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Scale and Scope Economies and Prospect for the Korea's Banking Industry (우리나라 은행산업(銀行産業)의 효율성분석(效率性分析)과 제도개선방안(制度改善方案))

  • Jwa, Sung-hee
    • KDI Journal of Economic Policy
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    • v.14 no.2
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    • pp.109-153
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    • 1992
  • This paper estimates a translog cost function for the Korea's banking industry and derives various implications on the prospect for the Korean banking structure in the future based on the estimated efficiency indicators for the banking sector. The Korean banking industry is permitted to operate trust business to the full extent and the security business to a limited extent, while it is formally subjected to the strict, specialized banking system. Security underwriting and investment businesses are allowed in a very limited extent only for stocks and bonds of maturity longer than three year and only up to 100 percent of the bank paid-in capital. Until the end of 1991, the ceiling was only up to 25 percent of the total balance of the demand deposits. However, they are prohibited from the security brokerage business. While the in-house integration of security businesses with the traditional business of deposit and commercial lending is restrictively regulated as such, Korean banks can enter the security business by establishing subsidiaries in the industry. This paper, therefore, estimates the efficiency indicators as well as the cost functions, identifying the in-house integrated trust business and security investment business as important banking activities, for various cases where both the production and the intermediation function approaches in modelling the financial intermediaries are separately applied, and the banking businesses of deposit, lending and security investment as one group and the trust businesses as another group are separately and integrally analyzed. The estimation results of the efficiency indicators for various cases are summarized in Table 1 and Table 2. First, security businesses exhibit economies of scale but also economies of scope with traditional banking activities, which implies that in-house integration of the banking and security businesses may not be a nonoptimal banking structure. Therefore, this result further implies that the transformation of Korea's banking system from the current, specialized system to the universal banking system will not impede the improvement of the banking industry's efficiency. Second, the lending businesses turn out to be subjected to diseconomies of scale, while exhibiting unclear evidence for economies of scope. In sum, it implies potential efficiency gain of the continued in-house integration of the lending activity. Third, the continued integration of the trust businesses seems to contribute to improving the efficiency of the banking businesses, since the trust businesses exhibit economies of scope. Fourth, deposit services and fee-based activities, such as foreign exchange and credit card businesses, exhibit economies of scale but constant returns to scope, which implies, the possibility of separating those businesses from other banking and trust activities. The recent trend of the credit card business being operated separately from other banking activities by an independent identity in Korea as well as in the global banking market seems to be consistent with this finding. Then, how can the possibility of separating deposit services from the remaining activities be interpreted? If one insists a strict definition of commercial banking that is confined to deposit and commercial lending activities, separating the deposit service will suggest a resolution or a disappearance of banking, itself. Recently, however, there has been a suggestion that separating banks' deposit and lending activities by allowing a depository institution which specialize in deposit taking and investing deposit fund only in the safest securities such as government securities to administer the deposit activity will alleviate the risk of a bank run. This method, in turn, will help improve the safety of the payment system (Robert E. Litan, What should Banks Do? Washington, D.C., The Brookings Institution, 1987). In this context, the possibility of separating the deposit activity will imply that a new type of depository institution will arise naturally without contradicting the efficiency of the banking businesses, as the size of the banking market grows in the future. Moreover, it is also interesting to see additional evidences confirming this statement that deposit taking and security business are cost complementarity but deposit taking and lending businesses are cost substitute (see Table 2 for cost complementarity relationship in Korea's banking industry). Finally, it has been observed that the Korea's banking industry is lacking in the characteristics of natural monopoly. Therefore, it may not be optimal to encourage the merger and acquisition in the banking industry only for the purpose of improving the efficiency.

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The Effect of Heat Shock Response on the Tumor Necrosis Factor-$\alpha$-induced Acute Lung Injury in Rats (Tumor Necrosis Factor-$\alpha$로 유도되는 백서의 급성 폐손상에 열충격반응이 미치는 효과)

  • Koh, Youn-Suck;Lim, Chae-Man;Kim, Mi-Jung;Cho, Won-Kyung;Jeoung, Byung-O;Song, Kyu-Young;Shim, Tae-Sun;Lee, Sang-Do;Kim, Woo-Sung;Kim, Dong-Soon;Kim, Won-Dong
    • Tuberculosis and Respiratory Diseases
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    • v.44 no.6
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    • pp.1343-1352
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    • 1997
  • Background : Heat-treated cells are known to be protected from lysis by TNF, which is considered to play a central role in the pathogenesis of sepsis-induced acute lung injury. The objective of the study was to investigate the effect of heat shock response by heat-pretreatment on the acute lung injury of the rats induced by intratracheally administered TNF-$\alpha$, Methods : We intratracheally instilled either saline or TNF (R&D, 500ng) with and without heat pretreatment in Sprague-Dawley rats weighing 250~350 g. The heated rats were raised their rectal temperature to $41^{\circ}C$ and was maintained thereafter for 13 minutes at 18 h before intratracheal administration of saline or TNF. After 5 h of intratracheal treatment, lung leak, lung myeloperoxidase activity (MPO) and heat shock proteins were measured in rats. Lung leak index was defined as counts per minute of $I^{25}$ in the right lung divided by counts per minutes of $I^{25}$ in 1.0 ml of blood. All data are expressed as means ${\pm}$SE. Results : There is no difference in acute lung leak index ($0.099{\pm}0.024$ vs $0.123{\pm}0.005$) among the rats given saline intratracheally with and without heat pretreatment, but MPO activity showed a decreased tendency in heat-pretreated rats ($4.58{\pm}0.79\;U/g$) compared with heat-unpretreated rats ($7.32{\pm}0.97\;U/g$) (P=0.064). Rats administered TNF intratracheally with heat-pretreatment had decreased lung leak index ($0.137{\pm}0.012$) and lung MPO activity ($5.51{\pm}1.04\;U/g$) compared with those of heat-unpretreated and TNF-administered rats ($0.186{\pm}0.016$, $14.34{\pm}1.22\;U/g$) (P<0.05 in each). There were no significant difference of lung leak index and MPO activity between TNF-treated rats with heat-pretreatment and saline-treated rats with and without heat-pretreatment. Conclusion : The heat shock response attenuated neutrophil recruitment and acute lung leak induced by intratracheal instillation of TNF-in rats.

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Growth Efficiency, Carcass Quality Characteristics and Profitability of 'High'-Market Weight Pigs ('고체중' 출하돈의 성장효율, 도체 품질 특성 및 수익성)

  • Park, M.J.;Ha, D.M.;Shin, H.W.;Lee, S.H.;Kim, W.K.;Ha, S.H.;Yang, H.S.;Jeong, J.Y.;Joo, S.T.;Lee, C.Y.
    • Journal of Animal Science and Technology
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    • v.49 no.4
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    • pp.459-470
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    • 2007
  • Domestically, finishing pigs are marketed at 110 kg on an average. However, it is thought to be feasible to increase the market weight to 120kg or greater without decreasing the carcass quality, because most domestic pigs for pork production have descended from lean-type lineages. The present study was undertaken to investigate the growth efficiency and profitability of ‘high’-market wt pigs and the physicochemical characteristics and consumers' acceptability of the high-wt carcass. A total of 96 (Yorkshire × Landrace) × Duroc-crossbred gilts and barrows were fed a finisher diet ad laibtum in 16 pens beginning from 90-kg BW, after which the animals were slaughtered at 110kg (control) or ‘high’ market wt (135 and 125kg in gilts & barrows, respectively) and their carcasses were analyzed. Average daily gain and gain:feed did not differ between the two sex or market wt groups, whereas average daily feed intake was greater in the barrow and high market wt groups than in the gilt and 110-kg market wt groups, respectively(P<0.01). Backfat thickness of the high-market wt gilts and barrows corrected for 135 and 125-kg live wt, which were 23.7 and 22.5 mm, respectively, were greater (P<0.01) than their corresponding 110-kg counterparts(19.7 & 21.1 mm). Percentages of the trimmed primal cuts per total trimmed lean (w/w), except for that of loin, differed statistically (P<0.05) between two sex or market wt groups, but their numerical differences were rather small. Crude protein content of the loin was greater in the high vs. 110-kg market group (P<0.01), but crude fat and moisture contents and other physicochemical characteristics including the color of this primal cut were not different between the two sexes or market weights. Aroma, marbling and overall acceptability scores were greater in the high vs. 110-kg market wt group in sensory evaluation for fresh loin (P<0.01); however, overall acceptabilities for cooked loin, belly and ham were not different between the two market wt groups. Marginal profits of the 135- and 125-kg high-market wt gilt and barrow relative to their corresponding 110-kg ones were approximately -35,000 and 3,500 wons per head under the current carcass grading standard and price. However, if it had not been for the upper wt limits for the A- and B-grade carcasses, marginal profits of the high market wt gilt and barrow would have amounted to 22,000 and 11,000 wons per head, respectively. In summary, 120~125-kg market pigs are likely to meet the consumers' preference better than the 110-kg ones and also bring a profit equal to or slightly greater than that of the latter even under the current carcass grading standard. Moreover, if only the upper wt limits of the A- & B-grade carcasses were removed or increased to accommodate the high-wt carcass, the optimum market weights for the gilt and barrow would fall upon their target weights of the present study, i.e. 135 and 125 kg, respectively.

Culture Conditions of Aspergillus oryzae in Dried Food-Waste and the Effects of Feeding the AO Ferments on Nutrients Availability in Chickens (건조한 남은 음식물을 이용한 Aspergillus oryzae균주 배양조건과 그 배양물 급여가 닭의 영양소 이용률에 미치는 영향)

  • Hwangbo J.;Hong E. C.;Lee B. S.;Bae H. D.;Kim W.;Nho W. G.;Kim J. H.;Kim I. H.
    • Korean Journal of Poultry Science
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    • v.32 no.4
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    • pp.291-300
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    • 2005
  • Two experiments were carried out to assess the appropriate incubation conditions namely; duration, moisture content and the ideal microbial inoculant for fermented dried food waste(EW) offered to broilers. The nutrient utilization of birds fed the FW diets at varying dietary inclusion rates was also compared with a control diet. In Experiment 1, different moisture contents(MC) of 30, 40, 50 and $60\%$ respectively were predetermined to establish the ideal duration of incubation and the microbial inoculant. A 1mL Aspergillus oryzae(AO) $(1.33\times10^5\;CFU/mL)$ was used as the seed inoculant in FW. This results indicated that the ideal MC for incubation was $40\~50\%$ while the normal incubation time was > 72 hours. Consequently, AO seeds at 0.25, 0.50, 0.75 and 1.00mL were inoculated in FW to determine its effect on AO count. The comparative AO count of FW incubated for 12 and 96 hours, respectively showed no significant differences among varying inoculant dosage rates. The FW inoculated with lower AO seeds at 0.10, 0.05 and 0.01mL were likewise incubated for 72 and 96 hours, respectively and no changes in AO count was detected(p<0.05). The above findings indicated that the incubation requirements for FW should be $%40\~50\%$ for 72 hours with an AO seed incoulant dosage rate of 0.10mL. Consequently, in Experiment II, after determining the appropriate processing condition for the FW, 20 five-week old male Hubbard strain were used in a digestibility experiment. The birds were divided into 4 groups with 5 pens(1 bird per pen). The dietary treatments were; Treatment 1 : Control(Basal diet), Treatment 2 : $60\%$ Basal+4$40\%$ FW, Treatment 3 : $60\%$ $Basal+20\%\;FW+20\%$ AFW(Aspergillus oryzae inoculate dried food-waste diet) and Treatment 4: $60\%$ Basal+$40\%$ Am. Digestibility of treatment 2 was lowed on common nutrients and amino acids compared with control(p<0.05) and on crude fat and phosphorus compared with AFW treatments(T3, T4)(plt;0.05). Digestibility of treatment 3 and 4 increased on crude fiber and crude ash compared treatment 2 (p<0.05). Digestibility of control was high on agrinine, leucine, and phenylalnine of essential amino acids compared with treatment 3 and 4(p<0.05), and diestibility of treatment 3 and 4 was improved on arginine, lysine, and threonine of essential amino acids. Finally, despite comparable nutrient utilization among treatments, birds fed the dietary treatment containing AO tended to superior nutrient digestion to those fed the $60\%$ Basa1+$40\%$ FW.

A Study on Anjoon-gut Music in Daejeon - Focused on Sir Shin Seok-bong's Antaek-gut Music- (대전의 앉은굿 음악 연구 - 신석봉 법사의 안택굿을 중심으로 -)

  • Park, Hye-jeong
    • Korean Journal of Heritage: History & Science
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    • v.38
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    • pp.5-42
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    • 2005
  • Based on a field investigation of intangible cultural asset # 2, author Sir Shin Seok-bong of Daejeon Metropolitan Cityinvestigated the music of Antaek-gut, which is the base and core of Anjoon-gut, and found the following musical features: A Jang-gu(drum) and Kkoaengkwari(gong) were used to recitethe Sutra(kyungmoon) of Anjoon-gut. The Jang-gu, located on the right side, played an accompaniment role with regular beats when the Sutra was recited. The Kkoaengkwari, located on the left side, played the role of covering the caesura of the Sutra passages, so it is played with various rhythmic variations in accordance with Kojang(鼓杖). This is one way of playing Korean national classical music that has temporary caesuras, depending on the rector's bre! ath or the contents of a Sutra during the Sutra chanting, with the Jang-gu covering the pause with its variation. In other words, when being played in concert, the instruments that play the main melody are at rest while another instrument takes its turn to play the main melody as a form of prolonged sound. The rhythmic cycles of the sutras of Antaek-gut recited with this instrumental accompaniment consist of five types; a) Woemarch-jangdan (a single beat) of 4 meter by 3 bit, b) Dumarch-jangdan (two beats) of 8 meter by 3 bit, c) Saemarch-jangdan (three beats) of 4 meter by 3 bit with a fast tempo, d) Mak-gojang, uniform beats with a standardized rhythm, and e) incomplete beats deviated from the regular beats. Sir Shin Seok-bong chanted Chang (唱), a traditional native song which he called 'Cheong (淸)' with a cycle of 'Dumarch-jangdan' throughout the places of Antaek-gut. Only 'Toesonggyung' a chant for the gate that was the last location of the Antaek, was chanted with a cycle of 'Woemarch-jan! gdan'. In addition, 'Saemarch-jangdan' and 'Mak-gojang' that had comparatively faster tempos than the former two jangdans, were played without a chant when a female shaman was dancing and catching her spirit-invoking wand. The 'Saemarch-jangdan', particularly, was played while dancing began at a relatively slow tempo, then proceeded at a violent tempo and then back again to the slow tempo. This shows one of the representative tempos of our music with a slow-fast-slow tempo. The organizational tones were 'mi-la-do'-re'', and its key tones of 'mi-la-do'' were performed with perfect fourth and minor third, which was the same as those of Menari-tori. However, it did not show a typical Sigimse, an ornamental tone, of Menari-tory, whose first tone, 'mi', is vibrated and its Sigimse is gliding down from the tone 're' to 'do'. That is because the regional tone-tori of Chungcheong-do have a relatively weaker musical expression than that of Gyeongsang-do. In addition, the rhythmic types in accordance with the words of a song for the Antaek-gut music had a comparatively faster tempo than the other sutras. Also, it was only with 'Toesonggyeong' that the tone 'la' continuously appeared throughout the melody and showed 'a syllabic rhythm', while other places consisted of either a 'syncopation' or 'melismatic' rhythm. Finally, according to a brief investigation of the tone organization in accordance with each sutra, the tone 'la' was given more weight. The tone procedure showed a mainly ascending 'la-do'' and the descending 'la-mi' with minor third and perfect fourth. Also, the overall tempo proceeded with M.M.♩.=116-184, while the tempo for the Gut proceeded with M.M.♩.=120-140, which was suitable for reciting a Sutra.

Genetic Diversity of Korean Native Chicken Populations in DAD-IS Database Using 25 Microsatellite Markers (초위성체 마커를 활용한 가축다양성정보시스템(DAD-IS) 등재 재래닭 집단의 유전적 다양성 분석)

  • Roh, Hee-Jong;Kim, Kwan-Woo;Lee, Jinwook;Jeon, Dayeon;Kim, Seung-Chang;Ko, Yeoung-Gyu;Mun, Seong-Sil;Lee, Hyun-Jung;Lee, Jun-Heon;Oh, Dong-Yep;Byeon, Jae-Hyun;Cho, Chang-Yeon
    • Korean Journal of Poultry Science
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    • v.46 no.2
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    • pp.65-75
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    • 2019
  • A number of Korean native chicken(KNC) populations were registered in FAO (Food and Agriculture Organization) DAD-IS (Domestic Animal Diversity Information Systems, http://www.fao.org/dad-is). But there is a lack of scientific basis to prove that they are unique population of Korea. For this reason, this study was conducted to prove KNC's uniqueness using 25 Microsatellite markers. A total of 548 chickens from 11 KNC populations (KNG, KNB, KNR, KNW, KNY, KNO, HIC, HYD, HBC, JJC, LTC) and 7 introduced populations (ARA: Araucana, RRC and RRD: Rhode Island Red C and D, LGF and LGK: White Leghorn F and K, COS and COH: Cornish brown and Cornish black) were used. Allele size per locus was decided using GeneMapper Software (v 5.0). A total of 195 alleles were observed and the range was 3 to 14 per locus. The MNA, $H_{\exp}$, $H_{obs}$, PIC value within population were the highest in KNY (4.60, 0.627, 0.648, 0.563 respectively) and the lowest in HYD (1.84, 0.297, 0.286, 0.236 respectively). The results of genetic uniformity analysis suggested 15 cluster (${\Delta}K=66.22$). Excluding JJC, the others were grouped in certain cluster with high genetic uniformity. JJC was not grouped in certain cluster but grouped in cluster 2 (44.3%), cluster 3 (17.7%) and cluster8 (19.1%). As a results of this study, we can secure a scientific basis about KNC's uniqueness and these results can be use to basic data for the genetic evaluation and management of KNC breeds.

A Study on the long-term Hemodialysis patient중s hypotension and preventation from Blood loss in coil during the Hemodialysis (장기혈액투석환자의 투석중 혈압하강과 Coil내 혈액손실 방지를 위한 기초조사)

  • 박순옥
    • Journal of Korean Academy of Nursing
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    • v.11 no.2
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    • pp.83-104
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    • 1981
  • Hemodialysis is essential treatment for the chronic renal failure patient's long-term cure and for the patient management before and after kidney transplantation. It sustains the endstage renal failure patient's life which didn't get well despite strict regimen and furthermore it becomes an essential treatment to maintain civil life. Bursing implementation in hemodialysis may affect the significant effect on patient's life. The purpose of this study was to obtain the basic data to solve the hypotension problem encountable to patient and the blood loss problem affecting hemodialysis patient'a anemic states by incomplete rinsing of blood in coil through all process of hemodialysis. The subjects for this study were 44 patients treated hemodialysis 691 times in the hemodialysis unit, The .data was collected at Gang Nam 51. Mary's Hospital from January 1, 1981 to April 30, 1981 by using the direct observation method and the clinical laboratory test for laboratory data and body weight and was analysed by the use of analysis of Chi-square, t-test and anlysis of varience. The results obtained an follows; A. On clinical laboratory data and other data by dialysis Procedure. The average initial body weight was 2.37 ± 0.97kg, and average body weight after every dialysis was 2.33 ± 0.9kg. The subject's average hemoglobin was 7.05±1.93gm/dl and average hematocrit was 20.84± 3.82%. Average initial blood pressure was 174.03±23,75mmHg and after dialysis was 158.45±25.08mmHg. The subject's average blood ion due to blood sample for laboratory data was 32.78±13.49cc/ month. The subject's average blood replacement for blood complementation was 1.31 ±0.88 pint/ month for every patient. B. On the hypotensive state and the coping approaches occurrence rate of hypotension was 28.08%. It was 194 cases among 691 times. 1. In degrees of initial blood pressure, the most 36.6% was in the group of 150-179mmHg, and in degrees of hypotension during dialysis, the most 28.9% in the group of 40-50mmHg, especially if the initial blood pressure was under 180mmHg, 59.8% clinical symptoms appeared in the group of“above 20mmHg of hypotension”. If initial blood pressure was above 180mmHg, 34.2% of clinical symptoms were appeared in the group of“above 40mmHg of hypotension”. These tendencies showed the higher initial blood pressure and the stronger degree of hypotension, these results showed statistically singificant differences. (P=0.0000) 2. Of the occuring times of hypotension,“after 3 hrs”were 29.4%, the longer the dialyzing procedure, the stronger degree of hypotension ann these showed statistically significant differences. (P=0.0142). 3. Of the dispersion of symptoms observed, sweat and flush were 43.3%, and Yawning, and dizziness 37.6%. These were the important symptoms implying hypotension during hemodialysis accordingly. Strages of procedures in coping with hypotension were as follows ; 45.9% were recovered by reducing the blood flow rate from 200cc/min to 1 00cc/min, and by reducing venous pressure to 0-30mmHg. 33.51% were recovered by controling (adjusting) blood flow rate and by infusion of 300cc of 0,9% Normal saline. 4.1% were recovered by infusion of over 300cc of 0.9% normal saline. 3.6% by substituting Nor-epinephiine, 5.7% by substituting blood transfusion, and 7,2% by substituting Albumin were recovered. And the stronger the degree of symptoms observed in hypotention, the more the treatments required for recovery and these showed statistically significant differences (P=0.0000). C. On the effects of the changes of blood pressure and osmolality by albumin and hemofiltration. 1. Changes of blood pressure in the group which didn't required treatment in hypotension and the group required treatment, were averaged 21.5mmHg and 44.82mmHg. So the difference in the latter was bigger than the former and these showed statistically significant difference (P=0.002). On the changes of osmolality, average mean were 12.65mOsm, and 17.57mOsm. So the difference was bigger in the latter than in the former but these not showed statistically significance (P=0.323). 2. Changes of blood pressure in the group infused albumin and in the group didn't required treatment in hypotension, were averaged 30mmHg and 21.5mmHg. So there was no significant differences and it showed no statistical significance (P=0.503). Changes of osmolality were averaged 5.63mOsm and 12.65mOsm. So the difference was smaller in the former but these was no stitistical significance (P=0.287). Changes of blood pressure in the group infused Albumin and in the group required treatment in hypotension were averaged 30mmHg and 44.82mmHg. So the difference was smaller in the former but there is no significant difference (P=0.061). Changes of osmolality were averaged 8.63mOsm, and 17.59mOsm. So the difference were smaller in the former but these not showed statistically significance (P=0.093). 3. Changes of blood pressure in the group iutplemented hemofiltration and in the Uoup didn't required treatment in hypotension were averaged 22mmHg and 21.5mmHg. So there was no significant differences and also these showed no statistical significance (P=0.320). Changes of osmolality were averaged 0.4mOsm and 12.65mOsm. So the difference was smaller in the former but these not showed statistical significance(P=0.199). Changes of blood pressure in the group implemented hemofiltration and in the group required treatment in hypotension were averaged 22mmHg and 44.82mmHg. So the difference was smatter in the former and these showed statistically significant differences (P=0.035). Changes of osmolality were averaged 0.4mOsm and 17.59mOsm. So the difference was smaller in the former but these not showed statistical significance (P=0.086). D. On the changes of body weight, and blood pressure, between the group of hemofiltration and hemodialysis. 1, Changes of body weight in the group implemented hemofiltration and hemodialysis were averaged 3.340 and 3.320. So there was no significant differences and these showed no statistically significant difference, (P=0.185) but standard deviation of body weight averaged in comparison with standard difference of body weight was statistically significant difference (P=0.0000). Change of blood Pressure in the group implemented hemofiltration and hemodialysis were averaged 17.81mmHg and 19.47mmHg. So there was no significant differences and these showed no statistically significant difference (P=0.119), But in comparison with standard deviation about difference of blood pressure was statistically significant difference. (P=0.0000). E. On the blood infusion method in coil after hemodialysis and residual blood losing method in coil. 1, On comparing and analysing Hct of residual blood in coil by factors influencing blood infusion method. Infusion method of saline 200cc reduced residual blood in coil after the quantitative comparison of Saline Occ, 50cc, 100cc, 200cc and the differences showed statistical significance (p < 0.001). Shaking Coil method reduced residual blood in Coil in comparison of Shaking Coil method and Non-Shaking Coil method this showed statistically significant difference (P < 0.05). Adjusting pressure in Coil at OmmHg method reduced residual blood in Coil in comparison of adjusting pressure in Coil at OmmHg and 200mmHg, and this showed statistically significant difference (P < 0.001). 2. Comparing blood infusion method divided into 10 methods in Coil with every factor respectively, there was seldom difference in group of choosing Saline 100cc infusion between Coil at OmmHg. The measured quantity of blood loss was averaged 13.49cc. Shaking Coil method in case of choosing saline 50cc infusion while adjusting pressure in coil at OmmHg was the most effective to reduce residual blood. The measured quantity of blood loss was averaged 15.18cc.

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An Empirical Study in Relationship between Franchisor's Leadership Behavior Style and Commitment by Focusing Moderating Effect of Franchisee's Self-efficacy (가맹본부의 리더십 행동유형과 가맹사업자의 관계결속에 관한 실증적 연구 - 가맹사업자의 자기효능감의 조절효과를 중심으로 -)

  • Yang, Hoe-Chang;Lee, Young-Chul
    • Journal of Distribution Research
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    • v.15 no.1
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    • pp.49-71
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    • 2010
  • Franchise businesses in South Korea have contributed to economic growth and job creation, and its growth potential remains very high. However, despite such virtues, domestic franchise businesses face many problems such as the instability of franchisor's business structure and weak financial conditions. To solve these problems, the government enacted legislation and strengthened franchise related laws. However, the strengthening of laws regulating franchisors had many side effects that interrupted the development of the franchise business. For example, legal regulations regarding franchisors have had the effect of suppressing the franchisor's leadership activities (e.g. activities such as the ability to advocate the franchisor's policies and strategies to the franchisees, in order to facilitate change and innovation). One of the main goals of the franchise business is to build cooperation between the franchisor and the franchisee for their combined success. However, franchisees can refuse to follow the franchisor's strategies because of the current state of franchise-related law and government policy. The purpose of this study to explore the effects of franchisor's leadership style on franchisee's commitment in a franchise system. We classified leadership styles according to the path-goal theory (House & Mitchell, 1974), and it was hypothesized and tested that the four leadership styles proposed by the path-goal theory (i.e. directive, supportive, participative and achievement-oriented leadership) have different effects on franchisee's commitment. Another purpose of this study to explore the how the level of franchisee's self-efficacy influences both the franchisor's leadership style and franchisee's commitment in a franchise system. Results of the present study are expected to provide important theoretical and practical implications as to the role of franchisor's leadership style, as restricted by government regulations and the franchisee's self-efficacy, which could be needed to improve the quality of the long-term relationship between the franchisor and franchisee. Quoted by Northouse(2007), one problem regarding the investigation of leadership is that there are almost as many different definitions of leadership as there are people who have tried to define it. But despite the multitude of ways in which leadership has been conceptualized, the following components can be identified as central to the phenomenon: (a) leadership is a process, (b) leadership involves influence, (c) leadership occurs in a group context, and (d) leadership involves goal attainment. Based on these components, in this study leadership is defined as a process whereby franchisor's influences a group of franchisee' to achieve a common goal. Focusing on this definition, the path-goal theory is about how leaders motivate subordinates to accomplish designated goals. Drawing heavily from research on what motivates employees, path-goal theory first appeared in the leadership literature in the early 1970s in the works of Evans (1970), House (1971), House and Dessler (1974), and House and Mitchell (1974). The stated goal of this leadership theory is to enhance employee performance and employee satisfaction by focusing on employee motivation. In brief, path-goal theory is designed to explain how leaders can help subordinates along the path to their goals by selecting specific behaviors that are best suited to subordinates' needs and to the situation in which subordinates are working (Northouse, 2007). House & Mitchell(1974) predicted that although many different leadership behaviors could have been selected to be a part of path-goal theory, this approach has so far examined directive, supportive, participative, and achievement-oriented leadership behaviors. And they suggested that leaders may exhibit any or all of these four styles with various subordinates and in different situations. However, due to restrictive government regulations, franchisors are not in a position to change their leadership style to suit their circumstances. In addition, quoted by Northouse(2007), ssubordinate characteristics determine how a leader's behavior is interpreted by subordinates in a given work context. Many researchers have focused on subordinates' needs for affiliation, preferences for structure, desires for control, and self-perceived level of task ability. In this study, we have focused on the self-perceived level of task ability, namely, the franchisee's self-efficacy. According to Bandura (1977), self-efficacy is chiefly defined as the personal attitude of one's ability to accomplish concrete tasks. Therefore, it is not an indicator of one's actual abilities, but an opinion of the extent of how one can use that ability. Thus, the judgment of maintain franchisee's commitment depends on the situation (e.g., government regulation and policy and leadership style of franchisor) and how it affects one's ability to mobilize resources to deal with the task, so even if people possess the same ability, there may be differences in self-efficacy. Figure 1 illustrates the model investigated in this study. In this model, it was hypothesized that leadership styles would affect the franchisee's commitment, and self-efficacy would moderate the relationship between leadership style and franchisee's commitment. Theoretically, quoted by Northouse(2007), the path-goal approach suggests that leaders need to choose a leadership style that best fits the needs of subordinates and the work they are doing. According to House & Mitchell (1974), the theory predicts that a directive style of leadership is best in situations in which subordinates are dogmatic and authoritarian, the task demands are ambiguous, and the organizational rule and procedures are unclear. In these situations, franchisor's directive leadership complements the work by providing guidance and psychological structure for franchisees. For work that is structured, unsatisfying, or frustrating, path-goal theory suggests that leaders should use a supportive style. Franchisor's Supportive leadership offers a sense of human touch for franchisees engaged in mundane, mechanized activity. Franchisor's participative leadership is considered best when a task is ambiguous because participation gives greater clarity to how certain paths lead to certain goals; it helps subordinates learn what actions leads to what outcome. Furthermore, House & Mitchell(1974) predicts that achievement-oriented leadership is most effective in settings in which subordinates are required to perform ambiguous tasks. Marsh and O'Neill (1984) tested the idea that organizational members' anger and decline in performance is caused by deficiencies in their level of effort and found that self-efficacy promotes accomplishment, decreases stress and negative consequences like depression and emotional instability. Based on the extant empirical findings and theoretical reasoning, we posit positive and strong relationships between the franchisor's leadership styles and the franchisee's commitment. Furthermore, the level of franchisee's self-efficacy was thought to maintain their commitment. The questionnaires sent to participants consisted of the following measures; leadership style was assessed using a 20 item 7-point likert scale developed by Indvik (1985), self-efficacy was assessed using a 24 item 6-point likert scale developed by Bandura (1977), and commitment was assessed using a 6 item 5-point likert scale developed by Morgan & Hunt (1994). Questionnaires were distributed to Korean optical franchisees in Seoul. It took about 20 days to complete the data collection. A total number of 140 questionnaires were returned and complete data were available from 137 respondents. Results of multiple regression analyses testing the relationships between the each of the four styles of leadership shown by the franchisor as independent variables and franchisee's commitment as the dependent variable showed that the relationship between supportive leadership style and commitment ($\beta$=.13, p<.001),and the relationship between participative leadership style and commitment ($\beta$=.07, p<.001)were significant. However, when participants divided into high and low self-efficacy groups, results of multiple regression analyses showed that only the relationship between achievement-oriented leadership style and commitment ($\beta$=.14, p<.001) was significant in the high self-efficacy group. In the low self-efficacy group, the relationship between supportive leadership style and commitment ($\beta$=.17, p<.001),and the relationship between participative leadership style and commitment ($\beta$=.10, p<.001) were significant. The study focused on the franchisee's self-efficacy in order to explore the possibility that regulation, originally intended to protect the franchisee, may not be the most effective method to maintain the relationships in a franchise business. The key results of the data analysis regarding the moderating role of self-efficacy between leadership behavior style as proposed by path-goal and commitment theory were as follows. First, this study proposed that franchisor should apply the appropriate type of leadership behavior to strengthen the franchisees commitment because the results demonstrated that supportive and participative leadership styles by the franchisors have a positive influence on the franchisee's level of commitment. Second, it is desirable for franchisor to validate the franchisee's efforts, since the franchisee's characteristics such as self-efficacy had a substantial, positive effect on the franchisee's commitment as well as being a meaningful moderator between leadership and commitment. Third, the results as a whole imply that the government should provide institutional support, namely to put the franchisor in a position to clearly identify the characteristics of their franchisees and provide reasonable means to administer the franchisees to achieve the company's goal.

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THE FOOD AND GROWTH OF THE LARVAE OF THE ARK SHELL ANADARA BROUGHTONI SCHRENCK (피조개의 먹이와 성장)

  • Yoo Sung Kyoo
    • Korean Journal of Fisheries and Aquatic Sciences
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    • v.2 no.2
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    • pp.147-154
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    • 1969
  • The larvae of the ark shell Anadare broughtoni(Schrenck) were grown at room temporature (approximately $20.4^{\circ}C$), and fed laboratory-cultured Cyclotella nana. The egg of the ark shell produced in the laboratory measured about $54.9\mu$ in diameter. The embryos gradually developed into larvae up to $110.8\mu$ shell length, $83.9\mu$ shell height and with shell breadth of $58.2\mu$ even in the absence of the algal food. Beyond this sire, however, the growth of the larvae was considerably retarded. The larvae showed better growth rate when they were fed the algal food two days after spawning, i. e., early straight-hinge stage. Daily rate of food consumption varies according to the larval sizes. But the rate increases considerably when the larvae begin to form umbos. In general the rate Is indicated by the following formula: $Y=0.0025161\;X^{2.76459}$. The growth experiments of the larvae indicate that the efficiency of food conversion was higher when fed centrifuged food. Regarding to the difference in the slopes of growth curve, centrifuged food showed better growth rate as compared to those grown with the non-centrifuged food. The smaller the larval size, the greater will be the difference in growth. The larvae began settling when they reathed 261.7 to $289.6\;{\mu}$ in shell length, 199.2 to $221.7\mu$ in shell height and 147.6 to $170.8\mu$ in shell breadth. The time which elapsed from spawning to the larval settlement was about 28 days. The mean growth of the larvae is indicated with regression line and exponential curve equations as follows. Regression line shell length. 94.3 to $133.9\mu$ : Y==85.22857+3.35000X 141.6 to $269.3\mu$: Y=10.83036X-36.05357 296.8 to $373.2\mu$ : Y=19.10000X-279.30000 shell height: 72.7 to $89.7\mu$ : Y=67.11429+2.15714X 108.4 to $206.4\mu$ : Y=8.31607X-27.45357 228.6 to $282.1\mu$: Y=173.46700+13.37500X shell breadth: 45.3 to $77.8\mu$ : Y=38.08510X+2.73570X 87.4 to $157.7\mu$: Y=5.77320X-5.99640 175.4 to $214.0\mu$: Y=19.65000X-114.13300 Exponential curve shell length. 94.3 to $373.2\mu$: Y=72.45 $e^{0.04697x}$ shell height: 72.7 to $282.1\mu$: Y=54,96 $e^{0.04720x}$ shell breadth: 45.3 to $214.0\mu$ : Y=39.82 $e^{0.04927x}$ The relationships between the shell length and shell height and between the shell length and shell breadth are indicated as follows- shell height: 72.7 to $98.7\mu$ : Y=12.87780+0.63817X 108.4 to $206.4\mu$ : Y=0.90220+0.76456X 228.6 to $282.1\mu$ : Y=25.02630+0.69156X shell breadth: 45.3 to $77.8\mu$:Y=0.81373Xx-31.18914 87.4 to $157.7\mu$ : Y=13.37549+0.53230X 175.4 to $214.0\mu$: Y=30.24328+0.49545X

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Studies on the chemical composition of citrus fruits in Korea(I) -The chemical composition of main varieties- (한국산(韓國産) 감귤류(柑橘類)의 화학성분(化學成分)에 관(關)한 연구(硏究)(I) -주요(主要) 감귤품종별(柑橘品種別) 화학성분함량(化學成分含量)에 관(關)하여-)

  • Yang, C.B.;Park, H.;Kim, Z.U.
    • Applied Biological Chemistry
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    • v.8
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    • pp.29-37
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    • 1967
  • Citrus fruits of ten varieties grown in Chaeju island and a few other fruits for the comparison were analyzed to determined the contents of crude fat, crude fiber, total carbohydrates, macroelements and ash. Acids and sugars in fruit juices were also determined and the characteristic of neutralization of fruit juices were investigated. 1. The per cent of edible part of citrus fruits having the range of 48.5(Daingwoochi) to 72(Onju) were lower than that of other fruits. It was lower by about 8 per cent than that of the same variety produced in U.S.A. It was shown that the amount of rind per fruit might be increased in the citrus fruit grown in the low annual temperature. 2. The content of crude protein were around 1% and higher than other's. The contents of crude fat were below 0.1% in three varieties and over 0.1 in others. The contents of crude fiber were between 0.3 to 0.8% and the fruits with the high content of crude protein were inclined to have the high content of crude fiber and it was also shown that the low annual temperature was inclined to increase the amount of crude fiber per fruit. 3. The amount of total acid were from 19.5 m.e per 100 g of fresh fruit in Byongkyul to 44.2 m.e in Daingwoochi. The high percentage of titrable acid was over 90 in two sour varieties, Daingwoochi and Hakyul having pH below 3 and the high content of total acid. These two varieties were above 10 in the ratio of total acid in the edible part to the total acid in the rind(total acid in edible part/total acid in the rind). The content of combined acid was lower than that of titrable acid in the edible part and vice versa in the rind. 4. Navel was highest as 12.82% in the total sugar content and the lowest content was 4.9% of Hakyul. The contents of reducing sugar in the citrus fruits were about half of that in other fruits. The ratio of total sugar to titrable acid (sugar/acid: the grade of sweet taste) were lower than foreign products . 5. From the titration curves of fruit juices the characteristic of neutralization of juices could be grouped in three types, and other values, that is, pH, the content of total acid, the percentage of combined acid, the ratio of total acids in edible part and rind, the content of sugar, and the grade of sweet taste were also devided into the same three categories. 6. The contents of macroelements were different along to the each part of fruit. The content, in the seed were high and the ones in the rind were low. The contents of each element were in the order of $K_2O>N>P_2O_5{\gtrless}CaO{\gtrless}MgO$ in the edible part, $K_2O>N>CaO>P_2O_5{\gtrless}MgO$ in the rind, $N>K_2O>P_2O_5>CaO>MgO$ in the seed. The content of potassium was especially high in Marumeru and Hakyul and the content of calcium in citrus fruit was higher than others.

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