• The Journal of Industrial Distribution & Business
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• v.6 no.4
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• pp.27-37
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• 2015

Purpose - This study first explores the possible dynamic relationship between ownership structure and firm performance using a panel of 4,900 Chinese-listed small- and medium-sized enterprises (SMEs) from 1999 to 2012. Research design, data, and methodology - We address this issue through a dynamic panel model using a method of moments (GMM) technique and dynamic simultaneous equations to alleviate the potential endogenous problem: unobserved heterogeneity, simultaneity, and dynamic endogeneity. Results - Under the framework of dynamic endogeneity, firm performance has a significantly positive influence on ownership, but not vice versa. Ownership and performance can be explained by their owned lagged values, respectively. Moreover, intertemporal endogeneity exists among ownership, investment, and performance through the application of system dynamic equations, which implies that the relationship among ownership structure, investment, and firm performance is dynamic by nature. Conclusions - This study also significantly contributes to a better understanding of dynamic corporate governance by providing further empirical evidence from the largest capital market in the Asian region.

• Proceedings of the Computational Structural Engineering Institute Conference
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• 1996.04a
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• pp.111-118
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• 1996

Dynamic load models which show the practical behavior of truss bridge subjected to moving train load are presented. Three basically approaches are available for evaluating structural response to dynamic effects : moving force, moving mass, and influence moving force and mass. Simple warren truss bridge model is selected in this research, and idealized lumped mass system, modelled as a planar structure. In the process of dynamic analysis, the uncoupled equation of motion is derived from simultaneous equation of the motion of truss bridge and moving train load. The solution of the uncoupled equations of motion is solved by Newmark-$\beta$ method. The results show that dynamic response of moving mass and static analysis considering the impact factor specified in the present railway bridge code was nearly the same. Generally, the dynamic response of moving force is somewhat greater than that of moving mass. The dynamic load models which are presented by this study are obtained relatively adequate load model when apply to a truss bridge.

• Structural Engineering and Mechanics
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• v.27 no.5
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• pp.609-623
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• 2007

The problem of a semi-infinite magneto-electro-elastically impermeable mode-III crack in a magneto-electro-elastic material is considered under the action of impact loads. For the case when a pair of concentrated anti-plane shear impacts, electric displacement and magnetic induction impacts are exerted symmetrically on the upper and lower surfaces of the crack, the magneto-electro-elastic field ahead of the crack tip is determined in explicit form. The dynamic intensity factors and dynamic energy density factor are obtained. The method adopted is to reduce the mixed initial-boundary value problem, by using the Laplace and Fourier transforms, into three simultaneous dual integral equations, one of which is converted into an Abel's integral equation and the others into a singular integral equation with Cauchy kernel. Based on the obtained fundamental solutions of point impact loads, the solutions of two kinds of different loading cases are evaluated by integration. For some particular cases, the present results reduce to the previous results.

• Journal of the Korea institute for structural maintenance and inspection
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• v.2 no.2
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• pp.177-184
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• 1998

The equation of motion on the vehicle-bridge system is established as the simultaneous equations which are combined the equation of vehicle and bridge by the interaction elements. A vehicle element is modeled as lumped masses supported by springs and dashpots, and a bridge element with pavement roughness is modeled as beam elements. An interaction element is defined to consist of a bridge element and the suspension units of the vehicle resting on the element. By the dynamic condensation method, the degrees of the freedom are eliminated, and compared with all the degrees of freedom on the bridge, the efforts of calculation is decreased. Thus, although a very small computational error is occured, the present technique appears to be computationally more efficient. It is particularly suitable for the simulation of bridges with a series of vehicles moving on the deck.

• Journal of Korean Institute of Industrial Engineers
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• v.23 no.3
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• pp.545-557
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• 1997

This paper deals with dynamic optimal pricing for new products by a firm which maximizes the discounted profit stream of it's own in a duopoly. The problem is constructed as differential games and dynamic optimization theory. Cost is assumed to decline as time goes on. A modified customer's choice model is formulated as a diffusion model and we solve a dynamic optimization problem by adopting the diffusion model. Since this paper focus on deriving real prices not showing a time trend, we formulate recursive form equations of costate variables(shadow price) and a simultaneous equation of price. Hence we derive a dynamic optimal pricing model for using in real market. In particular, we construct a dynamic optimal pricing model in the case that there are benefits from not only new subscribers but also previous subscribers. We analyze instant camera market in U.S.A(1976-1985) by utilizing the above model.

• Journal of the Korean Operations Research and Management Science Society
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• v.15 no.2
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• pp.71-83
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• 1990

This paper concerns the analyses of dynamic adjustments in noncooperative games where the market informations are given at discrete time intervals. During the game period, the market informations are given at discrete time intervals. During the game period, the inventories initially stored by players are to be released one day based to the completely competitive market so as to maximize each player's revenue, where players' parameters are unknown one another. Game results have shown that the continuous dynamic adjustment does not necessarily assure the better revenue, and if a player thinks that his parameter is underestimated by hig opponent, then he is better overestimate his opponent's parameter.

• Structural Engineering and Mechanics
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• v.12 no.5
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• pp.527-540
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• 2001

A new sort of learning algorithm named whole learning algorithm is proposed to simulate the nonlinear and dynamic behavior of RC members for the estimation of structural integrity. A mathematical technique to solve the multi-objective optimization problem is applied for the learning of the feedforward neural network, which is formulated so as to minimize the Euclidean norm of the error vector defined as the difference between the outputs and the target values for all the learning data sets. The change of the outputs is approximated in the first-order with respect to the amount of weight modification of the network. The governing equation for weight modification to make the error vector null is constituted with the consideration of the approximated outputs for all the learning data sets. The solution is neatly determined by means of the Moore-Penrose generalized inverse after summarization of the governing equation into the linear simultaneous equations with a rectangular matrix of coefficients. The learning efficiency of the proposed algorithm from the viewpoint of computational cost is verified in three types of problems to learn the truth table for exclusive or, the stress-strain relationship described by the Ramberg-Osgood model and the nonlinear and dynamic behavior of RC members observed under an earthquake.

• The Korean Journal of Applied Statistics
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• v.11 no.1
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• pp.65-81
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• 1998

Simultaneous equation models, increasingly used in many detailed analyses, tend to get larger and more sophisticated to describe the structure of the study area to be close to the actual situations. In setting up such a system of equations, statistical results and simulation performance of the model as a whole may be meaningless and unrepresentative of the real world due to a structural instability that is built into the model when the equations are combined and solved simultaneously. Even though the use and subsequent analysis of an unstable system are likely to mislead us, most of the studies that take the simultaneous equation approaches neglect such a serious problem. Thus it is necessary to illustrate how to check the stability problem and apply to the actual model, then investigate how such as analysis is able to provide useful information about the structural characteristics of the model from the dynamic viewpoint.

• The Korean Journal of Applied Statistics
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• v.27 no.5
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• pp.797-808
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• 2014

It is increasingly interested in investigating the relationships and the dynamic characteristics of variations among high class corporate values. This study formulates a statistical model of simultaneous equation system to examine the relationships among variations of stock returns for each class of corporate governance structure and to analyze the dynamic patterns of their long-run adjustment processes. Changes in stock returns for each class of corporate governance by an exogenous shock are found to have common structural features of slow adjustments to the long-run equilibriums.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.14 no.6
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• pp.1299-1308
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• 1994

This paper is considered on the dynamic behavior and the dynamic impact coefficient on the cable-stayed bridge under the vehicle load. The method of static analysis, that is, the transfer matrix method is used to get influence values about displacements, section forces of girder and cable forces. Gotten influence values were used as basic data to analyse dynamic behavior. This paper used the transfer matrix method because it is relatively simpler than the finite element method, and calculating speed of computer is very fast and the precision of computation is high. In the process of dynamic analysis, the uncoupled equation of motion is derived from simultaneous equation of the motion of cable-stayed bridge and vehicle travelling by using mode shape, which was borne from system of undamped free vibration. The solution of the uncoupled equation of motion, that is, time history of response of deflections, velocity and acceleration on reference coordinate system, is found by Newmark-${\beta}$ method, a kind of direct integral method. After the time history of dynamic response was gotten, and it was transfered to the time history of dynamic response of cable-stayed bridge by linear transformation of coordinates. As a result of this numerical analysis, effect of dynamic behavior for cable-stayed bridge under the vehicle load has varied depending on parameter of design, that is, the ratio of span, the ratio of main span length, tower height, the flexural rigidity of longitudinal girder, the flexural rigidity of tower, and the cable stiffness, investigated. Very good agreements with the existing solution in the literature are shown for the uncracked plate as well as the cracked plate.