• The Korean Journal of Financial Management
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• v.24 no.1
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• pp.29-58
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• 2007

We develop a model to estimate the value of growth opportunities, which is based on the seminal papers of M&M(1961, 1963) and Lee(2006). Making use of the estimation model, we estimate a new proxy variable of the growth opportunities, other than the usual proxy variables such as quasi Tobin's Q, MBR, and so on. The new proxy variable of growth opportunities can represent a necessary condition to identify whether the increase in new investments are successful or not. The empirical findings on the growth opportunities during the IMF currency crisis period and the post-IMF period are as follows; First, the overall success rate of new investments is as low as 50%, that means only half of the listed firms were increasing new investments when they had the growth opportunities. Second, during the crisis, one third of the listed firms were experiencing negative growth opportunities. However, during the post-IMF period, the growth opportunities on new investments were turned to be positive due to the turnaround efforts of listed firms. Third, the value of intangible assets, which are resulting from the investment of R&D and human capital, are becoming more important than ever. It seems to be true that larger portions of the value of growth opportunities are coming from the intangible assets, not from the increases in new investments of the physical assets.

• Journal of Korean Society of Environmental Engineers
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• v.35 no.11
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• pp.795-802
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• 2013

According to the increase of impervious area due to the town development, the rate of infiltration generally lessens and that of runoff rises during wet weather events. And it is concerned that its impacts on water quality for the downstream water bodies due to the change of rainfall runoff patterns may also increase. To cope with these issues, LID (Low Impact Development) techniques which try to maintain the characteristics of rainfall runoff regardless of the town development have been introduced actively. However, the behaviors of each LID technique for rainfall runoff and pollutant loads is not understood sufficiently. In this study, considering the applications of some LID techniques, several sets of simulations using a distributed rainfall runoff model, SWMM-LID, have been conducted for D town whose development is progressing. As the results of the simulations, the rates of infiltration/storage have been decreased from 78% in the case before the town development to 15% after the development and increased again by 24% with LID techniques such as porous pavement, rain barrel and rain garden. The rates of runoff have been increased more than three times from 20% in the case before the development to 74% after the development, and they have also been decreased to 66% by the adoption of LID techniques. It has been simulated that porous pavement is more effective than others in the view point of the reduction of runoff and rain barrel is more attractive for the management of pollutant loads (TSS, BOD, COD, T-N and T-P). Therefore, if some LID techniques should be selected for the a new town, it could be concluded that some techniques with better infiltration functions are recommendable for the control of runoff, and ones with larger storage functions for the management of pollutant loads.

• Asia pacific journal of information systems
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• v.19 no.1
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• pp.113-145
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• 2009

Recently, due to the globalization of the IT(Information Technology) market, devices and systems designed in one country are used in other countries as well. This phenomenon is becoming the key factor for increased interest on cross-cultural, or cross-national, research within the IT area. However, as the IT market is becoming bigger and more globalized, a great number of IT practitioners are having difficulty in designing and developing devices or systems which can provide optimal experience. This is because not only tangible factors such as language and a country's economic or industrial power affect the user experience of a certain device or system but also invisible and intangible factors as well. Among such invisible and intangible factors, the cultural characteristics of users from different countries may affect the user experience of certain devices or systems because cultural characteristics affect how they understand and interpret the devices or systems. In other words, when users evaluate the quality of overall user experience, the cultural characteristics of each user act as a perceptual lens that leads the user to focus on a certain elements of experience. Therefore, there is a need within the IT field to consider cultural characteristics when designing or developing certain devices or systems and plan a strategy for localization. In such an environment, existing IS studies identify the culture with the country, emphasize the importance of culture in a national level perspective, and hypothesize that users within the same country have same cultural characteristics. Under such assumptions, these studies focus on the moderating effects of cultural characteristics on a national level within a certain theoretical framework. This has already been suggested by cross-cultural studies conducted by scholars such as Hofstede(1980) in providing numerical research results and measurement items for cultural characteristics and using such results or items as they increase the efficiency of studies. However, such national level culture has its limitations in forecasting and explaining individual-level behaviors such as voluntary device or system usage. This is because individual cultural characteristics are the outcome of not only the national culture but also the culture of a race, company, local area, family, and other groups that are formulated through interaction within the group. Therefore, national or nationally dominant cultural characteristics may have its limitations in forecasting and explaining the cultural characteristics of an individual. Moreover, past studies in psychology suggest a possibility that there exist different cultural characteristics within a single individual depending on the subject being measured or its context. For example, in relation to individual vs. collective characteristics, which is one of the major cultural characteristics, an individual may show collectivistic characteristics when he or she is with family or friends but show individualistic characteristics in his or her workplace. Therefore, this study acknowledged such limitations of past studies and conducted a research within the framework of 'theoretically integrated model of user satisfaction and emotional attachment', which was developed through a former study, on how the effects of different experience elements on emotional attachment or user satisfaction are differentiated depending on the individual cultural characteristics related to a system or device usage. In order to do this, this study hypothesized the moderating effects of four cultural dimensions (uncertainty avoidance, individualism vs, collectivism, masculinity vs. femininity, and power distance) as suggested by Hofstede(1980) within the theoretically integrated model of emotional attachment and user satisfaction. Statistical tests were then implemented on these moderating effects through conducting surveys with users of four digital devices (mobile phone, MP3 player, LCD TV, and refrigerator) in three countries (US, Germany, and Russia). In order to explain and forecast the behavior of personal device or system users, individual cultural characteristics must be measured, and depending on the target device or system, measurements must be measured independently. Through this suggestion, this study hopes to provide new and useful perspectives for future IS research.

• Economic and Environmental Geology
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• v.48 no.1
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• pp.25-39
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• 2015

$CO_2$ geological storage plays an important role in reduction of greenhouse gas emissions, but there is a lack of research for CCS demonstration. To achieve the goal of CCS, storing $CO_2$ safely and permanently in underground geological formations, it is essential to understand the characteristics of them, such as total storage capacity, stability, etc. and establish an injection strategy. We perform the impedance inversion for the seismic data acquired from the Ulleung Basin in 2012. To review the possibility of $CO_2$ storage, we also construct porosity models and extract attributes of the prospects from the seismic data. To improve the quality of seismic data, amplitude preserved processing methods, SWD(Shallow Water Demultiple), SRME(Surface Related Multiple Elimination) and Radon Demultiple, are applied. Three well log data are also analysed, and the log correlations of each well are 0.648, 0.574 and 0.342, respectively. All wells are used in building the low-frequency model to generate more robust initial model. Simultaneous pre-stack inversion is performed on all of the 2D profiles and inverted P-impedance, S-impedance and Vp/Vs ratio are generated from the inversion process. With the porosity profiles generated from the seismic inversion process, the porous and non-porous zones can be identified for the purpose of the $CO_2$ sequestration initiative. More detailed characterization of the geological storage and the simulation of $CO_2$ migration might be an essential for the CCS demonstration.

• Asia pacific journal of information systems
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• v.19 no.2
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• pp.157-178
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• 2009

Corporate credit rating is a very important factor in the market for corporate debt. Information concerning corporate operations is often disseminated to market participants through the changes in credit ratings that are published by professional rating agencies, such as Standard and Poor's (S&P) and Moody's Investor Service. Since these agencies generally require a large fee for the service, and the periodically provided ratings sometimes do not reflect the default risk of the company at the time, it may be advantageous for bond-market participants to be able to classify credit ratings before the agencies actually publish them. As a result, it is very important for companies (especially, financial companies) to develop a proper model of credit rating. From a technical perspective, the credit rating constitutes a typical, multiclass, classification problem because rating agencies generally have ten or more categories of ratings. For example, S&P's ratings range from AAA for the highest-quality bonds to D for the lowest-quality bonds. The professional rating agencies emphasize the importance of analysts' subjective judgments in the determination of credit ratings. However, in practice, a mathematical model that uses the financial variables of companies plays an important role in determining credit ratings, since it is convenient to apply and cost efficient. These financial variables include the ratios that represent a company's leverage status, liquidity status, and profitability status. Several statistical and artificial intelligence (AI) techniques have been applied as tools for predicting credit ratings. Among them, artificial neural networks are most prevalent in the area of finance because of their broad applicability to many business problems and their preeminent ability to adapt. However, artificial neural networks also have many defects, including the difficulty in determining the values of the control parameters and the number of processing elements in the layer as well as the risk of over-fitting. Of late, because of their robustness and high accuracy, support vector machines (SVMs) have become popular as a solution for problems with generating accurate prediction. An SVM's solution may be globally optimal because SVMs seek to minimize structural risk. On the other hand, artificial neural network models may tend to find locally optimal solutions because they seek to minimize empirical risk. In addition, no parameters need to be tuned in SVMs, barring the upper bound for non-separable cases in linear SVMs. Since SVMs were originally devised for binary classification, however they are not intrinsically geared for multiclass classifications as in credit ratings. Thus, researchers have tried to extend the original SVM to multiclass classification. Hitherto, a variety of techniques to extend standard SVMs to multiclass SVMs (MSVMs) has been proposed in the literature Only a few types of MSVM are, however, tested using prior studies that apply MSVMs to credit ratings studies. In this study, we examined six different techniques of MSVMs: (1) One-Against-One, (2) One-Against-AIL (3) DAGSVM, (4) ECOC, (5) Method of Weston and Watkins, and (6) Method of Crammer and Singer. In addition, we examined the prediction accuracy of some modified version of conventional MSVM techniques. To find the most appropriate technique of MSVMs for corporate bond rating, we applied all the techniques of MSVMs to a real-world case of credit rating in Korea. The best application is in corporate bond rating, which is the most frequently studied area of credit rating for specific debt issues or other financial obligations. For our study the research data were collected from National Information and Credit Evaluation, Inc., a major bond-rating company in Korea. The data set is comprised of the bond-ratings for the year 2002 and various financial variables for 1,295 companies from the manufacturing industry in Korea. We compared the results of these techniques with one another, and with those of traditional methods for credit ratings, such as multiple discriminant analysis (MDA), multinomial logistic regression (MLOGIT), and artificial neural networks (ANNs). As a result, we found that DAGSVM with an ordered list was the best approach for the prediction of bond rating. In addition, we found that the modified version of ECOC approach can yield higher prediction accuracy for the cases showing clear patterns.

• Journal of Biomedical Engineering Research
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• v.25 no.5
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• pp.421-430
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• 2004

Clinically, it is almost impossible for a physician to distinguish subtle changes of frequency spectrum by using a stethoscope alone especially in the early stage of thrombus formation. Considering that reliability of mechanical valve is paramount because the failure might end up with patient death, early detection of valve thrombus using noninvasive technique is important. Thus the study was designed to provide a tool for early noninvasive detection of valve thrombus by observing shift of frequency spectrum of acoustic signals with computer aid diagnosis system. A thrombus model was constructed on commercialized mechanical valves using polyurethane or silicon. Polyurethane coating was made on the valve surface, and silicon coating on the sewing ring of the valve. To simulate pannus formation, which is fibrous tissue overgrowth obstructing the valve orifice, the degree of silicone coating on the sewing ring varied from 20％, 40％, 60％ of orifice obstruction. In experiment system, acoustic signals from the valve were measured using microphone and amplifier. The microphone was attached to a coupler to remove environmental noise. Acoustic signals were sampled by an AID converter, frequency spectrum was obtained by the algorithm of spectral analysis. To quantitatively distinguish the frequency peak of the normal valve from that of the thrombosed valves, analysis using a neural network was employed. A return map was applied to evaluate continuous monitoring of valve motion cycle. The in-vivo data also obtained from animals with mechanical valves in circulatory devices as well as patients with mechanical valve replacement for 1 year or longer before. Each spectrum wave showed a primary and secondary peak. The secondary peak showed changes according to the thrombus model. In the mock as well as the animal study, both spectral analysis and 3-layer neural network could differentiate the normal valves from thrombosed valves. In the human study, one of 10 patients showed shift of frequency spectrum, however the presence of valve thrombus was yet to be determined. Conclusively, acoustic signal measurement can be of suggestive as a noninvasive diagnostic tool in early detection of mechanical valve thrombosis.

• Korean journal of communication and information
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• v.44
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• pp.76-107
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• 2008

The present study has explored the effects of media use on the evaluation of the presidential candidate's morality. We hypothesized that the perception of the candidates' morality during the 2007 Korean President Election would be influenced by the amount of the different types of media use. Using a set of panel data, a total of 1,199 citizens (584 females (48.7%), 615 males (51.3%), Mage=42.77, SDage=13.34) were assessed four times from August to December in 2007. The results indicated that (a) the level of TV use for political information, the level of newspaper use for political information, and the level of Internet use for political information increased during the five months; (b) the initial level of political involvement contributed differently to the initial levels of media use; (c) the initial level of political involvement negative influenced the initial level of TV use for political information; (d) the growth of political involvement positively influenced the growth of TV use for political information; (e) the intial level of TV use for political information increased both the initial levels of the perception of candidates' morality and the change of the perception of candidates' morality; (f) the change of TV use for political information negatively affected the perception of candidates' morality; and (g) the initial level of Internet use for political information negatively affected the initial level of the perception of candidates' morality, and the change of Internet use for political information negatively affected the perception of candidates' morality.

• Journal of the Institute of Electronics Engineers of Korea CI
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• v.44 no.2 s.314
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• pp.37-46
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• 2007

In this paper, we propose technologies for enhancing the immersive realization of virtual objects in AR-based product design. Generally, multimodal senses such as visual/auditory/tactile feedback are well known as a method for enhancing the immersion in case of interaction with virtual objects. By adapting tangible objects we can provide touch sensation to users. A 3D model of the same scale overlays the whole area of the tangible object so the marker area is invisible. This contributes to enhancing immersion. Also, the hand occlusion problem when the virtual objects overlay the user's hands is partially solved, providing more immersive and natural images to users. Finally, multimodal feedback also creates better immersion. In our work, both vibrotactile feedback through page motors, pneumatic tactile feedback, and sound feedback are considered. In our scenario, a game-phone model is selected, by way of proposed augmented vibrotactile feedback, hands occlusion-reduced visual effects and sound feedback are provided to users. These proposed methodologies will contribute to a better immersive realization of the conventional AR system.

• Interdisciplinary Bio Central
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• v.1 no.1
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• pp.3.1-3.6
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• 2009

Introduction: GTPases known as translation factor play a vital role as ribosomal subunit assembly chaperone. The bacterial Obg proteins ($Spo{\underline{0B}}$-associated ${\underline{G}}TP$-binding protein) belong to the subfamily of P-loop GTPase proteins and now it is considered as one of the new target for antibacterial drug. The majority of bacterial Obgs have been commonly found to be associated with ribosome, implying that these proteins may play a fundamental role in ribosome assembly or maturation. In addition, one of the experimental evidences suggested that Bacillus subtilis Obg (BsObg) protein binds to the L13 ribosomal protein (BsL13) which is known to be one of the early assembly proteins of the 50S ribosomal subunit in Escherichia coli. In order to investigate binding mode between the BsObg and the BsL13, protein-protein docking simulation was carried out after generating 3D structure of the BsL13 structure using homology modeling method. Materials and Methods: Homology model structure of BsL13 was generated using the EcL13 crystal structure as a template. Protein-protein docking of BsObg protein with ribosomal protein BsL13 was performed by DOT, a macro-molecular docking software, in order to predict a reasonable binding mode. The solvated energy minimization calculation of the docked conformation was carried out to refine the structure. Results and Discussion: The possible binding conformation of BsL13 along with activated Obg fold in BsObg was predicted by computational docking study. The final structure is obtained from the solvated energy minimization. From the analysis, three important H-bond interactions between the Obg fold and the L13 were detected: Obg:Tyr27-L13:Glu32, Obg:Asn76-L13:Glu139, and Obg:Ala136-L13:Glu142. The interaction between the BsObg and BsL13 structures were also analyzed by electrostatic potential calculations to examine the interface surfaces. From the results, the key residues for hydrogen bonding and hydrophobic interaction between the two proteins were predicted. Conclusion and Prospects: In this study, we have focused on the binding mode of the BsObg protein with the ribosomal BsL13 protein. The interaction between the activated Obg and target protein was investigated with protein-protein docking calculations. The binding pattern can be further used as a base for structure-based drug design to find a novel antibacterial drug.

• Korean Journal of Food Science and Technology
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• v.35 no.5
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• pp.818-824
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• 2003

Capillary electrophoresis (CE) and near-infrared spectroscopy (NIRS) were performed to discriminate astragalus roots (Astragalus membranaceus) according to geographical origin (domestic or foreign). Two-hundred-and-four astragalus roots were extracted with 30% methanol in 0.1 M phosphate buffer (pH 2.5) and separated in a uncoated fused-silica $(50\;{\mu}m{\times}27\;cm)$ capillary. Conditions for optimal analysis included: temperature $-45^{\circ}C$, voltage -14 kV, and pressure injection time -8 sec. The optimal separation buffer was 0.1 M phosphate buffer (pH 2.5) containing 40 mM hexane sulfonic acid with 20% 2-methoxy ethanol. Raw NIR spectra were obtained using NIRS, and modified partial least square regression was used to develop the prediction model. The correlation coefficient and standard error of prediction were 0.915 and 14.3%, respectively. Under the optimal conditions established for CE and NIRS, the geographical origins of the astragalus roots were correctly identified in 80 and 97%, respectively. Astragalus roots that were not discriminated by NIRS were correctly discriminated by CE. Hence, CE and NIRS are potential methods for discriminating the geographical origins of astragalus roots that complement one another.