• The Journal of Asian Finance, Economics and Business
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• v.8 no.6
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• pp.543-552
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• 2021

The study examines how foreign capital inflows affect stock market development in Pakistan for the period from July 2008 to June 2018. Several components of foreign capital inflows were used for empirical analysis, namely, foreign direct investment, foreign portfolio investment, and remittances. Further, market capitalization was used as a proxy for stock market development. The study uses an ARDL model for examining the long-run and short-run relationships between variables. We also analyze the bi-directional causality between the variables through the Granger causality test. Further, the presence of structural breaks was analyzed through the CUSUM and CUSUM Square test. The results suggest that in the long run, remittances have a positive and significant relationship with stock market development. However, foreign direct investment, foreign portfolio investment, and USD-PKR exchange rate do not have a significant impact on stock market development. The results also suggest that in the short run there is a negative relationship between FDI, USD-PKR exchange rate and market capitalization. Contrarily, we found a positive relationship between FPI and market capitalization. The results of Granger causality test suggest that remittances and USD-PKR exchange rate have a causal relationship with stock market development. Finally, we found no evidence of structural breaks in the dataset.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.1
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• pp.189-201
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• 2022

The study empirically examines the impact of monetary fundamentals along with global oil prices on the Pak-rupee exchange rate using the monthly data over 2001-2020. Employing the cointegrating vector autoregressive with exogenous variables (VARX) and vector error correction model with exogenous variables (VECMX), the study analyzes the impact of domestic monetary fundamentals while considering the foreign variables as weakly exogenous. In order to account for the structural breaks in the data, the Lagrange multiplier (LM) unit root test with two structural breaks has been used (Lee & Strazicich, 2003). The empirical results reveal that the domestic and foreign monetary variables significantly explain the exchange rate movements in Pakistan both in the long run and in the short run. The dynamic properties of the monetary model of exchange rate have been analyzed using the persistence profile analysis and generalized impulse response functions (GIRFs). The results reveal that the responses of shocks to domestic monetary fundamentals are consistent with the predictions of the monetary model of the exchange rate. Furthermore, being a net oil importer, a rise in global oil prices significantly depreciated the Pak-rupee exchange rate over the period of study. The global financial crisis (GFC) and pandemic (COVID-19) were also found to cause the Pak-rupee exchange rate depreciation.

• 한국지구물리탐사학회:학술대회논문집
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• 2003.11a
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• pp.669-675
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• 2003

This paper examines structural breaks and asymmetries of prices of four domestic petroleum products, i.e., gasoline, kerosene, diesel, and bunker-C, following the changes in the pricing policies pertaining to petroleum products in Korea from the government-controlled pricing system to the market pricing system. We use the monthly wholesale market price data for the sample period between July 1988 and December 2001. Using the four methods: the Chow test, the CUSUM/CUSUMQ tests, the Bayesian approach and the Dufour test, the structural behaviors of the petroleum product prices are examined. We found that structural change occurred in all petroleum products, with the exception of Kerosene, at the point of pricing policy change from government-controlled to the spot-price related pricing system. We, also conducted asymmetric analysis using the Borenstein, Cameron, and Gilbert (1997)'s model and found evidences of price asymmetry for all four product types, but in different pattern for each product.

• Asian Pacific Journal of Cancer Prevention
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• v.13 no.11
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• pp.5391-5397
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• 2012

Background: Neuroblastoma (NB), like most human cancers, is characterized by genomic instability, manifested at the chromosomal level as allelic gain, loss or rearrangement. Genetics methods, as well as conventional and molecular cytogenetics may provide valuable clues for the identification of target loci and successful search for major genes in neuroblastoma. We aimed to investigate AURKA and MYCN gene rearrangements and the chromosomal aberrations (CAs) to determine the prognosis of neuroblastoma. Methods: We performed cytogenetic analysis by G-banding in 25 cases [11 girls (44%) and 14 boys (66%)] and in 25 controls. Fluorescence in situ hybridization (FISH) with AURKA and MYCN gene probes was also used on interphase nuclei to screen for alterations. Results: Some 18.4% of patient cells exhibited CAs., with a significant difference between patient and control groups in the frequencies (P<0.0001). Some 72% of the cells had structural aberrations, and only 28% had numerical chnages in patients. Structural aberrations consisted of deletions, translocations, breaks and fragility in various chromosomes, 84% and 52% of the patients having deletions and translocations, respectively. Among these expressed CAs, there was a higher frequency at 1q21, 1q32, 2q21, 2q31, 2p24, 4q31, 9q11, 9q22, 13q14, 14q11.2, 14q24, and 15q22 in patients. 32% of the patients had chromosome breaks, most frequently in chromosomes 1, 2, 3, 4, 5, 8, 9, 11, 12, 19 and X. The number of cells with breaks and the genomic damage frequencies were higher in patients (p<0.001). Aneuploidies in chromosomes X, 22, 3, 17 and 18 were most frequently observed. Numerical chromosome abnormalities were distinctive in 10.7% of sex chromosomes. Fragile sites were observed in 16% of our patients. Conclusion: Our data confirmed that there is a close correlation between amplification of the two genes, amplification of MYCN possibly contributing significantly to the oncogenic properties of AURKA. The high frequencies of chromosomal aberrations and amplifications of AURKA and MYCN genes indicate prognostic value in children with neuroblastomas and may point to contributing factors in their development.

• The Journal of Asian Finance, Economics and Business
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• v.1 no.1
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• pp.5-14
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• 2014

This paper empirically examines the short-run and long-run causal relationship between stock market prices and exchange rates in Chinese stock markets using monthly data from January 2002 to December 2012 retrieved from the National Bureau of Statistics of the People's Republic of China. Unit root, cointegration tests, vector error correction estimates, block exogeneity Wald tests, impulse responses, variance decomposition techniques and structural break tests are employed. This study found 1) long-run causality from exchange rates to stock prices in Chinese stock markets and 2) short-run causality from Japanese yen and Korean won exchange rates to stock prices in the Shanghai Stock Exchange strongly prevails while in the Shenzhen Stock Exchange weakly prevails. The impact of the global financial crisis from 2007 to 2009 on Chinese stock markets was insignificant.

• Journal of the Korean Institute of Electrical and Electronic Material Engineers
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• v.31 no.7
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• pp.510-514
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• 2018

This study discusses and demonstrates the structural stability of highly ordered Pt patterns formed on a transparent and flexible substrate through the process of nanotransfer printing (nTP). Bending tests comprising approximately 1,000 cycles were conducted for observing Pt line patterns with a width of $1{\mu}m$ formed along the direction of the horizontal (x-axis) and vertical (y-axis) axes ($15mm{\times}15mm$); and adhesion tests were performed with an ultrasonicator for a period greater than ten minutes, to analyze the Pt crossbar patterns. The durability of both types of patterns was systematically analyzed by employing various microscopes. The results show that the Pt line and Pt crossbar patterns obtained through nTP are structurally stable and do not exhibit any cracks, breaks, or damages. These results corroborate that nTP is a promising nanotechnology that can be applied to flexible electronic devices. Furthermore, the multiple patterns obtained through nTP can improve the working performance of flexible devices by providing excellent structural stability.

• Journal of Korea Society of Industrial Information Systems
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• v.23 no.3
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• pp.131-142
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• 2018

Since income growth rate and poverty level are related, there is a possibility that the poverty rate may converge in the long run steady state as well. If the poverty rate converges, then for this study the state that begins with the high poverty rate would have a higher poverty reduction rate. To examine the convergence of poverty rate among the US states, this study uses two times series methodologies. First, in order to prevent the power loss from ignoring the structural break when testing for a unit root in a single time series, this study employs the newly developed panel LM unit root tests with level and trend shifts. The results of unit root tests of the log of poverty rate without allowing for structural breaks show that twenty six states reject the null hypothesis of unit root test for the ADF test, twenty five states for the LM test, and thirty five states for the RALS-LM test. The result of unit root tests that allow one structural break shows that the null hypothesis of a unit root test is rejected for twenty two states with the LM test, and thirty three states with the RALS-LM test. This supports poverty rates are converging among US states.

• Geomechanics and Engineering
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• v.34 no.2
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• pp.155-171
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• 2023

Aiming at the grouting treatment of water inflow in karst conduits, a visualized experiment system for conduit-type grouting blocking was developed. Through the improved water supply system and grouting system, and the optimized multisource information monitoring system, the real-time observation of diffusion and deposition of slurry, and the data acquisition of pressure and velocity during the whole process of grouting were realized, which breaks through the problem that the monitoring element is easy to fail due to slurry adhesion in conventional test system. Based on the grouting experiments in static and flowing water, the diffusion and deposition behavior of the quick-setting slurry under different working conditions were analyzed. The temporal and spatial variation behavior of the pressure and velocity were studied, and the blocking mechanism of the grouting were further revealed. The results showed that: (1) Under the flowing water condition, the counter-flow diffusion distance of slurry was negatively correlated with the flow water velocity and the volume ratio of cement and sodium silicate (C-S ratio), and positively correlated with the grouting volume. The slurry deposition thickness was negatively correlated with the flowing water velocity, and positively correlated with the grouting volume and C-S ratio. (2) The pressure increased slowly before blocking of the flowing water and rapidly after blocking in karst conduits. (3) With the continuous progress of grouting, the flowing water velocity decreased slowly first, then significantly, and finally tended to be stable. According to the research results, some engineering recommendations were put forward for the grouting treatment of the conduit-type water inflow disaster, which has been successfully applied in the treatment project of the China Resources Cement (Pingnan) Limestone Mine. This study provided some guidance and reference for the parameter optimization of grouting for the treatment projects of water inflow in karst conduits.

• The Korean Journal of Financial Management
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• v.21 no.2
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• pp.153-181
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• 2004

This study is to explore whether the relationship among financial markets changed according to financial development. For this study, data analysis was conducted through analytic methods incorporated structural breaks such as Zivot and Andrews'(1992) unit root test Gregory and Hansen's(1996a,b) cointegration test, etc. In study results, it was found that dynamic relationship between stock price and interest rate was changed from negative to positive after the structural break(Oct 1999). It may be resulted from the fact that asset substitutability between stock and bond was increased since stock investment became popularized The negative relationship between stock price and exchange rate was reinforced after the structural break(the foreign currency crisis). Also, the negative relationship between interest rate and exchange rate was strengthened after the structural break(Oct. 1999).

• Korean Journal of Food Science and Technology
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• v.25 no.1
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• pp.46-51
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• 1993

The inactivating effect of iron(II)-ascorbate complex (Fe-Asc) on various phages was previously reported. This paper describes the molecular target in the phage virion attacked by Fe-Asc. The effect of Fe-Asc on protein was investigated with bovine serum albumin and the structural protein of phage J1. There were no differences in the SDS-polyacrylamide gel electrophoresis (patterns of these two proteins when either they were treated) with Fe-Asc or not. Also, there were no changes in the amino acid composition and ultraviolet spectrum of the proteins. The effects of Fe-Asc on DNA was investigated with pUC18 DNA, M13mpB DNA and ${\lambda}$ DNA as well as DNA from phage J1. Fe-Asc caused initially nicking of the subsequently form of pUC18 DNA to yield the open circular form and then subsequently the linear form. Strand breaks were also confirmed with M13mp8 DNA and ${\lambda}$ DNA as well as J1 DNA. The results indicate that the strand breaks in phage DNA could be responsible for the inactivation of phages by Fe-Asc.