• Korean Architects
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• v.3 no.7 s.7
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• pp.42-50
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• 1968

The French government has adopted awideranging Social Housing policy. This architectural technical policy attempts to coordinate the efforts of building in the are asocial housing which are carried out by both government and privates organizations. This article examines the operations of the Social housing which are seen typified in several model projects.

• Asia-Pacific Journal of Business
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• v.12 no.3
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• pp.379-396
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• 2021

Purpose - The purpose of this paper is to study the rational payoff from the standpoint of foreign investors and the government when the government issues GDP-linked bonds to foreign investors. Design/methodology/approach - In this paper, the prices of 12 types of GDP-linked bond structures, which are classified according to the calculation cycle of the rate of change of linked GDP, the currency issued, and whether options are embedded, were evaluated. The Fama-French 3-factor model and the GMM-SDF model are used in the asset pricing model, and domestic and overseas investors used different basis assets. Findings - The KRW premium for US investors is estimated to be 43bp on a quarterly basis and 30bp on an annual basis, respectively, meaning that when the government issues bonds in KRW, the interest rate paid to US investors will be reduced by 30bp to 160bp (annually converted). Using the Fama-French 3 factor model, the KRW premium is the risk premium for the US market beta, meaning that if US investors do not intend to invest in US market beta, it is advantageous to receive an additional interest rate by investing in USD-denominated GDP-linked bonds. Korea's GDP- linked bond give US investors diversified investment utility, so they are willing to incorporate Korean GDP-linked bonds even if -150bp of interest is deducted from the structure issued to Korean investors. And as a result of estimating the value of the option through the GDP-linked bond with options that provides a floor for guaranteeing the principal, the value of the option linked to the annual GDP issued in dollars was the lowest. Research implications or Originality - Issuing dollar-denominated GDP-linked bonds linked to annual GDP with the option of guaranteeing the principal by the government is a way to increase investment opportunities for US investors and achieve financial stability of the government.

• Journal of Industrial Convergence
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• v.2 no.2
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• pp.127-147
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• 2004

This paper examines the time-series relations among expected return, risk, and book-to-market(B/M) at the portfolio level. The time-series analysis is a natural alternative to cross-sectional regressions. An alternative feature of the time-series regressions is that they focus on changes in expected returns, not on average returns. Using the time-series analysis, we can directly test whether the three-factor model explains time-varying expected returns better than the characteristic-based model. These results should help distinguish between the risk and mispricing stories. We find that B/M is strongly associated with changes in risk, as measured by the Fama and French(1993) three-factor model. After controlling for changes in risk, B/M contains little additional information about expected returns. The evidence suggests that the three-factor model explains time-varying expected returns better than the characteristic-based model.

• Journal of Digital Convergence
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• v.15 no.3
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• pp.55-64
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• 2017

This study identified the important categories and items about evaluation criteria of e-learning quality assurance by comparing evaluation criteria between Korea and France case. For deriving the conclusion, this research analyzed the Korea quality assurance case which is consist of success or failure for evaluation of quality assurance, and built the generic quality model of e-learning evaluation criteria. A generic model about evaluation criteria, categories, and item of e-learning quality assurance, which should be reflected on French quality criteria, were developed based on statistical approach. This research suggests a evaluation criteria which can be applied to African and Asian countries, that are related to AUF, as well as Korea. The result of this study can be applied to all organizations around the world which prepare for e-learning quality assurance, and at the same time it will be a valuable resource for companies or institutions which want to be evaluated e-learning quality assurance.

• International Journal of Railway
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• v.3 no.2
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• pp.73-82
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• 2010

Global and local behaviors of a lightly RC shear walls are investigated in this paper. For the sake of cyclic behaviors, nominal ground accelerations of 0.15 g, 0.40 g and 0.55 g which associated with natural periods of the walls are applied as listed in French CAMUS-2000 shake table test. Modified Kent & Park model, Drucker-Prager model for concrete material and $Giufr\acute{e}$-Menegotto-Pinto model for rebar are used for time history analyses using fiber/solids elements respectively. Alternatively, Eulerian beam analysis are discussed by imposing inelastic hinges at the most possible plastic hinge location using modified Takeda's trilinear model with stiffness reduction. Relative displacements, base shears, bending moments of 5-story shear building with 36-tons of mass under bi-lateral seismic excitation are extracted and compared with EC-8, PS-92 and KBC-09 provisions. Multi-scaled degradation process; material damage, elemental fracture and structural failure in turn is discussed in the view of numerical accuracy, efficiency and limitation depending on three different model-based analyses.

• Korean Business Review
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• v.16
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• pp.43-60
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• 2003

There are several stylized facts concerning stock return volatility. First, it is persistent, so an increase in current volatility lasts for many periods. Second, stock volatility increases after stock prices fall. Third, stock volatility is related to macroeconomic volatility, recessions, and banking crises. On the other hand, there are many competing parametric models to represent conditional heteroskedasticity of stock returns. For this article, I adopt the strategy followed by French, Schwert, and Stambaugh(1987) and Schwert(l989, 1990). The models in this article provide a more structured analysis of the time-series properties of stock market volatility. Briefly, these models remove autoregressive and seasonal effects from daily returns to estimate unexpected returns. Then the absolute values of the unexpected returns are used in an autoregressive model to predict stock volatility.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.7
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• pp.95-104
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• 2020

This study examines the effect of fintech on retail banks stock return listed in Indonesia Stock Exchange for the period of 2016-2018 as today's new technology lead to the emergence of fintech companies playing the same role as retail banks in the financial industry. This study is conducted quantitatively using monthly data from January 2016 to October 2018 and uses fintech as independent variable, proxied by fintech funding frequency and fintech funding value. Data transformation is conducted due to data volatility. The data of fintech funding, both frequency and value, is transformed into standardized fintech funding and growth of fintech funding. The data is obtained from Crunchbase, while the data of stock returns is obtained from Investing. This study further analyzes the data using Fama French Three-Factor Model and panel data regression. We found that fintech has no significant effect on retail banks' stock returns listed in Indonesia Stock Exchange for the period of 2016-2018. The findings of the study provide some useful insights in understanding fintech companies' current position to retail banks in Indonesia. This study also suggests banking institutions, fintech companies, policy-makers, and others to take advantageous steps in building inclusive financial sectors.

• Structural Engineering and Mechanics
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• v.31 no.4
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• pp.439-451
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• 2009

The paper deals with the problem related to the modelling of riveted assemblies for crashworthiness analysis of full-scale complete aircraft structures. Comparisons between experiments and standard FE computations on high-energy accidental situations onto aluminium riveted panels show that macroscopic plastic strains are not sufficiently localised in the FE shells connected to rivet elements. The main reason is related to the structural embrittlement caused by holes, which are currently not modelled. Consequently, standard displacement FE models do not succeed in initialising and propagating the rupture in sheet metal plates and along rivet rows as observed in the experiments. However, the literature survey show that it is possible to formulate super-elements featuring defects that both give accurate singular strain fields and are compatible with standard displacement finite elements. These super-elements can be related to the displacement model of the hybrid-Trefftz principle of the finite element method, which is a kind of domain decomposition method. A feature of hybrid-Trefftz finite elements is that they are mainly used for elastic computations. It is thus proposed to investigate the possibility of formulating a hybrid displacement finite element, including the effects of a hole, dedicated to crashworthiness analysis of full-scale aeronautic structures.

• Proceedings of the Computational Structural Engineering Institute Conference
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• 2004.10a
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• pp.68-75
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• 2004

In this paper a study on the reduction method of ground vibration by a french is carried out. The transmitted load into the ground which induces the ground vibration is computed through a study on the interaction between tilting car and the line. This load is applied into the numerical model which is one for a study on the reduction method of ground vibration by a trench. Then the numerical results is compared with the experimental results conducted in the previous study.

• Journal of Korean Library and Information Science Society
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• v.40 no.2
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• pp.87-110
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• 2009

This study examined and compared existing national library RFID data models, especially for Denmark, Finland, Netherlands, France, the U.S., Australia and South Korea. Four European country models(i.e., Danish, Finnish, Dutch, and French models) and South Korea use prescriptive data model(fixed encoding approach), while The U.S. and Australia adopt object-based data model, which is based on the data encoding rules of ISO/IEC 15962. This study expects to allow fertile ground for discussion on RFID data models in South Korean library environment.