• Asia-Pacific Journal of Business
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• v.9 no.4
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• pp.85-97
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• 2018

This paper investigates factors underlying a decrease in trading values in KOSPI 200 futures/options market on the basis of the current state of the markets. Among the factors that could affect trading values in KOSPI 200 derivatives market, we focus on the market activity of underlying assets as it has an impact on the trading of financial derivatives. Trading value and volatility are designated as market activity and the empirical results confirm that the market activity of the underlying assets is significant in explaining the decrease in trading values in KOSPI 200 futures/options market. To figure out fundamental reasons of the decrease in trading values in this market, we examine mitigation of home bias and decrease in leverage incentives as they are presumed to have influence on KOSPI 200 index market. As the global and local financial environment is time-varying, the degree of home bias and the leverage demand also changes. It implies that institutional change and/or policy effort to promote the trading of KOSPI 200 financial derivatives should be made taking into account the fact that considerable portion of the change in trading values in financial derivatives market depends on the state of the market.

• Environmental Engineering Research
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• v.24 no.2
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• pp.220-237
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• 2019

Solid waste management (SWM) is one of the poorly rendered services in developing countries - limited resources, increasing population, rapid urbanization and application of outdated systems leads to inefficiency. Lack of proper planning and inadequate data regarding solid waste generation and collection compound the SWM problem. Decision makers need to formulate solutions that consider multiple goals and strategies. Given the large number of available options for SWM and the inter-relationships among these options, identifying SWM strategies that satisfy economic or environmental objectives is a complex task. The paper develops a mathematical model for a municipal Integrated SWM system, taking into account waste generation rates, composition, transportation modes, processing techniques, revenues from waste processing, simulating waste management as closely as possible. The constraints include those linking waste flows and mass balance, processing plants capacity, landfill capacity, transport vehicle capacity and number of trips. The linear programming model integrating different functional elements was solved by LINGO optimization software and various possible waste management options were considered during analysis. The model thus serves as decision support tool to evaluate various waste management alternatives and obtain the least-cost combination of technologies for handling, treatment and disposal of solid waste.

• Progress in Superconductivity and Cryogenics
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• v.21 no.1
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• pp.25-30
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• 2019

This paper presents a conceptual design approach of air-cored synchronous machine with high temperature superconductor (HTS) field winding. With a given configuration of a target machine, boundary conditions are set in the cylindrical coordinate system and analytic field calculation is performed by solving a governing equation. To set proper boundary conditions, current distributions of the field winding and the armature winding are expressed by the Fourier expansion. Based on analytic magnetic field calculation results, key machine parameters are calculated: 1) inductance, 2) critical current of field winding, 3) weight, 4) HTS conductor consumption, and 5) efficiency. To investigate all potential design options, 6 sweeping parameters are determined to characterize the geometry of the machine and the parameter calculation process is performed for each design options. Among design options satisfying constraints including >80 % critical current margin and >95 % efficiency, in this paper, a first-cut design was selected in terms of overall machine weight and HTS conductor consumption to obtain a lightweight and economical design. The goal is to design a 5-MW machine by referring to the same capacity machine that was previously constructed by another group. Our design output is compared with finite element method (FEM) simulation to validate our design approach.

• 한국지구물리탐사학회:학술대회논문집
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• 2003.11a
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• pp.590-597
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• 2003

Processing and smelting of copper containing sulphide concentrates result in the accumulation of impurities into various process streams. All primary copper smelters and refineries around the world produce significant amounts of slag, dust, sludge, residues and others, which contain copper and precious metals. The recovery of these valuable metals is essential to the overall economics of the smelting process. Physical, chemical and mineralogical characterization of particular slag and Cottrell dusts from primary smelters and $Dor\'{e}$ furnace (TBRC) slag and Pressure Leached Anode slimes from a copper refinery have been carried out to understand the basic behind the recovery processes. Various process options have been evaluated and adapted for the treatment of slag from different smelting furnaces and Cottrell dusts as well as the intermediate products from copper refineries. Besides the hydro- or pyro-metallurgical treatments, the above mentioned physical separation options such as magnetic, gravity separation, flotation and precipitation flotation processes have been successfully identified and adapted as the possible process options to produce a Cu-rich or precious metal-rich concentrates for in-house recycling and other valued by-product for further treatment. The results of laboratory, pilot plant and production operations are presented, and incorporation of several alternative flowsheet is discussed in this paper.

• Archives of Plastic Surgery
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• v.50 no.1
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• pp.70-81
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• 2023

Background The clinical results of conservative treatment options for ulnar compression at the elbow have not been clearly determined. The aim of this review was to evaluate available conservative treatment options and their effectiveness for ulnar nerve compression at the elbow. Methods In accordance with the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) recommendations, a systematic review and meta-analysis of studies was performed. Literature search was performed using Ovid MEDLINE, Embase, and Cochrane Central Register of Controlled Trials (CENTRAL). Results Of the 1,079 retrieved studies, 20 were eligible for analysis and included 687 cases of ulnar neuropathy at the elbow. Improvement of symptoms was reported in 54% of the cases receiving a steroid/lidocaine injection (95% confidence interval [CI], 41-67) and in 89% of the cases using a splint device (95% CI, 69-99). Conclusions Conservative management seems to be effective. Both lidocaine/steroid injections and splint devices gave a statistically significant improvement of symptoms and are suitable options for patients who refuse an operative procedure or need a bridge to their surgery. Splinting is preferred over injections, as it shows a higher rate of improvement.

• Proceedings of the Korean Institute of Resources Recycling Conference
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• 2003.10a
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• pp.22-34
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• 2003

Processing and smelting of copper containing sulphide concentrates result in the accumulation of impurities into various process streams. All primary copper smelters and refineries around the world produce significant amounts of slag, dust, sludge, residues and others, which contain copper and precious metals. The recovery of these valuable metals is essential to the overall economics of the smelting process. Physical, chemical and mineralogical characterization of particular slag and Cottrell dusts from primary smelters and Dore furnace (TBRC) slag and Pressure Leached Anode slimes from a copper refinery have been carried out to understand the basic behind the recovery processes. Various process options have been evaluated and adapted for the treatment of slag from different smelting furnaces and Cottrell dusts as well as the intermediate products from copper refineries. Besides the hydro- or pyre-metallurgical treatments, the above mentioned physical separation options such as magnetic, gravity separation, flotation and precipitation flotation processes have been successfully identified and adapted as the possible process options to produce a Cu-rich or precious metal-rich concentrates for in-house recycling and other valued by-product for further treatment. The results of laboratory, pilot plant and production operations are presented, and incorporation of several alternative flowsheet is discussed in this paper.

• Journal of Korea Technology Innovation Society
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• v.20 no.3
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• pp.732-753
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• 2017

Recently, when evaluating the technology values in the fields of biotechnology, pharmaceuticals and medicine, we have needed more to estimate those values in consideration of the period and cost for the commercialization to be put into in future. The existing discounted cash flow (DCF) method has limitations in that it can not consider consecutive investment or does not reflect the probabilistic property of commercialized input cost of technology-applied products. However, since the value of technology and investment should be considered as opportunity value and the information of decision-making for resource allocation should be taken into account, it is regarded desirable to apply the concept of real options, and in order to reflect the characteristics of business model for the target technology into the concept of volatility in terms of stock price which we usually apply to in evaluation of a firm's value, we need to consider 'the continuity of stock price (relatively minor change)' and 'positive condition'. Thus, as discussed in a lot of literature, it is necessary to investigate the relationship among volatility, underlying asset values, and cost of commercialization in the Black-Scholes model for estimating the technology value based on real options. This study is expected to provide more elaborated real options model, by mathematically deriving whether the ratio of the present value of the underlying asset to the present value of the commercialization cost, which reflects the uncertainty in the option pricing model (OPM), is divided into the "no action taken" (NAT) area under certain threshold conditions or not, and also presenting the estimation logic for option values according to the observation variables (or input values).

• Journal of Venture Innovation
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• v.7 no.1
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• pp.17-39
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• 2024

The purpose of this study was to analyze the effect of the government's R&D support and the use of stock options by venture companies on the innovation of venture companies, that is, innovation capabilities and innovation performance. An empirical analysis was conducted using the partial least squares structural equation modeling (PLS-SEM) method using the data from the detailed survey of venture companies conducted on domestic venture confirmation companies. As a result of the analysis, it was found that the benefit of government R&D support had a positive (+) effect on strengthening the innovation capabilities of venture companies, and R&D support also had a positive (+) effect on the innovation performance of venture companies. Next, it was found that the use of stock options by venture companies had a positive (+) effect on the reinforcement of the innovation capabilities of companies and a positive (+) effect on the innovation performance of venture companies. In addition, it was found that the innovation capabilities of venture companies significantly mediate between the government's R&D support and the use of stock options by venture companies and the innovation performance of companies. These analysis results show that the government's R&D support and the use of stock option systems can play a meaningful role in the innovation of venture companies, and also show that the innovation capabilities of venture companies have an important meaning in the process of innovation. Therefore, it is necessary to continue the stance of R&D support for ventures and at the same time to introduce multi-faceted policy measures to support corporate capacity building, and legal and institutional maintenance and policy support to revitalize the stock option system need to be continuously provided.

• Proceedings of the Korean Society for the Gifted Conference
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• 1994.08b
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• pp.261-274
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• 1994

• The Korean Nurse
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• v.26 no.4 s.142
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• pp.56-58
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• 1987