• 아태비즈니스연구
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• 제14권3호
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• pp.221-240
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• 2023

Purpose - This paper investigates how business cycle impacts on corporate credit spreads since global financial crisis. Furthermore, it tests how the impact changes by the phase of the cycle. Design/methodology/approach - This study collected dataset from Barclays Global Aggregate Bond Index through the Bloomberg. It conducted multi-regression analysis by projecting business cycle using Hodrick-Prescott filtering and various cyclical variables, while ran dynamic analysis of 5-variable Vector Error Correction Model to confirm the robustness of the test. Findings - First, it proves to be statistically significant that corporate credit spreads have moved countercyclicaly since the crisis. Second, It indicates that the corporate credit spread's countercyclicality to the macroeconomic changes works symmetrically by the phase of the cycle. Third, the VECM supports that business cycle's impact on the spreads maintains more sustainably than other explanatory variable does in the model. Research implications or Originality - It becomes more appealing to accurately measure the real economic impact on corporate credit spreads as the interaction between credit and business cycle deepens. The economic impact on the spreads works symmetrically by boom and bust, which implies that the market stress could impact as another negative driver during the bust. Finally, the business cycle's sustainable impact on the spreads supports the fact that the economic recovery is the key driver for the resilience of credit cycle.

• 대한조선학회지
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• 제21권1호
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• pp.13-20
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• 1984

As the first step to the dynamic stress analysis of structures, transient responses of a Timoshenko beam with variable section subject to impact load are analyzed. According to the various characteristics of impact load, time histories of the transient response of Timoshenko beam with general boundary conditions are obtained and compared with those of one degree of freedom system. Numerical solutions of the governing equations of motion are calculated by adopting the equivalent lumped-mass system and the finite difference method. It is found that the dynamic responses of Timshenko beam depend on the effect of concentration and location of impact load. As a result, increasing tendency of fluctuation in dynamic response, especially in bending moment, is found according to the increase of load concentration factor in time and space.

• 한국정밀공학회:학술대회논문집
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• 한국정밀공학회 2007년도 추계학술대회 논문집
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• pp.371-372
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• 2007

• 한국산업보건학회지
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• 제5권2호
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• pp.147-159
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• 1995

This study was conducted to introduce fundamental data of hand-arm vibration and noise exposure levels with impact wrenches(double-hammer impact wrenches and oil-pulse impact wrenches) used in automobile assembly lines considering the process variables and tool variables. In studing, products per day, required time screwing the bolts or nuts per bolts or nut were considered as process variables, and capacity of bolts or nuts, air consumptions per minute, tool weights, RPM were considered as tool variables. Hand-arm vibration levels of 3 axis in each hand were measured using the instruments compling with ISO/DIS 5349 and noise levels were measured using a noise logging dosimeter. The results were as follows : 1. Required time to screwing the bolt or nut by oil-pulse impact wrenches is shorter than double-hammer impact wrenches but total daily exposure time of oil-pulse impact wrenches was higher than double-hammer impact wrenches because the number of bolts or nuts per cycle was many. 2. Oil-pulse impact wrenches have been used to screwing the large bolt or nut in comparing with double-hammer impact wrenches and required time to screwing the bolts or nuts were shorter than double-hammer impact wrenches because oil-pulse impact wrenches were using high RPM and large air consumption per minute. Noise level of oil-pulse impact wrenches was 8 dB(A) lower than double-hammer impact wrenches. 3. Dominant hand-arm vibration levels of double-hammer impact wrenches in each hand were $8.24m/sec^2$ of Zh axis in right hand and $9.60m/sec^2$ of Xh axis in left hand. Dominant hand-arm vibration level of oil-pulse impact wrenches in each hand was $2.59m/sec^2$ of Xh axis in right hand and $3.23m/sec^2$ of Yh axis in left hand. 4. In double-hammer impact wrenches, corresponding hand-arm vibration levels of Xh, Yh, Zh axis in left hand were higher than hand-arm vibration levels of right hand in 3 axis. In oil-pulse impact wrenches, Xh axis of right, Yh axis of left, Zh axis of left were higher than the corresponding hand-arm vibration levels of Xh, Yh, Zh axis in right and left hand. 5. Correlation coefficients among Xh, Yh. Zh axis of right and left hand hand-arm vibration levels in double-hammer impact wrenches and oil-pulse impact wrenches were commonly high in Yh axis and correlation coefficients of Yh axis in double-hammer impact wrenches and oil-pulse impact wrenches were 0.76 and 0.86,respectively. 6. As a measure repetitiveness, plotting total daily exposure time with the number of bolts or nut per cycle, direct correlation was shown between repetitiveness and hand-arn vibration exposure, and correlation coefficient between the number of bolts or nut per cycle and total daily exposure time in double-hammer impact wrenches, oil-pulse impact wrenches were 0.84 and 0.50, respectively. 7. Considering the total acceleration level and tool variables in double-hammer impact wrenches and oil-pulse impact wrenches, air consumption in right hand, and bolt or nut capacity in left hand were commonly the variable that explainability was high. Considering the noise and tool variables in double-hammer impact wrenches and oil-pulse impact wrenches, air consumption per minute was commonly the variable that explainability was high.

• Design & Manufacturing
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• 제10권2호
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• pp.24-28
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• 2016

In this study, relevant to impact extrusion process of the rectangular batter case for electric vehicles, numerical and experimental analyses were conducted to reduce the earring defects induced in the unevenness of metal flow. Since the earring is caused by the non-uniform metal flow induced in the friction and aspect ratio in the bottom section. As a way to reduce the earring, variable land die concept was applied. In order to analyze numerically the complex metal flow by using commercial finite element package, DEFORM 3D, impact extrusion process was simplified in upsetting mode at bottom section and extrusion mode at land section. The impact extrusion experiments were conducted to verify the assessment of process parameter for impact extrusion. As results, variable land die which has longer longitudinal section makes reduce earring defects. In addition, it was confirmed that the effect that slug shape like dog-bone also can reduce the earring. This study is expected to be able to present the useful design guidelines for manufacturing the battery case.

• 한국건축시공학회:학술대회논문집
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• 한국건축시공학회 2017년도 춘계 학술논문 발표대회
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• pp.193-194
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• 2017

Effect of variable factors on carbon emissions in construction industry is hard to analysis. Therefore this study analyzies effect of variable factors on carbon emissions. This study shows importance of variable factors and emphasizes need of estimation of carbon emissions considering variable factors.

• 산업경영시스템학회지
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• 제43권4호
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• pp.59-66
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• 2020

In this study, we consider the problem of forecasting the number of inbound foreigners visiting Korea. Forecasting tourism demand is an essential decision to plan related facilities and staffs, thus many studies have been carried out, mainly focusing on the number of inbound or outbound tourists. In order to forecast tourism demand, we use a seasonal ARIMA (SARIMA) model, as well as a SARIMAX model which additionally comprises an exogenous variable affecting the dependent variable, i.e., tourism demand. For constructing the forecasting model, we use a search procedure that can be used to determine the values of the orders of the SARIMA and SARIMAX. For the exogenous variable, we introduce factors that could cause the tourism demand reduction, such as the 9/11 attack, the SARS and MERS epidemic, and the deployment of THAAD. In this study, we propose a procedure, called Measuring Impact on Demand (MID), where the impact of each factor on tourism demand is measured and the value of the exogenous variable corresponding to the factor is determined based on the measurement. To show the performance of the proposed forecasting method, an empirical analysis was conducted where the monthly number of foreign visitors in 2019 were forecasted. It was shown that the proposed method can find more accurate forecasts than other benchmarks in terms of the mean absolute percentage error (MAPE).

• 천문학논총
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• 제30권2호
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• pp.179-182
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• 2015

Dust has recently been found to be prevalent in compact binaries such as non-magnetic Cataclysmic Variable systems. As a possible source of this dust is from solid bodies, we explore impacts to non-magnetic Cataclysmic Variable disks. We use three-dimensional Smoothed Particle Hydrodynamic simulations to search for impact signatures. From injections of whole bodies to these disks, we find pulse shapes in simulated bolometric light curves that resemble impact flashes in the light curves of the Shoemaker-Levy 9 event. As a result, we tentatively identify these light curve shapes as signatures of impacts.

• The Journal of Asian Finance, Economics and Business
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• 제8권3호
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• pp.575-584
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• 2021

This research aims to examine and analyze the impact of customer shifting behavior on the shopping emotion. Based on impulse buying, customers tend to behave recently based on the constructed variables of impulse buying, outlet ambience, hedonic shopping value utilitarian shopping value, and shopping emotion. This study employs samples/survey data of the population consisted of Asian women parents in Indonesia. The survey data of this research is based on observations using time series with cross-section/one-shot, which was done in 2019. The results indicate that variable outlet ambience, hedonic shopping value, and shopping emotion have a positive and significant impact on impulse buying. Whereas the utilitarian shopping value variable has a positive but not significant relationship against impulse buying. There is a positive influence between ambience outlets and utilitarian shopping value on shopping emotion. The variable hedonic shopping value has a negative and not significant relationship towards shopping emotion. The finding of this study suggests that both the retail stores and even the superstores must pay more attention to the design of outlet ambience to create the hedonic shopping value and eventually may attempt the attention of the impulse buying customers.

• 아태비즈니스연구
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• 제11권2호
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• pp.27-43
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• 2020

Purpose - This study explores the impact of the real estate industry on related industries for the perspective of Chinese steel companies. Design/methodology/approach - The impact of housing prices on the 41 listed steel companies' performance was analyzed by using the panel data model. We used two kinds of housing price indexes that are set in the panel data models to estimate the range of the real estate market, driving the performance growth of steel listed companies. Moreover, the net profit of steel companies is used as the dependent variable. To test the stability of the model, ROA used as a dependent variable for the robustness test. Also, to avoid the time trend of housing prices, this paper selects the growth rate of housing prices as the primary research variable. After Fisher-type testings, there is no unit root problem in both independent and dependent variables. Findings - The results indicated that the rise in the housing price has a positive influence on the steel company performance. When the housing price increases by 1%, the net profit of steel enterprises will increase by 5 to 20 million yuan. Research implications or Originality - In this paper, empirical data at the micro-level and panel model are used to quantify China's real estate industry's driving effect on the iron and steel industry, providing evidence from the microdata level. It helps us to understand further the status and role of China's real estate industry in the economic structure.