• East Asian Economic Review
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• v.22 no.4
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• pp.467-505
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• 2018

We propose a simple identification scheme for the causes of the violations of uncovered interest parity. Our method uses the serial dependence patterns of excess returns as a criterion for judging performance of economic models. We show that a mean reverting component in excess returns, representing a violation of uncovered interest parity, mainly contributes to generating different serial dependence patterns of excess returns: rational expectations risk premium models tend to generate negative serial dependence of excess returns, while expectational errors models tend to generate positive serial dependence.

• Korean Journal of Human Ecology
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• v.19 no.2
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• pp.295-310
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• 2010

This study measured college students' levels of satisfaction with their cyber learning through an online survey of students who had taken one or more cyber learning before. 500 returned and usable questionnaires were analyzed and SPSS WIN 12.0 was used for the descriptive statistics, t-test, factor analysis and analysis of covariance structures. The results are as follows; First, college students were very interested in their cyber learning. Their decision to take the cyber learning was initiated more by emotional motives (m=3.13) than by rational motives (m=3.35). Second, the consumers' expectations for the cyber learning were divided into the 'Expectation for service quality' and the 'Expectation for economy,' and their 'Expectation for economy'(m=4.02) was higher than their 'Expectations for service quality'(m=3.60). Third, the consumers' expectations for the cyber learning and the results of the cyber learning were analyzed, and a discrepancy between these two were also analyzed. The analysis of discrepancy between the two showed that the average of the results was lower than that of the expectations, which means that the cyber learning did not meet the consumers' expectations in every aspect, However, the average satisfaction level was 3.20, which means consumers were satisfied with the cyber learning overall. Fourth, causes of dissatisfaction with the cyber learning were divided into internal factors due to personal matters and external factors due to classes and other factors. It was found that dissatisfaction due to internal factors was greater than that due to external factors. Lastly, the factors affecting satisfaction/dissatisfaction with the cyber learning and willingness to use it again were analyzed. The results showed that the motive for its use affected the formation of expectation but it did not affect the results. Satisfaction with the cyber learning affected the willingness to use it again positively. However, the effect of dissatisfaction on the willingness to use it again was not statistically significant.

• The Korean Journal of Financial Management
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• v.22 no.2
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• pp.91-105
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• 2005

Using Campa and Chang's Expectations Hypothesis model, We test the expectations hypothesis in the term structure of volatilities in options on KOSPI 200 by using daily dosing prices from January 1999 to December 2003. In particular, it addresses whether long-dated volatilities are consistent with expected future short-dated volatilities, assuming rational expectation. Our results do not support the expectations hypothesis : long-term volatilities rise relative to short-term volatilities, but the increases are not matched as predicted by the expectations hypothesis. In addition, an increase in the current long-term volatilities relative to the current short-term volatilities is followed by at a random.

• Environmental and Resource Economics Review
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• v.4 no.1
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• pp.103-124
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• 1994

주요 현물유가(WTI, Brent, Oman, Dubai)와 선물유가간의 동태적 관계를 시계열 분석 방법을 이용하여 살펴보았다. 현물유가 및 선물유가들은 1차 적분된 시계열(I(1))로 보여진다. 현물유가들사이 및 현물유가와 선물유가사이에도 공적분관계(cointegration relation)가 있는 것으로 보여진다. 한편, 선물유가는 현물 유가를 인과(Granger-cause)하지만, 현물유가는 선물유가를 인과하지 않는 것으로 나타났다. 이러한 공적분관계 및 인과관계의 결과는 합리적 기대가설(rational expectations hypothesis)에 의한 효율적 석유시장(efficient oil markets)과 일치하는 것으로 보여진다. 수정오차모형(error correction model)에 의해 3/4분기 및 4/4분기의 유가들을 예측해 보았다.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.17 no.7
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• pp.245-255
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• 2016

Consumer expectation is divided into rational and emotional components with regard to the experience of products or services. The purpose of this study is to investigate the relationship between these two types of expectations and consumer satisfaction. For the theoretical framework, we use the dual expectation theory with respect to the should-expectation and will-expectation, and verify their effects on consumer satisfaction. The findings of this study imply that under rational expectation, consumer satisfaction increases when the result of their experience exceeds their expectation and the impact is stronger when the will-expectation is satisfied. Under emotional expectation, consumer satisfaction increases when the should-expectation exceeds the result of the actual performance, but decreases when there is disaccord between the will-expectation and performance. For emotional-based expectation, the impact on consumer satisfaction is stronger for should-expectancy disconfirmation than for will-expectancy disconfirmation.

• Journal of Korean Society of Transportation
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• v.21 no.3
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• pp.97-106
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• 2003

When a route choice is done under uncertainty, a driver has some expectation of traffic conditions that will occur according to the route chosen. This study tries to build a framework in which we can observe the learning behavior of the drivers' expectations of the travel time under nonstationary environment. In order to investigate how drivers have their subjective expectations on traffic conditions in response to public information, a numerical experiment is carried out. We found that rational expectations(RE) formation about the route travel time can be expressed by the adaptive expectation model when the travel time changes in accordance with the nonstationary process which consists of permanent shock and transient shock. Also, we found that the adaptive parameter of the model converges to the fixed value corresponding to the route conditions.

• Journal of Information Technology Services
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• v.19 no.6
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• pp.55-82
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• 2020

This study examined the factors that influence the turnover intention, job performance of call center representatives based on the adaptive structuration theory (AST). This study intended to empirically examine how individual characteristics of representative affect the technological and task adaptation, how they affect job performance and turnover intention. On the other hand, this study also explains how rational culture and organization a reputation which are considered as dimensions of organizational characteristics affects organizational commitment, and verifies the relationship between organizational commitment and job performance and turnover intention. Finally this paper aim to provide academic and practical implications. In order to solve the above research problems, this research proposed a model based on the adaptive structuration theory. In order to identify the relationship between the proposed variables and the AST for individual, we conducted an empirical test on the call center representatives. The structural equation model was used to verify the research model and hypotheses. The results of the empirical analysis show that the personal characteristics of counselors, such as communication skills, multitasking abilities, and innovativeness have a positive effect on skill adaptation, and skill adaptation has a positive effect on task adaptation, furthermore, it influences on job performance and turnover intention Respectively. In addition, among the factors of organizational environmental dimensions of the call center, it was found that organizational reputation not only increase continuance commitment but also increase normative commitment. Contrary to our expectations, perceived rational culture didn't have a positive effect on organizational commitment. Also, continuance commitment and normative commitment are valid predictors of job performance, but they have nothing to do with turnover intention. On the contrary, emotional commitment is the only one variable among three dimensions of organizational commitment have a positive effect on turnover intention, but is not a valid predictor of job performance.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.1
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• pp.153-166
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• 2022

The study estimates the Structured VAR and the Dynamic Stochastic General Equilibrium Model for the Vietnamese economy based on the new Keynesian model for small and open economies, with the output gap, inflation, policy interest rate, the Vietnamese exchange rate, and the inflation and interest rate in the United States. The paper aims to clarify the impulse response of the macro variables through their shocks. It offers to model the SVAR and DSGE processes, as well as describe why and how interest rate policy is important in the impulse response of macro variables like the output gap and inflation process. The study supports the central role of monetary policy by giving empirical evidence for the new Keynesian theory, according to which an interest rate shock causes the output gap to widen and inflation to decrease. Finally, the application of the DSGE model is becoming more and more popular in the State Bank of Viet Nam to improve its policy planning, analyzing, and forecasting policy towards sustainable and stable growth.

• Journal of the Korean Geographical Society
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• v.43 no.1
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• pp.104-116
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• 2008

Overheated speculation areas which have high potential of becoming speculative are the target of many real estate policies. This paper proposes a model for spatial patterns of house price volatility and suggests a spatial pattern of overheated speculation areas. House prices are determined by economic behaviors of sellers and buyers who have rational or adaptive expectations. Spatial patterns of house price volatility are formed by tendencies of their economic behavior. If there is a majority of adaptive sellers and buyers in an area, it may appear as a "hotspot" by showing high volatility of house prices and simultaneous price increases. Overheated speculation areas are formed by adaptive sellers and buyers who want to realize maximum expectation profit, therefore these areas patterns are defined as hotspot patterns of price volatility.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.11
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• pp.429-437
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• 2020

The paper investigates the antecedents of Organic Food (OF) produce in Vietnam and the intentions and behavior of OF purchasers. A theoretical framework is developed and evaluated by simulation of the structural model. Data was collected from a convenient sample of 222 consumers from Ho Chi Minh City in Vietnam. The selection included 159 (72%) women, who were identified as being the primary buyers of organic food for their family (73%). Findings suggest food hygiene issues and conscientious self-identity as the much beneficial determinants of organic production perceptions. Because of the results in this report, the consideration for food security has gained little research consideration throughout the field of organic produce. Food safety concerns are also related to academics exploring consumer confidence as they might be regarded as one of their aspects in selecting standard, natural or health food products. Findings suggest food security as one of the essential determinants of motivation, while health awareness purports to become the least significant motivation, contrary to observations from certain previous studies. However, it is observed that moral personality-identity influences both perceptions and willingness to buy organic food, stressing that the association of participants with ethical concerns influences their perceptions and eventual choices of consumption.