• Journal of Food Hygiene and Safety
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• v.13 no.2
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• pp.112-120
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• 1998

This study was performed to investigate the synergistic effect of chitosan and sorbic acid as a new food preservative. So it was performed to investigate inhibitory effect on growh of E. coli 0157:H7, gram negative pathogenic food borne disease bacteria and of S. aureus, gram positive food borne disease bacteria in chitosan, sorbic acid and combination of chitosan and sorbic acid. Minimun Inhibitory Concentration (MIC) of chitosan in E. coli 0157:H7 was 500 ppm at pH 5.0, 250 ppm at pH 5.5, 500 ppm at pH 6.0, and 2000 ppm at pH 6.5, while in Staph. aureus 31.25 ppm at pH 5.0 and 62. 5 ppm at more than pH 5.5. also, MIC of sorbic acid in E. coli 0157:H7 was 500 ppm at pH 5.0, 1500 ppm at pH 5.5, and 2000 ppm at more than pH 6.0, while in Staph. aureus 1500 ppm at pH 5.0 and more than 2000 ppm at more than pH 5.5. Due to the effect of pH in E. coli 0157:H7, MIC of combined chitosan and sorbic acid was 500 ppm of chitosan with 500 ppm of sorbic acid at pH 6.5, but 250 ppm of chitosan with 31.3 ppm of sorbic acid at pH 5.0. In Staph. aureus, there was great effect of chitosan, but neither effect of pH nor sorbic acid. When E. coli 0157:H7 were treated with 500 ppm of chitosan with 500 ppm of sorbic acid and 250 ppm of chitosan with 250 ppm of sorbic acid at pH 6.5, they were inhibited. But, they were increased at the initial concentration of bacteria at 1000 ppm of chitosan in 18 hours, at 500 ppm of chitosan in 36 hours. There was no effect of growth inhibition with sorbic acid but great effect with chitosan on Staph. aureus. The correl~tions between MICs of chitosan and sorbic acid in E. coli 0157:H7 accoding to pH were higher than those in Staph. aureus. R values in E. coli 0157:H7 were 0.95 (p<0.01), 0.99 (p<0.01), 0.97 (p<0.01), and 0.99 (p<0.01) at pH 6.5, 6.0, 5.5, and 5.0 respectively. The synergistic effect of chitosan and sorbic acid in E. coli 0157:H7 could be confirmed from the result of this experiment. Therefore, it was expected that the food preservation would increase or maintain by using sorble acid together with chitosan, natural food additive that did no harm to human body.

• The Korean Journal of Financial Management
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• v.13 no.1
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• pp.341-357
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• 1996

Some empirical studies have shown that asset prices respond to announcements of economic news, however, others also have found little evidence. This study assesses how market participants of the S&P 500 Index Futures reacted to the U.S. economic news announcements. For this purpose, using a GARCH (Generalized Autoregressive Conditional Heteroscedasticity) model, we use several U.S. news variables, its each surprise component and interest rates. We find that some economic news variables affected significantly on the S&P 500 Index Futures. In other words, we find that weekend variable, lagged volatility, and surprise component of trade deficit increased level of volatility. However, interest rate, M1, unemployment announcements caused the variance of the S&P 500 Index Futures to reduce, and each of the surprise component of M1 and trade deficit increased it. The result suggests that resolution of uncertainty, through economic news announcement, while, in some cases, causes market participants to reduce their forecast of volatility, a large difference between the market's forecast and the realization of the series causes the volatility to increase.

• Asian-Australasian Journal of Animal Sciences
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• v.2 no.2
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• pp.77-84
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• 1989

Twenty-four Hereford steers, 22 months old and a mean liveweight (${\pm}\;s.e.$) of $250\;{\pm}\;7\;kg$ were used in an experiment to evaluate over 42 days two rates of copra meal supplementation to cattle on a low N ($8.6\;{\pm}\;0.9$ g N/kg dry matter (DM)), low digestible ($45\;{\pm}\;5.2%$ DM) native pasture hay. Steers given the two rates (500, 1000 g/steer/day; i.e. 500C, 1000C) were compared to steers on a non-supplemental diet and to the effects on steers of supplemental urea (30g/steer/day; 30U) or with copra meal (500 g/steer/day; 500C.U), or of cottonseed meal (500 g/steer/day; 500S). Liveweight change was increased (P<0.01) by all of the supplements except by supplemental urea. The most effective treatment, 1000C, increased significantly (P<0.01) liveweight change (946 g/day) in steers above all supplements except those steers given 500C.U (718 g/day). Hay intake per unit liveweight was increased (P<0.05) by 7% by the 30U and 500C.U treatment, and by 9% by 500C; this group having the highest supplements, being greatest (P<0.05) for the 1000C group (6.0 g feed intake/g gain) and least for the 500S supplemented group (11.5 g/g gain). Efficiency was lowest (18.6 g/g gain) for the non-supplemented steers on the basal hay diet. Copra meal N was less degradable (i.e. 29%) in nylon bags over 15 hours in the rumen than was cottonseed meal N (37%), and rumen ammonia concentrations were lower (P<0.05) in cattle supplemented with copra meal (25, 27 mg N/L) than in cattle given urea (36 mg N/L) or cottonseed meal (39 mg N/L). It is concluded that copra meal at a daily rate of 500 g/head, and with rumen soluble nitrogen from urea, is an effective supplement for improving growth of cattle on a low quality forage.

• Journal of Intelligence and Information Systems
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• v.2 no.2
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• pp.43-54
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• 1996

Financial markets are operating 24 hours a day throughout the world and interrelated in increasingly complex ways. Telecommunications and computer networks tie together markets in the from of electronic entities. Financial practitioners are inundated with an ever larger stream of data, produced by the rise of sophisticated database technologies, on the rising number of market instruments. As conventional analytic techniques reach their limit in recognizing data patterns, financial firms and institutions find neural network techniques to solve this complex task. Neural networks have found an important niche in financial a, pp.ications. We a, pp.y neural networks to Standard and Poor's (S&P) 500 stock index futures trading to predict the futures marker behavior. The results through experiments with a commercial neural, network software do su, pp.rt future use of neural networks in S&P 500 stock index futures trading.

• Management Science and Financial Engineering
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• v.21 no.2
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• pp.13-23
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• 2015

This study addresses the question as to whether the option prices have useful predictive information on the direction of stock markets by investigating a forecasting power of volatility curvatures and skewness premiums implicit in S&P 500 index option prices traded in Chicago Board Options Exchange. We begin by estimating implied volatility functions and risk neutral price densities every minute based on non-parametric method and then calculate volatility curvature and skewness premium using them. The rationale is that high volatility curvature or high skewness premium often leads to strong bullish sentiment among market participants. We found that the rate of return on the signal following trading strategy was significantly higher than that on the intraday buy-and-hold strategy, which indicates that the S&P500 index option prices have a strong forecasting power on the direction of stock index market. Another major finding is that the information contents of S&P 500 index option prices disappear within one minute, and so one minute-delayed signal following trading strategy would not lead to any excess return compared to a simple buy-and-hold strategy.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.9 no.2
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• pp.15-21
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• 2014

The long memory properties of the hedge ratio for stock and futures have not been systematically investigated by the extant literature. To investigate hedge ratio' long memory, this paper employs a data set including KOSPI200 and S&P500. Coakley, Dollery, and Kellard(2008) employ a data set including a stock index and commodities foreign exchange, and suggested the S&P500 to be a fractionally integrated process. This paper firstly estimates hedge ratios with two dynamic models, BEKK(Bollerslev, Engle, Kroner, and Kraft) and diagonal-BEKK, and tests the long memory of hedge ratios with Geweke and Porter-Hudak(1983)(henceforth GPH) and Lo's modified rescaled adjusted range test by Lo(1991). In empirical results, two hedge ratios based on KOSPI200 and S&P500 show considerably significant long memory behaviours. Thus, such results show the hedge ratios to be stationary and strongly reject the random walk hypothesis on hedge ratios, which violates the efficient market hypothesis.

• Journal of Korea Port Economic Association
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• v.38 no.4
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• pp.107-118
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• 2022

In this study, daily data from January 2002 to June 2022 were used to investigate the relationship between risk-return relationship and market fear, uncertainty, stock market, and maritime freight index for the crude oil market. For this study, the time varying EGARCH-M model was applied to the risk-return relationship, and the wavelet consistency model was used to analyze the relationship between market fear, uncertainty, stock market, and maritime freight index. The analysis results of this study are as follows. First, according to the results of the time-varying risk-return relationship, the crude oil market was found to be related to high returns and high risks. Second, the results of correlation and Granger causality test, it was found that there was a weak correlation between the risk-return relationship and VIX, EPU, S&P500, and BDI. In addition, it was found that there was no two-way causal relationship in the risk-return relationship with EPU and S&P500, but VIX and BDI were found to affect the risk-return relationship. Third, looking at the results of wavelet coherence, it was found that the degree of the risk-return relationship and the relationship between VIX, EPU, S&P500, and BDI was time-varying. In particular, it was found that the relationship between each other was high before and after the crisis period (financial crisis, COVID-19). And it was found to be highly associated with organs. In addition, the risk-return relationship was found to have a positive relationship with VIX and EPU, and a negative relationship with S&P500 and BDI. Therefore, market participants should be well aware of economic environmental changes when making decisions.

• International Area Studies Review
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• v.13 no.2
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• pp.255-276
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• 2009

This article has examined the international transmission of returns among S&P500, Nikkei225 and SENSEX stock index cash markets using the daily closing prices covered from January 4, 2002 to February 6, 2009. For this purpose we employed dynamic time series models such as the Granger causality analysis and variance decomposition analysis based on VAR model. The main empirical results are as follows; First, according to Granger causality tests we find that S&P500 stock index has a significant prediction power on the changes of SENSEX and Nikkei225 stock index market and vice versa. However, US stock market's influence is dominant to the other stock markets at a significant level statistically. Second, according to variance decomposition, SENSEX stock index is more sensitive to the movement of S&P500 than that of Nikkei225 stock index. These kinds of empirical results shows that the three stock markets are integrated over times and these results will be informative for the international investors to build the world-wide investment portfolio and risk management strategies, etc.

• Asian-Australasian Journal of Animal Sciences
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• v.9 no.1
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• pp.101-106
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• 1996

This experiment was conducted to investigate the effect of bST administration on growth performance and carcass characteristics of finishing Korean native bulls. Fifty four Korean native bulls of about 14 months of age weighting an average 420 kg were assigned to receive no injection of bST, 250 mg of bST s.c. injection every week, or 500 mg bST s.c. injection every 2 weeks (Control, 250ST, 500ST) in a $3{\times}3$ randomized block design for a period of 20 weeks Animals administered with bST responded with decreased feed DMI by 8%(p < 0.01), increased ADG by 12%(p < 0.05), and increased gain/feed ratio by 20%(p < 0.01). But there was no significant difference in the growth performance between 250ST and 500ST. Administration of bST increased dressing percentage by 1.8%(p < 0.05), and tended to increase longissimus muscle area and decrease backfat thickness and marbling score.

• Advances in Traditional Medicine
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• v.7 no.4
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• pp.409-417
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• 2007

We investigated the effect of Arogh, a polyherbal formulation (PHF) on animal models of anxiety based on exploratory behavior. The anxiolytic activity of polyherbal formulation (30, 100, 300 and 500 mg/kg) was studied using various behavioural paradigms such as elevated plus maze (EPM), light/dark apparatus (LDA), open field apparatus (OFA), hole board apparatus (HBA). Diazepam (1 mg/kg) was used as a standard anxiolytic drug. The effect of PHF (100 and 300 mg/kg) on serotonin, dopamine and noradrenaline mediated behaviour was studied by lithium induced head twitches in rats, haloperidol induced catalepsy in mice and clonidine induced hypothermia in rats respectively. In EPM, PHF (100, 300 and 500 mg/kg) significantly (P < 0.05) increased the time spent in open arms and the number of entries in open arms. In LDA, PHF (100, 300 and 500 mg/kg) significantly (P < 0.05) increased the time spent in lit zone. In OFA, PHF (100, 300 and 500 mg/kg) significantly (P < 0.05) increased the number of assisted rearing and the number of squares traversed. In HBA, PHF (100, 300 and 500 mg/kg) significantly (P < 0.05) increased the number of head poking. In lithium induced head twitches, PHF (100 and 300 mg/kg) significantly (P < 0.05) decreased the number of head twitches. In haloperidol induced catalepsy, PHF (300 mg/kg) decreased the duration of catalepsy significantly (P < 0.05) at 60 min. In clonidine-induced hypothermia, PHF (300 mg/kg) did not modify the effect. Drugs must be carefully assessed on EPM test and therefore in the present study EPM is supported by other tests. Present study indicates that Arogh, a polyherbal formulation possess anxiolytic activity. It diminished serotonergic transmission and decreased the duration of catalepsy indicating potentiation of dopaminergic transmission. Thus, Arogh a polyherbal formulation contains bioactive principles which possess anxiolytic activity and modified 5-HT and DA mediated behaviour.