• Journal of Korea Port Economic Association
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• v.34 no.4
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• pp.181-190
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• 2018

The goal of this study is empirically to investigate the asymmetric relationship between two variables using the dry cargo freight rates and raw material price data from January 2012 to May 2018. First, we estimate the asymmetry of macroeconomic indicators of commodity prices by using a two - step threshold cointegration test. Second, the asymmetric relation test of the trade balance of existing commodity price changes is tested by bypassing to the high frequency dry cargo freight rate index. As a result of the estimation, in contrast to the existing linear analysis, each boundary value for the lower limit and the upper limit has different asymmetry. This implies that the period of fluctuation of the sudden residual that causes irregular rate of return fluctuations does not establish a long term equilibrium relationship between the raw material price and the dry cargo freight rate. Therefore, in order to consider the sudden price change in the analysis, it is necessary to include the band of inaction that controls the irregular volatility, which is consistent with the asymmetry hypothesis.

• The korean journal of orthodontics
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• v.35 no.3 s.110
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• pp.163-173
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• 2005

The purpose of this study was to compare the asymmetric degree between maxillofacial hard and soft tissues in individuals with facial asymmetry. Computerized tomographies (CT) of 34 adults (17 male, 17 female) who had facial asymmetry were taken. The CT images were transmitted to personal computers and then reconstructed into three-dimensional (3D) images through the use of computer software. In order to evaluate the degree of facial asymmetry, 6 measurements were constructed as the hard tissue measurements while 6 counterpart measurements were taken as the soft tissue measurements. The means and standard deviations were obtained for each measurement using 3D measure, then t-test was used to investigate the differences between each hard tissue measurement and the corresponding soft tissue measurement All measurements used in the present study showed statistically significant differences between the hard and soft tissues. The degree of soft tissue asymmetry was smaller than that of corresponding hard tissue asymmetry in case of chin deviation, frontal ramal inclination difference, and frontal corpus inclination difference. On the other hand, the degree of soft tissue asymmetry was greater than that of underlying hard tissue asymmetry in the measurement of lip canting and lip cheilion height difference The present study suggests that asymmetric differences of hard and soft tissue is observed nu facial asymmetric subjects and thus soft tissue analysis is needed in addition to hard tissue analysis when making an evaluation of facial asymmetry.

• The Korean Journal of Financial Management
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• v.23 no.1
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• pp.101-133
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• 2006

We examine whether new derivatives on KOSPI 200 affect volatility asymmetry of KOSPI 200 portfolio, relative to the carefully matched non-KOSPI 200 portfolio. To test the effect or new derivatives trading, we use GJR-GARCH model and newly developed Volatility Ratio(down-market volatility to up-market volatility ratio). Our results show that KOSPI 200 portfolio experiences lower volatility asymmetry than non-KOSPI 200 portfolio after the trading of new derivatives on KOSPI 200, especially after the introduction of stock index options(KOSPI 200 options). For non-KOSPI portfolio, no significant reduction in volatility asymmetry occurred when trading of stock index options began. Also, we find that in the period of after January 1999, the period of after do-regulations and Financial Crisis in the Korean capital market, volatility asymmetry of stock markets was significantly decreased. This means that level of volatility asymmetry is closely related to the level of market regulations. Further, the results of the paper show that leverage effect and changes in foreign exchange ratio can be good candidates for explaining the stylized volatility asymmetry in the Korean stock market.

• Physical Therapy Rehabilitation Science
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• v.10 no.3
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• pp.374-378
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• 2021

Objective: Bilateral movement training is an effective method for upper extremity rehabilitation of stroke. An approach to induce bilateral movement through functional electrical stimulation is attempted. The purpose of this study is to develop an EMG-triggered functional electrical stimulation device for upper extremity bilateral movement training in stroke patients and test its feasibility. Design: Feasibility and Pilot study design. Methods: We assessed muscle activation and kinematic data of the affected and unaffected upper extremities of a stroke patient during wrist flexion and extension with and without the device. Wireless EMG was used to evaluate muscle activity, and 12 3D infrared cameras were used to evaluate kinematic data. Results: We developed an EMG-triggered functional electrical stimulation device to enable bilateral arm training in stroke patients. A system for controlling functional electrical stimulation with signals received through a 2-channel EMG sensor was developed. The device consists of an EMG sensing unit, a functional electrical stimulation unit, and a control unit. There was asymmetry of movement between the two sides during wrist flexion and extension. With the device, the asymmetry was lowest at 60% of the threshold of the unaffected side. Conclusions: In this study, we developed an EMG-triggered FES device, and the pilot study result showed that the device reduces asymmetry.

• Journal of the Korean Society of Physical Medicine
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• v.15 no.3
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• pp.89-98
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• 2020

PURPOSE: This study investigated the effects of unilateral static stretching on the flexibility and symmetry of the lower leg, and temporal gait variables in gait asymmetry people. METHODS: Twenty gait asymmetry people were divided into a unilateral static stretching group (USG, n = 10) and control group (CON, n = 10). The USG performed unilateral static stretching for 60 minutes, three times a week, and eight weeks. The flexibility of the lower leg (SR), and symmetry (BR), and temporal gait variables (Step length; SL, gait speed; GS) were measured before, after four and eight weeks of unilateral static stretching. Moreover, SI (symmetry index; SI) was calculated from the measured SL value. Statistical analyses were conducted using one-way ANOVA and two-way ANOVA with repeated measures, a paired t-test, and multiple comparisons according to Scheffe. RESULTS: SR and BR in the dominant and non-dominant side, and GS were increased significantly at USG after eight-weeks compared to before unilateral static stretching (p < .05). The difference in BR in the dominant and non-dominant side, and step length (SI) decreased significantly at USG after eight-weeks compared to before unilateral static stretching (p < .05). CONCLUSION: Unilateral static stretching improves the flexibility and symmetry of the lower leg, and temporal gait variables in gait asymmetry people.

• Asia Marketing Journal
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• v.15 no.3
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• pp.53-77
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• 2013

As advertising and promotions are categorized as operating expenses, managers tend to reduce marketing budget to improve their short term profitability. Gauging the value and accountability of marketing spending is therefore considered as a major research priority in marketing. To respond this call, recent studies have documented that financial market reacts positively to a firm's marketing activity or marketing related outcomes such as brand equity and customer satisfaction. However, prior studies focus on the relation of marketing variable and financial market variables. This study suggests a channel about how marketing activity increases firm valuation. Specifically, we propose that a firm's marketing activity increases the level of the firm's product market information and thereby the dispersion in financial analysts' earnings forecasts decreases. With less uncertainty about the firm's future prospect, the firm's managers and shareholders have less information asymmetry, which reduces the firm's cost of capital and thereby increases the valuation of the firm. To our knowledge, this is the first paper to examine how informational benefits can mediate the effect of marketing activity on firm value. To test whether marketing activity contributes to increase in firm value by mitigating information asymmetry, this study employs a longitudinal data which contains 12,824 firm-year observations with 2,337 distinct firms from 1981 to 2006. Firm value is measured by Tobin's Q and one-year-ahead buy-and-hold abnormal return (BHAR). Following prior literature, dispersion in analysts' earnings forecasts is used as a proxy for the information gap between management and shareholders. For model specification, to identify mediating effect, the three-step regression approach is adopted. All models are estimated using Markov chain Monte Carlo (MCMC) methods to test the statistical significance of the mediating effect. The analysis shows that marketing intensity has a significant negative relationship with dispersion in analysts' earnings forecasts. After including the mediator variable about analyst dispersion, the effect of marketing intensity on firm value drops from 1.199 (p < .01) to 1.130 (p < .01) in Tobin's Q model and the same effect drops from .192 (p < .01) to .188 (p < .01) in BHAR model. The results suggest that analysts' forecast dispersion partially accounts for the positive effect of marketing on firm valuation. Additionally, the same analysis was conducted with an alternative dependent variable (forecast accuracy) and a marketing metric (advertising intensity). The analysis supports the robustness of the main results. In sum, the results provide empirical evidence that marketing activity can increase shareholder value by mitigating problem of information asymmetry in the capital market. The findings have important implications for managers. First, managers should be cognizant of the role of marketing activity in providing information to the financial market as well as to the consumer market. Thus, managers should take into account investors' reaction when they design marketing communication messages for reducing the cost of capital. Second, this study shows a channel on how marketing creates shareholder value and highlights the accountability of marketing. In addition to the direct impact of marketing on firm value, an indirect channel by reducing information asymmetry should be considered. Potentially, marketing managers can justify their spending from the perspective of increasing long-term shareholder value.

• The Journal of Asian Finance, Economics and Business
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• v.6 no.1
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• pp.21-31
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• 2019

This paper examines how corporate social responsibility is related to the degree of asymmetric information in the Korean financial market. Recent theory argues that there is a negative relationship between a firm's corporate social responsibility and its information asymmetry. To test this hypothesis, we use the environment, social and governance (ESG) score, published by the Korean Corporate Governance Service, to proxy a firm's management practices toward socially responsible activities. In the entire sample of the Korean firms, we find contrasting results; the ESG score shows negative relationships with the price impact measure but statistically insignificant relationships with the dispersion of analyst forecasts. However, the ESG score shows negative relationships with both measures when we exclude chaebol affiliates from the sample. These findings are robust when we examine environmental, social and corporate governance scores separately. This set of results argues for the extant theory, expecting a negative relationship between a firm's engagement in corporate social responsibility and asymmetric information. It further argues for the importance of firm characteristics in determining the influence of socially responsible activities.

• The Korean Journal of Applied Statistics
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• v.24 no.1
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• pp.11-23
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• 2011

Robust unit root tests are developed for dynamic panels consisting of TAR processes. The test statistics are all based on diverse combinations of individual t-type tests for significance of TAR coefficients. Limiting null distributions are established. A Monte-Carlo experiment compares the proposed tests. The tests are applied to a panel data set of Canadian unemployment rates which show asymmetric features as well as having outliers.

• Proceedings of the Korean Society for Noise and Vibration Engineering Conference
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• 2012.10a
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• pp.516-519
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• 2012

This study proposes a method of an equivalent bell model in order to tune the beat period of a Korean bell. In a Korean bell having a slight asymmetry, each circumferential mode splits into a mode pair which has a slight difference in frequency, and the interaction of the mode pair makes a beat in vibration and sound. An equivalent bell model which consists of an axi-symmetric bell and an equivalent point mass, has the same mode property as in a real bell. The equivalent bell model is constructed by the finite element analysis based upon the theory of a revolutionary shell Using the equivalent bell model, the beat period is predicted when the bell thickness is locally decreased to improve the beat property. The predicted result is verified by experiment on a test bell. The proposed method is useful to save the time required for tuning the beat period of a large bell.

• International Journal of Naval Architecture and Ocean Engineering
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• v.5 no.3
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• pp.414-430
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• 2013

This paper shows the study of preswirl duct as an effective energy saving devices that have been devised and reviewed to support the propeller performance, especially for the ship of VLCC with large block coefficients. From the bare hull wake measurements, typical upper/lower asymmetry of hull wake at the propeller disk was found. The 2 kinds of pre-swirl duct, Unconventional half circular duct and Conventional circular pre-swirl duct have been designed and reviewed to recover the loss of propeller running in that condition. The general function of the pre-swirl duct was set to work against this asymmetry of wake and generate pre-swirled flow into the propeller against the propeller rotating direction. The optimum self propulsion tests with various angle configurations were carried out and the best configuration was decided. Accordingly, cavitation test was carried out with best configuration of unconventional half circular duct. The blade surface and tip vortex cavitation behaved smoother when the duct was mounted. The hull pressure amplitudes reflected this difference, so the hull pressure amplitude with duct was smaller than that of without duct.