• Title/Summary/Keyword: co-movement

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Audit Quality and Stock Return Co-Movement: Evidence from Vietnam

  • PHAM, Chi Bich Thi;VU, Thu Minh Thi;NGUYEN, Linh Ha;NGUYEN, Dung Duc
    • The Journal of Asian Finance, Economics and Business
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    • v.7 no.7
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    • pp.139-147
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    • 2020
  • This paper aims to explore the relationship between the quality of the audit and the level of stock return co-movement in the context of the Vietnamese emerging market. The empirical study is designed based on the quatitative method and deductive approach. The panel dataset includes 256 listed firms from different industries,with 1115 firm-year observations on Ho Chi Minh City Stock Exchange for the period from 2014 to 2018. In the research, we built the econometric regression model, using stock return synchronicity and audit quality as the dependent and independent variable, respectively. Some control variables are also added to the econometric regression models as they are well-documented in prior research to have an effect on stock price synchronicity. To improve the accuracy of the regression coefficients, beside the Ordinary Least Squares, we employ the Random Effects Model and the Fixed Effects Model for better statistical analysis of panel data set. The results show that the quality of the audit is positively correlated to stock price synchronicity. This finding suggests that stock returns of companies with higher quality of the audit are more synchronous with the market. Results for other control variables also support our reasoning for the main findings.

Testing on the Efficiency of Korean FX Market Implemented by USD, JPY, GBP, and EURO (한국의 외환시장 효율성 검정 - 미국, 일본, 영국, 및 유로지역과의 비교를 중심으로 -)

  • Rhee, Hyun-Jae
    • International Area Studies Review
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    • v.13 no.1
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    • pp.103-122
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    • 2009
  • The paper is basically designed to investigate any existence of co-movement among foreign exchange market, goods market, and monetary market implemented by relative PPP and interest rate parity. And, rational expectation and GARCH-M model are employed for an empirical application. The result revealed that since the co-movement among the markets is hardly found, an efficiency of foreign exchange market is independent from any shocks from the goods market and the monetary market. Whereas, the exchange rate is strongly effected by a real interest rate parity. To this end, the real interest rate should be a key policy instrument to stabilize the foreign exchange market.

A Numerical Study of Smoke Movement with Radiation in Atrium Fires (아트리움에서 화재 발생시 복사가 고려된 연기거동에 대한 수치해석 연구)

  • 정진용;유홍선;홍기배
    • Fire Science and Engineering
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    • v.15 no.1
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    • pp.7-15
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    • 2001
  • This paper describes the smoke filling process of a fire field model based on a self-developed SMEP (Smoke Movement Estimating Program) codo to the simulation of fire induced flows in the atrium space (SIVANS atrium at Japan) containing smoke radiation effect. The SMEP using PISO algorithm solves conservation equations for mass, momentum, energy and species, together with those for the modified k-$\varepsilon$ turbulence model with buoyancy term. Also it solves the radiation equation using the discrete ordinates method. The result of the calculated smoke temperature containing radiation effect has shown a better prediction than the result calculated by only convection effect in comparison with the experimental data. This seems to come from the radiation effect of $H_2$O and $CO_2$ gas under smoke productions. Thus, the consideration of the radiation effect under smoke in fire should be necessary in order to get more realistic result. Also the numerical results indicated that the smoke layer is developing at a rate of about 0.1 m/s. It would take about 450 seconds after starting the ultra fast fire of 560 kW that the smoke layer move down to 1.5m above the escape level.

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A Study on Air Pollution and Thermal Factors in Underground Shopping Center of Pusan Area (부산시내 지하생활권의 공기오염도와 온열인자에 관한 조사연구)

  • Choi, Sung-Yong;Moon, Deog-Hwan;Lee, Jong-Tae;Song, In-Hyuk;Lee, Cha-Eun;Lee, Sung-Min
    • Journal of Preventive Medicine and Public Health
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    • v.27 no.3 s.47
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    • pp.505-516
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    • 1994
  • For the purpose of preparing the fundamental data on air pollution in underground shopping center and also contributing to the health improvement of residents, the authors measured the level of $SO_2,\;NO_2,\;TSP,\;CO,\;CO_2$ and also some related factors as air temperature, air movement, relative humidity and mean radiation temperature at inside and outside of underground shopping center in Pusan from January to February and from July to August 1994. The results were as follows : 1. The mean concentration of CO within the underground shopping center was $3.1{\pm}1.3ppm$ in winter and $2.1{\pm}0.9ppm$ in summer. There was a negative correlation (p<0.01) between inner CO concentration and temperature in summer and no correlation between inner CO concentration and outer CO concentration in underground shopping center 2. The mean concentration of COE within the underground shopping center was $876{\pm}353ppm$ in winter and $757{\pm}125ppm$ in summer. There was a negative correlation (p<0.01) between inner $CO_2$ concentration and air movement in summer and positive correlation (p<0.05) between inner $CO_2$ concentration and outer $CO_2$ concentration in underground shopping center. 3. The mean concentration of $SO_2$ within a underground shopping center was $0.036{\pm}0.019ppm$ in winter and $0.040{\pm}0.013ppm$ in summer. There was a positive correlation(p<0.01) between inner $SO_2$ concentration and temperature in summer and positive correlation between inner $SO_2$ concentration and outer $SO_2$ concentration in summer and winter in underground shopping center. 4. The mean concentration of $NO_2$ within a underground shopping center was $0.052{\pm}0.038ppm$ in winter and $0.042{\pm}0.016ppm$ in summer. There was a no correlation between inner $SO_2$ concentration and thermal factors in summer and winter and low correlation between inner $SO_2$ concentration and outer $SO_2$ concentration in underground shopping center 5. The mean concentration of TSP within a underground shopping center was $430{\pm}214{\mu}g/m^3$ in winter, $366{\pm}73{\mu}g/m^3$ in summer, and very in excess of the atmospheric environmental quality standards of Korea ($150{\mu}g/m3{\downarrow}$). There was low correlation between inner TSP concentration and temperature in summer and high correlation between inner TSP concentration and outer TSP concentration in underground shopping center.

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Enhanced magnetic properties of FeCo alloys by engineering crystallinity and composition (FeCo의 결정성 및 조성 제어를 통한 자기 특성 향상)

  • Kim, Dan-Bi;Kim, Ji-Won;Eom, Nu-Si-A;Park, Seong-Heum;Im, Jae-Hong
    • Proceedings of the Korean Institute of Surface Engineering Conference
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    • 2018.06a
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    • pp.32.1-32.1
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    • 2018
  • Novel soft magnetic materials can be achieved by altering material properties such as morphology, composition, crystallinity, and grain size of soft magnetic alloys. Especially, magnetic properties (i.e., saturation magnetization, coarcivity) of soft magnetics are significantly affected by grain boundaries which act as a control of magnetic domain wall movement. Thus, we herein develop a two-step electroless plating method to control morphology and grain size of FeCo films for excellent magnetic properties. Accordingly, the chemical composition to control the degree of polarization of FeCo alloys was altered by electroless deposition parameters; for example, electrolyte concentration and temperature. The grain size and crystallinity of FeCo alloys was dramatically affected by the reaction temperature because the grain growth mechanism dominantly occurs at $90^{\circ}C$ where as the neucleation only happens at $50^{\circ}C$. By simply controlling the temperature, the micron-sized FeCo grains embedded FeCo film was synthesized where the large grains allow high magnetization originated from larger magnetic domain with low corecivity and the nano-sized grains allow excellent soft magnetic properties due to the magnetic correlation length.

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Preparation and Electrochemical Behaviors of Petal-like Nickel Cobaltite/Reduced Graphene Oxide Composites for Supercapacitor Electrodes

  • Kim, Jeonghyun;Park, Soo-Jin;Kim, Seok
    • Applied Chemistry for Engineering
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    • v.30 no.3
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    • pp.324-330
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    • 2019
  • Petal-like nickel cobaltite ($NiCo_2O_4$)/reduced graphene oxide (rGO) composites with different $rGO-to-NiCo_2O_4$ weight ratios were synthesized using a simple hydrothermal method and subsequent thermal treatment. In the $NiCo_2O_4/rGO$ composite, the $NiCo_2O_4$ 3-dimensional nanomaterials contributed to the improvement of electrochemical properties of the final composite material by preventing the restacking of the rGO sheet and securing ion movement passages. The composite structure was examined by field-emission scanning electron microscopy (FE-SEM), transmission electron microscopy (TEM), and Fourier-transform infrared (FT-IR) spectroscopy. The FE-SEM and TEM images showed that petal-like $NiCo_2O_4$ was supported on the rGO surface. Cyclic voltammetry (CV), galvanostatic charge-discharge (GCD), and electrochemical impedance spectroscopy (EIS) were used for the electrochemical analysis of composites. Among the prepared composites, $0.075g\;rGO/NiCo_2O_4$ composite showed the highest specific capacitance of $1,755Fg^{-1}$ at a current density of $2Ag^{-1}$. The cycle performance and rate capability of the composite material were higher than those of using the single $NiCo_2O_4$ material. These nano-structured composites could be regarded as valuable electrode materials for supercapacitors that require superior performance.

A Study of the Chewing Patterns in Patients with Temporomandibular Disorders by Electrognathography (Electrognathography를 이용한 측두하악장애환자의 저작양태에 관한 연구)

  • Moon-Gyu Kim;Kyung-Soo Han
    • Journal of Oral Medicine and Pain
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    • v.20 no.2
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    • pp.291-306
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    • 1995
  • Mandibular movement is composed of border movement and functional movement. Border movement such as maximal mouth opening, hinge opening ad lateral eccentric movement has good reproducibility, but functional movement such as chewing, swallowing and speech has also reproducibility. Especially for chewing movement, individual reproducibility has been confirmed by many studies. Study of chewing pattern is still in controversy. In new approach for raising the diagnostic value, numeric parameters and morphologic characteristics could be used for evaluation of chewing pattern. This study was performed to investigate the differences between chewing pattern in controls and in patients with temporomandibular disorders. Sixty-three patients with temporomandibular disorders participated in this study, and they were divided into unilaterally affected subjects or bilaterally affected subjects. Then unilaterally affected subjects were classified into closed lock group, disk displacement with reduction group, and degenerative joint disease group. For recording of chewing pattern, subjects were asked to chew one piece of presoftened chewing gum on both sides, and the chewing movement was recorded with the Electrognatho- Graphy(Bio-Research Associates Inc., U.S.A.). Tooth contact pattern for occlusal stability (Total left-right statistics )was also recorded with T-Scan(Tekscan Co., U.S.A.). The dta related to chewing pattern and total left-right statistics were statistically analyzed by SAS/stat program. The obtained results were as follows : 1. In patient group, mean value of A-P distance and the ratio of A-P distance to vertical distance were larger than control group, but the value of lateral distance in affected side and the closing velocity in unaffected side were smaller than that of control group, respectively. 2. In case of unilateral affected patients, chewing pattern of other side had tendency to restricted movement and slow velocity in closed lock group or degenerative joint disease group than control group or disk displacement with reduction group. 3. In bilateral degenerative joint disease patients, contralateral side had tendency to large range of motion and slow chewing velocity than preferred chewing side. 4. The patients with restricted mouth opening below than 35mm had higher value of total left-right statistics than patient group mouth opening above 35mm. Also closed lock group had higher total left-right statistics than disk displacement with reduction group, degenerative joint disease group and control group. 5. There was some difference in morphologic characteristics of chewing pattern between in control group and in affected side of unilateral patient group, but no difference between control group and unaffected side of unilateral patient group. 6. There were positive correlations between vertical distance and A-P distance, between vertical distance and chewing velocity, between A-P distance and chewing velocity, and between opening velocity and closing velocity in unilateral affected patients.

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A study on the honeycomb entry and exit counting system for measuring the amount of movement of honeybees inside the beehive (벌통 내부 꿀벌 이동량 측정을 위한 벌집 입·출입 계수 시스템 연구)

  • Kim, Joon Ho;Seo, Hee;Han, Wook;Chung, Wonki
    • The Journal of the Convergence on Culture Technology
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    • v.7 no.4
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    • pp.857-862
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    • 2021
  • Recently, rapid climate change has had a significant impact on the bee ecosystem. The decrease in the number of bees and the change in the flowering period have a huge impact on the harvesting of beekeepers. Accordingly, attention is focused on smart beekeeping, which introduces IoT technology to beekeeping. According to the characteristics of beekeeping, it is impossible to continuously observe the beehive in the hive with the naked eye, and the condition of the hive is mostly dependent on knowledge from experience. Although a system that can measure partly through sensors such as temperature/humidity change inside the hive and measurement of the amount of CO2 is applied, there is no research on measuring the movement path and amount of movement of bees inside the beehive. Part of the migration of honeybees inside the hive can provide basic information to predict the most important cleavage time in beekeeping. In this study, we propose a device that detects the movement path of bees and measures and records data entering and exiting the hive in real time. The device proposed in this study was developed according to the honeycomb standard of the existing beehive so that beekeeping farms could use it. The development method used a photodetector that can detect the movement of bees to configure 16 movement paths and to detect the movement of bees in real time. If the measured honeybee movement status is utilized, the problem of directly observing the colony with the naked eye in order not to miss the swarming time can be solved.

Studies of vision monitoring system using a background separation algorithm during radiotherapy (방사선 치료시 배경분리알고리즘을 이용한 비젼모니터링 시스템에 대한 연구)

  • Park, Kiyong;Choi, Jaehyun;Park, Jeawon
    • Journal of the Korea Institute of Information and Communication Engineering
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    • v.20 no.2
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    • pp.359-366
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    • 2016
  • The normal tissue in radiation therapy, to minimize radiation, it is most important to maximize local tumor control rates in intensive research the exact dose to the tumor sites. Therefore, the initial, therapist accuracy of detecting movement of the patient fatigue therapist has been a problem that is weighted down directly. Also, by using a web camera, a difference value between the image to be updated to the reference image is calculated, if the result exceeds the reference value, using the system for determining the motion has occurred. However, this system, it is not possible to quantitatively analyze the movement of the patient, the background is changed when moving the treatment bed in the co-therapeutic device was not able to sift the patient. In this paper, using a alpah(${\alpha}$) filter index is an attempt to solve these limitations points, quantifies the movement of the patient, by separating a background image of the patient and treatment environment, and movement of the patient during treatment It senses only, it was possible to reduce the problems due to patient movement.

Selection of mother wavelet for bivariate wavelet analysis (이변량 웨이블릿 분석을 위한 모 웨이블릿 선정)

  • Lee, Jinwook;Lee, Hyunwook;Yoo, Chulsang
    • Journal of Korea Water Resources Association
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    • v.52 no.11
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    • pp.905-916
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    • 2019
  • This study explores the effect of mother wavelet in the bivariate wavelet analysis. A total of four mother wavelets (Bump, Mexican hat, Morlet, and Paul) which are frequently used in the related studies is selected. These mother wavelets are applied to several bivariate time series like white noise and sine curves with different periods, whose results are then compared and evaluated. Additionally, two real time series such as the arctic oscillation index (AOI) and the southern oscillation index (SOI) are analyzed to check if the results in the analysis of generated time series are consistent with those in the analysis of real time series. The results are summarized as follows. First, the Bump and Morlet mother wavelets are found to provide well-matched results with the theoretical predictions. On the other hand, the Mexican hat and Paul mother wavelets show rather short-periodic and long-periodic fluctuations, respectively. Second, the Mexican hat and Paul mother wavelets show rather high scale intervention, but rather small in the application of the Bump and Morlet mother wavelets. The so-called co-movement can be well detected in the application of Morlet and Paul mother wavelets. Especially, the Morlet mother wavelet clearly shows this characteristic. Based on these findings, it can be concluded that the Morlet mother wavelet can be a soft option in the bivariate wavelet analysis. Finally, the bivariate wavelet analysis of AOI and SOI data shows that their periodic components of about 2-4 years co-move regularly every about 20 years.