• Korean Business Review
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• v.11
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• pp.217-239
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• 1998

The intial public offerings(IPO) issued by going public must be decided duly and seriously. In these sense, this paper reviewed and analysed synthetically the theories and the empirical studies on the IPO. The implications about the empirical studies on the IPO in korea stock exchanges(KSE) are as follows: First, evaluating the IPO's intrinsic value, the issued firm's characteristics(style, scale, age, reevaluation and goodwill etc.) and business environments(industry, economic states, regulations and the relation with government etc.) will be considered. Evaluating the IPO's relative value, the stock price of firms registered in KOSDAQ market will be appreciated. Second, the income smoothing of an IPO listed in KSE accrued in the first and second years. Accordingly if auditors audit the accounting reports of firms to list in KSE by going public, they should more concern to the income smoothing on the accounting reports. Third, the information accuracy of investment banks and the qualities of auditors negatively correlated with the underpricing of an IPO. It is need to promote the information accuracy of investment banks and the qualities of auditors. Regulatory organizations support to promote the information accuracy of investment banks and the qualities of auditors. Forth, the investors interested in the IPO are to recognize the follows. (1) Relations between the underpricing of an IPO and the ratio of public participation, the issue price, the offer size, the insider ownership, the net asset value per share, the price decision system of an IPO. (2) An entrepreneurs who decided to bring his firm public would like to issue the IPO when company's operating conditions are good.

• Proceedings of the Korea Water Resources Association Conference
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• 2010.05a
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• pp.774-778
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• 2010

Upland erosion pollutes surface waters and often causes serious problems when deposition occurs. This study builds a sediment rating curve using the measured sediment yield and the simulated soil erosion by a GIS-embedded empirical model. The coefficient of determination ($R^2$) between the simulated soil erosion and the measurement sediment yields with rainfall amount are 0.427 for Donghyang and 0.667 for Cheonchen, but the values with rainfall intensity are 0.873 and 0.927 respectively. The data are divided into two groups: one for calibration during 2002-2005 (48 months) and the other for estimation during 2006-2008 (36 months). The first data group (2002-2005) was used to derive the SDR with an aid of soil erosion calculated by the USLE and the measured sediment yield. The mean SDR with rainfall amount is 6.273 and 3.353, respectively, while 4.799 and 2.874 for rainfall intensity. But the standard deviation (STD) with rainfall intensity is 0.930 and 0.407, which is much less than that with rainfall amount (3.746 and 2.090) for both sites. The results show the derived SDR provides reasonable accuracy and rainfall intensity gives better performance in calculating soil erosion than rainfall amount.

• Korean Journal of Environmental Biology
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• v.37 no.1
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• pp.48-59
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• 2019

This study analyzed the water quality characteristics and developed empirical models prior to and after the construction of Baekje Weir, in the Geum River watershed between 2004-2017. The comparative evaluation of the surface water chemistry before and after the four major river projects on the weirs indicated that total phosphorus (TP), based on annual data, rapidly decrease after the construction of the weir while the total nitrogen(TN) decreased. Conversely, chlorophyll-a (CHL) concentration, which is a good indicator of primary productivity, increased after the construction of the weir together with an increase in specific conductivity. Simply put, the construction of the weir led to the decrease in concentrations of N and P due to the increased water residence time (WRT), whereas the CHL :TP ratio greatly increased in magnitude. The regression analysis of the empirical model indicated that CHL had no significant relation (r=0.068, p=0.6102, n=58) with TP before the weir construction, but had a relation with TP after the weir construction (r=0.286, p<0.05, n=56). Therefore, such conditions resulted in an increase in primary productivity on a given unit of phosphorus, resulting in frequent algal blooms. In contrast, seasonal suspended solids (SS) and TP increased during the monsoon period, compared to the pre-monsoon, thereby showing positive correlations (r>0.40, p<0.01, n=163) with precipitation. If the government consistently discharges water from the weir, the phosphorus concentration will be increased due to its reversion to a lotic waterbody from a lentic waterbody hereby reducing algal blooms in the future.

• Information Systems Review
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• v.21 no.2
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• pp.139-155
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• 2019

Recently, the domestic e-commerce market has achieved remarkable growth through the spread of e-commerce throughout the industry. Nevertheless, the ratio of e-commerce use by our small and medium-sized enterprises has turned out to be very low. The reason for this low participation rate of SMEs in B2B e-commerce market is due to various reasons, but also the lack of empirical performance measurement and evaluation considering the characteristics of B2B e-commerce market in which SMEs participate. Therefore, this study was intended to analyze the effectiveness of B2B e-commerce use of B2B e-commerce to companies that are provided in conjunction with e-Marketplace by public credit guarantee agencies with experience in use. To this end, 14 items related to finance derived through prior research were used to conduct management performance analysis and hypothesis verification from a financial perspective. The implications of this study are expected to be that an empirical performance analysis from the financial perspective of a B2B e-commerce guarantee Utilized company can be used as a basis for policymaking for the activation of the B2B e-commerce guarantee in the future, thus contributing to the establishment of a stable business environment by supporting the expansion of e-commerce by small and medium-sized businesses.

• Journal of Distribution Science
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• v.12 no.2
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• pp.105-112
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• 2014

Purpose - This research undertakes to understand the trade structures of both China and Japan to strengthen Sino-Japan economic cooperation and examines impediments to trade between the 2 countries to analyze causes which affect trade and to examine improvements in these areas to find out ways of trade expansion. Through this survey of a defined period of time, we can identify the structural factors of trade dependence in the relationship between China and Japan. Research design, data, methodology - The data were collected from Korea Traders Association, Korea Customs Office and UN Comtrade, from which whole table indexes are calculated by author. This research methodology uses trade related indexes to focus on analyzing comparative advantages based on time-series analysis statistics data (2000~2012), by using the analysis index of Trade Intensity Index (TII), Revealed Comparative Advantage Index (RCA) and Trade Specialization Index (TSI). Results - The export ratio for China against Japan was a little higher in 2000 at 2.867 and the export ratio for China against Japan was sustained in 2005. However, it diminished gradually and reached 1.263 in 2012. During the whole period of 2000~2012, the indexes were maintained without any significant change. However, they are still moving closer to -1. Especially, in 2012 it is the closest it has been to -1. Therefore, Japan has a comparative advantage toward export specialization. On the other hand, China has a comparative advantage toward import specialization. For the whole research period, all indexes were much smaller than 1, which means that China has comprehensively had a comparative disadvantage against Japan for the past 10 years when compared to other industries, even though it had improved in 2000. Conclusions - The summary of conclusions based on empirical analysis research are as follows: First, per the Trade Intensity Index of industries between the 2 countries, we can conclude that export ratio index is 2.867, based on the formula, in 2000, which means the export ratio of China against Japan is a little bit higher. Furthermore, the ratios of 2.259 and 1.263 are indicated in 2005 and 2012 respectively which mean the export ratio of China against Japan was maintained in 2005 but was diminishing gradually as the index is 1.263 in 2012. Second, per the Trade Specialization Index of the shipping industry between China and Japan, -0.379 is indicated in 2000, -0.368 in 2005 and -0.568 in 2012. Looking at the whole period of 2000~2012, the indexes were maintained without any significant change. However, they are still moving closer to -1. Especially, in 2012 it is the closest it has been to -1. Third, per the Revealed Comparative Advantage Index of the automobile industry between China and Japan, the RCA indexes in 2005 and 2012 are 0.246 and 0.306 respectively which are still far from 1 even though the index is improved compared to 2000's value of 0.0001. Therefore, the Chinese automobile industry is very much at a comparative disadvantage to that of the Japanese automobile industry.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.18 no.5
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• pp.245-251
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• 2017

The purpose of the study is to empirically investigate how the higher allowance ratio for bank loans affects the cost of equity using Korean banks from 2002- 2015. First of all, we analyzed the impact of the higher allowance ratio on the cost of equity for Korean banks. Secondly, from the perspective of governance structure, we analyzed the existence of different impacts whether banks were affiliated with financial holding companies. The results showed an increasing impact of higher allowance ratio on the cost of equity for Korean banks. Also, we found these impacts differ whether the banks are affiliated with financial holding companies. The results indicate that the burden of higher allowance ratios for bank loans may provide negative impacts on capital markets. The higher the allowance ratio, which means the greater risk for banks, may help to increase the cost of equity concerning Korean banks.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.31 no.5B
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• pp.393-403
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• 2011

This study theoretically reviewed the empirical G/R ratio by considering three regression and trend lines; the general linear regression curve, linear regression curve passing the origin, and the line passing the origin and the mass center of observed data. This review included the problem of choosing the independent variable and that of considering the zero measurements. This review result was also applied to the Typhoon Maemi in 2003 for their evaluation. Additionally, those regression and trend lines were compared using the RMSE between the corrected radar rainfall and observed rain gauge rainfall to select the most appropriate G/R ratio. Summarizing the results is as follows. First, the results of selecting the rain gauge rainfall as the independent variable were found better than the opposite case. Second, the effect of zero measurements varies depending on the structure of radar and rain gauge rainfall. Finally, the results from the comparison of three regression and trend lines shows that the slope of the regression line passing the origin with its independent variable of rain gauge rainfall would be used most appropriately for the G/R ratio, especially when the corrected radar rainfall is used for the flood analysis. The effect of zero measurements in this case was found not so significant.

• The Journal of Industrial Distribution & Business
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• v.8 no.4
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• pp.47-52
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• 2017

Purpose - This current study will investigate the average financial ratio of top and failed five-star hotels in the Jeju area. A total of 14 financial ratio variables are utilized. This study aims to; first, assess financial ratio of the first-class hotels in Jeju to establishing variables, second, develop distress prediction model for the first-class hotels in Jeju district by using logit analysis and third, evaluate distress prediction capacity for the first-class hotels in Jeju district by using logit analysis. Research design, data, and methodology - The sample was collected from year 2015 and 14 financial ratios of 12 first-class hotels in Jeju district. The results from the samples were analyzed by t-test, and the independent variables were chosen. This was an empirical study where the distress prediction model was evaluated by logit analysis. This current research has focused on critically analyzing and differentiating between the top and failed hotels in the Jeju area by utilizing the 14 financial ratio variables. Results - The verification result of the accuracy estimated by logit analysis has shown to indicate that the distress prediction model's distress prediction capacity was 83.3%. In order to extract the factors that differentiated the top hotels in the Jeju area from the failed hotels among the 14 chosen, the analysis of t-black was utilized by independent variables. Logit analysis was also used in this study. As a result, it was observed that 5 variables were statistically significant and are included in the logit analysis for discernment of top and failed hotels in the Jeju area. Conclusions - The distress prediction press' prediction capability was compared in this research analysis. The distress prediction press prediction capability was shown to range from 75-85% by logit analysis from a previous study. In this current research, the study's prediction capacity was shown to be 83.33%. It was considered a high number and was found to belong to the range of the previous study's prediction capacity range. From a practical perspective, the capacity of the assessment of the distress prediction model in the top and failed hotels in the Jeju area was considered to be a prominent factor in applications of future hotel appraisal.

• Journal of the Korean Society for Nondestructive Testing
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• v.23 no.2
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• pp.98-106
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• 2003

Nondestructive test (NDT) provides much information on concrete without damage of structural functions. Of NDT methods, elastic wave propagation methods, such as ultrasonic pulse velocity (UPV) method and impact-echo (IE) method, have been successfully used to estimate the strength, elastic modulus, and Poisson's ratio of concrete as well as to detect the internal microstructural change and defects. In this study, the concretes with water-binder ratio ranging from 0.27 to 0.50 and fly ash content of 20% were made and then their longitudinal wave velocities were measured by UPV and IE method, respectively. Test results showed that the UPV is greater than the longitudinal wave velocity measured by the If method, i.e., rod-wave velocity obtained from the same concrete cylinder. It was found that the difference between the two types of velocities decreased with increasing the ages of concrete and strength level. Moreover, for the empirical formula, the dynamic Poisson's ratio, static and dynamic moduli of elasticity, and velocity-strength relationship were determined. It was observed that the Poisson's ratio and the modulus of elasticity determined by the dynamic method are greater than those determined by the static test. Consequently, for the more accurate estimation of concrete properties using the elastic wave velocities, the characteristics of these velocities should be understood.

• Journal of the Korean Society for Aeronautical & Space Sciences
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• v.47 no.12
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• pp.904-912
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• 2019

We have studied the numerical analysis about the fragment ejection velocity and spray angle when the High Explosive warhead detonated at proximity distance at an aircraft. To study the physical quantities about the warhead components is very important to assessment the vulnerability of aircraft. Generally, the physical quantities about the components of a warhead such as the mass, length, diameter and charge to mass ratio are unknown. Therefore, it is required to estimate the physical quantities by using physical continuities of similar threats. The empirical formulas to understand the dependence among charge to mass ratio, length and diameter ratio were driven by using the physical parameters of similar threatening such as terrier, sparrow. As a result, we confirmed that the dead mass ratio was closed to 20% of warhead mass since the metal case of the proximity threat acts as a simple carrier. This implies that the effective length and diameter of High Explosive Compound is smaller than the length and diameter of warhead, and become a key to understand the large ejection gradient velocity and small spray angle of fragments within 6 degree.