• The Journal of Asian Finance, Economics and Business
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• v.8 no.3
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• pp.39-47
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• 2021

This research aims to confirm if the COVID-19 pandemic has had an impact on existing sectors, and how that affects the Indonesian Stock Exchange (IDX) market returns. The research method used is an event study employing market models in nine sectors of the Exchange with purposive sampling technique, and supported by Ordinary Least Square (OLS) regression. Based on the calculation of abnormal returns in the period of 30 days before up to 30 days after, the financial property, real estate, and construction sector results show a decreased abnormal return value. The infrastructure, utilities, and transportation sectors also show an abnormal return value that tends to be constant, while the abnormal return value increases in other sectors. Judging from the cumulative value of abnormal returns, the most affected sector is financials, followed by the trade, service, and investment sectors. The consumer goods and mining industry sectors are still optimistic, while other sectors show temporary negative sentiment. Overall, the stocks on the Indonesia Stock Exchange (IDX) were affected by the COVID-19 pandemic with a cumulative negative value of the average abnormal return sample. The results using OLS regression also strengthen the relationships between the COVID-19 pandemic, and negative and significant market returns.

• Journal of Digital Convergence
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• v.18 no.2
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• pp.421-426
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• 2020

The global game market is growing evenly across a variety of platforms, but in the Korean game market is a decline in growth rates on PC and mobile platforms, which account for more than 80% of the total Korean game market, which requires an alternative. In this study, propose a multi-platform launch of IP-based games as a way to increase the growth rate of the Korean game market. It has been analyzed that multi-platform launch methods can be divided into Stand-alone Multi-platform method, Interlocking multi-platform method, and Upgrade-interlinking Multi-platform method, respectively, and the effect of expanding, providing more satisfactory game play environment and preventing them from escaping to competitive games. Given the limited case analysis in this study, further studies are needed to propose more effective multi-platform utilization measures.

• International Area Studies Review
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• v.14 no.2
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• pp.25-40
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• 2010

Accurate forecasting of volatility is of considerable interest in financial volatility research, particularly in regard to portfolio allocation, option pricing and risk management because volatility is equal to market risk. So, we attempted to delineate a model with good ability to forecast and identified stylized features of volatility, with a focus on volatility persistence or long memory in the Australian futures market. In this context, we assessed the long-memory property in the volatility of index futures contracts using three conditional volatility models, namely the GARCH, IGARCH and FIGARCH models. We found that the FIGARCH model better captures the long-memory property than do the GARCH and IGARCH models. Additionally, we found that the FIGARCH model provides superior performance in one-day-ahead volatility forecasts. As discussed in this paper, the FIGARCH model should prove a useful technique in forecasting the long-memory volatility in the Australian index futures market.

• International Journal of Internet, Broadcasting and Communication
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• v.11 no.2
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• pp.67-75
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• 2019

"No IP, No Content" has become a phenomenon in the content industry, high-quality IP has a strategic importance. It has become a Trinity in the movie-anime-game basic package, Competition is more intense. However, there is a tremendous amount of know-how hidden behind the use of IP to operate games well. We are worth exploring in detail. The research and analysis of digital IP market, the advantages and disadvantages will be the focus of our pragmatic research. As an emerging market in the digital industry, China has great research value. This paper analyzes the status quo of the current Chinese market by comparing the mature US and Japanese markets. For example, the research of American Disney Company analyzes the mature market structure of Japan. compared with the excellent case of the Chinese market legend of qin. By studying the current situation of China's digital market, analyzing the interest trends of the customer base, discovering existing problems and improving the accuracy of the prediction and judgment of the Chinese digital market in the future.According to the survey, the IP heat is mainly concentrated in six categories of games, animation, TV, variety, movies, and novels. At present, the most popular IP of manufacturers have three major categories. This article will conduct research and analysis on digital IP, and analyze the market status of China, the United States, and Japan and the research on outstanding representative works in the market.

• Asia-Pacific Journal of Business
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• v.11 no.4
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• pp.255-269
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• 2020

Purpose - This paper analyzes the market efficiency focusing on the long memory properties of the domestic futures market. By decomposing futures prices into yield and volatility and looking at the long memory properties of the time series, this study aims to understand the futures market pricing and change behavior and risks, specifically and in detail. Design/methodology/approach - This study analyzes KOSPI 200 futures, KOSDAQ 150 futures, 3 and 10-year government bond futures, US dollar futures, yen futures, and euro futures, which are among the most actively traded on the Korea Exchange. To analyze the long memory and market efficiency, we used the Variance Ratio, Rescaled-Range(R/S), Geweke and Porter-Hudak(GPH) tests as semi- parametric methods, and ARFIMA-FIGARCH model as the parametric method. Findings - It was found that all seven futures supported the efficiency market hypothesis because the property of long memory turned out not to exist in their yield curves. On the other hand, in futures volatility, all 7 futures showed long memory properties in the analysis, which means that if new information is generated in the domestic futures market and the market volatility once expanded due to the impact, it does not decrease or shrink for a long period of time, but continues to affect the volatility. Research implications or Originality - The results of this paper suggest that it can be useful information for predicting changes and risks of volatility in the domestic futures market. In particular, it was found that the long memory properties would be further strengthened in the currency futures and bond rate futures markets after the global financial crisis if the regime changes of the domestic financial market are taken into account in the analysis.

• Journal of the Korean Recycled Construction Resources Institute
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• v.2 no.2
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• pp.93-100
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• 2006

Building materials are trending toward environmental materials nowadays and the market share of those is growing. So those researches and developments for environmental property are proceeding now. The main properties of environmental products are far infrared emission, negative ion emission, electro magnetic wave shielding, and anti fungus, these products are used with shape of mortar, and spray on the finish material. But There are not much researches for the concrete, main material in construction field, with those functional properties. So in this research we evaluated slump, compressive strength and air content as basic properties for concrete using functional materials of sericite, wood pattern sand stone, carbon black and nanometric silver solution and functional properties like far infrared emission, negative ion emission, electro magnetic wave shielding, and anti fungus. The results were as follows. The most useful material in the functional materials was carbon black. Sericite and nanometric silver solution had a little effect on functional property, so it was difficult to apply to concrete, and wood pattern sand stone had a high functional property but low compressive strength, can be applied to a factory product. Anti fungus of the concrete using nanometric silver solution was not clear but if those specimens were aged in $CO_2$ gas for a long time it might apparent.

• International Journal of Computer Science & Network Security
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• v.22 no.5
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• pp.115-120
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• 2022

New realities of social relations are changing the understanding of certain phenomena, including the emergence of new concepts among the objects of property rights, such as: virtual assets, and the circulation of virtual assets. The rapid development of the virtual assets market involves the legislative consolidation of the status of such assets, changes in taxation, their circulation, and so on. These circumstances increase the interest in the study of virtual assets as the latest object of property rights and necessitate the study of this topic. The work aims to explore the theoretical developments and regulations on virtual assets in the modern world, as well as to summarize the conclusions about virtual assets as the latest object of property rights. The object of research is the content of the concept of "virtual asset" and its legal status. The methodology of work is represented by a set of methods and techniques that were used to achieve this goal, namely: hermeneutic, historical, extrapolation, comparative law, generalization, analysis, synthesis, and deduction. The study analyzed different approaches to understanding virtual assets, analyzed the characteristics of virtual assets, and concluded that in today's conditions there is no single unified legal regulation of virtual assets, although many countries are moving towards consolidating the status of virtual assets.

• The Journal of Information Systems
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• v.18 no.3
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• pp.351-373
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• 2009

An index fund is a collective investment scheme that aims to replicate the movements of an index of a specific financial market regardless of market conditions. An index fund is a popular investment alternative because it is much cheaper to run than an active fund and it performs better than actively managed funds. This paper illustrates the usefulness of wavelet analysis in constructing an index fund. The wavelet analysis can decompose the time series data in frequency domain as well as in time domain. The major findings of this paper are as follows. First, the beta coefficient that represents the systematic risk has the scale dependent property. This result can provide important information to the investors with various investment time frequency. Investors can use the betas corresponding to their investment frequencies among the various scale betas estimated by wavelet analysis. Second, we can find the usefulness of wavelet analysis in constructing index fund because the wavelet technique gives less tracking error(difference between the index performance and the index fund performance) than the traditional constructing techniques. The result of this study implies that the wavelet techniques can be an important analytic method to the other financial markets such as option market, futures market, bond markets and currency market.

• Journal of Contemporary Eastern Asia
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• v.20 no.2
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• pp.63-84
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• 2021

The present study was conducted to understand the turmoil effects of COVID-19 pandemic on the Malaysian stock market during the different periods of the Movement Control Order (MCO). The present study was based on the secondary data extracted from the DataStream and Bloomberg from 2nd January 2020 to 29th May 2020 to evaluate the effects of COVID-19 pandemic on the Malaysian stock market. The findings suggested that during the different periods of the Movement Control Order (MCO) from the 1st January to 29th May 2020, the COVID-19 pandemic adversely affected the performance of KLCI index and all sectoral indices. The weakest performance indices were energy, property, and finance while the least affected indices were healthcare, technology, telecommunications, and media. This paper provides a review of the impacts of COVID-19 pandemic on the Malaysian stock market throughout the different periods of MCO.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.5
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• pp.515-521
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• 2021

The popularity of Islamic financial instruments among Muslims is not surprising. The Islamic capital market is where sharia-compliant financial assets are transacted. It works parallel to the conventional market and helps investors find sharia-compliant investment opportunities. At a time of collective confusion when the COVID-19 epidemic is contributing to unprecedented change, this paper is keen to understand how attractive conventional and Islamic stock markets have been to investors recently. Second, this paper takes advantage of the time-scale decomposition property of the wavelet to simultaneously capture risk exposure and distinguish the risks faced by short- and long-term investors. To this end, this research conducted a two-step investigation of the daily closing equity market price indices for three Islamic stock markets and their conventional counterparts. Given that different financial decisions occur with greater or less frequency, the paper examines the connectedness of stock markets operating at heterogeneous rates and identifies the timescales using wavelet-DCC-GARCH analysis to take account of both the time and the frequency domains of stock market connectedness. The paper findings highlight the strong evidence of contagion that can be seen in nearly all conventional stock markets in the COVID-19 pandemic; they reach a high level of dependency in such health crises. Furthermore, Islamic stock markets prove to be a rich ground for global diversification.