• Journal of Power Electronics
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• 제14권3호
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• pp.531-540
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• 2014

A novel carrier-based PWM (CBPWM) strategy of a three-level NPC converter is proposed in this paper. The novel strategy can eliminate the low-frequency neutral point (NP) voltage oscillation under the entire modulation index and full power factor. The basic principle of the novel strategy is introduced. The internal modulation wave relationship between the novel CBPWM strategy and traditional SPWM strategy is also studied. All 64 modulation wave solutions of the CBPWM strategy are derived. Furthermore, the proposed CBPWM strategy is compared with traditional SPWM strategy regarding the output phase voltage THD characteristics, DC voltage utilization ratio, and device switching losses. Comparison results show that the proposed strategy does not cause NP voltage oscillation. As a result, no low-frequency harmonics occur on output line-to-line voltage and phase current. The novel strategy also has higher DC voltage utilization ratio (15.47% higher than that of SPWM strategy), whereas it causes larger device switching losses (4/3 times of SPWM strategy). The effectiveness of the proposed modulation strategy is verified by simulation and experiment results.

• 한국자동차공학회논문집
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• 제10권3호
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• pp.201-208
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• 2002

In this paper, the control strategy of ratio changing system for a metal belt CVT adopting primary pressure regulation is developed, and the shirting performance of pressure regulating type CVT with the suggested control strategy is investigated. The control strategy suggested in this study is composed of 2 feedback loop, one is speed ratio feedback and the other is primary pressure feedback. The pressure feedback is adopted to ensure prohibiting a belt slip during transient period in a fast downshift mode. Simulation results show that the system with suggested control strategy gives appropriate response time and tracking Performance for upshift and also gives a proper primary pressure which can prohibit the belt slip. In addition, it is fecund that the given system has an acceptable servo property in tracking the target speed ratio and robustness for the disturbance of line pressure.

• International Journal of Costume and Fashion
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• 제5권1호
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• pp.75-89
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• 2005

The purpose of this study is to empirically ascertain how the fitness between marketing strategy each firm chooses and environment facing each firm affects the performance of firms measured by the growth rate of market share and the growth rate of profit/sales ratio. In doing so, firms are divided into three groups. With regard to the marketing strategy, firms are classified into three groups based on marketing strategy type; prospector, analyzer, and defender. The main result of this study are as follows: First, responding firms are classified into prospector, analyzer, and defender following Miles & Snow's marketing strategy types. This classification is made using a self typing method and further confirmed by a factor analysis using a number of variables relating marketing objectives and marketing mix. Second, the results show that there are significant differences across marketing strategies in the performance measures of the growth rate of market share and profit/sales ratio. It seems, however, that there is no straight forward relationship between the marketing strategy and the performance measures. This strongly implies that the type of marketing strategy to be adopted by each firm should depend on the environment facing each firm. Third, the result indicates that the growth rate of market share tends to depend only on the marketing strategy type regardless of sufficiency and variation of environment, but profit/sales ratio tends to depend on the fitness between marketing strategy type and environment. It implies that a firm should adopt different marketing strategies for different environment characteristics, in order to enhance the efficiency of resources used reflected in the profit/sales ratio.

• Journal of the Korean Statistical Society
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• 제31권2호
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• pp.143-152
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• 2002

In an effort to make a right choice among ratio estimation strategies and PPS sampling strategies, we conduct an empirical investigation of the relative performances of three ratio estimation strategies and four PPS estimation strategies using a set of 12 natural populations. The quality of a strategy is measured in the traditional way, namely with the consideration of efficiency, achieved coverage rate of the nominal 99% confidence interval and approach to normality (asymmetry).

• 산업경영시스템학회지
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• 제37권4호
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• pp.202-211
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• 2014

Pairs trading is a type of arbitrage investment strategy that buys an underpriced security and simultaneously sells an overpriced security. Since the 1980s, investors have recognized pairs trading as a promising arbitrage strategy that pursues absolute returns rather than relative profits. Thus, individual and institutional traders, as well as hedge fund traders in the financial markets, have an interest in developing a pairs trading strategy. This study proposes pairs trading rules (PTRs) created from a price ratio between securities (i.e., stock index futures) using rough set analysis. The price ratio involves calculating the closing price of one security and dividing it by the closing price of another security and generating Buy or Sell signals according to whether the ratio is increasing or decreasing. In this empirical study, we generate PTRs through rough set analysis applied to various technical indicators derived from the price ratio between KOSPI 200 and S&P 500 index futures. The proposed trading rules for pairs trading indicate high profits in the futures market.

• 한국자동차공학회논문집
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• 제8권3호
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• pp.85-97
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• 2000

In this paper, static and dynamic shift control stategies of CVT speed ratio are suggested. For the static shift control, in order to operate engine on the optimal operating region, a fuzzy control logic is used. In the fuzzy logic, S- factor that is defined as a degree of sportiness is introduced. Simulation results show that the static shift control strategy based on the fuzzy logic selects the optimal operating point automatically between the economy and the sporty mode corresponding to the driver's desire and the driving condition. For the dynamic shift control strategy, a shift speed map is suggested which determines the shift sped as fast or slow based on Δi, the difference between the desired speed ratio id and the actual speed ratio i, and throttle opening. It is seen from the simulation results that the CVT shift speed is determined by the dynamic shift control strategy to provide appropriate performance and comfort for the driver's demand and driving condition. Additionally, experiments are performed to investigate the dynamic performance of the shift speed for the lift foot up. From the experimental results, it is found that improved shift feeling can be obtained by the dynamic shift control strategy when lift foot up occurs.

• 경영과학
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• 제30권3호
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• pp.1-16
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• 2013

In this paper, we deal with an enhanced index fund strategy by implementing the exchange trade funds (ETFs) within the context of the Black-Litterman approach. The KOSPI200 index ETF is used to build risk-controlled portfolio that tracks the benchmark index, while the proposed Black-Litterman model mitigates estimation errors in incorporating both active investment views and equilibrium views. First, we construct a Black-Litterman model portfolio with the active market perspective based on the momentum strategy. Then, we update the portfolio with the KOSPI200 index ETF by using the equilibrium return ratio and weighted averages, while devising optimization modeling for improving the information ratio (IR) of the portfolio. Finally, we demonstrate the empirical viability of the proposed enhanced index strategies with KOSPI 200 data.

• 대한가정학회지
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• 제41권5호
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• pp.41-58
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• 2003

The purpose of this study is to develop and evaluate a social competence enrichment program for institutionalized children in early childhood. The program was developed to enhance institutionalized children's social competence. The program consists of sixteen 30-minute sessions. 19 institutionalized children (11 boys and 8 girls) participated in this program. The effect of this program was evaluated by institutionalized preschool children's emotional knowledge and interpersonal problem solving strategy. Assessment of emotional knowledge consists of identification and situation task. Interpersonal problem solving strategy includes forceful, prosocial, and manipulative strategy. Results showed that there was a significant experimental effect for emotional knowledge. Experimental children showed higher scores of emotional knowledge than control children. Also, there was a significant experimental effect for prosocial and forceful strategy. Experimental children showed higher ratio of prosocial strategy and lower ratio of forceful strategy than control children. The results of program evaluation revealed that this program was helpful for promoting institutionalized children's social competence.

• 정보처리학회논문지A
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• 제10A권3호
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• pp.261-268
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• 2003

본 논문에서는 파일이 요청된 순간에는 파일의 선호도만을 조사하고, 일정 시간이 흐른 후에 선호도가 높을 것으로 예상되는 파일들을 일관적으로 캐싱하는 새로운 캐싱 전략을 소개한다. 예측된 선호도 기반 게으른 캐싱 전략(Forecasted Popularity Based Lazy Caching Strategy)은 웹 파일의 선호도를 지수평활법을 사용하여 예측하여 기존의 캐싱 전략보다 높은 캐시 적중률을 보여준다. 국내외 5개 웹 서버로부터 수집한 로그 파일을 대상으로 실험한 결과에 의하면, 선호도의 예측이 정확할수록 높은 캐시 적중률을 나타낸다. 이는 엘 파일의 선호도 예측 기법에 대한 연구를 통해 캐시의 성능을 향상시킬 수 있음을 보여준다.

• 유통과학연구
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• 제13권9호
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• pp.37-45
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• 2015

Purpose - This paper's aim is to investigate whether or not gross profitability explains the cross-sectional variation of the stock returns in the Korean stock market. Gross profitability is an alternative profitability measure proposed by Novy-Marx in 2013 to predict cross-sectional variation of stock returns in the US. He shows that the gross profitability adds explanatory power to the Fama-French 3 factor model. Interestingly, gross profitability is negatively correlated with the book-to-market ratio. By confirming the gross profitability premium in the Korean stock market, we may provide some implications regarding the well-known value premium. In addition, our empirical results may provide opportunities for the fund distribution industry to promote brand new styles of funds. Research design, data, and methodology - For our empirical analysis, we collect monthly market prices of all the companies listed on the Korea Composite Stock Price Index (KOSPI) of the Korea Exchanges (KRX). Our sample period covers July1994 to December2014. The data from the company financial statementsare provided by the financial information company WISEfn. First, using Fama-Macbeth cross-sectional regression, we investigate the relation between gross profitability and stock return performance. For robustness in analyzing the performance of the gross profitability strategy, we consider value weighted portfolio returns as well as equally weighted portfolio returns. Next, using Fama-French 3 factor models, we examine whether or not the gross profitability strategy generates excess returns when firmsize and the book-to-market ratio are controlled. Finally, we analyze the effect of firm size and the book-to-market ratio on the gross profitability strategy. Results - First, through the Fama-MacBeth cross-sectional regression, we show that gross profitability has almost the same explanatory power as the book-to-market ratio in explaining the cross-sectional variation of the Korean stock market. Second, we find evidence that gross profitability is a statistically significant variable for explaining cross-sectional stock returns when the size and the value effect are controlled. Third, we show that gross profitability, which is positively correlated with stock returns and firm size, is negatively correlated with the book-to-market ratio. From the perspective of portfolio management, our results imply that since the gross profitability strategy is a distinctive growth strategy, value strategies can be improved by hedging with the gross profitability strategy. Conclusions - Our empirical results confirm the existence of a gross profitability premium in the Korean stock market. From the perspective of the fund distribution industry, the gross profitability portfolio is worthy of attention. Since the value strategy portfolio returns are negatively correlated with the gross profitability strategy portfolio returns, by mixing both portfolios, investors could be better off without additional risk. However, the profitable firms are dissimilar from the value firms (high book-to-market ratio firms); therefore, an alternative factor model including gross profitability may help us understand the economic implications of the well-known anomalies such as value premium, momentum, and low volatility. We reserve these topics for future research.