• Title/Summary/Keyword: Negative Skewness

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Experimental investigation on the turbulent elliptic jets by using a 3-D LDV system (3-D LDV 시스템을 이용한 타원제트의 난류특성에 관한 연구)

  • 권영철;이상준
    • Transactions of the Korean Society of Mechanical Engineers
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    • v.15 no.6
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    • pp.2160-2170
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    • 1991
  • Three-dimensional turbulent structures in the near field of elliptic jet were experimentally investigated by using a three-color, three-component Laser Doppler Velocimeter. The Reynolds number based on the nozzle exit velocity and nozzle equivalent diameter(De) was about 4*10$^{4}$. The turbulent characteristics of a sharp-edged elliptic nozzle with aspect ratio of 2 were analyzed along major and minor axis at X/De=2,3,5,7 and along the centerline up to X/De=14. Quantities measured at each point with the 3-D LDV system were three orthogonal velocity components, turbulent intensity, skewness, flatness, and Reynolds shear stress. The nondimensional mean velocities coincided well with the Schlichting's empirical curve with going downstream. Elliptic jet of AR=2 had two switching points at about X/De=2 and 16. The turbulent intensity along the minor axis was distributed widely than that along the major axis. In the near field, X/De<5, the Reynolds shear stresses of the inner part of the elliptic jet had negative value, which indicated the enhancement of entrainment toward the inner part.

Factors Influencing the Initiation of Treatment after the Diagnosis of Korean Patients with HIV (HIV 감염인의 진단 후 치료 시작에 영향을 미치는 요인)

  • Shim, Mi-So;Kim, Gwang Suk;Park, Chang Gi
    • Research in Community and Public Health Nursing
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    • v.29 no.3
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    • pp.279-289
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    • 2018
  • Purpose: This study has been conducted to identify factors that influence the initiation of treatment after the diagnosis of Korean patients with HIV. Methods: A cross-sectional study design was used, and 290 patients with HIV from outpatient departments of 7 hospitals participated. Self-report questionnaires included items on the days from the primary diagnosis to the initiation of treatment, and the patients' demographic and disease related characteristics. Negative binomial regression model (NBR) was utilized to determine risk factors influencing the initiation of treatment after the diagnosis of the patients with HIV. Results: The skewness of days was 6.62, and the degree of asymmetry of distribution was severe. In NBR, patients who were in their 40s and 50s, female, unmarried and living with their family, jobless, in a middle or high level of economic status, and diagnosed before 2014 showed a higher risk of delayed treatment than patients who were younger, male, married and living with family, in a low level of economic status, and diagnosed in 2014 or afterwards. Conclusion: The findings suggest the necessity of intervention to promote HIV patients' early entry into treatment based on the participants' characteristics.

Nominal Price Anomaly in Emerging Markets: Risk or Mispricing?

  • HOANG, Lai Trung;PHAN, Trang Thu;TA, Linh Nhat
    • The Journal of Asian Finance, Economics and Business
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    • v.7 no.9
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    • pp.125-134
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    • 2020
  • This study examines the nominal price anomaly in the Vietnamese stock market, that is, whether stocks with low nominal price outperform stocks with high nominal price. Using a sample of all 351 companies listed on the Ho Chi Minh Stock Exchange (HOSE) from June 2009 to March 2018, we confirm our hypothesis and document that cheaper stocks yield higher subsequent abnormal returns. The results are robust after controlling for various stock characteristics that have been documented to be value-relevant in prior literature, including firm size, book-to-market ratio, intermediate-term momentum, short-term reversal, skewness, market risk, idiosyncratic risk, illiquidity and extreme daily returns, using both the portfolio analysis and the Fama-MacBeth cross-sectional regression. The negative effect persists in the long term (i.e., after up to 12 months), implying a slow adjustment of stock prices to their intrinsic value. Further analysis show that the observed nominal price anomaly is mainly driven by mispricing but not a latent risk factor proxied by stock price, thus the observed anomaly reflects a mispricing but not a fundamental risk. The study highlights the irrational behaviour of investors and market inefficiency in the Vietnamese stock market and provides important implication for investors in the market.

Emotional Reactions, Sentiment Disagreement, and Bitcoin Trading

  • Dong-Yeon Kim;Yongkil Ahn
    • Asia-Pacific Journal of Business
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    • v.14 no.4
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    • pp.37-48
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    • 2023
  • Purpose - This study aims to explore the influence of emotional discrepancies among investors on the cryptocurrency market. It focuses on how varying emotions affect market dynamics such as volatility and trading volume in the context of Bitcoin trading. Design/methodology/approach - This study involves analyzing data from Bitcointalk.org, consisting of 57,963 posts and 2,215,776 responses from November 22, 2009, to December 31, 2022. Tools used include the Linguistic Inquiry and Word Count (LIWC) software for classifying emotional content and the Python Pattern library for sentiment analysis. Findings - The results show that heterogeneous emotional feedback, whether positive or negative, significantly influences Bitcoin's intraday volatility, skewness, and trading volume. These findings are more pronounced when the underlying emotion in the feedback is amplified. Research implications or Originality - This study underscores the significance of emotional factors in financial decision-making, especially within the realm of social media. It suggests that investors and market strategists should consider the emotional landscape of online forums when making investment choices or formulating market strategies. The research also paves the way for future studies regarding the behavioral impact of emotions on the cryptocurrency market.

Estimation of BDI Volatility: Leverage GARCH Models (BDI의 변동성 추정: 레버리지 GARCH 모형을 중심으로)

  • Mo, Soo-Won;Lee, Kwang-Bae
    • Journal of Korea Port Economic Association
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    • v.30 no.3
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    • pp.1-14
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    • 2014
  • This paper aims at measuring how new information is incorporated into volatility estimates. Various GARCH models are compared and estimated with daily BDI(Baltic Dry Index) data. While most researchers agree that volatility is predictable, they differ on how this volatility predictability should be modelled. This study, hence, introduces the asymmetric or leverage volatility models, in which good news and bad news have different predictability for future. We provide the systematic comparison of volatility models focusing on the asymmetric effect of news on volatility. Specifically, three diagnostic tests are provided: the sign bias test, the negative size bias test, and the positive size bias test. From the Ljung-Box test statistic for twelfth-order serial correlation for the level we do not find any significant serial correlation in the unpredictable BDI. The coefficients of skewness and kurtosis both indicate that the unpredictable BDI has a distribution which is skewed to the left and significantly flat tailed. Furthermore, the Ljung-Box test statistic for twelfth-order serial correlations in the squares strongly suggests the presence of time-varying volatility. The sign bias test, the negative size bias test, and the positive size bias test strongly indicate that large positive(negative) BDI shocks cause more volatility than small ones. This paper, also, shows that three leverage models have problems in capturing the correct impact of news on volatility and that negative shocks do not cause higher volatility than positive shocks. Specifically, the GARCH model successfully reveals the shape of the news impact curve and is a useful approach to modeling conditional heteroscedasticity of daily BDI.

A Grain Size Analysis of Bottom Sediments of Yeongil Bay, Korea (한국 영일만 해저퇴적물의 입도분포)

  • Park, Byong-Kwon;Song Moo-Young
    • 한국해양학회지
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    • v.7 no.2
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    • pp.74-85
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    • 1972
  • This paper studied the grain size distribution of bottom sediments of Yeongil Bay which is located at the southeastern part of the Korean Peninsula. Sixty four samples collected with snapper and dredger are analyzed by roe Tap Sieve Shaker and Pipette Method. The moment parameters are calculated with the method of Friedman(1961). Most samples are composed of sand size sediments and a few samples are composed of silt and clay. The Yeongil Bay can be divided into gravel-granule zone, sand zone, and silt-clay zone. The sediments near Yeonam- Dong and Hyongsan river are moderately sorted and others are very poorly sorted according to scheme of Friedman91962). In general, sorting values are ranged from 1.0 to 3.5. The samples near Janggigap and Masin-Dong show negative and others show positive skewness values. Skewness values are ranged from -1 to 2. All samples show the leptokurtic distribution except for the samples near Masin- dong and at the deepest place near Janggigap. Kurtosis values are ranged from -1.5 to 21.9. The samples of gravel-granule zone contain more than 50% and those of silt-clay zone contain less than 50% of CaCO$\_$3/. Four different colors, black, yellow, brown and gray, are shown in the sediments of Yeongil Bay.

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A Study on the Academic Dropout of College Students (대학생의 중도탈락에 관한 연구(D대학 중심))

  • Lee, Jae-Do
    • Journal of the Korea society of information convergence
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    • v.1 no.1
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    • pp.47-54
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    • 2008
  • This study analyzed the status and causes for the dropouts of college based on the survey conducted among 14,210 freshmen attending D College, other than the supernumerary special selection, from 2001 through 2005. A significant difference was shown in all items of general characteristics. The dropout rate of women, generally selected and general highschool graduated were higher than for men, specially selected and special high school graduated, respectively. The most dropouts were due to Not Return(40.16%), followed by Unenrolled(32.98%), Voluntary Leave(26.05%) and Expelled(0.81%) in order. In the distribution of the central tendency values measured from the entire subjects, the high school records and the days of absence showed a positive skewness, while the college records showed a negative skewness with the data mostly around a higher grade. The standard deviation indicating that the dropouts got the scores higher than those of the continuing students demonstrated that there was relatively insignificant difference in scores between two groups. It was demonstrated that both the high school records and the days of absence affected the dropout. The lower the high school records were, and the more the days of absence were, the more influence both items had on the dropout. The influence degree of each item was similar. Lower the scores were in terms other than the first term in the freshmen year, the more influence it had on the dropout. The most dropouts were influenced by the scores of the freshmen year, followed by the credits of the second term, the scores of the first term, the scores of the second term, and the credits of the first term in the freshmen year. Among the general characteristic items, the most dropouts were influenced by the course of study, followed by the gender. The effect of other items was insignificant.

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On the Population Dynamics and Interspecific Competition of Disporum smilacinum and D. viridescens (Liliaceae) in Mt. Nam Park (남산공원 내 애기나리와 큰애기나리 군락의 동태 및 종간 경쟁의 추정)

  • 민병미
    • The Korean Journal of Ecology
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    • v.21 no.5_3
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    • pp.649-663
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    • 1998
  • The clarify the ecological properties, and to predict change of understory vegetation of mt. Nam Park, population dynamics and interspecific competition of D. smilacinum and D. viridescens, which grow in understory of deciduous broad-leaved forest and pseudo-annuals, were studied from May 20 to May 30 1998. The depth of litter layer, soil moisture content, soil organic matter and soil texture were surveyed in 18 populations (15 D. smilacinum populations and 3 D. viridescens populations). Mean litter layer of d. smilacimum population was thinner than that of D. viridescens populations). Mean litter layer of D. smilacnum population was thinner than that of D. viridescens population. The contents of soil moisture and organic matter of D. smilacinum population were lower than that of D. viridescens population. The D. smilacinum growed in broad range of soil texture but D. viridescens in loamy soil. Because D. smilacinum could tolerate more broad range of soil moisture and soil texture than D. viridescens, the former covered the herb layer in earlier stage and the latter introduced in later stage when rhizome could grow easily. The numbers of individual in two marginal parts were smaller than that in center in same D. smilacinum patch. And the total numbers of individuals grown in (10 ${\times}$ 10)cm were from 0 to 12. The rhizome (subterranean runner) weight, rhizome length, root weight, shoot weight, lea weight and leaf number per subquadrat (cell) increased along the number of individual, that is, increased from marginal part to center. But rhizome weight and rhizome length per individual were vice versa. Therefore, the individuals in marginal part reproduced longer and stronger asexual propagules than that in center. The distribution pattern of D. smilacinum was contageous and that of D. viridescens was random or regular. Therefore, population growth of former was independent on density and that of latter was dependent on density. The distributions of size-class showed normal curves in two population, but the curves based on data of total dry weight showed positive skewness and those of leaf number showed negative skewness The correlation coefficient (CC) values between the properties of each organ were high in two population and significant at 0.1% level. The CC values of D. viridescens were higher of the two. Therefore, the former allocated the energy to each organ stable. The rhizome depth of d. viridescens was 2 times deeper than that of D. smilacinum. And rhizome length and weight of D. viridescens were longer (2 times) or heavier (4 times) than those of D. smilacinum. The patch size of D. viridescens increased 60 cm per year and that of D. smilacinum 30 cm. On this results, the intrinsic increase velocity of d. viridescens patch was 2 times faster than that of d. smilacinum, therefore, on the competition, the former had an advantage over D. smilacinum. The reason why d. viridescens defeated D. smilacinum resulted from that the leaf area of former was 4 times broader than that of latter. in Mt. Nam Park, it was thought that two disporum Population would change with the 3 thpes of environmental change as followings. First, no human impact and increase of soil moisture content resulted in increase of D. viridescens population. Second, mild human impact and similar condition of soil moisture content resulted in slow increase or no changes of D. smilacinum and d. viridescens population. Third, severe human impact and dry condition resulted in decrease or vanishment of two disporum populations.

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A Comparative Study on the Excess Returns of Growth Stocks and Value Stocks in the Korean Stock Market (한국 주식시장에서 성장주와 가치주의 초과수익률 비교 연구)

  • Koh, Seunghee
    • Journal of the Korea Convergence Society
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    • v.9 no.7
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    • pp.213-222
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    • 2018
  • This study attempts to empirically investigate the excess returns of growth stocks in the Korean stock market comparing with those of value stocks. Recently, a few of IT and bio-pharmaceutical stocks with high growth potentials have accomplished dramatically high returns in the Korean stock market. Whereas, important prior studies in this line have observed negative excess returns from investment of growth stocks on average. And a few studies have reported that the distribution of excess returns from growth stocks is not normal but positively skewed. Empirical results of the present study are consistent with those of prior studies. Interestingly, the present study observed serial inverse correlation between excess returns of growth stocks and value stocks. Also, regardless of growth or value stocks, the stocks with higher PEG(=PER/ROE) showed higher excess returns.

On the Annual Change of Surface Wind at Seocheon, Korea (서천지방의 지상풍 연변화에 관하여)

  • 문승의;김백조
    • Journal of Environmental Science International
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    • v.7 no.3
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    • pp.375-382
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    • 1998
  • The characteristics of the basic statistics and steadiness of wind and the monthly normality test of surface wind distribution are investigated by using the observed wind data compiled from 10m meteorological observation tower at Seocheon district, where is located In the western coastal region of Korea. during the period from Feb. 7, 1996 to Feb. 7 1997 The northerly is appeared to be even in August and Sepember due to the influences of loccal circulation such as land and sea breeze. The correlation coefacients between two wind components are seemed to be positive during the in the period of from June to September and negative from October to April, respectively The constancy of wand Is high In shifts to lower values Increasing sampling time. It is found from monthly normality test based on the skewness and the excess of kurtosis coefficients that the distribution of zonal wind component is normal In spring and meridional one Is normal in late summer and early autumn.

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