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An Empirical Study on Korean Stock Market using Firm Characteristic Model (한국주식시장에서 기업특성모형 적용에 관한 실증연구)

  • Kim, Soo-Kyung;Park, Jong-Hae;Byun, Young-Tae;Kim, Tae-Hyuk
    • Management & Information Systems Review
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    • v.29 no.2
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    • pp.1-25
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    • 2010
  • This study attempted to empirically test the determinants of stock returns in Korean stock market applying multi-factor model proposed by Haugen and Baker(1996). Regression models were developed using 16 variables related to liquidity, risk, historical price, price level, and profitability as independent variables and 690 stock monthly returns as dependent variable. For the statistical analysis, the data were collected from the Kis Value database and the tests of forecasting power in this study minimized various possible bias discussed in the literature as possible. The statistical results indicated that: 1) Liquidity, one-month excess return, three-month excess return, PER, ROE, and volatility of total return affect stock returns simultaneously. 2) Liquidity, one-month excess return, three-month excess return, six-month excess return, PSR, PBR, ROE, and EPS have an antecedent influence on stock returns. Meanwhile, realized returns of decile portfolios increase in proportion to predicted returns. This results supported previous study by Haugen and Baker(1996) and indicated that firm-characteristic model can better predict stock returns than CAPM. 3) The firm-characteristic model has better predictive power than Fama-French three-factor model, which indicates that a portfolio constructed based on this model can achieve excess return. This study found that expected return factor models are accurate, which is consistent with other countries' results. There exists a surprising degree of commonality in the factors that are most important in determining the expected returns among different stocks.

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Development of Manual Multi-Leaf Collimator for Proton Therapy in National Cancer Center (국립암센터의 양성자 치료를 위한 수동형 다엽 콜리메이터 개발)

  • Lee, Nuri;Kim, Tae Yoon;Kang, Dong Yun;Choi, Jae Hyock;Jeong, Jong Hwi;Shin, Dongho;Lim, Young Kyung;Park, Jeonghoon;Kim, Tae Hyun;Lee, Se Byeong
    • Progress in Medical Physics
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    • v.26 no.4
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    • pp.250-257
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    • 2015
  • Multi-leaf collimator (MLC) systems are frequently used to deliver photon-based radiation, and allow conformal shaping of treatment beams. Many proton beam centers currently make use of aperture and snout systems, which involve use of a snout to shape and focus the proton beam, a brass aperture to modify field shape, and an acrylic compensator to modulate depth. However, it needs a lot of time and cost of preparing treatment, therefore, we developed the manual MLC for solving this problem. This study was carried out with the intent of designing an MLC system as an alternative to an aperture block system. Radio-activation and dose due to primary proton beam leakage and the presence of secondary neutrons were taken into account during these iterations. Analytical calculations were used to study the effects of leaf material on activation. We have fabricated tray model for adoption with a wobbling snout ($30{\times}40cm^2$) system which used uniform scanning beam. We designed the manual MLC and tray and can reduce the cost and time for treatment. After leakage test of new tray, we upgrade the tray with brass and made the safety tool. First, we have tested the radio-activation with usually brass and new brass for new manual MLC. It shows similar behavior and decay trend. In addition, we have measured the leakage test of a gantry with new tray and MLC tray, while we exposed the high energy with full modulation process on film dosimetry. The radiation leakage is less than 1%. From these results, we have developed the design of the tray and upgrade for safety. Through the radio-activation behavior, we figure out the proton beam leakage level of safety, where there detects the secondary particle, including neutron. After developing new design of the tray, it will be able to reduce the time and cost of proton treatment. Finally, we have applied in clinic test with original brass aperture and manual MLC and calculated the gamma index, 99.74% between them.

Molecular Epidemiologic Study of a Methicillin-resistant Staphylococcus aureus Outbreak at a Newborn Nursery and Neonatal Intensive Care Unit

  • Kang, Hyun Mi;Park, Ki Cheol;Lee, Kyung-Yil;Park, Joonhong;Park, Sun Hee;Lee, Dong-Gun;Kim, Jong-Hyun
    • Pediatric Infection and Vaccine
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    • v.26 no.3
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    • pp.148-160
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    • 2019
  • Purpose: This study aimed to investigate the molecular epidemiology of a methicillin-resistant Staphylococcus aureus (MRSA) outbreak at a newborn nursery and neonatal intensive care unit (NICU). Methods: During the outbreak, from August to September 2017, MRSA isolates collected from neonates and medical staff underwent genotyping and screened for virulence factors. Antibiotic susceptibilities were tested. Results: During the study period, 41 neonates were admitted at the nursery (n=27) and NICU (n=14). Of these, 7 had MRSA infections (skin infection [n=6] and sepsis [n=1]) and 4 were colonized with MRSA. Associated medical staff (n=32) were screened; three were nasal MRSA carriers. Staphylococcal chromosomal cassette mec (SCCmec) type II, sequence type (ST) 89, spa type t375 was found to be the skin infection outbreak causing strain, with multi-drug resistance including low-level mupirocin resistance. SCCmec type IVa, ST 72, and a novel spa type designated t17879, was the cause of MRSA sepsis. Many different types of MRSA were colonized on the neonates; however, SCCmec type IVa, ST 72, spa type t664 was colonized in both neonates and a NICU nurse. All MRSA isolates from colonized infants were positive for the Panton-Valentine leukocidin (PVL) toxin gene. Conclusions: The strain causing an outbreak of skin infections had multi-drug resistance. Also, MRSA colonized in the neonates were found to carry the PVL toxin gene. Because different strains are present during an outbreak, molecular epidemiologic studies are important to identify the outbreak strain and colonized strains which aid in effective control and prevention of future MRSA outbreaks.

Experimental Research on the Power Improvement by Increasing Intake pressure in a 1.4 L Turbocharged CNG Port Injection Spark Ignition Engine (1.4L 급 터보 CNG 엔진에서 흡기압력 상승에 따른 출력 증대 효과에 관한 연구)

  • Lee, Jeong-Woo;Park, Cheol-Woong;Bae, Jong-Won;Kim, Chang-Gi;Lee, Sun-Youp;Kim, Yong-Rae
    • Journal of the Korean Institute of Gas
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    • v.23 no.6
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    • pp.90-96
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    • 2019
  • Natural gas has been regarded as one of major alternative fuels, because of the increment of mining shale gas and supplying PNG(Pipeline Natural Gas) from Russia. Thus, it needs to broaden the usage of natural gas as the increasing its supplement. In this situation, application of natural gas on the transport area is a good suggestion to reduce exhaust emissions such as CO2(carbon dioxides) and soot from vehicles. For this reason, natural gas can be applied to SI(spark ignition) engines due to its anti-knocking and low auto-ignitibility characteristics. Recently, since turbocharged SI engine has been widely used, it needs to apply natural gas on the turbocharged SI engine. However, there is a major challenge for using natural gas on turbocharged SI engine, because it is hard to make natural gas direct injection in the cylinder, while gasoline is possible. As a result, there is a loss of fresh air when natural gas is injected by MPI (multi-point injection) method under the same intake pressure with gasoline-fueled condition. It brings the power reduction. Therefore, in this research, intake pressure was increased by controling the turbocharger system under natural gas-fueled condition to improve power output. The goal of improved power is the same level with that of gasoline-fueled condition under the maximum torque condition of each engine speed. As a result, the maximum power levels, which are the same with those of gasoline-fueled conditions, with improved brake thermal efficiency could be achieved for each engine speed (from 2,000 to 6,000 rpm) by increasing intake pressure 5-27 % compared to those of gasoline-fueled conditions.

Multi-element Ultrasound Applicator for the Treatment of Cancer in Uterus and Cervix (자궁암 치료용 다채널 초음파 온열치료기)

  • Lee Rena
    • Progress in Medical Physics
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    • v.16 no.1
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    • pp.16-23
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    • 2005
  • The objective of this study was to construct multi-element ultrasound applicators for the treatment of gynecologic cancer with high dose rate brachytherapy. For the treatment of uterus, piezo-ceramic crystal transducer (PZT -5A) with outer diameter of 4 mm, wall thickness of 1.3 mm, and length of 24.5 mm was selected. For the treatment of cervix or vagina, it should be possible to insert the applicator into the vagina. Thus, a cylindrical PZT -8 material with outer diameter of 24.5 mm, wall thickness of 1.3 mm, and length of 15.2 mm was selected. The operating frequencies determined by vector impedance measurement were 3.2 MHz for the PZT 5A cylinder (OD=4 mm) and 1.7 MHz for the PZT -8 cylinder (OD: 24.5 mm). The ratios of generated acoustic output power to applied electric power were 33% and 61% for the tandem type crystal and the cylinder type crystal, respectively. The radiated acoustic pressure fields from both transducers were calculated using a Matlab code and measured in water using hydrophone. There was good agreement between measured and calculated acoustic pressure field distribution. For a tandem type transducer, the calculated acoustic pressure field decreased from 0.023 MPa at 10 mm to 0.010 Mpa at 30 mm, the reduction of 57%. For the cylinder type transducer which will be used for the treatment of vagina showed 78% reduction at 15 mm and 66% at 25 mm as compared to values at 5 mm from the surface. Based on the characteristics of the transducers, this study demonstrated the possibility of using the crystals as a heating source. Finally, a 3-element and 4-element prototype applicators were constructed. The 3-element applicator is 75 mm long and 4 mm thick and will be used for the treatment of uterus. The 4-element applicator is 61 mm long and 24.5 mm thick and will be used for the treatment of vagina. Using these applicators, it is possible to generate enough power to increase temperature to therapeutic level.

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The Secondary School Education of Geography and the System of Teacher Training in Belgium - Focused on the Case of Francophone Community - (벨지움의 중등학교 지리교육 내용과 교사양성제도 - 프랑코폰 공동체를 사례로 -)

  • Kwak, Chul-Hong
    • Journal of the Korean association of regional geographers
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    • v.6 no.3
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    • pp.101-115
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    • 2000
  • This study aims to make a research on the secondary school education of geography and the system of teacher training in Belgium, focused on the case of Francophone Community. What has been made clear by this research can be summed up as follows. The first two years of the secondary school offer two hours of 'environment education', per week, which can be categorized into the learning of living geography, in that at this stage students learn how to observe the geographic phenomena in their daily life and pigeonhole them. The two years of the second stage of the secondary school offer one hour of 'world geography' which actually is focused on the district of Europe and Russia. The two years of the third stage of the secondary school offer an advanced course of geography which aims to teach systematically the physical geography and the human geography. A remarkable change in geographic education in Belgium is that in the wake of the Revision Act of the secondary school education, textbooks were replaced by other teaching manuals adapted to the regional condition by the teachers. This may result in a wide gap of achievements in geography according to the conditions of educational establishments. Another notable change is that the stress of geographic education tends to be placed on the ability of acquiring practical geographic knowledge rather than the geographic information itself. And it is also another marked tendency that most learning activities in geography class are conducted on the basis of student-centered and the method of investigation. Teachers of the lower secondary schools in Belgium are trained in the School of Education as multi-major teachers, such as a teacher for biology-chemistry-geography or a teacher for history-sociology-geography. Teachers of the higher secondary school education are trained in the Department of Teacher Education in universities as solo-major teachers in that they are required to know more deeply to teach an advanced course of geography in the higher secondary schools. To improve the teacher education many folds of policies are adopted. One is that many in-service teachers are officially put into services of guiding and teaching teacher training. Another is that faculty members in charge of teacher training course are trying to level up the qualifications of teachers by rigorous disciplining.

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Study on Amenity and Economical Efficiency of Multi-functionality on the Grassland (초지형 축산의 어메니티 및 경제성 평가에 관한 연구)

  • Cheon, D.W.;Lee, S.Y.;Park, M.S.;Park, H.S.;Hwang, K.J.;Yun, S.H.;Ko, M.S.
    • Journal of The Korean Society of Grassland and Forage Science
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    • v.27 no.4
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    • pp.297-312
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    • 2007
  • This study is conducted to evaluate economical value of Jeju grassland and validity of its preservation, and draw up several measures to support. To measure its economical value, this study examined its environmental value and social and cultural value. For environmental value, this study used replacement method while it applied CVM method, a widely used method, to assess social and cultural value and two-level two-best choice selection method, which ask questions by assuming virtual circumstances to avoid reflecting some biased opinions. Jeju grassland has multiple functions-environmental functions such as preventing soil corrosion and flood, handling animal excrement, and purifying air, and social and cultural functions such as promoting physical and mental health and providing recreation places. From the results of the feasibility study, Jeju grassland's annual multiple functions are assessed to have a total $397,115{\sim}418,995$ million won worth. In addition, it is found that Jeju visitors recognize Jeju grassland for its functions to contribute to public interests. That is, they think it can provide attractive views and educational and recreational places and promote emotional development. Especially, many people presented their ideas that it be continuously preserved since it is worthwhile for us and our next generations. To preserve grassland's cultural resource, which create a huge economic value like this, the Government has to support a certain amount of financial aid for turning to a better grassland environment and its maintenance to realize environment-friendly livestock farming on Jeju Island and promote its tourism industry and consequently, add more value to Jeju.

Intracullular Functions of the mas2+ Gene in the Fission Yeast, Schizosaccharomyces pombe (분열형 효모에서의 mas2+ 유전자의 세포 내 기능)

  • Sin, Sang-Min;Cha, Jae-Young;Ha, Se-Eun;Sim, Sun-Mi;Kim, Hyoung-Do;Lee, Jung-Sup;Park, Jong-Kun
    • Journal of Life Science
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    • v.19 no.1
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    • pp.101-110
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    • 2009
  • The regulation of gene expression plays an important role in cell cycle controls. In this study, a novel $mas2^+$ (mitosis associated protein) gene, a homolog of human SMARCAD1 was isolated and characterized from a fission yeast Schizosaccharomyces pombe (S. pombe) using gene-specific polymerase chain reaction. The isolated gene contained a complete open reading frame capable of encoding 922 amino acid residues with a typical promoter, as judged by nucleotide sequence analysis. It was also found that an SNF2 domain is located, which is involved in the chromosome remodeling. The quantitative analysis of the $mas2^+$ transcript against $adh1^+$ showed that the expression level of $mas2^+$ is high before septum formation in S. pombe. When $mas2^+$ null mutant cells were grown at 27 and $35^{\circ}C$, the cytokinesis of $mas2^+$ null mutant was greatly delayed and a large number of multi-septate and mis-segregated cells were produced. In addition, the number of multi-septate cells significantly increased. When cells were cultured in YES rich medium to increase proliferation, the abnormal phenotypes $mas2^+$ null mutant dramatically increased. These phenotypes could be rescued by an over-expression of the mast gene. The Mas2 protein localized in the nuclei of S. pombe, as evidenced by Mas2-EGFP signals. These results suggest that the $mas2^+$ is homologous to human SMARCAD1 gene and involved in septum formation and chromosome remodeling control.

Comparison of Population Monitoring Methods for Breeding Forest Birds in Korean Temperate Mixed Forests (국내 온대 혼효림에 서식하는 산림성 조류의 번식기 개체군 모니터링 방법에 대한 비교)

  • Nam, Hyun-Young;Choi, Chang-Yong;Park, Jin-Young;Hur, Wee-Haeng
    • Journal of Korean Society of Forest Science
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    • v.108 no.4
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    • pp.663-674
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    • 2019
  • Birds are effective ecological indicators but there is no national protocol in place to monitor population dynamics of forest birds in Korea. To support the establishment of future monitoring protocols, we compared the results of two generally used monitoring methods for forest bird surveys in two temperate mixed forests in central Korea. There was no statistical difference in the number of species and individuals detected per unit survey effort when comparing line transects and point counts. The number of species and individuals were higher in a five-minute count than in a three-minute point count, but the total accumulated number of expected observed species showed no difference between the two count durations. The number of observed species and individuals increased in both methods as plot radius or transect width increased, suggesting that multi-layer or multi-band surveys may be useful for quantitative and qualitative objectives. The decreasing number of observed species and individuals after sunrise suggested that bird monitoring should be conducted earlier in the morning, within four hours after sunrise. To detect 70% of the total number of species, 7.0 to 7.6 survey hours, equivalent to 42 three-minute counts (95% confidence interval [CI]: 26 to 61) or 33 five-minute counts (95% CI: 19 to 53) were needed for unlimited radius point counts. On the other hand, 4.8 survey hours, equivalent to 26 line transect counts (95% CI: 15 to 45) using 200-m transects with unlimited width, were required to achieve the same level of species detection. Therefore, the line transect method may be more effective than the point count method, at least in terms of local species richness assessment. For national forest bird monitoring, our data indicated that one or both survey methods can be selected as a basic protocol, based on the goals and scales of monitoring, forest types, and the conditions of the target areas.

Comparative Analysis of ViSCa Platform-based Mobile Payment Service with other Cases (스마트카드 가상화(ViSCa) 플랫폼 기반 모바일 결제 서비스 제안 및 타 사례와의 비교분석)

  • Lee, June-Yeop;Lee, Kyoung-Jun
    • Journal of Intelligence and Information Systems
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    • v.20 no.2
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    • pp.163-178
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    • 2014
  • Following research proposes "Virtualization of Smart Cards (ViSCa)" which is a security system that aims to provide a multi-device platform for the deployment of services that require a strong security protocol, both for the access & authentication and execution of its applications and focuses on analyzing Virtualization of Smart Cards (ViSCa) platform-based mobile payment service by comparing with other similar cases. At the present day, the appearance of new ICT, the diffusion of new user devices (such as smartphones, tablet PC, and so on) and the growth of internet penetration rate are creating many world-shaking services yet in the most of these applications' private information has to be shared, which means that security breaches and illegal access to that information are real threats that have to be solved. Also mobile payment service is, one of the innovative services, has same issues which are real threats for users because mobile payment service sometimes requires user identification, an authentication procedure and confidential data sharing. Thus, an extra layer of security is needed in their communication and execution protocols. The Virtualization of Smart Cards (ViSCa), concept is a holistic approach and centralized management for a security system that pursues to provide a ubiquitous multi-device platform for the arrangement of mobile payment services that demand a powerful security protocol, both for the access & authentication and execution of its applications. In this sense, Virtualization of Smart Cards (ViSCa) offers full interoperability and full access from any user device without any loss of security. The concept prevents possible attacks by third parties, guaranteeing the confidentiality of personal data, bank accounts or private financial information. The Virtualization of Smart Cards (ViSCa) concept is split in two different phases: the execution of the user authentication protocol on the user device and the cloud architecture that executes the secure application. Thus, the secure service access is guaranteed at anytime, anywhere and through any device supporting previously required security mechanisms. The security level is improved by using virtualization technology in the cloud. This virtualization technology is used terminal virtualization to virtualize smart card hardware and thrive to manage virtualized smart cards as a whole, through mobile cloud technology in Virtualization of Smart Cards (ViSCa) platform-based mobile payment service. This entire process is referred to as Smart Card as a Service (SCaaS). Virtualization of Smart Cards (ViSCa) platform-based mobile payment service virtualizes smart card, which is used as payment mean, and loads it in to the mobile cloud. Authentication takes place through application and helps log on to mobile cloud and chooses one of virtualized smart card as a payment method. To decide the scope of the research, which is comparing Virtualization of Smart Cards (ViSCa) platform-based mobile payment service with other similar cases, we categorized the prior researches' mobile payment service groups into distinct feature and service type. Both groups store credit card's data in the mobile device and settle the payment process at the offline market. By the location where the electronic financial transaction information (data) is stored, the groups can be categorized into two main service types. First is "App Method" which loads the data in the server connected to the application. Second "Mobile Card Method" stores its data in the Integrated Circuit (IC) chip, which holds financial transaction data, which is inbuilt in the mobile device secure element (SE). Through prior researches on accept factors of mobile payment service and its market environment, we came up with six key factors of comparative analysis which are economic, generality, security, convenience(ease of use), applicability and efficiency. Within the chosen group, we compared and analyzed the selected cases and Virtualization of Smart Cards (ViSCa) platform-based mobile payment service.