• Title/Summary/Keyword: negatively associated

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Do Stock Prices Reflect the Implications of Unexpected Inventories for Future Earnings? (과잉 재고자산투자의 시장반응에 대한 실증연구)

  • Kim, Chang-Bum;Park, Sang-Bong
    • Management & Information Systems Review
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    • v.32 no.1
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    • pp.63-85
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    • 2013
  • This study tries to investigate the fundamental implications inherent in inventory asset information(specifically, unexpected inventory investment) by analyzing how the relationship between unexpected inventory investment and future operating performance. And we study how is the response of the stock market participants to the fundamental implications inherent in inventory asset information. Prior papers often assume the efficient market and they view the significant relation between stock prices and financial indicators as evidence of the contribution of such indicators to future earnings. Leading indicators are attracting the market's attention for equity valuation. We study whether one leading indicator (unexpected Inventories) forecasts future earnings, and whether market participants fully reflect the predictive ability when they sets share prices(Mishkin test, 1983). Our empirical results of the study are summarized as follows. Current unexpected inventory investment is negatively associated with future operating performance. Also, our evidence is that the stock market participants overprice the contribution of unexpected inventory investment when predicting future earnings. Furthermore, a hedge strategy that uses the overpricing gives significant future abnormal returns. The overall results help the users of financial reports, researchers of accounting, and the accounting principle setting body.

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An Empirical Study on the Determinants of Cash Holdings in Korean Shipping Firms (우리나라 해운물류산업의 현금보유수준과 결정요인에 관한 연구 : 국적외항선사를 중심으로)

  • Lee, Sungyhun
    • Journal of Korea Port Economic Association
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    • v.30 no.4
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    • pp.131-149
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    • 2014
  • The objective of this study is to describe and determine how and to what extent size of firm, operating vessels and interest cost, leverage, debit maturity, growth opportunity and cash flow affect the cash holdings of Korean shipping companies. A sample of 38 Korean shipping firms for a period of 9 years(from 2005 to 2013) was selected. In panel data regression, this study finds that cash holdings are negatively affected by firm size, operating vessel size and debit maturity, and positively affected by volume of interest costs. In firm's group of relatively large volume of operating vessel, it's cash holdings are affected by debit maturity, cash flows and growth opportunity but in firm's group of small volume of it, interest cost, debit maturity and operating vessel's size are related with cash holdings. It proved that determinants of cash holdings in a high interest costing group are size of operating vessel, interest cost and debt maturity. On the other hand, debit maturity, growth opportunity, firm size and extent volume of vessels are associated with cash holdings in relatively row interest costing group.

Correlation between Pulse-respiration Ratio and Heart Rate Variability (맥솔(脈率)과 심박변이도(心搏變移度)의 상관성(相關性) 연구(硏究))

  • Yang, Dong-Hoon;Park, Young-Bae
    • The Journal of the Society of Korean Medicine Diagnostics
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    • v.10 no.2
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    • pp.104-120
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    • 2006
  • Background : Pulse-respiration ratio has been used for estimating subject's status in oriental medicine. Pulse and respiration is strongly associated with autonomic nerve system. But there is no research about correlation between pulse-respiration ratio and autonomic nerve system. Objectives : We performed this study to know correlation between pulse-respiration ratio and HRV(heart rate variability) that shows autonomic nerve system status well and to clarify clinical meaning of pulse-respiration ratio. Methods : After subject's 10 minutes rest, we measured subject's ECG, respiration pattern and HRV. In this research, subject's number is 95(Male 50/Female 45). We calculated pulse-respiration ratio from ECG and respiration pattern. Then, we analyzed correlation between pulse-respiration ratio and HRV parameters in all subjects, 2 group divided by Wan-Maek(P-R ratio 4.28). We tried to compare HRV parameters among Wan-Maek, Sak-Maek and Ji-Maek group. Correlation analysis between pulse-respiration Ratio and Pulse rate, respiration rate is performed. Finally correlation analysis between Respiration and HRV parameters in all subjects, 2 group divided by Wan-Maek(4.28) is studied. Results : 1. Mean pulse-respiration is 4.10${\pm}$0.67, Mean pulse rate is 68.06${\pm}$7.82bpm, Mean respiration rate is 16.81${\pm}$2.72 times per minute in all subjects. 2. Correlation analysis between pulse-respiration ratio and HRV parameters of high pulse-respiration ratio group is not significant. But, in low pulse-respiration ratio group, HFnorm(correlation coefficient 0.306, p= 0.018), lnHF (0.308, p=0.002) is significantly correlated with pulse-respiration ratio. 3. Comparison of HRV parameters among Wan-Maek, Sak-Maek and Ji-Maek Group is not significant. 4. Pulse-respiration ratio is more affected by respiration rate(correlation coefficient-0.17, p=0.000) than pulse rate (correlation coefficient 0.396, p=0.000). 5. Correlation analysis between respiration rate and HRV parameters of high pulse-respiration ratio group is not significant. But, in low pulse-respiration ratio group, HFnorm (correlation coefficient -0.327, p=0.011), LF/HF(0.346, p=0.007), lnHF (-0.355, p=0.006) are significantly correlated with respiration rate. Conclusion : Pulse-respiration ratio and parasympathetic index has positive correlation. The closer Wan-Maek, The higher parasympathetic index in low pulse-respiration ratio group. Respiration rate is more related with pulse-respiration ratio than pulse rate. Respiration is negatively correlated with autonomic parameters. And the slower respiration, the higher parasympathetic index in low pulse-respiration ratio group.

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Correlation between Regular mealtime, Oral health knowledge and Oral health of college students (대학생의 식사규칙성과 구강건강지식 및 구강건강 간의 관계)

  • Nam, Mi-Jung;Uhm, Dong-Choon
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.12 no.2
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    • pp.788-794
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    • 2011
  • The purpose of this study was to investigate the correlation between regular mealtime, oral health knowledge and oral health to prevent dental impairment of college students. This research design is correlation study. Data of 903 were collected from June 1 to June 30, 2010. Data were analyzed using the SPSS PASW Statistics 18.0 Program. More than 50% of respondents were the irregular mealtime. Higher percentage of correct answer in the oral health knowledge showed periodontal disease prevention(82.6%). There were a statistical significant in grade, major, smoking, drinking, and wishing for dental care between general characteristics and regular mealtime respectively(p<.05). Between general characteristics and oral health knowledge were a statistical significant in gender, age, grade, smoking, and dental checkup respectively(p<.05). On the other hand, there was a statistical significant wishing for dental care between general characteristics and oral health(p<.001). Regular mealtime was negatively associated with oral health(p<.01). Education for oral health should include regular mealtime, prohibit of smoking and alcohol, right toothbrushing and so on.

Characteristics of Joint Systems and Their Relationship with Groundwater System in the Nakdong River Mid-basin (낙동강 중류 유역의 단열계 특성 및 지하수계와의 관련성)

  • Kim, Deuk-Ho;Lee, Jong-Hyun;Park, Kyu-Tae;Kim, Seong-Chang;Choi, Yu-Mi;Seo, Yu-Ri;Noh, Gyung-Myung;Hamm, Se-Yeong
    • The Journal of Engineering Geology
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    • v.18 no.4
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    • pp.483-492
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    • 2008
  • The characteristics of joint system (joint orientation and density) were studied for Cretaceous sedimentary rocks in the Nakdong River mid-basin (Haman-Gun, Changnyeong-Gun, and Uiryeong-Gun areas), and were related with faults, river system, and groundwater usage in the study area. The joint system was classified into JI ($N90^{\circ}-110^{\circ}E$), J2 ($N0^{\circ}-35^{\circ}E$), and J3 ($(N0^{\circ}-35^{\circ}W$), and was dominant along N-S and E-W directions. The N-S trending joint system is dominant in Haman Formation in the eastern and western parts of the study area, while the E-W trending joint system is prevalent in Chilgok Formation in the central part. The joint system may be associated with the faults located in the eastern and western parts in the study area which are elongated to NNE-SSW direction. Additionally, the joint density is higher along the Nakdong River, indicating close relationship between E-W trending joints and the river. Daily groundwater discharge versus joint density shows weak positive relationship, and specific capacity versus joint density appears negatively related. This indicates that groundwater occurrence does not greatly rely on joint density.

Relationship between EI Ni o/Southern Oscillation and Drought in Korea (엘니뇨/남방진동과 한국의 가뭄과 관계)

  • Lee, Dong-Ryul
    • Journal of Korea Water Resources Association
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    • v.32 no.2
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    • pp.111-120
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    • 1999
  • The relationship between EI Nino-Southern Oscillation(ENSO) and drought in Korea is investigated using the cross correlation analysis. In this paper, Palmer Drought Severity Index(PDSI) is used as an index of drought and nine ENSO indicators are used. To obtain PDSI for Korea, the PDSI equation is derived using monthly precipitation and temperature in Korea. In addition, ENSO composite percentile analyses for PDSI, precipitation and streamflow in Korea are performed to verify the results of the cross correlation. Results of the cross correlation show that the link between drought in Korea and ENSO is statistically significant with 6% of the variance in PDSI for Korea explained by ENSO. The PDSI is negatively correlated with the equatorial Pacific Sea Surface Temperature and the Sea Level Pressure(SLP) at Darwin leading by about 16 months. However, the relationship of the PDSI with the Southern Oscillation Index and the SLP at Tahiti is positive correlation. The ENSO composite percentile analyses show that drought, precipitation and streamflow in Korea are associated with ENSO during 6 months from December of the ENSO ending year

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Variation of Flow and Filtration Mechanisms in an Infiltration Trench Treating Highway Stormwater Runoff (고속도로 강우유출수 처리를 위한 침투도랑에서 흐름조건에 따른 여과기작 및 효율분석)

  • Guerra, Heidi B.;Yu, Jianghua;Kim, Youngchul
    • Journal of Wetlands Research
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    • v.20 no.1
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    • pp.63-71
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    • 2018
  • The particle filtration mechanisms in an infiltration trench should be varying due to the different hydraulic conditions during stormwater runoff. The understanding of these variations associated with different filtration mechanisms and their effect on the particle removal efficiency is of vital importance. Therefore, a LID (Low Impact Development) system comprising of an infiltration trench packed with gravel and woodchip was investigated during the monitoring of several independent rainfall events. A typical rainfall event was divided into separate regimes and their corresponding flow conditions as well as filtration mechanisms in the trench were analyzed. According to hydraulic conditions, it was found out that filtration changes between vertical and horizontal flows as well as between unsaturated, saturated, and partially-saturated flows. Particle separation efficiency was high (55-76%) and was mainly governed by physical straining during the unsaturated period. It was then enhanced by diffusion during the saturated period (75-95%). When the trench became partially saturated at the end of the rainfall event, the efficiency decreased which was believed to be due to the existence of a negatively charged air-water interface which limited the removal to positively charged particles.

Community Classification and Successional Trends in the Natural Forest of Baekdudaegan in Gangwon Province -Focused on Hyangrobong, Odaesan, Seokbyeongsan, Dutasan, Deokhangsan and Hambaeksan- (강원지역 백두대간 천연림의 군집분류 및 천이경향 -향로봉, 오대산, 석병산, 두타산, 덕항산, 함백산 등을 중심으로-)

  • Hwang, Kwang-Mo;Lee, Jeong-Min;Kim, Ji-Hong
    • Journal of agriculture & life science
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    • v.46 no.4
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    • pp.41-55
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    • 2012
  • On the basis of vegetation data collected by point-centered quarter method in analysis in Baekdudaegan of Gangwon province in the area of Hyangrobong, Odaesan, Seokbyeongsan, Dutasan, Deokhangsan and Hambaeksan, the study was carried out to classify forest communities and to evaluate the successional trends. The classification method of cluster analysis was used to make various disordered forests into several common groups for 1,004 sample points all together. By clustering the forests in the six study areas were classified into 28 forest communities, which were subjected to aggregate 8 representative forest communities on the count of species composition and species diversity. They were Mesophytic mixed forest community, others deciduous forest community, Quercus mongolica (dominant) community, Q. mongolica (pure) community, Pinus densiflora - Q. mongolica community, P. densiflora community, Betula ermanii community and Q. mongolica - Pinus koraiensis community. The ecological outlook from the result indicated that P. densiflora community and P. densiflora - Q. mongolica community, which were located in Seokbyeongsan, Dutasan and Deokhangsan around 1,000m above the sea level showed lower species diversity index. On the contrary Mesophytic mixed forest community, others deciduous forest community which was located in Hyangrobong, Odaesan and Hambaeksan mostly in protected area and national park around 1,500m above the sea level displayed higher species diversity index. As the composition ratio of Q. mongolica within a certain community was decreased, the species diversity was generally increased, assumed that abundance of Q. mongolica might be negatively associated with species diversity in the national deciduous forest.

The Impacts of Childhood Trauma on Psychosocial Features in a Chinese Sample of Young Adults

  • Wang, Dandan;Lu, Shaojia;Gao, Weijia;Wei, Zhaoguo;Duan, Jinfeng;Hu, Shaohua;Huang, Manli;Xu, Yi;Li, Lingjiang
    • Psychiatry investigation
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    • v.15 no.11
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    • pp.1046-1052
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    • 2018
  • Objective The aims of the present study were to explore the occurrence of childhood trauma and importantly to determine the impacts of childhood trauma on psychosocial features in a Chinese sample of young adults. Methods A survey was carried out in a group of 555 university students by using Childhood Trauma Questionnaire (CTQ), Self-rating Depression Scale (SDS), Self-rating Anxiety Scale (SAS), Dysfunctional Attitudes Questionnaire (DAS), Eysenck Personality Questionnaire (EPQ), and Social Support Rating Scale (SSRS). The moderate-severe cut-off scores for CTQ were used to calculate the prevalence of childhood trauma, and then psychosocial features were compared between individuals with and without childhood trauma. Results A proportion of 18.6% of university students had self-reported childhood trauma exposures. Subjects with childhood trauma reported higher scores of SDS, SAS, DAS, and psychoticism and neuroticism dimensions of EPQ (t=4.311-5.551, p<0.001); while lower scores of SSRS and extraversion dimension of EPQ (t=-4.061- -3.039, p<0.01). Regression analyses further revealed that scores of SAS and DAS were positively (Adjusted B=0.211-0.230, p<0.05), while scores of SSRS were negatively (Adjusted B=-0.273- -0.240, p<0.05) associated with specific CTQ scores. Conclusion Childhood trauma is still a common social and psychological problem. Individuals with childhood trauma show much more depression, anxiety, distorted cognition, personality deficits, and lower levels of social support, which may represent the social and psychological vulnerability for developing psychiatric disorders after childhood trauma experiences.

Association between physical activity and health - related quality of life in Korean patients with COPD (만성폐쇄성폐질환의 신체활동수준과 삶의 질 간의 관련성)

  • Mok, Hyungkyun;Jo, Kyu-hee
    • The Journal of Korean Society for School & Community Health Education
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    • v.20 no.1
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    • pp.15-27
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    • 2019
  • Objective: Patients with COPD have a lower overall quality of life than normal people. If patients with COPD do not regularly perform physical activities, their exercise capacity is reduced. It could lead to muscle loss, and negatively affect their general physical, social, and psycho-social status. The purpose of this study was to examine association with physical activity, sedentary life time and health-related quality of life in patients with COPD. Method: Of the total of 22,948 participants surveyed in Korean National Health and Nutrition Examination Survey (KNHANES 2013-2015), 8,626 participants were used for this study. Of these, under 40 years, over 80 years, missing values and abnormal values were excluded. Study variables included physical activity level, sedentary time and health-related quality of life variables. The physical activity level assessment tool was measured using International Physical Activity Questionnaire (IPAQ). Sedentary time referred to the amount of sitting time without moving the body. EQ-5D (Euro Quality of Life-5 Dimensions) was used as an index of health-related quality of life. Control variables were age, gender, income level, education level, marital status, comorbidity, smoking, BMI, cough, sputum, COPD severity. For this study, descriptive analysis, T-test, ANOVA and multivariate regression analysis were performed. Results: Of the 1,092 patients with COPD, 76.1% (n=831) were male and 23.9% (n=261) were female, while 39.0% (n=2,939) were male and 61.0% (n=4,595) were female in the comparison group without COPD. The COPD group with high level of physical activity showed a high level of EQ-5D scores ($0.9349{\pm}0.11$, p <0.001). Among patients with COPD, after adjusting for control variables, physical activity and sedentary time (physical activity level, Β=0.047, p <.001), (sedentary time, Β=-0.017, p <.05) were associated with health-related quality of life. Conclusion: Patients with COPD have a higher quality of life as their physical activity increases and the quality of life decreases as the time spent sitting increases. This study suggests that public health experts should consider improving COPD patient physical activity.