• Title/Summary/Keyword: expected return

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The Impact of Public Transit Accessibility on the Car-sharing Use Demand (대중교통 접근성이 카셰어링 이용수요에 미치는 영향)

  • Kim, Suk-Hee;LEE, Kyu-Jin
    • The Journal of The Korea Institute of Intelligent Transport Systems
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    • v.15 no.4
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    • pp.1-11
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    • 2016
  • The purpose of this study is to analyze the effect of public transit accessibility on the Carsharing use demand. By utilizing the rental historical DB of Greencar which is operated in Suwon city and public transit GIS DB, the use demand models for Carsharing by rental offices are built and analyzed in accordance with public transit accessibility. The result indicates 73% of walking as a majority, 3% cycling, and 20% using buses and urban railways to access Carsharing rental offices. The goodness of fit of Carsharing use models reflecting accessibility to buses and railways is verified as 0.818 which proves that public transit accessibility is a significant variable. Therefore, it is verified that installing Carsharing rental offices where public transit transfer is convenient can possibly increase the use demand. Especially, while accessibility to buses is verified as a significant variable out of other public transit means, the accessibility to urban railways is verified as not significant. This suggests that a variety of complementary policies such as transfer discount policy and one-way transfer return policy are necessary in between urban railways and Carsharing in order to promote mutual use demand in accordance with the other public transit means. This study result is yet the basic research on Carsharing, however it is expected to contribute to improvement of transfer demand in between different public transit means.

An Experimental Study on Seismic Damage Indicator Considering Cumulative Absolute Velocity Concept (누적절대속도 개념을 고려한 지진손상표시기의 실험적 연구)

  • 이종림;권기주;이상훈
    • Journal of the Earthquake Engineering Society of Korea
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    • v.5 no.3
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    • pp.65-71
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    • 2001
  • The nuclear power plant(NPP) should be shut down for inspection and tests prior to a return to power if the earthquake exceeds the operating basis earthquake(OBE). The OBE at the plant is considered to have been exceeded if the computed cumulative absolute velocity(CAV) from the earthquake record is greater than 0.16g-sec. However, the CAV criterion should be determined considering the seismic and structural characteristics of the plant. An experimental study using shaking table is conducted in this study to evaluate intensity of CAV criterion. Appropriate level of CAV is evaluated based on the test results using the developed seismic damage indicator(SDI) model. The model consists of stacked acrylic cylinders and is developed to behave consistently for each directional seismic load. The result of the experimental study in dicates that the CAV criterion of 0.16g-sec is conservative enough to be applied to Korean NPPs since the CAV value of the seismic input motion of the Korean standard NPPs ranges from 0.3 to 0.5 g-sec. The developed SDI is expected to be useful not only in easily determining OBE exceedance but also in evaluating earthquake damage quantitatively to provide guidelines for better post-shutdown inspection and test.

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A Study on the Daily Probability of Rainfall in the Taegu Area according to the Theory of Probaility (대구지방(大邱地方)의 확률일우량(確率日雨量)에 관(關)한 연구(硏究))

  • Kim, Young Ki;Na, In Yup
    • Economic and Environmental Geology
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    • v.4 no.4
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    • pp.225-234
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    • 1971
  • With the advance of civilization and steadily increasing population rivalry and competition for the use of the sewage, culverts, farm irrigation and control of various types of flood discharge have developed and will be come more and more keen in the future. The author has tried to calculated a formula that could adjust these conflicts and bring about proper solutions for many problems arising in connection with these conditions. The purpose of this study is to find out effective sewage, culvert, drainage, farm irrigation, flood discharge and other engineering needs in the Taegu area. If demands expand further a new formula will have to be calculated. For the above the author estimated methods of control for the probable expected rainfall using a formula based on data collected over a long period of time. The formula is determined on the basis of the maximum daily rainfall data from 1921 to 1971 in the Taegu area. 1. Iwai methods shows a highly significant correlation among the variations of Hazen, Thomas, Gumbel methods and logarithmic normal distribution. 2. This study obtained the following major formula: ${\log}(x-2.6)=0.241{\xi}+1.92049{\cdots}{\cdots}$(I.M) by using the relation $F(x)=\frac{1}{\sqrt{\pi}}{\int}_{-{\infty}}^{\xi}e^{-{\xi}^2}d{\xi}$. ${\xi}=a{\log}_{10}\(\frac{x+b}{x_0+b}\)$ ($-b<x<{\infty}$) ${\log}(x_0+b)=2.0448$ $\frac{1}{a}=\sqrt{\frac{2N}{N-1}}S_x=0.1954$. $b=\frac{1}{m}\sum\limits_{i=1}^{m}b_s=-2.6$ $S_x=\sqrt{\frac{1}{N}\sum\limits^N_{i=1}\{{\log}(x_i+b)\}^2-\{{\log}(x_0+b)\}^2}=0.169$ This formule may be advantageously applicable to the estimation of flood discharge, sewage, culverts and drainage in the Taegu area. Notation for general terms has been denoted by the following. Other notations for general terms was used as needed. $W_{(x)}$ : probability of occurranec, $W_{(x)}=\int_{x}^{\infty}f_{(n)}dx$ $S_{(x)}$ : probability of noneoccurrance. $S_{(x)}=\int_{-\infty}^{x}f_(x)dx=1-W_{(x)}$ T : Return period $T=\frac{1}{nW_{(x)}}$ or $T=\frac{1}{nS_{(x)}}$ $W_n$ : Hazen plot $W_n=\frac{2n-1}{2N}$ $F_n=1-W_x=1-\(\frac{2n-1}{2N}\)$ n : Number of observation (annual maximum series) P : Probability $P=\frac{N!}{{t!}(N-t)}F{_i}^{N-t}(1-F_i)^t$ $F_n$ : Thomas plot $F_n=\(1-\frac{n}{N+1}\)$ N : Total number of sample size $X_l$ : $X_s$ : maximum, minumum value of total number of sample size.

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Development of an Economic Effect Analysis Model for R&D Performance of the Expressway & Transportation Research Institute (국토해양 분야 R&D 성과의 경제적 효과 분석 모델 개발 -도로교통연구원의 성과를 중심으로-)

  • Kim, Dong Young;Kim, Byungil;Chun, Hyunkon;Kim, Hyoungkwan
    • KSCE Journal of Civil and Environmental Engineering Research
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    • v.31 no.5D
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    • pp.697-703
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    • 2011
  • Studies have shown that research and development has positively impacted the upbringing of construction industry. However, its economic effect has not yet been fully investigated. This study develops an economic effect analysis model for R&D performance. In-depth interview and review of the literature produced a total of 11 performance indicators that considered the public characteristics of construction industry. A case study which involved the Expressway & Transportation Research Institute was conducted in order to verify the proposed model. The result showed that the return on investment of the institute was 3.3 times of the R&D investment. The proposed model is expected to help researchers analyze an economic effect analysis model for R&D performance.

Does Market Performance Influence Credit Risk? (기업의 시장성과는 신용위험에 영향을 미치는가?)

  • Lim, Hyoung-Joo;Mali, Dafydd
    • The Journal of the Korea Contents Association
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    • v.16 no.3
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    • pp.81-90
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    • 2016
  • This study aims to investigate the association between stock performance and credit ratings, and credit rating changes using a sample of 1,691 KRX firm-years that acquire equity in the form of long-term bonds from 2002 to 2013. Previous U.S. literature is mixed with regard to the relation between credit ratings and stock price. On one hand, there is evidence of a positive relation between credit ratings and stock prices, an anomaly established in U.S. studies. On the other hand, the CAPM model suggests a negative relation between stock prices and credit ratings, implying that investors expect financial rewards for bearing additional risk. To our knowledge, we are the first to examine the relationship between stock price and default risk proxied by credit ratings in period t+1. We find a negative (positive) relation between credit ratings (risk) in period t+1 and stock returns in period t, suggesting that credit rating agencies do not consider stock returns as a metric with the potential to influence default risk. Our results suggest that market participants may prefer firms with higher credit risk because of expected higher returns.

Development of a New Flood Index for Local Flood Severity Predictions (국지홍수 심도예측을 위한 새로운 홍수지수의 개발)

  • Jo, Deok Jun;Son, In Ook;Choi, Hyun Il
    • Journal of Korea Water Resources Association
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    • v.46 no.1
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    • pp.47-58
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    • 2013
  • Recently, an increase in the occurrence of sudden local flooding of great volume and short duration due to global climate changes has occasioned the significant danger and loss of life and property in Korea as well as most parts of the world. Such a local flood that usually occurs as the result of intense rainfall over small regions rises quite quickly with little or no advance warning time to prevent flood damage. To prevent the local flood damage, it is important to quickly predict the flood severity for flood events exceeding a threshold discharge that may cause the flood damage for inland areas. The aim of this study is to develop the NFI (New Flood Index) measuring the severity of floods in small ungauged catchments for use in local flood predictions by the regression analysis between the NFI and rainfall patterns. Flood runoff hydrographs are generated from a rainfall-runoff model using the annual maximum rainfall series of long-term observations for the two study catchments. The flood events above a threshold assumed as the 2-year return period discharge are targeted to estimate the NFI obtained by the geometric mean of the three relative severity factors, such as the flood magnitude ratio, the rising curve gradient, and the flooding duration time. The regression results show that the 3-hour maximum rainfall depths have the highest relationships with the NFI. It is expected that the best-fit regression equation between the NFI and rainfall characteristics can provide the basic database of the preliminary information for predicting the local flood severity in small ungauged catchments.

A Basic Study of Development of Post-disaster Refugees Housing Performance Index (재난대응 구호주거 성능지표 개발을 위한 기초연구)

  • Nam, Hye-Ryeong;Lee, Won-Hak;Kang, Su-Min;Kim, Sung-Tae;Cho, Young-Jun;Lee, Byung-Yun
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.18 no.12
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    • pp.744-754
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    • 2017
  • In this study, an analytic hierarchy process (AHP) was conducted with the aim of developing a post-disaster refugee housing performance index system (PPS) to improve the post-disaster refugee housing (PRH) performance criteria for the foundation of quality-based development. The PRH was defined as a mid-term temporary housing facility that is used for a certain period before the permanent housing is established. The safety, rapidity, reusability, habitability, and economy were derived from major performance factors through prior research. A hierarchical PPS was organized by linking the major performance factors with the whole life cycle process of PRH. The priority of each performance index of PPS was determined quantitatively using the analytic hierarchy process through an expert survey. Based on AHP analysis, the performance criterion of the total weight 1-10 ranking and the performance criterion of the first rank in each category were classified into the essential performance criterion (must be achieved) and the others were classified into the recommended performance criterion (optional achieved) and the performance index was constructed considering all stages of PRH development. With the completion of the PRH performance index, it is expected that victims will be able to secure stable residence and return to their daily lives quickly.

Information Contents of Dividend and Ex-dividend Day Stock Returns (현금배당 사전공시기업의 정보효과 및 배당락일의 주식수익률)

  • Kim, Sung-Min;Kim, Ji-Eun
    • The Korean Journal of Financial Management
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    • v.21 no.1
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    • pp.1-32
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    • 2004
  • This paper investigates the stock price and the volume behavior on the ex-dividend day using the December fiscal year firms listed on the Korea Stock Exchange from 1998 to 2000. Using the samples of voluntarily preannounced dividend-raying firms prior to the end of fiscal you, this study corrects the major limitations on previous studies -Kim, S. (1997) and Kim, S. (2003)- which were based on the perfect foresight assumption for firms' upcoming dividends. Also, this paper examines the information content of dividend more properly, since the preannounced date for the upcoming dividend payment is employed for the first time as the event date. Empirical results show that the announcement effects of cash and/or stock dividend is significant around the event date. The ex-dividend day stock returns are negative as expected for the samples of voluntarily preannounced cash dividend-paying firms.

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A Study on the Efficiency of National Policy Bank's Support for SMEs Policy Funds (국책은행의 중소기업 정책자금 지원에 관한 효율성 연구)

  • Yun, Mi;Lee, Cheol-Gyu
    • Journal of Digital Convergence
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    • v.18 no.10
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    • pp.147-162
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    • 2020
  • The purpose of this study is to present practical improvement plans for policy fund support in national policy banks through an analysis of the efficiency of policy fund support. It targets small and medium-sized enterprises(SMEs) that received policy funding from national policy banks in '17 and '18 consecutively. As for the analysis method, characteristic analysis and corresponding sample T-test was performed. The analysis results are as follows. First, as a result of analyzing the characteristics of small and medium-sized enterprises, most of the financial funds were concentrated on the manufacturing industry. By region, the western region of Gyeonggi Province, by credit rating, was A grade, technology grade was T5, and the use of funds was mostly concentrated on facility funds. Second, as a result of efficiency analysis, profitability had a positive effect on total capital return, stability had a positive effect on interest compensation ratio, and activity had a positive effect on total capital turnover. In conclusion, it is expected to provide practical improvement plans to support policy funds to influence the growth and distribution of funds appropriate to the needs of SMEs.

Kinematic and Dynamic Analyses of Human Arm Motion

  • Kim, Junghee;Cho, Sungho;Lee, Choongho;Han, Jaewoong;Hwang, Heon
    • Journal of Biosystems Engineering
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    • v.38 no.2
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    • pp.138-148
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    • 2013
  • Purpose: Determining an appropriate path is a top priority in order for a robot to maneuver in a dynamically efficient way especially in a pick-and-place task. In a non-standardized work environment, current robot arm executes its motion based on the kinematic displacements of joint variables, though resulting motion is not dynamically optimal. In this research we suggest analyzing and applying motion patterns of the human arm as an alternative to perform near optimum motion trajectory for arbitrary pick-and-place tasks. Methods: Since the motion of a human arm is very complicated and diverse, it was simplified into two links: one from the shoulder to the elbow, and the other from the elbow to the hand. Motion patterns were then divided into horizontal and vertical components and further analyzed using kinematic and dynamic methods. The kinematic analysis was performed based on the D-H parameters and the dynamic analysis was carried out to calculate various parameters such as velocity, acceleration, torque, and energy using the Newton-Euler equation of motion and Lagrange's equation. In an attempt to assess the efficacy of the analyzed human motion pattern it was compared to the virtual motion pattern created by the joint interpolation method. Results: To demonstrate the efficacy of the human arm motion mechanical and dynamical analyses were performed, followed by the comparison with the virtual robot motion path that was created by the joint interpolation method. Consequently, the human arm was observed to be in motion while the elbow was bent. In return this contributed to the increase of the manipulability and decrease of gravity and torque being exerted on the elbow. In addition, the energy required for the motion decreased. Such phenomenon was more apparent under vertical motion than horizontal motion patterns, and in shorter paths than in longer ones. Thus, one can minimize the abrasion of joints by lowering the stress applied to the bones, muscles, and joints. From the perspectives of energy and durability, the robot arm will be able to utilize its motor most effectively by adopting the motion pattern of human arm. Conclusions: By applying the motion pattern of human arm to the robot arm motion, increase in efficiency and durability is expected, which will eventually produce robots capable of moving in an energy-efficient manner.