• The Journal of Asian Finance, Economics and Business
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• v.8 no.5
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• pp.109-115
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• 2021

This study aims to examine the effect of Operating Costs and Income, Loan to Deposit Ratio on the Return on Asset (ROA) of Public-Private Foreign Exchange Banks listed on the Indonesia Stock Exchange (IDX) during the 2015-2018 period. This study is a quantitative study using financial reports of Public-Private Foreign Exchange Banks listed on the IDX as a data source. This study's population is 25 Public-Private Foreign Exchange Banks listed on the IDX. This study uses purposive sampling to determine the sample to produce 21 banking companies. Data was analyzed using multiple linear regression methods and descriptive statistics. The F Test calculation results state that all the variables of free operating expenses, operating income, and the loan to deposit ratio simultaneously and significantly affect the return on assets (ROA) variable in Public-Private Foreign Exchange Banks listed on the IDX. This study's results indicate that simultaneously Operational Costs, Operational Income, and Loan to Deposit Ratio have a significant effect on ROA. Operational Costs and Operational Income have a significant negative impact on Return on Assets. The third hypothesis shows that the Loan to Deposit Ratio has a positive and insignificant effect on Return on Assets.

• The Journal of Information Systems
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• v.14 no.1
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• pp.107-124
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• 2005

ERP systems are comprehensive sorfware packages that seek to integrate the complete range of lbusiness processes and functions in order to present a heuristic perspectives of a firm from a single information and information technlogy architecture. The ERP systems have delicate internal controls with built-in devices. It is known that the delicate internal controls help to enhance the accounting transparency. We empirically investigate the relationship between the ERP systems inplementations and an accounting transparency. In order to measure the accounting transparency differences, we compare the ERP systems implementation firms with firms which did not implement the ERP systems by 6 financial ratios (accruals, net profit margin, operation cash folo to sales, total debt to equity, accounts receivable changes, assets quality). Data are collecte from 135 firms implemented the ERP systems and 135 firms non-implemented the systems (the firms listed in the Korea Stock Exchange). We analyze financial statements from 270 firms for the period 2001-2003 to ezamine the 6 financial ratios differences. The results of 810 firms analyses over the 3-year period indicate that the ERP systems implementation firms show the statistically significant differences in the accrual ratio, the net profit margin ratio, operating cash flow to sales ratio, and total debt to equity ratio from the ERP systems non-implementation firms. But there is statistically no differences between the two groups for accounts receivable changes to sales ratio and assets quality.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.7
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• pp.469-476
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• 2021

This study aims to examine and measure the impact of capital structure on the profitability of companies in emerging markets. The research sample includes eighteen rubber companies listed on the Vietnam stock exchange from 2015-2019. After collecting the research data, it was imported into excel to calculate the criteria for the research model. By using Stata 16 software, the study selected a data processing model and evaluated the relevance of the regression analysis model. The research results show that the profitability of listed rubber companies in Vietnam (measured by return on equity (ROE) has a positive relationship with the debt-to-asset ratio but has a negative relationship with the long-term debt-to-asset ratio. The results also show a positive impact of firm size and revenue growth on profitability while liquidity and the ratio of tangible fixed assets to total assets do not affect significantly. These results are consistent with most of the previously published studies. However, in contrast to many previous studies, our study shows that the long-term debt-to-assets ratio has a negative effect on profitability while the debt-to-asset ratio has a positive effect. This is entirely consistent with the characteristics of long-term debt use in emerging markets.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.19 no.37
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• pp.195-199
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• 1996

The objectives of this study are to analyze, based upon agency theory, empirically the relevance between ownership structure and corporate performance. In this study, samples are 285 firms listed in Korea stock exchage from 1990 to 1994. The results of this empirical test are summarized as follows : Insider-equity ratio of firm in Korea has been positively correlated with performance of corporate. This study intended to present the desirable implecations for seperation of ownership and management.

• Korean Journal of Poultry Science
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• v.49 no.4
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• pp.239-246
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• 2022

This study was conducted to investigate the effects of dietary γ-aminobutyric acid (GABA) and a probiotic mixture on egg production and quality, blood parameters, and stress levels (corticosterone) in Hy-Line parent stock during summer in Korea. A total of 105 Hy-Line parent stock aged 24 weeks were randomly divided into three groups, each containing thirty-five birds: control, γ-aminobutyric acid (GABA), and probiotics (1 × 10⁸/g Bacillus licheniformis, 1 × 10⁷/g Lactobacillus plantarum, and 1 × 10⁷/g Corynebacterium butyricum). The hens were fed a diet containing 50 ppm GABA or 0.1% probiotics for 6 weeks. Compared with the control group, the hen-day egg production, egg mass, and feed conversion ratio over the total period were significantly higher in the probiotic group (P<0.05). In contrast no significant differences were detected among groups with respect to egg weight, albumen height, Haugh units, yolk color, shell thickness or shell strength. Similarly, no significant difference were observed among groups with regards to biochemical profile (total cholesterol, triglyceride, glucose, total protein, aspartate aminotransferase, alanine aminotransferase, albumin, and inorganic phosphorus). However, compared with the control group, we did detect significant reductions in corticosterone levels in the GABA and probiotics groups (P<0.05). On the basis of our findings in this study, it would appear that dietary GABA and probiotics can alleviate heat stress in Hy-Line parent stock, with probiotics in particular being found to promote significant improvements in the hen-day egg production, egg mass, and feed conversion of laying hens during the summer season in Korea.

• Korean Journal of Poultry Science
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• v.47 no.1
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• pp.1-7
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• 2020

The effect of stocking density on the growth and meat quality of native Korean chickens was investigated. A total of 364 one-day-old native Korean chickens were randomly assigned to one of 5 treatments, each of which was replicated 4 times. Five distinct stocking densities-14, 15, 16, 18, and 22 birds/㎡-were compared. The diet was fed ad libitum for 10 weeks. Results indicated that the final body weight, body weight gain, and feed intake were lower (P<0.05) for the 22 birds/㎡ stock density as compared to the other stock densities. There was no significant difference in the feed conversion ratio, proximate analysis (DM, crude protein, crude fat, and crude ash), water-holding capacity, and cooking loss among the different stock densities. These results indicate that increasing the stock density to 22 birds/㎡ elicits some negative effects on the growth performance and meat quality of Korean-native chickens.

• Management & Information Systems Review
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• v.12
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• pp.137-160
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• 2003

The association between accounting earnings and the stock price of an entity is the subject that has been most heavily researched during the past 25 years in accounting literature. Researcher's common finding is that there are positive relationships between accounting earnings and stock prices. However, the explanatory power of accounting earnings which was measured by $R^2$ of regression functions used was rather low. To be connected with these low results, The prior studies propose that there will be additional information, errors in variables. This study investigates empirically determinants of earnings response coefficients(ERCs), which measure the correlation between earnings and stock prices, using earnings level / change, as the dependent variable in the return/earnings regression. Specifically, the thesis tests whether the factors such as earnings persistence, growth, systematic risk, image, information asymmetry and firm size. specially, the determinable variables of ERC are explained in detail. The image / information asymmetry variables are selected to be connected with additional information stand point, The debt / growth variables are selected to be connected with errors in variables. In this study, The sample of firms, listed in Korean Stock Exchange was drawn from the KIS-DATA and was required to meet the following criteria: (1) Annual accounting earnings were available over the 1986-1999 period on the KIS-FAS to allow computation of variables parameter; (2) sufficient return data for estimation of market model parameters were available on the KIS-SMAT month returns: (3) each firm had a fiscal year ending in December throughout the study period. Implementation of these criteria yielded a sample of 1,141 firm-year observation over the 10-year(1990-1999) period. A conventional regression specification would use stock returns(abnormal returns) as a dependent variable and accounting earnings(unexpected earnings) changes interacted with other factors as independent variables. In this study, I examined the relation between other factors and the RRC by using reverse regression. For an empirical test, eight hypotheses(including six lower-hypotheses) were tested. The results of the performed empirical analysis can be summarized as follows; The first, The relationship between persistence of earnings and ERC have significance of each by itself, this result accord with one of the prior studies. The second, The relationship between growth and ERC have not significance. The third, The relationship between image and ERC have significance of each by itself, but a forecast code doesn't present. This fact shows that image cost does not effect on market management share, is used to prevent market occupancy decrease. The fourth, The relationship between information asymmetry variable and ERC have significance of each by. The fifth, The relationship between systematic risk$(\beta)$ and ERC have not significance. The sixth, The relationship between debt ratio and ERC have significance of each by itself, but a forecast code doesn't present. This fact is judged that it is due to the effect of financial leverage effect and a tendency of interest.

• Journal of the Korea Society of Computer and Information
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• v.27 no.11
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• pp.147-155
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• 2022

In this study, we developed a system to dynamically balance a daily stock portfolio and performed trading simulations using gradient boosting and genetic algorithms. We collected various stock market data from stocks listed on the KOSPI and KOSDAQ markets, including investor-specific transaction data. Subsequently, we indexed the data as a preprocessing step, and used feature engineering to modify and generate variables for training. First, we experimentally compared the performance of three popular gradient boosting algorithms in terms of accuracy, precision, recall, and F1-score, including XGBoost, LightGBM, and CatBoost. Based on the results, in a second experiment, we used a LightGBM model trained on the collected data along with genetic algorithms to predict and select stocks with a high daily probability of profit. We also conducted simulations of trading during the period of the testing data to analyze the performance of the proposed approach compared with the KOSPI and KOSDAQ indices in terms of the CAGR (Compound Annual Growth Rate), MDD (Maximum Draw Down), Sharpe ratio, and volatility. The results showed that the proposed strategies outperformed those employed by the Korean stock market in terms of all performance metrics. Moreover, our proposed LightGBM model with a genetic algorithm exhibited competitive performance in predicting stock price movements.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.3
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• pp.203-215
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• 2022

Bayesian Networks are multivariate probabilistic factor graphs that are used to assess underlying factor relationships. From January 2005 to December 2018, the study examines how Dynamic Bayesian Networks can be utilized to estimate portfolio risk and return as well as determine inter-factor relationships among reversal profit-generating components in Pakistan's emerging market (PSX). The goal of this article is to uncover the factors that cause reversal profits in the Pakistani stock market. In visual form, Bayesian networks can generate causal and inferential probabilistic relationships. Investors might update their stock return values in the network simultaneously with fresh market information, resulting in a dynamic shift in portfolio risk distribution across the networks. The findings show that investments in low net profit margin, low investment, and high volatility-based designed portfolios yield the biggest dynamical reversal profits. The main triggering aspects related to generation reversal profits in the Pakistan market, in the long run, are net profit margin, market risk premium, investment, size, and volatility factor. Investors should invest in and build portfolios with small companies that have a low price-to-earnings ratio, small earnings per share, and minimal volatility, according to the most likely explanation.

• Journal of Nutrition and Health
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• v.27 no.4
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• pp.323-335
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• 1994

The present study was carried out in normocholesterolemic New Zealand white(NZW) rabbit, to evaluate the effect of dietary supplementation with Korean pinenut oil, on plasma lipids, plasma lipoproteins, liver lipids and platelet aggregation. NZW rabbits were fed for 80 days on a commercial chow diet supplemented with 5% of energy as fats(soybean oil or pinenut oil) or 10% of energy as fats(soybean oil or pinenut oil). A control group was fed a commercial stock diet. There were no significant effects of pinenut oil on plasma free cholesterol, HDL-cholesterol, triglycerides, glucose and lecithin-cholesterol acyltransferase, as compared with those obtained from rabbits fed the soybean oil diet. After 80 days, the concentration of plasma free fatty acid in only the pinenut oil group was significantly decreased by about 50% relative to the control diet. At the end of the dietary treatment, liver triglycerides and phospholipids were significantly decreased in the pinenut oil group, compared to the how diet, whereas the soybean oil-consuming rabbits had only significantly decreased phospholipid levels. Cholesterol contents of liver were unaffected by type of dietary fat. At the end of 80 days, a diet containing pinenut oil resulted in a decrease in apolipoprotein B and the apo B/apo AI ratio as compared with the stock diet or soybean oil diet. Platelet aggregation induced by collagen or arachidonic acid was depressed significantily in pinenut oil diet.