• Title/Summary/Keyword: Learning to become

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A Study on the Curriculum for Record Management Science Education - with focus on the Faculty of Cultural Information Resources, Surugadai University; Evolving Program, New Connections (기록관리학의 발전을 위한 교육과정연구 -준하태(駿河台)(스루가다이)대학(大學)의 경우를 중심(中心)으로-)

  • Kim, Yong-Won
    • Journal of Korean Society of Archives and Records Management
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    • v.1 no.1
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    • pp.69-94
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    • 2001
  • The purpose of this paper is to provide an overview of the current status of the records management science education in Japan, and to examine the implications of the rapid growth of this filed while noting some of its significant issues and problems. The goal of records management science education is to improve the quality of information services and to assure an adequate supply of information professionals. Because records management science programs prepare students for a professional career, their curricula must encompass elements of both education and practical training. This is often expressed as a contrast between theory and practice. The confluence of the social, economic and technological realities of the environment where the learning takes place affects both. This paper reviews the historical background and current trends of records management science education in Japan. It also analyzes the various types of curriculum and the teaching staff of these institutions, with focus on the status of the undergraduate program at Surugadai University, the first comprehensive, university level program in Japan. The Faculty of Cultural Information Resources, Surugadai University, a new school toward an integrated information disciplines, was opened in 1994, to explore the theory and practice of the management diverse cultural information resources. Its purpose was to stimulate and promote research in additional fields of information science by offering professional training in archival science, records management, and museum curatorship, as well as librarianship. In 1999, the school introduced a master program, the first in Japan. The Faculty has two departments and each of them has two courses; Department of Sensory Information Resources Management; -Sound and Audiovisual Information Management, -Landscape and Tourism Information Management, Department of Knowledge Information Resources Management; -Library and Information Management, -Records and Archives Management The structure of the entire curriculum is also organized in stages from the time of entrance through basic instruction and onwards. Orientation subjects which a student takes immediately upon entering university is an introduction to specialized education, in which he learns the basic methods of university education and study, During his first and second years, he arranges Basic and Core courses as essential steps towards specialization at university. For this purpose, the courses offer a wide variety of study topics. The number of courses offered, including these, amounts to approximately 150. While from his third year onwards, he begins specific courses that apply to his major field, and in a gradual accumulation of seminar classes and practical training, puts his knowledge grained to practical use. Courses pertaining to these departments are offered to students beginning their second year. However, there is no impenetrable wall between the two departments, and there are only minor differences with regard requirements for graduation. Students may select third or fourth year seminars regardless of the department to which they belong. To be awarded a B.A. in Cultural Information Resources, the student is required to earn 34 credits in Basic Courses(such as, Social History of Cultural Information, Cultural Anthropology, History of Science, Behavioral Sciences, Communication, etc.), 16 credits in Foreign Languages(including 10 in English), 14 credits on Information Processing(including both theory and practice), and 60 credits in the courses for his or her major. Finally, several of the issues and problems currently facing records management science education in Japan are briefly summarized below; -Integration and Incorporation of related areas and similar programs, -Curriculum Improvement, -Insufficient of Textbooks, -Lack of qualified Teachers, -Problems of the employment of Graduates. As we moved toward more sophisticated, integrated, multimedia information services, information professionals will need to work more closely with colleagues in other specialties. It will become essential to the survival of the information professions for librarians to work with archivists, record managers and museum curators. Managing the changes in our increasingly information-intensive society demands strong coalitions among everyone in cultural Institutions. To provide our future colleagues with these competencies will require building and strengthening partnerships within and across the information professions and across national borders.

A Study on the 1889 'Nanjukseok' (Orchid, Bamboo and Rock) Paintings of Seo Byeong-o (석재 서병오(1862-1936)의 1889년작 난죽석도 연구)

  • Choi, Kyoung Hyun
    • Korean Journal of Heritage: History & Science
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    • v.51 no.4
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    • pp.4-23
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    • 2018
  • Seo Byeong-o (徐丙五, 1862-1936) played a central role in the formation of the Daegu artistic community-which advocated artistic styles combining poetry, calligraphy and painting-during the Japanese colonial period, when the introduction of the Western concept of 'art' led to the adoption of Japanese and Western styles of painting in Korea. Seo first entered the world of calligraphy and painting after meeting Lee Ha-eung (李昰應, 1820-1898) in 1879, but his career as a scholar-artist only began in earnest after Korea was annexed by Japan in 1910. Seo's oeuvre can be broadly divided into three periods. In his initial period of learning, from 1879 to 1897, his artistic activity was largely confined to copying works from Chinese painting albums and painting works in the "Four Gentlemen" genre, influenced by the work of Lee Ha-eung, in his spare time. This may have been because Seo's principal aim at this time was to further his career as a government official. His subsequent period of development, which lasted from 1898 until 1920, saw him play a leading social role in such areas as the patriotic enlightenment movement until 1910, after which he reoriented his life to become a scholar-artist. During this period, Seo explored new styles based on the orchid paintings of Min Yeong-ik (閔泳翊, 1860-1914), whom he met during his second trip to Shanghai, and on the bamboo paintings of Chinese artist Pu Hua (蒲華, 1830-1911). At the same time, he painted in various genres including landscapes, flowers, and gimyeong jeolji (器皿折枝; still life with vessels and flowers). In his final mature period, from 1921 to 1936, Seo divided his time between Daegu and Seoul, becoming a highly active calligrapher and painter in Korea's modern art community. By this time his unique personal style, characterized by broad brush strokes and the use of abundant ink in orchid and bamboo paintings, was fully formed. Records on, and extant works from, Seo's early period are particularly rare, thus confining knowledge of his artistic activities and painting style largely to the realm of speculation. In this respect, eleven recently revealed nanjukseok (蘭竹石圖; orchid, bamboo and rock) paintings, produced by Seo in 1889, provide important clues about the origins and standards of his early-period painting style. This study uses a comparative analysis to confirm that Seo's orchid paintings show the influence of the early gunran (群蘭圖; orchid) and seongnan (石蘭圖; rock and orchid) paintings produced by Lee Ha-eung before his arrest by Qing troops in July 1882. Seo's bamboo paintings appear to show both that he adopted the style of Zheng Xie (鄭燮, 1693-1765) of the Yangzhou School (揚州畵派), a style widely known in Seoul from the late eighteenth century onward, and of Heo Ryeon (許鍊, 1809-1892), a student of Joseon artist Kim Jeong-hui (金正喜,1786-1856), and that he attempted to apply a modified version of Lee Ha-eung's seongnan painting technique. It was not possible to find other works by Seo evincing a direct relationship with the curious rocks depicted in his 1889 paintings, but I contend that they show the influence of both the late-nineteenth-century-Qing rock painter Zhou Tang (周棠, 1806-1876) and the curious rock paintings of the middle-class Joseon artist Jeong Hak-gyo (丁學敎, 1832-1914). In conclusion, this study asserts that, for his 1889 nanjukseok paintings, Seo Byeong-o adopted the styles of contemporary painters such as Heo Ryeon and Jeong Hak-gyo, whom he met during his early period at the Unhyeongung through his connection with its occupant, Lee Ha-eung, and those of artists such as Zheng Xie and Zhou Tang, whose works he was able to directly observe in Korea.

A Study on the ' Zhe Zhong Pai'(折衷派) of the Traditional Medicine of Japan (일본(日本) 의학(醫學)의 '절충파(折衷派)'에 관(關)한 연구(硏究))

  • Park, Hyun-Kuk;Kim, Ki-Wook
    • The Journal of Dong Guk Oriental Medicine
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    • v.10
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    • pp.41-61
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    • 2008
  • The outline and characteristics of the important doctors of the 'Zhe Zhong Pai'(折衷派) are as follows. Part 1. In the late Edo(江戶) period The 'Zhe Zhong Pai', which tried to take the theory and clinical treatment of the 'Hou Shi Pai (後世派)' and the 'Gu Fang Pai(古方派)' and get their strong points to make treatments perfect, appeared. Their point was 'The main part is the art of the ancients, The latter prescriptions are to be used'(以古法爲主, 後世方爲用) and the "Shang Han Lun(傷寒論)" was revered for its treatments but in actual use it was not kept at that. As mentioned above The 'Zhe Zhong Pai' viewed treatments as the base, which was the view of most doctors in the Edo period. However, the reason the 'Zhe Zhong Pai' is not valued as much as the 'Gu Fang Pai' by medical history books in Japan is because the 'Zhe Zhong Pai' does not have the substantiation or uniqueness of the 'Gu Fang Pai', and also because the view of 'gather as well as store up'(兼收並蓄) was the same as the 'Kao Zheng Pai'. Moreover, the 'compromise'(折衷) point of view was from taking in both Chinese and western medical knowledge systems(漢蘭折衷). Generally the pioneer of the 'Zhe Zhong Pai' is seen as Mochizuki Rokumon(望月鹿門) and after that was Fukui Futei(福井楓亭), Wadato Kaku(和田東郭), Yamada Seichin(山田正珍) and Taki Motohiro(多紀元簡). Part 2. The lives of Wada Tokaku(和田東郭), Nakagame Kinkei(中神琴溪), Nei Teng Xi Zhe(內藤希哲), the important doctors of the 'Zhe Zhong Pai', are as follows. First Wada Tokaku(和田東郭, 1743-1803) was born when the 'Hou Shi Pai' was already declining and the 'Gu Fang Pai' was flourishing and learned medicine from a 'Hou Shi Pai' doctor, Hu Tian Xu Shan(戶田旭山) and a 'Gu Fang Pai' doctor, Yoshimasu Todo(吉益東洞). He was not hindered by 'the old ways(古方)' and did not lean towards 'the new ways(後世方)' and formed a way of compromise that 'looked at hardness and softness as the same'(剛柔相摩) by setting 'the cure of the disease' as the base, and said that to cure diseases 'the old way' must be used, but 'the new way' was necessary to supplement its shortcomings. His works include "Dao Shui Suo Yan(導水瑣言)", "Jiao Chiang Fang Yi Je(蕉窗方意解)" and "Yi Xue Sho(醫學說)". Second. Nakagame Kinkei(中神琴溪, 1744-1833) was famous for leaving Yoshimasu Todo(吉益東洞) and changing to the 'Zhe Zhong Pai', and in his early years used qing fen(輕粉) to cure geisha(妓女) of syphilis. His argument was "the "Shang Han Lun" must be revered but needs to be adapted", "Zhong Jing can be made into a follower but I cannot become his follower", "the later medical texts such as "Ru Men Shi Qin(儒門事親)" should only be used for its prescriptions and not its theories". His works include "Shang Han Lun Yue Yan(傷寒論約言)". Third, Nei Teng Xi Zhe(內藤希哲, 1701-1735) learned medicine from Qing Shui Xian Sheng(淸水先生) and went out to Edo. In his book "Yi Jing Jie Huo Lun(醫經解惑論)" he tells of how he went from 'learning'(學) to 'skepticism'(惑) and how skepticism made him learn in 'the six skepticisms'(六惑). In the latter years Xi Zhe(希哲) combines the "Shen Nong Ben Cao Jing(神農本草經)", the main text for herbal medicine, "Ming Tang Jing(明堂經)" of accupuncture, basic theory texts "Huang Dui Nei Jing(皇帝內經)" and "Nan Jing(難經)" with the "Shang Han Za Bing Lun", a book that the 'Gu Fang Pai' saw as opposing to the rest, and became 'an expert of five scriptures'(五經一貫). Part 3. Asada Showhaku(淺田宗伯, 1815-1894) started medicine at Zhong Cun Zhong Zong(中村中倧) and learned 'the old way'(古方) from Yoshimasu Todo and got experience through Ouan Yue(川越) and Fu Jing(福井) and received teachings in texts, history and Wang Yangmin's principles(陽明學) fmm famous teachers. Showhaku(倧伯) meets a medical official of the makufu(幕府), Ben Kang Zong Yuan(本康宗圓), and receives help from the 3 great doctors of the Edo period, Taki Motokato(多紀元堅), Xiao Dao Xue Gu(小島學古) and Xi Duo Cun Kao(喜多村栲窻) and further develops his arts. At 47 he diagnoses the general Jia Mao(家茂) with 'heart failure from beriberi'(脚氣衡心) and becomes a Zheng Shi(徵土), at 51 he cures a minister from France and received a present from Napoleon, at 65 he becomes the court physician and saves Ming Gong(明宮) Jia Ren Qn Wang(嘉仁親王, later the 大正天皇) from bodily convulsions and becomes 'the vassal of merit who saved the national polity(國體)' At the 7th year of the Meiji(明治) he becomes the 2nd owner of Wen Zhi She(溫知社) and takes part in the 'kampo continuation movement'. In his latter years he saw 14000 patients a year, so we can estimate the qualjty and quantity of his clinical skills. Showhaku(宗伯) wrote over 80 books including the "Ju Chuang Shu Ying(橘窻書影)", "Wu Wu Yao Shi Fang Han(勿誤藥室方函)", "Shang Han Biang Shu(傷寒辨術)", "Jing Qi Shen Lun(精氣神論)", "Hunag Guo Ming Yi Chuan(皇國名醫傳)" and the "Xian Jhe Yi Hua(先哲醫話)". Especially in the "Ju Chuang Shu Ying(橘窻書影) he says "the old theories are the main, and the new prescriptions are to be used"(以古法爲主, 後世方爲用), stating the 'Zhe Zhong Pai' way of thinking, In the first volume of "Shang Han Biang Shu(傷寒辨術)" and "Za Bing Lun Shi(雜病論識)", 'Zong Ping'(總評), He discerns the parts that are not Zhang Zhong Jing's writings and emphasizes his theories and practical uses.

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A Study on the 'Zhe Zhong Pai'(折衷派) of the Traditional Medicine of Japan (일본(日本) 의학醫學의 '절충파(折衷派)'에 관(關)한 연구(硏究))

  • Park, Hyun-Kuk;Kim, Ki-Wook
    • Journal of Korean Medical classics
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    • v.20 no.3
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    • pp.121-141
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    • 2007
  • The outline and characteristics of the important doctors of the 'Zhe Zhong Pai'(折衷派) are as follows. Part 1. In the late Edo(江戶) period The 'Zhe Zhong Pai', which tried to take the theory and clinical treatment of the 'Hou Shi Pai (後世派)' and the 'Gu Fang Pai (古方派)' and get their strong points to make treatments perfect, appeared. Their point was 'The main part is the art of the ancients, The latter prescriptions are to be used'(以古法爲主, 後世方爲用) and the "Shang Han Lun(傷寒論)" was revered for its treatments but in actual use it was not kept at that. As mentioned above The 'Zhe Zhong Pai ' viewed treatments as the base, which was the view of most doctors in the Edo period, However, the reason the 'Zhe Zhong Pai' is not valued as much as the 'Gu Fang Pai' by medical history books in Japan is because the 'Zhe Zhong Pai' does not have the substantiation or uniqueness of the 'Gu Fang Pai', and also because the view of 'gather as well as store up' was the same as the 'Kao Zheng Pai', Moreover, the 'compromise'(折衷) point of view was from taking in both Chinese and western medical knowledge systems(漢蘭折衷), Generally the pioneer of the 'Zhe Zhong Pai' is seen as Mochizuki Rokumon(望月鹿門) and after that was Fukui Futei(福井楓亭), Wadato Kaku(和田東郭), Yamada Seichin(山田正珍) and Taki Motohiro(多紀元簡), Part 2. The lives of Wada Tokaku(和田東郭), Nakagame Kinkei(中神琴溪), Nei Teng Xi Zhe(內藤希哲), the important doctors of the 'Zhe Zhong Pai', are as follows First. Wada Tokaku(和田東郭, 1743-1803) was born when the 'Hou Shi Pai' was already declining and the 'Gu Fang Pai' was flourishing and learned medicine from a 'Hou Shi Pai' doctor, Hu Tian Xu Shan(戶田旭山) and a 'Gu Fang Pai' doctor, Yoshimasu Todo(吉益東洞). He was not hindered by 'the old ways(古方), and did not lean towards 'the new ways(後世方)' and formed a way of compromise that 'looked at hardness and softness as the same'(剛柔相摩) by setting 'the cure of the disease' as the base, and said that to cure diseases 'the old way' must be used, but 'the new way' was necessary to supplement its shortcomings. His works include "Dao Shui Suo Yan", "Jiao Chiang Fang Yi Je" and "Yi Xue Sho(醫學說)" Second. Nakagame Kinkei(中神琴溪, 1744-1833) was famous for leaving Yoshirnasu Todo(吉益東洞) and changing to the 'Zhe Zhong Pai', and in his early years used qing fen(輕粉) to cure geisha(妓女) of syphilis. His argument was "the "Shang Han Lun" must be revered but needs to be adapted", "Zhong jing can be made into a follower but I cannot become his follower", "the later medical texts such as "Ru Men Shi Qin(儒門事親)" should only be used for its prescriptions and not its theories". His works include "Shang Han Lun Yue Yan(傷寒論約言) Third. Nei Teng Xi Zhe(內藤希哲, 1701-1735) learned medicine from Qing Shui Xian Sheng(淸水先生) and went out to Edo. In his book "Yi Jing Jie Huo Lun(醫經解惑論)" he tells of how he went from 'learning'(學) to 'skepticism'(惑) and how skepticism made him learn in 'the six skepticisms'(六惑). In the latter years Xi Zhe(希哲) combines the "Shen Nong Ben Cao jing(神農本草經)", the main text for herbal medicine, "Ming Tang jing(明堂經)" of accupuncture, basic theory texts "Huang Dui Nei jing(黃帝內徑)" and "Nan jing(難經)" with the "Shang Han Za Bing Lun", a book that the 'Gu Fang Pai' saw as opposing to the rest, and became 'an expert of five scriptures'(五經一貫). Part 3. Asada Showhaku(淺田宗伯, 1815-1894) started medicine at Zhong Cun Zhong(中村中倧) and learned 'the old way'(古方) from Yoshirnasu Todo and got experience through Chuan Yue(川越) and Fu jing(福井) and received teachings in texts, history and Wang Yangmin's principles(陽明學) from famous teachers. Showhaku(宗伯) meets a medical official of the makufu(幕府), Ben Kang Zong Yuan(本康宗圓), and recieves help from the 3 great doctors of the Edo period, Taki Motokato(多紀元堅), Xiao Dao Xue GU(小島學古) and Xi Duo Cun Kao Chuang and further develops his arts. At 47 he diagnoses the general Jia Mao(家茂) with 'heart failure from beriberi'(脚氣衝心) and becomes a Zheng Shi(徵I), at 51 he cures a minister from France and received a present from Napoleon, at 65 he becomes the court physician and saves Ming Gong(明宮) jia Ren Qn Wang(嘉仁親王, later the 大正犬皇) from bodily convulsions and becomes 'the vassal of merit who saved the national polity(國體)' At the 7th year of the Meiji(明治) he becomes the 2nd owner of Wen Zhi She(溫知社) and takes part in the 'kampo continuation movement'. In his latter years he saw 14000 patients a year, so we can estimate the quality and quantity of his clinical skills Showhaku(宗伯) wrote over 80 books including the "Ju Chuang Shu Ying(橘窓書影)", "WU Wu Yao Shi Fang Han(勿誤藥室方函)", "Shang Han Biang Shu(傷寒辨術)", "jing Qi Shen Lun(精氣神論)", "Hunag Guo Ming Yi Chuan(皇國名醫傳)" and the "Xian Jhe Yi Hua(先哲醫話)". Especially in the "Ju Chuang Shu Ying(橘窓書影)" he says "the old theories are the main, and the new prescriptions are to be used"(以古法爲主, 後世方爲用), stating the 'Zhe Zhong Pai' way of thinking. In the first volume of "Shung Han Biang Shu(傷寒辨術) and "Za Bing Lun Shi(雜病論識)", 'Zong Ping'(總評), He discerns the parts that are not Zhang Zhong Jing's writings and emphasizes his theories and practical uses.

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A Comparative Study on Buddhist Painting, MokWooDo (牧牛圖: PA Comparative Study on Buddhist Painting, MokWooDo (牧牛圖: Painting of Bull Keeping) and Confucian/Taoist Painting, SipMaDo (十馬圖: Painting of Ten Horses) - Focused on SimBeop (心法: Mind Control Rule) of the Three Schools: Confucianism, Buddhism and Taoism -nd Control Rule) of the Three Schools: Confucianism, Buddhism and Taoism - (불가(佛家) 목우도(牧牛圖)와 유·도(儒·道) 십마도(十馬圖) 비교 연구 - 유불도(儒佛道) 삼가(三家)의 심법(心法)을 중심으로 -)

  • Park, So-Hyun;Lee, Jung-Han
    • Journal of the Korean Institute of Traditional Landscape Architecture
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    • v.40 no.4
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    • pp.67-80
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    • 2022
  • SipWooDo (十牛圖: Painting of Ten Bulls), a Buddhist painting, is a kind of Zen Sect Buddhism painting, which is shown as a mural in many of main halls of Korean Buddhist temples. MokWooDo has been painted since Song Dynasty of China. It paints a cow, a metaphor of mind and a shepherd boy who controls the cow. It comes also with many other types of works such as poetry called GyeSong, HwaWoonSi and etc. That is, it appeared as a pan-cultural phenomenon beyond ideology and nation not limited to Chinese Buddhist ideology of an era. This study, therefore, selects MokWooDo chants that represent Confucianism, Buddhism and Taoism to compare the writing purposes, mind discipline methods and ultimate goals of such chant literatures in order to integrate and comprehend the ideologies of such three schools in the ideologically cultural aspect, which was not fully dealt with in the existing studies. In particular, the study results are: First, the SipWooDo of Buddhist School is classified generally into Bo Myoung's MokWooDo and Kwak Ahm's SimWooDo (尋牛圖: Painting of Searching out a Bull). Zen Sect Buddhism goes toward nirvana through enlightenment. Both MokWooDo and SimWooDo of Buddhist School are the discipline method of JeomSu (漸修: Discipline by Steps). They were made for SuSimJeungDo (修心證道: Enlightenment of Truth by Mind Discipline), which appears different in HwaJe (畫題: Titles on Painting) and GyeSong (偈頌: Poetry Type of Buddhist Chant) between Zen Sect Buddhism and Doctrine Study Based Buddhism, which are different from each other in viewpoints. Second, Bo Myoung's MokWooDo introduces the discipline processes from MiMok (未牧: Before Tamed) to JinGongMyoYu (眞空妙有: True Vacancy is not Separately Existing) of SsangMin (雙泯: the Level where Only Core Image Appears with Every Other Thing Faded out) that lie on the method called BangHalGiYong (棒喝機用: a Way of Using Rod to Scold). On the other side, however, it puts its ultimate goal onto the way to overcome even such core image of SsangMin. Third, Kwak Ahm's SimWooDo shows the discipline processes of JeomSu from SimWoo (尋牛: Searching out a Bull) to IpJeonSuSu (入鄽垂手: Entering into a Place to Exhibit Tools). That is, it puts its ultimate goal onto HwaGwangDongJin (和光同塵: Harmonized with Others not Showing your own Wisdom) where you are going together with ordinary people by going up to the level of 'SangGuBori (上求菩提: Discipline to Go Up to Gain Truth) and HaHwaJungSaeng (下化衆生: Discipline to Go Down to Be with Ordinary People)' through SaGyoIpSeon (捨敎入禪: Entering into Zen Sect Buddhism after Completing a Certain Volume of Doctrine Study), which are working for leading the ordinary people of all to finding out their Buddhist Nature. Fourth, Shimiz Shunryu (清水春流)'s painting YuGaSipMaDo (儒家十馬圖: Painting of Ten Horses of Confucian School) borrowed Bo Myoung's MokWooDo. That is, it borrowed the terms and pictures of Buddhist School. However, it features 'WonBulIpYu (援佛入儒: Enlightenment of Buddhist Nature by Confucianism)', which is based on the process of becoming a greatly wise person through Confucian study to go back to the original good nature. From here, it puts its goal onto becoming a greatly wise person, GunJa who is completely harmonized with truth, through the study of HamYang (涵養: Mind Discipline by Widening Learning and Intelligence) that controls outside mind to make the mind peaceful. Its ultimate goal is in accord with "SangCheonJiJae, MuSeongMuChee (上天之載, 無聲無臭: Heaven Exists in the Sky Upward; It is Difficult to Get the Truth of Nature, which has neither sound nor smell)' words from Zhōngyōng. Fifth, WonMyeongNhoYin (圓明老人)'s painting SangSeungSuJinSamYo (上乘修真三要: Painting of Three Essential Things to Discipline toward Truth) borrowed Bo Myoung's MokWooDo while it consists of totally 13 sheets of picture to preach the painter's will and preference. That is, it features 'WonBulIpDo (援佛入道: Following Buddha to Enter into Truth)' to preach the painter's doctrine of Taoism by borrowing the pictures and poetry type chants of Buddhist School. Taoism aims to become a miraculously powerful Taoist hermit who never dies by Taoist healthcare methods. Therefore, Taoists take the mind discipline called BanHwanSimSeong (返還心性: Returning Back to Original Mind Nature), which makes Taoists go ultimately toward JaGeumSeon (紫金仙) that is the original origin by changing into a saint body that is newly conceived with the vital force of TaeGeuk abandoning the existing mind and body fully. This is a unique feature of Taoism, which puts its ultimate goal onto the way of BeopShinCheongJeong (法身淸淨: Pure and Clean Nature of Buddha) that is in accord with JiDoHoiHong (至道恢弘: Getting to Wide and Big Truth).

Estimation of GARCH Models and Performance Analysis of Volatility Trading System using Support Vector Regression (Support Vector Regression을 이용한 GARCH 모형의 추정과 투자전략의 성과분석)

  • Kim, Sun Woong;Choi, Heung Sik
    • Journal of Intelligence and Information Systems
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    • v.23 no.2
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    • pp.107-122
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    • 2017
  • Volatility in the stock market returns is a measure of investment risk. It plays a central role in portfolio optimization, asset pricing and risk management as well as most theoretical financial models. Engle(1982) presented a pioneering paper on the stock market volatility that explains the time-variant characteristics embedded in the stock market return volatility. His model, Autoregressive Conditional Heteroscedasticity (ARCH), was generalized by Bollerslev(1986) as GARCH models. Empirical studies have shown that GARCH models describes well the fat-tailed return distributions and volatility clustering phenomenon appearing in stock prices. The parameters of the GARCH models are generally estimated by the maximum likelihood estimation (MLE) based on the standard normal density. But, since 1987 Black Monday, the stock market prices have become very complex and shown a lot of noisy terms. Recent studies start to apply artificial intelligent approach in estimating the GARCH parameters as a substitute for the MLE. The paper presents SVR-based GARCH process and compares with MLE-based GARCH process to estimate the parameters of GARCH models which are known to well forecast stock market volatility. Kernel functions used in SVR estimation process are linear, polynomial and radial. We analyzed the suggested models with KOSPI 200 Index. This index is constituted by 200 blue chip stocks listed in the Korea Exchange. We sampled KOSPI 200 daily closing values from 2010 to 2015. Sample observations are 1487 days. We used 1187 days to train the suggested GARCH models and the remaining 300 days were used as testing data. First, symmetric and asymmetric GARCH models are estimated by MLE. We forecasted KOSPI 200 Index return volatility and the statistical metric MSE shows better results for the asymmetric GARCH models such as E-GARCH or GJR-GARCH. This is consistent with the documented non-normal return distribution characteristics with fat-tail and leptokurtosis. Compared with MLE estimation process, SVR-based GARCH models outperform the MLE methodology in KOSPI 200 Index return volatility forecasting. Polynomial kernel function shows exceptionally lower forecasting accuracy. We suggested Intelligent Volatility Trading System (IVTS) that utilizes the forecasted volatility results. IVTS entry rules are as follows. If forecasted tomorrow volatility will increase then buy volatility today. If forecasted tomorrow volatility will decrease then sell volatility today. If forecasted volatility direction does not change we hold the existing buy or sell positions. IVTS is assumed to buy and sell historical volatility values. This is somewhat unreal because we cannot trade historical volatility values themselves. But our simulation results are meaningful since the Korea Exchange introduced volatility futures contract that traders can trade since November 2014. The trading systems with SVR-based GARCH models show higher returns than MLE-based GARCH in the testing period. And trading profitable percentages of MLE-based GARCH IVTS models range from 47.5% to 50.0%, trading profitable percentages of SVR-based GARCH IVTS models range from 51.8% to 59.7%. MLE-based symmetric S-GARCH shows +150.2% return and SVR-based symmetric S-GARCH shows +526.4% return. MLE-based asymmetric E-GARCH shows -72% return and SVR-based asymmetric E-GARCH shows +245.6% return. MLE-based asymmetric GJR-GARCH shows -98.7% return and SVR-based asymmetric GJR-GARCH shows +126.3% return. Linear kernel function shows higher trading returns than radial kernel function. Best performance of SVR-based IVTS is +526.4% and that of MLE-based IVTS is +150.2%. SVR-based GARCH IVTS shows higher trading frequency. This study has some limitations. Our models are solely based on SVR. Other artificial intelligence models are needed to search for better performance. We do not consider costs incurred in the trading process including brokerage commissions and slippage costs. IVTS trading performance is unreal since we use historical volatility values as trading objects. The exact forecasting of stock market volatility is essential in the real trading as well as asset pricing models. Further studies on other machine learning-based GARCH models can give better information for the stock market investors.