• Title/Summary/Keyword: 시대적 변화

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A Study on the Origin and Transformation of Jeonju-Palkyung (전주팔경의 시원(始原)과 변용(變容)에 관한 연구)

  • Rho, Jae-Hyun;Son, Hee-Kyung;Shin, Sang-Sup;Choi, Jong-Hee
    • Journal of the Korean Institute of Traditional Landscape Architecture
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    • v.33 no.3
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    • pp.1-15
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    • 2015
  • Based on the analysis and interpretation of the headwords and poetic words of a group of eleven collecting sceneries of Jeonju, the origin and transformations of the Jeonju-Palkyung(Eight sceneries of Jeonju) investigated by a time-series analysis are as follows. As there is no collection of landscape with a formal structure similar to that of the current Jeonju-Palkyung, prior to the Palkyung by Chujae(秋齋) Cho Soo-Sam(趙秀三, 1762~1849), there is no significant problem in assuming the eight poems in Chujaejib(秋齋集) are the origins of the Jeonju-Palkyung, and it is estimated to have been produced in 1829. In the late-19th century poem 'Wansanseunggyeong(完山勝景)', 'the Palkyung in Yeollyeo Chunhyang Sujeolga', and 'the Palkyung delivered by poet Shin Seokjeong in the Japanese colonial era', only the 'Dongpogwibeom(東浦歸帆)' changed from Dongjipo to Dongchon of Bongdong as for 'Landscape Setting There($L_{ST}$)' according to changes in district administration; despite this change, the fact that they are not too different from the Palkyung of Cho Soo-Sam, also supports this. Moreover, according to the headword concordance analysis, it is proven that the Jeonju-Palkyung was established in the late-19th century and continued to be the region's representative sceneries even during the Japanese colonial era, and later 'Namcheonpyomo(南川漂母)' and 'Gonjimangwol(坤止望月)' were added to expand to the Jeonju-Sipkyung(ten sceneries of Jeonju). But when we see there are famous spots that are the origins of the Jeonju-Sipkyung, including Gyeonggijeon, Geonjisan, Jogyeongdan, Omokdae, and Girinbong, Deokjinyeon, and Mangyeongdae, all of which have great representational significance as the capital of Jeolla Provincial Office as well as of the place of origin for Joseon Dynasty in the grouping of sceneries during the early Joseon Dynasty, including "Paehyangsipyeong (沛鄕十詠)", "Gyeondosipyeong (甄都十詠)", and "Binilheonsipyeong(賓日軒十詠)", the beginnings of the semantic Jeonju-Palkyung should be considered up to the first half of Joseon Dynasty. During this period, not only the fine sceneries with high retrospective merit as the capital of Hubaekje, like Gyeonhwondo(甄萱都), but also the sceneries like Mangyeongdae that reminds people of Jeong Mongju(鄭夢周) and Yi Seonggye(李成桂) in the late period of Goryeo appeared, elevating the status of Jeonju as the capital of Hubaekje and shortening the historical gaps as the place of origin of the Joseon Dynasty. The Jeonju-Palkyung is an organic item that carries the history of the Joseon Dynasty after Hubaekje and has gone through many cycles of disappearing and reappearing, but it has continued to change and transform as the region's representative sceneries. The Jeonju-Palkyung is a cultural genealogy that helps one understand the 'Jeonju Hanpunggyeong(韓風景: the sceneries of Korea in Jeonju)', and the efforts to preserve and pass it down to the next generation would be the responsibility of the people of Jeonju.

Basic Studies on the Location and Spatial Organization Characteristics of the Seoul Sajikdan (서울 사직단(社稷壇)의 입지(立地)와 공간구성특성(空間構成特性)에 관한 기초연구(基礎硏究))

  • Choi, Seung-Sik;Shim, Woo-Kyung;Yoo, Jong-Ho;Jeon, Hye-Won;Choi, Jong-Hee
    • Journal of the Korean Institute of Traditional Landscape Architecture
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    • v.30 no.1
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    • pp.146-158
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    • 2012
  • This study aims to discussion the characteristics of location and spatial organization of the Seoul Sajikdan that has significance as one of national ceremonial place in Joseon Dynasty to understand its landscape architectural characteristics. To do this, we studied in two ways; review of historical documents and analysis of the present conditions and photographing, research materials about the form of physical structure. Through these ways, the results are as follows. First, in case of construction, Sajikdan took fundamental shape in Tae-jong 16 year(1416), since then it had been changed during Imjin War, reign of Suk-jong, and Japanese Colonial Era. It took present shape through restoration of Seoul Sajikdan in 1998. Second, in case of location, Sajikdan abuts onto southeastern range of Mt. Inwang that is Wubaekho(右白虎) of inner four mountain(內四山) of Hanyang, and it has a topography of west-high-east-low type. Also its territory is up to Maedong elementary school, the office of Sajik-dong, and a Dangun shrine. Third, in case of spatial organization, Sadan and Jikdan are in harmony of Yin-Yang(陰陽) and arranged in the center. As making Yumun and Sinmun(神門) at the center of four side of Yuwon and Juwon(周垣), they show organization of the Five Elements. And subsidiary buildings are thought that its arrangement was considered functional similarity and use convenience. Finally, in case of spatial component, Danyu structures are Sadan and Jikdan that hold a Sajikdaeje(社稷大祭), Yuwon that surround two altars, and Juwon that is outer fence of Yuwon. Architectures are Sajikdan Jeongmun, Sinsil, and Anhyangcheong. Also Prunus yedoensis, Zelkova serrata, Acer palmatum, are planted, but Pinus densiflora was main species and there needs to be replanted suitably to the site.

Objects and Landscape Characteristics of Japanese Apricot(Prunus mume) Appreciation through the Poem Titles (매화시제(梅花詩題)를 통해 본 매화 완상(玩賞)의 대상과 경관 특성)

  • So, Hyun-Su;Lim, Eui-Je
    • Journal of the Korean Institute of Traditional Landscape Architecture
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    • v.31 no.4
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    • pp.84-94
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    • 2013
  • This study scrutinizes the titles of serial poems on Japanese Apricot, which have lucid characters on season and time changes, having been appreciated and recited by the scholars in the Choseon Dynasty era and analyses the records of Zhang zi(1153~1235), a writer in Song(宋) Dynasty in China, having presented the objects harmonizing perfectly with Japanese Apricot. The results of this study categorizes the objects of Japanese Apricot appreciation and establishes the landscape characteristics on Japanese Apricot appreciation affiliated with as follows. First, the objects of Japanese Apricot appreciation are categorized into 'form of blossoms', 'natural feature(景物)', 'place of tree planting', 'the picturesque scene(景色)' and 'behavior'. Second, the scholars regarded the single trees whose branches are grotesque as the objects of appreciation and enjoyed them. They preferred white and single petal Japanese Apricot and admired red Japanese Apricot which has Taoism images. Third, they admired pines and camelias which represent fidelity and strength and valued Japanese Apricot with cranes which remind themselves of solitary scholars. Fourth, they appreciated the images of Japanese Apricot reflected on the water, and the poetically inspiring atmosphere where the trees are planted by the window. Fifth, the moon and snow were crucial weather conditions for appreciating. cold weather and time from night to dawn were ideally suited for enjoying. Sixth, they enjoyed blossoms in various fashions like bottling(甁梅), potting(盆梅), green-housing(龕梅), searching(龕梅) and black-and-white painting(墨梅) with a view to seeing blossoms earlier than the usual flowering time. Moreover, they used paper drapes, bead curtains, mirrors and ice lamps for active appreciation. They also listened to the sound of Piri(wind) and Geomungo(string), played go and drew tea with noble and elegant beauties when they enjoyed Japanese Apricot. The scholars influenced by the neo-Confucianism, which contemplates the objects, attached the specific sentiments like memories, grieves, dreams and farewells to Japanese Apricot and appreciated them. As stated above the scholars enjoyed the landscape including the picturesque scene like climate-weather, time-season and human behaviors not to mention the physical beauty of Japanese Apricot themselves and objects in company with Japanese Apricot including animals and plants.

Technological Diversities Observed in Bronze Objects of the Late Goryo Period - Case Study on the Bronze Bowls Excavated from the Burial Complex at Deobu-gol in Goyang - (고려 말 청동용기에 적용된 제작기술의 다양성 연구 - 고양 더부골 고분군 출토 청동용기를 중심으로 -)

  • Jeon, Ik Hwan;Lee, Jae Sung;Park, Jang Sik
    • Korean Journal of Heritage: History & Science
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    • v.46 no.1
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    • pp.208-227
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    • 2013
  • Twenty-seven bronze bowls excavated from the Goryo burial complex at Deobu-gol were examined for their microstructure and chemical composition to characterize the bronze technology practiced by commoners at the time. Results showed that the objects examined can be classified into four groups: 1) objects forged out of Cu-near 22%Sn alloys and then quenched; 2) objects cast from Cu-below 10% Sn alloys containing lead; 3) objects cast from Cu-10%~20% Sn alloys containing lead and then quenched; 4) objects forged out of Cu-10~20% Sn alloys containing lead and then quenched. This study revealed that the fabrication technique as determined by alloy compositions plays an important role in bronze technology. The use of lead was clearly associated with the selection of quenching temperatures, the character of inclusions and the color characteristics of bronze surfaces. It was found that the objects containing lead were quenched at temperatures of $520^{\circ}{\sim}586^{\circ}C$ while those without lead were quenched at the range of $586^{\circ}{\sim}799^{\circ}C$. The presence of selenium in impurity inclusions was detected only in alloys containing lead, suggesting that the raw materials, Cu and Sn, used in making the lead-free alloys for the first group were carefully selected from those smelted using ores without lead contamination. Furthermore, the addition of lead was found to have significant effects on the color characteristics of the surface of bronze alloys when they are subjected to corrosion during interment. In leaded alloys, corrosion turns the surface light green or dark green while in unleaded alloys, corrosion turns the surface dark brown or black. It was found that in fabrication, the wall thickness of the bronze bowls varies depending on the application of quenching; most of the quenched objects have walls 1mm thick or below while those without quenching have walls 1mm thick or above. Fabrication techniques in bronze making usually reflect social environments of a community. It is likely that in the late Goryo period, experiencing lack of skilled bronze workers, the increased demand for bronze was met in two ways; by the use of chief lead instead of expensive tin and by the use of casting suitable for mass production. The above results show that the Goryo bronze workers tried to overcome such a resource-limited environment through technological innovations as apparent in the use of varying fabrication techniques for different alloys. Recently, numerous bronze objects are excavated and available for investigation. This study shows that with the use of proper analytical techniques they can serve as a valuable source of information required for the characterization of the associated technology as well as the social environment leading to the establishment of such technology.

Requirement Analysis for Agricultural Meteorology Information Service Systems based on the Fourth Industrial Revolution Technologies (4차 산업혁명 기술에 기반한 농업 기상 정보 시스템의 요구도 분석)

  • Kim, Kwang Soo;Yoo, Byoung Hyun;Hyun, Shinwoo;Kang, DaeGyoon
    • Korean Journal of Agricultural and Forest Meteorology
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    • v.21 no.3
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    • pp.175-186
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    • 2019
  • Efforts have been made to introduce the climate smart agriculture (CSA) for adaptation to future climate conditions, which would require collection and management of site specific meteorological data. The objectives of this study were to identify requirements for construction of agricultural meteorology information service system (AMISS) using technologies that lead to the fourth industrial revolution, e.g., internet of things (IoT), artificial intelligence, and cloud computing. The IoT sensors that require low cost and low operating current would be useful to organize wireless sensor network (WSN) for collection and analysis of weather measurement data, which would help assessment of productivity for an agricultural ecosystem. It would be recommended to extend the spatial extent of the WSN to a rural community, which would benefit a greater number of farms. It is preferred to create the big data for agricultural meteorology in order to produce and evaluate the site specific data in rural areas. The digital climate map can be improved using artificial intelligence such as deep neural networks. Furthermore, cloud computing and fog computing would help reduce costs and enhance the user experience of the AMISS. In addition, it would be advantageous to combine environmental data and farm management data, e.g., price data for the produce of interest. It would also be needed to develop a mobile application whose user interface could meet the needs of stakeholders. These fourth industrial revolution technologies would facilitate the development of the AMISS and wide application of the CSA.

Biogenesis of Lysosome-related Organelle Mutant Silkworms by Direct Injection of a Cas9 Protein-guided RNA Complex into Bombyx mori Embryos (Cas9 단백질/ 가이드 RNA 복합체를 이용한 누에 BmBLOS 유전자 편집)

  • Kim, Kee Young;Yu, Jeong Hee;Kim, Su-Bae;Kim, Seong-Wan;Kim, Seong-Ryul;Choi, Kwang-Ho;Kim, Jong Gil;Park, Jong Woo
    • Journal of Life Science
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    • v.29 no.5
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    • pp.537-544
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    • 2019
  • Genome editing technology employing gene scissors has generated interest in molecular breeding in various fields, and the development of the third-generation gene scissors of the clustered, regularly interspaced short palindromic repeat (CRISPR) system has accelerated the field of molecular breeding through genome editing. In this study, we analyzed the possibility of silkworm molecular breeding using gene scissors by genomic and phenotypic analysis after editing the biogenesis of lysosome-related organelles (BmBLOS) gene of Bakokjam using the CRISPR/Cas9 system. Three types of guide RNAs (gRNA) were synthesized based on the BmBLOS gene sequence of Bakokjam. Complexes of the prepared gRNA and Cas9 protein were formed and introduced into Bombyx mori BM-N cells by electroporation. Analysis of the gene editing efficiency by T7 endonuclease I analysis revealed that the B4N gRNA showed the best efficiency. The silkworm genome was edited by microinjecting the Cas9/B4N gRNA complex into silkworm early embryos and raising the silkworms after hatching. The hatching rate was as low as 18%, but the incidence of mutation was over 40%. In addition, phenotypic changes were observed in about 70% of the G0 generation silkworms. Sequence analysis showed that the BmBLOS gene appeared to be a heterozygote carrying the wild-type and mutation in most individuals, and the genotype of the BmBLOS gene was also different in all individuals. These results suggest that although the possibility of silkworm molecular breeding using the CRISPR/Cas9 system would be very high, continued research on breeding and screening methods will be necessary to improve gene editing efficiency and to obtain homozygotes.

A Study on the Memory of the Korean War and the Representation of the Play-Focused on Shin Myung-soon's (한국 전쟁에 대한 기억과 연극의 재현 양상 -신명순의 <증인>을 중심으로)

  • Kim, Tae-hee
    • (The) Research of the performance art and culture
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    • no.43
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    • pp.145-172
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    • 2021
  • Shin Myung-soon's is based on the taboo 'bombing of the Han River Bridge'. The reality of the bombing of the Han River Bridge in 1950 and the shooting of Colonel Choi Chang-sik was known only as a word of mouth. At that time, the ruling class did not want to reveal the painful mistakes of the unfavorable war situation in the early days of the war and the false broadcasting of the president. The truth of the case, which was kept completely secret even to the bereaved family, could only be revealed after the regime change. After that, the bereaved family of Colonel Choi Chang-sik confirmed the innocence of the deceased through a request for retrial, and then the was born. However, the fate of was not so smooth. At the time, the performance officials vividly remember the difficulties they had with the text. Despite passing the pre-screening of the script, the performance was canceled just before the performance. The fact that the National Theater, officials from the Ministry of Culture and Education, and even military generals visited the practice room to stop the performance, on the contrary, was a testimony to the dangers of . It can be summarized as a crack in official history and a move to stop it. was later adapted into a special TV drama in 1981 and was first released to the public. This was a very meaningful step in terms of dealing with politically sensitive subjects on television, but the inconsistency of in the first place has largely disappeared. After that, in 1988, only after democracy entered the phase of appeasement, could be performed in its full form. In short, can be said to be an example of a process in which the history of the Korean War recorded from the standpoint of an established order and the counter-memory that crack it up are transformed according to the changes of the times and media.

Characteristics and Implications of 4th Industrial Revolution Technology Innovation in the Service Industry (서비스 산업의 4차 산업혁명 기술 혁신 특성과 시사점)

  • Pyoung Yol Jang
    • Journal of Service Research and Studies
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    • v.13 no.2
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    • pp.114-129
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    • 2023
  • In the era of the 4th industrial revolution, the importance of the 4th industrial revolution technology is increasing in the service industry. The purpose of this study is to identify the development and utilization status of the 4th industrial revolution technology in the service industry and to derive the characteristics and implications of the 4th industrial revolution technology innovation in the service industry. In this study, research and analysis were conducted based on the business activity survey data in order to identify the technological innovation characteristics of the 4th industrial revolution in the service industry. The 4th industrial revolution technology in the service industry was analyzed in terms of company ratio, technology development and utilization rate, development/utilization technology, technology application field, and technology development method. In addition, the trend of the 4th industrial revolution technology change in the service industry was also analyzed. The 4th industrial revolution technology utilization and development status of other industries was compared and analyzed. In particular, the service industry 4th industrial revolution technology innovation type was divided into 4 types from the perspective of the 4th industrial revolution company ratio and the 4th industrial revolution company ratio growth rate, and types for each service industry were derived. The characteristics and implications of the 4th industrial revolution technology innovation in the service industry were presented from nine perspectives. As a result of the study, it was found that companies in the service industry were developing or using 4th industrial revolution technologies more actively than companies in other industries, and it was analyzed that the gap was further widening. By service industry, information and communication, finance and insurance, and educational service showed relatively high rates of developing or utilizing 4th industrial revolution technologies. The service industries in which the share of 4th industrial revolution companies increased the most were real estate, education service, health and social welfare service. In particular, cloud, big data, and artificial intelligence were analyzed as the three core technologies of the fourth industrial revolution. The service industry can be classified into 4 types in terms of the 4th industrial revolution company ratio and growth rate, and service industry innovation measures that reflect the differentiated innovation characteristics of each type are needed.

Analysis of the Stage and Performance Elements for Bongsudang-jinchan Banquet in Joseon Dynasty (봉수당진찬(奉壽堂進饌)의 무대와 공연 요소 분석)

  • Song, Hye-jin
    • (The) Research of the performance art and culture
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    • no.18
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    • pp.413-444
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    • 2009
  • This paper is an analysis of stage and performance elements for the ceremonial procedures and dance featured in bongsudang-jinchan, a feast celebrating the 60th birthday of Hyegyeong-gung Hongssi (Crown Princess Hong of Hyegyeonggung), the mother of King Jeongjo, which took place in Hwaseong haegung palace in 1795. The primary sources used are data on bongsudangjinchan recorded in Wonhaeng-eulmyojeongriuigwe, Jeongjo-sillok, Hongjae-jeonseo, pictorial sources such as Folding Screens of Hwaseong-neunghaeng and Hwaseong Ilgi, which is a journal in Korean by Yi Hui-pyeong. A court ceremony to offer music, dance, flowers, and food, as well as wine and poetry which express the sentiments of chung (fidelity) and hyo (filial piety) was considered a national ceremony and has constituted a unique musical culture during the 500 years of Joseon dynasty. However, after the fall of Joseon dynasty, ceremonial music and dance, which have been organically linked within the overall symbolic system of ye (courtesy), became scattered to become independent 'pieces.' As a result, all of their philosophy, principles, and the time-space interpretation of court music and dance became greatly reduced, leaving only the artistic expression and formal structure of the music and dance to become emphasized. Since the 1990s, there has been many research and events aiming to re-create the court ceremonial tradition, resulting in the increase of the related performance activities. This is especially true with bongsudang-jinchan, which is now being performed on modern stage in various forms. However there are still many problems to be solved, such as the issue of re-creating and restoring the original, and the question of artistic value found in the traditional pieces. Until now, much focus has been paid to the outer re-construction of uiju document as recorded in Wonhaeng-eulmyo-jeongriuigwe. On the other hand, there lacked an in-depth study which analyzes the stage situation and performance elements. Therefore in this paper, after focusing on the stage structure and performance elements, it is concluded that bongsudang-jinchan, the only court feast to be held in Haeng gung, not only consists of the fundamental aspects of court performance principle as 'governing through ye and ak (music),' but also served as an important occasion to bring together the sovereign and the subject. Bongsudang-jinchan had features of both naeyeon (feast for ladies) and oeyeon (feast for gentlemen). It minimized the use of screens and allowed every guest to enjoy food, music, and dance together, but provided a separate tent for foreign guests, maintaining the ideal balance between equality and distinction among different gender and social status. A screen symbolizing the venue for the feast is placed for all of the government officials. The king then pronounces the beginning of the banquet in which the ideal of gunsin-dongyeon (king and officials dining together) is realized. This indicates that bongsudang-jinchan, compared to other court ceremonies that emphasize the principle of yeak (courtesy and music), focuses more on the spirit of harmony and rapprochement. The king played a more active role in bongsudang-jinchan than in any other royal feasts. Examples as recorded in uiju documents are; Jeongjo's conversation with his retainers after the 7th wine, king's bestowing of food and flowers to the officials, writing his own majesty's poems with regard to the festival, and asking the retainers to write replying poems. All these played an important part in making the occasion more rich, extensive, and meaningful. Moreover, as analysis of the structure of orchestral music and court dance featured in bongsudang-jinchan shows, it was like any other court banquet in that it employed minimal use of extravagance in movements and conversation. However, the colors and tonal texture used in the music and dance were more brilliant in this case. Compared to other banquets that took place before king Jeongjo, the dance style was more diverse, which included some of the latest additions. There were past performances arranged anew. Noteworthy are; the incorporation of "Seonyurak (Boat Dance)" and "Geommu (Sword Dance)," traditionally used for local officials and civilians feast, to suit the court taste; and the use of saenghwang (mouth organ), which was a rising instrument in pungnyubang (literati's private salon), for "Hakmu (Cranes Dance)." This especially indicates the nature of the 'open structure' pursued by the court banquets at the time, which strove to break away from the traditional rules and customs and accept something new.

Impact of Shortly Acquired IPO Firms on ICT Industry Concentration (ICT 산업분야 신생기업의 IPO 이후 인수합병과 산업 집중도에 관한 연구)

  • Chang, YoungBong;Kwon, YoungOk
    • 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.