• International Journal of Computer Science & Network Security
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• v.21 no.12
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• pp.309-315
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• 2021

The purpose of the article is to analyze the functioning of economic systems in the context of the development of their potential in a circular economy. It is determined that the functioning of economic systems to ensure their sustainability should meet modern challenges and provide for the formation of competitive institutional architecture, the introduction of structural and regulatory innovations, the transition to an innovative model of development. The specific principles of functioning of economic systems include openness, nonlinearity, multivectority, dynamism, emergence, uncertainty about the development of economic processes. It is substantiated that the linear nature of development and equilibrium are not dominant in the functioning of economic systems, and increasing the level of economic efficiency should go hand in hand with minimizing the activities of enterprises, which necessitates the use of circular economy. The main prerequisites for the transition to a circular economy are analyzed. It is determined that the basic concept of the circular economy involves the development of a system of production and consumption, which is based on processing, reuse, repair, product sharing, change of consumption patterns and new business models and systems. The main elements of the circular economy include: a closed cycle, the use of renewable energy sources, systems thinking. The correlation of the principles of sustainable development and the peculiarities of the application of the circular economy is analyzed. It is determined that the circular economy contrasts with the traditional linear economic model, which is based on the model of "take-do-consume-throw away". The advantages and disadvantages due to the use of the principles of circular economy are given. Based on the study, steps are identified to accelerate the transition from a linear economy to a circular economy.

• Resources Recycling
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• v.30 no.3
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• pp.3-17
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• 2021

Currently, there is a drain of natural resources, environmental contamination, generation of waste, and problems of the earth's climate by CO₂ emissions according to mass production and overconsumption of mankind. It is effectuated by a linear economy that involves manufacturing products, use, and waste repeatedly; there is no guarantee in the lives of humans and the future of the globe if we do not find alternative proposals. For a sustainable developing society and to overcome the present global problems, we must successively change to a circular economy from a linear economy. The circular economy has the concept of an extended value chain in recovery, reuse, remanufacturing, and recycling, instead of discarding after the use of manufactured goods. New business models of circular economy have been realized to save the earth ecology and sustainable developing society in serious recognition of the linear economy system. New business models are established by creating a vision and developing a program, and by renovating technology, law, and financial support through a worldwide government policy.

• International Journal of Automotive Technology
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• v.4 no.2
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• pp.101-108
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• 2003

There are a lot of factors that influence automotive fuel economy such as average trip time per kilometer, average trip speed, the number of times of vehicle stationary, and so forth. These factors depend on road conditions and traffic environment. In this study, various driving data were measured and recorded during road tests in Seoul. The accumulated road test mileage is around 1,300 kilometers. The objective of the study is to identify the driving patterns of the Seoul metropolitan area and to analyze the fuel economy based on these driving patterns. The driving data which was acquired through road tests was analysed statistically in order to obtain the driving characteristics via modal analysis, speed analysis, and speed-acceleration analysis. Moreover, the driving data was analyzed by multivariate statistical techniques including correlation analysis, principal component analysis, and multiple linear regression analysis in order to obtain the relationships between influencing factors on fuel economy. The analyzed results show that the average speed is around 29.2 km/h, and the average fuel economy is 10.23 km/L. The vehicle speed of the Seoul metropolitan area is slower, and the stop-and-go operation is more frequent than FTP-75 test mode which is used for emission and fuel economy tests. The average trip time per kilometer is one of the most important factors in fuel consumption, and the increase of the average speed is desirable for reducing emissions and fuel consumption.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.4
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• pp.665-672
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• 2021

The paper examines the impact of shadow economy and corruption, along with public expenditure, trade openness, foreign direct investment (FDI), inflation, and tax revenue on the economic growth of the BRICS countries. Data were collected from the World Bank, Transparency International, and Heritage Foundation over the 1991-2017 period. The Bayesian linear regression method is used to examine whether shadow economy, corruption and other indicators affect the economic growth of countries studied. This paper applies the normal prior suggested by Lemoine (2019) while the posterior distribution is simulated using Monte Carlo Markov Chain (MCMC) technique through the Gibbs sampling algorithm. The results indicate that public expenditure and trade openness can enhance the BRICS countries' economic growth, with the positive impact probability of 75.69% and 67.11%, respectively. Also, FDI, inflation, and tax revenue positively affect this growth, though the probability of positive effect is ambiguous, ranging from 51.13% to 56.36%. Further, the research's major finding is that shadow economy and control of corruption have a positive effect on the economic growth of the BRICS countries. Nevertheless, the posterior probabilities of these two factors are 62.23% and 65.25%, respectively. This result suggests that their positive effect probability is not high.

• Journal of the Korean Society of Clothing and Textiles
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• v.46 no.6
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• pp.1039-1057
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• 2022

The fashion system has been criticized for relying on a linear economy to reduce short-term costs and increase profits. Meanwhile, the circular economy strives to expand the value chain through a closed loop for companies, society, and the environment by separating consumption from resources. This study aims to elucidate the strategic characteristics of the technological measures that fashion companies and brands are trying to innovate into a sustainable fashion system on the basis of the circular economy concept. Thus, we conducted case studies by dividing the value chain of the fashion system into design, production, and consumption to identify the technological development of the circular fashion system from a technologization perspective that incorporates technological values. First, design appeared to strengthen emotional durability, design and process with circulation in mind, and fashion product digitalization. Second, production manifested itself as material development for the new fiber economy, improvement of non-environmental processes, and customization of demand-driven, responsive production. Third, consumption was the spread of the environmental consumption culture through the sharing economy platform, the realization of a virtual wearing experience to prevent rapid disposal, and the provision of information on sustainable consumption.

• KDI Journal of Economic Policy
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• v.34 no.2
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• pp.17-40
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• 2012

We study externality costs of capital investment under limited commitment. We solve for the constrained efficient allocation with a limited commitment environment and find positive externality costs of capital investment provided that full-risk-sharing is not feasible. In a decentralized version of limited commitment environment, a one unit increase of capital investment by an agent increases all individuals' autarky values in the economy and generates externality costs in the economy. This externality cost provides a rationale for positive capital taxation even in the absence of government expenditure. In order to internalize this costs, the government use a positive rate of linear capital tax in the decentralized economy.

• Asia-Pacific Journal of Business
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• v.15 no.1
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• pp.145-157
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• 2024

Purpose - In this study, we propose an empirical model for predicting seasoned equity offering (SEO here after) using machine learning methods. Design/methodology/approach - The models utilize the random forest method based on decision trees that considers non-linear relationships, as well as the gradient boosting tree model. SEOs incur significant direct and indirect costs. Therefore, CEOs' decisions of seasoned equity issuances are made only when the benefits outweigh the costs, which leads to a non-linear relationship between SEOs and a determinant of them. Particularly, a variable related to market timing effectively exhibit such non-linear relations. Findings - To account for these non-linear relationships, we hypothesize that decision tree-based random forest and gradient boosting tree models are more suitable than the linear methodologies due to the non-linear relations. The results of this study support this hypothesis. Research implications or Originality - We expect that our findings can provide meaningful information to investors and policy makers by classifying companies to undergo SEOs.

• The Korean Journal of Applied Statistics
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• v.8 no.2
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• pp.43-54
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• 1995

The fishery household economy survey is a sample survey which produce estimates on the fishery household economy and fishery management in Korea. We propose a sample design for this survey. This design is developed based on results of 1990 fishery census and Shi-Do is assumed to be subpopulation for Shi-Do estimates. Samples are selected by stratified two-stage cluster sampling in Shi-Do and income function is found for stratification. Fishery household income is estimated by a linear estimator.

• Asia-Pacific Journal of Business
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• v.15 no.1
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• pp.99-111
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• 2024

Purpose - This study aims to quantify the long tail effect in the digital economy. It also investigates the role of digital platform before and after the COVID-19 pandemic. Design/methodology/approach - We take advantage of a granular data set from one of the biggest digital platforms in Korea. Rather than computing the absolute number of products sold or the Gini coefficient, we estimate the slope of the log-linear relationship of the non-parametric sales distribution. Findings - We find that the use of online food order and delivery services is positively associated with individual restaurant's sales growth. We also document that the long tail effect is increasing over time. Long tail effects are clustered in the cross-section where average revenue per order is high or the restaurant belongs to the top 50% of the sales distribution. Research implications or Originality - The findings may indicate that digital platforms are contributing to the development of the digital economy in Korea. Also, we confirm that digital platforms make it possible for small and sole proprietors to go through the difficulties induced by the COVID-19 pandemic.

• Proceedings of the Korean Society of Precision Engineering Conference
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• 1995.10a
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• pp.985-990
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• 1995

Recently, the development of high speed and high precision NC-lathe for piston head machining is needed for the complexity and diversity of the piston head shape used in automobile reciprocating engine. THe piston head has many complex shapes in the aspect of fuel economy, such as ovality, profile, double ovality and recess. Among them, for the maching of the over shape of 0.1~1mm the cutting tool should move periodically symchronized with the rotation of piston workpiece. The cutting tool feeed system must have high positioning accuracy for the precise machining, high speed for the fast maching and high dynamic stiffness for the cutting force. The linear brushless DC motor is used for satisfying these coditions. The ballbush guide and supporting guide using turcite is used for the guidance of the feed drive system. Linear encoder, digital servo ampllifer and controller are used for driving the motor. THis paper presents the design and simulation of the new tool feed system for noncircular machining.