• Title/Summary/Keyword: Bank Size

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A Study on Determinants of the Number of Banking Relationships in Korea: Firm-specific Determinants and Effects of Business Cycle (우리나라 기업의 거래은행 수 결정요인에 관한 연구: 경기변동의 영향을 포함하여)

  • Hwang, Soo-Young;Lee, Jung-Jin
    • Management & Information Systems Review
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    • v.36 no.4
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    • pp.53-80
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    • 2017
  • The purpose of this study is to examine the determinants of the number of bank relationships in Korea. Firm-specific determinants considered here include leverage, size, age, return on asset, investment grade, tangibility, liquidity, R&D expenditure. We estimate the effects of these variables, and compare the results with those from previous studies performed for other economies. Concerning the effects of business cycle, we find that the business cycle is an important factor in determining the number of bank relationships. The number of bank relationships varies over the business cycle, and we notice a counter-cyclical behavior, which means the number decreases during economic expansions and increases during contractions. This result can be interpreted as a result of firms' diversification of borrowings into multiple banks in order to reduce the liquidity risk during the recession. In the subsets, however, the number of bank relationships for large firms is stable regardless of the business cycle. Unlisted firms, non-chaebol, and low credit quality firms which have relatively limited access to alternative sources of financing show counter-cyclical behavior. Finally, such phenomena is not observed in the non-competitive credit market, while they show a counter-cyclical behavior in the competitive credit market.

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Characteristics of Ice Jam and flow in channel Bends (만곡수로에서의 Ice Jam과 흐름특성)

  • 윤세의
    • Water for future
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    • v.21 no.4
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    • pp.399-406
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    • 1988
  • Presented in this paper is a brief summary of the basic theory and observation from a laboratory investigation aimed at determining flow characteristics and ice jam topography in a sinuous channel, and in a single-bend channel. The sinuous channel comprised thirteen $90^{\circ}$ bends and was of comparatively small s\aspect ratio. The single-bend channel was a $180^{\circ}$ bend, which was an order of magnitude large in width as well as aspect ratios than the sinuous channel. The simulated ices were polyethylene and polypropylene beads and block. The streamwise velocities near the bottom were larger than that of surface in sinuous channel and forming ice jam in sinuous channel, this phenoumena were found strongly. Jams were generally thicker along the inner bank of bends. The path of maximum-streamwise velocity was displaced towards approachs side of the inner bank of bends. Radial variation of jam thickness was to be regular by increasing size of ice fragments. The rate of jam head progression around outer bank of the single bend was faster than that of inner bank and its velocity was roughly steady. With increasing Froude number, jm thickness became less uniformly distributed; being generally thicker along the inner bank and near the jam's toe. Two-layer model might be adaptable for the computing the streamwise velocity in shallow river bends. Two cells of secondary flow cound be expected in ice covered-river bends.

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Rule of Law, Economic Growth and Shadow Economy in Transition Countries

  • LUONG, Thi Thuy Huong;NGUYEN, Tho Minh;NGUYEN, Thi Anh Nhu
    • The Journal of Asian Finance, Economics and Business
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    • v.7 no.4
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    • pp.145-154
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    • 2020
  • The paper aims to investigate the interactions between rule of law, economic growth and the shadow economy in 18 selected transition economies. This study uses annual data over the period 2002-2015 for 18 transition countries to estimate the effects of rule of law and other factors on the size of shadow economy. The transition country group is classified based on International Monetary Fund resources and is selected on the basis of the availability of data. The data examined in this research are derived from the World Bank, Worldwide Governance Indicators project and Working Paper from International Monetary Fund. This study employs GMM method. The results show that the economic growth indicators have negative and statistically significant impact on the shadow economy. Additionally, these results also reveal that in transition countries the size of shadow economy is negatively related to the quality of rule of law. However, the findings of this research also point out that there are positive relationships between inflation, public expenditure and the size of shadow economy. Hence the results from this study suggest that the size of shadow economy could be controlled by improving the effectiveness of rule of law and the growth of economy particularly in transition countries.

A Study on Riprap Size in Meandering Channels by Hydraulic Model Test (수리모형 실험에 의한 사행하도의 사석 크기에 관한 연구)

  • 문수남
    • Water for future
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    • v.28 no.4
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    • pp.205-213
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    • 1995
  • Flow in meandering channel is a great concern to civil engineers and may further be characterized as one of the key problems in river morphology. It is difficult to state generalized criteria for channel improvement applicable to any particular river. But it is important to provide some principles and quidelines for the design engineer. The objective of this experimental study is to suggest riprap size, principles and quidelines for the design engineer by the hydraulic model test. For the sake of effective uses for the bank stabilization, hydraulic model tests about riprap weight and size are performed and examing thoroughly. Riprap weight for the upstream of the curvature appex can be computed by U.S.B.R. and Brahms' equation, and the size by Mavis and Laushey's equation. Those for the downstream can be computed using Brahms' and Steinberg's equations, respectively.

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Construction of a Data Bank for Acoustic Target Strength with Fish Species, Length and Acoustic Frequency for Measuring Fish Size Distribution (어류 체장의 자동 식별을 위한 어종별, 체장별 및 주파수별 음향 반사 강도의 데이터 뱅크 구축)

  • LEE Dae-Jae;SHIN Hyeong-Il
    • Korean Journal of Fisheries and Aquatic Sciences
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    • v.38 no.4
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    • pp.265-275
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    • 2005
  • A prerequisite for deriving the abundance estimates from acoustic surveys for commercially important fish species is the identification of target strength measurements for selected fish species. In relation to these needs, the goal of this study was to construct a data bank for converting the acoustic measurements of target strength to biological estimates of fish length and to simultaneously obtain the target strength-fish length relationship. Laboratory measurements of target strength on 15 commercially important fish species were carried out at five frequencies of 50, 70, 75, 120 and 200 kHz by single and split beam methods under the controlled conditions of the fresh and the sea water tanks with the 389 samples of dead and live fishes. The target strength pattern on individual fish of each species was measured as a function of tilt angle, ranging from $-45^{\circ}$ (head down aspect) to $+45^{\circ}$ (head up aspect) in $0.2^{\circ}$ intervals, and the averaged target strength was estimated by assuming the tilt angle distribution as N $(-5.0^{\circ},\;15.0^{\circ})$. The TS to fish length relationship for each species was independently derived by a least-squares fitting procedure. Also, a linear regression analysis for all species was performed to reduce the data to a set of empirical equations showing the variation of target strength to a fish length, wavelength and fish species. For four of the frequencies (50, 75, 120 and 200 kHz), an empirical model for fish target strength (TS, dB) averaged over the dorsal sapect of 602 fishes of 10 species and which spans the fish length (L, m) to wavelength (\Lambda,\;m)$ ratio between 5 and 73 was derived: $TS=19.44\;Log(L)+0.56\;Log(\Lambda)-30.9,\;(r^2=0.53)$.

A Study on the Methods for the Prevention of Fraud in Korean Export Insurance in the Context of Export Credit Guarantee Schemes under O/A Negotiation (수출보험사기 방지를 위한 우리나라 수출신용보증제도 개선방안: O/A 매입방식을 중심으로)

  • PARK, Seung-Lak
    • THE INTERNATIONAL COMMERCE & LAW REVIEW
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    • v.77
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    • pp.113-144
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    • 2018
  • This study explores how to prevent the fraudulent export financing and its subsequent export insurance fraud in relation to O/A negotiation. Under the traditional letter of credit(L/C) transactions, the banks, as a negotiation bank, can extend trade financing to the exporters through negotiation of draft and/or shipping documents. Under the O/A transaction scheme, however, bank cannot ascertain existence of trade performance and it is much riskier to extend an advance financing to the exporters before the buyer sends confirmation of debt. In O/A negotiation. some exporters tried to fraud banks by falsifying the shipping documents and the size and gravity of this fraudulent export financing were huge. Therefore, this study examines the banking process in O/A-based trade financing, documents examination process, the negotiation of instruments, treatment of trade financing in export credit guarantee, most importantly, explores what could be the criteria for appropriate treatment of account receivable to insure the safe transfer of account receivable. To maximize the benefit for optimum trade financing, the Bank of Korea established several Trade Finance Rules (refers to "BOK Rules") requiring that commercial banks should maintain optimal credit limits(so called, 'the principle of optimal loan') to extend the trade finance. The K-sure post-shipment credit guarantee programs and short-term export insurance program(EFF)can also facilitate 'the principle of optimal loan' principle.

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Dynamic Characteristics of Multiple Bars in the Channels with Erodible Banks (하안침식을 고려한 복렬사주의 동적 거동 특성 분석)

  • Jang, Chang-Lae
    • Journal of Korea Water Resources Association
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    • v.46 no.1
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    • pp.25-34
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    • 2013
  • In this study, the development processes of multiple bars in the channels with erodible banks were investigated by double Fourier analysis. The initially straight channels in the experiment flume were widened with eroding the side banks, and the multiple bars were generated and grew due to stalling of the sediment on the bed. The bars migrated downstream and the size of the bars increased with time. The flow was separated around the bars, and the bed and banks near the bars were scoured due to the impinged secondary flow. The morphologic changes were accelerated by the bank erosion, which affected the fluctuations of sediment discharge downstream. The double Fourier analysis of the bed waves showed that 1-1 mode (alternate bar) was dominant at the initial stage of the channel development. As time increased, 2-3 mode (central or multiple bars) was dominant due to the increased width to depth ratio. Moreover, the number of bars in a cross section of the channel were increased due to the non linearity of alternate bars. The width to depth ratio was increased by the bank erosion, which affected the bar migration and the bar wavelength. However, the dimensionless tractive force was decreased by it.

A radio-tracking study of home-range of the Korean raccoon dog(Nyctereutes procyonoides koreensis) (원격무선추적을 통한 한국너구리(Nyctereutes procyonoides koreensis)의 행동권 연구)

  • Kim, Baek-Jun;Choi, Tae-Young;Park, Chong-Hwa;Kim, Young-Jun;Lee, Hang
    • Proceedings of the Korean Society of Environment and Ecology Conference
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    • 2007.04a
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    • pp.136-142
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    • 2007
  • The main aim of this study is to estimate home-range of the Korean raccoon dog(Nyctereutes procyonoides koreensis) at a rural area of Gurye in the southern part of South Korea. A radio-tracking was regularly carried out on 4 raccoon dogs for 2 days every 2 months in 2006. During the days, the radio-tracking was usually conducted every 1-3 hours through day-time to night-time. Among the 4 raccoon dogs, 2 individuals(a permanent breeding pair) could be extensively tracked for 5 to 7 months, including all 4 seasons. The result showed that total home-range sizes of the pair were 0.732 $km^2$ and 0.373 $km^2$ for 100% minimum convex polygons(MCP) and 100% kernel(K), respectively, during the monitoring period. Mean home-range sizes of the 2 raccoon dogs were 0.035-0,688 $km^2$ and 0.012-0.341 $km^2$ for MCP and K, respectively. Yearly home-range sizes of the male and female were similar to each other. However, home-range sizes of the raccoon dogs between day-time and night-time were quite different. Furthermore, the raccoon dogs showed a much broader home-range size in spring, summer and fall than in winter season. Finally, the pair had a broad overlapping home-range(about 70-95%), and 1 core area and 4 different feeding areas.

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Determinants of a Firm's Exit from Exporting: Evidence from Korean Manufacturing Firms (우리나라 제조업 기업의 수출중단 결정요인 분석)

  • Nam, Yunmi;Choi, Moon Jung
    • Economic Analysis
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    • v.26 no.4
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    • pp.98-136
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    • 2020
  • We empirically investigate the determinants of a firm's exit from exporting, using Korean manufacturing firm-level data for the period from 2006 to 2014. Specifically, we estimate the effects of not only firm-level and industry-level characteristics, but also macroeconomic variables on the probability that a firm stops exporting by applying a Complementary Log-Log Model analysis. The results of our estimation suggest that firm-level heterogeneity, such as workforce size, capital intensity, intangible assets and foreign ownership, industry-level variation, such as the labor displacement rate, and macroeconomic variables, such as domestic demand and world demand, significantly affect the possibility of a firm ceasing exports. Also, we show that market interest rates increase the possibility of an export cessation and that the effects of market interest rates are more pronounced on firms with a higher debt ratio. In the primary exporting industries, the probability of a firm ceasing exports decreases as productivity at the firm rises.

A Design on the Wavelet Transform Digital Filter for an Image Processing (영상처리를 위한 웨이브렛 변환 디지털 필터의 설계)

  • Kim, Yun-Hong;Jeon, Gyeong-Il;Bang, Gi-Cheon;Lee, U-Sun;Park, In-Jeong;Lee, Gang-Hyeon
    • Journal of the Institute of Electronics Engineers of Korea CI
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    • v.37 no.3
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    • pp.45-55
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    • 2000
  • In this paper, we proposed the hardware architecture of wavelet transform digital filter for an image processing. Filter bank pyramid algorithm is used for wavelet transform and each fillet is implemented by the FIR filter. For DWT computation, because the memory controller is implemented by hardware, we can efficiently process the multisolution decomposition of the image data only input the parameter. As a result of the image Processing in this paper, 33㏈ PSNR has been obtained on 512$\times$512 B/W image due to 11-bit mantissa processing in FPGA Implementation. And because of using QMF( Quadrature Mirror Filter) properties, it reduces half number of the multiplier needed DWT(Discrete Wavelet Transform) computation so the hardware size is reduced largely. The proposed scheme can increase the efficiency of an image Processing as well as hardware size reduced. The hardware design proposed of DWT fillet bank is synthesized by VHDL coding and then the test board is manufactured, the operating Program and the application Program are implemented using MFC++ and C++ language each other.

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