• Title/Summary/Keyword: agency problem

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CEO Compensation and Concurrent Executive Employment of Outside Directors: A Panel Data Analysis of S&P 1500 firms

  • KIM, YOUNG-CHUL;SONG, SUJIN
    • KDI Journal of Economic Policy
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    • v.38 no.3
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    • pp.17-35
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    • 2016
  • In many advanced countries, most outside directors are executives, active or retired, at other firms; in other words, executives from other companies make executive compensation decisions. This situation may hinder the board of directors (BOD) in their efforts to optimize executive compensation levels objectively. Using a panel data analysis of the S&P 1500 companies, we provide supplemental evidence of whether, and to what extent, the concurrent executive employment of outside directors distorts the executive pay decisions at a given company. An unbiased fixed-effect estimation confirms that a $1.00 increase in CEO pay at outside directors' primary companies results in an approximate increase of $0.22 in CEO pay at the given company. From a policy perspective, this added agency problem - caused by the BOD and not by management - is noted as difficult to control; although a firm may establish board independence, the inherent concurrent employment of directors on a board continues to exist.

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Direct Missile Bending Frequency Estimation using the Robust Kalman Filter (강인 칼만필터를 이용한 유도탄 기체 진동 주파수 추정기 설계)

  • Ra, Won-Sang;Whang, Ick-Ho
    • Proceedings of the KIEE Conference
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    • 2005.07d
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    • pp.2477-2479
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    • 2005
  • A robust bending frequency tracker is proposed to design the adaptive notch filter which removes the time-varying missile structural modes from the sensor measurements. To do this, the state-space form of a bending frequency model is derived under the assumption that the bending signal could be described as the lightly damped sinusoid. Since the resultant bending frequency model contains the parametric uncertainties in the measurement matrix, the design problem of bending frequency tracker is tackled by applying the robust Kalman filter to the model. This technique could be easily expanded to the multiple frequencies case because it newly illuminates the bending frequency tracking problem in view of general state estimation.

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Bearing-only Localization of GNSS Interference using Iterated Consider Extended Kalman Filter

  • Park, Youngbum;Song, Kiwon
    • Journal of Positioning, Navigation, and Timing
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    • v.9 no.3
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    • pp.221-227
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    • 2020
  • In this paper, the Iterated Consider Extended Kalman Filter (ICEKF) is proposed for bearing-only localization of GNSS interference to improve the estimation performance and filter consistency. The ICEKF is an extended version of Consider KF (CKF) for Iterated EKF (IEKF) to consider an effect of bearing measurement bias error to filter covariance. The ICEKF can mitigate the EKF divergence problem which can occur when linearizing the nonlinear bearing measurement by a large initial state error. Also, it can mitigate filter inconsistency problem of EKF and IEKF which can occur when a weakly observable bearing measurement bias error state is not included in filter state vector. The simulation result shows that the localization error of the ICEKF is smaller than the EKF and IEKF, and the Root Mean Square (RMS) estimation error of ICEKF matches the covariance of filter.

A Modified Weighted Least Squares Approach to Range Estimation Problem (보완 가중 최소자승기법을 이용한 피동거리 추정필터 설계)

  • Whang, Ick-Ho;Ra, Won-Sang
    • Proceedings of the KIEE Conference
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    • 2003.07d
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    • pp.2088-2090
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    • 2003
  • A practical recursive weighted least square(WLS) solution is proposed to solve the passive ranging problem. Apart from the previous works based on the extended Kalman filter(EKF), to ensure the convergency at long-range, the proposed scheme makes use of line-of-sight(LOS) rate instead of bearing information. The influence of LOS rate measurement errors is investigated and it is asserted that the WLS estimates contain bias and scale factor errors. Together with simple compensation algorithm, the estimation errors of proposed filter can be reduced dramatically.

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A Study on Optimal Operation against Anti-Air Missiles with Consideration of Anti-Surface Missile Kill Probability (대함유도탄 요격 확률을 고려한 함정 대공방어유도탄의 최적 운용 연구)

  • Park, Hyeonwoo;Lee, Hanmin
    • Journal of the Korea Institute of Military Science and Technology
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    • v.22 no.6
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    • pp.815-823
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    • 2019
  • A naval surface-to-air missile is an effective countermeasure against increasing threats of anti-ship missiles. Optimal operation is imperative for high survivability due to limited defense resources of a warship. This paper addresses a problem of optimal engagement to maximize the overall probability of intercept under Shoot-Look-Shoot tactics. The problem is formulated and analyzed with consideration of a realistic single-shoot probability model. The analysis shows that a global solution is achieved for some engagement scenarios. A numerical algorithm to optimize the overall probability of intercept is suggested. An illustrative example is provided to verify our results.

A Study on the Characteristics of a Counter Rotating DC Motor (반전직류전동기(Counter Rotating DC Motor, CRDCM)의 특성 연구)

  • Kim, Hyun-Chel;Kong, Yeong-Kyung;Kong, Gwan-Sik
    • Proceedings of the KIEE Conference
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    • 1994.11a
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    • pp.101-103
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    • 1994
  • This report describes CRDCM(Counter Rotating DC Motor) that we have designed, manufactured and tested. CRDCM have two rotating rotors: one is a outer rotor as field set, another is a inner rotor as armature set. One of the most difficult problem is an elimination of the centrifugal force acting on brush when outer rotor is rotated. We solved a problem for centrifugal force of commutation brush by compensation set of counter mass through trial and error. It was verified the performance of motor at present.

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A Study on the Explanation Scheme using Problem Solving Primitives

  • Lee, Gye Sung
    • International Journal of Advanced Culture Technology
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    • v.7 no.3
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    • pp.158-165
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    • 2019
  • Knowledge based system includes tools for constructing, testing, validating and refining the system along with user interfaces. An important issue in the design of a complete knowledge based system is the ability to produce explanations. Explanations are not just a series of rules involved in reasoning track. More detailed and explicit form of explanations is required not only for reliable reasoning but also for maintainability of the knowledge based system. This requires the explanation mechanisms to extend from knowledge oriented analysis to task oriented explanations. The explicit modeling of problem solving structures is suggested for explanation generation as well as for efficient and effective reasoning. Unlike other explanation scheme such as feedback explanation, the detailed, smaller and explicit representation of problem solving constructs can provide the system with capability of quality explanation. As a key step to development for explanation scheme, the problem solving methods are broken down into a finer grained problem solving primitives. The system records all the steps with problem solving primitives and knowledge involved in the reasoning. These are used to validate the conclusion of the consultation through explanations. The system provides user interfaces and uses specific templates for generating explanation text.

Tutorial on Frequency and Polarization Assignment Algorithms for Military Communication Networks (군용 통신망에서의 주파수 및 편파 지정 알고리즘 튜토리얼)

  • Koo, Bonhong;Chae, Chan-Byoung;Park, Sung-Ho;Park, Hwi-Sung;Ham, Jae-Hyun
    • The Journal of Korean Institute of Communications and Information Sciences
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    • v.41 no.11
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    • pp.1608-1618
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    • 2016
  • In this paper we introduce a graph theory approach to solve the frequency assignment problem(FAP) for military communication network. Prior algorithms are implemented adaptively to the problem, and enhanced algorithms are proposed to show that their results approximately approached the optimum performance. We also proposed polarization assignment algorithms to enhance the FAP performances.

The Status, Problem and Improvement Method for Cross-ownership between Agency and Production (매니지먼트사와 외주제작사간 상호겸영 실태와 문제점 및 개선 방안)

  • Kim, Jeong-Seob
    • The Journal of the Korea Contents Association
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    • v.16 no.12
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    • pp.60-69
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    • 2016
  • Korean management agency and production's size is bigger than ever applying diversification strategy since the Korean Wave started in 2000. Thus, the cross-ownership between two sectors is widespread and it's side effect such as unfair trading occurred among them. Came up with this problem, this study has focused on the analysis of the cross-ownership status of the entire Korean listed agencies and productions and the quest of the alternatives to solve the problem through in-depth interviews of the stakeholders and experts. Results showed that the horizontal regulation and American regulatory systems should be applied considering the previous law because the cross-ownership level was so high. In conclusion, it was proposed three regulatory models as follows : first, accept the cross-ownership and prohibit casting their contracted actors in their art, second, ban on the cross-ownership and allow mutual investment within a 10 to 20 percent stake, third, blanket ban on the cross-ownership and investment.

Harmony Search for Virtual Machine Replacement (화음 탐색법을 활용한 가상머신 재배치 연구)

  • Choi, Jae-Ho;Kim, Jang-Yeop;Seo, Young Jin;Kim, Young-Hyun
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.20 no.2
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    • pp.26-35
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    • 2019
  • By operating servers, storage, and networking devices, Data centers consume a lot of power such as cooling facilities, air conditioning facilities, and emergency power facilities. In the United States, The power consumed by data centers accounted for 1.8% of total power consumption in 2004. The data center industry has evolved to a large scale, and the number of large hyper scale data centers is expected to grow in the future. However, as a result of examining the server share of the data center, There is a problem where the server is not used effectively such that the average occupancy rate is only about 15% to 20%. To solve this problem, we propose a Virtual Machine Reallocation research using virtual machine migration function. In this paper, we use meta-heuristic for effective virtual machine reallocation. The virtual machine reallocation problem with the goal of maximizing the idle server was designed and solved through experiments. This study aims to reducing the idle rate of data center servers and reducing power consumption simultaneously by solving problems.