at a point as a function of resin ratio. The lower cation-to-anion resin ratio showed the higher effluent concentration or treated volume of the crossover point regardless of the total resin weight.

• 한국건축시공학회:학술대회논문집
• /
• 한국건축시공학회 2010년도 춘계 학술논문 발표대회 1부
• /
• pp.257-260
• /
• 2010

The Architecture, engineering & construction (AEC) industry domains have grown more complex and larger. BIM is a digital representation of a building to facilitate the exchange and development of construction information integration and interoperability. Industry Foundation Classes (IFCs), under development by International Alliance for Interoperability (IAI), represent the part of buildings or elements of a process. IFC has been adopted as a central information repository in order to deliver integrated information. BIM softwares could open the IFC file, recognize standard objects. However, sometimes, information distortion or information loss occurs during information exchange. As project participants exchange BIM information by using BIM softwares they will need a reliable and efficient exchange of information. This paper suggests the BIM object information compatibility problems among BIM softwares and classify the BIM object information compatibility problems.

• Journal of Advanced Research in Ocean Engineering
• /
• 제4권3호
• /
• pp.96-104
• /
• 2018

The importance of data management for the efficient maintenance and operation of offshore structures is becoming increasingly important. This paper has discussed the data schema and business rules that standardize the data exchange between ship design, operation and maintenance. Technical documentation that meets the international standards of ShipDex and S1000D for exchanging the operation and management data in neutral or standard formats has been introduced into the life cycle management of ships. The schema of the data exchange is represented by XML (eXtensible Markup Language) and the lifecycle data is implemented by a structured document. Lifecycle data is represented as data modules defined by XML schema. Given the feasible data generation, an example of a technical document is introduced by a general XML authoring tool.

• The Journal of Asian Finance, Economics and Business
• /
• 제1권1호
• /
• pp.15-21
• /
• 2014

This study investigates extensively the integration of various segments of financial markets (i.e. money market, lending and deposit market, exchange rate market, and capital market) both domestically and internationally. Cointegration approach is employed in the study to find out long term relationship among the variables. Data are on a monthly interval for the period spreads over 2001 to 2010. The results show no evidence of cointegration between money market and exchange rate market and between capital market and exchange rate market of Pakistan. On the other hand, international financial markets integration is also investigated and the findings revealed that domestic money market rates of Pakistan and USA are not cointegrated. Whereas, an evidence of cointegration between capital markets of Pakistan and USA is found in this study.