• 펄프종이기술
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• 제38권3호
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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.

• 한국기후변화학회지
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• 제6권4호
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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.

• 아태비즈니스연구
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• 제14권4호
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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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• 제6권4호
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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.

• 펄프종이기술
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• 제43권4호
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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.

• 유통과학연구
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• 제18권7호
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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.

• 한국멀티미디어학회논문지
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• 제25권2호
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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.

• 지능정보연구
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• 제28권3호
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• pp.105-117
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• 2022

본 연구는 다항회귀분석을 통해 장기금리와 단기금리의 차이인 금리 스프레드와 주식 수익률 간 영향을 분석한다. 기존 연구들은 미국시장을 중심으로 금리 스프레드를 통한 경기를 예측에 초점을 맞추어 진행되었다. 선행 연구들은 장단기금리의 기간을 조절하고 선행정도를 분석하며 금리 스프레드를 경기예측 선행지표로 검증했다. 국내에서도 2006년 경기종합지수 제 7차 개편 이후 금리스프레드를 경기 선행지수 구성항목에 포함하였으며 현재까지도 활용하고 있다. 그럼에도 불구하고 국내 주식시장에서 금리스프레드와 산업별 주식 수익률에 대한 연구는 부족하다. 때문에 본 연구에서는 국내주식시장을 대상으로 금리스프레드와 산업별 주식 수익률은 분석했다. 회귀분석을 통해 인과관계가 높은 장단기 금리를 선정하고 선행기간 및 산업별 상관관계를 파악했다. 연구 과정에서 단순 선형회귀 분석(Simple Linear Regression)의 한계를 극복하기 위해 다항 회귀분석(Polynomial Linear Regression)을 활용해 설명력을 높였다. 분석 결과 6개월 선행하여 무보증 3년 회사채(AA-) 수익률과 콜금리 수익률의 차이 금리스프레드로 사용했을 때 높은 인과를 확인하였으며 산업별 주식수익률을 분석한 결과 해당 금리 스프레드와 자동차산업의 수익률의 관계가 가장 밀접함을 확인했다. 본 연구를 통해 국내에서 금리 스프레드가 경기예측뿐만 아니라 주식수익률과도 인과관계가 있음을 확인한 것에 의의가 있다. 금리스프레드만 사용하여 주식 가격을 예측하는 것에는 한계가 있을 수 있으나 다양한 요인들과 적절히 활용할 경우 강력한 팩터로 역할을 할 것이라 기대한다.

• 한국통신학회논문지
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• 제37B권9호
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• pp.837-848
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• 2012

본 연구에서는 IT산업의 연구개발 투자가 부가가치에 미치는 영향을 분석하기 위하여 IT산업을 방송통신기기, 정보기기, 전자부품으로 세분하고, 각 세부 산업별로 자본스톡, 노동투입, 연구개발스톡을 독립변수로 설정하여 다중회귀분석을 실시하였다. 분석 결과, 모든 산업부문에서 t-value와 R-square 값들은 유의한 것으로 나타났지만, 자기상관은 매우 높게 나타났다. 한편 정보기기산업에서는 연구개발스톡, 전자부품산업에서는 노통투입의 계수 값이 마이너스로 나타나서 다중공선성의 징후가 의심되었다. 본 연구에서는 Cochrane-Orcutt 절차와 주성분회귀분석을 통하여 자기상관 및 다중공선성의 문제를 해결하였다. 연구개발스톡이 부가가치에 미치는 영향을 분석한 결과, 방송통신기기산업의 연구개발투자가 정보기기산업이나 전자부품산업에 비해 훨씬 큰 영향을 미치는 것으로 추정되었다.

• 한국의류학회지
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• 제47권5호
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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.