• Journal of Navigation and Port Research
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• v.28 no.8
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• pp.687-697
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• 2004

This paper is aimed to guide ocean-going companies to reasonable decisions and to increase the competitiveness of Korean shipping industry by clarifying the determinants of political costs of ocean-going companies, which only depend for the enormous amount of money to introduce the operating fixed assets, or the vessels, upon the supporting policy from the government or the loan from the related financial institutions. As independent variables of the political costs, 5 elements were settled such as company size(sales, total assets and market share), debit ratio, capital concentration ratio, profitability(operating profit) and marine risk(sales fluctuation). To verify the relations and the effect level between dependent variables and political costs, the Multiple Regression Analysis Model was applied The result of the analysis shows significantly positive relations between size variables and political cost of shipping industry. Moreover, debt ratio and profitability were proved significant related with political costs of shipping industry.

• Asian-Australasian Journal of Animal Sciences
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• v.15 no.4
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• pp.596-601
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• 2002

The present study was designed to examine the effect of ozone treatment in microencapsulated ${\beta}$-galactosidase on inactivation of the enzyme and sterilization of microorganism. The efficiency was the highest as 78.4% when the ratio of polyglycerol monostearate (PGMS) was 15:1. Activities of lactase remaining outside the capsule were affected by ozone treatment. With the increase of ozone concentration and duration of ozone treatment, the activity reduced significantly. In sensory aspect, with 2% microcapsule addition, no significant difference in sweetness was found compared with a market milk during 12 d storage. Above result indicated that the additional washing process of lactase was not necessary to inactivate the residual enzyme. In a subsequent study, the vegetative cells of microorganisms were completely killed with 10 ppm for 10 min treatment by ozone. The present study provides evidence that ozone treatment can be used as an inactivation and a sterilization process. In addition, these results suggest that acceptable milk products containing lactase microcapsules made by PGMS can be prepared with ozone treatment.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.9
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• pp.189-199
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• 2021

This study attempts to examine the relationship between corporate social responsibility (CSR) disclosure and earnings management practices in the context of Saudi Arabia after mandatory IFRS adoption. It is carried out on an unbalanced panel of 277 observations over the period 2017-2019. For this purpose, CSR disclosure is measured by Bloomberg ESG scores, while the residuals from the modified Jones model are considered for earnings management. As control variables, we have retained the firm performance, market-to-book ratio, firm size, financial leverage, board independence, ownership concentration, managerial ownership, and lagged discretionary accruals. Using the system GMM estimator in the dynamic panel, the results show a positive association between CSR disclosure and earnings management practices, thus supporting the perspective of agency theory. Managers engage in socially responsible activities beforehand to conceal their wrongdoing and convince stakeholders that the organization is transparent. They probably use ethical codes as a tool to achieve their own goals rather than the firm's goals. Our contribution is the use of recent data (2017-2019) taking into account the mandatory adoption of IFRS in Saudi Arabia. Additionally, to our knowledge, this study is the first to address CSR disclosure and earnings management practices using GMM system estimates.

• Asian-Australasian Journal of Animal Sciences
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• v.14 no.5
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• pp.668-676
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• 2001

Two growth performance experiments were undertaken in order to compare the nutritional benefit of micronized dehulled barley (MDB) with wheat and maize. In the first experiment, ninety-six 24 d old Cotswold pigs with an average body weight of 9.5 kg were randomly allotted into one of four dietary treatments. The wheat and MDB ratio in the four complex diets were 100% wheat, 75% wheat+25% MDB, 50% wheat+50% MDB and 100% MDB; cereal was about 47% of the whole diet and varied by using different ratios of wheat and MDB. Starter phase was started at a bodyweight 9.9 kg; grower phase continued at liveweight 37.1 kg and finished at 74.0 kg. The ADFI, ADG and feed efficiency (F/G) were not affected (p>0.05) by the level of MDB in the diet from 9.9 to 37.1 kg live weight. However, ADFI was (p<0.05) less (14%) for the pigs fed the 75 or 100% of MDB based diets without affecting F/G during the second phase (37.1 to 74.0 kg live weight). Pigs fed the MDB based diet had a lower (p<0.05) plasma urea nitrogen (PUN) concentration than the pigs fed the wheat-based diet. In the second experiment, the trial started at 9.9 kg body weight and ended at market weight (107.6 kg), with three different phases in the trial. One hundred and twenty Cotswold pigs were randomly assigned to one of three dietary treatments. The maize and MDB ratio in the three diets were 100% maize, 50% maize+50% MDB and 100% MDB. Diet treatments did not affect (p>0.05) growth performance, PUN level, carcass characteristics and organ size, except for an improvement (p<0.05) in ADG for the pigs in the starter phase fed 50% and 100% MDB based diets.

• Weed & Turfgrass Science
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• v.7 no.2
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• pp.130-139
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• 2018

The colors of packaging of herbicides and non-selective herbicides on the market in Korea are defined as brown and red, respectively, according to the notification of RDA. The present study aimed to understand consumer's electroencephalographic (EEG) response when looking at brown and red colors of herbicide and non-selective herbicide packaging papers. The EEG cap was placed on the scalp of each participant (men and women, 10 to 20 years old) and white (control) - brown - white - red colors were sequentially displayed for 5 seconds using the computer monitor. The EEG was measured and statistical analysis was performed using SPSS. For the brown color of the herbicide, men showed a decrease in concentration and a distracting response due to a decrease in the ratio of mid beta to theta (RMT) and the spectral edge of frequency (SEF90). In women, an increase in the ratio of SMR to theta (RSMT) and the spectral edge frequency 50% of the alpha (ASEF) was observed in different brain regions and these EEG changes may enhance the relaxation, stabilization and awakening states of the brain. For the red color of the non-selective herbicide, ASEF increased psychological stability in men. In women, a decrease in absolute high beta (AHB) may associate with a decrease in attention state of the brain. Overall data of the present study clearly revealed that the colors of two herbicides showed significantly different EEG response and gender difference.

• The Journal of Society for e-Business Studies
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• v.26 no.3
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• pp.33-53
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• 2021

In the crossroads of social change caused by the spread of the Fourth Industrial Revolution and the prolonged COVID-19, the Korean government announced the Digital New Deal policy on July 14, 2020. The Digital New Deal policy's primary goal is to create new businesses by accelerating digital transformation in the public sector and industries around data, networks, and artificial intelligence technologies. However, in a rapidly changing social environment, information asymmetry of the future benefits of technology can cause differences in the public's ability to analyze the direction and effectiveness of policies, resulting in uncertainty about the practical effects of policies. On the other hand, the media leads the formation of discourse through communicators' role to disseminate government policies to the public and provides knowledge about specific issues through the news. In other words, as the media coverage of a particular policy increases, the issue concentration increases, which also affects public decision-making. Therefore, the purpose of this study is to verify the dynamic relationship between the media coverage and the stock market on the Korean government's digital New Deal policy using Granger causality, impulse response functions, and variance decomposition analysis. To this end, the daily stock turnover ratio, daily price-earnings ratio, and EWMA volatility of digital technology-based companies related to the digital new deal policy among KOSDAQ listed companies were set as variables. As a result, keyword search volume, daily stock turnover ratio, EWMA volatility have a bi-directional Granger causal relationship with media coverage. And an increase in media coverage has a high impact on keyword search volume on digital new deal policies. Also, the impulse response analysis on media coverage showed a sharp drop in EWMA volatility. The influence gradually increased over time and played a role in mitigating stock market volatility. Based on this study's findings, the amount of media coverage of digital new deals policy has a significant dynamic relationship with the stock market.

• Journal of Fashion Business
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• v.6 no.1
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• pp.137-154
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• 2002

It's not easy to renew old brand of over 50 years history to the tastes of new consumer of our time. Most of national brands that has a history of some 20 years in Korea have strove for continuation and growth of brand to no avails, which can be taken as a good example of current situation. For instance, C company, one of the National brand of US which has a history of 51 years, has made its position secure as a fashion group and based itself on a sound foundation by establishing new marketing strategy and completing successful brand renewal in the process of strategic M&A with Italian company. Those successful marketing strategies are as follows. 1) they regarded both market and consumer oriented marketing activity as company's highest priority strategy and put great emphasis upon concentration on target market and reestablishment of brand image of business casual wear. 2) Setting up and operating planning team composed of merchandizer alone in Milano, they set the direction of plan on the basis of concentrated research on potential item in market according to thorough market research done by buying office in Korea, branch office in Hong Kong and buyer in US prior to blueprint planning for season. 3) Great emphasis was placed on business which focused on intensive presentation of basic key item for apparel career women who are main consumer group in the midium-low prices market in US and on supplementation of size and color. they named this line 'collectibles' and helped their customer develop their own clothes plan without worrying about the change of color and fabric by supporting same fabric and color throughout the year and enabled them to add variation easily by supplementing new trend item. 4) Company set black as a main color that lots of apparel career women find easy to care and to express their own image and presented them with pebble which belongs to navy and beige and added fashion color such as wine and brown etc as season goes by. They constructed basic line in order for their customers to coordinate purchased item with new one or to add them to present collection, and to achieve efficient sale by setting up strategy which allows this cross coordination and changing pattern occasionally. 5) Though basic jacket for 99$, short slim skirt for 49$ are products within midium-low prices range, in the material planning stage aiming at production of item that has both resonable function appealing to consumer and is fashionable, synthetic material had to be used as a main source due to price competitiveness. Despite this situation, considering comfortable sense of fit and refined drape of silhouette that has no sign of cheap material, whole collectible line was divided into two items, which contributed to reduction of cost. In case of material that is composed of triacetate and polyester in 70 to 30 ratio, was used up to 4 million yard, which allowed drastic curtailment of cost accompanied by concentration. In case of 'collectibles' line, using Korean material mainly, C company chose to have their product sewed in Southeast Asian countries where transportation is well developed and both productivity and quality verified by operating global production system which aiming at cutdown of cost through outsourcing production from the country where labor cost is low and getting finished product. Polarization between present consumers telling us that consumers with the mind of middle classes in the past no longer exists between consumers who seek after only fine article of highest quality and wise consumers who are sensible enough to judge bubble on correlation between price and quality. To cope with this change in new consumer mind, apparel makes changing their policy so as to produce item that has reasonable quality and falls within affordable price range anywhere in the world. and they're striving to get out of difficult situation by operating global marketing strategy which stresses separation of planning, production and sale and sensibility of fashion shared worldwide. The marketing strategy of C company can be exemplified as a successful one.

• Korean Journal of Food Science and Technology
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• v.41 no.6
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• pp.609-614
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• 2009

Sesame oil was sometimes replaced by mixed oil due to high price in Korean market. To find out authentic sesame oil, electronic nose (E-nose) based on mass spectrometer system was used. Sesame oil was blended with perilla oil at the ratio of 97:3, 94:6, 91:9, 88:12 and 85:15, respectively. Intensities of each fragment from sesame oil by E-nose based on MS were completely different from those of perilla oil. The obtained data was used for discriminant function analysis. For quantitative analysis, the partial least square algorithm was used. The added concentration of perilla oil to sesame oil was correlated with discriminant function first score (DF1) and second score (DF2). From this relationship it could be found out how much perilla oil added. DFA plot indicated a significant separation of pure sesame oil and pure perilla oil. The different geographical origin of sesame oil was used for blending with perilla oil were closed to that of sesame oil. Korean sesame oil mixture and Indian sesame oil one were well separated. And the correlation between mixing ratios and DF1 values was found at the ratio of 97:3, 91:9, and 85:15 (SE vs PE oil), respectively. But the added concentration of perilla oil to sesame oil was correlated with discriminant function first score (DF1). E-nose based on MS system could be used as an efficient method for purity of oil quality.

• KDI Journal of Economic Policy
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• v.12 no.3
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• pp.153-172
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• 1990

The present paper investigates the potential value of strategic antitrust policy in an oligopolistic international market. The market is characterized by a non-cooperative Cournot-Nash equilibrium and by asymmetry in costs among firms in the world market. The model is useful for two reasons. First, it is important in the context of policy-making to examine the conditions under which it may be beneficial to relax antitrust law to enhance competitiveness. Second, the explicit derivation of the level of cost-saving required for a gain in total domestic surplus provides an empirical rule for excluding industries that do not satisfy the requirements for a socially beneficial antitrust exemption. Results of the analysis include a criterion that tells how the cost-saving and concentration effects of a merger offset each other. The criterion is derived from fairly general assumptions on demand functions and is simple enough to be applied as a part of the merger guidelines. Another interesting policy implication of our analysis is that promoting mergers would not be a beneficial strategy in a net importing industry where cost-saving opportunities are thin. Cost-saving domestic mergers are more likely to increase national welfare in exporting industries. The best candidate industries for application of strategic antitrust policy are those with the following characteristics: (i) a large potential for efficiency enhancement; (ii) high market concentration at the world but not the domestic level; (iii) a high ratio of exports to imports. Recently, many policymakers and economists in Korea have also come to believe that the appropriate antitrust policy in an era of increased foreign competition may actually be to encourage rather than to prohibit domestic mergers. The Industry Development Act of 1986 and the proposed bill for Mergers and Conversions in the Financial Industry of 1990 reflect this changing perspective on antitrust policy. Antitrust laws may burden domestic firms in the sense that they have a more constrained strategy set. Expenditures to avoid antitrust attacks could also increase costs for domestic firms. But there is no clear evidence that the impact of antitrust policy is significant enough to harm the competitiveness of domestic firms. As a matter of fact, it is necessary for domestic financial institutions to become large in scale in this era of globalization. However, the absence of empirical evidence for efficiency enhancement from mergers suggests caution in the relaxation of antitrust standards.

• Korean Journal of Food Science and Technology
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• v.6 no.2
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• pp.116-123
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• 1974

1) In Seoul, it was known that the season for preparing Kimchies (fermented vegetables) for the winter was from the middle of November to early in December, in which the preparing rates of Kimchies in the middle of November, the end of November and early in December were 32.7%, 41.3% and 12.5%, respectively. The time that the largest quantity of them was prepared was about the end of November. 2) The average cost of Kimchies prepared for the winter for a family of four, five, six and seven was $10,000{\sim}15,000$ Won, $15,100{\sim}20,000$ Won, $10,100{\sim}20,000$ Won and $10,100{\sim}20,000$ Won, respectively, and the cost did not increase in proportion to members of a family. In case of the family of $6{\sim}7$, the cost for Kimchies showed a wide range compared with those for the family of $4{\sim}5$ 3) The main raw materials of kimchi for one person for the winter required $12{\sim}20$ heads of Chinese cabbages, $14{\sim}20$ roots of radishes, $4{\sim}7$ cloves of garlics and $300{\sim}500g$ of powdered red pepper. 4) The residents living in Seoul had prepared the several kinds of the pickles for the winter as follows; (1) Chinese cabbage Kimchi (98.9%), (2) Whole Chinese cabbage Kimchi (74.7%), (3) Kkakdugi (68.6%), (4) Dongchimi (66.4%) and (5) Chong-kak Kimchi (63.3%). It has, therefore. been considered that the five kinds of Kimchies mentioned above may be industrialized. 5) Uniqueness of the raw materials used for the most popular Chinese cabbage Kimchi was to use leeks, garlics, red peppers and gingers as spices, and it was also known that proper amounts of salted shrimp pickles and oysters was mixed to the Kimchies. Therefore, it had been considered that the characteristics of Chinese cabbage Kimchies for the winter had the hot taste with freshness. 6) For keeping the Kimchies during the winter about the half of the pickle jars was buried in the ground, and another half of them were wrapped in the straw bags or styropol and they were placed on the ground or kept in the basement, 7) In most case (80.9%), the salt concentration of pickling was adjusted by one's experiences, and only 19% of them was measured with the instruments. 8) Most of remaining kimchies were usually used for other cooks, but some of them were thrown away. 9) The ratio of the people who had ever bought the market Kimchies for their own edibility was 17.8% and most of them got it only in the spring and summer season. 10) About 18% of the residents living in the general houses in Seoul had ever bought the market Kimchies. It was also known that about 48% of the residents living in the general houses and about 79% of the residents living in the apartments wanted to purchase the market Kimchies if the production of the delicious Kimchies were industrialized. The season that the people wanted to get the market Kimchies was a little different each other among the residents. About 13.4% of the residents living in the general houses wanted to purchase the Kimchies during the summer, and 11.9% of them wanted to get it throughout the year. On the other hand, in case of the apartments, 25.2% of the residents wanted to get it during the summer and 24.4% of them wanted it throughout the year (4 seasons) and 19.9% of them wanted it during two seasons. The data mentioned above have shown that many residents hope strongly an industrial production of the Kimchies. It is also true that many residents living in both the general houses and apartments want to get the market kimchies throughout the year, and particulary during the summer season that most foods are very apt to be spoiled.