• Title/Summary/Keyword: Individual Fixed Effect Model

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The Effect of International Diversification on Dividend Payout ratio and Dividend Yield Rate (국제적 다각화가 배당성향 및 배당수익률에 미치는 효과 분석)

  • Choi, Yu-Jeong;Lim, Jae-Hwan
    • Journal of the Korea Convergence Society
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    • v.11 no.12
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    • pp.187-197
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    • 2020
  • In this study, how international diversification of domestic companies increases corporate profits and increases the dividend income of paid-in capital investors, who provided the basis for corporate business activities in the process of distributing profits. I tried to find out if it had an effect. An empirical analysis was conducted using a fixed-effect model for companies with settlements at the end of December listed on the domestic securities market from 2011 to 2018. It was confirmed that the higher the level of international diversification of individual companies, the higher the company's dividend payout ratio and dividend yield. This means that companies can steadily expand corporate profits and dividend yield of shareholders by securing new overseas markets through international diversification, it can be seen that a company's international diversification strategy can contribute to the increase of corporate value by increasing the company's dividend payout ratio by increasing dividendable profit.

Genetic Parameters for Litter Size in Pigs Using a Random Regression Model

  • Lukovic, Z.;Uremovic, M.;Konjacic, M.;Uremovic, Z.;Vincek, D.
    • Asian-Australasian Journal of Animal Sciences
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    • v.20 no.2
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    • pp.160-165
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    • 2007
  • Dispersion parameters for the number of piglets born alive were estimated using a repeatability and random regression model. Six sow breeds/lines were included in the analysis: Swedish Landrace, Large White and both crossbred lines between them, German Landrace and their cross with Large White. Fixed part of the model included sow genotype, mating season as month-year interaction, parity and weaning to conception interval as class effects. The age at farrowing was modelled as a quadratic regression nested within parity. The previous lactation length was fitted as a linear regression. Random regressions for parity on Legendre polynomials were included for direct additive genetic, permanent environmental, and common litter environmental effects. Orthogonal Legendre polynomials from the linear to the cubic power were fitted. In the repeatability model estimate of heritability was 0.07, permanent environmental effect as ratio was 0.04, and common litter environmental effect as ratio was 0.01. Estimates of genetic parameters with the random regression model were generally higher than in the repeatability model, except for the common litter environmental effect. Estimates of heritability ranged from 0.06 to 0.10. Permanent environmental effect as a ratio increased along a trajectory from 0.03 to 0.11. Magnitudes of common litter effect were small (around 0.01). The eigenvalues of covariance functions showed that between 7 and 8 % of genetic variability was explained by individual genetic curves of sows. This proportion was mainly covered by linear and quadratic coefficients. Results suggest that the random regression model could be used for genetic analysis of litter size.

Recent Economic Crises and Foreign Trade in Major ASEAN Countries (최근 경제위기들과 ASEAN 주요국의 무역)

  • Won, Yongkul
    • The Southeast Asian review
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    • v.20 no.3
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    • pp.41-64
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    • 2010
  • The recent global financial crisis triggered by the sub-prime mortgage debacle in the United States hit hard most ASEAN countries that have just recovered from the unprecedented economic crisis ten years ago. This paper, using individual time-series and panel data from 1990 to 2009, intends to investigate and compare the impacts of the two aforementioned economic crises on trade in the four developing ASEAN countries that encompass Indonesia, Malaysia, the Philippines and Thailand. In doing so, the paper traces the behaviors of main macroeconomic variables before and after the crises on graphs, and then estimates classical export and import demand functions that include real exchange rate, home and foreign GDPs as explanatory variables. In the estimation functions, two dummy variables are added to consider the effects of the two economic crises separately. Individual country data analyses reveal that by and large the 1997 economic crisis seems hit those ASEAN countries' exports and imports harder than the recent global financial crisis. Surprisingly the recent financial crisis turns out more or less statistically insignificant for those countries' export and import performances. The fixed effect model estimation using panel data of those four ASEAN countries also shows that the 1997 economic crisis had affected exports and imports of those countries negatively while the recent global financial crisis was not statistically significant. These results indicate that overall the effect from the 1997 crisis was more devastating than that of the recent global crisis for those ASEAN countries.

Comparative Study on the Departure Area for a Day's Tour Trip in Due Consideration of the Circular Trip among Tourist Attractions - Focused on Geoje-si Tourist before and after the Opening of BG Fixed Link - (관광지간 회유(回遊)행동을 고려한 당일관광통행 출발권역 비교연구 - 거가대로 개통 전후 거제 방문관광객을 대상으로 -)

  • Song, Ki-Wook;Jung, Hun-Young
    • KSCE Journal of Civil and Environmental Engineering Research
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    • v.35 no.5
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    • pp.1103-1110
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    • 2015
  • Ratio of a day's tour for Geoje-si, 22.6 percent, has increased to 48.6 percent since the opening of Busan-Geoje fixed link. Eight cities of Yeungnam area including Busan-Ulsan and Daegu-Gyeongbuk has been directly affected by the changed route from GJ Bridge to BG Bridge. In order to compare the range of departure area for a one-day trip in Geoje tourist attractions before and after the new fixed link, duration variation of visitors is described as individual difference by normal distribution function. One-day tour trip model based on a circular trip is also suggested under comparatively simple supposition. Since average area after the opening is equal to maximum area before as minimum area after is equal to average area before, the effect of access improvement by the new bridge is revealed definitely. In addition, the effect of cities located in the middle and long distance is greater. Although cities proximity to Geoje are not influenced significantly, every citizen is capable of taking a one-day trip anywhere.

Beta-Meta: a meta-analysis application considering heterogeneity among genome-wide association studies

  • Gyungbu Kim;Yoonsuk Lee;Jeong Ho Park;Dongmin Kim;Wonseok Lee
    • Genomics & Informatics
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    • v.20 no.4
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    • pp.49.1-49.7
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    • 2022
  • Many packages for a meta-analysis of genome-wide association studies (GWAS) have been developed to discover genetic variants. Although variations across studies must be considered, there are not many currently-accessible packages that estimate between-study heterogeneity. Thus, we propose a python based application called Beta-Meta which can easily process a meta-analysis by automatically selecting between a fixed effects and a random effects model based on heterogeneity. Beta-Meta implements flexible input data manipulation to allow multiple meta-analyses of different genotype-phenotype associations in a single process. It provides a step-by-step meta-analysis of GWAS for each association in the following order: heterogeneity test, two different calculations of an effect size and a p-value based on heterogeneity, and the Benjamini-Hochberg p-value adjustment. These methods enable users to validate the results of individual studies with greater statistical power and better estimation precision. We elaborate on these and illustrate them with examples from several studies of infertility-related disorders.

Analysis of quantitative high throughput screening data using a robust method for nonlinear mixed effects models

  • Park, Chorong;Lee, Jongga;Lim, Changwon
    • Communications for Statistical Applications and Methods
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    • v.27 no.6
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    • pp.701-714
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    • 2020
  • Quantitative high throughput screening (qHTS) assays are used to assess toxicity for many chemicals in a short period by collectively analyzing them at several concentrations. Data are routinely analyzed using nonlinear regression models; however, we propose a new method to analyze qHTS data using a nonlinear mixed effects model. qHTS data are generated by repeating the same experiment several times for each chemical; therefor, they can be viewed as if they are repeated measures data and hence analyzed using a nonlinear mixed effects model which accounts for both intra- and inter-individual variabilities. Furthermore, we apply a one-step approach incorporating robust estimation methods to estimate fixed effect parameters and the variance-covariance structure since outliers or influential observations are not uncommon in qHTS data. The toxicity of chemicals from a qHTS assay is classified based on the significance of a parameter related to the efficacy of the chemicals using the proposed method. We evaluate the performance of the proposed method in terms of power and false discovery rate using simulation studies comparing with one existing method. The proposed method is illustrated using a dataset obtained from the National Toxicology Program.

Subjective Mismatch Determinants and Wage Effect of Youth Employees (청년취업자의 주관적 미스매치 결정요인 및 임금효과 분석)

  • Hwang, Kwanghoon
    • Korean Journal of Labor Studies
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    • v.24 no.2
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    • pp.181-214
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    • 2018
  • This study uses the youth panel survey (YP2007 2th ~ 9th) data of the Korea Employment Information Service to examine the phenomenon of subjective mismatch arising from the youth labor market and analyzed the determinants and wage effects of subjective mismatch. Overall, the analysis showed that the over-education and over-technology of both educational background and technical skill level in the Miss Match significantly decreased, while the lack of education and technology increased rather gradually. Next, the analysis of the determinants of downward employment(Excess of education and technology) showed that males were less likely to be downwardly employed(Excess of education and technology) than females, and in the status of workers, the probability of downward employment of regular and non-wage workers was lower than that of temporary/daily workers. Finally, as a result of estimating the wage effect of the mismatch based on the pooled OLS model and the Panel Fixed Effect model, the mismatch which has the greatest effect on the wage was found to be excessive education, and it has been estimated that youth employees who are over-educated have an average 6.7% lower wages than those who are not. After controlling for the unobserved individual characteristics, they were found to receive a lower wage of 3.2%, and it is estimated that 2.9% for the technical excess mismatch and 2.3% for the major mismatch receive lower wages than the reference group.

Seismic behavior of simplified electrical cabinet model considering cast-in-place anchor in uncracked and cracked concretes

  • Bub-Gyu Jeon;Sung-Wan Kim;Sung-Jin Chang;Dong-Uk Park;Hong-Pyo Lee
    • Nuclear Engineering and Technology
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    • v.55 no.11
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    • pp.4252-4265
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    • 2023
  • In the case of nuclear power plants near end of their design life, a reassessment of the performance of safetyrelated equipment may be necessary to determine whether to shut down or extend the operation of the power plant. Therefore, it is necessary to evaluate the level of performance decline due to degradation. Electrical cabinets, including MCC and switchgear, are representative safety-related equipment. Several studies have assessed the degradation and seismic performance of nuclear power plant equipment. Most of those researches are limited to individual components due to the size of safety-related equipment and test equipment. However, only a few studies assessed the degradation performance of electrical cabinets. The equipment of various nuclear power plants is anchored to concrete foundations, and crack in concrete foundations is one of the most representative of degradation that could be visually confirmed. However, it is difficult to find a study for analysis through testing the effect of cracks in concrete foundations on the response of electrical cabinet internal equipment fixed by anchors. In this study, using a simple cabinet model considering cast-in-place anchor in uncracked and cracked concretes, a tri-axial shaking table tests were performed and the seismic behavior were observed.

A Longitudinal Analysis of Factors Affecting Language Development in Infants (영아의 언어발달 영향요인에 관한 종단 분석)

  • Kim, Minseok;Hu, Yunyun;Wang, Wenhui
    • The Journal of the Korea Contents Association
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    • v.19 no.3
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    • pp.457-465
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    • 2019
  • The purpose of this study is to identify factors that affect the language development of infants. For the analysis, data of three years from the first year (2008) to the third year (2010) of the 'Panel Study on Korean Children (PSKC)' were constructed and panel analysis was conducted. The subjects were 2,150 infants who participated in the questionnaire, and the language development of the infants was measured using the communication scores of the K-ASQ test provided by the Korean children's panel. In addition, the factors influencing the language development of infants derived from previous studies were introduced into the model. As a result of the analysis, it is shown that the fixed effect model with fixed individual error of the panel is suitable through the Hausman test. The higher the cognitive development level of the infant, the more positive parenting behavior of the infant, respectively. The conclusions and suggestions about the characteristics of the parents and the parents affecting language development were introduced.

Longitudinal Analysis of Body Weight and Feed Intake in Selection Lines for Residual Feed Intake in Pigs

  • Cai, W.;Wu, H.;Dekkers, J.C.M.
    • Asian-Australasian Journal of Animal Sciences
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    • v.24 no.1
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    • pp.17-27
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    • 2011
  • A selection experiment for reduced residual feed intake (RFI) in Yorkshire pigs consisted of a line selected for lower RFI (LRFI) and a random control line (CTRL). Longitudinal measurements of daily feed intake (DFI) and body weight (BW) from generation 5 of this experiment were used. The objectives of this study were to evaluate the use of random regression (RR) and nonlinear mixed models to predict DFI and BW for individual pigs, accounting for the substantial missing information that characterizes these data, and to evaluate the effect of selection for RFI on BW and DFI curves. Forty RR models with different-order polynomials of age as fixed and random effects, and with homogeneous or heterogeneous residual variance by month of age, were fitted for both DFI and BW. Based on predicted residual sum of squares (PRESS) and residual diagnostics, the quadratic polynomial RR model was identified to be best, but with heterogeneous residual variance for DFI and homogeneous residual variance for BW. Compared to the simple quadratic and linear regression models for individual pigs, these RR models decreased PRESS by 1% and 2% for DFI and by 42% and 36% for BW on boars and gilts, respectively. Given the same number of random effects as the polynomial RR models, i.e., two for BW and one for DFI, the non-linear Gompertz model predicted better than the polynomial RR models but not as good as higher order polynomial RR models. After five generations of selection for reduced RFI, the LRFI line had a lower population curve for DFI and BW than the CTRL line, especially towards the end of the growth period.