• The Journal of Asian Finance, Economics and Business
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• v.8 no.11
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• pp.1-10
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• 2021

This paper compares the performance of Fama-French three-factor and five-factor models using a dataset of 20 Pakistani commercial banks for the period 2011 to 2020. We focus on an emerging economy as the findings from earlier studies on developed countries cannot be generalized in emerging markets. For empirical analysis, twelve portfolios were developed based on size, market capitalization, investment strategy, and growth. Subsequently, we constructed five Fama-French factors namely, R_M, SMB, HML, RMW, and CMA. The OLS regression technique with robust standard errors was applied to compare the predictive power of both the Fama-French models. Further, we also compared the mean-variance efficiency of the Fama-French models through the GRS test. Our empirical analysis provides three unique and interesting findings. First, both asset pricing models have similar predictive power to explain the expected portfolio returns in most cases. Second, our results from the GRS test suggest that there is no noticeable difference in the mean-variance efficiency of one asset pricing model over the other. Third, we find that all factors of both Fama-French models are statistically significant and are important for explaining the volatility of expected commercial bank returns in the context of Pakistan.

• Proceedings of the KSME Conference
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• 2001.06a
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• pp.175-180
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• 2001

In real structure, multi-point spot welded joints are more frequently used than a single-point spot welded joint. Most researches, however, have been focused to a single-point spot welded joint until now. In this paper, the fatigue behavior of multi-point spot welded joints are investigated both experimentally and analytically using the finite elements. The local strain approach is used rather than the stress intensity factor approach to estimate the fatigue life since the former is quite simple and straightforward. It is found that the fatigue behavior of multi-point spot welded joints is different from that of single-point spot welded joints. The local strain approach is still applicable to multi-point spot welded joints.

• Journal of Ocean Engineering and Technology
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• v.25 no.1
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• pp.67-72
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• 2011

Offshore structures, such as a platform, a buoy, or a floating vessel, are exposed to several dynamic loads, and viscoelastic damping material is used to reduce the vibration of offshore structures. It is important to know the properties of viscoelastic materials because loss factor and Young's modulus of the viscoelastic damping material are dependent on frequency and temperature. In this study, an advanced technique for obtaining accurate loss factor and Young's modulus of the viscoelastic damping material is introduced based on a multi degree of freedom curve-fitting method and the RKU (Ross-Kerwin-Ungar) equations. The technique is based on a modified experimental procedure from ASTM E 756-04. Loss factor and Young's modulus of the viscoelastic damping material are measured for different temperatures by performing the test in a temperature-controlled vibration measurement room where temperature varies from 5 to 45 degrees Celsius.

• The KIPS Transactions:PartD
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• v.13D no.7 s.110
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• pp.923-930
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• 2006

In this paper we design the system test model for the weapon system embedded software based on the Time Factor Method(TFM) considering time factors and suggest the results through the case study. For doing this, we discuss the features, system tests and the object-oriented model based UML notations of the weapon system embedded software. And we give a test method considering time factors, a measuring method to time factors, and a test case selection algorithm as an approach to the TFM for designing the system test model. The TFM based system test model consists of three factors (X, Y, Z) in the weapon system embedded software. With this model, we can extract test cases through the selection algorithm for a maximum time path in 'X', identify the objects related to the Sequence Diagram in 'Y' and measure the execution time of each objects which is identified by the Timing Diagram in 'Z' Also, we present the method of extracting the system test cases by applying the proposed system test model to the 'Multi-function missile defense system'.

• Elastomers and Composites
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• v.51 no.1
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• pp.43-48
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• 2016

Multi-Surface (MS) treatment is a new technique of surface treatment to reduce the static friction factor on the surface of rubber. MS treatments include 4 methods which names are MS-V (UV-irradiation on the rubber surface), MS-M (doing the chemical reaction with double bond of rubber), MS-Q (dilution of rubber surface by silicone surfactant), and MS-P (coating and heating of rubber surface). The experiment and test of every MS-treatment had been carried out using acrylonitrile-butadiene rubber (NBR), ethylene-propylene-diene rubber (EPDM), and chlorosulphonated rubber (CSM) as rubber materials. It had introduced the steps of every MS-treatment process and the result of the properties test. From the research, it was found that the best method was MS-V treatment because it suited all the samples and the effect was obviously.

• Journal of the Korean Society for Railway
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• v.16 no.6
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• pp.466-472
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• 2013

The use of a concrete track is gradually growing in urban and high-speed railways in many part of the world. The resilient pad, which is essentially when concrete tracks are used, plays the important role of relieving the impact caused by train loads. The simple fatigue test[1] to estimate the variable stiffness of resilient pads is usually performed, but it differs depending on the practical conditions of different railways. In this study, the static stiffness levels of used resilient pads according to passing tonnages levels were measured in laboratory tests. Also, the simple fatigue test and the multi-stress accelerated degradation test for new resilient pads were performed in a laboratory. The static stiffness of the used pad was compared with the results of tests of usage times and cycles. The results of the comparison showed that the variable static stiffness levels of the used pad were similar to results of the multi-stress accelerated degradation test considering the fatigue and heat load. With a T-NT equation related to the degree of the multi-stress accelerated degradation, a model of multi-stress accelerated degradation for a resilient pad was devised. It was found through this effort that the total acceleration factor was approximately 2.62. Finally, this study proposes an equation for a multi-stress accelerated degradation model for polyurethane resilient pads.

• The Journal of Engineering Geology
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• v.29 no.3
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• pp.237-249
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• 2019

The roughness changes on a fracture surface were analyzed via a multi-stage compression test under high temperatures to assess how the cracks in a rock mass affect groundwater movement. The analyzed samples consist of coarse granitic rocks from approximately 40 and 270 m depth, and fine granitic rocks from 500 m depth. The compression test was conducted on $20{\times}40{\times}5mm$ samples using a loading system where the pressure increases in 10 MPa increments to 120 MPa. A high-resolution 3D confocal laser scanning microscope (CLSM) was used to observe the surface changes, including the roughness changes, at each pressure step. The roughness change was calculated based on the roughness factor. The experimental results indicate that the roughness of the fracture surface varies with rock type under the stepwise pressure conditions. These data provide a basis for predicting groundwater flow along rock fractures.

• Transactions of the Korean Society of Mechanical Engineers A
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• v.23 no.11 s.170
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• pp.1952-1959
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• 1999

The work factor approach, so-called single specimen technique could be used to determine energy release rate from a single test record for unidirectional CLS specimen. In the present study, the work factor approach was extended to determine the mixed-mode fracture toughness of multi-directional graphite/epoxy laminated composites. Multi-directional CLS specimens were used for fracture tests. The stacking sequences used for the lap and the strap were $[90_2/0_2]_s/[0_4/90_4]_s$ and $[0/\pm45/0]_s/[0_2/\pm45_2/0_2]_2$, respectively. For both cases, the fracture toughness determined from the work factor approach was compared with that determined from the compliance method. It was found that both methods produced fracture toughness within a maximum 15% difference for each stacking sequence. The fractography analysis also showed that the fiber bridging occurred for$[0/\pm45/0]_s/[0_2/\pm45_2/0_2]_2$ case while it did not occur for $[90_2/0_2]_s/[0_4/90_4]_s$ case.

• Journal of the Korea institute for structural maintenance and inspection
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• v.15 no.2
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• pp.70-78
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• 2011

The paper aims at developing a more reliable and accurate BWIM(Bridge Weigh-In-Motion) algorithm using measured strain data and examining its efficiency with various tests on bridges. It proposes a BWIM algorithm using density estimation function and average modification factor for moment-strain relationship. Density estimation function has been proved to be reliably applied when multiple axle loads are estimated. An average modification factor is applied to minimize overall error that can be encountered between theoretically computed moments and measured strains at multiple locations in a bridge. The developed algorithm has been successfully examined through numerical simulations, laboratory tests, and also by field tests on a multi-girder composite bridge.

• Journal of the Korean Home Economics Association
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• v.33 no.4
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• pp.49-64
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• 1995

The purpose of this study was to develop the Daily Hassles Scale for children in Korea. The subject were 444 children of 184 fourth graders and 260 sixth graders selected form five elementary schools in Seoul(217 male and 227 female). A questionnaire consisting of 90-item daily hassles scale, demographic questions, and some additional questions was used as a methodological instrument. statistics used for data analysis were X2, cramer's V, factor analysis, multi-regression, Pearson's r, Cronbach's α. The major findings of this study were as follows. 1) 87 items of the 90-item scale were acceptible through item discriminant method. The discriminant coefficients of the items(Cramer's V) ranged form .28 to .73. 2) 6 factors(parents, home environment, friends, studies, teachers & school, the surroundings) were extracted from factor analysis. Multi-regression analysis conducted to reduce the length of scale have drawed 42 items for 'the Daily Hassles Scale for Children in Korea'. The correlation between this scale and the Quality of Life Scale(Olson & Barnes, 1982) was conducted to test the criterion-related validity, and the coefficient was significant(r=-.52, p<.001).3) Finally, reliability coefficients(Cronbach'α) of this scale was. 85.