• The Journal of Industrial Distribution & Business
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• v.11 no.5
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• pp.7-16
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• 2020

Purpose: Prior studies empirically examine how financial flexibility is related to required returns by using realized returns and considering cash holdings as net debts, but they fail to find consistent results. Conjecturing that inappropriate proxy of required returns and aggregation of cash and debts caused the inconsistent results, this study revisits this topic by using a refined proxy of required returns and separating cash holdings from debts. Research design, data and methodology: This study uses a multivariate regression model to investigate the relationship between required returns on cash holdings and financial leverage. The required returns are estimated using the return decomposition method by vector autoregression model. Empirical tests use US stock market data from1968 to 2011. Results: Empirical results reveal that both cash holdings and leverage are positively related to required returns. The positive relation is stronger in economic downturns than in economic upturns. Conclusions: Three major findings are drawn. First, risky firms prefer large cash balance. Second, information shocks in the realized returns caused failure of prior studies to find consistent positive relationship between leverage and realized returns. Third, cash and leverage are related to required returns in the same direction; therefore, cash cannot be considered as negative debts.

• Nuclear Engineering and Technology
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• v.55 no.3
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• pp.827-838
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• 2023

Centrifugal pump is a key part of nuclear power plant systems, and its health status is critical to the safety and reliability of nuclear power plants. Therefore, fault diagnosis is required for centrifugal pump. Traditional fault diagnosis methods have difficulty extracting fault features from nonlinear and non-stationary signals, resulting in low diagnostic accuracy. In this paper, a new fault diagnosis method is proposed based on the improved particle swarm optimization (IPSO) algorithm-based variational modal decomposition (VMD) and relevance vector machine (RVM). Firstly, a simulation test bench for rotor faults is built, in which vibration displacement signals of the rotor are also collected by eddy current sensors. Then, the improved particle swarm algorithm is used to optimize the VMD to achieve adaptive decomposition of vibration displacement signals. Meanwhile, a screening criterion based on the minimum Kullback-Leibler (K-L) divergence value is established to extract the primary intrinsic modal function (IMF) component. Eventually, the factors are obtained from the primary IMF component to form a fault feature vector, and fault patterns are recognized using the RVM model. The results show that the extraction of the fault information and fault diagnosis classification have been improved, and the average accuracy could reach 97.87%.

• The Journal of Fisheries Business Administration
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• v.46 no.1
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• pp.93-107
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• 2015

This study aims to analyze causalities among Hairtail prices by distribution channel using a vector autoregressive model. This study applies unit-root test for stability of data, uses Granger causality test to know interaction among Hairtail Prices by distribution channel, and employes the vector autoregressive model to estimate statistical impacts among t-2 period variables used in model. Analyzing results of this study are as follows. First, ADF, PP, and KPSS tests show that the change rate of Hairtail price by distribution channel differentiated by logarithm is stable. Second, a Granger causality test presents that the producer price of Hairtail leads the wholesale price and then the wholesale price leads the consumer price. Third, the vector autoregressive model suggests that the change rate of Hairtail producer price of t-2 period variables statistically, significantly impacts change rates of own, wholesale, and consumer prices at current period. Fourth, the impulse response analysis indicates that impulse responses of the structural shocks with a respectively distribution channel of the Hairtail prices are relatively more powerful in own distribution channel than in other distribution channels. Fifth, a forecast error variance decomposition of the Hairtail prices points out that the own price has relatively more powerful influence than other prices.

• Proceedings of the Korean Information Science Society Conference
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• 2007.10d
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• pp.7-11
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• 2007

In this paper the one of image hide method for good compression ratio and satisfactory image quality of the cover image and the embedding image based on the singular value decomposition and the vector quantization using fuzzy c-mean clustering is introduced. Experimental result shows that the embedding image has invisibility and robustness to various serious attacks.

• Journal of the Korean Society of Manufacturing Process Engineers
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• v.15 no.4
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• pp.23-29
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• 2016

Rotary machine is major equipment in industry. The rotary machine is applied for a machine tool, ship, vehicle, power plant, and so on. But a spindle fault increase product's expense and decrease quality of a workpiece in machine tool. A turbine in power plant is directly connected to human safety. National crisis could be happened by stopping of rotary machine in nuclear plant. Therefore, it is very important to know rotary machine condition in industry field. This study mentioned fault diagnosis algorithm with statistical parameter and empirical mode decomposition. Vibration locations can be found by analyze kurtosis of data from triaxial axis. Support vector of data determine threshold using hyperplane with fault location. Empirical mode decomposition is used to find fault caused by intrinsic mode. This paper suggested algorithm to find direction and causes from generated fault.

• The Journal of the Acoustical Society of Korea
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• v.24 no.5
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• pp.262-270
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• 2005

In this paper, a new temporal decomposition method is proposed. where not oniy distortion but also entropy are involved in segmentation. The interpolation functions and the target feature vectors are determined by a dynamic Programing technique. where both distortion and entropy are simultaneously minimized. The interpolation functions are built by using a training speech corpus. An iterative method. where segmentation and estimation are iteratively performed. finds the locally optimum Points in the sense of minimizing both distortion and entropy. Simulation results -3how that in terms of both distortion and entropy. the Proposed temporal decomposition method Produced superior results to the conventional split vector-quantization method which is widely employed in the current speech coding methods. According to the results from the subjective listening test, the Proposed method reveals superior Performance in terms of qualify. comparing to the Previous vector quantization method.

• Journal of applied mathematics & informatics
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• v.7 no.2
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• pp.439-451
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• 2000

To compute derivatives using matrix vector multiplication method, new algorithms were introduced in [1.2]n By these algorithms, we reduced roundoff error in computing derivative using Chebyshev collocation methods (CCM). In this paper, some applications of these algorithms ar presented.

• Journal of Power Electronics
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• v.17 no.6
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• pp.1500-1511
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• 2017

The purpose of this paper is to study a high-performance control scheme for neutral-point-clamping three-level (NPC-3L) inverter fed dual three-phase permanent magnet synchronous motor (PMSM) drives by considering some asymmetric factors such as the non-identical parameters in phase windings. To implement this, the system model is analyzed for dual three-phase PMSM drives with asymmetric factors based on the vector space decomposition (VSD) principle. Based on the equivalent circuits, PI controllers with feedforward compensation are used in the d-q subspace for regulating torque, where the cut-off frequency of the PI controllers are set at the twice the fundamental frequency for compensating both the additional DC component and the second order component caused by asymmetry. Meanwhile, proportional resonant (PR) controllers are proposed in the x-y subspace for suppressing the possible unbalanced currents in the phase windings. A dual three-phase space vector modulation (DT-SVM) is designed for the drive, and the balancing factor is designed based on the numerical fitting surface for balancing the DC link capacitor voltages. Experimental results are given to demonstrate the validity of the theoretical analysis and the proposed control scheme.

• Journal of the Korean Mathematical Society
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• v.18 no.1
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• pp.63-71
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• 1981

• Journal of the Korean Mathematical Society
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• v.31 no.1
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• pp.139-148
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• 1994