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A Study on the Continuous Utilization of Japan's Cultural Heritage Through the Cases of Silk Heritage, World Heritage, and the Japan Heritage Project in Gunma Prefecture (일본 문화유산의 연속적 활용에 관한 연구 - '군마 실크유산'과 세계유산, 일본유산 사업을 중심으로 -)

  • Lee, Chungsun
    • Korean Journal of Heritage: History & Science
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    • v.52 no.1
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    • pp.190-211
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    • 2019
  • In March 2015, The Agency for Cultural Affairs of Japan implemented a project called "Japan Heritage," which aims to promote the unique narratives of cultural properties of the region by branding the locality for revitalization in preparation for the 2020 Tokyo Olympics and Paralympics. This bottom-up approach of cultural policy has been called a "Cool Japan Strategy of Cultural Heritage" in the 21st century, which effectively incorporates local cultural heritage and tourism. However, although a total of 67 Japan Heritage projects have been designated as of December 2018, almost none has been introduced in the academic forum in Korea. On the basis of this background and a lack of academic awareness in Korea on Japan's recent cultural policies, this research aims to focus on the three cases of Gunma Prefecture implemented in local, global, and glocal aspects. To specify, the cases are the "Gunma Silk Heritage" project, implemented in 2011, the "Tomioka Silk Mill and Related Sites" project that was included on the UNESCO World Heritage List in 2014, and "The Best Wife in the World - Silk Story of Gunma," case certified as the first project of "Japan Heritage" launched in 2015. Based on the questionnaire method conducted with the World Heritage Registration Promotion Division in Gunma Prefectural Government, as well as a literature view, the research revealed that the consecutive implementation of a series of cultural heritage projects in Gunma is not coincidental, but rather a strategy aiming to create a synergism where each project complements the others. Moreover, this paper demonstrates that Gunma Prefecture has been utilizing the local silk industry as a tangible and intangible cultural resource in multi-layered heritage projects, resulting in a "spiral synergy effect" and a "chain of the recognition process." In conclusion, it illustrates the recent trend of utilizing cultural heritage in the context of the Cool Japan strategy, which seeks to move away from the administration of maintaining the status quo cultural heritage protection to a proactive one with greater potential growth. This research may thus provide meaningful insight into the utilization of domestic historical and cultural resources as well as related policy-making, in that it will ultimately promote the chain effect of linking the multiple heritage policies and projects at the local, global, and glocal levels.

A Study of Masterplot of Disaster Narrative between Korea, the US and Japan (한·미·일 재난 서사의 마스터플롯 비교 연구)

  • Park, In-Seong
    • Journal of Popular Narrative
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    • v.26 no.2
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    • pp.39-85
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    • 2020
  • This paper examines the aspects of disaster narrative, which makes the most of the concept of 'masterplot' as a narrative simulation to solve problems. By analyzing and comparing the remnants of 'masterplots' operating in the disaster narratives of Korea, the United States, and Japan, the differences between each country and social community problem recognition and resolution will be discussed. Disaster narrative is the most suitable genre for applying the 'masterplot' toward community problem solving in today's global risk society, and the problem-solving method has cognitive differences for each community. First, in the case of American disaster narratives, civilian experts' response to natural disasters tracks the changes of heroes in today's 'Marvel Comic Universe' (MCU). Compared to the past, the close relationship between heroism and nationalism has been reduced, but the state remains functional even if it is bolstered by the heroes' voluntary cooperation and reflection ability. On the other hand, in Korea's disaster narratives, the disappearance of the country and paralysis of the function are foregrounded. In order to fill the void, a new family narrative occurs, consisting of a righteous army or people abandoned by the state. Korea's disaster narratives are sensitive to changes after the disaster, and the nation's recovery never returns to normal after the disaster. Finally, Japan's disaster narratives are defensive and neurotic. A fully state-led bureaucratic system depicts an obsessive nationalism that seeks to control all disasters, or even counteracts anti-heroic individuals who reject voluntary sacrifices and even abandon disaster conditions This paper was able to diagnose the impact and value of a 'masterplot' today by comparing a series of 'masterplots' and their variations and uses. In a time when the understanding and utilization of 'masterplots' are becoming more and more important in today's world where Over-the top(OTT) services are being provided worldwide, this paper attempt could be a fragmentary model for the distribution and sharing of global stories.

Analysis of the effect of long-term water supply improvement by the installation of sand dams in water scarce areas (물부족 지역에서 샌드댐 설치에 의한 장기 물공급 개선 효과 분석)

  • Chung, Il-Moon;Lee, Jeongwoo;Lee, Jeong Eun;Kim, Il-Hwan
    • Journal of Korea Water Resources Association
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    • v.55 no.12
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    • pp.999-1009
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    • 2022
  • The Chuncheon Mullori area is an underprivileged area for water welfare that does not have a local water supply system. Here, water is supplied to the village by using a small-scale water supply facility that uses underground water and underground water as the source. To solve the problem of water shortage during drought and to prepare for the increasing water demand, a sand dam was installed near the valley river, and this facility has been operating since May 2022. In this study, in order to evaluate the reliability of water supply when a sand dam is assumed during a drought in the past, groundwater runoff simulation results using MODFLOW were used to generate inflow data from 2011 to 2020, an unmeasured period. After performing SWAT-K basin hydrologic modeling for the watershed upstream of the existing water intake source and the sand dam, the groundwater runoff was calculated, and the relative ratio of the monthly groundwater runoff for the previous 10 years to the monthly groundwater runoff in 2021 was obtained. By applying this ratio to the 2021 inflow time series data, historical inflow data from 2011 to 2020 were generated. As a result of analyzing the availability of water supply during extreme drought in the past for three cases of demand 20 m3/day, 50 m3/day, and 100 m3/day, it can be confirmed that the reliability of water supply increases with the installation of sand dams. In the case of 100 m3/day, it was analyzed that the reliability exceeded 90% only when the existing water intake source and the sand dam were operated in conjunction. All three operating conditions were evaluated to satisfy 50 m3/day or more of demand based on 95% reliability of water supply and 30 m3/day or more of demand based on 99% of reliability.

The Impact of Market Environments on Optimal Channel Strategy Involving an Internet Channel: A Game Theoretic Approach (시장 환경이 인터넷 경로를 포함한 다중 경로 관리에 미치는 영향에 관한 연구: 게임 이론적 접근방법)

  • Yoo, Weon-Sang
    • Journal of Distribution Research
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    • v.16 no.2
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    • pp.119-138
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    • 2011
  • Internet commerce has been growing at a rapid pace for the last decade. Many firms try to reach wider consumer markets by adding the Internet channel to the existing traditional channels. Despite the various benefits of the Internet channel, a significant number of firms failed in managing the new type of channel. Previous studies could not cleary explain these conflicting results associated with the Internet channel. One of the major reasons is most of the previous studies conducted analyses under a specific market condition and claimed that as the impact of Internet channel introduction. Therefore, their results are strongly influenced by the specific market settings. However, firms face various market conditions in the real worlddensity and disutility of using the Internet. The purpose of this study is to investigate the impact of various market environments on a firm's optimal channel strategy by employing a flexible game theory model. We capture various market conditions with consumer density and disutility of using the Internet.

    shows the channel structures analyzed in this study. Before the Internet channel is introduced, a monopoly manufacturer sells its products through an independent physical store. From this structure, the manufacturer could introduce its own Internet channel (MI). The independent physical store could also introduce its own Internet channel and coordinate it with the existing physical store (RI). An independent Internet retailer such as Amazon could enter this market (II). In this case, two types of independent retailers compete with each other. In this model, consumers are uniformly distributed on the two dimensional space. Consumer heterogeneity is captured by a consumer's geographical location (ci) and his disutility of using the Internet channel (${\delta}_{N_i}$).
    shows various market conditions captured by the two consumer heterogeneities.
    (a) illustrates a market with symmetric consumer distributions. The model captures explicitly the asymmetric distributions of consumer disutility in a market as well. In a market like that is represented in
    (c), the average consumer disutility of using an Internet store is relatively smaller than that of using a physical store. For example, this case represents the market in which 1) the product is suitable for Internet transactions (e.g., books) or 2) the level of E-Commerce readiness is high such as in Denmark or Finland. On the other hand, the average consumer disutility when using an Internet store is relatively greater than that of using a physical store in a market like (b). Countries like Ukraine and Bulgaria, or the market for "experience goods" such as shoes, could be examples of this market condition. summarizes the various scenarios of consumer distributions analyzed in this study. The range for disutility of using the Internet (${\delta}_{N_i}$) is held constant, while the range of consumer distribution (${\chi}_i$) varies from -25 to 25, from -50 to 50, from -100 to 100, from -150 to 150, and from -200 to 200.
    summarizes the analysis results. As the average travel cost in a market decreases while the average disutility of Internet use remains the same, average retail price, total quantity sold, physical store profit, monopoly manufacturer profit, and thus, total channel profit increase. On the other hand, the quantity sold through the Internet and the profit of the Internet store decrease with a decreasing average travel cost relative to the average disutility of Internet use. We find that a channel that has an advantage over the other kind of channel serves a larger portion of the market. In a market with a high average travel cost, in which the Internet store has a relative advantage over the physical store, for example, the Internet store becomes a mass-retailer serving a larger portion of the market. This result implies that the Internet becomes a more significant distribution channel in those markets characterized by greater geographical dispersion of buyers, or as consumers become more proficient in Internet usage. The results indicate that the degree of price discrimination also varies depending on the distribution of consumer disutility in a market. The manufacturer in a market in which the average travel cost is higher than the average disutility of using the Internet has a stronger incentive for price discrimination than the manufacturer in a market where the average travel cost is relatively lower. We also find that the manufacturer has a stronger incentive to maintain a high price level when the average travel cost in a market is relatively low. Additionally, the retail competition effect due to Internet channel introduction strengthens as average travel cost in a market decreases. This result indicates that a manufacturer's channel power relative to that of the independent physical retailer becomes stronger with a decreasing average travel cost. This implication is counter-intuitive, because it is widely believed that the negative impact of Internet channel introduction on a competing physical retailer is more significant in a market like Russia, where consumers are more geographically dispersed, than in a market like Hong Kong, that has a condensed geographic distribution of consumers.
    illustrates how this happens. When mangers consider the overall impact of the Internet channel, however, they should consider not only channel power, but also sales volume. When both are considered, the introduction of the Internet channel is revealed as more harmful to a physical retailer in Russia than one in Hong Kong, because the sales volume decrease for a physical store due to Internet channel competition is much greater in Russia than in Hong Kong. The results show that manufacturer is always better off with any type of Internet store introduction. The independent physical store benefits from opening its own Internet store when the average travel cost is higher relative to the disutility of using the Internet. Under an opposite market condition, however, the independent physical retailer could be worse off when it opens its own Internet outlet and coordinates both outlets (RI). This is because the low average travel cost significantly reduces the channel power of the independent physical retailer, further aggravating the already weak channel power caused by myopic inter-channel price coordination. The results implies that channel members and policy makers should explicitly consider the factors determining the relative distributions of both kinds of consumer disutility, when they make a channel decision involving an Internet channel. These factors include the suitability of a product for Internet shopping, the level of E-Commerce readiness of a market, and the degree of geographic dispersion of consumers in a market. Despite the academic contributions and managerial implications, this study is limited in the following ways. First, a series of numerical analyses were conducted to derive equilibrium solutions due to the complex forms of demand functions. In the process, we set up V=100, ${\lambda}$=1, and ${\beta}$=0.01. Future research may change this parameter value set to check the generalizability of this study. Second, the five different scenarios for market conditions were analyzed. Future research could try different sets of parameter ranges. Finally, the model setting allows only one monopoly manufacturer in the market. Accommodating competing multiple manufacturers (brands) would generate more realistic results.

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  • Estimation of SCS Runoff Curve Number and Hydrograph by Using Highly Detailed Soil Map(1:5,000) in a Small Watershed, Sosu-myeon, Goesan-gun (SCS-CN 산정을 위한 수치세부정밀토양도 활용과 괴산군 소수면 소유역의 물 유출량 평가)

    • Hong, Suk-Young;Jung, Kang-Ho;Choi, Chol-Uong;Jang, Min-Won;Kim, Yi-Hyun;Sonn, Yeon-Kyu;Ha, Sang-Keun
      • Korean Journal of Soil Science and Fertilizer
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      • v.43 no.3
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      • pp.363-373
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      • 2010
    • "Curve number" (CN) indicates the runoff potential of an area. The US Soil Conservation Service (SCS)'s CN method is a simple, widely used, and efficient method for estimating the runoff from a rainfall event in a particular area, especially in ungauged basins. The use of soil maps requested from end-users was dominant up to about 80% of total use for estimating CN based rainfall-runoff. This study introduce the use of soil maps with respect to hydrologic and watershed management focused on hydrologic soil group and a case study resulted in assessing effective rainfall and runoff hydrograph based on SCS-CN method in a small watershed. The ratio of distribution areas for hydrologic soil group based on detailed soil map (1:25,000) of Korea were 42.2% (A), 29.4% (B), 18.5% (C), and 9.9% (D) for HSG 1995, and 35.1% (A), 15.7% (B), 5.5% (C), and 43.7% (D) for HSG 2006, respectively. The ratio of D group in HSG 2006 accounted for 43.7% of the total and 34.1% reclassified from A, B, and C groups of HSG 1995. Similarity between HSG 1995 and 2006 was about 55%. Our study area was located in Sosu-myeon, Goesan-gun including an approx. 44 $km^2$-catchment, Chungchungbuk-do. We used a digital elevation model (DEM) to delineate the catchments. The soils were classified into 4 hydrologic soil groups on the basis of measured infiltration rate and a model of the representative soils of the study area reported by Jung et al. 2006. Digital soil maps (1:5,000) were used for classifying hydrologic soil groups on the basis of soil series unit. Using high resolution satellite images, we delineated the boundary of each field or other parcel on computer screen, then surveyed the land use and cover in each. We calculated CN for each and used those data and a land use and cover map and a hydrologic soil map to estimate runoff. CN values, which are ranged from 0 (no runoff) to 100 (all precipitation runs off), of the catchment were 73 by HSG 1995 and 79 by HSG 2006, respectively. Each runoff response, peak runoff and time-to-peak, was examined using the SCS triangular synthetic unit hydrograph, and the results of HSG 2006 showed better agreement with the field observed data than those with use of HSG 1995.

    Mechanical and Operational Factors Affecting the Efficiency of Rice Polishing Machines (정미기의 능률에 미치는 기계적 요인및 작동조건에 관한 연구)

    • No, Sang-Ha
      • Journal of Biosystems Engineering
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      • v.1 no.1
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      • pp.15-15
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      • 1976
    • In analyzing the operational characteristics of a rice whitening machine, the internal radial pressure of the machine was measured using strain gage equipment. Changes in cylinder and feed screw configurations, screen type, cylinder speed and counter-pressure levels were examined to determine their impact on the quality and quantity of milled rice and the performance of the machine. The results are summarized as follows: 1. The internal radial pressure in the whitening chamber varied with the surface condition of the grain being processed. During the first or second pass through the machine, pressure was relatively low, reached a maximum after two to three passes with combinations I and II, three to six with combination III and then began to fall. 2. The pitch of the feed screw and the size of the feed gate opening which determine the rate of entry of grain into the whitening chamber, appeared to be the most important factor aff-::cting the degree of radial pressure, quality and quantity of milled rice and the efficiency of the machine. Using a feed screw with a wide pitch (4.8cm), radial pressure was relatively high and head rice recovery ratio \vere quite low. In this case capacity and machine effic?iency were much higher than obtained when using a feed screw with a narrow pitch (2.3cm). Very significant responses in radial pressure, head rice recovery rates and machine capacity were observed with changes in cylinder speed and counter-pressure levels when using the wide pitch feed screw. 3. The characteristics of the screen which surrounds the whitening chamber had an important effect on whitening efficiency. The existence of small protuberances on the original screen resulted in significant increases in both machine capacity and efficiency but without a significant decrease in head rice recovery or development of excessive radial pressure. Further work is required to determine the effects of screen surface conditions and the shape of the cylinderical steel roller on the rate of bran removal, machine efficiency and recovery rates. The size of the slotted perforations 0:1 the screen affects total milled rice recovery. The opening size on the original screen was fabricated to accommodate the round shape of Japonica rice varieties but was not suitable for the more slender Indica type. Milling Indica varieties with this screen resulted in a reduction in total milled rice recovery. 4. An increase in cylinder speed from 380 to 820 rpm produced a positive effect on head rice recovery for all machine combinations at every level of counter-pressure used in the tests. Head rice recovery was considerably lower at 380rpm using a wide screw pitch when compared to the results obtained at speeds from 600 to 820 r.p.m. The effects of cylinder speed On radial pressure, capacity and machine efficiency showed contrasting results, depending on the width of the feed screw pitch. With a narrow feed screw pitch (2.3cm), a direct proportional relationship was observed bet?ween cylinder speed and both radial pressure and machine efficiency. In contrast, using a 4.8 centimeter pitch feed roller produced a series of inverse relationships between the above variables. Based on the results of this study it is recommended when milling Indica type long grain rice varieties that the cylinder speed of the original machine be increased from 500-600 rmp up to a minimum of 800 rpm to obtain a greater abrasive effect between the grain and the screen. The pitch of the feed screw should be also reduced to decr?ease the level of internal radial pressure and to obtain higher machine efficiency and increased quality of milled rice with increased cylinder speeds. Further study on the interaction between cylinder speed and feed screw pitch is recommended. 5. An increase in the counter pressure level produced a negative effect On the head rice recovery with an increase in radial pressure, capacity, and machine efficiency over all combinations and at every level of cylinder speed. 6. Head rice recovery rates were conditioned primarily by the pressure inside the whitening chamber. According to the empirical cha racteristics curve developed in this study, the relationships of head rice recovery ($Y_h$) and machine capacity ($Y_c$/TEX>) to internal radial pressure ($X_p$) followed an inverse quadratic function and a linear function respectively: $$Y_h^\Delta=\frac{1}{{1.4383-0.2951X_p^\ast+0.1425X_p^{\ast\ast}}^2} , (R^2=0.98)$$$$Y_c^\Delta=-305.83+374.37X_p^{\ast\ast}, (R^2=0.88)$$The correlation between capacity and power consumption per unit of brown rice expressed in the following exponential function: $$Y_c^\Delta=1.63Y_c^{-0.7786^\{\ast\ast}, (R^2=0.94)$$These relationships indicate that when radial pressure increases above a certain range (1. 6 to 2.0 kg/$cm^2$ based On the results of the experiment) head ricerecovery decrea?ses in a quadratic relation with a inear increase in capacity but without any decrease in power consump tion per unit of brown rice. On the other hand, if radial pressure is below the range shown above, power consumption increases dramatically with a lin?ear decrease in capacity but without significant increases in head rice recovery. During the operation of a given whitening machine, the optimum radial pressure range or the correct capacity range should be selected by controlling the feed rate and/or counter-pressure keeping in mind the condition of the grain, particulary the hardness. It was observed that the total number of passes is related to radial pessure level, feed rate and counter-pressure level. The higher theradial pressure the fewer num?ber of pass required but with decreased head rice recovery. In particular, when using high feed rates, the total number of passes should be increased to more than three by reducing the counter-pressure level to avoid decreaseases in head rice recovery (less than 65 percent head rice recovery on the basis of brown rice) at every cylinder speed. 7. A rapid rise in grain temperature seemed to have a close relationship with the pressure generated inside the whitening chamber and, subsequently with head rice reco?very rates. The higher the rate of increase, the lower were the resulting head rice recoveries.

    Mechanical and Operational Factors Affecting the Efficiency of Rice Polishing Machines (정미기의 능률에 미치는 기계적 요인및 작동조건에 관한 연구)

    • 노상하;최재갑
      • Journal of Biosystems Engineering
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      • v.1 no.1
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      • pp.17-48
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      • 1976
    • In analyzing the operational characteristics of a rice whitening machine, the internal radial pressure of the machine was measured using strain gage equipment. Changes in cylinder and feed screw configurations, screen type, cylinder speed and counter-pressure levels were examined to determine their impact on the quality and quantity of milled rice and the performance of the machine. The results are summarized as follows: 1. The internal radial pressure in the whitening chamber varied with the surface condition of the grain being processed. During the first or second pass through the machine, pressure was relatively low, reached a maximum after two to three passes with combinations I and II, three to six with combination III and then began to fall. 2. The pitch of the feed screw and the size of the feed gate opening which determine the rate of entry of grain into the whitening chamber, appeared to be the most important factor aff-::cting the degree of radial pressure, quality and quantity of milled rice and the efficiency of the machine. Using a feed screw with a wide pitch (4.8cm), radial pressure was relatively high and head rice recovery ratio \vere quite low. In this case capacity and machine effic\ulcorneriency were much higher than obtained when using a feed screw with a narrow pitch (2.3cm). Very significant responses in radial pressure, head rice recovery rates and machine capacity were observed with changes in cylinder speed and counter-pressure levels when using the wide pitch feed screw. 3. The characteristics of the screen which surrounds the whitening chamber had an important effect on whitening efficiency. The existence of small protuberances on the original screen resulted in significant increases in both machine capacity and efficiency but without a significant decrease in head rice recovery or development of excessive radial pressure. Further work is required to determine the effects of screen surface conditions and the shape of the cylinderical steel roller on the rate of bran removal, machine efficiency and recovery rates. The size of the slotted perforations 0:1 the screen affects total milled rice recovery. The opening size on the original screen was fabricated to accommodate the round shape of Japonica rice varieties but was not suitable for the more slender Indica type. Milling Indica varieties with this screen resulted in a reduction in total milled rice recovery. 4. An increase in cylinder speed from 380 to 820 rpm produced a positive effect on head rice recovery for all machine combinations at every level of counter-pressure used in the tests. Head rice recovery was considerably lower at 380rpm using a wide screw pitch when compared to the results obtained at speeds from 600 to 820 r.p.m. The effects of cylinder speed On radial pressure, capacity and machine efficiency showed contrasting results, depending on the width of the feed screw pitch. With a narrow feed screw pitch (2.3cm), a direct proportional relationship was observed bet\ulcornerween cylinder speed and both radial pressure and machine efficiency. In contrast, using a 4.8 centimeter pitch feed roller produced a series of inverse relationships between the above variables. Based on the results of this study it is recommended when milling Indica type long grain rice varieties that the cylinder speed of the original machine be increased from 500-600 rmp up to a minimum of 800 rpm to obtain a greater abrasive effect between the grain and the screen. The pitch of the feed screw should be also reduced to decr\ulcornerease the level of internal radial pressure and to obtain higher machine efficiency and increased quality of milled rice with increased cylinder speeds. Further study on the interaction between cylinder speed and feed screw pitch is recommended. 5. An increase in the counter pressure level produced a negative effect On the head rice recovery with an increase in radial pressure, capacity, and machine efficiency over all combinations and at every level of cylinder speed. 6. Head rice recovery rates were conditioned primarily by the pressure inside the whitening chamber. According to the empirical cha racteristics curve developed in this study, the relationships of head rice recovery ($Y_h$) and machine capacity ($Y_c$/TEX>) to internal radial pressure ($X_p$) followed an inverse quadratic function and a linear function respectively: $$Y_h^\Delta=\frac{1}{{1.4383-0.2951X_p^\ast+0.1425X_p^{\ast\ast}}^2} , (R^2=0.98)$$ $$Y_c^\Delta=-305.83+374.37X_p^{\ast\ast}, (R^2=0.88)$$ The correlation between capacity and power consumption per unit of brown rice expressed in the following exponential function: $$Y_c^\Delta=1.63Y_c^{-0.7786^\{\ast\ast}, (R^2=0.94)$$ These relationships indicate that when radial pressure increases above a certain range (1. 6 to 2.0 kg/$cm^2$ based On the results of the experiment) head ricerecovery decrea\ulcornerses in a quadratic relation with a inear increase in capacity but without any decrease in power consump tion per unit of brown rice. On the other hand, if radial pressure is below the range shown above, power consumption increases dramatically with a lin\ulcornerear decrease in capacity but without significant increases in head rice recovery. During the operation of a given whitening machine, the optimum radial pressure range or the correct capacity range should be selected by controlling the feed rate and/or counter-pressure keeping in mind the condition of the grain, particulary the hardness. It was observed that the total number of passes is related to radial pessure level, feed rate and counter-pressure level. The higher theradial pressure the fewer num\ulcornerber of pass required but with decreased head rice recovery. In particular, when using high feed rates, the total number of passes should be increased to more than three by reducing the counter-pressure level to avoid decreaseases in head rice recovery (less than 65 percent head rice recovery on the basis of brown rice) at every cylinder speed. 7. A rapid rise in grain temperature seemed to have a close relationship with the pressure generated inside the whitening chamber and, subsequently with head rice reco\ulcornervery rates. The higher the rate of increase, the lower were the resulting head rice recoveries.

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    Impact of Shortly Acquired IPO Firms on ICT Industry Concentration (ICT 산업분야 신생기업의 IPO 이후 인수합병과 산업 집중도에 관한 연구)

    • Chang, YoungBong;Kwon, YoungOk
      • Journal of Intelligence and Information Systems
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      • v.26 no.3
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      • pp.51-69
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      • 2020
    • Now, it is a stylized fact that a small number of technology firms such as Apple, Alphabet, Microsoft, Amazon, Facebook and a few others have become larger and dominant players in an industry. Coupled with the rise of these leading firms, we have also observed that a large number of young firms have become an acquisition target in their early IPO stages. This indeed results in a sharp decline in the number of new entries in public exchanges although a series of policy reforms have been promulgated to foster competition through an increase in new entries. Given the observed industry trend in recent decades, a number of studies have reported increased concentration in most developed countries. However, it is less understood as to what caused an increase in industry concentration. In this paper, we uncover the mechanisms by which industries have become concentrated over the last decades by tracing the changes in industry concentration associated with a firm's status change in its early IPO stages. To this end, we put emphasis on the case in which firms are acquired shortly after they went public. Especially, with the transition to digital-based economies, it is imperative for incumbent firms to adapt and keep pace with new ICT and related intelligent systems. For instance, after the acquisition of a young firm equipped with AI-based solutions, an incumbent firm may better respond to a change in customer taste and preference by integrating acquired AI solutions and analytics skills into multiple business processes. Accordingly, it is not unusual for young ICT firms become an attractive acquisition target. To examine the role of M&As involved with young firms in reshaping the level of industry concentration, we identify a firm's status in early post-IPO stages over the sample periods spanning from 1990 to 2016 as follows: i) being delisted, ii) being standalone firms and iii) being acquired. According to our analysis, firms that have conducted IPO since 2000s have been acquired by incumbent firms at a relatively quicker time than those that did IPO in previous generations. We also show a greater acquisition rate for IPO firms in the ICT sector compared with their counterparts in other sectors. Our results based on multinomial logit models suggest that a large number of IPO firms have been acquired in their early post-IPO lives despite their financial soundness. Specifically, we show that IPO firms are likely to be acquired rather than be delisted due to financial distress in early IPO stages when they are more profitable, more mature or less leveraged. For those IPO firms with venture capital backup have also become an acquisition target more frequently. As a larger number of firms are acquired shortly after their IPO, our results show increased concentration. While providing limited evidence on the impact of large incumbent firms in explaining the change in industry concentration, our results show that the large firms' effect on industry concentration are pronounced in the ICT sector. This result possibly captures the current trend that a few tech giants such as Alphabet, Apple and Facebook continue to increase their market share. In addition, compared with the acquisitions of non-ICT firms, the concentration impact of IPO firms in early stages becomes larger when ICT firms are acquired as a target. Our study makes new contributions. To our best knowledge, this is one of a few studies that link a firm's post-IPO status to associated changes in industry concentration. Although some studies have addressed concentration issues, their primary focus was on market power or proprietary software. Contrast to earlier studies, we are able to uncover the mechanism by which industries have become concentrated by placing emphasis on M&As involving young IPO firms. Interestingly, the concentration impact of IPO firm acquisitions are magnified when a large incumbent firms are involved as an acquirer. This leads us to infer the underlying reasons as to why industries have become more concentrated with a favor of large firms in recent decades. Overall, our study sheds new light on the literature by providing a plausible explanation as to why industries have become concentrated.

    Utilization of Phosphorus and Nitrogen Fertilizers by Paddy Rice -A six years internationally coordinated study using isotopes- (수도(水稻)에 대(對)한 인산(燐酸) 및 질소질비료(窒素質肥料)의 효용에 관(關)한 연구(硏究) -동위원소(同位元素)를 이용(利用)한 6 개년간(個年間)의 국제적(國際的) 공동시험결과(共同試驗結果)-)

    • Kim, H.S.;Cho, B.H.;Lee, C.Y.;Lee, E.W.;Shim, S.C.;Yoo, S.H.;Kwon, Y.W.;Jo, J.S.
      • Korean Journal of Soil Science and Fertilizer
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      • v.1 no.1
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      • pp.13-26
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      • 1968
    • To establish the most efficient method of nitrogen and phosphorus fertilization in paddy rice a series of internationally coordinated research using $N^{15}\;P^{32}$ isotopes were carried out from the year 1962 through 1967, supervised by the Joint FAO/IAEA Division of Atomic Energy in Agriculture under the auspicies of FAO, UN. In Korea College of Agriculture, Seoul National University had been participated in the Coordinated Research Programme from the year 1963 through the last year, arid the results obtained through the six years' researches are summarized as follows: 1. In the application of superphosphate broadcasting or placement at the surface of paddy as basal dressing was most efficient. 2. Split or late application of superphosphate did not affect the grain yield of the rice, but its efficiency in the rice plant uptake was less than in the case of basal dressing of whole amounts. 3. The contents of available soil phoshorus of the experimental sites in Korea were above 60 ppm, and the efficiency of phosphorus utilization of the rice from the fertilizer was approximately 10 per cent. The grain yield response of the rice to phosphorus application in Korea was rather small comparing to those of other countries. 4. The nitrogen uptake of the rice plants from the fertilizer was most efficient when the fertilizer was applied at the time of ear prime growth. However, the most efficient utilization of nitrogen did not necessarily accompany the maximum yield of the rice and basic application of adequate amount of nitrogen was required to secure proper number of panicles. 5. In the application of nitrogenous fertilizer shallow placement at 5 cm depth was most efficient. The effect of split application of nitrogen was not so noticeable. It seemed due to the fact that total application amount of nitrogen, 60 kg N/ha, was smaller than that of usual dosage in Korea. 6. The efficiency of nitrogen utilization of the rice from the fertilizer was about 40 percent in Korea, and the yield reponse of the rice plant to nitrogen application was remarkable comparing to those of other countries, showing the marked differences in the fertilizer efficiency and grain yield according to the application method. 7. The nitrogen uptake of the rice plant was not likely affected by the time and the rate of phosphorus application whereas the efficiency of phosphorus utilization was affected to some degree by the method of nitrogen application.

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    Studies on the Interpretative Classification of Paddy Soils in Korea I : A Study on the Classification of Sandy Paddy Soils (우리나라 답토양(畓土壌)의 실용적분류(実用的分類)에 관(関)한 연구(硏究) -제1보(第一報) 사질답(砂質畓) 분류(分類)에 관(関)하여)

    • Jung, Yeun-Tae;Yang, Euy-Seog;Park, Rae-Kyung
      • Korean Journal of Soil Science and Fertilizer
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      • v.15 no.2
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      • pp.128-140
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      • 1982
    • The distribution and practical classification of sandy paddy soils, which have the most extensive acreage among low productive paddy soils in Korea and have distinctive improvement effects, were studied to propose a tentative new classification system of sandy textured paddy soils as a means of improving the "Paddy Soil Type Classification" scheme used. The results are summarized as follows; 1. The potential productivity of sandy textured paddy soils was about 86% of normal paddy and the coefficient of variation was relatively high indicating that the properties of soils included were not sufficiently homogeneous. 2. As the poorly drained and halomorphic (> 16 mmhos/cm of E.C. at $25^{\circ}C$) sandy soils are not included in the "Sandy Soil" type according to the criteria of "Soil Type Classification", the recommendation of "adding clay earth" become complicated, and the soil type have to change when the salts washed away or due to ground water table fluctuations. 3. Coarse textured soils were entirely included in the "Sandy Soils" in the tentative criteria of sandy soil classification proposed, and the sandy soils were subdivided into 4 subtypes that is "Oxidized leaching sandy paddy", Red-ox. intergrading sandy paddy", "Reduced accumulating sandy paddy" and "Reduced halomorphic sandy paddy". The system of sandy soil classification proposed were consisted of following categories; Type (Sandy paddy)-Sub-type (4)-Texture family (5)-Soil series (48). 4. The variation of productivities according to the proposed scheme was more homogenized than that of the present device. 5. The total extent of sandy paddy soils was 409, 902 ha (32.3% of total paddy) according to the present classification system, but the extent reached 492,983 ha (38.9%) by the proposed system. The provinces of Gyeong-gi (88.923ha), Jeon-bug (69.717 ha), Gyeong-bug (55.390 ha) have extensive acreage of sandy paddy soils, and the provinces that had high ratio of sandy paddy soils were Gang-weon (58.9%), Gyeong-gi (50.5%), Chung-bug (48.5%), Jeon-bug (41.0%) etc. The ratio was increased by the proposed scheme, e.g. 71.4% in the case of Gang-weon prov. 6. According to the suitability group of paddy soils, the sandy soils mostly belong to 3 class (69.1%) and 4 class (29.2%). Coarse loamy textural family (59.2%) and coarse silty (16.1 %) soils were dominantly distributed. 7. The "Red-ox. intergrading subtype" of sandy paddy pertinent to 49.6% (245,012 ha) while the "Oxidized leaching sub-type" reaches to 33.5% (64,890 ha) and the remained 16.9% (83,081ha) belong to "Reduced accumulating sub-type (14.0%) and "Reduced halomorphic sub-type (2.9%)" according to the proposed scheme.

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