• Title/Summary/Keyword: Reversion

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Spurious Mean-Reversion of Stock Prices in the State-Space Model (상태-공간 모형에서의 주가의 가성 평균-회귀)

  • Choi, Won-Hyeok;Jun, Duk-Bin;Kim, Dong-Soo;Noh, Jae-Sun
    • Journal of the Korean Operations Research and Management Science Society
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    • v.36 no.1
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    • pp.13-26
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    • 2011
  • In order to explain the U-shaped pattern of autocorrelations of stock returns i.e., autocorrelations starting around 0 for short-term horizons and becoming negative and then moving toward 0 for long-term horizons, researchers suggested the use of a state-space model consisting of an I(1) permanent component and an AR(1) stationary component, where the two components are assumed to be independent. They concluded that auto-regression coefficients derived from the state-space model follow a U-shape pattern and thus there is mean-reversion in stock prices. In this paper, we show that only negative autocorrelations are feasible under the assumption that the permanent component and the stationary component are independent in the state-space model. When the two components are allowed to be correlated in the state-space model, we show that the sign of the auto-regression coefficients is not restricted as negative. Monthly return data for all NYSE stocks for the period from 1926 to 2007 support the state-space model with correlated noise processes. However, the auto-regression coefficients of the ARIMA process, equivalent to the state-space model with correlated noise processes, do not follow a U-shaped pattern, but are always positive.

Effect of buprofezin on the formation and reversion of protoplast from mycelia of Pleurotus ostreatus and P. sajor-caju (Buprofezin이 느타리버섯속의 원형질체 나출 및 재생에 미치는 영향)

  • Shin, Gwan Chull;Whang, Ewi Ill;Seo, Geon Sik
    • Korean Journal of Agricultural Science
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    • v.17 no.2
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    • pp.77-81
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    • 1990
  • Effects of buprofezin, an inhibitor of chitin synthesis, on mycelial growth, protoplast formation and reversion of Pleurotus ostreatus and P. sajor-caju were investigated. The mycelial growth of Pleurotus ostreatus and P. sajor-caju was the inhibited by buprofezin treatment, and the inhibition rate was severer as the concentration of the buprofezin increased. Aerial mycelium formation was increased by buprofezin treatment, but mycelial morphology was not changed. Protoplast formation of Pleurotus ostreatus and P. sajor-caju. was significantly increased when buprofezin was added to the culture medium at the concentration of 200~500 ppm and the protoplast reversion of the mushrooms was also increased by the treatment of the buprofezin.

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Identification of Benzidine Metabolites in Rats by Gas Chromatography/Mass Selective Detector and its Toxicity in vitro (Gas-Chromatography/Mass Selective Detector를 사용하여 쥐의 뇨시료 중 benzidine 대사체의 확인 및 in vitro 독성)

  • 류재천;권오승
    • YAKHAK HOEJI
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    • v.44 no.5
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    • pp.384-390
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    • 2000
  • Metabolism study of the dye, benzidine, was performed by gas chromatography-mass selective detector (GC/MSD) in the urine of rats orally administered 100 mg/kg benzidine. Urine samples were collected in metabolic cages for 0-24, 24-48, and 48-72 hrs. Ten ml of the urine was extracted with XAD-2 resin and the XAD-2 column was eluted with methanol. After evaporation, benzidine and its metabolites were extracted with diethyl ether (for non-conjugated fraction). For conjugated metabolites, $\beta$-glucu-ronidase was added to the aqueous layer that was incubated for 1 hr at 5$0^{\circ}C$ and the aqueous layer was extracted as in non-conjugated fraction. Aliquot of trimethylsilylated derivatives was applied to the GC/MSD. The mutagenicity of benzidine and its acetylated metabolites was tested by histidine/reversion assay. Five metabolites observed and confirmed either by electron impact and chemical ionization modes of the GC/MSD, or authentic compounds were monoacetyl-, diacetyl-, hydroxyacetyl-, hydroxydiacetyl-, and hydroxy-benzidine. Monoacetyl-benzidine was more potent than benzidine in histidine/reversion assay. This data indicates that monoacetylation of benzidine may be one of the metabolites produced in metabolic activation process.

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Protoplast Isolation and Reversion from Ganoderma lucidum and Ganoderma sp. (Ganoderma lucidum과 Ganoderma sp.의 원형질체(原形質體) 나출(裸出) 및 환원(還元))

  • Um, Seung-Duk;Chae, Young-Am;Yoo, Young-Bok;You, Chang-Hyun;Cha, Dong-Yeul
    • The Korean Journal of Mycology
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    • v.16 no.1
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    • pp.21-25
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    • 1988
  • This experiment was carried out to investigate proper conditions for protoplast isolation and reversion from Ganoderma lucidum and Gctnoderma sp.. In G. lucidum, 10 mg. $ml^{-1}$ Novozyme 234 with 0.6 M sucrose was proper for protoplast isolation. The optimal reaction time of mycelium with lytic enzyme was five hrs. Protoplast isolation from four-day-old mycelium was the most effective. Protoplast isolation from four-day-old mycelium in G. sp. was optimum in the combination of N ovozyme 234 and ${\beta}-glucuronidase$ with 0.6 M sucrose. MCM was suitable for reversion in G. lucidum while SCM was good for G. sp.. The most effective osmoticum stabilizer for protoplast reversion in G. lucidum and G. sp. was 0.6 M sucrose.

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Effect of Processing on the Antimutagenicity of Rice (쌀의 돌연변이 억제활성에 미치는 가공처리의 영향)

  • Kim, In-Ho;Chun, Hyang-Sook;Ha, Tae-Youl;Moon, Tae-Wha
    • Korean Journal of Food Science and Technology
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    • v.27 no.6
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    • pp.944-949
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    • 1995
  • To investigate the effect of processing on the antimutagenicity of rice, antimutagenic effect of rice products including cooked rice, plain steamed rice bread(baikseolgi) and parched rice powder were observed. They showed inhibitory effects of $46%{\sim}100%$ on the frameshift mutation, whereas they showed little inhibitory effect on the base substitution mutation in the Salmonella typhimurium reversion assay. No inhibitory effect was found in the SOS chromotest. Inhibitory effect was more clearly observed on the indirect-acting mutagen than on the direct-acting mutagen. In case of the S. typhimurium reversion assay, the range of inhibition rate against the frameshift and base substitution mutation was $75%{\sim}100%$ and $66%{\sim}87%$, respectively, and was $19%{\sim}67%$ in the SOS chromotest. Antimutagenic activity of raw rice was supposed to be maintained in processed rice products.

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Mutagenecity Test of SDK (SDK시제품(가칭)에 대한 변이원성시험)

  • 정지윤;이원우;임종희;남정석;제정환;이광훈;강병철;이병희;박재학
    • Toxicological Research
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    • v.14 no.2
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    • pp.211-216
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    • 1998
  • In order to evaluate the mutagenic potential of SDK(skin decontamination kit) produced by Agency for Defense Development(ADD), were performed Salmonella typhimurium reversion assay, chromosomal aberration test on chinese hamster ovarian cells and in vivo micronucleus assay using mouse bone marrow cells according to the established regulation of Korean Food and Drug Administration. In the reverse mutation test using Salmonella typhimurium TA98, TA100, TA1535 and TA1537 did not in-crease the number of revertant at any of the concentration tested in this study. SDK did not increase the number of cells having structural or numerical chromosome aberration in cytogenetic test. In mouse micronucleus test, no significant increase in the occurrence oj micro nucleated polychromatic erythrocytes were observed in ICR male mice intraperitoneally administered with SDK. These results indicate that SDK has no mutagenic effects under these experimental conditions.

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Genotoxicicological Safety Estimate for the Rhus-II (옻나무 추출액(Rhus-II)의 안전성에 관한 유전독성학적 평가)

  • Choi Changsun;Han Dong Un
    • Journal of Food Hygiene and Safety
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    • v.20 no.1
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    • pp.18-21
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    • 2005
  • These observations were performed to investigate the safety of the natural herbs (Rhus-II) in respect of genotoxicity. This substance was examined in two in-vitro tests: (1) Salmonella typhimurium reversion assay (Ames test) in strain TA 98, TA 100, TA 1535 and TA 1537, (2) in vitro chromosome aberration test in cultured Chinese hamster ovary (CHO) cells. In the reverse mutation test, Rhus-II did not induced mutagenicity in Salmonella typhimurium reversion assay(Ames test) with or without metabolic activation. In the chromosome aberration assay using CHO cells, there was no increased incidence of structural and numerical aberrations with or without metabolic activation. These results indicated that, the Rhus-II had no genotoxicity.

Genotoxicological Safety of Gamma Irradiated Salted and Fermented Shrimp (감마선조사 새우젓의 유전독성학적 안전성평가)

  • 강일준;정차권;이영숙;오성훈;변명우
    • Food Science and Preservation
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    • v.8 no.2
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    • pp.193-198
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    • 2001
  • Gamma irradiation at 20 kGy was apploed to salted and fermented shrimps to evaluate its possible genotoxicity. The genotoxicity of irradiated salted and fermented shrimps was evaluated by Salmonella typhimurium reversion assay, chromosomal aberration test and in vivo micronucleus assay. The results were negative in the bacterial reversion assay with S. typhimurium TA98, TA100. No mutagenicity was detected in the assay both with and without metabolic activation. In chromosomal aberration tests with CHL cells and in vivo mouse micronucleus assay, no significant difference in the incidences of chromosomal aberration and micronuclei was observed between nonirradiated and 20 kGy-irradiated salted and fermented shrimps. These results indicate that salted and fermented shrimps irradiated at 20 kGy did not show any genotoxic effects under these experimental conditions.

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Isolation and Regeneration of P0rotoplast in Streptomyces antibioticus

  • Myeonggu, Yeo;Koh, Hancheol;Park, Kyoungsu;Park, Yeal
    • Korean Journal of Microbiology
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    • v.30 no.6
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    • pp.514-518
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    • 1992
  • The present study has been perromed to investigate the optimal conditions for protoplast formation and regeneration of oleandomycin-producing Streptomyces antibioticus (S. antibioticus) KCTC 1081. Mycelia were grown in YME medium containing 0.2% (w/v) glycine and converted into the protoplast by incubating at 35.deg.C for 60 minutes in protoplast buffer (P buffer) containing 4 mg/ml lysozyme. The reversion of protoplasts to the normal filamentous state was examined by the growth on various synthetic agar media. A high reversion rate was obtained by incubating the protoplasts on a hypertonic agar medium containing 20 mM $Mg^{++}$, 5 mM $Ca^{++}$ and 0.3 M sucrose at 28.deg.C for 5 days. From these experiments, we established the improved regeneration medium and a protocol which supports higher and more consistent levels of regeneration of S. antibioticus protoplasts. The regenerant showed an increased antimicrobial activity compared with that of the initial strain.n.n.

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