• The Journal of the Convergence on Culture Technology
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• 제9권3호
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• pp.19-26
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• 2023

The impact of environmental, social and governance (ESG) performance on investors' decision-making is growing. Investors' focus on the financial performance of firms in the past is expanding to the non-financial performance of the interests of stakeholders surrounding firms. Against this backdrop, this study conducted a panel regression analysis on firms evaluated by Korea Corporate Governance Service to analyze the impact of ESG performance, a firm's non-financial performance, on firm risk. According to the analysis, ESG performance has a negative (-) effect on all three firm risks (systematic risk, unsystematic risk, and total risk), indicating that the stakeholder theory and risk management theory are supported. The implications of this study are: First, ESG reduces not only unsystematic risk but also broad and indiscriminate systematic risk; Second, investors can reduce the risk of their investment portfolio by executing ESG investments; Third, companies can achieve stable financial performance even in adverse circumstances by utilizing the insurance function of ESG management; Lastly, the government can enhance the stability of the financial market while improving the financial soundness of firms through reasonable ESG-related regulations.

• The Korean Journal of Financial Management
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• 제22권2호
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• pp.189-212
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• 2005

This study examines the interactions between KTB spot and futures markets using the daily prices from March 4, 2002 to January 31, 2005. We use Granger causality test, impulse Response Analysis and Variance Decomposition through vector autoregressive analysis (VAR). However, considering the long-term relationships between the level variables of KTB spot and futures, we introduced Vector Error Correction Model. The main results are as follows. According to the results of Granger-causality test and impulse response analysis, we find that the yields of KTB forward have a great influence on the change of KTB spot but not vice versa. In terms of volatility analysis, there is no inter-dependence between KTB forward and spot markets. In the variance decomposition analysis we find that the short-term KTB forward has much more impact on the KTB spot market than the long-term KTB forward does. We think these results are meaningful for bond investors who are in charge of capital asset pricing valuation, risk management and international portfolio management.

• The Journal of the Korea Contents Association
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• 제13권4호
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• pp.440-451
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• 2013

Advancement of science technology, combined with other technologies including smart clothing, enables value added product developments and market creation. Accordingly, it became necessary to identify technology trends promptly and to prepare future technology road map. For this purpose, many bibliometric analysis using thesis and patents have been made. However, few such attempts are made in clothing study. Thus, the study examined the latest technology trends and future technology development directions of smart clothing from empirical bibliometric analysis based on smart clothing patent documents. In addition, comparative analysis was made about the market leadership and technology development capability of core sectors by countries utilizing market reach index expressed as patent families and technology development index. The study revealed that overall smart clothing technology development trends has been continuously increasing since 2000. Also the results confirmed that it is in the development stage from the fact that each year the number of patents and patent applicants in portfolio analysis also has been increasing. In addition, comparative results of patent market share and market reach index, with the highest in electronics/ICT technology sectors, indicated that this is the technology sector with competitive acquisition of comparatively advanced technology and market expansion. The analysis methodology of economic value of technology including the presented market reach index in this report is expected to be utilized in the process to identify the current positioning of core technology and future development direction.

• The Journal of Korean Academic Society of Nursing Education
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• 제3권
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• pp.99-116
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• 1997

In response of the increasing demand for professional degree in nursing, some university in Korea offers RN-BSN program for R. N. from diploma in nursing. However, RN-BSN program in Korea is in formative period. Therefore, the purpose of this survey study is for the comparative analysis of RN-BSN curriculum in Korea and U.S.A. In this study, subjects consisted of 18 department of nursing in university and 5 RN-BSN programs in Korea and 18 department of nursing in university and 12 RN-BSN programs in U.S.A. For earn the degree of Bachelor of Science in Nursing, the student earns 134 of mean credits in U.S.A., whereas 150.3 of mean credits in Korea. The mean credit for clinical pratice is 30.1 in U.S.A., whereas 23.9 in Korea. Students are assigned to individually planned clinical experiences under the direction of a preceptor in U.S.A. In RN-BSN program, total mean credits through lecture and clinical practice for earn the degree of BSN is 35.5(lecture : 27.7, practice ; 7.8)in U.S.A., whereas,48.1 (lecture;42.1, practice;6.0) in Korea. RN-BSN program can be taken on a full-or-part time basis in U.S.A., whereas didn't in Korea. Especially, emphasis is place on the advanced nursing practicum that focus on the role of the professional nurse in providing health care to individuals, families, and groups in community setting in U.S.A. 27.7 of mean credits was earned through lecture in U.S.A., whereas 42.1 of mean credits in Korea. It means that RN-BSN program in Korea is the lesser development in teaching method and appraisal method than in U.S.A. Students of RN-BSN program in U.S.A. can earns credit through CLEP, NLN achievement test, portfolio review session etc as well as lecture. Therefore, the authors suggests some recommendations for the development of curriculum of RN-BSN program in Korea based on comparative analysis of RN-BSN curricula in U.S.A. and Korea. 1. The curriculum of RN-BSN Program in nursing was required to do some alterations. Nursing care, today, is complex and ever changing. According to change of public need, RN-BSN curriculum intensified primary care program in community setting, geriatric nursing, marketing skill, computer language. 2. The various and new methods of earning credit should be developed. That is, the students will earn credits through the transfer of previous nursing college credits, accredited examination of university, advanced placement examination, portfolio review session, case study, report, self-directed learning and so on. Flexible teaching place should ile offered. 3. Flexible teaching place should be offered. The RN-BSN curriculum should accommodate each RN student's geographical needs and school/work schedule. Therefore, the university should search a variety of teaching places and the RN students can obtain their degrees comfortably throughout the teaching place such as lecture room inside the health care agency and establishment of the branch school in each student's residence area. 4. The RN-BSN program should offer a long distance education to place-bound RN student in many parts of Korea. That is, from the main office of university, the RN-BSN courses are delivered to many areas by Internet, EdNet (satellite telecommunication) and other non-traditional methods. 5. For allowing RN student to take nursing courses, program length should be various, depending upon the student's study/work schedule. That is, the various term systems such as semester, three terms, quarter systems and the student's status like full time or part time should be considered. Therefore, the student can take advantage of the many other educational and professional opportunities, making them available during the school year.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• 제14권2호
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• pp.1-13
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• 2019

As a way to find new and innovative technologies, many companies have invested in and acquired skilled startups. Because startups are usually small in size and have a small history of past business experience, there are many risks involved in acquiring them as they have limited technical skills and business feasibility verification methods. Thus, venture capital plays an important role in discovering and investing competitive startups. While Independent Venture Capital generally values financial returns, Corporate Venture Capital, which plays investment roles in the firm, values business synergies with the parent company from a strategic perspective. In an industry sector where development of technology is rapid and whether new technology is held determines a company's competitiveness, existing companies incorporate startups with innovative technologies into their investment portfolios, collaborate together, and take over for comprehensive cooperation. In addition, new investments and acquisitions are carried out through the management of portfolio companies to obtain and utilize industry information. In this paper, major U.S. companies listed in the U.S. verified their investment activities through corporate venture capital and their impact on parent companies and startups through regression, while the parent company's acquisition performance was analyzed through an event study based on a stock price analysis. The criteria for startup were defined as companies with less than 12 years of experience, and the analysis showed that the parent companies with corporate venture capital with a larger number of investments actively take over startups. In addition, increasing corporate venture capital's financial investment activities shows a negative impact on the parent companies' acquisition activities, and the acquisition performance increased when the parent companies took over startups in its portfolio.

• The Journal of Engineering Geology
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• 제20권3호
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• pp.257-269
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• 2010

We analyzed patent trends regarding stabilization technology for steep slope hazards, focusing on patents applied for and registered in Korea, the USA, Japan, and Europe. The technology was classified into four groups at the second classification step: prediction techniques, instrumentation techniques, countermeasure/reinforcement/mitigation techniques, and laboratory tests. A total of 2,134 patents were selected for the final effective analysis. As a result of portfolio analysis using the correlation between the number of patents and the applicant for each patent, the Korean and USA situations were classified as belonging to the developing period, and the Japanese and European situations were classified as belonging to the ebbing period. In particular, patent activity in Korea has been enlivened by government-led research. As a result of technology analysis at the second classification step, prediction techniques arising from Japan are evaluated as a competitive power technique, and laboratory tests arising from the USA are evaluated as a competitive power technique. However, prediction techniques and laboratory tests arising from Korea are evaluated as a blank technique. According to the prediction results regarding future research and developments, a new finite element analysis method and a numerical model should be established as part of prediction techniques, as well as sensors, and hazard prediction should be developed by integrating information and equipment using IT technology as part of instrumentation techniques. In addition, improvements to existing structures for erosion control and the development of new slope-reinforcement methods are required as part of countermeasure/reinforcement/mitigation techniques, and new laboratory apparatus and methods with an optimizing structure should be developed as part of laboratory tests.

• Journal of the Korea Academia-Industrial cooperation Society
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• 제21권1호
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• pp.649-655
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• 2020

This study determined effective educational strategies by investigating and analyzing the related educational demands for SMEs (small and medium-sized enterprises) in the 4th Industrial Revolution based area of smart farms. In order to derive the approprate educational strategies, Importance-Performance Analysis (IPA) and Borich's Needs Assessment Model were conducted based on the smart farm technological field. As a result, the education demand survey showed high demand for production systems and intelligent farm machinery. In detail, Borich's analysis showed the need for pest prevention and diagnosis technology (8.03), network and analysis SW linkage technology (7.83), and intelligent farm worker-agricultural power system-electric energy hybrid technology (7.43). In contrast, smart plant factories (4.09), lighting technology for growth control (4.46) and structure construction technology (4.62) showed low demands. Based on this, the IPA portfolio shows that the network and analysis SW linkage technology and the CAN-based complex center are urgently needed. However, the technology that has already been developed, such as smart factory platform development, growth control lighting technology and structure construction technology, was oversized. Based on these results, it is possible to strategically suggest the customized training programs for industrial sectors of SMEs that reflect the needs for efficiently operating smart farms. This study also provides effective ways to operate the relevant training programs.

• Journal of Intelligence and Information Systems
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• 제23권4호
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• pp.147-168
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• 2017

There have been many studies on accurate stock market forecasting in academia for a long time, and now there are also various forecasting models using various techniques. Recently, many attempts have been made to predict the stock index using various machine learning methods including Deep Learning. Although the fundamental analysis and the technical analysis method are used for the analysis of the traditional stock investment transaction, the technical analysis method is more useful for the application of the short-term transaction prediction or statistical and mathematical techniques. Most of the studies that have been conducted using these technical indicators have studied the model of predicting stock prices by binary classification - rising or falling - of stock market fluctuations in the future market (usually next trading day). However, it is also true that this binary classification has many unfavorable aspects in predicting trends, identifying trading signals, or signaling portfolio rebalancing. In this study, we try to predict the stock index by expanding the stock index trend (upward trend, boxed, downward trend) to the multiple classification system in the existing binary index method. In order to solve this multi-classification problem, a technique such as Multinomial Logistic Regression Analysis (MLOGIT), Multiple Discriminant Analysis (MDA) or Artificial Neural Networks (ANN) we propose an optimization model using Genetic Algorithm as a wrapper for improving the performance of this model using Multi-classification Support Vector Machines (MSVM), which has proved to be superior in prediction performance. In particular, the proposed model named GA-MSVM is designed to maximize model performance by optimizing not only the kernel function parameters of MSVM, but also the optimal selection of input variables (feature selection) as well as instance selection. In order to verify the performance of the proposed model, we applied the proposed method to the real data. The results show that the proposed method is more effective than the conventional multivariate SVM, which has been known to show the best prediction performance up to now, as well as existing artificial intelligence / data mining techniques such as MDA, MLOGIT, CBR, and it is confirmed that the prediction performance is better than this. Especially, it has been confirmed that the 'instance selection' plays a very important role in predicting the stock index trend, and it is confirmed that the improvement effect of the model is more important than other factors. To verify the usefulness of GA-MSVM, we applied it to Korea's real KOSPI200 stock index trend forecast. Our research is primarily aimed at predicting trend segments to capture signal acquisition or short-term trend transition points. The experimental data set includes technical indicators such as the price and volatility index (2004 ~ 2017) and macroeconomic data (interest rate, exchange rate, S&P 500, etc.) of KOSPI200 stock index in Korea. Using a variety of statistical methods including one-way ANOVA and stepwise MDA, 15 indicators were selected as candidate independent variables. The dependent variable, trend classification, was classified into three states: 1 (upward trend), 0 (boxed), and -1 (downward trend). 70% of the total data for each class was used for training and the remaining 30% was used for verifying. To verify the performance of the proposed model, several comparative model experiments such as MDA, MLOGIT, CBR, ANN and MSVM were conducted. MSVM has adopted the One-Against-One (OAO) approach, which is known as the most accurate approach among the various MSVM approaches. Although there are some limitations, the final experimental results demonstrate that the proposed model, GA-MSVM, performs at a significantly higher level than all comparative models.

• Journal of Korea Port Economic Association
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• 제37권1호
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• pp.103-119
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• 2021

Ports in Korea have been increasing in terms of volume while they have performed functions and roles such as industrial ports in promoting industries of their hinterlands as well as commercial ports supporting imports and exports. Nevertheless, specialization degree is different from port to port by cargo type and the changes in cargo volume. This study aims to analyze the structural changes and the degree of concentration and specialization by cargo type and port between 2001 and 2020. Top 10 ports were analyzed in terms of traffic volume by categorizing liquid, dry, general cargo and containers. HHI(Herfindahl-Hirschman Index), LQ(Location Coefficient), and shift-share analysis were employed in order to identify the degree of concentration, specialization and changes in cargo volume by port and cargo type. As a result of the analysis, the degree of port concentration and specialization for each cargo of 4 categories have maintained a high level, and no significant difference were found in fluctuations over the past 20 years. As a result of calculating the flucation of cargo volume through the shift-share analysis, the growth rate of liquid cargo was high in Yeosu Gwangyang Port, Pyeongtaek Dangjin Port in dry cargo, and Busan Port in general cargo and container ports. The result implies that it is not expected that the structural changes including degree of cargo concentration, specialization and relative fluctuation of cargo volume is significant in Korean ports in the future since the effects of economies of scale and clustering were achieved to the great degree.

• Journal of Digital Convergence
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• 제16권9호
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• pp.125-132
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• 2018

Despite the fact that corporate real estate ratio accounts for a considerable proportion of the assets, such researches and studies are lacking and there is not enough such policies to utilize real estate more effectively in Korea. In particular, after IFRS adoption, the owner and manager needs to utilize corporate real estate assets as the assets are revalued. In this study, we analyzed the relationship between corporate governance, corporate real estate holding policies and firm value based on financial data from 2010 to 2016. As a result of regression analysis, this study showed that more Dictatorship Portfolio, the higher proportion of corporate real estate holdings. Next, the higher proportion of corporate real estate holdings, the lower the firm value. This study suggests that corporate real estate is recognized an important factor and should have proper holding ratio. I will continue my research to show that the corporate holding policies are an important asset impact by verifying the mediating effect between corporate governance and firm value in the future.