• Journal of Global Scholars of Marketing Science
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• v.20 no.2
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• pp.123-134
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• 2010

Considering the benefits for both consumers and suppliers, firms are taking advantage of the Internet as a medium to communicate with and sell products to their consumers. This trend makes the online shopping environment a growing field for both researchers and practitioners. This paper contributes by testing a model of online consumer behavior with websites varying in levels of hedonism. Unlike past studies, we included all three types of emotions (arousal, pleasure, and dominance) and flow into the model. In this study, we assumed that website interfaces, such as background colors, music, and fonts impact the three types of emotions at the initial exposure to the site (Mazaheri, Richard, and Laroche, 2011). In turn, these emotions influence flow and consumers' perceptions of the site atmospherics-perception of site informativeness, effectiveness, and entertainment. This assumption is consistent with Zajonc (1980) who argued that affective reactions are independent of perceptual and cognitive operations and can influence responses. We, then, propose that the perceptions of site atmospherics along with flow, influence customers' attitudes toward the website and toward the product, site involvement, and purchase intentions. In addition, we studied the moderating impact of the level of hedonism of websites on all the relationship in the model. Thus, the path coefficients were compared between "high" and "low" hedonic websites. We used 39 real websites from 12 product categories (8 services and 4 physical goods) to test the model. Among them, 20 were perceived as high hedonic and 19 as low hedonic by the respondents. The result of EQS 6.1 support the overall model: $\chi^2$=1787 (df=504), CFI=.994; RMSEA=.031. All the hypotheses were significant. In addition, the results of multi-groups analyses reveal several non-invariant structural paths between high and low hedonic website groups. The findings supported the model regarding the influence of the three types of emotions on customers' perceptions of site atmospherics, flow, and other customer behavior variables. It was found that pleasure strongly influenced site attitudes and perceptions of site entertainment. Arousal positively impacted the other two types of emotions, perceptions of site informativeness, and site involvement. Additionally, the influence of arousal on flow was found to be highly significant. The results suggested a strong association between dominance and customers' perceptions of site effectiveness. Dominance was also found to be associated with site attitudes and flow. Moreover, the findings suggested that site involvement and attitudes toward the product are the most important antecedents of purchase intentions. Site informativeness and flow also significantly influenced purchase intentions. The results of multi-group analysis supported the moderating impacts of hedonism of the websites. Compared to low (high) hedonic sites, the impacts of utilitarian (hedonic) attributes on other variables were stronger in high (low) hedonic websites. Among the three types of emotions, dominance (controlling feelings) effects were stronger in high hedonic sites and pleasure effects were stronger in low hedonic sites. Moreover, the impact of site informativeness was stronger for high hedonic websites compared to their low-hedonic counterparts. On the other hand, the influence of effectiveness of information on perceptions of site informativeness and the impact of site involvement on product attitudes were stronger for low hedonic websites than for high hedonic ones.

• The Korean Journal of Air & Space Law and Policy
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• v.31 no.2
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• pp.99-143
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• 2016

General aviation and air transport are two wings of the civil aviation industry. Chinese air transport is developing rapidly, and has become the world second air transport system only second to US since 2005. However, Chinese civil aviation is far behind the world average level, and cannot meet requirements of economic construction and social development. The transition and structural adjustment of Chinese economy provide the general aviation with a unprecedented broad market. The prospect of general aviation is promising and anticipated. The development of general aviation industry needs the legislative supports, and the current legislative conditions of Chinese general aviation are undoubtedly far behind the realistic requirements. Accelerating the legislation in Chinese general aviation industry requires scientific legislation concept. First, Legislation must promote development of general aviation industry. The general aviation will serves as a Chinese emerging industry that boosts domestic demand, promotes employment and expedite domestic economic development. We should, based on both the concept of promoting the industrial development of general aviation and national industrial planning, enact and rectify relative laws and regulations. And we should also straighten out the relationship between aviation security and industrial development and promote the revolution of low-altitude airspace management in an all-round way, in order to improve the utilization rate of airspace resources, classify and establish airspace, simplify examination and approval procedure and intensify operation management. In addition, what we should do is to expedite the infrastructure layout construction, guide the differentiated but coordinated development of general aviation industries in various areas, establish a united supervision mechanism of general aviation, redistrict the responsibilities of Chinese Air Control Agency and set up legislation, law enforcement and judicial systems with clarified institutions, clear positioning and classified responsibilities, so as to usher in a new era of the legislative management of Chinese general aviation industry. Second, shift the focus from regulations to both regulations and services. Considering the particularity of the general aviation, we should use American practices for reference and take into account both regulation and service functions when enacting general aviation laws. For example, we should reduce administrative licensing and market supervision, and adopt "criteria" and "approval" management systems for non-commercial and commercial aviation. Furthermore, pay attention to social benefits. Complete social rescuing mechanism through legislation. It should be clarified in legislation that general aviation operators should take the responsibilities of, and ensure to realize social benefits of environmental protection and ecological balance .Finally, rise in line with international standards. Modify Chinese regulations which is inconsistent with international ones to remove barriers to international cooperation. Specify basic legislative principles. One is the principle of coordination. Realize coordination between the civil aviation and general aviation, between military aviation and civil aviation, and among departments. Two is the principle of pertinence. The general aviation has its own rules and specialties, needing to be standardized using specialized laws and regulations. Three is the principle of efficiency. To realize time and space values of general aviation, we should complete rules in aerospace openness, general aviation airport construction, general aviation operations, and regulation enforcement. Four is the principle of security. Balance the maximum use of resources of Chinese airspace and the according potential threats to Chinese national interests and social security, and establish a complete insurance system which functions as security defense and indemnificatory measure. Establish a unified legal system. Currently, the system of Chinese general aviation laws consists of national legislation, administrative laws and regulations and civil aviation regulations (CAR). Some problems exist in three components of the system, including too general content, unclear guarantee measures, incomplete implementation details, and lacking corresponding pertinence and flexibility required by general aviation regulations, stringency of operation management and standards, and uniformity of standards. A law and regulation system, centered on laws and consisting of administrative laws regulations, industrial regulations, implementation details, industrial policies and local laws and regulations, should be established. It is suggested to modify the Civil Aviation Law to make general aviation laws complete, enact the Regulations of General Aviation Development, and accelerate the establishment, modification and abolition of Chinese general aviation laws to intensify the coordination and uniformity of regulations.

• Journal of Science and Technology Studies
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• v.5 no.1 s.9
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• pp.55-92
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• 2005

The factors contributing to the formation of an important scientific concept in South Korea and its circulation in the society are the scientific knowledge that had been already formed, matured, and established in the U.S.A, Europe and Japan and has been introduced into Korea, and the institutions that have been formed during the recent modernization in South Korea. The concept of 'genetic information' cannot be an exception in this context. The concept of genetic information is the one that has been extended and intensified by the genomics and bioinformatics formed and matured through the Human Genome Projects from the former concept of inheritance or heredity within the framework of classical and molecular genetics. The purpose of this study was to find out 'how the production structure of genetic information in South Korea has been formed', under the perspective of the conceptual, epistemic, and institutional holisticity or integratedness in the concept and knowledge production structure idealized in Western advanced nations. The discourse of genetic engineering popular in the mid 1980's in South Korea has catalyzed the development of molecular biology. However, the institutional balance that had been established for the biochemistry departments in Natural Science College and Medical College was not formed between the genetic engineering and genetics departments in South Korea. Therefore, they were unable to achieve the more integrative and macro-level disciplinary impact on life sciences, largely due to institutional lack of the capable (human) genetics departments in some leading Korean colleges of Medicine. In genomics, the cutting-edge reprogramming and restructuring of the traditional genetics in the West, South Korea has not invested, even meagerly, in the infrastructure, fund, and research and development (R & D) for the Basic or First Phase of the research trajectory in the Human Genome Project. Without a minimal Basic Phase, the genomics research and development in Korea has been running more or less for the Advanced or Second Phase. Bioinformatics has started developing in Korea under a narrow perspective which regards it as a mere sub-discipline of information technology (IT). Having developed itself in parallel with genomics, bioinformatics contains its own unique logics and contents that can be both directly and indirectly connected to the information science and technology. As a result, bioinformatics reveals a defect in respect of being synergistically integrated into genetics and life sciences in Korea. Owing to the structural problem in the production, genetic information appears to be produced in a fragmented pattern in the Korean society since its fundamental base is weak and thin. A good example of the conceptual and institutional fragmentedness is that 'the genetics of individual identification' is not a normal integrated part of the Korean genetics, but a scientific practice exercised in the departments of legal medicine in a few Medical Colleges. And the environment contributing to the production structure of genetic information in South Korea today comprises 'sangmyung gonghak'(or life engineering) discourse and non-governmental organization movement.

• Journal of The Korean Astronomical Society
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• v.29 no.spc1
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• pp.63-64
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• 1996

The nature of distant faint blue field galaxies remains a mystery, despite the fact that much attention has been devoted to this subject in the last decade. Galaxy counts, particularly those in the optical and near ultraviolet bandpasses, have been demonstrated to be well in excess of those expected in the 'no-evolution' scenario. This has usually been taken to imply that galaxies were brighter in the past, presumably due to a higher rate of star formation. More recently, redshift surveys of galaxies as faint as B$\~$24 have shown that the mean redshift of faint blue galaxies is lower than that predicted by standard evolutionary models (de-signed to fit the galaxy counts). The galaxy number count data and redshift data suggest that evolutionary effects are most prominent at the faint end of the galaxy luminosity function. While these data constrain the form of evolution of the overall luminosity function, they do not constrain evolution in individual galaxies. We are carrying out a series of observations as part of a long-term program aimed at a better understanding of the nature and amount of luminosity evolution in individual galaxies. Our study uses the luminosity-linewidth relation (Tully-Fisher relation) for disk galaxies as a tool to study luminosity evolution. Several studies of a related nature are being carried out by other groups. A specific experiment to test a 'no-evolution' hypothesis is presented here. We have used the AUTOFIB multifibre spectro-graph on the 4-metre Anglo-Australian Telescope (AAT) and the Rutgers Fabry-Perot imager on the Cerro Tolalo lnteramerican Observatory (CTIO) 4-metre tele-scope to measure the internal kinematics of a representative sample of faint blue field galaxies in the red-shift range z = 0.15-0.4. The emission line profiles of [OII] and [OIII] in a typical sample galaxy are significantly broader than the instrumental resolution (100-120 km $s^{-l}$), and it is possible to make a reliable de-termination of the linewidth. Detailed and realistic simulations based on the properties of nearby, low-luminosity spirals are used to convert the measured linewidth into an estimate of the characteristic rotation speed, making statistical corrections for the effects of inclination, non-uniform distribution of ionized gas, rotation curve shape, finite fibre aperture, etc.. The (corrected) mean characteristic rotation speed for our distant galaxy sample is compared to the mean rotation speed of local galaxies of comparable blue luminosity and colour. The typical galaxy in our distant sample has a B-band luminosity of about 0.25 L$\ast$ and a colour that corresponds to the Sb-Sd/Im range of Hub-ble types. Details of the AUTOFIB fibre spectroscopic study are described by Rix et al. (1996). Follow-up deep near infrared imaging with the 10-metre Keck tele-scope+ NIRC combination and high angular resolution imaging with the Hubble Space Telescope's WFPC2 are being used to determine the structural and orientation parameters of galaxies on an individual basis. This information is being combined with the spatially resolved CTIO Fabry-Perot data to study the internal kinematics of distant galaxies (Ing et al. 1996). The two main questions addressed by these (preliminary studies) are: 1. Do galaxies of a given luminosity and colour have the same characteristic rotation speed in the distant and local Universe? The distant galaxies in our AUTOFIB sample have a mean characteristic rotation speed of $\~$70 km $s^{-l}$ after correction for measurement bias (Fig. 1); this is inconsistent with the characteristic rotation speed of local galaxies of comparable photometric proper-ties (105 km $s^{-l}$) at the > $99\%$ significance level (Fig. 2). A straightforward explanation for this discrepancy is that faint blue galaxies were about 1-1.5 mag brighter (in the B band) at z $\~$ 0.25 than their present-day counterparts. 2. What is the nature of the internal kinematics of faint field galaxies? The linewidths of these faint galaxies appear to be dominated by the global disk rotation. The larger galaxies in our sample are about 2"-.5" in diameter so one can get direct insight into the nature of their internal velocity field from the $\~$ I" seeing CTIO Fabry-Perot data. A montage of Fabry-Perot data is shown in Fig. 3. The linewidths are too large (by. $5\sigma$) to be caused by turbulence in giant HII regions.

• Asia pacific journal of information systems
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• v.18 no.2
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• pp.41-72
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• 2008

The purpose of this study is the investigation of the effects of user participation, network effect, social influence, and usefulness on stickiness and continued use on Internet communities. In this research, stickiness refers to repeat visit and visit duration to an Internet community. Continued use means the willingness to continue to use an Internet community in the future. Internet community-based companies can earn money through selling the digital contents such as game, music, and avatar, advertizing on internet site, or offering an affiliate marketing. For such money making, stickiness and continued use of Internet users is much more important than the number of Internet users. We tried to answer following three questions. Fist, what is the effects of user participation on stickiness and continued use on Internet communities? Second, by what is user participation formed? Third, are network effect, social influence, and usefulness that was significant at prior research about technology acceptance model(TAM) still significant on internet communities? In this study, user participation, network effect, social influence, and usefulness are independent variables, stickiness is mediating variable, and continued use is dependent variable. Among independent variables, we are focused on user participation. User participation means that Internet user participates in the development of Internet community site (called mini-hompy or blog in Korea). User participation was studied from 1970 to 1997 at the research area of information system. But since 1997 when Internet started to spread to the public, user participation has hardly been studied. Given the importance of user participation at the success of Internet-based companies, it is very meaningful to study the research topic of user participation. To test the proposed model, we used a data set generated from the survey. The survey instrument was designed on the basis of a comprehensive literature review and interviews of experts, and was refined through several rounds of pretests, revisions, and pilot tests. The respondents of survey were the undergraduates and the graduate students who mainly used Internet communities. Data analysis was conducted using 217 respondents(response rate, 97.7 percent). We used structural equation modeling(SEM) implemented in partial least square(PLS). We chose PLS for two reason. First, our model has formative constructs. PLS uses components-based algorithm and can estimated formative constructs. Second, PLS is more appropriate when the research model is in an early stage of development. A review of the literature suggests that empirical tests of user participation is still sparse. The test of model was executed in the order of three research questions. First user participation had the direct effects on stickiness(${\beta}$=0.150, p<0.01) and continued use (${\beta}$=0.119, p<0.05). And user participation, as a partial mediation model, had a indirect effect on continued use mediated through stickiness (${\beta}$=0.007, p<0.05). Second, optional participation and prosuming participation significantly formed user participation. Optional participation, with a path magnitude as high as 0.986 (p<0.001), is a key determinant for the strength of user participation. Third, Network effect (${\beta}$=0.236, p<0.001). social influence (${\beta}$=0.135, p<0.05), and usefulness (${\beta}$=0.343, p<0.001) had directly significant impacts on stickiness. But network effect and social influence, as a full mediation model, had both indirectly significant impacts on continued use mediated through stickiness (${\beta}$=0.11, p<0.001, and ${\beta}$=0.063, p<0.05, respectively). Compared with this result, usefulness, as a partial mediation model, had a direct impact on continued use and a indirect impact on continued use mediated through stickiness. This study has three contributions. First this is the first empirical study showing that user participation is the significant driver of continued use. The researchers of information system have hardly studies user participation since late 1990s. And the researchers of marketing have studied a few lately. Second, this study enhanced the understanding of user participation. Up to recently, user participation has been studied from the bipolar viewpoint of participation v.s non-participation. Also, even the study on participation has been studied from the point of limited optional participation. But, this study proved the existence of prosuming participation to design and produce products or services, besides optional participation. And this study empirically proved that optional participation and prosuming participation were the key determinant for user participation. Third, our study compliments traditional studies of TAM. According prior literature about of TAM, the constructs of network effect, social influence, and usefulness had effects on the technology adoption. This study proved that these constructs still are significant on Internet communities.

• 한국지구물리탐사학회:학술대회논문집
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• 2004.08a
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• pp.70-83
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• 2004

The safety diagnosis of cultural assets is Primarily focused on its non-destructiveness. Research on the nondestructive diagnosis and conservation of masonry cultural heritage is the key which is considered by technologic kernel. Geophyscial Prospecting as nondestructive diagnostic technology plays an important role in the characterization of the foundation of stone pagodas. It is natural that understanding of shallow subsurface condition beneath them is essential for their structural safety diagnosis. As an example, the nondestructive geophysical methods were applied to two three-story stone pagodas, Seokgatap (height 10.8 m, width 4.4 m, weight 82.3 ton) and Dabotap (height 10.4 m, width 7.4 m, weight 123.2 ton) which were built in 791 at Bulkuksa temple. An earlier archaeological investigation shows that stone pagodas have experienced severe weathering process and are slightly leaning, which will threaten their stability At the base part of Dabotap, an offset of the stone alignment is also observed. Direct measurements of ultrasonic velocities was introduced for the mechanical properties of the stone The velocity ranges of ultrasonic waves for Dabotap and Seokgatap are 1217${\~}$4403 m/s and 584${\~}$5845 m/s, respectively, and the estimated averages of the uniaxial compressive strength are 463 kg/$cm^2$ and 409 kg/$cm^2$, respectively. Site characteristics, around the pagodas are determined by the measurement of multiple properties such as seismic velocity, resistivity, image of ground-penetrating radar, On the basis of the higher velocity structure, the site of Seokgatap appears to have solider stability than the Seokgatap site. Near the pagodas, higher(up to 2200 $\Omega$m) resistivity is present whereas their outskirts have as low as 200 $\Omega$m. By the combined results of each geophyscial methods, the subsurface boundaries of two stone pagodas are revealed. The Dabotap site is in the form of an octagon having 6-m-long side with the depth of ${\~}$4 m, whereas the Seokgatap site is the 8 ${\times}$ 10 m rectangle with the depth of 3 m. These subsurface structures appear to reflect the original foundations constructed against the stone load of ${\~}8 ton/m^2$. At the subsurface beneath the northeast of each pagoda, low seismic velocity as well as low resistivity is prominent. It is interpreted to represent the weak underground condition which Is the possible cause of the slightly leaning pagodas toward the NNW.

• Geophysics and Geophysical Exploration
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• v.11 no.1
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• pp.1-14
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• 2008

We present a method for interpreting seismic records with arrivals and waveforms having characteristics which could be generated by extremely inhomogeneous velocity structures, such as non-typical oceanic crust, decollement at subduction zones, and seamounts in oceanic regions, by comparing them with synthetic waveforms. Recent extensive refraction and wide-angle reflection surveys in oceanic regions have provided us with a huge number of high-resolution and high-quality seismic records containing characteristic arrivals and waveforms, besides first arrivals and major reflected phases such as PmP. Some characteristic waveforms, with significant later reflected phases or anomalous amplitude decay with offset distance, are difficult to interpret using only a conventional interpretation method such as the traveltime tomographic inversion method. We find the best process for investigating such characteristic phases is to use an interactive interpretation method to compare observed data with synthetic waveforms, and calculate raypaths and traveltimes. This approach enables us to construct a reasonable structural model that includes all of the major characteristics of the observed waveforms. We present results here with some actual observed examples that might be of great help in the interpretation of such problematic phases. Our approach to the analysis of waveform characteristics is endorsed as an innovative method for constructing high-resolution and high-quality crustal structure models, not only in oceanic regions, but also in the continental regions.

• Economic and Environmental Geology
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• v.34 no.1
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• pp.133-146
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• 2001

We report the results of structural field observation and measurement of anisotropy of magnetic susceptibility (AMS) of the diamictitic Hwanggangri Formation distributed in Chungju-Suanbo area of the Okchon Belt, Korea. The outcrops of the Hwanggangri Formation show two types of cleavage in general: slaty cleavage (SI) and crenulation cleavage (5z). 5] cleavage is, however, well observable only in the notheastem (NE) part of study area, while overwhelmed by 52 cleavage in the southwestern (5W) part, indicating stronger later deformation in 5W part of the study area. This partitioning of the study area is corroborated by both IRM and AMS parameters: NE part of the study area is characterized by higher IRM intensity, higher bulk magnetic susceptibility, higher AM5 degree, and by oblate shape of magnetic susceptibility ellipsoid. Their values become drastically lowered toward southwest, and reach to a stable minimum in the whole 5W part of the study area. In addition, degree of both metamorphism and deformation tends to increase gradually from northeast toward southwest and also from northwest toward southeast in the study area. Based on the distribution pattern of the principal axes ( $k_1, k_2, k_3$ axes) of magnetic anisotropy ellipsoids revealed in the NE part of the study area, three episodes of deformation ( $D_1, D_2, D_3$ ) are recognized: D_1$ deformation produced $S_2$ cleavage with NE-5W trend, which is caused by a strong NW-SE tlattening of a coaxial pure shear. $D_2$ deformation produced 5z cleavage characterized by a non-coaxial deformation. It was caused by a ductile or semi-ductile thrusting toward NW and concurrent sinistral shearing along $S_2$ cleavage plane. Lastly, $D_3$ deformation produced tlexural folding of all previous structures with a nearly horizontal NE fold axis. Distribution pattern of the principal axes of magnetic anisotropy ellipsoid from the SW part of the study area, on the other hand, does not show any coherency among sites or samples. We interpret that this dispersed pattern of $k_1, k_2, k_3$ axes together with lower anisotropy strength indicates that magnetic fabrics in the SW part have been disturbed either by a superposition of strong deformation/metamorphism or by a kind of reciprocal strain due to an overlapping of $D_1$ and $D_2$ or by both processes.

• Journal of Energy Engineering
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• v.23 no.4
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• pp.61-72
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• 2014

This paper analyzed transition pathways toward a low carbon society in Korea to meet global $2^{\circ}C$ climate target. Lower economic growth, industrial structure change, enhance of energy demand management, decarbonization of power sector, and replacement of low carbon fuel could reduce greenhouse gas (GHG) emission from fuel combustion in 2050 by 67% against in 2011, or by 74% against in BAU (Business-As-Usual). Lower economic growth contributes to 13% of cumulative emission reduction relative to BAU, industrial structure change 9%, enhance of energy demand management 72%, decarbonization of power sector 5% and replacement of low carbon fuel 1% respectively. Final energy consumption in 2050 needs to be reduced to 50% relative to 2011, or to 41% relative to BAU. Nuclear, coal and renewable energy represent 31%, 40%, 2% respectively among electricity generation in 2011, but 38%, 2%, 32% in 2050. CCS represents 23% of total generation in 2050. Emission intensity of electricity in 2050 was decreased to 19% relative to 2011, or to 24% relative to BAU. Primary energy in 2050 was decreased to 64% compared to 2011, or to 44% compared to BAU. Final energy consumption, primary energy supply and GHG emission from fuel combustion from 1990 to 2011 increased by 176%, 197%, 146%. Radical change from historical trend is required to transit toward a low carbon society by 2050. Appropriate economic growth, structural change to non-energy intensive industries, energy technology research, development and deployment (RD&D) in terms of enhancement of energy efficiency and low carbon energy supply technologies, and fuel change to electricity and renewable energy are key instruments.

• Asia pacific journal of information systems
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• v.19 no.2
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• pp.157-178
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• 2009

Corporate credit rating is a very important factor in the market for corporate debt. Information concerning corporate operations is often disseminated to market participants through the changes in credit ratings that are published by professional rating agencies, such as Standard and Poor's (S&P) and Moody's Investor Service. Since these agencies generally require a large fee for the service, and the periodically provided ratings sometimes do not reflect the default risk of the company at the time, it may be advantageous for bond-market participants to be able to classify credit ratings before the agencies actually publish them. As a result, it is very important for companies (especially, financial companies) to develop a proper model of credit rating. From a technical perspective, the credit rating constitutes a typical, multiclass, classification problem because rating agencies generally have ten or more categories of ratings. For example, S&P's ratings range from AAA for the highest-quality bonds to D for the lowest-quality bonds. The professional rating agencies emphasize the importance of analysts' subjective judgments in the determination of credit ratings. However, in practice, a mathematical model that uses the financial variables of companies plays an important role in determining credit ratings, since it is convenient to apply and cost efficient. These financial variables include the ratios that represent a company's leverage status, liquidity status, and profitability status. Several statistical and artificial intelligence (AI) techniques have been applied as tools for predicting credit ratings. Among them, artificial neural networks are most prevalent in the area of finance because of their broad applicability to many business problems and their preeminent ability to adapt. However, artificial neural networks also have many defects, including the difficulty in determining the values of the control parameters and the number of processing elements in the layer as well as the risk of over-fitting. Of late, because of their robustness and high accuracy, support vector machines (SVMs) have become popular as a solution for problems with generating accurate prediction. An SVM's solution may be globally optimal because SVMs seek to minimize structural risk. On the other hand, artificial neural network models may tend to find locally optimal solutions because they seek to minimize empirical risk. In addition, no parameters need to be tuned in SVMs, barring the upper bound for non-separable cases in linear SVMs. Since SVMs were originally devised for binary classification, however they are not intrinsically geared for multiclass classifications as in credit ratings. Thus, researchers have tried to extend the original SVM to multiclass classification. Hitherto, a variety of techniques to extend standard SVMs to multiclass SVMs (MSVMs) has been proposed in the literature Only a few types of MSVM are, however, tested using prior studies that apply MSVMs to credit ratings studies. In this study, we examined six different techniques of MSVMs: (1) One-Against-One, (2) One-Against-AIL (3) DAGSVM, (4) ECOC, (5) Method of Weston and Watkins, and (6) Method of Crammer and Singer. In addition, we examined the prediction accuracy of some modified version of conventional MSVM techniques. To find the most appropriate technique of MSVMs for corporate bond rating, we applied all the techniques of MSVMs to a real-world case of credit rating in Korea. The best application is in corporate bond rating, which is the most frequently studied area of credit rating for specific debt issues or other financial obligations. For our study the research data were collected from National Information and Credit Evaluation, Inc., a major bond-rating company in Korea. The data set is comprised of the bond-ratings for the year 2002 and various financial variables for 1,295 companies from the manufacturing industry in Korea. We compared the results of these techniques with one another, and with those of traditional methods for credit ratings, such as multiple discriminant analysis (MDA), multinomial logistic regression (MLOGIT), and artificial neural networks (ANNs). As a result, we found that DAGSVM with an ordered list was the best approach for the prediction of bond rating. In addition, we found that the modified version of ECOC approach can yield higher prediction accuracy for the cases showing clear patterns.