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Stock Price Co-movement and Firm's Ownership Structure in Emerging Market

  • VU, Thu Minh Thi
    • The Journal of Asian Finance, Economics and Business
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    • v.7 no.11
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    • pp.107-115
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    • 2020
  • This study is concerned with the relationship between firm's ownership structure and the co-movement of the stock return with the market return. Four different types of firm ownership, including managerial ownership, state ownership, foreign ownership, and concentrated ownership, are among the main features of the company's governance mechanism and have been separately documemented in the previous research to understand their impact on stock price synchronicity. We constructed the regression model, using stock price synchronicity as the dependent variable and the above four components of ownership structure as explanantory variables. The pooled OLS, the fixed effects model, and the random effects are employed to investigate the outcome of the study. Data used in the reserch are of public firms listed on the Ho Chi Minh City Stock Exchange (HOSE) during the five-year period term from 2015 to 2019. The data sample contains 235 companies from 10 industries with 1135 observations. The results revealed by the fixed effects model, the large ownership and the managerial ownership are found to have adverse effect on the stock price synchronicity, whereas the foreign ownership model is revealed to have positive influence on the stock return co-movement. The effect of the state ownership on the stock price synchronicity is not confirmed.

Intergrated Ecological Health Assessments in Cho River (초강의 통합적 생태건강성 평가)

  • Choi, Ji-Woong;An, Kwang-Guk
    • Korean Journal of Ecology and Environment
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    • v.39 no.3 s.117
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    • pp.320-330
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    • 2006
  • An integrated health of a lotic ecosystem, Cho River, was evaluated by various approaches such as conventional water quality analysis, physical assessments of Qualitative Habitat Evaluation Index (QHEI), and the bioassay of Index of Biological Integrity (IBI) durin August${\sim}$September 2005. The IBI model used in the study was based on original multivariate metric model and then modified the metric attributes of the model for the regional application. Physical habitat health, based on the QHEI, was estimated using eleven metrics. During the study, values of IBI model averaged 36, which was judged as 'fair' to 'good' conditions. Spatial variations in the model values were evident: the headwater site (S1) was estimated as 48, indicating an 'excellent' condition, and the other sites were estimated 32${\sim}$38, 'good' condition. Values of the QHEI in the all sites averaged 148, which is judged as a good condition. The QHEI values varied from 120 (fair condition) to 199 (excellent condition) depending on the location of the stream. Site 5 (S5) was estimated as 'fair${\sim}$good' condition, while Site 7 (S7) was estimated as 'excellent' condition. The biological health, based on the IBI, reflected the habitat health. However, chemical conditions in terms of pH, turbidity, electric conductivity, dissolved oxygen (DO) did not make a difference in the biological health because of minor chemical differences among the locations.

A Comparison Study of Runoff Projections for Yongdam Dam Watershed Using SWAT (SWAT모형을 이용한 용담댐 유역의 유량 전망 결과 비교 연구)

  • Jung, Cha Mi;Shin, Mun-Ju;Kim, Young-Oh
    • Journal of Korea Water Resources Association
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    • v.48 no.6
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    • pp.439-449
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    • 2015
  • In this study, reliable future runoff projections based on RCPs for Yongdam dam watershed was performed using SWAT model, which was validated by k-fold cross validation method, and investigated the factors that cause the differences with respect to runoff projections between this study and previous studies. As a result, annual average runoff compared to baseline runoff would increase 17.7% and 26.1% in 2040s and 2080s respectively under RCP8.5 scenario, and 21.9% and 44.6% in 2040s and 2080s respectively under RCP4.5 scenario. Comparing the results to previous studies, minimum and maximum differences between runoff projections over different studies were 10.3% and 53.2%, even though runoff was projected by the same rainfall-runoff model. SWAT model has 27 parameters and physically based complex structure, so it tends to make different results by the model users' setting. In the future, it is necessary to reduce the cause of difference to generate standard runoff scenarios.

Bayesian Analysis for Multiple Capture-Recapture Models using Reference Priors

  • Younshik;Pongsu
    • Communications for Statistical Applications and Methods
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    • v.7 no.1
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    • pp.165-178
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    • 2000
  • Bayesian methods are considered for the multiple caputure-recapture data. Reference priors are developed for such model and sampling-based approach through Gibbs sampler is used for inference from posterior distributions. Furthermore approximate Bayes factors are obtained for model selection between trap and nontrap response models. Finally one methodology is implemented for a capture-recapture model in generated data and real data.

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An FE-based Model for the Prediction of Deformed Roll Profile in Multi-high Rolling Mills - Part II : Application to a Sendzimir Mill (다단 압연기에서의 롤 변형 프로파일 예측 모델 - Part II : 젠지미어 압연기로의 적용)

  • Cho, J.H.;Hwang, S.M.
    • Transactions of Materials Processing
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    • v.21 no.7
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    • pp.426-431
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    • 2012
  • The work roll of a Sendzimir mill has a small diameter in comparison to its length, so it is easily deformed by the rolling pressure. It also has a complex back up roll system, so it is difficult to analyze the roll deformation. For this reason in Part I we have developed a model which predicts the radial displacement of the roll. In this paper, we apply the model to a Sendzimir mill and propose a new model for the prediction of the deformed roll profile in a Sendzimir mill. The prediction accuracy of the new model is demonstrated through comparison of the predictions from the FE model.

A Road Map for Developing a Stock Trading Model (주식투자모델 개발을 위한 로드맵)

  • Choi, Se-Ill
    • The Journal of the Korea institute of electronic communication sciences
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    • v.7 no.3
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    • pp.661-670
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    • 2012
  • In order to construct a profitable stock trading model, three considerations must be resolved in the model in integrated manner: profit principle, trader's conditions and stock market trends. Generally, a model will be developed through long experiences of stock trading that requires quite amount of expenses and time. This paper analyzes the issues involved in those considerations and proposes a road map for a trading model.

Delay Analysis of Urgent Data in the Foundation Fieldbus and Experimental Verification (Foundation Fieldbus에서 긴급데이터의 지연시간 성능해석 및 실험적 검증)

  • 홍승호;손병관
    • Journal of Institute of Control, Robotics and Systems
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    • v.9 no.7
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    • pp.569-576
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    • 2003
  • The data link layer of Foundation Fieldbus provides both token-passing and scheduling services for periodic, time-critical and time-available data. This study developed an analytical model that evaluates the delay performance of urgent data when the data link layer of Foundation Fieldbus provides token-passing service. The validity of analytical model is verified using an experimental model that consists of network interface boards of Foundation Fieldbus. Comparison of analytical and experimental models shows that the analytical model can be utilized in the approximate analysis of the delay characteristics of time-critical data in the Foundation Fieldbus. The analytical model can also be used in the basic design stage of Foundation Fieldbus network system.

Optimal Inner Case Design for Refrigerator by Utilizing Artificial Neural Networks and Genetic Algorithm

  • Zhai, Jianguang;Cho, Jong-Rae;Roh, Min-Shik
    • Journal of Advanced Marine Engineering and Technology
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    • v.34 no.7
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    • pp.971-980
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    • 2010
  • In this paper, an artificial neural network (ANN) was employed to build a predicting model for refrigerator structure. The predicting model includes three input variables of the plaque depth (D), width (W) and interval distance(S) on the inner wall. Finite element method was utilized to obtain the data, which would be necessary for the ANN training process. Finally, a genetic algorithm (GA) was applied to find the optimal parameters that leaded to the minimum inner case deformation under operating condition. The optimal combination found is the depth(D) of 2.63mm, the width(W) of 19.24mm and the interval distance(S) of 49.38mm which leaded to the smallest deformation of 1.88mm for the given refrigerator model.

A Comparative Study of the CNN Model for AD Diagnosis

  • Vyshnavi Ramineni;Goo-Rak Kwon
    • Smart Media Journal
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    • v.12 no.7
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    • pp.52-58
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    • 2023
  • Alzheimer's disease is one type of dementia, the symptoms can be treated by detecting the disease at its early stages. Recently, many computer-aided diagnosis using magnetic resonance image(MRI) have shown a good results in the classification of AD. Taken these MRI images and feed to Free surfer software to extra the features. In consideration, using T1-weighted images and classifying using the convolution neural network (CNN) model are proposed. In this paper, taking the subjects from ADNI of subcortical and cortical features of 190 subjects. Consider the study to reduce the complexity of the model by using the single layer in the Res-Net, VGG, and Alex Net. Multi-class classification is used to classify four different stages, CN, EMCI, LMCI, AD. The following experiment shows for respective classification Res-Net, VGG, and Alex Net with the best accuracy with VGG at 96%, Res-Net, GoogLeNet and Alex Net at 91%, 93% and 89% respectively.

An Improved Homonym Disambiguation Model based on Bayes Theory (Bayes 정리에 기반한 개선된 동형이의어 분별 모텔)

  • 김창환;이왕우
    • Journal of the Korea Computer Industry Society
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    • v.2 no.12
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    • pp.1581-1590
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    • 2001
  • This paper asserted more developmental model of WSD(word sense disambiguation) than J. Hur(2000)'s WSD model. This model suggested an improved statistical homonym disambiguation Model based on Bayes Theory. This paper using semantic information(co-occurrence data) obtained from definitions of part of speech(POS) tagged UMRD-S(Ulsan university Machine Readable Dictionary(Semantic Tagged)). we extracted semantic features in the context as nouns, predicates and adverbs from the definitions in the korean dictionary. In this research, we make an experiment with the accuracy of WSD system about major nine homonym nouns and new seven homonym predicates supplementary. The inner experimental result showed average accuracy of 98.32% with regard to the most Nine homonym nouns and 99.53% for the Seven homonym predicates. An Addition, we save test on Korean Information Base and ETRI's POS tagged corpus. This external experimental result showed average accuracy of 84.42% with regard to the most Nine nouns over unsupervised learning sentences from Korean Information Base and ETRI Corpus, 70.81 % accuracy rate for the Seven predicates from Sejong Project phrase part tagging corpus (3.5 million phrases) too.

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