Volatility plays a central role in both academic and practical applications, especially in pricing financial derivative products and trading volatility strategies. This study presents a novel mechanism based on generalized autoregressive conditional heteroskedasticity (GARCH) models that is able to enhance the performance of intelligent volatility trading systems by predicting Korean stock market volatility more accurately. In particular, we embedded the concept of the volatility asymmetry documented widely in the literature into our model. The newly developed Korean stock market volatility index of KOSPI 200, VKOSPI, is used as a volatility proxy. It is the price of a linear portfolio of the KOSPI 200 index options and measures the effect of the expectations of dealers and option traders on stock market volatility for 30 calendar days. The KOSPI 200 index options market started in 1997 and has become the most actively traded market in the world. Its trading volume is more than 10 million contracts a day and records the highest of all the stock index option markets. Therefore, analyzing the VKOSPI has great importance in understanding volatility inherent in option prices and can afford some trading ideas for futures and option dealers. Use of the VKOSPI as volatility proxy avoids statistical estimation problems associated with other measures of volatility since the VKOSPI is model-free expected volatility of market participants calculated directly from the transacted option prices. This study estimates the symmetric and asymmetric GARCH models for the KOSPI 200 index from January 2003 to December 2006 by the maximum likelihood procedure. Asymmetric GARCH models include GJR-GARCH model of Glosten, Jagannathan and Runke, exponential GARCH model of Nelson and power autoregressive conditional heteroskedasticity (ARCH) of Ding, Granger and Engle. Symmetric GARCH model indicates basic GARCH (1, 1). Tomorrow's forecasted value and change direction of stock market volatility are obtained by recursive GARCH specifications from January 2007 to December 2009 and are compared with the VKOSPI. Empirical results indicate that negative unanticipated returns increase volatility more than positive return shocks of equal magnitude decrease volatility, indicating the existence of volatility asymmetry in the Korean stock market. The point value and change direction of tomorrow VKOSPI are estimated and forecasted by GARCH models. Volatility trading system is developed using the forecasted change direction of the VKOSPI, that is, if tomorrow VKOSPI is expected to rise, a long straddle or strangle position is established. A short straddle or strangle position is taken if VKOSPI is expected to fall tomorrow. Total profit is calculated as the cumulative sum of the VKOSPI percentage change. If forecasted direction is correct, the absolute value of the VKOSPI percentage changes is added to trading profit. It is subtracted from the trading profit if forecasted direction is not correct. For the in-sample period, the power ARCH model best fits in a statistical metric, Mean Squared Prediction Error (MSPE), and the exponential GARCH model shows the highest Mean Correct Prediction (MCP). The power ARCH model best fits also for the out-of-sample period and provides the highest probability for the VKOSPI change direction tomorrow. Generally, the power ARCH model shows the best fit for the VKOSPI. All the GARCH models provide trading profits for volatility trading system and the exponential GARCH model shows the best performance, annual profit of 197.56%, during the in-sample period. The GARCH models present trading profits during the out-of-sample period except for the exponential GARCH model. During the out-of-sample period, the power ARCH model shows the largest annual trading profit of 38%. The volatility clustering and asymmetry found in this research are the reflection of volatility non-linearity. This further suggests that combining the asymmetric GARCH models and artificial neural networks can significantly enhance the performance of the suggested volatility trading system, since artificial neural networks have been shown to effectively model nonlinear relationships.
In this paper, we suggest an application system architecture which provides accurate, fast and efficient automatic gasometer reading function. The system captures gasometer image using mobile device camera, transmits the image to a cloud server on top of private LTE network, and analyzes the image to extract character information of device ID and gas usage amount by selective optical character recognition based on deep learning technology. In general, there are many types of character in an image and optical character recognition technology extracts all character information in an image. But some applications need to ignore non-of-interest types of character and only have to focus on some specific types of characters. For an example of the application, automatic gasometer reading system only need to extract device ID and gas usage amount character information from gasometer images to send bill to users. Non-of-interest character strings, such as device type, manufacturer, manufacturing date, specification and etc., are not valuable information to the application. Thus, the application have to analyze point of interest region and specific types of characters to extract valuable information only. We adopted CNN (Convolutional Neural Network) based object detection and CRNN (Convolutional Recurrent Neural Network) technology for selective optical character recognition which only analyze point of interest region for selective character information extraction. We build up 3 neural networks for the application system. The first is a convolutional neural network which detects point of interest region of gas usage amount and device ID information character strings, the second is another convolutional neural network which transforms spatial information of point of interest region to spatial sequential feature vectors, and the third is bi-directional long short term memory network which converts spatial sequential information to character strings using time-series analysis mapping from feature vectors to character strings. In this research, point of interest character strings are device ID and gas usage amount. Device ID consists of 12 arabic character strings and gas usage amount consists of 4 ~ 5 arabic character strings. All system components are implemented in Amazon Web Service Cloud with Intel Zeon E5-2686 v4 CPU and NVidia TESLA V100 GPU. The system architecture adopts master-lave processing structure for efficient and fast parallel processing coping with about 700,000 requests per day. Mobile device captures gasometer image and transmits to master process in AWS cloud. Master process runs on Intel Zeon CPU and pushes reading request from mobile device to an input queue with FIFO (First In First Out) structure. Slave process consists of 3 types of deep neural networks which conduct character recognition process and runs on NVidia GPU module. Slave process is always polling the input queue to get recognition request. If there are some requests from master process in the input queue, slave process converts the image in the input queue to device ID character string, gas usage amount character string and position information of the strings, returns the information to output queue, and switch to idle mode to poll the input queue. Master process gets final information form the output queue and delivers the information to the mobile device. We used total 27,120 gasometer images for training, validation and testing of 3 types of deep neural network. 22,985 images were used for training and validation, 4,135 images were used for testing. We randomly splitted 22,985 images with 8:2 ratio for training and validation respectively for each training epoch. 4,135 test image were categorized into 5 types (Normal, noise, reflex, scale and slant). Normal data is clean image data, noise means image with noise signal, relfex means image with light reflection in gasometer region, scale means images with small object size due to long-distance capturing and slant means images which is not horizontally flat. Final character string recognition accuracies for device ID and gas usage amount of normal data are 0.960 and 0.864 respectively.
This thesis examined Chu Hsi's self-cultivation theory as the representative theory of cultivation in Confucianism, while juxtaposing it to self-cultivation theory in Daesoon thought, concentrating on its similarity and difference. Neo-Confucianism is a scholarship which has wielded a tremendous influence upon East Asia, while functioning as an official scholarship for long period up to Yuan, Ming, and Ching period, after achieving its synthesis by Chu Hsi. After 13th century, Neo-Confucianism has been a representative academic system in Confucianism, and self-cultivation theory was in its center. It suggested various virtues that classical scholars have to equip to fulfill the sainthood and the politics of royal road. The self-cultivation theory of Chu Hsi was developed upon the basis of the theory 'Li-Qi' and the theory of mind. Here, the practice of Geokyung(morally awakened state with a reverent spirit in every moment) and Gyeokmul-tsiji(reaching into the utmost knowledge through investigation of things) formed a nucleus of Chu Hsi's self-cultivation theory. While Geokyung was to reveal one's true nature through cultivation of mind, Gyeokmul-tsiji was to demonstrate the complete use of mind's essence and function. Chu Hsi's self-cultivation theory attempted to realize the unity of heaven and man, and through cultivating self and governing people, it also tried to achieve its ideal of the society of Great Union(Daedong). Daesoon Thought is originated from Sangjenim who has descended to this world as a human being called Jeungsan. He went on his circuit to rectify the disorder of heaven and earth for 9 years to rectify the Three worlds of heaven, earth and human being which were faced with total annihilation due to its rule of mutual conflict, while creating an earthly paradise. Respecting the will of Sangjenim, Dojunim established the foundation of Do through launching 'Meukeukdo' and setting tenet, creed and object so that the cultivators (Doins) could believe and respect the truth of Sangje's great itineration (Daesoon). Among those, the two components of creed, which are four fundamental principles and the three fundamental attitudes are of great account as precept and cardinal point. Through this means, the cultivators of Daesoonjinrihoe aspire to guard against self-deception through transforming the human spirit, to realize earthly immortality through renewing human beings, and to create an earthly paradise through transforming the world. This thesis attempted to compare and analyze the theory of self-cultivation in Neo-Confucianism and Daesoon Thought in the aspect of ground, method, and object of cultivation. First, as for the ground of cultivation, the doctrines of Chu-tzu and Daesoon thought place the essence of cultivation on 'heaven'. Yet, whereas the former postulates Taekeuk (the Great Ultimate) as a principle as well as the heaven of a natural order, Daesoon thought postulates Sangenim as the heaven of superintendence as well as the heaven of a natural order, signified as its equation of Daesoon with circle, along with the unity of Meukeuk (Endlessness) and Taegeuk (the Great Ultimate). Further, the doctrine of Chu-zhu and Daesoon thought is identical in the point that both thoughts see mind as the subject of cultivation, while trying to restore a pure essence. Nevertheless, whereas Neo-Confucianism intends to give scope to ability of the complete use of mind's essence and function, Daesoon Thought sees mind as the essence which is used by spiritual beings and as an organ that heaven, earth and human being rely upon as the center of the universe. In the aspect of method of cultivation, the doctrine of Chuzhu lays emphasis on the rational factor in that it brightens its 'myung-deoki'(bright inner virtue),' while trying to correspond to the law of heaven on the basis of 'Geokyung' and 'Gyeokmul-tsiji.' On the contrary, Daesoon thought lays much emphasis on faith factor in that it aspires for human perfection based on the restoration of conscience by cultivating Daesoonjinri with sincerity, reverence and faith along with 'quieting the heart-mind', 'quieting the body', 'respecting the God of the Ninth Heaven', and 'observing ritual practice on the basis of the faith in Sangjenim. Yet, both thoughts have similarities in that cultivation of body forms the basis and that they attempt to realize their ideals through cultivation in daily life while taking 'Guarding against self-deception' as the key method of self-cultivation.' However, the principle of Chu-zhu can be said to be a voluntary and autonomous practice based on scripture of the saint as well as self-reflection. On the other hand, Daesoon thought reveals certain difference in that it combines faith factor with one's self-effort by concentrating on cultivation under the presence of Sangjenim as the object of belief and the spirits of heaven and earth. In the aspect of object of cultivation, both thoughts share similarities in that the saint and the perfected gentleman with a moral virtue as an ideal image of men in both thoughts attempt to realize each of their 'myung-deok' in human nature as a heavenly mandate while respecting morality. Further, they also share similarity in the point that the desirable characters in both thoughts want to participate in harmonious creation and nurturance. Yet, the perfected gentleman with a moral virtue is also characterized by its aim for a new heaven and earth where there is no mutual conflict but mutual beneficence, by promoting the moral influence and virtue of Sangjenim over one's own virtue, while practising the mutual beneficence of all life through harmonious union of divine beings and human beings.
It is not new that today's business organizations are expected to exhibit ethical and moral management and to carry out social responsibility as a good corporate citizen. Since South Korea emerged as a newly industrialized country during the 1980s, Korean corporations have become active in carrying out their social responsibility as a good corporate citizen to society. In spite of the short history of corporate social responsibility, Korean companies have actively participated in corporate philanthropy. Corporations' significant donations to various social causes, no-lay-off policies, corporate volunteerism and green marketing are evidences of their commitment to corporate citizenship. Corporate social responsibility is now an essential management practice whereby corporation can strengthen its sustainable value creation processes by enhancing the trust assets underlying the relationships between the business and the stakeholders. Much of the conceptual work in the area of corporate social responsibility(CSR) has originated from researches conducted in the management field. Carroll(1979) proposed that corporations have four types of social responsibilities: economic, legal, ethical and philanthropic responsibility. Most past research has investigated CSR and its impact on consumers' attitudes toward the corporations and corporate performances. Although there exists a large body of literature on how consumers perceive and respond to CSR, the majority of past studies were conducted in the United States. The stability and applicability of past findings need to be tested across different national/cultural settings, especially since corporate social responsibility is a reflection of implicit conformation with the expectations and criticism that society may have toward a corporation(Matten and Moon, 2004). In this study, we explored whether people in Korea perceive CSR of Korean corporations in the same four dimensions as done in the United States and what were the measurement items tapping each of these four dimensions. In order to investigate the dimensions of CSR and the measurement items for CSR perceived by Korean people, nine focus group interviews were conducted with several stakeholder groups(two with undergraduate students, two with graduate students, three with general consumers, and two with NGO groups). Scripts from the interviews revealed that the Korean stakeholders perceived four types of CSR which are the same as those proposed by Carroll(1979). However we found CSR issues unique to Korean corporations. For example for the economic responsibility, Korean people mentioned that the corporation needed to contribute to the economic development of the country by generating corporate profits. For the legal responsibility, Koreans included the "corporation need to follow the consumer protection law." For the ethical responsibility, they considered that the corporation needed to not promote false advertisement. In addition, Koreans thought that an ethical company should do transparent management. For the philanthropic responsibility, people in Korea thought that a corporation needed to return parts of its profits to the society for the betterment of society. The 28 items were developed based on the results of the nine focus group interviews, while considering the scale developed by Maignan and Ferrell(2001). Following the procedure proposed by Churchill(1979), we started by developing an item poll consisting of 28 items and purified the initial pool of items through exploratory, confirmatory factor analyses. 176 samples were sued for this analysis. Confirmatory factor analysis was performed on the 28 items in order to verify the underlying four factor structure. Study 1 provided new measurement items for tapping the Korean CSR dimensions, which can be useful for the future studies exploring the effects of CSR on Korean consumers' attitudes toward the corporations and corporate performances. And we found the CSR scale(17 items) has good reliability, discriminant validity and nomological validity. Economic Responsibility: "XYZ company continuously improves the quality of our products", "XYZ company has a procedure in place to respond to customer complaint", "XYZ company contributes to the economic development of our country by generating profits", "XYZ company is eager to hire people". Legal Responsibility: "XYZ company's products meet legal standards", "XYZ company seeks to comply with all laws regulating hiring and employee benefits", "XYZ company honors contractual obligations to its suppliers", "XYZ company's managers try to comply with the law related to the business operation". Ethical Responsibility: "XYZ company has a comprehensive code of conduct", "XYZ company does not promote a false or misleading advertisement", "XYZ company seems to conduct a transparent business", "XYZ company does a fair business with its suppliers or sub-contractors". Philanthropic Responsibility: "XYZ company encourages partnerships with local businesses and schools", "XYZ company supports sports and cultural activities", "XYZ company gives adequate contributions to charities considering its business size", "XYZ company encourages employees to support our community". Study 2 was condusted for comprehensive validity. 655 samples were used for this anlysis. Collected samples were tested by factor analysis and Crnbach's Alpha coefficiednts and were found to be satisfactory in terms of validity and reliability. Furthermore, fitness of the measurement model was tested by using conformatory factor analysis. χ2=880.73(df=160), GFI=0.891, AGFI=0.854, NFI=0.908, NNFI=0.913, RMR=0.059, RMESA=0.070. We hope that CSR scale could greatly facilitate research on Corporate social resposibility, it is by no means the final answer.
Korean Peninsula, located on the southeastern part of Eurasian plate, belongs to the intraplate region. The characteristics of intraplate earthquake show the low and rare seismicity and the sparse and irregular distribution of epicenters comparing to interplate earthquake. To evaluate the exact seismic activity in intraplate region, long-term seismic data including historical earthquake data should be archived. Fortunately the long-term historical earthquake records about 2,000 years are available in Korea Peninsula. By the analysis of this historical and instrumental earthquake data, seismic activity was very high in 16-18 centuries and is more active at the Yellow sea area than East sea area. Comparing to the high seismic activity of the north-eastern China in 16-18 centuries, it is inferred that seismic activity in two regions shows close relationship. Also general trend of epicenter distribution shows the SE-NW direction. In Korea Peninsula, the first seismic station was installed at Incheon in 1905 and 5 additional seismic stations were installed till 1943. There was no seismic station from 1945 to 1962, but a World Wide Standardized Seismograph was installed at Seoul in 1963. In 1990, Korean Meteorological Adminstration(KMA) had established centralized modem seismic network in real-time, consisted of 12 stations. After that time, many institutes tried to expand their own seismic networks in Korea Peninsula. Now KMA operates 35 velocity-type seismic stations and 75 accelerometers and Korea Institute of Geoscience and Mineral Resources operates 32 and 16 stations, respectively. Korea Institute of Nuclear Safety and Korea Electric Power Research Institute operate 4 and 13 stations, consisted of velocity-type and accelerometer. In and around the Korean Peninsula, 27 intraplate earthquake mechanisms since 1936 were analyzed to understand the regional stress orientation and tectonics. These earthquakes are largest ones in this century and may represent the characteristics of earthquake in this region. Focal mechanism of these earthquakes show predominant strike-slip faulting with small amount of thrust components. The average P-axis is almost horizontal ENE-WSW. In north-eastern China, strike-slip faulting is dominant and nearly horizontal average P-axis in ENE-WSW is very similar with the Korean Peninsula. On the other hand, in the eastern part of East Sea, thrust faulting is dominant and average P-axis is horizontal with ESE-WNW. This indicate that not only the subducting Pacific Plate in east but also the indenting Indian Plate controls earthquake mechanism in the far east of the Eurasian Plate. Crustal velocity model is very important to determine the hypocenters of the local earthquakes. But the crust model in and around Korean Peninsula is not clear till now, because the sufficient seismic data could not accumulated. To solve this problem, reflection and refraction seismic survey and seismic wave analysis method were simultaneously applied to two long cross-section traversing the southern Korean Peninsula since 2002. This survey should be continuously conducted.
This study examined the Korean folklore "Borrowed Fortune from Heaven" from the perspective of Analytical Psychology, considering it a manifestation of the human psyche, and tried to gain a deeper understanding of what happens in our mind. Through the exploration, the researcher was able to re-identify the ongoing psychological process operating in the depths of our mind, pertaining to the emergence of a new dimension of consciousness. Particularly the researcher was able to gain some insights into how the potential psychic elements for the new consciousness are prepared in the unconscious, how they get integrated into the conscious life, and what is essential for the accomplishment of the process. The tale begins with a poor woodcutter who, in order to escape from poverty, starts gathering twice as much firewood. However, the newly acquired amount disappears overnight, so the woodcutter gets perplexed and curious about where it goes and who is taking it. He seeks to find out the truth, which leads him to an unexpected journey to Heaven. There he learns the truth concerning his very tiny amount of fortune, and discovers another big fortune for an unborn person. By pleading with the ruler of Heaven, the woodcutter borrows that grand fortune, on the condition that he must return it to the owner when the time comes. After that, the woodcutter's life undergoes a series of changes, in which he finally becomes a wealthy farmer, but gradually is reminded more and more that the destined time is approaching. In the end, the fortune is completely transferred to the original owner, resulting in a dramatic twist and the creation of a new life circumstances. The overall plot can be understood as a reflection of the psychological process aiming at the evolution of consciousness through renewal. In this context, the woodcutter can be considered a psychic element that undergoes a continuous transformation in preparation for participating in the upcoming new consciousness. In other words, the changes brought about by this figure can be interpreted as a gradual and increasingly detailed foreshadowing of what the forthcoming new consciousness would be like. Interestingly, as the destined time approaches, the protagonist's anguish in conflict reaches its climax, despite his good performance in his role until then. This effectively portrays the difficulty of achieving a new dimension of consciousness, which requires moving past the last step. All the events in the story ultimately converge at this point. After all, the resolution occurs when the protagonist lets go of everything he has and follows the will of Heaven. This implies what is essential for the renewal of consciousness. Only by completely complying with the entire mind, the potential constituents of the new consciousness that should play important roles in a renewal and evolution of consciousness through experiencing, can participate in the ultimate outcome. As long as they remain trapped in any intermediate stage, the totality of the psyche would develop another detour aiming at the final destination, which means the beginning of another period of suffering carrying a purposeful meaning. The tale suggests that this truth will be applied everywhere that renewal of consciousness is directed, whether for an individual or a society.
The study attempts to interpret original location and landscape composition of Yowol-pavilion Garden under the premise that tablet and poetry are important criteria for inference of unique location and landscape composition of a pavilion garden. The study raises the meaning, status, and value of Yowol Pavilion Garden as a cultural asset. The results of the study are as follows. First, Yowol-pavilion Garden was a place where famous Confucius scholars in Joseon Dynasty in 16th Century, including Kim, Kyung-Woo, the owner of the garden, used to share the taste for the arts and poetries with their colleagues. Along with a main characteristic of Yowol Pavilion Garden as a hideout for the Confucius scholars who stayed away from a political turmoil, the new place characteristic of the garden, a bridgehead for the formation of regional identity, was discovered in the record of "Joseon-Hwanyeo-Seungram Honam-Eupji JangSeong-Eupji", As described in "The first creative poetry of Yowol-pavilion", the intention for the creation of Yowol-pavilion Garden and the motive for its landscape composition is interpreted as a space of rivalry where the world, reality and ideals are mixed up. Second, related to outstanding scenic factors and natural phenomena when taking a view from the pavilion, the name of the house 'Yowol', which means 'Greeting the moon rising on the Mt. Wolbong' is the provision of nature and taste for the arts, and is directly connected to the image of leaving the worldly. In other words, the name was identified to be the one that reflected the intention for landscape composition to follow the provision of nature separating from joy and sorrow of the mundane world. Third, as for the location, it was confirmed through "YeongGwang-Soksu-Yeoji-Seungram" that Yowol-pavilion Garden was a place where the person who made the pavilion prepared for relaxation after stepping down from a government post, and literature and various poetry show that it was also a place of outstanding scenic where Yellow-dragon River meandered facing Mt. Wolbong. Especially, according to an interview with a keeper, the visual perception frequency of the nightscape of Yowol-pavilion Garden is the highest when viewing by considering the east, the direction of Yellow-dragon River, as Suksigak[normal angle's view], towards Yowel-pavilion from the keeper's house. In addition, he said that the most beautiful landscape with high perception strength is when the moon came up from the left side of Yowol-pavilion, cuts across the Lagerstroemia india heal in front of Yowol-pavilion, and crosses the meridian between Mt. Wolbong peaks facing Yowol-pavilion. Currently, the exposure of Yowol-pavilion Garden is
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The wall shear stress in the vicinity of end-to end anastomoses under steady flow conditions was measured using a flush-mounted hot-film anemometer(FMHFA) probe. The experimental measurements were in good agreement with numerical results except in flow with low Reynolds numbers. The wall shear stress increased proximal to the anastomosis in flow from the Penrose tubing (simulating an artery) to the PTFE: graft. In flow from the PTFE graft to the Penrose tubing, low wall shear stress was observed distal to the anastomosis. Abnormal distributions of wall shear stress in the vicinity of the anastomosis, resulting from the compliance mismatch between the graft and the host artery, might be an important factor of ANFH formation and the graft failure. The present study suggests a correlation between regions of the low wall shear stress and the development of anastomotic neointimal fibrous hyperplasia(ANPH) in end-to-end anastomoses. 30523 T00401030523 ^x Air pressure decay(APD) rate and ultrafiltration rate(UFR) tests were performed on new and saline rinsed dialyzers as well as those roused in patients several times. C-DAK 4000 (Cordis Dow) and CF IS-11 (Baxter Travenol) reused dialyzers obtained from the dialysis clinic were used in the present study. The new dialyzers exhibited a relatively flat APD, whereas saline rinsed and reused dialyzers showed considerable amount of decay. C-DAH dialyzers had a larger APD(11.70