• Structural Engineering and Mechanics
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• v.17 no.3_4
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• pp.557-572
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• 2004

Control systems are used to limit structural lateral deflections during large external loads such as winds and earthquakes. Most recently, the semi-active control approach has grown in popularity due to inexpensive control devices that consume little power. As a result, recently designed control systems have employed many semi-active control devices for the control of a structure. In the future, it is envisioned that structural control systems will be large-scale systems defined by high actuation and sensor densities. Decentralized control approaches have been used to control large-scale systems that are too complex for a traditional centralized approach, such as linear quadratic regulation (LQR). This paper describes the derivation of energy market-based control (EMBC), a decentralized approach that models the structural control system as a competitive marketplace. The interaction of free-market buyers and sellers result in an optimal allocation of limited control system resources such as control energy. The Kajima-Shizuoka Building and a 20-story benchmark structure are selected as illustrative examples to be used for comparison of the EMBC and centralized LQR approaches.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.12
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• pp.73-84
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• 2020

The study aims to investigate the dual effects of corruption control on economic growth in relationship with the stock market and trade openness in developing countries. The study used difference S-GMM method on the dynamic panel data model in the period (2002-2017) with data collected from the World Bank. The study discovers the dominant impacts of corruption control in the relationship with the stock market on economic growth. At the same time, the study also confirms the overwhelming impact of corruption control in the relationship between trade openness and economic growth in the developing countries. In addition, the study shows that inefficient stock markets in developing countries will not promote economic growth. Meanwhile, the long-standing credit market has a positive impact on economic growth. With the strong development of stock market and trade openness in the period (2002-2017), control on corruption in developing countries does not get better in time with the increase in demand. The findings of this study suggest a number of solutions to strengthen corruption control, leading to the increased efficiency on the stock market and as well as encouraging the positive effects of trade openness to contribute to promoting economic growth in developing countries.

• Asia pacific journal of information systems
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• v.31 no.3
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• pp.257-276
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• 2021

This study investigates the factors that facilitate or hinder people to use mobile payment, especially drawing upon the theoretical perspectives on individual's privacy protection motivation and perceived market condition. Survey data (n = 200) were collected through a web-based platform and used to test a theoretical model. The results show that one's privacy protection power is formed by various individual and technological factors (i.e., perceived data exposure, self-efficacy, and response efficacy), and in turn it determines his/her intention to use mobile payment. Moreover, the relationship between privacy protection power and mobile payment use is conditional on the perceived market control by the service provider - with a perception of the high level of provider's market control, one uses mobile payment regardless of his/her privacy protection power, while under the low level of provider's market control, the decision depends on the degree of privacy protection power. The findings would help our understanding of why some people are more susceptible to mobile payment and others are not.

• Journal of Institute of Control, Robotics and Systems
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• v.16 no.11
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• pp.1025-1028
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• 2010

This paper presents a new approach to analyze the stability of dynamic competitive markets within the framework of supervisory control of discrete event systems. A competitive market is representative of free market economy where it is well known that an invisible hand (also referred to as Walrasian auctioneer) always achieves an equilibrium of demand and supply. Upon the framework of supervisory control theory, this paper shows that Walrasian auctioneer is a stabilizing supervisor for a convergent competitive market, however a non-convergent competitive market (e.g. a free market under economic bubble and depression) controlled by Walrasian auctioneer may not be stable.

• Asia-Pacific Journal of Business
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• v.14 no.4
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• pp.255-273
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• 2023

Purpose - This study examines whether internal control has an effect on stock price informativeness about future earnings. High quality internal control provides continuous assurance for the quality of financial reports, and these future earnings-related information is accurately reflected in the current stock price. Design/methodology/approach - This study collected 12,862 data from 2006 to 2021 in China to make an empirical analysis using the future earnings response coefficient (FERC) and the multiple regression analysis were hired in order to analyze the data. Findings - We find that internal control strengthens the association between current returns and future earnings, indicating that more information about future earnings is reflected in current stock prices. This positive effect exists in both the main board market and the growth enterprise market of China's stock market, especially in the main board market after the implementation of the internal control policy. In addition, we find that the positive effect is weaker for firms that report internal control deficiencies or receives non unqualified internal control audit opinions. The results using earnings persistence yield similar findings, further supporting the results based on the FERC model. Research Implications or Originality - Our tests provide strong evidence that the quality of internal control affects FERC in China stock market.

• The Transactions of The Korean Institute of Electrical Engineers
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• v.58 no.3
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• pp.455-461
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• 2009

This paper proposes Direct Load Control(DLC) operation scheme using a bidding system and the methodology to value proper quantity decided by the DLC program, which is a kind of resources for stabilization of electricity market price during peak times by managing consumer electricity demand. Since DLC program in Korea is based on the contract with the customers participating in this program, it is difficult to anticipate voluntary participation. That is, incentive for participants in DLC program is insufficient. To cope with this point, it is necessary to develop a new market mechanism and market compatible operation scheme for DLC programs. DLC market mechanism is deemed to be equipped with iterative bidding system, independent operation from energy market, and interactive with bidding information on energy market. With this market mechanism, it is important to find the optimal operation point of DLC allowing for the factors of stabilizing the electricity market price and compensating DLC implementation. This paper focuses on the mathematical approaches for the bid-based DLC operation scheme and examines several scenarios for the following technical justifications: 1) stabilization of electricity market price during peak times, 2) elasticity of demand.

• Journal of Electrical Engineering and Technology
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• v.9 no.3
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• pp.1089-1095
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• 2014

Innumerable microgrids would be operated independently by individual operators in a future smart grid. This kind of decentralized power system requires entirely different operation scheme in the actual power system and electricity market operation. Especially, frequency regulation is very important for successive energy trade in this multi-microgrid circumstance. This paper presents an optimal energy and reserve market participation strategy and operation strategy of energy storage system (ESS) by a microgrid operator (MGO). For definite evaluation of the proposed strategy, we postulate that the MGO should participate in the Power Exchange for Frequency Control (PXFC) market, which was devised by Maria Ilic and her coworkers and is suitable to the decentralized operation circumstances. In particular, optimal reserve capacity of the frequency control market and optimal market participation ratio of ESS between frequency control market and energy market are derived theoretically and evaluated by simulations utilizing Nordic Pool Elspot price data.

• Journal of Electrical Engineering and Technology
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• v.12 no.6
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• pp.2196-2207
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• 2017

This paper presents a two-stage market auction model in a pool-based electricity market, which explicitly takes into account the system network security. The security network-constrained market auction model considers the use of corrective control to yield economically efficient actions in the post-contingency state, while ensuring a certain security level. Under this framework, the proposed model shows not only for quantifying the correlation between secure system operation and efficient market operation, but also for providing transparent information on the pricing system security for market participants. The two-stage market auction procedure is formulated using Benders decomposition (BD). In the first stage, the market participants bid in the market for maximizing their profit, and the independent system operator (ISO) clears the market based on social welfare maximization. System network constraints incorporating post-contingency control actions are described in the second stage of the market auction procedure. The market solutions, along with the BD, yield nodal spot prices (NSPs) and nodal congestion prices (NCPs) as byproducts of the proposed two-stage market auction model. Two benchmark systems are used to test and demonstrate the effectiveness of the proposed model.

• Land and Housing Review
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• v.9 no.4
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• pp.1-9
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• 2018

Since year 2000, French housing and rent prices rose at a rapid rate and the housing market has been overheated. Face to this phenomena, the French government enacted a new law Alur which is a legislatif tool to control the private housing rent price for the cities, where the tension of the housing market is very high. This new law has impacted the housing market in two major ways. First, for the 38 cities designated by this law, the rent price's increase rate can not rise above the IRL, which is the rent reference index. Secondly, this law also permits local authorities to control the housing rent's price following the concrete price guidance. Especially in Paris, the city applicated this method for private rental housing since 2015. This city classified its own area by 14 zones. Based on the market surveys of each sector, local authority made a guidance for private housing rent's price. The guideline is consisted of average prices, maxima and minima price by types, which is classified by the construction year, number of rooms and furnished or not. Therefore, this study aims to understand french housing rent's price control system and draw implementation for korean housing rent policies. This research is meaningful for it introduces recent foreign regislations which could be helpful to control the housing market in Korea.

• Journal of Electrical Engineering and Technology
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• v.8 no.4
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• pp.667-674
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• 2013

Wind power producers face many regulation costs in deregulated environment, which remarkably lowers the value of wind power in comparison with conventional sources. One of these costs is associated with the real-time variation of power output and being paid in frequency control market according to the variation band. This paper presents a new approach to coordination of battery energy storage in wind generation system for reducing the payment in frequency control market. The approach depends on the statistic data of wind generation and the prediction of frequency control market price to determine the optimal variation band which is then kept by the real-time charging and discharging of batteries, ultimately the minimum cost of frequency regulation can be obtained. The optimization problem is formulated as trade-off between the decrease in the regulation payment and the increase in the cost of using battery, and vice versus. The approach is applied to a study case and the results of simulation show its effectiveness.