• Journal of Korean Society of Forest Science
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• v.43 no.1
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• pp.20-30
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• 1979

The purpose of present study is to analyze the genetic variation of natural stand of Pinus densiflora. In 1976 following after the seletion of 1974 and 1975, twenty trees from each of three natural populations of the species were selected and seeds were collected, and the locations and conditions of populations are presented in table 1, 2 and figure 1. Some morphological traits of the populations were already detailed in our fifth report of this series. The morphological traits of cone, seed and seed-wing, and also the growth performances and needle characters of the seedling were observed in the present study according to the previous methods. The results obtained are summarized as follows; 1. The meteorological data obtained by averaging the records of 30 year period(1931~1960) measured from the nearest meteorological station to each population are shown in fig. 2, 3, 4. The distributional patterns of investigated climate factors are generally considered to be similar among the locations. However, the precipitation density during growing season and the air temperature during dormant season on Samchuk area (Pop. 9) were quite different from those of the other areas. 2. The measurements of fresh cone weight, length, diameter and cone index (i.e.: length to diameter ratio) are presented in table 7. As shown in table 7, all these traits except for cone diameter seem to be not significant in population and to be highly significant in family differences within population. 3. The morohological traits of seed and seed-wing are detailed in table 8, 9, and highly significant differences are recognized among the populations and the families within population in seed weight, seed length, seed thickness but not among the populations in the other observed traits. The values of correlation between the characteristics of cone and seed are presented in table 12. As shown, the correlation between cone length and seed wing length, between seed wing width and seed width were significantly positive in population 8 and 9 but in population 7. The positive correlations between seed length and seed width were calculated in all populations studied 4. Significant statistical differences among populations and families within population are observed in the growth performances of 1-0 seedling height of these progenies. But the differences in 1-1 seedling height and root collar diameter are shown only among familes within population. As shown in table 13, the most parts of correlations are not significant statistically between the growth performances of seedling and the seed characters. 5. As shown in table 15, statistical differences are considered to be significant among the populations in stomata row on both sides of the needle but not in serration density. The correlations between progenies and parents are not generally observed in the investigated traits of needle as shown in table 16.

• Journal of the Korean Society of Food Science and Nutrition
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• v.36 no.8
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• pp.1083-1093
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• 2007

The purpose of this study was to investigate the difference between students' beverage preference and dietitians' perception in elementary school lunch program. This study was conducted in three phases: (1) questionnaire development and survey administration to elementary school students (2) survey administration to dietitians who were in charge of the elementary school food service, and (3) comparison of beverage preferences between elementary school students and dietitians. In phase I, 703 elementary school students in Seoul were surveyed from July 11 to July 19. In Phase II, 100 school food service dietitians in Seoul participated by mail survey from September 15 to October 30, 2006. Based on the results, elementary school students tended to show a neutral milk preference (mean=3.04), whereas dietitians perceived that elementary school students had lower milk preference (mean=2.67). Also dietitians perceived higher yogurt preference (mean=4.27) than the real elementary school students' preference (mean=4.02). T-test results showed the gender difference on milk and yogurt preference. Male students had higher milk preference (t=4.912, p<0.001) and yogurt preference (t=3.621, p<0.001) than female students. Elementary school students showed high fruit juice preference (mean=4.34); however, dietitians perceived lower fruit juice preference of students (mean=3.92). There was no gender difference on fruit juice preference. Though elementary school students had higher fruit juice preference, the frequency of fruit juice served in school lunch was quite low. Over half of the dietitians reported that they served fruit juice less than once a semester. The results of this study indicated the existence of distinctive difference between students' fruit juice preference and school lunch menu offerings.

• Korean journal of applied entomology
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• v.16 no.3 s.32
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• pp.171-179
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• 1977

Since the outbreak of the brown planthopper (Nilaparvata lugens) in 1915 caused tremendous losses in rice production, one of the more effective method of prevention of such a disaster could be the establishment of longterm forecasting system, In 1916 the author indicated there was a correlation between sunspot activities and brown planthopper and the white back planthopper outbreaks. However, the examples seem to be too small size to state a definite correlation. The purpose of the present study IS to revi~w the history of the brown planthopper outbreaks, and to establish a more effective forcasting system. The present forcasting methods are based on light trap catches of adults which already migrate into this country from mainland China. The regular cycle of 11.2 years of sunspot activity began in 1710, and was continued to present. To gather more records of brown planthopper, the author checked 'Joseon Wangjo Silrok' and analized the so-called 'Hwang' 'Hwang-chung' and 'Chung' which have multiple meanings, together with 'Samguk Sagi' 'Goryo Sa' and 'Munheon Bigo.' The results obtained by the about from review of these old literature citations revealed that ten species of insect and unknown species were involved: i. e., pine moth (Dendrolimus spectabilis), army worm (Mythimna separata), brown planthopper (Nilarvata lugens), white-back planthopper (Sogatella furcifera), migratory locust (Locutsa migratoria), rice stem borer (Chilo suppressalis,), mole cricket (Gryllotalpa africana), rice-plant weevil (Echinocnemus squameus), cut worm (Euxoa segetum), and mulberry pyralid Margaronia pyloalis) The suspected incidence of planthopper in old records expressed by 'Hwang' or 'Chung' revealed a total or 25 out of 37 in 'Samguk sagi,' 21 out of 49 in 'Goryo sa,' 9 of 73 in 'Wanjo-silrog,' and none of 8 in 'Munheon bigo' were planthoppers. Therefore, a total of 36 out of 167 records of insect incidence in the old literature can be possibly attributed to planthoppers. The brown planthopper and white-back planthopper migrate together to Korea every year from mainland China, However, the number of each species are differ by year. In 1975 outbreak the brown planthopper was dominant; and the white-back planthopper prevailed in 1946 and 1977 outbreaks, During the course of this study, the author was able to add a new record of outbreak of planthop per. In 1916 the white-back planthopper outbreak caused serious losses in Chungcheong-namdo and Jeonla-namdo, with losses estimated as high as 160 and 190 thousand seok (23.2 and 27.5 thousand M/T), in Naju and Secheon county, respectively. Since 1912, major outbreaks of brown planthopper or white-back planthopper have been recored 5 times. These occurrences coincide and well matched the period of minimum number of sunspots, With these authenticated records of planthoppers, the author believes there is a close correlation between brown planthopper and white-back planthopper outbreaks in Korea and sunspot activities. Therefore, in years of low number of sunspots, we should watch for and expect outbreaks of these. insects. At this time, it will be necessary to provide all possible prevention measures.

• Journal of the Korean Society of Food Science and Nutrition
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• v.21 no.1
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• pp.36-42
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• 1992

The lipid compositions of total lipid extracted from the flesh divided into albinic type and melanic type of culture shellfishes, i.e. Achatina fucica Bowdich, Ampullarius insularus were compared. Total lipid contents of shellfishes were $1.11{\sim}3.25%$, the levels were appeared higher in Ampullarius insularus than Achatina fucica Bowdich, and in albinic type than melanic type. It was found that the contents of neutral lipids $(31.79{\sim}40.60%)$ and phospholipids $(50.95{\sim}62.12%)$ were high, while that of glycolipids $(4.84{\sim}9.47%)$ were low. The major fatty acids in total lipid of each sample were $C_{18:2}(11.92{\sim}14.37%)$, $C_{18:1}(12.34{\sim}13.64%)$, $C_{20:4}(11.03{\sim}13.74%)$, $C_{16:0}(7.45{\sim}15.39%)$ and $C_{18:0}(7.34{\sim}11.80%)$ and additionally $C_{20:2}(9.62{\sim}10.19%)$ in Achatina fucica Bowdich, and the major fatty acid composition in total lipids of each sample showed no significant differences between albinic type and melanic type, respectively. Particularly the content of $C_{16:0}$ in total lipids was shown more abundant in Ampullarius insularus and that of $C_{18:0}$, C_{20:2}$ in Achatina fucica Bowdich. The content of polyene acids in total lipids occupied higher level in Achatina fucica Bowdich but $C_{22:6}$ was almost detected, and observed relatively higher amounts in Ampullarius insularus. The main fatty acids in neutral lipid of Achatina fucica Bowdich were $C_{18:2}(16.80{\sim}17.74%)$, $C_{20:2}(12.15{\sim}12.59%)$, $C_{18:1}(9.79{\sim}10.37%)$, $C_{18:0}(7.71{\sim}12.43%)$ and C_{16:0},\;C_{20:4}$ and additionally $C_{18:3} (20.90%)$ was shown predominant in melanic type and the level of polyene acid highest in neutral lipids. The neutral lipids in each type of Ampullarius insularus were mainly composed of $C_{16:0}(16.96{\sim}17.46%)$, $C_{18:1}(13.79{\sim}13.95%)$ and $C_{18:2} (12.90{\sim}15.70%)$ and additionally it chiefly consisted of $C_{18:1}$, $C_{20:4}$and$C_{22:6}$. The major fatty acids in each type of glycolipids were $C_{18:2}(19.01{\sim}19.72)$, $C_{16:0}(12.89{\sim}18.76%)$ and $C_{18:0}(12.68{\sim}17.52%)$ and additionally $C_{18:1}$ in Achatina fucica Bowdich, but $C_{22:1}$ was detected in relatively higher level by 6.95% in albinic type only. The major fatty acids in glycolipids were $C_{18:2}(12.46{\sim}18.21%)$, $C_{16:0}(10.43{\sim}18.48%)$, $C_{20:1}(10.51{\sim}14.59%)$, $C_{20:4}(8.24{\sim}12.34%)$ and additionally it chiefly consisted of $C_{18:0}\;and\;C_{18:1}$ in Ampullarius insularus. The fatty acid composition in phospholipids of each sample was very resembled to total lipids, respectively.

• Journal of Korean Society of Forest Science
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• v.77 no.3
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• pp.303-314
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• 1988

Tong-ri beach has not enough vegetation to be enjoyed by the sea bathers and to be satisfied with preventing the disaster-damages, but mixed forest near the beach can work its funtions and the old forest of Pirus thunbergii $P_{ARL}$. near the beach do a Little. Therefore it is very urgent to plant more trees near the beach for bathers and disaster-damage prevention. This study was carried out for planning an afforestation, with reporting upon the crown amounts and soil properties of disaster-damage prevention forests of P. thunbergii $P_{ARL}$. planted on the coast sand dunes in 1970 and 1976, and with reporting upon the valuation on soil properties of the lands near the beach in order to set the afforestation site. The results are as follows : 1. In disaster-damage prevention forests, crown surface area and crown volume became increasingly greater in proportion to the height. To D.B.H., crown volume also became increasingly greater in proportion, but crown surface area was directly proportional. 2. In comparison to sail characteristics of sand dune, those of the forests were in large quantity in OM, T-N and avail. $SiO_2$, and almost in the same in avail. $P_2O_5$, but in small quantity in exchangeable canons : K, Ca, Mg and Na. 3. EC, Cl and pH were in small value in the forest soils, but CEC was in large value in those soils. 4. Above facts showed that the forests fulfill their functions for preventing disaster-damages and improve their soil properties. 5. The forests have naturally been thinned up to 34% in 17 years and 39% in 11 years, and one can easily pass through the forest(planted in 1970), because of its sufficient clear-length(2.71m) and its space to pass. 6. A plan for afforestation was oracle nut after judging several sites by the evaluation on the soil properties and considering the best relaxation and the prevention of the various disaster-damages upon which were reported in the last issue. 7. Afforestation should be kept for maintaining its appropriate density for best relaxation and disaster-damage prevention.

• Journal of Intelligence and Information Systems
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• v.18 no.3
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• pp.53-77
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• 2012

This study analyses the difference of contents and tones of arguments among three Korean major newspapers, the Kyunghyang Shinmoon, the HanKyoreh, and the Dong-A Ilbo. It is commonly accepted that newspapers in Korea explicitly deliver their own tone of arguments when they talk about some sensitive issues and topics. It could be controversial if readers of newspapers read the news without being aware of the type of tones of arguments because the contents and the tones of arguments can affect readers easily. Thus it is very desirable to have a new tool that can inform the readers of what tone of argument a newspaper has. This study presents the results of clustering and classification techniques as part of text mining analysis. We focus on six main subjects such as Culture, Politics, International, Editorial-opinion, Eco-business and National issues in newspapers, and attempt to identify differences and similarities among the newspapers. The basic unit of text mining analysis is a paragraph of news articles. This study uses a keyword-network analysis tool and visualizes relationships among keywords to make it easier to see the differences. Newspaper articles were gathered from KINDS, the Korean integrated news database system. KINDS preserves news articles of the Kyunghyang Shinmun, the HanKyoreh and the Dong-A Ilbo and these are open to the public. This study used these three Korean major newspapers from KINDS. About 3,030 articles from 2008 to 2012 were used. International, national issues and politics sections were gathered with some specific issues. The International section was collected with the keyword of 'Nuclear weapon of North Korea.' The National issues section was collected with the keyword of '4-major-river.' The Politics section was collected with the keyword of 'Tonghap-Jinbo Dang.' All of the articles from April 2012 to May 2012 of Eco-business, Culture and Editorial-opinion sections were also collected. All of the collected data were handled and edited into paragraphs. We got rid of stop-words using the Lucene Korean Module. We calculated keyword co-occurrence counts from the paired co-occurrence list of keywords in a paragraph. We made a co-occurrence matrix from the list. Once the co-occurrence matrix was built, we used the Cosine coefficient matrix as input for PFNet(Pathfinder Network). In order to analyze these three newspapers and find out the significant keywords in each paper, we analyzed the list of 10 highest frequency keywords and keyword-networks of 20 highest ranking frequency keywords to closely examine the relationships and show the detailed network map among keywords. We used NodeXL software to visualize the PFNet. After drawing all the networks, we compared the results with the classification results. Classification was firstly handled to identify how the tone of argument of a newspaper is different from others. Then, to analyze tones of arguments, all the paragraphs were divided into two types of tones, Positive tone and Negative tone. To identify and classify all of the tones of paragraphs and articles we had collected, supervised learning technique was used. The Na$\ddot{i}$ve Bayesian classifier algorithm provided in the MALLET package was used to classify all the paragraphs in articles. After classification, Precision, Recall and F-value were used to evaluate the results of classification. Based on the results of this study, three subjects such as Culture, Eco-business and Politics showed some differences in contents and tones of arguments among these three newspapers. In addition, for the National issues, tones of arguments on 4-major-rivers project were different from each other. It seems three newspapers have their own specific tone of argument in those sections. And keyword-networks showed different shapes with each other in the same period in the same section. It means that frequently appeared keywords in articles are different and their contents are comprised with different keywords. And the Positive-Negative classification showed the possibility of classifying newspapers' tones of arguments compared to others. These results indicate that the approach in this study is promising to be extended as a new tool to identify the different tones of arguments of newspapers.

• Journal of Global Scholars of Marketing Science
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• v.17 no.2
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• pp.31-54
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• 2007

The exchange between buyers and sellers in the industrial market is changing from short-term to long-term relationships. Long-term relationships are governed mainly by formal contracts or informal agreements, but many scholars are now asserting that controlling relationship by using formal contracts under environmental dynamism is inappropriate. In this case, partners will depend on each other's flexibility or interdependence. The former, flexibility, provides a general frame of reference, order, and standards against which to guide and assess appropriate behavior in dynamic and ambiguous situations, thus motivating the value-oriented performance goals shared between partners. It is based on social sacrifices, which can potentially minimize any opportunistic behaviors. The later, interdependence, means that each firm possesses a high level of dependence in an dynamic channel relationship. When interdependence is high in magnitude and symmetric, each firm enjoys a high level of power and the bonds between the firms should be reasonably strong. Strong shared power is likely to promote commitment because of the common interests, attention, and support found in such channel relationships. This study deals with environmental dynamism in high-tech industry. Firms in the high-tech industry regard it as a key success factor to successfully cope with environmental changes. However, due to the lack of studies dealing with environmental dynamism and supply chain commitment in the high-tech industry, it is very difficult to find effective strategies to cope with them. This paper presents the results of an empirical study on the relationship between environmental dynamism and supply chain commitment in the high-tech industry. We examined the effects of consumer, competitor, and technological dynamism on supply chain commitment. Additionally, we examined the moderating effects of flexibility and dependence of supply chains. This study was confined to the type of high-tech industry which has the characteristics of rapid technology change and short product lifecycle. Flexibility among the firms of this industry, having the characteristic of hard and fast growth, is more important here than among any other industry. Thus, a variety of environmental dynamism can affect a supply chain relationship. The industries targeted industries were electronic parts, metal product, computer, electric machine, automobile, and medical precision manufacturing industries. Data was collected as follows. During the survey, the researchers managed to obtain the list of parts suppliers of 2 companies, N and L, with an international competitiveness in the mobile phone manufacturing industry; and of the suppliers in a business relationship with S company, a semiconductor manufacturing company. They were asked to respond to the survey via telephone and e-mail. During the two month period of February-April 2006, we were able to collect data from 44 companies. The respondents were restricted to direct dealing authorities and subcontractor company (the supplier) staff with at least three months of dealing experience with a manufacture (an industrial material buyer). The measurement validation procedures included scale reliability; discriminant and convergent validity were used to validate measures. Also, the reliability measurements traditionally employed, such as the Cronbach's alpha, were used. All the reliabilities were greater than.70. A series of exploratory factor analyses was conducted. We conducted confirmatory factor analyses to assess the validity of our measurements. A series of chi-square difference tests were conducted so that the discriminant validity could be ensured. For each pair, we estimated two models-an unconstrained model and a constrained model-and compared the two model fits. All these tests supported discriminant validity. Also, all items loaded significantly on their respective constructs, providing support for convergent validity. We then examined composite reliability and average variance extracted (AVE). The composite reliability of each construct was greater than.70. The AVE of each construct was greater than.50. According to the multiple regression analysis, customer dynamism had a negative effect and competitor dynamism had a positive effect on a supplier's commitment. In addition, flexibility and dependence had significant moderating effects on customer and competitor dynamism. On the other hand, all hypotheses about technological dynamism had no significant effects on commitment. In other words, technological dynamism had no direct effect on supplier's commitment and was not moderated by the flexibility and dependence of the supply chain. This study makes its contribution in the point of view that this is a rare study on environmental dynamism and supply chain commitment in the field of high-tech industry. Especially, this study verified the effects of three sectors of environmental dynamism on supplier's commitment. Also, it empirically tested how the effects were moderated by flexibility and dependence. The results showed that flexibility and interdependence had a role to strengthen supplier's commitment under environmental dynamism in high-tech industry. Thus relationship managers in high-tech industry should make supply chain relationship flexible and interdependent. The limitations of the study are as follows; First, about the research setting, the study was conducted with high-tech industry, in which the direction of the change in the power balance of supply chain dyads is usually determined by manufacturers. So we have a difficulty with generalization. We need to control the power structure between partners in a future study. Secondly, about flexibility, we treated it throughout the paper as positive, but it can also be negative, i.e. violating an agreement or moving, but in the wrong direction, etc. Therefore we need to investigate the multi-dimensionality of flexibility in future research.

• Proceedings of the Korean Institute of Intelligent Systems Conference
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• 1993.06a
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• pp.1051-1054
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• 1993

The International Atomic Energy Agency's Statute in Article III.A.5 allows it“to establish and administer safeguards designed to ensure that special fissionable and other materials, services, equipment, facilities and information made available by the Agency or at its request or under its supervision or control are not used in such a way as to further any military purpose; and to apply safeguards, at the request of the parties, to any bilateral or multilateral arrangement, or at the request of a State, to any of that State's activities in the field of atomic energy”. Safeguards are essentially a technical means of verifying the fulfilment of political obligations undertaken by States and given a legal force in international agreements relating to the peaceful uses of nuclear energy. The main political objectives are: to assure the international community that States are complying with their non-proliferation and other peaceful undertakings; and to deter (a) the diversion of afeguarded nuclear materials to the production of nuclear explosives or for military purposes and (b) the misuse of safeguarded facilities with the aim of producing unsafeguarded nuclear material. It is clear that no international safeguards system can physically prevent diversion. The IAEA safeguards system is basically a verification measure designed to provide assurance in those cases in which diversion has not occurred. Verification is accomplished by two basic means: material accountancy and containment and surveillance measures. Nuclear material accountancy is the fundamental IAEA safeguards mechanism, while containment and surveillance serve as important complementary measures. Material accountancy refers to a collection of measurements and other determinations which enable the State and the Agency to maintain a current picture of the location and movement of nuclear material into and out of material balance areas, i. e. areas where all material entering or leaving is measurab e. A containment measure is one that is designed by taking advantage of structural characteristics, such as containers, tanks or pipes, etc. To establish the physical integrity of an area or item by preventing the undetected movement of nuclear material or equipment. Such measures involve the application of tamper-indicating or surveillance devices. Surveillance refers to both human and instrumental observation aimed at indicating the movement of nuclear material. The verification process consists of three over-lapping elements: (a) Provision by the State of information such as - design information describing nuclear installations; - accounting reports listing nuclear material inventories, receipts and shipments; - documents amplifying and clarifying reports, as applicable; - notification of international transfers of nuclear material. (b) Collection by the IAEA of information through inspection activities such as - verification of design information - examination of records and repo ts - measurement of nuclear material - examination of containment and surveillance measures - follow-up activities in case of unusual findings. (c) Evaluation of the information provided by the State and of that collected by inspectors to determine the completeness, accuracy and validity of the information provided by the State and to resolve any anomalies and discrepancies. To design an effective verification system, one must identify possible ways and means by which nuclear material could be diverted from peaceful uses, including means to conceal such diversions. These theoretical ways and means, which have become known as diversion strategies, are used as one of the basic inputs for the development of safeguards procedures, equipment and instrumentation. For analysis of implementation strategy purposes, it is assumed that non-compliance cannot be excluded a priori and that consequently there is a low but non-zero probability that a diversion could be attempted in all safeguards ituations. An important element of diversion strategies is the identification of various possible diversion paths; the amount, type and location of nuclear material involved, the physical route and conversion of the material that may take place, rate of removal and concealment methods, as appropriate. With regard to the physical route and conversion of nuclear material the following main categories may be considered: - unreported removal of nuclear material from an installation or during transit - unreported introduction of nuclear material into an installation - unreported transfer of nuclear material from one material balance area to another - unreported production of nuclear material, e. g. enrichment of uranium or production of plutonium - undeclared uses of the material within the installation. With respect to the amount of nuclear material that might be diverted in a given time (the diversion rate), the continuum between the following two limiting cases is cons dered: - one significant quantity or more in a short time, often known as abrupt diversion; and - one significant quantity or more per year, for example, by accumulation of smaller amounts each time to add up to a significant quantity over a period of one year, often called protracted diversion. Concealment methods may include: - restriction of access of inspectors - falsification of records, reports and other material balance areas - replacement of nuclear material, e. g. use of dummy objects - falsification of measurements or of their evaluation - interference with IAEA installed equipment.As a result of diversion and its concealment or other actions, anomalies will occur. All reasonable diversion routes, scenarios/strategies and concealment methods have to be taken into account in designing safeguards implementation strategies so as to provide sufficient opportunities for the IAEA to observe such anomalies. The safeguards approach for each facility will make a different use of these procedures, equipment and instrumentation according to the various diversion strategies which could be applicable to that facility and according to the detection and inspection goals which are applied. Postulated pathways sets of scenarios comprise those elements of diversion strategies which might be carried out at a facility or across a State's fuel cycle with declared or undeclared activities. All such factors, however, contain a degree of fuzziness that need a human judgment to make the ultimate conclusion that all material is being used for peaceful purposes. Safeguards has been traditionally based on verification of declared material and facilities using material accountancy as a fundamental measure. The strength of material accountancy is based on the fact that it allows to detect any diversion independent of the diversion route taken. Material accountancy detects a diversion after it actually happened and thus is powerless to physically prevent it and can only deter by the risk of early detection any contemplation by State authorities to carry out a diversion. Recently the IAEA has been faced with new challenges. To deal with these, various measures are being reconsidered to strengthen the safeguards system such as enhanced assessment of the completeness of the State's initial declaration of nuclear material and installations under its jurisdiction enhanced monitoring and analysis of open information and analysis of open information that may indicate inconsistencies with the State's safeguards obligations. Precise information vital for such enhanced assessments and analyses is normally not available or, if available, difficult and expensive collection of information would be necessary. Above all, realistic appraisal of truth needs sound human judgment.

• Journal of Intelligence and Information Systems
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• v.26 no.3
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• pp.51-69
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• 2020

Now, it is a stylized fact that a small number of technology firms such as Apple, Alphabet, Microsoft, Amazon, Facebook and a few others have become larger and dominant players in an industry. Coupled with the rise of these leading firms, we have also observed that a large number of young firms have become an acquisition target in their early IPO stages. This indeed results in a sharp decline in the number of new entries in public exchanges although a series of policy reforms have been promulgated to foster competition through an increase in new entries. Given the observed industry trend in recent decades, a number of studies have reported increased concentration in most developed countries. However, it is less understood as to what caused an increase in industry concentration. In this paper, we uncover the mechanisms by which industries have become concentrated over the last decades by tracing the changes in industry concentration associated with a firm's status change in its early IPO stages. To this end, we put emphasis on the case in which firms are acquired shortly after they went public. Especially, with the transition to digital-based economies, it is imperative for incumbent firms to adapt and keep pace with new ICT and related intelligent systems. For instance, after the acquisition of a young firm equipped with AI-based solutions, an incumbent firm may better respond to a change in customer taste and preference by integrating acquired AI solutions and analytics skills into multiple business processes. Accordingly, it is not unusual for young ICT firms become an attractive acquisition target. To examine the role of M&As involved with young firms in reshaping the level of industry concentration, we identify a firm's status in early post-IPO stages over the sample periods spanning from 1990 to 2016 as follows: i) being delisted, ii) being standalone firms and iii) being acquired. According to our analysis, firms that have conducted IPO since 2000s have been acquired by incumbent firms at a relatively quicker time than those that did IPO in previous generations. We also show a greater acquisition rate for IPO firms in the ICT sector compared with their counterparts in other sectors. Our results based on multinomial logit models suggest that a large number of IPO firms have been acquired in their early post-IPO lives despite their financial soundness. Specifically, we show that IPO firms are likely to be acquired rather than be delisted due to financial distress in early IPO stages when they are more profitable, more mature or less leveraged. For those IPO firms with venture capital backup have also become an acquisition target more frequently. As a larger number of firms are acquired shortly after their IPO, our results show increased concentration. While providing limited evidence on the impact of large incumbent firms in explaining the change in industry concentration, our results show that the large firms' effect on industry concentration are pronounced in the ICT sector. This result possibly captures the current trend that a few tech giants such as Alphabet, Apple and Facebook continue to increase their market share. In addition, compared with the acquisitions of non-ICT firms, the concentration impact of IPO firms in early stages becomes larger when ICT firms are acquired as a target. Our study makes new contributions. To our best knowledge, this is one of a few studies that link a firm's post-IPO status to associated changes in industry concentration. Although some studies have addressed concentration issues, their primary focus was on market power or proprietary software. Contrast to earlier studies, we are able to uncover the mechanism by which industries have become concentrated by placing emphasis on M&As involving young IPO firms. Interestingly, the concentration impact of IPO firm acquisitions are magnified when a large incumbent firms are involved as an acquirer. This leads us to infer the underlying reasons as to why industries have become more concentrated with a favor of large firms in recent decades. Overall, our study sheds new light on the literature by providing a plausible explanation as to why industries have become concentrated.

• Journal of Intelligence and Information Systems
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• v.19 no.2
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• pp.141-156
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• 2013

Researchers in welfare services of local government in Korea have rather been on isolated issues as disables, childcare, aging phenomenon, etc. (Kang, 2004; Jung et al., 2009). Lately, local officials, yet, realize that they need more comprehensive welfare services for all residents, not just for above-mentioned focused groups. Still cases dealt with focused group approach have been a main research stream due to various reason(Jung et al., 2009; Lee, 2009; Jang, 2011). Social Security Information System is an information system that comprehensively manages 292 welfare benefits provided by 17 ministries and 40 thousand welfare services provided by 230 local authorities in Korea. The purpose of the system is to improve efficiency of social welfare delivery process. The study of local government expenditure has been on the rise over the last few decades after the restarting the local autonomy, but these studies have limitations on data collection. Measurement of a local government's welfare efforts(spending) has been primarily on expenditures or budget for an individual, set aside for welfare. This practice of using monetary value for an individual as a "proxy value" for welfare effort(spending) is based on the assumption that expenditure is directly linked to welfare efforts(Lee et al., 2007). This expenditure/budget approach commonly uses total welfare amount or percentage figure as dependent variables (Wildavsky, 1985; Lee et al., 2007; Kang, 2000). However, current practice of using actual amount being used or percentage figure as a dependent variable may have some limitation; since budget or expenditure is greatly influenced by the total budget of a local government, relying on such monetary value may create inflate or deflate the true "welfare effort" (Jang, 2012). In addition, government budget usually contain a large amount of administrative cost, i.e., salary, for local officials, which is highly unrelated to the actual welfare expenditure (Jang, 2011). This paper used local government welfare service data from the detailed data sets linked to the Social Security Information System. The purpose of this paper is to analyze the factors that affect social welfare spending of 230 local authorities in 2012. The paper applied multiple regression based model to analyze the pooled financial data from the system. Based on the regression analysis, the following factors affecting self-funded welfare spending were identified. In our research model, we use the welfare budget/total budget(%) of a local government as a true measurement for a local government's welfare effort(spending). Doing so, we exclude central government subsidies or support being used for local welfare service. It is because central government welfare support does not truly reflect the welfare efforts(spending) of a local. The dependent variable of this paper is the volume of the welfare spending and the independent variables of the model are comprised of three categories, in terms of socio-demographic perspectives, the local economy and the financial capacity of local government. This paper categorized local authorities into 3 groups, districts, and cities and suburb areas. The model used a dummy variable as the control variable (local political factor). This paper demonstrated that the volume of the welfare spending for the welfare services is commonly influenced by the ratio of welfare budget to total local budget, the population of infants, self-reliance ratio and the level of unemployment factor. Interestingly, the influential factors are different by the size of local government. Analysis of determinants of local government self-welfare spending, we found a significant effect of local Gov. Finance characteristic in degree of the local government's financial independence, financial independence rate, rate of social welfare budget, and regional economic in opening-to-application ratio, and sociology of population in rate of infants. The result means that local authorities should have differentiated welfare strategies according to their conditions and circumstances. There is a meaning that this paper has successfully proven the significant factors influencing welfare spending of local government in Korea.