• Title/Summary/Keyword: macro-structure

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GDP Linked Bonds and Currency Risk Premiums (GDP 연계채권과 환리스크 프리미엄)

  • Sohn, Kyoung-woo
    • Asia-Pacific Journal of Business
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    • v.12 no.3
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    • pp.379-396
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    • 2021
  • Purpose - The purpose of this paper is to study the rational payoff from the standpoint of foreign investors and the government when the government issues GDP-linked bonds to foreign investors. Design/methodology/approach - In this paper, the prices of 12 types of GDP-linked bond structures, which are classified according to the calculation cycle of the rate of change of linked GDP, the currency issued, and whether options are embedded, were evaluated. The Fama-French 3-factor model and the GMM-SDF model are used in the asset pricing model, and domestic and overseas investors used different basis assets. Findings - The KRW premium for US investors is estimated to be 43bp on a quarterly basis and 30bp on an annual basis, respectively, meaning that when the government issues bonds in KRW, the interest rate paid to US investors will be reduced by 30bp to 160bp (annually converted). Using the Fama-French 3 factor model, the KRW premium is the risk premium for the US market beta, meaning that if US investors do not intend to invest in US market beta, it is advantageous to receive an additional interest rate by investing in USD-denominated GDP-linked bonds. Korea's GDP- linked bond give US investors diversified investment utility, so they are willing to incorporate Korean GDP-linked bonds even if -150bp of interest is deducted from the structure issued to Korean investors. And as a result of estimating the value of the option through the GDP-linked bond with options that provides a floor for guaranteeing the principal, the value of the option linked to the annual GDP issued in dollars was the lowest. Research implications or Originality - Issuing dollar-denominated GDP-linked bonds linked to annual GDP with the option of guaranteeing the principal by the government is a way to increase investment opportunities for US investors and achieve financial stability of the government.

Effect of Adolescents' Perceived Parental Blame on Learned Helplessness: The Sequential Mediating Effects of Maladaptive Metacognitive Beliefs and Rumination (청소년이 지각한 부모의 비난이 학습된 무기력에 미치는 영향에서 역기능적 메타인지신념과 반추의 순차적 매개효과)

  • Jiyoon Kang;Min Ju Kang
    • Human Ecology Research
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    • v.62 no.1
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    • pp.101-120
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    • 2024
  • This study aimed to examine the effect of adolescents' perceived parental blame (criticism) on learned helplessness and to examine whether maladaptive metacognitive beliefs and rumination sequentially mediate the relationship between parental blame and learned helplessness. The participants were 316 adolescents (Mean age=16.7, SD=0.75; 137 male, 179 female) attending grades 1st and 2nd in high school in South Korea. The participants were selected using a snowball sampling method, while the data was collected via an online self-report questionnaire. This survey was completed by the participants and analyzed using SPSS 28.0, Amos 26.0 (IBM Co., Armonk, NY), and PROCESS macro version 4.2 (Model 6; Hayes, 2022). The main results are summarized as follows. Firstly, the adolescents' perceived paternal and maternal blame indicated significant direct effects on learned helplessness. Secondly, rumination mediated the effect of paternal and maternal blame on learned helplessness. Lastly, paternal and maternal blame significantly affected learned helplessness through the sequential mediating effects of maladaptive metacognitive beliefs and rumination. This study elucidates the causal structure among the various factors influencing learned helplessness in adolescents, focusing on parental blame, maladaptive metacognitive beliefs, and rumination. Furthermore, considering the verified sequential mediating effects of maladaptive metacognitive beliefs and rumination in the relationship between adolescents' perceived parental blame and learned helplessness, these findings suggest that modifying maladaptive metacognitive beliefs may help to reduce learned helplessness among adolescents who perceive high levels of parental blame.

Binding Mode Analysis of Bacillus subtilis Obg with Ribosomal Protein L13 through Computational Docking Study

  • Lee, Yu-No;Bang, Woo-Young;Kim, Song-Mi;Lazar, Prettina;Bahk, Jeong-Dong;Lee, Keun-Woo
    • Interdisciplinary Bio Central
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    • v.1 no.1
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    • pp.3.1-3.6
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    • 2009
  • Introduction: GTPases known as translation factor play a vital role as ribosomal subunit assembly chaperone. The bacterial Obg proteins ($Spo{\underline{0B}}$-associated ${\underline{G}}TP$-binding protein) belong to the subfamily of P-loop GTPase proteins and now it is considered as one of the new target for antibacterial drug. The majority of bacterial Obgs have been commonly found to be associated with ribosome, implying that these proteins may play a fundamental role in ribosome assembly or maturation. In addition, one of the experimental evidences suggested that Bacillus subtilis Obg (BsObg) protein binds to the L13 ribosomal protein (BsL13) which is known to be one of the early assembly proteins of the 50S ribosomal subunit in Escherichia coli. In order to investigate binding mode between the BsObg and the BsL13, protein-protein docking simulation was carried out after generating 3D structure of the BsL13 structure using homology modeling method. Materials and Methods: Homology model structure of BsL13 was generated using the EcL13 crystal structure as a template. Protein-protein docking of BsObg protein with ribosomal protein BsL13 was performed by DOT, a macro-molecular docking software, in order to predict a reasonable binding mode. The solvated energy minimization calculation of the docked conformation was carried out to refine the structure. Results and Discussion: The possible binding conformation of BsL13 along with activated Obg fold in BsObg was predicted by computational docking study. The final structure is obtained from the solvated energy minimization. From the analysis, three important H-bond interactions between the Obg fold and the L13 were detected: Obg:Tyr27-L13:Glu32, Obg:Asn76-L13:Glu139, and Obg:Ala136-L13:Glu142. The interaction between the BsObg and BsL13 structures were also analyzed by electrostatic potential calculations to examine the interface surfaces. From the results, the key residues for hydrogen bonding and hydrophobic interaction between the two proteins were predicted. Conclusion and Prospects: In this study, we have focused on the binding mode of the BsObg protein with the ribosomal BsL13 protein. The interaction between the activated Obg and target protein was investigated with protein-protein docking calculations. The binding pattern can be further used as a base for structure-based drug design to find a novel antibacterial drug.

A Multi-level Representation of the Korean Narrative Text Processing and Construction-Integration Theory: Morpho- syntactic and Discourse-Pragmatic Effects of Verb Modality on Topic Continuity (한국어 서사 텍스트 처리의 다중 표상과 구성 통합 이론: 주제어 연속성에 대한 양태 어미의 형태 통사적, 담화 화용적 기능)

  • Cho Sook-Whan;Kim Say-Young
    • Korean Journal of Cognitive Science
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    • v.17 no.2
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    • pp.103-118
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    • 2006
  • The main purpose of this paper is to investigate the effects of discourse topic and morpho-syntactic verbal information on the resolution of null pronouns in the Korean narrative text within the framework of the construction-integration theory (Kintsch, 1988, Singer & Kintsch, 2001, Graesser, Gernsbacher, & Goldman. 2003). For the purpose of this paper, two conditions were designed: an explicit condition with both a consistently maintained discourse topic and the person-specific verb modals on one hand, and a neutral condition with no discourse topic or morpho-syntactic information provided, on the other. We measured the reading tines far the target sentence containing a null pronoun and the question response times for finding an antecedent, and the accuracy rates for finding an antecedent. During the experiments each passage was presented at a tine on a computer-controlled display. Each new sentence was presented on the screen at the moment the participant pressed the button on the computer keyboard. Main findings indicate that processing is facilitated by macro-structure (topicality) in conjunction with micro-structure (morpho-syntax) in pronoun interpretation. It is speculated that global processing alone may not be able to determine which potential antecedent is to be focused unless aided by lexical information. It is argued that the results largely support the resonance-based model, but not the minimalist hypothesis.

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The Structure of Interrelationship Among the Influential Factors of Migration Using Path Analysis (경로분석을 이용한 인구이동 결정요인들 간의 인과구조)

  • Lee, Hee-Yeon;Park, Jung-Ho
    • Journal of the Economic Geographical Society of Korea
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    • v.12 no.2
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    • pp.123-141
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    • 2009
  • Interregional migration is viewed as the most important component in regional population change in Korea. The purpose of this study is to analyze the structure of interrelationship among influential factors of interregional migration from the macro-viewpoint. During the period of 2000-05 the correlation between immigration and outmigration among 223 shi gun gu spatial unit was over 0.95, indicating that regions with high outmigration received high immigration. In this study the hypothesized cause-and-effect relationship among six influential factors of total migration flow was analyzed using path analysis. Based on the direct effect culturalwelfare environment has the biggest impact on immigration, while education environment and new housing environment are somewhat less and industrial-job opportunity environment the smallest impact. However based on the indirect effect, fiscal environment has the biggest impact on immigration, while industrial-job opportunity environment and infrastructure environment are somewhat less and new housing environment the smallest impact. If we consider the total effect, fiscal environment and cultural-welfare environment have the most significantly influenced on immigration. In particular, the influence of fiscal environment was remarkable in migration process through nonrecursive path and feedback loop.

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Reappraisal of Empowerment through Giddens's Theory of Reflexivity -In Quest of the Integrated Paradigm for Social Welfare Practice- (기든스(Giddens)의 성찰성 이론을 통한 임파워먼트의 재해석 -통합적 사회복지실천 패러다임에 대한 탐색-)

  • Choi, Myungmin;Kim, Giduk
    • Korean Journal of Social Welfare
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    • v.65 no.2
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    • pp.103-130
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    • 2013
  • Although both ecosystem theory and empowerment have become the most prevalent candidate for integrated paradigm for social welfare practices, they could not overcome completely the long-standing and sharp divides between micro and macro practices, that is, between subject and structure as a main explanatory element in social welfare realm. Along with such traditional dualism and tension, a new emerging divide between modernism and postmodernism regarding intrinsic mission and roles of social welfare has urged strongly to develop the overarching theoretical framework for social welfare practice. In this regard, this study aims to recast the ecosystem theory and empowerment through the reflexive modernization theory of critical sociologist Anthony Giddens. With relatively strong emphasis on human capability coined as the reflexivity, Giddens's own creative theory of modernization can be thoroughly expected to provide a solid foundation of integrated paradigm enough to bridge the existing dualisms in social welfare theory and practice. Especially, his unique account of integrated way of how human agency is involved in the construction of social structure and how to transform each other recursively has profound implication for empowerment to be adequate and proper comprehensive framework for social welfare practice.

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Agglomeration Economies and Intra-metropolitan Location of Firms: A Spatial Analysis on Chicago and Seoul (집적경제와 도시내 기업입지에 대한 공간분선: 서울과 시카고를 대상으로)

  • Jungyul Sohn
    • Journal of the Korean Geographical Society
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    • v.36 no.5
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    • pp.561-577
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    • 2001
  • Urban spatial structure is closely related to the spatial distribution of urban economic activities. The spatial distribution pattern is no more than an aggregated expression of the location and/or relocation behavior of individual firms and establishments. In this respect, it is important to identify and examine the factors that affect the spatial behavior of individual firms for a more comprehensive understanding of urban space. Agglomeration economies are one of the most prominent urban economic phenomena in the modern metropolitan area. Most firms in an urban space seek external economies through the spatial clustering of their activities. Agglomeration economies feature prominently in the analysis of urban economic structure across urban areas. While the agglomeration economies between cities focus at the macro-scale of analysis, such economies within any given city focus more on the micro geographical scale. There have been a number of researches on agglomeration economies, among which there are relatively few approaches based on an intra-urban context. This proper explores the agglomeration economies at the micro scale and tries to reseal the spatial realization of the agglomeration economies within and between sectors. Three sectors are considered in the analysis; manufacturing, retail and service. The model is based on simultaneous equation systems combined with spatially weighted variables and estimated by the KRP estimators.

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The Object-Oriented Design & Implementation of Spatial Data Transformation System for the 3-D Representation of Underground Utilities (지하시설물의 3차원 표현을 위한 공간 데이터 변환 시스템의 객체 지향적 설계 및 구현)

  • 오승;강병익;정정화
    • Proceedings of the Korean Association of Geographic Inforamtion Studies Conference
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    • 1996.06a
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    • pp.79-109
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    • 1996
  • In order to transform the underground utility data into the 3-D spatial objects, this thesis defined the type of the 3-D spatial objects and the storage structure of objects, and developed the spatial data transformation system that transforms the 2-D underground utility data into the pre-defined 3-D spatial objects through the Booch Method, an object-oriented development method. For this sake, the relational data model of ARC/INFO and the storage structure are analyzed, as well as the pre-requisites, required for the 3-D visualization of the underground utilities. Also, the 2-D underground utility data, saved in ARC/INFO, were transformed into the ASCII files through the internal pre-processing procedure, then used as the input data of the transformation system. In addition, to develop the transformation system, the object-oriented development methods are studied first and, then, applied to the system analysis and the design procedure with the Booch Method as a development method. Finally, the results of analysis and design procesure are implemented through AML, a ARC/INFO macro language, and C++, an object-oriented programing language. As a result of this study, the 3-D spatial objects that can visualize the 2-D utilities in 3-D, are acquired, and the adaptation of object-oriented development method to the system development procedure enabled an effective development prodedure.

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The Understanding of Retailing Competition Structure (소매점 유통경쟁구조의 이해)

  • Park, Seong-Yong;Shin, Ji-Yong
    • Korean Business Review
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    • v.13
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    • pp.107-132
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    • 2000
  • The entry of large discount stores such as E-mart, LG mart, Magnet etc. into small cities have had a profound impact on the business of small-sized retailers. Now, it becomes the matter of survival for small-sized retailers and it is almost impossible to reverse those trends. Without satisfying consumers' various needs and wants, retailers can not survive. Therefore, it is extremely important to understand retail competition from the perspective of consumers in order for retailers to survive in the turbulent environment. The previous research studies on retail competition have focused on the comparison among different types of retailers with respect to strategic retail mix variables. However, they do not consider the competitive aspects of consumers' sides. In addition, we do not fully understand the meaning of "shopping." Shopping means hedonic shopping as well as utilitarian shopping. Utilitarian aspects are important but consumers also prefer' hedonic aspects too. That is the reason that traditional retailers such as small-sized retailers can not compete with modem and large retailers. We use three different methods to identify the macro and competitive structure. of retailing with respect to shopping. Factor analysis, multidimensional scaling, and multiple correspondence analysis are used to produce perceptual mapping of retail competition. Department store and large discount store are identified as close competitors but both might have an indirect impact on small-sized retailers through demand shift toward high end retailers.

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Molecular Cloning of Mutant cDNA of PU.1 Gene (PU.1 유전자(cDNA)의 인위적 변이체 클로닝)

  • 류종석;유시현
    • KSBB Journal
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    • v.10 no.5
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    • pp.499-509
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    • 1995
  • PU.1, a tissue-specific transcription activator, binds to a purine-rich sequence(5'-GAGGAA-3') called PU box. The PU.1 cDNA consists of an open reading frame of 816 nucleotides coding for 272 amino acids. The amino terminal end is highly acidic, while the carboxyl terminal end is highly basic. Transcriptional activation domain is located at the amino terminal end, while DNA binding domain is located at the carboxyl terminal end. Activation of PU.1 transcription factor is supposed to be accomplished by the phosphorylation of serine residue(s). There exist 22 serines in the PU.1. Five(the 41, 45, 132$.$133, and 148th) of the serines(plausible phosphorylation site by casein kinase II), are the primary targets of interest in elucidating the molecular mechanism(s) of the action of the PU.1 gene. In this study, PU.1 cDNA coding for the five serine residues(41th AGC, 45th AGC, 132$.$133th AGC$.$TCA, and 148th TCT), was mutated to alanine codon(41th GCC, 45th GCC, 132$.$133th GCC$.$GCA, and 1481h GCT), respectively, by Splicing-Overlapping-Extension(SOE) using Polymerase Chain Reaction(PCR). And each mutated cDNA fragments was ligated into pBluescript KS+ digested with HindIII and Xba I, to generate mutant clones named pKKS41A, pRKS45A, pMKS132$.$133A, and pMKS148A. The clones will be informative to study the "Structure and Function" of the immu-nologically important gene, PU.1.

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