• Journal of Digital Convergence
• /
• v.15 no.1
• /
• pp.199-208
• /
• 2017

This study investigates the components and rating system of reliable technology credit information for a technology finance donor who is a consumer of the information and aims to create an effective and optimal technology credit appraisal system to enlarge technology finance supply. Firstly, we calculate the optimal TCAR which becomes the maximum AUROC through the combination of ratio change, verify the substitution possibility between TAR and CR through the existing CR and system gap simulation, and propose a rating system by which financial institutes can utilize the TCAR as a credit rating. As a result, 70% : 30% is the most suitable as the weighted combination ratio of credit rating : technology rating. As a result of this study, we confirmed the possibility that the technical credit rating information could be substituted by the credit rating or the technology appraisal rating. Furthermore, it also suggests that sophisticated risk management is possible through using technology credit rating that are combined with credit and technology appraisal rating.

• Smart Structures and Systems
• /
• v.32 no.6
• /
• pp.371-382
• /
• 2023

Box girder bridges are now widely used in bridge construction, and it is necessary to perform load rating regularly to evaluate the load capacity of box girder bridges. Load testing is a common measure for load rating. However, the bridge must be loaded by many trucks under different loading conditions, which is time-consuming and laborious. To solve this problem, this paper proposes a load rating method for box girder bridges based on rapid moving loads testing. The method includes three steps. First, the quasi-influence factors of the bridge are obtained by crossing the bridge with rapidly moving loads, and the structural modal parameters are simultaneously obtained from the dynamic data to supplement. Second, an objective function is constructed, consisting of the quasi-influence factors at several measurement points and structural modal parameters. The finite element model for load rating is then updated based on the Rosenbrock method. Third, on this basis, a load rating method is proposed using the updated model. The load rating method proposed in this paper can considerably reduce the time duration of traditional static load testing and effectively utilize the dynamic and static properties of box girder bridges to obtain an accurate finite element model. The load capacity obtained based on the updated model can avoid the inconsistency of the evaluation results for the different structural members using the adjustment factors specified in codes.

• Knowledge Management Research
• /
• v.11 no.2
• /
• pp.95-109
• /
• 2010

The objectives of this study are to identify the survival function (hazard function) of small and medium enterprises by using technology rating data for the companies guaranteed by Korea Technology Finance Corporation (KOTEC), and to figure out the factors that affects their survival. To serve the purposes, this study uses Kaplan-Meier Analysis as a non-parametric method and Cox proportional hazards model as a semi-parametric one. The 17,396 guaranteed companies that assessed from July 1st in 2005 to December 31st in 2009 are selected as samples (16,504 censored data and 829 accident data). The survival time is computed with random censoring (Type III) from July in 2005 as a starting point. The results of the analysis show that Kaplan-Meier Analysis and Cox proportional hazards model are able to readily estimate survival and hazard function and to perform comparative study among group variables such as industry and technology rating level. In particular, Cox proportional hazards model is recognized that it is useful to understand which technology rating items are meaningful to company's survival and how much they affect it. It is considered that these results will provide valuable knowledge for practitioners to find and manage the significant items for survival of the guaranteed companies through future technology rating.

• Journal of Power Electronics
• /
• v.19 no.2
• /
• pp.463-474
• /
• 2019

This paper presents the effect of winding configuration on the kVA rating of a wye-connected autotransformer applied to a 12-pulse rectifier. To describe the winding configuration of the wye-connected autotransformer, position and proportional parameters are defined and their quantitative relation is calculated. The voltages across and currents through the windings are measured under different winding connections. Consequently, a relation between the kVA rating and position parameter is established in accordance with the analysis, and the optimal winding configuration is obtained on the basis of this relation. A wye-connected autotransformer with the least equivalent kVA rating and simplest winding configuration is designed and applied to the 12-pulse rectifier. Simulations and experiments are conducted to validate the theoretical analysis.

• Structural Engineering and Mechanics
• /
• v.47 no.5
• /
• pp.643-660
• /
• 2013

In the present work, the capacity ratings of steel truss bridges have been carried out incorporating dynamic effect of moving vehicles and its accumulating effect as fatigue. Further, corrosion in the steel members has been taken into account to examine the rating factor. Dynamic effect has been considered in the rating procedure making use of impact factors obtained from simulation studies as well as from codal guidelines. A steel truss bridge has been considered to illustrate the approach. Two levels of capacity ratings- the upper load level capacity rating (called operating rating) and the lower load level capacity rating (called inventory rating) were found out using Load and Resistance Factor Design (LRFD) method and a proposal has been made which incorporates fatigue in the rating formula. Random nature of corrosion on the steel member has been taken into account in the rating by considering reduced member strength. Partial safety factor for each truss member has been obtained from the fatigue reliability index considering random variables on the fatigue parameters, traffic growth rate and accumulated number of stress cycle using appropriate probability density function. The bridge has been modeled using Finite Element software. Regressions of rating factor versus vehicle gross weight have been obtained. Results show that rating factor decreases when the impact factor other than those in the codal provisions are considered. The consideration of fatigue and member corrosion gives a lower value of rating factor compared to those when both the effects are ignored. In addition to this, the study reveals that rating factor decreases when the vehicle gross weight is increased.

• The Journal of Asian Finance, Economics and Business
• /
• v.9 no.4
• /
• pp.1-12
• /
• 2022

Our study adds to the body of knowledge about the relationship between credit ratings and the capital structure of bond issuers. Using Bloomberg and Datastream databases and employing panel regression models, we study the capital structure changes of Japanese enterprises after credit rating changes by global rating agencies (S&P and Moody's) as well as their local counterparts (R&I and JCR) from 1998 to 2016. We find that after rating downgrades, Japanese enterprises considerably reduce net debt or net debt relative to net equity, similar to the findings of Kisgen (2009), who focused on U.S. industrial firms. They do not, however, make adjustments to their financial structure as a result of rating improvements. In comparison to downgrades by S&P and Moody's, Japanese corporations issue 1.89 percent less net debt and 1.50 percent less net debt relative to net equity after R&I and JCR rating downgrades. To put it another way, Japanese companies consider rating adjustments made by local agencies to be more significant than those made by global rating organizations. Our findings contradict earlier research that suggests S&P and Moody's are more prominent in the investment community than R&I and JCR in Japan.

• Journal of Technology Innovation
• /
• v.25 no.4
• /
• pp.1-15
• /
• 2017

In 2014, the Financial Services Commission designated the Tech Credit Bureaus(TCB) to issue technical credit evaluation reports. The Five credit rating agencies, KEB Hana Bank and others have issued the technical credit reports since the summer in 2014. Meanwhile, the technology evaluation model of KEB Hana Bank consists of 25 detailed evaluation items. These item classes are weighted and the technology rating is systematically. The technology rating is combined with the credit rating to calculate the technology-credit rating. In this paper, we analyzed the 406 evaluation results issued by KEB Hana Bank. Based on the number of years of work experience, company managerial years, technical personnel score, the possession of R&D department, the amount of R&D investment, the number of certifications, and the number of patents, the Correlation between the above items and the technical grade was analyzed. It was found that quantitative indicators such as the presence of R&D department, patent numbers, and R&D investment expenses had a significant effect on the company's technology grade, and in particular, the presence of R&D department was shown a high correlation with the technology rating.

• KIEAE Journal
• /
• v.10 no.3
• /
• pp.81-88
• /
• 2010

Current trend on sustainable tall building shows significant efforts on the integrated design approaches for the performative design to achieve efficient building for the energy, structural and materials. The design of tall buildings should take into consideration of environmental impact and economic benefits from sustainable approaches to ensure low energy consumption and CO2 emissions. Designing sustainable tall building require concerns and comprehensive understanding of sustainable building technology, sustainable rating system and supporting incentive policy. The research has been conducted on available rating system and the incentive policy for sustainable building design methodology through cases studies for this study. In the paper, author tried to emphasis the role of the incentive policy for the sustainable building and provides survey of the impact on rating, adaptable use of sustainable building technology on the current practice of tall building design.

• The Journal of Asian Finance, Economics and Business
• /
• v.5 no.4
• /
• pp.9-20
• /
• 2018

Global rating agencies, such as Moody's and S&P, have assigned credit ratings to corporate bonds issued by Japanese firms since 1980s. Local Japanese rating agencies, such as R&I and JCR, have more market share than the global raters. We examine the yield spreads of 1,050 yen-denominated corporate bonds issued by financial firms in Japan from 1998 to 2014 and find no evidence that bonds rated by at least one global agency are associated with a significant reduction in the cost of debt as compared to those rated by only local rating agencies. Unlike non-financial firms, the reputation effect of global rating agencies does not exist for Japanese financial firms. We also observe that firms with less information asymmetry are more likely to acquire ratings from Moody's or S&P. Additionally, the firm's financial profile does not affect its choice to seek out ratings from global raters. Our findings are contradictory to those by Han, Pagano, and Shin (2012), who employ bonds issued by non-financial firms in Japan. Our conjecture is that the asymmetric nature of financial firms makes investors less likely to depend on a credit risk assessment by rating agencies in determining the yields of new bonds.

• Journal of Technology Innovation
• /
• v.26 no.2
• /
• pp.129-149
• /
• 2018

Technology finance is an area in which financial authorities have introduced and implemented a strong policy will for the advancement of the financial industry and the development of SMEs. As a result, the Bank's own technology evaluation was conducted from September 2016. Technically superior companies are upgrading their credit ratings, and as a result, they benefit from financial transactions as much as their higher credit ratings through technology evaluation. Based on the data generated during this process, we analyze the degree to which credit ratings was upgraded by technology evaluation. The pre study handles 406 data from KEB Hana Bank's technology evaluation conducted in the second half of 2016. As a result of combining the credit rating with the calculated technology rating, J58 'Publishing Activities' technology-credit rating is raised by 1.05 rating, which is the highest, and C10 'Manufacture of Food Products' is the second highest. As a result, we were able to identify the sectors that benefited from the technology evaluation and confirmed the usefulness of technology evaluation by industry(KSIC). To expanding the study, 2,719 companies evaluated during the entire period were analyzed by technology grade, business experience and promising growth industry code. As a result of the analysis, technological power over T-4 grade companies had the highest credit rating upgrades. The companies belonging to promising growth industries designated for efficiency of policy support, it is confirm that the support of the promising business type was useful because the credit grade was upgraded through technology evaluation. The validity of the technology evaluation based on the five-year business experience was found to be insignificant. In the future, it will be possible to maximize the support effect by concentration on the companies with over T-4 grade and growth potential companies when supporting SMEs.