• 산업융합연구
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• 제20권2호
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• pp.11-19
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• 2022

본 연구에서는 국내 주식시장에서 경제적 불확실성이 주식가격 결정에 어떠한 역할을 하는지 살펴보았다. 이를 위해 2000년 1월부터 2017년까지 우리나라의 비금융기업을 대상으로 국내외(미국, 중국)의 경제적 불확실성 지표와 주식수익률의 관련성을 분석하였다. 분석모형은 Fama and French(1992)의 3요인 모형과 모멘텀, 유동성을 포함한 5요인모형을 이용하였다. 분석결과 경제적 불확실성의 베타가 낮은 포트폴리오보다 높은 포트폴리오의 주식수익률이 높게 나타났다. 이는 미국의 분석 결과와도 동일하였다. 또한 한국의 경제적 불확실성 지수를 통한 분석 회귀분석 결과보다 미국의 불확실성 지수를 이용한 분석 결과가 더욱 유의하게 나타났다.

• 비교문화연구
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• 제19권
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• pp.205-232
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• 2010

The purpose of this paper is to examine the possibility of application of some French and German movies to teaching of multi-culture in elementary, middle and high schools. Three different films are selected. (2005), a French animation film directed by B?n?dicte Galup and Michel Ocelot, is appropriate for the education of understanding cultural relativity and improving multi-cultural sensitivity in elementary school. is a French short film directed by Walter Salles and Daniela Thomaso and included in omnibus style film (2006). This short film relating a story of an immigrated woman who leaves her baby in a cr?che and travels through Paris to work for a bourgeois mother can be used for developing a bond of sympathy between natives and immigrants. It is recommended for the class of junior high school. Finally (2007), a German film directed by Fatih Akin, provide a learning model for the education of multi-culture in high school classrooms. The cinematographic aesthetic of this film is focused on a process of reconciliation with others over the cultural, racial, national and generational differences. Analyzing the structure of the film and being guided by teachers the students can understand better in improving abilities to understand others.

• 한국감성과학회:학술대회논문집
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• 한국감성과학회 2007년도 춘계학술대회 및 국제감성 심포지엄
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• pp.157-160
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• 2007

Based on Nisbett and his colleagues' theoretical model "Holistic" and "Analytic" which show the differences in cognitive style of Eastern Asian and Westerners, the author hypothesized that the differences in cognitive style of people from diverse cultural backgrounds may influence their perception and usage of webpage. An experiment was carried out and the Eye-gaze device was used to assist to explore the relationship. The results revealed the relationship between cognitive style and webpage design. different cognitive style results different viewing pattern on webpage. Chinese people are more likely to have a holistic view of the whole page first and then focus on detail, while French people tend to read the heading information first and then proceeding down the page. Chinese emphasized the background as well as the whole look and feel of the webpage more, while French noticed the independent contents and element designs more on the webpage.

• Nuclear Engineering and Technology
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• 제54권2호
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• pp.589-600
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• 2022

Investigations on the molten-pool sloshing behavior are of essential value for improving nuclear safety evaluation of Core Disruptive Accidents (CDA) that would be possibly encountered for Sodium-cooled Fast Reactors (SFR). This paper is aimed at synthesizing the knowledge from our recent studies on molten-pool sloshing behavior with solid particles conducted at the Sun Yat-sen University. To better visualize and clarify the mechanism and characteristics of sloshing induced by local Fuel-Coolant Interaction (FCI), experiments were performed with various parameters by injecting nitrogen gas into a 2-dimensional liquid pool with accumulated solid particles. It was confirmed that under different particle-bed conditions, three representative flow regimes (i.e. the bubble-impulsion dominant, transitional and bed-inertia dominant regimes) are identifiable. Aimed at predicting the regime transitions during sloshing process, a predictive empirical model along with a regime map was proposed on the basis of experiments using single-sized spherical solid particles, and then was extended for covering more complex particle conditions (e.g. non-spherical, mixed-sized and mixed-density spherical particle conditions). To obtain more comprehensive understandings and verify the applicability and reliability of the predictive model under more realistic conditions (e.g. large-scale 3-dimensional condition), further experimental and modeling studies are also being prepared under other more complicated actual conditions.

• 아태비즈니스연구
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• 제15권1호
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• pp.1-14
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• 2024

Purpose - We investigate whether a potential missing pricing factor plays a significant role in the idiosyncratic volatility puzzle. Design/methodology/approach - We theoretically show how a missing pricing factor can affect the idiosyncratic volatility puzzle, and also show how to get around the problem empirically. We adopt the Fama-French five factor model for the estimation of the idiosyncratic risk and use randomly constructed portfolios as test assets. Findings - We find that a missing factor does not drive the idiosyncratic volatility puzzle. Thus, we conclude that the idiosyncratic volatility does affect the risk premium of its stock. Research implications or Originality - The Fama-French five factor model does a pretty good job in explaining the risk premiums of stocks, and it can be used to reliably estimate idiosyncratic risk of stocks.

• The Journal of Asian Finance, Economics and Business
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• 제7권12호
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• pp.615-626
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• 2020

The purpose of this study is to analyze the determinants of risk factor model for the Jordanian banking stocks from 2006 to 2018. This study employs the Five-factor Fama and French's (2015) methodology and uses the annual returns of all Jordanian banks including 2 Islamic and 13 commercial banks listed on the Amman Stock Exchange (ASE) over a period of 13 years. The results show that the factors of value and profitability have an important role in evaluating the expected return in Jordanian banking stocks. Moreover, the value HML and profitability RMW factors provide the highest cumulative returns among these five factors, while the investment CMA and size SMB factors are still around zero cumulative returns. For the market factor, it provides the least negative cumulative returns. The results showed that the largest correlation is between value and investment factors which means that banks with a high book to market value become banks with a conservative investment strategy. The result of the sub-periods confirmed the value and profitability results. The findings of this study suggest that the five-factor Fama and French model is the choice of building an investment portfolio, especially the factors of value and profitability.

• International Journal of Aeronautical and Space Sciences
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• 제18권4호
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• pp.688-696
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• 2017

This paper presents an integrated roll-pitch-yaw autopilot using an equivalent based sliding mode control for skid-to-turn nonlinear time-varying missile system with lumped disturbances in its six-equations of motion. The considered missile model are developed to integrate the model uncertainties, external disturbances, and parameters perturbation as lumped disturbances. Moreover, it considers the coupling effect between channels, the variation of missile velocity and parameters, and the aerodynamics nonlinearity. The presented approach is employed to achieve a good tracking performance with robustness in all missile channels simultaneously during the entire flight envelope without demand of accurate modeling or output derivative to avoid the noise existence in the real missile system. The proposed autopilot consisting of a two-loop structure, controls pitch and yaw accelerations, and stabilizes the roll angle simultaneously. The Closed loop stability is studied. Numerical simulation is provided to evaluate performance of the suggested autopilot and to compare it with an existing autopilot in the literature concerning the robustness against the lumped disturbances, and the aforesaid considerations. Finally, the proposed autopilot is integrated in a six degree of freedom flight simulation model to evaluate it with several target scenarios, and the results are shown.

• 한국연소학회:학술대회논문집
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• 한국연소학회 2002년도 제24회 KOSCO SYMPOSIUM 논문집
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• pp.123-132
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• 2002

A numerical study was conducted to investigate the combustion phenomena of normal start and unstart processes based on ISL's RAMAC 30 experiments with different diluent amounts and fill pressures in a ram accelerator. The initial projectile launching speed was 1.8 km/s which corresponded to the superdetonative speed of the stoichiometric $H_2/O_2$ mixture diluted with 5 $CO_2$ or 4 $CO_2$. Experiments with same condition except for projectile surface material demonstrated that ignition was successful with an aluminum projectile, but no combustion was observed in case of a steel projectile. In this study, it was found that neither shock nor viscous heating was sufficient to ignite the mixture at a low speed of 1.8 km/s, as was found in the experiments using a steel projectile. However, we could succeed in igniting the mixtures by imposing a minimal amount of additional heat to the combustor section and simulate the normal start and unstart processes found in the experiments with an aluminum projectile. For the numerical simulation of supersonic combustion, multi-species Navier-Stokes equations coupled with a Baldwin-Lomax turbulence model and detailed chemistry reaction equations of $H_2/O_2/CO_2$ suitable for high-pressure gaseous combustion were considered. The governing equations were discretized by a high order accurate upwind scheme and solved in a fully coupled manner with a fully implicit, time accurate integration method. The numerical results matched almost exactly to the experimental results. As a result, it was found that the normal start and unstart processes depended on the strength of gas mixture, development of shock-induced combustion wave stabilized by the first separation bubble, and its size and location.

• 셀메드
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• 제10권1호
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• pp.3.1-3.4
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• 2020

Spirituality is the dynamic and inherent dimension of humanity. This study aimsto evaluate the relationship between Spiritual Health, Mindfulness and Emotion Regulation among French Emerging Adults. An online cross-sectional survey design consisted of four hundred and twenty-one samples were recruited from different universities at Strasbourg, France. Participant's age ranged from 18 to 28 years with a mean age of 20.77 years (SD=2.22). The results, highlights that Spiritual Health Measure was significant and positive association with Mindfulness (r=.45, p < .01) and Reappraisal (r=.22, p < .01). Further, the significant negative correlation observed with Spiritual Dissonance (r=.44, p < .01) and Suppression (r=.24, p < .01). These findings support emerging literature on Spiritual Health. Future studies should evolve an intervention model to promote Spiritual Health and Positive Health.

• 재무관리연구
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• 제14권2호
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• pp.21-55
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• 1997

본 연구는 기업규모, 장부가치/시장가치 비율, 순이익/주가 비율, 현금흐름/주가 비율, 레버리지 등 기본적 변수를 사용하여 주식수익률에 유의적인 변수를 확인하고, 또한 Fama and French(1993) 등에 의해서 제시된 다요인모형(multi-factor model)이 한국주식시장에서 적용가능한 지를 살펴보았다. 이를 위하여 본 연구에서는 Fama and MacBeth(1973)의 횡단면회귀모형과 Black, Jensen, and Scholes (1972)의 시계열모형을 사용하였으며, 실증분석결과를 요약하면 다음과 같다. 먼저 횡단면분석결과에 의하면, 장부가치/시장가치 비율(BE/ME), 현금흐름/주가 비율(C/P) 등이 주식수익률의 횡단면적 차이를 설명할 수 있는 유의적인 변수로 나타났다. 그리고 통계적 의미에서는 1월효과가 존재한다고 보기 어려우나, 경제적 의미에서 1월효과가 존재하는 것으로 생각된다. 시계열분석결과에 의하면, 시장요인, 기업규모요인, 장부가치/시장가치요인(또는 현금흐름/주가요인) 등의 3요인에 의해서 국내 주식수익률의 공통적 변동을 잘 설명할 수 있다. 즉 국내 증권시장에서도 Fama and French(1993)의 3요인모형이 성립될 수 있는 것으로 판단된다.