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A Unified Model : Arbitrage-free Term Structure Movements of Flow Risks
Thomas S. Y. Ho,Sang Bin Lee 한국재무학회 2012 한국재무학회 학술대회 Vol.2012 No.09
This paper first dichotomizes risk drivers into “stock” or “flow” attributes. Stock risk drivers are prices of tradable securities and flow risk drivers are rates represented by the stochastic movements of a term structure of securities. This paper then shows that the Black Scholes model is the relative valuation model for the stock risk drivers while the proposed unified model is for the flow risk drivers. The unified model can be described in the Ho-Lee model framework. We apply this model to five different flow risk drivers: interest rate, credit risk, liquidity risk, energy risk, and inflation risk. We then show that the unified model provides an analytical framework for securities that are subjected to several of these flow risk drivers, offering many applications. For example, the 2008 financial crisis clearly shows the importance of the use of a unified model in enterprise risk management. The crisis demonstrates that risk management should not take a silo approach to manage each flow risk driver, such as interest rate risk and credit risk. We propose an integrated approach to manage risks using the unified model.
The Effect of Stocking Density on the Behaviour of Broiler Chickens
Thomas, David G.,Son, Jang-Ho,Ravindran, Velmurugu,Thomas, Donald V. The Korean Society of Poultry Science 2011 韓國家禽學會誌 Vol.38 No.1
A 35-day trial was conducted to examine the influence of floor density on the behaviour of broiler chickens. Day-old male broilers (n=756) were randomly assigned to one of four stocking densities (6 replicates of n=13, 25, 38 and 50) in 24 identical 2.6 $m^2$ pens. These stocking densities were coded very low (VL), low (L), medium (M) and high (H) and contained a floor space allowance per bird of 2,000 $cm^2$, 1,000 $cm^2$, 667 $cm^2$ and 500 $cm^2$, respectively. Scan sampling of all groups was carried out at 15-min intervals during two 1-h periods (10.00 h~11.00 h and 14.00 h~15.00 h) for five days each week. The numbers of birds engaged in different behavioural activities were recorded. It was found that the most common behaviour in all densities was lying. There was no clear effect of density during wks 1~4 of the trial, but in wk 5 birds in the L, M and H groups showed lower levels (P=0.07) of lying behaviour when compared to birds in the VL group suggesting that an increase in animal density results in decreased opportunities for undisturbed rest. This observation is supported by standing and walking behaviour, which was lower (P<0.05) in the VL group in wk 5. Foraging behaviour measured in the study by the numbers of birds pecking the ground declined as the trial progressed, but scratching increased in 2 wk then decreased. Birds in the VL group showed higher (P<0.05) level of pecking the ground behaviour compared to birds in the L, M and H groups, but scratching behaviour higher (P<0.05) and lower (P<0.05) in VL of 1 wk and 2 wk respectively. However, a peak in aggressive behaviour was observed in wk 2 and birds in the VL group showed less (P<0.05) agonistic behaviour than birds in the H and M groups. Other behaviours (dustbathing, preening, eating or drinking) were not influenced (P>0.05) by stocking density.
Structural Study of the RIPoptosome Core Reveals a Helical Assembly for Kinase Recruitment
Jang, Tae-ho,Zheng, Chao,Li, Jixi,Richards, Claire,Hsiao, Yu-Shan,Walz, Thomas,Wu, Hao,Park, Hyun Ho American Chemical Society 2014 Biochemistry Vol.53 No.33
<P/><P>Receptor interaction protein kinase 1 (RIP1) is a molecular cell-fate switch. RIP1, together with Fas-associated protein with death domain (FADD) and caspase-8, forms the RIPoptosome that activates apoptosis. RIP1 also associates with RIP3 to form the necrosome that triggers necroptosis. The RIPoptosome assembles through interactions between the death domains (DDs) of RIP1 and FADD and between death effector domains (DEDs) of FADD and caspase-8. In this study, we analyzed the overall structure of the RIP1 DD/FADD DD complex, the core of the RIPoptosome, by negative-stain electron microscopy and modeling. The results show that RIP1 DD and FADD DD form a stable complex <I>in vitro</I> similar to the previously described Fas DD/FADD DD complex, suggesting that the RIPoptosome and the Fas death-inducing signaling complex share a common assembly mechanism. Both complexes adopt a helical conformation that requires type I, II, and III interactions between the death domains.</P>
Choi, Ji Ho,Thomas, Robert J,Suh, Soo Yeon,Park, Il Ho,Kim, Tae Hoon,Lee, Sang Hag,Lee, Heung Man,Yun, Chang-Ho,Lee, Seung Hoon Triological Foundation [etc.] 2015 The Laryngoscope Vol.125 No.7
<P>To test the effect of upper airway surgery on sleep quality in adults with obstructive sleep apnea (OSA) and the potential usefulness of electrocardiogram (ECG)-based cardiopulmonary coupling (CPC) analysis as metrics of sleep quality.</P>
The Effect of Stocking Density on the Behaviour of Broiler Chickens
David G. Thomas,Jang Ho Son,Velmurugu Ravindran,Donald V. Thomas 韓國家禽學會 2011 韓國家禽學會誌 Vol.38 No.1
A 35-day trial was conducted to examine the influence of floor density on the behaviour of broiler chickens. Day-old male broilers (n=756) were randomly assigned to one of four stocking densities (6 replicates of n=13, 25, 38 and 50) in 24 identical 2.6 ㎡ pens. These stocking densities were coded very low (VL), low (L), medium (M) and high (H) and contained a floor space allowance per bird of 2,000 ㎠, 1,000 ㎠, 667 ㎠ and 500 ㎠, respectively. Scan sampling of all groups was carried out at 15-min intervals during two 1-h periods (10.00 h~11.00 h and 14.00 h~15.00 h) for five days each week. The numbers of birds engaged in different behavioural activities were recorded. It was found that the most common behaviour in all densities was lying. There was no clear effect of density during wks 1~4 of the trial, but in wk 5 birds in the L, M and H groups showed lower levels (P=0.07) of lying behaviour when compared to birds in the VL group suggesting that an increase in animal density results in decreased opportunities for undisturbed rest. This observation is supported by standing and walking behaviour, which was lower (P<0.05) in the VL group in wk 5. Foraging behaviour measured in the study by the numbers of birds pecking the ground declined as the trial progressed, but scratching increased in 2 wk then decreased. Birds in the VL group showed higher (P<0.05) level of pecking the ground behaviour compared to birds in the L, M and H groups, but scratching behaviour higher (P<0.05) and lower (P<0.05) in VL of 1 wk and 2 wk respectively. However, a peak in aggressive behaviour was observed in wk 2 and birds in the VL group showed less (P<0.05) agonistic behaviour than birds in the H and M groups. Other behaviours (dustbathing, preening, eating or drinking) were not influenced (P>0.05) by stocking density.
Measuring sleep quality after adenotonsillectomy in pediatric sleep apnea.
Lee, Seung Hoon,Choi, Ji Ho,Park, Il Ho,Lee, Sang Hag,Kim, Tae Hoon,Lee, Heung Man,Park, Hee-Kwon,Thomas, Robert J,Shin, Chol,Yun, Chang-Ho Triological Foundation [etc.] 2012 The Laryngoscope Vol.122 No.9
<P>The aim of this study was to demonstrate postoperative changes in sleep quality in children with obstructive sleep apnea (OSA), using both conventional sleep staging and electrocardiogram-based cardiopulmonary coupling (CPC) analysis. The hypothesis is that being electroencephalography (EEG)-independent, CPC may detect changes in sleep quality that traditional sleep architecture analysis cannot.</P>
Thomas W. Molitor,Jin-Ho Shin 대한수의학회 2002 Journal of Veterinary Science Vol.3 No.2
Porcine reproductive and respiratory syndromevirus (PRRSV) RNA load in sera and tissues duringacute phase of infection was evaluated using a PCR-based quantitative assay. More than 80% of infectedpigs (21/25) showed the peak level of viral RNAconcentrations in serum (up to 8.6 × 108copies/ml) atday 5 postinfection (PI),and started to clear the virusfrom the systemic circulation thereafter. Regressionanalysis using the viral RNA concentrations in seraobtained from days 5 to 14 PI showed that the viralRNA was cleared at the rate of 0.37 log reduction inthe number of PRRSV RNA copies per day. It wasestimated to be day 27 PI when the viral RNA in theserum of infected pigs becomes undetectable. Whencorrelation analysis was performed between thesystemic clearance rate and viral RNA concen-trations in tissues of 9 infected pigs obtained at day14 PI, moderately strong negative correlation wasobserved in the thymus (r = - 0.62) and brain stem (r= - 0.48), suggesting the capability of host animal toclear PRRSV from the systemic circulation appears tobe related to the viral activity in the thymus andbrain stem.