• The Journal of Asian Finance, Economics and Business
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• v.7 no.8
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• pp.25-31
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• 2020

The purpose of this paper is to examine a financial distress premium in the emerging market. A risk-return trade-off of negative book equity (NBE) and distress firms is empirically analyzed using data from the Stock Exchange of Thailand. This research employs Ohlson's (1980) bankruptcy model as a measurement of distress risk. The results indicate that distress firms outperform solvent firms in the Thai market and deny distress anomaly often found in the developed market. Fama-Frech (1993) three-factor model and Carhart (1997) four-factor model verify the existence of a distress premium in the Thai capital market. Risk-seeking investors demand greater compensation for bearing risks of distress firms' going concern. This paper provides fresh evidence that default risk is a significant explanatory factor in pricing stocks in the emerging market. Also, this study sheds light on the role of NBE firms in asset pricing. Most studies eliminate NBE firms from their sample. However, NBE firms yield superior average cross-sectional returns, albeit with higher volatility. Investors are rewarded with distress risks associated with NBE firms. The outperformance of NBE firms is statistically significant when compared to the overall market. The NBE premium disappears when factoring size, value, and momentum in time-series analysis.

• Journal of the Korean Institute of Illuminating and Electrical Installation Engineers
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• v.20 no.3
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• pp.6-11
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• 2006

This paper describes the novel control techniques design of VSC(Voltage Sag Corrector) for the purpose of power line quality enhancement. A fast detecting technique of voltage sag is implemented through the detection of instantaneous value on synchronous rotating dq-reference frame. The first order digital filter is added in the detection algorithm to protect the insensitive characteristics against the noise. The relationship between the total detection time and cut-off frequency of the filter is described. The size of the capacitor bank used as the energy storage element is designed from the point of view of input/output energy with circuit analysis. Finally, the validity of the proposed scheme is proven through the simulated results.

• The Transactions of the Korean Institute of Power Electronics
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• v.19 no.3
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• pp.201-210
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• 2014

In this paper, dc-link voltage control of a grid-connected QZSI is presented. Since the input current of the ZSI is discontinuous, a capacity with relatively large capacitance should be connected to the output of the PV array in order to reduce the current ripple. Due to the presence of the impedance network inductor in series with the PV array, the QZSI can achieve continuous input current flow. Several dc-link voltage control methods are compared and the method for power quality improvement is also presented. The performance of the proposed method is verified through both simulation and experimental results.

• The Transactions of The Korean Institute of Electrical Engineers
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• v.66 no.12
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• pp.1740-1744
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• 2017

This paper describes the preparation and characteristics of a battery capacitor and module for solar power system. A cylindrical 30,000F battery capacitor ($60{\times}138mm$) was assembled by using the $LTO(Li_4Ti_5O_{12})$ electrode as an anode and $NMC(LiNiMnCoO_2)-LCO(LiCoO_2)$ as a cathode. The battery capacitor has reduced energy density and power density under high CC(constant current) and CP(constant power) conditions. Battery capacitor module (16V, 11Ah) was fabricated using an asymmetric hybrid capacitor with a capacitance of 30,000F. In order to determine the characteristics of the battery capacitor Module for solar power system, battery capacitor cells were connected in series with active balancing circuit. As a result of measuring the 100w LED lamp, it was discharged at the voltage of 15V~10V, and the compensation time at discharge was measured to be about 4979s. Experimental results show that it can be applied to applications related to solar power system by applying battery capacitor module.

• Journal of Power Electronics
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• v.18 no.1
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• pp.309-322
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• 2018

The technology of inductive power transfer has been proved to be a promising solution in many applications especially in electric vehicle (EV) charging systems, due to its features of safety and convenience. However, loosely coupled transformers lead to the system efficiency not coming up to the expectation at the present time. Therefore, at first, the magnetic core losses are calculated with a novel magnetic-circuit model instead of the commonly used finite-element-method (FEM) simulations. The parameters in the model can be obtained with a one-time FEM simulation, which makes the calculation process expeditious. When compared with traditional methods, the model proposed in the paper is much less time-consuming and relatively accurate. These merits have been verified by experimental results. Furthermore, with the proposed loss calculation model, the system is optimized by parameter sweeping, such as the operating frequency and winding turns. Specifically, rather than a predesigned switching frequency, a more efficiency-optimized frequency for the series-parallel (SP) compensation topology is detected and a detailed investigation has been presented accordingly. The optimized system is capable of an efficiency that is greater than 93% at a coil separation distance of 200mm and coil dimensions of $600mm{\times}400mm$.

• Journal of Power Electronics
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• v.17 no.4
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• pp.1109-1116
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• 2017

Wireless power transfer (WPT) technology has the advantages of intelligence and facilitation. This paper designs a WPT system applied to battery charging and provides a strategy which switches from the constant current (CC) charging mode to constant voltage (CV) charging mode. The LCL-LCL topology is used to realize the CC output, while the LCL-S (series compensation) topology is used to realize the CV output. The main factor affecting the output characteristics is extracted by analyzing the two topologies above. Based on the main factor, this paper puts forward a modified way to design the system. In addition, on-line monitors for the battery and switches are placed at receiving side, which avoids the need for introducing an information interaction module into the system. Therefore, the complexity of the controlling system is reduced. Finally, simulation and experimental analyses are carried out to verify the correctness of the compound topologies.

• Journal of the Korean Solar Energy Society
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• v.28 no.5
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• pp.85-95
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• 2008

Photovoltaic conditioning systems normally use a maximum power point tracking (MPPT) technique to deliver the highest possible power to the load continuously when variations occur in the insolation and temperature. A unique method of tracking the maximum power points (MPPs) and forcing the boost converter system to operate close to these points is presented through deriving small-signal model and transfer function of boost converter considering input capacitor. This paper aims at modeling boost converter including fairly large equivalent series resistance(ESR) of input reservoir capacitor by state-space-averaging method and PWM switch model. In the future, properly designed controller for compensation will be constructed in 3kw real system for maximum photovoltaic power tracking control.

• Journal of the Korean Society of Safety
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• v.37 no.2
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• pp.76-87
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• 2022

Lithium-ion batteries (LIBs) have attracted much interest for their high energy density (>150 mAh/g), high capacity, low self-discharge rate, and high coulombic efficiency. However, with the successful commercialization of LIBs, fire and explosion incidents are likely to increase. The thermal runaway is known as the major factor in battery-related accidents that can lead to a series of critical conditions. Considering this, recent studies have shown an increased interest in countering the safety issues associated with LIBs. Although safety standards for LIB use have recently been formulated, little attention has been paid to the safety around the manufacturing process for battery products. The present study introduces a risk assessment method suitable for assessing the safety of the LIB-manufacturing process. In the assessment method, a compensation parameter (Z-factor) is employed to correctly evaluate the process's safety on the basis of the type of material (e.g., metal anode, liquid electrolyte, solid-state electrolytes) utilized in a cell. The proposed method has been applied to an 18650 cell-manufacturing process, and three sub-processes have been identified as possibly vulnerable parts (risk index: >4). This study offers some crucial insights into the establishment of safety standards for battery-manufacturing processes.

• Structural Monitoring and Maintenance
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• v.9 no.4
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• pp.305-321
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• 2022

Bridge structural health monitoring with the aim of continuously assessing structural safety and reliability represents a topic of major importance for worldwide infrastructure managers. In the last two decades, due to their potential economic and operational advantages, drive-by approaches experienced growing consideration from researcher and engineers. This work addresses two technical topics regarding indirect frequency estimation methods: bridge and vehicle dynamics overlapping, and bridge expansion joints impact. The experimental campaign was conducted on a mixed multi-span bridge located in Lombardy using a Ford Galaxy instrumented with a mesh of wireless accelerometers. The onboard time series were acquired for a number of 10 passages over the bridge,performed at a travelling speed of 30 km/h, with no limitations imposed to traffic. Exploiting an ad-hoc sensors positioning, pitch vehicle motion was compensated, allowing to estimate the first two bridge bending frequencies from PSD functions; moreover, the herein adopted approach proved to be insensitive to joints disturbance. Conclusively, a sensitivity study has been conducted to trace the relationship between estimation accuracy and number of trips considered in the analysis. Promising results were found, pointing out a clear positive correlation especially for the first bending frequency.

• Journal of Environmental Health Sciences
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• v.48 no.1
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• pp.19-27
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• 2022

The industrial development and socioeconomic structures of a society are inextricably linked to occupational accidents and diseases. Since the 1970s, a series of major occupational diseases have occurred in South Korea, such as mercury poisoning in Munsong-myeon, carbon disulfide poisoning at Wonjin Rayon, and leukemia at Samsung Electronics. These incidents have caused us to take a critical look at the level of worker safety and health management within companies and the government. These serve as symbolic and representational events. Doctors, lawyers, and labor activists concerned about employee safety and lives came together for years to struggle with the government and industry in order to determine what caused the diseases and to obtain compensation for victims. They finally achieved recognition for occupational diseases and recompense for losses. It is difficult to find similar cases to the baby powder asbestos talc cases and the radon bed case internationally, or there is no case where such a large number of consumers have been potentially harmed. It is also difficult to prove that the damage took place due to the victims' diverse geographic locations and ages, as well as the disease's long incubation period. Based on this premise, businesses and the government have been apathetic in acknowledging these diseases and compensating for damages, with few practical outcomes. Furthermore, unlike the large-scale occupational disease cases, only a few people including expert groups were organized and actively participated in the settlement of these issues, so it remains unfinished business for our society to address.