• The Korean Journal of Financial Management
• /
• v.25 no.3
• /
• pp.1-32
• /
• 2008

This study examines the changes and determinants of cash to assets ratios(cash ratios) by analyzing 14,016 Korean manufacturing firms sample for the period of $1999{\sim}2004$. The major findings can be summarized as follows. First, the average cash ratios for Korean manufacturing firms have increased from 4.7 percent of 1999 to 5.2 percent of 2004. In addition, the average cash holdings per firm also have increased from 4.3 billion Won to 8.0 billion Won during the same period. However, the capital expenditures relative to cash ratios or operating cash flow have decreased significantly, confirming the notion that physical investment of Korean manufacturing sector has been shrinking recently. Second, in regression tests with panel data, the coefficients of target adjustment variables show the expected negative signs, but coefficients of the deficit of fund variables show the unexpected positive signs. Thus, the evidence seems to be supportive of static tradeoff model of cash holdings. Third, in regression tests to find the determinants of cash ratios, most of the variables show similar results as the previous studies. However, in terms of adjusted coefficient of determination and F-statistic, the firm-characteristic variables suggested by static trade-off theory have more explanatory power than the variables suggested by pecking order theory.

• Korean Chemical Engineering Research
• /
• v.50 no.2
• /
• pp.358-364
• /
• 2012

The kinetics of the Fischer-Tropsch synthesis and water gas shift reactions over a precipitated iron catalyst were studied in a 5 channel fixed-bed reactor. Experimental conditions were changed as follows: synthesis gas $H_2$/CO feed ratios of 0.5~2, reactants flow rate of 60~80 ml/min, and reaction temperature of $255{\sim}275^{\circ}C$ at a constant pressure of 1.5 MPa. The reaction rate of Fischer-Tropsch synthesis was calculated from Eley-Rideal mechanism in which the rate-determining step was the formation of the monomer species (methylene) by hydrogenation of associatively adsorbed CO. Whereas water gas shift reaction rate was determined by the formation of a formate intermediate species as the rate-determining step. As a result, the reaction rates of Fischer-Tropsch synthesis for the hydrocarbon formation and water gas shift for the $CO_2$ production were in good agreement with the experimental values, respectively. Therefore, the reaction rates ($r_{FT}$, $r_{WGS}$, $-r_{CO}$) derived from the reaction mechanisms showed good agreement both with experimental values and with some kinetic models from literature.

• Korean Chemical Engineering Research
• /
• v.43 no.2
• /
• pp.286-293
• /
• 2005

An interpretation on the solid circulation characteristics in a fluidized-bed process has been carried out as a first step to simulate the dry entrained-bed absorption and bubbling-bed regeneration system for $CO_2$ removal from flue gas. A particle population balance has been developed to determine the solid flow rates and particle size distributions in the process. Effects of principal process parameters have been discussed in a laboratory scale process (absorption column: 25 mm i.d., 6 m in height; regeneration column: 0.1 m i.d., 1.2 m in height). The particle size distributions in absorption and regeneration columns were nearly the same. As gas velocity or static bed height in the absorption column increased, soild circulation rate and feed rate of fresh sorbent increased, however, mean particle diameter decreased in the absorption column. As cut diameter of the cyclone of the absorption column increased, solid circulation rate decreased, whereas feed rate of fresh sorbent and mean particle diameter in the absorption column increased. As attrition coefficient of sorbent particle increased, solid circulation rate and feed rate of fresh sorbent increased but mean particle diameter in the absorption column decreased.

• Journal of the Korean Geographical Society
• /
• v.39 no.6 s.105
• /
• pp.955-970
• /
• 2004

With the flow of globalization, world aviation markets are showing growing trends toward liberalization, deregulation, and privatization. At the same time, also apparent is a strong trend toward regionalism on aviation markets to realize open skies at the regional level. This research examines the recent trend of regionalism in the world aviation market from a political economic perspective, taking a single European aviation market as an example. The results show that the creation of a single European aviation market is the EU's strategic response against the US to enhance the European aviation industry's competitiveness. More specifically, the results show that the European countries are creating a single European aviation market in order to stand against the US' so-called 'divide and nile policy' and 'encirclement strategy' and to make their airliners to have competitive advantages over the US airliners on the lucrative North-Atlantic air routes. Recently, the single European aviation market is expanding by including the Mediterranean and Balkan states to pursue Pan European aviation cooperation and to develop European Common Aviation Area so that it can continuously enhance its negotiating leverage against external markets. The results imply that it is urgent for the Northeast Asian countries to create their own regional aviation bloc to develop their aviation industry and to increase their negotiating power against external countries.

• Journal of the Korean Institute of Intelligent Systems
• /
• v.13 no.3
• /
• pp.322-327
• /
• 2003

The water level of a steam generator of pressurized light water nuclear Power generator is known as a subject whose control is difficult because of a shrinking and swelling effect that is been mutually contradictory in a variation of feed water. In this paper, a neural network model selects first coordinative controller by a inappropriate gain of two PI controllers and the selected controller＇s gain is tuned by a fuzzy self-tuner. Model inputs consist of the water level, the feed water, and the stream flow. One controller of both coupling controllers whose gain is handled firstly is decided based upon above data. The proposed method can analyze patterns of signals using the characteristic of neural networks and select one controller that needs to be tuned through the observed result in this paper. If one controller between both the water level controller and the feed water controller is selected by the neural network model then a gain of the PI controller is suitably tuned by the fuzzy self-tuner. Rules of the fuzzy self-tuner drew from the pattern of input and output data. In the summary, the goal of this Paper is to select the suitable controller and tune the control gain of the selected controller suitably through such two processes.

• Korean Chemical Engineering Research
• /
• v.46 no.5
• /
• pp.1002-1007
• /
• 2008

The purpose of this paper studied the optimal hydrogen production condition of plasma reforming system to operate the PEMFC. Plasma reforming reactor used with Ni catalyst reactor at the same time, So $H_2$ concentration increased. Also the WGS and PrOx reactor were designed to remove CO concentration under 10 ppm, because CO has effect on catalyst poisoning of PEMFC. The maximum $H_2$ production condition in plasma reforming system was S/C ratio 3.2, $CH_4$ flow rate 2.0 L/min, catalytic reactor temperature $700{\pm}5^{\circ}C$ and input power 900 W. At this time, the concentration of produced syngas was $H_2$ 70.2%, CO 7.5%, $CO_2$ 16.2%,$CH_4$ 1.8%. The hydrogen yield, hydrogen selectivity and $CH_4$ conversion rate were 56.8%, 38.1% and 92.2% respectively. The energy efficiency and specific energy requirement were 37.0%, 183.6 kJ/mol. In additional, The experiment of $CO_2/CH_4$ ratio proceeded. Also WGS reactor experiment was proceeding on optimum condition of plasma reactor and the exit concentration were $H_2$ 68%, CO 337 ppm, $CO_2$ 24.0%, $CH_4$ 2.2%, $C_2H_4$ 0.4%, $C_2H_6$ 4.1%. At this time, experiment result of PrOx reactor were $H_2$ 51.9%, CO 0%, $CO_2$ 17.3%.

• Wind and Structures
• /
• v.30 no.4
• /
• pp.433-450
• /
• 2020

The strong turbulence characteristic of typhoon not only will significantly change flow field characteristics surrounding the large-scale wind turbine and aerodynamic force distribution on surface, but also may cause morphological evolution of coast dune and thereby form sand storms. A 5MW horizontal-axis wind turbine in a wind power plant of southeastern coastal areas in China was chosen to investigate the distribution law of additional loads caused by wind-sand coupling movement of coast dune at landing of strong typhoons. Firstly, a mesoscale Weather Research and Forecasting (WRF) mode was introduced in for high spatial resolution simulation of typhoon "Megi". Wind speed profile on the boundary layer of typhoon was gained through fitting based on nonlinear least squares and then it was integrated into the user-defined function (UDF) as an entry condition of small-scaled CFD numerical simulation. On this basis, a synchronous iterative modeling of wind field and sand particle combination was carried out by using a continuous phase and discrete phase. Influencing laws of typhoon and normal wind on moving characteristics of sand particles, equivalent pressure distribution mode of structural surface and characteristics of lift resistance coefficient were compared. Results demonstrated that: Compared with normal wind, mesoscale typhoon intensifies the 3D aerodynamic distribution mode on structural surface of wind turbine significantly. Different from wind loads, sand loads mainly impact on 30° ranges at two sides of the lower windward region on the tower. The ratio between sand loads and wind load reaches 3.937% and the maximum sand pressure coefficient is 0.09. The coupling impact effect of strong typhoon and large sand particles is more significant, in which the resistance coefficient of tower is increased by 9.80% to the maximum extent. The maximum resistance coefficient in typhoon field is 13.79% higher than that in the normal wind field.

• Proceedings of the Safety Management and Science Conference
• /
• 1999.11a
• /
• pp.543-563
• /
• 1999

For hazardous air pollutants(HAP) such as NO and $NO_2$ decomposition efficiency, power consumption, and applied voltage were investigated by SPCP(surface induced discharge plasma chemical processing) reactor to obtain optimum process variables and maximum decomposition efficiencies. Decomposition efficiency of HAP with various electric frequencies(5~50 kHz), flow rates(100~1,000 mL/min) initial concentrations(100~1,000 ppm), electrode materials(W, Cu, Al), electrode thickness(1, 2, 3 mm) and number of electrode windings(7, 9, 11) were measured. Experimental results showed that for the frequency of 10 kHz, the highest decomposition efficiency of 94.3% for NO and 84.7% for $NO_2$ were observed at the poser consumptions of 19.8 and 29W respectively and that decomposition efficiency decreased with increasing frequency above 20 kHz. Decomposition efficiency was increased with increasing residence times and with decreasing initial concentration of pollutants. Decomposition efficiency was increased with increasing thickness of discharge electrode and the highest decomposition efficiency was obtained for the electrode diameter of 3mm in this experiment. As the electrode material, decomposition efficiency was in order : tungsten(W), copper(Cu), aluminum(Al).

• Journal of the Korean Society of Propulsion Engineers
• /
• v.19 no.2
• /
• pp.65-72
• /
• 2015

Performance tests of a turbopump for the developing 7-tonf liquid rocket engine were conducted. The performance of turbopump components and their power matching were measured and examined firstly under the LN2 and water environment. In the real propellant(LOX and kerosene) environment tests, design and off-design performances of turbopump were fully verified. During the off-design tests, turbopump running time was set the same as engine operating time and pump inlet pressure were set lower than nominal operating value in order to investigate pump suction capability. It have been verified that subject turbopump satisfies required performance - flow rate, head, suction performance and operational time - in the operating regime of developing liquid rocket engine.

• Food Science and Preservation
• /
• v.13 no.5
• /
• pp.555-562
• /
• 2006

This study was conducted to investigate the rheological properties of protein-bound polysaccharide powders (SD-1, 2, 3) using ultrafiltration (UF) and spray drying (SD) process from Agaricus blazei Murill. The calculated weight-average molar mass (Mw) in the positions at 29.7 mL (for SD-1), and at 27.8 mL (for SD-2), and at 18.7 mL (for SD-3) was $8.2{\times}10^3,\;9.6{\times}10^4$, and $5.9{\times}10^6g/mol$, respectively. As concentration increased the solution showed higher pseudoplasticity where the pseudoplasticity decreased as temperature increased. The flow behaviors of spray dried powder solutions were more fitted to Herschel-Bulkley equation than Power law equation. Apparent viscosity of SD-2 was more temperature-dependent than that of SD-1 and 3. However, the SD-3 tended to be more concentration-dependent than SD-1 and 2 as temperature increasing.