• The Korean Journal of Financial Management
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• v.25 no.1
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• pp.51-84
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• 2008

We investigate the signaling effect of repurchase preceding new equity issue using Korean data. In a short time span, firms announce stock repurchases and equity offerings. The proximity of two events in Korean firms indicates that those are not independent of each other. In this paper, we test the signaling effect of repurchase on equity offerings on the two measures. One is announcement effect, which is measured as CAR(0, +2). The other is the effectiveness which is measured as CAR(0, +30) because the price movement during this window influences on the price of new issues. Previous studies that stock repurchase convey positive signal to equity offerings-Billet and Xue(2004) and Jung(2004)-construct sample without the limit of time interval between two events. This causes the unclear relation between those because of the long time interval. In this study we consider only samples of being within one year each other to reduce this problem and clarify the signal of repurchase on equity offerings. Korean firms are allowed to repurchase own shares with two different method. One is direct repurchase as same as open market repurchase. The other is stock stabilization fund and stock trust fund which trust company or bank buy and sell their shares on the behalf of firms. Generally, the striking different characteristic between direct repurchase and indirect repurchase is following. Direct repurchase is applied by more strict regulation than indirect repurchase. Therefore, the direct repurchase is more informative signal to the equity offering than the indirect repurchase. We construct two sample firms- firms with direct repurchase preceding-equity offerings and indirect repurchase-preceding equity offering, and one control firms-equity offerings only firms-to investigate the announcement effect and the effectiveness of repurchases. Our findings are as follows. Direct repurchase favorably affect the price of new issues favorably. CAR(0, +2) of firms with direct repurchase is not different from that of equity offerings only firms but CAR(0, +30) is higher than that of equity offerings only firms. For firms with indirect repurchase and equity offerings, Both the announcement effect and the effectiveness does not exist. Jung(2004) suggest the possibilities of how indirect stock repurchase can be regarded as one of unfair trading practices on based on the survey results that financial managers of some of KSE listed firms have been asked of their opinion on the likelihood of the stock repurchase being used in unfair trading. This is not objective empirical evidence but opinion of financial managers. To investigate whether firms announce false signal before equity offerings to boost the price of new issues, we calculate the long-run performance following equity offerings. If firms have announced repurchase to boost the price of new issues intentionally, they would undergo the severe underperformance. The empirical results do not show the severer underperformance of both sample firms than equity offerings only firms. The suggestion of false signaling of repurchase preceding equity offerings is not supported by our evidence.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.16 no.1
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• pp.195-204
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• 2015

This study analyzed the normalization cases of the mutual savings bank insolvency PF (MSBIPF) to suggest the appropriate improvements according to the purpose. The results were as follows. First, the original intention to normalize the MSBIPF was unsuccessful. This may be caused by the daunting situation of the real estate market along with the complex and shared interests. On the other hand, it can be responsible for the lack of evidence and related regulations as well as the lukewarm attitude on public projects. Active institutional settings are warranted to compensate the remaining insolvent businesses to PF even today and in the future. The data related to the recognized sites as the poorest 32 PF sites was compared primarily to normalize by KAMCO and the relevant sites. The area variable was the only significant variable according to the correlation analysis and logit analysis. The direct investment, diverse PF-backed bonds and the activation of the Ritz can be suggested as alternative ways of normalization with respect to the issue of the KAMCO.

• Journal of Conservation Science
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• v.36 no.2
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• pp.82-92
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• 2020

Modern artworks are constructed using a variety of materials and techniques. Sculptures, which predominantly consist of metals, usually have different shapes and consist of different material mixtures. The structural and material properties of these sculptures are often controlled by conservation treatment methods. However, the application of existing treatment methods is challenging at times, indicating that more diverse treatment materials and techniques are necessary. Therefore, in this study, a treatment method that employs volatile corrosion inhibitor(VCI) powder, rather than an anti-corrosion solution, for the conservation and management of metal artworks was used. VCI powder and VCI films containing VCI powder were used, and the results obtained confirmed that both of them showed anti-corrosion effect. Only a slight change in the chromaticity of metal samples was observed, and compared to the untreated samples, the application of the VCI powder resulted in a decrease in the rate of corrosion by half. Moreover, VCI film tests revealed that comparing to the untreated or polyethylene film-treated samples, VCI film treatment resulted in a decrease in the occurrence of corrosion compounds. The contact angle, surface energy, and surface electrical resistance were measured, and the evaluation of these surface properties established the anti-corrosion effect of VCI. Additionally, direct application of VCI and VCI films on actual sculptures further confirmed the anti-corrosion effect of VCI.

• Korean Journal of Clinical Laboratory Science
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• v.52 no.3
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• pp.229-236
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• 2020

Sixty-five molds isolated from clinical specimens were included in this study. All the isolates were molds that could be identified morphologically, strains that are difficult to identify because of morphological similarities, and strains that require species-level identification. PCR and direct sequencing were performed to target the internal transcribed spacer (ITS) region, the D1/D2 region, and the β-tubulin gene. Comparative sequence analysis using the GenBank database was performed using the basic local alignment search tool (BLAST) algorithm. The fungi identified morphologically to the genus level were 67%. Sequencing analysis was performed on 62 genera and species level of the 65 strains. Discrepancies were 14 (21.5%) of the 65 strains between the results of phenotypic and molecular identification. B. dermatitidis, T. marneffei, and G. argillacea were identified for the first time in Korea using the DNA sequencing method. Morphological identification is a very useful method in terms of the reporting time and costs in cases of frequently isolated and rapid growth, such as Aspergillus. When molecular methods are employed, the cost and clinical significance should be considered. On the other hand, the molecular identification of molds can provide fast and accurate results.

• Journal of the Korean Institute of Landscape Architecture
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• v.29 no.1
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• pp.131-139
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• 2001

This paper aims at surveying through case studies the planting possibility on the interval artificial ground between the bank and the core landfill of the first section of works in the SUDOKWON Landfill area landfill area which was completed, followed by the layer-on-layer landfill process involving the latch or sealing layer against emitting landfill gas from the reclaimed waste. The survey results are as follows; 1. The layers of the artificial planting ground on the landfill were established on the basis of top-on-top procedure for a waste layer, a topping soil layer (T=50cm), a gas blocking layer (broken stones T=30cm), a filter layer (non-woven fabric 700g), a sheet protecting soil layer (T=20cm), and a blocking layer (HDPE SHEET 2.0mm), an irrigation layer (SAND T=30cm), a filter layer (non-woven fabric 700g), a sheet protecting soil layer (T=20cm), and a blocking layer (HDPE SHEET 2.0mm), an irrigation layer (SAND T=30cm), a filter layer (non-woven fabric 700g), a planting layer (T=90cm+), a top mound (T=2m). 2. Since no direct damage on the planting layer affected by the landfill gas was detected, planting is found to be still possible and successful except the severely unequal subsidence portion. 3. The mortality rate is discovered different on different trees: Pinus thunbergii (H3.0$\times$W1.0m) 11.25%, Pinus thunbergii (H2.5$\times$W0.8m) 4.73%, Koelreuteira paniculata 8.67%, Hibiscus syriacus 5.68%, Deutzia parviflora 6.50%, Forsythia koreana 8.17%, Rho. yedoense v. poukhanese 32.22%, and Spiraea pru v. symplicifolia 18.89%; although the last two of which are generally considered to have a strong generic growing character, they are subject to be weakened when exposed to the contaminated microclimate of the site like landfill gas. 4. The damage rates, on Pinus thunbergii, Koelreuteria paniculata, Hibiscus syracus, Forsythia koreana, Deutzia parviflora, Rho. yedoense v. poukhanense were shown to decrease to 7.31-17.69% in the second check (June 2000) lower than 5.77-46.92% in the first examination (June 1999), whereas the damage on Spiraea pru v. symplicifolia relatively increased. It is believed that preparatory method of the air pollution, change of temperature, odor by emitting landfill gas, and minute dust from vehicles should be made, and a research on this matter will be conducted in the near future.

• Journal of Wetlands Research
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• v.25 no.4
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• pp.237-247
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• 2023

Paddy fields not only provide a variety of ecosystem services but also serve as crucial habitats for biodiversity conservation. Recently, their ecological value and significance have been increasingly emphasized. Therefore, this study aimed to investigate the characteristics of soil seed banks and analyze their correlation with soil environmental factors in Conventional Paddy field (CP) and Organic Paddy field (OP) with different farming practices. Our results revealed that the vegetation in CP was simple, resulting in low plant diversity in the soil seed banks. On the other hand, the vegetation in OP was relatively diverse, leading to higher plant diversity in the soil seed banks. Additionally, distinct differences in soil environmental characteristics were observed between OP (K, Ca, Mg, Na, Fe, Mn, B↓) and CP (K, Ca, Mg, Na, Fe, Mn, B↑). These results suggest that variations in agricultural practices for rice cultivation have influenced the structure and diversity of vegetation and soil seed banks. Furthermore, these agricultural practices have had both direct and indirect effects on soil environmental factors. Our findings can serve as fundamental data for evaluating biodiversity conservation in agricultural ecosystems, ecosystem restoration, and ecological value assessment.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.9 no.6
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• pp.129-144
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• 2014

This study is to examine the effect of mutualistic benevolence, altruistic benevolence, and communication on affective commitment, calculative commitment, and switching intentions and investigate how two commitment dimensions play mediating roles between two benevolence constructs and communication, and switching intentions. For these purposes the author developed a structural model which consists of several constructs. In this model, benevolence factor that consists of mutualistic benevolence and altruistic benevolence, and communication were proposed to affect two commitment constructs and result in, increase switching intentions. Thus, two commitment constructs(e.g., affective and calculative commitment) were proposed as core mediating variables between mutualistic benevolence, altruistic benevolence, and communication, and switching intentions. The data were collected from 210 automobile parts buyers and were analyzed using frequency, reliability, and confirmatory factor analysis and SEM (structural equation model) with SPSS/WIN 20.0 and AMOS 20.0. The data were analyzed with structural equation modeling with AMOS 20.0 and SPSS Win/PC 20.0. The result of the overall model analysis appeared as follows: ${\chi}2=224.885$, d.f=123(${\chi}2/df=1.828$), p=0.000, GFI=.898, AGFI=.859, IFI=.967, NFI=.930, TLI=.958, RMSEA=.063, CFI=.966. Since the result of the overall model analysis demonstrated a good fit, we could further analyze our data. The findings can be summarized as follows: According to structural equation modeling analysis, firstly, mutualistic benevolence has direct effects on calculate commitment and affective commitment. Secondly, altruistic benevolence has a positively direct effect on calculate commitment. Thirdly, communication has a statistically direct effect on affective commitment. Fourthly, calculative commitment has direct effects on affective commitment and switching intentions. Lastly, affective commitment has a direct effect on switching intentions.

• Journal of Korean Society of Forest Science
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• v.9 no.1
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• pp.61-74
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• 1969

Forest area in Korea ocupies as much as 68 percent of the total land area, but forest production figure in the statistics is rather trifling: that is about 2 percent of Gross National Production (G.N.P.), on the average. In view of the primary industrial sector, its production only weighs no more than 5 percent of this whole sector. Forest production written above refers only to direct forest income of the whole forest income. For the primary forest products they are in many cases used as raw materials for other interrelated industries. The added value there-from, which arises from round about production Process, in other word, indirect income is of most singnificance. Nevertheless, until nowadays forest production has been merely refered to timber production i, e, direct production but indirect income has never been looked upon. In this regard, calculated indirect forest income by means of input ratio method. The material used were Leontiefls tables of two 1963 and 1966 fiscal years, surveyed and analysed by The Bank of Korea. Indirect forest income calculated were 42,688,200,000 won in 1963 and 74,789,800,000 won in 1966 compared direct forest income of 14,361,000,000 won in 1963 and 17,709,000,000 won in 1966. So far as indirect forest income is considered total forest production indices composed of direct and indirect forest income amount to 8.23% in 1963 and 10.12% in 1966 of Gross National Production. Invisuable forest income which originates from, what we cal, indirect benefit of forestry such as land conservation, flood and drought control, soil run off control, scenic beauty and many others is naturall, not included in the calculation. As already mentioned, primary forest products are, for the most part, utilized as raw materials for other industries, therefore indirect forest income is rather appreciable than direct forest income, contributing for the growth and development of other connected industries. In these points of view, forestry must not be evaluated trifling in deciding industrial importances.

• Asian Pacific Journal of Cancer Prevention
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• v.15 no.11
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• pp.4405-4409
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• 2014

Reactive oxygen species (ROS), highly reactive molecules, are produced by living organisms as a result of normal cellular metabolism and environmental factors, and can damage nucleic acids and proteins, thereby altering their functions. The human body has several mechanisms to counteract oxidative stress by producing antioxidants. A shift in the balance between oxidants and antioxidants in favor of oxidants is termed as "oxidative stress". Paradoxically, there is a large body of research demonstrating the general effect of oxidative stress on signaling pathways, less is known about the initial and direct regulation of signaling molecules by ROS, or what we term the "oxidative interface." This review focuses on the molecular mechanisms through which ROS directly interact with critical signaling molecules to initiate signaling in a broad variety of cellular processes, such as proliferation and survival (MAP kinases and PI3 kinase), ROS homeostasis, and antioxidant gene regulation (Ref-1 and Nrf-2). This review also deals with classification as well as mechanisms of formation of free radicals, examining their beneficial and deleterious effects on cellular activities and focusing on the potential role of antioxidants in preventing and repairing damage caused by oxidative stress. A discussion of the role of phytochemical antioxidants in oxidative stress, disease and the epigenome is included.

• Journal of the Korean Institute of Rural Architecture
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• v.19 no.2
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• pp.25-33
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• 2017

This study aims to find out the change trend of the existing vacant houses in the small and medium sized farming city. And the using method of those houses is proposed in this paper. Especially to find out the change trend ratio of vacant houses in the case, the historic conservation area - Keumma village is selected as the research target area. To carry out this study, it was surveyed in 2013 when they were not designated as the special area first. And it is reviewed in 2017 when it is designated. The contents of the survey were their use, old age, structure, materials, color, roof of the main building and wall. they were surveyed by direct and interview survey. And thew were analyzed and synthesized. It is concluded that the 142 vacant houses in 2013 were declined 46houses in 2017. It is caused by the government support. And they will be declined continuously. The architectural statues of vacant houses between in 2013 and in 2017 are almost same in it's use, old age, structure, materials, color, roof of the main building and wall. In the use ratio of the vacant houses that of residence is most high, and that of warehouses, commerce are followed in turn. The reason of that statues is moving out is the first and the death of house holder, the difficulty of managing are followed. As the their re-use plan of owners, the selling is the first, constructing new buildings and the renovation them are followed. As the method of their use, re-use, community facilities, managing in the vacant houses bank are proposed. As the vacant houses are the reason of bad elements in the rural landscape in the farm village, the method of its improvement will be carried out.