• Title/Summary/Keyword: Adjusted Three-Factor

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A New Measure of Asset Pricing: Friction-Adjusted Three-Factor Model

  • NURHAYATI, Immas;ENDRI, Endri
    • The Journal of Asian Finance, Economics and Business
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    • v.7 no.12
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    • pp.605-613
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    • 2020
  • In unfrictionless markets, one measure of asset pricing is its height of friction. This study develops a three-factor model by loosening the assumptions about stocks without friction, without risk, and perfectly liquid. Friction is used as an indicator of transaction costs to be included in the model as a variable that will reduce individual profits. This approach is used to estimate return, beta and other variable for firms listed on the Indonesian Stock Exchange (IDX). To test the efficacy of friction-adjusted three-factor model, we use intraday data from July 2016 to October 2018. The sample includes all listed firms; intraday data chosen purposively from regular market are sorted by capitalization, which represents each tick size from the biggest to smallest. We run 3,065,835 intraday data of asking price, bid price, and trading price to get proportional quoted half-spread and proportional effective half-spread. We find evidence of adjusted friction on the three-factor model. High/low trading friction will cause a significant/insignificant return difference before and after adjustment. The difference in average beta that reflects market risk is able to explain the existence of trading friction, while the difference between SMB and HML in all observation periods cannot explain returns and the existence of trading friction.

Spatial Distribution of Diabetes Prevalence Rates and Its Relationship with the Regional Characteristics (당뇨병 유병률의 지역 간 변이와 지역 특성과의 관계 분석)

  • Jo, Eun-Kyung;Seo, Eun-Won;Lee, Kwang-Soo
    • Health Policy and Management
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    • v.26 no.1
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    • pp.30-38
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    • 2016
  • Background: This study purposed to analyze the relationship between spatial distribution of Diabetes prevalence rates and regional variables. Methods: The unit of analysis was administrative districts of city gun gu. Dependent variable was the age- and sex- adjusted diabetes prevalence rates and regional variables were selected to represent three aspects: demographic and socioeconomic factor, health and medical factor, and physical environment factor. Along with the traditional ordinary least square (OLS) regression analysis, geographically weighted regression (GWR) was applied for the spatial analysis. Results: Analysis results showed that age- and sex-adjusted diabetes prevalence rates were varied depending on regions. OLS regression showed that diabetes prevalence rates had significant relationships with percent of population over age 65 and financial independence rate. In GWR, the effects of regional variables were not consistent. These results provide information to health policy makers. Conclusion: Regional characteristics should be considered in allocating health resources and developing health related programs for the regional disease management.

Remaining life prediction of concrete structural components accounting for tension softening and size effects under fatigue loading

  • Murthy, A. Rama Chandra;Palani, G.S.;Iyer, Nagesh R.
    • Structural Engineering and Mechanics
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    • v.32 no.3
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    • pp.459-475
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    • 2009
  • This paper presents analytical methodologies for remaining life prediction of plain concrete structural components considering tension softening and size effects. Non-linear fracture mechanics principles (NLFM) have been used for crack growth analysis and remaining life prediction. Various tension softening models such as linear, bi-linear, tri-linear, exponential and power curve have been presented with appropriate expressions. Size effect has been accounted for by modifying the Paris law, leading to a size adjusted Paris law, which gives crack length increment per cycle as a power function of the amplitude of a size adjusted stress intensity factor (SIF). Details of tension softening effects and size effect in the computation of SIF and remaining life prediction have been presented. Numerical studies have been conducted on three point bending concrete beams under constant amplitude loading. The predicted remaining life values with the combination of tension softening & size effects are in close agreement with the corresponding experimental values available in the literature for all the tension softening models.

A Study on Purchasing Variables in the Consumption Group of Environmentally Friendly Agricultural Material in Busan (친환경 식재료 구매 집단의 식품 구매 고려 변수 비교 연구 - 부산 지역 거주 여성 소비자를 대상으로 -)

  • Seo, Kyung-Mi;Jeon, So-Hyun
    • Culinary science and hospitality research
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    • v.14 no.1
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    • pp.73-83
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    • 2008
  • The purpose of this study was to investigate purchasing variables in the organic food consumption level in Busan. To achieve this purpose, 240 residential women who are organic food consumers were chosen. Among them, 149 women took part in the study. The questionnaire was composed of three parts: 8 demographic characteristics, 9 organic food purchasing conditions, and 22 purchasing variables. The research was continued from August 20th until September 10th, 2007. To derive the results, descriptive analysis, factor analysis, and ANOVA were used by spss 14.0. To sum up the results, three organic food consumption groups were classified into high, middle, and low consumption levels depending on buying condition for organic material. For the factor analysis, 5 factors were named as confidence, quality, safety, appearance, and economy. On the high consumption level, economy factor was highly important than other groups. In general, price would be a more sensitive factor, so they answered the adjusted price range; 52 participants said under 10%, 22 between 11% and 20%, and 17 over 40%.

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Control and Modulation of Three to Asymmetrical Six-Phase Matrix Converters based on Space Vectors

  • Al-Hitmi, Mohammed A.;Rahman, Khaliqur;Iqbal, Atif;Al-Emadi, Nasser
    • Journal of Power Electronics
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    • v.19 no.2
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    • pp.475-486
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    • 2019
  • This paper proposes the modulation and control of a three-to-six-phase matrix converter with an asymmetrical six-phase output. The matrix converter (MC) outputs consist of two sets of three-phase spatially shifted by $30^0$, where the two sets have two isolated neutrals. The space vector approach is considered for the modeling and subsequent modulation of the three-to-six phase MC. The intelligent selection of voltage space vectors is made to synthesize the reference voltages and to obtain a sinusoidal output. The dwell times of selected voltage space vectors are adjusted in such a way that the effect of the second and the third auxiliary plane vectors (i.e., x1-y1, and x2-y2) are nullified. To achieve the maximum output voltage gain and to ensure that no reactive power is drawn from the utility supply, the input side power factor is maintained at unity. Nevertheless, the source side power factor is controllable. The modulation technique is implemented in dSPACE working in conjunction with a FPGA. Hardware results that validate the proposed control algorithm are discussed.

Dietary patterns of children and adolescents analyzed from 2001 Korea National Health and Nutrition Survey

  • Lee, Joung-Won;Hwang, Ji-Young;Cho, Han-Sok
    • Nutrition Research and Practice
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    • v.1 no.2
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    • pp.84-88
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    • 2007
  • The purpose of this study was to identify dietary patterns among children and adolescents in Korea and to examine their associations with obesity and some blood profiles. One day food consumption data measured by 24-hour recalls on 2704 subjects aged 1 to 19 were used from 2001 Korea National Health and Nutrition Survey. The data of blood profiles available in the ages of 10 or older was also used. After categorizing each food consumed into 29 food or food groups, five dietary patterns were derived through a factor analysis and subjects were classified into three major dietary patterns via a cluster analysis using the factor scores. Three dietary patterns were identified as 'traditional diet' (25.6%), 'westernized-fast food' (6.2%), and 'mixed diet' (68.2%). The 'traditional diet' pattern had a higher percentage in boys. Both the 'traditional diet' and the 'westernized-fast food' had higher proportions of adolescents (12-19 y) than younger children, while the 'mixed diet' had a higher percentage of preschool children (1-5 y). Obesity rate analyzed within each age group showed no differences among 3 dietary pattern clusters. Blood pressure and all plasma profiles were not different among dietary patterns when adjusted with age and gender. Conclusively, children and adolescents in Korea had three distinct dietary patterns, which were associated with gender and age. These patterns could be useful to plan nutrition interventions for teenager health promotion.

A study on Three-Phase AC-DC Boost Converter using A Soft-Switching for discontinuous Mode (소프트 스윗치를 이용한 불연속 모드 3상 AC-DC 부스터 컨버터에 관한 연구)

  • Chun, J.H.;Kwak, D.G.;Kim, C.S.;Suh, K.Y.;Kwon, S.K.;Lee, H.W.
    • Proceedings of the KIEE Conference
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    • 1995.07a
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    • pp.188-190
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    • 1995
  • This paper describes a soft switching using discontinuous inductor current. The soft switching snubber circuit provides ZCS and ZVS for main switch. For high power applications, the input ractifier is fed from a three-phase ac source. The Conventional switching method is hard switching technics, because of the device turn off is ocurred in maximum reactor current. In this time, switching losses are maximised by the hard switching. In generally, soft switching technique has been adjusted with the snubber condenser in order to compensates for this losses. So, it was compared hard switching with soft switching which has proposed in this paper for switching losses, distortion factor by the simulation.

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Basic research for Health Monitoring Technique with PZT Patches (압전소자를 이용한 손상계측기술에 관한 기초연구)

  • Ha, Nam;Chae, Kwan-Suk;Hong, Dong-Pyo;Chae, Hee-Chang
    • Proceedings of the Korean Society for Noise and Vibration Engineering Conference
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    • 2004.11a
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    • pp.870-874
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    • 2004
  • This work presents a study on development of a practical and quantitative technique for assessment of the structural health condition by Piezoelectric impedance-based technique associated with longitudinal wave propagation method. The bolt fastening condition is adjusted by torque wrench. In order to estimate the damage condition numerically, three damage indices, impedance peak frequency shift ${\Delta}F$, peak amplitude ratio $\delta$ and quality factor ratio $\gamma$, are proposed in this paper. Furthermore, an assessment method is described for estimation of the damage by using these three damage indices.

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Smoking-cessation Model for Male Patients with Coronary Heart Disease (남성 관상동맥질환자의 금연모형 구축)

  • Kim, Eun-Kyung
    • The Journal of Korean Academic Society of Nursing Education
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    • v.8 no.1
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    • pp.61-71
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    • 2002
  • purpose : The purpose of this study was to find out the influencing factors of smoking-cessation behavior of patients with coronary heart disease and to suggest the model of smoking-cessation behavior which was based on the relationship between influencing factors and then to test its fitness empirically. method : This study was based on the Theory of Reasoned Action and a hypothetical model was constructed with fifteen paths in consideration of main predictive factors of smoking-cessation behavior such as biological factor, disease-related characteristics, self-efficacy, supportive factor, environmental factor, disease-related perception factor, intention-to-quit, and psychological factor. The validity of a smoking- cessation model was tested to 264 patients with coronary heart disease by using SPSS 8.0 and Window LISREL 8.12a. results : 1. Seven of the 15 paths of smoking-cessation behavior proved to be significant. 2. The final model excluded three paths in the hypothetical model was demonstrated to be improved by $x^2$=44.31 (df=38, p=.22), Goodness of Fit Index (GFI)=.98, Adjusted Goodness of Fit Index (AGFI)=.96, Non-Normed Fit Index(NNFI)=1.00, Normed Fit Index(NFI)=1.00, and Root Mean Square Residual(RMR)=.24. 3.The smoking-cessation behavior was influenced directly by biological factor, self-efficacy, supportive factor, environmental factor, intention-to-quit, and psychological factor. The smoking-cessation behavior was accounted for 82% of variance by these factors. conclusion : although the adolescents' smoking behavior can be predicted by only smoking intention, it is hard to predict the adults' smoking-cessation behavior by only this factor. Therefore, intention-to-quit, self-efficacy, supportive factor should be improved because these are promotive factors for smoking-cessation behavior. Biological factor, environmental factor, and psychological factor are inhibitive factors, so nicotine replacement therapy is helpful to the high nicotine-dependents, and ex-smokers avoid other smokers in their environment and also patients should learn and practice the stress coping-skills.

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A study on the Flood Frequency Analyzed in Consideration of Low Outliers. (Low Outliers를 고려한 홍수빈도분석에 관한 연구)

  • 이순혁;홍성표;박명근
    • Magazine of the Korean Society of Agricultural Engineers
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    • v.30 no.4
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    • pp.62-70
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    • 1988
  • This study was conducted to solve the problems for the unsuitable parameters and the uncertainty of design flood can be appeared by low outliers were inclined to the lower part from the trend of the balance of the data. Derivation of reasonable design flood was attempted finally by modification of low outliers with analysis of flood frequency by means of Log Pearson Type Ill distribution. Three subwatersheds were selected as studying basins with the annual maximum series including low outliers along Geum River basin. The results through this study were analyzed and summarized as follows. 1. Log Pearson Type In distribution was confirmed as a reasonable one by X$^2$ goodness of fit test at Gong Ju, Gyu Am, og Cheon watershed along Geum River basin. 2. Probable flood flows for each watershed were derivated by flood frequency curve with outliers. 3. Weighted skew coefficient for each watershed was calculated for the evaluation of freq- uency factor which is needed for the modification of low outlier. 4. It was confirrned that adjusted frequency curve has a lower tendency than that of deletion of low outlier in common at all watersheds. 5. Final probable flood flows were derivated by modification with evaluation of modified basic statistics for three watersheds. 6. In comparison with a frequency curve with modification and one with outlier, The former has a higher probable flood flow within three years of return periods than that of the latter, and vice versa over three years of return periods.

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