• Journal of Distribution Science
• /
• v.17 no.9
• /
• pp.117-125
• /
• 2019

Purpose - We investigate how to increase consumer incentives to buy public offering funds, resulting in activating the public offering fund market. In particular, this study aims to find ways to expand diversity and to improve efficiency of public offering fund. The public fund market of Korea has been stagnant in recent years. However, the public offering fund market plays a very significant role in terms of consumer welfare. Since only a few wealthy investors can participate in the private equity market, the stagnation in the public offering fund market usually reduces the opportunity of consumer's buying funds thus ultimately affecting their future wealth. Research design, data, and methodology - To attain our purpose, the 'factor-based portfolio strategy' has been considered. It is an alternative portfolio strategy, which composites the advantages of the passive management and active management. For our empirical anaylsis, we used global stock distribution market data over the period of 1991 and 2016. Then we constructed portfolios based on firm-size, firm-value, and momentum. Finally, a regression model was set, then hypotheses were tested, analyzing the performances. Results - First, among the 15 factor-based portfolios of global, Europe, Asia-Pacific(ex Japan), US and Japan, in eight portfolios, positive excess returns are observed at 5% significance level. Further, there is another portfolio with positive excess return at 10% significance level. Second, most of the portfolios with significant excess performance show positive relationship with the market portfolio. However, the firm-value based portfolio in Asia-Pacific region shows no relationship, and the firm-value based portfolio in US shows negative relationship. Third, we confirmed that the two firm-value factor portfolios in Asia-Pacific region and US, not having positive relationship with market portfolio, provide significant excess returns. Conclusions - In this paper, we provide empirical evidences supporting that the factor-based portfolios expand the diversity of funds and improve the efficiency of investment performance. However, there is no guarantee that the efficiency will continue in the future. In addition, various constraints and costs must be considered. Nevertheless, our novel findings in the advanced financial market such as US and Asia-Pacific are very interesting and offers important implications.

• Environmental Engineering Research
• /
• v.23 no.4
• /
• pp.474-484
• /
• 2018

The cleaning efficiency of reverse osmosis (RO) membranes inevitably fouled by organic foulants depends upon both chemical (type of cleaning agent, concentration of cleaning solution) and physical (cleaning time, flowrate, temperature) parameters. In attempting to determine the optimal procedures for chemical cleaning organic-fouled RO membranes, the design of experiments concept was employed to evaluate key factors and to predict the flux recovery rate (FRR) after chemical cleaning. From experimental results and based on the predicted FRR of cleaning obtained using the Central Composite Design of Minitab 17, a modified regression model equation was established to explain the chemical cleaning efficiency; the resultant regression coefficient ($R^2$) and adjusted $R^2$ were 83.95% and 76.82%, respectively. Then, using the optimized conditions of chemical cleaning derived from the response optimizer tool (cleaning with 0.68 wt% disodium ethylenediaminetetraacetic acid for 20 min at $20^{\circ}C$ with a flowrate of 409 mL/min), a flux recovery of 86.6% was expected. Overall, the results obtained by these experiments confirmed that the equation was adequate for predicting the chemical cleaning efficiency with regards to organic membrane fouling.

• Journal of Korea Water Resources Association
• /
• v.52 no.1
• /
• pp.61-70
• /
• 2019

The modified Kling-Gupta efficiency fusion method to merge actual evapotranspiration was proposed and compared with the simple Taylor skill's score method using Global Land Data Assimilation System (GLDAS), Global Land Evaporation Amsterdam Model (GLEAM), MODIS Global Evapotranspiration Project (MOD16), and the flux tower on three different land cover types over the Korean peninsula and China. In the results of the weights estimated from two actual evapotranspiration merging techniques (i.e., STS and KGF), the weights of reanalysis data (i.e, GLDAS and GLEAM) in cropland and grassland showed similar performance, while the results of weights are different according to the merging techniques in forest. Both two merging techniques showed better results than original dataset in grassland and forest. However, there were no improvement in cropland compared to the other land cover types. The results of the KGF method slightly improved compared to those of the STS in grassland and forest.

• Rapid Communication in Photoscience
• /
• v.3 no.1
• /
• pp.20-24
• /
• 2014

N-doped anatase $TiO_2$ nanoparticles were prepared by the sol-gel process followed by a hydrothermal treatment and successfully used as the photoanodes in organic dye-sensitized solar cells (DSSCs). As expected, the power conversion efficiency (PCE) of 8.44% was obtained for the NKX2677/HC-A-sensitized DSSC based on the 30 mol% N-doped $TiO_2$ photoanode, which was an improvement of 23% relative to that of the DSSC based on the NKX2677/DCA.

• Journal of the Korean Professional Engineers Association
• /
• v.45 no.5
• /
• pp.26-35
• /
• 2012

Korea is now the 12th largest economy in the world, surpassing its annual trade in the amount of $1 trillion, and it has joined the socalled 20-50 Club, becoming one of the seven countries in the world with capita income of more than $20,000 with population of 50 million. However it ranked 24th of the Global competitiveness index evaluated by World Economic Forum based on the basic requirements including infrastructures, efficiency enhances, innovation and sophistication factors, etc. The extensive and efficient SOC infrastructures are critical for ensuring the global competitiveness of each country. Effective modes of SOC facilities including quality roads, railroads, ports, air transport, etc will be able to reduce the annual traffic congestion cost as well as macro economic logistics costs in Korea, thereby the global competitiveness can be strengthened in the global market.

• 한국항공운항학회:학술대회논문집
• /
• 2007.12a
• /
• pp.9-12
• /
• 2007

• Journal of Ocean Engineering and Technology
• /
• v.33 no.3
• /
• pp.205-213
• /
• 2019

Recently, because of the global recession of the offshore plant industry and low-cost orders, there has been increasing interest in strengthening the competitiveness of domestic companies for the design and production technologies of offshore plants. However, in the offshore plant design field, the Plant Design Management System (PDMS), which is a 3D CAD program for plant layout developed by AVEVA Marine, is already commonly used as offshore plant design software and widely used in large domestic shipyards and cooperative design companies. Under this background, we have been thinking about ways to design better with the existing software. In this study, we developed a parametric design program to maximize the efficiency and reduce the working time for offshore plant electrical outfit production design based on the Programmable Macro Language (PML) of PDMS. We also examined its performance. By applying the developed program to the offshore plant module selected as an application example, it was confirmed that a 50% improvement in the work efficiency of cable tray design could be obtained compared with the existing method, with work efficiency improvements of 80% or more in other field design work.

• Fire Science and Engineering
• /
• v.24 no.6
• /
• pp.145-152
• /
• 2010

A study on combustion efficiency concept was conducted for the under-ventilated fires in a fullscale ISO 9705 room. In particular, a comparison between global combustion efficiency (CE) measured outside the compartment and local CE measured at upper layer inside the compartment was focused. Heptane, toluene and iso-propanol were used to consider the wide ranges of heat of combustion and soot yield. As a result, the global CE was decreased linearly with increasing in global equivalence ratio (GER). On the other hand, the decreasing rate of local CE was increased gradually with increasing in GER. From these results, it was known that the information on local CE was very useful parameter to understand the fire phenomena inside the compartment. In addition, it was discussed that the local CE might be used as an important parameter in the process of scaling for the compartment fires.

• Journal of Korea Port Economic Association
• /
• v.28 no.2
• /
• pp.113-128
• /
• 2012

By strengthening the market control and expanding the networks, providers of global logistics are expanding their service scope. Warehouses connects networks to between internal and external warehouses worldwide by using employees. The paper focuses on analyzing the efficiency of the top forty Global Logistics Providers. Therefore, the study classifies the factors which specify the efficiency of a total logistics industry and verified its firmness. Furthermore, the most recent published reports by Logistics Quarterly and Armstrong Association in 2012 was used in order to guarantee credibility of the study. For scope period for analysis, this study utilizes three years of materials, from 2007 to 2010. By applying the DEA Window model and Malmquist, the trend in efficiency and stableness was analyzed. Consequently, the main purpose of the paper is evaluating the efficiency. Also, analyzing its determinants and illustrating a long-term relationship between the annual turnover and the number of Industry Focus/Key Customers was used as output measures. In addition, the number of warehouses worldwide and employees worldwide, of Logistics Providers were used as input measures.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
• /
• 2022.06a
• /
• pp.198-200
• /
• 2022

With the expansion of the global supply chain, the efficiency of maritime logistics is considered a crucial factor for countries' trade and competitiveness. Nevertheless, prior research has not thoroughly evaluated the efficiency of maritime logistics, including countries' ports and shipping capacities. Accordingly, this study examines integrated maritime logistics efficiency at the national level using DEA-CCR, BCC, and super-efficiency DEA. Furthermore, this study identifies a difference between the selected countries' maritime logistics efficiency and LPI (Logistics Performance Index) through Spearman's correlation test as an ad-hoc analysis. From this, Asian countries showed higher efficiency and European countries showed higher LPI scores. These results might be derived from this difference in port-city development patterns. Additionally, the main cause of inefficiency in Europe and Japan might be attributed to high fleet capacity of control. Consequently, this study can provide valuable implications for coastal countries to set more efficient directions for maritime logistics investment and policy.