• International Journal of Contents
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• v.5 no.1
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• pp.37-45
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• 2009

This paper empirically tests pecking order theory. Korean listed firms are used as the samples. On the whole we find supportive results for pecking order theory. The fixed effect model on the whole period shows that as pecking order theory suggests that debt ratio decreases as cash flow. ROA, physical assets, and firm size increase. Again, it is shown that corporate debt ratio significantly decreases as cash flow or ROA increases in every sub-sample, which coincides with the prediction of pecking order theory. Corporate debt ratio significantly decreases as physical assets or jinn size increases in case of the whole sample, pre-financial crisis period, and the sub-samples by q-ratio, which also supports the prediction of pecking order theory. Statistical significance of the coefficients of physical assets or firm size completely disappears after Korean financial crisis. Perhaps it is because the role of physical assets or firm size as a mitigator of information asymmetry significantly weakens after the financial crisis as Korean financial market becomes more transparent. For small firms only size variable is negatively and significantly related with debt to assets. It seems that size is an important factor for smaller firms in making financing decision.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.2
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• pp.157-168
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• 2020

Since the economic crisis sweeps across the world in 2008, the foreign direct investment of various countries has been greatly impacted. Therefore, this paper regards China as an example to analyze China's outward foreign direct investment patterns in terms of Asian financial markets with a panel data over the period 2003-2017. We mainly focus on the money market oriented outward foreign direct investment and foreign exchange market oriented outward foreign direct investment. Using the individual fixed effect model to conduct empirical analyses, the empirical findings indicate that China will reduce its foreign direct investment amount to a country with large money supply and China will increase its foreign direct investment amount to a country with large foreign exchange reserves. Furthermore, when a country has signed Free Trade Agreement with China, China will increase more foreign direct investment amount to these countries than that of a country who has not signed Free Trade Agreement with China. Moreover, the empirical findings indicate that no matter what the money market oriented outward foreign direct investment or foreign market oriented outward foreign direct investment, China will reduce its foreign direct investment amount to these Asian countries due to the global economic crisis.

• Journal of Preventive Medicine and Public Health
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• v.52 no.4
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• pp.234-241
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• 2019

Objectives: To identify simultaneous behavioral changes in alcohol consumption, smoking, and weight using a fixed-effect model and to characterize their associations with disease status. Methods: This study included 7 000 529 individuals who participated in the national biennial health-screening program every 2 years from 2009 to 2016 and were aged 40 or more. We reconstructed the data into an individual-level panel dataset with 4 waves. We used a fixed-effect model for smoking, heavy alcohol drinking, and overweight. The independent variables were sex, age, lifestyle factors, insurance contribution, employment status, and disease status. Results: Becoming a high-risk drinker and losing weight were associated with initiation or resumption of smoking. Initiation or resumption of smoking and weight gain were associated with non-high-risk drinkers becoming high-risk drinkers. Smoking cessation and becoming a high-risk drinker were associated with normal-weight participants becoming overweight. Participants with newly acquired diabetes mellitus, ischemic heart disease, stroke, and cancer tended to stop smoking, discontinue high-risk drinking, and return to a normal weight. Conclusions: These results obtained using a large-scale population-based database documented interactions among lifestyle factors over time.

• Journal of Preventive Medicine and Public Health
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• v.52 no.1
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• pp.21-29
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• 2019

Objectives: The Regional Cardiocerebrovascular Center (RCCVC) Project designated local teaching hospitals as RCCVCs, in order to improve patient outcomes of acute cardiocerebrovascular emergencies by founding a regional system that can adequately transfer and manage patients within 3 hours. We investigated the effects of RCCVC establishment on treatment volume and 30-day mortality. Methods: We constructed a panel dataset by extracting all acute myocardial infarction cases that occurred from 2007 to 2016 from the Health Insurance Review and Assessment Service claims data, a national and representative source. We then used a panel fixed-effect model to estimate the impacts of RCCVC establishment on patient outcomes. Results: We found that the number of cases of acute myocardial infarction that were treated increased chronologically, but when the time effect and other related covariates were controlled for, RCCVCs only significantly increased the number of treatment cases of female in large catchment areas. There was no statistically significant impact on 30-day mortality. Conclusions: The establishment of RCCVCs increased the number of treatment cases of female, without increasing the mortality rate. Therefore, the RCCVCs might have prevented potential untreated deaths by increasing the preparedness and capacity of hospitals to treat acute myocardial infarction patients.

• Structural Engineering and Mechanics
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• v.70 no.2
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• pp.221-231
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• 2019

This paper performs for the first time a simultaneous optimization for members sections along with semi-rigid beam-to-column connections for space steel frames with fixed, semi-rigid, and hinged bases using a biogeography-based optimization algorithm (BBO) and a genetic algorithm (GA). Furthermore, a member's sections optimization for a fully fixed space frame is carried out. A real and accurate simulation of semi-rigid connection behavior is considered in this study, where the semi-rigid base connections are simulated using Kanvinde and Grilli (2012) nonlinear model, which considers deformations in different base connection components under the applied loads, while beam-to-column connections are modeled using the familiar Frye and Morris (1975) nonlinear polynomial model. Moreover, the $P-{\Delta}$ effect and geometric nonlinearity are considered. AISC-LRFD (2016) specification constraints of the stress and displacement are considered as well as section size fitting constraints. The optimization is applied to two benchmark space frame examples to inspect the effect of semi-rigidity on frame weight and drift using BBO and GA algorithms.

• Earthquakes and Structures
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• v.7 no.3
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• pp.349-365
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• 2014

The dynamic response of structures under extremely short duration dynamic loads is of great concern nowadays. This paper investigates structures' response as well as the associated structural damage to explosive loads considering and ignoring the supporting soil flexibility effect. In the analysis, buildings are modeled by two alternate approaches namely, (1) building with fixed supports, (2) building with supports accounting for soil-flexibility. A lumped parameter model with spring-dashpot elements is incorporated at the base of the building model to simulate the horizontal and rotational movements of supporting soil. The soil flexibility for various shear wave velocities has been considered in the investigation. In addition, the influence of variation of lateral natural periods of building models on the obtained response and peak response time-histories besides damage indices has also been investigated under blast loads with different peak over static pressures. The Dynamic response is obtained by solving the governing equations of motion of the considered building model using a developed Matlab code based on the finite element toolbox CALFEM. The predicted results expressed in time-domain by the building model incorporating SSI effect are compared with the corresponding model results ignoring soil flexibility effect. The results show that the effect of surrounding soil medium leads to significant changes in the obtained dynamic response of the considered systems and hence cannot be simply ignored in damage assessment and response time-histories of structures where it increases response and amplifies damage of structures subjected to blast loads. Moreover, the numerical results provide an understanding of level of damage of structure through the computed damage indices.

• Korean Journal of Agricultural Science
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• v.37 no.3
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• pp.509-514
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• 2010

The purpose of this study is to analyze the technical efficiency and its determinants for Korean Apiculture farming by using from door to door and e-mail inquiry data. The analysis was implemented through the Cobb-Douglas stochastic frontier production function (SFPF) model including the technical inefficiency effect model for cross-sectional data. To measure the SFPF model, honey production was used for a dependent variable, and for input variables labor cost, preventive cost, material cost, feeding cost, depreciation cost were used. Farmer's age, farmer's career, farming scale, full-time or half-time firm and movement or fixed firm variables were used to measure the inefficiency effect model. The average technical efficiency on apiculture farming in Korea is estimated to be 0.8112. It means that there were technical inefficiency of about 18.88% in Korea apiculture farming. In this study there are some suggestions which could increase the technical efficiency of Korean apiculture farming.

• Journal of Technologic Dentistry
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• v.31 no.1
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• pp.7-15
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• 2009

Purpose: This study was to propose the clear understanding for stress distribution of supporting bone by use of staggered buccal offset tripodal placement of fixtures of posterior 3 crown implant partial dentures. We realized posterior 3 crown implant fixed partial dentures through finite element modeling and analysed stress effect of implant arrangement location to supporting bone under external load using finite element method. Method: To understand stress distribution of 3 crown implant fixed partial dentures which have 2 different arrangement by finite element analysis. In each model, for loading condition, we applied $45^{\circ}$ oblique load to occlusal surface of crown and applied 100 N for 3 crown individually(total 300 N) for imitating possible oral loading condition. at this time, we calculated Von Mises stress distribution in supporting bone through finite element method. Result: When apply $45^{\circ}$ oblique load to in-line arrangement model, maximum stress result for 100 N for each 3 crown 47.566MPa. In tripodal placement, result for 1mm buccal offset tripodal placement implant model was maximum distributed load 51.418MPa, so result was higher than in-line arrangement model. Conclusion: In stress distribution result by placement of implant fixture, the most effective structure was in-line arrangement. The tripodal placement does not effective for stress distribution, gap cause more damage to supporting bone.

• Industrial Engineering and Management Systems
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• v.7 no.3
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• pp.257-265
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• 2008

This paper deals with the joint decisions on pricing and ordering for a monopolistic retailer who sells perishable goods with a fixed lifetime or demand period. The newsvendor-typed problem is formulated as a two-period inventory system where the first period represents the inventory of fresh or new-arrival items and the second period represents the inventory of items that are older but still usable. Demand may be for either fresh items or for somewhat older items that exhibit physical decay or deterioration. The retailer is allowed to adjust the selling price of the deteriorated items in the second period, which stimulates demand and reduces excess season-end or stale inventory. This paper develops a stochastic dynamic programming model that solves the problem of preseason decisions on ordering-pricing and a within-season decision on markdown pricing. We also develop a fixed-price model as a benchmark against the dual-price dynamic model. To illustrate the effect of the dual-price policy on expected profit, we conduct a comparative study between the two models. Extension to a generalized multi-period model is also discussed.

• Journal of the Korean Association of Geographic Information Studies
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• v.21 no.1
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• pp.46-56
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• 2018

This paper aimed to identify main factors of community characters, which have an effect on the land surface temperature(LST) change and estimate the impacting coefficient(ratio) of factors in a significant level of statistics. Chungcheongbuk-do province was selected and then partitioned into city and county areas for the sake of convenience of modeling. LST time series data and the community character data were developed based on Terra Satellite MODIS data and collected from the National Statistical Office, respectively. By the cause and effect relationship between community characters and LST, regression coefficients were estimated using a penal model. In a panel modeling, LST and community characters were used as a dependent variable and explanatory variables, respectively. Panel modeling analysis was carried out using statistical package STATA14 and one-way fixed effect model was selected as the most suitable model to evaluate the regression coefficients in the study area. The impacting ratio of LST change by any explanatory variable derived from the regression coefficients of the panel model fixed. Impacting ratios for industrial areas, elevation ${\times}$ building, energy usage, average window speed, non-urban management area, agricultural, nature and environmental conservation, average precipitation were 3.746, 2.856, 2.742, 0.553, 0.102, 0.071 and 0.003, respectively.