• Journal of Distribution Science
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• v.13 no.10
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• pp.73-82
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• 2015

Purpose - This paper aims to investigate whether information asymmetry could explain capital structures in Korean corporations. According to Myers (1984), firms prefer internal funding to external financing due to the costs associated with information asymmetry. When external financing is necessary, firms prefer to issue debt rather than equity by the same reasoning. Since Shyam-Sunder and Myers (1999), numerous studies continue to debate the validity of the theory. In this paper, we show how the theory depends on assumptions and incorporated variables. We hope our investigation can provide helpful implications regarding capital structure, information asymmetry, and other firm characteristics. Specifically, our empirical results are complementary to the analysis of Son and Lee's (2015), a recent study that examines the pecking order theory prediction for Korean retail firms. Research design, data, and methodology - We test empirical models that are some variants of model used in Shyam-Sunder and Myers (1999). The financial and accounting data are provided by WISEfn for the firms listed on the KOSPI during 1990 to 2013. Bond ratings are supplied by the Korea Investor Service (KIS). We take into account the heterogeneity in debt capacity; a firm's debt capacity is measured by using the method of Lemmon and Zender (2010) based on its bond ratings. Finally, we estimate empirical models suggested by Shyam-Sunder and Myers (1999), Frank and Goyal (2003), and Lemmon and Zender (2010). Results - First, we find that Shyam-Sunder and Myers' (1999) prediction fails to explain total debt changes of Korean firms. Second, we find a non-monotonic relationship between total debt changes and financial deficits with respect to debt capacity. This contradicts the prediction of Lemmon and Zender (2010) that argues the pecking order theory survives with a monotonically increasing relationship. Third, we estimate a negative correlation coefficient between financial deficit and current debt changes. The result is the complete opposite of the prediction of Lemmon and Zender (2010). Finally, we also confirm the non-monotonic relationship between non-current debt changes and financial deficits with respect to debt capacity. Yet, the slope of coefficient is smaller than that of total debt change case. Indeed, the results are, to some extent, consistent with the prediction of pecking order theory, if we exclude the mid-debt capacity firms. Conclusions - Our empirical results complementary to the analysis of Son and Lee (2015), a recent study focusing on capital structure in Korean retail firms; their paper suggests interesting topics regarding capital structure, information asymmetry, and other firm characteristics in Korean corporations. Contrary to Son and Lee (2015), our results show that total debt changes and current debt changes are inconsistent with the prediction of Shyam-Sunder and Myers (1999). However, similar to Son and Lee (2015), non-current debt changes are consistent with the pecking order prediction, in the case of excluding the mid-level debt capacity firms. This contrast allows us to infer that industry characteristics significantly affect the validity of the pecking order prediction. Further studies are needed to analyze the economics behind this phenomenon, which is beyond the scope of our paper. In addition, the estimation bias potentially matters regarding the firm-level debt capacity calculation. We also reserve this topic for future research.

• The Journal of Internal Korean Medicine
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• v.25 no.4
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• pp.25-33
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• 2004

Objective : The effects of Indium-Gallium-Aluminium-Phosphide(InGaAlP) laser transcutaneous irradiation on heart rate variability(HRV) in healthy adults are investigated with power spectrum analysis(PSA) of HRV. Methods : The control group consisted of 20 healthy volunteers (10 men, 10 women). The experiment was divided into 5 different periods, the pre-1st laser period(10 minutes), the 1st laser period(30 minutes), the post-1st laser period(5 minutes), the 2nd laser period( 30 minutes) and the post-2nd laser period(30 minutes). HRV was measured for 5 minutes at the pre-1 st laser period, the post-l st laser period and the post-2nd laser period. The laser period is the period in which InGaAlP laser transcutaneous Irradiation treatment occurs. Results : 1. SDNN of volunteers at post-1st laser period and post-2nd laser period significantly increased compared with that of the pre- 1 st laser period. 2, Ln(VLF) at post-I st laser period significantly increased compared with that of pre-1st laser period, while Ln(HF) at post-2nd laser period significantly decreased compared with those of pre- I st laser period and post-1st laser period, 3. Ln(TP) at post-1st laser period and post-2nd laser period significantly increased compared with that of pre-1st laser period, 4, LF/HF Ratio at post-2nd laser period significantly increased compared with those of pre-1st laser period and post-1st laser period. But the other variables did not significantly change. Conclusions : The results suggest that InGaAlp laser transcutaneous Irradiation in healthy adults is associated with the autonomic nervous systems. Further study is needed for investigating the effects of laser irradiation on autonomic nervous systems.

• Journal of Korean Society of Transportation
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• v.35 no.5
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• pp.396-408
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• 2017

In Korea, the number of elderly has been increasing rapidly. So it is also expected that the economic activity and the trip frequency of the elderly will increase. On the other hand, elderly related accidents such as falls during walking are steadily increasing and the satisfaction about pedestrian environment of elderly is very low. In this paper, we found one of the reasons for these dissatisfaction in pedestrian facility, which is not considering the walking ability (about 75% of non-elderly person) of the elderly. So, we analyze the kinematic walking characteristics of the elderly with the motion analysis system, when the elderly use stairs. As a result of analysis of various walking variables, the current standard for stairway height in Korean law (18cm) requires excessive force to elderly so it was difficult for elderly to keep the balance of the body in ascending and descending walk of stairs. In this paper, we propose the stair design criteria through the cluster analysis of walking parameters reflecting the gait characteristics of the elderly. This change is not a big for non-elderly person, but it can promote more socioeconomic activities for the elderly.

• Journal of Educational Research in Mathematics
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• v.23 no.4
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• pp.467-490
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• 2013

Correlation is a basic statistical concept which is necessary for understanding the relationship between two variables when they change values. In the middle school curriculum of Korea, only informal definition of correlation is taught with two-way data representations such as scatter plots and contingency tables. In this study, we investigated Korean high school students' understanding of correlation using a test consisting of 35 items about interpretation of scatter plot, contingency table, and text in realistic situation. 216 students from a high school in Seoul took the test for 20 minutes. From the results, we could observe the following: First, students did not have right criteria for determining the strength of correlation presented in scatter plots. Most of students could determine if there is correlation/no correlation and if the correlation is positive/negative by seeing the data presented in scatter plots. However, they did not judge by the closeness to the regression line but rather judged by the closeness between data points. Second, when statements about comparing the strength of correlation in the context of real life situation were given in text, the students had difficulty in understanding the distribution-related characteristic of the bi-variate data. Students had difficulty in figuring out the local distribution characteristic of data, which cannot be guessed merely based on the expression 'The correlation is strong' without statistical knowledge of correlation. Third, a large number of students could not judge the association between two variabels using conditional proportions when qualitative data are given in 2-by-2 tables. They made judgement by the absolute cell count and when the marginal sum of two categories are different for explanatory variable they thought the association could not be determined. From these results, we concluded that educational measures are required in order to remove such misconceptions and to improve understanding of correlation. Considering that the current mathematics curriculum does not cover the concept of correlation, we need to improve the curriculum as well.

• Korean Journal of Health Education and Promotion
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• v.11 no.1
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• pp.43-56
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• 1994

Although the officially confirmed incidence of the acquired immune deficiency syndrome(AIDS) has remained low thus far in Korea, the progression of the pandemic has been rapid, concerned about an eventual increase in transmission. Until a vaccine or cure is found, public information and education remain an important weapon against AIDS. For the year 2000, the current WHO projection is that there will be a cumulative total of 40 million HIV infections in man, woman and children, of which more than 90％ will be in the developing countries. The incerased mortality among adults and children has raised concerns that AIDS may become so devastaing as to reverse positive population growth rates and wipe out entire population. In order to plan for the rising incidence of patient with AIDS, an assessment of AIDS-related cognition and behavior, attitude of the recognized high-risk groups is necessary. Considering that undergraduates have sexuality active and more oriented toward sexual concerns than other ages. Adolescents today are more sexually involved than in the past: The media, including films, music, and television, reinforce sexual concerns by preseating images of highly sexual adolescents. Incidence of both petting and sexual intercourse in higher and occurs at earlier ages, they are important reservoir of AIDS infection. Hence, it has become important to emymerats and describe the knowledge, attitude and behavior of them, I want.. This information will eventually guide the direction of change in public policies and education programs to meet the challenges of AIDS. The objective of this study were to identity Knowledge, Attitude, Experience of Sex and AIDS in Korea. The data were collected by survey at Korean Federation for AIDS Affairs, INC. and J university, K junior college. After October in 1993, surveyed with 507 student during their's college days in Seoul. The questionnaire was designed to provide information on sex and AIDS-related knowledge and attitudes and experience. AIDS-related knowledge was measured by using 26 questions on mode of transmission and AIDS-related attitudes were measured by 7 questions, AIDS-related experience was measured by 5 questions. There were the main dependent variables in our study, In conclusion, students during their university day need to develop AIDS-preventive education programs. Clearly, the many AIDS-prevention educational effort need to be guided by well trained health agents. Financial supports from all sectors (i.e., public and private) of our society are required to achieve that end. Further researches on AIDS-related Knowledge and Attitude and behaviors of undergraduates are needed for the development of comprehensive AIDS prevention programs.

• Journal of the Korea Society of Computer and Information
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• v.17 no.6
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• pp.201-209
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• 2012

This study was conducted in order to empirically analyze factors affecting the quality of life in the elder resulting from the use of elderly leisure facilities in the community. For this purpose, we surveyed the elder using the senior health town of Gwang-ju Metropolitan City to see whether the quality of life in the elder is influenced by factors such as facilities' environment within the health town, the capacity for the staff and instructors, and the elders' satisfaction with programs. The results of this study are expected to provide practical solutions for enhancing the quality of life in senior users. The survey was performed with 1,038 elders aged over 60 who were using the senior health town of Gwang-ju Metropolitan City by using a self-administered questionnaire and being interviewed with surveyors. The period of the survey was from the 10th to 15th of December, 2010. According to the results of this study, variables affecting the elders' quality of life were academic qualification (B= .074, p<0.05), instructors satisfaction (B=.172, p<0.001), staff satisfaction (B=.104, p<0.01), and facilities and environment satisfaction (B=.217, p<0.001). That is, the lower academic background they have, the higher instructors', staff's, facilities and environment's satisfaction are, the quality of life in the elder was positively affected. In particular, facilities and environment's satisfaction show a relatively high effect and this suggests the necessity to modernize cultural and leisurely facilities in community for senior citizens and create pleasant environment in order to improve the quality of life in the elder.

• Anxiety and mood
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• v.15 no.2
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• pp.109-114
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• 2019

Objective : The purpose of this study was to investigate changes in the satisfaction levels and mental health among North Korean defectors over two years. Methods : At the beginning of the study, the subjects were comprised of 300 North Korean defectors registered with a regional adaptation center (the Hana Center) in South Korea. Participants reported self-questionnaires including socio-demographic variables and self-rating scales for satisfaction levels, depression symptoms, trauma-related symptoms, resilience and alcohol use behavior. In the follow up study after two years, 189 North Korean defectors participated in an online survey, responding to the same questionnaires as at baseline. Results : The self-rated scores for satisfaction with one's overall life (p=0.008), sense of autonomy (p=0.001), sense of physical health (p<0.001), and expected life satisfaction five years later (p<0.001) had all decreased significantly at follow-up after two years. Depression symptoms (p<0.01) and trauma-related symptoms (p<0.001) increased significantly over two years, and the resilience score (p<0.01) decreased significantly during the same period. No significant differences in alcohol use behavior (p=0.059) were observed at follow-up. Conclusion : Satisfaction levels among North Korean defectors gradually decreased over the follow-up period, and this may be due to the difficulties encountered in the process of assimilating to daily life in South Korea. Economic, medical, and psychological support is needed for successful assimilation of North Korean defectors.

• The Journal of Korean Obstetrics and Gynecology
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• v.22 no.4
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• pp.101-108
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• 2009

Purpose: Integrative studies have been made to review the correlationship of menstrual period with obesity and stress, and the relationship between stress and obesity has been reconfirmed through the study. Methods: Among the first time outpatients who visited the gynecological department of the OO oriental medical center from May 1st to September 1st of the year 2009, total 114 patients were included for the study by excluding the patients who received uterine hysterectomy, patients taking hormonal medications, and the patients who installed intrauterine devices. Survey has been made to investigate patients' age, menstrual period and duration of menstrual period. The investigation for the degree of obesity and stress was conducted as in below. Results: 1. From the menstrual cycle difference reviewed by Gonadosomatic index (GSI), the severe GSI group tended to show longer menstrual cycle than moderative GSI group. 2. From the menstrual cycle difference reviewed by Body Mass Index (BMI), longer menstrual cycle was observed from the abnormal BMI group than the normal BMI group. 3. No correlative probability values of GSI and BMI were observed. 4. Although the linear regression analysis result of BMI and GSI with the menstrual cycle did not show any statistical significance, the study resulted to show a tendency. Conclusion: Although the correlationship of menstrual cycle with obesity and stress did not show any significance, it is considered that the menstrual period could be affected by the combination of the variables rather than by independent variable.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.37 no.1
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• pp.203-215
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• 2017

Recently, interest in Pedestrian Navigation Service (PNS) is being increased due to the diffusion of smart phone and the improvement of location determination technology and it is efficient to use landmarks in route guidance for pedestrians due to the characteristics of pedestrians' movement and success rate of path finding. Accordingly, researches on extracting landmarks have been progressed. However, preceding researches have a limit that they only considered the difference between buildings and did not consider visual attention of maps in display of PNS. This study improves this problem by defining building attributes as local variable and global variable. Local variables reflect the saliency of buildings by representing the difference between buildings and global variables reflects the visual attention by representing the inherent characteristics of buildings. Also, this study considers the connectivity of network and solves the overlapping problem of landmark candidate groups by network voronoi diagram. To extract landmarks, we defined building attribute data based on preceding researches. Next, we selected a choice point for pedestrians in pedestrian network data, and determined landmark candidate groups at each choice point. Building attribute data were calculated in the extracted landmark candidate groups and finally landmarks were extracted by principal component analysis. We applied the proposed method to a part of Gwanak-gu, Seoul and this study evaluated the extracted landmarks by making a comparison with labels and landmarks used by portal sites such as the NAVER and the DAUM. In conclusion, 132 landmarks (60.3%) among 219 landmarks of the NAVER and the DAUM were extracted by the proposed method and we confirmed that 228 landmarks which there are not labels or landmarks in the NAVER and the DAUM were helpful to determine a change of direction in path finding of local level.

• Journal of the Korean Society for information Management
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• v.38 no.3
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• pp.141-174
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• 2021

In this study, by examining the actual usage data of the university library website before and after COVID-19 outbreak, the usage behavior of users was analyzed, and the data before and after the virus outbreak was compared, so that university libraries can provide more efficient information services in a pandemic situation. We would like to suggest ways to improve it. In this study, the user traffic made on the website of University C was 'using Google Analytics', from January 2018 to December 2018 before the oneself of the COVID-19 virus and from January 2020 to 2020 after the outbreak of the virus. A comparative analysis was conducted until December. Web traffic variables were analyzed by classifying them into three characteristics: 'User information', 'Path', and 'Site behavior' based on metrics such as session, user, number of pageviews, number of pages per session time, and bounce rate. To summarize the study results, first, when compared with data from January 1 to January 20 before the oneself of COVID-19, users, new visitors, and sessions all increased compared to the previous year, and the number of sessions per user, number of pageviews, and number of pages per session, which showed an upward trend before the virus outbreak in 2020, increased significantly. Second, as social distancing was upgraded to the second stage, there was also a change in the use of university library websites. In 2020 and 2018, when the number os students was the lowest, the number of page views increased by 100,000 more in 2020 compared to 2018, and the number of pages per session also recorded10.46, which was about 2 more pages compared to 2018. The bounce rate also recorded 14.38 in 2018 and 2019, but decreased by 1 percentage point to 13.05 in 2020, which led to more active use of the website at a time when social distancing was raised.