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Effect of Venture Capitalists on the ChiNext IPO First-Day Return in China (중국 차이넥스트 시장의 벤처캐피탈이 IPO 첫날 수익률에 미치는 영향)

  • Kang, Kai;Ahialey, Joseph Kwaku;Kang, Ho-Jung
    • Management & Information Systems Review
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    • v.36 no.4
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    • pp.117-127
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    • 2017
  • In recent times the size of the world IPO in general has skyrocketed. Specifically, China's financial market development is becoming important as both the size of China's capital market and the number of companies going public are gradually increasing. This has led to a rapid development of venture vapital(VC) institutions in China for the past couple of decades. This study focuses on one of the three markets of China's Shenzhen Stock Exchange-the Growth Enterprise Board((GEB) hereafter, ChiNext). The ChiNext is established in October, 2009 to enable hi-tech or high growth potential technology companies that find it relatively difficult to fulfil the listing requirements of either the Shenzhen Main Board or Small and Medium Size Enterprise Board(SMEB) to go public. This study covers a three-year period(2012/01/-2015/01) and analyze first day initial return of 83 venture capital-backed companies and 53 non-venture capital-backed companies using T-test. Regression analysis is used as to examine the variables affecting IPO's first-day return. The empirical results are four-fold. First, the level of first day return of venture-backed is significantly lower than non venture capital backed support in the Chinese venture capital market. Second, the level of first-day return of listed companies supported by foreign venture capital is significantly higher than that of companies receiving domestic venture capital support. Third, the firms that have a large number of venture capital firms showed a low level of first-day return. Fourth, regression result for the IPO first-day return which is as dependent variable indicates that the venture capital support(VCAP), number of venture capital(VCNum), offering size(Lnsize) and PER all affect have negative effect on the first day initial return. Also, the venture capital type(VCType), turnover ratio and the the firm type(Tech-firms) statistically affect IPO first day return positively. Finally, by shedding more light on the IPO first-day return, this paper provides meaningful information to investors about the Chinese IPO market.

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Pelvic MRI Application to the Dosimetric Analysis in Brachytherapy of Uterine Cervix Carcinoma (자궁경부암의 강내조사치료에 있어서 흠수선량평가시 골반강 자기공명사진의 응용)

  • Chung, Woong-Ki;Nah, Byung-Sik;Ahn, Sung-Ja
    • Radiation Oncology Journal
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    • v.15 no.1
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    • pp.57-64
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    • 1997
  • Purpose : Before we report the results of curative radiotherapy in cervix cancer patients, we review the significance and safety of our dose specification methods in the brachytherapy system to have the insight of the potential Predictive value of doses at specified points. Matersials and Methods : We analyze the 리5 cases of cervix cancer patients treated with intracavitary brachytherapy in the lateral simulation film we draw the isodose curve and observe the absorbed dose rate of point A, the reference point of bladder(SBD) and rectum(SRD). In the sagittal view of Pelvic MRI film we demarcate the tumor volume(TV) and determine whether the prescription dose curve of point A covers the tumor volume adequately by drawing the isodose curve as correctly as possible. Also we estimate the maximum Point dose of bladder(MBD) and rectum(MRD) and calculate the inclusion area where the absorbed dose rate is higher than that of point A in the bladder(HBV) and rectum(HRV), respectively. Results : Of forty-five cases, the isodose curve of point A seems to cover tumor volume optimally in only 24(53%). The optimal tumor coverage seems to be associated not with the stage of the disease but with the tumor volume. There is no statistically significant association between SBD/SRD and MBD/MRD, respectively. SRD has statistically marginally significant association with HRV, while TV has statistically significant association with HBV and HRV. Conclusion : Our current treatment calculation methods seem to have the defect in the aspects of the nonoptimal coverage of the bulky tumor and the inappropriate estimation of bladder dose. We therefore need to modify the applicator geometry to optimize the dose distribution at the position of lower tandem source. Also it appears that the position of the bladder in relation to the applicators needs to be defined individually to define 'hot spots'.

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A MVC Framework for Visualizing Text Data (텍스트 데이터 시각화를 위한 MVC 프레임워크)

  • Choi, Kwang Sun;Jeong, Kyo Sung;Kim, Soo Dong
    • Journal of Intelligence and Information Systems
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    • v.20 no.2
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    • pp.39-58
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    • 2014
  • As the importance of big data and related technologies continues to grow in the industry, it has become highlighted to visualize results of processing and analyzing big data. Visualization of data delivers people effectiveness and clarity for understanding the result of analyzing. By the way, visualization has a role as the GUI (Graphical User Interface) that supports communications between people and analysis systems. Usually to make development and maintenance easier, these GUI parts should be loosely coupled from the parts of processing and analyzing data. And also to implement a loosely coupled architecture, it is necessary to adopt design patterns such as MVC (Model-View-Controller) which is designed for minimizing coupling between UI part and data processing part. On the other hand, big data can be classified as structured data and unstructured data. The visualization of structured data is relatively easy to unstructured data. For all that, as it has been spread out that the people utilize and analyze unstructured data, they usually develop the visualization system only for each project to overcome the limitation traditional visualization system for structured data. Furthermore, for text data which covers a huge part of unstructured data, visualization of data is more difficult. It results from the complexity of technology for analyzing text data as like linguistic analysis, text mining, social network analysis, and so on. And also those technologies are not standardized. This situation makes it more difficult to reuse the visualization system of a project to other projects. We assume that the reason is lack of commonality design of visualization system considering to expanse it to other system. In our research, we suggest a common information model for visualizing text data and propose a comprehensive and reusable framework, TexVizu, for visualizing text data. At first, we survey representative researches in text visualization era. And also we identify common elements for text visualization and common patterns among various cases of its. And then we review and analyze elements and patterns with three different viewpoints as structural viewpoint, interactive viewpoint, and semantic viewpoint. And then we design an integrated model of text data which represent elements for visualization. The structural viewpoint is for identifying structural element from various text documents as like title, author, body, and so on. The interactive viewpoint is for identifying the types of relations and interactions between text documents as like post, comment, reply and so on. The semantic viewpoint is for identifying semantic elements which extracted from analyzing text data linguistically and are represented as tags for classifying types of entity as like people, place or location, time, event and so on. After then we extract and choose common requirements for visualizing text data. The requirements are categorized as four types which are structure information, content information, relation information, trend information. Each type of requirements comprised with required visualization techniques, data and goal (what to know). These requirements are common and key requirement for design a framework which keep that a visualization system are loosely coupled from data processing or analyzing system. Finally we designed a common text visualization framework, TexVizu which is reusable and expansible for various visualization projects by collaborating with various Text Data Loader and Analytical Text Data Visualizer via common interfaces as like ITextDataLoader and IATDProvider. And also TexVisu is comprised with Analytical Text Data Model, Analytical Text Data Storage and Analytical Text Data Controller. In this framework, external components are the specifications of required interfaces for collaborating with this framework. As an experiment, we also adopt this framework into two text visualization systems as like a social opinion mining system and an online news analysis system.

The NCAM Land-Atmosphere Modeling Package (LAMP) Version 1: Implementation and Evaluation (국가농림기상센터 지면대기모델링패키지(NCAM-LAMP) 버전 1: 구축 및 평가)

  • Lee, Seung-Jae;Song, Jiae;Kim, Yu-Jung
    • Korean Journal of Agricultural and Forest Meteorology
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    • v.18 no.4
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    • pp.307-319
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    • 2016
  • A Land-Atmosphere Modeling Package (LAMP) for supporting agricultural and forest management was developed at the National Center for AgroMeteorology (NCAM). The package is comprised of two components; one is the Weather Research and Forecasting modeling system (WRF) coupled with Noah-Multiparameterization options (Noah-MP) Land Surface Model (LSM) and the other is an offline one-dimensional LSM. The objective of this paper is to briefly describe the two components of the NCAM-LAMP and to evaluate their initial performance. The coupled WRF/Noah-MP system is configured with a parent domain over East Asia and three nested domains with a finest horizontal grid size of 810 m. The innermost domain covers two Gwangneung deciduous and coniferous KoFlux sites (GDK and GCK). The model is integrated for about 8 days with the initial and boundary conditions taken from the National Centers for Environmental Prediction (NCEP) Final Analysis (FNL) data. The verification variables are 2-m air temperature, 10-m wind, 2-m humidity, and surface precipitation for the WRF/Noah-MP coupled system. Skill scores are calculated for each domain and two dynamic vegetation options using the difference between the observed data from the Korea Meteorological Administration (KMA) and the simulated data from the WRF/Noah-MP coupled system. The accuracy of precipitation simulation is examined using a contingency table that is made up of the Probability of Detection (POD) and the Equitable Threat Score (ETS). The standalone LSM simulation is conducted for one year with the original settings and is compared with the KoFlux site observation for net radiation, sensible heat flux, latent heat flux, and soil moisture variables. According to results, the innermost domain (810 m resolution) among all domains showed the minimum root mean square error for 2-m air temperature, 10-m wind, and 2-m humidity. Turning on the dynamic vegetation had a tendency of reducing 10-m wind simulation errors in all domains. The first nested domain (7,290 m resolution) showed the highest precipitation score, but showed little advantage compared with using the dynamic vegetation. On the other hand, the offline one-dimensional Noah-MP LSM simulation captured the site observed pattern and magnitude of radiative fluxes and soil moisture, and it left room for further improvement through supplementing the model input of leaf area index and finding a proper combination of model physics.

A Study on improvement of traffic accident safety index for Uljugun, Ulsan (교통사고 안전지수 등급 향상방안 연구_울산광역시 울주군 중심으로)

  • Kim, Yong Moon;Kang, Seong Kyung;Lee, Young Jai
    • Journal of Korean Society of Disaster and Security
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    • v.10 no.2
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    • pp.7-19
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    • 2017
  • Recently, the incidence of disasters and safety incidents is increasing rapidly, and the interest and demands of the people are increasing. In particular, traffic accidents in Korea are decreasing due to the continuous efforts of the government and the local governments, but still higher than the OECD average. In response to such demands of the times, the 'Regional Safety Index', a numerical value that quantifies the level of safety of each local government, is being publicized every year to awaken public awareness. The Regional Safety Index covers seven categories of accidents (traffic accidents, crimes, suicide, infectious diseases, fire, safety accidents, and natural disasters) in local governments. But, this study focuses on the traffic accident area and analyzed. The target local government is Ulju county of Ulsan Metropolitan City. Based on the traffic accident statistical data of Ulju county, the analysis of the traffic accidents and vulnerable points were analyzed. Among them, 3 key improvement districts were selected and 15 vulnerable branches were selected for each key improvement district. Next, we prepared measures for improvement of each accident vulnerable site through analysis of geographic information through traffic data related to traffic accidents and interview with related organizations. In addition, the improvement measures are divided into the structural infrastructure improvement, the institutional improvement, and the traffic safety culture movement from the viewpoint of traffic accident prevention. Finally, the implications of this study are to clarify the duties and roles of the relevant departments in the municipality, based on the implementation schedule of the improvement projects for the prevention of traffic accidents and the budget plan. In addition, it is very important that the participating agencies involved in traffic accidents and the private sector participate in the project.

Selection of Cultivars with Vigorous Growth Habit for Street Tree, Dwarf Tree Form for Pot Plants, and Spreading Branches for Groundcovers in the Recently Developed Cultivars of Rose of Sharon (Hibiscus spp.) for Landscape Uses (나라꽃 무궁화 품종중 가로수용, 분화용 및 지피용으로 조경적 활용도가 높은 품종 선정)

  • Kang, Ho-Chul;Kim, Dong-Yeob;Ha, Yoo-Mi
    • Journal of the Korean Institute of Traditional Landscape Architecture
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    • v.34 no.2
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    • pp.87-99
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    • 2016
  • This study was carried out to characterize 127 recently developed cultivars of Rose of Sharon (Hibiscus spp.) in Korea and foreign Countries for landscape uses. The examined factors were growth characteristics such as tree height of a 1-year grafted plant(cm), plant type, growth habit, leaf characteristics such as shape and size, flower characteristics such as color, shape, size, and red eye during 2014 and 2015 for landscape uses. The results are obtained as follows; Hibiscus hybrid 'Daewangchun', 'Daeil', 'Lohengrin', 'Yeonam', 'Joomong', 'Jina', and H. syriacus 'Honggarosu' had vigorous shoot growth and tall tree size of 100cm. New Hibiscus cultivars, Hibiscus hybrid 'Daewangchun' and 'Daeil', having vigorous growth, uniform plant habit, upright, and compact branches were developed through interspecific crosses between H. syriacus 'Samchully' (♀) and H. sinosyriacus 'Seobong' (♂). This newly developed cultivar 'Daewangchun', 'Daeil', 'Lohengrin', 'Yeonam', 'Joomong', 'Jina', and H. syriacus 'Honggarosu' having tall vigorous growth d unique flower with long red eye can be used as street tree or specimen plant in landscape. Otherwise, H. syriacus 'Tamla', 'Melrose', 'Bidan', 'Hi Lea', 'Byeollee', 'Byunghwa', 'Mibak', 'Hanyang', 'Chungam', 'Lil Kim Violet', 'Jongmoo', 'Eunhasu', Hibiscus hybrid 'Saehanseo', and Hibiscus hybrid 'Yousoon' were selected as small tree of 30~39cm. They had dwarf form in tree seemed to be suitable for pot or flower bed planting on both indoor and outdoor conditions. H. syriacus 'Antong', 'Chungjo', and 'Lil Kim' were less than 30 cm of tree size. H. syriacus 'Antong', 'Chungjo', and 'Lil Kim', characterized by its compact, upright and outwardly spreading plant habit; freely branching habit; dark green-colored leaves; good garden performance. Therefore, the new cultivars with tall and small tree size were a promising cultivar as a ground covers or pot planting as woody landscape plant.

Present Status and Future Prospect on Fishing Industry in North Korea (북한수산업(北韓水產業)의 현황(現況)과 전망(展望))

  • Lee, Byoung-Gee;Kim, Jin-Kun;Choe, Jong-Hwa
    • Journal of Fisheries and Marine Sciences Education
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    • v.3 no.2
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    • pp.73-82
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    • 1991
  • In recent years, the communication and the trade between the Republic of Korea(South Korea) and the Communist bloc has been activated. The simultaneous entrance of South Korea and North Korea to the United Nations will accelerate the political dialogue and also the trade which is indirectly carried out through a third country at present will be turned into direct way. Fisheries products are also treated as one of the important trade goods and there is a hopeful prospect that the amount of trade will be steeply increased in the near future. Furthermore, there is a great possibility of development up to the joint utilization of fishing grounds or the joint investment in fisheries projects. Concerning such points, since it is very much important to understand the present status of fisheries in North Korea, the author made a study on this field as requested by the Board of Unification, and report a part of the study here. The prominent character of North Korea's ruling sea area is that the sea is completely separated into two regions-the East Sea Region and the West Sea Region-and no continuity exists between them. The East Sea Region locates in the fringe of the biggest fishing ground of the world-the North Pacific Ocean-and very rich in resources not only warm water fishes but also cold water fishes. Especially alaska pollack, Theragra chalcogramma, is caught abundantly in this region. Contrary to that, fishing activity in the West Sea Region seems to be interrupted in winter. Even though some valuable warm water fishes-yellow corvenia, Pseudosciaena manchurica, and hair tail, Trichiurus lepturus, and so forth-come to this region from spring to summer along the coast line of this region for spawning, and vigorous fishing activity is carried out. But the most of them migrate southward to the neighboring waters of Cheju Island for wintering from autumn to winter, and so the fishing activity in this region seems to be interrupted greatly during winter. The total number of fishing boats in North Korea is estimated at 36 thousand and the rate of mechnization at about 70% compared with 99 thousand and 78% in South Korea. North Korea proclaimed an exclusive economic zone of 200 nautical miles in 1977. Specific character of this zone is setting of military boundary zone, up to 50 miles from the base line in the East Sea Region and also it covers whole region of the economic zone in the West Sea Region. Especially in the East Sea Region she set up a straight base line which can not be permissible by the international law. North Korea's statistics on fisheries product has not been announced officially on account of her unique isolationism, but it can be estimated through several data procured. At the first, the amount of fisheries products in the North Korea is reported as about 1.7 million ${\frac{M}{T}}$ by Fisheries Statistics which issued by the FAO in 1987, but a North Korea's trade organization announced the amount as 3.5 million ${\frac{M}{T}}$ in 1988. The former seems to be underestimated and the latter must be an exaggeration. According to Chikuni, who is a Japanese worker for FAO, prepared the unofficial statistics based on the evidence which he collected through the fineries development plan of the FAO/UNDP, and estimated the mean amount between 1982 and 1984 was 2.4 million ${\frac{M}{T}}$ or so. The Board of Unification estimated on the basis of various factors that the amount was 2.2 million ${\frac{M}{T}}$ or so in 1987 and in 1988. This seems to be the most reasonable. To solve the chronic lack of foreign currency, North Korea makes effort on the development of fisheries, and has even aimed fisheries product at 11 million ${\frac{M}{T}}$ by 1993, but this target looks unrealistic under the present circumstances. Somehow, we can exploit her extreme policy which has gone so far as to establish such an excessive and impractical target. Nevertheless this will be helpful to promote the joint development of the fishery activity between South Korea and North Korea.

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Performance Evaluation of Siemens CTI ECAT EXACT 47 Scanner Using NEMA NU2-2001 (NEMA NU2-2001을 이용한 Siemens CTI ECAT EXACT 47 스캐너의 표준 성능 평가)

  • Kim, Jin-Su;Lee, Jae-Sung;Lee, Dong-Soo;Chung, June-Key;Lee, Myung-Chul
    • The Korean Journal of Nuclear Medicine
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    • v.38 no.3
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    • pp.259-267
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    • 2004
  • Purpose: NEMA NU2-2001 was proposed as a new standard for performance evaluation of whole body PET scanners. in this study, system performance of Siemens CTI ECAT EXACT 47 PET scanner including spatial resolution, sensitivity, scatter fraction, and count rate performance in 2D and 3D mode was evaluated using this new standard method. Methods: ECAT EXACT 47 is a BGO crystal based PET scanner and covers an axial field of view (FOV) of 16.2 cm. Retractable septa allow 2D and 3D data acquisition. All the PET data were acquired according to the NEMA NU2-2001 protocols (coincidence window: 12 ns, energy window: $250{\sim}650$ keV). For the spatial resolution measurement, F-18 point source was placed at the center of the axial FOV((a) x=0, and y=1, (b)x=0, and y=10, (c)x=70, and y=0cm) and a position one fourth of the axial FOV from the center ((a) x=0, and y=1, (b)x=0, and y=10, (c)x=10, and y=0cm). In this case, x and y are transaxial horizontal and vertical, and z is the scanner's axial direction. Images were reconstructed using FBP with ramp filter without any post processing. To measure the system sensitivity, NEMA sensitivity phantom filled with F-18 solution and surrounded by $1{\sim}5$ aluminum sleeves were scanned at the center of transaxial FOV and 10 cm offset from the center. Attenuation free values of sensitivity wire estimated by extrapolating data to the zero wall thickness. NEMA scatter phantom with length of 70 cm was filled with F-18 or C-11solution (2D: 2,900 MBq, 3D: 407 MBq), and coincidence count rates wire measured for 7 half-lives to obtain noise equivalent count rate (MECR) and scatter fraction. We confirmed that dead time loss of the last flame were below 1%. Scatter fraction was estimated by averaging the true to background (staffer+random) ratios of last 3 frames in which the fractions of random rate art negligibly small. Results: Axial and transverse resolutions at 1cm offset from the center were 0.62 and 0.66 cm (FBP in 2D and 3D), and 0.67 and 0.69 cm (FBP in 2D and 3D). Axial, transverse radial, and transverse tangential resolutions at 10cm offset from the center were 0.72 and 0.68 cm (FBP in 2D and 3D), 0.63 and 0.66 cm (FBP in 2D and 3D), and 0.72 and 0.66 cm (FBP in 2D and 3D). Sensitivity values were 708.6 (2D), 2931.3 (3D) counts/sec/MBq at the center and 728.7 (2D, 3398.2 (3D) counts/sec/MBq at 10 cm offset from the center. Scatter fractions were 0.19 (2D) and 0.49 (3D). Peak true count rate and NECR were 64.0 kcps at 40.1 kBq/mL and 49.6 kcps at 40.1 kBq/mL in 2D and 53.7 kcps at 4.76 kBq/mL and 26.4 kcps at 4.47 kBq/mL in 3D. Conclusion: Information about the performance of CTI ECAT EXACT 47 PET scanner reported in this study will be useful for the quantitative analysis of data and determination of optimal image acquisition protocols using this widely used scanner for clinical and research purposes.

Actual Clothing Style of Middle school girls According to Self-perception of Their Body Size (여중생의 신체 인식에 따른 착의 의복형태에 관한 연구)

  • Park Woo-Mi;Wee Eun-Hah
    • Journal of Korean Home Economics Education Association
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    • v.18 no.1 s.39
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    • pp.113-125
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    • 2006
  • The purpose of this study was to examine the effects of perception of body size on actual clothing style in middle school girls. To achieve this, this study analyzed self-perception of body size, aspired clothing style, and actual clothing style. By classifying groups into thin and thick, the difference in clothing style according to groups was also analyzed. Subjects of this study were middle school girls in Gwangju and 219 responses were collected from real body measurement and questionnaires. WIN SPSS+10.0 package was used to obtain results. Results are as follows: 1. For the self-perception of body size, middle school girls perceived much thicker in the lower body than the upper body. And they were unsatisfactory about the lower body which was perceived thick. 2. In the correlation of actual and aspired clothing style of middle school girls, they wore a aspired clothing style actually. Their actual or aspired upper clothing style was to cover the skin, exposing or covering a body silhouette. Their lower clothing style was a slacks type that covers a body silhouette and the skin. 3. In selecting actual clothing styles, middle school girls were somewhat affected by self-perceived body size. But they did not prefer the clothing styles perceived thick in girth or big in width in exposing the skin or a body silhouette. On the other hand, as it was perceived long, wearing was increased. frequently wore the upper and lower clothing styles of exposing the skin or a body silhouette than the thick group. But both groups wore the clothing styles of covering the skin or a body silhouette regardless of their thinness and thickness. And when wearing the clothing style of exposing neck and shoulder, middle school girls considered actual body size more than self-perceived size. On the other hand, when wearing the clothing style of exposing arms and silhouette by fitted legs, they considered self-perceived body size more.

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Verification of Gated Radiation Therapy: Dosimetric Impact of Residual Motion (여닫이형 방사선 치료의 검증: 잔여 움직임의 선량적 영향)

  • Yeo, Inhwan;Jung, Jae Won
    • Progress in Medical Physics
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    • v.25 no.3
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    • pp.128-138
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    • 2014
  • In gated radiation therapy (gRT), due to residual motion, beam delivery is intended to irradiate not only the true extent of disease, but also neighboring normal tissues. It is desired that the delivery covers the true extent (i.e. clinical target volume or CTV) as a minimum, although target moves under dose delivery. The objectives of our study are to validate if the intended dose is surely delivered to the true target in gRT and to quantitatively understand the trend of dose delivery on it and neighboring normal tissues when gating window (GW), motion amplitude (MA), and CTV size changes. To fulfill the objectives, experimental and computational studies have been designed and performed. A custom-made phantom with rectangle- and pyramid-shaped targets (CTVs) on a moving platform was scanned for four-dimensional imaging. Various GWs were selected and image integration was performed to generate targets (internal target volume or ITV) for planning that included the CTVs and internal margins (IM). The planning was done conventionally for the rectangle target and IMRT optimization was done for the pyramid target. Dose evaluation was then performed on a diode array aligned perpendicularly to the gated beams through measurements and computational modeling of dose delivery under motion. This study has quantitatively demonstrated and analytically interpreted the impact of residual motion including penumbral broadening for both targets, perturbed but secured dose coverage on the CTV, and significant doses delivered in the neighboring normal tissues. Dose volume histogram analyses also demonstrated and interpreted the trend of dose coverage: for ITV, it increased as GW or MA decreased or CTV size increased; for IM, it increased as GW or MA decreased; for the neighboring normal tissue, opposite trend to that of IM was observed. This study has provided a clear understanding on the impact of the residual motion and proved that if breathing is reproducible gRT is secure despite discontinuous delivery and target motion. The procedures and computational model can be used for commissioning, routine quality assurance, and patient-specific validation of gRT. More work needs to be done for patient-specific dose reconstruction on CT images.