• The Journal of Fisheries Business Administration
• /
• v.34 no.1
• /
• pp.137-156
• /
• 2003

Increasingly, leisure time is being used for outdoor recreational activities, and fishing is one of the principal forms of marine recreation. Marine recreational fishing is a popular activity in Korea and this activity has led to the development of a sector of substantial social and economic value. Also it is considered as one of the important outdoor leisure industries in Korea. With rising of income level and development of marine outdoor leisure industries, social, economic demand increase of marine recreational fishing are showing us new advance ability of marine aquatic bio-industry. However the recreational use of fish stocks has become an important consideration in the public and environmental economic analysis of management aspect of fishing, having grown considerably over recent years to reach a level in Korea where the fish stocks and coastal ecosystem has become a significant management problem. we are inevitably facing marine environmental deterioration and overfishing in marine recreational fishing. In this study, not only resources and environmental problems which are occurred by recreational fishers, but also illegal fishing behaviors and other problems such as market's failure are going to analyze basic management theories and methods of recreational fishing through mathematical principals and economic rents which maximize net social benefits. In view of the likelihood of marine recreational fishers adopting high rates of discount, the conservation of fish resources would appear to require continual public surveillance and control of the physical yield and condition of the fish stocks and the optimal use level. The institutional management of recreational fisheries is the way of escaping the collapse of recreational fisheries just like as the situation of management's failure of commercial fisheries worldwide. One of the effective management measure is a license system. In this system, optimal fee is paid by recreational fishers, which prevent them from overfishing, environmental problems to some extents and carry out the optimal number of outings. And money obtained by license fee should be spent for more improvement fishing culture and welfare for marine recreational fishing. Marine recreational fishing is to be promoted under sound conservation and management principles.

• Korean Business Review
• /
• v.17 no.2
• /
• pp.25-39
• /
• 2004

This paper examines the effect of the amendment of the valuation method for unlisted stocks in the inheritance tax law. There were many criticisms on the valuation method of the inheritance tax law because the method is not effective in the respect of the fairness in taxation. The method in the inheritance tax law was amended four times since the year 1991. This research focused on whether these amendments increased the impartiality in taxation or not. The finding of the empirical test indicates that as the valuation method were amended, the stock prices calculated by the valuation method were closer to the real stock price. On this ground, I could conclude that the amendments were effective in decreasing the partiality in taxation. In spite of the result, considering the cycle of stock market, I found that the problem of unlisted stock valuation in the inheritance tax law. The law lacks flexibility and elasticity.

• Journal of Industrial Convergence
• /
• v.18 no.5
• /
• pp.1-13
• /
• 2020

The purpose of this study is to find out how much the investment effect of convertible bond(CB) is from the perspective of investors and to present efficient investment plans to investors. The research method is to investigate the coupon interest rate, maturity interest rate, conversion price, etc. for CBs. As a result of the study, it was analyzed that CB's investment efficiency was low because the conversion price excess days ratio was only about 1/4 of the conversion date. The conversion day yield was -6.3% and the maturity day yield was -5.2% on average. It was analyzed that the number of stocks with negative conversion day yield was 2.4 times higher than the number of positive stocks and 3.7 times higher than the number of positive stocks with a maturity day yield, so the expected return on equity conversion of CB was low.

• Journal of Fisheries and Marine Sciences Education
• /
• v.19 no.1
• /
• pp.53-73
• /
• 2007

There exists historically intimate relationship between the fisheries of the three countries of Northeast Asia in terms of the same fishing ground and similar resources. This means that if one of the countries fail to manage their fisheries properly, it will harm the others. Especially, if the EEZ straddling and Trans-Boundary Fish Stocks aren't managed by the cooperation of the three countries, the exhaustion of resources will be more likely to be accelerated. Considering the aspects mentioned, this paper refers to the necessity of fisheries cooperation between Korea, China, and Japan. Next, it analyzed the joint control cases of Norway/Russia Management of Shared Fish Stocks in the Barents Sea, Management of South Tasman Rise in Orange roughy, Agreement on Fisheries between the European Economic Community and the Kingdom of Norway, Conservation and management of pollack resources in the central Bering Sea, and drew a conclusion for ourselves. Last of all, it suggests a step-by-step strategy of promoting joint control between three countries, and the plan of the establishing and managing the organization of joint fisheries control. About the joint control, "The Joint Statement of promoting collaboration between Korea, China, and Japan" has been announced at ASEAN in October 7th, 2003 and the summit talk of the three countries. In the joint statement, the three countries came to an agreement which says, "Cooperation in Fishery Resource Conservation : The three countries will cooperate, bilaterally or trilaterally, to promote the sustainable use and conservation of fishery resource through the effective fishery management". Not only the consistent collaboration between the government is necessary, but also continuous exchange and related study on a Non-governmental level is also needed for the viable outcome in the near future. When deducting the result for the joint fisheries control, this writer hopes the contents of this study will be helpful.

• Journal of the Korea Society of Computer and Information
• /
• v.8 no.3
• /
• pp.113-123
• /
• 2003

Many researches on the application of neural networks for making financial index prediction have proven their advantages over statistical and other methods. In this paper, a neural network model is proposed for the Buying, Holding or Selling timing prediction in stocks by the price index of stocks by inputting the closing price and volume of dealing in stocks and the technical indexes(MACD, Psychological Line). This model has an equalized multi-layer arithmetic function as well as the time series prediction function of backpropagation neural network algorithm. In the case that the numbers of learning data are unbalanced among the three categories (Buying, Holding or Selling), the neural network with conventional method has the problem that it tries to improve only the prediction accuracy of the most dominant category. Therefore, this paper, after describing the structure, working and learning algorithm of the neural network, shows the equalized multi-layer arithmetic method controlling the numbers of learning data by using information about the importance of each category for improving prediction accuracy of other category. Experimental results show that the financial index prediction using the equalized multi-layer arithmetic neural network has much higher correctness rate than the other conventional models.

• Journal of Life Science
• /
• v.17 no.6 s.86
• /
• pp.762-765
• /
• 2007

A Giemsa C-banding method was used for the identification of somatic chromosomes and heterochromatic knob position in Korean indigenous waxy com (Zea mays L.). 5 inbred stocks were examined and their heterochromatic knob numbers ranged from 6 to 12. In comparison of homologous chromosomes of two stocks of YS-1 and MY-1, knob numbers, knob positions, arm ratios and relative length of chromosomes were different between the genotypes. The length of homologous chromosomes in YS-1 were generally larger than those of MY-1. The Giemsa method was proved to be useful for the identification of somatic chromosome and a C-banded diagram showing knob positions, arm ratios and relative length of chromosome could be used as a good tool to compare the characteristics of chromosomes of Korean indigenous waxy corn stocks.

• Journal of Climate Change Research
• /
• v.7 no.4
• /
• pp.499-506
• /
• 2016

This study was conducted to estimate carbon stock and uptake for Larix kaempferi Lamb., the single species, which is the most widely distributed one following Pinus densiflora, using data from 6th national forest inventory and forest type map of 1:5,000. Overall distribution area of Larix kaempferi in South Korea was shown as 272,800ha, in detail, Gangwon-do was the most widely distributed region with 39.6% (108,141 ha) of the whole forest area, and Gyeongsangbuk-do was 18.6%(50,839 ha), Chungcheongbuk-do was 15.1%(41,205ha) in order. As the results of analysis in carbon stock and uptake for each province, the values were high with Gyeonggi-do 109.0 tC/ha, $10.3tCO_2/ha/yr$, Gangwon-do 349.1 tC/ha, $9.7tCO_2/ha/yr$ in order, and Jeollabuk-do was the lowest with 78.3 tC/ha, $7.6tCO_2/ha/yr$. Also, the results of estimation in total carbon stocks and uptakes by year (1989~2015) were turned out that total carbon stocks and uptakes were 24,891 thousand tC, $2,428thousand\;tCO_2$ in 2015, increasing about 4.8 times and 3.8 times each compared with 5,238 thousand C/ha, $640thousand\;CO_2$ in 1989. Although forest area was decreased 26.6% with 371,884 ha in 1989 to 272,800 ha in 2015, carbon stocks and uptakes were increased in 2015 in that forest stock was increased 126% compared to 1989.

• The Journal of Fisheries Business Administration
• /
• v.49 no.3
• /
• pp.49-65
• /
• 2018

The main purpose of this study is to explain fishery relation in the seas surrounding Korea and how the Prisoner's Dilemma (PD), within game theory is applied to the region and suggest possible co-operative approaches in the region. The seas surrounding Korea are very productive fishing grounds with abundant fisheries resources because of the favourable marine environment, including its geographical features and physical oceanography. Nevertheless, Fishery relations among the coastal states in the region have been historically characterized by conflict rather than co-operation. Based on the PD game where there is always an incentive to do better by not co-operating, in order to ensure a share of the short-run benefits, fishing countries in the region have so far pursued the non-co-operative strategy of 'don't fish responsibly' rather than the co-operative strategy of 'fish responsibly'. Considering rapidly deteriorating situations in terms of fishery resources, regional co-operation among coastal states is urgently required to eliminate overfishing and increase fish stocks to sustainable levels. The West Sea/East China Sea and the East Sea, semi-enclosed seas, have unitary ecosystems, and many migratory fish species are shared between coastal states. Therefore, one countries' efforts alone cannot effectively manage and conserve the fishery resources and close co-operation among coastal states is required. The 1982 UN Convention and other international instruments emphasize the role of RFOs in managing and conserving capture fisheries and encourage states to establish Regional Fishery organizations (RFOs) or strengthen existing RFOs to facilitate conservation and management for fish stocks. Therefore, an international regime is worthy of serious consideration in that it provides fundamental advantages for the conservation of fish stocks for the fishery characteristic of the region.

• Journal of Convergence for Information Technology
• /
• v.11 no.1
• /
• pp.28-33
• /
• 2021

Since the stock price is a measure of the future value of the company, when analyzing the stock price, the company's growth potential, such as sales and profits, is considered and invested in stocks. In order to set the criteria for selecting stocks, institutional investors look at current industry trends and macroeconomic indicators, first select relevant fields that can grow, then select related companies, analyze them, set a target price, then buy, and sell when the target price is reached. Stock trading is carried out in the same way. However, general individual investors do not have any knowledge of investment, and invest in items recommended by experts or acquaintances without analysis of financial statements or growth potential of the company, which is lower in terms of return than institutional investors and foreign investors. Therefore, in this study, we propose a research method to select undervalued stocks by analyzing ROE, an indicator that considers the growth potential of a company, such as sales and profits, and predict the stock price flow of the selected stock through deep learning algorithms. This study is conducted to help with investment.

• Asia-Pacific Journal of Business
• /
• v.11 no.2
• /
• pp.173-188
• /
• 2020

Purpose - This study examines the determinants of offer price and short-term and long-term performance of small and medium-sized enterprise(SME) IPO stocks listed on the KOSDAQ during the period from July 2007 to December 2016. Design/methodology/approach - The SME IPO samples are classified into three categories of regular listing, technology-based special listing, and listing by merger with special purpose acquisition company(SPAC), whose results are compared each other and compared to the result for the KOSDAQ listing of large firms. Findings - From the point of SME management which attempts to list its company on the KOSDAQ, the listing by merger with SPAC is the most unfavorable, and the underpricing phenomenon of the technology-based special listing is severe in the second place. By contrast, IPO stock investors can earn the largest abnormal return by purchasing the SPAC which succeeds the merger with unlisted firm, and the next abnormal returns are obtained in the order of the IPO stocks of technology-based special listing, regular listing of SMEs, and regular listing of large firms. However, it is interesting to observe that the net buying ratio of individual investors is relatively large for the IPO stocks of regular listing of SMEs and large firms, which exhibit the long-term under-performance. Research implications or Originality - This result implies that the exceptional listing system such as the technology-based special listing or the listing by merger with SPAC cost the SMEs which bypass the complicated procedure of the regular listing.