• The Journal of Asian Finance, Economics and Business
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• v.6 no.4
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• pp.19-26
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• 2019

The study investigates the impact of accrual anomaly on stock return ratio of listed firms in Vietnam. Data were collected from listed firms for the period from 2008 to 2018. To learn about the causes of accrual anomaly in returns and future rate of returns on the Vietnamese stock market, this research is based on accrual analysis of Richardson, Sloan, Soliman, and Tuna (2006) on growth and effective components. We employ GLS regression model for examining the impact of accrual anomaly on stock return ratio and T-test for checking the difference between the lowest and the highest portfolio. The results show that accounting distortion is the main factor impacting the stock return, not growth determinant. Both two determinants of accounting distortion and growth contribute the explanation of the impact of accrual anomaly on profit and future stock return ratio. Experimental evidence confirms an abnormal existence of accrual in the Vietnam stock market. Aggregate accrual is negatively correlated with future operating profit and future stock return. However, after considering the factors contributing to the impact of future profitability and return on stock returns, the study results show that accounting distortion can account for low sustainability of income that is not growth.

• Journal of The Korean Astronomical Society
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• v.37 no.1
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• pp.15-39
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• 2004

We analyse the results of mass models derived from the HI rotation! curves of spiral galaxies and find that the slope of the luminous mass-circular velocity relation is close to 4. The luminous mass-circular velocity relation with a slope of about 4 can be explained by an anti-correlation between the mass surface density of luminous matter and the mass ratio of the dark and luminous components. We also argue that the conspiracy between luminous and dark matter exists in a local sense (producing a flat or smooth rotation curve) and in a global sense (affecting the mass ratio of the dark and luminous matter), maintaining the luminous mass-circular velocity relation with a slope of about 4. We therefore propose that the physical basis of the Tully-Fisher relation lies in the luminous mass-circular velocity relation. While the slope of the luminous mass-circular velocity relation is fairly well defined regardless of the dark matter contribution, the zero-point of the relation is still to be determined. The determination of the slope of the Tully-Fisher relation needs one more step: the mean trend of the luminosity-luminous mass relation determines the overall shape (slope) of the Tully-Fisher relation. The key parameter needed to determine the zero-point of the luminous mass-circular velocity relation and the slope of the Tully-Fisher relation obviously is the luminous mass-to-light ratio.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.11
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• pp.1113-1122
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• 2020

The purpose of this study is to examine how the Indian banks have adjusted their risk-based capital ratios during 2009-2018 to meet the regulatory requirements. Banks can, in principle, increase their risk-based regulatory capital ratio, either by increasing their levels of regulatory capital or by shrinking their risk-weighted assets by adjusting asset growth or risk in the portfolio. We investigate banks' capital behavior by decomposing the change in the capital ratio into the contribution of its components and analyzing their variance across regulatory regimes and banks' ownerships. We further investigate how each component of the capital ratio is adjusted by the banks by breaking down them into balance sheet items. We find that the banks' capital behavior significantly differed between public and private sector banks and between the two regulatory regimes. During Basel II, banks, in general, followed a strategy of aggressive asset growth with increased risk-taking. The decline in the CRAR because of such an expansionary strategy was adjusted by augmenting additional capital. However, during Basel III, due to higher capital requirements, both in terms of quantity and quality, banks followed a strategy of cutting back their asset growth and reducing the risk in their portfolio to maintain their CRAR.

• Steel and Composite Structures
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• v.32 no.1
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• pp.59-66
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• 2019

Hollow steel-reinforced concrete-filled GFRP tubular member is a new kind of composite members. Firstly set the mold in the GFRP tube (non-bearing component), then set the longitudinal reinforcements with stirrups (steel reinforcement cage) between the GFRP tube and the mold, and filled the concrete between them. Through the axial compression test of the hollow steel-reinforced concrete-filled GFRP tubular member, the working mechanism and failure modes of composite members were obtained. Based on the experiment, when the load reached the ranges of $55-70%P_u$ ($P_u-ultimate$ load), white cracks appeared on the surface of the GFRP tubes of specimens. At that time, the confinement effects of the GFRP tubes on core concrete were obvious. Keep loading, the ranges of white cracks were expanding, and the confinement effects increased proportionally. In addition, the damages of specimens, which were accompanied with great noise, were marked by fiber breaking and resin cracking on the surface of GFRP tubes, also accompanied with concrete crushing. The bearing capacity of the axially compressed components increased with the increase of reinforcement ratio, and decreased with the increase of hollow ratio. When the reinforcement ratio was increased from 0 to 4.30%, the bearing capacity was increased by about 23%. When the diameter of hollow part was decreased from 55mm to 0, the bearing capacity was increased by about 32%.

• Korean Journal of Air-Conditioning and Refrigeration Engineering
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• v.23 no.1
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• pp.73-79
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• 2011

A portion of oil for lubrication of compressor flows together with refrigerant in the refrigeration system. If the oil discharge from a compressor is increased in the refrigeration system, not only pressure drop is increased in other components, such as evaporator and gas cooler, but also heat transfer coefficient in the heat exchangers is decreased. Oil discharge rate from a compressor may strongly depend on operating conditions of a compressor. In this study, one stage single rotary compressor is employed for measuring oil circulation ratio(OCR). Carbon dioxide and PAG oil are used as refrigerant and lubricant. Using a U-tube densimeter, mixture density is measured. Oil circulation ratio(OCR) can be estimated by measured mixture density. The results obtained indicate that the oil circulation ratio(OCR) is increased as the suction temperature or compressor operating frequency is increased. Oil circulation ratio(OCR) correlation of the compressor is also suggested.

• Transactions on Electrical and Electronic Materials
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• v.12 no.6
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• pp.241-244
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• 2011

An isolator transmits light in the forward direction and blocks light from passing in the reverse direction. It is regarded an essential optical component in medical, industrial, and research lasers for blocking reflection beams that cause optical damage and noise. It is also used as a communicative light intensifier to expand the lifespan of devices and enhance transmission quality. This study analyzed the characteristics of the core components in the construction of a polarization-independent isolator, namely, the walk-off polarizer and the Faraday rotator. Measurement of the extinction ratio of the resultant walk-off polarizer revealed that the ratio between the vertical and horizontal rays was 1,050:1 with a laser output of 0.032 W and 1,010:1 with a laser output of 2.68 W, thus presenting ratios similar to 1,000:1. In addition, the walk-off polarizer and Faraday rotator constructed in this study were used to compare output changes according to changes in power of input light and to check the penetration ratio. Results from the study presented variations in output value according to changes in power of input light. However, the average penetration ratio remained relatively consistent (~81.4%).

• Proceedings of the IEEK Conference
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• 2000.11a
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• pp.69-72
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• 2000

In CDMA systems, the performance of the typical multipath searcher degrades much according as the signal to noise ratio becomes low. In this paper, multipath searcher algorithm is proposed based on sliding window to overcome this drawback. In searcher systems, correlation values between incoming and local PN sequences are used to acquire multipath components. Therefore more accurate distributions of correlation values obtained through this proposed algorithm enables to get higher detection probability. In computer simulations, it is verified that proposed algorithm has better performances in Rayleigh fading channel and Gaussian channel.

• Proceedings of the KIEE Conference
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• 1987.07b
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• pp.1512-1515
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• 1987

The buffer circuit having minimum delay time is designed and analyzed in this paper. Considering the parasitic components of the MOS transistor, the optimal transistor size ratio between the individual buffer stages is presented. This paper's result is better than that of the Mead and Conway's analysis [1] with respect to both delay time and total area that buffer occupies.

• Journal of the Korean Data and Information Science Society
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• v.20 no.1
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• pp.237-250
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• 2009

We consider a nonparametric test procedure for the multi-sample problem with grouped data. We construct the test statistics based on the scores obtained from the likelihood ratio principle and derive the limiting distribution under the null hypothesis. Also we illustrate our procedure with an example and obtain the asymptotic properties under the Pitman translation alternatives. Also we discuss some concluding remarks. Finally we derive the covariance between components in the Appendix.

• Communications for Statistical Applications and Methods
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• v.9 no.3
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• pp.715-723
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• 2002

This paper is to show a clustering application of a density estimation method that utilizes the Gaussian mixture model. We define "closeness measure" as a clustering criterion to see how close given two Gaussian components are. Closeness measure is defined as the ratio of log likelihood between two Gaussian components. According to simulations using artificial data, the clustering algorithm turned out to be very powerful in that it can correctly determine clusters in complex situations, and very flexible in that it can produce different sizes of clusters based on different threshold valuesold values