• Title/Summary/Keyword: Asymmetric index

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The Effect of Managerial Ownership on Stock Price Crash Risk in Distribution and Service Industries

  • RYU, Haeyoung;CHAE, Soo-Joon
    • Journal of Distribution Science
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    • v.19 no.1
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    • pp.27-35
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    • 2021
  • Purpose: This study is to investigate the effect of managerial ownership level in distribution and service companies on the stock price crash. The managerial ownership level affects the firm's information disclosure policy. If managers conceal or withholds business-related unfavorable factors over a long period, the firm's stock price is likely to plummet. In a similar vein, management's equity affects information opacity, and information asymmetry affects stock price collapse. Research design, data, and methodology: A regression analysis is conducted using the data on companies listed on the Korea Composite Stock Price Index (KOSPI) between 2012-2017 to examine the effect of the managerial ownership level on stock price crash risks. Results: Logistic and regression results indicate that the stock price crash risk was reduced as managerial ownership levels are increased. The managerial ownership level has a significant negative coefficient on stock price crash risk, negative conditional return skewness of firm-specific weekly return distribution, and asymmetric volatility between positive and negative price-to-earnings ratios. Conclusions: As the ownership and management align, the likeliness of withholding business-related information is reduced. This study's results imply that the stock price crash risk reduces as the managerial ownership level increases because shareholder and manager interests coincide, thereby reducing information asymmetry.

A Study on the Loss Cost of Delayed Weaponization of Weapons System (무기체계 전력화 지연이 미치는 손실비용에 대한 연구)

  • Juhong Park;Myoungjin Choi
    • Journal of Korean Society of Industrial and Systems Engineering
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    • v.46 no.4
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    • pp.321-330
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    • 2023
  • The Korean military has sought to build an all-round military force against the national and international security environment and future asymmetric threats as well as the military threats it faces. However, while raising the need for timely electrification, there are few cases of quantitatively evaluating the loss when electrification is delayed, making it difficult for our military to provide a logical basis to support the importance of the electrification period. Therefore, through this study, we tried to analyze the index of loss cost that can support the need for timely electrification with logical and quantitative data and present it as a logical basis. To this end, the loss cost was calculated in terms of combat efficiency, equipment utilization rate, and maintenance requirements, which can be quantitatively calculated based on "combat readiness," a general impact on the military in case of delayed timely electrification.

A study on the correlations between facial biotype, submentovertex cephalometric measurements and surface EMG activity in patients with facial asymmetry (안면 비대칭 환자의 수직 안모 유형과 이하두정 두부방사선 규격사진 계측치 및 표면 근전도의 상관성에 대한 연구)

  • Kim, Seong-Soo;Lee, Nam-Ki;Cha, Bong-Kuen
    • The korean journal of orthodontics
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    • v.36 no.3 s.116
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    • pp.218-227
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    • 2006
  • Although the submentovertex radiograph and surface EMG are not often used due to the difficulty of interpretation, they are accepted as useful diagnostic and analytic aids for skeletal asymmetry. There have been reports which state that they were also useful for the evaluation of vertical skeletal relations. The purpose of this study was to evaluate the correlations between EMG data, measurements from submentovertex radiographs, facial types and facial asymmetry following examination of 60 asymmetric patients. The radiographic corpus length were greater in the nonaffected sides (p<0.001), gonion to interspinosum axis were greater in the affected sides and the mandibular condyle and gonion were located more anteriorly in the non-affected sides than in the affected sides but not significant (p=0.07). The activity of the anterior temporal muscle in rest position was higher in the affected sides than in the non-affected sides (p<0.01). The activity of the masseter muscle at maximum clenching was found to be nonsignificant but it was higher in the affected sides than in the non-affected sides (p=0.09). There was positive correlation between facial index and the intercondylar axes angle (p<0.01). There was positive correlation between masseter muscle activity in maximum occlusion and facial index in the affected and non-affected sides (p<0.05). The results demonstrate that the submentovertex radiograph and EMG can provide useful information for the evaluation of horizontal and vertical skeletal relations.

Enzymatic Interesterification and Melting Characteristic for Asymmetric 1,2-Distearoyl-3-Oleoyl-rac-Glycerol Triacylglycerol Enriched Product (효소적 반응을 이용한 비대칭형 1,2-Distearoyl-3-Oleoyl-rac-Glycerol 혼합물의 생성 및 융점 특성)

  • Kim, Jin Young;Lee, Ki Teak
    • Journal of the Korean Society of Food Science and Nutrition
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    • v.43 no.1
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    • pp.93-101
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    • 2014
  • Asymmetric 1,2-distearoyl-3-oleoyl-rac-glycerol (SSO) triacylglycerol (TAG) is used as a cocoa butter replacer (CBR). In this study, it was produced by lipase-catalyzed interesterification of fully hydrogenated soybean oil (FHSBO) and oleic ethyl ester (OEE) in a batch type reactor at $75^{\circ}C$, 250 rpm. Different molar ratios (FHSBO : OEE=1:1, 1:2 and 1:3, w/w) and various reaction times (1, 2, 3, 4, and 5 hr) were also tested. The optimized condition for SSO was a FHSBO : OEE molar ratio of =1:1 at reaction times of 2, 3, 4, and 5 hr. Enzymatic synthesis generated SSO/SOS, as well as the other TAGs (e.g., PSO/POS, SOO/OSO, SSS), ethyl esters, monoacylglycerol (MAG), and diacylglycerol (DAG). After scale-up, fractionation by solvent (methanol and acetone) fractionation and column chromatography was applied. To reduce ethyl esters, high-melting TAGs (e.g., SSS), and SOO/OSO in reactants, solvent fractionation was applied. Using a silica gel column (sample : silica gel=2:1, wt%), MAG and DAG were removed at $25^{\circ}C$. The major fatty acid composition of the final products (with a high SSO/SOS content) was palmitic acid (C16:0, 10.9~12.9 area%), stearic acid (C18:0, 52.2~54.9 area%), and oleic acid (C18:1, 34.2~35.5 area%). In reversed-phase HPLC analysis, the major TAG species of the final product (FHSBO : OEE=1:1, 2 hr) were SSO/SOS (82.31 area%) and PSO/POS (14.51 area%). Based on the $[SS]^+$ : $[SO]^+$ ratio obtained by RP-HPLC/APCI-MS, the final product had a higher SSO (AAB type TAG) content than cocoa butter (CB). The solid fat index (SFI) of CB and the final product obtained were similar with a narrow melting point range around ~32 to $35^{\circ}C$.

Sleep Architecture and Physiological Characteristics of Obstructive Sleep Apnea in Split-Night Analysis (수면분할 분석으로 본 수면무호흡증의 수면구조와 생리적 특징)

  • Kim, Eui-Joong
    • Sleep Medicine and Psychophysiology
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    • v.13 no.2
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    • pp.45-51
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    • 2006
  • Obstructive sleep apnea (OSA) syndrome disrupts normal sleep. However, there were few studies to evaluate the asymmetric distribution, the one of the important factors of normal sleep in OSA subjects. We hypothesized that asymmetry would be broken in OSA patients. 49 male subjects with the complaint of heavy snoring were studied with polysomnography. We divided them into two groups based on the apnea-hypopnea index (AHI) fifteen: 13 simple snoring group (SSN, average AHI $5.9{\pm}4.4$) and 32 OSA group (average AHI $47.3{\pm}23.9$). We compared split sleep variables between the first half and the second half of sleep within each group with paired t-test for the evaluation of asymmetry. Changes of sleep architecture of OSA were higher stage 1 sleep% (S1), total arousal index (TAI), AHI, and mean heart rate (HR) and lower stage 2 sleep% (S2), REM sleep%, and mean arterial O2 saturation (SaO2) than SSN subjects. SWS and wake time after sleep onset (WASO) were not different between two groups. In split-night analysis, OSA subjects showed higher S2, slow wave sleep% (SWS), spontaneous arousal index (SAI), and mean HR in the first half, and higher REM sleep% and mean SaO2 in the second half. Those were same pattern as in SSN subjects. Mean apnea duration and longest apnea duration were higher in the second half only in the OSA. No differences of AHI, ODI, WASO, and S1 were found between the first and the second half of sleep in both groups. TAI was higher in the first half only in the SSN. SWS and WASO seemed to be influenced sensitively by simple snoring as well as OSA. Unlike our hypothesis, asymmetric distributions of major sleep architecture variables were preserved in OSA group. Losing asymmetry of TAI might be related to pathophysiology of OSA. We need more studies that include large number of subjects in the future.

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Temperature Effect on the Optical Properties of YAG and Silicate Phosphor-based White Light Emitting Diodes (온도 변화에 따른 YAG 및 Silicate형광체 기반 백색 LED의 광특성 변화에 대한 연구)

  • Choi, Hyun-Woo;Ko, Jae-Hyeon
    • Korean Journal of Optics and Photonics
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    • v.24 no.3
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    • pp.135-142
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    • 2013
  • Two white light emitting diodes(LEDs) were fabricated by using two kinds of yellow phosphor, YAG:Ce and $(Sr,Ba)_2SiO4:Eu$, and their spectroscopic properties were analyzed as a function of temperature from room temperature to $80^{\circ}C$. The asymmetric double sigmoidal function was applied to both blue and yellow peaks of the emitting spectrum to obtain the center wavelength, the amplitude, the half width, and the skewness parameters. According to this analysis, the center wavelength of the blue peak shifted to longer wavelength while that of the yellow peak shifted to shorter wavelength. In addition, some of the skewness parameters were found to increase upon heating, which indicates that spectrum asymmetry becomes enhanced at higher temperatures. The changes in the color coordinates and the luminous efficacy were larger for the case of silicate-based white LED. These results suggest that the silicate-based white LED is inferior to the YAG-based white LED from the viewpoint of color stability, efficacy and color rendering index.

Comparison of Hydrolysis from In Vitro Digestion Using Symmetric and Asymmetric Triacylglycerol Compounds by Enzymatic Interesterification (효소적으로 합성된 대칭형과 비대칭형 Triacylglycerol 혼합물의 In Vitro Digestion에서의 소화율 비교)

  • Woo, Jeong Min;Lee, Ki Teak
    • Journal of the Korean Society of Food Science and Nutrition
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    • v.43 no.6
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    • pp.842-853
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    • 2014
  • For developing indigestible lipids, symmetric triacylglycerol (ST) and asymmetric triacylglycerol (AT) were produced by enzymatic interesterification using high oleic sunflower oil, palmitic ethyl ester, and stearic ethyl ester in a shaking water bath. Used enzymes were Lipozyme RMIM for ST and Lipozyme TLIM for AT. To remove ethyl ester from reactants, methanol fractionation (reactant : methanol=1:5, w/v, $25^{\circ}C$) and florisil separation (reactant : florisil=1:8, w/w) were applied. Acetone fractionation (reactant : acetone=1:9, w/v) was implemented to separate triacylglcerol (TAG) species into ST and AT. Fractions I (before fractionation), II (after fractionation, liquid phase) and III (after fractionation, solid phase) were separated from ST, whereas fractions IV (after 1st fractionation, liquid phase) and V (after 2nd fractionation, solid phase) were from AT. From sn-2 fatty acid composition analysis, the sum of palmitic acid (C16:0) and stearic acid (C18:0) was 4.9~6.5 area% in ST (I, II, III), and 41.9~43.9 area% in AT (IV, V). In vitro digestion was performed for 0, 15, 30, 60, and 120 minutes at $37^{\circ}C$ in a shaking water bath. For the digestion results, hydrolysis of V was only 40% compared to others (I, II, III, IV) at 120 minutes due to its melting point ($49^{\circ}C$). However, initially (15 minutes), hydrolysis (%) was as follows: V$32.5^{\circ}C$, $31.8^{\circ}C$) and different slip melting points ($31.3^{\circ}C$, $19.5^{\circ}C$). Even though IV has a lower TAG content composed of two saturated fatty acids than III, it had a similar melting point.

The Effect of Business Strategy on Cost Asymmetry according to Corporate Life Cycle (기업수명주기에 따라 경영전략이 원가비대칭성에 미치는 영향)

  • Hong, Nan-Hee
    • Journal of Digital Convergence
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    • v.18 no.5
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    • pp.145-155
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    • 2020
  • The purpose of this study investigates the relationship between business strategy and cost behavior according to the corporate life cycle. To do so, I first examine the relationship between cost behavior and business strategy. And then, I analyze the effect of the business strategy on cost behavior conditional upon corporate life cycle based on listed Korean firms from 2000 to 2019. Specifically, the business strategy index is calculated by using the six continuous financial factors and the Prospector and Defender was defined on the score. Also, the corporate life cycle is distinguished based on the cash flow pattern. I find the evidence that the Prospector firms are likely to strengthen the asymmetry of cost behavior (cost stickiness), and examined that such a relationship was most strongly represented in the Introduction. This study is meaningful in that this is a more comprehensive analysis by examining business strategy and cost strategy according to the corporate life cycle and expand the application of financial information by using financial indicators to distinguish business strategies.

Prevalent Signs and Symptoms in Patients with Skin Cancer and Nursing Diagnoses

  • Lisboa, Isabel Neves Duarte;de Azevedo Macena, Monica Suela;da Conceicao Dias Fernandes, Maria Isabel;de Almeida Medeiros, Ana Beatriz;de Lima, Cyndi Fernandes;de Carvalho Lira, Ana Luisa Brandao
    • Asian Pacific Journal of Cancer Prevention
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    • v.17 no.7
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    • pp.3207-3211
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    • 2016
  • Background: Skin cancer has a remarkable importance given the high incidence in the population. In Brazil, it is estimated that there were 98,420 new cases of non-melanoma skin cancer among men and 83,710 new cases among women in 2014. Objectives: To verify signs and symptoms present in patients with skin neoplasms according to the literature and relate them to the nursing diagnoses of NANDA International. Materials and Methods: Integrative literature review carried out from March to May 2015 in the databases: Cumulative Index to Nursing and Allied Health Literature, SCOPUS, National Library of Medicine and Nattional Institutes of Health, Latin American and Caribbean Sciences of Health and Web of Science. The descriptors used were: 'Signs and Symptoms' and 'Skin Neoplasms'. Sixteen articles were identified as the final sample. After review, the signs and symptoms of skin cancer identified in the literature were related to the defining characteristics present in NANDA International, with the aim to trace possible nursing diagnoses. Results: The most prevalent signs and symptoms were: asymmetric and well circumscribed nodules with irregular borders; speckles with modified color aspect; ulcerations; blisters; pain; itching; and bleeding. The principal nursing diagnoses outlined were: risk for impaired skin integrity; impaired skin integrity; acute pain; risk of shock; and impaired comfort. Conclusions: The identification of signs and symptoms present in patients with skin cancer and the relationships of these with the nursing diagnoses of NANDA International provide a basis for qualified and systematized nursing care to this clientele.

Properties of GaN Film Grown on AlN/PSS Template by Hydride Vapor Phase Epitaxy (AlN/PSS Template 위에 HVPE로 성장한 GaN 막의 특성)

  • Son, Hoki;Lee, YoungJin;Lee, Mijai;Kim, Jin-Ho;Jeon, Dae-Woo;Hwang, Jonghee;Lee, Hae-Yong
    • Journal of the Korean Institute of Electrical and Electronic Material Engineers
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    • v.29 no.6
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    • pp.348-352
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    • 2016
  • In this paper, GaN film was grown on AlN/PSS by hydride vapor phase epitaxy compared with GaN on planar sapphire. Thin AlN layer for buffer layer was deposited on patterned sapphire substrate (PSS) by metal organic chemical vapor deposition. Surface roughness of GaN/AlN on PSS was remarkably decreased from 28.31 to 5.53 nm. Transmittance of GaN/AlN grown on PSS was lower than that of planar sapphire at entire range. XRD spectra of GaN/AlN grown on PSS corresponded the wurzite structure and c-axis oriented. The full width at half maximum (FWHM) values of ${\omega}$-scan X-ray rocking curve (XRC) for GaN/AlN grown on PSS were 196 and 208 arcsec for symmetric (0 0 2) and asymmetric (1 0 2), respectively. FWHM of GaN on AlN/PSS was improved more than 50% because of lateral overgrowth and AlN buffer effect.