• Title/Summary/Keyword: Valuation Error

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A Study on the Evaluation Methods from Probability Computation of Bridge (교량의 과하중 확률계산을 통한 상태평가 등급 산정방법에 대한 연구)

  • Kim, Doo-Hwan;Yoo, Chang-Uk
    • Journal of the Korean Society of Safety
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    • v.24 no.4
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    • pp.53-58
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    • 2009
  • The importance of process for repair and reinforcement of the bridge is increasing because of the lack of the fatigue load and stress, a lowering of the bridge load carrying capacity owing to impact and oscillation, deterioration on cultivation periods of the bridge, etc. Typically the experimenter values the bridge load carrying capacity by the real rating factor and response modification factor in bridge load rating through static load test and dynamic load test. But the error occurred in reliability of response modification factor in bridge load rating according to experience of experimenter. so tests of connecting probability theory and valuation of the bridge recently. The study is to compute the real load carrying capacity of the bridge and the rating factor and response modification factor on grade of the bridge, and calculate the probability of over-loaded truck load from Weigh In Motion(WIM) Data in FORTRAN programming applying to Monte-Carlo Simulation. At the result of this study, it is acquired that the new grade is computed for the probability of over-loaded truck load and surface inspection. The A grade is over 1.95, B grade is $1.55{\sim}1.94$, C grade is $1.26{\sim}1.54$, D grade is $1.14{\sim}1.25$, E grade is under 1.13 of rating factor, respectively.

A Study on Veracity of Raw Data based on Value Creation -Focused on YouTube Monetization

  • CHOI, Seoyeon;SHIN, Seung-Jung
    • International Journal of Internet, Broadcasting and Communication
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    • v.13 no.2
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    • pp.218-223
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    • 2021
  • The five elements of big data are said to be Volume, Variety, Velocity, Veracity, and Value. Among them, data lacking the Veracity of the data or fake data not only makes an error in decision making, but also hinders the creation of value. This study analyzed YouTube's revenue structure to focus the effect of data integrity on data valuation among these five factors. YouTube is one of the OTT service platforms, and due to COVID-19 in 2020, YouTube creators have emerged as a new profession. Among the revenue-generating models provided by YouTube, the process of generating advertising revenue based on click-based playback was analyzed. And, analyzed the process of subtracting the profits generated from invalid activities that not the clicks due to viewers' pure interests, then paying the final revenue. The invalid activity in YouTube's revenue structure is Raw Data, not pure viewing activity of viewers, and it was confirmed a direct impact on revenue generation. Through the analysis of this process, the new Data Value Chain was proposed.

Reliability improvement methods of AF track circuits for the train control system (열차내 연산시스템용 AF궤도회로 신뢰성향상 방안 연구)

  • Park, Jae-Young
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.13 no.10
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    • pp.4762-4767
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    • 2012
  • The AF track circuit that detecting train position and transmitting various train control data for DTG to the train on-board is composed of single operation system. If a failure occurs on this system, the driver should be operate the train by manually until the system is restored, because the system cannot control switch machines and signals by automatically. In this process the human error affects to the train delay, collision, derailment and critical safety accident. Therefore, this document has analyzed the effects that each failure mode influences on system and train, and quantified the failure valuation point and class. Basis on this quantified analysis result, MTBF increased and MTTR decreased and failure number also decreased by adopting the independent installation of power supply, the replacement of defected capacitors, the installation of resister cooling system and the improvement of maintenance methods. And the failure factors of AF track circuits were decreased by conducting the preventive maintenance which is a quantitative way of maintenance system by experience.

Estimation of Economic Valuation of Forest Landscape Function Using Conditional Logit Model (조건부 로짓 모델을 이용한 산림경관기능의 경제적 가치 평가)

  • Kim, Eui-Gyeong;Kim, Dong-Hyeon;Yoo, Jin-Chae;Kim, Mi-Ok
    • Journal of Korean Society of Forest Science
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    • v.99 no.6
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    • pp.891-899
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    • 2010
  • The purpose of this study is to estimate economic value of forest landscape function using conditional logit model, applied by Choice Experiment. For the study, we have chosen attributes and levels of forest landscape. In specific, topographical forest type, forest type, forest density, recreational factor (side trip, accessibility of valley) and WTP were included in attributes. Based on factors, we have made 48 choice sets with Balanced and Orthogonal form using SAS 9.1. The efficiency of questionnaire was 6.02 (D-Error: 0.1) and choice set and socio-economic variable were selected. In order to reduce cognitive load of respondent, 96 choice sets were divided into 4 types in questionnaire so that respondent could respond to 12 choice sets respectively. Population was citizens from 7 metropolitan cities including Seoul, and the interview survey was conducted to find out average annual WTP per household for the total 280 interviewees. As a result, In the Non-ASC model, Mcfadden' ${\rho}$ had 0.21, and Log Likelihood: -2,631. Average annual WTP per household for forest landscape was 266,723 Won(Korean currency).

Social Cost Comparison of Air-Quality based on Various Traffic Assignment Frameworks (교통량 배정 방법에 따른 대기질의 사회적 비용 비교분석)

  • Lee, Kyu Jin;Choi, Keechoo
    • KSCE Journal of Civil and Environmental Engineering Research
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    • v.33 no.3
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    • pp.1087-1094
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    • 2013
  • This study aims at enhancing the objective estimation of social cost of air quality due to mobile emission. More specifically, it examines the difference between the daily oriented and hourly oriented estimation results of social air quality cost and draws implications from the comparative analysis. The result indicates that the social cost of air quality differs up to approximately 24 times depending on the analysis time period. Moneywise, the difference between daily and hourly assignments amounts to the average of 653.5 billion won whereas only 1% of error occurred in the estimation result based on peak and nonpeak based hourly assignment. This study reaffirms the need for time-based travel demand management for emission reduction, and confirms the feasibility of emission estimation by travel demand forecasting method over the conventional method employed by the CAPSS.

Remote Estimation Models for Deriving Chlorophyll-a Concentration using Optical Properties in Turbid Inland Waters : Application and Valuation (분광특성을 이용한 담수역 클로로필-a 원격 추정 모형의 적용과 평가)

  • Lee, Hyuk;Kang, Taegu;Nam, Gibeom;Ha, Rim;Cho, Kyunghwa
    • Journal of Korean Society on Water Environment
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    • v.31 no.3
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    • pp.272-285
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    • 2015
  • Accurate assessment of chlorophyll-a (Chl-a) concentrations in inland waters using remote sensing is challenging due to the optical complexity of case 2 waters. and the inherent optical properties (IOPs) of natural waters are the most significant factors affecting light propagation within water columns, and thus play indispensable roles on estimation of Chl-a concentrations. Despite its importance, no IOPs retrieval model was specifically developed for inland water bodies, although significant efforts were made on oceanic inversion models. So we have applied and validated a recently developed Red-NIR three-band model and an IOPs Inversion Model for estimating Chl-a concentration and deriving inland water IOPs in Lake Uiam. Three band and IOPs based Chl-a estimation model accuracy was assessed with samples collected in different seasons. The results indicate that this models can be used to accurately retrieve Chl-a concentration and absorption coefficients. For all datasets the determination coefficients of the 3-band models versus Chl-a concentration ranged 0.65 and 0.88 and IOPs based model versus Chl-a concentration varied from 0.73 to 0.83 respectively. and Comparison between 3-band and IOPs based models showed significant performance with decrease of root mean square error from 18% to 33.6%. The results of this study provides the potential of effective methods for remote monitoring and water quality management in turbid inland water bodies using hyper-spectral remote sensing.

An Evaluation of Uncertainty for Reference Standards Solar Radiation Data (참조표준 일사량 데이터에 대한 불확도 평가)

  • Kim, Sang-Yeob;Jo, Dok-Ki;Yun, Chang-Yeol;Kim, Kwang-Deuk
    • Journal of the Korean Solar Energy Society
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    • v.31 no.1
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    • pp.51-58
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    • 2011
  • The energy makes the basic element which improves the quality of life with motive power of industry and life. However, using the fossil fuel resources was restricted through it's abuse and exhaustion, and that cause a global warming resultingly. According to the reason, the world increased the interest that are stability and use of new and renewable energy which is clean energy with environment. Therefore, the property data of new and renewable is needed for developing and supplying the energy. In other words, the data of new and renewable energy becomes the standards for supply and evaluation of new and renewable energy with development of industry and technology. Also, the necessity came to the fore as the reference and standards of new and renewable energy data. Therefore, in this study, we evaluate and collect the solar radiation data as the new and renewable data and process the collected data through the standards for valuation. We evaluate uncertainty with standards which are NREL, WMO, and GUM. Whereby the data becomes reference standards data and gains the credibility. For the reliability data, we correct the measuring instrument with correction period. Using the DQMS and SERI QC, we efficiently manage and evaluate the solar radiation data. As a result, we evaluate uncertainty as 1,120 case about 16 area. we achieve credibility of data from evaluated solar radiation data and provide an accurate information to user. The annual average of horizontal radiation presents between 1,484 and 4,577, then the uncertainty evaluates from 163 to 453. The error of uncertainty presents smaller than the measurement values. So, we judge a credibility of data by expression of reliability quantitatively. In additional, the reference standards data which is possible to approach anywhere will be used for the supporting related industry and policy making.

An Appropriated Share between Revenue Expenditure and Capital Expenditure in Capital Stock Estimation for Infrastructure (SOC 자본스톡 추계에 있어서 수익적 지출과 자본적 지출의 적합 분배)

  • Cho, J.H.;Lee, S.J.;Oh, H.S.;Kwon, J.H.;Jung, N.Y.;Kim, M.S.
    • Journal of Korean Society of Industrial and Systems Engineering
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    • v.41 no.2
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    • pp.153-158
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    • 2018
  • At the Bank of Korea, capital stock statistics were created by the PIM (perpetual inventory method) with fixed capital formation data. Asset classifications also included 2 categories in residential buildings, 4 non-residential buildings, 14 constructions, 9 transportation equipment, 28 machinery, and 2 intangible fixed assets. It is the Korean government accounting system which is developed much with the field of the national accounts including the valuation, but until 2008 it was consistent with single-entry bookkeeping. Many countries, including Korea, were single-entry bookkeeping, not double-entry bookkeeping which can be aggregated by government accounting standard account. There was no distinction in journaling between revenue and capital expenditure when it was consistent with single-entry bookkeeping. For example, we would like to appropriately divide the past budget accounts and the settlement accounts data that have been spent on dredging into capital expenditure and revenue expenditure. It, then, tries to add the capital expenditure calculated to FCF (fixed capital formation), because revenue expenditure is cost for maintenance etc. This could be a new direction, especially, in the estimation of capital stock by the perpetual inventory method for infrastructure (SOC, social overhead capital). It should also be noted that there are differences not only between capital and income expenditure but also by other factors. How long will this difference be covered by the difference between the 'new series' and 'old series' methodologies? In addition, there is no large difference between two series by the major asset classification level. If this is treated as a round-off error, this is a problem.

Analysis of Corporate Value Relevance Form of Tax Avoidance (조세회피의 기업가치 관련성 형태 분석)

  • Gee-Jung Kwon
    • Asia-Pacific Journal of Business
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    • v.14 no.4
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    • pp.233-254
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    • 2023
  • Purpose - This study aims to verify whether the effect of tax avoidance on corporate value is non-linear in the Korean financial markets. Design/methodology/approach - This study believes that the cause of the inconsistent empirical analysis results of previous studies that verified the relationship between tax avoidance and firm value may be an error in assuming linearity, and verifies whether a nonlinear relationship exists. The sample company in this study is a December settlement corporation listed on the Korean stock market, and the analysis period is from 2000 to 2021. In the empirical analysis model, Tobin's Q is used as a proxy for corporate value, tax avoidance is used as the main independent variable, and a regression model is designed with corporate size, growth rate, and debt ratio set as control variables. Findings - As a result of the empirical analysis, it can be confirmed that there is an inverted U-shaped nonlinear relationship between tax avoidance and corporate value. In the additional analysis using Ohlson (1995) firm valuation model for the robustness of the results of the empirical analysis, the same nonlinear value relationship between tax avoidance can be confirmed. Research implications or Originality - This study is considered to be meaningful in that it verifies the non-linear relationship of tax avoidance, which has not been attempted in previous studies. The meaning of the inverted U-shaped nonlinear relationship presented in this study is that corporate tax avoidance acts as a factor that increases corporate value up to a certain level, but rather becomes a factor that decreases corporate value when it exceeds a critical point. These results are expected to provide new perspectives and perspectives on tax avoidance to companies belonging to the Korean capital market.

Radiotherapic Valuation of Paraffin Wax for Patients with Oral Cancer (구강암 환자 치료시 치과용 기초상 왁스(Paraffin Wax)의 유용성 평가)

  • Na, Kyoung-Su;Seo, Seuk-Jin;Lee, Je-Hee;Yoo, Sook-Heun
    • The Journal of Korean Society for Radiation Therapy
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    • v.23 no.1
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    • pp.41-49
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    • 2011
  • Purpose: This study is designed to investigate radiotherapic valuation of Paraffin Wax, which is newly formed for this study and generally utilized in dentistry, and Mouth Piece and Putty impression, which are commonly used in radiotherapy, for oral cavity as a compensator. Materials and Methods: Each compensator was formed by $10{\times}10{\times}1cm$ and measured radiation dose attenuation ratio with reference of water phantom which is made of tissue-equivalent materials. Two patients with oral cancer underwent DRR (Digitally Reconstructed Radiogrph) of Offline Review Program of Aria System and Portal vision for 5 times for each material to evaluate reproducibility by each filling materials. Moreover, MU (monitor unit) changes by dose absorption were considered in the case of inevitable implication of an filling materials in the range for radiotherapy. Results: Radiation dose attenuation ratios were shown -0.7~+3.7% for Mouth Piece, +0.21~+0.39% for Paraffin Wax and -2.71~-1.76% for Putty impression. Error ranges of reproducibility of positions were measured ${\pm}3mm$ for Mouth Piece, ${\pm}2mm$ for Paraffin Wax and ${\pm}2mm$ mm for Putty impression. Difference of prescription MU from dose absorption with an filling material increased +7.8% (250 MU) in Putty impression and -0.9% (230 MU) in Paraffin Wax as converted into a percentage from the standard phantom, Water 232 MU. Conclusion: Dose reduction of boundary between cavity and tissue was observed for Mouth Piece. Mouth Piece also had low reproducibility of positions as it had no reflection of anatomy of oral cavity even though it was a proper material to separate Maxilla and Mandible during therapy. On the other hand, Putty impression was a suitable material to correctly re-position oral cavity as before. However, it risked normal tissues getting unnecessary over irradiation and it caused radiation dose decrease by -2.5% for 1cm volume in comparison of it of water phantom. Dose reduction in Paraffin Wax, Fat Tissue-Equivalent Material, was smaller than other impressions and position reproducibility of it was remarkable as it was possible to make an anatomy reflected impression. It was also well fitted to oral cavity to transfer radiation dose planned in radiotherapy. Thus, Paraffin Wax will be an ideal material in radiotherapy for patients with oral cancer.

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