• Title/Summary/Keyword: fundamental variables

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Fundamental Variables, Macroeconomic Factors, Risk Characteristics and Equity Returns (기본적변수, 거시 경제요인, 기업특성적 위험과 주식수익률)

  • Kim, Sung-Pyo;Yun, Young-Sup
    • The Korean Journal of Financial Management
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    • v.16 no.2
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    • pp.179-213
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    • 1999
  • 본 연구에서는 국내 주식시장에서 주식수익률의 횡단면 차이에 유의적인 설명력을 가지는 것으로 나타난 기본적 변수가 시장지수 베타에서는 측정되지 않은 또 다른 가격화된 위험에 대해 유용한 대용변수인지를 규명하였다. 기본적 변수들 중에서 기업규모와 장부/시장가치 비율은 주식수익률의 횡단면 차이를 설명함에 있어 독립적인 효과를 갖는 가장 유의적인 변수였다. 주식수익률의 횡단면 차이에 매우 유의적인 설명력을 가지는 깃으로 나타난 거시경제요인의 요인민감도는 기업규모, 장부/시장가치 비율을 포함시 더 이상 유의적인 설명력을 가지지 못하였다. 소규모, 높은 장부/시장가치 기업은 매우 지속적인 수익성 악화를 겪고 있는 곤경기업이며, 역시 배당감소위험, 레버리지위험 및 미래 현금흐름의 불확실성으로 측정된 기업특성적 위험이 보다 큰 곤경기업이었다. 따라서 이러한 실증결과는 소규모, 높은 장부/시장가치 주식이 대규모, 낮은 장부/시장가치 주식에 비해 높은 수익률을 보이는 원인이 보다 높은 위험에 따른 보상의 결과이며, 규모변수와 장부/시장 가치 비율은 이들 위험에 대한 유용한 대용치라는 '위험에 기초한 가설'을 지지하는 증거로 주장될 수 있다. 기업규모와 장부/시장가치 비율이 시장베타로는 측정되지 않는 주식가격결정에 있어 가격화 된 또 다른 위험을 대리한다면 수익률에 나타난 SIZE, B/M효과는 합리적 가격결정하 APT나 ICAPM과 같은 확장된 CAPM과 모순되지 않는 하나의 증거로 볼 수 있으며, 비록 이들 변수들이 관찰 불가능한 진정한 시장베타에 대한 보다 나은 대용치라고 할지라도 이들 두 변수와 관련된 요인을 포함한 다요인 가격결정모델이 시장지수만을 포함한 단일요인모델에 비해 보다 유용한 모형임을 기대할 수 있다.

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A Study on Consumer Sharing Economy Service Usage Attitudes and Usage Intentions (소비자의 공유경제 서비스 이용태도 및 이용의도에 대한 연구)

  • Lee, Seung Sin
    • Human Ecology Research
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    • v.55 no.2
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    • pp.105-124
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    • 2017
  • The recent global economic crisis has resulted in increased discussion and attention on the sharing economy, a form of economic activity where individuals share currently available products. This study investigates consumer sharing economy usage attitudes and usage intentions by applying rational choice theory. For this study, an investigation that had 400 adult consumers from across Korea answer a structured questionnaire was conducted. A statistical approach using SPSS ver. 22.0 was used to analyze the data. The study found that the consumer's sharing economy value and participation levels were higher than usual. Higher than usual consumption patterns were seen for the construct of rational behavior theory. An analysis of the relative influence of variables regarding sharing economy usage intention also found that usage intention was higher for those who had experienced using a sharing economy services rather than those who did not have experience. In addition, the sharing economy usage intention also increased along with the values for subjective norms, sharing economy usage attitudes, sharing economy participation, sharing economy emotional benefits, and increased values. This study found that fundamental materials for consumer education should be made to eliminate difficulties that consumers have when they use sharing economy services. It is also expected that economic policy will develop to stimulate the sharing economy in a stable manner, that sharing economy-related information will be provided to consumers, and that consumer policies will be prepared to prevent consumer problems before they occur.

A Choice Model of Visitor's at National Park in the Case of Mt. Kyeryong (국립공원 탐방객의 등산로 선택모형 -계룡산 국립공원을 중심으로-)

  • 박청인
    • Journal of the Korean Institute of Landscape Architecture
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    • v.29 no.1
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    • pp.11-21
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    • 2001
  • This study investigates how motivations, preferences, and past experiences vary by each hikers trail choice at the Mt.Keyryong National Park. The purpose of this study is to find out the factors influencing behavioral choice in the recreation areas, and establish the fundamental theory for the efficient management of the resource and visitors. For this study, we have collected 472 respondents by on-site self-administrated questionnaire from the hikers in the park. The collected data were analyzed by the descriptive statistics and the discriminant analysis. The motivations variable of hiking participation on mountain trail were categorized three types; close-nature, escapism, and physical improvement. The preferences for trail environment were classified as four categories by factor analysis; preference for nature, safety, use density, and facilities. In descriptive statistics, the study showed that the experienced hikers prefer natural trials and hikers who have preference for close-nature select longer and deeper forest trails. The results of discriminant analysis indicate that the level of past experience is the most affectable in classification of trail choice. Such variables as motivation for close-nature and preference for nature were also appeared as affecting factors on classification of trail choice. Two discriminant functions were available, and 90.5 percent of analysis sample were correctly classified. In the validity analysis, 89 percent of holdout sample were correctly classified. These hit ratios ensures an accuracy by Press Q test. The result of this study is to be useful knowledge of the choice of detailed use environments in the same recreation areas.

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Simulation Module Development and Team Competency Evaluation (시뮬레이션 실무학습 모듈 개발 및 팀역량 평가)

  • Kim, Hae-Ran;Choi, Eun-Young;Kang, Hee-Young
    • Journal of Korean Academy of Fundamentals of Nursing
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    • v.18 no.3
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    • pp.392-400
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    • 2011
  • Purpose: This study was done to provide fundamental data to develop a simulation application working practice module and to develop a strategy that would improve team efficacy of students, as well as interpersonal understanding, and proactivity in problem solving after using the team based learning simulation. Methods: The participants were students in fourth year in C University and they participated in the simulation learning for 8 weeks from October to December 2010. The variables of team efficacy, interpersonal understanding, and proactivity in problem solving were measured and data were analyzed using SPSS WIN 17.0 program. Results: After applying the team based simulation learning, students' team efficacy, interpersonal understanding, and proactivity in problem solving improved significantly. Conclusion: The results indicate that the simulation module in this study gave the students experience in providing available and safe nursing care under conditions similar to reality and also underlined the importance of team competency for student nurses in caring for patients.

Numerical Simulation on Dynamic Characteristics of Offshore Seaweed Culture Facility (외해 해조류 양식시설의 동적특성 해석)

  • Lee, Seonmin;Hwang, Hajung;Na, Won-Bae
    • Journal of Ocean Engineering and Technology
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    • v.27 no.6
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    • pp.7-15
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    • 2013
  • Eco-friendly and sustainable seaweed biomass energy have been under the spotlight as the future of renewable energy. However, seaweed culture is primarily conducted inshore, with the research on offshore culture still in an early stage. For massive biomass production, a systematic engineering approach is required to devise offshore seaweed culture facilities rather than the conventional empirical ones. To establish the fundamental behavior of seaweed culture facilities, the dynamic characteristics of a seaweed culture facility were analyzed in the study. For this purpose, numerical analyses of the seaweed culture facility (a frame type) were carried out by using the hydrodynamic simulation program ANSYS-AQWA. For the analysis, environmental loads were considered using the wave spectra and co-linear current; mooring variables were selected as parameters; and time domain analyses were carried out to acquire the time series responses and eventually the dynamic characteristics. Finally, the mooring performance was evaluated. It was found that the motion could be controlled by adjusting the buoyancy and mooring slope.

An investigation of autoignition characteristics of kerosene by decomposed hydrogen peroxide (분해된 과산화수소를 이용한 케로신의 자연점화특성 조사)

  • Jo, Sung-Kwon;Kwon, Se-Jin
    • Proceedings of the Korean Society of Propulsion Engineers Conference
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    • 2008.11a
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    • pp.397-400
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    • 2008
  • Traditional propellants which have a hypergolic characteristic have a high performance but also have disadvantages of toxicity and complex handling requirement. In order to replace these propellants, one of the alternatives is hydrogen peroxide which generates high temperature oxygen and water vapor after catalytic reaction. In this paper, autoignition characteristics of kerosene by decomposed hydrogen peroxide were investigated to perform fundamental research for designing a thruster using hydrogen peroxide and kerosene propellants. Contraction ratio, whether flame holder exists or not, and feeding pressure of propellants were selected as variables. From the experiments for different mixture ratio, we confirmed the ignition stability is strongly affected by a feeding pressure of propellants.

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The G. D. Q. method for the harmonic dynamic analysis of rotational shell structural elements

  • Viola, Erasmo;Artioli, Edoardo
    • Structural Engineering and Mechanics
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    • v.17 no.6
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    • pp.789-817
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    • 2004
  • This paper deals with the modal analysis of rotational shell structures by means of the numerical solution technique known as the Generalized Differential Quadrature (G. D. Q.) method. The treatment is conducted within the Reissner first order shear deformation theory (F. S. D. T.) for linearly elastic isotropic shells. Starting from a non-linear formulation, the compatibility equations via Principle of Virtual Works are obtained, for the general shell structure, given the internal equilibrium equations in terms of stress resultants and couples. These equations are subsequently linearized and specialized for the rotational geometry, expanding all problem variables in a partial Fourier series, with respect to the longitudinal coordinate. The procedure leads to the fundamental system of dynamic equilibrium equations in terms of the reference surface kinematic harmonic components. Finally, a one-dimensional problem, by means of a set of five ordinary differential equations, in which the only spatial coordinate appearing is the one along meridians, is obtained. This can be conveniently solved using an appropriate G. D. Q. method in meridional direction, yielding accurate results with an extremely low computational cost and not using the so-called "delta-point" technique.

Capabilities of 1D CUF-based models to analyse metallic/composite rotors

  • Filippi, Matteo;Carrera, Erasmo
    • Advances in aircraft and spacecraft science
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    • v.3 no.1
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    • pp.1-14
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    • 2016
  • The Carrera Unified Formulation (CUF) is here extended to perform free-vibrational analyses of rotating structures. CUF is a hierarchical formulation, which enables one to obtain refined structural theories by writing the unknown displacement variables using generic functions of the cross-section coordinates (x, z). In this work, Taylor-like expansions are used. The increase of the theory order leads to three-dimensional solutions while, the classical beam models can be obtained as particular cases of the linear theory. The Finite Element technique is used to solve the weak form of the three-dimensional differential equations of motion in terms of "fundamental nuclei", whose forms do not depend on the adopted approximation. Including both gyroscopic and stiffening contributions, structures rotating about either transversal or longitudinal axis can be considered. In particular, the dynamic characteristics of thin-walled cylinders and composite blades are investigated to predict the frequency variations with the rotational speed. The results reveal that the present one-dimensional approach combines a significant accuracy with a very low computational cost compared with 2D and 3D solutions. The advantages are especially evident when deformable and composite structures are analyzed.

Research on Adolescents' Practical Awareness of Contents of Clothing and Textiles Education (청년기 의생활 교육내용의 실천의식 조사)

  • 이은희
    • Korean Journal of Human Ecology
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    • v.6 no.2
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    • pp.83-95
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    • 2003
  • The purpose of this study was to research adolescents' practical awareness about the contents(classify them into four units, choice and dressing of clothes, textile and management of clothes, design and sewing of clothes, knitting and embroidery) clothing and textiles education in their real life. This is the investigation of which 730(middle school students 246, high school students 248, university students 236) girl students located in Junrabukdo and Choongchungnam. In this statistical analysis. SPSS 10.0 for Windows Program was utilized to calculate percentage, mean and standard deviation. Also, these materials wert verified by t-test, One-way Anova. The main results of obtained this study are as follows. Adolescents' practical awareness about the contents of clothing and textiles education in their real life appears to be low(only 8 items were over median point of 3.0) There was a significant difference in practical awareness of contents of clothing and textiles education according to early$.$middle$.$latter adolescents and demographic variables differed significantly. These results should be provide fundamental information for improving students' critical practice in their real life. Since this study has touched only limited research on the topic of clothing and textiles education, it is essential that further research covering a wider array of themes be done in the future.

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Obesity from the viewpoint of metabolic rate (대사량의 측면에서 본 비만)

  • Shin, Sang-Won;Kim, Ho-Jun;Kim, Su-Jin
    • Journal of Korean Medicine for Obesity Research
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    • v.3 no.1
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    • pp.95-105
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    • 2003
  • The obesity is the matter of the energy balance in essential. The energy balance in human body is energy expenditure subtracted from energy intake. The energy intake is mainly supplied by carbohydrates, proteins and lipids in food, and the energy expenditure is composed of basal metabolic rate or resting energy expenditure, physical activity and thermogenesis including diet-induced thermogenesis. The resting energy expenditure is measured by direct calorimetry and indirect calorimetry. Generally we can simply use predictive equation with the variables of weight, height, age and fat-free mass to yield metabolic rate. But there is discrepancy between the estimate and real metabolic rate because the equations can not reflect individuality and environments. The resting energy expenditure is influenced by many factors but the fundamental factor is fat-free mass. We briefly reviewed the concept and evaluation of the energy balance, intake and expenditure, which are important parts in the study of obesity. Finally, we surveyed the correlation between metabolic rate and obesity and suggested applicable herb medication to increase metabolic rate.

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