• Management & Information Systems Review
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• v.29 no.2
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• pp.1-25
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• 2010

This study attempted to empirically test the determinants of stock returns in Korean stock market applying multi-factor model proposed by Haugen and Baker(1996). Regression models were developed using 16 variables related to liquidity, risk, historical price, price level, and profitability as independent variables and 690 stock monthly returns as dependent variable. For the statistical analysis, the data were collected from the Kis Value database and the tests of forecasting power in this study minimized various possible bias discussed in the literature as possible. The statistical results indicated that: 1) Liquidity, one-month excess return, three-month excess return, PER, ROE, and volatility of total return affect stock returns simultaneously. 2) Liquidity, one-month excess return, three-month excess return, six-month excess return, PSR, PBR, ROE, and EPS have an antecedent influence on stock returns. Meanwhile, realized returns of decile portfolios increase in proportion to predicted returns. This results supported previous study by Haugen and Baker(1996) and indicated that firm-characteristic model can better predict stock returns than CAPM. 3) The firm-characteristic model has better predictive power than Fama-French three-factor model, which indicates that a portfolio constructed based on this model can achieve excess return. This study found that expected return factor models are accurate, which is consistent with other countries' results. There exists a surprising degree of commonality in the factors that are most important in determining the expected returns among different stocks.

• Journal of Technology Innovation
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• v.20 no.2
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• pp.161-187
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• 2012

Recently, environmentally friendly technology are becoming important due to reconsideration about climate change and environmental pollution. In addition, as well as technical skills and social interaction through an analysis of the nonlinear transition management and policy implementation are emerging. This study of the development of photovoltaic industry in Korea 10 years analyze with strategic niche management (SNM) based on the theoretical and multi-layered perspective (MLP) is used as the analytical framework. Choose the gerverment-support project for niche technology, through a process of quantifying and alnalyze the phase transition to Regime with the numerical method and policy vision, learning effects, and network that key elements of SNM, MLP. Through the analysis of the photovoltaic industry technology-commercialization phase was investigated. This conventional overall and step-by-step model for technical management is proposed to replace exiting linear and narrow method and through the case study its validity was confirmed.

• The Journal of Korean Institute of Communications and Information Sciences
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• v.37A no.12
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• pp.1054-1064
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• 2012

HDR (high dynamic range) tone mapping algorithms are used in image processing that reduces the dynamic range of an image to be displayed on LDR (low dynamic range) devices properly. The retinex is one of the tone mapping algorithms to provide dynamic range compression, color constancy, and color rendition. It has been developed through multi-scale methods and luminance-based methods. Retinex algorithms still have drawbacks such as the emphasized noise and desaturation. In this paper, we propose a multi scale tone mapping algorithm for enhancement of contrast, saturation, and noise of HDR rendered images based on visual brightness functions. In the proposed algorithm, HSV color space has been used for preserving the hue and saturation of images. And the algorithm includes the estimation of minimum and maximum luminance level and a visual gamma function for the variation of viewing conditions. And subjective and objective evaluations show that proposed algorithm is better than existing algorithms. The proposed algorithm is expected to image quality enhancement in some fields that require a improvement of the dynamic range due to the changes in the viewing condition.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.28 no.4D
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• pp.523-531
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• 2008

This study tried to find differences between housing lotting prices and sale prices owing to new multi-family housing price regulation. As the results of this study, they are as follows; First, this study shows housing market in Busan has a preferences of new housing which has a new housing form differing from the existing housing form. For example, the mixed-use apartment with higher stories shows steeper incline than the apartments with the existing forms. Second, the new housing prices are affected by the information that affect the price of the old existing housing. They are rates of green area of an apartment complex, the number of household, accessibility to downtown Busan and etc.. They are also confirmed factors that affect a rise of used-housing price in other studies. Third, brand value of apartments affects new housing prices. For example, if the major construction companies build the new apartment, it shows a rising trend than any other housing. Therefore, the local construction companies are expected to be put on a disadvantage places than major construction companies. Fourth, the lotting prices are the most important cause that lead to rise the new housing prices. Accordingly, the present lotting prices are expected that upward tendency the purchasing prices of the new housing will not continue, because the lotting prices have risen since the government removed lotting price regulations and exceeded the level of used-housing prices. And it denote that importance of housing sub-market which indicates rates of old existing housing market rising, frist preference Gu, second preference Gu, rate of multi-family housing.

• 제어로봇시스템학회:학술대회논문집
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• 2004.08a
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• pp.772-776
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• 2004

This paper proposes an interference avoidance approach for Constraint-Based Routing (CBR) algorithm in the Multi-Protocol Label Switching (MPLS) network. The MPLS network itself has a capability of integrating among any layer-3 protocols and any layer-2 protocols of the OSI model. It is based on the label switching technology, which is fast and flexible switching technique using pre-defined Label Switching Paths (LSPs). The MPLS network is a solution for the Traffic Engineering(TE), Quality of Service (QoS), Virtual Private Network (VPN), and Constraint-Based Routing (CBR) issues. According to the MPLS CBR, routing performance requirements are capability for on-line routing, high network throughput, high network utilization, high network scalability, fast rerouting performance, low percentage of call-setup request blocking, and low calculation complexity. There are many previously proposed algorithms such as minimum hop (MH) algorithm, widest shortest path (WSP) algorithm, and minimum interference routing algorithm (MIRA). The MIRA algorithm is currently seemed to be the best solution for the MPLS routing problem in case of selecting a path with minimum interference level. It achieves lower call-setup request blocking, lower interference level, higher network utilization and higher network throughput. However, it suffers from routing calculation complexity which makes it difficult to real task implementation. In this paper, there are three objectives for routing algorithm design, which are minimizing interference levels with other source-destination node pairs, minimizing resource usage by selecting a minimum hop path first, and reducing calculation complexity. The proposed CBR algorithm is based on power factor calculation of total amount of possible path per link and the residual bandwidth in the network. A path with high power factor should be considered as minimum interference path and should be selected for path setup. With the proposed algorithm, all of the three objectives are attained and the approach of selection of a high power factor path could minimize interference level among all source-destination node pairs. The approach of selection of a shortest path from many equal power factor paths approach could minimize the usage of network resource. Then the network has higher resource reservation for future call-setup request. Moreover, the calculation of possible path per link (or interference level indicator) is run only whenever the network topology has been changed. Hence, this approach could reduce routing calculation complexity. The simulation results show that the proposed algorithm has good performance over high network utilization, low call-setup blocking percentage and low routing computation complexity.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.10 no.2
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• pp.23-38
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• 1990

In this study, decompositive optimization method of two levels was selected to optimize effectively the geometry of the truss which takes the multi-loading condition, and the allowable stress, bucking stress, displacement and natural frequency constraints into consideration. The algorithm of this study is made up of sectional optimization using the feasible direction method in level 1, and geometrical optimization employing Powell's one-direction search method which menimizes only objictive function in level 2. The results of this study acquired by beenning applied to structural model of the truss are as follows : 1. It is verified that the algorithm of this study effectively converges, independent of the initial geometry of the truss and the applied various constraints. 2. The optimum goemetry of the truss varies more considerably according to the constraints selected. 3. Under the condition of the same design, the weight of the truss can be decreased more considerably by means of optimizing even the geometry of truss than by means of optimizing the section of truss while fixing geometrical configuration of it, even though there might be a little difference according to the initial geometry of the truss and the design condition.

• Information Systems Review
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• v.13 no.2
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• pp.1-16
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• 2011

Recently, many companies have started to manage and support CoPs formally at the organizational level because of strategic usability of CoP. These companies are also seeking ways to motivate CoP members to actively participate in their groups. Accordingly, this paper proposes one way of increasing CoP activities by rearranging CoP members. In practice, active CoP members often lead their groups. Therefore, rearranging members can, eventually, be one method to motivate more individuals to participate in CoP activities. This paper first suggests a new approach in order to improve knowledge sharing activities at the organizational level based on rearranging members of current CoPs. Second, a mathematical model is presented which maximizes total BLS (Balanced Level Score) of company A with several constraints. Then a real world problem is changed to a popular problem, VRP to solve this problem. Third, the solution program was developed to find a meaningful solution.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.38 no.2
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• pp.261-268
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• 2018

The study used the simplified flooding analysis model, SIMOD, to distribute the total flood discharge by time, so research on flooding in urban areas can be conducted. The conventional flooding analysis models have limitations in constructing input data and take a long time for analysis. However, SIMOD is useful because it supports rapid decision-making process using quick modeling based on simple hydrological data, such as topography and inflow flood of the study area, to analyze submerged routes formed by flooding. Therefore, the study used the SIMOD model to analyze flooding in urban areas before conducting a comparative study with the outputs from FLO-2D, which is one of the conventional flooding analysis models, to identify the model's applicability. Seongseoje was selected as the study area, as it is located downstream the Geumho river where streams flow in the adjacent areas, and dikes are high enough to apply the "Overflow and Break" scenario for urban areas. With regard to topography, the study applied DEM data for the conventional flooding analysis and DSM data to represent urban building communities, distribution of roads, etc. Input flood discharge was calculated by applying the rectangular weir equation under the bank and break scenario through a 200-year return period of a design flood level. Comparative analysis was conducted in a flooded area with a simulation time of 1-24 hours. The time for the 24-hour simulation in SIMOD was less than 7 minutes. Compared with FLO-2D, the difference in flooded areas was less than 20%. Furthermore, the study identified the need for topography data using DSM for urban areas, as the analysis result that applies DSM showed the influence of roads and buildings.

• Journal of Korean Society of Transportation
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• v.27 no.6
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• pp.119-127
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• 2009

It has been known that bus route and company related characteristics have influences on punctuality, but fewer research have been conducted. Independent variables used in this study were selected using correlation analysis, and OLS(Ordinary Least Square) and HLM(Hierarchical Linear Model) were employed to identify factors affecting bus punctuality(headway deviation). The results showed that ICC(intraclass Correlation Coefficient) is 0.10, indicating that hierarchical linear models are more adequate for these data because there is effective variation in the subjects between companies. Punctuality was found to be negatively associated with the number of vehicles, the number of persons per vehicle, and total travel time. On the other hand, average headway and company size have a positive relationship with punctuality. Therefore, the number of vehicles per route, average headway, and the number of vehicles managed by a company should be considered for more accurately evaluating the management of piunctuality.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.33 no.2
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• pp.719-727
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• 2013

Four-step travel-demand modeling based on a trip-level has been widely used over many decades. However, there has been a wide variance between forecasted- and real-travel demands, which leads less reliable on the model implications. A primary reason is that person's real travel behavior is not properly captured throughout the model developments. An activity-based modeling (ABM) approach was proposed and developed toward increasing the accuracy and reality of person's travel behavior in the U.S. since 1990', and stands as a good alternative to replace the existing trip-based approach. The paper contributes to the understanding of how the ABM approaches are dissimilar to the trip-based modeling approach in terms of estimation units, estimation process, their pros and cons and etc. We examined three activity-based travel demand model systems (DaySim, CT-Ramp, and CEMDAP) that are most commonly applied by many MPOs (Metropolitan Planning Organization). We found that the ABM approach can effectively explain multi-dimensional travel decision-makings and be expected to increase the predictive accuracy. Overall, the ABM approach can be a good substitute for the existing travel-demand methods having unreliable forecasts.