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An Empirical Investigation of Agency Costs in the Determination of Performance of Pakistani Nonfinancial Sector

  • Siddiqui, Muhammad Ayub;Afzal, Usman
    • Journal of Distribution Science
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    • v.10 no.5
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    • pp.19-28
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    • 2012
  • The study examines the performance and its relationship with capital structure and agency cost with respect to the industrial configurations and economic groups of Pakistan Economy. The study employs data set of 334 listed joint stock companies from the nonfinancial sectors for the period of 1999-2009 from cotton and textile, engineering, chemical, sugar, cement, fuel and energy, paper and board, transport and communication, and miscellaneous economic groups. Pooled data from the Panel data methodology has been applied to observe the significance of different performance measures through determinant of capital structure and agency costs with special focus on the leverage and cash flows as the direct determinant and interactive variables. The empirical test results using redundant variable tests demonstrate support for agency theory in the context of Pakistan's industrial configurations. The implications of the study point towards more investigations on the subject using industrial configurations as control and moderating variables.

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Thermal Conductivity Properties of Adsorption Matrix According to Silica Gel (실리카겔을 활용한 흡착 경화체의 열전도율 특성)

  • Gwon, Oh-Han;Lim, Hyun-Ung;Lee, Dong-Hoon;Lee, Sang-Soo
    • Proceedings of the Korean Institute of Building Construction Conference
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    • 2017.11a
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    • pp.109-110
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    • 2017
  • In recent years, it has been urgently required to develop and study a product that adsorbs and reduces lardon gas due to the risk of lardon gas in Korea. Therefore, this study develops a board for adsorbing lardon gas into the inside and outside of the room. The thermal conductivity was measured in order to carry out an adiabatic test for satisfying the following conditions. Experimental level and factors were substituted with silica gel. In addition, silica gel was used by dry mixing and prewetting, and 10, 20, and 30% of cement was substituted for each. As a result of the test, the thermal conductivity decreased to 0.45 W/mK with increasing the amount of replacement, and reached a similar level when compared with diatomite.

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An Experimental study on the Effect of Bonding Conditions on Bonding Strength of Ceramic Tiles: Substrate, Setting Material and Curing Condition (도기질 타일 부착조건(바탕면, 붙임재료 및 양생조건)이 부착강도에 미치는 영향에 관한 실험적 평가)

  • Ki, Jun-Do;Lee, Sang-Hyun;Cho, Hong-Bum;Kim, Young-Sun;Kwak, Dong-Young
    • Proceedings of the Korean Institute of Building Construction Conference
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    • 2020.11a
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    • pp.153-154
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    • 2020
  • This study aims to find out the reason that tile adhesive(type III) for ceramic tile does not harden under some conditions especially high humidity even though long curing time. Bonding strength of adhesive between substrate and ceramic tile is evaluated depending on bonding conditions such as substrate kind(concrete, board), bonding material (tile adhesive, tile cement) and curing condition(humidity 50, 70%). Based on the results, this study aimed to establish the quality of tile adhesion strength under the relevant conditions.

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Manufacturing of Wood Wool Board Mixed with Waste Paper-Mulberry Fiber and Analysis of Humidity Characteristics (폐닥나무 섬유를 혼입한 목모보드 제조 및 조습특성 분석)

  • Kim, Nam-Il;Jo, Jung-Hun;Seo, Sung-Kwan;Lee, Oh-Kyu;Lee, Hyung-Won;Bae, Sung-Chul;Chu, Yong-Sik
    • Resources Recycling
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    • v.30 no.4
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    • pp.35-45
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    • 2021
  • The humidity-control function and manufacturing characteristics of wood-wool boards using waste-paper-mulberry fiber were analyzed in this study. For the manufacture of wood-wool boards, the pulverizing times of waste-paper-mulberry fibers were controlled at 30, 60, 120, and 180 s, and the mixing amounts were controlled by adding 0%, 3%, 6%, and 9%, respectively, as compared to cement. Analysis of the moisture adsorption and desorption characteristics of the wood-wool boards controlled for pulverizing time revealed that the wood-wool board with 60 s of pulverized fiber exhibited the best adsorption and desorption performances. It was estimated that the adsorption and desorption performances of the material itself were adequate even when the boards were mixed because of minimal damage to the fiber. In addition, an analysis of the absorption and desorption characteristics of the fiber-mixture-controlled wood-wool boards showed that the 6%-mixed wood-wool board had the best absorption and desorption performances of 291.00 g/m2 and 108.75 g/m2, respectively.

Evaluation of Effective Dose and Exposure Levels of Radon in Office and Plant Buildings (일부 제조업 사업장의 사무 및 공장동에서의 라돈농도 수준 및 유효선량 평가)

  • Chung, Eun Kyo;Kim, Ki Woong
    • Journal of Korean Society of Occupational and Environmental Hygiene
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    • v.27 no.1
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    • pp.38-45
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    • 2017
  • Objectives: Radon may be second only to smoking as a cause of lung cancer. Radon is a colorless, tasteless radioactive gas that is formed via the radioactive decay of radium. Therefore, radon levels can build up based on the amount of radium contained in construction materials such as phospho-gypsum board or when ventilation rates are low. This study provides our findings from evaluation of radon gas at facilities and offices in an industrial complex. Methods: We evaluated the office rooms and processes of 12 manufacturing factories from May 14, 2014 to September 23, 2014. Short-term data were measured by using real-time monitoring detectors(Model 1030, Sun Nuclear Co., USA) indoors in the office buildings. The radon measurements were recorded at 30-minute intervals over approximately 48 hours. The limit of detection of this instrument is $3.7Bq/m^3$. Also, long-term data were measured by using ${\alpha}-track$ radon detectors(${\alpha}-track$, Rn-tech Co., Korea) in the office and factory buildings. Our detectors were exposed for over 90 days, resulting in a minimum detectable concentration of $7.4Bq/m^3$. Detectors were placed 150-220 cm above the floor. Results: Radon concentrations averaged $20.6{\pm}17.0Bq/m^3$($3.7-115.8Bq/m^3$) in the overall area. The monthly mean concentration of radon by building materials were in the order of gypsum>concrete>cement. Radon concentrations were measured using ${\alpha}-track$ in parallel with direct-reading radon detectors and the two metric methods for radon monitoring were compared. A t-test for the two sampling methods showed that there is no difference between the average radon concentrations(p<0.05). Most of the office buildings did not have central air-conditioning, but several rooms had window- or ceiling-mounted units. Employees could also open windows. The first, second and third floors were used mainly for office work. Conclusions: Radon levels measured during this assessment in the office rooms of buildings and processes in factories were well below the ICRP reference level of $1,000Bq/m^3$ for workplaces and also below the lower USEPA residential guideline of $148Bq/m^3$. The range of indoor annual effective dose due to radon exposure for workers working in the office and factory buildings was 0.01 to 1.45 mSv/yr. Construction materials such as phospho-gypsum board, concrete and cement were the main emission sources for workers' exposure.

A Study on the Modern Adaptation of Traditional Thatched Roof House -Special Reference to Interior Elements of Restaurants and Cafes- (전통 초가의 현대적 적용 사례에 관한 연구 -식음료 판매 공간의 실내구성요소를 중심으로-)

  • 오혜경
    • Journal of the Korean Home Economics Association
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    • v.38 no.11
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    • pp.137-149
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    • 2000
  • The Purpose of this study was to investigate actual condition about the modem adaptation of interior elements(floor, wall, ceiling, door & window) in traditional thatched roof house. The examined objects were interior space of 36 restaurants and cafes in Seoul and Kyung-Ki Do area. 1. Floor: Jang-pan was mostly alternated with linoleum which huts Jang-pan pattem. Wumul-maru was adapted from the original and Jang-maru was alternated with wood or linolium which has western state Jang-maru pattern. Mud was adapted from the original or alternated with slate stone or rough finish cement. 2. Wall: Rice proper was alternated with rice paper book witch has chinese character, paper for parcels or modem wall paper. Plaster-white paint or white handy coat. Mud-mud color paint or bamboo stick witch located in the mud wall orginal. Log-half cut log. Wooden board-without cross bar or irregular form. 3. Ceiling: Yondung-Chongang was mostly adapted from the original and Banja-Chonjang was alternated with rice paper book which has Chinese character or modem wall paper. 4. Door and Window: Ttisal-mun and Panjang-mun were adapted from the original. Wan and A’character door and window were simplified character itself.

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Properties of Cement Matrix Using Vegetable Activated Carbon (식물성 활성탄을 활용한 시멘트 경화체의 특성)

  • Lee, Jae-Hoon;Park, Chae-Wool;Lee, Sang-Soo
    • Proceedings of the Korean Institute of Building Construction Conference
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    • 2020.06a
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    • pp.138-139
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    • 2020
  • With the rapid progress of industrialization, indoor air quality is a very important factor for modern people who spend most of their day indoors. The recent issue of fine dust and radon on the portal site's popularity search shows that interest in indoor air quality has increased. Fine dust causes respiratory diseases, and radon causes severe lung cancer. The new material was tested using plant activated carbon, palm activated carbon and bamboo activated carbon. Both palm activated carbon and bamboo activated carbon are porous materials and generate smooth physical adsorption. As a result of the experiment, both the activated carbon tends to gradually decrease in strength and fluidity as the replacement ratio increases. The reason for this is that both activated carbons have the property of absorbing moisture, so it is judged that the strength is lowered by absorbing moisture necessary for curing. In the case of fluidity, it is judged that the fluidity is reduced by absorbing the moisture required for the flow. In the future, if the problem of the color of the finished cured body is compensated, it will be possible to manufacture a functional finishing board to replace the existing interior finishing material.

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Effect of freezing and thawing on the drainage system for leakage treatment (유도배수공법에서 동결융해의 영향)

  • Kim, Dong-Gyou;Yim, Min-Jin
    • Journal of Korean Tunnelling and Underground Space Association
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    • v.19 no.6
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    • pp.1059-1075
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    • 2017
  • The objective of this study was to evaluate the freezing and thawing resistance of the existing drainage system for leakage treatment of underground concrete structures operating in cold regions. The freezing and thawing test was conducted on 4 types of drainage system specimens to evaluate the freezing and thawing resistance of the drainage system. The freezing and thawing resistance was evaluated on 4 types of Hotty-gel, as a waterproofing material, connection methods and on two methods to fix the drainage board with Hotty-gel on the surface of cement concrete specimen. One cycle of the freeze-thaw testing was 48 hours (24 hours of freezing and 24 hours of thawing), and the temperatures of freezing and thawing were at $-18^{\circ}C$ and $10^{\circ}C$, respectively. Among the 4 types of Hotty-gel connection methods, leakage occurred after 28 cycles (8 weeks) of freeze-thawing only in the Hotty-gel connection method with the 'V' groove applied to the corner of the drainage board. No leakage occurred in the 3 types of Hotty-gel connection methods. In two fixing methods, leakage occurred in the method of fixing the drainage board on the cement concrete specimen using the washer, screw and plastic wall plug. Leakage occurred at one point after 10 cycles (3 weeks) of freezing and thawing. After 28 cycles (8 weeks) of freezing and thawing, leakage point increased to 5 points. As time passed, the leak point was not increased, but the amount of leakage was increased at each leak point. The Hotty-gel connection method with cross-sectional diagonal shape was evaluated to be the highest in the production efficiency considering the production time and manufacturing method of the Hotty-gel connection shape. In the construction efficiency considering the construction time and construction method, the fixing method of air nailer, fixed nail and washer was superior to that of the washer, screw and plastic wall plug.

Long-term performance of drainage system for leakage treatment of tunnel operating in cold region (한랭지역에서 운영 중인 터널의 누수처리를 위한 유도배수시스템의 장기 성능 평가)

  • Kim, Dong-Gyou
    • Journal of Korean Tunnelling and Underground Space Association
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    • v.20 no.6
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    • pp.1177-1192
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    • 2018
  • The objective of this study is to develop the existing drainage system for catching the partial leakage of tunnel structures operating in cold region. The drainage system consists of drainage board, Hotty-gel as a waterproofing material, cover for preventing protrusion of Hotty-gel, air nailer, fixed nail, pipe for collecting ground leak, pipe for conveying ground leak, wire-mesh, and sprayed cement mortar. The drainage systems were installed in conventional concrete lining tunnels to evaluate the site applicability and constructability. The performances of waterproof and the drainage in the drainage system were evaluated by injecting 1,000 ml of red water in the back of the drainage system at 7 days, 14 days, 21 days, 28 days, 2 months, 3 months, 4 months, 5 months, 6 months, 7 months and 8 months. During 8 months of field test, the average daily temperature of the tunnel site was measured from $-16.0^{\circ}C$ to $25.6^{\circ}C$. The daily minimum temperature was $-21.3^{\circ}C$ and the daily maximum temperature was $30.8^{\circ}C$. There was no problem in waterproof and drainage performance of the drainage board in the drainage system. However, the pipe for conveying ground leak had the leakage problem from 14 days. It is considered that the leakage of the pipe for conveying ground leak was caused by the deformation of the pipe of the flexible plastic material having a thickness of 0.2 cm by using the high pressure air nailer and the fixing pin and the insufficient thickness and width of the hotty-gel for preventing the leakage.

Effect of Foaming Agent Content on the Apparent Density and Compressive Strength of Lightweight Geopolymers (발포제 함량에 따른 경량 다공성 지오폴리머의 밀도와 강도 특성)

  • Lee, Sujeong;An, Eung-Mo;Cho, Young-Hoon
    • Journal of the Korean Recycled Construction Resources Institute
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    • v.4 no.4
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    • pp.363-370
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    • 2016
  • Lightweight geopolymers are more readily produced and give higher fire resistant performance than foam cement concrete. Lowering the density of solid geopolymers can be achieved by inducing chemical reactions that entrain gases to foam the geopolymer structure. This paper reports on the effects of adding different concentrations of aluminum powder on the properties of cellular structured geopolymers. The apparent density of lightweight geopolymers has a range from 0.7 to $1.2g/m^3$ with 0.025, 0.05 and 0.10 wt% of a foaming agent concentration, which corresponds to about 37~60 % of the apparent density, $1.96g/cm^3$, of solid geopolymers. The compressive strength of cellular structured geopolymers decreased to 6~18 % of the compressive strength, 45 MPa of solid geopolymers. The microstructure of geopolymers gel was equivalent for both solid and cellular structured geopolymers. The workability of geopolymers with polyprophylene fibers needs to be improved as in fiber-reinforced cement concrete. The lightweight geopolymers could be used as indoor wall tile or board due to fire resistance and incombustibility of geopolymers.