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An Empirical Study on the Determinants of Ownership Structure of Listed Companies in Korea : Evidence from Panel Data (우리나라 상장기업의 소유구조 결정요인에 관한 실증적 연구 : 패널자료로부터의 근거)

  • Lee, Hae-Young;Lee, Jae-Choon
    • The Korean Journal of Financial Management
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    • v.20 no.2
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    • pp.41-72
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    • 2003
  • The purposes of this paper are to build theoretical and empirically testable model to identify determining factors of ownership structure, and to analyze this model empirically using th Korea Stock Exchange panel data, and to test the impact of opening the stock market on the determinants of ownership structure. The determining factors of ownership structure identified in this paper include debt ratio, dividend, asset characteristics, profitability, growth business risk, size, institutional investors and chaebol-non chaebol dummy variable. Empirical panel estimation test reveals that this model can explain about $9\sim11%$ of the cross sectional variance in the equity ratio of large shareholders. The reasons that this model has too explanatory power are that some variables were measured with errors, and that there were some omitted variables in tested model. The regression results on the model variables ar generally in line with predictions. But the coefficient estimates on size is never significant. And it appears that the exogenous variable which explains opening the stock market has positive effect on the determinants of ownership structure.

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Effect of Unilateral Ovariectomy on Development of Ovarian Follicle, Corpus Luteum and Serum Progesteron Level in Immature Female Rats (미성숙 암흰쥐에 있어서 편측난소척출이 난포발육, 황체 및 혈청 Progesterone 수준에 미치는 영향)

  • 정재혁;김종대;정영채;김창근
    • Korean Journal of Animal Reproduction
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    • v.9 no.2
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    • pp.97-104
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    • 1985
  • This study was conducted to investigate the effects of unilateral ovariectomy on the weight of the remaining ovary, the change of number of ovarian follicle, number of corpus luteum and serum progesterone level. Sixty Sprague-Dawley female rats, 23$\pm$2 days old, were divided into 2 groups (control and unilaterally ovariectomized goup) with 30 heads per groups. Each group was again subdivided into 6 groups according to 6 experimental periods; Day 4, 8, 12, 16, 20 and 24 after uniteral ovariectomy. Five arts at every 4 day intervals were sacrificed for the measuring of ovarian weight and for quantitative histologic examination of ovary and at the same time, blood samples were taken for the determination of serum progesterone level of radioimmunoassy. The results obtained were as follows: During the experimental periods, a significant hypertrophy occured in the remaining ovary of unilaterally ovariectomized group from day 16 after operation. The average ovarian weight of control group at day 16 was 21.0$\pm$1.7mg, which is samller than that of unilaterally ovariectomized group weighing 50.5$\pm$8.4mg(P<0.01). The ovarian weight of the unilaterally ovariectomized rats at day 20 and day 24 was 75.9$\pm$2.2 mg and 63.3$\pm$7.0 mg, which is heavier than those of control group; 29.1$\pm$2.3 and 26.3$\pm$1.7 mg(P<0.01 and P<0.01). 2. A same degree of ovarian follicle development was observed in the unilaterally ovariectomized group. Following unilateral ovariectomy and there was no change in total number of follicles larger than 130$\mu$ during the period from day 4 till day 24 after operation. 3. Although the size fo ovarian follicle did not significantly change between two groups from day 4 till day 16, the size of vesicular follicle in unilaterally ovariectomized group (406.3$\pm$26.2$\mu$) was significantly greater as compared to that of control group (323.8$\pm$19.3$\mu$)(P<0.05). 4. Corpus luteum in unilaterally ovariectomized and control group began to a, pp.ar from day 16 after operation and then the number of corpus luteum slightly increased. The number of corpus luteum in unilaterally ovariectomized group at day 24 ws remarkably increased (13.7$\pm$1.41) than that of control (5.2$\pm$2.01)(P<0.01). 5. Serum progesterone levels in unilaterally ovariectomized group were slightly higher than those of control but there were no significant difference between treatment groups.

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Clone Identification of Cudraria Tricuspidata and Hibiscus Syriacus by Using PCR and Southern Hybridization (PCR과 Southern hybridization을 이용한 구지뽕나무와 무궁화의 클론감별)

  • Ryu, Jang-Bal;Park, Sang-Gyu
    • Applied Biological Chemistry
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    • v.41 no.1
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    • pp.42-46
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    • 1998
  • Polymerase chain reaction (PCR) and Southern hybridization analyses were carried out to identify clones of silk worm thorn (Cudraria tricuspidata) and Rose of sharon (Hibiscus syriacus) which look like one tree with two ar three, branches or two or three different trees. For PCR five different PCR primers $(17{\sim}24\;nucleotides)$ are derived from CaMV 35S promoter, nopaline synthase terminator and coding region of thylakoid membrane protein gene. In the case of silk worm thorn, about 500 bp of PCR product was produced from DNAs of one tree or branch in the presence of 35S primer alone. Southern hybridization analysis of genomic DNAs hybridized with $^{32}P$ labeled PCR product showed that the same size of DNA fragments were hybridized with different intensities. In addition, PCR analyses using 20 different primers of OPERON 10-mer kits showed that only OPA01 primer produced PCR products of different size. These results indicate that two different trees of silk worm thorn combined to one tree. In the case of the Rose of Sharon, the same size of PCR products were produced from three different samples but Southern hybridization with the above PCR product as a probe did not show any hybridized bands. PCR analyses in the presence of OPERON 10-mers showed OPA04 and OPA13 produced different products including same sizes of products. These, results indicate that three different trees of the Rose of Sharon seem to be derived from the tree.

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Structural and Electrical Properties of Fluorine-doped Zinc Tin Oxide Thin Films Prepared by Radio-Frequency Magnetron Sputtering

  • Pandey, Rina;Cho, Se Hee;Hwang, Do Kyung;Choi, Won Kook
    • Proceedings of the Korean Vacuum Society Conference
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    • 2014.02a
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    • pp.335-335
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    • 2014
  • Over the past several years, transparent conducting oxides have been extensively studied in order to replace indium tin oxide (ITO). Here we report on fluorine doped zinc tin oxide (FZTO) films deposited on glass substrates by radio-frequency (RF) magnetron sputtering using a 30 wt% ZnO with 70 wt% SnO2 ceramic targets. The F-doping was carried out by introducing a mixed gas of pure Ar, CF4, and O2 forming gas into the sputtering chamber while sputtering ZTO target. Annealing temperature affects the structural, electrical and optical properties of FZTO thin films. All the as-deposited FZTO films grown at room temperature are found to be amorphous because of the immiscibility of SnO2 and ZnO. Even after the as-deposited FZTO films were annealed from $300{\sim}500^{\circ}C$, there were no significant changes. However, when the sample is annealed temperature up to $600^{\circ}C$, two distinct diffraction peaks appear in XRD spectra at $2{\Theta}=34.0^{\circ}$ and $52.02^{\circ}$, respectively, which correspond to the (101) and (211) planes of rutile phase SnO2. FZTO thin film annealed at $600^{\circ}C$ resulted in decrease of resistivity $5.47{\times}10^{-3}{\Omega}cm$, carrier concentration ~1019 cm-3, mobility~20 cm2 V-1s-1 and increase of optical band gap from 3.41 to 3.60 eV with increasing the annealing temperatures and well explained by Burstein-Moss effect. Change of work function with the annealing temperature was obtained by ultraviolet photoemission spectroscopy. The increase of annealing temperature leads to increase of work function from ${\phi}=3.80eV$ (as-deposited FZTO) to ${\phi}=4.10eV$ ($600^{\circ}C$ annealed FZTO) which are quite smaller than 4.62 eV for Al-ZnO and 4.74 eV for SnO2. Through X-ray photoelectron spectroscopy, incorporation of F atoms was found at around the binding energy of 684.28 eV in the as-deposited and annealed FZTO up to 400oC, but can't be observed in the annealed FZTO at 500oC. This result indicates that F atoms in FZTO films are loosely bound or probably located in the interstitial sites instead of substitutional sites and thus easily diffused into the vacuum from the films by thermal annealing. The optical transmittance of FZTO films was higher than 80% in all specimens and 2-3% higher than ZTO films. FZTO is a possible potential transparent conducting oxide (TCO) alternative for application in optoelectronics.

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Geology and Mineral Resources of the Ogcheon Zone: Mineralization in the Pyeongchang-Jucheon Area, Kangwon-Do, Korea (옥천대(沃川帶)의 지질(地質) 및 광물자원(鑛物資源)에 관(關)한 연구(硏究) -평창(平昌)~주천지역(酒泉地域)에 있어서의 광화작용(鑛化作用)-)

  • Yun, Suckew;So, Chil Sop;Kim, Kyu Han
    • Economic and Environmental Geology
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    • v.19 no.1
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    • pp.1-18
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    • 1986
  • A group of 16 $Zn+Pb{\pm}Ag$ deposits distributed in the Pyeongchang-Jucheon area, Kangwon-do, South Korea, were semi-regionally investigated. These deposits are contact metasomatic and/or hydrothermal replacement types hosted in the carbonate-dominated Cambrian Machari Formation and Ordovician Ibtanri Formation, and also in the carbonate interbeds of the Precambrian argillic metasediments. Comparing some key aspects of the individual deposits, it is found that the ore deposits hosted in the Machari and Ibtanri Formations are mostly of steeply-dipping chimneys with or without skarn minerals and are rich in Ag and Pb>Zn in metal grade whereas those occuring in the carbonate interbeds of the Precambrian argillic metasediments are gently-dipping conformable lenticular orebodies mostly with skarn minerals and are generally poor in Ag and Zn>Pb. The skarn mineralization in the area appears to have occurred during the lower Cretaceous (118.7Ma) to mid-Cretaceous (107.8Ma) time assumed from the K-Ar dates of the Dowon and Pyeongchang granites which are closely associated with the skarn ore deposits. The Rb/Ba/Sr ratios of these granites indicate that they are of strongly differentiated anomalous granites, and the Nb vs. Y and Rb vs. Y+Nb plots fall on the field of volcanic arc setting. The contact aureoles are zoned, giving the sequence in order of increasing distance from igneous contact: garnet-wollastonite, granet-wollastonite-clinopyroxene and garnet-clinopyroxene in such as the Pyeongchang and Yeonwol 114 areas. Electron microprobe analyses reveal that garnets and clinopyroxenes are generally low in Fe and Mn. Garnets are grossular to intermediate grandite except for those from the Ogryong exoskarn which are richer in andradite, pyrope and spessartine fractions. This indicates that the oxidation state of skarn-forming environment at Ogryong was higher than at the other deposits. Clinopyroxenes are mostly salitic except for those from the Ogryong exoskarn which involve considerable amounts of hedenbergite and johansenite fractions. The ${\delta}^{18}O$ value of Jurassic biotite granite at Ogryong is higher (+10.21‰) than that of Cretaceous one at Chodun (+8.41‰). The ${\delta}^{13}C$ values of carbonate rocks range from -0.89‰ to 0.68‰ and the ${\delta}^{18}O$ values range from +11.91‰ to + 19.34‰ indicating that these carbonate rocks are of marine origin. However, the ${\delta}^{13}C$ values of skarn calcite and vein calcite are -4.80‰ and -12.92‰, and the ${\delta}^{18}O$ values are +5.56‰ and +10.32‰, respectively, indicating that these calcites are of hydrothermal origin. The ${\delta}^{34}S$ values of sulfide minerals range from +4.4‰ to +8.7‰ suggesting that the sulfurs are of magmatic origin.

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Study of the Formation of Eutectic Melt of Uranium and Thermal Analysis for the Salt Distillation of Uranium Deposits (우라늄 전착물의 염증류에 대한 우라늄 공정(共晶) 형성 및 열해석 연구)

  • Park, Sung-Bin;Cho, Dong-Wook;Hwang, Sung-Chan;Kang, Young-Ho;Park, Ki-Min;Jun, Wan-Gi;Kim, Jeong-Guk;Lee, Han-Soo
    • Journal of Nuclear Fuel Cycle and Waste Technology(JNFCWT)
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    • v.8 no.1
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    • pp.41-48
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    • 2010
  • Uranium deposits from an electrorefining process contain about 30% salt. In order to recover pure uranium and transform it into an ingot, the salts have to be removed from the uranium deposits. Major process variables for the salt distillation process of the uranium deposits are hold temperature and vacuum pressure. Effects of the variables on the salt removal efficiency were studied in the previous study[1]. By applying the Hertz-Langmuir relation to the salt evaporation of the uranium deposits, the evaporation coefficients were obtained at the various conditions. The operational conditions for achieving above 99% salt removal were deduced. The salt distilled uranium deposits tend to form the eutectic melt with iron, nickel, chromium for structural material of salt evaporator. In this study, we investigated the hold temperature limitation in order to prevent the formation of the eutetic melt between urnaium and other metals. The reactions between the uranium metal and stainless steel were tested at various conditions. And for enhancing the evaporation rate of the salt and the efficient recovery of the distilled salt, the thermal analysis of the salt distiller was conducted by using commercial CFX software. From the thermal analysis, the effect of Ar gas flow on the evaporation of the salt was studied.

Effect of Si Content on the Phase Formation Behavior and Surface Properties of the Cr-Si-Al-N Coatings (Cr-Si-Al-N 코팅의 상형성 및 표면 물성에 미치는 Si 함량의 영향)

  • Choi, Seon-A;Kim, Hyung-Sun;Kim, Seong-Won;Lee, Sungmin;Kim, Hyung-Tae;Oh, Yoon-Suk
    • Journal of the Korean institute of surface engineering
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    • v.49 no.6
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    • pp.580-586
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    • 2016
  • Cr-Si-Al-N coating with different Si content were deposited by hybrid physical vapor deposition (PVD) method consisting of unbalanced magnetron (UBM) sputtering and arc ion plating (AIP). The deposition temperature was $300^{\circ}C$, and the gas ratio of $Ar/N_2$ were 9:1. The CrSi alloy and aluminum targets used for arc ion plating and sputtering process, respectively. Si content of the CrSi alloy targets were varied with 1 at%, 5 at%, and 10 at%. The phase analysis, composition and microstructural analysis performed using x-ray diffraction (XRD) and field emission scanning electron microscopy (FESEM) including energy dispersive spectroscopy (EDS), respectively. All of the coatings grown with textured CrN phase (200) plane. The thickness of the Cr-Si-Al-N films were measured about $2{\mu}m$. The friction coefficient and removal rate of films were measured by a ball-on-disk test under 20N load. The friction coefficient of all samples were 0.6 ~ 0.8. Among all of the samples, the removal rate of CrSiAlN (10 at% Si) film shows the lowest values, $4.827{\times}10^{-12}mm^3/Nm$. As increasing of Si contents of the CrSiAlN coatings, the hardness and elastic modulus of CrSiAlN coatings were increased. The morphology and composition of wear track of the films was examined by scanning electron microscopy (SEM) and energy dispersive spectroscopy, respectively. The surface energy of the films were obtained by measuring of contact angle of water drop. Among all of the samples, the CrSiAlN (10 at% Si) films shows the highest value of the surface energy, 41 N/m.

Studies on the Strength of Briquette Ash Hardened by Cement (연탄재를 시멘트로서 경화(硬化)시켰을 때의 강도(强度)에 관(關)한 연구(硏究))

  • Kim, Seong-Wan
    • Korean Journal of Agricultural Science
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    • v.6 no.1
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    • pp.45-55
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    • 1979
  • This study made to find the variation of strengths of briquette ash which were hardened into cement. The briquette ash were mixed with the cement, ((cement (90%)+slaked lime (10%)) and ((cement (80%)+fly ash (20%)) in the ratio of 1:2, 1:3, 1:4, 1:5, 1:7 and 1:9, respectively, and these were compared with the one made of cement plus standard sand in the strengths of compression, tension and bending at the ages of 7 days and 28 days. The results from the study conducted preliminary without studying the economical aspects or duration of the products are summarized as follows: 1. The compressive strengths of mortar made of 1 to 2 ratios of cement to briquette ash, (cement+slaked lime) to briquette ash and (cement+fly ash) to briquette ash were 84%, 90% and 75% at the age of 7 days and 84.9%, 73.5% and 69.8%, respectively of those of Korean Standard values. 2. The compressive strength s of mortar made of 1 to 2 ratios of cement to briquette ash, (cement+slaked lime) to briquette ash and (cement+fly ash) to briquette ash were 69.3%, 75.1% and 41.3% at the age of 7 days and 56.4%, 49%, and 46.5% at the age of 28 days, respectively of the mortar made of standard sand. 3. The tension strengths of mortar made of 1 to 2 ratios of cement to briquette ash, (cement+slaked lime) to briquette ash, and (cement+fly ash) to briquette ash were 64.4%, 47.1% and 35.4% at the age of 7days and 69.6%, 64.8%, and 57.3%, respectively of that of the mort ar produced with standard sand. 4. The bending strengths of mortar made of 1 to 2 ratios of cement to briquette ash, (cement+slaked lime) to briquette ash, and (cement+fly ash) to briquette ash were 46.3%, 65.9% and 39.1% at the age of 7 days and 89.9%, 96.7%, and 85.1%, respectively of that of mortar produced with standard sand. 5. The bending strength of the mortar was lower than that of cement mortar, when the briquette ash were harqened into cement. However, the mortar produced by such method seemed to be used as the secondary products of cement or concrete. The additional usefullness of the hardened biquette ash can be found in contributing toward the solving the various pollution problems, the saving the labor costs needed to clean-up waste materials, and the saving the construction materials.

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Prediction of Acer pictum subsp. mono Distribution using Bioclimatic Predictor Based on SSP Scenario Detailed Data (SSP 시나리오 상세화 자료 기반 생태기후지수를 활용한 고로쇠나무 분포 예측)

  • Kim, Whee-Moon;Kim, Chaeyoung;Cho, Jaepil;Hur, Jina;Song, Wonkyong
    • Ecology and Resilient Infrastructure
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    • v.9 no.3
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    • pp.163-173
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    • 2022
  • Climate change is a key factor that greatly influences changes in the biological seasons and geographical distribution of species. In the ecological field, the BioClimatic predictor (BioClim), which is most related to the physiological characteristics of organisms, is used for vulnerability assessment. However, BioClim values are not provided other than the future period climate average values for each GCM for the Shared Socio-economic Pathways (SSPs) scenario. In this study, BioClim data suitable for domestic conditions was produced using 1 km resolution SSPs scenario detailed data produced by Rural Development Administration, and based on the data, a species distribution model was applied to mainly grow in southern, Gyeongsangbuk-do, Gangwon-do and humid regions. Appropriate habitat distributions were predicted every 30 years for the base years (1981 - 2010) and future years (2011 - 2100) of the Acer pictum subsp. mono. Acer pictum subsp. mono appearance data were collected from a total of 819 points through the national natural environment survey data. In order to improve the performance of the MaxEnt model, the parameters of the model (LQH-1.5) were optimized, and 7 detailed biolicm indices and 5 topographical indices were applied to the MaxEnt model. Drainage, Annual Precipitation (Bio12), and Slope significantly contributed to the distribution of Acer pictum subsp. mono in Korea. As a result of reflecting the growth characteristics that favor moist and fertile soil, the influence of climatic factors was not significant. Accordingly, in the base year, the suitable habitat for a high level of Acer pictum subsp. mono is 3.41% of the area of Korea, and in the near future (2011 - 2040) and far future (2071 - 2100), SSP1-2.6 accounts for 0.01% and 0.02%, gradually decreasing. However, in SSP5-8.5, it was 0.01% and 0.72%, respectively, showing a tendency to decrease in the near future compared to the base year, but to gradually increase toward the far future. This study confirms the future distribution of vegetation that is more easily adapted to climate change, and has significance as a basic study that can be used for future forest restoration of climate change-adapted species.

Regression of Left Ventricular Mass after Aortic Valve Replacement in Isolated Aortic Regurgitation (단독 대동맥판막 폐쇄부전 환자에서 대동맥판막 치환술 후 좌심실 질량의 변화)

  • Jung, Tae-Eun;Lee, Dong-Hyup;Lee, Seok-Soo
    • Journal of Chest Surgery
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    • v.43 no.6
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    • pp.614-618
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    • 2010
  • Background: The aim of our study was to assess the extent of regression of left ventricular mass after aortic valve replacement in isolated aortic regurgitation. Material and Method: Retrospective analysis of echocardiographic data was collected preoperative and postoperative 1 year. There were 20 patients (12 males, 8 females, mean age $55.8{\pm}11.8$ years, mean body surface area $1.64{\pm}0.19m^2$) with aortic regurgitation from 2002 through 2007. We studied the change of left ventricular ejection fraction, ventricular septum and left ventricular posterior wall thickness, and left vemtricular muscle index (LVMI). The control group was age matched with normal echocardiographic study results. Patients with combined surgery or infective endocarditis were excluded. Result: Seven cases of tissue valves and thirteen cases of mechanical valve were used. The valve sizes were 21 mm (3 cases), 23 mm (13 cases) and 25 mm (4 cases). The postoperative ($125.5{\pm}42g/m^2$) LVMI has decreased than preoperative LVMI ($212.3{\pm}80g/m^2$, p=0.000) but higher than that of control group ($80.5{\pm}15.9g/m^2$, p=0.000). Postoperative septal wall (systolic/diastolic: $13.5{\pm}3.4mm/17.1{\pm}4.1mm$) and left ventricular posterior wall (systolic/diastolic: $12.9{\pm}3.4mm/16.7{\pm}3.4mm$) thickness were slightly decreased after the valve replacement but was not significantly different than preoperative levels. And postoperative interventricular septal wall and left ventricular posterior wall thickness (systolic/diastolic: $8.6{\pm}1.4mm/12.1{\pm}1.7mm$, systolic/diastolic: $8.4{\pm}1.4mm/13.2{\pm}1.9mm$) were higher than that of the control group (p<0.001). Conclusion: The significant regression of LVMI after aortic valve replacement developed at postoperative one year but the level was higher than control group. The main cause of decreased LVMI is decreased in left ventricular dimension.