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A Study about the Correlation between Information on Stock Message Boards and Stock Market Activity (온라인 주식게시판 정보와 주식시장 활동에 관한 상관관계 연구)

  • Kim, Hyun Mo;Yoon, Ho Young;Soh, Ry;Park, Jae Hong
    • Asia pacific journal of information systems
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    • v.24 no.4
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    • pp.559-575
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    • 2014
  • Individual investors are increasingly flocking to message boards to seek, clarify, and exchange information. Businesses like Seekingalpha.com and business magazines like Fortune are evaluating, synthesizing, and reporting the comments made on message boards or blogs. In March of 2012, Yahoo! Finance Message Boards recorded 45 million unique visitors per month followed by AOL Money and Finance (19.8 million), and Google Finance (1.6 million) [McIntyre, 2012]. Previous studies in the finance literature suggest that online communities often provide more accurate information than analyst forecasts [Bagnoli et al., 1999; Clarkson et al., 2006]. Some studies empirically show that the volume of posts in online communities have a positive relationship with market activities (e.g., trading volumes) [Antweiler and Frank, 2004; Bagnoli et al., 1999; Das and Chen, 2007; Tumarkin and Whitelaw, 2001]. The findings indicate that information in online communities does impact investors' investment decisions and trading behaviors. However, research explicating the correlation between information on online communities and stock market activities (e.g., trading volume) is still evolving. Thus, it is important to ask whether a volume of posts on online communities influences trading volumes and whether trading volumes also influence these communities. Online stock message boards offer two different types of information, which can be explained using an economic and a psychological perspective. From a purely economic perspective, one would expect that stock message boards would have a beneficial effect, since they provide timely information at a much lower cost [Bagnoli et al., 1999; Clarkson et al., 2006; Birchler and Butler, 2007]. This indicates that information in stock message boards may provide valuable information investors can use to predict stock market activities and thus may use to make better investment decisions. On the other hand, psychological studies have shown that stock message boards may not necessarily make investors more informed. The related literature argues that confirmation bias causes investors to seek other investors with the same opinions on these stock message boards [Chen and Gu, 2009; Park et al., 2013]. For example, investors may want to share their painful investment experiences with others on stock message boards and are relieved to find they are not alone. In this case, the information on these stock message boards mainly reflects past experience or past information and not valuable and predictable information for market activities. This study thus investigates the two roles of stock message boards-providing valuable information to make future investment decisions or sharing past experiences that reflect mainly investors' painful or boastful stories. If stock message boards do provide valuable information for stock investment decisions, then investors will use this information and thereby influence stock market activities (e.g., trading volume). On the contrary, if investors made investment decisions and visit stock message boards later, they will mainly share their past experiences with others. In this case, past activities in the stock market will influence the stock message boards. These arguments indicate that there is a correlation between information posted on stock message boards and stock market activities. The previous literature has examined the impact of stock sentiments or the number of posts on stock market activities (e.g., trading volume, volatility, stock prices). However, the studies related to stock sentiments found it difficult to obtain significant results. It is not easy to identify useful information among the millions of posts, many of which can be just noise. As a result, the overall sentiments of stock message boards often carry little information for future stock movements [Das and Chen, 2001; Antweiler and Frank, 2004]. This study notes that as a dependent variable, trading volume is more reliable for capturing the effect of stock message board activities. The finance literature argues that trading volume is an indicator of stock price movements [Das et al., 2005; Das and Chen, 2007]. In this regard, this study investigates the correlation between a number of posts (information on stock message boards) and trading volume (stock market activity). We collected about 100,000 messages of 40 companies at KOSPI (Korea Composite Stock Price Index) from Paxnet, the most popular Korean online stock message board. The messages we collected were divided into in-trading and after-trading hours to examine the correlation between the numbers of posts and trading volumes in detail. Also we collected the volume of the stock of the 40 companies. The vector regression analysis and the granger causality test, 3SLS analysis were performed on our panel data sets. We found that the number of posts on online stock message boards is positively related to prior stock trade volume. Also, we found that the impact of the number of posts on stock trading volumes is not statistically significant. Also, we empirically showed the correlation between stock trading volumes and the number of posts on stock message boards. The results of this study contribute to the IS and finance literature in that we identified online stock message board's two roles. Also, this study suggests that stock trading managers should carefully monitor information on stock message boards to understand stock market activities in advance.

Efficient Application of Westgard Multi-Rules and Quality Control Implementation Improvement (Westgard Multi-Rules의 효율적 적용과 조치사항의 개선)

  • Jung, Heung Soo;Oh, Youn Jung;Bae, Jin Soo;Baek, Jin Young;Hwang, Bo ra;Shin, Yong Hwan
    • The Korean Journal of Nuclear Medicine Technology
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    • v.21 no.1
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    • pp.60-64
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    • 2017
  • Purpose Westgard multi-rules application based on test quality improvement and commercialized international standard has been widely used in quality control. However, it is difficult to applicate the Westgard multi-rules in nuclear medicine in vitro tests due to the larger sample sizes and the simultaneous measurement of quality control material and patient sample. This study investigated the usefulness of Westgard multi-rules application in nuclear medicine in vitro tests. Materials and Methods A total of 282 systematic error multi-rules (22s, 101s) recorded in the samsung medical center computer system from January 2013 to June 2016 along with 117 cases of corrective measure record was analyzed. The Quality control implementation is recorded in Hospital information system were divided into 4 high-level areas including quality control material error, experimental procedural error, Kit lot number management error, and others. To prevent quality control material error, the existing method that each staff used their own method was changed. The staff who in charge of managing the quality control material was designated and daily consumption amount of every test was strictly controlled by one person. To prevent other errors, every test step was standardized so that the entire test procedures are identically implemented. Results The total quality control implementation was 117 cases; As a result, 62 quality control material errors were 62 cases, experimental process errors were 24 cases, Kit lot number control errors were 18 cases, and other errors were 13 cases. The quality control material error was corrected and could be used fresh materials within 2 days after thawing. The cases of systemic error were decreased to causes as quality control material error. The quality control materials were reduced above 10 vials to a monthly average. In addition, these errors of experimental processing and Kit lot number were improved by test standardization. Consequently, the cases of 101s and 22s in systematic error rules decreased at least 2 cases to a monthly average. Conclusion To confirm of systematic error through multi-rules application quickly, it is necessary to base on management of the QC material, target values and standard deviation. Moreover, in the event of a systematic error, it was found important to record measures based on test cause analysis. The experiment results are expected to contribute to internal quality control improvement and prompt and accurate result reporting through error recording and causal analysis based on Westgard multi-rules analysis.

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Pain Reduction Effects of Lidocaine Gel for Urethral Catheterization : A Systematic Review and Meta-Analysis (요도 카테터 삽입술에서 리도카인 윤활제의 통증 감소 효과 : 체계적 문헌고찰과 메타분석)

  • Hong, Hyun-Jung;Kim, Ga-Eun;Lee, Ha-Nee;Lee, A-Reum
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.18 no.6
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    • pp.438-448
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    • 2017
  • This study was a systematic review and meta-analysis that evaluated the results of research on the pain reduction effects of lidocaine gel for urethral catheterization in adults. A literature search was conducted using seven electronic databases, gray literature and other resources based on the guidelines of Preferred Reporting Items for Systematic review and Meta-Analysis (PRISMA). A Risk of Bias (RoB) tool was applied to assess the quality of selected studies. Data were analyzed using the RevMan 5.3.-program. Sixteen randomized controlled trials involving 1904 adults were included. RoB was not observed in the funnel plot. Overall, lidocaine gel was effective for pain reduction during urethral catheterization (Standard Mean Difference[SMD] -0.96;95% CI: -1.43, -0.49). To explore the cause of heterogeneity (I2=95%, p<.001), subgroup analysis was conducted according to three catheter types (urinary catheter, flexible cystoscopy, and rigid cystoscopy) and the SMDs were -0.88 (95% CI:-1.51, -0.26), -0.31 (95% CI:-0.63, 0.01), and -1.93 (95% CI:-2.88, -0.97), respectively. A significant pain reduction effect was observed regardless of gender in urinary catheterization. However, in rigid cystoscopy, a significant pain reduction effect was observed only in male subjects. Pain reduction effects were observed when 10~11ml lidocaine gel was used during rigid cystoscopy and when lubrication was used during urinary catheterization, irrespective of application time. These findings suggest that lidocaine gel is a useful anesthetic lubricant for urinary catheterization and rigid cystoscopy in male adults.

Aggregate of Korea in 2020 (2020년도 국내 골재 수급 분석)

  • Hong, Sei Sun;Lee, Jin Young
    • Economic and Environmental Geology
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    • v.54 no.5
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    • pp.581-594
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    • 2021
  • In 2020, about 132 million m3 of aggregate was produced in Korea. Of the total domestic aggregates produced in 2020, about 33.3 % was sand and about 66.7% was gravel. It estimated that of the 132 million m3 of aggregates in Korea in 2020, about 52% was produced by screening crushed aggregate, by 36% by forest aggregate, 3% by land aggregate, 5.6% by sea aggregate and 2.5% by washing each other, and 0.4% by river aggregate. This indicates that screening crushed aggregate and forest aggregate are the main producers of domestic aggregates. Leading producing metropolitan cities were Gyeonggi-do, Gyeongsangnam-do, Chungcheongbuk-do, Gangwon-do, Chungcheongnam-do, Incheon in order decreasing volume, which together accounted for about 72.4% of total product. In 2020, aggregates were produced in 153 cities, about 67% of the 231 cities of Korea, 38 local governments have developed aggregates of more than 1 million m3, and the combined production of the 38 cities accounted for about 65% of national total. This means that the aggregate extraction trend of local governments is becoming larger and more concentrated. In 2020, at 153 local governments, a total of 889 operations produced aggregates with 420 operations by permission, 469 operations by declaration. A review of production by size of operation indicated that about 17 million m3 (12.8% of the total aggregate) was produced by 14 operations reporting production of more than 1 million m3. In about 420 operations, the maximum period of permit is 32 years to at least 2 months. When the remaining period of permit is taken into account, only about 55% of active operations can be developed the aggregate after 2021. In order to maintain the permitted aggregate volume by 2020 level, it will be necessary to obtain an extension permit or find new operation sites for at least 200 or more operations.

An Analysis of Social Perception on Forest Using News Big Data (뉴스 빅데이터를 활용한 산림에 대한 사회적 인식 변화 분석)

  • Jang, Youn-Sun;Lee, Ju-Eun;Na, So-Yeon;Lee, Jeong-Hee;Seo, Jeong-Weon
    • Journal of Korean Society of Forest Science
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    • v.110 no.3
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    • pp.462-477
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    • 2021
  • The purpose of this study was to understand changes in domestic forest policy and social perception of forests from a macro perspective using big data analysis of news articles and editorials. A total of 13,570 'forest' related data were collected from metropolitan and economic journals from 1946-2017 using keyword and CONCOR (Convergence of iterated Correlations) analysis. First, we found the percentage of articles and editorials using the keyword 'forest'increased overall. Second, news data on 'forest' in the field of reporting was concentrated in the "social" sector during the first period (1946-1966), followed by forest-related issues expanding to various fields from the second (1967-1972) to fifth (1988-1997) periods, then toward the "culture" sector in the sixth (1998-2007) and "politics" after the seventh (2008-2017) period. Third, we found changes in the policy paradigm over time significantly changed social awareness. In the first and second periods, people experienced livelihood issues rather than forest greening or forest protection policy and expanded their awareness of planned and scientific afforestation (third) to environmental protection (fourth) and ecological perspectives (sixth to seventh). The key outcome of our analysis was leveraging news big data that reflected polices on forests and public social perception To further derive future social issues,more in-depth analysis of public discourse and perception will be possible using textual big data and GDP of various social network services (SNS), such as combining blogs and YouTube.

Analysis on the Key Words related to Healthcare Issues of the Prevention and Control of COVID-19 in Major Korean Newspapers, 2020 (2020년 코로나-19 관련 한국 주요 신문에서 방역관련 주요 주제어 분석)

  • Kim, Min-Young;Gu, Bo-Kyung;Yoon, Bo-Ra;Baek, Jin-Won;Lee, Moo-Sik
    • Journal of agricultural medicine and community health
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    • v.46 no.3
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    • pp.153-161
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    • 2021
  • Backgrounds: This study was performed to analyze the main key words of newspaper articles related to COVID-19 in 2020 for each category of quarantine measures according to the epidemic period of COVID-19. Methods: We analyzed articles related to COVID-19 in three major newspapers of Korea between February 17 and December 31, 2020. We targeted the front page articles on mondays and thursdays. The analysis of the relationship between the two variables was confirmed through the chi-square test. Results: As a result of analyzing the main key words for each category of quarantine measures, non-pharmaceutical intervention were the most common at 54.3%, followed by 3Ts(test, tracing, treatment and vaccine) at 31.9%. In the category of non-pharmaceutical intervention, social distancing was the most common at 33.9%. In the categories such as 3Ts(test, tracing, treatment) and vaccine, diagnostic tests were the most common at 41.8%. Conclusions: It was identified that non-pharmaceutical intervention were the most common, and there was a difference in the reporting of main key words by category of quarantine measures for each epidemic period related to COVID-19 in 2020.

The Formation and Types of Business Archives m Germany (독일 경제아카이브즈의 형성과 유형)

  • Kim, Young-Ae
    • The Korean Journal of Archival Studies
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    • no.8
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    • pp.137-180
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    • 2003
  • The term 'Business Archives' is not familiar with us in our society. Some cases can be found that materials are collected for publishing the history of a firm on commemoration of some decades of its foundation. However, the appropriate management of these collected materials doesn't seem to be followed in most of companies. The Records and archives management is inevitable in order to maximize the utility of Information and knowledge in the business world. The interest in records management has been grown, especially in the fields of business management and information technology. However, the importance of business archives hasn't been conceived yet. And also no attention has been paid to the business archives as social resources and the responsibility of the society as a whole for their preservation. The company archives doesn't have a long history in Germany although the archives of the nation, the aristocracy, communes and churches have a long tradition. However the company archives of Krupps which was established in 1905, is regarded as the first business archives in the world, It means that Germany has taken a key role to lead the culture of business archives. This paper focuses on the process of the establishment of business archives in Germany and its characteristics. The business archives in Germany can be categorized in three types: company archives, regional business archives and branch archives. It must be noted here that each type of these was generated in the context of the accumulation of the social resources and its effective use. A company archives is established by an individual company for the preservation of and use of the archives that originated in the company. The holdings in the company archives can be used as materials for decision making of policies, reporting, advertising, training of employees etc. They function not only as sources inside the company, but also as raw sources for the scholars, contributing to the study of the social-economic history. Some archives of German companies are known as a center of research. A regional business archives manages materials which originated m commerce chambers, associations and companies in a certain region. There are 6 regional business archives in Germany. They collect business archives which aren't kept in a proper way or are under pressure of damage in the region for which they are responsible. They are also open to the public offering the sources for the study of economic history, social history like company archives, so that they also play a central role as a research center. Branch business archives appeared relatively late in Germany. The first one is established in Bochum in 1969. Its general duties and goals are almost similar with ones of other two types of archives. It has differences in two aspects. One is that the responsibility of the branch business archives covers all the country, while regional business archives collects archives in a particular region. The other is that a branch business archives collects materials from a single industry. For example, the holdings of Bochum archives are related with the mining industry. The mining industry-specialized Bochum archives is run as an organization in combination with a museum, which is called as German mine museum, so that it plays a role as a cultural center with the functions of exhibition and research. The three types of German business archives have their own functions but they are also closely related each other under the German Association of Business Archivists. They are sharing aims to preserve primary materials with historical values in the field of economy and also contribute to keeping the archives as a social resources by having feed back with the public, which leads the archives to be a center of information and research. The German case shows that business archives in a society should be preserved not only for the interest of the companies, but also for the utilities of social resources. It also shows us how business archives could be preserved as a social resource. It is expected that some studies which approach more deeply on this topic will be followed based on the considerations from the German case.

A Review of Recent Climate Trends and Causes over the Korean Peninsula (한반도 기후변화의 추세와 원인 고찰)

  • An, Soon-Il;Ha, Kyung-Ja;Seo, Kyong-Hwan;Yeh, Sang-Wook;Min, Seung-Ki;Ho, Chang-Hoi
    • Journal of Climate Change Research
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    • v.2 no.4
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    • pp.237-251
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    • 2011
  • This study presents a review on the recent climate change over the Korean peninsula, which has experienced a significant change due to the human-induced global warming more strongly than other regions. The recent measurement of carbon dioxide concentrations over the Korean peninsula shows a faster rise than the global average, and the increasing trend in surface temperature over this region is much larger than the global mean trend. Recent observational studies reporting the weakened cold extremes and intensified warm extremes over the region support consistently the increase of mean temperature. Surface vegetation greenness in spring has also progressed relatively more quickly. Summer precipitation over the Korean peninsula has increased by about 15% since 1990 compared to the previous period. This was mainly due to an increase in August. On the other hand, a slight decrease in the precipitation (about 5%) during Changma period (rainy season of the East Asian summer monsoon), was observed. The heavy rainfall amounts exhibit an increasing trend particularly since the late 1970s, and a consecutive dry-day has also increased primarily over the southern area. This indicates that the duration of precipitation events has shortened, while their intensity became stronger. During the past decades, there have been more stronger typhoons affecting the Korean peninsula with landing more preferentially over the southeastern area. Meanwhile, the urbanization effect is likely to contribute to the rapid warming, explaining about 28% of total temperature increase during the past 55 years. The impact of El Nino on seasonal climate over the Korean peninsula has been well established - winter [summer] temperatures was generally higher [lower] than normal, and summer rainfall tends to increase during El-Nino years. It is suggested that more frequent occurrence of the 'central-Pacific El-Nino' during recent decades may have induced warmer summer and fall over the Korean peninsula. In short, detection and attribution studies provided fundamental information that needed to construct more reliable projections of future climate changes, and therefore more comprehensive researches are required for better understanding of past climate variations.

Exploring the Factors Influencing on the Accuracy of Self-Reported Responses in Affective Assessment of Science (과학과 자기보고식 정의적 영역 평가의 정확성에 영향을 주는 요소 탐색)

  • Chung, Sue-Im;Shin, Donghee
    • Journal of The Korean Association For Science Education
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    • v.39 no.3
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    • pp.363-377
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    • 2019
  • This study reveals the aspects of subjectivity in the test results in a science-specific aspect when assessing science-related affective characteristic through self-report items. The science-specific response was defined as the response that appear due to student's recognition of nature or characteristics of science when his or her concepts or perceptions about science were attempted to measure. We have searched for cases where science-specific responses especially interfere with the measurement objective or accurate self-reports. The results of the error due to the science-specific factors were derived from the quantitative data of 649 students in the 1st and 2nd grade of high school and the qualitative data of 44 students interviewed. The perspective of science and the characteristics of science that students internalize from everyday life and science learning experiences interact with the items that form the test tool. As a result, it was found that there were obstacles to accurate self-report in three aspects: characteristics of science, personal science experience, and science in tool. In terms of the characteristic of science in relation to the essential aspect of science, students respond to items regardless of the measuring constructs, because of their views and perceived characteristics of science based on subjective recognition. The personal science experience factor representing the learner side consists of student's science motivation, interaction with science experience, and perception of science and life. Finally, from the instrumental point of view, science in tool leads to terminological confusion due to the uncertainty of science concepts and results in a distance from accurate self-report eventually. Implications from the results of the study are as follows: review of inclusion of science-specific factors, precaution to clarify the concept of measurement, check of science specificity factors at the development stage, and efforts to cross the boundaries between everyday science and school science.

Psychological Characteristics of Living Liver Transplantation Donors using MMPI-2 Profiles (MMPI-2를 이용한 생체 간 공여자들의 심리적 특성에 대한 연구)

  • Lee, Jin Hyeok;Choi, Tae Young;Yoon, Seoyoung
    • Korean Journal of Psychosomatic Medicine
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    • v.27 no.1
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    • pp.42-49
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    • 2019
  • Objectives : Living donor liver transplantation (LDLT) is a life-saving therapy for patients with terminal liver disease. Many studies have focused on recipients rather than donors. The aim of this study was to assess the emotional status and personality characteristics of LDLT donors. Methods : We evaluated 218 subjects (126 male, 92 female) who visited Daegu Catholic University Medical Center from August 2012 to July 2018. A retrospective review of their preoperative psychological evaluation was done. We investigated epidemiological data and the Minnesota Multiphasic Personality Inventory-2 questionnaire. Subanalysis was done depending on whether subjects actually underwent surgery, relationship with the recipient, and their gender. Results : Mean age of subjects was $32.19{\pm}10.91years$. 187 subjects received LDLT surgery (actual donors) while 31 subjects didn't (potential donors). Donor-recipient relationship included husband-wife, parent-children, brother-sister etc. Subjects had statistical significance on validity scale L, F, K and all clinical scales compared to the control group. Potential donors had significant difference in F(b), F(p), K, S, Pa, AGGR, PSYC, DISC and NEGE scales compared to actual donors. F, D and NEGE scales were found to be predictive for actual donation. Subanalysis on donor-recipient relationship and gender also showed significant difference in certain scales. Conclusions : Under-reporting of psychological problems should be considered when evaluating living-liver donors. Information about the donor's overall psychosocial background, mental status and donation process should also be acquired.