• The Korean Journal of Financial Management
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• v.24 no.4
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• pp.163-199
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• 2007

This paper studies the stock market in which there are two types of investor, institutional and individual, whose information gathering and processing abilities are different. The institutional investor manages large funds and has powerful information sources. Whereas, the individual investor trades with a small amount of money and an information disadvantage. The model assumes that the institutional investor is more experienced and able to acquire relevant information earlier than the individual investor. On these assumptions, this paper shows a price continuation in the short run and a price reversal in the long run. The price continuation, or momentum, in the short run can be explained as follows. The early-informed institutional investor trades a stock, and as a result the stock price changes. Then the late-informed individual investor trades the same stock, and the stock price continues to move in the same direction in the short run. The reason for the price reversal in the long run is that since the individual investor has inferior information on the fundamental value of the stock, he tends to overreact to new information. So the stock price changes over its fundamental value initially and then regresses toward its fundamental value. In sum, both the price continuation and the price reversal are caused by the overreaction of the individual investor. The essay illustrates how these phenomena are stronger in the case where the proportion of the individual investor is higher. It also shows how the stock price goes up when the institutional investor buys a stock, while it goes down when the individual investor buys one.

• Journal of the Institute of Electronics Engineers of Korea CI
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• v.47 no.1
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• pp.30-40
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• 2010

The hard disk is one of the most frequently used storage in IPTV sep-top box. It has large storage capacity and provides fast I/O speed compared to its price whereas it causes high power consumption due to mechanical characteristics of spindle motor. In order to play streaming data in the set-top box, spindle motor of hard disk keeps active mode and it causes high power consumption. In this paper, We propose an offset-buffering and multi-mode spin-down method to reduce power consumption for streaming data playback. The offset-buffering inspects the user's viewing pattern and performs buffering based on the analysis of viewing pattern. So, it can maintain the status of spindle motor as idle mode for long time. Besides, it can reduce power consumption by spinning down according to offset-buffer size. The experimental result shows that proposed offset-buffering and multi mode spin-down method is about 28.3% and 12.5% lower than the full-Buffering method in terms of the power consumption and spin-down frequency, respectively.

• 한국정보디스플레이학회:학술대회논문집
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• 2002.08a
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• pp.1085-1087
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• 2002

To have cost down and get improved image quality and performance of plasma display panel, several factors have been developed including development of low price material and improvement in production for PDP front plate. In this work, viscosity and surface characteristics of transparent dielectric were investigated to find the optimum and low price materials fabrication condition of transparent dielectric paste. It was found that uniformity and transmissivity of green and fired dielectrics had some relationship with the kinds and content of binder, and solvent as well.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2009.05b
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• pp.131-135
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• 2009

Domestic construction industry is facing big difficulties by a worldwide financial crisis. Especially the deterioration of liquidity by the reject of banks for project financing and unsold housing project made a big problem on financing for the ongoing and new projects. To solve this, it is critical for construction companies. banking facilities and public organizations to cooperate and support each other. In this study, the methods which each part can do are investigated. Construction companies can do a price reduction, finance condition improvement for deposit and down payment, asset sale and cost reduction. And Public organizations can buy the assets of construction companies with proper price and ease the regulation to activate transactions of real estate. In the case of Banking facilities, they can support arrangement and liquidation of insolvent projects and so on.

• Proceedings of the KIEE Conference
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• 1998.11a
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• pp.115-116
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• 1998

A flyback converter that decreases ZVS resonant voltage by using ZVS capacitor is proposed. Because of high resonant voltage at ZVS convenient circuits use expensive devices of high power. The devices make the total price high. A circuit with ZVS capacitor is proposed to down the price. A practical converter can be constructed. Operation of the converter is analyzed and simulated. We compare experiment results with simulation results. We show that the system is identical with the simulated system.

• Current Industrial and Technological Trends in Aerospace
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• v.8 no.1
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• pp.12-22
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• 2010

The great recession which caused by financial crisis made steep rise of oil price and the serious problems of the aircraft industry. High oil price increases operating cost and the recession decreases air traffic. After a period of high book order and delivery from global economic recovery, the aircraft order fell down suddenly. Also the Aircraft price and lease rate deceased and the MRO market is reduced, too. But, the air cargo and passenger increase again since late of 2009. So, it is difficult to predict the market movement, most of the forecasters agreed that the air traffic and aircraft demand will grow gradually in long term with the growth of emerging markets like China, India and Africa. And more efficient, safe and clean aircraft is needed and will need in the market.

• Korean journal of food and cookery science
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• v.28 no.2
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• pp.89-96
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• 2012

The purpose of this study was to evaluate the importance and satisfaction with Korean food for foreigners living in Busan with consideration for nationalities, for the sake of improving satisfaction with Korean food. The research was performed using questionnaires and conducted from August 14 to September 30, 2011 for 376 foreigners in Busan. Total mean scores for the importance (4.01/5.00) and satisfaction (3.59/5.00) of Korean food attributes were significantly different (p<0.01). The gaps of the importance score and satisfaction score were -0.91 for cleanliness of food, -0.74 for taste, -0.70 for quality, and -0.68 for smell. Mean scores of satisfaction for Americans and Europeans (3.69) and Southeast Asians (3.78) were significantly (p<0.01) higher than those of Japanese (3.44) and Chinese (3.43) descent. Notably high importance and low satisfaction attributes of Korean food broken down by nationality were cleanliness for Americans/Europeans; quality and cleanliness for Japanese; texture and price for Chinese; and taste, smell, and price for Southeast Asians. Attributes rated with high importance and satisfaction were health benefits, nutrition, and quality for Americans/Europeans, Chinese, and Southeast Asians; taste and price for Americans/Europeans and Japanese; and cleanliness for Chinese and Southeast Asians.

• Journal of Distribution Science
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• v.18 no.12
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• pp.31-43
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• 2020

Purpose: This study examined how many determinant factors (service dimensions, food quality, and price perception) affect revisit intention. This practical concept is service quality (SERVQUAL), customer satisfaction, and repeated/revisit behavioral intention based on the theory of reasoned action (TRA). Research design, data and methodology: This research applied a hybrid mixed-method comprising exploratory and explanatory sequential design by Creswell (2014). The 400 responses were collected in four townships in Myanmar. This study drilled down to exploratory factor analysis (EFA) followed by confirmatory factor analysis (CFA) prior to test the hypothesized factor structure of all the variables resulted in the form of the goodness of fit. For further data analysis, structural equation modeling (SEM) was applied to test the relationships among the variables of the proposed model. Results: The results showed that perceived service quality, food quality, and price perception have direct effects on customer satisfaction and indirect effect on revisit intention. The perceived service quality has the most significant influence while the food quality has the least influence on customer satisfaction. Conclusions: The results are useful for the restaurant managers to better understand the significant strategic choice factors to improve higher quality service amongst restaurants both domestic and international under the stiff competition.

• The Journal of Industrial Distribution & Business
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• v.10 no.12
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• pp.35-42
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• 2019

Purpose : This study examines The impact of human resource investment in internal control on stock price crash risk. Effective internal control ensures that information provided is complete and accurate, financial statements are reliable. By overseeing management, internal control systems can reduce agency costs between management and outside parties. In Korea, firms have to disclose information about internal control systems. The working experience of human resources in internal control systems is also provided for interested parties. If a firm hires more experienced internal control personnel, it can better facilitate the disclosure of information. Prior studies reported that information asymmetry between managers and investors increases future stock price crash risk. Therefore, the longer working experience internal control personnel have, the lower probability stock crashes have. Research design, data and methodology : This study analyzed the association between the working experience of internal control personnel and crash risk using regression analysis on KOSPI listed companies for fiscal years 2016 through 2017. The sample consists of 1,034 firm-years of non-financial firms whose fiscal year end on December 31. Career spanning data of internal control personnel was collected from internal control reports. The professionalism(IC_EXP) was measured as the logarithm of the average working experience of internal control personnel in months. Negative conditional skewness(NSKEW) and down-to-up volatility (DUVOL) are used to measure firm-specific crash risk. Both measures are based on firm-specific weekly returns derived from the expanded market model. Results : We find that work experience in internal control environment is negatively related to stock price crashes. Specifically, skewness(NSKEW) and volatility (DUVOL) are reduced when firms have longer tenure of human resources in internal control division. The results imply that firms with experienced internal control personnel are less likely to experience stock price crashes. Conclusions : Stock price crashes occur when investors realize that stock prices have been inflated due to information asymmetry. There is a learning effect when internal control processes are done repetitively. Thus, firms with more experienced internal control personnel could manage their internal control more effectively. The results of this study suggest that firms could decrease information asymmetry by investing in human resources for their internal control system.

• The Journal of the Korea Contents Association
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• v.13 no.7
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• pp.432-439
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• 2013

In this study, we evaluate the volatility of housing prices by using literature review and empirical analysis and furthermore we suggest how to improve. In order to diagnose housing market, the KB Bank's House Price Index, Real estate 114;s materials were compared. In addition, to examine the volatility, GARCH (Generalized Autoregressive Conditional Heteroskedasticity) and EGARCH (Exponential GARCH) model are used. By analysis of this research, we found the volatility of housing price also was reduced in the medium and the large houses since 1998, while the volatility of small housing price relatively was large. We proved that the price change rate of small housing was higher than the medium's. On the order hand, the supply of small apartments fell down sharply. The short-term oriented policy should be avoided, and the efficiency and credibility of policy should be increased. Furthermore, the long-term policy system should be established. and rental market's improvement is necessary for stabilization of housing market.