• The Korean Journal of Financial Management
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• v.27 no.1
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• pp.181-208
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• 2010

In July 2007, Korean government has passed "The Capital Market and Financial Investment Services Act" to further develop the capital markets and the Act was to become effective in February 2009. Using a large sample of Korean firms, we have examined (i) the effect of underwriting activities on the firm value (bond spread) comparing commercial bank and investment bank, and (ii) the determinants of the firm value changes following underwriting activities of bank. To test our goal, we collected a wide range of samples of data for bond issuing activities executed by Korean firms listed on the Korea Stock Exchange (KSE) between 2000 and 2003. Our paper is distinguished from previous studies on this subject in a way that we analyzed the effect of corporate bond underwriting activities with regard to commercial banking and investment banking. Initially, we set up a hypothesis that "Certification View" and "Conflict-of-interest View" are major driving forces behind cross-firm differences in performance following bond issuance. We find that, in general, underwriting by investment bank (securities company) brings a positive effect on the firm value (spread between bench mark rate and bond issuing rate). This result indicates that firm value has been negatively affected by the bank underwriting and provides the evidence for "Conflict-of-interest View" in Korea. Our studies have also revealed that any change in firm value following bond issuance is positively related with the firm size (total asset), operating performance, liquidity (cashflow), and equity ownership by foreign investors. Overall, our results support the view that bank underwriting activities can play an important role in determining firm value and financial strategies under "The Capital Market and Financial Investment Services Act" of 2007.

• Journal of agricultural medicine and community health
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• v.29 no.1
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• pp.65-75
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• 2004

Objectives: Immunizations have been one of the most effective measures preventing from infectious diseases. It is quite important national infectious disease prevention policy to keep the immunizations rate high and monitor the immunizations rate continuously. To do this, Korean CDC introduced the National Immunization Registry Program(NIRP) which has been implementing since 2000 at the Public Health Centers(PHC). The National Immunization Registry Program will be near completed after sharing, connecting and transfering vaccination data between public and private sector. The aims of this study was to evaluate the immunization module of non-chart system in private clinic with health information system of public health center(made by POSDATA Co., LTD) and immunization registry program(made by BIT Computer Co., LTD). Methods: The analysis and survey were done by specialists in medical, health field, and health information fields from 2001. November to 2002. January. We made the analysis and recommendation about the immunization module of non-chart system in private clinic. Results and Conclusions: To make improvement on immunization module, the system will be revised on various function like receipt and registration, preliminary medical examination, reference and inquiry, registration of vaccine, print-out various sheet, function of transfer vaccination data, issue function of vaccination certification, function of reminder and recall, function of statistical calculation, and management of vaccine stock. There are needs of an accurate assessment of current immunization module on each private non-chart system. And further studies will be necessary to make it an accurate system under changing health policy related national immunization program. We hope that the result of this study may contribute to establish the National Immunization Registry Program.

• Journal of the Korean earth science society
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• v.27 no.4
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• pp.390-400
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• 2006

The purpose of this study is to propose an improvement plan based on an analysis of the current earth science teacher education curriculum in the department of education in the four fields of teaching profession theory: student-teacher practice, subject lesson education, and subject content education. The following are the conclusions and suggestions of this study. In case of teaching profession theory, too much emphasis is put on pedagogical theory over practical issues, and a problem arises upon completion. Therefore, it is sugguest that teaching profession theory might be completed before subject lesson education to ensure more authentic subjects performing teaching profession. The current term for student-teacher training is too short to understand the whole school system. Current school system does not have any off-job training course or internship system. Therefore, student-teacher training term should be increased by at least $3{\sim}6$ months to play a vital role in the current system. The credit number of subject lesson education is too small compared with subject content education. Consequently, the credit number of subject lesson education should be increased, and more professor majored in subject lesson education should be recruited. Significant deviation between the content of subject content education and that of middle school grade exists, and there is also much difference in the ratio of subject according to university. To get rid of these problems, subject content education should be connected with subject lesson education and appropriate number of credit needs to be assigned to each subject domain.

• Journal of Distribution Science
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• v.8 no.1
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• pp.21-33
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• 2010

The ICT(information & communication technology) led to a dramatic change of floral distribution service, a phase of competition between wholesales and retail stores, and distribution channels in floral industry. It was expected that a role of the intermediaries in this industry would have reduced due to the improvement of transaction process by ICT. However, the ICT made to overcome a regional limit of the floral retail distribution service leading to an increase in sales and enlargement of the stores. And even it made possible to bring out another type of intermediaries such as private associations. This case study focuses on what kinds of efforts the floral wholesale distributors have made to enable a distribution process more smoothly between the wholesale distributors and retail stores through the information system, and what the failure factors in adopting the information system have been. This paper is also to examine how the wholesale distributors have changed themselves to gain dominant positions in distribution channels. As a result of the study, it was found that the intermediaries mostly failed in successfully achieving the distribution channel innovation through the information system because of several main reasons. FLOMARKET Inc. tried to innovate a distribution channel to obtain high quality goods through consolidating a wholesale distribution market in that segregated both floral joint market from free markets. after implementing the information system with consideration of the failure factors, FLOMARKET Inc. was able to minimize goods in stock and make a major purchase of various goods. In addition, it made a possible pre-ordering process and an exact calculation of purchasing goods so they could provide their products with market price in real time, which helped for the company to gain credits from their customers. Also, FLOMARKET Inc. established the information system which well suited to its business stage in order to deal with a rapidly changing distribution environment. It's so obvious that the transaction processing system of FLOMARKET Inc. definitely helped to share information among traders more seamlessly and smoothly in realtime, standardize goods, and make a transaction process clearer. Besides, the transaction information helped the wholesale distributors and retail stores to make more strategic decisions in their business because through the system they enabled to gather the marketing intelligence information more easily and convenient. If we understand that the floral distribution market is characterized by the low IT- based industry, it's worth to examine a case study proving that the information system actually increases the productivity of the transaction process in the floral industry.