한국, 미국, 일본과 아시아 금융위기 국가의 주식시장간 조건부상관관계 추정과 정보확산속도에 관한 연구

이상빈(Sang Bin Lee),서정훈(Jeong Hun Seo) 한국경영학회 2009 經營學硏究 Vol.38 No.3

As the financial markets of emerging nations have become internationalized and integrated nowadays, much prior research shows that co-movements between the international stock markets have sharply increased, especially during financial crises such as Black Monday. This suggests that the analysis of the time-varying conditional correlation is important. The timevarying conditional correlation depends on both the degree of connection between nations and composition of optimal portfolios for asset allocation and risk management. In order to show how the co-movements between financial markets have been during the financial crises, we have investigated dynamic conditional correlation for stock returns of sample nations during the Asian crisis period and IT bubble crisis. We also examine the contagion effect and the relationship between the information diffusion speed and the contagion effect. The analysis period for the paper is from January 1990 to December 2007. The sample data include Korea, three Southeast Asian nations (Thailand, Indonesia, and Malaysia) which have experienced the Asian financial crisis, the U.S., and Japanese stock markets, which can be considered advanced stock markets. We estimate dynamic conditional correlation between sample nations. We also use an estimator, which is calculated through the Fisher transformation, in order to analyze the contagion effect. Also, we test information diffusion speed by the autoregressive structure of timevarying volatility of the GARCH model. Finally, we test the robustness of the contagion effect using weekly stock returns as well as daily stock returns, and analyze whether or not the increase in volatility during the crisis period affects the contagion effect beyond the information diffusion speed. Empirical results can be summarized as follows. First, the estimation of the dynamic conditional correlations between sample nations satisfies the necessary conditions of a model estimator. Furthermore, the conditional correlation is time-varying as time passes. Second, the contagion effect among Korea and Southeast Asia (Thailand, Indonesia, and Malaysia) is significant but not between these nations and the U.S. This result implies that the Asian nations are strongly connected with the U.S. economy during the Asian financial crisis. Third, we have investigated how the information diffusion speed has impacted on the contagion effect. The information diffusion speed of the three Southeast Asian nations is faster than Korea and Japan during the Asia crisis period. This indicates that the information diffusion speed depends on the relative size of the economy. To check whether the results are robust across the frequency of the data set, we use the weekly stock returns beyond the daily stock returns. The estimation results of the weekly data are slightly different from the previous results of the daily data. This may suggest that when non-synchronicity of trading and the institutional differences of stock markets are significant, the use of unsuitable data sets for analysis may not guarantee reliability for risk management and international portfolio management in which the dynamic conditional correlation plays an important role.

재번역 및 자가교정(self-revision) 분석을 통한 한국문학번역 방향 고찰하기

이상빈(Lee, Sang-Bin) 한국번역학회 2018 번역학연구 Vol.19 No.4

국내학부 번역전공자의 구글 기계번역 포스트에디팅 과정(process) 및 행위 연구

이상빈(Lee, Sang-Bin) 한국번역학회 2018 번역학연구 Vol.19 No.3

인물형상화와 페미니즘 번역

이상빈(Lee, Sang-Bin),이선우(Lee, Sun-Woo) 한국번역학회 2018 번역학연구 Vol.19 No.1

용무도 복합운동이 청소년의 비만 수준별 혈관탄성, 혈중지질 및 아디포넥틴에 미치는 영향

이상빈 ( Sang Bin Lee ),장창현 ( Chang Hyun Jang ) 한국운동생리학회 2015 운동과학 Vol.24 No.4

PURPOSE: The purpose of this study was to investigated of Yong Moo Do combined exercise (kick, punch, press, throw, and choke) affect vascular compliance, blood lipid and adiponectin in adolescent. METHODS: 3 groups (27 high school students) participated in experiment as follows: subjects who have normal weight and non-exercise (Control group, NC: n=8), who have normal weight and Yong Moo Do combined exercise(NE: n=10), who have obese weight and Yong Moo Do combined exercise(OE: n=9), Yong Moo Do combined exercise was composed of one hour per time, 3 times per week during 12 weeks. All data were analyzed Two-way repeated ANOVA. RESULTS: Body composition (%BF, BMI and WHR) significantly higher OE than NE and NC (p<.05). %BF and WHR significantly decreased in NE and OE after 12 weeks exercise (p<.05). Right Hand, Left Hand, Right Foot, and Left Foot significantly increased in NE and OE after 12 week exercise (p<.001). LDL-C significantly decreased in NE and OE after 12 week exercise (p<.001), and HDL-C significantly increased in NE and OE (p<.001). Adiponectin, significantly increased at 12 weeks NE and OE after exercise (p<.001). CONCLUSIONS: These findings suggest that Yong Moo Do combined exercise might result positive effect for vascular compliance, blood lipid profiles and adiponectin in obese high school students.

목 전산화단층촬영검사 시 경추 각도에 따른 갑상샘 영상에 관한 연구

이상빈(Sang-Bin Lee),이창호(Chang-Ho Lee),정해준(Hae-Jun Jeong),주수현(Soo-Hyun Joo),김민수(Min-Su Kim),이진규(Jin-Kyu Lee),양용석(Yong-Seok Yang) 대한CT영상기술학회 2023 대한CT영상기술학회 학술대회자료집 Vol.2023 No.1

번역기계, 팬번역가, 로컬라이저의 네트워크

이상빈(Lee, Sang-Bin) 한국번역학회 2016 번역학연구 Vol.17 No.3

호텔과 법인기업간 장기거래 협력관계의 모형평가에 관한 연구

이상빈(Sang Bin Lee),박철호(Chul Ho Park) 한국관광연구학회 2013 관광연구저널 Vol.27 No.1

The purpose of this study is to analyze how the effect of the relationship factors can affect their relationship marketing for long-term transaction company and to suggest a strategic implication on the long-term relationship corporate company marketing based on the analysis. An important basis for judgment in this study is that inter-business relationship improvements will bring out the collaborative corporate growth and development, so far as to make great contributions to seeking the development of the entire tourism industry, by conducting the empirical analysis of influence factors in the long-term cooperative relationship between hotels and partner corporations. This study tried to: first, the study went over the relevant factors regarding the long-term business cooperation between hotels and partner corporations, as listed below : satisfaction to previous transactions, peculiarity in hotel assets, communication, contact intensity, reputations of the hotel in business; second, an analysis was conducted as to the impact of relevant factors on the parameters such as relationship trust and relationship immersion; lastly, this study investigated the influence of the relationship between hotels and partner corporations on the long-term business cooperation, and specified their relation. That is, the optimal relationship marketing strategies were designed to be established and suggested so that hotel room sales should be continuously maximized through an efficient marketing mix by grasping the influential factors regarding inter-business cooperation on a long term basis.

중국의 당정체제와 국유기업: 정치적 지배논리와 공공선택의 한계

이상빈 ( Lee Sang Bin ),이상윤 ( Lee Sang Youn ) 현대중국학회 2017 現代中國硏究 Vol.18 No.4

중국 정부는 공공재(public goods)와 경쟁적 시장 환경을 보호하는 외재적(外在的)인 중립기구인 동시에 정부 자신의 이익을 추구하는 내재적(內在的)인 경제참여 행위자로서의 역할을 수행하고 있다. 현재 중국의 국유기업은 구조조정 이후 일련의 개혁으로 국유기업의 분포 구조뿐만 아니라 기업제도와 현대기업 관리체계에서의 변화가 있기는 하나, 중국의 국유기업은 여전히 정부의 공공사무의 관리기능과 국유자산관리소유자의 직책의 상호 분리(政資分離)가 해결의 실마리가 되지는 않았다는 것이다. 즉 당정체계를 중심으로 한 정부와 중국의 국유기업과의 근본적 관계와 함께 확립된 이중적 지배구조(twin governance)는 여전히 법적으로 확립한 현대 기업지배구조의 한계로 나타나고 있다. 중국 국유기업은 CEO, 이사회, 감사회 등 기업지배구조체제와 국유기업 내 당위원회 조직이라는 이중적 지배구조(twin governance)를 가지고 있다. 국유기업개혁과 관련된 제도적 한계는 국유기업의 기업 경영차원에서 기업지배구조가 기본적인 구조를 형성했으나, 근본적인 변화는 이루어지지 않고 있다. 또 다른 실질적인 문제는 국유자산감독관리위원회가 국유기업에 대한 구조조정뿐만 아니라, 국유기업의 업적 평가, 변경 주식 비준, 국유자산 관리 및 경제책임 추궁 등을 책임지는 동시에 관리자로서의 역할을 감당해야 하기 때문에 기본적으로 관리위원회의 과도한 관리를 벗어나기 어렵다. 국유기업 관리체계 혁신의 제도적 한계는 글로벌 경쟁력강화를 위한 국제화전략이 적극적으로 진행되고 있음에도 불구하고 국유기업의 경쟁력 개선에 장애가 되고 있다. Chinese government has been playing an vital role not only for an external arbitrator but also as an internal game player that seeks his own profit. Transformational changes of corporate governance and modern management system have been made, not only those of distribution and structure have been achieved, after restructuring with the new set of reform measures. But it is still very hard to accelerate opportunities for separating government functions of public affairs from managerial functions of State-owned assets owner. Twin governance structure focused on party-state system has been established to define the relationship between government and management, and has been providing some limits for corporate governance. Chinese State Owned Enterprises have a corporate governance system that includes CEO, Board of Directors, and Audit & Supervisory Committee, and also have the Communist Party Committee organization, so they have been establishing the twin governance structure. The State-owned Assets Supervision and Administration Commission of the State Council not only is responsible for the restructuring of State Owned Enterprises, but evalutes the performances of State Owned Enterprises, manages the state-owned assets of the enterprises under the supervision of the government, and hold to account State Owned Enterprises in which they own shares. The State Owned Enterprises corporate governance reforms that has systematic limitations has been an obstacle to the enhancement of competitiveness of State Owned Enterprises, although global strategies have been implemented aggressively.

중국 절강성 온주상(溫州商)의 역사적 형성에 관한 연구

이상빈(Sang bin Lee),조대우(Dae woo Cho) 한국경영사학회 2009 經營史學 Vol.51 No.-

중국 절강성 온주지역에서 온주상(溫州商)을 중심으로 한 비즈니스 네트워크와 원거리 무역을 통해 발전해 온 민영경제는 온주지역의 상업문화 전통과 역사에서 기인하였다. 그리고 온주의 상공업 전통과 민영기업조직의 행위는 계약 및 거래행위를 규범화시키고 사유재산권의 보호를 필요로 하는 상황 하에서 권리를 보호하고 경제적 효율성을 담보하는 제도로서 기능하였다. 특히 본 연구는 ‘역사제도적 분석’이라는 이론적 틀에 의거하여 중국 절강성에서 온주상이 형성되어 온 역사적 과정을 살펴보았다. 온주상에 대한 역사적 분석을 통해 이들 상인들의 상호 신뢰를 기초로 한 거래행위, 그리고 온주상간의 거래 네트워크는 불확실한 중국의 경제상황과 그리고 법제도적 규칙이 가변적인 환경에서 거래비용을 최소화시키는 요소임을 설명하였다. 또한 온주상의 문화전통에서 유래하는 창업정신과 온주의 민영기업가의 시장학습 및 혁신정신을 나타내는 ‘자기 강화적인’ 비즈니스 활동은 역사에서 축적된 온주의 경험으로서 지속적인 경제성장을 일궈 온 내적 동력이었음을 설명하였다. Despite Wenzhou has not benefited much from its local advantages as a geographically peripheral part of Zhejiang Province, Wenzhou Business People has successfully developed its private economy. The private economy of Wenzhou has been promoted by the tradition of historical trade and commerce in Wenzhou region which depends on a network of Wenzhou traders working throughout China. The tradition of business and its development of private enterprise in Wenzhou established the Wenzhounese personalized network to conduct commercial and trade activities using their own efforts, in which improved their own economic situation at considerable political risk. Futhermore, Wenzhou business people were historically influenced by the value of traditional Confucianism of ‘material bears morals’ from ‘the school of Yongjia thought’. This regional culture inspires Wenzhou business people to face market risks, and take responsibility to pursue the value of their property or to innovate organization of private enterprise. This study uses the theoretical approach of the ‘historical institutionalism’ to make an analysis the historical formation of Wenzhou business people and its private economy development. Finally, we attempted to explain that since the economic reform across rural China, the economic growth of Wenzhou is generally initiated from the ‘self-reinforced’ business activity of Wenzhou people which results from historical and cultural experience of Wenzhou region.