• Journal of the Korea Academia-Industrial cooperation Society
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• v.15 no.1
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• pp.86-98
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• 2014

This study examined a long-standing issue with its perverse results in the Korean capital markets, such as any variant financial profiles over time, affecting capital structure for the firms belonging to the chaebols. It may be of interest to identify these components from the perspectives of international investors and domestic policy makers to implement their contingent strategies on the target leverage, since the U.S. financial turmoils in the late 2000s. Regarding the evidence from the three hypothesis tests on the firms in the chaebols, this research found that the control variabels measuring profitability, business risk, and non-debt tax shields, showed their statistically significant relationships with the different types of a debt ratio. While FCFF(free cash flow to the firm) showed its significant influence to discriminate between the firms in the chaebols and their counterparts, not belonging to the chaebols, BDRELY as the ratio of liabilities to total assets, comprising the enhanced 'Dupont' system, only showed its statistically significant effect on leverage in the context of the parametric and nonparametric tests. In line with the results obtained from the present research, one may expect that a firm in the Korean chaebol, may control or restructure its present level of capital structure to revert to its target optimal capital structure towards maximizing the shareholders' wealth.

• Journal of Digital Convergence
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• v.18 no.6
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• pp.513-522
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• 2020

The purpose of this study is to analyze the auto-regression effect between the elderly's assets and depression and life satisfaction, and to approach the influence of assets and depression on the elderly's life from a longitudinal perspective. For this purpose, the data for the 9th year (2014), 11th year (2016), and 13th year (2018) of the Korea Welfare Panel were used. As a result of the analysis, First, the assets, depression and life satisfaction of the elderly have a lasting effect on the passage of time, and the assets, depression and life satisfaction of the previous point in time (B=.694, B=.725, p<.001), depression (B=.258, B=.331 and p<.001) and life satisfaction (B=.264, B=.265, p<.001). Second, cross-recursion coefficients show how the relationship between the assets of the elderly and depression and the satisfaction of life affects each other over time, and the assets of the older person at the previous point in time (B=.010, B=.011, p<.001), the assets of the older persons at previous times are subsequently satisfied with their lives (B=.128, B=.124, p<.001). Based on the results of the above analysis, it is necessary to support the elderly's asset management service and education to prevent depression, such as continuous asset utilization education.

• Journal of the Korean Society of Fisheries and Ocean Technology
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• v.36 no.2
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• pp.73-88
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• 2000

A series of analysis and experiment on the fishing gear and method of the existing midwater pair trawl net with 12,800mm of maximum mesh size is carried out to determine the most effective shape factor. As the first step of this study, the fishing gear and method for the existing net are analyzed to solve problems, such as being low of the net height by increasing the towing speed, twist of net pendant and twine, suspension of float between knots of mesh. etc. Standing on these results, the existing net are modified by very effective shape based on the theory and technology designing the fishing gear. Also, the model experiment is carried out to determine the most effective shape factor of the modified net in the circulation water channel. The obtained results can be summarized as follows : 1. On the length of net pendants(No.2 and No.3) connected with side line, opening efficiency of net with length 8.0cm of net pendant is the greatest and in the order of 11.5cm, 15.0cm. 2. On the number of the net pendant, opening efficiency of net with 4 lines of net pendant is the greatest and in the order of 3 lines, 2 lines. Center part of side panel is pushed out backward, and the pushed length is increasing by increasing flow speed. 3. On the sinking force, opening efficiency of the net is increasing by increasing sinking force. And opening efficiency shows almost the same when sinking force is greater about 1.5 times than that of the existing net in case of the net with 3 lines of net pendant, and about 1.6 ~ 1.7 times than that of the existing net in case of the net with 2 lines.

• Journal of Korean Society of Steel Construction
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• v.19 no.6
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• pp.751-760
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• 2007

The purpose of this study is to evaluate the seismic performance of the frame which is assumed to be used with Welded Unreinforced Flange-Bolted web (WUF-B) connections and detailed in compliance with FEMA 350 recommended seismic design criteria. In FEMA 350, these types of connections are only valid for Ordinary Moment-Resisting Steel Frames (OMRSFs). For this purpose, based on test results, we proposed an analytical model for the Post-Northridge WUF-B connections with different panel zone strength ratios. Using the connection model, SAC Phase II three and nine-story frames were modeled and analyzed. From a nonlinear static pushover analysis, ductility, maximum strength, and the maximum interstory drift ratio were investigated for buildings with Post-Northridge details. Moreover, the maximum interstory drift ratio of each performance level (IO and CP) was also investigated through Incremental Dynamic Analysis (IDA). Analytical results were compared with those of buildings with either Pre-Northridge connection or ductile connections with no fracture. The analytical results showed that buildings with Post-Northridge WUF-B connections provide superior strength and interstory drift ratio capacity than buildings with Pre-Northridge WUF-B connections.

• Journal of Korea Port Economic Association
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• v.24 no.2
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• pp.209-239
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• 2008

The purpose of this paper is to investigate the effectiveness of Korean port investment by using the newly developed slack-based multi-year panel congestion model of DEA(Data Envelopment Analysis). Inputs[port investment amount, cargo handling capacity, and berthing capacity], and outputs[cargo handling amount, number of ship calls, revenue, and score of customer service satisfaction] are used during 1994-2004 for 20 Korean seaports. Empirical analysis identified congestion especially in port investment as input at the ports of Gunsan, and Busan in the all 3 models, and the ports of Pyungtag, Mogpo, Yeosu, and leju in over 2 models. Port investment induced the rapid increase of port efficiency from the ports of Masan, Incheon, Donghae, and Samcheok. Therefore other ports except these ports should examine the reason about the inefficiency of port investment by searching out the situation of each ports directly. The main policy implication based on the findings of this study is that The Ministry of Land, Transport and Maritime Affairs in Korea should introduce the new measurement way after reviewing the multi-year slack-based congestion approach when the amount of port investment for each port is decided.

• Journal of Labour Economics
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• v.29 no.1
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• pp.129-152
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• 2006

The purpose in this study is to analyze the effect of expected public pension assets (or social security wealth) and retirement incentives on retirement behaviors of two wage earners households. For the purpose of the study, an empirical analysis was conducted. In the empirical step, it was found that the empirical results were significant for men, but not for women namely, statistically asymmetric if behaviors of two couples are interdependent. The cause for the statistically asymmetric results were then determined. The Bivariate Probit model was used for estimation in the first step and the KLIPS(Korean Labor and Income Panel Study) was used as data for estimation. According to the empirical analysis, the results showed statistically significant asymmetry for men, however not for women, in expected public pension assets and other retirement incentives, non-wage assets, age difference, spouse's health status, spouse's monthly wages per hour and aging of their spouse In this study, cause of statistically asymmetric result in asymmetric complementarities of leisure of couples were found, then explained through different methods of comparison from the most recent studies. First, spouse's cross wage elasticity of self leisure demand(retirement) was calculated and determined whether complementarities of leisure of couples is positive or negative. Then, the degree of complementarities of leisure was distinguished in comparison with the relative size of two cross elasticities. Thus, men have relatively strong complementarities of leisure. But for women, it may roughly cancel out due to the substitution effect and the income effect. Therefore, women have relatively weak complementarities of leisure.

• Journal of Korean Society of Transportation
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• v.22 no.4 s.75
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• pp.97-106
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• 2004

It is a Known fact that driving through long tunnel increases possibility of traffic accident because of psychological feeling of insecurity and dispersion of drivers' concentration since driving in narrow and limited space for a longtime. It, therefore, results in raising transportation and environment problems, such as traffic accident difficult to be properly dealt with and ventilation. This study aims at proposing a method of augmenting driving amenity by improving the internal lighting facilities in the tunnel. The study is conducted by investigating internal landscapes of tunnels by lighting colors, which are currently being operated. The Color Planning System (CPS), developed by SHARP Co. Ltd, is exploited for selecting adjective that express the sensitivity image on lighting colors. The CPS is an example that applies to sensitivity of human body for products design development. The CPS takes the following process to define the color : 1) expressing "Pvoduct's Image" as "A Word (adjective)" and 2) referring "A Word" to "Image Scale", and 3) determining the color through this "Image Panel". The study is processed by making a questionnaire using the semantic differential (SD) scale, grasping the consciousness structure of experimental persons through the Factor Analysis, and building a model in which dependent variable is "Degree of Preference" about internal landscape in tunnel using LISREL(LInear Structural RELations).

• Journal of the Korean Society of Marine Environment & Safety
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• v.10 no.2 s.21
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• pp.35-39
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• 2004

Ship structures are basically an assembly of plate elements and the load-carrying capacity or the ultimate strength is one of the most important criteria for safety assessment and economic design. Also, Structural elements making up ship plated structures do not work separately, resulting in high degree of redundancy and complexity, in contrast to those of steel framed structures. To enable the behavior of such structures to be analyzed simplifications or idealizations must essentially be made considering the accuracy needed and the degree of complexity of the analysis to be used On this study, to investigate effect of modeling range, the finite element method are used and their results are compared varying the analysis ranges. The model has been selected from bottom panels of merchant ship structures. For FHA, three types of structural modeling are adopted in terms of the extent of the analysis. The purpose of the present study is to numerically calculate the characteristics of ultimate strength behavior according to the analysis ranges of stiffened panels subject to uniaxial compressive loads.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.19 no.7
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• pp.231-238
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• 2018

This study was conducted to provide basic data to understand the interaction patterns of dual-income parents' happiness by confirming the effect of work-family reconciliation recognized by dual-income parents on parental happiness. The subjects of the study were 630 pairs of dual-income parents out of 1462 pairs of parents who participated in both the main questionnaire and in the mother and father questionnaires in the 8th Panel Study on Korean Children (2015), and they were analyzed based on the Actor and Partner Interdependence Model (APIM). The results of this study show that the gain and strain of parents' work-family reconciliation had an actor effect on parents' happiness, and the gain and strain of father work-family reconciliation had a partner effect on mother's happiness. This study was meaningful in that it provides basic data on intervention and program development that could increase the happiness of dual-income parents. In order to increase the happiness of dual-income parents, it is necessary to provide intervention and education. In the future, we propose a study to confirm changes in influencing factors of parents' happiness according to time.

• Journal of Korea Technology Innovation Society
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• v.10 no.3
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• pp.383-405
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• 2007

In this paper we estimate knowledge production function for 15 South Korean industry sectors using panel data. To accommodate the influence of inter-sectoral interactions on the creation of knowledge, we estimate parameters for related knowledge production functions using the Dynamic Seemingly Unrelated Regression(DSUR) model proposed by Mark et al. (2005). We find the elasticity of knowledge production with respect to the size of research staff to be 0.25 and that with respect to the existing stock of knowledge to be 0.35. The fact that the elasticity of new knowledge creation with regard to the existing knowledge stock is below 1 in South Korea corroborates the view that the rate of long-term growth of her economy is chiefly determined by the elasticity related to production functions of goods and services and the rate of population growth, and that her government policy, to ensure a continued growth for the Korean economy, must shift the focus of R&D policies from the current direct intervention-centered model to one consisting of indirect measures, namely supporting knowledge management and diffusion and the creation of a knowledge sharing system. In terms of R&D policy implications it could be consider that the national knowledge production system should strengthen the cumulative process of knowledge accumulation and population for research and development. Our country R&D policy, also, need to adopt a global approach to increase knowledge stock at the highest levels of a country.