• Transactions of the Korean Society of Mechanical Engineers B
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• v.28 no.10
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• pp.1238-1246
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• 2004

Momentum exchange theory has been generally used for an analysis of the regenerative turbomachines due to its direct description of the complicate circulatory flow. However, because its application is limited only to linear region and its model equations are incomplete on three variables, it needs further refinements. In the present study it is improved by introducing a central pivot of circulatory flow. Also, by assuming linear circulatory velocity distribution, mean radii of inlet and outlet flows through the impeller are newly suggested. By applying control volume analysis to both linear region and the acceleration region, the governing equation on the circulatory velocity is derived. As a result, systematic performance analysis on the entire region of the incompressible regenerative turbomachines can be carried out based on the proposed model equations.

• International Journal of Aeronautical and Space Sciences
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• v.7 no.2
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• pp.14-25
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• 2006

This paper is focused on designing an implementable control law to perform spacecraft various missions using momentum exchange devices such as reaction wheels(RWs) and control moment gyros(CMGs). A compact equation of motion of a spacecraft installed with various momentum exchange devices is derived in this paper. A hybrid control law is proposed for precision attitude control of agile spacecraft. The control law proposed in this paper allocates control torque to the CMGs and the RWs adequately to satisfy the precision attitude control and large angle maneuver simultaneously. The saturation problem of reaction wheels and the singularity problem of control moment gyros are considered. The problems are successfully resolved by using the proposed hybrid closed loop control law. Finally, the proposed hybrid control law is demonstrated by numerical simulations.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.3
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• pp.361-372
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• 2021

This research aimed to analyze the momentum strategy of foreign investors with the smallest trading transactions in the Indonesian stock market. This study applied a quantitative method approach using intraday transaction data of companies listed on the LQ-45 Index for March, April, and May 2017, obtained from the Indonesia Capital Market Institute (TICMI) which is a subsidiary of the Indonesia Stock Exchange (IDX). The number of companies with available data is 35 companies, consisting of 23 non-government stocks and 12 government stocks. The number of observations from the 35 companies was 8,686,030 observations where the government companies recorded 2,751, 545 and the non-government companies 1,387,016 observations. All data was then squeezed and grouped into small, medium, and large trade transaction orders. The data analysis method used was paired t-test with SPSS to analyze cumulative abnormal returns in the formulation and test periods. This study found that small foreign investors carried out momentum strategies on stocks listed on the LQ-45 Index. However, re-testing was done by separating government and non-government shares. It turned out that small foreign investors performed a momentum strategy on non-government and a contrarian strategy on government.

• Transactions of the Korean Society of Mechanical Engineers B
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• v.40 no.6
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• pp.347-355
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• 2016

This study presents a Lattice Boltzmann Method (LBM) coupled with a momentum-exchange approach/fictitious domain (MEA/FD) method for the simulation of particle suspensions. The method combines the advantages of the LB and the FD methods by using two unrelated meshes, namely, a Eulerian mesh for the flow domain and a Lagrangian mesh for the solid domain. The rigid body conditions are enforced by the momentum-exchange scheme in which the desired value of velocity is imposed directly in the particle inner domain by introducing a pseudo body force to satisfy the constraint of rigid body motion, which is the key idea of a fictitious domain (FD) method. The LB-MEA/FD method has been validated by simulating two different cases, and the results have been compared with those through other methods. The numerical evidence illustrated the capability and robustness of the present method for simulating particle suspensions.

• Nuclear Engineering and Technology
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• v.37 no.6
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• pp.595-604
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• 2005

A new instrument, an average BDFT (Birectional Flow Tube), was proposed to measure the flow rate in single and two phase flows. Its working principle is similar to that of the Pilot tube, wherein the dynamic pressure is measured. In an average BDFT, the pressure measured at the front of the flow tube is equal to the total pressure, while that measured at the rear tube is slightly less than the static pressure of the flow field due to the suction effect downstream. The proposed instrument was tested in air/water vertical and horizontal test sections with an inner diameter of 0.08m. The tests were performed primarily in single phase water and air flow conditions to obtain the amplification factor(k) of the flow tube in the vertical and horizontal test sections. Tests were also performed in air/water vertical two phase flow conditions in which the flow regimes were bubbly, slug, and churn turbulent flows. In order to calculate the phasic mass flow rates from the measured differential pressure, the Chexal drift-flux correlation and a momentum exchange factor between the two phases were introduced. The test results show that the proposed instrument with a combination of the measured void fraction, Chexal drift-flux correlation, and Bosio & Malnes' momentum exchange model could predict the phasic mass flow rates within a $15\%$ error. A new momentum exchange model was also proposed from the present data and its implementation provides a $5\%$ improvement to the measured mass flow rate when compared to that with the Bosio & Malnes' model.

• 한국전산유체공학회:학술대회논문집
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• 2008.03b
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• pp.341-344
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• 2008

The complicated helical flow formed in the regenerative turbomachines is usually decomposed into a peripheral component and a circulatory component. On the basis of the momentum exchange theory, the circulatory flow plays a critical role of imparting angular momentum to the peripheral flow. Therefore, the accuracy of performance prediction is dominated by the circulatory flow modeling. Until now the circulatory flow has been accounted of a standstill flow normal to the peripheral flow. However, the circulatory path from the impeller exit to the re-entrance inlet is exposed to the adverse pressure gradient, so it would be more realistic to describe that the circulatory flow is formed on the skewed plane not perpendicular to the peripheral flow. Present study suggests new circulatory flow loss model including the effect of adverse pressure gradient and modifies the effective circulatory flow rate and circulatory pivot which were previously published.

• Transactions of the Korean Society of Mechanical Engineers B
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• v.28 no.10
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• pp.1247-1254
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• 2004

In momentum exchange theory the loss models for the circulatory flow is critically important. But because of lack of loss model on the circulatory flow, analysis model on regenerative turbomachines is not available in the open literature. In the present study circulatory loss is evaluated by combining bend's losses. Through the comparison with the previous experimental data on linear pressure gradient, a combination factor is suggested in terms of the aspect ratio of a channel. Applying this factor to two kinds of regenerative blowers the predicted results are found to be in good agreement with the experimental data of the overall performance and the head distribution along the rotational direction. Especially, the comparison with the head distribution demonstrates the accuracy of hydraulic model and loss model suggested in the present study. And the comparison with the overall performance confirms the validness of physical models as well as loss models suggested in the present study.

• Journal of the Korean Data Analysis Society
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• v.20 no.6
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• pp.3025-3035
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• 2018

This study investigates the momentum phenomena of stocks listed on the taiwan stock exchange. The purpose of this study is to examine the differences in momentum phenomena among firm size, foreign investor ownership, individual investor ownership, and institutional investor ownership. The empirical results of the momentum phenomenon in the Taiwanese stock market are as follows. First, there is no momentum phenomenon during the whole sample period. Second, momentum profitability does not exist even if this study divides by firm size. However, the results are different if this study divides it by the investor ownership. Third, there is a significant positive momentum for firms with high individual ownership. Fourth, on the contrary, positive momentum was observed in firms with low institutional ownership. Finally, there was no momentum phenomenon when dividing by foreign ownership. This study has academic contribution in analyzing the momentum phenomenon in Taiwanese stock market considering the investor's ownership.

• Management & Information Systems Review
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• v.30 no.4
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• pp.147-173
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• 2011

It is generally accepted that there are momentum effects in the short term and reversal effects in the long term, which makes abnormal excess returns in the major stock markets in the world. In Korea stock market, however, the previous studies demonstrate that contrarian strategies based on reversal effects are more effective than momentum strategies following momentum effects in the short term as well as in the long term. This paper examines wether contrarian strategies are still effective In Korea stock market from 1980 to 2009, and the short term reversals may be changed after the foreign exchange crisis in 1997-1998. Moreover, this paper investigates how contrarian profits are shown considering the state of market. In my research, unlike previous studies, I find that both of contrarian strategies using price change and price level cannot gain excess risk adjusted returns in Korea stock market from 1980 to 2009, but this result is due to the fact that reversal effects existed before the foreign exchange crisis but momentum effects does after the foreign exchange crisis in 1997-1998. Specially, after the foreign exchange crisis, it is confirmed momentum strategies using 52 week high price, that is, price level are more effective than momentum strategies using price change. And following the strategies using 52 week high price after the foreign exchange crisis, the momentum is not only observed in the up market but also in the down market, which is different with the results of the studies regarding to American market, where the momentum is just found in the up market.

• Korean Management Science Review
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• v.30 no.3
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• pp.1-16
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• 2013

In this paper, we deal with an enhanced index fund strategy by implementing the exchange trade funds (ETFs) within the context of the Black-Litterman approach. The KOSPI200 index ETF is used to build risk-controlled portfolio that tracks the benchmark index, while the proposed Black-Litterman model mitigates estimation errors in incorporating both active investment views and equilibrium views. First, we construct a Black-Litterman model portfolio with the active market perspective based on the momentum strategy. Then, we update the portfolio with the KOSPI200 index ETF by using the equilibrium return ratio and weighted averages, while devising optimization modeling for improving the information ratio (IR) of the portfolio. Finally, we demonstrate the empirical viability of the proposed enhanced index strategies with KOSPI 200 data.