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The Relations between Financial Constraints and Dividend Smoothing of Innovative Small and Medium Sized Enterprises (혁신형 중소기업의 재무적 제약과 배당스무딩간의 관계)

  • Shin, Min-Shik;Kim, Soo-Eun
    • 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(DPSt), and independent variables are the past dividend per share(DPSt-1) and the current earnings per share(EPSt). We hypothesized that firms adjust partially the gap between the current dividend per share(DPSt) and the target payout ratio(Ω) each year, when the past dividend per share(DPSt-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(DPSt), explanatory variables are the past dividend per share(DPSt-1) and the current earnings per share(EPSt), and control variables are the current capital expenditure ratio(CEAt), the current leverage ratio(LEVt), the current operating return on assets(ROAt), the current business risk(RISKt), the current trading volume turnover ratio(TURNt), and the current dividend premium(DPREMt). In these control variables, CEAt, LEVt, and ROAt are the determinants suggested by the residual dividend theory and the agency theory, ROAt and RISKt are the determinants suggested by the dividend signaling theory, TURNt is the determinant suggested by the transactions cost theory, and DPREMt 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.

The Research on Recommender for New Customers Using Collaborative Filtering and Social Network Analysis (협력필터링과 사회연결망을 이용한 신규고객 추천방법에 대한 연구)

  • Shin, Chang-Hoon;Lee, Ji-Won;Yang, Han-Na;Choi, Il Young
    • Journal of Intelligence and Information Systems
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    • v.18 no.4
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    • pp.19-42
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    • 2012
  • Consumer consumption patterns are shifting rapidly as buyers migrate from offline markets to e-commerce routes, such as shopping channels on TV and internet shopping malls. In the offline markets consumers go shopping, see the shopping items, and choose from them. Recently consumers tend towards buying at shopping sites free from time and place. However, as e-commerce markets continue to expand, customers are complaining that it is becoming a bigger hassle to shop online. In the online shopping, shoppers have very limited information on the products. The delivered products can be different from what they have wanted. This case results to purchase cancellation. Because these things happen frequently, they are likely to refer to the consumer reviews and companies should be concerned about consumer's voice. E-commerce is a very important marketing tool for suppliers. It can recommend products to customers and connect them directly with suppliers with just a click of a button. The recommender system is being studied in various ways. Some of the more prominent ones include recommendation based on best-seller and demographics, contents filtering, and collaborative filtering. However, these systems all share two weaknesses : they cannot recommend products to consumers on a personal level, and they cannot recommend products to new consumers with no buying history. To fix these problems, we can use the information which has been collected from the questionnaires about their demographics and preference ratings. But, consumers feel these questionnaires are a burden and are unlikely to provide correct information. This study investigates combining collaborative filtering with the centrality of social network analysis. This centrality measure provides the information to infer the preference of new consumers from the shopping history of existing and previous ones. While the past researches had focused on the existing consumers with similar shopping patterns, this study tried to improve the accuracy of recommendation with all shopping information, which included not only similar shopping patterns but also dissimilar ones. Data used in this study, Movie Lens' data, was made by Group Lens research Project Team at University of Minnesota to recommend movies with a collaborative filtering technique. This data was built from the questionnaires of 943 respondents which gave the information on the preference ratings on 1,684 movies. Total data of 100,000 was organized by time, with initial data of 50,000 being existing customers and the latter 50,000 being new customers. The proposed recommender system consists of three systems : [+] group recommender system, [-] group recommender system, and integrated recommender system. [+] group recommender system looks at customers with similar buying patterns as 'neighbors', whereas [-] group recommender system looks at customers with opposite buying patterns as 'contraries'. Integrated recommender system uses both of the aforementioned recommender systems to recommend movies that both recommender systems pick. The study of three systems allows us to find the most suitable recommender system that will optimize accuracy and customer satisfaction. Our analysis showed that integrated recommender system is the best solution among the three systems studied, followed by [-] group recommended system and [+] group recommender system. This result conforms to the intuition that the accuracy of recommendation can be improved using all the relevant information. We provided contour maps and graphs to easily compare the accuracy of each recommender system. Although we saw improvement on accuracy with the integrated recommender system, we must remember that this research is based on static data with no live customers. In other words, consumers did not see the movies actually recommended from the system. Also, this recommendation system may not work well with products other than movies. Thus, it is important to note that recommendation systems need particular calibration for specific product/customer types.

Utilization of Phosphorus and Nitrogen Fertilizers by Paddy Rice -A six years internationally coordinated study using isotopes- (수도(水稻)에 대(對)한 인산(燐酸) 및 질소질비료(窒素質肥料)의 효용에 관(關)한 연구(硏究) -동위원소(同位元素)를 이용(利用)한 6 개년간(個年間)의 국제적(國際的) 공동시험결과(共同試驗結果)-)

  • Kim, H.S.;Cho, B.H.;Lee, C.Y.;Lee, E.W.;Shim, S.C.;Yoo, S.H.;Kwon, Y.W.;Jo, J.S.
    • Korean Journal of Soil Science and Fertilizer
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    • v.1 no.1
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    • pp.13-26
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    • 1968
  • To establish the most efficient method of nitrogen and phosphorus fertilization in paddy rice a series of internationally coordinated research using $N^{15}\;P^{32}$ isotopes were carried out from the year 1962 through 1967, supervised by the Joint FAO/IAEA Division of Atomic Energy in Agriculture under the auspicies of FAO, UN. In Korea College of Agriculture, Seoul National University had been participated in the Coordinated Research Programme from the year 1963 through the last year, arid the results obtained through the six years' researches are summarized as follows: 1. In the application of superphosphate broadcasting or placement at the surface of paddy as basal dressing was most efficient. 2. Split or late application of superphosphate did not affect the grain yield of the rice, but its efficiency in the rice plant uptake was less than in the case of basal dressing of whole amounts. 3. The contents of available soil phoshorus of the experimental sites in Korea were above 60 ppm, and the efficiency of phosphorus utilization of the rice from the fertilizer was approximately 10 per cent. The grain yield response of the rice to phosphorus application in Korea was rather small comparing to those of other countries. 4. The nitrogen uptake of the rice plants from the fertilizer was most efficient when the fertilizer was applied at the time of ear prime growth. However, the most efficient utilization of nitrogen did not necessarily accompany the maximum yield of the rice and basic application of adequate amount of nitrogen was required to secure proper number of panicles. 5. In the application of nitrogenous fertilizer shallow placement at 5 cm depth was most efficient. The effect of split application of nitrogen was not so noticeable. It seemed due to the fact that total application amount of nitrogen, 60 kg N/ha, was smaller than that of usual dosage in Korea. 6. The efficiency of nitrogen utilization of the rice from the fertilizer was about 40 percent in Korea, and the yield reponse of the rice plant to nitrogen application was remarkable comparing to those of other countries, showing the marked differences in the fertilizer efficiency and grain yield according to the application method. 7. The nitrogen uptake of the rice plant was not likely affected by the time and the rate of phosphorus application whereas the efficiency of phosphorus utilization was affected to some degree by the method of nitrogen application.

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A Study on Improvements on Legal Structure on Security of National Research and Development Projects (과학기술 및 학술 연구보고서 서비스 제공을 위한 국가연구개발사업 관련 법령 입법론 -저작권법상 공공저작물의 자유이용 제도와 연계를 중심으로-)

  • Kang, Sun Joon;Won, Yoo Hyung;Choi, San;Kim, Jun Huck;Kim, Seul Ki
    • Proceedings of the Korea Technology Innovation Society Conference
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    • 2015.05a
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    • pp.545-570
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    • 2015
  • Korea is among the ten countries with the largest R&D budget and the highest R&D investment-to-GDP ratio, yet the subject of security and protection of R&D results remains relatively unexplored in the country. Countries have implemented in their legal systems measures to properly protect cutting-edge industrial technologies that would adversely affect national security and economy if leaked to other countries. While Korea has a generally stable legal framework as provided in the Regulation on the National R&D Program Management (the "Regulation") and the Act on Industrial Technology Protection, many difficulties follow in practice when determining details on security management and obligations and setting standards in carrying out national R&D projects. This paper proposes to modify and improve security level classification standards in the Regulation. The Regulation provides a dual security level decision-making system for R&D projects: the security level can be determined either by researcher or by the central agency in charge of the project. Unification of such a dual system can avoid unnecessary confusions. To prevent a leakage, it is crucial that research projects be carried out in compliance with their assigned security levels and standards and results be effectively managed. The paper examines from a practitioner's perspective relevant legal provisions on leakage of confidential R&D projects, infringement, injunction, punishment, attempt and conspiracy, dual liability, duty of report to the National Intelligence Service (the "NIS") of security management process and other security issues arising from national R&D projects, and manual drafting in case of a breach. The paper recommends to train security and technological experts such as industrial security experts to properly amend laws on security level classification standards and relevant technological contents. A quarterly policy development committee must also be set up by the NIS in cooperation with relevant organizations. The committee shall provide a project management manual that provides step-by-step guidance for organizations that carry out national R&D projects as a preventive measure against possible leakage. In the short term, the NIS National Industrial Security Center's duties should be expanded to incorporate national R&D projects' security. In the long term, a security task force must be set up to protect, support and manage the projects whose responsibilities should include research, policy development, PR and training of security-related issues. Through these means, a social consensus must be reached on the need for protecting national R&D projects. The most efficient way to implement these measures is to facilitate security training programs and meetings that provide opportunities for communication among industrial security experts and researchers. Furthermore, the Regulation's security provisions must be examined and improved.

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Studies on the Lipid of Aquatic Products (Part 4) On the Flesh Lipid Composition of Cephalopods (수산물의 지질에 관한 연구 (제4보) -두족류의 근육지질성분에 대하여-)

  • HA Bong-Seuk
    • Korean Journal of Fisheries and Aquatic Sciences
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    • v.15 no.1
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    • pp.59-73
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    • 1982
  • Differences of lipids, especially total lipid composition, fatty acid and sterol composition of the flesh lipids between three species of cephalopods were investigated, since available researches concerning lipids in flesh tissues of the cephalopod are very limited. Extracted total lipid from the flesh tissues were fractionated by silicic acid column chromatography into three lipid classes of neutral lipids, glycolipids and phospholipids. The lipid compositions of total lipid and neutral lipids were estimated by the method of thin layer chromatography and TLC-scanner. The sterol compositions of unsaponifiable matters from total lipid were determined by using thin layer chromatography and gas-liquid chromatography. The fatty acid composition of each lipid class was also determined by gas-liquid chromatography. Total lipid contents of flesh tissues from three species of the cephalopods were 0.5 in Octopus vulgare, 0.8 in Octopus variabilis and $0.6\%$ in Loligo beka based on wet weight, the contents of total fatty acid in total lipid were 19.3, 47.8 and $38.4\%$, and the contents of unsaponifiable matters were 10.9, 18.8 and $41.1\%$, respectively. Total lipid was mainly composed of sterols and polar lipid-pigments as major components in each sample and the proportion of sterols and polar lipid-pigments to total lipid ranged from 27.0 to $35.5\%$ and 38.3 to $63.4\%$, respectively. The other lipid components of total lipid, e.g. triglycerides, free fatty acids, and carbohydrate-esterified sterols were determined as a minor components. The major component fatty acid in total lipid was palmitic acid and additionaly it chiefly consisted of the other unsaturated acids such as oleic, linoleic, octadecatetraenoic and eicosapentaenoic acid as major components of the acid. The compositions of sterol in three species of cephalopod were found to contain mainly cholesterol for its proportion to total sterols was 82.4 to $89.1\%$. However the other sterols such as 22-dehydrocholesterol and 24-methylenecholesterol were determined in addition to cholesterol as a minor components. The result of fractional composition of lipid class in total lipid was that total lipid had large .amount of polar lipid and small amount of nonpolar lipid i, e, neutral lipid in each sample, and the contents of phospholipid were higher than that of glycolipid in polar lipid. Neutral lipid was mainly composed of free sterol as major components in each sample and its proportion of free sterols to total neutral lipid was 50.0 to $70.5\%$. The other lipid components of neutral lipid showing similar in quantity, esterified sterols, free fatty acids and triglycerides were determined as a minor components. The major components fatty acid in neutral lipid were palmitic, oleic and hexadecadienoic acid. Palmitic acid was the most abundant and additionaly oleic, linoleic, octadecatetraenoic and myristic acid were the major component fatty acid in glycolipid. But, especially, glycolipid of Loligo beka contained a higher amount of arachidonic acid which also consists of major component in addition to those of acids. Palmitic acid was the most abundant and additionaly, oleic, linoleic and octadecatetraenoic acid were the major component fatty acids in phospholipid.

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A Study on Effects of the vocal psychotherapy upon Self-Consciousness (성악심리치료활동을 통한 자기의식 변화에 관한 연구)

  • Lee, Hyun Joo
    • Journal of Music and Human Behavior
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    • v.4 no.2
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    • pp.66-83
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    • 2007
  • The purpose of this study is to learn both effects of the vocal psychotherapy on the self-consciousness and the variety of the self-consciousness on the vocal psychotherapy in return. The research for this study was performed to three subjects who were students of E university, Seoul, ten times for sixty minutes. The subjects were all volunteers for the advertisement on a music-therapy program searching for them on the web site of E university. The vocal psychotherapy program consists of four steps and each of them consists of two to four short terms again. Both before and after the experiment, examinations on self-consciousness were done to recognize the change of the subjects' self-consciousness which would be caused by the vocal psychotherapy activity. After every short term, the subjects were asked to write reports to closely analyze the change of self-consciousness according to the terms and the variety of the subjects. The effect of the vocal psychotherapy activity on the changes of scores in the self-consciousness examination is the first thing to point out on this study. There appeared some personal varieties on the total scores of the examination and scores of some sub-categories. Especially, there were different scores on the private self-consciousness, the public self-consciousness, and the social anxiety between before and after performing the vocal psychotherapy program. Subject A, who had got the best score of all on the scope of the private self-consciousness, showed the steepest decrease on the very scope. On the contrary, the subject showed decrease of scores of the public self-consciousness and the social anxiety in the relatively little rate. Subject B, who had got the highest score of the three on the public self-consciousness, showed the steepest decrease on that of all scopes and showed no difference on the social anxiety scope. In the case of the last one, subject C, who had relatively low scores on the private and public self-consciousness than the others, the private self-consciousness score increased but the public self-consciousness and the social anxiety scores decreased. The changes of the scores of each questions were examined in order to see possible other changes that had not been exposed on the changes of the total and sub-categories scores. As a result of that, of all twenty-eight questions, there were changes about one to two points. Subject A showed the difference with thirteen questions, subject B with sixteen and subject C with nineteen questions. The rate of change of subject C was relatively small but more questions changed and the change of score was wider than the others. Considering all those results, It can be possibly said that the vocal psychotherapy affects the changes of the scores of sub-categories in self-consciousness examination. The next thing to point out on this study is the change of recognition that was exposed on the subjects' report after every short term of the program. As a result of the close analyzing, according to the short terms and variety of self-consciousness, recognizing the way express subjects themselves by voice and recognizing their own voices appeared to be different. How much they cared about others and why they did so were also different. According to the self reports, subject A cared much about her inner thought and emotion and tended to concentrate herself as a social object. There appeared some positive emotional experiments such as emotional abundance and art curiosities on her reports but at the same time some negative emotions such as state-trait anxiety and neuroticism also appeared. Subject B, who showed high scores on the private and public self-consciousness like subject A, had a similar tendency that concentrates on herself as a social object but she showed more social anxiety than subject A. Subject C got relatively lower points in self-consciousness examination, tended to care about herself, and had less negative emotions such as state-trait anxiety than other subjects. Also, with terms going on, she showed changes in the way of caring about her own voice and others. This study has some unique significances in helping people who have problems caused by self-estimation activated with self-consciousness, using voices closely related to one's own self, performing the vocal skills discipline to solve the technical problems. Also, this study has a potentiality that the vocal psychotherapy activity can be effectively used as a way affects the mental health and developing personality.

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Estimation of Genetic Variations and Selection of Superior Lines from Diallel Crosses in Layer Chicken (산란계종의 잡종강세 이용을 위한 유전학적 기초연구와 우량교배조합 선발에 관한 연구)

  • 오봉국;한재용;손시환;박태진
    • Korean Journal of Poultry Science
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    • v.13 no.1
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    • pp.1-14
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    • 1986
  • The subject of this study was to obtain some genetic information for developing superior layer chickens. Heterosis and combining ability effects were estimated with 5,759 progenies of full diallel crosses of 6 strains in White Leghorn. Fertility, hatchability, brooder-house viability, rearing- house viability, laying-house viability, age at 1st egg laying, body weight at 1st egg laying, average egg weight, hen-day egg production, hen-housed egg production, and feed conversion were investigated and analyzed into heterosis effect, general combining ability, specific combining ability and reciprocal effect by Grilling's model I. The results obtained were summarized as follows; 1. The general performance of each traits was 94.76% in fertility, 74.05% in hatchability, 97.47% in brooder-house viability, 99.72% in rearing-house viability, 93.81% in laying-house viability, 150 day in the age at 1st egg laying, 1,505g in the body weight at 1st egg laying, 60.08g in average egg weight, 77.11% in hen-day egg production, 269.8 eggs in hen-housed egg Production, and 2.44 in feed conversion. 2. The heterosis effects were estimated to -0.66%, 9.58%, 0.26%, 1.83%, -3.87%, 3.63%, 0.96%, 4.23%, 6.4%, and -0.8%, in fertility, hatchability, brooder-house viability, laying-house viability, the age at 1st egg laying, the body weight at 1st egg laying, average egg weight, hen-day egg Production, hen-housed egg production and feed conversion, respectively. 3. The results obtained from analysis of combining ability were as follows ; 1) Estimates of general combining ability, specific combining ability and reciprocal effects were not high in fertility. It was considered that fertility was mainly affected by environmental factors. In the hatchability, the general combining ability was more important than specific combining ability and reciprocal effects, and the superior strains were K and V which the additive genetic effects were very high. 2) In the brooder-house viability and laying-house viability, specific combining ability and reciprocal effects appeared to be important and the combinations of K${\times}$A and A${\times}$K were very superior. 3) In the feed conversion and average egg weight, general combining ability was more important compared with specific combining ability and reciprocal effects. On the basis of combining ability the superior strains were F, K and B in feed conversion, F and B in the average egg weight. 4) General combining ability, specific combining ability and reciprocal effects were important in the age at 1st egg laying and the combination of V ${\times}$F, F${\times}$K and B${\times}$F were very useful on the basis of these effects. In the body weight at 1st egg laying, general combining ability was more important than specific combining ability and reciprocal effects, relatively. The K, F and E strains were recommended to develop the light strain in the body weight at 1st egg laying. 5) General combining ability, specific combining ability and reciprocal effects were important in the hen-day egg production and hen-housed egg production. The combinations of F${\times}$K, A${\times}$K, and K${\times}$A were proper for developing these traits. 4. In general, high general combining ability effects were estimated for hatchability, body weight at 1st egg laying, average egg weight, hen-day egg production, hen-housed egg production, and feed conversion and high specific combining ability effects for brooder-house viability, laying house viability, age at 1st egg laying, hen-day egg production and hen-housed egg production, and high reciprocal effects for the age at 1st egg laying.

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Changes in Serum IGF-I and Spermatogenesis Analysed by Flow Cytometry in Growing Male Rabbit (성장 중인 수토끼에서 혈청 IGF-I 수준과 Flow Cytometry 측정에 의한 정자 형성의 변화)

  • Lee J. H.;Kim C. K.;Chang Y. M.;Ryu J. W.;Park M. Y.;Chung Y. C.;Pang M. G.
    • Reproductive and Developmental Biology
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    • v.29 no.3
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    • pp.163-168
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    • 2005
  • The aim of this study was to investigate the changes in insulin-like growth factor-I (IGF-I) and growth hormone (GH) in serum, the quantitation of spermato-genesis and the comparable relationships among these measurements during pubertal period in New Zealand White male rabbits. To investigate the age-related testicular changes in DNA contents of spermatogenic cells, the fine-needle testicular biopsies from males aged 10 to 28 wks were evaluated by flow cytometry(FCM). Body weight increased significantly between the ages of 12 and 20 wks (P<0.05) and reached 3.4 kg at 28 wks of age. The highest serum IGF-I level (451.3ng/mL) was observed at 20wks of age (P<0.05) and thereafter remained stable at low levels. Serum GH level at 18 wks of age was 183.3 pg/mL which was significantly higher compared to the other ages (P<0.05), and the rising time in serum GH tend to be somewhat earlier than that of IGF-I. The relative percentage of It-cells in testicular cell compartments was $48.2\%$ at the age of 18 wks which significantly increased than those of 16-wk-old (P<0.05) and thereafter increased with the advance of age to $68\%$. The percentage of 2C-cells in testis was $26.8\%$ at 18 wks of age which was significantly lower than $54.3\%$ at 16 wks old (P<0.05). The percentage of 4C-cells was constantly maintained $2\~6\%$ except the $9.9\%$ at 18 wks of age. In conclusion, the results suggest that the puberty onset occurred at about the 18 wks of age and that the IGF-I and GH in serum during the pubertal period showed the age/growth-specific changes and these changes might be related to the spermatogenesis. The DNA FCM combined with fine-needle testicular biopsy could offer a very sensitive method to monitor the quantitative spermatogenic events related to the puberty onset.

Rice Safety and Heavy Metal Contents in the Soil on "Top-Rice" Cultivation Area (탑라이스 생산지역 논토양 중 중금속 함량과 쌀의 안전성)

  • Park, Sang-Won;Yoon, Mi-Yeon;Kim, Jin-Kyoung;Park, Byung-Jun;Kim, Won-Il;Shin, Joung-Du;Kwon, Oh-Kyung;Chung, Duck-Hwa
    • Journal of Food Hygiene and Safety
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    • v.23 no.3
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    • pp.239-247
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    • 2008
  • Objective of this study was to investigate residual the levels of heavy metals in rice grain and soils of "Top-Rice" and common rice cultivation areas from 2005 to 2007. Soil and rice grain samples were taken from 33 "Top-rice" areas and neighboring paddies, and analyzed for the elements using ICP-OES and ICP-TOF-MS after acid digestion. A concentration of arsenic in paddy soil was 1.33 mg/kg which was below 1/5-1/11 fold of the threshold levels(concern: 4 mg/kg, action: 10 mg/kg), and paddy soil was 0.06 mg/kg of Cd(cadmium) being below 1/25-1/67 fold of the limits(concern: 1.5 mg/kg, action: 4 mg/kg). A level of Cu(copper) in paddy soil was 4.57 mg/kg which was below 1/11-1/27 fold of the threshold levels(concern: 50 mg/kg, action: 125 mg/kg), and Pb(lead) concentration in paddy soil was found to be a 4.68 mg/kg. In addition, Hg(mercury) concentration in paddy soil was to be a 0.03 mg/kg, which was below 1/131-1/328 fold of the threshold levels(concern: 4 mg/kg, action: 10 mg/kg). The average concentrations of As, Cd, Cu, Pb and Hg in the polished rice samples were 0.037, 0.043, 0.280, 0.048 and 0.002 mg/kg, respectively. These levels are lower than those of other countries in rice grains. Assuming the rice consumption of 205.7 g/day by total dietary supplements in Korea, the amount of total weekly metal intake of As, Cd, Cu, Pb and Hg by polished rice were estimated to be 0.0892, 1.035, 6.712, 1.161 and 0.054 ${\mu}g/kg$ body weigh/week, respectively. The PTWI(%) of As, Cd, Cu, Pb and Hg were 5.95(inorganic arsenic), 0.26(total arsenic), 14.79, 0.19, 4.65 and 1.07% estimated to be 0.0892, 1.035, 6.712, 1.161 and 0.054 ${\mu}g/kg$ body weigh/week, respectively. In conclusion, it was appeared that the heavy metals contamination in the brown and polished rice should not be worried in Korea.

Comparative analysis of food intake according to the family type of elderly women in Seoul area (서울 일부지역 여자 노인들의 가구유형에 따른 영양소 섭취실태 및 식사의 질 평가)

  • Lee, Yeon Joo;Kwon, Min Kyung;Baek, Hee Joon;Lee, Sang Sun
    • Journal of Nutrition and Health
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    • v.48 no.3
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    • pp.277-288
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    • 2015
  • Purpose: As the rate of senior citizens living alone increases in the current aging society, there is much concern regarding the health and nutritional intake of solitary senior citizens. Therefore, this study compared the nutritional intake of senior citizens according to their family type. Methods: In July and August of 2011, two senior citizen welfare centers in Seoul were visited to survey 267 elderly women. Excluding 54 subjects for which the data were incomplete, information from 213 subjects was analyzed. The subjects were divided into three family types, living alone (LA, n = 74), living with spouse (LS, n = 78), and living with children (LC, n = 61). Results: The mean age of the LA group was the highest, while the mean age of the LS group was the lowest (p < 0.001), and WHR of the LC group was the highest (p = 0.049). Income was the highest in the LS group (p < 0.001). Frequency of eating out was the lowest in the LA group (p = 0.031). By Duncan's multiple analysis, the amounts of energy intake, vegetable protein, fat, calcium, phosphorus, potassium, selenium, Vit D, Vit E, $Vit\;B_2$, niacin, $Vit\;B_6$, $Vit\;B_{12}$, and cholesterol were significantly higher in the LS group compared with the LA or LC group (p < 0.05). The intakes of calcium, Vit D, $Vit\;B_{12}$, and cholesterol were still significantly different among the three groups, even after adjustment for age and monthly income. The LA group ate less fruit and fish than the LS or LC group (p < 0.05). The LA group showed the lowest dietary diversity and the LS group showed the highest diversity (p = 0.014), however, the significance of dietary diversity score among the three groups disappeared after adjustment for age and monthly income. Conclusion: Elderly women living with spouse were receiving better nutrition than elderly women living alone or living with children. Therefore, solitary elderly women who do not live with their spouse or children should be offered greater opportunities to receive a balanced meal at a congregational kitchen or welfare center. To ensure their healthy diet, it is essential to provide continuous nutrition education with these groups in mind.