• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.14 no.4
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• pp.179-190
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• 2019

To alleviate financing difficulties of small and medium sized enterprises (SMEs), the government and municipal governments are providing a variety of SME policy funding programs. This study introduced the policy funding program of Gangwon-do and quantitatively analyzed the financial performance of companies supported by the Gangwon-do SME policy fund in the year 2014. Specifically, we compared the financial ratios for three years, from 2013 to 2015, between funded firms and non-funded firms. In addition, we applied a regression analysis to see if the policy funding program contributed to profitability (the operating profit growth and return on equity), stability (the interest coverage ratio and debt-to-equity ratio), and growth (the asset growth and sales growth) of the funded firms. The empirical results show that the firms that received the policy funds did not show any improvement compared to non-funded firms in terms of profitability, stability, and growth. This suggests that Gangwon-do should improve the policy funding program, that currently provides only an interest amount of 2-4% of the corporate loan principal, without any strategic selection criteria for the target funded firms, and without any follow-up management system, after support.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.17 no.10
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• pp.520-526
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• 2016

This study aims to develop a distress prediction model, in order to evaluate the distress prediction power for first-class hotels and to calculate the average financial ratio in the Seoul area by using the financial ratios of hotels in 2015. The sample data was collected from 19 first-class hotels in Seoul and the financial ratios extracted from 14 of these 19 hotels. The results show firstly that the seven financial ratios, viz. the current ratio, total borrowings and bonds payable to total assets, interest coverage ratio to operating income, operating income to sales, net income to stockholders' equity, ratio of cash flows from operating activities to sales and total assets turnover, enable the top-level corporations to be discriminated from the failed corporations and, secondly, by using these seven financial ratios, a discriminant function which classifies the corporations into top-level and failed ones is estimated by linear multiple discriminant analysis. The accuracy of prediction of this discriminant capability turned out to be 87.9%. The accuracy of the estimates obtained by discriminant analysis indicates that the distress prediction model's distress prediction power is 78.95%. According to the analysis results, hotel management groups which administrate low level corporations need to focus on the classification of these seven financial ratios. Furthermore, hotel corporations have very different financial structures and failure prediction indicators from other industries. In accordance with this finding, for the development of credit evaluation systems for such hotel corporations, there is a need for systems to be developed that reflect hotel corporations' financial features.

• Journal of Industrial Convergence
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• v.22 no.2
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• pp.1-12
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• 2024

This study investigates what decisions have an impact on bank performance. A panel regression analysis was conducted using data from the financial statements of banks located in the United States from 2013 to 2022, and the effects of explanatory variables were examined through hierarchical panel regression analysis divided into financial decision-making and management decision-making. In addition, by analyzing performance separately from the creditor and shareholder perspectives (hereinafter referred to as overall) and from the shareholder perspective alone, it suggests which elements should be utilized and how to improve performance from each perspective. When a panel regression analysis was performed using only liquidity and stability, dependency on deposits and the interest coverage ratio had a statistically significant impact from the perspective of overall performance, and the debt ratio also had a statistically significant impact from the perspective of shareholder performance. When adding non-technical factors, only the labor cost ratio among non-technical factors was found to be statistically significant from the overall performance perspective, and although the non-technical factors were not statistically significant from the shareholder performance perspective, the cash ratio was found to have a statistically significant impact. Lastly, when adding technical innovation elements, the intangible asset ratio was not statistically significant from the overall performance perspective, but was significant from the shareholder performance perspective. The significance and implications of this study are that there are differences in factors that can affect the performance of overall or shareholder and that various decision-making factors can affect a bank's performance.

• Proceedings of the Korean Vacuum Society Conference
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• 1999.07a
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• pp.211-211
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• 1999

Titanium nitride (TiN) thin films have useful properties including high hardness, good electrical conductivity, high melting point, and chemical inertness. The applications have included wear-resistant hard coatings on machine tools and bearings, decorative coating making use of the golden color, thermal control coatings for widows, and erosion resistant coatings for spacecraft plasma probes. For all these applications as feature sizes shrink and aspect ratios grow, the issue of good step coverage becomes increasingly important. It is therefore essential to manufacture conformal coatings of TiN. The growth of TiN thin films by chemical vapor deposition (CVD) is of great interest for achieving conformal deposition. The most widely used precursor for TiN is TiCl4 and NH3. However, chlorine impurity in the as-grown films and relatively high deposition temperature (>$600^{\circ}C$) are considered major drawbacks from actual device fabrication. To overcome these problems, recently, MOCVD processes including plasma assisted have been suggested. In this study, therefore, we have doposited Ti(C, N) thin films on Si(100) and D2 steel substrates in the temperature range of 150-30$0^{\circ}C$ using tetrakis diethylamido titanium (TDEAT) and titanium isopropoxide (TIP) by pulsed DC plamsa enhanced metal-organic chemical vapor deposition (PEMOCVD) method. Polycrystalline Ti(C, N) thin films were successfully grown on either D2 steel or Si(100) surfaces at temperature as low as 15$0^{\circ}C$. Compositions of the as-grown films were determined with XPS and RBS. From XPS analysis, thin films of Ti(C, N) with low oxygen concentration were obtained. RBS data were also confirmed the changes of stoichiometry and microhardness of our films. Radical formation and ionization behaviors in plasma are analyzed by optical emission spectroscopy (OES) at various pulsed bias and gases conditions. H2 and He+H2 gases are used as carrier gases to compare plasma parameter and the effect of N2 and NH3 gases as reactive gas is also evaluated in reduction of C content of the films. In this study, we fond that He and H2 mixture gas is very effective in enhancing ionization of radicals, especially N resulting is high hardness. The higher hardness of film is obtained to be ca. 1700 HK 0.01 but it depends on gas species and bias voltage. The proper process is evident for H and N2 gas atmosphere and bias voltage of 600V. However, NH3 gas highly reduces formation of CN radical, thereby decreasing C content of Ti(C, N) thin films in a great deal. Compared to PVD TiN films, the Ti(C, N) film grown by PEMOCVD has very good conformability; the step coverage exceeds 85% with an aspect ratio of more than 3.

• Progress in Medical Physics
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• v.23 no.2
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• pp.106-113
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• 2012

The purpose of this study is to evaluate the variation of radiation dose distribution for liver tumor located in liver dome and for the interest organs(normal liver, kidney, stomach) with the pencil beam convolution (PBC) algorithm versus anisotropic Analyticalal algorithm (AAA) of the Varian Eclipse treatment planning system, The target volumes from 20 liver cancer patients were used to create treatment plans. Treatment plans for 10 patients were performed in Stereotactic Body Radiation Therapy (SBRT) plan and others were performed in 3 Dimensional Conformal Radiation Therapy (3DCRT) plan. dose calculation was recalculated by AAA algorithm after dose calculation was performed by PBC algorithm for 20 patients. Plans were optimized to 100% of the PTV by the Prescription Isodose in Dose Calculation with the PBC algorithm. Plans were recalculated with the AAA, retaining identical beam arrangements, monitor units, field weighting and collimator condition. In this study, Total PTV was to be statistically significant (SRS: p=0.018, 3DCRT: p=0.006) between PBC and AAA algorithm. and in the case of PTV, ITV in liver dome, plans for 3DCRT were to be statistically significant respectively (p=0.013, p=0.024). normal liver and kidney were to be statistically significant (p=0.009, p=0.037). For the predictive index of dose variation, CVF ratio was to be statistically significant for PTV in the liver dome versus PTV (SRS r=0.684, 3DCRT r=0.732, p<0.01) and CVF ratio for Tumor size was to be statistically significant (SRS r=-0.193, p=0.017, 3DCRT r=0.237, p=0.023).

• Korean Journal of Remote Sensing
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• v.31 no.3
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• pp.227-244
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• 2015

Synthetic Aperture Radar is able to provide images of wide coverage in day, night, and all-weather conditions. Recently, as the SAR image resolution improves up to the sub-meter level, their applications are rapidly expanding accordingly. Especially there is a growing interest in the use of geographic information of high resolution SAR images and the change detection will be one of the most important technique for their applications. In this paper, an automatic threshold tracking and change detection algorithm is proposed applicable to high-resolution SAR images. To detect changes within SAR image, a reference image is generated using log-ratio operator and its amplitude distribution is estimated through K-S test. Assuming SAR image has a non-gaussian amplitude distribution, a generalized thresholding technique is applied using Kittler and Illingworth minimum-error estimation. Also, MoLC parametric estimation method is adopted to improve the algorithm performance on rough ground target. The implemented algorithm is tested and verified on the simulated SAR raw data. Then, it is applied to the spaceborne high-resolution SAR images taken by Cosmo-Skymed and KOMPSAT-5 and the performances are analyzed and compared.

• Journal of Climate Change Research
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• v.1 no.3
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• pp.219-226
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• 2010

This study is analyzed the financial feasibility of biomass power plant in China in terms of fuel marginal price of biomass power plant. The range of fuel price is 150~300 RMB and IRR(Internal Rate of Return), NPV(Net Present Value), DSCR(Debt Service Coverage Ratio) and operation time are analyzed by 10 RMB from 150 RMB. The sensitivity of IRR went down by 1.35 on average. The sensibility of NPV showed big difference by 20% on 260 RMB and 270 RMB. In addition, DSCR of loan is at 1.0 at raw cost of 242 RMB and at lower than 1.0 when the raw cost over 242 RMB. It means that the pay-off of principal and interest of the loan is expected to be difficult in that case. The operation time of power plant should be 88% against standard operation time to maintain over 1.0 of DSCR. Therefore, the factors affecting the cost of raw material to build the power plant and to operate it should be prioritized.

• Journal of Intelligence and Information Systems
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• v.26 no.3
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• pp.37-50
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• 2020

Information security has become an important issue in the world. Various information and communication technologies, such as the Internet of Things, big data, cloud, and artificial intelligence, are developing, and the need for information security is increasing. Although the necessity of information security is expanding according to the development of information and communication technology, interest in information security investment is insufficient. In general, measuring the effect of information security investment is difficult, so appropriate investment is not being practice, and organizations are decreasing their information security investment. In addition, since the types and specification of information security measures are diverse, it is difficult to compare and evaluate the information security countermeasures objectively, and there is a lack of decision-making methods about information security investment. To develop the organization, policies and decisions related to information security are essential, and measuring the effect of information security investment is necessary. Therefore, this study proposes a method of constructing an investment portfolio for information security measures using game theory and derives an optimal defence probability. Using the two-person game model, the information security manager and the attacker are assumed to be the game players, and the information security countermeasures and information security threats are assumed as the strategy of the players, respectively. A zero-sum game that the sum of the players' payoffs is zero is assumed, and we derive a solution of a mixed strategy game in which a strategy is selected according to probability distribution among strategies. In the real world, there are various types of information security threats exist, so multiple information security measures should be considered to maintain the appropriate information security level of information systems. We assume that the defence ratio of the information security countermeasures is known, and we derive the optimal solution of the mixed strategy game using linear programming. The contributions of this study are as follows. First, we conduct analysis using real performance data of information security measures. Information security managers of organizations can use the methodology suggested in this study to make practical decisions when establishing investment portfolio for information security countermeasures. Second, the investment weight of information security countermeasures is derived. Since we derive the weight of each information security measure, not just whether or not information security measures have been invested, it is easy to construct an information security investment portfolio in a situation where investment decisions need to be made in consideration of a number of information security countermeasures. Finally, it is possible to find the optimal defence probability after constructing an investment portfolio of information security countermeasures. The information security managers of organizations can measure the specific investment effect by drawing out information security countermeasures that fit the organization's information security investment budget. Also, numerical examples are presented and computational results are analyzed. Based on the performance of various information security countermeasures: Firewall, IPS, and Antivirus, data related to information security measures are collected to construct a portfolio of information security countermeasures. The defence ratio of the information security countermeasures is created using a uniform distribution, and a coverage of performance is derived based on the report of each information security countermeasure. According to numerical examples that considered Firewall, IPS, and Antivirus as information security countermeasures, the investment weights of Firewall, IPS, and Antivirus are optimized to 60.74%, 39.26%, and 0%, respectively. The result shows that the defence probability of the organization is maximized to 83.87%. When the methodology and examples of this study are used in practice, information security managers can consider various types of information security measures, and the appropriate investment level of each measure can be reflected in the organization's budget.

• Korean Journal of Environmental Biology
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• v.22 no.3
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• pp.351-368
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• 2004

Following the previous experiments, a starvation experiment was conducted to determine the influence of feeding and starvation on the histological and biochemical changes, the morphormetric changes in the sectioned body and the morphometric changes in Rhynchocypris oxycephalus (Sauvage and Dabry). The influence of starvation on nutritional conditions of the histological changes of hepatocyte and intestinal epithelium as hepatosmatic index (HSI), protein, RNA and DNA concentrations of liver in R. oxycephalus was tested. Although the starved group showed higher concentrations of protein, DNA and RNA than the fed group, food deprivation resulted in a decrease in the HSI, hepatocyte nucleus size and nuclear height of the intestinal epithelium. The RNA - DNA ratio appears to be a useful index of nutritional status in R. oxycephalus and may be useful for determining if R. oxycephalus is in a period of rapid or slow growth at the time of sampling. Additionally, the data have been interpreted in detail and some biologically important relationships discussed. The effects of starvation on the morphometrical changes in sectioned body traits, condition factor, viscera index and dressing percentage were determined for evaluating nutritional conditions of R. oxycephalus. Starvation for nine weeks resulted in a decrease in most sectioned traits as well as in condition factor and viscera index (P<0.05). These findings suggest that nutritional parameters used in this study appear to be a useful index for nutritional status in this species. The data has been interpreted in detail and some important body sectioned values of interest to commercial growers discussed. A 75-day study was conducted to determine the effect of starvation on classical and truss parameters in R. oxycephalus. Truss dimensions of almost the entire head and trunk region as well as the abdomen were increased significantly through feeding or starvation (P<0.05). Truss dimensions of the caudal region generally decreased through feeding or starvation, particularly those dimensions at the hind part of the trunk. There were some significant decreases in classical dimensions of the head region during feeding, in relation to body depth characteristics in the trunk and caudal region during starvation, whereas there was only one decreasing classical dimension in the caudal region during feeding. The results of this study indicate that application of the truss network as a character set enforces classical coverage across the body form, discrimination among experimental groups thus being enhanced. Considering that the dimension of the lower part of the head and some truss and classical dimensions were least affected by feeding and starvation, these dimensions may then be useful as a taxonomical indicator to discriminate the species of Rhynchocypris sp. The value of trunk region dimensions with a large component of body depth in R. oxycephalus is most likely to be compromised by variability related to differences in feeding regimes of fish in different habitats.