• Korean Business Review
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• v.11
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• pp.241-253
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• 1998

One form of the anomalies of stock price changes as reaction to earnings information is believed to be caused by the so-called earnings fixation, which is the overreaction of stock prices to earnings. According to the Sloan (1996) study, stock price changes are positively associated with earnings at the time of earnings releases, but the association becomes negative after that, as the early overreaction is corrected. However, the problem in his study is to use cash flows computed by adjusting earnings with appropriate income statement and balance sheet items. As Bahnson et al. (1996) show, these cash flows substantially deviate from SFAS No. 95 cash flows and the sample used in this study is found to be subject to this substantial measurement error. Therefore, the result of Sloan might be driven by this error and the reexamination of earnings fixation is warranted. The results are generally consistent with those in Sloan. First, earnings is positively associated with stock price changes at the time of earnings releases, but the association becomes negative after that. Second, cash flows show a weak association with stock price changes at the time of earnings releases, but the association become stronger thereafter. Third, when seperated from cash flows, accruals have an incremental explanation about stock price changes beyond that of cash flows, accruals have a negative association later on. This finding is consistent with stock price overreaction to accruals, even when more cleaner cash flow data are used.

• Journal of the Institute of Electronics Engineers of Korea SP
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• v.42 no.5 s.305
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• pp.29-40
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• 2005

According as base of digital hologram has been magnified, discussion of compression technology is expected as a international standard which defines the compression technique of 3D image and video has been progressed in form of 3DAV which is a part of MPEG. As we can identify in case of 3DAV, the coding technique has high possibility to be formed into the hybrid type which is a merged, refined, or mixid with the various previous technique. Therefore, we wish to present the relationship between various image/video coding techniques and digital hologram In this paper, we propose an efficient coding method of digital hologram using standard compression tools for video and image. At first, we convert fringe patterns into video data using a principle of CGH(Computer Generated Hologram), and then encode it. In this research, we propose a compression algorithm is made up of various method such as pre-processing for transform, local segmentation with global information of object image, frequency transform for coding, scanning to make fringe to video stream, classification of coefficients, and hybrid video coding. Finally the proposed hybrid compression algorithm is all of these methods. The tool for still image coding is JPEG2000, and the toots for video coding include various international compression algorithm such as MPEG-2, MPEG-4, and H.264 and various lossless compression algorithm. The proposed algorithm illustrated that it have better properties for reconstruction than the previous researches on far greater compression rate above from four times to eight times as much. Therefore we expect that the proposed technique for digital hologram coding is to be a good preceding research.

• Journal of Forest and Environmental Science
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• v.8 no.1
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• pp.21-33
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• 1992

This study was performed to investigate the hardness of wood related to the wood surface, sap and heartwood, early and latewood, specific gravity, annual ring width and moisture content on major Korean tree species such as Pinus koraiensis, Abies holophylla, Larix leptolepis and Quercus valiabilis. The results were summarized as follows: 1. The arithmetic mean values of wood hardness on cross section were respectively $8.0kg/mm^2$ on Quercus valiabilis, $7.4kg/mm^2$ on Larix leptolepis, $5.1kg/mm^2$ on Pinus koraiensis and $4.7kg/mm^2$ on Abies hollophylla. 2. Generally hardness of wood on cross section was greater than the others and the proportion of cross section hardness to radial was respectively 2.8 on Quercus valiabilis, 2.6 on Larix leptolepis, 3.8 on Pinus koraiensis, and 4.1 on Abies holophylla and that proportion was tend to be decrease as specific gravity increased. 3. It was recognized that the hardness of sap and heartwood was different from each of the tree species and generally heartwood hardness was somewhat greater than sapwood. 4. Generally latewood hardness with in a ring was greater than earlywood and the proportion of earlywood hardness to latewood decreased as specific gravity increased. 5. The relations between hardness of wood and specific gravity show a high positive correlation on all sample tree species. 6. The values of hardness decreased with increasing annual ring width. 7. Hardness of wood on Abies holophylla was greatest in oven dried wood and it was decreased as moisture content increased, but not changed with moisture content abve F.S.P.. The proportion of oven dried wood hardness to green are respectively 3.0 on cross, 2.4 on radial and 1.9 on tangential section.

• The Korean Journal of Ecology
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• v.26 no.4
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• pp.189-197
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• 2003

Properties of seed production in Corydalis, spring ephemeral, group were studied during two years at Namhansansung area. Corydalis´ flower was out in the early April and its seed dispersed in the early May. The period of total seed production was 30 days. The decrease rate of sex organs was the highest between deflowering time and early fruiting time. The numbers of flower and seed per plant were in the range of 1∼13 and 0∼76, respectively. And the number of seed per fruit was from zero to twenty. In a plant, seed production was the most (11.8 seeds) in the lowest fruit and conspicuously decreased along the upward fruit. In the same plant, seed production was various by each year. The plants of small tuber size produced more seeds and those of large tuber size produced fewer seeds in the next year than this year. In the early growth season, the flowering plants/total plants rate increased in proportion to plant size (tuber volume), the rate of the smallest size class (<100 ㎣) was in the range of 5.0%(1999)∼5.4%(2000), those over the 600 ㎣ size classes were 100%. The number of flower per plant at the same size class were higher in 2000 than in 1999. Especially, at the size class of 900 ㎣≤, the numbers of flower per plant were 13.2 in 2000 and 6.5 in 1999. In the late growth season, the flowering plants/total plants rates were 13.3%in the smallest size class (<100 ㎣)and 100% over the 500 ㎣ size classes. Therefore, the flowering plants/total plants rates along the size classes were higher in the late growth season than in the early one. The bumer of fruit or seed per plant increased in proportion to the volume and dry weight of tuber, there was not significant and varied along each plant in the same size class. The number of fruit or seed per plant conspicuously increased in proportion to the leaf area. Therefore, it was thought that seed production was related to photosynthetic ability during growth season.

• 한국지구과학회:학술대회논문집
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• 2010.04a
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• pp.88-89
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• 2010

최근 인간의 활동범위와 영역이 확대되고 산업이 발전하면서 인간의 삶과 지속가능한 발전 등 도시 기후에 관한 관심도 높아지고 있다. 산업혁명 이후 도시화와 산업화로 인해 인구가 증가하고 도시지역으로 집중됨으로써 도시 열섬화 현상에 대한 도시환경문제가 부각되고 있다. 이는 최근까지도 도시개발에 있어서 기능과 효율성이 우선시 되어 도시기후에 대한 배려가 이루어지지 못하고 있으며, 오히려 과도한 냉난방을 가동하는 등 쾌적한 실내 환경 조성을 위한 노력만을 행해왔다. 도시화에 따른 도시의 열환경 구조의 변화는 토지이용의 변화에 따른 피복상태와 밀접한 관련이 있다는 연구들이 수행된 바 있다. 이렇듯 도시화가 진행됨에 따라서 도심 지표면을 덮고 있는 포장재도 변하고 있다. 대표적인 토지피복재로는 콘크리트와 아스팔트 등의 인공포장재, 수계, 삼림 등으로 크게 나누어 볼 수 있다. 최근 도심의 발달로 인해 도심의 표면은 점차 인공포장재인 아스팔트와 콘크리트로 덮여지고 있다. 인공포장재는 맑은 여름철 낮에 받아들인 열을 야간에도 머금고 있어 도시열섬현상의 주요원인이 된다. 도시화가 진행됨에 따라 토지이용형태가 변화하고 있으며 이러한 토지피복의 변화는 그 지역의 기온과 풍향, 풍속뿐만 아니라 지표온도도 변화시키므로 도시 열환경 구조에 적지 않은 영향을 미치고 있다. 과거에는 자연 환경과 도시공간에 대한 인식이 다른 분야로 나누어져서 다루었지만 현재 위성영상 기술의 발달로 많은 공간 정보를 파악할 수 있게 된 바 도시기후변화에 더욱 직접적이고 근본적인 접근이 쉬워졌다. 원격탐사기법의 활용은 위성자료를 이용하여 동시간대 평면적인 열구조를 정량적으로 파악하는데에 중요한 자료를 제공하여 도시지역을 덮고 있는 인공자재의 존재가 도시열섬의 형성과 밀접하게 연관이 있다는 사실을 짐작할 수 있다. 따라서 도시기후변화의 문제점을 더욱 적극적으로 해결하기 위해서는 토지이용에 따른 지표면 온도 상승의 현황을 파악하고 이를 저감 시킬 수 있는 대책들이 수립되어야 한다. 본 연구는 보다 세분화된 도시 열환경을 정량적으로 분석 평가하기 위해서 토지피복별 분류를 3가지로 대구시 중구 경북대학교 부속 고등학교(이하 사대부고 지점)를 도심지역으로, 경상남도 창녕군 창녕읍 우포늪(이하 우포지점)을 수계지점으로, 경상북도 안동시 길안면 만음리(이하 안동지점) 지점과 대구시 칠곡군 동명면 득명리 팔공산 한티재 도립공원(이하 팔공지점)을 산림으로 분류하여 연구하였다. 대구 계명대학교 기후환경연구실에서 보유하고 있는 AWS(Automatic Weather Station) 자료로 기상요소를 분석하였으며, MODIS Terra 위성영상을 이용하여 지표온도를 추출하고 분석하였다. 또 기상요소와 지표온도를 이용해 회귀식을 도출하여 추정기온을 산출하였다. 그 결과 첫째, 계절에 따른 기온의 시간변화는 여름의 평균기온이 $25.13^{\circ}C$와 $24.12^{\circ}C$로 사대지점과 우포지점의 평균기온이 가장 높게 나타났으며, 이는 도심에서 발생되는 인공열의 영향으로, 우포지점은 수계의 특징이 반영된 결과라 할 수 있다. 둘째, 계절에 따른 풍속의 시간변화는 여름의 경우 우포지점의 풍속이 1.63m/s로 가장 높은 반면 안동지점의 풍속이 0.27m/s로 가장 낮은 것으로 나타났다. 겨울의 경우 팔공지점의 풍속이 1.82m/s로 가장 높게 나타났다. 토지피복에 따른 지표면의 변화가 도시기후에 미치는 영향을 정량적으로 평가하고, 또 지표면 온도와 기온과의 차이를 알아보기 위하여 MODIS 위성 영상을 이용하여 세 지점을 대상으로 토지피복에 따른 열환경을 평가 분석하여 다음과 같은 결론을 얻을 수 있었다. 첫째, MODIS 위성영상을 이용하여 산출한 지표면 온도는 여름철 주간에 안동지점의 경우 주변지역에 비해 지표면 온도가 약 $26^{\circ}C$로 낮게 나타났으며 우포지점의 경우 수계가 가지는 열 완충능력으로 약 $27^{\circ}C$의 낮은 지표면 온도를 나타내었다. 사대지점의 경우 약 $34^{\circ}C$이상의 높은 지표면 온도를 나타내었다. 둘째, MODIS 위성영상을 이용하여 산출한 지표면 온도와 관측된 기온과의 회귀식을 도출하여 상관분석 한 결과, 모든 지점의 값에서 상관성 및 신뢰도가 높은 것으로 나타났다. 셋째, 상관분석의 결과를 통하여 추정한 기온은 지표면 온도와의 차이가 있지만 유사한 패턴의 결과로 추출되었다. 이러한 결과로 볼 때 도시의 인공자재를 이용한 건축과 개발이 도시열섬현상을 유발하는데 중요한 역할을 하는 것을 정량적으로 평가할 수 있었다. 따라서 본 논문의 연구결과를 바탕으로 도시계획에 있어서 인공구조물에 의한 기온과 풍속이 받는 영향을 고려하여 도심의 인공구조물의 배치나 자재에 대한 개발이 이루어져야 할 것이며 열교환의 방해 및 바람순환이 확보되는 구조로 개선되어야 할 것이다.

• The Korean Journal of Financial Management
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• v.22 no.1
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• pp.71-91
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• 2005

The object or this paper is to analyze the rollover effect on KOSPI 200 index option prices. Especially we analyze the implied volatilities of the options that became the near maturity options as the old one expired. For this analysis, a panel data of KOSPI 200 Index Option Prices from year 1999 to year 2001 were used, and following results were obtained. First, after controlling for the underlying index returns, strike prices and other pricing factors, the call option prices tend to decrease while the put option prices tend to increase during the week of expiry. Second, if one concentrates on the daily price changes, call option prices tend to go up on Thursday (as the old options expire), and then experience a price decrease on the following day, while the reverse is true for the put options. These results imply that the option prices are affected by some of the market micro-structure effects such as whether the option is the near maturity option. We conjecture that the reason for this is related to the undervaluation of KOSPI 200 futures. The results from this paper have implications on the timing of option trades. If one wants to buy put options, and/or sell call options, he has better off by executing his intended trades before the old options expire. On the other hand, if one wants to buy call options, and/or sell put options, hi has better off by executing his intended trades after the expiry.

• Journal of the Economic Geographical Society of Korea
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• v.1 no.1
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• pp.151-172
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• 1998

Over the past two decades, the process of globalization of multinational corporations has increased at a rapid rate. One manifestation of this process is the establishment of corporate head offices in a variety of international centers to administer and coordinate, the day-to-day operations in the host countries. In establishing a subsidiary overseas a firm creates a direct link between the operations of the domestic corporate center and the foreign host center This paper investigates elements of stability and change in the international linkage patterns among domestic parent corporations and host subsidiaries over the past several decades. In particular, it seeks answers to a number of question related to stability and change in linkages among foreign centers of control and those Canadian centers selected to administer the subsidiary operations from 1970 to 1991 over the four primary sectors, namely, resources, manufacturing, services, and finance. By confirming the core stability and dispersed linkages hypotheses, the papar offers some generalizations with respect to the location and stability of subsidiary headquarters centers in Canada and their respective subsector specialties. Finally, it addresses further research avenues fer the quaternary place study.

• Maxillofacial Plastic and Reconstructive Surgery
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• v.28 no.5
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• pp.404-416
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• 2006

Purpose : This study was to clarify the changes in mandibular condyle after unilateral mandibular distraction osteogenesis throughout histological changes and expression of matrix metalloproteinase-2 (MMP-2) and tissue inhibitor of matrix metalloproteinase-2 (TIMP-2). Materials & Methods : Intraoral distractors were placed via submandibular incision in 8 dogs. Two unoperated animals served as controls. Distraction was performed five days after osteotomy as a rate of 0.5 mm twice per day for 10 days. Two animals were sacrificed on 7, 14, 28, and 56 days after completion of distraction, respectively. Ipsilateral condyles were harvested and processed for histological and immunohistochemical examinations. Results : The condyle cartilage is separated into four layers: fibrous layer, proliferative layer, hypertrophic layer, and calcified layer. At 7 days and 14 days after distraction, the condylar cartilage showed the decreased thickness of the articular cartilage and reduced cellularity. At 28 days after distraction, there was an increase in cellularity of fibrous, proliferative, and hypertrophic layer. However, it demonstrated reduced cellularity compared to the control. At 56 days of after distraction, the articular cartilage was an almost normal histologic structure. Positive Safranin-O staining, indicative of sulfated proteoglycans, was examined in the condylar cartilge of nonloaded control. At 7 days and 14 days after distraction, the sulfated proteoglycans is almost completely depleted from the noncalcified part of the condylar cartilage. At 28 days after distraction, there was an increase in Safranin-O staining intensity. However, the staining intensity of the experimental condyle was weaker than that of the control. At 56 days of after distraction, the condylar cartilage showed almost normal Safranin-O staining pattern. In control condyle, MMP-2 immunostaining was seen in fibrous, proliferative, and hypertrophic layer of condylar cartilage, however, it demonstrated lack of staining in fibrous and proliferative layer. At 7 days and 14 days after distraction, strong MMP-2 immunoreactivity was seen in the fibrous, proliferative and hypertrophic layer of the condylar cartilage. At 28 days after distraction, MMP-2 immunostaining was seen in the fibrous and hypertrophic layer of condylar cartilage, however, their immunoactivity was reduced. At 56 days after distraction, MMP-2 immunoreactivity showed almost normal immunostaining pattern. In control condyle, TIMP-2 immunostaining was primarily seen in fibrous and hypertrophic layer of condylar cartilage, however, it demonstrated lack of staining in proliferative layer. At 7 days after distraction, very weak TIMP-2 immunoreactivity appeared in fibrous, proliferative and hypertrophic layer of the condylar cartilage. At 14 days after distraction, weak TIMP-2 immunoreactivity was seen in the fibrous, proliferative and hypertrophic layer of the condylar cartilage. At 28 days after distraction, TIMP-2 immunoreactivity was increased in the fibrous and hypertrophic layer of condylar cartilage. At 56 days after completion of distraction, TIMP-2 immunoreactivity showed almost normal immunostaining pattern. Conclusions : The results show that short-term outcome of physiologic distraction osteogenesis may lead to degenerative changes in the condylar cartilage. These alterations in the condylar cartilage may be considered as a pressure-related degeneration of the cartilage tissue. However, the long-term results suggest that the condylar cartilage display repair activity after mandibular distraction osteogenesis.

• Journal of Oral Medicine and Pain
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• v.32 no.2
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• pp.137-150
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• 2007

Trees emit phytoncide into atmosphere to protect them from predation. Phytoncide from different trees has its own unique fragrance that is referred to as forest bath. Phytoncide, which is essential oil of trees, has microbicidal, insecticidal, acaricidal, and deodorizing effect. The present study was performed to examine the effect of phytoncide on Porphyromonas gingivalis, which is one of the most important causative agents of periodontitis and halitosis. P. gingivalis 2561 was incubated with or without phytoncide extracted from Hinoki (Chamaecyparis obtusa Sieb. et Zucc.; Japanese cypress) and then changes were observed in its cell viability, antibiotic sensitivity, morphology, and biochemical/molecular biological pattern. The results were as follows: 1. The phytoncide appeared to have a strong antibacterial effect on P. gingivalis. MIC of phytoncide for the bacterium was determined to be 0.008%. The antibacterial effect was attributed to bactericidal activity against P. gingivalis. It almost completely suppressed the bacterial cell viability (>99.9%) at the concentration of 0.01%, which is the MBC for the bacterium. 2. The phytoncide failed to enhance the bacterial susceptibility to ampicillin, cefotaxime, penicillin, and tetracycline but did increase the susceptibility to amoxicillin. 3. Numbers of electron dense granules, ghost cell, and vesicles increased with increasing concentration of the phytoncide, 4. RT-PCR analysis revealed that expression of superoxide dismutase was increased in the bacterium incubated with the phytoncide. 5. No distinct difference in protein profile between the bacterium incubated with or without the phytoncide was observed as determined by SDS-PAGE and immunoblot. Overall results suggest that the phytoncide is a strong antibacterial agent that has a bactericidal action against P. gingivalis. The phytoncide does not seem to affect much the profile of the major outer membrane proteins but interferes with antioxidant activity of the bacterium. Along with this, yet unknown mechanism may cause changes in cell morphology and eventually cell death.

• Journal of the korean academy of Pediatric Dentistry
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• v.33 no.2
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• pp.290-303
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• 2006

Tooth eruption is a complex and tightly regulated process that involves cells of the tooth organ and the surrounding alveolus. Osteoclast precursors must be recruited into the dental follicle prior to the onset of eruption. This function of dental follicle may be regarded as the ability of bone remodeling characterized by the interaction of osteoclasts and osteoblasts. This is because tooth eruption is a localized event in which many of the genes required for eruption are expressed in the dental follicle. RANKL is a membrane-bound protein that is a member of the TNF ligand family. which is present on bone marrow stromal cells and osteoblasts, and induces osteoclast formation and activation from precursor cell. The biologic effect of RANKL is inhibited by OPG and, in bone, the relative ratio of RANKL and OPG modulates osteoclastogenesis. To evaluate the roles of RANKL and OPG in tooth eruption and the relations with the expression pattern of Runx2, in situ hybridization was performed with mandibles of mice at postnatal stage 1, 3, 5, 7, 9 and 11. mRNA of RANKL, OPG, and Runx2 are expressed in dental follicle and surrounding tissue from P1 to 11. To determine the sites of osteoclastic activity during tooth eruption, mandibles were dissected. Peak osteoclastic activity in alveolar bone along the occlusal and basal regions was observed from P5 to 9, with osteoclasts in these regions being large and strongly TRAP-positive The specific spatio-temporal expression patterns of RANKL, OPG, and Runx2 in our study suggest that tooth eruption could be progressed through the interactions of molecular signaling among dental follicle, dental organ and alveolar bone, furthermore it means that dental follicle is quite important in tooth eruption In addition, it indicates that these genes (RANKL, OPG, and Runx2) play critical roles in tooth eruption.