• Title/Summary/Keyword: Positive affect

Search Result 3,542, Processing Time 0.037 seconds

EFFECT OF INTERLEUKIM-10 ON THE BONE RESORPTION INDUCED BY INTERLEUKIN-1B (Interleukin-10 이 $interleukin-1{\beta}$로 유도되는 골흡수에 미치는 효과)

  • Yu, Yun-Jung;Kang, Yun-Sun;Lee, Syng-Ill
    • Journal of Periodontal and Implant Science
    • /
    • v.24 no.2
    • /
    • pp.321-339
    • /
    • 1994
  • The cytokines released by osteoblasts induce bone resorption via the differentiation of osteoclast precursors. In this process, $interleukin-1{\beta}$($IL-1{\beta}$)-induced bone resorption is mediated by granulocyte macrophage-colony stimulation factor(GM-CSF), interleukin-6 (IL-6), and tumor necrosis factor ${\alpha}$($TNF-{\alpha}$) released from osteoblasts. Since these cytokines (GM-CSF, IL-6, $TNF-{\alpha}$) are produced by not only osteoblasts but also monocytes, and interleukin-10(I1-10) inhibits the secretion of these cytokines from monocytes, it may be speculated that IL 10 could modulate the production of GM-CSF, IL-6, and $TNF-{\alpha}$ by osteoblasts, then control $IL-1{\beta}-induced$ bone resorption. Therefore, the aims of the present study were to examine the effects of IL-10 on bone resorption. The sixten or seventeen-day pregnant ICR mice were injected with $^{45}Ca$ and sacrificed one day after injection. Then fetal mouse calvaria prelabeled with $^{45}Ca$ were dissected out. In order to confirm the degree of bone resorption, mouse calvaria were treated with Lipopolysaccharide(LPS), $TNF-{\alpha}$, $IL-1{\alpha}$, IL-8, $IL-1{\beta}$, and $IL-1{\alpha}$, Then, IL-10 and $interferon-{\gamma}$ ($IFN-{\gamma}$) were added to calvarial medium, in an attempt to evaluate the effect of $IL-1{\beta}-induced$ bone resorption. In addition, osteoclasts formation in bone marrow cell cultures, and the concentration of IL-6, $TNF-{\alpha}$, and GM-CSF produced from mouse calvarial cells were investigated in response to $IL-1{\beta}$ alone and simultaneously adding f $IL-1{\beta}$ and IL-10. The degree of bone resorption was expressed as the ratio of $^{45}Ca$ release(the treated/the control). The osteoclasts in bone marrow cultures were indentified by tartrate resistant acid phosphatase(TRAP) stain and the concentration of the cytokines was quantified using enzyme linked immunosorbent method. As results of these studies, bone resorption was induced by LPS(1 ng/ml ; the ratio of $^{45}Ca$ release, $1.14{\pm}0.07$). Also $IL-1{\beta}$(1 ng/ml), $IL-1{\alpha}$(1 ng/ml), and $TNF-{\alpha}$(1 ng/ml) resulted in bone resorption(the rations of $^{45}Ca$ release, $1.61{\pm}0.26$, $1.77{\pm}0.03$, $1.20{\pm}0.15$ respectively), but IL-8 did not(the ratio of $^{45}Ca$ release, $0.93{\pm}0.21$). The ratios of $^{45}Ca$ release in response to IL-10(400 ng/ml) and $IFN-{\gamma}$(100 ng/ml) were $1.24{\pm}0.12$ and $1.08{\pm}0.04$ respectively, hence these cytokines inhibited $IL-1{\beta}$(1 ng/ml)-induced bone resorption(the ratio of $^{45}Ca$ release $1.65{\pm}0.24$). While $IL-1{\beta}$(1 ng/ml) increased the number of TRAP positive multinulcleated cells in bone marrow cultures($20{\pm}11$), simultaneously adding $IL-1{\beta}$(1 ng/ml) and IL-10(400 ng/ml) decreased the number of these cells($2{\pm}2$). Nevertheless, IL-10(400 ng/ml) did not affect the IL-6, GM-CSF, and $TNF-{\alpha}$ secretion from $IL-1{\beta}$(1 ng/ml)-activated mouse calvarial cells. From the above results, it may be suggested that IL-10 inhibites $IL-1{\beta}-induced$ osteoclast differntiation and bone resorption. However, the inhibitory effect of IL-10 on the osteoclast formation seems to be mediated not by the reduction of IL-6, GM-CSF, and $TNF-{\alpha}$ production, but by other mechanisms.

  • PDF

The Effect of Attributes of Selecting Korean Restaurants Pursuant to Food Service Consumption Propensity on Behavioral Intent (외식 소비성향에 따른 한식당 선택속성이 행동의도에 미치는 영향)

  • Jin, Eun-Kyung;Park, Young-Hee;Lee, Jong-Ho
    • Culinary science and hospitality research
    • /
    • v.20 no.1
    • /
    • pp.189-204
    • /
    • 2014
  • This study is aimed to identify the relationship between Korean restaurant selection attributes and behavioral intention regarding foodservice consumption tendency. In order to achieve the purpose of research, frequency analysis, factor and reliability analysis, correlation analysis, cluster analysis, chi-square test, variance analysis, and multiple regression analysis were conducted using SPSS 18.0. As a result of variance analysis, accessibility did not appear to have a significant difference in all clusters, food quality appeared to have a significant result (F=5.587, $p{\leq}.001$), employees' service appeared to have a significant difference (F=5.186, p<.01), and price discounts also showed a significant difference (F=4.921, p<.01). Therefore, the first hypothesis that the foodservice consumption tendency has a difference in the Korean restaurants selection attributes was partially selected. In order to verify the hypothesis that the Korean restaurants selection attributes affect behavioral intention, the sub-factors of the Korean restaurant selection attributes (accessibility of restaurants, food quality, employees' service, price discounts) were set as independent variables, and the behavioral intention of foodservice consumers was set as a dependent variable. As a result, the accessibility of restaurants (${\beta}=.092$) and price discounts (${\beta}=.299$) have a non-significant effect on behavioral intention. However, a significant result was shown in food quality (${\beta}=.379$, p<.001) and employees' service (${\beta}=.251$, p<.001). Thus, the hypothesis that the Korean restaurant selection attributes have a positive effect on behavioral intention was partially selected. Based on the results, foodservice managers need to build up strategic management to improve food quality with better ingredients, sanitation, adequate quantity, and consistent taste of food. In addition, they should provide better service with well-trained employees.

The Study on the Mediating Effects of "Self-esteem" in the Relationship between High School Students' "Adaptation to School Life" and "Career Maturity." (고등학생의 학교생활적응과 진로성숙과의 관계에서 자아존중감의 매개효과에 관한 연구)

  • Jung, Joo Won
    • Journal of Korean Home Economics Education Association
    • /
    • v.26 no.1
    • /
    • pp.101-118
    • /
    • 2014
  • "Career maturity" is very crucial for high school students since it has an impact on their career path and decision-making. Not only that, it is also important in self-realization and happiness as well as maximizing human resources. When it comes to understanding high school students' career path, it is necessary to know how they perceive school life since they spend most of their time in school. It's also vital to observe in the perspective of students' personal growth. This study seeks to understand the relationship between "adaptation to school life" "self-esteem" and "career maturity". To accomplish this, the 7th additional surveys conducted by Welfare Panel Study were used. The survey was conducted among 496 high school students in order to come up with descriptive statistics and correlation between "adaptation to school life" and "self-esteem" as well as the level of "career maturity". Hierarchical multiple regression analysis was used to understand the effects of "adaptation to school life" and "self-esteem" on "career maturity." The Baron and Kennny mediation analysis were used to understand the effects when the mediating role of "self-esteem" comes into the relationship between "adaptation to school life" and "career maturity". The results of the analysis are as follows: First, the average age for high school students' "career maturity" is 2.07, while it is 1.91 for "self-esteem". For "adaptation to school life," the relationship between "obedience to school regulations" and "relationship with friends" was relatively higher than the relationship between "attitude toward school life" and "interest in school life" Second, high school students' "career maturity" "adaptation to school life" and "self-esteem" were thought to be statistically meaningful since it showed that they had a positive relationship with each other. Third, "interest in school life" "attitude toward school life" and "obedience to school life" and "relationship with friends" in which all of these are the sub factors for "adaptation to school life" together with "self-esteem" had an influence on high school students' "career maturity". Lastly, the relationship between "adaptation to school life" and "career maturity" was proved to be influenced by the partial mediating role of "self-esteem". As the study seeks to find relationships and the factors that affect high school students' "career maturity" meaningful information is given out for the development and progress of educational programs for "career maturity". This was done by understanding the fundamental and systematic approach towards "career maturity" in the students' perspective.

  • PDF

The Effect of Hospital Service Coordinator Education Curriculum on the Education Satisfaction and the Quality of Medical Service (병원서비스코디네이터 교육과정이 교육만족과 의료서비스 품질에 미치는 영향)

  • Choi, Eun-Kyoung;Park, Chang Sik;Seo, Jong-Bum
    • The Korean Journal of Health Service Management
    • /
    • v.2 no.1
    • /
    • pp.137-154
    • /
    • 2008
  • The increase of the supply of medical service and the increase of hospitals have intensified the competition of hospitals, and the advancement towards internationalization in the opening of medical industry has triggered the infinite competition of medical profession. In addition, the high expectation of customers and quality improvement in the medical care in accordance with the improvement of overall income, and the change of active role of medical consumers according to the popularization and the improvement of rights awareness reflect the customer needs and choice in the medical service. Customers wanted to receive the kind and pleasant service under the up-to-date medical service. Therefore, as a solution, hospital coordinators were emerged for the purpose of smooth treatment and customer satisfaction by generalizing all service of hospital. Accordingly, this thesis attempted to investigate the effect of hospital coordinator education curriculum on the education satisfaction and the quality of medical service. In order to solve the purpose of this study, I, author reviewed the existing literatures, established hypothesis, and verified hypothesis by using the variety of statistics techniques such as reliability, validity, frequency analysis, and regression analysis. The verification of hypothesis is as followings: First, among education training factors of hospital coordinators, the quality of instructor significantly affects the satisfaction of hospital coordinator education training. Second, among training factors of hospital coordinator, the attitude of trainee significantly affects the training satisfaction of hospital coordinator. Third, among education training factors of hospital coordinator, education course significantly affects the training satisfaction of hospital coordinator education. As the qualities of instructor are better equipped, the satisfaction of education becomes higher. It indicates that the education method of instructors is important as an index to represent the qualities of instructor such as the appropriateness of education method, preparation, passion, visual materials, the adequacy of education procession, and specialized knowledge, and it has important effect on the satisfaction of education. In order to enhance the satisfaction of hospital coordinator education, the creation of education environment, making trainee concentrate on the education, is required by appropriately allocating programs, arousing interest in education, based on the attitude of trainee, discussion, and preliminary programs, preparation, ahead of enforcement of education. Fourth, the satisfaction of hospital coordinator education training significantly affects the reliability among the qualities of medical service. Fifth, satisfaction of hospital coordinator education training significantly affects hospitality I kindness among the qualities of medical service. If the education satisfaction of trainee is high, it is effective in the practical application such as dealing with complaints, the duty performance for the patients, and so on in offering the medical service, related to reliability and furthermore, we can find the positive change in the attitude change of medical professions related to the reliability of hospital coordinator. In addition, in the process of offering medical services such as the kind explanation on the duty, rapid response to the customers inquiry, and tidy uniform, practical effect was verified. Sixth, the education training factor of hospital coordinator significantly affects the reliability among the quality of medical service. Seventh, the education training factors of hospital coordinator significantly affect hospitality/kindness. In the education of hospital coordinator, the methods to attract the interest of trainee by emphasizing reliability should be sought and for gaining the practical effect of hospital coordinator education, the sufficient preparation and investigation on the education curriculum should be prerequisite and under this condition, intensified discussion on the instructor and education course is needed. In the design of education course, more education hours and subjects should be allocated in the part of hospitality in order to improve the practical application of hospitality. Therefore, it is meaningful in a sense that this study newly approached the components of hospital coordinator education and the need to modify the quality components of medical service in accordance with the study subjects was raised. This study also finds its meaning in that it provides basic materials for the study of future hospital coordinator education by suggesting the system development model of hospital coordinator education through preliminary study of education training. In addition, this study is meaningful in the aspect that it suggested the direction of education training by showing how the hospital coordinator education training would applied to the hospital coordinator course of the Continuing Education Center at Pusan and Kyungnam National University to some extent. Since all investigation of this study was approached from the side of hospital coordinator, the thoughts of patients who are beneficiaries of medical service, and care givers cannot be identified. Therefore, the satisfaction of patients and care givers through the experience of medical service, which is the essential prerequisite of medical service, should be importantly considered and investigated. Accordingly, The study of comparing and analyzing the views of both patients and care givers should be carried out in the future.

  • PDF

Photosynthetic Characteristics and Primary Production by Phytoplankton with Different Water Quality of Influent in Open Waters of Constructed Wetlands for Water Treatment (수질정화용 인공습지 개방수역에서 유입수질에 따른 식물플랑크톤의 광합성특성 및 유기물생산력)

  • Choi, Kwang-Soon;Hwang, Gil-Son;Kim, Dong-Sub;Kim, Sea-Won;Kim, Ho-Joon;Joh, Seong-Ju;Park, Je-Chul
    • Korean Journal of Ecology and Environment
    • /
    • v.40 no.1
    • /
    • pp.61-71
    • /
    • 2007
  • The photosynthetic characteristics and primary production by phytoplankton in open waters of two wetlands (the Banwol and the Donghwa wetland) of Sihwa Constructed Wetland with different water chemistry were investigated to provide the information for the wetland management considering the water treatment efficiency. During the study period (from March to October, 2005) the primary productivity in open waters ranged from 481 to 11,275 mgC $m^{-2}$ $day^{-1}$, which is very high compared with the eutrophic level of 600mgC $m^{-2}$ $day^{-1}$. From the analysis of the photosynthesis-irradiance (P-I) model parameters, the photosynthetic characteristics may be affected by different concentration and ratio of nutrient (N and P) between two wetlands. Assimilation number (AN) was higher in the Donghwa wetland (average AN: 8.5gC $gChl^{-1}$ $hr^{-1}$) with high P and low N/P ratio than the Banwol wetland (average AN: 5.8gC $gChl^{-1}$ $hr^{-1}$) with high N and high N/P ratio. This result indicates that AN may be concerned with phosphorus than nitrogen and low NIP ratio. Positive correlation (R=0.81) was observed between the initial slope and AN, implying that AN was high in case of phytoplankton having more active photosynthesis ability under low light. On the other hand, maximum photosynthesis (Pmax) was related positively with chlorophyll a concentration showing correlation coefficient of 0.47. In this study, considering the high primary production through phytoplankton photosynthesis in open waters of Sihwa Constructed Wetland, the produced organic matter by phytoplankton may affect the water quality within wetland and its efficiency of water treatment. Also, the photosynthetic characteristics may be affected by different nutrient enrichment (especially phosphorus) of wetlands. This study suggests that the production by phytoplankton and its characteristics in open water of constructed wetland for water treatment should be considered to improve the removal efficiency of organic matter.

A study on the intake of foods causing dental caries and the effect of nutrition education for primary students (초등학교 아동의 치아우식성 식품섭취 및 영양교육 효과에 관한 연구)

  • 김혜영;원복연;류시현
    • Korean journal of food and cookery science
    • /
    • v.18 no.6
    • /
    • pp.704-715
    • /
    • 2002
  • This study intended to compare dietary and snack habits of primary students in the schools providing and non-providing lunch to clarify the correlation between those conditions and the occurrence of dental caries. Furthermore, this study also focused on evaluating educational effects by providing children with nutritional education program. 1. As a result of dietary habit analysis, it was found that children from the school providing lunch were better in terms of breakfast regularity, eating speed. optimum amount of intake, and meal time regularity than those from the school non-providing lunch. In particular, it was noted that children from the school providing lunch took a little more meat, fish, seaweed and milk or dairy products than those from school non-providing lunch. Thus, it could be assumed hat children provided with lunch have more reasonable dietary habit than those without lunch program. In general, it was found that there was a slight positive change in children's dietary habit after nutritional instruction than before, suggesting that the nutritional education had effects on improving their dietary habit. 2. It was found that primary students often took snacks causing dental caries such as caramel, chocolate, sweets and biscuits, and children from the school providing lunch were more willing to reduce those snacks upon recognizing the causes of dental caries than those from the school non-providing lunch. For the children who chewed gum with physical cleansing effects, it was shown that the highest frequency wat twice or three times a week. Moreover, the ratio of children who took snacks following dinner which might affect their dental caries and the ratio of children who selected snacks because of TV commercial were both reduced after nutritional education. Also the consumption of detergent foods like vegetable, fruit, protein. seaweed. milk or dietary products after nutritional education was increased. 3. It was found that children from the school providing lunch took more often all food groups except for food group IV affecting dental caries than those from the school non-providing lunch. The average number of consuming foods which cause dental caries was 5.04 times per person a day, and most of those were rather taken by liquid than solid food. The average eating times of rinsing foods which kill the bacteria on the surface of teeth and prevent from dental caries, was 9.33 for a person a day, which was a little higher than recommended time. Exposed time for dental caries for a person a day was 100.9 min, of which liquid dental caries was 56.2 min and solid dental caries was 44.6 min, suggesting that liquid food had a high potential to cause dental caries.

The influences of individual personality types on ERP system's acceptance: a preliminary test (개인의 성격유형이 ERP수용에 미치는 영향에 관한 탐색적 연구)

  • Kim, Hyun-Sang;Lee, Jang-Hyung
    • Journal of Korea Society of Industrial Information Systems
    • /
    • v.11 no.4
    • /
    • pp.47-65
    • /
    • 2006
  • The application of the ERP system is becoming more common to the businesses since a firm needs to reinforce positive competitiveness and to maintain competitive advantage. The ERP system is an enterprise integration solution that converts the whole business processes through information technology. Extant research provides plenty of results about the success factors of the ERP system; however, most of the researches focus on the exterior factors such as techniques rather than on the influences that a firm's employees' individual personality has in accepting the information technology of the ERP system. The objective of this study is to investigate the role of the employees' individual personality as a factor that makes the ERP system a success. The surveys--composed of the extent of information technology acceptance about the personality type of MBTI (Myers-Briggs type indicator) and the ERP system--were given to the companies applying the ERP system The personality type of MBTI is measured by 4 types of Myers, and Davis's TAM (technology acceptance model) is used for the information technology acceptance. The results of this study are summarized as follows. First the extraversion and the judging in the personality types of MBTI have a significant influence on the information technology acceptance of the ERP system. However, the thinking and the feeling in the personality types of MBTI were analyzed to not have a critical affect on the ERP system acceptance. Second as verified in the extant research the information technology acceptance verification related to the ERP system has a significant influence on perceived ease of use, perceived usefulness, behavioral intention and actual usage of the ERP system. The results of this study can be used for a successful application of the ERP system as follows. First it offers foundation of perception that the type of the individual personality is a significant key figure for the successful use of the ERP system. Second it provides a basis for the knowledge of combining the model of information technology acceptance and the psychological factors.

  • PDF

A Study of the Core Factors Affecting the Performance of Technology Management of Inno-Biz SMEs (기술혁신형(Inno-Biz) 중소기업의 기술경영성과에 미치는 핵심요인에 관한 연구)

  • Yoon, Heon-Deok;Seo, Ri-Bin
    • Journal of Technology Innovation
    • /
    • v.19 no.1
    • /
    • pp.111-144
    • /
    • 2011
  • This study is to confirm the core factors of innovative capabilities and technological entrepreneurship affecting the performance of technology management and business management of small and medium-sized enterprises (SMEs). Through the consideration about the complex natures of technological innovation affecting by multidimensional factors, this study designs the research model that innovative capabilities, the performances of technology and business management are arranged in accordance with the innovation process; input-output-outcome. To meet this research purpose, the hypothesis are set up based on the previous research studies and the research samples are selected from members of the Innovative Business (INNO-BIZ) Association, located in Seoul and Geyonggi province. As a result of regression analysis to the responses gathered from 360 firms, the performance of business management is influenced positively by the technology superiority, market growth and business profitability which are the dominant factors of performance of technology management. In addition, three sub-variables of innovative capabilities such as R&D, strategic planning and learning capability, have positive effects on both the managerial performances. Innovativeness and progressiveness of technological entrepreneurship affect both the performances positively. Moreover, the co-relation between technological entrepreneurship of an innovation leader and innovative capabilities of organizational members are identified. Lastly, technological entrepreneurship has the mediating effect on the path of leading innovative capabilities to the managerial performances. In conclusion, the research results imply that technological innovation-type firms should periodically evaluate the performance of technology management which are the output of technological innovations and the reinvestment for ultimate business success. And improving and developing innovative capabilities and technological entrepreneurship is required to continuously and consistently investing and supporting resources on technological innovations at the firm-and government-level. It is considered that these are the crucial methods for securing the technologically competitive advantage of SMEs with less resources and narrow innovation range.

  • PDF

The Effect of Sexual Maturity and Self-Concept on Interest in Appearance and Appearance Management Behavior for Female Students in Elementary and Middle School (초.중등 여학생의 성 성숙과 자기개념이 외모관심도와 외모관리행동에 미치는 영향)

  • Lee, Hwa-Jin;Shin, Hye-Won
    • Journal of Korean Home Economics Education Association
    • /
    • v.23 no.3
    • /
    • pp.185-200
    • /
    • 2011
  • The purpose of this study was to investigate if these factors affect the correlation between the female adolescent interest in appearance and appearance management behavior with self-concept and sexual maturity. To achieve this, a survey was conducted for the female students in elementary and middle school in the Seoul area. The results of this study were as follows. 1. The comparison of students' interest in appearance and appearance management behavior showed that the middle school students showed higher scores in both matters. 2. Elementary students generally held more positive self-concept, with domestic self value shown statistically high 3. Tanner Stage 2.3. the early puberty stage, for elementary school students, and Tanner Stage 3.4. the growth and development stage, for middle school students. The percentage of students who had already entered menstruating turned out to be only 33% for elementary students but 90% for middle school students. Their subjective views of sexual maturity were also different as elementary students had negative feeling when they thought their sexual maturity were maturity were earlier than their peers' while middle school students were just the opposite. 4. The study on the impact of self-concept and sexual maturity on the interest in appearance of female students in elementary and middle school showed that elementary students had a higher interest in appearance that corresponded to the lower domestic self-concept and a higher social self-concept. On the other hand, middle school students showed higher interest in appearance, corresponding to their higher social self-concept, lower domestic self-concept, more negative feeling of sexual maturity, and higher feeling of physical self-concept. The study on the impact of interest in appearance, self-concept, and sexual maturity on the appearance management behavior of elementary and middle school female students revealed that elementary students with a higher interest in appearance were more enthusiastic about appearance management. Middle school students' appearance management behavior turned out to be higher, corresponding to their higher interest in appearance, lower domestic self-concept, and higher social self-concept.

  • PDF

The Signaling Effect of Stock Repurchase on Equity Offerings in Korea (자기주식매입의 유상증자에 대한 신호효과)

  • Park, Young-Kyu
    • The Korean Journal of Financial Management
    • /
    • v.25 no.1
    • /
    • pp.51-84
    • /
    • 2008
  • We investigate the signaling effect of repurchase preceding new equity issue using Korean data. In a short time span, firms announce stock repurchases and equity offerings. The proximity of two events in Korean firms indicates that those are not independent of each other. In this paper, we test the signaling effect of repurchase on equity offerings on the two measures. One is announcement effect, which is measured as CAR(0, +2). The other is the effectiveness which is measured as CAR(0, +30) because the price movement during this window influences on the price of new issues. Previous studies that stock repurchase convey positive signal to equity offerings-Billet and Xue(2004) and Jung(2004)-construct sample without the limit of time interval between two events. This causes the unclear relation between those because of the long time interval. In this study we consider only samples of being within one year each other to reduce this problem and clarify the signal of repurchase on equity offerings. Korean firms are allowed to repurchase own shares with two different method. One is direct repurchase as same as open market repurchase. The other is stock stabilization fund and stock trust fund which trust company or bank buy and sell their shares on the behalf of firms. Generally, the striking different characteristic between direct repurchase and indirect repurchase is following. Direct repurchase is applied by more strict regulation than indirect repurchase. Therefore, the direct repurchase is more informative signal to the equity offering than the indirect repurchase. We construct two sample firms- firms with direct repurchase preceding-equity offerings and indirect repurchase-preceding equity offering, and one control firms-equity offerings only firms-to investigate the announcement effect and the effectiveness of repurchases. Our findings are as follows. Direct repurchase favorably affect the price of new issues favorably. CAR(0, +2) of firms with direct repurchase is not different from that of equity offerings only firms but CAR(0, +30) is higher than that of equity offerings only firms. For firms with indirect repurchase and equity offerings, Both the announcement effect and the effectiveness does not exist. Jung(2004) suggest the possibilities of how indirect stock repurchase can be regarded as one of unfair trading practices on based on the survey results that financial managers of some of KSE listed firms have been asked of their opinion on the likelihood of the stock repurchase being used in unfair trading. This is not objective empirical evidence but opinion of financial managers. To investigate whether firms announce false signal before equity offerings to boost the price of new issues, we calculate the long-run performance following equity offerings. If firms have announced repurchase to boost the price of new issues intentionally, they would undergo the severe underperformance. The empirical results do not show the severer underperformance of both sample firms than equity offerings only firms. The suggestion of false signaling of repurchase preceding equity offerings is not supported by our evidence.

  • PDF