• 아태비즈니스연구
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• 제11권2호
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• pp.15-25
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• 2020

Purpose - The purpose of this study is to examine whether the change of settlement procedures have an impact on the distribution of day of the week effect in the UK and French markets or not. U.K and France changed their systems from fixed settlement date systems to fixed settlement lag systems Design/methodology/approach - This study adopted the data of the specific stock market indices such as FTSE 100 in the U.K market and FRCAC 40 in the French market, This study constructs a test of the differences in mean returns across the days of the week by computing the regression equations for each country index. Findings - First, this study found that the evolving settlement procedures in stock exchanges have an effect on stock return of day of the week. Second, long-run improvements in market efficiency may have diminished the effects of certain anomalies in recent periods. Improvements in market efficiency and evolving settlement systems may cause the disappearance of the weekend effect. Research implications or Originality - The Implication of this study is that recent settlement systems contributed to the disappearance of the weekend effect and explains improvements in market efficiency and diminishments of market anomaly. This study may be the first study which examines whether evolving settlement systems have an effect on the disappearance of the weekend effect in the market or not.

• 경영과정보연구
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• 제19권
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• pp.129-143
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• 2006

The internet industry is gradually increasing according to the explosive explosion of internet and development of information communication industry. Specially, The payment method of settlement means is diversed with development of e-commerce. In this paper, we propose a settlement method using e-settlement in the network. and we suggest a security method for efficiency of e-money. Also, we propose a reform plan of e-settlement system.

• 한국정보시스템학회지:정보시스템연구
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• 제8권2호
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• pp.69-90
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• 1999

The purpose of this paper is to study the current status of Y2K settlement in korean business firms. To accomplish the purpose of this paper effectively, first of all, theoretical background of Y2K was reviewed briefly. Second, research hypotheses and methodology were discussed with the following topics: (1) research hypotheses (2) operational definitions of variables (3) survey population (4) data collection method (5) data analysis method. Third, current status and problems of Y2K problems were investigated in detail with the following areas: (1) characteristics of samples (2) comparisons of Y2K settlement by business area (3) comparisons of Y2K settlement by firm sizes (4) comparisons of Y2K settlement by degree of information systems (5) effective ways of settling Y2K problems Finally, this paper was summarized and future research directions were suggested briefly.

• 재무관리연구
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• 제20권2호
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• pp.201-234
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• 2003

본고에서는 세계시장 중에서 주요 7 국가의 시장을 대상으로 시장의 이례현상의 하나인 주말 효과와 주중 일별수익률에 대한 연구를 결제청산과정으로 접근 분석하였다. 결제청산과정은 특정한 날의 일별수익률에 영향을 미칠 수 있고 또한 시장마다 서로 다른 결제청산체계는 세계 각 시장에서 특정한 날의 일별수익률에 서로 다르게 영향을 미칠 수 있다. 최근 이러한 결산청산체계 자체가 미국, 영국 프랑스 등 여러 주요시장에서 변화가 일어났다. 그리하여 본고에서는 세계 각 국가시장에서 주식의 결제청산과정체계의 변화 및 전환에 따라 주말효과 및 주중 일별수익률의 변화에 미치는 요인을 분석하였다. 그리고 또한 주말효과와 같은 시장효율성의 이례 현상에 대한 최근 연구에서 그전과 다른 기류에 대한 연구결과가 보고되기 시작하였다. 그리하여 그전의 자료와 최근의 10여 년간의 자료를 나누어 세계 각 주요시장의 주말효과에 대한 연구를 재검토 할 필요가 있었다. 본고에서 분석한 결과 1990년대 이전에는 각 시장마다 주말효과가 강하지만 최근 10여 년 동안의 자료를 분석한 결과 주말효과가 나타난 국가의 시장은 거의 없었다. 그리고 본고에서 결제청산과정체계의 변화 및 전환이 주말효과 및 주중 일별수익률의 미치는 영향을 분석한 결과 결제청산과정의 종류나 또는 각 시장 상황에 따라 정도의 차이는 있지만 대체적으로 결제청산과정의 변화가 특정한 날의 일별 수익률 패턴에 영향을 미치고 또한 주말효과의 수준의 변화의 일부분은 이러한 결제청산과정의 영향을 받았다고 볼 수 있었다.

• 한국철도학회논문집
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• 제18권4호
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• pp.354-362
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• 2015

콘크리트궤도의 경우, 허용침하기준이 30mm 이하로 매우 엄격하게 관리되기 때문에, 궤도 하부의 토공노반(강화노반, 상부노반, 하부노반)의 침하에 대한 관리가 필수적으로 요구되고 있다. 이를 위해서는 먼저 이들 노반 재료의 침하특성에 대해 보다 정확한 이해와 자료의 축적이 우선되어야 할 것이다. 이에 본 연구에서는 노반 재료를 대상으로 대형 오이도미터시험과 삼축압축시험을 통해 여러 입도조건, 함수비 변화조건, 반복하중 조건 등에 의한 장기침하특성을 평가하였다. 강화노반 재료가 설계기준에 적합하게 조성될 경우, 열차하중 하에서 발생되는 침하는 매우 적었다. 한편, 노반재료의 경우 일정 하중 하에서 함수비가 증가할 때, 입도조건에 따라 침하 발생량이 매우 크게 발생할 수 있는 것을 확인할 수 있었다.

• Geomechanics and Engineering
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• 제16권6호
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• pp.635-642
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• 2018

Braced excavation systems are commonly required to ensure stability in construction of basements for shopping malls, underground transportation and other habitation facilities. For excavations in deposits of soft clays or residual soils, stiff retaining wall systems such as diaphragm walls are commonly adopted to restrain the ground movements and wall deflections in order to prevent damage to surrounding buildings and utilities. The ground surface settlement behind the excavation is closely associated with the magnitude of basal heave and the wall deflections and is also greatly influenced by the possible groundwater drawdown caused by potential wall leakage, flow from beneath the wall, flow from perched water and along the wall interface or poor panel connections due to the less satisfactory quality. This paper numerically investigates the influences of excavation geometries, the system stiffness, the soil properties and the groundwater drawdown on ground surface settlement and develops a simplified maximum surface settlement Logarithm Regression model for the maximum ground surface settlement estimation. The settlements estimated by this model compare favorably with a number of published and instrumented records.

• Smart Structures and Systems
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• 제33권1호
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• pp.17-26
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• 2024

The new metro crossing the existing metro will cause the settlement or floating of the existing structures, which will have safety problems for the operation of the existing metro and the construction of the new metro. Therefore, it is necessary to monitor and predict the settlement of the existing metro caused by the construction of the new metro in real time. Considering the complexity and uncertainty of metro settlement, a Gaussian Prior Bayesian Emulator (GPBE) probability prediction model based on Bayesian optimization (BO) is proposed, that is, BO-GPBE. Firstly, the settlement monitoring data are analyzed to get the influence of the new metro on the settlement of the existing metro. Then, five different acquisition functions, that is, expected improvement (EI), expected improvement per second (EIPS), expected improvement per second plus (EIPSP), lower confidence bound (LCB), probability of improvement (PI) are selected to construct BO model, and then BO-GPBE model is established. Finally, three years settlement monitoring data were collected by structural health monitoring (SHM) system installed on Nanjing Metro Line 10 are employed to demonstrate the effectiveness of BO-GPBE for forecasting the settlement.

• Animal cells and systems
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• 제7권4호
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• pp.295-301
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• 2003

Effects of the settlement density of germlings and canopy on settled germlings of Fucus serratus were investigated on the rocky shore of the Isle of Man. The survival of transplanted germlings was mainly determined by parent canopy rather than by initial settlement density of germlings. However, germling growth was greater at low density than at high density and enhanced by canopy removal. Recruitment by natural propagules was stimulated at high settlement density and maximal recruits occurred on caged slides under the canopy. On the experimental slides, tiny snails and sedimentation were ,found. The number of snails was positively related with the settlement density of germ lings indicating that they fed the germlings. Sedimentation and snail number were greater with canopy removal treatments than in canopy intact ones. These indicate that ,canopy sweeping gives benefits to germlings by removing sediment from substrata and protecting them from herbivores. In conclusion, the survival of settled F. serratus germlings is mainly determined by canopy sweeping and their growth is retarded in the presence of a canopy and at high settlement density.

• Structural Engineering and Mechanics
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• 제80권5호
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• pp.491-501
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• 2021

A difference in subgrade settlement between two rails of a track manifests as lateral differential subgrade settlement. This settlement causes unsteadiness in the motion of trains passing through the corresponding area. To illustrate the effect of lateral differential subgrade settlement on the dynamic response of a vehicle-track coupling system, a three-dimensional vehicle-track-subgrade coupling model was formulated by combining the vehicle-track dynamics theory and the finite element method. The wheel/rail force, car body acceleration, and derailment factor are chosen as evaluation indices of the system dynamic response. The effects of the amplitude and wavelength of lateral differential subgrade settlement as well as the driving speed of the vehicle are analyzed. The study reveals the following: The dynamic responses of the vehicle-track system generally increase linearly with the driving speed when the train passes through a lateral subgrade settlement area. The wheel/rail force acting on a rail with a large settlement exceeds that on a rail with a small settlement. The dynamic responses of the vehicle-track system increase with the amplitude of the lateral differential subgrade settlement. For a 250-km/h train speed, the proposed maximum amplitude for a lateral differential settlement with a wavelength of 20 m is 10 mm. The dynamic responses of the vehicle-track system decrease with an increase in the wavelength of the lateral differential subgrade settlement. To achieve a good operation quality of a train at a 250-km/h driving speed, the wavelength of a lateral differential subgrade settlement with an amplitude of 20 mm should not be less than 15 m. Monitoring lateral differential settlements should be given more emphasis in routine high-speed railway maintenance and repairs.

• KDI Journal of Economic Policy
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• 제32권2호
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• pp.171-216
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• 2010

본 연구는 갈수록 복잡다단해지는 지급 결제환경하에서 중요성이 대두되고 있는 결제시스템 간 상호의존성에 대해 그 원인과 유형, 위험관리방안 등을 살펴보고 국내 지급결제시스템 간 상호의존성 현황에 대해 조사한다. 또한 시뮬레이션 기법을 통해 실제 결제불이행의 파급효과를 계량화하여 결제시스템 간 상호의존성 정도를 파악하고 이에 대한 시사점 및 대응 방안을 모색한다. 국내 결제시스템 간 상호의존도는 지난 3년간 큰 폭으로 증가하였으며, 특히 한국은행이 운영하고 있는 거액결제시스템인 신한은금융망(BOK-wire+)은 소액, 증권, 외환결제시스템과 모두 연결되어 있어 시스템 간 상호의존성에 가장 지대한 영향을 미치고 있는 것으로 나타났다. 거액결제시스템은 소액결제와는 일평균 15조 9천억원, 장외증권과는 10조 6천억원의 결제 규모를 기록하고 있는 것으로 조사됐다. 결제불이행의 실제 파급효과를 알아보기 위해 실시한 시뮬레이션 분석 결과, 추가적인 결제불이행 규모는 일평균 최대 13조 6천억원이 발생하여 전체 결제금액의 7.8%를 차지한 것으로 나타났다. 또한 직접적인 결제불이행 금액까지 포함하면 전체의 22.3%를 기록, 국내 결제시스템간 상호의존도가 상당히 높다는 사실을 입증하였다. 또한 결제불이행 발생시점보다 인지시점이 결제불이행 파급효과에 더 중요한 요소로 지적됐고 증권사들이 국내 은행들보다 더 큰 영향을 받는 것으로 드러났다. 반면, 유동성 범위를 확대한 경우에는 추가 결제불이행 규모가 큰 폭으로 감소하였는데, 외국은행 지점의 지급불이행 비중이 상대적으로 증가한 것으로 나타났다. 이 같은 결과를 토대로 본 연구는 거래 상대방 간 상계거래 비중 확대, 증권사에 대한 새로운 결제방식 도입, 금융기관에 대한 원활한 유동성 공급방안 모색, 참여 기관에 대한 모니터링 강화, 참여기관 간 정보공유체제 강화 및 결제시스템 간 협조 강화의 필요성 등 결제위험 최소화를 위한 개선방안을 제시했다.