• 경영과정보연구
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• 제28권2호
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• pp.113-134
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• 2009

본 연구는 외환위기 이후에 외국인 투자비중이 기업가치에 미치는 영향을 실증분석하였다. 2000년부터 2007년까지 8년 동안 외국인지분율이 영(0)보다 큰 기업을 대상으로 분석한 결과 외국인 투자비중이 증가할수록 기업가치는 상승하는 것으로 나타났다. 이러한 관계는 동시성을 고려해 외국인지분율과 기업가치를 내생변수로 보고 분석을 해도 동일하게 성립하였다. 한편 역으로 외국인이 기업가치가 높을 것으로 전망되는 기업에 선별적으로 투자한다는 증거는 발견할 수 없었다. 외국인 투자비중 확대에 따른 기업가치의 상승은 외국인투자자가 투자기업에 대한 감시 및 견제 역할을 충실히 수행하기 때문인 것으로 해석된다. 이는 전통적으로 소유경영자에 의한 기업지배가 강한 우리나라 기업들이 소유분산이 심화되는 과정에서 외국인투자자를 비롯한 기관투자자가 투명성 제고 및 지배구조 개선에 있어 중요한 역할을 하고 있음을 의미한다고 하겠다.

• 무역상무연구
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• 제66권
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• pp.149-170
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• 2015

State's compensation obligation accompanied in case of indirect expropriation of foreign investor's investment asset has been established definite principle under international investment law. But the concrete and unified application criterion regarding valuation methods for measuring compensation have not been established yet. The World Bank investment guideline is adopting the Hull's Formula, which is understood as the full compensation standard with prompt adequate effective compensation and Fair Market Value method. It is a general principle that compensation should be equal to the fair market value of investment asset just before indirect expropriation date. However, there is a problem of the valuation method of fair market value of investment asset. In general, discounted cash flow, liquidation value, replacement value, book value, etc. can be the applicable standards. Arbitral tribunals determine compensation by adopting proper valuation method on a case-by-case basis according to the discretion based on the arbitration parties' experts' review on the presented opinion and by considering fact relevance of the issued dispute. This compensation includes also interest, recently it tends to award according to compound interest rather than simple interest. Beginning of the period to generate interest is the next day of the indirect expropriation occurrence date. And it should be considered that interest until the payment of compensation is also included. In addition, it should be considered that mental damages is available only when there's a basis to prove this or special case. Therefore, this study suggests to review of precedents related to indirect expropriation and concretely specify compensation valuation standard and method of indirect expropriation on investment agreements through enough consultation beforehand.

• 산학경영연구
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• 제20권1호
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• pp.123-143
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• 2007

이 연구는 조세특례제한법상 세액공제 및 세액감면 등의 직접감면과 준비금 손금산입 등의 간접감면의 세제혜택이 기업가치와 관련성이 있는지를 Ohlson(1995)모형을 토대로 1999년부터 2001년까지 3개년도 제조업을 대상으로 총 497개를 대상으로 실증분석하였다. 연구결과 주주지분 장부가치측면에서 직접 감면제도에 의한 기업합리화 적립금(누적액)과 당기전입 기업합리화적립금이 기업가치에 긍정적인 정(+)의 영향을 미치는 것으로 나타났다. 이는 세제지원의 성격과 사후관리제도의 정도 및 지속성의 차이로 인하여 기업가치 관련성에 있어서 서로 차이가 있을 수 있음을 보여주는 것이라 할 수 있다. 특히, 주주지분 장부가치측면과 회계이익측면에서 각각의 감면제도가 기업가치에 미치는 정도의 차이가 있는 것으로 나타났다. 이는 정책당국에서 간접감면제도의 조세정책적 실효성을 재검토 할 필요성의 여지를 가질 수 있음을 보여주고 있다.

• 한국도서관정보학회지
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• 제26권
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• pp.131-168
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• 1997

The future of a country is influenced by the youth. Sound fostering of the youth is important for the country's future. Because of mechanization, industrialization and urbanization of our society, many social problems, such as confusion of the sense of value, dehumanization, money worshi n.0, ppings, juvenile delinquency are increasing. For the solution of problems of juvenile crime and dehumanization, bibliotherapy should be practiced in juvenile reformatories, schools and societies. The purpose of this study is to investigate the effectiveness and value of reading. And also the characteristics, brief history, principles and procedures of bibliotherapy are examined. In addition, the book catalog suitable for bibliotherapy is considered. The results of the study are as follows. (1) In order to solve the problem of dehumanization, and the confusion of the sense of value among young adults, we should enrich and cultivate the characters of young adults through the bibliotherapy. So, bibliotherapy for the treatment of human nature of juveniles should be practiced in the juvenile reformatories, schools and societies. (2) The values of reading in the past were inspiration, information and recreation. But, in recent times, the interest in therapeutic value of reading is increasing. (3) Bibliotherapy is a kind of psychotherapy using selected reading materials. A n.0, pplication scopes of bibliotherapy are very wides, including mental medicine, alcoholic poisoning, drug addiction, juvenile delinquency, counselling and education for school life, etc. (4) The principles of bibliotherapy consist of identification, catharsis, insight and it has self therapeutic principles through the reading. The procedures of bibliotherapy is similar to any other kind of psychotherapy: the participant's statement, diagnosis, treatment, continuous recognition of remedial value. (5) The well suited reading materials for bibliotherapy are literature and biography. Literature and biography are familiar to everyone, because they describe the mentalities, emotions and life styles of human beings. (6) The standard reading lists for bibliotherapy for the proper guidance of juvenile delinquency should be prepared for the solution of developmental tasks, such as, drinking, smoking, friendship, family, love, money, marriage, pregnancy, violence, etc. Finally, Bibliotherapy should be introduced to our school settings and corrections institutions for the proper guidance and prevention of the malpractice of the youths. In addition, we should be endeavor to develop the standard reading lists for bibliotherapy and case study.

• 한국항공운항학회지
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• 제10권1호
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• pp.57-68
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• 2002

The economical aspects should be evaluated to decide the LCC(Life Cycle Cost) of the long life facilities or equipments. Airplane operators evaluate the economical aspects to decide whether they maintain the existing airplane or substitute the new one. This paper presents economic life cycle and economic life cost for both Cessna 172R and Mooney 20J that are operated for flight training in 'H' University. The residual value that is used to calculate the capital recovery rate of the airplane is calculated based on the data from Blue Book published in USA. The annual equivalent on operation cost is calculated based on the 500 flight hours per year which is the annual flight hour for the airplane in 'H' university. This paper showed that economic life cycle of Cessna 172R is nine years since it was introduced in 2001, and Mooney 20J which was introduced in 1991 exceeds the economic life cycle in 2002.

• 한국식품조리과학회지
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• 제12권3호
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• pp.305-311
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• 1996

This study was to seek menu model in usual dishes to guarantee the optimum salt intake considering the optimum gustation of salt surveyed on Korean adults. First, a pilot test was practiced using rice gruel to determine the criteria and a meaningful interval of salt concentration. Based on the criteria and interval so determined, a test was performed to seek the optimum gustation of salt concentration in usual diets. Subjectgroup for the above tests was university students living in Kyung-Book area. The results were as follows: 1. Mode value of the optimum gustation of salt was 0.5% and the received threshold difference of salt was 0.2% in the pilot test. 2. Mode values of the optimum gustation of salt in a la carte, soups and stews were lower than those of other side dishes. 3. But the portion size of a la carte, soups and stews is much larger than that of other side dishes, so that a la carte, soups and stews are sources of relatively larger amount of salt than other side dishes. 4. Considering the recommended optimum salt intake, it is desirable to reduce the amount of stock in soups and stews and to select fried food or salad more frequently.

• The Journal of Asian Finance, Economics and Business
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• 제7권9호
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• pp.125-134
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• 2020

This study examines the nominal price anomaly in the Vietnamese stock market, that is, whether stocks with low nominal price outperform stocks with high nominal price. Using a sample of all 351 companies listed on the Ho Chi Minh Stock Exchange (HOSE) from June 2009 to March 2018, we confirm our hypothesis and document that cheaper stocks yield higher subsequent abnormal returns. The results are robust after controlling for various stock characteristics that have been documented to be value-relevant in prior literature, including firm size, book-to-market ratio, intermediate-term momentum, short-term reversal, skewness, market risk, idiosyncratic risk, illiquidity and extreme daily returns, using both the portfolio analysis and the Fama-MacBeth cross-sectional regression. The negative effect persists in the long term (i.e., after up to 12 months), implying a slow adjustment of stock prices to their intrinsic value. Further analysis show that the observed nominal price anomaly is mainly driven by mispricing but not a latent risk factor proxied by stock price, thus the observed anomaly reflects a mispricing but not a fundamental risk. The study highlights the irrational behaviour of investors and market inefficiency in the Vietnamese stock market and provides important implication for investors in the market.

• 한국한의학연구원논문집
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• 제7권1호
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• pp.1-16
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• 2001

The Objective of this article is to make a bibliographical introduction and to discuss the historical value of several literatures on the Sasang constitutional medicine established by Jema Lee$(1837{\sim}1900)$. Literatures are as follows: 1. ${\ulcorner}$HamsanSachon Donguisusebowon(咸山沙忖 東醫壽世保元 甲午舊本)${\lrcorner}$; newly found draft of ${\ulcorner}$Donguisusebowon${\lrcorner}$ that contains an old edition written in 1894. 2. ${\ulcorner}$Bojeyeonseol-Supplement of Donguisusebowon(普濟演設-東醫壽世保元補編)${\lrcorner}$; a clinical book which is regarded as to had been published before the first edition of ${\ulcorner}$Donguisusebowon${\lrcorner}$ was printed. 3. ${\ulcorner}$Gyukchigo appendix(格致藁-附錄)${\lrcorner}$, ${\ulcorner}$Sasang Medicine-A Memorandom of the first edition(四象醫學草本卷備忘錄)${\lrcorner}$; which were aquired in Yanbian(China) several years ago. 4. ${\ulcorner}$Donguisusebowon${\lrcorner}$- The first edition published in 1901; owned by Mikki Sakae(三木榮) a Japanese medical historian. 5. ${\ulcorner}$Donguisusebowon${\lrcorner}$ - Manuscript; poetry on natures of herbal drugs are appended.

• International Journal of Contents
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• 제9권2호
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• pp.27-37
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• 2013

From the perspective of the domestic capital markets, there have been few researches on the financial characteristics of the firms belonging to the KOSDAQ(Korea Securities Dealers Automated Quotation) market, in comparison with those of the firms in the KOSPI. This study has performed three hypothesis tests to obtain the following results: By employing the 'panel data' analysis, it was found that, for the book-value based leverage, all of the six proposed IDVs were statistically significant as the financial determinants of leverage, across the two proxies measuring profitability (i.e., PFT and ROE), while all of the IDVs except VOLATILITY, also seemed to be the attributes to explain the market based dependent variable in the model with the PFT. Moreover, there may be statistically significant (structural) changes (or quasi-experiment) ) between the pre- and post-U.S. financial crisis in the year of 2008, when measured the leverage with the market-value basis with utilizing the Chow F-test. Finally, based upon the logistic regression results, the probability for a firm to be classified into the Prime section in the KOSDAQ market, may be higher, as its profit margin and asset turnover increase.

• 패션비즈니스
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• 제18권3호
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• pp.91-103
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• 2014

Shirts which have been a inner-wear in men's suit in the past, are being changed into an item that 20's men utilize to their individuality. Dress shirts have gotten out of its shape, becoming tight and slim with activity and fashion trend. In this study, two patterns of fitted dress shirts in a clothing construction text book were compared with the pattern of an apparel company with regard to the size tolerance and appearance silhouette; this comparison was performed through a fitting test and an appearance evaluation. According to the study, size tolerance of chest girth and waist girth were about 6~8cm and 10~18cm, respectively. Neck girth of the collar was tight in both the fitting test and appearance evaluation. Thus, the measurement value of the neck base girth had to be used for the collar pattern making. Moreover, approximately 35cm is a moderate size for the width on the upper arm in sleeve. Therefor the factors such as size tolerance of waist girth, height of sleeve cap, slim sleeve width and measurement value of neck base girth are being considered for the pattern making of fitted dress shirts.