• Journal of Korean Society of Industrial and Systems Engineering
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• v.37 no.3
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• pp.122-128
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• 2014

When evaluating effectiveness of a program, there is a tendency to simply compare the performances of the treated before and after the program or to compare the differences in the performances of the treated and the untreated before-after the program. However, these ways of evaluating effectiveness have problems because they can't account for environmental changes affecting the treated and/or effects coming from the differences between the treated and the untreated. Therefore, in this paper, panel data analysis (fixed effects model) is suggested as a means to overcome these problems and is utilized to evaluate the effectiveness of fusion technology program conducted by Ministry of Trade, Industry and Energy, Korea. As a result, it turns out that the program has definitely positive impacts on the beneficiary in terms of sales, R&D expenditure, and employment.

• Human Ecology Research
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• v.59 no.1
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• pp.113-125
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• 2021

Previous research on the association between marriage and life satisfaction is limited due to the lack of attempts to investigate the time profiles of life satisfaction around marriage. This study addresses unresolved questions about the positive association between marriage and life satisfaction as well as tests if it is moderated by childhood parental divorce. Using 14 waves of the Korean Welfare Panel Study(N=3,890 individuals or 25,338 person-year observations), the author first used an ordinary least squares model with clustered standard errors and found that married people reported higher life satisfaction before marriage, compared to people who remained single during the survey. This result supports a social selection perspective. Next, the author used a fixed effects regression model and found that the transition into marriage was associated with an initial rise and subsequent decline in life satisfaction. Life satisfaction increased after reaching its lowest level in the third year of marriage. Life satisfaction after the transition into marriage was significantly higher than that observed three or more years prior to marriage. The result supports a social causation perspective. Such changing patterns were not moderated by parental divorce during childhood. This study advances the current literature on marriage and life satisfaction by using a nationally representative longitudinal data set as well as by testing social selection and causation perspectives.

• Communications for Statistical Applications and Methods
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• v.21 no.1
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• pp.45-60
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• 2014

We introduce a MCMC sampling for a generalized linear normal random effects model with the ordered probit link function based on latent variables from suitable truncated normal distribution. Such models have proven useful in practice and we have observed numerically reasonable results in the estimation of fixed effects when the random effect term is provided. Applications that utilize Korean Welfare Panel Study data can be difficult to model; subsequently, we find that an ordered probit model with the random effects leads to an improved analyses with more accurate and precise inferences.

• Journal of Korea Port Economic Association
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• v.30 no.2
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• pp.133-143
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• 2014

The paper uses a panel gravity model to analyse the determinants of export via Gwangyang port for the period from 2000-2012. The gravity model includes export via Gwangyang port, GDP and population of trading partners, the distances between Korea and its partners, and Korea-ASEAN FTA dummy. Hausman test shows up which one is exactly appropriate between random effect estimation and fixed effect estimation to use panel dataset. It depends on whether or not existence or nonexistence of the correlation between unobserved omitted factors and variables. Fixed effect estimation is suitable for this paper by the rejection of null hypothesis. An Empirical analysis of this paper shows GDP influences positive effects and distance influences negative effects to Gwangyang port trading partners. In addition, the results strongly supported the effects of Korea-ASEAN FTA on the growth of Gwangyang port export.

• Parasites, Hosts and Diseases
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• v.48 no.2
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• pp.171-174
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• 2010

The anti-tumorigenic effects of Toxoplasma gondii (RH) antigens were studied in a murine sarcoma-180 tumor model. To determine the anti-tumor effects, the reduction in tumor size and expression of CD31 (an angiogenesis marker in the tumor tissue) were examined after injection of BALB/c mice with T. gondii lysate antigen (TLA) or formalin-fixed, proliferation-inhibited, T. gondii tachyzoites. Tumors were successfully produced by an intradermal injection of sarcoma-180 cells with plain Matrigel in the mid-backs of mice. After injection with TLA or formalin-fixed T. gondii tachyzoites, the increase in tumor size and weight nearly stopped while tumor growth continued in control mice that were injected with PBS. CD31 expression in TLA-treated or formalin-fixed T. gondii-injected mice was lower than the control mice. Accordingly, the present study shows that the treatment of mice with formalin-fixed T. gondii or TLA in the murine sarcoma-180 tumor model results in a decrease of both tumor size and CD31 expression.

• Korean Journal of Food Science and Technology
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• v.35 no.5
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• pp.898-904
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• 2003

This study was conducted to observe the effect of various kinds of sugars and their molar concentrations on the Maillard browning reaction. To observe the effects of various kinds of sugar, glucose, fructose, tagatose, xylose, and sucrose were employed. A model solution consisting of 0.2 M sugar and 0.2 M glycine was prepared and heated at $100^{\circ}C$ for 5 hr. The model solution with adjusted concentrations of either tagatose or glycine was also heated at $100^{\circ}C$ for 5 hr. Tagatose showed the fastest Maillard reaction, followed by xylose, fructose, glucose, and sucrose. After glycine concentration of the model solution was fixed, the model solution showed more browning with an increase in tagatose concentration. When the tagatose concentration of the model solution was fixed, the model solution showed more browning with an increase in glycine concentration. The model solution with a fixed concentration of glycine showed more more browning than that with a fixed concentration of tagatose, since the former had higher amounts of the reactant.

• Asia-Pacific Journal of Business
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• v.15 no.2
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• pp.207-222
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• 2024

Purpose - This study investigates whether the lagged price difference ratio between preferred and common stocks is related to the return and closing price of the preferred stock using three panel models. Design/methodology/approach - As a first step, we use a two-way fixed effect panel model with stationary preferred stock returns as a dependent variable. For robustness, we then apply the autoregressive distributed lag model (ARDL) and error correction model (ECM) with nonstationary closing prices of the preferred stocks as a dependent variable and compare the results of each model. The ARDL and ECM models provide an advantage of estimating a long-run equilibrium equation together if a long-run relationship exists between the two time-series variables compared to the fixed effect model. Findings - Our sample consists of 107 preferred stocks with at least four years of daily observations as of the end of December 2023. The coefficients of the error correction terms in the ARDL and ECM models are highly statistically significant, approximately -0.08. This indicates that the disequilibrium between the closing prices of common and preferred stocks adjusts by about 8% per day toward equilibrium. In all three models, the price difference ratio on day t-1 was statistically significant in explaining the preferred stock returns or closing prices on day t, implying that trading based on the previous day's price difference ratio is effective for one day. Research implications or Originality - Furthermore, the returns on preferred stocks are higher for firms with a lower proportion of foreign investors or a lower foreign market capitalization of preferred stocks. This suggests that foreign investors with informational advantages do not actively engage in profit-taking by trading preferred stocks, thus not narrowing the price difference. In summary, the recent surge in preferred stock prices is likely driven mainly by the irrational behavior of retail investors.

• Journal of Labour Economics
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• v.37 no.2
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• pp.79-103
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• 2014

Previous studies show that tall people have better labor market outcomes, but controlling for their abilities reduces the size of height effects. This implies that a failure to properly control for one's ability could overestimate the OLS estimate. This paper contributes to the literature by being the first to control for individual fixed effects (FE) and to examine height effects on the probability of one's attaining a leadership position. The data used are panel data of a cohort obtained during the cohort's middle and high school years. In OLS estimation, this paper finds positive height effects for boys. However, when controlling for individual fixed effects, the estimate is not statistically significant. For girls, the height effects are found on neither OLS nor FE model.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.13 no.8
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• pp.3417-3426
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• 2012

This study aims to determine how ownership structure (share-holding ratio of insiders, foreigners) affects agent costs (the portion of asset efficiency or non-operating expenses) through empirical analysis. However, as existing studies on correlations between ownership structure and agent costs adopted Pooled OLS Model, this study focused on additionally formulating Fixed Effect Model and Random Effect Model aimed to reflect the time of data formation and corporate effects as study models based on verification results on the suitability of Pooled-OLS Model before comparative analysis for the purpose of improvement of credibility and statistical validity of the results of empirical analysis based on the premise that the Pooled OLS Model is not reliable enough to verify massive panel data. The data has been accumulated over 10 years from 1998 to 2007 after the IMF crisis hit the nation, from a subject 331 companies except for financial institutions. As a result of the empirical analysis, verification of the suitability of model has determined that the Random Effect Model is appropriate in terms of asset efficiency among agent costs items. On the other hand, the Fixed Effect Model is appropriate in terms of non-operating costs. As a result of the empirical analysis according to the appropriate model, no hypothesis adopted in the Pooled OLS Model has been accepted. This suggests that developing an appropriate model is more important than other factors for the purpose of generating statistically significant empirical results by showing that different empirical results are produced according to the type of empirical analysis.

• Journal of the Korean Statistical Society
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• v.35 no.3
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• pp.317-329
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• 2006

In the problem of estimating the error variance in the balanced fixed- effects one-way analysis of variance (ANOVA) model, Ghosh (1994) proposed hierarchical Bayes estimators and raised a conjecture for which all of his hierarchical Bayes estimators are admissible. In this paper we prove this conjecture is true by representing one-way ANOVA model to the distributional form of a multiparameter exponential family.