• Title/Summary/Keyword: default event

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Tasi vs. Tto (‘다시’와 ‘또’)

  • Yoon, Jae-Hak
    • Language and Information
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    • v.11 no.2
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    • pp.1-22
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    • 2007
  • This paper examines tasi and tto, two Korean adverbs with roughly the same semantic value of again. It presents two empirical generalizations: (i) semantically tasi can mark the recovery of the original state, modifying an eventuality that is token-identical to a contextually-given eventuality, whereas tto is only limited to mark a simple repetition, thus modifying a type-identical event; (ii) functionally tasi can modify result states, but tto cannot. Then, it illustrates how the functional difference of result state modification can be accounted for by the notion of default events.

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Machine learning-based corporate default risk prediction model verification and policy recommendation: Focusing on improvement through stacking ensemble model (머신러닝 기반 기업부도위험 예측모델 검증 및 정책적 제언: 스태킹 앙상블 모델을 통한 개선을 중심으로)

  • Eom, Haneul;Kim, Jaeseong;Choi, Sangok
    • Journal of Intelligence and Information Systems
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    • v.26 no.2
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    • pp.105-129
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    • 2020
  • This study uses corporate data from 2012 to 2018 when K-IFRS was applied in earnest to predict default risks. The data used in the analysis totaled 10,545 rows, consisting of 160 columns including 38 in the statement of financial position, 26 in the statement of comprehensive income, 11 in the statement of cash flows, and 76 in the index of financial ratios. Unlike most previous prior studies used the default event as the basis for learning about default risk, this study calculated default risk using the market capitalization and stock price volatility of each company based on the Merton model. Through this, it was able to solve the problem of data imbalance due to the scarcity of default events, which had been pointed out as the limitation of the existing methodology, and the problem of reflecting the difference in default risk that exists within ordinary companies. Because learning was conducted only by using corporate information available to unlisted companies, default risks of unlisted companies without stock price information can be appropriately derived. Through this, it can provide stable default risk assessment services to unlisted companies that are difficult to determine proper default risk with traditional credit rating models such as small and medium-sized companies and startups. Although there has been an active study of predicting corporate default risks using machine learning recently, model bias issues exist because most studies are making predictions based on a single model. Stable and reliable valuation methodology is required for the calculation of default risk, given that the entity's default risk information is very widely utilized in the market and the sensitivity to the difference in default risk is high. Also, Strict standards are also required for methods of calculation. The credit rating method stipulated by the Financial Services Commission in the Financial Investment Regulations calls for the preparation of evaluation methods, including verification of the adequacy of evaluation methods, in consideration of past statistical data and experiences on credit ratings and changes in future market conditions. This study allowed the reduction of individual models' bias by utilizing stacking ensemble techniques that synthesize various machine learning models. This allows us to capture complex nonlinear relationships between default risk and various corporate information and maximize the advantages of machine learning-based default risk prediction models that take less time to calculate. To calculate forecasts by sub model to be used as input data for the Stacking Ensemble model, training data were divided into seven pieces, and sub-models were trained in a divided set to produce forecasts. To compare the predictive power of the Stacking Ensemble model, Random Forest, MLP, and CNN models were trained with full training data, then the predictive power of each model was verified on the test set. The analysis showed that the Stacking Ensemble model exceeded the predictive power of the Random Forest model, which had the best performance on a single model. Next, to check for statistically significant differences between the Stacking Ensemble model and the forecasts for each individual model, the Pair between the Stacking Ensemble model and each individual model was constructed. Because the results of the Shapiro-wilk normality test also showed that all Pair did not follow normality, Using the nonparametric method wilcoxon rank sum test, we checked whether the two model forecasts that make up the Pair showed statistically significant differences. The analysis showed that the forecasts of the Staging Ensemble model showed statistically significant differences from those of the MLP model and CNN model. In addition, this study can provide a methodology that allows existing credit rating agencies to apply machine learning-based bankruptcy risk prediction methodologies, given that traditional credit rating models can also be reflected as sub-models to calculate the final default probability. Also, the Stacking Ensemble techniques proposed in this study can help design to meet the requirements of the Financial Investment Business Regulations through the combination of various sub-models. We hope that this research will be used as a resource to increase practical use by overcoming and improving the limitations of existing machine learning-based models.

Decentralized Supervision with Coordinator of Discrete Event Systems (Coordinator를 이용한 이산사건시스템의 분산관리제어)

  • 김성규;임종태
    • 제어로봇시스템학회:학술대회논문집
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    • 2000.10a
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    • pp.35-35
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    • 2000
  • In this paper, we introduce a conservative control approach using a full feedback map and suggest a switching control between the conservative and default control. For the conservative control, we use the coordinator which performs the conjunction operation of the full feedback map information of local supervisors. Since the switching control with the coordinator extends the ability of local supervisors in the decentralized supervisory control, we can solve the problem in case the coobservability condition can not be satisfied.

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Choice versus Given: Influence of Choice on Effectiveness of Retailers' Sweepstakes Promotion

  • Meeja IM
    • Journal of Distribution Science
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    • v.21 no.6
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    • pp.39-49
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    • 2023
  • Purpose: This paper aims to investigate the influence of different methods of distributing sweepstakes (i.e., whether consumers choose to enter into the sweepstakes themselves or they are given the sweepstake ticket by default) on the effectiveness of the sweepstakes promotion (i.e., interest in the sweepstakes and intention to participate in the sweepstakes). Research design, data and methodology: The paper verifies this effect through three experimental studies: an online experiment using a sweepstakes promotion scenario at a department store, an online SNS sweepstakes promotion event, and a face-to-face card lottery game. Results: Participants belonging the group that chose sweepstakes tickets by themselves showed higher interest and intention to participate in the sweepstakes than those who were given the sweepstakes ticket by default. Furthermore, the group that chose the sweepstakes card thought it had a higher probability of winning than the group given the sweepstakes card. Conclusions: This paper shows a way to enhance the promotional effect of sweepstakes in the retail stores, without incurring additional costs, by approaching from sweepstakes design from the psychological perspective of the consumer. The study also sheds new light on the effect of sense of control manipulation using choice behavior in the promotional context.

ESTIMATION OF LONG-TERM POLLUTANT REMOVAL EFFICIENCIES OF WET RETENTION/DETENTION BASINS USING THE WEANES MODEL

  • Youn, Chi-Hyueon;Pandit, Ashok;Cho, Han-Bum
    • Proceedings of the Korea Water Resources Association Conference
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    • 2005.05b
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    • pp.215-219
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    • 2005
  • A macro spreadsheet model, WEANES (Wet Pond Annual Efficiency Simulation Model), has been developed to predict the long-term or annual removal efficiencies of wet retention/detention basins. The model uses historical, site-specific, multi-year, rainfall data, usually available from a nearby National Oceanic and Atmospheric Administration (NOAA) climatological station to estimate basin efficiencies which are calculated based on annual mass loads. Other required input parameters are: 1) watershed parameters; drainage area, pervious curve number, directly connected impervious area, and ti me of concentration, 2) pond parameters; control and overflow elevations, pond side slopes, surface areas at control elevation and pond bottom; 3) outlet structure parameters; 4) pollutant event mean concentrations; and 5) pond loss rate which is defined as the net loss due to evaporation, infiltration and water reuse. The model offers default options for parameters such as pollutant event mean concentrations and pond loss rate. The model can serve as a design, planning, and permitting tool for consulting engineers, planners and government regulators.

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A Study on the Interpretation Trend of Current Cases for Warranty in U.S.A (미국의 Warranty 제도와 관련된 판례동향 연구)

  • Cho, Young-Jun
    • Journal of the Korea Institute of Building Construction
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    • v.10 no.1
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    • pp.101-109
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    • 2010
  • Under the Civil Code and related law in Korea, the liability for defects after delivery belongs to the Contractor. However, various disputes have occurred in relation to the remedy of such defects and the compensation for damages, which are the main liability of a contractor in the event of defects. Despite court decisions regarding defect liability, many problems prevail in the real world. For this reason, this working-level research considers the introduction of a performance warranty contract system. To establish the system successfully, it is necessary to analyze the trend of various warranty cases in the US. Therefore, the warranty system of the US was first examined, and the effect of acceptance, notification and burden of proof, remedies under warranty clauses, and default termination were investigated and analyzed in this study.

Convention on International Interests in Mobile Equipment

  • Suk, Kwang-Hyun
    • THE INTERNATIONAL COMMERCE & LAW REVIEW
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    • v.13
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    • pp.69-81
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    • 2000
  • Under the co-sponsorship of UNIDROIT and I.C.A.O., a preliminary draft Convention on International Interests in Mobile Equipment and a preliminary draft Protocol on Matters Specific to Aircraft Equipment has been prepared. The purpose of the Convention is to provide for the creation and effect of a new international interest in mobile equipment. The Convention's approach is quite novel in that it purports to create an international interest based upon the convention itself. The Convention is intended to be supplemented by Protocols, each of is intended to provide equipment-specific rules necessary to adapt the rules of the Convention to fit the special pattern of financing for different categories of equipment. To date, two sessions of governmental experts were held in Rome and Montreal. Korean delegations attended the two sessions. One of the members of the Korean delegation published a report on the first session. He expressed his objection to the so called self-help remedy contemplated by the current preliminary draft of the Convention which enables the holder of a security interest to repossess and dispose of the subject of the security interest by private sale rather than public auction on the occurrence of an event of default of the debtor. His view is based upon his understanding that under Korean law, the only remedy available to the holder of a security interest in mobile equipment, such as an airplane, is to apply to the competent court for a public auction. In my view, his understanding is not quite correct and is inconsistent with the current practice in Korea. Under Korean law, the parties' agreement for private sale is in principle valid unless there is an interested party who has acquired a security interest after the creation of the prior security interest or a creditor who has caused the subject of the security interest to be attached by a competent court. In this article, I discuss the current Korean law and practice relating to the enforcement of security interests by private sale in more detail.

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Supporting WebDAV-based Remote Workspaces for Eclipse IDE (이클립스 통합 개발 환경에서의 WebDAV 기반 원격작업공간 지원)

  • Kim, Seong-Hune;Lee, Hong-Chang;Lee, Myung-Joon
    • Journal of Internet Computing and Services
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    • v.9 no.4
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    • pp.97-114
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    • 2008
  • Eclipse is an open integrated environment for software development, rapidly emerging as the de facto standard for developing java applications. Also, it is easily extensible since new functions for the environment can be added through the installation of various plug-in modules. WebDAV is an IETF standard protocol, which is an extended version of HTTP 1.1, supporting asynchronous collaborative authoring of various contents on the web. In this paper, we describe the development of the DAVSpace plug-in which enables programmers to use remote workspaces offered by WebDAV servers as project workspaces for software development in Eclipse. Based on the WebDAV protocol, DAVSpace supports the management of resources on the remote workspaces associated with projects in Eclipse. Using DAVSpace, we can create a project in Eclipse on a designated remote workspace in addition to the default local workspace. Whenever an event for storing a resource is generated, DAVSpace stores the resource into both workspaces. Thanks to DAVSpace, developers can effectively proceed their projects regardless of where they are located.

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Contribution analysis of carcass traits and seasonal effect on auction price for Hanwoo steers

  • Kang, Tae Hun;Cho, Seong-Keun;Seo, Jakyeom;Kim, Myunghoo;Kim, Byeong-Woo
    • Korean Journal of Agricultural Science
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    • v.46 no.3
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    • pp.461-469
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    • 2019
  • The aim of this study was to analyze the contribution of carcass traits (backfat thickness, eye muscle area, carcass weight and marbling score) and the season at slaughter to the price (auction and market) using squared semi-partial correlation. The season at slaughter (summer expressed as season_2, autumn as season_3, and winter as season_4) were added into the estimation as dummy variables, and spring was set as a default variable. In this study, the carcass grades of 22,298 Hanwoo steers slaughtered from 2012 to 2017 were used to performmultiple regression analysis. The rankings of the contribution of the carcass traits and the seasons at slaughter to the auction prices were in the order of marbling score (68.63%), season_4 (11.88%), backfat thickness (10.45%), eye muscle area (6.11%), season_3 (2.19%), season_2 (0.45%) and carcass weight (0.28%). (R-square of the regression = 0.4101). The rankings of the contribution to the total prices were in the order of carcass weight (51.74%), marbling score (32.12%), season_4 (6.04%), backfat thickness (5.54%), eye muscle area (3.22%), season_3 (1.14%), and season_2 (0.19%). (R-Square of the regression = 0.6486). As a result, season_3 and season_4 had a negative effect on the auction price and total price. Because of seasonal event such as Korean Thanksgiving Day and Korean New Year's Day on season_3 and season_4, much supply was needed to meet the high demand. Thus, the seasonal effect at slaughter could be another factor to be cosideredin when considering of slaughter or breeding.

Study on Practical Use of Air Vehicle Test Equipment(AVTE) for UAV Operation Support (무인항공기 운용 지원을 위한 비행체 점검장비 활용에 관한 연구)

  • Song, Yong-Ha;Go, Eun-kyoung;Kwon, Sang-Eun
    • Journal of the Korea Institute of Information and Communication Engineering
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    • v.25 no.2
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    • pp.320-326
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    • 2021
  • AVTE(Air Vehicle Test Equipment) is an equipment to inspect and check the status of on-board aircraft LRUs(Line Replacement Units) before and after flight for performing successful UAV(Unmanned Aerial Vehicle) missions. This paper suggests utilization of the AVTE as an operation support-equipment by implementing several critical functions for UAV-operation on the AVTE. The AVTE easily sets initialization(default) data and compensates for the installation and position errors of the LRUs which provide critical mission data and situation image with pilots without additional individual operation support-equipment. Major fault list and situation image data could be downloaded after flight using the AVTE in the event of UAV emergency situation or unusual occurrence on duty as well. We anticipate the suggested operational approach of the AVTE could dramatically reduce the cost and man power for design and manufacture of additional operation support equipment and effectively diminish workload of the operator.