• Journal of the Korean Society for Industrial and Applied Mathematics
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• v.19 no.1
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• pp.23-45
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• 2015

We consider counterparty risk in CDS rates. To do so, we use a multivariate jump diffusion process for obligors' default intensity, where jumps (i.e. magnitude of contribution of primary events to default intensities) occur simultaneously and their sizes are dependent. For these simultaneous jumps and their sizes, a homogeneous Poisson process. We apply copula-dependent default intensities of multivariate Cox process to derive the joint Laplace transform that provides us with joint survival/default probability and other relevant joint probabilities. For that purpose, the piecewise deterministic Markov process (PDMP) theory developed in [7] and the martingale methodology in [6] are used. We compute survival/default probability using three copulas, which are Farlie-Gumbel-Morgenstern (FGM), Gaussian and Student-t copulas, with exponential marginal distributions. We then apply the results to calculate CDS rates assuming deterministic rate of interest and recovery rate. We also conduct sensitivity analysis for the CDS rates by changing the relevant parameters and provide their figures.

• Journal of Photoscience
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• v.11 no.32
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• pp.65-69
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• 2004

The mechanism of interaction of four coumarin derivatives (CDS) with bovine serum albumin (BSA) was studied using spectrofluorometric technique. It was found that the coumarin ring common to all CDS makes major contribution to interaction. Binding affinities could be related to parachor values of CDS. Stem-Volmer plots indicated the presence of static component in the quenching mechanism. Results also showed that both tryptophan residues of protein are accessible to CDS. The high magnitude of rate constant of quenching indicated that the process of energy transfer occurs by intermolecular interaction forces and thus CDS binding site is in close proximity to tryptophan residues of BSA. Binding studies in the presence of the hydrophobic probe, 8-anilino-l-naphthalein-sulfonic acid showed that there is hydrophobic interaction between CDS and the probe and they do not share common sites in BSA. Thermodynamic parameters obtained from data at different temperatures showed that the binding of CDS to BSA involve hydrophobic bonds predominantly. The effects of various metal ions on the binding of CDS with BSA were also investigated.

• JSTS:Journal of Semiconductor Technology and Science
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• v.12 no.4
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• pp.388-396
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• 2012

In this paper, a $320{\times}240$ pixel, 80 frame/s CMOS image sensor with a low power dual correlated double sampling (CDS) scheme is presented. A novel 8-bit hold-and-go counter in each column is proposed to obtain 10-bit resolution. Furthermore, dual CDS and a configurable counter scheme are also discussed to realize efficient power reduction. With these techniques, the digital counter consumes at least 43% and at most 61% less power compared with the column-counters type, and the frame rate is approximately 40% faster than the double memory type due to a partial pipeline structure without additional memories. The prototype sensor was fabricated in a Samsung $0.13{\mu}m$ 1P4M CMOS process and used a 4T APS with a pixel pitch of $2.25{\mu}m$. The measured column fixed pattern noise (FPN) is 0.10 LSB.

• East Asian Economic Review
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• v.19 no.3
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• pp.275-322
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• 2015

The key objective of this study is to investigate the return and volatility spillover effects among stock market, credit default swap (CDS) market and foreign exchange market for three countries: Korea, the US and Japan. Using the trivariate VAR BEKK GARCH (1,1) model, the study finds that there are significant return and volatility spillover effects between the Korean CDS market and the Korean stock market. In addition, the return spillover effects from foreign exchange markets and the US stock market to the Korean stock market, and the volatility spillover effect from the Japanese stock market to the Korean stock market are both significant.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.12 no.10
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• pp.4359-4368
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• 2011

Among several macroeconomic missteps blamed for the recent global financial crisis including the social problems of income distribution and the lack of proper financial remedies, two of them have received particular attention: the global BOP(Balance of Payment) imbalance and the misguided monetary policy. Such BOP imbalance was blamed for massive foreign exchange investment flows from Asia into the U.S., triggering the financial and real estate bubble in America. The latter refers to the excessively loose monetary policy of the U.S. Federal Reserve, which pushed financial institutions and households into reckless investment behavior in search of higher returns. Given the abuse of certain innovative financial techniques and new investment instruments that have been created in recent decades, both collateralized debt obligations (CDOs) and credit default swaps (CDS) enjoyed a symbiotic and toxic relationship prior to the financial crisis This paper is organized as follows: The first section analyzes the real causes of the recent financial crisis. The second details the role of CDOs and CDS. Then, to identify key determinants of the CDS spreads in an emerging capital market, the sample data of major Korean firms' CDS spreads are used to estimate the risk premium by utilizing the multiple regression analysis. The empirical test result indicates that Korean 3-year treasury bond rate(TYIELD), market to book value ratio(MV/BV), and assets size(INASSETS) are shown to demonstrate statistically significant influences on the changes of the CDS premium for sample firms.

• Journal of Pharmaceutical Investigation
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• v.28 no.4
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• pp.257-266
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• 1998

To improve the solubility and dissolution rate of acyclovir (ACV), which is low oral bioavailability due to its properties of slight solubility in water and incomplete gastrointestinal absorption, the solid inclusion complexes of ACV with ${\alpha}CD$, ${\beta}CD$, $DM{\beta}CD$ in molar ratio of 1:1 were prepared by the freeze-drying method. The inclusion complexes were investigated by solubility study, UV, IR and DSC. The dissolution rate of ACV was significantly increased by ACV-CDs inclusion complex formation in artificial intestinal fluid at pH 6.8. The enhanced dissolution rate of ACV could be due to an increase of solubility and the formation of an amorphous structures through inclusion complexation with CDs. Especially, $ACV-DM{\beta}CD$ inclusion complex enhanced the maximum plasma concentration levels and AUC following oral administration compared to those of ACV alone. The present results suggest that $ACV-DM{\beta}CD$ inclusion complex serves as a potential carrier for improving the solubility, the dissolution rate and the bioavailability of ACV.

• Journal of the Korea Institute of Military Science and Technology
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• v.10 no.2
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• pp.152-159
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• 2007

This paper describes the design, fabrication, and measurement of ROIC(ReadOut Integrated Circuit) for $320{\times}256$ IRFPA(InfraRed Focal Plane Array). A ROIC plays an important role that transfer photocurrent generated in a detector device to thermal image system. Recently, the high performance and low power ROIC adding various functions is being required. According to this requirement, the design of ROIC focuses on 7MHz or more pixel rate, low power dissipation, anti-blooming, multi-channel output mode, image reversal, various windowing, and frame CDS(Correlated Double Sampling). The designed ROIC was fabricated using $0.6{\mu}m$ double-poly triple-metal Si CMOS process. ROIC function factors work normally, and the power dissipation of ROIC is 33mW and 90.5mW at 7.5MHz pixel rate in the 1-channel and 4-channel operation, respectively.

• Journal of Pharmaceutical Investigation
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• v.24 no.2
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• pp.85-94
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• 1994

Inclusion complexes of ketoconazole (KT) with ${\alpha}-$, ${\beta}-cyclodextrin$ (CD) and dimethyl-${\beta}-cyclodextrin$ $(DM{\beta}CD)$ in a molar ratio of 1:2 were prepared by freeze-drying and solvent evaporation methods. The interactions of KT with ${\alpha}-CD$, ${\beta}-CD$ and $DM{\beta}CD$ in aqueous solution and in solid state were investigated by solubility study, infrared (lR) spectroscopy and differential scanning calorimetry (DSC). The stability constant of $KT-DM{\beta}CD$ inclusion complex (lC) was found to be the largest among three inclusion complexes. Clear differences in IR spectra and DSC curves were observed between inclusion complexes and physical mixtures (PM) of KT-CDs. It was also shown by IR spectra and DSC curves that solvent evaporation method might be. superior to the freeze-drying method in preparing the inclusion complexes of KT-CDs. The dissolution rate of KT was markedly increased by inclusion complex formation with CDs in the buffer solution at pH 4.0 and pH 6.8. The mean dissolution time (MDT,min), which represents the rapidity of dissolution, was in the order of $KT-DM{\beta}CD$ IC (3.20) < $KT-{\beta}-CD$ IC (4.36) < $KT-{\alpha}-CD$ IC (6.99) < $KT-{\alpha}-CD$ PM (17.46)< $KT-{\beta}-CD$ PM (19.36) < $KT-{\beta}-CD$ PM (28.53). The dissolution rates of KT-CD ICsprepared by solvent evaporation method were faster than those of KT-CD ICs prepared by freeze-drying method.

• Korean Journal of Food Science and Technology
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• v.26 no.1
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• pp.6-11
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• 1994

A cyclodextrin glucanotransferase(CGTase)-producing Bacillus sp. I-5 was isolated from soil and the enzyme exhibited the maximum reaction rate at pH 8.0 and $50^{\circ}C$. It was found that CGTase of I-5 produced ${\beta}-$ and ${\gamma}-CD$ mainly but the production ratio of cyclodextrins (CDs) was influenced by the buffer solution. Sodium acetate significantly stimulated the formation of ${\gamma}-CD$, increasing the content by 35%. The production of CDs was influenced by DE value of starch. The results indicated that DE value in the range of $3.5{\sim}6.0$ were most effective for the CD formation. CGTase was immobilized on the reversibly soluble-insoluble carrier, hydroxypropyl mothylcellulose acetate succinate. The immobilized CGTase was soluble at pH 7.5, and precipitated easily at pH 6.0. Enzyme reactor was designed to produce CD continuously. It was composed of three major stages-CD produttion by immobilized CGTase, conversion of the residual dextrin to glucose by amylase and glucoamylase and alcohol fermentation by yeasts to remove the glucose into alcohol. The yield of total CDs was 3.65g from 10g soluble starch.

• Journal of the Institute of Electronics and Information Engineers
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• v.50 no.11
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• pp.64-69
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• 2013

In this paper, a high-speed CMOS Image Sensor (CIS) based on a 10-bit two-step single-slope A/D converter is proposed. The A/D converter is composed of both a 5-bit coarse ADC and a 6-bit fine ADC, and the conversion speed is 10 times faster than that of the single-slope A/D converter. In order to have a small noise characteristics, further, a Digital Correlated Double Sampling(D-CDS) is also discussed. The proposed A/D converter has been fabricated with 0.13um 1-poly 4-metal CIS process, and it has a QVGA($320{\times}240$) resolution. The fabricated chip size is $5mm{\times}3mm$, and the power consumption is about 35mW at 3.3V supply voltage. The measured conversion speed is 10us, and the frame rate is 220 frames/s.