• Title/Summary/Keyword: low yield ratio

Search Result 531, Processing Time 0.033 seconds

A Study on the Investment Efficiency of CB(Convertible Bond) (CB(전환사채)의 투자효율성에 관한 실증연구)

  • Sun-Je Kim
    • Journal of Service Research and Studies
    • /
    • v.10 no.4
    • /
    • pp.71-88
    • /
    • 2020
  • CB(Convertible bond) is mezzanine security that have the characteristics of bonds and stocks. From the perspective of investors, the purpose of the research is to empirically investigate the degree of investment efficiency of CB and to suggest efficient investment plans. The research method investigated the maturity interest rate, conversion price, and conversion date for CB, and then linked it with daily stock price fluctuations after the conversion date to determine the degree of investment efficiency and stock conversion effect of CB. As a result of the study, it was analyzed that the ratio of the conversion price exceeded days was only about 1/4 of the conversion date, so the investment efficiency was low. The conversion day yield was -6.3% on average and the maturity day yield was -5.2% on average, showing a minus return on average, which was calculated differently from investor expectations. It was analyzed that the number of stocks with a minus conversion day is 2.4 times greater than the number of plus stocks and 3.7 times more than the number of plus stocks with a minus maturity return, so the expected return on stock conversion of CB is low. The research contribution was derived from the problem that the expected rate of return of CB is not high, and it is that the investor's point of view when purchasing CB was established.

Lactation Performance of German Fawn Goat in Relation to Feeding Level and Dietary Protein Protection

  • Chowdhury, S.A.;Rexroth, H.;Kijora, C.;Peters, K.J.
    • Asian-Australasian Journal of Animal Sciences
    • /
    • v.15 no.2
    • /
    • pp.222-237
    • /
    • 2002
  • Effects of high and low levels of feeding with or without protected protein on the performance of lactating goats were studied. Twenty four German Fawn goats either from 1st ($43.37{\pm}3.937$ kg and 2 year old) or 3rd $62.64{\pm}6.783$ kg and 4-5 year old) parity were used for the trial. Feeding levels were 7.2 (I) and 5.2 (II) MJ ME/litre of milk of 3.5% fat in addition to that of the maintenance allowance. At each feeding level, diet had either unprotected (U) or formaldehyde protected (P) soya-meal. Thus, four diets were IU, IP, IIU and IIP, having six animals in each. The diets were composed of hay and pellet (10:4:1 of beet pulp : barley : soya-meal). Effect of feeding level, protein protection, parity, health status and kid number on intake, milk yield, milk composition, growth rate of goats were recorded across the 21 weeks of study. High feeding level resulted increase (p<0.001) in estimated metabolizable energy (ME) and metabolizable protein (MP) availability. Dietary inclusion of protected soya-meal increased (p<0.001) the estimated MP but not the ME availability. Animals in 1st parity ate more (p<0.001) DM (111 vs. 102 g/kg $W^{0.75}$/d) than those in 3rd parity. Animals with twin kids (110 g/kg $W^{0.75}$/d) had higher (p<0.001) DM intake than those with single kid (102 g/kg $W^{0.75}$/d). Fat (4%) corrected milk (FCM) yield was not effected by high (1,924 g/d) or low (1,927 g/d) feeding level but increased (p<0.001) with protected (2,166 g/d) compared with unprotected (1,703 g/d) soya-meal. FCM yield for four dietary combinations were 1,806, 2,078, 1,600 and 2,254 g/d for diets IU, IP, IIU and IIP, respectively. For unit increase (g) in estimated MP availability relative to ME (MJ) intake, FCM yield increased ($1,418{\pm}275.6$) g daily ($r^2$=0.58; p<0.001). Milk fat (3.14 vs. 3.54%; p<0.001) and protein (2.94 vs. 3.04% p<0.05) contents were lower at high than the low feeding level. Protected protein increased (p<0.001) the fat, lactose and net energy (NE) content of milk. Milk urea concentration of 175, 183, 192 and 204 mg/l for diets IU, IP, IIU and IIP, respectively indicated lower RDP content of these diets. The RDP contents were 6.97, 6.70, 7.30 and 6.83 g/MJ of ME for diets IU, IP, IIU and IIP, respectively. Live weight change over the experimental period were 41, 6, 17 and 19 g/d. Absence of any positive response of high feeding was probably due to inefficient rumen fermentation resulting from inadequate RDP supply. Protected protein improved production performance apparently by increasing MP:ME ratio in the absorbed nutrient.

Effect of seeding rate of Crotalaria (Crotalaria juncea L.) on Green Manure Yield and Nitrogen Prodution in Upland Soil

  • Cho, Hyeoun-Suk;Seong, Ki-Yeung;Park, Tea-Sun;Seo, Myung-Chul;Kim, Mi-Hyang;Kang, Hang-Won;Lee, Hye-Jin
    • Korean Journal of Soil Science and Fertilizer
    • /
    • v.46 no.6
    • /
    • pp.445-451
    • /
    • 2013
  • We researched nitrogen and green manure yield of crotalaria by seeding rate; 50, 60, 70, 80, 90 kg $ha^{-1}$ in upland soil to find out crotalaria's optimal seeding rate. Crotalaria's plant height and number of leaves increased when the harvest time was later regardless of its seeding rate. Its nitrogen content of above-ground part was 19.8 g $ha^{-1}$, and C/N ratio was 22.5. The highest nitrogen content (50.3 g $ha^{-1}$) was found in flowers part, followed by its leaves, roots and stems. The green manure yields of crotalaria increased when the harvest time was later. The green manure yield of crotalaria was biggest in 50kg $ha^{-1}$ which was low in seeding rate. It tended to decrease when the seeding rate was higher, and the nitrogen yield had the same tendency. Therefore, the appropriate seeding rate was 50kg $ha^{-1}$ and the time for application to soil was considered to be the flowering stage.

Effects of Organic Material Application on the Growth and Yield of Crops in Korea (우리나라에서의 유기물(有機物) 시용효과(施用效果))

  • Park, Chon-Suh
    • Korean Journal of Soil Science and Fertilizer
    • /
    • v.11 no.3
    • /
    • pp.175-194
    • /
    • 1979
  • The soil organic matter contents in arable land are generally low in Korea. Thus it is generally agreed that the application of organic materials to soils would be much beneficial. Present paper is a review on the effectiveness of organic mat ter application in uplands and lowlands. 1. The effect of organic matter application in uplands are of more clear and simple to explain as compared to that in lowlands. In uplands, appropriate application of organic matters such as compost and various crops residues improves the physical properties of soils leasing to increased water holding capacity, better aeration, and decrease in soil erosion. 2. In lowland, rice soils under water logged conditions the effect of organic matter application on rice yield is not straight borward and demands more refined knowledges for the interpretation of it. 3. It is found that the application of compost in rice soils is more effective when nitrogen fertilizer application is limited it dicating that nitrogen contained in the organic maerials can become available to rice plant and plays an important role for increased yield of rice under the condition where nitrogen fertilizer supply is limited. 4. Application of organic matter does not always bring about the desirable effects. Very often the organic matter application results in more intensive soil reduction leading to the accumulation of harmful substances which would can cancel out the positive effects of organic matter. This is partiunlarly true in poorly drained soils. 5. Rice straw or compost, when applied rice soils, supply sizeable amounts of available silicate to rice plant resulting in yield increase. 6. Although the effectiveness of organic matter application on rice yield in short term experiments is not consistent due to many reasons, the long term effect of organic matter is significant. 7. The term of the $O.M/SiO_2$ ratio in rice soils can serve as a criterion for the judgement of whether organic matter or silicate fertilizer is needed to be applied in a certain soil.

  • PDF

Numerical study on operating parameters of autothermal reformer for hydrogen production (수소생산을 위한 자열개질기 작동조건의 수치해석 연구)

  • Park, Joon-Guen;Lee, Shin-Ku;Lim, Sung-Kwang;Bae, Joong-Myeon
    • 한국신재생에너지학회:학술대회논문집
    • /
    • 2008.05a
    • /
    • pp.507-510
    • /
    • 2008
  • Characteristics of an autothermal reformer at various operating parameters have been studied in this paper. Numerical method has been used, and simulation model has been developed for the analysis. Full Combustion reaction, Steam Reforming(SR) reaction, Water-Gas Shift(WGS) reaction, and Direct Steam Reforming(DSR) reaction are assumed as dominant chemical reactions in the autothermal reformer. Simulation results are compared with experimental results for code validation. Operating parameters of the autothermal reformer are inlet temperature, Oxygen to Carbon Ratio(OCR), Steam to Carbon Ratio(SCR), and Gas Hourly Space Veolcity(GHSV). SR reaction rate decreases with low inlet temperature. If OCR is increased, $H_2$ yield is increased but optimal point is suggested. WGS reaction is activated with high SCR. When GHSV is increased, reforming efficiency is increased but pressure drop may decrease the system efficiency.

  • PDF

Soft Combination Schemes for Cooperative Spectrum Sensing in Cognitive Radio Networks

  • Shen, Bin;Kwak, Kyung-Sup
    • ETRI Journal
    • /
    • v.31 no.3
    • /
    • pp.263-270
    • /
    • 2009
  • This paper investigates linear soft combination schemes for cooperative spectrum sensing in cognitive radio networks. We propose two weight-setting strategies under different basic optimality criteria to improve the overall sensing performance in the network. The corresponding optimal weights are derived, which are determined by the noise power levels and the received primary user signal energies of multiple cooperative secondary users in the network. However, to obtain the instantaneous measurement of these noise power levels and primary user signal energies with high accuracy is extremely challenging. It can even be infeasible in practical implementations under a low signal-to-noise ratio regime. We therefore propose reference data matrices to scavenge the indispensable information of primary user signal energies and noise power levels for setting the proposed combining weights adaptively by keeping records of the most recent spectrum observations. Analyses and simulation results demonstrate that the proposed linear soft combination schemes outperform the conventional maximal ratio combination and equal gain combination schemes and yield significant performance improvements in spectrum sensing.

  • PDF

Utilization as External Carbon Source of TVFAs Fermentation with Sludge (슬러지를 이용한 유기산 발효공정의 외부 탄소원으로 활용)

  • 김영규;김인배;김민호
    • Journal of Environmental Health Sciences
    • /
    • v.27 no.4
    • /
    • pp.79-83
    • /
    • 2001
  • The sludge wastes fermentation process reactors were operated to produce the VFAs(volatile fatty acids) as supplemental carbon sources and to determine the optimum operating conditions. The experiment was carried out by varied mixture ration of 400:0 350:30 300:100 200:200 and operating temperature 2$0^{\circ}C$ 3$0^{\circ}C$ and 4$0^{\circ}C$ The results were as follows: Higher VFAs production rate observed at higher mixed ratio of primary sludge. When the mixed ratio of primary sludge and return sludge were 400:0 350:50 300:100 200:200 respectively. VFAs production are were 829.6mg/l 944.2 mg/l 597.9mg/ml an d441.6 mg/l , respectively. the yield of VFAs increased with temperature, but decreased with initial TSS concentration Because fermented sludge has relatively low nitrogen and phosphorus and relatively high VFAs it can be used as a substitute for external carbon in biological nutrient removal process.

  • PDF

Study on the Salt Tolerance of Rice and Other Crops in Reclaimed Soil Areas. 6. The Comparison of Growth in the Direct Sowing and Transplanting of Rice Culture in the Reclaimed Salty Areas (간척지에서 수도 및 기타작물의 내염성에 관한 연구 6. 염분간척지에서 직파법과 이앙법에 의한 수도생육의 비교)

  • 임형빈
    • Journal of Plant Biology
    • /
    • v.13 no.1
    • /
    • pp.1-12
    • /
    • 1970
  • The Nongkwang variety was sown directly in the field by the three methods of dibbling, drill seeding and broad-casting in non-, low- and high-salty areas, and compared with the growth of transplanted rice in each areas. The yield of rough rice was increased remarkably by direct sowing when compared with that produced by transplanting inboth salty areas, but in non-salty area, the former was decreased significantly. There was no significant difference in the yields of rough rice resulting from three seedling methods of direct sowing in each area. The direct sowing method was predominated in number of panicle, weight of panicle, ratio of matured grains, milling recovery percentage, and straw weight in both salty areas, and dicreased in panicle weight and ratio of matured grain in nonsalty area.

  • PDF

Synthesis of Resole-type Phenolic Beads via Suspension Polymerization Technique (현탁중합을 이용한 레졸형 구형 페놀입자의 합성)

  • Hahn, Dongseok;Kim, Daejung;Kim, Hongkyeong
    • Korean Chemical Engineering Research
    • /
    • v.51 no.2
    • /
    • pp.279-284
    • /
    • 2013
  • The phenolic beads in macrosize range were obtained by suspension polymerization at $98^{\circ}C$ from phenol and formaldehyde in the presence of basic catalyst with a phenol to formaldehyde (P/F) range of 1:1~1:4, and they were carbonized to spherical carbon beads under nitrogen at $700^{\circ}C$. Thermal analysis on spherical phenolic beads obtained by suspension polymerization showed that the postcuring process is essential. In order to optimize the suspension polymerization, the effects of the P/F molar ratio, the pH of catalyst, and the molecular weight of stabilizer on the size distribution and yield of spherical phenol beads were examined separatively. The particle size was increased whereas the yield was decreased with P/F molar ratio. The increasing basicity of catalyst made the particle size to increase, while the molecular weight of stabilizer had more effect on the yield rather than on the particle size distribution. The thermal stability of the spherical phenolic beads obtained through postcure was also examined by TGA. The phenol beads of high P/F ratio still showed the weight loss at $220^{\circ}C$ even after postcure due to the high possibility of dibenzyl ether, while those of low P/F ratio showed the steady decrease in weight during $220^{\circ}C$ to $400^{\circ}C$, which showed that the optimal P/F ratio was 1:2.

Varietal Difference in Growth Response and Ginsenoside Contents of Two-Year-Old Ginseng Grown in Paddy Field with Different Drainage Conditions (배수등급이 다른 논토양에서 2년생 인삼의 품종별 생육 및 진세노사이드함량 차이)

  • Lee, Sung-Woo;Kim, Chung-Guk;Yeon, Byeong-Yeol;Hyun, Dong-Yun;Shin, Yu-Su;Kang, Seung-Won;Cha, Seon-Woo
    • KOREAN JOURNAL OF CROP SCIENCE
    • /
    • v.53 no.4
    • /
    • pp.401-406
    • /
    • 2008
  • To select adoptable varieties in paddy soil with relatively high content of soil moisture, the growth characteristics and ginsenoside content of two-year-old ginseng was investigated in paddy soil with two types of drainage conditions such as poorly and imperfectly drained class, using 4 varieties, Cheonpoong (CP), Yeonpoong (YP), Hwangsookjong (HS) Jakyeongjong (JK). The ratio of survived plant in poor drainage conditions was higher than that in imperfect drainage conditions, and the ratio of discolored leaf in the former was lower than that in the latter. The ratio of survived plant was highest in HS, while lowest in YP. The ratio of discolored leaf was lowest in HS, while highest in YP among 4 varieties. Root weight per plant and yield were more distinctly decreased in poor drainage conditions than those in imperfect drainage conditions. Descending order of yield in poor drainage conditions was JK, CP, YP and HS, while CP, YP, JK and HS in imperfect drainage conditions. Varietal difference of rusty colored root was more distinct than that between poor and imperfect drainage conditions. The ratio of rusty colored root was relatively low in CP and JK, while high in YP and HS. Total ginsenoside content of two-year-old ginseng grown in poor drainage conditions was increased more than that in imperfect drainage conditions due to full growth of root. Regardless of different drainage conditions total ginsenoside content was highest in YP, while lowest in HS among 4 varieties, and there were no distinct difference between CP and JK.