• The Journal of Asian Finance, Economics and Business
• /
• v.8 no.8
• /
• pp.647-658
• /
• 2021

Analysts' forecasts are important for providing useful guidance to investors, especially individual or small investors, and therefore it becomes critical to identify the elements which can potentially increase errors in analysts' forecasts. This study investigates potential factors which can lead to errors in forecasting by analysts, specifically in terms of the level and attributes of corporate earnings. Utilizing a sample of firms listed on the Korean stock markets, this study provides evidence that firms with more volatile and unpredictable earnings feature less accurate analyst forecasts. This study fills a void in the literature by conducting empirical tests for earnings attributes in terms of volatility and unpredictability that could potentially undermine the forecast accuracy. The negative association between the quality of earnings and forecast accuracy is more pronounced for firms with negative net income values. Additional analysis demonstrates that forecast accuracy is significantly lower for the fourth quarter than for other fiscal quarters and that fourth quarter earnings tend to be more volatile and unpredictable. This study contributes to the literature by providing new empirical evidence regarding the comprehensive effects of earnings quality and level on analysts' forecasting accuracy and further suggests potential factors contributing to the fourth quarter anomaly in analyst forecasts in terms of earnings attributes.

• Journal of KIBIM
• /
• v.9 no.4
• /
• pp.1-9
• /
• 2019

Visualized information platforms through building information modeling (BIM) such as virtual reality (VR) and augmented reality (AR) improves the efficiency of architectural information exchange. Despite that, less effort has been directed to evaluate the effectiveness of different BIM visualization platforms for architectural design review. This study fills these gaps and compares three BIM visualization tools for reviewing diverse architectural review factors and technology acceptance degree. Three main BIM visualization tools, which are desktop-based, virtual reality-based and augmented reality-based, were employed and different architectural review factors and user's technology acceptance degree was measured. As a result, VR and AR environment showed better visual presentation than desktop environment during design review. In terms of the technology acceptance level, VR and AR environments have received higher ratings compared to desktop environments. The detailed findings provide guidelines for participants and researchers involved in design review process to selectively adopt VR and AR system to various architectural design review components.

• Journal of the Korean institute of surface engineering
• /
• v.53 no.6
• /
• pp.300-305
• /
• 2020

Corrosion of reinforcement steel rebar is a serious problem in a wide range of concrete application for buildings and infrastructures. Hydrophobizing surface treatments, such as self-assembled monolayer coating, edible oil-impregnation and silicone oil-impregnation were applied to solidified concrete. The hydrophobizing of concrete significantly reduces an absorption and transportation of water toward a steel rebar in concrete, so that the corrosion resistance of the steel rebar. In particular, the silicone oil-impregnation not only forms the hydrophobic monolayer on the concrete but also fills the inter-connected pores of concrete, thus the corrosion of steel rebar is significantly inhibited compared to the self-assembled monolayer coating and edible oil-impregnation. Therefore, the silicone oil-impregnation can be a promising candidate for preventing corrosion of steel rebar in concrete for durable performance and safety.

• Journal of Korea Foundry Society
• /
• v.42 no.1
• /
• pp.61-66
• /
• 2022

Hydraulic units are important components of agricultural and construction machinery, and thus require high-quality castings. However, gas defects occurring inside the sand cores of the castings due to the resin used is a problem. This study therefore aimed to develop a casting simulation method that can clarify the gas defect positions. Gas defects are thought to be caused by gas generated after the molten metal fills up the mold cavity. The gas constant is the most effective factor for simulating this gas generated from sand cores. It is calculated by gas generating temperature and analysis of composition in the inert gas atmosphere modified according to the mold filling conditions of molten metal. It is assumed that gases generated from the inside of castings remain if the following formula is established. [Time of occurrence of gas generation] + [Time of occurrence of gas floating] > [Time of occurrence of casting surface solidification] The possibility of gas defects is evaluated by the time of occurrence of gas generation and gas floating calculated using the gas constant. The residual position of generated gases is decided by the closed loops indicating the final solidification location in the casting simulation. The above procedure enables us to suggest suitable casting designs with zero gas defects, without the need to repeat casting tests.

• Nuclear Engineering and Technology
• /
• v.54 no.7
• /
• pp.2540-2549
• /
• 2022

For a pressurized water reactor power plant, the reactor coolant pump (RCP) is a kernel component. And for a canned motor RCP, the rotor system's properties determines its safety. The liquid coolant inside the canned motor RCP fills clearance between the metal shields of rotor and stator, forming a lengthy clearance flow. The influence of inlet preswirl on rotordynamic coefficients of clearance flow in canned motor RCP and their effects on the rotordynamic characteristics of the pump are numerically and experimentally investigated in this work. A quasi-steady state computational fluid dynamics (CFD) method has been used to investigate the influence of inlet preswirl. A vertical experiment rig has also been established for this purpose. Rotordynamic coefficients on different inlet preswirl ratios (IR) are obtained through CFD and experiment. Results show that the cross-coupled stiffness of the clearance flow would change significantly with inlet preswirl, but other rotordynamic coefficients would not change significantly with inlet preswirl. For the case of clearance flow between the stator and rotor cans, influence of inlet preswirl is not so significant as the IR is not large enough.

• Wind and Structures
• /
• v.34 no.6
• /
• pp.469-482
• /
• 2022

The generalized extreme value distribution (GEVD) is frequently used to fit the block maximum of environmental parameters such as the annual maximum wind speed. There are several methods for estimating the parameters of the GEV distribution, including the least-squares method (LSM). However, the application of the LSM with the expected order statistics has not been reported. This study fills this gap by proposing a fitting method based on the expected order statistics. The study also proposes a plotting position to approximate the expected order statistics; the proposed plotting position depends on the distribution shape parameter. The use of this approximation for distribution fitting is carried out. Simulation analysis results indicate that the developed fitting procedure based on the expected order statistics or its approximation for GEVD is effective for estimating the distribution parameters and quantiles. The values of the probability plotting correlation coefficient that may be used to test the distributional hypothesis are calculated and presented. The developed fitting method is applied to extreme thunderstorm and non-thunderstorm winds for several major cities in Canada. Also, the implication of using the GEVD and Gumbel distribution to model the extreme wind speed on the structural reliability is presented and elaborated.

• Journal of Sensor Science and Technology
• /
• v.30 no.6
• /
• pp.415-419
• /
• 2021

We developed a highly accurate, yet inexpensive, refractive index (RI)-based soil moisture sensor. To detect the RI, a light guide was set with a light-emitting diode and photodiode. When the air fills the space between the soil particles, most of the incident light is reflected at the interface between the waveguide and the air because of the large RI difference. As the moisture of the soil increases, the macroscopic soil RI increases. This allows incident light to pass through the interface. The intensity of the light reaching the photodiode was simulated according to the change in the soil RI. Using the simulation results, we designed and manufactured a curved glass waveguide. We evaluated the performance of the RI-based soil sensor by comparing it with a commercially available, high-cost and high-performance time-domain reflectometer (TDR). Our sensor was 96% accurate, surpassing the costly TDR sensor.

• The Journal of Asian Finance, Economics and Business
• /
• v.10 no.2
• /
• pp.247-256
• /
• 2023

Financial sectors, like other sectors with strict hierarchies, need help to be adaptive or agile enough to satisfy the needs of competitive situations. In this regard, this study aims to evaluate the influence of job satisfaction on the link between job empowerment practices and the agility of human resources and fills the gaps in the current literature. To fulfill these aims, the study employs data collected through a survey of 460 employees randomly selected across various levels of commercial banking. AMOS 25 was used to conduct a statistical data analysis by applying structural equation modelling to test the hypotheses. The findings revealed positive and direct associations between job empowerment practices, job satisfaction, and the agility of human resources. In addition, employee satisfaction served as a powerful intermediary between empowerment practices and the agility of human resources. This study is one of the first to analyze the association between these factors in this field. These results imply that banks should develop effective job empowerment strategies to increase employee job satisfaction, which can lead to a more agile workforce. As mentioned in this paper, it also has important and helpful implications for academics and banks.

• Korean Journal of Materials Research
• /
• v.32 no.4
• /
• pp.230-236
• /
• 2022

The formation behavior of a passive state film on the surface of STS304 in electrolytic solution was analyzed to determine its metallic ion composition. The properties of passive state films vary depending on the Fe and Cr ions in the electrolytic solution. It was observed that the passive state film surface became flat and glossy as the concentration of Fe and Cr ions in the electrolytic solution increased. The corrosion resistance property of the passive state film was proportional to the amount of Fe and Cr in the electrolytic solution. An initial passive state film with high Fe concentration was formed on the surface of STS304 during early electrolytic polishing. Osmotic pressure of Fe ions occurs between the passive state film and electrolytic solution due to the Fe ion concentration gradient. The Fe in the passive state film is dissolved into the electrolyte, and Cr fills up the Fe ion vacancies. As a result, a good corrosion-resistant floating film was formed. The more Fe ions in the electrolytic solution, the faster the film is formed, and as a result, a flat passive state film containing a large amount of Cr can be formed.

• Asia-Pacific Journal of Business
• /
• v.13 no.2
• /
• pp.107-122
• /
• 2022

Purpose - This study aims to develop machine learning models to predict administrative issue designation in KOSDAQ Market using financial data. Design/methodology/approach - Employing four classification techniques including logistic regression, support vector machine, random forest, and gradient boosting to a matched sample of five hundred and thirty-six firms over an eight-year period, the authors develop prediction models and explore the practicality of the models. Findings - The resulting four binary selection models reveal overall satisfactory classification performance in terms of various measures including AUC (area under the receiver operating characteristic curve), accuracy, F1-score, and top quartile lift, while the ensemble models (random forest and gradienct boosting) outperform the others in terms of most measures. Research implications or Originality - Although the assessment of administrative issue potential of firms is critical information to investors and financial institutions, detailed empirical investigation has lagged behind. The current research fills this gap in the literature by proposing parsimonious prediction models based on a few financial variables and validating the applicability of the models.