• Title/Summary/Keyword: economic management

Search Result 6,879, Processing Time 0.042 seconds

An Economic Analysis of Wildlife Rearing Farmhouses in Korea (Deer, Pheasant, Wild Boar and Fox Rearing Farmhouses) (야생조수(野生鳥獸) 인공사육농가(人工飼育農家)의 경영실태분석(經營實態分析)(사슴, 꿩, 멧돼지와 여우 사육농가(飼育農家)를 중심(中心)으로))

  • Kwak, Kyung Ho;Cho, Eung Hyouk;Kim, Se Bin;Oh, Kyoung Su
    • Korean Journal of Agricultural Science
    • /
    • v.20 no.1
    • /
    • pp.25-33
    • /
    • 1993
  • This study was conducted to obtain necessary informations for improving of wildlife rearing management. The data was gathered by surveying with questionaire. One hundred and eighty farmers which was 60 of deer and pheasant, 30 of wild boar and fox rearing farmers respectively were investigated during the summer in 1992. The results of this study are as follows : 1. Most of managers considered their rearing as a side job but agriculture was appointed as a main job from most of them except wild boar managers. 2. The major cost items were breeding stock and feeding which occupied over than half. 3. The yearly profit was the highest in deer(25.5%) but the lowest in wild boar(10.3%). 4. The break-even point was the highest in wild boar(24 mil. won) but the lowest in pheasant(7.3 mil. won). 5. The optimum sales scale for a year was deer(11 heads), Pheasant(1,027 heads), Wild boar(69 heads) and Fox (102 heads).

  • PDF

WHICH INFORMATION MOVES PRICES: EVIDENCE FROM DAYS WITH DIVIDEND AND EARNINGS ANNOUNCEMENTS AND INSIDER TRADING

  • Kim, Chan-Wung;Lee, Jae-Ha
    • The Korean Journal of Financial Studies
    • /
    • v.3 no.1
    • /
    • pp.233-265
    • /
    • 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.

  • PDF

A Study on contents related to geography in "Myriad Things"(萬物門) of $Miscellaneous$ $Explanations$ $of$ $Seongho$(星湖僿說) (성호사설 '만물문(萬物門)'의 지리 관련내용 고찰)

  • Sohn, Yong-Taek
    • Journal of the Korean Geographical Society
    • /
    • v.47 no.1
    • /
    • pp.60-78
    • /
    • 2012
  • The main objective of this study is to conduct subnational population projections of Korea based on a Myriad Things" (萬物門), which is part of Seongho's representative work entitled $Miscellaneous$ $Explanations$ $of$ $Seongho$ (星湖僿說), has been in this paper in order to understand Seongho's "thinking on geography". To do so, contents related to geography were selected and these were discussed and interpreted in terms of the classification system of today's geographical knowledge. Following is the result of this research. First, information on astronomical geography and natural geography such as uplift, tornado, structure of soil, and the $yut$ board as well as humangeographical topics such as wild $ginseng$, cigarettes, hot pepper, traditional fruits and nuts (chestnuts, jujubes, and persimmons), Goryeo paper (Korean paper), mulberry trees, cotton plants, natural dye, policy about horses, magnetic compass needles, and farming implements for rice transplantation are mentioned in "Myriad Things" in relation to geography. Second, the depth of information described varies from topic to topic, but the topics on tornado and magnetic compass needles, horses, wild ginseng, traditional fruits and nuts, and $yut$ board are described in depth and in detail. Third, authenticity of the contents on these topics are "true" insofar as bibliographical information and citations are provided for support. Fourth, these topics reflect the interests and circumstances that are related to the "economic improvement of common people's livelihood" in those days, such as agriculture, crops, and transportation of goods. Fifth, the bibliography and citations explaining all instances reveal that China (Qing) is a great civilization of the advanced world and that the scholarship of Joseon relied on and accepted it. Sixth, except for horse raising and management, farming implements for rice transplantation, sericulture, and natural dying of cloth, most of the topics are useful even today. In short, theres is a profound aspect to the content that makes it possible to estimate the "geographical thinking". In general, the focus of the content of this book directly linked to the practical agricultural economy of the common people.

  • PDF

Comparative Analysis of ViSCa Platform-based Mobile Payment Service with other Cases (스마트카드 가상화(ViSCa) 플랫폼 기반 모바일 결제 서비스 제안 및 타 사례와의 비교분석)

  • Lee, June-Yeop;Lee, Kyoung-Jun
    • Journal of Intelligence and Information Systems
    • /
    • v.20 no.2
    • /
    • pp.163-178
    • /
    • 2014
  • Following research proposes "Virtualization of Smart Cards (ViSCa)" which is a security system that aims to provide a multi-device platform for the deployment of services that require a strong security protocol, both for the access & authentication and execution of its applications and focuses on analyzing Virtualization of Smart Cards (ViSCa) platform-based mobile payment service by comparing with other similar cases. At the present day, the appearance of new ICT, the diffusion of new user devices (such as smartphones, tablet PC, and so on) and the growth of internet penetration rate are creating many world-shaking services yet in the most of these applications' private information has to be shared, which means that security breaches and illegal access to that information are real threats that have to be solved. Also mobile payment service is, one of the innovative services, has same issues which are real threats for users because mobile payment service sometimes requires user identification, an authentication procedure and confidential data sharing. Thus, an extra layer of security is needed in their communication and execution protocols. The Virtualization of Smart Cards (ViSCa), concept is a holistic approach and centralized management for a security system that pursues to provide a ubiquitous multi-device platform for the arrangement of mobile payment services that demand a powerful security protocol, both for the access & authentication and execution of its applications. In this sense, Virtualization of Smart Cards (ViSCa) offers full interoperability and full access from any user device without any loss of security. The concept prevents possible attacks by third parties, guaranteeing the confidentiality of personal data, bank accounts or private financial information. The Virtualization of Smart Cards (ViSCa) concept is split in two different phases: the execution of the user authentication protocol on the user device and the cloud architecture that executes the secure application. Thus, the secure service access is guaranteed at anytime, anywhere and through any device supporting previously required security mechanisms. The security level is improved by using virtualization technology in the cloud. This virtualization technology is used terminal virtualization to virtualize smart card hardware and thrive to manage virtualized smart cards as a whole, through mobile cloud technology in Virtualization of Smart Cards (ViSCa) platform-based mobile payment service. This entire process is referred to as Smart Card as a Service (SCaaS). Virtualization of Smart Cards (ViSCa) platform-based mobile payment service virtualizes smart card, which is used as payment mean, and loads it in to the mobile cloud. Authentication takes place through application and helps log on to mobile cloud and chooses one of virtualized smart card as a payment method. To decide the scope of the research, which is comparing Virtualization of Smart Cards (ViSCa) platform-based mobile payment service with other similar cases, we categorized the prior researches' mobile payment service groups into distinct feature and service type. Both groups store credit card's data in the mobile device and settle the payment process at the offline market. By the location where the electronic financial transaction information (data) is stored, the groups can be categorized into two main service types. First is "App Method" which loads the data in the server connected to the application. Second "Mobile Card Method" stores its data in the Integrated Circuit (IC) chip, which holds financial transaction data, which is inbuilt in the mobile device secure element (SE). Through prior researches on accept factors of mobile payment service and its market environment, we came up with six key factors of comparative analysis which are economic, generality, security, convenience(ease of use), applicability and efficiency. Within the chosen group, we compared and analyzed the selected cases and Virtualization of Smart Cards (ViSCa) platform-based mobile payment service.

The Prevalence of Metabolic Syndrome and Related Risk Factors Based on the KNHANES V 2010 (제 5기 국민건강영양조사로 추정한 한국 성인의 대사증후군 유병률과 관련 요인)

  • Park, Eunok;Choi, Su Jung;Lee, Hyo Young
    • Journal of agricultural medicine and community health
    • /
    • v.38 no.1
    • /
    • pp.1-13
    • /
    • 2013
  • Objectives: This study is to investigate the prevalence and related factors of metabolic syndrome among Korean adults aged 20 years and above. Methods: From the database of the $5^{th}$ Korea National Health and Nutrition Examination Survey (KNHANES V) conducted in 2010, data of 5,670 adults who responded to all the questionnaires of health interview and had metabolic syndrome in the health examination were included in this analysis. SAS 9.2 was used for statistical analysis with complex sample survey modules and commands. Results: The prevalence rate of metabolic syndrome based on the criteria proposed by International Diabetes Federation (IDF) was 18.8%. The prevalence of metabolic syndrome in each group was: 20.7% of women, 43.1% among elderly over 70 years old, 40.6% of the divorced or the separated, 27.6% of recipients of economic support from the government, 23.6% of people who had alcohol dependency problem, and 43.7% of overweight or obese adults. Independent risk factors based on the multiple logistic regression analysis revealed that prevalence of metabolic syndrome was associated with female (odds ratio 1.59 [95% confidence interval 1.20-2.11]), age (50s 3.95 [2.11-7.37], 60s 5.62 [2.98-10.61], 70s 10.56 [5.25-21.25]), high school education (0.52 [0.37-0.74]), clerk occupation (2.14 [1.27-3.60]), divorced marital status (1.72 [1.15-2.59]), alcohol dependency (1.86 [1.16-2.98]), higher BMI (14.08 [10.60-18.70]). Conclusions: The metabolic syndrome is prevalent among Korean adult population according to IDF criteria. Several demographic characteristics and potentially modifiable factors are associated with metabolic syndrome. Identification of this high-risk group and management of these modifiable factors are warranted to reduce the prevalence of metabolic syndrome.

Dynamic forecasts of bankruptcy with Recurrent Neural Network model (RNN(Recurrent Neural Network)을 이용한 기업부도예측모형에서 회계정보의 동적 변화 연구)

  • Kwon, Hyukkun;Lee, Dongkyu;Shin, Minsoo
    • Journal of Intelligence and Information Systems
    • /
    • v.23 no.3
    • /
    • pp.139-153
    • /
    • 2017
  • Corporate bankruptcy can cause great losses not only to stakeholders but also to many related sectors in society. Through the economic crises, bankruptcy have increased and bankruptcy prediction models have become more and more important. Therefore, corporate bankruptcy has been regarded as one of the major topics of research in business management. Also, many studies in the industry are in progress and important. Previous studies attempted to utilize various methodologies to improve the bankruptcy prediction accuracy and to resolve the overfitting problem, such as Multivariate Discriminant Analysis (MDA), Generalized Linear Model (GLM). These methods are based on statistics. Recently, researchers have used machine learning methodologies such as Support Vector Machine (SVM), Artificial Neural Network (ANN). Furthermore, fuzzy theory and genetic algorithms were used. Because of this change, many of bankruptcy models are developed. Also, performance has been improved. In general, the company's financial and accounting information will change over time. Likewise, the market situation also changes, so there are many difficulties in predicting bankruptcy only with information at a certain point in time. However, even though traditional research has problems that don't take into account the time effect, dynamic model has not been studied much. When we ignore the time effect, we get the biased results. So the static model may not be suitable for predicting bankruptcy. Thus, using the dynamic model, there is a possibility that bankruptcy prediction model is improved. In this paper, we propose RNN (Recurrent Neural Network) which is one of the deep learning methodologies. The RNN learns time series data and the performance is known to be good. Prior to experiment, we selected non-financial firms listed on the KOSPI, KOSDAQ and KONEX markets from 2010 to 2016 for the estimation of the bankruptcy prediction model and the comparison of forecasting performance. In order to prevent a mistake of predicting bankruptcy by using the financial information already reflected in the deterioration of the financial condition of the company, the financial information was collected with a lag of two years, and the default period was defined from January to December of the year. Then we defined the bankruptcy. The bankruptcy we defined is the abolition of the listing due to sluggish earnings. We confirmed abolition of the list at KIND that is corporate stock information website. Then we selected variables at previous papers. The first set of variables are Z-score variables. These variables have become traditional variables in predicting bankruptcy. The second set of variables are dynamic variable set. Finally we selected 240 normal companies and 226 bankrupt companies at the first variable set. Likewise, we selected 229 normal companies and 226 bankrupt companies at the second variable set. We created a model that reflects dynamic changes in time-series financial data and by comparing the suggested model with the analysis of existing bankruptcy predictive models, we found that the suggested model could help to improve the accuracy of bankruptcy predictions. We used financial data in KIS Value (Financial database) and selected Multivariate Discriminant Analysis (MDA), Generalized Linear Model called logistic regression (GLM), Support Vector Machine (SVM), Artificial Neural Network (ANN) model as benchmark. The result of the experiment proved that RNN's performance was better than comparative model. The accuracy of RNN was high in both sets of variables and the Area Under the Curve (AUC) value was also high. Also when we saw the hit-ratio table, the ratio of RNNs that predicted a poor company to be bankrupt was higher than that of other comparative models. However the limitation of this paper is that an overfitting problem occurs during RNN learning. But we expect to be able to solve the overfitting problem by selecting more learning data and appropriate variables. From these result, it is expected that this research will contribute to the development of a bankruptcy prediction by proposing a new dynamic model.

A Study on the Characteristics of Humanistic Landscape in Pyongyang Castle through Pictorial Maps in the Late Joseon Dynasty (조선후기 회화식 고지도를 통해 본 평양성의 인문경관 특성)

  • Kim, Mi-Jung;So, Hyun-Su
    • Journal of the Korean Institute of Traditional Landscape Architecture
    • /
    • v.38 no.2
    • /
    • pp.14-30
    • /
    • 2020
  • This study focuses on the fact that pictorial maps in the late Joseon Dynasty were conceptual diagrams with the place names perceived by the people at the time of their production. In this regard, targeting on five pictorial maps, the humanistic landscape characteristics of Pyongyang, which had cultural identities such as a historically old, commercial, and Pungnyu(appreciation for the arts) city, were derived as follows. First, the historic legitimacy of Pyongyang Castle was represented by ritual and religious facilities. They include 'Dangunjeon' and 'Gijagung' related to the nation founder, 'Munmujeong': the remains of Goguryeo, 'Sajikdan' & 'Pyongyanggangdan': the place of the national rites, Hyanggyo and Seowon: education & rite functions, Buddhism and Taoist facilities, 'Yongsindang', 'Sanshindang', and 'Jesindan': folk religion facilities. Gija-related facilities, which became symbols of Pyongyang due to the importance of Small-Sinocentrism and Gija dignity tendency, were distributed throughout Pyongyang Castle though, the facilities related to King Dongmyeong of Goguryeo and the spaces of religion praying for blessings are spread in Bukseong and on the riverside of Daedonggang each. Second, as a Pyongando Province's economic center, Pyongyang's commercial landscape was represented by logistics and transportation facilities. The Daedonggang River, which was in charge of transportation functions, had many decks such as 'Yangmyeongpo', 'Cheongryongpo' and 'Waeseongjin' and bridges, such as 'Yeongjegyo' and 'Gangdonggyo', which connected major transportation routes. The road network was created in Oeseong area to facilitate logistics transportation and management, and many warehouses named after the jurisdiction of Pyongyangbu were distributed near the roads and Provincial Offices of the main gates. In addition, it was characterized by the urban area systematically divided with hierarchical roads, 'Bukjangnim' of willow trees planted on the main entrance roads of Pyongyang Castle, a linear landscape created by 'Simnijangnim' consisting of mixed forests with elm trees. Third, Pungnyu City is realized by the distribution of amusement facilities. The riverside of Daedonggang adjacent to Naeseong exhibits characteristics of artificial landscape such as a canal leading to the inside of the castle, a docking facility with embankments, and a port with cargo ships anchored. However, Bukseong of the natural surroundings had numerous pavilions and platforms such as 'Bubyeongnu', 'Eulmildae', 'Choeseungdae', 'Jebyeokjeong' and engraved letters such as 'Cheongnyubyeok', 'Jangbangho'. 'Osunjeong', 'Byeogwolji', 'Banwolji' near 'Sachang', and 'Aeryeondang', built on the island of a square pond, created waterscape in Naeseong invisible from the Daedonggang, and for practical purposes, ponds and repeated willow vegetation landscape related to Gija were placed in the western rampart of Jungseong. In addition, 'Seonyeondong', a cemetery of Gisaeng, located near by Chilseongmun, was used as poem titles and themes by literary people, contributing to the creation of the Pungnyu image of Pyongyang.

A Study on Customer Loyalty and Word-of-Mouth Effect according to Character Trait of Patient in Dental Clinics (치과내원환자의 성격특성에 따른 고객충성도 및 구전효과 연구)

  • Yang, Hae-Young
    • Journal of the Korea Academia-Industrial cooperation Society
    • /
    • v.12 no.12
    • /
    • pp.5819-5826
    • /
    • 2011
  • Recently in the dental world, competition in the medical industry has been intensified due to the prolonged economic stagnation, the quantitative expansion of medical institutions, the enhancement of medical consumers'awareness of rights, and the diversity of medical consumer needs. Dental institution management of the difficulties is the requirement for dental institution to ensure competitiveness. So Word-of-Mouth marketing, which creates high marketing effectiveness with low cost, needs to be actively utilized as a new alternative to mass communication marketing. This research is to accurately grasp the target group of dental medical marketing activities through research on the degree of customer loyalty and Word-of-Mouth effects according to character trait of the patients visiting dental clinics, and to present the basic data for Word-of-Mouth marketing strategies from a viewpoint of practical business through presenting Word-of-Mouth promotion factors. To achieve this, questionnaire survey was conducted on 10 dental clinics located in Daegu for 4 weeks from April 11, 2011 to May 6, 2011 and 612 copies of responses to the questionnaires for final data for analysis were obtained. The results of the analysis are as follows. There were no significant differences in the degree of customer loyalty according to character trait of the subjects between the introverts and the extroverts, and the subjects with high market mavens propensity were found to show high degree of customer loyalty (F=5.243, p=.006). In the differences in Word-of-Mouth effectiveness according to character trait, there were greater differences in Word-of-Mouth experiences in the extrovert subjects ($x^2$=6.738, p=.006) and the subjects with high market mavens propensity ($x^2$=17.251, p=.000). The results of this research clarifies the degree of customer loyalty according to character trait of the patients visiting dental clinics and the differentiated influences of Word-of-Mouth effectiveness, and through this, they will become basic data for presenting ways to establish strategies from the viewpoint of practical business that should be considered in establishing dental medical marketing strategies.

The information of the businesses and the protection of information human rights (기업정보화와 정보인권보호)

  • 하우영
    • Proceedings of the Korea Institutes of Information Security and Cryptology Conference
    • /
    • 2003.12a
    • /
    • pp.543-559
    • /
    • 2003
  • The information drive of the businesses requires new alternatives in that the promotion of business efficiency through information process technologies ends up conflicting with the protection of information human rights on laborers’side. Nevertheless, apathy on information protection has a tendency to be distorted by the efficiency of the businesses. Should the capital and mass media warn economic red lights, political circles with uneasiness would ignore the significance of information protection on the behalf of business efficiency. Therefore, the importance of information protection is considered a smaller interest than that of business efficiency with the infringements of human rights on laborers’side arising. Informatization of the businesses along with the developments of information process technologies has enabled the management to monitor and control the behaviors of laborers. This new problem needs to establish both information protection mechanism and institutional devices to regulate those labor controls. The security of business activity without human rights infringement warrants both basic rights of the public and spirit of the Constitution. The study suggests the establishment and revision of laws suitable to the period of information human rights. On top of that, the establishment of the basic law for information protection of individuals’with the common principle that integrates the related laws and rules on-off line is needed. This will warrant the active participation of labor unions and create specific alternatives for information protection.

  • PDF

A Study on the Establishment and Application of Landscape Height Based on View and Topographical Features - Focusing on the Maximum Height Regulation District around Bukhan Mountain National Park - (조망 및 지형특성에 따른 경관고도 도출과 적용 방안 - 북한산 국립공원 인근의 최고고도지구를 중심으로 -)

  • Chang, In-Young;Shin, Ji-Hoon;Cho, Woo-Hyun;Shin, Young-Sun;Kim, Eon-Gyung;Kwon, Yoon-Ku;Im, Seung-Bin
    • Journal of the Korean Institute of Landscape Architecture
    • /
    • v.39 no.1
    • /
    • pp.35-45
    • /
    • 2011
  • The landscape of Seoul was dynamically changed and developed with the rapid post-war economic growth. Seoul city designated a height regulation district to preserve and manage the city landscape and protect it from haphazard construction. The designation of a maximum height regulation district has obvious purpose and simple regulations which makes the implementation and management easy to apply yet the altitude restriction lacks an objective basis for its enforcement. Many studies have been done and the current uniform height regulation requires more objective and logical guidelines. This study selected the Bukhan Mountain area, a National Park designated to protect the environment, to present a new landscape height guideline to minimize environmental degradation and to harmonize the artificial and natural landscapes of the area. Document research was done to identify the regulation types(absolute height regulation, view line regulation, oblique line restriction regulation) and principles for height regulation district establishment, acknowledge the current status and issues of the Bukhan Mountain area's maximum height regulation district. Gangbuk-Gu was chosen as the site and survey was conducted on outstanding view points and view corridors of residents. From document research, an appropriate landscape height guideline was selected and applied to Gangbuk-Gu. According to the guideline, suitable heights for buildings were suggested. These were then applied to three-dimensional simulations and a final guideline was suggested.