• 산경연구논집
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• 제9권10호
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• pp.83-89
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• 2018

Purpose - The purpose of this study examines when the optimism impact on financial asset price forecasting and the boundary condition of optimism in the financial asset price forecasting. People generally tend to optimistically forecast their future. Optimism is a nature of human beings and optimistic forecasting observed in daily life. But is it always observed in financial asset price forecasting? In this study, two factors were focused on considering whether the optimism that people have applied to predicting future performance of financial investment products (e.g., mutual fund). First, this study examined whether the degree of optimism varied depending on the direction of the prior price trend. Second, this study examined whether the degree of optimism varied according to the forecast period by dividing the future forecasted by people into three time horizon based on forecast period. Research design, data, and methodology - 2 (prior price trend: rising-up trend vs falling-down trend) × 3 (forecast time horizon: short term vs medium term vs long term) experimental design was used. Prior price trend was used between subject and forecast time horizon was used within subject design. 169 undergraduate students participated in the experiment. χ² analysis was used. In this study, prior price trend divided into two types: rising-up trend versus falling-down trend. Forecast time horizon divided into three types: short term (after one month), medium term (after one year), and long term (after five years). Results - Optimistic price forecasting and boundary condition was found. Participants who were exposed to falling-down trend did not make optimistic predictions in the short term, but over time they tended to be more optimistic about the future in the medium term and long term. However, participants who were exposed to rising-up trend were over-optimistic in the short term, but over time, less optimistic in the medium and long term. Optimistic price forecasting was found when participants forecasted in the long term. Exposure to prior price trends (rising-up trend vs falling-down trend) was a boundary condition of optimistic price forecasting. Conclusions - The results indicated that individuals were more likely to be impacted by prior price tends in the short term time horizon, while being optimistic in the long term time horizon.

• 한국환경과학회지
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• 제26권2호
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• pp.221-230
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• 2017

To determine the effect of air pollution reduction policies, the long-term trend of air pollutants should be analyzed. Kolmogorov-Zurbenko (KZ) filter is a low-pass filter, produced through repeated iterations of a moving average to separate each variable into its temporal components. The moving average for a KZ(m, p) filter is calculated by a filter with window length m and p iterations. The output of the first pass subsequently becomes the input for the next pass. Adjusting the window length and the number of iterations makes it possible to control the filtering of different scales of motion. To break down the daily mean $PM_{10}$ into individual time components, we assume that the original time series comprises of a long-term trend, seasonal variation, and a short-term component. The short-term component is attributable to weather and short-term fluctuations in precursor emissions, while the seasonal component is a result of changes in the solar angle. The long-term trend results from changes in overall emissions, pollutant transport, climate, policy and/or economics. The long-term trend of the daily mean $PM_{10}$ decreased sharply from $59.6ug/m^3$ in 2002 to $44.6ug/m^3$ in 2015. This suggests that there was a long-term downward trend since 2005. The difference between the unadjusted and meteorologically adjusted long-term $PM_{10}$ is small. Therefore, we can conclude that $PM_{10}$ is unaffected by the meteorological variables (total insolation, daily mean temperature, daily mean relative humidity, daily mean wind speed, and daily mean local atmospheric pressure) in Busan.

• 한국물환경학회지
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• 제24권4호
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• pp.480-487
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• 2008

Spatial and temporal analyses of water qualities were performed for 11 monitoring stations located in Mangyung watershed in order to analyze the trends of monthly water quality data of Biochemical Oxygen Demand (BOD), Total Nitrogen (TN) and Total Phosphorus (TP) measured from 1995 to 2004. The long-term trends were analyzed utilizing Seasonal Mann-Kendall test, LOWESS and three-dimensional graphs were constructed with respect to distance and time. The graph can visualize spatial and temporal trend of the long-term water quality in a large river system. The results of trend analysis indicated that water quality of BOD and TN showed the downward trend. This quantitive and quantitative analysis is the useful tool to analyze and display the long-term trend of water quality in a large river system.

• Ocean and Polar Research
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• 제28권4호
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• pp.415-423
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• 2006

Interannual variation and long-term trends of coastal sea surface temperature (SST) in Korea were investigated by analyzing 27 coastal SST time series from 1969 to 2004. Long-term linear increasing trend was remarkable with the rate over $0.02^{\circ}C/year$ at almost all the stations. The slope of long-term linear trend was larger at the stations along the eastern coast than in the western and southern regions. It was also noticeable that there was a common tendency of interannual variability with the period of 3-5 years at most of the stations. SST was lower in the 1970's and early 1980's while it was higher in the 1990's and early 2000's after the increase in the late 1980's. The pattern of the interannual variability of SST was similar to that of air temperature. Increasing trend of minimum SST in winter was obvious at most stations na it was larger along the eastern coast, while the linear trend of maximum SST in summer was less definite. Therefore, the decreasing tendency of annual amplitude was mainly due to the increasing tendency of SST in winter.

• Fisheries and Aquatic Sciences
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• 제26권11호
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• pp.639-648
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• 2023

The sea surface temperature (SST) and ocean heat content in the Korea Waters are gradually increased. Especially the increasing trend of annual mean SST in the Korea Water is higher about 2.6 times than the global mean during past 55 years (1968-2022). Before 2010s, the increasing trend of SST was led by winter season in the Korea Waters. However, this pattern was clearly changed after 2010s. The increasing trend of SST during summer is higher about 3.9 times than during winter after 2010s. We examine the long-term variations of several ocean and climate factors to understand the reasons for the long-term pattern changes of SST between summer and winter in recent. Tsushima warm current was significantly strengthened in summer compare to winter during past 33 years (1986-2018). The long-term patterns of Siberian High and East Asian Winter Monsoon were definitely changed before and after early- or mid-2000s. The intensities of those two climate factors was changed to the increasing trend or weakened decreasing trend from the distinctive decreasing trend. In addition, the extreme weather condition like the heatwave days and cold spell days in the Korea significantly increased since mid- or late-2000s. From these results, we can consider that the occurrences of frequent and intensified marine heatwaves during summer and marine cold spells during winter in the Korea Waters might be related with the long-term pattern change of SST, which should be caused by the long-term change of climate factors and advection heat, in a few decade.

• 대기
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• 제31권1호
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• pp.101-112
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• 2021

The long-term trend of surface wind speed in Korea is examined for 31 KMA weather stations from 1985 to 2019. Most stations, except Daegwallyeong, have several times of anemometer height changes from tens of centimeters to several meters. To minimize such height change effect on long-term wind trend, the present study adjusts anemometer height in each station to the standard height of 10 m using the power-law wind profile. This adjustment results in non-negligible trend change. For instance, the increasing surface wind speed at Suwon station, which has six times of anemometer height changes in a range of 0.8 m to 20 m, is weakened up to 67% and becomes statistically insignificant. Likewise, the decreasing trend at Andong station, with three times of anemometer height changes in a range of 10 m to 15.5 m, is weakened up to 66%. A similar weakening in long-term trend is observed in most stations regardless of positive and negative trends. However, due to the cancellation between weakened negative trends and weakened positive trends, the station-averaged wind speed trend in Korea does not change much. This result suggests that anemometer height adjustment is crucial for evaluating local wind speed trend but its impact on nation-wide wind speed trend is rather minor.

• 대기
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• 제31권5호
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• pp.553-562
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• 2021

The long-term trend of surface wind speed in Korea is estimated by correcting wind measurements at 29 KMA weather stations from 1985 to 2019 with physical and statistical homogenization. The anemometer height changes at each station are first adjusted by applying physical homogenization using the power-law wind profile. The statistical homogenization is then applied to the adjusted data. A standard normal homogeneity test (SNHT) is particularly utilized. Approximately 40% of inhomogeneities detected by the SNHT match with the sea-level-height change of each station, indicating that an SNHT is an effective technique for reconciling data inhomogeneity. The long-term trends are compared with homogenized data. Statistically significant negative trends are observed along the coast, while insignificant trends are dominant inland. The mean trend, averaged over all stations, is -0.03 ± 0.07 m s^-1 decade^-1. This insignificant trend is due to a trend change across 2001. A decreasing trend of -0.10 m s^-1 decade^-1 reverses to an increasing trend of 0.03 m s^-1 decade^-1 from 2001. This trend change is consistent with mid-latitude wind change in the Northern hemisphere, indicating that the long-term trend of surface wind speed in Korea is partly determined by large-scale atmospheric circulation.

• 지질공학
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• 제30권3호
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• pp.379-397
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• 2020

본 연구에서는 1922년부터 2019년까지 동래온천수의 장기적인 온천수 수질 변화 특성을 살펴보았다. Mann-Kendall 분석과 Sen의 기울기에 의해서 동래온천수의 장기적인 수질 특성 변화를 분석하면, 온도, Ca, SiO₂, HCO₃는 증가 추세를 보이는 반면에 EC, Na, K, Mg, Cl, SO₄은 감소 추세를 보이거나 또는 거의 추세 변화를 보이지 않는다. 동래온천수의 수질유형은 시간경과에도 변하지 않고 Na-Cl형에 안정적으로 속하고 있다. 2004년, 2009년, 2014년, 2019년의 수질 자료를 이용한 공간 분포도에 의하면, 시기별로 변동을 보이며, 시료 채취 지점에 따라 값의 변화를 보인다. 이는 장기적인 온천수 개발에도 불구하고 동래온천수의 공간적인 수질 특성은 거의 일정하다는 것을 지시한다.

• 아태비즈니스연구
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• 제10권2호
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• pp.27-41
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• 2019

Following the methodology of Ben-Rephael, Kadan and Wohl (2015), this paper examines whether firm-level liquidity premium exists and whether the premium exhibits a long-term trend in the Korean stock market. The results show that over the whole sample period (1998-2018), a liquidity premium of 0.083% exists in the cross-section of stocks. Interestingly, the pricing of liquidity declines significantly over the sample period. Sub-period analysis indicates that liquidity is priced mainly in the first sub-period (1998-2004) with a significant monthly premium of 0.304%, while the pricing of liquidity becomes weaker or insignificant in the second (2005-2011) and the third (2012-2018) period. I also find that the significance of the liquidity premium in the first period is attributed to small stocks. To explore underlying reasons that might affect the decline in the liquidity premium, I decompose liquidity premium into the product of firm-level liquidity and the sensitivity of expected stock returns on liquidity. The results reveal that the long-term decline is explained by both an increase in firm-level liquidity and a decrease in the sensitivity of expected returns on liquidity.

• Journal of the Korean Data and Information Science Society
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• 제20권5호
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• pp.765-777
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• 2009

본 연구에서는 대기오염물질 중에서 주목을 받고 있는 분진 직경이 10마이크로미터 (micrometer) 이내의 것을 대상으로 실제로 증가하는지 감소하는지를 알아보기 위하여 교락 요인을 제외한 분진을 대상으로의 순수한 장기 추세를 연구하였다. 자료는 1996년에서 2000년까지 서울시의 기상 변수들 (최대기온, 평균습도, 최대풍속, 일사량)과 27지점에서 얻은 분진 직경이 10마이크로미터 이내의 것을 이용한다. 이 자료를 이용하여 분진과 비선형 관계를 보이는 기상 변수들의 회귀 스플라인을 이용하여 계절성을 통제한 일반화 부가모형을 세웠다. 그 결과 증가가 아닌 감소하는 순수 장기 추세를 얻을 수 있었다.