• The Journal of Asian Finance, Economics and Business
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• 제3권4호
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• pp.5-16
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• 2016

Prior literature expects a lower marginal cash value for weaker governance firms. We test this empirical hypothesis by using the sample of publicly traded Korean firms from 2005 to 2013. To measure the quality of governance structures, we employ the corporate governance scores provided by Korean Corporate Governance Services. The empirical model of Faulkender and Wang (2006) is adopted to estimate the marginal value of cash. Our empirical analysis shows a higher marginal value of cash for the good governance firms in the examination of the total governance score. This finding is consistent to the agency view of cash policy predicting a larger marginal value of cash for the firms with higher governance scores. However, this positive relationship is not robust for a subset of detailed governance scores; a lower marginal cash value is observed for the firms with better qualities of board structure, auditing, dividend policies. Moreover, our empirical analysis verifies a quite low level of marginal cash value for Korean firms, which supports the existence of severe agency conflicts in Korean corporations. Our results verify the significant role of agency conflicts between a manager and shareholders in the determination of marginal cash values in the Korean firms.

• The Journal of Asian Finance, Economics and Business
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• 제3권4호
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• pp.67-79
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• 2016

Prior literature expects a lower marginal cash value for weaker governance firms. We test this empirical hypothesis by using the sample of publicly traded Korean firms from 2005 to 2013. To measure the quality of governance structures, we employ the corporate governance scores provided by Korean Corporate Governance Services. The empirical model of Faulkender and Wang (2006) is adopted to estimate the marginal value of cash. Our empirical analysis shows a higher marginal value of cash for the good governance firms in the examination of the total governance score. This finding is consistent to the agency view of cash policy predicting a larger marginal value of cash for the firms with higher governance scores. However, this positive relationship is not robust for a subset of detailed governance scores; a lower marginal cash value is observed for the firms with better qualities of board structure, auditing, dividend policies. Moreover, our empirical analysis verifies a quite low level of marginal cash value for Korean firms, which supports the existence of severe agency conflicts in Korean corporations. Our results verify the significant role of agency conflicts between a manager and shareholders in the determination of marginal cash values in the Korean firms.

• 품질경영학회지
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• 제29권1호
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• pp.11-23
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• 2001

This paper is concerned with suggesting a Bayesian method for variable selection in multinomial logit model. It is based upon an optimal rule suggested by use of Bayes rule which minimizes a risk induced by selecting the multinomial logit model. The rule is to find a subset of variables that maximizes the marginal likelihood of the model. We also propose a Laplace-Metropolis algorithm intended to suggest a simple method forestimating the marginal likelihood of the model. Based upon two examples, artificial data and empirical data examples, the Bayesian method is illustrated and its efficiency is examined.

• 대한치과기공학회지
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• 제44권4호
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• pp.126-131
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• 2022

Purpose: The purpose of this study is to evaluate the quality of dental fixed prostheses fabricated by 3DP (three-dimensional printing). Methods: Ten main models were prepared for the study. Ten specimens were printed by 3DP (3DP group). Ten specimens were fabricated by the lost wax technique and casting method to complete the control group (LWC group). The marginal fit was measured for 20 specimens. The measurement of marginal fit was performed using the silicon replica technique. Finally, the marginal fit of 10 specimens from each group was calculated. An independent sample t-test was run to see if the calculated averages for the two groups were mutually significant (α=0.05). Results: According to the experimental results, the mean marginal fit of the 3DP group was 71.9 ㎛, and the LWC group was 55.3 ㎛. The means of the two groups were found to be significantly different (p<0.001) in the results of the independent sample t-test. Conclusion: The marginal fit of fixed dental prostheses produced by 3DP technology was examined with values greater than those fabricated by traditional technology. However, as it appeared to be a value within the range of clinically acceptable range recommended by numerous studies, it was determined that clinical application would be feasible.

• 대한치과기공학회지
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• 제36권3호
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• pp.159-164
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• 2014

Purpose: The purpose of this study was analysis of quality of fixed prostheses fabricated by dental CAD/CAM system. Methods: The ten same cases of stone models were manufactured by dental scannable model, and stone models were scanned using the dental scanner for changing digital model. Ten digital models were completed. The design of zirconia core for zirconia based all-ceramic crown was conducted by the dental CAD program. The samples were fabricated using the pre-sintered zirconia block by dental milling machine. Marginal gaps were analyzed using by silicone replica technique at the eight parts for quality analysis of samples. One-way ANOVA was used for statistical analysis(${\alpha}=0.05$). Results: The mean for marginal gaps were $93.2{\sim}99.1{\mu}m$ at the eight parts. One-was ANOVA didn't show significant differences(p=0.089). Conclusion: The fixed dental prostheses fabricated by dental CAD/CAM were within clinically acceptable range.

• 대한치과보철학회지
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• 제39권4호
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• pp.391-409
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• 2001

Since the early study about the osseointegration, lots of researches have been performed to increase the success rate and the stress around the implant in the jaw bone has been considered as one of the causes of failure. The purpose of this study was to examine the relationship between the implant failure and the stress by analysing the influence of different bone quality and bite force of some foods on the stress distribution around the implant, and to estimate the treatment result according to the bone quality and dietary pattern of patients. Bone quality was divided in 4 groups and models were drawn with the assumption that thread type implant(Nobel Biocare AB, Goteborg, Sweden) of 3.75mm diameter, 13mm length was installed to the bones. Various bite forces were applied to the occlusal surface of superstructure and the stress distributed around the implant were analysed with finite element analysis program. The results were as follows ; 1. The stress was changed proportionally to the bite forces of foods at all measuring points in all load cases. 2. The stress at the marginal bone was higher than that of the other measuring points in all load cases, and it was decreased at the first thread area. 3. The stress at the marginal bone was highest in type IV bone in all load cases. Especially it was twice those of other bone types at the bucco-lingual marginal bone and 50% higher at the mesio-distal marginal bone. 4. The stress at the bucco-lingual sides of the bone around the apical portions of implant showed little differences among the bone types, while type IV bone showed lower stress concentration than the other bone types in the mesio-distal sides. 5. Under the buccal oblique load ($15^{\circ}$ ), the stress at the lingual marginal bone was higher than that of buccal marginal bone, and the difference between the two points was almost same regardless of bone types.

• International Journal of Reliability and Applications
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• 제4권2호
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• pp.79-95
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• 2003

Manufacturers collect and analyze field reliability data to enhance the quality and reliability of their products and to improve customer satisfaction. To reduce the data collecting and maintenance costs, the amount of data maintained for evaluating product quality and reliability should be minimized. With this in mind, some industrial companies assemble warranty databases by gathering data from different sources for a particular time period. This “marginal count failure data” does not provide (i) the number of failures by when the product entered service, (ii) the number of failures by product age, or (iii) information about the effects of the operating season or environment. This article describes a method for estimating age-based claim rates from marginal count failure data. It uses covariates to identify variations in claims relative to variables such as manufacturing characteristics, time of manufacture, operating season or environment. A Poisson model is presented, and the method is illustrated using warranty claims data for two electrical products.

• 가정의학회지
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• 제39권6호
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• pp.364-369
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• 2018

Background: Compared with other chronic diseases, hearing loss is generally overlooked from the perspective of disease burden. However, hearing loss is emerging as an important issue in the current society. The objective of this study was to investigate disease burdens and marginal utilities associated with hearing loss and other chronic diseases. Methods: This study analyzed the cross-sectional data of 32,986 participants aged 19 years and older who completed the Korea National Health and Nutrition Examination Surveys between 2009 and 2013. Additionally, this study used the pure tone audiometric test, European Quality of Life-Five Dimensions Questionnaire, and chronic disease status. The data were analyzed using a multiple linear regression method. Results: The data of 23,297 people who underwent a pure tone audiogram and completed the European Quality of Life-Five Dimensions Questionnaire were used in this analysis. The marginal utility of hearing loss ranked fifth among nine chronic diseases. The estimated loss of quality-adjusted life years associated with hearing loss was -93.69 years per 100,000 people, which is similar to other chronic diseases. Conclusion: This study assessed the marginal utilities and public burdens of hearing loss and eight chronic diseases in a South Korean population. Although the values may vary depending on country and race, this study may provide an indispensable foundation for more detailed studies on hearing loss.

• 한국유기농업학회지
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• 제17권2호
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• pp.135-150
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• 2009

This paper was to use choice experiments in the analysis of consumer choice behavior and preferences for five different attributes(the origin of rice, a quality certificate, a quality control, a traceability system, the price of rice) in Cheongju City. Completed surveys yielded 712 responses which were analyzed using the conditional logit model to analyze the marginal willingness to pay of the four attributes(the origin of rice, a quality certificate, a quality control and a traceability system) per household and estimated the marginal willingness to pay of the set of feasible options. The result of this study can be used as a guide for the rice industry in the design of possible labeling schemes.

• 대한전기학회논문지:전력기술부문A
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• 제55권8호
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• pp.341-350
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• 2006

This paper presents a new methodology to draw the components of locational marginal price (LMP) in electricity market. Recently, the changing environments surrounding electricity industries resulted in the unbundled services provided by electricity market players, which may require the new pricing mechanisms based on the LMP. The changed pricing mechanisms will provide the price signals of time and location to the market participants. Most of the existing studies of LMP are based on the Lagrangian multipliers as shadow prices to evaluate the equivalent values of constraints or factors for security, reliability and quality. However, the shadow prices cannot provide enough information for components of LMP. In this paper, therefore, we proposed a new approach that LMP is divided into three components. To do this, we first present the method for shadow prices calculation and then break down LMP into a variety of parts corresponding to the concerned factors. The proposed approach is applied to 5-bus and modified IEEE 14-bus sample system in order to verify its validity.