• Korean Management Science Review
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• v.30 no.1
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• pp.167-181
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• 2013

We investigate the dynamic asset allocation problem under inflation risk when the wealth of an investor is constrained with minimum requirements. To capture the investor's risk preference, the CRRA utility function is considered and he maximizes his expected utility at predetermined date of the refund by participation in the financial market. The financial market is supposed to consist of three kinds of financial instruments which are a risk free asset, a risky asset, and an index bond. The role of an index bond is managing inflation risk represented by price process. The optimal wealth and the optimal asset allocation are derived explicitly by using the method to get the European call option pricing formula. From the numerical results, it is confirmed that the investments on index bond is high when the investor's wealth level is low. However, as his wealth increases, the investments on index bond decreases and he invests on risky asset more. Furthermore, the minimum wealth constraint induces lower investment on risky asset but the effect of the constraints is reduced as the wealth level increases.

• Management & Information Systems Review
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• v.34 no.4
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• pp.67-81
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• 2015

The purpose of this study was to evaluate the effect of this factor on the macroeconomic variables for the healthcare industry market. First, the government bond interest rates and the exchange rate is the cause variable of drug industry index. Drug industry index is a mutual influence between the Call interest rate. Second, the medical equipment index haver mutual cause variable such as call rate index, government bond interest rates, and exchange rate. A current account balance variable is the cause variable of drug industry index. Third, the drug industry index has a negative relationship with a Call interest rate and an exchange rate. but it has a positive relationship with a government bond interest rates. the medical equipment index has a negative relationship with an exchange rate. but it has a positive relationship with a government bond interest rates.

• Management & Information Systems Review
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• v.28 no.4
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• pp.93-108
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• 2009

This study examines the asymmetric volatility in the Korean bond market and stock market by using the KTB Prime Index and KOSPI. Because accurate estimation and forecasting of volatility is essential before investing assets, it is important to understand the asymmetric response of volatility in bond market. Therefore I investigate the existence of asymmetric volatility in Korean bond market unlike the previous studies which mainly focused on stock returns. The main results of the empirical analysis with GARCH and GJR-GARCH model are as follow. At first, it exists the asymmetric volatility on KOSPI returns like the previous studies. Also, I find that the GJR-GARCH is more suitable one than GARCH model for forecasting volatility. Second, it does not exist the asymmetric volatility on KTB Prime Index returns. This result is showed by that using the GARCH model for forecasting volatility in bond market is sufficient.

• Journal of Korea Technical Association of The Pulp and Paper Industry
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• v.33 no.1
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• pp.38-44
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• 2001

The effects of refining load on the paper properties were investigated. HwBKP, SwBKP and SwUKP were refined with PFI mill at the load of 3.33 N/mm and 6.00 N/mm. Higher Scott bond was obtained at the higher refining load for three pulp used in this study. However any changes in the light scattering coefficient with the change of refining load were not observed. Although the effect of refining load on the formation index for SwUKP was not observed, higher refining load gave the better formation for HwBKP and SwBKP. The fiber mass and fiber crowding factor were not affected by the refining load. Higher apparent density and tensile index were obtained with the higher refining load. However, the higher refining load did not improve the tensile index at the same apparent density. The tear index was decreased with the increase of refining load.

• Communications of the Korean Mathematical Society
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• v.30 no.3
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• pp.283-295
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• 2015

The atom-bond connectivity index of a graph G (ABC index for short) is defined as the summation of quantities $\sqrt{\frac{d(u)+d(v)-2}{d(u)d(v)}}$ over all edges of G. A cactus graph is a connected graph in which every block is an edge or a cycle. The aim of this paper is to obtain the first and second maximum values of the ABC index among all n vertex cactus graphs.

• Communications for Statistical Applications and Methods
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• v.21 no.5
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• pp.445-459
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• 2014

This paper investigates the dependence structure of Korean financial markets (stock, foreign exchange (FX) rates and bond) using copula-GARCH and dynamic conditional correlation (DCC) models. We examine GJR-GARCH with skewed elliptical distributions and four copulas (Gaussian, Student's t, Clayton and Gumbel) to model dependence among returns, and then employ DCC model to describe system-wide correlation dynamics. We analyze the daily returns of KOSPI, FX (WON/USD) and KRX bond index (Gross Price Index) from $2^{nd}$ May 2006 to $30^{th}$ June 2014 with 2,063 observations. Empirical result shows that there is significant asymmetry and fat-tail of individual return, and strong tail-dependence among returns, especially between KOSPI and FX returns, during the 2008 Global Financial Crisis period. Focused only on recent 30 months, we find that the correlation between stock and bond markets shows dramatic increase, and system-wide correlation wanders around zero, which possibly indicates market tranquility from a systemic perspective.

• Journal of the Korea Concrete Institute
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• v.11 no.5
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• pp.61-68
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• 1999

Confinement is one of the major concepts for bond of reinforcing steel to concrete. Cover distance, and lateral reinforcement are the key factors for current provisions for development and splices of reinforcement. However, the current provisions still being complicated to calculate major variables need to be developed in the process of design. In this study, an experimental work was performed to examine the behavior of bond using beam end specimens. The test results and previous available data are analyzed to isolate the effects of confinement on bond strength. From this reevaluation, new provisions for development and splice of reinforcement are proposed. The provisions also propose some limits for confinement index. The new provisions will help engineers to decide easily the simple but conservative way for manual calculations or the exact approach for computerized design.

• The korean journal of orthodontics
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• v.37 no.4
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• pp.283-292
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• 2007

The purpose of this study was to evaluate the clinical usefulness of 4 self etching primers by measuring the shear bond strength of orthodontic brackets and examining the failure pattern of bracket-tooth interfaces. Methods: Seventy-five, defect-free, premolars were randomly assigned into five groups: control group (37% phosphoric acid + Transbond XT primer) and self etching primer treated groups (Transbond Plus self etching primer, Unifil bond, Clearfil SE bond, and Adhese). The shear bond strength was measured with a universal testing machine and the amount of residual adhesive remaining on the brackets after debonding was assessed by the adhesive remnant index (ARI). Results: The results showed that the groups conditioned with self etching primer had significantly lower shear bond strength than the control group (p < 0.05), although clinically acceptable. However, there were no significant differences in shear bond strength among the self etching primer groups (p > 0.05). Evaluation of the ARI scores indicated there was less resin remnant on the teeth in the groups conditioned with self etching primers, although not statistically significant. Conclusion: The results of this study suggest that all four of the self etching primers have shown acceptable bond strength for clinical use.

• Computers and Concrete
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• v.14 no.3
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• pp.327-345
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• 2014

This paper presents the application of multi-gene genetic programming (MGP) technique for modeling the bond strength of ribbed steel bars in concrete. In this regard, the experimental data of 264 splice beam tests from different technical papers were used for training, validating and testing the model. Seven basic parameters affecting on the bond strength of steel bars were selected as input parameters. These parameters are diameter, relative rib area and yield strength of steel bar, minimum concrete cover to bar diameter ratio, splice length to bar diameter ratio, concrete compressive strength and transverse reinforcement index. The results show that the proposed MGP model can be alternative approach for predicting the bond strength of ribbed steel bars in concrete. Moreover, the performance of the developed model was compared with the building codes' empirical equations for a complete comparison. The study concludes that the proposed MGP model predicts the bond strength of ribbed steel bars better than the existing building codes' equations. Using the proposed MGP model and building codes' equations, a parametric study was also conducted to investigate the trend of the input variables on the bond strength of ribbed steel bars in concrete.

• The korean journal of orthodontics
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• v.40 no.4
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• pp.260-266
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• 2010

Objective: The aim of this study was to determine whether different types of adhesive systems and enamel-protective agents will affect the tensile bond strength of lingual brackets. Methods: A total of 75 extracted mandibular incisors were randomly divided into 5 groups and lingual brackets were bonded. Group 1 specimens received Transbond XT (3M Unitek, Monrovia, CA, USA), Group 2 required the application of a fluoride-releasing resin (Ortho-coat, Pulpdent, Watertown, MA, USA) with Transbond XT, Group 3 specimens received a chlorhexidine varnish (Cervitec Plus, Ivoclar Vivadent, Schaan, Lichtenstein) with Transbond XT. In Group 4, a light-cured orthodontic adhesive (Aegis Ortho, Bosworth, Skokie, USA) was applied and in Group 5, an antimicrobial self-etching primer (Clearfil Protect Bond, Kuraray, Osaka, Japan) was used. Results: There were no significant differences in bond strength whether fluoride-releasing resin or chlorhexidine varnish were used or not. Group 5 had significantly higher bond strength and adhesive remnant index (ARI) values than other groups (p < 0.001). The application of enamel-protective products did not have an adverse affect on the bond strength of lingual brackets. Conclusions: These products might provide benefits both for the patient and the clinician, by supporting the oral hygiene during lingual orthodontic treatment. The higher ARI score may be beneficial for Clearfil Protect Bond but its excessive bond strength should be considered in clinical practice, especially where the enamel is thin.