• The Korean Journal of Financial Management
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• v.8 no.2
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• pp.165-208
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• 1991

This paper develops an intertemporal general equilibrium model of asset pricing with taxes under the noisy and the incomplete information structure and examines theoretically the stochastic behavior of general equilibrium asset prices in a one-good, production, and exchange economy in continuous time markets. The important features of the model are its integration of real and financial markets and the analysis of the effects of differential tax rates between ordinary income and capital gains. The model developed here can provide answers to a wide variety of questions about stochastic structure of asset prices and the effect of tax on them.

• The Korean Journal of Financial Management
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• v.8 no.2
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• pp.209-255
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• 1991

This paper develops a simple model to explain the reasons why foreign acquirers pay significantly higher premiums for U.S. target firms than do U.S. buyers. We also provide empirical work on the valuation effect of foreign takeovers and the determinants of the wealth gains of U.S. target shareholders involved in foreign takeovers. The results indicate that target wealth gains are significantly higher in foreign takeovers than in domestic takeovers, after controlling for the wealth effects of payment method, acquisition type, tax status, size and time period of bids. This confirms the valuation effect of foreign takeovers. Furthermore, the results of cross-sectional regression analysis show that the variation in U.S. target wealth gains is explained by extra tax benefits stemming from double tax deductions for acquisition-related interest expenses incurred by foreign acquirers. These findings imply that differential taxation across tax jurisdictions is the main source of the valuation effect of foreign takeovers. In addition, we find that there exists a valuation effect of the nationality of the foreign acquirers. Japanese companies pay significantly higher premiums than do non-Japanese acquirers. The finding also indicates that competition among bidders increases the abnormal returns to U.S. target shareholders in foreign takeovers.

• Structural Engineering and Mechanics
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• v.38 no.1
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• pp.39-63
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• 2011

Referring to the formulation of physical stochastic optimal control of structures and the scheme of optimal polynomial control, a nonlinear stochastic optimal control strategy is developed for a class of structural systems with hysteretic behaviors in the present paper. This control strategy provides an amenable approach to the classical stochastic optimal control strategies, bypasses the dilemma involved in It$\hat{o}$-type stochastic differential equations and is applicable to the dynamical systems driven by practical non-stationary and non-white random excitations, such as earthquake ground motions, strong winds and sea waves. The newly developed generalized optimal control policy is integrated in the nonlinear stochastic optimal control scheme so as to logically distribute the controllers and design their parameters associated with control gains. For illustrative purposes, the stochastic optimal controls of two base-excited multi-degree-of-freedom structural systems with hysteretic behavior in Clough bilinear model and Bouc-Wen differential model, respectively, are investigated. Numerical results reveal that a linear control with the 1st-order controller suffices even for the hysteretic structural systems when a control criterion in exceedance probability performance function for designing the weighting matrices is employed. This is practically meaningful due to the nonlinear controllers which may be associated with dynamical instabilities being saved. It is also noted that using the generalized optimal control policy, the maximum control effectiveness with the few number of control devices can be achieved, allowing for a desirable structural performance. It is remarked, meanwhile, that the response process and energy-dissipation behavior of the hysteretic structures are controlled to a certain extent.

• The Journal of Korean Institute of Communications and Information Sciences
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• v.35 no.5A
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• pp.440-446
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• 2010

Convergence of IT and BT is considered in many area, especially in medical care industry. The example of this trend is a capsule endoscope. But in a capsule endoscope, communication through human body has a few restrictions. At first, the transmit power should be limited not to have a bad effect on human organs and for the battery capacity. Second, the channel characteristic of human body has not been examined exactly. Third, general modulation / demodulation techniques which require a channel estimation cannot be used because of battery limit. There also may be a lot of interference signals because a capsule endoscope uses UWB bandwidth. In this paper, we introduce Chirp Spread Spectrum Differential Binary Phase Shift Keying(CSS-DBPSK) and propose Chirp Spread Spectrum On-Off Keying(CSS-OOK) which don't require a channel estimation and robust to interference signals. Using CSS-DBPSK or CSS-OOK, we can get 5 dB or 2~3 dB of Eb/N0 gain at 10-5 target BER. And if there are interference signals, those gains of CSS-DBPSK and CSS-OOK are increased.

• Journal of the Korean Institute of Intelligent Systems
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• v.13 no.5
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• pp.582-589
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• 2003

This paper presents the robust stability analysis and design methodology of the fuzzy feedback linearization control systems. Uncertainty and disturbances with known bounds are assumed to be included Un the Takagi-Sugeno (TS) fuzzy models representing the nonlinear plants. $L_2$ robust stability of the closed system is analyzed by casting the systems into the diagonal norm bounded linear differential inclusions (DNLDI) formulation. Based on the linear matrix inequality (LMI) optimization programming, a numerical method for finding the maximum stable ranges of the fuzzy feedback linearization control gains is also proposed. To verify the effectiveness of the proposed scheme, the robust stability analysis and control design examples are given.

• The Transactions of The Korean Institute of Electrical Engineers
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• v.57 no.6
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• pp.915-923
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• 2008

This paper focuses on optimal tuning of nonlinear parameters of a dual-input power system stabilizer(dual-input PSS), which can improve the system damping performance immediately following a large disturbance. Until recently, various PSS models have developed to bring stability and reliability to power systems, and some of these models are used in industry applications. However, due to non-smooth nonlinearities from the interaction between linear parameters(gains and time constants of linear controllers) and nonlinear parameters(saturation output limits), the output limit parameters cannot be determined by the conventional tuning methods based on linear analysis. Only ad hoc tuning procedures('trial and error' approach) have been used. Therefore, the steepest descent method is applied to implement the optimal tuning of the nonlinear parameters of the dual-input PSS. The gradient required in this optimization technique can be computed from trajectory sensitivities in hybrid system modeling with the differential-algebraic-impulsive-switched(DAIS) structure. The optimal output limits of the dual-input PSS are evaluated by time-domain simulation in both a single machine infinite bus(SMIB) system and a multi-machine power system in comparison with those of a single-input PSS.

• Asian Pacific Journal of Cancer Prevention
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• v.17 no.5
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• pp.2527-2533
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• 2016

Sensitising cancer cells and at the same time desensitizing normal cells is a double task in cancer management. Agents which can combat the debilitating side effects of cancer therapeutics and simultaneously synergize with anticancer agents in specifically targeting cancer cells are needed. Selenium, a proven anticarcinogen, gains due importance in terms of its efficacy to combat the side effects of cancer therapy. This study is a comparative analysis of the chemoprotective effects of selenium compounds, methyl selenol (generated from organic selenomethionine (5mmol/L ; METase 40U/L)) and sodium selenite (inorganic form)($30{\mu}M$) in peripheral blood human lymphocytes exposed to cisplatin and mitomycin. Biochemical alterations occurring in many cells during apoptosis include loss of plasma membrane phospholipid asymmetry, DNA fragmentation, and activation of caspase-3. The present study demonstrated that the selenium metabolite and selenite are efficient in protecting lymphocytes undergoing DNA damage and exerted their activity by reducing caspase 3 expression. Interestingly organic methylselenol (MeSe) was found to offer more protective effects compared to inorganic selenite (SeL), by reducing the induction of apoptosis by the cytotoxic agents. This suggests that MeSe and to a lesser extent selenite might have potential for assessment in clinical trials and could be considered as strong candidates in pharmacogenomics or in the nutriprotective arena.

• KSII Transactions on Internet and Information Systems (TIIS)
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• v.13 no.11
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• pp.5489-5511
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• 2019

The performance of evolutionary algorithms can be seriously weakened when constraints limit the feasible region of the search space. In this paper we present a constrained multi-objective optimization algorithm based on adaptive ε-truncation (ε-T-CMOA) to further improve distribution and convergence of the obtained solutions. First of all, as a novel constraint handling technique, ε-truncation technique keeps an effective balance between feasible solutions and infeasible solutions by permitting some excellent infeasible solutions with good objective value and low constraint violation to take part in the evolution, so diversity is improved, and convergence is also coordinated. Next, an exponential variation is introduced after differential mutation and crossover to boost the local exploitation ability. At last, the improved crowding density method only selects some Pareto solutions and near solutions to join in calculation, thus it can evaluate the distribution more accurately. The comparative results with other state-of-the-art algorithms show that ε-T-CMOA is more diverse than the other algorithms and it gains better in terms of convergence in some extent.

• Journal of Fisheries and Marine Sciences Education
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• v.17 no.3
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• pp.340-360
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• 2005

Fishery resource rents(i.e. windfall gains or excess profit), which tend to lead a variety of important economic, social, political problems, have been a fundamental cause of unbalance between fishery resource use and management. Thus, there may exist several sorts of optimal level of resource utilization such as economic maximum sustainable yield, biological maximum sustainable yield, social optimum production, socio-political optimum yield, etc. The fishery resource use level seems to a large extent to be determined by the characteristics of fishermen's rent seeking structure. As well known, fishery resources as common properties have a characteristic of being difficult to establish private property rights. Therefore, their use rights are controlled by the permit and/or the license system. As a result, absolute or differential rents are formed by the changes in institutional arrangements. Rent problems are often transformed into serious socio-political issues when the rent in a given industry is much higher to a socially unacceptable extent than the average of other industries. However, individual fishermen or fishermen's groups tend to behave aggressively to change the existing fishery institutions towards maximizing fishery rents. These rent-seeking behaviors often tend to nullify fishery management schemes. The larger is the relative rent difference between fisheries and other industries, the more aggressive tend to be the rent-seeking behaviors in fisheries.

• Asia pacific journal of information systems
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• v.27 no.4
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• pp.191-215
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• 2017

This study investigated the antecedents and the performance impact of two types of Smartphone functions (communication vs. computing functions) in organizational environment and the moderating impact of Smartphone users' organizational roles. More specifically, identifying two distinct types of Smartphone functions such as communication functions and computing functions (including informational, social network, and resource management functions), we investigated the impact of three antecedents (Smartphone dependency, task mobility, and perceived critical mass) on the use of the two Smartphone functions and how organizational workers' perceived performance gains differ by using these two different Smartphone functions for their workplace activities. We tested our hypotheses with survey data collected from 176 organizational workers. Our findings suggest that Smartphone dependency, task mobility and perceived critical mass of Smartphone use are significantly associated with the use of the two different functions, and that the use of computing functions is more strongly associated with perceived performance gain than the use of communication functions. We also found that managerial roles played by individual workers differently moderate the impact of Smartphone use on perceived performance gain. The present findings enable researchers and practitioners to better understand the impact of Smartphone use in workplaces.