• Title/Summary/Keyword: stock

Search Result 4,966, Processing Time 0.038 seconds

Performance of Laying Period of Two-way Crossbreed Parent Stock to Produce Laying-type Korean Native Commercial Chickens (산란 전용 토종 실용계 생산을 위한 2원교배 종계의 산란 능력 검정)

  • Kim, Chong-Dae;Choo, Hyo-Jun;Kang, Bo-Seok;Kim, Hak-Kyu;Heo, Kang-Nyeong;Lee, Myeong-Ji;Son, Bo-Ram;Suh, Ok-Suk;Choi, Hee-Cheol;Hong, Eui-Chul
    • Korean Journal of Poultry Science
    • /
    • v.39 no.3
    • /
    • pp.245-252
    • /
    • 2012
  • This study was carried out to investigate the performance of laying period of two-crossbred of Korean native chickens for producing laying hens. A total of four hundred eighty female 2-crossbred chicks that restored strains and were aboriginal at National Institute of Animal Science. There were four crossbreds (4 replications/crossbred, 30 birds/replication) as A) C strain ${\times}$ Y strain, B) C strain ${\times}$ L strain, C) C strain ${\times}$ G strain, and D) C strain ${\times}$ W strain, respectively. There were no significant difference on age at first egg among crossbreds (P>0.05). Egg weight and body weight of B crossbred at first egg was higher than other crossbreds (P<0.05). Body weight of B crossbred was the highest 20 to 72 weeks (P<0.05), and C and D crossbreds were lower compared to A and B crossbreds (P<0.05). Average feed intake of B crossbred was the highest among crossbreds (P<0.05), and that of A crossbred was higher compared to C and D crossbreds (P<0.05). Weekly feed intake of four crossbreds decreased from 50 weeks. Weekly egg weight of B crossbred was the highest and that of D crossbred was the lowest among crossbreds (P<0.05). Feed conversion ratio of A and B crossbreds was lower than that of C and D crossbreds. Hen-house egg production of C crossbred was the highest among crossbreds until 26 weeks old (P<0.05), but there was no significant difference among crossbreds from at the age of 26 weeks (P>0.05). Hen-day egg production decreased after at the age of 38 weeks. Weekly egg production of A and B crossbreds was higher compared to C and D crossbreds at the age of 68~72 weeks (P<0.05). These results suggested the basic data on the record of laying period of 2-crossbreed Korean Native Chickens for producing laying hens.

Effect of Stocking Density and Dietary Protein Level on Performance, Meat Quality and Serum Corticosterone of Slow-Growing Korean Meat-Type Chicken (Hanhyop 3) (사육밀도와 사료 단백질 수준이 저속 성장 육계(한협 3호)의 성장, 육질, 혈청 Corticosterone에 미치는 영향)

  • Lee, Jun Yeob;Lee, Jeong Heon;Lee, Myung Ho;Song, Yong Han;Lee, Jong In;Ohh, Sang Jip
    • Korean Journal of Poultry Science
    • /
    • v.43 no.4
    • /
    • pp.219-228
    • /
    • 2016
  • A total of 720 slow-growing Korean meat-type (Hanhyop 3) chicken were used to evaluate the effect of stocking densities and dietary protein levels on growth performance, meat quality, bone mineral composition, and serum corticosterone. Three (6.3, 9.5, and $12.6birds/m^2$) stocking densities and two dietary protein levels (19% and 18%) were factorially ($3{\times}2$) arranged for six treatments. Overall body weight gain (BWG) was highest (p<0.001) at the lowest stocking density ($6.3birds/m^2$). The feed intake (FI) of birds at the highest density ($12.6birds/m^2$) was lower than that of birds at the other densities, but resulted in better feed/gain (F/G). Among 18% protein groups, the overall FI of birds at $9.5birds/m^2$ was higher than that at the lowest density; therefore, birds at $9.5birds/m^2$ had poorer F/G than birds at the lowest density during days 61~75. Difference in F/G among densities was only significant (p<0.05) during days 61~75 but not significant (p>0.05) during days 41~60. Although there were no significant differences (p>0.05) in BWG and F/G between 19% and 18% dietary protein levels, FI of the 18% protein diet was less (p<0.05) than that of the 19% diet. Although there was no difference (p>0.05) in meat TBARS values, meat color differed (p<0.05) with stocking density and dietary protein levels. There was no effect (p>0.05) of stocking density and dietary protein levels on bone mineral composition. Serum corticosterone concentration increased (p<0.05) with increasing stock density but was not affected (p>0.05) by dietary protein levels. This study indicated that a density of $12.6birds/m^2$ is not recommended for slow-growing chickens. Between 19% and 18% dietary protein levels, 18% would be recommended for the Korean Hanhyop 3 chicken in the finishing stage.

Petrological Study of Cretaceous Granitic Recks in the Waryongsan Area, Southwestern Gyeongsang Basin: Compositional Change of Granitic Rocks by Magma Mingling (경상분지 남서부 와룡산 일대에 분포하는 백악기 화강암류에 관한 암석학적 연구: 마그마 불균질 혼합에 의한 화강암류의 조성변화)

  • Kim Kun-Ki;Kim Jong-Sun;Jwa Yong-Joo
    • The Journal of the Petrological Society of Korea
    • /
    • v.14 no.1
    • /
    • pp.12-23
    • /
    • 2005
  • Cretaceous granitic rocks in the Waryongsan area occur as a stock and show compositional changes with altitude. They include mafic microgranular enclaves (MME) with various sizes and types. The MMEs present clear evidence of magma mingling such as supercooling zone, mantling texture and back veining. The granitic rocks are divided into porphyritic granite, porphyritic granodiorite and fined-grained granite by their petrographic characteristics and modal compositions. The MMEs are discriminated to quartzdioritie, quartzmonzodiorite and tonalite. They have varying areal proportions in each granitic rock-type: 10∼l5% in the porphyritic granite, about 50% in the porphyritic granodiorite, and about 20% in the fined-grained granite. SiO₂ contents shows compositional change of 61.2∼72.0wt.%. Mean SiO₂ contents have 61.7wt.% in the porphyritic granodiorite, 68.6wt.% in the porphyritic granite. and 71.9wt.% in the fined-grained granite, respectively. Major oxide contents of the granitic rocks linearly vary with SiO₂ contents from the porphyiritic granodiorite to the fine-grained granite on Harker diagrams. Linear compositional variations seem to have been caused by differential degrees of mingling between mafic magma and host granite. Where larger amount of mafic magma was injected into the host granitic magma, the two magmas reached to thermal equilibrium more quickly and eventually chemical mixing occurred to produce the composition of the porphyritic granodiorite. On the other hand. less amount of injected mafic magma would have been responsible for mechanical mixing to produce the compositions of the porphyritic granite and the fined-grained granite. Therefore, it is considered that the granitic rocks in the Waryongsan area experienced magmas mingling resulting from the injection of more mafic magma into differentiating granitic magma, and that the compositional changes of the granitic rocks were ascribed to the degree of mingling between the two magmas.

Cold Storage and Quality Stability of Ascidian, Halocynthia roretzi (우렁쉥이 저온저장 및 품질안정성에 관한 연구)

  • Lee, Kang-Ho;Lee, Min-Ju;Jung, Byung-Chun;Hong, Byeong-Il;Cho, Ho-Sung;Lee, Dong-Ho;Jung, Woo-Jin
    • Korean Journal of Food Science and Technology
    • /
    • v.26 no.4
    • /
    • pp.382-388
    • /
    • 1994
  • Because of its restrictive harvest from spring to summer, It is necessary to preserve raw ascidians, Halocynthia roretzi, for the purpose of processing regardless of season. We evaluated low Temperature tolerance of ascidian and conditions for cold storage to secure the quality of the stock. To retard the browning of meat rapidly occurred after sucking, ascidians were blanched for 10 seconds in 10% boiling salt solution or dipped for 60 seconds in 0.2% $NaHSO_3$ solution, respectively. The samples were stored in ice, at $-17^{\circ}C$ or $-35^{\circ}C$ for 85 days, respectively. Changes in VBN, glycogen, brown pigment formation, total carotenoid, nucleotides and their related compounds during the storage were determined, and sensory evaluation of quality was also practiced. VBN and brown pigment formation were rapidly increased. Glycogen was gradually decreased and then not detectable after 85 days in case of ice storage. Lipophilic brown pigment was higher than hydrophilic and rapidly increased during storage. The result of sensory evaluation showed that the ascidian treated in 0.2% $NaHSO_3$ was good for 85 days of storage at $-35^{\circ}C$ . Judging from the results of chemical experiment and sensory evaluation, the quality of ascidian treated in 0.2% $NaHSO_3$ and stored at $-35^{\circ}C$ was better than that of other samples.

  • PDF

The Analysis of Management and the Method of Cultivation of Lentinus edodes I. for Full-Development of Mycelium in Bed Logs (표고재배(栽培)의 관리분석(管理分析)과 종균활착(種菌活着)을 위한 골목관리(管理)에 관(關)한 연구(硏究))

  • Joo, Myoung Chil
    • Journal of Korean Society of Forest Science
    • /
    • v.85 no.4
    • /
    • pp.596-604
    • /
    • 1996
  • This study was carried out to offer the successive method of cultivation and increase the productivity of mushroom yield with good quality through the elevation of rate of spawn development for Lentinus edodes. Studied about the analysis of current management of actural cultivation, a base of these, researched and presented for the upward method of productivity through an experiment of the high rate of spawn development and cultivation, putting first cultural environment. The results obtained were as follows ; 1. As the result of the analysis of current management in actural cultivation, many cultivators had a tendency to neglect managements of cultivation. These were reason for the deficiency of labour, funds and the lack of knowledge of cultivation, etc. 2. Water contents in bed logs according to the date of inoculation was shown as the decreasing order of 28.63%(3/12), 25.20%(3/25) and 23.19%(4/10). For the purpose of the maintenance of the water contents, the full-development of mycelium in bed logs and the dispersion of labour, the date of inoculation should be started in the early March. 3. The difference of the rate of spawn development among species was not shown, 100%(Mori 465). 98.98%(Mori 3046) on the spawn in high temperature and 98.97%(Mori 290) on the spawn in low temperature. The relative rate of spawn development was 97.70%(Mori 465), 82.45%(Mori 3046) on the spawn in high temperature and 88.87%(Mori 290) on the spawn in low temperature, it showed the difference. The spawn should be selected carefully in the future, as the spawn of cultivater's preference showed the difference for the development of mycelium. 4. The rate of spawn development following the date of inoculation was 100.0%(3/12), 98.98%(3/25) and 96.79%(4/10) on the spawn in high temperature and 99.09%(3/12), 98.97%(3/25) and 97.89% (4/10) in low temperature, it showed little difference. And the relative rate of spawn development was 97.70%(3/12), 82.45%(3/25) and 81.42%(4/10) on the spawn in high temperature and 93.27%(3/12), 89.67%(3/25) and 88.87%(4/10) that in low temperature, As the result of the relative rate, the time of inoculation of spawn should begin in the early March. 5. The height of stock logs on temporary placing should be less than 60cm at most on the surface, because of the low rate of water contents.

  • PDF

WHICH INFORMATION MOVES PRICES: EVIDENCE FROM DAYS WITH DIVIDEND AND EARNINGS ANNOUNCEMENTS AND INSIDER TRADING

  • Kim, Chan-Wung;Lee, Jae-Ha
    • The Korean Journal of Financial Studies
    • /
    • v.3 no.1
    • /
    • pp.233-265
    • /
    • 1996
  • We examine the impact of public and private information on price movements using the thirty DJIA stocks and twenty-one NASDAQ stocks. We find that the standard deviation of daily returns on information days (dividend announcement, earnings announcement, insider purchase, or insider sale) is much higher than on no-information days. Both public information matters at the NYSE, probably due to masked identification of insiders. Earnings announcement has the greatest impact for both DJIA and NASDAQ stocks, and there is some evidence of positive impact of insider asle on return volatility of NASDAQ stocks. There has been considerable debate, e.g., French and Roll (1986), over whether market volatility is due to public information or private information-the latter gathered through costly search and only revealed through trading. Public information is composed of (1) marketwide public information such as regularly scheduled federal economic announcements (e.g., employment, GNP, leading indicators) and (2) company-specific public information such as dividend and earnings announcements. Policy makers and corporate insiders have a better access to marketwide private information (e.g., a new monetary policy decision made in the Federal Reserve Board meeting) and company-specific private information, respectively, compated to the general public. Ederington and Lee (1993) show that marketwide public information accounts for most of the observed volatility patterns in interest rate and foreign exchange futures markets. Company-specific public information is explored by Patell and Wolfson (1984) and Jennings and Starks (1985). They show that dividend and earnings announcements induce higher than normal volatility in equity prices. Kyle (1985), Admati and Pfleiderer (1988), Barclay, Litzenberger and Warner (1990), Foster and Viswanathan (1990), Back (1992), and Barclay and Warner (1993) show that the private information help by informed traders and revealed through trading influences market volatility. Cornell and Sirri (1992)' and Meulbroek (1992) investigate the actual insider trading activities in a tender offer case and the prosecuted illegal trading cased, respectively. This paper examines the aggregate and individual impact of marketwide information, company-specific public information, and company-specific private information on equity prices. Specifically, we use the thirty common stocks in the Dow Jones Industrial Average (DJIA) and twenty one National Association of Securities Dealers Automated Quotations (NASDAQ) common stocks to examine how their prices react to information. Marketwide information (public and private) is estimated by the movement in the Standard and Poors (S & P) 500 Index price for the DJIA stocks and the movement in the NASDAQ Composite Index price for the NASDAQ stocks. Divedend and earnings announcements are used as a subset of company-specific public information. The trading activity of corporate insiders (major corporate officers, members of the board of directors, and owners of at least 10 percent of any equity class) with an access to private information can be cannot legally trade on private information. Therefore, most insider transactions are not necessarily based on private information. Nevertheless, we hypothesize that market participants observe how insiders trade in order to infer any information that they cannot possess because insiders tend to buy (sell) when they have good (bad) information about their company. For example, Damodaran and Liu (1993) show that insiders of real estate investment trusts buy (sell) after they receive favorable (unfavorable) appraisal news before the information in these appraisals is released to the public. Price discovery in a competitive multiple-dealership market (NASDAQ) would be different from that in a monopolistic specialist system (NYSE). Consequently, we hypothesize that NASDAQ stocks are affected more by private information (or more precisely, insider trading) than the DJIA stocks. In the next section, we describe our choices of the fifty-one stocks and the public and private information set. We also discuss institutional differences between the NYSE and the NASDAQ market. In Section II, we examine the implications of public and private information for the volatility of daily returns of each stock. In Section III, we turn to the question of the relative importance of individual elements of our information set. Further analysis of the five DJIA stocks and the four NASDAQ stocks that are most sensitive to earnings announcements is given in Section IV, and our results are summarized in Section V.

  • PDF

The Study on New Radiating Structure with Multi-Layered Two-Dimensional Metallic Disk Array for Shaping flat-Topped Element Pattern (구형 빔 패턴 형성을 위한 다층 이차원 원형 도체 배열을 갖는 새로운 방사 구조에 대한 연구)

  • 엄순영;스코벨레프;전순익;최재익;박한규
    • The Journal of Korean Institute of Electromagnetic Engineering and Science
    • /
    • v.13 no.7
    • /
    • pp.667-678
    • /
    • 2002
  • In this paper, a new radiating structure with a multi-layered two-dimensional metallic disk array was proposed for shaping the flat-topped element pattern. It is an infinite periodic planar array structure with metallic disks finitely stacked above the radiating circular waveguide apertures. The theoretical analysis was in detail performed using rigid full-wave analysis, and was based on modal representations for the fields in the partial regions of the array structure and for the currents on the metallic disks. The final system of linear algebraic equations was derived using the orthogonal property of vector wave functions, mode-matching method, boundary conditions and Galerkin's method, and also their unknown modal coefficients needed for calculation of the array characteristics were determined by Gauss elimination method. The application of the algorithm was demonstrated in an array design for shaping the flat-topped element patterns of $\pm$20$^{\circ}$ beam width in Ka-band. The optimal design parameters normalized by a wavelength for general applications are presented, which are obtained through optimization process on the basis of simulation and design experience. A Ka-band experimental breadboard with symmetric nineteen elements was fabricated to compare simulation results with experimental results. The metallic disks array structure stacked above the radiating circular waveguide apertures was realized using ion-beam deposition method on thin polymer films. It was shown that the calculated and measured element patterns of the breadboard were in very close agreement within the beam scanning range. The result analysis for side lobe and grating lobe was done, and also a blindness phenomenon was discussed, which may cause by multi-layered metallic disk structure at the broadside. Input VSWR of the breadboard was less than 1.14, and its gains measured at 29.0 GHz. 29.5 GHz and 30 GHz were 10.2 dB, 10.0 dB and 10.7 dB, respectively. The experimental and simulation results showed that the proposed multi-layered metallic disk array structure could shape the efficient flat-topped element pattern.

Biomass Expansion Factors for Pinus densiflora in Relation to Ecotype and Stand Age (소나무의 생태형과 임령에 따른 물질 현존량 확장계수)

  • Park, In Hyeop;Park, Min Su;Lee, Kyeong Hak;Son, Yeong Mo;Seo, Jeong Ho;Son, Yowhan;Lee, Young Jin
    • Journal of Korean Society of Forest Science
    • /
    • v.94 no.6
    • /
    • pp.441-445
    • /
    • 2005
  • Researches on estimating national-scaled forest biomass are being carried out to quantify the carbon stock of forests with the Kyoto Protocol. In general, estimates of national-scaled forest biomass are based on forest inventory data which provides estimates of forest area, stem volume, and growth of stem by age classes. Estimates of forest biomass are, however, obtained by converting stem volumes to dry weight with stem density and thereafter to whole tree biomass with biomass expansion factors (ratios of whole tree dry weight to stem dry weight). Pinus densiflora is widely distributed and one of the most economically important timber species in Korea. The species are largely grouped into two ecotypes of Geumgang and Jungbu. Stems of Geumgang type trees are straight and high compared to those of Jungbu type trees. The objective of this study was to determine and compare stem density and biomass expansion factors fore two ecotypes of Pinus densiflora according to stand age. Stem density of both ecotypes of Pinus densora increased and biomass expansion factors of them decreased with increasing tree age. In he same age class, stem density and biomass expansion factor of Geungang type Pinus densiflora were lower than those of Jungbu type Pinus densiflora. There were statistically significant differences in stem density and biomass expansion factors between Geumgang type and Jungbu type Pinus densiflora in 0-20-year-old stands and 40-60-year-old stands. Our results suggested that the reliability of the national forest biomass inventory could be improved by applying the ecotype- and age-dependent stem density and biomass expansion factors.

Determinants of Mobile Application Use: A Study Focused on the Correlation between Application Categories (모바일 앱 사용에 영향을 미치는 요인에 관한 연구: 앱 카테고리 간 상관관계를 중심으로)

  • Park, Sangkyu;Lee, Dongwon
    • Journal of Intelligence and Information Systems
    • /
    • v.22 no.4
    • /
    • pp.157-176
    • /
    • 2016
  • For a long time, mobile phone had a sole function of communication. Recently however, abrupt innovations in technology allowed extension of the sphere in mobile phone activities. Development of technology enabled realization of almost computer-like environment even on a very small device. Such advancement yielded several forms of new high-tech devices such as smartphone and tablet PC, which quickly proliferated. Simultaneously with the diffusion of the mobile devices, mobile applications for those devices also prospered and soon became deeply penetrated in consumers' daily lives. Numerous mobile applications have been released in app stores yielding trillions of cumulative downloads. However, a big majority of the applications are disregarded from consumers. Even after the applications are purchased, they do not survive long in consumers' mobile devices and are soon abandoned. Nevertheless, it is imperative for both app developers and app-store operators to understand consumer behaviors and to develop marketing strategies aiming to make sustainable business by first increasing sales of mobile applications and by also designing surviving strategy for applications. Therefore, this research analyzes consumers' mobile application usage behavior in a frame of substitution/supplementary of application categories and several explanatory variables. Considering that consumers of mobile devices use multiple apps simultaneously, this research adopts multivariate probit models to explain mobile application usage behavior and to derive correlation between categories of applications for observing substitution/supplementary of application use. The research adopts several explanatory variables including sociodemographic data, user experiences of purchased applications that reflect future purchasing behavior of paid applications as well as consumer attitudes toward marketing efforts, variables representing consumer attitudes toward rating of the app and those representing consumer attitudes toward app-store promotion efforts (i.e., top developer badge and editor's choice badge). Results of this study can be explained in hedonic and utilitarian framework. Consumers who use hedonic applications, such as those of game and entertainment-related, are of young age with low education level. However, consumers who are old and have received higher education level prefer utilitarian application category such as life, information etc. There are disputable arguments over whether the users of SNS are hedonic or utilitarian. In our results, consumers who are younger and those with higher education level prefer using SNS category applications, which is in a middle of utilitarian and hedonic results. Also, applications that are directly related to tangible assets, such as banking, stock and mobile shopping, are only negatively related to experience of purchasing of paid app, meaning that consumers who put weights on tangible assets do not prefer buying paid application. Regarding categories, most correlations among categories are significantly positive. This is because someone who spend more time on mobile devices tends to use more applications. Game and entertainment category shows significant and positive correlation; however, there exists significantly negative correlation between game and information, as well as game and e-commerce categories of applications. Meanwhile, categories of game and SNS as well as game and finance have shown no significant correlations. This result clearly shows that mobile application usage behavior is quite clearly distinguishable - that the purpose of using mobile devices are polarized into utilitarian and hedonic purpose. This research proves several arguments that can only be explained by second-hand real data, not by survey data, and offers behavioral explanations of mobile application usage in consumers' perspectives. This research also shows substitution/supplementary patterns of consumer application usage, which then explain consumers' mobile application usage behaviors. However, this research has limitations in some points. Classification of categories itself is disputable, for classification is diverged among several studies. Therefore, there is a possibility of change in results depending on the classification. Lastly, although the data are collected in an individual application level, we reduce its observation into an individual level. Further research will be done to resolve these limitations.

Unbilled Revenue and Analysts' Earnings Forecasts (진행기준 수익인식 방법과 재무분석가 이익예측 - 미청구공사 계정을 중심으로 -)

  • Lee, Bo-Mi;Park, Bo-Young
    • Management & Information Systems Review
    • /
    • v.36 no.3
    • /
    • pp.151-165
    • /
    • 2017
  • This study investigates the effect of revenue recognition by percentage of completion method on financial analysts' earnings forecasting information in order industry. Specifically, we examines how the analysts' earnings forecast errors and biases differ according to whether or not to report the unbilled revenue account balance and the level of unbilled revenue account balance. The sample consists of 453 firm-years listed in Korea Stock Exchange during the period from 2010 to 2014 since the information on unbilled revenue accounts can be obtained after the adoption of K-IFRS. The results are as follows. First, we find that the firms with unbilled revenue account balances have lower analysts' earnings forecast accuracy than the firms who do not report unbilled revue account balances. In addition, we find that the accuracy of analysts' earnings forecasts decreases as the amount of unbilled revenue increases. Unbilled revenue account balances occur when the revenue recognition of the contractor is faster than the client. There is a possibility that managerial discretionary judgment and estimation may intervene when the contractor calculates the progress rate. The difference between the actual progress of the construction and the progress recognized by the company lowers the predictive value of financial statements. Our results suggest that the analysts' earnings forecasts may be more difficult for the firms that report unbilled revenue balances as applying the revenue recognition method based on the progress criteria. Second, we find that the firms reporting unbilled revenue account balances tend to have higher the optimistic biases in analysts' earnings forecast than the firms who do not report unbilled revenue account balances. And we find that the analysts' earnings forecast biases are increases as the amount of unbilled revenue increases. This study suggests an effort to reduce the arbitrary adjustment and estimation in the measurement of the progress as well as the introduction of the progress measurement method which can reflect the actual progress. Investors are encouraged to invest and analyze the characteristics of the order-based industry accounting standards. In addition, the results of this study empower the accounting transparency enhancement plan for order industry proposed by the policy authorities.

  • PDF