• KDI Journal of Economic Policy
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• 제40권3호
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• pp.69-89
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• 2018

We study whether a default option attached to non-recourse mortgages improves borrowers' surplus from mortgage financing. By defaulting on mortgage debt, borrowers can save their non-collateralized income from being foreclosed. In exchange, borrowers must forgo non-monetary surplus from retaining any collateral. Banks may charge a high mortgage rate due to increased default rates. We find that the interest rate of non-recourse mortgage decreases with the borrower's surplus from home ownership. Moreover, non-recourse mortgages benefit only borrowers who deem housing property as an investment asset. Hence, the transition to a non-recourse mortgage is detrimental to welfare if the borrower enjoys a large surplus from home ownership. Although the borrower privately knows how much surplus she enjoys from home ownership, a menu of non-recourse mortgage contracts may exist, yielding a separating equilibrium without information rent.

• 산업공학
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• 제13권4호
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• pp.572-583
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• 2000

In this research we have developed a prototype which manages a product structure and configuration of a product under distributed heterogeneous computing environments. First, the data schema for product structure and configuration which can represent options and effectivity is proposed. Second, a technique to use JAVA and CORBA is suggested for the exchange of product structure among multiple servers in CITIS environments. Functions of the prototype related to option-based product structure are described to help readers' understanding.

• 한국산학기술학회논문지
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• 제1권2호
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• pp.85-92
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• 2000

Warrant란 소유자에게 일반회사채의 권리에 일정한 기간내에 일정한 가격으로 정해진 수의 발행회사 주식을 매입할 수 있는 권리인 신주인수권을 함께 부여한 사채로서 금융파생상품의 하나이다. Warrant는 콜옵션과 동일한 성격을 가지면서도 투자자가 아니라 기업에 의해서 발행된다는 점이 콜옵션과 상이하다. 이러한 warrant의 특징은 특히 배당(dividend)을 지급하는 경우 블랙ㆍ숄즈 옵션가격 모형으로 평가하는데 문제가 있다. 또한 신주인수권의 행사는 발행주식의 수를 증가 시킴으로써 기업의 자산과 이익이 희석화(dilution) 된다. 본 연구는 OPM 대신에, 다변량 분석기법중의 하나인 다중회귀분석을 통하여 warrant가격에 영향을 미치는 주요 변수를 분석함으로써 warrant 가격결정 문제를 해결하고자 한다. 이를 위하여 1995년과 1996년의 일본동경주식시장의 300여개 warrant 자료를 토대로 실증분석 함으로써 warrant 가격결정 주요변수와 warrant 가격 예측 모형을 검토하였다.

• 한국통신학회논문지
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• 제29권2B호
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• pp.250-262
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• 2004

IPv6 환경에서는 인터넷 전화, 주문형 비디오 및 다자간의 대용량 파일 교환 서비스 등이 더욱 증가될 것이므로 단-대-단(End-to-End)기반의 엄격한 품질 보장 및 상대적으로 사용을 억제할 수 있는 차등화된 품질 제어 방안이 동시에 요구된다. 본 논문은 IPv6망에서 트래픽을 플로우 단위로 식별하고 IPv6 홉-바이-홉 옵션 헤더 내의 QoS 정보를 이용하여 멀티서비스의 QoS 개선을 위한 플로우 기반의 제어 방안을 제시한다. 플로우 제어 대상은 플로우 레이블 값을 이용하는 Non-default QoS 트래픽 뿐만 아니라 최선형 및 암호화 트래픽으로 확대 적용한다. 이를 통해 실시간 서비스에 대한 보장성은 강화하고 불필요하게 망 자원을 남용하는 플로우는 효과적으로 제어한다. 또한, 기존 망 자원의 최소 변경과 통신사업자의 백본망 현황을 반영하여 플로우와 MPLS간 매핑 방안을 제시한다. 시뮬레이션 결과에서는 제안하는 플로우 품질 제어 방안이 실시간 서비스에 대한 QoS 제공 및 백본 자원의 활용 측면에서 효율적임을 확인한다.

• Archives of Plastic Surgery
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• 제51권1호
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• pp.52-61
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• 2024

Background Although prepectoral implant-based breast reconstruction has recently gained popularity, dual-plane reconstruction is still a better option for patients with poor-quality mastectomy skin flaps. However, shoulder morbidity is aggravated by subpectoral reconstruction, especially in irradiated patients. This study aimed to demonstrate shoulder exercise improvement in subpectoral reconstruction by delayed prepectoral conversion with an acellular dermal matrix (ADM) inlay graft technique at the time of expander-to-implant exchange after irradiation. Methods Patients with breast cancer treated for expander-to-implant exchange after subpectoral expander insertion and subsequent radiotherapy between January 2021 and June 2022 were enrolled. An ADM inlay graft was inserted between the pectoralis major muscle and the previously inserted ADM. The ADM was sutured partially overlapping the pectoralis muscle from the medial side with the transition part, to the muscle border at the lateral side. Perioperative shoulder joint active range-of-motion (ROM) for forward flexion, abduction, and external rotation was also evaluated. Results A total of 35 patients were enrolled in the study. Active shoulder ROM significantly improved from 163 degrees preoperatively to 176 degrees postoperatively in forward flexion, 153 to 175 degrees in abduction, and 69 to 84 degrees in external rotation. There was no difference in patient satisfaction regarding the final outcome between the conventional prepectoral reconstruction group and the study group. Conclusion Shoulder exercises in irradiated patients who underwent subpectoral reconstruction were improved by delayed prepectoral conversion using an ADM inlay graft. It is recommended that subpectoral reconstruction not be ruled out due to concerns regarding muscle contracture and shoulder morbidity in radiation-planned patients with poor mastectomy skin flaps.

• 한국의류학회지
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• 제23권4호
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• pp.529-540
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• 1999

The purpose of this study is examine how price attitude and risk perception affect6 consumer's attitude to clothing discount stores. As for the methods of the research 313 female consumers who just finished shopping at discount stores were interviewed and questioned. The result is as the following. 1. The factors such as discount price inclination effective value inclination price-quality association and price-social grade association in the price attitude as well as social psychological risk and the risk of losing opportunity in the risk perception affected consumer's attitude to clothing discount store. 2. The domestic national brand discount store acquired the highest scores in all factors but discount inclination factor and low price inclination factor. No difference was seen between stores in terms of the risk perception. 3. The determining factors for repurchase intention were found to be store satisfaction and the attitude to clothing discount store. 4. The convenience of transportation the availability of exchange or repair the payment option the quality of the product and the attributes of the store e, g, good quality with relatively low price affected the store satisfaction. 5. Domestic national brand discount store showed higher score in 'good quality with relatively low price' than domestic casual brand discount store did. And difference between groups was found in repurchase intention, Conclusively most consumers using clothing discount stores are effective value-oriented.

• 무역상무연구
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• 제55권
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• pp.185-208
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• 2012

Before and after the Capital Market Integration Act in 2007 is implemented in South Korea, many of small-and mid sized exporting companies in South Korea has been bankrupted or filed for lawsuit claiming mis-selling(KIKO) by the banks. The basic economic structure of KIKO in Korea are part of a business model based on the use or misuse of exotic derivatives whose results are anything but imaginary. 571 mid sized exporting companies have been damaged about $28 billion. KIKO is a currency option product that sells foreign currencies at higher foreign exchange rate when the rate moves within a certain range, but sells foreign currencies at two or three times lower rate than the market price when the rate exceeds the designated upper limit. KIKO, Therefore, is hard to know whether the non financial firms intended to hedge against further strengthening of their currency or merely to speculate. It is also hard to know how thoroughly they understood the risk-return profile of these transactions. It is similarly hard to ascertain whether the derivatives dealers offering these transactions were meeting the demands of their clients or taking advantage of them. These exotic derivatives were inappropriate for either hedging or speculating, and no knowledgeable investor would be likely to enter into these contracts intentionally.

• 통상정보연구
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• 제7권4호
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• pp.219-243
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• 2005

The Purpose of this Article is to analyze the examination criteria on the compliance of multimodal transport document in the ISBP. When the goods are taken in charge by the multimodal transport operator, he shall issue a multimodal transport document which, at the option of the consignor, shall be in either negotiable or non-negotiable form. The multimodal transport document shall be signed by the multimodal transport operator or by a person having authority from him. When the multimodal transport document is presented by the beneficiary to the bank in the letter of credit operations, the bank should examinate the bill of exchange and/or shipping documents, including multimodal transport document. There are two rules in connection with examination of the documents in the letter of credit operations. One is the "Uniform Customs and Practice for Documentary Credits(UCP 500)" approved by the Banking Commission in March 10, 1993, the other is the "International Standard Banking Practice for the Examination of Documents under Documentary Letters of Credits(ISBP)" approved by the ICC Banking Commission in October 2002. Therefore, this Article has studied the multimodal transport document presented under documentary credits on the basis of the UCP 500 and the ISBP it reflects.

• 한국초전도ㆍ저온공학회논문지
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• 제15권1호
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• pp.40-44
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• 2013

The contactless power transfer (CPT) systems have been recently gaining popularity widely since it is an available option to realize the power delivery and storage with connector-free devices across a large air gap. Especially, the CPT with electromagnetic resonance coupling method is possible to exchange energy within 2 m efficiently. However, the power transfer efficiency of CPT in commercialized products has been limited because the impedance matching of coupled coils is sensitive. As a reasonable approach, we combined the CPT system with HTS wire technology and called as, superconducting contactless power transfer (SUCPT) system. Since the superconducting coils have an enough current density, the superconducting antenna and receiver coils at CPT system have a merit to deliver and receive a mass amount of electric energy. In this paper, we present the feasibility of the SUCPT system and examine the transmission properties of SUCPT phenomenon between room temperature and very low temperature at 77 K as long as the receiver is within 1.0 m distance.

• 한국정보처리학회논문지
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• 제1권3호
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• pp.357-366
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• 1994

IEEE 802.4 토큰버스 방식이 산업용 네트워크에 있어서 표준으로 넓게 받아들여지 고 있다. 802.4에서는 정보의 교환을 제어하기 위해 일종의 타이머를 사용하여 트래 픽의 다중 클래스를 지원한다. 실시간 처리를 위한 802.4 기능의 시간 할당방법은 실제 생산 공정에서 요구되는 실시간 제어응용에서 최악의 상태 억세스 요구를 만족하 도록 타이머들이 설정되어야 한다. 물론 시간에 제약을 받지 않은 다른 응용들도 동시 에 지원될 수 있다. 본 논문에서는 실시간 처리를 위하여 토큰 버스 네트워크 운영시 타이머 할당 구조에 따른 최소한의 대역폭 할당을 위하여 알고리즘을 제안하고 해석 적 방법과 이의 시뮬레이션을 수행하여 타이머 할당과 유용도 산출에 대한 성능을 해 석하였다.