• Microbiology and Biotechnology Letters
• /
• v.19 no.3
• /
• pp.290-295
• /
• 1991

Direct conversion of raw starch without liquefaction to maltose using maltose-forming fungal a-amylase (Fungamyl) was carried out in an agitated bead enzyme reactor (bioattritor). The reaction rate in bioattritor was comparable with conventional method which utilized liquefied soluble starch. Moreover the extent of maltose formation increased substantially compared with conventional method; from 150 g / I of raw starch, around 95 g/l of maltose was formed and 72% of maltose content in sugar mixture was achieved. Especially, pH influenced greatly not only on total sugar formation from raw starch in bioattritor but also on maltose content in sugar mixture. The optimal pH for maltose formation from raw starch was shifted into the weak alkaline pH, the optimal pH of 8.0~9.0 in bioattritor contrast to pH of 5.0~5.5 for liquefied starch. The maltose formation and content were also affected by the amounts of Fungamyl added and raw starch concentration. Consumption of maltose-forming Fungamyl can be substantially reduced by supplementary addition of starch liquefying a-amylase (Termamyl).

• Journal of Intelligence and Information Systems
• /
• v.20 no.1
• /
• pp.103-119
• /
• 2014

In this paper, we investigate intellectual reaction differences among market participants to various corporate information announcements and the main information prompting investors to trade. Our research is based on IPO companies listed on the KOSDAQ exchange from January 2000 to September 2012 and concentrates on three information disclosures - bonus issue, seasoned equity offer, and new investment in facilities announcements. We find that intellectual market participants react positively to bonus issues and seasoned equity offers, but negatively to new investment announcements. Market trading volume increases before the positive events and all cgroups actively buy shares during these periods. For the negative events, only institution participants show active selling. Overall, institutions act as momentum traders, and individuals and foreigners as contrarian traders. We also discuss the implications of this study.

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

• Journal of the Korean Society of Food Science and Nutrition
• /
• v.25 no.2
• /
• pp.318-324
• /
• 1996

한국산 녹차의 효과적인 가공공정을 규명하기 위한 기초자료를 얻기 위하여, 컴퓨터를 이용한 실험실 규모의 열풍건조장치를 사용하여 채엽시기, 가열방법, 유념 및 건조온도 등에 따른 차엽의 건조상수와 수분 확산계수를 조사한 결과는 다음과 같다. 평균 건조상수는 1번 차엽은 0.356/hr, 2번 차엽은 0.425/hr, 3번차엽은 0.477/hr로서, 건조온도가 높고 채엽시기가 늦을수록 또 유념을 할수록 증가하였고, 건조 전에 열을 많이 받은 시료일수록 컸으며, 생차엽은 0.403/hr, 증자차엽은 0.418/hr, 덖음차엽은 0.438/hr였다. 수분확산계수는 온도가 높고 유념을 할수록 증가하였으며 시료의 두께 및 직경의 영향을 크게 받았는데, 생차엽, 증자차엽 및 덖음차엽의 경우 평균 $1.162$\times$$10^{-8}$\m^2/hr,$ $1.896$\times$$10^{-8}$\m^2/hr$ $1.958$\times$$10^{-8}$\m^2/hr로서$ 생차엽에서 상당히 작았다. 또한 잎과 줄기의 평균확산 계수는 평균 $7.00$\times$$10^{-9}$\m^2/hr와$ $1.130$\times$$10^{-7}$\m^2/hr로서$ 줄기 쪽이 훨씬 컸다. 한편 수분확산의 활성화 에너지는 생차엽, 증자차엽 및 덖음차엽의 경우 평균 9.50, 9.48 및 9.51kcal/mol였고, 잎과 줄기의 경우는 평균 10.33과 8.67kcal/mol였다.

• Journal of the Korean Society of Food Science and Nutrition
• /
• v.31 no.1
• /
• pp.75-80
• /
• 2002

The growth inhibition by nisin-Producing lactococci against Bacillus subtilis and its application to doenjang fermentation were investigated. Lactococcus lactis subsp. lactis IFO 12007, L. lactis subsp. lactis ATCC 7962 and L. lactis subsp. lactis ATCC 11454 were used as nisin-producing lactococci. All of three strain rapidly proliferated to more than 10$^{9}$ CFU/g in steamed soybeans. Only L. lactis subsp. lactis IFO 12007 was in steamed soybean without any pH decrease. In spite of the mild decrease in pH, the growth of B. subtilis was completely inhibited; no living cells were detected in a soybean sample inoculated with 10$^{6}$ CFU/g and incubated for 24 to 72h. The L. lactis subsp. lactis IFO 12007 was applied to doenjang fermentation as a starter culture. It produced high nisin activity in steamed soybean, resulting in the complete growth inhibition of B. subtilis, which had been inoculated at the beginning of the meju fermentation, throughout the process of doenjang production. Over-acidification, which is undesirable for doenjang quality, was successfully prevented simply by adding salt which killed the salt-intolerant L. lactis subsp. lactis IFO 12007. Furthermore, the nisin activity in doenjang disappeared with aging.

• Management & Information Systems Review
• /
• v.32 no.2
• /
• pp.21-46
• /
• 2013

The purpose of this paper is to find impacts of financial activities-financing and investment of Venture Firms during pre-listing periods on the firms' Venture Firm's listing(delisting). The several ratios financial variables relevant to the financing and investment were examined whether there are difference or not between two venture firms groups. The results of study can be summarized as follows. First, the firms of successful group have fewer numbers of equity financing and higher times of premium in issuing stocks than those of failed firms but there is no significant difference in the required time from startup to listing the KOSDAQ. Second, there is no significant difference in the ratio of capital increase in IPO between two groups but additional survey reveals that the successful firms financed equity in IPO by higher numbers of premium than failed firms, which can makes the major shareholder of the successful firms maintain high rayios share of stock. Third, the ratio of working capital investment of the successful firms is significantly higher than that of failed firms, on the other hand the failed firms' ratios of equipment and repayment investment are higher than those of successful firms. Finally, the ratio of R&D investment has no difference between two groups, this result is against the expectation, which is to be further analyzed.

• Korean Journal of Food Science and Technology
• /
• v.43 no.6
• /
• pp.683-688
• /
• 2011

This study was conducted to investigate the effects of different cooking methods on the nutrient composition of genetically modified (GM) provitamin A(PA)-biofortified rice. PA-biofortified rice was subjected to different cooking methods, namely boiling and a soaking, steaming and roasting process. The proximate components (starch, protein, lipid and ash) of raw PA-biofortified rice were similar to those found in the parental non-GM rice, and were not significantly affected by a conventional boiling treatment. When compared with raw rice, boiled PA-biofortified rice showed a similar nutrient composition, despite a slight reduction in a majority of its amino acid contents. However, the PA-biofortified rice that underwent the soaking/steaming/roasting process exhibited a significant reduction in a majority of its amino acids and mineral contents. This procedure also led to a significant reduction in carotenoid contents. The overall results of this study demonstrate that using a conventional boiling method for PA-biofortified rice retains nutrients better than a soaking/steaming/roasting method.

• Journal of the Korean Society of Food Science and Nutrition
• /
• v.34 no.5
• /
• pp.599-604
• /
• 2005

The aim of this study was to develop the new processing method for ginseng. To investigate the efficacy of the new product (the traditional rice wine steamed-red ginseng: RWS-RGS), antioxidant and anticancer effects of RWS-RGS were examined. The DPPH radical scavenging effect of RWS-RGS extracted with ethanol was increased in dose-dependent manner Especially, A3 ($3^{rd}$ traditional rice wine steamed-red ginsengs) exhibited effective DPPH radical scavenging activity. Nitrite scavenging effect of white ginseng (W.G), red ginseng (R.G) and RWS-RGS ($A1\~A9:\;1^{st}$ traditional rice wine steamed-red $ginseng\~9^{th}$ traditional rice wine steamed-red ginseng) were $25.9{\pm}4.4\%,\;12.9{\pm}1.1\%\;and\;26.2{\pm}0.1\~56.1{\pm}0.6\%$ at pH 1.2, respectively. The antitumor effects of W.G, R.G and RWS-RGS (A9) were examined in Hep3B cancer cells. Their growth inhibition against Hep3B cancer cells showed $19.6{\pm}4.5\%,\;54.5{\pm}6.1\%,\;96.3{\pm}2.4\%$ at 5,000 ppm, respectively. These result suggest that the traditional rice wine steamed ginseng will be useful product with antioxidant and antitumor effect.

• Korean Journal of Food Science and Technology
• /
• v.48 no.2
• /
• pp.133-141
• /
• 2016

The physicochemical properties, antioxidant capacities, and sensory optimization of taro (Colocasia esculenta) under different aging conditions were investigated to develop black taro. Black taro was processed in three steps (steaming: $95{\pm}3^{\circ}C$ for 1 h; aging: 85, 90, $95^{\circ}C$ for 20, 40, and 60 h; drying: $60^{\circ}C$ for 24 h) and ground into a powder for all experiments. Black taro showed an increased crude fiber content and browning index compared to raw taro. Calcium oxalate contents, reducing sugar contents, moisture contents, and lightness values were decreased during the processing of taro. Improvements in total polyphenol content and antioxidant activity (DPPH, ABTS, FRAP) were observed in the black taro samples aged at higher temperature. Response surface methodology was used for sensory optimization, and the optimum aging conditions with the highest acceptance values were found to be $88.73^{\circ}C$ for 39.50 h for taste, and $88.82^{\circ}C$ for 42.60 h for overall acceptance.

• Journal of the Korean Society of Food Science and Nutrition
• /
• v.31 no.2
• /
• pp.343-350
• /
• 2002

This study was conducted to standardize the manufacturing process of doenjang. The preparation methods, kinds and levels of the ingredients were determined by the statistical surveys of literatures obtained from cooking books, scientific papers and doenjang manufacturing factories. The standardized preparation of fermentation methods of doenjang were classified into two large groups, that were traditional and modified (commercialized) methods. Most soybeans used in doenjang preparation were the large size. To prepare traditional doenjang, soybeans were cleaned, scaled and cooked for 2 hrs at atmospheric pressure. These cooked soybeans were crushed in water and molded as brick shape. The molded soybean was dried for 2 days in the air, hung up by rice straw and fermented for 30~60 days under natural environmental condition (called meju). Recently soybean grain meju that inoculated with Asp. oryzae also frequently used to make traditional doenjang. The fermented meju was brined with a ratio of meju : salt : water = 18.4 : 14.6 : 67.0 and the meju-brine mixtures were ripened for 2 months. When the meju-brine mixture was fully fermented, it was separated into liquid and solid parts. The crushed solid part was further ripened in a separated pottery for 60 days and become doenjang. The liquid part was filtered, boiled and used as soy sauce. In modified commercial doenjang preparation, soybeans were cocked by autoclaving and then cooled about to 3$0^{\circ}C$. Separately, steamed barley grains or wheat flour were inoculated with 0.2% Asp. oryzae and incubated for 3 days at 3$0^{\circ}C$ and mixed with the crooked soybeans, salt, and water (soybean : salt : starch : water = 39.8 : 12.5 : 22.6 : 25.1). These mixtures were ripened for 30 days at 3$0^{\circ}C$. It seems that the manufacturing process of traditional doenjang needs to be more industrialized, whereas, the commercial doenjang preparation is going to adapt the traditional processing method of doenjang.