• 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.

• Journal of Korean Society of Forest Science
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• v.96 no.3
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• pp.259-268
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• 2007

This study was conducted to produce forest thematic maps and estimate forest statistics for Pyeongchang Gun using the kNN technique, which has been applied to produce thematic maps of variables of interest including unobserved plots by combining field plot data, remotely sensed data and other digital map data in forest inventories. The estimation errors for three horizontal reference areas (HRAs), whose radii are 20, 40 and 60 km respectively, were compared. Although the precision for the 40 km radius was lower compared to that for the 60 km radius, the 40 km radius was found to be an efficient HRA because their difference in precision was modest. At a value of k=5 nearest neighbors for the selected HRA, the overall accuracy was high. As a result, using the k=5 neighbors within the HRA of 40 km radius, thematic maps of number of trees, basal area, and growing stock per hectare were generated. As compared to the forest statistics based on field sample plots, the estimated means of each parameter from the produced maps were underestimated.

• Journal of Korean Society of Forest Science
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• v.104 no.3
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• pp.427-433
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• 2015

This study was conducted to provide a method of establishing two-storied forests by the adjustment of stand structures in natural deciduous forests of Pyeongchang area. Three permanent sampling plots of 0.09 ha were established in study site and some tree variables were measured in each sampling plot before the treatment of two-storied system. Stand attributes and stand structures before treatment were estimated based on the data measured in sampling plots. The results indicate that the current stand status is different from typical stand structures of two-storied forests. A simulation technique was applied to predict stand attributes and stand structures after the treatment of two-storied system. Results suggest that significant time is required to accomplish target stand structures even after applying the treatment of two-storied system. Number of trees in the upper canopy class after treatment was predicted to be 170 trees/ha, which adequately meets the target of two-storied forests. It was predicted, however, that the lower canopy class trees has much less trees compared with the typical stand structures of two-storied forests. This problem could be solved with ingrowth of infant trees over time or by under-planting of tolerant species. It is confirmed that the target growing stock volumes of the upper canopy class should be approximately $150m^3/ha$ considering stand status after treatment. It is predicted that twenty years of conversion period is required to accomplish this goal. The changes in stand structures over time should be assessed based on stand inventory carried out every five years, and additional treatments for inducing two-storied forests should be applied if necessary.

• Journal of Korean Society of Forest Science
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• v.87 no.2
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• pp.239-252
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• 1998

Based on forestry inventory data and various informations, this study was conducted to analyze the silvicultural activities by distance classes from forest road and to evaluate their effects in the area of Mt. Gari managed by Chunchon Regional Office of Northern Forest Management Office. The results were summarized as follows; 1) Most harvesting practice(67.9%) was done within 500m from forest roads, in the order of Pumgul, Saorang, and Kongkol forest road. And thinning practice was not related to the distance from forest road, produced $440.6m^3$, 35.7% of total thinning volume within 1,000m width along the forest roads. 2) Planting of 530,461 seedlings, 66.8% of total planting stock, in 176.9ha, 66.6% of total area within 1,000m from forest road, and supplementary planting of 46,243 seedlings was done in 15.4ha, 42.9% of total area within 500m from forest road. Areas and numbers of seedlings of two planting practices were in the order of Pumgul and Byungatur forest road. 3) Tending operation was done in 330.0ha, 60.3% of total area within 500m from forest road, and pre-commercial thinning was done in 693.6ha, 71.2% of total area. Areas of intermediate cutting practices were in the order of Pumgul, Korkol, and Saorang forest road.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.17 no.8
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• pp.352-362
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• 2016

Today, it appears that the rapid advances in technology have allowed broadening both the system technology and the business opportunities in the rail industry. Owing to the developments in technology and the industry, and also due to the hearth, the latest high-speed trains and a variety of unattended operations in rail systems are being developed and are operational. In particular, this study covers the existing railway rolling stock and signaling systems that operate in an environment more complex than the concept of localized management, so the introduction of a new signaling system is needed. In addition, developments based on the existing signal system concepts for passenger railways need to minimize human injury. In this study, to participate in the development of new systems in a variety of domains and to provide an integrated common vision methodology as an engineer on the basis of efficient signal system design and safety would like to present the methodology for action. Therefore, each different linkage through the next new domain zone system design: design through to secure the integrity of safety than can secure methodology.

• Journal of Ecology and Environment
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• v.41 no.12
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• pp.336-344
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• 2017

Background: Because of climate change, interest in the development of carbon pools has increased. In agricultural ecosystems, which can be more intensively managed than forests, measures to control carbon dioxide ($CO_2$) emission and absorption levels can be applied relatively easily. However, crop residues may be released into the atmosphere by decomposition or combustion. If we can develop scientific management techniques that enable these residues to be stocked on farmland, then it would be possible to convert farmlands from carbon emission sources to carbon pools. We analyzed and investigated soil respiration (Rs) rate characteristics according to input of carbonized residue of red peppers (Capsicum annuum L.), a widely grown crop in Korea, as a technique for increasing farmland carbon stock. Results: Rs rate in the carbonized biomass (CB) section was $226.7mg\;CO_2\;m^{-2}h^{-1}$, which was 18.1% lower than the $276.9mg\;CO_2\;m^{-2}h^{-1}$ from the red pepper residue biomass (RB) section. The Rs rate of the control was $184.1mg\;CO_2\;m^{-2}h^{-1}$. In the following year, Rs in the CB section was $204.0mg\;CO_2\;m{-2}h^{-1}$, which was 38.2% lower than the $330.1mg\;CO_2\;m^{-2}h^{-1}$ from the RB section; the control emitted $198.6mg\;CO_2\;m^{-2}h^{-1}$. Correlation between Rs and soil temperature ((Ts) at a depth of 5 cm) was $R^2=0.51$ in the RB section, which was higher than the other experimental sections. A comparison of annual decomposition rates between RB and CB showed a large difference, 41.4 and 9.7%, respectively. The results showed that carbonization of red pepper residues reduced the rates of decomposition and Rs. Conclusions: The present study confirmed that the Rs rate can be reduced by carbonization of residue biomass and putting it in the soil and that the Rs rate and Ts (5 cm) were positively correlated. Based on the results, it was determined that approximately $1.2t\;C\;ha^{-1}$ were sequestered in the soil in the first year and $3.0t\;C\;ha^{-1}$ were stored the following year. Therefore, approximately $1.5t\;C\;ha^{-1}year^{-1}$ are expected to be stocked in the soil, making it possible to develop farmlands into carbon pools.

• Journal of Digital Convergence
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• v.11 no.11
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• pp.191-196
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• 2013

The proportion of small and medium sized enterprises based on the number of corporations in China is 99%, the number of employees is 80%, and the proportion of GDP is 60%. These facts show that small and medium sized enterprises have an very significant effect on the economic growth of China. However, most of the researches conducted so far have studied large corporations, thus, there are relatively insufficient researches on the determinant of the capital structure of small and medium sized enterprises. Therefore, the purpose of this paper is to confirm the factors that determine the capital structure of small and medium sized enterprises in China. To achieve this purpose, we performed multiple regression method to 45 small and medium sized manufacturing enterprises listed on the Shenzhen Stock Exchange of China. Results of this study are as follows. First, the growth appeared to have a significant positive effect to the debt ratio in 1% significance level. Second, the profitability appeared to have a significant negative effect to debt ratio in 1% significance level. Third, the firm size appeared to have no effect on the debt ratio. Fourth, the secured value and tax shield effect by non-debt appeared to have a weak positive effect on the debt ratio, however these variables showed statistical insignificant.

• The KIPS Transactions:PartA
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• v.19A no.1
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• pp.51-60
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• 2012

IC(Integrated circuits)card, generally be named smard card, embedded MPU(Micro Processor Unit) of small-size, memory, EEPROM, Card Operating System(COS) and security algorithm. The IC card is used in almost all industry such as a finance(credit, bank, stock etc.), a traffic, a communication, a medical, a electronic passport, a membership management and etc. Recently, a application field of IC card is on the increase by method for payments of T-commerce, as T-commerce is becoming a new growth engine of the broadcating industry by trend of broadcasting and telecommunication convergence, smart mechanization of TV. For example, we can pay in IC credit card(or IC cash card) on T-Commerce. or we can be provided TV banking service in IC cash card such as ATM. However, so far, T-commerce payment services have weakness in security such as storage and disclosure of card information as well as dropping sharply about custom ease because of taking advantage of card information input method using remote control. To solve this problem, This paper developed processing payment module for implementing TV electronic payment system using IC credit card payment standard, EMV.