• Journal of Life Science
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• v.21 no.12
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• pp.1795-1803
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• 2011

Non-alcoholic fatty liver disease accompanies the rise in the prevalence of obesity, diabetes and the tendency toward high-fat dietary habits. Specifically, the higher prevalence of non-alcoholic fatty liver disease in men and postmenopausal women seems to be caused by the protective effects of estrogen against liver fibrosis, or lack thereof. There are no effective preventive therapies for liver diseases because the mechanisms underlying the progression of fatty liver diseases to chronic liver diseases and the protective effects of estrogen against fibrogenesis remain unclear. Recently, it has been reported that the hedgehog signaling pathway plays an important role in the progression of chronic liver diseases. Hedgehog, a morphogen regulating embryonic liver development, is expressed in injured livers but not in adult healthy livers. The level of hedgehog expression parallels the stages of liver diseases. Hedgehog induces myofibroblast activation and hepatic progenitor cell proliferation and leads to excessive liver fibrosis, whereas estrogen inhibits the activation of hepatic stellate cells to myofibroblasts and prevents liver fibrosis. Although the mechanism underlying the opposing actions of hedgehog and estrogen on liver fibrosis remain unclear, the suppressive effects of estrogen on the expression of osteopontin, a profibrogenic extracellular matrix protein and cytokine, and the inductive effects of hedgehog on osteopontin transcription suggest that estrogen and hedgehog are associated with liver fibrosis regulation. Therefore, further research on the estrogen-mediated regulatory mechanisms underlying the hedgehog-signaling pathway can identify the mechanism underlying liver fibrogenesis and contribute to developing therapies for preventing the progression of fibrosis to chronic liver diseases.

• Environmental and Resource Economics Review
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• v.15 no.2
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• pp.319-353
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• 2006

This paper shows how weather derivatives can be used to hedge against the price risk and volume risk of purchasing relatively large amounts of electricity. Our specific approach to designing new contracts for electricity is to focus on the return over a summer season rather than on the daily levels of demand and price. It is shown that correct market signals can be preserved in a contract and the associated financial risk can be offset by weather options. The advantage of combining a forward contract with a weather derivative is that the high prices on hot days or when the temperature is high reflect the underlying high cost of producing power when the load is high and that the combined contract with a weather derivative substantially reduces the volatility of the return.

• Journal of the Korean Data and Information Science Society
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• v.21 no.3
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• pp.447-459
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• 2010

The present study was carried out to summarize the effect of propolis in the diabetic rats by meta-analysis related studies. The association measure to test effect of propolis was Hedges's standardized mean difference between group of rats induced streptozotocin(STZ) or alloxan and group of rats induced STZ or alloxan treated with propolis about the considered 4 effect factors. In this particular fixed-effect model, blood glucose, Cholesterol, Triglyceride were significantly reduce. The case of heterogenous variable such as body weight, blood glucose, cholesterol, triglyceride, random-effect model was applied. In this model, blood glucose, triglyceride were decreased significantly in propolis treated group. According to the meta-regression analysis, period of injection was significant for body weight and blood glucose, cholesterol.

• 사회경제평론
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• no.38
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• pp.129-161
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• 2012

This paper suggests that, in contrast to main argument of Efficient Market Hypothesis, hedge funds's financial speculation activity in the commodity markets are tending to generate a malfunction of making future price diverge from fundamental price. For this reason, we insist that stricter regulation on commodity derivative markets, including position limitation, is needed. Using some statistic analysis tools, we show that derivative transaction volume is getting so larger that financial speculation by hedge funds dominates price movement in commodity market and eventually slackens the speed of price's return to the fundamental price.

• The Korean Journal of Financial Studies
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• v.2 no.1
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• pp.333-355
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• 1995

• Journal of Korean Electronics
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• v.28 no.12
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• pp.41-42
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• 2008

• Proceedings of the Safety Management and Science Conference
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• 2002.11a
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• pp.341-364
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• 2002

• The Korean Journal of Financial Studies
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• v.14 no.1
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• pp.15-39
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• 2008

본 연구에서는 미국, 영국, 한국 금융시장의 주식, 회사채, 국채, 부동산지수와 상품지수로 구성된 포트폴리오에서의 상품지수의 역할을 실증적으로 제시하고자 했다. 일반적인 금융상품으로만 구성된 포트폴리오와 상품지수가 포함된 포트폴리오의 수익률과 위험을 비교 분석하여 상품지수의 포트폴리오 구성요소로서의 타당성을 검증했다. 또한, 국가별 통화정책의 변화에 따라 분석기간을 긴축정책기와 확장정책기로 구분하여 그 성과를 비교함으로써 상품지수가 인플레이션 헤지수단이 될 수 있는지를 확인하고자 하였다. 미국과 영국의 경우 GSCI지수는 긴축기에 다른 금융자산에 비해 위험대비 수익률이 높아 포트폴리오 편입비중이 크며, 포트폴리오의 효율성을 높이는 것으로 분석되었다. 영국의 경우 환율을 적용하기 전과 후의 분석결과가 크게 상이하지 않으나, 한국의 경우 환율을 적용한 GSCI지수의 포트폴리오 편입비중은 미국, 영국시장과 유사한 결과를 보이나, 환율과 GSCI지수를 각각 독립적인 자산으로 편입하여 분석할 경우 그 효과는 미미한 것으로 나타났다. 즉, 환율을 적용하여 편입한 GSCI지수의 포트폴리오 수익률 상승효과 중 상당한 부분이 환율로 인한 것이며, 해외시장의 경우와 단순히 비교하기는 어렵다는 점이다. 따라서, 우리나라의 경우는 미국, 영국과 달리 환율을 적용한 상품지수가 인플레이션에 대한 헤지수단이 되나, 환율효과가 지배적이므로 상품지수 자체의 공헌도는 높지 않다고 평가된다.

• Journal of the Korean Data and Information Science Society
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• v.22 no.4
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• pp.717-726
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• 2011

The present study was carried out to summarize the effect of green tea in the diabetic rats by meta-analysis related studies. The association measure to test effect of green tea was Hedges' standardized mean difference. In this particular fixed effect model, body weight was significantly increased. Also, blood glucose, triglycerides were significantly decreased. In this case of heterogeneous variable, random effect model was applied. In this model, body weight was significantly increased. Also, blood glucose was significantly decreased in green tea treated group. According to the Meta-regression analysis, duration of injection was not significant for variables.

• The Korean Journal of Financial Management
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• v.26 no.2
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• pp.155-180
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• 2009

This study is to estimate and compare hedging effectiveness in emerging currency and advanced currency futures markets. Emerging currency futures includes Korea won, Mexico peso, and Brazil real and advanced currency futures is Europe euro, British pound, and Japan yen. Hedging effectiveness is measured by comparing hedging performance of the naive hedge model, OLS model, error correction model and constant condintional correlation bivariate GARCH(1, 1) hedge model based on rolling windows. Analysis data is used daily spot and futures rates from January, 2, 2001 to March. 10, 2006. The empirical results are summarized as follows : First, irrespective of hedging period and model, hedging using Korea won/dollar futures reduces spot rate's volatility risk by 97%. Second, Korea won/dollar futures market produces the best hedging performance in emerging and advanced currency futures markets, i.e. Mexico peso, Brazil real, Europe euro, British pound, and Japan yen. Third, there are no difference of hedging effectiveness among hedging models.