• Title/Summary/Keyword: SWAP

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Financial Determinants of Credit Default Swap Spreads for Financial Institutions Headquartered in the Republic of Korea (국내 금융기관들의 신용부도스왑 스프레드에 대한 재무적 결정요인 분석)

  • Kim, Hanjoon
    • The Journal of the Korea Contents Association
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    • v.12 no.11
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    • pp.338-357
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    • 2012
  • This study investigated any possible financial attributes of the CDS spreads of a firm belonging to financial industries headquartered in the Republic of Korea. There were few studies on this issue, especially for the firms located in emerging capital markets. Coupled with the models such as a multiple regression and a principal component analysis(PCA), this research has identified that only two explanatory variables such as SLOPE and INTER3 (i.e. interaction effect between the BETA and the SLOPE) consistently showed their statistically significant influence on the CDS spreads through the 'selected' model without and with applying a stepwise regression procedure for the robustness. Given the rapid developments of sophisticated financial derivatives, this study may suggest a valuable insight to foreign and domestic investors to identify the possible determinants of CDS spreads at the firm- and/or the industry-level.

Developement of Scope for Military Rangefinder Using Schmidt Prism and Biprism Theory of Optometric Instrument (안광학기기에 사용되는 바이프리즘원리와 슈미트 프리즘을 이용한 군사 거리측정기용 스코프 개발)

  • Cha, Jung-Won;Lee, Dong-Hee
    • Journal of Korean Ophthalmic Optics Society
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    • v.20 no.2
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    • pp.167-175
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    • 2015
  • Purpose: The new-type rangefinder, which is using the biprism principle, is introduced to develop the range finder which can be easily carried by soldiers, and in order to realize those technologies specifically, we try to develop a scope for military rangefinder by doing optical design which can secure enough space to move the biprism. Methods: After setting up the verious initial condition to realize two kinds of goals, that are the securement of enough space to move the biprism and the easy-exchangeability of two kinds of biprisms, and then the optical system was optimized by using optical design program CodeV in order to minimize the finite ray aberrations. Results: We designed the biprism housing to makes it possible to swap the two kinds of biprisms. It was appeared that the Schmidt prism is suitable as erecting prism which can make sure the space to move the biprism. 16.5 mm was good for the face length of Schmidt prism. The optical system with a Schmidt prism and a biprism was designed, and the finite ray aberrations was minimized. Conclusions: We developed a 5X scope for an optical rangefinder using a biprism and a Schmidt prism with 16.5 mm face length. This scope is valid for the optical system which has the effective field angle of ${\pm}3.6^{\circ}$, and the finite ray aberrations are well controlled within the ${\pm}8.95^{\prime}$.