• Journal of Service Research and Studies
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• v.10 no.4
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• pp.71-88
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• 2020

CB(Convertible bond) is mezzanine security that have the characteristics of bonds and stocks. From the perspective of investors, the purpose of the research is to empirically investigate the degree of investment efficiency of CB and to suggest efficient investment plans. The research method investigated the maturity interest rate, conversion price, and conversion date for CB, and then linked it with daily stock price fluctuations after the conversion date to determine the degree of investment efficiency and stock conversion effect of CB. As a result of the study, it was analyzed that the ratio of the conversion price exceeded days was only about 1/4 of the conversion date, so the investment efficiency was low. The conversion day yield was -6.3% on average and the maturity day yield was -5.2% on average, showing a minus return on average, which was calculated differently from investor expectations. It was analyzed that the number of stocks with a minus conversion day is 2.4 times greater than the number of plus stocks and 3.7 times more than the number of plus stocks with a minus maturity return, so the expected return on stock conversion of CB is low. The research contribution was derived from the problem that the expected rate of return of CB is not high, and it is that the investor's point of view when purchasing CB was established.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.5
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• pp.465-474
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• 2022

Using structural equation modeling, the study aims to investigate the causal relationship between working capital policies and working capital indicators on firm performance, including profitability and market value (SEM). The samples of 381 firms were selected from various industries listed on the Stock Exchange of Thailand (SET) from 2016 to 2020. The results showed that 1) there is an effect of working capital policies on profitability and market value; 2) there is an effect of working capital indicators on profitability and market value and 3) there is the effect of profitability on market value. From the results, it is suggested that conservative working capital investment policy (CIP) and conservative working capital financing policy (CFP) affect a company's performance in the Thailand context. In addition, shortening the cash conversion cycle (CCC) should be applied in management to increase profitability by reducing the receivables collection period (RCP) and inventory conversion period (ICP) while increasing the payables deferral period (PDP). The practical implications of the study provide the evidence that meeting the dues according to short CCC management can represent healthy liquidity in cash flow that helps gain investor confidence and the investment interest that further increases the market value.

• Journal of Industrial Convergence
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• v.18 no.5
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• pp.1-13
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• 2020

The purpose of this study is to find out how much the investment effect of convertible bond(CB) is from the perspective of investors and to present efficient investment plans to investors. The research method is to investigate the coupon interest rate, maturity interest rate, conversion price, etc. for CBs. As a result of the study, it was analyzed that CB's investment efficiency was low because the conversion price excess days ratio was only about 1/4 of the conversion date. The conversion day yield was -6.3% and the maturity day yield was -5.2% on average. It was analyzed that the number of stocks with negative conversion day yield was 2.4 times higher than the number of positive stocks and 3.7 times higher than the number of positive stocks with a maturity day yield, so the expected return on equity conversion of CB was low.

• Korean Journal of Fisheries and Aquatic Sciences
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• v.1 no.2
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• pp.121-127
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• 1968

This research has been dealt with the nutritional component analysis of two kinds of non-edible marine algae, Sargassum herneri (Turner) C. Ag. and Zostera marina Linne which grow abundantly around the southern coast of Korea, These marine algae were mixed in several kinds of samples rates with the combined feed for poultry sold in the market. These were given to 35 chicken in seven test divisions respectively. We have experimented with 35 chicken grown up for two weeks after hatchout. The combined food for poultry obtained from the market was set up as control divisions. The experiments were as follows: 1) The average weight increase in each test division during feeding (Table 5, Fig.2). 2) Food conversion rate and food efficiency in each test division (Table 7). 3) The comparison of digestive rate of crude protein during feeding (Table 8), The results were as follows: 1) The weight increasing rate of the test animal stock fed the food containing $5\~10\%$ of Sargassum horneri (Turner) C. Ag. powder was higher than the rate of those fed only market food for poultry. 2) The stock given food containing $10\%$ Zostera marine powder showed lower growth than the control divison. 3) No apparent trouble owing to salt component involved in the marine algae was found. 4) The stock given food containing sodium glutaminate and Sargassum horneri (Turner) C. Ag. had better result than that without sodium glutaminate.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.10
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• pp.741-750
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• 2020

This study examines the influence of working capital management (WCM) factors on the profitability of steel companies listed on the Stock Exchange of Vietnam. Data was collected from audited financial statements of companies for a period of 10 years, from 2010 to 2019. The number of samples eligible for research is 20 out of 26 companies, which is equivalent to 76.9%. With the help of dedicated software Stata version 14, the impact determination of WCM (through 8 independent variables: DIO, DPO, DSO, CCC, SIZ, CR, LEV, GRO) to the firm's profitability (through the dependent variable) is performed through multivariate regression models. Research results from companies in the steel industry in Vietnam during this period indicate that WCM has a strong impact on the profitability of businesses. Among 8 factors affecting the profitability of steel enterprises, factors DPO, DIO, DSO, CR, SIZ, GRO have a positive impact, boosting profitability; 2 factors CCC and LEV have a negative impact on profitability; in which, the effect of CCC is negligible. This conclusion is almost in contrast to many previously published studies due to the specifics of the industry as well as the different stages of economic development associated with the economic management policies of the State.

• Korean Journal of Poultry Science
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• v.49 no.4
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• pp.239-246
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• 2022

This study was conducted to investigate the effects of dietary γ-aminobutyric acid (GABA) and a probiotic mixture on egg production and quality, blood parameters, and stress levels (corticosterone) in Hy-Line parent stock during summer in Korea. A total of 105 Hy-Line parent stock aged 24 weeks were randomly divided into three groups, each containing thirty-five birds: control, γ-aminobutyric acid (GABA), and probiotics (1 × 10⁸/g Bacillus licheniformis, 1 × 10⁷/g Lactobacillus plantarum, and 1 × 10⁷/g Corynebacterium butyricum). The hens were fed a diet containing 50 ppm GABA or 0.1% probiotics for 6 weeks. Compared with the control group, the hen-day egg production, egg mass, and feed conversion ratio over the total period were significantly higher in the probiotic group (P<0.05). In contrast no significant differences were detected among groups with respect to egg weight, albumen height, Haugh units, yolk color, shell thickness or shell strength. Similarly, no significant difference were observed among groups with regards to biochemical profile (total cholesterol, triglyceride, glucose, total protein, aspartate aminotransferase, alanine aminotransferase, albumin, and inorganic phosphorus). However, compared with the control group, we did detect significant reductions in corticosterone levels in the GABA and probiotics groups (P<0.05). On the basis of our findings in this study, it would appear that dietary GABA and probiotics can alleviate heat stress in Hy-Line parent stock, with probiotics in particular being found to promote significant improvements in the hen-day egg production, egg mass, and feed conversion of laying hens during the summer season in Korea.

• Proceedings of the KSR Conference
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• 2008.06a
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• pp.1137-1142
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• 2008

In this paper, an effect on power conversion unit in high-speed railway vehicle by loss of contact between a catenary system and pantograph suppling electrical power to high-speed railway vehicle are investigated. One of the most important needs accompanied by increasing the speed of high-speed railway vehicle is reduced that arc phenomenon by loss of contact brings out EMI. in case of high-speed railway vehicle using electrical power, as comparison with diesel rolling stock, PLD(Power Line Disturbance) such as harmonic, transient voltage and current, EMI, dummy signal injection etc usually occur. To analysis the effect on loss of contact, it is necessary electrical modeling system between the contact line and the pantograph according to the loss of contact. Therefore analytical model of a contact line and a pantograph is constructed to simulate the behaviour of loss of contact. The reliability of the modeling system is verified by simulation implementation on kinds of loss of contact.

• Korean Journal of Poultry Science
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• v.47 no.1
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• pp.1-7
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• 2020

The effect of stocking density on the growth and meat quality of native Korean chickens was investigated. A total of 364 one-day-old native Korean chickens were randomly assigned to one of 5 treatments, each of which was replicated 4 times. Five distinct stocking densities-14, 15, 16, 18, and 22 birds/㎡-were compared. The diet was fed ad libitum for 10 weeks. Results indicated that the final body weight, body weight gain, and feed intake were lower (P<0.05) for the 22 birds/㎡ stock density as compared to the other stock densities. There was no significant difference in the feed conversion ratio, proximate analysis (DM, crude protein, crude fat, and crude ash), water-holding capacity, and cooking loss among the different stock densities. These results indicate that increasing the stock density to 22 birds/㎡ elicits some negative effects on the growth performance and meat quality of Korean-native chickens.

• Journal of Intelligence and Information Systems
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• v.25 no.1
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• pp.63-83
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• 2019

Investors prefer to look for trading points based on the graph shown in the chart rather than complex analysis, such as corporate intrinsic value analysis and technical auxiliary index analysis. However, the pattern analysis technique is difficult and computerized less than the needs of users. In recent years, there have been many cases of studying stock price patterns using various machine learning techniques including neural networks in the field of artificial intelligence(AI). In particular, the development of IT technology has made it easier to analyze a huge number of chart data to find patterns that can predict stock prices. Although short-term forecasting power of prices has increased in terms of performance so far, long-term forecasting power is limited and is used in short-term trading rather than long-term investment. Other studies have focused on mechanically and accurately identifying patterns that were not recognized by past technology, but it can be vulnerable in practical areas because it is a separate matter whether the patterns found are suitable for trading. When they find a meaningful pattern, they find a point that matches the pattern. They then measure their performance after n days, assuming that they have bought at that point in time. Since this approach is to calculate virtual revenues, there can be many disparities with reality. The existing research method tries to find a pattern with stock price prediction power, but this study proposes to define the patterns first and to trade when the pattern with high success probability appears. The M & W wave pattern published by Merrill(1980) is simple because we can distinguish it by five turning points. Despite the report that some patterns have price predictability, there were no performance reports used in the actual market. The simplicity of a pattern consisting of five turning points has the advantage of reducing the cost of increasing pattern recognition accuracy. In this study, 16 patterns of up conversion and 16 patterns of down conversion are reclassified into ten groups so that they can be easily implemented by the system. Only one pattern with high success rate per group is selected for trading. Patterns that had a high probability of success in the past are likely to succeed in the future. So we trade when such a pattern occurs. It is a real situation because it is measured assuming that both the buy and sell have been executed. We tested three ways to calculate the turning point. The first method, the minimum change rate zig-zag method, removes price movements below a certain percentage and calculates the vertex. In the second method, high-low line zig-zag, the high price that meets the n-day high price line is calculated at the peak price, and the low price that meets the n-day low price line is calculated at the valley price. In the third method, the swing wave method, the high price in the center higher than n high prices on the left and right is calculated as the peak price. If the central low price is lower than the n low price on the left and right, it is calculated as valley price. The swing wave method was superior to the other methods in the test results. It is interpreted that the transaction after checking the completion of the pattern is more effective than the transaction in the unfinished state of the pattern. Genetic algorithms(GA) were the most suitable solution, although it was virtually impossible to find patterns with high success rates because the number of cases was too large in this simulation. We also performed the simulation using the Walk-forward Analysis(WFA) method, which tests the test section and the application section separately. So we were able to respond appropriately to market changes. In this study, we optimize the stock portfolio because there is a risk of over-optimized if we implement the variable optimality for each individual stock. Therefore, we selected the number of constituent stocks as 20 to increase the effect of diversified investment while avoiding optimization. We tested the KOSPI market by dividing it into six categories. In the results, the portfolio of small cap stock was the most successful and the high vol stock portfolio was the second best. This shows that patterns need to have some price volatility in order for patterns to be shaped, but volatility is not the best.

• Korean Journal of Veterinary Research
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• v.40 no.2
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• pp.345-360
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• 2000

The effects on CTC (T1) and CTC, Sulfathiazole and Penicillin Combination (T2) medication in feed through one life cycle of pigs, namely, weaning, mating, farrowing, lactation, growing, finishing and slaughter, were tested under local condition. In sow phase, productivity and the number of microflora in urine before and after medication of CTC were studied and average daily gain and feed conversion rate were checked during growing and finishing period. All pigs reached at 155 days old were slaughtered for pathological examination. 1. Litter size, farrowing rate and survival rate at birth were improved by CTC medication from weaning to 21th day after mating and mortality of piglet at weaning, 25 days after farrowing, was reduced in the CTC medication group, but no siginificant. 2. The number of microflora in the sow urine was changed with the medication at 200ppm of CTC in feed. In particular, the number of E coli, Samonella and Staphylococci were reduced by CTC medication. 3. The average daily gain and feed conversion rate of grower and finisher pigs was improved significantly in both treated groups, most in the high level CTC (T1) medicated group and was lowest in the control group. 4. The number of infected lungs was reduced not significant by both treatments (as % pneumonic lesions Co 66.7%, T1 47.1%, T2 31.4%) and the severity of lung lesions was significantly reduced by both high level of CTC and CTC combination medication in feed. 5. Although there were no statistical differences in atrophic rhinitis based on turbinate scores among the 3 groups, the number of mild and moderate (Grade 2 and 3) infections was higher in the control group (9/36) than in the treated groups (T1 2/34 & T2 4/35).