• Asia pacific journal of information systems
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• v.24 no.2
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• pp.233-253
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• 2014

Can the stock market really be predicted? Stock market prediction has attracted much attention from many fields including business, economics, statistics, and mathematics. Early research on stock market prediction was based on random walk theory (RWT) and the efficient market hypothesis (EMH). According to the EMH, stock market are largely driven by new information rather than present and past prices. Since it is unpredictable, stock market will follow a random walk. Even though these theories, Schumaker [2010] asserted that people keep trying to predict the stock market by using artificial intelligence, statistical estimates, and mathematical models. Mathematical approaches include Percolation Methods, Log-Periodic Oscillations and Wavelet Transforms to model future prices. Examples of artificial intelligence approaches that deals with optimization and machine learning are Genetic Algorithms, Support Vector Machines (SVM) and Neural Networks. Statistical approaches typically predicts the future by using past stock market data. Recently, financial engineers have started to predict the stock prices movement pattern by using the SNS data. SNS is the place where peoples opinions and ideas are freely flow and affect others' beliefs on certain things. Through word-of-mouth in SNS, people share product usage experiences, subjective feelings, and commonly accompanying sentiment or mood with others. An increasing number of empirical analyses of sentiment and mood are based on textual collections of public user generated data on the web. The Opinion mining is one domain of the data mining fields extracting public opinions exposed in SNS by utilizing data mining. There have been many studies on the issues of opinion mining from Web sources such as product reviews, forum posts and blogs. In relation to this literatures, we are trying to understand the effects of SNS exposures of firms on stock prices in Korea. Similarly to Bollen et al. [2011], we empirically analyze the impact of SNS exposures on stock return rates. We use Social Metrics by Daum Soft, an SNS big data analysis company in Korea. Social Metrics provides trends and public opinions in Twitter and blogs by using natural language process and analysis tools. It collects the sentences circulated in the Twitter in real time, and breaks down these sentences into the word units and then extracts keywords. In this study, we classify firms' exposures in SNS into two groups: positive and negative. To test the correlation and causation relationship between SNS exposures and stock price returns, we first collect 252 firms' stock prices and KRX100 index in the Korea Stock Exchange (KRX) from May 25, 2012 to September 1, 2012. We also gather the public attitudes (positive, negative) about these firms from Social Metrics over the same period of time. We conduct regression analysis between stock prices and the number of SNS exposures. Having checked the correlation between the two variables, we perform Granger causality test to see the causation direction between the two variables. The research result is that the number of total SNS exposures is positively related with stock market returns. The number of positive mentions of has also positive relationship with stock market returns. Contrarily, the number of negative mentions has negative relationship with stock market returns, but this relationship is statistically not significant. This means that the impact of positive mentions is statistically bigger than the impact of negative mentions. We also investigate whether the impacts are moderated by industry type and firm's size. We find that the SNS exposures impacts are bigger for IT firms than for non-IT firms, and bigger for small sized firms than for large sized firms. The results of Granger causality test shows change of stock price return is caused by SNS exposures, while the causation of the other way round is not significant. Therefore the correlation relationship between SNS exposures and stock prices has uni-direction causality. The more a firm is exposed in SNS, the more is the stock price likely to increase, while stock price changes may not cause more SNS mentions.

• Journal of the Korean Institute of Landscape Architecture
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• v.37 no.6
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• pp.12-18
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• 2010

This study was carried out in order to propose a planning index for improved school forests in Gyeonggido. For the purpose of this study we selected 42 out of 75 school forests established during 2005 in Gyeonggido. All 42 school forests were surveyed and analyzed by frequency, cross tabulation, and group average analysis with SPSS 12.0 version. The present condition of the school forests was analyzed with in conjunction with items such as the surrounding environment, centralization, and locational characteristics as nominal points. Other items: trees, shrubs, pavement, fruit trees, transplantation, evergreen trees, and recreation facility content percentage were analyzed as a proportion point. After reviewing the literature and analyzing the present condition of school forests, we constructed a conceptual framework and formulated a hypothesis for this research. Data were obtained through a questionnaire, given to 98 students majoring in landscape architecture at Hankyong University in 2007. Results showed that the primary variables for tree health were soil compaction and the depth of soil filling. They were the most serious factors that deteriorate the health of trees. Based on the relationship between tree health and growing conditions, trees inside the school forest should be managed to provide more growing space and less abuse. The minimum area for trees inside the school forest for good growth conditions should be within the drip lines. We have found that the minimum percentage of tree content is 0.13, which means that more than 130 trees need to be planted over $1,000m^2$ green space. More than 3,580 shrubs need to be planted over $1,000m^2$ green space. The pavement area should be controlled to less than 19% of the total size of the school forest area. Finally, more than 39 trees out of 100 trees planted should be evergreen. The research results suggest that the construction planning index of Gyeonggido school forest be recommended in the planning and development process of the construction project carried out every year.

• Journal of Music and Human Behavior
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• v.1 no.1
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• pp.11-32
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• 2004

According to Edwin Gordon(1987, 1997, 2003), music aptitude is a product of interaction of innate potential and early environmental experiences. He referred to music aptitude of children up to nine years of age as developmental music aptitude which fluctuates due to musical environment. Music aptitude stabilizes at age nine, and the music aptitude after age nine is called "stabilized music aptitude". This research is to examine Gorden's hypothesis that the younger a child receives music education, the higher music aptitude. Also, this research is to experiment the effect of Audiation activities developed in Audie Music Curriculum on music aptitude. The researcher and another Audie teacher as a co-teacher guided children together for 30 minutes once a week. The pedagogy guidelines for informal guidance in music learning theory were kept throughout the classes. Also, Audie's teaching method which had been developed for Korean Kindergarten educational environment was also applied. Five-year-old subjects in Experimental group 1 experienced the Audie Music Curriculum of one year; five-year-old subjects in Experimental group 2 experienced it for two years. Primary Measures of Music Audiation was administered three times during their last year of Kindergarten. Subjects in the Control groups, one examined at the beginning and the other at the end of their last year in Kindergarten, received no Audie instruction. There was no significant difference in tonal aptitude, but there was significant difference in rhythmic aptitude(p< .05) among the experiemental groups. Because both Experimental groups showed statistical significance (p< .001) in the music aptitude increase during their academic years, the significant differences of the year-end music aptitude between control group and experimental groups were the expected result.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.4
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• pp.135-149
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• 2020

As youth employment has become a social issue every year, the government is pushing for policies to support youth start-ups to create jobs voluntarily as a way to enhance the youth employment rate. In the case of young people in Gangwon Province, the number of people moving to other regions is increasing. This research is intended to empirically analyze the actual achievements of youth start-ups through the 'Youth Start-up Project' in Gangwon-do. It was divided into four categories: participation in government support, education completion, intellectual property right retention, and certification retention, which are characteristics of start-up companies, and hypotheses that they will have a positive impact on start-up performance (sales amount, duration of existence, or whether they are retained or not). Age and geographical factors (Yeongdong and Yeongseo) were injected as control variables to see how they affect them. Furthermore, empirical analysis was conducted by setting up a hypothesis that the characteristics of start-up companies and subsequent support between start-up performance would have a positive intermediary effect. The research results showed that the remaining characteristics, except for education completion, had a positive impact on sales, and that the more participation in government projects, the longer the duration of the company's existence. In addition, the level of participation in government support projects was significant in the direction of the government. The analysis results of the parameter, follow-up support, had a positive impact on the start-up performance, and the subsequent support mediating effect showed the mediating effect of the start-up performance, except for geographical factors. The results of this study suggest the need for customized support suitable for the characteristics of youth start-ups in order to enhance the performance of young start-ups. Support agencies need to refer to corporate characteristics for smooth management and selection. In the Gangwon-do area, the government should seek to provide timely and organic support for start-up companies in order to produce successful start-up cases.

• Journal of Distribution Science
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• v.9 no.2
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• pp.73-81
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• 2011

This study is designed to examine the effects of information source effects of the word mouth have on the formed expectations for the private institution and to explore the formed expectations' effects on the actual sales of the educational service. Moreover, its purpose is in analyzing what medication effects the pre-conceived expectation has on selecting the educational service. After testing hypothesis, the results showed that the source effects of the information from word of mouth had a significant effect on the expectation factors, in terms of expertise, similarity, likability and familiarity expectation factors. However, it was found that effect was not significant for the truthfulness. The significant result was found on the expectation factors before visiting the private institution on selecting educational service, indicating a positive effect. As for the influence of source of the word of mouth information on selecting educational service, the results from the mediation effects of the expectation factors on selecting the educational service showed that for expectation factors, expertise had the partial mediation effect, truthfulness, perfect mediating effect, similarity, partial mediation effect, likability, perfect mediating effect, and familiarity, perfect mediating effect. A test of the mediating role of attribute expectations in the influence of WOM message source attributes on educational services choices showed the following: 1) It was proven that attribute expectations played a partial mediating role in the influence of expertise and similarity, respectively, on educational services choices. 2) On the influence of trustworthiness, likability, and familiarity on educational services choices, respectively, attribute expectations had a full mediation effect. This research differs from the previous ones, which focused only on consumer satisfaction with educational services offered by private educational institutions in that it covers not only the influences of both WOM source attributes and key component factors of educational services on both educational services choices and satisfaction with such services but also the influence of WOM source attributes on attribute expectations prior to the first visit to a particular private educational institutions, and in turn the influence of such attribute expectations on educational services choices. Most particularly, the significance of this study lies in the fact that in an effort to more clearly explain the causal relationship between WOM source effects and educational services choices a test of the mediating role of attribute expectations was conducted. Although the research seems simple, some theoretical implications can be drawn as follows: WOM message source effects on educational services choices were positive and moreover these positive impacts are likely to be reinforced by means of the mediating variable of attribute expectations.

• Journal of Intelligence and Information Systems
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• v.24 no.2
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• pp.37-57
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• 2018

With the spread of smart phones, interest in mobile media is on the increase as useful media recently. Mobile media is assessed as having differentiated advantages from existing media in that not only can they provide consumers with desired information anytime and anywhere but also real-time interaction is possible in them. So far, studies on mobile advertising were mostly researches analyzing satisfaction with, and acceptance of, mobile advertising based on survey, researches focusing on the factors affecting acceptance of mobile advertising messages and researches verifying the effect of mobile advertising on brand recall, advertising attitude and brand attitude through experiments. Most of the domestic mobile advertising studies related to advertisement effect and advertisement attitude have been conducted through experiments and surveys. The advertising effectiveness measure of the mobile ad used the attitude of the advertisement, purchase intention, etc. To date, there have been few studies on the effects of mobile advertising on actual advertising data to prove the characteristics of the advertising platform and to prove the relationship between the factors influencing the advertising effect and the factors. In order to explore advertising effect of mobile advertising platform currently commercialized, this study defined advertising characteristics and media characteristics from the perspective of advertiser, advertising platform and publisher and analyzed the influence of each characteristic on advertising effect. As the advertisement characteristics, we classified advertisement format classified by bar type and floating type, and advertisement material classified by image and text. We defined advertisement characteristics of advertisement platform as Hedonic and Utilitarian media characteristics. As a dependent variable, we use CTR, which is the ratio of response (click) to ad exposure. The theoretical background and the analysis of the mobile advertising business, the hypothesis that the advertisement effect is different according to the advertisement specification, the advertisement material, In the ad standard, bar ads are classified as static framing, Floating ads can be categorized as dynamic framing, and the hypothetical definition of floating advertisements, which are high-profile dynamic framing ads, is highly responsive. In advertising, images with high salience are defined to have higher ad response than text. In the media characteristics classified as practical / hedonic type, it is defined that the hedonic type media has a more relaxed tendency than the practical media, and there is a high possibility of receiving various information because there is no clear target. In addition, image material and hedonic media are defined to be highly effective in the interaction between advertisement specification and advertisement material, advertisement specifications and media characteristics, and advertisement material and media characteristics. As the result of regression analysis on each characteristic, material standard, which is a characteristic of mobile advertisement, and media characteristics separated into 'Hedonic' and 'Utilitarian' had significant influence on advertisement effect and mutual interaction effect was also confirmed. In the mobile advertising standard, the advertising effect of the floating advertisement is higher than that of the bar advertisement, Floating ads were more effective than text ads for image ads. In addition, it was confirmed that the advertising effect is higher in the practical media than the hedonic media. The research was carried out with the big data collected from the mobile advertising platform, and it was possible to grasp the advertising effect of the measure index standard which is used in the practical work which could not be grasped in the previous research. In other words, the study was conducted using the CTR, which is a measure of the effectiveness of the advertisement used in the online advertisement and the mobile advertisement, which are not dependent on the attitude of the ad, the attitude of the brand, and the purchase intention. This study suggests that CTR is used as a dependent variable of advertising effect based on actual data of mobile ad platform accumulated over a long period of time. The results of this study is expected to contribute to establishment of optimum advertisement strategy such as creation of advertising materials and planning of media which suit advertised products at the time of mobile advertisement.

• Journal of the Korean Geographical Society
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• v.42 no.4
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• pp.488-505
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• 2007

The purposes of this research are twofold; 1) to verify spatial differences of tectonic movement using the spatial distribution of earthquakes, and 2) to infer mechanisms that generate spatial accumulation patterns of earthquakes in the Korean Peninsula. The first part of this sequential paper (Park, 2007) argues that the Korean Peninsula consists of four geostructural regions in which tectonic deformation and consequent geomorphological development patterns are different from each other Since this conclusion has been made by terrain analyses alone, it is necessary to verify this suggestion using other independent geophysical data. Because earthquakes are results of movement and deformation of land masses moving in different directions, the distribution of earthquake epicenters may be used to identify the direction and rates of land mass movement. This paper first analysed the spatial distribution of earthquakes using spatial statistics, and then results were compared with the spatial arrangement of geostructural regions. The spatial distribution of earthquakes in the Korean Peninsula can be summarized as the followings; firstly, the intensity of earthquakes shows only weak spatial dependency, and shows large difference even at adjacent regions. Secondly, the epicenter distribution has a clear spatial accumulation pattern, even though the intensity of earthquake shows a random pattern. Thirdly, the high density area of earthquakes shows a clear 'L' shape, passing through Pyeongannam-do, centered at Pyeongyang, and Hwanghae-do, Seosan and Pohang. The correlation coefficient between the density of earthquakes and distance from geostructral region boundaries is much higher than those between the density of fault lines and distance from tectonic division boundaries. Since fault lines and tectonic divisions in the Korean Peninsula are the results of long-term geological development, there is an apparent scale discrepancy to find significant correlations with earthquakes. This result verifies the research hypothesis that the Korean Peninsula is divided into four geostructral regions in which each has its own moving direction and spatial deformation characteristics. The existence of geostructural regions is also supported by the movement parrerns of land masses estimated from the GPS measurements. This conclusion is expected to provide a new perspective to understand the geomorphological developments and the earthquake occurrences in the Korean Peninsula.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.7 no.4
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• pp.101-112
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• 2012

Business consulting which aims at advising overall management, comparative advantage in competitive environment, administration and so forth is deemed to be significant so that a credit union may flexibly respond to rapid and complicated financial environment. Accordingly, business consulting has been initiated and implemented in credit union since 2002, which seemingly leads to positive outcome to enhance its competitiveness. However, very few research exists which analyze the credit union's competitiveness and business performance after the business consulting. Thus, the research intends to verify how consulting influences on management performance by its various factors. With the above studies in mind, hypothesis is formed that the characteristics of a consulting comsumer and the characteristics of supplier will give a meaningful impact on management performance. The test shows the result as followings: Firstly, a primary credit union's trust and NACUFOK's expertise demonstrate that they are closely relevant to financial and non financial management performance. Secondly, support and willingness to apply states that they influences on non financial performance, while no direct impact is found to financial performance. Thirdly, NACUFOK's capability is rarely interrelated to financial and non financial performance. The present study implies that the credit union as a consulting beneficiary should participate in the consulting, accept the result, and make effort to solve the management problems. In addition, NACUFOK as a consulting supplier should initiate the organization in exclusive charge, perform the professional group, and foster the professional consultant for the development of consulting method, the improvement of consulting process, and the specialization of consultant including the enhancement of core competencies. When these perspectives are sufficient, it will be connected to the management outcomes, further, it will be boosted up the competitiveness of the Credit Union. Hopefully the present study helps to motivate the consulting of primary credit union, boost up the effectiveness of consulting, further, providing the perspective on consulting the credit union. And these may result in the indication of consulting development direction and the competitiveness of Credit Union.

• Journal of Ginseng Research
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• v.32 no.4
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• pp.324-331
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• 2008

Introduction : Korean red ginseng has been shown to have an preventive effect on atheroma formation and enhancing effect on nitric oxide synthesis in endothelial cell inducing vasodilatation. However, there are few studies showing the effect of Korean red ginseng on blood pressure and vascular(endothelial) pathologic changes together. We designed this study to show changes of blood pressure and vascular pathologic findings with Korean red ginseng administration compared with Chinese red ginseng and control for 3 months in rats. Materials and methods : We studied the in vitro hypotensive effect and effect on vascular pathologic changes of Korean red ginseng compared with Chinese red ginseng and control. Rats were randomly assigned to three groups(Korean red ginseng, Chinese red ginseng and control) and evaluated by blood pressure and aortic vascular(endothelial) pathologic changes monthly during 3-month administration. All results were analyzed by paired T-test, ANOVA and post-hoc. Results : Blood pressure lowering effect was noted on Korean red ginseng and Chinese red ginseng compared to control. Especially, in Korean red ginseng group, hypotensive effect was showed in first and second month, but, in Chinese red ginseng group, it was just noted in first month. In case of vascular(aortic endothelial) pathologic finding, endothelial wall thickening and elastic fiber tearing were noted in Chinese red ginseng group compared with Korean red ginseng group and control with statistical significance.(p<0.05) Discussion : These results suggested Korean red ginseng could have more hypotensive effect and maintenance rather than Chinese red ginseng. And the difference of hypotensive effect between Korean red ginseng and Chinese red ginseng might has some association with difference of vascular pathologic findings in each group. However, further evaluation and research of other mechanism will be needed to convince this hypothesis.

• The Journal of Korean Institute of Communications and Information Sciences
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• v.13 no.6
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• pp.521-528
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• 1988

Into the telecommunications industry, which had been monopolistic, a few advanced countries introduced competition through 70's and 80's. And this trend is going on worldwide. The introduction of competition into the industry is made mainly in the long distance, international and enhanced market. This liberalisation results from the fundamental change of the cost function. Suggesting that the cost comprises of that of the facility sector and that of the operation sector there exists the economies of scale in the facility sector in general. The major ground for the monopolistic industrial structure in the past was the natural monopoly depending on the economies of scale. But the rapid advance of the technology by a large margin. This decrease has resulted in the change of the cost function. That is while there exists the economies of scale in the smaller production scale, the average cost increases beyond a certain scale. This means that the natural monopoly collapsed, and that the competitive structure is more efficient than the monopolistic structure. But, because there exists economies of scale in the smaller scale, the desirable number of players, which could result in efficient industry structure depends on the market size. Such correlation between technological level market size and the degree of regulation is found in the case of U.S.A., Japan and U.K., where deregulation policy of the telecommunications market has already been carried out. In U.S.A., which has the largest market and the highest technological level the degree of regulation is lowest. Also in the order of Japan and U.K. the regulation is severer. Japan and U.K. are likely to liberalize still more, as the technology advances and the market grows. This article is just the beginning of the research, and this hypothesis requires more detailed research.