• The Korean Journal of Financial Management
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• v.25 no.4
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• pp.25-51
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• 2008

In this paper, we analyse empirically the fixed asset investment smoothing of working capital of firms listed on Korea Securities Market. The main results of this study can be summarized as follows. Firms will seek to lower long-term cost by smoothing fixed asset investment and maintaining stationary investment with working capital. Working capital is not only an important use of fund, but also a source of liquidity that should be used to smooth fixed asset investment relative to cash flow shocks if firms face financial constraints. Working capital investment is more sensitive than fixed asset investment to cash flow fluctuations. If firms face financial constraints, working capital investment will compete with fixed asset investment for the limited pool of available cash flows. So, fixed asset investment will have negative relationship with working capital investment. However, criticism that the positive correlation between cash flows and fixed asset investment could arise simply because cash flows is proxy variable for investment demand. Finally, controlling for the fixed asset investment smoothing effects of working capital results in a much larger estimate of the long run impact of financial constraints. Financial constraints is measured by dividend payout ratio and market access level. Fazzari et al. (1988), Fazzari and Petersen (1993), and Faulkender et al. (2008) emphasize that low dividend firms or market unaccessible firms are more likely to face financial constraints, and rarely make use of new equity issuing. The results from empirical analysis show that financial constraints can be better explained using 'adjustment cost' concept. Specifically, the results show that financial constraints exist and that in order to measure financial constraint effects more succinctly, fixed asset investment smoothing effects with working capital should be considered.

• Proceedings of the Korean Society of Broadcast Engineers Conference
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• 2003.11a
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• pp.17-20
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• 2003

동등한 영상의 풀질을 유지하면서 기존의 비디오 압축 표준보다 30퍼센트 이상의 비트 절감효과를 내는 H.264/MPEG-4 Part 10 AVC(Advanced Video Coding) 표준이 최근 확정되었다. AVC는 국내 지상파 DMB(Digital Multimedia Broadcasting) 멀티미디어 서비스의 비디오 표준으로도 채택되어 많은 관심을 불러일으키고 있다. 본 논문에서는 H.264/AVC 부호기를 위한 고정 비트 율 제어 알고리듬을 구현하고 이를 실험을 통하여 검증하였다. 비디오 부호화 과정에서 각 픽처마다 발생하는 비트 량이 같지는 않지만 부호기 출력 비트 율은 일정하게 한 수 있으며 이를 고정 비트 율 제어라 한다 부호기는 입력 영상의 복잡도를 예측하고 실제 버퍼 점유도에 대한 피프백 정보를 이용하여 발생 비트 수글 조절한다. 특히 전송 대역폭 제한사항이 있는 고정 비트 율 채널 환경에서 비디오 부호기의 고정 비트 율 제어는 반드시 필요하다. JVT에서 제공하는 참조 소프트웨어인 JM(Joint Model) 소프트웨어가 아직까지 고정 비트 율 제어 기능을 지원하지 않으므로, MPEG-2 Part 2 Video 표준과 MPEG-4 Part 2 Visual 표준에서 고정 비트 율 제어에 이용되었던 TM5 고정 비트 율 제어 모델을 적용하여 H.264/AVC 부호기의 고정 비트 율 제어를 구현하였다.

• Journal of the Korean Society for Aeronautical & Space Sciences
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• v.33 no.6
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• pp.1-7
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• 2005

Incompressible Reynolds-averaged Navier-Stokes equations with $\varepsilon{-SST}$ turbulence model are adopted for the investigation of the flow fields between the square cylinder and the ground. When the grounds moves, the diminish of the shear layer intensity on the ground promotes the interaction between the lower and the upper separated shear layer of the cylinder. Hence vortex shedding occurs at the lower gap height than stationary ground. In the moving ground, the secondary shedding frequency disappears due to the absence of the separation bubble on the ground which exists in the stationary ground. In addition, the shedding frequency and aerodynamic coefficients in the moving ground become higher than those of the stationary ground.

• The Journal of Korean Institute of Communications and Information Sciences
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• v.28 no.10A
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• pp.830-837
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• 2003

The interests of HEO is growing due to the congestion of GSO. ITU-R is studying about the pfd for HEO FSS in the 4GHz and 11GHz bands that will adequately protect the FS and, at the same time, will better reflect HEO FSS satellite requirements. We simulated and analysed the interference effects from the USAKU-H2 type of HEO FSS system into the FS receive station in these bands. Based on our analysis, we evaluated if the pfd masks proposed in ITU-R provided the appropriate protection to the FS located at near latitude 40$^{\circ}$N.

• Economic Analysis
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• v.27 no.3
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• pp.33-60
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• 2021

This study estimates the fiscal multiplier using Input-Output table panel data from year of 2010 to 2018. Considering the endogeneity of the government expenditure, this study uses the share of government expenditure by sector in the initial period as an instrument variable. The estimation from the panel fixed effect instrumental variables model shows that the estimate for the current period of government expenditure is 1.15~1.22 and the estimate for the cumulative multiplier is 1.23~1.32 depending on the method of controlling time trend. Since the general equilibrium effect absorbed by the time-fixed effect in the estimation equation, the estimated multiplier in this study may be different from the multiplier of the economy as a whole. The general equilibrium effect depends on the response of monetary policy, changes in tax policy, and interaction between sectors.

• Proceedings of the Korean Statistical Society Conference
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• 2005.05a
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• pp.1-6
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• 2005

SAS의 PROC MIXED는 ANOVA 추정량보다 더 다양한 잔차최대우도추정법 또는 최대우도추정법으로 모수들을 추론할 수 있다. 혼합모형에 속하는 불균형중첩오차구조를 갖는 선형회귀모형에서 랜덤효과에 해당되는 그룹간의 분산과 고정효과에 해당되는 회귀계수들에 대한 신뢰구간을 구하기 위하여 대표본인 경우와 소표본인 경우에 대하여 PROC MIXED를 사용한다. 시뮬레이션을 실행한 결과, 대표본인 경우에는 모수들의 신뢰구간을 구하기 위하여 PROC MIXED를 활용할 수 있지만, 소표본인 경우에는 PROC MIXED를 사용할 경우, 그룹간 분산과 회귀계수 가운데 하나인 절편항에 대한 신뢰구간은 시뮬레이터된 신뢰계수가 명시한 신뢰계수를 지키지 못하는 것을 보인다.

• The Transactions of the Korean Institute of Power Electronics
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• v.4 no.2
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• pp.209-214
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• 1999

New estimation and tuning schemes of inductance variations for rotor flux oriented (RFO) control of induction motor in field weakening region are presented. Stator transient inductance and stator self inductance are estimated. From estimated stator self inductance. magnetizing inductance is estimated and from estimated stator transient inductance, rotor leakage inductance is estimated. Simulation and experimental results prove the effectiveness of the proposed s scheme in constant torque and field weakening region.

• Journal of the Korea Organic Resources Recycling Association
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• v.19 no.2
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• pp.16-21
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• 2011

Immobilization of biosorbent is very important for application to real wastewater treatment process because biosorbent itself does not have enough tough structure. Therefore, resent research on heavy metal biosorption using biomass has been focused on its efficient immobilization method. To improve the mechanical strength of freely biosorbent, many immobilization methods have been suggested for applications to the biosorbent such as microorganisms or polysaccharides. In this study, various immobilization methods such as adsorption, covalent binding, entrapment, encapsulation, and crosslinking will be introduced.

• Journal of Labour Economics
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• v.37 no.4
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• pp.59-88
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• 2014

I estimate the non-market effects of implementing five-day workweek controlling for the individual-job fixed effect. I find that the implementation of five-day workweek has improved an individual's subjective health status, increased the frequency of exercises, increased the probability to get education or training other than job training, improved subjective quality of life, increased spending for leisure and cultural activities, and improved an individual's satisfaction with the job and the employer. Much of the effects are due to reduction not of working hours but of working days.

• Progress in Medical Physics
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• v.15 no.1
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• pp.30-38
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• 2004

Purpose: To develop a whole body frame for the purpose of reducing patient motion and minimizing setup error for extra-cranial stereotactic radiotherapy, and to evaluate the repositioning setup error of a patient in the frame. Materials and Methods: The developed whole body frame is composed of a base plate, immobilizer, vacuum cushion, ruler and belts. The dimension of the base plate is 130 cm in length, 50 cm in width and 1 cm in thickness. The material used in the base plate of the frame was bakelite and the immobilizer was made of acetal. In addition, Radiopaque angio-catheter wires were engraved on the base plate for a coordinate system to determine the target localization. The measurement for radiation transmission and target localization is peformed in order to test the utilization of the frame. Also, a Matlab program analyzed the patients setup error by using the patient's setup images obtained from a CCTV camera and digital record recorder (DVR). Results: A frame that is useful for CT simulation and radiation treatment was fabricated. The frame structure was designed to minimize collisions from the changes in the rotation angle of the gantry and to maximize the transmission rate of the Incident radiation at the lateral or posterior oblique direction. The lightening belts may be used for the further reduction of the patient motion, and the belts can be adjusted so that they are not in the way of beam direction. The radiation transmission rates of this frame were measured as 95% and 96% at 10 and 21 MV, respectively. The position of a test target on the skin of a volunteer is accurately determined by CT simulation using the coordinate system in the frame. The estimated setup errors by Matlab program are shown 3.69$\pm$1.60, 2.14$\pm$0.78 mm at the lateral and central chest, and 7.11 $\pm$2.10, 6.54$\pm$2.22 mm at lateral and central abdomen, respectively. The setup error due to the lateral motion of breast is shown as 6.33$\pm$ 1.55 mm. Conclusion: The development and test of a whole body frame has proven very useful and practical in the radiosurgery for extra-cranial cancers. It may be used in determining target localization, and it can be used as a patient immobilization tool. More experimental data should be obtained in order to improve and confirm the results of the patient setup error.