• The Journal of Asian Finance, Economics and Business
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• v.8 no.2
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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.

• Nuclear Engineering and Technology
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• v.33 no.4
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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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• v.54 no.4
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• pp.1495-1507
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• 2022

The improvement of thermal-hydraulic analysis techniques is essential to ensure the safety and reliability of nuclear power plants. The one-dimensional two-fluid model has been adopted in state-of-the-art thermal-hydraulic system codes. Current constitutive equations used in the system codes reach a mature level. Some exceptions are the partition method of wall friction in the momentum equation of the two-fluid model and the interfacial drag force model for a horizontal two-phase flow. This study is focused on deriving the partition method of wall friction in the momentum equation of the two-fluid model and modeling the interfacial drag force model for a horizontal bubbly flow. The one-dimensional momentum equation in the two-fluid model is derived from the local momentum equation. The derived one-dimensional momentum equation demonstrates that total wall friction should be apportioned to gas and liquid phases based on the phasic volume fraction, which is the same as that used in the SPACE code. The constitutive equations for the interfacial drag force are also identified. Based on the assessments, the Rassame-Hibiki correlation, Hibiki-Ishii correlation, Ishii-Zuber correlation, and Rassame-Hibiki correlation are recommended for computing the distribution parameter, interfacial area concentration, drag coefficient, and relative velocity covariance of a horizontal bubbly flow, respectively.

• Proceedings of the Korean Nuclear Society Conference
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• 1996.05b
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• pp.108-113
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• 1996

Several analytical models for the departure from nucleate boiling (DNB) phenomenon have been developed during the last decade. Among these, Chang & Lee's model based on a bubble crowding mechanism is remarkable in the fundamental features characterized as the formulation of mass, energy, and momentum balance equation at thermal-hydraulic conditions leading to the DNB. However, Bricard and Souyri remarked that the assumption of stagnant bubbly layer at the DNB condition is questionable and the signs on the axial projections of the momentum fluxes at the core/bubbly layer interface in the momentum balance equations are erroneous. From this remark, Chang & Lee's model has been re-examined and modified by correcting the erroneous treatments in the momentum balance equations and removing the spurious assumptions. The revised model predicts well the extensive DNB data of water in uniformly heated tubes at low qualities and shows more accurate prediction compared with the original model.

• Transactions of the Korean Society of Mechanical Engineers
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• v.18 no.2
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• pp.405-413
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• 1994

This paper presents the experimental results of aerodynamic drags of model cars. The effects of cooling air on total drag were introduced by using momentum theorem. Vehicle-liked Ahmed body and 1/5 model car were used to evaluate the increments of drags due to the internal flow. The results were compared with momentum theorem and other's experiments and showed good agreements. In the case of Ahmed body, drags were increased by 22% due to the internal flow and decreased linealy by reducing internal air flow rates and inlet areas. The experiments on 1/5 model car with ill-defined air flow passage showed 10% increment of drag. The results of present study showed that cooling drag could be predicted by momentum theorem within small errors.

• International Journal of Aeronautical and Space Sciences
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• v.10 no.2
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• pp.125-133
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• 2009

To numerically simulate aerodynamics of rotor-airframe interaction in a rigorous manner, we need to solve the Navier-Stokes system for a rotor-airframe combination as a whole. This often imposes a serious computational burden since rotating blades and a stationary body have to be simultaneously dealt with. An efficient alternative is to adopt a momentum source method in which the action of rotor is approximated as momentum source over a rotor disc plane in a stationary computational domain. This makes the simulation much simpler. For unsteady simulation, the instantaneous momentum sources are assigned only to a portion of disk plane corresponding to blade passage. The momentum source is obtained by using blade element theory with dynamic inflow model. Computations are carried out for the simple rotor-airframe model (the Georgia Tech model) and the results of the simulation are compared with those of the full Navier-Stokes simulation with moving mesh system for rotor and with experimental data. It is shown that the present simulation yields results as good as those of the full Navier-Stokes simulation.

• Journal of Welding and Joining
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• v.26 no.4
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• pp.61-65
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• 2008

The static force balance model (SFBM) has been used to analyze drop transfer in gas metal arc welding. Although the SFBM is capable of predicting the detaching drop size in the globular mode with reasonable accuracy, discrepancy between the calculated and experimental results increases with current. In order to reduce discrepancy, the SFBM is modified by considering the momentum of the molten metal flow, which is generated by the pinch pressure. The momentum increases with smaller drop size and becomes compatible to the electromagnetic force. The modified force balance model (MFBM) predicts the experimental results more accurately, and extends its application to the projected mode.

• Journal of Industrial Convergence
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• v.20 no.11
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• pp.75-83
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• 2022

This study analyzes whether investor sentiment and liquidity explain the momentum phenomenon in the Korean stock market and whether it is a risk factor for the asset pricing model. The empirical analysis used the monthly returns of non-financial companies listed on the stock market during the period 2000-2021. As a result of the analysis, first, it was found that there is a momentum effect in Korea. This is the same result as the previous study, and since 2000, the momentum effect has been accepted as a general phenomenon in the Korean stock market. Second, if we look at the portfolio based on investor sentiment, investor sentiment is influencing momentum. In particular, when investor sentiment is negative, the return on the winner portfolio is high. Third, as a result of the analysis based on liquidity, the momentum effect disappears and a reversal effect appears. Fourth, it was found that investor sentiment and liquidity influence the momentum effect. This is a result of the strong momentum effect in the illiquid stock group with negative investor sentiment. Fifth, as a result of analyzing the effect of each factor on stock returns, it was found that both investor psychology and liquidity factors have a significant impact on returns. The estimated results provide evidence that the inclusion of these two factors in the Carhart four-factor model significantly increases the predictive power of the model. Therefore, it can be said that investor sentiment factors and liquidity factors are important factors in determining stock returns.

• Proceedings of the KSME Conference
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• 2005.11a
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• pp.60.2-60.2
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• 2005

• The Bulletin of The Korean Astronomical Society
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• v.45 no.1
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• pp.52.1-52.1
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• 2020

We propose semi-analytic models for the electron momentum distribution in weak shocks that accounts for both in situ acceleration and reacceleration through diffusive shock acceleration (DSA). In the former case, a small fraction of incoming electrons is assumed to be reflected at the shock ramp and pre-accelerated to the so-called injection momentum, pinj, above which particles can diffuse across the shock transition and participate in the DSA process. This leads to the DSA power-law distribution extending from the smallest momentum of reflected electrons, pref, all the way to the cutoff momentum, peq, constrained by radiative cooling. In the latter case, fossil electrons, specified by a power-law spectrum with a cutoff, are assumed to be re-accelerated from pref up to peq via DSA. We show that, in the in situ acceleration model, the amplitude of radio synchrotron emission depends strongly on the shock Mach number, whereas it varies rather weakly in the re-acceleration model.