• Title/Summary/Keyword: Low-speed

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A 10b 200MS/s 75.6mW $0.76mm^2$ 65nm CMOS Pipeline ADC for HDTV Applications (HDTV 응용을 위한 10비트 200MS/s 75.6mW $0.76mm^2$ 65nm CMOS 파이프라인 A/D 변환기)

  • Park, Beom-Soo;Kim, Young-Ju;Park, Seung-Jae;Lee, Seung-Hoon
    • Journal of the Institute of Electronics Engineers of Korea SD
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    • v.46 no.3
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    • pp.60-68
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    • 2009
  • This work proposes a 10b 200MS/s 65nm CMOS ADC for high-definition video systems such as HDTV requiring high resolution and fast operating speed simultaneously. The proposed ADC employs a four-step pipeline architecture to minimize power consumption and chip area. The input SHA based on four capacitors reduces the output signal range from $1.4V_{p-p}$ to $1.0V_{p-p}$ considering high input signal levels at a low supply voltage of 1.2V. The proposed three-stage amplifiers in the input SHA and MDAC1 overcome the low output resistance problem as commonly observed in a 65nm CMOS process. The proposed multipath frequency-compensation technique enables the conventional RNMC based three-stage amplifiers to achieve a stable operation at a high sampling rate of 200MS/s. The conventional switched-bias power-reduction technique in the sub-ranging flash ADCs further reduces power consumption while the reference generator integrated on chip with optional off-chip reference voltages allows versatile system a locations. The prototype ADC in a 65nm CMOS technology demonstrates a measured DNL and INL within 0.19LSB and 0.61LSB, respectively. The ADC shows a maximum SNDR of 54.BdB and 52.4dB and a maximum SFDR of 72.9dB and 64.8dB at 150MS/S and 200MS/s, respectively. The proposed ADC occupies an active die area of $0.76mm^2$ and consumes 75.6mW at a 1.2V supply voltage.

A Non-Calibrated 2x Interleaved 10b 120MS/s Pipeline SAR ADC with Minimized Channel Offset Mismatch (보정기법 없이 채널 간 오프셋 부정합을 최소화한 2x Interleaved 10비트 120MS/s 파이프라인 SAR ADC)

  • Cho, Young-Sae;Shim, Hyun-Sun;Lee, Seung-Hoon
    • Journal of the Institute of Electronics and Information Engineers
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    • v.52 no.9
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    • pp.63-73
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    • 2015
  • This work proposes a 2-channel time-interleaved (T-I) 10b 120MS/s pipeline SAR ADC minimizing offset mismatch between channels without any calibration scheme. The proposed ADC employs a 2-channel SAR and T-I topology based on a 2-step pipeline ADC with 4b and 7b in the first and second stage for high conversion rate and low power consumption. Analog circuits such as comparator and residue amplifier are shared between channels to minimize power consumption, chip area, and offset mismatch which limits the ADC linearity in the conventional T-I architecture, without any calibration scheme. The TSPC D flip-flop with a short propagation delay and a small number of transistors is used in the SAR logic instead of the conventional static D flip-flop to achieve high-speed SAR operation as well as low power consumption and chip area. Three separate reference voltage drivers for 4b SAR, 7b SAR circuits and a single residue amplifier prevent undesirable disturbance among the reference voltages due to each different switching operation and minimize gain mismatch between channels. High-frequency clocks with a controllable duty cycle are generated on chip to eliminate the need of external complicated high-frequency clocks for SAR operation. The prototype ADC in a 45nm CMOS technology demonstrates a measured DNL and INL within 0.69LSB and 0.77LSB, with a maximum SNDR and SFDR of 50.9dB and 59.7dB at 120MS/s, respectively. The proposed ADC occupies an active die area of 0.36mm2 and consumes 8.8mW at a 1.1V supply voltage.

Real-Time 3D Ultrasound Imaging Method Using a Cross Array Based on Synthetic Aperture Focusing: I. Spherical Wave Transmission Approach (합성구경 기반의 교차어레이를 이용한 실시간 3차원 초음파 영상화 기법 : I. 구형파 송신 방법)

  • 김강식;송태경
    • Journal of Biomedical Engineering Research
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    • v.25 no.5
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    • pp.391-401
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    • 2004
  • 3D imaging systems using 2D phased arrays have a large number of active channels, compelling to use a very expensive and bulky beamforming hardware, and suffer from low volume rate because, in principle, at least one ultrasound transmit-receive event is necessary to construct each scanline. A high speed 3D imaging method using a cross array proposed previously to solve the above limitations can implement fast scanning and dynamic focusing in the lateral direction but suffer from low resolution except at the fixed transmit focusing along the elevational direction. To overcome these limitations, we propose a new real-time volumetric imaging method using a cross array based on the synthetic aperture technique. In the proposed method, ultrasound wave is transmitted successively using each elements of an 1D transmit array transducer, one at a time, which is placed along the elevational direction and for each firing, the returning pulse echoes are received using all elements of an 1D receive array transducer placed along the lateral direction. On receive, by employing the conventional dynamic focusing and synthetic aperture method along lateral and elevational directions, respectively, ultrasound waves can be focused effectively at all imaging points. In addition, in the proposed method, a volume of interest consisting of any required number of slice images, can be constructed with the same number of transmit-receive steps as the total number of transmit array elements. Computer simulation results show that the proposed method can provide the same and greatly improved resolutions in the lateral and elevational directions, respectively, compared with the 3D imaging method using a cross array based on the conventional fixed focusing. In the accompanying paper, we will also propose a new real-time 3D imaging method using a cross array for improving transmit power and elevational spatial resolution, which uses linear wave fronts on transmit.

EFFECT OF LIGHT IRRADIATION MODES ON THE MARGINAL LEAKAGE OF COMPOSITE RESIN RESTORATION (광조사 방식이 복합레진 수복물의 변연누출에 미치는 영향)

  • 박은숙;김기옥;김성교
    • Restorative Dentistry and Endodontics
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    • v.26 no.4
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    • pp.263-272
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    • 2001
  • The aim of this study was to investigate the influence of four different light curing modes on the marginal leakage of Class V composite resin restoration. Eighty extracted human premolars were used. Wedge-shaped class Y cavities were prepared on the buccal surface of the tooth with high-speed diamond bur without bevel. The cavities were positioned half of the cavity above and half beyond the cemento-enamel junction. The depth, height, and width of the cavity were 2 mm, 3 mm and 2 mm respectively. The specimens were divided into 4 groups of 20 teeth each. All the specimen cavities were treated with Prime & Bond$^{R}$ NT dental adhesive system (Dentsply DeTrey GmbH, Germany) according to the manufacturer's instructions and cured for 10 seconds except group VI which were cured for 3 seconds. All the cavities were restored with resin composite Spectrum$^{TM}$ TPH A2 (Dentsply DeTrey GmbH, Germany) in a bulk. Resin composites were light-cured under 4 different modes. A regular intensity group (600 mW/${cm}^2$, group I) was irradiated for 30 s, a low intensity group (300 mW/${cm}^2$, group II) for 60 s and a ultra-high intensity group (1930 mW/${cm}^2$, group IV) for 3 s. A pulse-delay group (group III) was irradiated with 400 mW/${cm}^2$ for 2 s followed by 800 mW/${cm}^2$ for 10 s after 5 minutes delay. The Spectrum$^{TM}$ 800 (Dentsply DeTrey GmbH, Germany) light-curing units were used for groups I, II and III and Apollo 95E (DMD, U.S.A.) was used for group IV. The composite resin specimens were finished and polished immediately after light curing except group III which were finished and polished during delaying time. Specimens were stored in a physiologic saline solution at 37$^{\circ}C$ for 24 hours. After thermocycling (500$\times$, 5-55$^{\circ}C$), all teeth were covered with nail varnish up to 0.5 mm from the margins of the restorations, immersed in 37$^{\circ}C$, 2% methylene blue solution for 24 hours, and rinsed with tap water for 24 hours. After embedding in clear resin, the specimens were sectioned with a water-cooled diamond saw (Isomet$^{TM}$, Buehler Co., Lake Bluff, IL, U.S.A.) along the longitudinal axis of the tooth so as to pass the center of the restorations. The cut surfaces were examined under a stereomicroscope (SZ-PT Olympus, Japan) at ${\times}$25 magnification, and the images were captured with a CCD camera (GP-KR222, Panasonic, Japan) and stored in a computer with Studio Grabber program. Dye penetration depth at the restoration/dentin and the restoration/enamel interfaces was measured as a rate of the entire depth of the restoration using a software (Scion image, Scion Corp., U.S.A.) The data were analysed statistically using One-way ANOVA and Tukey's method. The results were as follows : 1. Pulse-Delay group did not show any significant difference in dye penetration rate from other groups at enamel and dentin margins (p>0.05) 2. At dentin margin, ultra-high intensity group showed significantly higher dye penetration rate than both regular intensity group and low intensity group (p<0.05). 3. At enamel margin, there were no statistically significant difference among four groups (p>0.05). 4. Dentin margin showed significantly higher dye penetration rate than enamel margin in all groups (p<0.05).

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A Comparison Study on Middle School Students of Gwangju and Jeonnam in Terms of Dietary Behavior, Body Perception and Weight Control Concerns According to BMI (광주.전남 일부 지역 중학생들의 BMI 수준에 따른 식행동, 체형인식 및 체중조절 양상에 관한 연구)

  • Choi, In-Seon;Ro, Hee-Kyong
    • Journal of the Korean Society of Food Science and Nutrition
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    • v.39 no.3
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    • pp.383-391
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    • 2010
  • This study was performed to investigate the food habits, eating behaviors, perception of body shape, statuses of body weight control by BMI (Body Mass Index) of 732 middle school students in Gwangju and Jeonnam. The results of this study were compared among under weight (UW), normal weight (NW), and overweight (OW) groups according to BMI levels. In the OW group, female students had low scores in eating at night only, while male students had low scores in eating at night, eating speed, and food selection. All subjects wanted more height than measured. Only male students in the UW group wanted weight loss, whereas female students in the OW and NW groups did. Higher BMI in female students resulted in more weight difference between measured and wanted. All subjects responded properly themselves in perception of body shape but the OW groups showed a big difference between their present weight and wanted weights. Higher BMI in all students corresponded to more interest in concern and experience of weight management. In the male students, the reason for weight management showed high tendency in being healthy, whereas the female students had high tendency in having a slender figure. Higher BMI in all students corresponded to bigger difference between wanted and perceived body shape. In contrast, lower BMI in all students meant more stress. Greater difference between wanted and measured weight and greater difference between wanted and perceived body shape corresponded to less satisfaction in body shape. In conclusion, compared to the NW and UW groups, the OW group had overeating habits highly linked to stress. Also the OW group didn't have desirable eating behaviors and attitudes because of their greater interest in concern and experience of weight control and stress accumulation, and finally there was difference in food habits and behaviors according to the BMI level. Therefore these results suggest that effective nutritional programs should be developed including correct body image and good dietary habits.

Validation of QF-PCR for Rapid Prenatal Diagnosis of Common Chromosomal Aneuploidies in Korea

  • Han, Sung-Hee;Ryu, Jae-Song;An, Jeong-Wook;Park, Ok-Kyoung;Yoon, Hye-Ryoung;Yang, Young-Ho;Lee, Kyoung-Ryul
    • Journal of Genetic Medicine
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    • v.7 no.1
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    • pp.59-66
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    • 2010
  • Purpose: Quantitative fluorescent polymerase chain reaction (QF-PCR) allows for the rapid prenatal diagnosis of common aneuploidies. The main advantages of this assay are its low cost, speed, and automation, allowing for large-scale application. However, despite these advantages, it is not a routine method for prenatal aneuploidy screening in Korea. Our objective in the present study was to validate the performance of QF-PCR using short tandem repeat (STR) markers in a Korean population as a means for rapid prenatal diagnosis. Material and Methods: A QF-PCR assay using an Elucigene kit (Gen-Probe, Abingdon, UK), containing 20 STR markers located on chromosomes 13, 18, 21, X and Y, was performed on 847 amniotic fluid (AF) samples for prenatal aneuploidy screening referred for prenatal aneuploidy screening from 2007 to 2009. The results were then compared to those obtained using conventional cytogenetic analysis. To evaluate the informativity of STR markers, the heterozygosity index of each marker was determined in all the samples. Results: Three autosomes (13, 18, and 21) and X and Y chromosome aneuploidies were detected in 19 cases (2.2%, 19/847) after QF-PCR analysis of the 847 AF samples. Their results are identical to those of conventional cytogenetic analysis, with 100% positive predictive value. However, after cytogenetic analysis, 7 cases (0.8%, 7/847) were found to have 5 balanced and 2 unbalanced chromosomal abnormalities that were not detected by QF-PCR. The STR markers had a slightly low heterozygosity index (average: 0.76) compared to those reported in Caucasians (average: 0.80). Submicroscopic duplication of D13S634 marker, which might be a unique finding in Koreans, was detected in 1.4% (12/847) of the samples in the present study. Conclusion: A QF-PCR assay for prenatal aneuploidy screening was validated in our institution and proved to be efficient and reliable. However, we suggest that each laboratory must perform an independent validation test for each STR marker in order to develop interpretation guidelines of the results and must integrate QF-PCR into the routine cytogenetic laboratory workflow.

Effect of Physical, Chemical Properties and of Pelleting Solid Materials on the Germination in Pelleted Carrot Seeds (펠렛 피복물질의 물리, 화학적 특성이 당근 펠렛종자의 발아력에 미치는 영향)

  • Kang, Jum-Soon;Son, Beung-Gu;Choi, Young-Whan;Lee, Yong-Jae;Park, Young-Hoon;Choi, In-Soo
    • Journal of Life Science
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    • v.17 no.12
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    • pp.1701-1708
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    • 2007
  • Seed pelleting is generally conducted in order to save the labor for sowing and thinning by enabling the precision mechanical planting. In the present study, the influence of physical and chemical properties of pelleting solid materials was investigated on carrot seed germination. Among the pelleting solid materials evaluated, dialite, kaolin, and talc showed low bulk density and high porosity. Bentonite and dialite carried high water holding capacities of 184% and 173%, respectively, while calcium carbonate, calcium oxide, and fly ash showed relatively low water holding capacity. The pH of kaolin (6.8) and dialite (7.4) were close to neutral, while limestone (12.8), calcium oxide (13.0), and bentonite (10.0) were highly basic. High electro-conductivity was shown in limestone and calcium oxide. EDS analysis revealed that the main elemental compositions of talc were Si (71.0%) and Mg (29.0%), and those of calcium carbonate were Ca (66.6%), Si (22.9%), and Mg (10.5%). High granulation capacity was observed from talc and the mixture of talc and calcium carbonate. Seeds pelleted with bentonite showed the highest hardness. The dissolving type of the pellet layer after imbibition was split type in talc, limestone, zeolite, and fly ash, melt type in calcium carbonate and calcium oxide, and swell type in bentonite and vermiculite. The shortest dissolving time of pellet layer was observed from calcium carbonate and kaolin. The germination speed $(T_{50})$ was delayed as the size of pelleted seeds increased. The optimum size of pelleting was 19 ratio in carrot.

Detection of flash drought using evaporative stress index in South Korea (증발스트레스지수를 활용한 국내 돌발가뭄 감지)

  • Lee, Hee-Jin;Nam, Won-Ho;Yoon, Dong-Hyun;Mark, D. Svoboda;Brian, D. Wardlow
    • Journal of Korea Water Resources Association
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    • v.54 no.8
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    • pp.577-587
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    • 2021
  • Drought is generally considered to be a natural disaster caused by accumulated water shortages over a long period of time, taking months or years and slowly occurring. However, climate change has led to rapid changes in weather and environmental factors that directly affect agriculture, and extreme weather conditions have led to an increase in the frequency of rapidly developing droughts within weeks to months. This phenomenon is defined as 'Flash Drought', which is caused by an increase in surface temperature over a relatively short period of time and abnormally low and rapidly decreasing soil moisture. The detection and analysis of flash drought is essential because it has a significant impact on agriculture and natural ecosystems, and its impacts are associated with agricultural drought impacts. In South Korea, there is no clear definition of flash drought, so the purpose of this study is to identify and analyze its characteristics. In this study, flash drought detection condition was presented based on the satellite-derived drought index Evaporative Stress Index (ESI) from 2014 to 2018. ESI is used as an early warning indicator for rapidly-occurring flash drought a short period of time due to its similar relationship with reduced soil moisture content, lack of precipitation, increased evaporative demand due to low humidity, high temperature, and strong winds. The flash droughts were analyzed using hydrometeorological characteristics by comparing Standardized Precipitation Index (SPI), soil moisture, maximum temperature, relative humidity, wind speed, and precipitation. The correlation was analyzed based on the 8 weeks prior to the occurrence of the flash drought, and in most cases, a high correlation of 0.8(-0.8) or higher(lower) was expressed for ESI and SPI, soil moisture, and maximum temperature.

Analysis of Thermal Environment Modification Effects of Street Trees Depending on Planting Types and Street Directions in Summertime Using ENVI-Met Simulation (ENVI-Met 시뮬레이션을 통한 도로 방향별 가로수 식재 형태에 따른 여름철 열환경 개선 효과 분석)

  • Lim, Hyeonwoo;Jo, Sangman;Park, Sookuk
    • Journal of the Korean Institute of Landscape Architecture
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    • v.50 no.2
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    • pp.1-22
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    • 2022
  • The modification effects of street trees on outdoor thermal comfort in summertime according to tree planting types and road direction were analyzed using a computer simulation program, ENVI-met. With trees, the air temperature and wind speed decreased, and the relative humidity increased. In the case of mean radiant temperature (Tmrt) and human thermal sensation, physiological equivalent temperature (PET) and universal thermal climate index (UTCI), there was a decrease during the daytime. The greatest change among the meteorological factors by trees happened in Tmrt, and PET and UTCI showed similar patterns with Tmrt·The most effective tree planting type on thermal comfort modification was low tree height, wide tree crown, high leaf area index, and narrow planting interval (LWDN). Tmrt, PET and UTCI showed a large difference depending on shadow patterns of buildings and trees according to solar altitude and azimuth angles, and building locations. When the building shade areas increased, the thermal modification effect by trees decreased. In particular, results on the east and west sidewalks showed a large deviation over time. When applying the LWDN, the northwest, west and southwest sidewalks showed a significant reduction of 8.6-12.3℃ PET and 4.2-4.5℃ UTCI at 10:00, and the northeast, east and southeast sidewalks showed 8.1-11.8℃ PET and 4.4-5.0℃ UTCI at 16:00. On the other hand, when the least effective type (high tree height, narrow tree crown, low leaf area index, and wide planting interval) was applied, the maximum reduction was up to 1.8℃ PET and 0.9℃ UTCI on the eastern sidewalks, and up to 3.0℃ PET and 0.9℃ UTCI on the western ones. In addition, the difference in modification effects on Tmrt, PET and UTCI between the tree planting types was not significant when the tree effects were reduced by the effects of buildings. These results can be used as basic data to make the most appropriate street tree planting model for thermal comfort improvement in urban areas in summer.

The Relations between Financial Constraints and Dividend Smoothing of Innovative Small and Medium Sized Enterprises (혁신형 중소기업의 재무적 제약과 배당스무딩간의 관계)

  • Shin, Min-Shik;Kim, Soo-Eun
    • Korean small business review
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    • v.31 no.4
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    • pp.67-93
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    • 2009
  • The purpose of this paper is to explore the relations between financial constraints and dividend smoothing of innovative small and medium sized enterprises(SMEs) listed on Korea Securities Market and Kosdaq Market of Korea Exchange. The innovative SMEs is defined as the firms with high level of R&D intensity which is measured by (R&D investment/total sales) ratio, according to Chauvin and Hirschey (1993). The R&D investment plays an important role as the innovative driver that can increase the future growth opportunity and profitability of the firms. Therefore, the R&D investment have large, positive, and consistent influences on the market value of the firm. In this point of view, we expect that the innovative SMEs can adjust dividend payment faster than the noninnovative SMEs, on the ground of their future growth opportunity and profitability. And also, we expect that the financial unconstrained firms can adjust dividend payment faster than the financial constrained firms, on the ground of their financing ability of investment funds through the market accessibility. Aivazian et al.(2006) exert that the financial unconstrained firms with the high accessibility to capital market can adjust dividend payment faster than the financial constrained firms. We collect the sample firms among the total SMEs listed on Korea Securities Market and Kosdaq Market of Korea Exchange during the periods from January 1999 to December 2007 from the KIS Value Library database. The total number of firm-year observations of the total sample firms throughout the entire period is 5,544, the number of firm-year observations of the dividend firms is 2,919, and the number of firm-year observations of the non-dividend firms is 2,625. About 53%(or 2,919) of these total 5,544 observations involve firms that make a dividend payment. The dividend firms are divided into two groups according to the R&D intensity, such as the innovative SMEs with larger than median of R&D intensity and the noninnovative SMEs with smaller than median of R&D intensity. The number of firm-year observations of the innovative SMEs is 1,506, and the number of firm-year observations of the noninnovative SMEs is 1,413. Furthermore, the innovative SMEs are divided into two groups according to level of financial constraints, such as the financial unconstrained firms and the financial constrained firms. The number of firm-year observations of the former is 894, and the number of firm-year observations of the latter is 612. Although all available firm-year observations of the dividend firms are collected, deletions are made in the case of financial industries such as banks, securities company, insurance company, and other financial services company, because their capital structure and business style are widely different from the general manufacturing firms. The stock repurchase was involved in dividend payment because Grullon and Michaely (2002) examined the substitution hypothesis between dividends and stock repurchases. However, our data structure is an unbalanced panel data since there is no requirement that the firm-year observations data are all available for each firms during the entire periods from January 1999 to December 2007 from the KIS Value Library database. We firstly estimate the classic Lintner(1956) dividend adjustment model, where the decision to smooth dividend or to adopt a residual dividend policy depends on financial constraints measured by market accessibility. Lintner model indicates that firms maintain stable and long run target payout ratio, and that firms adjust partially the gap between current payout rato and target payout ratio each year. In the Lintner model, dependent variable is the current dividend per share(DPSt), and independent variables are the past dividend per share(DPSt-1) and the current earnings per share(EPSt). We hypothesized that firms adjust partially the gap between the current dividend per share(DPSt) and the target payout ratio(Ω) each year, when the past dividend per share(DPSt-1) deviate from the target payout ratio(Ω). We secondly estimate the expansion model that extend the Lintner model by including the determinants suggested by the major theories of dividend, namely, residual dividend theory, dividend signaling theory, agency theory, catering theory, and transactions cost theory. In the expansion model, dependent variable is the current dividend per share(DPSt), explanatory variables are the past dividend per share(DPSt-1) and the current earnings per share(EPSt), and control variables are the current capital expenditure ratio(CEAt), the current leverage ratio(LEVt), the current operating return on assets(ROAt), the current business risk(RISKt), the current trading volume turnover ratio(TURNt), and the current dividend premium(DPREMt). In these control variables, CEAt, LEVt, and ROAt are the determinants suggested by the residual dividend theory and the agency theory, ROAt and RISKt are the determinants suggested by the dividend signaling theory, TURNt is the determinant suggested by the transactions cost theory, and DPREMt is the determinant suggested by the catering theory. Furthermore, we thirdly estimate the Lintner model and the expansion model by using the panel data of the financial unconstrained firms and the financial constrained firms, that are divided into two groups according to level of financial constraints. We expect that the financial unconstrained firms can adjust dividend payment faster than the financial constrained firms, because the former can finance more easily the investment funds through the market accessibility than the latter. We analyzed descriptive statistics such as mean, standard deviation, and median to delete the outliers from the panel data, conducted one way analysis of variance to check up the industry-specfic effects, and conducted difference test of firms characteristic variables between innovative SMEs and noninnovative SMEs as well as difference test of firms characteristic variables between financial unconstrained firms and financial constrained firms. We also conducted the correlation analysis and the variance inflation factors analysis to detect any multicollinearity among the independent variables. Both of the correlation coefficients and the variance inflation factors are roughly low to the extent that may be ignored the multicollinearity among the independent variables. Furthermore, we estimate both of the Lintner model and the expansion model using the panel regression analysis. We firstly test the time-specific effects and the firm-specific effects may be involved in our panel data through the Lagrange multiplier test that was proposed by Breusch and Pagan(1980), and secondly conduct Hausman test to prove that fixed effect model is fitter with our panel data than the random effect model. The main results of this study can be summarized as follows. The determinants suggested by the major theories of dividend, namely, residual dividend theory, dividend signaling theory, agency theory, catering theory, and transactions cost theory explain significantly the dividend policy of the innovative SMEs. Lintner model indicates that firms maintain stable and long run target payout ratio, and that firms adjust partially the gap between the current payout ratio and the target payout ratio each year. In the core variables of Lintner model, the past dividend per share has more effects to dividend smoothing than the current earnings per share. These results suggest that the innovative SMEs maintain stable and long run dividend policy which sustains the past dividend per share level without corporate special reasons. The main results show that dividend adjustment speed of the innovative SMEs is faster than that of the noninnovative SMEs. This means that the innovative SMEs with high level of R&D intensity can adjust dividend payment faster than the noninnovative SMEs, on the ground of their future growth opportunity and profitability. The other main results show that dividend adjustment speed of the financial unconstrained SMEs is faster than that of the financial constrained SMEs. This means that the financial unconstrained firms with high accessibility to capital market can adjust dividend payment faster than the financial constrained firms, on the ground of their financing ability of investment funds through the market accessibility. Futhermore, the other additional results show that dividend adjustment speed of the innovative SMEs classified by the Small and Medium Business Administration is faster than that of the unclassified SMEs. They are linked with various financial policies and services such as credit guaranteed service, policy fund for SMEs, venture investment fund, insurance program, and so on. In conclusion, the past dividend per share and the current earnings per share suggested by the Lintner model explain mainly dividend adjustment speed of the innovative SMEs, and also the financial constraints explain partially. Therefore, if managers can properly understand of the relations between financial constraints and dividend smoothing of innovative SMEs, they can maintain stable and long run dividend policy of the innovative SMEs through dividend smoothing. These are encouraging results for Korea government, that is, the Small and Medium Business Administration as it has implemented many policies to commit to the innovative SMEs. This paper may have a few limitations because it may be only early study about the relations between financial constraints and dividend smoothing of the innovative SMEs. Specifically, this paper may not adequately capture all of the subtle features of the innovative SMEs and the financial unconstrained SMEs. Therefore, we think that it is necessary to expand sample firms and control variables, and use more elaborate analysis methods in the future studies.