• Journal of Practical Agriculture & Fisheries Research
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• v.19 no.1
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• pp.139-151
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• 2017

This study was conducted to confirm the rumen fermentation characteristics of large-scale CoenzymeQ10(CoQ10) producing bacteria R. spharoides in rumen. We conducted in vitro continuous culture test to investigate the characteristics of rumen fermentation with 5% R. spharoides as a direct fed microorganism. A rumen microbial fermentation characteristic has stability at after 12 days for 15 day of experimental period. pH value, NH₃-N, microbial protein synthesis, ADF digestibility and NDF digestibility were not shown significantly differences between control and treatment. However, UDP was significantly higher in treatment than control (p<0.05). CoQ10 concentration was 336.0mg/l with 5% R. spharoides. On the other hands, CoQ10 was not detected without R. spharoides. Our study was shown that R. spharoides can produce CoQ10 in rumen environment without harmful effects on rumen fermentation parameter. CoQ10 in rumen may transfer into cow milk through cow metabolism. This strategy might be helpful for producing functional dairy cow milk.

• Korea Trade Review
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• v.46 no.6
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• pp.73-92
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• 2021

Small and medium-sized enterprises (SMEs) account for a large proportion of the total number of enterprises in many countries. The development of SMEs has contributed to job creation and economic benefits. Every government has formulated active diversification strategies to promote the export market of SMEs, but the performance of export capabilities remains insufficient. The primary purpose of this study is to examine the effectiveness of export credit insurance in promoting SME export performance in Canada. Using data from 2008-2017, the augmented Dickey-Fuller (ADF) model to test the stationarity of the concerned variables and the error correction model (ECM) and autoregressive distributed lag (ARDL) cointegration test to empirically investigate the cointegration relationship between the research targets. The results represent the positive and critical impact of export relative price and domestic demand pressure on Canada's export performance, and the negative impact of the export volume index at a significant level. Regrettably, the impact of export credit insurance on the export performance of Canadian SMEs is considered exaggerated overall. In view of this result, it is necessary for the Canadian government to enact policies based on the current market status. And enhance confidence among SMEs to begin exports and diversify their markets rather than focusing only on the domestic or US market, especially given the impact of COVID-19. From the case of Canada, Korean government can attempt to learn from them to conduct more efficient strategies for SMEs.

• Korean Journal of Breeding Science
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• v.43 no.6
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• pp.519-523
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• 2011

''Nokyang', a new high biomass yield and whole crop silage rice (Oriza sativa L.) cultivar, was developed by the rice breeding team of National Institute of Crop Science, RDA, Suwon, Korea, during the period from 1996 to 2006 and released in 2007. It was derived from a cross between Yongmoonbyeo/IR67396-16-3-3-1. This cultivar has about 130 days of growth duration from seeding to heading and is tolerance to lodging with erect pubescent leaves, semidwarf (culm length 78 cm) and thick culm. This cultivar has less tillers per hill and more spikelet numbers per panicle than Dasanbyeo. 'Nokyang' has wide and stay green leaf compared other Tongil-type varieties. This new variety is resistant to grain shattering and to some disease including bacterial leaf blight and stripe virus. This variety has good qualities for whole crop silage with high TDN (Total Digestive Nutrient) yield and low NDF (Neutral Detergent Fiber) and low ADF (Acid Detergent Fiber) and high RFV (Relative Feed Value) compared to common high grain yield varieties. The biomass and TDN yield performance of 'Nokyang' is 1,652 MT/ha, 9.9 MT/ha, individually in local adaptability test for three years. 'Nokyang' is adaptable to central plain area, south-eastern plain area of Korea.

• Journal of Distribution Research
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• v.17 no.2
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• pp.93-115
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• 2012

This study empirically examines the impact of changes in market shares among retailing types on the price index. The retailing type is classified into 6 groups: department store, big mart, super market, convenient store, specialty merchant, and on-line store. The market shares of retailing types are calculated by the ratio of each retailing type monthly sales to total monthly retailing sales in which total retailing sales is the sum of each retailing type sales. We employed several price indices: consumer price index (CPI), CPI for living necessaries, and fresh food price index. In addition, this study used fundamental price indices based on 25 product families as well as 42 representative products. The empirical model also included several variables in order to control for the macroeconomic effects and those variables are the exchange rate, M1, an oil price, and the industrial production index. The data is monthly time-series data spanning over the period from January 2000 to December 2010. In order to test for the stability of data series, we conducted ADF test and PP test in which the model and length of lag were determined by the relevant previous literature and based on the AIC. The empirical results indicate that changes in market shares among retailing types have impacts on the price index. Table A shows that impacts differ as to which price index to use and which product families and products to use. For department store, it lowers the price of food and non-alcoholic beverages, home appliances, fresh food, fresh and vegetables, but it keeps the price high for fresh fruit. The big mart retailing type has a positive impact on the price of food, nut has a negative effect on clothing and foot wear, non-food, and fresh fruit. For super market, it has a positive impact on food and non-alcoholic beverages, fresh food, fresh shellfishes, but increases the price of CPI for living necessaries and non-food. The specialty merchant retailing type increases the price level of CPI for living necessaries and fresh fruit. For on-line store type, it keeps the price high for CPI for living necessaries and non-food as well as fresh fruit. For the analysis based on 25 product families shows that changes in market shares among retailing types also have different effects on the price index. Table B summarizes the different results. The 42 representative product level analysis is summerized in Table C and it indicates that changes in market shares among retailing types have different effects on the price index. The study offers the theoretical and practical implication to these findings and also suggests the direction for the further analysis.

• The Journal of Industrial Distribution & Business
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• v.9 no.5
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• pp.63-72
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• 2018

Purpose - This work analyzes, in detail, the specification of vector error correction model (VECM) and thus examines the relationships and impact among seven economic variables for USA - balance on current account (BCA), index of stock (STOCK), gross domestic product (GDP), housing price indices (HOUSING), a measure of the money supply that includes total currency as well as large time deposits, institutional money market funds, short-term repurchase agreements and other larger liquid assets (M3), real rate of interest (IR_REAL) and household credits (LOAN). In particular, we search for the main explanatory variables that have an effect on stock and real estate market, respectively and investigate the causal and dynamic associations between them. Research design, data, and methodology - We perform the time series vector error correction model to infer the dynamic relationships among seven variables above. This work employs the conventional augmented Dickey-Fuller (ADF) and Phillips-Perron (PP) unit root techniques to test for stationarity among seven variables under consideration, and Johansen cointegration test to specify the order or the number of cointegration relationship. Granger causality test is exploited to inspect for causal relationship and, at the same time, impulse response function and variance decomposition analysis are checked for both short-run and long-run association among the seven variables by EViews 9.0. The underlying model was analyzed by using 108 realizations from Q1 1990 to Q4 2016 for USA. Results - The results show that all the seven variables for USA have one unit root and they are cointegrated with at most five and three cointegrating equation for USA. The vector error correction model expresses a long-run relationship among variables. Both IR_REAL and M3 may influence real estate market, and GDP does stock market in USA. On the other hand, GDP, IR_REAL, M3, STOCK and LOAN may be considered as causal factors to affect real estate market. Conclusions - The findings indicate that both stock market and real estate market can be modelled as vector error correction specification for USA. In addition, we can detect causal relationships among variables and compare dynamic differences between countries in terms of stock market and real estate market.

• Journal of Fisheries and Marine Sciences Education
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• v.28 no.1
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• pp.198-210
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• 2016

This study firstly aims to estimate a leading-price of Jeju flounders with various price-classes by fish weight and secondly plans to provide policy implications of flounder purchase projects by understanding dynamic changes and interactions among flounder producer price-classes caused by price impulses in the market. This study applies an unit root test for stability of data, uses a Granger causality test to estimate the leading-price among producer prices by fish weight, employs the vector autoregressive model to analyze statistical impacts among t-1 variables used in models, and finally utilizes impulse response analyses and forecast error variance decomposition analyses to understand dynamic changes and interactions among change rates of the producer prices caused by price impulses in the market. The results of the study are as follows. Firstly, KPSS, PP, and ADF tests show that the change rate of Jeju flounder monthly producer prices by fish weight differentiated by logarithm is stable. Secondly, the Granger causality test presents that the change rate of the 1kg flounder producer price strongly leads it of 500g, 700g, and 2kg flounder producer prices respectively. Thirdly, the vector autoregressive model indicates that the change rate of the 1kg producer price in t-1 period statistically, significantly influences it of own weight in t period and also slightly affects price change rates of other weights in t period. Fourthly, the impulse response analysis indicates that impulse responses of structural shocks for the change rate of the 1kg producer price are relatively more powerful in its own weight and in other weights than shocks emanating from price change rates of other weights. Fifthly, the variance decomposition analysis points out that the change rate of the 1kg producer price is relatively more influential than it of 500g, 700g, and 2kg producer prices respectively. In conclusion, the change rate of the 1kg Jeju flounder producer price leads the change rates of other ones and Jeju purchase projects need to be targeted to the 1kg Jeju flounder producer price as the purchase project implemented in 2014.

• Journal of Korea Port Economic Association
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• v.24 no.1
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• pp.1-10
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• 2008

This paper analyses the dynamic causal relationship between vessel export and economic growth using annual data over the period from 1977 to 2006. Tests for ADF unit-roots, the dynamic vector using Johansen's multiple cointegration procedure, dynamic vector error correction model and impulse response function are presented. The findings of the Granger test suggest that vessel export Granger-causes economic growth in the short-run and economic growth Granger-causes exports in the short and long-run. The empirical results of impulse-response analysis show that the vessel export to a shock in real GDP responds positively and the real GDP responds positively to the shocks in vessel export. Also, the results indicate that the impact of vessel export shock on the real GDP is short-lived.

• Journal of Biosystems Engineering
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• v.38 no.4
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• pp.223-227
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• 2013

Purpose: The objectives of this study were to develop a general purpose baler system that is appropriate for the domestic forage cultivation environment and operated by the medium size tractor for production of bale silage made of green forage crops, and to test its performance. Methods: In a first experiment, the time of formation per one bale and densities of bales that are produced from bale system, were measured. In a second experiment, power requirement was measured by a power measurement system manufactured during bale system work. Results: The power measurement system was constructed with strain-gage sensors to measure torque of a PTO axle and proximity sensor to measure rotating speed of a PTO axle. Thus, the power requirement was calculated by PTO torque and PTO rotating speed. For evaluation of bale quality, the samples of bales were analyzed for contents of moisture, ADF, NDF and TDN. Conclusions: If the results of this study will be utilized, the coefficient of utilization of agricultural machinery will be increased by the operation of a medium size tractor that is a major disseminated tractor in farm, and it will contribute tremendously to make a forage production base for livestock farms.

• Journal of Distribution Science
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• v.11 no.10
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• pp.63-72
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• 2013

Purpose - This study analyzes the relationship and dynamic interactions between stock price index, interest rate, price index, and housing price indices using Korean monthly data from 2000 to 2013, based on a VAR model. This study also examines Granger causal relationships among these variables in order to determine whether the time series of one is useful in forecasting another, or to infer certain types of causal dependency between stochastic variables. Research design, data, and methodology - We used Korean monthly data for all variables from 2000: M1 to 2013: M3. First, we checked the correlations among different variables. Second, we conducted the Augmented Dickey-Fuller (ADF) test and the co-integration test using the VAR model. Third, we employed Granger Causality tests to quantify the causal effect from time series observations. Fourth, we used the impulse response function and variance decomposition based on the VAR model to examine the dynamic relationships among the variables. Results - First, stock price Granger affects interest rate and all housing price indices. Price index Granger, in turn, affects the stock price and six metropolitan housing price indices. However, none of the Granger variables affect the price index. Therefore, it is the stock markets (and not the housing market) that affects the housing prices. Second, the impulse response tests show that maximum influence on stock price is its own, and though it is influenced a little by interest rate, price index affects it negatively. One standard deviation (S.D.) shock to stock price increases the housing price by 0.08 units after two months, whereas an impulse shock to the interest rate negatively impacts the housing price. Third, the variance decomposition results report that the shock to the stock price accounts for 96% of the variation in the stock price, and the shock to the price index accounts for 2.8% after two periods. In contrast, the shock to the interest rate accounts for 80% of the variation in the interest rate after ten periods; the shock to the stock price accounts for 19% of the variation; however, shock to the price index does not affect the interest rate. The housing price index in 10 periods is explained up to 96.7% by itself, 2.62% by stock price, 0.68% by price index, and 0.04% by interest rate. Therefore, the housing market is explained most by its own variation, whereas the interest rate has little impact on housing price. Conclusions - The results of the study elucidate the relationship and dynamic interactions among stock price index, interest rate, price index, and housing price indices using VAR model. This study could help form the basis for more appropriate economic policies in the future. As the housing market is very important in Korean economy, any changes in house price affect the other markets, thereby resulting in a shock to the entire economy. Therefore, the analysis on the dynamic relationships between the housing market and economic variables will help with the decision making regarding the housing market policy.

• The Korean Journal of Mycology
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• v.48 no.4
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• pp.407-414
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• 2020

To replace the sawdust in the growth medium of oyster mushroom to utilize its by-product spent mushroom substrates (SMS) as feed for ruminant, we performed cultivation test using cotton seed hull pellet (CSHP), corn stalk pellet (CSP), corncob (CC), and analyzed the feed chemical properties of those SMS. As a result of cultivation test, CC and CSHP treatment took 27 days for spawn run, 4 days for primordium formation, and 3 days for development fruiting bodies, resulting in a total cultivation period of 34 days. The yield per bottle was 134 g for CC treatment, similar to 130 g for control, while CSHP treatment (112 g) and CSP treatment (68 g) were lower than that of control. The highest biological efficiency (BE) was shown in CC treatment as 80.1%, which was 11.4% higher than 68.7% of control. The SMS of CC treatment had a relatively low content of neutral detergent fiber and acid detergent fiber, and in particular, lignin content was the lowest and crude protein content was the highest among other treatments. Therefore, CC as a substitute material for sawdust was capable of stable mushroom production and excellent nutritional value as a feed for its by-products.