• The Korean Journal of Financial Management
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• v.25 no.3
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• pp.111-130
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• 2008

This paper compares long term equilibrium relation of KOSPI 200 which is underling stock and its futures by using general method fractional cointegration instead of existing integer cointegration. Existence of integer cointegration between two price time series gives much wider information about long term equilibrium relation. These details grasp long term equilibrium relation of two price time series as well as reverting velocity to equilibrium by observing difference coefficient of error term when it renounces from equilibrium relation. The result of this study reveals existence of long term equilibrium relation between KOSPI200 and futures which follow fractional cointegration. Difference coefficient, d, of 'two price time series error term' satisfies 0 < d < 1/2 beside bandwidth parameter, m(173). It means two price time series follow stationary long memory process. This also means impulse effects to balance price of two price time series decrease gently within hyperbolic rate decay. It indicates reverting speed of error term is very low when it bolts from equilibrium. It implies to market maker, who is willing to make excess return with arbitrage trading and hedging risk using underling stock, how invest strategy should be changed. It also insinuates that information transition between KOSPI 200 Index market and futures market does not working efficiently.

• The Journal of Korea Institute of Information, Electronics, and Communication Technology
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• v.16 no.6
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• pp.413-419
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• 2023

Light Emitting Diodes(LEDs) are widely utilized not only in lighting but also in various applications such as mobile phones, automobiles, displays, etc. The integration of LED lighting with communication, specifically Visible Light Communication(VLC), has gained significant attention. This paper presents the direct implementation and experimentation of a Vehicle-to-Vehicle(V2V) Visible Light Communication system using commonly used red and yellow LEDs in typical vehicles. Data collected from the leading vehicle, including positional and speed information, were modulated using Non-Return-to-Zero On-Off Keying(NRZ-OOK) and transmitted through the rear lights equipped with red and yellow LEDs. A photodetector(PD) received the visible light signals, demodulated the data, and restored it. To mitigate the interference from fluorescent lights and natural light, a PD for interference removal was installed, and an interference removal device using a polarizing filter and a differential amplifier was employed. The performance of the proposed visible light communication system was analyzed in an ideal case, indoors and outdoors environments. In an outdoor setting, maintaining a distance of approximately 30[cm], and a transmission rate of 4800[bps] for inter-vehicle data transmission, the red LED exhibited a performance improvement of approximately 13.63[dB], while the yellow LED showed an improvement of about 11.9[dB].

• Nuclear Engineering and Technology
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• v.55 no.11
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• pp.3940-3955
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• 2023

A new method of numerical simulating prediction and decontamination effect evaluation for abrasive jet decontamination to radioactively contaminated metal is proposed. Based on the Computational Fluid Dynamics and Discrete Element Model (CFD-DEM) coupled simulation model, the motion patterns and distribution of abrasives can be predicted, and the decontamination effect can be evaluated by image processing and recognition technology. The impact of three key parameters (impact distance, inlet pressure, abrasive mass flow rate) on the decontamination effect is revealed. Moreover, here are experiments of reliability verification to decontamination effect and numerical simulation methods that has been conducted. The results show that: ⁶⁰Co and other homogeneous solid solution radioactive pollutants can be removed by abrasive jet, and the average removal rate of Co exceeds 80%. It is reliable for the proposed numerical simulation and evaluation method because of the well goodness of fit between predicted value and actual values: The predicted values and actual values of the abrasive distribution diameter are Ф57 and Ф55; the total coverage rate is 26.42% and 23.50%; the average impact velocity is 81.73 m/s and 78.00 m/s. Further analysis shows that the impact distance has a significant impact on the distribution of abrasive particles on the target surface, the coverage rate of the core area increases at first, and then decreases with the increase of the impact distance of the nozzle, which reach a maximum of 14.44% at 300 mm. It is recommended to set the impact distance around 300 mm, because at this time the core area coverage of the abrasive is the largest and the impact velocity is stable at the highest speed of 81.94 m/s. The impact of the nozzle inlet pressure on the decontamination effect mainly affects the impact kinetic energy of the abrasive and has little impact on the distribution. The greater the inlet pressure, the greater the impact kinetic energy, and the stronger the decontamination ability of the abrasive. But in return, the energy consumption is higher, too. For the decontamination of radioactively contaminated metals, it is recommended to set the inlet pressure of the nozzle at around 0.6 MPa. Because most of the Co elements can be removed under this pressure. Increasing the mass and flow of abrasives appropriately can enhance the decontamination effectiveness. The total mass of abrasives per unit decontamination area is suggested to be 50 g because the core area coverage rate of the abrasive is relatively large under this condition; and the nozzle wear extent is acceptable.

• Broadcasting and Media Magazine
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• v.11 no.4
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• pp.104-117
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• 2006

In this Paper, we analyze the application of Interactive Data Broadcasting in DMB(Digital Multimedia Broadcasting) in the accordance with convergence of service and technology. With the acceleration of digital convergence in the Ubiquitous period substantial development of digital media technology and convergence of broadcasting and telecommunication industry are being witnessed. Consequently these results gave rise to newly combined-products such as DMB(Digital Multimedia Broadcasting), WCDMA(Wide-band code division multiple access), Wibro(Wireless Broadband Internet), IP-TV (Internet protocol TV) and HSDPA(High speed downlink packet access). The preparatory stage for the implementation of Interactive Data Broadcasting Service will be reached by the end of December, 2006. DMB is the first result of a successful convergence service between Broadcasting and Telecommunication in new media era. Multimedia technology and services are the core elements of DMB. The Data Broadcasting will not only offer various services of interactive information such News, Weather, Broadcasting Program etc, but also be linked with characteristic function of mobile phone such as calling and SMS(Short Message Service) via Return Channel.

• Korean Security Journal
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• no.24
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• pp.33-51
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• 2010

The purpose of this study was to analyze the variation of muscle function and gait ability according to regular spinal stabilization exercise program for private security guards and the conclusion as follows. First, it increased lumbar extension strength and lumbar flexion strength both exercise and non exercise group according to the variation of muscle function with the spinal stabilization exercise program. There was significant difference between exercise and non exercise group after the program but not before the program. Second, it appeared the functional vanishment of lumbar extensor before the program both exercise and non exercise group according to the variation of muscle function with the spinal stabilization exercise program for lumbar flexor extensor ratio. Third, it analyzed for the spinal stabilization with 8 ways according to the variation of muscle function with the spinal stabilization exercise program for the change of the spinal stabilization. The spinal stabilizaton increased each angle for the execise group but decreased or not changed for non exercise group. Fourth, it used 10m gait test for the speed and step length according to the variation of muscle function with the spinal stabilization exercise program. It appeared the increasement of gait ability for exercise group and there was significant difference between exercise and non exercise group. In conclusion, there was a positive effect for lumbar extension strength, lumbar flexion strength, lumbar flexor extensor ratio, spinal stabilization, and gait ability with regular spinal stabilization exercise program. This means that spinal stabilization exercise program give positive effect to the decrease of back pain and the development of muscular strength for private security guard, also will help to recover and return to work more faster. Also, it seems that the exercise prescription program may be applicable to prevent or to improve the function for private security guard.

• Archives of design research
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• v.17 no.4
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• pp.241-250
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• 2004

In this research, the copper alloy plates C2200, C5210, C7701, C8113 were selected to make datum and to identify further usage of metal craft experimentation. For its experimentation, the general welding and TIG welding methods were researched; for 2nd experimentation, the Reticulation and Electroforming skill's differences in color and temperature were researched. With these methods 3 different kinds of works are introduced for sample studies. For this research, Dr. Lee, Dong-Woo who works in Poongsan Metal Co, supported 4 kinds of copper alloy metals. Which are Commercial bronze (Cu-Zn), Deoxidiged Copper(Cu-Sn-P), Nickel Silver (Cu-Ni-Zn), and White Bronze (Cu-Ni); they were applied partly and wholly by the method of Laminatin, Reticulation, Fusing, and Electroforming skills. In case of C2200, the brass, the A. C. TIG welding method is better under 2mm slight plate; the D.C. TIG welding is better upper 2mm plate; and 250~300$^{\circ}C$ is recommended for remain heat treatment. In case of C5210, not having Hydrogen in high temperature return period, doesn't need Oxygen in high temperature and hardening in comparative high temperature neither, it is good for welding. It contains Sn 2-9% ad P 0.03-0.4% generally; and in accordance with the growth rate of Sn contain amount, the harden temperature boundary become broad. In case of cold moment after welding, they are recommended that higher speed TIG welding, smaller melting site and less than 200$^{\circ}C$ for pre-heating temperature. In case of C7701, the 10-20% Ni, 15-30% Zn are widely used.. If it is upper 30% Zn, it become (${\alpha}+{\beta}$) system and adhesive power rate become lower, and the productivity become lower in low temperature but the productivity become higher in high temperature. Nickel Silver's resistance of electricity is well; and the heatproof and incorrodibility is good, too. Lastly, in case of C8113, good at persistence in salty and grind; high in strength of high temperature. In case of white brass, contain 10-30% Nickel and hardened in high temperature and become single phrase. For these reason, the crystallization particles easily become large, if the resistance become higher small amount of Pb, P, S separation rate become higher.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.18 no.10
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• pp.442-447
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• 2017

The purpose of this study was to establish norm-referenced criteria for the isokinetic strength of the elbow joint in Korean high school baseball players. Two hundred and one high school baseball players participated in this study, none of whom had any medical problem with their upper limbs. The elbow flexion/extension test was conducted four times at a speed of $60^{\circ}/sec$. The HUMAC NORM (CSMI, USA) system was used to obtain the values of the peak torque and peak torque per body weight. The results were presented as norm-referenced criterion valuesusing the 5-point scale of Cajori which consists of five stages (6.06%, 24.17%, 38.30%, 24.17%, and 6.06%). In the results of this study, the peak torques of the elbow (flexor and extensor?) at an angular velocity of $60^{\circ}/sec$ were $37.88{\pm}8.14Nm$ and $44.59{\pm}11.79Nm$, and the peak torque per body weight of the elbow (flexor and extensor?) were $50.06{\pm}8.66Nm$ and $58.28{\pm}12.84Nm$, respectively. The reference values of the peak torque and peak torque per body weight of the elbow flexor and extensor were setat an angular velocity of $60^{\circ}/sec$. On the basis of the results analyzed in this study, the following conclusions were drawn. There is a lack of proper studies on the elbow joint strength, even though the most common injury in baseball players occurs in the elbow joint. Therefore, we need to establish a standard muscle strength in order to prevent elbow joint injuries and improve their performance. The criteria for the peak torque and peak torque per body weight established here in will provide useful information for high school baseball players, baseball coaches, athletic trainers and sports injury rehabilitation specialists in injury recovery and return to rehabilitation, which can beutilized as objective clinical assessment data.

• Journal of Fashion Business
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• v.1 no.1
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• pp.71-83
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• 1997

The purpose of this study is to analyze the present fashion phenomenon by considering the types of street fashion, the center of avant-grade modern fashion, that shows the origination background and special feature concretely. The times was defined through the 1980's from World War II that street style originated, so the range of study was the 1990's when the street style was influenced by that of the past and was revived. The ways of study were to analyze the records of ideology, art and music connected with the street style from World War II to the present when it has risen. The summary of result is as follows. (1) In the 1940's, Zooties was the jet of desire suppressed by African-Americans that couldn't receive favors socially and economically and Hipsters pursued reformative bebop that made up of soft Jazz. In the 1950's, Modernists were running after Cool Jazz to the minimum. In the 1970's, Funk appered in the sexual desire and erotic strength, and was surfaced from Negro Getto. In the 1980's B-boys & Flygirls showed the street style by the scribble art of slum in the New York. As mentioned above, In the 1990's, Acid Jazz influenced by the Jazz of Negro has been the fashion added to the tradition of musical form that come from eclecticism of Jazz tended Neo-Jazz. (2) In the 1940's, Western style dreamed the country life because of rapid urbanization. In the 1950's, Beat obtained the feeling of liberation from the dissolute life and activity. In the 1960's, Psychedelics showed the freedom affected by the Pop-art and Op-art, and Hippies pursued the true individuality as 'love & peace' life style and the return to nature. In the 1990's, Grunge look influenced by the above has been fashion that shows the practical use of second-hand clothing or patchwork contrary to elitism. (3) In the 1940's, Caribbean style appered in the typical textile color with the center of West Indies. In the 1960's, Rude boys showed the magnificence and difficulty of Jamaica, and Rastafarians had a tendency to come back to the ancient civilization of America. In the 1970's, Two-tone was the simple clothing for harmonizing among human races. In the 1990's, Jamaica look influenced by the above has been the Lege fashion introduced to a high fashion, appearing in the special bright color, applique, unique hair style, and so on. (4) In the 1950's, Sufers pursued natural rhythm, getting out of everything. In the 1970' s, Skaters enjoyed the speed on the paved road. In the 1980's, Casuals emphasized the spirit of cooperation of young-things. In the 1990's, Casual look Influenced by the above has been the fashion that forms the activity, function and strong spirit of cooperation by pursuing comfortable life and sports in the tension of life and variety of modern society. (5) It was hard for Bikers to adjust themselves in society after the war. In the 1950's, Coffee bar cowboys were the reckless running boys in the leather jacket. In the 1960's, Rockers created the group originality as disobedient outsiders and Greasers imitated Rolling Stones. In the 1980's, Punks resisted the viewpoint of the old generation in offensive fashion. In the 1990's, Cyberpunk influenced by the above has pursued the classless structure, electronic music and metallic clothing that forebodes gloomily as the computer generation of ultra-modern science times. Accordingly, in understanding a complex modern fashion phenomenon, it was analyzed that the street styles of the past, from World War II to the 1980's, were reflected in that of the 1990's dividing into the five types in a word, namely Acid Jazz, Grunge look, Jamaica look, Casual look and Cyberpunk.

• Korean small business review
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• v.31 no.4
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• pp.67-93
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• 2009

The purpose of this paper is to explore the relations between financial constraints and dividend smoothing of innovative small and medium sized enterprises(SMEs) listed on Korea Securities Market and Kosdaq Market of Korea Exchange. The innovative SMEs is defined as the firms with high level of R&D intensity which is measured by (R&D investment/total sales) ratio, according to Chauvin and Hirschey (1993). The R&D investment plays an important role as the innovative driver that can increase the future growth opportunity and profitability of the firms. Therefore, the R&D investment have large, positive, and consistent influences on the market value of the firm. In this point of view, we expect that the innovative SMEs can adjust dividend payment faster than the noninnovative SMEs, on the ground of their future growth opportunity and profitability. And also, we expect that the financial unconstrained firms can adjust dividend payment faster than the financial constrained firms, on the ground of their financing ability of investment funds through the market accessibility. Aivazian et al.(2006) exert that the financial unconstrained firms with the high accessibility to capital market can adjust dividend payment faster than the financial constrained firms. We collect the sample firms among the total SMEs listed on Korea Securities Market and Kosdaq Market of Korea Exchange during the periods from January 1999 to December 2007 from the KIS Value Library database. The total number of firm-year observations of the total sample firms throughout the entire period is 5,544, the number of firm-year observations of the dividend firms is 2,919, and the number of firm-year observations of the non-dividend firms is 2,625. About 53%(or 2,919) of these total 5,544 observations involve firms that make a dividend payment. The dividend firms are divided into two groups according to the R&D intensity, such as the innovative SMEs with larger than median of R&D intensity and the noninnovative SMEs with smaller than median of R&D intensity. The number of firm-year observations of the innovative SMEs is 1,506, and the number of firm-year observations of the noninnovative SMEs is 1,413. Furthermore, the innovative SMEs are divided into two groups according to level of financial constraints, such as the financial unconstrained firms and the financial constrained firms. The number of firm-year observations of the former is 894, and the number of firm-year observations of the latter is 612. Although all available firm-year observations of the dividend firms are collected, deletions are made in the case of financial industries such as banks, securities company, insurance company, and other financial services company, because their capital structure and business style are widely different from the general manufacturing firms. The stock repurchase was involved in dividend payment because Grullon and Michaely (2002) examined the substitution hypothesis between dividends and stock repurchases. However, our data structure is an unbalanced panel data since there is no requirement that the firm-year observations data are all available for each firms during the entire periods from January 1999 to December 2007 from the KIS Value Library database. We firstly estimate the classic Lintner(1956) dividend adjustment model, where the decision to smooth dividend or to adopt a residual dividend policy depends on financial constraints measured by market accessibility. Lintner model indicates that firms maintain stable and long run target payout ratio, and that firms adjust partially the gap between current payout rato and target payout ratio each year. In the Lintner model, dependent variable is the current dividend per share(DPS_t), and independent variables are the past dividend per share(DPS_t-1) and the current earnings per share(EPS_t). We hypothesized that firms adjust partially the gap between the current dividend per share(DPS_t) and the target payout ratio(Ω) each year, when the past dividend per share(DPS_t-1) deviate from the target payout ratio(Ω). We secondly estimate the expansion model that extend the Lintner model by including the determinants suggested by the major theories of dividend, namely, residual dividend theory, dividend signaling theory, agency theory, catering theory, and transactions cost theory. In the expansion model, dependent variable is the current dividend per share(DPS_t), explanatory variables are the past dividend per share(DPS_t-1) and the current earnings per share(EPS_t), and control variables are the current capital expenditure ratio(CEA_t), the current leverage ratio(LEV_t), the current operating return on assets(ROA_t), the current business risk(RISK_t), the current trading volume turnover ratio(TURN_t), and the current dividend premium(DPREM_t). In these control variables, CEA_t, LEV_t, and ROA_t are the determinants suggested by the residual dividend theory and the agency theory, ROA_t and RISK_t are the determinants suggested by the dividend signaling theory, TURN_t is the determinant suggested by the transactions cost theory, and DPREM_t is the determinant suggested by the catering theory. Furthermore, we thirdly estimate the Lintner model and the expansion model by using the panel data of the financial unconstrained firms and the financial constrained firms, that are divided into two groups according to level of financial constraints. We expect that the financial unconstrained firms can adjust dividend payment faster than the financial constrained firms, because the former can finance more easily the investment funds through the market accessibility than the latter. We analyzed descriptive statistics such as mean, standard deviation, and median to delete the outliers from the panel data, conducted one way analysis of variance to check up the industry-specfic effects, and conducted difference test of firms characteristic variables between innovative SMEs and noninnovative SMEs as well as difference test of firms characteristic variables between financial unconstrained firms and financial constrained firms. We also conducted the correlation analysis and the variance inflation factors analysis to detect any multicollinearity among the independent variables. Both of the correlation coefficients and the variance inflation factors are roughly low to the extent that may be ignored the multicollinearity among the independent variables. Furthermore, we estimate both of the Lintner model and the expansion model using the panel regression analysis. We firstly test the time-specific effects and the firm-specific effects may be involved in our panel data through the Lagrange multiplier test that was proposed by Breusch and Pagan(1980), and secondly conduct Hausman test to prove that fixed effect model is fitter with our panel data than the random effect model. The main results of this study can be summarized as follows. The determinants suggested by the major theories of dividend, namely, residual dividend theory, dividend signaling theory, agency theory, catering theory, and transactions cost theory explain significantly the dividend policy of the innovative SMEs. Lintner model indicates that firms maintain stable and long run target payout ratio, and that firms adjust partially the gap between the current payout ratio and the target payout ratio each year. In the core variables of Lintner model, the past dividend per share has more effects to dividend smoothing than the current earnings per share. These results suggest that the innovative SMEs maintain stable and long run dividend policy which sustains the past dividend per share level without corporate special reasons. The main results show that dividend adjustment speed of the innovative SMEs is faster than that of the noninnovative SMEs. This means that the innovative SMEs with high level of R&D intensity can adjust dividend payment faster than the noninnovative SMEs, on the ground of their future growth opportunity and profitability. The other main results show that dividend adjustment speed of the financial unconstrained SMEs is faster than that of the financial constrained SMEs. This means that the financial unconstrained firms with high accessibility to capital market can adjust dividend payment faster than the financial constrained firms, on the ground of their financing ability of investment funds through the market accessibility. Futhermore, the other additional results show that dividend adjustment speed of the innovative SMEs classified by the Small and Medium Business Administration is faster than that of the unclassified SMEs. They are linked with various financial policies and services such as credit guaranteed service, policy fund for SMEs, venture investment fund, insurance program, and so on. In conclusion, the past dividend per share and the current earnings per share suggested by the Lintner model explain mainly dividend adjustment speed of the innovative SMEs, and also the financial constraints explain partially. Therefore, if managers can properly understand of the relations between financial constraints and dividend smoothing of innovative SMEs, they can maintain stable and long run dividend policy of the innovative SMEs through dividend smoothing. These are encouraging results for Korea government, that is, the Small and Medium Business Administration as it has implemented many policies to commit to the innovative SMEs. This paper may have a few limitations because it may be only early study about the relations between financial constraints and dividend smoothing of the innovative SMEs. Specifically, this paper may not adequately capture all of the subtle features of the innovative SMEs and the financial unconstrained SMEs. Therefore, we think that it is necessary to expand sample firms and control variables, and use more elaborate analysis methods in the future studies.