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A Study about the Correlation between Information on Stock Message Boards and Stock Market Activity (온라인 주식게시판 정보와 주식시장 활동에 관한 상관관계 연구)

  • Kim, Hyun Mo;Yoon, Ho Young;Soh, Ry;Park, Jae Hong
    • Asia pacific journal of information systems
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    • v.24 no.4
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    • pp.559-575
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    • 2014
  • Individual investors are increasingly flocking to message boards to seek, clarify, and exchange information. Businesses like Seekingalpha.com and business magazines like Fortune are evaluating, synthesizing, and reporting the comments made on message boards or blogs. In March of 2012, Yahoo! Finance Message Boards recorded 45 million unique visitors per month followed by AOL Money and Finance (19.8 million), and Google Finance (1.6 million) [McIntyre, 2012]. Previous studies in the finance literature suggest that online communities often provide more accurate information than analyst forecasts [Bagnoli et al., 1999; Clarkson et al., 2006]. Some studies empirically show that the volume of posts in online communities have a positive relationship with market activities (e.g., trading volumes) [Antweiler and Frank, 2004; Bagnoli et al., 1999; Das and Chen, 2007; Tumarkin and Whitelaw, 2001]. The findings indicate that information in online communities does impact investors' investment decisions and trading behaviors. However, research explicating the correlation between information on online communities and stock market activities (e.g., trading volume) is still evolving. Thus, it is important to ask whether a volume of posts on online communities influences trading volumes and whether trading volumes also influence these communities. Online stock message boards offer two different types of information, which can be explained using an economic and a psychological perspective. From a purely economic perspective, one would expect that stock message boards would have a beneficial effect, since they provide timely information at a much lower cost [Bagnoli et al., 1999; Clarkson et al., 2006; Birchler and Butler, 2007]. This indicates that information in stock message boards may provide valuable information investors can use to predict stock market activities and thus may use to make better investment decisions. On the other hand, psychological studies have shown that stock message boards may not necessarily make investors more informed. The related literature argues that confirmation bias causes investors to seek other investors with the same opinions on these stock message boards [Chen and Gu, 2009; Park et al., 2013]. For example, investors may want to share their painful investment experiences with others on stock message boards and are relieved to find they are not alone. In this case, the information on these stock message boards mainly reflects past experience or past information and not valuable and predictable information for market activities. This study thus investigates the two roles of stock message boards-providing valuable information to make future investment decisions or sharing past experiences that reflect mainly investors' painful or boastful stories. If stock message boards do provide valuable information for stock investment decisions, then investors will use this information and thereby influence stock market activities (e.g., trading volume). On the contrary, if investors made investment decisions and visit stock message boards later, they will mainly share their past experiences with others. In this case, past activities in the stock market will influence the stock message boards. These arguments indicate that there is a correlation between information posted on stock message boards and stock market activities. The previous literature has examined the impact of stock sentiments or the number of posts on stock market activities (e.g., trading volume, volatility, stock prices). However, the studies related to stock sentiments found it difficult to obtain significant results. It is not easy to identify useful information among the millions of posts, many of which can be just noise. As a result, the overall sentiments of stock message boards often carry little information for future stock movements [Das and Chen, 2001; Antweiler and Frank, 2004]. This study notes that as a dependent variable, trading volume is more reliable for capturing the effect of stock message board activities. The finance literature argues that trading volume is an indicator of stock price movements [Das et al., 2005; Das and Chen, 2007]. In this regard, this study investigates the correlation between a number of posts (information on stock message boards) and trading volume (stock market activity). We collected about 100,000 messages of 40 companies at KOSPI (Korea Composite Stock Price Index) from Paxnet, the most popular Korean online stock message board. The messages we collected were divided into in-trading and after-trading hours to examine the correlation between the numbers of posts and trading volumes in detail. Also we collected the volume of the stock of the 40 companies. The vector regression analysis and the granger causality test, 3SLS analysis were performed on our panel data sets. We found that the number of posts on online stock message boards is positively related to prior stock trade volume. Also, we found that the impact of the number of posts on stock trading volumes is not statistically significant. Also, we empirically showed the correlation between stock trading volumes and the number of posts on stock message boards. The results of this study contribute to the IS and finance literature in that we identified online stock message board's two roles. Also, this study suggests that stock trading managers should carefully monitor information on stock message boards to understand stock market activities in advance.

Changes in prevalence of obesity according to gender in Korea adults: Using a population-based Korea National Health Check-up Database, 2011-2013 (우리나라 성인의 성별에 따른 비만유병률의 변화 : 국민건강보험 건강검진(2011-2013) 자료 이용)

  • Choi, Oh-Jong;Cho, Sung-Il
    • Korean Public Health Research
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    • v.44 no.4
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    • pp.87-97
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    • 2018
  • Background: Recently, the prevalence of obesity (body mass index [BMI] ${\geq}25kg/m^2$) has been increasing rapidly worldwide over a short period. In Korea, the prevalence of obesity has also increased rapidly due to the rapid socio-economic development and lifestyle changes, with differing patterns according to gender. This study aimed to compare the change in obesity prevalence according to gender among the adult population in Korea using representative data, the National Health Check-up Database (NHCD), to follow-up individuals who had undergone checkups during both years in Korea (2011~2013). Methods: To analyze the changes in obesity prevalence in the recent two years, data regarding men and women who had undergone health check-ups in both two years (2011, 2013) were extracted. The final study population comprised 144,934 persons: 83,604 (58%) males and 61,330 (42%) females. Chi-square test within a univariate analysis, and the level of factor difference was verified with t-test, one-way ANOVA and multiple comparison. Results: In 2011, one out of three participants was obese (BMI ${\geq}25kg/m^2$; male, 37.7%; female, 27.3%) and more than half of the subjects were overweight (BMI ${\geq}23kg/m^2$; male, 65.6%; female, 50.4%) requiring obesity management. For the two years, the BMI of the participants significantly increased (p < .0001) and the prevalence of obesity increased among both males and females. The prevalence of obesity was higher among both genders with a longer duration of smoking, more smoking, family history of hypertension, and family history of diabetes. However, residence, income level, drinking status, psychiatric disorder, disability status and severity of disability were the opposite gender. Conclusion: In the analysis of data, the prevalence of obesity among both men and women was increasing. The degree of change in the prevalence of obesity among men and women was different in each variable. Thus, it will need to consider gender in developing health policies for obesity mediation and to provide integrated healthcare and management for those people.

How the Information Location (up vs. down) Impacts Promotion Attractiveness and Amount Perception (판매촉진 정보의 위치(위vs.아래)가 판매촉진 매력도 및 증정량 지각에 미치는 영향)

  • Jang, JungMin;Kim, Yeong-Ju
    • (The) Korean Journal of Advertising
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    • v.27 no.3
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    • pp.7-25
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    • 2016
  • According to recent studies, the location of visual information has a significant impact on consumers' interpretation and judgment in various contexts. In particular, vertical positioning is relevant to the perception of weight: consumers tend to interpret that products are heavier when information is placed at the bottom of a page or section rather than the top. This is due to the common perception that heavy things would sink to the bottom and light things would float up. Consistent with this research stream, the current study investigates how the vertical location of freebie information influences promotion evaluation. We hypothesize that consumers assume that the complimentary product is heavier when the information about it is displayed at the bottom compared to when the information is displayed at the top. Two experiments were conducted. In experiment 1, we show how the location of "get one free" information impacts the evaluation of the sales promotion in a "Buy two and get one free" context. When the complimentary information was displayed below rather than above the main product information, consumers evaluated the sales promotion more favorably. Experiment 2 tests the generalizability of the vertical location effect by using a different type of information and product: a visual picture of vitamin tablets rather than the numeric information as in Experiment 1. The dependent variable was also extended to the perceived amount of the promoted product. We suggest the boundary condition that the proposed effect is moderated by the presence or absence of an explicit message about the amount. Without an explicit message about the amount of the product, the results were similar to those of experiment 1 in that consumers perceived that the product offered a greater amount when the complimentary information was displayed at the bottom rather than at the top. However, the location effect disappeared with an explicit message about the amount. This confirms the moderating effect that presenting an explicit message about the amount is a crucial boundary condition for location effect in a value added promotion. Marketers can use this knowledge to formulate strategies in a variety of sales promotion conditions.

A Study on the Necessity Verification of Convex Probe Disinfection (Convex Probe 소독 필요성 검증에 관한 연구)

  • Choi, Kwan-Yong;Yoo, Se-jong;Lee, Jun-ho;Hong, Sung-Yong
    • Journal of the Korean Society of Radiology
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    • v.13 no.2
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    • pp.193-200
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    • 2019
  • The study was conducted surveying ultrasound room workers on hospital infection awareness in Daejeon and Choong-chunng region. The contamination of ultrasonic probes used in clinical trials was measured using ATP, and the results were verified after using 70% alcohol sterilization. It was measured on the group's general characteristics and the specific categories such as academic background, job type, having professional certificate and infection education. After the examination, the gel removal and method, disinfection status of the probe and variable correlation analysis were performed to analyze the recognition of the ultrasonic probe disinfection. After examination in ultrasound room, it was found that towels were used the most for cleaning, and the gel container was not replaced for more than three months. After 70% alcohol disinfection, ATP contamination was reduced from $1055.4{\pm}944.2$ to $133.5{\pm}93.2$ and the result was analyzed to be statistically significant.(${\rho}<0.01$) The found bacteria were CNS, Gram positive bacillus, and Micrococcus specs. In order to solve this problem, 70% alcohol sterilization was applied and the bacteria were not detected after the treatment. The research shows that regular training on infection control and efforts to prevent infection are necessary, and that 70% alcohol is effective in disinfect the bacteria. Therefore, the medical institution should provide active hospital infection control education to improve the awareness of hospital infection among workers and contribute to the prevention of patient infection. It is also understood that proper use of the results of this study will help prevent infection by means of ultrasonic probes.

Changes in Temperature and Humidity in the Forest Caused by Development (도로에 의한 산림 내 온습도 변화)

  • Choi, Jaeyong;Park, Myung-Soo;Kim, Su-Kyung;Yu, Seung-Hyeon;Choi, Won-Tae;Song, Wonkyong;Kim, Whee-Moon;Kim, Seoung-Yeal;Lee, Ji-Young
    • Journal of Environmental Impact Assessment
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    • v.27 no.6
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    • pp.604-617
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    • 2018
  • As the depletion of forests became more widespread due to the increase in the number of roads, the research was conducted on the relationship between temperature and humidity in the forests, assuming that the forests around the roads were affected. Through the forest monitoring, the temperature and humidity of coniferous forests and broadleaf forests in Sedong and Gongju areas were observed at three point of 10m, 20m and 30m from the road boundary to the inside of the forest, respectively. In Yeongdong area, for more reliable results, it was observed from the point of 0m, 10m, and 20m. During the study period, so it was expected the change in tree growth was small, the change of temperature and humidity inside the forest by the road was compared with the temperature and humidity from the road to the inside of the forest from September 2017 to January 2018, the changes of temperature and humidity inside the forest due to linear development such as roads were quantitatively analyzed. Using the HOBO data logger (MX2301, Onset Corp.), the temperature and humidity changes of each site were measured, and the average of the changes have been analyzed monthly. In the case of Gongju coniferous forests in September 2017, the average weekly temperature is $0.57^{\circ}C$ higher than the forest outside from the forest boundary and $1.23^{\circ}C$ higher than the inside of the forest, at night in November 2017, in Sedong broadleaf forests. That is, the ability to control the temperature and humidity of the forests along the road was larger and less variable as the distance from the road boundary to the inside of the forest increased. In this study, it is considered that the high degree of change in temperature and humidity of the forest and the surrounding area due to artificial linear development such as roads will affect the growth of trees. This results could serve as a basis for studying the quantitative scope of linear development affecting forest growth and for managing forest change caused by linear development.

Extraction of Essential Design Elements for Urban Parks - Based on the Analysis of 2017 Satisfaction Survey of Park Use in Seoul - (도시공원의 필수 설계요소 추출 - 2017년 서울시 공원이용 만족도 조사의 결과 분석을 바탕으로 -)

  • Lee, Jae Ho;Kim, Soonki
    • Journal of the Korean Institute of Landscape Architecture
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    • v.46 no.6
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    • pp.41-48
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    • 2018
  • The aim of this study is to provide foundational knowledge of how to enhance the user satisfaction of urban parks. The study seeks to identify essential factors that influence user satisfaction and to provide better design strategies for future park design as well as the reorganization of existing ones. To measure user satisfaction, this study used factor analysis to extract essential factors - facility conditions, landscape and scenery, safety, and kindness - by using data from a survey conducted by the city of Seoul in 2017. We then used a regression analysis to infer causal relationships between the independent variables and the dependent variables (user satisfaction). The results revealed that the most significantly and positively related variable to user satisfaction in urban parks was safety (${\beta}=0.276$, p<.000), followed by landscape and scenery (${\beta}=0.230$, p<.000), facility conditions (${\beta}=0.215$, p<.000), and kindness (${\beta}=0.208$, p<.000). The results indicate that, for future urban park designs, planners and designers should prioritize the issues of safety by adopting crime prevention through environmental design (CPTED). In addition, planners and designers of future park designs should heavily weigh the selection and provision of relevant facilities for the intended use as well as well-arranged and well-managed plants and trees. Based on the results of IPA analysis, the most urgent improvement elements appeared to be the factor of kindness; however, the impact of kindness influencing user satisfaction was less important than that of safety and landscape and scenery in the urban park design processes. This study demonstrates that to maximize the user satisfaction of the urban park design processes and to provide more valuable spaces for users, it is necessary to secure park safety and to create well-composed landscape and scenery. Future research should provide more detailed and specified urban park design strategies corresponding with the importance of the factors identified in this study.

Analysis of the Longitudinal Relationship between Recovery and Adaptation Factors According to Types of School Violence Exposure in Youth: Focusing on Resilience and Social Support (청소년의 학교폭력노출 유형에 따른 회복과 적응을 위한 요인 간의 종단적 관계 분석: 사회적지지와 회복탄력성을 중심으로)

  • Kim, Dongil;lee, hye eun;Keum, ChangMin;Park, Altteuri;Oh, Jiwon
    • (The) Korean Journal of Educational Psychology
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    • v.32 no.1
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    • pp.99-130
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    • 2018
  • The purpose of this study was to examine the longitudinal relationship between resilience and social support of school violence exposure types including school bullying, victimization, and dual experience. The study used data obtained from the third year (2012) of the Seoul Education Longitudinal Study of 1,137 elementary school students in grade 6 who reported experiencing school violence. The results of the autoregressive cross-lagged model are as follows. First, as a result of measuring the self-regression coefficients of resilience and social support of the youth exposed to school violence at 3 time points (2012, 2014, and 2016), it was found for all types of violence that resilience and social support at the previous time point showed a signigicant positive effect on the same variable at the next time point. Second, in the case of the cross-lagged effects of resilience and social support, the effect of previous social support on resilience at the next time point was statistically significant for the victimization group, but not for the bullying or dual experience groups. Third, considering the opposite path from resilience to social support, resilience at the previous time point had a significant influence on the social support at the next time point for both the bullying and victimization groups. This result is new and can be complementary to the cross-sectional studies so far using a longitudinal view. The results of this study suggest that the bullying and victimized students who are relatively more resilient are less likely to perceive social support than those who are not resilient. Finally, we discuss the longitudinal relationship between resilience and social support, the limitations of this study, and implications for future research.

A Study on the Influence of Office Workers' Job Performance Ability, Retirement Readiness, and Future Anxiety on Entrepreneurship Will: Focusing on the Mediating Effect of Another Success Expectation on Life after Retirement (직장인의 직무수행능력, 노후준비도, 미래불안감이 창업의지에 미치는 영향연구: 퇴직후 삶에 대한 또 다른 성공기대감의 매개효과를 중심으로)

  • Park, Gug Gun;Ha, Kyu Soo
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.15 no.6
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    • pp.167-187
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    • 2020
  • Currently, Korea is changing into an ultra-aging society, and office workers retire at the age of 49.5 on average from their main jobs, and the national pension is delayed from 62 years old to 65 years old by 2034, so research is needed to prepare for the aging of office workers after retirement. The purpose of this study is to examine the factors affecting the intention to start a business after retirement and the mediating effect of another sense of success expectation on life after retirement, targeting office workers nationwide. Changes in individual attitudes and systematic institutional support are needed to prepare for a sustainable job until the age of 100 after retirement, that is, a start-up utilizing wisdom and experience in work life. As a result of the study, the ability to perform the goal as job performance, economic preparation for retirement preparation, preparation for external relations, and future anxiety have a positive effect on the entrepreneurial will, and the ability to use new technologies as job performance, and physical preparation for retirement. Preparation and preparation for internal relations were found to have no effect. In the influencing relationship between preparation for external relations and the will of start-up, and future anxiety and will of start-up, another sense of success was confirmed to have a partial mediation effect. In the relationship between economic preparation and willingness to start a business, the effect of complete mediation was confirmed. In order to increase the will to start a business after retirement, it was confirmed that another sense of expectation for success was an important variable. Introducing a government-sponsored education system in the company to reduce the government's financial burden due to super-aging and achieve corporate growth through employee training while potential founders, office workers, are employed, and entrepreneurship and goals for the three life goals of office workers By introducing a performance improvement program, we were able to get implications that would be a solution to the growth of individuals and businesses and reducing the government's financial burden.

Changes in Leader Role Schemas Over The Past 10 Years: Comparisons by Gender (10년간 리더 역할 도식의 변화: 리더와 응답자의 성별을 중심으로)

  • Ryong, Joung-Soon;Choi, Hoon-Seok
    • Korean Journal of Culture and Social Issue
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    • v.26 no.3
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    • pp.121-143
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    • 2020
  • The present study examined the content and changes in leader role schemas associated with 'male' leaders, 'female' leaders, and 'good' leaders over the past 10 years in Korea. In addition, we analyzed how the gender of the respondents affects their perception of male leaders versus female leaders as a good leader. A total of 736 Korean adults residing in the Seoul metropolitan area participated in the survey at two different time points, one in 2007, and the other in 2017. The respondents were presented with a total of 90 behavior items driven from the literature and asked to choose the items that represent male leaders, female leaders, and good leaders, respectively. We found that the chosen behavior items for male leaders versus female leaders matched closely to the typical sex role of males (i.e., being agentic) versus females (i.e., being communal). By contrast, the chosen behavior items for good leaders reflected both the male-typed roles and the female-typed roles. We also found that the role schemas associated with male leaders as well as good leaders have changed over the 10 year period. Those schemas also differed between male versus female respondents. For female leaders, however, the role schemas were found to be stable over the 10 years. We also found that the good leader schemas are more specified and variable than are the male or the female schemas. Additionally, in the 2007 survey male characteristics overlapped with good leader characteristics to a greater degree than did female characteristics. This difference was no longer observed in the 2017 survey. The observed difference in the degree of overlap between male (versus female) characteristics with good leader characteristics was attributable to the perceptions of male respondents. We discuss implications of our findings and directions for future research.

GMI Microwave Sea Surface Temperature Validation and Environmental Factors in the Seas around Korean Peninsula (한반도 주변해 GMI 마이크로파 해수면온도 검증과 환경적 요인)

  • Kim, Hee-Young;Park, Kyung-Ae;Kwak, Byeong-Dae;Joo, Hui-Tae;Lee, Joon-Soo
    • Journal of the Korean earth science society
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    • v.43 no.5
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    • pp.604-617
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    • 2022
  • Sea surface temperature (SST) is a key variable that can be used to understand ocean-atmosphere phenomena and predict climate change. Satellite microwave remote sensing enables the measurement of SST despite the presence of clouds and precipitation in the sensor path. Therefore, considering the high utilization of microwave SST, it is necessary to continuously verify its accuracy and analyze its error characteristics. In this study, the validation of the microwave global precision measurement (GPM)/GPM microwave imager (GMI) SST around the Northwest Pacific and Korean Peninsula was conducted using surface drifter temperature data for approximately eight years from March 2014 to December 2021. The GMI SST showed a bias of 0.09K and an average root mean square error of 0.97K compared to the actual SST, which was slightly higher than that observed in previous studies. In addition, the error characteristics of the GMI SST were related to environmental factors, such as latitude, distance from the coast, sea wind, and water vapor volume. Errors tended to increase in areas close to coastal areas within 300 km of land and in high-latitude areas. In addition, relatively high errors were found in the range of weak wind speeds (<6 m s-1) during the day and strong wind speeds (>10 m s-1) at night. Atmospheric water vapor contributed to high SST differences in very low ranges of <30 mm and in very high ranges of >60 mm. These errors are consistent with those observed in previous studies, in which GMI data were less accurate at low SST and were estimated to be due to differences in land and ocean radiation, wind-induced changes in sea surface roughness, and absorption of water vapor into the microwave atmosphere. These results suggest that the characteristics of the GMI SST differences should be clarified for more extensive use of microwave satellite SST calculations in the seas around the Korean Peninsula, including a part of the Northwest Pacific.