• Title/Summary/Keyword: base

Search Result 23,455, Processing Time 0.05 seconds

Complication and Failure Analysis of Endodontically Treated Teeth Restored with Post and Cores (포스트로 수복한 근관 치료된 치아의 임상적 상태에 대한 평가)

  • Yun, Mi-Jung;Kim, Mu-Hyon;Jeong, Chang-Mo;Huh, Jung-Bo;Jeon, Yeong-Chan
    • Journal of Dental Rehabilitation and Applied Science
    • /
    • v.28 no.4
    • /
    • pp.359-370
    • /
    • 2012
  • The endodontically treated tooth is generally restored with post and core, owing to the brittle and the loss of large amount of tooth structure. The purpose of this study was to evaluate the clinical status of fixed prostheses to improve the quality of dental care. In order to assess the clinical status of fixed prostheses, a total of 101 individuals (aged 30-89, 66 women and 35 men loaded with 125 fixed prostheses) who treated in the Department of Prosthodontics, Pusan National University Dental Hospital, between January 1990 to December 2005 were examined. The results of this study were as follows: 1. Length of service of fixed prostheses was $9.7{\pm}3.4$ years (mean), 11.1 years (median). 2. Age and sex of patient was found to have no statistically significant influence on longevity of fixed prostheses (P>.05). 3. Location of fixed prostheses was found to have statistically significant influence on longevity of fixed prostheses (P<.05). The longevity of fixed prostheses was low in anterio-posterior combination region (median:9.2 years). 4. Longevity of fixed prostheses made of base metal ceramic(median:12.0 years) and noble metal ceramic (median:11.3 years) is long (P<.05). 5. Number of units in fixed prostheses was found to have no statistically significant influence on longevity of fixed prostheses (P>.05). 6. Condition of opposing dentition was found to have no statistically significant influence on longevity of fixed prostheses (P>.05). 7. Dental caries, periapical disease, tooth fracture were frequent complications. In 51.9% of the cases, abutment state after removing fixed prostheses was needed to be extracted.

Digitization of Adjectives that Describe Facial Complexion to Evaluate Various Expressions of Skin Tone in Korean (피부색을 표현하는 형용사들의 수치화를 통한 안색 평가법 연구)

  • Lee, Sun Hwa;Lee, Jung Ah;Park, Sun Mi;Kim, Younghee;Jang, Yoon Jung;Kim, Bora;Kim, Nam Soo;Moon, Tae Kee
    • Journal of the Society of Cosmetic Scientists of Korea
    • /
    • v.43 no.4
    • /
    • pp.349-355
    • /
    • 2017
  • Skin tone plays a key role in one of the determinant for facial attractiveness. Most female customers have an interest in choosing skin color and improving their skin tone and their needs have been contributed the expansion of cosmetic products in the market. Recently, cosmetic customers, who want bright skin, are also interested in healthy and lively-looking skin. However, there is no method to evaluate the skin tone with the complexion-describing adjectives (CDAs). Therefore, this study was conducted to find the ways to objectify and digitize the CDA. We obtained that quasi $L^*$ at dark skin is 65 and quasi $L^*$ at bright skin is 74 for standard images, which are selected from our data base. To match the following seven CDAs: pale, clear, radiant, lively, healthy, rosy and dull, the colors of both images were adjusted by 30 panels. The quasi $L^*$, $a^*$ and $b^*$ were converted from the RGB values of the manipulated images. The differences between the quasi $L^*$, $a^*$ and $b^*$ values of standard images and manipulated images reflecting each CDA were statistically significant (p < 0.05). However, there were no statistical significances between the $L^*$ values of dark and bright skin images that were modified in accordance with each CDA and there also were no statistical significances between the quasi $a^*$ values of dark and bright skin for pale and clear CDAs. From the statistical analysis, the CDAs were observed to form three groups: (i) pale-clear-radiant, (ii) lively-healthy-rosy and (iii) dull. We recognized that people have a similar opinion about perception of CDAs. Following our results of this study, we establish new standard method for sensibility evaluation which is difficult to carry out scientifically or objectively.

Improving Corsican pine somatic embryo maturation: comparison of somatic and zygotic embryo morphology and germination

  • Wtpsk, Senarath;Shaw, D.S.;Lee, Kui-Jae;Lee, Wang-Hyu
    • Proceedings of the Plant Resources Society of Korea Conference
    • /
    • 2003.04a
    • /
    • pp.61-62
    • /
    • 2003
  • Clonal propagation of high-value forest trees through somatic embryogenesis (SE) has the potential to rapidly capture the benefits of breeding or genetic engineering programs and to improve raw material uniformity and quality. A major barrier to the commercialization of this technology is the low quality of the resulting embryos. Several factors limit commercialization of SE for Corsican pine, including low initiation rates, low culture survival, culture decline causing low or no embryo production, and inability of somatic embryos to fully mature, resulting in low germination and reduced vigour of somatic seedlings. The objective was to develop a Corsican pine maturation medium that would produce cotyledonary embryos capable of germination. Treatments were arranged in a completely randomized design. Data were analyzed by analysis of variance, and significant differences between treatments determined by multiple range test at P=0.05. Corsican pine (Pinus nigra var. maritima) cultures were initiated on modified !P6 medium. Modifications of the same media were used for culture multiplication and maintenance. Embryogenic cultures were maintained on the same medium semi solidified with 2.5 g/l Gelrite. A maturation medium, capable of promoting the development of Corsican pine somatic embryos that can germinate, is a combination of iP6 modified salts, 2% maltose, 13% polyethylene glycol (PEG), 5 mg!l abscisic acid (ABA), and 2.5 g/l Gelrite. After initiation and once enough tissue developed they were grown in liquid medium. Embryogenic cell suspensions were established by adding 0.951.05 g of 10- to 14-day-old semisolid-grown embryogenic tissue to 9 ml of liquid maintenance media in a 250ml Erlenmeyer flask. Cultures were then incubated in the dark at 2022$^{\circ}$C and rotated at 120 rpm. After 2.53 months on maturation medium, somatic embryos were selected that exhibited normal embryo shape. Ten embryos were placed horizontally on 20 ml of either germination medium ($\frac{2}{1}$strength Murashige and Skoog (1962) salts with 2.5 g/l activated charcoal) or same medium with copper sulphate adjusted to 0.25 mg/1 to compensate for copper adsorption by activated carbon. 2% and 4% maltose was substituted by 7.5% and 13% PEG respectively to improve the yield of the embryos. Substitution of' maltose with PEG was clearly beneficial to embryo development. When 2% of the maltose was replaced with 7.5% PEG, many embryos developed to large bullet-shaped embryos. At latter stages of development most embryos callused and stopped development. A few short, barrel-shaped cotyledonary embryos formed that were covered by callus on the sides and base. When 4% of the maltose was removed and substituted with 13% PEG, the embryos developed further, emerging from the callus and increasing yield slightly. Microscopic examination of the cultures showed differing morphologies, varying from mostly single cells or clumps to well-formed somatic embryos that resembled early zygotic embryos only liquid cultures with organized early-stag. A procedure for converting and acclimating germinants to growth in soil and greenhouse conditions is also tested. Seedling conversion and growth were highly related to the quality of the germinant at the time of planting. Germinants with larger shoots, longer, straighter hypocotyls and longer roots performed best. When mature zygotic embryos germinate the root emerges, before or coincident with the shoot. In contrast, somatic embryos germinate in reverse sequence, with the cotyledons greening first, then shoot emergence and then, much later, if at all, the appearance of the root. Somatic seedlings, produced from the maturation medium, showed 100% survival when planted in a field setting. Somatic seedlings showed normal yearly growth relative to standard seedlings from natural seed.

  • PDF

Effect of Temperature and Various Pre-treatments on Germination of Hippophae rhamnoides Seeds (갈매보리수나무 종자의 온도 및 여러 가지 전처리에 따른 발아반응)

  • Choi, Chung-Ho
    • Korean Journal of Plant Resources
    • /
    • v.25 no.1
    • /
    • pp.132-141
    • /
    • 2012
  • This study was carried out to test seed germination responses to temperatures and pre-treatments in Hippophae rhamnoides, which has many abilities in antioxidant activity, soil improvement and erosion control. H. rhamnoides seeds were placed at 10, 15, 20, 25, 30 and $35^{\circ}C$ under light condition. As the results, germination percentage (GP) was the highest at 15 and $20^{\circ}C$, and mean germination time (MGT), germination rate (GR) and germination value (GV) were the highest at $25^{\circ}C$. Quadratic and linear regression model were used to determine the cardinal temperatures such as base ($T_b$), maximum ($T_m$) and optimum ($T_o$) temperature for germination. In quadratic regression model using PG, $T_b$, $T_m$ and $T_o$ was estimated as 0.6, 36.4 and $18.5^{\circ}C$, respectively, and temperature range for germination was $35.8^{\circ}C$. In linear regression model using GR, $T_b$, $T_m$ and $T_o$ was estimated as 8.3, 35.4 and $25.3^{\circ}C$, respectively, and temperature range for germination was $27.2^{\circ}C$. Germination properties were investigated after H. rhamnoides seeds were treated by prechilling (1, 2, 4, 6 and 8 weeks), stratification (2, 4, 6 and 8 weeks), solid matrix priming (seed : carrier : water = 5 : 1 : 7, 8, 9 and 10), osmo-priming (-0.25, -0.5, -1.0 and -1.5 MPa) and calcium chloride ($CaCl_2$) -priming (100, 200, 300 and 400 mM). The highest GP was observed in $CaCl_2$ 300 and 400 mM treatments, and MGT was the shortest in stratification 6 and 8 weeks treatments. GR and GV were the highest and GP was the second highest when seeds were prechilled for 1 and 2 weeks. Consequently, prechilling 1 or 2 weeks treatment was considered as the appropriate method when we contemplate qualitative and quantitative effects in seedling production.

Potential Antitumor $\alpha$-Methylene-$\gamma$-butyrolactone-Bearing Nucleic Acid Base. 3. Synthesis of $5^1$-Methyl-$5^1$-[(6-substituted-9H-purin-9-yl)methyl]-$2^1$-oxo-$3^1$-methylenetetrahydrofurans

  • Kim, Jack-C.;Kim, Si-Hwan;Kim, Ji-A;Choi, Soon-Kyu;Park, Won-Woo
    • Archives of Pharmacal Research
    • /
    • v.21 no.4
    • /
    • pp.458-464
    • /
    • 1998
  • Search for a new $\alpha$-methylene-$\gamma$-butyrolactone-bearing 6-substituted purine as a potental antitumor agent has led to synthesize seven, hitherto unreported, $5^1$-Methyl-$5^1$-[(6-substituted-9H-purin-9-yl)methyl]-$2^1$-oxo-$3^1$- methylenetetrahydrofurans (H, Cl, l, $CH_3$, $NH_2$, SH, >C=O) (6a-g). These include $5^1$-Methyl-$5^1$-[(9H-purin-9-yl)methyll-$2^1$-oxo-$3^1$ -methylenetetrahydrofurans (6a), $5^1$-Methyl-$5^1$-[(6-chloro-9H-purin-9-yl)methyl]-$2^1$-oxo-$3^1$-methylenetetrahydr ofurans (6b), $5^1$-Methyl-$5^1$-[(6-chloro-9H-purin-9-yl) methyl]-$2^1$-oxo-$3^1$-methylenetetrahydrofurans (6c), $5^1$-Methyl-$5^1$-[(6-methyl-9H-purin-9-yl) methyl]-$2^1$-oxo-$3^1$-methylenetetrahydrofurans (6d), $5^1$-Methyl-$5^1$-[(9H-adenin-9-yl)methyll-$2^1$-oxo-$3^1$-methylenetetrahydrofurans (6e), $5^1$-Methyl-$5^1$-[(6-mercapto-9H-purin-9-yl) methyl]-$2^1$-oxo-$3^1$-methylenetetrahydrofurans (6f) and $5^1$-Methyl-$5^1$-[(9H-hypoxanthin-9-yl)methyll-$2^1$-oxo-$3^1$-methylenetetrahydrof urans (6g) which were made by the Reformatsky-type reaction of ethyl $\alpha$-(bromomethyl) acrylate with the corresponding (6-substituted-9H-purin-9-yl)-2-propanone intermediates (5a-g). These ketone intermediates 5a-g, 1-(9H-purin-9-yl)-2-propanone (5a), 1-(6-chloro-9H-purin-9-yl)-2-propanone (5b), 1-(6-iodo-9H-purin-9-yi)-2-propanone (5c), 1-(6-methyl-9H-purin-9-yl)-2-propanone (5d), 1-(9H-adenin-9-yl)-2-propanone (Se), 1-(6-mercapto-9H-purin-9-yl)-2-propanone (5f), and 1-(9H-hypoxanthin-9-yl)-2-propanone (5g) were directly obtained by the alkylation of the 6-substituted purine bases with the chloroacetone in the presence of $K_2$$CO_3$ (or NaH) under DMF (or DMSO). The preliminary in vitro cytotoxcity assay for the synthetic .alpha.-methylene-y-butyro-lactone compounds (6a-g) were determined against three cell lines (PM-3A, P-388, and K-562) and showed the moderate antitumor activity ($IC_50$ ranged from 1.4 to 4.3 $\mu\textrm{g}$/ml) with the compound $5^1$-methyl-$5^1$ -[(9H-hypoxanthin-9-yl)methyl]-$2^1$-oxo-$3^1$-methylenetetrahydrofuran (6g) showing the least antitumor activity.

  • PDF

Factors Required to Sustain Pastoral Farming Systems and Forage Supply In Winter-Cold Zones in Canada (캐나다의 동계한냉지역에 있어서 초지개발과 조사료 공급의 활성화에 필요한 요인)

  • Kunelius, H.T.;Fraser, Joanna
    • Journal of The Korean Society of Grassland and Forage Science
    • /
    • v.12 no.3
    • /
    • pp.3-12
    • /
    • 1992
  • Forage grasses and legumes ar$\varepsilon$ the mam component of livestock diets in Canada. There are over 30 million ha of grassland in Canada and there is a large, undeveloped land base in fringe areas suitable for forage production. The short growing s season limits the grassland farming to the southern p parts of Canada. The win!er season is long and in most parts of Canada cold temperatures, fr$\varepsilon$ezmg, and thawing, and diseases exert sever$\varepsilon$ stress on overwintering forage plants. The development of persistent cultivars is essential for sustained production particularly in the fringe areas with short growmg s$\varepsilon$ason. The seasonality of dry matter production is a result of high growth rates in early summ$\varepsilon$r and low dry matter accumulation in late summer and fall. Innovative management practIces a and cultivars with improved regrowth capacity are n necessary to overcome such skewed production pattern and to extend effiectlVe grazmg season l Improved pasture production is an important part of reducing costs in livestock operations and remaining competitive. It is suggested that applying available technology would increase pasture productivity and reduce d$\varepsilon$pendence on stored feeds thus improving profitability of small producers in particeular. Reducing nutrient losses during harv$\varepsilon$stmg, s storage, and feeding is essential for improved production efficiency during confinement. The devclopment of low cost and labor saving methods of ensiling is critical for improved efficiency and profitability of forage based enterprises Livestock industries must respond to consumer preferences for low fat and cholesterol foods. Research and development of entire production systems is emphasized for dev$\varepsilon$loping viabl$\varepsilon$ enterprises. It is increasingly difficult to secure resources for r$\varepsilon$search, education, and extension, and alliane$\varepsilon$s and cooperation must expand among organizations with interests in forage based livestock systems.

  • PDF

Expression of Anion Exchanger and CFTR in the Hepatocyte and Cholangiocytes in Bile Duct-Ligated Rat (담관 결찰 쥐의 간세포와 담관세포의 anion exchanger와 CFTR 발현)

  • Lee, Jae-Dong;Wang, Joon-Ho;Ki, Seung-Seog;Choe, Won-Hyeok;Park, Jae-Seung;Cho, Won-Kyoo;Park, Jung-Jun;Kim, Hong-Su
    • Journal of Life Science
    • /
    • v.21 no.12
    • /
    • pp.1772-1777
    • /
    • 2011
  • Cystic fibrosis transmembrane conductance regulator (CFTR) gene and sodium-independent $Cl^-/HCO_3^-$ anion exchanger (AE) genes are expressed in a wide variety of mammalian tissues including cholangiocytes. They play an important role in the regulation of intracellular pH (pHi) as well as in transepithelial acid/base transport necessary for biliary bicarbonate secretion. The aim of this study was to examine the expression level of CFTR gene and AE genes (AE1, AE2 and AE3) in the cholangiocytes and the hepatocytes, and also measure AE2 gene expression level after bile duct ligation (BDL). As we previously described, isolated hepatocytes and cholangiocytes from the liver of normal and BDL rats were prepared and gene expression levels were measured by using RT-PCR. We found that AE1, AE2, and AE3 genes were expressed in both hepatocytes and cholangiocytes, but CFTR was only in cholangiocytes. AE2 gene expression level was higher in the BDL hepatocytes than normal hepatocytes, which was significantly different between two groups. AE2 gene expression level was lower in the BDL cholangiocytes than normal cholangiocytes. However, AE2 gene expression level in both hepatocytes and cholangiocytes were not changed with a longer duration of BDL. These results suggest that CFTR and AE2 may play an important role in the pathogenetic mechanism of biliary cholestatic liver disease.

A Prospective Study on Attitude of Professional Student toward Population Related Issues in Korea (대학전공별(大學專攻別) 전문직학생(專門職學生)들의 인구관련문제(人口關聯問題)에 대한 연차적(年次的) 변화(變化) 연구(硏究))

  • Lee, Kyung-Sik;Kim, Hwa-Joong
    • Journal of Preventive Medicine and Public Health
    • /
    • v.9 no.1
    • /
    • pp.11-24
    • /
    • 1976
  • This study was a part of large scale of a prospective study on attitudes of professional students in medicine, nursing and teaching toward population related issues in Korea. The study was first conducted in May 1974 and then in May 1975 for the 1974 class cohot using a questionaire consisted of attitude scales and other items developed by Lee. The purpose of stuay was twohold, namely, to determine the difference in students among specializations on one hand and between the first and second years in the 1974 class cohot regarding tile subject matter. A one-way analysis of variance was used for attitude scale, and absolute and relative frequency were computed for the analysis of non-attitude scale items by employing Fishers' Ratio and Duncan's multiple range test at 5% level and chi square test at 5% level as significance tests. The hypothesis 'students in health profession are more likely to have positive attitudes toward population related issues progressively as class year advances than students in teaching profession' was tested and the following results were obtained: 1) Nursing students were more likely to display favarable attitudes toward family planning than medical or teaching students although the class cohot showed slightly negative improvement in the second year. Medical and teaching students apperaed to have slightly improved attitudes in the second year. 2) Respondents in general perceived national family planning program as a means of population control and this tendency was more true among nursing students as the class year advances than two other professional groups of students. Students in teaching profession appeared to perceive it more as a means to improve individual family welfare while health students were likely to see as to improve maternal and child health. This tendency was progressively improved as the class year advanced. 3) The majority of students regardless of their respective specializations believed that family planning program should be directed toward the improvement of individual family welfare. No progressive changes in the class cohot were observed. 4) About the plan to use contraceptives in future, no singnificant differences were observes among different specializations nor in different class years. However, the majority was confirmed to have a plan to use contracepives in future. An increasing proportion of the undecided category was observed, as class year advanced among health students. 5) Students in health profession were found to be more favorable about 'more leisure opportunities' as motive for limiting number of children whereas education students indicated the reasons as 'facilitate ambitions' and 'economic base' The progressive changes toward positive direction in both groups were observed as the class years advanced. 6) Attitudes toward induced abortions of the health students were observed to be positively related to class years while an inverse relationship was found in teaching students who showed much less favor in the subject matter than health students. This phenomenon may be due to the different exposure to learning environments unique to respective specializations. 7) Health students were found to have more favorable attitudes toward population education in general than the teaching students. The teaching students appeared to have changed more to the negative direction when they became the second year while no such development was observed in health students. The teaching students seemed to hold a very conservative position with regard to sex education in schools. 8) About the equality of sexes, the nursing group was found to be most favorable while the reverse was true in the teaching group. A change in the negative direction as the class year advanced was found in the teaching group. 9) About questions related to fertility values-the 10 percent of respondents regardless of specialization indicated that they would maintain their single status in future, however no change was observed in the second year. The desired number of children was found to be two by the majority of students in nursing, medicine and teaching in order of high proportion. No changes in a different class year were observed. The childless marriage was seen by nursing students as a problem more than other students, but a slight change in positive direction was found when the nursing students became the second year. In summing, as data supported in the above, students in health profession demonstrated more favorable attitudes toward population related issues than the teaching students and this tendency became more apparent in the second year. It was noticed that health students were more conscious about the health aspect of population and family planning program while the teaching students gave more attention to the socioeconomic aspect. The sex variable seemed to have operated in the item related to the equality of sexes. In conclusion, as data presented in the above, the hypothesis of this study was accepted except in the few items. It should be noted that the limitation of this study is the short duration of the observation in measuring the possible attitude changes. It should include curriculum analysis for the respective specializations in order to indentify the area of curriculum impact on students in future study.

  • PDF

Flexible Specialization: A New Paradigm for Modern Industrial Society ? (柔軟的 專門化(Flexible Specialization) : 현대 産業社會의 새로운 패러다임 ?)

  • Lee, Deog-An
    • Journal of the Korean Geographical Society
    • /
    • v.28 no.2
    • /
    • pp.148-162
    • /
    • 1993
  • There is much speculation that modern capi-talist society is undergoing fundamental and qualitative chnge towards flexible specialization. The purpose of this study is to examine this hypothesis. This paper focusses on: the idea of flexible specialization; the significance of this transition; industrial district; and the implicati-ons of this new production system for Korean industrial space. Main arguments of this study are as follows: First, as all different groups of researchers apply the idea of flexible specialization according to their own specifications, the current debate on this topic is not much fruitful. Not surpri-singly, the concept of flexible specialization has overlapped with subocontracting. This intergration of subcontracting into flexible specialization systems, however, is inappropriate because the two concepts have different historical contexts. The other cause of this controversy is its inherent weekness, conceptual ambiguity. Thus, today's flexibility becomes tomorrow's rigidity. Secondly, transition towards flexible speciali-zation has only been partially achieved even in advanced capitalist countries. The application of dualistic explanatory framework, such as rigidity versus flexibiity, mass production versus small-lot multi-product production, and de-skilling versus re-skilling, has resulted in great exaggeration of the transformation, from Fordism to post-Fordism. There is no intermediary part between two places. Considering that the workers allocated to the Fordist mass production assembly line are not as large as one might imagine, the shift from mass to flexible production has only limited implications for the transformation of capitalist economy. Thirdly, 'industrial district' contorversy has contributed to highlighting the importance of small firms and areas as production space. The agglomeration of small firms in specific areas is common in Korea, but it is quite different from the industrial district based on flexible specialization. The Korean phenomenon stems from close interactions with its major parent firm rather than interactions between flexible, specialized, autonomous and technology-intensive smll firms. Most Korean subcontractors are still low-skilled, labour-intensive, and heavily dependent on their mojor parent firms. Thus, the assertion that the Seoul Metropolitan Area adopts flexible specialization has no base. Fourthly, the main concern of flexible speciali zation is small firms. However, the corporate organization that needs product diversification and technological specialization is oligopolistic large corporations typified by multinational corporations. It is because of this that most of these organizations are adoptiong Fordist mass production methods. The problem of product diversification will be resolved naturally if economic internationalization progresses further. What is more important for business success is the quality and price competitiveness of firms rather than product diversification. Lastly, in order to dispel further misunderst-anding on this issue, it is imparative that the conceptual ambiguity is resolved most urgently. This study recommends adoption of more speci-fied and direct terminology (such as, factory automation, computer design, out-sourcing, the exploitation of part-time labor, job redesign) rather than that of ideological ones (such as, Taylorism, Fordism, neo-Taylorism, neo-Fordism, post-fordism, flexible specialization, peripheral post-Fordism). As the debates on this topic just started, we still have long way to go until consensus is reached.

  • PDF

An Empirical Study on the Long-Run Performance of Cross-Listings by Multinational Corporations (다국적기업 해외상장의 장기적인 성과에 관한 연구)

  • Kim, Dong-Soon;Park, Sang-An
    • The Korean Journal of Financial Management
    • /
    • v.21 no.2
    • /
    • pp.27-63
    • /
    • 2004
  • Since the 1980s, many multinational corporations have been issuing stocks on foreign stock exchanges, not only to enhance their investor base and liquidity, but also to diversify risks. The phenomenon has also been intensified by the rapid financial globalization and securitization trends. The main purpose of this study is to look into the long-run performance of MNCs' cross-listings of stocks on foreign stock exchanges. We use the event study and cross-sectional regression methods. We obtained some interesting empirical results about the long-run effect of cross-listings. First before the listing data the effect of cross-listing is to increase the underlying stock Vice in the local market. It may be caused by expectation of lower risk and cost of capital. However, after the listing data the stock price has been declining, even if it is not significant. Second, we examine the difference in the long-run cross-listing effect, which may be caused by the listing direction. When listing is made from a less developed market to a more developed market, the effect is better than that in the reverse direction. Furthermore, the effect is worse, when the listing company's home country is the U.S. Third, there is a negative relation between CARs and underlying stock liquidity in the local market, So it implies that a firm, whose underlying stocks are very liquid in the local market should carefully value cross-listing based upon the cost and benefit analysis. Last, but not the least we find that the long-un cross-listing effect is better, when a listing firm's ROE is higher.

  • PDF