• Environmental and Resource Economics Review
• /
• v.19 no.4
• /
• pp.753-769
• /
• 2010

This study empirically analyzes the comparative advantages between separate hedging and complex hedging in terms of hedging effectiveness when there exist multiple risks of LNG price and exchange rate. According to the empirical ex-ante analysis, the mean of procurement costs could be reduced through hedging regardless of hedging type. In addition, the standard deviation of procurement costs could also be reduced by way of hedging, implying that a hedging should contribute to the stabilization of revenue flows. More importantly, complex hedging could be more effective for some hedging periods than separate hedging in terms of revenue stabilization. Therefore, one could verify that the hedging effects improve by making use of the variance-covariance relationship existing between commodity price and exchange rate.

• Environmental and Resource Economics Review
• /
• v.16 no.4
• /
• pp.855-872
• /
• 2007

This study suggests an imported coal procurement model that simultaneously considers the risk factors of coal price, ocean freight rate and foreign exchange rate. In addition, it quantitatively analyses the superiority of this model compared to the previous one m terms of procurement cost saving and stabilization. According to the empirical results, a separate hedging could stabilize the procurement cost flow, but this is not the end of story. That is, a complex hedging would reduce the standard deviations of cost flow. Thus, one could improve hedging effects by fully considering the inherent variance-covariance relationship among coal price, ocean freight rate and foreign exchange.

• Proceedings of the Korean Operations and Management Science Society Conference
• /
• 1996.04a
• /
• pp.377-380
• /
• 1996

Most manufacturing systems are large and complex. It is natural to divide the control into a hierarchy consisting of a number fo different levels. Each levels is characterized by the length of the planning horizon and the kind of data required for the decision making process. This paper describes an approach for the incorporation of Maintenance times into a hierachical scheduling for a failure prone flexible manufacturing system. The Maintenance should not be performed too often because of the resulting reduction of capacity. The machine failure and preventive maintenance are considered simultaneously.

• The Journal of the Convergence on Culture Technology
• /
• v.6 no.1
• /
• pp.381-388
• /
• 2020

This paper discusses English Hedges or Hedging Expressions on the basis of their morphosyntactic-pragramatic properties within the perspective of sociolinguistics. The term, 'Hedges' for the past decades since Lakoff(1973), has received little attention from the English grammar circles such as morphosyntax and the generative grammar theories. This paper presents a more comprehensive approach to the identification, distributions, functions, and the morphosyntactic properties of English Hedges. The earlier research on English Hedges in the 70's show that hedges are metalinguistic or mitadiscourse expressions which constitute a means for executing Politeness strategy in pragmatics. Nonetheless, research from the interface of syntactic-pragmatics has been scarce. This article suggests a more complex body of English hedges that have not been extensively discussed in the literature. Additionally, their configurational domain is to be proposed as part of the PolP with [±hedged] above CP⁺ (or CP beyond). The ramifications of the current study are suggested in terms of comparative linguistics, EFL/ESL studies of English for global communication, and pragmatics-sensitive machine translation studies in the forseeable future.