• Korean small business review
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• v.31 no.4
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• pp.67-93
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• 2009

The purpose of this paper is to explore the relations between financial constraints and dividend smoothing of innovative small and medium sized enterprises(SMEs) listed on Korea Securities Market and Kosdaq Market of Korea Exchange. The innovative SMEs is defined as the firms with high level of R&D intensity which is measured by (R&D investment/total sales) ratio, according to Chauvin and Hirschey (1993). The R&D investment plays an important role as the innovative driver that can increase the future growth opportunity and profitability of the firms. Therefore, the R&D investment have large, positive, and consistent influences on the market value of the firm. In this point of view, we expect that the innovative SMEs can adjust dividend payment faster than the noninnovative SMEs, on the ground of their future growth opportunity and profitability. And also, we expect that the financial unconstrained firms can adjust dividend payment faster than the financial constrained firms, on the ground of their financing ability of investment funds through the market accessibility. Aivazian et al.(2006) exert that the financial unconstrained firms with the high accessibility to capital market can adjust dividend payment faster than the financial constrained firms. We collect the sample firms among the total SMEs listed on Korea Securities Market and Kosdaq Market of Korea Exchange during the periods from January 1999 to December 2007 from the KIS Value Library database. The total number of firm-year observations of the total sample firms throughout the entire period is 5,544, the number of firm-year observations of the dividend firms is 2,919, and the number of firm-year observations of the non-dividend firms is 2,625. About 53%(or 2,919) of these total 5,544 observations involve firms that make a dividend payment. The dividend firms are divided into two groups according to the R&D intensity, such as the innovative SMEs with larger than median of R&D intensity and the noninnovative SMEs with smaller than median of R&D intensity. The number of firm-year observations of the innovative SMEs is 1,506, and the number of firm-year observations of the noninnovative SMEs is 1,413. Furthermore, the innovative SMEs are divided into two groups according to level of financial constraints, such as the financial unconstrained firms and the financial constrained firms. The number of firm-year observations of the former is 894, and the number of firm-year observations of the latter is 612. Although all available firm-year observations of the dividend firms are collected, deletions are made in the case of financial industries such as banks, securities company, insurance company, and other financial services company, because their capital structure and business style are widely different from the general manufacturing firms. The stock repurchase was involved in dividend payment because Grullon and Michaely (2002) examined the substitution hypothesis between dividends and stock repurchases. However, our data structure is an unbalanced panel data since there is no requirement that the firm-year observations data are all available for each firms during the entire periods from January 1999 to December 2007 from the KIS Value Library database. We firstly estimate the classic Lintner(1956) dividend adjustment model, where the decision to smooth dividend or to adopt a residual dividend policy depends on financial constraints measured by market accessibility. Lintner model indicates that firms maintain stable and long run target payout ratio, and that firms adjust partially the gap between current payout rato and target payout ratio each year. In the Lintner model, dependent variable is the current dividend per share(DPS_t), and independent variables are the past dividend per share(DPS_t-1) and the current earnings per share(EPS_t). We hypothesized that firms adjust partially the gap between the current dividend per share(DPS_t) and the target payout ratio(Ω) each year, when the past dividend per share(DPS_t-1) deviate from the target payout ratio(Ω). We secondly estimate the expansion model that extend the Lintner model by including the determinants suggested by the major theories of dividend, namely, residual dividend theory, dividend signaling theory, agency theory, catering theory, and transactions cost theory. In the expansion model, dependent variable is the current dividend per share(DPS_t), explanatory variables are the past dividend per share(DPS_t-1) and the current earnings per share(EPS_t), and control variables are the current capital expenditure ratio(CEA_t), the current leverage ratio(LEV_t), the current operating return on assets(ROA_t), the current business risk(RISK_t), the current trading volume turnover ratio(TURN_t), and the current dividend premium(DPREM_t). In these control variables, CEA_t, LEV_t, and ROA_t are the determinants suggested by the residual dividend theory and the agency theory, ROA_t and RISK_t are the determinants suggested by the dividend signaling theory, TURN_t is the determinant suggested by the transactions cost theory, and DPREM_t is the determinant suggested by the catering theory. Furthermore, we thirdly estimate the Lintner model and the expansion model by using the panel data of the financial unconstrained firms and the financial constrained firms, that are divided into two groups according to level of financial constraints. We expect that the financial unconstrained firms can adjust dividend payment faster than the financial constrained firms, because the former can finance more easily the investment funds through the market accessibility than the latter. We analyzed descriptive statistics such as mean, standard deviation, and median to delete the outliers from the panel data, conducted one way analysis of variance to check up the industry-specfic effects, and conducted difference test of firms characteristic variables between innovative SMEs and noninnovative SMEs as well as difference test of firms characteristic variables between financial unconstrained firms and financial constrained firms. We also conducted the correlation analysis and the variance inflation factors analysis to detect any multicollinearity among the independent variables. Both of the correlation coefficients and the variance inflation factors are roughly low to the extent that may be ignored the multicollinearity among the independent variables. Furthermore, we estimate both of the Lintner model and the expansion model using the panel regression analysis. We firstly test the time-specific effects and the firm-specific effects may be involved in our panel data through the Lagrange multiplier test that was proposed by Breusch and Pagan(1980), and secondly conduct Hausman test to prove that fixed effect model is fitter with our panel data than the random effect model. The main results of this study can be summarized as follows. The determinants suggested by the major theories of dividend, namely, residual dividend theory, dividend signaling theory, agency theory, catering theory, and transactions cost theory explain significantly the dividend policy of the innovative SMEs. Lintner model indicates that firms maintain stable and long run target payout ratio, and that firms adjust partially the gap between the current payout ratio and the target payout ratio each year. In the core variables of Lintner model, the past dividend per share has more effects to dividend smoothing than the current earnings per share. These results suggest that the innovative SMEs maintain stable and long run dividend policy which sustains the past dividend per share level without corporate special reasons. The main results show that dividend adjustment speed of the innovative SMEs is faster than that of the noninnovative SMEs. This means that the innovative SMEs with high level of R&D intensity can adjust dividend payment faster than the noninnovative SMEs, on the ground of their future growth opportunity and profitability. The other main results show that dividend adjustment speed of the financial unconstrained SMEs is faster than that of the financial constrained SMEs. This means that the financial unconstrained firms with high accessibility to capital market can adjust dividend payment faster than the financial constrained firms, on the ground of their financing ability of investment funds through the market accessibility. Futhermore, the other additional results show that dividend adjustment speed of the innovative SMEs classified by the Small and Medium Business Administration is faster than that of the unclassified SMEs. They are linked with various financial policies and services such as credit guaranteed service, policy fund for SMEs, venture investment fund, insurance program, and so on. In conclusion, the past dividend per share and the current earnings per share suggested by the Lintner model explain mainly dividend adjustment speed of the innovative SMEs, and also the financial constraints explain partially. Therefore, if managers can properly understand of the relations between financial constraints and dividend smoothing of innovative SMEs, they can maintain stable and long run dividend policy of the innovative SMEs through dividend smoothing. These are encouraging results for Korea government, that is, the Small and Medium Business Administration as it has implemented many policies to commit to the innovative SMEs. This paper may have a few limitations because it may be only early study about the relations between financial constraints and dividend smoothing of the innovative SMEs. Specifically, this paper may not adequately capture all of the subtle features of the innovative SMEs and the financial unconstrained SMEs. Therefore, we think that it is necessary to expand sample firms and control variables, and use more elaborate analysis methods in the future studies.

• Korean Journal of Agricultural Science
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• v.15 no.1
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• pp.47-68
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• 1988

This study was conducted to define the optimal conditions for embryo growth during seed stratification and for breaking dormancy as well as seed germination of stratified ginseng seeds. The experiments were also carried out to detect some materials which were expected to induce seed dormancy in the ginseng seeds. The results summarized as follows; 1. The growth of embryo during seed stratification was significantly inhibited by the existence of endocarp. The fastest embryo growth was resulted at $15^{\circ}C$ and an estimated optimal temperature for embryo growth was about $18^{\circ}C$. 2. There was no significant difference between the embryo growth and germination ratio of ginseng seeds which were sown in seed bed at Aug-5 without seed stratification and that of artificial seed stratification. 3. Embryo growth and germination ratio was significantly inhibited by high temperature treatment at $30^{\circ}C$ for 24 hours or respiration stress by immersing seeds in water for 10 days or more. 4. When the seed stratification was started at $10^{\circ}C$, growth of embryo in the ginseng seeds were almost stopped. But, when the seeds were stratified first at $20^{\circ}C$ for 50 days and next at $10^{\circ}C$ for 50 days, the embryo growth was significantly promoted compared with the embryo growth in the seeds which were stratified at $20^{\circ}C$ for 100 days. 5. The successive embryo growth after seed stratification was significantly accelerated at $10^{\circ}C$ but the seeds chilled at $5^{\circ}C$ for 100 days were resulted in the highest germination ratio as well as the shortest days for germination. 6. The successive embryo growth during chilling treatment and seed germination were significantly inhibited by immersing seeds in water just before chilling treatment or during chilling treatment and by interruption of chilling treatment with raising temperature to $20^{\circ}C$ for 20 days during chilling treatment. 7. The germination ratio of ginseng seeds which finished chilling treatment was highest at $10^{\circ}C$ and 62.5% was the estimated soil moisture for the best germination of ginseng seeds. The ginseng seeds were found to require high amount of oxygen for germination. 8. Only water soluble material in homogenized ginseng seeds showed a significant inhibiting effect on the seed germination of sesame, millet and soybean. Water soluble material dissolved from undehisced ginseng seeds showed stronger inhibiting effect on the seedling growth of sesame than material from dehisced ginseng seeds. Extraction temperature did not influence the inhibiting effect of the material dissolved from ginseng seeds on the seedling growth of sesame. 9. Water soluble materials dissolved from the berry pulps, leaves, fresh roots and dried roots also showed a significant inhibiting effect on the seedling growth of sesame. 10. Water soluble materials dissolved from the ginseng seeds, leaves and fresh roots showed a significant inhibiting effect on the germination of true fungi and the growth of spawn but the growth of phytopathogenic bacteria was not. 11. Among the water soluble materials dissolved from ginseng seeds, the materials of low molecular weight less than 3,000 were resulted a significant inhibiting effect on the seedling growth of sesame and the materials of high molecular weight also showed an inhibiting effect.

• Cartoon and Animation Studies
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• s.37
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• pp.361-392
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• 2014

Regarding works that express objects realistically in painting, Gustave Courbet advocated realism in the mid-19th century, France, resisting the then academist style of painting, and works in realist style were produced in earnest by painters such as H. Daumier or Jean F. Millet, who went along with him. Later, realism has expanded into the realm of general literature, including fine art, which has had profound impacts on works of art and literary works. In comics, too, in the same historical context as a form of painting, realistic comics began to be produced by painters or cartoonists at the time. These realism comics are those dealing with stories based on facts, and in terms of contents, objective description and representation of the social realities of the times is one of the most important objectives, but it could not be concluded that in their visual aspect, that is, that of expressing the objects, they were realistic. In the meantime, a graphic novel was born, which was the intermediate form between comics and novels around the United States and Europe since the 1980s. Graphic novels appeared in forms and styles with strong literary and artistic values in the comics market in the U.S. which was full of the superhero genre (comics around heroes), and their major characteristics are very realistic expressions in terms of contents and visual aspect. They are complex and delicate and even have artistic, literary values as if readers read a fiction or literary work of which its narrative structures or pictures are produced with graphics. The characteristics of realistic expressions shown in graphic novels are very different from the previous works of comics. It is noteworthy that they began to be acknowledged as works of art like painting or illustration, thanks to their features of strongly individual auteurist painting style, a fairly high degree of completion of the works, and creative and experimental expression techniques or methods, instead of following the fashion of the times. In recent years, in South Korea, Hollywood blockbuster films have been released one after another and become box office hits, there are increasing interest and demand for the original graphic novels. Accordingly, many original graphic novels have been translated and started to be sold, and keeping pace with this global flow of fashion, some writers in Korea began to produce works of graphic novels. However, to look into the domestic works produced claiming to be graphic novels, there are various opinions on their format and authenticity. In this sense, this study focused on Ga-ya Kwon's Namhansanseong, one the representative works of Korean style graphic novels, and in particular, it attempted to analyze their characteristics and commonalities focusing on the visual aspect of realistic expressions of objects. It is expected that there would be an opportunity to seek for ways so that Korean style graphic novel can be further developed as a genre of comics, with competitiveness by looking back on the identity and present state of domestic graphic novels and developing and applying Korea's original subject matters differentiated from those of graphic novels in the U.S., Europe or Japan through this study. In addition, it is desired that they will be a new energizer for the stagnant domestic comics market.

• KDI Journal of Economic Policy
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• v.12 no.3
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• pp.27-45
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• 1990

Two opposing views prevail regarding the economic impact of rural out-migration on the rural areas of origin. The optimistic neoclassical view argues that rapid rural out-migration is not detrimental to the income and welfare of the rural areas of origin, whereas Lipton (1980) argues the opposite. We developed our own alternative model for rural to urban migration, appropriate for rapidly developing economies such as Korea's. This model, which adopts international trade theories of nontraded goods and Dutch Disease to rural to urban migration issues, argues that rural to urban migration is caused mainly by two factors: first, the unprofitability of farming, and second, the decrease in demand for rural nontraded goods and the increase in demand for urban nontraded goods. The unprofitability of farming is caused by the increase in rural wages, which is induced by increasing urban wages in booming urban manufacturing sectors, and by the fact that the cost increases in farming cannot be shifted to consumers, because farm prices are fixed worldwide and because the income demand elasticity for farm products is very low. The demand for nontraded goods decreases in rural and increases in urban areas because population density and income in urban areas increase sharply, while those in rural areas decrease sharply, due to rapid rural to urban migration. Given that the market structure for nontraded goods-namely, service sectors including educational and health facilities-is mostly in monopolistically competitive, and that the demand for nontraded goods comes only from local sources, the urban service sector enjoys economies of scale, and can thus offer services at cheaper prices and in greater variety, whereas the rural service sector cannot enjoy the advantages offered by scale economies. Our view concerning the economic impact of rural to urban migration on rural areas of origin agrees with Lipton's pessimistic view that rural out-migration is detrimental to the income and welfare of rural areas. However, our reasons for the reduction of rural income are different from those in Lipton's model. Lipton argued that rural income and welfare deteriorate mainly because of a shortage of human capital, younger workers and talent resulting from selective rural out-migration. Instead, we believe that rural income declines, first, because a rapid rural-urban migration creates a further shortage of farm labor supplies and increases rural wages, and thus reduces further the profitability of farming and, second, because a rapid rural-urban migration causes a further decline of the rural service sectors. Empirical tests of our major hypotheses using Korean census data from 1966, 1970, 1975, 1980 and 1985 support our own model much more than the neoclassical or Lipton's models. A kun (county) with a large out-migration had a smaller proportion of younger working aged people in the population, and a smaller proportion of highly educated workers. But the productivity of farm workers, measured in terms of fall crops (rice) purchased by the government per farmer or per hectare of irrigated land, did not decline despite the loss of these youths and of human capital. The kun having had a large out-migration had a larger proportion of the population in the farm sector and a smaller proportion in the service sector. The kun having had a large out-migration also had a lower income measured in terms of the proportion of households receiving welfare payments or the amount of provincial taxes paid per household. The lower incomes of these kuns might explain why the kuns that experienced a large out-migration had difficulty in mechanizing farming. Our policy suggestions based on the tests of the currently prevailing hypotheses are as follows: 1) The main cause of farming difficulties is not a lack of human capital, but the in­crease in production costs due to rural wage increases combined with depressed farm output prices. Therefore, a more effective way of helping farm economies is by increasing farm output prices. However, we are not sure whether an increase in farm output prices is desirable in terms of efficiency. 2) It might be worthwhile to attempt to increase the size of farmland holdings per farm household so that the mechanization of farming can be achieved more easily. 3) A kun with large out-migration suffers a deterioration in income and welfare. Therefore, the government should provide a form of subsidization similar to the adjustment assistance provided for international trade. This assistance should not be related to the level of farm output. Otherwise, there is a possibility that we might encourage farm production which would not be profitable in the absence of subsidies. 4) Government intervention in agricultural research and its dissemination, and large-scale social overhead projects in rural areas, carried out by the Korean government, might be desirable from both efficiency and equity points of view. Government interventions in research are justified because of the problems associated with the appropriation of knowledge, and government actions on large-scale projects are justified because they required collective action.

• Korean Journal of Head & Neck Oncology
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• v.6 no.2
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• pp.79-84
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• 1990

This paper is a review of our experience with radical resection for cancer of the oral cavity with particular emphasis upon the value of myocutaneous(i.e., musculocutanous) flaps employed in the surgical reconstruction in patient survival. During the past 15 years, 98 patients underwent resection of cancer arising in the oral cavity and oropharynx. Of these, 14 had composite resections in which the mandible was not sectioned, and 4 underwent en bloc resections without neck dissections in the face of post-radiation recurrence. When these excluded, 84 patients who underwent COMMANDO procedures with or without myocutaneous flaps were suitable for analysis of recurrence and survival according to the various surgical technics employed. 1) According to the surgical technic, there were 24 standard COMMANDO procedures in whom no regional or myocutanous flap was used; 12 patients who underwent reconstruction employing a forehead flap; 19 patients in whom a posterior cervical 'nape' flap was employed; 27 patients who underwent myocutaneous or osteo-myocutaneous flap repair; and two patients who had double flap repair. 2) The uncorrected two-year disease free survival was 41% for standard COMMANDOs, 17% for forehead flap COMMANDOs; 35% for nape flap COMMANDOs; and 35% for myocutaneous flap COMMANDO procedures. 3) The two-year disease-free survival by Stage was 100% in Stage I, 45% in Stage II, 41% in Stage III, and 18% in Stage IV. 4) When myocutanous flaps cases were compared with Group I, comprised of matched historical controls including both Standard COMMANDOs and those who had undergone regional flap repairs(that is, forehead and nape flap COMMANDOs)there was no difference, both groups showing a 40% 2-year disease-free survival. 5) When musculocutanous flap cases were compared with Goup II, which was composed of matched historical controis limited to patients who had undergone regional flap repairs(that is, forehead and nape flap cases only)there was no difference, both groups showing a 27% 2-year desease-free survival. 6) When musculocutanous flap cases were compared with Group III, composed of patients who had undergone classic COMMANDO procedures without any sort of flap repair, there was a striking difference; the patients undergoing MC flap repair showed 50% 2-year disease-free survival, whereas the classic COMMANDO cases showed a 25% survival free of disease. 7) Locoregional recurrence was also evaluated in the four categories; for standard COMMANDO cases it was 25%, for nape flap cases 26% ; for forehead flap cases, 33%, and for the musculocutaneous flap cases, the lowest recurrence rate, 22%. These results are of particular significance in view of the fact that the proportion of advanced cases(Stage III and IV)in each category was 67% of standard cases, 79% of nape flap patients, 100% of forehead flap cases, and 96% of musculocutaneous flap cases.

• Journal of Food Hygiene and Safety
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• v.21 no.2
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• pp.100-106
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• 2006

The use of underarm and body care cosmetics with oestrogenic chemical excipients (particularly the parabens) and the hypothesized association with breast cancer incidence, particularly in women. It is noted that the type of cosmetic product is irrelevant (e.g. antiperspirant/deodorant versus body lotion, moisturizers or sprays versus creams) and attention must focus on issues of actual exposure to chemicals through continued dermal application of body care products and the endocrine/hormonal activity and toxicity of the chemicals in the formulations. To evaluate the estrogenic activities of parabens such as ethylparaben, butylparaben, propylparaben, isobutylparaben and isopropylparaben, we used recombinant yeasts containing the human estrogen receptor [Saccharomyces cerevisiae ER+LYS 8127], human breast cancer MCF-7 cell lines and human estrogen receptor ${\alpha}\;and\;{\beta}$. In E-screen assays, isopropylparaben is the most estrogenic paraben, and in ER competition assay, isobutylparaben is the most estrogenic paraben. We evaluated isopropylparaben was most active in the recombinant yeast assay, followed by propylparaben, ethylparaben, isobutylparaben and butylparaben. Results from this study demonstrate that parabens are observed in human endocrine system. Therefore, we have shown that the parabens is induced the estrogenic activities similar to $17{\beta}$-estradiol and Bisphenol-A.

• The korean journal of orthodontics
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• v.36 no.5
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• pp.339-348
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• 2006

Objective: With development of the skeletal anchorage system, orthodontic mini-implant (OMI) assisted on masse sliding retraction has become part of general orthodontic treatment. But compared to the emphasis on successful anchorage preparation, the control of anterior teeth axis has not been emphasized enough. Methods: A 3-D finite element Base model of maxillary dental arch and a Lingual tipping model with lingually inclined anterior teeth were constructed. To evaluate factors influencing the axis of anterior teeth when OMI was used as anchorage, models were simulated with 2 mm or 5 mm retraction hooks and/or by the addition of 4 mm of compensating curve (CC) on the main archwire. The stress distribution on the roots and a 25000 times enlarged axis graph were evaluated. Results: Intrusive component of retraction force directed postero-superiorly from the 2 mm height hook did not reduce the lingual tipping of anterior teeth. When hook height was increased to 5 mm, lateral incisor showed crown-labial and root-lingual torque and uncontrolled tipping of the canine was increased.4 mm of CC added to the main archwire also induced crown-labial and root-lingual torque of the lateral incisor but uncontrolled tipping of the canine was decreased. Lingual tipping model showed very similar results compared with the Base model. Conclusion: The results of this study showed that height of the hook and compensating curve on the main archwire can influence the axis of anterior teeth. These data can be used as guidelines for clinical application.

• The Korean Journal of Air & Space Law and Policy
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• v.32 no.1
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• pp.225-285
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• 2017

In regard to the regulations related to the RPA(Remotely Piloted Aircraft), which is sometimes called in other countries as UA(Unmanned Aircraft), ICAO stipulates the regulations in the 'RPAS manual (2015)' in detail based on the 'Chicago Convention' in 1944, and enacts provisions for the Rules of UAS or RPAS. Other contries stipulates them such as the Federal Airline Rules (14 CFR), Public Law (112-95) in the United States, the Air Transport Act, Air Transport Order, Air Transport Authorization Order (through revision in "Regulations to operating Rules on unmanned aerial System") based on EASA Regulation (EC) No.216/2008 in the case of unmanned aircaft under 150kg in Germany, and Civil Aviation Act (CAA 1998), Civil Aviation Act 101 (CASR Part 101) in Australia. Commonly, these laws exclude the model aircraft for leisure purpose and require pilots on the ground, not onboard aricraft, capable of controlling RPA. The laws also require that all managements necessary to operate RPA and pilots safely and efficiently under the structure of the unmanned aircraft system within the scope of the regulations. Each country classifies the RPA as an aircraft less than 25kg. Australia and Germany further break down the RPA at a lower weight. ICAO stipulates all general aviation operations, including commercial operation, in accordance with Annex 6 of the Chicago Convention, and it also applies to RPAs operations. However, passenger transportation using RPAs is excluded. If the operational scope of the RPAs includes the airspace of another country, the special permission of the relevant country shall be required 7 days before the flight date with detail flight plan submitted. In accordance with Federal Aviation Regulation 107 in the United States, a small non-leisure RPA may be operated within line-of-sight of a responsible navigator or observer during the day in the speed range up to 161 km/hr (87 knots) and to the height up to 122 m (400 ft) from surface or water. RPA must yield flight path to other aircraft, and is prohibited to load dangerous materials or to operate more than two RPAs at the same time. In Germany, the regulations on UAS except for leisure and sports provide duty to avoidance of airborne collisions and other provisions related to ground safety and individual privacy. Although commercial UAS of 5 kg or less can be freely operated without approval by relaxing the existing regulatory requirements, all the UAS regardless of the weight must be operated below an altitude of 100 meters with continuous monitoring and pilot control. Australia was the first country to regulate unmanned aircraft in 2001, and its regulations have impacts on the unmanned aircraft laws of ICAO, FAA, and EASA. In order to improve the utiliity of unmanned aircraft which is considered to be low risk, the regulation conditions were relaxed through the revision in 2016 by adding the concept "Excluded RPA". In the case of excluded RPA, it can be operated without special permission even for commercial purpose. Furthermore, disscussions on a new standard manual is being conducted for further flexibility of the current regulations.

• Journal of Korean Society of Forest Science
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• v.30 no.1
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• pp.8-18
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• 1976

This study was carried out to exploit and utilize the exotic American Sycamore(Platanus occidentalis) grown in Korea as a veneer species for plywood manufacture. At present most parts of veneer Legs used in Korea were depended entirely upon the gonus Shorea woods(lauan logs) imported from Southeast Asia region. To decrease manufacturing cost and save imported lauan veneer logs, the effects on properties affecting to the six types of plywood made from proper veneer constructions composed by domestic American Sycamore and imported lauan veneers were compared and discussed. The study has important meanings for the promotion of plywood manufacture by domestic materials. Important items dealt with this study were dry and wet shear strength, moisture contents, specific gravties, and bending strength. By the results and discussions it may be summarized as follows: 1) In dry shear strength platanus(sycamore) core lauan plywood was shown most excellent strong results, and next orders were all lauan plywood, platanus faced lauan plywood, lauan core platanus plywood, lauan faced platanus plywood, and all platanus plywood. There was no difference between platanus core lauan plywood and all lauan plywood, but the differences between those plywoods and the other types of plywood were recognized. 2) In wet shear strength platanus core lauan plywood was shown excellent result the same as dry strength. The difference between platanus core lauan plywood and the other types of plywood was shown, but among the other types of plywood except platanus core lauan plywood were not recognized. 3) The differences among moisture contents according to the veneer construction were not recognized. 4) The plywood constructed by two or more sheets of lauan veneer was shown lower specific gravities than the plywood constructed by two or more sheets of platanus veneer. It is believed that this tendency due to the original specific gravities of veneer before construction. 5) The differences among specific gravities of lauan core platanus plywood, all platanus plywood and lauan faced platanus plywood were not recognized, and like this analyzed result among platanus core lauan plywood, all lauan plywood and platanus faced lauan plywood were not recognized. Accordingly it is believed that the differences are not shown among the plywood constructed by two or more veneers of same species. 6) In bending strength platanus core lauan plywood was shown most excellent values. Next orders were all lauan plywood, platanus faced lauan plywood and the other types of plywood. The differences among the plywood constructed by two or veneers of lauan were shown, but not shown among the plywood constructed by tow or more veneers of platanus.

• Horticultural Science & Technology
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• v.34 no.2
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• pp.269-281
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• 2016

The statistical analyses of coefficient of variation, heritability, and genetic advance were carried out to identify differences in morphological characteristics, such as the stem and inflorescence length, of 10 major commercial cultivars of spray chrysanthemum (Chrysanthemum morifolium). For morphological characteristics, stem lengths ranged from 46.4 cm to 54.9 cm, the maximum diameter of stem was 5.6 to 8.5 mm, the hardness of the stem was 0.17 to $0.70kg{\cdot}m^{-2}$, the fresh weight of stem was 7.5 to 17.5 g, the dry weight of the stem was 1.6 to 3.3 g, the ratio of dry weight/fresh weight of stem was 15.9% to 23.1%. Also, the number of leaves on the stem was 8.4 to 12.2, the stem leaf area was 17.8 to $37.8m^2$, the fresh weight stem leaves was 5.3 to 18.6 g, the dry weight was 0.5 to 1.4 g and the ratio of dry weight /fresh weight of stem leaves was 7.6% to 11.5%. The inflorescence length ranged from 10.1 to 18.6 cm, the fresh weight of inflorescence was 7.3 to 26.7 g, the dry weight of inflorescence was 1.2 to 2.8 g, the ratio of dry weight /fresh weight of inflorescence was 10.4% to 17.1%. For flower, the diameter of the flower center was 8.2 to 13.3 mm, the petal width was 5.7 to 14.0 mm, the petal length was 12.9 to 33.1 mm, and the petal thickness was 157.8 to $354.4{\mu}m$. The mean values of each character in each cultivar were very different, and DMRT and LSD values based on morphological characteristics among 10 cultivars were highly significant. For variability and genetic parameters, the lowest CV (coefficient of variation), PCV (phenotypic coefficient of variation), and GCV (genotypic coefficient of variation) were 4.79% to 5.15% in stem length, and the highest variations were 62.97% to 65.21% in leaf area. ECV (error or environmental coefficient of variation) was the lowest for leaf area (1.71%) and it was the highest for leaf dry weight (19.30%). Heritability also significantly differed among the characteristics, ranging from 68.69% to 99.67%, the lowest value was shown in ratio of dry weight /fresh weight of stem and the highest value was for leaf area of stem. The value for genetic advance was the lowest in hardness of stem at 0.30 and the highest in leaf thickness at 156.65. The lowest genetic advance as percentage of mean of stem hardness was 9.17%, while the highest percentage of stem length was 134.27%. Thus the characters which had the highest values indicated above show the influence of additive gene action and may provide useful resources for selection programs for agronomic improvement.