• Journal of the Korea Academia-Industrial cooperation Society
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• v.11 no.1
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• pp.257-263
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• 2010

We studied about the difference of division public announcements by corporation size and ownership structure from 1999 to 2005. The results is as follow : First, we found most positive numbers in division corporation's CAR. This supports the existing research that corporation division is evaluated positively in the market. We found CAR as largest shareholders' holding more than 40%, which is greater than 0-20% & 20-40%, that shows relatively more negative CAR. So, the exceeded largest shareholders' holding rate (i.e., over 40%) can be a factor for decreasing corporations' value. Also, most positive CAR shows relatively small variation regarding corporation size knowing that big sized corporations have relatively small variation than small sized corporations. Second, we studied about relationship between corporate ownership structure and division public effects and found relatively a little effect by large shareholders, foreign investors' holding variables on division public.

• The Korean Journal of Financial Management
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• v.20 no.1
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• pp.61-92
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• 2003

As an extension of previous researches with the conclusion that the announcement of adopting stock options generates positive abnormal returns, this paper examined whether the abnormal return changes over time or varies depending on the number of stock options granted. Empirical analysis was made to find whether the announcement of stock option awards has the same response in the stock market from the early days when stock option plans had been introduced in the Korean stock market till today when it was widespread. Results indicate that the announcement effect had been on a gradual decline since 2000. In addition, it is found that if a company announces stock option awards several times, the abnormal return gradually declines in proportion of the number of stock options granted. This implies that as the stock option awards become widespread, the positive effect that the announcement of adopting stock options generates as news has been on a relatively steady decrease. In short, it leads to a conclusion that the more companies grant stock options, and the more stock options a company announces, the less impact it has on the increase in the firm's value.

• Korean Journal of Agricultural Science
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• v.7 no.2
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• pp.176-181
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• 1980

As a part of experiments aimed to reduce the acidic taste of a soured fruit wine, a selected yeast strain was studied on its morphological and physiological properties as well as its fermentative characteristics of apple wine. The results obtained were as follows. 1. The selected yeast strain was identified as a strain of Schizosaccharomyces pombe. 2. The tolerance of the strain to metabisulfite in apple juice was stronger than that of wine yeast. 3. The growth rate of the strain was more rapid than those of wine yeast and Sake yeast when cultured in apple juice at $25^{\circ}C$, but it was decreased below the levels of others when cultured at $15^{\circ}C$. 4. The levels of ethanol production and acid reduction by the strain were high when the apple wine brewed at $25^{\circ}C$, while these were dropped significantly at $15^{\circ}C$.

• The Korean Journal of Financial Management
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• v.25 no.1
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• pp.141-176
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• 2008

This study provides an analysis of ex post efficient outcome, which can be said an objective of distressed restructurings, using the stock return of listed companies. The findings of this study are as follows: First, upon completing the distressed restructurings, reorganization and workout cases showed positive announcement effects, which was statistically significant. Also, composition cases displayed a positive value, but it was not statistically significant. Second, with respect to post-restructuring long-run stock performance, reorganization and composition showed underperformance after completion. However, workout cases showed overperformance after the completion. Third, multiple regression analysis to find factors affecting post-restructuring long-run stock performance suggests that higher asset decrease(ASSETCH), shareholder concentration (OWNCEN), largest shareholders' stake(OWN) have more positive impacts on long-run performance. However, change of the largest shareholder(OWNERCH) has negative impacts on long-run performance. Finally, change of the largest shareholder is a negative factor in the performance of the distressed restructurings. Therefore, this study implies that if M&A is used as a way of early completing the distressed restructurings, prudent judgment is required on whether a firm can recover its competitiveness and is likely to be economically viable again.

• Journal of the Korea Organic Resources Recycling Association
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• v.10 no.2
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• pp.140-146
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• 2002

본 시험은 채종유박과 미강유박을 주원료로 하고 질소, 인산, 칼리의 함량이 7.23%이고 중금속이 거의 없이 개발된 유기질비료(크럼블-80)를 공시비료로 기비와 추비시비 방식의 포장시험을 통하여 토양과 한국잔디의 생육에 미치는 영향과 시비효율을 구명하여 올바른 시비방법 및 시비량을 제시하고자 2000년 4월부터 12월까지 경기도 용인시 소재 태광컨트리클럽 증식포(기비시험)와 경기도 파주시 소재 서서울컨트리클럽 10홀 티(추비시험)에서 실시하였다. 기비시험 결과, 엽록소 측정결과의 처리효과는 무처리구가 100일 때 관행구 117%, 관행구+크럼블-80 $150g/m^2$ 123%, 크럼블-80 $150g/m^2$ 115%, 크럼블-80 $300g/m^2$ 119%, 크럼블-80 $75g/m^2$ 102%로 효과가 있는 것으로 나타났다. 유기질비료인 크럼블-80은 시비량에 따라 엽록소 함량이 약간 증가되었으나 NPK와 혼합처리구에서 가장 높은 것은 공시비료의 단독처리보다는 복합비료와 혼용하는 것이 더 효과적인 것으로 나타났다. 추비시험 결과, 잔디생육기간 중 잔디건물중을 조사한 결과는 크럼블-80의 시용량이 많을수록 잔디건물중도 증가하였으며, 처리구에 따라 무처리구보다 5~45(%) 정도의 증수효과가 있는 것으로 나타났다. 그러나 엽록소함량은 처리구가 무처리구보다는 높았으나 골프코스에 필요한 녹색유지에는 부족하므로 화학비료와의 혼용시비가 필요하다고 판단된다. 본 시험결과로 볼 때 시험에 사용된 공시비료는 골프코스 잔디관리에 적합한 비료로 판단된다. 시험결과를 토대로 한 권장시비량은 기비시비의 경우 잔디식재 전에 공시비료 $300g/m^2$를 표토 10cm와 잘 혼합하여 시비하되, 추비시비는 공시비료와 화학비료와의 혼용시비가 필요하다고 판단된다.

• Magazine of the Korea Concrete Institute
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• v.11 no.2
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• pp.157-165
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• 1999

When the ultimate strength of a concrete flexural member is evaluated, the effect of member size is usually not considered. For various types of loading, however, the strength always decreases with the increment of member size. In this paper the size effect of a flexural compression member is investigated by experiments. For this purpose, a series of C-shaped specimens subjected to axial compressive load and bending moment was tested using three different sizes of specimens with a compressive strength of 528 kg/$cm^2$. According to test results the size effect on flexural compressive strength was apparent, and more distinct than that for uniaxial compressive strength of cylinders. Finally a model equation was derived using regression analyses with experimental data.

• The Journal of the Korea Contents Association
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• v.18 no.7
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• pp.49-63
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• 2018

This study examines both the announcement effect of corporate real estate acquisitions and sales and long-term stock performance. Also, we analyze long-term stock returns on the basis of the amount and the purpose (business activities, financial activities, etc.) of real estate acquisitions and sales. The major findings are as follow. First, we find that there is no significant announcement effect on the real estate acquisitions. However, the announcement day of real estate sales shows significantly positive abnormal stock returns. Second, we find that both the real estate acquisitions and sales show negative long-term stock performance. We also find the same results from the case where we classify our sample on the basis of the amount and the purpose of real estate acquisitions and sales. Third, the amount of real estate acquisitions is significantly negatively related to long-term stock returns, whereas the relation between firm value and the amount of real estate sales is positive only under the business activities. Overall, long-term stock performance decreases after the announcement day of the real estate acquisitions and sales. This results can be explained by agency theory. Also, we conclude that a decline in stock performance after the real estate sales explain an information signal on financial distress.

• The Korean Journal of Financial Management
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• v.22 no.2
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• pp.107-133
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• 2005

The object of this study is to examine the informational effect of the rating change announcement on the capital market. For this study, daily stock prices from January 1993 to February 2001 and daily bond prices from July 2000 to February 2001, for the bond market are used. In the stock market, we could not observe any statistically significant stock price reaction to rate change announcements from July 2000 to February 2001. However, if rating agencies announce more than two degradation for the period of January 1993 to February 2001, statistically negative significant stock price reactions are observed. On the other hand, there is no statistically significant stock price reaction to any other rating change announcement. In the bond market, there is no statistically test on the bond price reaction, but the general directions of bond price movements are consistent with the effect we can expect from rating change announcements. Generally, when the rating agencies degraded more than two grades at once, a cumulative abnormal returns move negatively during the overall period. In this case, we can say that rating agencies' role is to confirm information or investor's expectations. However, for the other cases, we could not observe my significant movement before or on the event data.

• Korean Journal of Weed Science
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• v.9 no.2
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• pp.154-167
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• 1989

This study was conducted to determine the influence of various extracts from 21 medicinal plants including Bupleurm falcatum on the germination and growth of Lactuca sativa, Oryza native and E. crus-galli var. crus-galli, and the amount of their phenolic acids, fatty acids and organic acids, Water extract(5%) of all the medicinal plants, particularly Acorus gramineus, Cnidium officinale, Aconitum carmicheali, Bulpeurum falcatum, Zingiber officinale, Angelica gigas and Curcuma zeodaria inhibited over 90% of the lettuce seed germination and growth, indicating that medicinal plants contained the biologically active substances. The highest amount of phenolic compounds was observed in Prunus crmenica var, ansu(30.6013mg/g) followed by Aconitum ciliare(29.1008mg/g) and Cnidium officienale(27.2943mg/g) which inhibited markedly the germination of testing plants, showing the close relation of phenolic compounds to inhibitory effects. Cnidium officinale contained the highest amount of fatty acids(24.10mg/g) and organic acids(21.04mg/g) which may be partly related to inhibitory effects.

• Korean journal of applied entomology
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• v.8
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• pp.11-18
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• 1969

식물 생장 조절제로서 phthalamic acid와 그 유도체를 사용하여 추락답을 개량하기 위한 예비 시험을 실시하여 다음과 같을 결과를 얻었다. 1) 아래 7종의 phthalamic acid 및 그 유도체를 합성 또는 정제하여 공시약제로 하였으며 합성품의 수율은 $87-92\%$였다. (표 1) A. Phthalamic acid B. Phthalanilic acid C. N- (o-Chlorophenly)-phthalamic acid D. N-(p-Chlorophenyl)-phthalamic acid E. N- (3,4-Dichlorophenyl)-phthalamic acid F. Sodium-N- (m-tolyl)-phthalamate (Duraset) G. Sodium-N-(1-naphthyl)-phthalamate (Alanap) 2) Wheat straight growth test에서 공시약제는 10ppm 및 20ppm의 농도에서 Control보다 월등한 생장 촉진효과를 보였으며 특히 흥미있는 것은 phthalamic acid 유도체가 phthalamic acid 자체보다 더 좋은 효과를 보였다. (표4, 그림 1) 3) 수도 종자의 발아 시험 결과 초장은 phthalamic acid 유도체가 적시 phthalamic acid 자체보다 좋았으며 기중 Alanap. 3,4-dichlorophenyl phthalamic acid 및 Duraset가 가장 좋았으나 10-100ppm 범위내의 농도에 거의 영향없었다. (표 5) 근의 생육은 일반적으로 약제의 종류에 따라 상이할 뿐 아니라 초장의 생육보다 더욱 약제에 민감하였다. 근장은 phthalamic acid, phthalanilic acid, (p-chlorophenyl)phthalamic acid, 3,4-dichlorophenyl phthalamic acid가 Control 보다 약간 좋은 효과를 보였고, Alanap은 매우 불량하였다. (표 6) 근수는 (p-chlorohhenyl) phthalamic acid만 Control에 비해 우수하였고 나머지 약제는 대체로 근수를 감소시키거나 Control과 비슷한 효과를 보였다. (표 7) 또한 농도가 증가함에 따라 근수는 감소하였으며, Alanap, (o-chlorophenyl) phthalamic acid는 근단에 심한 약해가 일어났다. 4) 전근시험에서 근수는 공시약제에 의하여 증가되었으나 50-200ppm의 농도에서 별 영향이 없었다.(표 8, 그림 2) 근장은 농도가 증가함에 따라 감소되는 영향이었으나 공시약제에는 상이한 효과를 보였다. 5) 이상 결과에서 p-chlorophenyl phthalamic acid 및 3,4-dichlorophenyl phthalamic acid가 수도용 식물생장조절제로서 실용적 개발의 가능성을 보였다.