• KDI Journal of Economic Policy
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• v.36 no.3
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• pp.121-168
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• 2014

After analyzing and finding the explaining factors about the "Effect of My Mom's Friend's Son (MMFS Effect)" with online-surveyed data, we introduce this concept into the conventional job search theory to develop it further. We try to estimate its effects on the hazard rate of youth pre-employment duration with some proxy variables such as his/her parents' schooling, living with parents dummy, increasing rate of consumer price index representing the burdens of parents, monthly temporary/daily workers ratio, relative ratio of quarterly 90th percentile urban household income, monthly average wage differentials between the workers of large and small firms, etc. The results confirm us the fact that so called "MMFS Effect" has been effective enough and strengthened up to recently. The conventional job search theory should be extended to be able to introduce the influencing effects of other person's success, for instance MMFS's success, on the job search behavior of youths, too.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.12 no.2
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• pp.699-711
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• 2011

This study is to perform several major analyses to find any differences in the leverage between the pre- and post-period of the currency crisis. Moreover, another aspect is to investigate a financial aspect which has received relatively little attention to the firms and/or industries in the emerging capital markets in comparison to those in the advanced markets. The purpose of this empirical study is to confirm whether or not, it is myth or reality that Korean business conglomerate, chaebol, firms with subsidized financing from government-owned domestic financial institutions in the pre-financial turmoil, may still maintain their higher leverage, even after the crisis. It was found that firms belonging to the chaebol in Korea maintained higher average book-value and market-value based debt ratios, relative to their counterparts not belonging to the chaebol across all of the tested models. There were positive relationships of IND3(=the chemical industry) and Ind5(=the construction industry) to the book-value leverage. This study identified that there were no differences in the explanatory variables included, between the tested models (that is, without and with including the present value of an operating lease) related to each debt ratio. Since the Korean government continue to improve the corporate governance of the domestic firms in terms of accounting transparency and corporate ownership, it would be more efficient, if utilizing this "new" ratio considering an operating lease as an effective measurement of the level of leverage. In terms of the capital structure, it may also be possible for foreign firms to utilize and benefit from the results obtained in this study when operating their new businesses in Korea, given the economic circumstances such as the ongoing progress of the Korea-America FTA or the Korea-China FTA.

• Korean Journal of Agricultural and Forest Meteorology
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• v.11 no.4
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• pp.213-220
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• 2009

In order to predict the risk of freeze injury for 'Changhowon Hwangdo' peach trees, we used the dormancy depth (i.e., the daily chill unit accumulation during the overwintering period) as a proxy for the short-term, physiological tolerance to freezing temperatures. A Chill-days model was employed and its parameters such as base temperature and chilling requirement were optimized for peach trees based on the 12 observational experiments during the 2008-2009 winter. The model predicted the flowering dates much closer to the observations than other models without considering dormancy depth, showing the strength of employing dormancy depth into consideration. To derive empirical equations for calculating the probabilistic freeze risk, the dormancy depth was then combined with the browning ratio and the budburst ratio of frozen peach fruit branches. Given the exact date and the predicted minimum temperature, the equations calculate the probability of freeze damages such as a failure in budburst or tissue browning. This method of employing dormancy depth in addition to freezing temperature would be useful in locating in advance the risky areas of freezing injury for peach trees production under the projected climate change.

• Journal of the Korean Society of Propulsion Engineers
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• v.4 no.4
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• pp.50-58
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• 2000

Burning rate of the matrix propellant($r_{sb}$) and burning rate along the metal wire($r_w$) were measured and analyzed for the HTPB/AP/Al propellant embedded with Ag wire($\phi$0.15mm) according to weight % of RDX(0~20%). Variation of burning rate increment ratio($r_w$/$r_{sb}$) and pressure exponent(n) was studied for the nitramine propellant having 10% RDX embedded with three kinds of metal(Ag, Cu, and Ni-Cr) of which diameter range is between 0.1~0.6mm. Maximum burning rate increment ratio of the nitramine propellant embedded with Ag wire($\phi$0.1mm) was 5.94 at $20^{\cire}C$, 1000 psia, 16.4% faster than that of HTPB/AP propellant, it is because that autoignition temperature of the nitramine propellant was higher than that of HTPB/AP propellant. Standard deviation of absolute ($r_{wc}$/$r_{we}$)/$r_{we}$ calculated by using new empiracal equation composed of four dimensionless groups, is 6.11% less than that calculated by using original empirical equation composed of three dimensionless group. The new empiracal equation is derived from Buckingham pi theorem using the parameters such as thermal diffusivity, melting temperature. wire diameter, propellant sample diameter, frame temperature, autoignition temperature and matrix burning rate which influence on $r_w$.

• Review of Culture and Economy
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• v.20 no.1
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• pp.129-161
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• 2017

Korea's entertainment industry laid its foundation in the early 2000s when global popularity of South Korean soap operas increased in Japan. K-pop has been recently leading the popularity in China. However, many Korean entertainment businesses are dying out. This study reviews factors influencing business survival for 42 chosen corporations listed in the Korea Stock Exchange based on organizational ecology. When all of the variables are analyzed at the same time, long period of public offering and high wages and global sales ratio positively affect business survival. When the individual variables are separately analyzed, long period of public offering and CEO incumbency and high wages and global sales ratio positively affect business survival. Meanwhile, size of businesses do not affect the survival. The results of this study imply that policies to help businesses list an entertainment corporation in the Korea Stock Exchange, increase sales and reciprocity with other culture are needed. Laws and institutions for evaluating intangible asset value should be improved. The results also suggest that a corporation should carefully consider change of CEO and make the best use of the popularity of Korean culture to increase global sales and pay competitive wages to attract professionals.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.14 no.4
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• pp.179-190
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• 2019

To alleviate financing difficulties of small and medium sized enterprises (SMEs), the government and municipal governments are providing a variety of SME policy funding programs. This study introduced the policy funding program of Gangwon-do and quantitatively analyzed the financial performance of companies supported by the Gangwon-do SME policy fund in the year 2014. Specifically, we compared the financial ratios for three years, from 2013 to 2015, between funded firms and non-funded firms. In addition, we applied a regression analysis to see if the policy funding program contributed to profitability (the operating profit growth and return on equity), stability (the interest coverage ratio and debt-to-equity ratio), and growth (the asset growth and sales growth) of the funded firms. The empirical results show that the firms that received the policy funds did not show any improvement compared to non-funded firms in terms of profitability, stability, and growth. This suggests that Gangwon-do should improve the policy funding program, that currently provides only an interest amount of 2-4% of the corporate loan principal, without any strategic selection criteria for the target funded firms, and without any follow-up management system, after support.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.20 no.5
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• pp.352-362
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• 2019

The study investigates one of the long-standing, but still controversial issues in modern finance from the international and domestic perspectives. That is, financial components and differences on corporate profitability are identified and compared under the primary hypotheses. Empirical research settings include the sample data as KOSPI-listed chaebol firms, time reference covering the post-era of the global financial turmoil and two differently defined profitability indices measured by the market- and the book-value bases. A majority of total 7 explanatory variables except firm size and leverage ratio reveal their statistically significant power to explain profitability indices for the chaebol firms in the first hypothesis. The results are generally compatible with those obtained from their counterparts of non-chaebol firms. In the second hypothesis applying multinomial logistic model, the chaebol firms are classified into three groups according to the level of profitability. It is then confirmed that variables to represent the market-valued debt ratio, business risk and growth potential are financially discriminating factors among the three groups. The study may provide a new vision to identify financial factors of corporate profitability for Korean chaebol firms after the global financial crisis, which can enhance the benefits of interested parties at the government or corporate level in a virtuous cycle.

• Food Engineering Progress
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• v.21 no.2
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• pp.167-173
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• 2017

Purple-fleshed potato powder (PFPP) was investigated to determine optimal mixing ratio with milk powder and dextrin to produce a ready-to-eat mashed potato powder. The rheological characteristics, color, and anthocyanin contents were studied at a different concentration of ingredients. The power-law model was applied to explain the mechanical spectra of mashed potatoes which represented the change in structure induced by different mixing ratios. Mixture design was used to obtain the experimental points used to establish the empirical models to describe the effects of each ingredient on the characteristic of the mashed potato. The results of mechanical spectra showed that both storage and loss moduli (G' and G'') were significantly influenced by PFPP and milk powder concentration. The power law parameters n' and n'' showed higher values for the mashed potato with a lower concentration of PFPP and a higher concentration of milk powder, which showed that the gel networks involved in the mashed potato were weaker. The optimum mixing ratio with the highest redness and anthocyanin content, while maintaining the rheological properties similar to the commercial mashed potato, was determined as PFPP:milk powder:dextrin = 90.49:4.86:4.65 (w/w). The proportions of PFPP and milk powder in the formulation significantly changed the characteristics of mashed potato, whereas no significant effect of dextrin was observed in this formulation.

• Knowledge Management Research
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• v.22 no.2
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• pp.247-268
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• 2021

Investors mainly use PER and PBR among financial ratios for valuation and investment decision-making. I conduct an analysis of two basic financial ratios from a statistical perspective. Financial ratios contain key accounting numbers which reflect firm fundamentals and are useful for valuation or risk analysis such as enterprise credit evaluation and default prediction. The distribution of financial data tends to be extremely heavy-tailed, and PER and PBR show exceedingly high level of kurtosis and their extreme cases often contain significant information on financial risk. In this respect, Extreme Value Theory is required to fit its right tail more precisely. I introduce not only GPD but exGPD. GPD is conventionally preferred model in Extreme Value Theory and exGPD is log-transformed distribution of GPD. exGPD has recently proposed as an alternative of GPD(Lee and Kim, 2019). First, I conduct a simulation for comparing performances of the two distributions using the goodness of fit measures and the estimation of 90-99% percentiles. I also conduct an empirical analysis of Information Technology firms in Korea. Finally, exGPD shows better performance especially for PBR, suggesting that exGPD could be an alternative for GPD for the analysis of financial ratios.

• Journal of the Korean Society of Marine Environment & Safety
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• v.28 no.4
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• pp.648-656
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• 2022

As environmental regulations such as the International Maritime Organization (IMO)'s strategy to reduce greenhouse gases(GHG) are strengthened, technology development such as eco-friendly ships and alternative fuels is expanding. As part of this, ship propulsion technology using energy reduction and wind propulsion technology is emerging, especially in shipping companies and shipbuilders. By securing wind propulsion technology and introducing empirical research into shipbuilding and shipping, a high value-added market using eco-friendly technology can be created. Moreover, by reducing the fuel consumption rate of operating ships, GHG can be reduced by 6-8%. Rotor Sail (RS) technology is to generate a hydrodynamic lift in the vertical direction of the cylinder when the circular cylinder rotates at a constant speed and passes through the fluid. This is called the Magnus effect, and this study attempted to propose a plan to increase propulsion efficiency through a numerical analysis study on turbulence flow characteristics around RS, a wind power assistance propulsion system installed on a ship. Therefore, C_L and C_D values according to SR and AR changes were derived as parameters that affect the aerodynamic force of the RS, and the flow characteristics around the rotor sail were compared according to EP application.