• Proceedings of the Korean Society for Food Science of Animal Resources Conference
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• 2005.05a
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• pp.247-252
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• 2005

본 연구는 파슬리 등의 야채를 첨가하여 제조되는 화이트소시지의 물성 및 저장성에 미치는 자두 분말의 효과를 조사하기 위해 실시되었다. 물성의 변화로서 pH는 자두의 첨가율이 증가함에 따라 상대적으로 감소 하였는데 3% 첨 가시 전 저장 기간 중 가장 낮게 ($pH\;5.11\;{\sim}\;4.44$) 나타났다. 육색(meat color)은 자두의 첨가량에 비례하여 적색도(redness)를 나타내는 a-value에서 높게 나타났으며 명도 (light ness)를 나타내는 L-value에서는 상대적으로 낮은 수치를 보여주었다. 전단력(Shear stre ngth) 측정에서는 저장 기간 중 자두 분말의 첨가량에 비례 하여 근소한 차이를 나타냈는데 저장 7일째에서 가장 높았다. 자두 분말 첨가구 에서의 다소 높은 전단력의 결과는 보수력 (WHC) 측정 에서도 같은 경향을 나타내었는데 자두 분말의 증가량에 따라 3% 첨가구가 대조구 (0%)보다 낮게 나타나 약한 보수성을 보여 주었다. 저장성에 미치는 결과로서 총세균수의 측정결과 저장 3일이 경과한 구간에서 Sorbic acid (0.07%)의 첨가구와 자두 분말(3%) 첨가구 에서 비슷한 항균 효과를 나타내었다. 이 같은 동일한 수준의 항균 효과는 저장 9일째에도 같은 경향으로 나타났다. VBN 측정에는 저장 기간에 따라 증가된 수치를 나타냈는데 저장 7일 및 8일, 9일째 측정 결과는 3% 자두분말 첨가구와 0.07% Sorbic acid 첨가구 와 비슷한 수준을 나타내어 동일한 저장효과를 보여 주었다. 관능검사 실시 결과 총체적인 풍미에 있어서는 자두 분말 첨가구 1.5%가 가장 우수 했으며 다음으로는 3%, Sorbic acid 첨가구 및 공시료 순으로 나타났다.간에 유의차는 나타나지 않았다.pm을 spiking한 후 SPE상에서 SCX(Strong cation exchange column)을 통한 clean-up과정을 거친 후의 STP의 limit of quantification(LOQ)는 약 0.44ppm이었으며, 이에 대한 회수율은 89.7${\pm}$2.3%(n=6)를 나타냈다. 실제 CODEX에서 권장한 우유의 MRL이 0.6ppm인 점을 감안하면 CODEX권고치에 도달할 수 있는 것으로 판단되었다. 따라서 본 연구에서 개발 된 시험법은 지금까지 국내적으로 STP에 대한 시험법이 확립되어 있지 않은 것으로 이와 아울러 간편한 parallux와 병용해 STP에 대한 정량 및 정성 분석을 유도체화 장치 및 형광검출기를 이용해 잔류항생물질 STP에 대한 분석시험법을 개발하였다.화와 네트워크 조직망 구축을 위한 지역중심의 복합 생활문화 공간이 필요할 것이며, 이를 촉진키 위한 mentor academy시스템 접근을 통해 점점 고령화되어 가고 있는 재래시장에 대해 차별적 특성이 반영된 종합적이고 체계적 접근 방법연구가 필요하다./TEX> 자체기술개발, 선진기술 도입, 산업간 및 산업내 기술확산, 국제기술협력 ${\rightarrow}$ 기술혁신의 촉진 ${\rightarrow}$ 총요소생산성과 기업경쟁력(자원 및 역량, 프로세스 경쟁력, 품질경쟁력, 시장경쟁력, 고객성과, 시장성과, 재무성과)의 제고 ${\rightarrow}$ 가격경쟁력(임금, 금리, 물류비용, 환율 등)과 비(非)가격경쟁력(디자인, 에프터서비스, 품질, 운송 등)의 제고 ${\rightarrow}$ 국가경쟁력의 제고 ${\rig

• Journal of Digital Convergence
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• v.13 no.9
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• pp.57-75
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• 2015

The study introduces the case of initial adoption and convergence of accounting system under the K-IFRS by the quasi-government entity, the National Research Foundation of Korea(NRF). Followings are the methodology used in the study. (1) The study provides several accounting issues, their impact on the financial information of the NRF and implications about NRF's financial information in the course of convergence of accounting system under the K-IFRS. (2) As examples of accounting issues, the NRF reflected several accounting difference such as revaluation of fixed assets, economic useful life, depreciation method, reclassification of investment, representation of transfer revenue from the government, the timing of revenue recognition, and employ benefits, etc. As results of adjustments under the K-IFRS, the NRF decreased 1,109 billion of total assets and 1,064 billion of total liabilities. Also, increase in operating expenses results a slight decrease in net income, which may have an impact on future management evaluation of the NRF. A successful case of K-IFRS adoption by the NRF which brings deep insight on adoption and convergence of new accounting system to other quasi-government entity.

• International Area Studies Review
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• v.21 no.4
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• pp.247-268
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• 2017

This paper analyzes for companies of 2011~2014 the effects of corporate social responsibility on audit efficiency. Using KEJI Index and its individual components which is published by Citizens' Coalition for Economic Justice Institute, this paper analyzes their effects on audit efficiency of audit fees and audit hours. The results of analyses are as followings. First, corporate social responsibility(CSR) composite index did not show any significant relationship between audit fees and audit hours. However, for analyses of the effects of CSR individual components on audit efficiency, variable such as CSR fairness(CSR2), CSR social contribution(CSR3), CSR environmental protection activity(CSR5) have the negative effects on the audit fees and audit time. and CSR customer protection(CSR4), CSR employee satisfaction(CSR6) have the positive effects on the audit fees and audit time. Results suggest that independent auditors may reduce audit risks associated with possible misrepresentation of financial statements for companies with high scores of CSR fairness (CSR2), CSR social contribution(CSR3), and CSR environmental protection activity(CSR5). Also, financial statement auditors may perceive surge of discretionary expenses, and set audit risk high for companies with CSR customer protection(CSR4), and CSR employee satisfaction(CSR6). Together, KEJI Index and its individual components appear to have differential effects on audit efficiency.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.19 no.11
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• pp.157-165
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• 2018

Companies conduct R&D for continuous development and enhancement of corporate value, and obtain patents as an intangible asset resulting from this process. This study screened 103 medical device firms whose R&D information, patent information, and management performance information were all published to determine how R&D activities and patents affect corporate operational performance. The number of patents, R&D costs, company type and Inno-Biz of the company were set as independent variables, and the companies' sales, intangible assets, operating profit ratios, net profit margins, corporate ratings and profit-related financial ratios were used as dependent variables. The results confirmed that R&D expenditure had negative (-) effects on most indicators, including sales volume, operating profit ratio, and net profit ratio, while it had positive (+) [ED highlight - these are unnecessary if negative and positive are also written out.] effects only on intangible assets. Additionally, domestic patents were found to have negative (-) effects on sales, cash flow ratings, and dropped capital return, and positive (+) effects on net profit growth. Moreover, the business performance variables affected by the company characteristics were sales volume and cash flow ratings. The medical device industry is dominated by small and medium-sized businesses Although research and development activities and patents have been shown to have a negative impact on corporate management in the short term, they are expected to have a positive long-term impact when reflecting the characteristics of the medical device industry that must undergo clinical trials and authorization procedures after R&D.

• The Korean Journal of Franchise Management
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• v.3 no.2
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• pp.20-38
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• 2012

After being introduced into franchises industry, franchise has made a phenomenal growth in a short time and a substantial contribution to job creation and economic revitalization. Nevertheless, franchise business operators failed a business or low profit because of a lack of information and indiscriminate foundation. Therefore the first object of this study is characteristics of franchise's factors on disclosure agreement in franchise associate website. second is examinations about casual relationship between factor and franchise performance with using Excel and SPSS 18.0 versions. The findings of present study were as follows. First, franchises manage small business mostly(financial data, scale so on) and franchise's type focused the food service industry. Specially, a business district select unprotected contract. Second, in franchise's factors, we could find statistically significant effect on annual average sales and annual average net profit. However growth rate of franchise don't have statistically significant effect. Third, we could find statistically significant difference on analysis both franchises' factors and financial data. In conclusion, we must consider of franchise industry environment and success effect on performance in starting one's business. Furthermore franchises plan ways for their sustained growth and protection of rights and interests. Finally business operator draw up their information and upgrade continuously for franchises industry growth. Discussion and theoretical and managerial implications of the results were described along with future franchise research suggestions.

• The Korean Journal of Financial Management
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• v.25 no.1
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• pp.51-84
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• 2008

We investigate the signaling effect of repurchase preceding new equity issue using Korean data. In a short time span, firms announce stock repurchases and equity offerings. The proximity of two events in Korean firms indicates that those are not independent of each other. In this paper, we test the signaling effect of repurchase on equity offerings on the two measures. One is announcement effect, which is measured as CAR(0, +2). The other is the effectiveness which is measured as CAR(0, +30) because the price movement during this window influences on the price of new issues. Previous studies that stock repurchase convey positive signal to equity offerings-Billet and Xue(2004) and Jung(2004)-construct sample without the limit of time interval between two events. This causes the unclear relation between those because of the long time interval. In this study we consider only samples of being within one year each other to reduce this problem and clarify the signal of repurchase on equity offerings. Korean firms are allowed to repurchase own shares with two different method. One is direct repurchase as same as open market repurchase. The other is stock stabilization fund and stock trust fund which trust company or bank buy and sell their shares on the behalf of firms. Generally, the striking different characteristic between direct repurchase and indirect repurchase is following. Direct repurchase is applied by more strict regulation than indirect repurchase. Therefore, the direct repurchase is more informative signal to the equity offering than the indirect repurchase. We construct two sample firms- firms with direct repurchase preceding-equity offerings and indirect repurchase-preceding equity offering, and one control firms-equity offerings only firms-to investigate the announcement effect and the effectiveness of repurchases. Our findings are as follows. Direct repurchase favorably affect the price of new issues favorably. CAR(0, +2) of firms with direct repurchase is not different from that of equity offerings only firms but CAR(0, +30) is higher than that of equity offerings only firms. For firms with indirect repurchase and equity offerings, Both the announcement effect and the effectiveness does not exist. Jung(2004) suggest the possibilities of how indirect stock repurchase can be regarded as one of unfair trading practices on based on the survey results that financial managers of some of KSE listed firms have been asked of their opinion on the likelihood of the stock repurchase being used in unfair trading. This is not objective empirical evidence but opinion of financial managers. To investigate whether firms announce false signal before equity offerings to boost the price of new issues, we calculate the long-run performance following equity offerings. If firms have announced repurchase to boost the price of new issues intentionally, they would undergo the severe underperformance. The empirical results do not show the severer underperformance of both sample firms than equity offerings only firms. The suggestion of false signaling of repurchase preceding equity offerings is not supported by our evidence.

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

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

• The Journal of Small Business Innovation
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• v.20 no.1
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• pp.1-18
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• 2017

This study examined whether divided and spun-off companies design and execute spin-offs to minimize tax burdens by analyzing multiple spin-off transactions in the Dongbu Group, when the Korean tax law regarding corporate restructuring was amended in July 2010. Before the July 2010 tax amendment, taxes on the capital gains arising from the qualifying spin-off were deferred to the earlier of the shares in or assets acquired by the spun-off company are disposed. This tax treatment relieves the divided company's tax burden by deferring taxes on capital gains, compared with non-qualifying spin-offs. However, if shares in or assets acquired by the spun-off company are disposed after the July 2010 tax amendment, the capital gain incurred at the time of the qualifying spin-off would be taxed again at the spun-off company, in addition to a taxation on the divided company's capital gains. This creates double taxation implications for the parties involved in the spin-off. As a result, the double taxation may outweigh the benefit from the tax deferral on the qualifying spin-off, which may make a qualifying spin-off tax unfavorable. Among the four spin-off cases in the Dongbu Group addressed in this study, a spin-off occurred before the tax amendment, whereas three spin-offs occurred after the tax amendment. Initially, we expected that the spin-off before the tax amendment would be a qualifying spin-off, and the other three spin-offs would be non-qualifying spin-offs, considering the taxation rules before and after the July 2010 tax amendment. However, based on the review of summarized balance sheets disclosed in the spin-offs' corporate filings, no capital gains arose during the four spin-offs that occurred in the Dongbu Group. Therefore, we concluded that the Dongbu Group considered non-tax factors more than tax factors while designing and executing the spin-offs. The local media posited during this period that these spin-offs may intend to resolve financial issues in the Dongbu Group, and this analysis was supported by the fact that some shares in the new spun-off companies were sold by the Dongbu Group. Our case studies provide evidence that all costs, including both tax and non-tax costs, must be considered in the course of spin-offs, in addition to the tax burdens on all parties involved in the corporate restructuring, which parallels the work of Scholes et al. (2008). This study provides implications that various aspects should be considered and reviewed in advance when the management makes decisions for effective tax planning.