• The Korean Journal of Financial Studies
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• v.7 no.1
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• pp.171-195
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• 2001

본 연구의 목적은 실물옵션이론을 바탕으로 정유회사의 가치평가기법을 제공하는 것이다. 정유회사는 가치평가를 위해서 회계적 가치외에 관리적 유연성(managerial flexibility)을 고려해야 하기 때문에 기존의 DCF방법을 적용하기 보다는 실물옵션방법을 이용하여야 한다. 관리적 유연성은 회사관리자가 적용가능한 생산관리적 기법으로서 회사의 미래현금흐름에 영향을 주고 따라서 회사의 가치에 영향을 미친다. DCF방법은 이러한 관리적 유연성을 적절히 고려하지 못하여 회사의 가치를 저평가하는 오류를 발생시킨다. 반면 실물옵션방법은 관리적 유연성을 가치평가에 있어서 주요 변수를 인식하기 때문에 정확한 가치평가의 수단이 된다. 옵션가격결정을 위한 기초자산은 크랙스프레드(crack Spread)이다. 크랙스프레드는 경유(heating oil)와 무연휘발유(unleaded gasoline)의 가격과 원유(crude oil) 가격의 차이를 나타내며 정유회사의 정유순익(gross refining margin)을 대표한다. 실물옵션방법에 의한 정유회사의 가치는 DCF방법에 의한 가치보다 두 배가 크다는 결론을 제시한다. 즉 관리적 유연성이 존재하는 회사의 경우는 가치평가에 있어서 실물옵션방법을 이용하여 가치를 저평가하는 오류를 범하지 않아야 한다.

• Transactions of the Korean Society of Mechanical Engineers A
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• v.34 no.8
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• pp.965-970
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• 2010

Bolts and nuts are widely used to fasten mechanical parts together in machines and structures. The primary role of a nut is to maintain the axial force of a bolt. In this paper, a new type of a lock nut that uses a spring is studied. To have a spring within a nut, a cocking process to narrow the top of the nut is adopted, but cracking occurred in the process. In this study, strain of an initial model is measured using the finite element analysis program, MSC/Marc. The occurrence of the crack was studied by comparing the maximum observed strain of a model with the maximum strain indicated by an accurate stress-strain diagram of 1020 steel. Then, the structure of the lock nut was optimized by response surface analysis to prevent cracking. The prototype of the lock nut was manufactured on the basis of the optimization result, and cracking did not occur.

• Elastomers and Composites
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• v.45 no.2
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• pp.94-99
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• 2010

340 nm UV radiation of $2500\;kJ/m^2$ irradiated a thermoplastic elastomer (TPE) specimen used for interior and exterior materials of a car. After the UV irradiation, the black sample surface was changed to gray. Materials on the aged sample were collected and analyzed using GC/MS, but significant materials were not found. Lots of small cracks were found on the aged specimen surface. Whitening phenomenon of the aged sample disappeared by brushing or searing with a fire on the aged surface. After brushing or searing with a fire, small cracks on the surface vanished. Samples before and after the aging, and the treated samples with brush or fire were analyzed using image analyzer, SEM, EDX, and ATR and the results were compared. The vanished whitening phenomenon by brushing or searing was explained with filling the small cracks by polypropylene of TPE.

• The Journal of the Korea Contents Association
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• v.22 no.10
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• pp.546-553
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• 2022

This research has focused on identifying a significant cause of the pavement cracks and irregularities of roads in Changwon city which have been constructed using steel slag, an auxiliary-based material. It is important to note that the cracks and irregularities yield logistics inconvenience, the risk of traffic accidents, and increased road maintenance costs. X-ray diffraction analysis tests have been conducted in this study on the sample collected by pavement cutting and excavating the three target roads. It is well known that the primary cause of the expansion of steelmaking slag is the hydration reaction between CaO and MaO. While the reaction of CaO is completed within a few months, that of MgO is pretty slow depending on the firing temperature. The test results reveal that the MgO content of the testing samples is approximately 47% of the total average, and that of CaO is around 14% of the total average. Hence, these results make it possible to be understood that the expansion induced by the slow hydration reaction of MgO results in road uplift in the long term, resulting in the cracks and irregularities of roads.

• Transactions of the Korean Society of Mechanical Engineers
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• v.12 no.3
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• pp.473-480
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• 1988

In this study, a method that can realize the effect of residual stresses on fatigue crack propagation has been proposed. This method requires that the relaxation quantities of residual stresses are measured by experimental method according to fatigue cycles and are employed to the experimental results of base materials by introducing the concept of superposition. SS41 material has been analyzed as an example. The results show that the relaxation factor of residual stresses for fatigue cycles is .alpha.$_{i}$= 1/0.6903+0.0380 $a_{I}$ the effective stress ratio for fatigue crack propagation length is ( $R_{eff}$)$_{i}$ = 1/1.1274+0.0118$_{I}$ and the fatigue crack propagation rate for relaxation quantities of residual stresses is (da/dN)$_{t}$ = 0.5 $K_{cf}$ - .DELTA.K/{1-1/1.1274+0.0118$_{ai}$ } $K_{cf}$ - .DELTA. K(da/dN), for stress ratio /R=0.5.io /R=0.5.5.

• Proceedings of the Materials Research Society of Korea Conference
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• 2012.05a
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• pp.96.1-96.1
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• 2012

SOFC는 다른 연료전지보다 상대적으로 높은 구동 온도를 가지며 그로인해 높은 에너지 효율을 가진다. 먼저 금속연결제의 경우 높은 고온에서 산화 반응이 쉽게 일어나기 때문에 이로 인하여 연결재의 주요 특성인 전기전도도의 감소와 부피변화로 인한 크랙등이 유발되어 연결재의 주요 기능인 전기적인 연결 뿐만 아니라, 물리적으로 양극과 음극의 차폐 또한 어려워져 장기 구동에 있어서 주요 결함의 원인이되고 있다. 이로 인하여 많은 세라믹 연결재의 개발이 진행되어왔고, 이중에서 perovskite-structure를 가지는 LCO계의 연결재에 대한 연구가 활발히 진행되고 있다. $LaCrO_3$는 열팽창 계수가 주요 구성소재들과 유사하다는 장점과 도핑과 친환으로 인하여 특성제어가 용이하다는 이유 때문에 주로 사용되고 있다. 그러나 $LaCrO_3$는 낮은 전기전도도와 높은 소결온도에서 Cr휘발되는 단점이 있다. 이를 해결하기 위해서 A에 희토류와 B-site에 전위금속을 치환하여 소결 온도를 낮춘 연구들이 진행 되었다. 본 연구에서는 이런 결과 중 $La_{0.7}Ca_{0.3}Cr_{0.9}Co_{0.1}O_3$조성에 소결조제를 첨가하여 그에 따른 특성변화를 관찰하였다.

• Journal of Korea Foundry Society
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• v.26 no.4
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• pp.180-183
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• 2006

The effects of adding Ni on microstructure and mechanical properties of Nodular Indefinite Chilled Iron (NICI) were studied. Thermal fatigue, hardness, tensile properties, wear resistance, are very important factors for NICI used for hot working roll and wire rod mill. The results show that addition 4% nickel has changed pearlite to bainite. Bainite matrix is superior to pearlite matrix on wear resistance, hardness and strength and will increase performance lifetime of NICI conventional roll material. Based in the bainitic microstructure, hardness and tensile property increase up to 48 HRc and $72\;kg/mm^2$, respectively.

• Transactions of the Korean Society of Mechanical Engineers A
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• v.37 no.4
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• pp.443-446
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• 2013

An infrared thermography technique can be used to inspect a large area simultaneously and to detect defects such as cracks or delaminations in real time. Infrared thermography is a technique in which visual images are formed from the infrared range from subjects according to their thermal radiation. The molecules of all objects are disturbed by heat, and the molecular motion becomes more active when the temperature rises and less active when the temperature falls. In this study, the applicability and feasibility of ultrasound thermography for detecting defects in an engine block, which is a key component in the automobile industry, were verified. A nondestructive reliability test was conducted to study the defects, after which the results were analyzed.

• The Journal of Engineering Geology
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• v.7 no.2
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• pp.91-99
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• 1997

In general, there are various approaches available in literature to model discontinuous rock masses and engineers are often confused which one to use for designing structures in rock masses. Modelling rock masses can be classified mainly into two approaches. One is discrete modelling of intact rock and discontinuities and the other is the equivalent continuum modelling. In this study five models are selected ;(1) Crack tensor model, (2) Equivalent volume defect model, (3) Damage model, (4) Micro - structure model (Parallel model and Series model), and (5) Homogenization model. Most of these models are mainly concerned with how to define additional strain due to discontinuities over the representative elementary volume (REV) and how to relate the stress field of discontinuities to that acting on the REV. The characteristics of these models are clarified by comparing with results of some laboratory tests.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.19 no.4
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• pp.138-142
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• 2018

This study used HILS to test an expansion joint, which is vulnerable to the water hammer effect. The operation data for the HIL simulator was the length rate of the expansion joint by the water hammer, which was used for life prediction based on the vibration durability. For the vibration durability test, the internal pressure of the expansion joint was assumed to be a factor of the durability life, and the lifetime prediction model equation was obtained by curve fitting the lifetime data at each pressure. During the test, the major failure modes of crack and water leakage occurred on the surface of the bellows part. The lifetime prediction model typically follows an inverse power law model. The pressure is a stress factor, and the model is effective in only a specific environment. Therefore, another stress factor such as temperature will be added and considered for a mixed lifetime prediction model in the future.