• 제목/요약/키워드: IS605

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A New Measure of Asset Pricing: Friction-Adjusted Three-Factor Model

  • NURHAYATI, Immas;ENDRI, Endri
    • The Journal of Asian Finance, Economics and Business
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    • 제7권12호
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    • pp.605-613
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    • 2020
  • In unfrictionless markets, one measure of asset pricing is its height of friction. This study develops a three-factor model by loosening the assumptions about stocks without friction, without risk, and perfectly liquid. Friction is used as an indicator of transaction costs to be included in the model as a variable that will reduce individual profits. This approach is used to estimate return, beta and other variable for firms listed on the Indonesian Stock Exchange (IDX). To test the efficacy of friction-adjusted three-factor model, we use intraday data from July 2016 to October 2018. The sample includes all listed firms; intraday data chosen purposively from regular market are sorted by capitalization, which represents each tick size from the biggest to smallest. We run 3,065,835 intraday data of asking price, bid price, and trading price to get proportional quoted half-spread and proportional effective half-spread. We find evidence of adjusted friction on the three-factor model. High/low trading friction will cause a significant/insignificant return difference before and after adjustment. The difference in average beta that reflects market risk is able to explain the existence of trading friction, while the difference between SMB and HML in all observation periods cannot explain returns and the existence of trading friction.

위계집단에서 효율적인 암호계의 안전성에 관한 소고 (A Study on Securities of Cryptosystems for Hierarchic Groups)

  • 김용태
    • 한국전자통신학회논문지
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    • 제8권4호
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    • pp.605-610
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    • 2013
  • 1982년에 Akl 등이 준순서 집합으로 구성된 위계집단에서의 암호계를 제안하였는데, 키 생성 알고리즘이 사용자가 많아질 경우에는 안전하지 않기 때문에, 이 문제점을 극복하기 위해서 1985년에 MacKinnon 등이 협동 공격을 피하면서 그 암호계를 최적화할 수 있는 암호계를 제안하였다. 2005년에는 Kim 등이 복소 이차 비최대 order의 Clifford 반군에 기반한 일방향 hash function을 이용한 키 분배 암호계를 제안하였다. 분 논문에서는 Kim 등이 제안한 암호계를 분석하여 그 취약점을 개선한 효율적인 암호계를 제안하려고 한다.

고속회전용 터보냉동기의 회전체 동역학 해석 (Rotor Dynamic Analysis of the High Speed Centrifugal Chiller)

  • 이준근;박용석
    • 한국산학기술학회논문지
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    • 제4권3호
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    • pp.193-198
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    • 2003
  • 증속기어장치를 이용한 고속회전 터보냉동기 시스템에 대한 회전체 동역학 설계 및 해석을 수행하였다. 특히 피동축의 회전수가 17,605 rpm가지 상승하여 회전체 안정성에 문제가 될 것으로 예측하여 특수베어링의 일종인 Offset베어링을 적용하였고, 구동축의 베어링은 단순베어링인 진원형 베어링을 적용하였다. 모드해석결과 회전체 시스템의 고유진동수가 어떠한 가진성분과 교차하지 않는 것이 확인 되었고, 전 운전영역에 걸쳐 감쇠값이 양의 값을 갖는 것을 알 수 있었으며 설계된 회전체 시스템이 정격운전 상태에서 충분한 안정성을 갖고 작동할 수 있음을 확인하였다.

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사용자의 동작인식 및 모사를 구현하는 로봇시스템 설계 (Robot System Design Capable of Motion Recognition and Tracking the Operator's Motion)

  • 최용욱;윤상현;김준식;안영석;김동환
    • 한국생산제조학회지
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    • 제24권6호
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    • pp.605-612
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    • 2015
  • Three dimensional (3D) position determination and motion recognition using a 3D depth sensor camera are applied to a developed penguin-shaped robot, and its validity and closeness are investigated. The robot is equipped with an Asus Xtion Pro Live as a 3D depth camera, and a sound module. Using the skeleton information from the motion recognition data extracted from the camera, the robot is controlled so as to follow the typical three mode-reactions formed by the operator's gestures. In this study, the extraction of skeleton joint information using the 3D depth camera is introduced, and the tracking performance of the operator's motions is explained.

국내 고속 철도 콘크리트 슬라브 궤도의 진동 및 방사 소음 해석 (Characteristics of Vibration and Sound Radiated from Rails of Concrete Slab Tracks for Domestic High Speed Trains)

  • 유정수;장승호
    • 한국소음진동공학회논문집
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    • 제23권7호
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    • pp.605-616
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    • 2013
  • An important source of noise from railways is rolling noise caused by wheel and rail vibrations induced by acoustic roughness at the wheel-rail contact. In the present paper, characteristics of rail vibration and radiated sound power from concrete slab tracks for domestic high speed train(KTX) is investigated by means of a numerical method. The waveguide finite element and boundary element are combined and applied for this analysis. The concrete slab track is modelled simply with a rail and rail pad regarding the concrete slab as a rigid ground. The wave types which contribute significantly to the rail vibration and radiated noise are identified in terms of the mobility and decay rates. In addition, the effect of the rail pad stiffness on the radiated power is examined for two different rail pad stiffnesses.

Mechanical behavior of composite gel periodic structures with the pattern transformation

  • Hu, Jianying;He, Yuhao;Lei, Jincheng;Liu, Zishun;Swaddiwudhipong, Somsak
    • Structural Engineering and Mechanics
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    • 제50권5호
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    • pp.605-616
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    • 2014
  • When the periodic cellular structure is loaded or swelling beyond the critical value, the structure may undergo a pattern transformation owing to the local elastic instabilities, thus leading to structural collapse and the structure changing to a new configuration. Based on this deformation-triggered pattern, we have proposed the novel composite gel materials. This designed material is a type of architectural material possessing special mechanical properties. In this study, the mechanical behavior of the composite gel periodic structure with various gel inclusions is studied further through numerical simulations. When pattern transformation occurs, it results in a different elastic relationship compared with the material at untransformed state. Based on the obtained nominal stress versus nominal strain behavior, the Poisson's ratio and corresponding deformed structure patterns, we investigate the performance of designed composite materials and the effects of the uniformly distributed gel inclusions on composite materials. A better understanding of the characteristics of these composite gel materials is a key to develop its potential applications on new soft machines.

CNC 자동선반을 이용한 SUS440C 안지름 가공에 대한 표준 거칠기에 관한 연구 (A Study on the Standard Roughness for SUS440C Internal Diameter Machining Using a CNC Automatic Lathe)

  • 최철웅;최원식
    • 한국산업융합학회 논문집
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    • 제26권4_2호
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    • pp.605-613
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    • 2023
  • The multi-axis combined machining technology has enabled combined machining, which was difficult. However, the reality is that manufacturing costs are rising due to expensive equipment and there is a shortage of machine operation engineers. The purpose of this research is to present the optimum cutting conditions for the surface roughness when processing the inner diameter of SUS440C, which is an egg material, using a CNC automatic lathe. As a result of measuring the surface roughness, dry machining was the best at Ra0.481㎛ at a spindle speed of 4,000rpm, a feed rate of 0.05rev/min, and a cutting depth of 0.3mm. In wet machining, the highest value was Ra0.317 at a spindle speed of 2,000 rpm, a feed rate of 0.05 rev/min, and a cutting depth of 0.2 mm. The lower the feed rate, the better surface roughness appears. It was found that the feed rate had more influence than the number of revolutions and depth of cut.

미기상 수치모의를 위한 다층식생모델의 식생 팍라메타가 바람에 미치는 영향 (The effect of vegetation parameter characteristics of the multi-layer vegetation model on wind for numerical simulation of micro-meteorology)

  • 오은주;이화운;정용현
    • 한국환경과학회지
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    • 제12권6호
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    • pp.605-613
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    • 2003
  • In order to make use of the protection effect against wind by the vegetation, it examined whether it should make what vegetation form and arrangement using the 2-dimensional non-hydrostatic model. When the foliage shielding factor increases, it becomes hard to take in protection effect against wind in a residential section. When it makes height of vegetation high, it becomes hard to take in protection effect against wind with height. In the comparison in the case where vegetation high is gradually made low toward wind-stream from a vegetation, and the case of making it low gradually, although former tends to receive the protection effect against wind by the vegetation, attenuation of wind velicity becomes large. In the comparison in the case where foliage shielding factor and distribution of density of leaf are gathered gradually toward wind-stream from a vegetation. It has been understood to evaluate to height the influence that the vegetation multi-layer model by which the heat revenue and expenditure in the direction of the vegetation height is considered is used, and to characterize the vegetation group by the parameter setting.

준모수혼합모형을 이용한 축소소지역추정 (Shrinkage Small Area Estimation Using a Semiparametric Mixed Model)

  • 정석오;추만호;신기일
    • 응용통계연구
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    • 제27권4호
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    • pp.605-617
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    • 2014
  • 소지역추정은 작은 규모의 지역 또는 도메인에 작은 크기의 표본이 배정되어 추정의 정도가 좋지 않은 경우에 이를 극복하는 통계적 기법이다. 소지역추정에 흔히 사용되고 있는 모형기반 추정량은 MSE를 기초로 얻어지나 최근 상대오차를 이용한 소지역추정법도 연구되고 있다. 본 논문에서는 상대오차를 최소로 하는 소지역 추정량의 준모수적 접근법에 관하여 연구하였다. 즉 준모수혼합모형을 이용한 축소소지역추정량을 새롭게 제안하였다. 또한 Lee(1995)에서 제안된 모의실험 자료를 이용한 모의실험과 매월노동통계 자료를 이용한 사례연구를 통하여 기존의 추정량과 제안된 추정량의 우수성을 비교하였다.

The Effects of Pilates Mat Exercises on Elderly Women's Basic Physical Strength and Lumbar Muscle Strength

  • Yoo, Yong Kwon;Song, Min Sun;Goo, Kyung Mi;Lee, Byung Hoon
    • 국제물리치료학회지
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    • 제4권2호
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    • pp.605-610
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    • 2013
  • The purpose of this study is to examine the changes on lumbar muscle strength in relation to 12-week pilates mat exercise of elderly women. The participants are chosen for 17 people who is an experimental group and 14 people who is an comparison group who except wastage and pilates mat exercise program was gradually intensify applied three times a week, during 12 weeks. The peak torque of flexion was increased(p<.01) and the difference of ratio of agonist to antagonist was decreased(p<.001). The total work of flexion and extension had significant increased(p<.001) at $120^{\circ}/sec$. As a result of all these, it was judged as positive effect for body composition, basal physical fitness and lumbar muscle strength after pilates mat exercise in 12 weeks. These positive effects showed that pilates mat exercise could got conclusions that mitigated the musculoskelctal disorders, slow down the progress of disorders, helped as a functions of physical.