• Journal of Digital Convergence
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• v.20 no.1
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• pp.41-46
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• 2022

Chinese stock market often rises and falls sharply. The impact of the stock price crash risk has become a hot research field to maintain financial stability. This study starts from the perspective of the proportion of largest shareholders holding shares, and studies whether largest shareholders have more incentive to supervise management and reduce self-interest behavior of management. We use the data of Chinese listed companies from 2009 to 2019 as a sample, and study the relationship between largest shareholders and share price crash risk. Empirical research shows that the higher the proportion of largest shareholders of state-owned enterprise, the company's stock price crash risk can be significantly reduced. This study suggests that the higher the share of the largest shareholder, the lower the opportunistic behavior of managers and that information asymmetry between the company and the shareholders can be alleviated.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2020.06a
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• pp.148-149
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• 2020

Currently, the most commonly used EPS insulation material has been mainly used because its ease of adhesion with concrete. However, due to poor adhesion with wallpaper, separate adhesion needs to be strengthened and there are cases of breakage or grooves in the process of dismantling the mold. The biggest problem is that when a fire breaks out, various harmful substances are present and highly flammable. Cork used in this study is a truly eco-friendly building material that is taken from between the outer and inner bark of cork trees and does not damage the wood. Also, it is a porous material that is made up of countless cells and contains an air gap between the cells. It is very light in weight between 0.06 and 0.07 and has excellent insulation with a heat conductivity of 0.04W/mK. In addition, it has high stability in the topic of conversation because it does not produce harmful gas when burned and has self-sustaining properties. However, research on cork, an eco-friendly building material with excellent performance to date, is scarce Therefore, we encourage existing scholars to raise interest in new eco-friendly building materials through this study. It also aims to manufacture insulation boards with new inorganic properties using the low weight and heat conductivity held by the cork.

• Proceedings of the Korea Water Resources Association Conference
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• 2021.06a
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• pp.131-131
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• 2021

Deep learning models, especially those based on long short-term memory (LSTM), have presented their superiority in addressing time series data issues recently. This study aims to comprehensively evaluate the performance of deep learning models that belong to the supervised learning category in streamflow prediction. Therefore, six deep learning models-standard LSTM, standard gated recurrent unit (GRU), stacked LSTM, bidirectional LSTM (BiLSTM), feed-forward neural network (FFNN), and convolutional neural network (CNN) models-were of interest in this study. The Red River system, one of the largest river basins in Vietnam, was adopted as a case study. In addition, deep learning models were designed to forecast flowrate for one- and two-day ahead at Son Tay hydrological station on the Red River using a series of observed flowrate data at seven hydrological stations on three major river branches of the Red River system-Thao River, Da River, and Lo River-as the input data for training, validation, and testing. The comparison results have indicated that the four LSTM-based models exhibit significantly better performance and maintain stability than the FFNN and CNN models. Moreover, LSTM-based models may reach impressive predictions even in the presence of upstream reservoirs and dams. In the case of the stacked LSTM and BiLSTM models, the complexity of these models is not accompanied by performance improvement because their respective performance is not higher than the two standard models (LSTM and GRU). As a result, we realized that in the context of hydrological forecasting problems, simple architectural models such as LSTM and GRU (with one hidden layer) are sufficient to produce highly reliable forecasts while minimizing computation time because of the sequential data nature.

• Journal of Korean Society for Quality Management
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• v.51 no.2
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• pp.171-184
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• 2023

Purpose: First, this paper suggests an alternative approach to find optimal portfolio (stocks, bonds and ESG stocks) under the maximizing utility of investors. Second, we include ESG stocks in our optimal portfolio, and compare improvement of welfares in the case with and without ESG stocks in portfolio. Methods: Our main method of analysis follows Brennan et al(2002), designed under the continuous time framework. We assume that the dynamics of stock price follow the Geometric Brownian Motion (GBM) while the short rate have the Vasicek model. For the utility function of investors, we use the Power Utility Function, which commonly used in financial studies. The optimal portfolio and welfares are derived in the partial equilibrium. The parameters are estimated by using Kalman filter and ordinary least square method. Results: During the overall analysis period, the portfolio including ESG, did not show clear welfare improvement. In 2017, it has slightly exceeded this benchmark 1, showing the possibility of improvement, but the ESG stocks we selected have not strongly shown statistically significant welfare improvement results. This paper showed that the factors affecting optimal asset allocation and welfare improvement were different each other. We also found that the proportion of optimal asset allocation was affected by factors such as asset return, volatility, and inverse correlation between stocks and bonds, similar to traditional financial theory. Conclusion: The portfolio with ESG investment did not show significant results in welfare improvement is due to that 1) the KRX ESG Leaders 150 selected in our study is an index based on ESG integrated scores, which are designed to affect stability rather than profitability. And 2) Korea has a short history of ESG investment. During the limited analysis period, the performance of stock-related assets was inferior to bond assets at the time of the interest rate drop.

• Transactions of the Korean hydrogen and new energy society
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• v.34 no.6
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• pp.581-586
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• 2023

As the development of alternative energy is required due to the depletion of fossil fuels, interest in the use of hydrogen energy is increasing. Hydrogen is a promising clean energy source with high energy density and can lead to the application of environmentally friendly technologies. However, due to difficulties in production, storage, and transportation that prevent the application of hydrogen-based eco-friendly technology, research on reforming reactions using dimethyl ether (DME) is being conducted. Unlike other hydrocarbons, DME is attracting attention as a hydrogen carrier because it has excellent storage stability and transportability, and there is no C-C bond in the molecule. The reaction between DME and steam is one of the reforming processes with the highest hydrogen yield in theory at a temperature lower than that of other hydrocarbons. In this study, a hydrogen reforming device using DME was developed and a catalyst prepared by supporting Cu in alumina was put into a reactor to find optimal hydrogen production conditions for supplying hydrogen to fuel cells while changing reaction temperature (300-500℃), pressure (5-10 bar), and steam/carbon ratio (3:1 to 5:1).

• The Journal of Korean Academy of Prosthodontics
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• v.47 no.1
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• pp.82-90
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• 2009

Statement of problem: Recently, as patients' expectation and interest for esthetics are increasing, concerns of esthetic restoration for removable dentures as well as fixed prosthodontics are also increasing. And the color stability of artificial teeth will affect a long term success rate of the denture. But the stain or discoloration of these artificial teeth as well as denture resin has caused esthetic problem. Purpose: This study was designed to evaluate the influence on color stability of artificial teeth when soy sauce, red pepper paste and coffee which many Koreans have eaten were applied. Material and methods: For artificial teeth type(Endura $Anterio^{(R)}$, Physio $Duracross^{(R)}$, Trubyte $Biotone^{(R)}$) selected for the study, 10 specimens each were soaked into individual beakers of soy sauce, red pepper paste, coffee and distilled water. And $L^*$, $a^*$, $b^*$ value were measured for evaluation of the color difference (${\Delta}E^*$) with spectrophotometer on the 1 day, 1 week, 2 weeks, 4 weeks and 8 weeks after immersion. Results: 1. ${\Delta}E^*$ value of artificial teeth which were soaked in soy sauce and coffee was various according to soaking periods. However there was significant difference between Trubyte $Biotone^{(R)}$ and Physio $Duracross^{(R)}$ in red pepper paste regardless of soaking period(P<.05). 2. Except for 8 weeks of Endura $Anterio^{(R)}$, 4 weeks and 8 weeks of Physio $Duracross^{(R)}$, artificial teeth soaked in red pepper paste regardless of the type had significant difference of ${\Delta}E^*$ value compared with other groups (P<.05). 3. $a^*$, $b^*$ value of Endura $Anterio^{(R)}$ and Trubyte $Biotone^{(R)}$ which were soaked in red pepper paste had significant difference compared with the value of other group(P<.05). Conclusion: Red pepper paste had the greatest effect on color difference of artificial tooth. Physio $Duracross^{(R)}$ showed relatively less color difference than Trubyte $Biotone^{(R)}$ and Endura $Anterio^{(R)}$. But as ${\Delta}E^*$ difference were all less than 3.3, these artificial resin teeth seemed appropriate for clinical use.

• Journal of Intelligence and Information Systems
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• v.21 no.3
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• pp.79-99
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• 2015

The prediction of bankruptcy has been extensively studied in the accounting and finance field. It can have an important impact on lending decisions and the profitability of financial institutions in terms of risk management. Many researchers have focused on constructing a more robust bankruptcy prediction model. Early studies primarily used statistical techniques such as multiple discriminant analysis (MDA) and logit analysis for bankruptcy prediction. However, many studies have demonstrated that artificial intelligence (AI) approaches, such as artificial neural networks (ANN), decision trees, case-based reasoning (CBR), and support vector machine (SVM), have been outperforming statistical techniques since 1990s for business classification problems because statistical methods have some rigid assumptions in their application. In previous studies on corporate bankruptcy, many researchers have focused on developing a bankruptcy prediction model using financial ratios. However, there are few studies that suggest the specific types of bankruptcy. Previous bankruptcy prediction models have generally been interested in predicting whether or not firms will become bankrupt. Most of the studies on bankruptcy types have focused on reviewing the previous literature or performing a case study. Thus, this study develops a model using data mining techniques for predicting the specific types of bankruptcy as well as the occurrence of bankruptcy in Korean small- and medium-sized construction firms in terms of profitability, stability, and activity index. Thus, firms will be able to prevent it from occurring in advance. We propose a hybrid approach using two artificial neural networks (ANNs) for the prediction of bankruptcy types. The first is a back-propagation neural network (BPN) model using supervised learning for bankruptcy prediction and the second is a self-organizing map (SOM) model using unsupervised learning to classify bankruptcy data into several types. Based on the constructed model, we predict the bankruptcy of companies by applying the BPN model to a validation set that was not utilized in the development of the model. This allows for identifying the specific types of bankruptcy by using bankruptcy data predicted by the BPN model. We calculated the average of selected input variables through statistical test for each cluster to interpret characteristics of the derived clusters in the SOM model. Each cluster represents bankruptcy type classified through data of bankruptcy firms, and input variables indicate financial ratios in interpreting the meaning of each cluster. The experimental result shows that each of five bankruptcy types has different characteristics according to financial ratios. Type 1 (severe bankruptcy) has inferior financial statements except for EBITDA (earnings before interest, taxes, depreciation, and amortization) to sales based on the clustering results. Type 2 (lack of stability) has a low quick ratio, low stockholder's equity to total assets, and high total borrowings to total assets. Type 3 (lack of activity) has a slightly low total asset turnover and fixed asset turnover. Type 4 (lack of profitability) has low retained earnings to total assets and EBITDA to sales which represent the indices of profitability. Type 5 (recoverable bankruptcy) includes firms that have a relatively good financial condition as compared to other bankruptcy types even though they are bankrupt. Based on the findings, researchers and practitioners engaged in the credit evaluation field can obtain more useful information about the types of corporate bankruptcy. In this paper, we utilized the financial ratios of firms to classify bankruptcy types. It is important to select the input variables that correctly predict bankruptcy and meaningfully classify the type of bankruptcy. In a further study, we will include non-financial factors such as size, industry, and age of the firms. Thus, we can obtain realistic clustering results for bankruptcy types by combining qualitative factors and reflecting the domain knowledge of experts.

• Proceedings of the Korean Vacuum Society Conference
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• 2012.08a
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• pp.254-255
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• 2012

Interest in nano-crystalline silicon (nc-Si) thin films has been growing because of their favorable processing conditions for certain electronic devices. In particular, there has been an increase in the use of nc-Si thin films in photovoltaics for large solar cell panels and in thin film transistors for large flat panel displays. One of the most important material properties for these device applications is the macroscopic charge-carrier mobility. Hydrogenated amorphous silicon (a-Si:H) or nc-Si is a basic material in thin film transistors (TFTs). However, a-Si:H based devices have low carrier mobility and bias instability due to their metastable properties. The large number of trap sites and incomplete hydrogen passivation of a-Si:H film produce limited carrier transport. The basic electrical properties, including the carrier mobility and stability, of nc-Si TFTs might be superior to those of a-Si:H thin film. However, typical nc-Si thin films tend to have mobilities similar to a-Si films, although changes in the processing conditions can enhance the mobility. In polycrystalline silicon (poly-Si) thin films, the performance of the devices is strongly influenced by the boundaries between neighboring crystalline grains. These grain boundaries limit the conductance of macroscopic regions comprised of multiple grains. In much of the work on poly-Si thin films, it was shown that the performance of TFTs was largely determined by the number and location of the grain boundaries within the channel. Hence, efforts were made to reduce the total number of grain boundaries by increasing the average grain size. However, even a small number of grain boundaries can significantly reduce the macroscopic charge carrier mobility. The nano-crystalline or polymorphous-Si development for TFT and solar cells have been employed to compensate for disadvantage inherent to a-Si and micro-crystalline silicon (${\mu}$-Si). Recently, a novel process for deposition of nano-crystralline silicon (nc-Si) thin films at room temperature was developed using neutral beam assisted chemical vapor deposition (NBaCVD) with a neutral particle beam (NPB) source, which controls the energy of incident neutral particles in the range of 1~300 eV in order to enhance the atomic activation and crystalline of thin films at room temperature. In previous our experiments, we verified favorable properties of nc-Si thin films for certain electronic devices. During the formation of the nc-Si thin films by the NBaCVD with various process conditions, NPB energy directly controlled by the reflector bias and effectively increased crystal fraction (~80%) by uniformly distributed nc grains with 3~10 nm size. The more resent work on nc-Si thin film transistors (TFT) was done. We identified the performance of nc-Si TFT active channeal layers. The dependence of the performance of nc-Si TFT on the primary process parameters is explored. Raman, FT-IR and transmission electron microscope (TEM) were used to study the microstructures and the crystalline volume fraction of nc-Si films. The electric properties were investigated on Cr/SiO2/nc-Si metal-oxide-semiconductor (MOS) capacitors.

• KOREAN JOURNAL OF CROP SCIENCE
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• v.48 no.6
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• pp.452-459
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• 2003

A new demand for vegetable peanut (Arachis hypogaea L.) in Korea has increased farmers interest in growing vegetable peanut. Compared to grain peanut production, vegetable peanut production enables the growth period to be shortened by 20 or 30 days and farmers to adopt various cropping systems and to return crop residues in the soil. With the purpose of establishing desirable cropping systems for sustainable vegetable peanut production, three field experiments were conducted from 2000 to 2001 at Milyang, the southeastern part of Korea. Main focuses were given into the effect of cropping systems for vegetable peanut production on each crop's yield and soil sustainability. The cropping systems investigated were single vegetable peanut, peanut-radish-green barley, peanut-barley, and peanut-garlic cropping system, with or without crop residue incorporation in the soil. Among the cropping systems investigated for sustainable vegetable peanut production, peanut-only and peanut-radish-green barley cropping systems showed vulnerable to diseases and lodging while peanut-barley and peanut-garlic cropping systems showed higher stability in response to diseases and lodging, consequently leading to higher yield potential of vegetable peanut production. In the peanut-barley cropping system, both barley and peanut residues returned to the soil played an important role in soil improvement as well as in significantly increased grain yield of peanut and barley. A particular notice was taken to the pronounced increase in Trichoderma population and the amount of nitrogen mineralization induced by the returned barley residue. Soil structure, compactness, pH, and fertility were positively influenced by the returned crop residues, which apparently increased sustainability in vegetable peanut production systems.

• International Commerce and Information Review
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• v.14 no.3
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• pp.75-96
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• 2012

China will replace the global governance of the 21st century in 2050. The rise of China provide the Chinese development model to other developing countries. There are positive element and disability element in China's 'peaceful rise' strategy at the same time. Success of the reform and opening up, market liberalization, economic interdependency, economic globalization, stability of ruling power, consolidation of one-party rule and soft power increase are the promotions of peaceful rise. China's rise as a power nation begins by regaining the superpower status in East Asia. East Asia is a lebensraum assuring a continuing growth to China. For this lebensraum, China shows an interest in institutionalization of regional economic cooperation. The core values of ASEAN, namely the mutual respect, harmonious coexistence, co-prosperity, egalitarianism and pluralism are in conform to China's policy of harmonious world and peaceful coexistence. Through this common value the tension in East Asia will be alleviated. By the regional hegemony strategy based on soft power and economic success, China will try to regain the past glorious position. Attaining status as a coordinator of the world rule will be based on the success of the East Asian strategy. Korea and other neighboring countries will be the best beneficiary countries of the China's rise strategy. China's rising strategy will have a profound effect on neighboring countries especially, Korea. The scale of the movement of goods, labor, and capital between the two countries will become much larger than present. Through regional trade agreements, economic interdependency between Korea and China will increase.