Testing the Monday Effect in U.S. Stock Return: A Spatial Dominance Approach 1

Sungro Lee,Chang Sik Kim,In-Moo Kim 한국계량경제학회 2008 한국계량경제학회 학술대회 논문집 Vol.2009 No.-

This paper presents tests of Monday effect in U.S. stock market using the concept of spatial dominance that was developed in Park (2007). The spatial dominance provides a new tool to test the distributional dominance of one process over the other even under nonstationarity. Extending the notion of well-developed stochastic dominance into the nonstationary time series whose distributions are time varying, the existence of the Monday effect in U.S. stock market is investigated. Test procedures in the previous literature including stochastic dominance compare expected utilities only at a specific time, usually market closing time. Spatial dominance, however, enables us to analyze the expected sum of instantaneous utilities during trading time. We, therefore, can consider intraday patterns of returns using high frequency data for the testing of the Monday effect. When we apply spatial dominance approach to S&P 500 return over the period 1988-2004, significant Monday effect is not found whereas Cho, Y.-H. et al. (2007) reports inconclusive results for the same period with stochastic dominance. Furthermore, we find dominance relationships among groups different weekdays. The group consists of Tuesday and Wednesday returns spatially dominates the other groups with three other weekdays. We also find that returns on Wednesday also spatially dominates returns on Friday. Our results are consistent with recent findings that Monday effect in U.S. stock market has been disappeared since 1987.

뇌반구(腦半球) 우세성과 학교교육간의 관계

김남일 충남대학교 교육발전연구소 2005 교육연구논총 Vol.26 No.2

본 연구는 뇌반구 이론에 입각해 우리의 교육을 재조명하기 위한 목적으로 문헌연구와 선행연구 결과들을 근거로 하여 뇌반구 우세성과 학교교육간에 관련성이 있는가를 살펴보기 위한 것이다. 연구대상은 대전광역시 소재 중·고대학교 1개교씩의 2학년 학생들로, 중학생 186명, 고등학생 457명(인문계, 189명, 실업계, 103명, 과학고, 56명, 예술고, 109명), 대학생 199명으로 총 842명이었다. 본 연구에서 사용한 측정도구는 뇌반구 우세검사였다. 본 연구의 결과를 요약하면, 첫째, 학교 급별에 따라 뇌반우세 유형에 차이가 있다. 우뇌형의 변화는 없고 주로 전뇌형이 좌뇌화 되었다. 둘째, 고등학교 학교 유형간에 뇌반구 우세 유형 비율에 차이가 있다. 과학고는 좌뇌형의 비율이 높고, 인문계고와 예술고는 전뇌형의 비율이 그리고 실업계고는 우뇌형의 비율이 높다. The purpose of this study is to reexamine Korean education on the ground of the theory of brain hemisphere. The questions of this study, based on the results of reviews of literature and precedent researches, are as follows. First, Are there any differences among middle school, high school and college students in the ratios of brain dominance? Second, Are there any differences in the ratios of brain dominance among academic high school, science high school, vocational high school and art high school students? The subjects for the study are 842students. They consisted of 186 middle school students, 457 high school students and 199 college students. The instrements for collecting data of the study was Brain Dominance Test. The major results of this study are as follows. First, the ratio distrbutions of brain dominance type show significant shifts from middle school to college. College students show a lower ratio on whole-brain dominance but a higher on left-brain dominance as compared to middle or high school students. Second, significant differences are found among types of high school in the ratio of brain dominance. The students of science high school show a higher ratio on left-brain dominance and a lower ratios on whole- and right-brain dominance than the students of other types of high school. Academic high school students are not different from art high school students in the ratio distribution. The students of vocational high school show a lower ratio on left-brain dominance and a higher ratio on right-brain dominance as compared to other types of high school students.

유전의 우성과 열성에 대한 중-고등학생과 교사의 오개념 분석

박시호,권영식,이길재 韓國敎員大學校 敎育硏究院 2009 敎員敎育 Vol.25 No.3

본 연구는 제7차 교육과정이 적용되고 있는 중학교 3학년,고등학교 3학년 그리고 교사를 대상으로 우성과 열성,불완전 우성,완전 우성,공우성에 대한 개념에서 나타나는 오개념을 알아보고자 하였다. 중학교 3학년 264명,고등학교 자연계열 3학년 학생 103명,생물 교사 53명의 응답을 분석하였다. 이 연구의 결과에 따르면,특히,학생과 교사 모두 우성은 '열성을 억제하고 표현되는 형질이다.' 열성에 대해 학생들은 '부모로부터 유전자를 전달받지 못하여 나타난다.’라는 오개념 비율이 높게 나타났다. 둘째,중학생의 24.4%, 고등학생의 19.4%가 '교배 결과 많이 출현하는 형질이 우성이다.’라는 오개념을 가지고 있었다. 셋째,중학생의 48.1%. 고등학생의 36.9%가 '열성은 생활에 불리하거나 우성이 우수한 형질이다.’라는 오개념을 가지고 있었다. 넷째,완전 우성,불완전 우성,공우성에 대해 교사와 학생 모두 높은 비율의 오개념을 가지고 있었다. 이 연구를 통해 교사는 교육을 실행하는 동안 '우성이 열성을 지배한다’ '억제한다’ '누른다’ 등의 표현은 사용하지 않는 것이 타당할 것으로 생각된다. 또한 개체 수준의 전달 유전과 분자 수준의 형질 발현과정을 통합하는 수업전략이 필요함을 알 수 있었다. The purpose of this study was to analyze the misconceptions of definition of dominance and recessive traits, law of dominance, incomplete dominance and codominance which middle and high school students and teachers have. For this purpose, we analyzed a questionnaire of 103 natural science students in the third grade and 264 middle school students in the third grade and 53 biology teachers. According to the results of analyzing the questionnaires, most of the students and teachers had various misconceptions on the concepts of dominance. Expecially, They had the misconception that 'dominance is controls completely recessive and then it is expressed' and the students about recessive characteristic shows because of gene isn't handed down from parents to progeny. Second, 24.4% of middle school students and 19.4% of high school students had the misconceptions many expressed trait is dominance. Third, 48.1% of middle school students and 36.9% of high school students had the misconceptions the recessive characteristic have a disadvantage in life or the dominance is predominance characteristics. Fourth, most of the students and teachers had very high misconceptions on complete dominance, incomplete dominance and codominance. According to this study, such expressions as 'dominant characteristics governs, controls, or suppresses recessive characteristics,' don't have to use in lessons of gene. Lessons for middle and high school students need to integrate transmission heredity at the object level and the process of characteristics expression at the molecular level.

주시안과 눈꺼풀 올림근 기능의 상관관계 분석

하기영,서현우,김부영,김태연,박성규,Ha, Ki-Young,Suh, Hyeun-Woo,Kim, Boo-Yeong,Kim, Tae-Yeon,Park, Sung-Gyu 대한성형외과학회 2010 Archives of Plastic Surgery Vol.37 No.3

Purpose: Most of the bilateral structures in our body are not perfectly balanced, such that one side is preferred than the other or it has physiological superiority. Eyes also have an imbalance; the eye with sensory and motional superiority compared to the other is called dominant eye. Authors of this study focused on analyzing the correlation between the dominant eye and levator palpebrae superioris muscle. Methods: The subject of this study was 42 patients with no ptosis and with no past history of blepharoplasty. Hand dominance was identified through questionnaire and dominant eye was identified by hole-in-the-card dominance test (Dolman's test) in all patients. The function of levator palpebrae superioris muscle was measured by MLD (marginal limbal distance). During the measuring procedure, frontalis muscle was not inhibited to avoid the eyelid skin hooding. Results: Out of 42 patients, 27 patients (64.3%) were right ocular dominant, 15 patients (35.7%) were left ocular dominant, 36 patients (85.7%) were right hand dominant and 4 patients (9.5%) were left hand dominant. Out of 27 right ocular dominant patients, right MLD was larger than the left in 26 patients (96.3%). It was larger in average of 0.47 mm (p<0.001) in 27 right ocular dominant patients. Also, left MLD was larger than the right in 11 patients (73.3%) out of 15 left ocular dominant patients. It was larger in average of 0.57 mm (p=0.003) in 27 left ocular dominant patients. MLD on the side of the dominant eye was larger in average of 0.50 mm (p<0.001) than the MLD of non-dominant eye side. Right MLD was larger than the left in average of 0.28mm (p=0.010) in right hand dominant patients, and left MLD was larger than the right in average of 1.15 mm (p=0.025) in left hand dominant patients. Conclusion: The function of levator palpebrae muscle differs in right and left, and the difference correlates with the dominant eye. Also, the function of levator palpebrae muscle is stronger in the dominant eye. We were able to present statistical evidence regarding the difference of the function in right and left levator palpebrae muscle. This may be a factor worth consideration in terms of balancing the eyes during the blepharoplasty.

Eye Dominance and Reading Speed

Chen, Ai-Hong,Mustapha, Nurfazliha,Rahman, Muhamad Irwan The Korean Ophthalmic Optics Society 2011 한국안광학회지 Vol.16 No.3

Purpose: The aim of this study was to investigate eye dominance and reading performance based on eye movements and reading speed. Methods: The eye dominance of 30 subjects was determined using the sighting test (hole formed by hands). The subjects were asked to read the numerical reading material aloud in English from left to right and from right to left at random. The number of saccades, regressions, and inter-fixations per minute was calculated using Visual-Oculography (VOG) and the reading speed was recorded as number of characters per minute using stopwatch. Results: No significant differences in reading speed among right and left eye dominant subjects as they read from left to right and right to left directions (p>0.05). However, left eye dominant subjects were found to read significantly faster compared to right eye dominant subjects in both directions of reading (p<0.05). In term of eye movement patterns, no significant differences in saccades, regressions, and inter-fixations per minute were found between subjects with right eye dominance and left eye dominance for both reading directions (p>0.05). Conclusions: Reading performance in term of eye movement and speed was not affected by eye dominance, but subjects with left eye dominance read faster than subjects with right eye dominance.

주시(Eye Dominance)에 관한 조사 및 인간공학적 분석

정화식 대한안전경영과학회 2004 대한안전경영과학회지 Vol.6 No.2

It is known that most people have a dominant eye, even though each of their two eyes in isolation may provide equal vision. In this study, 600 Korean male and female subjects aging from 11 to 78 were selected to investigate the various statistics about eye dominance( whether the left or right eye is dominant} in Korean and their employment characteristics of preferred eye in sighting diverse things. A simple sighting test was applied such that subjects are requested to aim a distance target through small hole in B4 sized paper with both eyes open. The dominant eye was determined by alternate occlusion: when viewing with the dominant eye into the hole is aligned with the target, whereas when viewing with the other eye into the hole appears offset to one side. The descriptive statistics showed that 83.7% and 16.3% were right and left eye dominant respectively. Moreover, various statistical analysis revealed that general tendency of eye dominance was varied by age, gender, hand dominance and visual acuity. It was thus found from these results that people sighting their eyes differently depending on the eye dominance when they sight things.

Eye Dominance and Reading Speed

Ai-Hong Chen 한국안광학회 2011 한국안광학회지 Vol.16 No.3

Purpose: The aim of this study was to investigate eye dominance and reading performance based on eye movements and reading speed. Methods: The eye dominance of 30 subjects was determined using the sighting test (hole formed by hands). The subjects were asked to read the numerical reading material aloud in English from left to right and from right to left at random. The number of saccades, regressions, and inter-fixations per minute was calculated using Visual-Oculography (VOG) and the reading speed was recorded as number of characters per minute using stopwatch. Results: No significant differences in reading speed among right and left eye dominant subjects as they read from left to right and right to left directions (p>0.05). However, left eye dominant subjects were found to read significantly faster compared to right eye dominant subjects in both directions of reading (p<0.05). In term of eye movement patterns, no significant differences in saccades, regressions, and inter-fixations per minute were found between subjects with right eye dominance and left eye dominance for both reading directions (p>0.05). Conclusions: Reading performance in term of eye movement and speed was not affected by eye dominance, but subjects with left eye dominance read faster than subjects with right eye dominance.

시장지배적 지위의 남용

김두진 ( Doo-jin Kim ) 한국경제법학회 2006 경제법연구 Vol.5 No.2

공정거래법상의 시장지배적지위의 남용 금지는 민법상의 권리남용의 금지와 비교될 수 있지만 후자와 달리 남용의 대상이 ‘권리’가 아닌 ‘시장지배적 지위끼며, 그 자체 독점이라는 부정적 상황에 대한 평가를 내포하고 있다. 공정거래위원회에 의하여 시장지배적 지위의 남용행위로서 시정명령 또는 과징금납부명령을 받은 사례는 38건에 불과하다. 이는 기업결합 사건(772건), 부당한 공동행위 사건(525건) 및 불공정거래행위 사건(6,169건)에 비하여 매우 적은 수이다. 그러나 자원의 효율적 배분의 저해우려와 소비자잉여의 감소라는 독과점의 폐해를 막고 시장의 경쟁을 유지ㆍ촉진하여 소비자후생을 증대하기 위해서는 시장지배적 지위의 남용은 효과적으로 규제되어야 한다. 공정거래법상의 시장지배적 지위의 추정조항은 공정거래법의 1999년 개정시(1999.2.5 법률 5813호) 종래의 시장지배적사업자의 지정ㆍ고시제도를 폐지하고 종전의 지정요건에 해당하는 경우에 시장지배적 사업자로 추정함으로써 시장지배력의 존재에 대한 입증책임을 전환하기 위하여 도입된 것이다. 여기에서 제4조제1호의 시장지배적사업자는 독점기업 또는 지배적 기업을 의미하고, 제2호의 시장지배적사업자는 견고한 과점기업을 의미한다. 공정거래법의 시장지배적 사업자의 추정조항은 그 기준이 너무 높아서 실제로는 시장지배적 지위를 차지하고 있음에도 불구하고 이 기준에 해당하지 않아서 규제받지 않는 경우가 생길 수 있으므로 독과점규제의 실효성을 높이기 위해서는 추정기준을 독일법의 수준으로 인하하자는 입법론이 제시되고 있다. 그 외에도 입증책임의 완화를 위하여 도입된 추정조항에 공정거래위원회가 모든 시장지배적 지위의 남용여부가 문제된 사건에서 시장지배적 지위를 판정하기 위하여 1차적으로 시장점유율을 기준으로 판단함에 있어서 사실상 전적으로 이에 의존하는 경향을 보이고 있는 것은 문제이다. 공동의 시장지배를 구성하는 각각의 사업자들이 각각 지배적지위를 남용하는 공동의 시장지배의 법리는 유럽연합에서 확립되었다. 표산법에서 공동의 시장지배로 인정될 수 있는 사업자로서는 기업집단, 즉 콘쩨른 또는 모자회사, 카르텔, 계약관계 등으로 연결된 회사들을 들고 있다. 우리 공정거래위원회는 15개 신용카드회사의 시장지배적 지위 남용사건에서 유사한 내용의 법리를 구성하였으나 대법원은 공정위의 주장을 받아들이지 않았다. 그러나 우리 법에서도 공정거래법 제2조 제7호, 제4조제2호를 근거로 기업집단, 모자회사, 계약관계나 제휴 등으로 경제적으로 연결된 복수의 기업에 의한 공동의 시장지배적 지위의 남용의 법리가 적용될 수 있을 것이다. Ⅲ에서는 관련시장의 획정 문제에 관하여, IV에서는 필수설비를 포함하는 거래거절, 약탈적 가격책정관행에 관한 미국 판례법을 중심으로 남용행위의 유형을 살펴보았다. Ⅴ에서는 결론으로서 시장지배적 지위의 남용에 대한 구제책과 관련하여 이행강제금의 도입 등 몇 가지 입법론을 제안하였다. The provisions that ban the abuse of a market-dominant position {Section 3-2 in the Monopoly Regulation & fair Trade Act (hereinafter, “fair Trade Act”)] should be applied effectively so as to keep market competition buoyant, resulting in the efficient allocation of resources and enlargement of consumer welfare in the national economy. Since a monopolistic or oligopolistic situation in some individual markets would decrease consumer surplus, therefore, the law should be applied to prevent it. The presumed market dominance’ provisions (Section 4 of the Fair Trade Act) were introduced through the 1999 revision ofthe Fair Trade Act when the prior designation of market-dominant firm system was found to cause a waste of time and administrative resources. The market-dominant firm in Item 1 of Section 4 means a monopolistic firm or dominant firm, and those in Item 2 of Section 4 means a stable oligopolistic firm. Both presumption requirements are ascertained in terms of mere market share. Some commentators insist on the lowering of the threshold for presumption of dominance because the existing requirement is too high to catch any stout market-dominant firms. Besides that, it is problematic for the Korean Fair Trade Commission ("KFTC”)to rely totally on the presumption clause without building the existence of market power in the hands of the firms accused. The concept or collective dominance* under Article 82 of the EU Treaty was first addressed in the Flat Glass Case by the European Commission. Nowadays the collective dominance doctrine seems to be in EU competition law. In 2001 KFTC found that 15 credit card companies occupied a collective market-dominant position, however, the Supreme Court overruled KFTC’s decision. From my point of view, the collective market-dominant position may be established under Item 7 of Section 2 and Item 2 of Section 4 in the Fair Trade Act. In Chapter HI, the Dupont case, the Alcoa case, and the recent Microsoft case were reviewed in light of denning relevant market. In chapter IV, US case law regarding refusal to deal, predatory pricing was examined to study the types of abusive conduct by market-dominant firms. Lastly, as a conclusion, in Chapter V, I suggested legislative measures to improve the legislation on remedies.

Ergonomics Approach for Intervening Occupational Therapy in accordance with the Cerebral Dominance

Hwa Shik Jung 대한인간공학회 2011 대한인간공학회 학술대회논문집 Vol.2011 No.10

Objective: This paper presents the statistical results of cerebral hemisphere laterality to analyze the types of hand, foot, eye and ear dominance and recommend the appropriate devices and facilities when using them in accordance with their dominant body parts. Background: It is known that the human brain is divided into left and right domains and functions accordingly. Studies report that human hands, feet, eyes and ears differ in size between left and right ones and one is preferred or used more often over the other. Therefore, the two symmetrical body parts may look the same but their roles seem to be different. Methods: In this study, 400 Korean male and female subjects aging from 5 to 79 were selected to investigate the various statistics about hands, feet, eyes and ears dominance and their employment characteristics of preferred side in using them. Results: The descriptive statistics showed that 78.5%, 80.0%, 51.8% and 59.8% were right hand, foot, eye and ear dominant respectively. Moreover, various statistical analysis revealed that general tendency of each dominant part was somewhat varied by age, gender and hand dominance. There were strong tendency that right-handed people use more right body parts and vise versa when take action. Conclusion & Application: It was thus found people prefer using their dominant parts differently depending on the hand and foot dominance when they handle things, hence this should be considered in designing various display and control devices.

시장지배적 지위의 남용

김두진(Doo-Jin Kim) 한국비교사법학회 2007 比較私法 Vol.14 No.1

  The provision that bans the abuse of a market-dominant position [Section 3-2 in the Monopoly Regulation and Fair Trade Act (hereinafter, “Fair Trade Act”)] should be applied effectively so as to keep market competition buoyant, resulting in the efficient allocation of resources and enlargement of consumer welfare in the national economy. Since a monopolistic or oligopolistic situation in some individual markets would decrease consumer surplus, therefore, the law should be applied to prevent it.<BR>  The ‘presumed market dominance’ provisions (Section 4 of the Fair Trade Act) were introduced through the 1999 revision ofthe Fair Trade Act when the prior designation of market-dominant firm system was found to cause a waste of time and administrative resources. The market-dominant firm in Item 1 of Section 4 means a monopolistic firm or dominant firm, and those in Item 2 of Section 4 means a stable oligopolistic firm. Both presumption requirements are ascertained in terms of mere market share. Some commentators insist on the lowering of the threshold for presumption of dominance because the existing requirement is too high to catch any stout market-dominant firms.<BR>  Besides that, it is problematic for the Korean Fair Trade Commission (“KFTC") to rely totally on the presumption clause without building the existence of market power in the hands of the firms accused.<BR> The concept of ‘collective dominance’ under Article 82 of the EU Treaty was first addressed in the Flat Glass Case by the European Commission. Nowadays the collective dominance doctrine seems to be in EU competition law.<BR>  In 2001 KFTC found that 15 credit card companies occupied a collective market-dominant position, however, the Supreme Court overruled KFTC‘s decision. From my point of view, the collective market-dominant position may be established under Item 7 of Section 2 and Item 2 of Section 4 in the Fair Trade Act.<BR>  In Chapter Ⅲ, the Dupont case, the Alcoa case, and the recent Microsoft case were reviewed in light of defining relevant market.<BR>  In Chapter Ⅳ, US case law regarding refusal to deal, predatory pricing was examined to study the types of abusive conduct by market-dominant firms.<BR>  Lastly, as a conclusion, in Chapter Ⅴ, I suggested legislative measures to improve the legislation on remedies.