• The Journal of Asian Finance, Economics and Business
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• 제7권9호
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• pp.39-49
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• 2020

This study empirically examines herd behavior for fast moving consumer goods (FMCG) sector stocks under varied market return conditions and the period during the global financial crisis and its aftermath. We examine the sample of stocks trading on the Nifty FMCG Index of the Indian equity market from January 2008 up to December 2018 using the dispersion measure of cross sectional absolute deviation and examine its relationship with the market return to explore herd phenomenon. Quantile regression estimate is used and the results of the study validate rational asset pricing models as the sector does not display herding. In contrast, anti-herd behavior at lower and median quantile values is observed. A possible reason can be the non-cyclical nature of the industry where investors rely more on the fundamentals rather than crowd chasing. We also findthe absence of herd phenomenon during the market asymmetries of bull and bear phases, extreme movements, the period of the global financial crisis, and afterward. We further examine herding under the impact of the information technology (IT) industry and conclude that significant return movements in IT sector impact dispersions in the FMCG industry. Also, there is a co-varying risk between the two sectors confirming the spillover in an integrated market.

• Structural Engineering and Mechanics
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• 제21권6호
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• pp.677-698
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• 2005

In engineering practice, tubular connections are usually assumed pinned or rigid. Recent research showed that tubular joints may exhibit non-rigid behavior under axial or bending loads. This paper is concerned with establishing a new classification for tubular joints and investigating the effect of joint rigidity on the global behavior of CHS (Circular Hollow Section) lattice girders. Parametric formulae for predicting tubular joint rigidities are proposed, which are based on the finite element analyses through systematic variation of the main geometric parameters. Comparison with test results proves the reliability of these formulae. By considering the deformation patterns of respective parts of Vierendeel lattice girders, the boundary between rigid and semirigid tubular connections is built in terms of joint bending rigidity. In order to include characteristics of joint rigidity in the global structural analysis, a type of semirigid element which can effectively reflect the interaction of two braces in K joints is introduced and validated. The numerical example of a Warren lattice girder with different joint models shows the great effect of tubular joint rigidities on the internal forces, deformation and secondary stresses.

• The Journal of Asian Finance, Economics and Business
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• 제8권12호
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• pp.117-127
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• 2021

This study was conducted to comprehensively identify factors that potentially influence corporate investment behavior, including micro, macro, and sectoral variables. Furthermore, investment behavior was studied across nations based on their participation in the global value chain (GVC), which was evaluated based on commodities, limited manufacturing, advanced manufacturing, and innovative activities. The study uses the dynamic panel data analysis and Generalized Method of Moment (GMM) estimation for a sample of 800 corporations, with data spanning over 2000-2019. The study result shows that in all types of countries, the coefficient lag indicator of capital expenditure statistically has a significant effect on capital expenditure. Sales growth, exchange rate, and GDP have a significant positive effect on corporate investment growth, while DER has a negative effect. In commodity countries, corporate investment is influenced by sales growth, exchange rate, and FCI. The variables that influence corporate investment in manufacturing countries are the FCI, exchange rate, sales growth, GDP, and DER. In innovative countries, variables that significantly affect capital expenditure are DER, GDP, and Tobin Q. In each type of country, the interaction terms between exchange rate and commodity price are positive and statistically significant.

• 국제지역연구
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• 제20권1호
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• pp.79-104
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• 2016

본 논문에서는 2007~2008년 및 2010~2012년의 글로벌 금융위기 기간에 외국인 투자자의 아시아 신흥국 주식시장에 대한 투자행태를 살펴보고, 주가 수익률 및 변동성 측면에서 외국인 투자자가 아시아 신흥국 주식시장에 미치는 영향을 분석하였다. 분석결과 아시아 신흥국가에서 글로벌 금융위기 기간에 외국인 투자자들은 양(+)의 피드백 거래를 나타내었다. 그리고 전 아시아 신흥국가 샘플에서 수익률 상승기보다는 하락기에 시장의 변동성이 더욱 증가하는 비대칭성을 보였다. 또한 금융위기 기간의 외국인 투자자의 순매도 행위는 대부분의 국가에서 시장의 변동성을 유의적으로 증가시킨 것으로 나타났다. 따라서 글로벌 금융위기 기간에 외국인 주식 투자자는 아시아 신흥국에서 양(+)의 피드백 거래 행태를 보였고 외국인 투자자의 매도 행위는 수익률을 하락시키고 시장의 변동성을 증대시키는 유의적 작용을 했다는 함의를 제공한다.

• Journal of Information Processing Systems
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• 제16권3호
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• pp.612-628
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• 2020

This paper presents a new approach for detecting abnormal behaviors in complex surveillance scenes where anomalies are subtle and difficult to distinguish due to the intricate correlations among multiple objects' behaviors. Specifically, a cascaded probabilistic topic model was put forward for learning the spatial context of local behavior and the temporal context of global behavior in two different stages. In the first stage of topic modeling, unlike the existing approaches using either optical flows or complete trajectories, spatio-temporal correlations between the trajectory fragments in video clips were modeled by the latent Dirichlet allocation (LDA) topic model based on Markov random fields to obtain the spatial context of local behavior in each video clip. The local behavior topic categories were then obtained by exploiting the spectral clustering algorithm. Based on the construction of a dictionary through the process of local behavior topic clustering, the second phase of the LDA topic model learns the correlations of global behaviors and temporal context. In particular, an abnormal behavior recognition method was developed based on the learned spatio-temporal context of behaviors. The specific identification method adopts a top-down strategy and consists of two stages: anomaly recognition of video clip and anomalous behavior recognition within each video clip. Evaluation was performed using the validity of spatio-temporal context learning for local behavior topics and abnormal behavior recognition. Furthermore, the performance of the proposed approach in abnormal behavior recognition improved effectively and significantly in complex surveillance scenes.

• 대한수학회지
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• 제34권2호
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• pp.395-405
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• 1997

A globality of the Hopf bifurcation in a free boundary problem for a parabolic partial differential equation is investigated in this paper. We shall examine the global behavior of the Hopf critical eigenvalues and and apply the center-index theory to show the globality.

• 한국경영과학회지
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• 제17권1호
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• pp.107-112
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• 1992

A slight extension of the classical saddle point and the global optimality condition has been discussed relative to some algorithmic implications. It also involves an economic interpretation which shows satisfying, rather than optimizing, decision making behavior under bounded rationality.

• 한국의류학회지
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• 제29권5호
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• pp.692-702
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• 2005

The purpose of this study was to explore global consumer behavior with fashion products, Korean fashion products, and Korean traditional fashion products (i.e., Han-Bok). Clothing selection criteria for fashion products and Korean fashion products were included as major constructs far the comparison among global consumers based on their nationality. Other consumer behavior variables were shopping place, buying frequency, purchase experience/plan, preferred brand, purchase items, information source, purchasing usage, and the product evaluation of Hanbok. A convenience sample of 236 global consumers was selected for this study. A questionnaire was pilot tested, and the revised questionnaire was used for the interview survey. Descriptive statistics and ANOVA were used for data analysis. Various nationality were existed such as Europe, North America, Japan, China, South East Asia. The results indicated that the most important criteria for fashion buying were design, fit, and size in order. Fit, size, and color item from buying criteria were significantly different among global consumers by nationality. Country of origin was found as less important factor among global consumers. Department store was most favorable shopping place, and once a month is the most mentioned category in buying frequency. Preferred brands were Levi's, Polo, Gucci, and Prada, etc. Secondly, regarding the evaluation of Korean fashion products, textile quality was highly evaluated. Significant difference except design/style category were existed among global consumers by nationality. Thirdly, regarding the evaluation of Hanbok, the product evaluation of Hanbok highly represented as special event clothing, unique image, beautiful details and oriental beauty in order. Significant difference in good quality of textiles, oriental beauty, coordination with good colors and fabrics, beautiful details and unique style and design were existed among global consumers by nationality. Managerial implications were discussed.

• 대한가정학회지
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• 제41권2호
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• pp.31-42
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• 2003

The purpose of this research is to find the relational influences of maternal child rearing behavior and peer acceptance on children's self esteem. The sample subject were 200 of fourth/sixth grade of elementary school. The major findings of the research were as follows : First, the scores of peer acceptance, social acceptance, behavior conduct, global self-worth and affect tend to be over the mean scores. Second, the influences of maternal child rearing behaviors and peer acceptance on children's self esteem found significant due to the sub-areas of self-esteem. The affectionate child rearing affects all sub-areas of self-esteem. Overprotection and peer acceptance affect social acceptance. In addition, gender affect cognitive ability and fade affects global self-worth.

• 대한전기학회논문지
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• 제40권3호
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• pp.308-315
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• 1991

This paper deals with the global dynamic behavior of multiple autonomous mobile robots with suggested navigation strategies within unbounded and bounded spatial domain. We derive some navigation strategies of robots wirh complete detectability with finite range to reach their goal states without collision which is motivated by Coulomb's law regarding repulsive and attractive forces between electrical charges. An analysis of the dynamic behavior of the interacting robots with the suggested navigation strategies under the assumption that communication is not permissible between robots is made and some examples are illustrated by computer simulation. The convergence of robot motions to their goal states under certain conditions is established by considering their global dynamic behavior even when some objects are close to their goal points.