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The Financing Behavior and Financial Structure Determinants of Korean Manufacturing Firms (한국제조기업의 자금조달행태와 재무구조 결정요인에 관한 연구)

  • Shin, Dong-Ryung
    • The Korean Journal of Financial Management
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    • v.23 no.2
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    • pp.109-141
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    • 2006
  • The central factor in the pecking order theory of financial structure is the asymmetric distribution of information between managers and less-informed outside investors. Myers and Majluf (1984) show that this asymmetry leads managers to prefer internal funds to external funds. Funds are raised through equity issues only after the capacity to issue debt has been exhausted. In contrast, according to static tradeoff theory, an optimum financial structure exists by the tradeoff between tax saving by debt and bankruptcy costs. This study examines the recent changes of Korean firms' financial structure and financing behavior and the determinants of financial structure. The sample of firms comes from the period of $1996{\sim}2004$, and the number of firms is 32,003. The major findings are as follows. First, in contrast with previous studies using US firms as sample, Korean firms have been using debt financing as their major financing instrument. Especially, the firms in the fund deficit situation relies much more on $long{\sim}term$ and $short{\sim}term$ debts rather than on equity issues. Second, as is the case with previous studies using US firms sample indicates, the financing deficit variable can not explain perfectly the net debt issue. However, compared with net equity issue variable, net debt issue variable is more closely related to the financing deficit variable. Third, when financing deficit variable is added to the current list of explanatory variables of financial structure determinants model, it has a significant and positive explanatory power. In addition, the coefficients of determinants are much improved. Thus, it is concluded that although pecking order theory is not perfect, it appears to be more useful compared to static tradeoff theory, at least in explaining the recent financing behavior of Korean manufacturing firms.

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"Improving women's and children's health in DPRK" project funded by the Republic of Korea (현재 진행되고 있는 남북한 의료협력사업 : 영유아 지원 사업을 중심으로)

  • Shin, Young-Jeon
    • Clinical and Experimental Pediatrics
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    • v.51 no.7
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    • pp.671-689
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    • 2008
  • The economic recession of North Korea has been prolonged, the need for humanitarian assistance for the women and children of DPRK has been raised. In March 2006, South Korean government signed MOU with World Health Organization (WHO) to financially support "Improving Women's and Children's Health in DPRK (IWCH)" project. The assistance projects through UNICEF and the non-government organizations of South Korea were also followed. IWCH project consists of three parts; nutrition, disease management, children and maternity care. The first term (2006-2007) of the project leading by WHO was finished, and the second term (2008-2010) is just begun. The projects driven by NGOs have relatively been delayed due to difficulties in negotiating on project contents and places with North Korea. Recently, however, re-modeling processes of an obstetric/gynecology hospital and a children hospital in Nampo were started. Up to recently, South Korean government has played only a limited role in the humanitarian assistance for North Korea. IWCH project is, however, a full-scale initiative driven by government based on a systematic review of need and priorities. A significant amount of budget and relatively long term (five year) project compare to the previous short term and small size programs were expected to make more meaningful achievement. Despite these positive aspects, the project remains a list of unsolved problems a lack of mutual trust, a different decision making process between South and North Korea, a lack of conflict management process, and unpredictability and complexity of international politics. In spite of such kind of political uncertainty, the health care sector will be a leading area in the process of improving relationship between South and North Korea, particularly, humanitarian assistance for women and children will play a crucial role in the process. The successful implementation of IWCH project, therefore, will contribute to provide the reference model in developing the mutually constructive relationship between South and North

A Study on Psychological Factors and Gastric Physiological Activity in the Functional Dyspepsia -Using Gastric Emptying Test- (가능성 소화장애증 환자의 정신사회적 요인과 위장 생리활동성의 연관성에 관한 연구 -위 배출능 검사를 이용하여-)

  • Kim, Jin-A;Lim, Seung-Han;Moon, Seong-Keun;Lee, Sang-Yeol
    • Korean Journal of Psychosomatic Medicine
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    • v.9 no.1
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    • pp.49-57
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    • 2001
  • Objectives : This study was designed to investigate the relationship between gastric emptying, psychopathology(especially anxiety and depression), and various factors that can mediate stress and response, such as coping style, social support and level of perceived stress. Methods : A total 30 patients who complained of the non-ulcer dyspepsia and did not have any abnormal finding on the gastroduodenal endoscopic examination, 24 hour ambulatory esophageal manometry and conventional gastroesophageal manometry were tested with gastric emptying that would be a functional examination of stomach. The correlations between the gastric emptying and psychological vaiable such as quantity of perceived stress, Symptom Checklist-90-Revision(SCL-90-R), Beck Depression Inventory(BDI), Spielberger Stait-Trait Anxiety Inventory(STAI), Ways of Coping Checklist and Interpersonal Support Evaluation List were evaluated. Results : 1) The mean and standard deviation of the time for half of the meal to empty(T50%) was $118.50{\pm}23.64$ minute which showed no gastric stasis in terms of gastric emptying test. 2) There were significant positive correlations between T50% and the state anxiety, T50% and thedepression. 3) There was no significant correlation between T50% and the quantity of perceived stress, T50% and mediating factors(coping style and social support). Conclusion : These results suggested that psychopathology, especially emotional components such as depression and anxiety, could affect on the current physiological functional gastric activity(gastric emptying), but quantity of perceive stress and mediating factors of stress and response such as coping style and social support could not affected on the functional gastric activity. These results showed that psychological interventions should considered in management of the patients with functional dyspepia.

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Exotic Weeds Flora in Crop Fields in Republic of Korea (우리나라 농경지에 발생하는 외래잡초 현황)

  • Kim, Chang-Seok;Kim, Jin-Won;Oh, Young-Ju;Hong, Sun-Hee;Heo, Su-Jeong;Lee, Chae-Young;Park, Kee-Woong;Cho, Seng-Hyun;Kwon, Oh-Do;Im, Il-Bin;Kim, Sang-Kuk;Seong, Deok-Gyeong;Chung, Young-Jae;Lee, Jeongran;Lee, In-Yong
    • Weed & Turfgrass Science
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    • v.7 no.1
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    • pp.1-14
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    • 2018
  • We surveyed the distribution of exotic weeds in Korean paddy fields, uplands, orchards and pastures from 12,568 sites during 3 years, 2013, 2014 and 2015. As a result, 166 species in 28 families were identified and 7, 130, 126, and 80 species were surveyed from paddy fields, uplands, orchards, and pastures, respectively. Among the 166 species, 128 species were annual weed and 38 species were perennial weed. Especially, winter annual exotic weeds were 63 species (37.8%). 46, 16, and 104 exotic weeds were classified to their introduction period of $1^{st}$ (1876-1921), $2^{nd}$ (1922-1963), and $3^{rd}$ (1964-now) period, respectively. The exotic weeds introduced in $2^{nd}$ and $3^{rd}$ period, included 12 Invasive Alien Species. The weeds from $1^{st}$ period, however, could be grouped into native weeds as the 'naturalized weed' and managed the same as the native weeds. Especially, some exotic weeds such as common groundsel were widely distributed in Korean crop lands, and they will become more problematic in near future. Therefore, systemic research from the biology to management should be conducted and the results from the studies should be applied practically.

ASSOCIATION BETWEEN TOURETTE DISORDER AND CATECHOL-O-METHYL TRANSFERASE(COMT) GENE IN KOREAN SUBJECTS (한국인에 있어서의 뚜렛 장애와 COMT유전자간의 상관 관계에 대한 연구)

  • Kim, Boong-Nyun;Lim, Jae-In;Cho, Soo-Churl
    • Journal of the Korean Academy of Child and Adolescent Psychiatry
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    • v.15 no.2
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    • pp.178-184
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    • 2004
  • Objectives : This study was conducted to investigate the association of the COMT polymorphism with the TD in Korean sample of families with TD probands. The relationship between risk alleles and specific clinical features (tic severity, comorbidity, drug response) was also explored. Method : Patients were recruited from the Tic Disorder clinic at the Child & Adolescent Psychiatric Division of Seoul National University Hospital and assessed through 2 stage evaluation. Firstly, all the patients and parents received semistructured interview using Korean version of K-SADS-PL. Secondly all the patients received clinical interview and tic severity assessment with Korean version of YGTSS. The subjects in control group were recruited from the health promotion center in out hospital and were evaluated by SCL-90 and SCID-IV. Through these process, total of 42 children and adolescents with TD, their 84 parents and 86 control subjects were finally recruited. Genotyping for The Val158Met polymorphism of the COMT gene was done by standardized method. After collection of genetic data of all the patients, parents and control subjects, case-control comparison and tranmission dysequilibrium test was executed by SPSS version 11. Result : From the case-control comparison, the frequency of L-allele and LL genotype was significantly higher in TD group. However, no differences were found from the TDT. No significant differences were found in in family history of tic, ADHD, OCD, drug response and comorbid conditions among the three different genotypes in patients with TD. Conclusion : Though this study results should be interpreted cautiously due to small sample size and negative finding in TDT test, this study is the first report that there is positive association between the functional polymorphism of COMT gene the TD.

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Clincal Manifestations of Patients Dying of Severe Community Acquired Pneumonia (중증 원외폐렴으로 사망한 환자의 임상적 분석)

  • Choi, Won-Il;Sohn, Jeong-Ho;Kwun, Oh-Yong;Heo, Jeong-Sook;Whang, Jae-Seok;Han, Seong-Beom;Jeon, Young-June
    • Tuberculosis and Respiratory Diseases
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    • v.41 no.5
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    • pp.537-545
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    • 1994
  • Background: In 1987, the British Thoracic Society (BTS) subjected an extensive list of patient variables to statistical analysis in a prospective study of prognosis in 453 adults with community-acquired pneumonia and, subsequently published guidelines for management of severe community acquired pneumonia. It was hoped that those at risk of dying from community acquired pneumonia could be easily identified and treated appropriately, thereby reducing mortality. To date, severe community acquired pneumonia has not been well studied in Korea. Therefore, we studied retrospectively 10 patients dying of severe community acquired pneumonia in Dongsan Hospital to see clinical manifestations of dying of severe community-acquired pneumonia. Methods: Between July 1987 and july 1993, 498 patients were admitted to Keimyung University Dongsan Hospital with community acquired pneumonia, and 77 of them received intensive care. Of the 77 patients, 10 patients died. We reviewed medical records of these patients. Results: 1) The mean age of the patients was 56.2 years(range, 25 to 75 years). There were 7 men and 3 women. Seven patients(70%) were older than 60years of age. 2) The clinical features on admission were as follows: tachypnca, hypoxemia, mental change, cyanosis, leukopenia, leukocytosis, azotemia, hypotension, hypoalbuminemia in order of frequency. Three patients had one abnormal physical finding, 3 patients had 2, 2 patients had 3, and 2 patients had none of these abnormal physical findings. All patients had at least one of the abnormal laboratory findings. 3) A potential bacterial pathogen was isolated in sputum culture from 2 patients. One was E.coli, the other Enterobacter species. Sputum stain were positive in eight cases (G(+)cocci in six, G(+) cocci and G(-)bacilli in two). 4) Features of respiratory failure were the main reasons for ICU transfer, but two patients were transferred only following a cardiac or respiratory arrest in the general ward. 5) The mean of 2.7 different antibiotics were given to the patients. The aminoglycoside and first generation cephalosporin were the most frequently prescribed antibiotics, followed by the third generation cephalosporin and vancomycin. The most frequently prescribed antibiotics combination was a 1st generation cephalosporin plus an aminoglycoside. 6) Seven patients death(70%) occured after admission within the first five days, and a mean duration of hospitaliztion was 11.2 days. Conclusion: As the results show most death occured within the first five days after admission and aged patients; consequently, an aggressive intensive treatment should be provided early to the patients with severe community acquired pneumonia, and we should pay more attention to the aged patients.

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Investigation of radical scavenging and anti-inflammatory activity of the extract and fractions of Termitomyces albuminosus (계종버섯 추출물과 분획물의 라디칼 소거 활성과 항염증 활성 분석)

  • Kang, Min-Jae;Kim, Young-Jae;Hwang, Hyeon-Jeong;Kim, Moon-Ho;Sin, Jong-Moo;Shin, Pyung-Gyun;Kim, Gun-Do;Kim, Keun Ki
    • Journal of Mushroom
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    • v.18 no.1
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    • pp.45-52
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    • 2020
  • Termitomyces albuminosus has been recognized to have the best mushrooms in China, in terms of taste and aroma. The efficacy of these mushrooms has been recorded in the botanical list. However, research on the development of their artificial culture methods is necessary. In this study, we prepared an organic solvent extract and a hot water extract to understand the development of compounds and functional foods with antioxidant and anti-inflammatory activities. The IC50 value of DPPH radical scavenging activity of the hot water extract (TA4) was 1.5 mg/mL and the IC50 value of the MeOH fraction (TA2) was 1.93 mg/mL. The anti-inflammatory activity was investigated by the inhibition of NO production. EtOAc fraction (TA1) is a crude extract, but 79% of NO production was inhibited at 100 ㎍/mL. NO was not produced at 200 ㎍/mL. TA1-5-6, from TA1 inhibited NO production by 15% as compared to the positive control at 15 ㎍/mL, and completely inhibited NO production at 30 ㎍/mL. No cytotoxicity was observed at 50 ㎍/mL. TA2-1-5 from the MeOH fraction (TA2) inhibited more than 75% of NO production at 30 ㎍/mL; cytotoxicity was very low even at 50 ㎍/mL. In conclusion, by selective solvent selection, it was possible to manufacture an extract with no cytotoxicity and excellent biological activities. Furthermore, the extracts showed potential for developing various functional foods and drugs.

Residual Characteristics and Monitoring of Cyenopyrafen and Cyflumetofen in Strawberries for Export (수출딸기 중 Cyenopyrafen과 Cyflumetofen의 잔류소실 특성평가 및 잔류농약 모니터링)

  • Kim, Yeong-Jin;Kim, Jong-Hwan;Kwon, Young-Sang;Song, Jong-Wook;Seo, Jong-Su
    • Korean Journal of Environmental Agriculture
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    • v.36 no.4
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    • pp.279-287
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    • 2017
  • BACKGROUND: Many farmers who cultivate the strawberries for export have used agricultural chemicals which MRL (Maximum Residue Limits) of main export target countries or simultaneous multi-residue analysis in Korea have not been established. Among them, the cyenopyrafen and cyflumetofen were selected and applied to this study to determine the PHI (pre-harvest interval) which is appropriate to the PLS (Positive List System) criterion (0.01 mg/kg) and to investigate the residual amounts in the samples. In addition, Fifty pesticides were monitored to check up whether it is suitable or not for main export target countries. METHODS AND RESULTS: Cyenopyrafen and cyflumetofen were spayed out to the strawberries. Samples for residual analyses were taken for maximum 60 days. After sampling, they were extracted by the QuEChERS method and analyzed using the LC-MS/MS. Cyenopyrafen and cyflumetofen were detected in a range of 0.0106~2.6517 mg/kg and of 0.0005~1.4480 mg/kg, respectively. From this results, they were found to be suitable for PLS concentration after 30 or 45 days after spray. In addition, they were detected in most samples that were selected at random. Their concentrations were higher than the PLS criterion in the maximum twenty samples. Twelve of pesticides unsuitable for main export target countries have been detected in the monitoring of simultaneous multi-residue analysis. The result indicates they are unsuitable for export since they excesses over PLS criterion. CONCLUSION: The monitoring result showed it is necessary to establish the pesticide standards of safe use suitable for the PLS criterion. In addition, it is considered continues management and inspection are needed to solve problems caused by unsuitable pesticides in export strawberries.

A Study on How Reading Comic Books Affects Creativity (만화 읽기가 창의력 향상에 미치는 연구)

  • Jang, Jin-Young;Park, Hye-Ri
    • Cartoon and Animation Studies
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    • s.36
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    • pp.437-467
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    • 2014
  • This study is intended to reveal reading comic books helps improve creativity. Though the long-lasting negative recognition towards comic books has positively changed these days, we need a ground upon which the social recognition needs improvement in that children's comic books have been used as a learning tool. Its introduction points out that there has been shortage of empirical researches on comic book reading, and as one of the empirical research methods, presents a method of comparative analysis on comic book reading, school study, and creativity tests via survey. The theoretical background in the 2nd chapter, first, puts emphasis on the significance of the creativity theory among all the other theories related to creativity, which focuses on problem-solving capacity. Second, it theoretically reviews the meaning which 'fun' and 'interest' have in development of creativity in the context of developmental process of the modern educational theories. Third, it empathizes that traits of reading comic books start off with 'fun' and 'interest', that awareness of reality gets expanded via the process of characters making their way through a strange world with empathy and absorption, and that comic book reading has to do with creativity. Fourth, it presents a model questionnaire with which to study relationship between comic books and creativity in an empirical way. The analysis on the survey outcome in the 3rd chapter shows, first, that smart students read many comic books, not to mention that studying helps improve creativity, which indicates above all, comic book reading and improvement of creativity are not negatively related, but are mutually complementary. Second, that creativity enhanced by reading comic books is higher than that enhanced by studying, which may mean comic book reading is more effective than studying in developing creativity. It has drawn a conclusion based upon these results, that reading comic books bears positive efficacy on both studying and developing creativity. Standing on this conclusion, it proposes it necessary to develop methods by grades of educating how to read comic books and to provide a recommended list of comic books to read.

Development of Simultaneous Analytical Method for Streptomycin and Dihydrostreptomycin Detection in Agricultural Products Using LC-MS/MS (LC-MS/MS를 이용한 농산물 중 Streptomycin 및 Dihydrostreptomycin 동시시험법 개발)

  • Lee, Han Sol;Do, Jung-Ah;Park, Ji-Su;Park, Shin-Min;Cho, Sung Min;Shin, Hye-Sun;Jang, Dong Eun;Choi, Young-Nae;Jung, Yong-hyun;Lee, Kangbong
    • Journal of Food Hygiene and Safety
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    • v.34 no.1
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    • pp.13-21
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    • 2019
  • A method was developed for the simultaneous detection of an antibiotic fungicide, streptomycin, and its metabolite (dihydrostreptomycin) in agricultural products using liquid chromatography-tandem mass spectrometry (LC-MS/MS). The samples were extracted using methanol adjusted to pH 3 using formic acid, and purified with a HLB (Hydrophilic lipophilic balance) cartridge. The matrix-matched calibration curves were constructed using seven concentration levels, from 0.001 to 0.1 mg/kg, and linearity of five agricultural products (hulled rice, potato, soybean, mandarin, green pepper), with coefficients of determination $(R^2){\geq}0.9906$, for streptomycin and dihydrostreptomycin. The mean recoveries at three fortification levels (LOQ, $LOQ{\times}10$, $LOQ{\times}50$, n = 5) were from 72.0~116.5% and from 72.1~116.0%, and relative standard deviations were less than 12.3% and 12.5%, respectively. The limits of quantification (LOQ) were 0.01 mg/kg, which are satisfactory for quantification levels corresponding with the Positive List System. All optimized results satisfied the criteria ranges requested in the Codex guidelines and the Food Safety Evaluation Department guidelines. The present study could serve as a reference for the establishment of maximum residue limits and be used as basic data for detection of streptomycin and dihydrostreptomycin in food.