• Title/Summary/Keyword: exchange option

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Living Related Liver Transplantation in an Infant with Neonatal Hemochromatosis

  • Choi, Shin Jie;Choi, Jong Sub;Chun, Peter;Yoo, Jung Kyung;Moon, Jin Soo;Ko, Jae Sung;Kim, Woo Sun;Kang, Gyeong Hoon;Yi, Nam-Joon
    • Pediatric Gastroenterology, Hepatology & Nutrition
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    • v.19 no.2
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    • pp.147-151
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    • 2016
  • Neonatal hemochromatosis (NH) is a severe neonatal liver injury that is confirmed by extra-hepatic iron accumulation. Although a recent study described treating NH with exchange transfusions and intravenous immunoglobulin, liver transplantation should be considered for patients with severe liver failure that does not respond to other medical treatment. Herein, we report the case of a two-month-old female infant who presented with persistent ascites and hyperbilirubinemia. Her laboratory findings demonstrated severe coagulopathy, high indirect and direct bilirubin levels, and high ferritin levels. Abdominal magnetic resonance imaging presented low signal intensity in the liver on T2-weighted images, suggesting iron deposition. The infant was diagnosed with NH as a result of the clinical findings and after congenital infection and metabolic diseases were excluded. The infant was successfully treated with a living-donor liver transplantation. Living related liver transplantation should be considered as a treatment option for NH in infants.

The Predictive Power of Implied Volatility of Portfolio Return in Korean Stock Market (한국주식시장 내재변동성의 포트폴리오 수익률 예측능력에 관한 연구)

  • Yoo, Shi-Yong;Kim, Doo-Yong
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.12 no.12
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    • pp.5671-5676
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    • 2011
  • Volatility Index is the index that represents future volatility of underlying asset implied in option price and expected value of market that measures the possibility of stock price's change expected by investors. The Korea Exchange announces a volatility Index, VKOSPI, since April, 13, 2009. This paper used daily data from January, 2002 through December, 2008 and tested power of Volatility index for future returns of portfolios sorted by size, book-to-market equity and beta. As a result, VKOSPI has the predictive power to future returns and then VKOSPI may be determinants of returns. Also if beta is included when sorting portfolio, the predictive power of VKOSPI is stronger for future portfolio returns.

Sensitivity Analysis of Near Surface Air Temperature to Land Cover Change and Urban Parameterization Scheme Using Unified Model (통합모델을 이용한 토지피복변화와 도시 모수화 방안에 따른 지상 기온 모의성능 민감도 분석)

  • Hong, Seon-Ok;Byon, Jae-Young;Park, HyangSuk;Lee, Young-Gon;Kim, Baek-Jo;Ha, Jong-Chul
    • Atmosphere
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    • v.28 no.4
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    • pp.427-441
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    • 2018
  • This study examines the impact of the urban parameterization scheme and the land cover change on simulated near surface temperature using Unified Model (UM) over the Seoul metropolitan area. We perform four simulations by varying the land cover and the urban parameterization scheme, and then compare the model results with 46 AWS observation data from 2 to 9 August 2016. Four simulations were performed with different combination of two urban parameterization schemes and two land cover data. Two schemes are Best scheme and MORUSES (Met Office Reading Urban Surface Exchange Scheme) and two land cover data are IGBP (International Geosphere and Biosphere Programme) and EGIS (Environmental Geographic information service) land cover data. When land use data change from IGBP to EGIS, urban ratio over the study area increased by 15.9%. The results of the study showed that the higher change in urban fraction between IGBP and EGIS, the higher the improvement in temperature performance, and the higher the urban fraction, the higher the effect of improving temperature performance of the urban parameterization scheme. 1.5-m temperature increased rapidly during the early morning due to increase of sensible heat flux in EXP2 compared to CTL. The MORUSES with EGIS (EXP3) provided best agreement with observations and represents a reasonable option for simulating the near surface temperature of urban area.

Nitric oxide-Releasing Chitosan Nanoparticles; A Potential Impeding Strategy Against Salinity Stress in Arabidopsis thaliana

  • Waqas Rahim;Anjali Pande;Nusrat Jahan Methela;Da-Sol Lee;Bong-Gyu Mun;Hak-Yoon Kim;Byung-Wook Yun
    • Proceedings of the Korean Society of Crop Science Conference
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    • 2022.10a
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    • pp.157-157
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    • 2022
  • Plants being sessile are prone to various abiotic challenges, including salinity. Plants generally cope with salt stress by regulating their endogenous NO levels. NO exogenously applied in various forms also successfully impedes the salt stress, but its small size, short half life, and high volatility rate hamper its application in agriculture. NO application via CS as a nanocarrier is an alternate option to ensure the optimal kinetic release of NO for a long period compared to the free NO form. Herein, we synthesized and characterized GSNO-CS NP by ionic gelation of TPP with CS and then reacting with GSH, followed by reaction with NaNO2 suspension. The synthesized NPs were characterized using non-destructive analytical techniques such as DLS, FTIR, and SEM to ensure their synthesis and surface morphology. NO-release profile confirmed optimal kinetic NO release for 24 h from NO-CS NP as compared to free NO form. The efficiency of NO-CS NP was checked on Arabidopsis plants under salinity stress by gauging the morphological, physiological, and enzymatic antioxidant system and SOS pathway gene expression levels. Overall, the results revealed that NO-CS NP successfully mitigates salinity stress compared to free GSNO. Concluding, the findings provide sufficient experimental evidence for the application of nanotechnology to enhance NO delivery, thus inducing more benefits for the plants under stress conditions by mitigating the deleterious impacts of salt stress on the morphological and physiological status of the plants, and regulating the ions exchange by overexpression of SOS pathway candidate genes.

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Feasibility of Percutaneous Pancreatic Stent Placement in Postoperative Pancreaticojejunostomy Stenosis

  • Juil Park;Kichang Han;Joon Ho Kwon;Man-Deuk Kim;Jong Yun Won;Sungmo Moon;Gyoung Min Kim
    • Korean Journal of Radiology
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    • v.24 no.12
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    • pp.1241-1248
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    • 2023
  • Objective: To evaluate the role of percutaneous pancreatic stent placement in postoperative pancreaticojejunostomy stenosis (PJS). Materials and Methods: This retrospective single-center study included seven procedures in five patients (four males and one female; median age, 63 years) who underwent percutaneous pancreatic stent placement for postoperative PJS between January 2005 and December 2021. The patients were referred to interventional radiology because of unfavorable anatomy or bowel abnormalities. The pancreatic duct was accessed under ultrasound and/or computed tomography guidance. A stent was placed after balloon dilatation of the PJS. Moreover, plastic stents were placed for the first two procedures, whereas bare-metal stents were used for the remaining five procedures. Technical success was defined as the successful placement of stents for the PJS, meanwhile, clinical success was defined as the normalization of pancreatic enzymes without recurrence of pancreatitis. Results: Pancreatic duct access and stent placement were successfully performed in all patients (technical success rate: 100%). All the procedures initially yielded clinical success. However, recurrence of pancreatitis was observed after two procedures that used plastic stents because of stent migration at 0.3 and 3 months after the procedure. In contrast, no instances of recurrent pancreatitis were noted after metal stent placement for a follow-up duration of 1-36 months. No serious procedure-related adverse events were observed. Conclusion: Percutaneous pancreatic stent placement may be a viable option for patients with postoperative PJS in whom an endoscopic approach is not feasible. Metal stents may be considered over plastic stents for the management of PJS, considering the possible lower stent migration and infeasibility of frequent endoscopic stent exchange due to the altered anatomy.

International Monetary System Reform and the G20 (국제통화제도의 개혁과 G20)

  • Cho, Yoon Je
    • KDI Journal of Economic Policy
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    • v.32 no.4
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    • pp.153-195
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    • 2010
  • The recent global financial crisis has been the outcome of, among other things, the mismatch between institutions and the reality of the market in the current global financial system. The International financial institutions (IFIs) that were designed more than 60 years ago can no longer effectively meet the challenges posed by the current global economy. While the global financial market has become integrated like a single market, there is no international lender of last resort or global regulatory body. There also has been a rapid shift in the weight of economic power. The share of the Group of 7 (G7) countries in global gross domestic product (GDP) fell and the share of emerging market economies increased rapidly. Therefore, the tasks facing us today are: (i) to reform the IFIs -mandate, resources, management, and governance structure; (ii) to reform the system such as the international monetary system (IMS), and regulatory framework of the global financial system; and (iii) to reform global economic governance. The main focus of this paper will be the IMS reform and the role of the Group of Twenty (G20) summit meetings. The current IMS problems can be summarized as follows. First, the demand for foreign reserve accumulation has been increasing despite the movement from fixed exchange rate regimes to floating rate regimes some 40 years ago. Second, this increasing demand for foreign reserves has been concentrated in US dollar assets, especially public securities. Third, as the IMS relies too heavily on the supply of currency issued by a center country (the US), it gives an exorbitant privilege to this country, which can issue Treasury bills at the lowest possible interest rate in the international capital market. Fourth, as a related problem, the global financial system depends too heavily on the center country's ability to maintain the stability of the value of its currency and strength of its own financial system. Fifth, international capital flows have been distorted in the current IMS, from EMEs and developing countries where the productivity of capital investment is higher, to advanced economies, especially the US, where the return to capital investment is lower. Given these problems, there have been various proposals to reform the current IMS. They can be grouped into two: demand-side and supply-side reform. The key in the former is how to reduce the widespread strong demand for foreign reserve holdings among EMEs. There have been several proposals to reduce the self-insurance motivation. They include third-party insurance and the expansion of the opportunity to borrow from a global and regional reserve pool, or access to global lender of last resort (or something similar). However, the first option would be too costly. That leads us to the second option - building a stronger globalfinancial safety net. Discussions on supply-side reform of the IMS focus on how to diversify the supply of international reserve currency. The proposals include moving to a multiple currency system; increased allocation and wider use of special drawing rights (SDR); and creating a new global reserve currency. A key question is whether diversification should be encouraged among suitable existing currencies, or if it should be sought more with global reserve assets, acting as a complement or even substitute to existing ones. Each proposal has its pros and cons; they also face trade-offs between desirability and political feasibility. The transition would require close collaboration among the major players. This should include efforts at the least to strengthen policy coordination and collaboration among the major economies, and to reform the IMF to make it a more effective institution for bilateral and multilateral surveillance and as an international lender of last resort. The success on both fronts depends heavily on global economic governance reform and the role of the G20. The challenge is how to make the G20 effective. Without institutional innovations within the G20, there is a high risk that its summits will follow the path of previous summit meetings, such as G7/G8.

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The study on payment system improvement in Korean firms : The impacts of stock options on pay equity, job attitude and intention to turnover (한국 기업의 보상제도 개선을 통한 경쟁력 제고 방안 : 스톡옵션의 부여에 관한 인식과 보상공정성, 직무태도 및 이직의도와의 관계에 관한 연구)

  • Cha, Sung-Ho;Yang, Dong-Hoon
    • Journal of the Korea Society of Computer and Information
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    • v.16 no.2
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    • pp.267-278
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    • 2011
  • This study examines the relationship among stock options, pay equity, organizational commitment. Employees who received stock options tend to perceive their pay more equitable and the tendency shows a positive relationship among the amount of stock options and the equity perception. Also employees who received stock options perceive greater procedural equity, as they recognize stock options are awarded to many employees. However, the perception of stock options was not significantly associated with organizational commitment, turnover intention, and pay satisfaction. In 2003, the study surveyed 115 employees who received stock options in 10 publicly owned Korean firms that introduced stock option plans. The statistical analysis leads to the conclusions as follows. First, as the number of stock options increases, the receiver tends to perceive that pay system is more distributively equitable. Second, as the number of stock option receivers increases, the employees perceive the pay system more procedurally equitable. Third, stock option payments don't ensure that it improves pay satisfaction, turnover intention, and organizational commitment. This study shows a positive relationship that stock options work favorably in terms of pay equity, but the effect doesn't seem to be widely positive. The reason is that the introduction of stock options in domestic firms has been made only recently after the foreign exchange crisis in the late 1990s. More experiments and design issues should be discussed for the future.

A Proposal for the Invigoration of Maritime Arbitration (해사중재 활성화를 위한 전제조건에 관한 논의)

  • Lee, Jung-Won
    • Journal of Arbitration Studies
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    • v.22 no.3
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    • pp.141-163
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    • 2012
  • In Korea, although nearly all maritime arbitration cases are dealt with by the Korean Commercial Arbitration Board (KCAB), the total number of cases that are referred to the KCAB is relatively small compared with the total number of maritime cases that occur in Korea. There may be reasons why maritime arbitration is not utilized more in Korea. However, of the above reasons, the superseding one may be that there is still a lack of confidence in the credibility and foreseeability of maritime arbitration in Korea. To expand the use of maritime arbitration in Korea, it is essential that the base surrounding maritime arbitration be expanded. In addition, it is also necessary that specialists receivetraining in maritime law. In this context, it is strongly recommended that maritime and admiralty law be taught in law schools and be included as a regular subject on the Korean bar exam. Additionally, to promote maritime arbitration, a rule should be introduced allowing for shortened arbitration proceedings in Korea. Although Chapter 8 of the KCAB Arbitration Rules provide for "Expedited Procedure," this process alone is not because the rules for Expedited Procedure generally apply in arbitration cases where both parties have agreed in a separate agreement to follow the procedures provided or in any domestic arbitration valued atless than 100,000,000 Korean won. Therefore, the KCAB Arbitration Rules for Expedited Procedure must be reformed to encompass international arbitrations. Additionally, experts who are experienced in the maritime sector should be elected as arbitrators. Given the factthat a fair number of arbitration cases can be characterized as international, it is important that businesspersons who are very fluent in English be appointed as arbitrators in order to increase the reliability of maritime arbitration in Korea and save costs. Meanwhile, because lawyers and scholars constitute a considerable portion of KCAB arbitrators, commercial persons from relevant industries should be enlisted as arbitrators. Even though there are arguments for the establishment of an independent maritime arbitration board in Korea, establishment of a separate maritime arbitration board will not directly guarantee the prosperity of maritime arbitration in Korea. Instead of instituting a new maritime arbitration board, it is better that a reorganized KCAB modify existing arbitration proceedings to make them faster and more economical if maritime arbitration is to prosper. In this regard, ad-hoc arbitration would be an option for speedy and thrifty maritime arbitration. Finally, to gain the confidence of domestic and foreign parties, we cannot ignore the importance of advertising the specialties and qualifications of the KCAB and its personnel among business entities.

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Failure of Mitral Valve Repair in a Dog with Severe Mitral Regurgitation (심한 이첨판 역류를 가진 개에 실시한 이첨판 성형술의 실패 원인)

  • Kim, Min-Su
    • Journal of Veterinary Clinics
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    • v.29 no.5
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    • pp.416-421
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    • 2012
  • A 10-year-old 4-kg spayed female Chihuahua with severe congestive heart failure was referred for surgical treatment. Through several examinations, the dog was diagnosed as severe mitral regurgitation (MR) and moderate TR. Because of the poor prognosis associated with continuation of medical management, surgical repair of the mitral valve was considered as the treatment option for the dog. The mitral valve repair was performed undergoing cardio pulmonary bypass (CPB) circuit. However after mitral repair, the dog was died without recovery from anesthesia. Many risk factors associated with failure of cardiac surgery are included CPB management, hypothermia, organ dysfunction, hemorrhage, hypotension, electrolyte & acid base imbalance, and infection. Although the dog is died from the operation, it is an important to reveal the factors of failure in veterinary clinic. From the case report, causes of failure of mitral valve repair can be considered from the failure of oxygenation and gas exchange by hypothermia and serious hypotension with low heart rate by low cardiac output syndrome (LCOS). Through the several considerations from this case, it is known that coming cardiac surgery for mitral valve repair is required to be more careful for successful operation. Further it can be brought to increase success rate in further operation.

Analyzing on the Fluctuation Characteristics of Management Condition of Construction Company (건설업체 경영상태 변동에 대한 특성 분석)

  • Jang, Ho-Myun
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.15 no.2
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    • pp.1118-1125
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    • 2014
  • The past IMF foreign exchange crisis and subprime financial crisis had a big influence on variability of macroeconomics, even if the origin of its occurrence might be different. This not only had a significant infrequence on the overall industries, but also produced many insolvent companies by being closely linked with a management environment of an individual construction company leading the construction industry. The purpose of this research is to investigate characteristics of management condition of construction company according to the size of construction company using KMV model developed on the basis of the Black & Scholes option pricing theory. This research has set 28 construction companies listed to KOSPI/KOSDAQ for applying the KMV model and measuring the level of the default risk of construction companies. The data was retrieved from TS2000 established by Korea Listed Companies Association (KLCA), Statistics Korea. The analysis period is between first quarter of 2004 and fourth quarter of 2010. This research examine characteristics of the level and fluctuation process of the management condition of construction company according to the size of construction company.