• Management & Information Systems Review
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• v.35 no.3
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• pp.195-212
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• 2016

Utilizing intra-day volume weighted average price (VWAP) based on 1 minute return data of stocks traded on the Korean Stock Exchange, this paper examines and analyzes abnormal returns in reaction to patent listing disclosures as well as the cumulative abnormal returns, traded volumes, the interaction of VWAP spreads, the reaction of volumes, the reaction of VWAP spreads and the realized returns obtained from trading using an event driven arbitrage strategy. The results of the aforementioned research topics are follows. First, our analysis suggests that on average, 0.92% positive cumulative returns arise 1 minute after the patent listing disclosure announcement with high statistical significance, thereby reconfirming that the Korean stock market is a semi-strong form of the efficient market. Employing 3 separate panel tests differentiated by the size factor, we find that the abnormal returns of small sized stocks were less than the returns of medium sized stocks, which goes to support recent research findings suggesting that the size premium is no longer existent in the Korean stock market. Secondly, we show that among the event driven type strategies, the most outstanding realized returns are from the market making strategies. Furthermore, placing market order trades only at the bid or ask price resulted in negative returns. This implies that strategies utilizing a combination of market orders and limit orders, order cancelations ratios and order flows can enhance realized returns.

• The Korean Journal of Financial Management
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• v.23 no.2
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• pp.143-170
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• 2006

We explore how stock returns and volatility have been impacted by securities market stimulating and controlling plans during the 1980-2004 period, using return analysis, event study, and BFL tests. First, we examine effectiveness of the stimulating plans for a depressed market and the controlling plans for an overheated market with respect to different firm sizes and industries as well as the whole market. KOSPI, large-sized, finance, and manufacturing company stock prices significantly rise following stimulating plans, implying that the plans are quite effective. Controlling plans also seem effective as stock prices stop rising and tend to decline following the plans. Second, we test whether securities market plans have any further impact with respect to fun sizes and industries in addition to the impact on the entire market. Only large-sized stocks show additional response to stimulating plans, while small-sized, electrical-electronic equipment, distribution, and manufacturing industries are further impacted by controlling plans. Third, the results of BFL tests show that volatility does not change around the announcement dates of stimulating and controlling plans. It appears that securities market plans have no impact on volatility. Only stock returns respond to the plans.

• 한국노년학
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• v.31 no.4
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• pp.905-923
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• 2011

The purpose of this study is to examine factors affecting the conflict between grandparents raising grandchildren and adult children. The data were based on the panel survey to explore korean retirement and income study conducted by National Pension Service in 2009. For this study, 287 parenting grandparents rearing grandchild are selected from the survey. Included variables are a demographic factor, a economic factor, a caregiving-related factor, a health factor, and a family relationship factor. The data were analyzed using descriptive statistics, t-test, co-relation and logistic regression, with SPSS WIN 18.0 program. The results are as follows: First, when grandparents are male, older, highly educated, having no religion, and unemployed, a conflict with their adult children grows. Second, when grandparents do not have earned income or financial income, but have private income transfers, a conflict with their adult children is high. Third, when grandchildren are younger, there are no caregiving rewards, economic activities suspension or reduction because of caregiving, a conflict with their adult children is strong. Also, when grandparents' physical health is good, but their mental health is poor, a conflict with their adult children increases. Fourth, when grandparents' satisfactions with family relationship and spouse relationship are low, but their satisfaction with adult children relationship is high, a conflict with their adult children rises. This study suggests that unlike in the past, grandparents raising grandchildren can no longer make sacrifice themselves for their adult children, but they expect proper exchange between parents and children. Therefore, there needs to be understanding of grandparents raising grandchildren and further studies of a conflict between grandparents raising grandchildren their adult children.

• The Korean Society of Law and Medicine
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• v.21 no.1
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• pp.107-152
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• 2020

During the main ruling in 2019, a number of rulings that were of interest or meaningful were handed down, such as just because the complication of medical practice has occurred, there is no presumption of negligence, a case involving a fall accident in which a lot of culpability has recently been made. the death of a well-known singer that caused a sensation, a case about damages caused by MERS in 2015, which is more meaningful in connection with damages caused by COVID-19, an infectious disease that has recently hit the world, including Korea. In preaching the principles of the law, just because there has been a complication caused by medical practice, there is no presumption of negligence, 'The scope of the complication without presumption of negligence' was determined differently by the court, the court was not able to specify the criteria. Specific circumstances were presented to limit the responsibility of the medical institution while acknowledging the malpractice of the medical institution in relation to the fall accident. In relation to the scope of damages, judgment was made on issues related to the calculation of lost profits of medical malpractice; criteria for determining celebrities' daily income, criteria for determining daily income in case of receiving survivor's pension due to medical accident, an incident in which the daily income is denied if the labor capacity is already lost at the time of a medical accident. But, it seems that judgments should be made based on clearer and more reasonable standards. Related to Medical Advertise, specific logic of judgment was presented as to whether it was interpreted as being in accordance with the specific prohibition listed in Article 27 paragraph 3 of the Medical Law, which is the criterion for violation of the Medical Law, or if it constitutes a significant harm to the order of the medical market. In response to the prohibition of operating the multiple medical institutions, the Constitutional Court decided that it was constitutional because it did not violate the regulations on excessive funding, and rationally limited the scope of the prohibited 'redundant operation'. The Supreme Court ruled for the first time that even a medical institution established and operated in violation of the Medical Service Act did not make it impossible to receive all medical care benefits implemented by a medical institution under the National Health Insurance Act. Significant rulings were finalized that recognized the existence of specific protection obligations for the people of the country in the management of infectious diseases.