• Title/Summary/Keyword: LM test

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Does Ramzan Effect the Returns and Volatility? Evidence from GCC Share Market

  • ABRO, Asif Ali;UL MUSTAFA, Ahmed Raza;ALI, Mumtaz;NAYYAR, Youaab
    • The Journal of Asian Finance, Economics and Business
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    • v.8 no.7
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    • pp.11-19
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    • 2021
  • The study aims to investigate the impact of seasonality in Gulf Cooperation Council (GCC) countries' share market during the month of Ramadan. It helps in finding the opportunities for stock market investors to earn abnormal (returns) gain by investing during Ramadan in GCC stock markets. This study uses stock returns data of GCC countries (Saudi Arabia, Bahrain, Qatar, Kuwait, Dubai, and UAE) from January 2004 to November 2019. Stock prices indexes of GCC stock markets have been obtained from Datastream. The ARCH-GARCH model is used to study the impact of the Ramadan month on the return and volatility of the stock market in GCC countries. The results showed that the Ramadan month has a significant impact on share market prices in Saudi Arabia and the United Arab Emirates. However, Ramadan has an insignificant impact on share market prices in Bahrain and Oman. The study found no evidence of serial correlational between residuals in Kuwait; meaning that stock return was not dependent on the prior stock returns in Kuwait, therefore, we cannot go for forecasting. The ARCH-LM test statistic for Qatar does not fulfill the requirement of a good regression model; therefore, we cannot go for forecasting or testing the hypothesis of Qatar.

The ensemble approach in comparison with the diverse feature selection techniques for estimating NPPs parameters using the different learning algorithms of the feed-forward neural network

  • Moshkbar-Bakhshayesh, Khalil
    • Nuclear Engineering and Technology
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    • v.53 no.12
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    • pp.3944-3951
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    • 2021
  • Several reasons such as no free lunch theorem indicate that there is not a universal Feature selection (FS) technique that outperforms other ones. Moreover, some approaches such as using synthetic dataset, in presence of large number of FS techniques, are very tedious and time consuming task. In this study to tackle the issue of dependency of estimation accuracy on the selected FS technique, a methodology based on the heterogeneous ensemble is proposed. The performance of the major learning algorithms of neural network (i.e. the FFNN-BR, the FFNN-LM) in combination with the diverse FS techniques (i.e. the NCA, the F-test, the Kendall's tau, the Pearson, the Spearman, and the Relief) and different combination techniques of the heterogeneous ensemble (i.e. the Min, the Median, the Arithmetic mean, and the Geometric mean) are considered. The target parameters/transients of Bushehr nuclear power plant (BNPP) are examined as the case study. The results show that the Min combination technique gives the more accurate estimation. Therefore, if the number of FS techniques is m and the number of learning algorithms is n, by the heterogeneous ensemble, the search space for acceptable estimation of the target parameters may be reduced from n × m to n × 1. The proposed methodology gives a simple and practical approach for more reliable and more accurate estimation of the target parameters compared to the methods such as the use of synthetic dataset or trial and error methods.

Global Oil Prices and Exchange Rate: Evidence from the Monetary Model

  • ZAFAR, Sadaf;KHAN, Muhammad Arshad
    • The Journal of Asian Finance, Economics and Business
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    • v.9 no.1
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    • pp.189-201
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    • 2022
  • The study empirically examines the impact of monetary fundamentals along with global oil prices on the Pak-rupee exchange rate using the monthly data over 2001-2020. Employing the cointegrating vector autoregressive with exogenous variables (VARX) and vector error correction model with exogenous variables (VECMX), the study analyzes the impact of domestic monetary fundamentals while considering the foreign variables as weakly exogenous. In order to account for the structural breaks in the data, the Lagrange multiplier (LM) unit root test with two structural breaks has been used (Lee & Strazicich, 2003). The empirical results reveal that the domestic and foreign monetary variables significantly explain the exchange rate movements in Pakistan both in the long run and in the short run. The dynamic properties of the monetary model of exchange rate have been analyzed using the persistence profile analysis and generalized impulse response functions (GIRFs). The results reveal that the responses of shocks to domestic monetary fundamentals are consistent with the predictions of the monetary model of the exchange rate. Furthermore, being a net oil importer, a rise in global oil prices significantly depreciated the Pak-rupee exchange rate over the period of study. The global financial crisis (GFC) and pandemic (COVID-19) were also found to cause the Pak-rupee exchange rate depreciation.

A Study on Price Volatility and Properties of Time-series for the Tangerine Price in Jeju (제주지역 감귤가격의 시계열적 특성 및 가격변동성에 관한 연구)

  • Ko, Bong-Hyun
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.21 no.6
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    • pp.212-217
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    • 2020
  • The purpose of this study was to analyze the volatility and properties of a time series for tangerine prices in Jeju using the GARCH model of Bollerslev(1986). First, it was found that the time series for the rate of change in tangerine prices had a thicker tail rather than a normal distribution. At a significance level of 1%, the Jarque-Bera statistic led to a rejection of the null hypothesis that the distribution of the time series for the rate of change in tangerine prices is normally distributed. Second, the correlation between the time series was high based on the Ljung-Box Q statistic, which was statistically verified through the ARCH-LM test. Third, the results of the GARCH(1,1) model estimation showed statistically significant results at a significance level of 1%, except for the constant of the mean equation. The persistence parameter value of the variance equation was estimated to be close to 1, which means that there is a high possibility that a similar level of volatility will be present in the future. Finally, it is expected that the results of this study can be used as basic data to optimize the government's tangerine supply and demand control policy.

Evaluation of Tightness of Proximal tooth Contact on Implant Prostheses (임프란트 보철수복물에서의 인접치간 접촉강도의 평가)

  • Kim, Sang-Pil;Jung, J-Hyun;Kang, Dong-Wan;Oh, Sang-Ho
    • Journal of Dental Rehabilitation and Applied Science
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    • v.24 no.4
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    • pp.371-379
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    • 2008
  • The aim of this study was to evaluate the tightness of proximal tooth contact(TPTC) using a novel device at rest state on implant prostheses. Ten healthy young adults with class I normal occlusion consented to participate in the study and twenty patients were restored with a total 20 single-implant crowns in the left maxillary and mandibular second molars for 10 single-implant crowns, respectively. Test area were divided by 4 groups. UM describes the contact between the upper natural left first molar and natural second molar; LM the contact between the lower natural left first molar and natural second molar; IUM the contact between the upper natural left first molar and implant second molar and ILM the contact between the lower natural left first molar and implant second molar. The TPTC was measured at rest state in each area. The mean TPTC of the UM, LM, IUM and ILM was 1.48(${\pm}0.44$) N, 1.78(${\pm}0.40$) N, 1.14(${\pm}0.37$) N and 1.30(${\pm}0.32$) N respectively. These results indicate that the TPTC was less between natural tooth and implant prosthesis than between natural teeth.

Somatic Embryogenesis and Plant regeneration with Embryogenic Tissue Lines in Larix leptolepis (낙엽송 (Larix leptolepis) 배발생조직 라인에 따른 체세포배 유도 및 식물체 재분화)

  • Kim, Yong-Wook
    • Journal of Korean Society of Forest Science
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    • v.99 no.4
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    • pp.633-637
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    • 2010
  • This study was conducted to evaluate various effects of kinds of culture medium, concentrations of abscisic acid (ABA) or /kinds of osmotica on maturation of somatic embryos (SEs) with four (LL-L, LL-K, LL-P and LL-N) embryogenic tissue lines (ETLs) in Japanese larch (Larix leptolepis). In comparison of two culture medium, the LL-P produced the highest number of the cotyledon-staged SE (134.9/90 mg tissue) in 1/2LM medium. In contrast, no SEs were obtained except the LL-P (32.9) in medium of BLG. Effects of two concentrations of ABA in the medium with four ETL for SEs maturation were also compared. In the test of 60 or 100 ${\mu}M$ ABA, the highest result was obtained in 60 ${\mu}M$ ABA (142.9). However, the influence of ABA had little on SEs production except the LL-N regardless of concentrations of ABA. In comparison of different kinds/concentrations of osmotica, the best response was obtained from the treatment of 0.2 M maltose, the LL-K (540.5). In conclusion, the effects of production of SEs were greatly rely on the ETLs, rather than kinds of medium, concentrations of ABA or osmotica which were used in maturation of SEs.

What is the Appropriate Infusion Rate during Whitaker Test in Children? (소아 Whitaker 검사시에 적절한 관류속도는?)

  • Chung, Ky-Hyun;Lee, Gyeong-Ik
    • Childhood Kidney Diseases
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    • v.2 no.2
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    • pp.178-182
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    • 1998
  • Purpose : The conventional Whitaker test assesses the renal pelvic pressure response to a constant infusion rate of 10 mL/min in adult and 5 mL/min in children. We evaluated whether the infusion rate,5 mL/min is appropriate during Whitaker test in children. Materials and Methods : The study included 3 children with unilateral hydronephrosis, whose diuretic renography results were equivocal to define the presence of urinary obstruction. The kidneys were perfused at increasing flow rates from lmL/min. Results : There were intrapelvic pressure increases $26\;cmH_2O$ at 3 mL/min, $50\;cmH_2O$ at 2 mL/min and $80\;cmH_2O$ at 3 mL/min infusion rate, respectively. There was no need to increase the infusion rate over 4 mL/min to get a positive Whitaker test. Conclusion : Our experience with Whitaker test at variable low flow rates (1-5 mL/min) confirmed its usefulness in differentiating obstructive from nonobstructive uropathy. We recommend the increasing infusion rate from 1 mL/min during Whitaker test in children.

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EFFECT OF ELECTRICAL STIMULATION ON BONE FORMATION IN THE EXTRACTION SOCKET OF RAT (전기자극이 치조골 치유과정에 미치는 영향)

  • Yang, Seung-Han;Lee, Man-sup;Park, Joon-bong;Herr, Yeek
    • Journal of Periodontal and Implant Science
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    • v.31 no.4
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    • pp.669-687
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    • 2001
  • On the basis of the evidence that electrical stimulation could promote healing and regeneration of bone, this study was performed to investigate the effects of electrical stimulation on rat extraction socket, and to evaluate the potential of clinical application of electrical stimulation. Forty rats were used and divided into control groups(l0)and the experimental groups(30) in this study. The maxillary 1st molar were extracted in both groups. In experimental group, electrical stimulation was given at the current intensity of lmA(Test-1), l0mA(Test-2), 25mA(Test-3) each day. At 1,3,5,7 days after the tooth extraction, rats in both groups were serially sacrificed. And the specimens were prepared with Hematoxylin-Eosin stain for the light microscopic evaluation. The results of this study were as follows; 1. At 1 day after the extraction, the periodontal ligament was found in the extraction socket wall. The formation of blood clot with dense infiltration of inflammatory cells in control group and there were less inflammatory cells in test group. 2. At 3 day after the extraction, the cells and collagen of the periodontal ligament were so actively proliferated and synthesized that invaded into the connective tissue of the extraction sockets in the control group. There were the formation of new bone in the basal & lateral portion of socket wall in test -2 and -3. 3. At 5 days after the extraction, there were no formation of new bone in control group. But the more electrical stimulation was applied, the more formation of new bone in test group. 4. At 7 days after the extraction, the extraction sockets were almost filled with trabecular bone in each group. Bone maturarity was remarkable in test-3. 5. The electrical stimulation at l0mA and 25mA was more effective in the bone formation at 5 and 7 days after the extraction. From the above results, electrical stimulation could promote the extraction socket wound healing, and be utilized in the clinical application of the residual ridge expansion.

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Study on Effects of Meteorological Elements in the Grain Production of Korea (우리나라 곡물류 생산량에 기상요소의 영향에 관한 연구)

  • Chang, Young-Jae;Lee, Joong-Woo;Park, Jong-Kil;Park, Heung Jai
    • Journal of Environmental Science International
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    • v.24 no.3
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    • pp.281-290
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    • 2015
  • Recent climate change has led to fluctuations in agricultural production, and as a result national food supply has become an important strategic factor in economic policy. As such, in this study, panel data was collected to analyze the effects of seven meteorological elements on the production of five types of grain with error component panel data regression method following the test results of LM tests, Hausman test. The key factors affecting the production of rice were average temperature, average relative humidity and average ground surface temperature. The fluctuations in the other four grains types are not well explained by meterological elements. For other grains and beans, only average temperature and time (year) affect the production of other grains while average temperature, ground surface temperature, and time (year) influence the production of beans. For barley and millet, only average temperature positively affects the production of barley while ground surface temperature and time (year) negatively influence the production of millet. The implications of this study are as follow. First, it was confirmed that the meteorological elements have profound effects on the rice production. Second, when compared to existing studies, this study was not limited to rice but encompassed all five types of grains and went beyond other studies that were limited to temperature and rainfall to include various meteorological elements.

The Modern Culture's Ontology based E-Learning System (현대문학 온톨리지 기반의 이러닝 시스템)

  • Jeong, Hwa-Young;Ko, In-Hwan
    • Journal of Digital Convergence
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    • v.10 no.11
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    • pp.337-342
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    • 2012
  • The modern culture has changing its type, characteristic and genre by the times. And the modern culture has providing good resources to reader that he/she can see the times. Recently, the modern culture has changed the providing method for reader. That is, the attempt is to provide the various and many literary works to reader as the digital devices or the types of content. In this paper, we propose e-learning system based on a modern literary work's ontology. And we provide this system to reader for supporting easy and diverse process to reader. The modern literary work's contents in this system is processed by SCORM, and we construct LMS and LCMS. In order to evaluate this system, we construct the test group by 80 people, and we show the efficiency of this system process with modern literary work by the test.