• Journal of Korean Society of Industrial and Systems Engineering
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• v.40 no.4
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• pp.1-9
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• 2017

Companies must capture value for sustainable growth. Capturing value is a critical task for companies, particularly when operating own businesses and organizations or starting new business. The business strategy of many companies focuses on capturing the maximum value from customers and other stakeholders. Even though a wide range of studies on value creation and appropriation has been conducted in the strategic management field, most of studies are still conceptual and theoretical. Thus more empirical studies are required to suggest future-oriented value strategy. This study reveals the value creation and appropriation elements in the aviation industry of Korea. The purpose of this study is to understand the trend of value creation and appropriation in the industry. In addition, the relationship between the elements and firm's performance are tested. The firm's performance is defined by that past and future point of views. The sample were collected from Korean Air and Asiana Air. The empirical test shows that the elements of value creation-appropriation have significant impact on firm's performance. Further, the element of value appropriation to customer has a positive impact both on firm's past and future performance. Our results show that investors acknowledge a value-based strategy as a sign of stock valuation. The results of this test correspond with the earlier one, showing that maximizing customers value rather than shareholder value does deliver impressive returns. The finding suggest that companies need to change their strategy to efficiently manage performance. With the test results, we propose a value-based strategy to maximize firm's future financial and stock performance.

• International conference on construction engineering and project management
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• 2015.10a
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• pp.321-323
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• 2015

Monitoring crane motion in real time is the first step to identifying and mitigating crane-related hazards on construction sites. However, no accurate and reliable crane motion capturing technique is available to serve this purpose. The objective of this research is to explore a method for real-time crane motion capturing and investigate an approach for assisting hazard detection. To achieve this goal, this research employed various techniques including: 1) a sensor-based method that accurately, reliably, and comprehensively captures crane motions in real-time; 2) computationally efficient algorithms for fusing and processing sensing data (e.g., distance, angle, acceleration) from different types of sensors; 3) an approach that integrates crane motion data with known as-is environment data to detect hazards associated with lifting tasks; and 4) a strategy that effectively presents crane operator with crane motion information and warn them with potential hazards. A prototype system was developed and tested on a real crane in a field environment. The results show that the system is able to continuously and accurately monitor crane motion in real-time.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.10 no.2
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• pp.27-42
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• 2015

The aim of this research is to investigate the difference in the capturing opportunities for each type of venture companies in the industry undergoing competition of a dominant design and then figure out the reason why they can be successful. Existing studies on venture companies are focused on the way to enhance a firm's competencies by acquiring and combining its resources. However, it is important for startups which have a lack of resources and capabilities to capture the opportunity to survive by understanding a changing environment. This study is focused on opportunity capture and strategic response to a changing environment and attempts to select and observe startup companies which are able to capture the opportunity and enter the market in the industry undergoing dominant design competition. In order to find out its difference in different types of business, we select one case from hardware startups and the other from software startups. According to the result of this study, the hardware startup focuses on market extension by lowering their prices and the software startup strives to induce more users to participate by the universalization of enabling technology so as to extend and standardize their technology in the environment undergoing dominant design competition. This feature of environment leads the difference in the approach for successfully capturing opportunity and thus hardware firms need to recognize the opportunity with profit potential from relationship with a number of cooperative firms while software firms need to identify the opportunity for extension of enabling technology which can be used by many users.

• 한국전산유체공학회:학술대회논문집
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• 2011.05a
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• pp.311-317
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• 2011

The present paper deals with the continuous works of extending the multi-dimensional limiting process (MLP) for compressible flows, which has been quite successful in finite volume methods, into discontinuous Galerkin (DG) methods. From the series of the previous, it was observed that the MLP shows several superior characteristics, such as an efficient controlling of multi-dimensional oscillations and accurate capturing of both discontinuous and continuous flow features. Mathematically, fundamental mechanism of oscillation-control in multiple dimensions has been established by satisfaction of the maximum principle. The MLP limiting strategy is extended into DG framework, which takes advantage of higher-order reconstruction within compact stencil, to capture detailed flow structures very accurately. At the present, it is observed that the proposed approach yields outstanding performances in resolving non-compressive as well as compressive flaw features. In the presentation, further numerical analyses and results are going to be presented to validate that the newly developed DG-MLP methods provide quite desirable performances in controlling numerical oscillations as well as capturing key flow features.

• Journal of Korean Society for Quality Management
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• v.46 no.3
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• pp.551-568
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• 2018

Purpose: This study addressed the relationship between technological innovation activity and management efficiency of Korean automobile firms. We tested the hypothesis of non-liner relationship of innovation activity in relation to management efficiency. Methods: We discussed prior literature in the firm innovation strategy and management efficiency studies to provide better understanding of relationships between technological innovation activity and management efficiency. As a result, we developed develop and tested a model (Inverted-U shaped) capturing the non-linear impact of technological innovation activity. While we used R&D expenditure and patent registration data for measuring firms' innovation activity, management efficiency was evaluated by using DEA(Data Envelopment Analysis). Results: Main findings of our empirical analysis indicated that the relationships between technological innovation activity and management efficiency was inverted U shaped. This implied that the relationship between technological innovation and management efficiency is inverted U-shaped non-linear, with management efficiency increasing up to a point, beyond which higher levels of R&D and patent registration activities led to a decrease in management efficiency. Conclusion: This study empirically assessed the inconclusive findings of previous research in the area of effects of innovation activities in relation to firm performance. The paper also provided theoretical and practical implications for firms who explore efficient strategy to promote the management performance through technological innovation activities. Future research directions with the limitation of the study was discussed.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.4
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• pp.59-70
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• 2020

The purpose of this study is to construct the ACD model for the block trading volume duration. The ACD model based on the block trading volume duration is referred to as Volume ACD (VACD) in this study. By integrating with GARCH-type models, the VACD based GARCH type models, which include VACD-GARCH, VACD-IGARCH and VACD-FIGARCH models, are set up. This study selects Chunghwa Telecom (CHT) Inc., offering the America Depository Receipt (ADR) in NYSE, to investigate the block trading volume duration in Taiwanese equity market. The empirical results indicate that the long memory in volume duration series increases dependence at level of volatility clustering by VACD (2,1)-FIGARCH (3,d,1) model. Moreover, the VACD (2,1)-IGARCH (1,1) exhibits relatively better performance of prediction on capturing block trading volume duration. This volatility model is more appropriate in this study to portray the change of the CHT Inc. prices and provides more information about the volatility process for investment strategy, which can be a reference indicator of financial asset pricing, hedging strategy and risk management.

• Advances in aircraft and spacecraft science
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• v.7 no.5
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• pp.387-404
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• 2020

The numerical simulation of shock waves in supersonic flows is challenging because of several instabilities which can affect the solution. Among them, the carbuncle phenomenon can introduce nonphysical perturbations in captured shock waves. In the present work, a hybrid numerical flux is proposed for the evaluation of the convective fluxes that avoids carbuncle and keeps high-accuracy on shocks and boundary layers. In particular, the proposed flux is a combination between an upwind approximate Riemann problem solver and the Local Lax-Friedrichs scheme. A simple strategy to mix the two fluxes is proposed and tested in the framework of a discontinuous Galerkin discretisation. The approach is investigated on the subsonic flow in a channel, on the supersonic flow around a cylinder, on the supersonic flow on a flat plate and on the flow in a overexpanded rocket nozzle.

• Structural Engineering and Mechanics
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• v.62 no.5
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• pp.537-550
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• 2017

Structural sizing is a rewarding task due to its non-convex constrained nature in the design space. In order to provide both global exploration and proper search refinement, a hybrid method is developed here based on outstanding features of Evolutionary Computing and Teaching-Learning-Based Optimization. The new method introduces an observer phase for memory exploitation in addition to vector-sum movements in the original teacher and learner phases. Proper integer coding is suited and applied for structural size optimization together with a fly-to-boundary technique and an elitism strategy. Performance of the proposed method is further evaluated treating a number of truss examples compared with teaching-learning-based optimization. The results show enhanced capability of the method in efficient and stable convergence toward the optimum and effective capturing of high quality solutions in discrete structural sizing problems.

• International Journal of Aeronautical and Space Sciences
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• v.8 no.1
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• pp.66-78
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• 2007

A multi-point aerodynamic shape optimization technique has been developed for helicopter rotor blades in hover based on a continuous adjoint method on unstructured meshes. The Euler flow solver and the continuous adjoint sensitivity analysis were formulated on the rotating frame of reference. The 'objective function and the sensitivity were obtained as a weighted sum of the values at each design point. The blade section contour was modified by using the Hicks-Henne shape functions. The mesh movement due to the blade geometry change was achieved by using a spring analogy. In order to handle the repeated evaluation of the design cycle efficiently, the flow and adjoint solvers were parallelized based on a domain decomposition strategy. A solution-adaptive mesh refinement technique was adopted for the accurate capturing of the wake. Applications were made to the aerodynamic shape optimization of the Caradonna-Tung rotor blades and the UH-60 rotor blades in hover.

• 한국전산유체공학회:학술대회논문집
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• 2010.05a
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• pp.404-411
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• 2010

The present paper deals with the continuous work of extending multi-dimensional limiting process (MLP), which has been quite successfully proposed on two- and three-dimensional structured grids, onto the unstructured grids. The basic idea of the present limiting strategy is to control the distribution of both cell-centered and cell-vertex physical properties to mimic a multi-dimensional nature of flow physics, which can be formulated as so called the MLP condition. The MLP condition can guarantee a high-order spatial accuracy without yielding spurious oscillations. Recently, MLP slope limiter was proposed based on the MUSCL-type reconstruction in two-dimensional case and it can be readily extended to three-dimensional case. Through various numerical analyses and extensive computations, it is observed that the proposed limiters are quite effective in controlling numerical oscillations and very accurate in capturing both discontinuous and continuous multi-dimensional flow features on 3-D tetrahedral grids.