• 한국중재학회지:중재연구
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• 제23권4호
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• pp.123-138
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• 2013

The surge of cross border trade and transactions has seen international arbitration fast emerging as the preferred mode of dispute resolution. This phenomenon is especially remarkable in the Asian region. The Singapore International Arbitration Centre ("SIAC") aspires to contribute to this growth as one of the leading arbitral institutions. The objective of this article is to provide an insight into the key features of SIAC Rules. This article has been divided into two parts; the first part discusses how the SIAC Rules are helpful in building bridges in international arbitration between the common law and civil law systems. We have attempted to throw light on how the SIAC Rules may be tailored by the parties to bring about a harmonization in the common law and civil law practices in the conduct of the arbitration proceedings. In the second part of the article, we discuss the two most popular procedures introduced in the SIAC Rules in 2010 i.e. 'Emergency Arbitration' and 'Expedited procedures'. The emergency arbitration provisions enable a party to obtain order(s)/award for urgent interim relief(s) upon commencement of arbitral proceedings but pending the constitution of the main Tribunal. The expedited Procedure provisions give parties the option of having their disputes determined in six (6) months from the date of the constitution of the tribunal.

• The Journal of Asian Finance, Economics and Business
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• 제6권2호
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• pp.15-24
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• 2019

This study analyzes the effect of the capital structure of Korean manufacturing firms on default risk based on Moody's KMV option pricing model where the probability of default is obtained by measuring the distance to default as a covariant in logit model developed by Merton (1974). Based on the panel data of manufacturing firms, this study achieves its primary objective, using a fixed effect regression model and examines the effect of a firm's capital structure on default risk amongst publicly listed firms on Korea exchange during 2005-2016. Empirical results obtained suggest that the rise in short-term debt to assets leads to increase the risk of default whereas the increase in long-term debt to assets leads to decrease the default risk. The benefits of short-term debt financing over a short-term period fade out in the presence of information asymmetry. However, long-term debt financing overcomes the information asymmetry and enjoys the paybacks of tax advantage associated with long-term debt. Additionally, size, tangibility and interest coverage ratio are also the important determinants of default risk. Findings support the trade-off theory of capital structure and recommend the optimal use of long-term debt in a firm's capital structure.

• Nuclear Engineering and Technology
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• 제54권3호
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• pp.803-810
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• 2022

The small modular liquid-metal fast reactor (SMFR) is an important component of advanced nuclear systems. SMFRs exhibit relatively low breeding capability and constraint space for control rod installation. Consequently, control rods are deeply inserted at beginning and are withdrawn gradually to compensate for large burnup reactivity loss in a long lifetime. This paper is committed to investigating the impact of control rod compensation operation on core neutronics characteristics. This paper presents a whole core fine depletion model of long lifetime SMFR using OpenMC and the influence of depletion chains is verified. Three control rod position schemes to simulate the compensation process are compared. The results show that the fine simulation of the control rod compensation process impacts significantly the fuel burnup distribution and absorber consumption. A control rod equivalent position scheme proposed in this work is an optimal option in the trade-off between computation time and accuracy. The control position is crucial for accurate power distribution and void feedback coefficients in SMFRs. The results in this paper also show that the pin level power distribution is important due to the heterogeneous distribution in SMFRs. The fuel burnup distribution at the end of core life impacts the worth of control rods.

• Journal of Information Processing Systems
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• 제18권5호
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• pp.637-649
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• 2022

Investors aim to increase their profitability by investing in the stock market. An adroit strategy for minimizing related risk lies through diversifying portfolio operationalization. In this paper, we propose a six-step stocks portfolio selection model. This model is based on data mining clustering techniques that reflect the ensuing impact of the political, economic, legal, and corporate governance in Mongolia. As a dataset, we have selected stock exchange trading price, financial statements, and operational reports of top-20 highly capitalized stocks that were traded at the Mongolian Stock Exchange from 2013 to 2017. In order to cluster the stock returns and risks, we have used k-means clustering techniques. We have combined both k-means clustering with Markowitz's portfolio theory to create an optimal and efficient portfolio. We constructed an efficient frontier, creating 15 portfolios, and computed the weight of stocks in each portfolio. From these portfolio options, the investor is given a choice to choose any one option.

• 한국유기농업학회지
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• 제29권4호
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• pp.507-521
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• 2021

The livestock farmers are producing under uncertainties such as Foot-and-Mouth Disease (FMD) and Free Trade Agreement (FTA). The purpose of this study is to strengthen the management capabilities of Hanwoo farmers to prepare them for the uncertainties just mentioned. To this end, this study was conducted to find the optimal rearing period in order to reduce the feed cost, which accounts for the largest portion of the operation cost of Hanwoo. Using the universal lattice model, 41,139 of 289,000 Hanwoo slaughter data from 2010 to 2019 were used for the FMD period and 246,605 heads for the general period. The results show that the maximum cutoff price of Hanwoo steer is 6,394,457 won at the 4th week of 27 months of age in general period, where as 6,242,752 won at the 2nd week of 26 months of age in the FMD period. Therefore, it is judged that it will be helpful for Hanwoo farms to maximize their business profits by slaughtering one month and two weeks earlier in the FMD period than in the general period. In addition, Hanwoo farmers need to break away from the conventional rearing method and improve their management efficiency through a more flexible rearing method.

• Asia Marketing Journal
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• 제15권3호
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• pp.159-172
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• 2013

In the present study, we apply the multiple cue probability learning (MCPL) paradigm to examine consumer learning from feedback in repeated trials. This paradigm is useful in investigating consumer learning, especially learning the relationships between the overall quality and attributes. With this paradigm, we can analyze what people learn from repeated trials by using the lens model, i.e., whether it is knowledge or consistency. In addition to introducing this paradigm, we aim to demonstrate that knowledge people gain from repeated trials with feedback is robust enough to weaken one of the most often examined contextual effects, the asymmetric dominance effect. The experiment consists of learning session and a choice task and stimuli are sport rafting boats with motor engines. During the learning session, the participants are shown an option with three attributes and are asked to evaluate its overall quality and type in a number between 0 and 100. Then an expert's evaluation, a number between 0 and 100, is provided as feedback. This trial is repeated fifteen times with different sets of attributes, which comprises one learning session. Depending on the conditions, the participants do one (low) or three (high) learning sessions or do not go through any learning session (no learning). After learning session, the participants then are provided with either a core or an extended choice set to make a choice to examine if learning from feedback would weaken the asymmetric dominance effect. The experiment uses a between-subjects experimental design (2 × 3; core set vs. extended set; no vs. low vs. high learning). The results show that the participants evaluate the overall qualities more accurately with learning. They learn the true trade-off rule between attributes (increase in knowledge) and become more consistent in their evaluations. Regarding the choice task, there is a significant decrease in the percentage of choosing the target option in the extended sets with learning, which clearly demonstrates that learning decreases the magnitude of the asymmetric dominance effect. However, these results are significant only when no learning condition is compared either to low or high learning condition. There is no significant result between low and high learning conditions, which may be due to fatigue or reflect the characteristics of learning curve. The present study introduces the MCPL paradigm in examining consumer learning and demonstrates that learning from feedback increases both knowledge and consistency and weakens the asymmetric dominance effect. The latter result may suggest that the previous demonstrations of the asymmetric dominance effect are somewhat exaggerated. In a single choice setting, people do not have enough information or experience about the stimuli, which may lead them to depend mostly on the contextual structure among options. In the future, more realistic stimuli and real experts' judgments can be used to increase the external validity of study results. In addition, consumers often learn through repeated choices in real consumer settings. Therefore, what consumers learn from feedback in repeated choices would be an interesting topic to investigate.

• 유통과학연구
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• 제14권8호
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• pp.123-128
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• 2016

Purpose - Korean Wave that overspreads around Asia and America, especially the Korean beauty wave, has reached Mongolia and Mongolian consumers. Mongolia consumers usually prefer foreign cosmetic brands to local brands, because the local brands cannot satisfy fast changing needs and wants of local consumers. Research design, data, and methodology - Based on previous studies about life style of Mongolian consumers, advertisement properties and consumer behaviors, we propose a research model and related hypothesis. In order to test hypotheses, we analyzed 366 survey data out of 376 by eliminating improper 10 responses. Factor analysis and reliability analysis was conducted by SPSS 22.0. We used multiple regression analysis and parameter analysis to test the relation between variables. Results - As exploring the Mongolian consumers' current usage of cosmetic products, we found that the customers' focus is how the products fit with their skin. Mongolian consumers often get the information about cosmetic products through TV and internet. Mongolian consumers show positive attitudes on the appearance of Korean celebrities in responsibility, while there is no significant effect on attractiveness. Mongolian consumer's behaviors toward brand have positive effect on both responsibility and attractiveness of Korean commercial celebrities. Responsibility and attractiveness of Korean commercial celebrities have positive effect on the behaviors toward advertisements of cosmetic products. Conclusions - Behaviors toward advertisements of cosmetic products have positive effect on both purchase intention and loyalty of customer. Responsibility and attractiveness of Korean commercial celebrities have positive effect on mediating variable of behavior toward advertisement and independent variable of purchase intention. Responsibility and attractiveness of Korean commercial celebrities have positive effect on mediating variable of behavior toward advertisement and independent variable of loyalty of customer. In order to improve the effect of advertisements, firms need to consider not only the technique of the model but also the image of model in regard to trust and professionalism appealing to consumers. In addition, firms need to choose the model who fits in with the image of the firms and the products and service of the firms. Finally, Mongolian consumers tend to acquire the shopping information through TV advertisements, especially featuring Korean popular stars, thus, TV advertisements can be a wise option in Mongolian cosmetic market.

• 문화기술의 융합
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• 제6권2호
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• pp.191-197
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• 2020

본 연구에서 우리는 공급자(supplier), 중간유통자(distributor) 그리고 최종 고객(customer)으로 구성되는 2 단계 공급망에서 중간유통자 입장의 재고 모형을 분석하였다. 공급자는 고객의 수요 증대를 목적으로 판매 제품에 대한 대금을 일정한 기간 동안 신용 거래를 허용하고, 중간유통자의 주문비용은 고정비 성격의 주문 비용과 운송량(주문량)에 따라 종속적으로 운송비용이 발생하는 상황을 고려하였다. 일반적으로 중간유통자 입장에서 볼 때 신용 거래를 통하여 공급자로부터 제품 대금에 대한 지불이 유예되면, 재고에 대한 투자 비용이 절감되는 효과가 발생하게 된다. 최종 고객의 수요는 중간유통자의 판매 가격에 따라 영향을 받게 되므로 중간유통자는 최종 고객의 수요를 증대 시킬 목적으로 판매 가격의 조정이 가능하게 된다. 본 연구에서는 공급자가 중간유통자에게 제품 판매 대금에 대하여 일정한 기간 동안 신용 거래를 허용하는 상황 하에서 중간유통자의 주문 비용이 고정 주문 비용과 함께 주문량에 따라 종속적으로 발생하는 운송비용을 포함한다는 가정 하에 중간유통자 측면의 경제적 주문량과 판매 가격 결정 문제를 분석하였다. 또한 문제 분석을 위하여 중간유통자의 재고는 시간이 지나감에 따라 일정한 비율로 퇴화한다는 가정 하에 중간유통자의 연간 총 이익에 대한 수리 모형을 수립하였고, 총이익을 최대화하는 경제적 주문량과 판매 가격 결정을 위한 해법을 개발하였다.

• 무역학회지
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• 제48권2호
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• pp.217-243
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• 2023

본 연구는 컨테이너 해상화물 표준장기운송계약서 내용과 쟁점에 관한 연구이다. 한국은 한진해운 파산을 계기로 컨테이너 해상화물 부분에 장기계약 제도 및 표준장기운송계약서를 제작 배포(2019)하였으며 이후 공급망 위기때에 표준장기운송계약서를 개정(2022)하였다. 표준장기운송계약서는 선화주의 이해가 달라 합의가 필요한 항목들이 존재한다. 이에 본 연구에서는 표준장기운송계약서의 주요 내용을 분석하고 선화주에게 미치는 실무적 의미를 도출하였다. 아울러 표준장기운송계약서 제정과정에서 선화주의 최대 쟁점사항인 손해배상액예정액과 최소약정물량 대한 내용 및 성격과 의미를 분석하여 선화주가 동 조항에 대한 이해가 어떻게 달라지는지 분석해 보였다. 결론적으로 선화주는 장기운송계약에 손해배상예정액을 책정할 시 매우 합리적인 수준으로 책정해야 위약벌로 손해배상청구 소송을 별도로 진행하지 않게 된다. 또한 최소약정물량 책정과 더불어 균등 배분은 선사에게 매우 중요한 항목이기에 이를 포함하되 성수기에도 화주의 추가 선복 요구를 수용할 수 있도록 하는 우대 조건이 필요하다. 아울러 화주는 위약벌 대신 다른 장기계약에서도 활용 중인 이행보증을 통해 계약의 이행을 담보하는 것도 고려해 볼 수 있을 것이다.

• 한국실내디자인학회논문집
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• 제18권2호
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• pp.50-60
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• 2009

The change of idea about overall politics, society, technology, and culture in 20th century led to the change of kitchen which is the central space of household affairs as well. Frankfurt kitchen of Margarete Schuette Lihotzky which was introduced for the first time at Germany International Trade Exhibition in 1927 functionally designed small space of $6.5m^2$ with considering move-line and convenience. This is the beginning of kitchen type which has built-in sink and cupboard that is regarded as an universal option these days, and this has extensively been applied to kitchen system throughout the world after the repetitive development in America, Sweden and Switzerland. And improved kitchen of Park Gil-Yong which was influenced by rationalism introduced from the house improvement campaign and the opening of a port which were progressed in Korea in $1919{\sim}1930$ is the first stand-up kitchen which improved the inefficiency of Korean conventional kitchen. The purpose of this study is to understand the change aspect of kitchen through the rationalization in each country by comparing the introduction background of the times, change of space for residence and kitchen, and the characteristics of kitchen plan which had influence at the turning point on the kitchen in Korea, Europe on the side of efficiency at the same period, take into consideration of our residing-culture which has rapidly been changed between tradition and modernity, and to see the direction of kitchen design which copes with the unique residential environment.