• The Journal of Economics, Marketing and Management
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• v.4 no.4
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• pp.1-16
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• 2016

In today's knowledge-based economy, measurement and disclosure (M&D) of intellectual capital (IC) are crucial for enhancing business performance and competitiveness. In the global world, M&D of IC are useful means to keep investors well-informed and reduce information asymmetry. At present, very few leading corporations in India have disclosed IC information on a 'voluntary' basis. Traditional accounting practices, therefore, will need to assimilate innovations that seek to meaningfully represent the 'true-value' of the intangible assets of the company. This is an exploratory study of IC M&D by 8 Indian companies over 5-year period, using 'content' analysis and market-value-added (MVA) as research methodologies. The annual reports of companies were collected from their respective websites. As part of present study, various statistical techniques have been used to analyze the data. The findings show that the sample companies, on an average, reported a positive value of IC, along with wide-disparity, low-level of ICD. Unfortunately, the omission of IC information may adversely influence the quality of decisions made by shareholders, or lead to material misstatements. Finally, we recommend to "the international accounting bodies, to take the lead by establishing a harmonized ICD standard, and provide guidance to the big listed-companies for proper measurement and disclosure of IC, both for internal and external users."

• Journal of Fisheries and Marine Sciences Education
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• v.21 no.2
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• pp.306-324
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• 2009

The purpose of this study is to analyze green growth issues such as employment, education and training, social capital and nature's standing right from the complementary perspective between natural environment conservation and economic growth. Green growth can be defined as a growth which lowers an increasing rate of entropy and at the same time improves our living standard. Green growth paradigm requires a quite amount of understanding the laws of thermodynamics and the uncertainty principle as the highest orders which regulate our overall socio-economic behaviors. They suggest that socio-economic growth is a mere transformation process of natural energy from one form to another and they increases natural manmade entropy over time. The most important issue of green growth policy may be a problem concerning employment and/or unemployment since green growth may induce inevitable movement of resources from the existing industries to the green sector. In particular, green industries will demand more highly specialized manpower than the existing ones. Without a well-designed new training education system and social capital accumulation toward environmental concerns, green growth may accompany a substantial amount of structural involuntary frictional unemployment. This may increase not only wealth-distribution disparity but also political instability. In order to achieve harmonious green growth, we should recognize that there are important complementary relationships between green and growth. Our society should also be able to innovate the existing educational system to accumulate social capital, to create a new sharing system, and to admit nature's standing right. Although the 2003 lawsuit case of Korean Salamander in Cheonseong Mountain went against plaintiff, it would provide apparently our society with a way of green development ahead.

• East Asian Economic Review
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• v.17 no.2
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• pp.161-206
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• 2013

Since the global financial crisis in 2008, the world economy has been suffering from the Great Recession characterized by high and persistent unemployment as well as drastic fall in asset prices. Real business cycle theory or new-Keynesian economics which has been the dominant paradigm in macroeconomics for the last four decades is unable to explain the high and persistent unemployment during the Great Recession. This implies that the economics of Keynes should be taken seriously again as a tool to explain the Great Recession. Farmer (2012) proposes a new way of interpreting the economics of Keynes by providing it with a solid micro-foundation based on labor markets with search. According to Farmer (2012), aggregate economic activity independently depends on the long-term self-fulfilling expectations about the stock prices. As a consequence, the government or the central bank should implement a policy that influences the public's confidence about the stock market. For an open economy like the Korean economy, it is not only stock price but also the price of asset such as house that matters more for the aggregate economic activity. Households in the Korean economy hold more than 70 percent of their wealth in the form of real estate asset, especially housing asset. This makes the public's confidence about the future prices of houses even more important in explaining the business cycles of the Korean economy. Policymakers should implement policies to improve the confidence of households about the housing market to recover from the recession caused by a fall in house prices. Little theoretical work has been done in explaining fluctuations in the aggregate economic activity from the point of house prices. This paper develops a small open economy model with traded and non-traded capital based on Farmer (2012) and shows that the aggregate economic activity also independently depends on the households' self-fulfilling expectations about the future prices of non-traded asset such as houses.

• Journal of Fashion Business
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• v.10 no.2
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• pp.99-116
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• 2006

This study was aimed at giving help to the people intending to change their hair fashion feeling for changing their own hair colour design and also providing the guide line to the cosmetic circles for developing new hair colour design and promoting sales by statistically analyzing hair colours and the other factors(demographic characteristics, hair styling, total fashion feeling, hair style) of capital area women in their twenties based on the theoretical study on tatal fasion feeling & hair fashion feeling, and hair trend. The researching methods were composed of prior theoretical research, statistical analysis. The prior theoretical research was accomplished by analysis of literatures, magazines and internet sites about total & hair fashion feelings and hair trend. The statistical analysis used a questionnaire composed of 33 questions in 5 categories. The survey of the questionnaire had been conducted from June 15 to June 28 in 2005 on the 600 women in the capital area, investigated by a group of experts on cosmetics or clothing from academic or business society. The analysis of materials from the survey was done by SPSS program(ver. 12.0) using frequency analysis, $x^2$-test and cross tabulation analysis specified on high significant values. Based on the above results of $x^2$-test and cross tabulation analysis, categorized the characteristics of the hair fashion feeling groups, especially hair colours in the order of percentage. This study would be very helpful to the people trying to change their own hair fashion feeling and be useful to the cosmetic circles for developing new hair colour design and promoting sales by comprehending hair colour market and also be valuable to develop the analysis methodology of hair colour and hair fashion trend.

• The Southeast Asian review
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• v.23 no.3
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• pp.93-134
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• 2013

This paper examines the formation and evolution of Chinese society in Penang over 155 years. Since it was ruled by the British in 1786, many immigrants gathered in Penang. Among them, much of the population was Chinese. It could be offered to clarify the historical process of the development of Chinese society in Penang by paying attention to the three items - opium, tin, and rubber. All the conflict and friction over these products were main causes of prosperity and decay for the Chinese society in Penang. In the early 19th century, the Chinese colossus could get their capital accumulation by taking advantage of 'opium farm'. They amassed their fortune through development of tin mines newly discovered in Perak during the late 19th century. It was the age of Chinese Colossuses deeply connected with Chinese secret societies. After the rubber plantations were developed by the Western capital in the early 20th century, the age of Chinese Colossuses was gradually fallen down. From this point of view one can be provided a new perspective on the history of Penang and the Chinese society of its own. The three scopes for history enable us to make a new interpretation about the issue of stratification within Chinese society in Penang. Especially this research focused on the economic characteristics of Chinese secret societies as 'social capital', and on the identity conflicts between traditional Strait Chinese(peranakan) elite and emerging sinkeh Chinese merchants. The identity problem between 'Laokeh' and 'Sinkeh' in the early 20th century was intentionally exaggerated by modern researchers. Their conflicts seems to be caused by different economic interests rather than identity. We need to consider again the rise and fall of Chinese society in Penang with flexible thinking.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.14 no.2
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• pp.47-59
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• 2019

Various studies have been carried out on the subject of entrepreneurship, which is required to create new businesses and organizations during the early process of startups based on innovative technologies and ideas. At the same time, the concept of organizational entrepreneurial orientation, which explains how to manage enterprises in the process of pioneering new products and markets, is drawing more and more attention for the purpose of continuously creating and maintaining a competitive edge of startups. This study focused on the relationship between entrepreneurial orientation and startup performance and the role of technological orientation and social capital. An empirical research was conducted on 144 different startup companies residing in startup supporting institutions. To evaluate the suitability of the research model, a PLS-based structural equation model was used. The research results are as follows: First, the entrepreneurial orientation of startups was found to have a positive effect on startup performance. Second, it was shown that entrepreneurial orientation had a positive effect on all three dimensions of social capital and technological orientation. Third, it has been shown that technological orientation and the cognitive dimension of social capital mediates the relationship between entrepreneurial orientation and startup performance. Through this, it was confirmed that entrepreneurial orientation directly affects startup performance, and it even influences the growth of startups by increasing technological superiority and social capital which is inherent in the network. Also, the research identified the need for additional research on the relationship between the strengthening of technological orientation and strategical orientation in startups. This study is expected to expand the discussion about social capital in the field of startup related research by affirming the role and importance of the cognitive system embedded in the network as well as the connectivity of networks, which has been already emphasized in previous startup related studies. Finally, the results of this study were reflected to present new practical implications.

• Korean Association of Arts Management
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• no.58
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• pp.5-47
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• 2021

This paper is a story about five middle-aged men in their 50s who suddenly began their photographic activities as they reached middle age. In the perspective of Borudieu's cultural capital theory, this study observes five men in their 50s by implementing in-depth interviews about the motivation behind taking photographs, the experience of photography activities, and the rewards of these activities. The theory has undergone a theoretical revision with the criticism that factors other than the class can be influential. Based on these ideas, I have proceeded my study by preferentially grasping the notion of the 'field' in accordance with the specific history of Korean society. Therefore, this study sought to more specifically understand the various photographic activities of middle-class men in their 50s by referring Coskuner-Balli and Thompson's argument(2013), which revised 2018's cultural captial theory and proposed the concept of 'subordinate cultural capital' and 'leisure capital' who proposed by Backlund, E. A. & Kuentzel, W. F.(2013). As a middle-class men in their 50s, research participants have grown up and worked in a social atmosphere where economic capital is recognized as an individual's ability. However, they are faced with the value that the knowledge and taste towards culture and arts is one's identity. In addition to the subjective deprivation that arises from this situation, the lifespan characteristic of their age that it is on the brink of the old age appeared to have influenced them to put their psychological motivation immediately into practice. Economic capital was the main conversion terms to move form interest to practice, which includes 'time' as a resource as well as money. With the cultural practices being expanded since their creation of photographs, the reason that these expansions can be maintained more actively lies in their identity as 'cultural artist' that is consolidated in new relationships in the sharing of photographic activities. In this way, photographic activities grant a symbolic status of 'a middle-aged man who actively builds and expresses his identity' through the conversion of accumulating cultural capital and the conversion into social capital. Furthermore, the recognized scope of the symbolic capital acquired by the research participants is in the domain of the private life that is family and acquaintance. Especially, they were gaining a great psychological reward from their children's recognition that they are not just a 'breadwinner' but 'dad who cultivates himself with a culture and arts'. Accordingly, by considering that 'generation' other than class can be a meaningful discussion point when understanding Korea society from the perspective of cultural theory, this study is meaningful that a more flexible understanding of cultural theory can give a glimpse into the possibility of a more specific and diverse approach that will arise in the discussion of culture and arts education.

• Proceedings of the Korean Society of Precision Engineering Conference
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• 1996.04a
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• pp.143-145
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• 1996

A new method of fabricating 3-dimensional patterns on single crystal silicon is presented in this paper. The method utlizes both chemical and mechanical reactions to make patterns with dimensions of few microns in width and submicron in height. The primaryadvantage ofthis new method over conventional methods of making patterns on silicon lies in its cost effectiveness and speed. The process introduced in this paper is a maskless process and does not reauire expensive capital investment. It is expected that this method can be employed for flexible and cost effective fabrication of micro-machine components in MEMS application.

• Proceedings of the Society of Korea Industrial and System Engineering Conference
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• 2002.05a
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• pp.9-18
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• 2002

A capital investment problem is essentially one of determining whether the anticipated cash Inflows from a proposed project are sufficiently attractive to invest funds in the project. The net present value(NPV) criterion and internal rate of return(IRR) criterion are widely used as means of making investment decisions. A positive NPV means the equivalent worth of the inflows is greater than the equivalent worth of outflows, so, the project makes profit. Business people are familiar with rates of return because they all borrow money to finance ventures, even If the money they borrow is their own. Thus they are apt to use the IRR in preference to the NPV. The IRR can be defined as the discount rate that causes the net present value of a cash flow to equal zero. Why the project are accepted if the project's IRR is greater than the investor's minimum attractive rate of return. Against the NPV, the definition cannot distinctly explain the concept of the IRR as decision criterion. We present a new definition of the IRR as the ratio of profit on the invested capital.

• Journal of Korean Society of Rural Planning
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• v.14 no.3
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• pp.37-51
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• 2008

This study aims to build a model dealing with the location decision of new manufacturing firms and their land demand. The model is composed with 1) the binary logit model structure identifying a future probability of manufacturing firms to locate in a city and their land demand; and 2) the land use suitability of the land demand. The model was empirically tested in the case of Anseong City. We used establishment-level data for the manufacturing industry from the Report on Mining and Manufacturing Survey. 48 industry groups were scrutinized to find the location probability in the city and their land demand via logit model with the dependent variables: number of employment, land capital, building capital, total products, and value-added for a new industry since 2001. It is forecasted that the future land areas (to 2025) for the manufacturing industries in the city are $5.94km^2$ and additional land demand for clustering the existing industries scattered over the city is $2.lkm^2$. Five industrial complex locations were identified through the land use suitability analysis.