• The Korean Journal of Financial Management
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• v.22 no.2
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• pp.165-187
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• 2005

This paper tries to investigate the relationships among stock return volatility, time-varying risk premium and Korea Discount. Using Korean Composite Stock Price Index (KOSPI) return from January 4, 1980 to August 31, 2005, this study finds possible links between time-varying risk premium and Korea Discount. First of all, this study classifies Korean stock returns during the sample period by three regime-switching volatility period that is to say, low-volatile period medium-volatile period and highly-volatile period by estimating Markov-Switching ARCH model. During the highly volatile period of Korean stock return (09/01/1997-05/31/2001), the estimated time-varying unit risk premium from the jump-diffusion GARCH model was 0.3625, where as during the low volatile period (01/04/1980-l1/30/1985), the time-varying unit risk premium was estimated 0.0284 from the jump diffusion GARCH model, which was about thirteen times less than that. This study seems to find the evidence that highly volatile Korean stock market may induce large time-varying risk premium from the investors and this may lead to Korea discount.

• Carbon letters
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• v.21
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• pp.8-15
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• 2017

The thermoelectric Seebeck and Peltier effects of a single walled carbon nanotube (SWCNT) quantum dot nanodevice are investigated, taking into consideration a certain value of applied tensile strain and induced ac-field with frequency in the terahertz (THz) range. This device is modeled as a SWCNT quantum dot connected to metallic leads. These two metallic leads operate as a source and a drain. In this three-terminal device, the conducting substance is the gate electrode. Another metallic gate is used to govern the electrostatics and the switching of the carbon nanotube channel. The substances at the carbon nanotube quantum dot/metal contact are controlled by the back gate. Results show that both the Seebeck and Peltier coefficients have random oscillation as a function of gate voltage in the Coulomb blockade regime for all types of SWCNT quantum dots. Also, the values of both the Seebeck and Peltier coefficients are enhanced, mainly due to the induced tensile strain. Results show that the three types of SWCNT quantum dot are good thermoelectric nanodevices for energy harvesting (Seebeck effect) and good coolers for nanoelectronic devices (Peltier effect).

• Journal of Power Electronics
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• v.9 no.1
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• pp.51-60
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• 2009

Hybrid Electric Vehicles (HEVs) utilize electric power as well as a mechanical engine for propulsion; therefore the performance of HEV s can be directly influenced by the characteristics of the Energy Storage System (ESS). The ESS for HEVs generally requires high power performance, long cycle life and reliability, as well as cost effectiveness. So the Hybrid Energy Storage System (HESS), which combines different kinds of storage devices, has been considered to fulfill both performance and cost requirements. To improve operating efficiency, cycle life, and cold cranking of the HESS, an advanced dynamic control regime with which pertinent storage devices in the HESS can be selectively operated based on their status was presented. Verification tests were performed to confirm the degree of improvement in energy efficiency. In this paper, an advanced HESS with improved an Battery Management System (BMS), which has optimal switching control function based on the estimated State of Charge (SOC), has been developed and verified.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.9
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• pp.1-9
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• 2021

This study aimed to investigate the existence of the Feldstein-Horioka (1980) puzzle in international macroeconomics by applying the conditional Autoregressive Distributed Lag (ARDL) model to examine the long-run relationship between national savings and investments in Thailand and China. The input of this study relied on annual national savings and investments as a fraction of GDP during 1980-2019 which was collected from China National Bureau of Statistics (NBS) and Thailand National Economic and Social Development Council (NESDC). Hypothetically, Augmented Dickey-Fuller (ADF) and Phillips-Perron (PP) unit root tests were applied to test the stationary properties and to investigate the integration level of selected time series. The empirical results, confirmed by cumulative sum (CUSUM) and cumulative sum square (CUSUMSQ), maintained no serial correlation and structural break problems. The finding of this study suggested that the Feldstein-Horioka puzzle in Thailand did not exist significantly. Thailand's national savings and investments nexus was independent, following the classic economic idea that financial liberalization, or perfect capital mobility, allowed national savings and investments to flow freely to countries with better interest rates. Whereas, a strong significant correlation was found in the case of China during the fixed exchange rate regime switching in 1994 and post WTO participation after 2001-2019.

• Management & Information Systems Review
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• v.35 no.3
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• pp.1-22
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• 2016

We analyzed the international comovements and structural changes in the quarterly real GDP by the Markov-switching vector autoregressive model (MS-VAR) from 1971(1) to 2016(1). The main results of this study were as follows. First, the business cycle phenomenon that occurs in the models or individual time series in real GDP has been grasped through the MS-VAR models. Unlike previous studies, this study showed the significant comovements, asymmetry and structural changes in the MS-VAR model using a real GDP across countries. Second, even if there was a partial difference, there were remarkable structural changes in the economy contraction regime(recession), such as 1988(2) ending the global oil shock crisis and 2007(3) starting the global financial crisis by the MS-VAR model. Third, large-scale structural changes were generated in the economic expansion and/or contraction regime simultaneously among countries. We found that the second world oil shocks that occurred after the first global oil shocks of 1973 and 1974 were the main reasons that caused the large-scale comovements of the international real GDP among countries. In addition, the spillover between Korea and 5 countries has been weak during the Asian currency crisis from 1997 to 1999, but there was strong transmission between Korea and 5 countries at the end of 2007 including the period of the global financial crisis. Fourth, it showed characteristics that simultaneous correlation appeared to be high due to the country-specific shocks generated for each country with the regime switching using real GDP since 1973. Thus, we confirmed that conclusions were consistent with a number of theoretical and empirical evidence available, and the macro-economic changes were mainly caused by the global shocks for the past 30 years. This study found that the global business cycles were due to large-scale asymmetric shocks in addition to the general changes, and then showed the main international comovements and/or structural changes through country-specific shocks.

• Transactions of the Korean Society of Mechanical Engineers B
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• v.20 no.5
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• pp.1649-1660
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• 1996

The flow around a circular cylinder was controlled by an acoustic excitation issued from a thin slit along the cylinder axis. The static pressure distributions around the cylinder wall and flow characteristics in the near wake have been measured. Experiments were performed under three cases of Reynolds number, 7.8 * 10$\^$4/, 2.3 * 10$\^$5/ and 3.8 * 10$\^$5/. The effects of excitation frequency, sound pressure level and the location of the slit were examined. Data indicate that the excitation frequency and the slit location are the key parameters for controlling the separated flow. At Re$\_$d/, = 7.8 * 10$\^$4/, the drag is reduced and the lift is generated to upward direction, however, at Re$\_$d/, =2.3 * 10$\^$5/ and 3.8 * 10$\_$5/, the drag is increased and lift is generated to downward direction inversely. It is thought that the lift switching phenomenon is due to the different separation point of upper surface and lower surface on circular cylinder with respect to the flow regime which depends on the Reynolds number. Vortex shedding frequencies are different at upper side and lower side. Time-averaged velocity field shows that mean velocity vector and the points of maximum intensities are inclined to downward direction at Re$\_$d/ = 7.8 * 10$\^$4/, but are inclined to upward direction at Re$\_$d/ = 2.3 * 10$\^$5/.

• Advances in nano research
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• v.10 no.5
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• pp.415-422
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• 2021

Silicene, a 2D allotrope of silicon, is predicted to be a potential material for future transistor that might be compatible with present silicon fabrication technology. Similar to graphene, silicene exhibits the honeycomb lattice structure. Consequently, silicene is a semimetallic material, preventing its application as a field-effect transistor. Therefore, this work proposes the uniform doping bandgap engineering technique to obtain the n-type silicene nanosheet. By applying nearest neighbour tight-binding approach and parabolic band assumption, the analytical modelling equations for band structure, density of states, electrons and holes concentrations, intrinsic electrons velocity, and ideal ballistic current transport characteristics are computed. All simulations are done by using MATLAB. The results show that a bandgap of 0.66 eV has been induced in uniformly doped silicene with phosphorus (PSi₃NW) in the zigzag direction. Moreover, the relationships between intrinsic velocity to different temperatures and carrier concentration are further studied in this paper. The results show that the ballistic carrier velocity of PSi₃NW is independent on temperature within the degenerate regime. In addition, an ideal room temperature subthreshold swing of 60 mV/dec is extracted from ballistic current-voltage transfer characteristics. In conclusion, the PSi₃NW is a potential nanomaterial for future electronics applications, particularly in the digital switching applications.

• Progress in Superconductivity
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• v.4 no.1
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• pp.1-9
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• 2002

Transferring single flux quanta across a Josephson junction at an exactly determined rate has made highly precise voltage measurements possible. Making use of self-shunted Nb-based SINIS junctions, programmable fast-switching DC voltage standards with output voltages of up to 10 V were produced. This development is now extended from fundamental DC measurements to the precise determination of AC voltages with arbitrary waveforms. Integrated RSFQ circuits will help to replace expensive semiconductor devices for frequency control and signal coding. Easy-to-handle AC and inexpensive quantum voltmeters of fundamental accuracy would be of interest to industry. In analogy to the development in the flux regime, metallic nanocircuits comprising small-area tunnel junctions and providing the coherent transport of single electrons might play an important role in quantum current metrology. By precise counting of single charges these circuits allow prototypes of quantum standards for electric current and capacitance to be realised. Replacing single electron devices by single Cooper pair circuits, the charge transfer rates and thus the quantum currents could be significantly increased. Recently, the principles of the gate-controlled transfer of individual Cooper pairs in superconducting A1 devices in different electromagnetic environments were demonstrated. The characteristics of these quantum coherent circuits can be improved by replacing the small aluminum tunnel Junctions by niobium junctions. Due to the higher value of the superconducting energy gap ($\Delta_{Nb}$ ＝ $7\Delta_{Al}$), the characteristic energy and the frequency scales for Nb devices are substantially extended as compared to A1 devices. Although the fabrication of small Nb junctions presents a real challenge, the Nb-based metrological devices will be faster and more accurate in operation. Moreover, the Nb-based Cooper pair electrometer could be coupled to an Nb single Cooper pair qubit which can be beneficial for both, the stability of the qubit and its readout with a large signal-to-noise ratio..

• Advances in nano research
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• v.15 no.6
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• pp.521-531
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• 2023

Quantum-dot cellular automata (QCA) has shown great potential in the nanoscale regime as a replacement for CMOS technology. This work presents a specific approach to static random-access memory (SRAM) cell based on 2:1 multiplexer, 4-bit SRAM array, and 32-bit SRAM array in QCA. By utilizing the proposed SRAM array, a single-layer 16×32-bit SRAM with the read/write capability is presented using an optimized signal distribution network (SDN) crossover technique. In the present study, an extremely-optimized 2:1 multiplexer is proposed, which is used to implement an extremely-optimized SRAM cell. The results of simulation show the superiority of the proposed 2:1 multiplexer and SRAM cell. This study also provides a more efficient and accurate method for calculating QCA costs. The proposed extremely-optimized SRAM cell and SRAM arrays are advantageous in terms of complexity, delay, area, and QCA cost parameters in comparison with previous designs in QCA, CMOS, and FinFET technologies. Moreover, compared to previous designs in QCA and FinFET technologies, the proposed structure saves total energy consisting of overall energy consumption, switching energy dissipation, and leakage energy dissipation. The energy and structural analyses of the proposed scheme are performed in QCAPro and QCADesigner 2.0.3 tools. According to the simulation results and comparison with previous high-quality studies based on QCA and FinFET design approaches, the proposed SRAM reduces the overall energy consumption by 25%, occupies 33% smaller area, and requires 15% fewer cells. Moreover, the QCA cost is reduced by 35% compared to outstanding designs in the literature.