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CHEMOPREVENTION OF COLON CANCER BY THE KOREAN FOOD STUFFS COMPONENTS

  • Kim, Dae-Joong;Shin, Dong-Hwan;Ahn, Byeong-Woo;Jang, Dong-Deuk;Hiroyuki Tsuda;Shoji Fukushima
    • Proceedings of the Korean Society of Toxicology Conference
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    • 2002.05b
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    • pp.106.2-132
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    • 2002
  • 형질전환 (유전자 결핍; Knockout) Min 마우스를 이용하여 대장암 발생에서 배추, 양배추 주성분인 indole-3-carbinol (I3C)의 대장암 예방효과를 규명하고자 하였다. 실험동물로는 C57BL/6J-Apc$^{min/+}$(Min 마우스)계의 5내지 6주령의 수컷 이형접합체 형질전환 마우스 70마리와 C57BL/6J계의 동일 산자, 동일 주령의 수컷 wildtype 비형질전환 마우스 10kfl를 The Jackson Laboratory 사 (Bar harber, ME, USA)로부터 직접 구입하였다. C57BL/6J-Apc$^{min/+}$계 수컷 이형접합체 형질전환 (Min)마우스 70마리를 각 군 20내지 25마리씩 세군으로 나누었다. Group 1에는 20마리, Group 2에는 25마리, Group 3에는 25마리를 배치하고, I3C 투여 실험군 (Group 1과 2)에는 실험시작시에 AIN-76A 분말사료에 I3C가 각각 100 및 300ppm이 함유되도록 조제하여 공급하였다. 그리고 실험군(Group 3)에는 실험시작부터 종료시까지 AIN-76A 정제고형사료(Teklad사, WI, USA)를 자유로이 급이하였다. 각군간의 체중, 사료 및 음수소비량을 매 2주마다 측정하였고, 10주간 (16주령)의 실험종료시에는 최종체중과 간장, 신장, 비장 등의 장기무게를 측정하여 상대장기 무게비를 산출하였다. 대조군으로서 C57BL/6J계의 동일 산자, 동일 주령의 수컷 wildtype 비형질전환 마우스 10마리는 같은 조건의 사육실에서 AIN-76A 정제고형사료를 33주간 자유로이 급이하였다. 실험동물은 부검전에 하룻밤 동안 절식하고 이산화탄소 흡입 마취하에서 흉대동맥을 절단하여 방혈하고 각 장기(심장, 폐, 위)를 적출하여 생리심염수에 넣어 장기무게를 측정하고 포르말린에 고정하였다. 소장과 대장의 검사를 위하여 위의 식도부위와 직장을 실로 결찰하여 적출하고 생리심염수를 주입하여 팽창시켜, 십이지장, 공장, 및 회장, 그리고 대장으로 나누어 여과지에 펼친 후 포르말린에 고정하였다. 소장과 대장은 육안 및 자동 영상분석길ㄹ 이용한 분석이 끝난 후에 각 부위별로 4-6개의 절편을 작제하여 포르말린에 재고정하고, 통상적인 조직처리과정, 파리핀 포매 및 3-4$\mu$m 두께의 조직절편을 제작하여 H&E 염색을 실시하여 현미경으로 검경하였다. 약 1주일간의 포르말린 고정이 끝난 소장 및 대장을 부위별, 별 종양개수 및 분포를 자동영상분석기(Kontron Co. Ltd., Germany)로 분석하였다. 체의 변화, 장기무게, 사료소비량 및 마리당 종양의 개수에 대한 통계학적 유의성 검증을 위하여 Duncan's t-test로 통계처리 하였고, 종양 발생빈도에 대하여는 Likelihood ration Chi-square test로 유의성을 검증하였다. C57BL/6J-Apc$^{min/+}$계 수컷 이형접합체 형질전환 마우스에 AIN-76A 정제사료만을 투여한 대조군의 대장선종의 발생률은 84%(Group 3; 21/25례)로써 I3C 100ppm 및 300ppm을 투여한 경우에 있어서는 각군 모두 60%(Group 1; 12/20 례, Group 2; 15/25 례)로 감소하는 경향을 나타내었다. 대장선종의 마리당 발생개수에 있어서는 C57BL/6J-Apc$^{min/+}$계 수컷 이형접합체 형질전환 마우스에 AIN-76A 정제사료만을 투여한 대조군은 1.40$\pm$0.24(100%)에 비하여 I3C 저농도 투여 실험군(Group 1; 0.85$\pm$0.23; 61%, P<0.01), 그리고 I3C 고농도 투여 실험군(Group 2 ; 1.32$\pm$0.29 ; 94%)의 순으로 감소하였다. 선종의 크기별 종양의 발생개수의 분포에 있어서 I3C 저농도 투여 실험군에 있어서는 선종의 크기가 3mm이하의 수가 현저하게 감소하였다. C57BL/6J-Apc$^{min/+}$계 수컷 이형접합체 형질전환 마우스에 AIN-76A 정제사료만을 투여한 대조군의 부위별 소장선종의 발생수는 십이지장부위를 제외하고 각 군에서 유의한 변화는 관찰되지 않았다. 십이지장 종양의 발생개수에서만 I3C 저농도 투여 실험군(Group 1 ; 3.11$\pm$0.85)이 대조군 (Group 3: 1.48$\pm$0.35) 및 I3C 고농도 투여 실험군(Group 2: 1.56$\pm$0.47)에 비하여 유의성 있게 증가하였다. (P<0.05). 따라서 I3C은 소장에서는 암예방 효과가 뚜렷하지 않으나, 대장에 대한 암에방 효과가 있을 것으로 생각된다. 소장 및 대장을 제외한 간장, 신장, 비장, 심장, 폐 그리고 위 등의 기타 장기에서의 조직병리학적 변화는 관찰되지 않았다. 소장 및 대장의 종양은 선종(polyps)으로 관찰되었다. 지난 10여년간 형질전환 및 유전자 결핍 실험동물의 종류가 기하 급수적으로 증가하여 이용되고 있다. 가족성 대장 선종성 용종증(FAP)의 대표적인 모델로 이용되고 있는 C57BL/6J-Apc$^{min/+}$계 수컷 이형접합체 형질전환 마우스를 사용하여 배추나 양배추의 주요성분인 Indole-3-carbinol(I3C)의 대장암 예방효과가 있는지를 검색하여 본 결과 AIN-76A정제사료만을 투여한 대조군의 대장선종의 발생률 84%에 비하여 I3C 100 및 300ppm을 투여한 실험군에 있어서 각군 모두 60%로서 감소하는 경향을 나타내었으며, 대장선종의 마리당 발생개수에 있어서는 대조군의 1.40$\pm$1.041를 100%로 환산하였을 경우 I3C 저농도 및 고농도 투여 실험군에서는 각각 약 61%와 94%를 나타내여 감소하였다. 특히 대장선종의 크기별 분포에 있어서 선종의 크기가 3mm이하의 수가 현저하게 감소하였다. 따라서 저농도 I3C의 투여는 실험적 유전성 가족성 대장 선종성 용종증 모델에 있어서 어느정도 암 예방효과가 있는 것으로 생각된다. 그러나 소장 선종의 발생에는 별 영향이 없는 것으로 생각된다. 그러나 본 실험에 사용된 C57BL/6J-Apc$^{min/+}$계 수컷 이형접합체 형질전환 마우스는 실험개시 시점이 7내지 8주령이 경과하여 이미 태생기부터 소장 및 대장의 선종 발생이 진행되어 온 것을 감안하고 특히 비스테로이드계 항염증 소염제(NSAIDS)와 같은 강력한 COX-2억제제가 아님을 고려하면, 상당한 선종의 발생을 억제할 수 있는 가능성이 매우 높다고 생각한다. 또한 이제까지 배추나 양배추 성분의 복합성분들에 대한 실험적 대장암 모델에서의 촉진효과 등에 대한 보고들이 있어 온 점을 고려할 때 위암(Kim 등, 1994) 간암(Kim 등, 1994), 유방암(Grubbs, 등, 1995; Bradlow 등, 1995)에 대한 예방효과가 있을 것으로 생각된다. 앞으로 이러한 종양조직내에서의 COX-2 및 iNOS mRNA와 단백질의 발현정도를 분자병리학적으로 연구중에 있으며, 향후 십자화과식물 성분인 indole-3-carbinol이 마우스뿐 만 아니라 랫드의 화학발암물질에 의한 대장종양에 대한 억제효과 있는지 연구 필요가 있다. Min 마우스와 같은 형질 전환(유전자결핍;knockout) 실험동물을 이용한 새로운 중기 발암성 시험범의 확립을 통한 각종 환경 유해물질의 발암성 유무 및 COX-2 억제작용이 있는 식품인자의 암예방 후보물질을 체계적으로 검색하는데 유용하게 활용될 수 있을 것으로 생각한다.

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The Respiratory and Hemodynamic Effects of Prone Position According to the Level of PEEP in a Dog Acute Lung Injury Model (잡종견 급성폐손상 모델에서 Prone position 시행시 PEEP 수준에 따른 호흡 및 혈류역학적 효과)

  • Lim, Chae-Man;Chin, Jae-Yong;Koh, Youn-Suck;Shim, Tae-Sun;Lee, Sang-Do;Kim, Woo-Sung;Kim, Dong-Soon;Kim, Won-Dong
    • Tuberculosis and Respiratory Diseases
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    • v.45 no.1
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    • pp.140-152
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    • 1998
  • Background: Prone position improves oxygenation in patients with ARDS probably by reducing shunt Reduction of shunt in prone position is thought to be effected by lowering of the critical opening pressure (COP) of the dorsal lung because the pleural pressure becomes less positive in prone position compared to supine position. It can then be assumed that prone position would bring about greater improvement in oxygenation when PEEP applied in supine position is just beneath COP than when PEEP is above COP. Hemodynamically, prone position is expected to attenuate the lifting of cardiac fossa induced by PEEP. Based on these backgrounds, we investigated whether the effect of prone position on oxygenation differs in magnitude according to the level of PEEP applied in supine position, and whether impaired cardiac output in supine position by PEEP can be restored in prone position. Methods: In seven mongrel dogs, $PaO_2/F_1O_2$(P/F) was measured in supine position and at prone position 30 min. Cardiac output (CO), stroke volume (SV), pulse rate (PR), and pulmonary artery occlusion pressure (PAOP) were measured in supine position, at prone position 5 min, and at prone position 30 min. After ARDS was established with warmed saline lavage(P/F ratio $134{\pm}72$ mm Hg), inflection point was measured by constant flow method($6.6{\pm}1.4cm$ $H_2O$), and the above variables were measured in supine and prone positions under the application of Low PEEP($5.0{\pm}1.2cm$ $H_2O$), and Optimal PEEP($9.0{\pm}1.2cm$ $H_2O$)(2 cm $H_2O$ below and above the inflection point, respectively) consecutively. Results : P/F ratio in supine position was $195{\pm}112$ mm Hg at Low PEEP and $466{\pm}63$ mm Hg at Optimal PEEP(p=0.003). Net increase of P/F ratio at prone position 30 min, however, was far greater at Low PEEP($205{\pm}90$ mm Hg) than at Optimal PEEP($33{\pm}33$ mm Hg)(p=0.009). Compared to CO in supine position at Optimal PEEP($2.4{\pm}0.5$ L/min), CO in prone improved to $3.4{\pm}0.6$ L/min at prone position 5 min (p=0.0180) and $3.6{\pm}0.7$ L/min at prone position 30 min (p=0.0180). Improvement in CO was attributable to the increase in SV: $14{\pm}2$ ml in supine position, $20{\pm}2$ ml at prone position 5 min (p=0.0180), and $21{\pm}2$ ml at prone position 30 min (p=0.0180), but not to change in PR or PAOP. When the dogs were turned to supine position again, MAP ($92{\pm}23$ mm Hg, p=0.009), CO ($2.4{\pm}0.5$ L/min, p=0.0277) and SV ($14{\pm}1$ ml, p=0.0277) were all decreased compared to prone position 30 min. Conclusion: Prone position in a dog with saline-lavaged acute lung injury appeared to augment the effect of relatively low PEEP on oxygenation, and also attenuate the adverse hemodynamic effect of relatively high PEEP. These findings suggest that a PEEP lower than Optimal PEEP can be adopted in prone position to achieve the goal of alveolar recruitment in ARDS avoiding the hemodynamic complications of a higher PEEP at the same time.

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A Study on the Historical Development of Research Community in Korea: Focused on the Government Supported Institutes (연구자 집단의 성장과 변천: 정부 출연 연구 기관을 중심으로)

  • Park Jin-Hee
    • Journal of Science and Technology Studies
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    • v.6 no.1 s.11
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    • pp.119-152
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    • 2006
  • This paper deals with the historical development of research community in Korea. As the former studies of the korean scientific community show, the government supported institutes played an important role in the formation of research community. Therefore the theme of this study is concerned with the historical development of the government supported institutes and the features of their researcher group. In this paper following questions will be answered: How the social status of these researcher group is changed, what kind of response on social problems or national politics they had, and which characteristic they showed with regards to the identity problem. After the korean liberation the government institutes, such as the Chungang Kongop Yonguso(industrial research center)and the Korean Atomic Energy Research Institute, contributed to the development of the first generation of research group. However this research group could hardly identify themselves as researcher, because they spent much time on testing, evaluation or education. The identity problem is also resulted from the deficiency of authority as research institute. The status of researcher had no difference from that of civil servant. With the establishment of KIST the korean research community came into blossom. The government supported institutes, which were founded after the model of KIST, allowed quantitative and qualitative growth of research community. Thanks to the guarantee of institutional authority and the new reward system, the researcher could get respect and improve its social status. During this period the researcher volunteered to help the government policies. We can find often the nationalistic statements in the research community. During 1990s the research group demonstrated different behaviors and attitude toward the government. The nationalistic ideology disappeared. Instead of that, the research group criticized the government policies and took actions against the government. Those changes are related with the lowered position of government supported institutes.

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Construction of Genetic Linkage Map using Microsatellite and SNP Markers in Korean Native Chicken (Microsatellite와 SNP Marker를 이용한 한국재래닭의 유전적 연관지도 작성)

  • Seo, Dong Won;Park, Hee Bok;Choi, Nu Ri;Jin, Shil;Yoo, Chae Kyoung;Sultana, Hasina;Heo, Kang Nyeong;Jo, Cheorun;Lee, Jun Heon
    • Korean Journal of Poultry Science
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    • v.42 no.1
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    • pp.77-86
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    • 2015
  • Chicken is one of the major livestock, especially for supplying proteins to human. The chicken genome size is approximately one-third compared with that of the human genome and regarded as a valuable model animal for genetics and development biology. In this study, we constructed the genetic linkage map for Korean native chicken (KNC) using 131 microsatellite (MS) and 8 single nucleotide polymorphism (SNP) markers. As a result, the total map length was calculated as 2729.4 cM and the average genetic distance between markers was 19.64 cM. The marker orders and genetic distances were well matched with the consensus linkage map except for the physical order of ADL0278 and MCW0351 in GGA8. In addition, the recombination rates in marcrochromosomes were 3.7 times higher than that of microchromosomes. The average numbers of alleles, expected heterozygosity (Hexp) and polymorphic information content (PIC) values were calculated as 5.5, 0.63 and 0.58, respectively. These results will give useful information for the understanding of genetic structure and QTL studies in KNC.

Development of $^{166}Ho$-Stent for the Treatment of Esophageal Cancer (식도암 치료용 $^{166}Ho$-Stent 개발)

  • Park, Kyung-Bae;Kim, Young-Mi;Kim, Kyung-Hwa;Shin, Byung-Chul;Park, Woong-Woo;Han, Kwang-Hee;Chung, Young-Ju;Choi, Sang-Mu;Lee, Jong-Doo
    • The Korean Journal of Nuclear Medicine
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    • v.34 no.1
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    • pp.62-73
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    • 2000
  • Purpose: Esophageal cancer patients have a difficulty in the intake of meals through the blocked esophageal lumen, which is caused by an ingrowth of cancer cells and largely influences on the prognosis. It is reported that esophageal cancer has a very low survival rate due to the lack of nourishment and immunity as the result of this. In this study a new radioactive stent, which prevents tumor ingrowth and restenosis by additional radiation treatment, has been developed. Materials and Methods: Using ${\ulcorner}HANARO{\lrcorner}$ research reactor, the radioactive stent assembly ($^{166}Ho$-SA) was prepared by covering the metallic stent with a radioactive sleeve by means of a post-irradiation and pre-irradiation methods. Results: Scanning electron microscopy and autoradiography exhibited that the distribution of $^{165/166}Ho\;(NO_3)$ compounds in polyurethane matrix was homogeneous. A geometrical model of the esophagus considering its structural properties, was developed for the computer simulation of energy deposition to the esophageal wall. The dose distributions of $^{166}Ho$-stent were calculated by means of the EGS4 code system. The sources are considered to be distributed uniformly on the surface in the form of a cylinder with a diameter of 20 mm and length of 40 mm. As an animal experiment, when radioactive stent developed in this study was inserted into the esophagus of a Mongrel dog, tissue destruction and widening of the esophageal lumen were observed. Conclusion: We have developed a new radioactive stent comprising of a radioactive tubular sleeve covering the metallic stent, which emits homogeneous radiation. If it is inserted into the blocked or narrowed lumen, it can lead to local destruction of the tumor due to irradiation effect with dilatation resulting from self-expansion of the metallic property. Accordingly, it is expected that restenosis esophageal lumen by the continuous ingrowth and infiltration of cancer after insertion of our radioactive stent will be decreased remarkably.

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The Study on the Ultrastructure and Distribution of Dopaminergic Cells in the Brain of Mongolian Gerbil after Water Deprivation (절수에 의한 Mongolain gerbil 뇌 Dopamine성 면역반응세포의 분포와 미세구조의 변화에 관한 연구)

  • Song, Chi-Won;Lee, Kyoung-Youl;Park, Il-Kwon;Kwon, Hyo-Jung;Kim, Moo-Kang;Lee, Kang-Lee
    • Applied Microscopy
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    • v.30 no.2
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    • pp.193-204
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    • 2000
  • Nowadays, mongolian gerbil is widely utilized in the research of brain and water deprivation because of congenitally incomplete Willis' circle, audiogenic seizure in low noise, and special cholesterol metabolism without water absorption for a long time. In this study, we intended to identify the time lapse changes in the general morphoogy and ultrastructure of the catecholaminergic neurons of mongolian gerbil brain in after long-term water deprivation. Fifteen mongolian gerbils were divided into 3 groups (5, 10, and 20-day water deprivation groups), each with 5 mongolian gerbils. Additional 5 mongolian gerbils which received water without limitation were used as a control. The brain sections were immunostained using tyrosine hysroxylase (TH), $ dopamine-\beta-hydroxylase$ (DBH), and phenylethanolamine-N-methyltrasferase (PMNT) antibodies. And immunoreactive cells were observed by electromicroscopy for the ultrastructural changes . The TH-immunoreactive (TH-IR) nerve cells were observed in the para- and peri-ventricular nucleus of the 3 rd ventricle in the hypothalamus and the substantia nigra. The number of TH-IR neurons in these areas was decreased from the 5th day of the water deprivation to the 10 th day and reincreased until 20 th day water deprivation. The shape and density of the dopamine-secreting cells identified by immunohistochemistry showed changes in the continuous water deprivation. Electron microscopy revealed a round nucleus in the neurons of control group but 5-day water deprivation group showed a dense and irregularly shaped nucleus. Also in the 5-day water-deprived group, mitochondria was decreased in number and junctins were disappered. Endoplasmic reticulum, Golgi complex did not show changes after water-deprivation. In this results, we can conclude that dopamine are involved in the water metabolism in mongolian gerbil, and mongolian gerbil could be used as an animal model for the researches of water deprivation.

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Induction of Apoptosis and Antitumor Activity by Stichoposide D through the Generation of Ceramide in Human Leukemia Cells (Stichoposide D의 백혈병 세포주에서 세라마이드 생성을 통한 세포 사멸 유도 및 항암 작용)

  • Park, Eun-Seon;Yun, Seung-Hoon;Shin, Sung-Won;Kwak, Jong-Young;Park, Joo-In
    • Journal of Life Science
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    • v.22 no.6
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    • pp.760-771
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    • 2012
  • Marine triterpene glycosides are physiologically active natural compounds isolated from sea cucumbers(holothurians). It was demonstrated that they have a wide range of biological activities, including antifungal, cytotoxic, and antitumor effects. A previous study showed that stichoposide C (STC) isolated from Thelenota anax induces apoptosis through generation of ceramide by activation of acid sphingomyelinase (SMase) and neutral SMase in human leukemia cells. In this study, we investigated whether STD, a structural analog of STC, can induce apoptosis and examined the molecular mechanisms for its activity. It was found that STC and STD induce apoptosis in a dose- and time-dependent manner and lead to the activation of caspase-8, mitochondrial damage, activation of caspase-9, and activation of caspase-3 in K562 and HL-60 cells. STC activates acid SMase and neutral SMase, which results in the generation of ceramide. Specific inhibition of acid SMase or neutral SMase partially blocked STC-induced apoptosis, but not STD-induced apoptosis. In contrast, STD generates ceramide through the activation of ceramide synthase. Specific inhibition of ceramide synthase partially blocked STD-induced apoptosis, but not STC-induced apoptosis. Moreover, STC and STD markedly reduced tumor growth of HL-60 xenograft tumors and increased ceramide generation in vivo. These results indicate that STC and STD can induce apoptosis and have antitumor activity through the different molecular mechanisms, because they have a different sugar residue attached to aglycones. Thus, these results suggest that their actions are affected by a sugar residue attached to aglycones and they can be used as anticancer agents in the treatment of leukemia.

Effect of Thyroid Hormone on the Ischemia-Reperfusion Injury in the Canine Lung (갑상선 호르몬이 잡견 폐장의 허혈-재관류 손상에 미치는 영향)

  • 김영태;성숙환
    • Journal of Chest Surgery
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    • v.32 no.7
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    • pp.637-647
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    • 1999
  • Background: Ischemia-reperfusion injury is one of the major contributing causes of early graft failure in lung transplantation. It has been suggested that triiodothyronine (T3) may ameliorate ischemia-reperfusion injury to various organs in vivo and in vitro. Predicting its beneficial effect for ischemic lung injury, we set out to demonstrate it by administering T3 into the in situ canine ischemia-reperfusion model. Material and Method: Sixteen adult mongrel dogs were randomly allocated into group A and B. T3 $(3.6\mug/kg)$ was administered before the initiation of single lung ischemia in group B, whereas the same amount of saline was administered in group A. Ischemia was induced in the left lung by clamping the left hilum for 100 minutes. After reperfusion, various hemodynamic parameters and blood gases were analyzed for 4 hours while intermittently clamping the right hilum in order to allow observation of the injured left lung function. Result: Arterial oxygen partial pressure $(PaO_2)$ decreased 30 minutes after reperfusion and recovered gradually thereafter in both groups. In group B the decrease of $PaO_2$ was less marked than in group A. The recovery of $PaO_2$ was faster in group B than in group A. The differences between the two groups were statistically significant from 30 minutes after reperfusion $(125\pm34$ mmHg and $252\pm44$ mmHg, p<0.05) until the end of the experiment $(178\pm42$mmHg and $330\pm37$ mmHg, p<0.05). The differences in the arterial carbon dioxide pressure, airway pressure and lung compliance showed no statistical significance. The malondialdehyde (MDA) level, measured from the tissue obtained 240 minutes after reperfusion, was lower in group B $(0.40\pm0.04\mu$M) than in group A $(0.53\pm0.05\mu$M, p<0.05). The ATP level of group B $(0.69\pm0.07\mu$M/g) was significantly higher than that of group A $(0.48\pm0.07\mu$M/g, p<0.05). The microscopic exami nation revealed varying degrees of injury such as perivascular neutrophil infiltration, capillary hemorrhage and interstitial congestion. There were no differences in the microscopic findings between the two groups. CONCLUSION T3 has beneficial effects on the ischemic canine lung injury including preservation of oxygenation capacity, less production of lipid peroxidation products and a higher level of tissue ATP. These results suggest that T3 is effective in pulmonary allograft preservation.

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The Influence of Manager's Wealth on Adopting Anitakeover Measures (경영자의 부가 기업의 반인수조치 선택에 미치는 영향)

  • Choo, Hyun-Tai
    • The Korean Journal of Financial Management
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    • v.12 no.1
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    • pp.167-186
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    • 1995
  • 기업인수합병(M&A) 시장의 활성화에 따라 적대적 공개매수를 방어하기 위한 반인수조치(Antitakeover Techniques)들에 관한 관심도 고조되고 있다. 지금까지 널리 알려져 있는 대표적인 반인수 조치들은 Fair Price Amendment(FPA), Classified Board Amendment(CBA)와 Poison Pills(PP) 등이다. 이들 대표적 세 반인수조치들 중에서 FPA와 CBA 채택의 경우는 주주들의 사전 승인이 요구되는데 반하여 PP는 주주들의 사전 승인없이 채택이 가능한 반인수조치이다. 이처럼 상이한 반인수조치들의 채택은 채택기업의 가치에 상이한 부의 효과를 미치는데, 이 분야의 많은 실증적연구 결과들이 보고되고 있다. 본 연구에서는 표본기업으로 현재까지 상호개별적으로 연구되어 왔던 두가지 반인수조치(FTA, CBA)에 PP와 비채택기업도 포함시키고 있다. 지금까지의 반인수조치 채택에 따른 기업가치에 미치는 부의 효과에 관한 연구결과를 확인해보고, 반인수조치 채택에 관한 경영자의 의사결정과 경영자의 부 사이에 체계적인 관계가 존재하는지를 실증분석하고자 한다. 여기서 경영자의 부는 기업내부자 지분율과 기업내 경영자를 위한 Golden Parachute의 존재 유무로 측정한다. 본 연구에서는 3개의 가설을 설정하였다. 가설1: 만일 경영자가 주주의 이익을 희생하면서 자신의 이익을 위한 반인수조치를 채택한다면, 반인수조치 채택의 공표는 평균적으로 기업가치에 부(-)의 효과를 보일 것이다. 가설2: 경영자의 내부지분율이 낮을때 경영자들은 주주에게 가장 해로운 반인수조치를 선택할 것이다. 가설3: Golden Parachute가 존재하지 않을때 경영자들은 주주에게 가장 해로운 반인수조치를 채택할 것이다. 본 연구의 대상기업들중에서 반인수조치 채택 기업들은 IRRC 1990년도판에서 수집되었고, 대칭표본 기업으로 반인수조치를 채택하지 않은 기업들은 CRSP 파일에서 기업규모, SIC 코드를 대응시켜 선정하였다. 임원, 관계이사들과 친인척을 포함하는 내부자의 지분과 Golden Parachute 존재 여부는 이 연구의 표본기업들의 Proxy Statement에서 수집하였다. 최종 표본기업은 FPA 채택기업, CBA 채택기업, PP채택기업, 그리고 비채택기업으로 4개의 상호 배타적인 기업 그룹으로 구성되었다. 본 연구는 Event Study와 Multinomial Logistic Regession의 두가지 실증분석 방법을 사용하였다. Event Study방법론은 반인수조치 채택 공표시 초과수익률을 조사하기 위해 사용하였다. Multinomial Logistic Regession은 선택된 반인수조치 종류와 설명 변수들(내부자 지분율, Golden Parachute)간에 체계적인 관계가 존재하는지를 검증하기 위해 사용되었다. 반인수조치들을 채택하는 기업들은 반인수조치를 채택하고 있지 않은 기업들에 비해 내부자 지분율이 낮게 나타났으며, 반인수조치 중 PP를 채택한 기업에서 가장 낮은 내부지분율을 보이고 있다. GP 채택을 보면 PP를 선택한 기업의 50%가 GP를 채택하였다. 본 연구에서 반인수조치 채택 발표일 하루 전후의 초과수익률을 조사한 결과는 반인수조치 미채택기업, CBA, FPA 채택기업들의 초과수익률은 통계적으로 의미가 없었으나, PP채택에 따른 초과수익률은 의미 있는 부(-)의 값을 나타냈다. 이와같이 CBA와 FPA채택기업들은 주주의 부를 감소시키지 않았으나 PP채택기업들은 주주의 부를 감소시켰다. 따라서 경영자는 주주의 이익을 희생시키면서 자신의 이익을 위해 PP를 선택하고 있음을 보여 주고 있다. 연구결과는 내부자 지분율의 크기가 경영자와 주주간의 이해를 효과적으로 일치시키고 있음을 제시하고 있다. 즉, 내부자 지분율이 큰 기업일수록 반인수조치를 채택하지 않거나 반인수조치 채택시에 주주의 이익에 반하지 않은 반인수조치를 선택하는 경향이 높다. Golden Parachute이 존재하는 기업은 FPA를 채택하거나 반인수조치를 채택하지 않는 것보다 PP나 CBA를 채택하는 경향이 더 높다. 한편 기업에서의 GP의 존재가 경영자의 가장 해로운 반인수조치 선택을 억제하지 못함을 보여주고 있는데, 이는 GP가 비효과적인 계약메카니즘임을 제기한다. GP가 경영자와 주주간의 이해를 일치시키도록하는 계약이라기 보다는 차라리 기업방어전략이 비효과적일때 경영자 자신의 안전판으로 제공되고 있음을 보여준다. 이 논문의 주요공헌은 기업내부자 지분율의 크기와 GP의 존재가 반인수조치 선택에 체계적인 영향을 미치고 있음을 보여준 것이다. 여기서 사용된 Multinomial Logistic모델은 내부지분을 크기와 GP의 존재가 PP또는 CBA가 채택될 것인지를 예측할 수 있게 한다.

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Effect of Recovery of Pulmonarv Function in Hypothermic Lung Preservation (폐의 저량보존법이 폐기능 회복에 미치는 영향)

  • Lee, Man-Bok;Kim, U-Jong;Gang, Chang-Hui;Lee, Gil-No
    • Journal of Chest Surgery
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    • v.30 no.3
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    • pp.253.1-262
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    • 1997
  • Hypothermia during lung preservation decreases metabolic processes. After the rabbit lung was flushed with modified Euro-Collins solution, heart-lung block was harvested and the left lung was assessed after ligation of the right pulmonary artery and right main-stem bronchus. Heart-lung block was immersed in the same solution for 6 hours. The modified Euro-Collins solution and storage temperature of group 1(10 cases) was 4t, roup 2(10 cases) was l$0^{\circ}C$. On completion of the storage period, the left lung was ventilated and reperfused with blood u:high used a cross-circulating paracorporeal rabbit as a "biologic deoxygenator" for 60 minutes. Pulmonary artery pressure, airway pressure, difference in oxygen tension between mow and outflow perfusate and degree of pulmonary edema were assessed at 10-minute intervals while the left lung was ventilated at 0.8 of the inspired oxygen fraction. The mean pulmonary venous oxygen tensions at 10 and 60 minutes after reperfusion were 209.52$\pm$42.46 and 103.48$\pm$ 15.96 mmHg in group I versus 247.78$\pm$36.19 and 147.91 $\pm$ 11.07 mmHg in group II(p=0.049, (0.0001). The mean alveolar-arterial oxygen differences at 20 and 60 minutes after reperfusion were 357. 95$\pm$ 12.84 and 437.31 14.26 mmHg in group I versus 310.88$\pm$3).47 and )90.93$\pm$ 15.86 mmHg in group II (p=0.0092, (0.0001). The mean pulmonary arterial pressures at 10 and 60 minutes after reperfusion were 40.56$\pm$ 18.66 and 87. 2$\pm$ 17.22 mmHg in group I versus 31.22$\pm$6.84 and 65.78$\pm$ 11.02 mmHg in group rl (p : 0.048, 0.0062). The mean pulmonary vascular resistances at 10 and 60 minutes after reperfusion were 2.69$\pm$0.85 and 4.36$\pm$0.86 mmHg/ml/min in group I versus 1.99$\pm$0.39 and 3.29$\pm$0.55 mmHg/ml/min in group II(p : 0.0323, 0.0062). There were no difference between groups in peak airway pressure, lung compliance and degree of pulmonary edema. In conclusion that preservation of lung at l$0^{\circ}C$ was superior to preservation at 4$^{\circ}C$.}C$.

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