• Journal of the Korean Society for Railway
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• v.10 no.5
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• pp.626-631
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• 2007

Technical requirements associated with derailment to ensure running safety of train are discussed. By using estimated derailment coefficient ratio, interaction of various parameters such as operation velocity, curve radius, cant, track irregularity, suspension stiffness and static wheel load ratio are analyzed to enhance derailment safety. Sensitivity analysis in terms of pattern and passage speed of curve is performed by using rolling stock and track conditions associated with SMRT Line No. 5.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.11
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• pp.303-314
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• 2020

This paper investigates the relationships between bank credit and trade credit with profit of 130 agricultural firms listed on Vietnam's stock exchanges during the period 2008-2014. Using the GMM approach, the paper reveals inverted-U shaped (∩) relationships between bank credit and trade credit with profit. Specifically, the optimal threshold of bank credit and trade credit to total assets of the firms are 0.4173 and 0.2425, respectively. The findings mean that if the ratio of bank credit to total assets exceeds the benchmark of 0.4173, firms should consider restructuring debts to get them back to the benchmark. To do so, firms should withdraw from those business fields that are not of their profession, in addition to liquiditizing unused assets to repay debts and not using short-term credit to invest in long-term projects. Firms may use trade credit wisely when other sources of finance are lacking. In concrete terms, firms can increase trade credit use if the ratio of trade credit to total assets is below 0.2425. Yet, if this ratio goes beyond this benchmark, firms should get back to this benchmark, e.g., keeping a suitable amount of inventory. The implications of this study is to boost firm growth in the proposed way.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.6
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• pp.297-302
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• 2022

The current study examines the relationship between inventory management efficiency and financial performance in Saudi Arabian companies. The study collected data from the companies listed on Tadawul (a Saudi Arabian stock exchange) during the period starting from 2016 and ending in 2020. The study uses pooled regression model by incorporating Return on Assets (ROA) and Inventory Turnover Ratio (ITR) as a performance measurement variable and inventory conversion period as an inventory management variable to report the results. The results show a positive and significant association between inventory management and firms' financial growth measured in terms of Return on Assets (ROA). Further, the study reports a positive and significant association between the inventory conversion period and inventory turnover (ITR). This shows that managing inventory efficiently shall positively impact the firm's performance. The other variables, such as debt ratio and gross profit, are positively related to ROA and negatively correlated with ITR. The firm growth is positively associated with both the dependent variables. The results suggest that the management of inventory in Saudi Arabian firms is efficient. Further, the firm size is positively associated with ROA and ITR. This shows a nexus between inventory management efficiency and firms' financial growth in Saudi Arabian companies.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.12
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• pp.377-384
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• 2020

Banking is very regulated by the government and even has to follow regulations issued by the Basel Committee on Banking Supervision, which regulates banking in the world. According to Basel III, banks must provide capital reserves called capital buffers. The purpose of this study is to examine the factors that determine capital buffer. Factors thought to affect the capital buffer studied consisted of profitability (ROA), credit risk (NPL), liquidity risk (LDR), capital adequacy in the previous period (CARt-1), management risk (NIM), and ratio of operating risk (OER). The population in this study is conventional banks listed on the Indonesia Stock Exchange, as many as 42 banks, with a sample of 40 banks taken by purposive sampling method with an observation period of four years with quarterly data (2016-2019). To test the hypotheses, regression panel data is used. After being tested, it turns out that the fixed effect model is better than the common effect and random effect. The results of the study with fixed effect models show that ROA, NPL, and OER significantly and negatively affect capital buffer. CAR_t-1 has a positive and significant effect on capital buffer, while LDR and NIM do not affect capital buffer.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.5
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• pp.305-311
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• 2022

The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is projected to provide several chances for Vietnam's banking industry to expand into the international market. This study examines the influence of foreign ownership on credit risk in Vietnamese commercial banks before the context of participation in the CPTPP. Using a sample of 28 commercial banks between 2009 and 2020, we find that foreign ownership has a negative relationship with bank credit risk. The regression methods used include the least-squares method, fixed-effects model, random effects model, and general least squares method. The research model adds interactive variables, which will help to reflect the role of intermediary factors more accurately such as listing on the stock market, capital ratio to the relationship between foreign ownership and bank credit risk. The test results reveal that increasing the foreign ownership ratio has a bigger impact on reducing credit risk for listed banks and banks with low capital than for other commercial banks. The government should flexibly adjust the foreign ownership ratio according to the capital size and role of each bank so that it can make good use of investment capital from abroad when Vietnam joins the CPTPP.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.3
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• pp.441-449
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• 2021

Bankruptcy is indicated by the inability of the company to meet its maturity obligations. The Covid-19 pandemic has had a terrible impact on the economy and businesses. The aim of this study to determine the effect of the ratios of activity, growth, leverage, and profitability in predicting bankruptcy projected by earnings per share (EPS). The sample of this research was non-banking financial sector companies listed on the Indonesia Stock Exchange in 2015-2019 and the purposive sampling technique was used. The data analysis method used was the logistic regression method to test the hypotheses. Company growth shows the company's ability to manage sales and generate high company profits, as such, the probability of the company experiencing bankruptcy will be lower. The results of this study showed that the debt to assets ratio (DAR), debt to equity ratio (DER), and return on assets (ROA) can predict bankruptcy. Meanwhile, this research found that the total assets turnover (TATO) ratio, sales growth, and net profit margin (NPM) cannot be used to predict bankruptcy.

• Research in Plant Disease
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• v.23 no.4
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• pp.355-362
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• 2017

The 4 viruses, the Apple chlorotic leaf spot virus (ACLSV), Apple stem pitting virus (ASPV), Apple stem grooving virus (ASGV), and Apple mosaic virus (ApMV) and 1 viroid, Apple scar skin viroid (ASSVd) are known major viral pathogens of apple trees in Korea. Infection degree of the 5 viral pathogens in the commercial nursery trees of major apple cultivars, 'Hongro', 'Fuji' and bud mutation of 'Fuji' was investigated. Infection ratio of the ACLSV, ASPV and ASGV for scion of an apple cultivar 'Hongro' were 100%, 81.3% and 100%, respectively. On the other hand, no infection for either ApMV and ASSVd detected. For the root stock of the cultivar, infection ratio of ACLSV, ASPV and ASGV showed 87.5%, 81.3% and 100% as well as ApMV and ASSVd were 12.5% and 6.3%, respectively. From the scion of apple cultivars 'Fuji' and bud mutation of 'Fuji', infection ratio of ACLSV, ASPV and ASGV showed 86.7%, 86.7% and 100%, respectively. Whereas, no infection for either ApMV or ASSVd detected. From the root stock of the cultivars, infection ratio of ACLSV, ASPV and ASGV showed 86.7%, 93.3% and 93.3% as well as ApMV and ASSVd were 12.5% and 6.3%, respectively. Result of our study indicates that most of commercial nursery apple trees were supplied with multiple infections by apple viruses causing potential losses for apple growers and, henceforth, agricultural policy for supply of the virus-free trees should be employed as soon as possible.

• KIEAE Journal
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• v.13 no.3
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• pp.71-78
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• 2013

A need for building energy efficiency is on the issue since energy demand in the building stock in Korea represents about 24% of the final energy consumption. As a way of improving the thermal performance of buildings for reducing maintenance costs and environmental conservation, a lot of effort is shown to improve the building energy efficiency by applying improvement of envelope insulation performance for buildings whose energy efficiency is low relatively through the remodeling. The windows of building envelopes are areas that lead to the biggest heat loss in the building. So windows are considered to be the primary target of energy efficiency in remodeling and various studies for windows have been done. Currently, however, only U-factor and airtightness of windows performance are regulated. Window wall ratio(WWR) and solar heat gain coefficient(SHGC) of windows are not considered when conducting the remodeling. In this study appropriate performance of windows(U-factor and SHGC) for existing residential is proposed according to the window wall ratio by using EnergyPlus. As the results of this study, the U-factor of windows representing the maximum energy savings is $1.0W/m^2K$ but in case of SHGC, the values that indicate the maximum energy savings are different depending on the window wall ratio. Therefore, when conducting the remodeling of windows, to determine energy efficiency by considering only the U-factor is inadequate so it is necessary that appropriate windows are applied to buildings by considering window wall ratio and windows properties(U-factor and SHGC).

• Korean Management Science Review
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• v.31 no.3
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• pp.1-12
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• 2014

This study suggests the two types DEA models such as DEA CCR model and Super Efficiency model to evaluate the value of a company and to apply them for the investments. 14 kinds of real data of companies such as EV/EBITDA, EPS growth rate, PCR, PER, dividend yield, PBR, stock price/net current asset, debt ratio, current ratio, ROE, operating margin, inventory turnover, accounts receivable turnover, and sales growth ratio were used as input variables of DEA models. 12 year data from December 30, 2000 up to December 30, 2012 were collected, and the data with negative, missing and 0 values were removed reflecting the characteristics of the DEA. In order to verify the effectiveness of the models, we compared the historical variability and rate of return of both models those of the market. Study results are as follows. First, two DEA models are more stable than market in terms of rate of return because the historical variability of both models are less than that of market. Second, Super Efficiency model is more stable than CCR model. Lastly, the cumulative rate of return of Super Efficiency model (434%) is greater than that of the CCR model (420%) and that of the market (269%).

• International Area Studies Review
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• v.14 no.3
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• pp.312-338
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• 2010

This paper investigates the value relevance of advertising activity over the period from 2001 to 2009 in the listed Korean stock markets(KOSPI and KOSDAQ). In addition, this paper divide all sample firm into several subsample, based on R&D intensity and export ratio in total sales. The empirical result of this paper shows following two evidence; First, advertising intensity, which proxies for advertising activity, is significantly related to firm value at the 1% level of significance. Second, advertising activity of high R&D intensity and high export ratio sample firms has more significant value relevance than for firms with low R&D intensity and low export ratio. The empirical results suggest that moderation effect of R&D intensity and export ratio are very important factor in determining the value relevance of advertising activity.