• Journal of Distribution Science
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• v.10 no.2
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• pp.7-17
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• 2012

The aim of this study is to empirically explore micro and macroeconomic factors affecting the Pakistani sugar industries and searching the energy potential of this industry, through the survey of literature. The empirical part has been explored by employing Vector Autoregression (VAR), Granger Causality tests and simultaneous equation models through quarterly data for the period of 1991q2-2008q4. The study also aims to devise policies for the development of sugar industries and identify its growing importance for the energy sector of Pakistan. Empirical tests applied on the domestic prices of sugar, domestic interest rates, and exchange rate, productive capacities of sugar mills, per capita income, world sugar prices on cultivable area and sugar production reveal very useful results. Results reveal an improvement of productive capacity of the sugar mills of Pakistan on account of increasing crushing capacity of this sector. Negative effect of rising wholesale prices on the harvesting area was also observed. Profit earnings of the sugar mills significantly increase with the rise of sugar prices but the system does not exist for the farming community to share the rising prices of sugar. The models indicate positive and significant effect of local prices of sugar on its volume of import. Another of the findings of this study positively relates the local sugar markets with the international prices of sugar. Additionally, the causality tests results reveal exchange rate, harvesting area and overall output of sugarcane to have significant effects on the local prices of sugar. Similarly, import of sugar, interest rate, per capita consumption of sugar, per capita national income and the international prices of sugar also significantly affect currency exchange rate of Pakistani rupee in terms of US$. The study also finds sugar as an essential and basic necessity of the Pakistani consumers. That is why there are no significant income and price effects on the per capita consumption of sugar in Pakistan. All the empirical methods reiterate the relationship of variables. Economic policy makers are recommended to improve governance and management in the production, stock taking, internal and external trading and distribution of sugar in Pakistan using bumper crop policies. Macroeconomic variables such as interest rate, exchange rate per capita income and consumption are closely connected with the production and distribution of sugar in Pakistan. The cartelized role of the sugar industries should also be examined by further studies. There is need to further explore sugar sector of Pakistan with the perspective of energy generation through this sector; cartelized sugar markets in Pakistan and many more other dimensions of this sector. Exact appraisal of sugar industries for energy generation can be done appropriately by the experts from applied sciences.

• Fisheries and Aquatic Sciences
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• v.23 no.6
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• pp.16.1-16.10
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• 2020

This study was conducted in Lake Hayq between January and December 2018. The objectives of this study were to determine the growth, condition, sex ratio, fecundity, length at first sexual maturity (L₅₀), and spawning seasons of common carp (Cyprinus carpio). Monthly fish samples of C. carpio were collected using gillnets of stretched mesh sizes of 4, 6, 7, 8, 10, and 13 cm and beach seines of mesh size of 6 cm. Immediately after the fish were captured, total length (TL) and total weight (TW) for each individual were measured in centimeters and grams, respectively, and their relationship was determined using power function. Length at first maturity (L₅₀) was determined for both males and females using the logistic regression model. The spawning season was determined from the frequency of mature gonads and variation of gonadosomatic index (GSI) values of both males and females. Fecundity was analyzed from 67 mature female specimens. The length and weight relationship of C. carpio was TW = 0.015TL^2.93 for females and TW = 0.018TL^2.87 for males that indicate negative allometric growth in both cases. The mean Fulton condition factor (C_F) was 1.23 ± 0.013 for females and 1.21 ± 0.011 for males. The value of C_F in both cases was > 1 that shows both sexes are in good condition. Among the total 1055 C. carpio collected from Lake Hayq, 459 (43.5%) were females and 596 (56.5%) were males. The chi-square test showed that there was a significant deviation between male and female numbers from 1:1 ratio (χ²= 22, df = 11, P > 0.05) within sampling months. The length at first sexual maturity (L₅₀) for females and males were 21.5 and 17.5 cm, respectively. Males mature at smaller sizes than females. The spawning season of C. carpio was extended from February to April, and the peak spawning season for both sexes was in April. The average absolute fecundity was 28,100 ± 17,462. C. carpio is currently the commercially important fish while Nile tilapia fishery has declined in Lake Hayq. Therefore, this baseline data on growth, condition, and reproductive biology of common carp will be essential to understand the status of the population of carp and design appropriate management systems for the fish stock of Lake Hayq, Ethiopia, and adjacent countries.

• Journal of the Korean Society for Railway
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• v.13 no.1
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• pp.58-64
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• 2010

As a modem urban train is getting complex in terms of high-technology in its systems and components, the failure management should be performed with scientific and systematic technique. FMEA is a technique to analyze the failure trends of component parts and influences to the higher level system in order to discover the design incompleteness and potential defects, which is for improving reliability. Especially, FMECA (Failure Mode Effects, and Criticality Analysis) is used in case that the criticality that has an immense influence to the system is important. In case of urban train, in its design and manufacturing steps, FMEA is frequently used as an analysis technique to meet the safety objectives and eliminate potential hazards/failures since the concepts of reliability of train is introduced these days. Though, FMEA technique in the maintenances steps lacks in its investigation and applications yet. FMEA is also not applied to the trains operated by Seoul metro in the design and manufacture steps excepts the newest trains. In this paper, through analyzing the failures/maintenance data of the belt-type door systems used in trains operated in Seoul metro Line 1, which is accumulated in RIMS (Rolling-stock Information Maintenance System), FMEA procedures to the belt-type door engines are proposed. Especially, an effort is made, to approach the detailed FMECA procedures to the door magnet valve and switch and door engine devices which vastly influences the customer safety and satisfaction.

• Journal of Digital Convergence
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• v.11 no.4
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• pp.177-188
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• 2013

This study examines how managerial ownership structure affects the borrower's choice of private versus public debt using 2,608 firm-year data for 2006-2008. This paper investigates the relationship between managerial ownership structure and debt choice. Managerial ownership is measured using number of stocks and unexercised stock-options and debt is classified public and private debt. The results find that there is a positive association between managerial ownership and the private debt dependence and also find that when firms finance additional funds, higher managerial ownership leads managers to choose private debt not public debt. Since private debt can be classified into bank debt and non bank debt, this paper examines the relationship between managerial ownership and a choice of bank debt. The results indicate that managers with higher ownership are more likely to use bank debt over public debt and non bank debt. By examining the relation between managerial ownership and a debt choice, this paper has following contributions. First, this study shows that managerial ownership affects the choice of the source of financing using three different proxies of managerial ownership. Second, this study classified private debt into bank debt and non-bank debt and provide the evidence of preference toward private debt especially bank debt among other financing sources. Finally, there are extensive studies related to capital structure and managerial ownership, but there is little empirical research on the debt choice and managerial ownership. Thus, this paper adds to literature by exploring the effects of managerial ownership on a debt choice.

• Journal of Korean Society of Forest Science
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• v.101 no.2
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• pp.266-278
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• 2012

The objective of this study was developing dynamic stand growth model to predict diameter at breast height (DBH) growth by thinning intensity and cycle for major tree species of South Korea. The yield table, one of static stand growth models, constructed by Korea Forest Service was employed to prepare dynamic stand growth models for 8 tree species. In the process of model development, the thinning type was designated to thinning from below and equations for predicting the DBH change after thinning by different intensities was generated. In addition, stand density (N/ha), age and site index were adopted as explanatory variables for DBH prediction model. Thereafter, using the model, DBH growth under various silvicuture through integrating such equations considering thinning intensities, and cycles. The dynamic stand growth model of DBH developed in this study can provide understanding of effectiveness in forest growth and growing stock when thinning practice is performed in forest. Furthermore, results of this study is also applicable to quantitatively assess the carbon storage sequestration capability.

• Journal of Korean Society of Forest Science
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• v.94 no.3 s.160
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• pp.161-167
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• 2005

Above and belowground biomass for Phyllostachys pubescens was determined in Jinju, Gyeongsangnam-do. Regression analyses of dry weights of culms, foliages, and twigs versus diameter at breast height were used to calculate regression equations of the form of log Y = a + blogX. Total aboveground biomass for Phyllostachys pubescens was 69.7 ton/ha and rhizomes and roots biomass were 13.7 ton/ha and 7.5 ton/ha, respectively. Culms account for about 60% of total aboveground biomass. The aboveground biomass of each component was decreased in the order of culms>foliages>twigs. As diameter at breast height grew thicker, the proportion of culms to total aboveground biomass increased. The proportion of dry weight of culms to green weight gradually increased with height in a bamboo tree and ages. Nutrients (kg/ha) of litter layer were distributed as follows: N(45.1), Ca(17.3), K(6.1), Mg(3.6), P(3.5) and Na(0.7). Nitrogen and K were given much weight in total nutrients of rhizomes and roots. These results will be useful in measuring carbon stock and drawing up management plan to increase it for Phyllostachys pubescens stand.

• Journal of Global Scholars of Marketing Science
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• v.16 no.1
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• pp.117-141
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• 2006

Daily sales volume in retailers seems to be changed because of five-days-work in a week resulting in growth of leisure time in Korea recently. The day of the week effect of sales volume that can not be theoretically explained, which sales pattern varies depending on days systematically and consistently, is so important. Especially the day of the week effect of sales volume exists in which retail branch and the extents of the day of the week effect from the perspective of marketing in retailing is very important. Thus, the purpose of this study was to investigate whether the day of the week effect of sales volume exists in men's clothing retailers and if so, there is difference in daily sales volume. There was insufficient researches in the field of anomaly such as the day of the week effect of sales volume in marketing. For this reason, this study has drawn upon research findings of finance, general demand theory, and previous studies of the day of the week effect in stock markets. In doing so, these works are referenced in theoretical background and applicability in retailing market of this study. This study empirically investigated the day of the week effect of sales volume through the revenues of a men's clothing retailers (P company) in past five years. As the result of this study, the day of the week effect of sales volume existed in men's clothing retailers and the day of the week effect showed positive from Monday to Sunday, which means Sunday, the biggest. Also, the day of the week effect by season was different. The result of this study is expected to provide some helpful evidence that offers effective operational strategies to retailers.

• The Journal of Society for e-Business Studies
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• v.25 no.1
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• pp.65-82
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• 2020

Start-ups often use crowdfunding platforms such as Wadiz to get financing from corporate investors and general public. These platforms include functions to increase participant activity through the number of comments, interest and online word-of-mouth. This study aims to elucidate how these functions related to a participant activity exhibit mediating effects on a success of crowdfunding and an achievement rate of targeted investment amount. To this end, the individual variables such as progress period, target amount, venture company, experience of attracting investment, possession of intellectual property rights, a career of the representative and an award experience of the representative were classified into the project characteristics, the company characteristics and the representative characteristics through not only previous studies but also interviews with investment professionals and platform operators. Afterwards, this study went through an empirical verification process using a structural equation model that has both crowdfunding performance and participant activity, which is the independent and mediating factors of three perspectives, as well as the dependent variables. In other words, this study analyzes how the characteristics of three perspectives affect the participant activity and how the participant activity had the mediating effects on the crowdfunding performance. In addition, it derives how the analysis results mentioned above vary according to business types (internet services, culture/art, manufacturing/distribution) and investment styles (stock type and bond type). It is expected that this study will help not only in deriving the factors affecting the performance of an investment type crowdfunding but also in preparing the measures to increase a participant activity.

• Journal of Digital Convergence
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• v.18 no.5
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• pp.25-31
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• 2020

This study analyzes the effects of aging workforce on human capital and the per capita gross regional domestic product, using regional panel statistics from 1995 to 2017. According to the results of the two-stage least-squares panel regression analysis reflecting the fixed effects by region, the aging of the labor force had no effect on the human capital employment ratio and per capita gross domestic product in the metropolitan cities, but reduced human capital and per capita gross domestic product in the provinces. The share of service businesses had a positive effect on human capital in metropolitan cities, but the effect was not significant in the provinces. Human capital significantly contributed to the increase in per capita gross regional domestic product in the metropolitan cities, but the physical capital stock significantly contributed to the increase in per capita gross regional domestic product in the provinces. The results of this study suggest that the human capital job policy and the per capita regional GDP growth policy due to the aging workforce may be different between metropolitan cities and provinces.

• New & Renewable Energy
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• v.8 no.2
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• pp.33-43
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• 2012

Why solar companies preferred vertical integration of whole value chain? Major solar companies have built internally strong vertical integration of entire PV value chain. We raise a question whether such integration increases the corporate value and whether market situation affects the result. To test these questions, we conducted multi-variant analysis where characteristic factors mainly affect the corporate value measured in terms of Tobin'Q, based on the financial and non-financial data of PV companies listed in US stock market between 2005 and 2010. We hypothesize that since integration increases the overall efficiency but decreases the flexibility to adjust to various market situation, the combined effect of the efficiency gain and the flexibility loss ultimately determines the sign of integration effect on the corporate vale. We infer that the combined effect will be influenced heavily by business cycle, as in boom market (Seller's market) the efficiency gain may be larger than the flexibility loss and vice versa in bust market. We test whether the sign of combined effect changes after the year of 2009 and which factors influence most the sign. Year of 2009 is known as the year when market shifted from Seller's to Buyer's market. We show that 1) integration increases corporate value in general but after 2009 integration significantly decreases the value, 2) the ratios such as Production/Total Cost, Cash turnover period chosen for reversal of the flexibility measure are negatively affect Tobin's Q and especially stronger after 2009. This shows the flexibility improves corporate value and stronger in the recess period (Buyer's market). These results imply that solar company should set up integration strategy considering the tradeoff between efficiency and flexibility and the impact of the business cycle on both factors. Strategy only based on the price competitiveness determined in boom time can bring undesirable outcomes to the company. In addition, Strategic alliances in some value chains as a flexible bondage should be taken in account as complementary choice to the rigid integration.