• 유통과학연구
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• 제13권3호
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• pp.69-77
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• 2015

Purpose - The purpose of this study is to examine whether the cash policies of retail firms listed on Korean stock markets are consistent with the evidence provided in the study of Almeida et al. (2004). Liquidity management is an important issue for financially constrained firms relative to financially unconstrained firms. Because there are few sources of external funding, the optimal liquidity policies of financially constrained firms should reflect their own earnings or cash inflows to create opportunities for current and future real investments. According to this simple idea, we estimate the sensitivity of cash to cash flows and simply check whether the estimated sensitivity to cash flows of the cash retained by constrained retail firms is greater than that of the cash retained by unconstrained retail firms. Through this work, we aim to explain why the cash policies of the retail firms listed on the Korean stock markets differ from those of listed manufacturing enterprises. Research design, data, and methodology - To explain a firm's cash holdings, we use only three explanatory variables: earnings before interest and taxes (EBIT), Tobin's q, and size. All the variables are defined as the value of the numerator divided by aggregate assets. Thanks to this definition, it is possible to treat all the sample firms as a single large firm. The sample financial data for this study are collected from the retail enterprises listed on the KOSPI and KOSDAQ markets from 1991 to 2013. We can obtain these data from WISEfn, the financial information company. This study's methodology has its origin in Keynes's simple idea of precautionary liquidity demand: When a firm faces financial constraints, cash savings from earnings or cash inflows become important from the corporate finance perspective. Following this simple idea, Almeida et al. (2004) developed their theoretical model and found empirical evidence that the sensitivity of cash to cash flows varies systematically according to different types of financing frictions. To find more empirical evidence for this idea, we examined the cash flow sensitivity of the cash held by Korean retail firms. Results - Through several robustness tests, we empirically showed that financially constrained Korean retail firms display significant positive propensity to save cash from earnings before interest and taxes, while the estimated cash flow sensitivity of the cash held by unconstrained retail firms is not significant. Despite the relatively low earnings of retail firms, their sensitivity is three times greater than that of manufacturing enterprises. This implies that Korean retail firms have greater intentions of facilitating future investments rather than current investments. Conclusions - The characteristics of the cash policies of Korean retail firms differ from those of manufacturing firms. This contrast may be attributable to industry-oriented policy planning, regulations, and institutional differences. However, the industrial policymakers should observe signals of the long-term growth options of retail firms based on their high propensity to save from their cash inflows.

• 대한조선학회논문집
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• 제44권2호
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• pp.139-147
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• 2007

The ultimate goal of structural design is to find the optimal design results which satisfies both safety and economy at the same time. Optimum design has been studied for the last several decades and is being studied. in this study, an optimum algorithm which is based on the genetic algorithm has been applied to the multi-object problem to obtain the optimum solutions which minimizes structural weight and construction cost of panel blocks in ship structures at the same time. Mathematical problems are dealt at first to justify the reliability of the present optimum algorithm. And then the present method has been applied to the panel block model which can be found in ship structures. From the present findings it has been seen that the present optimum algorithm can reasonably give the optimum design results.

• 대한기계학회논문집A
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• 제36권3호
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• pp.305-311
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• 2012

보강 원통셸의 기본 고유 진동수를 최적화하기 위해서, 보강재의 개수를 1 개에서 5 개까지 보강된 원통셸에 대한 시뮬레이션을 수행하였다. 고유 진동수에 대한 최적화를 시뮬레이션하기 위해서 ANSYS 11.0 을 사용하였다. 최적화 방법으로 Subproblem Approximation Method 를 이용하였다. 최적화의 설계 함수로는 T-형 링 보강재의 기하형상이며, 제한 함수로는 보강에 따른 추가 부피가 10 % 이내로 제한하였다. 목적함수는 기본 고유진동수를 최대화하는 것이다. 최적 설계에 대한 성능 지표는 비보강 원통셸과 보강원통셸의 고유진동수와 부피의 비로서 정의하였다. 최적 성능 지수는 3 개의 보강재를 사용한 원통셸에서 나타났다.

• KSII Transactions on Internet and Information Systems (TIIS)
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• 제9권2호
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• pp.483-503
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• 2015

This paper analyzes the optimal user density and power allocation for Device-to-Device (D2D) communication underlaying cellular networks on multiple bands with the target of maximizing the D2D transmission capacity. The entire network is modeled by Poisson point process (PPP) which based on stochastic geometry. Then in order to ensure the outage probabilities of both cellular and D2D communication, a sum capacity optimization problem for D2D system on multiple bands is proposed. Using convex optimization, the optimal D2D density is obtained in closed-form when the D2D transmission power is determined. Next the optimal D2D transmission power is obtained in closed-form when the D2D density is fixed. Based on the former two conclusions, an iterative algorithm for the optimal D2D density and power allocation on multiple bands is proposed. Finally, the simulation results not only demonstrate the D2D performance, density and power on each band are constrained by cellular communication as well as the interference of the entire system, but also verifies the superiority of the proposed algorithm over sorting-based and removal algorithms.

• KSII Transactions on Internet and Information Systems (TIIS)
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• 제7권8호
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• pp.1786-1804
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• 2013

We consider a specific interference-limited wireless relay system that comprises several cooperation units (CUs) which are defined as a source and destination node pair with an associated relay node. In the wireless relay system, all source nodes simultaneously transmit their own signals and the relay node in each CU then forwards the received signal to the destination node, causing co-channel interference at both the relay node and the destination node in each CU. The co-channel interference at the relay node is closely related to that at the destination node in each CU. We first derive the end-to-end outage probability in a CU over Rayleigh slow-fading channels with interference for the decode-and-forward (DF) relaying strategy. Then, on the assumption that each CU is allocated with equal power we design an optimal power allocation between the source node and the relay node in each CU to minimize the outage probability of the investigated CU. At last, in the case that each CU is not allocated with equal power and the sum of their power is constrained, we present an optimal power allocation between CUs to minimize the sum of the outage probability of all CUs. The analytical results are verified by simulations.

• Journal of Electrical Engineering and Technology
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• 제1권2호
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• pp.200-210
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• 2006

This paper proposes the motion generation method in which the movement of the 3-links leg subsystem in constrained to slider-link and a singular posture can be easily avoided. This method is the realization of jumping control moving in a vertical direction, which mimics a cat's behavior. To consider the movement from the point of the constraint mechanical system, a robotics system for realizing the motion will change its configuration according to the position. The effectiveness of the proposed scheme is illustrated by simulation and experimental results.

• 한국진공학회:학술대회논문집
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• 한국진공학회 2012년도 제43회 하계 정기 학술대회 초록집
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• pp.431-431
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• 2012

A compact tokamak reactor concept as a 14 MeV neutron source is desirable from an economic viewpoint for a fusion-driven transmutation reactor. LAR (Low Aspect Ratio) tokamak allows a potential of high "see full txt" operation with high bootstrap current fractions and can be used for a compact fusion neutron source. For the optimal design of a reactor, a radial build of reactor components has to be determined by considering the plasma physics and engineering constraints which inter-relate various reactor components and are constrained to use ITER physics and technology. In a transmutation reactor, the blanket should produce enough tritium for tritium self-sufficiency and the neutron multiplication factor, keff should be less than 0.95 to maintain sub-criticality. The shield should provide sufficient protection for the superconducting toroidal field (TF) coil against radiation damage and heating effects of the fusion neutrons, fission neutrons, and secondary gammas. In this work, characteristics of transmutation reactor based on LAR tokamak is investigated by using the coupled system analysis.

• 전자공학회논문지B
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• 제30B권9호
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• pp.36-44
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• 1993

In the development of a high speed and light weight manipulator, it is necessary to consider the flexibility of a robotic arm. The infinite dynamics must be analyzed to obtain the finite mode modeling to achieve the feasible controller design of the robotic arm. The modeling procedures of the flexible robot arm, and natural frequencies and mode shapes by the constrained and unconstrained mode method are illustrated. The transfer function of the robot arm with a payload is also shown. The controller is designed by the pole assignment and optimal control theory to compensate for the unmodelled dynamic effects to the low order system. Also, the pole assignment method involving the harmonic vibration mode is presented through computer simulation.

• 한국생산제조학회지
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• 제23권3호
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• pp.266-272
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• 2014

This study proposes a closed-loop shaping control method with $H_{\infty}$ optimization for optical image stabilization (OIS) in mobile phone cameras. The image stabilizer is composed of a horizontal stage constrained by ball bearings and actuated by the magnetic force from voice coil motors. The displacement of the stage is measured by Hall effect sensors. From the OIS frequency response experiment, the transfer function models of the stage and Hall effect sensor were identified. The weight functions were determined considering the tracking performance, noise attenuation, and stability with considerable margins. The $H_{\infty}$ optimal controller was executed using closed-loop shaping and limiting the controller order, which should be less than 6 for real-time implementation. The control algorithm was verified experimentally and proved to operate as designed.

• 대한전기학회논문지:전기기기및에너지변환시스템부문B
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• 제50권10호
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• pp.494-500
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• 2001

This paper presents the shape optimization to minimize the BEMF(Back Electro-Motive Force) harmonics of PM type synchronous generators. RSM(Response Surface Methodology) is well adapted to make analytical model for a complex problem considering a lot of interaction of design variables. In this paper, RSM is used to find the optimal solution. The 2D-Finite Element Method is used to obtain the observer data of the BEMF and SQP(Sequential Quadratic Problem method) is used to solve the constrained nonlinear optimization problem.