Long-Run Gains From International Equity Diversification: Taiwan`s Evidence, 1995-2001

( Chien Chung Neih ),( Tsangyao Chang ) 세종대학교 경제통합연구소 2003 Journal of Economic Integration Vol.18 No.3

This study attempts to explore whether there exist long-run gains from international equity diversification for Taiwan investors who invest in the stock markets of its major trading partners, namely those of Hong Kong, Japan, Singapore, South Korea, and the United States. We further incorporate two dummies, taking into account two financial shocks of the stock crash of the United States in 1997 (D97) and the Asian financial crisis (DAC), into our model. The results indicate that these six stock markets are cointegrated with one cointegrating vector, which implies that the efficient market hypothesis (EMH) is violated in this multinational stock markets and the Taiwan investors may not benefit from portfolio diversification in the stock markets of its major trading partners. However, the dropping of either Singapore or South Korea markets from the portfolios leads to a rejection of cointegration and hence implies gains from diversification. Our results argue that analysis of more extensive investment portfolios and the drawing of conclusions regarding portfolio diversification must be carried out with great care for Taiwan investors.

An approach for product life functionality under component deterioration process

Chien-Ping Chung,Angus Jeang 대한기계학회 2009 JOURNAL OF MECHANICAL SCIENCE AND TECHNOLOGY Vol.23 No.1

Product designers are always concerned that a newly developed product is properly performing its functionality for its intended life under consumer usage conditions. It is known that the failure rate is increased in the late time of product life cycle as the consequence of deterioration being built up. Namely, continuous changes may take place in the parameter values of product and the product application may be ended before expiration of its intended life. Hence, a design that considers parameter compensation to extend using time becomes an important factor in earlier stages of product design. Other than the parameter values, the tolerance values are an important element affecting the product performance, which are also needed to be decided appropriately. In this paper, an optimization model considers minimizing the total cost, which includes material cost, inspection cost, quality loss, failure cost, and tolerance cost by conducting concurrent optimization of the decision variables, initial setting, process mean, process tolerance, and using time. The design constraints are the restrictions resulting from process capability limits, functionality requirements, and quality necessities. The software GAMS was used to find optimal values for the decision variables of interest. Finally, an example of various components and subassemblies under deterioration process is presented to explain the proposed model and sensitivity analysis on some decision variables is performed.

The role of Asia-Pacific organizations in maintaining regional security

Chien Peng Chung 한국국방연구원 2008 The Korean Journal of Defense Analysis Vol.20 No.2

There are two regular regional security organizations in Asia*the Shanghai Cooperation Organization (SCO) and ASEAN Regional Forum (ARF)-through which regional states are involved in managing security pertaining to Eurasia and the Asia-Pacific, respectively. Since 2001, Asia-Pacific Economic Cooperation (APEC) leaders' meetings have addressed aspects of economic security. Whereas the SCO seems well institutionalized and purposeful, the ARF appears weakly structured and ineffective. This is because, while member states of the SCO are generally trustful of one another and hold in common most security objectives, concerns, and norms in the organization, many member states of the ARF have uneasy relations among themselves and share few security objectives, concerns, and norms in the forum. Moreover, while the SCO represents priority multilateral foreign and security policy interests for the People's Republic of China (PRC) and Russia, its two most important constituents, the ARF represents a secondary or fall-back position for the bilateral-first foreign and security policy relations of its major players like Japan, United States, and the PRC.

Evaluation of Heat Transfer in Acupuncture Needles: Convection and Conduction Approaches

Ya-Chien Chung,Chieh-Han John Tzou,Tzyy-Yih Yang 사단법인약침학회 2015 Journal of Acupuncture & Meridian Studies Vol.8 No.2

Originating in ancient China, acupuncture using needles has been developed for thousands of years and has received attention for its reported medical remedies, such as pain relief and chronic disease treatment. Heat transfer through the needles, which might have effects on the biomechanism of acupuncture, providing a stimulus and regulating homeostasis, has never been studied. This article analyzes the significance of heat transfer through needles via convection and conduction, approached by means of computational analysis. The needle is a cylindrical body, and an axis symmetrical steady-state heat-transfer model that viscosity and static pressure was not applied. This article evaluates heat transfer via acupuncture needles by using five metal materials: silver, copper, brass, iron, and stainless steel. A silver needle of the type extensively applied in acupuncture can dissipate more than seven times as much heat as a stainless steel needle of the same type. Heat transfer through such a needle is significant, compared to natural body-energy consumption over a range of ambient temperatures. The mechanism by which heat flows in or out of the body through the needles may be crucial in the remedial efficacy of acupuncture.

A Measure for Sight Translation Anxiety : Questionnaire Development and Validation

Karen Chung-chien Chang 이화여자대학교 통역번역연구소 2016 T&I review Vol.6 No.-

Recently, interpretation studies have tapped into the issue of anxiety, trying to identify the stress factors for students learning this discipline. Although many studies have been conducted on the instruction and learning of consecutive and simultaneous interpretation, the research related to sight translation (ST) is scarce. ST is the practice of interpreters reading the source text but delivering the rendition orally, making this practice more similar to interpreting in nature. ST is suggested to be taught as a preparatory course (Ilg and Lambert 2004) for those learning interpreting, and learners of interpretation face shared challenges and concerns. For these reasons, this study aimed at putting together a questionnaire for measuring anxiety-triggering factors for ST learners, so instructors could design their course activities to increase both learner interest and learning effectiveness. The questionnaire previously proposed by Lu and Liao (2012) was modified and refined through factor analyses. The original 34 items were narrowed down to 21 items, covering five subscales: learners’ concerns about evaluation (both from their peers and instructor), cognitive challenges in ST, worries about English competence, anxiety in ST performance, and attitudes of learning ST.

A Re-reading of Sacrifice to Detect Lao She`s Irony

( Karen Chung-chien Chang ) 이화여자대학교 통역번역연구소 2017 T&I review Vol.7 No.-

characterized by light-hearted humor. However, when China encountered all the chaos at the end of the Qing Dynasty, this writer turned to irony and satire. Sacrifice, a short story, was published in 1935 and translated into English by George Kao in 1975. When this story was translated, the last few pages were left out and the story ending changed. Although all translation works involve certain degrees of rewriting, Kao`s change of the story ending from tragic to happy is totally inadequate in showing Lao She`s use of irony. Through reviewing Lefevere`s rewriting theory, Kao`s translation thought and style from his major works, and the various ironies built up in this work, this analysis argues that a re-translation in which the ending is preserved can better help English readers to appreciate this short story.

특집 2 : 동아시아 소수민족의 사회 , 경제 ; 정보 , 기술의 발달이 소수민족문화에 끼친 영향

윤건중(Chien Chung Yin) 한양대학교 민족학연구소 1997 民族과文化 Vol.5 No.-

Long-Run Gains From International Equity Diversificaiton : Taiwan's Evidence, 1995-2001

Neih, Chien-Chung,Chang, Tsangyao 세종대학교 국제경제연구소 2003 Journal of Economic Integration Vol.18 No.3

This study attempts to explore whether there exist long-run gains from international equity diverstification for Taiwan investors who invest in the stock markets of its major trading patrners, namely those of Hong Kong, Japan, Singapore, Siuth Korea, and fhe United States. We further incorporate two dummies, taking into account two financial shocks of the stock crash of the United States in 1997 (D97) and the Asian financial crisis (DAC), into our model. The results indicate that these six stock markets are cintegrated with one cointegration vector, which implies that the effictient market hypithesis (EMH) is violated in this multinational stock markets and the Taiwan investors may not benefit from portfolio diversification in the stock markets of its major trading partners. However, the dropping of either Singapire or South Korea markets from the portfolios leads to a rejection of cointegration and hence implies gains from diversification, Our results argue that analysis of more extensive investment portfolios and the drawing of conclusions regarding portfolio diversification must be cattied out with great care for Taiwan investors.

Real-World Evidence for the Association Between Pneumonia-Related Intensive Care Unit Stay and Dementia

Chun-Han Wu,Chung-Kan Peng,Chi-Hsian Chung,Wu-Chien Chien,Nian-Sheng Tzeng 대한신경정신의학회 2022 PSYCHIATRY INVESTIGATION Vol.19 No.4

Objective There is limited clarity concerning the risk of dementia after pneumonia with intensive care unit (ICU) stay. We conducted a nationwide cohort study, which aimed to investigate the impact of dementia after pneumonia with and without intensive care unit admission.Methods Data was obtained from Taiwan’s National Health Insurance Research Database between 2000 and 2015. A total of 7,473 patients were identified as having pneumonia required ICU stay, along with 22,419 controls matched by sex and age. After adjusting for confounding factors, multivariate Cox regression model analysis was used to compare the risk of developing dementia during the 15-years follow-up period.Results The enrolled pneumonia patients with ICU admission had a dementia rate of 9.89%. Pneumonia patients without ICU admission had a dementia rate of 9.21%. The multivariate Cox regression model analysis revealed that the patients with ICU stay had the higher risk of dementia, with a crude hazard ratio of 3.371 (95% confidence interval, 3.093–3.675; p<0.001).Conclusion This study indicated that pneumonia with ICU stay is associated with an increased risk of dementia. A 3-fold risk of dementia was observed in patients admitted to the ICU compared to the control group.

북경 중국은행 본사

차이엔 청 페이(Chien Chung Pei),리 청 페이(Li Chung Pei) 현대건축사 2002 월간 CONCEPT Vol.- No.35