• Human Ecology Research
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• v.53 no.4
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• pp.375-390
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• 2015

This study was designed to understand the residential experience of Korean women living in tropical country. For qualitative research, interviewees were selected by snowball sampling among Korean women living in Malaysia for over 20 years. The selection criteria for interviewees included husband's nationality, occupational experience, future living plan, frequency of travel to Korea. In-depth group and individual interviews were conducted from August 23 to October 7 2014. Subsequently (1) interviewees' general residential experiences in Malaysia were summarized, (2) interviewee's identity and lifestyle with housing pathways approach were clarified, (3) interviewees' residential experiences in 5 issues, reciprocity in residential area, intention of environmental change, meaning of housing and interaction, housing adaptation, and residential satisfaction/dissatisfaction were prescribed and interpreted. In conclusion, the reflection of interviewees' experiences in tropical country, suggested variations of housing structure type within a residential complex, air well and pocket by setback in building block for improving ventilation and noise prevention from neighbors, and ceiling fans in the house were suggested for the upcoming subtropical climate in Korea. Full option and minus options were also suggested for the presale market to reduce before occupancy remodeling needs. The research results implies valuable suggestions for a multicultural society, ecological housing and stronger communities.

• Ceramist
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• v.21 no.4
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• pp.312-330
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• 2018

Energy storage/conversion has become crucial not only to meet the present energy demand but also more importantly to sustain the modern society. Particularly, electrical energy storage is critical not only to support electronic, vehicular and load-levelling applications but also to efficiently commercialize renewable energy resources such as solar and wind. While Li-ion batteries are being intensely researched for electric vehicle applications, there is a pressing need to seek for new battery chemistries aimed at stationary storage systems. In this aspect, Zn-ion batteries offer a viable option to be utilized for high energy and power density applications since every intercalated Zn-ion yields a concurrent charge transfer of two electrons and thereby high theoretical capacities can be realized. Furthermore, the simplicity of fabrication under open-air conditions combined with the abundant and less toxic zinc element makes aqueous Zn-ion batteries one of the most economical, safe and green energy storage technologies with prospective use for stationary grid storage applications. Also, Zn-ion batteries are very safe for next-generation technologies based on flexible, roll-up, wearable implantable devices the portable electronics market. Following this advantages, a wide range of approaches and materials, namely, cathodes, anodes and electrolytes have been investigated for Zn-ion batteries applications to date. Herein, we review the progresses and major advancements related to aqueous. Zn-ion batteries, facilitating energy storage/conversion via $Zn^{2+}$ (de)intercalation mechanism.

• Journal of Labour Economics
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• v.43 no.4
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• pp.87-116
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• 2020

This study empirically investigates the possible negative relationship between the number of job offers and the job satisfaction in the Korean labor market, using the Korea Labor Income Panel Study, where the number of job offers of young workers are collected in the third wave. Results show that the number of job offers is negatively related to every year job satisfaction, this effect is smaller for higher earning and older individuals, and there is a gender heterogeneity. We discuss that having more job offers does not necessarily increase the workers' utility, which is a general monotonic assumption in the traditional economics. We suggest that having a large number of job offers allowing them to choose the best option can be inefficient itself, and therefore it is better to focus on qualitative matching rather than increasing just the absolute number of job opportunities.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.1
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• pp.723-732
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• 2021

On September 25, 2015, 193 countries of the United Nations (UN) General Assembly, signed the 2030 Agenda to work towards attaining 17 Sustainable Development Goals (SDGs) and its associated 169 targets and 232 indicators. With one of the largest renewable energy programs, India is well-poised to be a role model for low-carbon transformation to other Asian countries. However, bridging the financing gap is critical to ensure that the country meets its SDG targets. Though the SDGs identified by the UN are broad-based and interdependent, for ease of analysis we have grouped them into five themes - people, planet, prosperity, peace, and partnership - based on existing UN models. This paper investigates the financing gap for 'green' projects linked to planet-related SDG targets in India. It builds an argument for utilizing green bonds as an instrument to bridge the gap. After establishing the potential of green bonds in raising the finance to meet India's planet-related SDG targets, we look at the current policy landscape and suggest recommendations for successful execution. The paper concludes that deepening of the corporate fixed income securities market and firming up guidelines in line with India's climate action plans are inevitable before green bonds can be considered a viable financing option.

• Journal of Information Processing Systems
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• v.18 no.5
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• pp.637-649
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• 2022

Investors aim to increase their profitability by investing in the stock market. An adroit strategy for minimizing related risk lies through diversifying portfolio operationalization. In this paper, we propose a six-step stocks portfolio selection model. This model is based on data mining clustering techniques that reflect the ensuing impact of the political, economic, legal, and corporate governance in Mongolia. As a dataset, we have selected stock exchange trading price, financial statements, and operational reports of top-20 highly capitalized stocks that were traded at the Mongolian Stock Exchange from 2013 to 2017. In order to cluster the stock returns and risks, we have used k-means clustering techniques. We have combined both k-means clustering with Markowitz's portfolio theory to create an optimal and efficient portfolio. We constructed an efficient frontier, creating 15 portfolios, and computed the weight of stocks in each portfolio. From these portfolio options, the investor is given a choice to choose any one option.

• Asia-Pacific Journal of Business
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• v.14 no.4
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• pp.319-330
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• 2023

Purpose - The purpose of this paper is to examine the connectedness between categorical economic policy uncertainty (monetary, fiscal, trade and foreign exchange policy uncertainty) indexes and option-implied volatility index in Korea, Japan and the US. Design/methodology/approach - This paper employs the Diebold-Ylmaz (2012) model based on a VAR and generalized forecast error variance decomposition. This paper also conducts regression analyses to investigate whether the volatility indexes are explained by categorical policy uncertainty indexes. Findings - First, we find the total connectedness is stronger in Korea and Japan relative to the US. Second, monetary, fiscal, and foreign exchange policy uncertainty indexes are connected to each other but trade policy uncertainty index is not. Third, the volatility index in Japan and the US is mainly associated with monetary policy uncertainty while the volatility index in Korea is explained by fiscal policy uncertainty index. Research implications or Originality - To our knowledge, this is the first study to investigate the connectedness among categorical policy uncertainty indexes and the volatility index in Korea, Japan, and the US. The empirical results on the connectedness suggest that transparent policy and communication with the market in one type of policy would reduce the uncertainty in other policies.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.15 no.8
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• pp.4863-4873
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• 2014

The Korean construction industry has played a major role among all industries despite its relative small ratio of all. The global economic crisis, however, has adversely affected the construction industry. Therefore, the Korean government implemented a corporate restructuring process to ensure the stability of the financial market. The selection standard on workout enterprises by the government is based on two perspectives: (1) external factors, including macroeconomic indices and (2) internal factors, including financial statements of private enterprises. On the other hand, if considering the characteristics of the construction industry, a certain construction company may not be evaluated only by its financial statements. In other words, a valuation process that utilizes the financial statements only can be concluded to be irrational. Accordingly, this study aims to provide the valuation model, which embraces the characteristics of workout firms, and determines their implications. To accomplish this, each enterprise valuation was measured using DCF and Black Scholes models, and by comparing such results with their market value, each enterprise was determined to be either under or over-valued. The results of this study verified that the valuations of 2 workout companies (out of 4) showed a higher value than the market value.

• The Korean Journal of Financial Management
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• v.24 no.1
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• pp.149-182
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• 2007

This study examines the determinants of the long-run stock price performance of the firms that granted stock options between 1997 and 2002. We divide the sample into the firms run by the owner and those run by the professional manager. If the primary reason for granting stock options is reduction of the agency costs between the manager and shareholders, the effect of stock options is likely to be more pronounced in the firms run by the professional manager. We find that the long-run abnormal returns of the firms run by the professional manager are negatively associated with the shareholdings by the manager and the book-to-market value and are positively associated with the earnings growth and the size of the outstanding stock options. In contrast, the long-run abnormal returns of the firms run by the owner are negatively associated with the cash flows rate and the sales growth rate and are positively associated with the firm size. This is consistent with the argument that the agency costs arising from the conflicts between the manager and shareholders are an important determinant of the post-stock option granting long-run stock price performance only in the firms run by the professional manager. The results also suggest that stock options in the firms run by the owner are likely to be used for the purposes such as additional compensation, a signaling device, a means that reduce the agency costs within firms.

• The Korean Journal of Financial Management
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• v.21 no.1
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• pp.205-229
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• 2004

The deviation from put-call parity condition may affect market prices since it provides an opportunity of arbitrage to many participants. This study uses the KOSPI200 index data and examines the interdependence among spot, futures, and options contracts by examining whether the deviations from the parity have significant roles in price formation. Whenever the parity condition is violated, the deviation tends to affect the prices significantly in most markets. The results show that positive values of deviation are associated with the fall of the prices in the spot and put option contracts and the rise of the call option premiums, thus decreasing the deviations. Also, the decreasing impact of deviations lasts for at Beast an hour in most markets. Futures prices, however, do not show clear relations with the deviations, which suggests the possibility that futures markets lead other markets.

• Journal of Venture Innovation
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• v.1 no.1
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• pp.83-98
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• 2018

This paper makes a theoretical approach to the differences between transaction tax and capital gains tax when the financial instruments are traded and imposed taxes in K-OTC market, a newly emerging off-board market. Since it is difficult to reduce risk to the level which investors would like to pursue - depending on the taxation methods of portfolio-composed financial instruments - when it comes to forming a synthetic bond to hedge risk, this paper also seeks for effective taxation methods to make this applicable. First of all, to thoroughly review the taxation balance of synthetic bonds, this paper analyzed the effects of the transaction tax and capital gains tax imposed upon synthetic bonds according to the changes in final stock price and strike price in K-OTC market, and analyzed after-tax profit differences among them depending on whether income tax deduction took place or not. As a result of the research upon the tax gap in transaction tax and capital gains tax according to the changes of final stock prices, it was shown that imposing transaction tax is more likely to be effective for some level of risk hedging with replicating portfolio considering taxation policies and financial markets, since the effect of the transaction tax has a much lower tax gap than that of capital gains tax. In addition, in relation to whether income tax deduction was permitted or not, it was proved that the effect of the transaction tax and the capital gains tax vary depending on the variation in the strike price. Above all, it was shown that if the strike price is lower than the stock price, the transaction tax will be less affected by the existence of income tax deduction than the capital gains tax, while both will be equally affected by the existence of income tax deduction if the strike price is higher than the stock price. Further study would be to demonstrate the validation of this in the K-OTC market with actual financial instruments and, also, to seek for a more systematic hedging method by using a ratio analysis approach to the calculation of the option transaction tax