• Journal of Korea Technical Association of The Pulp and Paper Industry
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• v.38 no.3 s.116
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• pp.72-78
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• 2006

The extraction properties of the biological waste originated from the Tobacco industry were evaluated. The biological waste have been recycled and transformed into a valuable material, so called a reconstituted tobacco sheet(Recon) by the papermaking process. In this process, The mechanical extraction process, which divides the mixed raw material slurry into the soluble stock and the insoluble stock, could affect not only the quality of final Recon product but also the productivity of whole Recon making process. This study investigated the effects of the extraction process on the slurry properties in detail. In order to quantify the amounts of the solubles which resided in the insoluble fibers, the washing treatment of the stock before and after squeezing process was applied. The amounts of the residual solubles showed little changes according to each stage of the extraction process. The fractionation of the slurry showed the difference in the amount of soluble in the stock depending on the size of the biological waste. After the extraction process, the bigger size fiber portion contained about 19%(by weight) in soluble after pressing but the smaller size fiber portion 9% in soluble. The fractionation ratio of the stocks also was changed by the screw press process, which could demonstrate the physical effects of the mechanical extraction.

• Journal of Climate Change Research
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• v.6 no.4
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• pp.303-310
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• 2015

This study was conducted to estimate of carbon stock and greenhouse gas (GHGs) removals by tree species and forest type at Gangwon province. We used a point sampling data with permanent sample plots in national forest inventory and national emission factors. GHGs emissions was caclulated using the stock change method related to K-MRV and IPCC guidance. Total carbon stock and greenhouse gas removals were high in deciduous forest and species than in coniferous. The range of annual net greenhouse gas emissions in other deciduous species was from $-11,564.83Gg\;CO_2\;yr^{-1}$ to $-13,500.60Gg\;CO_2\;yr^{-1}$ during 3 years (2011~2013). On the other hand, coniferous forest was temporally converted to source due to reducing of growing stock in 2012. It was that growing stocks and forest area were likely to reduce by the deforestation and clear cutting. This study did not consider other carbon pools (soil and dead organic matter) due to the lack of data. This study needs to complement the activity data and emission factors, and then will find the way to calculate the greenhouse gas emissions and removals in the near future.

• Asia-Pacific Journal of Business
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• v.14 no.4
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• pp.431-444
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• 2023

Purpose - This study applies the traditional Structure-Conduct-Performance (SCP) model from industrial organization theory to investigate the relationship between market structure and performance in China's banking industry. Design/methodology/approach - For analysis, financial data from the People's Bank of China's "China Financial Stability Report" and financial reports of 6 state-owned banks and 11 joint-stock banks for the period 2010 to 2021 were collected to create a balanced panel dataset. The study employs panel fixed-effects regression analysis to assess the impact of changes in market structure and ownership structure on performance variables including return on asset, profitability, costs, and non-performing loan ratios. Findings - Empirical findings highlight significant differences in the effects of market structure between state-owned and joint-stock banks. Notably, increased market competition positively correlates with higher profits for state-owned banks and with lower costs for joint-stock banks. Research implications or Originality - State-owned banks demonstrate larger scale and stability, yet they struggle to respond effectively to market shifts. Conversely, joint-stock banks face challenges in raising profitability against competitive pressures. Additionally, the study emphasizes the importance for Chinese banks to strengthen risk management due to the increase of non-performing loans with competition. The results provide insights into reform policies for Chinese banks regarding the involvement of private sector in the context of market liberalization process in China.

• The Journal of Asian Finance, Economics and Business
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• v.6 no.4
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• pp.19-26
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• 2019

The study investigates the impact of accrual anomaly on stock return ratio of listed firms in Vietnam. Data were collected from listed firms for the period from 2008 to 2018. To learn about the causes of accrual anomaly in returns and future rate of returns on the Vietnamese stock market, this research is based on accrual analysis of Richardson, Sloan, Soliman, and Tuna (2006) on growth and effective components. We employ GLS regression model for examining the impact of accrual anomaly on stock return ratio and T-test for checking the difference between the lowest and the highest portfolio. The results show that accounting distortion is the main factor impacting the stock return, not growth determinant. Both two determinants of accounting distortion and growth contribute the explanation of the impact of accrual anomaly on profit and future stock return ratio. Experimental evidence confirms an abnormal existence of accrual in the Vietnam stock market. Aggregate accrual is negatively correlated with future operating profit and future stock return. However, after considering the factors contributing to the impact of future profitability and return on stock returns, the study results show that accounting distortion can account for low sustainability of income that is not growth.

• Journal of Korea Technical Association of The Pulp and Paper Industry
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• v.43 no.4
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• pp.23-30
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• 2011

Fillers have been used for papermaking in order to enhance the optical properties, to improve sheet formation, printability and dimensional stability and to reduce the furnish cost. However, filler particles in paper interfere with fiber-fiber bonding, resulting in decreased paper strength. In order to increase filler content in paper without sacrificing too much paper strength, dual addition technology of fillers was investigated. As a first step, the effects of thick stock addition of fillers on paper properties and papermaking process were elucidated. It was shown that thick stock addition of fillers could increase paper strength at a given filler content. No significant adverse effects on formation, drainage and filler retention were observed. However, bulk of paper was reduced with thick stock addition of fillers, which shall be resolved with regulating other factors such as the mixing ratio of pulps and type of fillers.

• Journal of Distribution Science
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• v.18 no.7
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• pp.63-72
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• 2020

Purpose: This study examines the market segmentation and strategy of PT INKA, a rolling stock manufacturer in Indonesia. Research design, data and methodology: The study used the MCDM (Multiple Criteria Decision Making) method specifically the AHP (Analytical Hierarchy Process). The AHP method was applied to identify the target market. This method or approach considers the market attractiveness and competitive strength criteria with quantified parameters. Results: a) Australia, Kenya, Tanzania, New Zealand, and India emerge as the top five target markets; b) There is justification for rolling stock manufacturers to allocate their resources in winning the market share. Conclusion: The main challenge confronting the rolling stock manufacturer is limited resources to acquire a particular market share despite abundant opportunities in this sector. Despite the mastery of technology and long experience in the industry, selecting a target market with multiple criteria could be difficult for an emerging rolling stock manufacturer in South East Asia.

• Journal of Korea Multimedia Society
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• v.25 no.2
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• pp.157-165
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• 2022

As the stock market is affected by various circumstances including economic and political variables, predicting the stock market is considered a still open problem. When combined with corporate financial statement data analysis, which is used as fundamental analysis, and technical analysis with a short data generation cycle, there is a problem that the time domain does not match. Our proposed method, LSTE the operating profit and market outlook of a petrochemical company and estimates the sales and operating profit of the company, it was possible to solve the above-mentioned problems and improve the accuracy of stock price prediction. Extensive experiments on real-world stock data show that our method outperforms the 8.58% relative improvements on average w.r.t. accuracy.

• Journal of Intelligence and Information Systems
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• v.28 no.3
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• pp.105-117
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• 2022

This study analyzes the effects between stock returns and interest rate spread, difference between long-term and short-term interest rate through the polynomial linear regression analysis. The existing research concentrated on the business forecast through the interest rate spread focusing on the US market. The previous studies verified the interest rate spread based on the leading indicators of business forecast by moderating the period of long-term/short-term interest rates and analyzing the degree of leading. After the 7th reform of composite indices of business indicators in Korea of 2006, the interest rate spread was included in the items of composing the business leading indicators, which is utilized till today. Nevertheless, there are a few research on stock returns of each industry and interest rate spread in domestic stock market. Therefore, this study analyzed the stock returns of each industry and interest rate spread targeting Korean stock market. This study selected the long-term/short-term interest rates with high causality through the regression analysis, and then understood the correlations with each leading period and industry. To overcome the limitation of the simple linear regression analysis, polynomial linear regression analysis is used, which raised explanatory power. As a result, the high causality was verified when using differences between returns of corporate bond(AA-) without guarantee for three years by leading six months and call rate returns as interest rate spread. In addition, analyzing the stock returns of each industry, the relation between the relevant interest rate spread and returns of the automobile industry was the closest. This study is significant in the aspect of verifying the causality of interest rate spread, business forecast, and stock returns in Korea. Even though it could be limited to forecast the stock price by using only the interest rate spread, it would be working as a strong factor when it is properly utilized with other various factors.

• The Journal of Korean Institute of Communications and Information Sciences
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• v.37B no.9
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• pp.837-848
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• 2012

This study has conducted the economic effects of R&D investment in the IT industry using multi-regression analysis with three independent variables; capital stock, labor input and R&D stock. In this study, the IT industry has been categorized into three sub-industries; broadcasting communication appliances, information appliances and electronic components industry. Our analysis has found that auto-correlation shows considerable levels whereas figures of t-value and R-square show significant levels among all the IT sub-industries. Meanwhile, the values of R&D stock in the information appliances industry and that of labor input coefficients in the electronic components industry were minus, thus multi-collinearity was suspected. We have solved the problems regarding auto-correlation and multi-collinearity through Cochrane-Orcutt estimation and principal components analysis. This paper has derived the implications that R&D investment in the broadcasting communication industry is much more influential than any other IT sub-industry.

• Journal of the Korean Society of Clothing and Textiles
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• v.47 no.5
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• pp.779-803
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• 2023

The growth of digital news media and the stock price index has resulted in economic fluctuations in the fashion industry. This study examines the impact of fashion industry news and macroeconomic changes on the Textile & Wearing Apparel KOSPI over the past five years. An auto-regressive integrated moving average exogenous time series model was conducted using the fashion industry stock market index, the news topic index, and macro-economic indicators. The results indicated the topics of "Cosmetic business expansion" and "Digital innovation" impacted the Textile & Wearing Apparel KOSPI after one week, and the topics of "Pop-up store," "Entry into the Chinese fashion market," and "Fashion week and trade show" affected it after two weeks. Moreover, the topics of "Cosmetic business expansion" and "Entry into the Chinese fashion market" were statistically significant in the macroeconomic environment. Regarding the effect relation of Textile & Wearing Apparel KOSPI, "Cosmetic business expansion," "Entry into the Chinese fashion market," and consumer price fluctuation showed negative effects, while the private consumption change rate, producer price fluctuation, and unemployment change rate had positive effects. This study analyzes the impact of media framing on fashion industry business cycles and provides practical insights into managing stock market risk for fashion companies.