• The Korean Journal of Financial Management
• /
• v.27 no.1
• /
• pp.181-208
• /
• 2010

In July 2007, Korean government has passed "The Capital Market and Financial Investment Services Act" to further develop the capital markets and the Act was to become effective in February 2009. Using a large sample of Korean firms, we have examined (i) the effect of underwriting activities on the firm value (bond spread) comparing commercial bank and investment bank, and (ii) the determinants of the firm value changes following underwriting activities of bank. To test our goal, we collected a wide range of samples of data for bond issuing activities executed by Korean firms listed on the Korea Stock Exchange (KSE) between 2000 and 2003. Our paper is distinguished from previous studies on this subject in a way that we analyzed the effect of corporate bond underwriting activities with regard to commercial banking and investment banking. Initially, we set up a hypothesis that "Certification View" and "Conflict-of-interest View" are major driving forces behind cross-firm differences in performance following bond issuance. We find that, in general, underwriting by investment bank (securities company) brings a positive effect on the firm value (spread between bench mark rate and bond issuing rate). This result indicates that firm value has been negatively affected by the bank underwriting and provides the evidence for "Conflict-of-interest View" in Korea. Our studies have also revealed that any change in firm value following bond issuance is positively related with the firm size (total asset), operating performance, liquidity (cashflow), and equity ownership by foreign investors. Overall, our results support the view that bank underwriting activities can play an important role in determining firm value and financial strategies under "The Capital Market and Financial Investment Services Act" of 2007.

• Journal of the Korean Society of Food Science and Nutrition
• /
• v.35 no.1
• /
• pp.48-54
• /
• 2006

This study was conducted to investigate the effect of calcium and boron intakes on calcium utilization in ovariectomized (OVX) rats. Rats were divided into 9 groups and fed diets containing various levels of calcium $(0.1\%,\;0.5\%,\;1.5\%)$ and boron (0.5 ppm, 50 ppm, 100 ppm) for 4 weeks. The half of rats in each group were ovariectomized and the others were sham-operated. Rats were fed same diets for 8 weeks after operation. Feed intake and weight gain were significantly increased as the dietary calcium was increased and those of OVX group were higher than in sham-operated group. Feed efficiency ratio was significantly higher in OVX group than that in sham-operated one. With boron supplementation, serum calcium level was significantly increased in low-calcium group, but decreased in adequate/high-calcium group. In calcium balance, calcium intake was significantly increased with increasing levels of calcium and boron and higher in OVX group than that in sham-operated one. With increasing calcium intake, fecal and urinary calcium excretions were significantly increased. Urinary calcium excretion was significantly decreased with increment of boron intake. Apparent calcium absorption of adequate-calcium OVX group was the highest among the groups. Daily calcium retention was significantly increased as the dietary calcium was increased and that of high-calcium OVX group was higher than high-calcium sham-operated group. According to these results, the boron supplementation increased the calcium intake and decreased the urinary calcium excretion. Therefore, it could be suggested that the boron supplementation may be complementary to calcium nutrition and useful for bone health.

• Korean Chemical Engineering Research
• /
• v.44 no.6
• /
• pp.650-658
• /
• 2006

The recycling of TDA from solid waste of TDI plant(TDI-R) by near-critical hydrolysis reaction had been studied by means of a statistical design of experiment. The main and interaction effects of process variables had been defined from the experiments in a batch reactor and the correlation equation with process variables for TDA yield had been obtained from the experiments in a continuous pilot plant. It was confirmed that the effects of reaction temperature, catalyst type and concentration, and the weight ratio of water to TDI-R(WR) on TDA yield were significant. TDA yield decreased with increases in reaction temperature and catalyst concentration, and increased with an increase in WR. As a catalyst, NaOH was more effective than $Na_2CO_3$ for TDA yield. The interaction effects between catalyst concentration and temperature, WR and temperature, catalyst type and reaction time on TDA yield had been defined as significant. Although the effect of catalyst concentration on TDA yield at $300^{\circ}C$ as subcritical water was insignificant, the TDA yield decreased with increasing catalyst concentration at $400^{\circ}C$ as supercritical water. On the other hand, the yield increased with an increase in WR at $300^{\circ}C$ but showed negligible effect with WR at $400^{\circ}C$. The optimization of process variables for TDA yield has been explored with a pilot plant for scale-up. The catalyst concentration and WR were selected as process variables with respect to economic feasibility and efficiency. The effects of process variables on TDA yield had been explored by means of central composite design. The TDA yield increased with an increase in catalyst concentration. It showed maximum value at below 2.5 of WR and then decreased with an increase in WR. However, the ratio at which the TDA yield showed a maximum value increased with increasing catalyst concentration. The correlation equation of a quadratic model with catalyst concentration and WR had been obtained by the regression analysis of experimental results in a pilot plant.

• Korean Chemical Engineering Research
• /
• v.48 no.2
• /
• pp.275-282
• /
• 2010

A characteristic study of aqueous chlorine dioxide generation from sodium chlorite($NaClO_2$) by an undivided electrochemical cell with different anode materials were performed. $IrO_2$-coated Ti, $RuO_2$-coated Ti and DSA were used as anode materials and Pt-coated Ti electrode was used as cathode. Various electrochemical cell operating parameters such as cell residence time($t_R$), initial feed solution pH, sodium chlorite and sodium chloride(NaCl) concentration and applied current for the generation of chlorine dioxide in an un-divided cell were investigated and optimized. Estimated optimal cell residence times in $IrO_2$-coated Ti, $RuO_2$-coated Ti and DSA anode material systems were around 2.27, 1.52 and 1.52 sec, respectively. Observed optimum initial feed solution pH was around 2.3 in all anode material systems. Optimum sodium chlorite concentrations in $IrO_2$-coated Ti, $RuO_2$-coated Ti and DSA anode systems were around 0.43, 0.43 and 0.32 g/L, respectively. Optimum electrolyte concentration and applied current were around 5.85 g/L and 0.6 A in all anode systems. Current efficiencies of $IrO_2$-coated Ti, $RuO_2$-coated Ti and DSA anode systems under optimum conditions were 79.80, 114.70 and 70.99%, respectively. Obtained energy consumptions for the optimum generation of chlorine dioxide were 1.38, 1.03 and $1.61W{\cdot}hr/g-ClO_2$, respectively.

• Korean Chemical Engineering Research
• /
• v.56 no.1
• /
• pp.85-95
• /
• 2018

In this research, a biofilter system equipped with a biofilter process and a humidifier composed of a fluidized aerobic and an anoxic reactor, was constructed to treat odorous waste air containing hydrogen sulfide, ammonia and VOC, frequently generated from pig and poultry housing facilities, compost manufacturing factories and publicly owned facilities. Its optimum operating condition was revealed and discussed. In the experiment of complex feed, the ammonia of fed-waste air was removed by ca. 75% and more than 20% at the stage of the humidifier and the biofilter, respectively. The toluene of the fed-waste air was removed by ca. 20% and more than 70% at the stage of the humidifier and the biofilter, respectively. Therefore the water-soluble ammonia and the water-insoluble toluene were treated mainly at the stage of the humidifier and the biofilter, respectively. In addition, hydrogen sulfide was almost absorbed at the stage of the humidifier so that it was not detected at the biofilter process. In the experiment of ammonia-containing feed, the ammonia of fed-waste air was removed by ca. 65% and 35% at the stage of the humidifier and the biofilter, respectively. Its removal efficiency of ammonia at the stage of the humidifier was 10% less than that in the experiment of complex feed, due to no supply of such carbon source as toluene required in the process of denitrification. In the experiments of complex feed, ammonia-containing feed with and without (instead, glucose) the addition of yeast extract, the absorption rates of ammonia-nitrogen were ca. 0.28 mg/min, 0.23 mg/min and 0.27 mg/min, respectively. The corresponding denitrification rates in the anoxic reactor were 0.42 mg/min, 0.55 mg/min and 0.27 mg/min, respectively. In addition, in the modeling of bubble column(the fluidized aerobic reactor of the humidifier) process, the value of specific surface area(a) of bubbles multiplied by enhanced mass transfer coefficient (E $K_y$) was evaluated to be 0.12/hr.

• Journal of Environmental Policy
• /
• v.6 no.2
• /
• pp.97-122
• /
• 2007

In 2006, the Ministry of Environment of the Republic of Korea, completed the construction on national environmental geographic informations including National Environmental Assessment Map, Ecological Map, Land Cover Map and so on. At this point of time, it is necessary to establish the advance strategy on national environmental geographic information, considering the complicated characteristics. Therefore, this study suggests the advance strategy on national environmental geographic information, reflecting results of analyzing the given condition and the trend of informatization. National environmental geographic information has spacial quality to be managed dispersedly in a department unit or an operations unit. According to this quality, requirements for users who need the policy based on national environmental geographic information and complex information are not satisfactory. And, the information system centering the process of administrative affairs should be converted to one putting decision supporting first in importance. Therefore, this study sets up "the realization of the sustainable land management system by advancing national environmental geographic information" as the vision of the advancing strategy. In order to accomplish the vision, this study established the purpose as follow; constructing strategic and geographic information based on knowledge, arranging the foundation to open information to the public transparently, building expanded and integrated national environmental geographic information, embodying the environmental administration based on national environmental geographic information, enhancing the efficiency of national environmental geographic information, and supporting efficiently the process of administrative affairs. And this study suggests executive plans to achieve the vision and the purpose as next; developing the quality control program to verify the information confidence, building the system to integrate and to provide environmental information, collecting information, readjusting laws and regimes in parts of the construction, the application and the management of the system, and operating the task process, human power, organization and information technology. This study puts the emphasis on providing the turning opportunity politically which is possible to make sure of the information confidence in quality, advancing from the expansion of one in quantity. However, this improvement strategy doesn't reflect all national environmental geographic information and current status of environmental administrations. Therefore, for applying the result of this study to the actual environmental administration, it is necessary to discuss regularly the systematic categorization of national environmental geographic information, to interview with the contracting parties and so on hereafter.

• Journal of Korean Society of Forest Science
• /
• v.103 no.1
• /
• pp.87-97
• /
• 2014

This study was conducted to provide field-based harvesting study information which can be used to select an optimal cable system for certain work conditions on steep grounds (> $20^{\circ}$ ground slope) in Korea. To accomplish this study objectives, we evaluated three cable yarding systems (RME-300T tower-yarder, Chuncheon tower-yarder, FARMI tractor winch) working in typical work conditions for their yarding productivity and operational efficiency. Those yarders are commonly used for removing logs or trees on steep grounds in Korea. Under the same work conditions (average DBH of tree to be cut, 20 cm; yarding distance, 60 m; lateral yarding distance, 10 m; and machine utilization rate, 70%), the average productivities were $33.04m^3$/day, $38.47m^3$/day, and $14.17m^3$/day for RME-300T, Chuncheon tower-yarder, and FARMI, respectively. Our standardized cost comparison study also showed that the yarding cost was highest at $37,835won/m^3$ with FARMI, followed by RME-300T at $25,105won/m^3$ for the same work conditions. We found the lowest yarding cost with the Chuncheon tower-yarder at $20,520won/m^3$ which was resulted primarily from high yarding productivity at the yarding distance (60 m). Our analysis suggested that a small machine such as FARMI could be a low-cost yarding machine option for a cable yarding job with a short yarding distance (40 m or less). The Chuncheon tower-yarder is well suited for a mid-range yarding distance job in Korea, ranged between 40 to 140 m. If yarding distance were longer than 140 m, the RME-300T tower yarder appears to be most cost-effective.

• Korean Journal of Food Science and Technology
• /
• v.41 no.4
• /
• pp.458-463
• /
• 2009

To establish and validate a liquid chromatography-tandem mass spectrometry (LC-MS/MS) method for the rapid and accurate quantitation of diarrhetic shellfish poisoning (DSP) toxins, we compared the results from different mobile phases and columns used for their analysis and collision energies for MS/MS experiments. Clear peaks of okadaic acid (OA) and dinophysistoxin-1 (DTX1) were obtained by using a mobile phase comprising aqueous acetonitrile containing 2 mM ammonium formate and 50 mM formic acid. The collision energies were optimized to facilitate the most sensitive detection for each toxin, namely, OA, DTX1, pectenotoxin-2 (PTX2), or yessotoxin (YTX). Further, the maximum ion response was obtained at a collision energy of 48 V for OA and DTX1. We compared the analytical performance of $C_8$ and $C_{18}$ columns. A wide range of toxins namely, OA, DTX1, PTX2, and YTX, except DTX3, were detected by both the columns. Although DTX3 was only detected by the $C_8$ column, we found that the $C_{18}$ column was also suitable for the quantitation of OA and DTX1 the toxins responsible for inducing diarrhea. The limit of detection of OA and DTX1 by the established LC-MS/MS conditions was 1 ng/g, and the limit of quantitation of the toxins under the same conditions was 3 ng/g. The process efficiencies were 91-118% for oysters (Crassostrea gigas) and 96-117% for mussels (Mytilus galloprovincialis) further, we observed no significant effect of matrix during the ionization process in LC-MS/MS. The comparison between mouse bioassay (MBA) and LC-MS/MS yielded varying results because low concentrations of OA and DTX1 were detected by LC-MS/MS in some shellfish samples, which provided positive results on MBA for DSP. The analysis time required by MBA for DSP analysis can be reduced by LC-MS/MS.

• Journal of Intelligence and Information Systems
• /
• v.16 no.2
• /
• pp.73-94
• /
• 2010

The attending system is a medical system that allows doctors in clinics to use the extra equipment in hospitals-beds, laboratory, operating room, etc-for their patient's care under a contract between the doctors and hospitals. Therefore, the system is very beneficial in terms of the efficiency of the usage of medical resources. However, it is necessary to develop a strong support system to strengthen its weaknesses and supplement its merits. If doctors use hospital beds under the attending system of hospitals, they would be able to check a patient's condition often and provide them with nursing care services. However, the current attending system lacks delivery and assistance support. Thus, for the successful performance of the attending system, a networking system should be developed to facilitate communication between the doctors and nurses. In particular, the nursing records in the attending system could help doctors monitor the patient's condition and provision of nursing care services. A nursing record is the formal documentation associated with nursing care. It is merely a data repository that helps nurses to track their activities; nursing records thus represent a resource of primary information that can be reused. In order to maximize their usefulness, nursing records have been introduced as part of computerized patient records. However, nursing records are internal data that are not disclosed by hospitals. Moreover, the lack of standardization of the record list makes it difficult to share nursing records. Under the attending system, nurses would want to minimize the amount of effort they have to put in for the maintenance of additional records. Hence, they would try to maintain the current level of nursing records in the form of record lists and record attributes, while doctors would require more detailed and real-time information about their patients in order to monitor their condition. Therefore, this study developed a system for assisting in the maintenance and sharing of the nursing records under the attending system. In contrast to previous research on the functionality of computer-based nursing records, we have emphasized the practical usefulness of nursing records from the viewpoint of the actual implementation of the attending system. We suggested that nurses could design a nursing record dictionary for their convenience, and that doctors and nurses could confirm the definitions that they looked up in the dictionary through negotiations with intelligent agents. Such an agent-based system could facilitate networking among medical institutes. Multi-agent systems are a widely accepted paradigm for the distribution and sharing of computation workloads in the scientific community. Agent-based systems have been developed with differences in functional cooperation, coordination, and negotiation. To increase such communication, a framework for a multi-agent based system is proposed in this study. The agent-based approach is useful for developing a system that promotes trade-offs between transactions involving multiple attributes. A brief summary of our contributions follows. First, we propose an efficient and accurate utility representation and acquisition mechanism based on a preference scale while minimizing user interactions with the agent. Trade-offs between various transaction attributes can also be easily computed. Second, by providing a multi-attribute negotiation framework based on the attribute utility evaluation mechanism, we allow both the doctors in charge and nurses to negotiate over various transaction attributes in the nursing record lists that are defined by the latter. Third, we have designed the architecture of the nursing record management server and a system of agents that provides support to the doctors and nurses with regard to the framework and mechanisms proposed above. A formal protocol has also been developed to create and control the communication required for negotiations. We verified the realization of the system by developing a web-based prototype. The system was implemented using ASP and IIS5.1.

• Journal of the Korean Institute of Landscape Architecture
• /
• v.40 no.2
• /
• pp.130-137
• /
• 2012

This research evaluated the effectiveness of organic matter ratios in substrate and mulching materials under mn-irrigated condition green roofs by measuring the effects on growth of Liatris spicata. Four mulching materials were installed, i. e. nun-mulched control(CON), volcanic ash soils(VAS), non-woven black fabric mat(NBM) and pine bark(PAK). Three levels of organic maller volume percentage in an amended soil were evaluated, amended soil: organic matter=100:0($A_1O_0$), amended soil: organic matter=80:20($A_4O_1$) and amended soil: organic matter=50:50($A_1O_1$). Plant height, number of leaves, diameter of flower stalk, number of florets, chlorophyll contents, shoot fresh and dry weight were recorded from April to September, 2010, and survival rate was examined on May 2011 of the following year. In the $A_1O_0$, the number of leaves, number of florets and chlorophyll contents were higher in Liatris spicata grown on NBM than other mulching treatments. Especially, plant height, shoot fresh and dry weight were significantly higher. However, it resulted the lowest survival rate than other mulching treatments. 2. In the $A_4O_1$, the plant height, number of leaves, number of florets, shoot fresh and dry weight were higher than other mulching treatments, but there was no significant difference except for the plant height of Liatris spicata grown on NBM. The survival rate was decreased by 40~60%, compared with $A_1O_0$, after overwintering. 3. In the $A_1O_1$, the plant height, number of leaves, diameter of flower stalk, number of florets, chlorophyll contents, shoot fresh and dry weight were slightly higher than other mulching treatments, but there was no significant difference from Liatris spicata grown on NBM and VAS. The survival rate was observed by 0% over all mulching treatments after overwintering. Therefore, the non-woven black fabric mat(NBM) promoted the Liatris spicata's growth and flowering compared with other mulching treatments. However, the survival rate was decreased significantly, and the organic matter ratios were increased after overwintering under non-irrigated green roofs.