• 유통과학연구
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• 제13권5호
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• pp.71-82
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• 2015

Purpose - The purpose of this study is to investigate risk price implied from the pricing kernel of Korean stock distribution market. Recently, it is considered that the quantitative easing programs of major developed countries are contributing to a reduction in global uncertainty caused by the 2007~2009 financial crisis. If true, the risk premium as compensation for global systemic risk or economic uncertainty should show a decrease. We examine whether the risk price in the Korean stock distribution market has declined in recent years, and attempt to provide practical implications for investors to manage their portfolios more efficiently, as well as academic implications. Research design, data and methodology - To estimate the risk price, we adopt a non-parametric method; the minimum norm pricing kernel method under the LOP (Law of One Price) constraint. For the estimation, we use 17 industry sorted portfolios provided by the KRX (Korea Exchange). Additionally, the monthly returns of the 17 industry sorted portfolios, from July 2000 to June 2014, are utilized as data samples. We set 120 months (10 years) as the estimation window, and estimate the risk prices from July 2010 to June 2014 by month. Moreover, we analyze correlation between any of the two industry portfolios within the 17 industry portfolios to suggest further economic implications of the risk price we estimate. Results - According to our results, the risk price in the Korean stock distribution market shows a decline over the period of July 2010 to June 2014 with statistical significance. During the period of the declining risk price, the average correlation level between any of the two industry portfolios also shows a decrease, whereas the standard deviation of the average correlation shows an increase. The results imply that the amount of systematic risk in the Korea stock distribution market has decreased, whereas the amount of industry-specific risk has increased. It is one of the well known empirical results that correlation and uncertainty are positively correlated, therefore, the declining correlation may be the result of decreased global economic uncertainty. Meanwhile, less asset correlation enables investors to build portfolios with less systematic risk, therefore the investors require lower risk premiums for the efficient portfolio, resulting in the declining risk price. Conclusions - Our results may provide evidence of reduction in global systemic risk or economic uncertainty in the Korean stock distribution market. However, to defend the argument, further analysis should be done. For instance, the change of global uncertainty could be measured with funding costs in the global money market; subsequently, the relation between global uncertainty and the price of risk might be directly observable. In addition, as time goes by, observations of the risk price could be extended, enabling us to confirm the relation between the global uncertainty and the effect of quantitative easing. These topics are beyond our scope here, therefore we reserve them for future research.

• 대한간호학회지
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• 제31권2호
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• pp.244-256
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• 2001

The purpose of this study was to investigate the effects of coping mechanisms on uncertainty and depression. The subjects were 71 cancer patients selected from Junbook National University Hospital, and the data collection period was from June 21 to October 19 of 2000. Uncertainty was measured by using Mishel's Uncertainty Scale, problem- focused coping, and emotional-focused coping. The data was collected by a questionnaire developed by Lee (1984), and then depression measured by using Beck's depression scale. program by Pearson Correlation Coefficients, and Path analysis. The results were as follows : 1. The mean uncertainty score was 59.17, the mean problem-focused coping score was 48.78, the mean emotional-focused coping score was 42.52. 2. The mean depression score was 15.77. 3. Uncertainty in illness was significantly related to depression (p=0.003) and emotional-focused coping (p=0.028), but uncertainty was not associated with coping mechanisms. 4. When analyzed multiple regression between uncertainty, problem-focused coping, emotional- focused coping, and depression, more specifically emotional-focused coping showed a stronger association with depression than problem-focused coping. 5. Depression was highly correlated with economic status (p=0.015), educational background (p=0.005), duration of disease (p=0.045). 6. Problem-focused coping and emotional-focused coping appeared to function as moderators instead mediators on the relation between uncertainty and depression. In addition, as a whole, uncertainty showed a significant moderating effect on depression, while problem-focused coping did on depression. Finally, limitation of present findings were discussed and implications for future studies are suggested.

• 부모자녀건강학회지
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• 제13권1호
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• pp.35-43
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• 2010

Purpose: This study was a descriptive research to provide fundamental data in ensuring a high quality of nursing service needed by children's parent according to perception of uncertainty and care satisfaction of them between pediatric outpatient department and emergency room. Methods: For this study, 192 children's parents were questioned in a general hospital located in Busan from August 1 to 31. 2009. The collected data were scored by use of frequencies, $x^2$ test, t-test, AONVA, Pearson's correlation coefficient via SPSS/WIN 17.0. Results: With the compare of characteristics related to children's parents visiting emergency room and pediatric outpatient department, there were statistically significant difference in relation and age of parent, main caregiver, cause of arrival, and waiting time from arrival to procedure. The perception of uncertainty for parent in the emergency room showed significant difference to outpatient department. In nursing service, the highest score was category of professional skill and technic. In addition, overall parents' perceptions on providing information showed lower than any other nursing service. Last but not least, a significant correlation indicated between the perception of uncertainty and satisfaction of nursing service. Conclusion: Efforts to improve parent satisfaction for nursing service are needed to decrease their perception of uncertainty. Providing information and communication by nurses are necessary to improve quality of nursing service.

• 국제학술발표논문집
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• The 3th International Conference on Construction Engineering and Project Management
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• pp.1313-1317
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• 2009

Deflections of Reinforced concrete structures must satisfy the permissible values and it is hard to predict the due to uncertainty of deflection of the reinforced concrete structures. Thus, many researchers have suggested a number of experimental equation of deflection against the uncertainty. In a specification, a procedure to evaluate flexure deflection using effective moment of inertia and moment-curvature relation is suggested. ACI offers a method using effective moment of inertia, which has been developed by Branson. Eurocode 2(EC2) suggests a procedure to evaluate deflection of reinforced concrete structure using moment-curvature relation. In this paper, a series of experiments were conducted on the singly reinforced concrete beams which have the same reinforcement ratio and different concrete strength. Therefore, the effect of the concrete strength on the deflection of the beams was analysed. The deflections obtained from the experiment were compared with the deflections calculated with ACI code and EC2.

• 천문학회보
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• 제35권1호
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• pp.79-79
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• 2010

To investigate whether the present-day active galaxies follow the same black hole mass vs. stellar velocity dispersion (MBH-$\sigma*$) relation as quiescent galaxies, we measured the velocity dispersions of a sample of local Seyfert 1 galaxies, for which black hole masses were measured via reverberation mapping. We measured stellar velocity dispersions from high S/N optical spectra centered on the Ca II triplet region (${\sim}8500^{\circ}A$), obtained at the Keck, Palomar, and Lick Observatories. For two objects, in which the Ca II triplet region was contaminated by nuclear emission, we used high-quality H-band spectra obtained with the OH-Suppressing Infrared Imaging Spectrograph and laser-guide star adaptive optics at the Keck-II Telescope. Combining our new measurements with data from the literature, we assemble a sample of 24 active galaxies with stellar velocity dispersions and reverberation MBH in the range of black hole mass 106< MBH /$M{\odot}$ < 109,toobtainthefirstreverberationmappingconstraintsontheslopeandintrinsicscatteroftheMBH- $\sigma*$ relation of active galaxies. Assuming a constant virial coefficient f for the reverberation MBH, we find a slope ${\beta}=3.55{\pm}0.60$ and the intrinsic scatter ${\sigma}int=0.43{\pm}0.08$ dex in the relation log (MBH/M${\odot}$)=$\alpha+\beta$ log(${\sigma}*$/200 km s-1), which are consistent with those found for quiescent galaxies. We derive an updated value of the virial coefficient f by finding the value which places the reverberation masses in best agreement with the MBH - $\sigma*$ relation of quiescent galaxies; using the quiescent MBH - $\sigma*$ relation determined by Gultekin et al. we find log f=0.72+0.09 (or $0.71{\pm}0.10$) with an intrinsic scatter of $0.44{\pm}0.07$ (or 0.46+0.07) dex. No correlations between f and parameters connected to the physics of accretion (such as the Eddington ratio or line-shape measurements) are found. The uncertainty of the virial coefficient remains one of the main sources of the uncertainty in black hole mass determination using reverberation mapping, and therefore also in single-epoch spectroscopic estimates of black hole masses in active galaxies.

• International Journal of Fuzzy Logic and Intelligent Systems
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• 제10권4호
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• pp.259-262
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• 2010

Study about fuzzy entropy and similarity measure on intuitionistic fuzzy sets (IFSs) were proposed, and analyzed. Unlike fuzzy set, IFSs contains uncertainty named hesistancy, which is contained in fuzzy membership function itself. Hence, designing fuzzy entropy is not easy because of ununified entropy definition. By considering different fuzzy entropy definitions, fuzzy entropy is designed and discussed their relation. Similarity measure was also presented and verified its usefulness to evaluate degree of similarity.

• 한국군사과학기술학회지
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• 제4권2호
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• pp.233-242
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• 2001

This paper is a analytical study on the synergic effects of combat power in the netted battlefield. In this work, the relation between the netted battlefield and the uncertainty are described by the command and control system. It is shown that the netted battlefield may reduce the uncertainty in battlefield and increase the combat power

• 한국디자인학회:학술대회논문집
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• 한국디자인학회 2002년도 봄 학술발표회 논문집
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• pp.42-43
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• 2002

• 한국수자원학회:학술대회논문집
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• 한국수자원학회 2003년도 학술발표회논문집(1)
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• pp.317-320
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• 2003

• 농촌지도와개발
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• 제16권3호
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• pp.643-668
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• 2009

The purpose of this study is to estimate the value of the sociocultural multifunctionality of rural areas in Korea. The sociocultural multifunctionality of rural areas consists of emotional comfort, green landscape, cultural heritage, and rural viability values. The value of the sociocultural multifunctionality was assessed by contingent valuation method incoporating preference uncertainty. The log-logit models indicated that households were willing to pay 14,027~26,757 won per month and the model with preference uncertainty gave the highest WTP. WTP was affected by respondent's sex, location, awareness of relation with multifunctionality and others. The total value of sociocultural multifunctionality of rural areas in Korea estimated to 2,691~5,134 billion won per year.