• The Journal of Asian Finance, Economics and Business
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• v.3 no.3
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• pp.17-26
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• 2016

This study investigates daily stock market anomalies in Chinese stock market, using nine most representative stock indices over an eleven year time period spanning from pre-financial crisis era to six years into the financial crisis. This research is the first to test the presence of the day of the week effect on stock returns in the Chinese stock exchanges during the financial crisis. We find that the day of week effects have been strongly significant in Chinese stock exchanges since 2004. However, unlike the previously found negative Monday effect and positive Friday effect in the U.S., Chinese stock market shows positive returns on Mondays and negative returns on Tuesdays. More importantly, the negative Tuesday effect is only significant after the inception of financial crisis. The results indicate a positive effect on Mondays and a negative effect on Thursdays. More importantly, we find a negative Tuesday effect during the financial crisis, which suggests a spillover of the Monday effect from the U.S. stock market. Our results shed some light on the degree of market efficiency in the largest emerging capital market in the world, and its increasingly close relationship with the U.S. capital market.

• Korean Journal of Logic
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• v.20 no.1
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• pp.1-19
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• 2017

In modern cosmology, it is controversial whether the existence of human consciousness can be used as evidence to support the hypothesis that many parallel universes are actualized. In this paper, we want to explore the nature of self-consciousness information that I am awake now. Consider the following experiment participating Al and Bob. We throw a fair coin on Sunday. If the coin lands heads we wake up just one of Al and Bob on Monday. If the coin lands tails we wake up both of Al and Bob. On Monday, at least one of Al and Bob will wake up, to what degree ought they believe that the outcome of the coin toss is heads? We will argue that the correct answer to this question is 1/3. To this end, we will argue the awakened person's information that "I am awake" is given to himself through a random procedure.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.2
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• pp.15-23
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• 2021

This study investigates the presence of the day-of-the-week anomaly in exchange rate for 30 developing countries with free floating exchange rate regimes using daily data from January 2, 2011 to December 31, 2019. First, we apply the GARCH panel to estimate the intraday effect for all the sampled countries. Second, we run poolability test to check whether the coefficients of the GARCH panel are the same for all countries sampled. The result of poolability test rejects the homogeneity assumption. This implies that our sample countries contain heterogeneity. Third, we apply mean-group estimation by averaging the coefficients for all individual GARCH estimations. Fourth, we divided our sample of developing countries into three groups based on capital restriction index for the reason that the effect of monetary policy on the exchange rate depends on the degree of capital account liberalization. The empirical evidence for the return equation suggests that Mondays are connected with lower volatility whereas Thursdays experiences higher return compared to Tuesdays. The lowest estimated coefficient for full sample, group 1 and group 2, is Friday, but for group 2 is Thursday. We find similar result for the volatility equations, which show that Monday returns are lower compared to Tuesday.

• Journal of the Architectural Institute of Korea Structure & Construction
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• v.35 no.9
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• pp.207-214
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• 2019

Natural ventilation through openings such as windows in school buildings is an efficient resource for natural cooling during the intermediate season of the year. Because the natural ventilation uses the wind outside the building, the amount of ventilation will depend not only on the wind speed and wind direction but also on the window layout and open window ratio. Therefore, in this study, the natural ventilation plans of school classroom windows are divided into 4 types and 8 cases as shown in Table 1. The characteristics of cooling effect by natural ventilation are simulated by applying Energyplus's Airflow Network Model and the comfort of the occupants is evaluated by the number of hours included in the 80% acceptability range of the ASHRAE Standard 55-2010 adaptive comfort model for the weekdays (Monday-Friday) and the class hours (08: 00-19: 00). Based on the analysis results of the above, this study presents basic data related to classroom cooling plan using intermediate season natural ventilation.

• Publications of The Korean Astronomical Society
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• v.38 no.3
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• pp.111-123
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• 2023

In this study, quantitative analysis is attempted on data collected from Chilgapsan Observatory Star Park in Cheongyang-gun, Chungcheongnam-do. The aim of this experimental study in which quantitative analysis of the Astronomical Science Museum in Korea is conducted is to investigate its current situation and secure basic data. As of July 31, 2023, it has had 283,931 cumulative visitors in total. It had the largest number of visitors when it opened (2009 year), after which their number reduced steadily until the pandemic (COVID-19, 2020-2022). Recently, however, the number of visitors has increased. Generally, the number of visitors is highest in August (20.8%) and least in April (4.1%). The visit rate is higher on weekends (Saturday and Sunday) than on weekdays (Monday-Friday), and groups comprise only about 5.3% of the total number of visitors. Moreover, it can be confirmed that the number of visitors increases sharply during events. Finally, it was confirmed that the visit rate was unaffected by weather conditions. Considering these results, we propose the following strategies: 1) Establish a special program that reflects "the weekend effect." 2) Prepare a plan to attract group visitors during the weekdays using "the event effect." 3) Arrange alternative programs (e.g., experiential activities) that can be conducted indoors regardless of weather conditions. We think that our findings will help establish a roadmap for the direction the Astronomical Science Museum should take and aid in preparing a strategic foundation to preemptively respond to unexpected situations (e.g., pandemics).

• The Journal of Fisheries Business Administration
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• v.40 no.2
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• pp.49-70
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• 2009

This study proviedes GARCH model(Bollerslev, 1986) to analyze the structural characteristics of price volatility in domestic aquacultural fish market of Korea. As a case study, flatfish and rock-fish are analyzed as major species with relatively high portion in an aspect of production volume among fish captured in Korea. For analyzing, this study uses daily market data (dating from Jan 1 2000 to June 30, 2008) published by the Noryangjin Fisheries Wholesale Market which is located in Seoul of Korea. This study performs normality test on trading volume and price volatility of flatfish and rock-fish as an advanced empirical approach. The normality test adopted is Jarque-Bera test statistic. As a result, first, a null hypothesis that "an empirical distribution follows normal distribution" was rejected in both fishes. The distribution of daily market data of them were not only biased toward positive(+) direction in terms of kurtosis and skewness, but also characterized by leptokurtic distribution with long right tail. Secondly, serial correlations were found in data on market trading volume and price volatility of two species during very long period. Thirdly, the results of unit root test and ARCH-LM test showed that all data of time series were very stationary and demonstrated effects of ARCH. These statistical characteristics can be explained as a reasonable ground for supporting the fitness of GARCH model in order to estimate conditional variances that reveal price volatility in empirical analysis. From empirical data analysis above, this study drew the following conclusions. First of all, from an empirical analysis on potential effects of seasonality and the day of week on price volatility of aquacultural fish, Monday effects were found in both species and Thursday and Friday effects were also found in flatfish. This indicates that Monday is effective in expanding price volatility of aquacultural fish market and also Monday has higher effects upon the price volatility of fish than other days of week have since it has more new information for weekend. Secondly, the empirical analysis led to a common conclusion that there was very high price volatility of flatfish and rock-fish. This points out that the persistency parameter($\lambda$), an index of possibility for current volatility to sustain similarly in the future, was higher than 0.8-equivalently nearly to 1-in both flatfish and rock-fish, which presents volatility clustering. Also, this study estimated and compared and model that hypothesized normal distributions in order to determine fitness of respective models. As a result, the fitness of GARCH(1, 1)-t model was better than model where the distribution of error term was hypothesized through-distribution due to characteristics of fat-tailed distribution, was also better than model, as described in the results of basic statistic analysis. In conclusion, this study has an important mean in that it was introduced firstly in Korea to investigate in price volatility of Korean aquacultural fishery products, although there was partially a limited of official statistic data. Therefore, it is expected that the results of this study will be useful as a reference material for making and assessing governmental policies. Also, it is looked forward that the results will be helpful to build a fishery business plan as and aspect of producer, and also to take timely measures to potential price fluctuations of fishery products in market. Hence, it is advisable that further studies related to such price volatility in fishery market will extend and evolve into a wider variety of articles and issues in near future.

• The Korean Journal of Elementary Counseling
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• v.4 no.1
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• pp.191-214
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• 2005

This study aimed to examine the effect of Cyber Group Counseling on the depression of internet addiction children in elementary school. In this study, the following questions were posed: How effective is the Cyber Group Counseling on the depression of internet addiction children? In this study, subjects were 24 students who got 14 points over in KAIS and got 11 points over in CDI among 245 of 5th, 6th grade students in Daegu and Chongdo Kyungbuk who did Internet addiction scale for Korean Adolescent(KAIS) and Children's Depression Inventory(CDI). They were divided into experimental group and comparative group. Subjects in experimental group practiced Cyber Group Counseling for 12 sessions(60 minutes per session) for 6 weeks. But the control group had no treatment during the period. During the experiment, 2 of each groups were left out. The counseling schedule and hor· to join the Cyber Group Counseling clinic were notified by e-mail. The Cyber Group Counseling was on every Monday and Thursday. The Cyber Group Counseling progressed by internet chatting, bulletin board, e-mail and a slip paper counsel. The collected data were analyzed with SPSS/PC+ (statistical package for the social science/personal computer) program and t -test. The findings of this study were as follows: First, the depression of internet addiction children who joined in Cyber Group Counseling was significantly reduced than the others. So, Cyber Group Counseling was proved one of the useful psychotherapy approach. Second, the subordinate of depression including behavioral disturbance and anhedonia was significantly reduced. Third, the subordinate of depression including the dysphoric mood, the self-deprecation and physiological symptoms was reduced. But it was not statistically significant.

• PNF and Movement
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• v.17 no.2
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• pp.167-175
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• 2019

Purpose: This study aims to determine the effect of Jeonbuk tri-pull taping and proprioceptive neuromuscular facilitation (PNF) exercise on the shoulder's active range of motion, pain, subluxation, upper extremity function, and activities of daily living in patients with stroke. Methods: In this study, Jeonbuk tri-pull taping and PNF exercise were applied to three patients with stroke and subluxation. The tape was removed and new tape applied for two days every Monday, Wednesday, and Friday over six consecutive weeks. PNF exercise was applied five times a week for six weeks. To measure the range of motion, a smart phone clinometer application was used, and the degree of pain was measured using a visual analogue scale (VAS). A jig measuring method was employed to measure the distance of subluxation. The Fugl-Meyer Assessment (FMA) was used to evaluate arm function, and the modified Barthel Index (MBI) was employed to evaluate the activities of daily living. Results: The shoulder's active range of motion was improved in the patients compared to the range of pre-tests, and the pain and subluxation distance were reduced compared to those of pre-tests. Arm function and activities of daily living were increased compared to those of pre-tests. Conclusion: The study results verified that Jeonbuk tri-pull taping and PNF exercise are useful when applied to patients with subluxation and stroke.

• Journal of Global Scholars of Marketing Science
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• v.16 no.1
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• pp.117-141
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• 2006

Daily sales volume in retailers seems to be changed because of five-days-work in a week resulting in growth of leisure time in Korea recently. The day of the week effect of sales volume that can not be theoretically explained, which sales pattern varies depending on days systematically and consistently, is so important. Especially the day of the week effect of sales volume exists in which retail branch and the extents of the day of the week effect from the perspective of marketing in retailing is very important. Thus, the purpose of this study was to investigate whether the day of the week effect of sales volume exists in men's clothing retailers and if so, there is difference in daily sales volume. There was insufficient researches in the field of anomaly such as the day of the week effect of sales volume in marketing. For this reason, this study has drawn upon research findings of finance, general demand theory, and previous studies of the day of the week effect in stock markets. In doing so, these works are referenced in theoretical background and applicability in retailing market of this study. This study empirically investigated the day of the week effect of sales volume through the revenues of a men's clothing retailers (P company) in past five years. As the result of this study, the day of the week effect of sales volume existed in men's clothing retailers and the day of the week effect showed positive from Monday to Sunday, which means Sunday, the biggest. Also, the day of the week effect by season was different. The result of this study is expected to provide some helpful evidence that offers effective operational strategies to retailers.

• The Korean Journal of Franchise Management
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• v.9 no.3
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• pp.19-29
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• 2018

Purpose - Due to the increase in coffee consumption and competition, domestic coffee franchise companies are currently entering the overseas market. Therefore, coffee franchise companies are pursuing a variety of marketing strategies to meet customer needs and gain competitive advantage in overseas markets. From this perspective, overseas franchise companies need to ensure that their servicescapes meet the needs of their overseas customers. For these purposes, the study is to identify the impact servicescapes on customer satisfaction and customer loyalty focused on Global Coffee Franchise Company "C", which extended its business worldwide in Mongolia. Research design, data, and methodology - The data were collected from customers who had visited the stores of 'C' company in Ulaanbaatar, Mongolia. 435 valid questionnaires collected through online survey coded and analyzed using frequency, confirmatory factor analysis, correlations analysis, and structural equation modeling with SPSS 24 and SmartPLS 3.0. Result - Firstly, seating comfort, facility aesthetics, and cleanliness, ambient conditions among servicescapes influenced customer satisfaction. Secondly, servicescapes didn't affect the loyalty directly. Third, customer satisfaction had positive effect on loyalty. Fourthly, cleanliness which was ranked lower in Korea had a great effect on customer satisfaction in Mongolia. Fifthly, IPMA(Importance-performance map analysis) shows that the importance of servicescapes is higher for women than for men, and facility aesthetics for female and cleanliness is the most important for male. Conclusions - The results of this study show that there is a positive (+) effect on customer satisfaction in order of cleanliness, ambient conditions, aesthetics, and seating comfort. Therefore, franchise companies considering or advancing into Mongolia should consider importance in order of cleanliness, ambient conditions and aesthetics when entering Mongolia market. For example, franchise managers should select Monday as a "clean day," and all merchants should spend all of their open hours and keep their stores clean in accordance with the head office manual. In addition, franchise managers need to hire a VMD (visual merchandising) experts to build up a physical environment that will effectively highlight the space-specific display of the store so that Mongolian local customers can have a satisfactory climate and aesthetics. And, the IMPA analysis between servicescapes and customer satisfaction shows that women are more susceptible to servicescapes than men. Especially, in the case of women, the importance of esthetics is high, but the performance is low. Thus, if the aesthetics are actively improved, customer satisfaction can be effectively increased.