• Title/Summary/Keyword: term structure

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A Study on the Definition of the Term "Tectonics" in Architecture

  • Kim, Ran Soo
    • Architectural research
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    • v.8 no.2
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    • pp.17-26
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    • 2006
  • This paper attempts to identify the term "tectonics" comprehensively by collecting and categorizing existing definitions of tectonics within the architectural area rather than to stress the concept of tectonics of each specific theorist. Although no consensus of opinion on the concept of tectonics exists, architectural tectonics was closely related to the following terms in three categories: 1. $techn\acute{e}$, technique, and technology; 2. construction and structure; and 3. stereotomics. Based on its etymology, system, and material construct, the notion of tectonics common in these three categories signifies "the art of framing construction," in which linear elements are connected with joints and clad or infilled with lightweight material. Thus, the art of framing construction, as a common concept of tectonics, reveals the following characteristics: First, tectonics is based on framing construction in contrast to piling-up construction as the etymology of tectonics signifies the art of carpentry. Then, the term tectonics, dealing as it does with a higher level of construction rather than the mechanical level of structure, incorporates the poetic aspect of techne as well as the rational aspect of technology. Third, Owing to the organic, double system of tectonic frame and incrusting or infilling materials, the tectonic body becomes both the ornament and the structure simultaneously. As the art of framing construction is based on material construction rather than structural or ornamental form, this paper proposes that one can view tectonics as a term that conveys the meaning of the actual material effect on space.

The Behavior of the Term Structure of Interest Rates with the Markov Regime Switching Models (마코프 국면전환을 고려한 이자율 기간구조 연구)

  • Rhee, Yu-Na;Park, Se-Young;Jang, Bong-Gyu;Choi, Jong-Oh
    • Journal of Korean Institute of Industrial Engineers
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    • v.36 no.3
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    • pp.203-211
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    • 2010
  • This study examines a cointegrated vector autoregressive (VAR) model where parameters are subject to switch across the regimes in the term structure of interest rates. To employ the regime switching framework, the Markov-switching vector error correction model (MS-VECM) is allowed to the regime shifts in the vector of intercept terms, the variance-covariance terms, the error correction terms, and the autoregressive coefficient parts. The corresponding approaches are illustrated using the term structure of interest rates in the US Treasury bonds over the period of 1958 to 2009. Throughout the modeling procedure, we find that the MS-VECM can form a statistically adequate representation of the term structure of interest rate in the US Treasury bonds. Moreover, the regime switching effects are analyzed in connection with the historical government monetary policy and with the recent global financial crisis. Finally, the results from the comparisons both in information criteria and in forecasting exercises with and without the regime switching lead us to conclude that the models in the presence of regime dependence are superior to the linear VECM model.

The Impact of Capital Structure on Firm's Profitability: A Case Study of the Rubber Industry in Vietnam

  • CO, Huong Thi Thanh;UONG, Trang Thi Mai;NGUYEN, Cong Van
    • The Journal of Asian Finance, Economics and Business
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    • v.8 no.7
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    • pp.469-476
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    • 2021
  • This study aims to examine and measure the impact of capital structure on the profitability of companies in emerging markets. The research sample includes eighteen rubber companies listed on the Vietnam stock exchange from 2015-2019. After collecting the research data, it was imported into excel to calculate the criteria for the research model. By using Stata 16 software, the study selected a data processing model and evaluated the relevance of the regression analysis model. The research results show that the profitability of listed rubber companies in Vietnam (measured by return on equity (ROE) has a positive relationship with the debt-to-asset ratio but has a negative relationship with the long-term debt-to-asset ratio. The results also show a positive impact of firm size and revenue growth on profitability while liquidity and the ratio of tangible fixed assets to total assets do not affect significantly. These results are consistent with most of the previously published studies. However, in contrast to many previous studies, our study shows that the long-term debt-to-assets ratio has a negative effect on profitability while the debt-to-asset ratio has a positive effect. This is entirely consistent with the characteristics of long-term debt use in emerging markets.

Long-term deflection prediction in steel-concrete composite beams

  • Lou, Tiejiong;Wu, Sishun;Karavasilis, Theodore L.;Chen, Bo
    • Steel and Composite Structures
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    • v.39 no.1
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    • pp.21-33
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    • 2021
  • This paper aims to improve the current state-of-the-art in long-term deflection prediction in steel-concrete composite beams. The efficiency of a time-dependent finite element model based on linear creep theory is verified with available experimental data. A parametric numerical study is then carried out, which focuses on the effects of concrete creep and/or shrinkage, ultimate shrinkage strain and reinforcing bars in the slab. The study shows that the long-term deformations in composite beams are dominated by concrete shrinkage and that a higher area of reinforcing bars leads to lower long-term deformations and steel stresses. The AISC model appears to overestimate the shrinkage-induced deflection. A modified ACI equation is proposed to quantify time-dependent deflections in composite beams. In particular, a modified reduction factor reflecting the influence of reinforcing bars and a coefficient reflecting the influence of ultimate shrinkage are introduced in the proposed equation. The long-term deflections predicted by this equation and the results of extensive numerical analyses are found to be in good agreement.

Leverage and Bankruptcy Risk - Evidence from Maturity Structure of Debt: An Empirical Study from Vietnam

  • NGUYEN, Thi Thanh;KIEN, Vu Duc
    • The Journal of Asian Finance, Economics and Business
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    • v.9 no.1
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    • pp.133-142
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    • 2022
  • This study examines the relationship between debt maturity structure and bankruptcy risk. There are various studies of leverage's effect on bankruptcy risk. Debt maturity, however, has not received the attention it deserves, especially in emerging markets with a high degree of information asymmetry. Using Vietnamese listed company data and various estimations, we find that leverage is positively associated with the likelihood of default. Importantly, short-term leverage shows a significantly positive effect on bankruptcy risk, while long-term leverage does not show significant results. The findings highlight that rollover risk firms are exposed to when using short-term debt increases bankruptcy risk. Meanwhile, firms do not cope with this risk in case of long-term debt adoption. High information asymmetry in emerging markets may be the main reason for the difference. The result is robust for subsamples of firms in different financial conditions, in concentrated and competitive industries, as well as for manufacturing and non-manufacturing companies. We also find that firms in a better financial situation and concentrated industries experience a higher short-term leverage effect than their counterparts. We, however, do not find a significant difference in the impact between manufacturing and non-manufacturing companies. This paper is among the first to examine the relation between debt maturity and bankruptcy risk in Vietnam.

A Study on the Menu Structure and Term of Academic Library Web Site (국내 대학도서관 웹사이트 메뉴구조와 용어 분석)

  • 최흥식
    • Journal of the Korean Society for information Management
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    • v.19 no.4
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    • pp.137-161
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    • 2002
  • The purpose of this study is to propose new menu structure and terms to be used by Website design for utilization of academic library Website. The menu structure was analyzed, based on seven menu patterns of Website which is widely used, and terms were analyzed by the frequency appearing at the Website. According to the analyzed result, the menu structure used to more than two menu patterns and the terms appear variety. The profitable menu pattern appears 〈table〉 and 〈frame + table〉 menu structures and the terms needs to systematic re-classification and controlled presentation. It is expected that this study can help a designer to the development and implementation of efficient Website. It helps not only to solve the problem of menu structure and term selection for librarian, but get rid of confusion of library services for users.

A Study on the Performance Improvement and Long-Term Strength Properties of Eco-cement Concrete (에코시멘트 콘크리트의 장기강도 특성 및 성능 향상 방안에 관한 연구)

  • Park, Kwang-Min;Lee, Gun-Cheol
    • Journal of the Korea Concrete Institute
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    • v.23 no.6
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    • pp.817-826
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    • 2011
  • Concrete using eco-cement has a problem with long-term strength development. However, currently, a long-term strength development mechanism is not confirmed, resulting in a lack of application of eco-cement in construction fields. In this study, the curing humidity influence on development in long-term strength of concrete using eco-cement and the relationship between strength and pore structure were examined. The results showed that wet cured eco-cement with a high water/cement ratio showed serious long-term strength reduction due to non-reduction of pore volume (pore size over 10 nm) in mortar caste with eco-cement. Also, the study results on improvement of long-term strength of eco-cement by partial replacement with ordinary portland cement and finely-ground fly ash showed that both of these alternatives improved long-term strength of concrete caste with eco-cement due to gradual refinement of their micro-structure.

COMMODITY FUTURES TERM STRUCTURE MODEL

  • Choi, Hyeong In;Kwon, Song-Hwa;Kim, Jun Yeol;Jung, Du-Seop
    • Bulletin of the Korean Mathematical Society
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    • v.51 no.6
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    • pp.1791-1804
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    • 2014
  • A new approach to the commodity futures term structure model is introduced. The most salient feature of this model is that, once the interest rate model is given, the commodity futures price volatility is the only quantity that completely determines the model. As a consequence this model enables one to do away with the drudgeries of having to deal with the convenience yield altogether, which has been the most thorny point so far.

Micromechanics based Models for Pore-Sructure Formation and Hydration Heat in Early-Age Concrete (초기재령 콘크리트의 세공구조 형성 및 발영특성에 관한 미시역학적 모델)

  • 조호진;박상순;송하원;변근주
    • Proceedings of the Korea Concrete Institute Conference
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    • 1999.04a
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    • pp.123-128
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    • 1999
  • Recently, as a performance based design concept is introduced, assurance of expected performances on serviceability and safety in the whole span of life is exactly requested. So, quantitative assessments about durability related properties of concrete in early-age long term are come to necessary, Especially in early age, deterioration which affects long-term durability performance can be occurred by hydration heat and shrinkage, so development of reasonable hydration heat model which can simulate early age behavior is necessary. The micor-pore structure formation property also affects shrinkage behavior in early age and carbonations and chloride ion penetration characteristic in long term, So, for the quantitative assessment on durability performance of concrete, modelings of early age concrete based on hydration process and micor-pore structure formation characteristics are important. In this paper, a micromechanics based hydration heat evolution model is adopted and a quantitative model which can simulate micro-pore structure development is also verified with experimental results. The models can be used effectively to simulate the early-age behavior of concrete composed of different mix proportions.

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Microbial Community Structure of Paddy Soil Under Long-term Fertilizer Treatment Using Phospholipid Fatty Acid (PLFA) Analysis

  • Daquiado, Aileen Rose;Kim, Tae Young;Lee, Yong Bok
    • Korean Journal of Soil Science and Fertilizer
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    • v.46 no.6
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    • pp.474-481
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    • 2013
  • Understanding the microbial community structure of agricultural soils is important for better soil management in order to improve soil quality. Phospholipid fatty acid analysis has been popularly used in determining the microbial community structure in different ecosystems. The microbial community structure of paddy soil under long-term fertilizer treatments was investigated after 45 years using PLFA analysis. Treatments were control (no fertilization, Con), compost (COM), NPK, NPK+compost (NPKC), PK, NK, and NP. Soil chemical properties were mainly affected by the addition of compost and inorganic P fertilizer. Total nitrogen and organic matter contents were significantly higher in treatments with compost while available $P_2O_5$ and exchangeable calcium were significantly higher in treatments with added inorganic P fertilizer. It was found that microbial communities were responsive to the different fertilizer treatments. PLFA results showed that the soils were dominated by gram-negative bacteria, followed by the actinomycetes, then gram-positive bacteria, and fungi. Principal component analysis of the soil chemical properties and PLFA composition proved to be a more reliable tool because it was more responsive to the changes in soil chemical properties.