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An Outlier Detection Using Autoencoder for Ocean Observation Data (해양 이상 자료 탐지를 위한 오토인코더 활용 기법 최적화 연구)

  • Kim, Hyeon-Jae;Kim, Dong-Hoon;Lim, Chaewook;Shin, Yongtak;Lee, Sang-Chul;Choi, Youngjin;Woo, Seung-Buhm
    • Journal of Korean Society of Coastal and Ocean Engineers
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    • v.33 no.6
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    • pp.265-274
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    • 2021
  • Outlier detection research in ocean data has traditionally been performed using statistical and distance-based machine learning algorithms. Recently, AI-based methods have received a lot of attention and so-called supervised learning methods that require classification information for data are mainly used. This supervised learning method requires a lot of time and costs because classification information (label) must be manually designated for all data required for learning. In this study, an autoencoder based on unsupervised learning was applied as an outlier detection to overcome this problem. For the experiment, two experiments were designed: one is univariate learning, in which only SST data was used among the observation data of Deokjeok Island and the other is multivariate learning, in which SST, air temperature, wind direction, wind speed, air pressure, and humidity were used. Period of data is 25 years from 1996 to 2020, and a pre-processing considering the characteristics of ocean data was applied to the data. An outlier detection of actual SST data was tried with a learned univariate and multivariate autoencoder. We tried to detect outliers in real SST data using trained univariate and multivariate autoencoders. To compare model performance, various outlier detection methods were applied to synthetic data with artificially inserted errors. As a result of quantitatively evaluating the performance of these methods, the multivariate/univariate accuracy was about 96%/91%, respectively, indicating that the multivariate autoencoder had better outlier detection performance. Outlier detection using an unsupervised learning-based autoencoder is expected to be used in various ways in that it can reduce subjective classification errors and cost and time required for data labeling.

An Evaluation of Allowable Bearing Capacity of Weathered Rock by Large-Scale Plate-Bearing Test and Numerical Analysis (대형평판재하시험 및 수치해석에 의한 풍화암 허용지지력 평가)

  • Hong, Seung-Hyeun
    • Journal of the Korean Geotechnical Society
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    • v.38 no.10
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    • pp.61-74
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    • 2022
  • Considering that the number of cases in which a structure foundation is located on weathered rock has been increasing recently, for adequate design bearing capacity of a foundation on weathered rock, allowable bearing capacities of such foundations in geotechnical investigation reports were studied. With reference to the study results, the allowable bearing capacity of a foundation on weathered rock was approximately 400-700 kN/m2, with a large variation, and was considered a conservative value. Because the allowable bearing capacity of the foundation ground is an important index in determining the foundation type in the early design stage, it can have a significant influence on the construction cost and period according to the initial decision. Thus, in this study, six large-scale plate-bearing tests were conducted on weathered rock, and the bearing capacity and settlement characteristics were analyzed. According to the test results, the bearing capacities from the six tests exceeded 1,500 kN/m2, and it shows that the results are similar with the one of bearing capacity formula by Pressuremeter tests when compared with the various bearing capacity formula. In addition, the elastic modulus determined by the inverse calculation of the load-settlement behavior from the large-scale plate-bearing tests was appropriate for applying the elastic modulus of the Pressuremeter tests. With consideration of the large-scale plate-bearing tests in this study and other results of plate-bearing tests on weathered rock in Korea, the allowable bearing capacity of weathered rock is evaluated to be over 1,000 kN/m2. However, because the settlement of the foundation increases as the foundation size increases, the allowable bearing capacity should be restrained by the allowable settlement criteria of an upper structure. Therefore, in this study, the anticipated foundation settlements along the foundation size and the thickness of weathered rocks have been evaluated by numerical analysis, and the foundation size and ground conditions, with an allowable bearing capacity of over 1,000 kN/m2, have been proposed as a table. These findings are considered useful in determining the foundation type in the early foundation design.

Improvement in Calculating Engineer Standard Wage Rate and Its Appropriate Level Computation (엔지니어링 노임단가 산출기준 개선방안과 적정 노임단가 추정)

  • Lee, Jae Yul;Lee, Hae Kyung
    • KSCE Journal of Civil and Environmental Engineering Research
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    • v.42 no.6
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    • pp.853-860
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    • 2022
  • The purpose of this study is to suggest an improvement plan for the calculation method of the engineer standard wage rate (ESWR) and to compute a reasonable ESWR. To this end, an adequacy review of theESWR calculation criteria was conducted along with an extensive engineering industry survey. The survey results were analyzed using an effective response sample of 748 companies out of 1,000 survey samples extracted by stratifying the 5,879 survey population. The main results were as follows. ①When calculating the engineering service fee, the prime contractor's engineer wage is suitable for the ESWR. The ESWR can be estimated by the formula 'average wage÷[1-proportion of subcontract orders×(1-subcontract rate)].' ② The field survey showed that the number of monthly working days was 20.35-20.54 days at 99 % confidence interval, which was significantly different from the current standard (22 days). In addition, as a result of a legal review of the ESWR criteria, it was found that the number of working days should be calculated in accordance with the Labor Standards Act after 2022. ③ Applying government guidelines, the time difference between the wage survey and the ESWR application can be corrected by the past ESWR increase rate for a specific period. ④ Using modeling based on the analysis above, the current ESWR was 13.5-14.5 % lower than the appropriate level. A lower ESWR was driven by the non-reflection of subcontract structure (4.1 %), overestimation of monthly work days (6.8-7.8 %), and application of past wage (2.6 %). The proposed model is expected to be widely used in policy making, as it can provide a useful framework for calculating the standard wage rate in similar industries as well as calculating appropriate engineering fees.

A Study on the Perception of Concurrent Use of Western and Korean Medicine Care and Integrated Medical Service in Korea - Targeting tertiary hospital users - (의-한의 동시 진료 및 통합의료서비스에 대한 인식조사 - 3차 상급종합병원 이용자를 대상으로 -)

  • Seo, Sangwoo;Kim, Hyungsuk;Lee, Seung Hyeun;Kong, Moonkyoo;Lee, Beom-Joon;Heo, Sung Hyuk;Kwon, Seung-won;Park, Bong Jin;Yun, Dong Hwan;Lee, Euiju;Oh, Hyunjoo;Kim, Sung-Bum;Choi, Hye-Sook;Kim, Kwan-Il;Chung, Won-Seok
    • The Journal of Korean Medicine
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    • v.43 no.2
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    • pp.51-60
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    • 2022
  • Objectives: Currently, Korea's medical services are divided into Western medicine and Korean medicine, and people who are not satisfied with the existing treatments are looking for complementary and alternative medicine(CAM). Therefore, this study attempted to confirm patients' perception of the ongoing collaborative treatment and integrated medical service that added CAM to collaborative treatment based on tertiary hospital users. So that we can confirm the expected advantage and disadvantage of integrated medical service system and the necessity of supporting medical expenses for it. Methods: The survey was conducted on 100 people who experienced tertiary hospital treatment and other 100 people who experienced both tertiary hospital treatment and Korean medicine treatment at the same period. The survey was conducted until the number of respondents in both group reached 100. The survey was conducted through e-mail and was conducted from September 27, 2021 to October 8, 2021. Results: For the advantages of collaborative treatment 'increased in psychological stability,' and for disadvantages 'longer time spent for treatment' were the most common. If integrated medical services are implemented in the future, expected advantages include 'consideration of various treatments.' and expected disadvantages include 'increased medical cost.' The needs to expand support for health insurance for integrated medical services were 75.5% among responders. Conclusions: We were able to find out the (expected) advantages and disadvantages of the collaborative medical care and the integrated medical system that medical users experienced or expected, also confirmed positive answers to the expansion of health insurance support for the integrated medical system.

An Empirical Study on the Improvement of In Situ Soil Remediation Using Plasma Blasting, Pneumatic Fracturing and Vacuum Suction (플라즈마 블라스팅, 공압파쇄, 진공추출이 활용된 지중 토양정화공법의 정화 개선 효과에 대한 실증연구)

  • Jae-Yong Song;Geun-Chun Lee;Cha-Won Kang;Eun-Sup Kim;Hyun-Shic Jang;Bo-An Jang;Yu-Chul Park
    • The Journal of Engineering Geology
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    • v.33 no.1
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    • pp.85-103
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    • 2023
  • The in-situ remediation of a solidified stratum containing a large amount of fine-texture material like clay or organic matter in contaminated soil faces limitations such as increased remediation cost resulting from decreased purification efficiency. Even if the soil conditions are good, remediation generally requires a long time to complete because of non-uniform soil properties and low permeability. This study assessed the remediation effect and evaluated the field applicability of a methodology that combines pneumatic fracturing, vacuum extraction, and plasma blasting (the PPV method) to improve the limitations facing existing underground remediation methods. For comparison, underground remediation was performed over 80 days using the experimental PPV method and chemical oxidation (the control method). The control group showed no decrease in the degree of contamination due to the poor delivery of the soil remediation agent, whereas the PPV method clearly reduced the degree of contamination during the remediation period. Remediation effect, as assessed by the reduction of the highest TPH (Total Petroleum Hydrocarbons) concentration by distance from the injection well, was uncleared in the control group, whereas the PPV method showed a remediation effect of 62.6% within a 1 m radius of the injection well radius, 90.1% within 1.1~2.0 m, and 92.1% within 2.1~3.0 m. When evaluating the remediation efficiency by considering the average rate of TPH concentration reduction by distance from the injection well, the control group was not clear; in contrast, the PPV method showed 53.6% remediation effect within 1 m of the injection well, 82.4% within 1.1~2.0 m, and 68.7% within 2.1~3.0 m. Both ways of considering purification efficiency (based on changes in TPH maximum and average contamination concentration) found the PPV method to increase the remediation effect by 149.0~184.8% compared with the control group; its average increase in remediation effect was ~167%. The time taken to reduce contamination by 80% of the initial concentration was evaluated by deriving a correlation equation through analysis of the TPH concentration: the PPV method could reduce the purification time by 184.4% compared with chemical oxidation. However, the present evaluation of a single site cannot be equally applied to all strata, so additional research is necessary to explore more clearly the proposed method's effect.

Application of Remote Sensing Techniques to Survey and Estimate the Standing-Stock of Floating Debris in the Upper Daecheong Lake (원격탐사 기법 적용을 통한 대청호 상류 유입 부유쓰레기 조사 및 현존량 추정 연구)

  • Youngmin Kim;Seon Woong Jang ;Heung-Min Kim;Tak-Young Kim;Suho Bak
    • Korean Journal of Remote Sensing
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    • v.39 no.5_1
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    • pp.589-597
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    • 2023
  • Floating debris in large quantities from land during heavy rainfall has adverse social, economic, and environmental impacts, but the monitoring system for the concentration area and amount is insufficient. In this study, we proposed an efficient monitoring method for floating debris entering the river during heavy rainfall in Daecheong Lake, the largest water supply source in the central region, and applied remote sensing techniques to estimate the standing-stock of floating debris. To investigate the status of floating debris in the upper of Daecheong Lake, we used a tracking buoy equipped with a low-orbit satellite communication terminal to identify the movement route and behavior characteristics, and used a drone to estimate the potential concentration area and standing-stock of floating debris. The location tracking buoys moved rapidly during the period when the cumulative rainfall for 3 days increased by more than 200 to 300 mm. In the case of Hotan Bridge, which showed the longest distance, it moved about 72.8 km for one day, and the maximum moving speed at this time was 5.71 km/h. As a result of calculating the standing-stock of floating debris using a drone after heavy rainfall, it was found to be 658.8 to 9,165.4 tons, with the largest amount occurring in the Seokhori area. In this study, we were able to identify the main concentrations of floating debris by using location-tracking buoys and drones. It is believed that remote sensing-based monitoring methods, which are more mobile and quicker than traditional monitoring methods, can contribute to reducing the cost of collecting and processing large amounts of floating debris that flows in during heavy rain periods in the future.

The Effects of the Revised Elderly Fixed Outpatient Copayment on the Health Utilization of the Elderly (노인외래정액제 개선이 고령층의 의료이용에 미친 영향)

  • Li-hyun Kim;Gyeong-Min Lee;Woo-Ri Lee;Ki-Bong Yoo
    • Health Policy and Management
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    • v.34 no.2
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    • pp.196-210
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    • 2024
  • Background: In January 2018, revised elderly fixed outpatient copayment for the elderly were implemented. When people ages 65 years and older receive outpatient treatment at clinic-level medical institutions (clinic, dental clinic, Korean medicine clinic), with medical expenses exceeding 15,000 won but not exceeding 25,000 won, their copayment rates have decreased differentially from 30%. This study aimed to examine the changes of health utilization of elderly after revised elderly fixed outpatient copayment. Methods: We used Korea health panel data from 2016 to 2018. The time period is divided into before and after the revised elderly fixed outpatient copayment. We conducted Poisson segmented regression to estimate the changes in outpatient utilization and inpatient utilization and conducted segmented regression to estimate the changes in medical expenses. Results: Immediately after the revised policy, the number of clinic and Korean medicine outpatient visits of medical expenses under 15,000 won decreased. But the number of clinic outpatient visits in the range of 15,000 to 20,000 won and Korean medicine clinic in the range of 20,000 to 25,000 won increased. Copayment in outpatient temporarily decreased. The inpatient admission rates and total medical expenses temporarily decreased but increased again. Conclusion: We confirmed the temporary increase in outpatient utilization in the medical expense segment with reduced copayment rates. And a temporary decrease in medical expenses followed by an increase again. To reduce the burden of medical expense among elderly in the long run, efforts to establish chronic disease management policies aimed at preventing disease occurrence and deterioration in advance need to continue.

Use of Parasites for Stock Analysis of Salmonid Fishes (연어과 어류의 계군분석을 위한 기생충의 활용)

  • Kim, Jeong-Ho
    • The Sea:JOURNAL OF THE KOREAN SOCIETY OF OCEANOGRAPHY
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    • v.12 no.2
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    • pp.112-120
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    • 2007
  • This paper reviews the use of parasites as 'biological tags' for studying stock analysis of salmonid fishes. Numerous definitions of stock concepts exist, but most of them essentially define a group of fish as having similar biological characteristics and being self-reproducing as stocks. It is important to manage fish stocks for human consumption and sustainable production and especially for salmonid fishes. Because these fry are considered as each country's property, it is necessary to identify and discriminate each fish stock in the open sea. Methods of separating fish stocks are very diverse. Artificial tags, parasites, otoliths scales and genetic characters have been used for stock analysis and each method has advantages and disadvantages. Of these parasites can be good biological tags because they are applied by nature at no cost. Parasites can be infected with susceptible host fishes when they enter into certain areas. Then if they move to the outside and are caught researchers can infer that the fish had been in the endemic area for a period of time during their life. Hence the host fish can be considered as naturally 'tagged' by parasites. However, if they do not pass the parasites-endemic. area, they will harbour no parasites. Therefore, researchers can discriminate each fish stocks and trace their migration routes with these biological tags. In this paper, several examples on the use of parasites as biological tags for studying salmonids, as well as other species, are listed. The advantages and limitations of parasites as biological tags are also discussed. Chum salmon (Oncorhynchus keta), the main salmonid species migrating to Korea, is distributed all around the North Pacific. Korean chum salmon are generally thought to move to the Sea of Okhotsk, the western North Pacific and the Bering Sea. However, there is no clear information on the distribution and migration pathways of Korean chum salmon, and no markers exist for separating them from others yet. Recent Korean chum salmon stock analysis including parasites information are mentioned.

Contrast Media in Abdominal Computed Tomography: Optimization of Delivery Methods

  • Joon Koo Han;Byung Ihn Choi;Ah Young Kim;Soo Jung Kim
    • Korean Journal of Radiology
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    • v.2 no.1
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    • pp.28-36
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    • 2001
  • Objective: To provide a systematic overview of the effects of various parameters on contrast enhancement within the same population, an animal experiment as well as a computer-aided simulation study was performed. Materials and Methods: In an animal experiment, single-level dynamic CT through the liver was performed at 5-second intervals just after the injection of contrast medium for 3 minutes. Combinations of three different amounts (1, 2, 3 mL/kg), concentrations (150, 200, 300 mgI/mL), and injection rates (0.5, 1, 2 mL/sec) were used. The CT number of the aorta (A), portal vein (P) and liver (L) was measured in each image, and time-attenuation curves for A, P and L were thus obtained. The degree of maximum enhancement (Imax) and time to reach peak enhancement (Tmax) of A, P and L were determined, and times to equilibrium (Teq) were analyzed. In the computed-aided simulation model, a program based on the amount, flow, and diffusion coefficient of body fluid in various compartments of the human body was designed. The input variables were the concentrations, volumes and injection rates of the contrast media used. The program generated the time-attenuation curves of A, P and L, as well as liver-to-hepatocellular carcinoma (HCC) contrast curves. On each curve, we calculated and plotted the optimal temporal window (time period above the lower threshold, which in this experiment was 10 Hounsfield units), the total area under the curve above the lower threshold, and the area within the optimal range. Results: A. Animal Experiment: At a given concentration and injection rate, an increased volume of contrast medium led to increases in Imax A, P and L. In addition, Tmax A, P, L and Teq were prolonged in parallel with increases in injection time The time-attenuation curve shifted upward and to the right. For a given volume and injection rate, an increased concentration of contrast medium increased the degree of aortic, portal and hepatic enhancement, though Tmax A, P and L remained the same. The time-attenuation curve shifted upward. For a given volume and concentration of contrast medium, changes in the injection rate had a prominent effect on aortic enhancement, and that of the portal vein and hepatic parenchyma also showed some increase, though the effect was less prominent. A increased in the rate of contrast injection led to shifting of the time enhancement curve to the left and upward. B. Computer Simulation: At a faster injection rate, there was minimal change in the degree of hepatic attenuation, though the duration of the optimal temporal window decreased. The area between 10 and 30 HU was greatest when contrast media was delivered at a rate of 2 3 mL/sec. Although the total area under the curve increased in proportion to the injection rate, most of this increase was above the upper threshould and thus the temporal window was narrow and the optimal area decreased. Conclusion: Increases in volume, concentration and injection rate all resulted in improved arterial enhancement. If cost was disregarded, increasing the injection volume was the most reliable way of obtaining good quality enhancement. The optimal way of delivering a given amount of contrast medium can be calculated using a computer-based mathematical model.

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The Relations between Financial Constraints and Dividend Smoothing of Innovative Small and Medium Sized Enterprises (혁신형 중소기업의 재무적 제약과 배당스무딩간의 관계)

  • Shin, Min-Shik;Kim, Soo-Eun
    • Korean small business review
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    • v.31 no.4
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    • pp.67-93
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    • 2009
  • The purpose of this paper is to explore the relations between financial constraints and dividend smoothing of innovative small and medium sized enterprises(SMEs) listed on Korea Securities Market and Kosdaq Market of Korea Exchange. The innovative SMEs is defined as the firms with high level of R&D intensity which is measured by (R&D investment/total sales) ratio, according to Chauvin and Hirschey (1993). The R&D investment plays an important role as the innovative driver that can increase the future growth opportunity and profitability of the firms. Therefore, the R&D investment have large, positive, and consistent influences on the market value of the firm. In this point of view, we expect that the innovative SMEs can adjust dividend payment faster than the noninnovative SMEs, on the ground of their future growth opportunity and profitability. And also, we expect that the financial unconstrained firms can adjust dividend payment faster than the financial constrained firms, on the ground of their financing ability of investment funds through the market accessibility. Aivazian et al.(2006) exert that the financial unconstrained firms with the high accessibility to capital market can adjust dividend payment faster than the financial constrained firms. We collect the sample firms among the total SMEs listed on Korea Securities Market and Kosdaq Market of Korea Exchange during the periods from January 1999 to December 2007 from the KIS Value Library database. The total number of firm-year observations of the total sample firms throughout the entire period is 5,544, the number of firm-year observations of the dividend firms is 2,919, and the number of firm-year observations of the non-dividend firms is 2,625. About 53%(or 2,919) of these total 5,544 observations involve firms that make a dividend payment. The dividend firms are divided into two groups according to the R&D intensity, such as the innovative SMEs with larger than median of R&D intensity and the noninnovative SMEs with smaller than median of R&D intensity. The number of firm-year observations of the innovative SMEs is 1,506, and the number of firm-year observations of the noninnovative SMEs is 1,413. Furthermore, the innovative SMEs are divided into two groups according to level of financial constraints, such as the financial unconstrained firms and the financial constrained firms. The number of firm-year observations of the former is 894, and the number of firm-year observations of the latter is 612. Although all available firm-year observations of the dividend firms are collected, deletions are made in the case of financial industries such as banks, securities company, insurance company, and other financial services company, because their capital structure and business style are widely different from the general manufacturing firms. The stock repurchase was involved in dividend payment because Grullon and Michaely (2002) examined the substitution hypothesis between dividends and stock repurchases. However, our data structure is an unbalanced panel data since there is no requirement that the firm-year observations data are all available for each firms during the entire periods from January 1999 to December 2007 from the KIS Value Library database. We firstly estimate the classic Lintner(1956) dividend adjustment model, where the decision to smooth dividend or to adopt a residual dividend policy depends on financial constraints measured by market accessibility. Lintner model indicates that firms maintain stable and long run target payout ratio, and that firms adjust partially the gap between current payout rato and target payout ratio each year. In the Lintner model, dependent variable is the current dividend per share(DPSt), and independent variables are the past dividend per share(DPSt-1) and the current earnings per share(EPSt). We hypothesized that firms adjust partially the gap between the current dividend per share(DPSt) and the target payout ratio(Ω) each year, when the past dividend per share(DPSt-1) deviate from the target payout ratio(Ω). We secondly estimate the expansion model that extend the Lintner model by including the determinants suggested by the major theories of dividend, namely, residual dividend theory, dividend signaling theory, agency theory, catering theory, and transactions cost theory. In the expansion model, dependent variable is the current dividend per share(DPSt), explanatory variables are the past dividend per share(DPSt-1) and the current earnings per share(EPSt), and control variables are the current capital expenditure ratio(CEAt), the current leverage ratio(LEVt), the current operating return on assets(ROAt), the current business risk(RISKt), the current trading volume turnover ratio(TURNt), and the current dividend premium(DPREMt). In these control variables, CEAt, LEVt, and ROAt are the determinants suggested by the residual dividend theory and the agency theory, ROAt and RISKt are the determinants suggested by the dividend signaling theory, TURNt is the determinant suggested by the transactions cost theory, and DPREMt is the determinant suggested by the catering theory. Furthermore, we thirdly estimate the Lintner model and the expansion model by using the panel data of the financial unconstrained firms and the financial constrained firms, that are divided into two groups according to level of financial constraints. We expect that the financial unconstrained firms can adjust dividend payment faster than the financial constrained firms, because the former can finance more easily the investment funds through the market accessibility than the latter. We analyzed descriptive statistics such as mean, standard deviation, and median to delete the outliers from the panel data, conducted one way analysis of variance to check up the industry-specfic effects, and conducted difference test of firms characteristic variables between innovative SMEs and noninnovative SMEs as well as difference test of firms characteristic variables between financial unconstrained firms and financial constrained firms. We also conducted the correlation analysis and the variance inflation factors analysis to detect any multicollinearity among the independent variables. Both of the correlation coefficients and the variance inflation factors are roughly low to the extent that may be ignored the multicollinearity among the independent variables. Furthermore, we estimate both of the Lintner model and the expansion model using the panel regression analysis. We firstly test the time-specific effects and the firm-specific effects may be involved in our panel data through the Lagrange multiplier test that was proposed by Breusch and Pagan(1980), and secondly conduct Hausman test to prove that fixed effect model is fitter with our panel data than the random effect model. The main results of this study can be summarized as follows. The determinants suggested by the major theories of dividend, namely, residual dividend theory, dividend signaling theory, agency theory, catering theory, and transactions cost theory explain significantly the dividend policy of the innovative SMEs. Lintner model indicates that firms maintain stable and long run target payout ratio, and that firms adjust partially the gap between the current payout ratio and the target payout ratio each year. In the core variables of Lintner model, the past dividend per share has more effects to dividend smoothing than the current earnings per share. These results suggest that the innovative SMEs maintain stable and long run dividend policy which sustains the past dividend per share level without corporate special reasons. The main results show that dividend adjustment speed of the innovative SMEs is faster than that of the noninnovative SMEs. This means that the innovative SMEs with high level of R&D intensity can adjust dividend payment faster than the noninnovative SMEs, on the ground of their future growth opportunity and profitability. The other main results show that dividend adjustment speed of the financial unconstrained SMEs is faster than that of the financial constrained SMEs. This means that the financial unconstrained firms with high accessibility to capital market can adjust dividend payment faster than the financial constrained firms, on the ground of their financing ability of investment funds through the market accessibility. Futhermore, the other additional results show that dividend adjustment speed of the innovative SMEs classified by the Small and Medium Business Administration is faster than that of the unclassified SMEs. They are linked with various financial policies and services such as credit guaranteed service, policy fund for SMEs, venture investment fund, insurance program, and so on. In conclusion, the past dividend per share and the current earnings per share suggested by the Lintner model explain mainly dividend adjustment speed of the innovative SMEs, and also the financial constraints explain partially. Therefore, if managers can properly understand of the relations between financial constraints and dividend smoothing of innovative SMEs, they can maintain stable and long run dividend policy of the innovative SMEs through dividend smoothing. These are encouraging results for Korea government, that is, the Small and Medium Business Administration as it has implemented many policies to commit to the innovative SMEs. This paper may have a few limitations because it may be only early study about the relations between financial constraints and dividend smoothing of the innovative SMEs. Specifically, this paper may not adequately capture all of the subtle features of the innovative SMEs and the financial unconstrained SMEs. Therefore, we think that it is necessary to expand sample firms and control variables, and use more elaborate analysis methods in the future studies.