• Journal of Korea Trade
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• 제24권5호
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• pp.35-54
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• 2020

Purpose - It seems common sense that corporate social responsibility (CSR) is a key driver of business sustainability. Nevertheless, there has been little research on the performance of socially responsible activities, including economic and environmentally responsibility activities, in internationally diversified firms. Design/methodology - The purpose of this study was to evaluate the effects of CSR activities on management performance. For this evaluation, an empirical analysis was conducted with total of 2,520 cases, selected from companies listed on the Korea Composite Stock Price Index market for six years from 2013 to 2018. As proxies for management performance, financial data such as a total asset net profit ratio and a total asset operating ratio were used. A multivariate regression analysis was conducted to test hypotheses. Findings - The results of this analysis indicated that firms in the CSR outstanding group were ranked significantly higher than other groups in management performance. In addition, CSR activities of internationally diversified firms positively influenced the total asset net profit ratio and total asset operating ratio. Originality/value - The results suggest that the CSR activities of these firms can play a significant role in enhancing management performance in the economic status of Korea, where the degree of export dependency is high.

• Steel and Composite Structures
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• 제30권6호
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• pp.603-615
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• 2019

In the present work, free vibration of beams made of imperfect functionally graded materials (FGMs) including porosities is investigated. Because of faults during process of manufacture, micro voids or porosities may arise in the FGMs, and this situation causes imperfection in the structure. Therefore, material properties of the beams are assumed to vary continuously through the thickness direction according to the volume fraction of constituents described with the modified rule of mixture including porosity volume fraction which covers two types of porosity distribution over the cross section, i.e., even and uneven distributions. The governing equations of power law FGM (P-FGM) and sigmoid law FGM (S-FGM) beams are derived within the frame works of classical beam theory (CBT) and first order shear deformation beam theory (FSDBT). The resulting equations are solved using separation of variables technique and assuming FG beams are simply supported at both ends. To validate the results numerous comparisons are carried out with available results of open literature. The effects of types of volume fraction function, beam theory and porosity volume fraction, as well as the variations of volume fraction index, span to depth ratio and porosity volume fraction, on the first three non-dimensional frequencies are examined in detail.

• Steel and Composite Structures
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• 제32권3호
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• pp.389-410
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• 2019

In this article, a simple quasi-3D shear deformation theory is employed for thermo-mechanical bending analysis of functionally graded material (FGM) sandwich plates. The displacement field is defined using only 5 variables as the first order shear deformation theory (FSDT). Unlike the other high order shear deformation theories (HSDTs), the present formulation considers a new kinematic which includes undetermined integral variables. The governing equations are determined based on the principle of virtual work and then they are solved via Navier method. Analytical solutions are proposed to provide the deflections and stresses of simply supported FGM sandwich structures. Comparative examples are presented to demonstrate the accuracy of the present theory. The effects of gradient index, geometrical parameters and thermal load on thermo-mechanical bending response of the FG sandwich plates are examined.

• International journal of advanced smart convergence
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• 제8권2호
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• pp.132-139
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• 2019

We address the problem about forecasting the direction of stock price movement in the Korea market. Recently, the deep neural network is popularly applied in this area of research. In deep neural network systems, proper parameter initialization reduces training time and improves the performance of the model. Therefore, in our study, we propose a novel parameter initialization technique and apply this technique for the stock price movement prediction model. Specifically, we design a framework which consists of two models: a base model and a main prediction model. The base model constructed with LSTM is trained by using the large data which is generated by a large amount of the stock data to achieve optimal parameters. The main prediction model with the same architecture as the base model uses the optimal parameter initialization. Thus, the main prediction model is trained by only using the data of the given stock. Moreover, the stock price movements can be affected by other related information in the stock market. For this reason, we conducted our research with two types of inputs. The first type is the stock features, and the second type is a combination of the stock features and the Korea Composite Stock Price Index (KOSPI) features. Empirical results conducted on the top five stocks in the KOSPI list in terms of market capitalization indicate that our approaches achieve better predictive accuracy and F1-score comparing to other baseline models.

• Steel and Composite Structures
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• 제32권2호
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• pp.225-237
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• 2019

In this research, the dynamic stability and nonlinear vibration behavior of a smart rotating sandwich cylindrical shell is studied. The core of the structure is a functionally graded material (FGM) which is integrated by functionally graded piezoelectric material (FGPM) layers subjected to electric field. The piezoelectric layers at the inner and outer surfaces used as actuator and sensor, respectively. By applying the energy method and Hamilton's principle, the governing equations of sandwich cylindrical shell derived based on first-order shear deformation theory (FSDT). The Galerkin method is used to discriminate the motion equations and the equations are converted to the form of the ordinary differential equations in terms of time. The perturbation method is employed to find the relation between nonlinear frequency and the amplitude of vibration. The main objective of this research is to determine the nonlinear frequencies and nonlinear vibration control by using sensor and actuator layers. The effects of geometrical parameters, power law index of core, sensor and actuator layers, angular velocity and scale transformation parameter on nonlinear frequency-amplitude response diagram and dynamic stability of sandwich cylindrical shell are investigated. The results of this research can be used to design and vibration control of rotating systems in various industries such as aircraft, biomechanics and automobile manufacturing.

• Steel and Composite Structures
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• 제31권5호
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• pp.469-488
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• 2019

We in this paper study nonlinear bending of a functionally graded porous nanobeam subjected to multiple physical load based on the nonlocal strain gradient theory. For more reasonable analysis of nanobeams made of porous functionally graded magneto-thermo-electro-elastic materials (PFGMTEEMs), both constituent materials and the porosity appear gradient distribution in the present expression of effective material properties, which is much more suitable to the actual compared with the conventional expression of effective material properties. Besides the displacement function regarding physical neutral surface is introduced to analyze mechanical behaviors of beams made of FGMs. Then we derive nonlinear governing equations of PFGMTEEMs beams using the principle of Hamilton. To obtain analytical solutions, a two-step perturbation method is developed in nonuniform electric field and magnetic field, and then we use it to solve nonlinear equations. Finally, the analytical solutions are utilized to perform a parametric analysis, where the effect of various physical parameters on static bending deformation of nanobeams are studied in detail, such as the nonlocal parameter, strain gradient parameter, the ratio of nonlocal parameter to strain gradient parameter, porosity volume fraction, material volume fraction index, temperature, initial magnetic potentials and external electric potentials.

• Advances in concrete construction
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• 제7권2호
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• pp.97-105
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• 2019

In this paper, the workability and static stability were evaluated using a proposed test method. Workability and static stability represent a key property of self-compacting concrete (SCC) in fresh state. A number of standardized test methods were developed to assess these properties. However, no accelerated test method reliably predicts both workability and static stability of SCC. In the present work, a modified K-slump test method was developed to evaluate workability and static stability of SCC. In order to take implicit mixture variations of SCC constituents that can affect fresh SCC properties, a central composite design was adopted to highlight the effect of gravel to sand ratio (G/S), gravel 3/8 to gravel 8/15 ratio (G1/G2), water to cement ratio (W/C), marble powder to cement ratio (MP/C) and superplasticizer content (SP) on workability measured with slump and flow time (T50) tests and static stability measured with sieve stability test (Pi), segregation test index (SSI), Penetration test (Pd) and the proposed K-slump test (Km). The obtained results show that G/S ratio close to 1 and G1/G2 ratio close to 60% can be considered as optimal values to achieve a good workability while ensuring a sufficient static stability of SCC. Acceptable relationships were obtained between Slump flow, Pi, Pd and Km. Results show that the proposed K-slump test allow to assess both workability and static stability of fresh SCC mixtures.

• 산경연구논집
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• 제12권10호
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• pp.31-41
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• 2021

Purpose: This study estimates the threshold values of institutional quality through investigating the non-linear effect of six sub-indices of Worldwide Governance Indicators on FDI inflows in 34 developing countries in Asia and Eastern Europe over the period from 2000-2017. Research Design, data and methodology: GMM EGLS is employed which does not include the lagged value of the dependent variable as an independent variable. As a proxy for the institutional quality, either one of the six sub-indices of WGI from World Bank or the composite index obtained through a principal component analysis is used in a separate model. Results: An improvement in institutional quality, when the quality stays below a certain threshold level, does not increase FDI inflows, and only when the quality is above the threshold, it can positively influence FDI inflows. The threshold values of political stability and absence of violence, government effectiveness, and rule of law are relatively higher than those of the other dimensions of WGI. Conclusion: Institutional quality of the developing economies of Asia and Eastern Europe has a non-linear effect on FDI inflows. The target countries need to upgrade their institutional quality above the threshold in order to attract more FDIs.

• 유통과학연구
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• 제19권1호
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• pp.27-35
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• 2021

Purpose: This study is to investigate the effect of managerial ownership level in distribution and service companies on the stock price crash. The managerial ownership level affects the firm's information disclosure policy. If managers conceal or withholds business-related unfavorable factors over a long period, the firm's stock price is likely to plummet. In a similar vein, management's equity affects information opacity, and information asymmetry affects stock price collapse. Research design, data, and methodology: A regression analysis is conducted using the data on companies listed on the Korea Composite Stock Price Index (KOSPI) between 2012-2017 to examine the effect of the managerial ownership level on stock price crash risks. Results: Logistic and regression results indicate that the stock price crash risk was reduced as managerial ownership levels are increased. The managerial ownership level has a significant negative coefficient on stock price crash risk, negative conditional return skewness of firm-specific weekly return distribution, and asymmetric volatility between positive and negative price-to-earnings ratios. Conclusions: As the ownership and management align, the likeliness of withholding business-related information is reduced. This study's results imply that the stock price crash risk reduces as the managerial ownership level increases because shareholder and manager interests coincide, thereby reducing information asymmetry.

• The Journal of Asian Finance, Economics and Business
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• 제8권3호
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• pp.251-265
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• 2021

It seems a common sense that corporate social responsibility (CSR) is a key driver to attain business sustainability. Nevertheless, there has been little research on the performance of socially responsible activities, including economic and environmental responsibility activities in internationally diversified firms. The purpose of this study was to evaluate the effects of CSR activities on management performance. For this evaluation, an empirical analysis was conducted with a total of 2,520 cases, selected from companies listed on the Korea Composite Stock Price Index market for six years from 2013 to 2018. As proxies for management performance, financial date such as a total asset net profit ratio and a total asset-operating ratio were used. A multivariate regression analysis was conducted to test hypotheses. The results of this analysis indicated that firms in the CSR outstanding group are significantly higher than other groups in management performances. In addition, CSR activities of internationally diversified firms positively influence their total asset net profit ratio and total asset-operating ratio. The results suggested that CSR activities of these firms can play a significant role in enhancing management performances amid the economic status of Korea, where a degree of export dependency is high.