• 국제학술발표논문집
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• The 4th International Conference on Construction Engineering and Project Management Organized by the University of New South Wales
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• pp.534-541
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• 2011

Risk evaluation approaches for bidding on international construction projects are typically partitioned into three stages: country selection, project classification, and bid-cost evaluation. However, previous studies are frequently under attack in that they have several crucial limitations: 1) a dearth of studies about country selection risk tailored for the overseas construction market at a corporate level; 2) no consideration of uncertainties for input variable per se; 3) less probabilistic approaches in estimating a range of cost variance; and 4) less inclusion of covariance impacts. This study thus suggests a three-staged risk evaluation model to resolve these inherent problems. In the first stage, a country portfolio model that maximizes the expected construction market growth rate and profit rate while decreasing market uncertainty is formulated using multi-objective genetic analysis. Following this, probabilistic approaches for screening bad projects are suggested through applying various data mining methods such as discriminant logistic regression, neural network, C5.0, and support vector machine. For the last stage, the cost overrun prediction model is simulated for determining a reasonable bid cost, while considering non-parametric distribution, effects of systematic risks, and the firm's specific capability accrued in a given country. Through the three consecutive models, this study verifies that international construction risk can be allocated, reduced, and projected to some degree, thereby contributing to sustaining stable profits and revenues in both the short-term and the long-term perspective.

• 대한안전경영과학회지
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• 제4권2호
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• pp.11-22
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• 2002

In this study, an asymmetric lifting posture prediction model was developed, which was a three-dimensional model with 12 links and 23 degrees of freedom open kinematic chains. Although previous researchers have proposed biomechanical, psychophysical, or physiological measures as cost functions, for solving redundancy, they lack in accuracy in predicting actual lifting postures and most of them are confined to the two-dimensional model. To develop an asymmetric lifting posture prediction model, we used the resolved motion method for accurately simulating the lifting motion in a reasonable time. Furthermore, in solving the redundant problem of the human posture prediction, a moment weighted Joint Range Availability (JRA) was used as a cost function in order to consider dynamic lifting. However, it is known that the moment weighted JRA as a cost function predicted the lower extremity and L5/S1 joint motions better than the upper extremities, while the constant weighted JRA as a cost function predicted the latter better than the former. To compensate for this, we proposed a hybrid moment weighted JRA as a new cost function with moment weighted for only the lower extremity. In order to validate the proposed cost function, the predicted and real lifting postures for various lifting conditions were compared by using the root mean square(RMS) error. This hybrid JRA reduced RMS more than the previous cost functions. Therefore, it is concluded that the cost function of a hybrid moment weighted JRA can be used to predict three-dimensional lifting postures. To compare with the predicted trajectories and the real lifting movements, graphical validations were performed. The results also showed that the hybrid moment weighted cost function model was found to have generated the postures more similar to the real movements.

• Journal of Preventive Veterinary Medicine
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• 제42권4호
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• pp.163-170
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• 2018

The cost-effectiveness of foot-and-mouth disease (FMD) control strategies was evaluated using a simulation model fitted to the 2010/11 FMD epidemic in the city of Andong, Republic of Korea. Seven FMD-control strategies were evaluated with respect to the direct cost of a FMD-control strategy, such as slaughtering, movement restriction, and vaccination. All the strategies included pre-emptive slaughtering, movement restriction, and vaccination, but the levels of each control option were different. The simulated median cost of the baseline FMD-control strategy (three kilometers of pre-emptive slaughtering area, 100 days of movement restriction and vaccination of all FMD-susceptible animals in the study area) was estimated to be USD 99.7 million. When a five kilometer vaccination area was applied (with the other control measures being the same as the baseline strategy), the simulated median cost was reduced to USD 81.1 million from USD 99.7. The simulated median costs were USD 107.6 million for a five kilometer radius slaughtering area and USD 168.8 million for 60 days of movement restriction. The FMD-control strategy cost decreased with increasing number of farms depopulated per day. The probability of passive surveillance being effective or the probability of the successful implementation of movement restrictions were increased. Cost-effectiveness analysis is a suitable tool for evaluating the financial consequences of FMD-control strategies by comparing the cost of control strategies for a specific area.

• 한국병원경영학회지
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• 제25권4호
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• pp.60-75
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• 2020

Purpose: This study aims to develop a cost model for NRP (Nursing Residency Program) operation and ultimately provide evidence for financial factors for NRP operation in the future by simulating a cost model. Methodology: This study developed a model for the NRP education cost calculation model based on the review of Hansen's model, which has systematically reported on the development and operation of NRP, and discussions with nursing education experts at a university-affiliated hospital. With the simulation, it was intended to predict nurses' supply and demand in the long term and to calculate changes in long-term education costs. Findings: Firstly, turnover model, term model, cost model necessary for calculating a model for the NRP education cost calculation model was set up. Secondly, the simulation showed the following results; 1) the proportion of newly graduated nurses less than 5 years of working decreases gradually over time, which will make the composition of nurses more balanced. 2) In the first year of the partial introduction of NRP, the cost of training new nurses was about 2.1 times higher than before. After the introduction, the training cost in the 13th year began to be lesser than before the introduction, and in the 25th year, it decreased by 28.1% compared to before the introduction. Practical Implications: Firstly, NRP would be an effective way to solve the higher turnover and frequent departure of new nurses and the imbalance of nurses' composition. Secondly, although the costs of NRP are incurred in the early stages, in the end, NRP training costs are reduced compared to before the introduction of NRP. It is necessary to systematically understand the contribution effect of NRP by analyzing the economic value of NRP considering financial and non-monetary returns in the future and providing a basis for decision-making related to NRP implementation.

• Journal of Korea Trade
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• 제27권1호
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• pp.1-18
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• 2023

Purpose - Using a sample of Korean multinational corporations, we examine whether the relationship between tax risk and the implied cost of capital discriminates between the environmental, social, and corporate governance (ESG) of highly rated firms. Design/methodology - Firms with high tax risks have an increased uncertainty of future cash flows. Therefore, as the volatility of future cash flow increases, information asymmetry and the required return increases. Highly rated ESG firms can reduce information asymmetry, thereby weakening the positive relationship between tax risk and cost of capital. We employ the standard deviation of the cash effective tax rate as proxy of tax risk. We utilize the ESG rating data of the Korea Corporate Governance Service (KCGS). We use a PEG model, MPEG model, and GM model to measure the implied cost of capital. Findings - We find a positive association between the implied cost of capital and tax risk. The positive relationship between tax risk and the implied cost of capital weakens in highly rated ESG firms. Highly rated ESG firms prefer a stable tax position to invest after-tax cash flows into sustainable management. Therefore, the negative effects of tax risk on cost of capital can be reduced. Originality/value - This study provides empirical evidence that ESG activities can mitigate the negative impact of tax risk on the cost of capital for Korean multinational corporations. In a business environment where ESG activities are more important, the empirical results that ESG activities can reduce the corporate risk of Korean FDI companies are expected to provide implications for the ESG activities of multinational corporations.

• Investigative Magnetic Resonance Imaging
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• 제23권3호
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• pp.179-201
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• 2019

Portable low-cost magnetic resonance imaging (MRI) systems have the potential to enable "point-of-care" and timely MRI diagnosis, and to make this imaging modality available to routine scans and to people in underdeveloped countries and areas. With simplicity, no maintenance, no power consumption, and low cost, permanent magnets/magnet arrays/magnet assemblies are attractive to be used as a source of static magnetic field to realize the portability and to lower the cost for an MRI scanner. However, when taking the canonical Fourier imaging approach and using linear gradient fields, homogeneous fields are required in a scanner, resulting in the facts that either a bulky magnet/magnet array is needed, or the imaging volume is too small to image an organ if the magnet/magnet array is scaled down to a portable size. Recently, with the progress on image reconstruction based on non-linear gradient field, static field patterns without spatial linearity can be used as spatial encoding magnetic fields (SEMs) to encode MRI signals for imaging. As a result, the requirements for the homogeneity of the static field can be relaxed, which allows permanent magnets/magnet arrays with reduced sizes, reduced weight to image a bigger volume covering organs such as a head. It offers opportunities of constructing a truly portable low-cost MRI scanner. For this exciting potential application, permanent magnets/magnet arrays have attracted increased attention recently. A magnet/magnet array is strongly associated with the imaging volume of an MRI scanner, image reconstruction methods, and RF excitation and RF coils, etc. through field patterns and field homogeneity. This paper offers a review of permanent magnets and magnet arrays of different kinds, especially those that can be used for spatial encoding towards the development of a portable and low-cost MRI system. It is aimed to familiarize the readers with relevant knowledge, literature, and the latest updates of the development on permanent magnets and magnet arrays for MRI. Perspectives on and challenges of using a permanent magnet/magnet array to supply a patterned static magnetic field, which does not have spatial linearity nor high field homogeneity, for image reconstruction in a portable setup are discussed.

• Korean Journal of Radiology
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• 제24권12호
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• pp.1249-1259
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• 2023

Objective: This study aimed to evaluate the clinical outcomes and cost-effectiveness of dual-energy X-ray absorptiometry (DXA) for osteoporosis screening. Materials and Methods: Eligible patients who had and had not undergone DXA screening were identified from among those aged 50 years or older at Kaohsiung Veterans General Hospital, Taiwan. Age, sex, screening year (index year), and Charlson comorbidity index of the DXA and non-DXA groups were matched using inverse probability of treatment weighting (IPTW) for propensity score analysis. For cost-effectiveness analysis, a societal perspective, 1-year cycle length, 20-year time horizon, and discount rate of 2% per year for both effectiveness and costs were adopted in the incremental cost-effectiveness (ICER) model. Results: The outcome analysis included 10337 patients (female:male, 63.8%:36.2%) who were screened for osteoporosis in southern Taiwan between January 1, 2012, and December 31, 2021. The DXA group had significantly better outcomes than the non-DXA group in terms of fragility fractures (7.6% vs. 12.5%, P < 0.001) and mortality (0.6% vs. 4.3%, P < 0.001). The DXA screening strategy gained an ICER of US$ -2794 per quality-adjusted life year (QALY) relative to the non-DXA at the willingness-to-pay threshold of US$ 33004 (Taiwan's per capita gross domestic product). The ICER after stratifying by ages of 50-59, 60-69, 70-79, and ≥ 80 years were US$ -17815, US$ -26862, US$ -28981, and US$ -34816 per QALY, respectively. Conclusion: Using DXA to screen adults aged 50 years or older for osteoporosis resulted in a reduced incidence of fragility fractures, lower mortality rate, and reduced total costs. Screening for osteoporosis is a cost-saving strategy and its effectiveness increases with age. However, caution is needed when generalizing these cost-effectiveness results to all older populations because the study population consisted mainly of women.

• 한국전문물리치료학회지
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• 제13권3호
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• pp.67-74
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• 2006

The purpose of this study was to investigate the effects of walking aid on hemiplegic gait of chronic stroke patients. Twelve stroke patients participated in this study. Physiological cost index (PCI), gait speed, and climbing stairs with and without walking aid were measured and analyzed. The results showed that walking with walking aid significantly improved gait speed and reduced physiological cost index and time needed to climb stair (height 7 cm) in comparison with a walking without walking aid. In conclusion, walking aid may improve the speed and efficiency of hemiplegic gait in chronic stroke patients.

• Asian-Australasian Journal of Animal Sciences
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• 제10권2호
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• pp.157-163
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• 1997

This paper analyses a number of important areas relating to methane production in ruminants, consequent hazards and different methods of reducing this gas. Clearly methane not only affects on the environment but also on the economy of animal production. Several factors including feed, species, microbes, rumen environment, etc. are responsible for methane production in animals. Although methane production can be reduced by chemical manipulation, defaunation and strategic feeding, the latter was found to be effective because the method is easier to follow than the others. Furthermore, feeding technology could play an important role in reducing methane production particularly in developing countries because of its relative cost effectiveness. however, it needs to compare to what extent it could reduce methane production as well as cost of animal production. Therefore, research program needs to be concentrated on the appropriate feeding system to reduce methane production, consequently pollution and cost of production particularly in developing countries.

• 한국컴퓨터정보학회논문지
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• 제22권9호
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• pp.25-32
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• 2017

In this paper, we propose the softwareization of broadcasting system. Recently, the topic of industry is the fourth industrial revolution. The fourth industrial revolution is evolving from physical to virtualization. The Industrial Revolution is based on IT technology. Artificial Intelligence (AI), Big Data, and the Internet of Things, which are famous for Alpha Go, are based on software. Among IT, software is the main driver of industrial terrain change. The systemization of software on the basis of cloud environment is proceeding rapidly. System development through softwarization can reduce time to market lead time, hardware cost reduction and manual operation compared to existing hardware system. By developing and implementing broadcasting system such as IPTV based on cloud, lead time for opening service compared to existing hardware system can be shortened by more than 90% and investment cost can be saved by about 40%. In addition, the area of the system can be reduced by 50%. In addition, efficiency can be improved between infrastructures, shortening of trouble handling and ease of maintenance. Finally, we can improve customer experience through rapid service opening.