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Systems Thinking Perspective on the Sustainable Growth Strategy of Hedge Funds Market

  • Kim, Tae-Hyun;Chung, Sam-Young;Eom, Jae-Gun
    • Korean System Dynamics Review
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    • v.17 no.3
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    • pp.91-120
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    • 2016
  • This study explores hedge fund characteristics that affect hedge fund performance, namely, fund size, fund age, and performance fee. Previous studies have examined relationships between hedge fund characteristics and fund performance using singular and static thinking to report inconsistent findings without providing full understanding of the causal relationships among variables. To identify that comprehensive causal relationships between hedge fund characteristics and hedge fund performance, this research applies the system dynamics perspective, which allowed demonstration of the interactions within the overall system beyond the singular causal relationships between hedge fund characteristics and performance found in existing traditional research. This study contributes to existing literature in the following ways. First, it overcomes the limitations of singular research methodologies by looking at the integrated system of hedge fund characteristics and fund performance from a bird's eye view based on their dynamic feedback relationships. Second, policy suggestions in terms of regulation and education are presented as growth strategies for the sustainable development of the Korean hedge fund market.

New parametric approach to decomposition of disk averaged spectra of potential extra terrestrial planet I. Surface type ratio of the Earth

  • Ryu, Dong-Ok;Seong, Se-Hyun;Yu, Jin-Hee;Oh, Eun-Song;Ahn, Ki-Beom;Hong, Jin-Suk;Lee, Jae-Min;Kim, Suk-Whan
    • Bulletin of the Korean Space Science Society
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    • 2010.04a
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    • pp.34.2-34.2
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    • 2010
  • We built 7 potential extra-terrestrial planets including the full 3D Earth model with various surface types and 6 planet models, each with uniform surface characteristics. The surface types include ice, tundra, forest, grass, ground and ocean. We then imported these 7 planets into integrated ray tracing(IRT) model to compute their disk averaged spectra and to understand the spectral behavior depending on the geometrical view, illumination phase and seasonal change. The IRT computation show that the 6 planets with uniform surfaces exhibit clear spectral differences from that of the Earth. We then built a phase and seasonal DAS database for the 6 uniform surface planets and used them for parametric spectral decomposition technique to derive the Earth DAS. This computation resulted in the first potential solution to the surface type ratio of the Earth compared to the measured earth surface type ratio. The computational details and the implications are discussed.

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Characteristic Analysis of Flyback Type ZVS PWM DC-DC Converter Using Passive Resonant Snubber (패시브 공진 스너버를 이용한 플라이백형 ZVS PWM DC-DC 컨버터의 특성해석)

  • Kim, Jung-Do;Mun, Sang-Pil;Park, Han-Seok
    • The Transactions of the Korean Institute of Electrical Engineers P
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    • v.65 no.3
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    • pp.158-164
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    • 2016
  • In this paper, a high frequency flyback type zero voltage soft switching PWM DC-DC converter using IGBTs is proposed. Effective applications for this power converter can be found in auxiliary power supplies of rolling stock transportation and electric vehicles. This power converter is basically composed of active power switches and a flyback high frequency transformer. In addition to these, passive lossless snubbers with power regeneration loops for energy recovery, consisting of a three winding auxiliary high frequency transformer, auxiliary capacitors and diodes are introduced to achieve zero voltage soft switching from light to full load conditions. Furthermore, this power converter has some advantages such as low cost circuit configuration, simple control scheme and high efficiency. Its operating principle is described and to determine circuit parameters, some practical design considerations are discussed. The effectiveness of the proposed power converter is evaluated and compared with the hard switching PWM DC-DC converter from an experimental point of view and the comparative electromagnetic conduction and radiation noise characteristics of both DC-DC power converter circuits are also depicted.

A Study on the Integrated Digital Signature System for Smart Card (지능형 전자 증명 카드에 적합한 통합 서명 시스템에 관한 연구)

  • 김승주;이보영;원동호
    • The Journal of Korean Institute of Communications and Information Sciences
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    • v.22 no.4
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    • pp.870-879
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    • 1997
  • At crypto'89 meeting, D. chaum suggested an undeniable signature scheme. Undeniable signatures are verified via a protocol between the signer and verifier, so the cooperation of the signer is necessary. So far, ther have been several variants of undeniable signatures to obtain a signature scheme, which can control the abous of ordinary digital signatures. In this paper we integrate these variants into a generalized undeniable-type signature scheme. Also, it will be pointed out, that undeniable signature schemes but its first realization are vulnerable in full view of eavesdropping third party. Moreover, to solve this problem, we propose a new type of digital signature, called "result-indisting-uishable undeniable signature" and construct a practical protocol that implements it.

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OFPT: OpenFlow based Parallel Transport in Datacenters

  • Liu, Bo;XU, Bo;Hu, Chao;Hu, Hui;Chen, Ming
    • KSII Transactions on Internet and Information Systems (TIIS)
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    • v.10 no.10
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    • pp.4787-4807
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    • 2016
  • Although the dense interconnection datacenter networks (DCNs) (e.g. FatTree) provide multiple paths and high bisection bandwidth for each server pair, the single-path TCP (SPT) and ECMP which are widely used currently neither achieve high bandwidth utilization nor have good load balancing. Due to only one available transmission path, SPT cannot make full use of all available bandwidth, while ECMP's random hashing results in many collisions. In this paper, we present OFPT, an OpenFlow based Parallel Transport framework, which integrates precise routing and scheduling for better load balancing and higher network throughput. By adopting OpenFlow based centralized control mechanism, OFPT computes the optimal path and bandwidth provision for each flow according to the global network view. To guarantee high throughput, OFPT dynamically schedules flows with Seamless Flow Migration Mechanism (SFMM), which can avoid packet loss in flow rerouting. Finally, we test OFPT on Mininet and implement it in a real testbed. The experimental results show that the average network throughput in OFPT is up to 97.5% of bisection bandwidth, which is higher than ECMP by 36%. Besides, OFPT decreases the average flow completion time (AFCT) and achieves better scalability.

A Study for Interior Noise Contribution of Support Material used in Railway Vehicle Floor (철도차량 부유상구조의 Floor support 재질이 차량 실내소음에 미치는 영향에 관한 연구)

  • Son, Byoung-Gu;Kim, Jong-Nyeun;Woo, Kwan-Je
    • Proceedings of the KSR Conference
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    • 2008.11b
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    • pp.1776-1781
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    • 2008
  • To reduce interior noise of running vehicles, a floating floor construction has been widely used in recent railway industry. Among the key factors of the floating floor design, dynamic stiffness is of most important in acoustical point of view. Sometimes hard rubber type supports have often been selected due to the other design constraints such as heavy load condition, durability of rubber element and its cost etc., even though it seems like the softer support, the better isolation of noise and vibration. In this paper two representative floor supports have been considered to evaluate their effectiveness in interior noise contribution: one is a soft rubber and another is a relatively hard one. From the measured dynamic stiffness of the specimens, equivalent stiffness of actual floating floor has been derived to use in the analytical models. Calculated air-borne and structure-borne noise insulation properties of the floating floors have been compared with experiments in prototype car. In full car model interior noise levels of running vehicles have been predicted to quantify the effectiveness of the two different floating support materials and verified through the measured inside noise levels of actual train as well. By comparison with difference of running noise levels two materials for floor support can be investigated quantitatively so that it could be applied in floating floor design.

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Parametric study on the structural response of a high burnup spent nuclear fuel rod under drop impact considering post-irradiated fuel conditions

  • Almomani, Belal;Kim, Seyeon;Jang, Dongchan;Lee, Sanghoon
    • Nuclear Engineering and Technology
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    • v.52 no.5
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    • pp.1079-1092
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    • 2020
  • A parametric study of several parameters relevant to design safety on the spent nuclear fuel (SNF) rod response under a drop accident is presented. In the view of the complexity of interactions between the independent safety-related parameters, a factorial design of experiment is employed as an efficient method to investigate the main effects and the interactions between them. A detailed single full-length fuel rod is used with consideration of post-irradiated fuel conditions under horizontal and vertical free-drops onto an unyielding surface using finite-element analysis. Critical drop heights and critical g-loads that yield the threshold plastic strain in the cladding are numerically estimated to evaluate the fuel rod structural resistance to impact load. The combinatory effects of four uncertain parameters (pellet-cladding interfacial bonding, material properties, spacer grid stiffness, rod internal pressure) and the interactions between them on the fuel rod response are investigated. The principal finding of this research showed that the effects of above-mentioned parameters on the load-carrying capacity of fuel rod are significantly different. This study could help to prioritize the importance of data in managing and studying the structural integrity of the SNF.

Development of Real-Time COF Film Complex Inspection System using Color Image (컬러영상을 이용한 실시간 COF 필름 복합 검사시스템 개발)

  • Kim, Yong-Kwan;Lee, In Hwan
    • Journal of the Korean Society of Manufacturing Process Engineers
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    • v.20 no.10
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    • pp.112-118
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    • 2021
  • In this study, an inspection method using a color image is proposed to conduct a real-time inspection of covalent organic framework (COF) films to detect defects, if any. The COF film consists of an upper pattern SR and a lower PI. The proposed system detects the defects of more than 20 ㎛ on the SR surface owing to the characteristics of the pattern, whereas on the PI surface, it detects defects of more than 4 ㎛ by utilizing a micro-optical system. In the existing system, it is difficult for the operator to conduct a full inspection through a high-performance microscope. The proposed inspection algorithm performs the inspection by separating each color component using the color contrast of the pattern on the SR side, and on the PI surface it inspects the bonding state of the mounted chip. As a result, it is possible to confirm the exact location of the defects through the SR and PI surface inspections in the implemented inspection.

The Effects of Economic Uncertainty on Multi-National Companies (MNCs) Investment in Malaysia

  • MARIADAS, Paul Anthony;MURTHY, Uma;SUBRAMANIAM, Muthaloo;SELVANATHAN, Mahiswaran;LUN, Ng Han
    • The Journal of Asian Finance, Economics and Business
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    • v.8 no.5
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    • pp.1-9
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    • 2021
  • The purpose of this study is to examine the effects of economic uncertainty on MNC investment in Malaysia from 2009 to 2019 by employing an ARDL method. The results revealed that Economic Policy Uncertainty (EPU) has a positive association with the capital expenditures of Nestle, British American Tobacco, and Public Bank in the long run. In a similar period, the Gross Domestic Product (GDP) is positively significant with the capital expenditures of British America Tobacco and Heineken. However, inflation is negatively related to the capital expenditures of British America Tobacco and Heineken. Additionally, the exchange rate has a significant and negative relationship with the capital expenditures of Nestle and Petronas, while the ECT value is negative and significant in the short run, hence confirming that co-integration exists. In view of this, it is imperative that the government plays a prerogative role to support MNC operations, as MNCs foster the developing countries' economic development through facilitating full employment. This study sets to enhance the personal knowledge of those with a strong interest in the Malaysian financial market. As long as MNCs believe that the Malaysian market has the potential to grow, they will continue to invest for the benefit of the country.

The task and view of records and archives management reform - Governance of records and archives management (1. 기록관리혁신의 과제와 전망 - 거버넌스 기록관리)

  • Kim, Ik-han
    • The Korean Journal of Archival Studies
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    • no.11
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    • pp.3-14
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    • 2005
  • This paper aims to consider governance and governance of records and archives management suggested with democracy development. And there are some issues like that. First, it's an issue of authenticity and reliability. Authenticity means that records can be proven to be what it purports to be, to have been created or sent by the person purported to have created or sent it, and to have been created or sent at the time purported. Reliability means that the contents of the records can be trusted as a full and accurate representation of the transactions, activities or facts to which they attest and can be depended upon in the course of subsequent transactions or activities. Second, it's a problem of a point of time related opening when the records and archives management process has designed. Third, there is an issue that a people can related records and archives management, or not. Fourth, it's to consider systematic methodology for achieving business management and records management. And last, it's a topic of relation governance of records and archives management and the nation's participation.