• The Korean Journal of Financial Management
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• v.8 no.2
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• pp.209-255
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• 1991

This paper develops a simple model to explain the reasons why foreign acquirers pay significantly higher premiums for U.S. target firms than do U.S. buyers. We also provide empirical work on the valuation effect of foreign takeovers and the determinants of the wealth gains of U.S. target shareholders involved in foreign takeovers. The results indicate that target wealth gains are significantly higher in foreign takeovers than in domestic takeovers, after controlling for the wealth effects of payment method, acquisition type, tax status, size and time period of bids. This confirms the valuation effect of foreign takeovers. Furthermore, the results of cross-sectional regression analysis show that the variation in U.S. target wealth gains is explained by extra tax benefits stemming from double tax deductions for acquisition-related interest expenses incurred by foreign acquirers. These findings imply that differential taxation across tax jurisdictions is the main source of the valuation effect of foreign takeovers. In addition, we find that there exists a valuation effect of the nationality of the foreign acquirers. Japanese companies pay significantly higher premiums than do non-Japanese acquirers. The finding also indicates that competition among bidders increases the abnormal returns to U.S. target shareholders in foreign takeovers.

• Journal of the Korean Society of Safety
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• v.37 no.4
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• pp.20-27
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• 2022

This article aims to develop an algorithm that detects fire pump defects by analyzing the current signals of an induction motor, which are triggered by changes in the flow rate and pressure of multistage volute pumps that are used for fire services. The operational status of the pumps was categorized into three: first, normal operation; second, a defect that is caused by a change in the current value; and third, a defect occasioned by a change in current, pressure, and flow rate. When a fire pump was in normal operation, the motor's operating current was measured between 5.06 A and 6.9 A, the flow rate was estimated at 0-0.27 m³/min, and the pressure ranged from 0 to 0.47 MPa. In the event that a defect was caused by an abnormal current value in the motor, it was attributed to the pump's adherence. Furthermore, if there was no source of water, the defect was considered to have been induced by phase-loss operation, no-load operation, or run-stop operation, with the current value of each scenario being measured at > 52.8 A, < 4.13 A, > 45.15 A, and < 3.8 A, respectively, placing its overall range between 0 and 50 A. The sources of defects were detected based on an analysis of the flow rate, pressure, and current, which represent the following causes: air inflow into the casing, inadequate suction of water, and reverse-phase operation, respectively. Each cause entailed the following values: when air seeped into the casing, the pressure was measured at 0.24 MPa irrespective of changes in the flow rate; when there was inadequate suction of water, the pressure was recorded between 0 and 0.05 MPa despite changes in the flow rate; and when the power line's reverse-phase loss was the cause of the defect, the pressure was measured at 0.33 MPa for a flow rate of 0 L/min, and a higher flow rate decreased the pressure to nearly 0 MPa. The results of this study will enable engineers to develop a pump defect detection algorithm that is based on an analysis of current, and this algorithm will facilitate the execution of a program that will control a fire pump defect detection system.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.19 no.5
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• pp.689-696
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• 2018

System grounding is applied to the neutral point of a power source to secure the from any abnormal voltage and/or grounding fault. System grounding, which is applied mainly in ships is an ungrounded and resistance grounded system. Vessels using the MV power system with 3.3kV, 6.6kV, and 11kV mainly adopt a high resistance grounding system among the resistance grounding systems. The ground fault accounts for 95% of all faults occurring in the electrical system and when a fault occurs, the line-to-ground voltage of the power system is increased excessively, which adversely affects the onboard insulation system. This study analyzed the variation characteristics of the line-to-ground voltage neutral point according to the degree of ground fault in a resistance ground system applied in vessels. For this purpose, the characteristics of the grounding system were first explained, and the modeling of the neutral point potential of the line-to-ground voltage of the resistance grounding system in the vessels was derived. Finally, this study examined how the line-to-ground voltage, line voltage, and neutral point change according to various variable environments through MATLAB simulations.

• Journal of Radiation Protection and Research
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• v.44 no.3
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• pp.118-126
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• 2019

Background: Government conducts environmental radioactivity surveillance for verification purpose around nuclear facilities based on the Nuclear Safety Law and issues a surveillance report every year. This study aims to evaluate the short and the long-term fluctuation of radionuclides detected above MDC and their origins using concentration ratios between these radionuclides. Materials and Methods: Sample media for verification surveillance are air, rainwater, groundwater, soil, and milk for terrestrial samples, and seawater, marine sediment, fish, and seaweed for marine samples. Gamma-emitting radionuclides including $^{137}Cs$, $^{90}Sr$, Pu, $^3H$, and $^{14}C$ are evaluated in these samples. Results and Discussion: According to the result of the environmental radioactivity verification surveillance in the vicinity of nuclear power facilities in 2017, the anthropogenic radionuclides were not detected in most of the environmental samples except for the detection of a trace level of $^{137}Cs$, $^{90}Sr$, Pu, and $^{131}I$ in some samples. Radioactivity concentration ratios between the anthropogenic radionuclides ($^{137}Cs/^{90}Sr$, $^{137}Cs/^{239+240}Pu$, $^{90}Sr/^{239+240}Pu$) were similar to those reported in the environmental samples, which were affected by the global fallout of the past nuclear weapon test, and Pu atomic ratios ($^{240}Pu/^{239}Pu$) in the terrestrial sample and marine sample showed significant differences due to the different input pathway and the Pu source. Radioactive iodine ($^{131}I$) was detected at the range of < $5.6-190mBq{\cdot}kg-fresh^{-1}$ in the gulfweed and sea trumpet collected from the area of Kori and Wolsong intake and discharge. A high level of $^3H$ was observed in the air (Sangbong: $0.688{\pm}0.841Bq{\cdot}m^{-3}$) and the precipitation (Meteorology Post: $199{\pm}126Bq{\cdot}L^{-1}$) samples of the Wolsong nuclear power plant (NPP). $^3H$ concentration in the precipitation and pine needle samples showed typical variation pattern with the distance and the wind direction from the stack due to the gaseous release of $^3H$ in Wolsong NPP. Conclusion: Except for the detection of a trace level of $^{137}Cs$, $^{90}Sr$, Pu, and $^{131}I$ in some samples, anthropogenic radionuclides were below MDC in most of the environmental samples. Overall, no unusual radionuclides and abnormal concentration were detected in the 2017's surveillance result for verification. This research will be available in the assessment of environment around nuclear facilities in the event of radioactive material release.

• Journal of Science and Technology Studies
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• v.5 no.1 s.9
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• pp.93-123
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• 2005

This work has following two research goals. First, IVF treatments that have been recently going on in Korea are reexamined from the perspective of women's reproductive rights. Second, the intimate connection between IVF and therapeutic cloning research, in that remnant embryos and eggs that have been secured through IVF treatments have served as a main source of supply for therapeutic cloning research, has been emphasized. The fact that the influencing power of tradition on Korean families and women and IVF techniques eventually joined their hands in support of therapeutic cloning research is noted. Analysis of experiences of infertility by women in the realms of family, medical care during IVF treatment, and therapeutic cloning research that requires continuous supply of eggs leads to following conclusions. First, in the realm of family, infertile women were not only relegated to the status of abnormality but pressured to question their own womanhood. Under this circumstance, IVF treatment helped to reinforce the traditional concept of biological motherhood, thus categorizing married women giving birth to babies and married women who can't or refuses to do so to 'normal ones' and 'abnormal ones' respectively. Second, in the realm of medical care an infertile woman could rediscover her own body during the process of IVF treatment. By going through the processes of hormone treatment, implantation, conception, miscarriage, and so on, she could realize that her own body is understood in diverse ways to her, her family, and the medical profession. Third, in the realm of the state, IVF treatment that was serving as the main supplier of research materials for therapeutic cloning research has been able to avoid controversy in public discourses since the latter has emerged as a signifier of new national economic workhorse for the 21st century. As therapeutic cloning research went into high gear, the status of women as egg providers began to assume a political dimension. Women as egg providers are called upon to take on a paradoxical role as patriotic contributors to national economy on the one hand and as guardians of sacred 'life' on the other hand. The direction and progress of the research will depend on the ways that women comply, compromise, and/or resist the contradiction brought about by being assigned to assume these two identities: the one as a member of the nation requested to serve as a part of national economic development project, even though considered ineligible for financial recompense, and the other one as a guardian of sacred 'life,' even though she have to serve the research that is allowed to create a 'life' to destroy a 'life.'