• Korean Journal of Construction Engineering and Management
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• v.7 no.1 s.29
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• pp.159-167
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• 2006

Better utilization of the knowledge of employees in any organization has long been accepted as a vital component of a corporation's competitiveness. This has been considered even more important in the construction industry due to the dynamic and intermittent nature of construction projects. With the rapid advance of network technologies during the last decade, construction companies quickly shifted their focus of knowledge management to interactive online repositories. However, the efforts of leveraging organizational knowledge has remained fragmented in the construction industry until recent years. In addition, companies have begun to realize that actual returns on this investment in network technologies would be far less than initial expectations if online efforts do not incorporate companies' general offline knowledge management efforts, which are done without the use of computer network. Thus, this paper focused on assessment of implementing current Lessons-Learned Systems at the large construction companies in Korea to provide the foundation for developing a renovated conceptual Lessons-Learned System model.

• Proceedings of the Korean Vacuum Society Conference
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• 2011.08a
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• pp.70-70
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• 2011

The prospects of current and coming solar-photovoltaic (PV) technologies are envisioned, arguing this solar-electricity source is beyond a tipping point in the complex worldwide energy outlook. Truly, a revolution in both the technological advancements of solar PV and the deployment of this energy technology is underway; PV is no longer an outlier. The birth of modern photovoltaics (PV) traces only to the mid-1950s, with the Bell Telephone Laboratories' development of an efficient, single-crystal Si solar cell. Since then, Si has dominated the technology and the markets, from space through terrestrial applications. Recently, some significant shift toward technology diversity have taken place. Some focus of this presentation will be directed toward PV R&D and technology advances, with indications of the limitations and relative strengths of crystalline (Si and GaAs) and thin-film (a-Si:H, Si, Cu(In,Ga)(Se,S)2, CdTe). Recent advances, contributions, industry growth, and technological pathways for transformational now and near-term technologies (Si and primarily thin films) and status and forecasts for next-generation PV (nanotechnologies and non-conventional and "new-physics" approaches) are evaluated. The need for R&D accelerating the now and imminent (evolutionary) technologies balanced with work in mid-term (disruptive) approaches is highlighted. Moreover, technology progress and ownership for next generation solar PV mandates a balanced investment in research on longer-term (the revolution needs revolutionary approaches to sustain itself) technologies (quantum dots, multi-multijunctions, intermediate-band concepts, nanotubes, bio-inspired, thermophotonics, ${\ldots}$ and solar hydrogen) having high-risk, but extremely high performance and cost returns for our next generations of energy consumers. This presentation provides insights to the reasons for PV technology emergence, how these technologies have to be developed (an appreciation of the history of solar PV)-and where we can expect to be by this mid-21st century.

• Journal of Digital Convergence
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• v.20 no.4
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• pp.119-126
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• 2022

With the rise and rapid development of the "Internet+" economic model, the internet is deeply integrated with the social economy and penetrates every corner of life. Compared with expanding the scale of business operations through internal investment and capital accumulation, e-commerce companies are more inclined to directly gain control of other companies through efficient merger and acquisition (M&A). The purpose of this study is to analyze changes in financial performance before and after M&A of Alibaba, China's largest e-commerce company in the Internet era. To present the impact of M&A events on Alibaba's stock price and shareholder wealth more intuitively, this study selected the market model in the event study method to measure abnormal returns. The results show that an M&A event led to a reduction in Alibaba's shareholder wealth in the short term. This study presents the theoretical basis for the M&A performance of e-commerce companies.

• Journal of the Korean Data and Information Science Society
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• v.28 no.4
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• pp.819-829
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• 2017

The aim of this study is to analyze intraday price momentum. When price trends are formed, price momentum is the phenomenon that future prices tend to follow the trend. When the market opened and closed, a U-shaped trading volume pattern in which the trading volume was concentrated was observed. In this paper, we defined price momentum as the 10 minute trend after market opening is maintained until the end of market. The strategy is to determine buying and selling in accordance with the price change in the initial 10 minutes and liquidating at closing price. In this study, the strategy was empirically analyzed by using minute data, and it showed effectiveness, indicating the presence of an intraday price momentum. A pattern in which returns are increasing at an early stage is called a J-shaped pattern. If the J-shaped pattern occurs, we have found that the price momentum phenomenon tends to be stronger than otherwise. The DTW algorithm, which is well known in the field of pattern recognition, was used for J-shaped pattern recognition and the algorithm was effective in predicting intraday price movements. This study showed that intraday price momentum exists in the KOSPI200 futures market.

• International Area Studies Review
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• v.15 no.3
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• pp.369-392
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• 2011

A pure project finance is exposed to high default risk because it is made solely based on the business value of the project. Project finance with sinking funds can reduce the high default risk, in that it uses sinking funds to ensure the principal without requiring collaterals or guarantees. In view of economic efficiency, this paper analytically compares project finance with sinking funds to usual project finance and derives the condition for its superiority in corporate tax saving. Because sinking funds generate the repayments for the principal with compounding interest rates, in terms of effectiveness, project finance with sinking funds is suitable for long-term projects whose period is longer than 10 years. Pension funds can be good sources for project finance with sinking funds, since they should be managed to ensure stable investment returns for long periods.

• Journal of Digital Convergence
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• v.19 no.8
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• pp.161-171
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• 2021

According to the equity home bias theory, foreign investors are considered to have less information than native investors. However, as the economy becomes liberalized and overseas economic innovation has a great influence on the local economy, it is possible for foreign investors to invest as informed traders. This study analyzes whether information on trade amount by nationality has specific characteristics. The findings are summarized as follows. First, the increase in trading by foreign investors has negative effects on stock returns. There is no significant difference in these negative effects by nationality. This means that foreign investors show strong herd behavior regardless of nationality. Second, foreigners' investment activities increase stock price volatility, but the impact is not significant. Third, the behavior of foreign investors is still positive feedback. However, there are signs that positive feedback behavior may be changing, especially for funds from the United States and the Cayman Islands. Finally, tax haven zone funds have different investment strategies than other foreign investors. However, Cayman Islands funds, which are estimated to be closely related to Korea, are different from Luxembourg and Ireland funds. These findings undermine the fundamentals of the equity home bias theory.

• The Journal of Fisheries Business Administration
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• v.46 no.1
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• pp.1-13
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• 2015

This study is aimed comparative analysis for business performance of land-based ezo abalone (Haliotis discus hannai) seed farms by standardizing cost structures by region and farming size. The result of survey on average farming incomes by region showed that farming incomes in Haenam and Jindo regions were much higher than those in other regions. Followed by Wando region, incomes in other regions were analyzed to be relatively lower. It is shown that farming incomes became higher as farm size increased. Farming incomes per unit size which were modified from farming incomes by region were highest in Jindo region, followed by East sea region, Wando and Haenam regions. Incomes in Jeju and Yeosu regions were analyzed to be relatively lower. Results on farming incomes per unit size ($m^2$) showed that both farming incomes and profits became higher as size increased. It implies that a scale effectiveness might exist in case of land-based abalone culture system. Impacts of major factors on farming profits and returns on investment in abalone seed aquaculture are summarized as follow. First, only if the survival rate increased by 10% with improvement of component ratio, variable effects became largest. In variable effects of other factors, a variation in Jindo region was largest and on the other hand, a variation in Yeosu region was shown to be smallest.

• Asia-Pacific Journal of Business
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• v.13 no.3
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• pp.183-208
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• 2022

Purpose - The main purpose of this study is to widely investigate the impact of recent pandemic crises on the synchronization of the world capital markets through 25 stock indices from major developed countries. Design/methodology/approach - This study collects 25 stock indices from major developed countries and the time period is between January 5, 2001 and February 24, 2022. The data sets used in the study include finance.yahoo.com and Investing.com.. The Granger causality analysis, unit-root test, VAR analysis, and forecasting error variance decomposition were hired in order to analyze the data. Findings - First, there are significant inter-relations among 25 countries around recent major pandemic crises(such as SARS, A(H1N1), MERS, and COVID19), which is consistent result with previous literature. Second, COVID19 shows much stronger impact on the world-wide synchronization than other pandemics. Third, the return volatility of each stock market varies, unit root tests show that daily stock index data are unstable while daily stock index returns are stable, and VAR(Vector Auto Regression) analyses presents significant inter-relations among 25 capital markets. Fourth, from the impulse response function analyses, we find that each market affects the other markets for short term periods, about 2~4 days, and no long term effect was not found. Fifth, Granger causality tests show one-side or two-sides synchronization between capital markets and we estimate, through forecasting error variance decomposition method, that the explanatory portions of each capital market on other markets vary from 10 to 80%. Research implications or Originality - The above results all together show that pandemic crises have strong effects on the synchronization of world capital markets and imply that these synchronizations should be carefully considered both in the investment decisions by individual investors and in the financial and economic policies by governments.

• The Journal of the Korea Contents Association
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• v.22 no.8
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• pp.329-338
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• 2022

As the non-face-to-face economic situation developed due to the COVID-19 pandemic, untact stock groups appeared in the stock market. This study proposed the Korea COVID-19 fear index following the spread of infectious diseases in the COVID-19 pandemic situation and analyzed the influence on the untact stock and contact stock returns. The results of the empirical analysis are as follows. First, as a result of the Granger causality analysis using the Korea COVID-19 fear index, significant causality was found in the return of contact stocks such as Korean Air, Hana Tour, CJ CGV, and Paradise. Second, as a result of stock price prediction based on the LSTM model, Kakao, Korean Air, and Naver's prediction performance was high. Third, the investment performances of the Alexander filter entry rule using the predicted stock price were high in Naver futures and Kakao futures. This study can find a difference from previous studies in that it analyzed the influence of the spread of the COVID-19 pandemic on untact and contact stocks in the COVID-19 situation where the non-face-to-face economy is in full swing.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.4 no.4
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• pp.45-70
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• 2009

This article investigates which types of the strategies announced by the listed firms contribute to enhancing the long-term performance of the companies. Since 2002, Korean Exchange adopted the "faire disclosure policy" which mandates that all publicly traded companies must disclose material information to all investors at the same time. Thanks to the policy, Korean investors can, now, easily access the board's decision on management strategies on the same day the decision is made. If the companies trustfully carry out their announced strategies, we can decide which types of strategies actually enhance or deteriorate the long-term performance, simply by comparing the announced strategies and the firm's performance. The sample companies are confined to 60 firms that became listed in the KOSDAQ market through back-door listing from 2003 to 2005. Using only the newly listed companies, we can avoid the interference on the long-term performance of the strategies pursued before the event date. This often holds true, for many companies radically modify their strategies after the listing. Furthermore, the back-door listing companies serve our purpose better than IPO companies do, because the former tend to have a variety of announcement within a given period of time beginning the listing date. Using these sample companies, this article analyzes the effect on one year buy-and-hold returns and abnormal buy-and-hold returns after the listing of the various types of strategies announced during the same period of time. The results show that those evidences of restructuring such as 'reduction of capital' and 'resignation of incumbent board members', actually contribute to the increase in adjusted long-term stock returns. Those strategies which can be view as evidence of new investment such as 'increase in tangible assets', 'acquisition of other companies', do also helps the stockholders better off. On the contrary, 'increase in bank loans', 'changes of CEO' and 'merger' deteriorate the equity value. The last findings let us to presume that the back-door listing companies appear to use the bank loans for value-reducing activities; the change in CEO is not a sign of restructuring, but rather a sign of failure of the restructuring; another merger carried out after back-door listing itself is also value-reducing activity. This article's findings on reduction of capital, merger and bank loans oppose the results of the former empirical studies which analyze only the short-term effect on stock price. Therefore, more long-term performance studies on public disclosures are in order.