• Journal of Navigation and Port Research
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• v.48 no.2
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• pp.109-115
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• 2024

To develop a shipping company insolvency prediction model, we sampled shipping companies that closed between 2005 and 2023. In addition, a closed company and a normal company with similar asset size were selected as a paired sample. For this study, data of a total of 82 companies, including 42 closed companies and 42 general companies, were obtained. These data were randomly divided into a training set (2/3 of data) and a testing set (1/3 of data). Training data were used to develop the model while test data were used to measure the accuracy of the model. In this study, a prediction model for Korean shipping insolvency was developed using financial ratio variables frequently used in previous studies. First, using the LASSO technique, main variables out of 24 independent variables were reduced to 9. Next, we set insolvent companies to 1 and normal companies to 0 and fitted logistic regression, LDA and QDA model. As a result, the accuracy of the prediction model was 82.14% for the QDA model, 78.57% for the logistic regression model, and 75.00% for the LDA model. In addition, variables 'Current ratio', 'Interest expenses to sales', 'Total assets turnover', and 'Operating income to sales' were analyzed as major variables affecting corporate insolvency.

• Asian-Australasian Journal of Animal Sciences
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• v.7 no.1
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• pp.31-39
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• 1994

The indonesian government wishes to increase farmers' by encouraging dairy farming. Since 1980, imported dairy cattle have been distributed on credit. Survey data from 1990 were used to study the average milk sales per cow and the economic parameters of dairy production of a sample of farm households on seven milk cooperatives East Java Province, in three agro-ecological areas, oriented to sugar cane, cassava and horticulture, respectively. in general, dairy production proved not to be economically attractive as returns to labour were similar to the rates for agricultural labour. The returns showed marked differences among the three areas studied. They were highest in the horticultural area. Analysis of the dairy units according to size showed a tendency for inputs as well as revenue per cow to decline as herd size increased. It is argued that a further increase in milk production in East Java can be stimulated by raising the farm gate price of milk, or by expanding dairy production into suitable, new areas.

• Journal of Korean Society for Quality Management
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• v.41 no.4
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• pp.601-610
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• 2013

Purpose: The purpose of this paper is to analyze the relationship between R&D investment and growth rate of manufacturing firms in Incheon. Methods: The balanced panel data of 246 firms which have existed for the period 2001-2012 are constructed. As a method of analysis, fixed effects panel data model is used. Results: There is a one year lag in the relationship between R&D intensity and the subsequent sales growth of firms and its relation depends on the firms' characteristics. Conclusion: We suggest the emphasis on R&D investment for firms' growth and the differentiated R&D program based on firm size. This article has the limitation that various types of R&D investment cannot be included in this analysis.

• Journal of Korea Technology Innovation Society
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• v.4 no.2
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• pp.224-241
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• 2001

This paper is an inquiry into the patterns of technological innovation of bio - industry in Korea in comparison with the worldwide patterns. In another words, this study wants to check whether the patterns of technological innovation of bio - industry in Korea differ front those in advanced countries or not. The comparison is based on the theory of science - based industry asserted by Seol (2001) and Cho (2001). There are no specific difference in the patterns of technological innovation such as science - based innovation, capitalization of science, industries leading by scientific fields, the importance of venture firms for commercialization, high level of R&D expense to sales. Also the order of fields by size is similar to worldwide patterns. But the size of microbiology is bigger than that of worldwide patterns. The strength in microbiology may be the country specific features of Korea, like platform technology of Germany.

• Journal of Institute of Control, Robotics and Systems
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• v.20 no.7
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• pp.750-755
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• 2014

Product shortage which causes backordering and/or lost sales cost is very popular in chemical industries, especially in commodity polymer business. This study deals with backordering cost in the supply chain optimization model under the framework of process-inventory network. Classical economic order quantity model with backordering cost suggested optimal time delay and lot size of the final product delivery. Backordering can be compensated by advancing production/transportation of it or purchasing substitute product from third party as well as product delivery delay in supply chain network. Optimal solutions considering all means to recover shortage are more complicated than the classical one. We found three different solutions depending on parametric range and variable bounds. Optimal capacity of production/transportation processes associated with the product in backordering can be different from that when the product is not in backordering. The product shipping cycle time computed in this study was smaller than that optimized by the classical EOQ model.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.23 no.58
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• pp.101-111
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• 2000

This study uses financial statements on several hundred companies listed in the Korea Stock Market to analyze trends in inventory turnover ratios and examine the effect of inventory performance on the profitability of the companies. Statistical analyses are done to determine if there have been significant changes in inventory turnover ratios and how turnover ratio pattern varied by factors such as industry, size of the firm, and the effectiveness of previous inventory management. Inventory turnover ratios decreased for four consecutive years and were found to vary by industry. Also it is proved that there was statistically significant relationship between the size of the firm and the average level of inventory as a fraction of sales. Regression analysis is done to investigate the relationship between the inventory management performance and profitability of companies and it is found that improvement in inventory level affected profitability of the companies.

• Journal of Forest and Environmental Science
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• v.31 no.1
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• pp.38-46
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• 2015

The stumpage price changes were calculated and analyzed from the data collected by Timber Mart-South from 1998 to 2007. We analyzed the relationship between pine sawtimber stumpage prices and timber sale characteristics using hedonic pricing method. Quadratic transformation was employed for sale size and contract length. Stumpage prices increased with sale size, contract length, bid sales, and the number of bidders. The presence of above average or excellent grade, market conditions, and logging conditions also are positively related to stumpage prices.

• IE interfaces
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• v.7 no.3
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• pp.239-248
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• 1994

The main objective of this study is to develop a model which describe and explain R&D productivity (Researchitivity measured by patents) in Korea four manufacturing industries-electric & electronic, machine, textile, industrial chemicals-during the last ten years. The model largely focuses on the variables related to R&D investment in order to investigate the efficiency of R&D. The results suggest that there is associated with a significant positive correlation between Researchitivity and industrial size. There are interaction effects between the Researchitivity and the sales volume. Researchitivity is positively correlated with the average wage of R&D employees. It also founded that Researchitivity is more closely associated with investment size than industrial nature.

• Journal of Korean Institute of Industrial Engineers
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• v.33 no.3
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• pp.303-311
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• 2007

This study deals with a type of vehicle routing problem faced by manager of some department stores during peak sales periods. The problem is to find a set of traveling paths of vehicles that leave a department store and arrive at a destination specified for each vehicle after visiting customers without violating time and capacity constraints. The mathematical model is formulated with the objective of maximizing the sum of the rewards collected by each vehicle. Since the problem is known to be NP-hard, a heuristic algorithm is developed to find the solution. The performance of the algorithm is compared with the optimum solutions obtained from CPLEX for small size problems and a priority-based Genetic Algorithm for large size problems.

• Korean Journal of Organic Agriculture
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• v.25 no.1
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• pp.53-69
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• 2017

The organic farming was begun with principles and values like environmental friendliness, symbiosis, and cooperation and circulation. And there has cut keen market competition, as sales and market size of organic agricultural products have been much larger. Thus producers and consumers have kept up with the market trend making light of the philosophy and principle of organic agriculture. So cases of fraud or false certification have been increased since 2010. Accordingly, not a few consumers have distrusted of the safety of organic agricultural products. And the status of organic agriculture has shown downward trend and market size of organic agricultural products has been reduced since 2012. Thus the income of organic agricultural farmers hasn't been increased. It is thought that present organic agriculture fell into the crisis. Now, organic agricultural farmers should practice farming methods based upon the philosophy and principle of organic agriculture in order to overcome its crisis.