• 수산경영론집
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• 제52권1호
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• pp.47-63
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• 2021

The purpose of this study is to identify the leading price between Jeju and Wando's oliver flounder producer price and to analyze the dynamic effect of the regional producer price using the panel VAR model. In the process of analysis, it was confirmed that there are unit roots in the monthly data of Jeju and Wando's oliver flounder producer price. So, in order to avoid spurious regression, the rate change of producer price which carries out log difference was used in the analysis. As a result of the analysis, first, the panel Granger causality test showed that the influence of the change rate of producer price in oliver flounder in Jeju was slightly larger than that in Wando, but it was found that each region all leads the change rate of the producer price in oliver flounder. Second, the panel VAR estimation showed that the rate change of producer price in Jeju and Wando a month ago had a statistically significant effect on the change rate of producer price of each region. Third, the impulse response analysis indicated that other regions are affected a little more than the same region in case of the occurrence of the impact on the error terms of the change rate of produce price in Jeju and Wando oliver flounder. Fourth, the variance decomposition analysis showed that the change rate of producer price in the two regions was higher explained by Jeju compared to Wando. In conclusion, it is expected that the above results can not only be useful as basic data for the stabilization of oliver flounder producer price and the establishment of policies for easing volatility but can also help the oliver flounder industry operate its business.

• Steel and Composite Structures
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• 제16권4호
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• pp.389-415
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• 2014

This study deals with dynamic model of composite sandwich panels with functionally graded flexible cores under low velocity impacts of multiple large or small masses using a new improved higher order sandwich panel theory (IHSAPT). In-plane stresses were considered for the functionally graded core and face sheets. The formulation was based on the first order shear deformation theory for the composite face sheets and polynomial description of the displacement fields in the core that was based on the second Frostig's model. Fully dynamic effects of the functionally graded core and face-sheets were considered in this study. Impacts were assumed to occur simultaneously and normally over the top and/or bottom of the face-sheets with arbitrary different masses and initial velocities. The contact forces between the panel and impactors were treated as internal forces of the system. Nonlinear contact stiffness was linearized with a newly presented improved analytical method in this paper. The results were validated by comparing the analytical, numerical and experimental results published in the latest literature.

• 한국콘크리트학회:학술대회논문집
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• 한국콘크리트학회 1993년도 봄 학술발표회 논문집
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• pp.148-153
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• 1993

The paper presents the results of shaking table test conducted on the 1/3.3 scaled large concrete panel model. The behaviors of large concrete panel structures subjected to seismic excitations are controlled by capacity of horizontal and vertical joints. To Study the seismic capacity of the large concrete panel structures, experimental researches for joints and structural assemblage are needed. Especially, since the magnitude of seismic loads are depended on the variation of time, period and accelerations, dynamic test is needed for estimating the seismic resistance of large concrete panel structures. The objective of this paper is to study the behaviors of large concrete panel structures on seismic excitations and to estimate the safety. Test results are as follows : 1) Test model was critically damaged in the first floor horizontal joint by rocking. 2) Elastic limit(0.12kg) of test model was 5times higher than that of korean seismic design code. 3) Maxium base shear of test model at the ground acceleration of 0.12g was 3.5 times higher than the result of equivalent static analysis. 4) Damping ratio of test model turned out 3.9~5.3% and the period at 0.12g was 0.065sec.

• 경영과정보연구
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• 제37권2호
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• pp.209-233
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• 2018

본 연구는 정치 경제 요인이 재생에너지 기술의 수출에 미치는 영향을 분석하였다. 실증분석은 1992년부터 2012년까지의 OECD 19개 회원국의 패널 자료를 이용하였다. 실증모델을 설정하기 전 데이터의 특성 파악을 위한 다양한 패널 프레임워크 분석(정규성, 구조변화, 1차 자기상관, 패널 이분산성, 패널 개체 간 상호의존성, 패널 단위근 검정)을 수행하였다. 패널 프레임워크 분석결과를 고려하여 데이터 특성에 부합하는 실증모형을 설정하고, 동태 패널 모델의 편의를 최소화하기 위해 Bias-corrected Least Square Dummy Variable Estimator(LSDVC)를 추정하였다. 분석결과, 공식적인 강제압력으로 표출되는 정부의 수요견인정책과 경쟁압력을 표출되는 시장매력도는 재생에너지 기술의 수출신장에 통계적으로 유의한 정(+)의 영향을 미쳤다. 그렇지만, 정치요인 중 규범적 압력으로 표출되는 전통에너지산업의 주도와 비공식적인 강제압력으로 표출되는 공공압력은 재생에너지 기술의 수출에 통계적으로 유의한 영향을 미치지 못하는 것으로 나타났다. 본 연구의 결과에 기초하여 재생에너지 산업의 성장과 수출 촉진과 관련된 시사점을 제공하였다.

• Steel and Composite Structures
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• 제30권3호
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• pp.217-230
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• 2019

One of the most important design criteria in underground structure is to design lightweight protective layers to resist significant blast loads. Sandwich blast resistant panels are commonly used to protect underground structures. The front face of the sandwich panel is designed to resist the blast load and the core is designed to mitigate the blast energy from reaching the back panel. The design is to allow the sandwich panel to be repaired efficiently. Hence, the underground structure can be used under repeated blast loads. In this study, a novel sandwich panel, named RC panel - Helical springs- RC panel (RHR) sandwich panel, which consists of normal strength reinforced concrete (RC) panels at the front and the back and steel compression helical springs in the middle, is proposed. In this study, a detailed 3D nonlinear numerical analysis is proposed using the nonlinear finite element software, AUTODYN. The accuracy of the blast load and RHR Sandwich panel modelling are validated using available experimental results. The results show that the proposed finite element model can be used efficiently and effectively to simulate the nonlinear dynamic behaviour of the newly proposed RHR sandwich panels under different ranges of free air blast loads. Detailed parameter study is then conducted using the validated finite element model. The results show that the newly proposed RHR sandwich panel can be used as a reliable and effective lightweight protective layer for underground structures.

• 산경연구논집
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• 제8권1호
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• pp.5-13
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• 2017

Purpose - In this article, a dynamic model like a VAR is an appropriate choice for estimating the possible interrelationship between ownership structure and firm performance as a dynamic process. Research design, data, and methodology - Data of this work are collected from Chinese stock exchange including 350 Chinese-listed firms during the period of 1999-2012. We hypothesize that this interrelationship dynamically exists between ownership structure and firm performance. To examine the correlation, a panel Vector Auto-regression (PVAR) approach generated by GMM method is utilized to test the possible dynamic relation embedded in corporate governance. Another two dynamic analysis solutions such as orthogonalized impulse-response function and variance decomposition are also used simultaneously. Results - Findings of this study indicate the evidence that dynamically endogenous relationship exists between ownership structure and firm performance. Further, there is a dynamical correlation between investment and performance. Impulse response and variance decomposition illustrate that impact of a shock to variables themselves is the main source for their variability. Conclusions - The conclusion in this study is that there is a bidirectional and inter-temporal effect between proportion of ownership and corporate performance for a long run in accordance with impulse response function. Overall, our results suggest that corporate governance in China is more market oriented.

• 국제지역연구
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• 제21권4호
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• pp.19-39
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• 2017

본 연구는 교역조건 수준과 변동성이 실질 GDP 및 인플레이션에 미치는 영향을 분석하기 위해 OECD 26개국을 대상으로 1990년부터 2015년까지 실질 GDP, 인플레이션, 교역조건 등의 자료를 이용해 선형패널 및 동태패널모형을 설정하여 추정하였다. 분석결과 교역조건 수준과 변동성은 실질 GDP에 거의 영향을 미치지 않거나 통계적으로 유의하게 음(-)의 영향을 미치더라도 크기는 매우 작아 무시할 정도였다. 반면 교역조건 수준과 변동성은 모든 모형에서 동일한 결과를 얻은 것은 아니지만 대체로 인플레이션에 양(+)의 영향을 미치는 것으로 분석되었다. 교역수준의 상승은 경상수지 흑자 또는 구매력을 상승시켜 총수요 증가를 통해 인플레이션을 야기하고 교역조건 변동성의 상승은 경제 내 불확실성을 확대시켜 불완전경쟁에 직면한 기업들로 하여금 현재 가격을 인상하도록 하여 인플레이션을 야기하는 것으로 판단된다.

• 국제지역연구
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• 제22권3호
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• pp.67-84
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• 2018

본 연구는 BS(Balassa-Samuelson)효과가 장기 실질환율 변화를 설명할 수 있는지를 실증적으로 분석하는 데 있다. 이를 위해 1995년부터 2015년까지 OECD 25개 회원국(기준국 미국 제외)을 대상으로 패널자료를 구축하고 단위근 및 공적분검정을 통해 자료의 안정성을 검토하여 공적분 관계가 존재할 경우 추정모형을 설정하여 장기균형식을 추정하였다. 관련 변수들에 대한 패널 단위근 및 공적분검정을 실시한 결과 실질환율을 제외한 모든 변수들이 단위근을 가지고 있어 불안정적 시계열로 나타났으며 관련 변수들 간에 공적분 관계 즉 안정적인 균형관계가 존재하는 것으로 분석되었다. 동태최소자승법(Dynamic Ordinary Least Square, 이하 DOLS) 및 오차수정모형(Error-Correction Model, 이하 ECM)을 이용해 장기균형식을 추정한 결과 대체로 이론에서 예측하는 BS효과를 얻었으나 그 효과는 크지 않은 것으로 분석되었다. 특히 노동생산성이 실질환율에 직접 미치는 효과는 작았거나 통계적으로 유의하지 않았다. 그러나 교역재에 대한 비교역재 상대가격은 통계적으로 유의하게 실질환율에 영향을 미쳤으며 이론이 예측하는 바와 동일했다. 상대노동생산성이 상대가격에 미치는 효과는 분명하지 않았다. 한편 교역조건을 설명변수에 포함하여 추정한 결과 이론에서 예측하는 바와 동일한 결과를 얻었으며 모두 통계적으로 유의한 수준에서 교역조건이 실질환율 변화를 설명하는 데 중요한 변수라는 결과를 도출했다.

• 부동산연구
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• 제27권1호
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• pp.33-44
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• 2017

최근 중국은 부동산 가격이 급격히 상승하고 있으며, 인플레이션이 부동산 가격의 상승을 유발시킨다는 주장이 제기되고 있다. 따라서 본 연구에서는 2006-2014년의 중국 성별 패널 자료를 이용하여 인플레이션이 중국 부동산시장의 버블에 미치는 영향을 분석하였다. 분석방법은 정태 및 동태(static and dynamic) 패널 데이터 모델을 사용하였다. 본 연구의 분석결과, 인플레이션이 중국 부동산 버블형성의 주요 원인이며 중국 동부지역에서 그 영향이 더욱 뚜렷하게 나타남을 확인할 수 있었다. 우리는 더불어 중국부동산거품이 일정 정도 시장자체조정기제의 영향을 받았다는 흥미로운 현상을 발견했다.

• The Journal of Asian Finance, Economics and Business
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• 제8권5호
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• pp.639-648
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• 2021

The study aims to examine the role of financial risk management in predicting the financial performance of commercial banks in Pakistan over the period of 2006-2017. For this purpose, risk management is measured through credit risk, interest rate risk, and liquidity risk, while financial performance is measured through ROA, ROE, and ROI. For this purpose, the dynamic panel model and two step GMM panel estimators are used to test the hypothesis empirically. The annual secondary data has been taken from the published financial reports of commercial banks of Pakistan. The results show that financial risk management significantly decreases the financial performance of commercial banks in Pakistan. Overall, the results are conclusive across the alternative measures of financial risk management in predicting the financial performance of the banking sector in Pakistan. The study suggested that managers should adopt risk management and risk hedging strategies to manage commercial banks' financial risks in Pakistan. They should hold extra cash while using the trade credit facilities. Previous studies mostly used a static model, but this study used a dynamic panel model. This study is among the first that focused on the various factors affecting the banks' performance in Pakistan.