• Title/Summary/Keyword: warrants

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Implied Volatility Function Approximation with Korean ELWs (Equity-Linked Warrants) via Gaussian Processes

  • Han, Gyu-Sik
    • Management Science and Financial Engineering
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    • v.20 no.1
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    • pp.21-26
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    • 2014
  • A lot of researches have been conducted to estimate the volatility smile effect shown in the option market. This paper proposes a method to approximate an implied volatility function, given noisy real market option data. To construct an implied volatility function, we use Gaussian Processes (GPs). Their output values are implied volatilities while moneyness values (the ratios of strike price to underlying asset price) and time to maturities are as their input values. To show the performances of our proposed method, we conduct experimental simulations with Korean Equity-Linked Warrant (ELW) market data as well as toy data.

Developing An Accident Prediction Model for Railroad-Highway Grade Crossings (철도건널목의 사고예측모형 개발에 관한 연구)

  • 강승규
    • Journal of Korean Society of Transportation
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    • v.13 no.2
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    • pp.43-58
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    • 1995
  • This paper discusses some of the results of investigation of railroad-highway grade crossing accidents and accident-related inventory information that was collected from the Pusan District Office of the Korean National Railroads. Established statistical techniques were applied to tabulated data to obtain an accident prediction equation that estimates the expected probability of accidents at each crossing under various grade crossing situations. It was found that the most significant factor that influences the railroad crossing accidents was flagger. The other factors were train and traffic volumes, number of tracks. crossing angle, maximum timetable train speed, algebraic grade difference, and lighting facility. No significant effects was identified with railroad crossing gates. The results of the analysis and the uses of the prediction equation for the development of warrants for safety improvements are also discussed.

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A CASE PRESENTATION OF VERRUCOUS CARCINOMA ORIGINATED FROM VERRRUCOUS LEKOPLAKIA (우췌성 백반증에서 기원한 우췌성 암종의 치험례)

  • Choi, Moon-Gi
    • Maxillofacial Plastic and Reconstructive Surgery
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    • v.28 no.4
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    • pp.339-347
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    • 2006
  • Oral leukoplakia is the most common premalignant lesion and malignant transformation has been reported from verrucal lekoplakia. Homogenous, benign leukoplakia develops into a line of squamous cell carcinoma such as verrrucous carcinoma, papillary squamous cell carcinoma and invasive squamous cell carcinoma. Early diagnosis and intervention of premalignant leukoplakia is up-most important to prevent transformation into a oral squamous cell carcinoma. Any change in surface, size and color warrants repeated biopsy. If verrucous carcinoma is evidently derived from the previous leukoplakia, wide surgical excision and periodic follow up is needed. Surgically removed lesion of leukoplakia has the tendency to recur. Follow-up is very important to patient and clinician. Although many therapies have been reported to oral leukoplakia and verrucal carcinoma, accepted treatment principle is not exist so far. But surgical removal is recommended as the treatment of choice.

Inhibitory Effect of Linolenic Acid on the Mutagens-Induced Mutagenicities in Ames Assay System and SOS Chromotest (Ames 실혐계 및 SOS Chromotest에서 Linolenic acid의 돌연변이유발 억제효과)

  • 임선영;이슥희;박건영
    • Journal of Life Science
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    • v.5 no.3
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    • pp.121-125
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    • 1995
  • To determine whether the omega 3 family, linolenic acis(LnA) is effective to inhibit carcinogens/mutagens-induced mutagenesis, we employed the Ames test using Salmonella typhimurium strain of TA100 and the SOS chromotest using Escherichia coli PQ37 strain. The inhibitory effect of LnA shown in the Ames assaying system was 95%, 78% and 73% when the mutagenicities were mediated by AFB$_{1}$, MNNG and 4-NQO, respectively. LnA shows a strong antimutagenic activity against indirect mutagen of AFB$_{1}$, whereas the same concentration of LnA exhibited weaker inhibitory effects on the direct mutagen of MNNG and 4-NQO than that of AFB$_{1}$. However. LnA reduced more than 80% of SOS responses induced by MNNG and 4-NQO when the adding concentration increased to 5%. We conclude that LnA contains in vitro antimutagenic properties and that this finding warrants further investigation both in vitro and in vivo to assess its possible chemotherapeutic potential.

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Delivering Warrants Model using Blockchain for Seamless Lawful Interception (블록체인 상의 영장 전달을 통한 연속적인 합법적 감청)

  • Lee, Jung-Been;In, Hoh Peter
    • Proceedings of the Korea Information Processing Society Conference
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    • 2017.04a
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    • pp.196-197
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    • 2017
  • 합법적 감청(LI: Lawful Interception)이란, 합법적으로 음성 통신 내용 및 데이터와 그와 관련된 일련의 정보를 수집하는 활동을 말한다. 그러나 IP 기반의 4G-LTE 네트워크와 다수의 사업자망을 이동하는 과정에서 발생되는 반복적인 법원의 영장 재발부 절차는 합법적 감청의 연속성을 저해하는 요소가 되어왔다. 이러한 문제점을 해결하기 위해 재발부 과정을 생략하고, 기존 영장 그대로 다음 국가나 네트워크 사업자에게 전달하는 방식이 제안되었지만, 보안성에 대한 문제가 여전히 존재한다. 본 연구에서는 블록체인 기반의 분산 데이터베이스 상에서 디지털 영장을 발부함으로써 영장의 재발부 과정을 거치지 않으면서도 보안성이 높고 안전하게 연속적인 합법적 감청을 수행할 수 있는 모델을 제안한다.

Structural Analysis of Overloaded Multi-aerial Platform (과하중 상태에 있는 복합 굴절차의 구조 해석)

  • So, Soo-Hyun;Kang, Sung-Soo
    • Journal of the Korean Society of Manufacturing Technology Engineers
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    • v.22 no.6
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    • pp.901-907
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    • 2013
  • The development of high-rise firefighting vehicles warrants thorough structural analysis for ensuring vehicle stability. A few structural analyses were carried out using CAD data, material properties, load conditions, and boundary conditions for evaluating the structural stability of an overloaded multi-aerial platform for firefighting and rescue. Structural analysis was performed with an analytical model consisting of a turntable, six booms, two jib booms, and a basket structure. This model was operated in eight modes. All simulation was performed using NASTRAN, a commercial code. As a result, we confirm that the position of local stress exceeds that of the yield strength. Therefore, stress concentration relaxation is possible by introducing reinforcing boom structures, changing the shape, or imparting a larger moment of inertia to the booms' cross sections.

A Simulation of Flame-Vortex Interaction considering the Alteration of Vortex by Flame (와동의 변화를 고려한 화염-와동 상호 작용 모사)

  • Kang, Ji-Hoon;Kwon, Se-Jin
    • 한국연소학회:학술대회논문집
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    • 2000.05a
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    • pp.189-196
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    • 2000
  • A numerical simulation was conducted to analyze the interaction of flame and vortices. The characteristic scales of flame and vortices were limited in the thin laminar flamelet regime. Within this regime, flame is assumed as discontinuity surface and its motion in flow field was described by G-equation instead of full governing equations. Additional approximations include distribution of line volume sources on flame surface to simulate effect of volume expansion. Contrast to previous calculations, current study employed vortex transport equation to evaluate attenuation and smearing of vortices. Two extreme conditions of frozen vortex and frozen flame were considered to validate the current method. Comparison with direct numerical simulation resulted in satisfactory quantitative agreement with higher computational efficiency which warrants the usefulness of the present model in more complex situation.

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서울시 투자기관에 대한 고객만족도 모델의 적용과 평가The Examination of Applying ACSI (American Customer Satisfaction Index) Model to Some Public Businesses Invested by Seoul Metropolitan Government

  • 이성호;김주영
    • Proceedings of the Korean Association for Survey Research Conference
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    • 2000.11a
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    • pp.7-19
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    • 2000
  • Much effort has been made to reliably measure customer satisfaction in the industry. Considering different ways of measuring and indexing satisfaction, the research on customer satisfaction warrants further development. We examined the major customer satisfaction indices along with the prior research stream of satisfaction, focusing on ACSI (American Customer Satisfaction Index). We, then, presented the empirical results of customer satisfaction model, using the data collected toward some public services provided by Seoul Metropolitan Government-owned businesses, which implied the usefulness of ACSI model. Finally, we discussed the study findings and limitations.

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Test of Fishing Activity Levels using Schaefer Model (쉐퍼모형 응용을 통한 어로활동수준 검정)

  • Lee, Kwang-Nam
    • Ocean and Polar Research
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    • v.31 no.2
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    • pp.157-165
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    • 2009
  • The study examined overuse of the fishery resource. Influence of fishing activity was estimated by application of Schaefer model's. Fishing efforts that produced the maximum sustainable yield were determined in the model, allowing the effect of overfishing to be assessed. In the model, a wide variety of fish species as well as crustaceans and shellfish were susceptible to overfishing, while mollusks were not. Overfishing by modern techniques exacted a greater toll than more traditional methods. The results of the modeling study suggest that the 'Buy bag' input-control system of fisheries resource management warrants consideration, as does modernization, expansion and strengthening of self-control management of the fishery resource. Finally, more effective efforts in dissemination of policy information and education concerning the fishery resource are needed.

The role of interleukin-17 in bone metabolism and inflammatory skeletal diseases

  • Lee, Youngkyun
    • BMB Reports
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    • v.46 no.10
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    • pp.479-483
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    • 2013
  • The balance between osteoblast-dependent bone formation and osteoclast-dependent bone resorption maintains bone homeostasis. In inflammatory conditions, this balance shifts toward bone resorption, causing osteolytic bone lesions observed in rheumatoid arthritis and periodontitis. A recently discovered family of cytokine IL-17 is widely reported to mediate diverse inflammatory processes. During the last decade, novel roles for IL-17 in skeletal homeostasis have been discovered indicating the potential importance of this cytokine in bone metabolism. This review will summarize and discuss the involvement of IL-17 during bone homeostasis in both physiologic and pathologic conditions. A better understanding of the role of IL-17 in skeletal systems warrants an advance in bone biology, as well as development of therapeutic strategies against bone-lytic diseases, such as rheumatoid arthritis and periodontitis.