• Journal of the Korean Data and Information Science Society
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• v.24 no.1
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• pp.161-170
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• 2013

The FX (Foreign Exchange) is a form of exchange for the global decentralized trading of international currencies. The simple sense of Forex is simultaneous purchase and sale of the currency or the exchange of one country's currency for other countries'. We can find the consistent rules of trading by comparing the gradient boosting method and the decision trees methods. Methods such as time series analysis used for the prediction of financial markets have advantage of the long-term forecasting model. On the other hand, it is difficult to reflect the rapidly changing price fluctuations in the short term. Therefore, in this study, gradient boosting method and decision tree method are applied to analyze the short-term data in order to make the rules for the revenue structure of the FX market and evaluated the stability and the prediction of the model.

• Management & Information Systems Review
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• v.31 no.3
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• pp.21-46
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• 2012

This paper attempts to offer an effective strategy of hedge fund based on trade probability control in the futures market. By using various technical indicators, we create an association rule and transforms it into a trading rule to be used as an investment strategy. Association rules are made by the combination of various technical indicators and the range of individual indicator value. Adjustments of trade probabilities are performed by depending on the rule combinations and it can be utilized to establish an effective investment strategy onto the risk management. In order to demonstrate the superiority of the investment strategy proposed, we analyzed a profitability using the futures index based on KOSPI200. Experiments results show that our proposed strategy could effectively manage and response the dynamics investment risks.

• Fashion & Textile Research Journal
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• v.8 no.3
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• pp.269-274
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• 2006

The purpose of this study is to examine the costumes and trading goods of the Korean envoys in 1811. The findings of the study are as follows: The Korean envoys, as shown in literature, were dressed up three different types of costumes: Pyongbok, Gongbok, Jobok. They put on different kinds of clothes depending on the purpose of the events such as for ceremonial purpose or for traveling purpose. For traveling purpose, the envoys wore Pyongbok like Waryonggwan and Hakchangeui, which were commonly used as Pyeonbok in those times of Chosun era. For ceremonial purpose, they chose to wear Danryeong, Gongbok, Geumgwanjobok in this order following the order of the importance of the ceremony. The design of Jobok and Gongbok of Jeongsa and Busa were different from that of the early Chosun era. This difference in the Jobok and Gongbok demonstrates that Gwanbok has been transformed with the change in the general Po system in the late Chosun era. When the costumes of Korean envoys in 1811 were compared to those in 1711, there were similarities in terms of the design of Jobok and Gongbok, which indicated that little had changed for the period of 100 years. The most popular exchanged Byeolpok of Chosun was articles of clothing such as Daeyuja, Daedanja, Baekjeopo, Sangjeopo, and Baekmyeonju, while that of Japan was mostly objects of craftwork and a small amount of Po. The fact that cloth was one of the main items from the early Chosun era to the early 19C shows the highly developed clothing culture of Chosun era.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.22 no.1
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• pp.123-130
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• 2021

With the recent developments in computer technology, there has been an increasing interest in the field of machine learning. This also has led to a significant increase in real business cases of machine learning theory in various sectors. In finance, it has been a major challenge to predict the future value of financial products. Since the 1980s, the finance industry has relied on technical and fundamental analysis for this prediction. For future value prediction models using machine learning, model design is of paramount importance to respond to market variables. Therefore, this paper quantitatively predicts the stock price movements of individual stocks listed on the KOSPI market using machine learning techniques; specifically, the reinforcement learning model. The DQN and A2C algorithms proposed by Google Deep Mind in 2013 are used for the reinforcement learning and they are applied to the stock trading strategies. In addition, through experiments, an input value to increase the cumulative profit is selected and its superiority is verified by comparison with comparative algorithms.

• The Korean Journal of Financial Studies
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• v.3 no.1
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• pp.233-265
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• 1996

We examine the impact of public and private information on price movements using the thirty DJIA stocks and twenty-one NASDAQ stocks. We find that the standard deviation of daily returns on information days (dividend announcement, earnings announcement, insider purchase, or insider sale) is much higher than on no-information days. Both public information matters at the NYSE, probably due to masked identification of insiders. Earnings announcement has the greatest impact for both DJIA and NASDAQ stocks, and there is some evidence of positive impact of insider asle on return volatility of NASDAQ stocks. There has been considerable debate, e.g., French and Roll (1986), over whether market volatility is due to public information or private information-the latter gathered through costly search and only revealed through trading. Public information is composed of (1) marketwide public information such as regularly scheduled federal economic announcements (e.g., employment, GNP, leading indicators) and (2) company-specific public information such as dividend and earnings announcements. Policy makers and corporate insiders have a better access to marketwide private information (e.g., a new monetary policy decision made in the Federal Reserve Board meeting) and company-specific private information, respectively, compated to the general public. Ederington and Lee (1993) show that marketwide public information accounts for most of the observed volatility patterns in interest rate and foreign exchange futures markets. Company-specific public information is explored by Patell and Wolfson (1984) and Jennings and Starks (1985). They show that dividend and earnings announcements induce higher than normal volatility in equity prices. Kyle (1985), Admati and Pfleiderer (1988), Barclay, Litzenberger and Warner (1990), Foster and Viswanathan (1990), Back (1992), and Barclay and Warner (1993) show that the private information help by informed traders and revealed through trading influences market volatility. Cornell and Sirri (1992)' and Meulbroek (1992) investigate the actual insider trading activities in a tender offer case and the prosecuted illegal trading cased, respectively. This paper examines the aggregate and individual impact of marketwide information, company-specific public information, and company-specific private information on equity prices. Specifically, we use the thirty common stocks in the Dow Jones Industrial Average (DJIA) and twenty one National Association of Securities Dealers Automated Quotations (NASDAQ) common stocks to examine how their prices react to information. Marketwide information (public and private) is estimated by the movement in the Standard and Poors (S & P) 500 Index price for the DJIA stocks and the movement in the NASDAQ Composite Index price for the NASDAQ stocks. Divedend and earnings announcements are used as a subset of company-specific public information. The trading activity of corporate insiders (major corporate officers, members of the board of directors, and owners of at least 10 percent of any equity class) with an access to private information can be cannot legally trade on private information. Therefore, most insider transactions are not necessarily based on private information. Nevertheless, we hypothesize that market participants observe how insiders trade in order to infer any information that they cannot possess because insiders tend to buy (sell) when they have good (bad) information about their company. For example, Damodaran and Liu (1993) show that insiders of real estate investment trusts buy (sell) after they receive favorable (unfavorable) appraisal news before the information in these appraisals is released to the public. Price discovery in a competitive multiple-dealership market (NASDAQ) would be different from that in a monopolistic specialist system (NYSE). Consequently, we hypothesize that NASDAQ stocks are affected more by private information (or more precisely, insider trading) than the DJIA stocks. In the next section, we describe our choices of the fifty-one stocks and the public and private information set. We also discuss institutional differences between the NYSE and the NASDAQ market. In Section II, we examine the implications of public and private information for the volatility of daily returns of each stock. In Section III, we turn to the question of the relative importance of individual elements of our information set. Further analysis of the five DJIA stocks and the four NASDAQ stocks that are most sensitive to earnings announcements is given in Section IV, and our results are summarized in Section V.

• The Journal of the Korea Contents Association
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• v.13 no.5
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• pp.436-442
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• 2013

Recently, online environment is actively used so it will be needed to identify the factors influencing satisfaction for continuous success. In this paper, we explain the users' satisfaction of online purchasing IT and verify them through the empirical analysis. We select basic variables from TAM (Technology Acceptance Model) and add specific variables from former research about user's trait. We chose satisfaction, perceived easiness, perceived usefulness, regret and maximizing tendency. Data collected from 150 user who had prior experiences with online purchasing IT were empirically tested against the research model using partial least square (PLS). The results show that perceived easiness, perceived usefulness and regret are significantly related to satisfaction and maximizing tendency has positive impact on perceived easiness, perceived usefulness and regret significantly.

• The Journal of Korean Association of Computer Education
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• v.7 no.5
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• pp.93-99
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• 2004

The most important technology in the electronic commerce based on Internet is to guarantee the security of trading information exchange. Many technologies are proposed as a standard to support this security problem. One of them is an XML (eXtensible Markup Language). This is used in various applications as the document standard for electronic commerce system. The XML security has become very important topic. In this paper an XML security model for web services based electronic commerce system to guarantee the secure exchange of trading information. To accomplish the security of XML, the differences of XML signature, XML encryption and XML key management scheme respect to the conventional system should be provided. The new architecture is proposed based on unique characteristics of XML. Especially the method to integrate the process management system need to the electronic commerce is proposed.

• The Korean Journal of Community Living Science
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• v.14 no.1
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• pp.13-35
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• 2003

This study aims at analyzing the leadership-types that have been affecting the social capital of community organization. The methods for this study are literatures review and survey to community organizations in Daegucity and Kyungpook. The questionnaires are sent to 426 leaders who are community organization leaders, 35.%(150) of the total returned questionnaire. The statistical methods used for the data were frequency, percentile, and regression. The major findings of this study are summarized as follows: 1)Direction for improving the social capital of community organization aspect of respondent's personal characteristic (1)female members' rate of community organization should be more high. (2)leader's age is to be over fifty, and educational background of high school is resonable. (3)the leader's religious is buddhism, the leaders of community organization should take the adult education program that related to leadership. 2)Resonable leadership-types to improve the social capital of community organization as follow; (1)reformative leadership is more important than trading leadership for affecting positively the social capital of community organization. (2)the authoritative leadership of reformative leadership-types is the most important than anyone else. (3)the condition-reward leadership of trading leadership types is affecting positively the social capital of community organization. And the authoritative leadership is needed for increasing the social capital of community organizations in Daegucity and Kyungpook.

• The Journal of Asian Finance, Economics and Business
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• v.5 no.4
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• pp.95-100
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• 2018

The study investigates the factors that affect Kyrgyzstan's bilateral trade flows with its main trading partners and attempts to predict trade potential for Kyrgyzstan. Using panel data, the gravity model is applied to estimate Kyrgyzstan's trade from 2000 to 2016 for its 35 main trading partners. The coefficients derived from the gravity-model estimation are then used to predict trade potential for Kyrgyzstan. Results proved to be successful and explained 63% of the fluctuations in Kyrgyzstan's trade. According to the results, Kyrgyzstan's and its partners' GDP have a positive effect on trade, while distance and partners' population prove to have a negative effect. Predicted trade potential reveals that neighboring countries (China, Kazakhstan, Uzbekistan, and Tajikistan) and Russia still have a significant trade potential. Kyrgyzstan, being a less developed economy, even by Central Asia standards, can only achieve its goals of reducing poverty and becoming more developed by increasing its overall trade with the rest of the world. Therefore, it is essential to study the main determinants of Kyrgyzstan's bilateral trade. In this way, we can help policy makers formulate policies to expand Kyrgyzstan's trade. This study is the first attempt to apply to the gravity model to Kyrgyzstan in an attempt to predict trade potential.

• Journal of Korea Port Economic Association
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• v.17 no.1
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• pp.3-26
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• 2001

Competitive and reliable maritime transport services benefit the economy as a whole, and are key efficiency factors for the production of both goods and services. Although maritime transport sector is very liberalized compared to many other service sectors, certain obstacles must be overcome before full liberalization of the maritime transport can be realized. Particularly, maritime transport services in Northeast Asia are regulated by a complicated and outdated system. To remove these barkers two approaches can be used: a regional trading arrangement approach and a multilateral approach via WTO. However, multilateral efforts are not likely to be successful in achieving any concrete progress towards maritime transport liberalization in the short- to medium-term in Northeast Asia. Consequently, it may be the best to take the following two progressive approaches and to make them work towards liberalization of the maritime transport market: a bilateral approach and a trilateral approach. A gradual process of liberalization would expand the market, help operators achieve economies of scale, promote the international division of labor and specialization, enhance the effective management of shipping services, and promote the long-term interests and welfare of the user by improving service quality and diversifying services. A liberalized and integrated maritime transport market in Northeast Asia should achieve both of these long-run policy objectives by benefiting both the transport service users and the transport service providers. In order to move the maritime transport liberalization programs as quickly as possible, it is desirable to establish a "Regional Maritime Transport Liberalization Committee." We suggest it to be a Tripartite (China, Japan and Korea) Committee initially, which can later expand its membership to include other Northeast Asian countries.