• Management & Information Systems Review
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• v.33 no.1
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• pp.139-155
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• 2014

This study is to examine the linkage of volatility between changes in the stock market of India and other countries through the integration of the world economy. The results were as follows: First, autocorrelation or serial correlation did not exist in the classic RS model, but long-term memory was present in the modified RS model. Second, unit root did not exist in the unit root test for all periods, and the series were a stable explanatory power and a long-term memory with the normal conditions in the ARFIMA model. Third, in the multivariate asymmetric BEKK and VAR model before the financial crisis, it showed that there was a strong influence of the own market of Taiwan and UK in the conditional mean equation, and a strong spillover effect from Japan to India, from Taiwan to China(Korea, US), from US(Japan) to UK in one direction. In the conditional variance equation, GARCH showed a strong spillover effect that indicated the same direction as the result of ARCH coefficient of the market itself. Asymmetric effects in three home markets and between markets existed. Fourth, after the financial crisis, in the conditional mean equation, only the domestic market in Taiwan showed strong influences, and strong spillover effects existed from India to US, from Taiwan to Japan, from Korea to Germany in one direction. In the conditional variance equation, strong spillover effects were the same as the result of the pre-crisis and asymmetric effect in the domestic market in UK was present, and one-way asymmetric effect existed in Germany from Taiwan. Therefore, the results of this study presented the linkage between the volatilities of the stock market of India and other countries through the integration of the world economy, observing and confirming the asymmetric reactions and return(volatility) spillover effects between the stock market of India and other countries.

• Management & Information Systems Review
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• v.34 no.3
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• pp.17-39
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• 2015

This study examined the structural changes and volatility in the global stock markets using a Markov Regime Switching ARCH model developed by the Hamilton and Susmel (1994). Firstly, the US, Italy and Ireland showed that variance in the high volatility regime was more than five times that in the low volatility, while Korea, Russia, India, and Greece exhibited that variance in the high volatility regime was increased more than eight times that in the low. On average, a jump from regime 1 to regime 2 implied roughly three times increased in risk, while the risk during regime 3 was up to almost thirteen times than during regime 1 over the study period. And Korea, the US, India, Italy showed ARCH(1) and ARCH(2) effects, leverage and asymmetric effects. Secondly, 278 days were estimated in the persistence of low volatility regime, indicating that the mean transition probability between volatilities exhibited the highest long-term persistence in Korea. Thirdly, the coefficients appeared to be unstable structural changes and volatility for the stock markets in Chow tests during the Asian, Global and European financial crisis. In addition, 1-Step prediction error tests showed that stock markets were unstable during the Asian crisis of 1997-1998 except for Russia, and the Global crisis of 2007-2008 except for Korea and the European crisis of 2010-2011 except for Korea, the US, Russia and India. N-Step tests exhibited that most of stock markets were unstable during the Asian and Global crisis. There was little change in the Asian crisis in CUSUM tests, while stock markets were stable until the late 2000s except for some countries. Also there were stable and unstable stock markets mixed across countries in CUSUMSQ test during the crises. Fourthly, I confirmed a close relevance of the volatility between Korea and other countries in the stock markets through the likelihood ratio tests. Accordingly, I have identified the episode or events that generated the high volatility in the stock markets for the financial crisis, and for all seven stock markets the significant switch between the volatility regimes implied a considerable change in the market risk. It appeared that the high stock market volatility was related with business recession at the beginning in 1990s. By closely examining the history of political and economical events in the global countries, I found that the results of Lamoureux and Lastrapes (1990) were consistent with those of this paper, indicating there were the structural changes and volatility during the crises and specificly every high volatility regime in SWARCH-L(3,2) student t-model was accompanied by some important policy changes or financial crises in countries or other critical events in the international economy. The sophisticated nonlinear models are needed to further analysis.

• Management & Information Systems Review
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• v.38 no.4
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• pp.61-78
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• 2019

When calculating gains from transfers of assets inherited or donated, the value recognized at the market price as of the date of inheritance or acquisition is recognized as the actual transaction value at the time of acquisition. However, Precedents for the appeal for review by the NTS, the request for adjudgment by the Tax Tribunal(TT) and the request of examination by the Board of Audit and Inspection of Korea(BAI) and the cases of the lawsuit have not shown a consistent results on how much such a the actual transaction value will be measured. This study investigates the operating state of the current tax appeal system using the statistical data of the TT, NTS, and BAI and cases of the lawsuit from 2008 to 2017, and suggests the Improvement of Capital Gains Tax Act on the transfer of inherited and donated property. As a result, total number of requested cases has diminished because cases of the pre-assessment review and the reconsideration appeal by the NTS have decreased steadily over the past decade, while the cases of the lawsuit and the administrative trials(the request for adjudgment by the TT, the appeal for review by the NTS, and the request of examination by the BAI) have been steadily increasing. Also This study found that more than 40% of the complainants proceeded with the cases of the lawsuit proceedings in disagreement with the disposition of tax dissatisfaction under the administrative trials. In addition, Even though the retrospective appraisal price is not recognized as the market price due to the strict interpretation of the tax regulations, it can be seen that it is interpreted as a more expanded concept in the application of the market price than the government office or the tax judge. Therefore, according to the precedents of the cases lawsuit, it is necessary to establish a regulation on the recognition of retroactive appraisal value.

• Management & Information Systems Review
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• v.35 no.2
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• pp.67-81
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• 2016

The purpose of this study was to investigate lots of problems that the current tax appeal system has, which are becoming serious issues as tax appeal cases are recently increasing. Those problems include the unreasonable procedure and period of deliberation on tax appeal cases, permission of a same tax appeal by more than one governmental agencies and the compulsory transposition system of tax appeal cases. All of these problems should be rectified in order to ensure that the currently tax appeal system protect taxpayers' rights and interests effectively. According to the current tax appeal system, the period from the receipt of tax appeal cases to ruling on them is up to 90 days. This is unrealistic, so that period should be allowed to be extended if those cases about more complicated taxation or if they are even harder to be treated for any reason. At present, chief of Tax Tribunal has to unconditionally accept resolution from the meeting of tax judges and make a ruling accordingly because he has no right to reject that resolution. But now, it's time to establish legal grounds based on which the chief suggests the tax judges to reconsider their resolution if it is undoubtedly wrong. Currently, there's a relatively little acceptance of tax appeals from people who can't financially afford to designate a proxy for them. To solve this problem, lots of efforts to make socially recognized the necessity to relive those people's rights and interests and make widely known the Public Proxy of Tax Appeal System. The current tax appeal system allows the Board of Audit and Inspection to be an appealer. This means taxation may be deliberated on by more than one governmental agencies. It is so inefficient. Therefore, tax appeal by the board should be only about taxation that they found unacceptable by audit and inspection. Except for this, it is not allowed that the Board of Audit and Inspection file tax appeals that are, in turn, necessarily transported to the National Taxation. Esecially, the transposition should be a procedure that is occasionally taken. In sum, this study investigated problems with the current tax appeal system, and made suggestions about solutions that are not theoretical but practical.

• Journal of the Korean Institute of Landscape Architecture
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• v.48 no.4
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• pp.41-54
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• 2020

This study was conducted to provide basic data for a transparent and fair bidding system by identifying problems and suggesting improvement measures through an analysis of the bidding status for construction projects and service-related landscaping of multi-family housing. To this end, we used the data from the "Multi-Family Housing Management Information System (K-apt)" that provides the history of apartment maintenance, bidding information, and the electronic bidding system to examine the winning bid status and amount, along with the size and trends of the winning bids by year, and the results of the selection of operators by construction type. As a result, it was found that out of the total number of successful bids (36,831), 4.4% (16,631) were in the landscaping business, and the average winning bid value was found to be about 24 million won. According to the data, 73% of the landscaping cases were valued between 3 million won and 30 million won, and 58.6% of the cases were in the field of "pest prevention and maintenance". 36% of the total number of bids were awarded from February to April, with "general competitive bidding" accounting for 59.8% of the bidding methods. As for the method of selecting the winning bidder, 55% adopted the "lowest bid" and "electronic bidding method," and 45% adopted the "qualification screening system" and "direct bidding method." As an improvement to the problems derived from the bidding status data, the following are recommended: First, the exception clause to the current 'electronic bidding method' application regulations must be minimized to activate the electronic bidding method so that a fair bidding system can be operated. Second, landscaping management standards for green area environmental quality of multi-family housing must be prepared. Third, the provisions for preparing design books, such as detailed statements and drawings before the bidding announcement, and calculating the basic amount shall be prepared so that fair bidding can be made by specifying the details of the project concretely and objectively must be made. Fourth, for various bidding conditions in the 'business operator selection guidelines', detailed guidelines for each condition, not the selection, need to be prepared to maintain fairness and consistency. These measures are believed to beuseful in the fair selection of landscaping operators for multi-family housing projects and to prepare objective and reasonable standards for the maintenance of landscaping facilities and a green environment.

• Management & Information Systems Review
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• v.38 no.2
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• pp.67-81
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• 2019

In accordance with K-IFRS 1109, financial instruments are classified to amortized cost (AC), fair value through other comprehensive income (FVOCI) and fair value through profit or loss (FVPL). And disposal gains are prohibited to be recirculated for net income when FVOCI financial instruments would be sold in the future, so-called recirculation prohibition. This research investigates whether accumulated other comprehensive income of available-for sale financial assets(AFS) under K-IFRS 1039, could affect reclassified amounts to the FVPL securities from the AFS securities. Also, this study investigates the effects of the reported income on the reclassified FVPL, because CEOs are likely to try earnings management when net income is predicted to be less than target or is low, comparing other firms. As a result of empirical analysis, first, I find that accumulated other comprehensive income of the AFS has a positive impact on the reclassified FVPL. Second, level of reporting income has no significant impact on the reclassified FVPL. Third, interaction effects are significantly positive on the firms which have more other comprehensive income and less level of reported income. Fourth, the effects of the bank and securities are more distinct than those of the manufactures. This study is the first research to investigate earnings management through AFS at the timing of the first adoption of K-IFRS 1109. Empirical results of this study provide evidence of earnings management on the reclassification of FVPL which gives meaningful implications to regulators, academic researchers and auditors.

• Korean Journal of Clinical Laboratory Science
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• v.49 no.3
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• pp.285-293
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• 2017

Globally, 1.3 million people develop colon cancer every year, and 600,000 people die each year it. In Korea, colorectal carcinoma was associated with the highest death rate, accounting for 8,380 people, among solid cancers in 2015. Among the various methods for the diagnosis and study of colorectal carcinoma, the results obtained by cytogenetic and molecular genetic methods were compared. Detection rate was 47% in 18q, 40% in 17p, 27% in 22q, and 17% in 10q via CGH; detection rate was 57% in D18S59, 50% in D18S68, 50% in TP53CA, 47% in D18S6940% in D22S274, 37% in D22S283, 27% in D10S187, and 23% in D10S541 with LOH. Microsatellite marker matching rates were 100% in D22S274, 100% in D22S283, 100% in D10S186, 100% in D10S187, 100% in D10S541, 93% in D18S69, 93% in D18S68, 92% in TP53CA, and 89% in D18S59. The agreement rate between the two methods was 94.4% based on positive results using CGH. Based on the advantages of CGH, which was the ability to obtain information regarding the entire tumor genome at once, this experiment could identify the region with significant deletion using CGH and the more limited region LOH, with a completely different approach. LOH in the recurrent high-risk group, 18q21, was helpful in the selection of treatment modalities and in prognostic estimation as well as making the most appropriate decision for treatment. Therefore, it is suggested that LOH with surgical site tissues could be one of the treatment methods for recurrent high-risk group among patients with colorectal carcinoma.

• Progress in Medical Physics
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• v.21 no.3
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• pp.253-260
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• 2010

Most brachytherapy treatment planning systems employ a dosimetry formalism based on the AAPM TG-43 report which does not appropriately consider tissue heterogeneity. In this study we aimed to set up a simple Monte Carlo-based intracavitary high-dose-rate brachytherapy (IC-HDRB) plan verification platform, focusing particularly on the robustness of the direct Monte Carlo dose calculation using material and density information derived from CT images. CT images of slab phantoms and a uterine cervical cancer patient were used for brachytherapy plans based on the Plato (Nucletron, Netherlands) brachytherapy planning system. Monte Carlo simulations were implemented using the parameters from the Plato system and compared with the EBT film dosimetry and conventional dose computations. EGSnrc based DOSXYZnrc code was used for Monte Carlo simulations. Each $^{192}Ir$ source of the afterloader was approximately modeled as a parallel-piped shape inside the converted CT data set whose voxel size was $2{\times}2{\times}2\;mm^3$. Bracytherapy dose calculations based on the TG-43 showed good agreement with the Monte Carlo results in a homogeneous media whose density was close to water, but there were significant errors in high-density materials. For a patient case, A and B point dose differences were less than 3%, while the mean dose discrepancy was as much as 5%. Conventional dose computation methods might underdose the targets by not accounting for the effects of high-density materials. The proposed platform was shown to be feasible and to have good dose calculation accuracy. One should be careful when confirming the plan using a conventional brachytherapy dose computation method, and moreover, an independent dose verification system as developed in this study might be helpful.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.8 no.4
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• pp.95-109
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• 2013

The practices and processes of HRM (Human Resource Management) for university faculty in Korea depend heavily on assessment of research and teaching rather than the UIC (University-Industry Cooperation) performance. In this regard, HRM of Korean universities is said to be far distant from UIC. Although policy initiatives by the Korean government, notably the MoE (Ministry of Education) have implemented in most universities, the desirable level of UIC could not be achieved yet. Moreover, the very notion of 'university' in Korea is much more to do with 'pure' education and research institution than with 'applied' and 'vocational' purpose. Considering upon HRM practices and organizational culture, for enhancing UIC in Korea, the government's policy should be linked to alter deep-rooted university culture. So the aims of the research are to describe the current state of HRM in Korean and foreign universities; to find out the critical factors of UIC in Korean universities; to analyze the gaps between university research and industrial commercialization based on a conceptual framework, the 'valley of the death'; and to recommend HRM policies fostering UIC for the MoE. For achieving these objectives, we deploy multiple methodologies, namely, in-depth interview, literature survey, and statistical data analysis with regard to UIC. Analyzing the data we have collected, the present research sheds light on all aspects of HRM processes and UICs. And the main policy implication is restricted to the Korean universities, even if we have collected and analyzed foreign universities, notably universities in the USA. The research findings are mainly two folds. Firstly, the HRM practices among Korean universities are very similar due to the legally institutionalized framework and the government's regulations. Secondly, the difficulties of UIC can be explained by notion of the 'valley of death' ways in which both parties of university and industry are looking for different purposes and directions. In order to overcome the gap in the valley of death, the HRM policy is better to be considered as leverage. Finally, the policy recommendations are as follows. Firstly, various kinds of UIC programs are able to enhance the performances of not only UIC, but also education and research outcome. Secondly, fostering organizational climate and culture for UIC, employing various UIC programs, and hiring industry-experienced faculty are all very important for enhancing the high performance of university. We recommend the HRM policies fostering UIC by means of indirect way rather than funding directly for university. The HRM policy of indirect support is more likely to have long-term effectiveness while the government's direct intervention to UIC will have likely short-term effectiveness as the previous policy initiatives have shown. The MEST's policy means of indirect support might vary from financial incentives to the universities practicing HRM for UIC voluntarily, to information disclosure for UIC. The benefits of the present research can be found in suggesting HRM policy for UIC, highlighting the significance of industry-experienced faculty for UIC, and providing statistical analysis and evidences of UIC in Korean universities.

• Korean Journal of Psychosomatic Medicine
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• v.20 no.2
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• pp.127-134
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• 2012

Objectives : Perceived stress scale is a self-report inventory to estimate the degree of individual perceived stress in daily life. The aim of this study was to introduce this scale and test the reliability and validity of the Korean version of PSS. Methods : The total of 154 female hospital workers were included in this study. The survey questionnaires were conducted for demographic information. All participants were required to complete PSS, Hamilton Anxiety scale and Beck Depression Inventory. Reliability and validity studies were conducted and internal consistency was examined. Results : The mean score of the PSS reported in this sample was $20.69{\pm}4.56$. The overall Cronbach's alpha was 0.819, and the test-retest reliability coefficient was 0.66. PSS had a significant positive correlation with the HAM-A(r=0.49, p<0.01), and the BDI(r=0.55, p<0.01). Factor analysis yielded 2 factors with eigenvalues of 3.924 and 2.608, accounting for 65 percent of variance. Factor 1 represented "stress" and factor 2 represented "control of stress". Conclusions : This study indicates that the PSS is appropriate for estimating the perceived stress levels. These results support the use of PSS in large sections of the population in Korea.