• Journal of Environmental Science International
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• v.31 no.12
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• pp.1117-1126
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• 2022

This study analyzed the effect of Corporate Social Responsibility and ESG (Environmental, Social and Governance) score on information asymmetry from the perspective of investors, who are important stakeholders of the company. For KOSPI-listed companies from 2017 to 2020, the effect of ESG overall score and each item score (E, S, G) on the bid-ask spread, which is a proxy for information asymmetry, was confirmed. The results are as follows. First, the increase in corporate CSR activities resulted in lowering information asymmetry of investors. It was found that the higher the ESG score, an indicator of CSR activity, the lower the bid-ask spread, which is a proxy variable for information asymmetry. Second, as a result of analysis using ESG scores for each section, information asymmetry decreased as companies with higher scores in the environmental (E) and social (S) aspects, while the governance (G) score did not have a statistically significant effect. The analysis confirmed that corporate CSR activities can contribute to improving market efficiency by resolving information asymmetry of investors and convergence of the stock market into a state of equilibrium. This means that the company's CSR activities are reflected in the investment decision-making, which suggests that the company should consider the investor as a stakeholder in decision-making related to CSR activities.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.11
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• pp.853-866
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• 2020

The purposes of this research were: 1) to investigate the effect of participatory management on financial information asymmetry, 2) to investigate the effect of corporate governance on financial information asymmetry, 3) to examine the influences of benefits incentives on financial information asymmetry, and 4) to test the mediating effects of benefits incentive that influences the relationship between participatory management, corporate governance, and financial information asymmetry. The research sample consisted of 388 Thai-listed firms. Data were collected through a survey questionnaire. Descriptive analysis, Multiple Regression Analysis, and Structural Equation Modeling were used for the data analysis. The results revealed: 1) participatory management and participation in evaluation had a negative influence on financial information asymmetry. 2) Corporate governance and the rights of shareholders had a negative influence on financial information asymmetry. 3) Benefits incentive was negatively associated with financial information asymmetry. 4) The model's influences of participatory management, corporate governance on the reduction of financial information asymmetry through benefits incentive as mediator fit the empirical data (Chi-square = 104.459, df = 84, p = 0.065, GFI = 0.967, RMSEA = 0.025). The variables in the model explained 78.00% and 4.70 % of the variance of benefits incentive and financial information asymmetry, respectively.

• Journal of Oral Medicine and Pain
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• v.39 no.3
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• pp.100-106
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• 2014

Purpose: This study was performed to investigate the relationship between temporomandibular disorders (TMDs) and the asymmetry of the mandibular height. Methods: We compared 100 randomly selected TMD patients diagnosed by the research diagnostic criteria for TMD (RDC/TMD) Axis I with 100 non-TMD control subjects matched with the TMD patients in age and gender. The mandibular heights were measured on an orthopantomogram and the asymmetry index (AI) was calculated as previously described. Results: The absolute AI value of 4.37% turned out to be the least cut-off value defining asymmetry, which showed a significant difference in asymmetry incidence (p<0.01) between the TMD and control groups. The risk of TMD increased in the asymmetry group by 4.57 (odds ratio). The incidence of asymmetry was not related to age and gender in both of the TMD and control groups. When dividing the TMD group according to the RDC/TMD Axis I diagnosis, neither the incidence of muscle disorder nor disk displacement was related to the incidence of asymmetry. However, a higher incidence of asymmetry was observed in the subjects classified into the arthrosis/arthritis groups (p<0.01). Conclusions: Although it does not imply a direct cause-and-effect relationship, asymmetry resulting in more than 4.37% difference between mandibular heights may increase the risk of TMD and correlates positively to the incidence of arthritic change in the temporomandibular joint of TMD patients.

• The Journal of Korean Medicine
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• v.40 no.3
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• pp.198-223
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• 2019

Objectives: The purpose of this study was to investigate the effect of Korean medicine treatment on facial asymmetric treatment in 5 cases of facial asymmetry correction by non - surgical treatment such as acupucture, chuna treatment, FCST (Functional cerebrospinal technique) and cranial osteopathy. Methods: We analyzed the initial charts of 5 patients who had undergone facial asymmetry in a Korean medicine clinic and measured the position and distance using the photograph, lateral cephalograms, and whole body radiograms. The results were as follows. Results: To quantify both soft and hard tissues to confirm the results of Korean medicine treatment of facial asymmetry, soft tissues quantitatively measure the displacement of the face, the slope of the left and right eyes, and the slope of the lip in order to grasp the positional displacement of the mandible. As a result, on the average, the correction effect as measured by the angle difference between A and C is $1.8{\pm}0.57$, the correction effect as measured by the angle difference between B and C is $1.4{\pm}0.89$, and the angle difference between D and the horizontal plane is $1.9{\pm}0.89$, and the angle difference between E and the horizontal plane is $1.9{\pm}0.89$. The result of reduced angle difference between A and C means that the head position shifted from the center of the body to the unilateral side was shifted to the center. The decrease in the angle difference between B and C means the restoration of the maxillary distortion relative to the mandible. In hard tissues, numerical values were measured based on the skull standard. The average distortion of the skull was $1.9{\pm}0.67$, and the distortion of the lower eye was $1.4{\pm}0.41$. Conclusion: General studies on facial asymmetric treatment are limited to treatments such as surgery and orthodontics. However, this study confirmed the possibility that facial asymmetry could be corrected by Korean medical treatment consisting of reversible non-surgical treatment rather than irreversible treatment such as surgery or orthodontic treatment. In particular, Korean medicine treatment is effective for muscular asymmetry, soft asymmetry, functional asymmetry, etc. The facial asymmetric treatment of Korean medicine is not limited to the face-centered correction, but the asymmetry of the whole body may be corrected as well.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.12
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• pp.1185-1194
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• 2020

This study aims to test Voluntary Disclosure, Quality of Financial Reporting and Information Asymmetry as Moderation Variables. The Voluntary Disclosure variable is calculated using the Index Disclosure. This research uses quantitative methods and uses partial least square with EViews data analysis. The research sample consisted of 225 manufacturing companies listed on the Indonesian stock exchange for the period 2016-2018. The results of the study state that voluntary disclosure has a positive and significant effect on the quality of financial reporting through asymmetric information. The relationship between voluntary disclosure and asymmetric information has a negative effect on the quality of financial reporting, states that the disclosure of voluntary reports to companies can prevent information asymmetry, as well as the relationship of voluntary disclosure to information asymmetry states that companies that make voluntary disclosure will increase the interest of investors and other stakeholders. The quality of financial reporting states that if there is information asymmetry, the quality of financial reporting will also decline. The low value of relevance will affect the level of large or small information gaps between management and investors. The quality of financial reporting with increased relevance means that asymmetric information will have a negative impact on financial reporting.

• Transactions of Materials Processing
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• v.21 no.5
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• pp.285-290
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• 2012

In spite of progress in predicting ductile failure, the development of a macroscopic yield criterion to describe damage evolution in HCP (hexagonal close-packed) materials remains a challenge. HCP materials display strength differential effects (i.e., different behavior in tension versus compression) in their plastic response due to twinning. Cazacu and Stewart(2009) developed an analytical yield criterion for porous material containing randomly distributed spherical voids in an isotropic, incompressible matrix that shows tension-compression asymmetry. The goal of the calculations in this paper is to investigate the effect of the tension-compression asymmetry on necking induced by void nucleation, evolution and consolidation. In order to investigate the effect of the tension-compression asymmetry of the matrix on necking and fracture initiation, three isotropic materials A, B, and C were examined with different ratios of tension-compression asymmetry. The various types of material had BCC, FCC, and HCP crystal structures, respectively. The ratio between tension and compression in plastic flow significantly influences the fracture shape produced by damage propagation as well as affecting the localized neck.

• Asia-Pacific Journal of Business
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• v.14 no.1
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• pp.351-364
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• 2023

Purpose - This study examines the effects of Dubai oil price and the volatility on the asymmetry of domestic gasoline price adjustment. Additionally, the study investigates the effects of "Altteul" gas-station and tax-cut policies on asymmetry. Design/methodology/approach - Firstly, the study calculates proxies for asymmetry and volatility of each window(every 3-month) by error-correction model and GARCH(1, 1) using daily domestic gas price and Dubai oil price from 2008/04/15 to 2022/12/31. Secondly, the study investigates the effects of the increasing rate of Dubai oil price, volatility, "Altteul" gas-station and tax-cut policies on asymmetry. The autoregressive distributed lag regression model is employed for estimations. Findings - The study finds that changes in the increasing rate of Dubai oil price and both types of volatility of Dubai oil price increase asymmetry. While "Altteul" gas-station and tax-cut policies decrease asymmetry. Additionally, the study fails to find that asymmetry in the Korean gasoline market in the estimation with total observations. Research implications or Originality - An increase in Dubai oil price volatility means an increase in cost uncertainty for gas-station owners. Since cost uncertainty is a kind of financial risk, the increase in volatility reinforces the asymmetry. The study provides supporting evidence for the idea.

• Journal of the Korean Society of Physical Medicine
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• v.5 no.3
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• pp.385-394
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• 2010

Purpose : The present study was to examine the difference and severity of asymmetry in independently ambulating stroke survivors and to establish the association between gait asymmetry, velocity, and the motor function of lower extremity. Methods : The subjects used in this study were 43 subjects with hemiparesis being able to walk independently. Motor function of lower extremity was measured clinically with the Fugl Meyer-Lower /Extremity Assessment. Overground gait velocity and spatia-temporal parameters were collected by the GAITRite system. Results : Thirty(69.77%) patients showed statistically significant temporal asymmetry while 28(65.1%) exhibited statistically significant spatial asymmetry. One-way ANOVA results showed a main effect of temporal asymmetry group(normative, mild, severe) for gait velocity(F=74.129), FM-L/E(F=17.270), swing-stance symmetry(F=66.869, F=13.485, respectively), spatio-temporal asymmetry(F=13.166, F=31.800, respectively) 66, F=31.800, respectively). Gait velocity was negatively associated with temporal asymmetry(r=-.83), spatial asymmetry(r=-.60). Motor function of lower extremity was also associated with temporal asymmetry(r=-.58), and spatial asymmetry(r=-.50). Conclusion : The study attempted to establish the standard assessment of hemiparesis gait symmetry in light of the complex relationship with motor impairment and gait velocity. More future work will need to link the degree of gait asymmetry to clinically relevant outcomes to better establish the clinical significance of such observations.

• The Korean Journal of Financial Management
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• v.26 no.3
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• pp.65-101
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• 2009

The effects of program trading halts system (sidecar) on information asymmetry of program trading stocks, index arbitrage stocks, and non-index arbitrage stocks in the Korean stock market are examined. Effective spread and number of program trade of each stock are used as proxy variables for information asymmetry. The main results are as follows; Firstly, we find that effective spreads of program trading stocks in the post-halt period decrease significantly following the halt period. This means that sidecar has the effect of reducing information asymmetry in the Korean stock market. Secondly, the mitigation effect of information asymmetry of program trading stocks works only in buy-program trading stocks, but not in sell-program trading stocks. Thirdly, the results show that there are no distinct differences for index arbitrage group and non-index arbitrage group surrounding the sidecar events. In other words, program trading halts system has a mitigating effect of information asymmetry in not only index arbitrage trading stocks but also non-index arbitrage stocks. Fourthly, this mitigation effect works only in buy-sample not in sell-sample like in program trading stocks. And lastly, the analyses result of number of program trade shows that number of program trade of almost of sample stocks increases after the sidecar events. This implies that the information asymmetry is not fully resolved during the halt period and the effect of news inducing sidecar is continuing after the event.

• Transactions of Materials Processing
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• v.16 no.4 s.94
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• pp.234-238
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• 2007

Magnesium alloy sheets in room temperature have unusual mechanical properties such as high in-plane anisotropy/asymmetry of yield stress and hardening behavior. In this paper, the continuum plasticity models considering the plastic behavior of AZ31B Mg alloy sheet were derived. A new hardening law based on modified two-surface model was developed to consider the general stress-strain response of metals including Bauschinger effect, transient behavior and the unusual asymmetry. Three deformation modes observed during the continuous tension/compression tests were mathematically formulated with simplified relations between the state of deformation and their histories. To include the anisotropy and asymmetry of the initial yield stress, the Drucker-Prager's pressure dependent yield surface was modified by adding anisotropic constants.