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Bankruptcy prediction using an improved bagging ensemble (개선된 배깅 앙상블을 활용한 기업부도예측)

  • Min, Sung-Hwan
    • Journal of Intelligence and Information Systems
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    • v.20 no.4
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    • pp.121-139
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    • 2014
  • Predicting corporate failure has been an important topic in accounting and finance. The costs associated with bankruptcy are high, so the accuracy of bankruptcy prediction is greatly important for financial institutions. Lots of researchers have dealt with the topic associated with bankruptcy prediction in the past three decades. The current research attempts to use ensemble models for improving the performance of bankruptcy prediction. Ensemble classification is to combine individually trained classifiers in order to gain more accurate prediction than individual models. Ensemble techniques are shown to be very useful for improving the generalization ability of the classifier. Bagging is the most commonly used methods for constructing ensemble classifiers. In bagging, the different training data subsets are randomly drawn with replacement from the original training dataset. Base classifiers are trained on the different bootstrap samples. Instance selection is to select critical instances while deleting and removing irrelevant and harmful instances from the original set. Instance selection and bagging are quite well known in data mining. However, few studies have dealt with the integration of instance selection and bagging. This study proposes an improved bagging ensemble based on instance selection using genetic algorithms (GA) for improving the performance of SVM. GA is an efficient optimization procedure based on the theory of natural selection and evolution. GA uses the idea of survival of the fittest by progressively accepting better solutions to the problems. GA searches by maintaining a population of solutions from which better solutions are created rather than making incremental changes to a single solution to the problem. The initial solution population is generated randomly and evolves into the next generation by genetic operators such as selection, crossover and mutation. The solutions coded by strings are evaluated by the fitness function. The proposed model consists of two phases: GA based Instance Selection and Instance based Bagging. In the first phase, GA is used to select optimal instance subset that is used as input data of bagging model. In this study, the chromosome is encoded as a form of binary string for the instance subset. In this phase, the population size was set to 100 while maximum number of generations was set to 150. We set the crossover rate and mutation rate to 0.7 and 0.1 respectively. We used the prediction accuracy of model as the fitness function of GA. SVM model is trained on training data set using the selected instance subset. The prediction accuracy of SVM model over test data set is used as fitness value in order to avoid overfitting. In the second phase, we used the optimal instance subset selected in the first phase as input data of bagging model. We used SVM model as base classifier for bagging ensemble. The majority voting scheme was used as a combining method in this study. This study applies the proposed model to the bankruptcy prediction problem using a real data set from Korean companies. The research data used in this study contains 1832 externally non-audited firms which filed for bankruptcy (916 cases) and non-bankruptcy (916 cases). Financial ratios categorized as stability, profitability, growth, activity and cash flow were investigated through literature review and basic statistical methods and we selected 8 financial ratios as the final input variables. We separated the whole data into three subsets as training, test and validation data set. In this study, we compared the proposed model with several comparative models including the simple individual SVM model, the simple bagging model and the instance selection based SVM model. The McNemar tests were used to examine whether the proposed model significantly outperforms the other models. The experimental results show that the proposed model outperforms the other models.

Analysis of the 'Problem Solving and Invention' Units of Technology and Home Economics 1 Textbook (기술.가정 1 교과서 '문제해결과 발명' 단원 분석)

  • Jung, Jin Woo
    • 대한공업교육학회지
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    • v.38 no.1
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    • pp.49-67
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    • 2013
  • The purpose of this study is to analyze the external systems and the units 'problem solving and invention' of the middle school technology and home economics 1 textbooks of the revised 2011 national curriculum in an effort to provide some information on the content system of invention education in technology class, as invention education was provided as part of a regular subject for the first time. The findings of the study were as follows: First, 'Technology and Inventions' chapter of Technology and Home Economics 1 Textbooks occupied 10-18% share, with the subchapter of 'Problem Solving and Invention' unit taking up 6.7-29% of the textbooks. Second, for most textbooks, 'Technological Problem Solving', 'Idea Generation' 'Multi-dimensional Projection Method', 'Expansive Thought-Processing Methodology', 'Converging Thought Methodology' and 'Invention in Everyday Lives' were included as main contents based on the accomplishment criteria presented in education process interpretation documents. Third, the detailed structures were generally made up as follows: Introduction (Broad Chapter Title, Subchapter Table of Contents, Introduction, Subchapter Title, Study Objectives, Open Thinking); Development (Unit Title, Thinking Ahead, Core Terms, Main Text, Study Helper, Activities, Research Exercises, Supplemental Readings, In-depth Study Topics, Technology in Everyday Lives, Reading Topics, Discussion Topics, and Career Helpers); and Summary (Subchapter Summary, Study Summary, Terms Summary, Writing Follow-up, Self Review, Broad Chapter Evaluation). Fourth, based on the analysis of figures included, photographs had the largest share, followed by figures, tables, and graphs. The photos were used to illustrate various inventions, invention methodologies, and exercise activities, while figures were included to depict the contents included in the main text, and the tables to assist to preparation of process diagrams or materials lists. Fifth, based on the analysis of content weights, greater weights were placed on 'Inventions and Thoughts', and 'Invention Experiment Activities,' while 'Understanding Inventions' and 'Invention and Patents' chapters did not have a lot of texts involved. Sixth, based on the analysis of content presentation methods, most textbooks combined figures, tables, illustrations and texts to discuss the topics. Based on the above study results, we suggest the following: First, a consistent education curriculum should be developed over the topic of invention; and second, more precise and systematic analysis of textbooks would need to be performed.

Development of nutrition quotient for Korean preschoolers (NQ-P): Item selection and validation of factor structure (취학전아동 대상 영양지수 개발 : 평가항목 선정과 구성 타당도 검증)

  • Lee, Jung-Sug;Kang, Myung-Hee;Kwak, Tong-Kyung;Chung, Hae Rang;Kwon, Sehyug;Kim, Hye-Young;Hwang, Ji-Yun;Choi, Young-Sun
    • Journal of Nutrition and Health
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    • v.49 no.5
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    • pp.378-394
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    • 2016
  • Purpose: Screening of preschool-age children for nutrition programs to improve dietary intake and behaviors requires cost-effective and easily administered validated assessment tools. The purpose of this study was to develop a parent/caregiver-administered instrument for measuring diet quality and behaviors of preschoolers as a nutrition quotient for preschoolers (NQ-P). Methods: Development of NQ-P was carried out in three steps: item generation, item reduction, and validation. The 24-h dietary record was selected as the gold standard reference tool. The 38 items of the NQ-P checklist were derived from a systematic literature review, expert in-depth interviews, statistical analysis of the fifth Korean National Health and Nutrition Examination Survey data, and national nutrition policies and recommendations. Self-administered questionnaires were delivered to parents who recorded 24-h dietary intakes of 100 responders aged 3~5 yr. Pearson's correlation was used to measure the level of agreement between questionnaires. Item reduction was performed, and 20 items were selected based on survey results, expert reviews, and priorities of national nutrition policy and recommendations. The 412 nationwide subjects sampled through daycare centers completed the 20-item checklist questionnaire. The construct validity of the NQ-P was assessed using confirmatory factor analysis, LISREL. Results: After analyses of exploratory factors, NQ-P items identified three dimensions of diet (balance, moderation, and environment). The three-factor structure accounted for 49.28% of the total variance. Standardized path coefficients were used as weights of the items. The NQ-P and three-factor scores of the subjects were calculated by the obtained weights of the questionnaire items. Conclusion: A food behavior checklist for preschoolers' NQ would be a useful and suitable instrument for evaluating nutrition adequacy and dietary quality of Korean preschoolers.

Clinical aspects of chronic urticaria in children (소아 만성 두드러기의 임상 양상 및 경과)

  • Kang, Hye Seon;Shin, Mee Yong
    • Clinical and Experimental Pediatrics
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    • v.52 no.2
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    • pp.205-212
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    • 2009
  • Purpose : Chronic urticaria is a disorder characterized by the appearance of wheals for more than 6 weeks; in most cases, the etiology is unknown. This study was aimed to discover the clinical aspects, the etiologic factors, and the course of chronic urticaria. Methods : 51 children who were diagnosed with chronic urticaria in the past 4 years, and who had had follow-ups more than 6 months after diagnosis in the pediatric department of Soonchunhyang University Hospital in Bucheon, were enrolled in the study. The laboratory findings, clinical aspects, and courses were retrospectively investigated by medical record review and telephone interview. Results : The median age of children with chronic urticaria was 4 years (8 months to 16 years) and the ratio of male to female was 1.4:1. Of the total, 39.2% of patients had a history of atopy. Angioedema occurred concurrently with urticaria in 11.8% of patients, and dermographism was seen in 41.2%. Results of thyroid function tests were normal and thyroid autoantibodies were absent in all cases. Regarding etiology, most cases (74.5%) were forms of idiopathic urticaria. Urticaria was induced by physical factors in 19.6% of patients. Open challenge tests revealed that 3 patients were allergic to food additives (glutamate 2, glutamate, and sulfite 1). In this study, most of the patients reported good response after medication of 1st- or 2nd-generation antihistamines alone. Follow-up at 6 months revealed that 70.6% of patients had experienced remission, and 84.8% of children who had follow-up at 1 year presented remission. Conclusion : Chronic urticaria in most patients was idiopathic. Remission occurred within 1 year of diagnosis, in most cases so chronic urticaria in children seems to have good prognosis.

A Study on the Strategies of Growth in Small & Medium Construction Firms (강원지방 중소건설업의 성장전략에 관한 연구)

  • Kim, Beom-Jin;Cho, Chang-Jin
    • Korean Business Review
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    • v.19 no.1
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    • pp.53-80
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    • 2006
  • This research has been accomplished to build up the growth strategies of Kangwon district's small & medium-sized construction firms. For this purpose, we made an investigation of the present situation and status for existing regional small & medium construction firms by analyzing data. Based on the results from this study, the following growth strategies are suggested to gain their competitive advantages. Firstly, most of all, the role of the top manager is the most important factor since most of the top manager for the small & medium-sized construction firms coincide with the owner the firms. Secondly, the specialization strategy is to establish. Above all they concentrate their business capacities on core business. Then, this growth strategy should be based on the selective escalation of functions in order to maintain an appropriate level of construction works. Thirdly, the specialized skills and skilled workers are ensured for competitive advantages. For human resource development, they should train workers to be multi-functioned on the assumption the they could stay at firm until they wish to retire. Finally, the government must also spare no effort to encourage the small & medium-sized construction firms to build up it's competitive power and cultivate it's spontaneous generation power though the reformation of system related whit the small and medium construction industry.

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A Study on Researches of Resource-plants for Special Use or Purpose - Based on the Articles Published in the Journal of Korean Forestry - (특용자원식물(特用資源植物)의 연구(硏究) - 한국임학회지에 게재된 논문을 중심으로 -)

  • Yi, Jae-Seon;Kim, Chul-Woo;Song, Jae-Mo;Bae, Chan-Ho;Kang, Hyo-Jin;Hwang, Suk-In;Moon, Heung-Kyu
    • Journal of Forest and Environmental Science
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    • v.19 no.1
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    • pp.85-98
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    • 2003
  • The articles, published in the Journal of Korean Forestry from Number 1(1962) to Number 6, Volume 91(2002), were surveyed and investigated for the research trend analysis about resource-plants for special use or purpose, i. e., edible plants, medicinal plants, feed resource, landscape plants, fiber plants, industrial usuage, and bee plants. If the purpose or subject matter of the research was construction or furniture timber production, mushrooms and/or pulp and paper, such research was not included in this study. These articles were classified again depending on the content of research into 14 categories: habitat environment, ecology, physiology, propagation, silviculture (tending and culture), genetics and breeding, identification, insect and disease control, animal-related research, component analysis, vegetation survey, biotechnology, management, and review. Among the total 1.434 articles published, 396 ones (27.6%) were related with plants for special use or purpose. Vegetation survey was 60 (15.2%): physiology 56(14.1%) : genetics and breeding 56(14.1%): propagation 53(13.4%): and ecology 37(9.3%). Siviculture research field included 11 articles (2.8%), which indicates that the management of resource-plants is so far from economic income as seen in the low number of management research filed articles, i. e., only 6 reports (1.5%) Korean white pine was most popular for research and included 42 articles: Robinia pseudoacacia 23: Castanea crenata 14: and ginkgo tree 14. Research related with these species had focused mainly on propagation, physiology, genetics and breeding, ecology and pest control. Based on this survey and analysis, the followings are suggested: 1. More research is required on forest herbaceous plants. 2. Cooperative research work with other industrial and/or scientific area is recommendable for commercialization including medicine, cosmetics, and food etc. 3. Research on resource-plant conservation, which includes biology, social education and policy, should be supported for next generation. 4. Mutual correspondence and information exchange about the research results between researchers and institutes is more necessary than now.

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Comparative legal review between national R&D projects and defence R&D programs - A study on improvement of royalty system for the promotion of aircraft industry - (국가연구개발사업 및 국방연구개발사업 간 비교법적 검토 - 항공기산업 진흥을 위한 기술료 제도 개선에 관한 연구 -)

  • Lee, Hae-Jun;Kim, Sun-Ihee
    • The Korean Journal of Air & Space Law and Policy
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    • v.35 no.1
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    • pp.153-180
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    • 2020
  • This study is meaningful in finding out what legal and policy issues need to be improved in order to foster the aircraft industry, which is relatively underdeveloped compared to the fact that some heavy industries, such as the automobile industry and shipbuilding industry, have achieved a high level of production and technology globally. Korea's aircraft industry has been growing at a slower pace than other industries, largely due to the country's economic growth and the lack of a market structure to properly use variables such as the level of development in related industries, aircraft technology and demand for aircraft manufacturing. While most industries are privately led by the market structure of the competition system, heavy industries such as the aircraft industry generally grow under the market structure of the incomplete competition system, because only by securing huge initial investment costs, high technology, and sufficient demand, they can maintain minimum economic feasibility. The Korean aircraft industry was focused on developing and mass-producing military aircraft focusing on military demand, but it sought to turn the tide by signing the BASA (Bileral Aviation Safety Agreement) with the U.S. A preliminary feasibility study was conducted in 2010 to develop next-generation medium-sized aircraft, but was cancelled due to differences in position with Canada's Bombardier, which is subject to the concourse, and Korea Aerospace Industries (KAI) is pushing for the production of Bombardier's Q400 license on its own. Compared to the mid-to-large sized civil aircraft that are facing difficulties in development, KAI and KARI are successfully developing technologies to unmanned aerial vehicles and civil helicopters. In addition, the unmanned aerial vehicle sector is not yet suitable for manufacturers that have an exclusive global influence, so we believe that it is necessary to pursue government-led research and development projects with a focus on the areas of commercial helicopters and unmanned aerial vehicles in order to foster the aircraft industry in the future. In addition, since military aircraft such as KT-1 and T-50 are currently being exported smoothly, and it cannot be overlooked that the biggest demand for aircraft manufacturing in the Korea is the military, it is necessary to push forward national R&D projects and defense R&D program simultaneously to enable both civilian-military development. However, there are many differences between the two projects in the way they are implemented, the department in charge and the royalty system. Through this study, we learned about the technology ownership and implementation rights of national R&D projects and defense R&D programs, as well as the royalty system. In addition, problems with the system were identified and improvement measures were derived.

Review of a Plant-Based Health Assessment Methods for Lake Ecosystems (식물에 의한 호수생태계 건강성 평가법에 대한 고찰)

  • Choung, Yeonsook;Lee, Kyungeun
    • Korean Journal of Ecology and Environment
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    • v.46 no.2
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    • pp.145-153
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    • 2013
  • It is a global trend that the water management policy is shifting from a water quality-oriented assessment to the aquatic ecosystem-based assessment. The majority of aquatic ecosystem assessment systems were developed solely based on physicochemical factors (e.g., water quality and bed structure) and a limited number of organisms (e.g., plankton and benthic organisms). Only a few systems use plants for a health assessment, although plants are sensitive indicators reflecting long-term disturbances and alterations in water regimes. The development of an assessment system is underway to evaluate and manage lakes as ecosystem units in the Korean Ministry of Environment. We reviewed the existing multivariate health assessment methods of other leading countries, and discussed their applicability to Korean lakes. The application of multivariate assessment methods is costly and time consuming, in addition to the correlation problem among variables. However, a single variable is not available at this moment, and the multivariate method is an appropriate system due to its multidimensional evaluation and cumulative data generation. We, therefore, discussed multivariate assessment methods in three steps: selecting metrics, scoring metrics and assessing indices. In the step of selecting metrics, the best available metrics are species-related variables, such as composition and abundance, as well as richness and diversity. Indicator species, such as sensitive species, are the most frequently used in other countries, but their system of classification in Korea is not yet complete. In terms of scoring metrics, the lack of reference lakes with little anthropogenic impact make this step difficult, and therefore, the use of relative scores among the investigated lakes is a suitable alternative. Overall, in spite of several limitations, the development of a plant-based multivariate assessment method in Korea is possible using mostly field research data. Later, it could be improved based on qualitative metrics on plant species, and with the emergence of further survey data.

An Economic Factor Analysis of Air Pollutants Emission Using Index Decomposition Methods (대기오염 배출량 변화의 경제적 요인 분해)

  • Park, Dae Moon;Kim, Ki Heung
    • Environmental and Resource Economics Review
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    • v.14 no.1
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    • pp.167-199
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    • 2005
  • The following policy implications can be drawn from this study: 1) The Air Pollution Emission Amount Report published by the Ministry of Environment since 1991 classifies industries into 4 sectors, i. e., heating, manufacturing, transportation and power generation. Currently, the usability of report is very low and extra efforts should be given to refine the current statistics and to improve the industrial classification. 2) Big pollution industries are as follows - s7, s17 and s20. The current air pollution control policy for these sectors compared to other sectors are found to be inefficient. This finding should be noted in the implementation of future air pollution policy. 3) s10 and s17 are found to be a big polluting industrial sector and its pollution reduction effect is also significant. 4) The effect of emission coefficient (${\Delta}f$) has the biggest impact on the reduction of emission amount change and the effect of economic growth coefficient (${\Delta}y$) has the biggest impact on the increase of emission volume. The effect of production technology factor (${\Delta}D$) and the effect of the change of the final demand structure (${\Delta}u$) are insignificant in terms of the change of emission volume. 5) Further studies on emission estimation techniques on each industry sector and the economic analysis are required to promote effective enforcement of the total volume control system of air pollutants, the differential management of pollution causing industrial sectors and the integration of environment and economy. 6) Korea's economic growth in 1990 is not pollution-driven in terms of the Barry Commoner's hypothesis, even though the overall industrial structure and the demand structure are not environmentally friendly. It indicates that environmental policies for the improvement of air quality depend mainly on the government initiatives and systematic national level consideration of industrial structures and the development of green technologies are not fully incorporated.

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Rheological Characteristics of Hydrogen Fermented Food Waste and Review on the Agitation Intensity (음식물류폐기물 수소 발효액의 유변학적 특성과 교반강도 고찰)

  • Kim, Min-Gyun;Lee, Mo-Kwon;Im, Seong-Won;Shin, Sang-Ryong;Kim, Dong-Hoon
    • Journal of the Korea Organic Resources Recycling Association
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    • v.25 no.4
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    • pp.41-50
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    • 2017
  • The design of proper agitation system is requisite in biological waste treatment and energy generation plant, which is affected by viscosity, impeller types, and power consumption. In the present work, hydrogen fermentation of food waste was conducted at various operational pHs (4.5~6.5) and substrate concentrations (10~50 g Carbo. COD/L), and the viscosity of fermented broth was analyzed. The $H_2$ yield significantly varied from 0.51 to $1.77mol\;H_2/mol\;hexose_{added}$ depending on the pH value, where the highest performance was achieved at pH 5.5. The viscosity gradually dropped with shear rate increase, indicating a shear thinning property. With the disintegration of carbohydrate, the viscosity dropped after fermentation, but it did not change depending on the operational pH. At the same pH level, the $H_2$ yield was not affected much, ranging $1.40{\sim}1.86mol\;H_2/mol\;hexose_{added}$ at 10~50 g Carbo. COD/L. The zero viscosity and infinite viscosity of fermented broth increased with substrate concentrations, from 10.4 to $346.2mPa{\cdot}s$, and from 1.7 to $5.3mPa{\cdot}s$, respectively. There was little difference in the viscosity value of fermented broth at 10 and 20 g Carbo. COD/L. As a result of designing the agitation intensity based on the experimental results, it is expected that the agitation intensity can be reduced during hydrogen fermentation. The initial and final agitation intensity of 30 g Carbo. COD/L in hydrogen fermentation were 26.0 and 10.0 rpm, respectively. As fermentation went on, the viscosity gradually decreased, indicating that the power consumption for agitation of food waste can be reduced.