Estimation of the Asymmetric ACD-PIN Model: The Case of Taiwan Stock Exchange

Teng Tsai Tu,Duong Truc Phuong 한국유통과학회 2017 KODISA ICBE (International Conference on Business Vol.2017 No.-

This paper measure the asymmetric ACD probability of information trading (AACD PIN) under the case of Taiwan Stock Exchange (TWSE) market. Our microstructure data is obtained from TWSE and we calculate the asymmetric ACD probability of information trading for high-frequency transaction individual stocks. By using an extension of Tay et al. (2009)’s methodology, which based on an AACD model of the expected duration of buy- and sell-orders, we measure AACD PIN for selected stocks in Conventional, Electronic and Financial Services industry selected from TWSE listed stocks. Our empirical results indicate that the weighted AACD PIN is smaller than that of the simple AACD PIN in each type of the industry. Next, the smaller the market capitalization of the firms, the larger the value of both simple and weighted AACD PIN. Our results also reveal that the performance of daily state probabilities for AACD-PIN model has the same fluctuation with liquidity and opposite trending with volatility for each industry.

Block Trading Based Volatility Forecasting: An Application of VACD-FIGARCH Model

TU, Teng-Tsai,LIAO, Chih-Wei Korea Distribution Science Association 2020 The Journal of Asian Finance, Economics and Busine Vol.7 No.4

The purpose of this study is to construct the ACD model for the block trading volume duration. The ACD model based on the block trading volume duration is referred to as Volume ACD (VACD) in this study. By integrating with GARCH-type models, the VACD based GARCH type models, which include VACD-GARCH, VACD-IGARCH and VACD-FIGARCH models, are set up. This study selects Chunghwa Telecom (CHT) Inc., offering the America Depository Receipt (ADR) in NYSE, to investigate the block trading volume duration in Taiwanese equity market. The empirical results indicate that the long memory in volume duration series increases dependence at level of volatility clustering by VACD (2,1)-FIGARCH (3,d,1) model. Moreover, the VACD (2,1)-IGARCH (1,1) exhibits relatively better performance of prediction on capturing block trading volume duration. This volatility model is more appropriate in this study to portray the change of the CHT Inc. prices and provides more information about the volatility process for investment strategy, which can be a reference indicator of financial asset pricing, hedging strategy and risk management.

Anti-Inflammatory Effects of Vitis thunbergii var. taiwaniana on Knee Damage Associated with Arthritis

Ching-Fent Tsai,Kun-Teng Wang,Lih-Geeng Chen,Chia-Jung Lee,Sung-Hui Tseng,Ching-Chiung Wang 한국식품영양과학회 2014 Journal of medicinal food Vol.17 No.4

Vitis thunbergii Sieb. et Zucc. var. taiwaniana Lu (VT) is an indigenous plant in Taiwan that is traditionally used for promoting joint health. In this study, we used in vitro primary human chondrocytes (PHCs) and two in vivo animal models to evaluate the anti-inflammatory effects of VT on arthritis. Results showed that the water extract of the stems and roots from VT (VT-SR) was rich in flavones and phenols with 1.1 mg/g of resveratrol, 6.7 mg/g of hopeaphenol, and 5.1 mg/g of (+)-e-viniferin. VT-SR significantly scavenged DPPH radicals and inhibited prostaglandin E2 (PGE2) production in lipopolysaccharide (LPS)-induced PHCs without exhibiting significant cytotoxicity. In in vivo models, the VT-SR (500 mg/kg) significantly decreased serum PGE2 and knee 2-18F-fluoro-2-deoxy-D-glucose (18F-FDG) levels in LPS-induced acute inflammatory arthritis in rabbits. In addition, dietary supplementation with VT-SR for 28 days significantly alleviated type II collagenase-induced rat osteoarthritis with improvements in weight bearing and range of motion tests. In conclusion, our results suggest that the VT-SR is a good candidate for developing dietary supplements to prevent joint deterioration and inhibit inflammation.

DESTINATION BRAND COOLNESS: CONCEPTUALIZATION AND SCALE DEVELOPMENT

Hsiu-Yu Teng,Cheng-Hsien Tsai,Chia-Wen Hung,Hui-Chen Hung 글로벌지식마케팅경영학회 2023 Global Marketing Conference Vol.2023 No.07

Destination branding has become an important trend in modern tourism. The development of destination brands has become a strategic tool worldwide because of the growing competition between destinations. In recent years, many tourist destinations have combined unique, creative, and attractive elements to transform themselves into “cool” tourist destinations. Destination brand coolness refers to tourists’ subjective and positive perception of tourist destinations and their beliefs that the destination brand offer distinctive, novel characteristics and attributes that the visitors are attracted to. Creating destination brand coolness can help tourist destinations differentiate themselves from their competitive counterparts, thereby attracting tourists. However, no study has conceptualized the construct of destination brand coolness, let alone developing scales that measure destination brand coolness.

The Effect of Abnormal Turnover on Asymmetric Autoregressive Behavior of Index Returns: Evidence from the Chinese A-share Stock Markets

Jung-Lieh Hsiao,Teng-Tsai Tu 한국증권학회 2012 Asia-Pacific Journal of Financial Studies Vol.41 No.5

This study tests the effect of turnover shocks on the asymmetric autoregressive behavior of index returns. The methodological approach adopted in this study is based on the relationship between market return and trading volume. This study first uses a vector autoregression (VAR) to model two market trading volume series by controlling for the variation associated with the sign and magnitude of both week t and week t ) 1 or week t + 1 market returns. The generated market-adjusted relative turnover (MRTO) series are then plugged into the bivariate asymmetric AR GARCH-t model (asAR-GARCH-t) using weekly data from the Shanghai and Shenzhen A-share stock markets. The results show that turnover shocks have a material effect on asymmetric autoregressive behavior and thus on asymmetric persistence of past returns.

A Study on the Development Strategy of the Taiwan Beauty SPA Industry

Hsin Fen Chien,Teng Tsai Tu,Chun Yu Chen 한국유통과학회 2017 KODISA ICBE (International Conference on Business Vol.2017 No.-

This study focuses on the future development strategy of Taiwan beauty SPA industry. The analysis is based on the PEST analysis of external environment, five forces analysis of internal industry, SWOT analysis of dealer K and in-depth interviews with senior executives of distributors. The results indicate that under the trend of the pursuit of health care, the products of the beauty industry are primarily healthy and environmentally friendly, naturally organic certificated, cosmetic beauty and natural non-toxic biotechnology products. In response to the advent of the era E, beauty SPA industry should make good use of digital platform marketing functions and establish beauty APP application software. At the same time, the beauty SPA industry can also use the e-commerce channel to carry out the business model of clicks and mortar to create greater economic benefits. The beauty SPA industry should integrate alliances with its peers to develop new customers and to innovate their revenue structure. Based on the results of this study, this research hopes to help the beauty SPA industry and individual companies to find the most suitable development strategies so as to enhance the competitiveness of the beauty SPA industry.

The development of Taiwan Fracture Liaison Service network

Lo-Yu Chang,Keh-Sung Tsai,Jen-Kuei Peng,Chung-Hwan Chen,Gau-Tyan Lin,Chin-Hsueh Lin,Shih-Te Tu,I-Chieh Mao,Yih-Lan Gau,Hsusan-Chih Liu,Chi-Chien Niu,Min-Hong Hsieh,Jui-Teng Chien,Wei-Chieh Hung,Rong-S 대한골다공증학회 2018 Osteoporosis and Sarcopenia Vol.4 No.2

Osteoporosis and its associated fragility fractures are becoming a severe burden in the healthcare system globally. In the Asian-Pacific (AP) region, the rapidly increasing in aging population is the main reason accounting for the burden. Moreover, the paucity of quality care for osteoporosis continues to be an ongoing challenge. The Fracture Liaison Service (FLS) is a program promoted by International Osteoporosis Foundation (IOF) with a goal to improve quality of postfracture care and prevention of secondary fractures. In this review article, we would like to introduce the Taiwan FLS network. The first 2 programs were initiated in 2014 at the National Taiwan University Hospital and its affiliated Bei-Hu branch. Since then, the Taiwan FLS program has continued to grow exponentially. Through FLS workshops promoted by the Taiwanese Osteoporosis Association (TOA), program mentors have been able to share their valuable knowledge and clinical experience in order to promote establishments of additional programs. With 22 FLS sites including 11 successfully accredited on the best practice map, Taiwan remains as one of the highest FLS coverage countries in the AP region, and was also granted the IOF Best Secondary Fracture Prevention Promotion award in 2017. Despite challenges faced by the TOA, we strive to promote more FLS sites in Taiwan with a main goal of ameliorating further health burden in managing osteoporotic patients.

Composite electrolyte pastes for preparing sub-module dye sensitized solar cells

Shanmuganathan Venkatesan,Yun-Yu Chen,Chung-Yu Chien,Ming-Hsiang Tsai,Hsisheng Teng,Yuh-Lang Lee 한국공업화학회 2022 Journal of Industrial and Engineering Chemistry Vol.107 No.-

In this study, high-efficiency sub-module quasi-solid-state (QS) dye-sensitized solar cells (DSSCs) are preparedusing silicon dioxide (SiO2) nanofiller and polyethylene oxide (PEO)-based iodide composite electrolytepastes. The influence of various amounts of nanofiller on the ionic conductivity, ion diffusioncoefficient, and the performance of the devices are explored. The addition of SiO2 decreases the ion transportproperties in the plain polymer electrolyte pastes. X-ray photoelectron spectroscopy analysis confirmsthe adsorption of polyiodide and lithium ions on the surface of the SiO2. This effect causes areduction in the concentration of ions near the photoelectrode. As a result, the QS-DSSCs using 1 wt.%SiO2 nanofillers have higher recombination resistance and a longer electron lifetime than the otherDSSCs. Therefore, high open-circuit voltage (0.794 V) and high efficiency (8.83%) are obtained for the correspondingQS-DSSCs. This efficiency is much better than the efficiencies of the devices employing thepristine polymer electrolyte paste and liquid electrolytes. This composite electrolyte paste is employedto prepare QS-sub-module cells. The four strip and rectangular-shaped module cells have high efficienciesof 4.71% and 4.81%, respectively. QS-DSSCs using 1 wt.% SiO2 nanofillers show high stability at bothroom temperature and 60 C.

A Case of a Taiwanese Patient with Cleidocranial Dysplasia Possessing a de Novo Mutation of RUNX2 Gene

Pen Hua Su,Jia Yuh Chen,Ju Shan Yu,Suh Jen Chen,Teng Fu Tsao,Shih Jei Tsai 한국유전학회 2008 Genes & Genomics Vol.30 No.4

Cleidocranial dysplasia (CCD, #119600) is a rare, autosomal dominant bone disease characterized by hypoplastic or aplastic clavicles, wide cranial sutures, supernumerary teeth, short stature, and other skeletal disorders. This disease gene has been mapped to chromosome 6p21 within a region containing CBFA1, a member of the runt family of transcription factors (RUNX2). We report one Taiwanese girl with CCD, with multiple wormian bones, persistent synchondrosis, supernumerary teeth, hypoplasia of clavicles, delayed ossification of pubic bone, and short stature. She also has partial fusion of the left 4th and 5th ribs, and posterior cerebral artery malformation. We performed sequence analysis of the RUNX2 gene, and detected a heterozygous C to G transition mutation at nucleotide 1115 in exon 7, leading to P372R mutation. This is an unreported missense mutation in exon 7 which effected the trausactivation domain of RUNX2.

A Group Decision Model for Selecting Facility Layout Alternatives

Shui-Shun Lin,Wen-Chih Chiou,Ron-Hua Lee,Chyung Perng,Jen-teng Tsai 대한산업공학회 2005 Industrial Engineeering & Management Systems Vol.4 No.1