• The Korean Journal of Financial Management
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• v.24 no.1
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• pp.29-58
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• 2007

We develop a model to estimate the value of growth opportunities, which is based on the seminal papers of M&M(1961, 1963) and Lee(2006). Making use of the estimation model, we estimate a new proxy variable of the growth opportunities, other than the usual proxy variables such as quasi Tobin's Q, MBR, and so on. The new proxy variable of growth opportunities can represent a necessary condition to identify whether the increase in new investments are successful or not. The empirical findings on the growth opportunities during the IMF currency crisis period and the post-IMF period are as follows; First, the overall success rate of new investments is as low as 50%, that means only half of the listed firms were increasing new investments when they had the growth opportunities. Second, during the crisis, one third of the listed firms were experiencing negative growth opportunities. However, during the post-IMF period, the growth opportunities on new investments were turned to be positive due to the turnaround efforts of listed firms. Third, the value of intangible assets, which are resulting from the investment of R&D and human capital, are becoming more important than ever. It seems to be true that larger portions of the value of growth opportunities are coming from the intangible assets, not from the increases in new investments of the physical assets.

• Journal of Korean Society of Forest Science
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• v.13 no.1
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• pp.79-84
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• 1971

This study is, by correlation and regression analysis, on the correlation between culm height and other growth factors which are circle at eye height and length of internode. The samples were come by in Tamyang district, To sum up, the results are as follows; 1. Two growth factors are much more correlative to culm height; both simple correlation and multiple correlation between the former and the latter are significant. ($r_{yx}=0.91$, $r_{yz}=0.78$, $r_{yx{\cdot}z}=0.84$, $r_{yz{\cdot}x}=0.55$, $R_{y{\cdot}xz}=0.94$) Seeing above significance, circle at eye height is more highly correlative than length of internode. 2. The following regression equation was derived from regression analysis. y= -0.687+0.335x+0.206z. y ; culm height. x ; circle at eye height. z ; length of internode. 3. By testing of the equation, regression coefficients are as follows; ${\beta}{\neq}O$, ${\gamma}{\neq}O$, ${\beta}{\neq}O{\neq}{\gamma}$ 4. The results tested the precision of the empirical formula, standard error of standard error by percentage are as follows. $Sy{\cdot}xz=0.89$, $Sy{\cdot}xz(%)=8.14$.

• Asia pacific journal of information systems
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• v.24 no.2
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• pp.233-253
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• 2014

Can the stock market really be predicted? Stock market prediction has attracted much attention from many fields including business, economics, statistics, and mathematics. Early research on stock market prediction was based on random walk theory (RWT) and the efficient market hypothesis (EMH). According to the EMH, stock market are largely driven by new information rather than present and past prices. Since it is unpredictable, stock market will follow a random walk. Even though these theories, Schumaker [2010] asserted that people keep trying to predict the stock market by using artificial intelligence, statistical estimates, and mathematical models. Mathematical approaches include Percolation Methods, Log-Periodic Oscillations and Wavelet Transforms to model future prices. Examples of artificial intelligence approaches that deals with optimization and machine learning are Genetic Algorithms, Support Vector Machines (SVM) and Neural Networks. Statistical approaches typically predicts the future by using past stock market data. Recently, financial engineers have started to predict the stock prices movement pattern by using the SNS data. SNS is the place where peoples opinions and ideas are freely flow and affect others' beliefs on certain things. Through word-of-mouth in SNS, people share product usage experiences, subjective feelings, and commonly accompanying sentiment or mood with others. An increasing number of empirical analyses of sentiment and mood are based on textual collections of public user generated data on the web. The Opinion mining is one domain of the data mining fields extracting public opinions exposed in SNS by utilizing data mining. There have been many studies on the issues of opinion mining from Web sources such as product reviews, forum posts and blogs. In relation to this literatures, we are trying to understand the effects of SNS exposures of firms on stock prices in Korea. Similarly to Bollen et al. [2011], we empirically analyze the impact of SNS exposures on stock return rates. We use Social Metrics by Daum Soft, an SNS big data analysis company in Korea. Social Metrics provides trends and public opinions in Twitter and blogs by using natural language process and analysis tools. It collects the sentences circulated in the Twitter in real time, and breaks down these sentences into the word units and then extracts keywords. In this study, we classify firms' exposures in SNS into two groups: positive and negative. To test the correlation and causation relationship between SNS exposures and stock price returns, we first collect 252 firms' stock prices and KRX100 index in the Korea Stock Exchange (KRX) from May 25, 2012 to September 1, 2012. We also gather the public attitudes (positive, negative) about these firms from Social Metrics over the same period of time. We conduct regression analysis between stock prices and the number of SNS exposures. Having checked the correlation between the two variables, we perform Granger causality test to see the causation direction between the two variables. The research result is that the number of total SNS exposures is positively related with stock market returns. The number of positive mentions of has also positive relationship with stock market returns. Contrarily, the number of negative mentions has negative relationship with stock market returns, but this relationship is statistically not significant. This means that the impact of positive mentions is statistically bigger than the impact of negative mentions. We also investigate whether the impacts are moderated by industry type and firm's size. We find that the SNS exposures impacts are bigger for IT firms than for non-IT firms, and bigger for small sized firms than for large sized firms. The results of Granger causality test shows change of stock price return is caused by SNS exposures, while the causation of the other way round is not significant. Therefore the correlation relationship between SNS exposures and stock prices has uni-direction causality. The more a firm is exposed in SNS, the more is the stock price likely to increase, while stock price changes may not cause more SNS mentions.

• The Journal of Korean Medicine
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• v.16 no.1 s.29
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• pp.505-530
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• 1995

Recently some people in learned circles of oriental medicine raised a Question about a terminological problem, i.e., 'oriental medical'. This question was thought as an attempt to find out the identity of oriental medicine which exists among the various current medical knowledge systems. In spite of same object, human body, there are diverse medical knowledge systems which has different concepts and theories. This come from the difference of a view of object which defines the experiences of that. The knowledge system of oriental medicine was established by the view of object in oriental medicine which depended on the way of thinking as Yin and Yang. The view of object in oriental medicine has come out in the special cultural soil, namely, the oriental world. Because of this the view of object in oriental medicine cannot be seperated from the oriental world view. What distintive feature does the oriental world view have? It can be summarized as the holistic, dynamical and organic ideas of the world. The term 'oriental medical' is being used to emphasize the characteristic and the peculiarity of the oriental medicine among the various medical knowledge systems. Can the current so called scientific method accept this peculiar and special method of oriental medicine? The efforts of philosophers who had been stimulated by the awful scientific achivements and had tried to find out the unified method penetrating through all the empirical science by mobilizing the logic and mathematics has became out of date for the raise of a question about the inductive method. On the contrary, the theses of theory-laden observation was accepted widely and the relativism was accepted as a new established theory. But the relativism has its own problem. The relativism was founded upon the concept, the incommensurability, which Khun and Feyerabend had proposed. This concept was criticized strongly by some of philosophers because of its own self-refuting. The view of object in oriental medicine has a relative characteristic in the aspect of its urge that in accordance with the perspective a different medical knowledge system can be possible. But our possible choice is the moderate conceptual relativism. Therefore if the view of object in oriental medicine includes the relative aspect, there is the 'conceptual relativity' between the knowledge system of oriental medicine and the western medicine. This preview an important aspect for the standardization and modernizing research of oriental medicine by lending the knowledge of the western medicine. And when we choose the moderate conceptual relativism, it means that we do not support the extreme relativism, that is, 'anything goes'. The concept of truth and rationality cannot be abandoned, and it plays the role of the norm on the knowledge system of oriental medicine and other knowledge systems of medicine in a limited meaning. And the view of object in oriental medicine has an organic view about the human body and the characteristic which wants to interpret the phenomena of human body by using the holistic method. But the availability of this method will be evaluated by the achievements of oriental medicine. Finally what relationship does the theory of oriental medicine have with the world the theory is applied to? It is recognized that the theory of oriental medicine has the instrumental characteristic. But it can be thought the instrumentalism is different from the oriental medical standpoint in the aspect that the instrumentalism seperates the theoretical existence from the observational existence sharply. Because in the oriental thinking way there is no seperation between the mind of observer and the object and no conflict between the idealism and the realism like the western world. For this problem there must be a further study.

• Tuberculosis and Respiratory Diseases
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• v.53 no.5
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• pp.510-518
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• 2002

Background : Bronchial anthracofibrosis (BAF) is a dark black or brown pigmentation of multiple large bronchi associated with a fibrotic stenosis or obliteration that is incidentally found during a diagnostic bronchoscopy some reporters have suggested endobronchial tuberculosis or tuberculous lymphadenitis as a possible cause of BAF. However, some BAF patients do not have any medical history of tuberculosis. The aim of this study was to elucidate the clinical features of simple BAF patients, which were not associated with tuberculosis. Methods : We reviewed the patients' charts retrospectiely and interviewed all BAF patients who were followed up for 1 year or more. Among the 114 BAF patients, 43 patents (38 %) had no associated tuberculosis, cancer and pneumoconiosis. The clinical characteristics, radiological findings and associated pulmonary diseases of these patients were evaluated. Results : Most patients were non-smokers, old aged, housewifes who resided in a farming village. The common respiratory symptoms were dyspnea, cough and hemoptysis. The predominant X-ray findings were a multiple bronchial wall thickening(89%), bronchial narrowing or atelectasis (76%) and a mediastinal lymph node enlargement with/without calcification (78%). Pulmonary function test usually showed mild obstructive ventilatory abnormalities but no patient showed a restrictive ventilatory pattern and the patients were frequently affected with chronic bronchitis(51%), post-obstructive pneumonia(40%) and chronic asthma(4%). Conclusion : Because BAF is frequently associated with chronic bronchitis and obstructive pneumonia as well as tuberculosis, a careful clinical evaluation and accurate differential diagnosis is more essential than empirical anti-tuberculous medication.

• Korean Journal of Remote Sensing
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• v.30 no.1
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• pp.61-73
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• 2014

This study reviewed an application of water quality estimation using an Airborne Hyperspectral Imagery (A-HSI) and tested a part of Han River water quality (especially suspended solid) estimation with available in-situ data. The estimation of water quality was processed two methods. One is using observation data as downwelling radiance to water surface and as scattering and reflectance into water body. Other is linear regression analysis with water quality in-situ measurement and upwelling data as at-sensor radiance (or reflectance). Both methods drive meaningful results of RS estimation. However it has more effects on the auxiliary dataset as water quality in-situ measurement and water body scattering measurement. The test processed a part of Han River located Paldang-dam downstream. We applied linear regression analysis with AISA eagle hyperspectral sensor data and water quality measurement in-situ data. The result of linear regression for a meaningful band combination shows $-24.847+0.013L_{560}$ as 560 nm in radiance (L) with 0.985 R-square. To comparison with Multispectral Imagery (MSI) case, we make simulated Landsat TM by spectral resampling. The regression using MSI shows -55.932 + 33.881 (TM1/TM3) as radiance with 0.968 R-square. Suspended Solid (SS) concentration was about 3.75 mg/l at in-situ data and estimated SS concentration by A-HIS was about 3.65 mg/l, and about 5.85mg/l with MSI with same location. It shows overestimation trends case of estimating using MSI. In order to upgrade value for practical use and to estimate more precisely, it needs that minimizing sun glint effect into whole image, constructing elaborate flight plan considering solar altitude angle, and making good pre-processing and calibration system. We found some limitations and restrictions such as precise atmospheric correction, sample count of water quality measurement, retrieve spectral bands into A-HSI, adequate linear regression model selection, and quantitative calibration/validation method through the literature review and test adopted general methods.

• Archives of design research
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• v.18 no.2 s.60
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• pp.155-164
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• 2005

Home-service robots need to have sufficient spatial information about the surroundings for interacting with human intelligently and performing services efficiently. It is very important to investigate the efficient interaction style that supports map building task through human-robot collaboration. We first analyzed map building task with a cleaning robot and drew 4 design factors and tentative solutions, including map building procedure (task-preferred procedure/space- preferred procedure), LCD display installation (robot/robot+remote control), navigation method (push type/pull type), feedback modality(GUI/GUI+TTS). The design factors and tentative solutions were defined as independent variables and levels. This research investigated how those variables affect to the human task performance and behavior in map building tast. 8 kinds of experiment prototypes were built and usability test among 16 house wives was conducted for acquiring empirical data. As the experiment result, in terms of map building procedure, space-preferred procedure indicated better task performance than task-proffered procedure as we expected. For the LCD display installation factor, remote control with LCD display indicated higher task performance and subjective satisfaction. In robot navigation method, it was very difficult to find a significant difference between push type and pull type which contrary to our expectation. In fact, push type indicated higher subjective satisfaction. Also in feedback modality, we have acquired negative feedback an additional TTS operation guidance. It seems that robot's autonomy before achieving spatial information is rudiment condition which means users are just interacting with a mobile appliance. Thus they prefer remote-control-based interaction style in robot map building process as they used in traditional appliance control.

• Journal of Korean Tunnelling and Underground Space Association
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• v.20 no.3
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• pp.543-560
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• 2018

With the increased development in downtown underground space facilities that vertically cross under a railway at a shallow depth, the demand for non-open cut method is increasing. However, most construction sites still adopt the pipe roof method, where medium and large diameter steel pipes are pressed in to form a roof, enabling excavation of the inside space. Among the many factors that influence the loosening region and loads that occur while pressing in steel pipes, the size of the pipe has the largest impact, and this factor may correspond to the magnitude of load applied to the underground structure inside the steel pipe roof. The super equilibrium method (SEM) has been developed to minimize ground disturbance and loosening load, and uses small diameter pipes of approximately 114 mm instead of conventional medium and large diameter pipes. This small diameter steel pipe is called an SEM pile. After SEM piles are pressed in and the grouting reinforcement is constructed, a crossing structure is pressed in by using a hydraulic jack without ground subsidence or heaving. The SEM pile, which plays the role of timbering, is a fore-poling pile of approximately 5 m length that prevents ground collapse and supports surface load during excavation of toe part. The loosening region should be adequately calculated to estimate the spacing and construction length of the piles and stiffness of members. In this paper, we conducted a comparative analysis of calculations of loosening load that occurs during the press-in of SEM pile to obtain an optimal design of SEM. We analyzed the influence of factors in main theoretical and empirical formulas applied for calculating loosening regions, and carried out FEM analysis to see an appropriate loosening load to the SEM pile. In order to estimate the soil loosening caused by actual SEM-pile indentation and excavation, a steel pipe indentation reduction model test was conducted. Soil subsidence and soil loosening were investigated quantitatively according to soil/steel pipe (H/D).

• Journal of the Korean association of regional geographers
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• v.14 no.3
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• pp.269-278
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• 2008

This research analyzed the effect of lessons with the GIS application as an alternative scheme of teaching and learning of geography in elementary school. Two classes in the third grade at Y elementary school in Andong were selected to conduct lessons on 'The Landscape of My Hometown' from March 6 through June 30, 2006. In the experimental class, the lessons were conducted with the GIS application; while, in a comparative class, the lessons were carried with usual teaching and learning method. To find out the effect of lessons with the GIS application, differences of spatial cognition of students were figured out between groups, and before and after lessons. The difference between the spatial concept development stages and materials on the textbook discouraged students to pursue their learning as well as made them hard to achieve the goals of lessons. The GIS application had been suggested as an alternative teaching and learning method to overcome the difference; however, it has been hard to find any empirical research to verify the effect of the lessons with GIS application in elementary school. The ability of spatial cognition of the third graders at an elementary school was very low as the result of that curricula in the first and second grades dealt with sketch maps as teaching and learning media. The map learning of third grader on the transitional stage would play the critical role to develop the spatial cognition ability in the future. The field study contributing to developing spatial cognition ability would not be conducted at school. It was required to have the alternative learning schemes such as lessons with GIS application. The lessons with GIS application verified effect of GIS application as the alternative method. The GIS application helped students to recognize landmarks, directions and distance effectively as well as reduced the spatial cognition difference among individuals and/or groups.

• Journal of Distribution Science
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• v.9 no.2
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• pp.31-36
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• 2011

I conducted empirical analyses of what happens when an offline channel expands to an online channel and whether the pre-existing offline channel's competitive assets (e.g. brand reputation and level of service satisfaction) can be linked to online channel preference. I found that an offline channel's brand reputation and level of service satisfaction can have a direct influence on offline channel preference and a second-hand influence on online channel preference. Thus, if the competitiveness of the online channel is strong enough and its customers have a higher preference for the offline channel, they will be committed and loyal to the company. The resultant enhanced competitiveness of the offline channel will present opportunities for both present and future success. The main results are the following. First, the management of the distribution channel service quality is more important than that of the brand reputation. Customers' experiences of service and subjective evaluations are not important only as the leading factors in the long-term brand reputation management but also as influential factors in channel preference. SoThus, given that the service quality of the pre-existing channel is not the customers' main concern, a strategy of improving the level of service satisfaction aimed at present customers is more valuable than a wide brand positioning strategy aimed at general and new customers. Second, when an offline channel company establishes an internet shopping mall on an online channel, it is highly likely that the preference and subjective evaluation of the present customers will influence the online channel. This applies not only to the special case of an expansion from an offline intermediary channel to an online one, but also to an online channel acting as an expansion of the business model of a conventional manufacturing or service company: both cases are vertical integrations of marketing channels in an expansion of the distribution channel. My theory applies to a wide range of contexts. Third and finally, any business strategy can grasp the meaning of 'channel expansion. Fundamentally, it is an expansion of the sales activity channel and marketing activity. However, it is also a way of enhancing marketing and sales competitiveness through an expansion to an online or offline channel. The expansion of an offline company to an online channel could be seen not as improvement but as an innovation of the business process by which two goals are achieved with one technique. The former is expected to increase the sales of the offline company, and the latter is also expected to increase sales while also contributing to cost reduction.