• Title/Summary/Keyword: 화학적 특성

Search Result 10,029, Processing Time 0.049 seconds

Evaluation of CH4 Flux for Continuous Observation from Intertidal Flat Sediments in the Eoeun-ri, Taean-gun on the Mid-western Coast of Korea (서해안 태안 어은리 갯벌의 연속관측 메탄(CH4) 플럭스 특성 평가)

  • Lee, Jun-Ho;Rho, Kyoung Chan;Woo, Han Jun;Kang, Jeongwon;Jeong, Kap-Sik;Jang, Seok
    • Economic and Environmental Geology
    • /
    • v.48 no.2
    • /
    • pp.147-160
    • /
    • 2015
  • In 2014, on 31 August and 1 September, the emissions of $CH_4$, $CO_2$, and $O_2$ gases were measured six times using the closed chamber method from exposed tidal flat sediments in the same position relative to the low point of the tidal cycle in the Eoeun-ri, Taean-gun, on the Mid-western Coast of Korea. The concentrations of $CH_4$ in the air sample collected in the chamber were measured using gas chromatography with an EG analyzer, model GS-23, within 6 hours of collection, and the other gases were measured in real time using a multi-gas monitor. The gas emission fluxes (source (+), and sink (-)) were calculated from a simple linear regression analysis of the changes in the concentrations over time. In order to see the surrounding parameters (water content, temperature, total organic carbon, average mean size of sediments, and the temperature of the inner chamber) were measured at the study site. On the first day, across three measurements during 5 hours 20 minutes, the observed $CO_2$ flux absorption was -137.00 to $-81.73mg/m^2/hr$, and the $O_2$ absorption, measured simultaneously, was -0.03 to $0.00mg/m^2/hr$. On the second day using an identical number of measurements, the $CO_2$ absorption was -20.43 to $-2.11mg/m^2/hr$, and the $O_2$ absorption -0.18 to $-0.14mg/m^2/hr$. The $CH_4$ absorption before low tide was $-0.02mg/m^2/hr$ (first day, Pearson correlation coefficient using the SPSS statistical analysis is -0.555(n=5, p=0.332, pronounced negative linear relationship)), and $-0.15mg/m^2/hr$ (second day, -0.915(n=5, p=0.030, strong negative linear relationship)) on both measurement days. The emitted flux after low tide on both measurement days reached a minimum of $+0.00mg/m^2/hr$ (+0.713(n=5, p=0.176, linear relationship which can be almost ignored)), and a maximum of $+0.03mg/m^2/hr$ (+0.194(n=5, p=0.754, weak positive linear relationship)) after low tide. However, the absolute values of the $CH_4$ fluxes were analyzed at different times. These results suggest that rate for $CH_4$ fluxes, even the same time and area, were influenced by changes in the tidal cycle characteristics of surface sediments for understanding their correlation with these gas emissions, and surrounding parameters such as physiochemical sediments conditions.

Development of Root Media Containing Pine Bark for Cultivation of Horticultural Crops (소나무 수피를 포함한 원예작물 재배용 혼합상토의 개발)

  • Park, Eun Young;Choi, Jong Myung
    • Horticultural Science & Technology
    • /
    • v.32 no.4
    • /
    • pp.499-506
    • /
    • 2014
  • This research was conducted to develop root media containing ground and aged pine bark (GAPB) and ground and raw pine bark (GRPB). After analysis of physico chemical properties, the pine barks were blended with peat moss (PM) or coir dust (CD) in various ratios to formulate 12 root media. Then, two out of 12 root media were chosen based on the physical properties for further experiments. The pre-planting nutrient charge fertilizers (PNCF) were incorporated into two root media and chemical properties were analysed again. The total porosity (TP), container capacity (CC), and air-filled porosity (AFP) of GAPB were 78.7%. 39.4%, and 38.3%, respectively, while those of GRPB were 74.7%, 41.2%, and 33.4%, respectively. The percentage of easily available water (EAW, from CC to 4.90 kPa tension) and buffering water (BW, 4.91-9.81 kPa tension) in GAPB were 12.7% and 8.5%, respectively, which were a little lower than the 13.5% and 8.8% in GRPB. The pH and EC were not different significantly, but cation exchange capacity was different between the two pine barks (GAPB: pH 5.26, EC $0.61dS{\cdot}m^{-1}$, CEC $15.7meq{\cdot}100g^{-1}$; GRPB: pH 5.19, EC $0.32dS{\cdot}m^{-1}$, CEC $9.32meq{\cdot}100g^{-1}$). The concentrations of exchangeable cations in GAPB were Ca 0.32, K 0.05, Mg 0.27 and $0.12cmol+{\cdot}kg^{-1}$, whereas those in GRPB were Ca 0.28, K 0.08, Mg 0.25 and $0.09cmol+{\cdot}kg^{-1}$. The concentrations of $PO_4$-P, $NH_4$-N and $NO_3$-N were 485.8, 0.62 and $0.91mg{\cdot}L^{-1}$ in GAPB and 578, 1.00 and $0.82mg{\cdot}L^{-1}$ in GRPB, respectively, when those were analyzed in the solution of the saturated paste. The TP, CC and AFP in the two selected media were 89.3 and 76.3, and 13.0% in PM+GAPB (8:2, v/v) and 88.2, 68.2 and 20.0% in CD+GRPB (8:2), respectively. The pHs and ECs were 3.8 and $0.24dS{\cdot}m^{-1}$ in PM+GAPB which were a little lower than 5.8 and $0.65dS{\cdot}m^{-1}$ in CD+GRPB. However, the pHs analysed before and after incorporation of PNCF in the two root media did not show large differences. This is because the solubility of dolomitic lime is very low, and the pH it is expected to rise gradually when crops are cultivated int he root media. The information obtained in this study should facilitate effective formulation of root media containing pine bark.

Difference in Chemical Composition of PM2.5 and Investigation of its Causing Factors between 2013 and 2015 in Air Pollution Intensive Monitoring Stations (대기오염집중측정소별 2013~2015년 사이의 PM2.5 화학적 특성 차이 및 유발인자 조사)

  • Yu, Geun Hye;Park, Seung Shik;Ghim, Young Sung;Shin, Hye Jung;Lim, Cheol Soo;Ban, Soo Jin;Yu, Jeong Ah;Kang, Hyun Jung;Seo, Young Kyo;Kang, Kyeong Sik;Jo, Mi Ra;Jung, Sun A;Lee, Min Hee;Hwang, Tae Kyung;Kang, Byung Chul;Kim, Hyo Sun
    • Journal of Korean Society for Atmospheric Environment
    • /
    • v.34 no.1
    • /
    • pp.16-37
    • /
    • 2018
  • In this study, difference in chemical composition of $PM_{2.5}$ observed between the year 2013 and 2015 at six air quality intensive monitoring stations (Bangryenogdo (BR), Seoul (SL), Daejeon (DJ), Gwangju (GJ), Ulsan (US), and Jeju (JJ)) was investigated and the possible factors causing their difference were also discussed. $PM_{2.5}$, organic and elemental carbon (OC and EC), and water-soluble ionic species concentrations were observed on a hourly basis in the six stations. The difference in chemical composition by regions was examined based on emissions of gaseous criteria pollutants (CO, $SO_2$, and $NO_2$), meteorological parameters (wind speed, temperature, and relative humidity), and origins and transport pathways of air masses. For the years 2013 and 2014, annual average $PM_{2.5}$ was in the order of SL ($${\sim_=}DJ$$)>GJ>BR>US>JJ, but the highest concentration in 2015 was found at DJ, following by GJ ($${\sim_=}SJ$$)>BR>US>JJ. Similar patterns were found in $SO{_4}^{2-}$, $NO_3{^-}$, and $NH_4{^+}$. Lower $PM_{2.5}$ at SL than at DJ and GJ was resulted from low concentrations of secondary ionic species. Annual average concentrations of OC and EC by regions had no big difference among the years, but their patterns were distinct from the $PM_{2.5}$, $SO{_4}^{2-}$, $NO_3{^-}$, and $NH_4{^+}$ concentrations by regions. 4-day air mass backward trajectory calculations indicated that in the event of daily average $PM_{2.5}$ exceeding the monthly average values, >70% of the air masses reaching the all stations were coming from northeastern Chinese polluted regions, indicating the long-range transportation (LTP) was an important contributor to $PM_{2.5}$ and its chemical composition at the stations. Lower concentrations of secondary ionic species and $PM_{2.5}$ at SL in 2015 than those at DJ and GJ sites were due to the decrease in impact by LTP from polluted Chinese regions, rather than the difference in local emissions of criteria gas pollutants ($SO_2$, $NO_2$, and $NH_3$) among the SL, DJ, and GJ sites. The difference in annual average $SO{_4}^{2-}$ by regions was resulted from combination of the difference in local $SO_2$ emissions and chemical conversion of $SO_2$ to $SO{_4}^{2-}$, and LTP from China. However, the $SO{_4}^{2-}$ at the sites were more influenced by LTP than the formation by chemical transformation of locally emitted $SO_2$. The $NO_3{^-}$ increase was closely associated with the increase in local emissions of nitrogen oxides at four urban sites except for the BR and JJ, as well as the LTP with a small contribution. Among the meterological parameters (wind speed, temperature, and relative humidity), the ambient temperature was most important factor to control the variation of $PM_{2.5}$ and its major chemical components concentrations. In other words, as the average temperature increases, the $PM_{2.5}$, OC, EC, and $NO_3{^-}$ concentrations showed a decreasing tendency, especially with a prominent feature in $NO_3{^-}$. Results from a case study that examined the $PM_{2.5}$ and its major chemical data observed between February 19 and March 2, 2014 at the all stations suggest that ambient $SO{_4}^{2-}$ and $NO_3{^-}$ concentrations are not necessarily proportional to the concentrations of their precursor emissions because the rates at which they form and their gas/particle partitioning may be controlled by factors (e.g., long range transportation) other than the concentration of the precursor gases.

Development of Analytical Method for Detection of Fungicide Validamycin A Residues in Agricultural Products Using LC-MS/MS (LC-MS/MS를 이용한 농산물 중 살균제 Validamycin A의 시험법 개발)

  • Park, Ji-Su;Do, Jung-Ah;Lee, Han Sol;Park, Shin-min;Cho, Sung Min;Shin, Hye-Sun;Jang, Dong Eun;Cho, Myong-Shik;Jung, Yong-hyun;Lee, Kangbong
    • Journal of Food Hygiene and Safety
    • /
    • v.34 no.1
    • /
    • pp.22-29
    • /
    • 2019
  • Validamycin A is an aminoglycoside fungicide produced by Streptomyces hygroscopicus that inhibits trehalase. The purpose of this study was to develop a method for detecting validamycin A in agricultural samples to establish MRL values for use in Korea. The validamycin A residues in samples were extracted using methanol/water (50/50, v/v) and purified with a hydrophilic-lipophilic balance (HLB) cartridges. The analyte was quantified and confirmed by liquid chromatograph-tandem mass spectrometer (LC-MS/MS) in positive ion mode using multiple reaction monitoring (MRM). Matrix-matched calibration curves were linear over the calibration ranges (0.005~0.5 ng) into a blank extract with $R^2$ > 0.99. The limits of detection and quantification were 0.005 and 0.01 mg/kg, respectively. For validation validamycin A, recovery studies were carried out three different concentration levels (LOQ, $LOQ{\times}10$, $LOQ{\times}50$, n = 5) with five replicates at each level. The average recovery range was from 72.5~118.3%, with relative standard deviation (RSD) less than 10.3%. All values were consistent with the criteria ranges requested in the Codex guidelines (CAC/GL 40-1993, 2003) and the NIFDS (National Institute of Food and Drug Safety) guideline (2016). Therefore, the proposed analytical method is accurate, effective and sensitive for validamycin A determination in agricultural commodities.

Development and Validation of the Analytical Method for Oxytetracycline in Agricultural Products using QuEChERS and LC-MS/MS (QuEChERS법 및 LC-MS/MS를 이용한 농산물 중 Oxytetracycline의 잔류시험법 개발 및 검증)

  • Cho, Sung Min;Do, Jung-Ah;Lee, Han Sol;Park, Ji-Su;Shin, Hye-Sun;Jang, Dong Eun;Cho, Myong-Shik;Jung, ong-hyun;Lee, Kangbong
    • Journal of Food Hygiene and Safety
    • /
    • v.34 no.3
    • /
    • pp.227-234
    • /
    • 2019
  • An analytical method was developed for the determination of oxytetracycline in agricultural products using the QuEChERS (Quick, Easy, Cheap, Effective, Rugged and Safe) method by liquid chromatography-tandem mass spectrometry (LC-MS/MS). After the samples were extracted with methanol, the extracts were adjusted to pH 4 by formic acid and sodium chloride was added to remove water. Dispersive solid phase extraction (d-SPE) cleanup was carried out using $MgSO_4$ (anhydrous magnesium sulfate), PSA (primary secondary amine), $C_{18}$ (octadecyl) and GCB (graphitized carbon black). The analytes were quantified and confirmed with LC-MS/MS using ESI (electrospray ionization) in positive ion MRM (multiple reaction monitoring) mode. The matrix-matched calibration curves were constructed using six levels ($0.001{\sim}0.25{\mu}g/mL$) and coefficient of determination ($r^2$) was above 0.99. Recovery results at three concentrations (LOQ, $10{\times}LOQ$, and $50{\times}LOQ$, n=5) were from 80.0 to 108.2% with relative standard deviations (RSDs) less than of 11.4%. For inter-laboratory validation, the average recovery was in the range of 83.5~103.2% and the coefficient of variation (CV) was below 14.1%. All results satisfied the criteria ranges requested in the Codex guidelines (CAC/GL 40-1993, 2003) and the Food Safety Evaluation Department guidelines (2016). The proposed analytical method was accurate, effective and sensitive for oxytetracycline determination in agricultural commodities. This study could be useful for safety management of oxytetracycline residues in agricultural products.

Development and Validation of an Analytical Method for Fungicide Fluoxastrobin Determination in Agricultural Products (농산물 중 살균제 Fluoxastrobin의 시험법 개발 및 유효성 검증)

  • So Eun, Lee;Su Jung, Lee;Sun Young, Gu;Chae Young, Park;Hye-Sun, Shin;Sung Eun, Kang;Jung Mi, Lee;Yun Mi, Chung;Gui Hyun, Jang;Guiim, Moon
    • Journal of Food Hygiene and Safety
    • /
    • v.37 no.6
    • /
    • pp.373-384
    • /
    • 2022
  • Fluoxastrobin a fungicide developed from Strobilurus species mushroom extracts, can be used as an effective pesticide to control fungal diseases. In this study, we optimized the extraction and purification of fluoxastrobin according to its physical and chemical properties using the QuEChERS method and developed an LC-MS/MS-based analysis method. For extraction, we used acetonitrile as the extraction solvent, along with MgSO4 and PSA. The limit of quantitation of fluoxastrobin was 0.01 mg/kg. We used 0.01, 0.1, and 0.5 mg/kg of five representative agricultural products and treated them with fluoxastrobin. The coefficients of determination (R2) of fluoxastrobin and fluoxastrobin Z isomer were > 0.998. The average recovery rates of fluoxastrobin (n=5) and fluoxastrobin Z isomer were 75.5-100.3% and 75.0-103.9%, respectively. The relative standard deviations (RSDs) were < 5.5% and < 4.3% for fluoxastrobin and fluoxastrobin Z isomer, respectively. We also performed an interlaboratory validation at Gwangju Regional Food and Drug Administration and compared the recovery rates and RSDs obtained for fluoxastrobin and fluoxastrobin Z isomer at the external lab with our results to validate our analysis method. In the external lab, the average recovery rates and RSDs of fluoxastrobin and fluoxastrobin Z isomer at each concentration were 79.5-100.5% and 78.8-104.7% and < 18.1% and < 10.2%, respectively. In all treatment groups, the concentrations were less than those described by the 'Codex Alimentarius Commission' and the 'Standard procedure for preparing test methods for food, etc.'. Therefore, fluoxastrobin is safe for use as a pesticide.

Studies on the Pulping Characteristics of Larchwood (Larix leptolepis Gordon) by Alkaline Process with Additives (첨가제(添加劑) 알칼리 법(法)에 의한 일본 잎갈 나무의 펄프화(化) 특성(特性)에 관(關)한 연구(硏究))

  • Lim, Kie-Pyo;Shin, Dong-Sho
    • Journal of the Korean Wood Science and Technology
    • /
    • v.7 no.2
    • /
    • pp.3-30
    • /
    • 1979
  • Larch ($\underline{Larix}$ $\underline{leptolepis}$ GORDON), one of the major afforestation species in Korea in view of its growing stock and rate of growth, is not favored as a raw material for pulp due to its low yield of pulp and difficulties with bleaching arising from the high content of extractives in wood, and the high heartwood ratio and the active phenolics, respectively. The purpose of this study is to investigate the characteristics of firstly pulping with various additives of cellulose protector for the yield of pulp, and secondly bleaching with oxygen for chlotination-alkali extraction of five stage-sequence to reduce chlorine compounds in bleaching effluents. The kraft cooking liquor for five age groups of larchwood was 18 percent active alkali with 25 percent sulfidity and 5 : 1 liquor-to-wood ratio, and each soda liquor for sap-and heart-wood of the 15-year-old larchwood was 18 percent alkali having one of the following cellulose protectors as the additive; magnesium sulfate ($MgSO_4$, 2.5%), zinc sulfate ($ZnSO_4$, 2.5%), aluminium sulfate ($Al_2(SO_4)_3$, 2.5%), potasium iodide (KI, 2.5%), hydroquinone (HQ, 2.5%), anthraquinone (AQ, 0.1%) and ethylene diamine (EDA, 2.5%). Then each anthraquinone-soda liquor for the determination of suitable cooking condition was the active alkali level of 15, 17 and 19 percent with 1.0, 0.5 and 0.1 percent anthraquinone, respectively. The cooking procedure for the pulps was scheduled to heat to 170$^{\circ}C$ in 90 minutes and to cook 90 minutes at the maximum temperature. The anthraquinone-soda pulps from both heartwood and sapwood of 15-year-old larchwood prepared with 0.5 percent anthraquinone and 18 percent active alkali were bleached in a four-stage sequency of OCED. (O: oxygen bleaching, D: chlorine dioxide bleaching and E: alkali extraction). In the first stage oxygen in atmospheric pressure was applied to a 30 percent consistency of pulp with 0.1 percent magnesium oxide (MgO) and 3, 6, and 9 percent sodium hydroxide on oven dry base, and the bleached results were compared pulps bleached under the conventional CEDED (C: chlorination). The results in the study were summarized as follows: 1. The screened yield of larch kraft pulp did not differ from particular ages to age group, but heartwood ratio, basic density, fiber length and water-extractives contents of wood and the tear factor of the pulp increased with increasing the tree age. The total yield of the pulp decreased. 2. The yield of soda pulp with various chemicals for cellulose protection of the 15-year-old larchwood increased slightly more than that of pure soda pulp and was slightly lower than that of kraft pulp. The influence of cellulose protectors was similar to the yield of pulps from both sapwood and heartwood. The effective protectors among seven additives were KI, $MgSO_4$ and AQ, for which the yields of screened pulp was as high as that of kraft pulp. Considering the additive level of protector, the AQ was the most effective in improving the yield and the quality of pulp. 3. When the amount of AQ increased in soda cooking, the yield and the quality of the pulp increased but rejects in total yield increased with decreasing the amount of active alkali from 19 to 15 percent. The best proportion of the AQ seemed to be 0.5 percent at 17 percent active alkali in anthraquinone-soda pulping. 4. On the bleaching of the AQ-soda pulp at 30 percent consistency with oxygen of atomospheric pressure in the first stage of the ODED sequence, the more caustic soda added, the brighter bleached pulp was obtained, but more lignin-selective bleaching reagent in proportion to the oxygen was necessary to maintain the increased yield with the addition of anthraquinone. 5. In conclusion, the suitable pulping condition for larchwood to improve the yield and quality of the chemical pulp to the level for kraft pulp from conventional process seemed to be. A) the selection of young larchwood to prevent decreasing in yield and quality due to the accumulation extractives in old wood, B) the application of 0.5 percent anthraquinone to the conventional soda cooking of 18 percent active alkali, and followed, C) the bleaching of oxygen in atmospheric pressure on high consistency (30%) with 0.1 percent magnesium oxide in the first stage of the ODED sequence to reduce the content of chlorine compounds in effluent.

  • PDF

Phase Equilibria of the System Pd-Sb-Te and Its Geological Implications (팔라듐-안티몬-테루르 계(系)의 상평형(相平衡)과 지질학적(地質學的) 의의(意義))

  • Kim, Won-Sa;Chao, George Y.
    • Economic and Environmental Geology
    • /
    • v.26 no.3
    • /
    • pp.327-335
    • /
    • 1993
  • Phase relations in the system Pd-Sb-Te were investigated at $1000^{\circ}$, $800^{\circ}$, and $600^{\circ}C$, using the sealed-capsule technique; the quenched products were studied by reflected light microscopy, X-ray diffraction, and electron microprobe analysis. At $1000^{\circ}C$, the solid phases Pd, $Pd_{20}Sb_7$, $Pd_8Sb_3$, $Pd_{31}Sb_{12}$, and $Pd_5Sb_2$ are stable with a liquid phase that occupies most of the isothermal diagram. Additional solid phases at $800^{\circ}C$ are $Pd_5Sb_3$, PdSb, $Pd_8Te_3$, $Pd_7Te_3$, and a continuous $Pd_{20}Te_7-Pd_{20}Sb_7$ solid solution becomes stable. At $600^{\circ}$, $PdSb_2$, $Pd_{17}Te_4$, $Pd_9Te_4$, PdTe, $PdTe_2$, $Sb_2Te_3$, and Sb and continuous PdSb-PdTe and $PdTe-PdTe_2$ solid solutions are stable. All the solid phases exhibit solid solution, mainly by substitution between Sb and Te to an extent that varies with temperature of formation. The maximum substitution (at.%) of Te for Sb in the Pd-Sb phases is: 44.3 in $Pd_8Sb_3$, 52.0 in $Pd_{31}Sb_{12}$, 46.2 in $Pd_5Sb_2$ at $800^{\circ}C$; 15.3 in $Pd_5Sb_3$, 68.3 in $PdSb_2$ at $600^{\circ}C$. The maximum substitution (at.%) of Sb for Te in the Pd-Te phases is 34.5 in $Pd_5Sb_3$ at $800^{\circ}C$, and 41.6 in $Pd_7Te_3$, 5.2 in $Pd_{17}T_4$, 12.4 in $Pd_9Te_4$, and 19.1 in $PdTe_2$ at $600^{\circ}C$. Physical properties and X-ray data of the synthetic $Pd_9Te_4$, PdTe, $PdTe_2$, $Pd_8Sb_3$, PdSb, and $Sb_2Te_3$ correspond very well with those of telluropalladinite, kotulskite, merenskyite, mertieite II, sudburyite, and tellurantimony, respectively. Because X-ray powder diffraction data consistently reveal a 310 peak ($2.035{\AA}$), the $PdSb_2$ phase is most probably of cubic structure with space group $P2_13$. The X-ray powder pattern of a phase with PdSbTe composition, synthesized at $600^{\circ}C$, compares well with that of testibipalladite. Therefore, testibiopalladite may be a member of the $PdSb_2-Pd(Sb_{0.32}Te_{0.68})$ solid solution series which is cubic and $P2_13$ in symmetry. Thus the ideal fonnula for testibiopalladite, presently PdSbTe, must be revised to PdTe(Sb, Te). Borovskite($pd_3SbTe_4$) has not been found in the synthetic system in the temperature range $1000^{\circ}-600^{\circ}C$.

  • PDF

A Study on Industries's Leading at the Stock Market in Korea - Gradual Diffusion of Information and Cross-Asset Return Predictability- (산업의 주식시장 선행성에 관한 실증분석 - 자산간 수익률 예측 가능성 -)

  • Kim Jong-Kwon
    • Proceedings of the Safety Management and Science Conference
    • /
    • 2004.11a
    • /
    • pp.355-380
    • /
    • 2004
  • I test the hypothesis that the gradual diffusion of information across asset markets leads to cross-asset return predictability in Korea. Using thirty-six industry portfolios and the broad market index as our test assets, I establish several key results. First, a number of industries such as semiconductor, electronics, metal, and petroleum lead the stock market by up to one month. In contrast, the market, which is widely followed, only leads a few industries. Importantly, an industry's ability to lead the market is correlated with its propensity to forecast various indicators of economic activity such as industrial production growth. Consistent with our hypothesis, these findings indicate that the market reacts with a delay to information in industry returns about its fundamentals because information diffuses only gradually across asset markets. Traditional theories of asset pricing assume that investors have unlimited information-processing capacity. However, this assumption does not hold for many traders, even the most sophisticated ones. Many economists recognize that investors are better characterized as being only boundedly rational(see Shiller(2000), Sims(2201)). Even from casual observation, few traders can pay attention to all sources of information much less understand their impact on the prices of assets that they trade. Indeed, a large literature in psychology documents the extent to which even attention is a precious cognitive resource(see, eg., Kahneman(1973), Nisbett and Ross(1980), Fiske and Taylor(1991)). A number of papers have explored the implications of limited information- processing capacity for asset prices. I will review this literature in Section II. For instance, Merton(1987) develops a static model of multiple stocks in which investors only have information about a limited number of stocks and only trade those that they have information about. Related models of limited market participation include brennan(1975) and Allen and Gale(1994). As a result, stocks that are less recognized by investors have a smaller investor base(neglected stocks) and trade at a greater discount because of limited risk sharing. More recently, Hong and Stein(1999) develop a dynamic model of a single asset in which information gradually diffuses across the investment public and investors are unable to perform the rational expectations trick of extracting information from prices. Hong and Stein(1999). My hypothesis is that the gradual diffusion of information across asset markets leads to cross-asset return predictability. This hypothesis relies on two key assumptions. The first is that valuable information that originates in one asset reaches investors in other markets only with a lag, i.e. news travels slowly across markets. The second assumption is that because of limited information-processing capacity, many (though not necessarily all) investors may not pay attention or be able to extract the information from the asset prices of markets that they do not participate in. These two assumptions taken together leads to cross-asset return predictability. My hypothesis would appear to be a very plausible one for a few reasons. To begin with, as pointed out by Merton(1987) and the subsequent literature on segmented markets and limited market participation, few investors trade all assets. Put another way, limited participation is a pervasive feature of financial markets. Indeed, even among equity money managers, there is specialization along industries such as sector or market timing funds. Some reasons for this limited market participation include tax, regulatory or liquidity constraints. More plausibly, investors have to specialize because they have their hands full trying to understand the markets that they do participate in

  • PDF

Potassium Physiology of Upland Crops (밭 작물(作物)의 가리(加里) 생리(生理))

  • Park, Hoon
    • Korean Journal of Soil Science and Fertilizer
    • /
    • v.10 no.3
    • /
    • pp.103-134
    • /
    • 1977
  • The physiological and biochemical role of potassium for upland crops according to recent research reports and the nutritional status of potassium in Korea were reviewed. Since physical and chemical characteristics of potassium ion are different from those of sodium, potassium can not completely be replaced by sodium and replacement must be limited to minimum possible functional area. Specific roles of potassium seem to keep fine structure of biological membranes such as thylacoid membrane of chloroplast in the most efficient form and to be allosteric effector and conformation controller of various enzymes principally in carbohydrate and protein metabolism. Potassium is essential to improve the efficiency of phoro- and oxidative- phosphorylation and involve deeply in all energy required metabolisms especially synthesis of organic matter and their translocation. Potassium has many important, physiological functions such as maintenance of osmotic pressure and optimum hydration of cell colloids, consequently uptake and translocation of water resulting in higher water use efficiency and of better subcellular environment for various physiological and biochemical activities. Potassium affects uptake and translocation of mineral nutrients and quality of products. potassium itself in products may become a quality criteria due to potassium essentiality for human beings. Potassium uptake is greatly decreased by low temperature and controlled by unknown feed back mechanism of potassium in plants. Thus the luxury absorption should be reconsidered. Total potassium content of upland soil in Korea is about 3% but the exchangeable one is about 0.3 me/100g soil. All upland crops require much potassium probably due to freezing and cold weather and also due to wet damage and drought caused by uneven rainfall pattern. In barley, potassium should be high at just before freezing and just after thawing and move into grain from heading for higher yield. Use efficiency of potassium was 27% for barley and 58% in old uplands, 46% in newly opened hilly lands for soybean. Soybean plant showed potassium deficiency symptom in various fields especially in newly opened hilly lands. Potassium criteria for normal growth appear 2% $K_2O$ and 1.0 K/(Ca+Mg) (content ratio) at flower bud initiation stage for soybean. Potassium requirement in plant was high in carrot, egg plant, chinese cabbage, red pepper, raddish and tomato. Potassium content in leaves was significantly correlated with yield in chinese cabbage. Sweet potato. greatly absorbed potassium subsequently affected potassium nutrition of the following crop. In the case of potassium deficiency, root showed the greatest difference in potassium content from that of normal indicating that deficiency damages root first. Potatoes and corn showed much higher potassium content in comparison with calcium and magnesium. Forage crops from ranges showed relatively high potassium content which was significantly and positively correlated with nitrogen, phosphorus and calcium content. Percentage of orchards (apple, pear, peach, grape, and orange) insufficient in potassium ranged from 16 to 25. The leaves and soils from the good apple and pear orchards showed higher potassium content than those from the poor ones. Critical ratio of $K_2O/(CaO+MgO)$ in mulberry leaves to escape from winter death of branch tip was 0.95. In the multiple croping system, exchangeable potassium in soils after one crop was affected by the previous crops and potassium uptake seemed to be related with soil organic matter providing soil moisture and aeration. Thus, the long term and quantitative investigation of various forms of potassium including total one are needed in relation to soil, weather and croping system. Potassium uptake and efficiency may be increased by topdressing, deep placement, slow-releasing or granular fertilizer application with the consideration of rainfall pattern. In all researches for nutritional explanation including potassium of crop yield reasonable and practicable nutritional indices will most easily be obtained through multifactor analysis.

  • PDF