• Journal of Intelligence and Information Systems
• /
• v.22 no.4
• /
• pp.123-138
• /
• 2016

This study investigates intents of acquisitions in information technology industries. Mergers and acquisitions are a strategic decision at corporate-level and have been an important tool for a firm to grow. Plenty of firms in information technology industries have acquired startups to increase production efficiency, expand customer base, or improve quality over the last decades. For example, Google has made about 200 acquisitions since 2001, Cisco has acquired about 210 firms since 1993, Oracle has made about 125 acquisitions since 1994, and Microsoft has acquired about 200 firms since 1987. Although there have been many existing papers that theoretically study intents or motivations of acquisitions, there are limited papers that empirically investigate them mainly because it is challenging to measure and quantify intents of M&As. This study examines the intent of acquisitions by measuring specific intents for M&A transactions. Using our measures of acquisition intents, we compare the intents by four acquisition types: (1) the acquisition where a hardware firm acquires a hardware firm, (2) the acquisition where a hardware firm acquires a software/IT service firm, (3) the acquisition where a software/IT service firm acquires a hardware firm, and (4) the acquisition where a software /IT service firm acquires a software/IT service firm. We presume that there are difference in reasons why a hardware firm acquires another hardware firm, why a hardware firm acquires a software firm, why a software/IT service firm acquires a hardware firm, and why a software/IT service firm acquires another software/IT service firm. Using data of the M&As in US IT industries, we identified major intents of the M&As. The acquisition intents are identified based on the press release of M&A announcements and measured with four categories. First, an acquirer may have intents of cost saving in operations by sharing common resources between the acquirer and the target. The cost saving can accrue from economies of scope and scale. Second, an acquirer may have intents of product enhancement/development. Knowledge and skills transferred from the target may enable the acquirer to enhance the product quality or to expand product lines. Third, an acquirer may have intents of gain additional customer base to expand the market, to penetrate the market, or to enter a foreign market. Fourth, a firm may acquire a target with intents of expanding customer channels. By complementing existing channel to the customer, the firm can increase its revenue. Our results show that acquirers have had intents of cost saving more in acquisitions between hardware companies than in acquisitions between software companies. Hardware firms are more likely to acquire with intents of product enhancement or development than software firms. Overall, the intent of product enhancement/development is the most frequent intent in all of the four acquisition types, and the intent of customer base expansion is the second. We also analyze our data with the classification of production-side intents and customer-side intents, which is based on activities of the value chain of a firm. Intents of cost saving operations and those of product enhancement/development can be viewed as production-side intents and intents of customer base expansion and those of expanding customer channels can be viewed as customer-side intents. Our analysis shows that the ratio between the number of customer-side intents and that of production-side intents is higher in acquisitions where a software firm is an acquirer than in the acquisitions where a hardware firm is an acquirer. This study can contribute to IS literature. First, this study provides insights in understanding M&As in IT industries by answering for question of why an IT firm intends to another IT firm. Second, this study also provides distribution of acquisition intents for acquisition types.

• Journal of Ginseng Research
• /
• v.41 no.1
• /
• pp.103-112
• /
• 2017

Background: 20(S)-Protopanaxadiol 20-O-D-glucopyranoside, also called compound K (CK), exerts antidiabetic effects that are mediated by insulin secretion through adenosine triphosphate (ATP)-sensitive potassium ($K_{ATP}$) channels in pancreatic ${\beta}$-cells. However, the antidiabetic effects of CK may be limited because of its low bioavailability. Methods: In this study, we aimed to enhance the antidiabetic activity and lower the toxicity of CK by including it with ${\beta}$-cyclodextrin (CD) (CD-CK), and to determine whether the CD-CK compound enhanced pancreatic islet recovery, compared to CK alone, in an alloxan-induced diabetic zebrafish model. Furthermore, we confirmed the toxicity of CD-CK relative to CK alone by morphological changes, mitochondrial damage, and TdT-UTP nick end labeling (TUNEL) assays, and determined the ratio between the toxic and therapeutic dose for both compounds to verify the relative safety of CK and CD-CK. Results: The CD-CK conjugate ($EC_{50}=2.158{\mu}M$) enhanced the recovery of pancreatic islets, compared to CK alone ($EC_{50}=7.221{\mu}M$), as assessed in alloxan-induced diabetic zebrafish larvae. In addition, CD-CK ($LC_{50} =20.68{\mu}M$) was less toxic than CK alone ($LC_{50}=14.24{\mu}M$). The therapeutic index of CK and CD-CK was 1.98 and 9.58, respectively. Conclusion: The CD-CK inclusion complex enhanced the recovery of damaged pancreatic islets in diabetic zebrafish. The CD-CK inclusion complex has potential as an effective antidiabetic efficacy with lower toxicity.

• Proceedings of the KOSOMBE Conference
• /
• v.1996 no.05
• /
• pp.315-319
• /
• 1996

We have developed a prototype patient monitoring system including module-based bedside units, interbed network, and central stations. A bedside unit consists of a color monitor and a main CPU unit with peripherals including a module controller. It can also include up to 3 module cases and 21 different modules. In addition to the 3-channel recorder module, six different physiological parameters of ECG, respiration, invasive blood pressure, noninvasive blood pressure, body temperature, and arterial pulse oximetry with plethysmogaph are provided as parameter modules. Modules and a module controller communicate with up to 1Mbps data rate through an intrabed network based on RS-485 and HDLC protocol. Bedside units can display up to 12 channels of waveforms with any related numeric informations simultaneously. At the same time, it communicates with other bedside units and central stations through interbed network based on 10Mbps Ethernet and TCP/IP protocol. Software far bedside units and central stations fully utilizes gaphical user interface techniques and all functions are controlled by a rotate/push button on bedside unit and a mouse on central station. The entire system satisfies the requirements of AAMI and ANSI standards in terms of electrical safety and performances. In order to accommodate more advanced data management capabilities such as 24-hour full disclosure, we are developing a relational database server dedicated to the patient monitoring system. We are also developing a clinical workstation with which physicians can review and examine the data from patients through various kinds of computer networks far diagnosis and report generation. Portable bedside units with LCD display and wired or wireless data communication capability will be developed in the near future. New parameter modules including cardiac output, capnograph, and other gas analysis functions will be added.

• Journal of Broadcast Engineering
• /
• v.19 no.6
• /
• pp.767-788
• /
• 2014

The worldwide transition from analog to digital broadcasting has now been completed and the need to study next generation standards for Ultra High Definition TV (UHDTV) broadcasting, and broadcasting & communication convergence systems is rapidly growing. In particular, high resolution mobile broadcasting services are needed to satisfy recent consumers. Therefore, the development of highly efficient convergence broadcasting systems that provide fixed/mobile broadcasting through a single channel is needed. In this paper, a service scenario and requirements for providing 4K UHD & HD convergence broadcasting services through a terrestrial single channel are analyzed by employing the latest transmission and A/V codec technologies. Optimized transmission parameters for 6 MHz & 8 MHz terrestrial bandwidths are drawn, and receiving performances are measured under Additive White Gaussian Noise (AWGN) and time-varying multipath channels. From the results, in a 6 MHz bandwidth, the reliable receiving of HD layer data can be achieved when the receiver velocity is maximum 140 Km/h and is not achieved when the velocity is over 140 Km/h due to the limit of bandwidth. When the bandwidth is extended to 8 MHz, the reliable receiving of both 4K UHD and HD layer data is achieved under a very fast fading multipath channel.

• Journal of Global Scholars of Marketing Science
• /
• v.19 no.1
• /
• pp.37-46
• /
• 2009

The Census Bureau of the Department of Commerce announced in May 2008 that U.S. retail e-commerce sales for 2006 reached $ 107 billion, up from $ 87 billion in 2005 - an increase of 22 percent. From 2001 to 2006, retail e-sales increased at an average annual growth rate of 25.4 percent. The explosive growth of E-Commerce has caused profound changes in marketing channel relationships and structures in many industries. Despite the great potential implications for both academicians and practitioners, there still exists a great deal of uncertainty about the impact of the Internet channel introduction on distribution channel management. The purpose of this study is to investigate how the ownership of the new Internet channel affects the existing channel members and consumers. To explore the above research questions, this study conducts well-controlled mathematical experiments to isolate the impact of the Internet channel by comparing before and after the Internet channel entry. The model consists of a monopolist manufacturer selling its product through a channel system including one independent physical store before the entry of an Internet store. The addition of the Internet store to this channel system results in a mixed channel comprised of two different types of channels. The new Internet store can be launched by the independent physical store such as Bestbuy. In this case, the physical retailer coordinates the two types of stores to maximize the joint profits from the two stores. The Internet store also can be introduced by an independent Internet retailer such as Amazon. In this case, a retail level competition occurs between the two types of stores. Although the manufacturer sells only one product, consumers view each product-outlet pair as a unique offering. Thus, the introduction of the Internet channel provides two product offerings for consumers. The channel structures analyzed in this study are illustrated in Fig.1. It is assumed that the manufacturer plays as a Stackelberg leader maximizing its own profits with the foresight of the independent retailer's optimal responses as typically assumed in previous analytical channel studies. As a Stackelberg follower, the independent physical retailer or independent Internet retailer maximizes its own profits, conditional on the manufacturer's wholesale price. The price competition between two the independent retailers is assumed to be a Bertrand Nash game. For simplicity, the marginal cost is set at zero, as typically assumed in this type of study. In order to explore the research questions above, this study develops a game theoretic model that possesses the following three key characteristics. First, the model explicitly captures the fact that an Internet channel and a physical store exist in two independent dimensions (one in physical space and the other in cyber space). This enables this model to demonstrate that the effect of adding an Internet store is different from that of adding another physical store. Second, the model reflects the fact that consumers are heterogeneous in their preferences for using a physical store and for using an Internet channel. Third, the model captures the vertical strategic interactions between an upstream manufacturer and a downstream retailer, making it possible to analyze the channel structure issues discussed in this paper. Although numerous previous models capture this vertical dimension of marketing channels, none simultaneously incorporates the three characteristics reflected in this model. The analysis results are summarized in Table 1. When the new Internet channel is introduced by the existing physical retailer and the retailer coordinates both types of stores to maximize the joint profits from the both stores, retail prices increase due to a combination of the coordination of the retail prices and the wider market coverage. The quantity sold does not significantly increase despite the wider market coverage, because the excessively high retail prices alleviate the market coverage effect to a degree. Interestingly, the coordinated total retail profits are lower than the combined retail profits of two competing independent retailers. This implies that when a physical retailer opens an Internet channel, the retailers could be better off managing the two channels separately rather than coordinating them, unless they have the foresight of the manufacturer's pricing behavior. It is also found that the introduction of an Internet channel affects the power balance of the channel. The retail competition is strong when an independent Internet store joins a channel with an independent physical retailer. This implies that each retailer in this structure has weak channel power. Due to intense retail competition, the manufacturer uses its channel power to increase its wholesale price to extract more profits from the total channel profit. However, the retailers cannot increase retail prices accordingly because of the intense retail level competition, leading to lower channel power. In this case, consumer welfare increases due to the wider market coverage and lower retail prices caused by the retail competition. The model employed for this study is not designed to capture all the characteristics of the Internet channel. The theoretical model in this study can also be applied for any stores that are not geographically constrained such as TV home shopping or catalog sales via mail. The reasons the model in this study is names as "Internet" are as follows: first, the most representative example of the stores that are not geographically constrained is the Internet. Second, catalog sales usually determine the target markets using the pre-specified mailing lists. In this aspect, the model used in this study is closer to the Internet than catalog sales. However, it would be a desirable future research direction to mathematically and theoretically distinguish the core differences among the stores that are not geographically constrained. The model is simplified by a set of assumptions to obtain mathematical traceability. First, this study assumes the price is the only strategic tool for competition. In the real world, however, various marketing variables can be used for competition. Therefore, a more realistic model can be designed if a model incorporates other various marketing variables such as service levels or operation costs. Second, this study assumes the market with one monopoly manufacturer. Therefore, the results from this study should be carefully interpreted considering this limitation. Future research could extend this limitation by introducing manufacturer level competition. Finally, some of the results are drawn from the assumption that the monopoly manufacturer is the Stackelberg leader. Although this is a standard assumption among game theoretic studies of this kind, we could gain deeper understanding and generalize our findings beyond this assumption if the model is analyzed by different game rules.

• The Korean Journal of Physiology and Pharmacology
• /
• v.6 no.4
• /
• pp.215-223
• /
• 2002

The present study was undertaken to investigate the effect of doxorubicin (DX) on secretion of catecholamines (CA) evoked by ACh, high $K^+,$ DMPP and McN-A-343 from the isolated perfused rat adrenal gland and to establish the mechanism of its action. DX $(10^{-7}{\sim}10^{-6}\;M)$ perfused into an adrenal vein for 60 min produced relatively dose- and time-dependent inhibition of CA secretory responses evoked by ACh $(5.32{\times}10^{-3}\;M),$ DMPP $(10^{-4}\;M)$ and McN-A-343 $(10^{-4}\;M).$ However, lower dose of DX did not affect CA secretion by high $K^+\;(5.6{\times}10^{-2}\;M),$ but its higher doses depressed time-dependently CA secretion evoked by high $K^+.$ DX itself did also fail to affect basal CA output. In adrenal glands loaded with DX $(3{\times}10^{-7}\;M),$ CA secretory responses evoked by Bay-K-8644, an activator of L-type $Ca^{2+}$ channels and cyclopiazonic acid, an inhibitor of cytoplasmic $Ca^{2+}-ATPase$ were time-dependently inhibited. Furthermore, daunorubicin $(3{\times}10^{-7}\;M),$ given into the adrenal gland for 60 min, attenuated CA secretory responses evoked by ACh, high $K^+,$ DMPP and McN-A-343. Taken together, these results suggest that DX causes relatively dose- and time-dependent inhibition of CA secretory responses evoked by stimulation of cholinergic (both nicotinic and muscarinic) receptors from the isolated perfused rat adrenal gland. However, lower dose of DX did not affect CA secretion by high $K^+,$ and higher doses of DX reduced time-dependently CA secretion of high $K^+.$ It is thought that these effects of DX may be mediated by inhibiting both influx of extracellular calcium into the rat adrenomedullary chromaffin cells and intracelluar calcium release from the cytoplasmic store. Also, there was no difference in the mode of action between DX and daunorubicin in rat adrenomedullary CA secretion.

• Molecules and Cells
• /
• v.20 no.1
• /
• pp.69-73
• /
• 2005

The flavonoid, quercetin, is a low molecular weight substance found in apple, tomato and other fruit. Besides its antioxidative effect, quercetin, like other flavonoids, has a wide range of neuropharmacological actions including analgesia, and motility, sleep, anticonvulsant, sedative and anxiolytic effects. In the present study, we investigated its effect on mouse 5-hydroxytryptamine type 3 ($5-HT_{3A}$) receptor channel activity, which is involved in pain transmission, analgesia, vomiting, and mood disorders. The $5-HT_{3A}$ receptor was expressed in Xenopus oocytes, and the current was measured with the two-electrode voltage clamp technique. In oocytes injected with $5-HT_{3A}$ receptor cRNA, quercetin inhibited the 5-HT-induced inward peak current ($I_{5-HT}$) with an $IC_{50}$ of $64.7{\pm}2.2{\mu}M$. Inhibition was competitive and voltage-independent. Point mutations of pre-transmembrane domain 1 (pre-TM1) such as R222T and R222A, but not R222D, R222E and R222K, abolished inhibition, indicating that quercetin interacts with the pre-TM1 of the $5-HT_{3A}$ receptor.

• Korean Journal of Oriental Medicine
• /
• v.2 no.1
• /
• pp.381-401
• /
• 1996

The diagnostic requirements were suggested and explained regarding the systems of differentiation of syptoms and signs in the second year study of standardization and unification of the terms and conditions used for diagnosis in oriental medicine. The systems were as follows : -differential diagnosis according to condition of body fluid, differentiation of syndromes according to the state of qi and blood, differential diagnosis according to reletive excessiveness or deficiency of yin and yang(氣血陰陽津液辨證) -differentiation of diseases according to pathological changes of the viscera and their interrelation(臟腑辨證) -analysing and differentiating of febrile diseases in accordance with the theory of the six channels(傷寒辨證) The individual diagnosis pattern was arranged by the diagnostic requirements in the following odor : another name(異名), notion of diagnosis parrern(證候槪念), index of differentiation of syptoms and sings(辨證指標), the main point of diagnosis(診斷要點), analysis of diagnosis pattern(證候分析), discrimination of diagnosis pattern(證候鑑別), a wayof curing a diseases(治法), prescription(處方) , herbs in common use(常用藥物), dieases appearing the diagnosis pattern(常見疾病), documents(文獻調査). This study was carried out on the basis of the Chinese documents and references.

• The Korean Journal of Physiology and Pharmacology
• /
• v.24 no.6
• /
• pp.555-561
• /
• 2020

TWIK-related two-pore domain K⁺ channel-2 (TREK-2) has voltage-independent activity and shows additional activation by acidic intracellular pH (pH_i) via neutralizing the E³³² in the cytoplasmic C terminal (Ct). We reported opposite regulations of TREK-2 by phosphatidylinositol 4,5-bisphosphate (PIP₂) via the alkaline K³³⁰ and triple Arg residues (R^355-357); inhibition and activation, respectively. The G³³⁴ between them appeared critical because its mutation (G³³⁴A) endowed hTREK-2 with tonic activity, similar to the mutation of the inhibitory K³³⁰ (K³³⁰A). To further elucidate the role of putative bent conformation at G³³⁴, we compared the dual mutation forms, K³³⁰A/G³³⁴A and G³³⁴A/R^355-7A, showing higher and lower basal activity, respectively. The results suggested that the tonic activity of G³³⁴A owes to a dominant influence from R^355-7. Since there are additional triple Arg residues (R^377-9) distal to R^355-7, we also examined the triple mutant (G³³⁴A/R^355-7A/R^377-9A) that showed tonic inhibition same with G³³⁴A/R^355-7A. Despite the state of tonic inhibition, the activation by acidic pH_i was preserved in both G³³⁴A/R^355-7A and G³³⁴A/R^355-7A/R^377-9A, similar to the R^355-7A. Also, the inhibitory effect of ATP could be commonly demonstrated under the activation by acidic pH_i in R^355-7A, G³³⁴A/R^355-7A, and G³³⁴A/R^355-7A/R^377-9A. These results suggest that the putative bent conformation at G³³⁴ is important to set the tug-of-war between K³³⁰ and R^355-7 in the PIP₂-dependent regulation of TREK-2.

• Korean Journal of Remote Sensing
• /
• v.32 no.6
• /
• pp.741-746
• /
• 2016

Albedo is one of the climate variables that modulate absorption of solar energy, and its retrieval is important process for climate change study. High spatial resolution and long-term consistent periods are important considerations in order to efficiently use the retrieved albedo data. This study retrieved surface broadband albedo based on Landsat 8 as high resolution which is consistent with Landsat 7. First of all, we analyzed consistency of Landsat 7 channel and Landsat 8 channel. As a result, correlation coefficient(R) on all channels is average 0.96. Based on this analysis, we used multiple linear regression model using Landsat 7 albedo, which is being used in many studies, and Landsat 8 reflectance channel data. The regression coefficients of each channel calculated by regression analysis were used to derive a formula for converting the Landsat 8 reflectance channel data to broadband albedo. After Landsat 8 albedo calculated using the derived formula is compared with Landsat 7 albedo data, we confirmed consistency of two satellite using Root Mean Square Error (RMSE), R-square ($R^2$) and bias. As a result, $R^2$ is 0.89 and RMSE is 0.003 between Landsat 7 albedo and Landsat 8 albedo.