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Cash Retention and Firm Value of Entertainment Enterprises (엔터테인먼트 기업의 현금보유가 기업가치에 미치는 영향에 관한 연구)

  • Kim, Nam-Gon;Kim, Jee-Hyun
    • Journal of Korea Entertainment Industry Association
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    • v.15 no.6
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    • pp.55-70
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    • 2021
  • This study investigates the following important financial questions using entertainment enterprises: 1) how does cash reserve affect a firm's financial value? 2) what factors influence the level of cash retention of a firm? For empirical tests, we use accounting and financial data of entertainment companies listed in the KOSPI and KOSDAQ markets for a long-term time period covering from 2000 to 2018. The main findings of this paper are as follows: First, entertainment companies maintain higher level of cash holdings compared to non-entertainment companies. Second, the cash holdings of entertainment enterprises have positive influence on firms' financial value. Third, among various firm characteristics known for affecting the cash holdings level, leverage and profitability exhibit strong relationships in entertainment enterprises. Entertainment firms with lower leverage and higher profitability tend to reserve more cash inside them. These findings suggest that entertainment companies are highly valued by stock market participants as having prospective opportunities, thus, firms with sufficient cash holdings tend to have higher firm value. In addition, these findings imply that cash in entertainment enterprises functions as a substitute for debts and the cash holdings are less likely driven by agency problems.

A Study on Success Factors of Global Strategy of Cultural Content Company: Focusing on Iconix (문화콘텐츠기업 글로벌전략의 성공 요인에 관한 연구: 아이코닉스를 중심으로)

  • Han, JooHee;Choi, MyeongCheol;Zhang, MengTian
    • The Journal of the Convergence on Culture Technology
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    • v.7 no.4
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    • pp.337-342
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    • 2021
  • The purpose of this study is to analyze the environment and strategic behaviors of cultural contents companies with a focus on Iconix, and to derive strategic recommendations for Iconix to pursue in order to create a sustainable competitive advantage. As a result of the analysis, Iconix is a vertically integrated development-business system from content planning to business in line with their mission to develop into an all-weather entertainment content provider that can confidently compete with the major players in the US and Europe that are already leading the global market. It is building a strong global business network covering both domestic and overseas markets in stages, taking a high-level global strategy. However, depending on Pororo's success or due to various problems within the organizational structure, it is facing limitations. Therefore, if the various strategic suggestions presented in this study are implemented based on the One Source Multi Channel/Multi Use strategy that can maximize the added value of contents through the participation and business linkage of leading companies in each sector of the entertainment industry, the total entertainment will be stabilized. It will establish itself as a leader in the contents industry.

Current Status and Prospect of Seaweed-based Biofuels as Renewable Energy Resource (재생가능 에너지원으로서의 해조류 유래 바이오 연료의 현황과 전망)

  • Liu, Jay
    • Clean Technology
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    • v.28 no.2
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    • pp.163-173
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    • 2022
  • Research and development of biofuels as one of the means to mitigate global warming and to avoid fossil fuel depletion has occurred for more than 30 years. However, there has only been limited distribution of a few first- and second-generation biofuels, and widespread supply and consumption of biofuels is still far from a reality. Although a relatively recently studied third-generation biofuel derived from seaweed biomass has been shown to have many advantages, it is yet to be deployed in commercial-scale seaweed biorefineries. This review paper examines the advantages and disadvantages of seaweed biorefineries for the entire value chain covering from seaweed and its cultivation to biofuel production based on an extensive literature search and the author's experience of conducting feasibility studies pertaining to seaweed biorefineries for over 10 years. For this purpose, the literature survey will cover the current status of seaweed production and its research and development worldwide, conversion technologies for biofuel production from seaweed based on bench-scale experiments, and large-scale techno-economic feasibility studies for seaweed conversion to biofuels and bioenergy. In addition, the main problems expected with the commercialization of seaweed-based biofuels will be identified. Finally, the current status of seaweed biorefinery technology and the author's views on its promising future will be summarized.

The Educational Acceptance of Religion in Multicultural Society: Focused on Cooperative Religious Education (다문화사회에서 종교의 교육적 수용 - 협력 종교 교육을 중심으로 -)

  • Kim Jin-young
    • Journal of the Daesoon Academy of Sciences
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    • v.45
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    • pp.153-186
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    • 2023
  • Since the 2000s, Korean society has been transitioning into a multicultural society with a sharp increase in the influx of various non-Koreans including immigrant workers, immigrant spouses, international students, and refugees. As a result, Korea, which had maintained religious peace and coexistence as a multi-religious society, is showing signs of increased risks of social problems such as the surfacing of conflicts between religions. Religion can contribute to the integration and safety of communities in the process of becoming a multicultural society, but at the same time, it requires discussion from an educational perspective because of its ambivalence in potentially causing conflict within communities. Considering that one of the main functions of religion is social integration, religious education is required for the stable settlement of multicultural societies. In recognition of this, discussion regarding a new perspective on religious education is needed to respond to religious diversity and to understand the current society and the means of becoming a global citizen. This new discussion would be a 'general religious education' model that provides an education covering various religious and non-religious worldviews in order to cultivate 'religious literacy.' However, in a multicultural society, while general religious education may be useful in reducing prejudice and discrimination among students in an integrated environment, it should also be recognized that a 'special religious education' would be needed to acknowledge the unique values of each human group. This would be the most effective approach to multiculturalism. Therefore, this study proposes a form of 'cooperative religious education,' which combines general religious education and special religious education as a direction for religious education. In providing readers with background context, this study will review Korean religious policies and religious education, and then present realistic methods that can be implemented in schools.

An Analysis of 'The Phases of the Moon', Contents of 9th Grade Science Textbook (중학교 3학년 과학 교과서의 '달의 위상변화' 문제점 분석)

  • Chae, Dong-Hyun
    • Journal of The Korean Association For Science Education
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    • v.29 no.8
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    • pp.874-885
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    • 2009
  • The purpose of this study is to analyze illustrations, contents, and experiments in 6 kinds of science textbook from the 9th grade covering the phases of the Moon (on the phases of the Moon in six 9th grade science textbook) and to suggest coherent and effective contents and frame of the science textbook. Hence, the researcher decided the study problem. The study problems are as follows; 'Are the illustrations in the science textbook presented to help understand the phases of the Moon depending on the position of the observer?', 'Does the contents of the book clearly mention the phases of the Moon?', 'Can students understand the phases of the Moon through the experiments in the science textbook?', 'Do illustrations, contents, and experiment of the science textbook consistently explain the phases of the Moon?'. 10 persons (9graduate students including the researcher) took part in this study. All things unanimously agreed upon by all participants were reflected in the results. The results are as follows: First, the universal observer's view point is mixed with the earth observer's view in the illustration of these science textbook regarding the phases of the Moon. Moreover, illustrations of some textbooks are presented with such words as 'sunrise', 'midnight' and consequently contain too much. Second, the contents of the science textbook concerning the phases of the Moon is not described clearly. In addition, they don't give clear and detailed explanations for the reason of these changes. Third, all of the textbooks, except one textbook, describe the experiment regarding the phases of the Moon with the earth observer's view point but don't specifically mention that the view point is that of the earth observer's view point. Fourth, illustrations, contents, and experiments in the science textbook don't coherently explain the phases of the Moon. In addition, it is confirmed through the process of the result analysis that the described contents in the science curriculum is not well constructed or logical.

Exploring Collaborative Learning Dynamics in Science Classes Using Google Docs: An Epistemic Network Analysis of Student Discourse (공유 문서를 활용한 과학 수업에서 나타난 학생 담화의 특징 -인식 네트워크 분석(ENA)의 활용-)

  • Eunhye Shin
    • Journal of The Korean Association For Science Education
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    • v.44 no.1
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    • pp.77-86
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    • 2024
  • This study analyzed students' discourse and learning to investigate the impact of using Google Docs in science classes. The researcher, who is also a science teacher, conducted classes for 49 second-year middle school students. The classes included one using Google Docs and another using traditional paper worksheets covering identical content. Students' discourse collected from each class was compared and analyzed using Epistemic Network Analysis (ENA). The findings indicated that in the class using Google Docs, the proportion of discourse related to task was higher compared to the traditional class. More specifically, discourse regarding taking and uploading photos was prominent. However, such discourse did not lead to peer learning as intended by the teacher. An analysis based on achievement levels revealed that the class utilizing Google Docs had a relatively higher proportion of discourse from lower-achieving students. Additionally, differences were observed in the types of utterances and connection structures between the higher and lower-achieving students. The higher-achieving students took a leading role in providing suggestions and explanations, while the lower-achieving students played a role in transcribing them, with this tendency being more pronounced in the class using Google Docs. Lastly, students' changes in perception regarding the cause of static electricity were visualized using ENA. Based on the research findings, this study proposes strategies to enhance collaborative learning using Google Docs, including the use of open-ended problems to allow diverse opinions and outputs, and exploring the potential use of ENA to assess the learning effects of conceptual learning.

A Study on the Improvement Plans of Police Fire Investigation (경찰화재조사의 개선방안에 관한 연구)

  • SeoMoon, Su-Cheol
    • Journal of Korean Institute of Fire Investigation
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    • v.9 no.1
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    • pp.103-121
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    • 2006
  • We are living in more comfortable circumstances with the social developments and the improvement of the standard of living, but, on the other hand, we are exposed to an increase of the occurrences of tires on account of large-sized, higher stories, deeper underground building and the use of various energy resources. The materials of the floor in a residence modern society have been going through various alterations in accordance with the uses of a residence and are now used as final goods in interioring the bottom of apartments, houses and shops. There are so many kinds of materials you usually come in contact with, but in the first place, we need to make an experiment on the spread of the fire with the hypocaust used as the floors of apartments, etc. and the floor covers you usually can get easily. We, scientific investigators, can get in contact with the accidents caused by incendiarism or an accidental fire closely connected with petroleum stuffs on the floor materials that give rise to lots of problems. on this account, I'd like to propose that we conduct an experiment on fire shapes by each petroleum stuff and that discriminate an accidental tire from incendiarism. In an investigation, it seems that finding a live coal could be an essential part of clearing up the cause of a tire but it could not be the cause of a fire itself. And besides, all sorts of tire cases or fire accidents have some kind of legislation and standard to minimize and at an early stage cope with the damage by tires. That is to say, we are supposed to install each kind of electric apparatus, automatic alarm equipment, automatic fire extinguisher in order to protect ourselves from the danger of fires and check them at any time and also escape urgently in case of fire-outbreaking or build a tire-proof construction to prevent flames from proliferating to the neighboring areas. Namely, you should take several factors into consideration to investigate a cause of a case or an accident related to fire. That means it's not in reason for one investigator or one investigative team to make clear of the starting part and the cause of a tire. accordingly, in this thesis, explanations would be given set limits to the judgement and verification on the cause of a fire and the concrete tire-spreading part through investigation on the very spot that a fire broke out. The fire-discernment would also be focused on the early stage fire-spreading part fire-outbreaking resources, and I think the realities of police tire investigations and the problems are still a matter of debate. The cause of a fire must be examined into by logical judgement on the basis of abundant scientific knowledge and experience covering the whole of fire phenomena. The judgement of the cause should be made with fire-spreading situation at the spot as the central figure and in case of verifying, you are supposed to prove by the situational proof from the traces of the tire-spreading to the fire-outbreaking sources. The causal relation on a fire-outbreak should not be proved by arbitrary opinion far from concrete facts, and also there is much chance of making mistakes if you draw deduction from a coincidence. It is absolutely necessary you observe in an objective attitude and grasp the situation of a tire in the investigation of the cause. Having a look at the spot with a prejudice is not allowed. The source of tire-outbreak itself is likely to be considered as the cause of a tire and that makes us doubt about the results according to interests of the independent investigators. So to speak, they set about investigations, the police investigation in the hope of it not being incendiarism, the fire department in the hope of it not being problems in installments or equipments, insurance companies in the hope of it being any incendiarism, electric fields in the hope of it not being electric defects, the gas-related in the hope of it not being gas problems. You could not look forward to more fair investigation and break off their misgivings. It is because the firing source itself is known as the cause of a fire and civil or criminal responsibilities are respected to the firing source itself. On this occasion, investigating the cause of a fire should be conducted with research, investigation, emotion independent, and finally you should clear up the cause with the results put together.

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Shadow of War Covering the Steam Punk Animations (스팀펑크 애니메이션에 드리운 전쟁의 그늘 -미야자키 하야오 감독의 작품을 중심으로-)

  • Oh, Jin-hee
    • Cartoon and Animation Studies
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    • s.46
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    • pp.63-84
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    • 2017
  • Overwhelming images of vividly colored aircraft flying across the blue sky and steam gushing from massive machines are reminiscent of Japanese animation films, especially of works by master director Hayao Miyazaki. By presenting together steam engines, which are mechanical devices of the Industrial Age in the past, and aircraft of the future age, the director constructs ambiguous space and time. These special time and space constitute nostalgia for past time, with devices called steam engines as a medium, and a longing for science and the future as represented by aircraft. In addition, the anticipation and disappointment, ideals and regrets of humans who see these two from the perspective of the present are projected on the works. This shares the characteristic of the steam punk genre, which seeks to return to the past rather than to face current problems. A subgenre of science fiction (henceforth "sci-fi"), steam punk reflects fundamental skepticism of science and technology and mechanized civilization, which have developed beyond human control. In addition, as works that clearly display such characteristics, director Miyazaki's and < $Nausica{\ddot{a}}$ of the Valley of Wind> can be examined. With spectacles of steam engines and aircraft, these two works enticingly visualize narratives about nature and humans and about the environment and destruction. Such attractiveness on the part of the master director's works has led to support from fans worldwide. However, often in the backgrounds of director Miyazaki's works, which have depicted ideal worlds of nature, environment, and community as highly concentrated fantasies, lie presuppositions of war and the end of the world. As works that are especially prominent in such characteristics, there are and . These two works betray the expectations of the audience by establishing the actual wartime as the temporal background and proceeding toward narratives of reality. Trapped in the ontological identity of the director himself, the war depicted by him projects a subjective and romantic attitude. Such a problem stems also from the ambiguity of the hybrid space and time, which is basic to the steam punk genre. This is because the basic characteristic of steam punk is to transplant past time, which humans were able to control, in the future from a perspective of optimism and longing via steam engines rather than to face current problems. In this respect, steam punk animation films in themselves can be seen as having significance and limitations at the same time.

A Study on the Characteristic of Pollutants of Water Quality and Sediments in Gul-po Stream Basin (굴포천 유역 내 수질 및 퇴적물의 오염물질 특성 파악에 관한 연구)

  • Ahn, Tae-Woong;Jung, Jae-Hoon;Kim, Tae-Hoon;Kim, Sea-Won;Choi, I-Song;Oh, Jong-Min
    • Journal of Korean Society of Environmental Engineers
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    • v.34 no.7
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    • pp.495-503
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    • 2012
  • The water quality of Gul-po Stream, the subject of this study, has been deteriorating because of the inflow of domestic sewage and the industrial wastewater due to industrialization and the problems relating to the structure of river including slow flow rate and the covering of river. In particular, the domestic sewage from small-medium sized factories by the river and large-scale industrial complex by the upper and middle streams of the river, and the domestic sewage from increasing population due to the regional development are the main pollution sources. Thus, this study aims to survey the water quality and the sediment affecting Gul-po Stream; monitor the state of pollution in water body; assess the yield of sediment and investigate the water quality of river and the problems arising from sediment; and then suggest reasonable ways to improve the situation. The findings from surveying pollution load shows the discharge increases up to average 72.8 times from the upper stream to the downstream of Gul-po Stream, and pollution load increases up to: SS 111 times, BOD 150 times, COD 145 times, the nutrient T-N 222 times and T-P 312 times on an average basis. As for the pollution concentration range, ignition loss is 1.29~12.43%; COD is 4,015~37,547 kg/day; T-N and T-P 94.8~352.5 kg/day and 81.8~372.3 kg/day, respectively. As for the releasing rate of sediment, T-N is -14.46~$156.61mg/m^2/day$; T-P is -11.53~$26.10mg/m^2/day$, indicating the likelihood of internal contamination due to the elution of sediment. This study is expected to be used as basic data to manage Gul-po Stream basin.

A study on inspection methods for waste treatment facilities(II): Derivation of problems and improvement direction in inspection methods (폐기물처리시설의 세부검사방법 마련연구(II): 세부검사방법 문제점도출 및 개선방향 설정)

  • Pul-Eip Lee;Eunhye Kwon;Jun-Ik Son;Jun-Gu Kang;Taewan Jeon;Dong-Jin Lee
    • Journal of the Korea Organic Resources Recycling Association
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    • v.31 no.1
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    • pp.85-100
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    • 2023
  • In this study, in order to improve the installation periodical inspection method of waste treatment facilities, we conducted on-site surveys of waste treatment facilities classified into six fields, grasped the problems of inspection methods, and made improvements accordingly. And revised the inspection method for waste treatment facilities. As a result, in the field of incineration and incineration heat recovery, inspection methods such as total temperature measurement and one-year TMS data comparison using a thermal imaging camera were established. And for the safety of the inspected person, it was applied so that the waste can be replaced with a document without opening it. In the case of landfill facilities, the details regarding the use of video information processing equipment and the management of facilities covering the upper part of the landfill facility are presented in the law, but the items that do not have a inspection methods were applied to the inspection method. In the case of Food Waste Treatment Facility, inspection methods were put in place to ensure compliance with standards for foul-smelling fish in odor control, a major cause of complaints. As a result, 10 out of 18 improvement proposals were reflected in the incineration and sterilization grinding, cement kiln, and incineration heat recovery facilities, and 11 out of 12 improvement proposals were reflected in the landfill facility. In the case of food distribution waste treatment facilities, 10 out of 12 improvement proposals were reflected, and a total of 31 inspection methods were improved.