• Journal of Environmental Science International
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• v.13 no.7
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• pp.675-680
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• 2004

This study was conducted to remove organics and nutrients using 2 stage intermittent aeration reactor. First reactor, using suspended microbial growth in intermittent aeration instead of anaerobic reactor in the typical BNR process, used minimum carbon source to release P, and it was possible to reduce ammonia loading going to second reactor. In the second reactor, using moving media intermittent aeration, it was effective to reduce nitrate in non-aeration time by attached microorganisms having long retention time. In aeration time, nitrification and P uptake were taken place simultaneously. From the experiment, two major results were as follows. First, the removal of organics was more than 90%, and optimum aeration/non-aeration time ratio for organic removal was corresponded with aeration/non-aeration time ratio for nitrogen removal. Second, in the first reactor, optimum aeration/non-aeration time ratio was 15/75 (min.) because it was necessary to maintain 75 min. of non-aeration time to suppress of impediment of return nitrate and to lead release of phosphate. In the second reactor, optimum aeration/non-aeration time ratio was 45/90 (min.).

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.1
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• pp.29-43
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• 2022

This study measures the realized rate of return of venture capital(VC) fund at the level of investment agreement(as opposed to fund level returns reported by most of the relevant studies). It also measures the stock price return of the VC's portfolio firms (unlisted start-ups) at firm level(as opposed to fund returns) and its variance for the first time using unique data of the VC funds held by the Korean Venture Capital Association. Results of the analysis confirm that VC fund returns exceed individual stock price returns. Additionally, it is confirmed that VC portfolio firms exhibit a positive relationship between risk and return measured by total risk. Finally, we find that stock price returns at firm level are lower than that implied by the associated levels of risk. Consequently, this may make individual investors hesitate to directly buy unlisted startups' stocks even when investment in individual startup companies guarantees high risk-high returns relationship.

• Korean Journal of Social Welfare
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• v.64 no.4
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• pp.359-381
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• 2012

This Study aims to investigate the patterns and causes of the time to return-to-work(RTW) of the injured workers. This study collected data with structured questionnaires and finally included 791 injured workers. The Kaplan-Meier method is used for describing the patterns of the time to RTW after the injury and after claim closure. And the Cox regression is used to identify significant factors on the time to RTW after the injury and after claim closure. The results show that amom the all respondents, the 2.65% returned to work within 1 month, 28.82% within 6 months, 50.95% within 1 year, 71.69% within 2 years after the injury, and the 29.46% of the all repondent returned to work before claim closure or directly after the claim closure, the 36.41% returned to work within 1 month, 56.64% within 6 months, 67.54% within 1 year after the claim closure. And the Cox regression results of the time to RTW after the injury show that the time to RTW affected by gender, age, income, the retirement during the treatment, the RTW to the company at injured time, injury type, surgery, the claim duration, disability ratings, vocational training. Also, the Cox regression results of the time to RTW after the claim show that the time to RTW affected by gender, age, income, the return to the company at injured time, disability ratings, vocational training. As a result, some implication and policies are suggested for reducing the time to RTW of the injured workers.

• Asia-Pacific Journal of Business
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• v.14 no.1
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• pp.113-129
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• 2023

Purpose - The purpose of this study is to examine whether trading volume amplifies the extent to which lottery-type stocks are overpriced, and whether economic sentiment index explains time-variation in the magnitude of the volume amplification effect. Design/methodology/approach - We examine monthly returns on 5x5 monthly bivariate portfolios formed by lottery characteristics (measured by maximum daily return) and trading volume. In addition, we perform time-series regression tests to examine how the volume amplification effect changes in high and low economic sentiment periods, after controlling for Fama-French three factors. Findings - Our bivariate portfolio analysis shows that the overpricing of lottery-type stocks are mostly pronounced among high trading volume stocks. In contrast, for low trading volume stocks, overpricing of lottery-type stocks appears to vanish. Furthermore, the amplification effect of trading volume on overpricing of lottery-type stock is concentrated in high economic sentiment periods. Research implications or Originality - This study is the first attempt to examine whether trading volume drives lottery-type stocks' overpricing in the Korean stock market. Furthermore, our analysis unveils the time-varying nature of volume amplification effect. The results suggest that trading volume might play a important hidden role in asset pricing, opening a new line of researches in the future.

• Journal of Digital Convergence
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• v.19 no.12
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• pp.175-182
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• 2021

Focusing on the recently announced "KOSPI 200 ESG Index," this study intends to examine whether the "KOSPI 200 ESG Index" has any relevance to stock prices. Specifically, it was empirically analyzed whether companies included in the KOSPI 200 ESG index showed average abnormal return and cumulative average abnormal return of stock prices due to incorporation into the index. As for the research method, the case study was conducted using the return by the market model using the coefficient estimated by the OLS for the normal expected return. The study results are summarized as follows. First, the initial incorporation of a company into the KOSPI 200 ESG index showed significant positive(+) average abnormal return and cumulative average abnormal return. Second, the incorporation of a company into the KOSPI 200 ESG index showed significant positive(+) average abnormal return and cumulative average abnormal return. Through this study, it was confirmed that investors in the market are aware of ESG indicators as non-financial information, not just financial information. In addition, it can be said that the contribution of this study to the fact that investors perceive ESG index as information for investment. This study differs in that it uses the latest ESG index, but at the same time, it has limitations in that the study period is short and the study sample is limited.

• Journal of Ocean Engineering and Technology
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• v.17 no.6
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• pp.16-22
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• 2003

In this paper, the method of determining the economically-optimal design section of rubble mound breakwater, using ADS program, was studied to supplement the deterministic approach. First of all, the design waves are computed, according to the return periods, using the Weibull distribution from the data of waves at the location of the breakwater. In order to take an optimal section, according to the return periods, the ADS program was used. The restriction conditions and objective functions are decided from the references of the specifications and standard manuals for Coastal and Harbor Construction Work. Results from this study support the ADS program as an appropriate method for determining the economically-optimal section of rubble mound breakwater, comparing the construction costs and the initial and damage repair costs for its life time.

• Asia-Pacific Journal of Business
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• v.13 no.2
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• pp.123-138
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• 2022

Purpose - This study compares the performances of dynamic asset allocation strategies using Korean stocks and U.S. dollar, which have been negatively correlated for a long time, to examine the diversification effects in the portfolios of them. Design/methodology/approach - In the current study, we use KOSPI200 index, as a proxy of the aggregated portfolio of Korean stocks, and USDKRW foreign exchange rate to implement various portfolio management strategies. We consider the equally-weighted, risk-parity, minimum variance, most diversified, and growth optimal portfolios for comparison. Findings - We first find the enhancement of risk adjusted returns due to risk reduction rather than return increasement for all the portfolios of consideration. Second, the enhancement is more pronounced for the trading strategies using correlations as well as volatilities compared to those using volatilities only. Third, the diversification effect has become stronger after the global financial crisis in 2008. Lastly, we find that the performance of the growth optimal portfolio can be improved by utilizing the well-known momentum phenomenon in stock markets to select the length of the sample period to estimate the expected return. Research implications or Originality - This study shows the potential benefits of adding the U.S. dollar to the portfolios of Korean stocks. The current study is the first to investigate the portfolio of Korean stocks and U.S. dollar from investment perspective.

• ETRI Journal
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• v.33 no.6
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• pp.897-903
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• 2011

A hybrid ${\Delta}{\Sigma}$ modulator for audio applications is presented in this paper. The pulse generator for digital-to-analog converter alleviates the requirement of the external clock jitter and calibrates the coefficient variation due to a process shift and temperature changes. The input resistor network in the first integrator offers a gain control function in a dB-linear fashion. Also, careful chopper stabilization implementation using return-to-zero scheme in the first continuous-time integrator minimizes both the influence of flicker noise and inflow noise due to chopping. The chip is implemented in a 0.13 ${\mu}m$ CMOS technology (I/O devices) and occupies an active area of 0.37 $mm^2$. The ${\Delta}{\Sigma}$ modulator achieves a dynamic range (A-weighted) of 97.8 dB and a peak signal-to-noise-plus-distortion ratio of 90.0 dB over an audio bandwidth of 20 kHz with a 4.4 mW power consumption from 3.3 V. Also, the gain of the modulator is controlled from -9.5 dB to 8.5 dB, and the performance of the modulator is maintained up to 5 nsRMS external clock jitter.

• 제어로봇시스템학회:학술대회논문집
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• 2004.08a
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• pp.1758-1763
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• 2004

This paper focuses on congestion control for ATM network with uncertain time-variant delays. The time-variant delays can be distinguished into two distinct components. The first one is represented by time-variant queueing delays in the intermediate switches that are occurred in the return paths of RM cells. The next one is a forward path delay. It is solved by the VBR model which quantifies the data propagation from the sources to the switch. Robust $H_8$ control is studied for solving congestion problem with norm-bounded time-varying uncertain parameters. The suitable robust $H_8$ controller is obtained from the solution of a convex optimization problem through LMI technique.

• The Journal of Asian Finance, Economics and Business
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• v.1 no.3
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• pp.5-16
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• 2014

This study aims to examine the dynamics of price changes and trading volume of Kuala Lumpur Options and Financial Futures Exchange (KLOFFE) from 2000 to 2008. With augmented analysis, our results support two hypotheses. First, under information spillover, our findings support noise traders' hypothesis as the time span for variance of past trading volume to cause variance of current return is found to be asymmetric under bull and bear markets. Second, looking at the dynamic relation between volume and volatility of price changes, our findings support Liquidity-Driven Trade hypothesis as past trading volume and subsequent volatility of return exhibit positive correlation. In terms of investors' behavior in response to the news, we find that investors are more risk taking in bull market and more risk reverse in bear market. Our study suggests that investors should adjust their strategy in the futures market in a dynamic manner as the time span of new information arrival is not consistent. Also, uninformed investors with information asymmetry should expect noninformational trading from informed investors to establish their desired positions for better liquid position.