• Title/Summary/Keyword: estimate cost

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A Funding Source Decision on Corporate Bond - Private Placements vs Public Bond - (기업의 회사채 조달방법 선택에 관한 연구 - 사모사채와 공모사채 발행을 중심으로 -)

  • An, Seung-Cheol;Lee, Sang-Whi;Jang, Seung-Wook
    • The Korean Journal of Financial Management
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    • v.21 no.2
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    • pp.99-123
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    • 2004
  • We focus in this study on incremental financing decisions and estimate a logit model for the probability a firm will choose a private placement over a public bond issue. We hypothesize that information asymmetry, financial risk, agent cost, and proprietary information may affect a firm's choice between public debt and private placements. We find that as the size of firm increases, the probability of choosing a private placement declines significantly. The age of the firm, however, is not a significant factor affecting the firm's choice between public and privately-placed bond. The coefficients on the firm's leverage and non-investment grade dummy are significantly positive, meaning firms with high financial risk and credit risk select private placements. The findings regarding agency-related variables, PER and Tobin's Q, are somewhat complex. We find significant evidence that firms with high PER prefer private placements to public bonds, suggesting that borrowers with options to engage in asset substitution or underinvestment are more likely to choose private placements. The coefficient of Tobin's Q is negative, but not significant, which weakly support the hold-up hypothesis. When we construct an interaction term on the Tobin's Q with a non-investment rating dummy, however, the Tobin's Q interaction term becomes positive and significant. Thus, high Tobin's Q firms with a speculative rating are significantly more likely to choose a private placement, regardless of the potential hold-up problems. The ratio of R&D to sales, proxy for proprietary information, is positively significant. This result can be interpreted as evidence in favor of a role for proprietary information in the debt sourcing decision process for these firms.

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CQI Action Team Approach to Prevent Pressure Sores in Intensive Care Unit of an Acute Hospital Korea (중환자의 욕창 예방 연구 : 욕창 예방 QI팀을 중심으로)

  • Kang, So Young;Choi, Eun-Kyung;Kim, Jin-Ju;Ju, Mi-Jung
    • Quality Improvement in Health Care
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    • v.4 no.1
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    • pp.50-63
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    • 1997
  • Background : A pressure sore was defined as any skin lesion caused by unrelieved pressure and resulting in damage to underlying tissue. The health care institutions in the United States were reported the incident rate of pressure sores ranging from 6 to 14 %. Intensive Care Unit needed highest quality of care has been found over 40% incidence rate of pressure sore. Also, Annual expenditures for the care of pressure sores in patients in the United States have been estimated to be $7.5 billion; furthermore, 50 percent more nursing time is required to care for patients with pressure sore in comparison to the time needed to implement preventive measures against pressure sore formation. However, In Korea, there were little reliable reports, or researches, about incidence rates of pressure sore in health care institution including intensive care unit and about the integrated approach like CQI action team for risk assessment, prevention and treatment of pressure ulcers. Therefore, this study was to develop pressure sore risk assessment tool and the protocol for prevention of pressure sore formation through CQI action team activities, to monitor incident rate of pressure sore and the length of sore formation for patients at high risk, and to approximately estimate nursing time for sore dressing during research period as the effect of CQI action team. Method : CQI action team in intensive care unit, launched since early 1996, reviewed the literature for the standardized risk assessment tool, developed the pressure sore assessment tool based on the Braden Scale, tested its validity, compared on statistics including incidence rate of pressure sore for patients at high risk. Throughout these activities, CQI action team was developed the protocol, called as St. Marys hospital Intensive Care Unit Pressure Sore Protocol, shifted the emphasis from wound treatment to wound prevention. After applied the protocol to patients at high risk, the incident rate and the period of prevention against pressure development were tested with those for patients who received care before implementation of protocol by Chi-square and Kaplan-Meier Method of Survival Analysis. Result : The CQI action team found that these was significant difference of in incidence rate of pressure sores between patients at high risk (control group) who received care before implementation of protocol and those (experimental group) who received it after implementation of protocol (p<.05). 25% possibility of pressure sore formation was shown for the patients with 6th hospital day in ICU in control group. In experimental group, the patients with 10th hospital day had 10% possibility of pressure sore. Therefore, there was significant difference(p<.05) in survival rate between two groups. Also, nursing time for dressing on pressure sore in experimental group was decreased as much as 50% of it in control group. Conclusion : The collaborative team effort led to reduced incidence, increased the length of prevention against pressure sore, and declined nursing care times for sore dressing. However, there have had several suggestions for future study. The preventive care system for pressure sore should be applied to patients at moderate, or low risk throughout continuous CQI team activities based on Bed Sore Indicator Fact Sheet. Hospital-wide supports, such as incentives, would be offered to participants for keeping strong commitment to CQI team. Also, Quality Information System monitoring incidents and estimating cost of poor quality, like workload (full time equivalence) or financial loss, regularly in a hospital has to be developed first for supporting CQI team activities as well as empowering hospital-wide QI implementation. Being several limitations, this study would be one of the report cards for the CQI team activities in intensive care unit of an acute hospital and a trial of quality improvement of health care in Korea.

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The Usefulness of Rapid Triple Test for Cardiac Marker in Forensic Paragnosis of Sudden Cardiac Death (심장표지물질 간이검사의 급성심장사 법의학적 사후진단 유용성에 관한 연구)

  • Lim, Chae-Won;Kim, Jin-Gak
    • Korean Journal of Clinical Laboratory Science
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    • v.49 no.2
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    • pp.108-113
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    • 2017
  • A sudden cardiac death (SCD) is defined as an unnatural sudden death caused by heart disease. To determine the cause of death, observation of the microscopic change in cardiac muscle tissue is suggested, rather than visual postmortem examination. However, this suggestion is time consuming to be applied in the field, is cost-ineffective, and is inconvenient. Therefore, the purpose of this study is to understand whether temporary inspection used to examine the cardiac marker (Myoglobin, CK-MB, cTn I) in postmortem blood via rapid cardiac triple test kit (which is used by clinics to diagnose patients with acute myocardial infarction) can effectively be utilized for the paragnosis of sudden, unnatural cardiac death. The results of postmortem examination and temporary investigation found that 23 groups (76.7%), among the 30 experimental groups, were assumed to be non-traumatic sudden cardiac deaths, which indicated a positive response (according to comparison with forensic autopsy); 4 groups, among the 10 control groups, were assumed to be cerebrovascular disease, which indicated a negative response; 1 group was assumed to be alcoholic and drug poisoning, indicating a positive response; and 1 group was assumed to be oxygen deficiency due to suffocation, indicating a positive response. Hence, it was found that the level of sensitivity and specificity of cardiac marker's temporary inspection showed significant result, 76.7% and 80% respectively. Given this, temporary inspection can be effectively used for the paragnosis of sudden cardiac death when the medical history, situation of the site, and postmortem interval are considered together. With the result of precedent research on time of first revelation and extinction in blood, and difference in concentration over time progress according to the characteristic of cardiac marker's (myoglobin, CK-MB, cTn I) individual material, further research on concentration of cardiac marker per each post time needs to be conducted in order to estimate time science death (which is required to identify the cause of death and investigation).

PRC Maritime Operational Capability and the Task for the ROK Military (중국군의 해양작전능력과 한국군의 과제)

  • Kim, Min-Seok
    • Strategy21
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    • s.33
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    • pp.65-112
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    • 2014
  • Recent trends show that the PRC has stepped aside its "army-centered approach" and placed greater emphasis on its Navy and Air Force for a wider range of operations, thereby reducing its ground force and harnessing its economic power and military technology into naval development. A quantitative growth of the PLA Navy itself is no surprise as this is not a recent phenomenon. Now is the time to pay closer attention to the level of PRC naval force's performance and the extent of its warfighting capacity in the maritime domain. It is also worth asking what China can do with its widening naval power foundation. In short, it is time to delve into several possible scenarios I which the PRC poses a real threat. With this in mind, in Section Two the paper seeks to observe the construction progress of PRC's naval power and its future prospects up to the year 2020, and categorize time frame according to its major force improvement trends. By analyzing qualitative improvements made over time, such as the scale of investment and the number of ships compared to increase in displacement (tonnage), this paper attempts to identify salient features in the construction of naval power. Chapter Three sets out performance evaluation on each type of PRC naval ships as well as capabilities of the Navy, Air Force, the Second Artillery (i.e., strategic missile forces) and satellites that could support maritime warfare. Finall, the concluding chapter estimates the PRC's maritime warfighting capability as anticipated in respective conflict scenarios, and considers its impact on the Korean Peninsula and proposes the directions ROK should steer in response. First of all, since the 1980s the PRC navy has undergone transitions as the focus of its military strategic outlook shifted from ground warfare to maritime warfare, and within 30 years of its effort to construct naval power while greatly reducing the size of its ground forces, the PRC has succeeded in building its naval power next to the U.S.'s in the world in terms of number, with acquisition of an aircraft carrier, Chinese-version of the Aegis, submarines and so on. The PRC also enjoys great potentials to qualitatively develop its forces such as indigenous aircraft carriers, next-generation strategic submarines, next-generation destroyers and so forth, which is possible because the PRC has accumulated its independent production capabilities in the process of its 30-year-long efforts. Secondly, one could argue that ROK still has its chances of coping with the PRC in naval power since, despite its continuous efforts, many estimate that the PRC naval force is roughly ten or more years behind that of superpowers such as the U.S., on areas including radar detection capability, EW capability, C4I and data-link systems, doctrines on force employment as well as tactics, and such gap cannot be easily overcome. The most probable scenarios involving the PRC in sea areas surrounding the Korean Peninsula are: first, upon the outbreak of war in the peninsula, the PRC may pursue military intervention through sea, thereby undermining efforts of the ROK-U.S. combined operations; second, ROK-PRC or PRC-Japan conflicts over maritime jurisdiction or ownership over the Senkaku/Diaoyu islands could inflict damage to ROK territorial sovereignty or economic gains. The PRC would likely attempt to resolve the conflict employing blitzkrieg tactics before U.S. forces arrive on the scene, while at the same time delaying and denying access of the incoming U.S. forces. If this proves unattainable, the PRC could take a course of action adopting "long-term attrition warfare," thus weakening its enemy's sustainability. All in all, thiss paper makes three proposals on how the ROK should respond. First, modern warfare as well as the emergent future warfare demonstrates that the center stage of battle is no longer the domestic territory, but rather further away into the sea and space. In this respect, the ROKN should take advantage of the distinct feature of battle space on the peninsula, which is surrounded by the seas, and obtain capabilities to intercept more than 50 percent of the enemy's ballistic missiles, including those of North Korea. In tandem with this capacity, employment of a large scale of UAV/F Carrier for Kill Chain operations should enhance effectiveness. This is because conditions are more favorable to defend from sea, on matters concerning accuracy rates against enemy targets, minimized threat of friendly damage, and cost effectiveness. Second, to maintain readiness for a North Korean crisis where timely deployment of US forces is not possible, the ROKN ought to obtain capabilities to hold the enemy attack at bay while deterring PRC naval intervention. It is also argued that ROKN should strengthen its power so as to protect national interests in the seas surrounding the peninsula without support from the USN, should ROK-PRC or ROK-Japan conflict arise concerning maritime jurisprudence. Third, the ROK should fortify infrastructures for independent construction of naval power and expand its R&D efforts, and for this purpose, the ROK should make the most of the advantages stemming from the ROK-U.S. alliance inducing active support from the United States. The rationale behind this argument is that while it is strategically effective to rely on alliance or jump on the bandwagon, the ultimate goal is always to acquire an independent response capability as much as possible.

Estimation on Optimum Fishing Effort of Walleye Pollock Fishery in the East Coast of Korea : Based on the Economic Analysis between Danish Seine Fishery and Trawl Fishery for Walleye Pollock (한국 동해 명태 어업의 적정어획노력량 추정 -동해구기선저인망어업과 동해구트롤어업의 경제성분석을 근거로-)

  • 이장욱
    • The Journal of Fisheries Business Administration
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    • v.22 no.2
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    • pp.75-99
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    • 1991
  • A quantitative analysis was carried out to monitor the commercial yield level of walleye pollock Theragra chalcogramma in the east coast of Korea, based on available data on catch and fishing effort, catch per unit of effort including fish prices from 1911 to 1988, using a traditional yield model. The results from the quantitative assessment were based to estimate maximum economic yield (MEY) and optimal fishing effort (E-opt) at MEY. On the other hand, interaction aspects between danish seine fishery and trawl fishery mainly targeting walleye pollock in the east coast of Korea were studied to predict optimal situation in fishing effort level from economic point of view which gives the most benefits to the two fisheries. Total production of walleye pollock in 1911 when its catch record was begun for the first time was about 12, 000 metric tons(M/T), and then the catch trend maintained nearly at the level of 50, 000 M/T per annum, showing a decreasing trend until 1930. The highest production from historical data base on walleye pollock fishery statistics was from the years in 1939 and 1940, about 270, 000 M/T and 26, 000 M/T, respectively. No production of the fish species was recorded during the years from 1943 to 1947, and from 1949 to 1951. From 1952 onwards annual production was only available from the southern part of 38$^{\circ}$N in the east coast. During two decades from 1952 to 1970, the production had sustained about less than 30, 000 M/T every year. Annual production showed an increasing trend from 1971, reaching a maximum level of approximately 162, 000 M/T in 1981. Afterwards, it has deceased sharply year after year and amounted to 180, 000 M/T in 1988. The catch composition of walleye pollock for different fishery segments during 1970~1988 showed that more than 70% of the total catch was from danish seine fishery until 1977 but from 1978 onwards, the catch proportion did not differ from one another, accounting for the nearly same proportion. Catch per unit of effort (CPUE) for both danish seine fishery and trawl fishery maintained a decline tendency after 1977 when the values of CPUE were at level of 800 kg/haul for the former fishery and 1, 300 kg/haul for the latter fishery, respectively. CPUEs of gillnet fishery during 1980~1983 increased to about 3.5 times as high value as in the years, 1970~1979 and during 1987~1988 it decreased again to the level of the years, 1970~1978. The bottom longline fishery's CPUE wa at a very low level (20 kg/basket) through the whole study years, with exception of the value (60 kg/basket) in 1980. Fishing grounds of walleye pollock in the east coast of Korea showed a very limited distribution range. Danish seine fishery concentrated fishing around the coastal areas of Sokcho and Jumunjin during January~February and October~December. Distributions of fishing grounds of trawl fishery were the areas along the coastal regions in the central part of the east coast. Gillnet and bottom longline fisheries fished walleye pollock mainly in the areas of around Sokcho and Jumunjin during January~February and December. Relationship between CPUEs' values from danish seine fishery and trawl fishery was used to standardize fishing effort to apply to surplus production model for estimating maximum sustainable yield (MSY) and optimum fish effort (F-opt) at MSY. The results suggested a MSY of 114, 000 M/T with an estimated F-opt of 173, 000 hauls per year. Based on the estimates of MSY and F-opt, MEY was estimated to be about 94, 000 M/T with a range of 81, 000 to 103, 000 M/T and E-opt 100, 000 hauls per year with a range of 80, 000 to 120, 000 hauls. The estimated values of MEY and E-opt corresponded to 82% of MSY and 58% of F-opt, respectively. An optimal situation in the fishing effort level, which can envisage either simultaneously maximum yield or maximum benefit for both danish seine fishery and trawl fishery, was determined from relationship between revenue and cost of running the fleet : the optimal fishing effort of danish seine fishery was about 52, 000 hauls per year, corresponding to 50 danish seiners and 27, 000 hauls per year which is equal nearly to 36 trawlers, respectively. It was anticipated that the net income from sustainable yield estimated from the respective optimal fishing effort of the two fisheries will be about 3, 800 million won for danish seine fishery and 1, 000 million won for trawl fishery.

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Estimation of the Value of Road Traffic Noise within Apartment Housing Prices (아파트가격에 내재된 도로교통소음가치 추정)

  • 임영태;손의영
    • Journal of Korean Society of Transportation
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    • v.19 no.4
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    • pp.19-33
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    • 2001
  • In the developed countries, traffic noise is one of most serious problems faced by people's lives. So the importance of the traffic noise is quite well recognized by the infrastructure planners as well as the people. The traffic noise is valued in monetary terms in some countries and it is reflected in estimating the net present value or benefit/cost ratio. On the contrary, the effects of traffic noise are not reflected in the assessment of infrastructure in most cases in Korea. However, as the income level has been increasing, more people have been becoming to put more importance on their living conditions. The purpose of this paper is to estimate the value of traffic noise in the Seoul metropolitan area. The housing price were surveyed to use the quasi-hedonic price technique. By this way, two housing prices at the same floor level in different 128 complexes in the Seoul metropolitan area were surveyed. the actual traffic noise level was also measured. The differences of housing prices and noise levels were analyzed using the various types of regression models. The value is quite different by size of house. The value of large house is higher than that of small house. Since the income level of people in large house is higher than that in small house. it might be said that value of traffic noise for high income people is higher than that for low income people. Moreover, the increase of 1dB(A) noise affects the house price by about 0.3% in Seoul metropolitan area.

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Wavelet Transform-based Face Detection for Real-time Applications (실시간 응용을 위한 웨이블릿 변환 기반의 얼굴 검출)

  • 송해진;고병철;변혜란
    • Journal of KIISE:Software and Applications
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    • v.30 no.9
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    • pp.829-842
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    • 2003
  • In this Paper, we propose the new face detection and tracking method based on template matching for real-time applications such as, teleconference, telecommunication, front stage of surveillance system using face recognition, and video-phone applications. Since the main purpose of paper is to track a face regardless of various environments, we use template-based face tracking method. To generate robust face templates, we apply wavelet transform to the average face image and extract three types of wavelet template from transformed low-resolution average face. However template matching is generally sensitive to the change of illumination conditions, we apply Min-max normalization with histogram equalization according to the variation of intensity. Tracking method is also applied to reduce the computation time and predict precise face candidate region. Finally, facial components are also detected and from the relative distance of two eyes, we estimate the size of facial ellipse.

Development of GIS based Water Quality Simulation System for Han River and Kyeonggi Bay Area (한강과 경기만 지역 GIS 기반 통합수질모의 시스템 개발)

  • Lee, Chol-Young;Kim, Kye-Hyun
    • Journal of Korea Spatial Information System Society
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    • v.10 no.4
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    • pp.77-88
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    • 2008
  • There has been growing demands to manage the water quality of west coastal region due to the large scale urbanization along the coastal zone, the possibility of application of TMDL(Total Maximum Daily Loadings) to Han river, and the natural disaster such as oil spill incident in Taean, Chungnam. However, no system has been developed for such purposes. In this background, the demand of GIS based effective water quality management has been increased to monitor water quality environment and propose best management alternatives for Han river and Kyeonggi bay. This study mainly focused on the development of integrated water quality management system for Han river bas in and its estuary are a connected to Kyeonggi bay to support integrated water quality management and its plan. Integration was made based on GIS by spatial linking between water quality attributes and location information. A GIS DB was built to estimate the amount of generated and discharged water pollutants according to TMDL technical guide and it included input data to use two different water quality models--W ASP7 for Han river and EFDC for coastal area--to forecast water quality and to suggest BMP(Best management Practices). The results of BOD, TN, and TP from WASP7 were used as the input to run EFDC. Based on the study results, some critical areas which have relatively higher pollutant loadings were identified, and it was also identified that the locations discharging water pollutant loadings to river and seasonal factor affected water quality. And the relationship of water quality between river and its estuary area was quantitatively verified. The results showed that GIS based integrated system could be used as a tool for estimating status-quo of water quality and proposing economically effective BMPs to mitigate water pollution. Further studies need to be made for improving system's capabilities such as adding decision making function as well as cost-benefit analysis, etc. Also, the concrete methodology for water quality management using the system need to be developed.

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Determination of Types and Element on Parking Ramp (주차장 램프 형식 결정 및 제원 산정에 관한 연구)

  • Kwon, Sung-Dae;Kim, Yoon-Mi;Nam, Chang-Kyu;Ha, Tae-Jun
    • KSCE Journal of Civil and Environmental Engineering Research
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    • v.33 no.5
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    • pp.2021-2031
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    • 2013
  • Due to the rapid economic growth within the nation, the quality of life of individuals have improved dramatically. The scope of living activities of individuals have also extended, resulting in a rapidly increasing demand for automobiles. The number of vehicles registered in Korea is rapidly increasing and will reach 188.71 million as of December 2012. Compared to the registered residents of 50.94 million provided by the Ministry of Public Administration and Security, the registered population reflects about 4 people per every automobile. Due to the high demands for vehicles, the demands for parking lots in collective housing and businesses are also increasing. In reality, the current state of expansion of parking lots are underground, due to the limited available space on ground level. Specifically, the slope of a parking lot cannot exceed 17% linear slope and 14% curved slope according to the 'parking lot laws', however studies show that the driver feels at risk for safety when stopped on the parking ramp while driving in the parking lot. This study seeks to examine the suitability of parking lot ramps, concerning the safety aspects of the driver. First, the ramp type was categorized as linear or curved, then test drives were performed based on variations of slopes, slant distances, directions and points. A survey was administered to the driver after the completion of the test drive, in order to element design for an ideal ramp. In the case of curved ramp, the results of the estimate suggests a counterclockwise, slope at a maximum of 12% incline. The maximum slope for a linear ramp was analyzed to be between 13~14%, suggesting that slope greater than 15% need to be eliminated. In conclusion, it is anticipated that the element design parking ramp reported in this study will help to serve as a reference for future parking lot related guidelines, and provide cost effective traffic safety mechanisms in future parking lot businesses to follow.

Effects of Sowing Mixed Legume Forage and Applying Cattle Manure on the Productivity, Feed Values and Organic Hanwoo Feeding Capacity of Whole Crop Barley (청보리 재배 시 콩과 사료작물의 혼파와 우분의 시용이 생산성, 사료가치 및 유기한우 사육능력에 미치는 영향)

  • Jo, Ik Hwan
    • Journal of The Korean Society of Grassland and Forage Science
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    • v.34 no.4
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    • pp.254-261
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    • 2014
  • This study was to assess the effect of sowing mixed legume forage and applying cattle manure on the productivity and feed value of whole-crop barley (WCB) as a representative of winter crops and to estimate feeding capacity of Korean native cattle (Hanwoo) per unit area by defining optimal application level of cattle manure for more fertile soil and manure recycling for the purpose of reduced environmental pollution and efficient production of organic forage contributable to production of organic animal products. Sowing mixed legume forage significantly (p<0.05) increased yields of dry matter (DM), crude protein (CP) and total digestible nutrients (TDN) for WCB compared to WCB alone sowing, but there was no difference between mixed sowing treatments. The yields of DM, CP and TDN were significantly (p<0.05) highest in 100~150 kg N/hg. The CP and acid detergent fiber (ADF) contents were highest in mixed sowing with hairy vetch, followed by sowing mixed forage pea and WCB alone (p<0.05). There were no differences in CP and neutral detergent fiber (NDF) contents among cattle manure application levels. As nitrogen application level increased, ADF content increased (p<0.05), but TDN content decreased (p<0.05). Feeding capacity of organic Hanwoo (head/ha) weighing 450 kg of body weight with 400 g of daily gain significantly (p<0.05) increased due to mixed sowing with legume forage, and with increasing application levels of fermented cattle manure, feeding capacity significantly (p<0.05) increased. The results indicate that mixed-sowing of WCB and legume forage not only cut nitrogen application level of fermented cattle manure by over 50 kg per ha but also increased their feed value and productivity, and feeding capacity. This would be contributable to diversity of forage resources as well as production of organic animal product by creating low cost and high quality of forage.