회계이익변경에 대한 단순투자자의 반응

김지홍 ( Jee Hong Kim ),장진호 ( Jin Ho Chang ),여은정 ( Eun Jung Yeo ) 한국회계학회 2004 會計學硏究 Vol.29 No.3

본 연구는 1998년 초부터 2003년 6월말까지 증권거래소의 전자공시시스템에 회계변경을 공시한 상장기업을 표본으로 하여, 단순투자자의 비율이 높은 기업에서의 회계이익변경에 대한 주가반응을 살펴보았다. 연구 결과, 단순투자자(naive investor)의 대용치로 사용된 개인소액투자자의 지분이 높은 기업에서 회계변경으로 인한 보고이익의 증가가 높을수록 양(+)의 주가반응이 존재함을 발견하였다. 이 결과는 실증회계이론에서 제시한 보고이익의 증가가 계약비용을 감소시키는 효과를 통제한 후에도 유의하였다. 반면, 전문투자자(sophisticated investor)의 대용치로 사용된 기관투자자 및 외국인투자자의 지분이 높은 기업에서는 회계변경으로 인한 이익증가에 유의적인 시장반응이 관찰되지 않았다. 본 연구의 결과는 한계투자자의 전문성에 따라 회계정보에 대한 주가반응이 상이할 수 있다는 확장된 기능적 고착가설(extended functional fixation hypothesis)을 지지하는 결과이다. This study empirically examines whether there is price reaction of the accounting changing companies which have high rate of unsophisticated investors` holdings. That is, this study will analyze whether there is different response to reported earnings changes by accounting change between unsophisticated and sophisticated investors. Most significantly, this study observes the cumulative abnormal returns on the time of disclosing to the accounting change. The final sample consists of 96 listed on the Korean Stock Exchange and disclosed by an Electronic Disclosure System over the period of 1998 to June, 2003. The results of this study are summarized as follows. First, there is positive relation between price reaction of individual investors proxied by naive investors and the reported earnings by accounting changes. This means that unsophisticated investors react naively on the increase of earnings by accounting changes. Second, there is no positive relation between the price reaction of institutional or foreign investors proxied by sophisticated investors and the increasing earnings by accounting changes. This means that sophisticated investors don`t react naively in the increase of earnings by accounting changes. These results supports the extended functional fixation hypothesis that price reactions of the accounting information can be varied according to the marginal investor`s expertise.

Study on the Fire Hazard and Risk Analysis Derived from the Plant Configuration Change During the Shutdown Period at Nuclear Power Plants

Jee Moon-Hak,Hong Sung-Yull,Sung Chang-Kyung,Jung Hyun-Jong Korean Nuclear Society 2003 Nuclear Engineering and Technology Vol.35 No.6

Fire hazard and risk analysis at Nuclear Power Plants is implemented on the basis of the normal operational configuration. This steady configuration, however, can be changed due to the temporary displacement of equipment, electric cable and irregular movement of workers through the fire compartments when the on-line maintenance is processed during the power operation mode or the scheduled outage mode for the refueling. With the consequence of this configuration change, the fire analysis condition and the evaluation result will be different from those that were analyzed based on the steady configuration. In this context, at this paper, the general items for the reassessment are categorized when the configuration has changed. The contemporary zone models for the detail fire analysis are also illustrated for their application for each classified condition.

연간이익 공시 시점별 시장반응

김지홍 ( Jee Hong Kim ),장진호 ( Jin Ho Chang ),여은정 ( Eun Jung Yeo ) 한국회계학회 2006 會計學硏究 Vol.31 No.2

본 연구는 우리나라 거래소에 상장되어 있는 12월 결산 제조업에 해당하는 기업을 연구대상으로 하여 2000년부터 2003년까지 연간이익 공시시점별 이익정보에 대한 시장반응을 조사함으로써 이익정보 공시일에 대한 정확한 시점을 파악하고자 한다. 이에 이익변동공시일, 주주총회소집통지공시일, 주주총회7일전을 각각의 이익공시시점으로 보고 시장반응을 검증하였다. 연구 결과, 첫째, 이익공시시점별 회귀분석에서는 이익변동공시일에서만 이익정보에 대한 유의적인 주가반응이 나타났다. 둘째, 각 이익공시시점마다 최초공시와 반복공시의 경우를 구분하여 회귀분석한 결과 이익변동공시일과 주주총회소집통지공시일의 최초공시 시점에서 유의적인 주가반응이 나타났으며, 반복공시 시점에서는 주가반응이 모두 유의적이지 않음을 발견하였다. This study examines the accurate disclosure timing of annual earnings. In the United States, the date of earnings disclosure is databased in COMPUSTAT, so most related research is approached with an understanding of this cycle. But Korean researchers have recognized the limitation of their research designs due to paucity of information regarding the accuracy of disclosure timing of annual earnings. Recently, the corporate disclosure environment has gone through tremendous change. First, the DART system was fully implemented. Second, rapid change in earnings compared with the previous fiscal year`s earnings is has been disclosed via the on-line DART system since 2000. Third, with the adoption of Regulation Fair Disclosure (Reg FD) in 2002, the timing of earnings disclosure post-FD is earlier than pre-FD, and the number of earnings releases has increased. The theme of this study is appropriate under these circumstances. Using a sample of 684 Korean firm-year observations that disclose earnings information for the years 2000-2003, this paper empirically examines the accurate disclosure timing of annual earnings. The results of this study are summarized as follows. First, there is no market reaction during the period of rapid change of earnings` disclosures. Second, there is a significant market reaction during the period of rapid change of earnings disclosures and the notice of shareholders` conferences if only the earnings` disclosure is disclosed before the conference. This is not the case if the disclosure is made repeatedly.

Characterization of changes in global gene expression in the brain of neuron-specific enolase/human Tau23 transgenic mice in response to overexpression of Tau protein.

Woo, Jong-Min,Park, So Jung,Kang, Ho Il,Kim, Byoung Guk,Shim, Sun Bo,Jee, Seung Wan,Lee, Su Hae,Sin, Ji Soon,Bae, Chang Joon,Jang, Mee Kyung,Cho, Chunghee,Hwang, Dae Youn,Kim, Chuel Kyu D.A. Spandidos 2010 INTERNATIONAL JOURNAL OF MOLECULAR MEDICINE Vol.25 No.5

<P>Tau is a neuronal phosphoprotein responsible for the formation of the neurofibrillary tangles in Alzheimer's disease. To characterize the changes in global gene expression in the brain of transgenic mice that overexpress human Tau23 protein in response to the increase of Tau23 phosphorylation, total RNA extracted from the hippocampus of 12-month-old transgenic and wild-type mice was converted to cDNA, labeled with biotin and hybridized to oligonucleotide microarrays. The microarray results were confirmed by real-time RT-PCR and Western blotting method. It was determined that 43 genes were up-regulated and 8 genes were down-regulated by Tau23 in transgenic mice compared to controls, based on the arbitrary difference in the 2-fold change. Among the up-regulated transcripts, those encoding for transporter and oxidoreductase were dramatically over-represented, followed by those related to regulatory molecule, cytoskeletal protein, signaling molecule, and extracellular matrix protein. Genes encoding for transcription factor, regulatory molecule, miscellaneous function, and chaperone were significantly reduced in the down-regulated group. The major genes in the up-regulated categories included Ecrg4, Folr1, Defb11, Aqp1 and Soctdc1. The major genes in the down-regulated categories were Ncor1, Gpm6a, and Hspd1. These results indicate that the microarray analysis identifies several gene functional groups and individual genes that respond to a sustained increase in Tau23 phosphorylation levels in the brain of transgenic mice. In addition, the results suggest the microarray test is a useful tool for increased understanding of the role of Tau23 protein in regulating neurodegenerative disorders.</P>

Overlapping and unique toxic effects of three alternative antifouling biocides (Diuron, Irgarol 1051^®, Sea-Nine 211^®) on non-target marine fish

Moon, Young-Sun,Kim, Moonkoo,Hong, Chang Pyo,Kang, Jung-Hoon,Jung, Jee-Hyun Elsevier 2019 Ecotoxicology and environmental safety Vol.180 No.-

<P><B>Abstract</B></P> <P>The use of alternative biocides has increased due to their economic and ecological relevance. Although data regarding the toxicity of commercial alternative biocides in marine organisms are accumulating, little is known about their toxic pathways or mechanisms. To compare the toxic effects of commercial alternative biocides on non-target pelagic fish (flounder) embryos, we investigated the adverse effects of developmental malformation and transcriptional changes. Three biocides including Diuron, Irgarol 1051<SUP>®</SUP> and Sea-Nine 211<SUP>®</SUP> produced a largely overlapping suite of developmental malformations, including tail-fin fold defects and dorsal body axis curvature. In our test, the potencies of these biocides were ranked in the following order with respect to malformation and mortalities: Sea-Nine 211<SUP>®</SUP> > Irgarol 1051<SUP>®</SUP> > Diuron. Consistent with the toxicity rankings, the expression of genes related to heart formation was greater in embryonic flounder exposed to Sea-Nine 211<SUP>®</SUP> than in those exposed to Irgarol 1051<SUP>®</SUP> or Diuron, while expression of genes related to fin malformation was greater in the Irgarol 1051<SUP>®</SUP> exposure group. In analyses of differential gene expression (DEG) profiles (fold change of genes with a cutoff <I>P < 0.05</I>) by high-throughput sequencing (RNA-seq), genes associated with nervous system development, transmembrane transport activity, and muscle cell development were significantly changed commonly. Embryos exposed to Diuron showed changes related to cellular protein localization, whereas genes associated with immune system processes were up-regulated significantly in embryos exposed to Irgarol 1051<SUP>®</SUP>. Genes related to actin filament organization and embryonic morphogenesis were up-regulated in embryos exposed to Sea-Nine 211<SUP>®</SUP>. Overall, our study provides a better understanding of the overlapping and unique developmental toxic effects of three commercial booster biocides through transcriptomic analyses in a non-target species, embryonic flounder.</P> <P><B>Highlights</B></P> <P> <UL> <LI> Developmental defects of the most commercially used booster biocides were investigated on non-target marine species. </LI> <LI> Sea-Nine 211® was most developmental toxic biocides among three biocides regarding malformation and mortalities analysis. </LI> <LI> Three biocides were produced common toxic effects associated with nervous system development. </LI> <LI> Genes related to immune system processes were variated in embryos exposed to Irgarol 1051<SUP>®</SUP>. </LI> <LI> Genes related to embryonic morphogenesis were up-regulated in embryos exposed to Sea-Nine 211. </LI> </UL> </P> <P><B>Graphical abstract</B></P> <P>[DISPLAY OMISSION]</P>

생약제제인 이공산(異功散)의 Cisplatin 유도 신장독성 보호 및 항산화 효과

Lee, Kyung-Tae,Ahn, Kyoo-Seok,Chang, Sung-Goo,Oh, Soo-Myung,Jung, Jee-Chang 경희대학교 동서의학연구소 1999 INTERNATIONAL SYMPOSIUM ON EAST-WEST MEDICINE Vol.1999 No.1

Kyung-Tae Lee, Kyoo-Seok Ahn¹, Sung-Goo Chang², Soo-Myung Oh²and Jee-Chang Jung²¹College of Pharmacy, ²Oriental Medicine and ³College of Medicine, and East-West Medical Reserch Institute, Kyung Hee University, Seoul, Korea. Preventive and Antioxidative Effects of Crude Drug Preparation(E-kong-san) on Cisplatin Induced Nephrotoxicity. Proceedings of International Symposium on East-West Medicine, Seoul. 201-211, 1999. -Nephroprotective effects of a crude drug-prearation (E-kong-san) were determined from cisplatin on rabbit kidney proximal tubule and human renal cortical cells by MTT assays and sustained glucose consumption on ciplatin-induced human renal cortical tissue. Levels of creatinine and blood ure nitrogen(BUN) in serum after administration of cisplatin(0.75mg/kg,i.p.) to E-kong-san(0.75g/kg/day,p.o.)-pretreated rats were markedly lower compared to those of cisplatin-treated rats. Moreover, the administration of E-kong-san significantly inhibited the loss of body weight of cisplatin injected rts. These findings suggest that E-kong-san on the cisplatin induced nephrotoxicity led us to investigate whether the effect of this water extract was a result of anti-oxidation. E-kong-san showed strong free radical scavenger activities on 1,1-dipheny1-2picrylhydrazil(DPPH) radical and xanthine/xanthine oxidase(XOD) generated superoxide anion radical(O2-). We further studied the effects of E-kong-san on lipid peroxidation in rat liver microsomes induced by enzymatic and nonenzymatic methods. E-kong-san exhibited significant inhibition on both ascorbic acid/Fe2+and ADP/NADPH/Fe3+ induced lipid peroxidation in rat liver microsomes. Based on these results, we suggest that-E-kong-san attenuate the cisplatin induced cytotoxicity and its mechanism can be eplained by antioxidant.

속박 (束縛) 과 침수 (浸水) 로 유도된 흰쥐의 스트레스성 급성 (急性) 위점막병변 (胃粘膜病變) 발생에 있어서 위산분비의 (胃酸分泌) 역할

민영일(Young Il Min),박충기(Choong Kee Park),장린(Rin Chang),김병호(Byung Ho Kim),장영운(Young Woon Chang),이정일(Jung Il Lee),박승준(Seung Joon Park),정주호(Joo Ho chung),정지창(Jee Chang Jung) 대한소화기학회 1989 대한소화기학회지 Vol.21 No.1

N/A The possible roles of gastric acid secretion in the pathogenesis of stress ulcers induced by restraint with water-immersion for 7 hours in pylorus-ligated rats were investigated. Control rats with pylorus-ligation only did not show any gastric mucosa} lesion, and their mean gastric acid output was 449.2 ± 36.1 umol/rat. In contrast, the stressed rats, group II, showed multiple, punctate and hemorrhagic erosions in gastric mucosa, and mean gastric acid output was decreased to the level of 253.7 ± 27.3 umol/rat. Subcutaneous administration of histamine(40 mg/kg every 2.5 h for a total three times) to stressed rats augmented the lesion with severe multiple, linear and hemorrhagic erosions and mean acid output increased significantly (328.1 ± 31.5 umol/, p<0.005) compared with group II. Pretreatment with rantidine(20 mg/kg) or prostaglandin E2 (30 ug/kg) before exposure to stress reduced gastric lesion formation slightly with no significance. In ranitidine pretreated rats, mean gastric acid output was decreased significantly (120.1 ± 15.3 umol/rat, p<0.005) compared with group II. However, in prostaglandin pretreated rats, mean gastric acid output showed no significant changes. Therefore, it is suggested that increased gastric acid secretion seems to be an aggravating or a permissive factor rather than a major factor in the pathogenesis of stress-induced gastric mucosal lesions.

Overexpression of Insulin Degrading Enzyme could Greatly Contribute to Insulin Down-regulation Induced by Short-Term Swimming Exercise

Min Sun Kim,Jun Seo Goo,Ji Eun Kim,So Hee Nam,Sun Il Choi,Hye Ryun Lee,In Sik Hwang,Sun Bo Shim,Seung Wan Jee,Su Hae Lee,Chang Joon Bae,Jung Sik Cho,Jun Yong Cho,Dae Youn Hwang 한국실험동물학회 2011 Laboratory Animal Research Vol.27 No.1

Exercise training is highly correlated with the reduced glucose-stimulated insulin secretion (GSIS), although it enhanced insulin sensitivity, glucose uptake and glucose transporter expression to reduce severity of diabetic symptoms. This study investigated the impact of short-term swimming exercise on insulin regulation in the Goto-Kakizaki (GK) rat as a non-obese model of non-insulin-dependent diabetes mellitus. Wistar (W/S) and GK rats were trained 2 hours daily with the swimming exercise for 4 weeks, and then the changes in the metabolism of insulin and glucose were assessed. Body weight was markedly decreased in the exercised GK rats compare to their non-exercised counterpart, while W/S rats did not show any exercise-related changes. Glucose concentration was not changed by exercise, although impaired glucose tolerance was improved in GK rats 120 min after glucose injection. However, insulin concentration was decreased by swimming exercise as in the decrease of GSIS after running exercise. To identify the other cause for exercise-induced insulin down-regulation, the changes in the levels of key factors involved in insulin production (C-peptide) and clearance (insulin-degrading enzyme; IDE) were measured in W/S and GK rats. The C-peptide level was maintained while IDE expression increased markedly. Therefore, these results showed that insulin down-regulation induced by short-term swimming exercise likely attributes to enhanced insulin clearance via IDE over-expression than by altered insulin production.

Silymarin이 ethionine 中毒家兎의 肝代謝機能에 미치는 影響

鄭址昌 慶熙大學校 1980 論文集 Vol.10 No.-

The silymarin is antihepatotoxic component isolated from the fruit of Silybum marianum (L.) Gaertn. (Carduus marianus L.). This substance is comprised mainly of three isomers; silybin, silydianin and silychristin. This studies were undertaken in an attempt to investigate the effects of silymarin on protein and lipid metabolism, and activities of liver sepecific enzymes (GPT, GOT and alkaline phosphatase) in serum of ethionine intoxicated rabbits. The experimental animals were divided into two groups and treated as follow: The 1st group was administered ethionine (100㎎/㎏/day, s.c.)alone for 3 days; the 2nd group was administered ethionine and silymarin (100㎎/㎏/day, s.c.) simultaneously for 3 days, and then silymarin was alone administered for 9 days. The following results were obtained: Serum total protein of ethionine alone administered rabbits were increased temporarily after 3 days, and then were reduced after 6th day. Both the total cholesterol and triglyceride in serum were decreased markedly for 3 days after the administration of ethionine. and then were increased significantly after 12 days. 3) The group, administered ethionine alone, showed markedly increase of the transaminase (GPT, GOT) and alkaline phosphatase activities. 4) In the group which were administered ethionine and silymarin simultaneously, the serum total protein content showed no changes. 5) The silymarin showed significant inhibition of the increasing Lipid by the administration of ethionine, and the lipid contents were returned to the control level after 12days. 6) Elevatory action on activities of liver specific enzymes of ethionine were inhibited significantly by the administration of silymarin for 12 days. 7) It is concluded that the antihepatotoxic effects of silymarin against the ethionine seems to accelerate protein and lipid metabolism, inhibit lipid deposition, and reduce liver specific enzyme activities.

거대 신생아의 혈당치와 철함유량의 관계에 관한 연구

정지희,김창휘 순천향의학연구소 1995 Journal of Soonchunhyang Medical Science Vol.1 No.2

Infants of large for gestational age have a higher incidence of birth injury. neonatal hypoxia and congenital anomalies. Also they likely to have a hypoglycemia due to hyperinsulinemia, and changes in serum ferritin and transferrin levels. We investigated the relationship between hemoglobin, hematocrit, serum iron, ferritin, transferrin and insulin levels according to blood glucose level in 61 large(11 cases of hypoglycemic and 50 cases of normoglycemic) and 21 appropriate for ges-ational age infants. The results are as follows: 1. The incidence of large for gestational age(LGA) infant was 12%(70 among 584) and the incidence of LGA from gestational diabetic mother was 16.4%(10 among 61). 2. The mean birth weights were 4.1 kg in hypoglycemic LGA, 4.2 kg in normoglyce-mic LGa and 3.4 Kg in normoglycemic appropriate for gestational age(AGA) infants. 3. The mean hemoglobin levels were 16.1±1.2 g/dl in hypoglycemic LGA, 15.2±1.3 g/dl in normoglycemic LAG and 15.1±1.7 g/dl in normoglycemic AGA infants. The mean hematocrit levels were 53.3±5.2% in hypoglycemic LGA, 49.4±4.6% in normoglycemic LGA and 49.5±6.3% in normoglycemic AGA. 4. Serum iron and ferritin levels were significantly lower in hypoglycemic LGA(60.4±34.3 g/dl , 73.1±22.8 ng/ml, respectively) than normoglycemci LGA(99.8±59.1 ug/dl, 158.1±84.0 ng/ml, respectively) and AGA(108.0±51.9㎍/dl, 144.3±99.6 ng/ml, respe-ctively) infants(p<0.05). The serum transferin levels were significantly increased in LGA than AGA(203.5±20.8 mg/dl) infants(p<0.05), but there was no significant differences between hypoglycemic(262.4±28.2 mg/dl and normoglycemic(241.0±36.1 mg/dl) LGA infants. 5. Serum insulin levels were significantly higher in LGA(6.8±2.8 μU/ml for hypoglycemic and 5.8 ± 4.3 μU/ml for normoglycemic) than AGA(0.1μU/ml) infants(p<0.05).