• 산업경영시스템학회지
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• 제34권4호
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• pp.152-161
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• 2011

The operation of vending machine system presents a decision-making problem which consists of determining the product allocation to vending-machine storage compartments, replenishment intervals of vending machines, and vehicle routes, all of which have critical effects on system profit. Especially, it becomes more difficult to determine the operation variables optimally when demand for a product that is out-of-stock spills over to another product or is lost. In this paper, we propose a heuristic for solving the operation problem of the vending machine system and evaluate it by comparing with Yang's algorithm on various test problems with respect to system profit via a computer simulation. The results of computational experiments show a substantial profit increase of the proposed heuristic over Yang's algorithm. Sensitivity analysis indicates that some input variables impact the profit increase significantly.

• 한국철도학회:학술대회논문집
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• 한국철도학회 2006년도 추계학술대회 논문집
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• pp.447-453
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• 2006

The major objective of this study is to investigate the fatigue behavior evaluation of immovability crossing for railway turnout by the field test. In railway engineering, an appliance is necessary to allow a vehicle to move from one track to another. This appliance came to be known technically as turnout. So, turnout is required very complex railway technologies such as rolling stock, track. Due to the plan under the application of high speed train, turnout are needed more stable for fatigue behaviors. It analyzed the mechanical behaviors of turnout crossing with propose its advanced technical type on the field test and fatigue evaluation for the dynamic fatigue characteristics. As a result, the advanced type crossing are obviously effective for the fatigue damage ratio and dynamic response which is non-modified type. The analytical and experimental study are carried out to investigate the passing path of contact surface and fatigue damage trend decrease dynamic stresses and deflections on advanced crossing type. And the advanced type reduce dynamic fatigue damage ratio and increase fatigue life(about each 38%)more than non-modified type. From the field test results of the servicing turnout crossing, it is evaluated that the modification of contact angle, weight, material and sectional properties is very effective for ensure against fatigue risks.

• 한국자동차공학회논문집
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• 제1권2호
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• pp.103-116
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• 1993

Recently, engineering ceramics called as the 3 material have been concerned significantly with some excellent mechanical properties and many functions as new materials for high precision mechanical components and engineering parts for at large. Then, for designing engineering parts using engineering ceramics, bending strength value data with high reliability is more essential than any other mechanical properties. But, because of brittleness and structural characteristic, it is very hard to grind with conventional tools, and the generation of cracks and various defects of engineering ceramics parts during grinding machining process are serious problems. Thus, in present study, surface grinding experiments with various machining conditions using resin bond diamond wheels are carried out to obtain the most excellent guality of testpiece surface and optimum step of grinding process for the high efficient stock removal rate to save running time. As the results from grinding experiments and 3-points bending strength test of ground Al2O3 ceramics parts on Korean Standard, manufactured in our country and Japan, basic technology and know-how to develop the optimum grinding machining conditions and also high bending strength values with high reliability are obtained.

• The Journal of Asian Finance, Economics and Business
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• 제6권1호
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• pp.59-69
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• 2019

The auditor, an important instrument of corporate governance, ensures the transparency and accountability of the firm to the stakeholders. The objective of this paper is to explore the impact of audit characteristics on firm performance. In this study, external audit quality (BIG4), frequencies of audit committee meetings, and audit committee size are used as the proxies of audit characteristics and firm performance is measured through ROA, profit margin and EPS. A total of 503 firm years are considered as sample size from the listed manufacturing firms of Dhaka Stock Exchange (DSE) during the period of 2013 to 2017 to find out the impact of audit characteristics on firm performance. In this study, multivariate regression analysis is conducted using the pooled OLS method. Moreover, time dummy and lag model of multivariate analysis are also analyzed as robust check. The multivariate regression results find that external audit quality (BIG4) and audit committee size are significantly positively associated with firm performance. This study also finds that there is a significant negative relationship between audit committee meeting and firm performance. This study recommends that the regulatory authority and audit committee should review the frequencies of audit committee meeting to make it more effective to ensure better firm performance.

• 산업경영시스템학회지
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• 제23권60호
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• pp.11-22
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• 2000

The main objective of this research is to analyze an order point and an order quantity of a distribution center and each branch to attain a target service level in multi-level inventory distribution system. In case of product item, we use the item with low volume of average monthly demand. Under the continuous review method, the distribution center places a particular order quantity to an outside supplier whenever the level of inventory reaches an order point, and receives the order quantity after elapsing a certain lead time. Also, each branch places an order quantity to the distribution center whenever the level of inventory reaches an order point, and receives the quantity after elapsing a particular lead time. When an out of stock condition occurs, we assume that the item is backordered. For considering more realistic situations, we use generic type of probability distribution of lead times. In the variable lead time model, the actually achieved service level is estimated as the expected service level. Therefore, this study focuses on the analysis of deciding the optimal order point and order quantity to achieve a target service level at each depot as a expected service level, while the system-wide inventory level is minimized. In addition, we analyze the order level as a maximum level of inventory to suggest more efficient way to develop the low demand item model.

• The Journal of Asian Finance, Economics and Business
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• 제8권10호
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• pp.361-371
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• 2021

This research aims to analyze the effects of managerial overconfidence and corporate governance on investment decisions. Besides, it also tries to discover the effect of internal financing mediation between managerial overconfidence and corporate governance on investment decisions. This study employed panel data from 44 manufacturing companies from 2014 to 2019, out of a total of 117, thus the total observations are 264. The hypothesis was verified through structural equation modeling (Smart PLS 2). The study revealed as follows: 1) Managerial overconfidence has a positive and significant effect on internal financing, while corporate governance has a negative and significant effect on internal financing, 2) managerial overconfidence, internal financing, and corporate governance have a positive and significant effect on investment decisions, 3) internal financing partially mediated the effect of managerial overconfidence on investment decisions, However, internal financing does not mediate the effect of corporate governance on investment decisions. The findings in this study will help company managers implement good corporate governance to improve investment efficiency. In addition, managers can reduce the proportion of retained earnings and increase the proportion of dividend payout ratios, and increase the use of external sources of funds in making investments to minimize agency costs and manager's opportunistic behavior.

• 농업과학연구
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• 제46권3호
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• pp.471-488
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• 2019

Random genes were screened in two transforming ways to investigate the new genes of a ladybug using the Harmonia axyridis cDNA library stock cell cloned in the LITMUS 28i vector in a previous study. Phenotypic variation was observed after injection of the synthesized double-stranded RNA through the in vitro transcription process. The cDNA library of H. axyridis was transformed into E. coli $DH5{\alpha}$ and 10B competent cells by heat shock. Analysis of the nucleotide sequences of the 42 clones with the insert DNAs revealed that 21 clones were homologous with the genes of insects, and only one clone had a gene from H. axyridis. Thirteen of the 21 insect genes were homologous with genes from coleopteran insects. Fourteen genes were selected, which were identified by the gene screening results, and were synthesized as double-stranded RNA through in vitro transcription. One microgram of the synthesized double-stranded RNA between segments T1 and T2 were injected using a syringe into each anesthetized fourth larvae which were under 2 days old. As a result, a phenotypic variation appeared in the larva injected with the two genes. While the eggs of H. axyridis injected with distilled water hatched out three days after oviposition, the eggs of H. axyridis injected with dsHma 06 did not hatch but become shrivel a week after oviposition. Most of the H. axyridis injected with dsHma 08 died and were unable to complete the pupation or eclosion during ecdysis.

• The Journal of Asian Finance, Economics and Business
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• 제8권2호
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• pp.183-194
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• 2021

This study aimed to examine the effect of corporate characteristics, including the industrial sector and scale of operation, financial leverage, profitability, operating period, and social reputation, on socio-ecological responsibility based on Global Reporting Initiative (GRI) standards. The study was conducted in the Indonesian context. A total of 90 public companies listed on the Indonesia Stock Exchange were selected as samples, with an observation period of 10 years. A univariate regression analysis was applied to test the hypotheses. The results showed that the industrial sector, scale of operation, financial leverage, profitability, operating period, and social reputation of the corporate had a positive effect on socio-ecological responsibility. This study also obtained evidence that there were differences in the level of socio-ecological responsibility among the industrial sectors. The higher the relationship between the industrial sector and the possibility of the emergence of social and environmental issues, the higher the level of corporate socio-ecological responsibility. From a policy perspective, the implication of the results of this study was that it could be used as a consideration by the authorities or regulators in Indonesia, particularly the Financial Services Authority (OJK), in determining specific indicators of socio-ecological responsibility that must be carried out by corporates.

• The Journal of Asian Finance, Economics and Business
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• 제8권1호
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• pp.305-315
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• 2021

This article aims to explore the contribution of social media value to a company's financial performance in a digital environment economy since the awareness of companies and investors in the use of social media opens up new mechanisms for disseminating information. Quantitative method is used in this study with Multivariate Analysis of Variance as the analysis tool. The data used is secondary data gathered from Indonesia Stock Exchange (IDX) using 308 companies as samples. In the multivariate test, four kinds of multivariate significance tests were carried out, namely Pillai Trace, Wilk Lambda, Hotelling's Trace, and Roy's Largest Root. It was found that social media value has a small contribution in the difference of the level of profitability and the value of the company in Indonesia, but it doesn't have a contribution to the difference of the level of liquidity. The contribution was an implication of online Word of Mouth (WOM) motives which are interrelated with signal theory and as additional information for investors in relation to single-person decision theory. This study provides an insight into the importance of social media management considering that the world of digital economy will continue to develop, so companies in Indonesia need to take advantage of these opportunities.

• The Journal of Asian Finance, Economics and Business
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• 제8권3호
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• pp.373-381
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• 2021

This study aims to investigate the impact of financial distress on the cash holding of non-financial companies in Indonesia as the largest emerging economy among ASEAN countries. Furthermore, the sub-sample business group to be investigated were divided into two, groups namely affiliated and non-affiliated groups. This was carried out to ascertain the difference in the impact of financial distress on cash holding between both groups. Sample collection was based on all firms listed on the Indonesian Stock Exchange (IDX) during 2008-2017, comprising 137 firms. The results showed that using the two-step system Generalized Method of Moments (GMM), the coefficients for financial distress (Z-Score) indices were positive and significant for all models. Therefore, the higher the Z-Score value, the lower the company's financial distress and vice versa. This implies that the lower the company's financial distress, the lower the cash holding. Furthermore, a positive and significant impact of the Z-Score on cash holding for non-affiliated groups was discovered. This implies that there are differences in the amount of cash holding between affiliated and non-affiliated groups. This result indicates that non-affiliated groups hold more cash during financial distress. However, these results had cash policy implications, particularly for non-affiliated groups.