• 제목/요약/키워드: term relationships

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The Impact of Investor Sentiment on Energy and Stock Markets-Evidence : China and Hong Kong

  • Ho, Liang-Chun
    • 유통과학연구
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    • 제12권3호
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    • pp.75-83
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    • 2014
  • Purpose - The oil price affects company value, which is the present value of the expected cash flow, by affecting the discount rate and cash flow. This study examines the nonlinear relationships between oil price and stock price using the AlphaShares Chinese Volatility Index as the threshold. Research design, data, and methodology - Data comprise daily closing values of the Shanghai Stock Exchange Composite Index, Shenzhen Stock Exchange Composite Index, and Hang Seng Index of ChinaWest Texas Intermediate crude oil spot price and AlphaShares Chinese Volatility Index from May 25, 2007 to May 24, 2012. The Threshold Error Correction Model is used. Results - The results demonstrate different relationships between the stock price index and oil price under different investor sentiments; however, the stock price index and oil price could adjust to a long-term equilibrium the long-term causality tests between them were all significant. Conclusions - The relationship between the WTI and HANG SENG Index is more significant than the Shanghai Composites Index and Shenzhen Composite Index, when using the AlphaShares Chinese Volatility Index (ASC-VIX) as the investor sentiment variable and threshold.

Bank Credit, Trade Credit and Growth of Listed Agricultural Firms in Vietnam

  • LE, Ninh Khuong;BUI, Anh Tuan;PHAN, Tu Anh
    • The Journal of Asian Finance, Economics and Business
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    • 제7권11호
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    • pp.303-314
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    • 2020
  • This paper investigates the relationships between bank credit and trade credit with profit of 130 agricultural firms listed on Vietnam's stock exchanges during the period 2008-2014. Using the GMM approach, the paper reveals inverted-U shaped (∩) relationships between bank credit and trade credit with profit. Specifically, the optimal threshold of bank credit and trade credit to total assets of the firms are 0.4173 and 0.2425, respectively. The findings mean that if the ratio of bank credit to total assets exceeds the benchmark of 0.4173, firms should consider restructuring debts to get them back to the benchmark. To do so, firms should withdraw from those business fields that are not of their profession, in addition to liquiditizing unused assets to repay debts and not using short-term credit to invest in long-term projects. Firms may use trade credit wisely when other sources of finance are lacking. In concrete terms, firms can increase trade credit use if the ratio of trade credit to total assets is below 0.2425. Yet, if this ratio goes beyond this benchmark, firms should get back to this benchmark, e.g., keeping a suitable amount of inventory. The implications of this study is to boost firm growth in the proposed way.

Relationship between Interannual Variability of Phytoplankton and Tropical Cyclones in the Western North Pacific

  • Park, Jong-Yeon;Kug, Jong-Seong;Park, Ji-Soo;Chang, Chan-Joo
    • Ocean and Polar Research
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    • 제34권1호
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    • pp.29-35
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    • 2012
  • We investigated the interannual relationship between chlorophyll concentrations in the western North Pacific and tropical cyclones (TCs) in the western North Pacific by analyzing data collected for >12 years. Despite the short-term scale (2~3 weeks) in the contribution of tropical cyclones to phytoplankton, the current study revealed that the long-term chlorophyll variability in the western North Pacific is profoundly related to long-term variability in the frequency of TCs. It was also found that the Pacific decadal oscillation (PDO) tends to control such relationships between the 2 bio-physical systems. This result suggests a significant climatic relationship between TC activity and marine phytoplankton, and also suggests the possibility of more accurate estimations of primary production in the western North Pacific.

서비스 제공 시점에서 고객에게 지각된 판매원 노력의 선행변수와 결과변수

  • 김재영;이진용;한동철
    • 한국유통학회지:유통연구
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    • 제4권1호
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    • pp.1-16
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    • 1999
  • Although many studies have emphasized the importance of a saleperson's effort in the area of service marketing, no one has studied the variables which may influence, or may be influenced by salesperson's effort by customers. This study investigates the effects of percieved salesperson's effort on some performance variables and the effects of some selected variables on perceived salesperson's effort. Two sets of data were collected - one on the service of beauty hair shops and the other on that in fast food restaurants. The results indicate that empathy of employees is positively related to perceived effort, and perceived effort has the positive effects on satisfaction, trust, and long term relationship. However, the relationships between store image and perceived effort, and that between trust and long term relationship are only partly supported and the effects of perceived effort on long term relationship are not supported in our empirical tests.

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대처 개념의 국내 간호연구 분석 (Analysis of Nursing Studies of Coping Conducted in Korea from 1978 to 1995)

  • 소향숙;조복희;홍미순
    • 대한간호학회지
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    • 제26권3호
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    • pp.709-729
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    • 1996
  • This study was done to analyze the trends of research on coping in Korea, to suggest future direction, for research on coping, and ultimately to contribute to an increase in explanation of adaptation. This article reviewed 79 nursing research papers on coping done since 1978 by examining them according to the period of publication or presentation, research design, type of subjects, measurement instruments, research for a degree or not, range of reliability, and association of coping and related variables. The results are as follows : The number of studies on coping increased rapidly from the mid-1980's and decreased slowly from the mid-1990's. The maority of the studies were surveys, comparative studies, or correlational studies. The subects of the 46 studies were healthy people, while those in the remaining studies were patients with a variety of illnesses. Thirth-eight studies on coping were done for master's thesis, three for dissertion, and 38 were not degrees. The Bell and Jalowiec coping scales have not been used since the early 1990's. In contrast, Lazarus and Folkman's W.C.C.L. has been used increasingly since that time. The reliabilities of the coping scale were reported in 37 cases and the Cronbach's alpha coefficients were .71 to .86. All subjects reported using more problem-oriented coping than emotion-oriented coping in short-term or emotion-oriented coping and healthy groups did more long-term coping. It was difficult to describe consistently the relationship between stress and coping according to the type of coping scale or research subjects, but generally moderate relationships were found. This was due to instrumental problems and no consideration of situational context. The subject group who used more short-term coping and less long-term coping reported poorer mental status, and higher scores in burnout and state anxiey than others. That is, the relationship between stress and adaptation increased the power of explanation with intervening the mediating effect of coping. The association of locus of control, mastery, social support, and self-concept with coping showed positive relationships : those of uncertainty and severity in illness with coping showed negativerelationships ; those of state anxiety and depression with short-term coping were positive, and those of self-esteem with long-term coping or problem-oriented coping were negative. There were significant differences in the scores of types of coping according to religion, level of education, and socio-economic status. That is, Presbyterians and Catholics, those with higher education levels and higher socio-economic status used more long-term or problem-oriented coping. On the basis of the above findings the following recommendations are made : 1. There is a need to test the mediating effect of coping variable in order to clarify the concept. 2. Longitudinal studies are needed to determine the patterns of change in coping strategies when stressful events are encountered. 3. It's necessary to develop a reliable and variable measurement tool for coping. 4. There is a need to identify subscales of coping to increase explanation of variance 5. It's necessary to consider personal, situational, and antecedent variables : the characteristics of subject populations, the natures of illness and treatment situations. 6. The power of explanation of studies designed to identify the stress-adaptation process should be increased using the combination model of process-oriented coping and cognitive-structural model.

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치위생과 학생의 인성과 대인관계 (Personalities and interpersonal relationships of dental hygiene students)

  • 신명숙;황지민
    • 문화기술의 융합
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    • 제8권2호
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    • pp.91-97
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    • 2022
  • 본 연구는 치위생과 학생을 대상으로 인성과 대인관계가 어느 정도 인지 파악하고자 조사하였다. 조사는 2021년 4월 1일부터 6월 30일까지 진행되었다. 연구결과 인성은 3.42점, 대인관계는 3.46점이었으며, 일반적으로 대인관계 만족도와 대학생활 만족도에서 인성과 대인관계 하위영역 모두에서 통계적으로 유의한 차이를 보였다(p<.05, p<.001). 임상실습 경험이 있을수록 대인관계 중 친구관계와 교수관계에 대한 점수는 낮았다. 인성의 하위영역 중 도덕성과 사회성이 가장 높은 양의 상관관계(r=.674), 대인관계에서는 친구관계와 교수관계가 높은 상관관계(r=.606)로 분석되었다. 따라서 예비 치과위생사인 치위생과 학생들의 전인적 성장과 치과의료 현장 적응을 위해서는 가장 기본이 되는 인성과 대인관계 함양에 대해 대학에서도 장기적인 전략과 지속적인 교육적 접근이 필요하며, 치과위생사의 직무와 연계한 다양한 프로그램 개발 및 적용될 수 있는 방안이 모색되어야 할 것이다.

Fraud Investigation, Internal Audit Quality and Organizational Performance: Empirical Evidence from Thai Listed Companies

  • JANNOPAT, Saithip;PHORNLAPHATRACHAKORN, Kornchai
    • The Journal of Asian Finance, Economics and Business
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    • 제9권1호
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    • pp.311-324
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    • 2022
  • The objective of this study is to examine the influence of fraud investigation on organizational performance of Thai listed companies through mediating effects of internal audit quality, accounting information transparency and financial effectiveness, and moderating effect of corporate governance. In this study, 333 Thai listed companies are the samples of the study. Both the structural equation model and multiple regression analysis are used to examine the research relationships. The results of this study show that fraud investigation has a significant influence on internal audit quality, accounting information transparency, and financial effectiveness. Internal audit quality significantly influences accounting information transparency, financial effectiveness, and organizational performance while financial effectiveness significantly influences organizational performance. Next, both internal audit quality and financial effectiveness potentially mediate the fraud investigation-organizational performance relationships. In addition, corporate governance critically moderates the fraud investigation-internal audit quality relationships and the fraud investigation-financial effectiveness relationships. In summary, fraud investigation functions as an important valuable technique of internal audit practices. As a result, businesses must build and implement a systematic fraud investigation procedure to generate and improve beneficial outcomes in the short, medium, and long term.

의료기관 자본구조에 대한 상충관계이론과 자본조달 순위이론 실증분석 (An Empirical Analysis on Trade-off Theory and Pecking Order Theory for Medical Institutions's Capital Structure)

  • 김재명;함유상
    • 보건행정학회지
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    • 제16권4호
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    • pp.24-47
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    • 2006
  • Based on the findings of a study focused on medical institutions(Fama & French, 2002), this study determined possible causality between determinants of capital structure and liability level, while estimating targeted debt ratio. Moreover, it also examined hypotheses about the adjustment of targeted debt ratio and the of fundraising patterns, so that it verified the relative priority of trade-off theory and pecking order theory. First, profitability had positive(+) relationships with liability level, while investment opportunities had negative(-) relationships with liability level. This finding supported pecking order theory, and non-liability tax shield effects had negative(-) relationships with liability level as estimated in both trade-off theory and pecking order theory. Next, this study verified trade-off and pecking order theory at once by means of regression analysis about the variation of liability level in associations with disparity from targeted debt ratio and short-term fluctuation of profit and investment. As a result, it was noted that liability level became mean-reversed to targeted liability ratio but slowly, SO it was difficult to assert that such mean reverse may support trade-off theory. However, the finding that most of short-term fluctuations of profit and investment are absorbed into liabilities supported pecking order theory. On the other hand, it was found that the larger scale of medical institutions is more supportive of pecking order theory in the associations between liability level and profitability and the fundraising patterns than trade-off theory.

관계형 데이터베이스에서의 시맨틱 기반 키워드 탐색 시스템 (Semantic-based Keyword Search System over Relational Database)

  • 양영휴
    • 한국컴퓨터정보학회논문지
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    • 제18권12호
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    • pp.91-101
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    • 2013
  • 키워드의 모호성은 효율적인 키워드 탐색에 있어서 일반적인 이슈가 되어왔는데, 이 모호성은 탐색결과의 신뢰성에 큰 영향을 줄 수 있으며, 기본적으로 질의에 사용된 용어 자체가 가지는 문맥상 의미의 모호함에 기인한다. 질의 자체의 모호함뿐만 아니라, 사용자들이 그 탐색 결과를 적절하게 해석하기 위해 결과에 나타나는 키워드간의 관계도 중요하므로 명확하게 명시 되어야 한다. 이 논문에서는 기존의 질의 용어와 스키마 용어/인스턴스간의 키워드 매핑기법을 적용하여 키워드 탐색의 모호성을 해결한다. 용어간의 매핑에서는 질의 키워드와 스키마 용어간의 구문적 유사성은 물론 시맨틱 유사성까지 고려하기 때문에 기존의 시스템에 비해 매핑과 정밀도가 50% 이상 상승하는 결과를 얻을 수 있다. 탐색결과에 나타나는 용어간의 불분명한 관계를 점 더 명확하게 나타내기 위하여 시맨틱 웹 기술을 적용하여 키워드간의 의미 있는 관계를 더 많이 지식베이스 내에서 찾을 수 있도록 하였다.

Revisiting the Z-R Relationship Using Long-term Radar Reflectivity over the Entire South Korea Region in a Bayesian Perspective

  • Kim, Tae-Jeong;Kim, Jin-Guk;Kim, Ho Jun;Kwon, Hyun-Han
    • 한국수자원학회:학술대회논문집
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    • 한국수자원학회 2021년도 학술발표회
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    • pp.275-275
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    • 2021
  • A fixed Z-R relationship approach, such as the Marshall-Palmer relationship, for an entire year and for different seasons can be problematic in cases where the relationship varies spatially and temporally throughout a region. From this perspective, this study explores the use of long-term radar reflectivity for South Korea to obtain a nationwide calibrated Z-R relationship and the associated uncertainties within a Bayesian regression framework. This study also investigates seasonal differences in the Z-R relationship and their roles in reducing systematic error. Distinct differences in the Z-R parameters in space are identified, and more importantly, an inverse relationship between the parameters is clearly identified with distinct regimes based on the seasons. A spatially structured pattern in the parameters exists, particularly parameter α for the wet season and parameter β for the dry season. A pronounced region of high values during the wet and dry seasons may be partially associated with storm movements in that season. Finally, the radar rainfall estimates through the calibrated Z-R relationship are compared with the existing Z-R relationships for estimating stratiform rainfall and convective rainfall. Overall, the radar rainfall fields based on the proposed modeling procedure are similar to the observed rainfall fields, whereas the radar rainfall fields obtained from the existing Marshall-Palmer Z-R relationship show a systematic underestimation. The obtained Z-R relationships are validated by testing the predictions on unseen radar-gauge pairs in the year 2018, in the context of cross-validation. The cross-validation results are largely similar to those in the calibration process, suggesting that the derived Z-R relationships fit the radar-gauge pairs reasonably well.

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