• 재무관리연구
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• 제26권2호
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• pp.155-180
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• 2009

본 연구에서는 한국의 원화, 멕시코의 페소화, 브라질의 리알화 등 신흥 통화선물시장과 유럽의 유로화, 일본의 엔화, 영국의 파운드화 등 선진 통화선물시장을 대상으로 최적헤지비율을 추정하고, 외표본헤지기간을 두고 헤징유효성을 측정 및 비교하고자 하였다. 헤지비율은 모수의 추정기간을 한기간씩 이동하여 모수를 추정하는 롤링 윈도우즈(rolling windows)에 따른 OLS 모형, 오차수정모형과 일정 조건부 상관관계 이변량 GARCH(1, 1) 모형에 의해 추정하였다. 본 연구의 주요 결과는 다음과 같이 요약할 수 있다. 첫째, 일별, 주별, 월별 등 헤징기간에 관계없이 어떠한 헤징모형을 이용하더라도 한국 원/달러 선물을 이용한 헤징은 현물환율의 가격변동위험을 97% 상회할 정도로 감소시키고 있음을 보여주고 있다. 둘째, 일별, 주별, 월별 등 헤징기간에 관계없이 한국 원화 선물시장은 브라질 리알화, 멕시코 페소화 등 신흥통화 선물시장과 유럽 유로화, 영국 파운드화, 일본 엔화 등의 선진통화 선물시장보다 현물환율의 변동위험에 대한 헤징수단으로 우월함을 보여주고 있다. 이는 한국 원/달러 통화선물이 현물환율의 위험관리수단으로 유용성이 매우 높고 위험관리도구로서 역할을 성실히 수행하고 있음을 보여주는 것이라 할 수 있다. 셋째, 헤징모형 간의 헤징유효성을 비교하면, 신흥통화와 선진통화에 관계없이 최적헤지 비율의 추정에 이용된 단순모형, OLS 모형, 오차수정모형, 그리고 CCC BGARCH(1, 1) 모형에 따른 헤징성과에 유의한 차이가 없음을 보여준다. 이러한 결과에 비추어 볼 때, OLS 모형, 오차 수정모형, 이변량 GARCH(1, 1) 모형 등의 복잡한 계량모델을 이용한 헤징보다 단순히 현물보유 포지션과 반대되는 동일한 금액의 포지션을 선물시장에 취하는 단순모형을 이용한 헤징이 유용할 수 있음을 시사하고 있다. 넷째, 신흥통화와 선진통화에 관계없이 헤징기간이 늘어날수록 헤징유효성 또는 헤징성과가 높아지고 있음을 보여주고 있다.

• International Journal of Aeronautical and Space Sciences
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• 제14권2호
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• pp.152-161
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• 2013

This paper presents a control effectiveness analysis of the hawkmoth Manduca sexta. A multibody dynamic model of the insect that considers the time-varying inertia of two flapping wings is established, based on measurement data from the real hawkmoth. A six-degree-of-freedom (6-DOF) multibody flight dynamics simulation environment is used to analyze the effectiveness of the control variables defined in a wing kinematics function. The aerodynamics from complex wing flapping motions is estimated by a blade element approach, including translational and rotational force coefficients derived from relevant experimental studies. Control characteristics of flight dynamics with respect to the changes of three angular degrees of freedom (stroke positional, feathering, and deviation angle) of the wing kinematics are investigated. Results show that the symmetric (asymmetric) wing kinematics change of each wing only affects the longitudinal (lateral) flight forces and moments, which implies that the longitudinal and lateral flight controls are decoupled. However, there are coupling effects within each plane of motion. In the longitudinal plane, pitch and forward/backward motion controls are coupled; in the lateral plane, roll and side-translation motion controls are coupled.

• Journal of Advanced Marine Engineering and Technology
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• 제29권7호
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• pp.736-743
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• 2005

In this study, three different types of mechanical ventilation systems are compared based on their ventilation characteristics: tracer gas concentration decay characteristics, and ventilation effectiveness by calculating actual ventilation air flow rate. The experiments are performed by using a step-down method for measuring tracer gas. $CO_{2}$ gas, concentration in the model chamber. Application of a mixing factor, k, was used and measured values ranged from 0.68 to 0.77. The Type 2 ventilation system was found to have the highest ventilation effectiveness rather than the Types 1 and 3.

• KDI Journal of Economic Policy
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• 제45권4호
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• pp.1-22
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• 2023

We review the literature on the effectiveness of capital controls and macroprudential measures. First, we explain the purposes and examples of capital controls and macroprudential policies. We then analyze various theoretical models and empirical findings from prior studies that investigate the effectiveness of each instrument. Moreover, we review several studies that directly compare the two instruments and discuss whether policymakers should implement capital controls or macroprudential measures to overcome financial crises. Finally, based on a discussion of the findings of previous studies, we suggest several possible avenues for future research.

• 한국측량학회지
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• 제33권3호
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• pp.203-209
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• 2015

This paper discusses the effectiveness of using Landsat 8 TIR (Thermal Infrared) band images to improve the accuracy of landuse/landcover classification of urban areas. According to classification results for the study area using diverse band combinations, the classification accuracy using an image fusion process in which the TIR band is added to the visible and near infrared band was improved by 4.0%, compared to that using a band combination that does not consider the TIR band. For urban area landuse/landcover classification in particular, the producer’s accuracy and user’s accuracy values were improved by 10.2% and 3.8%, respectively. When MLC (Maximum Likelihood Classification), which is commonly applied to remote sensing images, was used, the TIR band images helped obtain a higher discriminant analysis in landuse/landcover classification.

• 한국초전도ㆍ저온공학회논문지
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• 제22권4호
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• pp.45-50
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• 2020

In this research, the variation of round-trip efficiency in a liquid air energy storage system (LAES) is calculated and an optimal configuration is found. The multiple stages of cold energy storage are simulated with several materials that process latent heat at different temperature ranges. The effectiveness in the charging and discharging processes of LAES is newly defined, and its relationship with the round-trip efficiency is examined. According to defined correlation, the effectiveness of the discharging process significantly affects the overall system performance. The round-trip efficiency is calculated for the combined cold energy storage materials of aqueous dimethyl sulfoxide (DMSO) solution, ethanol, and pentane theoretically. The performance of LAES varies depending on the freezing point of the cold storage materials. In particular, when the LAES uses several cold storage materials, those materials whose freezing points are close to room temperature and liquid air temperature should be included in the cold storage materials. In this paper, it is assumed that only latent heat is used for cold energy storage, but for more realistic analyzes, the additional consideration of the transient thermal situation to utilize sensible heat is required. In the case of such a dynamic system, since there is certainly more increased heat capacity of the entire storage system, the volume of the cold energy storage system will be greatly reduced.

• Nuclear Engineering and Technology
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• 제54권4호
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• pp.1245-1252
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• 2022

As regulatory bodies require full implementation of security controls in nuclear power plants (NPPs), security functions for critical digital assets are currently being developed. For the ultimate introduction of security controls, not alternative measures, it is important to understand the relationship between possible cyber threats to NPPs and security controls to prevent them. To address the effectiveness of the security control implementation, this study investigated the types of cyber threats that can be prevented when the security controls are implemented through the mapping of the reorganized security controls in RS-015 to cyber threats on NPPs. Through this work, the cyber threat that each security control can prevent was confirmed, and the effectiveness of several strategies for implementing the security controls were compared. This study will be a useful reference for utilities or researchers who cannot use design basis threat (DBT) directly and be helpful when introducing security controls to NPPs that do not have actual security functions.

• Asian Pacific Journal of Cancer Prevention
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• 제16권15호
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• pp.6765-6768
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• 2015

Aims: To study the effectiveness of human recombinant endostatin injection (Endostar(R)) combined with cisplatin doublets in treating advanced non-small cell lung cancer (NSCLC), and to evaluate outcome by CT perfusion imaging. Methods: From April 2011 to September 2014, 76 patients with advanced NSCLC who were treated with platinum-based doublets were divided into group A (36 patients) and group B (40 patients). Endostar(R) 15mg/day was administered 4 days before chemotherapy and combined with chemotherapy from day 5 in group A, and combined with chemotherapy from the first day in Group B. Endostar(R) in the two groups was injected intravenously for 14 days. Results: Treatment effectiveness in the two groups differed with statistical significance (p<0.05). Effectiveness evaluated by CT perfusion imaging, BF, BV, MTT and PS also demonstrated significant differences (all p<0.05). Adverse reactions in the two groups did not significantly vary (p> 0.05). Conclusions: The response rate with Endostar(R) administered 4 days before chemotherapy and combined with chemotherapy from day 5 in group A was better than Endostar(R) combined with chemotherapy from the first day, and CT perfusion imaging could be a reasonable method for evaluation of patient outcomes.

• 대한전기학회:학술대회논문집
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• 대한전기학회 1997년도 하계학술대회 논문집 F
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• pp.2072-2074
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• 1997

A new low-cost high power factor correction circuit for electronic ballasts is proposed. The proposed circuit provides good power factor correction, low current harmonic distortion and cost-effectiveness. The prototype meets the IEC555-2 requirements satisfactorily with nearly unity power factor.

• International Journal of Advanced Culture Technology
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• 제7권1호
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• pp.49-57
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• 2019

The main purpose of the research is to examine impact of organizational justice and perceived organizational support on effectiveness of crime control in police organizations. This research employs a survey questionnaire to measure organizational justice, perceived organizational support, and effectiveness of crime control. The number of subject of the study is 285 police officers working in Daegu metropolitan city and some cities of Gyeongsangbuk-do province. The study employs regression analysis to analyze the effect of organizational justice and perceived organizational support on police performance. As the result of analysis, the effect of organizational justice on effectiveness of crime control is statistically significant at the level 0.01, perceived organizational support at the level 0.05. The key finding of this study is that in the performance-based management system, the reciprocal relationships between managers and individual officers with organizational justice and perceived organizational support play an important role in building a sustainable growth system in the police.