• Journal of the Korea Convergence Society
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• v.8 no.11
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• pp.383-391
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• 2017

This study examines the relationship between sentiment of speculators and price movements in the futures markets of WTI crude oil, copper, and wheat during the period 2003~2014 using Granger causality tests. The results indicate that speculative positions overall has no predictive power for returns in each futures market. Rather, returns seem to have effects on speculators' sentiment especially during periods of both economic expansion and recovery. During a recession, meanwhile, changes of speculators' sentiment index in the WTI crude oil and copper markets provide predictive power for returns in a positive direction, suggesting that speculators' pessimistic sentiment aggravates declines in commodity prices. Since the effects of speculative positions on market prices are ambiguous, tight regulations on speculative trading are not advisable. In a bearish market, however, regulatory bodies should consider raising speculative position limits because large speculative short positions and (or) liquidation of index traders' long positions may lead steep price declines.

• International Journal of Internet, Broadcasting and Communication
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• v.9 no.2
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• pp.27-36
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• 2017

The world's unique geographical, multilingual, multiethnic, multiracial and multi religious Himalayan country Nepal has more than 100 years history on telephony service and it has been formulating appropriate policy and regulation for the adoption of new technology, introducing the competitive market environment for the overall development of Information and Communication Technology (ICT) infrastructures and application of ICT service and tools for socio-economic transformation. The Nepalese market seems to be continuously growing and having huge demand of mobile telephony and internet subscriptions trend. The ICT infrastructure development in difficult geographical area is quite challenging and thus operators are focusing mobile telephony and mobile internet services. Nepal has been doing its best effort on formulating policy and regulation, adoption key strategies for ICT sector development and at the same time joining hands with international and regional bodies such as ITU, SAARC etc for ICT sector development. Due to geographical diversity, policy and regulatory barriers in some extent, power supply constraints and low affordability from customers on ICT tools and services, Nepal has been facing challenges on ICT infrastructure development. However, the national statistics on ICT, Networked Readiness Index and ICT Development Index show that Nepal has done quite good progress and is keeping its pace on ICT development despite the these challenges. Moreover, there seems to be quite uncovered market segments on internet service and big opportunity on ICT sector development in Nepal in the days to come.

• The Journal of Asian Finance, Economics and Business
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• v.4 no.1
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• pp.59-66
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• 2017

The purpose of this paper is to review the quality of corporate governance from the prior empirical literature. This study finds that most of the researchers developed the self structured corporate governance index and few researchers used the corporate governance index provided by rating agencies. This study also finds that there is no uniform basis to measure the corporate governance quality and observed the variation in terms of overall and individual attributes of corporate governance; sub-indices of corporate governance; scoring system; weighted and un-weighted method; statistical method; time period; financial and non financial companies; code of corporate governance; listing requirement; disclosure practices; legal environment; firms characteristics; and country perspective. This study also observed that overall corporate governance quality is very low in most of the studies and even quality of corporate governance varies in the firms within the same country. This study recommends that the boundary of corporate governance quality should be defined based on the agreed set of rules and regulation, code of governance and practices. This study also suggests that the regulator and policy makers should more emphasize on code of corporate governance and regulatory framework and monitoring to improve the quality of corporate governance.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.10
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• pp.95-107
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• 2020

This study analyzes the effect of corporate social responsibility (CSR) activity on investors' heterogeneous beliefs. The hypothesis of this study is based on the conflicting effects of CSR activities on firm value and earning's quality. Investors' heterogeneous beliefs used in the empirical analysis of this study are trading volume, and CSR activity is measured by the KEJI Index (Korea Economic Justice Institute Index). This study performs an empirical analysis using regression analysis including control variables. CSR activities are found to have a positive relationship with trading volume. This is consistent regardless of the low and high accounting information (earning's quality). It can be interpreted that Korea's CSR activity acts as an incentive to increase investors' heterogeneous beliefs about target companies. In other words, it implies that the investor judges CSR activities negatively when evaluating firm value. This study could have a policy implication in that it analyzes how CSR activities affect investors' decision-making. In other words, this study analyzed CSR activities from the perspective of shareholders. Therefore, this study is expected to provide useful information for policymaking by regulatory agencies. In particular, its contribution is to presents data that CSR activities can be a negative factor in evaluating firm values.

• Nuclear Engineering and Technology
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• v.51 no.2
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• pp.561-572
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• 2019

In the design criterion for the nuclear power plant piping system, the limit state of the piping against an earthquake is assumed to be plastic collapse. The failure of a common piping system, however, means the leakage caused by the cracks. Therefore, for the seismic fragility analysis of a nuclear power plant, a method capable of quantitatively expressing the failure of an actual piping system is required. In this study, it was conducted to propose a quantitative failure criterion for piping system, which is required for the seismic fragility analysis of nuclear power plants against critical accidents. The in-plane cyclic loading test was conducted to propose a quantitative failure criterion for steel pipe elbows in the nuclear power plant piping system. Nonlinear analysis was conducted using a finite element model, and the results were compared with the test results to verify the effectiveness of the finite element model. The collapse load point derived from the experiment and analysis results and the damage index based on the stress-strain relationship were defined as failure criteria, and seismic fragility analysis was conducted for the piping system of the BNL (Brookhaven National Laboratory) - NRC (Nuclear Regulatory Commission) benchmark model.

• The Journal of Industrial Distribution & Business
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• v.12 no.8
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• pp.41-52
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• 2021

Purpose: The study aims to analyze effects of wage on FDI inflows based on the threshold of institutional quality in 14 developing economies of Southeast and South Asia over the period from 2000-2017. Research design, data, and methodology: The study applies a fixed effect panel threshold regression. As a proxy for the institutional quality, it uses the six components of Worldwide Governance Indicators or a compound index obtained by an average of the six components. The data were taken from World Bank, the Chinn & Ito Database, and UNCTAD. To the best of our knowledge, no researches so far have considered the threshold of institutional quality in estimating the effect of wage on FDI inflows. Results: The composite index and each component of the six indicators of institutional quality except for voice and accountability, and regulatory quality are found to have nonlinear effects on FDI inflows. When the institutional quality is below the threshold, wage affects FDI inflows negatively. When the institutional quality is above the threshold, however, wage does not significantly affect FDI inflows. Conclusions: The effect of wage on FDI inflows varies depending on whether the institutional quality of the target countries is above or below the threshold.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.4
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• pp.563-570
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• 2021

This study aims at exploring the corporate social responsibility (CSR) practices in the listed companies of Bangladesh. One hundred eighty-two different companies from fifteen different sectors have been selected as a sample. A weighted disclosure index having fifty-two items has been applied to ensure the degree of CSR practices of the sample companies. Each of the content has been assigned a three-scale value starting from zero to two. After that, eight dimensions of CSR are identified from CSR literature and have been evaluated by the predetermined disclosure index. Finally, a composite CSR disclosure (CSRD) score has been computed to measure the extent of CSR practices of the sample companies. The findings of the study reveal a poor CSRD score by the sample companies. Besides, it has been found that the listed companies provide more CSR activities on employee-related issues and community service-related issues while the listed companies provide less information on energy-related CSRD and customer-related CSRD in the context of Bangladesh. The findings of the study imply that the government and the regulatory authority should give more attention to develop a harmonized standards or policies to measure the degree of CSR practices for comparative purposes.

• Biomedical Science Letters
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• v.21 no.2
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• pp.115-121
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• 2015

Ulcerative colitis (UC) is an inflammatory bowel disease, which is a chronic gastrointestinal disorder. Pulsatilla koreana (P. koreana) is a perennial plant that grows around Korea and it has various pharmacological effects such as anti-cancer and anti-inflammatory activity. However, the regulatory effects of P. koreana in intestinal inflammation are not yet understood. This study attempted to determine the effect of P. koreana in dextran sulfate sodium (DSS)-induced colitis in mice. The colitis mice were induced by drinking water containing 5% DSS for 7 days. The results showed that mice treated with DSS showed remarkable clinical signs, including weight loss, and reduced colon length. Administration of P. koreana attenuated DSS-induced the weight loss, colon shortening and Disease activity index in mice. Additionally, P. koreana inhibited the cyclooxygenase-2 and prostaglandin $E_2$ levels in DSS-treated colon tissues. These results provide experimental evidence that P. koreana might be a useful therapeutic medicine for patients with UC.

• The Journal of Industrial Distribution & Business
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• v.7 no.1
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• pp.19-25
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• 2016

Purpose - The purpose of this paper is to aim to stress the importance of doing business environment in South Korean economy. The theoretical justification is based on neo-institutional theories and new business management including Porter's Model as main justifications of state intervention due to the market failures to promote a competitive environment of doing business. Research design, data and methodology - The methods to be taken is to provide a comparative performance analysis, and offer in terms of doing business and economic freedom sub-index complemented by Korean reforms diagnostics. Results - The main results underlined the key factors explain the success of business environment in South Korea such as: a simplified registration procedures, a target tax incentives, the removal of business barriers, the improvement of legislative and regulatory framework, target reforms, property right and technical norms, good governance and the quality of institution, a role of a well-functioning legal framework, a strong competition framework, and the transparency of regulation, etc. Conclusion - A competitive environment of doing business is based on the target national strategies, appropriate reforms responding to national needs and good governance system.

• 한국신재생에너지학회:학술대회논문집
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• 2011.11a
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• pp.149.2-149.2
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• 2011

This paper conducted an analysis of economic effects of offshore wind power in Korea with benefit/cost analysis. The existing feed-on tariff, which was too low to support wind power development, was recently replaced with a Renewable Portfolio Standard(RPS), effective from 2012. According to the new regulatory policy, The Korean government has announced a strategy to draw investments worth for offshore wind farms with a total capacity of 2.5 GW over the next eight years, which is expected the change of cost and benefit. After overview the offshore wind power development status, The effects on cost can be divided by economic, environmental and social factors. Each factor will be calculated and combined by both evaluating index and using Quantification methods. At the end, the implication for the evaluation of feasibility of offshore wind power of Korea will be done.