효율적 프론티어 수준에 따른 감정평가법인의 경쟁력 비교 분석

신연수(Yeon-Soo Shin) 한국무역연구원 2018 무역연구 Vol.14 No.5

Context-Dependent DEA is a methodology for recognizing the efficient frontier of DUMs (Decision Making Units). Context-dependent DEA refers to a DEA approach where a set of DMUs are evaluated against a particular evaluation context. Each evaluation context represents an efficient frontier orgainzed by DMUs in a particular performance level. The context-dependent DEA measures the attractiveness when DMUs place on exhibition of poorer performance and the progress when DMUs place on of exhibition better performance as the evaluation group. This research applied the context dependent model to make the competitiveness of 12 appraisal firms on the continuous line of the existing Shin Yeon-Soo (2018) research. During each year it is important to know how the 12 appraisal firms will be classified according to the efficiency frontier and where each should belong. Efficient frontier categories are divided into five in 2010, four in 2011, five in 2012, five in 2013, three in 2014, seven in 2015 and four in 2016. Korea (DMU 12) received the highest score, Daehwa (DMU 8) and Hana (DMU 11) were more than 600. Next, Pacific (DMU 10), Joongang (DMU 4) and Samchang (DMU 7) were more than 450, Thefirst (DMU 2), Nara (DMU 1) and Miraesaehan (DMU 6) were more than 400. Finally Kyungil (DMU 5) and Daeil (DMU 3) were more than 300 while Gaon (DMU 9) has the lowest score.

주식분할의 장기성과 측정 모델에 대한 연구

신연수,Shin, Yeon-Soo 한국정보기술전략혁신학회 2006 情報學硏究 Vol.9 No.3

The event study analyzes returns around event date at a time. Event study provides estimation periods and cumulative returns. Stock split announcements are generally associated with positive abnormal returns. It is important to investigate the responses of stocks to new information contained in the announcements of stock splits. So It is important to study the long term performance in the case of Stock Split. This Study forced to two approach method in evaluating the performance, the event time portfolio approach and calendar time portfolio approach. The event time portfolio approach exists the CAR model, BHAR model and WR model. And the calendar time portfolio approach has the 3 factor model, 4 factor model, CTAR model, and RATS model.

주식매수선택권이 기업성과에 미친 영향에 대한 연구

신연수,Shin, Yeon-Soo 한국정보기술전략혁신학회 2006 情報學硏究 Vol.9 No.4

This study is to test the influence of stock option granting information on the firm's performance. The important issue in stock option is that agent cost is the important determinant factor for the long term performance. The agent cost arises between the manager and shareholders. So many study are concentrated in diminishing the agent cost, and develop some substitute tools to measure the agent cost. The event study about stock option analyzes returns around event date at a time. Event study provides estimation periods and cumulative returns. Announcements about stock option are generally associated with positive abnormal returns in short term period, but not showing positive effect in long term period. It is important to investigate the responses of stocks to new information contained in the announcements of stock option. Therefore it is important to study the long term performance in the case of stock option. The event time portfolio approach exists the CAR model, BHAR model and WR model. And the calendar time portfolio approach has the 3 factor model, 4 factor model, CTAR model, and RATS model. This study is forced to develop and arrange two approach method in evaluating the performance, the event time portfolio approach and calendar time portfolio approach.

KTB212선물에서 시중은행의 투자성과에 대한 실증분석

신연수,Shin, Yeon-Soo 한국정보기술전략혁신학회 2005 情報學硏究 Vol.8 No.4

In this paper I examined trades of general bank In KTB212 Futures for patterns which are best described by the behavioral finance literature. I reported the statistics for traders of profit or loss traders, number of traders, total trader gross trading income, revenue per contract. Thess results are acquired from the revenue scale and the trade contract scale. When traders are ranked on the basis of performance, successful winning traders are short positions in the KTB212. This result appears more faithful to large scale traders. The evidence suggests that large traders are able to act on the information flow. The measure of success is as total income, and the relationship between position holding and success is clear.

DEA모형을 이용한 수출주도형 철강회사의 경영효율성 분석

신연수(Yeon-Soo Shin) 한국무역연구원 2012 무역연구 Vol.8 No.3

This study is to analyze the efficiency of Korean export-oriented steel companies in 2008. The steel industry as the nation’s infrastructure plays big part in main areas which are plants, shipbuilding, car industry etc. in the Korean entire economy. After financial crisis, it has been important to figure them all out. The CCR and BCC, Super TE model are used by methodology of efficiency measure. DEA(data envelopment analysis) model with four inputs and two outputs were specified and used to estimate steel industry efficiency. Steel industry was operated with technical efficiency of average 89.4%. This indicates that almost 10.6% costs can be reduced without decreasing output if the steel industry can operate efficiently. This study has 26 companies as decision making units(DMU), thus using non-parametric pearson correlation method. The correlation between input factors and output factors appears to be significantly higher, therefore the DEA model can apply to all variables. Fourteen of twenty six companies get to 100 percent in BCC efficiency, and seven of them have at 100 percent in CCR efficiency. The number of IRS in the return to scale is twelve companies which account for 50 percent of total number of DMU in this study. This is dut to the scale inefficiency of the investment shortfall from economic slump. The statement previously is consistent with the facts that the pure technical inefficiency is 4.88 percent, and the scale inefficiency is 5.93 percent. The Super TE analysis is needed to classify efficiency of seven companies which are same efficiency in technical efficiency. Dongkuk steel is ranked firstly, and SIMPACANC, Dongil industry, Glopost, Daehansteel, POSCO, SEAH Besteel are in sequence.

Relux를 이용한 강의실 조명설계

신연수(Yeon-Soo Shin),어익수(Ik-Soo Eo) 대한전기학회 2009 대한전기학회 학술대회 논문집 Vol.2009 No.7

본 논문은 강의실 조명설계로 2/40W FL×9와 2/25W LED FL×12를 Relux 2007를 이용하여 모델링을 통한 시뮬레이션을 측정 하였으며, 두 램프를 비교 분석하여 가장 이상적인 조명기구 및 조도 값을 알아본다. 이 시뮬레이션 결과 2/40W FL×9의 경우가 2/25W LED FL×12를 사용했을 때 보다 조도와 균제도가 높게 측정되었고, 소비전력은 2/25W LED FL×12 매입했을 때가 낮게 나왔다. 금후 LED 형광등 조명설계에 있어서 도움을 줄 수 있을 것으로 기대된다.

시장미시구조에서의 유동성 분석

신연수(Shin Yeon Soo),서충원(Sheo Chung Won) 글로벌경영학회 2009 글로벌경영학회지 Vol.6 No.1

본 연구에서는 시장요인들 중에서 유상증자 이후 거래량, 가격, 주문불균형, 공시시점을 중심으로 시간대별 더미 변수들이 시장 유동성에 어떤 영향을 주고 있는지 살펴보았다. 유상증자 공시시간대 (event time)를 중심으로 -10시간대부터 10시간대까지를 최종 분석자료로 추출하여 주문.거래변수를 이용하여 회귀분석을 실시하였다. 거래량, 가격, 주문불균형 변수가 호가스프레드 및 시장깊이에 어떤 영향을 주는지를 시간대별 더미변수를 통제하여 분석하였다. 상관관계분석결과 호가스프레드가 시장깊이, 거래량, 가격, 주문불균형 각각의 변수와 유의적인 음(-), 시장깊이가 거래량, 주문불균형의 변수와는 유의적인 양(+), 시장깊이와 가격은 유의적인 음(-), 거래량과 가격은 유의적인 음(-), 거래량과 주문불균형은 유의적인 양(+)의 상관관계를 보여주었다. 회귀분석결과 유상증자 공시시간대에서 호가스프레드가 크게 증가하였고, 공시 이후 +4시간대까지는 안정적으로 하락하고 있다. 그리고 거래량 증가 및 가격과 주문불균형도 호가스프레드에 유의적인음(-)을 영향을 주고 있었다. 거래량이 많을수록 호가스프레드는 줄어들면서 최우선호가에 대한 주문량이 증가하였고, 높은 가격대의 주식이 낮은 가격대의 주식에 비해 최우선호가에서의 주문량이 더 많음을 보여준다. 그리고 유상증자시에는 거래의 유동성을 제고시키나 일시적인 주문불균형이 발생하였다. 전반적으로 유상증자 공시는 시장을 불안정하지는 않았다. 즉 호가스프레드는 상승하고 시장깊이는 감소하였으며, 변동성의 약간의 증가는 있었으나 그 이후에는 그 충격은 사라지고 있다. 그리고 단기간에서는 수익률 및 투자자들의 매도 및 매수주문에 대한 패턴에는 어떤 큰 변화는 일어나지 않았음을 보여준다. This study examined how to affect volume, price, order imbalance, each time dummy variables on the market liquidity. It used the bid-ask spread, and the market depth as the measure of market liquidity. The results are as follows. The correlations of market depth, volume, price, order imbalance with bid-ask spread are individually significant negative. At the time of SEO, the increase of volume had caused the shorter bid-ask spread, meaning that offering the market liquidity. And there appeared that a little symptom of the increase of bidask spread and volatility, the decrease of market depth. The overall conclusion remains that the seasoned equity offering(or SEO) didn t make the market unstable situation. These states disappeared before long. Here seasoned equity offering is an equity issue by a company after its IPO

국채선물시장에서의 기관투자자들의 투자행태에 관한 실증분석

신연수 ( Yeon Soo Shin ) 한국창업정보학회 2007 창업정보학회지 Vol.10 No.2

입력전류와 커패시터 전압의 맥동저감을 위한 개선된 LCCT Z-소스 DC-AC 인버터

신연수(Yeon-Soo Shin),정영국(Young-Gook Jung),임영철(Young-Cheol Lim) 대한전기학회 2012 전기학회논문지 Vol.61 No.10

In this study, an improved LCCT(Inductor-Capacitor-Capacitor-Trans) Z-source inverter(Improved LCCT ZSI) with characteristics of Quasi Z-source inverter(QZSI) and LCCT Z-source inverter(LCCT ZSI) is proposed. The proposed inverter can also reduce the voltage stress and input current/capacitor voltage ripples compared with conventional LCCT ZSI and Quasi ZSI. A two winding trans in Z-impedance network of the conventional LCCT ZSI is replaced by a three winding trans in the proposed inverter. To verify the validity of the proposed inverter, a DSP controlled hardware was made and PSIM simulation was executed for each method. Comparing the current and voltage ripples of each method under the condition of input DC voltage 70[V] and output AC voltage 76[Vrms], the input current and capacitor voltage ripple factors of the proposed inverter were low as 11[%] and 1.4[%] respectively. And, for generation of the same output AC voltage of each method, voltage stress of the proposed inverter was low as 175[V] under the condition of duty ratio D=0.15. As mentioned above, we could know that the proposed inverter have the characteristics of low voltage stress, low ripple factor and low operation duty ratio compared with the conventional methods. Finally, the efficiency according to load change/duty ratio and the transient state characteristics were discussed.

개선된 LCCT Z-소스 6-스위치 인버터

신연수(Yeon-Soo Shin),정영국(Young-Gook Jung),임영철(Young-Cheol Lim),홍승표(Seung-Pyo Hong) 대한전기학회 2011 대한전기학회 학술대회 논문집 Vol.2011 No.10-2