• Title/Summary/Keyword: Multiple time-interval model

Search Result 50, Processing Time 0.026 seconds

An Estimation of Link Travel Time by Using BMS Data (BMS 데이터를 활용한 링크단위 여행시간 산출방안에 관한 연구)

  • Jeon, Ok-Hee;Ahn, Gye-Hyeong;Hyun, Cheol-Seung;Hong, Kyung-Sik;Kim, Hyun-Ju;Lee, Choul-Ki
    • The Journal of The Korea Institute of Intelligent Transport Systems
    • /
    • v.13 no.3
    • /
    • pp.78-88
    • /
    • 2014
  • Now, UTIS collects and provides traffic information by building RSE 1,150(unit) and OBE about 51,000(vehicle). it's inevitable to enlarge traffic information sources which use to improve quality of UTIS traffic information for Stabilizing UTIS's service. but there are missing data sections. And, In this study as a way to overcome these problems, based on BIS(Bus information system) installed and operating in the capital area to develop normal vehicle's link transit time estimation model which is used realtime collecting BMS data, we'll utilize the model to provide missing data section's information. For these problem, we selected partial section of suwon-city, anyang-city followed by drive only way or not and conducted model estimating and verification each of BMS data and UTIS traffic information. Consequently, Case2,4,6,8 presented highly credibility between UTIS communication data and estimated value but In the Case 3,5 we determined to replace communication data of UTIS' missing data section too hard for large error. So we need to apply high credibility model formula adjusting road managing condition and the situation of object section.

The Prediction of Export Credit Guarantee Accident using Machine Learning (기계학습을 이용한 수출신용보증 사고예측)

  • Cho, Jaeyoung;Joo, Jihwan;Han, Ingoo
    • Journal of Intelligence and Information Systems
    • /
    • v.27 no.1
    • /
    • pp.83-102
    • /
    • 2021
  • The government recently announced various policies for developing big-data and artificial intelligence fields to provide a great opportunity to the public with respect to disclosure of high-quality data within public institutions. KSURE(Korea Trade Insurance Corporation) is a major public institution for financial policy in Korea, and thus the company is strongly committed to backing export companies with various systems. Nevertheless, there are still fewer cases of realized business model based on big-data analyses. In this situation, this paper aims to develop a new business model which can be applied to an ex-ante prediction for the likelihood of the insurance accident of credit guarantee. We utilize internal data from KSURE which supports export companies in Korea and apply machine learning models. Then, we conduct performance comparison among the predictive models including Logistic Regression, Random Forest, XGBoost, LightGBM, and DNN(Deep Neural Network). For decades, many researchers have tried to find better models which can help to predict bankruptcy since the ex-ante prediction is crucial for corporate managers, investors, creditors, and other stakeholders. The development of the prediction for financial distress or bankruptcy was originated from Smith(1930), Fitzpatrick(1932), or Merwin(1942). One of the most famous models is the Altman's Z-score model(Altman, 1968) which was based on the multiple discriminant analysis. This model is widely used in both research and practice by this time. The author suggests the score model that utilizes five key financial ratios to predict the probability of bankruptcy in the next two years. Ohlson(1980) introduces logit model to complement some limitations of previous models. Furthermore, Elmer and Borowski(1988) develop and examine a rule-based, automated system which conducts the financial analysis of savings and loans. Since the 1980s, researchers in Korea have started to examine analyses on the prediction of financial distress or bankruptcy. Kim(1987) analyzes financial ratios and develops the prediction model. Also, Han et al.(1995, 1996, 1997, 2003, 2005, 2006) construct the prediction model using various techniques including artificial neural network. Yang(1996) introduces multiple discriminant analysis and logit model. Besides, Kim and Kim(2001) utilize artificial neural network techniques for ex-ante prediction of insolvent enterprises. After that, many scholars have been trying to predict financial distress or bankruptcy more precisely based on diverse models such as Random Forest or SVM. One major distinction of our research from the previous research is that we focus on examining the predicted probability of default for each sample case, not only on investigating the classification accuracy of each model for the entire sample. Most predictive models in this paper show that the level of the accuracy of classification is about 70% based on the entire sample. To be specific, LightGBM model shows the highest accuracy of 71.1% and Logit model indicates the lowest accuracy of 69%. However, we confirm that there are open to multiple interpretations. In the context of the business, we have to put more emphasis on efforts to minimize type 2 error which causes more harmful operating losses for the guaranty company. Thus, we also compare the classification accuracy by splitting predicted probability of the default into ten equal intervals. When we examine the classification accuracy for each interval, Logit model has the highest accuracy of 100% for 0~10% of the predicted probability of the default, however, Logit model has a relatively lower accuracy of 61.5% for 90~100% of the predicted probability of the default. On the other hand, Random Forest, XGBoost, LightGBM, and DNN indicate more desirable results since they indicate a higher level of accuracy for both 0~10% and 90~100% of the predicted probability of the default but have a lower level of accuracy around 50% of the predicted probability of the default. When it comes to the distribution of samples for each predicted probability of the default, both LightGBM and XGBoost models have a relatively large number of samples for both 0~10% and 90~100% of the predicted probability of the default. Although Random Forest model has an advantage with regard to the perspective of classification accuracy with small number of cases, LightGBM or XGBoost could become a more desirable model since they classify large number of cases into the two extreme intervals of the predicted probability of the default, even allowing for their relatively low classification accuracy. Considering the importance of type 2 error and total prediction accuracy, XGBoost and DNN show superior performance. Next, Random Forest and LightGBM show good results, but logistic regression shows the worst performance. However, each predictive model has a comparative advantage in terms of various evaluation standards. For instance, Random Forest model shows almost 100% accuracy for samples which are expected to have a high level of the probability of default. Collectively, we can construct more comprehensive ensemble models which contain multiple classification machine learning models and conduct majority voting for maximizing its overall performance.

DGA-DNS Similarity Analysis and APT Attack Detection Using N-gram (N-gram을 활용한 DGA-DNS 유사도 분석 및 APT 공격 탐지)

  • Kim, Donghyeon;Kim, Kangseok
    • Journal of the Korea Institute of Information Security & Cryptology
    • /
    • v.28 no.5
    • /
    • pp.1141-1151
    • /
    • 2018
  • In an APT attack, the communication stage between infected hosts and C&C(Command and Control) server is the key stage for intrusion into the attack target. Attackers can control multiple infected hosts by the C&C Server and direct intrusion and exploitation. If the C&C Server is exposed at this stage, the attack will fail. Therefore, in recent years, the Domain Generation Algorithm (DGA) has replaced DNS in C&C Server with a short time interval for making detection difficult. In particular, it is very difficult to verify and detect all the newly registered DNS more than 5 million times a day. To solve these problems, this paper proposes a model to judge DGA-DNS detection by the morphological similarity analysis of normal DNS and DGA-DNS, and to determine the sign of APT attack through it, then we verify its validity.

The Variations of Stratospheric Ozone over the Korean Peninsula 1985~2009 (한반도 상공의 오존층 변화 1985~2009)

  • Park, Sang Seo;Kim, Jhoon;Cho, Nayeong;Lee, Yun Gon;Cho, Hi Ku
    • Atmosphere
    • /
    • v.21 no.4
    • /
    • pp.349-359
    • /
    • 2011
  • The climatology in stratospheric ozone over the Korean Peninsula, presented in previous studies (e.g., Cho et al., 2003; Kim et al., 2005), is updated by using daily and monthly data from satellite and ground-based data through December 2009. In addition, long-term satellite data [Total Ozone Mapping Spectrometer (TOMS), Ozone Monitoring Instrument (OMI), 1979~2009] have been also analyzed in order to deduce the spatial distributions and temporal variations of the global total ozone. The global average of total ozone (1979~2009) is 298 DU which shows a minimum of about 244 DU in equatorial latitudes and increases poleward in both hemispheres to a maximum of about 391 DU in Okhotsk region. The recent period, from 2006 to 2009, shows reduction in total ozone by 6% relative to the values for the pre-1980s (1979~1982). The long-term trends were estimated by using a multiple linear regression model (e.g., WMO, 1999; Cho et al., 2003) including explanatory variables for the seasonal variation, Quasi-Biennial Oscillation (QBO) and solar cycle over three different time intervals: a whole interval from 1979 to 2009, the former interval from 1979 to 1992, and the later interval from 1993 to 2009 with a turnaround point of deep minimum in 1993 is related to the effect of Mt. Pinatubo eruption. The global trend shows -0.93% $decade^{-1}$ for the whole interval, whereas the former and the later interval trends amount to -2.59% $decade^{-1}$ and +0.95% $decade^{-1}$, respectively. Therefore, the long-term total ozone variations indicate that there are positive trends showing a recovery sign of the ozone layer in both North/South hemispheres since around 1993. Annual mean total ozone (1985~2009) is distributed from 298 DU for Jeju ($33.52^{\circ}N$) to 352 DU for Unggi ($42.32^{\circ}N$) in almost zonally symmetric pattern over the Korean Peninsula, with the latitudinal gradient of 6 DU $degree^{-1}$. It is apparent that seasonal variability of total ozone increases from Jeju toward Unggi. The annual mean total ozone for Seoul shows 323 DU, with the maximum of 359 DU in March and the minimum of 291 DU in October. It is found that the day to day variability in total ozone exhibits annual mean of 5.7% in increase and -5.2% in decrease. The variability as large as 38.4% in increase and 30.3% in decrease has been observed, respectively. The long-term trend analysis (e.g., WMO, 1999) of monthly total ozone data (1985~2009) merged by satellite and ground-based measurements over the Korean Peninsula shows increase of 1.27% $decade^{-1}$ to 0.80% $decade^{-1}$ from Jeju to Unggi, respectively, showing systematic decrease of the trend magnitude with latitude. This study also presents a new analysis of ozone density and trends in the vertical distribution of ozone for Seoul with data up to the end of 2009. The mean vertical distributions of ozone show that the maximum value of the ozone density is 16.5 DU $km^{-1}$ in the middle stratospheric layer between 24 km and 28 km. About 90.0% and 71.5% of total ozone are found in the troposphere and in the stratosphere between 15 and 33 km, respectively. The trend analysis reconfirms the previous results of significant positive ozone trend, of up to 5% $decade^{-1}$, in the troposphere and the lower stratosphere (0~24 km), with negative trend, of up to -5% $decade^{-1}$, in the stratosphere (24~38 km). In addition, the Umkehr data show a positive trend of about 3% $decade^{-1}$ in the upper stratosphere (38~48 km).

Percutaneous Biliary Metallic Stent Insertion in Patients with Malignant Duodenobiliary Obstruction: Outcomes and Factors Influencing Biliary Stent Patency

  • Ji Hye Kwon;Dong Il Gwon;Jong Woo Kim;Hee Ho Chu;Jin Hyoung Kim;Gi-Young Ko;Hyun-Ki Yoon;Kyu-Bo Sung
    • Korean Journal of Radiology
    • /
    • v.21 no.6
    • /
    • pp.695-706
    • /
    • 2020
  • Objective: To investigate the technical and clinical efficacy of the percutaneous insertion of a biliary metallic stent, and to identify the factors associated with biliary stent dysfunction in patients with malignant duodenobiliary obstruction. Materials and Methods: The medical records of 70 patients (39 men and 31 women; mean age, 63 years; range, 38-90 years) who were treated for malignant duodenobiliary obstruction at our institution between April 2007 and December 2018, were retrospectively reviewed. Variables found significant by univariate log-rank analysis (p < 0.2) were considered as suitable candidates for a multiple Cox's proportional hazard model. Results: The biliary stents were successfully placed in all 70 study patients. Biliary stent insertion with subsequent duodenal stent insertion was performed in 33 patients and duodenal stent insertion with subsequent biliary stent insertion was performed in the other 37 study subjects. The median patient survival and stent patency time were 107 days (95% confidence interval [CI], 78-135 days) and 270 days (95% CI, 95-444 days), respectively. Biliary stent dysfunction was observed in 24 (34.3%) cases. Multiple Cox's proportional hazard analysis revealed that the location of the distal biliary stent was the only independent factor affecting biliary stent patency (hazard ratio, 3.771; 95% CI, 1.157-12.283). The median biliary stent patency was significantly longer in patients in whom the distal end of the biliary stent was beyond the distal end of the duodenal stent (median, 327 days; 95% CI, 249-450 days), rather than within the duodenal stent (median, 170 days; 95% CI, 115-225 days). Conclusion: The percutaneous insertion of the biliary metallic stent appears to be a technically feasible, safe, and effective method of treating malignant duodenobiliary obstruction. In addition, a biliary stent system with a distal end located beyond the distal end of the duodenal stent will contribute towards longer stent patency in these patients.

A Longitudinal Validation Study of the Korean Version of PCL-5(Post-traumatic Stress Disorder Checklist for DSM-5) (PCL-5(DSM-5 기준 외상 후 스트레스 장애 체크리스트) 한국판 종단 타당화 연구)

  • Lee, DongHun;Lee, DeokHee;Kim, SungHyun;Jung, DaSong
    • Korean Journal of Culture and Social Issue
    • /
    • v.28 no.2
    • /
    • pp.187-217
    • /
    • 2022
  • The aim of this study is to examine the psychometric properties of the Korean version of the Post-traumatic Stress Disorder Checklist for DSM-5(PCL-5). For this purpose, online surveys were conducted for two times with a one year interval using the data from 1,077 Korean adults at time 1, and 563 Korean adults at time 2. First, from the result of the confirmatory factor analysis, comparing the model fit of the 1, 4, 6, and 7-factor model, the 4, 6, and 7-factor model showed a acceptable fit, and the best fit was seen in the order of the 7, 6, 4-factor model. Second, the internal consistency, omega coefficient, construct validity, average variance extracted, and test-retest reliability results were all satisfactory.. Third, a correlation analysis with the K-PC-PTSD-5 and the sub-factors of BSI-18 was conducted to check the validity of the Korean Version of PCL-5. As a result, a positive correlation was seen with both K-PC-PTSD-5 and BSI-18. Fourth, a hierarchical multiple regression was performed to examine whether the Korean Version of PCL-5 predicts future PTSD, depression, anxiety, and somatization. As a result, the Korean Version of PCL-5 measured at time 1 significantly predicted PTSD, depression, anxiety, and somatization symptoms at time 2. Fifth, by analyzing the ROC curve, the discriminant power of PCL-5 for screening PTSD symptom groups was confirmed, and the best cut-off score was suggested. As a result of the longitudinal validation of Korean version of PCL-5, it was found that this scale is a reliable and valid measure for Korean adults. By looking into the predictive validity of the scale, it was found that the Korean version of PCL-5 can predict not only PTSD symptoms but also PTSD-related symptoms such as depression, anxiety, and somatization. Also, this study differs from previous validation studies measuring PTSD symptoms in that it suggested a cut-off score to help differentiate PTSD symptom groups.

The Effects of Acupuncture on the Electroencephalogram of Patients with Stroke (자침이 중풍환자의 뇌파 변화에 미치는 영향)

  • Yoon, Ga-Young;Park, Ji-Min;Kim, Dong-Hyuk;Seon, Jong-In;Kang, Jung-Won;Nam, Dong-Woo;Lee, Seung-Deok;Choi, Do-Young;Lee, Jae-Dong
    • Journal of Acupuncture Research
    • /
    • v.29 no.5
    • /
    • pp.1-16
    • /
    • 2012
  • Objectives : The purpose of this study was to examine the effects of manual acupuncture at the $LI_4$, $ST_{36}$ and $LR_3$ on Electroencephalogram(EEG) of patients with stroke. Methods : 32 channel EEG measurement was carried out in 35 Stroke patients(23 males and 12 females). EEG was measured for 21 minutes(made up of 7 sessions, 1 session means 3 minutes time interval) including 15 minutes(5 sessions) of acupuncture time. Power spectrum analysis was used as a measure of complexity. Statistical analysis was performed using Linear mixed model and DUNNETT's multiple comparison. Results : The results were as follows; 1. EEG amplitude was reduced during acupuncture except electrodes PG1 and PG2. 2. There was a notable change during 6~9 minutes after needling in ${\delta}{\cdot}{\beta}{\cdot}{\gamma}$ wave, and during 6~9 minutes after needling in ${\Theta}{\cdot}{\alpha}$ wave. Overall, during 6~9 minutes after needling. 3. TP8 is a common significant electrode among five wave forms. Conclusions : These results suggest that TP8 could be typical electrodes and change of EEG compared to baseline happens most often during 6~9 minutes after manipulated acupuncture at the $LI_4$, $ST_{36}$ and $LR_3$ of patients with stroke.

Predictors of breast-feeding discontinuation in some followed-up hospital-delivered mothers (추적조사된 대구시내 일부 병원분만 산모에서 모유수유중단 예측변수)

  • Lee, Choong-Won;Lee, Moo-Sik;Park, Jong-Won;Lee, Mi-Young;Kang, Mi-Joung;Shin, Dong-Hoon;Lee, Se-Youp
    • Journal of Preventive Medicine and Public Health
    • /
    • v.28 no.4 s.51
    • /
    • pp.845-862
    • /
    • 1995
  • We followed prospectively some hospital-delivered mothers to identify characteristics of those not initiated breast-feeding and predictors of breast-feeding discontinuation in monthly telephone interviews. Recruits were composed of 482 mothers who delivered their babies at one university hospital and one OB/GYN clinic in September to November 1991. Breast-feeding discontinuation was defined as switch to 100% formula lasting more than one week regardless of solid foods. Average age of the study subjects was 27.3 years of age(standard deviation 3.2). Multiple logistic regression analysis indicated native place, occupation, method of delivery and method of feeding considered to be better for maternal health were statistically significant(p<0.1) between initiators and non-initiators of breast feeding. In starting cohort(N=242) of those initiated breast-feeding, that median of breast-feeding discontinuation were 5 months and 25th and 75th percentiles were 3 and 9 months respectively. In Cox's proportional hazard model, mothers with $10\sim13$ years of education were 2.63 times (95% confidence interval, CI $1.50\sim4.60$) more likely to discontinue than those with less than 9 years of education and those with more than 13 years of education were 3.55 time (95% CI $1.99\sim6.33$). Compared with house wife, mothers with part-time jobs were 1.99 times (95% CI $0.86\sim4.57$) more likely to discontinue and those with employed full-time were 1.55 times (95% CI $0.96\sim2.51$). These results suggest that the predictors of initiation and discontinuation of breast-feeding may be different and different target populations should be selected to promote initiation and to prevent discontinuation of breast-feeding according to the period after birth.

  • PDF

The Gains To Bidding Firms' Stock Returns From Merger (기업합병의 성과에 영향을 주는 요인에 대한 실증적 연구)

  • Kim, Yong-Kap
    • Management & Information Systems Review
    • /
    • v.23
    • /
    • pp.41-74
    • /
    • 2007
  • In Korea, corporate merger activities were activated since 1980, and nowadays(particuarly since 1986) the changes in domestic and international economic circumstances have made corporate managers have strong interests in merger. Korea and America have different business environments and it is easily conceivable that there exists many differences in motives, methods, and effects of mergers between the two countries. According to recent studies on takeover bids in America, takeover bids have information effects, tax implications, and co-insurance effects, and the form of payment(cash versus securities), the relative size of target and bidder, the leverage effect, Tobin's q, number of bidders(single versus multiple bidder), the time period (before 1968, 1968-1980, 1981 and later), and the target firm reaction (hostile versus friendly) are important determinants of the magnitude of takeover gains and their distribution between targets and bidders at the announcement of takeover bids. This study examines the theory of takeover bids, the status quo and problems of merger in Korea, and then investigates how the announcement of merger are reflected in common stock returns of bidding firms, finally explores empirically the factors influencing abnormal returns of bidding firms' stock price. The hypotheses of this study are as follows ; Shareholders of bidding firms benefit from mergers. And common stock returns of bidding firms at the announcement of takeover bids, shows significant differences according to the condition of the ratio of target size relative to bidding firm, whether the target being a member of the conglomerate to which bidding firm belongs, whether the target being a listed company, the time period(before 1986, 1986, and later), the number of bidding firm's stock in exchange for a stock of the target, whether the merger being a horizontal and vertical merger or a conglomerate merger, and the ratios of debt to equity capital of target and bidding firm. The data analyzed in this study were drawn from public announcements of proposals to acquire a target firm by means of merger. The sample contains all bidding firms which were listed in the stock market and also engaged in successful mergers in the period 1980 through 1992 for which there are daily stock returns. A merger bid was considered successful if it resulted in a completed merger and the target firm disappeared as a separate entity. The final sample contains 113 acquiring firms. The research hypotheses examined in this study are tested by applying an event-type methodology similar to that described in Dodd and Warner. The ordinary-least-squares coefficients of the market-model regression were estimated over the period t=-135 to t=-16 relative to the date of the proposal's initial announcement, t=0. Daily abnormal common stock returns were calculated for each firm i over the interval t=-15 to t=+15. A daily average abnormal return(AR) for each day t was computed. Average cumulative abnormal returns($CART_{T_1,T_2}$) were also derived by summing the $AR_t's$ over various intervals. The expected values of $AR_t$ and $CART_{T_1,T_2}$ are zero in the absence of abnormal performance. The test statistics of $AR_t$ and $CAR_{T_1,T_2}$ are based on the average standardized abnormal return($ASAR_t$) and the average standardized cumulative abnormal return ($ASCAR_{T_1,T_2}$), respectively. Assuming that the individual abnormal returns are normal and independent across t and across securities, the statistics $Z_t$ and $Z_{T_1,T_2}$ which follow a unit-normal distribution(Dodd and Warner), are used to test the hypotheses that the average standardized abnormal returns and the average cumulative standardized abnormal returns equal zero.

  • PDF

A Study on Startups' Dependence on Business Incubation Centers (창업보육서비스에 따른 입주기업의 창업보육센터 의존도에 관한 연구)

  • Park, JaeSung;Lee, Chul;Kim, JaeJon
    • Korean small business review
    • /
    • v.31 no.2
    • /
    • pp.103-120
    • /
    • 2009
  • As business incubation centers (BICs) have been operating for more than 10 years in Korea, many early stage startups tend to use the services provided by the incubating centers. BICs in Korea have accumulated the knowledge and experience in the past ten years and their services have been considerably improved. The business incubating service has three facets : (1) business infrastructure service, (2) direct service, and (3) indirect service. The mission of BICs is to provide the early stage entrepreneurs with the incubating service in a limited period time to help them grow strong enough to survive the fierce competition after graduating from the incubation. However, the incubating services sometimes fail to foster the independence of new startup companies, and raise the dependence of many companies on BICs. Thus, the dependence on BICs is a very important factor to understand the survival of the incubated startup companies after graduation from BICs. The purpose of this study is to identify the main factors that influence the firm's dependence on BICs and to characterize the relationships among the identified factors. The business incubating service is a core construct of this study. It includes various activities and resources, such as offering the physical facilities, legal service, and connecting them with outside organizations. These services are extensive and take various forms. They are provided by BICs directly or indirectly. Past studies have identified various incubating services and classify them in different ways. Based on the past studies, we classify the business incubating service into three categories as mentioned above : (1) business infrastructure support, (2) direct support, and (3) networking support. The business infrastructure support is to provide the essential resources to start the business, such as physical facilities. The direct support is to offer the business resources available in the BICs, such as human, technical, and administrational resources. Finally, the indirect service was to support the resource in the outside of business incubation center. Dependence is generally defined as the degree to which a client firm needs the resources provided by the service provider in order to achieve its goals. Dependence is generated when a firm recognizes the benefits of interacting with its counterpart. Hence, the more positive outcomes a firm derives from its relationship with the partner, the more dependent on the partner the firm must inevitably become. In business incubating, as a resident firm is incubated in longer period, we can predict that her dependence on BICs would be stronger. In order to foster the independence of the incubated firms, BICs have to be able to manipulate the provision of their services to control the firms' dependence on BICs. Based on the above discussion, the research model for relationships between dependence and its affecting factors was developed. We surveyed the companies residing in BICs to test our research model. The instrument of our study was modified, in part, on the basis of previous relevant studies. For the purposes of testing reliability and validity, preliminary testing was conducted with firms that were residing in BICs and incubated by the BICs in the region of Gwangju and Jeonnam. The questionnaire was modified in accordance with the pre-test feedback. We mailed to all of the firms that had been incubated by the BICs with the help of business incubating managers of each BIC. The survey was conducted over a three week period. Gifts (of approximately ₩10,000 value) were offered to all actively participating respondents. The incubating period was reported by the business incubating managers, and it was transformed using natural logarithms. A total of 180 firms participated in the survey. However, we excluded 4 cases due to a lack of consistency using reversed items in the answers of the companies, and 176 cases were used for the analysis. We acknowledge that 176 samples may not be sufficient to conduct regression analyses with 5 research variables in our study. Each variable was measured through multiple items. We conducted an exploratory factor analysis to assess their unidimensionality. In an effort to test the construct validity of the instruments, a principal component factor analysis was conducted with Varimax rotation. The items correspond well to each singular factor, demonstrating a high degree of convergent validity. As the factor loadings for a variable (or factor) are higher than the factor loadings for the other variables, the instrument's discriminant validity is shown to be clear. Each factor was extracted as expected, which explained 70.97, 66.321, and 52.97 percent, respectively, of the total variance each with eigen values greater than 1.000. The internal consistency reliability of the variables was evaluated by computing Cronbach's alphas. The Cronbach's alpha values of the variables, which ranged from 0.717 to 0.950, were all securely over 0.700, which is satisfactory. The reliability and validity of the research variables are all, therefore, considered acceptable. The effects of dependence were assessed using a regression analysis. The Pearson correlations were calculated for the variables, measured by interval or ratio scales. Potential multicollinearity among the antecedents was evaluated prior to the multiple regression analysis, as some of the variables were significantly correlated with others (e.g., direct service and indirect service). Although several variables show the evidence of significant correlations, their tolerance values range between 0.334 and 0.613, thereby demonstrating that multicollinearity is not a likely threat to the parameter estimates. Checking some basic assumptions for the regression analyses, we decided to conduct multiple regression analyses and moderated regression analyses to test the given hypotheses. The results of the regression analyses indicate that the regression model is significant at p < 0.001 (F = 44.260), and that the predictors of the research model explain 42.6 percent of the total variance. Hypotheses 1, 2, and 3 address the relationships between the dependence of the incubated firms and the business incubating services. Business infrastructure service, direct service, and indirect service are all significantly related with dependence (β = 0.300, p < 0.001; β = 0.230, p < 0.001; β = 0.226, p < 0.001), thus supporting Hypotheses 1, 2, and 3. When the incubating period is the moderator and dependence is the dependent variable, the addition of the interaction terms with the antecedents to the regression equation yielded a significant increase in R2 (F change = 2.789, p < 0.05). In particular, direct service and indirect service exert different effects on dependence. Hence, the results support Hypotheses 5 and 6. This study provides several strategies and specific calls to action for BICs, based on our empirical findings. Business infrastructure service has more effect on the firm's dependence than the other two services. The introduction of an additional high charge rate for a graduated but allowed to stay in the BIC is a basic and legitimate condition for the BIC to control the firm's dependence. We detected the differential effects of direct and indirect services on the firm's dependence. The firms with long incubating period are more sensitive to indirect service positively, and more sensitive to direct service negatively, when assessing their levels of dependence. This implies that BICs must develop a strategy on the basis of a firm's incubating period. Last but not least, it would be valuable to discover other important variables that influence the firm's dependence in the future studies. Moreover, future studies to explain the independence of startup companies in BICs would also be valuable.