• The Korean Journal of Financial Management
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• v.25 no.2
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• pp.33-68
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• 2008

The purpose of this paper is to test the market timing hypothesis and impact of macro economic variables on capital structure choice as well as the traditional static trade-off and pecking order theories of capital structure in a integrated framework. Through a two stage test of target capital structure and capital structure choice, none of theories was consistently supported, but most of them were partly supported. In the first stage analysis of target ratio, coefficients of firm-specific variables generally supported the predictions of pecking order theory rather than those of the static trade-off theory. However, the result of the second stage test on capital structure choice supported the hypothesis of the static trade-off theory, which claims that firms usually set and pursue the target leverage ratio. Further, the result of the seconde stage shows that a simple pecking oder theory does not hold because firms with deficit of internal fund tend to issue bonds rather than stocks to raise outside fund. Also, the result indicates that the market timing hypothesis holds because firms with over-valued stocks tend to issue stocks rather than bonds. However, contrary to Korajczyk and Levy(2003), the impact of macro economic variables such as term or credit spreads on capital structure choice was negligible, and the impact of macro economic and market timing hypothesis variables were not greater in financially unconstrained firms as Korajczyk and Levy(2003) suggested.

• Journal of The Korean Association For Science Education
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• v.36 no.2
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• pp.347-360
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• 2016

This study focused on the use of student assessment activities to investigate the impact on reflective thinking in Argument-based Inquiry. The participants of the study were 166 10th grade students (six classes). Over one semester, students participated in five ABI programs that we developed. The experimental group (84 students) was taught Argument-Based Inquiry with students' self and peer assessment activities. The comparative group (82 students) was taught without the activities. We analyzed students' reflective writing to investigate how the student assessment activities influenced the students' reflective thinking. We also used the interviews and surveys to examine the validity of student assessment activities. According to analysis of the reflective writing, the experimental group had a significantly higher mean score than the comparative group in the 3rd and 5th writing. The ratio of students who showed a metacognitive level of reflection with regard to analysis of inquiry process, understanding of learning, and change of thinking increased in both groups, but the experimental group's ratio was higher than the comparative group's. The result of analysis of the reflective practice showed that the ratio of the experimental group's students who reached the metacognitive level of reflection in their writing increased, while the comparative group's decreased. Therefore, we conclude that student assessment activities can create a learning environment that facilitates student participation, increases the students' engagement in the learning process, and can be used as a tool to scaffold learning.

• Journal of the Korean Chemical Society
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• v.62 no.5
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• pp.398-411
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• 2018

The purpose of this study is to investigate the effects of research project activities using the science writing heuristic on science inquiry abilities and attitudes toward science in high school students. For this purpose, we conducted the research project activities using the science writing heuristic consisting of questioning, experimental design, observation, argument and evidence, reading, and reflection steps for 73 students of the second year of science core course in high school in Jeonnam. In order to analyze the effects of the program, we surveyed the scientific inquiry ability and attitude toward science, investigated the perception of the research project class applying science writing heuristic, and conducted interviews when there was difficulty in interpreting the results. And the results of this study are as follows. First, among the science inquiry abilities, the score of Reasoning, Hypothesis setting, Finding variables, Operational definition, Experimental design, Graphing and data interpretation, Generalization was significantly improved statistically (p<.05), but the score of Expectation was not statistically significant (p>.05). Second, among the attitudes toward science, the score of 'Leisure interest in science', 'Enjoyment of science lessons', 'Career interest in science' was significantly improved statistically (p<.05). And the score of 'Attitude to scientific inquiry' decreased but it's not significant statistically. The high school research project applying science writing heuristic had a positive effect on scientific inquiry ability and scientific attitude but it could be burden to students because it is led by students in a form different from general science class for a long time. And so continuous study on research project that minimize these disadvantages and maximize their merits is needed.

• The Korean Journal of Financial Management
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• v.22 no.1
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• pp.1-36
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• 2005

In this study, we analyzed determinant factors of leverage ratio and debt maturity for Korean firms in the simultaneous equation system using 2SLS (two stage least square) method under assumption that two variables are jointly determined in the capital structure decision. As a result of the analysis, we found that leverage ratio and debt maturity are positively related. Also, as for determinant factors of debt maturity, agency cost hypothesis, asset maturity matching hypothesis, signalling and liquidity risk hypothesis are all generally supported, and further leverage ratio are significantly positively related with firm size, but negatively related with default risk. However, when we divided samples into groups according to bank debt level and Chaebul affiliation, with contrast to existing study which worked on similar issues with OLS, we found no evidence supporting the argument that the information asymmetry problem is less severe in firms with more bank debt, whereas information asymmetry and financial constraint problems are more severe in non-Chaebul affiliated firms.

• Journal of the Economic Geographical Society of Korea
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• v.19 no.4
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• pp.729-742
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• 2016

Socio-economic polarization in Korea partly due to recent globalization and industrial restructuring could reduce social mobility significantly through passing down educational achievement to one's children. Under the notion that residential segregation is geographical frame for the reproduction of educational inequality, this research investigates residential segregation by educational attainment and neighborhood disparity with a case study of Seoul. The statistical analyses employed local segregation measures such as Location Quotient and Local Moran's I and a variety of variables that reflect neighborhood characteristics. As a result, it found that there are sharp and clear contracts between low- and high-educational group concentrations/clusters particularly in terms of housing characteristics and educational facilities. This results provide some evidences that support the arguments about the causes of residential segregation by class in Korean Cities.

• Archives of design research
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• v.17 no.2
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• pp.471-478
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• 2004

The recent aesthetical argument has been focusing on the interrelation between art and media. Now media is a kind of creative activity and dynamic factor which comprises aesthetic perception in itself compared to that of the past linear thingking era that was just a means of proving presence. Norbert Bolz, a leading media-aesthetician, puts the emphasis on the transformation of image, not the its dupe. He urges that this artistic form does not deliver the image of object, but means the objectless image itself. Therefore creativity is caused by an effect of a optional technic in the stage of technological environment where is under the control of the non-linear thingking system. In this context, this essay investigates to confirm the above mentioned aestheical views by analyzing the computer based layer as an detailed example, and to illuminate the designers creative activity where is deemed to be under its radical influence. Therefore it can be dedicated to the extension of the theoretical background in design, bridging between two practices accor ding to the Bolz's notion that the new aesthetical concept should be accompanied by ' the Design Science ', that is centered on the new media.

• The Journal of the Korea Contents Association
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• v.17 no.6
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• pp.319-328
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• 2017

Earnings management is a collection of management decisions which firms do not report the true performance. Many prior studies suggest that earnings management could be the results of either managerial earnings management or manager's private information for future performance. This study attempts to delve into the fundamental implications inherent in earnings management by analyzing how earnings management affects future firm performance in public institutions. If discretionary accruals as a measurement of earnings management embrace manager's private information, it will have a positive effect on future performance in succeeding period. In contrast, if discretionary accruals embrace manager's opportunistic earnings management, it will have a negative effect on future performance in succeeding period. Empirical findings are summarized as following.: Earnings managements are negatively associated with future firm performance for all succeeding period. This negative relationship continues for all succeeding period. The overall results can be serve as a evidence that the discretionary accruals capture opportunistic earnings management on average.

• Korean Journal of Logic
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• v.20 no.1
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• pp.1-19
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• 2017

In modern cosmology, it is controversial whether the existence of human consciousness can be used as evidence to support the hypothesis that many parallel universes are actualized. In this paper, we want to explore the nature of self-consciousness information that I am awake now. Consider the following experiment participating Al and Bob. We throw a fair coin on Sunday. If the coin lands heads we wake up just one of Al and Bob on Monday. If the coin lands tails we wake up both of Al and Bob. On Monday, at least one of Al and Bob will wake up, to what degree ought they believe that the outcome of the coin toss is heads? We will argue that the correct answer to this question is 1/3. To this end, we will argue the awakened person's information that "I am awake" is given to himself through a random procedure.

• Nuclear industry
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• v.35 no.9
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• pp.46-52
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• 2015

1975년 우라늄협회로 출발한 세계원자력협회(WNA)는 원자력을 평화적으로 이용하는 것을 적극 지원하고, 원자력 발전과 핵연료주기 전반에 걸친 원자력 산업 발전을 위하고자 설립한 세계적 민간 기구로, 우라늄 채광부터 변환, 농축, 핵연료 제조, 원자력발전 운영, 기자재(설비) 제작 및 사용후핵연료 처분에 이르기까지 원자력발전의 전 주기 산업을 촉진하고 관련 정보를 지원하고 있다. 2001년 지금의 명칭으로 변경한 WNA는 전 세계 원자력산업체와 원자력 관련 기관, 대학 등 175개 회원사를 두고 상호 협력과 전문 인력 교육 기반 강화, 국제화에 적극 나서고 있으며, 원자력산업 정보 제공과 교환을 위해 관련 보고서와 자료도 수시로 발행하고 있다. 2013년부터 WNA를 이끌고 있는 아그네타 라이징 사무총장은 지난 11월 영국 런던 소재 WNA를 방문한 <원자력신문>과의 인터뷰를 통해, 원전과 주변지역 주민의 갑상선암 발병에 대한 인과 관계에 대하여 "갑상선암 발병이 원전과 연관성 있다는 주장은 과학적 근거가 없다"고 단호히 말하고, "한국과 유사한 사례가 해외 원자력계(과학계)와 의학계에 보고된 적이 있냐"는 질문에 "해외에서 정상 운영되고 있는 원전 시설은 국제방사선방호위원회(ICRP)의 엄격한 기준(ICRP-60)이 적용하고 있으며, 방사선 방호와 관련된 연구보고서(논문)를 꾸준히 내고 있지만 원전 주변 주민에 대한 여러 역학 조사에서도 갑상선암이 증가했다는 사례는 보고된 바 없다"고 말했다. 또한 "실제로 일본 원폭 생존자 연구와 체르노빌 원전 주변 주민 연구에 의하면 20세 이상의 성인에서 방사선 노출에 의해 갑상선암이 증가한다는 증거는 없었다."면서 "체르노빌 사고와 후쿠시마 원전 사고 이후 방사선 누출로 인해 방사선이 갑상선암의 발생률을 증가시키는 것으로 알려졌지만 실제로 원전에서 발생하는 방사능은 갑상선암을 유발시킬 수 있는 양에 비해 아주 적다. 그럼에도 원전 시설에서 나오는 방사능 수치에 대해 제대로 밝히는 기관이 없기 때문에 원전 주변에 살아도 영향을 받는 것으로 오해할 수 있다."고 덧붙였다. 아그네타 라이징 사무총장은 스웨덴 출신의 방사선 방호 전문가로, 스웨덴 국영기업 Vattenfall AB 그룹에서 원자력 에너지 환경 분야 최고 전문가로 활동했으며, 스웨덴원자력학회, 유럽원자력학회, 세계여성원자력전문인회(WiN-Global) 회장 등을 역임했다. 인터뷰 전문을 게재한다.

• Journal of Korean Elementary Science Education
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• v.29 no.4
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• pp.505-514
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• 2010

This study aims to explore group inquiry using science writing heuristic in elementary school science. We observed and examined what elementary students experienced in their science classes and moreover how they used their data to support their claims in the view point of scientific epistemology. The research question of this study is 'what is the result of coherence measurement for figuring out the relationship between argument and ground in group inquiry activity?'. To solve the study question, one fifth-grade class at an elementary school was selected. Four lessons in group inquiry using a worksheet of science writing heuristic were videotaped and transcribed. It was found that the hours of group inquiry when students can discuss meaningfully occupied approximately 37 to 45%. When measuring coherence in each lesson by developing a scale from one to five to estimate the coherence of the work sheet designed, the total average was 3.424. It implicated that students had their claims supported by some of their evidences. Although the figure was not enough to assist that they found strong bonds between their claims and data, they started to move forward to epistemological approach in their science lab works.