• Asia-Pacific Journal of Business
• /
• v.11 no.3
• /
• pp.243-260
• /
• 2020

Purpose - This paper aims to investigate the properties of crude oil based derivative security (DLS) focusing on step-down type for comprehensive understanding of its risk. Design/methodology/approach - Kernel estimation is conducted to figure out statistical feature of the process of oil price. We simulate oil price paths based on kernel estimation results and derive probabilities of hitting the barrier and early redemption. Findings - The amount of issuance for crude oil based DLS is relatively low when base prices are below $40 while it is high when base prices are around $60 or $100, which is not consistent with kernel estimation results showing that oil futures prices tend to revert toward $46.14 and the mean-reverting speed is faster as oil price is lower. The analysis based on simulated oil price paths reveals that probability of early redemption is below 50% for DLS with high base prices and the ratio of the probability of early redemption to the probability of hitting barrier is remarkably low compared to the case for DLS with low base prices, as the chance of early redemption is deferred. Research implications or Originality - Empirical results imply that the level of the base price is a crucial factor of the risk for DLS, thus introducing a time-varying knock-in barrier, which is similar to adjust the base price, merits consideration to enhance protection for DLS investors.

• Proceedings of the Korean Society for Technology of Plasticity Conference
• /
• 2007.10a
• /
• pp.281-284
• /
• 2007

The effect of Ca addition on the microstructure evolution and deformation behavior of AZ31 magnesium alloy produced by hot extrusion was investigated. For this purpose, Ca was added into AZ31 melts to the level of 0.7 and 2.0 wt.% Ca. Then, AZ31 base alloy and Ca modified AZ31 alloys were extruded at $383^{\circ}C$. Ca added alloys showed finer grain size and increased hardness value rather than AZ31 base alloy. After isothermal hot compression, the shape of tested specimen exhibited a noticeable anisotropy due to the crystallographic texture effect. The ratio of major and minor axes of ovality was not directly related to test condition and Ca amount. Flow stress level increases with the increase of Ca addition at temperature below $300^{\circ}C$ because of fine microstructure. However, at high temperature and low strain rate region ($400^{\circ}C$ and $10^{-3}s^{-1}$), reverse tendency was observed since main deformation mechanism changes from dislocation slip to grain boundary sliding or diffusional process at high temperature.

• Steel and Composite Structures
• /
• v.20 no.1
• /
• pp.107-125
• /
• 2016

Steel shear wall system has been used in recent years in tall buildings due to its appropriate behavior advantages such as stiffness, high strength, economic feasibility and high energy absorption capability. Coupled steel plate shear walls consist of two steel shear walls that are connected to each other by steel link beam at each floor level. In this article the frames of 3, 10, and 15 of (C-SPSW) floor with rigid connection were considered in three different lengths of 1.25, 2.5 and 3.75 meters and link beams with plastic section modulus of 100% to the panel beam at each floor level and analyzed using three pairs of accelerograms based on nonlinear dynamic analysis through ABAQUS software and then the performance of walls and link beams at base shear, drift, the period of structure, degree of coupling (DC) and dissipated energy evaluated. The results show that the (C-SPSW) system base shear increases with a decrease in the link beam length, and the drift, main period and dissipated energy of structure decreases. Also the link beam length has different effects on parameters of coupling degrees.

• Bulletin of the Korean Chemical Society
• /
• v.28 no.12
• /
• pp.2454-2458
• /
• 2007

Exploring the basic concepts for the design of CO2-philic molecules is important due to the possibility for “green” chemistry in supercritical CO2 as substitute solvent systems. The Lewis acid-base interactions and C?H…O weak hydrogen bonding were suggested as two key factors for the solubility of CO2-philic molecules. We have performed high level quantum mechanical calculations for the van der Waals complexes of CO2 with trimethylphosphate and trimethylphosphine oxide, which have long been used for metal extractants in supercritical CO2 fluid. Structures and energies were calculated using the MP2/6-31+G(d) and recently developed multilevel methods. These studies indicate that the Lewis acid-base interactions have larger impact on the stability of structure than the C?H…O weak hydrogen bonding. The weak hydrogen bonds in trimethylphosphine oxide have an important role to the large supercritical CO2 solubility when a metal is bound to the oxygen atom of the P=O group. Trimethylphosphate has many Lewis acid-base interaction sites so that it can be dissolved into supercritical CO2 easily even when it has metal ion on the oxygen atom of the P=O group, which is indispensable for a good extractant.

• The Journal of the Korea institute of electronic communication sciences
• /
• v.14 no.5
• /
• pp.825-836
• /
• 2019

The drone-type base station will be an optimal platform as a way of information sharing for efficient operation of the military force due to their high network flexibility. It is expected that the characteristics of the drone-type base station which would freely adjust the altitude can be used to offset the propagation attenuation characteristics of the millimeter-wave frequency band by securing the stable Line of Sight. In this paper, we proposed a framework for evaluation drone-type base station that can be utilized as a future military communication network by performing modeling for performance analysis that can reflect various factors.

• Journal of Microbiology
• /
• v.41 no.1
• /
• pp.16-21
• /
• 2003

We have collected eight high-level streptomycin-resistant strains of Pseudomonas marginalis and P. syringae pv. actinidiae which were isolated from kiwifruit orchards in Korea and Japan, The molecular mechanisms of resistance were investigated by the PCR, susceptibility tests, and nucleotide sequence analysis. Of the eight high-level streptomycin-resistant strains, four harbored strA-strB genes, which encode streptomycin-inactivating enzymes. While the three Korean strains of R marginalis did not have plasmid and carried the resistant genes in the chromosomes, the Japanese strain of P. syringae pv. actinidiae had a plasmid containing strA-strB genes. The myomycin susceptibility test demonstrated that the high-level resistance to streptomycin of the remaining four strains is associated with mutations in the rpsL gene. Nucleotide sequence analyses revealed that they contain a single base-pair mutation in codon 43 of their rpsL gene.

• Proceedings of the KIPE Conference
• /
• 1996.06a
• /
• pp.63-66
• /
• 1996

An micro model for the power insulated Gate Bipolar Transistor(IGBT) is developed. The model consistently described the IGBT steady-state current-voltage characteristics and switching transient current and voltage waveform for all loading conditions. The model is based on the equivalent circuit of a MOSFET with supplies the base current to a low-gain, high-level injection, bipolar transistor with its base virtual contact at the collector and of the base. Model results are compared with measured turn-on and turn-off waveform for different drive, load, and feedback circuits.

• Journal of Welding and Joining
• /
• v.19 no.6
• /
• pp.643-651
• /
• 2001

A new waveform control technique has been developed for suppressing the spatter generation in the repelled transfer mode of high current $CO_2$ welding. Based on the spatters in repelled transfer, a waveform concept of concept was established in a way to drop the welding current to lower level right before the pendant weld drop detatchment so that the explosion force associating with drop detatchment was decreased. There were several variables to be controlled such as the moment of current drop, the base current and the time of retention at the base current. Either at lower base current or at longer retention time, the more instantaneous shot circuits were int개duced and thus the spatter generation rates were increased. With optimizing the control variables, the amount of spatter generated was decreased by about 30%.

• Proceedings of the Korean Society for Noise and Vibration Engineering Conference
• /
• 2000.11a
• /
• pp.655-660
• /
• 2000

Machines on board a ship are mounted on decks and transmit its structure-borne sound to the deck through resilient mounts. To predict the ship noise generated by the structure-borne sound of the machine, It is necessary to estimate the vibration level of the base structure. In this paper, a simple dynamic model is considered for vibration isolation systems consisting of a source, an isolator, and a base structure. The high frequency mobilities of the simple base structure are reviewed and wave effects in the mount are discussed in relation to isolation performance.

• Journal of Families and Better Life
• /
• v.31 no.5
• /
• pp.201-210
• /
• 2013

The purpose of this study was to investigate the possibility of discriminating a high level of school adjustment in low-income school-aged children using interpersonal-related variables(mother attachment, peer attachment) and self-related variables(ego-resiliency, self-control). The subjects were 335 children in fourth, fifth and sixth grades in 4 elementary schools in Daegu. Mean(SD), t-test, and stepwise discriminant analysis were used for data analysis. Base on the results of the discriminant analysis, the discriminant functions suggested that the best predictor for distinguishing between a high level of school adjustment in low-income school-aged children and a low level of school adjustment was ego-resiliency. Self-control, mother attachment and peer attachment reliably separated the groups. And using ego-resiliency, self-control, mother attachment and peer attachment as predictors, the discriminant analysis correctly classified 92.3% of the participants.