• The Korean Journal of Financial Management
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• v.21 no.2
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• pp.99-123
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• 2004

We focus in this study on incremental financing decisions and estimate a logit model for the probability a firm will choose a private placement over a public bond issue. We hypothesize that information asymmetry, financial risk, agent cost, and proprietary information may affect a firm's choice between public debt and private placements. We find that as the size of firm increases, the probability of choosing a private placement declines significantly. The age of the firm, however, is not a significant factor affecting the firm's choice between public and privately-placed bond. The coefficients on the firm's leverage and non-investment grade dummy are significantly positive, meaning firms with high financial risk and credit risk select private placements. The findings regarding agency-related variables, PER and Tobin's Q, are somewhat complex. We find significant evidence that firms with high PER prefer private placements to public bonds, suggesting that borrowers with options to engage in asset substitution or underinvestment are more likely to choose private placements. The coefficient of Tobin's Q is negative, but not significant, which weakly support the hold-up hypothesis. When we construct an interaction term on the Tobin's Q with a non-investment rating dummy, however, the Tobin's Q interaction term becomes positive and significant. Thus, high Tobin's Q firms with a speculative rating are significantly more likely to choose a private placement, regardless of the potential hold-up problems. The ratio of R&D to sales, proxy for proprietary information, is positively significant. This result can be interpreted as evidence in favor of a role for proprietary information in the debt sourcing decision process for these firms.

• Journal of Intelligence and Information Systems
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• v.22 no.2
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• pp.33-56
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• 2016

Many researchers have focused on developing bankruptcy prediction models using modeling techniques, such as statistical methods including multiple discriminant analysis (MDA) and logit analysis or artificial intelligence techniques containing artificial neural networks (ANN), decision trees, and support vector machines (SVM), to secure enhanced performance. Most of the bankruptcy prediction models in academic studies have used financial ratios as main input variables. The bankruptcy of firms is associated with firm's financial states and the external economic situation. However, the inclusion of qualitative information, such as the economic atmosphere, has not been actively discussed despite the fact that exploiting only financial ratios has some drawbacks. Accounting information, such as financial ratios, is based on past data, and it is usually determined one year before bankruptcy. Thus, a time lag exists between the point of closing financial statements and the point of credit evaluation. In addition, financial ratios do not contain environmental factors, such as external economic situations. Therefore, using only financial ratios may be insufficient in constructing a bankruptcy prediction model, because they essentially reflect past corporate internal accounting information while neglecting recent information. Thus, qualitative information must be added to the conventional bankruptcy prediction model to supplement accounting information. Due to the lack of an analytic mechanism for obtaining and processing qualitative information from various information sources, previous studies have only used qualitative information. However, recently, big data analytics, such as text mining techniques, have been drawing much attention in academia and industry, with an increasing amount of unstructured text data available on the web. A few previous studies have sought to adopt big data analytics in business prediction modeling. Nevertheless, the use of qualitative information on the web for business prediction modeling is still deemed to be in the primary stage, restricted to limited applications, such as stock prediction and movie revenue prediction applications. Thus, it is necessary to apply big data analytics techniques, such as text mining, to various business prediction problems, including credit risk evaluation. Analytic methods are required for processing qualitative information represented in unstructured text form due to the complexity of managing and processing unstructured text data. This study proposes a bankruptcy prediction model for Korean small- and medium-sized construction firms using both quantitative information, such as financial ratios, and qualitative information acquired from economic news articles. The performance of the proposed method depends on how well information types are transformed from qualitative into quantitative information that is suitable for incorporating into the bankruptcy prediction model. We employ big data analytics techniques, especially text mining, as a mechanism for processing qualitative information. The sentiment index is provided at the industry level by extracting from a large amount of text data to quantify the external economic atmosphere represented in the media. The proposed method involves keyword-based sentiment analysis using a domain-specific sentiment lexicon to extract sentiment from economic news articles. The generated sentiment lexicon is designed to represent sentiment for the construction business by considering the relationship between the occurring term and the actual situation with respect to the economic condition of the industry rather than the inherent semantics of the term. The experimental results proved that incorporating qualitative information based on big data analytics into the traditional bankruptcy prediction model based on accounting information is effective for enhancing the predictive performance. The sentiment variable extracted from economic news articles had an impact on corporate bankruptcy. In particular, a negative sentiment variable improved the accuracy of corporate bankruptcy prediction because the corporate bankruptcy of construction firms is sensitive to poor economic conditions. The bankruptcy prediction model using qualitative information based on big data analytics contributes to the field, in that it reflects not only relatively recent information but also environmental factors, such as external economic conditions.

• Journal of Korea Association of Health Promotion
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• v.2 no.1
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• pp.1-8
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• 2004

Background : Since 2001 the Korean Association of Health Promotion has attempted to establish her own reference valves that can be used in her all fifteen branch laboratories instead of using those adapted from the published data or there commended data by the reagent companies supplied as inserts. However, the previous two reference values derived from the statistics(year 2001 and 2002) were need to adjust to apply to actual practice. Besides there was an unavoidable situation that the reagent has to be changed to other companies in 2002 that creates another statistical problem. Subsequently, the third attempt to derive the reference ranges of tests in KAHP to solve those problems and define common)v acceptable reference ranges was done and and reported here. Methods : Al1 the results performed during January 2, 2003 through September 30, 2003 were collected in Excel tile format. All the data include dthe necessary information such as age and sex. The age was grouped in six; baby(0-3y), children(4-l2y), adolescent(13-l8y), adult(19-S4y), younger elderly (65-79y),old elderly(oyer 80y), with references of statistics in medical informatics and WHO classification. The data were statistically analyzed with SAS 6.04 for-Gaussian distribution as the previous two occasions. None of the tests showed Gaussian distribution. These procedures had been repeated twice or three times after trimming out the results lying outside three standard deviations. Though, all the tests showed non-Gaussian distribution. Subsequently, the reference ranges were defined in the range from the point of lower 2.5% to the point of higher 97.5 %. And in case the lower range could be "0", the reference ranges were defined in the range of 0 to 95%.Results : The reference ranges of most of 56 test items were newly assigned. Also with adaptation of the recommendation of WHO etc. on fasting blood sugar, hemoglobin, cholesterol. Among these there were eight tests that needed reference ranges by the age groups and nine tests by the sex. Conclusions : The third attempt will credit more the reference range of all15 laboratories of Korean Association of Health Promotion, which will be essential part of the better service to the patient and clients to visit KAHP.

• The Journal of the Korea Contents Association
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• v.10 no.6
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• pp.258-274
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• 2010

Along with hardware implementation of cultural arts, the importance of cultivating and securing professionals who are able to operate and mange it from the political perspective is highlighted as a political issue. In addition, with growing public demand for culture, performing arts are enlarged and professionalized, and this increased the number of large-scale musicals and activated exchanges with overseas performances, which raised the demand for personnel of performing technology. Like this, growing theaters require professionals in the performing technology field for technically safe and quality performance. The certification system for performing arts professionals is to develop quality of theaters and performing arts by increasing vocational professionalism and safety in the performing technology field. This system performed since 2000 is getting positioned, and employees who worked for the performing technology field at this time showed a lot of attentions with certainty they would receive credit for artistic professionalism and raise pride as a performing arts professional. However, the government's political strategy to secure professionals of cultural arts and interest in human resource(HR) policy in the performing arts field were relatively insufficient. Therefore, this study examined the problems by looking into actual conditions regarding operation and role under the initial purpose of the certification system, and purposed the improvement plan as a first certification system to cultivate Korean performing arts professionals.

• Journal of Technologic Dentistry
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• v.31 no.4
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• pp.45-52
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• 2009

This study is analyzed to conduct better on-site practices with recognizing importance of the clinical practice of Dept. of dental technology and use it as a basic material in the clinical practice. Target people who are students studying dental technology in D college in Daegu were questioned by survey. Study results below 1. Average score of the survey about satisfaction of the operating method of clinical practice shows 3.26. In detail elements, 'credit assignment(10 credits)' is 3.65 as the highest score, 'execution period(vacation)' is 3.50, 'choice of the clinical practice organization' is 3.25, 'measures after practice' is 2.98 and 'pre-education' is 2.98 as the lowest score. 2. Through the real clinical practice, 'experience of new equipments and technology' is 3.64 as the highest score, 'choice of lecturer' is 3.61, 'guidance way' is 3.49, 'contents properness' is 3.44, 'environment of practice organization' is 3.36, 'evaluation way' is 3.35 and 'practical use of the evaluation material' is 3.18 as the lowest score. 3. The average score of survey about satisfaction after clinical practice of the participated students is 3.46 that is higher than both 'satisfaction about operating method(3.26)' about clinical practice of college and 'satisfaction about organization(3.44)' about environment of dental craft organizations and labs, guidance way of lecturer and evaluation. 4. In the improvement of distribution of the clinical practice evaluation, in the 'practice organization: college' viewpoint, '7:3' is 35.77% as the highest response, '6:4' is 25.20%, '8:2' is 22.76% and '4:6' is 16.26 in regular sequence. 5. In site evaluation reflection of clinical practice, 50% reflection is 32.93% as the highest percentage, 60% reflection is 26.83%, 20% reflection is 20.73% and 80% reflection is 6.10% in regular sequence. In attendance score, it shows percentage of reflecting 50% and 40% is 26.98%, students wanting to reflect 30% is 25.40%, reflecting 10% is 20.63% and no reflecting is 0%. In result of the analyzed data, clinical practice has to be studied more in considering that clinical practice is important point in education of Dept. of Dental Technology and also problems in college and on-site practice need improvements.

• Journal of Arbitration Studies
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• v.19 no.3
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• pp.93-119
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• 2009

Nowadays the number of crimes is increasing rapidly and society is getting more and more dangerous. Recently the criminal aspect of our society, the intelligence, diversity, localized area, as well as for the crime victims also difficult to predict the damage recovery is not easy to change their level of pain and are also serious. This phenomenon is increasingly expected to intensify, the proper response is a factory. The more so if the victim of murder. The criminal mediation working on the operational adjustments Borrower payment, Construction charges, investments and financial transactions due to interpersonal conflicts that occurred as a fraud, embezzlement, breach of trust property crimes such accused, individuals between the defamatory, offensive, encroachment, violating intellectual property rights and private Disputes about the complaint case and other criminal disputes submitted to mediation to resolve it deems relevant to the case who are accused. But the core of a detective control adjustment, adjust the members' representative to the region, including front-line player or a lawyer appointed by the attorney general at this time by becoming parties to this negative view may be ahead. Some scholars are criticizing the current criminal justice system for the absence of proper care for the criminal victims, as an alternative to the traditional criminal justice system. The introduction of the summary trial and related legal cases, the command structure, compensation system, crime victims' structural system can be seen as more classify, crime subject to victim's complaint, By case with a criminal misdemeanor in addition to disagree not punish criminal, minor offense destination, traffic offenders, regular property crime, credit card theft, intellectual property rights violators can be seen due to more categories can try. They sued in law enforcement, Prosecution case has been received and if any one party to the criminal detective Arbitration request arbitration by the parties can agree to immediately contact must be referred to arbitration within 15 days of when the arbitration case will be dismissed. These kinds of early results of the case related to, lawyers are involved directly in the arbitration shall be excluded. Arbitration system is the introduction of criminal justice agencies working to help resolve conflicts caused by adjustment problems will be able to. This article does not argue that we should stick to the traditional justice system as a whole. Instead it argues that the restrictive role of the traditional justice is to be preserved.

• Journal of Distribution Science
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• v.14 no.12
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• pp.71-78
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• 2016

Purpose - This paper is for the Analysis on the Hindrance Factors and Activation Scheme by the Type of Distribution Channel in Direct transaction of Agricultural Products. As the distribution structure of agricultural products has become changable, farmers seem to use the type of direct distribution in order to enhance the receiving price. This study aims to explore the hindrance factors and income variation rate in direct transaction of agricultural produces, specifically focusing on the 167 farmers. Research design, data, and methodology - To ascertain the hindrance factors exactly by the type of distribution channel, the managements were classified by four subcategories, that is high sales percentage with shopping malls, SNS, shopping malls and SNS, and off-line direct transaction. Results - As a result of the hypothesis test, hinderance factors in online direct deal activation were found to be in the order of the difficulty in continuous content production, the difficulty in shopping mall operation and maintenance, and the difficulty in card commission problems, and in the order of the difficulties in continuous content production, the difficulty in continuous content production, the difficulty in shopping mall operation and maintenance, and the difficulty in branding for the SNS group. Thus, it can be seen that the difficulty in continuous content production, shopping mall operation and maintenance were found to be the biggest obstacles. In addition, hindering factors in online direct deal activation were found to be in the order of the difficulty in credit card settlement, the difficulty in publicity, and the difficulty in dealing with unsold goods. The group with high sales rate in shopping mall was found to be increased by 23.9% in the gross income compared to the previous year, the group with high SNS sales ratio increased by 56.5%, the group with direct offline transaction increased by 37.1%, among which the group with the highest increase rate of SNS sales ratio was found to be the highest from the rate of increase/decrease of the income, which was statistically significant. Conclusions - It can be suggested that government and local government may provide agricultural management with supporting plan which in turn can activate direct transaction in any possible ways.

• Journal of the Korean Society of Clothing and Textiles
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• v.34 no.2
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• pp.371-384
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• 2010

This research investigates the historical changes of the educational system for the clothing departments at vocational high schools. According to the growth of the fashion industry, employment potential in the clothing departments of the vocational high schools, numerical changes in the educational statistics, and curriculums were investigated by papers, reports, and statistic data. The statistic data were derived from the 'Center Educational Statistics and Information', 'School Information' (Hak-gyo Alimi), 'Korean Statistical Information Services' and internet home pages of vocational high schools. Technical service workers that graduate from clothing departments and vocational high schools have limited competitiveness in a thriving fashion industry field. Highly developed fashion industries require more professional workers in fashion design, fashion marketing, and fashion materials. Compared to 1994, when 35 classes were conducted in 5 vocational high schools, 69 classes are now conducted at 15 schools. They have over 2,000 students and produce over 600 graduates. However, 222 credits of the $1^{st}$ curriculum in 1958 went down to 82 credits in the 2007 revised curriculum to complete the credits of clothing departments. The 15 courses of the 1st curriculum fell to 5 courses in the 2007 revised curriculum on the number of major subjects. It is a fundamental problem that major courses in clothing education have been excessively reduced despite the demand for of highly specialized workers in the fashion industry. In the view of operating conditions of those schools, there were several problems such as the wide gaps in the curriculum, limited equipment, the supply of teachers, and counseling on the choice of college or a career. In conclusion, the following measures are required: 1) the increase of complement credits in major subjects and renovation of curriculum, 2) national substantial support to change the social circumstance concerning vocational education and occupational consciousness, 3) operation of credit approving systems in universities and colleges for students that have completed the same courses at vocational high schools, 4) designing realistic programs for vocational education and cooperation systems with corporate enterprises.

• The Korean Journal of Food And Nutrition
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• v.2 no.1
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• pp.61-72
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• 1989

This study was conducted to gather the baseline data on realities of experimental-practice and opinions toward spot-practice, and to examine how to cope with the problems raised at the Department of Food and Nutrition of Junior Technical College in Korea. Questionnaires were gathered from 42 chairmans of the Department of Food and Nutrition and 140 Present dieticians worked in Seoul, Bucheon am Seongnam area. The results are as follows, First, as a whole, each college had 2~3 experimental laboratory (Lab), in which Cooking Science Lab. Chemistry Lab and Microbiology Lab were occurred at higher frequency as Lab's name. Second, the numbers per experimental-practice class were more than 40 at most colleges. 85% of Present dieticians have answered to feel too much numbers per the class during their college days, whereas professors' opinions toward the numbers per class were suitable at 20~30 persons per class. Third, professors' opinion toward the adquate ratio of the theory subject classes to experimental subject classes was suitable at 60 : 40. Dieticians answered to take the theory subject classes partly or mostly on behalf of the experimental-practice classes. Fourth, the main reasons which inhibited normal experimental-practice class were the class for emphasis on examination, the shortage of experiment budget, the excess of class members, the shortage of experimental Lab Also, this results showed same propensity to present dieticians' opinion toward the same question above. Fifth, among the experimenta1-practice subjects established at the Department of Food and Nutrition, Diet Therapy Lab was highest frequency class emphasized on theory followed by Nutrition Counselling Lab, Food Processing and Storage Lab, Food Hygiene Lab and Food Microbiology Lab in that order. Here, Basic Chemistry Lab, Biochemistry Lab, Food Microbiology Lab were pointed as subjects far from the present task of dieticians. Sixth, Department of Food and Nutrition, as a whole, has conferred with spot-practice arrangement About 50% (all who want to join spot-practice) of second year students took part in spot-practice. In the other way, all colleges except for 2 colleges didn't give the credit for the spot-practice system. Seventh, according to the on analysis on spot-practice places, manufacturing company was at highest frequcney followed by hospitals, elementary school having group feeding system in that order. Especially, 16.7% (5 colleges) of the total colleges sent the students to the research institute related to food industry for spot-practice experience. Eighth, Professors' opinions toward the spot-practice time and period were preferable on summer vacation of second year and for 1~2 weeks, respectively. On the contrary, 74 dieticians answered to the adquate period as for 4 weeks. Ninth, 86 dieticians of the total 140 answered to complete the spot-practice during their college days, which helps the present task of them. Lacks of spot-practice program, Lacks of comprehension of upper personals and lacks of group feeding equipments ranks higher as difficulties in spot-practice management.

• Journal of Technologic Dentistry
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• v.6 no.1
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• pp.31-86
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• 1984

The educational purpose of a junior college is believed to be to effectively train and produce professional workers equipped with the knowledge and skills required in various technical fields of modern society. Since dental technology takes its share of an important role through the enhancement of people's health and the construction of a whlfare society, the prosthodontia department is imposed with a great responsibility to train highly skilled, responsible dental technicians who will meet the social demands. To attain this goal, those who are in charge of the training and education should place emphasis on the development of better educational programs. In other words, the present curriculum which is lacking in many comprehensive aspects, is not satisfactory to provide the students with the required know-how and qualities. As is known, a currculum is the detailed guidance to the efficient operation of an educational program, and that of dental technology is not an exception. In addition, dental technology requires very detailed programs in training, because it requires both diversified and comprehensive application of serveral different fields. The following are the main points to be taken into consideration in developing an effective curriculum for this department. 1. The curriculum should be gradually expanded so that the fundamental subjects will contain principal theories which can be directly applied to the specified majoring subjects. 2. An effective arrangement of time tables should be provided so that basic practice and experiments can be conducted in direct connection with the leatures on the basic theories. 3. For a creative and up-to-date curriculum to help cope with the problems in achieving the aims of technological development and scientific education, intensive and extensive studies should be done on the curricula developed in the advanced countries. 4. The specific majoring subjects should be rearranged to contain new theories which are beneficial to dental technology. As an institution which is spearheaded for ondustrial-educational cooperation, the Junior collegeis role demands that the department should make every possible effect to cultivate highly-skilled technicisns. The following suggestions are made to help work out an ideal curriculum. 1. The basic theory subjects should be selected with consideration toward closely related majoring subjects. 2. The curriculum should be efficiently operated to effectively relate theories with experiments. 3. Subject importance must be rearranged ; It has been found that the ideal proportion of cultural, elective and required subjects is 20%, 20% and 60% respectively. 4. The credit allotments should be reconsidered: The total credits required for completion should preferably be 80; 16 for the cultural and the elective subjects respectively and 48 for the required subject. 5. A Commissioned education system should be formalized for strengthening industrial educational cooperation. 6. Experiments and practice should be intensified with the support of improved laboratory facilities. 7. The training period should be expanded form the present two years to three of four years, in order to produce more highly qualified technicians.