• 한국자기학회지
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• 제18권1호
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• pp.36-38
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• 2008

축약 각운동량 전개(Reduced Angular Momentum Expansion) 을 사용하여 산란 진폭을 계산하였고, 평면파 근사와 비교하였다. Wentzel-Kramers-Brillouin(WKB) 방법을 써서 각 운동량이 영이 아닌 초기 파동의 곡률 효과를 주는 항이 광전자 또는 오제(Auger) 전자의 원심 퍼텐셜 에너지(centrifugal potential energy) 항이 됨을 보였으며, 이항은 평면파 근사에서 각 운동량에 의존하는 유효 파수 벡터가 됨을 보였다. 산란 진폭과 각 운동량과 관계를 구체적으로 보였다.

• 산업융합연구
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• 제20권11호
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• pp.75-83
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• 2022

본 연구는 투자자 심리와 유동성이 우리나라 주식시장에서 모멘텀현상을 설명하는지와 자산가격결정모형에 대한 위험 요소인지를 분석하는 것이다. 실증분석은 2000~2021년 기간 동안 유가증권시장에 상장된 비금융기업의 월별 수익률을 사용하였다. 분석 결과 첫째, 우리나라의 경우 모멘텀 효과가 존재하는 것으로 나타났다. 이는 기존 연구와 같은 결과로 2000년 이후 우리나라 주식시장에서 모멘텀효과가 일반적인 현상으로 받아들여지고 있다. 둘째, 투자자 심리를 기준으로 구성된 포트폴리오를 보면 투자자의 심리가 모멘텀에 영향을 미치고 있다. 특히 투자자 심리가 부정적일 때 승자포트폴리오의 수익률이 높게 나타나고 있다. 셋째, 유동성을 바탕으로 분석한 결과 모멘텀효과는 사라지고 반전효과가 나타난다. 넷째, 투자자 심리와 유동성이 모멘텀효과에 영향을 주는 것으로 나타났다. 투자자 심리가 부정적이고, 비유동적인 주식집단에서 모멘텀효과가 강하게 보이는 결과이다. 다섯째, 주식수익률에 각 요인이 주는 영향을 분석해 본 결과, 투자자의 심리와 유동성 요인 모두가 수익률에 상당한 영향을 미치는 것으로 나타났다. 추정된 결과는 Carhart 4요인 모형에 이 두 요소를 포함하면 모형의 예측력이 상당히 증가한다는 증거를 제공한다. 따라서 투자자 심리요인과 유동성 요인이 주식수익률결정에 중요한 요인이라 할 수 있다.

• The Journal of Asian Finance, Economics and Business
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• 제8권2호
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• pp.711-724
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• 2021

The purpose of this paper is to investigate the profitability of the momentum effects on the Oman Stock Market (OSM). This study uses the monthly returns of all stocks listed on the OSM, with a total of 107 companies used in the study for the period from 2005 to 2018. According to the methodology developed by Jegadeesh and Titman (1993), this study builds momentum portfolios based on various sizes. Moreover, the January effect is also examined to recognize if this effect is related to the momentum effect. The results find that there is evidence of momentum returns and these returns are statistically and economically significant. The sub-periods confirmed the profitability of the momentum strategy. This paper shows that momentum returns are evident at different sizes; big, medium, and small-sized portfolios. Besides, the result shows that the classic January effect does not play an important role in the momentum returns. Thus, the implication is that the momentum should not take into account the annual, seasonal, and size returns. The capital asset pricing model (CAPM) or the three-factor model cannot explain momentum returns generated by individual stocks in the Oman Stock Market. These results are useful to academia and investors alike.

• 천문학회보
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• 제44권1호
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• pp.70.2-70.2
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• 2019

Strong radiation fields can change the ionization state of metals and hence cooling rates. In order to understand their effects on the momentum transfer from radiation and supernova feedback, we perform a suite of radiation-hydrodynamic simulations with radiation-modulated metal cooling. For this purpose, we pre-tabulate the metal cooling rates for a variety of spectral shapes and flux levels with the spectral synthesis code, Cloudy, and accurately determine the rates based on the local radiation field strength. We find that the inclusion of the radiation-modulated metal cooling decreases the total radial momentum produced by photo-ionization heating by a factor of ~3 due to enhanced cooling at temperature T~10^3-4 K. The amount of momentum transferred from the subsequent SN explosions, however, turns out to be little affected by radiation, as the main cooling agents at T~10^5-6 K are only destroyed by soft X-ray radiation which is generally weak. We further discuss the total momentum budget in various conditions.

• 아태비즈니스연구
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• 제10권3호
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• pp.37-51
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• 2019

In this paper, we investigate the performance of anomaly factors in Asia-Pacific Stock market and show the higher Sharpe ratio of the volatility managed smart beta portfolio. The smart beta portfolio combines the benefit of passive strategy and active strategy. However, the smart beta portfolios are seems to be exposed to the risk of anomaly factors from the perspective of traditional financial equilibrium model. Therefore, the smart beta strategy may generate negatively skewed returns unappealing to investors having lower risk tolerance. Our empirical investigations find that the return of the Asia-Pacific region stock market is more volatile than other regions with the lower efficiency ratio. However, the value factor and the momentum factor of Asia-Pacific region both show good performances. More interestingly, we also find that managing the volatility of the momentum factor in Asia-Pacific stock market almost doubles the efficiency ratio.

• 설비공학논문집
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• 제19권3호
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• pp.220-227
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• 2007

Heat transfer and momentum transfer under conditions of both oscillating flow and oscillating pressure within pulse tubes show very different behavior from those for steady state conditions. The analytic solutions of axial velocity and temperature of the gas within pulse tubes were obtained by assuming that the variations in pressure and temperature were purely sinusoidal and small. The shear stress and the heat flux at the tube wall obtained from the solutions are expressed in terms of the cross-sectional averaged velocity, the difference between mean temperature and instantaneous cross-sectional averaged temperature and the difference between mean pressure and instantaneous pressure. It is shown that the complex shear factor, which has been applied to momentum transfer of incompressible oscillating flow, and the complex Nusselt number, which has been applied to either heat transfer with oscillating pressure only or heat transfer of incompressible oscillating flow, could also be used for momentum transfer and heat transfer subjected to both oscillating flow and oscillating pressure, respectively.

• Nuclear Engineering and Technology
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• 제33권4호
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• pp.409-422
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• 2001

The dynamic character of a system of the governing differential equations for the one- dimensional two-fluid model, where the momentum flux parameters are employed to consider the velocity and void fraction distribution in a flow channel, is investigated. In response to a perturbation in the form of a＇traveling wave, a linear stability analysis is peformed for the governing differential equations. The expression for the growth factor as a function of wave number and various flow parameters is analytically derived. It provides the necessary and sufficient conditions for the stability of the one-dimensional two-fluid model in terms of momentum flux parameters. It is demonstrated that the one-dimensional two-fluid model employing the physical momentum flux parameters for the whole range of dispersed flow regime, which are determined from the simplified velocity and void fraction profiles constructed from the available experimental data and $C_{o}$ correlation, is stable to the linear perturbations in all wave-lengths. As the basic form of the governing differential equations for the conventional one-dimensional two-fluid model is mathematically ill posed, it is suggested that the velocity and void distributions should be properly accounted for in the one-dimensional two-fluid model by use of momentum flux parameters.s.

• Nuclear Engineering and Technology
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• 제37권6호
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• pp.595-604
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• 2005

A new instrument, an average BDFT (Birectional Flow Tube), was proposed to measure the flow rate in single and two phase flows. Its working principle is similar to that of the Pilot tube, wherein the dynamic pressure is measured. In an average BDFT, the pressure measured at the front of the flow tube is equal to the total pressure, while that measured at the rear tube is slightly less than the static pressure of the flow field due to the suction effect downstream. The proposed instrument was tested in air/water vertical and horizontal test sections with an inner diameter of 0.08m. The tests were performed primarily in single phase water and air flow conditions to obtain the amplification factor(k) of the flow tube in the vertical and horizontal test sections. Tests were also performed in air/water vertical two phase flow conditions in which the flow regimes were bubbly, slug, and churn turbulent flows. In order to calculate the phasic mass flow rates from the measured differential pressure, the Chexal drift-flux correlation and a momentum exchange factor between the two phases were introduced. The test results show that the proposed instrument with a combination of the measured void fraction, Chexal drift-flux correlation, and Bosio & Malnes' momentum exchange model could predict the phasic mass flow rates within a $15\%$ error. A new momentum exchange model was also proposed from the present data and its implementation provides a $5\%$ improvement to the measured mass flow rate when compared to that with the Bosio & Malnes' model.

• 한국융합학회논문지
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• 제6권4호
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• pp.127-132
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• 2015

본 연구는 한국 주식시장에서 가치투자 전략과 연계해 모멘텀 투자전략의 유효성을 분석하였다. 본 연구는 2001년~2014년 동안 한국 주식시장의 상장기업의 주가 및 재무자료를 실증 분석해, 과거 승자 주를 매수하고 패자 주를 매도하는 모멘텀 투자전략과 장부가/시가 비율이 높은 가치주를 매수하고 장부가/시가 비율이 낮은 글래머주를 매도하는 가치 투자전략의 유효성이 기간별로 서로 다르며, 전체 분석기간에 걸쳐 역(-)의 상관관계가 있음을 관찰하였다. 또한 Fama and French[1]가 개발한 3 요인 회귀분석 모형을 추정해, 모형의 절편이 유의적인 양(+)의 값으로 추정됨을 관찰함으로써, 역(-)의 상관관계로 인해 상호 대체관계에 있는 모멘텀 투자전략과 가치 투자전략을 하나의 시스템으로 분석할 때, 모멘텀 투자전략이 세계 주요 증권시장에서와 마찬가지로 한국 증권시장에서도 유효함을 분석하였다.

• 대한기계학회논문집B
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• 제28권10호
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• pp.1247-1254
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• 2004

In momentum exchange theory the loss models for the circulatory flow is critically important. But because of lack of loss model on the circulatory flow, analysis model on regenerative turbomachines is not available in the open literature. In the present study circulatory loss is evaluated by combining bend's losses. Through the comparison with the previous experimental data on linear pressure gradient, a combination factor is suggested in terms of the aspect ratio of a channel. Applying this factor to two kinds of regenerative blowers the predicted results are found to be in good agreement with the experimental data of the overall performance and the head distribution along the rotational direction. Especially, the comparison with the head distribution demonstrates the accuracy of hydraulic model and loss model suggested in the present study. And the comparison with the overall performance confirms the validness of physical models as well as loss models suggested in the present study.