• Journal of the Korean Institute of Landscape Architecture
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• v.50 no.6
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• pp.58-69
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• 2022

This study compares and analyses the impacts of holding domestic garden expos that will be fundamental for holding garden expos in the future. Satisfaction with the three sites of the 2013 Suncheon Bay International Gardening Expo, 2015 Seoul Gardening Expo, and 2022 Goyang International Flower Fair, as well as factors affecting the satisfaction in economic, social/cultural, environment/ecology, and operation aspects, were analyzed. As a result of the study, the satisfaction level of all three sites was high, with a value of 3.5 or higher. In particular, satisfaction with the 2013 Suncheon Bay International Gardening Expo was the highest. It was found that there was a difference between the satisfaction level of the 2013 Suncheon Bay International Gardening Expo and the 2015 Seoul Gardening Expo. As a regional festival, the 2013 Suncheon Bay International Garden Expo has acquired a high status due to the 'Suncheon Bay Garden' being designated as the first National Garden. It is thought that great satisfaction was obtained because economic, social, cultural, and environmental revitalization was achieved by matching the values of citizen participation and ecological conservation. As a result of the comparison of perception types affecting the satisfaction by garden fair, satisfaction at the 2013 Suncheon Bay International Gardening Expo and the 2015 Seoul Gardening Expo, it was found that both affected all four aspects. The 2022 Goyang International Flower Fair did not affect satisfaction in the operational aspect. This seems to be because the Goyang International Flower Fair is already a fixed local brand. As a result of analyzing the detailed factors of perception that affect satisfaction, the three target sites were commonly analyzed, including social and cultural factors, which attract cultural events, improve pride and affection for the region, and help educate children. In terms of environmental and ecological factors were analyzed as an inconvenience in life due to traffic congestion. It can be seen that it has the same meaning as the comparative analysis of the difference in factors on the satisfaction of the target site. There is no difference in the effect on satisfaction in terms of social·cultural, and environmental·ecological aspects, but there are differences in terms of economy and operation. Based on the analysis results of this study, to hold a domestic garden expo in the future, it is necessary to properly utilize "environmental" and "ecological" garden aspects that have potential values according to the region's characteristics to develop sustainable, eco-friendly tourism resources. In addition, values will be more apparent when cultural and artistic programs are planned to establish a differentiated identity in the host area and are appropriately used as a marketing means for a local fair. A well-planned local festival through communication with local residents can affect the image of the region and lead to the revitalization of the local communities by securing urban competitiveness along with the establishment of urban brands, so it can be said that local residents' participation and national or local organizations' cooperation is essential.

• Korean Journal of Animal Reproduction
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• v.24 no.4
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• pp.395-406
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• 2000

The present study was conducted to examine the developmental capacity of mouse oocytes within prenatal follicles cultured various concentrations of FSH and LH and the expression of cytochrome P450 cholesterol side-chain cleavage enzyme (P450scc) and cytochrome P450 17 $\alpha$ -hydroxylase (P450)$_{17{\alpha}}$ mRNA, as luteinization and atretic marker, in these culture conditions. In addition, we investigated the concentrations of progesterone and testosterone in culture medium. The developmental potential up to blastocyst of the oocytes grown in vitro was higher in the FSH alone (30.2%) and 10 $m\ell$U/$m\ell$ LH and 100 $m\ell$U/$m\ell$ FSH treated (28.0%) groups than in the 100 $m\ell$U/$m\ell$ LH and 100 $m\ell$U/$m\ell$ FSH treated group (22.0%). And the mean numbers of cell per blastocyst was higher in the FSH alone (50.9$\pm$26.1) and 10 $m\ell$U/$m\ell$ LH and 100 $m\ell$U/$m\ell$ FSH treated (51.0$\pm$21.1) groups when compared to the 100 $m\ell$U/$m\ell$ LH and 100 $m\ell$U/$m\ell$ FSH treated group (45.2$\pm$15.1). The expressions of P450scc and P450$_{17{\alpha}}$ mRNA in the oocyte -cumulus complexes were increased with increasing of LH concentration, and also the secretions of progesterone and testosterone were increased. Especially, in the 100 $m\ell$U/$m\ell$ LH and 100 $m\ell$U/$m\ell$ FSH treated group, the expression of P450scc and P450$_{17{\alpha}}$ were significantly increased, and the secretion of progesterone and testosterone were significantly increased. Therefore, these data show that gonadotrophins are essential for the in vitro culture of preantral follicles, but that increasing of LH concentration is reduced the developmental capacity of oocytes. The cause of these findings may be due to increasing of progesterone and testosterone secretion by the enhance of P450scc and P450$_{17{\alpha}}$ mRNA expressions, as markers of luteinization and atresia. Conclusively, this study suggest that supplementation of 100 $m\ell$U/$m\ell$ FSH or 10 $m\ell$U/$m\ell$ LH and 100 $m\ell$U/$m\ell$ FSH may be optimal condition for the culture of mouse pre antral follicles.

• Asia Marketing Journal
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• v.12 no.2
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• pp.27-52
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• 2010

It is not new that today's business organizations are expected to exhibit ethical and moral management and to carry out social responsibility as a good corporate citizen. Since South Korea emerged as a newly industrialized country during the 1980s, Korean corporations have become active in carrying out their social responsibility as a good corporate citizen to society. In spite of the short history of corporate social responsibility, Korean companies have actively participated in corporate philanthropy. Corporations' significant donations to various social causes, no-lay-off policies, corporate volunteerism and green marketing are evidences of their commitment to corporate citizenship. Corporate social responsibility is now an essential management practice whereby corporation can strengthen its sustainable value creation processes by enhancing the trust assets underlying the relationships between the business and the stakeholders. Much of the conceptual work in the area of corporate social responsibility(CSR) has originated from researches conducted in the management field. Carroll(1979) proposed that corporations have four types of social responsibilities: economic, legal, ethical and philanthropic responsibility. Most past research has investigated CSR and its impact on consumers' attitudes toward the corporations and corporate performances. Although there exists a large body of literature on how consumers perceive and respond to CSR, the majority of past studies were conducted in the United States. The stability and applicability of past findings need to be tested across different national/cultural settings, especially since corporate social responsibility is a reflection of implicit conformation with the expectations and criticism that society may have toward a corporation(Matten and Moon, 2004). In this study, we explored whether people in Korea perceive CSR of Korean corporations in the same four dimensions as done in the United States and what were the measurement items tapping each of these four dimensions. In order to investigate the dimensions of CSR and the measurement items for CSR perceived by Korean people, nine focus group interviews were conducted with several stakeholder groups(two with undergraduate students, two with graduate students, three with general consumers, and two with NGO groups). Scripts from the interviews revealed that the Korean stakeholders perceived four types of CSR which are the same as those proposed by Carroll(1979). However we found CSR issues unique to Korean corporations. For example for the economic responsibility, Korean people mentioned that the corporation needed to contribute to the economic development of the country by generating corporate profits. For the legal responsibility, Koreans included the "corporation need to follow the consumer protection law." For the ethical responsibility, they considered that the corporation needed to not promote false advertisement. In addition, Koreans thought that an ethical company should do transparent management. For the philanthropic responsibility, people in Korea thought that a corporation needed to return parts of its profits to the society for the betterment of society. The 28 items were developed based on the results of the nine focus group interviews, while considering the scale developed by Maignan and Ferrell(2001). Following the procedure proposed by Churchill(1979), we started by developing an item poll consisting of 28 items and purified the initial pool of items through exploratory, confirmatory factor analyses. 176 samples were sued for this analysis. Confirmatory factor analysis was performed on the 28 items in order to verify the underlying four factor structure. Study 1 provided new measurement items for tapping the Korean CSR dimensions, which can be useful for the future studies exploring the effects of CSR on Korean consumers' attitudes toward the corporations and corporate performances. And we found the CSR scale(17 items) has good reliability, discriminant validity and nomological validity. Economic Responsibility: "XYZ company continuously improves the quality of our products", "XYZ company has a procedure in place to respond to customer complaint", "XYZ company contributes to the economic development of our country by generating profits", "XYZ company is eager to hire people". Legal Responsibility: "XYZ company's products meet legal standards", "XYZ company seeks to comply with all laws regulating hiring and employee benefits", "XYZ company honors contractual obligations to its suppliers", "XYZ company's managers try to comply with the law related to the business operation". Ethical Responsibility: "XYZ company has a comprehensive code of conduct", "XYZ company does not promote a false or misleading advertisement", "XYZ company seems to conduct a transparent business", "XYZ company does a fair business with its suppliers or sub-contractors". Philanthropic Responsibility: "XYZ company encourages partnerships with local businesses and schools", "XYZ company supports sports and cultural activities", "XYZ company gives adequate contributions to charities considering its business size", "XYZ company encourages employees to support our community". Study 2 was condusted for comprehensive validity. 655 samples were used for this anlysis. Collected samples were tested by factor analysis and Crnbach's Alpha coefficiednts and were found to be satisfactory in terms of validity and reliability. Furthermore, fitness of the measurement model was tested by using conformatory factor analysis. χ²=880.73(df=160), GFI=0.891, AGFI=0.854, NFI=0.908, NNFI=0.913, RMR=0.059, RMESA=0.070. We hope that CSR scale could greatly facilitate research on Corporate social resposibility, it is by no means the final answer.

• Korean Journal of Heritage: History & Science
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• v.56 no.4
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• pp.230-246
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• 2023

The wooden fence(木柵), which began to appear in the Bronze Age and is presumed to be the oldest defense facility in human history, was used as a fortress for the purpose of further strengthening military defense functions until after the Japanese Invasion of Korea in 1592 in the Joseon Dynasty(壬辰倭亂). As it was established as the concept of a fortress or a fence installed outside a fence castle(城柵) or barracks fence(營柵), its importance as an essential facility for defense was further highlighted. This study is the result of exploring wooden fence that were used as official facilities during the Joseon Dynasty, focusing on literature surveys such as 『Annals of the Joseon Dynasty』 and 『New Jeungdonggukyeojiseungram』 In this study, in particular, the conclusion of this study is as follows, focusing on the use and function of Nokgakseong(鹿角城), underwater wooden fence, installation methods, and materials of wooden fences, is as follows. The conclusions of this study, which focused on the materials of the wooden fence, are as follows. First, as invasions by foreign enemies became more frequent in the late Goryeo and early Joseon Dynasty, wooden fences played a major role as a major out-of-castle defense facility((防禦施設). In addition, wooden fences were modified and installed into various types such as wooden fences(木柵城), Nokgakseong, a fence made up of large branches in the shape of a deer antler, and underwater wooden fences(水中木柵) according to the circumstances of the times, government policy, and location environment. Second, wooden fences were installed in strategic locations in defense facilities for military purposes, such as mountain fortress(山城), fortresses(營), camps(鎭), forts(堡), and castles(邑城) in strategic locations, and were used for defense in case of emergency. According to the urgency of farming, it was installed in accordance with the non-farming season, when it is easy to mobilize manpower to avoid the busy farming season. The size of the wooden fence of the Joseon Dynasty, which are confirmed through literature records, was converted into Pobaekchuk(布帛尺), and the circumference was very diverse from 4,428chuk(2,066m) to 55chuk(25m). Third, Nokgakseong is an efficient combat support facility that is more aggressive than a general wooden fence, and the records of Nokgakseong in the Annals of the Joseon Dynasty appeared during the King Sejong period the record was 20 times, the most. By region, it was found that it was mainly installed in coastal rugged areas such as Pyeongan and Hamgildo(12), which are the 6-jin areas of the 4th Army. Fourth, in the early 15th century, as the royal court established a maritime defense strategy for the coastal area of the southern coast, after the Sampo Invasion(三浦倭亂), riots by Japanese settlers in Sampo in 1510, major military posts including eupseong(邑城), camps, and forts were established. The installation of underwater barriers around various government facilities rapidly increased as a defense facility to block the warships of Japanese pirates around various government facilities. Fifth, between the 15th and 17th centuries before and after the Japanese Invasion of Korea in Sampo, underwater fences were installed in the Southern coast and Ganghwa Island. In particular, in the 15th century, underwater fences were intensively installed in coastal areas of Gyeongsangnam-do, such as Jepo. Pine trees and Oaks are the main materials used for underwater fences, but other materials such as Oldham's meliosma, Loose-flower hornbeam and The vines of arrowroots were also used as materials for wooden fences.

• Korean Journal of Remote Sensing
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• v.39 no.6_2
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• pp.1565-1576
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• 2023

An atmospheric correction algorithm based on the radiative transfer model is required to obtain remote-sensing reflectance (R_rs) from the Geostationary Ocean Color Imager-II (GOCI-II) observed at the top-of-atmosphere. This R_rs derived from the atmospheric correction is utilized to estimate various marine environmental parameters such as chlorophyll-a concentration, total suspended materials concentration, and absorption of dissolved organic matter. Therefore, an atmospheric correction is a fundamental algorithm as it significantly impacts the reliability of all other color products. However, in clear waters, for example, atmospheric path radiance exceeds more than ten times higher than the water-leaving radiance in the blue wavelengths. This implies atmospheric correction is a highly error-sensitive process with a 1% error in estimating atmospheric radiance in the atmospheric correction process can cause more than 10% errors. Therefore, the quality assessment of R_rs after the atmospheric correction is essential for ensuring reliable ocean environment analysis using ocean color satellite data. In this study, a Quality Assurance (QA) algorithm based on in-situ R_rs data, which has been archived into a database using Sea-viewing Wide Field-of-view Sensor (SeaWiFS) Bio-optical Archive and Storage System (SeaBASS), was applied and modified to consider the different spectral characteristics of GOCI-II. This method is officially employed in the National Oceanic and Atmospheric Administration (NOAA)'s ocean color satellite data processing system. It provides quality analysis scores for R_rs ranging from 0 to 1 and classifies the water types into 23 categories. When the QA algorithm is applied to the initial phase of GOCI-II data with less calibration, it shows the highest frequency at a relatively low score of 0.625. However, when the algorithm is applied to the improved GOCI-II atmospheric correction results with updated calibrations, it shows the highest frequency at a higher score of 0.875 compared to the previous results. The water types analysis using the QA algorithm indicated that parts of the East Sea, South Sea, and the Northwest Pacific Ocean are primarily characterized as relatively clear case-I waters, while the coastal areas of the Yellow Sea and the East China Sea are mainly classified as highly turbid case-II waters. We expect that the QA algorithm will support GOCI-II users in terms of not only statistically identifying R_rs resulted with significant errors but also more reliable calibration with quality assured data. The algorithm will be included in the level-2 flag data provided with GOCI-II atmospheric correction.

• Journal of the Korean Institute of Traditional Landscape Architecture
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• v.41 no.3
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• pp.59-66
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• 2023

This study attempts to examine the process of establishing a Japanese-style garden in the modern period through the perspectives of garden designers, spatial composition, spatial components, and materials used in their works, and to use it as data for embodying the identity of Korean garden. The results are as follows: First, by incorporating elements associated with Koreanness into the modern garden culture, there are differences in location, presence, and subjectivity when compared to Japan. This reflects Japan's relatively seamless cultural continuity compared to Korea's cultural disconnection during the modern period. Second, prior to the modern period, Japan's garden culture spread and continued to develop throughout the country without significant interruptions. However, during the modern period, the Meiji government promoted the policy of 'civilization and enlightenment (Bunmei-kaika, 文明開化)' and introduced advanced European and American civilizations, leading to the popularity of Western-style architectural techniques. Unfortunately, the rapid introduction of Western culture caused the traditional Japanese culture to be overshadowed. In 1879, British architect Josiah Condor guided Japanese architects and introduced atelier and traditional designs of Japanese gardens into the design. The garden style of Ogawa Jihei VII, a garden designer in Kyoto during the Meiji and Taisho periods, was accepted by influential political and business leaders who sought to preserve Japan's traditional culture. And a protection system of garden was established through the preparation of various laws and regulations. Third, as a comprehensive analysis of Japanese modern gardens, the examination of garden designers, Japanese components, materials, elements, and the Japanese-style showed that Yamagata Aritomo, Ogawa Jihei VII, and Mirei Shigemori were representative garden designers who preserved the Japanese-style in their gardens. They introduced features such as the creation of a Daejicheon(大池泉) garden, which involves a large pond on a spacious land, as well as the naturalistic borrowed scenery method and water flow. Key components of Japanese-style gardens include the use of turf, winding garden paths, and the variation of plant species. Fourth, an analysis of the Japanese-style elements in the target sites revealed that the use of flowing water had the highest occurrence at 47.06% among the individual elements of spatial composition. Daejicheon and naturalistic borrowed scenery were also shown. The use of turf and winding paths were at 65.88% and 78.82%, respectively. The alteration of tree species was relatively less common at 28.24% compared to the application of turf or winding paths. Fifth, it is essential to discover more gardens from the modern period and meticulously document the creators or owners of the gardens, the spatial composition, spatial components, and materials used. This information will be invaluable in uncovering the identity of our own gardens. This study was conducted based on the analysis of the process of establishing the Japanese-style during Japan's modern period, utilizing examples of garden designers and gardens. While this study has limitations, such as the absence of in-depth research and more case studies or specific techniques, it sets the stage for future exploration.

• Journal of Venture Innovation
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• v.7 no.2
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• pp.77-99
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• 2024

Small and medium-sized venture companies and small business owners play an important role in the Korean economy. According to the Ministry of SMEs and Startups' statistics survey in 2019, the proportion of all employees of small and medium-sized venture companies in Korea was 89.8%, which is overwhelmingly higher than that of Japan's 77.8% and Taiwan's 76.6%, so job creation for small and medium-sized venture companies in Korea is absolute. Compared to large companies, it is known that it is difficult for small and medium-sized venture companies in Korea to secure a competitive advantage due to low cost competitiveness, difficulties in R&D/marketing due to lack of capital, difficulties in securing networks, and lack of management know-how. Many scholars, including Kerr and Schumpeter, have studied entrepreneurship since the mid-1950s. Recently, research has been conducted in various fields such as business administration, psychology, and economics. However, research on the personal characteristics of CEOs of small and medium-sized venture companies such as entrepreneurial passion and corporate reputation, which is the overall image of companies, is still insufficient, and comparisons of effects between variables between groups (by industry, by pressure, etc.) have not yet been presented. Entrepreneurial passion plays an important role in promoting new business creation, job creation, and economic growth. Therefore, entrepreneurial Cultivating and promoting passion will also contribute to socioeconomic development. These are government policies, educational programs, and social awareness It can be achieved through improvement, etc., and is especially important in the current market conditions where innovation and growth are important. In conclusion Entrepreneurial passion is an important factor that has a positive effect on all individuals, businesses, and society. Therefore, research on entrepreneurial passion is It is an essential task to maximize these positive effects. In this study, in order to overcome the limitations of existing studies, entrepreneurs' Whether entrepreneurial passion, which is a personal characteristic, affects competitive advantage, absorption capacity and product and process innovation capabilities are Whether there is a mediating effect between entrepreneurial passion and competitive advantage. Finally, in the relationship between entrepreneurial passion and absorption capacity. The corporate reputation verifies whether it has a moderating effect, etc., and compares the influencing factors between variables by industry and pressure. It is intended to be verified empirically. In this study, 2023 conducted by the Small and Medium Business Distribution Center under the Ministry of SMEs and Startups for 312 CEOs of small and medium-sized venture companies and small business owners who participated in the online market support project for small and medium-sized venture companies and small business owners, December 2023 Survey and analysis were conducted from 1st to 20th, and the analysis used Smart PLS 4.0 to determine the impact on the relationship between variables. It was empirically verified. As a result of the study, it was found that entrepreneurial passion had a positive effect on absorption capacity, and the product was found And it was found to have a positive effect on process innovation capability and competitive advantage. In addition, the higher the corporate reputation, the more entrepreneurial it is. It was confirmed that passion had a greater effect on absorption capacity.

• Journal of Embryo Transfer
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• v.29 no.1
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• pp.73-81
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• 2014

The in vitro production of porcine embryos was essential to increase of blastocyst development rate and select of high quality blastocyst in early stage. There were a lot of reports about in vitro porcine embryo development, but there was no report about the selection of high quality embryos. Therefore, in this study, we investigated the effect of vitamin $K_1$ (vit $K_1$) on the development and survival rate of porcine in vitro fertilized embryos. When vit $K_1$ was treated for 24 hr at day 1 in vitro culture, blastocyst development rate in the control group ($35.5{\pm}3.2%$) was significantly lower compared to $1.0{\mu}M$, $3.0{\mu}M$, or $6.0{\mu}M$ groups ($14.5{\pm}4.3$, 0.0, or 0.0%; p<0.05). The survival rates of blastocysts at day 8 in $1.0{\mu}M$, $3.0{\mu}M$ or $6.0{\mu}M$ of vit $K_1$ treated groups ($22.2{\pm}2.9$, 0.0 or 0.0%) were significantly lower than that of the control group ($31.8{\pm}2.6%$; p<0.05). We were added at $1.0{\mu}M$, $3.0{\mu}M$ or $6.0{\mu}M$ vit $K_1$ for different durations of time at day 1 in vitro culture. The development rate and survival rate in the group of $1.0{\mu}M$ vit $K_1$ for 6 hr was $26.5{\pm}2.9%$ and $47.2{\pm}2.8%$, respectively, which were differed significantly in the group of 12 hr (p<0.05). In the group of $3.0{\mu}M$ vit $K_1$, the blastocyst development in control group was $36.4{\pm}3.1%$ but, the survival rate $41.7{\pm}3.2%$ in the group of 3.0 hr was significantly higher than that of the control group (p<0.05). In the group of $6.0{\mu}M$ vit $K_1$, the control group's the blastocyst development was $32.0{\pm}2.8%$ and the 0.5 hr supplement group's survival rates was $42.9{\pm}1.8%$ higher than other groups. We added vit $K_1$ at day 1, day 2, day 4 and day 6 of in vitro culture, on the based the results of supplemented concentration and duration. In the group of $1.0{\mu}M$ 6.0 hr addition, the blastocyst development rate of day 4 and the survival rate of day 2 were the highest in each group. In the groups of $3.0{\mu}M$ 3.0 hr addition or $6.0{\mu}M$ 0.5 hr addition, the blastocyst development ($59.5{\pm}4.1%$ and $50.0{\pm}3.6%$) and survival rates ($72.7{\pm}5.4%$ and $79.2{\pm}4.0%$) on day 4 were significantly higher than that of control and other experiment groups (p<0.05). Meanwhile, the number of cells in blastocysts that produced by vit $K_1$ supplementation was $53.4{\pm}5.8$, $49.4{\pm}3.8$ and $51.5{\pm}4.5$ respectively, which were significantly higher than that of $40.2{\pm}2.3$ in the control group (p<0.05). There was no difference of the number of apoptotic cells between control and experiment groups. In addition, gene expression of survival blastocyst, the Bax mRNA expression was similar between the control and the experiment groups. However, Bcl-xL mRNA expression's in the group of $6.0{\mu}M$ 0.5 hr on day 4 was highest among control and experiment groups (p<0.05). In this study suggested that the control of concentration, duration and time was effective on the survival and cell number of porcine blastocyst derived from in vitro. We are not know what the exact reasons of the effect of vit $K_1$ on embryo development and need to fur ther study. However, vit $K_1$ might be using the selection of high quality porcine blastocyst.

• Journal of Intelligence and Information Systems
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• v.23 no.2
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• pp.107-122
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• 2017

Volatility in the stock market returns is a measure of investment risk. It plays a central role in portfolio optimization, asset pricing and risk management as well as most theoretical financial models. Engle(1982) presented a pioneering paper on the stock market volatility that explains the time-variant characteristics embedded in the stock market return volatility. His model, Autoregressive Conditional Heteroscedasticity (ARCH), was generalized by Bollerslev(1986) as GARCH models. Empirical studies have shown that GARCH models describes well the fat-tailed return distributions and volatility clustering phenomenon appearing in stock prices. The parameters of the GARCH models are generally estimated by the maximum likelihood estimation (MLE) based on the standard normal density. But, since 1987 Black Monday, the stock market prices have become very complex and shown a lot of noisy terms. Recent studies start to apply artificial intelligent approach in estimating the GARCH parameters as a substitute for the MLE. The paper presents SVR-based GARCH process and compares with MLE-based GARCH process to estimate the parameters of GARCH models which are known to well forecast stock market volatility. Kernel functions used in SVR estimation process are linear, polynomial and radial. We analyzed the suggested models with KOSPI 200 Index. This index is constituted by 200 blue chip stocks listed in the Korea Exchange. We sampled KOSPI 200 daily closing values from 2010 to 2015. Sample observations are 1487 days. We used 1187 days to train the suggested GARCH models and the remaining 300 days were used as testing data. First, symmetric and asymmetric GARCH models are estimated by MLE. We forecasted KOSPI 200 Index return volatility and the statistical metric MSE shows better results for the asymmetric GARCH models such as E-GARCH or GJR-GARCH. This is consistent with the documented non-normal return distribution characteristics with fat-tail and leptokurtosis. Compared with MLE estimation process, SVR-based GARCH models outperform the MLE methodology in KOSPI 200 Index return volatility forecasting. Polynomial kernel function shows exceptionally lower forecasting accuracy. We suggested Intelligent Volatility Trading System (IVTS) that utilizes the forecasted volatility results. IVTS entry rules are as follows. If forecasted tomorrow volatility will increase then buy volatility today. If forecasted tomorrow volatility will decrease then sell volatility today. If forecasted volatility direction does not change we hold the existing buy or sell positions. IVTS is assumed to buy and sell historical volatility values. This is somewhat unreal because we cannot trade historical volatility values themselves. But our simulation results are meaningful since the Korea Exchange introduced volatility futures contract that traders can trade since November 2014. The trading systems with SVR-based GARCH models show higher returns than MLE-based GARCH in the testing period. And trading profitable percentages of MLE-based GARCH IVTS models range from 47.5% to 50.0%, trading profitable percentages of SVR-based GARCH IVTS models range from 51.8% to 59.7%. MLE-based symmetric S-GARCH shows +150.2% return and SVR-based symmetric S-GARCH shows +526.4% return. MLE-based asymmetric E-GARCH shows -72% return and SVR-based asymmetric E-GARCH shows +245.6% return. MLE-based asymmetric GJR-GARCH shows -98.7% return and SVR-based asymmetric GJR-GARCH shows +126.3% return. Linear kernel function shows higher trading returns than radial kernel function. Best performance of SVR-based IVTS is +526.4% and that of MLE-based IVTS is +150.2%. SVR-based GARCH IVTS shows higher trading frequency. This study has some limitations. Our models are solely based on SVR. Other artificial intelligence models are needed to search for better performance. We do not consider costs incurred in the trading process including brokerage commissions and slippage costs. IVTS trading performance is unreal since we use historical volatility values as trading objects. The exact forecasting of stock market volatility is essential in the real trading as well as asset pricing models. Further studies on other machine learning-based GARCH models can give better information for the stock market investors.

• The Korean Journal of Pharmacology
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• v.25 no.1
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• pp.115-134
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• 1989

Combined effects of ganciclovir (GCV) and vidarabine (ara-A) on the replication, DNA synthesis, and gene expression of wild type-1 herpes simplex virus (HSV-1) and three acyclovir (ACV)-resistant HSV-1 mutants were studied. These mutants include a virus expressing no thymidine kinase $(ACV^r)$, a virus expressing thymidine kinase with altered substrate specificity $(IUdR^r)$, and a mutant expressing altered DNA polymerase $(PAA^r5)$. GCV, an agent activated by herpesvirus specific thymidine kinase, showed potent antiviral activity against the wild type HSV-1(KOS) and DNA polymerase mutant $(PAA^r5)$. The ACV-resistant mutants with thymidine kinase gene $(ACV^r\;and\;IUdR^r)$ were resistant to GCV. All tested wild type HSV-1 or ACV-resistant HSV-1 mutants did not display resistance to vidarabine (are-A). Combined GCV and ara-A showed potentiating synergistic antiviral activity against wild type KOS and $PAA^r5$, and showed subadditive combnined ativiral activity against thymidine kinase mutants. Combined GCV and ara-A more significantly inhibited the viral DNA synthesis in wild type KOS and $PAA^r5-infected$ cells to a greater extent than either agent alone, but the synergism was not determined in $ACV^r$ or $IUdR^r-infected$ cells. These data clearly indicate that combined GCV and ara-A therapy might be useful for the treatment of infections caused by wild type HSV-1 or ACV-resistant HSV-1 with DNA polymerase mutation. ACV-resistant viruses with the mutation in thymidine kinase gene are also, resistant to GCV, but susecptible to ara-A, indicating that ara-A would the drug of choice for the treatment of ACV-resistant HSV-1 which does not express thymidine kinase or expresses thymidine kinase with altered substrate specificity. While the synthesis of viral ${\alpha}-proteins$ of wild type HSV-1 was not affected by ACV, GCV, ara-A, or combined GCV and ara-A, the synthesis of ${\beta}-proteins$ was slightly but significantly increased at the later stage of viral infection by the antiviral agents. The synthesis of ${\gamma}-proteins$ of wild type HSV- 1 was significantly inhibited by ACV, GCV, ara-A, and combined GCV and ara-A. Combined GCV $(5-{\mu}M)$ and ara-A $(100-{\mu}M)$ also significantly altered the expression of viral ${\beta}-and$ ${\gamma}-proteins$, of which efffct was similar to that of GCV $(10-{\mu}M)$ alone. Although ACV at the concentration of $10-{\mu}M$ did not alter the expression of ${\alpha}-$, ${\beta}-$, and ${\gamma}-proteins$ of ACV-resistant $PAA^r5$, GCV and ara-A significantly alter the epression of ${\beta}-and$ ${\gamma}-proteins$, not ${\alpha}-protein$, as same manner as they altered the expression of those proteins in cells inffcted with wild type HSV-1. Combined GCV $(5-{\mu}M)$ and ara-A $(100-{\mu}M)$ altered the expression ${\beta}-and$ ${\gamma}-proteins$ in $PAA^r5$ infected cells, and the effect of combined regimen was comparable of that of GCV $(10-{\mu}M)$. These data indicate that the alteration in the expression of ${\beta}-and$ ${\gamma}-proteins$ in wild type HSV-1 or $PAA^r5$ infected cells could be more significantly affected by combined GCV and are-A than individual GCV or ara-A. In view of the fact that (a) viral ${\alpha}-$, ${\beta}-$, and ${\gamma}-proteins$ are synthesized in a cascade manner; (b) ${\beta}-proteins$ are essential for the synthesis of viral DNA; (c) the synthesis of ${\beta}-proteins$ are inhibited by ${\gamma}-proteins$; and (d) most ${\gamma}-proteins$ are made from the newly synthesized progeny virus, it is suggested that GCV and ara-A, alone or in combination, primarily inhibit the synthesis of viral DNA, and by doing so might exhibit their antiherpetic activity. The alteration in viral protein synthesis in the presence of tested antiviral agents could result from the alteration in viral DNA synthesis. From the present study, it can be concluded that (a) combined GCV and ara-A therapy would be beneficial for the control of inffctions caused by wild type HSV-1 or ACV-resistant DNA polymerase mutants; (b) the combined synergistic activity of GCV and ara-A is due to further decrease in the viral DNA by the combined regimen; (c) ara-A is the drug of choice for the infection caused by ACV-resistant HSV-1 with thymidine kinase mutation; and (d) the alteration in viral protein synthesis by GCV and ars-A, alone or in combination, is mostly due to the decreased synthesis of viral DAN.