• Journal of Distribution Science
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• v.21 no.5
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• pp.101-111
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• 2023

Purpose: The purpose of this paper is to examine the effect of the VKOSPI index on short-term stock returns after a large-scale stock price shock of individual stocks of firms in the distribution industry in Korea. Research design, data, and methodology: This study investigates the effect of the change of the VKOSPI index or investor mood on abnormal returns after the event date from January 2004 to July 2022. The significance of the abnormal return, which is obtained by subtracting the rate of return estimated by the market model from the rate of actual return on each trading day after the event date, is determined based on T-test and multifactor regression analysis. Results: In Korea's distribution industry, the simultaneous occurrence of a bad investor mood and a large stock price decline, leads to stock price reversals. Conversely, the simultaneous occurrence of a good investor mood and a large-scale stock price rise leads to stock price drifts. We found that the VKOSPI index has strong explanatory power for these reversals and drifts even after considering both company-specific and event-specific factors. Conclusions: In Korea's distribution industry-related stock market, investors show an asymmetrical behavioral characteristic of overreacting to negative moods and underreacting to positive moods.

• Economic and Environmental Geology
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• v.41 no.4
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• pp.453-464
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• 2008

This study is to examine a relation between coal mining subsidence occurrence at abandoned underground coal mines and underground goaf with respect to surface geology, subsurface structure, depth and thickness of coal beds and the distribution of drifts. A study is carried out at the site where susceptibility of coal mining subsidence was proven high in a previous study. In that previous study, the susceptibility of coal mining subsidence was spatially analyzed by GIS using digitized geological maps, investigation reports, digitized mining tunnel maps without consideration of subsurface structure and the multi-level arrangement of drifts. Here we analyze geological characteristics around the goaf and the distribution of coal seam based upon digitized geological maps and investigation reports on the study area. And digitized mining tunnel maps are also used to analyze the depth and multi-level arrangement of drifts. The results show that weakened surface rock strength, relatively shallow depth and large thickness of coal seam below the surface are closely related to the coal mining subsidence occurrence. Complicatedly inter-connected drifts, shallow depth of drifts and surface rock fractures are revealed as additional control factors affecting coal mining subsidence. These factors examined in this study as well as original factors should be taken into account for the quantitative estimation of coal mining subsidence occurrence at abandoned underground coal mine.

• Journal of Distribution Science
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• v.21 no.9
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• pp.103-114
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• 2023

Purpose: This paper aims to assess psychological heuristics' effectiveness on cumulative returns after significant stock price changes. Specifically, it compares availability and anchoring heuristics' empirical validity due to conflicting stock return predictions. Research Design, Data, and Methodology: This paper analyzes stock price changes of Korean distribution industry stocks in the KOSPI market from January 2004 to July 2022, where daily fluctuations exceed 10%. It evaluates availability heuristics using daily KOSPI index changes and tests anchoring heuristics using 52-week high and low stock prices as reference points. Results: As a result of the empirical analysis, stock price reversals did not consistently appear alongside changes in the daily KOSPI index. By contrast, stock price drifts consistently appeared around the 52-week highest stock price and 52-week lowest stock price. The result of the multiple regression analysis which controlled for both company-specific and event-specific variables supported the anchoring heuristics. Conclusions: For stocks related to the Korean distribution industry in the KOSPI market, the anchoring heuristics theory provides a consistent explanation for stock returns after large-scale stock price fluctuations that initially appear to be random movements.

• Bulletin of the Korean Chemical Society
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• v.35 no.9
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• pp.2726-2732
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• 2014

The promoting effect of rhodium on the structure and activity of the supported Cu-Co based catalysts for CO hydrogenation was investigated in detail. The samples were characterized by DRIFTS, $N_2$-adsorption, XRD, $H_2$-TPR, $H_2$-TPD and XPS. The results indicated that the introduction of rhodium to Cu-Co catalysts resulted in modification of metal dispersion, reducibility and crystal structure. DRIFTS results of CO hydrogenation at reaction condition (P=2 MPa, $T=260^{\circ}C$) indicated the addition of 1 wt % rhodium improved hydrogenation ability of Cu-Co catalysts. The ethanol selectivity and CO conversion were both improved by 1 wt % Rh promoted Cu-Co based catalysts. The alcohol distribution over un-promoted and rhodium promoted Cu-Co based catalysts obeys A-S-F rule and higher chain growth probability was got on rhodium promoted catalyst.

• Steel and Composite Structures
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• v.25 no.4
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• pp.473-484
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• 2017

In this study a seismic retrofit scheme for a building structure was presented using steel plate slit dampers. The energy dissipation capacity of the slit damper used in the retrofit was verified by cyclic loading test. Genetic algorithm was applied to find out the optimum locations of the slit dampers satisfying the target displacement. The seismic retrofit of the model structure using the slit dampers was compared with the retrofit with enlarging shear walls. A simple damper distribution method was proposed using the capacity spectrum method along with the damper distribution pattern proportional to the inter-story drifts. The validity of the simple story-wise damper distribution procedure was verified by comparing the results of genetic algorithm. It was observed that the capacity-spectrum method combined with the simple damper distribution pattern leaded to satisfactory story-wise distribution of dampers compatible with the optimum solution obtained from genetic algorithm.

• Steel and Composite Structures
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• v.21 no.4
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• pp.863-882
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• 2016

This study aims to introduce a new bracing system by which even super-wide frames with large openings can be braced. The proposed system, hereafter called Cable-Pulley Brace (CPB), is a tension-only bracing system with a rectilinear configuration. In CPB, a wire rope passes through a rectilinear path around the opening(s) and connects the lower corner of the frame to its opposite upper one. CPB is a secondary load resisting system with a nonlinear-elastic hysteretic behavior due to its initial pre-tension load. As a result, the required energy dissipation would be provided by the MRF itself, and the main intention of using CPB is to contribute to the initial and post-yield stiffness of the whole system. Using a stiffness calibration technique, optimum placement of the CPBs is discussed to yield a uniform displacement demand along the height of the structure. A displacement-based design procedure is proposed by which the MRF with CPB can be designed to achieve a uniform distribution of inter-story drifts with predefined values. Obtained results indicated that CPB leads to significant reductions in maximum and residual deformations of the MRF at the expense of minor increase in the maximum base shear and developed axial force demands in the columns. In the case of a typical 5-story residential building, compared to SMRF system, CPB system reduces maximum amounts of inter-story and residual drifts by 35% and 70%, respectively. Moreover, openings of the frame are not interrupted by the CPB. This is the most appealing feature of the proposed bracing system from architectural point of view.

• Advances in concrete construction
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• v.2 no.4
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• pp.261-280
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• 2014

In many parts of the world, reinforced concrete (RC) buildings, designed and built in accordance with older codes, have suffered severe damage or even collapse as a result of recent near-fault earthquakes. This is particularly due to the deficiencies of most of the older (and even some of the recent) codes in dealing with near fault events. In this study, a tested three-storey frame designed for gravity loads only was selected to represent those deficient buildings. Nonlinear time history analyses were performed, followed by damage assessment procedures. The results were compared with experimental observation of the same frame showing a good match. Damage and fragility analyses of the frame subjected to 204 pulse-type motions were then performed using a selected damage model and inter-storey drifts. The results showed that the frame located in near-fault regions is extremely vulnerable to ground motions. The results also showed that the damage model better captures the damage distribution in the frame than inter-storey drifts. The first storey was identified as the most fragile and the inner columns of the first storey suffered most damage as indicated by the damage index. The findings would be helpful in the decision making process prior to the strengthening of buildings in near-fault regions.

• Steel and Composite Structures
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• v.20 no.4
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• pp.777-799
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• 2016

One of the major components for performance based seismic design is accurate estimation of critical seismic demand parameters. While nonlinear seismic analysis is the most appropriate analysis method for estimation of seismic demand parameters, this method is very time consuming and complex. Single mode pushover analysis method, N2 method and multi-mode pushover analysis method, modal pushover analysis (MPA) are two nonlinear static methods that have recently been used for seismic performance evaluation of few lateral load-resisting systems. This paper further investigates the applicability of N2 and MPA methods for estimating the seismic demands of ductile unstiffened steel plate shear walls (SPSWs). Three different unstiffened SPSWs (4-, 8-, and 15-storey) designed according to capacity design approach were analysed under artificial and real ground motions for Vancouver. A comparison of seismic response quantities such as, height-wise distribution of floor displacements, storey drifts estimated using N2 and MPA methods with more accurate nonlinear seismic analysis indicates that both N2 and MPA procedures can reasonably estimates the peak top displacements for low-rise SPSW buildings. In addition, MPA procedure provides better predictions of inter-storey drifts for taller SPSW. The MPA procedure has been extended to provide better estimate of base shear of SPSW.

• Tunnel and Underground Space
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• v.22 no.6
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• pp.412-428
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• 2012

To achieve mine development, a large amount of data concerned with the geological structure and the ore body had to be investigated and collected through geological survey, drilling and geophysical explorations. In most previous cases, however, the data were usually analyzed two dimensionally and those results showed some limits because of their 2D presentation. Those 2D maps such as geological plane sections or longitudinal sections cause lots of difficulties in understanding the complex geological structure or the feature of ore body in a spatial way. In this study, research area was set on the abandoned Yangyang iron mine in Korea and the Sugaeng ore body within the mine was selected as the research target to design a mine haulage system for reopening. A 3D mine model of this area was tried to be constructed using a 3D modelling software, GEMS. An accurate 3D model including the ore body, the geological structure, the old underground mine drifts and the new mine drifts was constructed under the purpose of reopening of the abandoned iron mine. Especially, mine design for trackless haulage system was conducted. New inclines and drifts were planned and modelled 3 dimensionally considering the utilization of old drifts and shaft. In addition to the 3D modelling, geostatistical technique was adopted to generate a spatial distribution of the ore grade and the rock physical properties. 3D model would be able to contribute in solving problems such as evaluating ore reserves, planning the mine development and additional explorations and changing the development plans, etc.

• Journal of Distribution Science
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• v.21 no.3
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• pp.93-100
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• 2023

Purpose: The purpose of this paper is to confirm whether stocks belonging to the distribution industry in Korea have reversals, following large daily stock price changes accompanied by large trading volumes. Research design, data, and methodology: We examined whether there were reversals after the event date when large-scale stock price changes appeared for the entire sample of distribution-related companies listed on the Korea Composite Stock Price Index from January 2004 to July 2022. In addition, we reviewed whether the reversals differed depending on abnormal trading volume on the event date. Using multiple regression analysis, we tested whether high trading volume had a significant effect on the cumulative rate of return after the event date. Results: Reversals were confirmed after the stock price shock in the Korean distribution industry and the return after the event date varied depending on the size of the trading volume on the event day. In addition, even after considering both company-specific and event-specific factors, the trading volume on the event day was found to have significant explanatory power on the cumulative rate of return after the event date. Conclusions: Reversals identified in this paper can be used as a useful tool for establishing a trading strategy.