• Journal of Digital Convergence
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• v.16 no.5
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• pp.185-197
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• 2018

The purpose of this study is to analyze the Korean ETF market, which is experiencing a rapid increase in the number of stocks, to identify the degree of investment efficiency and to present investment directions. The methodology and procedure are ETF yield, change trends, correlation and regression analysis of the ETFs traded between 2010 and 2018. As a result, the total return of domestic ETFs was 3.51%, which was lower than the KOSPI growth rate and the return on equity ETFs was 4.03%, which was low. Leverage ETF yields were below 3%, which was low. The return on bond and currency ETFs was less than 1%. The most profitable ETFs were index ETFs, followed by domestic and leveraged ETFs. This study has contributed to establishing considerations when purchasing ETFs from the viewpoint of investors. Future research will present the direction of ETF investment more precisely.

• Journal of Korea Water Resources Association
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• v.38 no.12 s.161
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• pp.1029-1037
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• 2005

Urban Storm Sewer Optimal Design Model(USSOD) was developed to compute pipe capacity, pipe slope, crown elevation, excavation depth, risk and return cost in the condition of design discharge. Rational formula is adopted for design discharge and Manning's formula is used for pipe capacity. Discrete differential dynamic programming(DDDP) technique which is a kind of dynamic programming (DP) is used for optimization and first order second moment approximation method and uncertainty analysis is also for developing model. USSOD is applied to hypothetical drainage basin to test and verify. After testing the model, it is also applied to Ulsan drainage basin which was developed by Korea Land Cooperation(KOLAND). Comparing the design results of USSOD with those of KOLAND, discharge capacity 0.35 $m^3/sec$, the crown elevation is 0.77m higher and return cost is $9\%$ less than design results of KOLAND, which verify the improvement of USSOD. Layout design model using GIS and optimization including detention or retention effect are needed in the future study.

• Journal of the Korean Operations Research and Management Science Society
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• v.39 no.4
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• pp.33-49
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• 2014

This study empirically examines the impact of firms' environmental (E), social (S), and governancial (G) factors on their short-term and long-term values. To measure firms' non-financial performance, we use ESG performance grades published by KCGS (Korea Corporate Governance Service). We employ stock log return as the proxy of each firm's short-term value, and Tobin's Q ratio as that of its long-term value. From a series of regression analyses, we find each of the ESG factors generally has a negative impact on stock return while it has a positive impact on the Tobin's Q ratio. These results imply that firms' effort for enhancing their non-financial performance may adversely affect their financial performance in a short term; but in the long-term point of view, firms' values increase through their good images engraved by their respective social, environmental and governancial efforts. In addition, we compare the relative strength of impact among E, S, G, the three non-financial factors on the firms' value measured in Tobin's Q ratio, and find that S (social factor) and G (governancial factor) give statistically significant impact on the firms' value respectively. This result tells us it would be advised to strategically embed CSV (creating shared value) pursuing both of profits and social responsibility in the firms' future agenda. While E (environmental factor) is shown to be an insignificant factor for the firms' value, it should be emphasized as a major concern by all the stakeholders in order to form a sound business ecosystem.

• Journal of Digital Convergence
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• v.15 no.10
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• pp.193-199
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• 2017

The objective of this research is to investigate how consumers react differently to financial and social risk/return, referred to as an 'asymmetric effect'. A lab-based experiment using a counterfeit but real-branded product examined the robustness of the statement that priming the interdependent versus independent self can result in differences in financial and social risk taking behavior in the context of counterfeit product purchase choice. Three hundred fifty-eight participants took part in the experiment. They were primed with different self-construal and evaluated purchase intention to the counterfeit product. As predicted, when evaluate in the context of loss claim of counterfeit product, risks were more activated, however, there was an asymmetric effect that self-construal priming had on financial and social risks. Interdependence primed participants were more likely to take a financial risk thus perform more purchase intention of counterfeit product and less likely to take a social risk than their independence primed counterparts, which led to lower purchase intention. The results of this research shed light on the various directions of future studies on the responses toward counterfeit product.

• KDI Journal of Economic Policy
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• v.35 no.2
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• pp.133-166
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• 2013

This study analyzes the relationships between soft dollar(brokerage commission) and characteristics of funds, and between brokerage commission and return on funds, using the data on equity funds of Korea from June 2008 to November 2011. The result confirms a statistically significant negative relationship between management & sales fees and brokerage commission, meaning that rather than raising management & sales fees, which could be easily recognized by investors, it is through brokerage commission, a hidden cost, which asset management firms indirectly compensate for their services. Meanwhile, the analysis on the relationship between brokerage commission and return on funds reveals that higher brokerage commissions lead to lower return on funds, meaning at least in short-term no contribution to increasing returns in the future. These results suggest the need for streamlining the system to alleviate conflicts of interest between investors and management firms in addition to effectively controlling for principal-agent problems.

• Clinics in Shoulder and Elbow
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• v.23 no.2
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• pp.62-70
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• 2020

Background: Recent studies have reported high rates of recurrence of shoulder instability in patients with glenoid bone defects greater than 20% after capsulolabral reconstruction. The purpose of the present study was to evaluate the failure rate of arthroscopic capsulolabral reconstruction for the treatment of anterior instability in the presence of glenoid bone deficits >20%. Methods: Retrospective analyses were conducted among cases with anterior shoulder instability and glenoid bone defects of >20% that were treated by arthroscopic capsulolabral reconstruction with a minimum 2-year follow-up (30 cases). We included the following variables: age, bone defect size, instability severity index score (ISIS), on-/off-track assessment, incidence recurrent instability, and return to sports. Results: The mean glenoid bone defect size was 25.8%±4.2% (range, 20.4%-37.2%), and 18 cases (60%) had defects of >25%. Bony Bankart lesions were identified in 11 cases (36.7%). Eleven cases (36.7%) had ISIS scores >6 points and 21 cases (70%) had off-track lesions. No cases of recurrent instability were identified over a mean follow-up of 39.9 months (range, 24-86 months), but a sense of subluxation was reported by three patients. Return to sports at the preinjury level was possible in 24 cases (80%), and the average satisfaction rating was 92%. Conclusions: Arthroscopic soft tissue reconstruction was successful for treating anterior shoulder instability among patients with glenoid bone defects >20%, even enabling return to sports. Future studies should focus on determining the range of bone defect sizes that can be successfully managed by soft tissue repair.

• Journal of the Korea Society of Computer and Information
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• v.17 no.4
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• pp.147-153
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• 2012

This paper has investigated the impact of corporate donation expenditure which has recently drawn great attention in Korean society on businessl performance and conducted an empirical analysis on the causal relations. In addition, concurrent effect has been analyzed using cross-sectional data between two variables (corporate donation expenditure and business performance) while sequential effect has been examined using panel data. The result of this study can be summarized as follows: First, corporate donation expenditure had a positive impact on ROA and ROS. However, PER and ROE had no impact on corporate donation expenditure Second, cumulative effcet of corporate cash donation would have a bigger impact on short-term business performance than long-term performance. In the future, The results of this study is expect through cash donations in the social contribution to be more aggressive in carrying out social responsibilities.

• Journal of The Geomorphological Association of Korea
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• v.23 no.1
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• pp.87-101
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• 2016

This study was conducted to develop a hydrological model of catchment water balance which is able to estimate irrigation return flows, so BROOK90-K (Kongju National University) was developed as a result of the study. BROOK90-K consists of three main modules. The first module was designed to simulate water balance for reservoir and its catchment. The second and third module was designed to simulate hydrological processes in rice paddy fields located on lower watershed and lower watershed excluding rice paddy fields. The models consider behavior of floodgate manager for estimating the storage of reservoir, and modules for water balance in lower watershed reflects agricultural factors, such as irrigation period and, complex sources of water supply, as well as irrigation methods. In this study, the models were applied on Guryangcheon stream watershed. R2, Nash-Sutcliffe efficiency (NS), NS-log1p, and root mean square error between simulated and observed discharge were 0.79, 0.79, 0.69, and 4.27 mm/d respectively in the model calibration period (2001~2003). Furthermore, the model efficiencies were 0.91, 0.91, 0.73, and 2.38 mm/d respectively over the model validation period (2004~2006). In the future, the developed BROOK90-K is expected to be utilized for various modeling studies, such as the prediction of water demand, water quality environment analysis, and the development of algorithms for effective management of reservoir.

• Journal of Korean Society of Water and Wastewater
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• v.35 no.6
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• pp.389-403
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• 2021

In this study, dual drainage system based runoff model was established for W-drainage area in G-si, and considering the various rainfall characteristics determined using Huff and Mononobe methods, the degree of flooding in the target area was analyzed and the risk was compared and analyzed through the risk matrix method. As a result, the Monobe method compared to the Huff method was analyzed to be suitable analysis for flooding of recent heavy rain, and the validity of the dynamic risk assessment considering the weight of the occurrence probability as the return period was verified through the risk matrix-based analysis. However, since the definition and estimating criteria of the flood risk matrix proposed in this study are based on the return period for extreme rainfall and the depth of flooding according to the results of applying the dual drainage model, there is a limitation in that it is difficult to consider the main factors which are direct impact on inland flooding such as city maintenance and life protection functions. In the future, if various factors affecting inland flood damage are reflected in addition to the amount of flood damage, the flood risk matrix concept proposed in this study can be used as basic information for preparation and prevention of inland flooding, as well as it is judged that it can be considered as a major evaluation item in the selection of the priority management area for sewage maintenance for countermeasures against inland flooding.

• Asian-Australasian Journal of Animal Sciences
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• v.9 no.4
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• pp.411-420
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• 1996

Asia Triple HIn this study an attempt was made to determine the cost of producing fodders at Savar Dairy Farm (SDF). For this purpose, all seasonal fodders, such as Maize, Jowar, Cowpea and Oat and all perennial fodders, such as Para and Napier were studied. The highest acreage of land was allocated to high-land Para (33.8%) and the lowest acreage (2.7%) was devoted to Cowpea. Jowar attained the highest yield (74.2 tons) per hectare and Maize attained the lowest yield (25.8 tons/h). The highest cost per hectare was attributed to Jowar (TK. 20944.18) while the lowest cost was attributed to low-land para (TK. 10349.86). The cost of production of fodder per kilogram was the highest (TK. 0.66) for Maize and the lowest for Oat (TK. 0.24). The cost of production of low-land Para was much lower than that of high land Para. The per kilogram cost of silage production was the highest (TK. 0.71) for Maize and the lowest (TK. 0.31) was for Napier. The gross return analysis further showed that the highest net margin and B:C ratio were observed for Napier followed by Low-land Para, Jowar, Oat, Cowpea, High-land Para and Maize. Therefore, those fodders whose B:C ratios and yield/ha were higher should be allocated more area of land to stimulate increased returns to SDF in the future is suggested.