• The Journal of Asian Finance, Economics and Business
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• v.9 no.2
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• pp.81-92
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• 2022

The necessity for a theoretical explanation of the negative association between capital structure and company performance is identified in this study. By focusing on accounting metrics of business performance, this study is the first to investigate the moderating effects of firm size between these variables using logical reasoning. Due to the possibility of endogeneity, this study applies a two-step system GMM approach with data from 285 non-financial enterprises from PSX over a 21-year period. For robustness, we employed pooled OLS, fixed effect, and two-step difference GMM. Our data show that leverage has a detrimental impact on business performance, with size acting as a moderator in the same direction. Our analysis empirically supports some studies while refuting others due to inconsistent results in the literature, but no study has theoretically justified their negative link. We believe that because larger companies have more and easier access to capital markets, they focus primarily on the amount of return, even if the investment is inefficient in terms of the rate of return, but small businesses do not. As a result of this thinking, firm managers' performance suffers as a result of leverage.

• Journal of Digital Policy
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• v.2 no.1
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• pp.9-19
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• 2023

ESG is a kind of financial data that pays more attention to corporate environment, social responsibility and corporate governance. This study explores the relationship between ESG and corporate sustainable development through empirical analysis. This study uses the regression method of fixed effects to conduct empirical research on the data of China's A-share listed companies from 2015 to 2020. The research results show that: good ESG performance can promote the sustainable development of enterprises. At the same time, the higher the attention, the better the ESG performance can promote the sustainable development of enterprises. This study enriches the related research on ESG and has certain reference value for promoting the sustainable development of enterprises.

• Journal of Information Processing Systems
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• v.19 no.2
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• pp.149-163
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• 2023

Affected by external factors, errors in time series data collected by sensors are common. Using the traditional method of constraining the speed change rate to clean the errors can get good performance. However, they are only limited to the data of stable changing speed because of fixed constraint rules. Actually, data with uneven changing speed is common in practice. To solve this problem, an online cleaning algorithm for time series data based on dynamic speed change rate constraints is proposed in this paper. Since time series data usually changes periodically, we use the extreme learning machine to learn the law of speed changes from past data and predict the speed ranges that change over time to detect the data. In order to realize online data repair, a dual-window mechanism is proposed to transform the global optimal into the local optimal, and the traditional minimum change principle and median theorem are applied in the selection of the repair strategy. Aiming at the problem that the repair method based on the minimum change principle cannot correct consecutive abnormal points, through quantitative analysis, it is believed that the repair strategy should be the boundary of the repair candidate set. The experimental results obtained on the dataset show that the method proposed in this paper can get a better repair effect.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.46 no.2
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• pp.143-151
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• 2023

Expanding exports of small and medium-sized companies is crucial for the continuous growth of the Korean economy. Therefore, the government operates various support systems to enhance the export capabilities of these companies. This study aims to analyze the impact of the Korean government's flagship export support system, known as the export initiation support system, on the performance of participating domestic companies. A fixed effect model using panel data was applied to examine the characteristics of 11,099 companies that participated in the export initiation support system from 2016 to 2019. The analysis revealed that the number of exporting countries, employees, and previous export volume had a significant impact on the export amount of participating companies. However, contrary to expectations, the number of overseas marketing participation and the GCL (global competence level) test did not show a significant impact. This study is significant as it provides implications for the development of support projects tailored to the specific needs of small and medium-sized companies, with the goal of improving the export support system.

• Structural Engineering and Mechanics
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• v.84 no.4
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• pp.517-530
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• 2022

In re-assessing the Jacket-type fixed steel structures, the current standards often allow the simplicity of corrosion sections using local buckling or equivalent section approach to applying empirical formulae of frame stress and resistance analyses. However, those approaches can lead to significant errors for non-uniform corroded frames in a specific area, including force distribution, stress, and allowable strength of the tubular section, compared to the actual cases. This paper investigates a suitable approach to determine the actual stress on non-uniform corroded tubular frames under compression through the non-linear ABAQUS model by considering the effect of large deformation on the frame axis and the frame section. There are 3 scenarios of interest. In the 1st and 2nd scenarios with simple corrosion cases, the stress ratios using the numerical model and theoretical formulae correspond to the calculation of allowable strength reduction ratios in standards. However, scenario 3, which describes non-uniform corroded sections based on survey data, provides considerable differences in results. Therefore, it proves the reliable and effective results when using this method to analyze the resistance of the actual corroded section in the Jacket platforms.

• Korea Trade Review
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• v.47 no.4
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• pp.233-254
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• 2022

Although there is growing literature evidence of linkages between global value chains (GVCs) and foreign direct investment (FDI), the results are mixed and ambiguous by geographic dimension, time period and sectoral scope. Moreover, bilateral approaches on these connections have been rarely analyzed. In this context, we investigate the effect of bilateral greenfield FDI and cross-border M&A on GVC linkages between host countries and source countries. We match three-year averages of bilateral FDI and UNCTAD-Eora GVC value-added data from 2005 to 2019 between 37 OECD sources and 176 host countries (37 OECD versus 139 non-OECD countries). In the structural gravity model, the empirical specification includes bilateral and country-period fixed effects and uses a Poisson Pseudo-Maximum Likelihood (PPML) estimator. We find that greenfield and M&A FDI promote forward and backward GVC linkage for all sectors between OECD countries, whereas greenfield FDI promotes backward GVC linkage between OECD and non-OECD countries. In addition, the results indicate that the degree of influence of GVCs by FDI flows is greater for forward GVC than backward GVC among OECD countries.

• Steel and Composite Structures
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• v.49 no.2
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• pp.181-196
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• 2023

Marine structures including offshore wind turbines (OWTs) always work under cyclic loads, which arouses much attention on the fatigue design. The tripod substructure is one of the typical foundation forms for fixed OWTs. The three-planar tubular Y-joint (3Y joint) is one of the important components in fatigue design as it is most likely to have cracks. With the existence of the multiplanar interaction effect, calculating the hot spot stress (HSS) of 3Y joints is complicated. To assist with fatigue design, the distributions of stress concentration factor (SCF) and multiplanar interaction factor (MIF) along weld toe curves induced by the out-of-plane bending moment are explored in this study. An FE analysis method was first developed and verified against experimental results. This method was applied to build a numerical database including 1920 FE models covering common ranges of geometric parameters. A parametric study has been carried out to reveal the distribution patterns of SCF and MIF. After multidimensional nonlinear fittings, SCF and MIF distribution formulas have been proposed. Accuracy and reliability checking prove that the proposed formulas are suitable for calculating the HSS of 3Y joints.

• Nuclear Engineering and Technology
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• v.55 no.11
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• pp.4252-4265
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• 2023

In the case of nuclear power plants near end of their design life, a reassessment of the performance of safetyrelated equipment may be necessary to determine whether to shut down or extend the operation of the power plant. Therefore, it is necessary to evaluate the level of performance decline due to degradation. Electrical cabinets, including MCC and switchgear, are representative safety-related equipment. Several studies have assessed the degradation and seismic performance of nuclear power plant equipment. Most of those researches are limited to individual components due to the size of safety-related equipment and test equipment. However, only a few studies assessed the degradation performance of electrical cabinets. The equipment of various nuclear power plants is anchored to concrete foundations, and crack in concrete foundations is one of the most representative of degradation that could be visually confirmed. However, it is difficult to find a study for analysis through testing the effect of cracks in concrete foundations on the response of electrical cabinet internal equipment fixed by anchors. In this study, using a simple cabinet model considering cast-in-place anchor in uncracked and cracked concretes, a tri-axial shaking table tests were performed and the seismic behavior were observed.

• Asian Pacific Journal of Cancer Prevention
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• v.15 no.11
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• pp.4449-4454
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• 2014

Aim: Helicobacter pylori (H. pylori) have been considered as a risk factor for many cancers. We conducted this meta-analysis to clarify the association between H. pylori infection and the risk of pancreatic cancer. Methods: We searched the Medicine/Pubmed and Embase databases, studies about the association between H. pylori infection and pancreatic cancer published up to Jan.2014 were included. Finally, a total of 9 studies were used for this a meta-analysis. The odds ratios (ORs) and 95% confidence interval (95%CI) of H. pylori infection on pancreatic cancer with respect to control groups were evaluated. Two authors independently assessed the methodological quality and extracted data. This meta-analysis was conducted using software, state (version 12.0) to investigate heterogeneity among individual studies and to summarize the studies. Using the fixed-effects or random-effects model, depending on the absence or presence of significant heterogeneity. Sensitivity analysis was performed to assess the influence of each individual study on the pooled ORs by omitting a single study each time. Publication bias was evaluated by funnel plot, using Egger's and Begg's tests. Results: There was no significant association between H. pylori infection and pancreatic cancer risk in the summary ORs,(OR=1.06, 95%CI: 0.74-1.37) through the random-effect method, but heterogeneity among studies was significant ($I^2$=58.9%), so we put the studies into two subgraphs (eastern and western). The results about western (OR=1.14 95%CI:0.89, 1.40) showed heterogeneity among the western countries of $I^2$=6.6%, with no significant association between Hp+ and pancreatic cancer, but the eastern countries (OR=0.62, 95%CI:0.49, 0.76), $I^2$=0, suggested that decreasing pancreas-cancer risk in subjects with Hp+ infection. Simultaneously, 7 studies examined CagA+ strains was (OR=0.84 95%CI:0.63, 1.04), $I^2$=36% with the random-effect method, subgraphs indicated that CagA+ could decrease the risk of pancreatic cancer in the eastern subjects (OR=0.66, 95%CI:0.52-0.80), but the association was not statistically significant in the western subjects (OR=0.95, 95%CI:0.73, 1.16). Conclusion: Hp+ and CagA+ infection are associated with a decreased risk of pancreatic cancer in eastern populations but have no significant associations in western countries.

• Journal of Korean Society of Transportation
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• v.30 no.1
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• pp.103-112
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• 2012

This research introduces a trip generation model reflecting time-series effects derived from a panel analysis with the data collected from the national household trip surveys conducted in 1996, 2002 and 2006. The existing methods are unable to reflect time-series effects from the change of socioeconomic conditions because the parameters applied to the model were basically from the base year of study - the parameter values were unchanged. This study proposes a new trip generation model developed through a panel analysis performed with the data collected from the last three national household trip surveys. From the results, it was found that the number of school trips increases and that the number of shopping trips decreases as time passes. The results showed that there are time-series effects affecting in trip generation.