• Title/Summary/Keyword: 공통비율효과

Search Result 34, Processing Time 0.021 seconds

기본적(基本的) 변수(變數)와 주식수익률(株式收益率)의 관계(關係)에 관한 실증적(實證的) 연구(硏究)

  • Gam, Hyeong-Gyu
    • The Korean Journal of Financial Management
    • /
    • v.14 no.2
    • /
    • pp.21-55
    • /
    • 1997
  • 본 연구는 기업규모, 장부가치/시장가치 비율, 순이익/주가 비율, 현금흐름/주가 비율, 레버리지 등 기본적 변수를 사용하여 주식수익률에 유의적인 변수를 확인하고, 또한 Fama and French(1993) 등에 의해서 제시된 다요인모형(multi-factor model)이 한국주식시장에서 적용가능한 지를 살펴보았다. 이를 위하여 본 연구에서는 Fama and MacBeth(1973)의 횡단면회귀모형과 Black, Jensen, and Scholes (1972)의 시계열모형을 사용하였으며, 실증분석결과를 요약하면 다음과 같다. 먼저 횡단면분석결과에 의하면, 장부가치/시장가치 비율(BE/ME), 현금흐름/주가 비율(C/P) 등이 주식수익률의 횡단면적 차이를 설명할 수 있는 유의적인 변수로 나타났다. 그리고 통계적 의미에서는 1월효과가 존재한다고 보기 어려우나, 경제적 의미에서 1월효과가 존재하는 것으로 생각된다. 시계열분석결과에 의하면, 시장요인, 기업규모요인, 장부가치/시장가치요인(또는 현금흐름/주가요인) 등의 3요인에 의해서 국내 주식수익률의 공통적 변동을 잘 설명할 수 있다. 즉 국내 증권시장에서도 Fama and French(1993)의 3요인모형이 성립될 수 있는 것으로 판단된다.

  • PDF

The Exploratory Study for the Effect of Good and Bad Luck on Risky Decision: Perspective of Probabilistic Framing Effect (행운과 불운이 모험적 의사결정에 미치는 효과에 대한 탐색적 연구: 확률적 틀 효과의 관점에서)

  • Lee, Byung-Kwan;Lee, Guk-Hee
    • Korean Journal of Cognitive Science
    • /
    • v.26 no.3
    • /
    • pp.279-300
    • /
    • 2015
  • Present research was carried out on the level of exploration to verify that good luck increases probabilistic framing effect but bad luck decrease the effect. And we organized an experiment that designed experience of luck (good luck vs. bad luck vs. control) ${\times}$ probabilistic frame (high vs. low) and observed whether people response based on probabilistic frame or not. As a result, we observed the two-way interaction where experience of good luck increased probabilistic framing effect, while experience of bad luck decreased the effect (Figure 1). We expect to see more studies of contextual framing effect besides probabilistic frame (e.g., positive vs. negative; loss related to context vs. loss irrelevant to context).

Outcomes from an education program operation to manage agricultural NPS pollution at a typical rural village (농촌마을 주민의 농업 비점오염원 관리 역량강화 교육의 효과)

  • Jang, Jeong Ryeol
    • Proceedings of the Korea Water Resources Association Conference
    • /
    • 2018.05a
    • /
    • pp.59-59
    • /
    • 2018
  • 최근 수질오염원 중에서 비점오염원의 영향 높아지고 있다. 특히, 농경활동에서 유래되는 비점오염원이 공공수역의 수질에 미치는 영향이 증가하고 있다. 농경지에서 배출되는 비점오염원은 관리대상 면적이 넓어 비점오염 배출을 저감하기 위해서는 사전예방적 차원에서 접근이 필요하다. 하지만, 비점오염원에 대한 농업인과 주민들의 인식 부족으로 인하여 관리에 많은 어려움이 있다. 근래에 농업 비점오염원 저감을 위한 노력으로 물리적 기술적 접근만이 아니라 사회 문화적 접근이 병행되어야 한다는 점이 강조되고 있다. 따라서 본 연구에서는 농업 비점오염원 관리를 위한 사회문화적인 접근 방법으로서 전형적인 한국의 농촌 마을에서 농업 비점오염원에 대한 인지도 향상과 자발적 저감활동 실천 참여를 유도하기 위하여 개발된 역량강화 교육프로그램이 교육 대상자인 농업인, 주민, 마을지도자의 인식변화에 미치는 효과를 살펴보았다. 역량강화 프로그램은 농업인과 지역주민, 마을리더의 인문사회적 특성을 고려하여 공통과정과 맞춤형 과정으로 구성하였다. 농업인은 농업비점오염 저감에 적용할 수 있는 시비관리와 배수 물고관리, 영농폐기물 관리, 친환경농업에 대한 내용으로 구성하였다. 마을주민은 고령화된 여성의 비율이 높은 것을 고려하여 분리수거, 쓰레기 문단투기 및 소각, 마을 미래상과 환경실천에 대해서 교육하였다. 마을리더에게는 공동체 활성화 리더쉽, 주체적 주민참여, 갈등관리에 대한 내용으로 구성하였다. 공통적으로는 비점오염원과 농업 비점오염원의 정의와 유형, 마을환경관리 실천활동, 친환경농업 선진지 견학으로 구성하였다. 교육프로그램은 2년 동안 진행되었으며 마을별로 방문하여 진행하였다. 농촌 마을에서 농업비점오염원 역량강화 교육 프로그램의 효과는 다음과 같다. 교육 전의 소극적 참여의사에서 적극적인 활동 참여로 발전하였으며, 비점오염원에 대한 인식 및 관리 필요성에 대한 인식이 개선되었다. 농업 비점오염원 보다는 일반적인 비점오염에 대한 인지효과가 높게 나타났다. 따라서 농촌지역에서 농업비점에 대한 인식 변화가 저감활동 실천으로까지 이루어지는 가시적 효과를 거두기 위해서는 장기간이 소요됨을 시사하였다.

  • PDF

Sound Enhancement of low Sample rate Audio Using LMS in DWT Domain (DWT영역에서 LMS를 이용한 저 샘플링 비율 오디오 신호의 음질 향상)

  • 백수진;윤원중;박규식
    • The Journal of the Acoustical Society of Korea
    • /
    • v.23 no.1
    • /
    • pp.54-60
    • /
    • 2004
  • In order to mitigate the problems in storage space and network bandwidth for the full CD quality audio, current digital audio is always restricted by sampling rate and bandwidth. This restriction normally results in low sample rate audio or calls for the data compression scheme such as MP3. However, they can only reproduce a lower frequency range than a regular CD quality because of the Nyquist sampling theory. Consequently they lose rich spatial information embedded in high frequency. The propose of this paper is to propose efficient high frequency enhancement of low sample rate audio using n adaptive filtering and DWT analysis and synthesis. The proposed algorithm uses the LMS adaptive algorithm to estimate the missing high frequency contents in DWT domain and it then reconstructs the spectrally enhanced audio by using the DWT synthesis procedure. Several experiments with real speech and audio are performed and compared with other algorithm. From the experimental results of spectrogram and sonic test, we confirm that the proposed algorithm outperforms the other algorithm and reasonably works well for the most of audio cases.

Implementation agency effect on Self-Sufficiency of Participants in Self-Support Program (자활사업 집행기관이 자활사업 참여자의 자활효과에 미치는 영향 - 위계선형모형(HLM)의 적용을 중심으로 -)

  • Lee, Young-Chul;Kim, So-Joung
    • Korean Journal of Social Welfare Studies
    • /
    • v.40 no.2
    • /
    • pp.227-252
    • /
    • 2009
  • This study set out to investigate implementation agency effect on participants' self-sufficiency in self-support program. Self-support program's implementation agency consist of civil groups and social welfare corporations. The final sample size was 602 program participants and 18 implementation agencies in Gwangju city, South Korea. Two-level hierarchical linear model was used for analysis. The major findings of this study are as follows. First, civil groups' participants were healthier, more often participated in business model, earned higher monthly income, participated shorter time rather than participants in social welfare corporation. Second, civil groups' participants showed low level of self-sufficiency than participants in social welfare corporations. These results means that self-support policy is not delivered uniformly because front-line implementation agencies develop work habits that influence the outcome of policy. And limitations and implications of this study were discussed with respect to further studies.

Shape Control of Silica-Polymethylsilsesquioxane (PMSQ) Composites by Varying Ratios of Precursors (전구체 비율에 따른 실리카-폴리메틸실세스퀴옥세인(PMSQ) 복합분체의 형태 제어)

  • Choi, Yigun;Choi, Jongmin;Kim, Hyojoong
    • Journal of the Society of Cosmetic Scientists of Korea
    • /
    • v.45 no.4
    • /
    • pp.409-414
    • /
    • 2019
  • Silica and polymethylsilsesquioxane (PMSQ) are silicone powders widely used as cosmetics. We synthesized silica-PMSQ composites via sol-gel method using tetraethoxysilane (TEOS) and methyltrimethoxysilane (MTMS) as precursors of silica and PMSQ, respectively. Shape of the composites was controlled by varying the ratios of TEOS and MTMS, which were used as silane monomers. Silica-PMSQ composites showed three different shapes, which were sphere-shape, raspberry- shape, and donut- shape. All of them had soft touch, easy water dispersion, and soft focus effect in common. However, each shape showed some differences in sense of use, adhesion, and strength of the soft focus effect. Raspberry-shape composite had the strongest soft focus effect, donut-shape one had the strongest adhesion, and sphere-shape one had the best in softness. Thus, it is concluded that by varying the ratios of TEOS and MTMS silica-PMSQ composites could be easily synthesized into different shapes, providing various functions. This method can be applied to manufacture functional cosmetics.

개인의 사회적 규범 기속성(羈束性)과 공공정책의 성공 조건

  • Gang, Eun-Suk;Kim, Jong-Seok
    • 한국정책학회보
    • /
    • v.21 no.3
    • /
    • pp.241-264
    • /
    • 2012
  • 인간에 대한 신고전파 경제학의 가정을 확장할 경우, 인간은 사회적 선호를 가지고 있고 규범을 사용하며 전통과 관습으로부터 자유롭지 못한 존재라고 볼 수 있다. 이 논문에서는 특히 사회적 규범을 따르는 개인의 행위를 명시적으로 고려하여 내면화된 사회적 규범을 따르는 경우에 얻는 심리적 만족감과 따르지 않을 경우 치러야 하는 심리적 비용을 δ 요인이라고 개념화하였다. 그리고 나서 이러한 δ 요인이 집단행동의 딜레마상황을 해결하는데 어떤 순기능을 발휘하는지, 낮은 행정비용으로 정책의 효과성을 제고하는데 어떻게 기여하는지를 살펴보았다. 또한 이러한 #x03B4; 요인이 정책관련 변수와 상호작용하여 어떻게 정책의 목표를 달성하는데 방해가 될 수 있는지도 들여다 보았다. 이를 위해 다양한 (가상적) 정책사례들을 살펴본 후 정책이 δ 요인과 상호보완적으로 작용하여 정책집행의 성공에 도움이 되는 공통된 조건이 무엇인지를 도출하였다. 사회적 규범을 따르는 개인들의 비율이 클수록, 정책대상이 되는 개인들의 행위에 대한 관측가능성의 정도가 높을수록, 사회규범의 준수가 개인의 이익과 연계될수록, 정책으로 실현하고자 하는 가치와 기존 규범과의 충돌이 최소화될수록, 합리적 이기주의자에 대한 통제가 충분히 이루어질수록 δ 요인은 정책과 보완적 관계가 형성되어 정책집행의 성공가능성을 높이는 것으로 분석되었다.

Adaptation to Baby Schema Features and the Perception of Facial Age (인물 얼굴의 나이 판단과 아기도식 속성에 대한 순응의 잔여효과)

  • Yejin Lee;Sung-Ho Kim
    • Science of Emotion and Sensibility
    • /
    • v.25 no.4
    • /
    • pp.157-172
    • /
    • 2022
  • Using the adaptation aftereffect paradigm, this study investigated whether adaptation to baby schema features of the face and body could affect facial age perceptions. In Experiment 1, participants were asked to determine whether the test faces that morphed at a certain ratio of a baby face and an adult face were perceived as 'baby' or 'adult' after being adapted to either a baby or an adult face. The result of Experiment 1 showed that after being adapted to baby faces, test faces were assessed as belonging to an adult more often than when being adapted to adult faces. In the subsequent experiments, participants carried out the same facial age judgment task after being adapted to baby or adult body silhouettes (Experiment 2) or hand images (Experiment 3). The results revealed that age perceptions were biased in the direction of the adaptors (i.e., an assimilative aftereffect) after adaptation to body silhouettes (Experiment 2) but did not change after being adapted to hands (Experiment 3). The present study showed that contrastive aftereffects in the perception of facial age were induced by adaptation to the baby face but failed to determine the cross-category transfer of age adaptation from hands or body silhouettes to faces.

A Study on the Effects of Human Capital and Social Capital on Life Satisfaction of Middle-aged Single Males: Comparing One-person Households and Multi-person Households (중년 무배우남성의 생활만족도에 대한 인적자본과 사회자본의 효과 분석 : 1인가구와 다인가구의 비교를 중심으로)

  • Seo, Jiwon;Lee, Sujin
    • Journal of Family Resource Management and Policy Review
    • /
    • v.25 no.4
    • /
    • pp.87-99
    • /
    • 2021
  • The life of middle-aged one-person households is rising as one of the most important family policy issues in Korean society. In Japan, even in multi-person households, the issues of middle-aged sons and daughters living with their old parents have been a concern. Data are from the 13th wave of the Korea Welfare Panel Study analyzing 482 middle-aged singe males regardless of their past marital status. The purpose of this study is to investigate the effects of human capital and social capital on the life satisfaction of middle-aged single persons by comparing one-person and multi-person households, respectively. Major results were as follows: First, the level of human capital of one-person households of middle aged males was lower than their counterparts in multi-person households. Second, the level of social capital in the group of divorced or widowed, nonhouseholder middle-aged males in multi-person households was lower than their counterparts in one-person households. Third, the effects of human capital and social capital on life satisfaction was significantly different by their marital status and household types in the group of middle-aged single males. Based on the results, policy implications on the community programs for middle-aged males including not only one-person households but also multi-person households were discussed.

A Relationship Analysis of Terms and Inquiries in Ocean Unit of Science Textbooks Based on the Korean National Common Basic Curriculum (국민공통기본교육과정 과학과의 해양영역에 관련된 용어 및 탐구의 연계성 분석)

  • Koh, Yeong-Koo;Youn, Seok-Tai;Oh, Kang-Ho
    • Journal of the Korean earth science society
    • /
    • v.25 no.7
    • /
    • pp.576-585
    • /
    • 2004
  • This study was conducted to analyze the relationships between terms, learning concepts and inquiries in ocean unit, the National Common Basic Curriculum. The several science textbooks were selected to use for study, written in accordance with the 7 current national curriculum for the fourth grade of elementary school, the seventh of middle school and the tenth of high school. The higher the school level becomes, the frequencies of using terms related with ocean region get. The explanation of terms, however, has a tendency to be less frequent in the high school level. In the perspective of learning concept, there are more concrete concepts than formal concepts regardless of school level. Pure scientific context appears most often in inquiry contest through the whole course of every school level. In respect to inquiry process, the frequency of integrative inquiry process is on the increase as the school level gets higher. From the viewpoint of inquiry activity, there have been a lot of discussions, experiments and investigations in every school level, while high school does not the present any field study and project. Through these result, it is considered that the explanation of main terms is inevitable in the textbooks as basic educational material without regard to school level. In learning concept and inquiry context, a well-rounded learning is needed in relation to students' cognitive development and science-technology-society. Especially for the inquiry activity of earth science education, the educational effect is remarkable through field study; its appropriate application is required, accordingly.