• 통상정보연구
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• 제12권1호
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• pp.99-121
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• 2010

This paper reviews the categories and properties of risk measures, analyzes the classes and structural equations of volatility forecasting models, and presents the practical methodologies and their expansion methods of estimating and forecasting the volatilities of exchange rates using Excel spreadsheet modeling. We apply the GARCH(1,1) model to the Korean won(KRW) denominated daily and monthly exchange rates of USD, JPY, EUR, GBP, CAD and CNY during the periods from January 4, 1998 to December 31, 2009, make the estimates of long-run variances in the returns of exchange rate calculated as the step-by-step change rate, and test the adequacy of estimated GARCH(1,1) model using the Box-Pierce-Ljung statistics Q and chi-square test-statistics. We demonstrate the adequacy of GARCH(1,1) model in estimating and forecasting the volatility of exchange rates in the monthly series except the semi-variance GARCH(1,1) applied to KRW/JPY100 rate. But we reject the adequacy of GARCH(1,1) model in estimating and forecasting the volatility of exchange rates in the daily series because of the very high Box-Pierce-Ljung statistics in the respective time lags resulting to the self-autocorrelation. In conclusion, the GARCH(1,1) model provides for the easy and helpful tools to forecast the exchange rate volatilities and may become the powerful methodology to overcome the application difficulties with the spreadsheet modeling.

• 품질경영학회지
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• 제35권1호
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• pp.124-135
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• 2007

This study investigated the relationship between business-to-business service quality and loyalty by applying the IMP (International/Industrial Marketing and Purchasing Group) model. The study found that six dimensions of service quality which were product exchange, financial exchange, information exchange, social exchange, cooperation, and adaptation explained B2B service quality very well. More specifically, the study found that service quality dimensions of social exchange, cooperation, and adaptation were more important than those of product exchange, financial exchange, and information exchange. The study also found a positive relationship between service quality and loyalty. In fact, organizational buyers appeared to show greater loyalty as they perceived service quality better.

• Industrial Engineering and Management Systems
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• 제6권1호
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• pp.55-63
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• 2007

Exchange of information is essential to the process of innovation such as product development. However, in many cases innovation fails because of a lack of knowledge sharing among parties concerned, even if parties individually have pieces of useful knowledge and skills. Besides physical factors like communication costs, the possibility of opportunistic behavior by parties like stealing ideas can discourage information exchange. This paper introduces a model to analyze incentives of information exchange. The model is a game by two players who alternately opt to offer information to the partner. It is suggested that information exchange can stop before reaching the efficient level. In order to attain the efficient information exchange, expectation of mutual benefit and absence of opportunistic motives in both players are needed. Methods for promoting information exchange include modifying payoff structure to meet the condition of information exchange. The fluidity of partnership may increase a variety of information exchange partners, but discourage building trust between partners which promotes information exchange.

• Journal of Ship and Ocean Technology
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• 제10권2호
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• pp.11-23
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• 2006

The model exchange from CAD system to CAE system in valid and effective manner is the major issue of automatic analysis modelling of ship structure. However, model exchange approaches based on the neutral CAD file have resulted in invalid model exchange that could not properly reflect the characteristics of CAD model and CAE model of ship structure. This paper presents the new approach of n-to-n mapping to exchange ship structure model in heterogeneous CAD/CAE environments. In this study, the common model called 'unified ship model for analysis' to directly extract proper information from different CAD systems for ship structural analysis is proposed. Moreover, a command language based model interfacing technique to construct an idealized model for analysis job is also proposed. The proposed approach has been actually implemented in DSME CAD/CAE environment of ship structure such as TRIBON system, PATRAN system and FLUENT system. The applicability and effectiveness of the proposed approach was verified by applying it to the real analysis project for fore-body of ship and block lifting. This application results show that the proposed approach can be effectively used for heterogeneous CAD/CAE environment.

• 자원ㆍ환경경제연구
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• 제11권3호
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• pp.397-414
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• 2002

This paper presents an empirical analysis of exchange rate volatility, petroleum's import price and industrial production on petroleum imports. The GARCH framework is used to measure the exchange rate volatility. One of the most appealing features of the GARCH model is that it captures the volatility clustering phenomenon. We found one long-run relationship between petroleum imports, import price, industrial production, and exchange rate volatility using Johansen's multivariate cointegration methodology. Since there exists a cointegrating vector, therefore, we employ an error correction model to examine the short-run dynamic linkage, finding that the exchange rate volatility performs a key role in the short-run. This paper also apply impulse-response functions to provide the dynamic responses of energy consumption to the exchange rate volatility. The results show that the response of energy consumption to exchange rate volatility declines at the first month and dies out very quickly.

• 한국정밀공학회:학술대회논문집
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• 한국정밀공학회 2005년도 춘계학술대회 논문집
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• pp.1326-1331
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• 2005

A product is designed through the collaboration among engineers in several fields such as design, analysis, and manufacturing. These series of functions are performed repeatedly during the design process. An easy access and exchange of the model data is one of the important elements that help to shorten production development time. Especially, the importance of data exchange between CAD and CAE applications is increasing in the field of verification and estimation of the products. However, information and knowledge of model which is generated by a CAD software cannot be transferred by a function of CAE software, as an exchange of product data between CAD and CAE applications. It causes a delay in design analysis and eventually discourages a designer's effort in improving his design. Therefore, we need to integrate a commercial CAD and CAE applications effectively and to use the same interface on a product model obtained in a distributed environment. This paper shows how to implement a model exchange between CAD and CAE by a web-service and how to provide a communication environment among engineers.

• 한국CDE학회논문집
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• 제8권2호
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• pp.122-132
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• 2003

STEP AP218 has a standard schema to represent the structural model of a midship section. While it helps to exchange ship structural models among heterogeneous automation systems, most shipyards and classification societies still exchange information using 2D paper drawings. We propose a feature parameter input method to generate a 3D STEP model of a ship structure from 2D drawings. We have analyzed the ship structure information contained in 2D drawings and have defined a data model to express the contents of the drawing. We also developed a QUI for the feature parameter input. To translate 2D information extracted from the drawing into a STEP AP2l8 model, we have developed a shape generation library, and generated the 3D ship model through this library. The generated 3D STEP model of a ship structure can be used to exchange information between design departments in a shipyard as well as between classification societies and shipyards.

• Journal of Korea Trade
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• 제23권5호
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• pp.87-101
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• 2019

Purpose - This paper examines the effectiveness of the foreign exchange risk insurance system in the promotion of SME exports in Korea. The purpose of this study is to analyze the short-term and long-term responses of SME exports to foreign exchange risk insurance support policies. Based on these empirical studies, we would like to present some operational improvements to the operation of the foreign exchange risk insurance system. Design/methodology - In order to analyze the effect of exchange risk insurance on the exports of SMEs, a VAR model consisting of foreign exchange risk insurance underwriting values, export relative price, and domestic demand pressure, including export volume, was established. The study began with tests of the stationarity of time series data. The unit root tests showed that all concerned variables were non-stationary. Accordingly, the results of the cointegration test showed that the tested variables are not cointegrated. Finally, an impulse response function and variance decomposition analysis were conducted to analyze the impulse of foreign exchange risk insurance on exports of SMEs. Findings - As a result of estimating the VAR (1) model, foreign exchange risk insurance was found to be significant at a 1% significance level for SME' export promotion. In the impulse response analysis, SMEs' export response to the impulse of foreign exchange risk insurance showed that exports gradually increased until the third quarter, and then slowed down. However, the impulse did not disappear, and appeared continuously. Originality/value - This study analyzed the effect of foreign exchange insurance on exports of SMEs by applying the VAR model. In particular, this study is the first to analyze the short-term and long-term effects of foreign exchange risk insurance on exports of SMEs. The empirical evidence in the current study have a policy implication for the policy authority to support and promote the foreign exchange risk insurance in the effect of exchange rate volatility on Korea' export SMEs.

• The Journal of Asian Finance, Economics and Business
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• 제9권5호
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• pp.1-9
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• 2022

The study examines stock prices (LOGKSE) and exchange rate (LOGPK)-Pakistani Rupee vis-à-vis US Dollar- interactions in Pakistan. This study employs a multivariate VAR-GARCH model using monthly data from January 2012 to October 2020. The results of the Johansen cointegration test show that there is no relationship between Foreign Exchange Market and Stock Market in the long run. In the short-run, stock exchange returns are affected slightly negatively by the changes in the foreign exchange market, but the foreign exchange market does not seem to be affected by the ups and downs of the stock exchange. The VAR model and Granger Causality show that both markets are strongly influenced by their own lagged values rather than by the lagged values of one another and show weak or no correlation between the two markets. Volatility persistence is observed in both the stock and foreign exchange markets, implying that shocks and past period volatility are major drivers of future volatility in both markets. Thus greater uncertainties today will induce panic and consequently generate higher volatility in the future period. This phenomenon has been observed many times on Pakistan Stock Exchange especially. The results have important implications for local international investors in portfolio diversification decisions and risk hedging strategies.

• 한국CDE학회논문집
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• 제11권3호
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• pp.164-171
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• 2006

As collaborative design and configuration design are of increasing importance in product development, it becomes essential to exchange the feature and parametric CAD models among participants. A history-based parametric method has been proposed and implemented. But each translator which exchanges the feature and parametric information tends to be heavy because to implement duplicated functions such as the identification of the selected geometries, mapping between features which have different attributes. Furthermore. because the history-based parametric translator uses the procedural model as the neutral format, which is the XML macro file, the history-based parametric translators need a geometric modeling kernel to generate an internal explicit geometric model. To ease the problem, we implemented a shared integration platform, the TransCAD. The TransCAD separates translators from the XML macro files. The translators for various CAD systems need to communicate with only the TransCAD. To support the communication with the TransCAD, we exposed the functions of the TransCAD by using the Automation APIs, which is developed by Microsoft. The Automation APIs of the TransCAD consist of the part modeling functions, the data extraction functions, and the utility functions. Each translator uses these functions to translate a parametric CAD model from the sending CAD system into the XML format, or from the in format into the model of the receiving CAD system This paper introduces what the TransCAD is and how it works for the exchange of the feature and parametric models.