• 제목/요약/키워드: Short-Term

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Capital Structure of Malaysian Companies: Are They Different During the COVID-19 Pandemic?

  • MOHD AZHARI, Nor Khadijah;MAHMUD, Radziah;SHAHARUDDIN, Sara Naquia Hanim
    • The Journal of Asian Finance, Economics and Business
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    • 제9권4호
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    • pp.239-250
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    • 2022
  • This study examined the level of capital structure and its determinants of publicly traded companies in Malaysia before and after the COVID-19 pandemic. The data for this study was examined using Python Programming Language and time-series financial data from 2,784 quarterly observations in 2019 and 2020. The maximum debt is larger before the COVID-19 period, according to the findings. During the COVID-19 period, short-term debts and total debts have both decreased slightly. However, long-term debts have increased marginally. As a result, this research demonstrates that the capital structure has changed slightly during the COVID-19 period. The findings imply that independent of the capital structure proxies, tangibility, liquidity, and business size had an impact on capital structure in both periods. It was found that profitability had a significant impact on total debts both before and after the COVID-19 crisis. While higher-profit enterprises appear to have lesser short-term debts before the COVID-19 periods, they are also more likely to have lower long-term debts during the COVID-19 periods. Even though growing companies tend to have higher short-term debts and thus total debts during those periods, longterm debts are unaffected by potential growth.

Leverage and Bankruptcy Risk - Evidence from Maturity Structure of Debt: An Empirical Study from Vietnam

  • NGUYEN, Thi Thanh;KIEN, Vu Duc
    • The Journal of Asian Finance, Economics and Business
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    • 제9권1호
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    • pp.133-142
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    • 2022
  • This study examines the relationship between debt maturity structure and bankruptcy risk. There are various studies of leverage's effect on bankruptcy risk. Debt maturity, however, has not received the attention it deserves, especially in emerging markets with a high degree of information asymmetry. Using Vietnamese listed company data and various estimations, we find that leverage is positively associated with the likelihood of default. Importantly, short-term leverage shows a significantly positive effect on bankruptcy risk, while long-term leverage does not show significant results. The findings highlight that rollover risk firms are exposed to when using short-term debt increases bankruptcy risk. Meanwhile, firms do not cope with this risk in case of long-term debt adoption. High information asymmetry in emerging markets may be the main reason for the difference. The result is robust for subsamples of firms in different financial conditions, in concentrated and competitive industries, as well as for manufacturing and non-manufacturing companies. We also find that firms in a better financial situation and concentrated industries experience a higher short-term leverage effect than their counterparts. We, however, do not find a significant difference in the impact between manufacturing and non-manufacturing companies. This paper is among the first to examine the relation between debt maturity and bankruptcy risk in Vietnam.

Effects of Long- and Short-term Consumption of Energy Drinks on Anxiety-like, Depression-like, and Cognitive Behavior in Adolescent Rats

  • Lee, Joo Hee;Lee, Jong Hyeon;Choi, You Jeong;Kim, Youn Jung
    • Journal of Korean Biological Nursing Science
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    • 제22권2호
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    • pp.111-118
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    • 2020
  • Purpose: The purpose of this study was to understand the impact of long- and short-term energy drinks on anxiety-like, depressionlike, and cognitive behavior in adolescent rats. Methods: Adolescent rats (age six weeks) were randomly classified into a control group (CON), a long-term administration group (LT), and a short-term administration group (ST). The LT group was orally administered 1.5 mL/100 g (body weight) of energy drink twice daily for 14 days, the ST group was orally administered for one day, and the control group applied the same amount of normal saline. Later, an open-field test, a forced swim test, novel object recognition test, and an 8-arm radial maze test was conducted to assess the rats' anxiety, depression, and cognitive function. Results: There were different effects in the long- and short-term groups of energy drink administration. In the LT group, anxiety- and depressive-like behavior increased because of increased movement in the side corner and decrease of immobility time. Also, the time to explore novel objects decreased, and the number of correct responses was reduced, indicating a learning and memory function disorder. However, the ST group was not different from the control group. Conclusion: These results indicate that long-term consumption of energy drinks can increase anxiety-like, depression-like behavior, and this can lead to decrease in learning and memory functions. Thus, nurse and health care providers should understand the impact of energy drink consumption in adolescence to provide appropriate practices and education.

A Binomial Weighted Exponential Smoothing for Intermittent Demand Forecasting (간헐적 수요예측을 위한 이항가중 지수평활 방법)

  • Ha, Chunghun
    • Journal of Korean Society of Industrial and Systems Engineering
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    • 제41권1호
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    • pp.50-58
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    • 2018
  • Intermittent demand is a demand with a pattern in which zero demands occur frequently and non-zero demands occur sporadically. This type of demand mainly appears in spare parts with very low demand. Croston's method, which is an initiative intermittent demand forecasting method, estimates the average demand by separately estimating the size of non-zero demands and the interval between non-zero demands. Such smoothing type of forecasting methods can be suitable for mid-term or long-term demand forecasting because those provides the same demand forecasts during the forecasting horizon. However, the smoothing type of forecasting methods aims at short-term forecasting, so the estimated average forecast is a factor to decrease accuracy. In this paper, we propose a forecasting method to improve short-term accuracy by improving Croston's method for intermittent demand forecasting. The proposed forecasting method estimates both the non-zero demand size and the zero demands' interval separately, as in Croston's method, but the forecast at a future period adjusted by binomial weight according to occurrence probability. This serves to improve the accuracy of short-term forecasts. In this paper, we first prove the unbiasedness of the proposed method as an important attribute in forecasting. The performance of the proposed method is compared with those of five existing forecasting methods via eight evaluation criteria. The simulation results show that the proposed forecasting method is superior to other methods in terms of all evaluation criteria in short-term forecasting regardless of average size and dispersion parameter of demands. However, the larger the average demand size and dispersion are, that is, the closer to continuous demand, the less the performance gap with other forecasting methods.

Selection of Manageable Diseases for Quality Assessment in Korean Medicine by Delphi Method (한방분야 적정성 평가 대상 질환 선정을 위한 전문가 Delphi 조사)

  • Park, Chang-Hyun;Lim, Hyung-Ho
    • Journal of Korean Medicine Rehabilitation
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    • 제26권3호
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    • pp.129-141
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    • 2016
  • Objectives As awareness of the public about Korean medicine health care and the social demand about improvement for quality of health care service is constantly rising, the quality evaluation of Korean medicine health care service is needed to improve the quality. Through trial of Delphi method, we tried to set the priority in short, medium, long term among the disease which is the subject of quality assessment. Methods Carrying out the delphi survey to 50 experts of korean medicine who were recommended by the 41 member societies of Korean medicine and related organizations, we selected final candidates for quality assessment. It is composed with total 2 rounds, and we investigated the priority in three aspects; the importance of the matter, possibility quality assessment, potential about if there's any chance of improvement. Results By delphi method, we set the priority of quality assessment. Base on the result of the second round, we classified importance of the questions into above average, average, below average, and categorized items as short, medium, long term according on the final priority. We classified of musculoskeletal diseases and diseases of connective tissues and musculoskeletal injury as short term and cerebrovascular disease and disease of nerve system and malignant neoplasm as medium term, disease of digestive organs and diseases, symptoms and abnormal findings in clinical field or inspections which are not categorized as long term. Conclusions We set the subjects of quality assessment by delphi survey by experts, and classified into short, medium, long term. Further research is necessary for execution the Quality Assessment to each of the candidate. Also, we can send feedback to medical institution base on the result of Quality Assessment. then it would be able to induce the improvement in quality of medical institution by itself.

Comparison of the Characteristics of Smoking Cessation Success between Short-term and Long-term Success Groups (단기 금연성공자와 장기 금연성공자의 특성 비교 - 인천광역시 보건소 금연클리닉을 방문한 흡연자를 중심으로 -)

  • Kim, Young-Sook;Lee, Kun-Ja;Yi, Yeo-Jin
    • Research in Community and Public Health Nursing
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    • 제20권2호
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    • pp.251-258
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    • 2009
  • Purpose: The study aimed to compare characteristics associated with smoking and smoking cessation of those who had succeeded in smoking cessation. Methods: Data were collected from January to June, 2008. The subjects were 9,819 smokers who were registered at the smoking cessation clinic of public health centers in Incheon. Four characteristics (demographic, health promotion, smoking, smoking cessation) were compared between 6-week (short-term) and 6-month (long-term) success groups. Results: There was a significant difference between the 6-week and 6-month success groups for smoking cessation in demographic characteristics (gender, age, job, social security), health promotion (BMI, alcohol dependency, BP), smoking (first smoking age, smoking duration, expiration CO concentration, nicotine dependency), and smoking cessation (attempt to quit smoking, reason for smoking cessation, information source for registration). Conclusion: The group of short-term smoking cessation success was younger than the other. Also, short-term success group was of lower socioeconomic class than the other. The 6-month success group had a larger number of attempts to quit smoking. Therefore, smoking cessation policy should be focused more on younger people and those in lower socioeconomic status. These groups should be given advice on smoking cessation motives and more frequent counseling for smoking cessation.

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A Study on the Interaction Structure of Smart Farm in Controlled Horticulture: Focusing on Plant Production Stage (시설원예 스마트팜의 인터랙션 구조 연구: 식물 생산 단계 중심으로)

  • Lee, Yong-Jin;Pan, Young-Hwan
    • Journal of the Korea Convergence Society
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    • 제12권6호
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    • pp.1-8
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    • 2021
  • The purpose of this study is to study the interaction structure of a smart farm for controlled environment horticulture. As a research method, interaction factors were analyzed by defining the growth stages of humans, plants, and plants, which are the subjects of interaction during the production, distribution, sales and consumption stages of smart farms. Additionally, on-site survey was used to differentiate between one-time, short-term, and long-term, depending on the behavior and operation of the interacting entity and time. As a result, the research came up to a finding that 1) Human and Plant are based on interactions of 'one-time, short-term' 2) Plant and Smart Farm as 'short-term' 3) Smart Farm and Human as 'short-term and long-term'. For this reason, this study is meaningful in deriving the relationship between the subjects and the interaction elements in the production stage of the smart farm and presenting a new interaction structure model by structuring them.

A Study on Industry Problem Based Professional Practice Model: Based on Gyeongbuk K University Case Study (산업체 PBL기반 기업애로해결형 현장실습 모형 연구: 경북지역 K대학 사례를 중심으로)

  • Lee, Seok-moon;Jo, Young-jun
    • Journal of Practical Engineering Education
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    • 제12권1호
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    • pp.93-100
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    • 2020
  • To qualitative improvement in addition to the quantitative growth of field placement, efforts to reduce short-term (4 weeks) and mid-term professional practice (8 weeks) and to increase the proportion of long-term term professional practice (12 weeks or more) are increasing at university sites. There are the problems: the absence of systematic and specialized field placement curriculum of the short-term and mid-term professional practice, the participation of university field placement increases, companies do not prefer to participate in its program and students hesitate to apply to long-term practice due to their major. In order to solve these problems, this paper proposes the IPBP(Industry Problem Based professional Practice) based on Gyeongbuk K University which the students solve the company's difficulties during the field placement with their professor if need. In order to build a win-win field practice culture with participating companies, we suggest that the IPBP solution field practice presented in this paper is one of the good models.

Post Harvest Cropping Impacts on Soil Properties in Continuous Watermelon (Citrullus lanatus Thunb.) Cultivation Plots (시설수박 연작지 토양특성에 대한 후작물 재배의 영향)

  • Ahn, Byung-Koo;Kim, Dae-Hyang;Lee, Jin-Ho
    • Korean Journal of Soil Science and Fertilizer
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    • 제40권1호
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    • pp.98-107
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    • 2007
  • Most of plastic film house plots in Korea have salinity problems caused by salt accumulations associated with continuous cropping including the heavy applications of chemical fertilizers, and high evapotranspiration. The objective of this study was to investigate soil properties and watermelon (Citrullus lanatus Thunb.) productivity in plastic film houses as influenced by the short-term crop rotation in the continuous watermelon-cultivated soils. The short-term rotational crops selected were corn, Chinese cabbage, radish, young radish, lettuce, spinach, and onion. Soil pH increased in most plots where a short-term crop was added to the crop rotation, except where radish was added. The content of soil organic matter significantly decreased in the lettuce-cultivated plot. The available phosphorus content in the soils increased with the cultivations of spinach and onion. Exchangeable Ca and Mg tended to increase in most of plots where a short-term rotational crop was grown, whereas the exchangeable K was clearly reduced by more than 50% in the same plots. Cultivation of rotational crops during the post-harvest season significantly decreased the electrical conductivity (EC) and the concentrations of soluble anions, such as chloride ($Cl^-$), nitrate ($NO_3{^-}$), and sulfate ($SO{_4}^{2-}$) in the soils. In particular, the EC decrease was related with the decrease in soil $K^+$ to $Ca^{2+}$ and $Mg^{2+}$ ratio. In all plots cultivated with the shot-term rotational crops, the ratios of bacteria to fungi (B/F) increased. However, the improvement in soil properties after adding a rotational crop did not result in a clear improvement in watermelon quantity or quality as measured by fruit weight and sugar content. Therefore, the addition of short-term rotational crops to a continuous watermelon cropping system would be beneficial to improve target soil properties in plastic film house plots studied.