불완전 자본시장에서 기업 장단기부채의 역할

윤석헌,박래수 한국금융학회 2002 金融學會誌 Vol.7 No.2

이 논문은 자본시장에서 기업이 발행하는 장단기채 각각이 기업가치 제고에 기여하는 바를 논의한다. 우선 기본모형에서는 미래 성장기회를 지니되 부채만으로 조달하는 기업을 대상으로 선순위단기채와 후순위장기채간 최적비율이 미래 성장기회 투자를 효율적으로 유도한다는 박래수·윤석헌(2001)의 결과를 재확인한다. 그리고 이를 토대로 장기채의 신호전달 가능성과 기업파산 시 단기채권자의 시장규율 역할을 논의한다. 우선 성장기회 수익성이 기업의 사적정보인 경우, 기업은 후순위장기채 비율을 신호전달수단으로 사용할 수 있다. 단기채는 부채잔류효과를 통해 주주들의 성장기회의 과소투자를 초래하고, 후순위장기채는 비용전가효과를 통해 과다투자를 초래하는 성향을 지닌다. 여기서 후순위장기채 비율의 신호전달 가능성은 성장기회 수익성이 높은 우량기업일수록 동 비율 증대로 인한 성장기회의 한계적 과다투자비용이 상대적으로 저렴하여 불량기업의 모방행위를 효과적으로 예방할 수 있기 때문에 발생한다. 다음 부채사용 기업이 파산하면 채권자가 기업의 자산과 부채를 포괄승계하게 되는데, 이런 상황에서 단기채권자와 장기채권자 중 누가 성장기회의 승계투자를 보다 효율적으로 처리할 것인가를 분석한다. 결과는 파산기업의 성장기회 투자가 사전적으로 효율적이었는가와 기업으로부터 함께 승계되는 부채 등에 의존하는데, 선순위단기채권자의 승계투자가 후순위장기채권자의 그것보다 효율적인 경우가 존재함을 보인다. 이러한 결과는 단기채권자가 포괄승계자로서 보다 적절함을 시사한다.

Rebar Fabrication Process in both Field Processing and Factory Processing for adopting Lean Construction

윤석헌,김상철 대한건축학회 2013 Architectural research Vol.15 No.3

Due to increasing competition of construction companies, it is required to optimize the management of construction projects and "lean" concepts are rapidly spreaded in construction industry. Steel work accounts for a large proportion in construction work, and a variety of attempts to efficiently perform steel work has currently made. And since re-bar (Engineer-to-Order) can be engineered through design once order is placed, it gives the great impact on construction, thus, entire management is required. The purpose of this study is to present the method to increase the efficiency of field processing method of steel work in terms of lean construction. Once we examine process of steel work and identify the flow, we would like to analyze which processes should be improved through value analysis approach and present the improvement plans. Also, this study examines cases of field processing and factory processing, and it identifies the waste factors in the procurement process. Finally, this study would like to present the result of analysis from the perspectives of value. The re-bar delivery process is divided into several steps and the duration of every step is surveyed. Using duration data, VAT (Value added time) can be calculated for analyzing the efficiency of the process.

무선 RF모뎀과 GPS를 통합한 타워크레인의 철골부재의 실시간 양중위치 추적시스템 개발

윤석헌,이강 한국건축시공학회 2010 한국건축시공학회지 Vol.10 No.3

Steel frame construction in high places entails many risk factors. In order to improve the safety and productivity of steel frame construction, a project to develop a robotic tower-crane has been undertaken. As the first step, a real-time lifting-path tracking system is being developed. In a previous study, a laser-based tracking system was proposed. While a laser-based tracking system requires at least three laser sensors to detect the x, y,z coordinates of a lifted steel member, a GPS-based system has an advantage over the laser-based system, in that the x, y, z coordinates of a lifted steel member can be detected by a single GPS sensor. To improve the accuracy,arelative positioning method using two GPS sensors was proposed in a previous study. This paper reports an improved GPS-based lifting-path tracking system of a tower crane based on an integrated RF modem and GPS system. The results showedthat the RF modem could successfully send the identifier information to a server a maximum distance of 1 km away from the lifted steel beam, and the lifting path information of each beam captured by the GPS-based tracking system was successfully saved together. Also, byusing an improved algorithm for the GPS relative positioning method, the deviation was reduced to 0.61 m on average. 철골공사는 고소에서 작업을 하며 많은 위험요소가 따르며, 안전성과 생산성을 향상시키기 위해 로보틱 크레인개발을 위한프로젝트가 진행되었다. 그 첫 번째 단계로서 실시간 양중위치를 추적하는 시스템을 개발하였는데, 본 연구에서는 이를 위하여x, y, z 좌표를 쉽게 얻을 수 있는 GPS 센서를 사용하였다. 또한, 본 연구에서는 데이터의 정확도를 향상시키기 위해 2대의GPS센서를 사용하였으며, RF모뎀을 이용한 무선인식 태그와 함께 통합된 양중경로 추적 시스템을 개발하였다. 개발된 무선인식 태그와 RF모뎀 기반의 GPS 센서는 함께 최대 1 km까지 안정적으로 신호를 전송할 수 있으며, GPS의 상대측위기법을 사용하여 그 오차를 평균 0.61 m까지 줄일 수 있다

시공정보를 위한 데이터베이스 구축에 관한 연구

윤석헌,백준홍 대한건축학회 1996 대한건축학회 학술발표대회 논문집 - 계획계/구조계 Vol.16 No.2

Loan Monitoring , Competition and Socially Optimal Bank Capital Regulations

윤석헌 한국금융연구원 1992 Working Paper Vol.92 No.11

Credit Market Signalling Equilibria Under Fixed and Free Loan Rate Regulations

윤석헌 한국금융연구원 1994 Working Paper Vol.94 No.6

Structural Work Duration Estimation and Analysis of Tower-Type Residential Construction Project

윤석헌,김상철 대한건축학회 2012 Architectural research Vol.14 No.3

In order to shorten construction duration in high-rise project, construction company tried to make various system method toward simplifying construction method and shortening construction duration. Though high-rise tower-type residential project are growing, there are few case study. Then, the data for preliminary schedule planning in high-rise tower-type residential project are rare. This purpose of research shows construction method in structural work in high-rise tower-type residential project, suggests schedule planning in structural work through case studies. The structural work in high-rise tower-type residential project was divided 1) completion of form in lower part and 2) the typical floor under penthouse. The statistical analysis were done in two parts, the data from analysis were used in simulation. Finally, researcher confirmed the difference between real construction duration and the figure from simulation. The results shows that the more construction duration is long, the less ACS’s cost is low. It means the effectiveness is increasing in ACS, if the floor number is high.

Basic Research on BIM-based Quantity Take-off Guidelines

윤석헌,김상철 대한건축학회 2013 Architectural research Vol.15 No.2

Various types of building information should be linked to 3D model objects for their effective use by stakeholders. Because Building Information Modeling (BIM) based on 3D is used by different stakeholders, the created BIM need standard guidelines for each purpose, as, for example, for quantity take-off. Thus, this study was conducted to propose guidelines for BIM modeling for quantity take-off in the framework, especially, in the concrete and form. The proposed guidelines adopted each element of the BIM model based on an analysis of the problem of the general BIM model. Moreover, the usability and accuracy of the reinforced structure modeling guidelines were verified by comparing the quantity of the commercial estimation software and the modeling quantity using the proposed modeling guidelines.

Preliminary Study for Performance Analysis of BIM-based Building Construction Simulation System

윤석헌,전기현,손창백,김상철 대한토목학회 2014 KSCE JOURNAL OF CIVIL ENGINEERING Vol.18 No.2

A construction project is often uncertain and plans change frequently, so it is usually difficult to make a reliable and feasible plan. With the development of BIM technology, the future of the construction project can be simulated visually and a more reliable plancan be made. However, with BIM technology data production efficiency is low, since the data is utilized only for animation andvisual presentation. Furthermore, although various construction simulation systems have been developed, these systems posedifficulties in terms of measuring performance. In this study, a methodology for analyzing the performance of a 4D buildingconstruction simulation system after defining the work process and standard scenario is proposed. the proposed methodology wasverified by comparing the performance of the newly developed building construction simulation system and that of an existingcommercial building construction simulation system.

정보 비대칭성 하에서 은행의 조달과 경기순응성

윤석헌,박래수 한국재무학회 2008 한국재무학회 학술대회 Vol.2008 No.11