• KDI Journal of Economic Policy
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• v.15 no.4
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• pp.155-173
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• 1993

주식수익율(株式收益率)의 조건부분산(條件附分散)의 움직임을 모형화(模型化)하기 위하여 Engle(1982)의 ARCH(Autoregressive Conditional Heteroskedasticity)모형(模型)을 효시(嚆矢)로 많은 종류의 모형(模型)이 제시되어 왔다. 이 가운데서 Nelson(1991)의 EGARCH(Exponential Generalized ARCH)는 종래의 모형(模型)에 비하여 여러가지 장점(長點)을 지니고 있는 모형(模型)이다. 그러나 EGARCH에서는 비기대수익율(非期待收益率)(unexpected return)이 조건부분산(條件附分散)에 미처는 규모효과(規模效果)(magnitude effect)와 비대칭효과(非對稱效果)(asymmetry effect)의 영향(影響)이 동일한 동태(動態)(dynamics)를 보인다고 가정(假定)하고 있다. 본(本) 논문(論文)은 이 가정(假定)을 완화하였을 때 규모효과(規模效果)와 비대칭효과(非對稱效果)가 매우 다른 동태(動態)를 가지며, 특히 규모효과(規模效果)의 영향은 오래 지속되는 반면 비대칭효과(非對稱效果)는 비교적 빠르게 사라짐을 보여준다.

• Journal of Korean Society of Coastal and Ocean Engineers
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• v.5 no.3
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• pp.240-249
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• 1993

The suspended sediment mechanism was systematically investigated by analyzing existing data together with new data obtained under several wave folds. A simple empirical formula has been developed to predict the time-averaged suspended sediment concentration above movable bed by the effect of wave and current interaction. The present study shows linear dependency of the diffusion coefficient of suspended sediment on the eddy viscosity coefficient obtained by considering the ripple geometry. Furthermore, it is proved that reference sediment concentration is reduced by the effect of ripple asymmetry.

• Proceedings of the KIEE Conference
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• 2005.07b
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• pp.1086-1088
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• 2005

It is necessary to modify the state-of-the-art of vector control theory, because of the phase asymmetry(static end effect) in the Linear Induction Motor(LIM). The dynamic characteristic analysis method of the vector controlled LIM using coupled FEM and control algorithm taking into account the movement is proposed. The focus of this paper is the analysis relative to phenomena of static end effect due to the motor structure. To prove the propriety of the proposed method, the Digital Signal Processor(DSP) installed experimental devices are equipped and the experiment is performed.

• Journal of Drive and Control
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• v.13 no.1
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• pp.34-42
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• 2016

This study studied how the clearance, overlap and mismatch errors of spool-sleeve affect the static pressure characteristics of a servo valve. A computer simulation model was established as a direct acting servo valve and a series of simulations was conducted for various values of clearance, overlap and mismatch errors. Pressure gain decreased as the clearance increased. The overlap also affects the pressure gain and was similar to the effect of clearance. Asymmetry of the pressure plot got worse and worse as the mismatch error increased.

• Earthquakes and Structures
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• v.9 no.1
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• pp.145-171
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• 2015

Due to earthquakes, many structures suffered extensive damages that were attributed to the torsional effect caused by mass, stiffness or strength eccentricity. Due to this type of asymmetry torsional moments are generated that are imposed by means of additional shear forces developed at the vertical resisting structural elements of the buildings. Although the torsional effect on the response of reinforced concrete buildings was the subject of extensive research over the last decades, a quantitative index measuring the amplification of the shear forces developed at the vertical resisting elements due to lateral-torsional coupling valid for both elastic and elastoplastic response states is still missing. In this study a reliable index capable of assessing the torsional effect is proposed. The performance of the proposed index is evaluated and its correlation with structural response quantities like displacements, interstorey drift, base torque, shear forces and upper diaphragm's rotation is presented. Torsionally stiff, mass eccentric single-story and multistory structures, subjected to bidirectional excitation, are considered and nonlinear dynamic analyses are performed using natural records selected for three hazard levels. It was found that the proposed index provides reliable prediction of the magnitude of torsional effect for all test examples considered.

• The Korean Journal of Community Living Science
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• v.26 no.1
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• pp.75-85
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• 2015

This study investigates the impact of livestock diseases, including FMD(foot-and-mouth disease) and MCD(mad-cow disease), on pork demand in Korea. TV news stories about the livestock diseases were considered as negative advertising, and therefore the carry-over effect of negative advertising was combined with the pork demand model in conjunction with an exponential distributed lag function. The asymmetry hypothesis was imposed, however it was accepted that demand response does not show different sensitivities to increases and decreases in the livestock disease news. FMD news had a negative effect on pork demand, whereas MCD news had a positive effect, yet FMD news had a greater effect on pork demand than MCD news. The pork demand elasticity estimates for FMD and MCD news were -0.0071 and 0.0028, respectively. The cross-elasticity of the imported beef price to pork demand was highly inelastic, but it was elastic during the beef import embargo.

• Journal of the Korean Society for Nondestructive Testing
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• v.21 no.6
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• pp.658-662
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• 2001

The classification of surface flaw types was performed on the basis of angular dependence of backscattered ultrasound. The copper line adhered on the surface, cower line filled in groove, pure groove and the normal edge were adopted as various surface flaw patterns of glass specimen. A backward longitudinal profile was formed probably by the longitudinal wane scattering at and near 1st critical angle. The wave trains at the peak angles of the backward radiation profiles showed different shapes according to the superposition ratio of scattered and leaky waves. The asymmetry of the backward radiation profile arose due to the scattering effect of flaw. The additive resonance effect of copper line appeared in the left side of the profile. The peak angles of both the longitudinal and radiation profiles were shifted toward small angle by the scattering effect.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.2
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• pp.143-149
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• 2020

Low inflation and sustainable growth have been the major macroeconomic goals being pursued by every developing country, Vietnam inclusive. The effect of inflation on economic growth has been intensively analyzed by a variety of studies, but the empirical evidence more often than not remains controversial and ambiguous. One common hypothesis of previous studies is that they have assumed that the effect of inflation on growth is symmetric. The main purpose of this study is to investigate the asymmetric effect of inflation and money supply on economic growth using the Nonlinear Autoregressive Distributed Lag approach introduced by Shin, Byungchul, and Greenwood-nimmo (2013) for Vietnam over the period 1990-2017. Empirical results provide evidence that the effects of inflation on economic growth are negative and asymmetric in the long run. The impact of money supply on growth is positive in both the short-run and long-run. Accordingly, the impact of the increase in the inflation rate is bigger than the decreasing in the long-run. This different impact is significant and high inflation will destruct economic activities. As a result, the study provides empirical evidence for the authorities to plan monetary policies and control the rate of inflation to achieve sustainable economic development in the long-run.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.11
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• pp.45-53
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• 2020

Past literatures have not studied the impact of real-world events or information on the return and volatility of virtual currencies, particularly on the COVID-19 event, day-of-the-week effect, daily high-low price spreads and information flow rate. The study uses the ARMA-GARCH model to capture Bitcoin's return and conditional volatility, and explores the impact of information flow rate on conditional volatility in the Bitcoin market based on the Mixture Distribution Hypothesis (Clark, 1973). There were 3,064 samples collected during the period from 1^st of January 2012 to 20^th April, 2020. Empirical results show that in the Bitcoin market, a daily high-low price spread has a significant inverse relationship for daily return, and information flow rate has a significant positive relationship for condition volatility. The study supports a significant negative relationship between information asymmetry and daily return, and there is a significant positive relationship between daily trading volume and condition volatility. When Bitcoin trades on Saturday & Sunday, there is a significant reverse relationship for conditional volatility and there exists a day-of-the-week volatility effect. Under the impact of COVID-19 event, Bitcoin's condition volatility has increased significantly, indicating the risk of price changes. Finally, the Bitcoin's return has no impact on COVID-19 events and holidays (Saturday & Sunday).

• The Journal of Industrial Distribution & Business
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• v.12 no.8
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• pp.7-19
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• 2021

Purpose: This paper aims to investigate (1) whether the interviewed auditors conduct higher quality audit than the non-interviewed auditors and (2) whether the frequency of audit engagement interviews has an impact on audit quality. Research design, data, and methodology: Using a sample of Chinese A-share listed firms between 2011 and 2019, this paper empirically tests the effect of audit engagement interviews on auditor's behavior. We collect the data of audit engagement interviews on the CICPA's website. We use OLS regression, fixed-effect model and random-effect model to examine the association between audit engagement interviews and audit quality. Results: Findings indicate that the audit quality of the interviewed auditors is significantly greater than that of the non-interviewed auditors. The frequency of the audit engagement interviews is positively associated with audit quality. The interviewed auditors spend significantly more time on the audit. Furthermore, the positive association between audit engagement interviews and audit quality only exists in non-Big 4 auditors. Conclusions: Our findings provide evidence for the effectiveness of audit regulation enforcement. The results suggest that in an emerging market with weak legal systems, preventive regulations such as audit interviews have a deterrent effect and are necessary in alleviating information asymmetry and improving information environment.