• Management & Information Systems Review
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• v.23
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• pp.41-74
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• 2007

In Korea, corporate merger activities were activated since 1980, and nowadays(particuarly since 1986) the changes in domestic and international economic circumstances have made corporate managers have strong interests in merger. Korea and America have different business environments and it is easily conceivable that there exists many differences in motives, methods, and effects of mergers between the two countries. According to recent studies on takeover bids in America, takeover bids have information effects, tax implications, and co-insurance effects, and the form of payment(cash versus securities), the relative size of target and bidder, the leverage effect, Tobin's q, number of bidders(single versus multiple bidder), the time period (before 1968, 1968-1980, 1981 and later), and the target firm reaction (hostile versus friendly) are important determinants of the magnitude of takeover gains and their distribution between targets and bidders at the announcement of takeover bids. This study examines the theory of takeover bids, the status quo and problems of merger in Korea, and then investigates how the announcement of merger are reflected in common stock returns of bidding firms, finally explores empirically the factors influencing abnormal returns of bidding firms' stock price. The hypotheses of this study are as follows ; Shareholders of bidding firms benefit from mergers. And common stock returns of bidding firms at the announcement of takeover bids, shows significant differences according to the condition of the ratio of target size relative to bidding firm, whether the target being a member of the conglomerate to which bidding firm belongs, whether the target being a listed company, the time period(before 1986, 1986, and later), the number of bidding firm's stock in exchange for a stock of the target, whether the merger being a horizontal and vertical merger or a conglomerate merger, and the ratios of debt to equity capital of target and bidding firm. The data analyzed in this study were drawn from public announcements of proposals to acquire a target firm by means of merger. The sample contains all bidding firms which were listed in the stock market and also engaged in successful mergers in the period 1980 through 1992 for which there are daily stock returns. A merger bid was considered successful if it resulted in a completed merger and the target firm disappeared as a separate entity. The final sample contains 113 acquiring firms. The research hypotheses examined in this study are tested by applying an event-type methodology similar to that described in Dodd and Warner. The ordinary-least-squares coefficients of the market-model regression were estimated over the period t=-135 to t=-16 relative to the date of the proposal's initial announcement, t=0. Daily abnormal common stock returns were calculated for each firm i over the interval t=-15 to t=+15. A daily average abnormal return(AR) for each day t was computed. Average cumulative abnormal returns($CART_{T_1,T_2}$) were also derived by summing the $AR_t's$ over various intervals. The expected values of $AR_t$ and $CART_{T_1,T_2}$ are zero in the absence of abnormal performance. The test statistics of $AR_t$ and $CAR_{T_1,T_2}$ are based on the average standardized abnormal return($ASAR_t$) and the average standardized cumulative abnormal return ($ASCAR_{T_1,T_2}$), respectively. Assuming that the individual abnormal returns are normal and independent across t and across securities, the statistics $Z_t$ and $Z_{T_1,T_2}$ which follow a unit-normal distribution(Dodd and Warner), are used to test the hypotheses that the average standardized abnormal returns and the average cumulative standardized abnormal returns equal zero.

• KOREAN JOURNAL OF CROP SCIENCE
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• v.38 no.5
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• pp.418-424
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• 1993

In order to test combining ability of the cytoplasmic-genetic male sterile(CGMS) and restorer lines with backgrounds of Korean japonica rice varieties, diallel crosses were made among the early maturing CGMS lines Sobaegbyeo A, Odaebyeo A, Gwanagbyeo A and Daeseongbyeo A, and the restorer lines Sobaegbyeo R, Odaebyeo R, Gwanagbyeo Rand Daeseongbyeo R, and among the medium maturing CGMS lines Hwajinbyeo A, Paldal A, Suwon 224 A and Iri 386 A and the restorer lines Hwajinbyeo R, Paldal R, Suwon 224 Rand Iri 386 R, and among the late maturing CGMS lines Nagdongbyeo A, Palkweng A, Hwacheongbyeo A and Milyang 97 A and the restorer lines Nagdongbyeo R, Palkweng R, H wacheongbyeo Rand Milyang 97 R. The fourty eight combinations of the hybrids, their parents and the maintainers were grown in field condition in 1992. General combining ability, relative specific combining ability and relative combining ability for yield of the CGMS and restorer lines were tested. Combining ability of the CGMS lines Odaebyeo A, Iri 386 A, Nagdongbyeo A and Palkweng A, and of the restorer lines Odaebyeo R, Hwajinbyeo R, Hwacheongbyeo Rand Palkweng R was relatively high. Heterobeltiosis for grain yield over the better parent of the early maturing hybrids ranged from -17 % to 15%, and that of the medium maturing ones from -4% to 22%, and that of the late maturing ones from -46% to 30% respectively, Standard heterosis over the standard variety of the early maturing hybrids ranged from -13 % to 12 %, and that of the medium maturing ones from 0 % to 26%, and that of the late maturing ones from -38% to 26% respectively, Positive and negative heterosis for grain yield of the hybrid rices were observed depending on cross combinations, In the positive heterosis hybrids, number of panicles per hill and number of spikelets per panicle contributed mostly to grain yield, while in the negative heterosis hybrids, spikelet fertility and 1000 grain weight were closely correlated to grain yield. Amylose content of the hybrid rices, maintainer and restorer lines was mostly lower than 20 %, and alkali digestion value was higher than 6.0. Grain appearance of the hybrids tested was similar to the korean japonica rice varieties.

• Journal of radiological science and technology
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• v.8 no.2
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• pp.21-28
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• 1985

We serveyed the actual condition of business of the departments of radiology of 45 health conters (except 3) in the area of Seoul, Kyungki and Inchon from March, 1984 to November, 1984. The results are summarized as follows : 1. T.O. of the radiologic technologist is three persons in each health center of Seoul area, and one person in each one of Kyungki and Inchon area. P.O. is 2-5 persons in Seoul area, 1-2 persons in Kyungki or Inchon area. 2. The number of all the radiologic technologists employed now is 75 persons, and among all of them, when analized by position class 7th is 54.7%, class 8th 28.0%, class 9th is 13.3%, and class 6th is 2.7%, and by sex, female is 68.0%, male is 32.0%, by educational background, for the most part, junior college graduates come to 73.3%, by age group 60% of them is in their twenties, 16.0% is in their thirties and forties, 8.0% is in their fifties, and by career after certificate 60% have the career of 1-5 years, 13.3% have the one of 6-7 years or mor than 21 years, and 6.7% have the one of 11-15 years of 16-20 years. 3. All the diagnostic x-ray equipment being kept is 62, and among them flxing equipment is 71.0%, portable equipment is 29.0% and by rating of X-ray equipment, maximum tube current 100 mA is 46.8%, maximum KV 100KVP is 72.6%, the most part. 4. Photofluorographic camera and hood are equipped in every health center. While, as to the radiographic cassettes, $14{\times}14"$ cassetts are equipped in every health center, but cassettes of other sizes are in half of them. 5. Bucky's table is equipped in 11.9% health centers, the automatic processor is in 21.4%, the photofluorographic film changer is 9.5%, the grid is 73.8%, the protective apron is in 88.1%, and the protective glove is in 57.1% health centers. 6. The number of the people who got the x-ray examination for one year (by the year 1989) is the most, 1,000-6,000 in direct radiography of the chest, or 15,0001-45,000 in the health centers of Seoul area, 5,000-20,000 in Kyungki and Inchon area in photofluorography of the chest. Moreover, other radiographies are being taken extremely limitedly in all health centers. 7. In processing types of x-ray film, automatic processing is used in 9 health centers (21.4%), manual tank processing is in 30 (71.4%), and manual tray processing in 3 (7.2%). 8. As for collimation of x-ray exposure field, "continual using restricted by a subject size" has the most part, 78.6% "restricted using at every radiography" has 19%, and the case of "never considered" has 2.4% response. 9. As for the dosimeter used for radiation control, film badge (35.7%) and pocket dosimeter (26.2%) are used, and in 38.1% health centers the dosimeter is not equipped at all. Consideration of the previous radiation exposure is being done in only one health center. 10. Reading of radiographs is mainly depended on the radiologists electively (45.2%) or on the genral practitioners(45.2%).

• Journal of Sericultural and Entomological Science
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• no.11
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• pp.31-44
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• 1970

This experiment is conducted fer method cf bring to perfectly from defective cutting sapling 25 a production method of sapling which is to substitute for conventional graf ting. 1. In green wood cutting root comes out after 15 days of cutting with nearly straight development of root system; after 40 days of cutting, roots with total length of 1119 mms 43 roots, and 5.4 grs a root in total weight obtained. 2. Survival percentage of green wood cutting ranges between 56％ and 90％, average 73％ of that and it varies with natural characteristics of varietes. The results show variety of Gaeryang-Suban and Iljiroe with 80％ as a best ones in contrast with the variety of Shipyung. 3. The varietics or Gaeryang-Suban. Iljiroe, Suwon-Sang No.4, Rosang makes of much more roots than Yongchonchuwoo and Shipyung do. 4. Root ability made good number of roots commercially, when cutting is conducted soaking in 0.01 ％ NAA solution or 0.02％ NAA solution for 2 or 3 seconds as a chemical promoter. 5. Economical measures for increase of scion adapted 1) 2 scions from a green wood 50 cm long should be taken and basal pan of scion at its middle portion should be cut right under the node. 2) Scions below 50cm long may be used. Small scions or growthceased shoots h3ve also considerable root ability enough to be used. 3) Thus far, up 100,000 scions might be produced in 10 a. 6. We can find number of root increased, when cutting the opposite side in obliquity manner at 450. 7. When 110,000 saplings in 10 a. for the production of bring to perfectly from defective cutting sapling planted, quality of stocks does not go to bad condition without any obstacles in practical use. 8. Although the times or grafting delayed until middle of July, quality of sapling goes just a little down. Grafting may be conducted from early June to middle of July separately in several times, and the green wood of prunned mulberry in spring is available for a scion after end of June. 9. 10 grs weight of defective cutting sapling makes 95％ of complete sapling, otherwise 5 or 10 grs in weight of one becomes 80％ of complete sapling with its quality as similar as grafted one. 10. When the sapling planted, its branches should be cut, leaving 3 or 4 buds at the bottom of new branches. 11. In view of economical stand point, production cost of bring to perfectly from defective cutting sapling obtains 52％ of grafting cost.

• Journal of Sericultural and Entomological Science
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• no.11
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• pp.15-22
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• 1970

This experiment is to investigate the influence on business by varying the scouring condition of raw silk. The conditions of experiment are changed by temperature, time concentration and scouring reagent as well as the pH value of scouring solution, involving the repeat number of treatment in the same reagent solution. The results are as follows. 1) The shorter the scouring time, the more lousiness showed on law silk. The difference of lousiness quantity are especially remarkable between 30 min. and 60min, while the appearance of lousiness is slight between 50min. and 90min. 2) The lousiness shape was just like splited end and short wool fiber type during than 60 min. scouring, and splited end and long wool fiber type was appeared during 120 min. scouring. 3) The seperation of threads on silk panel was difficult with undissolved sericin in case of lower than 90$^{\circ}C$ of scouring temperature, so that it was almost impossible to inspect lousiness. 4) In case of repeating one after another scouring in the same solution, the more number of treatment, the less sho wed lousiness. Little difference were appeared in the quantity of lousiness from first to eighth repeated scouring, while large difference of quantity was appeared between 8th and 9th repeated scouring. 5) The quantity of lousiness was also increased until scouring reagent (Marseilles soap) is added to 0.75％, but rather decreased with more than 0.75％ of soap. The most variety of lousiness quantity was occured when the concentration of soap is changed from 0.15％ to 0.20％. 6) The peculiarities of lousiness shape by the concentration of scouring reagent were as followings; most of lousiness are splited end short wool fiber type with lower wool fiber type with higher than 0.75％, and the mixture of both the former and the latter with 0.5％ concentration. 7) The quantity of lousiness by the kind of scouring reagent was the least with 5％ of Na$_2$CO$_3$ solution, and the most with the mixture of 0.25％ Marseilles soap and 0.25％ Na$_2$CO$_3$. 8) The more increased pH value, the more lousiness showed. The peculiarities of lousiness shape was the splited end and short wool fiber type, and the end and long wool fiber type with higher value of pH 11 because of the decreased strength of threads and the cutting of brin. 9) With the discussions mentioned the above, the scouring conditions to decrease the lousiness quantity are summarized as follows. (1) It is better to take the possible long time of scouring. (2) Temperature should be kept higher than 95$^{\circ}C$ for complete scouring. (3) It was the best to use 0.5％ of Marseiles soap as scouring reagent. (4) No good results were produced by using the mixture of scouring reagent. (5) The best pH range of scouring solution was 9.5 to 10.5.

• The Korean Journal of Food And Nutrition
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• v.26 no.4
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• pp.945-951
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• 2013

Changes in fermentation properties and ornithine levels of Baechu Kimchi by storage conditions were investigated. After making and fermenting Kimchi at $15^{\circ}C$ for 32 hr (S1), 36 hr (S2), 40 hr (S3), 44 hr (S4), and 48 hr (S5) during the first 10 days of storage. The Kimchi samples are subsequently stored in the -$1^{\circ}C$ Kimchi refrigerator for up to 60 days. Changes in the pH values and lactic acid contents of S4 and S5 samples are slightly bigger than the S1, S2 and S3 samples which have no significance differences. According to lactic acid bacteria (LAB) number, all samples show the largest augmentation according to the number of Lactobacilli during the first 20 days of storage. After 20 days of storage, the S4 and S5 samples show larger accumulations of LAB than S1, S2 and S3 samples. The Weissella genus is predominated at the 40 day of storage in the S5 sample. Ornithine levels are increased up to 170mg per 100 g during the storage period of 40~50 days in the S5 sample. However, the increase of ornithine levels in S1, S2 and S3 samples is smaller than those of the S4 and S5 samples. These results indicate that the conditions of Kimchi fermentation, which is 48 hr at $15^{\circ}C$ before storage, is proved to be the most superior for ornithine levels within the Kimchi refrigerator.

• Journal of Korean Society of Environmental Engineers
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• v.35 no.4
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• pp.283-288
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• 2013

To evaluate the ability of the submerged plant, Ceratophyllum demersum's (C. demersum) to remove nutrients and to inhibit growth of cyanobacteria, a total of 6 mesocosms were conducted in a batch reactor for 9 days. From the 84 hr of the experiment, C. demersum was stabilized and showed daily cycle trends according to changes in pH and DO levels. The concentration of nutrients, $NH_3{^+}$, $NO_3{^-}$ and $PO_4{^3}$ continuously decreased until 9 days of the experiment, with the rapid decrease in nutrient concentration for the first 24 hours. High correlation coefficient ($r^2{\geq}0.96$, p<0.001) between the amount of C. demersum's biomass per unit area and the nutrients removal level were derived, and greater C. demersum's biomass per unit area showed higher removal efficiency of nutrients. However, there were differences in the C. demersum's activity level between batch reactors with higher and similar density of the C. demersum, but nonetheless water purification effect appears to have a significant influence due to attached algae and microorganisms. The growth rate of harmful cyanobacteria, Microcystis aeruginosa (M. aeruginosa) with C. demersum's density of 2,500 g $fw/m^2$ (100% of cover degree) was 0.31 /day, compared to the growth rate of 0.47 /day for the control group (0% of cover degree). In terms of number of cells, the control group had 1.7 times higher number of cells than the experimental group, proving that C. demersum has the ability to inhibit the growth of harmful cyanobacteria.

• Korean Journal of Ecology and Environment
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• v.51 no.1
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• pp.71-85
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• 2018

A recent topic of interest within ecology is ecosystem services that are importantly connected with biodiversity. Biodiversity is a fundamental component of ecological studies and has been the subject of many studies worldwide. However, studies on the diversity and distribution of freshwater fish were not undertaken in earnest until 2000, and the number of internationally available studies is therefore still limited. In this study, we used data from "The Survey and Evaluation of Aquatic Ecosystem Health (hereafter SEAEH)" within the framework of which whole water systems on the Korean peninsula are annually monitored to investigate and determine the current status of the diversity and distribution of freshwater fish, as well as to elucidate major factors impacting freshwater fish. A total of 130 species from 28 families were identified at around 953 sites in the SEAEH investigation of 2014. The species Zacco platypus (relative abundance: 28.2%) and Z. koreanus (19.3%) were identified as the most abundant species on the Korean peninsula, and besides these 20 endangered species, 51 endemic species and 4 exotic species were also collected. Highest (96 species) and lowest (72 species) diversity were identified in the Han River Watershed and the Yeongsan/Seomjin River Watershed, respectively. The mean endemic rate was 32.7%, which is higher than the previous rate determined in 1995. The exotic species Micropterus salmoides, Lepomis macrochirus and Carassius cuvieri were found in the whole river system except north Yeongdong, whereas Oreochromis niloticus occurred only at three sites due to the cold water temperatures in winter. Totally, 28 species were found to be translocated to different water systems not connected with known original habitats, most translocations occurring in the Nakdong River and the Yeongdong region. Among the translocated species, Opsariichthys uncirostris amurensis, and Erythroculter erythropterus were dominantly distributed in the mid- to lower reaches of Nakdong River where they may be harmful to the native fish assemblages due to their strong predation. The construction of weirs in connection with the "4 River Project" generated changes in fish assemblages before, during and after the project, resulting in altered habitat condition. Especially, a decrease in the number of endemic species and an increase in the abundance of lentic species were seen. Human-induced global warming will allow exotic species requiring high water temperatures to adapt to the environmental conditions of the Korean peninsula, which may enhance the diversity of native fishes and create changes in distribution. For the establishment of realistic and efficient management and protection strategies for Korean freshwater fish, SEAEH, which produces fundamental and quantitative data for Korean streams, is an important and necessary tool.

• Korean Journal of Organic Agriculture
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• v.19 no.1
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• pp.65-82
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• 2011

In order to evaluate the weed suppressing effect of Solanum viarum Dunal. In this study species diversity in patch of S. viarum and allelopathic effects of the aqueous extracts on S. viarum were investigated. Number of species and species diversity in site close to patch of S. viarum were decreased gradually 1site ($7.7{\pm}2.0,\;1.5{\pm}0.2$), 2site ($5.3{\pm}1.2,\;1.2{\pm}0.2$) and 3site ($4.0{\pm}1.7,\;0.9{\pm}0.1$). And total phenolic compounds of soil in survey area were increased gradually site1 ($0.16{\pm}0.01mg\;g^{-1}$), site2 ($0.17{\pm}0.01mg\;g^{-1}$) and site3 ($0.22{\pm}0.02mg\;g^{-1}$). So the number of species and species diversity (r=-0.692, P<0.05) were negatively correlated with increased total phenolic compounds of soil in the survey area. The relative germination ratio, the mean germination time, the relative elongation ratio, the fresh weight and the dry weight of receptor plants are generally getting decreased while the concentration of the aqueous extracts from S. viarum escalate. But every ratio was various depending on the growing regions, the kind of receptor plants and the treatment of the aqueous extracts. Especially, the radicle by injection of the aqueous extracts concentration of S. viarum was influenced more than the shoot on the same condition. The total phenolic compounds on region of S. viarum was gradually increased in stems (fresh $0.56{\pm}0.02mg\;g^{-1}$, dry $1.58{\pm}0.08mg\;g^{-1}$), roots (fresh $1.77{\pm}0.07mg\;g^{-1}$, dry $2.64{\pm}0.06mg\;g^{-1}$), leaves (fresh $6.01{\pm}0.14mg\;g^{-1}$, dry $7.04{\pm}0.29mg\;g^{-1}$), seeds (fresh $6.21{\pm}0.17mg\;g^{-1}$, dry $9.08{\pm}0.73mg\;g^{-1}$) in order. On the contrary, the negative correlation on germination and growth of receptor plants was shown by total phenolic compounds on the each parts of S. viarum. We think that the aqueous extracts of S. viarum showed allelopathic effects on other plants. Therefore, S. viarum holds the higher competitiveness in plant community in Jeju Island and makes possibility of application as natural herbicide.

• KOREAN JOURNAL OF CROP SCIENCE
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• v.65 no.1
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• pp.72-78
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• 2020

In this study, miscanthus with C/N ratio of 224 were applied to the soil and treated with 0 (control), 10 tons and 20 tons·ha^-1 to improve the soil and promote crop growth. As a result, soil organic matter content increased from 11.0 g·kg^-1 before the test to 16.3 after 3 years. Soil cation exchangeable capacity increased to 15.3 cmol_c·kg^-1 after 3 years. In the sweet sorghum, stem was the most thickest at 20 tons·ha^-1 application of miscanthus and the highest juice amount per plant was 60 ml. The yield index multiplied by the soluble solids content of juice and juice amount was the highest at 1,913 for 10 tons application and 1,851, 1,839 for 20 tons, control respectively. Number of sweetpotato storage root were 2,9 in 20-tons application plot, the same as control, and 10-tons application plot was 3.6, the most. Two-year average yields of 20 tons plot and control were low at 2,579 kg/10a and 2,708 respectively, and 10 tons plot was the highest at 3,289. For onions, the biomass application did not effect the yield. but onion plant and leaf length were longer in 20 tons plot than in control or 10 tons. The yield of garlic was 2,630~2,901 kg/10a and there was no effect of miscanthus application. Plot of 10 tons application were the longest in plant and leaf length, and the number of scale was 8.2-8.3 per in bulb, and 8.9 tons·ha^-1 in control. Therefore, it was confirmed the possibility that miscanthus biomass application of about 10 tons·ha^-1 could improve the soil condition and promote crops growth and yield.