• Management & Information Systems Review
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• v.34 no.3
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• pp.125-140
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• 2015

KOSDAQ market reorganized their division system from two types to four types of division departments such as blue chip, venture, medium, and technology development departments in 2011. However, under the current new division system, financially unhealthy firms attempting to take advantage of the classifying opportunity of blue chip department are likely to engage in pernicious earnings management. The objective of this study is to investigate the earnings management behavior surrounding the time of KOSDAQ firms entering the blue chip department via new division system. More specifically, we test whether the firms classified blue chip department tend to engage in upward earnings management using accruals and real activities before and after they achieve blue chip status. In this study, we analyzed 111 firms classified blue chip department in 2011 according to new division system in KOSDAQ market. Major test results indicate that firms entering the blue chip department according to current KOSDAQ division system in general, tend to inflate reported earnings by means both of accruals and real activities right before the entering year. This result suggests that the firms classified blue chip department engage in opportunistic earnings management with a view to uplifting their market values. Our study is expected to provide clues useful for searching policy directions which intend to ameliorate adverse side effects of the current KOSDAQ division system. In sum, the regulatory authorities and enforcement bodies need to exercise caution in deliberating more stringent review procedures so that financially healthy and promising candidates are properly segregated from their poor and risky counterparts, thus enhancing the beneficial effects, while mitigating adverse side effects of the system.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.26 no.1D
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• pp.59-66
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• 2006

This study was to construct the linear density predictive models on the on-ramp junctions in urban freeway. From the analyses of the real-time traffic characteristic data, and the construction and verification of the linear density predictive models, the models showed a considerable explanatory power with the determination coefficients ($R^2$) of over 0.7 between the density and speed data. Also, they showed a considerably high correlativeness with the correlation coefficients (r) of over 0.8 between the calculated density data and the expected ones estimated by the models.

• Korean Journal of Environment and Ecology
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• v.31 no.1
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• pp.104-111
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• 2017

The construction of road tunnels and bridges have delivered driving efficiency and stability based on developed engineering technology. Tunnels have the advantage of reducing the deforested area compared with other road construction methods. Since a tunnel is an underground passageway dug through the surrounding soil/earth/rock and enclosed except for the entrance and exit, commonly at each end, it does not cause a large amount of deforestation. This study surveyed the deforested areas at each end of the tunnel by the design of the tunnel entrance and exit and forest topography to minimize the amount of deforestation caused by road construction. A survey was done on a total of 150 tunnels (300 entrances and exits) on several main roads in Korea. The deforested area of each tunnel was collected by a breakdown of the entrance area and the upper area of the tunnel. According to the results of Kruskal-Wallis analysis, it was found that there was statistically a significant relation between the location of tunnels and the amount of deforestation by the topographical access type of the tunnels. The tunnel with 'facing orthogonal to incline' type access caused the smallest deforestation while the the tunnel with 'facing to valley' and 'parallel with incline' type accesses caused large deforestation during tunnel construction. Tunnel positioning in the light of topography can reduce the deforested area by up to 1.5ha at each tunnel.

• 한국벤처창업학회:학술대회논문집
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• 2006.11a
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• pp.161-195
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• 2006

비공개기업이 상장할 수 있는 방법은 신규상장(IPO)과 기존의 상장기업을 인수하여 소위 우회상장을 하는 방법이 있다. 전자는 제도에 의한 자본시장 진입인데 반해 후자는 시장거래에 의한 자본시장 진입이라는 점에서 후자가 시장원칙에 가깝다고 할 수 있다. 그럼에도 불구하고 상장사 인수는 부실기업이 자본시장에 진입하는 것을 차단할 수 있는 심사기능이 약하고, 시장진입 시 정보를 시장에 제공하는 정보기능이 약하다는 가정에 기초하여, 신규상장에 비해 비효율적이라는 주장이 제기될 수 있다. 따라서 상장사 인수가 신규상장에 비해 비효율적인 시장진입 방식인가에 대해서는 실증적인 고찰이 필요하다. 본 연구에서는 상장사 인수의 경우 상장사 기존주주의 부가 훼손되고, 신규상장에 비해 정보의 효율성도 떨어질 것이라는 가설을 세우고 실증분석을 해 보았다. 이를 위해 $2000{\sim}2005$년 6윌 기간에 비공개기업이 상장사 경영권을 인수한 사례를 가지고, 인수공시 전후의 비정상수익률을 측정하여 주주의 부에 미치는 영향을 측정하였다. 또한 인수공사일 종가를 시초가로 하는 향후의 장단기 초과수익률을 측정하여 이를 토대로 시장진입일 배포된 정보가 효율적이었는지를 알아보았다. 그리고 각각의 상장사 인수 사례에 대해 같은 시기, 같은 산업, 같은 시장에서 신규로 상장했던 종목을 모아 매칭샘플을 만들고 상장사 인수 샘플과 비교분석하였다. 그 결과 상장사 인수 시 상장사의 기존주주는 유의적인 자본이득을 향유함이 밝혀졌고, 정보의 효율성도 신규상장에 비해 유의적으로 낮다는 일관적인 증거를 찾지 못하였다. 다만 상장사 인수가 무자본 인수의 형태를 취할 때는 시장의 주의가 요망된다.

• International Journal of Highway Engineering
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• v.14 no.3
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• pp.173-182
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• 2012

Entry and exits of the rest area are sections where designed speed can be rapidly change and also a weak traffic safety section. In addition, two tasks can be performed simultaneously at entry of the rest area, particularly searching for deceleration and parking spaces/parking sides etc. Thus, design criteria is required in order to procure the stability of accessed vehicle. In case of Korea, geometric structure design criteria of entry facilities, such as toll-gate, interchange, junction etc was established. However there are no presence in a detailed standards for geometric structure of the rest area which affiliated road facilities. In this study, Derive problems in regards to the entry of geometric structure of resting areas by utilizing a sight survey and an investigation research of traffic accidents. The survey was targeting 135 general service areas. After Classifying the design section of resting areas' entry as well as derive design elements on each section, a speed measurement by targeting entry of rest areas and car behavior surveys were performed, then each element's minimum standard was derived through the analyses. According to the speeds at the starting/end point of entrance connector road, the minimum length of the entrance connector road is decided as 40m using Slowing-down length formula and based on the driving pattern, the range of the junction setting angle of the entrance connector road is defined as $12^{\circ}{\sim}17^{\circ}$. Suggest improvement plans for existing rest areas that can be applied realistically. This should be corresponded to the standards of entry and exit of developed rest areas.

• Proceedings of the Korean Institute of Landscape Architecture Conference
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• 2014.03a
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• pp.91-92
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• 2014

• Journal of the Korean Society for Railway
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• v.16 no.6
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• pp.454-459
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• 2013

Pressure waves are generated and propagate in a tunnel when train enters tunnel high speed. A compression wave due to the entry of train head propagates along the tunnel and is reflected at tunnel exit as an expansion wave. An expansion wave due to the entry of the train tail propagates along the tunnel and is reflected at tunnel exit as a compression wave. These pressure waves are repeatedly propagated and reflected at the tunnel entrance and exit. Severe pressure changes causes ear-discomfort for passengers in the cabin and micro pressure waves around the tunnel exit. It is necessary to analyze the transient pressure phenomena in tunnels qualitatively and quantitatively, because pressure change rate is considered as one of the major design parameters for optimal tunnel cross sectional area and repeated fatigue force on car body. In this study, we developed a characteristics method based on a fixed mesh system and boundary conditions for crossing trains and analyzed this system using an X-t diagram. The results of the simulation show that offsetting of pressure waves occurs for special entry conditions of a crossing train.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.29 no.2D
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• pp.227-234
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• 2009

At present, the length of deceleration lane at freeway diverging areas are designed based on the design speed of main lines and ramps. This is possible on assumption that diverging vehicles decelerate at deceleration section after moving to shoulder lane in advance. But with high diverging volume, several vehicles will try to change to exit lane at the same time. This will cause the distribution of main lane flows or some vehicles may encounter short deceleration length because they miss the proper time to change the lane. The purpose of this study is to establish a design guideline of the length of deceleration section considering the volume of diverging traffic. Also, the results of analysis by the FRESIM simulation model shows that some improvements in respect of delays, speeds and speed deviations of mainline and deceleration lane.

• Journal of Korean Society of Transportation
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• v.28 no.3
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• pp.29-37
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• 2010

Ramp metering control is the most representative strategy of uninterrupted flow control and management system. Ramp metering is to adjust vehicles entering an expressway in such a way that expressway mainline maintains flow stability by regulating ramp vehicles. The effect of two metering strategies, single-entry metering and platoon metering, on mainstream under the same metering rate with pre-timed metering are analyzed by micro-simulation. Platoon metering shows lower performance than single-entry metering under the same metering rate in terms of speed, density, and delay, causes earlier breakdown than single-entry metering. It indicates that the selection of metering type has critical importance as the flow of mainline is high.

• Proceedings of the KOR-KST Conference
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• 1999.10a
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• pp.141-146
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• 1999

본 연구는 평면곡선부의 차량속도변화와 교통사고에 대한 영향을 분석하기 위해 수행되었으며, 이를 위해 곡선반경별로 진입부 직선도로 - 곡선부 - 이탈부 직선도로로 구분하여 각 주행속도를 산정하였다. 본 연구에서는 선행차량에 의해 영향을 받지 않는 속도를 이용하여 평면곡선부 기하구조의 영향을 분석하였다. 이러한 곡선부의 주행 속도를 분석한 결과, 곡선반경별 최저속도와 그 속도가 나타나는 위치를 분석하였고, 해당 도로구간의 교통사고자료를 분석하여 평면곡선부의 차량주행속도변화와 교통사고 발생간의 관계를 규명하였다. 연구 결과는 다음과 같다. 첫째, 운전자들은 곡선시작지점에 도착하기 전에 충분히 속도를 줄이고, 곡선부에서 가장 낮은 속도가 나타나는 위치는 곡선시점의 후방에서 나타나고 이는 운전자의 시거에 의한 영향이다. 둘째, 곡선부에서의 속도변화폭이 클수록 사고위험성은 크고 실제 교통사고의 발생건수는 높다. 본 연구의 결과에 의해 도로 주행의 안전성을 고려한 평가지표를 개발할 수 있으며, 이에 의한 일관성 있는 도로설계를 유도할 수 있다.