• Journal of the Korean Geographical Society
• /
• v.40
• /
• pp.1-13
• /
• 1989

The brightness temperature from NOAA AVHRR CH 4 images was examined for the metropolitan Seoul area, the capital city of Korea, to detect the characteristics of the urban heat island for this study. Surface data from 21 meteorological stations were compared with the brightness temperatures Through computer enhancement techniques, more than 20 heat islands could be recognized in South Korea, with 1 km spatii resolution at a scale of 1: 200, 00O(Fig. 3, 4 and 6). The result of the analysis of AVHRR CH 4 images over the metropolitan Seoul area can be summerized as follows (1) The pattern of brightness temperature distribution in the metropolitan Seoul area shows a relatively strong temperature contrast between urban and rural areas. There is some indication of the warm brightness temperature zone characterrizing built-up area including CBD, densely populated residential district and industrial zone. The cool brightness temperature is asociaed with the major hills such as Bukhan-san, Nam-san and Kwanak-san or with the major water bodies such as Han-gang, and reservoirs. Although the influence of the river and reservoirs is obvious in the brightness temperauture, that of small-scaled land use features such as parks in the cities is not features such as parks in the cities is not apperent. (2) One can find a linerar relationshop between the brightenss temperature and air temperature for 10 major cities, where the difference between two variables is larger in big cities. Though the coefficient value is 0.82, one can estimate that factors of the heat islands can not be explained only by the size of the cities. The magnitude of the horizontal brightness temperature differences between urban and rural area is found to be greater than that of horizontal air temperature difference in Korea. (3) Also one can find the high heat island intensity in some smaller cities such as Changwon(won(Tu-r=9.0$^{\circ}$C) and Po-hang(Tu-r==7.1$^{\circ}$~)T. he industrial location quotient of Chang-won is the second in the country and Po-hang the third. (4) A comparision of the enhanced thermal infrared imageries in 1986 and 1989, with the map at a scale of 1:200, 000 for the meotropolitan Seoul area showes the extent of possible urbanization changes. In the last three years, the heat islands have been extended in area. zone characterrizing built-up area including (5) Although the overall data base is small, the data in Fig. 3 suggest that brightness tempeautre could ge utilized for the study on the heat island characteristics. Satellite observations are required to study and monitor the impact of urban heat island on the climate and environment on global scale. This type of remote sensing provides a meams of monitoring the growth of urban and suburban aeas and its impact on the environment.

• Investigative Magnetic Resonance Imaging
• /
• v.2 no.1
• /
• pp.14-30
• /
• 1998

Manganese is an essential element in the body. It is mainly deposited in the liver and to a lesser degree in the basal ganglia of the brain and eliminated through the bile duct. Rapid turnover of managanese in the body makes it difficult to evaluate the manganese exposure in workers, esecially in those with irregular or intermittent exposure, like welders. Therefore, conventional biomarkers, including blood and urine manganese can provide only a limited information about the long-tern or cumulative exposure to manganese. Introduction of magnetic resonance imaging (MRI) made a progress in the assessment of manganese exposure in the medical conditions related to manganese accumulation, e. g. hepatic failure and long-term total parenteral nutrition. Manganese shortens spin-lattice(T1) relaxation time on MRI due to its paramagnetic property, resulting in high signal intensity (HSI) on T1-weighted image(T1W1) of MRI. Manganese deposition in the brain, therefore, can be visualizedas an HSI in the globus pallidus, the substantia nigra, the putamen and the pituitary. clinical and epidemiologic studies regarding the MRI findings in the cases of occupational and non-occupational manganese exposure were reviewed. relationships between HSI on T1W1 of MRI and age, gender, occupational manganese exposure, and neurological dysfunction were analysed. Relationships betwen biological exposure indices and HSI on MRE werealso reviewed. Literatures were reviewed to establish the relationships between HSI, Manganese deposition in the brain, pathologic findings, and neurological dysfunction. HSI on T1W1 of MRI reflects regional manganese deposition in the brain. This relationship enables an estimation of regional manganese deposition in the brain by analysing MR signal intensity. Manganese deposition in the brain can induce a neuronal loss in the basal ganglia but functional abnormality is supposed to be related to the cumulative exposure of manganese in the brain, use of brain MRI for the assessment of exposure in a group of workers seems to be hardly rationalized, while ti can be a useful adjunct for the evaluation of manganese exposure int he cases with suspected manganese-related health problems.

• The Korean Journal of Financial Management
• /
• v.21 no.2
• /
• pp.27-63
• /
• 2004

Since the 1980s, many multinational corporations have been issuing stocks on foreign stock exchanges, not only to enhance their investor base and liquidity, but also to diversify risks. The phenomenon has also been intensified by the rapid financial globalization and securitization trends. The main purpose of this study is to look into the long-run performance of MNCs' cross-listings of stocks on foreign stock exchanges. We use the event study and cross-sectional regression methods. We obtained some interesting empirical results about the long-run effect of cross-listings. First before the listing data the effect of cross-listing is to increase the underlying stock Vice in the local market. It may be caused by expectation of lower risk and cost of capital. However, after the listing data the stock price has been declining, even if it is not significant. Second, we examine the difference in the long-run cross-listing effect, which may be caused by the listing direction. When listing is made from a less developed market to a more developed market, the effect is better than that in the reverse direction. Furthermore, the effect is worse, when the listing company's home country is the U.S. Third, there is a negative relation between CARs and underlying stock liquidity in the local market, So it implies that a firm, whose underlying stocks are very liquid in the local market should carefully value cross-listing based upon the cost and benefit analysis. Last, but not the least we find that the long-un cross-listing effect is better, when a listing firm's ROE is higher.

• Journal of Korea Technology Innovation Society
• /
• v.12 no.4
• /
• pp.687-714
• /
• 2009

In this paper, we study empirically the relations between financial constraints and dividend adjustment speed of innovative small and medium sized enterprises (SMEs) listed on Kosdaq Market of Korea Exchange. The main results of this study can be summarized as follows. Determinants suggested by the major theories of dividends, namely, residual dividend theory, dividend signaling theory, agency theory, catering theory, and transactions cost theory explain significantly the dividend payout policy of Kosdaq SMEs. Lintner's dividend adjustment model indicates that Kosdaq SMEs have long run target payout ratio, and that Kosdaq SMEs adjust partially the gap between actual and target payout ratio each year. In the core variables of Lintner (1956) dividend adjustment model, past DPS has more effect than current EPS. These results suggest that Kosdaq SMEs maintain stable dividend policy which maintain past DPS level without corporate special reasons. Dividend adjustment speed of innovative Kosdaq SMEs is more fast than that of uninnovative Kosdaq SMEs, and dividend adjustment speed of financial unconstrained innovative Kosdaq SMEs is faster than that of financial constrained innovative Kosdaq SMEs. Futhermore, dividend adjustment speed of innovative Kosdaq SMEs classified by Small and Medium Business Administration is faster than that of unclassified innovative Kosdaq SMEs. The former is linked with financial policies and services like credit guaranteed service, venture investment fund, insurance program, and so on. In conclusion, past DPS and current EPS suggested by the Lintner's dividend adjustment model explain mainly dividend adjustment speed, and financial constraints explain also partially. Therefore, if managers of innovative Kosdaq SMEs can properly understand of the effects of financial constraints on dividend smoothing, they can maintain constantly dividend policy. This is encouraging result for Korea government as it has implemented many policies to commit to innovative Kosdaq SMEs.

• Journal of Korea Technology Innovation Society
• /
• v.14 no.2
• /
• pp.373-404
• /
• 2011

The purpose of research is to reveal the effect of innovation to enterprises' economic performance. The kind of this study has begun since 1960s and lively progressed then. The fmal theoretical result of the effect of innovation to the performance came positive in compare to the mixed results came out in empirical analysis. There are several reason why empirical results are different to the theoretical results. However the major factor is that of using imperfect statistics and inappropriateness of analysis method. This study used a population (1990~2008) provided from Korean Intellectual Property Office, KIPO for patent and also used a population (1990~2008) provided from Korea Investors Service, KIS for research and development. The contribution of this study is enormous statistical analysis. This study used principal component analysis made innovativeness index for appropriate index sampling, and made effort to minimize the error by using appropriate quantile regression for both to panel analysis and rapidly developed company analysis. Dividing the final results into two parts, the growth and the profit, the effect of technological innovation to the firm's growth is not significant to the panel analysis but heavily significant to the upper 10% of high growth firm. By classifying large company and small and medium enterprise, it is significant to upper 10% of high growth firm for large company and generally significant to small and medium enterprise. But for both lower 10% of low growth firms and 25% of low ranking firms are negatively effected, and for high growth firms larger than the medians are positively effected. Especially for upper 10% of high growth firms are mostly effected. It is more effective to the profitability than the growth. The effect to the profit for every enterprises are not significant, but effected significant to the larger enterprises than 25% of low ranking enterprises especially most effective to the upper 10% of high-profit enterprises. The analysis for the large company, it was significant and positively effected to the upper 10% of high profit enterprises and 25% of low ranking enterprises, but the negatively effected for the low-profit enterprises. For the small and medium enterprises, it is negatively effected for both 10% of low ranking enterprises and 25% of low ranking enterprises. However it is positively effective and significant for the high ranking enterprises than median, especially for those high growth firms. It is meaningful to recognize significancy by quantile, but more implicative result is to finding more effectiveness to the small and medium enterprises than to the large company.

• Journal of the Korean Wood Science and Technology
• /
• v.36 no.3
• /
• pp.30-38
• /
• 2008

Petroleum-based resin adhesives have extensively been used for the production of wood panels. However, with the increase of manufacturing cost and the environmental issue, such as the emission of volatile organic compounds, of the adhesive resins, it is necessary to be developed new adhesive systems. In this study, the potential of okara, which is a residue wasted from the production of tofu, for the development of bio-based adhesives was investigated. At first, the physical and chemical properties of okara were examined. After okara was hydrolyzed in acidic and/or alkaline solutions, okara-based adhesive resins were formulated with the mixtures of the okara hydrolyzates and phenol formaldehyde (PF) prepolymer. The adhesive resins were used for the fabrication of plywood panels, and then the adhesive strength and formaldehyde emission of the plywood panels were measured to examine the applicability of the resin adhesives for the production of plywood panels. The solids content and pH of the okara used in this study were around 20% and weak acidic state, respectively. In the analysis of its chemical composition, the content of carbohydrate was the highest, and followed by protein. The shear strengths of plywood fabricated with okara-based resin adhesives exceeded a minimum requirement of KS standard for ordinary plywood, but its wood failure did not reach the minimum requirement. In addition, the formaldehyde emissions of all plywood panels were higher than that of E1 specified in the KS standard. Based on these results, okara has the potential to be used as a raw material of environmentally friendly adhesive resin systems for the production of wood panels, but further researches - biological hydrolysis of okara and various formulations of PF prepolymer - are required to improve the adhesive strength and formaldehyde emission of okara-based resin adhesives.

• Journal of Technology Innovation
• /
• v.17 no.2
• /
• pp.55-80
• /
• 2009

Technology innovation activity plays a pivotal role in constructing the entrance barrier for other firms and making process improvement and new product. and these activities give a profit increase and growth to firms. Thus, technology innovation activity can reduce the default risk of firms. However, technology innovation activity can also increase the firm's default risk because technology innovation activity requires too much investment of the firm's resources and has the uncertainty on success. The purpose of this study is to examine the effect of technology innovation activity on the default risk of firms. This study's sample consists of manufacturing firms listed on the Korea Securities Market and The Kosdaq Market from January 1,2000 to December 31, 2008. This study makes use of R&D intensity as an proxy variable of technology innovation activity. The default probability which proxies the default risk of firms is measured by the Merton's(l974) debt pricing model. The main empirical results are as follows. First, from the empirical results, it is found that technology innovation activity has a negative and significant effect on the default risk of firms independent of the Korea Securities Market and Kosdaq Market. In other words, technology innovation activity reduces the default risk of firms. Second, technology innovation activity reduces the default risk of firms independent of firm size, firm age, and credit score. Third, the results of robust analysis also show that technology innovation activity is the important factor which decreases the default risk of firms. These results imply that a manager must show continuous interest and investment in technology innovation activity of one's firm. And a policymaker also need design an economic policy to promote the technology innovation activity of firms.

• The Korean Journal of Food And Nutrition
• /
• v.18 no.4
• /
• pp.341-348
• /
• 2005

The quality characteristics of bread added with the levels of $0\%,\;1.0\%,\;2.0\%\;3.0\%\;and\;4.0\%$ prickly pear powder were investigated. Mixing water absorption capacity was increased by increasing amounts of prickly pear powder. Mixing time of dough was increased compared to that of wheat flour by added prickly pear powder, while it decreased as prickly pear powder content increased. Dough stability of wheat flour added with $1.0\%$ prickly pear powder was similar to wheat flour dough, while decreased by increasing amount of prickly pear powder at the range of $2.0\~4.0\%$. Pasting temperature($66.1\~66.9^{\circ}C$) of wheat flour added with $1.0\%,\;2.0\%\;3.0\%\;and\;4.0\%$ prickly pear powder was lower($67.8^{\circ}C$) than that of wheat flour. Peak viscosity($2,226\~2,375$ cp) of wheat flour added with $1.0\%,\;2.0\%\;3.0\%\;and\;4.0\%$ prickly pear powder were higher(2,288 cp) than control, and increased with increasing amount of prickly pear powder Setback($797\~750$ cp) of wheat flour added with $1.0\%,\;2.0\%\;3.0\%\;and\;4.0\%$ prickly pear powder were lower(803 cp) than that of wheat flour, and decreased with increasing amount of prickly pear powder. The volume of dough added with prickly pear powder decreased compared to that of the wheat dough. The specific loaf volume of bread added with prickly pear powder decreased($8.0\~18.5\%$) compared to that of the wheat bread. Color of crumb was deep red gradually with the increasing amount of substituted prickly pear powder. Hardness, adhesiveness, gumminess and chewiness of bread were increased gradually with the increasing amount of substituted prickly pear powder but the springiness was decreased. The sensory evaluation showed that bread of wheat flour added with $2.0\%$ prickly pew powder was superiority than the wheat flour bread.

• Journal of Nutrition and Health
• /
• v.46 no.2
• /
• pp.137-146
• /
• 2013

The purpose of this study was to evaluate diet-related Quality of Life (QOL) and to analyze the relationship among diet-related QOL, dietary regimen practice, health-related QOL, and gastrointestinal symptoms in hemodialysis patients. Subjects were recruited from an artificial kidney center in Seoul. The self-report questionnaire consisted of socio-demographic characteristics, diet-related QOL, compliance with dietary regimen practice, health-related QOL, and gastrointestinal symptoms was distributed. Diet-related QOL includes a 'Quality of Life and Related to Dietary Change Questionnaire', 'Satisfaction Survey', and 'Dietary Impact Survey'. According to their responses, participants had experienced the greatest difficulty with 'Dietary Impact'. In particular, the mean score for general health was low. Association of dietary regimen practice showed a positive association with 'Cost' and 'Self-care' score. In addition, diet-related QOL showed positive correlation with health-related QOL, particularly in 'taste'. Scores for 'Taste', 'Convenience', and 'Dietary Impact' were lower for subjects with constipation compared to those of subjects without constipation. Scores for 'Taste' and 'Dietary Impact' were lower in subjects with irritable bowel syndrome compared to those of subjects without the syndrome (p < 0.05). Diet-related QOL showed a positive association with health-related QOL (p < 0.05), whereas it showed a negative association with constipation (p < 0.01). In conclusion, hemodialysis patients in Korea suffer from burden of dietary regimen practice and most scores for diet-related QOL and health-related QOL from patients with gastrointestinal symptoms were low. Therefore, appropriate nutrition education considering gastrointestinal symptoms is necessary for improvement of patients' QOL during dietary regimen practice.

• Journal of Intelligence and Information Systems
• /
• v.22 no.2
• /
• pp.81-96
• /
• 2016

As the internet has become widespread and easy to access everywhere, it is common for people to search information via online search engines such as Google and Naver in everyday life. Recent studies have used online search volume of specific keyword as a measure of the internet users' attention in order to predict disease outbreaks such as flu and cancer, an unemployment rate, and an index of a nation's economic condition, and etc. For stock traders, web search is also one of major information resources to obtain data about individual stock items. Therefore, search volume of a stock item can reflect the amount of investors' attention on it. The investor attention has been regarded as a crucial factor influencing on stock price but it has been measured by indirect proxies such as market capitalization, trading volume, advertising expense, and etc. It has been theoretically and empirically proved that an increase of investors' attention on a stock item brings temporary increase of the stock price and the price recovers in the long run. Recent development of internet environment enables to measure the investor attention directly by the internet search volume of individual stock item, which has been used to show the attention-induced price pressure. Previous studies focus mainly on Dow Jones and NASDAQ market in the United States. In this paper, we investigate the relationship between the individual investors' attention measured by the internet search volumes and stock price changes of individual stock items in the KOSDAQ market in Korea, where the proportion of the trades by individual investors are about 90% of the total. In addition, we examine the difference between industries in the influence of investors' attention on stock return. The internet search volume of stocks were gathered from "Naver Trend" service weekly between January 2007 and June 2015. The regression model with the error term with AR(1) covariance structure is used to analyze the data since the weekly prices in a stock item are systematically correlated. The market capitalization, trading volume, the increment of trading volume, and the month in which each trade occurs are included in the model as control variables. The fitted model shows that an abnormal increase of search volume of a stock item has a positive influence on the stock return and the amount of the influence varies among the industry. The stock items in IT software, construction, and distribution industries have shown to be more influenced by the abnormally large internet search volume than the average across the industries. On the other hand, the stock items in IT hardware, manufacturing, entertainment, finance, and communication industries are less influenced by the abnormal search volume than the average. In order to verify price pressure caused by investors' attention in KOSDAQ, the stock return of the current week is modelled using the abnormal search volume observed one to four weeks ahead. On average, the abnormally large increment of the search volume increased the stock return of the current week and one week later, and it decreased the stock return in two and three weeks later. There is no significant relationship with the stock return after 4 weeks. This relationship differs among the industries. An abnormal search volume brings particularly severe price reversal on the stocks in the IT software industry, which are often to be targets of irrational investments by individual investors. An abnormal search volume caused less severe price reversal on the stocks in the manufacturing and IT hardware industries than on average across the industries. The price reversal was not observed in the communication, finance, entertainment, and transportation industries, which are known to be influenced largely by macro-economic factors such as oil price and currency exchange rate. The result of this study can be utilized to construct an intelligent trading system based on the big data gathered from web search engines, social network services, and internet communities. Particularly, the difference of price reversal effect between industries may provide useful information to make a portfolio and build an investment strategy.