• Title/Summary/Keyword: Power exchange

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Study on Lead-Lag Relationship between Individual Spot and Futures of Communication Service Industries: Focused on KT and SK Telecom (통신서비스 업종 개별주식 현물과 선물 간 선도-지연 효과: 한국통신과 SK텔레콤을 중심으로)

  • Kim, Joo Il
    • Journal of Service Research and Studies
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    • v.5 no.1
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    • pp.91-103
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    • 2015
  • We examine the information transmission between the KT Spot and the KT Futures Index, the SK Telecom Spot and the SK Telecom Futures Index, based on the returns data offered by the Korea Exchange. The data includes daily return data from 1 January 2012 to 31 December 2014. Utilizing a dynamic analytical tool-the VAR model, Granger Causality test, Impulse Response Function and Variance Decomposition have been implemented. The results of the analysis are as follows. Firstly, results of Granger Causality test suggests the existence of mutual causality the KT Futures Index and the SK Telecom Futures Index precede and have explanatory power the KT Spot and the SK Telecom Spot However the results also identified a greater causality and explanatory power of the KT Spot and the SK Telecom Spot over the KT Futures Index and the SK Telecom Futures Index. Secondly, the results of impulse response function suggest that the KT Futures Index show immediate response to the KT Spot and are influenced by till time 4. From time 2, the impact gradually disappears. Also the SKT Futures Index show immediate response to the SKT Spot and are influenced by till time 4. From time 2, the impact gradually disappears. Lastly, the variance decomposition analysis shows that the changes of return of the KT Spot and SKT Spot are dependent on those of the KT Futures Index and the SK Telecom Futures Index. This implies that returns on the KT Spot and SKT Spot have a significant influence over returns on the KT Futures Index and the SK Telecom Futures Index. It contributes to the understanding of market price formation function through analysis of detached the KT Spot and the KT Futures Index, the SK Telecom Spot and the SK Telecom Futures Index.

The Feminine Factor of the Therapeutic Landscape by Water from a Perspective of the Japanese Hot Spring (일본 온천을 중심으로 본 물을 매개로 하는 치유의 경관에서의 여성적 요소)

  • Park, Sookyung
    • Journal of the Korean association of regional geographers
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    • v.22 no.3
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    • pp.529-552
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    • 2016
  • The purpose of this study is to examine the matter as to how the meaning of the physical therapeutic landscape by water, which is associated with physical, cultural, spatial, and economical aspects, appears in the space centering on women and is to look into the feminine factors in term of a rest area, consideration, and imagery for women. From a perspective of a rest area for women, the meaning of a physical aspect is remarkable and is materialized in thermal waters and bathing, atmosphere, subsidiary facilities and safe nightlife. According to these phenomena, female visitors are able to feel freedom, power, which can return themselves to the best condition by thermal waters, therapeutic equipments provided in a watering place continuously, safe protection and exchange with strangers with an open mind. And the cultural aspect of the therapeutic landscape by water is discovered in consideration for women. It is the fact that joins the Japanese culture based on consideration towards others to the traditional culture of hot springs by itself. For example, women can feel various pleasure, experience the protection or the support by someone and pursuit not only physical beauty but also mental or spiritual one through welcome bus, service of Okami san and Nakai san, decorations, funny installments and secure of private space. Lastly, the imagery of women can be identified in cultural, spatial, and economical aspects extensively somewhat and is embodied by advertising mediums, signs of hot springs, shrines, objets and products variously. It is made into healthiness, relaxation, comfort, familiarity and image that are realized to love or are connected to a happy marriage life. To sum up the results, the healing or therapeutic elements for women appearing in hot springs are gathered to some abstraction such as freedom, safe, effect beyond the body, pleasure, durability of healing or therapy, beauty and hope; furthermore, if these abstraction are combined each other closely, the effect of healing or therapy, which transforms anxiety into a stable condition, can be exposed externally.

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VARIETAL DIFFERENCES IN DISTRIBUTION AND PHYSIOLOGICAL CHARACTERISTICS OF RICEROOT (수도근(水稻根)의 분포(分布) 및 생리적(生理的) 특성(特性)에 관(關)한 품종간차이(品種間差異))

  • Park, H.;Park, Y.S.;Kim, Y.W.;Shin, C.S.;Kim, Y.S.
    • Applied Biological Chemistry
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    • v.15 no.1
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    • pp.49-57
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    • 1972
  • Varietal difference in root distribution and other root characteristics were investigated under fold and water culture condition. The results were as follows: 1. IR667 showed funnel type of root distribution in soil profit while Jinheung had barrel type, and each type appearance was more distinguishable with fertilizer application. 2. Root weight per tiller was smaller in IR667 than in Jinheung and IR667 had more root in 0 to 5cm of soil depth but Jinheung had more in 5 to l0cm depth. 3. Horizontal distribution of root was dencer near to stem base without fertilizer than with fertilizer in both IR667 and Jinheung indicating structural construction for intensive nutrient uptake. Between varieties this 'dence to stem base' trend accompaning 'dence to wide spacing side' was greater in IR667 without fertilizer and these were quite true with fertilizer in Jinheung. 4. The decreasing rates of root and ear weight by fertilizer application were greater in IR667 than in Jinheung. This and other characteristics indicated that the root of IR667 is likely to be panicle-number type comparing with Jinheung. 5. The root of IR667 had lower oxidizing power of ${\alpha}-naphthylamine$ than that of Jinheung indicating weaker resistance to reductive soil but cation exchange capacity of water-cultured root was higher in IR667 suggesting stronger nutrient uptake. 6. The content of phosphorus and especially potassium in root were higher with fertilizer but lower without fertilizer in IR667 than in Jinheung indicating that IR667 is more sensitive to root environment. 7. The contents of N, K and CEC were increasing toward root tip while P content was decreasing. The root from surface soil had higher N and K content than that from subsoil. The contents of N,P,K, and CEC of root at harvesting stage were about 1.0%, 0.1%, 0.5% and 15me/100g at dry weight base, respectively.

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Effect of Fly Ash Fertilizer on Paddy Soil Quality and Rice Growth (비산재로 제조한 비료가 논토양 질과 벼 생육에 미치는 영향)

  • Oh, Se Jin;Yun, Hyun Soo;Oh, Seung Min;Kim, Sung Chul;Kim, Rog Young;Seo, Yung Ho;Lee, Kee Suk;Ok, Yong Sik;Yang, Jae E.
    • Journal of Applied Biological Chemistry
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    • v.56 no.4
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    • pp.229-234
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    • 2013
  • Coal ash can be added to agricultural soils to increase the chemical properties of soil such as pH, cation exchange capacity and nutrient availability of - B, Ca, Mo etc-. Therefore, the main purpose of this study was to evaluate the feasibility of fly ash as a soil amendment in paddy soils. Selected fly ash was mixed with bentonite and calcium hydroxide at the ratio of 80:15:5 (w/w) and manufactured as a pellet type at the size of 10 mm. Field experiments were conducted to evaluate the effects of fly ash fertilizer on the soil quality and crop growth compare to the control (no fertilizer) and, - traditional fertilizer. Results showed that soil pH and organic matter in paddy soils after applying the manufactured fly ash fertilizer were not increased compared to the other two treatments. However, the concentration of available phosphate and silicate in paddy soils were higher than those of the control and traditional fertilization. With regard to crop growth, no significant difference was observed between three different treatments. However, the content of protein in the rice grain cultivated with the fly ash fertilizer was higher than in the rice cultivated by other two treatments. Overall, fly ash fertilizer could increase the concentration of available silicate and phosphate in the paddy soil and improve the rice quality. In conclusion, fly ash can be utilized in agricultural soils as soil amendment, especially in the rice paddy soil.

Studies on Determinant Factors of SCM Performance: From the Supplier Perspective (SCM 성과 결정요인에 관한 통합적 연구: 공급업체 관점으로)

  • Park, Kwang-Oh;Chang, Hwal-Sik
    • Asia pacific journal of information systems
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    • v.21 no.1
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    • pp.1-27
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    • 2011
  • In an attempt to cope with widespread, dynamic, and accelerating changes in both internal and external business environments, companies often utilize information technologies such as SCM(Supply Chain Management). To date, SCM research has mainly focused on the effects of dynamic factors on SCM success and emphasized adoption strategies and critical success factors. Consequently, the effects of more static factors such as interdependency between SCM partners have been largely ignored. The purpose of this study, therefore, is to examine the effects of both dynamic and static factors on SCM performance by controlling for information quality and partnership quality. The five factors examined in this study include innovative ness, mutual dependency, quality of information, partnership quality, and SCM performance. All factors were examined from the perspective of part suppliers, except the mutual dependency which was examined from two aspects: supplier's dependency on customer and customer's dependency on supplier. Data was collected through five hundred survey questionnaires distributed to the part supplier companies that have implemented SCM systems for at least one year. As a result, a total of 170 valid responses were obtained. A structural equation research model was fitted using SAS 9.1.3 and SMART-PLS 2.0. The results of this study can be summarized as follows. First, innovativeness positively affected SCM information quality. SCM partnership quality, and ultimately SCM performance. The path coefficient between innovativeness and information quality was 0.387, with a t-value of 3.528. Innovativeness also had a positively direct effect on partnership quality. The path coefficient was 0.351 with a t-value of 3.366. The total effect of innovativeness on partnership quality was significant, although its indirect effect on partnership quality by altering information quality was negligible. The total indirect effect of innovativeness on SCM performance by affecting information quality and partnership quality was significant with a p-value of 0.014. Innovativeness played an important role in determining SCM performance. Second, mutual dependency showed no significant effect on SCM information quality. This result contradicts the earlier assertion that the more dependent two companies are, the more accurate and timely the information they exchange ought to be. This study showed that this may not be the case; a partner may provide information of poor quality even when it is strongly dependent on the other. Mutual dependency showed significant effect on partnership quality. However, when the mutual dependency perceived by suppliers was divided into two parts, one being a supplier's dependency on its customer company and the other being a customer's dependency on the supplier, the latter showed a significant impact on the perceived SCM partnership quality. This result indicates that a customer company can hardly improve the partnership quality perceived by suppliers by making them more dependent. It improves only when the suppliers perceive that their partners, typically having more bargaining power, are more dependent on them. The overall effect of mutual dependency of any kind on SCM performance, however, was not significant. Although mutual dependency has been mentioned as an important static factor influencing almost every aspect of cooperation on a supply chain, its influences may not be as significant as it was initially perceived to be. Third, the correlation between information quality and partnership quality was 0.448 with a p-value of less than 0.001. Information quality had a path coefficient of 0.256 to partnership quality with a t-value of 2.940. The quality of information exchanged between partners may have an impact on their partnership quality. Fourth, information quality also had a significant impact on SCM performance with a path coefficient of 0.325 with a t-value of 3.611. In this study, SCM performance was divided into four categories: product quality, cost saving, service quality, and order fulfillment. Information quality has Significant impacts on product quality, cost saving and service quality, but not on order fulfillment. Fifth, partnership quality, as expected, had a significant impact on SCM performance. The path coefficient was 0.403 with a t-value of 3.539. Partnership quality, like information quality, had positive impacts on product quality, cost saving and service quality, but showed no impact on order fulfillment. It seemed that order fulfillment is the hardest category of performance that SCM can satisfy. One major limitation of this study is that it surveyed only the suppliers. To better understand the dual aspects of SCM, it is important to survey both suppliers and the assemblers, especially in pairs. This research, to our best knowledge, was the first attempt to study the level of dependency between the two groups by measuring the dual aspects of SCM and studying mutual dependency from the categories of suppliers and assemblers each.. In the future, a more comprehensive and precise measurement of SCM characteristics needs to be achieved by examining from both the supplier's and assembler's perspectives.

Preparation and Characterization of $Cu/Ce_xZr_{1-x}O_2$ Catalysts for Preferential Oxidation of Carbon Monoxide (일산화탄소의 선택적 산화반응을 위한 $Cu/Ce_xZr_{1-x}O_2$ 촉매의 합성과 특성분석)

  • Lee, So-Yeon;Lee, Suk-Hee;Cheon, Jae-Kee;Woo, Hee-Chul
    • Clean Technology
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    • v.13 no.1 s.36
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    • pp.54-63
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    • 2007
  • Even traces of CO in the hydrogen-rich feed gas to proton exchange membrane fuel cells (PEMFC) poison the platinum anode electrode and dramatically decrease the power output. In this work, a variety of catalytic materials consisting of $Cu/Ce_xZr_{1-x}O_2$, (x = 0.0-1.0) were synthesised, characterized and tested for CO oxidation and preferential oxidation of CO (PROX). These catalysts prepared by hydrothermal and deposition-precipitation methods. The catalysts were characterized by XRD, XRF, SEM, BET, $N_2O$ titration and oxygen storage capacity (OSC) measurement. The effects of composition of the support and degree of excess oxygen were investigated fur activity and $CO_2$ selectivity with different temperatures. The composition of the support markedly influenced the PROX activity. Among the various $Cu/Ce_xZr_{1-x}O_2$ catalysts having different composition, $Cu/Ce_{0.9}Zr_{0.1}O_2$ and $Cu/Ce_{0.7}Zr_{0.3}O_2$ showed the highest activities (>99%) and selectivities (ca.50%) in the temperature range of $150{\sim}160^{\circ}C$. It was found that by using of $Ce_xZr_{1-x}O_2$ mixed oxide support which possesses a high oxygen storage capacity, oxidation-reduction activity of Cu-based catalyst was improved, which resulted in the increase of catalytic activity and selectivity of CO oxidation in excess $H_2$ environments.

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A Study on the Causality of Technology Culture of East Asian Roof Tile Making Technology Since the 17th Century (17세기 이후 동아시아 제와(製瓦)의 기술문화적 인과성)

  • Kim, Hajin
    • Korean Journal of Heritage: History & Science
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    • v.52 no.3
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    • pp.56-73
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    • 2019
  • This paper aims to establish the technical style of roof tiles by analyzing East Asian roof tile making techniques. It will examine the existing main research data, such as excavation results and the subsequent analysis of the roof tiles' production traces, as well as references and transmitted techniques. Regions are grouped according to technical similarity, then grouped again by artistic styles of pattern and shape and by the technical styles of tools, procedures, and manpower plans. Accordingly, intends to find out whether an understanding of technical style can facilitate an understanding of not only cultural aspects, but also the causality of techniques. Korean, Chinese and Japanese tools were examined, and procedures for making roof tiles were classified into 4 groups. In a superficial way, China, Okinawa, Korea, and Honshu share similar technical traits. Research of procedural details and manpower plans revealed characteristics of each region. As a result, comparisons were made between each region's technical characteristics attempting to investigate their causes. The groups were classified according to their possessing techniques, but it was revealed that East Asia's shared production techniques were based on architectural methodss. The skill of "Pyeon Jeol(Clay Cutting)" classified according to its possessing techniques, turned out to be one such technique. Also, the procedure of technical localization based on the skill of "Ta-nal(Tapping)" showed that the condition of this technique was the power to localize in response to a transfer of techniques. Previous comparison parameters of artifacts would have been a similarity of style originated from exchanges between regions and stylistic characteristics of regions decided by the demander's taste of beauty. This methodology enlarges cultural perception and affords a positive basis of historical facts. However, it suggests the possibility of finding cultural aspects' origins by understanding the technical style and seeing same result in view of "technology culture."

A study about art theory of Yeoncheon Hong Seok-joo - Focused on difference with Jeong Yak-yong丁若鏞 (연천 홍석주의 예술론(藝術論)에 대한 일고찰 - 정약용(丁若鏞)과의 차이점을 중심으로 -)

  • Yoon, Jong-il
    • (The)Study of the Eastern Classic
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    • no.55
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    • pp.223-264
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    • 2014
  • Yeoncheon Hong Seok-joo(淵泉 洪奭周: 1774-1842) faithfully followed a policy of restoration of literary style of king Jeongjo. He was an young vassal after 1794 and influenced by Jeongjo because Yeoncheon was around the king. Furthermore, he had comparatively favorable working period as a vassal(仕宦期, 1795-1836) after death of Jeongjo(1800) while establishing his own academic viewpoint. Therefore, a study about art theory of Yeoncheon Hong Seok-joo is one about logical system to accept various desires for change of then while not getting rid of scope of Neo-Confucianism after Jeongjo. It is catched that exchange of Hong Seok-joo and Jeong Yak-yong was made relating to study of Sangseo. Hong Seok-joo and Jeong Yak-yong absorbed in study of Sangseo, which is come from putting importance on 6 scriptures (經) among studies of scriptures by both of them. Through this, they aimed to re-discover ideology of original Confucian studies as one for cultivating oneself and governing people (修己治人之學). Dasan and Yeoncheon have something in common that they were young vassals who were cultivated as a guarding power for Jeongjo centered on Gyujanggak. They were largely fit to view of literature(文體觀) of Jeongjo. Hong Seok-joo distinguished function of prose(文) and poetry(詩) into teaching moral(明敎) and moving people(感人) in the category of Mun-yi-jae-do(文以載道) based on thoughts of 'literature is linguistic device for Taoism '(道本文末)' which is a core concept of literature theory based on Neo-Confucianism. He gave a careful attention on instructional and social function in prose while on emotional understanding that puts importance on temper and the secrets of nature in poetry. Hong Seok-joo regarded moral impression and edification through this as a core of artistic creation based on Segyoseol(世敎說). Furthermore, expressions such as 'Heunggwangunwon(興觀群怨)' or 'Yeohangguyo(閭巷謳謠) which are mentioned as important elements in his artistic works put importance on actual existence of objective things in artistic activity and this is connected to an attitude to require description fit to fact. So, it is assumed that such expression style aimed for features of genre painting in painting arts. Understanding of the study of ancient documents by Yeoncheon developed from critical perspective. He criticized the study of ancient documents, saying it as first, Pasoijisul(破碎之術), second, Dotaekjisul(塗澤之術), third, Hoimojisul(毁侮之術). Jeong Yak-yong criticized ' theory on the Odes' from viewpoint of theory of Mun-yi-jae-do(文以載道) based on Neo-Confucianism. He stressed political and social function of Sipeon and general poetry in "the Odes" and reinterprets discourses about poetry of Zhu Xi based on his own opinion. He says that poems of national fashion do political and social criticism. The theory of national fashion by Jeong Yak-yong clearly discloses his thoughts that stress practical role of noblemen in the social and political context.

Performance of Investment Strategy using Investor-specific Transaction Information and Machine Learning (투자자별 거래정보와 머신러닝을 활용한 투자전략의 성과)

  • Kim, Kyung Mock;Kim, Sun Woong;Choi, Heung Sik
    • Journal of Intelligence and Information Systems
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    • v.27 no.1
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    • pp.65-82
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    • 2021
  • Stock market investors are generally split into foreign investors, institutional investors, and individual investors. Compared to individual investor groups, professional investor groups such as foreign investors have an advantage in information and financial power and, as a result, foreign investors are known to show good investment performance among market participants. The purpose of this study is to propose an investment strategy that combines investor-specific transaction information and machine learning, and to analyze the portfolio investment performance of the proposed model using actual stock price and investor-specific transaction data. The Korea Exchange offers daily information on the volume of purchase and sale of each investor to securities firms. We developed a data collection program in C# programming language using an API provided by Daishin Securities Cybosplus, and collected 151 out of 200 KOSPI stocks with daily opening price, closing price and investor-specific net purchase data from January 2, 2007 to July 31, 2017. The self-organizing map model is an artificial neural network that performs clustering by unsupervised learning and has been introduced by Teuvo Kohonen since 1984. We implement competition among intra-surface artificial neurons, and all connections are non-recursive artificial neural networks that go from bottom to top. It can also be expanded to multiple layers, although many fault layers are commonly used. Linear functions are used by active functions of artificial nerve cells, and learning rules use Instar rules as well as general competitive learning. The core of the backpropagation model is the model that performs classification by supervised learning as an artificial neural network. We grouped and transformed investor-specific transaction volume data to learn backpropagation models through the self-organizing map model of artificial neural networks. As a result of the estimation of verification data through training, the portfolios were rebalanced monthly. For performance analysis, a passive portfolio was designated and the KOSPI 200 and KOSPI index returns for proxies on market returns were also obtained. Performance analysis was conducted using the equally-weighted portfolio return, compound interest rate, annual return, Maximum Draw Down, standard deviation, and Sharpe Ratio. Buy and hold returns of the top 10 market capitalization stocks are designated as a benchmark. Buy and hold strategy is the best strategy under the efficient market hypothesis. The prediction rate of learning data using backpropagation model was significantly high at 96.61%, while the prediction rate of verification data was also relatively high in the results of the 57.1% verification data. The performance evaluation of self-organizing map grouping can be determined as a result of a backpropagation model. This is because if the grouping results of the self-organizing map model had been poor, the learning results of the backpropagation model would have been poor. In this way, the performance assessment of machine learning is judged to be better learned than previous studies. Our portfolio doubled the return on the benchmark and performed better than the market returns on the KOSPI and KOSPI 200 indexes. In contrast to the benchmark, the MDD and standard deviation for portfolio risk indicators also showed better results. The Sharpe Ratio performed higher than benchmarks and stock market indexes. Through this, we presented the direction of portfolio composition program using machine learning and investor-specific transaction information and showed that it can be used to develop programs for real stock investment. The return is the result of monthly portfolio composition and asset rebalancing to the same proportion. Better outcomes are predicted when forming a monthly portfolio if the system is enforced by rebalancing the suggested stocks continuously without selling and re-buying it. Therefore, real transactions appear to be relevant.

Changes in Agricultural Extension Services in Korea (한국농촌지도사업(韓國農村指導事業)의 변동(變動))

  • Fujita, Yasuki;Lee, Yong-Hwan;Kim, Sung-Soo
    • Journal of Agricultural Extension & Community Development
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    • v.7 no.1
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    • pp.155-166
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    • 2000
  • When the marcher visited Korea in fall 1994, he was shocked to see high rise apartment buildings around the capitol region including Seoul and Suwon, resulting from rising demand of housing because of urban migration followed by second and third industrial development. After 6 years in March 2000, the researcher witnessed more apartment buildings and vinyl house complexes, one of the evidences of continued economic progress in Korea. Korea had to receive the rescue finance from International Monetary Fund (IMF) because of financial crisis in 1997. However, the sign of recovery was seen in a year, and the growth rate of Gross Domestic Products (GDP) in 1999 recorded as high as 10.7 percent. During this period, the Korean government has been working on restructuring of banks, enterprises, labour and public sectors. The major directions of government were; localization, reducing administrative manpower, limiting agricultural budgets, privatization of public enterprises, integration of agricultural organization, and easing of various regulations. Thus, the power of central government shifted to local government resulting in a power increase for city mayors and county chiefs. Agricultural extension services was one of targets of government restructuring, transferred to local governments from central government. At the same time, the number of extension offices was reduced by 64 percent, extension personnel reduced by 24 percent, and extension budgets reduced. During the process of restructuring, the basic direction of extension services was set by central Rural Development Administration Personnel management, technology development and supports were transferred to provincial Rural Development Administrations, and operational responsibilities transferred to city/county governments. Agricultural extension services at the local levels changed the name to Agricultural Technology Extension Center, established under jurisdiction of city mayor or county chief. The function of technology development works were added, at the same time reducing the number of educators for agriculture and rural life. As a result of observations of rural areas and agricultural extension services at various levels, functional responsibilities of extension were not well recognized throughout the central, provincial, and local levels. Central agricultural extension services should be more concerned about effective rural development by monitoring provincial and local level extension activities more throughly. At county level extension services, it may be desirable to add a research function to reflect local agricultural technological needs. Sometimes, adding administrative tasks for extension educators may be helpful far farmers. However, tasks such as inspection and investigation should be avoided, since it may hinder the effectiveness of extension educational activities. It appeared that major contents of the agricultural extension service in Korea were focused on saving agricultural materials, developing new agricultural technology, enhancing agricultural export, increasing production and establishing market oriented farming. However these kinds of efforts may lead to non-sustainable agriculture. It would be better to put more emphasis on sustainable agriculture in the future. Agricultural extension methods in Korea may be better classified into two approaches or functions; consultation function for advanced farmers and technology transfer or educational function for small farmers. Advanced farmers were more interested in technology and management information, while small farmers were more concerned about information for farm management directions and timely diffusion of agricultural technology information. Agricultural extension service should put more emphasis on small farmer groups and active participation of farmers in these groups. Providing information and moderate advice in selecting alternatives should be the major activities for consultation for advanced farmers, while problem solving processes may be the major educational function for small farmers. Systems such as internet and e-mail should be utilized for functions of information exchange. These activities may not be an easy task for decreased numbers of extension educators along with increased administrative tasks. It may be difficult to practice a one-to-one approach However group guidance may improve the task to a certain degree.

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