• Journal of the Korean Geographical Society
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• v.30 no.3
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• pp.242-254
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• 1995

The Hadano Basin is located at a distance of about 70kms and 60kms from Tokyo and Yokohama and lies in the south-west part of the Kanto region in Japan. The basin area, which correspoends to the catchment of the Kaname River, is about areal size of 60.7$\textrm{km}^2$ and extends about length of 8kms in E-W direction and about width of 5kms in N-S direction (Fig.1). The Hadano basin is filled with thick pile of the alluvum from deposits composed of volcanic materials, mostly came from the Hakone Volcano and overlain by Fuji Volcanic ashes. Fluvial deposits form the good aquifer, therefore water resources of Handano City has been largely depending upon the eroundwater. Urbanization and industrialization of the basin has been rapid in the last thirty years, after activation of "Factory Attraction Policy of Hadano City" in 1956. Growth in population and number of factory due to urbanization changed the land-use pattern of the basin rapidly and increased the water demands. Therefore, Hadano City exploited a new source of water supply, and have introduced the prefectureal waterworks since 1976. On the other hand, the rapid urbanization has brought about the pollution of streams in the basin by domestic sewage and industrial waste water. Diffusion rate of sewerage systems in Hadano City is 38% in 1993. In ordcr to examine the impact of anthropogenic factors on river environments, the author took up the change of land-use and diffusion area of sewerage as parameters, and performed field surveys on water discharge and quality. The survey has been made at upstream and downstream of the main stream regularly per month, to get informati ons about the variation of discharge and water quality aiong the stream and its diurnal fluctuation. Annual variation has been analyzed based the data from Hadano City Office. The results are summarized as follows. 1. Stream discharge has been increasing by urbanization (Fig.3). Water quality (C $l^{-10}$ , N $H^{+}$$_{ 4}$-N, BOD) has been improving gradually after the application of sewerage service, yet water pollution load at the lower station has increased than that at the upper one because of the larger anthropogenic discharge volumes (Fig.4). 2. Corrclation coefficient of discharges between upper and lower was 0.81-0.92. Pollutant loads of the R. Kamame after the confluence with R. Kuzuha grew up by 2.4-3.7 times as compared with its upper reaches, and it increased to 3.7-6.9 times after the confluence with the R. Muro (Fig.5). 3. The changes of water quality along the stream can be divided into two groups (Fig.6a). First: water quality of the R. Kaname and R. Shijuhachisse is becoming worse towards the lower reaches because the water from branches are polluted. Second: water quality are improved in the lower where spring and small branch streams supply clear water, for example R. Mizunashi, R. Muro and R. Kuzuha. 4. Measured discharge at the upper station in the R. Shijuhachisse is 0.153㎥/sec, and about 55% of this is recharged until it reaches to the lower point. The R. Mizunashi has a discharge of 1.155㎥/sec at the upper point, is recharged 0.24㎥/sec until the midstream and groundwater spring 0.2㎥/sec at the lower reaches. R. Kuzuha recharged all the mountain runoff (0.2㎥/sec) at the upper reaches. The R. Muro is supplied by many springs and the estimated discharge of spring was 0.47㎥/sec (Fig.6b). 5. Diurmal variations in discharge and water quality are influenced clearly by domestic and industrial waste waters (Fig.7, 8).ed clearly by domestic and industrial waste waters (Fig.7, 8).

• Journal of the Korea Academia-Industrial cooperation Society
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• v.17 no.11
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• pp.66-79
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• 2016

A discussion has recently emerged over the increase of approvals of K-REITs, which is concluded on the basis of how to raise funds for business activity, fulfill the expected rate of return and maximize the management of managing investment funds. In addition, corporations need to acknowledge the necessity of the capital structure reflected in the current economic environment and decision-making processes. This research analyzed the characteristics by investment types and influence factors about the debt ratio of K-REITs. The data were collected from general management about business state, investment, and finance from 2002 to 2015 in K-REITs (except for the GFC period of 2007~2009). The results of the research demonstrated the high ratios of the largest shareholder characteristics, which are corporation, pension funds, mutual funds, banks, securities, insurance, and, recently, the increasing ratio of the largest shareholder and major stockholder. The investment of K-REITs is increasing the role of institutional investors that take a leading development of K-REITs. The behaviors of simultaneous investment of institutional investors were analyzed to show that they received higher interest rates than other financial institutions and ran in parallel with attraction and compensation. The results of the multiple regressions analysis, utilizing variables about debt ratio were as follows. The debt ratio showed a negative (-) relation that profitability is increasing, which matches the pecking order theory and trade off theory. On the other hand, investment opportunities (growth potential) showed a negative (-) relation and assets scale that indicated a positive (+) relation. The research results are reflected as follows. K-REITs focused on private equity REITs more than public offering REITs, and in the case of financing the capital of others, loan capital is operated under the guarantee of tangible assets (most of real estate) more than financing of the stock market. Further, after the GFC, the capital of others was actively utilized in K-REITs business, and the debt ratio showed that the determinant factors by the ratio and characteristics of the largest shareholder and investment products.