• 아태비즈니스연구
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• 제11권4호
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• pp.37-48
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• 2020

Purpose - This study empirically investigates whether the risk property included in fat-tails of return distributions is systematic or unsystematic based on the devised statistical methods. Design/methodology/approach - This study devised empirical designs based on two traditional methods: principal component analysis (PCA) and the testing method of portfolio diversification effect. The fatness of the tails in return distributions is quantitatively measured by statistical probability. Findings - According to the results, the risk property in the fat-tails of return distributions has the economic meanings of eigenvalues having a value greater than 1 through PCA, and also systematic risk that cannot be removed through portfolio diversification. In other words, the fat-tails of return distributions have the properties of the common factors, which may explain the changes of stock returns. Meanwhile, the fatness of the tails in the portfolio return distributions shows the asymmetric relationship of common factors on the tails of return distributions. The negative tail in the portfolio return distribution has a much closer relation with the property of common factors, compared to the positive tail. Research implications or Originality - This empirical evidence may complement the existing studies related to tail risk which is utilized in pricing models as a common factor.

• Asian-Australasian Journal of Animal Sciences
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• 제21권10호
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• pp.1389-1394
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• 2008

Abdominal fat characters are complex and economically important in the poultry industry. Their selection may benefit from the implementation of marker-assisted selection (MAS). The objective of this study was to identify the markers linked to QTL responsible for fatness traits. The Northeast Agricultural University broiler lines divergently selected for abdominal fat content (NEAUHLF) were used in the study. A total of 596 individuals from the divergent tails from the 6th to the 10th generations were genotyped at 23 microsatellite markers on chromosome 1. The differences of allele frequencies of all marker alleles between the divergent tails across the five generations were recorded. The allele frequencies of five markers, including LEI0209, LEI0146, MCW0036, ADL328 and MCW0115, had significant differences between the two tails in all five generations. The resulting p-values using Fisher's exact test on eleven markers, containing MCW248, MCW0010, MCW0106, LEI0252, LEI0068, MCW0018, MCW0061, LEI0088, MCW200, MCW283 and ROS0025, had a decreasing tendency from the 6th to the 10th generation. Statistical analysis showed that polymorphisms of the eight markers, including LEI0209, LEI0146, ROS0025, MCW0115, MCW0010, MCW0036, MCW283, ADL328, were significantly (p<0.0011) or suggestively (p<0.05) associated with abdominal fat content (AFW and AFP) across generations. It is concluded that the eight markers could be associated with the QTL affecting the deposition of abdominal fat in broiler chickens.

• 분석과 대안
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• 제3권1호
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• pp.135-157
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• 2019

The linkages between asset prices and macroeconomic outcomes are long-standing issue to both economists and monetary authorities. This paper explores the impact of asset prices on output and price in China. It focuses on the impacts of asset prices on the low quantiles of GDP gap and high quantiles of price gaprespectively. The main findings are the following: the influence of stock price gap, stock returns, and money growth on the different quantile of GDP gap and price gap are noticeable different, and there are significant impacts on the left tail of GDP gap distribution and on the right tail of price gap distribution. This implies that the results coming from simple regression will underestimate the economic risk imposed by asset price volatility. Moreover, these results also provide the caveat that one should cautiously distinguish the meaning of asset price gap and asset price growth rate and use them, through their contents are similar in some sense. One implication for monetarypolicy is that authority should interpret the relationship between asset prices and macro-economy in wider perspectives, and make the policy decision taking the impacts of asset prices on the tails of economy.

• 한국식품영양과학회지
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• 제13권2호
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• pp.149-155
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• 1984

건강식품(健康食品), 보신식품(補身食品)으로 전래되어 오는 돼지머리, 족발, 꼬리 부위의 영양학적(營養學的) 가치를 규명(究明)하기 위한 일환으로 일반성분(一般成分), 수율(收率) 및 열량과 구성 아미노산조성 그리고 무기중(無機質)중 생리적(生理的)으로 열학이 큰 철, 칼슘 및 인과 vitamin A, thiamine 및 riboflavin의 함량에 대하여 실험검토(實驗檢討)하였는데 결과는 다음과 같다. 1. 생시료(生試料)에 있어서 수율(收率)은 머리는 69.4%, 족발은 46.1%, 꼬리는 67.6%이었고, 삶은 시료(試料)의 경우 머리는 54.1%, 족발은 34.3% 및 꼬리는 47.6% 이었다. 2. 열량은 생시료(生試料)의 며리는310.5Cal 족발은288.1Cal, 꼬리는282.5Cal 였으며 삶은시료(試料)의 머리는 295.0 Cal, 족발은 267.4 Cal그리고 꼬리는 253.8 Cal 이었다. 3. 생시료(生試料)와 삶은 시료(試料)의 구성아미노산의 조성(組成) 중 필수(必須) 아미노산은 lysine, leucine, threonine이 높은 함량을 나타내었고 methionine, tryptophan이 가장 낮은 함량을 나타내고 있으며 비필수(非必修) 아미노산은 proline, glycine, glutamic acid 또는 aspartic acid가 전체아미노산의 반이상을 차지하고 있으며 전반적으로 생시료(生試料)나 삶은 시료(試料)에 있어서 조성(組成) 및 함량에 큰 변화를 찾아 볼 수 없었다. 4. 생시료(生試料)의 무기질(無機質)에 있어서 칼슘, 철은 족발이 높은 함량을 보였고 인의 경우 머리가 가장 높았다. 5. Vitamin A는 생시료(生試料)나 삶은 시료(試料) 모두에 함유되지 않았고 thiamine과 riboflavin은 적은 양이 함유되어 있었다.

• 대한수의학회지
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• 제31권1호
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• pp.1-10
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• 1991

The present investigation was focussed on histochemical and electron microscopical observations of utero-vaginal(U-V) glands in U-V junctions of domestic hens. In histochemical observations, fine granules by PAS technique for mucopolysaccharides and nile blue stain for acidic lipids were slightly stained on the cytoplasm of U-V glandular epithelium. Larger granules by Sudan black B stain for neutral fat and phospholipids and Sudan III stain for neutral fat were heavily stained on the perinuclear region of the U-V gland epithelial cells. These positive materials were heavily stained on the U-V glandular epithelium of lowfecundity hens and non-laying hens. In scanning electron microscopic findings of the U-V junction surface, the orifices of U-V glands are seen as the crater-like invagination. The neck of the U-V gland and the epithelium of U-V iunction were covered by ciliated epithelial cells. Aggregates of spermatozoa are observed often to be on the necks of the U-V gland. These spermatozoa heads are embedded in the glandular tubules and many spermatozoa tails are free on the epithelium of uterine surface. In transmission electron microscopic findings, the epithelial cells of the U-V glandular orifices were ciliated, columnar cells. The apical regions of these cells contained numerous electrondense, round secretory granules of uniformly size. The epithelial cells of the U-V glandular tubule were columnar or pyramid shape with round or oval nuclei. These epithelial cells have numerous microvilli and also contained electron-dense, round secretary granules of uniformly size and electron-lucent vesicles of various size. Spermatozoa are seen as the cross-sections of various regions of heads and tails in glandular tubules. Also spermatozoa arranged longitudinally parallel within the glandular tubules.

• 재무관리연구
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• 제24권3호
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• pp.133-152
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• 2007

손실기피(limited down side risk) 선호를 가진 투자자의 경우 통상적으로 사용하는 위험도의 척도인 분산 혹은 표준편차 대신에 하방 위험성에 더 관심을 가지게 되는데, 이러한 경우 평균-VaR 모형이 평균-분산 모형보다 더 적합한 모형일 수 있다. 이 논문에서는 두 모형을 이용하여 최적자산배분 문제를 실증분석하고 그 결과의 차이를 비교하였다. 수익률의 분포에 정규분포 가정이 아닌 두터운 꼬리(fat tail) 분포 가정을 도입하여 극단적인 위험을 고려한 최적자산배분 문제를 분석을 하였다. 각 이론이나 가정들의 강건성(robustness)을 살펴보기 위하여 역사적 분포를 이용한 분석을 비교 기준으로 하였다. 경험적 혹은 역사적 분포를 이용한 분석을 통해서, 극단적인 위험을 고려하는 손실기피적인 선호체계에서의 최적화 행위는 정규분포의 가정이나 평균-분산 모형이 적절하지 않은 것으로 확인되었다. 일상적인 수준을 능가하는 극단적인 손실 위험성을 고려하기에 적합한 모형은 수익률의 두터운 꼬리를 반영하는 분포 가정에 기초한 평균-VaR 모형인 것으로 나타났다.

• Journal of Electrical Engineering and Technology
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• 제13권6호
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• pp.2168-2177
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• 2018

The unavoidable forecast error of wind power is one of the biggest obstacles for wind farms to participate in day-ahead electricity market. To mitigate the deviation from forecast, installation of energy storage system (ESS) is considered. An accurate model of wind power forecast error is fundamental for ESS sizing. However, previous study shows that the error distribution has variable kurtosis and fat tails, and insufficient measurement data of wind farms would add to the difficulty of modeling. This paper presents a comprehensive way that makes the use of mixed skewness model (MSM) and copula theory to give a better approximation for the distribution of forecast error, and it remains valid even if the dataset is not so well documented. The model is then used to optimize the ESS power and capacity aiming to pay the minimal extra cost. Results show the effectiveness of the new model for finding the optimal size of ESS and increasing the economic benefit.

• 응용통계연구
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• 제29권1호
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• pp.1-12
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• 2016

금융시계열은 일반 시계열과는 차별적으로 stylized facts로 불리는 특징을 가지고 있다. 이 특징들은 급첨 성질, 비정규분포, 변동성 집중 및 비대칭성을 포함한다. 이러한 특징들을 설명하기 위해서는 기존의 선형 ARMA 모형에서 벗어난 특수한 모형이 필요하게 되었다. 본 논문은 변동성 모형인 GARCH 형태의 모형을 중심으로 특수 금융시계열 모형들을 소개하고 연관된 통계적 이슈들에 대해 가능한 최근 연구를 중심으로 폭 넓게 조망하고 있다.

• 생명과학회지
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• 제18권7호
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• pp.958-962
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• 2008

캥거루의 수입육 중 꼬리의 식품학적 이해를 위해 콜라겐 및 콘드로이친황산 함량, 단백질 및 지질 함량, 미량원소 함량 그리고 CLA 함량을 조사한 결과 황산분해시료의 콜라겐 함량은 캥거루꼬리, 소꼬리 시료 모두에서 고기보다 뼈에 월등히 함량이 높았다. 캥거루꼬리와 소꼬리의 시료 사이에는 캥거루 꼬리가 고기 및 뼈에서 모두 약 1.7배 1.2배로 높은 함량을 나타냈다. 캥거루 꼬리 고기시료 수용액 추출의 콘드로이친황산 함량 성분이 2.4배 이상 높았다. 캥거루꼬리에서 다양한 기능을 가지는 CLA는 4가지이성체가 주성분이고, 함량은 소고기꼬리의 0.92%에 비하여 5.3배 정도나 많은 4.9%의 높은 비율로 존재하였다.

• 한국응용과학기술학회지
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• 제13권3호
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• pp.15-24
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• 1996

Essentiality was proposed in the field of lipid by Burr and Burr in 1929. When rats were raised on the fat-free diet, their growth retarded and their skin and tails showed the characteristic deficient symptoms, which were relieved by the addition of ${\omega}6(n-6)$ polyunsaturated fatty acids as linoleic(LA) and arachidonic(AA) acids to the basal diet. LA is dehydrogenated to ${\gamma}-linolenic$ acid(GLNA) by ${\Delta}6$ desaturase, then GLNA is 2 carbon chain elongated by elongase to $dihomo-{\gamma}-linolenic$ acid(DGLNA), which is desaturated by ${\Delta}5$ desaturase to AA. These acids are called LA family or ${\omega}6(n-6)$ polyunsaturated fatty acids(PUFA). ${\alpha}-Linolenic$ acid(ALNA) is converted through the series of desaturation and elongation steps to docosahexaenic acid(DHA) via eicosapentaenoic acid(EPA). These acids belong to ALNA family or ${\omega}3(n-3)$PUFA. Human who consume large amounts of EPA and DHA, which are present in fatty fish and fish oils, have increased levels of these two fatty acids in their plasma and tissue lipids at the expense of LA and AA. Alternately, vegetarians, whose intake of LA in high, have more elevated levels of LA and AA and lower levels of EPA and DHA in plasma lipids and in cell membranes than omnivores. AA and EPA are metabolized to substances called eicosanoids. Those derived form AA are known as prostanocids(prostaglandins and prostacyclins) of the 2-types and leukotrienes of the 4-series, whereas those derived from EPA are known as prostanoids of the 3-types and leukotrienes of the 5-series. DGLNA is a precursor of the 1-types of prostaglandins. The metabolites of AA and EPA have competitive functions. Ingestion of EPA from fish or fish oil replaces AA from membrane phospholipids in practically all cells. So this leads to a more physiological state characterized by the production of proatanoids and leukotrienes that have antithrombic, antichemotactic, antivasoconstrictive and antiinflammatory properties. It is evident that ${\omega}3$ fatty acids can affect a number of chronic diseases through eicosanoids alone.