Ferrokinetics in Patients on CAPD: Influence of CAPD on the Anemia of Uremia

Hi Bahl Lee,Seong Won Koh,Hee Sook Park 대한내과학회 1986 The Korean Journal of Internal Medicine Vol.1 No.1

수익비용대응과 회계정보에 대한 시장반응

노밝은 ( Bahl Geun Roh ),이세용 ( Se Yong Lee ) 한국회계학회 2012 회계학연구 Vol.37 No.3

The matching principle refers to the accounting process that the expenses should be recognized in the accounting period when the revenues are recognized. The matching principle has played a key role in accrual-based accounting for a long time in that the performance of a firm is measured by matching revenues to expenses that is used to get the revenues. However, since 1970s, the importance of matching principle has faded away as Financial Accounting Standard Board(FASB) changed the base of accounting process from Income Statement to Statement of Financial Position. In addition, International Financial Reporting Standards(IFRS) is getting a primary accounting standard in many countries. South Korea also adopted IFRS as its accounting standard recently and established Korea-adopted IFRS(K-IFRS). K-IFRS does not contain detailed accounting information in financial statements as it is principle- based accounting. As a result, matching principle is gradually losing its role in accounting process. In the circumstances of decrease in the importance of matching principle, this paper is to re-examine the importance of matching principle. Considering the change in the accounting reporting environment that is heading toward principle-based accounting driven by K-IFRS and ignoring the role of matching principle, the investigation on the relationship between matching level and usefulness of accounting information becomes a compelling topic. To put it concretely, this paper investigates how the matching level between revenues and expenses influences market reactions to accounting information as well as usefulness of accounting information. That is to say, this paper aims at verifying how the market reactions to revenues and expenses vary depending on matching levels. As the measure of matching level, adjusted R2 obtained from regressing current revenues on current expenses is used. The regression to get adjusted R2 is the modified version of Dichev and Tang(2008)`s model. Market reactions are measured as the coefficients in the regression of stock returns on surprises of revenues, expenses and earnings. Revenue surprises are calculated as actual revenues less analysts forecasts of revenues. Expenses and earnings surprises are calculated in the same way. As a result of analyzing the companies listed on Korean Securities Market from 1991 to 2009, the differential market reactions to revenues and expenses appear to be significantly large in the poor matching firms, while no significant difference is found in the good matching firms. The result implies that the matching level can be a cause of the differential market reactions between revenues and expenses. In addition, the result can be interpreted such that relatively more noise is included in the accounting information when matching level is low. This paper also examines the difference of the informativeness of accounting earnings between the good matching firms and the poor matching firms. The results show that the informativeness of accounting earnings is higher for the good matching firms relative to the poor matching firms. This result implies that the matching level can be the measurement of the earnings quality. It means that market participants consider the accounting earnings of the good matching firms more useful in their decision makings. Compared to prior studies, this paper has two distinctive implications as follows. First, prior studies have showed that investors value higher a dollar of revenue surprises than a dollar of expense surprises(Ertimur et al., 2003), but prior studies didn`t provide the reason why investors react more to revenue surprises than expense surprises. Focused on this point, this paper suggests that the matching level could be the reason of the differential market reactions between revenue and expense surprises. Second, previous studies showed that the mismatching between revenues and expenses decreases earnings persistence and increases earnings volatility in a time series framework(Dichev and Tang., 2008; Beak, 2011a). This paper analyzes directly whether investors evaluate the accounting earnings depending on the matching levels. According to the results of this paper, we make a suggestion that reporting guidelines with respect to matching revenues and expenses should be provided for higher usefulness of accounting information, particularly under the circumstances that principle-based accounting standards are applied under K-IFRS.

기업설명회와 주가표류현상

노밝은 ( Bahl Geun Roh ),이재홍 ( Jae Hong Lee ) 한국회계학회 2014 회계저널 Vol.23 No.4

The purpose of this paper is to examine the relationship between investor relations (hereafter, IR) and post-earnings announcement drift (hereafter, PEAD ), one of the most extraordinary phenomena in the capital market. PEAD may differ depending on the content of disclosure related to IR. The sample period examined in this study extends from 2001 to 2008. Differences were investigated between firms engaging in IR activity and those not engaging in IR activity in terms of PEAD. The results revealed that PEAD was greater for firms engaging in IR activity. In a second analysis, we limited the sample to those firms engaging in IR activity, and investigated the effects of disclosure versus non-disclosure. The results indicated that firms disclosing operating performance information through IR activity experienced less PEAD than those not doing so. While engaging in IR activity increases the amount of information available to potential investors, this information may simply confuse investors and exacerbate PEAD. However, if the information is related to management performance and accounting numbers are presented, understanding of the firm`s accounting earnings will increase and eventually, information asymmetry among investors will decrease, thus mitigating PEAD after the earnings announcement. In our empirical analysis of the effects of IR involvement, we classify the content of disclosure and examine the mitigating effects of voluntary disclosure on PEAD. The significance of voluntary disclosure is emphasized, and supporting evidence is provided for the findings of previous papers, which stated that PEAD is caused by market participants` lack of understanding of accounting information.

IR과 회계이익의 정보효과 -IR 세부내용 및 개최빈도를 고려하여-

노밝은(Bahl-Geun Roh) 글로벌경영학회 2012 글로벌경영학회지 Vol.9 No.1

The purpose of this study is to investigate the effect of investor relation(here after, IR) on the earnings informativeness. In this paper, I analyze the effect of holding IR on earnings informativeness by return-earnings model using 3,690 firm-year non-financial samples from 2000 to 2008. The results of this study indicate that a significant decrease earnings informativeness of the firms which held IR, in contrast to firms which did not. And the results is not changed even when using management performance disclosure. Overall, the case of firms which held IR, earnings information already spread in the capital markets because investors make decision prior to earnings disclosures IR source of information, Accounting earnings are relatively low value of information in itself. I expect that the results provide meaningful implications for the market participants who use IR information in making investment decisions.

Mechanisms of Epithelial-Mesenchymal Transition of Peritoneal Mesothelial Cells During Peritoneal Dialysis

Hi Bahl Lee,하헌주 대한의학회 2007 Journal of Korean medical science Vol.22 No.6

A growing body of evidence indicates that epithelial-mesenchymal transition (EMT) of human peritoneal mesothelial cells (HPMC) may play an important role in the development and progression of peritoneal fibrosis during long-term peritoneal dialysis (PD) leading to failure of peritoneal membrane function. Here, we review our own observations and those of others on the mechanisms of EMT of HPMC and suggest potential therapeutic strategies to prevent EMT and peritoneal fibrosis during long-term PD. We found that high glucose and H2O2 as well as transforming growth factor- 1 (TGF- 1) induced EMT in HPMC and that high glucoseinduced EMT was blocked not only by inhibition of TGF- 1 but also by antioxidants or inhibitors of mitogen-activated protein kinases (MAPK). Since MAPKs are downstream target molecules of reactive oxygen species (ROS), these data suggest that high glucose-induced generation of ROS and subsequent MAPK activation mediate high glucose-induced EMT in HPMC. We and others also observed that bone morphogenetic protein-7 (BMP-7) prevented EMT in HPMC. Glucose degradation products (GDP) were shown to play a role in inducing EMT. Involvement of a mammalian target of rapamycin (mTOR) in TGF- 1-induced EMT has also been proposed in cultured HPMC. A better understanding of the precise mechanisms involved in EMT of HPMC may provide new therapeutic strategies for inhibiting peritoneal fibrosis in long-term PD patients.

수익비용대응과 재무분석가의 이익예측정확성

노밝은 ( Bahl Geun Roh ) 한국회계학회 2013 회계저널 Vol.22 No.4

This study examines whether analysts` forecast accuracy varies depending on matching levels. The matching principle refers that the expenses recognition should be occurred while the revenue is recognized by matching two terms. The principal has cast the base of accrual bases accounting in that the profitability (revenues) of a firm properly matches to the efforts(expenses) that the firm makes by adjusting the recognition time of revenues and expenses. Recently adopted Korean International Financial Reporting Standards (here after, K-IFRS) does not provide detailed financial statement as they are principles-based accounting standards. Since a firm can make decisions upon the title of account as long as it is not imposed, even the same earnings can yield different prosperities depending on firms. The obtained by regressing current revenues on current expenses is based on Dichev and Tang (2008) is used as the proxy of matching. Analysts` forecast accuracy is calculated by subtracting actual earnings from earnings forecasts for each firm. Analysis of the Korea listed companies from 1991 to 2009 reveals that analysts` forecast accuracy decreases as the matching level decreases. As Dichev and Tang(2008) reported, the result implies the analysts encounter difficulties in performing earnings forecast because earning predictability drops when the matching does not properly incur. The results of this study provide empirical evidence that verifies that low matching levels can affect usefulness of accounting information negatively. Accordingly, a certain level of reporting guidelines with respect to the title of revenues and expenses need to be suggested, particularly for the moment when principles-based accounting standards are applied under K-IFRS. This study can provide significant implications that need to be addressed to achieve the purpose of accounting report at this time point when the new standards are applied due to the adoption of K-IFRS. Finally, developing a distinct proxy of matching level takings more valid and diverse approaches or comparison study between pre- and post- K-IFRS deserves further study.

Reactive oxygen species amplify protein Kinase C signaling in high glucose-induced fibronectin expression by human peritoneal mesothelial cells

Lee, Hi-Bahl,Yu, Mi-Ra,Song, Jae-Sook,Ha, Hun-Joo 이화여자대학교 약학연구소 2004 藥學硏究論文集 Vol.- No.14

Background, We previously demonstrated that high glucose up'-regulates fibronectin mRNA and protein expression by human peritoneal mesothelial cells (HPMC) through activation of protein kinase C (PKC). PKC is known to induce cellular reactive oxygen species (ROS) and PKC-dependent activation of the reduced form of nicotinamide adenine dinucleotide phosphate (NADPH) oxidase has recently been shown to be responsible. in part for increased oxidative stress in diabetes. On the other hand, high glucose-induced mitochondrial overproduction of superoxide anion was found to activate PCK. We, therefore hypothesized that high glucose-induced activation of PCK in HPMC may increase cellular ROS and ROS, in turn, may activate PKC and thus provide: signal amplification in high glucose-induced fibronectin up-regulation in HPMC. Methouds. The role of ROS in high glucose and PKC-induced fibronectin expression was examined by quantification of cellular ROS after stimulation with high glucose and phorbol 12-myristate 13-acetate (PMA), by the effect of hydrogen peroxide (H₂O₂) and PMA on fibronectin expression, and final1y by inhibition of ROS and PKC. The source of cellular ROS was further examined by inhibition of NADPH oxidase and mitochondrial metabolism. Results. D-glucose increased dichlorofluorescein (DCF)-sensitive cellular ROS in HPMC in a dose-dependent manner. L-glucose did not induce ROS generation and cytochalasin B completely blocked high glucose-induced ROS generation, suggesting that glucose uptake, but not media hyperosmolality, is required in ROS generation in HPMC. PMA increased cellular ROS and fibronectin secretion, A single dose of H₂O₂ or H₂O₂ continuously generated by glucose oxidase fibronectin expression. Antioxidants trolox and catalase inhibited high glucose- and PMA-induced fibronectin mRNA and protein expression. Inhibition of PKC inhibited high glucose and H₂O₂-induced fibronectin secretion. NADPH oxidase inhibitors (diphenyleneiodinium and apocynin) and an inhibitor of mitochondrial electron transport chain subunit I (rotenone) all effectively inhibited high glucose-induced cellular ROS generation and fibronectin secretion. Conclusion. The present data demonstrate that high glucose increases cellular ROS in HPMC through activation of PKC, NADPH oxidase, and mitochondrial metabolism and that ROS, thus generated, up-regulate fibronectin expression by HPMC. ROS are not only downstream but also upstream signaling molecules to PKC and provide signal amplification in high glucose-induced fibronectin expression by HPMC. The present data imply that cellular ROS may he potential therapeutic targets in progressive accumulation of extracellular matrix in the peritoneal tissue of long-term peritoneal dialysis patients using high glucose-containing peritoneal dialysis solutions.

요독증 환자의 면역 반응 - 2. B 형 간염 바이러스 보균자의 체외 T 세포 반응 -

이희발(Hi Bahl Lee),박춘식(Choon Sik Park),조성원(Sung Won Cho),한동철(Dong Cheol Han),황승덕(Seung Duk Hwang) 대한내과학회 1991 대한내과학회지 Vol.40 No.5

Background. The underlying mechanisms that lead to the development of the chronic HBsAg carrier state are not known. Host cellular and humoral immune responses are suspected of being important. Thus the chronic carrier state is particularly common among individuals with conditions or diseases associated with significant immunologic hyporesponsiveness such as uremia, Down s syndrome, leukemia and leprosy. Methods. In vitro T cell proliferative responses to phytohemagglutinin(PHA), mitogenic anti-CD3 monoclonal antibody and mitogenic combination of anti-CD2 9-1 and 9.6 and mitogen-induced interleukin-2(IL-2) and 2'5'-oligoadenylate synthetase (2'5'-AS) production were studied in 7 asymptomatic uremic HBsAg carriers (UC), 11 non-uremic asymptomatic carriers (NC), 6 uremic responders (1JR) and 12 non-uremic responders (NR) to hepatitis B vaccine in order to study immune responses of uremic HBsAg carriers. Peripheral blood mononuclear cells (PBMC) were separated by Ficoll-Hypaque gradient centrifugation. IL-2 production was measured by ELISA method and 2'5'-AS by RIA. Results. 1) The number of circulating lymphocytes was significantly lower in UC than in NR and NC. 2) Proliferative responses of PBMC from UC were not different from those of NR, NC, and UR. 3) IL-2 production was significantly higher in PHA- stimulated than in unstimualted cultures in all 4 groups but was most prominent in UR. Both unstimulated and stimulated IL-2 production were highter in NC, UR, and UC than in NR. 4) 2'5'-AS production was significantly greater in PHA-stimulated than in unstimulated cultures in all 4 groups but was significantly lower in UC than in NR or UR. No difference was observed between NC and UC. Conclusion. It appears that the defect in interferon production may play an important role in the development and maintenance of chronic HBsAg carrier state in uremia.

Advanced glycation end products mediate transforming growth factor-β1 and fibronectin synthesis by mesangial cells cultured under high glucose

Lee, Hi Bahl,Ha, Hunjoo 이화여자대학교 약학연구소 2004 藥學硏究論文集 Vol.- No.13

Background: Advanced glycation end products (AGEs) have been implicated in the pathogenesis of diabetic complications including nephropathy. Aminoguanidine prevents formation of AGEs and protein cross linking and has been shown to delay the onset and the progression of glomerular injury in experimental diabetic animals. Long-term exposure of mesangial cells to high glucose significantly increases transforming growth factor (TGF)-β1 and extracellular matrix mRNA and protein expression, which are two prominent features of diabetic glomerulopathy. However, the role of AGEs in mesangial cell activation induced by long-term exposure to high glucose has not been elucidated. Methods: The effects of aminoguanidine on the synthesis of TGF-β1 and fibronectin by rat mesangial cells cultured under high glucose for 2 weeks were examined and compared with the effects of N^(G)-nitro-L-arginine methyl ester (NAME), a selective nitric oxide synthase inhibitor, because aminoguanidine also inhibits the inducible nitric oxide synthase. Results: Culture of mesangial cells in 30 mM (high) glucose for 2 weeks induced 1.5-fold (ELISA) and 1.9-fold (Western blot analysis) increase in AGEs in the culture media. Northern blot analysis revealed 1.5-fold increase in TGF-β1 and 1.7-fold increase in fibronectin mRNA expression in cells cultured under high glucose compared to 5.6 mM (control) glucose. Increases in mRNA expression were followed by increased protein synthesis. Mink lung epithelial cell growth inhibition assay revealed 1.4-fold increase in TGF-01 protein in high glucose media compared to control. Fibronectin protein also increased 2.1-fold that of control glucose by Western blot analysis. Administration of aminoguanidine suppressed AGE formation in a dose dependent manner and at the same time suppressed TGF-β1 and fibronectin synthesis by mesangial cells cultured in both control and high glucose. In contrast, NAME did not affect high glucose-induced changes. Conclusion: These findings support a role for AGEs in high glucose-induced upregulation of TGF-β1 and fibronectin synthesis by mesangial cells.

계속적 외래 복강관류 환자에서의 당 흡수

이희발 ( Hi Bahl Lee ),김진홍 ( Jin Hong Kim ),김경수 ( Kyung Soo Kim ) 대한내과학회 1984 대한내과학회지 Vol.27 No.2