• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.46
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• pp.265-313
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• 2010

Kyoto Protocol is an international convention on concrete performance program for UNFCCC(United Nations Framework Convention on Climate Change), which regulate and prevent to global warming and officially came into effect on February 16, 2005. Kyoto flexible mechanisms, the agreed environmental system in March 1997 in the Third Conference of Parties in UNFCCC General Assembly, Emission Trading System(ETS), Clean Development Mechanism(CDM) and Joint Implementation(JI), are key policies related to environment. In advanced countries, greenhouse gas emissions should be reduced average 5.2% level compared to 1990 in total emissions during 2008-2012. World leading carbon market finished the trial on the EU ETS I greenhouse gas emissions trading system, EU ETS II is operated regularly after 2008. World Bank leads to make 'Prototype Carbon Fund(PCF)' in April 2004, which is the world first carbon fund and a representative public carbon fund type, World Bank operate various funds including present PCF. Thus, I would like to propose as follows in relation to this study: First, in the validity analysis of carbon funds, it would be needed to analyze the Emission Reduction Cost Efficiency(ERCE) of carbon. The ERCE is a break-even value which brings the Net Present Value(NPV) to zero. NPV approach is used among projects and it enables potential projects to be compared and evaluated the ERCE on the basis of the net present value of net future cash flows. Therefore, according to results of analysis, carbon funds should be developed and invested. Second, it would be necessary to allow of issuing bonds together with carbon funds, carbon finance etc. Third, carbon funds, it would be reasonable to have a relatively enough maturity in project and as a financial derivatives in the international financial markets, it is needed various types of transactions. Fourth, it would be needed to standardize the carbon emissions trading for more efficiently. Fifth, it would be necessary to establish and invest in various kinds of domestic and overseas global carbon funds, including governments, privates, governments and privates sectors. And it is also needed to establish the medium and long term plans for carbon funds. Sixth, it would be needed to foster the advanced trade mechanisms for carbon funds in the most effective ways. Finally, carbon funds should be used in harmony with international societies to reduce global warming as the social responsible investing funds and it should be contribute to sustainable development. In addition, it would seem that carbon funds should be studied on establishing the contributable standard of sustainable development in the future assignment.

• Journal of Distribution Science
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• v.10 no.7
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• pp.5-11
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• 2012

The core objective of this research article is to investigate different challenges and opportunities in management as well as start-ups of small businesses in India. The prudence behind this research is to examine various problems in front of the small businesses and to offer vital support and cooperation to overcome those with the support of concerned institutions through consultancy and training programs. The researchers have an intention to make available the research results to the governmental agencies, concerned small business institutions and also to the educational institutions which are continually design plans, programs, policies and strategies to upgrade the managerial and technical dexterities of the small business Indian operators. After thorough revision of relevant literature on small businesses and its management, the researchers used a well structured questionnaire and in-depth personal interviews with 586small business operators selected from manufacturing, trading (retailing and wholesaling), finance, servicing/repair businesses which are located in the coastal districts of Andhra Pradesh in India. The researchers have used convenience sampling and collected data was analyzed with the support of Microsoft Excel and frequency distribution. Noticeably, majority of the small businessmen in India are facing myriad number of challenges both in management and at the time of establishment of their business operations. In particular, 72.47 percent of small businesses operators' have substantiated their strong opinion towards the challenges they are facing particularly finance, marketing and other problems while managing their businesses. The researchers also attempted to get the opinions on problems of the various categories of small businesses while starting their operations. A staggering 68percent of respondents identified the problems related to preparation of business plan, location selection, marketing and other problems like lack of proper credit facilities, skilled manpower, and other infra related problems while setting up of their businesses. On an average, 64.62 and 63.51 percent of small businesses are facing various kinds of problems both at the time of day-to-day management as well as start-up of their businesses respectively. The present research confined with the opinions of only four categories of small business operators particularly from the manufacturing, finance, trading (retailing and wholesaling), and servicing/repair which are continuing their business operations from the nine coastal districts of Andhra Pradesh in India. The present study emphatically provides concrete information required to the business community for identifying an assortment of challenges faced by different small business operators in managing and at the time of their inception. This research paper is first of its kind from this part of the world by offering extensive and credible information required for prospective entrepreneurs in facing the dynamic challenges in managing their business. Furthermore, this research presents invaluable inputs to the stakeholders like all types of governments, policy makers, practitioners, researchers, and educators' about the various impediments faced by the small business community in India.

• KIPS Transactions on Computer and Communication Systems
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• v.11 no.8
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• pp.269-280
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• 2022

With the rise of a decentralized finance market (so called, DeFi) using blockchain technology, users and capital liquidity of decentralized finance applications are increasing significantly. The Automated Market Maker (AMM) is a protocol that automatically calculates the asset price based on the liquidity of the decentralized trading platform, and is currently most commonly used in the decentralized exchanges (DEX), since it can proceed the transactions by utilizing the liquidity pool of the trading platform even if the buyers and sellers do not exist at the same time. However, Automated Market Maker have some disadvantages since the cost efficiency of each transaction using Automated Market Maker depends on the liquidity size of some liquidity pools used for the transaction, so the smaller the size of the liquidity pool and the larger the transaction size, the smaller the cost efficiency of the trade. To solve this problem, some platforms are adopting Transaction Path Routing Algorithm that bypasses transaction path to other liquidity pools that have relatively large size to improve cost efficiency, but this algorithm can be further improved because it uses only a single transaction path to proceed each transaction. In addition to just bypassing transaction path, in this paper we proposed a Multi-Path Routing Algorithm that uses multiple transaction paths simultaneously by distributing transaction size, and showed that the cost efficiency of transactions can be further improved in the Automated Market Maker-based trading environment.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.51
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• pp.3-54
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• 2011

The important and main purpose of revision of Incoterms rules are to adapt it to contemporary commercial practice in world trade, and to contribute to great service to foreign trade. Incoterms$^{(R)}$ 2010 revision basically focuses on trade terms to be used for any mode or modes of transport at compared Incoterms 2000 gouping in four basically different categories, and presents trade terms to be used for traditionally seaborn trade. Therefore the former is for trading in manufactured goods involved in containerization, the latter is for trading in community. This study focuses on a motive of revisions and main features of the Incoterms$^{(R)}$ 2010 rules, an outline, the problems and alternative of them. In conclusion, I would like present as follows; (1) Although they only concerned the models of delivery and critical point, they only say a few of the many factors of a sale contract, that is to say for the devision of fuctions, costs and risks between the contracting parties as supplement law, but the guestion of the legal position of Incoterms rules is various in different countries and scholars. in spite of that, it must focus on the practical application and the wide acceptance of Incoterms rules in world trade. (2) Although they present more simple and clear, unfricative, than Incoterms 2000 rules, in order to help users, the need to unify consistently and fully explanate in contents and expression. (3) Introduction and guidance note of Incoterms$^{(R)}$ 2010 rules basically focuses on the understanding of a motive of revisions as compared Incoterms 2000 rules. But it is well advised to do this on the assumption of understanding the various basic meaning of terms. (4) finally, trade concerned regulations take account of the reflection for the application to domestic and international trade according to formally reconization of availability for both trade.

• Journal of the Korea Concrete Institute
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• v.28 no.1
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• pp.75-84
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• 2016

The purpose of this study was to investigate the performance of solid reinforced concrete columns with triangular reinforcement details. The proposed reinforcement details has economic feasibility and rationality and makes construction periods shorter. A model of solid reinforced concrete columns with triangular reinforcement details was tested under a constant axial load and a quasi-static, cyclically reversed horizontal load. A computer program, RCAHEST (Reinforced Concrete Analysis in Higher Evaluation System Technology), for the analysis of reinforced concrete structures was used. The used numerical method gives a realistic prediction of performance throughout the loading cycles for several test specimens investigated. As a result, proposed triangular reinforcement details for material quantity reduction was superior to existing reinforcement details in terms of required performance.

• Environmental and Resource Economics Review
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• v.20 no.4
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• pp.689-733
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• 2011

This study evaluates a novel scheme to trade sulfur dioxide emission permits subject to non-uniform rates. These rates are based on generators' marginal costs of compliance with environmental policy in a hypothesized least social-cost solution. This scheme is compared against the existing trading program used by the U.S. Environmental Protection Agency, featuring permits tradable one for one. Both policies are modeled to yield identical aggregate emissions. A numerical partial-equilibrium model of the U.S. energy industry is used to infer sulfur dioxide concentrations and health damages, as well as producer and consumer surplus, under the two policies. Regional pollution levels are found to vary across the two policies significantly. The system of exchange rates is estimated to outperform the uniform-trading scheme by $2.2 billion in industry profits and $2.1 billion in health damages, but to reduce consumer surplus by $6.7 billion. Paradoxically, exchange rates are thus estimated to lower total welfare by $2.5 billion. This is due to conceptual mechanism-design problems, as well as empirical issues.

• Journal of the Korean Data Analysis Society
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• v.20 no.6
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• pp.2933-2940
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• 2018

It is known that fruit is more affected by the weather than other crops. Therefore, in order to create high value for farmers, it is necessary to develop a wholesale price model considering the weather. Peaches produced under relatively limited conditions were chosen as subjects of study. The data were collected from 2015 to 2017 provided by okdab 4.0. The meteorological data used for the analysis were generated by weighting the cultivation area and the variables with high correlation among the weather data were selected from the day before to 7 days before. Randomforest, gradient boosting machine, and XGboost were used for the analysis. As a result of analysis, XGboost showed the best performance in the sense of RMSE and correlation, and price prediction was comparatively well predicted, but the accuracy of the trading volume prediction was not so good enough. The top three weather variables affecting to the peach were minimum temperature, average maximum temperature, and precipitation.

• Journal of the Architectural Institute of Korea Planning & Design
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• v.35 no.6
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• pp.47-58
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• 2019

According to the Korea Ministry of Transportation report in 2015, domestic used car trade (3.66million) is twice the number of new car sales (1.84million). However, contrary to the quantitative growth of the used car trading volume, chaotic used-car market practice has not been improved and also, space that holds these markets (facilities) has remained at a very low level of quality. Lemon Market, asymmetry of information, false bait, tout, dual contracts, negative words that qualify the used car market information are still in place. The aim of this study was to understand the unique circumstances of the used car sales market distinguished from new cars, and to analyse the problems of recent domestic used car market facilities and afterwards to draw guidelines for new used car facility architecture. Through literature review, surveys, the characteristics of domestic used car market have been organised and field research and competitive analysis of the Korea used car market architecture is followed. As a result, empirical guideline for Korea used-car market facility is introduced.

• Computers and Concrete
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• v.13 no.4
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• pp.501-516
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• 2014

The purpose of this study was to investigate the performance of precast concrete pier cap system. The proposed precast pier cap provides an alternative to current cast-in-place systems, particularly for projects in which a reduced construction time is desired. Five large-scale pier cap specimens were constructed and tested under quasistatic monotonic loading. The computer program, RCAHEST (Reinforced Concrete Analysis in Higher Evaluation System Technology) was used for the analysis of reinforced concrete structures. A bonded tendon element is used based on the finite element method, and can represent the interaction between the tendon and concrete of a prestressed concrete member. A joint element is used in order to predict the inelastic behaviors of segmental joints with a shear key. This study documents the testing of the precast concrete pier cap system under monotonic loading and presents conclusions and design recommendations based on the experimental and analytical findings. Additional full-scale experimental research is needed to refine and confirm design details, especially for actual detailing employed in the field.

• Journal of Intelligence and Information Systems
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• v.22 no.2
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• pp.81-96
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• 2016

As the internet has become widespread and easy to access everywhere, it is common for people to search information via online search engines such as Google and Naver in everyday life. Recent studies have used online search volume of specific keyword as a measure of the internet users' attention in order to predict disease outbreaks such as flu and cancer, an unemployment rate, and an index of a nation's economic condition, and etc. For stock traders, web search is also one of major information resources to obtain data about individual stock items. Therefore, search volume of a stock item can reflect the amount of investors' attention on it. The investor attention has been regarded as a crucial factor influencing on stock price but it has been measured by indirect proxies such as market capitalization, trading volume, advertising expense, and etc. It has been theoretically and empirically proved that an increase of investors' attention on a stock item brings temporary increase of the stock price and the price recovers in the long run. Recent development of internet environment enables to measure the investor attention directly by the internet search volume of individual stock item, which has been used to show the attention-induced price pressure. Previous studies focus mainly on Dow Jones and NASDAQ market in the United States. In this paper, we investigate the relationship between the individual investors' attention measured by the internet search volumes and stock price changes of individual stock items in the KOSDAQ market in Korea, where the proportion of the trades by individual investors are about 90% of the total. In addition, we examine the difference between industries in the influence of investors' attention on stock return. The internet search volume of stocks were gathered from "Naver Trend" service weekly between January 2007 and June 2015. The regression model with the error term with AR(1) covariance structure is used to analyze the data since the weekly prices in a stock item are systematically correlated. The market capitalization, trading volume, the increment of trading volume, and the month in which each trade occurs are included in the model as control variables. The fitted model shows that an abnormal increase of search volume of a stock item has a positive influence on the stock return and the amount of the influence varies among the industry. The stock items in IT software, construction, and distribution industries have shown to be more influenced by the abnormally large internet search volume than the average across the industries. On the other hand, the stock items in IT hardware, manufacturing, entertainment, finance, and communication industries are less influenced by the abnormal search volume than the average. In order to verify price pressure caused by investors' attention in KOSDAQ, the stock return of the current week is modelled using the abnormal search volume observed one to four weeks ahead. On average, the abnormally large increment of the search volume increased the stock return of the current week and one week later, and it decreased the stock return in two and three weeks later. There is no significant relationship with the stock return after 4 weeks. This relationship differs among the industries. An abnormal search volume brings particularly severe price reversal on the stocks in the IT software industry, which are often to be targets of irrational investments by individual investors. An abnormal search volume caused less severe price reversal on the stocks in the manufacturing and IT hardware industries than on average across the industries. The price reversal was not observed in the communication, finance, entertainment, and transportation industries, which are known to be influenced largely by macro-economic factors such as oil price and currency exchange rate. The result of this study can be utilized to construct an intelligent trading system based on the big data gathered from web search engines, social network services, and internet communities. Particularly, the difference of price reversal effect between industries may provide useful information to make a portfolio and build an investment strategy.