• The Journal of Asian Finance, Economics and Business
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• v.7 no.9
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• pp.105-115
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• 2020

The study empirically examines the effects of loan portfolio diversification on bank risk and return in the nascent banking market of Vietnam. Loan portfolio diversification is captured through the Hirschman-Herfindahl index and the Shannon Entropy with sectoral exposures. We access each bank's financial reports to collect the required data, especially the breakdown of sectoral loan portfolios, thus constituting a unique dataset. To compute bank return, we use the traditional accounting indicators, including return-on-assets, return-on-equity, and net-interest margin. For bank risk, we utilize the loan-loss provisions and non-performing loans relative to gross customer loans. Using a sample of 30 commercial banks over the period from 2008 to 2019 and the system generalized method of moments estimator for the dynamic panel, we indicate the downsides of portfolio diversification. Concretely, we observe that all diversification measures exhibit significantly negative signs in all regressions across different bank return proxies. At the same time, the estimates display the significant and positive impact of diversification on the non-performing loan ratio. Hence, sectoral loan portfolio diversification significantly hampers bank performance in both aspects of lower return and higher credit risk. The results are robust across a rich set of bank performance and portfolio diversification measures.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.10
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• pp.63-71
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• 2020

In this paper, we propose the new time-varying coefficient GARCH-in-Mean model. The benefit of our model is to allow the risk-return parameter in the mean equation to vary over time. At the end of 2019 to the beginning of 2020, the world witnessed two shocking events: COVID-19 pandemic and 2020 oil price war. So, we decide to use the daily data from December 2, 2019 to May 29, 2020, which cover these two major events. The purpose of this study is to find the dynamic movement between risk and return in four major oil markets: Brent, West Texas Intermediate, Dubai, and Singapore Exchange, during COVID-19 pandemic and 2020 oil price war. For the European oil market, our model found a significant and positive risk-return relationship in Brent during March 26-April 21, 2020. For the North America oil market, our model found a significant positive risk return relationship in West Texas Intermediate (WTI) during March 12-May 8, 2020. For the Middle East oil market, we found a significant and positive risk-return relationship in Dubai during March 12-April 14, 2020. Lastly, for the South East Asia oil market, we found a significant positive risk return relationship in Singapore Exchange (SGX) from March 9-May 29, 2020.

• Transactions of the Korean Society of Mechanical Engineers B
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• v.32 no.12
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• pp.907-914
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• 2008

This study is mainly focused on the assessment of return, semi return, and returnless fuel supply system for an LPi engine. In order to compare the return type with returnless one with various LPG blends, combustion analysis and cyclic THC emission characteristic were tested at the part load operating condition of the LPi engine. Considering heat balance of each fuel supply systems, pressure and temperature increment of return type showed lower at the fuel rail during idle warm up operation. However, those of returnless type at LPG tank maintained stable and slow increment because the heat transfer from the LPi engine was minimized. Finally, hot restartability of each fuel supply systems were evaluated with the various LPG blends and fuel temperatures. As a result, semi return type has equivalent performance to return type considering combustion and emission characteristic, hot restartability performance for LPi engine.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.18 no.36
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• pp.349-363
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• 1995

The purpose of the study was to estimate and analyze the rates of return to educational investment. The study was designed to estimate the social and private rates of return to educational investment by school level and sex in order to measure education's economic value with a viewpoint of human capital theory. The produced result of this study are as follows. The social rates of return to education turned out to be male high school 7.94%, male junior college 3.74%, male university 8.50% female high school 4.30%, female junior college 10.11%, female university 6.92%. The private rates of return to education turned out to be male high school 8.41%, male junior college 3.39%, male university 8.38%, female high school 7.90%, female junior college 10.34%, female university 7.33%, In order to measure economic value of educational investment, rates of return to education were compared with those to physical capital investment. Social rates of return to education turned out to be profitable for female junior college, while for private rates of return to education turned out to be profitable in all school levels except for male junior college.

• Safety and Health at Work
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• v.9 no.3
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• pp.347-351
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• 2018

Background: The success of an injury intervention program can be measured by the proportion of successful return to work (RTW). This study examined factors of successful return to employment among workers suffering from work-related injuries. Methods: Data were obtained from the Social Security Organization, Malaysia database consisting of 10,049 RTW program participants in 2010-2014. The dependent variable was the RTW outcome which consisted of RTW with same employer, RTW with new employer or unsuccessful return. Multinomial logistic regression was performed to test the likelihood of successful return with same employer and new employer against unsuccessful return. Results: Overall, 65.3% of injured workers were successfully returned to employment, 52.8% to the same employer and 12.5% to new employer. Employer interest; motivation; age 30-49 years; intervention less than 9 months; occupational disease; injuries in the lower limbs, upper limbs, and general injuries; and working in the manufacturing, services, and electrical/electronics were associated with returning to work with the same employer against unsuccessful return. Male, employer interest, motivation, age 49 years or younger, intervention less than 6 months, occupational disease, injuries in the upper limbs and services sector of employment were associated with returning to new employer against unsuccessful return. Conclusion: There is a need to strengthen employer commitment for early and intensified intervention that will lead to improvement in the RTW outcome.

• International Journal of Air-Conditioning and Refrigeration
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• v.9 no.4
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• pp.37-46
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• 2001

This study numerically investigates thermal comfort of a space cooled by a floor-supply air-conditioning system, in which three different combinations of supply and return locations, one floor-supply/ceiling-return and two floor-supply/floor-return, are treated. A complementary experiment is performed to validate the present numerical analysis, and the prediction agrees favorably with the measured data. In the numerical procedure, a simplified model mimicking the inlet flow through a diffuser is developed for efficient simulations. The calculated results show that the ceiling-return type is far better in terms of thermal comfort than the floor-return ones within the extent of this study, which seems to be caused by effective vertical penetration of the supply air against natural convection. It is also revealed that the arrangement of port locations in the floor-supply/floor-return system has insignificant effect on the cooling performance. For selecting a proper system, other characteristics including the heating performance should be accounted for simultaneously with the present considerations.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.40 no.1
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• pp.50-56
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• 2017

The IRR (internal rate of return) is often used by investors for the evaluation of engineering projects. Unfortunately, it is widely known that it has serial flaws. Also, External rate of returns (ERRs) such as ARR (Average Rate of Return) or MIRR (MIRR, Modified Internal Rate of Return) do not differentiate between the real investment and the expenditure. The PRR (Productive rate of return) is faithful to the conception of the return on investment. The PRR uses the effective investment instead of the initial investment. In this paper, we examined two cases of the engineering project. the one is a traditional engineering project with financing activity, another is the project with R&D. Although the IRR has only one value, it overestimates or underestimate profitabilities of Engineering Projects. The ARR and the MARR assume that a returned cash reinvest other projects or assets instead of the project currently executing. Thus they are only one value of a project's profitability, unlike the IRR. But the ARR does not classify into the effective investment and non-investment expenditure. It only accepts an initial expenditure as for an investment. The MIRR also fails to classify into the investment and the expenditure. It has an error of making a loss down as the investment. The IRR works as efficiently as a NPW (Net Present Worth). It clearly expresses a rate of return in respect of an investment in an engineering project with a loan. And it shows its ability in an engineering project with a R&D investment.

• Journal of Digital Convergence
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• v.12 no.6
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• pp.115-123
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• 2014

The first, this study analyzed empirically the effects of net profit on sales, total asset turnover and debt ratio on return on equity, the second, verified debt' s mediating effect on return on investment and return on equity and finally, tested the effect of adjusted debt ratio on return on equity in the small medium sized enterprises. Generally speaking, using debt has a positive effect on return on equity. Meanwhile, using debt accelerate return on equity through leverage effect in the quadric function curve model. Eventually, using debt has a positive and negative effects on return on equity. Accordingly, because of the debt' janus-faced reality, using debt is restricted within the level that operating cash flow(or return on asset) excess interest(or rate of interest).

• Journal of Fashion Business
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• v.7 no.4
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• pp.26-42
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• 2003

On-line clothes sale are on the increase, and the returns(for replacements or refunds) of the clothes are also increasing. Many studies on off-line consumers' complaints were made before, but few studies on the returns of clothes sold on-line have been made. From this viewpoint, this study was conducted to know what effect returns of clothes sold on-line have on their brands. Therefore, this study was first focused on the factors affecting complaint acts(return intention or return acts) such as lack of information and recognition of product, delivery errors and product defects concerning on-line sales, and second investigated the changes of buyers' attitude toward the brand following the their acts of returning the buyers, and third looked into the changes of on-line buyers' attitude toward the brand. The study is carried out by subdividing the objects of the study into return action(replacement, refundment) and purchasers who experienced return intention. Such experience is demonstratively analyzed to find how it has affected the attitude toward the brand. The study comes up with the following outcomes. First, the effect factor causing complaint action(return action, return intention) on-line is shown as the lack of the information and recognition of the product. Second, it is revealed that the effect factor causing complaint(return action, return intention) does not lie in an error in delivery or a defect of a product. Third, the positive response of a brand to a return action does not raise the repurchasing intention and positive attitude of purchasers who experienced returning a product, but lowers their private complaint action intention. Fourth, the repurchase intention of purchasers who experienced return intention for the brand is lowered, but their negative attitude and private complaint action intention is not raised.

• Journal of The Korean Society of Agricultural Engineers
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• v.52 no.1
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• pp.41-49
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• 2010

Return flow rate of irrigation water was estimated by water balance method. Daepyeong pumping district to irrigate 75.8 ha of rice paddy in the Geum river basin was selected to install gauging instruments to collect data such as weather, water levels, infiltration rate and evapotranspiration during irrigation season (May 27 to Sept. 20) in 2003 and 2004. Irrigation and drainage discharge were calculated from the rating curve and evapotranspiration was estimated both by the modified Penman formula and by the lysimeter. The results were as followed : 1. Total amounts of pumping water during irrigation season were $1,076,000\;m^3$ in 2003 and $1,848,000\;m^3$ in 2004. Total amounts of rainfall were 1336.0mm and 1003.0mm respectively during the irrigation season in 2003 and 2004. 2. It was surveyed that the amount of infiltration was 196.5 mm (2.2 mm/day). The gauged evapotranspiration was 311.0 mm (3.5 mm/day) and the calculated evapotranspiration was 346.0 mm (3.9 mm/day) during irrigation period in 2003. It was surveyed that the amount of infiltration was 169.9 mm (2.4 mm/day). The amount of gauged evapotranspiration was 377.3 mm (5.3 mm/day) and the calculated evapotranspiration was 454.5 mm (6.6 mm/day) during irrigation period in 2004. 3. The rates of quick and delayed return flow were 52.4 % and 17.7 % respectively, and so return flow rate was 70.1 % in 2003. The rates of quick and delayed return flow were 45.4 % and 16.1 % respectively, and so return flow rate was 61.5 % in 2004. It means that average return flow rate in the Daepyeong pumping district was assumed to be 65 %.