• 산업융합연구
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• 제18권5호
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• pp.1-13
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• 2020

본 연구는 투자자 입장에서 전환사채(CB)의 투자효과가 어느 정도 인지를 규명하고 효율적인 투자방안을 투자자들에게 제시하는 것이 연구목적이다. 연구방법은 2015년부터 2020년 6월까지 발행한 CB에 대한 표면이자율, 만기이자율, 채권만기일, 전환가격, 전환일 등을 조사한 후, 전환일 이후 일별주가변동과 연결하여 CB에 대한 투자효율성 및 주식전환효과가 어느 정도인지를 파악하였다. 연구 결과, 전환가격초과일수비율이 전환 가능한 날짜의 1/4 정도에 불과하여 CB의 투자효율성은 낮은 것으로 분석되었다. 전환일수익률은 평균 -6.3%, 만기일수익률은 평균 -5.2%여서 평균적으로 마이너스 수익률을 보여 투자자 기대와 다르게 투자효과가 산출되었다. 전환일수익률이 마이너스인 종목수가 플러스인 종목수 보다 2.4배, 만기일수익률이 마이너스인 종목수가 플러스인 종목수 보다 3.7배 많아서 CB의 주식전환 기대 수익률은 낮은 것으로 분석되었다.

• 서비스연구
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• 제10권4호
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• pp.71-88
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• 2020

CB(전환사채)는 주식전환권을 행사한 이후부터는 채권이 아닌 주식으로 변한다는 점에서 채권과 주식의 성격을 갖고 있는 메자닌 증권이다. 본 연구는 투자자 입장에서 CB의 투자효율성 정도를 실증규명하고 효율적인 투자방안을 제시하는 것이 연구목적이다. 연구방법은 CB종목별로 표면이자율, 만기이자율, 채권만기일, 전환가격, 전환청구일 등을 조사한 후, 전환청구일 이후 발행회사의 일별 주가변동과 연결하여 CB에 대한 투자의 효율성과 CB의 주식전환효과가 어느 정도인지를 계량적으로 파악하고자 하였다. 연구 결과, 전환가격초과일수비율이 전환 가능한 날짜의 1/4 정도에 불과하여 투자효율성은 낮은 것으로 분석되었다. 전환일수익률은 평균 -6.3%, 만기일수익률은 평균 -5.2%여서 평균적으로 minus 수익률을 보여 투자자 기대와 다르게 산출되었다. 전환일수익률이 minus인 종목수가 plus인 종목수보다 2.4배 많았으며, 만기일수익률이 minus인 종목수가 plus인 종목수보다 3.7배 많아서 CB의 주식전환 기대수익률은 낮은 것으로 분석되었다. 연구기여도는 CB의 기대수익률이 높지 않다는 문제점을 도출하였고, 투자자 입장에서 CB를 매입할 때 유의사항을 정립한 데 있다.

• Journal of Korean Society for Atmospheric Environment
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• 제18권E2호
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• pp.107-120
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• 2002

Dimethyl sulfide (DMS) is the major sulfur gas released from the ocean. The atmospheric DMS released from the ocean is oxidized mainly by hydroxyl (OH) radical during the day and nitrate (NO$_3$) radical at night to form sulfur dioxide (SO$_2$) as well as other stable products. The oxidation mechanism of DMS via OH has been known to proceed by two channels; abstraction and addition channels. The major intermediate product of the addition channel has been known to be dimethylsulfoxide (DMSO) based on laboratory chamber studies and field experiments. However, a branching ratio for DMSO formation is still uncertain. The reaction of DMSO with OH ultimately produces SO$_2$and dimethylsulfone. The major product of the abstraction channel has known to be SO$_2$from laboratory chamber studies. But overall conversion efficiency for DMS to SO$_2$from DMS oxidation is still inconsistent in the literature. Based on laboratory and field studies, the conversion efficiency from the abstraction channel is likely to be greater than 0.5, while that from the addition channel is likely to be greater than 0.6. Overall conversion efficiency from DMS to SO$_2$might be greater than 0.5 based on the above two values in the remote marine boundary layer (MBL). This high efficiency in the remote MBL is supported by strong coupling between DMS and SO$_2$measurements with high temporal resolution.

• Asian-Australasian Journal of Animal Sciences
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• 제19권2호
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• pp.198-202
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• 2006

An experiment was conducted to investigate the effect of phytase, organic acids and their interaction on body weight gain, feed consumption, feed conversion ratio, carcass yield and tibia ash. A total of 680 three-day old Japanese quail chicks (Coturnix coturnix japonica) were assigned to 20 battery brooders, 34 chicks in each. The experimental period lasted 35 days. The treatment groups employed were: 1) a positive control which included 3.5 g available phosphorus (AP)/kg diet and 10 g Ca/kg diet; 2) a negative control which included 2 g AP/kg diet and 8 g Ca/kg diet, 3) negative control diet supplemented with either 300 FTU phytase/kg diet (phytase) or 4) 2.5 g organic acid (lactic acid+formic acid)/kg diet (organic acid); or 5) 300 FTU phytase/kg diet+2.5 g organic acid/kg diet (phytase+organic acid). All birds were fed with the positive control diet for a week and then transferred to the dietary treatments. At the end of the study, there were no differences (p>0.005) among the groups in body weight, weight gain, feed consumption, feed conversion ratio and carcass yield. Tibia ash, however, was reduced (p<0.001) for quails fed the negative control diet containing a low-level of AP compared to the positive control diet containing adequate AP. The addition of phytase, organic acid or phytase+organic acid to the diets containing the low-level of AP improved (p<0.001) tibia ash. On the other hand, an extra synergistic effect of phytase and organic acid on tibia ash was not determined. This study demonstrated that it may be possible to reduce supplemental level of inorganic P with phytase and/or organic acid supplementation for quail diets without adverse effect on performance and tibia ash.

• Asian-Australasian Journal of Animal Sciences
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• 제29권10호
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• pp.1470-1476
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• 2016

Octacosanol, which has prominent physiological activities and functions, has been recognized as a potential growth promoter in animals. A total of 392 1-d-old male Arbor Acres broiler chicks with similar body weight were randomly distributed into four dietary groups of seven replicates with 14 birds each supplemented with 0, 12, 24, or 36 mg octacosanol (extracted from rice bran, purity >92%)/kg feed. The feeding trial lasted for six weeks and was divided into the starter (day 1 to 21) and the grower (day 22 to 42) phases. The results showed that the feed conversion ratio (FCR) was significantly improved in broilers fed a diet containing 24 mg/kg octacosanol compared with those fed the control diet in the overall phase (day 1 to 42, p = 0.042). The average daily gain and FCR both showed linear effects in response to dietary supplementation of octacosanol during the overall phase (p = 0.031 and 0.018, respectively). Broilers fed with 24 or 36 mg/kg octacosanol diet showed a higher eviscerated yield, which increased by 5.88% and 4.26% respectively, than those fed the control diet (p = 0.030). The breast muscle yield of broilers fed with 24 mg/kg octacosanol diet increased significantly by 12.15% compared with those fed the control diet (p = 0.047). Eviscerated and breast muscle yield increased linearly with the increase in dietary octacosanol supplementation (p = 0.013 and 0.021, respectively). Broilers fed with 24 or 36 mg/kg octacosanol diet had a greater (p = 0.021) $pH_{45min}$ value in the breast muscle, which was maintained linearly in response to dietary octacosanol supplementation (p = 0.003). There was a significant decrease (p = 0.007) in drip loss value between the octacosanol-added and the control groups. The drip loss showed linear (p = 0.004) and quadratic (p = 0.041) responses with dietary supplementation of octacosanol. These studies indicate that octacosanol is a potentially effective and safe feed additive which may improve feed efficiency and meat quality, and increase eviscerated and breast muscle yield, in broiler chicks. Dietary supplementation of octacosanol at 24 mg/kg diet is regarded as the recommended dosage in the broilers' diet.

• 대한환경공학회지
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• 제30권9호
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• pp.933-938
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• 2008

유기성 폐기물을 이용하여 생산된 수소를 환원제로 활용하여 이산화탄소를 유용한 에너지원인 메탄으로 전환시키고자 하였다. 3 개월 동안 혐기성 미생물을 이산화탄소와 수소만을 이용하여 배양하였으며, 그 결과 acetogenotrophs의 영향에 의한 메탄의 생성은 없었고, 이산화탄소를 8 mL/min으로 주입하였을 때 이산화탄소와 수소의 주입비가 1:5에서 메탄의 생성량이 2.2 m$^3$/m$^3$ day로 가장 많았으며, 이때의 이산환탄소 저감률 또한 92%로 가장 우수하였다. 회분형태로 수소 생산과 메탄발효조와의 연계실험을 통하여, 연속적으로 수소를 생산하면서 이산화탄소를 같이 메탄발효조에 주입하여, 이산화탄소의 메탄으로의 전환을 확인하였다.

• 한국가금학회지
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• 제44권3호
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• pp.161-172
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• 2017

This study was conducted to determine the effect of Saccharomyces cerevisiae (SC) as a dietary probiotic and evaluated the most suitable feeding interval for this probiotic on growth performance, carcass yield, and meat quality parameters in broiler chickens. In total, 1,050 one-day-old Cobb 500 chicks were randomly assigned to one of seven dietary treatment groups, in a $2{\times}3$ factorial arrangement with 3 SC dosages (0.6%, 1%, and 1.4%) and two feeding intervals [long term (LT) for 35 days and short term (ST) for 28 days after hatching], with a negative control diet (NC; 0% SC). Triplicate experiments were performed with 50 birds per cage. Broilers fed a diet including SC showed increased (p<0.01) daily gain and feed efficiency compared to the control. Further, broilers fed the 1.4% SC supplemented diet showed a significantly increased (p<0.01) average daily gain (ADG) and feed conversion ratio (FCR) compared to broilers fed the 0.6% and 1% SC incorporated diets. Similarly, broilers fed an LT SC diet showed a greater (p<0.01) increase in ADG and FCR compared to broilers fed an ST SC diet. Moreover, broilers fed an LT SC diet displayed a reduced (p<0.05) meat pH, gizzard weight, and increased (p<0.05) meat water-holding capacity compared to broilers fed an ST SC diet. Broilers fed the 1.4% SC supplemented diet showed increased (p<0.05) thigh muscle weight compared to broilers fed the 0.6% and 1% SC supplemented diets. In conclusion, broilers fed LT SC diets showed improved growth performance and carcass quality parameters compared to broilers fed ST SC diets, and the NC diet, from hatching to day 35.

• Asian-Australasian Journal of Animal Sciences
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• 제29권3호
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• pp.384-389
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• 2016

A total of 400, one day-old commercial broiler chicks were divided into five diet groups (negative control, positive control group with 55 ppm Zn-bacitracin, 15 ppm ${\beta}$-glucan, 30 ppm ${\beta}$-glucan, and 60 ppm ${\beta}$-glucan) and fed for six weeks. Ten broilers were allotted to each of 40 floor pens. Eight floor pens were randomly assigned to one of the 5 diets. Each diet was fed to the broilers for 6 weeks with free access to water and diet. The survival rate, growth rate, feed efficiency, and feed conversion rate of the broilers were calculated. At the end of the feeding trial, the birds were slaughtered, breast muscles deboned, and quality parameters of the breast meat during storage were determined. The high level of dietary ${\beta}$-glucan (60 ppm) showed better feed conversion ratio and survival rate than the negative control. The survival rate of 60 ppm ${\beta}$-glucan-treated group was the same as that of the antibiotic-treated group, which showed the highest survival rate among the treatments. There was no significant difference in carcass yield, water holding capacity, pH, color, and 2-thiobarbituric acid reactive substances values of chicken breast meat among the 5 treatment groups. Supplementation of 60 ppm ${\beta}$-glucan to broiler diet improved the survival rate and feed conversion rate of broilers to the same level as 55 ppm Zn-bacitracin group. The result indicated that use of ${\beta}$-glucan (60 ppm) can be a potential alternative to antibiotics to improve the survival and performance of broilers. However, dietary ${\beta}$-glucan showed no effects on the quality parameters of chicken breast meat.

• 적정기술학회지
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• 제7권1호
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• pp.59-71
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• 2021

하이브리드수열탄화 (Hybrid HTC) 기술은 2가지 이상의 유기성폐기물을 혼합한 특허 받은 열역학 공정으로 공정온도 180~250℃, 압력 20~40 bar에서 반응시간이 2시간 이내이며 에너지 소비가 적고, 폐기물의 부피감소 및 악취 저감효과가 크다. 폐기물 중 대부분의 탄소가 최종 생성물에 축적되므로 유기성 폐기물 고형연료화에 가장 적합한 기술로 평가받고 있다. 본 연구에서는 하이브리드 수열탄화기술을 활용하여 캄보디아 망고 폐기물을 대상으로 온도 및 반응시간의 변화에 따라 발열량 및 수율 등에 미치는 영향에 대하여 평가하였다. 본 연구를 통해 공정변수를 최적화하고, 전공정플랜트의 에너지 효율성을 향상시킬 수 있으며, 수연탄화기술에서 분해되어 가스가 생성되는데 이때 수소(H₂) 및 메탄(CH₄) 등 제조 및 생산기술개발을 할 수 있다. 본 연구 결과를 토대로 망고폐기물(2t/day)실증 물질수지 및 에너지 수지 도출과 함께 경제성도 평가하였다.

• Asian-Australasian Journal of Animal Sciences
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• 제17권1호
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• pp.102-108
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• 2004

The present experiment was conducted to assess the efficacy of methionine hydroxy analogue free fatty acid (MHAFA) in comparison to DL-methionine (DL-Met) utilizing day-old commercial broiler chicks (n=300). The chicks were randomly distributed into 30 groups of 10 chicks each. Three dietary treatments, viz. D1-maize-soybean meal based basal diet (Control), D2- control diet supplemented with DL- methionine to meet its requirements and D3-control supplemented with MHA-FA @ 1.54 times of DL-methionine used in D2, were formulated. Each dietary treatment was offered to 10 replicated groups of chicks following completely random design (CRD). The chicks fed on supplemental DL-Met had significantly higher (p<0.01) gain in body weight, followed by MHA-FA group and control during 0-3 weeks of age. During overall growth period (0-6 weeks), chicks in DL-Met and MHA-FA groups grew better (p<0.01) than those in control. Feed conversion ratio (FCR) improved (p<0.01) on supplementation of either DL- Met or MHA-FA in the basal (Control) diet during 0-3 weeks of age. The FCR for overall period, however, did not differ statistically (p>0.05) amongst the treatments. The eviscerated yields emanated from diets with DL-Met or MHA-FA were higher (p<0.01) than that in Control. Abdominal fat pad was also more (p<0.01) in broilers fed control diet than in DL-Met or MHA-FA supplemented group. Breast yield was higher (p<0.05) in MHA-FA fed broilers than those fed DL-methionine supplemented or un-supplemented diets. The efficacy of MHA-FA in comparison to DL-Met for growth was 62.11, 64.82 and 63.88% and for feed efficiency was 62.98, 67.73 and 64.01% at 0-3, 3-6 and 0-6 weeks of age, respectively, while it was 65.85, 71.40 and 67.49% for eviscerated yield, abdominal fat pad reduction and breast yield at 6 weeks of age, respectively.