• 제목/요약/키워드: Bond Yield

검색결과 197건 처리시간 0.023초

주식시장과 채권시장간의 정보 이전효과 (Information Flow Effect Between the Stock Market and Bond Market)

  • 최차순
    • 융합정보논문지
    • /
    • 제10권3호
    • /
    • pp.67-75
    • /
    • 2020
  • 본 연구에서는 주식시장과 채권시장간의 정보 이전효과(information flow effect)를 살펴보기 위해 우리나라 KOSPI의 일일지수와 초단기 채권형 펀드(money market fund : MMF) 수익률 자료를 이용하여 분석하였다. 전체 분석대상 기간은 1997년 5월 2일부터 2019년 8월 30일까지 이다. 1997년 5월 2일부터 2008년 12월 30일 글로벌금융위기전 기간, 2008년 12월 30일부터 2019년 8월 30일까지 글로벌금융위기 후 기간과 전체기간으로 세분하여 실증분석을 하였다. 분석결과 비대칭적 변동성을 고려한 EGARCH 모형이 적합한 것으로 나타났다. 주식시장과 채권시장 간에는 가격이전효과와 변동성 이전효과가 양방향으로 존재하는 것으로 나타났으며, 가격이전효과는 두 시장 간에 글로벌금융위기전 기간이 후보다 더 크게 나타났다. 주식시장과 채권시장간의 정보에 대한 비대칭적 변동성이 두 시장에 존재하는 것으로 나타났다.

BCB 수지로 본딩한 웨이퍼의 본딩 결합력에 관한 연구 (A Study on the Bond Strength of BCB-bonded Wafers)

  • 권용재;석종원
    • Korean Chemical Engineering Research
    • /
    • 제45권5호
    • /
    • pp.479-486
    • /
    • 2007
  • BCB 수지를 이용하여 본딩한 웨이퍼의 BCB 두께, 본딩 촉진제의 사용여부 및 이웃하는 적층 물질의 종류에 따른 본딩 결합력에 대한 영향을 4-점 굽힘방법을 이용하여 규명한다. 실험결과 본딩 결합력은 BCB 두께에 선형 비례하는데, 이는 BCB의 소성 변형의 정도가 두께에 비례하는 반면에 BCB의 항복 강도에는 영향을 미치지 않기 때문이다. 본딩한 BCB의 두께가 각각 $2.6{\mu}m$$0.4{\mu}m$인 경우에 대하여 본딩 촉진제를 사용 했을 때, 본딩 촉진제와 본딩된 물질의 표면에서는 공유 결합이 형성되기 때문에 본딩 결합력이 증가한다. 산화 규소막이 증착된 실리콘 웨이퍼와 BCB 사이 계면에서의 본딩 결합력은 글래스 웨이퍼와 BCB 사이의 계면에서 보다 약 3배 정도 높다. 이러한 본딩 결합력의 차이는 각 계면에서 Si-O 본드의 본딩 밀도 및 본드 파단 에너지의 차이에 기인한다. PECVD 산화 규소막을 증착한 실리콘 웨이퍼와 BCB 사이 계면의 경우, 기 측정된 $18J/m^2$$22J/m^2$의 본드 파단 에너지를 얻기 위해 각각 약 $12{\sim}13bonds/nm^2$$15{\sim}16bonds/nm^2$의 Si-O 본드 밀도가 필요하다. 반면에, 글래스 웨이퍼와 BCB 사이 계면의 경우에는 기 측정된 $5J/m^2$의 본드 파단 에너지를 얻기 위해 약 $7{\sim}8bonds/nm^2$의 Si-O 본드 밀도가 필요하다.

Nonlinear analysis of prestressed concrete structures considering slip behavior of tendons

  • Kwak, Hyo-Gyoung;Kim, Jae-Hong;Kim, Sun-Hoon
    • Computers and Concrete
    • /
    • 제3권1호
    • /
    • pp.43-64
    • /
    • 2006
  • A tendon model that can effectively be used in finite element analyses of prestressed concrete (PSC) structures with bonded tendons is proposed on the basis of the bond characteristics between a tendon and its surrounding concrete. Since tensile forces between adjacent cracks are transmitted from a tendon to concrete by bond forces, the constitutive law of a bonded tendon stiffened by grouting is different from that of a bare tendon. Accordingly, the apparent yield stress of an embedded tendon is determined from the bond-slip relationship. The definition of the multi-linear average stress-strain relationship is then obtained through a linear interpolation of the stress difference at the post-yielding stage. Unlike in the case of a bonded tendon, on the other hand, a stress increase beyond the effective prestress in an unbonded tendon is not section-dependent but member-dependent. The tendon stress unequivocally represents a uniform distribution along the length when the friction loss is excluded. Thus, using a strain reduction factor, the modified stress-strain curve of an unbonded tendon is derived by successive iterations. The validity of the proposed two tendon models is verified through correlation studies between analytical and experimental results for PSC beams and slabs.

Bond Ratings, Corporate Governance, and Cost of Debt: The Case of Korea

  • Han, Seung-Hun;Kang, Kichun;Shin, Yoon S.
    • The Journal of Asian Finance, Economics and Business
    • /
    • 제3권3호
    • /
    • pp.5-15
    • /
    • 2016
  • This study examines whether Korean rating agencies such as Korea Investors Service (KIS), National Information & Credit Evaluation (NICE), and Korea Ratings Corporation (KR), incorporate corporate governance into their corporate bond ratings in Korea. We find that the Korean rating agencies assign higher ratings to the bonds issued by Chaebol (Korean business group) affiliated firms. Our results also indicate that those rating agencies give higher ratings to the bonds with greater foreign investor share ownership. Moreover, if the rating agencies value corporate governance, higher rated firms should issue bonds at lower yield to maturity. We discover that Chaebol affiliation is counted favorably by the rating agencies. We find that investors are willing to pay lower risk premium for bonds with higher institutional ownership, but higher risk premium to bonds with greater equity ownership in the form of depository receipts. Therefore, even if the rating agencies and investors in Korea consider corporate governance (Chaebol affiliation and ownership structure) an important determinant in bond ratings and the yields to maturity, they have opposite views on institutional ownership and share ownership in the form of depository receipts.

철근부식상태에 따른 철근콘크리트 보의 슬립특성 (Slip Characteristics of Reinforced Concrete Beams to Corroded Steel State)

  • 권영웅;최봉섭;정용식
    • 콘크리트학회논문집
    • /
    • 제11권6호
    • /
    • pp.129-135
    • /
    • 1999
  • Reinforced concrete structures are constructed under the basic assumption of perfect bonding between steel and concrete. The corrosion of steel in the reinforced concrete beams results in the excessive cracks and gradual deterioration of concrete. This paper are concerned about the slip characteristics of reinforced concrete between steel and concrete. The accelerated test by external power supply was conducted with the three corrosion rates in the laboratory. As a result, it was obtained as follows: (1) the yield strength of steel was reduced according to corrosion states. (2) the equivalent steel area should be considered for detailed analysis. (3) According to the use of corroded steel or not, slip amounts between concrete and steel in test beams increased as the corrosion rate increased. These results can be explained from the bond loss between concrete and steel in test beams.

단부에 Interlocking Spiral을 가진 전단벽의 거동에 관한 연구 (Study for the Structural walls with Interlocking Spirals on the boundary)

  • 홍성걸;김록배;정하선;구광현
    • 한국콘크리트학회:학술대회논문집
    • /
    • 한국콘크리트학회 2001년도 봄 학술발표회 논문집
    • /
    • pp.865-870
    • /
    • 2001
  • This paper propose a new seismic detail for ductility enhancement by interlocking spiral reinforcement in the potential yield regions of a wall. Through the theoretical consideration and experiment program, confinement with interlocking spirals lead the structural walls to ductile behavior. All specimens show stable hysteretic behavior and good energy dissipation capacity. Also the increase of shear strength mainly induces a flexural failure mode. As interlocking spiral are used in lapped splice region, they increase the bond strength and prevent a early tensile failure caused by the loss of bond stresses. Consequently, the confinement with interlocking spirals may result in a lower value of force reductions factor, newly proposed detail will be provide more economical design.

  • PDF

Photochemical C$_4$-Cycloadduct Formation between 5(E)-Styryl-1,3-dimethyluracil and Some Olefins-Via Photochemical Diels-Alder Type [4 + 2] Adduct

  • Shim, Sang-Chul;Shin, Eun-Ju
    • Bulletin of the Korean Chemical Society
    • /
    • 제8권5호
    • /
    • pp.376-380
    • /
    • 1987
  • The cyclobutane forming photocycloaddition reaction of 5(E)-styryl-1,3-dimethyluracil with some olefins occurs on the 5,6-double bond of uracil ring rather than the expected central double bond via an intermediate, probably the photochemical Diels-Alder type adduct. This intermediate formed on short term irradiation of 5(E)-styryl-1,3-dimethyluracil and 2,3-dimethyl-2-butene solution is converted into the $C_4$-cycloadduct on the prolonged irradiation. Quantum yield of the intermediate formation is not linear with the concentration of 2,3-dimethyl-2-butene probably due to the secondary reaction accompanied with the complex reaction kinetics. The intermediate is formed from the lowest excited singlet state.

인산농도가 소의 법랑질에서 부식깊이와 브라켓 전단결합강도에 미치는 영향 (EFFECTS OF PHOSPHORIC ACID CONCENTRATION ON DEPTH OF ETCH AND SHEAR BOND STRENGTH OF ORTHODONTIC BRACKETS TO BOVINE ENAMEL)

  • 김수철;이기수
    • 대한치과교정학회지
    • /
    • 제25권3호
    • /
    • pp.341-353
    • /
    • 1995
  • 이 연구는 부식농도가 전단결합강도와 법랑질 표면의 부식깊이에 미치는 영향을 관찰하기 위하여 표면을 편평하게 연마한 소의 법랑질을 $0%,\;5%,\;10%,\;20%,\;30%,\;40%,\;50%,\;60%,\;70%,\;80%$$85\%$ 인산용액으로 60초간 부식시키고, 브라켓 접착의 전단결합강도와 법랑질 표면의 부식깊이와 조도를 측정하고, 주사전자현미경으로 부식면을 검경하였으며, 이상에서 얻은 자료를 통계처리하고 평가하여 다음과 같은 결론을 얻었다. 법랑질 표면의 부식깊이는 인산액의 농도가 $40\%$ 내지 $50\%$에 도달할 때까지 증가하다가 그 이후의 농도증가와 함께 점진적으로 감소하였다. 법랑질 표면의 부식깊이와 부식면의 조도 사이에 상관성이 없었으며, 부식면의 조도와 전단결합강도 사이에 중등도의 상관성($\gamma$=0.63)을 보였다. 인산액의 농도가 $5\%$에서 $40\%$에 도달할때까지 균질의 편평한 부식면을 나타내는 소견을 보였으나 $50\%$$60\%$에서 불균질의 과도한 그리고 편평하지 못한 부식면소견을 보였으며, $10\%$에서 $60\%$까지의 인산액에 의한 법랑질 부식 후 레진 접착제의 전단결합강도 사이에는 유의차가 얼었으며, $5\%$$70\%$의 인산액에 의한 것은 전자보다 작았으나 구강내에서 교정력에 견딜수 있는 전단결합강도를 나타낼 것으로 추정된다.

  • PDF

Al-Si 용융 도금된 보론강 CO2 레이저 용접부의 미세조직과 기계적 성질에 미치는 핫스탬핑 처리의 영향 (Effect of Hot-Stamping on Mechanical Properties and Microstructures of CO2 Laser Welded Boron Steel coated with Al-Si layer)

  • 오명환;공종판;신현정;권민석;정병훈;강정윤
    • 한국레이저가공학회지
    • /
    • 제16권3호
    • /
    • pp.1-10
    • /
    • 2013
  • In this study, Al-Si coated boron steel(1.2 mm) were laser welded by $CO_2$ laser and hot-stamping was applied to the laser joints. Tensile properties and microstructures of the joints were investigated before and after hot-stamping. Tensile and yield strengths of the as welded specimen similar with base metal and fracture occurred base metal of boron steel. Although, in case of heat treated specimen, fracture occurred fusion zone that Al segregated zone near the bond line. These could be explained by the existence of ferrite, in the Al segregated zone near the bond line and base metal of boron steel. Before hot-stamping, hardness of base metal is lower than fusion zone and heat affected zone in spite of exist Al segregation zone($Fe_3$(Al,Si)). So fracture occurred base metal. Although, after hot-stamping, microstructure of base metal and welds zone transformed to martensite and bainite except in Al segregation zone near the bond line that $Fe_3$(Al,Si) transformed to a-ferrite. So fracture occurred Al segregation zone near the bond line.

  • PDF

Die to Wafer Hybrid Bonding을 위한 Flexure 적용 Bond head 개발 (Development of Flexure Applied Bond head for Die to Wafer Hybrid Bonding)

  • 장우제;정용진;이학준
    • 반도체디스플레이기술학회지
    • /
    • 제20권4호
    • /
    • pp.171-176
    • /
    • 2021
  • Die-to-wafer (D2W) hybrid bonding in the multilayer semiconductor manufacturing process is one of wafer direct bonding, and various studies are being conducted around the world. A noteworthy point in the current die-to-wafer process is that a lot of voids occur on the bonding surface of the die during bonding. In this study, as a suggested method for removing voids generated during the D2W hybrid bonding process, a flexible mechanism for implementing convex for die bonding to be applied to the bond head is proposed. In addition, modeling of flexible mechanisms, analysis/design/control/evaluation of static/dynamics properties are performed. The proposed system was controlled by capacitive sensor (lion precision, CPL 290), piezo actuator (P-888,91), and dSpace. This flexure mechanism implemented a working range of 200 ㎛, resolution(3σ) of 7.276nm, Inposition(3σ) of 3.503nm, settling time(2%) of 500.133ms by applying a reverse bridge type mechanism and leaf spring guide, and at the same time realized a maximum step difference of 6 ㎛ between die edge and center. The results of this study are applied to the D2W hybrid bonding process and are expected to bring about an effect of increasing semiconductor yield through void removal. In addition, it is expected that it can be utilized as a system that meets the convex variable amount required for each device by adjusting the elongation amount of the piezo actuator coupled to the flexible mechanism in a precise unit.