• Title/Summary/Keyword: regional gain

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Analysis of Real Estate Investment Trusts' Performance By Risk Adjustment Model (위험조정모형을 활용한 미국 REITs의 부동산 유형별 성과 분석)

  • Park, Won-Seok
    • Journal of the Economic Geographical Society of Korea
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    • v.12 no.4
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    • pp.665-680
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    • 2009
  • This study aims at analyzing the performance of Real Estate Investment Trusts(REITs) by Risk Adjustment Model. The main results are as follows. Firstly, most property types of REITs gain positive(+) excess overall returns at first and second period. On the contrary, most property types of REITs gain negative(-) excess overall returns and their standard deviations are larger at financial crisis period. Secondly, lodging, regional mall and commercial mortgage show lower risk-lower return, and freestanding, apartment and specialty show higher risk-higher return than average REITs, according to the CAPM results of . Moreover CAPM results of show the characteristics of REITs as investment commodities changes into higher risk-higher return for financial crisis period. Lastly, risk adjusted demanded returns of REITs are affected positively(+) by systemic risks and negatively(-) by unsystemic risks, according to the Risk Adjustment Model results of both and . Comparing risk adjusted demanded returns of REITs with their realized returns, healthcare reveals the largest outperformance.

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Effects of varying nursery phase-feeding programs on growth performance of pigs during the nursery and subsequent grow-finish phases

  • Lee, Chai Hyun;Jung, Dae-Yun;Park, Man Jong;Lee, C. Young
    • Journal of Animal Science and Technology
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    • v.56 no.7
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    • pp.24.1-24.6
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    • 2014
  • The present study investigated the effects of varying durations of nursery diets differing in percentages of milk products on growth performance of pigs during the nursery phase (NP) and subsequent grow-finish phase (GFP) to find the feasibility of reducing the use of nursery diets containing costly milk products. A total of 204 21-d-old weanling female and castrated male pigs were subjected to one of three nursery phase feeding programs differing in durations on the NP 1 and 2 and GFP diets containing 20%, 7%, and 0% lacrosse and 35%, 8%, and 0% dried whey, respectively, in 6 pens (experimental units) for 33 d: HIGH (NP 1, 2 and 3 diets for 7, 14, and 12 d), MEDIUM (NP 2 and 3 for 14 and 19 d), and LOW (NP 2 and 3 and GFP 1 for 7, 14, and 12 d). Subsequently, 84 randomly selected pigs [14 pigs (replicates)/pen] were fed the GFP 1, 2 and 3 diets during d 54-96, 96-135, and 135-182 of age, respectively. The final body weight (BW) and average daily gain (ADG) of nursery pigs did not differ among the HIGH, MEDIUM, and LOW groups (14.8, 13.3, and 13.7 kg in BW and 273, 225, and 237 g in ADG, respectively). The average daily feed intake during the nursery phase was greater (p < 0.01) in the HIGH group than in the MEDIUM and LOW groups, whereas the gain:feed ratio did not differ across the treatments. The BW on d 182 and ADG during d 54-182 were greater in the HIGH and MEDIUM groups vs. the LOW group (110.0, 107.6, and 99.6 kg in BW, respectively; p < 0.01). The backfat thickness and carcass grade at slaughter on d 183 did not differ across the treatments. In conclusion, the MEDIUM program may be inferior to the commonly used HIGH program in supporting nursery pig growth. Nevertheless, the former appears to be more efficient than the latter in production cost per market pig whereas the LOW program is thought to be inefficient because of its negative effect on post-nursery pig growth.

Effects of Dietary Supplementation of Complex Probiotics and Enzyme on Improvement of Farm Environment and Performance of Finishing Pigs (복합생균효소제 급여가 돈사 환경개선과 비육돈 생산성에 미치는 영향)

  • Kim D.H.;Kim H.R.
    • Journal of Animal Environmental Science
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    • v.12 no.2
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    • pp.67-74
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    • 2006
  • This experiment was carried out to investigate the effect of dietary supplementation of complex probiotics and enzyme on air quality in finishing pig building and the performance of finishing pigs. A total 117 crossbred $[(Landrace{\times}Yorkshire){\times}Duroc]$ pigs were randomly arranged into nine groups and assigned to three treatments. Pigs were fed a basal diet supplemented with 0, 0.1% level of probiotics and 0.1% level of complex probiotics and enzyme until the market weight for 42 days of the experimental period. Ammonia and hydrogen sulfide concentrations in the finishing pig building were significantly (p<0.05) decreased by dietary supplementation of complex probiotics and enzyme compared with those of control, however, indoor carbon dioxide concentration was not affected by dietary supplementation of probiotics or complex probiotics and enzyme. Average daily feed intake and feed conversion ratio were significantly improved (p<0.05) with dietary supplementation of 0.1% complex probiotics and enzyme; however, average daily gain was not affected by dietary supplementation of probiotics or complex probiotics and enzyme. In conclusion, the results obtained from this experiment suggest that the dietary supplementation of complex probiotics and enzyme for finishing pigs may improve air quality in the finishing pig building and the performance.

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Seasonal Production Performance of Angora Rabbits under Sub-temperate Himalayan Conditions

  • Bhatt, R.S.;Sharma, S.R.
    • Asian-Australasian Journal of Animal Sciences
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    • v.22 no.3
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    • pp.416-420
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    • 2009
  • An experiment of one-year duration was conducted on sixteen adult male German Angora rabbits under sub-temperate Himalayan conditions, to assess the effect of seasons on their body weight, wool production and quality, plane of nutrition and the digestibilities of nutrients. The daily meteorological attribute viz. minimum and maximum temperature; relative humidity and rainfall were recorded during winter (October to March), summer (April to June) and rainy (July to September) seasons. Biological parameters viz. body weight at the time of shearing, wool yield of individual rabbit, quality attributes of wool, fortnightly dry matter intake, chemical composition of feed and fodder and digestibilities of nutrients were recorded. Average minimum and maximum ambient temperature during winter, summer and rainy seasons were 4.6${\pm}$1.9 and 21.4${\pm}$2.8; 13.6${\pm}$2 and 30.3${\pm}$2; and 20.0${\pm}$1.4 and $31.0{\pm}1.8^{\circ}C$, respectively. The average relative humidity and total rainfall during winter, summer and rainy season were 69.5${\pm}$2.9% and 74.7${\pm}$21.8 mm; 58.6${\pm}$2.2% and 38.1${\pm}$18.1 mm; and 69${\pm}$4.2% and 104.0${\pm}$43.7 mm, respectively. The body weight of rabbits increased during all seasons, however, the maximum average daily weight gain of 3.47${\pm}$0.1 g was observed during the rainy season. The wool yield differed significantly (p$\leq$0.05) among different seasons with highest (140.4${\pm}$10 g) and lowest (108.5${\pm}$6.9 g) during winter and summer, respectively. The wool yield during the rainy season was 123.3${\pm}$5.2 g. The wool quality attributes revealed non-significant differences for staple length, fiber diameter, medulation percent, percent pure fibers and percent guard hairs. Plane of nutrition revealed significant (p$\leq$0.05) differences for concentrate intake. The concentrate intake was highest during winter (124.4${\pm}$2.6 g) followed by summer (86.8${\pm}$8.9 g) and rainy (80.7${\pm}$11.8 g) seasons. The reverse trend was observed in roughage intake with significantly (p${\leq}$0.05) lower intake during winter and highest during summer months. As a result total dry matter intake during different seasons was similar. Significant differences (p${\leq}$0.05) were observed for digestibilities of crude protein, crude fiber, ether extract, acid detergent fiber and cellulose. Digestibility of crude protein was highest during winter whereas the digestibilities of crude fiber, ether extract, acid detergent fiber and cellulose remained higher during the rainy season. During the winter season, the dry matter used for producing 100 g of wool was substantially lower than during other seasons and was concluded to be the best season for production of Angora wool under subtemperate Himalayan conditions.

The Alternatives of Communication Model and Geographic Visualization (커뮤니케이션 이론에 대한 대안과 지리적 시각화)

  • Son, Ill
    • Journal of the Korean association of regional geographers
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    • v.4 no.1
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    • pp.27-41
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    • 1998
  • The communication model has been accepted as the basic research paradigm of cartography since Board(1967) discussed the map/model analogy. In that paradigm, the function of maps was limited to the media of communication, and the functionality of maps was extremely emphasized. Therefore the model could not play its own role under the new environments such as computer, GIS, scientific visualization. Nowadays, the model has been attacked on several grounds and several alternatives have been suggested. Among the objections raised are (1) geographic visualization in which maps are considered as the tool of scientific visualization, (2) the contributions of art which are ignored in the positivist cartographic research, and (3) deconstructionist arguments which deny the scientific epistemology of map as an objective form of knowledge and recognize the textuality of maps including their metaphorical and rhetorical nature. Since a publication by McCormick et al, the scientific visualization based on the powerful computer graphics is used in a wide context. Maps are treated as the tools of scientific visualization and emphasis is on exploration of the geographic data to gain understanding and insight in the geographic visualization processes. The research on geographic visualization have stayed in the early stage of developing the conceptual model and the basic visualization tools. But, it is expected that the geographic or visual thinking which is emphasized in the geographic visualization will contribute the reestablishment of links between cartography and geography. Also, the development of scientific visualization tools and strategies will offer the opportunities to suggest a fresh idea, to synthesize information and develop holistic approaches to geographical problems.

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The Strategic Adoption of Creative Industry and Its Impact on the Reconstruction of Cultural Identity in Andong Province (문화콘텐츠산업의 전략적 수용과 안동 문화정체성의 재구성)

  • Cho, Gwan-Yeon
    • Journal of the Korean association of regional geographers
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    • v.17 no.5
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    • pp.568-581
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    • 2011
  • Having gone through the international financial crisis in 1997, the Korean government has sought a new future economic breakthrough. In this line, the government chose the cultural contents business and has supported this area intensively. With the cultural contents promotion policy initiated to foster the world-class culture business based on the traditional Korean culture, Andong, which has diverse cultural traditions, was rediscovered. The Andong local government and the local power elites decided that this promotion policy can not only be an opportunity to invigorate the sluggish local economy, but also help eliminate the old-fashioned image of Andong, and thus actively promoted the cultural contents business. However, there's a conflict among the local elites over which cultural tradition should be chosen as a genuine local cultural tradition. The different views and efforts regarding the cultural identity of the region by each entity not only contributed significantly to the recovery of the local economy by revitalizing tourism, but also helped the region gain an advantageous position in competition with other regions over limited resources. This progress became the groundwork for attracting major institutions and facilities, which are essential for the revitalization of the local economy.

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Volatility of Urban Housing Market and Real Estate Policy after the IMF crisis (도시 주택시장의 변동성과 부동산 정책의 한계 : IMF 위기 이후 서울을 중심으로)

  • Choi, Byung-Doo
    • Journal of the Korean association of regional geographers
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    • v.15 no.1
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    • pp.138-160
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    • 2009
  • The urban housing market in Korea, especially in Seoul and the Capital region, has been revitalized with massive urban (re)developments and expanding real estate finance after the IMF crisis. This brought about a boom of housing price during the mid-2000s, which has been virtually stabilized by strong regulation policies of the previous government. But with impacts of the recent international financial crisis together with some inherent problems, the housing market of Korea faces with a worry of collapse in relation with the financial market volatility and the serious depression of real economy, and hence the current government attempts to implement strong deregulation policies on the housing market. In this paper it is argued that this kind of volatility of urban housing market seems to be caused by strategies of capital which involve continuous massive urban (re)development, residential segregation and appropriation of monopoly rent(or capital gain), and fictitious capitalization of real estates and integration of real estate market and financial market. In these reasons, the current tendency of urban housing price shows a slow downward, which seems to give the current neoliberal government a rationale for deregulation policies to prevent the downward tendency. But this paper suggests that such a slow downward of housing price shift would have positive effects on the housing market in particular and social and economic situations in general, and hence an alternative housing policy is required to realize such positive effects.

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Effects of Dietary Energy Level and Slaughter Weight on Growth Performance and Grades and Quality Traits of the Carcass in Finishing Pigs (비육돈에서 사료의 에너지 수준과 도살체중이 성장성적과 도체의 등급 및 육질특성에 미치는 영향)

  • Park, Man-Jong;Jeong, Jin-Yeun;Ha, Duck-Min;Han, Jeong-Cheol;Sim, Tae-Geon;Park, Byung-Chul;Park, Gu-Boo;Joo, Seon-Tea;Lee, Chul-Young
    • Journal of Animal Science and Technology
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    • v.51 no.2
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    • pp.143-154
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    • 2009
  • (Y $\times$ L) $\times$ D-crossbred gilts and barrows weighing $80.2\pm0.2$ kg were fed a "medium-energy" (ME) or "low-energy" (LE) diet (3.2 vs 3.0 M cal DE/kg) and slaughtered at 110, 125, or 138 kg, after which physicochemical and sensory quality traits of major primal cuts of resulting carcasses were analyzed, under a 2 (sex) $\times$ 2 (diet) $\times$ 3 (slaughter weight; SW) factorial arrangement of treatments. The ADG and ADFI were greater (P<0.01) in barrows than in gilts and also in 125- and 138-kg vs 110-kg SW. Moreover, ADG and gain:feed were greater in ME vs LE (P<0.01), whereas ADFI was greater in LE vs ME (P<0.01). Backfat thickness, which increased with increasing SW (P<0.01), was not affected by sex or diet. Carcass marbling score was greater (P<0.01) in gilts and LE than in barrows and ME, respectively. Carcass quality grade, which was superior in LE vs ME, was not affected by SW, whereas the yield grade decreased abruptly between 125- and 138-kg SW primarily due to the upper limit of carcass weight imposed on the A and B grades. Physicochemical characteristics including pH, drip loss, and variables pertaining to color of belly, ham, and loin were not affected significantly by any of the treatment factors, albeit statistically significant in some cases, in terms of quality criteria. In sensory evaluation, the acceptability of fresh belly was not influenced by any of the treatment factors. Marbling score of fresh ham was greater in LE vs ME (P<0.01) and tended to increase between 110- and 125-kg SW (P=0.10); in loin, the increase of this variable between the two SW was significant (P<0.01). Following cooking, LE was superior to ME in the acceptability in belly and ham, but the effect of SW was insignificant in any of the sensory quality traits evaluated in this study in any of the three major primal cuts. In conclusion, the present results suggest that SW can be increased to up to 138 kg without compromising carcass quality and that LE has some beneficial effects on quality of the whole carcass and the major primal cuts.

Relationships of the Slaughter Weight to Growth Performance and Meat Quality Traits in Finishing Pigs Fed A Low-energy Diet (저에너지 사료로 비육된 돼지에서 도살체중과 성장성적 및 육질과의 관계)

  • Park, Man-Jong;Jeong, Jin-Yeun;Ha, Duck-Min;Park, Jae-Wan;Sim, Tae-Geon;Yang, Han-Sul;Lee, Chul-Young;Joo, Seon-Tea;Park, Byung-Chul
    • Journal of Animal Science and Technology
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    • v.51 no.2
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    • pp.135-142
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    • 2009
  • The present study was undertaken to investigate the effects of slaughter weight (SW) of finishing pigs fed a low-energy diet on growth efficiency and carcass quality and thereby to assess the optimal SW. (Yorkshire $\times$ Landrace) $\times$ Duroc-crossbred gilts and barrows were fed a diet containing 3,060 kcal DE/kg from 80-kg BW and slaughtered at 110, 125, or 135 kg, after which the belly, the most preferred cut in Korea, as well as the least preferred cuts ham and loin were subjected to physicochemical and sensory analyses. Both ADG and ADFI were greater (P<0.05) in the group slaughtered at 125 or 135 kg than in the 110-kg-SW group, whereas the opposite was true for gain:feed (P<0.01). Backfat thickness (BFT), which increased with increasing SW (P<0.01 and P<0.05), was greater in barrows than in gilts (P<0.01); BFT of barrows at 125 kg (24.6 mm) was comparable to that of gilts at 135 kg (24.2 mm). Physicochemical characteristics of the belly, ham and loin were minimally affected, if not affected, by SW; of note, however, the redness of the ham increased between 110- and 125-kg SW (P<0.05). In sensory evaluation of the belly, the fat:lean balance, which is a most important quality trait in this cut, was best (P<0.05) at 125 kg of SW, but the overall acceptability of this cut was not changed by SW. In the ham and loin, the marbling score increased (P<0.01) between 110- and 125-kg SW, whereas color, aroma, off-flavor, and drip were unaffected by SW. In addition, the acceptability of the loin increased (P<0.05) between 110- and 125-kg SW. In cooked meats, none of color, aroma, off-flavor, juiciness, tenderness, taste, and acceptability was changed by SW, except for an increase (P<0.05) in darkness of loin color between 110- and 125-kg SW. In conclusion, the optimal SW for the present subpopulation on the present low-energy diet lie in between 125 and 135 kg for gilts and at 125 kg for barrows.

Clinical Study on the Auricular Acupuncture Therapy for the Functional Headache (기능성(機能性) 두통(頭痛)에 대한 이침요법(耳鍼療法)의 임상적(臨床的) 연구(硏究))

  • Lyu Young-Su;Park Jin-Sung;Hwang Si-Young
    • Journal of Oriental Neuropsychiatry
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    • v.8 no.2
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    • pp.85-95
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    • 1997
  • After performing the auricular acupuncture therapy for the functional headache, we came to gain the following therapy effects. 1. In the whole of the patients of the functional headache, housewives of forties were most of all. 2. In the classification of mordern medicine on the patients of the functional headache, muscular contractional headache was most of all and in the classification of oriental differentiation of symtoms and signs(辨證), headache due to deficiency of blood(血虛頭痛) was most of all. 3. In the regional auricular acupuncture therapy for the functonal headache, Taiyang of auricular point(太陽點) had an effect on the lateral headache around the area of Taiyang of auricular point(太陽點) though the actions of sedation, analgesia, Neck of auricular point(頸點) had an effect on the muscular contractional headache of the occipital region, and Stomach of auricular point(胃點) had an effect on the headache of stagnation of phlegm(痰濁頭痛) of anterior region with a chronic digestive disease. 4. The average treatment times of the auricular acupuncture therapy in the patients of the functional headache was 4.08 times, if we have them take auricular acupuncture therapy about 4 times it could be thought to take excellent effect of treatment. 5. The effect of auricular acupuncture therapy for functional headache was turned out to be effective in the following orders ; lateral region(Group A), occipital region(Group B), anterior region(group C). Through the clinical consequences of therapy mentioned above, we came to confirm regular therapeuric effects and hereafter, it is considered that a clinical comparative study on oriental cure and auricular acupuncture therapy for headache has to be more progressed than now.

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