• Journal of Intelligence and Information Systems
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• v.25 no.1
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• pp.63-83
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• 2019

Investors prefer to look for trading points based on the graph shown in the chart rather than complex analysis, such as corporate intrinsic value analysis and technical auxiliary index analysis. However, the pattern analysis technique is difficult and computerized less than the needs of users. In recent years, there have been many cases of studying stock price patterns using various machine learning techniques including neural networks in the field of artificial intelligence(AI). In particular, the development of IT technology has made it easier to analyze a huge number of chart data to find patterns that can predict stock prices. Although short-term forecasting power of prices has increased in terms of performance so far, long-term forecasting power is limited and is used in short-term trading rather than long-term investment. Other studies have focused on mechanically and accurately identifying patterns that were not recognized by past technology, but it can be vulnerable in practical areas because it is a separate matter whether the patterns found are suitable for trading. When they find a meaningful pattern, they find a point that matches the pattern. They then measure their performance after n days, assuming that they have bought at that point in time. Since this approach is to calculate virtual revenues, there can be many disparities with reality. The existing research method tries to find a pattern with stock price prediction power, but this study proposes to define the patterns first and to trade when the pattern with high success probability appears. The M & W wave pattern published by Merrill(1980) is simple because we can distinguish it by five turning points. Despite the report that some patterns have price predictability, there were no performance reports used in the actual market. The simplicity of a pattern consisting of five turning points has the advantage of reducing the cost of increasing pattern recognition accuracy. In this study, 16 patterns of up conversion and 16 patterns of down conversion are reclassified into ten groups so that they can be easily implemented by the system. Only one pattern with high success rate per group is selected for trading. Patterns that had a high probability of success in the past are likely to succeed in the future. So we trade when such a pattern occurs. It is a real situation because it is measured assuming that both the buy and sell have been executed. We tested three ways to calculate the turning point. The first method, the minimum change rate zig-zag method, removes price movements below a certain percentage and calculates the vertex. In the second method, high-low line zig-zag, the high price that meets the n-day high price line is calculated at the peak price, and the low price that meets the n-day low price line is calculated at the valley price. In the third method, the swing wave method, the high price in the center higher than n high prices on the left and right is calculated as the peak price. If the central low price is lower than the n low price on the left and right, it is calculated as valley price. The swing wave method was superior to the other methods in the test results. It is interpreted that the transaction after checking the completion of the pattern is more effective than the transaction in the unfinished state of the pattern. Genetic algorithms(GA) were the most suitable solution, although it was virtually impossible to find patterns with high success rates because the number of cases was too large in this simulation. We also performed the simulation using the Walk-forward Analysis(WFA) method, which tests the test section and the application section separately. So we were able to respond appropriately to market changes. In this study, we optimize the stock portfolio because there is a risk of over-optimized if we implement the variable optimality for each individual stock. Therefore, we selected the number of constituent stocks as 20 to increase the effect of diversified investment while avoiding optimization. We tested the KOSPI market by dividing it into six categories. In the results, the portfolio of small cap stock was the most successful and the high vol stock portfolio was the second best. This shows that patterns need to have some price volatility in order for patterns to be shaped, but volatility is not the best.

• Journal of Digital Convergence
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• v.12 no.4
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• pp.11-20
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• 2014

Recently K-POP's popularity and the success story of 'Psy' suggests that Korean Culture can get the possibility of entry into the global major market. Increasing the purchasing power of global contents distribution also shows that the delivery of cultural content can be a big business model to create economic benefits. However, for sustainable diffusion of Korean culture, we need efforts to expand the business scope to the global market like the establishment of global distribution platform. In this study, we investigated key factors for activating the global content distribution and then analyzed priority of importance of the factors to be utilized the strategic alternatives using AHP method. To ensure the reliability of the study, experts (30patients) who worked more than 10 years of relevant work were included as population of the questionnaire. The results of analysis, the relative importance of content aspects were higher than technical aspects and policy aspects. In the analysis of the importance of the second layer factors, the business models of policy aspects were analyzed as a factor of top priority, then high-quality content production was selected as an important factor of the next higher ranks.

• Information Systems Review
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• v.10 no.3
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• pp.207-222
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• 2008

In recent business environment, we realize that MIS is taking important role in which it has been involved. However, we are having difficulty to find out the identity of MIS in business studies since MIS is derived from Micro Economics, Operations Research, Computer Science and so on. And there is no clear boundary in order to classify with other business area in consisting curriculums. Furthermore, IT staffs in the field are facing difficulties to utilize what they have learned MIS curriculums provided from business studies. In this research, we would like to present implications for development of market oriented MIS curriculums, which can be the actual needs of IT fields, through analysis of System Integration project for recent three years, analysis of IT capability based on the survey of IT consultants and analysis of application S/W technology trend in global vendor referred to "MIS Curriculum: The Current State of the Art and a Proposed Future Model (Lee et al, 2007)". As enterprise application software technology develop, the system integration can be achieved through special system solutions such as ERP, CRM, SCM, BI, etc. We also have acknowledged that solution consultants who have the ability of packaged S/W application are in demand since S/W vendors have become larger and more practical through M&A. Therefore, we have come to a conclusion regarding new direction of curriculum for increasing human power in IT industry which we demonstrated in detail through this research.

• Journal of Environmental Impact Assessment
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• v.4 no.3
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• pp.9-13
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• 1995

In July 1993 a new prescription of the EC was finished, concerning the voluntary participation of enterprises in a common auditing system. By this in the EC-member countries there must be founded centers of environmental auditing where experienced experts of environmental auditing should be accredited. These accredited experts are controllers for evaluating and certification of carried out environmental-auditings. An environmental-auditing practically represents an environmental assessment for an already existing enterprise with establishing corresponding programmes and strategies for the internal management to improve the environmental relations. Much experiences, which could be collected in the field of EIA during the last years may be transfered to this new task immediately. Only an essential difference there should not be overseen because of national legislation EIA in the defined cases must be carried out. By the EC-prescription carrying out an environmental-auditing for an enterprise is optional, it is recommended only. It was not introduced as a must. In spite of this fact because of the hard competition on the market there will be developed a pressure for the enterprises, to carry out such environmental-auditings. At present already a number of first projects in this direction can be seen, in the first line above all enterprises with the necessary economic power want to use this possibility, to gain better positions on the market. We have already gathered the first experiences in this field. We arranged corresponding contacts to several enterprises within the surroundings of Dresden. Within an opening discussion, where the project is explained and discussed with the management of the enterprise very detailed, the understanding, the readiness and the cooperation for the project are generated necessary prerequesits for the success of the whole work. By means of careful detail-work in collaboration with all departments and on all levels of the enterprise the total mass and energy-balances of the factory established and analysed. There are included also such ranges like material delivery, personal policy, public relations and sale as well as waste management. It is important that all people working in the factory have the feeling to be our partners, and not to have the impression to be checked or controled by an outside organization. This one of the most important factors of environmental auditing, in order to wake up and to develop a common interest on all sides. At the end of the environmental auditing there will be according to the prescription of the EC a catalogue of measures to do immediately, short time, mean time and long time for improvement of the environmental situation of the enterprise. All proposals are made in connection with a corresponding economic evaluation. These measures and programmes are declared as the environmental manual and are the basis for the work of the environmental management of the enterprise for the next three years. According to the EC-prescription, the enterprise with this environmental manual can get a corresponding certificate, which may be used for public relation purposes.

• KDI Journal of Economic Policy
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• v.12 no.3
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• pp.125-151
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• 1990

This paper reviews the economic liberalization experiences of the Southern Cone countries and draws some lessons from their experiences. The Southern Cone countries-Chile, Argentina and Uruguay-followed the different sequences in liberalization. Chile implemented the fiscal reform and the following comprehensive trade reform in the beginning of liberalization, but capital controls were maintained until 1979. Argentina and Uruguay placed more emphasis on the financial reform with the goods market reformed afterwards, but the fiscal sector was never reformed in Argentina. Since the serious inflation plagued the Southern Cone countries, they combined the economic liberalization scheme with the economic stabilization programmes which are based on the monetarist model. Although economic situations in the Southern Cone countries are quite different from those of Korea, we can learn many lessons from their experiences. First, the monetary and fiscal policies should consist of strict financial discipline to bring in the stable domestic inflation. Without the domestic stabilization, the financial liberalization could disturb the domestic economy as the capital inflows in particular generate a real exchange rate appreciation. Second, the monetary approach which is based on the full purchasing power parity and perfect capital mobility make stabilization as simple as a matter of the appropriate exchange rate policy and the proper rate of domestic credit creation. The unsuccessful experiences with monetarist stabilization in the Southern Cone countries suggest that the monetarist model cannot make real exchange rate and real interest rate stable with the trade and financial reform. Third, both the theory and practice have not yet provided a precise solution on the optimal sequencing and speed of the goods and financial market. Nonetheless, it seems desirable to keep the real exchange rate and the real interest rate stable by gradually opening up the current account and then the capital account.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.35 no.6
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• pp.1431-1438
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• 2015

According to the report from OECD, 80% of world trade quantity was influenced by standard, 50% of EU trade demand certification of forced standard. This leads to develop standard connected with R&D in most country and company worldwide. Recently, Technical standards have advantage of reduction of production cost and market dominating power. Standardization of construction technology has very important role that ouput of R&D refer to KS, national construction standards and it activates in the market. However, domestic construction research related to effectiveness of standadization fall short of expectation in comparison with manufacturing industry. This study present criteria that can analyze the performance and effectiveness in construction R&D project connected with standardization. And it applied domestic R&D cases (finished from 2000 to 2009), analyzes ouput of standadization and economic effect to verify the value of construcion technology standardization.

• Journal of Advanced Marine Engineering and Technology
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• v.8 no.1
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• pp.17-36
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• 1984

Since 1973, the competition on the development of fuel saving type internal combustion engines has become severe by the two times oil shock, and new type engines are reported every several months. Whenever these new type engines are developed, new designs are required and they will be offered in the market after performing the endurance test for a long time. But the engine market is faced with a heavy burden of finance, as the developing of a new engine requires tremendous expenses. For this reason, the computer simulation method has been lately developed to cope with it. The computer simulation method can be available to perform the reasonable research works by the theoretical analysis before carrying out practical experiments. With these processes, the developing expenses are cut down and the period of development is curtailed. The object of this study is the development of simulation computer program for the small naturally aspirated four-stroke diesel engine which is intended to product by the original design of our country. The process of simulation is firstly investigated for the ideal engine cycle, and secondly for the real engine cycle. In the ideal engine cycle, each step of the cycle is simulated by the energy balance according to the first law of thermodynamics, and then the engine performance is calculated. In the real cycle imulation program, the injection rate, the preparation rate and the combustion rate of fuel and the heat transfer through the wall of combustion chamber are considered. In this case, the injection rate is supposed as constant through the crank angle interval of injection and the combustion rate is calculated by the Whitehouse-Way equation and the heat transfer is calculated by the Annand's equation. The simulated values are compared with measured values of the YANMAR NS90(C) engine and Mitsubishi 4D30 engine, and the following conclusions are drawn. 1. The heat loss by the exhaust gas is well agree with each other in the lower load, but the measured value is greater than the calculated value in the higher load. The maximum error rate is about 15% in the full load. 2. The calculated quantity of heat transfer to the cooling water is greater than the measured value. The maximum error rate is about 11.8%. 3. The mean effective pressure, the fuel consumption, the power and the torque are well agree with each other. The maximum error is occurred in the fuel consumption, and its error rate is about 7%. From the above remarks, it may be concluded that the prediction of the engine performance is possibly by using the developed program, although the program needs to reform by adding the simulation of intake and exhaust process and assumping more reliable mechanical efficiency, volumetric efficiency, preparation rate and combustion rate.

• Journal of Global Scholars of Marketing Science
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• v.8
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• pp.341-373
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• 2001

Firms are confronting the age of an infinite competition. In order to respond to the rapidly changing business environment and make a success and survival in the international and domestic securities market, firms must take a consideration on the stockholders value-oriented philosophy which has greatly contributed not only to the maximization of corporate profits but also to the stability of financial markets. To pursue stockholders value-oriented philosophy, a firm should build strong relationship with investors by providing exact information of firm's state, financial statement, management policy. Stockholders value-oriented philosophy contributes to long-term growth and development of the firm as well as efficient equity financing and friendship with stockholder. IR is the key factor to attain successful implementation of company's objective. It should be equipped with the most suitable organization and qualified man-power for IR activities. The purpose of this study was to examine the relationship between IR and relationship marketing management. Strategic implications of this study are as follows: First, This study provides a new explanations of IR activities in Relationship Marketing Management. Second, IR activities were key determinants of Trust and Commitment. That means the more a firm does IR activities, the more Trust and Commitment a firm has for their investors. Third, The variables of trust and commitment are highly related to marketing and financial success. IR have a positive effect on a company total value and its cost of capital relative to that of the overall market.

• Annual Conference of KIPS
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• 2017.04a
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• pp.595-597
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• 2017

Despite rapid growth of the global SW market, the Korean market still has a long way to go to impact global power nations. What is the reason that holds back of the No. 1 high-speed Internet country in terms of SW development? It is lack of the foundation for development of the Korean SW industry. In this context, the Korean government declared SW-oriented society and developed polices for each sector; Regarding movement that tries to apply the SW partitioning order institution in public sector to IT projects, this research aims to study SI project problems expected when conducting the SW partitioning order institution and improvements focusing on the public sector that accounts for about 30% of the entire SW industry. SW partitioning order institution is divided into planning-design and development-realization stages, which may cause problems when it is applied to SI projects. As such, the study analyzed SI projects and separate and partitioning order, exemplary cases and examples of industrial projects related to partitioning order, and drew improvement measures from institutional, technological and managerial viewpoints. The research aims to help people involved in IT projects sell SW at proper prices and improve the environment, and presents directions to create a system that strengthens competitiveness of the SW industry and SI projects by providing solutions to problems that suppliers and demanders should recognize before implementing the SW partitioning order institution.

• Environmental and Resource Economics Review
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• v.15 no.4
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• pp.673-692
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• 2006

In order to test for the dynamic optimality condition for the use of nonrenewable resource, it is necessary to estimate the shadow value of the resource in situ. In the previous literatures, a time series for in situ price has been derived either as the difference between marginal revenue and marginal cost or by differentiating with respect to the quantity of ore extracted the restricted cost function in which the quantity of ore is quasi-fixed. However, not only inconsistent estimates are likely to be generated due to the nonmalleability of capital, but the estimate of marginal revenue will be affected by market power. Since firms will likely fail to minimize the cost of the reproducible inputs subject to market prices under realistic circumstances where imperfect factor markets, strikes, or government regulations are present, the shadow in situ values obtained by estimating the restricted cost function can be biased. This paper provides a valid methodology for checking the dynamic optimality condition for a nonrenewable resource by using the input distance function. Our methodology has some advantages over previous ones: only data on quantities of inputs and outputs are required; nor is the maintained hypothesis of cost minimization required; adoption of linear programming enables us to circumvent autocorrelated errors problem caused by use of time series or panel data. The dynamic optimality condition for domestic coal mining does not hold for constant discount rates ranging from 2 to 20 percent over the period 1970~1993. The dynamic optimality condition also does not hold for variable rates ranging from fourth to four times the real interest rate.