• The Journal of Asian Finance, Economics and Business
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• v.8 no.2
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• pp.711-724
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• 2021

The purpose of this paper is to investigate the profitability of the momentum effects on the Oman Stock Market (OSM). This study uses the monthly returns of all stocks listed on the OSM, with a total of 107 companies used in the study for the period from 2005 to 2018. According to the methodology developed by Jegadeesh and Titman (1993), this study builds momentum portfolios based on various sizes. Moreover, the January effect is also examined to recognize if this effect is related to the momentum effect. The results find that there is evidence of momentum returns and these returns are statistically and economically significant. The sub-periods confirmed the profitability of the momentum strategy. This paper shows that momentum returns are evident at different sizes; big, medium, and small-sized portfolios. Besides, the result shows that the classic January effect does not play an important role in the momentum returns. Thus, the implication is that the momentum should not take into account the annual, seasonal, and size returns. The capital asset pricing model (CAPM) or the three-factor model cannot explain momentum returns generated by individual stocks in the Oman Stock Market. These results are useful to academia and investors alike.

• Journal of The Korean Association For Science Education
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• v.12 no.1
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• pp.11-21
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• 1992

This study tried to find out the effect to types of test items upon the momentum effect. The previous studies showed that the momentum effect is influenced by stduents' congnitive levels and the abstractness of test items. In this study focused on the types of test items The test items are divided into 4 different types of quantitative and qualitative, verbal and image. The result showed that qualitative items showed a longer momentum effect than quantitative ones. The image items and verbal items did not show significant difference in the duration of momentum effect. The interpretation of this would need a careful psychological analysis. Anyhow, this result reconfirmed the existence of the momentum effect and showed that the study on the momentum effect could be a Significant research paradigm.

• Journal of The Korean Association For Science Education
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• v.21 no.5
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• pp.841-854
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• 2001

The purpose of this study was to find the effect of these variables on the duration of the momentum effect. To examine the momentum effect for gravitational field concepts, an intensive time series design was used. We collected data every day except Sundays and holidays for 50 days; 5 days for baseline, 30 days for intervention, and 15 days for the follow up We adopted cognitive levels and styles as students characteristics and two item characteristics(quantity versus quality, and word versus picture) as the item representation patterns. In this study, the momentum effect was influenced by students characteristics and item representation patterns. The results showed that two variables, cognitive style and quantity/quality, were the most influential factors for the duration of momentum effect. Field independent students showed a longer duration than field dependent students did. In addition, students showed a longer duration in quality items than in quantity items. However, students cognitive levels(formal or preformal) and word/picture presentations seemed to have relatively weak effect on the duration of the momentum effect.

• Journal of The Korean Association For Science Education
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• v.14 no.2
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• pp.111-122
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• 1994

This study tried to find the effect to the representation patterns of science concepts upon the momentum effect. The previous studies showed that the momentum effect is influenced by students' cognitive levels and the abstractness of test items. The representation patterns of science concepts are divided into 4 different types: quantitative and qualitative, verbal and image. The research method used in this study is time series design. The period is 50 days. The period is divided into "pre-lest", "intervention-test", "post-test". Pre-test period is 5 days and in this period class instruction does not exist. Intervention-lest period is 30 days and in this period class instruction exist. Post-test period is 15 days and in this period class instruction does not exist. The results showed longer momentum effect on the image-qualitative representation pattern than the other representation patterns. Qualitative concepts is formed better than quantitative. Momentum effects is not artifact but the essential characteristics of science study.

• Journal of The Korean Association For Science Education
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• v.14 no.1
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• pp.70-84
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• 1994

This study tried to find the effect to cognitive structure upon the momentum effect. The previous studies showed that the momentum effect is influenced by students' cognitive levels and the abstractness of test items. The cognitive structure is examined by cognitive level and cognitive style. Cognitive levels and cognitive styles are determined by GALT and GEFT respectively. The research method used in this study is time series design. The period is 50 days. The period is divided into "pre-test", "intervention-test", "post-test". Pre-test period is 5 days and in this period class instruction does not exist Intervention-test period is 30 days and in this period class instruction exist Post-test period is 15 days and in this period class instruction does not exist. Field independent students showed longer momentum effect than field dependent students. Formal level students showed less ratio of decrease on post-test than nonformal level students. Momentum effects is not artifact but the essential characteristics of science study.

• Journal of Industrial Convergence
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• v.20 no.11
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• pp.75-83
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• 2022

This study analyzes whether investor sentiment and liquidity explain the momentum phenomenon in the Korean stock market and whether it is a risk factor for the asset pricing model. The empirical analysis used the monthly returns of non-financial companies listed on the stock market during the period 2000-2021. As a result of the analysis, first, it was found that there is a momentum effect in Korea. This is the same result as the previous study, and since 2000, the momentum effect has been accepted as a general phenomenon in the Korean stock market. Second, if we look at the portfolio based on investor sentiment, investor sentiment is influencing momentum. In particular, when investor sentiment is negative, the return on the winner portfolio is high. Third, as a result of the analysis based on liquidity, the momentum effect disappears and a reversal effect appears. Fourth, it was found that investor sentiment and liquidity influence the momentum effect. This is a result of the strong momentum effect in the illiquid stock group with negative investor sentiment. Fifth, as a result of analyzing the effect of each factor on stock returns, it was found that both investor psychology and liquidity factors have a significant impact on returns. The estimated results provide evidence that the inclusion of these two factors in the Carhart four-factor model significantly increases the predictive power of the model. Therefore, it can be said that investor sentiment factors and liquidity factors are important factors in determining stock returns.

• Tribology and Lubricants
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• v.15 no.1
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• pp.98-107
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• 1999

In this work the effect of pressure drop at inner film due to centrifugal forces acting on the lubricating fluid is investigated for static and dynamic characteristics of floating ring journal bearing. The momentum effect of oil supply into a inner film through oil feeding holes of floating ring on the bearing performance is also studied. It is compared the pressure drop effects and the momentum effect of oil supply into a inner film fur all bearing performance parameters. It is shown that some performance of floating ring bearings can be controled by the momentum of oil supply into a inner film.

• Journal of the Korean Magnetics Society
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• v.18 no.1
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• pp.36-38
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• 2008

We calculate the electron scattering amplitude with reduced angular momentum expansion(RAME) and compare it with the plane wave approximation. By using WKB approximation it is shown that the curvature correction factor given by RAME is originated from the source wave centrifugal potential energy. The factor also can be understood as an effective wave number correction factor in plane wave approximation. Angular momentum and its relationship with scattering amplitude is explicitly shown.

• Journal of the Korean Society for Aeronautical & Space Sciences
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• v.37 no.7
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• pp.669-677
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• 2009

In general, the pitch momentum biased system that induces inherently nutational motion in roll/yaw plane, has been adapted for geosynchronous communications satellites. This paper discusses the method of roll attitude control using yaw axis momentum management method for a low earth orbit(LEO) satellite which is a pitch momentum biased system equipped with only two reaction wheels. The robustness of wheel momentum management method with PI-controller is investigated comparing with wheel torque control method. The transfer function of roll/yaw axis momentum management system that is useful for attitude controller design is derived. The disturbance effect of roll/yaw axis momentum management system for attitude control is investigated to identify design parameters such as magnitude of momentum bias and to get the insight for controller design. As an example, the PID controller design result of momentum management system for roll/yaw axis control is provided and the simulation results are presented to provide further physical insight into the momentum management system.

• Journal of the Korean Data and Information Science Society
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• v.28 no.4
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• pp.819-829
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• 2017

The aim of this study is to analyze intraday price momentum. When price trends are formed, price momentum is the phenomenon that future prices tend to follow the trend. When the market opened and closed, a U-shaped trading volume pattern in which the trading volume was concentrated was observed. In this paper, we defined price momentum as the 10 minute trend after market opening is maintained until the end of market. The strategy is to determine buying and selling in accordance with the price change in the initial 10 minutes and liquidating at closing price. In this study, the strategy was empirically analyzed by using minute data, and it showed effectiveness, indicating the presence of an intraday price momentum. A pattern in which returns are increasing at an early stage is called a J-shaped pattern. If the J-shaped pattern occurs, we have found that the price momentum phenomenon tends to be stronger than otherwise. The DTW algorithm, which is well known in the field of pattern recognition, was used for J-shaped pattern recognition and the algorithm was effective in predicting intraday price movements. This study showed that intraday price momentum exists in the KOSPI200 futures market.