• KDI Journal of Economic Policy
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• v.34 no.3
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• pp.95-131
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• 2012

This study examines whether the executive turnover and the executive resignation during the term of office affect the performance of Korean state-owned enterprises. The executive turnover in the paper means the comprehensive change of the executives which includes the change after the term of office, the change after consecutive terms and the change during the term of office. The 'resignation' was named for the executive change during the term of office to distinguish from the executive turnover. The study scope of the paper is restrained to the comprehensive executive change itself irrespective of the term of office and the resignation during the term of office. Therefore the natural change of the executive after the term of office or the change after consecutive terms is not included in the study. Spontaneous resignation and forced resignation are not distinguished in the paper as the distinction between the two is not easy. The paper uses both the margin of return on asset and the margin of return on asset adjusted by industry as proxies of the performance of state-owned enterprises. The business nature of state-owned enterprise is considered in the study, the public nature not in it. The paper uses the five year (2004 to 2008) samples of 24 firms designated as public enterprises by Korean government. The analysis results are as follows. First, 45.1% of CEOs were changed a year during the sample period on the average. The average tenure period of CEOs was 2 years and 3 months and 49.9% among the changed CEOs resigned during the term of office. 41.6% of internal auditors were changed a year on the average. The average tenure period of internal auditors was 2 years and 2 months and 51.0% among the changed internal auditors resigned during the term of office. In case of outside directors, on average, 38.2% were changed a year. The average tenure period was 2 years and 7 months and 25.4% among the changed internal directors resigned during the term of office. These statistics show that numerous CEOs resigned before the finish of the three year term in office. Also, considering the tenure of an internal auditor and an outside director which diminished from 3 years to 2 years by an Act on the Management of Public Institutions (applied to the executives appointed since April 2007), it seems most internal auditors resigned during the term of office but most outside directors resigned after the end of the term. Secondly, There was no evidence that the executives were changed during the term of office because of the bad performance of prior year. On the other hand, contrary to the normal expectation, the performance of prior year of the state-owned enterprise where an outside director resigned during the term of office was significantly higher than that of other state-owned enterprises. It means that the clauses in related laws on the executive dismissal on grounds of bad performance did not work normally. Instead it can be said that the executive change was made by non-economic reasons such as a political motivation. Thirdly, the results from a fixed effect model show there were evidences that performance turned negatively when CEOs or outside directors resigned during the term of office. CEO's resignation during the term of office gave a significantly negative effect on the margin of return on asset. Outside director's resignation during the term of office lowered significantly the margin of return on asset adjusted by industry. These results suggest that the executive's change in Korean state-owned enterprises was not made by objective or economic standards such as management performance assessment and the negative effect on performance of the enterprises was had by the unfaithful obeyance of the legal executive term.

• Transactions of the Korean Society of Mechanical Engineers B
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• v.35 no.9
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• pp.915-922
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• 2011

In this paper, the unsteady incompressible Navier-Stokes equation coupled with energy equation was solved in order to investigate the thermal stimulation of continuous moxibustion using a commercial code (ANSYS-Fluent). In the simulations, various periods were selected for the continuous moxibustion, which was done by burning multiple disks successively. It has been found that the depth of the effective stimulation zone increases only when the replacing temperature is equal or larger than body temperature whereas the increase rate of the effective stimulation depth decreases as the number of disc increases. Further, it has been shown that the optimal period, for which the duration time of the effective stimulation zone is maximum, exists.

• Proceedings of the Military Operations Research Society of Korea Conference
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• 2005.10d
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• pp.1-34
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• 2005

함정은 수많은 장비 및 무기체계로 구성된 복합무기체계로서 장비유지비용이 타 무기체계에 비해 크며, 운용 및 교체시 막대한 국방예산이 소요된다. 본 연구의 목적인 함정교체를 위한 도태시기, 즉 함정수명 결정시 고려요소로서는 첫째, 전략, 전술상의 요소 둘째, 장비의 성능 요소 셋째, 운영유지비의 비용 요소 넷째, 군수지원상의 문제 다섯째, 예산상의 문제 등이 고려된다. 그러나 본 연구는 함정이란 복합무기체계의 수명을 결정하는 요소 중 정책적인 고려사항 등은 제외하고, 경제성 측면을 고려한 함정의 수명을 추정, 제시한다. 연구 절차는 무기체계 획득단계에서 경제성 평가를 수행하기 위한 방법으로 앞으로 도입될 장비에 대한 수명주기비용을 추정하고, 그 결과를 활용하여 장비의 경제수명을 결정할 수 있는 방법을 제시하였다. 즉, 현재 국방 분야에서 비용추정을 위해 널리 사용되고 있는 PRICE 전산모델을 이용하여 운영유지비용을 포함한 수명주기 전반에 대한 항목별 비용을 추정하는 방법을 제시하고, 이 자료를 바탕으로 경제수명 결정 모형 중 적합하다고 판단된 등가 연간 비용방법을 적용하여 등가 유지비용과 자본회수비가 최소가 되는 시점을 장비의 경제수명으로 결정한 것이다. 제시된 절차를 이지스 구축함(KDX-III)에 적용하여 경제수명을 결정한다. 본 연구에서 제시된 방법을 통해 보다 과학적이고 경제적으로 함정의 도태시기를 결정하는데 사용함으로써 국방예산 절감에 기여하게 될 것으로 판단된다.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.10 no.4
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• pp.877-886
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• 2009

Since 1982, the auditee have selected the auditor under market mechanism. Under the system on which the auditor have been chosen by client, there have been chances for opinion shopping, etc. To prevent those, some audit regulations have been introduced. Prior studies have documented the positive effect of these audit regulations. Those studies, however, had some limitations which they dealt with just short event period for empirical tests. This study examines the effect of Auditor Turnover Ratio on the Quality of Earnings using a sample of firms that were listed on Korea Exchange(KRX) from 1995 to 2004. The firms that change auditor frequently are expected to have low disclosure quality. The CEO with the incentives to manage or manipulate earnings could accomplish this purpose by replacing existing auditor with more friendly auditor, which could result in eventually lowering earning's quality of the firm. The result of empirical test shows that the accrual quality of firms which have high auditor turnover ratio are significantly lower than those of firms which have low ratio. This result is consistent with our hypothesis that the more frequently a firm changes auditor, the lower the quality of earning is. This evidence might give the implication to policy-making supervisor.

• Journal of Climate Change Research
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• v.3 no.3
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• pp.183-193
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• 2012

In this study, the S University's energy usage, greenhouse gas emissions situation and potential reduction amount were analyzed using a long-term energy analysis model, LEAP. In accordance with the VISION 2020 and university's own improvement plans, S University plans to complete a second campus through expansion constructions by 2020 and by allocating the needed land. Accordingly, increases in energy usage and greenhouse gas emissions seem inevitable. Hence, in this study, the calculations of potential reduction amount by 2020 were attempted through the use of LEAP model by categorizing the energy used based on usage types and by proposing usage typebased reduction methods. There were a total of 4 scenarios: a standard scenario that predicted the energy usage without any additional energy reduction activity; energy reduction scenario using LED light replacement; energy reduction scenario using high efficiency building equipment; and a scenario that combines these two energy reduction scenarios. As scenario-based results, it was ascertained that, through the scenario that had two other energy reduction scenarios combined, the 2020 greenhouse gas emissions amount would be 14,916 tons of $CO_2eq$, an increase of 43.7% compared to the 2010 greenhouse gas emissions amount. Put differently, it was possible to derive a result of about 23.7% reduction of the greenhouse gas emissions amount for S University's greenhouse gas emissions amount through energy reduction activities. In terms of energy reduction methods, changing into ultra-high efficiency building equipment would deliver the most amount of reduction.

• The Korean Journal of Applied Statistics
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• v.28 no.1
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• pp.83-92
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• 2015

Concerning the national health, it is important to develop an accurate prediction method of atmospheric particulate matter (PM) because being exposed to such fine dust can trigger not only respiratory diseases as well as dermatoses, ophthalmopathies and cardiovascular diseases. The National Institute of Environmental Research (NIER) employs a decision tree to predict bad weather days with a high PM concentration. However, the decision tree method (even with the inherent unstableness) cannot be a suitable model to predict bad weather days which represent only 4% of the entire data. In this paper, while presenting the inaccuracy and inappropriateness of the method used by the NIER, we present the utility of a new prediction model which adopts boosting with quantile loss functions. We evaluate the performance of the new method over various ${\tau}$-value's and justify the proposed method through comparison.

• Journal of Wetlands Research
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• v.15 no.3
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• pp.357-366
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• 2013

This study investigates to explain preference heterogeneity of respondents for economic valuation in washland of Upo wetland using Mixed Logit Model and Latent Class Model. Mixed Logit Model showed respondent heterogeneity in the attributes of wetland area and funds as well as some alternatives violated IIA assumption. 2-class Latent Class Model for respondents were used to explain the sources of the heterogeneity. Class 1 respondents who are located relatively close to Upo wetland had more experience and knowledge of Upo wetland and better understood the information suggested in the questionnaire than class 2 respondents in mostly metropolitan area of Seoul, Incheon.

• Proceedings of the Korea Water Resources Association Conference
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• 2016.05a
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• pp.362-366
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• 2016

기후 변화에 따른 국지성 집중호우, 게릴라성 호우는 도심지역 홍수피해의 주요 원인으로, 이러한 극한 강우사상에 대해 도시지역의 침수피해를 선제적으로 대응하기 위해서는 강우-유출모의 현상을 과학적인 방법으로 분석할 필요가 있다. 이러한 이유로 주요 침수발생지역에 국한하여 강우-유출 해석이 수행되어왔지만, 도시전체에 대한 분석은 시간적, 인력적 제약으로 분석이 어려운 실정이다. 본 연구에서는 대표적 도시지역인 서울시의 전체 239개 배수분구를 83개 배수구역으로 구분, 서울시 최신 UIS자료를 이용하여 각 배수구역별 도시유출모형 구축을 위한 소유역 및 관망 입력자료 DB를 GIS shape파일 형식으로 구축하였으며, 미국 EPA의 SWMM을 적용하여 도시유출모형을 구축하였다. 시간적, 인력적 제약을 극복하기 위하여 구축할 관망 기준을 수립 및 가공하여 적용하였으며, 매뉴얼을 작성하여 매개변수의 적용기준 및 DB구축절차를 표준화하여 입력자료의 일관성 및 객관성을 도모하였다. 구축한 모형의 신뢰성 확보를 위해 서울시 기왕 주요 호우사례에 대한 유출모의 결과와 유량측정 성과의 비교를 통해 모형 검증을 수행한 결과, 관측수위/모의수위의 상관계수는 대부분의 지역에서 0.9 이상으로 나타나 모형 구축결과는 적정한 것으로 판단되었다. 구축된 모형은 실시간으로 변화하는 기상상황을 합리적으로 반영하기 위한 고해상도 기상자료를 활용한 도시침수 예측정보 생산 기술 개발의 기반 자료로 활용될 예정이며, 서울시 전역의 우수관로 월류에 의한 침수 취약지역 파악 및 침수원인 분석, 상습 침수지역에 대한 하수관로 교체 및 저류지 설치 등 치수계획에 대한 기초자료로도 활용 될 수 있을 것이다.

• Journal of Korea Water Resources Association
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• v.39 no.6 s.167
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• pp.545-552
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• 2006

The purpose of this study is to develop an optimal, long-term planning model for improvement of water distribution networks. The water distribution system is divided into sub-zones and the decision of improvement plan is made for each sub-zone. Costs for replacement, rehabilitation and repair, benefits including reduced pumping and leakage costs, and hydraulic reliability are considered to make optimal decision for improvement planning of water network. Harmony search algorithm is applied to optimize the system and hydraulic analysis model EPANET is interfaced with the optimal decision model to check the hydraulic reliability, The developed model is applied to actual water distribution system in Daegu-city, South Korea. The new model which use durability, conveyance and cost as a decision variable is different from existing methods which use only burying period and pipe type and can be used as optimal decision making system for water distribution network.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.10 no.6
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• pp.1346-1352
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• 2009

Warranty cost of automobile parts varies depending on the parts failure rate in a warranty region of individual markets. Parts failure rate is significantly affected by usage-rate given that other stressors of individual markets are similar. Accordingly, warranty cost can be predicted by failure modeling which reflects usage-rate and using a stochastic process. In this paper, one-dimensional approach is used by applying accelerated failure time model on the assumption that the usage-rate is linear. Such model can explain changes in parts failure rate depending on the changes in usage-rate since it can be expressed as a function of usage-rate. Therefore, acquisition of usage-rate in a new market will automatically lead to estimate of failure rate even without warranty data and warranty cost of parts can be predicted through a renewal process in replacement cases. A case study using warranty data of two real markets is presented in the application part of this paper.