• Title/Summary/Keyword: Performance-based

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Smart Beta Strategies based on the Quality Indices (퀄리티 지수를 이용한 스마트 베타 전략)

  • Ohk, Ki Yool;Lee, Minkyu
    • Management & Information Systems Review
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    • v.37 no.4
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    • pp.63-74
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    • 2018
  • Recently, in the asset management industry, the smart beta strategy, which has an intermediate nature between passive and active strategies, is attracting attention. In this smart beta strategy, value, momentum, low volatility, and quality index are widely used. In this study, we analyzed the quality index which is not clear and complicated to calculate. According to the MSCI methodology, the quality index was calculated using three variables: return on equity, debt to equity, and earnings variability. In addition, we use the index using only return on equity variable, the index using only two variables of return on equity and debt to equity, and the KOSPI index as comparison targets for the quality index. In order to evaluate the performance of the indices used in the analysis, the arithmetic mean return, the coefficient of variation, and the geometric mean return were used. In addition, Fama and French (1993) model, which is widely used in related studies, was used as a pricing model to test whether abnormal returns in each index are occurring. The results of the empirical analysis are as follows. First, in all period analysis, quality index was the best in terms of holding period returns. Second, the quality index performed best in the currency crisis and the global financial crisis. Third, abnormal returns were not found in all indices before the global financial crisis. Fourth, in the period after the global financial crisis, the quality index has the highest abnormal return.

An Empirical Study of Soundproof wall with Reduced Wind Load (풍하중 저감형 방음판의 실증 연구)

  • Choi, Jin-Gyu;Lee, Chan-Young
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.19 no.12
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    • pp.272-278
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    • 2018
  • Traffic volume has been greatly increasing due to urban development and the improvement of living standards, and many complaints are being raised due to the increasing road noise. As a countermeasure against these problems, highly soundproof walls are installed on the sides of roads. However, the ability to bear wind loads is a major design requirement for soundproof walls, which contributes to the exponential increases in construction costs and restricts the height of the walls. The aim of this study is to improve the performance of soundproof walls and to dramatically reduce wind loads while maintaining excellent price competitiveness. Based on Helmholz's resonator theory, a new concept is proposed for a ventilation-type soundproofing plate that can pass through a fluid like air and reduce noise. A full-scale metal soundproofing plate was produced to satisfy the quality standards of highways by conducting a sound-pressure transmission-loss test, wind tunnel test, and material quality test. To verify the reliability, the wall was manufactured and installed, and the sound insulation effect was examined by measuring the noise over time. In the future, ventilated soundproof walls on roads could create a pleasant living environment due to the high noise-insulation effect.

Effective Text Question Analysis for Goal-oriented Dialogue (목적 지향 대화를 위한 효율적 질의 의도 분석에 관한 연구)

  • Kim, Hakdong;Go, Myunghyun;Lim, Heonyeong;Lee, Yurim;Jee, Minkyu;Kim, Wonil
    • Journal of Broadcast Engineering
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    • v.24 no.1
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    • pp.48-57
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    • 2019
  • The purpose of this study is to understand the intention of the inquirer from the single text type question in Goal-oriented dialogue. Goal-Oriented Dialogue system means a dialogue system that satisfies the user's specific needs via text or voice. The intention analysis process is a step of analysing the user's intention of inquiry prior to the answer generation, and has a great influence on the performance of the entire Goal-Oriented Dialogue system. The proposed model was used for a daily chemical products domain and Korean text data related to the domain was used. The analysis is divided into a speech-act which means independent on a specific field concept-sequence and which means depend on a specific field. We propose a classification method using the word embedding model and the CNN as a method for analyzing speech-act and concept-sequence. The semantic information of the word is abstracted through the word embedding model, and concept-sequence and speech-act classification are performed through the CNN based on the semantic information of the abstract word.

A study of Curved Dosimeter for Flattening Filter Free Beam Quality Assurance Evaluation using Curved Dosimeter in Radiotherapy (Flattening Filter Free Beam의 정도관리를 위한 곡면선량계 가능성 연구)

  • Han, Moojae;Shin, Yohan;Jung, Jaehoon;Heo, Seunguk;Kim, Kyotae;Heo, Yeji;Cho, Heunglae;Park, Sungkwang
    • Journal of the Korean Society of Radiology
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    • v.13 no.1
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    • pp.119-124
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    • 2019
  • Radiation therapy using flattening filter free beam can prevent beam attenuation caused by flattening filter and can improve treatment efficiency. However, accurate dose control is not established for nonuniform iso dose distributions. In this study, curved dosimeter based on photoconductive material $HgI_2$ was fabricated and its reproducibility and linearity were evaluated at 6 MV photon energy to verify its performance. In order to show the usefulness of the curved measurement, the signals measured on the flat substrate and the curved substrate were compared in the flattening filter free beam using the acrylic filter. As a result, the reproducibility of the unit cell dosimeter was evaluated as SE 0.613%, and the linearity was evaluated as R-sq 0.9999. The usability evaluation of the array curve dosimeter demonstrated its usefulness by indicating a curvature error rate of 11.073%p and a reduced error rate.

A Method for Effective Homography Estimation Applying a Depth Image-Based Filter (깊이 영상 기반 필터를 적용한 효과적인 호모그래피 추정 방법)

  • Joo, Yong-Joon;Hong, Myung-Duk;Yoon, Ui-Nyoung;Go, Seung-Hyun;Jo, Geun-Sik
    • KIPS Transactions on Software and Data Engineering
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    • v.8 no.2
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    • pp.61-66
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    • 2019
  • Augmented reality is a technology that makes a virtual object appear as if it exists in reality by composing a virtual object in real time with the image captured by the camera. In order to augment the virtual object on the object existing in reality, the homography of images utilized to estimate the position and orientation of the object. The homography can be estimated by applying the RANSAC algorithm to the feature points of the images. But the homography estimation method using the RANSAC algorithm has a problem that accurate homography can not be estimated when there are many feature points in the background. In this paper, we propose a method to filter feature points of a background when the object is near and the background is relatively far away. First, we classified the depth image into relatively near region and a distant region using the Otsu's method and improve homography estimation performance by filtering feature points on the relatively distant area. As a result of experiment, processing time is shortened 71.7% compared to a conventional homography estimation method, and the number of iterations of the RANSAC algorithm was reduced 69.4%, and Inlier rate was increased 16.9%.

Antibacterial and Antibiofilm Activities of Diospyros malabarica Stem Extract against Streptococcus mutans (Streptococcus mutans에 대한 인도감나무 줄기 추출물의 항균활성 및 생물막 형성 억제 효과)

  • Kim, Hye Soo;Lee, Sang Woo;Sydara, Kongmany;Cho, Soo Jeong
    • Journal of Life Science
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    • v.29 no.1
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    • pp.90-96
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    • 2019
  • The objective of this study was to evaluate the potential of Diospyros malabarica stem extract, a natural materials, in oral health material. With this aim in mind, thin layer chromatography (TLC), TLC-bioautography, high-performance liquid chromatography (HPLC), electrospray ionization-mass spectrometry (ESI-MS), scanning electron microscopy (SEM), and real-time qPCR were performed. The antibacterial activity of D. malabarica stem extract against Streptococcus mutans KCTC3065 was confirmed in an n-hexane fraction with low polarity. The molecular weight of the antibacterial compound was estimated to be 188 by ESI-MS analysis. The inhibitory effects of the extract on biofilm formation and gene expression related to biofilm formation of S. mutans were determined by SEM and real-time PCR analysis. The extract inhibited the formation of S. mutans biofilms at D. malabarica stem extract concentrations of 1 mg/ml, as shown by SEM. The real-time PCR analysis showed that the expression of the gtfC gene, which is associated with biofilm formation, was significantly decreased in a dose-dependent manner. Based on the above results, it can be concluded that D. malabarica stem extracts, a natural materials, can be used in oral health products to suppress the formation of biofilms by inhibiting tooth adhesion of S. mutans, a causative agent of dental caries.

Fabrication and Evaluation of Heat Transfer Property of 50 Watts Rated LED Array Module Using Chip-on-board Type Ceramic-metal Hybrid Substrate (Chip-on-board 형 세라믹-메탈 하이브리드 기판을 적용한 50와트급 LED 어레이 모듈의 제조 및 방열특성 평가)

  • Heo, Yu Jin;Kim, Hyo Tae
    • Journal of the Microelectronics and Packaging Society
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    • v.25 no.4
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    • pp.149-154
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    • 2018
  • This paper describes the fabrication and heat transfer property of 50 watts rated LED array module where multiple chips are mounted on chip-on-board type ceramic-metal hybrid substrate with high heat dissipation property for high power street and anti-explosive lighting system. The high heat transfer ceramic-metal hybrid substrate was fabricated by conformal coating of thick film glass-ceramic and silver pastes to form insulation and conductor layers, using thick film screen printing method on top of the high thermal conductivity aluminum alloy heat-spreading panel, then co-fired at $515^{\circ}C$. A comparative LED array module with the same configuration using epoxy resin based FR-4 PCB with thermalvia type was also fabricated, then the thermal properties were measured with multichannel temperature sensors and thermal resistance measuring system. As a result, the thermal resistance of the ceramic-metal hybrid substrate in the $4{\times}9$ type LEDs array module exhibited about one third to the value as that of FR-4 substrate, implying that at least triple performance of heat transfer property as that of FR-4 substrate was realized.

Evaluation of Strength and Durability of Casein-cemented Sand (카제인으로 고결된 모래의 강도 및 내구성 평가)

  • Park, Sung-Sik;Woo, Seong-Wook
    • Journal of the Korean Geotechnical Society
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    • v.35 no.1
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    • pp.31-42
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    • 2019
  • About 3% of Casein is included in milk and it accounts for 80% of milk's protein. It has an adhesive property when mixed with calcium hydroxide and sodium hydroxide solutions. It has been usually used to bond woods under dry condition but becomes weak when exposed to moisture. Such weakness is very critical when casein is applied for soil cementation under groundwater condition. Therefore, this study was aimed to protect such weakness by changing or adding certain ingredients of casein adhesive. Two types of cemented specimens were prepared with Nakdong river sand and tested for unconfined compressive strength and durability. Each specimen was mixed with casein or cement. Ingredients of casein binder suggested by the University of Wisconsin, which is called a standard casein recipe, was also prepared. This study tried 6 different types of casein binder recipe. Among them, one with 30% hydroxide calcium increase and 50% hydroxide sodium decrease compared with the standard casein was most effective. Based on the most effective casein recipe, cemented sand with 1-4% of casein ratio was prepared and tested. The unconfined compressive strength and durability index were 6,253kPa and 92% for the specimen with 4% of casein ratio and 1,500kPa and 62% for the one with 8% of cement ratio. Therefore, casein cemented sand showed better performance. In addition, over 3% of casein cemented sand had over 80% durability index.

CO and Soot Yields of Wood Combustibles for a Kitchen Fire Simulation (주방 화재시뮬레이션을 위한 목재 가연물의 CO 및 Soot Yields)

  • Mun, Sun-Yeo;Hwang, Cheol-Hong;Kim, Sung-Chan
    • Fire Science and Engineering
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    • v.33 no.1
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    • pp.76-84
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    • 2019
  • Experimental studies using an open cone calorimeter were conducted to provide information on the CO and soot yields of wood combustibles required for a kitchen fire simulation of PBD. A total of eight specimens were examined for medium density fiberboard (MDF) and particle board (PB), which are used widely in kitchen furniture production, depending on the water content, surface processing method, and surface color. The thermal penetration time related to the fire spread rate in the depth direction differed significantly according to the surface processing treatment method, even for a specimen of identical thickness. The CO yield ($y_{CO}$) of the MDF and PB series did not change significantly according to the combustion mode and surface treatment process in flaming mode. On the other hand, $y_{CO}$ was approximately 10 times higher in smoldering mode than in flaming mode. The soot yield ($y_{soot}$), however, varied considerably depending on the combustion mode and surface treatment process. In particular, a higher $y_{soot}$ was found in flaming mode and in the surface-treated specimens. Finally, the $y_{CO}$ and $y_{soot}$ of MDF and PB measured for the kitchen fire simulation of PBD were applied.

The Status of Personal Information Protection for Original Text Information Disclosure Service (원문정보공개 서비스에서의 개인정보 보호 실태)

  • Ahn, Hye-mi
    • Journal of Korean Society of Archives and Records Management
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    • v.19 no.2
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    • pp.147-172
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    • 2019
  • With the provision of the original text information disclosure service, the time spent on determining the disclosure of the original text information decreased, and the number of original text information disclosure significantly increased. In public institutions, the risk of the exposure of personal information also increased. In this study, the status of personal information protection in the original text information disclosure service was investigated. Moreover, the causes of the exposure of personal information were analyzed, and improvements were proposed. The survey presented the following results. First, 13% of the original text information collected contains personal information, which is the nondisclosure information. Second, among the original text information that includes personal information, the original text information, including the personal information of the public official, was the most important. In particular, many records about vacation and medical leaves were found. Third, there were many cases in which information about the individual of the representative was exposed in the agency that deals mainly with the contract work. Fourth, a large volume of personal information was not detected by filtering personal information. Upon analyzing the cause of the exposure of personal information, the following improvements are suggested. First, privacy guidelines should be redesigned. Second, the person in charge of the task of deciding whether or not to disclose original text information should be trained further. Third, the excessive disclosure of information based on the government's quantitative performance should be eased. Fourth, the filtering function of the personal information of the original text information disclosure system should be improved.