• Journal of Distribution Science
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• v.12 no.10
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• pp.75-84
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• 2014

Purpose - This article aims to examine whether the stock issuance of firms in the retail industry follows Myers' (1984) pecking order theory, which is based on information asymmetry. According to the pecking order model, firms have a sequence of financing decisions, of which the first choice is to use retained earnings, the second one is to get into safe debt, the next involves risky debt, and the last involves finance with outside equity. Since the 2000s, the polarization of the LEs (Large enterprises) and SMEs (Small and Medium Enterprises) arose in the retail industry. The LEs exhibited an improvement in growth and profitability, whereas SMEs had a tendency to degenerate. This study contributes to corroborating the features of financing decisions in the retail industry distinguished from the other industries. Research design, data, and methodology - This study considers the stocks listed on the KOSPI and KOSDAQ markets from 1991 to 2013, and is more concentrated on the stocks in the retail industry. The data were collected from the financial information company, WISEfn. The empirical analysis is conducted by employing two measures of net equity issues (and), which were introduced in Fama and French (2005), and can be calculated from firms' accounting information. All variables are generated as the aggregate value of the numerator divided by aggregate assets, which, in effect, treats the entire sample as a single firm. Substantially, the financing decisions of the firms were analyzed by examining how often and under what circumstances firms issue and repurchase equity. Then, this study compares the features of the retail industry with those of the other industries. Results - The proportion of sample firms that show annual net stock issues reaching the level of the year's average was 54.33% for the 1990s, and fell to 39.93% per year for the 2000s. In detail, the fraction of the small firms actually increases from 45.08% to 51.04%, whereas that of large firms shows a dramatic decline from 58.94% to 24.76%. Considering the fact that the large firms' rapid increase in growth after the 2000s may lead to an increase in equity issues, this result is rather surprising. Meanwhile, net stock repurchases of assets are considerably disproportionate between the large (-50.11%) and the small firms (-15.66%) for the 2000s. Conclusions - Stock issuance of retail firms is not in line with the traditional seasoned equity offering based on information asymmetry. The net stock issuance of the small firms in the retail industry can be interpreted as part of an effort to reorganize business and solicit new investment to resolve degenerating business performance. For large firms, on the other hand, the net repurchase can be regarded as part of an effort to rearrange business for efficiency and amplifying synergy across business sections through spin-off. These results can help the government establish a support policy on retail industry according to size.

• Korean Journal of Optics and Photonics
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• v.12 no.3
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• pp.240-249
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• 2001

A high speed ultra-compact lens with a diffractive optical element (DOE) is designed, which can be applied to mobile communication devices such as IMT2000, PDA, notebook computer, etc. The designed hybrid lens has sufficiently high performance of less than f/2.2, compact size of 3.3 mm (1st surf. to image), and wide field angle of more than 30 deg. compared with the specifications of a single lens. By proper choice of the aspheric and DOE surface which has very large negative dispersion, we can correct chromatic and high order aberrations through the optimization technique. From Seidel third order aberration theory and Sweatt modeling, the initial data and surface configurations, that is, the combination condition of the DOE and the aspherical surface are obtained. However, due to the consideration of diffraction efficiency of a DOE, we can choose only four cases as the optimization input, and present the best solution after evaluating and comparing those four cases. On the other hand, we also report dramatic improvement in optical performance by inserting another refractive lens (so-called, field flattener), that keeps the refractive power of an original DOE lens and makes the petzval sum zero in the original DOE lens system. ystem.

• Journal of The Korean Association For Science Education
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• v.36 no.2
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• pp.295-302
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• 2016

In this study, we investigated a learning progression focusing on $5^{th}$ to $9^{th}$ graders' performances with dissolution and solution concepts using the construct modeling approach. We designed a construct map describing hypothetical pathways of the concept development of dissolution and solution by analyzing both National Science Curricula and related studies. A conceptions test consisting of ordered multiple-choice items was developed and administered to 826 students. A revised construct map was derived from analyses of the results based on the partial credit model, a branch of polytomous item response theory. The sequence of dissolution and solution concepts presented in the current science curriculum was found to correspond with the learning progression of the students. However, the lower anchor, the concept of the homogeneity of particles in solution, and the factors affecting solubility were not consistent with the expected levels of the construct map. After revising the construct map, we proposed a learning progression for dissolution and solution concepts with five levels: Students of level 1 (the lower anchor) recognize the particles in the solution but misunderstand various concepts; Students of level 2 understand the homogeneity of particles in solution; Students of level 3 understand solubility and the conservation of particles during dissolution; Students of level 4 partially understand the interaction between particles; and Students of level 5 (the upper anchor) understand the interaction between particles and the factors affecting solubility.

• Journal of the Korean Institute of Landscape Architecture
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• v.15 no.1
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• pp.17-37
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• 1987

The purpose of this study is to establish more rational and practical planning theory for amusement park. It analyze and consider the fluctuation of people who come and use the Tong-Ch'on amusement park. The results drawn from this reserch work are as follows; 1. The main visitors of the Tong-Ch'on amusement park are students in their twenties and thirties, and people whose incomes are below 300,000 Won a month. The purpose of visit is for a rest rather than for amusement and user prefer summer, while the user is so rare in wintertime. Those phenomena observed are somewhat different from the real purpose of a amusement park which is on purpose to make profits by offering entertainments to the users. So planner should pay attention to the three points. They are varieties, seasonable diversification and fantastic character of facilties, in the amusement park. 2. The access time of the Tong-Ch'on amusement park was 41 minutes, the use frequency was 4 times a year and resident time was 164 minutes. The relationship of the three factors are as follows; log Y(F) =1.7832-0.0277(A.T) R$^2$=0.75 Y(R. F)=31.8885+3.3217(A.T) R$^2$=0.53 Y(R. T)=224.8959-87.8309 1og(F) R$^2$=0.38 F;Use frequency(time/year) A.T;Access Time(minute) R.T;Resident Time(minute) 3. In the choice of space, there were much differences according to tole user's age, job, degree of education, companion type and purpose of use. 4. There are considerable correlation between use fluctuation and some factors. The factors are season(summer, winter) as a time, temperature, cloud amount, duration of sunshine, weather(rainy-day) as a climate and a day of the week(weekday, holiday) as a social system. The important variables are temperature, cloud amount, duration of sunshine and a day of the week(weekday, holiday) to estimate the user of amusementpark. 5. 1 can reduce the following two types of regression models. 1) log$\sub$e/ Y1 = 6.9114 + 0.l135 TEM + 0.00002 SUN -0.4068W1 + 0.4316 W3 (R$^2$= 0.94) 2) log$\sub$e/ Y2 = 7.2069 + 0.l177 TEM - 0.0990 CLO + 0.4880 W3 (R$^2$=0.95) Y; Number of User TEM; Temperature CLO; Amount of cloud SUN; Duration of Sunshine W1; Weekday W3; Holiday Those model is in order to estimate the user for management of Tong-Ch'on amusement park and use on the computation of facility sloe for reconstruction. Besides the amusement park, city park and outdoor recreation area could estimate of user through this method. But, I am not sure about the regression models because I did not apply the regression models to the other amusement park, city Park or outdoor recreation area. Therefore, I think that this problem needs to be studied on in the future.

• Strategy21
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• s.41
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• pp.174-207
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• 2017

Human history shows diverse strategies for survival and prosperity. This study introduces the concept of the expansion of wealth as a key to explain choice and behavior of political entities. American scholar, -Bruce Bueno de Mesquita-, offers theoretical grounds for this concept in that the cores of selectorate theory is settled. The political entity consists of two groups, -the winning coalition that has power to replace leader and non-winning coalition that has not. Leaders implement policies serving for the welfare of winning coalition in return for their loyalty. Both internal problems caused by demographic changes and external ones of climate changes, epidemic disease, or invasion compel leader and winning coalition to adopt policies of expansion that they believe may lead to the acquisition of wealth needed to counter those problems. The process starts by occupying one spot where other entities reside and then connecting it to its own. The line between spots functions as a foothold to form a new line to other spots. By repeating this process, a space is created in which new laws and orders are instated. In the early stage of expansion, war is hardly avoidable. Once finished successfully, the political circumstance tilts to encourage economic activities in order to generate national revenues to strengthen political power of winning coalition. However, as scale of economic activities grows, so does political power of civic classes in production and trade. To gain financial support required to run the political entity, delegation of power or bestowing autonomy to non-winning coalition is inevitable. Thus, expansion is not the ultimate solution, only to prolong the political survival if succeed. Maritime power came to attractive option when overland expansion had become obstructed. It offered much greater advantages in terms of political risks and financial burdens in exploring new regions of precious commodities than overland expansion. Each political entity around world have been, for the first time in human history, connected by maritime means since 15th century. It is worthy of noting that land conditions propelled people out to sea. Political and economic situations created opportunities to exploit geographical position in pursuit of wealth. In the 21st century, we witness the operation of international winning coalition that presides over the rules of expansion. Competing for market is synonymous to the expansion in this era, the cause and aim of it has not been changed though. Energy and dollars are key factors of expansion since the end of the 2nd world war. No matter what the forms and conditions change, naval power is still the most relevant means for expansion as it retains unique characters of maneuver, flexibility, continuity, display and projection of power. The strategy for using naval power should be in line with two different approaches for expansion: Approaches to the international winning coalition by making contribution to world order, and approaches to the non-international winning coalition by enhancing military diplomatic activities. The former will serve our share of winning coalition while the latter will open chances to acquire further prosperity.

• Journal of KIISE:Computer Systems and Theory
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• v.32 no.11_12
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• pp.692-704
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• 2005

With the improvement of computer hardware, GPUs(Graphics Processor Units) have tremendous memory bandwidth and computation power. This leads GPUs to use in general purpose computation. Especially, GPU implementation of compute-intensive physics based simulations is actively studied. In the solution of differential equations which are base of physics simulations, tridiagonal matrix systems occur repeatedly by finite-difference approximation. From the point of view of physics based simulations, fast solution of tridiagonal matrix system is important research field. We propose a fast GPU implementation for the solution of tridiagonal matrix systems. In this paper, we implement the cyclic reduction(also known as odd-even reduction) algorithm which is a popular choice for vector processors. We obtained a considerable performance improvement for solving tridiagonal matrix systems over Thomas method and conjugate gradient method. Thomas method is well known as a method for solving tridiagonal matrix systems on CPU and conjugate gradient method has shown good results on GPU. We experimented our proposed method by applying it to heat conduction, advection-diffusion, and shallow water simulations. The results of these simulations have shown a remarkable performance of over 35 frame-per-second on the 1024x1024 grid.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.21 no.9
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• pp.509-517
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• 2020

This study examined Sino-globalization through the network analysis of Chinese immigrants, international students, and travelers. The data were collected from the United Nations for immigrants, UNESCO for international students, and Ministry of Culture and Tourism of China for travelers. Consequently, Chinese immigrants and international students' favorite destinations were advanced Western countries, and Chinese travelers showed a high preference for Asian regions. Specifically, Thailand was the most popular destination for traveling, while the U.S. appeared to be the main destination for Chinese immigrants and students. The QAP analysis results showed a statistically significant correlation between the immigrant network and international student network. MR-QAP analysis found a causal relationship between the two networks. These findings may serve as empirical evidence for the Chinese government to review potential opportunities and problems related to Sino-globalization and provide the basis for preparing policy measures for other countries. Subsequent studies should compensate for research limitations by analyzing specific factors affecting national choice of Chinese immigrants, students, and travelers. The economic, social, and cultural impacts of China's globalization on other countries need to be discussed using qualitative research.

• Proceedings of the Korea Water Resources Association Conference
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• 2010.05a
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• pp.273-277
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• 2010

This research was performed to examine changes in the timing of the growth of crops along with changes in temperatures due tochanges and to analyze the change of water-supply-reliability by adding an analysis of the change of agricultural water supply patterns in the basin area of Miryang dam in Korea. Had-CM3 model from U.K. was the tool adopted for the GCM model, a stochastic, daily-meteorology-generation-model called LARS-WG was alsoused for downscaling and for the climate change scenario (A1B) which represents Korea's circumstances best. First of all, to calculate changes in the timing of the growth of crops during this period, the theory of GDD was applied. Except for the period of transplanting and irrigation, there was no choice but to find the proper accumulated temperature by comparing actual temperature data and the supply pattern of agricultural use due to limited temperature data. As a result, proper temperatures were found for each period. $400^{\circ}C$ for the preparation period of a nursery bed, $704^{\circ}C$ for a nursery bed's period, $1,295^{\circ}C$ for the rice-transplanting period, $1,744^{\circ}C$ for starting irrigation, and $3,972^{\circ}C$ for finishing irrigation. To analyze future agricultural supply patter changes, the A1B scenario of Had-CM3 model was adopted, and then Downscaling was conducted adopting LARS-WG. To conduct a stochastical analysis of LARS-WG, climate scenarios were generated for the periods 2011~2030, 2046~2065, 2080~2099 using the data of precipitation andMax/Min temperatures collected from the Miryang gauging station. Upon reviewing the result of the analysis of accumulated temperatures from 2011~2030, the supply of agricultural water was 10 days earlier, and in the next periods-2046~2065, 2080~2099 it also was 10 days earlier. With these results, it is assumed that the supply of agricultural water should be about 1 month ahead of the existing schedule to meet the proper growth conditions of crops. From the results of the agricultural water supply patterns should be altered, but the reliability of water supply becomes more favorable, which is caused from the high precipitation change. Furthermore, since the unique characteristics of precipitation in Korea, which has high precipitation in the summer, water-supply-reliability has a pattern that the precipitation in September could significantly affect the chances of drought the following winter and spring. It could be more risky to make changes to the constant supply pattern under these conditions due to the high uncertainty of future precipitation. Although, several researches have been conducted concerning climate changes, in the field of water-industry, those researches have been solely dependent on precipitation. Even so, with the high uncertainty of precipitation, it is difficult for it to be reflected in government policy. Therefore, research in the field of water-supply-patterns or evapotranspiration according to the temperature or other diverse effects, which has higher reliability on anticipation, could obtain more reliable results in the future and that could result in water-resource maintenance to be safer and a more advantageous environment.

• Journal of radiological science and technology
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• v.35 no.2
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• pp.125-132
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• 2012

In this study a group of experts and clinical radiological technologists were surveyed to evaluate the clinical importance of current subjects in the radiological sciences. For the data collection and analysis, an open-ended questionnaire was distributed to the group of experts, and a multiple choice questionnaire was distributed to radiological technologists. Subjects were classified into 9 groups for analysis of the importance of subjects, and in regard to the questionnaire design for measurement of variables, departments and type of hospital were set up as independent variables, and the 9 groups of subjects were set up as dependent variables. As a result, clinical radiological technologists perceived Diagnostic Imaging Technology and practical courses, including general radiography, CT and MRI, as the most clinically necessary subjects, and the group of experts placed most weight on basic courses for the major. The result of this study suggests that the curriculum should be revised in a way that combines theory and practice in order to foster radiological technologists capable of adapting to the rapidly changing healthcare environment.

• Journal of Korean Society of Transportation
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• v.28 no.2
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• pp.65-75
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• 2010

When the cost-benefit analysis is applied for social discount rate(SDR), the choice of SDR to be used in analysis is critical. One of the important issues when public investment project evaluate what is the SDR theory, so there have studied about SDR and no exact answer it so far. In this study, there are three of SDR theories that be estimated social time preference rate, social investment returns and the weighted average method from 1990s, 2000 to 2003 and 2004 to 2008.. First, social time preference method computes consumer's interest rate and the model of Pearce and Ulph(1999). Second, social investment returns method computes private returns of capital. Third, the weighted average method computes the model of Squire, L., Herman G. van der Tak(1975) and private consumption expense and the private investment expense. SDR is estimated in the rage between 2.4% and 3.9% from 2004 to 2008. It is not appropriate that the interest rate was unstable. But it is consider for social equity from present to future generations. Considering this things, downward need to the value of current SDR 5.5%.