• KSCE Journal of Civil and Environmental Engineering Research
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• v.37 no.6
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• pp.1025-1032
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• 2017

In this paper, the level of service (LOS) is defined for high-speed railway links and rolling stocks. Based on this LOS, how to manage high-speed railway facility is also suggested. The LOS is divided into 6 levels from A to F. The measurement of effectiveness (MOE) for railway links is derived from the relationship between a total delay time and a railway link utilization ratio. Another MOE, volume over capacity (V/C), is also proposed. On the other hand, the LOS for high-speed railway rolling stocks is based on the density of people in a rolling stock. Above all, LOS D is defined to the total number of seats. Then, LOS A is 50% of the LOS D, LOS B is 70% of the LOS D, LOS C is 90% of the LOS D and LOS D~F is defined as the maximum seats and standing people at the level of each. Finally, a method to manage high-speed railway links and rolling stocks is proposed in order to keep the level of service at the target by the government.

• Journal of the Korea Convergence Society
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• v.6 no.4
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• pp.127-132
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• 2015

This study attempts to empirically investigate if relative momentum strategy is effective in the Korean stock market. The sample of the study is comprised of companies which are traded in both Kospi and Kosdaq stock markets in Korea for the period between 2001~2014. The study observes that the momentum strategy buying past winner stocks and selling past loser stocks is negatively correlated with the value strategy buying value stocks with high book to market ratio and selling glamour stocks with low book to market ratio. And each strategy is alternatively effective from period to period. The study demonstrates that the momentum strategy is effective when both strategies which are negatively correlated are treated as one system by estimating Fama and French's[1] 3 factor regression model.

• Journal of the Korean Operations Research and Management Science Society
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• v.38 no.4
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• pp.35-52
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• 2013

Markowitz's portfolio selection model is used to construct an optimal portfolio which has minimum variance, while satisfying a minimum required expected return. The model uses estimators based on analysis of historical data to estimate the returns, standard deviations, and correlation coefficients of individual stocks being considered for investment. However, due to the inaccuracies involved in estimations, the true optimality of a portfolio constructed using the model is questionable. To investigate the effect of estimation inaccuracy on actual portfolio performance, we study the changes in a portfolio's realized return and standard deviation as the accuracy of the estimations for each stock's return, standard deviation, and correlation coefficient is increased. Furthermore, we empirically analyze the portfolio's performance by comparing it with the performance of active mutual funds that are being traded in the Korean stock market and the KOSPI benchmark index, in terms of portfolio returns, standard deviations of returns, and Sharpe ratios. Our results suggest that, among the three input parameters, the accuracy of the estimated returns of individual stocks has the largest effect on performance, while the accuracy of the estimates of the standard deviation of each stock's returns and the correlation coefficient between different stocks have smaller effects. In addition, it is shown that even a small increase in the accuracy of the estimated return of individual stocks improves the portfolio's performance substantially, suggesting that Markowitz's model can be more effectively applied in real-life investments with just an incremental effort to increase estimation accuracy.

• Journal of the Korean Data and Information Science Society
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• v.22 no.3
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• pp.423-436
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• 2011

Many of the theoretical studies have considered herd behavior as a source of the volatility in financial markets, but there have been few empirical studies on the dynamic herding due to the technical difficulty of detecting herd behavior with time-series data. In this context, this paper proposes a new method for measuring time-varying herd behavior based on QR-GARCH model. Using daily data of KOSPI stocks, this paper provides some empirical evidence for strong and volatile herding among traders of stocks of medium firms, and shows that time-varying herd behavior in traders of some stocks has persistent autocorrelation.

• Korean Journal of Environmental Biology
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• v.17 no.1
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• pp.71-77
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• 1999

Phytoplankton communities were investigated 13 times during the period from November, 1995 to December, 1996 in the coastal area of Kori. A total of 162 taxa (including unidentified species) were observed； 120 diatoms, 3 silicoflagellates, 34 dinoflagellates, 2 euglenoids, 1 chlorophyte and 2 unidentified microflagellates. A diatom species, Skeletonema costatum (Greville) Clove dominated all the year round. The standing stocks of phytoplankton ranged from 94 cells/ml in August to 1059 cells/ml in July. The peaks of standing stocks occurred in February and July. The effects of thermal effluent to the phytoplankton communities changed seasonally and might affect increasing the standing stocks where about 1 ∼ 3 km from the discharge of Kori Nuclear Power Plant in autumn and winter. But the effects of thermal effluent must be negative in summer.

• Journal of the Korean Society of Surveying, Geodesy, Photogrammetry and Cartography
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• v.30 no.3
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• pp.259-268
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• 2012

This paper aims to estimate the carbon dioxide stocks in forests using airborne LiDAR data with a density of approximate 4.4 points per meter square. To achieve this goal, a processing chain consisting of bare earth Digital Terrain Model(DTM) extraction and individual tree top detection has been developed. As results of this experiment, the reliable DTM with type-II errors of 3.32% and tree positions with overall accuracy of 66.26% were extracted in the study area. The total estimated carbon dioxide stocks in the study area using extracted 3-D forests structures well suited with the traditional method by field measurements upto 7.2% error level. This results showed that LiDAR technology is highly valuable for replacing the existing forest resources inventory.

• Journal of Environmental Science International
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• v.29 no.11
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• pp.1125-1139
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• 2020

This study investigated the distributional pattern of meiobenthos associated with future deep-sea mining in the Korea Deep Ocean Study area present in the Clarion-Clipperton Fracture Zone (CCFZ) located in the southeastern part of the North Pacific Ocean. Standing stocks of meiobenthos were investigated in benthic impact experiment sites (BIS) and Korea Institute of Ocean Science & Technology long-term monitoring (KOMO) sites during the 2008-2014 annual field survey. A total of 14 taxa of meiobenthos were identified. Nematodes were the most abundant taxon (60-86%). Harpacticoid copepods (5-26%) and benthic foraminifera (1-12%) were also dominant at all sites. The total meiobenthic densities varied from 4 to 150 ind./10 cm2. The mean value of total meiobenthic abundance was higher at BIS than at KOMO sites, but there was no significant difference between the two sites. The mean values of the number of taxa and biomass at BIS and KOMO sites were similar. The mean abundance of nematodes that were the most dominant taxa was also higher at BIS than at KOMO sites. The standing stocks in our study sites were relatively lower than those previously reported at other CCFZ sites. These results seem to reflect a low organic concentration in the study area.

• Journal of Forest and Environmental Science
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• v.35 no.3
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• pp.205-211
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• 2019

The objective of this research was to assess the amount of carbon stock of coarse woody debris (CWD) in Bombo-Lumene Reserve. Data on lying CWD was collected on 35 circular sampling plots using Line Intersect Sampling (LIS) method. A total of 230 samples CWD (${\geq}10cm$ diameter) were inventoried. The mean carbon stocks of CWD was $29.48Mg\;C\;ha^{-1}$, ranging from 4.32 to $73.54Mg\;C\;ha^{-1}$. The CWD carbon stocks displayed a wide range of variation in decay states. The allocation of CWD among the decay class of all the CWD samples reveals that the most important classes were class 1 and class 3 with 323.66 and $321.96Mg\;C\;ha^{-1}$, followed by class 4 with 264.56 and the last one was class 2 with $121.72Mg\;C\;ha^{-1}$. The results suggested that the dead wood component is important in carbon sequestration and should be taken into consideration for quantification of carbon stocks not only in Bombo-Lumene Reserve, but in all forest ecosystems in the Democratic Republic of Congo.

• Asia-Pacific Journal of Business
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• v.11 no.4
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• pp.317-332
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• 2020

Purpose - This study examines the information effect and trading behavior of investors for the 430 stock split data from January 2004 to June 2018 in the Korean stock market. Design/methodology/approach - The stock split samples are classified into two groups by split ratio as well as three groups by price level prior to split. We also investigate the trading behavior of investors categorized by institutional versus individual investors. Findings - First, we find a significantly positive information effect on the announcement day. In particular, the information effect is more distinct in the group of larger split ratio and higher price level of stocks. Second, we find a huge increase in turnover following the stock splits, which mainly results from the trading by individual investors. Also, the increase in turnover by individual investors is evident in the group of larger split ratio and higher price level of stocks. Third, the stock splits have a negative impact on the long-term stock performance. The negative buy-and-hold abnormal return(BHAR) makes no difference in the groups by split ratio as well as price level of stocks. Lastly, we find individual investors tend to buy splitted stocks, which exhibit the long-term under-performance. Research implications or Originality - The results in this paper suggest that the liquidity hypothesis is not supported in the Korean stock splits. In addition, we observe that individual investors are exposed to losses due to their unfavorable trading behavior following the stock split.

• Forest Science and Technology
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• v.14 no.4
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• pp.181-191
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• 2018

This study was carried out in the teaching and research forest of the University of Dschang in Belabo, with the aim of analysing land-cover and land-use changes as well as carbon stocks dynamic. The databases used are composed of three Landsat satellite images (5TM of 1984, 7ETM + of 2000 and 8OLI of 2016), enhanced by field missions. Satellite images were processed using ENVI and ArcGIS software. Interview, focus group discussion methods and participatory mapping were used to identify the activities carried out by the local population. An inventory design consisting of four transects was used to measure dendrometric parameters and to identify land-use types. An estimation of carbon stocks in aboveground and underground woody biomass was made using allometric models based on non-destructive method. Dynamic of land-cover showed that the average annual rate of deforestation is 0.48%. The main activities at the base of this change are agriculture, house built-up and logging. Seven types of land-use were identified; adult secondary forests (64.10%), young secondary forests (7.54%), wetlands (7.39%), fallows (3.63%), savannahs (9.59%), cocoa farms (4.28%) and mixed crop farms (3.47%). Adult secondary forests had the highest amount of carbon ($250.75\;t\;C\;ha^{-1}$). This value has decreased by more than 60% for mixed crop farms ($94.67\;t\;C\;ha^{-1}$), showing the impact of agricultural activities on both forest cover and carbon stocks. Agroforestry systems that allow conservation and introduction of woody species should be encouraged as part of a participatory management strategy of this forest.