• Title/Summary/Keyword: beta curve

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The Market Effect of Additions or Deletions for KOSPI 200 Index : Comparison between Groups by Size and Market Condition (KOSPI 200지수종목의 변경에 따른 시장반응 : 규모와 시장요인에 따른 그룹간 비교분석)

  • Park, Young-S.;Lee, Jae-Hyun;Kim, Dae-Sik
    • The Korean Journal of Financial Management
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    • v.26 no.1
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    • pp.65-94
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    • 2009
  • The event of change in KOSPI 200 Index composition is one of the main subjects for the test of EMH. According to EMH, when a certain event is not related with firm's fundamental value, stock price should not change after the announcement of news. This hypothesis leads us to the conclusion of horizontal demand curve of stock. This logic was questioned by Shleifer(1986) and argued that downward sloping demand curve hypothesis was supported. But Harris and Gruel(1986) found a different empirical evidence that price reversal occurs in the long run, which is called price pressure hypothesis. They argued that short term price effect by large block trading (price pressure) is offset in the long run because these event is unrelated to fundamental value. Therefor, they argued that EMH can not be rejected in the long run. Until now, there are two empirical studies with Korean market data in this area. Using a data with same time period of $1996{\sim}1999$, Kweon and Park(2000) and Ahn and Park(2005) showed that stock price or beta is not significantly affected by change in index composition. This study retested this event expanding sample period from 1996 to 2006, and analyzed why this event was considered an uninformative events in the preceding studies. We analyzed a market impact by separating samples according to firm size and market condition. In case of newly enlisted firm, we found the evidence supporting price pressure hypothesis on average. However, we found the long run price effect in the sample of large firms under bearish markets. At the same time, we know that the number of samples under the category of large firms under bearish markets is relatively small, which drives the same result of supporting the hypothesis that change in index composition is a non-informative event on average. Also, the long run price effect of large size firms under bearish markets was supported by the analyses using trading volumes. On the other hand, in case of delisting from the index, we found the long run price effect but that was not supported by trading volume analyses.

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Study of characteristics of $AgGaS_2$/GaAs epilayer by hot wall epitaxy (HWE 방법에 의한 $AgGaS_2$/GaAs epilayer 성장과 특성)

  • Hong, K.J.;Jeong, J.W.;Bang, J.J.;Jin, Y.M.;Kim, S.H.;Yoe, H.S.;Yang, H.J.
    • Proceedings of the Korean Institute of Electrical and Electronic Material Engineers Conference
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    • 2002.08a
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    • pp.84-91
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    • 2002
  • The stochiometric composition of $AgGaS_2$/GaAs polycrystal source materials for the $AgGaS_2$/GaAs epilayer was prepared from horizontal furnace. From the extrapolation method of X-ray diffraction patterns it was found that the polycrystal $AgGaS_2$/GaAs has tetragonal structure of which lattice constant an and Co were 5.756 $\AA$ and 10.305 $\AA$, respectively. $AgGaS_2$/GaAs epilayer was deposited on throughly etched GaAs(100) substrate from mixed crystal $AgGaS_2$/GaAs by the Hot Wall Epitaxy (HWE) system. The source and substrate temperature were $590^{\circ}C$ and $440^{\circ}C$ respectively. The crystallinity of the grown $AgGaS_2$/GaAs epilayer was investigated by the DCRC (double crystal X-ray diffraction rocking curve). The optical energy gaps were found to be 2.61 eV for $AgGaS_2$/GaAs epilayer at room temperature. The temperature dependence of the photocurrent peak energy is well explained by the Varshni equation, then the constants in the Varshni equation are given by $\alpha=8.695{\times}10^{-4}$ eV/K, and $\beta=332K$. From the photocurrent spectra by illumination of polarized light of the $AgGaS_2$/GaAs epilayer, we have found that crystal field splitting ${\Delta}Cr$ was 0.28 eV at 20 K. From the PL spectra at 20 K, the peaks corresponding to free and bound excitons and a broad emission band due to D-A pairs are identified. The binding energy of the free excitons are determined to be 0.2676 eV and 0.2430 eV and the dissociation energy of the bound excitons to be 0.4695 eV.

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The Pharmacology and the Clinical Use of Selective Serotonin Reuptake Inhibitors (세로토닌 재흡수억제제의 약리학과 임상적용)

  • Lee, Min-Soo;Kim, Pyo-Han
    • Korean Journal of Biological Psychiatry
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    • v.2 no.2
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    • pp.205-217
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    • 1995
  • In comparison with tricyclic antidepressants(TCAs), one of the most interesting characteristics of selective serotonin reuptake inhibitors(SSRIs) is its structural differences, reveals different pharmacological properties. The applications at the moment are most effective in clinical applications to depression. The limited result of the research to date on the various applications of SSRIs has not revealed the total potential and applicability of SSRIs. Therefore, attending physicians utilizing SSRIs do not know the full capabilities of the drug on patients and what the patients may reap in terms of benefit from its curing elements. Physicians must first try to understand the full potential of SSRIs and its potential applications for it to be effective on patients. recently, it has been determined that SSRIs and other drugs when administered together may be more effective in the healing process because SSRIs complements and aids in the enhancement and effect of the other drugs. This article is written to give attention to the reader of the pharmacological properties and the clinical use of SSRIs. It is the authors's hope that continuous research on the particular aspects of SSRIs can aid the clinicians in the use of this SSRIs.

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Pharmacokinetics of Procainamide and N-acetylprocainamide (Procainamide와 그 대사산물(N-acetylprocainamide)의 약동학적 분석에 관한 연구)

  • Chang, In-Jin;Shin, Jae-Gook;Shin, Sang-Goo;Park, Chan-Woong;Lim, Jung-Kyoo
    • The Korean Journal of Pharmacology
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    • v.25 no.1
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    • pp.101-107
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    • 1989
  • To evaluate disposition characteristics of procainamide and its active metabolite, N-acetylprocainamide (NAPA), cross-over study for procainamide and NAPA was performed in 5 male adult dogs. After single administration of 10 mg/kg procainamide over 15 minutes, the range of measured plasma NAPA concentrations during experimental period were 0.03 to 0.124 ug/ml and early 'dip' phenomenon was distinct on NAPA concentration to time curve in all 5 dogs. Volume of distribution (Vss) and central compartment volume (Vc) of procainamide were $1.20{\pm}0.27\;L/kg$ of body weight and $0.36{\pm}0.08\;L/kg$, respectively. Vss and Vc of NAPA were $1.21{\pm}0.21\;L/kg$ and $0.26{\pm}0.07\;L/kg$, respectively. Intercompartmental clearance (Clint) of procainamide was 3.44 L/kg/hr and that of NAPA was 1.62 L/kg/hr. Total body clearance (Cl) of procainamide and NAPA were $0.47{\pm}0.08$ and $0.35{\pm}0.08\;L/kg/hr$. The half-life $(t_{1/2{\beta}})$ of procainamide and NAPA were 2.85 hrs and 2.77 hrs, respectively. Metabolic clearance (Clm)of procainamide by N-acetylation was $18.24{\pm}6.22\;ml/kg/hr$, which corresponded to 3.9% of total procainamide clearance.

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Stream Discharge Estimation by Runoff Component Analysis on the Control Point (유출성분 분석에 의한 제어지점의 유출량 산정)

  • Lee, Sang-Jin;Hwang, Man-Ha;Lee, Bae-Sung;Park, Joo-Seong
    • Proceedings of the Korea Water Resources Association Conference
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    • 2006.05a
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    • pp.785-789
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    • 2006
  • 유역 수자원의 효율적인 관리 및 배분을 위해서는 세밀한 강우-유출관계의 규명이 무엇보다 중요하다. 이를 위해서는 먼저 하천 유출지점의 정확한 유량정보가 획득되어야 하며, 장기간에 걸쳐 신뢰성 있는 유량자료의 확보는 더욱 중요한 사항이다. 본 연구에서는 하천에서 관측된 유량자료를 장기간(1983년${\sim}$2004년)에 걸친 유출성분으로 분리하는 기법을 활용하여 제어지점의 유출량을 검증하였다. 유량자료를 출구지점의 관측유량$(Q_{ob})$을 회귀수$({\alpha}Q_e)$, 상류유입량$(Q_{up})$ 및 관측강우-유출량$({\beta}Q_{Rain})$의 성분으로 구분하여 산정하는 방식으로 유출량을 추정하였다. 여기서, 회귀수$({\alpha}Q_e)$란 유역 및 하도내 용수이용량의 회귀수, 상류유입량$(Q_{up})$은 상류 유출 제어지점의 관측유량으로 대청댐 방류량, 관측강우-유출량$({\beta}Q_{Rain})$은 유역내 강우에 의한 자연유출량이다. 여기서 사용된 수문기초자료는 대청댐 방류량, 대전 및 청주권 취수량, 강우에 의한 자연유출량, 공주관측유량 등으로 각 성분별로 생성된 일자료를 이용하여 공주지점의 월별, 분기별, 년도별 유출량을 산정하였다. 이 결과는 금강유역에 이미 구축되어있는 SSARR모형을 기반으로 한 RRFS(Rainfall Runoff Forecasting System, 유출예측 시스템)의 결과 및 관측치와 비교되었다. 계산결과 RRFS에 의한 유출량과 대청-공주구간의 유출성분분리에 의한 유출량은 관측값과 전반적으로 근사함을 확인하였으며, 검증지점의 정확한 유출율을 산정할 수 있다면, 관측자료의 연속성 및 신뢰도를 파악하는 척도를 제공할 수 있을 것으로 판단된다.측결과 있는 대상유역에 대한 적용이 요구된다.-Moment 방법에 의해 추정된 매개변수를 사용한 Power 분포를 적용하였으며 이들 분포의 적합도를 PPCC Test를 사용하여 평가해봄으로써 낙동강 유역에서의 저수시의 유출량 추정에 대한 Power 분포의 적용성을 판단해 보았다. 뿐만 아니라 이와 관련된 수문요소기술을 확보할 수 있을 것이다.역의 물순환 과정을 보다 명확히 규명하고자 노력하였다.으로 추정되었다.면으로의 월류량을 산정하고 유입된 지표유량에 대해서 배수시스템에서의 흐름해석을 수행하였다. 그리고, 침수해석을 위해서는 2차원 침수해석을 위한 DEM기반 침수해석모형을 개발하였고, 건물의 영향을 고려할 수 있도록 구성하였다. 본 연구결과 지표류 유출 해석의 물리적 특성을 잘 반영하며, 도시지역의 복잡한 배수시스템 해석모형과 지표범람 모형을 통합한 모형 개발로 인해 더욱 정교한 도시지역에서의 홍수 범람 해석을 실시할 수 있을 것으로 판단된다. 본 모형의 개발로 침수상황의 시간별 진행과정을 분석함으로써 도시홍수에 대한 침수위험 지점 파악 및 주민대피지도 구축 등에 활용될 수 있을 것으로 판단된다. 있을 것으로 판단되었다.4일간의 기상변화가 자발성 기흉 발생에 영향을 미친다고 추론할 수 있었다. 향후 본 연구에서 추론된 기상변화와 기흉 발생과의 인과관계를 확인하고 좀 더 구체화하기 위한 연구가 필요할 것이다.게 이루어질 수 있을 것으로 기대된다.는 초과수익률이 상승하지만, 이후로는 감소하므로, 반전거래전략을 활용하는 경우 주식투자기간은 24개월이하의 중단기가 적합함을 발견하였다. 이상의 행태적 측면과 투자성과측면의 실증결과를 통하여 한국주식시장에 있어서 시장수익률을 평균적으로 초과할 수 있는 거래전략은 존재하므로 이러한 전략을 개발 및 활용할 수 있으며, 특히, 한국주식시장에 적합한 거래전략은 반전거래전략이고, 이 전략의 유용성은 투자자가 설정한 투자기간보다 더욱 긴

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THE LIGHT CURVE ANALYSIS OF AW CAM (AW CAM의 광도곡선 분석)

  • 김천휘;한원용
    • Journal of Astronomy and Space Sciences
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    • v.12 no.1
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    • pp.21-29
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    • 1995
  • The $\beta$ Lyrae-type eclipsing binary AW Cam was observed photoelectrically in three wavelength regions. The obtained UBV light curves of AW Cam were analyzed with two separate modes(mode 2 for detached systems and mode 5 for semi-detached ones) of the Wilson-Devinney binary mode. It is intended to resolve the discrepancy in AW Cam system that the photometrio mass ratio (q=0.21) derived by Russo and Milano (1983) is not consistent with the spectroscopic result (q=0.43) by Mammano et al.(1967). Our photomtric solutions derived with mode 2 are fitted better to the observed light curves than those of mode 5, supporting that AW Cam may be not a normal semi-detached system but a detached one. Three dimensional Roche configuration of AW Cam system calculated with the derived mass ratio (q=0.43) reveals that the less massive secondary with the confined within its inner Roche lobe, while the more massive rimary is in marginally contact. From the Roche geometry, the constancy of the orbital period and other photometric evidences of AW Cam, it is provisionally concluded that the system is an unevolved detached binary in is provisionally concluded that the system is an unevolved detached binary in the phase of case A evolution toward 'contact phase' rather than and evolved one in 'broken-contact phase' suggested by Giuricin and Mardrossian (1981).

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Bioequivalence of Cepirin Capsule to Suprax Capsule (Cefixime 100 mg) (슈프락스 캅셀 (세픽심 100 mg)에 대한 세피린 캅셀의 생물학적 동등성)

  • Jeong, Eun-Ju;Kang, Won-Ku;Kwon, Kwang-Il
    • Journal of Pharmaceutical Investigation
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    • v.29 no.2
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    • pp.145-149
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    • 1999
  • Bioequivalence of two cefixime capsules, test drug ($Cepirin^R$ capsule: Cheiljedang Corp.) and reference drug ($Suprax^R$ capsule: Dong A Pharm. Com.), was evaluated according to the guidelines of Korea Food and Drug Administration (KFDA). Sixteen healthy volunteers were divided randomly into two groups and administered the drug orally at the dose of 400 mg as cefixime in a $2{\times}2$ crossover study. There was a 1-week washout period between the administrations. Blood samples were taken at predetermined time intervals for 12 hour and the plasma concentration of cefixime was determined with a HPLC method. $AUC_{0-12hr}$ (area under the plasma concentration-time curve form time zero to 12 hour), $C_{max}$ (maximum plasma drug concentration) and $T_{max}$ (time to reach $C_{max}$) were estimated from the plasma drug concentrationtime data. Analysis of variance (ANOVA) revealed no difference in $AUC_{0-12hr}$, $C_{max}$ and $T_{max}$ between the formulations. The apparent differences of these parameters between the formulations were less than 20% (i.e., 8.62, 11.10 and 0.00% for $AUC_{0-12hr}$, $C_{max}$ and $T_{max}$,respectively). The powers $(1-{\beta})$ for $AUC_{0-12hr}$ $C_{max}$ and $T_{max}$ were over 0.9. Minimal detectable difference $({\Delta})$ at ${\alpha}=0.05$, $1-{\beta}=0.8$ were less than 20% (i.e., 12.84, 11.05 and 17.99% for $AUC_{0-12hr}$, $C_{max}$ and $T_{max}$, respectively). The 90% confidence intervals $({\delta})$ for these parameters were also within ${\pm}20%$ (i.e., $-0.53{\le}{\delta}{\le}17.76$, $3.23{\le}{\delta}{\le}18.97$ and $-12.81{\le}{\delta}{\le}12.81$ for $AUC_{0-12hr}$, $C_{max}$ and $T_{max}$, respectively). These results satisfied the criteria of KFDA guideline for bioequivalence, indicating the two formulations of cefixime were bioequivlent.

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Antinociceptive and anti-inflammatory effects of ginsenoside Rf in a rat model of incisional pain

  • Kim, Min Kyoung;Kang, Hyun;Baek, Chong Wha;Jung, Yong Hun;Woo, Young Cheol;Choi, Geun Joo;Shin, Hwa Yong;Kim, Kyung Soo
    • Journal of Ginseng Research
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    • v.42 no.2
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    • pp.183-191
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    • 2018
  • Background: Ginseng saponin has long been used as a traditional Asian medicine and is known to be effective in treating various kinds of pain. Ginsenoside Rf is one of the biologically active saponins found in ginseng. We evaluated ginsenoside Rf's antinociceptive and anti-inflammatory effects, and its mechanism of action on adrenergic and serotonergic receptors, in an incisional pain model. Methods: Mechanical hyperalgesia was induced via plantar incision in rats followed by intraperitoneal administration of increasing doses of ginsenoside Rf (vehicle, 0.5 mg/kg, 1 mg/kg, 1.5 mg/kg, and 2 mg/kg). The antinociceptive effect was also compared in a Positive Control Group that received a ketorolac (30 mg/kg) injection, and the $Na{\ddot{i}}ve$ Group, which did not undergo incision. To evaluate the mechanism of action, rats were treated with prazosin (1 mg/kg), yohimbine (2 mg/kg), or ketanserin (1 mg/kg) prior to receiving ginsenoside Rf (1.5 mg/kg). The mechanical withdrawal threshold was measured using von Frey filaments at various time points before and after ginsenoside Rf administration. To evaluate the anti-inflammatory effect, serum interleukin $(IL)-1{\beta}$, IL-6, and tumor necrotizing $factor-{\alpha}$ levels were measured. Results: Ginsenoside Rf increased the mechanical withdrawal threshold significantly, with a curvilinear dose-response curve peaking at 1.5 mg/kg. $IL-1{\beta}$, IL-6, and tumor necrotizing $factor-{\alpha}$ levels significantly decreased after ginsenoside Rf treatment. Ginsenoside Rf's antinociceptive effect was reduced by yohimbine, but potentiated by prazosin and ketanserin. Conclusion: Intraperitoneal ginsenoside Rf has an antinociceptive effect peaking at a dose of 1.5 mg/kg. Anti-inflammatory effects were also detected.

Determinants of Opioid Efficiency in Cancer Pain: a Comprehensive Multivariate Analysis from a Tertiary Cancer Centre

  • Goksu, Sema Sezgin;Bozcuk, Hakan;Uysal, Mukremin;Ulukal, Ece;Ay, Seren;Karasu, Gaye;Soydas, Turker;Coskun, Hasan Senol;Ozdogan, Mustafa;Savas, Burhan
    • Asian Pacific Journal of Cancer Prevention
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    • v.15 no.21
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    • pp.9301-9305
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    • 2014
  • Background: Pain is one of the most terrifying symptoms for cancer patients. Although most patients with cancer pain need opioids, complete relief of pain is hard to achieve. This study investigated the factors influencing persistent pain-free survival (PPFS) and opioid efficiency. Materials and Methods: A prospective study was conducted on 100 patients with cancer pain, hospitalized at the medical oncology clinic of Akdeniz University. Patient records were collected including patient demographics, the disease, treatment characteristics, and details of opioid usage. Pain intensity was measured using a patient self-reported visual analogue scale (VAS). The area under the curve (AUC) reflecting the pain load was calculated from daily VAS tables. PPFS, the primary measure of opioid efficacy, was described as the duration for which a patient reported a greater than or equal to two-point decline in their VAS for pain. Predictors of opioid efficacy were analysed using a multivariate analysis. Results: In the multivariate analysis, PPFS was associated with the AUC for pain (Exp (B)=0.39 (0.23-0.67), P=0.001), the cumulative opioid dosage used during hospitalisation (Exp (B)=1.00(0.99-1.00), P=0.003) and changes in the opioid dosage (Exp (B)=1.01 (1.00-1.01), P=0.016). The change in VAS score over the standard dosage of opioids was strongly associated with current cancer treatment (chemotherapy vs. others) (${\beta}=-0.31$, T=-2.81, P=0.007) and the VAS for pain at the time of hospitalisation (${\beta}=-0.34$, T=-3.07, P= 0.003). Conclusions: The pain load, opioid dosage, concurrent usage of chemotherapy and initial pain intensity correlate with the benefit received from opioids in cancer patients.

Size Effect on Flexural Compressive Strength of Reinforced Concrete Beams (철근콘크리트 보의 휨압축강도에 대한 크기효과)

  • 김민수;김진근;이성태;김장호
    • Journal of the Korea Concrete Institute
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    • v.14 no.6
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    • pp.934-941
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    • 2002
  • It is important to consider the effect of member size when estimating the ultimate strength of a concrete flexural member because the strength always decreases with an increase of member size. In this study, the size effect of a reinforced concrete (RC) beam was experimentally investigated. For this purpose, a series of beam specimens subjected to four-point loading were tested. More specifically, three different effective depth (d$\approx$15, 30, and 60 cm) reinforced concrete beams were tested to investigate the size effect. The shear-span to depth ratio (a/d=3) and thickness (20 cm) of the specimens were kept constant where the size effect in out-of-plane direction is not considered. The test results are curve fitted using least square method (LSM) to obtain parameters for the modified size effect law (MSEL). The analysis results show that the flexural compressive strength and the ultimate strain decrease as the specimen size increases. In the future study, since $\beta_1$ value suggested by design code and ultimate strain change with specimen size variation, a more detailed analysis should be performed. Finally, parameters for MSEL are also suggested.