• Title/Summary/Keyword: Bonds

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Determinants of Corporate Bond Yield: Empirical Evidence from Indonesia

  • MEGANANDA, Danthi;ENDRI, Endri;OEMAR, Fahmi;HUSNA, Asmaul
    • The Journal of Asian Finance, Economics and Business
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    • v.8 no.3
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    • pp.1135-1142
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    • 2021
  • This study aims to examine the factors that determine bond yields in infrastructure companies listed on the Indonesia Stock Exchange. The research sample used 31 bonds issued by the company during the 2015-2019 period. The data analysis method to estimate the determinant of bond yield uses multiple regression models. The results prove that the increase in the coupon rate causes bond yields to increase, while the inflation rate has the opposite effect of decreasing bond yield. Interest rate, exchange rate, duration, and bond rating variables cannot affect the bond yield. The results of this study imply that investors will be interested in investing in bonds with better yields if the company has to set a higher coupon rate, especially in economic conditions that experience low inflation rates. Interest rates and exchange rates as macroeconomic variables have not been considered by investors in purchasing bonds. Bond characteristic factors, namely, the duration and rating of the bonds, are considered less important factors in bond investment decisions because they are more oriented towards getting higher yields. Therefore, further research needs to be explored further related to the behavior of Indonesian bond investors who may have different characters from investors in other countries.

Performance Evaluation of Organic-Inorganic Adhesives and Organic Adhesives for Polishing Tile Adhesion (폴리싱 타일 접착용 유·무기계 접착제와 유기계 접착제의 성능 평가)

  • Seo, Jong-Oh;Jeon, Jin-Ho;Park, Chang-Hwan;Cho, Sung-Hyun
    • Proceedings of the Korean Institute of Building Construction Conference
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    • 2023.11a
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    • pp.211-212
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    • 2023
  • Polishing tiles among porcelain tiles are more durable and aesthetic than ceramic tiles, so their demand has recently increased. In particular, since polishing tiles have a very low absorption rate, organic adhesives with chemical bonds are mainly used. However, organic adhesives have low economic efficiency and some volatile organic compounds (TVOCs). Therefore purpose of this study was to evaluate the performance of polishing tile adhesion by developing organic-inorganic adhesives, which have chemical bonds and mechanical bonds. As a result, since the amorphous chain and chemical bonds of the polymer in the tile adhesives, both tensile and shear adhesion strength were satisfied with the KS L 1592, KS L 1593, and the rate of length change itself in the thermal cycling was lower than organic adhesives. So it is thought that it is possible to replace some organic adhesives.

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The Moderate Roles of Social Rapport and Friendship in Relationship Marketing (관계마케팅에서 사회적 라포와 프렌드십의 조절적 역할)

  • Ahn, Jinwoo;Kim, Youn-Hwan;Kang, Myong Ju
    • Management & Information Systems Review
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    • v.31 no.4
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    • pp.139-165
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    • 2012
  • This paper examine the roles of social rapport and friendship which are the representative variables of strong emotional bonds between customers and firms in service relationship marketing. As results, social rapport and friendship were confirmed as positive moderators between a relational antecedent variable and a relational mediator variable. In other words, emotional bonds, such as social rapport and friendship, stimulated relationship development in service relationship marketing. Meanwhile, customer-firm emotional bonds seemed to be a negative effect on the stage of a relational mediator variable and a relational outcome variable. This meant that relational mediator variable and emotional bond variables(social rapport and friendship) individually had an positive effect on a relational outcome variable. If emotional bonds between customers and firms had already built, they could have positive influence on the relational outcome, regardless of relational mediator variables. Conclusively, firms' relational efforts focus on the building the emotional bonds with customers, not on the process of relational antecedents, mediators, and consequences.

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A Study on the Timing of Convertible Bonds Using the Machine Learning Model (기계학습 모형을 이용한 전환사채 행사 시점에 관한 연구)

  • Ryu, Jae Pil
    • Journal of the Korea Convergence Society
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    • v.12 no.10
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    • pp.81-88
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    • 2021
  • Convertible bonds are financial products that contain the nature of both bonds and shares, which are generally issued by companies with lower credit ratings to increase liquidity. Conversion bonds rely on qualitative judgment in the past, although decision-making on whether and when to exercise the right to convert is the most important issue. Therefore, this paper proposes to apply artificial neural network techniques to scientifically determine the exercise of conversion rights. We distinguish between a total of 1,800 learning data published in the past and 200 predictive experimental data and build an artificial neural network learning model. As a result, the parity performance in most groups was excellent, achieving an average excess of about 10% or more. In particular, groups 3-6 recorded an average excess of about 20% and group 6 recorded an average excess of about 37%. This paper is meaningful in that it focused on solving decision problems by converging and applying machine learning techniques, a representative technology of the fourth industry, to the financial sector.

Conformational Preferences of Glycerol in the Gas Phase and in Water

  • Jeong, Keun-Hong;Byun, Byung-Jin;Kang, Young-Kee
    • Bulletin of the Korean Chemical Society
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    • v.33 no.3
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    • pp.917-924
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    • 2012
  • The conformational study of glycerol has been carried out using the M06-2X/cc-pVTZ level of theory in the gas phase and the SMD M06-2X/cc-pVTZ level of theory in water in order to understand its conformational preferences and solvation effects. Most of the preferred conformers of glycerol have two $C_5$ hydrogen bonds in the gas phase, as found by the analysis of calorimetric data. It has been known that the solvation drove the hydrogen bonds of glycerol to be weaker and its potential surface to be fatter and that glycerol exists as an ensemble of many feasible local minima in water. The calculated populations of glycerol in the gas phase and in water are consistent with the observed values, which are better than the previously calculated ones at the G2(MP2), CBS-QB3, and SM5.42 HF/6-31G(d) levels of theory.

The Crystal Structure of Monoethanolamine Hydrochloride (Monoethanolamine 鹽酸鹽의 結晶構造)

  • Koo, Chung Hoe;Lee, O Jae;Sin, Hyeon So
    • Journal of the Korean Chemical Society
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    • v.16 no.1
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    • pp.6-12
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    • 1972
  • The crystal structure of monoethanolamine hydrochloride is triclinic P1 with two formula units in a cell of dimensions a = $4.42\pm0.02$, b = $7.44\pm0.02$, c = $7.48\pm0.02$, $\alpha$ = $102.4\pm0.3$, $\beta$ = $91.1\pm0.3$, $\gamma$ = $77.2\pm0.3^{\circ}.$ The configuration of monoethanolamine is a gauche form with dihedral angle, $90^{\circ}$. The nitrogen atom forms four hydrogen bonds, three to Cl- ions(3.15, 3.24, $3.28\AA)$ and one to a hydroxyl group of another molecule (N${\cdot}{\cdot}{\cdot}$O, $2.90{\AA})$. The oxygen also forms two such bonds, one to a Cl- ion $(3.14\AA)$, one to an amine group of another molecule (O${\cdot}{\cdot}{\cdot}$N, $2.90{\AA}).$ Molecules are linked into two-dimensional network by hydrogen bonds.

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Nanostructural Features of nc-Si : H Thin Films Prepared by PECVD (PECVD 기법에 의해 제조된 nc-Si : H 박막의 나노 구조적 특성)

  • 심재현;정수진;조남희
    • Korean Journal of Crystallography
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    • v.14 no.2
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    • pp.56-61
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    • 2003
  • Nanocrystalline hydrogenated silicon (nc-Si : H) thin films were deposited at room temperature by plasma enhanced chemical vapor deposition (PECVD): a mixture of SiH₄ and H₂ gas was introduced into the evacuated reaction chamber. When the H₂ gas flow rate was low, the density of Si-H₃ bonds was high in the films. On the other hand, when the H₂ gas flow rate was high, e.g., 100 sccm, a large number of Si-H bonds contributed to the passivation of the surface of the large volume of Si nanocrystallites. The relative fraction of the Si-H₃ and Si-H₂ bonds in the amorphous matrix varied sensitively with the H₂ gas flow rate. The variation was associated with the change in the intensity as well as the wavelength of the main PL peaks, indicating the change in the total volume as well as the size of the Si nanocrystallites in the films.

The Return Generating Process of Corporate Bonds based on Credit Ratings

  • Jeong, Won-Gil
    • Journal of the Korean Data and Information Science Society
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    • v.14 no.4
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    • pp.805-815
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    • 2003
  • This study examines two hypothesis regarding return generating process of corporate bonds: the trading day hypothesis and calendar day hypothesis. To differentiate two hypothesis ANOVA(analysis of variance) and regression analysis were used. If the statistical result can not reject calendar day hypothesis, it implies that there is weekend effect. The statistical result didn't support any particular hypothesis for the period of September 7th, 1999 through December 31, 2002. However, corporate bonds were supporting calendar day hypothesis for the period of October 9, 2000 through December 31, 2002. The result indicates that the Korean corporate bond market got through the impact of IMF.

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Dihydrogen Phosphate Selective Anion Receptor Based on Acylhydrazone

  • Pandian, T. Senthil;Kang, Jongmin
    • Bulletin of the Korean Chemical Society
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    • v.35 no.7
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    • pp.2025-2028
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    • 2014
  • Anion receptor 1 based on acylhydrazone has been designed and synthesized. UV-vis and $^1H$ NMR titration showed that receptor 1 is selective receptor for dihydrogen phosphate ($H_2PO_4{^-}$). Dihydrogen phosphate was complexed by the receptor 1 via at least 4 hydrogen bonding interactions, contributing from two amide N-Hs and two imine C-Hs. In addition, nitrogen in the aromatic ring could make 2 additional hydrogen bondings with OH groups in the dihydrogen phosphate. However, the receptor 1 could make only 4 hydrogen bonds with halides. Therefore, receptor 1 could bind anions through hydrogen bonds with a selectivity in the order of $H_2PO_4{^-}$ > $Br^-$ > $Cl^-$ in highly polar solvent such as DMSO.

Charges of TIP4P water model for mixed quantum/classical calculations of OH stretching frequency in liquid water

  • Jeon, Kiyoung;Yang, Mino
    • Rapid Communication in Photoscience
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    • v.5 no.1
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    • pp.8-10
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    • 2016
  • The potential curves of OH bonds of liquid water are inhomogeneous because of a variety of interactions with other molecules and this leads to a wide distribution of vibrational frequency which hampers our understanding of the structure and dynamics of water molecules. Mixed quantum/classical (QM/CM) calculation methods are powerful theoretical techniques to help us analyze experimental data of various vibrational spectroscopies to study such inhomogeneous systems. In a type of those approaches, the interaction energy between OH bonds and other molecules is approximately represented by the interaction between the charges located at the appropriate interaction sites of water molecules. For this purpose, we re-calculated the values of charges by comparing the approximate interaction energies with quantum chemical interaction energies. We determined a set of charges at the TIP4P charge sites which better represents the quantum mechanical potential curve of OH bonds of liquid water.