• Title/Summary/Keyword: Value Management

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An Empirical Study on the Long-Run Performance of Cross-Listings by Multinational Corporations (다국적기업 해외상장의 장기적인 성과에 관한 연구)

  • Kim, Dong-Soon;Park, Sang-An
    • The Korean Journal of Financial Management
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    • v.21 no.2
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    • pp.27-63
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    • 2004
  • Since the 1980s, many multinational corporations have been issuing stocks on foreign stock exchanges, not only to enhance their investor base and liquidity, but also to diversify risks. The phenomenon has also been intensified by the rapid financial globalization and securitization trends. The main purpose of this study is to look into the long-run performance of MNCs' cross-listings of stocks on foreign stock exchanges. We use the event study and cross-sectional regression methods. We obtained some interesting empirical results about the long-run effect of cross-listings. First before the listing data the effect of cross-listing is to increase the underlying stock Vice in the local market. It may be caused by expectation of lower risk and cost of capital. However, after the listing data the stock price has been declining, even if it is not significant. Second, we examine the difference in the long-run cross-listing effect, which may be caused by the listing direction. When listing is made from a less developed market to a more developed market, the effect is better than that in the reverse direction. Furthermore, the effect is worse, when the listing company's home country is the U.S. Third, there is a negative relation between CARs and underlying stock liquidity in the local market, So it implies that a firm, whose underlying stocks are very liquid in the local market should carefully value cross-listing based upon the cost and benefit analysis. Last, but not the least we find that the long-un cross-listing effect is better, when a listing firm's ROE is higher.

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Aesthetic Landscape Assessment Based on Landscape Units in the Han River Riparian Area (경관단위 기반 수변환경의 심미적 평가 - 한강 수변을 대상으로 -)

  • Bae, Min-Ki;Park, Chang-Sug;Oh, Chung-Hyun
    • Journal of the Korean Institute of Landscape Architecture
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    • v.40 no.1
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    • pp.43-56
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    • 2012
  • The purpose of this study was to propose management strategies through aesthetic landscape assessments for landscape units in the Han River riparian(HRR) area. First, this research reclassified the HRR into "natural," "artificial," "agricultural," and mixed landscape types and selected 37 representative case areas(about $1km{\times}1km$). This study found 71 landscape units in consideration of topography and land surface classification. Landscape assessment consisted of landscape quality and landscape integration assessment. The criteria for assessing landscape quality were "naturalness," "interest," "uniqueness," and "landscape function." "Landscape quality" was ranked into five grades using a matrix. The landscape integration assessment consisted of an inner integration assessment in each landscape unit and outer integration assessment among landscape units. As a result of the field study, case sites were found to have 4,288 landscape units and an area of $42.8km^2$. The forest area was found to have the most space with $11,580,905m^2$(27.1%), while the wet lands had just $52,348m^2$(0.1%). In the landscape quality assessment, about 30.5% of the total area consisted of landscape units that scored highest in "naturalness". In the landscape integration assessment, about 39.3% of the total area consisted of landscape units which scored highest in "integration", denoting visual interrelation and harmony. The existence of disparities in landscape quality in accordance with the form of the landscaping was determined using a Oneway ANOVA, with "naturalistic" landscaping scoring the highest and "artificial" landscaping scoring lowest. This study may contribute to making the HRR area a more ecologically sound and visually attractive landscape space. It is recommended that the aesthetical and ecological value of the landscape unit should be assessed simultaneously in the future.

Critical Analysis about Environmental Ethics and Moral Position of Landscape Architecture - Focusing on Eugen C. Hargrove's 'Weak Anthropocentrism' - (조경의 환경윤리에 대한 비판적 해석과 도덕적 위치 - 유진 하그로브의 '약한 인간중심주의'를 중심으로 -)

  • Oh, Chang-Song
    • Journal of the Korean Institute of Landscape Architecture
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    • v.43 no.2
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    • pp.105-113
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    • 2015
  • The theory of landscape architecture applies environmental ethics in order to secure an ecological status. However, environmental ethics that focus on nature conservation excludes landscape architecture as artifacts. In the process, it is hard to identify what landscape architecture insists on as the middle position between humans and nature. Rather, landscape architecture pretends to be an 'agent of nature' and pushes the traditional moral values 'for people.' Therefore, the purpose of this study is to reestablish the anthropocentrism moral position of landscape architecture through critical analysis. Hargrove's weak anthropocentrism' of several environmental ethics branches accepts natural aesthetics(such as landscape architecture) as an ethical virtue. But environmental ethics makes landscape architecture a critical target. For that reason, this study looked into critical contents and objects that in a position to moral, aesthetic and landscape architecture. Critical details are as follows: First, nature is an absolute as an aesthetic and moral value, but landscape architecture is an imitation and takes a relaxed attitude about nature. Second, nature is full of aesthetic substance because it is self-creative, but landscape architecture is designed nature covered human flaws through imagination. Third, environmental management granting techniques in nature generate a moral nihilism. As an argument, environmental ethics overlooked the moral practices of landscape architecture beyond nature another moral aspect of creation and the imagination-and moral aspects of environmental management as 'care' because they rule out 'moral autonomy' and simplify what is considered 'good.' As a result, conservation cannot be the only virtue why the problem of nature in reality cannot be separated from human life. The moral position of landscape architecture based on a 'good life' is more appropriate under anthropocentrism than as a middle position.

Spatial Environment Planning for Ecological Environment Conservation - Centering on an Area in the Gyeonggi Province - (생태환경 보전을 위한 공간환경계획 수립방안 - 경기도 일원에의 사례 적용 -)

  • Choi, Hee-Sun;Park, Ju-hyeon;Kim, Hyeon
    • Journal of the Korean Institute of Landscape Architecture
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    • v.39 no.1
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    • pp.22-34
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    • 2011
  • In recent years, there has been an active movement toward databasing, systematizing, and unifying environmental information. Such efforts facilitate the utilization of spatial environment planning in environment conservation officially planned at the metropolitan and provincial levels. This in turn clarifies the management direction of space, thereby serving as an effective tool with which to not only conserve land, but also provide a reasonable compromise to all the related solutions at odds with one another. As such, this study forwards a method for inclusion of spatial environment planning in environment conservation plans, paying particular attention to the place, with in such a planning method, of the natural ecosystem, arguably the most sensitive arena among environmental factors. Spatial environment planning can be broadly divided as follows: first, basic direction; second, collection of spatial information; third, compilation of status of spatial environment; and fourth, management strategy for spatial environment. In particular, the second phase, namely the collection of spatial information, delineates clearly spatial information hitherto amassed by government agencies at both the national and local levels; the ensuing lists facilitate maximum utilization of the previously accumulated data. Used during the planning phase, status maps should include not only the status of land use(land cover), but also systematic data on the superior resources of the natural ecosystem as well as the status of the given spatial environment. Establishing plans for ecological networks, their conservation, and restoration areas based on the aforementioned aspects, this study sought to formulate ways in which to spatialize environment conservation plans that encompass consideration for the natural ecosystem. Devised based previous studies and examples, the compilation of status and plans as stated, applied to Gyeonggi Province, afforded an examination of the potential applicability and usability of the proposed plans. Ultimately, these will contribute not only to the establishment of plans encompassing consideration for the value and level of significance of the given natural ecosystem in spatial development planning, but also provide fundamental data for investigating appropriateness of plans and validity of location in any regional development plan.

Analysis of Respiratory Motion Artifacts in PET Imaging Using Respiratory Gated PET Combined with 4D-CT (4D-CT와 결합한 호흡게이트 PET을 이용한 PET영상의 호흡 인공산물 분석)

  • Cho, Byung-Chul;Park, Sung-Ho;Park, Hee-Chul;Bae, Hoon-Sik;Hwang, Hee-Sung;Shin, Hee-Soon
    • The Korean Journal of Nuclear Medicine
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    • v.39 no.3
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    • pp.174-181
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    • 2005
  • Purpose: Reduction of respiratory motion artifacts in PET images was studied using respiratory-gated PET (RGPET) with moving phantom. Especially a method of generating simulated helical CT images from 4D-CT datasets was developed and applied to a respiratory specific RGPET images for more accurate attenuation correction. Materials and Methods: Using a motion phantom with periodicity of 6 seconds and linear motion amplitude of 26 mm, PET/CT (Discovery ST: GEMS) scans with and without respiratory gating were obtained for one syringe and two vials with each volume of 3, 10, and 30 ml respectively. RPM (Real-Time Position Management, Varian) was used for tracking motion during PET/CT scanning. Ten datasets of RGPET and 4D-CT corresponding to every 10% phase intervals were acquired. from the positions, sizes, and uptake values of each subject on the resultant phase specific PET and CT datasets, the correlations between motion artifacts in PET and CT images and the size of motion relative to the size of subject were analyzed. Results: The center positions of three vials in RGPET and 4D-CT agree well with the actual position within the estimated error. However, volumes of subjects in non-gated PET images increase proportional to relative motion size and were overestimated as much as 250% when the motion amplitude was increased two times larger than the size of the subject. On the contrary, the corresponding maximal uptake value was reduced to about 50%. Conclusion: RGPET is demonstrated to remove respiratory motion artifacts in PET imaging, and moreover, more precise image fusion and more accurate attenuation correction is possible by combining with 4D-CT.

A Study on Improving Scheme and An Investigation into the Actual Condition about Components of Physical Distribution System (물류시스템 구성요인에 관한 실태분석과 개선방안에 관한 연구)

  • Kim, Kyeong-Cho
    • Journal of Distribution Science
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    • v.7 no.4
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    • pp.47-56
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    • 2009
  • The purpose of this study is to present an alternative improving the efficient and reasonable of the physical distribution system management is influenced by many factors. Therefore, the study depends on the documentary method and survey method to achieve the purpose of this study. The major components of a physical distribution system are refers to as elements, include warehouse·storage system, transportation system, inventory system, physical distribution information system. The factors used in this study are ① factor of product(quality·A/S·added value of product·adaption of product·technical competitive power to other enterprises), ② factor of market(market channel·kinds of customer·physical distribution share), ③ factor of warehouse·storage(warehouse design·size·direction·storage ability·warehouse quality), ④ factor of transportation(promptness·reliability·responsibility·kinds of transportation·cooperation united transportation system·national transportation network), ⑤ factor of packaging (packaging design·material·educating program·pollution degree measure program), ⑥ factor of inventory(ordinary inventory criterion·consistence for inventories record), ⑦ factor of unloaded(unloaded machine·having machine ratio), ⑧ factor of information system (physical distribution quantity analysis·usable computer part), ⑨ factor of physical distribution cost(sales ratio to product) ⑩ factor of physical distribution system(physical distribution center etc). The implication of this study can be summarized as follows: ① In firms that have not adopted a systems integrative approach, physical distribution is a fragmented and often uncoordinated set of activities spread throughout various functions with function having its own set of priorities and measurements. ② The physical distribution is recognized as more an important strategic factor than a simple cost reduction factor, ③ It can be used a strategic competition tool to enterprise.

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Development of A Teaching-Learning Plan for Home Economics Education by Integrated Thematic Instruction(ITI) type (주제 중심 통합(ITI: Integrated Thematic Instruction)형 가정과 의생활영역 교수-학습 과정안 개발)

  • Kim, Nam Eun
    • Journal of Korean Home Economics Education Association
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    • v.29 no.3
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    • pp.141-160
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    • 2017
  • At present, the whole world is characterized by openness, cooperation and integration as a society with information and the world, and it requires creative talents for this. The competitiveness of the nation depends on the cultivation of creative talents. It demands anthropological value by improving the competitiveness of the nation through cultivating creative talents to share and care, not to cultivate creative talents for personal desires and accomplishments. The purpose of this study is to develop a teaching - learning process to develop integrated creative talents by applying the characteristics of integrated education curriculum at the base of the 2015 revised curriculum. To do this, we first extracted the content elements of the Clothing Life area of the revised curriculum from the 1st to 2015 and the contents of the Clothing Life area of the technology and home Economics textbooks to which the 2009 revision curriculum was applied. Five topics were extracted according to content selection criteria And The Theme of 'The selection and management of clothing' was selected. Researcher developed a integrated thematic instruction Home Economics Education Clothing Life teaching - learning process (hereinafter referred to as "the process") focused on the theme of 'selection and management of clothing'. The Process was composed of 5 basic classes [basic inquiry - content 1 - content 2 - depth study - application]. The process considers integration within the curriculum and interdepartmental integration, and aims to improve the personality, creativity, and problem solving ability of consideration and sharing in the course of the integrated class. In detail, the curriculum goals of the home Economics Education curriculum and ITI goals are presented separately in the curriculum developed for each process. At the stage of the class, the element of creativity and the element of personal education were exposed and applied to the class. In Korea, new curriculum has been revised and announced from time to time, making it difficult for the teacher to carry out the class in accordance with the paradigm of change. Home curriculum is closely related to real life, so it is an appropriate subject for an integrated subject. It has the educational significance of the subject in that it allows students to integrate the creative and personal elements that are limited in other subjects. ITI process will be helpful to teachers who need to implement the 2015 revised curriculum in which the theme-centered integrated home Economics education teaching-learning process is newly introduced. It is necessary to follow - up research to verify the effectiveness of how to improve students' problem - solving ability and cultivate creativity.

Growth and Quality of Two Melon Cultivars in Hydroponics Affected by Mixing Ratio of Coir Substrate and Different Irrigation Amount on Spring Season (멜론 봄 재배 시 코이어 배지경에서 배지 혼합 비율과 급액량에 따른 생육 및 품질)

  • Choi, Su hyun;Lim, Mi Yeong;Choi, Gyeong Lee;Kim, So Hui;Jeong, Ho Jeong
    • Journal of Bio-Environment Control
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    • v.28 no.4
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    • pp.376-387
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    • 2019
  • Melons are mostly grown in soil, but it is susceptible to damage due to injury by continuous cropping such as Fusarium wilt and root rot. Hydroponic cultivation system can overcome the disadvantages of soil cultivation with precise nutrition management and a clean environment. When using the coir substrate, the most environmentally friendly organic substrate used for hydroponics, it is analyzed how the growth and fruit quality of the melon depends on the ratio of chips and dust and the amount of irrigation. The purpose of this study was to provide the basic data of melon hydroponics when cultivated in spring. The two types of the coir substrates used in the experiments were chip and dust ratios of 3 :7 and 5 : 5 respectively. The substrate with high dust ratios had excellent physical characteristics, such as container capacity and total porosity, and the drainage EC level showed a high value of $3.0-6.8dS{\cdot}m^{-1}$. When the amount of irrigation is provided based on the drainage rate, the group provided the nutrient solution on the basis of 10% drainage supplied 91 L per plant, which was reduced by about 30% compared to the group with the highest water supply. In addition, the total drainage showed less than 10 L per plant with a minimum water supply and was reduced by 30 - 70% in substrate with a high dust rates. In substrate with high water supply and high dust ratio, leaf growth and fruit enlargement were good, and the soluble solids content varies greatly from cultivar to cultivar. If you provided the amount of irrigation based on 10% drainage rate, the fruit weight will be decreased, but the amount of irrigation can be reduced. Therefore, it is considered that managing the water & nutrient properly taking into account the characteristics of coir substrate and cultivar can produce melon of uniform quality using hydroponics.

Changes of Microbial Community Associated with Construction Method and Maintenance Practise on Soil Profile in Golf Courses (지반 조성과 관리방법에 따른 골프장 토양내 미생물 군집의 변화)

  • Moon, Kyung-Hee;Kim, Ki-Dong;Joo, Young-Kyoo
    • Asian Journal of Turfgrass Science
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    • v.23 no.2
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    • pp.219-228
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    • 2009
  • The construction procedures and artificial turf maintenance program on golf course definitely influence on the distortion of its environment. Soil microbial communities in soil profile were affected directly by those practises on turf areas. In Jeju island, the environmental impact assessment has been required to apply the first quality class granular activated carbon(GAC), which has a high absorbent character to agricultural chemicals, on the soil profiles of golf green system to reduce the pesticide leaching to ground water. This research was carried out to analyze the changes of microbial communities and chemical properties on soil profiles where GAC had been applied at the construction stage at two golf courses in Jeju. The changes of soil microbial population and chemical properties associated with construction methods of soil profile and agrochemical management program were analyzed by monthly at the surface and sub-soil profiles during April through October, 2007. The total numbers of bacteria and fungi, soil moisture content, soil physio-chemical properties were measured on greens and fairways of the both golf courses with different GAC treatment on the green and fairway soil profiles. The results showed that GAC had positive effects on the water holding capacity, pH and EC, however, it did not improved the holding capacity of available nutrients ${NO_3}^-,{NH_4}^+$, and phosphorus by its sorption phenomenon. In microbial count test, the total numbers of bacteria and fungi showed a great variation during sampling dates. That may directly relate to the agrochemical application, however, the ratio of total bacterial number versus total fungus number showed a constant value on a sub-soil of 15~30cm depth. Thus, the construction method of GAC in soil profile, and application of fertilizer and pesticide, both impacted on the changes of microbial population. It's means that the construction method of soil profile and turf management using agro-materials might greatly affect on the turfgrass culture and the environment of golf course.

Study on Deriving the Items related to Investigation and Planning for the Comprehensive Maintenance Plan of Scenic Sites (명승 종합정비계획 수립을 위한 조사 및 계획 항목의 도출에 관한 연구)

  • Lee, Jae-Yong
    • Korean Journal of Heritage: History & Science
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    • v.51 no.3
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    • pp.88-103
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    • 2018
  • The purpose of this study was to excavate the items of the comprehensive maintenance plan for scenic sites considering sustainability and analyze the needs of them. In this sense, based on 35 reports of the comprehensive maintenance plan established between 2006, when scenic sites started to be designated, and 2017, the items used in 'investigation field' and 'planning field' were examined, and then a survey regarding the needs of the items was conducted using a "5-point Likert Scale", targeting officials at 60 local governments in the whole country. Of 60 local governments, opinions from 48 officials at 45 local governments were analyzed. In order to verify the consistency of their opinions, "Reliability Analysis" was conducted, and Cronbach's alpha coefficient was 0.968 and 0.970 for 'investigation field' and 'planning field', respectively, showing high reliability. As a result of the survey, most opinions generally expressed the needs of 6 items of 'investigation field' of the comprehensive maintenance plan. Especially, the needs to investigate 'historical environment', 'natural environment', 'humanistic environment', and 'landscape' turned out to be high. In addition, as for 'general environment' and 'users', the needs of specific items such as 'distribution of main cultural properties and historic sites' (4.04) and 'acceptance of opinions from local residents and interested parties' (4.15) were found to be high. Besides, the items of 'planning field' also turned out to be needed in general (4.0). Particularly, the needs of 'enhancement of designated value and status' (4.26) and 'the comprehensive maintenance plan for designated areas of cultural properties and historic and cultural environment preservation areas' (4.25) in 'historical environment', 'maintenance of historic buildings at scenic sites' (4.28) in 'humanistic environment', and 'landscape trail planning' (4.28) in 'landscape' were found to be high. In conclusion, the practical items related to investigation and planning of the comprehensive maintenance plan for scenic sites are expected to contribute to effective conservation and management of scenic sites in the future.