• 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.

• Korean Journal of Crystallography
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• v.14 no.1
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• pp.16-23
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• 2003

The electronic structure and chemical bonding of β-MnO₂ were theoretically investigated by DV-X/sub α/ (the discrete variation X/sub α/) method. which is a sort of the first principle molecular orbital method using Hatre-Fock-Slater approximation. The calculations on several cluster models having different sizes were carried out for the determination of a model suited for analyzing bulk state. The Mn/sub 15/O/sub 56/ model was selected as a sufficiently suitable model for the calculation of electronic state and chemical bonding by the comparison of the calculated XPS (X-ray photo-electron spectrum) and experimentally measured XPS. By using this model, the electron energy level, the density of state, the bond overlap population, the charge density distribution, and the net ionic transfer between cations and anions were calculated and discussed.

• Proceedings of the Korea Water Resources Association Conference
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• 2006.05a
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• pp.1661-1665
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• 2006

In a natural river, cross sections of a channel vary according to inner or outer parts of meandering. Generally, depth of outer parts is deeper than that of inner parts. This kind of cross section change by meandering can be demonstrated by Beta distribution. The objects of this research is a 3D simulation of primary and secondary flow in the meandering natural channel. FLOW-3D program, a numerical model using CFD technique, and LES method was used for this research. 3D simulations were conducted in the channels having Beta distribution cross sections which have beds of mortar, gravel and vegetation. Two types of water stages and discharge were applied to each channel. In this research, primary flows are located in the outer parts of a top of bend and secondary flows rotate in the bottom on outer parts.

• Journal of the Computational Structural Engineering Institute of Korea
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• v.28 no.4
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• pp.409-415
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• 2015

For the design of Concrete-Filled Steel Tube(CFST) columns, the outside diameter D to the steel tube thickness t ratio(D/t ratio) is limited to prevent the local buckling of steel tubes. Each design code proposes the respective model to compute the maximum D/t ratio using the yield strength of steel $f_y$ or $f_y$ and the elastic modulus of steel E. Considering the uncertainty in $f_y$ and E, the reliability index ${beta}$ for the local buckling of a CFST section can be calculated by formulating the limit state function including the maximum D/t models. The resulted ${beta}$ depends on the maximum D/t model used for the reliability analysis. This variability in reliability analysis is due to ambiguity in choosing computational models and it is called as "modelling uncertainty." This uncertainty can be considered as "non-specificity" of an epistemic uncertainty and modelled by constructing possibility distribution functions. In this study, three different computation models for the maximum D/t ratio are used to conduct reliability analyses for the local buckling of a CFST section and the reliability index ${beta}$ will be computed respectively. The "non-specific ${beta}s$" will be modelled by possibility distribution function and a metric, degree of confirmation, is measured from the possibility distribution function. It is shown that the degree of confirmation increases when ${beta}$ decreases. Conclusively, a new set of reliability indices associated with a degree of confirmation is determined and it is allowed to decide reliability index for the local buckling of a CFST section with an acceptable confirmation level.

• Industrial Engineering and Management Systems
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• v.10 no.3
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• pp.185-190
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• 2011

A driver interacts directly with the car seat at all times. There are ergonomic characteristics that have to be followed to produce comfortable seats. However, most of previous researches focused on either static or dynamic condition only. In addition, research on car seat development is critically lacking although Malaysia herself manufactures its own car. Hence, this paper integrates objective measurements and subjective evaluation to predict seat discomfort. The objective measurements consider both static and dynamic conditions. Steven's psychophysics power law has been used in which after expansion; ${\psi}\;=\;a+b{\varphi}_s^{\alpha}+c{\varphi}_v^{\beta}$ where ${\psi}$ is discomfort sensation, ${\varphi}_s^{\alpha}$ is static modality with exponent ${\alpha}$ and ${\varphi}_v^{\beta}$ is dynamic modality with exponent ${\beta}$. The subjects in this study were local and the cars used were Malaysian made compact car. Static objective measurement was the seat pressure distribution measurement. The experiment was carried out on the driver's seat in a real car with the engine turned off. Meanwhile, the dynamic objective measurement was carried out in a moving car on real roads. During pressure distribution and vibration transmissibility experiments, subjects were requested to evaluate their discomfort levels using vehicle seat discomfort survey questionnaire together with body map diagram. From subjective evaluations, seat pressure and vibration dose values exponent for static modality ${\alpha}$ = 1.51 and exponent for dynamic modality ${\beta}$ = 1.24 were produced. The curves produced from the $E_{q.s}$ showed better $R_{-sq}$ values (99%) when both static and dynamic modalities were considered together as compared to Eq. with single modality only (static or dynamic only R-Sq = 95%). In conclusion, car seat discomfort prediction gives better result when seat development considered both static and dynamic modalities; and using ergonomic approach.

• Journal of the Korean Ceramic Society
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• v.48 no.3
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• pp.236-240
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• 2011

In order to deposit a homogeneous and uniform ${\beta}$-SiC films by chemical vapor deposition, we demonstrated the phase stability of ${\beta}$-SiC over graphite and silicon via computational thermodynamic calculation considering pressure, temperature and gas composition as variables. The ${\beta}$-SiC predominant region over other solid phases like carbon and silicon was changed gradually and consistently with temperature and pressure. Practically these maps provide necessary conditions for homogeneous ${\beta}$-SiC deposition of single phase. With the thermodynamic analyses, the CVD apparatus for uniform coating was modeled and simulated with computational fluid dynamics to obtain temperature and flow distribution in the CVD chamber. It gave an inspiration for the uniform temperature distribution and low local flow velocity over the deposition chamber. These calculation and model simulation could provide milestones for improving the thickness uniformity and phase homogeneity.

• The Pure and Applied Mathematics
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• v.5 no.2
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• pp.123-132
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• 1998

Let F and G denote the distribution functions of the failure times and the censoring variables in a random censorship model. Susarla and Van Ryzin(1978) verified consistency of $F_{\alpha}$, he NPBE of F with respect to the Dirichlet process prior D($\alpha$), in which they assumed F and G are continuous. Assuming that A, the cumulative hazard function, is distributed according to a beta process with parameters c, $\alpha$, Hjort(1990) obtained the Bayes estimator $A_{c,\alpha}$ of A under a squared error loss function. By the theory of product-integral developed by Gill and Johansen(1990), the Bayes estimator $F_{c,\alpha}$ is recovered from $A_{c,\alpha}$. Continuity assumption on F and G is removed in our proof of the consistency of $A_{c,\alpha}$ and $F_{c,\alpha}$. Our result extends Susarla and Van Ryzin(1978) since a particular transform of a beta process is a Dirichlet process and the class of beta processes forms a much larger class than the class of Dirichlet processes.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.8
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• pp.451-459
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• 2020

This study aims to examine the relationship of the four factors that increase the protection of minority shareholder investment. The factors are non-controlling shareholders, corporate governance, free cash flow, and shareholder wealth. The data for this study is obtained from the 2017 annual reports of 136 Thai public companies listed in the Market of Alternative Investment of Thailand (MAI). The analysis uses a multiple regression model to determine which factors encourage and which inhibit the protection of minority shareholder investment. The study tests four hypotheses. The results rejected H1 because non-controlling shareholders have negatively correlated with minority shareholder investment protection (beta -0.155 and p-value 0.050). The results accepted H2, H3 and H4 as follows. H2: corporate governance has positively correlated with minority shareholder investment protection (beta 0.17 and p-value 0.031). H3: free cash flow has positively correlated with minority shareholder investment protection (beta 0.214 and p-value 0.007). H4: shareholder wealth has positively correlated with minority shareholder investment protection (beta 0.318 and p-value 0.000). The major findings suggest strong minority shareholder investment protection was enhanced by increasing corporate governance, free cash flow and shareholder wealth. The protection of minority shareholder investment needs to reduce non-controlling shareholding pattern.

• Bulletin of the Korean Chemical Society
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• v.34 no.5
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• pp.1401-1406
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• 2013

This study tested the feasibility of observing H/D exchange of intact protein by top-down electron capture dissociation (ECD) mass spectrometry for the investigation of protein structure. Ubiquitin is selected as a model system. Local structural information was obtained from the deuteration levels of c and $z^{\cdot}$ ions generated from ECD. Our results showed that ${\alpha}$-helix region has the lowest deuteration level and the C-terminal fraction containing a highly mobile tail has the highest deuteration level, which correlates well with previous X-Ray and HDX/NMR analyses. We studied site-specific H/D exchange kinetics by monitoring H/D exchange rate of several structural motives of ubiquitin. Two hydrogen bonded ${\beta}$-strands showed similar HDX rates. However, the outer ${\beta}$-strand always has higher deuteration level than the inner ${\beta}$-strand. The HDX rate of the turn structure (residues 8-11) is lower than that of ${\beta}$-strands (residues 1-7 and residues 12-17) it connects. Although isotopic distribution gets broader after H/D exchange which results in a limited number of backbone cleavage sites detected, our results demonstrate that this method can provide valuable detailed structural information of proteins. This approach should also be suitable for the structural investigation of other unknown proteins, protein conformational changes, as well as protein-protein interactions and dynamics.

• BMB Reports
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• v.44 no.9
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• pp.566-571
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• 2011

Although the phospholipase C (PLC)${\beta}$-1 isoform is associated with spontaneous seizure and distinctively expressed in the telencephalon, the distribution of PLC${\beta}$-1 expression in the epileptic gerbil hippocampus remains controversial. Therefore, we determined whether PLC${\beta}$-1 is associated with spontaneous seizure in an animal model of genetic epilepsy. In the present study, PLC${\beta}$-1 immunoreactivity was down-regulated in seizure-sensitive (SS) gerbils more than in seizure-resistant (SR) gerbils. The expression of PLC${\beta}$-1 within calretinin (CR)-positive neurons was rarely detected within the dentate hilar region of SS gerbils. PLC${\beta}$-1 immunoreactivity in the hippocampus was significantly elevated as compared to that in pre-seizure SS gerbil 3 h post-ictal. These findings suggest that alterations in PLC${\beta}$-1 immunoreactivity in the SS gerbil hippocampus may be closely related to the epileptic state of the gerbil brain and transiently elevated PLC${\beta}$-1 protein levels following seizure episodes. Such alterations may be compensatory responses in the SS gerbil hippocampus.