• Microbiology and Biotechnology Letters
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• v.37 no.4
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• pp.293-305
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• 2009

Methane, as a greenhouse gas, is some 21~25 times more detrimental to the environmental than carbon dioxide. Landfills generally constitute the most important anthropogenic source, and methane emission from landfill was estimated as 35~73 Tg per year. Biological approaches using biocover (open system) and biofilter (closed system) can be a promising solution for older and/or smaller landfills where the methane production is too low for energy recovery or flaring and installation of a gas extraction system is inefficient. Methanotrophic bacteria, utilizing methane as a sole carbon and energy source, are responsible for the aerobic degradation (oxidation) of methane in the biological systems. Many bench-scale studies have demonstrated a high oxidation capacity in diverse filter bed materials such as soil, compost, earthworm cast and etc. Compost had been most often employed in the biological systems, and the methane oxidation rates in compost biocovers/boifilters ranged from 50 to $700\;g-CH_4\;m^{-2}\;d^{-1}$. Some preliminary field trials have showed the suitability of biocovers/biofilters for practical application and their satisfactory performance in mitigation methane emissions. Since the reduction of landfill methane emissions has been linked to carbon credits and trading schemes, the verified quantification of mitigated emissions through biocovers/biofilters is very important. Therefore, the assessment of in situ biocovers/biofilters performance should be standardized, and the reliable quantification methods of methane reduction is necessary.

• Journal of KIISE:Computer Systems and Theory
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• v.33 no.10
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• pp.746-758
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• 2006

Many objects existing on wide area environments have the replication characteristics according to how to categorize using their own names or properties. From the clients' requests, the existing naming and trading services have not supported with the binding service for replicated solver object with the same service type. For this reason, we present an integrated model that can support the selection of replicated object and dynamic binding services on wide-area computing environments. This model suggests provides not only location management of replicated objects but also active binding service which enables to select a least-loaded object on the system to keep the balance of load between systems. In this purpose, constructing both the service plan and model for support solver object's binding with replication property on wide area computing environments has been researched. In this paper, we showed the test environment and analyzed the performance evaluation of client/server binding procedures via integrated binding service in federation model and verified our model under the condition to see whether load balance can be applied to our model. For the performance evaluation of suggested wide area integrated binding service federation model, evaluated the integrated binding service of each domain and analyzed the performance evaluation of process for non-replication object's under federation model environment. Also, we analyzed the performance evaluation of the federation model between domains for wide area environment. From the execution results, we showed the federation model provides lowers search-cost on the physical tree structure of network.

• Management & Information Systems Review
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• v.35 no.3
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• pp.195-212
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• 2016

Utilizing intra-day volume weighted average price (VWAP) based on 1 minute return data of stocks traded on the Korean Stock Exchange, this paper examines and analyzes abnormal returns in reaction to patent listing disclosures as well as the cumulative abnormal returns, traded volumes, the interaction of VWAP spreads, the reaction of volumes, the reaction of VWAP spreads and the realized returns obtained from trading using an event driven arbitrage strategy. The results of the aforementioned research topics are follows. First, our analysis suggests that on average, 0.92% positive cumulative returns arise 1 minute after the patent listing disclosure announcement with high statistical significance, thereby reconfirming that the Korean stock market is a semi-strong form of the efficient market. Employing 3 separate panel tests differentiated by the size factor, we find that the abnormal returns of small sized stocks were less than the returns of medium sized stocks, which goes to support recent research findings suggesting that the size premium is no longer existent in the Korean stock market. Secondly, we show that among the event driven type strategies, the most outstanding realized returns are from the market making strategies. Furthermore, placing market order trades only at the bid or ask price resulted in negative returns. This implies that strategies utilizing a combination of market orders and limit orders, order cancelations ratios and order flows can enhance realized returns.

• Management & Information Systems Review
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• v.37 no.2
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• pp.87-108
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• 2018

This article explores the international trade flow of Bangladesh's ready-made garments (RMG). We first suggest the brief history and an international structure of trade among countries by using the trade volume. Then we implemented a gravity model regression with the sample of 38 major partner countries in order to investigate the potential export market for the RMG industry. The fixed effect and random effect model for the panel data during the period of 1990 to 2011 are estimated. Our result shows that Bangladesh's RMG exports are affected positively by the size of economy, inflation, exchange rate, foreign direct investment(FDI) and trade openness. On the other hand, the distance between trading partners are related negatively with the trade volume. We used the estimated coefficients from the panel regression in order to predict RMG export potential of Bangladesh. This might show which country is the promising export market for Bangladesh RMG industry. We found that Bangladesh has the highest potential of RMG export with Japan and USA, which seem to have considerable room for export growth if trade barriers and constraints are removed. We added some policy implications for encouraging the RMG export of Bangladesh by using the results from the analysis.

• The Journal of the Institute of Internet, Broadcasting and Communication
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• v.11 no.5
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• pp.113-130
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• 2011

Due to the development of information and communication technology, the global influence on politics, economics, society, and culture has grown. A major example of this impact on the economic sector is the growth of e-commerce, which increases both the speed and efficiency of businesses. In light of these new developments, businesses need to shift away from the misconception that information overwhelms to embrace the enhanced competitiveness that e-commerce provides. However, concern about fraudulent transactions through e-commerce is pertinent because of the loss in both critical revenue and consumer confidence in open markets. Current solutions for fraudulent transactions include real-time monitoring and processing, payment pending, and confirmation through SMS, E-mail, and other wired means. Our research focuses on the management of Fraud Detection Systems (FDS) to safeguard online electronic payment systems. With effective implementation of our research we hope to foster an honorable online trading culture and protect consumers. Future comparative research in domestic and abroad markets would provide further insight into preventing fraudulent transactions.

• Management & Information Systems Review
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• v.32 no.4
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• pp.189-207
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• 2013

Using high-frequency data for 2 years, this study investigates intraday lead-lag relationship between stock index and stock index futures markets in Korea and China. We found that there are some differences in price discovery and volatility transmission between Korea and China after the stock index futures markets was introduced. Following Stoll-Whaley(1990) and Chan(1992), the multiple regression is estimated to examine the lead-lag patterns between the two markets by Newey-West's(1987) heteroskedasticity and autocorrelation consistent covariance matrix(HAC matrix). Empirical results of KOSPI 200 shows that the futures market leads the cash market and weak evidence that the cash market leads the futures market. New market information disseminates in the futures market before the stock market with index arbitrageurs then stepping in quickly to bring the cost-of-carry relation back into alignment. The regression tests for the conditional volatility which is estimated using EGARCH model do not show that there is a clear pattern of the futures market leading the stock market in terms of the volatility even though controlling nonsynchronous trading effects. This implies that information in price innovations that originate in the futures market is transmitted to the volatility of the cash market. Empirical results of CSI 300 shows that the cash market is found to play a more dominant role in the price discovery process after the Chinese index started a sharp decline immediately after the stock index futures were introduced. The new stock index futures markets does not function well in its price discovery performance at its infancy stage, apparently due to high barriers to entry into this emerging futures markets. Based on EGAECH model, the results uncover strong bi-directional dependence in the intraday volatility of both markets.

• Journal of the Korean Institute of Intelligent Systems
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• v.24 no.1
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• pp.16-21
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• 2014

In recent, the maritime traffic has increased with an increase in international trading volumes and the growing popularity of marine leisure activities. As increasing of maritime traffic, marine accidents happened continually and there are possibilities of accidents at sea. According to the analysis of marine accidents, most accidents occurred by human error of seafarers. To reduce the accidents by human error, the various assistance system for assist seafarers have been proposed. It is required to real-time data management method for applying to real-time system, but most proposed assistance system used off-line data for analysis. In this paper, we aim to build a navigation supporting system for providing safety information to deck officer with data of AIS(Automatic Identification System) and ARPA Radar(Automatic Radar Plotting Aids Radar), and proposed a management algorithm for real-time ship information with blackboard system and verified the validity.

• Management & Information Systems Review
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• v.39 no.3
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• pp.83-98
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• 2020

This study analyzes how investors' irrational behavior (or pessimistic sentiment) affects stock market returns and investors' market activity using mass media that delivered public information from January 1998 to December 2012 as a sample. According to pessimistic investor theory, investor pessimism leads to downward pressure on the price of equity capital, thereby making market sentiment pessimistic and lowering market yields. It also shows that investor pessimism increases transaction costs in the market, which in turn dampens investors' trading activities. In other words, pessimistic reporting on public information disseminated by mass media induces investors to act irrationally, eventually having a direct impact on the stock market. This study conducted an empirical analysis of the existing theoretical and empirical studies using domestic mass media as a sample. First, the study revealed a negative correlation between pessimistic reporting and returns as well as excess returns, while it did not show statistically significant results. Second, evidence has been suggested that pessimistic sentiment in the stock market has a negative impact on future pessimistic reporting by mass media. Third, the analysis of the impact of pessimistic reporting on investors' market activity using proxy variables for various market activities found that pessimism dampens market activity, while it did not show statistically significant results. It is assumed that low statistical significance is due to the fact that sample collection was carried out on a monthly basis. While the results of the study have low statistical significance, statistical signs support predictions of the theory.

• Management & Information Systems Review
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• v.35 no.1
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• pp.273-286
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• 2016

This study investigated the information contents of KOSPI200 Options for intraday big market movement by using minute by minute data. The major findings are summarized as follows; First, big market movement occurred more frequently during 9:00~10:00 and 14:00~14:50. These phenomena reflect market unstability just after opening and near closing. Second, VKSOPI is most closely associated with extreme changes such as KOSPI200 jumps. Third, VKOSPI is showed more predictive power with negative KOSPI200 jumps than KOSPI200 jumps. Fourth, VKOSPI showed predictive power for the positive and negative jumps up to 30 minutes before the jumps occurs. The purpose of this study is to explore the most recent topics in the field of finance, research on market microstructure. This study is an important contribution to investigate intraday information comprehensively in terms of market microstructure effects using the 15-year long-term and the high-frequency data(minute by minute). The results of this study are expected to contribute to detect intraday true jumps, proactive development of market risk indicators, risk management, derivatives investment strategy.

• Management & Information Systems Review
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• v.31 no.4
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• pp.593-609
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• 2012

This study is designed to investigate whether the information spillover effect is existed between the foreign investors' unexpected volatility of net purchasing intensity and the volatilities of returns in terms of daily closing stock return, overnight return, and daytime return, before and after financial crisis in Korea. The result of this study shows that there is negative information spillover effect between the foreign investors' unexpected volatility of net purchasing intensity and the volatility of daily closing stock return for time t-1. However, there is an opposite result for time t, showing positive information transmission effect. For the overnight return, the test result provides there is no statistical significance between the foreign investor's unexpected volatility of net purchasing intensity and the volatilities of return. In addition, I found that the information transmission effect is existed between the foreign investor's unexpected volatility of net purchasing intensity and the volatilities of the daytime return for the entire timeline.