• Journal of Korea Trade
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• v.26 no.6
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• pp.118-135
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• 2022

Purpose - The purpose of this study is to investigate the relationships among Chinese state-owned enterprises (SOEs), previous M&A experience, and the probability of deal completion in cross-border mergers and acquisitions (CBMAs). Since Chinese SOEs tend to be recognized by host countries as agents of their home country government, this study argues that SOEs will face difficulties in completing CBMA deals. However, the study expects that these difficulties may vary depending on whether the firm has previous M&A experience because firms can gain the knowledge and capabilities necessary to implement subsequent M&As successfully from past M&A experience. Design/methodology - To investigate our argument, we conduct a logistic regression using a sample of 363 CBMA deals from 304 Chinese publicly listed firms during 2007 to 2017. We used SOEs as an independent variable, experience of domestic and foreign M&As as moderating variables, respectively, and CBMA deal completion as the dependent variable. Findings - The study shows a negative and significant relationship between Chinese SOEs and the completion likelihood of CBMA deals. We find that this negative relationship is strengthened when the firm had prior domestic M&A experience, whereas foreign M&A experience alleviated the negative relationship. Originality/value - The issue of government ownership has remained unclear since government intervention has both advantages and disadvantages in pursuing CBMAs. Our findings support literature that argues Chinese SOEs face legitimacy concerns in the host countries, thereby lowering their CBMA deal completion likelihood. Furthermore, the study enriches the literature by identifying different moderating effects of domestic and foreign M&A experience on the negative relationship between SOEs and CBMA deal completion.

• Asian Journal of Business Environment
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• v.13 no.4
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• pp.19-28
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• 2023

Purpose: Emerging markets under industrialization have become increasingly influential over the global natural-resource transactions. However, their average deal completion rates have been relatively low. The international business (IB) literature regards the low rate as evidence of 'double hurdle', the extra disadvantages in doing overseas business for firms from developing countries. Because legitimacy building mitigates liability of foreignness, we argue that an acquirer's environmental responsibility effectively builds legitimacy. Research design, data and methodology: Stakeholders in the host country spread the acquirer's environmental responsibility so that, by raising legitimacy, they may strengthen the link between environmental responsibility and deal completion. Our dataset consists of the 608 cross-border acquisition deals announced by the 196 firms in Brazil, Russia, India, and China over 2008-2019 period. Results: A logit regression result confirms that environmental responsibility increases the likelihood of acquisition deal completion. Also, host-market stakeholders positively moderate the relationship between environmental responsibility and the likelihood of deal completion. Conclusions: Overall, this study contributes to the IB literature by identifying environmental responsibility as a key approach to lowering the double hurdle in internationalization of firms in emerging markets. Any emerging multinationals interested in the foreign, brownfield entries to the natural-resource industries must enhance the environmental responsibility, which turns out extremely important.

• Journal of the Institute of Electronics Engineers of Korea SP
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• v.44 no.5
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• pp.54-63
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• 2007

The purpose of this study is to present a new energy minimization method for image completion with hierarchical approach. The goal of image completion is to fill in missing part in a possibly large region of an image so that a visually plausible outcome is obtained. An exemplar-based Markov Random Field Modeling(MRF) is proposed in this paper. This model can deal with following problems; detection of global features, flexibility on environmental changes, reduction of computational cost, and generic extension to other related domains such as image inpainting. We use the Priority Belief Propagation(Priority-BP) which is a kind of Belief propagation(BP) algorithms for the optimization of MRF. We propose the hierarchical Priority-BP that reduces the number of nodes in MRF and to apply hierarchical propagation of messages for image completion. We show that our approach which uses hierarchical Priority-BP algorithm in image completion works well on a number of examples.

• Journal of Korean Institute of Industrial Engineers
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• v.39 no.5
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• pp.429-439
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• 2013

The Korean Veterans' Pension Fund has previously pre-purchased Gibril Tower on Business Complex in Dubai, UAE, via a project-financed construction investment. Although the property is near completion, the investor syndicate's attempt to debt-finance due arrears was foiled in Dubai central bank's credit control of real estaterelated loans. Accordingly, the investment coordinator offered an additional capital injection, a collateralized leverage, and a maturity extension to the syndicate. If the syndicate rejects the offer, they may risk a nearcomplete capital loss and a possible default of the main contractor. Otherwise, the syndicate may still face uncertainties regarding interest receivables, principal re-payment, foreclosure, economic recession in Dubai, and the Islamic bond bill in the Korean Parliament. A possible exercise of the latter option may be due to the agency-prone nature of pension fund managers. Given these qualitative risk factors as at April 1, 2011, a real options approach-implied optimal decision suggests an extended and complete cash augmentation into the project finance deal.

• Journal for History of Mathematics
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• v.27 no.1
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• pp.1-12
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• 2014

From the mid 17th century, Joseon mathematics had a new beginning and developed along two directions, namely the traditional mathematics and one influenced by western mathematics. A great Joseon mathematician if not the greatest, Hong JeongHa was able to complete the Song-Yuan mathematics in his book GuIlJib based on his studies of merely Suanxue Qimeng, YangHui Suanfa and Suanfa Tongzong. Although Hong JeongHa did not deal with the systems of equations of higher degrees and general systems of linear congruences, he had the more advanced theories of right triangles and equations together with the number theory. The purpose of this paper is to show that Hong was able to realize the completion through his perfect understanding of mathematical structures.

• Journal of Korean Institute of Industrial Engineers
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• v.26 no.3
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• pp.238-248
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• 2000

Facilities are getting more automated and informative in modern manufacturing systems, especially in semiconductor and LCD plants. These systems keep a great deal of such information on its current and near-future status as the arrival time and job completion time of their parts. This paper presents an efficient policy for AGV and part routing using information on the future status of the system where AGVs are playing a central role for material handling. Efficient control of AGVs is very important because AGV systems often become the bottleneck and limit the total production capacity of a very expensive plant. The cell controller records the future events chronologically in Next Event Schedule, and uses this list to determine to which place the AGVs and parts to be sent.

• Journal for History of Mathematics
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• v.16 no.1
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• pp.25-44
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• 2003

In this paper, we deal with the ‘dearithmetization’ of algebra. Historically, the origin of algebra comes from arithmetic. Also school algebra is related to arithmetic in general. However, we have many difficulties in teaching school algebra, and there is many problems for students to learn algebra from elementary arithmetic knowledges. This paper supposed that the solution of these problem may be founded in the ‘dearithmetization’ of algebra. And we supposed that the ‘dearithmetization’ of algebra may be developed by three historical achievements - the completion of symbolic algebra, the principle of permanence of form, and the expansion of number concepts. In order to justify these supposition, we investigate Peacock's ideas, i.e. ‘symbolic algebra’, ‘the principle of permanence of form’, and consider how the integer is introduced in modern mathematics. And we analyze various textbooks, and investigate the ‘dearithmetization’ of school algebra which has been progressed in the three fields - symbolic algebra, the principle of permanence of form, and the expansion of number concepts.

• Journal of Sasang Constitutional Medicine
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• v.22 no.2
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• pp.1-15
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• 2010

1. Objectives: This research aims to study the general overview of the theories on the covetous desire and the relevant theories on cultivation mentioned in "Donguisusebowon (東醫壽世保元): Theories on Nature and Conduct (性命論)". 2. Methods: The theories concerning the covetous desire introduced in Dong-Mu's manuscripts, including "Gyukchigo 格致藁)", "Yougocho (遺稿抄)", "Dongmuyougo (東武遺稿)" and "Jaejungsinpyun (濟衆新編)", were comprehensively reviewed. Furthermore, the significance of the theories on the covetous desire and the relevant theories on self-cultivation were studied within the context of "Donguisusebowon(東醫壽世保元): Theories on Nature and Conduct (性命論)". 3. Results and Conclusions: 1) Among the four covetous desires (selfishness (私心), indiscretion (放心), indolence(逸心), acquisitiveness (慾心)), selfishness and acquisitiveness are the interpersonal components that deal with the relationship between individuals, whereas indiscretion and indolence are the intra-personal or self-concerned components that deal with the internal desires within the individual. 2) In the early concepts on the quaternity explaining the perspective on the human being as introduced in Dongmu's earlier manuscripts, the four covetous desires are thought of as the most important etiological components, that are also intimately related to the theories of self-cultivation. 3) Among the concepts introduced in "Donguisusebowon (東醫壽世保元): Theories on Nature and Conduct (性命論)", viciousness (邪心) and negligence (怠心) are primary, intra-personal (self-concerned) desires that are henceforth matched to indiscretion and indolence, respectively, while selfishness (arrogance, assertiveness, indiscrimination and exaggeration (驕矜伐夸)) and acquisitiveness (violation, extravagance, slothfulness and stealthiness(奪侈懶竊)) are secondary, interpersonal desires. 4) 'Preserving the mind (存其心)' and 'rectifying the body (修其身)' are Methods of overcoming viciousness (indiscretion) and negligence (indolence), the intrapersonal desires, while 'nurturing the nature (養其性)' and 'propping the course (立其命)' are Methods of eliminating selfishness and acquisitiveness, the interpersonal desires, which ultimately each leads to the completion of Nature (性) and Conduct/Course (命).

• KIPS Transactions on Computer and Communication Systems
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• v.3 no.9
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• pp.293-300
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• 2014

TDMA(Time Division Multiple Access) is a channel access scheme for shared medium networks. The shared frequency is divided into multiple time slots, some of which are assigned to a user for communication. Techniques for TDMA can be categorized into two classes: synchronous and asynchronous. Synchronization is not suitable for small scale networks because it is complicated and requires additional equipments. In contrast, in DESYNC, a biologically-inspired algorithm, the synchronization can be easily achieved without a global clock or other infrastructure overhead. However, DESYNC spends a great deal of time to complete synchronization and does not guarantee the maximum time to synch completion. In this paper, we propose a lightweight synchronization scheme, C-DESYNC, which counts the number of participating nodes with GP (Global Packet) signal including the information about the starting time of a period. The proposed algorithm is mush simpler than the existing synchronization TDMA techniques in terms of cost-effective method and guarantees the maximum time to synch completion. Our simulation results show that C-DESYNC guarantees the completion of the synchronization process within only 3 periods regardless of the number of nodes.

• Journal of Environmental Impact Assessment
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• v.2 no.2
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• pp.41-47
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• 1993

During the last years it became more and more difficult to deal with environmental conflicts using traditional political instruments in industrialized countries. One reason for the occurring problems might be the citizens' awareness of scarceness of nature. Another reason might be the changing legislation with the introduction of the environmental impact assessment (EIA) as an integral part of a project's licensing procedure. The EIA offers new possibilities for citizens to interfere in decision processes and to obstruct projects. The changing situation requires new instruments for conflict solving. Mediation may be considered an alternative or completion to the traditional political instruments. It is a systematic strategy for conflict treatment and. with the support of an independent mediator, allows to reach an agreement among all parties involved. Mediation may be introduced in the EIA One possibility offers the scoping date, which, if the participation of the public is assured, might avoid heavy disputes in the further process. Another connection between the instrument of mediation and the EIA could be the use of the environmental impact study (EIS) as information background for a mediation process. EIA would then be source of information about all environmental aspects. Thus the role of EIA would be extended to being a part of conflict analysis in the alternative dispute resolution process.