• Journal of Intelligence and Information Systems
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• 제26권3호
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• pp.51-69
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• 2020

Now, it is a stylized fact that a small number of technology firms such as Apple, Alphabet, Microsoft, Amazon, Facebook and a few others have become larger and dominant players in an industry. Coupled with the rise of these leading firms, we have also observed that a large number of young firms have become an acquisition target in their early IPO stages. This indeed results in a sharp decline in the number of new entries in public exchanges although a series of policy reforms have been promulgated to foster competition through an increase in new entries. Given the observed industry trend in recent decades, a number of studies have reported increased concentration in most developed countries. However, it is less understood as to what caused an increase in industry concentration. In this paper, we uncover the mechanisms by which industries have become concentrated over the last decades by tracing the changes in industry concentration associated with a firm's status change in its early IPO stages. To this end, we put emphasis on the case in which firms are acquired shortly after they went public. Especially, with the transition to digital-based economies, it is imperative for incumbent firms to adapt and keep pace with new ICT and related intelligent systems. For instance, after the acquisition of a young firm equipped with AI-based solutions, an incumbent firm may better respond to a change in customer taste and preference by integrating acquired AI solutions and analytics skills into multiple business processes. Accordingly, it is not unusual for young ICT firms become an attractive acquisition target. To examine the role of M&As involved with young firms in reshaping the level of industry concentration, we identify a firm's status in early post-IPO stages over the sample periods spanning from 1990 to 2016 as follows: i) being delisted, ii) being standalone firms and iii) being acquired. According to our analysis, firms that have conducted IPO since 2000s have been acquired by incumbent firms at a relatively quicker time than those that did IPO in previous generations. We also show a greater acquisition rate for IPO firms in the ICT sector compared with their counterparts in other sectors. Our results based on multinomial logit models suggest that a large number of IPO firms have been acquired in their early post-IPO lives despite their financial soundness. Specifically, we show that IPO firms are likely to be acquired rather than be delisted due to financial distress in early IPO stages when they are more profitable, more mature or less leveraged. For those IPO firms with venture capital backup have also become an acquisition target more frequently. As a larger number of firms are acquired shortly after their IPO, our results show increased concentration. While providing limited evidence on the impact of large incumbent firms in explaining the change in industry concentration, our results show that the large firms' effect on industry concentration are pronounced in the ICT sector. This result possibly captures the current trend that a few tech giants such as Alphabet, Apple and Facebook continue to increase their market share. In addition, compared with the acquisitions of non-ICT firms, the concentration impact of IPO firms in early stages becomes larger when ICT firms are acquired as a target. Our study makes new contributions. To our best knowledge, this is one of a few studies that link a firm's post-IPO status to associated changes in industry concentration. Although some studies have addressed concentration issues, their primary focus was on market power or proprietary software. Contrast to earlier studies, we are able to uncover the mechanism by which industries have become concentrated by placing emphasis on M&As involving young IPO firms. Interestingly, the concentration impact of IPO firm acquisitions are magnified when a large incumbent firms are involved as an acquirer. This leads us to infer the underlying reasons as to why industries have become more concentrated with a favor of large firms in recent decades. Overall, our study sheds new light on the literature by providing a plausible explanation as to why industries have become concentrated.

• Culinary science and hospitality research
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• 제22권7호
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• pp.112-130
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• 2016

In this study the moisture content and chromaticity of fresh made lotus leaf powder added Cheongpomuk to utilize various efficacy of lotus leaf for processed food, as well as chromaticity, moisture content change, texture, total phenolic compound content, DPPH radical scavenging ability and preference of lotus leaf powder added Cheongpomuk with different storage period have been measured and analyzed. From the texture of lotus leaf powder added mung bean as per the storage period, the hardness of fresh Cheongpomuk were $0.38g/cm^2$ from control group, $0.40g/cm^2$ from CCD 1% group, $0.42g/cm^2$ from CCD 3% group, $0.37g/cm^2$ from CCD 5% group, $0.42g/cm^2$ from GGD 1% group, $0.39g/cm^2$ from GGD 3% group, $0.35g/cm^2$ from GGD 5% group, $0.39g/cm^2$ from JLD 1% group, $0.33g/cm^2$ from JLD 3% group, and $0.32g/cm^2$ from JLD 5% group. It has shown that JLD 5% group was the lowest, while CCD 3% group and GGD 1% group were the highest, and there were significant differences among sample groups. For DPPH radical scavenging ability, that of GLD 5% group was 22 times higher than that of control group. In addition, the tendency was increasing by increasing the adding rate of lotus leaf powder though there was some tolerance among sample groups. For total phenolic compound content, that of control group was 6.65 mg CE/100 g, and others were 7.48 mg CE/100 g from CCD 1% group, 15.82 mg CE/100 g from CCD 3% group, 20.15 mg CE/100 g from CCD 5% group, 15.55mg CE/100 g from GGD 1% group, 23.02 mg CE/100 g from GGD 3%, 26.95 mg CE/100 g from GGD 5% group, 3.92 mg CE/100 g from JLD 1% group, 16.72 mg CE/100 g from JLD 3%, and 26.58 mg CE/100 from JLD 5% group. From the analyzing result of responses for color and scent, taste, elasticity, and total preference of lotus leaf powder added Cheongpomuk between two panel groups, there was significant difference for the color, higher from professional cooking instructor group, but there were no significant difference between two groups for all other factors among professional cooking instructors and cooking department students. According to the results, it is expected that various functional foods can be developed by utilizing lotus leaf powder, depending on the growth condition and cultural environment of each region by adding 3% of lotus leaf powder, would be the most suitable recipe for Cheongpomuk.

• Korean Journal of Community Nutrition
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• 제26권3호
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• pp.188-199
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• 2021

Objectives: The purpose was to identify the ingredients that are usually surveyed for assessing real prices and to present the demand for such surveys by nutrition teachers and dietitians for ingredients used by school foodservice. Methods: A survey was conducted online from December 2019 to January 2020. The survey questionnaire was distributed to 1,158 nutrition teachers and dietitians from elementary, middle, and high schools nationwide, and 439 (37.9% return rate) of the 1,158 were collected and used for data analysis. Results: The ingredients which were investigated for price realities directly by schools were industrial products in 228 schools (51.8%), fruits in 169 schools (38.4%), and specialty crops in 166 schools (37.7%). Moreover, nutrition teachers and dietitians in elementary, middle, and high schools searched in different ways for the real prices of ingredients. In elementary schools, there was a high demand for price information about grains, vegetables or root and tuber crops, special crops, fruits, eggs, fishes, and organic and locally grown ingredients by the School Foodservice Support Centers. Real price information about meats, industrial products, and pickled processed products were sought from the external specialized institutions. In addition, nutrition teachers and dietitians in middle and high schools wanted to obtain prices of all of the ingredients from the Offices of Education or the District Office of Education. Conclusions: Schools want to efficiently use the time or money spent on research for the real prices of ingredients through reputable organizations or to co-work with other nutrition teachers and dietitians. The results of this study will be useful in understanding the current status of the surveys carried out to determine the real price information for ingredients used by the school foodservice.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• 제18권3호
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• pp.211-226
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• 2023

As we transition into the post-COVID era, economic activities that were stagnant are regaining momentum. In particular, there is a growing trend of technology entrepreneurship driven by the opportunities of digital transformation in the Fourth Industrial Revolution. However, entrepreneurship education content is struggling to keep up with the rapid pace of technological change. This study aims to emphasize the importance of entrepreneurship mentoring as a crucial component of entrepreneurship education content that requires adaptation and advancement due to the increasing demand for technology entrepreneurship. This study redefines startup mentoring, which is differentiated from general mentoring, at the present time when the demand for startups, which increases with the declining employment rate, increases, and the development of quality startup education contents and securing professional startup mentors are required. According to the start-up stage, it is divided into preliminary entrepreneurs and early entrepreneurs, and the effect of entrepreneurship knowledge and self-efficacy among start-up mentoring functions on entrepreneurial will and mentoring satisfaction is improved by empirically researching the effects of start-up mentoring functions in the case of initial entrepreneurs as a moderating effect. To confirm the importance of entrepreneurship mentoring effect for. To this end, among the mentoring functions, entrepreneurship knowledge and self-efficacy were set as independent variables, and entrepreneurial will and mentoring satisfaction were set as dependent variables. The research model was designed and hypotheses were established. In addition, empirical analysis was conducted by conducting a questionnaire survey on trainees who received entrepreneurship mentoring education at ICCE Startup School and Opus Startup School. To summarize the results of the empirical analysis, first, among the entrepreneurship mentoring functions, entrepreneurship knowledge and self-efficacy were analyzed to have a significant positive (+) effect on entrepreneurial will. Second, among the entrepreneurship mentoring functions, entrepreneurship knowledge and self-efficacy were analyzed to have a significant positive (+) effect on mentoring satisfaction. Third, it was analyzed that entrepreneurship had no significant moderating effect on entrepreneurial knowledge and entrepreneurial will. Fourth, it was analyzed that entrepreneurship had no significant moderating effect on mentoring satisfaction. Fifth, it was found that entrepreneurship had a significant moderating effect between self-efficacy and will to start a business. As a result of the research analysis, the first implication is that the mentoring function in start-up education is analyzed to produce meaningful results for both the initial entrepreneurs and the prospective entrepreneurs in the will to start a business and satisfaction. . Second, it was analyzed that there was no significant relationship between whether a business was started and the mentoring function and effect. However, it was analyzed that the will to start a business through improvement of self-efficacy through mentoring was significantly related to whether or not to start a business. turned out to be helpful. Many start-up education programs currently conducted in Korea educate both early-stage entrepreneurs and prospective entrepreneurs at the same time for reasons such as convenience. However, through the results of this study, even in small-scale entrepreneurship mentoring, it is suggested that customized mentoring through detailed classification such as whether the mentee has started a business can be a method for successful entrepreneurship and high satisfaction of the mentee.

• The Journal of Korean Society for Radiation Therapy
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• 제25권2호
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• pp.145-151
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• 2013

Purpose: In this study, we analyzed how the dose change by field size effects on atomic number of shielding materials while using 6 MeV election beam. Materials and Methods: The parallel plate chamber is mounted in $25{\times}25cm^2$ the phantom such that the entrance window of the detector is flush with the phantom surface. phantom was covered laterally with aluminum, copper and lead which thickness have 5% of allowable transmission and then the doses were measured in field size $6{\times}6$, $10{\times}10$ and $20{\times}20cm^2$ respectively. 100 cGy was irradiated using 6 MeV electron beam and SSD (Source Surface Distance) was 100 cm with $10{\times}10cm^2$ field size. To calculate the photon flux, electron flux and Energy deposition produced after pass materals respectively, MCNPX code was used. Results: The results according to the various shielding materials which have 5% of allowable transmission are as in the following. Thickness change rate with field size of $6{\times}6cm^2$ and $20{\times}20cm^2$ that compared to the field size of $10{\times}10cm^2$ found to be +0.06% and -0.06% with aluminum, +0.13% and -0.1% with copper, -1.53% and +1.92% with lead respectively. Compare to the field size $10{\times}10cm^2$, energy deposition for $6{\times}6cm^2$ and $20{\times}20cm^2$ had -4.3% and +4.85% respectively without shielding material. With aluminum it had -0.87% and +6.93% respectively and with lead it had -4.16% and +5.57% respectively. When it comes to photon flux with $6{\times}6cm^2$ and $20{\times}20cm^2$ of field sizes the chance -8.95% and +15.92% without shielding material respectively, with aluminum the number -15.56% and +16.06% respectively and with copper the chance -12.27% and +15.53% respectively, with lead the number +12.36% and -19.81% respectively. In case of electron flux in the same condition, the number -3.92% and +4.55% respectively without shielding material respectively, with aluminum the number +0.59% and +6.87% respectively, with copper the number -1.59% and +3.86% respectively, with lead the chance -5.15% and +4.00% respectively. Conclusion: In this study, we found that the required thickness of the shielding materials got thinner with low atomic number substance as the irradiation field is increasing. On the other hand, with high atomic number substance the required thickness had increased. In addition, bremsstrahlung radiation have an influence on low atomic number materials and high atomic number materials are effected by scattered electrons.

• The Korean Journal of Air & Space Law and Policy
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• 제33권2호
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• pp.225-266
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• 2018

In 2017, 1,252 cases of damages relief related to air passenger transport service were received by the Korea Consumer Agency, a 0.8% drop from 1,262 cases in 2016, the first decline since 2013. In 2017, 444 cases (35.4%) out of received cases of damages relief in the field of air passenger service received by the Korea Consumer Agency were agreed on, and out of cases that were not agreed on, the most number of 588 cases (47.0%) were concluded due to information provision and counseling, and 186 cases (14.9%) were applied to the mediation of the Consumer Dispute Mediation Committee. Major legislations that contain regulations for the damages relief and disputes resolution of air service consumers include the Aviation Business Act and the Consumer Fundamental Act, etc. The Aviation Business Act provides the establishment and implementation of damage relief procedure and handling plan, and the receiving and handling of request of damage relief by air transport businessman, and the notice of protection standard for air traffic users. The Consumer Fundamental Act provides the establishment and management of the consumer counseling organization, the damage relief by the Korea Consumer Agency, the consumer dispute mediation, and the enactment of the criteria for resolving consumer disputes. The procedures for damages relief of air service consumers include the receiving and handling of damages relief by air transport businessman, the counseling, and receiving and handling of damages relief by the Consumer Counseling Center, the advice of mutual agreement by the Korea Consumer Agency, and the dispute mediation system by the Consumer Dispute Mediation Committee. The current system of damage relief and dispute mediation for air service consumer have the problem in the exemption from obligation of establishment and implementation of damage relief plan by air transport businessman under the Aviation Business Act, the problem in the exemption from liability in case of nonfulfillment and delay of transport by aviation businessman under the criteria for resolving consumer disputes in the aviation sector, and the uppermost limit in procedure progress and completion of consumer dispute mediation under the Consumer Fundamental Act. Therefore, the improvement measurements of the relevant system for proper damage relief and smooth dispute mediation for air service consumer are to be suggested as follows: First is the maintenance of the relevant laws for damage relief of air service consumer. The exemption regulation from obligation of establishment and implementation of damage relief plan by air transport businessman under the Aviation Business Act shall be revised. To enhance the structualization and expertise of the relevant regulation for protection and damage relief of air service consumer, it will be necessary to prepare the separate legislation similar to the US Federal Regulation 14 CFR and EU Regulation EC Regulation 261/2004. Second is the improvement of criteria for resolving air service consumer disputes. For this, it will be necessary to investigate whether the cause of occurrence of exemption reason was force majeure, and distinguish the exemption from liability in case of nonfulfillment and delay of transport by aviation businessman under the criteria for resolving consumer disputes in the aviation sector, and revise the same as exemption reasons regulated under the air transport chapter of the Commercial Act and Montreal Convention 1999, and unify the compensation criteria for the nonfulfillment of transport that the substitute flight was provided and the delay of transport. Third is the reinforcement of information provision for damage relief of air service consumer. Aviation-related government agencies and concerned agencies should cooperate with airlines and airports to provide rapidly and clearly diverse information to the air traffic users, including laws and policies for damages relief of air service consumers. Fourth is the supplement to the effectiveness, etc. of consumer dispute mediation. If there is no sign of acceptance for dispute mediation, it is not fair to regard it as acceptance, therefore it will be necessary to add objection system. And if a dispute resolution is requested to another dispute settlement agency in addition to the Consumer Dispute Mediation Committee, it is excluded from the damage relief package, but it should be allowed for the party to choose a mediation agency. It will be necessary to devise the institutional measures to increase the completion rate of mediation so that the consumer dispute can be resolved efficiently through the mediation. Fifth is the introduction of the air service consumer arbitration system. A measure to supplement the limitations of the consumer dispute mediation system is to introduce the consumer arbitration system, but there are two measurements which are the introduction of the consumer arbitration under the Consumer Fundamental Act and the introduction of the consumer arbitration under the Arbitration Act. The latter measurement is considered to be appropriate. In conclusion, as a policy task, the government should prepare laws and system to enhance the prevention and relief of damages and protection of the rights and interests of air service consumers, and establish and implement the consumer-centric policy for the advancement of air service.

• Journal of the Korean Wood Science and Technology
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• 제7권2호
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• pp.3-30
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• 1979

Larch ($\underline{Larix}$ $\underline{leptolepis}$ GORDON), one of the major afforestation species in Korea in view of its growing stock and rate of growth, is not favored as a raw material for pulp due to its low yield of pulp and difficulties with bleaching arising from the high content of extractives in wood, and the high heartwood ratio and the active phenolics, respectively. The purpose of this study is to investigate the characteristics of firstly pulping with various additives of cellulose protector for the yield of pulp, and secondly bleaching with oxygen for chlotination-alkali extraction of five stage-sequence to reduce chlorine compounds in bleaching effluents. The kraft cooking liquor for five age groups of larchwood was 18 percent active alkali with 25 percent sulfidity and 5 : 1 liquor-to-wood ratio, and each soda liquor for sap-and heart-wood of the 15-year-old larchwood was 18 percent alkali having one of the following cellulose protectors as the additive; magnesium sulfate ($MgSO_4$, 2.5%), zinc sulfate ($ZnSO_4$, 2.5%), aluminium sulfate ($Al_2(SO_4)_3$, 2.5%), potasium iodide (KI, 2.5%), hydroquinone (HQ, 2.5%), anthraquinone (AQ, 0.1%) and ethylene diamine (EDA, 2.5%). Then each anthraquinone-soda liquor for the determination of suitable cooking condition was the active alkali level of 15, 17 and 19 percent with 1.0, 0.5 and 0.1 percent anthraquinone, respectively. The cooking procedure for the pulps was scheduled to heat to 170$^{\circ}C$ in 90 minutes and to cook 90 minutes at the maximum temperature. The anthraquinone-soda pulps from both heartwood and sapwood of 15-year-old larchwood prepared with 0.5 percent anthraquinone and 18 percent active alkali were bleached in a four-stage sequency of OCED. (O: oxygen bleaching, D: chlorine dioxide bleaching and E: alkali extraction). In the first stage oxygen in atmospheric pressure was applied to a 30 percent consistency of pulp with 0.1 percent magnesium oxide (MgO) and 3, 6, and 9 percent sodium hydroxide on oven dry base, and the bleached results were compared pulps bleached under the conventional CEDED (C: chlorination). The results in the study were summarized as follows: 1. The screened yield of larch kraft pulp did not differ from particular ages to age group, but heartwood ratio, basic density, fiber length and water-extractives contents of wood and the tear factor of the pulp increased with increasing the tree age. The total yield of the pulp decreased. 2. The yield of soda pulp with various chemicals for cellulose protection of the 15-year-old larchwood increased slightly more than that of pure soda pulp and was slightly lower than that of kraft pulp. The influence of cellulose protectors was similar to the yield of pulps from both sapwood and heartwood. The effective protectors among seven additives were KI, $MgSO_4$ and AQ, for which the yields of screened pulp was as high as that of kraft pulp. Considering the additive level of protector, the AQ was the most effective in improving the yield and the quality of pulp. 3. When the amount of AQ increased in soda cooking, the yield and the quality of the pulp increased but rejects in total yield increased with decreasing the amount of active alkali from 19 to 15 percent. The best proportion of the AQ seemed to be 0.5 percent at 17 percent active alkali in anthraquinone-soda pulping. 4. On the bleaching of the AQ-soda pulp at 30 percent consistency with oxygen of atomospheric pressure in the first stage of the ODED sequence, the more caustic soda added, the brighter bleached pulp was obtained, but more lignin-selective bleaching reagent in proportion to the oxygen was necessary to maintain the increased yield with the addition of anthraquinone. 5. In conclusion, the suitable pulping condition for larchwood to improve the yield and quality of the chemical pulp to the level for kraft pulp from conventional process seemed to be. A) the selection of young larchwood to prevent decreasing in yield and quality due to the accumulation extractives in old wood, B) the application of 0.5 percent anthraquinone to the conventional soda cooking of 18 percent active alkali, and followed, C) the bleaching of oxygen in atmospheric pressure on high consistency (30%) with 0.1 percent magnesium oxide in the first stage of the ODED sequence to reduce the content of chlorine compounds in effluent.

• Korean small business review
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• 제31권2호
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• pp.103-120
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• 2009

As business incubation centers (BICs) have been operating for more than 10 years in Korea, many early stage startups tend to use the services provided by the incubating centers. BICs in Korea have accumulated the knowledge and experience in the past ten years and their services have been considerably improved. The business incubating service has three facets : (1) business infrastructure service, (2) direct service, and (3) indirect service. The mission of BICs is to provide the early stage entrepreneurs with the incubating service in a limited period time to help them grow strong enough to survive the fierce competition after graduating from the incubation. However, the incubating services sometimes fail to foster the independence of new startup companies, and raise the dependence of many companies on BICs. Thus, the dependence on BICs is a very important factor to understand the survival of the incubated startup companies after graduation from BICs. The purpose of this study is to identify the main factors that influence the firm's dependence on BICs and to characterize the relationships among the identified factors. The business incubating service is a core construct of this study. It includes various activities and resources, such as offering the physical facilities, legal service, and connecting them with outside organizations. These services are extensive and take various forms. They are provided by BICs directly or indirectly. Past studies have identified various incubating services and classify them in different ways. Based on the past studies, we classify the business incubating service into three categories as mentioned above : (1) business infrastructure support, (2) direct support, and (3) networking support. The business infrastructure support is to provide the essential resources to start the business, such as physical facilities. The direct support is to offer the business resources available in the BICs, such as human, technical, and administrational resources. Finally, the indirect service was to support the resource in the outside of business incubation center. Dependence is generally defined as the degree to which a client firm needs the resources provided by the service provider in order to achieve its goals. Dependence is generated when a firm recognizes the benefits of interacting with its counterpart. Hence, the more positive outcomes a firm derives from its relationship with the partner, the more dependent on the partner the firm must inevitably become. In business incubating, as a resident firm is incubated in longer period, we can predict that her dependence on BICs would be stronger. In order to foster the independence of the incubated firms, BICs have to be able to manipulate the provision of their services to control the firms' dependence on BICs. Based on the above discussion, the research model for relationships between dependence and its affecting factors was developed. We surveyed the companies residing in BICs to test our research model. The instrument of our study was modified, in part, on the basis of previous relevant studies. For the purposes of testing reliability and validity, preliminary testing was conducted with firms that were residing in BICs and incubated by the BICs in the region of Gwangju and Jeonnam. The questionnaire was modified in accordance with the pre-test feedback. We mailed to all of the firms that had been incubated by the BICs with the help of business incubating managers of each BIC. The survey was conducted over a three week period. Gifts (of approximately ₩10,000 value) were offered to all actively participating respondents. The incubating period was reported by the business incubating managers, and it was transformed using natural logarithms. A total of 180 firms participated in the survey. However, we excluded 4 cases due to a lack of consistency using reversed items in the answers of the companies, and 176 cases were used for the analysis. We acknowledge that 176 samples may not be sufficient to conduct regression analyses with 5 research variables in our study. Each variable was measured through multiple items. We conducted an exploratory factor analysis to assess their unidimensionality. In an effort to test the construct validity of the instruments, a principal component factor analysis was conducted with Varimax rotation. The items correspond well to each singular factor, demonstrating a high degree of convergent validity. As the factor loadings for a variable (or factor) are higher than the factor loadings for the other variables, the instrument's discriminant validity is shown to be clear. Each factor was extracted as expected, which explained 70.97, 66.321, and 52.97 percent, respectively, of the total variance each with eigen values greater than 1.000. The internal consistency reliability of the variables was evaluated by computing Cronbach's alphas. The Cronbach's alpha values of the variables, which ranged from 0.717 to 0.950, were all securely over 0.700, which is satisfactory. The reliability and validity of the research variables are all, therefore, considered acceptable. The effects of dependence were assessed using a regression analysis. The Pearson correlations were calculated for the variables, measured by interval or ratio scales. Potential multicollinearity among the antecedents was evaluated prior to the multiple regression analysis, as some of the variables were significantly correlated with others (e.g., direct service and indirect service). Although several variables show the evidence of significant correlations, their tolerance values range between 0.334 and 0.613, thereby demonstrating that multicollinearity is not a likely threat to the parameter estimates. Checking some basic assumptions for the regression analyses, we decided to conduct multiple regression analyses and moderated regression analyses to test the given hypotheses. The results of the regression analyses indicate that the regression model is significant at p < 0.001 (F = 44.260), and that the predictors of the research model explain 42.6 percent of the total variance. Hypotheses 1, 2, and 3 address the relationships between the dependence of the incubated firms and the business incubating services. Business infrastructure service, direct service, and indirect service are all significantly related with dependence (β = 0.300, p < 0.001; β = 0.230, p < 0.001; β = 0.226, p < 0.001), thus supporting Hypotheses 1, 2, and 3. When the incubating period is the moderator and dependence is the dependent variable, the addition of the interaction terms with the antecedents to the regression equation yielded a significant increase in R2 (F change = 2.789, p < 0.05). In particular, direct service and indirect service exert different effects on dependence. Hence, the results support Hypotheses 5 and 6. This study provides several strategies and specific calls to action for BICs, based on our empirical findings. Business infrastructure service has more effect on the firm's dependence than the other two services. The introduction of an additional high charge rate for a graduated but allowed to stay in the BIC is a basic and legitimate condition for the BIC to control the firm's dependence. We detected the differential effects of direct and indirect services on the firm's dependence. The firms with long incubating period are more sensitive to indirect service positively, and more sensitive to direct service negatively, when assessing their levels of dependence. This implies that BICs must develop a strategy on the basis of a firm's incubating period. Last but not least, it would be valuable to discover other important variables that influence the firm's dependence in the future studies. Moreover, future studies to explain the independence of startup companies in BICs would also be valuable.

• Asia Marketing Journal
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• 제14권1호
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• pp.83-98
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• 2012

In a market where new and used cars are competing with each other, we would run the risk of obtaining biased estimates of cross elasticity between them if we focus on only new cars or on only used cars. Unfortunately, most of previous studies on the automobile industry have focused on only new car models without taking into account the effect of used cars' pricing policy on new cars' market shares and vice versa, resulting in inadequate prediction of reactive pricing in response to competitors' rebate or price discount. However, there are some exceptions. Purohit (1992) and Sullivan (1990) looked into both new and used car markets at the same time to examine the effect of new car model launching on the used car prices. But their studies have some limitations in that they employed the average used car prices reported in NADA Used Car Guide instead of actual transaction prices. Some of the conflicting results may be due to this problem in the data. Park (1998) recognized this problem and used the actual prices in his study. His work is notable in that he investigated the qualitative effect of new car model launching on the pricing policy of the used car in terms of reinforcement of brand equity. The current work also used the actual price like Park (1998) but the quantitative aspect of competitive price promotion between new and used cars of the same model was explored. In this study, I develop a model that assumes that the cross elasticity between new and used cars of the same model is higher than those amongst new cars and used cars of the different model. Specifically, I apply the nested logit model that assumes the car model choice at the first stage and the choice between new and used cars at the second stage. This proposed model is compared to the IIA (Independence of Irrelevant Alternatives) model that assumes that there is no decision hierarchy but that new and used cars of the different model are all substitutable at the first stage. The data for this study are drawn from Power Information Network (PIN), an affiliate of J.D. Power and Associates. PIN collects sales transaction data from a sample of dealerships in the major metropolitan areas in the U.S. These are retail transactions, i.e., sales or leases to final consumers, excluding fleet sales and including both new car and used car sales. Each observation in the PIN database contains the transaction date, the manufacturer, model year, make, model, trim and other car information, the transaction price, consumer rebates, the interest rate, term, amount financed (when the vehicle is financed or leased), etc. I used data for the compact cars sold during the period January 2009- June 2009. The new and used cars of the top nine selling models are included in the study: Mazda 3, Honda Civic, Chevrolet Cobalt, Toyota Corolla, Hyundai Elantra, Ford Focus, Volkswagen Jetta, Nissan Sentra, and Kia Spectra. These models in the study accounted for 87% of category unit sales. Empirical application of the nested logit model showed that the proposed model outperformed the IIA (Independence of Irrelevant Alternatives) model in both calibration and holdout samples. The other comparison model that assumes choice between new and used cars at the first stage and car model choice at the second stage turned out to be mis-specfied since the dissimilarity parameter (i.e., inclusive or categroy value parameter) was estimated to be greater than 1. Post hoc analysis based on estimated parameters was conducted employing the modified Lanczo's iterative method. This method is intuitively appealing. For example, suppose a new car offers a certain amount of rebate and gains market share at first. In response to this rebate, a used car of the same model keeps decreasing price until it regains the lost market share to maintain the status quo. The new car settle down to a lowered market share due to the used car's reaction. The method enables us to find the amount of price discount to main the status quo and equilibrium market shares of the new and used cars. In the first simulation, I used Jetta as a focal brand to see how its new and used cars set prices, rebates or APR interactively assuming that reactive cars respond to price promotion to maintain the status quo. The simulation results showed that the IIA model underestimates cross elasticities, resulting in suggesting less aggressive used car price discount in response to new cars' rebate than the proposed nested logit model. In the second simulation, I used Elantra to reconfirm the result for Jetta and came to the same conclusion. In the third simulation, I had Corolla offer $1,000 rebate to see what could be the best response for Elantra's new and used cars. Interestingly, Elantra's used car could maintain the status quo by offering lower price discount ($160) than the new car ($205). In the future research, we might want to explore the plausibility of the alternative nested logit model. For example, the NUB model that assumes choice between new and used cars at the first stage and brand choice at the second stage could be a possibility even though it was rejected in the current study because of mis-specification (A dissimilarity parameter turned out to be higher than 1). The NUB model may have been rejected due to true mis-specification or data structure transmitted from a typical car dealership. In a typical car dealership, both new and used cars of the same model are displayed. Because of this fact, the BNU model that assumes brand choice at the first stage and choice between new and used cars at the second stage may have been favored in the current study since customers first choose a dealership (brand) then choose between new and used cars given this market environment. However, suppose there are dealerships that carry both new and used cars of various models, then the NUB model might fit the data as well as the BNU model. Which model is a better description of the data is an empirical question. In addition, it would be interesting to test a probabilistic mixture model of the BNU and NUB on a new data set.

• Applied Biological Chemistry
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• 제17권1호
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• pp.1-30
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• 1974

Present study was undertaken to elucidate the relationship between uptake of nutrients and photosynthetic activities, and the translocation of several mineral nutrients in rice plants which were grown under different cultural conditions, utilizing radioactive tracer technique. Particular emphasis was placed on the analysis of patterns of nutrient uptake, the relationship between nutritional conditions and yield components. For this, rice plants grown on either low or high yielding fields at different growth stage were subjected to this study. The results are summarized as follows; 1. Varietal difference was observed in the uptake of potassium and phosphorus. Kusabue and Jinheung had good capacity but Paldal had rather poor capacity for the uptake of the both nutrients. 2. For rice plants, a high positive correlation was found between the oxidation of alpha plaus-naphthylamine by root and uptake of phosphorus. 3. Carbon assimilation rate repended on rice varieties. It was high in Noindo, Gutaenajuok #3 Suweon #82 and Jinheung but low in Taegujo, Kwanok, Yugu #132 etc. 4. Heavy application of nitrogen increased carbon assimilation in rice plants but this also depressed translocation of certain carbohydrates to ears. 5. Carbon assimilation wan greatly hampered in rice plants deficient in magnesium, phosphorus or potassium. 6. Total dry matter after ear formation stage, was much higher in rice plants grown in high yielding fields than those grown in low yielding fields. 7. Leaf area index(LAI) reached maximum at heading stage and decreased thereafter in high yielding fields. But in low yielding fields, it reached maximum before heading and sharply decreased thereafter due to early senescence of lower leaves. 8. In general, light transmission ratio (LTR) of leaves was higher in the early growth stage and lower in later stages. Higher ratio of LTR to leaf area index, was found in the rice grown in high yielding fields than those in low yielding fields. 9. Net photosynthetic activity decreased with the increase in leaf area index but was higher in high yielding fields than in low yielding fields. 10. After the ear formation stage, nitrogen, potassium and silicon as weil as $K_2O/N$ in straw were higher in high yielding fields than those in low yielding fields. 11. Nitrogen, phosphorus, potassium and magnesium taken up by rice plants in low yielding fields before heading stage were readily translocated to ears than those in high yielding fields. This suggests greater redistribution of nutrients in straw occurs due to lower uptake, in later growth stages, by rice plants grown in low yielding fields and hence results in early senescence due to nutrient deprivation. 12. In the high yielding fields nitrogen uptake by rice was slow but continuous throughout the life of the plants resulting in a large uptake even after heading. But, in low yielding fields the uptake was fast before heading and slow after heading. 13. A high positive correlation was found between the contents of nitrogen and potassium in the straw at heading stage and grain yield. Positive correlation was also found to hold between the contents of potassium, silicon, $K_2O/N$, $SiO_2/N$ in the straw at harvesting stage, and grain yield. 14. Carbon assimilation was greately hampered in rice plants deficient in magensium, phosphorus or potassium. 15. Uptake of nitrogen, phosphorus, potassium, silicon and manganese by rice was considerably higher in high yielding fields and reached maximum at ear formation stage. 16. In rice, a high positive correlation was discovered between total uptake of nitrogen, phosphorus, potassium, calcium, magnesium, silicon, manganese at harvesting stage and grain yield. 17. In rice, a high positive correlation was found between the total uptake of nitrogen, phosphorus, potassium, calcium, magnesium, silicon at harvesting stage, and number of spikelets per $3.3\;m^2$. In addition, a correlation was found between the total uptake of nitrogen and potassium and number of panicles per hill.