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Attention to the Internet: The Impact of Active Information Search on Investment Decisions (인터넷 주의효과: 능동적 정보 검색이 투자 결정에 미치는 영향에 관한 연구)

  • Chang, Young Bong;Kwon, YoungOk;Cho, Wooje
    • Journal of Intelligence and Information Systems
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    • v.21 no.3
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    • pp.117-129
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    • 2015
  • As the Internet becomes ubiquitous, a large volume of information is posted on the Internet with exponential growth every day. Accordingly, it is not unusual that investors in stock markets gather and compile firm-specific or market-wide information through online searches. Importantly, it becomes easier for investors to acquire value-relevant information for their investment decision with the help of powerful search tools on the Internet. Our study examines whether or not the Internet helps investors assess a firm's value better by using firm-level data over long periods spanning from January 2004 to December 2013. To this end, we construct weekly-based search volume for information technology (IT) services firms on the Internet. We limit our focus to IT firms since they are often equipped with intangible assets and relatively less recognized to the public which makes them hard-to measure. To obtain the information on those firms, investors are more likely to consult the Internet and use the information to appreciate the firms more accurately and eventually improve their investment decisions. Prior studies have shown that changes in search volumes can reflect the various aspects of the complex human behaviors and forecast near-term values of economic indicators, including automobile sales, unemployment claims, and etc. Moreover, search volume of firm names or stock ticker symbols has been used as a direct proxy of individual investors' attention in financial markets since, different from indirect measures such as turnover and extreme returns, they can reveal and quantify the interest of investors in an objective way. Following this line of research, this study aims to gauge whether the information retrieved from the Internet is value relevant in assessing a firm. We also use search volume for analysis but, distinguished from prior studies, explore its impact on return comovements with market returns. Given that a firm's returns tend to comove with market returns excessively when investors are less informed about the firm, we empirically test the value of information by examining the association between Internet searches and the extent to which a firm's returns comove. Our results show that Internet searches are negatively associated with return comovements as expected. When sample is split by the size of firms, the impact of Internet searches on return comovements is shown to be greater for large firms than small ones. Interestingly, we find a greater impact of Internet searches on return comovements for years from 2009 to 2013 than earlier years possibly due to more aggressive and informative exploit of Internet searches in obtaining financial information. We also complement our analyses by examining the association between return volatility and Internet search volumes. If Internet searches capture investors' attention associated with a change in firm-specific fundamentals such as new product releases, stock splits and so on, a firm's return volatility is likely to increase while search results can provide value-relevant information to investors. Our results suggest that in general, an increase in the volume of Internet searches is not positively associated with return volatility. However, we find a positive association between Internet searches and return volatility when the sample is limited to larger firms. A stronger result from larger firms implies that investors still pay less attention to the information obtained from Internet searches for small firms while the information is value relevant in assessing stock values. However, we do find any systematic differences in the magnitude of Internet searches impact on return volatility by time periods. Taken together, our results shed new light on the value of information searched from the Internet in assessing stock values. Given the informational role of the Internet in stock markets, we believe the results would guide investors to exploit Internet search tools to be better informed, as a result improving their investment decisions.

A study of Artificial Intelligence (AI) Speaker's Development Process in Terms of Social Constructivism: Focused on the Products and Periodic Co-revolution Process (인공지능(AI) 스피커에 대한 사회구성 차원의 발달과정 연구: 제품과 시기별 공진화 과정을 중심으로)

  • Cha, Hyeon-ju;Kweon, Sang-hee
    • Journal of Internet Computing and Services
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    • v.22 no.1
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    • pp.109-135
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    • 2021
  • his study classified the development process of artificial intelligence (AI) speakers through analysis of the news text of artificial intelligence (AI) speakers shown in traditional news reports, and identified the characteristics of each product by period. The theoretical background used in the analysis are news frames and topic frames. As analysis methods, topic modeling and semantic network analysis using the LDA method were used. The research method was a content analysis method. From 2014 to 2019, 2710 news related to AI speakers were first collected, and secondly, topic frames were analyzed using Nodexl algorithm. The result of this study is that, first, the trend of topic frames by AI speaker provider type was different according to the characteristics of the four operators (communication service provider, online platform, OS provider, and IT device manufacturer). Specifically, online platform operators (Google, Naver, Amazon, Kakao) appeared as a frame that uses AI speakers as'search or input devices'. On the other hand, telecommunications operators (SKT, KT) showed prominent frames for IPTV, which is the parent company's flagship business, and 'auxiliary device' of the telecommunication business. Furthermore, the frame of "personalization of products and voice service" was remarkable for OS operators (MS, Apple), and the frame for IT device manufacturers (Samsung) was "Internet of Things (IoT) Integrated Intelligence System". The econd, result id that the trend of the topic frame by AI speaker development period (by year) showed a tendency to develop around AI technology in the first phase (2014-2016), and in the second phase (2017-2018), the social relationship between AI technology and users It was related to interaction, and in the third phase (2019), there was a trend of shifting from AI technology-centered to user-centered. As a result of QAP analysis, it was found that news frames by business operator and development period in AI speaker development are socially constituted by determinants of media discourse. The implication of this study was that the evolution of AI speakers was found by the characteristics of the parent company and the process of co-evolution due to interactions between users by business operator and development period. The implications of this study are that the results of this study are important indicators for predicting the future prospects of AI speakers and presenting directions accordingly.

Development of Simultaneous Analytical Method for Streptomycin and Dihydrostreptomycin Detection in Agricultural Products Using LC-MS/MS (LC-MS/MS를 이용한 농산물 중 Streptomycin 및 Dihydrostreptomycin 동시시험법 개발)

  • Lee, Han Sol;Do, Jung-Ah;Park, Ji-Su;Park, Shin-Min;Cho, Sung Min;Shin, Hye-Sun;Jang, Dong Eun;Choi, Young-Nae;Jung, Yong-hyun;Lee, Kangbong
    • Journal of Food Hygiene and Safety
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    • v.34 no.1
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    • pp.13-21
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    • 2019
  • A method was developed for the simultaneous detection of an antibiotic fungicide, streptomycin, and its metabolite (dihydrostreptomycin) in agricultural products using liquid chromatography-tandem mass spectrometry (LC-MS/MS). The samples were extracted using methanol adjusted to pH 3 using formic acid, and purified with a HLB (Hydrophilic lipophilic balance) cartridge. The matrix-matched calibration curves were constructed using seven concentration levels, from 0.001 to 0.1 mg/kg, and linearity of five agricultural products (hulled rice, potato, soybean, mandarin, green pepper), with coefficients of determination $(R^2){\geq}0.9906$, for streptomycin and dihydrostreptomycin. The mean recoveries at three fortification levels (LOQ, $LOQ{\times}10$, $LOQ{\times}50$, n = 5) were from 72.0~116.5% and from 72.1~116.0%, and relative standard deviations were less than 12.3% and 12.5%, respectively. The limits of quantification (LOQ) were 0.01 mg/kg, which are satisfactory for quantification levels corresponding with the Positive List System. All optimized results satisfied the criteria ranges requested in the Codex guidelines and the Food Safety Evaluation Department guidelines. The present study could serve as a reference for the establishment of maximum residue limits and be used as basic data for detection of streptomycin and dihydrostreptomycin in food.

Development of Analytical Method for Kasugamycin in Agricultural Products using LC-MS/MS (LC-MS/MS를 이용한 농산물 중 Kasugamycin 시험법 개발)

  • Lee, Han Sol;Do, Jung-Ah;Park, Ji-Su;Cho, Sung Min;Shin, Hye-Sun;Jang, Dong Eun;Jung, Yong-hyun;Lee, Kangbong
    • Journal of Food Hygiene and Safety
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    • v.34 no.3
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    • pp.235-241
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    • 2019
  • An analytical method was developed for the determination of an antibiotic fungicide, kasugamycin, in agricultural products (hulled rice, potato, soybean, mandarin and green pepper) using liquid chromatographytandem mass spectrometry (LC-MS/MS). Samples were extracted with methanol adjusted to pH 13 using 1 N sodium hydroxide, and purified with a HLB (hydrophilic lipophilic balance) cartridge. Linearity of a matrix-matched calibration curve using seven concentration levels, from 0.001 to 0.1 mg/kg, was excellent with a correlation coefficient ($R^2$) of more than 0.9998. The limits of detection (LOD) and quantification (LOQ) of instrument were 0.0005 and $0.001{\mu}g/mL$, respectively, and the LOQ of analytical method calculated as 0.01 mg/kg. The average recoveries at three spiking levels (LOQ, $LOQ{\times}10$, $LOQ{\times}50$, n=5) were in the range of 71.2~95.4% with relative standard deviation of less than 12.1%. The developed method was simple and all optimized results was satisfied with the criteria ranges requested in the Codex guidelines and Food Safety Evaluation Department guidelines. The present study could be served as a reference for the establishment of maximum residue limits (MRL) of kasugamycin and be used as basic data for safety management relative to kasugamycin residues in imported and domestic agricultural products.

A Study on Termite Monitoring Method Using Magnetic Sensors and IoT(Internet of Things) (자력센서와 IoT(사물인터넷)를 활용한 흰개미 모니터링 방법 연구)

  • Go, Hyeongsun;Choe, Byunghak
    • Korean Journal of Heritage: History & Science
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    • v.54 no.1
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    • pp.206-219
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    • 2021
  • The warming of the climate is increasing the damage caused by termites to wooden buildings, cultural properties and houses. A group removal system can be installed around the building to detect and remove termite damage; however, if the site is not visited regularly, every one to two months, you cannot observe whether termites have spread within, and it is difficult to take prompt effective action. In addition, since the system is installed and operated in an exposed state for a long period of time, it may be ineffective or damaged, resulting in a loss of function. Furthermore if the system is installed near a cultural site, it may affect the aesthetic environment of the site. In this study, we created a detection system that uses wood, cellulose, magnets, and magnetic sensors to determine whether termites have entered the area. The data was then transferred to a low power LoRa Network which displayed the results without the necessity of visiting the site. The wood was made in the shape of a pile, and holes were made from the top to the bottom to make it easier for termites to enter and produce a cellulose sample. The cellulose sample was made in a cylindrical shape with a magnet wrapped in cellulose and inserted into the top of a hole in the wood. Then, the upper part of the wood pile was covered with a stopper to prevent foreign matter from entering. It also served to block external factors such as light and rainfall, and to create an environment where termites could add cellulose samples. When the cellulose was added by the termites, a space was created around the magnet, causing the magnet to either fall or tilt. The magnetic sensor inside the stopper was fixed on the top of the cellulose sample and measured the change in the distance between the magnet and the sensor according to the movement of the magnet. In outdoor experiments, 11 cellulose samples were inserted into the wood detection system and the termite inflow was confirmed through the movement of the magnet without visiting the site within 5 to 17 days. When making further improvements to the function and operation of the system it in the future, it is possible to confirm that termites have invaded without visiting the site. Then it is also possible to reduce damage and fruiting due to product exposure, and which would improve the condition and appearance of cultural properties.

Contract Farming Through a Cooperative to Boost Agricultural Sector Restructuring: Evidence from a Rural Commune in Central Vietnam (베트남 농업구조개혁과 협동조합의 계약영농: 중부베트남의 농촌을 사례로)

  • Duong, Thi Thu Ha;Kim, Doo-Chul
    • Journal of the Economic Geographical Society of Korea
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    • v.25 no.1
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    • pp.109-130
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    • 2022
  • The Vietnamese government has proposed contract farming through a new type of cooperative as an institutional innovation which aims to restructure the agricultural sector. However, policy changes often impact farmers, who bear the primary effects of the transition process. Understanding households' strategies for land use and livelihood is crucial for policymaking in the agricultural development field. This study was conducted in the rural Binh Dao commune in Central Vietnam. We analyzed household members' labor force changes and their livelihood behaviors after their participation in a contract farming scheme using qualitative analysis methods combined with geographic information system (GIS) support, based on secondary data and in-depth interviews of 190 farmers. Simultaneously, we created a digital map of the cooperative's production area to investigate changes in land use and production activities. The findings show that contract farming shaped the vertical coordination of the value chain from the farmers to the cooperative and agricultural product trading companies. Subsequently, it encouraged land use and labor efficiency due to mechanical support. In addition, it also increased productivity and protected farmers from market risks. However, despite its positive effects on agricultural productivity in this case, the contract farming scheme could not achieve the restructuring of the rural labor force toward non-agricultural sectors. Ironically, farmers in the Binh Dao commune tended to increase cultivable land during the agricultural restructuring program, rather than switching their labor forces to non-agricultural sectors. The lack of stable non-farming job opportunities in rural Vietnam results in challenges to the efficiency of agricultural restructuring programs. Consequently, farmers in the Binh Dao commune are still smallholder farmers, depending on the family labor force.

An Exploratory Study on the Status of and Demand for Higher Education Programs in Fashion in Myanmar (미얀마의 패션 고등교육 현황과 수요에 대한 탐색적 연구)

  • Kang, Min-Kyung;Jin, Byoungho Ellie;Cho, Ahra;Lee, Hyojeong;Lee, Jaeil;Lee, Yoon-Jung
    • Journal of Korean Home Economics Education Association
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    • v.34 no.3
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    • pp.1-23
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    • 2022
  • This study examined the perceptions of Myanmar university students and professors regarding the status and necessity of higher education programs in fashion. Data were collected from professors in textile engineering at Yangon Technological University and Myanmar university students. Closed- and open-ended questions were asked either through interviews or by email. The responses were analyzed using keyword extraction and categorization, and descriptive statistics(closed questions). Generally, the professors perceived higher education, as well as the cultural industries including art and fashion, as important for Myanmar's social and economic development. According to the students interests in pursuing a degree in textile were limited, despite the high interest in fashion. Low wages in the apparel industry and lack of fashion degrees that meet the demand of students were cited as reasons. The demand was high for educational programs in fashion product development, fashion design, pattern-making, fashion marketing, branding, management, costume history, and cultural studies. Students expected to find their future career in textiles and clothing factories. Many students wanted to be hired by global fashion brands for higher salaries and training for advanced knowledge and technical skills. They perceived advanced fashion education programs will have various positive effects on Myanmar's national economy.

Synthesis and Structural Study of Extraframework ZrI6Tl119+ Cationic Cluster in Zeolite A (제올라이트 A 동공 내 비골격 ZrI6Tl119+ 양이온 클러스터의 합성과 구조 연구)

  • Hyeon Seung, Lim;Jong Sam, Park;Cheol Woong, Kim;Woo Taik, Lim
    • Korean Journal of Mineralogy and Petrology
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    • v.35 no.4
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    • pp.447-455
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    • 2022
  • Fully dehydrated Tl12-LTA (|Tl12|[Si12Al12O48]-LTA,Tl12-A) was treated with 6.0×103 Pa of ZrI4 (g) at 623 K for 72 hr under anhydrous conditions. The crystal structure of product, |Zr0.25I1.5Tl12|[Si12Al12O48]-LTA, was determined by single-crystal crystallography using synchrotron X-radiation in the cubic space group Pm3m (a = 12.337(2) Å). It was refined using all data to the final error index (for the 712 unique reflections for which Fo> 4σ(Fo) R1/wR2= 0.055/0.189. In this structure, octahedral ZrI62- ions center about 25% of the large cavities (Zr-I = 2.91(4) Å). Each coordinates to eight Tl+ ions and they are further bridged by Tl+ ions in the planes of 8-rings to form a cubic three-dimensional ZrI6Tl119+ cationic cluster. About 1.5 Tl+ ions per unit cell moved to deeper side of sodalite cavity after reaction with ZrI4(g). The remaining Tl+ ions occupy well-established cation positions near 6- and 8-rings.

A Study for Kinetics and Oxidation Reaction of Alcohols using (C10H8N2H)2Cr2O7 ((C10H8N2H)2Cr2O7를 이용한 알코올들의 산화반응과 반응속도에 관한 연구)

  • Park, Young-Cho;Kim, Soo-Jong
    • The Journal of the Convergence on Culture Technology
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    • v.8 no.6
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    • pp.927-933
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    • 2022
  • We synthesized (C10H8N2H)2Cr2O7, The structure of the product was characterized with FT-IR(infrared) and elemental analysis. The oxidation of benzyl alcohol by (C10H8N2H)2Cr2O7 in organic solvents showed that the reactivity increased with the increase of the dielectric constant. The oxidation of alcohols was examined by (C10H8N2H)2Cr2O7 in DMF, acetone. As a resuit, (C10H8N2H)2Cr2O7 was found as efficicent oxidizing agent that converted benzyl alcohol, allyl alcohol, primary alcohol and secondary alcohols to the corresponding aldehydes or ketones(65%~95%). The selective oxidation of alcohols was also examined by (C10H8N2H)2Cr2O7 in DMF, acetone. (C10H8N2H)2Cr2O7 was selective oxidizing agent(15%~95%) of benzyl alcohol, allyl alcohol and primary alcohol in the presence of secondary ones. In the presence of DMF solvent with acidic catalyst such as H2SO4. (C10H8N2H)2Cr2O7 oxidized benzyl alcohol(H) and its derivatives. The Hammett reaction constant(ρ) was -0.69(308K). The observed experimental data were used to rationalize the hydride ion transfer in the rate determining step.

Hazardous Metal Content in Tattoo Cosmetics and Tattoo Inks (타투화장품 및 문신용 염료의 유해금속 함량 연구)

  • Mi Sun Kim;Su Un Kim;Sam Ju Jung;Young Eun Kim;Min Jung Kim;Myung Sook Lee;In Sook Hwang
    • Journal of Environmental Health Sciences
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    • v.49 no.2
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    • pp.66-77
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    • 2023
  • Background: Along with the increase in consumer interest in and consumption of tattoo products, the controversy over harmful heavy metals associated with the use of tattoo cosmetics is also increasing. Therefore, investigation of hazardous metals in these tattoo products is needed. Objectives: This study was performed to provide useful data for establishing reasonable standards to securely manage tattoo cosmetics, tattoo stickers, and tattoo inks distributed in the market. Methods: Thirteen kinds of hazardous metal contents (Pb, As, Cd, Sb, Ni, Co, Cu, Cr, Se, Ba, Zn, Sn, and Hg) were analyzed for 23 tattoo cosmetics, ten tattoo stickers, and 16 tattoo inks. Hg was measured through the combustion-gold amalgamation method, and other hazardous metals were measured by inductively coupled plasma-mass spectrometry (ICP-MS) after acidic decomposition using a microwave apparatus. Results: The detected ranges of Pb, As, Cd, Sb, Ni, and Hg in tattoo cosmetics were 0.07~1.18, 0.06~0.41, ND~0.07, 0.01~3.44, 0.12~2.75, and ND~0.01 ㎍/g, respectively. All of the hazardous metals detected were below the recommended maximum standards of the Ministry of Food and Drug Safety. The mean amount of Pb detected in tattoo stickers for children was 0.24 ㎍/kg and Cd was not detected, meaning both metals met the recommended criteria. There was no statistically significant difference in all measured metals between children's tattoo stickers and adults' tattoo stickers. In the results of the study on the hazardous metal content of tattoo inks, four products (25%) for Pb, one product (6%) for As, 13 products (81%) for Ni, four products (25%) for Cu, and five products (31%) for Zn exceeded the recommended standards approved by the government. The highest predicted exposure amount for hazardous metals exceeding the recommended level of tattoo inks in a single tattooing was 5.69 ㎍/kg for Ni, 8.51 ㎍/kg for Zn, 0.44 ㎍/kg for Pb, 8.07 ㎍/kg for Cu, 0.44 ㎍/kg for As, and 71.36 ㎍/kg for Ba. Conclusions: It is necessary to prepare criteria for content limitation for the management of Co, Cr, Ba and Se tattoo cosmetics, and tattoo inks require thorough quality control.