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The Effects of CEO's Narcissism on Diversification Strategy and Performance in an Economic Downturn: The Moderating Role of Corporate Governance System (경기침체기의 다각화전략과 성과에 대한 최고경영자 나르시시즘의 영향과 기업지배구조의 조절효과에 대한 연구)

  • Yoo, Jae-Wook
    • Management & Information Systems Review
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    • v.35 no.4
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    • pp.1-19
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    • 2016
  • The researchers in strategic management have focused on identifying the effects of CEO's demographic characteristics and experience on the strategic choices and performance of firms. On the other hand, they have failed to identifying the effects of CEO's psychological characteristics on them because of the difficulties over data collection and measurement for variables. To overcome this limitation of prior researches, this study is designed to achieve two specific objectives. The first is to examine the effect of CEO narcissism on diversification strategy and performance of listed corporations on Korean securities market in an economic downturn. The other is to examine the moderating effects of various corporate governance systems that are related to board and/or ownership structures on those relationships. The empirical setting for this study was drawn from a multi-year(2011~2014) sample of large listed corporations in Korean securities market. To achieve the objectives, the hypotheses of research are analyzed by implementing multiple regression analyses in two separate models. The results of these analyses show that CEO narcissism is positively related to the diversification of listed large corporations in Korean securities market. Regrading the moderating effects, the stake of institutional investors weakens the positive relationship between CEO narcissism and firm's diversification. The findings of this research imply that CEO narcissism can intensify the tendency of Korean corporations to adopt high-risk and high return strategy in an economic downturn. Thus, firms might be able to use CEO narcissism to drastically restructure the business portfolio in an economic downturn. However, Korean corporations should be very cautions to maximize the positive effect of CEO narcissism. They might be use the institutional investors as their corporate governance system to monitor and control the opportunism of CEO in the decision for diversification in an economic downturn.

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Analysis of Causes for Primary Treatment Failure of Pulmonary Tuberculosis (폐결핵환자에서 초치료실패에 대한 요인 분석)

  • Park, Seung-Kyu;Choi, In-Hwan;Kim, Cheon-Tae;Song, Sun-Dae
    • Tuberculosis and Respiratory Diseases
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    • v.44 no.6
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    • pp.1234-1244
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    • 1997
  • Background : Nowadays drug resistant tuberculosis is making problems in the treatment of pulmonary tuberculosis and its number is increasing. Several reasons for this are considered including irregular medication, poor drug compliance and wrong regimens. But there are treatment failure cases in spite of regular medication with short-term standard regimens. We reviewed clinical data of 50 patients to find out possible causes of this. Method : Subject of this study was 50 patients who failed in the primary treatment of pulmonary tuberculosis in spite of regular medication with short-term standard regimens. All of them were under treatment with secondary regimens in National Masan Tuberculosis Hospital on Oct 1996. The patient's records were analyzed retrospectively and direct interviews with patients were done. Results : There were relatively more patients in the age of 20th. Male overwhelmed in number. There were smoking in 22 patients and drinking in 24 patients during medication. 17(34%) patients had family history of tuberculosis. Public health center was the most common site for the initial diagnosis among medical institutes. 42 patients had subjective symptoms for pulmonary tuberculosis. 38 patients got sufficient explanation from medical institute about tuberculosis and medication courses. 24 patients had bilateral lesions on chest X-ray film and 43 patients had cavitary lesions. 29 patients had past history for pulmonary tuberculosis with regular medication. The results of drug sensitivity test showed resistance in 41 patients of whom we could get the results. Conclusion : Main cause of treatment failure of pulmonary tuberculosis in spite of regular medication with short-term standard regimens was drug resistance. Several factors were considered to be related to high prevalence of drug resistance, including age of 20th, male, family history for tuberculosis, bilateral lesions or remaining cavitary lesion on chest X-ray film.

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Evaluation of Autonomic Neuropathy in Patients with Sleep Apnea Syndrome (수면 무호흡 증후군 환자에서 자율 신경 장애의 평가)

  • Lee, Hak-Jun;Park, Hye-Jung;Shin, Chang-Jin;Kim, Ki-Beom;Chung, Jin-Hong;Lee, Kwan-Ho;Lee, Hyun-Woo
    • Tuberculosis and Respiratory Diseases
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    • v.45 no.2
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    • pp.404-415
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    • 1998
  • Background: Sleep apnea syndrome, which occurs in 1~4 % of the adult population, frequently has different cardiovascular complications such as hypertension, ischemic heart disease, cardiac arrythmia as well as sleep-wake disorder such as excessive daytime hypersomnolence or insomnia. Mortality and vascular morbidity are reported to be significantly higher in sleep apnea syndrome patients than in normal population. According to the recent studies, autonomic dysfunction as well as hypoxemia, hypercapneic acidosis, and increased respiratory effort, may playa role in the high prevalence of cardiovascular complications in patients with sleep apnea syndrome. However the cause and mechanism of autonomic neuropathy in patients with sleep apnea syndrome are not well understood. We studied the existence of autonomic neuropathy in patients with sleep apnea syndrome and factors which influence the pathogenesis of autonomic neuropathy. Method: We used the cardiovascular autonomic neuropathy(CAN) test as a method for evaluation of autonomic neuropathy. The subjects of this study were 20 patients who diagnosed sleep apnea syndrome by polysomnography and 15 persons who were normal by polysomnography. Results: Body mass index and resting systolic blood pressure were higher in sleep apnea group than control group. Apnea index(Al), respiratory disturbance index(RDI) and snoring time percentage were significantly higher in sleep apnea group compared with control group. But there were no significant differences in saturation of oxygen and sleep efficiency in two groups. In the cardiac autonomic neuropathy test, the valsalva ratio was significantly low in sleep apnea group compared with control group but other tests had no differences between two groups. The CAN scores and corrected QT(QTc) interval were calculated significantly higher in sleep apnea group, but there were no significant correlations between CAN scores and QTc interval. There were no significant data of polysomnography to correlate to the CAN score. It meant that the autonomic neuropathy in patients with sleep apnea was affected by other multiple factors. Conclusion: The cardiovascular autonomic neuropathy test was a useful method for the evaluation of autonomic neuropathy in patients with sleep apnea syndrome and abnormalities of cardiovascular autonomic neuropathy were observed in patients with sleep apnea syndrome. However, we failed to define the factors that influence the pathogenesis of autonomic neuropathy of sleep apnea syndrome. This study warrants futher investigations in order to define the pathogenesis of autonomic neuropathy in patients with sleep apnea syndrome.

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Recent Progress in Air Conditioning and Refrigeration Research - A Review of Papers Published in the Korean Journal of Air-Conditioning and Refrigeration Engineering in 2004 and 2005 - (공기조화, 냉동 분야의 최근 연구 동향 -2004년 및 2005년 학회지 논문에 대한 종합적 고찰-)

  • Choi, Yong-Don;Kang, Yong-Tae;Kim, Nae-Hyun;Kim, Man-Hoe;Park, Kyoung-Kuhn;Park, Byung-Yoon;Park, Jin-Chul;Hong, Hi-Ki
    • Korean Journal of Air-Conditioning and Refrigeration Engineering
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    • v.19 no.1
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    • pp.94-131
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    • 2007
  • A review on the papers published in the Korean Journal of Air-Conditioning and Refrigerating Engineering in 2004 and 2005 has been done. Focus has been put on current status of research in the aspect of heating, cooling, air-conditioning, ventilation, sanitation and building environment. The conclusions are as follows. (1) Most of fundamental studies on fluid flow were related with heat transportation of facilities. Drop formation and rivulet flow on solid surfaces were interesting topics related with condensation augmentation. Research on micro environment considering flow, heat, humidity was also interesting for comfortable living environment. It can be extended considering biological aspects. Development of fans and blowers of high performance and low noise were continuing topics. Well developed CFD and flow visualization(PIV, PTV and LDV methods) technologies were widely applied for developing facilities and their systems. (2) The research trends of the previous two yews are surveyed as groups of natural convection, forced convection, electronic cooling, heat transfer enhancement, frosting and defrosting, thermal properties, etc. New research topics introduced include natural convection heat transfer enhancement using nanofluid, supercritical cooling performance or oil miscibility of $CO_2$, enthalpy heat exchanger for heat recovery, heat transfer enhancement in a plate heat exchanger using fluid resonance. (3) The literature for the last two years($2004{\sim}2005$) is reviewed in the areas of heat pump, ice and water storage, cycle analysis and reused energy including geothermal, solar and unused energy). The research on cycle analysis and experiments for $CO_2$ was extensively carried out to replace the Ozone depleting and global warming refrigerants such as HFC and HCFC refrigerants. From the year of 2005, the Gas Engine Heat Pump(GHP) has been paid attention from the viewpoint of the gas cooling application. The heat pipe was focused on the performance improvement by the parametric analysis and the heat recovery applications. The storage systems were studied on the performance enhancement of the storage tank and cost analysis for heating and cooling applications. In the area of unused energy, the hybrid systems were extensively introduced and the life cycle cost analysis(LCCA) for the unused energy systems was also intensively carried out. (4) Recent studies of various refrigeration and air-conditioning systems have focused on the system performance and efficiency enhancement. Heat transfer characteristics during evaporation and condensation are investigated for several tube shapes and of alternative refrigerants including carbon dioxide. Efficiency of various compressors and expansion devices are also dealt with for better modeling and, in particular, performance improvement. Thermoelectric module and cooling systems are analyzed theoretically and experimentally. (5) According to the review of recent studies on ventilation systems, an appropriate ventilation systems including machenical and natural are required to satisfied the level of IAQ. Also, an recent studies on air-conditioning and absorption refrigeration systems, it has mainly focused on distribution and dehumidification of indoor air to improve the performance were carried out. (6) Based on a review of recent studies on indoor environment and building service systems, it is noticed that research issues have mainly focused on optimal thermal comfort, improvement of indoor air Quality and many innovative systems such as air-barrier type perimeter-less system with UFAC, radiant floor heating and cooling system and etc. New approaches are highlighted for improving indoor environmental condition as well as minimizing energy consumption, various activities of building control and operation strategy and energy performance analysis for economic evaluation.

The Effect of Makgeolli on Blood Flow, Serum Lipid Improvement and Inhibition of ACE in vitro (막걸리의 혈행, 지질개선 효과 및 in vitro에서의 ACE 저해 효과)

  • Shin, Mi-Ok;Kim, Mi-Hyang;Bae, Song-Ja
    • Journal of Life Science
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    • v.20 no.5
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    • pp.710-716
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    • 2010
  • This study was conducted to investigate the effect of Makgeolli (MG) and Makgeolli GiGemi (MGG) on blood flow, serum lipid improvement in vivo, and inhibition of angiotensin converting enzyme (ACE) in vitro. The activities of serum AST and ALT were increased by ovariectomy. Serum AST levels were decreased to $77.71{\pm}13.97$ and $74.57{\pm}14.90\;unit/ml$ in the OVX-MG50 and OVX-MGG50 groups compared to the OVX-control group ($91.14{\pm}12.02\;unit/ml$). Serum ALT levels were decreased to $34.00{\pm}8.41$ and $30.43{\pm}3.60\;unit/ml$ in OVX-MG50 and OVX-MGG50 groups compared to the OVX-control group ($37.14{\pm}5.40\;unit/ml$). Serum total cholesterol and triglyceride contents decreased in the sham group compared with OVX-control group by ovariectomy. Six weeks feeding of MG and MGG resulted in a decrease to $116.14{\pm}36.02$ and $109.14{\pm}11.55\;mg/dl$ compared to the OVX-control group ($120.43{\pm}8.36\;mg/dl$) in serum total cholesterol, and triglyceride levels were decreased to $52.43{\pm}12.41$ and $47.29{\pm}12.08\;mg/dl$ in the OVX-MG50 and OVX-MGG50 groups compared to the OVX-control group ($58.57{\pm}5.47\;mg/dl$). The level of HDL-cholesterol in the OVX-control group was significantly reduced to $51.29{\pm}20.49\;mg/dl$ compared to the sham group ($72.29{\pm}10.29\;mg/dl$), but it was increased to $70.71{\pm}19.53$ and $62.00{\pm}20.20\;mg/dl$ with MG and MGG supplementation. Furthermore, the effect of the MG group was higher than the MGG group. Microscopic observation showed that whole blood passed smoothly through the micro channels in the MG and MGG supplemented groups. The platelet aggregation ability of the groups treated with MG and MGG was less than that of the OVX-control group. In vitro assay, the angiotensin converting enzyme (ACE) activity was significantly inhibited by MG and MGG (82.6% and 68.9% inhibition at 0.4 g/ml). These results suggest that the beneficial effects of MG and MGG may be used to improve on the lipid metabolic syndrome of menopausal women. In addition, MG and MGG might improve blood homeostasis mediated activities via antiplatelets and MG and MGG may be used as antihypertensive functional foods and nutraceuticals.

Cultural practices of in vitro Tuber of Pinellia ternata(Thunb.) Breit II. Effects of Harvesting Time on Growth, Tuber Size and Yield (기내(器內) 대량(大量) 생산(生産) 반하(半夏) 종구(種球)의 포장(圃場) 재배기술(栽培技術) 연구(硏究) II. 수확시기별(收穫時期別) 생육특성(生育特性), 괴경(塊莖)크기 및 수량(收量))

  • Park, Moon-Soo;Park, Ho-Ki;Kim, Tai-Soo;Jang, Yeong-Seon;Park, Keun-Yong
    • Korean Journal of Medicinal Crop Science
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    • v.1 no.2
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    • pp.115-119
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    • 1993
  • This study was carried out to determine optimum harvest time of in vitro multiplied tuber Pinellia ternata(Thunb.)Breit from 1990 to 1992. Tuber yield and its related traits were observed with four harvest times. Plant height was 7.2cm at 6 months and 19.3cm at 24 months after planting. The number of tubers per unit area was significantly increased with the passage of growing time after planting$(78\;tubers/m^2)$, those were increased by 2.3 times in 6 months, 5.6 times in 12 months, 13.3 times in 18 months and 20.0 times in 24 months. The tuber sizes(length, width and weight) were highly enlarged during 12 to 18 months after planting compared with before or after this time. There were smaller tubers and lower tuber yields with shorter growing period, while large tubers above 7.1mm and higher yields with longer growing. It was suggested that the optimum harvest time was 18 months after planting, before over wintering rather than next year of spring, 24months after planting.

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Spatial Changes in the Business Organization of Retailing in the Seoul Metropolitan Area (首都圈地域 小賣業 經營의 空間的 變容)

  • Han, Ju-Seong
    • Journal of the Korean Geographical Society
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    • v.31 no.1
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    • pp.19-37
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    • 1996
  • This paper aims at examining the regional difference of changes in the business organization of retailing in the Seoul metropolitan areas, as an attempt to understand regional structure of retailing within metropolitan areas showing the trend of suburbanization. On the national level, retail sales have concentrated on the large metropolitan areas, especially on the Seoul metropolitan area, with the concentration of population and income. Within metropolitan areas, the suburbanization of retailing has made the larger structure of retail and multi-store retail appeared. In order to confirm such phenomenon, this paper is to analyze and to compare the industrial composition of retailing using industry data of 1979 and 1991. And this paper is to analyze the regional changes in the characteristics of business organization of retailing, with the index including the percentages of establishments with less than under four employees, juridical establishments, employees of ordinary times, and the annual sales per establishment of detailing. The characteristics of business organization of retailing in analyzed by principal components analysis, and the types with component in each district (city, county, ward) is analyzed by cluster analysis(Ward method). The data of 1979 were obtained from the statistics in the Census of Wholesale and Retail Trade published by the National Bureau of Statistics of Economic Planning Board, and that of 1991 were obtained from the statistics in the Report on Establishment Census (Vol.3 Wholesale and Retail Trade) published by the National Statistics Office. The following are resultant findings. 1. In Seoul metropolitan area, changes in the industrial composition of retailing with annual sales from, 1979 to 1991 show very higher composition rates of 'general merchandise stores' and 'retailing of personal transport equipment and gasoline service stations', but comparatively lower composition rates of 'retailing of food, beverages and tobacco', 'retailing of textiles, clothing, footwear and apparel accessaries', 'general retail trade, n.e.c.',and 'retailing of household fuel'. 2. The characteristics of business organization of retailing in Seoul metropolitan area presents the prevailence of small, personal business organization and especially larger employees of ordinary times. 3. Business components of retailing by principal components analysis in Seoul metropolitan area are follows: 1 All retaining industries are larger business scale. 2. Larger business take the 'retailing of taxtiles, clothing, footwear and apparel accessories', 'retailing of furniture, home furnishing and equipment', and 'retailing of jewellery and watches' is main characteristic legal organization and employees of ordinary times. 4. Types changes in business organization of retailing in Seoul metropolitan area represent legal organization and employees of ordinary times taking the 'retailing of textiles, clothing, footwear and apparel accessories', 'retailing of furniture, home furnishing and equipment',and 'retailing of jewellery and equipment', and 'retailing of jewellery and watches', and legal organization taking 'general retail trade, n.e.c.' in 1979. All retailing industries are changed into larger business scale, in 1991. These phenomena of business changes appeared southeastern regions in Kyunggi-do(province). And larger business scale taking the 'retailing of textiles, clothing, footwear and apparel accessories', 'retailing of jewellery and watches', and 'general retail trade, n.e.c.; are appeared in the legal organization in 1979. 'Retailing of personal transport equipment and gasoline service stations' are appeared in employees of ordinary times in 1991. These phenomena of business changes in appeared in eastern and northern regions in Kyunggi-do. 5. Changes in the business organization of retailing in Seoul metropolitan area is appeared in legal organization and employees of ordinary times for some industries in 1979, larger business scale of retailing and employees of ordinary times in 'retailing of personal transport equipment and gasoline service stations' are the characteristics in 1991.

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Growth of CdSe thin films using Hot Wall Epitaxy method and their photoelectrical characteristics (HWE방법에 의한 CdSe 박막 성장과 광전기적 특성)

  • Hong, K.J.;Lee, K.K.;Lee, S.Y.;You, S.H.;Shin, Y.J.;Suh, S.S.;Jeong, J.W.;Jeong, K.A.;Shin, Y.J.;Jeong, T.S.;Kim, T.S.;Moon, J.D.;Kim, H.S.
    • Journal of Sensor Science and Technology
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    • v.6 no.4
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    • pp.328-336
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    • 1997
  • The CdSe thin films were grown on the Si(100) wafers by a hot wall epitaxy method (HWE). The source and substrate temperature are $600^{\circ}C$ and $430^{\circ}C$ respectively. The crystalline structure of epilayers was investigated by double crystal X-ray diffraction(DCXD). Hall effect on the sample was measured by the van der Pauw method and studied on the carrier density and mobility dependence on temperature. From Hall data, the mobility was increased in the temperature range 30K to 150K by impurity scattering and decreased in the temperature range 150k to 293k by the lattice scattering. In order to explore the applicability as a photoconductive cell, we measured the sensitivity(${\gamma}$), the ratio of photocurrent to darkcurrent(pc/dc), maximum allowable power dissipation(MAPD), spectral response and response time. The results indicated that the photoconductive characteristic were the best for the samples annealed in Cu vapor compare with in Cd, Se, air and vacuum vapour. Then we obtained the sensitivity of 0.99, the value of pc/dc of $1.39{\times}10^{7}$, the MAPD of 335mW, and the rise and decay time of 10ms and 9.5ms, respectively.

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Requirements and Self-evaluation of Competencies Necessary to be Effective Nutrition Teachers Perceived by School Food Service Dieticians (학교급식 영양사가 인식하는 효과적인 영양교사의 역량 요구도와 자기 평가)

  • Lee, Kyung-Eun
    • Journal of the Korean Society of Food Science and Nutrition
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    • v.38 no.5
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    • pp.626-635
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    • 2009
  • The purposes of the study were to identify a comprehensive competency list related to the jobs of nutrition teachers and to compare the competency needs for nutrition teachers and dieticians' competency levels. Job functional areas and a competency list for nutrition teachers were developed based on a review of literature and revised through expert panel reviews. A total of 53 competency statements associated with 11 job functional areas were specified. Questionnaires were distributed to 457 dieticians engaged in school food service and 148 responses were returned (response rate: 32.4%). Excluding incomplete responses, 142 questionnaires were used for data analysis. Approximately half of the respondents were enrolled in an 1-year nutrition teacher certificate program, 25% in a graduate school of nutrition education, and 19% had completed an 1-year nutrition teacher certificate program. The dieticians highly rated requirements of the competencies related to sanitation and employee safety, nutrition counseling, nutrition education, and teaching practices; in contrary, their competency levels for nutrition education, nutrition counseling, and teaching practices were low. Respondents' competency levels were significantly lower than the required competency levels of effective nutrition teachers in all functional areas. A quadratic analysis based on the requirement and self-evaluation of the competencies revealed that priorities of education programs targeting school nutrition teachers or students preparing to be nutrition teachers should be placed on improving competencies related to nutrition education, nutrition counseling, teaching practices, sanitation and employee safety, menu management, and human resource management. These results can be used to develop curriculum materials for basic and continuing professional education for nutrition teachers. It is necessary to review and update competencies regularly to reflect environmental changes in school food service programs.

Effects of Bulk Density, Volumetric Water and Gravel Contents on Hardness in Prepared Sandy Loam (충전(充塡) 사양토(砂壤土)에서 용적밀도(容積密度), 용적수분(容積水分) 및 자갈함량(含量)이 경도(硬度)에 미치는 영향(影響))

  • Cho, Jae-Hyun;Kim, Kwang-Rai
    • Korean Journal of Soil Science and Fertilizer
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    • v.30 no.1
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    • pp.46-50
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    • 1997
  • This study was conducted to find out the main soil physical properties to control the soil hardness in tamped condition. Sandy loam soil was taken and fill it up to wood cubes and then differently trampling experimental cubic lots which were mulched with various materials, such as, leaves, wood plates and bricks. Soil physical properties were measured 2" core and samples were taken at 250 sites with soil hardness. There were highly significant positive correlations between soil hardness and bulk density, and between bulk density and water content. Negative correlations were found between soil hardness and water content, and between soil hardness and gravel content. The correlation coefficients were increased by multiple correlation between soil hardness, bulk density, volumetric water and gravel content. Bulk density was the main factor to control the hardness, and volumetric water and gravel contents were less effected to soil hardness.

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