• 제목/요약/키워드: Turn-over

검색결과 712건 처리시간 0.025초

VISSIM분석을 통한 회전교차로 인접 신호횡단보도의 최소이격거리 산정 (An Estimation of the Minimum Distance Between a Roundabout and Signal Crosswalk Using VISSIM)

  • 김영범;이동민;전진우;조한선
    • 대한교통학회지
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    • 제33권4호
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    • pp.337-347
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    • 2015
  • 교통문화 선진화 사업의 일환으로 2010년 회전교차로건설을 시작한 이후 현재까지 약 350개 이상의 회전교차로 건설되어 운영되고 있다. 최근에는 회전교차로 설치에 따른 효과가 검증됨에 따라 도시부 도로 뿐만 아니라 일반국도 등의 지역 간선도로로 확대되어 설치되고 있다. 본 연구에서는 회전교차로 설치를 추진되고 있는 교차로 조건이 점점 다양해짐에 따라 다양한 조건들을 검토를 하기 위해 수행되었는데, 특히 어린이보호구역 등에 설치된 신호횡단보도의 영향을 분석하고, 회전교차로와 인접한 신호횡단보도 설치를 위한 최고 거리기준을 제시하고자 한다. 안전한 도로환경을 위한 어린이 보호구역 같은 지역에서 회전교차로를 설치할 경우, 인접 신호횡단보도의 설치를 통해 보행자의 안전성을 확보하면서 회전교차로의 운영효율을 확보할 수 있는 적정 이격거리를 산정해야 한다. 교통시뮬레이션 프로그램인 VISSIM을 이용하여 어린이보호구역 내 회전교차로 설치 시 인접한 신호횡단보도의 이격거리에 따른 평균지체를 산출하였다. 이를 통해, 회전교차로 인접 신호횡단보도 설치 시 교통량, 방향별 교통량비율, 보행녹색시간 별 회전교차로의 운영 효과를 유지할 수 있는 최소 이격거리 기준을 제시하였다. 각 조건별로 일정 이격거리 이후부터는 어린이보호구역 같은 지역에서 신호횡단보도를 설치하여도 기존에 회전교차로의 효과를 유지할 수 있는 것으로 분석되었다. 결과적으로 진입교통량이 200-500대/시 이하, 좌회전 비율이 20-40%, 보행신호시간이 15초 이상인 경우 평균적으로 50m의 최소이격거리가 필요한 것으로 산정되었다. 본 연구에서의 회전교차로 인접 신호횡단보도 이격거리 산정결과는 어린이보호구역과 인접한 도로에서 최소 40m이상의 이격거리를 고려한다면 회전교차로의 설치 가능을 확인하였다.

디지털 무선 검출기를 이용한 이동형 X선검사에서 영상품질 저하의 요인분석 (An Analysis of Factors That Affect Image Quality Deterioration in The Potable X-ray Examination on using Digital Wireless Detector)

  • 유영은;임청환;고주영
    • 대한방사선기술학회지:방사선기술과학
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    • 제37권2호
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    • pp.93-100
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    • 2014
  • 최근 무선 LAN통신 기능을 이용하여 보다 간편하고 빠르게 디지털 방사선 영상을 획득할 수 있는 디지털 무선 이동촬영장치가 개발되어 많은 편의성을 제공하고 있다. 응급 또는 중환자를 대상으로 시행하는 이동촬영(Portable)검사 특성상 발생할 수 있는 초점-격자 간 중심변위와 피사체의 검출기내 위치변위가 영상화질에 미치는 영향을 평가하여 디지털 무선 검출기의 가이드라인을 제시하고자 한다. 본 연구에서 사용된 장비는 Elmo-T6 Digital Mobile X선시스템(SIMAZU사), el' Tor($14{\times}17$"Wireless detector), 격자(10:1), Chest & head phantom을 사용하였다. 선량증가에 따른 후처리 영상과 초점-격자 간 중심변위와 두부팬텀의 위치변위 영상을 획득한 후 디지털 영상분석 프로그램 Image J를 사용하여 영상을 비교분석 평가하였다. 선량증가에 따른 영상의 변화에서 0.5 mAs의 선량에서는 영상이 거칠고, 적정선량인 1~2 mAs에서 시각적으로 영상의 차이를 알 수 없었고, 특히 2.5 mAs 부터 픽셀 평균값이 급격히 감소하여 대조도에 영향을 미치는 것으로 나타났다. 3 mAs 이상에서는 폐부분의 포화현상으로 대조도가 떨어졌다. Image J 프로그램을 이용한 분석결과 초점-격자 간과 두부팬텀의 중심의 위치변위가 커질수록 낮은 픽셀값의 빈도수가 증가하여 표면도의 윤곽형태가 사라져 대조도에 영향을 미치는 것으로 나타났다. 중환자의 특성상 환자 자세의 어려움, 움직임, 호흡 및 X선관의 변위, 촬영거리의 적용여부에 따라 영상화질을 변화시킬 수 있다는 사실을 방사선사는 정확히 인지하여 검사에 임해야 할 것으로 사료된다.

유해성 Cochlodinium polykrikoides 최초 발생에 관한 나로도 해역의 환경학적 특성 및 식물플랑크톤 군집 구조 (Environmental and Biological Effects at Narodo, in the Southern Water of Korea, on Bloom of Ichthyotoxic Dinoflagellates Cochlodinium polykrikoides)

  • 조은섭
    • 생명과학회지
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    • 제15권2호
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    • pp.225-230
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    • 2005
  • 유해성 적조생물 C. polykrikoides가 매년 발생되는 나로도와 반대로 전혀 최초발생이 되지 않는 부산해역을 정점으로 2001년 2월, 5월, 7월, 10월에 걸쳐 환경요인과 식물플랑크톤의 군집 동태를 조사했다. 수온은 7월에 최고 $20-22^{\circ}C$ 범위를 보였고, 염분도는 각 정점별 큰 차이는 없었으며, 최고 34 psu을 나타내었다. chlorophyll $\alpha$의 농도 범위는 $0.01-1.3\;{\mu}g\;1^{-1}$ 암모니아질소는 정점1에서 2월과 5월에 0.15, $0.19 {\mu}mol\;1^{-1}$ 정점2에서 최고 7월과 10월에 각각 $0.22-2.2\;{\mu}mol\;1^{-1}$ 보였다. 질산질소와 아질산질소도 암모니아성질소와 비슷한 변화 곡선을 나타내었다. 인산인은 정점 3, 4, 5에서 최고 $0.01-0.1\;{\mu}mol\;1^{-1}$ 범위를 나타내었다. 실험기간 동안 대부분 규조류가 우점으로 나타났고, 정점1에서 7월과 10월에 최고 30,000, $13{\times}10^3\;cells\;\;1^{-1}$을 보였고, 출현세포의 평균 폭은 정점3에서 최고 $178.11\;{\mu}m$, 세포 길이는 7월에 $337.72\;{\mu}m$였다. 나로도 해역이 부산에 비하여 C. polykrikoides 최초 적조발생의 원인은 아마도 외해로 유입되는 전선에 의해서 성장에 알맞은 환경여건을 만들어 줌과 아울러 다른 와편모조류의 세포형태나 출현 빈도에 영향을 미치는 것으로 보인다.

석탄회의 연용 및 잔효가 콩의 수량에 미치는 영향 (Effect of Successive Application and Residue of Fly Ash on Yield of Soybean [Glycine max (L) Merr.])

  • 홍순달;김재정
    • 한국토양비료학회지
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    • 제30권3호
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    • pp.248-256
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    • 1997
  • 콩에 대한 석탄회의 적정시용량 기준을 설정하기 위하여 91년부터 93년까지 3년동안 연용 및 잔효처리로 구분하여 시용수준을 0, 30, 60, 90 MT/ha 로 하여 검토한 결과를 요약하면 다음과 같다. 1. 석탄회의 시용은 무처리보다 콩의 생장을 양호하게 하였으나 90 MT/ha의 과량시용은 생육초기에 엽변이 갈변되고 괴사되는 붕소독증을 나타냈으며 특히 유연탄회에서 현저 하였다. 2. 1년차 시험에서 콩의 수량은 석탄회 30 MT/ha 수준에서 가장 높았으나 유의성이 인정되지 않았다. 2년차 시험에서 무연탄회 연용처리는 60 MT/ha, 잔효처리는 시용수준에 따라 증가되어 90 MT/ha 수준에서 최대 수량을 보였다. 유연탄회 연용 및 잔효처리는 60 MT/ha 수준에서 최대 수량을 보였으나 유의성이 인정되지 않았다. 3년차 시험에서 무연탄회 및 유연탄회 연용처리는 시용수준에 따라 감소되어 30 MT/ha 수준에서 최대 수량을 나타냈다. 무연탄회의 1년시용후 2년잔효처리는 90 MT/ha, 2년연용후 1년 잔효처리는 60 MT/ha 수준에서 최대 수량을 보였다. 유연탄회의 잔효처리에 의한 수량은 모두 시용수준에 따라 감소되어 30 MT/ha 수준에서 최대 수량을 나타냈다. 3. 3년차 시험의 수량과 석탄회 시용수준과의 회귀분석에서 무연탄회 연용처리는 54.2 MT/ha에서, 2년연용후 1년잔효처리는 59.2 MT/ha에서 최대수량을 보였으나, 1년 시용후 2년잔효처리는 시용수준에 따라 거의 직선적으로 증가되는 관계를 보였다. 유연탄회 연용 및 2년연용후 1년잔효처리는 50.5 MT/ha에서, 1년시용후 2년잔효처리는 52.9 MT/ha에서 최대수량을 보였다. 4. 60 MT/ha 이상의 석탄회 특히 유연탄회 시용은 붕소과잉에 의해 생육이 저해되므로 석탄회의 적정 시용량 평가는 수량과 함께 붕소과잉을 고려 하여야 할것으로 생각된다. 5. 석탄회 시용에 따른 토양 pH, 유효인산, 유효규산, 및 유효붕소 함량은 석탄회의 시용수준 및 연용회수가 증가할수록 직선적으로 증가 되었으며 증가폭은 무연탄회보다 유연탄회 시용에서 더 컸다. 6. 석탄회 시용에 따른 콩의 생장량 및 수량의 증가는 석탄회에 의한 양분들의 직접적 공급량 증대, 토양의 산도교정, 및 산도교정에 의한 양분 유효도 증가 효과로 해석되었다.

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병원중심 가정간호관리대상 범위 확대를 위한 기초연구(II) - 자동차보험가입 입원환자를 대상으로 - (A Preliminary Study for Expending of Hospital-Based Home Health Care Coverage - Focused on Car Accident Inpatients Who has the Compensation Insurance -)

  • 박은숙;이숙자;박영주;유호신
    • 가정∙방문간호학회지
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    • 제7권1호
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    • pp.58-72
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    • 2000
  • This study was an attempt to encourage the development of a rehabilitation delivery system and programs as a substitute service for hospitalization on the case of car accident patients, such as hospital based home health care nursing services. Various substitute services for hospitalization are required to curtail the length of stay for inpatients who were hospitalized with car accident compensation insurance. It focused on developing an estimation an early discharge day for car accident inpatients based on detailed statements of treatment for 111 inpatients who were hospitalized at the General Hospital in 1997. This study had four specific purposes as follows. First. to find out the utilization of medical services. Second, to estimate the time of early discharge and income increasing effect based on early discharge for those patients. Third, to identify the factors affecting total medical expenditure and the length of stay for those inpatients. Forth, to figure out the need of utilizing home health care nursing service for accident patients. In order to analyze the length of stay and medical expenditure for inpatients who were hospitalized due to car accidents, the authors conducted micro- and macro-analysis of medical and medical expenditure records. Micro-analysis was done by nominal group discussion of 4 expertise with the critical criteria, such as a decrease in the amount of treatment after surgery, treatments, tests, drugs and changes in the test consistency, drug methods, vital signs, start of ROM exercise, doctor's order, patient's outside visiting ability, and stable conditions. In addition to identifying variables affecting medical expenditure, and the length of stay and income effect due to early discharge day, the data was analyzed with a multiple regression analysis and linear regression analysis model by SPSS-PC for windows and Excell program. Results of this study were as follows. First. the mean length of stay was 50.3 days. whereas the mean length of stay due to early discharge was 34.3 days at the hospital. The estimation of time of early discharge depended on the length of stay. The longer the length of stay, the longer the length of time of early discharge : for instance a length of stay under 10 days was estimated as correlating to a mean length of stay of 6.6 days and early discharge of 6.5. The mean length of stay was 217.4 days and the time of early discharge was 110.1 respectively. The mean medical expenditure per day was found to be 169.085 Won and the mean medical expenditure per day showed negative linear trends according to the length of stay at the hospital. The estimation results of the income effect due to being discharged 16 days early was around 2,244,000 won per bed. However. this sum does not represent the real benefits resulting from early discharge, but rather the income increasing amount without considering medical prime cost in the general hospital. Therefore, further analysis is required on the cost containments and benefits as turn over rate per bed as the medical prime costs. The length of stay was most significant and was positive to the total medical expenditure, as expected. Surgery and patient's residential area was also an important variable in explaining medical expenditure. The level of complications was the most significant variable in explaining the length of stay. There was a high level for need a home health care nursing service which further supports early discharge for accident patients. In addition, when the patient was discharged. they needed follow up care for complications suffered during the car accident. $86.8\%$ of discharged patients responded that they needed home health services after early discharge. From these research findings, the following suggestions have been drawn. Strategies on a health care delivery system must be developed in order to focus on the consumer's needs and being planned for 21 century health policy in Korea. Community based intermediate facilities or home health care should be developed for rehabilitation services as a substitute for hospitalization in order to shorten the length of stay would be. A hospital based home health care nursing service. it would be available immediately to utilize by patients who want rehabilitation services as a substitute for hospitalization with the cooperation of car insurance companies.

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성견 하악 골체부 신장시 신장부위의 증식세포핵항원과 제 1형 교원질 발현에 관한 연구 (EXPRESSION OF PROLIFERATING CELL NUCLEAR ANTIGEN AND TYPE I COLLAGEN IN THE ELONGATED BONE IN THE MANDIBLE OF ADULT MONGREL DOGS)

  • 임순모;안병근;박영주;박희건;박준우;이건주;이용찬;조병욱
    • Journal of the Korean Association of Oral and Maxillofacial Surgeons
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    • 제27권5호
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    • pp.385-396
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    • 2001
  • The purpose of this experiment was to examine the histological changes and the pattern of expression of proliferating cell nuclear antigen(PCNA) and type I collagen in the elongated bone affected by osteodistraction of the mandibular body in an adult canine model. Seven adult male mongrel dogs weighing over 20kg were used for this experiment. The author excluded 3 animals because they died before the planned time of sacrifice. The custom-made linear extraoral device and 4 bicortical fixation screws 2.3mm in diameter, 50mm in total length, 15mm in screw length were used in each animal. The distal part of the distractor produced a 0.75mm gap between proximal and distal bony segments every $360^{\circ}$ turn of the rotation rod of the device. The mandibular body of the right side from each animal was experimental side and the left side was left intact and served as control. At the experimental side, the mandibular body was osteotomized. After 5-day latency period, the segments were distracted with a rate of 1.1mm/day and a rhythm of two/day for ensuing 7 days. The animals were sacrificed at the 4th. 17th, and 32th day after the end of the distraction. The bony specimens were decalcified, embedded in paraffin, sectioned $5{\mu}m$ thick and stained with Masson trichrome and examined under the light microscope. The immunohistochemical examinations using anti-PCNA antibody and anti-type-I collagen antibody were performed to examine the pattern of the expression of PCNA and type I collagen, respectively. Results : 1. The mean increment of the distance between the proximal and distal screw-holding parts of the distractor was 6.8mm. The average elongation of the mandible in the experimental side was 5.3mm. The loss of elongation was 1.5mm in average. 2. New bone was already observed at the 4th. day after the end of distraction. But, bony union was not completed in the distraction gap at the 32th. day after the end of distraction by radiographic and microscopic examinations. 3. The expression rate of PCNA positive cells in the distraction gap had a tendency of decrease from 35.1-68.8% initially, to 49.1%, and finally to 17.6-27.2%. But at the final period, the tissue of the elongated gap still had the ability of cell proliferation. On the other hand, the expression of PCNA positive cells in the control side were negligible through the experimental period. 4. PCNA positive cells were observed primarily both at the central fibrous zone and at the region of just adjacent to CFZ which initiated new bone formation. 5. The expression pattern of the type I collagen was not zone-specific. They were observed diffusely throughout the elongation gap. 6. The predominant mechanism of new bone formation in the distraction gap was intramembranous. But, some of the regenerated bone was formed by endochondral ossification.

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성견 하악골 절단 후 기계적 골 견인에 의해 형성된 골 신장부에 대한 시기별 조직학적 변화 (HISTOLOGICAL CHANGES IN THE ELONGATED BONE AFFECTED BY OSTEODISTRACTION OF THE MANDIBLE IN THE DOG)

  • 백선호;안병근;박영주;박희건;박준우;이건주;이용찬;조병욱
    • Journal of the Korean Association of Oral and Maxillofacial Surgeons
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    • 제27권5호
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    • pp.404-416
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    • 2001
  • Purpose : Traditionally, the treatement of choice has been a bone grafting procedure to increase the length of bone in case of actual length discrepancy. But, bone grafting procedure has many disadvantages, for example, graft resorption, donor site morbidity, and so on. So, many trials have been performed to avert the use of autogenous bone graft via introducing new materials or methods. And, one of those trials has been realized by the development of a technique inducing bone lengthening by osteotomy (or corticotomy) and slow gradual distraction of the osteotomized segments. This new technique of bone lengthening dates back to the early 20th century. But, the majority of information concerning the biology of new bone formation during bone lengthening and technical details of the procedure were produced by extensive clinical and experimental studies performed by Ilizarov, a Russian surgeon. According to Ilizarov, with adequate blood supply, preservation of periosteum, rigid fixation of the osteotomized segments, and proper rate and rhythm of distraction, intramembranous bone rapidly develops within the distraction gap in the limb lengthening procedure. In the limb lengthening, many orthopedic surgeons try to observe the biologic and clinical principles recommended by Ilizarov. In the oral and maxillofacial region, however, not a few studies must be performed to apply this surgical technique in the clinical cases. Besides, the mechanism of bone formation in the distraction gap is not clear, yet. The purpose of this experiment was to scrutinize serially the histological changes in the elongated bone affected by osteodistraction of the mandibular body in an adult canine model. In addition, it was performed to confirm the presence of specific region(s) which was important in the bone formation in the gap through the observation of the expression pattern of osteocalcin and osteonectin with the immunohistochemical examination. Materials and Methods : The experimental and control specimens were obtained from seven adult male mongrel dogs weighing over 20kg. The distractors were custom-made linear extraoral devices and bicortical fixation screws were 2.3mm in diameter, 50mm in total length, 15mm in screw length. The distractors were devised to produce a linear gap of 0.75mm between two bony segments every $360^{\circ}$ turn of the rotation rod of the device. The mandibular body of the right side of each animal was corticotomized perpendicular to the occlusal plane and then two bony segments were separated completely by careful manipulation of the segments with bone forceps. The left side of each animal was left intact. This side was served as control. At sixth day after osteotomy and fixation of the segments were performed, distraction of the segments was commenced with a rate of 1.1mm/day and a rhythm of two/day for ensuing 7 days. The animals were euthanized at the 16th. 29th, and 44th day after the osteotomy. The bony specimens were decalcified, embedded in paraffin, sectioned $5{\mu}m$ thick and stained with H&E. The prepared specimens were examined under the light microscope. And, immunohistochemical examinations using anti-osteocalcin antibody (OC1, Biodesign, USA) and anti-osteonectin antibody (Haematologic Technologies Inc., Essex, VT) to locate the expressions of osteocalcin and osteonectin, respectively, were performed. Results : 1. New bone was observed already at the 16th. day after osteotomy. This suggests that new bone formation in osteodistraction was commenced at an early stage of the regenerative process. But, radiologically and microscopically, bony union was not completed in the distraction gap at the 44th. day after osteotomy. Therefore, rigid fixation must be maintained between the bony fragments till the complete bony union is confirmed clinically rather than one month or so after the completion of distraction.

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독도 심해토 메타게놈 유래 신규 내열성 에스테라아제의 생화학적 특성규명 (Biochemical Characterization of a Novel Thermostable Esterase from the Metagenome of Dokdo Islets Marine Sediment)

  • 이창묵;서소현;김수연;송재은;심준수;한범수;김동헌;윤상홍
    • 한국미생물·생명공학회지
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    • 제45권1호
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    • pp.63-70
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    • 2017
  • 독도 해저 2,000 미터 퇴적토를 이용한 메타게놈 유전자 은행의 60,672 클론을 기름 성분 tributyrin이 첨가된 배지에서 스크리닝 하였다. 활성을 가진 클론에서 EstES1 유전자를 선발하였다. EstES1은 553개 아미노산으로 구성된 분자량 59.4 kDa 단백질로, 가장 높은 유사성은 Haliangium ochraceum의 carboxylesterase와 44%이었다. EstES1 서열 내부에는 carboxylesterase의 전형적인 penta-peptide motif, catalytic triad 및 N-terminal 부위 37개의 leader sequence가 존재했다. 서열기반 계통분석 결과, EstES1은 신규한 esterase 임을 보여주었다. EstES1 효소의 leader 서열을 제거한 재조합 수용성 RLES1 효소는 탄소 2-12까지 포함된 long acyl ethyl ester 기질을 모두 이용할 수 있지만, p-Nitrophenyl butyrate (C4)에 가장 높은 활성과 turn-over 값을 보였다. 최적 활성은 $45^{\circ}C$, pH 9.0이다(specific activity 255.4 U/mg). 또한 강알칼리 상태인 pH 10.5까지 80% 이상의 활성이 유지되었다. EstES1의 활성은 $60^{\circ}C$에서 내열성을 보여, 1시간 동안 활성을 100% 유지할 수 있다. 효소 활성은 여러 종류의 유기용매 하에서도 안정하게 유지되었다. 따라서, EstES1은 배양이 불가능한 난배양 미생물로부터 유래된 신종 효소 유전자로서, 고온의 지방산 가수분해, 알칼리 상태나유기용매가 존재하는 여러 공정분야에 활용될 수 있다.

불리(不利)한 환경(環境)의 학령전(學齡前) 아동(兒童)을 위한 보상교육(補償敎育)에 관(關)한 연구(硏究) - 미국(美國) 및 일본(日本)의 보상교육(補償敎育)·프로그램을 중심(中心)으로 - (A Study on the Compensatory Education for the Disadvantaged Children in Preschool Age (Focussed on the Programs of Compensatory Education in the U.S.A. and Japan))

  • 정영숙;이희자
    • 아동학회지
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    • 제1권
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    • pp.65-81
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    • 1980
  • This study is aimed at investigating the compensatory education which was already implemented or is being implemented in the U.S.A. and Japan; and at studying the types of programs and their characteristics; and at sounding out the possibilities of the application of such programs in family and social conditions is Korea. In order to achieve the above mentioned objectives, the established items for the study are as follows: (1) Various types of early children's education (2) Programs of compensatory education for the disadvantaged Children (3) Head Start Program, Early Training Project and Montessori School (4) Integrated Preschool Programs (5) Day-Care Center for employed mothers We investigated the various compensatory education programs for the preschool children who are in economically, socially, culturally disadvantaged conditions. Head Start Programs were federally supported programs for preschool children and opened as summer programs in 1965 for the first time. The purpose of Head Start has been to give preschool children the kinds of experiences they need in preparation for school. The Head Start children were found to be significantly better prepared for school than the normal children. However, after six to eight months, their initial advantages had virtually. disappeared and then the simple problem with Head Start and other such programs was that little long-term good could be evidenced unless the high quality educational environment was maintained. Therefore, to solve this problem, three other programs were funded as part of the overall Head Start. These three programs are the Parent-Child Center, Home Start, and the Child and Family Resources Program. The Early Training Project for disadvantaged children was implemented by Klaus and Gray of Peabody College in 1962. The program was a field research study concerned with the development and testing over time of procedures for improving the educability of young children from low income homes. Its major concern was to study whether it was possible to offset the progressive retardation observed in the public schooling careers of children, living in deprived circumstances. Children, who were trained through the Early Training Project were superior to control groups in the test of IQ and vocabulary as well as linguistic abilities, and preparation for reading. This project showed the possibilities which could prevent preschool children from being disadvantaged socially, culturally and mentally. In 1907, Montessori School was established by Maria Montessori in Italy and her school program has been introduced at present to several countries in the world as one compensatory educations. She first began her experimental methods with retarded children, followed by disadvantaged children from the tenements of Rome. The Montessori approach futures a prepared environment and carefully designed, self-correcting materials. The Montessori curriculum presents tastes that feature sequence, order, and regularity, in addition to those that develop motor and sensory skills. She was interested in children's intellectual development and in developing good work habits. One of the latest developed programs for disadvantaged children is "Integrated Preschool Program" which has successfully integrated handicapped and nonhandicapped children. Several studies have showed that handicapped children in integrated school environments are accepted by and interact with their nonhandicapped peers. In fact, this program provides a number of potential, and perhaps opportunities for nonhandicapped children to serve as valuable resources in fostering the development of their handicapped peers. Next we turn to Japanese programs which are divided into two different types. One is Day-Care Center which was established by Child Welfare Law and the other is kindergarten organized by School Education Law. The kindergarten opened in 1876 and it has been part of school systems since 1947 by the implementation of education law, and the Day-Care Center which started in 1890 for the employed mothers. was changed into Day-Nursery by the enactment of child welfare law in 1947. The laws and operational regulations for the Day-Nursery were set up and were put in effect by the establishment standard acts of children welfare facilities, and the Day-Nursery has been operated in various types by the increasing demand, chiefly because of the socio-economical changes of family structures in both urban and suburban areas. Nursery education for physically and mentally disadvantaged children is for those who are blind, deaf and dumb, mentally retarded; physically disadvantaged by accidents or diseases. Montessori education in Japan was started in 1968 and many research groups for studying Montessori were organized. In 1977, Montessori remedial education society was also organized in which they started a number of studies; a study for developing materials; in-service training for the remedial education; and seminars and lectures, etc It is strongly suggested that we study the early educations that are being implemented in Japan and a variety of compensatory educations that were already implemented in the U.S.A. and modify them for the organization of our own model and properly accommodate them to our social needs.

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WHICH INFORMATION MOVES PRICES: EVIDENCE FROM DAYS WITH DIVIDEND AND EARNINGS ANNOUNCEMENTS AND INSIDER TRADING

  • Kim, Chan-Wung;Lee, Jae-Ha
    • 재무관리논총
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    • 제3권1호
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    • pp.233-265
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    • 1996
  • We examine the impact of public and private information on price movements using the thirty DJIA stocks and twenty-one NASDAQ stocks. We find that the standard deviation of daily returns on information days (dividend announcement, earnings announcement, insider purchase, or insider sale) is much higher than on no-information days. Both public information matters at the NYSE, probably due to masked identification of insiders. Earnings announcement has the greatest impact for both DJIA and NASDAQ stocks, and there is some evidence of positive impact of insider asle on return volatility of NASDAQ stocks. There has been considerable debate, e.g., French and Roll (1986), over whether market volatility is due to public information or private information-the latter gathered through costly search and only revealed through trading. Public information is composed of (1) marketwide public information such as regularly scheduled federal economic announcements (e.g., employment, GNP, leading indicators) and (2) company-specific public information such as dividend and earnings announcements. Policy makers and corporate insiders have a better access to marketwide private information (e.g., a new monetary policy decision made in the Federal Reserve Board meeting) and company-specific private information, respectively, compated to the general public. Ederington and Lee (1993) show that marketwide public information accounts for most of the observed volatility patterns in interest rate and foreign exchange futures markets. Company-specific public information is explored by Patell and Wolfson (1984) and Jennings and Starks (1985). They show that dividend and earnings announcements induce higher than normal volatility in equity prices. Kyle (1985), Admati and Pfleiderer (1988), Barclay, Litzenberger and Warner (1990), Foster and Viswanathan (1990), Back (1992), and Barclay and Warner (1993) show that the private information help by informed traders and revealed through trading influences market volatility. Cornell and Sirri (1992)' and Meulbroek (1992) investigate the actual insider trading activities in a tender offer case and the prosecuted illegal trading cased, respectively. This paper examines the aggregate and individual impact of marketwide information, company-specific public information, and company-specific private information on equity prices. Specifically, we use the thirty common stocks in the Dow Jones Industrial Average (DJIA) and twenty one National Association of Securities Dealers Automated Quotations (NASDAQ) common stocks to examine how their prices react to information. Marketwide information (public and private) is estimated by the movement in the Standard and Poors (S & P) 500 Index price for the DJIA stocks and the movement in the NASDAQ Composite Index price for the NASDAQ stocks. Divedend and earnings announcements are used as a subset of company-specific public information. The trading activity of corporate insiders (major corporate officers, members of the board of directors, and owners of at least 10 percent of any equity class) with an access to private information can be cannot legally trade on private information. Therefore, most insider transactions are not necessarily based on private information. Nevertheless, we hypothesize that market participants observe how insiders trade in order to infer any information that they cannot possess because insiders tend to buy (sell) when they have good (bad) information about their company. For example, Damodaran and Liu (1993) show that insiders of real estate investment trusts buy (sell) after they receive favorable (unfavorable) appraisal news before the information in these appraisals is released to the public. Price discovery in a competitive multiple-dealership market (NASDAQ) would be different from that in a monopolistic specialist system (NYSE). Consequently, we hypothesize that NASDAQ stocks are affected more by private information (or more precisely, insider trading) than the DJIA stocks. In the next section, we describe our choices of the fifty-one stocks and the public and private information set. We also discuss institutional differences between the NYSE and the NASDAQ market. In Section II, we examine the implications of public and private information for the volatility of daily returns of each stock. In Section III, we turn to the question of the relative importance of individual elements of our information set. Further analysis of the five DJIA stocks and the four NASDAQ stocks that are most sensitive to earnings announcements is given in Section IV, and our results are summarized in Section V.

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