• The Korean Journal of Financial Management
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• v.23 no.2
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• pp.171-187
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• 2006

This paper investigates the pricing information transmission between NYSE listed Chinese ADRs and their underlying shares by using GJR. The data in this study consist of daytime and overnight returns on 7 chinese stocks End their ADRs on the NYSE for the period from December 2002 to december 2005. We have round that the home market leadership hypothesis can be applied to the Chinese stocks. We have also found that return spillover effect is stronger than volatility spillover effect.

• Asia Pacific Journal of Business Review
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• v.1 no.2
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• pp.1-16
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• 2017

The fundamental goal of the research was to verify if the Twin Deficits Hypothesis holds for the economy of Zambia using time series data from 1980-2014. The current account and budget deficit were employed as key variables. The exchange rate was also used as a transmission mechanism to see how it contributes in the nexus. Cointegration tests confirmed a long run association of the variables. After fitting the VECM model, Granger causality tests confirmed the existence of twin deficits for Zambia. The results supported uni-directional reverse causality. The exchange rate was shown to be more significant in the long run than in the short run. The implosion of the time series as shown by the predicted cointegration equation implies that unless drastic measures are taken to cure the deficits, using the current account as the major target variable, twin deficits will persist for some time. The major policy implication of this research is that given that Zambia is a primary commodity-dependent developing country subsisting largely on copper revenues to sustain the economy, there is a need to move away from "copper addiction," given the recent volatility of earnings of primary commodities (e.g. through diversification of the economy, import substitution, and other strategies).

• Corrosion Science and Technology
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• v.7 no.5
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• pp.283-287
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• 2008

The drag reduction agency (DRA) for gas pipeline, a novel method used for reducing friction or drag on a gas flowing to increase the transmission efficiency of gas pipeline, is a more flexible and economical technology than internal flow efficient coatings. In this paper, an effective DRA has been developed in Authors' Institute by analyzing the hydrodynamic friction resistance on internal gas pipeline and then studying the work mechanism and molecular structure of DRA. In the meantime, a group of property test for selecting DRA material has been determined, including viscosity, contact angle, volatility, corrosion, slab extending, and flow behavior in horizontal tube. The inhibition efficiency and drag reduction efficiency of the developed DRA have been investigated finally based on the relevant test methods. Results of corrosion test show that the developed DRA has very good inhibition effect on mild steel by brushing a thin layer of DRA on steel specimens, giving inhibition efficiency of 91.2% and 73.1% in 3%NaCl solution and standard salt fog environment respectively. Results of drag-reducing test also show that the Colebrook formula could be used to calculate friction factors on internal pipes with DRA as the Reynolds number is in the range of $0.75\times10^5\sim2.0\times10^5$. By comparing with normal industrial pipes, the friction resistance coefficient of the steel pipe with DRA on internal wall decreases by 13% and the gas flux increases by 7.3% in testing condition with Reynolds number of $2.0\times10^5$.

• The Journal of the Korea institute of electronic communication sciences
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• v.13 no.2
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• pp.357-368
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• 2018

For well over 100 years, oil has enabled remote communities to generate electricity and enjoy the benefits of a consistent electrical supply. Relying solely on oil for electricity generation has left island and remote communities exposed to several risks and drawbacks. Oil-based electricity generation is often more expensive and subject to price volatility, which can result in the use of risky fuel hedging strategies. The residents of islands and remote communities express concern over the future impacts of climate change or insist on their opinions for the corresponding action with reduction of carbon emissions. These risks and drawbacks can be overcomed with continuing cost reductions in solar, wind, and energy storage technologies by maker. Reducing costs is not always a straightforward process, relying on more diversely and renewably arranged renewable energy sources led to reduced local construction cost in every situation reviewed in this study. In this paper, a convenient and simple design solution which will facilitate the optimum location and transmission route of renewable energy facility using GIS(Geographic Information System) is proposed. The suggested solutions exercised to the case of geomoon island using GIS and identified by local site survey.