• Asia-Pacific Journal of Business
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• v.15 no.2
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• pp.71-88
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• 2024

Purpose - This study provides an overview of existing research and practices related to market risk premiums(MRP), and empirically estimates the MRP in Korea, particularly using the related option prices. We also seek to improve the current MRP practices and explore alternative solutions. Design/methodology/approach - We present the option price-based MRP estimation method, as proposed by Martin (2017), and implement it within the context of the Korean stock market. We then juxtapose these results with those derived from other methods, and compare the characteristics with those of the United States. Findings - We found that the lower limit of the MRP in the Korean stock market shows a much lower value compared to the US. There seems to be the possibility of a market crash, exchange rate volatility, or a lack of option trading data. We investigated the predictive power of the estimated values and discovered that the weighted average of the results of various methodologies using the Principal Component Analysis (PCA) is superior to the individual method's results. Research implications or Originality - It is required to explore various methods of estimating MRP that are suitable for the Korean stock market. In order to improve the estimation methodology based on option prices, it is necessary to develop the methods using the higher-order(third order or above) moments, or consider additional risk factors such as the possibility of a crash.

• Transactions of the Korean Society of Automotive Engineers
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• v.17 no.2
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• pp.90-97
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• 2009

One of the most important factors that affect a person's risk of injury in a motor vehicle crash is the age of the person. This study investigates the characteristics of crash injuries among young, middle-aged and older drivers and occupants. Based on the comprehensive claim data from automobile insurance from 2000 to 2007, this study examines in great detail the drivers and occupants injury body regions and severity by age in car-to-car frontal crashes. It has been shown that elderly drivers and occupants suffer more injuries at a chest region compared to the middle-aged group. This research calls attention to the need for design to make vehicles more protective for older drivers in car-to car frontal crashes.

• Journal of the Korean Society for Precision Engineering
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• v.21 no.12
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• pp.182-191
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• 2004

This study is focused on the development of a child human model, which is composed of skin, skeleton, joints and muscle, etc. The dimension of child outer skin is referred to anthropometric data from KRISS (Korea Research Institute of Standards and Science). The positions of joint and mass properties of body segments are calculated from ATB(Articulated Total Body) program, GEBOD. The properties of bones and muscles are obtained by the way of scaling from adult human model. To verify the developed human model, ROM simulation and sled test is conducted. Developed human model can be effectively applied to the evaluation of human injury in crash situation and development of child restraint system. The explicit finite element program $PAM-CRASH^TM$ was used to simulate six-year old child human model.

• Korean Journal of English Language and Linguistics
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• v.3 no.2
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• pp.255-280
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• 2003

The present paper will argue what can be considered to be principled elements of the initial state S/sub 0/ of the Faculty of Language, which are called the Interface Condition (IC), and how far we can take the strongest minimalist thesis (SMT), which aims to offer principled explanation of language in terms of IC and the principle of efficient computation, to linguistic analysis. We will discuss implications of label-free phrase structures, required by the strong version of the Inclusiveness Condition, and possibilities of crash-free syntax, required by the condition of efficient computation. I will point out problems of Chomsky's assumption that an externally Merged expletive there is a head, which, as a probe, undergoes agreement with the goal T. I will present several advantages we obtain if we maintain A and A' distinction, and assume that wh-movement to the outer [SPEC, υ] is an A'-movement like wh-movement to [SPEC, C].

• Proceedings of the KIEE Conference
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• 2006.07b
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• pp.653-654
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• 2006

This paper proposes a new linear magnetic damper for absorbing shock from a crash accident involving high speed vehicles. The magnetic damper is composed of a conductive plate, a yoke and permanent magnets which are constructed to a Halbach array to improve the damping force. In order to calculate the damping force, finite element analysis(FEA) using J-Mag, a commercial FEA tool, is performed and the results are validated by the experiment. Also, the design optimization of the plate generating the eddy current causing the damping force performed to obtain the most efficient damping force. Finally, the specifications and the performance of the proposed magnetic damper are represented.

• Transactions of the Korean Society of Automotive Engineers
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• v.10 no.4
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• pp.181-191
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• 2002

The homogenization method is applied to maximize crash energy absorption for a given volume. Optimization analysis off closed-hat type example problem is conducted with different impact velocities and thicknesses. The results show that the bending-type deformation for the original design is changed to the folding-type deformation for a new design with a hole, which is partly due to the increase of the crash energy absorption for the new design. Dynamic mean crushing loads of the original and new design are compared with those by the theoretical equation by Wierzbicki. It shows that the dynamic mean crushing loads of new designs are very close to those by Wierzbicki's equation.

• Transactions of the Korean Society of Automotive Engineers
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• v.4 no.2
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• pp.189-197
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• 1996

In this study, the crashworthiness analysis was carried out for the hat type section side rails which had an important role of absorbing the impact energy during frontal crash. In case of a tapered hat type section model, numerical simulation models and test models were designed with varing design variables; welding pitch, taper angle, initiator shape, initiator location. The effect of variation of the design variables was investigated by quasi-static and dynamic test and numerical simulation.

• Proceedings of the KIEE Conference
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• 2006.10c
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• pp.437-439
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• 2006

Actually, The present traffic accident detection system is subsisting limitation of accurate distinction under the crowded condition at intersection because the system defend upon mainly the image information at intersection and digital image processing techniques nearly all. To complement this insufficiency, this article aims to estimate the level of present technology and a realistic possibility by analyzing the acoustic characteristic of crash sound that we have to investigate for improvement of traffic accident detection rate at intersection. The skid sound of traffic accident is showed the special pattern at 1[kHz])${\sim}$3[kHz] bandwidth when vehicles are almost never operated in and around intersection. Also, the frequency bandwidth of vehicle crash sound is showed sound pressure difference oyer 30[dB] higher than when there is no occurrence of traffic accident below 500[Hz].

• Journal of Auto-vehicle Safety Association
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• v.6 no.2
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• pp.55-60
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• 2014

To verify the performance of roadside safety facilities, strength and occupant protection test are performed by evaluation criteria. Strength test use a truck and occupant protection test use a sedan. Strength perfomance is analyzed pass rate by post lateral resistance of the safety barrier. Occupant protection performance is analyzed from THIV(Theoretical Head Impact Velocity) and PHD(Post-impact Head Deceleration) by crash cushion test.

• Transactions of the Korean Society of Automotive Engineers
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• v.13 no.1
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• pp.140-146
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• 2005

This study presents the development of a round recliner using the finite element method. That reduces the number of test repeating times and gives an information about stiffness. A simulation model of round recliner mounting seat module and tooth strength simulation are established using a PAM-CRASH and ABAQUS. With the optimization of gear profile, structural strength design of round recliner was achieved. The round recliner seat module simulation, structure strength simulation and a crash safety are requested by FMVSS test. Solution of round recliner optimum variable study and design problem are searched for round recliner stress, deformation and application. Also an examination of safety is made.