• The Korean Journal of Financial Management
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• v.26 no.4
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• pp.103-140
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• 2009

This paper investigates various channels through which liquidity can affect stock returns and examines whether behavioral explanation for liquidity risk is reasonable. First, we examine whether liquidity level (average liquidity) plays a significant role in determining asset returns. The result is consistent with the hypothesis that a stock with higher average illiquidity will have a higher expected return. Second, we focus on the argument that liquidity has a non-diversifiable systematic component. If systemic liquidity has a different impact across individual securities, a stock that is more sensitive to systematic liquidity will have a higher expected return. The results of various tests are inconsistent with each other, not completely supporting the argument. Finally, the intra-market tests in Korea support the behavioral explanation for the liquidity premium, and the effect is stronger in the liquidity level than in the liquidity beta related to systematic liquidity.

• Environmental and Resource Economics Review
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• v.24 no.3
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• pp.551-572
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• 2015

Given the presence of global warming, the economic impact of climate changes on output sales has been discussed in the literature, but rarely with empirical evidences. In this present study, a simple log-model was employed to identify the economic impacts of weather changes in manufacturing and service sectors in Korea. For this empirical exercise, weather variables including the CDD (cooling degree days) and HDD (heating degree days) were computed using the Korea's meteorological records covering the period 1970-2012. According to estimation results, 26.7% (144 over 539) and 27.9% (64 over 229) of the manufacturing and service sectors, respectively, are found to be weather-sensitive.

• Journal of applied mathematics & informatics
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• v.39 no.5_6
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• pp.677-688
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• 2021

In the modern financial market, the scale of financial instrument transactions in the over-the-counter (OTC) market are increasing. However, in this market, there exists a counterparty credit risk. Herein, we obtain a closed-form solution of power option with credit risks, using the double Mellin transforms. We also use a numerical method to compare the differentiations of option price between the closed-form solution and Monte-Carlo simulation. The result shows that the closed-form solution is precise. In addition, the option's price is sensitive to the exponent of the maturity stock price.

• Steel and Composite Structures
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• v.48 no.5
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• pp.499-505
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• 2023

Geological hazards in landslide is one of the most extensive and destructive phenomena are among natural disasters. According to the topography high mountains, tectonic activity, high seismicity, diverse conditions Geology and climate, basically China to create a wide spectrum of landslides have natural conditions and these landslides are annual. They cause a lot of financial losses to the country. It is very difficult to predict the time of the landslide, hence the identification landslide sensitive areas and zoning of these areas based on the potential risk is very important. Therefore, it should be susceptible areas landslides should be identified in order to reduce damages caused by landslides find. the main purpose of landslide sensitivity analysis is identification high-risk areas and as a result, reducing damages caused by landslides It is the way of appropriate actions.

• Food Science of Animal Resources
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• v.44 no.1
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• pp.19-38
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• 2024

Meat contains high-value protein compounds that might degrade as a result of oxidation and microbial contamination. Additionally, various pathogenic and spoilage microorganisms can grow in meat. Moreover, contamination with pathogenic microorganisms above the infectious dose has caused foodborne illness outbreaks. To decrease the microbial population, traditional meat preservation methods such as thermal treatment and chemical disinfectants are used, but it may have limitations for the maintenance of meat quality or the consumers acceptance. Thus, non-thermal technologies (e.g., high-pressure processing, pulsed electric field, non-thermal plasma, pulsed light, supercritical carbon dioxide technology, ozone, irradiation, ultraviolet light, and ultrasound) have emerged to improve the shelf life and meat safety. Non-thermal technologies are becoming increasingly important because of their advantages in maintaining low temperature, meat nutrition, and short processing time. Especially, pulsed light and pulsed electric field treatment induce few sensory and physiological changes in high fat and protein meat products, making them suitable for the application. Many research results showed that these non-thermal technologies may keep meat fresh and maintain heat-sensitive elements in meat products.

• Proceedings of the Korean Information Science Society Conference
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• 2003.04c
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• pp.401-403
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• 2003

인유두종 바이러스는 표피세포에 감염되는 DNA 바이러스로 자궁경부암을 일으키는 가장 큰 요인이다. 현재까지 100 여개의 종류가 알려져 있고 악성종양 유발 가능성에 따라 위험군을 나누는데. 여기서 중요한 것은 고위험군을 저위험군으로 잘못 분류하는 것을 최소화하는 것이다. 본 논문에서는 분류를 위한 데이터로 인유두종 바이러스에 관한 문서 자료들을, 기계 학습 방법으로 분류 비용을 고려해 줄 수 있는 비용 의존 학습을 이용하였다. 실험결과. 비용을 고려해 주는 것이 고려하지 않았을 때보다 더 종은 성능을 나타내었다.

• Earthquakes and Structures
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• v.14 no.6
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• pp.577-587
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• 2018

The quantitative assessment of the seismic collapse risk of a structure requires the usage of an optimal intensity measure (IM) which can adequately characterise the severity of the ground motion. Research suggests that the average spectral acceleration ($Sa_{avg}$) may be an efficient and sufficient alternate IM as compared to the more traditional first mode spectral acceleration, $Sa(T_1)$, particularly during seismic collapse risk estimation. This study primarily presents a comparative evaluation of the sufficiency of the average spectral acceleration with respect to ground motion duration, and secondarily assesses the impact of ground motion duration on collapse risk estimation. By assembling a suite of 100 historical ground motions, incremental dynamic analysis of 60 different inelastic single-degree-of-freedom (SDF) oscillators with varying periods and ductility capacities were analysed, and collapse risk estimates obtained. Linear regression models are used to comparatively quantify the sufficiency of $Sa_{avg}$ and $Sa(T_1)$ using four significant duration metrics. Results suggests that an improved sufficiency may exist for $Sa_{avg}$ when the period of the SDF system increases, particularly beyond 0.5, as compare to $Sa(T_1)$. In reference to the ground motion duration measures, results indicated that the sufficiency of $Sa_{avg}$ is more sensitive to significant duration definitions that consider almost the full wave train of an accelerogram ($SD_{a5-95}$ and $SD_{v5-95}$). In order to obtain a reduced variability of the collapse risk estimate, the 5-95% significant duration metric defined using the Arias integral ($SD_{a5-95}$) should be used for seismic collapse risk estimation in conjunction with $Sa_{avg}$.

• Kidney Research and Clinical Practice
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• v.37 no.4
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• pp.404-413
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• 2018

Background: Dynapenic obesity and sarcopenic obesity increase cardiovascular disease (CVD) and mortality in nonuremic patients. The present study was designed to determine the prevalence of dynapenic obesity and sarcopenic obesity and their associations with CVD risk factors in peritoneal dialysis (PD) patients. Methods: All eligible PD patients in Tehran peritoneal dialysis centers were included in this cross-sectional study. Skeletal muscle mass and fat mass were assessed using bioelectrical impedance analysis. Muscle strength and physical performance were determined using hand grip strength and a 4-meter walk gait speed test, respectively. In addition, a 5-mL blood sample was obtained from each patient. Results: The prevalence of dynapenic obesity and sarcopenic obesity were 11.4% and 3.8% in PD patients, respectively. Serum high-sensitive C-reactive protein (hs-CRP), soluble intercellular adhesion molecule type 1, triglyceride, total cholesterol, and low-density lipoprotein cholesterol were significantly higher in PD patients with dynapenic obesity than in dynapenic nonobese and nondynapenic nonobese patients. Similarly, serum concentrations of CVD risk factors in PD patients with sarcopenic obesity were higher than in nonsarcopenic nonobese patients, but these differences were statistically significant only for serum hs-CRP and triglyceride. In addition, muscle strength and skeletal muscle mass percentage were negatively associated with markers of inflammation and dyslipidemia, whereas body fat percentage was positively associated with these CVD risk factors. Conclusion: This study indicates that although the prevalence of dynapenic obesity and sarcopenic obesity are relatively low in PD patients, these disorders may be associated with CVD risk factors.

• Journal of the Architectural Institute of Korea Planning & Design
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• v.35 no.6
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• pp.3-12
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• 2019

Current risk assessment methods typically determine accident risks embedded in construction projects by combining severity and frequency; however, they do not reflect the characteristics of construction projects. To solve the problem, this study aims to develop a novel risk assessment method that combines severity, frequency, and disaster influence factors (i.e., weather conditions and worker's characteristics) for assessing risks of activities occurring on a construction site actually. In this study, a severity was estimated by death against victims, and a frequency was estimated by the victim rate. The frequency was then converted to probability taking disaster influence factors into account. Thus, instead of considering severity and frequency for assessing the original risks (RO), the proposed method uses severity and probability to yield adjusted risks (RA) for each activity. A case study was conducted to determine if the proposed method works as intended in a real setting. The results show that RA is more sensitive to disaster influence factors than RO and, therefore, is able to assess the actual risks reflecting the working environment and conditions of a construction site. This study contributes to risk management of construction projects by offering a risk assessment method that measures a possibility of potential disasters from the probabilistic perspective. This method would help project managers assess accident risks in a more systematic and quantitative manner.

• Journal of Korean Society of Occupational and Environmental Hygiene
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• v.32 no.3
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• pp.253-267
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• 2022

Objectives: This study was performed to check whether the CRS (Chemical Ranking and Scoring) system is appropriate as a method to determine substances as candidates for substances subject to permission and to apply this system to the selection of candidates for substances subject to permission. Methods: A risk score was obtained by multiplying the hazard score and the exposure score and then ranking them. The hazard sub-indicators are carcinogenicity, germ cell mutagenicity, reproductive toxicity, specific target organ toxicity-repeated exposure, respiratory sensitization and endocrine disrupting chemicals. Exposure sub-indicators are persistence, bioaccumulation and emission volume. Sensitivity analysis was performed for missing values. Correlation analysis and multivariable linear regression analysis were performed among hazard, exposure and risk in order to confirm that CRS was an appropriate method. Results: As a result of the sensitivity analysis on missing values, it was confirmed that the effect on the risk ranking was not sensitive. Correlation and regression analysis confirmed that exposure had a greater effect on risk than hazard. Conclusions: The CRS system, which derives a risk score using a hazard and exposure score, is judged to be appropriate as a method for the selection of preliminary of candidates for substances subject to permission. Benzene, cadmium, nickel, and cobalt were selected as priority candidates for substances subject to permission.