• Journal of Korea Trade
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• v.24 no.6
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• pp.1-18
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• 2020

Purpose - This study investigates whether a listing effect exists in cross-border M&As and whether the effect can be attributed to the uncertainty of the GDP growth rate in the target firm's home country. We apply a joint variable analysis using M&A announcement data from the Korea Exchange (KRX), Shanghai Stock Exchange (SSE), and the Taiwan Stock Exchange (TWSE) from 2004 to 2013. We also conduct an event study using the measure of the uncertainty of the GDP growth rate (based on IMF statistics) in 55 target countries. Design/methodology - We measure the abnormal return (AR) using the market-adjusted model. We test the significance of the AR and the cumulative abnormal return (CAR) using a one-sample t-test. We examine the characteristics of the CARs depending on whether the target company is listed by applying a difference analysis using CAR as a test variable. In addition, we set CAR (-5, +5) as a dependent variable to identify the cause of the listing effect, and test both the financial characteristic variables of the acquirer and the collective characteristic variables of the merger as independent variables in the multiple regression analysis. Findings - First, we find the listing effect of cross-border M&As in the KRX, SSE, and TWSE, which represent the capital markets in Korea, China, and Taiwan, respectively. This listing effect persists during the global financial crisis and has a negative effect on the wealth of acquiring shareholders, especially when the target countries are emerging markets. Second, greater uncertainty regarding the target countries' economic growth in cross-border M&As has a negative effect on the wealth of acquiring firms' shareholders. Third, our empirical analysis demonstrates that the listing effect is attributable to the fact that firms listed in a target country with greater uncertainty of economic growth are more directly and greatly exposed to uncertain capital markets through stock markets, than are unlisted firms. Originality/value - This study is significant in that it presents a new strategic perspective in the study of cross-border M&As by demonstrating empirically that the listing effect is attributable to the uncertainty regarding the economic development of the target firms' home countries.

• The Journal of Korean Society for Radiation Therapy
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• v.32
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• pp.53-59
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• 2020

Purpose: The purpose of this study is to compare and analyze the difference between the MLC log file-based software (Mobius) and the conventional phantom-ionization chamber (ArcCheck) dose verification method according to the change of target volume. Material and method: Radius 0.25cm, 0.5cm, 1cm, 2cm, 3cm, 4cm, 5cm, 6cm, 7cm, 8cm, 9cm, 10cm with a Sphere-shaped target Twelve plans were created and dose verification using Mobius and ArcCheck was conducted three times each. The irradiated data were compared and analyzed using the point dose error value and the gamma passing rate (3%/3mm) as evaluation indicators. Result: Mobius point dose error values were -9.87% at a radius of 0.25cm and -4.39% at 0.5cm, and the error value was within 3% at the remaining target volume. The gamma passing rate was 95% at a radius of 9cm and 93.9% at 10cm, and a passing rate of more than 95% was shown in the remaining target volume. In ArcCheck, the average error value of the point dose was about 2% in all target volumes. The gamma passing rate also showed a pass rate of 98% or more in all target volumes. Conclusion: For small targets with a radius of 0.5cm or less or a large target with a radius of 9cm or more, considering the uncertainty of DQA based on MLC log files, phantom-ionized DQA is used in complementary ways to include point dose, gamma index, DVH, and target coverage. It is believed that it is desirable to verify the dose delivery through a comprehensive analysis.

• 제어로봇시스템학회:학술대회논문집
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• 2002.10a
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• pp.63.5-63
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• 2002

In this paper, we are concerned with a maneuver detection algorithm which uses the 'lost' measurements down-sampled for computation load saving when a target is in quiescent motion. In general applications of estimation, measurements are available at a relatively high rate, while the estimation processing equipment can only operate at a lower sampling rate. Furthermore, when a target is in nearly quiescent motion, the update of the tracking filter need not to be implemented with maxim urn process power of the filter since the states of the target vary relatively slowly. This does not give serious degradation on the estimation performance. We consider the maneuver detection problem at the case...

• KSII Transactions on Internet and Information Systems (TIIS)
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• v.11 no.1
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• pp.451-465
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• 2017

This paper presents a novel discriminative visual tracking algorithm with an adaptive incremental extreme learning machine. The parameters for an adaptive incremental extreme learning machine are initialized at the first frame with a target that is manually assigned. At each frame, the training samples are collected and random Haar-like features are extracted. The proposed tracker updates the overall output weights for each frame, and the updated tracker is used to estimate the new location of the target in the next frame. The adaptive learning rate for the update of the overall output weights is estimated by using the confidence of the predicted target location at the current frame. Our experimental results indicate that the proposed tracker can manage various difficulties and can achieve better performance than other state-of-the-art trackers.

• Journal of the Korean Society for Precision Engineering
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• v.26 no.12
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• pp.62-68
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• 2009

In this paper, we investigate a new method to measure the thickness of thin transparent objects utilizing a step index multi-mode optical fiber sensor. The method mainly depends on the refraction rate of transparent target, the diameter of optical fibers and the distance to reflector. We confirmed the effects of these parameters through the experimental verification tests. The comparison between the theoretical vs. analytical results shows good agreements with each other. The proposed model also enables users to measure the thickness of thin transparent objects without considering the reflection from the target. This approach provides simple, cost-effective and non-contact solutions to measure the thickness.

• The Journal of Korean Institute of Communications and Information Sciences
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• v.22 no.4
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• pp.675-684
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• 1997

The bit rate control algorithm which is capable of handing scene change is proposed. In MPEG-2 TM5, block variance is used to measure block activity. But block variance is not consistent with human visual system and does not differenciate the distribution of pixel values within the block. In target bit allocation process of TM5, global complexity, obtained by results of previous coded pictures, is used. Since I pictures are spaced relatively far apart, their complexity estimate is not very accurate. In the proposed algorithm local variance is used to measure block activity and detect scene change. Local variance, using deviation from the mean of neighboring pixels, well represents the distribution of pixel values within the block. If scene change is detected, the local variance information is used for target bit allocation process. Allocating target bits for I picture, the average local variance difference between previous and current I picture is considered. The experimental results show that the proposed algorithm can detect scene change very precisely and gives better picture quality and higher PSNR values than MPEG-2 TM5.

• Nuclear Engineering and Technology
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• v.55 no.5
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• pp.1559-1566
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• 2023

This study developed a quasi-monoenergetic neutron source (QMN) for the semiconductor device's soft error rate test (SER). Quasi-monoenergetic neutrons are generated by ⁹Be(p, n)⁹B nuclear reaction with a 1 mm beryllium target and 30 MeV protons from a cyclotron. An 8 mm water in the back of the beryllium target is used for avoiding proton penetration. The neutron spectra simulated by MCNP showed that the peak energy was around 26.5 MeV. The heat flow and mechanical properties are numerically analyzed, and the safe operating conditions are therefore determined.

• The Journal of Asian Finance, Economics and Business
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• v.6 no.3
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• pp.41-53
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• 2019

Building a target capital structure is one of the most important decisions in corporate financial management. The purpose of this article is to identify the determinants of capital structure and adjustment mechanism toward the target leverage. The partial adjustment model was applied on a sample of 306 non-financial companies listed on Vietnam stock exchange market during the period of 2008-2017. By the fixed effect model estimation method, the research results have discovered the factors of growth opportunities, firm size, tangible fixed assets and firm's unique characteristics have a positive effect on the target capital structure of enterprises. Besides, profitability and dividend payment have a negative effect on the target capital structure of enterprises. Accordingly, the research results show that the average adjustment speed toward target leverage of the firms is 90.03%. Research results also demonstrate firms have higher or lower debt ratio than the target debt ratio, capital surplus or capital deficit also have an impact on the adjustment rate toward the target capital structure. The research results are consistent with the Dynamic Trade-off Theory. From this result, this article has provided policy implications for non-financial companies listed on Vietnam's stock market in building a reasonable target capital structure according to operating timeline to maximize enterprise value.

• Journal of Korea Multimedia Society
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• v.19 no.5
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• pp.890-900
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• 2016

This paper presents a multiple target tracking system using target feature information. In the proposed system, the state of target is defined as its kinematic as well as feature : the kinematic includes a location and a velocity; the feature contains the image correlation between a prior target and a current measurement. The feature information is used for generating the validation matrix and association probability of joint probabilistic data association (JPDA) algorithm. Through the Kalman filter, the target kinematic is updated. Then the tracking information is cycled by the track management algorithm. The system has been evaluated using the images obtained from Electro-Optics/ InfraRed (EO/IR) sensor. It is verified that the proposed system can reduce the complexity burden of JPDA process and can enhance the track maintenance rate.

• Journal of electromagnetic engineering and science
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• v.11 no.3
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• pp.213-219
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• 2011

Simulative target generators are needed for testing and calibrating various radar systems. The generator in this study discriminates the transmitting frequency from a radar and simulates parameters like target range, range rate, and atmospheric attenuation using the digital RF memory technique. The simulative target echo is then sent to the radar for testing and evaluation. This paper proposes a novel architecture for controlling the digital RF memory so it continually writes ADC data to the memory and reads it for the DAC with increasing one step address in order to control the delay of target range in a simple way. The target echo is programmed according to various preprogrammed scenarios and is generated in real time using a wireless local area network (LAN). To analyze the detected and generated target information easily, the system times for the radar and simulative target generator are synchronized using a global positioning system (GPS).