• Asia-Pacific Journal of Business
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• v.13 no.2
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• pp.123-138
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• 2022

Purpose - This study compares the performances of dynamic asset allocation strategies using Korean stocks and U.S. dollar, which have been negatively correlated for a long time, to examine the diversification effects in the portfolios of them. Design/methodology/approach - In the current study, we use KOSPI200 index, as a proxy of the aggregated portfolio of Korean stocks, and USDKRW foreign exchange rate to implement various portfolio management strategies. We consider the equally-weighted, risk-parity, minimum variance, most diversified, and growth optimal portfolios for comparison. Findings - We first find the enhancement of risk adjusted returns due to risk reduction rather than return increasement for all the portfolios of consideration. Second, the enhancement is more pronounced for the trading strategies using correlations as well as volatilities compared to those using volatilities only. Third, the diversification effect has become stronger after the global financial crisis in 2008. Lastly, we find that the performance of the growth optimal portfolio can be improved by utilizing the well-known momentum phenomenon in stock markets to select the length of the sample period to estimate the expected return. Research implications or Originality - This study shows the potential benefits of adding the U.S. dollar to the portfolios of Korean stocks. The current study is the first to investigate the portfolio of Korean stocks and U.S. dollar from investment perspective.

• Journal of Environmental Policy
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• v.10 no.1
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• pp.71-91
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• 2011

The purpose of this paper is to estimate the environmental performance of 29 Chinese provinces by adopting the advanced measurements, integrated pollution intensity index, IPI, which can be computed using Data Envelopment Analysis(DEA) techniques. This index has the advantage of accounting for multiple resources used, good outputs produced and pollutants emitted simultaneously. The result obtained using the methodology shows the obvious evidence that provinces located around eastern area of China take relatively low levels and these phenomenons have been clearly observed throughout the sample period 1998~2007. The estimated index can be interpreted that the environmental burden in China has been steadily decreased as economic growth. This paper also tries to figure out the relationship among IPI, income levels, economic structures, the level of environmental regulations and FDI inflow. The estimated relationship between IPI and income per capita predicts improving environmental performance with increasing income levels. This explains the improvement in IPI which is simultaneously observed with income increases. According to the 'pollution haven hypothesis', many researches have been concerned the possibility that a large amount of foreign capital has been invested in China to avoid the strict environmental standards in advanced countries. However, the estimated coefficients in all model specifications take negative sign with IPI and highly statistical significant. This is a indication that there are positive impacts of foreign investments on IPI by adopting clean and high technologies from advanced countries.

• Korean Journal of Fisheries and Aquatic Sciences
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• v.38 no.4
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• pp.232-238
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• 2005

This paper describes reproduction, population structure, growth and size at sexual maturity of a deep-water mud shrimp (Solenocera melantho) in the adjacent waters of Geomun Island, Korea. The shrimp was caught by a beam trawl from November 1998 to December 1999. Spawning period was estimated by gonadosomatic index to be from August to early November with a peak in October to early November. Female shrimps were $12\%$ matured at 16 mm in carapace length, $33\%$ matured at 18 mm and $75\%$ matured at 22 mm. The size at $50\%$ maturity for female was estimated to be 20.65 mm in carapace length. Breeding season was estimated to be from August to early November with a peak in October to early November. The size at $50\%$ inseminated was 19.81 mm CL. The fecundity was 87,500-405,200 and related exponentially to carapace length and total weight. This species survived between 25 and 26 months. The maximum carapace length of females and males were 48 mm and 34 mm respectively. Sex ratio was $51.3\%$, and the females were preponderant. Growth was estimated by modified von Bertalanffy growth function incorporating seasonal variation in growth in both years females (K=1.019/yr and $L_{\infty}$=51.731 mm CL) grew faster, reaching a larger size at a given age than males (K=1.848/yr, and $L_{\infty}$=27.499 mm CL). This is indicated by differences in growth performance indices $(\varphi')$ between females (3.291) and males (3.145).

• Journal of Plant Biotechnology
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• v.48 no.2
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• pp.115-122
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• 2021

Aspilia africana (Pers) C.D.Adams, a plant used for centuries in many African countries to treat diseases such as osteoporosis, malaria, tuberculosis, and diabetes, is of great pharmaceutical interest, yet there is limited scientific literature on its germination and growth. This research paper describes the effects of different commercial soils on the germination, growth, and chlorophyll content of A. africana. The germination parameters assessed included final germination percentage (FGP), mean germination time (MGT), and germination index (GI). Shoot length, leaf number, and fresh and dry weights were some of the parameters used to assess A. africana growth. The FGP was low and did not vary significantly; the MGT was 7 ~ 10 days; and the GI was significantly higher in PPS soil at 4.61 ± 0.332 days. Aspilia africana plants in HS:PPS soil showed the best overall growth, producing the highest mean leaf number (18.00 ± 1.129), longest mean shoot length (202.43 ± 13.451 mm), and highest mean fresh and dry weights (7.08 ± 1.061 g and 0.629 ± 0.112 g, respectively). The highest chlorophyll content in leaves of A. africana under HS:PPS conditions suggested a higher photosynthetic potential of plants in this soil. The best growth performance of A. africana in the HS:PPS soil could be attributed to a higher amount of certain mineral nutrients such as nitrogen, potassium, and phosphorus in the HS:PPS soil compared to the other soil categories. It is unclear why the FGP of A. africana was low and we recommend an exclusive study to investigate this further.

• Asian-Australasian Journal of Animal Sciences
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• v.27 no.8
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• pp.1131-1140
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• 2014

This research focused on the effects of different doses of Bacillus subtilis KN-42 on the growth performance, diarrhea incidence, faecal bacterial flora, and the relative number of Lactobacillus and Escherichia coli in faeces of weaned piglets to determine whether the strain can serve as a candidate antimicrobial growth promoter. A total of 360 piglets (initial body weight $7.14{\pm}0.63$ kg) weaned at $26{\pm}2$ days of age were randomly allotted to 5 treatment groups (4 pens per treatment with 18 pigs per pen) for a 28-day trial. Dietary treatments were basal diet without any antimicrobial (negative control; NC), basal diet supplemented with 120 mg/kg feed of neomycin sulfate (positive control; PC) and basal diet supplemented with $2{\times}10^9$ (L), $4{\times}10^9$ (M) and $20{\times}10^9$ (H) CFU/kg feed of B. subtilis KN-42. During the overall period, average daily gain and feed efficiency of piglets were higher in groups PC, M, and H than those in group NC (p<0.05), and all probiotics and antibiotics groups had a lower diarrhea index than group NC (p<0.05). The 16S rDNA gene-based methods were used to analyze faecal bacterial flora on day 28 of experiment. The result of denaturing gradient gel electrophoresis analysis showed that supplementation of B. subtilis KN-42 to the diet changed the bacterial communities, with a higher bacterial diversity and band number in group M than in the other four groups. Real-time polymerase chain reaction analysis showed that the relative number of Lactobacillus were higher in groups PC and H than in group NC (p<0.05), and the supplemented B. subtilis KN-42 to the diet also reduced the relative number of E. coli (p<0.05). These results suggest that dietary addition of B. subtilis KN-42 can improve the growth performance and gastrointestinal health of piglets.

• Asian-Australasian Journal of Animal Sciences
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• v.24 no.2
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• pp.222-229
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• 2011

This study was conducted to determine the effects of dietary multi-nutritional targeted supplementation according to different growth stages on performance, blood metabolites and carcass characteristics of Korean native Hanwoo steers. Thirty two Hanwoo steers, 6 months of age and weighing $159.2{\pm}24.1\;kg$, were distributed into 2 groups: control group without any supplements, and multi-nutritional targeted supplementation (MNTS) treatment group supplied with wheat bran and catechins (WBC, 8 to 16 months of age), ruminally protected amino acid-enriched fatty acid (RPAFA, 17 to 28 months of age) and ruminally protected choline with vitamin E (RPCV, 22 to 28 months of age), respectively. Average daily gain was not significantly different between the two groups. During the late fattening period, concentrate, rice straw and dry matter intakes were relatively lower in MNTS than in the control group. Rib eye area, back fat thickness and yield index were similar between the two groups. Meat color was relatively lower in MNTS compared with the control group. The appearance rate of high quality grade ($1^{++}$, $1^+$ and 1) tended to be higher in MNTS compared with the control group. Thus, the present results indicate that dietary multi-nutritional targeted supplementation at different growth stages could be recommendable to increase income according to production of high quality Hanwoo beef without any negative effects on growth performance and carcass characteristics.

• Asian-Australasian Journal of Animal Sciences
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• v.32 no.6
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• pp.826-833
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• 2019

Objective: This study was performed to evaluate whether hot temperature and rumen-protected fat (RPF) supplementation affect growth performance, rumen characteristics, and serum metabolites in growing stage of Korean cattle steers. Methods: Twenty Korean cattle steers ($230.4{\pm}4.09kg$ of body weight [BW], $10.7{\pm}0.09months$ of age) were divided into a conventional control diet group (n = 10) and a 0.8% RPF supplementation group (n = 10). Steers were fed 1.5% BW of a concentrate diet and 4 kg of tall fescue hay for 16 weeks (July 10 to August 6 [P1], August 7 to September 3 [P2], September 4 to October 1 [P3], October 2 to 30 [P4], of 2015). Results: The mean temperature-humidity index (THI) was higher (p<0.001) in P1 (76.8), P2 (76.3), and P3 (75.9) than in P4 (50.9). The mean THI of P1-3 were within the alert heat stress (HS) category range according to previously reported categories for feedlot cattle, and the mean THI of P4 was under the thermo-neutral range. Neither month nor RPF supplementation affected (p>0.05) average daily gain and gain to feed ratio. Month and RPF supplementation affected concentrations of glucose, albumin, and high-density lipoprotein (HDL); those of albumin and glucose tended to decrease (p<0.10), but HDL concentration increased (p<0.01) by RPF supplementation. Neither month nor RPF affected (p>0.05) ruminal pH, $NH_3-N$, and volatile fatty acid concentrations, whereas the C2:C3 ratio was affected (p<0.05) by month. Conclusion: Korean cattle may not have been significantly affected by alert HS during the growing stage. Growth performance was higher during hotter months, although some changes in blood metabolites were observed. The RPF supplementation affected some blood lipids and carbohydrate metabolites but did not affect growth performance.

• Journal of Crop Science and Biotechnology
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• v.11 no.3
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• pp.215-222
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• 2008

Multilocation trials on 36 rice(Oryza sativa) genotypes of 3 different maturity groups were conducted at four different locations of Orissa for 3 years and 30 ragi(Eleusine coracana) genotypes of 2 different maturity groups were evaluated in three environmental conditions for 3 years. Grain yield data were subjected to stability analysis following linear regression model to estimate adaptability and stability parameters, i.e. b, and $S^2d$ Stability of performance of genotypes was also estimated by two other stability parameters viz., ecovalence W and AMMI stability value ASV. The rice and ragi genotypes of different duration groups showed wide variation in their mean yield, b, $S^2d$, W and ASV parameters. Seeds of the 36 rice and 30 ragi genotypes were treated with 500 and 100 ppm aqueous solution of maleic hydrazide(MH) for 24 hours, respectively to study MH-sensitivity. Sensitivity of genotypes to MH treatment was estimated in terms of seedling growth inhibition index(SGI). The rice and ragi genotypes showed wide differences in their MH-sensitivity in terms of SGI. Relationship of MH-sensitivity of genotypes with their yielding ability, adaptability and stability of performance was tested by contingency $x^2$ test. Low sensitivity of rice and ragi genotypes to MH in terms of SGI appeared to be good indicators of high yielding ability of genotypes. Also, low and high MH-sensitivity of genotypes would be a good indicator of better adaptability to rich and poor environments, respectively, in ragi but not in rice. Low MH-sensitivity of genotypes could be the good indicator of stability of yield performance in rice but not in ragi.

• Journal of Animal Science and Technology
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• v.64 no.5
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• pp.970-984
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• 2022

Thermal stress is a tremendous health predicament encountered by poultry farmers with adverse effects on the performance, product stature, health condition, survival, and overall welfare of poultry birds, and so requires urgent dietary user-friendly strategy to curb. This study was conducted with 200-day old broilers for the purpose of investigating the potential of phytogenics in refining the negative effects of heat stress on broiler chicken. Moringa, Phyllanthus and mistletoe leaves were processed as phytogenic supplements and incorporated into standard ration for broilers as treatments B1 (control), B2, B3 and B4 diet during the peak of thermal discomfort in humid tropics. Growth and carcass indices were monitored in a 49-day trial and blood samples were harvested at the end of the ordeal period to assess haematology, serum biochemical and oxidative stress markers with the use of standard procedures. The results obtained showed that the prevailing environmental condition in the study site indicated that the birds were exposed to heat stress. Birds fed on moringa and mistletoe supplements had higher performance index than birds without supplementation during heat stress condition, while birds fed on mistletoe supplement had the highest survival rate across the treatments. The liveweight, slaughter weight, dressed weight and eviscerated weight of heat stressed birds fed on moringa, phyllanthus and mistletoe supplements were significantly higher than birds on control treatment. Heterophyl/lymphocyte ratio of heat stressed birds without supplement were higher than birds on phytogenic supplements, with least values recorded in phyllanthus and mistletoe fed birds. Birds on phytogenic supplement tend to have lower cholesterol profile, lipid peroxidation and better antioxidant profile than birds on control treatment during heat stress conditions. Mistletoe supplementation in broiler ration enhances the survival rate, as well as promotes growth indices better among the phytogenic supplements. However, phytogenic supplements did ameliorate the negative effects of thermal discomfort on performance, physiological and oxidative stress in heat-stressed broiler chicken.

• Animal Bioscience
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• v.37 no.4
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• pp.668-677
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• 2024

Objective: The current experiment was performed to investigate the influence of different dietary levels of Moringa oleifera leaf meal (MOLM) on productive performance, nutrient digestibility, blood parameters, immune response, caecal microbiota, and carcass characteristics of Muscovy ducks (Cairina moschata) during 7 to 63 d of age. Methods: A total of 240 unsexed 7-d-old ducklings were distributed into five (treatment) groups; each one contained six replicates with eight ducklings each. Birds of the first group were fed basal diet without MOLM and served as control, while the other four groups were fed basal diet with 0.25%, 0.50%, 1.0%, and 2.0% MOLM inclusion level, respectively. Results: The obtained results revealed that including MOLM in the diets significantly improved body weight, body weight gain, feed conversion ratio and economic efficiency compared with the control group. Among the different MOLM inclusion treatments, increasing MOLM inclusion level decreased (p<0.05) such previous parameters. Decreasing MOLM inclusion levels in duckling diets increased (p>0.05) the digestibility of organic matter, crude protein, ether extract, and nitrogen free extract, however all MOLM treatments were significantly higher than the control group. Results also revealed that feeding ducks lower MOLM inclusion levels (0.25% or 0.50%) improved blood parameters (p<0.05) compared with the higher inclusion levels (1.0% or 2.0% MOLM) and the control group. Ducks fed different MOLM levels had significantly higher phagocyte index and activity, immunoglobulin G (IgG), IgM, total antioxidant capacity, glutathione peroxidase activity, and superoxide dismutase activity compared with control group. Conclusion: Despite the beneficial effects of all MOLM treatments on growth performance, nutrient digestibility, physiological status, and immune response of duckling, the increasing MOLM inclusion level in the diet had deleterious effects on such studied traits, consequently 0.25% was the best MOLM inclusion level in duckling diets.