• Journal of Life Science
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• v.34 no.1
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• pp.18-27
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• 2024

Laying hens are known to be able to 'bio-accumulate' the health-promoting ingredients of their diet into eggs. The purpose of this study was to characterize lignan-rich eggs as functional food fed with Schisandra fruit by-product (SCP). Experimental diets were formulated using yellow corn, rice bran, soybean meal, fish meal, meat bone meal, poultry meal, vitamin premix, mineral premix, CaCO₃, and supplemented Schisandra chinensis by-product. This experiment conducted a completely randomized design with 5 treatments for 5 laying hens. Levels of SCP were fed control diet or each formulated diet containing 1%, 3%, 5% and 7% SCP powder. The weight of eggs and the lignan content in white and yolk of egg were investigated every 7 days. Egg production and egg weight were not affected by diet at less than 5% SCP in the diet, but were significantly reduced when the diet was supplemented with a high concentration of 7% SCP after 3 weeks. Yolks and white in eggs were analyzed by using a high performance liquid chromatography (HPLC) to determine the lignans profile. Higher dietary SCP supplementation significantly increased gomisin N and schisandrin C in Acetonitrile (p<0.05). Gomisin N in egg white increased in a concentration-dependent manner, but shisandrin C not detected. These results indicated that the use of SCP powder in layering diets was effective in egg quality and for the production of lignans fortified eggs. In conclusion, dietary supplementation of Schisandra by-product with less than 5% can produce lignans-enrich eggs used as functional foods.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.6
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• pp.105-116
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• 2023

While there have been studies on the impact of government financial support on the performance of these enterprises, there is limited research on how entrepreneurs' perceptions of such policies affect business performance. Additionally, there is scarce domestic research on the role of entrepreneurial persistence in achieving and sustaining entrepreneurial goals and its impact on business performance. Therefore, the aim of this study is to analyze how entrepreneurs' perceptions of government policy support affect business performance and to explore the mediating effect of entrepreneurial persistence, shedding light on the significance of perceptions and deepening the understanding of entrepreneurial persistence. This study utilizes entrepreneurs' perceptions of government support for South Korean small and venture enterprises, and entrepreneurship as independent variables, with entrepreneurial persistence as a mediating variable and non-financial performance of businesses as the dependent variable. Data was collected through surveys targeting founders, CEOs, and executives of small and venture enterprises. After excluding incomplete responses, a total of 205 survey responses were used for hypothesis testing. The results of this study are as follows. First, it was verified that the perception of SME policy support and entrepreneurship have a significant positive impact on business performance. Second, it was verified that entrepreneurial persistence partially mediates the relationship between the perception of SME policy support and entrepreneurship and business performance. The theoretical implications of this study are twofold. First, it highlights the significant positive impact of entrepreneurs' perceptions of policy support on the non-financial performance of small and venture enterprises. This contributes to the theoretical understanding by demonstrating that entrepreneurs' perceptions play a role in affecting business performance, in contrast to previous research that focused on the impact of policy financial support on business performance. Second, this study extends the theoretical understanding of entrepreneurial persistence, a relatively understudied concept in domestic research, by demonstrating its mediating role in the relationship between entrepreneurs' perceptions of government support and, entrepreneurship, and business performance. Practically, the study suggests that to enhance the performance of small and venture enterprises, the government should not only expand policy support but also seek ways to increase entrepreneurs' perceptions of such support.

• Journal of the Korean Applied Science and Technology
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• v.41 no.1
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• pp.9-18
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• 2024

Smilax china is known for its excellent antimicrobial, antioxidant, and anti-inflammatory properties. As a foundational study for applying the functionality of Smilax china extracts to cosmetics, it is necessory to investigate the concentration-dependent skin permation characteristics of the flavonoids in the extract, namely quercetin, catechin, and naringenin. Therefore, it serves as a crucial method for conducting this basic research on the functional aspects fo Smilax china extracts for cosmetic applications. This investigation focused on examining the percutaneous permeability characteristics of flavonoids originating from Smilax china. Applying Marzulli's definition, the Kp value of quercetin was categorized as "fast" at 0.1 mg/mL and "moderate" at 0.2 and 0.4 mg/mL. Notably, the permeation rate exhibited a decline with increasing concentration. For naringenin, Flux values were 0.69, 1.07, and 1.42 ㎍/hr/cm² at concentrations of 0.1, 0.2, and 0.4 mg/mL, respectively, with corresponding Kp values of 6.95, 5.34, and 3.56. Naringenin's Kp value fell into the "moderate" category across all concentrations, and as observed with quercetin, the permeation rate decreased with higher concentrations. Likewise, for catechin, Flux values were 0.75, 1.09, and 1.66 ㎍/hr/cm², and corresponding Kp values were 7.55, 5.46, and 4.16. Catechin's Kp value was consistently classified as "moderate" across all concentrations. The efficacy of quercetin, catechin, and naringenin, active ingredients in high-performance and anti-inflammatory Smilax china extracts, was found to exhibit skin penetration properties above the average. This confirms their suitability as excellent natural materials for use in functional cosmetics, given their outstanding capabilities in preventing acne and reducing inflammation.

• Microbiology and Biotechnology Letters
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• v.51 no.3
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• pp.280-288
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• 2023

In strawberry farming, most parts of strawberry stems but the fruit have been dumped. Therefore, this study attempted to investigate the antioxidant and anti-inflammatory effects of strawberry stems which are thrown away after farming. For this, strawberry stem extracts were obtained, using hot water and 70% ethanol. First, total polyphenol contents of the hot water and ethanol extract were checked (265.4 ± 0.12 mg TAE/100 g, 503.88 ± 0.2 mg TAE/100 g). For analysis of antioxidant activities, electron donating ability (EDA) and 2,2'-azinobis (3-ethylbenzothiazoline-6-sulfonic acid) (ABTS) radical scavenging activity were measured. Both extracts increased in a dose-dependent fashion, and similar effects with vitamin C (control group) were confirmed. In terms of cell viability of the hot water and ethanol extracts of strawberry stems, 'RAW 264.7' was 99% or higher at 500 ㎍/ml. In addition, cell experiments were conducted at 50, 100 and 500 ㎍/ml where cell viability is above 99%. In terms of inhibition of the inflammatory mediator 'nitric oxide (NO)', the hot water and ethanol extracts of strawberry stems were 37.9% and 38.8% respectively, confirming the inhibition of NO production. To check anti-inflammatory activities, protein and mRNA expressions of 'iNOS' and 'COX-2' were measured, using RAW 264.7. Compared to the LPS group, the protein expression of the inflammatory mediators was inhibited in the hot water and ethanol extract-treated groups. The above results confirmed that the hot water and ethanol extracts of strawberry stems are valuable as natural substances with antioxidant and anti-inflammatory activities.

• Journal of Life Science
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• v.34 no.3
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• pp.160-169
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• 2024

In this study, Abies nephrolepis MAX. was divided into A. nephrolepis MAX. stem (AS) extract and A. nephrolepis MAX. leaf (AL) extract. Their anti-inflammatory abilities and applicability as cosmetic materials were determined. Tests of the cell survival rate measured using RAW 264.7 cells and extracts of AS and AL showed 97.8% and 95.6% cell viability at a 500 ㎍/ml concentration. To determine anti-inflammatory activity, we examined the inhibitory effects on the production of LPS-induced NO in RAW 264.7 cells by Griess assay. The results showed that the AS and AL extracts presented a concentration-dependent inhibition of NO production. The protein expression inhibitory effects of AS and AL extracts were measured by western blot at 25, 50, and 100 ㎍/ml concentrations. β-actin was used as a positive control. The results of western blot of extracts from AS showed that the expression inhibition rate of the iNOS protein was decreased by 50.1% at the 100 ㎍/ml concentration. Additionally, the results of western blot of AL extracts showed that the expression inhibition rate of COX-2 and iNOS protein was decreased by 66% and 8.2% at the 100 ㎍/ml concentration. The mRNA inhibitory effect was measured by RT-PCR at 25, 50, and 100 ㎍/ml concentrations. GAPDH was used as a positive control. Consequently, the iNOS mRNA expression effect by RT-PCR of AS extract demonstrated by RT-PCR decreased by 27.9% at the 100 ㎍/ml concentration, and the iNOS and IL-6 mRNA expression effect of AL extract measured by RT-PCR decreased by 48.6% and 48.7% at the 100 ㎍/ml concentration.

• Korean Journal of Construction Engineering and Management
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• v.25 no.2
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• pp.23-35
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• 2024

This study analyzed the correlation between each of the 12 influencing factors in FAR 16.04 and the decision-making process for construction contract types, using data from a total of 2,406 DoD Construction Acquisitions spanning from 2008 to 2022. The study considered 12 independent variables, grouped into 4 Characteristics with 3 factors each. Meanwhile, all other contract types were categorized into two types: Firm-Fixed-Price (FFP) and Cost-Reimbursement Contract (CRC), which served as the dependent variables. The findings revealed that FFP contracts significantly dominated in terms of acquisition volume. In line with prevailing beliefs, logistic data analysis and Analytical Hierarchy Process (AHP) analysis of Relative Weights from Experts' Survey demonstrated that independent variables like Uncertainty of the Scope of Work and Complexity found out to be increasing the likelihood of selecting CRC. The number of contractors in the market does indeed influence the possibilities of contract decision-making between CRC and FFP. Meanwhile, the p-values of the top 3 influencing factors on CRC from the AHP analysis-namely, Appropriateness of CAS, Project Urgency, and Cost Analysis-exceeded 0.05 in the binominal regression results, rendering it inconclusive whether they significantly influenced the construction contract type decision, particularly with respect to payment methods. This outcome partly results from the fact that a majority of respondents possessed specific experiences related to the USFK relocation project. Furthermore, influencing factors in construction projects behave differently than common beliefs suggest. As a result, it is imperative to consider the 12 influencing factors categorized into 4 Characteristics areas before establishing acquisition strategies for targeted construction projects.

• Journal of Korea Water Resources Association
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• v.57 no.3
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• pp.151-164
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• 2024

In water treatment plants supplying potable water, the management of chlorine concentration in water treatment processes involving pre-chlorination or intermediate chlorination requires process control. To address this, research has been conducted on water quality prediction techniques utilizing AI technology. This study developed an AI-based predictive model for automating the process control of chlorine disinfection, targeting the prediction of residual chlorine concentration downstream of sedimentation basins in water treatment processes. The AI-based model, which learns from past water quality observation data to predict future water quality, offers a simpler and more efficient approach compared to complex physicochemical and biological water quality models. The model was tested by predicting the residual chlorine concentration downstream of the sedimentation basins at Plant, using multiple regression models and AI-based models like Random Forest and LSTM, and the results were compared. For optimal prediction of residual chlorine concentration, the input-output structure of the AI model included the residual chlorine concentration upstream of the sedimentation basin, turbidity, pH, water temperature, electrical conductivity, inflow of raw water, alkalinity, NH₃, etc. as independent variables, and the desired residual chlorine concentration of the effluent from the sedimentation basin as the dependent variable. The independent variables were selected from observable data at the water treatment plant, which are influential on the residual chlorine concentration downstream of the sedimentation basin. The analysis showed that, for Plant, the model based on Random Forest had the lowest error compared to multiple regression models, neural network models, model trees, and other Random Forest models. The optimal predicted residual chlorine concentration downstream of the sedimentation basin presented in this study is expected to enable real-time control of chlorine dosing in previous treatment stages, thereby enhancing water treatment efficiency and reducing chemical costs.

• Journal of Food Hygiene and Safety
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• v.39 no.3
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• pp.288-298
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• 2024

This study aimed to investigate the amino acid content, fatty acid composition, total flavonoid and phenol contents, and antioxidant activities of Prunus yedoensis Matsum. bark extracts using various extraction solvents. Through amino acid analysis, 13 amino acids were detected in extracts obtained using hot water, 30% ethanol, and 70% ethanol. The major amino acids were identified as aspartic acid, arginine, and proline, and the total amino acid content was 0.17%, 0.16%, and 0.09%, respectively. Fatty acid analysis showed a saturated fatty acid (SFA) ratio of 62.7-66.7% in extracts obtained using hot water, 30% ethanol, and 70% ethanol, with the primary fatty acid identified as palmitic acid. The total flavonoid and polyphenol contents were 727.70-769.87 mg quercetin equivalent (QE)/ g and 309.24-348.09 mg gallic acid equivalent (GAE)/g, respectively, in extracts obtained using hot water, 30% ethanol, and 70% ethanol extracts. Measurements of antioxidant activity confirmed that extracts obtained using hot water, 30% ethanol, and 70% ethanol extracts increased the antioxidant effect in 2,2-diphenyl-1-picrylhydrazyl (DPPH) radical scavenging activity, 2,2'-azino-bis(3-ethylbenzothiazoline-6-sulfonic acid) (ABTS) radical scavenging activity, and ferric reducing antioxidant power (FRAP) in a concentration-dependent manner. A high correlation was observed between the total flavonoid content, total polyphenol content, and antioxidant activities of the extracts. This study provides data and novel insights for the development of functional food materials using P. yedoensis Matsum. bark extracts.

• Journal of the Korean Society of Radiology
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• v.18 no.4
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• pp.335-344
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• 2024

In this study, we aim to investigate the correlation between the lateral images of Korean skulls and the angle between the OML and the Body of the Mandible. Additionally, we seek to provide criteria for the ease of positioning in clinical settings and establish standardized imaging procedures for the PNS Water's view examination. This study was conducted on a total of 202 patients who visited the radiology department of a general hospital and examined the skull lateral radiography. In addition to the patient images, skull phantoms were also utilized, and images were obtained using GC85A and EOS equipment. In this research, abbreviations related to the angle of the Body of Mandible were defined using PACS on lateral images. Measurements were taken for various angles, including ramus of mandible angle(RIA), accurate OML angle(TIA), OML and IR Angle(OIA), total mandibular length(TML), ramus height(RH), the angle between the pogonion, gonion, and condylion(MA). The validity of these measurements was confirmed using the skull phantom in the study. The age-specific average range for RIA was 22.67° to 26.04°, with measurements of 23.14° for males and 24.78° for females. The age-related mean ranges for TIA and OIA were 35.98° to 38.31° and 72.27° to 75.25°, respectively. For males, TIA was 36.74° and OIA was 72.73°, while for females, TIA was 36.43° and OIA was 73.38°. The age-dependent measurements for TML and RH ranged from 85.73 mm to 89.60 mm and 62.60 mm to 70.87 mm, respectively. Male values were 90.54 mm and 70.78 mm, while female values were 85.13 mm and 61.54 mm for TML and RH, respectively. The age-specific average range for MA was 55.95° to 58.63°, with measurements of 57.96° for males and 57.76° for females. Correlation analysis revealed a positive correlation between RIA and OIA, as well as between RIA and TIA. Based on the results of this study, which indicate a positive correlation between the angle of the Body of Mandible and the OML, it can be inferred that adjusting the mandible vertically to align with the imaging receptor may contribute to more accurate image acquisition during PNS Water's view examination. Therefore, it is believed that there is value in utilizing this relationship as a criterion for establishing new positioning standards, which could enhance the utility of a new positioning guide.

• Korean small business review
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• v.31 no.4
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• pp.67-93
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• 2009

The purpose of this paper is to explore the relations between financial constraints and dividend smoothing of innovative small and medium sized enterprises(SMEs) listed on Korea Securities Market and Kosdaq Market of Korea Exchange. The innovative SMEs is defined as the firms with high level of R&D intensity which is measured by (R&D investment/total sales) ratio, according to Chauvin and Hirschey (1993). The R&D investment plays an important role as the innovative driver that can increase the future growth opportunity and profitability of the firms. Therefore, the R&D investment have large, positive, and consistent influences on the market value of the firm. In this point of view, we expect that the innovative SMEs can adjust dividend payment faster than the noninnovative SMEs, on the ground of their future growth opportunity and profitability. And also, we expect that the financial unconstrained firms can adjust dividend payment faster than the financial constrained firms, on the ground of their financing ability of investment funds through the market accessibility. Aivazian et al.(2006) exert that the financial unconstrained firms with the high accessibility to capital market can adjust dividend payment faster than the financial constrained firms. We collect the sample firms among the total SMEs listed on Korea Securities Market and Kosdaq Market of Korea Exchange during the periods from January 1999 to December 2007 from the KIS Value Library database. The total number of firm-year observations of the total sample firms throughout the entire period is 5,544, the number of firm-year observations of the dividend firms is 2,919, and the number of firm-year observations of the non-dividend firms is 2,625. About 53%(or 2,919) of these total 5,544 observations involve firms that make a dividend payment. The dividend firms are divided into two groups according to the R&D intensity, such as the innovative SMEs with larger than median of R&D intensity and the noninnovative SMEs with smaller than median of R&D intensity. The number of firm-year observations of the innovative SMEs is 1,506, and the number of firm-year observations of the noninnovative SMEs is 1,413. Furthermore, the innovative SMEs are divided into two groups according to level of financial constraints, such as the financial unconstrained firms and the financial constrained firms. The number of firm-year observations of the former is 894, and the number of firm-year observations of the latter is 612. Although all available firm-year observations of the dividend firms are collected, deletions are made in the case of financial industries such as banks, securities company, insurance company, and other financial services company, because their capital structure and business style are widely different from the general manufacturing firms. The stock repurchase was involved in dividend payment because Grullon and Michaely (2002) examined the substitution hypothesis between dividends and stock repurchases. However, our data structure is an unbalanced panel data since there is no requirement that the firm-year observations data are all available for each firms during the entire periods from January 1999 to December 2007 from the KIS Value Library database. We firstly estimate the classic Lintner(1956) dividend adjustment model, where the decision to smooth dividend or to adopt a residual dividend policy depends on financial constraints measured by market accessibility. Lintner model indicates that firms maintain stable and long run target payout ratio, and that firms adjust partially the gap between current payout rato and target payout ratio each year. In the Lintner model, dependent variable is the current dividend per share(DPS_t), and independent variables are the past dividend per share(DPS_t-1) and the current earnings per share(EPS_t). We hypothesized that firms adjust partially the gap between the current dividend per share(DPS_t) and the target payout ratio(Ω) each year, when the past dividend per share(DPS_t-1) deviate from the target payout ratio(Ω). We secondly estimate the expansion model that extend the Lintner model by including the determinants suggested by the major theories of dividend, namely, residual dividend theory, dividend signaling theory, agency theory, catering theory, and transactions cost theory. In the expansion model, dependent variable is the current dividend per share(DPS_t), explanatory variables are the past dividend per share(DPS_t-1) and the current earnings per share(EPS_t), and control variables are the current capital expenditure ratio(CEA_t), the current leverage ratio(LEV_t), the current operating return on assets(ROA_t), the current business risk(RISK_t), the current trading volume turnover ratio(TURN_t), and the current dividend premium(DPREM_t). In these control variables, CEA_t, LEV_t, and ROA_t are the determinants suggested by the residual dividend theory and the agency theory, ROA_t and RISK_t are the determinants suggested by the dividend signaling theory, TURN_t is the determinant suggested by the transactions cost theory, and DPREM_t is the determinant suggested by the catering theory. Furthermore, we thirdly estimate the Lintner model and the expansion model by using the panel data of the financial unconstrained firms and the financial constrained firms, that are divided into two groups according to level of financial constraints. We expect that the financial unconstrained firms can adjust dividend payment faster than the financial constrained firms, because the former can finance more easily the investment funds through the market accessibility than the latter. We analyzed descriptive statistics such as mean, standard deviation, and median to delete the outliers from the panel data, conducted one way analysis of variance to check up the industry-specfic effects, and conducted difference test of firms characteristic variables between innovative SMEs and noninnovative SMEs as well as difference test of firms characteristic variables between financial unconstrained firms and financial constrained firms. We also conducted the correlation analysis and the variance inflation factors analysis to detect any multicollinearity among the independent variables. Both of the correlation coefficients and the variance inflation factors are roughly low to the extent that may be ignored the multicollinearity among the independent variables. Furthermore, we estimate both of the Lintner model and the expansion model using the panel regression analysis. We firstly test the time-specific effects and the firm-specific effects may be involved in our panel data through the Lagrange multiplier test that was proposed by Breusch and Pagan(1980), and secondly conduct Hausman test to prove that fixed effect model is fitter with our panel data than the random effect model. The main results of this study can be summarized as follows. The determinants suggested by the major theories of dividend, namely, residual dividend theory, dividend signaling theory, agency theory, catering theory, and transactions cost theory explain significantly the dividend policy of the innovative SMEs. Lintner model indicates that firms maintain stable and long run target payout ratio, and that firms adjust partially the gap between the current payout ratio and the target payout ratio each year. In the core variables of Lintner model, the past dividend per share has more effects to dividend smoothing than the current earnings per share. These results suggest that the innovative SMEs maintain stable and long run dividend policy which sustains the past dividend per share level without corporate special reasons. The main results show that dividend adjustment speed of the innovative SMEs is faster than that of the noninnovative SMEs. This means that the innovative SMEs with high level of R&D intensity can adjust dividend payment faster than the noninnovative SMEs, on the ground of their future growth opportunity and profitability. The other main results show that dividend adjustment speed of the financial unconstrained SMEs is faster than that of the financial constrained SMEs. This means that the financial unconstrained firms with high accessibility to capital market can adjust dividend payment faster than the financial constrained firms, on the ground of their financing ability of investment funds through the market accessibility. Futhermore, the other additional results show that dividend adjustment speed of the innovative SMEs classified by the Small and Medium Business Administration is faster than that of the unclassified SMEs. They are linked with various financial policies and services such as credit guaranteed service, policy fund for SMEs, venture investment fund, insurance program, and so on. In conclusion, the past dividend per share and the current earnings per share suggested by the Lintner model explain mainly dividend adjustment speed of the innovative SMEs, and also the financial constraints explain partially. Therefore, if managers can properly understand of the relations between financial constraints and dividend smoothing of innovative SMEs, they can maintain stable and long run dividend policy of the innovative SMEs through dividend smoothing. These are encouraging results for Korea government, that is, the Small and Medium Business Administration as it has implemented many policies to commit to the innovative SMEs. This paper may have a few limitations because it may be only early study about the relations between financial constraints and dividend smoothing of the innovative SMEs. Specifically, this paper may not adequately capture all of the subtle features of the innovative SMEs and the financial unconstrained SMEs. Therefore, we think that it is necessary to expand sample firms and control variables, and use more elaborate analysis methods in the future studies.