• The Journal of Asian Finance, Economics and Business
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• v.9 no.5
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• pp.295-303
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• 2022

This study investigates the impact of globalization, coal consumption, and economic growth on CO₂ emissions in Malaysia by applying the Kuznets Environmental Curve model. The study employed the Autoregressive Distributed Lag modeling technique on time series data over the period of 1970-2018 to determine the short and long-run relationship between CO₂ emissions and a number of variables, including globalization, coal consumption, and economic growth. The results show that globalization increase CO₂ emissions in both the short and long run in Malaysia. Furthermore, the results reveal that economic growth and coal consumption degrade the environmental quality by accelerating the CO₂ emissions in the short-run and long run. As a result, the findings validate the Kuznets Environmental Curve hypothesis of an inverted U-shaped relationship between economic growth and CO₂ emissions in the long run for Malaysia. The findings of this study suggest that higher globalization levels and usage of coal consumption degrade the environmental quality in Malaysia. The findings also indicate the effect of economic growth on environmental degradation is positive at the initial stage but improves after the economy achieves a threshold level of income per capita in the economic development process with an inverted U-shaped pattern in the long run.

• Journal of Korea Port Economic Association
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• v.33 no.1
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• pp.47-59
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• 2017

The objective of this study is to determine the short run and long run dynamics between maritime import volume (IMV), industrial production (IP), and real effective exchange rate (REER) of the Korean Won over the REER of certain major currencies (US Dollar, Chinese Yuan, and Japanese Yen) in Korea's Jeonnam province. The Johansen and Juselius cointegration results reveal that at least one cointegration vector or long-run relationship exists. Hence, this study estimated the long run equilibrium equation, which indicates that both IP and REER are inelastic, although the former is bigger than the latter. Moreover, the dynamic causality analysis reveals short and long-run unidirectional causality from IP and REER to IMV in all three models. Further, in all the models, the results indicate short run unidirectional causality from REER to IP. In addition, the impulse response (IR) results show that the impulse of IP and REER decayed after four months. Additionally, the IR analysis results indicate that the REER of the Korean Won over the REER of Japanese Yen is the biggest with respect to the impact of relative REER on IP, which is the proxy variable of regional real income. Thus, empirical results indicated that real income and REER play an important role in determining the Jeonnam's maritime import demand behavior in the short run and long run. More importantly, substantial actions reducing unexpected fluctuation of the REER and real income based on micro and macro economic policies will increase the imported volume in the ports of the Jeonnam province.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.2
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• pp.143-149
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• 2020

Low inflation and sustainable growth have been the major macroeconomic goals being pursued by every developing country, Vietnam inclusive. The effect of inflation on economic growth has been intensively analyzed by a variety of studies, but the empirical evidence more often than not remains controversial and ambiguous. One common hypothesis of previous studies is that they have assumed that the effect of inflation on growth is symmetric. The main purpose of this study is to investigate the asymmetric effect of inflation and money supply on economic growth using the Nonlinear Autoregressive Distributed Lag approach introduced by Shin, Byungchul, and Greenwood-nimmo (2013) for Vietnam over the period 1990-2017. Empirical results provide evidence that the effects of inflation on economic growth are negative and asymmetric in the long run. The impact of money supply on growth is positive in both the short-run and long-run. Accordingly, the impact of the increase in the inflation rate is bigger than the decreasing in the long-run. This different impact is significant and high inflation will destruct economic activities. As a result, the study provides empirical evidence for the authorities to plan monetary policies and control the rate of inflation to achieve sustainable economic development in the long-run.

• Disaster and Security
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• v.5 no.1
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• pp.93-100
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• 2015

Although many years passed since 'The Legislative bill on the support of voluntary activities of enterprises for disaster reduction'(hereinafter referred to as 'enterprise disaster reduction act') has been first enacted in 2007, BCMS is still not activated in our society. In contrast, after 911 Terror, importance of BCM is getting magnified and standardization research & institutionalization i s a lso proceeding i all over world. Lately, Disaster preventing activities is urgently needed like the sinking of 'Sewol ferry'. So the purpose of this paper is proposed for establishment of 'BCMS' and activation of the certificate system for Best-Run Business by analyzing the problem of 'enterprise disaster reduction act' and weak of activation as following. First, propel changing the policy of self-regulated participation to mandatory about the certificate system for Best-Run Business from public entity to government ministry and it is able to activate by propelling demo business of the certificate system for Best-Run Business. Second, public entity that has been given the certificate system for Best-Run Business by affiliating with Disaster Management Assessment of government management can be exempted from Disaster Management Assessment or those entity can arrange for connectivity acquisition method of 'Excellent rate'. Third, to publicize the activation of the law mentioned above, makes public entity r ecognizable by incorporating 'BCMS' into National safety management plan and establishment of National critical infrastructures security plan. Fourth, it should be reviewed to improving the related act regarding to inclusion of public organizations as well as private enterprises.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.8
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• pp.281-287
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• 2020

In capital budgeting practices, investment project evaluations based on the net present value (NPV) and the internal rate of return (IRR) represent the traditional evaluation techniques. Compared with the traditional methods, the modified internal rate of return (MIRR) gives the opportunity to evaluate an investment in certain projet, while taking the changes in cash flows over time and issuing shares such as dividing shares, bonuses, and dividend for each end of the investment year into account. Therefore, this study aims to evaluate an investment in the Malaysian construction sector utilizing financial data for 39 public listed companies operating in the Malaysian construction sector over the period from Jan 1, 2007, to December 30, 2018, based on the MIRR method. Stochastic was studied in this study to estimate the estimated probability by applying the Markov chain model to the MIRR method where the transition matrix has two possible movements of either Good (G) or Bad (B). it is found that the long-run probability of getting a good investment is higher than the probability of getting a bad investment in the long-run, where were the probabilities of good and bad are 0.5119, 0.4881, respectively. Hence, investment in the Malaysian construction sector is recommended.

• Proceedings of the Korean Operations and Management Science Society Conference
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• 2000.04a
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• pp.349-356
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• 2000

EPC(Engineering process control) is usually applied to processes in which successive observations ate related over time and where the mean drifts dynamically. This paper aims to literature surrey concerned about EPC theory developments and their applications including macGregor model as Basic EPC model, feedback controllers, feedforward controllers, run-to-run controllers, MMSE controllers, PID model and PI adjustment model and so on. We suggest some perspective area for further study.

• Journal of Climate Change Research
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• v.6 no.4
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• pp.389-397
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• 2015

The changes in the teleconnection associated with El Nin?o-Southern Oscillation (ENSO) over the East Asia and North Pacific under greenhouse warming are analyzed herein by comparing the Historical run (1970/1971~1999/2000) and the Representative Concentration Pathway (RCP) 4.5 run with 31 climate models, participated in the Coupled Model Intercomparison Project Phase 5 (CMIP5). It is found that CMIP5 models have diverse systematic errors in simulating the ENSO teleconnection pattern from model to model. Therefore, we select 21 models based on the models' performance in simulating teleconnection pattern in the present climate. It is shown that CMIP5 models tend to project an overall weaker teleconnection pattern associated with ENSO over East Asia in the future climate than that in the present climate. It can be also noted that the cyclonic flow over the North Pacific is weakened and shifted eastward. However, uncertainties for the ENSO teleconnection changes still exist, suggesting that much consistent agreements on this future teleconnections associated with ENSO should be taken in a further study.

• Journal of Energy Engineering
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• v.25 no.2
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• pp.37-44
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• 2016

The demand for electricity has a considerable impact on various energy sectors since electricity is generated from various energy sources. This paper attempts to estimate the electricity demand function and obtain some quantitative information on price and income elasticities of the demand. To this end, we apply a lagged dependent variable model to derive long-run as well as short-run elasticities using the time-series data over the period 1991-2014. Our dependent variable is annual electricity demand. The independent variables include constant term, real price of electricity, and real gross domestic product. The results show that the short-run price and income elasticities of the electricity demand are estimated to be -0.142 and 0.866, respectively. They are statistically significant at the 5% level. That is, the electricity demand is in-elastic with respect to price and income changes in the short-run. The long-run price and income elasticities of the electricity demand are calculated to be -0.210 and 1.287, respectively, which are also statistically meaningful at the 5% level. The electricity demand is still in-elastic with regard to price change in the long-run. However, the electricity demand is elastic regarding income change in the long-run. Therefore, this indicates that the effect of demand-side management policy through price-control is restrictive in both the short- and long-run. The growth in electricity demand following income growth is expected to be more remarkable in the long-run than in the short-run.

• Proceedings of the KSR Conference
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• 2010.06a
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• pp.1814-1820
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• 2010

Korean Train Express (KTX) has been commercially operating and achieving elevation on transport capacity since 2004. And the first hish-speed prototype test train, HSR-350x, was developed and succeeded in testing of running over 350km/h. Now KTX-II based on HSR-350x was started in service run. The new high-speed train development project, HEMU-400x project, has started since 2007. The protype train is being designed and manufactured. After the train are developed completely, it will run on the commercial line and will be test to verify the estimated performance. The authors devised the performance evaluation method and process of the HEMU-400x prototype system. And we introduce the definite performance test items and the method to vitrificate them in this paper.

• The Korean Journal of Applied Statistics
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• v.25 no.6
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• pp.897-915
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• 2012

This paper examines the relationship between the stock and futures markets in terms of lead-lag relationship, correlation and the hedge ratio using wavelet analysis. The basic finding is that the relationship between the two markets significantly depends on the time-scale. First, there is a feedback relationship between the stock and futures markets in the long-run scale; however, weaker evidence is observed in shorter-run scales. Second, wavelet correlation between the two markets increases for a longer time scale. Third, the hedge ratio and the effectiveness of hedging strategies increase as the investment horizon gets longer. The results in this paper indicate that the stock and futures series are perfectly correlated in the long run and are tied together over long horizons.