• Title/Summary/Keyword: Original Shape

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Migration of the Dokdo Cold Eddy in the East Sea (동해 독도 냉수성 소용돌이의 이동 특성)

  • KIM, JAEMIN;CHOI, BYOUNG-JU;LEE, SANG-HO;BYUN, DO-SEONG;KANG, BOONSOON
    • The Sea:JOURNAL OF THE KOREAN SOCIETY OF OCEANOGRAPHY
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    • v.24 no.2
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    • pp.351-373
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    • 2019
  • The cold eddies around the Ulleung Basin in the East Sea were identified from satellite altimeter sea level data using the Winding-Angle method from 1993 to 2015. Among the cold eddies, the Dokdo Cold Eddies (DCEs), which were formed at the first meandering trough of the East Korea Warm Current (EKWC) and were pinched off to the southwest from the eastward flow, were classified and their migration patterns were analyzed. The vertical structures of water temperature, salinity, and flow velocity near the DCE center were also examined using numerical simulation and observation data provided by the Hybrid Coordinate Ocean Model and the National Institute of Fisheries Science, respectively. A total of 112 DCEs were generated for 23 years. Of these, 39 DCEs migrated westward and arrived off the east coast of Korea. The average travel distance was 250.9 km, the average lifespan was 93 days, and the average travel speed was 3.5 cm/s. The other 73 DCEs had moved to the east or had hovered around the generated location until they disappeared. At 50-100 m depth under the DCE, water temperature and salinity (T < $5^{\circ}C$, S < 34.1) were lower than those of ambient water and isotherms made a dome shape. Current faster than 10 cm/s circulates counterclockwise from the surface to 300 m depth at 38 km away from the center of DCE. After the EKWC separates from the coast, it flows eastward and starts to meander near Ulleungdo. The first trough of the meander in the east of Ulleungdo is pushed deep into the southwest and forms a cold eddy (DCE), which is shed from the meander in the south of Ulleungdo. While a DCE moves westward, it circumvents the Ulleung Warm Eddy (UWE) clockwise and follows U shape path toward the east coast of Korea. When the DCE arrives near the coast, the EKWC separates from the coast at the south of DCE and circumvents the DCE. As the DCE near the coast weakens and extinguishes about 30 days later after the arrival, the EKWC flows northward along the coast recovering its original path. The DCE steadily transports heat and salt from the north to the south, which helps to form a cold water region in the southwest of the Ulleung Basin and brings positive vorticity to change the separation latitude and path of the EKWC. Some of the DCEs moving to the west were merged into a coastal cold eddy to form a wide cold water region in the west of Ulleung Basin and to create a elongated anticlockwise circulation, which separated the UWE in the north from the EKWC in the south.

A Study on the Reproducibility of 3D Shape Model of Garden Cultural Heritage using Photogrammetry with SNS Photographs - Focused on Soswaewon Garden, Damyang(Scenic Site No.40) - (SNS 사진과 사진측량을 이용한 정원유산의 3차원 형상 재현 가능성 연구 - 명승 제40호 담양 소쇄원(潭陽 瀟灑園)을 대상으로 -)

  • Kim, Choong-Sik;Lee, Sang-Ha
    • Journal of the Korean Institute of Traditional Landscape Architecture
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    • v.36 no.4
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    • pp.94-104
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    • 2018
  • This study examined photogrammetric reconstruction techniques that can measure the original form of a cultural property utilizing photographs taken in the past. During the research process, photographs taken in the past as well as photograph on the internet of Soswaewon Garden in Damyang(scenic site 40) were collected and utilized. The landscaping structures of Maedae, Aiyangdan, Ogokmun Wall, and Yakjak and natural scenery Gwangseok, of which photographs can be taken from any 360 degree direction from a close distance or a far distance without any barriers in the way, were selected and tested for the possibility of reproducing three-dimensional shapes. The photography method of 151 landscape photographs (58.6%) from internet portal sites for the aforementioned five landscape subjects containing information on the date the photograph was taken, focal length, and exposure were analyzed. As a result of the analysis, it was revealed that the majority of the photographs tend to focus on important parts of each subject. In addition, we discovered that there are two or three photography methods that internet users preferred in regards to each landscape subject. For the purposes of the experiment, photographs in which a single scene consistently appears for each landscape subject and it was determined that there was a high level of preference related to the photography method were analyzed, and three-dimensional mesh shape model was produced with a photoscan program to analyze the reproducibility of three-dimensional shapes. Based on the results of the reproduction, it was relatively possible to reproduce three-dimensional shapes for artifacts such as Ogukmun wall, Maedae, and Aeyangdan, but it was impossible to reproduce three-dimensional images for natural scenery or an object that has similar texture such as Yakjak and Gwangseok. As a result of experimentation related to the reconstruction of three-dimensional shapes with the photographs taken on site using a photography method similar to that of the photographs selected as previously mentioned, there was success related to reproducing the three-dimensional shapes of Yakjak and Gwangseok, of which it was not possible to do so through the photographs that had been collected previously. In addition, through comparison of past and present images, it was possible to measure the exact sizes as well as discover any changes that have taken place. If past photographs taken by tourists or landscape architects of cultural properties can be obtained, the three-dimensional shapes from a particular period of time can be reproduced. If this technology becomes widespread, it will increase the level of accuracy and reliability in regards to measuring the past shapes of cultural landscape properties and examining any changes to the properties.

3D Point Cloud Reconstruction Technique from 2D Image Using Efficient Feature Map Extraction Network (효율적인 feature map 추출 네트워크를 이용한 2D 이미지에서의 3D 포인트 클라우드 재구축 기법)

  • Kim, Jeong-Yoon;Lee, Seung-Ho
    • Journal of IKEEE
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    • v.26 no.3
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    • pp.408-415
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    • 2022
  • In this paper, we propose a 3D point cloud reconstruction technique from 2D images using efficient feature map extraction network. The originality of the method proposed in this paper is as follows. First, we use a new feature map extraction network that is about 27% efficient than existing techniques in terms of memory. The proposed network does not reduce the size to the middle of the deep learning network, so important information required for 3D point cloud reconstruction is not lost. We solved the memory increase problem caused by the non-reduced image size by reducing the number of channels and by efficiently configuring the deep learning network to be shallow. Second, by preserving the high-resolution features of the 2D image, the accuracy can be further improved than that of the conventional technique. The feature map extracted from the non-reduced image contains more detailed information than the existing method, which can further improve the reconstruction accuracy of the 3D point cloud. Third, we use a divergence loss that does not require shooting information. The fact that not only the 2D image but also the shooting angle is required for learning, the dataset must contain detailed information and it is a disadvantage that makes it difficult to construct the dataset. In this paper, the accuracy of the reconstruction of the 3D point cloud can be increased by increasing the diversity of information through randomness without additional shooting information. In order to objectively evaluate the performance of the proposed method, using the ShapeNet dataset and using the same method as in the comparative papers, the CD value of the method proposed in this paper is 5.87, the EMD value is 5.81, and the FLOPs value is 2.9G. It was calculated. On the other hand, the lower the CD and EMD values, the better the accuracy of the reconstructed 3D point cloud approaches the original. In addition, the lower the number of FLOPs, the less memory is required for the deep learning network. Therefore, the CD, EMD, and FLOPs performance evaluation results of the proposed method showed about 27% improvement in memory and 6.3% in terms of accuracy compared to the methods in other papers, demonstrating objective performance.

A study on the production techniques and prototype of the mother-of-pearl chrysanthemum pattern box from the Goryeo Dynasty (고려 나전국화넝쿨무늬상자의 제작기법 고찰 및 원형 연구)

  • LEE Heeseung;LEE Minhye;KIM Sunghun;LEE Hyeonju
    • Korean Journal of Heritage: History & Science
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    • v.57 no.1
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    • pp.126-144
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    • 2024
  • The chrysanthemum vine pattern box from the Goryeo Dynasty expresses in great detail the representative features of Goryeo Dynasty lacquerware with mother-of-pearl, such as engraving patterns on the surface of fine mother-of-pearl, expressing vine stems using metal wires, and twisting metal wires to form the boundaries of each patterns. While the lacquerware with mother-of-pearl that remains today from the Goryeo Dynasty has the form of a sutra box and a box with lid, the chrysanthemum vine pattern box that is the subject of this study is in the shape of a box with a separate lid and body, making it difficult to estimate the purpose of production or the stored contents. In this study, we attempted to confirm the formative characteristics of the chrysanthemum vine pattern box in order to confirm its original form, and to investigate its structure and production technique through X-ray transmission. In addition, we attempted to identify the use and production purpose of the box by classifying and comparing the previously known lacquerware with mother-ofpearl from the Goryeo Dynasty by type. As a result of the investigation, fabric was confirmed the bottom of body and inner box through X-ray images. Through this, it was confirmed that the 'Mogsimjeopichilgi'(wooden core grabbing fabric technique) of wrapping the object with fabric was used. And through wood grain, it was possible to confirm the wooden board composition of the part presumed to be the restored part and the part presumed to have had existing Jangseog. In addition, it was confirmed that the joints were connected in a Majdaeim(part to part). Based on the survey results, a total of 14 pieces, including 9 Sutra boxes, 3 boxes, and 2 small boxes, that remain from the Goryeo Dynasty were classified by type and examined for similarity. Among them, there is a "Chrysanthemum Vine Pattern Sutra Box" from a private collection in Japan, a "Black Lacquered Chrysanthemum Arabesque Bun Sutra Box" from the Tokugawa Art Museum, a "Sutra Holder" from the British Museum, and a "Small Box with a Mother-of-Pearl Chrysanthemum Vine Pattern" from a private collection in Korea. The pattern composition of five points was most similar to the subject of this study. As a result of comparing the damage pattern, formative characteristics, and structural features of each part, it is presumed that the sutra holder in the British Museum was transformed into its current form from the original the chrysanthemum vine patterned box. Lastly, in order to confirm the purpose of production, that is, the use of this box, we investigated examples of Tripitaka Koreana printed version produced at a time similar to the social atmosphere of Goryeo at the time. Following the Mongol(元) invasion after the Goryeo military regime at the time, sutras appeared to pray for the stability of the nation and the soul of an individual, and with the development of domestic printing and paper in the 13th century, it gradually coincided with the transition from a scroll to a folded form, and the form of a box changed from a box. It is believed that the storage method also changed.

Re-Analysis of Clark Model Based on Drainage Structure of Basin (배수구조를 기반으로 한 Clark 모형의 재해석)

  • Park, Sang Hyun;Kim, Joo Cheol;Jeong, Dong Kug;Jung, Kwan Sue
    • KSCE Journal of Civil and Environmental Engineering Research
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    • v.33 no.6
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    • pp.2255-2265
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    • 2013
  • This study presents the width function-based Clark model. To this end, rescaled width function with distinction between hillslope and channel velocity is used as time-area curve and then it is routed through linear storage within the framework of not finite difference scheme used in original Clark model but analytical expression of linear storage routing. There are three parameters focused in this study: storage coefficient, hillslope velocity and channel velocity. SCE-UA, one of the popular global optimization methods, is applied to estimate them. The shapes of resulting IUHs from this study are evaluated in terms of the three statistical moments of hydrologic response functions: mean, variance and the third moment about the center of IUH. The correlation coefficients to the three statistical moments simulated in this study against these of observed hydrographs were estimated at 0.995 for the mean, 0.993 for the variance and 0.983 for the third moment about the center of IUH. The shape of resulting IUHs from this study give rise to satisfactory simulation results in terms of the mean and variance. But the third moment about the center of IUH tend to be overestimated. Clark model proposed in this study is superior to the one only taking into account mean and variance of IUH with respect to skewness, peak discharge and peak time of runoff hydrograph. From this result it is confirmed that the method suggested in this study is useful tool to reflect the heterogeneity of drainage path and hydrodynamic parameters. The variation of statistical moments of IUH are mainly influenced by storage coefficient and in turn the effect of channel velocity is greater than the one of hillslope velocity. Therefore storage coefficient and channel velocity are the crucial factors in shaping the form of IUH and should be considered carefully to apply Clark model proposed in this study.

FABRICATION OF MYOMUCOSAL FLAP USING CULTURED ORAL EPITHELIUM IN RABBIT MODEL (가토모델에서 배양 구강상피를 이용한 근-점막 피판의 형성에 관한 연구)

  • Shin, Young-Min;Chung, Hun-Jong;Ahn, Kang-Min;Park, Hee-Jung;Sung, Mi-Ae;Kim, Soung-Min;Hwang, Soon-Jung;Kim, Myung-Jin;Jahng, Jeong-Won;Kim, Sung-Po;Yang, Eun-Kyung;Song, Kye-Yong;Lee, Jong-Ho
    • Maxillofacial Plastic and Reconstructive Surgery
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    • v.27 no.3
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    • pp.226-237
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    • 2005
  • Purpose : Extensive defect of oral and maxillofacial area is usually reconstructed with composite flap including skin paddle. However, if the defects are lined with only skin components, the mucosa's role in mastication and texture are not restored. Furthermore, stiffness and hair-growing prevent denture rehabilitation and good oral hygiene. This study was performed to overcome the disadvantages of composite soft tissue flaps including the skin and to make a model for myo-mucosal flaps. Materials and methods : Buccal mucosa sized $0.5\times1.0\;cm^2$ from New Zealand rabbit (around 1.5kg) was harvested and cultivated by the modification of Rheinwald and Green's keratinocyte culture method. Cultured mucosa was grafted on the fascia of latismus dorsi as form of mucosal sheet. After 7, 10, 14 days, the myomucosal flap was excised and evaluated under light microscope with H & E and immunohistochemical staining. As control group, harvested buccal mucosa from rabbit was transplanted to gracilis muscle(n=6). Results : From 7 days after prelamination, the basal layer of the grafted mucosa resembled that of normal mucosa. As control group, transplanted mucosa had original shape but there's slight inflammatory reaction. Prelaminated mucosa has 19.8$\pm$4.59 cell layers and some samples have more than 20 layers. The expression rate of PCNA was relatively strong (42.9%$\pm$14.1) at the basal layer of grafted mucosa and the laminin was found at the basal layer. On the contrary, prelaminated mucosa at 10 days showed moderate expression rate of PCNA(32.4%$\pm$4.62). We found the mucosal layer was somehow disappeared and there is strong inflammatory reaction. After 14 days prelamination, the grafted oral keratinocytes were almost disappeared and expression of PCNA was not observed. Conclusion : We can make 75 fold large mucosal($3850mm^2$) sheet from small samples of mucosa $(50mm^2)$. Epithelial sheet that grafted on the fascia of muscle underwent differentiation and proliferation. But after 10, 14 days, there was strong inflammatory reaction and the grafted mucosa was destroyed from surface layer. In rabbit model, transfer of fascio-mucosal flap should be done from 7 to 10 days after prelamination.

A Study on the Problem of Organic Image in the 20th Post-paintings (20세기 후기회화에 있어서 유기 이미지의 문제)

  • Park Ji-Sook
    • Journal of Science of Art and Design
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    • v.3
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    • pp.145-177
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    • 2001
  • The artist's interest has been captivated by ecological phenomena in Nature. Her keen captivation has then been focused into plastic art depicting the image of primitive life. The wide sweep of her work encompasses the totality of nature which consists of the human's subconscious power and imagination which she then portrays by organic images. These organic images are in contrast to scientific, mathematical and logical inference and consciousness. This research examines the character of the organic images in modern art by her analysis of some representative works by others. The image is an essential concept in the art which appeared in very different ways and in different perspectives. The image in the artwork appears to be the realistic expression until the early part of the 20th Century. Well into the 20th Century, it began being expressed in various ways such as combined images by imagination which is combined or rejected in the story of artwork. It also began being expressed by transferred images by changed original conditions. It is the main purpose of this research is to study of various expressions of organic images in the artwork of the Post-Modernism era. The character and meaning of organic image painting helps people to approach the human instinct more easily to find out the natural essence. It is also an objective of the organic image to tenderise our human sensibilities, thus helping us to regain vitality and recover our poor humanity in the barren wilderness of modern society. 'Life communion with nature' is a meeting point and common ground for Oriental Philosophy and organic image painting. Through this research, organic image painting is characterised in the four following ways : 1st) Organic image painting seeks regularity and perfection of outer shapes, in contrast to disordered and deformed nature, resulting in organic and biotic formalistic mode of plastic art. 2nd) Organic image painting seeks the formative. 3rd) Organic image painting pursues the priceless dignity of life by researching the formatted arrangement and figure, which contains primitive power of life. 4th) Organic image painting makes crystal clear the power of human and nature, which is a historic and biological phenomenon. This, in turn, exposes the humanistic view of the world from modern society best characterised in lost self-understanding, isolation and materialism. The representative organic image painting artists are Elizabeth Murray, Kusama Yayoi, and Niki do Saint Phalle. Elizabeth Murray used shaped canvas and a round construction of relief works. Kusama Yayoi used Automatistic expressionism originating from the realms of unconsciousness and which is represented by the mass and shape of a water drop. Niki do Saint Phalle shows the transcendence of universal life and anti-life to respect the dignity of life and the eco-friendliness relationship of human and nature in the post-modernism in art history. This is accomplished by surrealistic, symbolic, fantastic and humoristic expression. These three artists' works express the spirit of the organic image in contemporary art. It contains the stream of nature and life to seek not only the state of materialism in the reality, but also the harmonized world of nature and human which has almost lost the important meaning in modern times. Finally, this organic image is the plastic language of the majestic life. It is the romantic idea that the intimacy of nature and the universe and Surrealism, which emphasizes the unconsciousness , is the source of truth and spirit. Also it is influenced by primitive art and abstract art. According to this research, the subject 'Research About Organic Images' is not only an important element in the plastic arts from primitive society to the present, but is also fundamental to an true understanding of Post-Modernism.

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Characteristics of Korean Fish Fermentation Technology (우리나라 수산발효기술의 특색)

  • Lee, Cherl-Ho;Lee, Eung-Ho;Lim, Moo-Hyun;Kim, Soo-Hyun;Chae, Soo-Kyu;Lee, Keun-Woo;Koh, Kyung-Hee
    • Journal of the Korean Society of Food Culture
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    • v.1 no.3
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    • pp.267-278
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    • 1986
  • The evolution of Korean fish fermentation technology was reviewed from the old literatures and the on-going processes were surveyed. The principles involved in the traditional fermentation methods were explained by the recent scientific findings. The fish fermentation technology be classified into two groups; jeot-kal process, where. salt is the only material added to the fish for fermentation, and sik-hae process, where cooked cereals, garlic and red pepper powder are added to the salted fish. A total of 46 kinds of jeot-kal was identified in a survey, depending on the raw materials used. The characteristic feature of Korean jeot-kal process is to produce fermented products which still has original shape after 2-3 months of fermentation to be used for side-dishes of rice meal, as well as fish sauce by keeping these products for longer time (over 6 months) for severe ansymematic hydrolysis to be used for the subingredient of Kimchi (Korean fermented vegetable food). The taste of jeot-kal is formed by the protein hydrolymates due to the action of salt-tolerant Pediococcus, Bacillus, Halobacterlum etc. When the taste of jeot-kal deteriorates, yeasts appear to dominate. In ski-hae fermentation, the safety of preserved fish is kept by the rapid decrease in pH resulting from the acid fermentation of added cereals. The roles of cid forming bacteria and proteloytic bacteria are important. The fermentation is completed in 2 weeks and the excess production of acid during prolonged storage limits the taste acceptability. The fish fermentation technology in Korea stands at important position in Korean food science and technology. since the processes of jeot-kal and soysauce have same root in the principle of microbial proteolysis and the processes of sik-hae and Kimchi in the microbial acid production principles.

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A Study on Geology of Clay Mineral Deposits of Pohang-Ulsan Area and their Physico-Chemical Properties (포항-울산간의 점토자원의 지질과 그 물리화학적 특성에 관한 연구)

  • Kim, Ok Joon;Lee, Ha Young;Kim, Suh Woon;Kim, Soo Jin
    • Economic and Environmental Geology
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    • v.4 no.4
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    • pp.167-215
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    • 1971
  • I. Purpose and Importance of the Study The purpose of the present study is to clarify to geological, mineralogical, and physico-chemical properties of the clay minerals deposits imbedded in the Tertiary sediments in the areas between. Pohang and Ulsan along southeastern coastal region of Korea. These clays are being mined and utilized for filter and insecticide after activation or simple pulverizing, nontheless activated clays are short coming as chemical industry in Korea has been rapidly grown in recent years. In spite of such increase in clay demand, no goological investigation on clay deposits nor physico-chemical properties of the clays have been carried out up to date. Consequently activated clays produced in Korea is not only of low grade but also of shortage in supply, so that Korea has to import activated clays of better grade. The importance of the present study lies, therefore, on that guiding principle could be laid down by knowing stratigraphical horizons, of clay deposits and fundamental data of improving grade of activated clays might be derived from the results of physico-chemical examinations. II. Contents and Scope of the study The contents of the study are pinpointed down in the following two subjects: 1) General geological investigation of Tertiary formations distributed in the areas between Pohang and UIsan, and detail geological study of the bentonitic clay deposits imbedded in them. 2) To clarifty physico-chemical characteristics of the clays by means of chemical analysis, X-ray diffraction and electron microscope. The scope of the study involves the following there points: i) Regional geological investigation-This investigation has been carried out in order to find out the distribution of Tertiary sediments and exact location of clay mineral deposits in the areas between Pohang and UIsan. ii) Detail geological investigation-This has been concentrated in and around the clay deposits which. had been found out by the regional investigation. iii) Laboratory researchs include i) age determination and correlation of Tertiary sediments by paleontological study, and ii) Chemical analysis, X-ray diffraction, and electron microscopic studies on clays, samples taken from various clay deposits. III. Research Results and Suggestions 1) The geology of the area investigated is composed mainly of Janggi and Beomgokri groups of Miocene age in ascending order rested on the upper Silla system, Balkuksa granite and volcanic rocks of upper Cretaceous age as base. 2) Janggi group is composed in ascending order of Janggi conglomerate, Nultaeri rhyolitic tuff, Keumkwangdong shale, two beds of lignite-bearing formations which consist of alternation of conglomerate, sandstone and mudstone, and andesitic, rhyolitic, and basaltic tuff beds. 3) Beomgokri group is mainly composed of andesitic to rhyolitic tuff interlayered by conglomerate and tuffaceous sandstone. In the areas around boundary between North-and South Kyeongsang-do is distributed Haseori farmation which is composed of conglomerate, sandstone, mudstone and andesitic to rhyolitic tuff, and which is correlated to Eoilri formation of Janggi group. 4) Clay deposits of the area are interbedded in Eoilri, Haseori, Nultaeri tuff, Keumkwangdong shale, upper and lower horizon of the lower lignite-bearing seam, and Keumori rhyolitic tuff formations of Janggi group; and are genetically classi.fied into four categories, that is, i) those derived from volcanic ash beds(Haseori and Daeanri deposits), ii) those of secondary residual type from rhyolitic tuff beds(Seokupri deposits), iii) Clay beds above and beneath the lignite seams, (Janggi and Keumkwangdong deposits), and iv) those derived from rhyolitic tuff beds(Sangjeong and Tonghae deposits). 5) Mineral constituents of clay deposits are, according to X-ray diffraction, montmorillonite accompanied in different degree by cristobalite, plagioclase, quartz, stilbite, and halloysite in rare occasion. The clays are grouped according to mineral composition into four types; i) those consist mostly of montmorillonite, ii) those composed of montmorillonite and cristobalite, iii) those composed of montmorillonite and plagioclase, and iv) those composed of montmorillonite, plagioclase and quartz. 6) Clays interbedded in Haseori formation and vicinity of lignite seams belong to the first type, are of good quality and derived either from volcanic ash bed, or primary clay beds near lignite seams. Clays belonged to other types are derived from weathering of rhyolitic tuff formations and their quality varies depending upon original composition and degree of weathering. Few clays in secondary residual type contain small amount of halloysite. 7) Judging from analytical data, content of silica($SiO_2$) varies proportionally with content of cristobalite, and alumina($Al_2O_3$) content does not vary with that of plagioclase, but increases in the sedimentary bedded type of deposits. 8) It is unknown whether or not these days could be upgraded by beneficiation since no grain size of these impurities nor beneficiation test had been studied. 9) Clay beds derived from valcanic ash layers or sedimentary layers at the vicinity of lignite seams are thin in thickness and of small, discontinueous lenticular shape, although they are of good quality; and those derived from rhyolitic tuff formations or residual type from tuff are irregular in both occurrence and quality. It is, therefore, not only very difficult but also meaningless to calculate its reserve, and reserve estimation, even if done, will greatly be deviated from practically minable one. Consequently, way of discovery and exploitation of clay deposits in the area under consideration is to check the geologically favorable areas whenever needed.

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The Prediction of DEA based Efficiency Rating for Venture Business Using Multi-class SVM (다분류 SVM을 이용한 DEA기반 벤처기업 효율성등급 예측모형)

  • Park, Ji-Young;Hong, Tae-Ho
    • Asia pacific journal of information systems
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    • v.19 no.2
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    • pp.139-155
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    • 2009
  • For the last few decades, many studies have tried to explore and unveil venture companies' success factors and unique features in order to identify the sources of such companies' competitive advantages over their rivals. Such venture companies have shown tendency to give high returns for investors generally making the best use of information technology. For this reason, many venture companies are keen on attracting avid investors' attention. Investors generally make their investment decisions by carefully examining the evaluation criteria of the alternatives. To them, credit rating information provided by international rating agencies, such as Standard and Poor's, Moody's and Fitch is crucial source as to such pivotal concerns as companies stability, growth, and risk status. But these types of information are generated only for the companies issuing corporate bonds, not venture companies. Therefore, this study proposes a method for evaluating venture businesses by presenting our recent empirical results using financial data of Korean venture companies listed on KOSDAQ in Korea exchange. In addition, this paper used multi-class SVM for the prediction of DEA-based efficiency rating for venture businesses, which was derived from our proposed method. Our approach sheds light on ways to locate efficient companies generating high level of profits. Above all, in determining effective ways to evaluate a venture firm's efficiency, it is important to understand the major contributing factors of such efficiency. Therefore, this paper is constructed on the basis of following two ideas to classify which companies are more efficient venture companies: i) making DEA based multi-class rating for sample companies and ii) developing multi-class SVM-based efficiency prediction model for classifying all companies. First, the Data Envelopment Analysis(DEA) is a non-parametric multiple input-output efficiency technique that measures the relative efficiency of decision making units(DMUs) using a linear programming based model. It is non-parametric because it requires no assumption on the shape or parameters of the underlying production function. DEA has been already widely applied for evaluating the relative efficiency of DMUs. Recently, a number of DEA based studies have evaluated the efficiency of various types of companies, such as internet companies and venture companies. It has been also applied to corporate credit ratings. In this study we utilized DEA for sorting venture companies by efficiency based ratings. The Support Vector Machine(SVM), on the other hand, is a popular technique for solving data classification problems. In this paper, we employed SVM to classify the efficiency ratings in IT venture companies according to the results of DEA. The SVM method was first developed by Vapnik (1995). As one of many machine learning techniques, SVM is based on a statistical theory. Thus far, the method has shown good performances especially in generalizing capacity in classification tasks, resulting in numerous applications in many areas of business, SVM is basically the algorithm that finds the maximum margin hyperplane, which is the maximum separation between classes. According to this method, support vectors are the closest to the maximum margin hyperplane. If it is impossible to classify, we can use the kernel function. In the case of nonlinear class boundaries, we can transform the inputs into a high-dimensional feature space, This is the original input space and is mapped into a high-dimensional dot-product space. Many studies applied SVM to the prediction of bankruptcy, the forecast a financial time series, and the problem of estimating credit rating, In this study we employed SVM for developing data mining-based efficiency prediction model. We used the Gaussian radial function as a kernel function of SVM. In multi-class SVM, we adopted one-against-one approach between binary classification method and two all-together methods, proposed by Weston and Watkins(1999) and Crammer and Singer(2000), respectively. In this research, we used corporate information of 154 companies listed on KOSDAQ market in Korea exchange. We obtained companies' financial information of 2005 from the KIS(Korea Information Service, Inc.). Using this data, we made multi-class rating with DEA efficiency and built multi-class prediction model based data mining. Among three manners of multi-classification, the hit ratio of the Weston and Watkins method is the best in the test data set. In multi classification problems as efficiency ratings of venture business, it is very useful for investors to know the class with errors, one class difference, when it is difficult to find out the accurate class in the actual market. So we presented accuracy results within 1-class errors, and the Weston and Watkins method showed 85.7% accuracy in our test samples. We conclude that the DEA based multi-class approach in venture business generates more information than the binary classification problem, notwithstanding its efficiency level. We believe this model can help investors in decision making as it provides a reliably tool to evaluate venture companies in the financial domain. For the future research, we perceive the need to enhance such areas as the variable selection process, the parameter selection of kernel function, the generalization, and the sample size of multi-class.