• Journal of Distribution Science
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• v.12 no.10
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• pp.75-84
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• 2014

Purpose - This article aims to examine whether the stock issuance of firms in the retail industry follows Myers' (1984) pecking order theory, which is based on information asymmetry. According to the pecking order model, firms have a sequence of financing decisions, of which the first choice is to use retained earnings, the second one is to get into safe debt, the next involves risky debt, and the last involves finance with outside equity. Since the 2000s, the polarization of the LEs (Large enterprises) and SMEs (Small and Medium Enterprises) arose in the retail industry. The LEs exhibited an improvement in growth and profitability, whereas SMEs had a tendency to degenerate. This study contributes to corroborating the features of financing decisions in the retail industry distinguished from the other industries. Research design, data, and methodology - This study considers the stocks listed on the KOSPI and KOSDAQ markets from 1991 to 2013, and is more concentrated on the stocks in the retail industry. The data were collected from the financial information company, WISEfn. The empirical analysis is conducted by employing two measures of net equity issues (and), which were introduced in Fama and French (2005), and can be calculated from firms' accounting information. All variables are generated as the aggregate value of the numerator divided by aggregate assets, which, in effect, treats the entire sample as a single firm. Substantially, the financing decisions of the firms were analyzed by examining how often and under what circumstances firms issue and repurchase equity. Then, this study compares the features of the retail industry with those of the other industries. Results - The proportion of sample firms that show annual net stock issues reaching the level of the year's average was 54.33% for the 1990s, and fell to 39.93% per year for the 2000s. In detail, the fraction of the small firms actually increases from 45.08% to 51.04%, whereas that of large firms shows a dramatic decline from 58.94% to 24.76%. Considering the fact that the large firms' rapid increase in growth after the 2000s may lead to an increase in equity issues, this result is rather surprising. Meanwhile, net stock repurchases of assets are considerably disproportionate between the large (-50.11%) and the small firms (-15.66%) for the 2000s. Conclusions - Stock issuance of retail firms is not in line with the traditional seasoned equity offering based on information asymmetry. The net stock issuance of the small firms in the retail industry can be interpreted as part of an effort to reorganize business and solicit new investment to resolve degenerating business performance. For large firms, on the other hand, the net repurchase can be regarded as part of an effort to rearrange business for efficiency and amplifying synergy across business sections through spin-off. These results can help the government establish a support policy on retail industry according to size.

• The Journal of the Korea Contents Association
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• v.9 no.11
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• pp.407-415
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• 2009

In this research, to identify the degree of preference and participation in leisure sports, over 19-year-old adults living in the capital region were collected as subjects, and among them, 250 persons were chosen by purposive sampling method. Using SPSSWIN 16.0, I analyzed the collected data by reliability analysis, paired sample t-test, PPA(preference performance analysis) method. The conclusion is the following. First, the first quadrant showed wind surfing, skins-cuba, water-ski, and yacht, and as a result of this, it is necessary to improve the degree of participation in this field, the second quadrant showed golf, racketball snow board, ski, fishing, and climbing, and these field need to specific attention to maintain continuous attention, for they have a great deal of attendance, the third quadrant, showed water sleigh, cart, balloon, sky-diving, orienteering, hang gliding, model plane, and survival game. As the degree of preference and participation in these sports is low, it is recommended that more effort should be made for these sports. Finally, in the forth quadrant, there are tracking, mountain bike, inline skates, rafting, and cycling. As it's the participation is high, while that of preference is low, it is important to maintain the policy of the participation in leisure sports. Sencondly, the degree of preference and participation in leisure sport activicties acording to socio demographic characteristics differentiate.

• The Journal of the Korea Contents Association
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• v.16 no.9
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• pp.443-450
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• 2016

Korean biopharmaceutical industry is a high value-added industries of the country as a key business strategy of the country. The overseas market is accelerating rapidly due to drug demand according to population aging, new drug R&D investment performance visualization, changes in biopharmaceutical R&D center, strategic foreign technology exports, and the active support of government. Therefore, the domestic pharmaceutical companies also should enhance the competitiveness as global pharmaceutical companies and need to build the image of their own company that can be trusted by consumers. This study compared and analyzed visual characteristics shown in the CI symbol mark and age-specific preferences of domestic pharmaceutical companies recognizing the importance of CI as a marketing tool. As a result, preference for the symbol mark had been shown to be significantly higher preference of the old logotype as the age group is higher being proportional to awareness. In addition, the picture-type symbol mark was totally preferred rather than the word mark. Among the picture-type symbol mark, the form of the nature was strongly preferred rather than abstract form. The company also requires a sense of responsibility for recognizing changes in the mass to the globalization. It is hoped that this study will help to develop symbol mark direction as the basis for the identity strategies to improve the image of domestic pharmaceutical companies with global competitiveness.

• Korean Chemical Engineering Research
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• v.48 no.3
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• pp.342-349
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• 2010

Lactic acid is widely used in the food, chemical and pharmaceutical industries, and there is an increasing demand for lactic acid as the raw material of poly lactic acid(PLA), which is a biodegradable polymer. Lactic acid production has been changing over from production by synthesis to production by fermentation, since the fermentation process is more nature friendly and economic. However, the fermentation method generates excess water and impurities with high boilers. The presence of high boilers and non volatility of lactic acid makes the separation of lactic acid very difficult job. Also, the purification-separation process requires the many investment costs and energy costs. Reactive distillation concept was also introduced for the process, giving higher selectivity and yield compared to the convention method. We introduce a new highly integrated process, reactive diving wall column, to reduce the capital and energy cost for producing a pure lactic acid. The reactive dividing wall column combines reactive distillation and dividing wall column. We compared capital and energy consumption required for the purification of lactic acid the between the proposed design structures. And we examined the effect of major process variables on the process performance and determined optimal process.

• KDI Journal of Economic Policy
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• v.30 no.1
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• pp.33-70
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• 2008

This paper examines sources of growth of Korea's economy for the period from 1980 to 2005, based on both primal and dual growth accounting methodology employed by Young (1995) and Hsieh (2002). Also, this paper evaluates post-crisis growth performance of Korea, using cross-country comparison of growth accounting results and cross-country regressions. Main results of this paper are as follows. First, the growth slowdown after the crisis has been mainly driven by the slowdown of per worker capital accumulation. By contrast, the estimated TFPG of Korea for the period from 2001 to 2005 seems higher than, or at least roughly comparable to, the estimated TFPG in the pre-crisis period of 1991-1995. In theses respects, there were no substantial differences between the results obtained from primal and dual growth accounting methodology. Second, the cross-country regressions revealthat post-crisis growth slowdown of the Korea's economy can be largely attributed to world growth slowdown (decade effect) and East Asia-specific effects. In particular, it was found that the noticeable decelerationin per worker capital accumulation can be mostly attributed to some unknown factors which commonly affected East Asian countries. Viewed from an international perspective, the lowered post-crisis per worker GDP growth rate, as well as per-worker capital growth, which triggered concerns and debates in varying contexts, still seems respectable. So, the slowdown in capital accumulation is likely to be mainly a story of spectacularly high rate of capital accumulation in the pre-crisis period, not a story of 'weak' investment after the crisis.

• International Commerce and Information Review
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• v.9 no.1
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• pp.403-425
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• 2007

The sudden emergence of China as a superpower in world politics and economics is apparently a big surprise. This, however, is not an unusual incident. As far as the Chinese are concerned, they say that China is simply running almost the same track that its neighboring countries. In the recent years, a number of experts and scholars have expected that the emergence of China as a great economic power will be argued as a major issue in world politics and economics. So its economic progress will require experts and scholars to watch carefully how China is going to change. It certainly has created an atmosphere that most of the world leaders, experts and scholars are very concerned about China's remarkable performance in its economics and then willing to accept China's rapid growth as an urgent matter. Many experts and scholars began to analyze carefully the factors that have contributed to the rapid growth. Foreign direct investment (FDI), import-export, and economic reform were then listed as the most important factors. As a result, philosophy of economics, analytical economics, and economics are immediately needed for China who is at the moment very anxious to sustain the stable and continuity of rapid economic growth. But unfortunately China does not even recognize the reason why they need to adopt these economic concepts and methods.

• Applied Chemistry for Engineering
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• v.24 no.5
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• pp.456-470
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• 2013

Hollow-fiber membranes, is one of the new technologies that is growing rapidly in the past few decades. In addition, separation membranes using polymer materials, have attracted attentions in various fields including gas separation, fuel cells, water treatment, wastewater treatment, and organic separation. Nanofiltration (NF) membranes having the separation characteristics in the intermediate range between ultrafiltration and reverse osmosis (RO) membranes for liquid separation, with relatively low investment cost and operating pressure lower than that of RO membranes, have high permeance and rejection performance of multivalent ions as well as organic compounds of molecular weight between $200{\sim}1000gmol^{-1}$. In this paper, we would like to review the research trends on the various structure control and characterization of NF hollow fiber membranes with respect to materials and the methods of preparation (phase inversion method and interfacial polymerization method). Currently, most of NF membranes have been manufactured by plate and frame types or spiral wound types. But hollow fiber types have delayed in commercial products, because of the weak strength when to produce on the basis of the existing materials, therefore the development of new materials or improvement of existing materials will be needed. If improving manufacturing technology is available, hollow fiber types will replace spiral wound types and gradually show a higher market share.

• Journal of Digital Contents Society
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• v.10 no.4
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• pp.639-648
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• 2009

Earth's environment issues are introduced recently and every year the social loss have been occurred by the impact of various disaster. This kind of disaster and weather problems are the increasing reason of electricity transmission network equipment's failures because of exposing by the natural environment. The emergency and abnormal status of electricity equipment make the power outage of manufacturing plant and discomfort of people's lives. So, to protect the electricity equipment from the natural disasters and to supply the power to customer as stable, the supporting systems are required. In this paper, the research results are described the development process and the outcomes of the real-time natural disaster failure analysis information system including the describing about the impact of disaster and weather change, making the natural weather information, and linking the realtime monitoring system. As of development process, according to application development methodology, techniques are enumerated including the real time interface with related systems, the analysing the geographic information on the digital map using GIS application technology to extract the malfunction equipment potentially and to manage the equipments efficiently. Through this system makes remarkable performance it minimize the failures of the equipments, the increasing the efficiency of the equipment operation, the support of scientific information related on the mid-term enhancement plan, the savings on equipment investment, the quality upgrading of electricity supply, and the various supports in the field.

• Journal of the Korea Society of Computer and Information
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• v.17 no.10
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• pp.185-192
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• 2012

Call Center requires an ability of agents a lot more than face-to-face contact due to being achieved communication by non face-to face channel for contact with customers. In order to improve the ability of agents, Call Center carries out various educational training according to their work experience and function and with the accomplishment of educational training, Call Center is going to fulfill to develop its quality of counseling and productivity. On the other hand, due to investment of a lot of time and budget to educational training, it is needed to grasp and manage about its effectiveness that how helpful the training is for performance of work-site operations through evaluation of educational training. Having Seen researches about evaluation of educational training until these days, most researches have mainstream to measure satisfaction and a level of learning or degree that how the learning transfers to actions. It is found that a research about an entire evaluation model should be required. This study aims to investigate effectiveness of Call Center educational training from the level of recognition by reflecting Kirkpatrick's the four levels of learning evaluation. By the four levels, reaction, learning, behavior and results, the study found out a connection with standards of evaluation about each levels. In addition, by using structural equation modeling, it was examined goodness of fit about the entire model. Furthermore, by an alternative model, considering a direct relation between a factor of reaction and behavior, it was compared and examined goodness of fit of overall model of the study model and the alternative one.

• Journal of Digital Convergence
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• v.15 no.8
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• pp.103-114
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• 2017

With the development of IT technology and the establishment of logistics infrastructure, online shopping market and online fresh food market are growing. The purpose of this study is to find a plan to activate Fresh Logistics through online shopping mall using BCG matrix and Importance Performance Analysis for online shopping companies. Firstly, the BCG matrix results Companies in 'cash cow', 'question mark', and 'dog' areas are in need of improvement. In order to improve this situation, it is necessary to activate the Fresh logistics market which is currently growing. Fresh logistics can be activated by investing in the maintenance and strengthening areas and key investment areas by minimizing the expenditure on the non-priority and excess areas according to the results of IPA. Therefore, it is expected that online shopping companies will be improved by activating online shopping market and online fresh logistics market.