• Management & Information Systems Review
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• v.37 no.4
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• pp.63-74
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• 2018

Recently, in the asset management industry, the smart beta strategy, which has an intermediate nature between passive and active strategies, is attracting attention. In this smart beta strategy, value, momentum, low volatility, and quality index are widely used. In this study, we analyzed the quality index which is not clear and complicated to calculate. According to the MSCI methodology, the quality index was calculated using three variables: return on equity, debt to equity, and earnings variability. In addition, we use the index using only return on equity variable, the index using only two variables of return on equity and debt to equity, and the KOSPI index as comparison targets for the quality index. In order to evaluate the performance of the indices used in the analysis, the arithmetic mean return, the coefficient of variation, and the geometric mean return were used. In addition, Fama and French (1993) model, which is widely used in related studies, was used as a pricing model to test whether abnormal returns in each index are occurring. The results of the empirical analysis are as follows. First, in all period analysis, quality index was the best in terms of holding period returns. Second, the quality index performed best in the currency crisis and the global financial crisis. Third, abnormal returns were not found in all indices before the global financial crisis. Fourth, in the period after the global financial crisis, the quality index has the highest abnormal return.

• Proceedings of the Korean Society of Environment and Ecology Conference
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• 2004.04a
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• pp.95-96
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• 2004

• Journal of Korean Society for Quality Management
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• v.37 no.4
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• pp.43-51
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• 2009

This study was designed to analyze the relationship of process quality, result quality and management performance in Korean insurance industry. For this study the linkage scheme of service quality concept is used on PZB model and BSC(Balances Score Card) system. In the linkage model, the 5 service qualitry factors used in PZB model are used as the result quality variables, and internal process factor, learning/growth factor in BSC are used the process quality variables affecting the result quality variables. And also customer satisfation factor and financial performance index are used as the management performance variables. In the ivsurance industry, the process quality variables were verified to meaningfully affect the result quality variables, and the result service quality variables were verified to affect the management performance indices. As the result, the process quality and the service quality must be emhanced for the competitiveness of Korean insurance industry.

• Journal of Electrical Engineering and Technology
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• v.11 no.6
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• pp.1535-1547
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• 2016

This paper proposes various design procedures for computing Power System Ancillary Service Requirement Assessment Indices (PSASRAI) for a Two-Area Thermal Reheat Interconnected Power System (TATRIPS) in a restructured environment. In an interconnected power system, a sudden load perturbation in any area causes the deviation of frequencies of all the areas and also in the tie-line powers. This has to be corrected to ensure the generation and distribution of electric power companies to ensure good quality. A simple Proportional and Integral (PI) controllers have wide usages in controlling the Load Frequency Control (LFC) problems. So the design of the PI controller gains for the restructured power system are obtained using Bacterial Foraging Optimization (BFO) algorithm. From the simulation results, the PSASRAI are calculated based on the settling time and peak over shoot concept of control input deviations of each area for different possible transactions. These Indices are useful for system operator to prepare the power system restoration plans. Moreover, the LFC loop coordinated with Redox Flow Batteries (RFB) has greatly improved the dynamic response and it reduces the control input requirements and to ensure improved PSASRAI, thereby improving the system reliability.

• Steel and Composite Structures
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• v.19 no.4
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• pp.811-827
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• 2015

This paper presents a probabilistic investigation of American and European specifications (i.e., AISC and Eurocode 4) for square concrete-filled steel tubular (CFT) stub columns. The study is based on experimental results of 100 axially loaded square CFT stub columns from the literature. By comparing experimental results for ultimate loads with code-predicted column resistances, the uncertainty of resistance models is analyzed and it is found that the modeling uncertainty parameter can be described using random variables of lognormal distribution. Reliability analyses were then performed with/without considering the modeling uncertainty parameter and the safety level of the specifications is evaluated in terms of sufficient and uniform reliability criteria. Results show that: (1) The AISC design code provided slightly conservative results of square CFT stub columns with reliability indices larger than 3.25 and the uniformness of reliability indices is no better because of the quality of the resistance model; (2) The uniformness of reliability indices for the Eurocode 4 was better than that of AISC, but the reliability indices of columns designed following the Eurocode 4 were found to be quite below the target reliability level of Eurocode 4.

• Journal of Environmental Science International
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• v.13 no.4
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• pp.349-357
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• 2004

Emergy is a measure of the processes required to produce something expressed in units of the same energy form. Emergy based indices can provide insights into the thermodynamic efficiency of the process, the quality of its output, and the interaction between the process and its surrounding environment. However, in an industrial system, the inputs are mostly nonrenewable, renewable energy source is nearly zero, ultimate purpose is pursuit of profits in economic activity. In study, we present two indices based on emergy - EEE(Ecological Economic Efficiency) and ERI(Environmental Responsibility Index). The EEE is taken into account real value of product in market economy. The ERI is shown to be a function of the net yield of the economy, its ‘load’ on the environment and ecological economic efficiency. Manufacturing industry of Korea produced the 30% of total GDP in 2001. We applied these indices to manufacturing industry for environmental management and further sustainable industry. As a results, the highest ERI is 0.34 in recycling industries, the lowest ERI is 0.01 in coke, refined petroleum products which is dominated by ELR. The higher ERI, the more friendly to environment. The suggested indices help us understand relative contributions of various alternatives in company's production and consumption activity, and provide a tool of decision-making for the rearrangement of future industries. Furthermore, they contribute to environmental friendly operation and consumption.

• Journal of Advanced Marine Engineering and Technology
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• v.17 no.5
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• pp.18-32
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• 1993

A marine engine system (MES) should be evaluated by not only reliability (R) but also maintainability (M) and manning index (MI), because this system can be recognised as a typical man-machine system. In 1977 at the first ICMES Conference in Paris one of the authors presented a total evaluation of the MES with the three indices, R, M, MI, proving the human ability of detecting faults and defects in this system. This paper describes how the MES has developed from the point of view of the above three indices during the past 30 years in Japan and its problems in the future, and arrives at the following conclusions : the reliability of the MES has developed due to quality control (QC) ; the maintainability of the MES has improved due to education and training ; the manning index of the MES has improved due to Rand M ; the availability of the MES has kept constant due to the decreasing complement onboard, at the rate of one person per year approximately ; and two esimations having the three indices were shown by the SRIC 1990 Data Base in Japan, for the two kinds of subsystems in the developed MES.

• Korean Journal of Ecology and Environment
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• v.57 no.1
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• pp.51-59
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• 2024

This note summarizes the application of zooplankton indices for water quality management and estimation based on main research topics of articles focusing on wetland ecosystems, topics that are remained poorly investigated in S. Korea. The aquatic ecosystem-based consists of indices that respond to different target environmental factors, including environmental disturbance. Among the major indicator species and biota, we reviewed that management strategy for the wetland environment has to be focused more on small-sizes, in terms of zooplankton ecology and indices. The ecology of zooplankton communities in freshwater ecosystem has been the focus of an increasing number of studies since 2019, and considerable progress has been made in understanding the major mechanisms involved in regulating their abundance, diversity and spatio-temporal patterns. Even though studies on the freshwater ecosystem in Korea have a long history, a few of studies on zooplankton biota were conducted at wetlands. We suggested the candidate zooplankton indices proposed by the U.S. EPA and EU to suit Korean conditions. In the step of selecting metrics, the best available metrics are species-related variables, such as composition and abundance, as well as richness and diversity. Overall, in spite of several limitations, the development of a plankton-based multivariate assessment method in Korea wetlands is possible using mostly field research data. Later, it could be improved based on qualitative metrics on zooplankton, and with the emergence of further survey data. The present information can be used as basic information for researchers who are dealing with aquatic environments and its interaction with organisms.

• Ocean and Polar Research
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• v.33 no.1
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• pp.85-97
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• 2011

The tidal flats of Korea today have reduced by 40% in size compared to 1964. To manage this important habitat properly, development of well-organized and nationwide-applicable grading systems is required. There have been several assessment systems proposed previously in Korea, but they are critically flawed in that selected biological indicators are not adequate and grading criteria are obscure and arbitrary. We reviewed the indicators used in these previous evaluation systems (e.g., diversity indices, quantity and quality of benthic macrofauna, halophytes, water birds, etc.) and subsequently proposed new indicators and an improved grading scheme. For the quantitative assessment of macrobenthic community, biomass reflecting production and ecosystem function is recommended over density, which is much less discriminatory among habitats. Of biodiversity indices used, within-, between-habitat and regional biodiversity indices that accurately reflect sampling efforts are suggested. In addition, we proposed to include species rarity, ecosystem engineers, and the ecological quality index ISEP (Inverse function of Shannon-Wiener Evenness Proportion). As for halophytes, their low spatial coverage on benthic habitat suggests that their presence can be used as an ecological indicator of benthic habitat, regardless of their protective status. We stress the need to introduce 1) quantile approach for quantitative indicators (e.g., diversity, biomass, etc.) in relation to grading, 2) presence-absence approach for spatial or aggregate indicators (e.g., boundaries of halophytes and feeding ground of water birds) and 3) benthic habitat mapping that combines all of these indicators.

• Journal of The Korean Society of Agricultural Engineers
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• v.54 no.6
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• pp.89-99
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• 2012

An upland monitoring was conducted for about 4 years with respect to the water and quality of rainfall-runoff. The objective was to characterize of runoff and nonpoint source (NPS) pollution from a sandy field with 4.5 % in slope under balloonflower (2008-2010) and potato (2011) cultivation. Balloonflower was cultivated without any surface cover but potato was grown under plastic mulching. Runoff rate, EMCs and NPS pollution loads were estimated. The first flush effect was evaluated, and the correlation coefficient among the selected water quality indices were analyzed. Average rainfall size was higher by 2.3 mm when balloonflower was cultivated but average runoff rate was higher by 0.02 when potato was cultivated due to the plastic mulching. EMCs monitored from balloonflower field were higher than potato field except SS and TN, but all NPS pollution loads of potato field were 2.1~22.9 times greater than balloonflower field because of larger runoff volume. As a result of first flush effects, balloonflower and potato field were more influenced by increasing of accumulated rainfall and rainfall intensity rather than first flush. In the result of correlation analysis, there were no evident correlations between runoff and water quality indices. However, there were obvious correlations between SS and the other indices except TN. As a result of this study, it was thought that perennial balloonflower crop could help reduce runoff and NPS pollution loads but annual crop with plastic mulching increase them.