• The Journal of Asian Finance, Economics and Business
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• 제3권3호
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• pp.79-91
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• 2016

This paper is the first of its kind using a non-linear approach based on cross-correlation function (CCF) to investigate the information arrival hypothesis in crude palm oil (CPO) futures market. Based on daily data from 1986 to 2010, our empirical results reveal that: First, the volume of volatility is not a proxy of information flow. Second, dependence causality running from current return to future volume in conditional variance exhibit an asymmetric pattern of time span with different signs of correlation between price and volume series. This finding indicates the presence of noise traders' hypothesis of price-volume interaction in CPO futures market. Both findings suggest that this futures market is weak-form inefficiency. In terms of investors' behavior, they tend to change their expectations on current return based on errors made in previous trade in generating abnormal volume in the subsequent period. As implied, it is advisable for the investors devise their future trading strategies according to time span and changes of return.

• 한국수자원학회:학술대회논문집
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• 한국수자원학회 1987년도 제29회 수공학연구발표회논문초록집
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• pp.223-234
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• 1987

A weakly nonlinear solution is presented for the two-dimensional wave kinematics forced by a generic wavemaker of variable-draft. The solution is valid for both piston and hinged wavemakers of variable-draft that may be double articulated. The second-order propagating waves generated by a planar wave board are composed of two components; viz., a Stokes second-order wave and a second-harmonic wave forced by the wavemaker which travels at a different speed. A previously neglected time-independent solution that is required to satisfy a kinematic boundary condition on the wavemaker as well as a mixed boundary condition on the free surface is included for the first time. A component of the time-independent solution is found to accurately estimate the mean return current(correct to second-order) in a closed wave flume. This mean return current is usually estimated from kinematic considerations by a conservation of mass principle.

• 한국항만경제학회지
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• 제38권4호
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• pp.107-118
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• 2022

본 연구에서는 원유시장을 대상으로 위험-수익 관계와 시장 공포, 불확실성, 주식시장, 해상운임지수 사이의 연관성을 검증하기 위해 2002년 1월부터 2022년 6월까지 일별자료를 이용하여 분석하였다. 본 연구를 위해 위험-수익 관계는 TVP-EGARCH-M 모형을 적용하였으며, 시장 공포, 불확실성, 주식시장, 해상운임지수와의 관계를 분석하기 위해 웨이블릿 일치성 모형을 이용하였다. 본 연구의 분석결과는 다음과 같다. 첫째, 시간 가변적 위험-수익 관계 결과에 따르면, 원유시장도 높은 수익률과 높은 위험과 관련이 있는 것으로 나타났다. 둘째, 상관관계와 그랜져 인과관계 분석결과, 위험-수익 관계와 VIX, EPU, S&P500, BDI 사이에서 약한 상관관계가 존재하는 것으로 나타났다. 그리고 EPU, S&P500과 위험-수익 관계에서 양방향 인과관계가 존재하지 않는 것으로 나타났지만 VIX와 BDI는 위험-수익 관계에 영향을 주는 것으로 나타났다. 셋째, 웨이블릿 일관성 결과를 보면, 위험-수익 관계와 VIX, EPU, S&P500, BDI 간의 관계 정도는 시간 가변적인 것으로 나타났다. 특히, 위기기간(금융위기, 코로나19) 전후에 서로 간의 관계가 높은 것으로 나타났다. 그리고 장기에 연관성이 높은 것으로 나타났다. 또한 위험-수익 관계는 VIX, EPU와는 양(+)의 관계, S&P500, BDI와는 음(-)의 관계가 있는 것으로 나타났다. 따라서 시장참여자가 의사결정을 할 때 경제적인 환경 변화를 잘 인식해야 할 것이다.

• 가정과삶의질연구
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• 제23권3호
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• pp.153-167
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• 2005

This study was conducted to help develop women's human resources and promote married women's return to workforce. Using various data, we examined the patterns of Korean women's economic activities over the lifecycle, career discontinuation and return to the workforce. We also interviewed twenty full-time housewives who wanted to return to workforce. The interview questions included reasons for seeking employment, desired working conditions, and difficulties in finding a job. Major findings are as follows: First, there were two groups with respect to reasons why they want employment One was an economic need such as earning basic living expenses and supporting the family. The other was self-realization and social participation. Second most women wanted to do unskilled labor such as housekeeping work, whereas some young or well-educated women looked for a professional job. Third, married women preferred part-time jobs, which were compatible with their family care demands. Most of them wanted a workplace located close to home. The women with child-care responsibility preferred working at home. Fourth, regarding difficulties of returning to workforce, they pointed out vocational ability problems due to their career discontinuation, social prejudice such as gender discrimination and psychological pressure in maintaining work and family at the same time. In order to promote employment of married women, it is required not only to change social prejudices but also to increase effectiveness in policy implementation. In addition, counseling for job-search and vocational ability training programs should be provide.

• 제어로봇시스템학회:학술대회논문집
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• 제어로봇시스템학회 2001년도 ICCAS
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• pp.99.5-99
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• 2001

This study presents a simulation of the traction return current based on $2{\times}25kV$ power supply system in order to determine the impedance bond intensity of impulse type track circuit on the electrified Gyeongbu line. The results of the simulation enables us to measure the precise intensity of catenary current that returns to the substation through KTX (Korean Train Express) operated by $2{\times}25kV$ power supply system with common earth network. The combination of $2{\times}25kV$ and common earth network established on the electrified Gyeongbu line for the first time in Korea. We show that the relationships among the traction return current, earth current, and catenary current, and catenary current can be applied to this line in order to determine the optimal impedance bond intensity ...

• 대한전자공학회:학술대회논문집
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• 대한전자공학회 2001년도 하계종합학술대회 논문집(5)
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• pp.123-126
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• 2001

This study presents the simulation of the traction return current based on 2${\times}$25kV power supply system in order to determine the impedance bond intensity of impulse type track circuit on the Kyoungbo electrification line. The results of simulation enables us to measure the precise intensity of catenary current, returning to the substation through KTX (Korean Train Express) operated by 2${\times}$25kV power supply system with common earth network. In the wake of establishing 2${\times}$25kV and common earth network used in Korea for the first time, in particular, it is possible to determine the impedance bond intensity of impulse type track circuit, which is applicable to the Kyoungbo electrification line by specifying the relations among the traction return current, earth current, and catenary current.

• The Journal of Asian Finance, Economics and Business
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• 제8권4호
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• pp.699-707
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• 2021

The objective of this study is to examine the determinants of the liquidity of 17 commercial banks listed on the Vietnamese Stock Exchanges, HOSE, HNX and UPCoM. The study uses the quarterly audited financial statements from the first quarter of 2006 to first quarter of 2020; it includes 496 observations. Data on GDP and inflation are compiled from the International Monetary Fund and the General Statistics Office of Vietnam. Once collected, the data were organized along the line of unbalanced panel data. The results show that total asset size, return on total assets, and credit growth are positively associated with the liquidity of the listed banks; whereas the interaction between the bank size and the return on total assets has a negative impact on the liquidity of commercial banks listed on the HNX, HOSE, UPCoM. In order to maintain good liquidity, commercial banks need to focus on effective credit growth, ensure a high rate of profit over total assets, and at the same time focus on developing the scale of total assets. However, the development of the size of the total assets should be noted in the balance between the total assets and the rate of return on the total assets.

• 대한족부족관절학회지
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• 제23권2호
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• pp.52-57
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• 2019

Purpose: An ingrown nail is common in military trainees who are exposed to highly demanding activities. Although the matrixectomy procedure has been the main treatment modality, several drawbacks may follow after the procedure, such as infection, periostitis, and continued pain that causes a delayed return to duty. This study examined the outcomes of a simple partial nail extraction with the hypothesis that this procedure may bring an earlier return to duty, lower the perioperative complications, and produce a comparable recurrence rate. Materials and Methods: The medical records of patients who had surgical treatment for an ingrown nail in the authors' institution between April 2016 and December 2017 were reviewed retrospectively. Under the inclusion and exclusion criteria, 28 patients with a simple partial nail extraction (group A) and 29 patients with a partial nail extraction with matrixectomy (group B) were investigated. As the clinical outcome, the visual analogue scale (VAS) and satisfaction score, time to return to duty, complications, and recurrence rate were checked and compared between the groups. Results: The VAS scores of group B were significantly higher during the first (p<0.001) and second (p=0.026) follow-up week than group A. The time to return to duty was shorter in group A (7.8 days) than group B (10.1 days), and this difference was significant (p<0.001). Group B had five patients with complications, whereas group A had none (p=0.028). No differences in the recurrence rate (p=0.197) and patient satisfaction (p=0.764) were found between the groups. Conclusion: In this study, simple partial nail extraction in military trainees resulted in lower postoperative pain, lower complication rates, and earlier return to duty than the procedure with matrixectomy. Military trainees are temporarily exposed to highly demanding activities. Thus, a satisfactory outcome would be expected with simple partial nail extraction without performing a radical procedure, such as a matrixectomy.

• 아태비즈니스연구
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• 제14권3호
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• pp.45-66
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• 2023

Purpose - This paper examines whether overnight returns and idiosyncratic volatility (IVOL) jointly affects the cross-section of expected stock returns in the Korean stock market. Design/methodology/approach - Constructing 5×5 bivariate monthly portfolios independently sorted on overnight returns and IVOL, this paper tests whether overpricing of stocks with high overnight returns is more pronounced for the stocks that also have high IVOL. In addition, we also investigate whether time-variation in the degree of overpricing for those stocks can be explained by market volatility. Findings - Our results show that stocks having both high overnight returns and high IVOL exhibit strong negative returns in the future. In contrast, we are unable to observe such negative returns for the stocks that have high overnight returns and low IVOL. This suggests that overpricing of stocks with high overnight returns is concentrated for the stocks having high IVOL. Moreover, we also find that the degree to which such stocks are overpriced is negatively related to market volatility. Research implications or Originality - his paper is the first attempt to explore whether degree of overpricing of stocks having high overnight returns is related to IVOL. We also discover time-varying property of overpricing is jointly driven by overnight returns and IVOL. Our results indicate that IVOL might help explain other previously documented stock return anomalies, suggesting interesting topics for future research.

• Safety and Health at Work
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• 제13권1호
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• pp.32-39
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• 2022

Background: Industrial accidents can determine the overall level and quality of the work environment in industries and companies that contribute to national economic development. Korea has transformed the country from an international aid recipient to a donor country, but it has ranked first among the Organisation for Economic Co-operation and Development member countries in the number of fatal industrial accidents. Little has been known about the policy effects in terms of the workers' insurance for their industrial accidents and rehabilitation. This study raises two research questions about the influence of workers' personal characteristics and vocational rehabilitation services on their return to workplaces. Methods: The study implements weighted logistic regression analysis using propensity score matching. This research utilizes the relevant dataset (3,924 persons) of Korea's industrial accident and insurance. Results: The findings show that the level of workers' awareness of health recovery and their counseling for rehabilitation by physicians had positive effects on their return to work. Environmental factors such as workers' job stability at the time of industrial accidents and the temporal effects of industrial accidents (e.g., the level of disability, their age) had negative impacts on their return to work. Conclusions: These findings have policy implications that the concentration of rehabilitation services for patients who have been mildly affected by industrial accidents would be effective in the short and medium term. The findings also highlight the necessity of ongoing policies about workers' vocational recovery with concrete evidence about policy impacts.