• STI Policy Review
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• v.9 no.1
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• pp.55-76
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• 2018

This study analyzed the effect of the government R&D subsidy program on long-term firm survival. In order to estimate the average treatment effect for the treated group, we used the survival analysis and matching method by constituting a comprehensive dataset of more than 90,000 observations. The analysis results show that the government R&D subsidy has a negative impact on long-term firm survival. In particular, not only the subsidy does not have a statistically significant effect on firm survival in the relatively short-term, the survival probability of the subsidized firms is statistically significantly lower than the non-subsidized firms after six years. These results can be seen as weakening the justification of government R&D support. There may be problems in the subsidy policy itself and the process of selection of subsidy awardees; however, the more fundamental problem is that the subsidy policy is concluded as the one-time event. Admittedly, it would be difficult for the government to precisely manage the subsidized projects over a long term period. However, in the case of a project in which short-term performance is detected, it would be necessary to provide a step-by-step support to strengthen the firm's competitiveness through further support and continuous development of performance. Of course, mid- and long-term evaluations of subsidy support policy should be performed in parallel with such phased support.

• Asia-Pacific Journal of Business
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• v.12 no.3
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• pp.37-50
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• 2021

Purpose - This study aimed to examine the behavior surrounding the Initial Public Offering (IPO) event of firms within the same conglomerate and the impact of under-pricing and Return on Equity(ROE) on a firm's abnormal stock returns. Design/methodology - This study collected data from 166 South Korean Chaebols, consisting of 355 firms distributed as 202 listed on Korea Composite Stock Price Index (KOSPI) and 153 firms listed on Korean Securities Dealers Automated Quotations (KOSDAQ) from 2000 to 2020. The Capital Asset Pricing Model (CAPM) and the multiple regression analysis were hired to analyze the data. Findings - First, we found an adverse price reaction of IPO listing in the same chaebol group, and firms with higher under-pricing affect other firms' stock prices more adversely within the conglomerate. Next, we explored a negatively significant relation between ROE and the chaebol firms' stock returns during IPO events. Research implications - The novelty of this study is there are not many empirical studies on the impact of IPO within a conglomerate. So, the findings of this study contribute to the literature for analyzing stock's abnormal returns within a conglomerate.

• Transactions of the Korean Society of Pressure Vessels and Piping
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• v.13 no.2
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• pp.51-59
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• 2017

Steam jets ejected from a rupture zone of high energy pipes may cause damage to adjacent structures. This event could lead to more serious accidents in nuclear power plants. Therefore, to prevent serious accidents, high energy pipes of nuclear power plants are designed according to the ANSI / ANS 58.2 technical standard. However, the US Nuclear Regulatory Commission (USNRC) has recently pointed out non-conservatism in existing high energy pipe fracture evaluation methods, and required the assessment of the unsteady load of the jet caused by a potential feedback mechanism as well as the impact range of steam jet, the jet impact loads and the blast wave effects at the initial breakage stage. The potential feedback mechanism refers to a phenomenon in which a vortex formed by impingement jets amplifies vortex itself and induces jet vibration in a shear layer. In this study, CFD methodology using the LES turbulence model is established and numerical analysis is carried out to evaluate the dynamic behavior of impingement jets and the potential feedback mechanism during jet impingement. Obtained results have been compared with an empirical correlation and experiment.

• Korean System Dynamics Review
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• v.10 no.4
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• pp.53-72
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• 2009

More than 24.43 million people received a special pardon to mark the anniversary of Liberation Day on Aug. 15 and to commemorate other national event, during 15years(1995-2009), in this period six times of presidential pardon was implemented. The special pardon allows traffic law violator to drive again with their violation records wiped clean. But traffic records show that traffic accidents used to increase very fast in a short period by up to 3-15 percent after implementing the every massive pardons. This study explores the causal feedback relationship between presidential special pardon for traffic law violators and the occurrence of an traffic accidents using a system thinking approach and simulation modelling. Particularly, this study focused on the analysing significant negative impact of the traffic pardon on the occurrence of worrisome traffic accidents. The results of this study show that presidential special pardon have had impact on the traffic accidents as a increasing leverage of positive feedback loop and the obedience of traffic law as a decreasing leverage of negative feedback loop. Finally, this study conclude that the cyclical increasing pattern of traffic accident is resulting from the periodically conducted presidential pardons with political aims.

• East Asian Journal of Business Economics (EAJBE)
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• v.1 no.3
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• pp.42-50
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• 2013

Brand Equity plays a major role in the highly competitive Quick Service Restaurants (QSR) industry in India. There are a variety of factors which affect the brand equity that a company commands in the market. Integrated Marketing Communication (IMC) is an emerging concept in marketing wherein all the major promotional activities are used to create a synergic output and send across a clear and consistent message to the customers. This study aims to find out the impact of five major tools of IMC namely Advertising, Word of Mouth, Sales Promotion, Event Sponsorships and Public Relations which are most applicable in the QSR industry on the four major dimensions namely Brand Awareness, Brand Association, Perceived Quality and Brand Loyalty which aid in creating Brand Equity. The study was conducted by collecting data from a sample and analyzing the data using statistical tools to find any relationships between the above mentioned variables. The findings suggest that marketers should focus on building favorable opinion about the brand amongst customers and take care regarding the news published about the brand since it affects brand image. Moreover, it was also found out that making people aware about the brand and the perceived quality about the brand play the major role in creating brand equity more than other factors.

• Nuclear Engineering and Technology
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• v.30 no.6
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• pp.531-540
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• 1998

The DYLAM-3 code which overcomes the limitation of event tree/fault tree was applied to LOOP (Loss of Off-site Power) in the mid-loop operation employing HEPs (Human Error Probabilities) supplied by the ASEP (Accident Sequence Evaluation Program) and the SEPLOT (Systematic Evaluation Procedure for Low power/shutdown Operation Task) procedure in this study. Thus the time history of core uncovery frequency during the mid-loop operation was obtained. The sensitivity calculations in the operator's actions to prevent core uncovery under LOOP in the mid-loop operation were carried out. The analysis using the time dependent HEP was performed on the primary feed & bleed which has the most significant effect on core uncovery frequency. As the result, the increment of frequency is shown after 200 minutes duration of simulation conditions. This signifies the possibility of increment in risk after 200 minutes. The primary feed & bleed showed the greatest impact on core uncovery frequency and the recovery of the SCS (Shutdown Cooling System) showed the least impact. Therefore the efforts should be taken on the primary feed & bleed to reduce the core uncovery frequency in the mid-loop operation. And the capability of DYLAM-3 in applying to the time dependent concerns could be demonstrated.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.14 no.2
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• pp.245-255
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• 1994

A two-dimensional Lagrangian finite-difference computer program is developed for the wave propagation analysis of impact phenomena. The numerical scheme is the standard method originally proposed by Von Neuman and Richtmyer, using artificial viscosity to smooth shock fronts. The material model used in the study is the standard hydrodynamic-elastic-plastic relations with Von-Mises yield criterion. A test configuration consisted of a target and a projectile were calculated to understand the response of a colliding event. However, the computer code is in plane strain, the calculations were intended for generating the qualitative features of the model behaviors. Nevertheless, the computational results were consistent with the experimental observations and provided a rational basis to interpret the modes of failures.

• The Korean Journal of Quaternary Research
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• v.17 no.2
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• pp.1-7
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• 2003

Environmental changes caused by the abrupt climatic change are one of the important issues in the scientific community. In the East Sea, abrupt climatic shift, called Younger Dryas, is identified. The age of the Younger Dryas cold episode occurred at 11.2 ka. Overall, changes in circulation and bottom water conditions occurred during the Younger Dryas cold episode in the study area. Especially, climatic transition from meltwater spike to the Younger Dryas cold episode is characterized by significant shifts of oxygen isotope values, the coiling ratios of Neogloboquadrina pachyderma, and the planktonic foraminifers abundances. The impact of abrupt climate change on the ecosystem is very significant. In the East Sea, the calcium carbonate secreting organism(foraminifers) is replaced by silicon dioxide secreting organisms(diatom, radiolarian) after the abrupt and severe cold climatic event. Based on the Doctrine of Uniformitarianism, at least climate change for the next 100 years would be severely influence on the marine ecosystem.

• Journal of Auto-vehicle Safety Association
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• v.3 no.2
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• pp.5-10
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• 2011

Under the full frontal crash event, seatbelt system is the most typical and primary restraint device that prevents the second impact between an occupant and vehicle interior parts by limiting the forward motion of an occupant in the vehicle occupant packaging space. Today's restraint systems typically include the three-point seat belt with the pretensioner and the load limiter. A pretensioner preemptively tightens the seat belts removing any slack between a passenger and belt webbing which leads to early restraint of a passenger. After that a load limiter controls level of belt load by releasing the belt webbing to reduce occupant injurys. In this study, load characteristics of load limiters are optimized by the computer simulation with a MADYMO model for a frontal impact against the rigid wall at 56kph and then we suggest performance requirements. We derived optimum load characteristic from the results using four vehicle simulation models represented by the vehicle. Based on the results, we suggest the performance from the results of the second optimization using the simulation considering the design and the standardization. Finally, the performance requirements is verified by the sled tests including the load limiter device for the full vehicle condition.

• Korean System Dynamics Review
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• v.16 no.1
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• pp.53-74
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• 2015

The purpose of this paper is to simulate public trust on nuclear regulation policy. The first of all, public trust variables and the model were developed and analysed by system dynamic method. The model are consisted of the operator safety culture level, regulatory competence levels, the public satisfaction and public trust level. The scenario is made up three type which base scenario, the system operator's safety culture level and accident event level. First. the simulation results of standard scenario shows that rapidly declining public satisfaction and trust level of the national safety after Japan's nuclear accident in November 2011. Second, operator safety culture level and simulated divided into three levels. The results showed that a greater impact on the public satisfaction if bad than good case. Finally, the size of the accident was simulated divided into three levels levels(no accident, medium, serious accidents). the results showed a weak effect against the regulatory capacity and safety performance levels but showed a significant impact on public satisfaction and confidence level.