• Asia-Pacific Journal of Business
• /
• v.11 no.3
• /
• pp.95-106
• /
• 2020

Purpose - This study examines the information effect of the disclosure of new office investments on the Korean stock market and investigates determinant of performance of sample firms. Design/methodology/approach - The sample consists of companies listed on the Korean Exchange that announced investments in new office construction for eleven-years from January 2007 to December 2017. It analyzes excess return using event study methodology and studies the determinants of abnormal return with multiple regression analysis. Findings - We find that abnormal returns of the short and long window are positive on average and statistically significant. In particular, CAR of high growth subsample is a larger positive return than that of the low one both short and long window. Difference in abnormal returns by investment size is observed only in short time window. But there is not observed difference by cash holding level. Research implications or Originality - This finding is able to be added to the evidence of the theory of corporate value maximization academically. Moreover, it shows the possibility that building a new office can have a positive effect on corporate value. It is expected to help investors make decisions because it can provide useful information to market participants in practice.

• Journal of Integrative Natural Science
• /
• v.13 no.2
• /
• pp.69-75
• /
• 2020

Multiple Input Multiple Output (MIMO) is one of the important wireless communication technologies. This paper proposes MIMO system capacity enhancement by using convolution of periodic circulating vector signals. This signal represents statistical dependencies between transmission signal with discrete noise and receiver signal with the linear shifting of MIMO channel capacity by positive extents. We examine the channel capacity, outage probability and SNR of MIMO receiver by adding log determinant signal with validated in terms of numerical simulation.

• ETRI Journal
• /
• v.38 no.2
• /
• pp.291-301
• /
• 2016

In this paper, we study an optimized block-diagonal zero-forcing (BD-ZF) precoder in a two-tiered cognitive network consisting of a macro cell (MC) and a small cell (SC). By exploiting multiuser multiple-input and multiple-output Vandermonde-subspace frequency-division multiplexing (VFDM) transmission, a cognitive SC can coexist with an MC. We first devise a cross-tier precoder based on the idea of VFDM to cancel the interference from the SC to the MC. Then, we propose an optimized BD-ZF intra-tier precoder (ITP) to suppress multiuser interference and maximize the throughput in the SC. In the case where the dimension of a provided null space is larger than that required by the BD-ZF ITP, the optimized BD-ZF ITP can collect all limited channel gain by optimizing rotating and selecting matrices. Otherwise, the optimized BD-ZF ITP is validated to be equivalent to the conventional BD-ZF ITP in terms of throughput. Numerical results are presented to demonstrate the throughput improvement of the proposed optimized BD-ZF ITP and to discover the impact of imperfect channel state information.