• The Journal of Asian Finance, Economics and Business
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• v.8 no.10
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• pp.1-10
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• 2021

This paper attempts to investigate the determinants of capital structure of Vietnamese firms and also shed light on some of the factors of the modern theory of capital structure which is relevant for explaining the capital structure in advanced countries which are also relevant in the context of Vietnam. Using panel data from more than 1000 Vietnamese listed enterprises census 2017-2020, the paper finds that leverage ratio of Vietnamese firms is significantly related to probability. The firms have high level of fixed assets which they use as collateral, resulting in higher debt ratio, which is in line with the pecking order theory. The result also confirm that highly targeted debt ratio is positively correlated with the industry characteristics (using real estate firms as a benchmark), in which firm operates. Furthermore, consistent with the trade-off hypothesis, the leverage ratio is positively affected by non - debt tax shield. The result confirms that a large number of companies are state - owned, will have an insignificant impact of firm's size (as reverse proxy for bankruptcy cost) on leverage ratio. We also find that there is no distinction between state-owned enterprises and private enterprises due to strict adherence to the rules set by the Vietnamese government. Distinct from other countries, corporate income tax has slight impact on capital structure in Vietnamese firms.

• Journal of Korean Society of Transportation
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• v.25 no.5
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• pp.183-193
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• 2007

Traditionally, a congestion charge based on first-best congestion pricing theory, namely, the theory of marginal cost pricing theory, is equal to the difference between marginal social cost and marginal private cost. It is charged on each link so as to derive a user equilibrium flow pattern to a system optimal one. Based on this theory this paper investigates on the characteristics of first-best congestion pricing of multiple user class on road with variable demand, and presents two methods for analysis of social and spatial equity. For these purposes, we study on the characteristics of first-best congestion pricing derived from system optimal in time and in monetary unit, and analyze equity from this congestion pricing with an example network.

• Journal of KIISE:Software and Applications
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• v.37 no.5
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• pp.411-415
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• 2010

The Conflicts between requirements may cause a failure of functions or even project. Currently, most of researches have focused on identifying requirements and some researchers have tried to resolve requirements conflicts but it was only based on requirement priority. This paper proposes the Creative Requirements Conflict Resolution (CRRC) to resolve requirement conflicts in a creative way using TRIZ methodology. TRIZ, which means the theory of solving inventor's problems, is made based on the analysis of over 2 million patent cases and helpful for developing a creative solution to resolve conflicts. CRRC classifies requirement conflicts into groups and then apply TRIZ theory related to each group. At the result of control experiment, CRRC provides the various kinds of creative solution for requirement conflicts.

• Journal of Korea Trade
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• v.25 no.4
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• pp.108-127
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• 2021

Purpose - On the basis of knowledge transfer theory, we empirically explored how three types of human resource (HR) innovation knowledge exchange within a Chaebol drive the global subsidiary performance of the headquarters (HQ) of a Chaebol's globally affiliated companies. Design/methodology - Using a sample of 176 Korean HQ firms of the top 53 Chaebols and 1,061 of their foreign manufacturing subsidiaries (n = 1,061), we tested the relationship between the exchange of explorative and exploitative sustainable HR innovation knowledge among HQ firms of Chaebols, their subsequent transfer of technical HR knowledge via technical schemas, and the subsequent impact on the global subsidiary performance. Findings - The Chaebols' decisions about the three strategic knowledge management options (i.e., the degree of exchange of explorative and exploitative technological HR innovation knowledge and the extent of HQ-subsidiary HR knowledge transfer) have highly significant relationships with the global subsidiary performance. The results help explains the conditions under which the explorative versus exchange of exploitative sustainable HR innovation knowledge pays off by showing the moderating role of the degree of HQ-to-subsidiary technical HR knowledge transfer, at least in the case of the Chaebol as one representative type of the emerging-market business groups. Originality/value - As the first of its kind in the field of sustainable HR innovation knowledge management at the business group level, the present study makes a clear contribution in demonstrating how the performance of Chaebols' manufacturing subsidiaries depends greatly on their strategy for management of knowledge, as reflected in the choices they make about sharing both explorative and exploitative sustainable HR innovation knowledge among HQ firms and the subsequent transfer of HQ's sustainable HR innovation knowledge to the foreign subsidiaries.

• Journal of KIISE:Computer Systems and Theory
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• v.27 no.3
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• pp.287-299
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• 2000

In this paper, we classify multicast methods into three categories, i.e., tree-based, path-based, and hybrid-based multicasts, for a multicomputer employing the bidirectional torus network and wormhole routing. We propose the dynamic partition multicast routing (DPMR) as a path-based algorithm. As a hybrid-based algorithm, we suggest the hybrid multicast routing (HMR), which employs the tree-based approach in the first phase of routing and the path-based approach in the second phase. Performance is measured in terms of the average latency for various message length to compare three multicast routing algorithms. We also compare the performance of wormhole routing having variable buffer size with virtual cut-through switching. The message latency for each switching method is compared using the DPMR algorithm to evaluate the buffer size trade-off on the performance.

• 제어로봇시스템학회:학술대회논문집
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• 1999.10a
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• pp.238-243
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• 1999

Minimum-fuel and -time orbit transfer are two major goals of the satellite trajectory optimization. In this paper, we consider satellites in two coplanar elliptic orbits when the apsidal lines coincide, and analytically find the conditions for the two-impulse minimum-time transfer orbit using Lambert's theorem. The transfer time is a decreasing function of a variable related to the transfer orbit's semimajor axis in the minimum-time case. In the minimum-time case, there is no unique minimum-time solution, but there is a limiting solution. However, there exists a unique solution in the case of minimum-fuel transfer, fur which we find analytically the necessary and sufficient conditions. As a special case, we consider when the transfer angle is one hundred and eighty degrees. In this case, we show that we obtain the classical fuel-optimal Hohmann transfer orbit. We also derive the Hohmann transfer rime and delta-velocity equations from more general equations, which are obtained using Lambert's theorem. We note the tradeoff between minimum-time and - fuel transfer. An optimal coplanar orbit maneuver algorithm to trade off the minimum-time goal against the minimum-fuel goal is proposed. Finally, the numerical simulation results are given to demonstrate the derived theory and the algorithm.

• The Transactions of the Korean Institute of Electrical Engineers D
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• v.49 no.1
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• pp.18-25
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• 2000

In the two-mass servo system driving a load through a flexible shaft, a shaft torsional vibration is often generated. PI controller has been generally used is speed control of such system because of the simplicity of structure and related theory. This paper presents the inertia ratio of the PI servo control system which can be designed by using optimal pole assignment method is fixed. Therefore, it's difficult to obtain the desired control characteristics for different systems only by PI control algorithm. To solve this problems the two-mass speed control system with PID controller is designed by using pole assignment method and an optimum PID parameters are derived by evaluating ITAE(Integral of time multiplied by the absolute error) performance index. But this design method has some problems due to a trade-off between the fast command following property and the attenuation of disturbances and vibrations. In this paper, 2-DOF PID control method which satisfies the command following property, the reduction of overshoot and the property of disturbance rejection at the same time is proposed. This is a practical speed controller using the desired value filter and the feedforward gain. From several simulations, it's clarified that the proposed 2-DOF PID controller is useful for the two-mass system, in comparison with the conventional PID controller.

• Journal of KIISE:Computer Systems and Theory
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• v.26 no.10
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• pp.1217-1224
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• 1999

이동 호스트들의 위치 정보를 관리하는 것은 이동 컴퓨터 시스템에서 중요한 문제이다. 이동 호스트가 이동할 때 위치 수정과 위치 탐색간에는 상반관계가 존재한다. 본 논문에서는 위치 서버를 이용한 간단한 quorum 기반 분산 동적 위치 관리 방법을 제안한다. 이 방법에서는 이동 호스트들의 위치 정보가 모든 위치 레지스터가 아닌 위치 레지스터들의 부분집합에서 효율적으로 관리되기 때문에 위치 수정 비용과 위치 탐색 비용이 감소된다. 그리고 위치 레지스터들의 부분집합은 동적으로 변하고, 각 위치 서버의 부하는 이동 호스트에 대한 질의율을 고려하므로 균등해진다. 제안된 알고리즘의 성능은 위치 수정비용과 위치 탐색비용의 전체비용으로 평가되었고, Prakash의 알고리즘과 비교되었다.Abstract Managing location information of mobile hosts is an important issue in mobile computing systems. There is a trade-off between location update and search, when a mobile host moves. This paper proposes a simple quorum-based distributed dynamic location management method using location registers. The cost of location updates and searches is reduced by our method because the location information of mobile hosts is managed efficiently in a subset of location registers instead of in all location registers. In our method, the subset of location registers is dynamically changed, and the load of each location register is balanced by considering query rate for mobile hosts. The performance of proposed algorithm is evaluated in terms of the total cost of a location update and a location search, and is compared with Prakash's algorithm.

• The Journal of Asian Finance, Economics and Business
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• v.6 no.2
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• pp.15-24
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• 2019

This study analyzes the effect of the capital structure of Korean manufacturing firms on default risk based on Moody's KMV option pricing model where the probability of default is obtained by measuring the distance to default as a covariant in logit model developed by Merton (1974). Based on the panel data of manufacturing firms, this study achieves its primary objective, using a fixed effect regression model and examines the effect of a firm's capital structure on default risk amongst publicly listed firms on Korea exchange during 2005-2016. Empirical results obtained suggest that the rise in short-term debt to assets leads to increase the risk of default whereas the increase in long-term debt to assets leads to decrease the default risk. The benefits of short-term debt financing over a short-term period fade out in the presence of information asymmetry. However, long-term debt financing overcomes the information asymmetry and enjoys the paybacks of tax advantage associated with long-term debt. Additionally, size, tangibility and interest coverage ratio are also the important determinants of default risk. Findings support the trade-off theory of capital structure and recommend the optimal use of long-term debt in a firm's capital structure.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.1
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• pp.71-79
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• 2021

This study investigates the capital structure policy among Indonesian public companies. Previous studies suggest that capital structure policy could follow either static or dynamic behavior. The sample data used in this study was companies in the manufacturing sector, divided into three sub-sectors: the basic and chemical industry, miscellaneous industry, and the consumer goods industry. This study uses panel data from 2010 to 2018, with the Generalized Least Square (GLS) method and compared whether the fixed effect model is better than the common effect model. The results show that the dynamic and non-linear model tests can explain the capital structure determinants than the static and linear models. The dynamic model shows that the capital structure of a certain year is influenced by the capital structure of the previous year. The findings indicate that the company performs some adjustments in its capital structure policy by referring to the previous debt ratio, which implies support to the trade-off theory (TOT). The study also shows that profitability, tangible assets, size, and age explain the variation of capital structure policy. The patterns on the dynamic and non-linear confirm that capital structure runs in a nonlinear pattern, based on the sector, company condition, and the dynamic environment.