• 제목/요약/키워드: expiration

검색결과 358건 처리시간 0.028초

주가지수 선물과 옵션의 만기일이 주식시장에 미치는 영향: 개별 종목 분석을 중심으로 (Expiration-Day Effects: The Korean Evidence)

  • 최혁;엄윤성
    • 재무관리연구
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    • 제24권2호
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    • pp.41-79
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    • 2007
  • 본 논문은 주가지수 선물과 옵션의 만기일이 주식시장에 어떠한 영향을 미치는가에 대한 분석을 통해 한국주식시장에서 만기일 효과가 존재하는지를 검증한다. 주가지수를 이용한 기존의 논문과는 달리 만기일에 현물 주식시장의 움직임을 개별 종목별로 분석했다는 점에서 본 논문은 차별성을 지닌다. 주가지수는 시장 움직임의 평균으로 개별 종목의 고유한 특성을 반영하지 못하기 때문에 주가지수를 이용한 분석은 만기일 효과를 해석하고 그 원인을 분석하는데 한계를 지니고 있다. 분석 결과 한국주식시장에서 선물 만기일 효과는 분명히 존재하지만, 옵션 만기일 효과는 뚜렷하지 않은 것으로 드러났다. 선물 만기일에 KOSPI 200 지수와 개별 종목은 가격상승 압력이 존재하고, 변동성과 거래량이 증가하며, 만기일 다음날 수익률은 반전하는 경향이 있는 것으로 나타났다. 그러나 비교표본인 NON-KOSPI 200 지수와 개별 종목에서 만기일 효과가 존재한다고 할 만한 증거를 찾지 못했다. 만기일 효과가 시장 전체적으로 나타나는 것처럼 보이지만 KOSPI 200에 속하는 대규모 기업에 한정되며, 장 후반에 집중적으로 나타난다는 사실은 프로그램 매매와 만기일의 결제제도가 만기일 효과의 간접적 원인임을 시사한다. 또한 만기일 다음날 가격이 반전하는 현상이 KOSPI 200에 속하는 대규모 기업에 한정되어 나타나는 사실은 만기일 효과가 새로운 정보의 반영에 의한 정보 효과(information effects)가 아니라 일시적 거래불균형에 의한 유동성 효과(liquidity effects)임을 보여주는 증거가 된다.

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Multifidus Thickness Comparison between the Effectiveness of Abdominal Bracing and Maximum Expiration Maneuvers in Lumbo-Pelvic Upright Sitting Posture

  • Ko, Minjoo;Kim, Sujung
    • 국제물리치료학회지
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    • 제11권4호
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    • pp.2178-2183
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    • 2020
  • Background: Trunk flexor-extensor muscles' co-activation and upright posture are important for spinal stability. Abdominal bracing and maximal expiration are being used as exercises to excel torso co-contraction. However, no study has on comparison of the effect of this exercise on multifidus in the upright sitting posture. Objectives: This study aims to verify the effectiveness of abdominal bracing and expiration maneuvers in lumbo-pelvic upright sitting. Design: Cross-sectional study. Methods: Eighteen healthy women were recruited for this study. The multifidus muscle thickness of all subjects was measured in three sitting conditions (lumbo-pelvic upright sitting, lumbo-pelvic upright sitting with abdominal bracing, and lumbo-pelvic upright sitting with maximum expiration) using ultrasound. One-way repeated measure analysis of variance was used for the evaluation. Results: Compared to lumbo-pelvic upright sitting, lumbo-pelvic upright sitting with abdominal bracing and lumbo-pelvic upright sitting with maximum expiration were associated with significantly increment of muscle thickness. There was no significant difference in muscle thickness between lumbo-pelvic upright sitting with abdominal bracing and lumbo-pelvic upright sitting with maximum expiration. Conclusion: Abdominal bracing and maximum expiration could be beneficial to increasing lumbar multifidus thickness in lumbo-pelvic upright sitting.

만성뇌졸중 환자의 최대 호기와 배 안으로 밀어 넣기가 복부근육두께에 미치는 효과 (A comparison of the Effects on Abdominal Muscles between the Abdominal Drawing-in Maneuver and Maximal Expiration in Chronic Stroke Patients)

  • 서동권;김지선
    • 대한물리의학회지
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    • 제10권4호
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    • pp.33-38
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    • 2015
  • PURPOSE: Although the abdominal drawing-in maneuver is commonly used in clinical training for trunk stability, performing this procedure in stroke patients is difficult; instead, maximal expiration can be much easily performed in stroke patients. In the present study, we first aimed to demonstrate the effects of the abdominal drawing-in maneuver and maximal expiration on trunk stability in stroke patients. Moreover, we compared the thickness of the transverse abdominal, internal oblique, and external oblique muscles on the paretic and non-paretic sides. METHODS: We used ultrasonography to measure the change in the thickness of the transverse abdominal, internal oblique, and external oblique muscles on the paretic and non-paretic sides at rest, while performing the abdominal drawing-in maneuver, and while performing maximal expiration in 23 stroke patients. The ratio of muscle thickness between different conditions was estimated and included in the data analysis (abdominal drawing-in maneuver / at rest and, maximal expiration / at rest). RESULTS: The ratio of the thickness of the transverse abdominal, internal oblique and external oblique muscles during maximal expiration was significantly different on the paretic side (p < 0.05). The ratio of muscle thicknesses on the non-paretic side was greater during maximal expiration than during the abdominal drawing-in maneuver, although this difference was not significant (p > 0.05). CONCLUSION: Our results suggest that maximal expiration more effectively increased the abdominal muscle thickness on the paretic side. Hence, we recommend the application of maximal expiration in clinical trunk stability training on the paretic side of stroke patients.

Effect of Slowly Forced Expiration on Abdominal Muscle Activity During Cross Knee Curl-Up Exercise

  • Yoon, Tae-Lim;Kim, Ki-Song
    • 한국전문물리치료학회지
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    • 제21권1호
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    • pp.63-69
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    • 2014
  • Cross knee curl-up is an ideal variation of abdominal curl up exercise to strengthen abdominal musculature without excessive lumbar flexion which can increase the loads on the disc and ligaments. In addition, slowly forced expiration can facilitate the activation of the abdominal musculature. The purpose of this study was to determine the effects of slowly forced expiration on activity of abdominal muscles, such as rectus abdominis (RA), external oblique (EO), and transverse abdominis/internal oblique (TrA/IO), while cross knee curl-up. Eleven young and healthy subjects (6 males and 5 females) participated. All subjects performed the cross knee curl-up slowly forced expiration and natural breathing. Paired t-test was performed in normalized electromyogram (EMG) muscle activity of the bilateral RA, EO, and TrA/IO to compare the differences between the cross curl-up with slowly forced expiration and natural breathing. Statistical significance was set at .05. There were no significant differences in normalized EMG muscle activity of the bilateral RA, EO, and TrA/IO between the cross curl-up with slowly forced expiration and natural breathing. The finding of this study designates that slowly forced expiration does not induce increasing activity of abdominal muscle in cross knee curl-up; hence, learning step of breathing control might not be necessary to strengthen abdominal muscle in cross knee curl-up.

한국 주식시장에서의 만기일효과: Wag the Dog? (Expiration Day Effects in Korean Stock Market: Wag the Dog?)

  • 박창균;임경묵
    • KDI Journal of Economic Policy
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    • 제25권2호
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    • pp.137-170
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    • 2003
  • 선물 옵션시장의 급속한 성장에도 불구하고 시장참여자들이나 금융감독기관에서는 선물 옵션시장의 만기 등으로 인한 추가적인 변동성 등 시장교란효과 발생에 대한 우려를 나타내고 있다. 본 연구는 한국증권거래소에 상장되어 있는 KOSPI200 지수 관련 파생상품의 만기일에 KOSPI200 지수의 비정상적인 수익률, 수익률의 변동성, 거래량 및 가격반전 등이 존재하는지 분석한다. 일별 자료를 이용한 기존 국내 연구에서 만기일효과(expiration day effects)가 존재하지 않았던 것과는 달리 고빈도 자료를 이용할 경우 만기일 폐장 전 10분을 중심으로 강한 만기일효과가 존재함을 보인다. 또한, 이러한 결과가 우리나라 선물 옵션시장의 결제제도에 영향받았을 가능성에 대해서도 논의한다.

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YOLO와 OCR 알고리즘에 기반한 시각 장애우를 위한 유통기한 알림 시스템 (Expiration Date Notification System Based on YOLO and OCR algorithms for Visually Impaired Person)

  • 김민수;문미경;한창희
    • 한국전자통신학회논문지
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    • 제16권6호
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    • pp.1329-1338
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    • 2021
  • 점자를 제외한 시각 장애우들이 유통기한을 확인할 수 있는 효과적인 방법이 거의 개발되어 있지 않으며, 이로 인하여 시각 장애우들의 식품 안전성이 위협받고 있다. 본 연구에서는 시각 장애우의 식품 안전성 확보를 위해 실시간 객체 인식 알고리즘(you only look once, YOLO) 및 광학 문자 인식 (optical character recognition, OCR)에 기반한 유통기한 알림 시스템을 개발했다. 제안하는 시스템은 총 4가지 단계로 시각 장애우에게 유통기한 정보를 전달한다: (1) 표적 제품의 바코드 스캔을 통한 제품 확인 (2) 실시간으로 입력되는 제품 영상에서 YOLO 알고리즘을 활용하여 유통기한이 표기된 이미지 영역 검출; (3) 검출된 이미지 영역에서 OCR 알고리즘을 활용하여 유통기한 문자 인식; (4) Text to Speech (TTS) 기술을 활용하여 유통기한 정보를 사용자에게 전달. 성능 평가를 위한 온라인 실험 결과, 앞이 보이지 않는 피험자가 개발한 시스템을 사용해서 제품의 유통기한을 평균 86%의 높은 정확도로 확인할 수 있음이 검증되었다. 이러한 결과는 제안하는 시스템이 저시력자를 포함한 시각 장애우들의 식품 안전성 확보에 이바지할 수 있음을 보여준다.

화장품 유통기한 알림이 앱 개발 (Development of Notify App for Cosmetics Expiration Date)

  • 조광문
    • 디지털융복합연구
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    • 제13권3호
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    • pp.179-184
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    • 2015
  • 본 논문에서는 화장품 유통기한을 알고 안전한 화장품을 사용할 수 있게 도와주는 앱을 설계하고 개발하였다. 현대 사람들의 화장품 사용량이 점점 더 증가함에 따라서 화장품 유통기한의 중요성이 증대되고 있어 이를 알려주는 앱으로 활용할 수 있을 것이다. 자신이 사용하는 화장품을 등록하고 지속적으로 관리할 수 있는 자기관리를 위한 앱이다. 화장품을 카테고리별로 등록하여 관리할 수 있다. 또한 개개인의 피부 성향에 맞추어 팁을 제공하여 다양한 사람들이 각자의 성향에 따라 활용할 수 있는 앱이다.

Can Coupon Holding Duration and Message Framing Increase the Effect of Push Notifications on Mobile Coupon Redemption? Evidence from A Randomized Field Experiment

  • Soonki Hwang;Jai-Yeol Son;Sunju Park;Kil-Soo Suh
    • Asia pacific journal of information systems
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    • 제33권3호
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    • pp.812-830
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    • 2023
  • We propose a mobile coupon strategy designed to increase the effect of push notifications on redemption. The proposed strategy recommends that firms deliver mobile coupons with distant expiration dates and remind them through push notifications framed negatively once these expiration dates become imminent, rather than frequently sending coupons with near expiration dates. We test the effectiveness of the proposed strategy using data collected through a randomized field experiment. The findings indicate that push notifications enhance coupon redemption rates for coupons that are held longer by customers than those that are recently received. Additionally, we found that sending negatively framed push notification messages to remind customers of imminent coupon expiration dates further resulted in higher coupon redemption rates. The findings can be employed to offer useful guidance on how to effectively design mobile coupons for achieving higher redemption rates.

상대적인 호기와 흡기시간의 차이가 HRV에 미치는 영향 -대조군과 호흡유도의 비교- (Relative Timing of Inspiration and Expiration Affects Heart Rate Variability - Between Regulated Respiration and Control Group -)

  • 양동훈;박영배;박영재
    • 대한한의진단학회지
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    • 제11권1호
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    • pp.146-156
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    • 2007
  • 1. The effect of variations in inspiration and expiration times on heart rate variability was studied in 78 healthy subjects (mean age $24.35{\pm}1.92$ years; 47 male) between regulated respiration group and normal respiration group as the control group. 2. The control group followed normal respiration pattern, whereas the regulated group followed three types of respiration pattern. The first pattern was long respiration(E/I ratio 1.6:1), the second pattern was short inspiration followed by long expiration (SILE), and the last pattern was long inspiration followed by short expiration(LISE). The average expiration/inspiration time ratios of SILE and LISE were 1.0 and 3.4, respectively. The respiration rate in the regulated group was approximately 10 cycles/min. 3. Respiration rate and tidal volume are respiratory variables known to modulate RSA. The results of the present study indicate that RSA can also be modulated by a third respiratory variable, the expiration/inspiratory time ratio. In this study, LF, HF, RSA, VLF is increased the most in LISE group compared to the other groups. HF and RSA increased significantly in the long respiration rate and SILE groups. However LF and VLF, which reflects the sympathetic tones, did not increase as much as the LISE group.

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누운 자세에서 호흡에 따른 요추분절의 운동학적 분석 (Kinematics Analysis of Lumbar Spine during Breathing in Lying Position)

  • 육군창;박소현;김중선
    • The Journal of Korean Physical Therapy
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    • 제23권5호
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    • pp.15-21
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    • 2011
  • Purpose: The purpose of this study was to describe the influence of respiration on the segmental motion of the lumbar spine in the lying position. Methods: Twelve healthy females without a history of low back pain participated. Lumbosacral lordosis, intervertebral body angles, intervertebral body displacements, and anterior heights of the intervertebral disc of the lumbar spine were measured at inspiration, expiration and forced expiration in the supine and prone positions via fluoroscopy. Results: The results of lumbar kinematic analysis in the supine position according to respiration pattern were as follows. The L4/5 intervertebral body angle was significantly higher at forced expiration than at expiration (p<0.05). The L3/4 anterior height of the intervertebral disc was significantly higher at expiration than at forced inspiration and the L5/S1 anterior height of the intervertebral disc was significantly higher at inspiration than at forced expiration (p<0.05). There were no significant differences in the intervertebral body displacements and lumbosacral lordosis in the supine position (p>0.05). The results of lumbar kinematic analysis in the prone position according to respiration pattern were as follows. The L5/S1 anterior height of the intervertebral disc was significantly higher at inspiration than at forced expiration (p<0.05). However, there was no significant difference in the intervertebral body angle, the intervertebral body displacements, and the lumbosacral lordosis (p>0.05). Conclusion: These findings suggested that respiration can affect the intervertebral body angle and anterior height of the intervertebral disc in some segments. The results from this study serve as a step in the development of guidelines for lumbar kinematic analysis for lumbar breathing training.