파산시기 변동성을 고려한 차등예금보험료 산출모형

조성욱 예금보험공사 2008 金融安定硏究 Vol.9 No.1

The current deposit insurance system in Korea does not reflect financial risks of insured financial institutions as they pay the same fixed rate regardless of their default risk. While previous studies such as Merton (1977)’s model recognize the different risks of insured, they assume that insurance corporations can intervene only on the final date of the period. Such an unrealistic assumption results from their theoretical base of European options. Applying an analytical solution for the put back options developed in Lee and Joh(2007), this paper derives a solution for risk-based deposit insurance premiums when default can happen any time and a deposit corporation can intervene immediately. As the insured get more benefits with more discretion regarding the choice of when to call the insurance to intervene, it can pay a higher premium. Based on the solution, this study demonstrates how interest rate, volatility of assets, duration and upper limits of insurance affect the premium. 본 연구는 기존 예금보험료 모형의 단점을 보완하여 개별금융기관의 파산위험성을 반영할 뿐만 아니라 금융기관의 파산시기와 예금보험의 개입시기를 모형의 기말로 고정하지 않고 변동할 수 있는 예금보험료 모형을 도출하고자 한다. 본 연구는 이종룡·조성욱(2007)의 풋백옵션 가치산정 모형에 기초하여 금융기관의 자산가치가 예금가치보다 작을 때 금융기관의 자산을 예금보험에 주고 보장된 예금가치를 얻을 수 있는 옵션가치로부터 예금보험의 가치와 예금보험료를 도출한다. 파산시기의 변동성을 고려한 모형과 파산시기의 변동성을 허용하지 않은 경우 각각 도출한 예금보험요율이 이자율, 금융기관 자산의 변동성, 보험기간 등이 변화함에 따라 어떻게 변화하는 지를 비교 분석한다.

Effects of Institutional Investors’ Bidding Information on Offer Prices and Initial Returns of IPOs

조성욱,김유환 한국증권학회 2017 Asia-Pacific Journal of Financial Studies Vol.46 No.1

Using hand-collected data on all IPOs in Korea from 2001 to 2007 before the global financial crisis, we find that institutional investors’ favorable valuation increases the offer price and initial returns. In particular, when institutional investors’ weighted average bidding price (WAP) increases by 1%, the offer price increases by 0.81%. A higher WAP predicts higher initial returns. While oversubscription ratios yield positive effects on offer prices and predict higher initial returns, their effects are weaker when IPO market conditions or WAP are included in the regression equations. These results suggest that institutional investors’ bidding prices reflect their private valuations of firms more than their oversubscription ratios. In addition, for predicting initial returns, institutional investors’ bidding information outperforms the revised offer price.

한국 자동차 부품공업의 연계 패턴에 관한 연구 : 공업 구조적 특성을 중심으로

조성욱 서울대학교 지리교육과 1987 地理敎育論集 Vol.18 No.1

This study examines forward and backward linkage patterns in the automobile part and component industry in Korea in particular, the study analizes linkage patterns for independent single-plant firms and multi-plant corporations. Most of the automobile part and component manufacturing firms are single-plant firms (independent firms) and are concentrated in areas of Seoul, Gyeong Gi Do, Pusan city and Daegu city. The head-quarters of multi-plant corporations are clustered in the Seoul Metropolitan region, more especially in the city of Seoul. In contrast, the branch plants of these multi-plant firms are distributed largely in Gyeong Nam and Gyeong Gi Do, which are less industrialized. The firms whose head-quarters are located in Seoul have a linkage pattern on a nation-wide scale, while those firms having head-quarters in other areas have developed the linkage pattern within the region where the head-quarters is located. The decentralization of branch-plants of Seoul-based-corporations has occured as a result of governmental efforts to disperse industrial facilities outside the city of Seoul. Firms whose head-quarters are in regions other than in Seoul usually establish their regional offices in Seoul to improve information linkage, namely face-to-face contact and tele-comunication contact. In the Linkage analysis the nation is divided into three regions: the Seoul Metropolitan region, the Young-Nam region and the Ho-Nam region. Backward linkages in each region occur largely within the region, while forward linkages have interactions outside the region. Among the three regions, the Young-Nam region is the highest in the ratio of self-dependent in material supply within its own region. One of the major reasons for this high self-dependence in the Young-Nam region is that the major iron and steel industries and metal fabricated industries in the nation are located in the region. The Ho-Nam region, by contrast, has to be dependent on other regions for the supply of material because of its lack of related industries. This region is further lacking in skilled labor and in well-established information linkage because the region is located outside the major industrial axis in Korea. The result of stepwise discriminant analysis is conducted to examine the linkage patterns which occur within the region and outside the region. The result indicates that the structure of the firm is the major variable contributing to distinguish the linkage pattern within the own region and outside the region. This fact implies that structure of the firm exerts more influence on the forward linkage patterns than on the backward Linkage. A case study has been conducted to examine the decision making processes in forward-backward linkage patterns. One of the major multi-plant firms among the automobile manufactury firms was selected. This firm has its head-quarters in Seoul and its branch plants in Gyeong Gi Do(Yong-in) and Gyeong Gi Do(Si-heung). Decisions on the forward linkages are largely made by the headquarters, and decisions on the backward linkages are made by the local plant. Each separate branch plant is not directly inter-dependent at plant level, but is highly inter-related to head-quarters. A major plant shortcoming of this study is that it failed to incorporate dynamic aspects of the process in the formation of linkage patterns.

SPECT/CT 영상에서 Volumetrix Suite의 유용성

조성욱,신병호,김종필,윤석환,김태엽,성용준,문일상,우재룡,이호영,Cho, Seung-Wook,Shin, Byeong-Ho,Kim, Jong-Pil,Yoon, Seok-Hwan,Kim, Tae-Yeub,Seung, Yong-Joon,Moon, Il-Sang,Woo, Jae-Ryong,Lee, Ho-Young 대한핵의학기술학회 2010 핵의학 기술 Vol.14 No.2

SPECT/CT는 SPECT의 기능학적 영상과 CT의 해부학적인 영상의 융합(Fusion)을 통하여 기존의 SPECT에서 병소의 위치 및 범위를 감별하는데 어려웠던 문제들을 해결하여 진단적 정보에 도움을 줄수 있다. Infinia Hawkeye 4 (GE Healthcare)의 SPECT/CT 감마카메라 영상과 진단용 CT영상을 융합(Fusion)하여 3D (three Dimension)로 Rendering 할 수 있는 Volumetrix Suite의 유용성을 소개하고자 한다. 본원에 SPECT/CT 검사를 하기 위해 내원한 환자 중, 동일한 검사부위의 진단용 CT영상이 있는 환자(Bone, Venography, Parathyroid, WBC)를 대상으로 Volumetrix Suite (Volumetrix IR, Volumetrix 3D)를 적용하였다. Infinia Hawkeye 4의 SPECT영상과 CT영상을 획득한 후 두 영상을 2D (two Dimension)로 융합(Fusion)하였다. Infinia Hawkeye4 SPECT/CT에서의 CT는 해부학적 정보에 한계가 있어, 3D (three Dimension) Rendering을 하기 위해서는 정보량이 많은 진단용 CT영상을 PACS상에서 DICOM (Digital Imaging and Communications in Medicine) File로 전송하여 Infinia Hawkeye4의 Xeleris Workstation에서 IR (Image Registration)한 후 Intergrating 3D (three Dimension)로 융합(Fusion)하여 2D(two Dimension)영상을 3D (three Dimension)영상으로 Rendering하였다. Volumetrix Suite program을 이용함으로써 Infinia Hawkeye 4의 SPECT/CT 영상과 별도로 촬영한 고해상도 진단용 CT영상을 3D Rendering하여 병소의 위치 및 범위를 감별하는데 좀 더 명확한 해부학적 정보를 얻을 수 있었다. 따라서, 해부학적인 정보가 부족한 핵의학영상을 보완함으로서 더 많은 정보를 제공해 핵의학영상 검사의 진단능력을 향상시킬 수 있을 것이라고 기대된다. Purpose: The SPECT/CT is able to acquire diagnostic information resolved the difficult problems that discriminate regions of focals by intergrating functional images and anatomical images. We introduce the usefulness of "Volumetrix Suite" which can describe 3D images by the convergence of the SPECT/CT images and reference CT images. Materials and Methods: We applied Volumetrix Suite program (Volumetrix IR, Volumetrix 3D) to patients, Bone, Venography, Parathyroid, WBC, taken diagnostic CT examination which have same regions of focal in Seoul Metropolitan Government Seoul National University Boramae Medical Center. After acquiring SPECT/CT images and reference CT images, we fused a couple of scans applying for this programs. The CT scan of Infinia Hawkeye 4 shows limitation of anatomical information. For this reason, we tried to transfer CT images that have lots of diagnostic informations as the form of Dicom file in PACS, and changed from 2D images to 3D images after image registering in Xeleris Workstaion of Hawkeye 4. Results & Conclusion: By using Volumetrix Suite program, we're able to acquire more accurate anatomical informations with 3D rendering which can distinguish both location and range of focals in Infinia Hawkeye 4. Thus, the result of utilizing this program indicate that nuclear medicine anatomical images can be improved by providing more diagnostic imformations produced by its program.

Top Managers’ Academic Credentials and Firm Value

조성욱,정진영 한국증권학회 2016 Asia-Pacific Journal of Financial Studies Vol.45 No.2

This study investigates whether top management teams’ (TMTs) academic credentials from prestigious universities can be a source of competitive advantage. We examine the academic backgrounds of 72,165 top managers in 590 non-financial firms in South Korea from 1990 to 2006. We find that firms with a higher proportion of top managers from top universities have a higher Tobin’s Q. Furthermore, this relation is stronger in challenging environments when firms face higher volatility, more growth opportunities, or financial distress, or when managers have greater discretionary power or are held accountable for their decisions. These results suggest that the effects of TMTs’ human capital on firm value vary in the contexts of organizational and corporate environments. In short, our study suggests that education from elite schools is an important managerial attribute that contributes to performance.

Fluid-structure interaction analysis on the effects of vessel material properties on blood flow characteristics in stenosed arteries under axial rotation

조성욱,Seung Wook Kim,Moon Hyun Sung,노경철,유홍선,권영두 한국유변학회 2011 Korea-Australia rheology journal Vol.23 No.1

We conducted blood flow analysis, using the Fluid-Structure Interaction (FSI) method, to examine how changes in the material properties of blood vessels affect blood flow characteristics, using the carotid artery as the model vessel. The geometry of the blood vessel included 50% stenosis at the center, and blood was modeled as a non-Newtonian fluid. In order to investigate the effects of vessel material properties, linear elastic models with 0.21MPa, 0.51MPa, and 1.25MPa, which are within the typical elastic modulus range of the carotid artery, were used to simulate the blood vessel, and these were compared with the rigid body model. The difference in blood vessel elasticity caused periodic and transient changes in blood flow. The more elastic the blood vessel becomes, the longer the periods of velocity, pressure, and Wall Shear Stress (WSS) change and the smaller the size of the Fluid Recirculation Zone (FRZ). Also, transient changes in blood flow occurred due to the accumulation of differences in flow caused by vessel wall deformation. This is because a change in the stiffness of the vessel wall causes the vessel's vibration period to change, leading to changes in blood flow.

ROS 기반 다수 색상표적 검출, 군집화 및 위치계산

조성욱,정성구,이재현,신희민,심현철 제어로봇시스템학회 2017 제어로봇시스템학회 국내학술대회 논문집 Vol.2017 No.5

Numerical analysis of bubble motion under a pressure pulsing condition

조성욱,손기헌,김성일 대한기계학회 2017 JOURNAL OF MECHANICAL SCIENCE AND TECHNOLOGY Vol.31 No.12

The bubble motion in a compressible liquid under a pressure pulsing condition was studied numerically by solving the conservation equations of mass and momentum. The bubble deformation was computed by a level-set method, which was modified to include the compressibility effects of bubble and liquid. The numerical results demonstrate that the presence of a bubble can significantly amplify the wall pressure near the bubble, and the wall also considerably increases the bubble pressure. The effects of surface tension, viscosity and the magnitude of pressure pulse on the bubble motion were quantified.

(Ga,Al):ZnO 투명전극층의 스퍼터링 출력에 따른 CIGS 박막태양전지 성능 변화 연구

조성욱,전찬욱 한국공업화학회 2019 한국공업화학회 연구논문 초록집 Vol.2019 No.0

태양전지를 구성하는 투명전극은 태양광을 흡수층으로 전달하고 광생성 전자의 포집을 하는 데 중요한 역할을 한다. 본 연구에서는 250nm 두께의 GAZO (Ga,Al:ZnO) 박막을 DC 마그네트론 스퍼터링법으로 증착하였다. 스퍼터링으로 증착하는 경우 기판 표면은 이온과의 충돌로 인해 손상되므로 낮은 출력으로 증착하는 것이 표면 결함을 줄이는데 유리하다. 반면, 빠른 증착속도를 요구하는 양산에서는 높은 출력의 증착이 더 유리할 것이므로, 방전출력은 최적 조건을 갖게 된다. 스퍼터링 출력과 태양전지 성능 간의 영향을 파악하기 위하여 i-ZnO/ZnS/Cu(In,Ga)Se2/Mo/Glass 구조 위에 각각 100W, 150W, 200W, 250W, 300W의 출력으로 GAZO 250nm 증착한 소자를 제작하여 IV, CV, QE 등의 전기적 특성을 비교할 것이다.

지역지리교육 관련 용어에 대한 논의

조성욱 한국지역지리학회 2018 한국지역지리학회 학술대회발표집 Vol.2018 No.10