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한국시장과 일본시장에서 거래제도가 주가행태에 미치는 영향 비교 연구

  • Kim, Gyeong-Won
    • The Korean Journal of Financial Studies
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    • v.8 no.1
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    • pp.207-230
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    • 2002
  • 본고에서는 한국의 증권시장과 일본의 증권시장이 같은 공매시장(Auction markets)의 형태라도 거래되는 시점에 따라 다른 거래제도에 따라 가격이 결정되는 점도 있어 각 시점별로 양 시장의 주가행태를 가격조정모형을 통하여 비교 분석하였다. 일반적으로 한국과 일본 모두 오전 시가 수익률의 분산이 종가 수익률에서의 분산보다 크고 또한 오전 시가 수익률의 분산이 다른 시점의 수익률의 분산 보다 켰다. 한국 및 일본 양 시장에서 시가수익률의 분산과 음의 시계열상관계수에서 공히 거래정지기간에 따른 노이즈 항목과 거래오류영향을 발견하였다. 그러나 한국시장에서 거래오류나 노이즈가 일본시장보다 큼을 알 수 있었다. 두 시장에서 모두 오전개장과 오후개장을 다른 시점과 비교하면 주가의 과다반응을 추정 할 수 있으나 일본시 장의 경우는 한국시장에서 보다 미미하였다. 한국시장의 경우 오후종가가 영과 통계학적으로 크게 다르게 양의 수를 가지고 있음은 시장의 효율성에서 한국시장이 일본시장에 비해 떨어지고 시장 정보에 대하여 주가의 가격조정속도가 늦다고 추정할 수 있었고 이는 한국시장이 아직은 일본에 비해 가격제한폭이나 그밖에 거래제한 요소가 일본보다 크기 때문으로 추정된다. 한국시장에서는 주식수익률의 변동성은 노이즈거래가설(Noise trading hypothesis)이 더 설명력이 있다고 추정되고 일본의 경우 사적정보가설(Private information hypothesis)과 노이즈거래가설(Noise trading hypothesis) 둘 다 설명력이 있지만 전자가 더 우위일 가능성이 있었다. 결론적으로 위의 결과를 종합하면 거래메커니즘 차이가 주가의 행태에 크게 다르게 미친다고는 할 수 없고 단지 주가의 정보전달 속도 및 노이즈 그리고 시장의 효율성에 따라 주가행태에 어느 정도 차이를 일으킨다고 할 수 있었다.

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A Numerical Study on the Similarity of Laminar Flows in Orthogonally Rotating Rectangular Ducts and Stationary Curved Rectangular Ducts of Arbitrary Aspect Ratio (임의의 종횡비를 가지는 수직축을 중심으로 회전하는 직관과 정지한 고고간 내부의 층류 유동의 유사성에 관한 수치적 연구)

  • Lee, Gong-Hee;Baek, Je-Hyun
    • Transactions of the Korean Society of Mechanical Engineers B
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    • v.26 no.6
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    • pp.842-849
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    • 2002
  • The present study showed that a quantitative analogy of the fully developed laminar flows inorthogonally rotating rectangular ducts and stationary curved rectangular ducts of arbitrary aspect ratio could be established. In order to clarify the similarity of the two flows, the dimensionless parameters $K_{LR}$ =Re/√Ro and Rossby number Ro= $w_{m}$/$\Omega$d in a rotating strait duct were used as a set corresponding to Dean number $K_{LC}$ =Re/√λand curvature ratio λ=R/d in a stationary curved duct. Under the condition that the value of Rossby number and curvature ratio was large enough, the flow field satisfied the ‘asymptotic invariance property’: there were strong quantitative similarities between the two flows such as friction factors, flow patterns, and maximum axial velocity magnitudes for the same values of $K_{LR}$ and $K_{LC}$ .

The Effects of Preschooler's Self-regulation and Maternal Parenting Behavior on Preschooler's Game Immersion (유아의 자기조절력과 어머니의 양육행동이 남녀 유아의 게임몰입성에 미치는 영향)

  • Kim, Kyoung-Hoe;Chung, Jee-Nha
    • Korean Journal of Human Ecology
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    • v.23 no.2
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    • pp.219-229
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    • 2014
  • The purpose of this study was to investigate the effects of preschooler's self-regulation and maternal parenting behavior on preschooler's game immersion. Subjects were 253 4- to 5-year-old preschoolers(118 boys, 135 girls) and their mothers. Data were analyzed by descriptive statistics, t-test, correlation analysis and stepwise multiple regression analysis. The major findings are summarized as follows: (1) preschooler's game immersion differed from preschooler's gender. Boy preschooler had higher score than girl preschooler in game immersion. (2) Both boy and girl preschooler's game immersion was negatively correlated with preschooler's behavioral regulation and emotional regulation, maternal rational guidance, limit-setting and affection. (3) The most influential factor on boy preschooler's game immersion was behavioral regulation. On the other hand, the most influential factor on girl preschooler's game immersion was emotional regulation, and the next influential factor was maternal affection. Results of this study indicate that self-regulation enhancement program should be developed and mothers should be more affective with their preschoolers in order to prevent preschoolers' game immersion.

A Numerical Study on the Similarity of the Developing Laminar Flows between in Orthogonally Rotating Square Duct and Stationary Curved Square Duct (수직축을 중심으로 회전하는 직관과 정지한 곡관 내부의 발달하는 층류 유동의 유사성에 관한 수치적 연구)

  • Lee G. H.;Baek J. H.
    • Journal of computational fluids engineering
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    • v.6 no.1
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    • pp.21-30
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    • 2001
  • A numerical study on the similarity of the developing laminar flows between in a straight duct rotating about an axis perpendicular to that of the duct and in a stationary curved duct was carried out. In order to clarify the analogy of two flows, dimensionless parameters K/sub LR/ = Re/(equation omitted) and Rossby number, Ro, in a rotating straight duct were used as a set corresponding to Dean number K/sub LC/ = Re/(equation omitted), and curvature ratio, λ, in a stationary curved duct. For the large values of Ro and λ, it is shown that the flow field satisfies the 'asymptotic invariance property', that is, there are strong quantitative similarities between the two flows such as flow patterns, friction factors, and maximum axial velocity magnitudes for the same values of K/sub LR/ and K/sub LC/ if they are correlated with dimensionless axial distances Z/sub R/ = z/(equation omitted) for a rotating duct flow and Z/sub C/ = z/(equation omitted) for a stationary curved duct flow.

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Ruptured Penetrating Atherosclerotic Ulcer of the Aortic Arch in a Patient with a Previous History of Replacing the Descending Thoracic Aorta (하행대동맥 수술의 기왕력을 가진 환자에서 발생한 대동맥궁 침투성 궤양의 파열)

  • Kim, Jae-Bum;Choi, Sae-Young;Park, Nam-Hee
    • Journal of Chest Surgery
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    • v.41 no.5
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    • pp.647-650
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    • 2008
  • Aortic disease usually recurs after aortic surgery in the form a new aneurysm distal to the previous operation site, and finding a penetrating atherosclerotic ulcer proximal to the previous operation site has rarely been reported. We report here on a case of successful patch repair of a ruptured penetrating ulcer in the distal aortic arch, and this developed late after replacement of the descending thoracic aorta.

Electronic Throttle Body Model Allowing for Non-linearity of DC Motor Driver (DC 모터 드라이버의 비선형성을 고려한 전자식 스로틀 바디 모델)

  • Jin, Sung-Tae;Kang, Jong-Jin;Lee, Woo-Taik
    • Transactions of the Korean Society of Automotive Engineers
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    • v.16 no.1
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    • pp.71-77
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    • 2008
  • This paper proposes an Electronic Throttle Body (ETB) model considering a non-linearity of DC motor driver which is integrated with a H-bridge and a gate driver. A propagation delay and reverse recovery time of switching components cause non-linear characteristic of DC motor driver. This non-linearity affects not only the amateur voltage of DC motor, but also entire behaviour and parameters of ETB. In order to analyze the behavior of ETB more accurately, this non-linear effect of DC motor driver is modeled. The developed ETB model is validated by use of the step response and ramp response experiments, and it shows relatively accurate results compared with linear DC motor driver model.

The Relationships Between Children's Temperament, Parental Modes of Verbal Control and Children's Self-control (유아의 기질 및 부모의 언어적 통제유형과 유아의 자기통제력간의 관계)

  • Chung, Ji-Young;Doh, Hyun-Sim;Choi, Mi-Kyung
    • Korean Journal of Child Studies
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    • v.26 no.6
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    • pp.305-319
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    • 2005
  • The subjects of this study were 210 fathers and mothers of 5-year-old preschoolers. Data were analyzed by correlation and regression. Results showed that "activity" was negatively related to children's self-control. Adaptability and rhythmics, however, were positively related to children's self-control in girl Mothers' imperative control was negatively but her position-oriented control and person-oriented control were positively related to the elf-control of boys. Mothers' position-oriented control and person-oriented control were positively related to the self-control of girls. but there were no significant relations found between mothers' imperative control and children's self-control Fathers' person-oriented control was related to the self-control of boys. Finally, both for boys and girls, "activity" was the most influential variable in children's self-control among the four sub-scales of temperament and parental modes of verbal control.

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Study on the Similarity of Laminar Flows between in Orthogonally Rotating Square Duct and Stationary Curved Squared Duct (수직축을 중심으로 회전하는 직관과 정지한 곡관내에서의 층류 유동의 유사성 비교)

  • Lee, Gong-Hui;Baek, Je-Hyeon
    • Transactions of the Korean Society of Mechanical Engineers B
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    • v.24 no.12
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    • pp.1683-1691
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    • 2000
  • In this study, it is numerically revealed that the secondary flow due to the Coriolls force in a straight duct rotating about an axis perpendicular to that of the duct is analogous to that caused by the centrifugal force in a stationary curved duct. Dimensionless parameters $K_{LR}=Re/\sqrt{Ro}$ and Rossby number in a rotating straight duct were used as a set corresponding to Dean number and curvature ratio in a stationary curved duct. When the value of Rossby number and curvature ratio is large, it is shown that the flow field satisfies the `asymptotic invariance property`, that is, there are strong quantitative similarities between the two flows such as friction factors, flow patterns, and maximum axial velocity magnitudes for the same values of $K_{LR}$ and Dean number.

A Study on Fatigue Assessment of the Crane Post due to Vibration during the Emergency Stop (충격하중에 의한 Jib Crane Post의 피로 수명 평가)

  • Kim, Kuk-Su;Kim, Nho-Seong
    • Proceedings of the Korean Society for Noise and Vibration Engineering Conference
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    • 2011.04a
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    • pp.633-637
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    • 2011
  • The tall and slender main crane is generally installed on the upper deck to load and unload the equipment or something heavy in the drilling rig or the ship. So the natural frequency of the crane equipment is very low, therefore, there is some possibility of excessive vibration at the emergency state due to sudden stop during the crane operation. This study describes a fatigue assessment due to heavy vibration during brake test of sudden stop because it is necessary the safety of crane is estimated against the heavy vibration. In order to find out the applied force, the vibration measurement and analysis have been performed.

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Investigation on the Characteristics of the Stationary Feed Motor Current (절삭력 간접측정을 위한 정계모터 전류의 특성 연구)

  • Jeong, Young-Hun;Kim, Seong-Jin;Cho, Dong-Woo
    • Journal of the Korean Society for Precision Engineering
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    • v.19 no.9
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    • pp.66-73
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    • 2002
  • Since cross-feed directional cutting force which is normal to machined surface directly influences the machined surface of the workpiece and total force loaded in cutter, it is necessary to estimate this force to control the roughness of the machined surface and total force in cutter. However, there have been difficulties in using the current existing in a stationary motor for cutting state prediction because of some unpredictable behavior of the current. Empirical approach was conducted to resolve the problem. As a result, we showed that the current and its unpredictable behavior are related to the infinitesimal rotation of the motor. Subsequently, the relationship between the current and the cutting force was identified with the error less than 50%. And, the estimation results of the two machine tools with different characteristics were compared to each other to confirm the validity of the presented estimation method and the characteristics of current of the stationary feed motor.