• Title/Summary/Keyword: Economic Gain

Search Result 442, Processing Time 0.035 seconds

Genetic Correlation of Carcass and Meat Production Traits with Hormones and Metabolic Components in Hawoo (가축의 혈청 호르몬 및 대사물질 농도와 도체 및 산육형질에 대한 유전상관에 관한 연구)

  • Jeon G. J.;Juong H. Y.;Cho K. H.;Kim M. J.;Kim I. C.;Kim J. B.
    • Journal of Embryo Transfer
    • /
    • v.20 no.3
    • /
    • pp.255-269
    • /
    • 2005
  • This study was aimed to investigate genetic relationships, variables, and correlations between economic traits and metabolic materials in serum components according to bleeding periods and breeding locations for the castrated and not castrated Hanwoo cattle at National Livestock Research Institute. Analysis of variance for serum hormones and metabolic materials showed significant differences by breeding locations except for testosterone and globulin. Statistical differences for serum components were detected by birth year except for cortisol, total protein, globulin and creatinine, and by castration except for total protein and BUN. All the serum components were tended to have sire effects except for testosterone resulting in some degree of additive gene actions. Breeding locations showed statistical significances for carcass weight and back fat thickness, but not in carcass rate, KPH, live weight and transportation weight loss. Effects of breeding locations and castration were significant for all weight measurement periods except for 9 month and 6 month, respectively. A significant sire effect was observed in all weight measurements. Least squared means for concentration of serum components by breeding year, season and castration were not significant. High concentration of cortisol, creatinine and triglyceride and low concentration of IGF-1 and glucose were detected in castrated cattle. Concentration of testosterone with castrated cattle was $5.2\%$ corresponding to non castrated cattle. Estimation of heritabilities of serum components using a sire model with restricted maximum likelihood were ranged 0.07 to 0.58. High heritabilities were estimated for total protein, albumin, globulin, cortisol, creatinine and BUN were 0.53, 0.54, 0.42, 0.45, 0.58 and 0.54, respectively. Low heritabilities were estimated fur calcium, testosterone and IGF-1 for 0.07, 0.15 and 0.12, respectively. Heritabilities for carcass weight, back fat thickness, meat yield index, KPH, and IMF were estimated as 0.39, 0.45, 0.30 0.13, and 0.93. Heritabilities of weights on 18, 12, 9, 6, and 24 month were estimated as 0.78, 0.76, 0.62, 0.58 and 0.58. Estimated heritabilities for average daily gain on 6${\~}$2, 12${\~}$18, and 18${\~}$24 month were 0.80, 0.75 and 0.19, respectively.

Foreign Investors Response to the Foreign Exchange Rate Risk in the Korean Stock Markets (한국 주식시장에서 환위험에 대한 외국인 투자자의 반응)

  • Park, Jong-Won;Kwon, Taek-Ho;Lee, Woo-Baik
    • The Korean Journal of Financial Management
    • /
    • v.25 no.4
    • /
    • pp.53-78
    • /
    • 2008
  • Foreign investors who invest in the Korean stock markets are exposed to two kinds of foreign exchange rate risk, the economic exposure and the translation exposure. The former is the foreign exchange rate exposure in return generating process of the assets invested and the latter is the foreign exchange rate exposure in the translation of domestic return into foreign investors' currency. Domestic investors, however, are exposed only to foreign exchange rate exposure in the asset invested. This different situation on foreign exchange rate exposure between foreign investors and domestic investors can induce different response to exchange rate change by investor groups. Previous studies on foreign exchange rate exposure of Korean firms reported that quite a few Korean firms are exposed to foreign exchange risks and suggested to manage the foreign exchange risks. Also, many studies on the market segmentation showed that a market can be practically segmented according to the characteristics of investor groups. These studies support the hypothesis that the Korean stock market can be practically segmented by the foreign investors' attitude to the foreign exchange rate exposure. This study examines the response of both foreign investors and domestic investors to the foreign exchange rate exposures in Korean stock markets. Test results show that foreign investors increase their sell transactions when the foreign exchange rate exposure of the previous day is negative. This result can be possible when foreign investors attempt to actively manage the decrease in value of their assets due to rising of exchange rate. Analysis on the sell order data is also supportive to this interpretation. Foreign investors also increase their buy transactions when the foreign exchange rate exposure of the previous day is negative. This result can be possible when foreign investors use actively the relation between the increase in asset value and the translation gain due to declining of exchange rate. Analyses on buy order data, however, do not show the same result as the analyses on transaction data. This difference may come from the difference of information contained in transaction data and order data. In summary, the result of the paper supports the hypothesis that foreign investors response differently to foreign exchange rate exposure compared with domestic, Korean investors. Two groups do not show different response when exchange rate exposure is positive, i.e., as foreign exchange rate is increase (decrease), the asset value is increase (decrease). However, foreign investors' response is different from that of domestic investors when exchange rate exposure is negative, i.e., as foreign exchange rate is increase (decrease), the asset value is decrease (increase). These results mean that foreign investors and domestic investors are placed in different situations related to foreign exchange rate exposure, and these differences are reflected in the Korean stock markets. And domestic investors need to consider foreign investors' different attitude to the foreign exchange rate exposure when they analysis foreign investors' trading behavior.

  • PDF

A Study of on the Method to Select Manufacturing Activities Sensitive to Regional Characteristics by Analyzing the Locational Hierarchy (입지계층분석을 활용한 산업단지 유치 업종 결정에 관한 연구)

  • So, Jin-Kwang;Lee, Hyeon-Joo;Kim, Sun-Woo
    • Land and Housing Review
    • /
    • v.2 no.4
    • /
    • pp.559-568
    • /
    • 2011
  • This study aims at listing up those manufacturing activities sensitive to regional characteristics by analyzing locational hierarchy designed on the urban rank-size rule. This locational hierarchy by manufacturing activities is expected to provide a ground for the proper supply of an industrial complex. The analysis of the locational hierarchy by manufacturing activities can work as a method of observing the characteristics of the distribution of location for each economic activity by analyzing the trend in the change of manufacturing location. Consequently, it can be used to determine the appropriate manufacturing activities for the industrial complex of a particular region. Here, the locational hierarchy is analyzed depending on the base of the basic local government such as Gun(district level) and Si(city level), and manufacturing activities are categorized by Korea Standard Industry Code. Those activities demonstrating growth pattern are Manufacture of Electronic Equipment(KSIC 26), Manufacture of Medical Precision Optical Instruments Watch(KSIC 27), Manufacture of Motor Vehicles (KSIC 30, 31), etc. With proper infrastructures, these activities can be located everywhere. Those sectors on the decline pattern in the locational hierarchy can be summarized as Manufacture of Tobacco Products(KSIC 12), Manufacture of wearing apparel Fur Articles(KSIC 14), etc. Those sectors scattered widely in the locational hierarchy are Manufacture of Food Products(KSIC 10), Manufacture of Coke Petroleum Products(KSIC 19), Manufacture of Chemical Products(KSIC 20), Manufacture of Electronic Equipment(KSIC 26). These particular manufacturing activities can be operated in those regions in a sufficient supply of unskilled workers regardless of proper infrastructures. Those activities that have a tendency to reconcentrate on larger cities are Manufacture of Textiles(KSIC 13), Manufacture of Wearing Apparel Clothing Fur Articles(KSIC 14), Manufacture of Other Transport Equiptmen(KSIC 31). In most cases, these sectors tend to favor their existing agglomerated areas and concentrate around large cities. Therefore, it is inefficient to promote these sectors in small or medium-sized cities or underdeveloped regions. The establishment of developmental strategies of an industrial complex can gain greater competitiveness by observing such characteristics of the locational hierarchy.

A Nutrition Intakes Survey of Pregnant Women in a Urban Area -Application of Convenient Method for the Study of Nutritionial Status- (일개 도시지역 임신부의 영양섭취에 관한 조사연구 -간이식 영양조사법 이용-)

  • Kim, In-Sook
    • Journal of Preventive Medicine and Public Health
    • /
    • v.16 no.1
    • /
    • pp.99-104
    • /
    • 1983
  • Aiming at the total 200 pregnant women including 150 ones registered with the Health Center of Chung Ku District and 50 ones registered with the Health Center of Mapo District, we have conducted a research study of the socio-medical characteristics, maternal child health, and the status of nutritional intake which has utilized the application of convenient method for the study of nutritional status, during the period of April 20 to May 25, 1983. And we have obtained the following conclusions: 1. Regarding age distribution, the pregnant women aged from 26 to 30 were most numerous, which was 54.0%. The percentage of women who experienced the first pregnancy was 12.0% and the percentage of those who experienced the second pregnancy was 37.0%, which was the highest. Regarding the weeks of pregnancy of the pregnant women, the first trimesterr was 11.5%, the second trimester 30.0%, and the third trimester 58.6%. 2. Regarding academic achievements, the pregnant women who graduated from middle schools reached 43.5%, which was the highest percentage. Regarding economic status, the pregnant women who owned their own houses were only 21.0%. And the pregnant women whose monthly income was from 300,000 won to 400,000 won were 40%, which was the most numerous. 5. The women above 15 years old who experienced the first menstruation were 84.0%. And those who experienced abortion were totally 54.4%. and 35.5% among those women experienced artificial abortion. 4. 70.5% of the pregnant women said that their health condition was excellent, 24.5% felt subjective complaints, and 5.0% specially received medical consultation for their diseases. 5. 82.0% received prenatal care, but 60.5% regularly received prenatal care. 68.0% received the education for nutrition and only 19.5% regularly received the education for nutrition. 6. Regarding the family composition, the families consisting of two generations were 47.0%, which was the most numerous. 97.5% of the preparation for meals was conducted by housewives. They said that they did not lack time for meal preparation. 7. 94.9% of the pregnant women said that they had eaten as in ordinary times during their pregnancy. 25.5% said that there were tabooed foods. Tabooed foods are chiefly pork, chicken, milk, and eggs. 68.0% don't drink milk during pregnancy, 32.5% take the intake of vitamins, and 20.5% take iron supplement. 8. The average amounts of the intake of protein, fat, and carbohydrate of a pregnant women are 49.3gm, 29.4gm, and 205.1gm respectively, which showed the phenomenon in which the amount of the intake of nutrition increased as the weeks of pregnancy increased. The average amount of the intake of salt was 14.2gm. 9. Regarding the hemoglobin value of all pregnant women, those whose hemoglobin value was less than 11.0gm were 66.5%, those whose hemoglobin value was 11 to 12 gm were 16.5%. and those whose hemoglobin value was above 12gm were 17.0%. The pregnant women whose hemoglobin value was less than 11.0gm in the first trimester of pregnancy, in the second trimester, and in the trimester were 81.8%, 62.8%, and 64.9% respectively. This shows that the phenomenon of anemia increased as the weeks of pregnancy increased 10. Regarding physical development of a pregnant woman during prenatal period, the height and weight were $156.7cm{\pm}14.1$ and $51.1kg{\pm}58$ respectively. When the standard increase of a prenatal weigt gain is set as 100%, the women over the range of 100% were 28.0% and the women under the range of 80% were 37.0%.

  • PDF

Research on the Re-organization of the Administration of Labor's Records in the custody of the National Archives (노동청 기록의 재조직에 관한 연구 - 국가기록원 소장 기록을 중심으로 -)

  • Kwak, Kun-Hong
    • The Korean Journal of Archival Studies
    • /
    • no.23
    • /
    • pp.141-178
    • /
    • 2010
  • The Administration of Labor was responsible for the technical and practical functions like policy-making of labor matters and implementing the relevant laws. However, there has been a few record transferred to the National Archives to help find out the labor policy-making process. This is one of the typical examples that shows the discontinuity and unbalance, and disorderly filing of the administrative records in Korea. Naturally it is almost impossible to retrieve the appropriate content through the records file-name. Users should be at the trouble to compare the record items and their content one by one. For the re-organization of the Administration of Labor' records, this research suggests the four-level analysis of functions of the Administration. The Administration of Labor' survived records could be linked to each level function. And the publication of the 'Records Abstract Catalog' providing users with more information about the records would pave the way for easier access to the records. In addition, it also suggests the logical re-filing of the survived records of which we cannot find the order or sequence. This re-organization of the survived records would help to establish the acquisition and appraisal policy of the labor records as well as the new way of description and finding tool hereafter. Drawing up labor history map is a starting point for the acquisition strategy of the labor records, which could allow users to gain systematic access on the survived records. Of course, extensive investigation and research on the survived records is a prerequisite for the map. It would be required to research on the survived records of the other government agencies, including economic-social area ministries and investigation agencies and the National Assembly as well. It is also needed to arrange and typify the significant incidents and activities on thematic and periodic frames in the labor history. If possible to understand or connect the survived records and these accomplishments comprehensively, it would be of great help for the acquisition of the labor records and the related oral records projects.

A Study on Method of Citizen Science and Improvement of Performance as a Ecosystem Conservation and Management Tool of Wetland Protected Areas (Inland Wetland) - Focused on the Target of Conservation·Management·Utilization in Wetland Protected Area Conservation Plan - (내륙 습지보호지역의 생태계 보전·관리 도구로서 시민과학연구 방법론 및 성과 제고 방안 - 습지보호지역 보전계획의 보전·관리·이용 목표를 중심으로 -)

  • Inae Yeo;Changsu Lee;Ji Hyun Kang
    • Journal of Environmental Impact Assessment
    • /
    • v.32 no.6
    • /
    • pp.450-462
    • /
    • 2023
  • This study suggested methodology of Citizen Science as a tool of ecosystem conservation and management to achieve Wetland Protected Area (WPA) Conservation Plan and examined whose applicability in 3 WPAs (Jangrok of Gwangju metropolitan city, Madongho of Goseong in South Gyeongsang Province, and Incheongang estuary of Gochang in North Jeolla Province). It consists of a) figuring out main interests and stakeholder or beneficiaries of WPA and their information demand based on conservation, utilization, and management target in the WPA Conservation Plan, b) conducting research activities to gain outcome to address stakeholder's demand, and c) returning the research outcome to citizen scientists and making diffusion to the society. Based on the suggested method and process, citizen scientists conducted ecosystem monitoring (plants including Invasive Alien Plants, terrestrial insects, traces of mammals, discovering unknown wetland). As a result, citizen scientists contributed to collecting species information of 16 plans, 43 species of terrestrial insects, 5 mammals including Lutra lutra (Endangered Species I) and Prionailurus bengalensis (Endangered Species II). The authors constructed and provided distribution map of Invasive Alien Plants, which included information of location and density which citizen scientists registered, for Environment Agencies and local governments who manage 3 WPAs to aid data-based ecosystem policy, In further studies, not only accumulating research data and outcomes acquired from citizen science to suffice the policy demands but also deliberate reviewing policy applicability and social·economic ripple effect should be processed for the suggested Citizen Science in WPA to be settled down as a tool of ecosystem conservation and management.

Importance and requirements for dental prosthesis order platform services: a survey of dental professionals (치과 보철물 거래 플랫폼 서비스의 중요성과 요구사항: 치과 전문가 설문조사)

  • Gyu-Ri Kim;Keunbada Son;Du-Hyeong Lee;So-Yeun Kim;Myoung-Uk Jin;Kyu-Bok Lee
    • Journal of Dental Rehabilitation and Applied Science
    • /
    • v.39 no.3
    • /
    • pp.105-118
    • /
    • 2023
  • Purpose: This study aimed to gain better understanding of the importance of dental prosthesis order platform services and to identify the essential elements for their enhancement and wider adoption among dental professionals. Materials and Methods: A survey was conducted to assess the perspectives of dentists, dental technicians, dental hygienists, and dental industry professionals toward dental prosthesis ordering and associated platform services (a total of 53 respondents). The questionnaire was devised after an expert review and assessed for reliability using Cronbach's alpha coefficient. Factor analysis revealed that 57 factors across five categories accounted for 88.417% of the total variance. The survey was administered through an online questionnaire platform, and data analysis was conducted using a statistical software, employing one-way analysis of variance and Tukey's honestly significant difference test (α = 0.05). Results: The essential elements identified were accurate information input, effective communication, delivery of distortion-free impressions, convenience in data transmission and storage, development of stable and affordable platform services (P < 0.05). Furthermore, significant differences were observed in the importance of these items based on age, dental profession, and career experience (P < 0.05). Conclusion: The dental prosthesis ordering platform services, the requirements of dental personnel were stability, economic efficiency, and ease of transmitting and storing prosthesis data. The findings can serve as important indicators for the development and improvement of dental prosthesis order platform services.

Studies on the Meat Production and Woolskin Processing of Sheep and Korean Native Goats for Increasing Farm Income as a Family Subsidiary Work (농가부업(農家副業)의 소득향상(所得向上)을 위한 양육생산(羊肉生産) 및 모피가공(毛皮加工)에 관(關)한 연구(硏究))

  • Kwon, Soon-Ki;Kim, Jong-Woo;Han, Sung-Wook;Lee, Kyu Seung
    • Korean Journal of Agricultural Science
    • /
    • v.5 no.2
    • /
    • pp.93-114
    • /
    • 1978
  • The purpose of the study was to find out possible ways for increasing farm income through the sheep and Korean native goats farming, and to investigate meat productivity, wool productivity; woolskin utility, physiological characteristics and correlation between economical college animal farm of the Chungnam National University and sample farms in the suburbs of Dae jeon City were selected for feeding 20 heads of Corriedale wethers and another 20 heads Korean native kids as research materials for the periods of 5th May-26th November, 1977. The data such as growth rate, carcass, viscera weight, blood picture and plamsa components, hebage intake and economic traits were obtained and analysed. The result of the study are summarized as follows: 1. Meat production and quality 1) After 196days of feeding, the body weight of sheep and Korean native goats was increased by two times of those at the beginning of the trial, i.e. 20kg and 8kg respectively. 2) There was no significance of growth rates of sheep in housing and grazing. 3) The growth rate of Korean native goats were excellent at the mountainous areas of Gong ju-Gun where infectious diseases were not found 4) Accroding to the body measurements of 18-month-old sheep, percentages of hip height, body length, rump length, chest depth, chest width, hip width, chest girth and forearm circumference to the withers height were 103,%, 104%, 33%, 44%, 31%, 23%, 135% and 15% respectively, and those of hip height, body length, chest depth and chest girth of 8-month-old native goats to the withers height were 106%, 109%, 46% and 122,% respecitively. As a result, it was found that the percentage of hip height, body length and chest depth of Korean native goats were higher than those of sheep while that of the chest girth of goats was lower. 5) In the carcass data, 47, $52{\pm}2.27%$ of carcass percentage, $34.61{\pm}1.62%$ of lean meat, $26.07{\pm}2.51%$ of viscera, $9.75{\pm}1.4%$ of bone, and $20.95%{\pm}2.14%$ of woolskin for sheep, and $45.58{\pm}5.63%$ of carcass percentage, $27.62{\p}3.81%$ of meat, $34.86{\pm}4.16%$ of viscera, $11.66{\pm}1.83%$ of bone, $3.63{\pm}1.61%$ of skull and $9.26{\pm}2.41%$ of woolskin for native goats were obtained. 6) The contents of moisture, crude protein, crude fat and crude ash in native goat meat were much similar in both plots of housing and grazing. It was, however, known that the contents of moisture and protein were higher in grazinrg than in housing, while fat content was lower in grazing plots. 7) The weights of visceral organs shown similar tendency for both of sheep and native goats. For the weights of liver, heart, kidney and spleen, significance was not reconized among the treatments. Those of rumen, reticulum, small and large intestine were heavier in grazing than in housing, while the amount of visceral fat was heavier in housing. 2. Wool productivity and woolskin 1) The wool production of sheep for 7 months was $3.88{\pm}1.02kg$, and wool percentage, staple length, straighten length, wool growth per day and number of crimps were $9.27{\pm}1.48%$, 8. $47{\pm}1.00cm$, $10.63{\pm}0.99cm$, $0.40{\pm}0.04cm$ and $2.78{\pm}0.40$ respecitively. 2) The tensile strength and tear strength of woolskin treated by alum tanning were highest on the skin obtained from rump, i.e. $1,351kg/mm^2$ and $2,252kg/mm^2$ respectively, and they are in order of loin and shoulder. 3. Utilization and improvement of pasture. 1) The difference of herbage intake of native goats was not recognized between grazing and tethering, but the intake in the afternoon was s lightly higher than that in the morning. However the hervage intake of sheep was superior in grazing and in the afternoon. 2) The cultivation effect was lower in the native goat plots due to their cultivation abilities, in other words, the establishment rates of pasture by hoof cultivation were 60.25% in the goat plots and 77.35% in the sheep plots. 4. Correlation among economical traits. 1) The correlation between live weight of sheep and daily gain was higher. On the other hand, the correlation between other traits was not significant except that live weight, daily gain and lean meat percentage to the length of thoracic vertebrae. The live weight of native goats and meat production were highly correlated, and high correlation was also found between weights of carcass and meat. However, negative correlation was shown between viscera weight and live weight as well as daily gain. 2) The correlatoin between fleece weight of sheep and other traits such as live weight, daily gain and fleece percentage is very high at the 1% siginficant level, and this means that rapid-growth individuals can produce much fleece. 3) The correlation between the factors such as weights of live body, lean meat and viscera of sheep and body measurements, i. e. chest girth and body length was highest, and weights, of carcass and lean meat was highly correlated to chest width and depth. It will be therefore reasonable that the meat productivity estimates will have to be made on the basis of chest girth and body length. The meat production traits of native goats were highly correlated to the most of body measurement data, and the correlation coefficient between chest girth and weights of live body, carcass, lean meat and bone percentage was very high, i. e. 0.992-0.974 in particular. The correlations of meat production traits to chest depth, forearm circumference, body length were 0.759-0.911, 0.759-0.909 and 0.708-0.872 respectively. Therefore, the meat production of native goats will have to be estimated on the basis of chest data. 5. Blood picture and plasma components. 1) The number of erythrocyte and MCHC of native goats were $12.93{\times}10^6/mm^3$ and 36.14%, and those of sheep were $10.68{\times}10^6/mm^3$ and 36.26 respectively. The values of native goats were significantly higher than those of sheep. 2) The hemoglobin concentration, PVC, MCV and MCR of native goats were 10.92 g/100ml, $23.40{\mu}^3$ and 10.94 pg, and those of sheep were 11.73 g/100ml, 36.25 ml/100ml, $33.97{\mu}^3$ and 30.2 ml/100ml 8.43 pg respectively. The values of native goats were significantly lower those of sheep. 3) The number of leukocytes of native goats was significantly higher than that of sheep, that is, $11.64{\times}10^3/mm^3$ in native goats and $9.32{\times}10^3/mm^3$ in sheep. 4) In differential count of leukocyte, neutrophil was significantly high in native goats while lympocyte in sheep. On the other hand, the basophil, eosinophil and monocyte were not significant between native goats and sheep. 5) The amounts of total protein and glucose in the plasma of native goats were 6.2g/100ml and 53.6mg/100ml, and those of sheep were 5.6g/100ml and 45.7mg/100ml, which means that the values of native goats were significantly higher that those of sheep. The amount of total-lipid of native goats(127.6mg/100ml) was significantly than that of sheep(149.6mg/100ml). 6) The amount of non-protein nitrogen, cholesterol, Ca, P, K, Na and Cl were not different between native goats and sheep. 6. Economic analysis. 1) The gross revenue of a farm which fed native goats and sheep was 4,000won per head and the optimum size for feeding them in a farm as a subsidiary work is 5-10 heads. 2) Since there was no difference between housing and grazing, they can be fed in group for farm's subsidiary work. 3) They can be also fed by youths and house wives in the suburbs of cities, because labour requirement is estimated as only two hours per days for feeding 5 heads of native goats and sheep.

  • PDF

Scale and Scope Economies and Prospect for the Korea's Banking Industry (우리나라 은행산업(銀行産業)의 효율성분석(效率性分析)과 제도개선방안(制度改善方案))

  • Jwa, Sung-hee
    • KDI Journal of Economic Policy
    • /
    • v.14 no.2
    • /
    • pp.109-153
    • /
    • 1992
  • This paper estimates a translog cost function for the Korea's banking industry and derives various implications on the prospect for the Korean banking structure in the future based on the estimated efficiency indicators for the banking sector. The Korean banking industry is permitted to operate trust business to the full extent and the security business to a limited extent, while it is formally subjected to the strict, specialized banking system. Security underwriting and investment businesses are allowed in a very limited extent only for stocks and bonds of maturity longer than three year and only up to 100 percent of the bank paid-in capital. Until the end of 1991, the ceiling was only up to 25 percent of the total balance of the demand deposits. However, they are prohibited from the security brokerage business. While the in-house integration of security businesses with the traditional business of deposit and commercial lending is restrictively regulated as such, Korean banks can enter the security business by establishing subsidiaries in the industry. This paper, therefore, estimates the efficiency indicators as well as the cost functions, identifying the in-house integrated trust business and security investment business as important banking activities, for various cases where both the production and the intermediation function approaches in modelling the financial intermediaries are separately applied, and the banking businesses of deposit, lending and security investment as one group and the trust businesses as another group are separately and integrally analyzed. The estimation results of the efficiency indicators for various cases are summarized in Table 1 and Table 2. First, security businesses exhibit economies of scale but also economies of scope with traditional banking activities, which implies that in-house integration of the banking and security businesses may not be a nonoptimal banking structure. Therefore, this result further implies that the transformation of Korea's banking system from the current, specialized system to the universal banking system will not impede the improvement of the banking industry's efficiency. Second, the lending businesses turn out to be subjected to diseconomies of scale, while exhibiting unclear evidence for economies of scope. In sum, it implies potential efficiency gain of the continued in-house integration of the lending activity. Third, the continued integration of the trust businesses seems to contribute to improving the efficiency of the banking businesses, since the trust businesses exhibit economies of scope. Fourth, deposit services and fee-based activities, such as foreign exchange and credit card businesses, exhibit economies of scale but constant returns to scope, which implies, the possibility of separating those businesses from other banking and trust activities. The recent trend of the credit card business being operated separately from other banking activities by an independent identity in Korea as well as in the global banking market seems to be consistent with this finding. Then, how can the possibility of separating deposit services from the remaining activities be interpreted? If one insists a strict definition of commercial banking that is confined to deposit and commercial lending activities, separating the deposit service will suggest a resolution or a disappearance of banking, itself. Recently, however, there has been a suggestion that separating banks' deposit and lending activities by allowing a depository institution which specialize in deposit taking and investing deposit fund only in the safest securities such as government securities to administer the deposit activity will alleviate the risk of a bank run. This method, in turn, will help improve the safety of the payment system (Robert E. Litan, What should Banks Do? Washington, D.C., The Brookings Institution, 1987). In this context, the possibility of separating the deposit activity will imply that a new type of depository institution will arise naturally without contradicting the efficiency of the banking businesses, as the size of the banking market grows in the future. Moreover, it is also interesting to see additional evidences confirming this statement that deposit taking and security business are cost complementarity but deposit taking and lending businesses are cost substitute (see Table 2 for cost complementarity relationship in Korea's banking industry). Finally, it has been observed that the Korea's banking industry is lacking in the characteristics of natural monopoly. Therefore, it may not be optimal to encourage the merger and acquisition in the banking industry only for the purpose of improving the efficiency.

  • PDF

A Study on Recent Research Trend in Management of Technology Using Keywords Network Analysis (키워드 네트워크 분석을 통해 살펴본 기술경영의 최근 연구동향)

  • Kho, Jaechang;Cho, Kuentae;Cho, Yoonho
    • Journal of Intelligence and Information Systems
    • /
    • v.19 no.2
    • /
    • pp.101-123
    • /
    • 2013
  • Recently due to the advancements of science and information technology, the socio-economic business areas are changing from the industrial economy to a knowledge economy. Furthermore, companies need to do creation of new value through continuous innovation, development of core competencies and technologies, and technological convergence. Therefore, the identification of major trends in technology research and the interdisciplinary knowledge-based prediction of integrated technologies and promising techniques are required for firms to gain and sustain competitive advantage and future growth engines. The aim of this paper is to understand the recent research trend in management of technology (MOT) and to foresee promising technologies with deep knowledge for both technology and business. Furthermore, this study intends to give a clear way to find new technical value for constant innovation and to capture core technology and technology convergence. Bibliometrics is a metrical analysis to understand literature's characteristics. Traditional bibliometrics has its limitation not to understand relationship between trend in technology management and technology itself, since it focuses on quantitative indices such as quotation frequency. To overcome this issue, the network focused bibliometrics has been used instead of traditional one. The network focused bibliometrics mainly uses "Co-citation" and "Co-word" analysis. In this study, a keywords network analysis, one of social network analysis, is performed to analyze recent research trend in MOT. For the analysis, we collected keywords from research papers published in international journals related MOT between 2002 and 2011, constructed a keyword network, and then conducted the keywords network analysis. Over the past 40 years, the studies in social network have attempted to understand the social interactions through the network structure represented by connection patterns. In other words, social network analysis has been used to explain the structures and behaviors of various social formations such as teams, organizations, and industries. In general, the social network analysis uses data as a form of matrix. In our context, the matrix depicts the relations between rows as papers and columns as keywords, where the relations are represented as binary. Even though there are no direct relations between papers who have been published, the relations between papers can be derived artificially as in the paper-keyword matrix, in which each cell has 1 for including or 0 for not including. For example, a keywords network can be configured in a way to connect the papers which have included one or more same keywords. After constructing a keywords network, we analyzed frequency of keywords, structural characteristics of keywords network, preferential attachment and growth of new keywords, component, and centrality. The results of this study are as follows. First, a paper has 4.574 keywords on the average. 90% of keywords were used three or less times for past 10 years and about 75% of keywords appeared only one time. Second, the keyword network in MOT is a small world network and a scale free network in which a small number of keywords have a tendency to become a monopoly. Third, the gap between the rich (with more edges) and the poor (with fewer edges) in the network is getting bigger as time goes on. Fourth, most of newly entering keywords become poor nodes within about 2~3 years. Finally, keywords with high degree centrality, betweenness centrality, and closeness centrality are "Innovation," "R&D," "Patent," "Forecast," "Technology transfer," "Technology," and "SME". The results of analysis will help researchers identify major trends in MOT research and then seek a new research topic. We hope that the result of the analysis will help researchers of MOT identify major trends in technology research, and utilize as useful reference information when they seek consilience with other fields of study and select a new research topic.