• 재무관리연구
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• 제15권1호
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• pp.73-94
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• 1998

This paper contributes to the ongoing controversy over price and volatility spillovers across countries by providing new evidence with the futures data of the S&P 500 and Nikkei 225 index futures contacts from January 3, 1990 to April 16, 1996. Based on the two-stage symmetric and asymmetric GARCH models we document that both the U.S. and the Japanese daytime returns significantly influence the subsequent overnight returns of the other market. We find no signs of volatility spillovers between two international markets with the symmetric model. However, with the asymmetric models, we find that the magnitude of foreign negative shocks are different from the positive ones. The findings generally suggest that the two markets are more sensitive to the bad news originating in the other market. This nature of transmission between two markets would have important implications to the arbitragers who are trying to exploit the short-term dynamics of price and volatility movements across two security markets.

• Journal of the Optical Society of Korea
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• 제12권4호
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• pp.255-261
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• 2008

This paper reports a side-coupled asymmetric $1{\times}2$ plastic optical fiber coupler for an optical sensor system. The dependence of the optical power coupling ratio on the coupling angle and refractive index of the adhesion layer in both the forward and backward directions was examined based on the geometrical optics. It was confirmed experimentally that the coupling ratios can be optimized by controlling the coupling angle and refractive index of the adhesion layer. A maximum forward coupling efficiency > 93% was achieved.

• Current Optics and Photonics
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• 제3권6호
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• pp.583-589
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• 2019

We report experimental results on 940-nm 350-mW AlGaAs/InGaAs transverse single-mode laser diodes (LDs) adopting graded-index separate confinement heterostructures (GRIN-SCH) and p,n-clad asymmetric structures, with improved temperature and small-divergence beam characteristics under high-output-power operation, for a three-dimensional (3D) motion-recognition sensor. The GRIN-SCH design provides good carrier confinement and prevents current leakage by adding a grading layer between cladding and waveguide layers. The asymmetric design, which differs in refractive-index distribution of p-n cladding layers, reduces the divergence angle at high-power operation and widens the transverse mode distribution to decrease the power density around emission facets. At an optical power of 350 mW under continuous-wave (CW) operation, Gaussian narrow far-field patterns (FFP) are measured with the full width at half maximum vertical divergence angle to be 18 degrees. A threshold current (I_th) of 65 mA, slope efficiency (SE) of 0.98 mW/mA, and operating current (I_op) of 400 mA are obtained at room temperature. Also, we could achieve catastrophic optical damage (COD) of 850 mW and long-term reliability of 60℃ with a TO-56 package.

• 대한후두음성언어의학회지
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• 제13권1호
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• pp.5-17
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• 2002

Objectives : Videostrobokymography(VSK) has been recently developed and reported by Sung et at. We aimed to analyze vibratory patterns and objective parameters in various benign vocal fold lesions using VSK, and examine the efficacy of VSK in clinical application. Materials and Methods : Using VSK, we analyzed the vibration pattern of normal vocal fold and various benign lesions, such as nodules, polyps, cysts, Reinke's edema and unilateral vocal fold paralysis. We also calculated objective parameters, open quotient and asymmetric index, and compared them with mean values of parameters in normal controls. Results : In nodules, polyps, and cysts, the open quotient on the site of the lesion was similar to the mean value in normal controls, however, on the other part of the vocal folds it was much larger than normal mean value. In Reinke's edema, irregular and asymmetric vibration was observed. The posterior portion of the vocal folds showed larger open quotients than the anterior portion. In the unilateral vocal fold paralysis, irregular vocal folds vibration and incomplete closure of the vocal folds were documented. Much larger asymmetric indices were calculated in the unilateral vocal fold paralysis than in normal controls and other lesions. The asymmetric index could be a good quantitative parameter of vibration from a patient with vocal fold paralysis. Conclusion : This study demonstrated that VSK could generate clear quantitative documentations of fine vibrations of vocal folds in many different benign lesions. VSK has a potential as an effective tool for quantitative analysis of vibratory patterns of the vocal folds iii clinical settings.

• 한국항만경제학회지
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• 제34권4호
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• pp.181-190
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• 2018

본 연구는 2012년 1월부터 2018년 5월까지의 주별 건화물선 운임과 원자재 가격 자료를 사용하여 두 변수간의 비대칭적인 관계를 다음의 두 가지를 중심으로 실증 분석한다. 첫째, 원자재가격의 거시경제지표에 대한 비대칭성을 2단계 경계(threshold) 공적분 검정모형으로 추정한다. 둘째, 기존의 원자재가격 변화의 무역수지에 대한 비대칭관계 검정을 보다 고빈도 건화물선 운임지수로 우회해서 검정한다. 추정결과 기존의 선형 분석과 대조적으로 하한과 상한에 대한 각각의 경계값이 상이한 비대칭성을 갖는 것으로 드러났다. 이는 불규칙적인 수익률 변동을 유발하는 급격한 잔차의 변동 구간이 원자재 가격과 건화물선 운임간의 선형의 장기균형관계가 성립하지 않도록 함을 의미한다. 따라서 이상의 추정결과는 급격한 가격 변화를 분석에 고려하기 위해서는 불규칙(irregular)적인 변동성을 제어하는 무반응(band of inaction)구간을 모형에 포함하는 것이 필요함을 의미하며 기존의 원자재가격의 무역수지에 대한 비대칭성과 일치하는 실증분석 결과다.

• ETRI Journal
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• 제24권5호
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• pp.341-348
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• 2002

We propose an asymmetric sampled grating laser and a multi-wavelength laser array associated with it. Asymmetric sampling periods combined with an index shifter make it possible to use first order reflection for lasing operations. With the structure of our design, we achieved a simple fabrication procedure as well as a high yield without using complex and time-consuming e-beam lithography for multi-period gratings. We analyzed the effect of mirror coating by numerical analysis to improve single mode and power extraction performance. By using high reflection-antireflection coatings, we obtained high power extraction efficiency without degradation of the single mode property. For the multi-wavelength laser array, to gain wavelength control, we varied the sampling periods from one laser to an adjacent laser across the array. With this approach, we showed the feasibility of an array of up to 30 channels with 100 GHz wavelength spacing.

• The Journal of Asian Finance, Economics and Business
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• 제6권3호
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• pp.19-26
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• 2019

The paper aims to measure stock price volatility on Ho Chi Minh stock exchange (HSX). We apply symmetric models (GARCH, GARCH-M) and asymmetry (EGARCH and TGARCH) to measure stock price volatility on HSX. We used time series data including the daily closed price of VN-Index during 1/03/2001-1/03/2019 with 4375 observations. The results show that GARCH (1,1) and EGARCH (1,1) models are the most suitable models to measure both symmetry and asymmetry volatility level of VN-Index. The study also provides evidence for the existence of asymmetric effects (leverage) through the parameters of TGARCH model (1,1), showing that positive shocks have a significant effect on the conditional variance (volatility). This result implies that the volatility of stock returns has a big impact on future market movements under the impact of shocks, while asymmetric volatility increase market risk, thus increase the attractiveness of the stock market. The research results are useful reference information to help investors in forecasting the expected profit rate of the HSX, and also the risks along with market fluctuations in order to take appropriate adjust to the portfolios. From this study's results, we can see risk prediction models such as GARCH can be better used in risk forecasting especially.

• Asian Journal of Business Environment
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• 제11권4호
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• pp.17-29
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• 2021

Purpose: The aim of this study is to explore the dynamic linkage between conditional stock market volatility and macroeconomic uncertainty of Bangladesh. Research design, data, and methodology: This study uses monthly data covering the time period from January 2005 to December 2018. A comprehensive set of macroeconomic variables, namely industrial production index (IP), consumer price index (CPI), broad money supply (M2), 91-day treasury bill rate (TB), treasury bond yield (GB), exchange rate (EX), inflow of foreign remittance (RT) and stock market index of DSEX are used for analysis. Symmetric and asymmetric univariate GARCH family of models and multivariate VAR model, along with block exogeneity and impulse response functions, are implemented on conditional volatility series to discover the possible interactions and causal relations between macroeconomic forces and stock return. Results: The analysis of the study exhibits time-varying volatility and volatility persistence in all the variables of interest. Moreover, the asymmetric effect is found significant in the stock return and most of the growth series of macroeconomic fundamentals. Results from the multivariate VAR model indicate that only short-term interest rate significantly influence the stock market volatility, while conditional stock return volatility is significant in explaining the volatility of industrial production, inflation, and treasury bill rate. Conclusion: The findings suggest an increasing interdependence between the money market and equity market as well as the macroeconomic fundamentals of Bangladesh.

• 한국광학회지
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• 제12권4호
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• pp.320-326
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• 2001

본 논문에서는 출력 도파로의 한쪽 폭을 변화 시켜 다양한 광파워 분리비를 갖는 비대칭형 Y-분리기를 BK7 유리에 $Ag^+-Na^+$이온교환법을 이용하여 제작하였다. FD-BPM을 이용하여 한쪽 출력 도파로의 폭에 따라 다양한 출력 파위를 얻을 수 있는 비대칭형의 Y-분리기의 도파특성을 살펴보았다. 그리고 이온교환에 의해 형성된 채널형 도파로의 굴절률 분포를 결정하고 채널형 도파로를 제작하여 도파특성도 살펴보았다. 비대칭형 Y-분리기는 한 쪽 도파로의 폭을 $4{\mu}m$에서 $6{\mu}m$까지 변화시키면서 제작하고 특성을 파악하였다.

• 한국인구학
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• 제25권1호
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• pp.33-50
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• 2002

본 연구는 교육수준 별 혼인표에서 나타나는 남녀 결혼의 비대칭성을 조사하여 남녀불평등 정도를 측정하고자 한다. 연구의 기본가정은 남녀간의 불평등이 존재할때는 남자가 결혼하는 유형과 여자가 결혼하는 유형이 다르다는 것이다. 남녀불평 등 정도가 큰 사회에서는 여자의 지위가 남자의 지위에 비해 높다는 사실을 받아들이기가 상대적으로 더 힘들다. 구체적인 연구의 목적은 혼인표의 비대칭성을 측정하기 위한 통계모형과 지수를 개발하는 것이다. 아울러 국가별로 다르게 나타나는 남녀불평등지수의 차이에 미친 원인을 찾아보고자 한다. 이 분야에서 남녀불평등정도의 차이에 관한 중요한 이론으로 논의되는 두 가지 이론은 산업화론과 정치 /문화이론이다. 이러한 연구목적을 위해 27여개의 교육수준일 혼인표가 분석되었다. 가설검증과 같은 방법으로 엄격하게 이론의 타당성을 살펴본 것은 아니지만, 분석결과를 통해서 몇 가지 시사점을 찾아볼 수 있다. 첫째, 상대적으로 덜 산업화된 국가들에 비해. 산업화가 많이 진척된 나라일수록 남녀불평등의 정도가 작다. 둘째. 다른 조건이 같다면, 정치제도가 선택결혼의 정도에 영향을 미친다. 셋째. 이러한 정치적인 요인뿐만 아니라 문화적인 요인도 적어도 결혼과 관련하여 남녀불평등 정도에 영향을 준 것으로 보여진다 요약하자면, 본 연구는 남녀불평등과 관련요인의 관계에 대해서 일종의 수정된 산업화이론을 시사하고 있다 즉, 대부분의 국가에서는 산업화의 진척에 따라 남녀불평등 정도가 작아진다 동시에 몇몇 국가에서는 그 나라 특유의 정치제도나 문화적 경험에 많은 영향을 받는 것으로 보인다. 이러한 결과는 산업화 정도에 따른 남녀 간 사회적 지위의 감소 등을 강조하는 기존의 이론을 부분적으로 확인하는 것이다. 동시에 단순이 산업화의 정도가 그러한 경향을 보장하는 것은 아니다라는 것을 강조하고 하고 있다.