• The Journal of Industrial Distribution & Business
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• v.8 no.1
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• pp.5-13
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• 2017

Purpose - In this article, a dynamic model like a VAR is an appropriate choice for estimating the possible interrelationship between ownership structure and firm performance as a dynamic process. Research design, data, and methodology - Data of this work are collected from Chinese stock exchange including 350 Chinese-listed firms during the period of 1999-2012. We hypothesize that this interrelationship dynamically exists between ownership structure and firm performance. To examine the correlation, a panel Vector Auto-regression (PVAR) approach generated by GMM method is utilized to test the possible dynamic relation embedded in corporate governance. Another two dynamic analysis solutions such as orthogonalized impulse-response function and variance decomposition are also used simultaneously. Results - Findings of this study indicate the evidence that dynamically endogenous relationship exists between ownership structure and firm performance. Further, there is a dynamical correlation between investment and performance. Impulse response and variance decomposition illustrate that impact of a shock to variables themselves is the main source for their variability. Conclusions - The conclusion in this study is that there is a bidirectional and inter-temporal effect between proportion of ownership and corporate performance for a long run in accordance with impulse response function. Overall, our results suggest that corporate governance in China is more market oriented.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.10
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• pp.571-579
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• 2020

This paper examines how human capital and other economic variables, such as private investment, economic growth, government investment, inflation, and unemployment influence inequality in Indonesia's provinces. We apply panel data model with fixed effect estimation for the data of 34 provinces from the period 2013 to 2019. We develop a new index for human capital using the education index approach. The results show that human capital has a negative and significant effect on income inequality. An increase in human capital is related to an increase in knowledge and competence due to the longer average school year and expectations of the school year. Human capital has increased the possibility of a person being accepted into the job market and earning a higher income; hence, it lowers income inequality. We also find that inflation leads to a higher gap of income distribution. A further implication of this situation is that the rise in inflation causes an increase in low-income people, and as a consequence, makes their lives worse off. This paper will be beneficial for policy-makers for whom human capital, which is measured using an education index, is an important factor that significantly affects income inequality, in addition to other economic factors.

• Proceedings of the KIEE Conference
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• 2003.11c
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• pp.844-847
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• 2003

Display devices are becoming increasingly important as an interface between humans and machines in the growing information society. In display devices, PDP (Plasma Display Panel) has many advantages in that it has wide screen, wide viewing angle and is light weight, thin. In PDP driving method, if the brightness of input image is high, applying the fixed sustain pulse to the PDP panel will raise the PDP power consumption and may damages the PDP panel. To overcome these problems, the Plasma AI driving method was introduced by the Matshushita co. in Japan. The Plasma AI driving module calculates the peak value and average value of 1 frame image and adjusts the gradation and sustain pulses for 1 frame sustain. In this paper, the proposed PDP driving module is based on the Plasma AI driving module. The proposed driving module calculates peak value and average value, and the brightness distribution of 1 frame image. Using brightness distribution, the proposed driving module divides 1 frame input image into 15 image patterns. For each image pattern, minimum sustain pulses and sub-frames are used for the brightness of 1 frame image and the sustain weight for 64, 128, 192 gradation is proposed. Therefore, the sustain power consumption can be reduced.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.17 no.2
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• pp.246-251
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• 2016

The use of security lighting that emits spill light is considered a cause of light trespass problems in the residential areas. Therefore, a cutoff panel was installed as an alternative way to reduce light trespass. On the other hand, it has another problem in that it is less effective and is not good enough for aesthetics and safety. In this study, a light cutoff panel was designed and manufactured to reduce the light trespass, and the structure of a proper light cutoff panel was studied. Using a goniophotometer, the light distribution file (IES file) was extracted and the characteristics of light distribution were analyzed using the RELUX program. The results showed that the reduction of spilt light in the backward direction was decreased significantly for all types of light cutoff panels except the coated globe. In the case of a black powder coated light cutoff panel, the forward light caused by light reflected from the surface of the light cutoff panel was also reduced, which means that the black powder coated light cutoff panel is effective in the performance of light cutoff in the forward and backward directions. In addition, the coated glove increased the spilt light in the forward and backward directions because it reflects the upward light to go down. A 90 % accuracy between the measurement value of light trespass and the expected value of the light trespass was obtained from a simulation.

• Journal of Distribution Science
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• v.13 no.9
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• pp.95-101
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• 2015

Purpose - This study provides evidence of the impact of the mandatory adoption of Korean equivalents to International Financial Reporting Standards (K-IFRS) on accounting quality. K-IFRS uses fair value as a basis of measurement and is characterized by principle-based standards. These characteristics can lead to a decrease in conservatism. Therefore, this study aims to examine whether or not there is a change in the level of conservatism before and after the enforcement of K-IFRS (2007~2014). By comparing 2007 through 2008 and 2013 through 2014 (excluding 2009 to 2012), we test "the temporary adjustment phenomenon" and document an overall decline in the degree of conservatism after the adoption of K-IFRS. Research design, data, and methodology - Our sample is comprised of data of all listed Korea Composite Stock Price Index (KOSPI) manufacturing distribution companies in Korea from 2007 to 2014, which yields the pooled sample of 4,412 (panel A) and 1,915 (panel B) firm-year observations for hypotheses 1 and 2. In line with recent literature, we adopt the Givoly and Hayn (2000) model, which recomputes the non-operating accruals, excluding two components that are most likely to capture the effect of restructuring activities: special items and gains or losses from discontinued operations. In addition, we also use these variables: SIZE, LEV, INV_CYCLE, ROA, OWN, and FOR. Results - Our sample period spans 2007 to 2014. This offers evidence on the effect of the mandatory adoption of IFRS on conservatism. Our findings can be summarized as follows. First, in panel A, for mandatory K-IFRS adoption (2011), we do not find any significant evidence of conservatism. We can guess that the "temporary adjustment phenomenon" is the reason that we do not find significant evidence of conservatism. Second, we investigate panel B from 2009 to 2012. We document an overall decline in the degree of conservatism after the adoption of K-IFRS. We can assume that these results are due to "the temporary adjustment phenomenon." Conclusions - This study finds that conservatism significantly decreased after IFRS adoption. In particular, this study makes the initial effort to elucidate "the temporary adjustment phenomenon" to analyze the effect of K-IFRS on conservative accounting. We argue that K-IFRS are conceptually conservative but that inappropriate application of the conservatism principles is likely to prevent financial reporting from reaching the level of conservatism targeted by the IASB. Overall, this paper contributes to the literature on IFRS and can be useful to capital market supervisors who are monitoring the trends of the firms implementing K-IFRS. Additionally, our results inform stakeholders of the potentially negative effect of the greater flexibility permitted by IFRS and/or lack of appropriate enforcement on key dimensions of accounting quality. This has important implications for Korean regulators and standard setters as they review the cost and benefits of IFRS. Our study also sheds light on the importance of the institutional environment in achieving the targeted objectives for improving financial reporting quality.

• Proceedings of the IEEK Conference
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• 2003.11a
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• pp.347-350
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• 2003

In this paper, a new automated defects detection method for a TFT-LCD panel is presented. An input image is preprocessed to lessen small abnormal noises and non-uniformity of the image. The adaptive multi-thresholds are used to detect Muras, which are the major defects occurred on TFT-LCD panels. Those are determined adaptively depending on the brightness and the brightness distribution of a local block. For the synthetic images and real Mura images, the proposed algorithm can effectively detect Muras in a reasonable time.

• Proceedings of the Korean Society of Precision Engineering Conference
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• 2005.06a
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• pp.585-588
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• 2005

Many process parameters have an effect on the auto-body panel forming process. A well designed blank shape causes the material to flow smoothly, reduces the punch and yields a product with uniform thickness distribution. Therefore, the determination of an initial blank shape plays the important role of saving time and cost in the auto-body panel forming process. For these reasons, some approaches to estimate the initial blank shape have been implemented, in this paper The one-step approach using a finite element inverse method will be introduced to predict the optimal forming with changing of blank pressure the developed program is applied to auto-body panel forming.

• Proceedings of the Korean Society of Propulsion Engineers Conference
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• 2007.11a
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• pp.49-54
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• 2007

Flow analysis in a turbine cascade by Euler or Navier-Stokes equation gives relatively accurate solution, however, those method require large computer memory or computing time. on contrast, the panel method， which is applied to incompressible and inviscid flow, provides fast and reasonal solution but the compressibility correction is required for a high air velocity case. In this paper, the compressibility corrected panel method was applied in order to find velocity distribution on turbine blades. Results showed that the calculated velocity in a turbine cascade by the compressibility corrected panel method gave good agreement with experimental results or the solution by finite volume method for compressible flow.

• Advances in concrete construction
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• v.9 no.5
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• pp.459-467
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• 2020

Mechanical and thermal properties of composite sandwich wall panels are affected by changes in their external environment. Humidity and temperature changes induce stress on wall panels and their core connectors. Under the action of ambient temperature, temperature on the outer layer of the wall panel changes greatly, while that on the inner layer only changes slightly. As a result, stress concentration exists at the intersection of the connector and the wall blade. In this paper, temperature field and stress field distribution of UHPC-RW-RC (Ultra-High Performance Concrete - Rock Wool - Reinforced Concrete) wall panel under high temperature-sprinkling and heating-freezing conditions were investigated by using the general finite element software ABAQUS. Additionally, design of the connection between the wall panel and the main structure is proposed. Findings may serve as a scientific reference for design of high performance composite sandwich wall panels.

• Journal of the Korean Society of Propulsion Engineers
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• v.12 no.1
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• pp.23-28
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• 2008

Flow analysis in a turbine cascade by Euler or Navier-Stokes equation gives relatively accurate solution, however, those method require large computer memory or computing time. On contrast, the panel method, which is applied to incompressible and inviscid flow, provides fast and reasonal solution but the compressibility correction is required for a high air velocity case. In this paper, the compressibility corrected panel method was applied in order to find velocity distribution on turbine blades. Results showed that the calculated velocity in a turbine cascade by the compressibility corrected panel method gave good agreement with the solution by finite volume method for compressible flow.