• Ocean Systems Engineering
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• 제8권3호
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• pp.329-343
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• 2018

The inclination of seabed profile (sloped seabed) is one of the known topographic features which can be observed at different seabed level in the large offshore basin. A mooring system connected between the platform and global seabed is an integral part of the floating structure which tries to keep the floating platform settled in its own position against hostile sea environment. This paper deals with an investigation of the motion responses of an FPSO platform moored on the sloped seabed under the combined action of wave, wind and current loads. A three-dimensional panel discretization method has been used to model the floating body. To introduce the connection of multi-segmented non-linear elastic catenary mooring cables with the sloped seabed, a quasi-static composite catenary model is employed. The model and analysis have been completed by using hydrodynamic diffraction code AQWA. Validation of the numerical model has been successfully carried out with an experimental work published in the latest literature. The analysis procedure in this study has been followed time domain analysis. The study involves an objective oriented investigation on platform motions, in order to identify the effects of the slopped seabed, the action of the wave, wind and current loads and the presence of riser system. In the end, an effective analysis has been performed to identify a stable mooring model in demand of reducing structural responses of the FPSO.

• 한국경제지리학회지
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• 제26권3호
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• pp.310-323
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• 2023

도시화 현상과 소득분배 문제는 세계적 관심사이며, 소득불평등에 도시화가 미치는 영향에 대한 연구들의 결과는 분석 국가와 기간마다 상이하게 나타났다. 본 연구는 2000-2021년 기간의 지역 데이터를 사용하여 우리나라 소득불평등에 도시화가 미치는 영향을 분석하였다. 특히 지니계수에 시차 자기상관과 공간의존성 및 공통요인 효과가 존재함을 확인하고, 이를 고려한 동적공간패널회귀모형을 통해 분석하였다. 추정 결과, 지역의 도시화는 소득불평등 감소에 긍정적인 영향을 미치는 것으로 나타났다. 따라서 소득분배 문제의 개선을 위해 지역별 도시화를 지속적으로 추진할 필요가 있으며, 이미 도시화율이 높은 지역은 저숙련 노동자의 교육훈련 기회 확대로 임금격차를 줄임으로써 소득불평등을 감소시켜야 하며, 도시화 종착 단계에서 발생할 수 있는 역도시화 현상을 방지하기 위한 방안을 마련해야 한다.

• 한국태양에너지학회 논문집
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• 제37권6호
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• pp.69-77
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• 2017

The amount of solar irradiation obtained by a photovoltaic (PV) solar panel is the major factor determining the power generated by a PV system, and the array tilt angle is critical for maximizing panel radiation acquisition. There are three types of PV systems based on the manner of setting the array tilt angle: fixed, semi-fixed, and tracking systems. A fixed system cannot respond to seasonal solar altitude angle changes, and therefore cannot absorb the maximum available solar radiation. The tracking system continually adjusts the tilt angle to absorb the maximum available radiation, but requires additional cost for equipment, installation, operation, and maintenance. The semi-fixed system is only adjusted periodically (usually seasonally) to obtain more energy than a fixed system at an overall cost that is less than a tracking system. To maximize semi-fixed system efficiency, determining the optimal tilt angle adjustment schedule are required. In this research, we conducted a simulation to derive an optimal operation schedule for a semi-fixed system in Seoul, Korea (latitude $37.5^{\circ}$). We implemented a solar radiation acquisition model and PV genereation model on MATLAB. The optimal operation schedule was derived by changing the number of tilt angle adjustments throughout a year using a Dynamic Algorithm. The results show that adjusting the tilt angle 4 times a year was the most appropriate. and then, generation amount of PV system increased 2.80% compared with the fixed system. This corresponds to 99% compared to daily adjustment model. This increase would be quite valid as the PV system installation area increased.

• The Journal of Asian Finance, Economics and Business
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• 제8권3호
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• pp.717-729
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• 2021

This paper examines the efficacy of the default risk factor in an emerging market context using the Fama-French five-factor model. Our aim is to test whether the Fama-French five-factor model augmented with a default risk factor improves the predictability of returns of portfolios sorted on the firm's characteristics as well as on industry. The default risk factor is constructed by estimating the probability of default using a hybrid version of dynamic panel probit and artificial neural network (ANN) to proxy default risk. This study also provides evidence on the temporal stability of risk premiums obtained using the Fama-MacBeth approach. Using a sample of 3,806 firm-year observations on non-financial listed companies of Pakistan over 2006-2015 we found that the augmented model performed better when tested across size-investment-default sorted portfolios. The investment factor contains some default-related information, but default risk is independently priced and bears a significantly positive risk premium. The risk premiums are also found temporally stable over the full sample and more recent sample period 2010-2015 as evidence by the Fama-MacBeth regressions. The finding suggests that the default risk factor is not a useless factor and due to mispricing, default risk anomaly prevails in the Pakistani equity market.

• International Journal of Naval Architecture and Ocean Engineering
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• 제3권1호
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• pp.27-36
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• 2011

In the proposed paper numerical calculations are carried out using two versions of a three-dimensional, timedomain panel method developed by the group of Prof. P. Sclavounos at MIT, i.e. the linear code SWAN2, enabling optionally the use of the instantaneous non-linear Froude-Krylov and hydrostatic forces and the fully non-linear SWAN4. The analytical results are compared with experimental results for three hull forms with increasing geometrical complexity, the Series 60, a reefer vessel with stern bulb and a modern fast ROPAX hull form with hollow bottom in the stern region. The details of the geometrical modeling of the hull forms are discussed. In addition, since SWAN4 does not support transom sterns, only the two versions of SWAN2 were evaluated over experimental results for the parent hull form of the NTUA double-chine, wide-transom, high-speed monohull series. The effect of speed on the numerical predictions was investigated. It is concluded that both versions of SWAN2 the linear and the one with the non-linear Froude-Krylov and hydrostatic forces provide a more robust tool for prediction of the dynamic response of the vessels than the non-linear SWAN4 code. In general, their results are close to what was expected on the basis of experience. Furthermore, the use of the option of non-linear Froude-Krylov and hydrostatic forces is beneficial for the accuracy of the predictions. The content of the paper is based on the Diploma thesis of the second author, supervised by the first one and further refined by the third one.

• 한국지진공학회논문집
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• 제25권6호
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• pp.293-303
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• 2021

Seismic fragility functions for unreinforced masonry buildings were derived based on the incremental dynamic analysis of eight representative inelastic numerical models for application to Korea's earthquake damage estimation system. The effects of panel zones formed between piers and spandrels around openings were taken into account explicitly or implicitly regarding stiffness and inelastic deformation capacity. The site response of ground motion records measured at the rock site was used as input ground motion. Limit states were proposed based on the fraction of structural components that do not meet the required performance from the nonlinear static analysis of each model. In addition to the randomness of ground motion considered in the incremental dynamic analysis explicitly, supplementary standard deviation due to uncertainty that was not reflected in the fragility assessment procedure was added. The proposed seismic fragility functions were verified by applying them to the damage estimation of masonry buildings located around the epicenter of the 2017 Pohang earthquake and comparing the result with actual damage statistics.

• The Journal of Asian Finance, Economics and Business
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• 제8권1호
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• pp.623-635
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• 2021

The purpose of this research is to examine the impact of information risk on the Cost of Equity (COE) and whether the risk of a stock price crash mediates the relation between information risk and COE. To test the dynamic nature of the proposed model, the two-step system GMM dynamic panel estimators are applied to all the non-financial firms listed on the Pakistan Stock Exchange (PSX) from 2007- 2018. The results of this study show that all three types of information risk, as well as the risk of the share price crash, increases the COE. The crash risk strengthens the impact of information risk on the COE. Moreover, these three information risks are correlated with each other and an increase in information quality reduces the effect of asymmetric information and improves the investor interpreting ability, while an increase in private information decreases the transparency. The finding is crucial for asset pricing, portfolio management, and information disclosure. This study contributes to the literature by providing novel findings on the impact of three different types of information risk, i.e. private information, quality of information, and transparency of information on the COE as well as whether crash risk mediates the relationship.

• The Journal of Asian Finance, Economics and Business
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• 제9권3호
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• pp.195-202
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• 2022

This study investigates whether institutional investors increase or decrease the volatility of stock returns in the Thai stock market. For the purpose we used the data from SETSMART, a database provided by the Stock Exchange of Thailand (SET). Our sample is a balanced panel data covering 3,160 firm-year observations from 316 nonfinancial firms listed on the SET from 2011 to 2020. We analyze the link between institutional holdings and the volatility of stock returns by the pooled Ordinary Least Squares (OLS) model, the fixed effects model, and the random-effects model. In particular, we regress the stock return volatility on institutional ownership while controlling for firm size, financial leverage, growth opportunities, and stock turnover and accounting for industry effects and year effects. Our results indicate institutional investors' positive and significant influence on the volatility of the stock returns. Additionally, we performed the dynamic Generalized Method of Moment (GMM) estimator to alleviate concerns of possible endogeneity. The result still shows a positive impact of institutional investors on the volatility in stock returns. Overall, the findings of this study suggest that an increase in the volatility of stock returns in the Thai stock market may stem from a higher proportion of equity held by the institutional investors.

• 대한토목학회논문집
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• 제32권6A호
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• pp.337-345
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• 2012

본 연구에서는 4대강 사업으로 건설중인 트러스형 리프트의 진동특성을 검토하기 위하여 모형실험이 수행된다. 경간 40 m, 높이 9 m의 트러스형 리프트게이트를 축척 1/25로 모형이론에 따라 아크릴과 납으로 모형을 제작하고, 폭 1.6 m, 길이 25 m, 높이 0.8 m의 수로에서 실험된다. 먼저 모형의 고유진동수가 측정되고 모형을 검증하기 위하여 유한요소 해석결과와 비교된다. 검증된 모형에서 상하류 수위와 문비 개방고에 따른 진동가속도 진폭이 측정된다. 또한 문비의 진동을 줄 일수 있는 하부형상을 검토하기 위하여 문비 최하부의 각도가 $20^{\circ}$, $35^{\circ}$, $50^{\circ}$인 모형을 제작하고 실험결과를 서로 비교한다. 실험 결과는 수문 조작 시 유지관리지침의 기본 자료를 제공하고, 수문의 진동특성과 진동을 줄일 수 있는 수문의 하부형상을 검토한다.

• Human Ecology Research
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• 제53권1호
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• pp.49-66
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• 2015

This study analyzes the effects of women's labour force participation and work-family reconciliation support on life-cycle fertility in Korea. The analysis is based on the longitudinal data from Korean Labour and Income Panel Study (KLIPS), which include the available information on life-cycle fertility and employment history. Employing a dynamic model of fertility, we estimated the life-cycle fertility of all the 15-49 years old women considered in this study by using a duration model. The major results of this study were as follows: First, women's labour force participation had a negative effect on the first birth, second birth, and all births (transition to births starting at different parities). Women's employment tended to lengthen the interval between births. Second, the availability of maternal leave had a positive effect on the first birth and all births for working women. Providing maternal leave to working women decreased the opportunity cost of childbearing and in turn, reduced the interbirth interval of women. However, the availability of parental leave had no significant effect on the births of working women. Third, the financial support for childcare had a positive effect on the first birth and all births. The economic support for childcare led to the reduction in the interbirth interval of women by increasing the probability of births. The use of a childcare center for the first child, which substitutes for the time that women needed to take care of their children, classified as time-intensive consumption goods, did not have any effect on the second birth. Fourth, the part-time employment of women had a positive effect on the second birth. A flexible working time schedule tended to decrease the interval between the first and the second births.