• Management & Information Systems Review
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• v.31 no.3
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• pp.223-248
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• 2012

This study analyses support policy and structural change of textile industry in Daegu Kyungbuk region, and suggests major issues for textile industry's innovation. In Daegu Kyungbuk, it was 1999 that a policy, so called Milano Project, in order to promote a textile industry was devised. In 2004, the Regional Industrial Promotion Plan was devised. The plan was born from a view point of establishing a regional innovation system and of promoting the innovative clusters under a knowledge based economy. After then, the Regional Industry Promotion Project or Regional Strategic Industry Promotion Project became a core of regional textile industrial policy. Research results indicated that the first stage Milano project (1999-2003) showed both positive and negative effects. There were no long-term development plan, clear vision and strategy. But, core industrial infrastructure for differentiated product development, such as New product Development Support Center and Dyeing Design Practical Application Center, was constructed. The second stage Daegu Textile Industry Promotion Plan (2004-2008) displayed a significant technological performance and new product sales with the assistance of Kyungbuk province. Also, textile industry revealed positive fruits such as financial structure, productivity, and profitability as a result of strong restructuring. In industrial structure, there was a important change from clothe textile material to industry textile material. Most of textile companies did not showed high capability in CEO's technology innovation intention, entrepreneurship, R&D and human resource competency in compare with other industry. We suggested that Daegu Kyungbuk has to select and concentrate on the high-tech textile material and living textile for sustainable development and competitiveness. We also proposed a confidence and cooperation based innovation network and company oriented innovation cluster.

• 한국벤처창업학회:학술대회논문집
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• 2010.08a
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• pp.139-160
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• 2010

On July 21st in 2005, People's Bank of China (PBOC) turned the currency peg against the U.S. dollar into managed currency system based on a basket of unnamed currencies under China's exchanged rate regime. This change means that China's enterprises are not free from currency fluctuations. The purpose of this study is to analyze the relations between Renminbi fluctuations in the floating exchange rate and financial results of venture companies. The process and outcomes of this study are as follows, First, in order to measure the financial results of venture companies, I choose venture companies in Shandong Province listed on the Shanghai Stock Exchange (SSE) at random and several quarter financial sheets according to safety ratios, profitability ratios, growth ratios, activity ratios. Second, I arrange the daily Renminbi exchange rate data announced from July 21st, 2005 to December 31st, 2008 by PBOC into the quarterly data. Third, in order to confirm the relations between Renminbi fluctuations and financial results of venture companies, I carry out Pearson's correlation analysis. As a result, the revaluation of the Chinese Renminbi has weakly negative effects on debt ratio, total assets turnover ratio and equity turnover ratio in statistics. But the revaluation of the Chinese Renminbi is not related to other financial index in statistics. The result of this study is that the revaluation of the Chinese Renminbi has little influence on the export and import of Chinese venture companies and certifies the fact that Chinese venture companies have much foreign currency assets. In addition to avoid the currency exposure risk, this study shows the effective method about currency exposure risk which adjusts proportion of Renminbi to foreign currency.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.12 no.4
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• pp.15-24
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• 2017

The major goal of this paper falls on developing new rational valuation model, to help companies and investors in the early stage of growth as to preparing and negotiating valuation of investment, by applying new reasonable discount indexes of calculating Discount Cash Flow in valuation of the start-up which has been recognized the critical fatal flaws of DCF with them. There are three specific studies done in this paper. First, this paper found the solid and viable bases of rational discount indexes as to applying DCF in valuing companies in the early growth stage with reviewing the previous studies including Berkus method, Scorecard Method, and Risk factor Summation method classified the most effective tools of valuing pre-revenue generating companies. Second, this paper quoted and analyzed the previous models and studies, so called, 'DCF-Prime' of applying DCF method as to value companies in the early growth stage by taking all risk factors innate to the companies in the early growth stage as the discount rate Beta coefficient. Third, this paper propose more viable and solid valuation models, so called, 'DCF-Plus'of combing all validated valuation factors in Berkus, Scorecard, and Risk Factor Summation methods into applying separate discount bracket after DCF Valuation over the companies in the early growth stage instead of taking them as the factors of discount rate, beta coefficient, like the previous model of DCF-Prime. DCF-Plus mainly developed in this paper will not only provide more rational valuation bases as to investment negotiation between companies and investors in the early growth stage, but also providing more accountable guidelines to companies in the early growth as to prepare investment raising and accelerating their company's value by themselves.

• Korean Business Review
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• v.17 no.2
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• pp.63-87
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• 2004

To create and maintain comparative supremacy as a strategic tool of business, many organizations have introduced informational technology and system. By using this system, Some companies got a beneficial value for achieving organizational goals but others could not obtain their effectiveness and efficiency. In particular, a lot of organizations that tried to make strategic supremacy with e-commercial trade are under hard condition because of poor profit. It implies that it is essential to identify and analyse the consumer who uses e-commercial trade. This paper, therefore, focusing on internet shopping malls between business and consumer as one of areas of e-commercial trades, shows the difference between consumer expectation and performance. The results of this study are as follows: First, as for the significant difference of influencing factors to consumer satisfactions according to the types of internet shopping malls, there is a meaningful difference in consumer anxiety and internet usefulness, but not in consumer service. Prior to verify the differences in detail on consumer's anxiety and internet usefulness, we examined that there is any difference between expectation and performance. T-test was used for the variants of consumer anxiety and internet usefulness, and its meaningful probability was 0.000, which means that both showed statistically significant difference. Based on the results, we also found that regardless of the types of internet shopping malls, consumer expectation was greater than performance. although the difference between expectation and performance was not equal according to the internet shopping malls. Second, a regression analysis was performed to understand the relation between consumer service, internet usefulness, consumer anxiety, and consumer satisfaction, it was found that consumer service, internet usefulness, consumer anxiety had significantly effected on consumer satisfaction. Third, To verify the relation between consumer satisfaction and repurchase-intentions, intentions to spread out, Pearson correlation analysis was used. it was found that consumer satisfaction had positive effect on both intentions. This study has some limitations because of the shorts of money and time. since the sample of this study was consumers who have ever bought one or more products via internet shopping mall, this sample was appropriate. but the major parts of sample were college students, and the sample size was so small. therefore this results should carefully be generalized. For further study, it is required to select more precise samples and to include more variables.

• Management & Information Systems Review
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• v.32 no.5
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• pp.69-88
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• 2013

This study aimed to analyze the effects that the exchange relationship among employees engaged in the wedding industry in Busan, Ulsan and Gyeongnam area exerted on job satisfaction and voluntary service intentions. For this purpose, a theoretical model was presented based on previous studies and the relationship among variables was analyzed based on the analysis results through a survey. There have recently been great difficulties in the whole wedding industry due to the global economic depression and the low birthrate. Moreover, it is hard to optimize the future business environment. In particular, the low birthrate has weakened the demand base of the wedding industry. As a result, it is expected that the competition among companies will be more fierce in the wedding industry. Employees' voluntary service intention become much more important to overcome difficulties in this industry. Employees' voluntary service intentions can be possible when their job satisfaction is achieved. Many studies report the result that this job satisfaction can naturally be achieved when the high quality exchange relationship among a leader, team members (co-workers) and customers is formed. It is viewed that employees' voluntary service intentions should be induced through job satisfaction to improve the profitability through the efficient operation and management of the system. A leader of the organization should make an effort to form the high-quality exchange relationship with members, support so that team members(coworkers) and other employees can get along together and the teamwork can be improved and induce them to improve a high level of service quality with friendly customer services. In spite of the significance of the study discussed above, there are the following limitations in this study. There is a limit to a certain extent in generalizing study conclusions because the study was limited to the Busan, Ulsan and Gyeongnam area. If practical surveys which full- and part-time employees are included in the composition of samples are conducted for wedding suppliers in the country in the future, the quality of study will be able to improve.

• Food Science and Preservation
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• v.24 no.1
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• pp.68-73
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• 2017

The main objective of this study was to investigate the effects of various commercial pectin enzyme treatments on juice yield from Aronia fruits (Aronia melanocarpa) as well as changes in physicochemical properties such as pH, total acid, reducing sugar, soluble solid, total anthocyanin, total phenolic compounds, and DPPH radical scavenging activity. Different types and reaction conditions of pectinase were also investigated in order to improve extraction yield of Aronia juice. The optimal conditions of enzyme treatment were 0.1% of concentration (w/w) at $50^{\circ}C$ for 120 min. Among enzymes used in this study, extraction yield with Rapidase Press L treatment from Aronia juice was the highest and resulted in a significant increase in juice from 51.0 to 69.1%. Rapidase C80 MAX showed 68.83% extraction yield while Plantase TCL showed 66.70% extraction yield. Reducing sugar and soluble solid contents increased after enzyme treatment. Total acids also slightly increased after enzyme reaction. No significant difference was observed in pH regardless of pectin enzyme treatment. However, enzyme treatment resulted in an increase in total phenolic compounds, total anthocyanin, and DPPH radical scavenging in Aronia juice compared to the juice prepared juice.

• Journal of the Korean Geographical Society
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• v.28 no.4
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• pp.285-297
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• 1993

For the application of the diffusion equation, slope height and maximum slope angle are calculated from the plotted slope profile. Using denudation rate as a solution for the diffusion equation, an apparent age index can be calculated, which is the total amount of denudation through total time. Plots of slope angle versus slope height and apparent age index versus slope height are useful for determining relative or absolute ages and denudation rates. Mathematical simulation plots of slope angle versus slope height can generate equal denudation-rate lines for a given age. Mathematical simulations of slope angle versus age for a given slope height, for equal denudation-rate at a particular profile site, and for comparing to other sites having controlled ages.

• Journal of the HCI Society of Korea
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• v.13 no.3
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• pp.55-63
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• 2018

Most people today search for information on the Internet about the goods or services they want to purchase and then assess the replies posted by other people who have experience with those goods or services. These replies serve as an important reference point that can affect purchase decisions. Replies are divided broadly into two types: first, market normative replies about whether a person experiences satisfaction with (or more than) the price paid for goods or services (positive) or not (negative); and the second is non-market normative replies about whether the goods or service provider morally deserves the profits gained from providing them (positive) or not (negative). Previous studies on replies have focused on market normative replies (whether the food is delicious), and there have only been some studies on the effect of non-market normative replies (the owner is morally good). This research was undertaken to re-examine the effect of market normative replies identified by previous studies in a restaurant visit intention evaluation (Experiment 1), to examine the effect of non-market normative replies not investigated in previous studies (Experiment 2), and to compare the effect of market normative replies and non-market normative replies (the meta-analysis) In conclusion, restaurant visit intention was stronger when market normative replies were positive (delicious) than when they were negative (not delicious) (Experiment 1). Furthermore, restaurant visit intention was stronger when non-market normative replies were positive (the owner is moral) than when they were negative (the owner is immoral) (Experiment 2). On the other hand, it was found that restaurant visit intention was stronger when non-market normative replies were positive than when market normative replies were positive, and restaurant visit intention was weaker when non-market normative replies were negative than when market normative replies were negative. This implies that people are more likely to be affected by non-market normative replies than market normative replies. In addition, this study suggested that the mood changed more before and after checking non-market normative replies than before and after checking market normative replies, and due to this difference, people could be affected more by non-market normative replies than market normative replies.

• The Korean Journal of Financial Management
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• v.21 no.2
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• pp.99-123
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• 2004

We focus in this study on incremental financing decisions and estimate a logit model for the probability a firm will choose a private placement over a public bond issue. We hypothesize that information asymmetry, financial risk, agent cost, and proprietary information may affect a firm's choice between public debt and private placements. We find that as the size of firm increases, the probability of choosing a private placement declines significantly. The age of the firm, however, is not a significant factor affecting the firm's choice between public and privately-placed bond. The coefficients on the firm's leverage and non-investment grade dummy are significantly positive, meaning firms with high financial risk and credit risk select private placements. The findings regarding agency-related variables, PER and Tobin's Q, are somewhat complex. We find significant evidence that firms with high PER prefer private placements to public bonds, suggesting that borrowers with options to engage in asset substitution or underinvestment are more likely to choose private placements. The coefficient of Tobin's Q is negative, but not significant, which weakly support the hold-up hypothesis. When we construct an interaction term on the Tobin's Q with a non-investment rating dummy, however, the Tobin's Q interaction term becomes positive and significant. Thus, high Tobin's Q firms with a speculative rating are significantly more likely to choose a private placement, regardless of the potential hold-up problems. The ratio of R&D to sales, proxy for proprietary information, is positively significant. This result can be interpreted as evidence in favor of a role for proprietary information in the debt sourcing decision process for these firms.

• Journal of the Korea Institute of Building Construction
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• v.9 no.4
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• pp.119-129
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• 2009

Building construction trends have been changed dramatically in terms of size and mass. With the need to maximize land usage, there has been an increase in the construction of high-rise buildings. This affects not only the entire construction duration and cost, but also subsequent construction activities, such as work to increase underground facilities and in reclamation land area construction. These types of site conditions require soft ground reinforcement and the proper uplift water pressure treatment. In general, two kinds of methods have been used for uplift water pressure treatment systems. However, there have been some problems arising as the result of a lack of research and analysis on underground construction techniques, and a reliance on experiments over actual survey and analysis of site conditions. This paper focused on the problems of conventional selection procedure, by analyzing drawings and proposing a kind of modeling for a reasonable procedure. The results were applied to OO project as a sample construction case to be verified in this research. The initial plan in the case project was the Rock Anchor System. However, as there were terrible miscalculations of basic site conditions that had an extraordinary influence on the underground water level, such as the site's proximity to the Han-river, it was necessary to change the plan to include apermanent drainage system. This achieved a direct construction cost reduction \ 406,702,000 and a maximum sayings of 4% of operational cost, based on the 50-year building Life Cycle Cost.