• 제목/요약/키워드: Preferred Stock

검색결과 30건 처리시간 0.025초

보통주와 우선주간의 가격괴리율 결정요인에 관한 실증분석 (The Determinants of Price Differential between Common and Preferred Stock)

  • 남기석;임채창
    • 경영과정보연구
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    • 제28권3호
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    • pp.25-44
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    • 2009
  • 본 연구는 무의결권 우선주와 보통주간의 주가괴리율의 실태와 아울러 주가괴리율에 영향을 미치는 요인에 대해 알아보고자 하였다. 이를 위하여 국내 증권거래소에 상장된 106개 기업 우선주를 대상으로 2006년 1월부터 2008년 12월말까지 우선주와 보통주간의 주가괴리율이 나타나는 결정요인에 대해 분석하였다. 본 연구의 분석결과를 종합하면 다음과 같다. 첫째, 유보율의 경우 대체로 유의수준 5%하에서 유의하나 예상과는 달리 주가괴리율과는 정반대의 관계를 갖는 것으로 나타났다. 둘째, 자본금 변수는 대체로 유의수준 1% 하에서 유의한 것으로 나타났다. 셋째, 우선주 발행비중은 모든 모형에 걸쳐 유의수준 5% 하에서 유의적인 것으로 나타났다. 넷째, 매매회전율은 평균 주가괴리율을 종속변수로 한 모든 모형에서 유의수준 5%하에서 유의한 것으로 나타났다. 최근의 주가괴리율은 기업규모와 우선주의 발행비중, 그리고 매매회전율에 의해 설명되는 측면이 많다고 볼 수 있다. 특히 우선주의 발행비중은 그 영향력이 가장 클 뿐 아니라 일관된 유의성을 보이고 있어 발행비중의 조절을 통해 주가괴리율이 어느 정도 해소될 수 있는 가능성을 시사하고 있다.

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육수 개발을 위한 수조육류 및 부재료의 최적 배합비율에 관한 연구 (Study on Appropriate Mixing Ratios of Various Animal Meats with Other Ingredients to Improve the Palatability of Stock)

  • 신명은;이경희
    • 한국식생활문화학회지
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    • 제26권4호
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    • pp.409-415
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    • 2011
  • The objective of this study was to develop a stock that can be used to make a variety of dishes. For this, stock was prepared with beef, chicken, and pork meat as animal meats as well as anchovy, mushroom, and sea tangle as other ingredients. The qualities of six[only four though] kinds of stocks made with beef only (B), beef and chicken (BC), beef and pork (BP), and beef added with chicken and pork (BCP), and seven kinds of stocks made with anchovy (A), mushroom (M), sea tangle (S), anchovy and mushroom (AM), anchovy and sea tangle (AS), mushroom and sea tangle (MS), and anchovy added with mushroom and sea tangle (AMS) were investigated by sensory evaluation. The most preferred stock made with animal meat was mixed with the most preferred stock made with other ingredients at a 5% level to test the synergistic effects of palatability. As a result, BCP stock and AMS stock obtained the highest scores for overall preference. BCP stock within the range of 30%-65% along with the mixed stock containing AMS (35%-70%) showed synergistic effects for palatability.

우선주가격 및 수익률 결정요인에 관한 연구 (Determinants of the Prices and Returns of Preferred Stocks)

  • 김산;원재환;원영웅
    • 아태비즈니스연구
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    • 제11권2호
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    • pp.159-172
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    • 2020
  • Purpose - The purpose of this study is to investigate economic variables which have impact on the prices and returns of preferred stocks and to provide investors, underwriters, and policy makers with information regarding correlations and causal relations between them. Design/methodology/approach - This study collected 98 monthly data from Korea Exchange and Bank of Korea. The Granger causal relation analysis, unit-root test and the multiple regression analysis were hired in order to analyze the data. Findings - First, our study derives the economic variables affecting the prices and returns of preferred stocks and their implications, while previous studies focused mainly on the differential characteristics and related economic factors between common and preferred stocks. Empirical results show that the significant variables influencing the prices and returns of preffered stocks are consumer sentiment index, consumer price index, industrial production index, KOSPI volatility index, and exchange rate between Korean won and US dollar. Second, consumer sentiment index, consumer price index, and industrial production index have significant casual relations with the returns of preferred stocks, providing market participants with important information regarding investment in preferred stocks. Research implications or Originality - This study is different from previous studies in that preferred stocks themselves are investigated rather than the gap between common stocks and preferred stocks. In addition, we derive the major macro variables affecting the prices and returns of preferred stocks and find some useful causal relations between the macro variables and returns of preferred stocks. These findings give important implications to market participants, including stock investors, underwriters, and policy makers.

소스(Sauce)의 인식과 기호도 및 품질요인에 대한 평가분석 (An Evaluation of the Recognition, Preferences and Quality Factors on Sauces)

  • 김현덕;이연정;한재숙
    • 동아시아식생활학회지
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    • 제12권3호
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    • pp.197-209
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    • 2002
  • This study was performed to investigate and analyze the level of recognition, preferences and quality factors of sauces. A total of 1,340 subjects, 660 males and 680 females in the Daegu and Kyeongbuk areas participated in a questionnaire for this study. The results were summarized as follows: Among the respondents, 41.1% answered that they learned about the sauces from a western style restaurant. 73.4% of the respondents suggested that the taste and the quality of sauces had an influence on their preferences of western dishes. 51.2% of the respondents recognized that sauces are mainly used when baking and broiling; it was widely known that demiglace sauce is used on steaks. The preferred colors of sauces from most popular to least popular were brown, blond, white, yellow and red. The overall favorite stock material of demiglace sauce was beef bone. Foods that were preferred to be served with sauces were found to be beef, pea seafood, fish, shellfish, poultry and cereals from most preferred to least preferred. The favorite sauces were brown stock sauce, tomato sauce, liquor sauce, and cream sauce from most preferred to least preferred. The oil and butter sauces were preferred the least. Using a scale of 1 to 5 with 5 being the highest, the respondents rated the way sauces were cooked as the most important the quality-determining factor, with a mean value of 4.31. The raw ingredient as the most important factor was rated 4.45. Among sensory factors, the respondents agreed taste was that the most important characteristic, with a mean value of 4.65. 36.0% evaluated the overall quality of sauces as good and 47.0% as ordinary when served with western dishes. 44.1% of the respondents stated that the taste is was the topmost characteristic that needed to be improved, and that flavor and color were next in order.

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Brown stock 추출방식에 따른 품질 특성에 관한 연구 (The Quality Characteristics of Brown Stock Prepared by Different Methods)

  • 최수근;최희선;이재성;김선희
    • 한국조리학회지
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    • 제7권3호
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    • pp.45-56
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    • 2001
  • The HPC(High Pressure Cooking) method and the traditional method of brown stock preparation are compared in terms of gelatin, free amino acid and sensory evaluation. The HPC outperform the traditional method. In addition, free amino acid content of brown stock increased when HPC method is applied. In traditional method, however, the contents of free amino acids gradually increased in proportion to the length of heating times. When the HPC method is used for brown stock, the level of alanine and methionine were relatively higher than that of traditional method. In order to measure the quality of brown stock made from different methods, the highly qualified chefs were selected. They favoured the taste and smell made from HPC while they preferred traditional approach to HPC in terms of stickiness and appearance(colour). It is turned out that five hours is the most appropriate heating time for HPC method to obtain the maximum extraction of amino acid. The results suggest that the quality of brown stock from HPC method is not at all inferior to that of traditional brown stock while the HPC approach can improve the level of productivity by saving the labour cost, food cost and time.

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Lunar Effect on Stock Returns and Volatility: An Empirical Study of Islamic Countries

  • MOHAMED YOUSOP, Nur Liyana;WAN ZAKARIA, Wan Mohd Farid;AHMAD, Zuraidah;RAMDHAN, Nur'Asyiqin;MOHD HASAN ABDULLAH, Norhasniza;RUSGIANTO, Sulistya
    • The Journal of Asian Finance, Economics and Business
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    • 제8권5호
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    • pp.533-542
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    • 2021
  • The main objective of this article is to investigate the existence of the lunar effect during the full moon period (FM period) and the new moon period (NM period) on the selected Islamic stock market returns and volatilities. For this purpose, the Ordinary Least Squares model, Autoregressive Conditional Heteroscedasticity model, Generalised Autoregressive Conditional Heteroscedasticity model and Generalised Autoregressive Conditional Heteroscedasticity-in-Mean model are employed using the mean daily returns data between January 2010 and December 2019. Next, the log-likelihood, Akaike Information Criterion and Schwarz Information Criterion value are analyzed to determine the best models for explaining the returns and volatility of returns. The empirical results have deduced that, during the NM period, excluding Malaysia, the total mean daily returns for all of the selected countries have increased mean daily returns in contrast to the mean daily returns during the FM period. The volatility shocks are intense and conditional volatility is persistent in all countries. Subsequently, the volatility behavior tends to have lower volatility during the FM period and NM period in the Islamic stock market, except Malaysia. This article also concluded that the ARCH (1) model is the preferred model for stock returns whereas GARCH-M (1, 1) is preferred for the volatility of returns.

토마토 첨가량을 달리한 산천어 육수의 품질 특성 (Quality Characteristics of Oncorhynchus masou Stock Containing Various Amounts of Tomato)

  • 김기쁨;김용식;최수근
    • 동아시아식생활학회지
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    • 제22권6호
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    • pp.826-835
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    • 2012
  • This study was conducted to examine the quality characteristics of Oncorhynchus masou stock containing various amounts of tomato (2%, 4%, 6%, 8% and 10%). To accomplish this, the moisture contents, Hunter's color value, pH, salinity, sugar contents, free sugar contents, minerals and free amino acid were measured. The b value decreased, while the L value, a value, pH, salinity, sugar contents, total sugar (fructose, glucose, sucrose) and minerals (Na, Mg, K, Ca, Fe) increased as the ratio of tomato increased. A total of 33 free amino acids were detected, and the amino acid content increased as the ratio of tomato increased. Investigation of different attributes revealed that tomato content significantly affected color intensity, savory flavor and tomato taste. In the acceptance test, stock containg 8% tomato was preferred for flavor, taste, texture and overall quality ; therefore, this was taken as the optimal tomato content for maximizing the overall quality of Oncorhynchus masou stock.

사과산 첨가량에 따른 오리 육수의 품질 특성 (Quality Characteristics of Duck Stock by the Addition of Malic Acid)

  • 김기쁨;김동석;송정식;최수근
    • 동아시아식생활학회지
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    • 제21권2호
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    • pp.263-271
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    • 2011
  • This study was performed to develop duck stock using various nutritional elements in duck bone by the addition of malic acid (0.5%, 1.0%, 1.5% and 2.0%). Moisture contents, b value, and pH were decreased, while the L value, a value, salinity, and sugar contents were increased by increasing the ratio of malic acid. Thirty four types of free amino acid were detected, and the highest individual amino acid content was 1.0%. In a test for different attributes, malic acid content significantly affected properties including color intensity, transparency, acid flavor, savory flavor, acid taste, and savory taste. In the acceptance test, a malic content of 1.0% was preferred for appearance, taste, and overall quality. The optimal malic acid content for maximizing the overall quality of duck stock was 1.0%.

Basic Seed Stock Maintenance and Multiplication in Indian Tropical Tasar Silkworm Antheraea mylitta Drury-A Strategic Approach

  • Reddy, Rangareddygari Manohar;Suryanarayana, Nagabathula;Ojha, Nand Gopal;Hansda, Ganga;Rai, Suresh;Prakash, Nanjappa Basappa Vijaya
    • International Journal of Industrial Entomology and Biomaterials
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    • 제18권2호
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    • pp.69-75
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    • 2009
  • Daba ecorace of Antheraea mylitta Drury (Lepidoptera: Saturniidae), the semi domesticated Indian tropical tasar silkworm being reared outdoor; the egg and silk yields are dependent of genotype environment interaction. The insufficient maintenance and multiplication of its P4 seed stock need a coherent as well as scientific strategy to safeguard breed potential, being commercially applied ecorace. The sort-out lines of P4 stock studied over five generations highlighting on commercial trait up gradation suits for a tropical crop season, revealed enhanced performance. The line with high pupal parents (T2) shown improved fecundity (12.9%) and the line with high shell parents (T3) recorded higher shell weight (40.0%) and silk ratio (24.1%). While, the line of high pupal female and high shell male (T4) reveal enhancement in fecundity (9.0%), egg hatching (14.1%), shell weight (50.0%), silk ratio (35.2%) and absolute silk yield (52.0%) indicating the need and role of varied basic seed stock lines. The approach could improve economically vital egg fecundity and cocoon shell weights besides balancing them in same line for commercial operation. The progressive show of lines (T1 to T4) along successive generations (G1 to G5), in spite of passing through seed crop (Jul-Aug) and commercial crop (Sep-Nov) seasons emphasize their compatibility. The study infers that the strategic plan of combining preferred parental phenotypes, methodical selection for desired commercial trait(s) through generations with best possible genotype environment interaction has enriched P4 stock with elevation in needy trait(s) besides assuring choice of suitable lines for seasons and regions and timely replenishment of basic seed of Daba ecorace.

토마토 첨가량을 달리한 대구뼈 육수의 품질특성에 관한 연구 (Quality Characteristics of Cod Bone Stock Containing Various Amounts of Tomatoes)

  • 윤학봉;김기쁨;노재승;최수근
    • 한국조리학회지
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    • 제19권4호
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    • pp.231-242
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    • 2013
  • 본 연구는 다양한 영양성분을 가지고 있는 대구뼈에 토마토 첨가량(0, 2, 4, 6, 8%)을 달리하여 대구뼈 육수를 개발하는 데 그 목적이 있다. 토마토 첨가량이 증가할수록 염도, 당도, a, b 값과 Mg, K, Ca의 함량은 높아졌고, 반면에 수분, pH, L값과 Na 함량은 낮아졌다. 14종의 아미노산이 검출되었으며, 토마토 6%를 첨가한 대구뼈 육수의 총 아미노산 함량이 가장 높았다. 특성차이검사 결과 토마토 첨가량이 증가할수록 색의 강도, 구수한 향, 토마토의 향, 토마토의 맛, 감칠맛과 후미는 유의적으로 강하다고 평가되었다. 기호도 검사 결과 외관, 향, 맛, 텍스처와 전체적인 기호도에서 토마토 6%를 첨가한 것이 가장 선호되었다. 따라서 대구뼈 육수의 최적의 토마토 첨가비율은 6%임을 확인 할 수 있었다.

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