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The Relationships between Abnormal Return, Trading Volume Activity and Trading Frequency Activity during the COVID-19 in Indonesia

  • SAPUTRA G, Enrico Fernanda;PULUNGAN, Nur Aisyah Febrianti;SUBIYANTO, Bambang
    • The Journal of Asian Finance, Economics and Business
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    • v.8 no.2
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    • pp.737-745
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    • 2021
  • This study aims to determine whether there are differences in the average abnormal return, trading volume activity, and trading frequency activity in pharmaceutical stocks before and after the announcement of the first case of the coronavirus (COVID-19) in Indonesia. The sample was selected using a purposive sampling method and collected as many as nine pharmaceutical companies listed on the Indonesia Stock Exchange during 2019-2020. The data used in this study were secondary data in the form of daily data on stock closing prices, Composite Stock Price Index (IHSG), stock volume trading, number of shares outstanding, and stock trading frequency. This study was an event study with an observation period of 14 days, namely seven days before and seven days after the announcement of the coronavirus's first positive case in Indonesia. Hypothesis testing employed the paired sample t-test method. Based on the results, it was found that there was no difference in the average abnormal return of pharmaceutical stocks before and after the announcement of the first case of COVID-19. However, there was a difference in the average trading volume activity and the average trading frequency activity in pharmaceutical stocks before and after the announcement of the first case of COVID-19.

Effect of Crosslinking on the PTC Stability Carbon Black Filled HDPE/EEA Copolymer Composite (카본블랙 충전 HDPE/EEA Copolymer 복합재료에 있어서 가교구조가 PTC 특성에 미치는 영향)

  • Lee, Gun-Joo
    • Proceedings of the KIEE Conference
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    • 2001.11a
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    • pp.140-145
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    • 2001
  • In order to apply for silane crosslinking process to PTC products, especially. self-regulating heater, silane crosslinked samples were compared with radiation crosslinked sample in terms of PTC characteristic and PTC stability. Silane crosslinked samples have lower PTC intensity than radiation crosslinked sample. It can be explained that multiple networks of silane crosslink restrict the movement of molecules in the composite as the sample is heating. As a result of heat cycles at $140^{\circ}C$, the changes of volume resistivity and PTC intensity for radiation crosslinked sample were higher than those of silane crosslinked samples. Whereas, in the case of heat cycles at $85^{\circ}C$, which is limiting temperature for self-regulating heater, both silane and radiation crosslinked samples show stable results without pronounce changes of resistivity up to five cycles.

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Clustering of 2D-Gel Images

  • Hur, Won
    • 한국생물공학회:학술대회논문집
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    • 2003.10a
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    • pp.746-749
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    • 2003
  • Alignment of 2D-gel images of biological samples can visualize the difference of expression profiles and also inform us candidates of protein spots to be further analyzed. However, comparison of two proteome images between case and control does not always successfully identify differentially expressed proteins due to sample-to-sample variation. Because of poor reproducibility of 2D-gel electrophoresis, sample-by-sample variations and inconsistent electrophoresis conditions, multiple number of 2D-gel image must be processed to align each other to visualize the difference of expression profiles and to deduce the protein spots differentially expressed with reliability. Alignment of multiple 2D-Gel images and their clustering were carried out by applying various algorithms and statistical methods. In order to align multiple images, multiresolution-multilevel algorithm was found out to be suitable for fast alignment and for distorted images. Clustering of 12 different images implementing a k-means algorithm gives a phylogenetic tree of distance map of the proteomes. Microsoft Visual C++ was used to implement the algorithms in this work.

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THE EFFECTS OF POPULATION SIZE AND DOMINANCE OF QUANTITATIVE TRAIT LOCI (QTL) ON THE DETECTION OF LINKAGE BETWEEN MARKERS AND QTL FOR LIVESTOCK

  • Jeon, G.J.
    • Asian-Australasian Journal of Animal Sciences
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    • v.8 no.6
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    • pp.651-655
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    • 1995
  • A simulation study on detection of linkage between genetic markers and QTL in backcross design was conducted. The effects of various sample sizes and the degree of QTL dominance on detention of linkage were examined by using a simple regression analysis. The results indicated that as sample size increased, the standard error of the estimated slope became smaller. When the dominance effect of QTL was complete, the estimated slope tended to be negative but was statistically not significant at all with type I error of greater than 50%. With complete linkage between genetic Marker and QTL, the estimated intercept value was smallest but the estimated slope was largest as expected. In most cases with various degree of dominance and sample sizes, when the actual recombination rate became larger, greater values were obtained for the slope except in the case of complete dominance of QTL.

The Convergence Characteristics of The Time- Averaged Distortion in Vector Quantization: Part I. Theory Based on The Law of Large Numbers (벡터 양자화에서 시간 평균 왜곡치의 수렴 특성 I. 대수 법칙에 근거한 이론)

  • 김동식
    • Journal of the Korean Institute of Telematics and Electronics B
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    • v.33B no.7
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    • pp.107-115
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    • 1996
  • The average distortio of the vector quantizer is calcualted using a probability function F of the input source for a given codebook. But, since the input source is unknown in geneal, using the sample vectors that is realized from a random vector having probability function F, a time-average opeation is employed so as to obtain an approximation of the average distortion. In this case the size of the smple set should be large so that the sample vectors represent true F reliably. The theoretical inspection about the approximation, however, is not perfomed rigorously. Thus one might use the time-average distortion without any verification of the approximation. In this paper, the convergence characteristics of the time-average distortions are theoretically investigated when the size of sample vectors or the size of codebook gets large. It has been revealed that if codebook size is large enough, then small sample set is enough to obtain the average distortion by approximatio of the calculated tiem-averaged distortion. Experimental results on synthetic data, which are supporting the analysis, are also provided and discussed.

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Risk Evaluation of Oxidizing Substances by Burning Test Method (연소시험법에 의한 산화성물질의 위험성 평가)

  • 정국삼
    • Journal of the Korean Society of Safety
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    • v.7 no.3
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    • pp.73-82
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    • 1992
  • This paper was concerned with the risk evaluation of oxidizing substances by burning test method. The samples were prepared the heaped cone-shaped mixtures of solid oxidizing sub-stance with sawdust, and ignition of the sample was made on contact with heating wire inside the combution chamber that the temperature and humidity of atmosphere can be kept at $25^{\circ}C$ and 60% respectively. Accordingly, it were measured the combustivity effect of mixing ratio and amount of sample weight on the burning rate. As a result of burning test of these samples, it could be noticed that the case when the sawdust has so and 30 wt.% in the mixing ratio shows effective combustivity, and as the amount of sample weight was increasing, It showed more rapid burning time. So the average burning time could be obtained by considering the weighting factors to the parameters of the mixing ratio and the amount of sample weight. Finally, it was compared with the effects of cation and anion of oxidizing substances and also applied analytically to the classification and evaluation of oxidizing sub-stances as dangerous goods.

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The effectiveness of geosynthetic reinforcement, tamping, and stoneblowing of railtrack ballast beds under dynamic loading: DEM analysis

  • Lobo-Guerrero, Sebastian;Vallejo, Luis E.
    • Geomechanics and Engineering
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    • v.2 no.3
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    • pp.161-176
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    • 2010
  • Discrete Element Method (DEM) simulations were developed to investigate the effectiveness of geosynthetic reinforcement and the effectiveness of maintenance techniques performed on a simulated ballast bed subjected to dynamic loading. The results from four samples subjected each one to a total of 425 load cycles are presented: one unreinforced and unmaintained sample, one unmaintained but reinforced sample, one unreinforced sample subjected to maintenance in the form of stoneblowing after 200 load cycles, and one unreinforced sample subjected to maintenance in the form of tamping after 200 load cycles. The obtained values of permanent deformation as a function of the applied number of load cycles for the four cases are presented together allowing a comparison of the effectiveness of each technique. Moreover, snapshots of the simulated track sections are presented at different moments of the simulations. The simulations indicated that the geosynthetic reinforcement may not be beneficial for the analyzed case while stoneblowing was the most effective maintenance technique.

A Nonparametric Method for Random Signal Detection in Signal-Dependent Noise : Two-Sample Case (신호 의존성 잡음에서 확률 신호 검파를 위한 비모수 방법 : 두 표본을 쓰는 경우)

  • Kim, Chang-Bae;Song, Ik-Ho;Bae, Jin-Su
    • The Journal of Korean Institute of Communications and Information Sciences
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    • v.28 no.4C
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    • pp.374-378
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    • 2003
  • The asymptotic performance of the two-sample locally optimum rank detector for random signals buried in signal-dependent noise and additive noise is consigered in this paper. It is shown that the locally optimum rank detector, a nonparametric detector, has reasonable asymptotic performance for a class of correlated random signals, compared with the locally optimum detector. It is noteworthy that the the two-sample locally optimum rank detector perform almost the same with the one-sample locally optimum rank detector.

Estimation of error variance in nonparametric regression under a finite sample using ridge regression

  • Park, Chun-Gun
    • Journal of the Korean Data and Information Science Society
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    • v.22 no.6
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    • pp.1223-1232
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    • 2011
  • Tong and Wang's estimator (2005) is a new approach to estimate the error variance using least squares method such that a simple linear regression is asymptotically derived from Rice's lag- estimator (1984). Their estimator highly depends on the setting of a regressor and weights in small sample sizes. In this article, we propose a new approach via a local quadratic approximation to set regressors in a small sample case. We estimate the error variance as the intercept using a ridge regression because the regressors have the problem of multicollinearity. From the small simulation study, the performance of our approach with some existing methods is better in small sample cases and comparable in large cases. More research is required on unequally spaced points.

Preemptive or Catch Up? Performance Differences under Enterprise Digital Transformation

  • Peinan Ji;Guang Yu
    • Asia pacific journal of information systems
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    • v.32 no.3
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    • pp.564-579
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    • 2022
  • The use of on-premises technology in the business environment to create a competitive advantage is ushering in a new era known as digital transformation. As the foundation of digital transformation of enterprises, information technology still has a paradoxical effect on enterprises. This paper documents the effect of investments in IT on a firm's long-term profitability performance measures as return on assets (ROA), as well as tests whether the earlier entrant and the later entrant are different in IT investment performance. Using a sample of China's public firms IT investment data between 2016 and 2019, the result indicates that IT investment in firms have a positive effect on firm performance in full sample, but not in the financial industry firms. When it comes to the different investment time, the result shows no significant difference between the earlier entrant firm and the later entrant firm in the full sample, but not in the case of software industry sample. This should help alleviate the concerns that some have expressed about the viability of digital transformation given the highly publicized IT investment and implementation problems at some firms.