• Title/Summary/Keyword: environmental economics

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Effect of Extraction Process on the Physicochemical Characteristics of Seed Oil of Camellia sinensis (추출 공정에 따른 Camellia sinensis 오일의 물리화학적 특성에 관한 연구)

  • Kim, Youn-Soon;Kim, Ran;Na, Myung-Soon;Choi, DuBok
    • Applied Chemistry for Engineering
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    • v.21 no.2
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    • pp.148-153
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    • 2010
  • This study was carried out to investigate the effect of extraction methods on the physicochemical characteristics using seed oil of wild green tea (Camellia sinensis). When the solvent extraction method after grinding and steam treatment (SGS) was used for oil extraction, the yield was highest. The specific gravity was a range of $0.91{\sim}0.94g/cm^{3}$ irrespective of extraction methods of oil. However, the light in the solvent extraction method after grinding (SG), the red in the pressure extraction method after grinding and roasting treatment (PGR), and the yellow in SG method were highest. Among various fatty acids, the concentrations of C16 : 0, C18 : 1 and C18 : 2 were highest, irrespective of extraction methods. Especially, the C16 : 0 concentration was in the order of SG (34.78%), SGS (23.04%), and PRGS method (23.01%), the C18 : 1 concentration was in the order of PGR (43.35%), SGS (42.7%), SG method (39.0%), and in the case of C18 : 2, it was in order of PGR (23.15%), SGS (23.03%), and SG method (15.01%). The saturated fatty acid concentration was in the order of SG (40.59%), PGR (31.61%), and SGS method (30.1%). On the other hand, in the case of the unsaturated fatty acid, it was in the order of SGS (69.9%), PGR (68.39%), and SG method (59.41%). The acid values in the SGS and SG method after 10 days of storage were in the range of 6~8 mgKOH/g. However, in the case of PGR method, it was increased with the increase of storage time and was 49.3 mgKOH/g after 60 days. The peroxide values in the SGS and SG method were in the range of 60~100 mEq/g from 10 to 60 days of storage. On the other hand, when the storage time was increased from 10 to 30 days, it was sharply increased from 60 to 240 mEq/g. The rancidity was in the order of $Fe^{2+}$, $Cu^{2+}$, $Cr^{2+}$, $Zn^{2+}$ and $Ni^{2+}$, irrespective of extraction methods. Especially, when butylated hydroxyanisole (BHA) was added into oil containing 1.0 ppm of <$Fe^{2+}$, the peroxide value was decreased from 539.4 to 216.6%. These results show that seed oil of Camellia sinensis grown in Iksan can be applied as sources for cosmetics, detergents, food, and pharmaceuticals.

A Study on the Establishment of Health Education Subject in Girl's High School (여자고등학교의 보건교육과목 설정에 관한 기초적 조사 연구)

  • 백운경;홍양자
    • Korean Journal of Health Education and Promotion
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    • v.9 no.1
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    • pp.1-13
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    • 1992
  • The purpose of this thesis is to provide the framework of the health education curriculum on a school level which should be accomplishe in futrue and farthermore to establish the health education as a independent and regular course. The relation among the status in quo and the satisfaction degree of health education, the degree of the knowledge about health, the degree of the understanding of the health education and the degree of requirement for the health education curriculum has been analyzed in this paper. The research has been carried out through the questionnaire forms distributed to the girl students and the instructors at a few general senior high school and vocational senior high schools in Seoul, and the consequences are as follows : 1. As to the degree of understanding of the health education, it has been indicated that the health education should be performed one or two hours a week from the elementary school for all the boy and girl students by the experts trained in the departments concerned with health. 2. Concerning the degree of requirement for health education curriculum, the high school girl students have shown the need for first aid, sex education, environmental health, drinking, smoking, drug abuse, maternal and child health, industrial health, safety health, mental health, growth & development, epidemiology, the old health in the order named. On the other hand, the instructors have shown the need for drinking, smoking, drug abuse, sex education, maternal and child health, public health and industrial health also in the order named. The items having low degree of requirement are biostatistics, community health and health administration in case of the gril students and biostatistics, health administration and health economics in case of the instructors. 3. The status in quo and the satisfaction degree of the health education has proved higher in senior high school curriculums than in junior high school curriculums, and the most instructive course about health has turned out to be gymnastics in junior high school and the training course in senior high school respectively. 4. As to the degree of understanding of the health education in case of the girl students, the significance has been found between the health condition and the time for performing the health education, the monthly income and the objects for the health education, and the school records and the school hours per week. The significance has been shown only in regard to the school records in case of the degree of requriement for the health education curriculum. 5. The degree of requirement for the health education in case of the instructors has shown the significance between the teching career and the need for the health education. In addition, the degree of requirement for the health education curriculum has indicated significance with regard to sex and age. 6. The degress of the understanding of the health education according to the degree of knowledge about health and the degree of requirement for the health educatio curriculum have been all turned out to be statistically significant. 8. Among the factors which have an influence on the degree of the understanding of the health education, the recognition of the relation between the health course and the training course has significatly influenced the selection of the health education instructors. In additon, the understanding of the need for the health eduation has significantly influenced the objects for the instructors and the school hours, and the understanding of the need for establishing the health education course has significatly influenced the time for performing the health education.

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Comparison of Cleaning Performance of CFC 113 and the Alternatives (CFC 113과 대체세정제의 세정성능 비교)

  • Row, Kyung Ho;Choi, Dai-Ki;Lee, Youn Yong
    • Analytical Science and Technology
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    • v.6 no.5
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    • pp.521-530
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    • 1993
  • According to the Montreal Protocol, CFC 113, one of the ozone-depleting substances, will be prohibited to use as a cleaning solvent essentially in the electronic industry. Therefore, the development of the alternative cleaning solvents to CFC 113 is being accelerated. A number of the alternative cleaning solvents are avialable on the market. The alternatives of Axarel 32(DuPont), Cleanthru 750H(KAO Chemical), and EC-Ultra(Petroferm) are chosen for the comparison of cleaning performance with CFC 113. The test methods for measuring the cleaning performance were composed of the measurement of the physical properties, the experiments on the material compatibility with cleaning solvents, the measurement of the evaporation rate, and finally the experiments of the removal efficiency. Normally the basic physical properties of the alternatives had higher boiling points, viscosity and surface tension, which were quite different to those of CFC 113. In terms of solubility of rosin-based flux, the solubilities of abietic acid (nonpolar organic) were similar, but those of the activator (polar organic) in the alternatives were better than CFC 113. The evaporation of the alternatives was very slow, compared to CFC 113, which had much lower boiling point. All the cleaning solvents showed the good material compatibility with FR4 and Cu-coated PCB. The better removal efficiencies of abietic acid were obtained when using the ultrasonic mechanical energy over the dipping method. The experiments also indicated the very slow-eavaporating solvent was not desirable with the dipping cleaning method, and the differences in the removal efficiency of the alternatives with the ultrasonic cleaning method were negligible. Among the alternatives, the overall cleaning performances were obsorved as almost similar. Before selecting the ultimate cleaning solvent, the application of cleaning machine, environmental issues, and economics are simultaneously considered with the cleaning performance.

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A Study on the Nursing Needs and Satisfactions of Early Postpartum Women (초기 산욕부의 간호요구도와 만족도에 관한 연구)

  • Yoo, Youn-Ja;Lee, Eun-Ju
    • Women's Health Nursing
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    • v.5 no.3
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    • pp.389-409
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    • 1999
  • This study was carried out to identify the differences between nursing needs and levels of satisfaction of postpartum women during the early postpartum period. The goal of this study was to obtain needed to develope the nursing quality for postpartum women. The subjects were 87 postpartum women who had vaginal delivery at 2 general hospital and 2 maternity hospital in the Ulsan City. The period for the data collection was from June 1 to 29, 1999. The data was gathered using an 98 items questionnaire which was a modified version of a questionnaire the developed by Y. J. Chun. Results found are as follows : 1. The general characteristics of the subjects : The majority of subjects were 25-29 yrs. (57.5%), high school and college graduates(96.5%), unemployed(75.9%), middle ranged economics(93.1%), had no religion(43.7%), male baby(52.9%), birth weight 3-3.5Kg(49.4%), wanted pregnancy(96.6%), no abortion history(50.6%), had antenatal care(89.7%), had prenatal education(32.2%), postnatal education(42.5%), intended breast feeding (46.0%), had resonable self confidence about self(20.7%), infant care(36.8%) and nuclear family pattern(82.3%). 2. The level of nursing needs of overall nursing care(3.93) and the levels of satisfaction(3.86) was relatively high. The nursing needs by category of nursing care, the highest need was in the emotional and psychological care(4.09), and the lowest need was in physical need(3.73). The satisfactions by category of nursing care, the highest satisfaction was in emotional and psychological care(4.11) and the lowest satisfaction was in education in self care(3.64). The significant differences between nursing needs and satisfactions were found on education in infant care(p=.005), and education in self care(p=.020). 3. Among items of physical care, 'accurate medication and treatment(4.21)', 'control of postpartum hemorrhage(4.13)', 'pain control and care of episiotomy wound (4.12)' and 'regular observation of postpartum conditions(4.09)' showed high nursing needs. 'Accurate medication and treatment(4.31)', 'regular observation of postpartum condition(4.24)', 'control of postpartum hemorrhage(4.22)' and 'pain control and care of episiotomy wound(4.12)' showed high satisfaction levels. 4. Among items of emotional and psychological care, 'personal treatment(4.32)', kind and faithful care(4.30)', 'detailed explanation on the treatment or nursing care(4.25)', 'adequate draping during the care and treatment(4.23)' and detailed explanation on a doubt(4.13)', showed high nursing needs, 'personal treatment(4.52)', 'kind and faithful care(4.45)', 'detailed explanation on a doubt(4.24)', 'detailed explanation on the treatment or nursing care(4.21)' and 'adequate draping during the care and treatment(4.18)' showed high satisfaction of nursing care. Difference between the level of nursing needs and satisfaction was significant except item of 'early contacts with their baby and breast feeding'. 5. Among items of environmental care, the highest level of need and satisfaction were on the items of 'neat bedding and clothes(4.05, 4.21)' and 'room cleansing or care of room(4.01, 4.28)'. Differences between the level of nursing care and satisfaction were 'room cleansing of care of room'. 6. Among items of educational needs on self care, 'sitz bath method(4.22)', 'high risk symptoms to immediate clinic visits(4.13)', 'the timing of tub bath(4.05)' and 'good secretion of breast milk(4.03)', showed high nursing needs, 'sitz bath method(4.22)' showed high satisfaction of nursing care. Differences between the level of nursing care and satisfaction were 'the timing of hair shampoo', 'the timing of tub bath', ' the method of pad change', 'postpartum exercise', 'good secretion of breast milk', 'maintenance of breast figure', 'contraindicated drugs in postpartum women', 'kegel exercise' and 'breast self examination'. 7. Among items of educational needs on infant care, 'immunization of infants(4.36)', 'symptoms of sickness to immediate clinic visits(4.28)'. 'safety and emergency care(4.28)', 'umbilical care(4.26)', 'feeding times and intervals(4.24)', 'normal growth and development of infant(4.24)' and 'infection control(4.22)', showed high level of nursing care, 'immunization of infants(4.21)', 'feeding times and intervals(4.17)', were high satisfaction items showed significant differences between the level of nursing care and satisfaction. 8. Relationship between nursing needs and levels of satisfaction among postpartum women were as follows : 1) Physical area : There were no significant differences in the level of nursing needs, but satisfaction levels were significantly different among 'working mothers', 'baby's weights', 'baby's sex', 'planning of feeding' and 'routes of receiving postpartum informations'. 2) Emotional and psychological area : The level of nursing needs were significantly different in the area of 'confidence in self care'. Satisfaction levels were significantly different among 'baby's sex', 'baby's weights', 'the confidence of infant care' and 'working mother'. 3) Environment area : There were on significant differences in the level of nursing needs, but satisfaction levels were significantly different among 'maternal age' and 'baby's weights'. 4) Education in self care : The level of nursing needs were significantly different among 'parity history' and 'type of family formation'. Satisfaction levels were significantly different among 'working mother', 'baby's sex', 'antenatal care', 'postpartum education', 'planning of feeding', 'routes of receiving postpartum informations'. 5) Education in infant care area : The level of nursing needs were significantly different among 'parity history'. Satisfaction levels were significantly different among 'baby's sex', 'receiving postpartum education or not' and 'working mother'.

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The Contribution of Innovation Activity to the Output Growth of Emerging Economies: The Case of Kazakhstan

  • Smagulova, Sholpan;Mukasheva, Saltanat
    • Journal of Distribution Science
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    • v.10 no.7
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    • pp.33-41
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    • 2012
  • The purpose of this study is to analyse the state of the energy industry and to determine the efficiency of its functioning on the basis of energy conservation principle and application of innovative technologies aimed at improving the ecological modernisation of agricultural sectors of Kazakhstan. The research methodology is based on an integrated approach of financial and economic evaluation of the effectiveness of the investment project, based on calculation of elasticity, total costs and profitability, as well as on comparative, graphical and system analysis. The current stage is characterised by widely spread restructuring processes of electric power industry in many countries through introduction of new technical installations of energy facilities and increased government regulation in order to enhance the competitive advantage of electricity market. Electric power industry features a considerable value of creating areas. For example, by providing scientific and technical progress, it crucially affects not only the development but also the territorial organisation of productive forces, first of all the industry. In modern life, more than 90% of electricity and heat is obtained by Kazakhstan's economy by consuming non-renewable energy resources: different types of coal, oil shale, oil, natural gas and peat. Therefore, it is significant to ensure energy security, as the country faces a rapid fall back to mono-gas structure of fuel and energy balance. However, energy resources in Kazakhstan are spread very unevenly. Its main supplies are concentrated in northern and central parts of the republic, and the majority of consumers of electrical power live in the southern and western areas of the country. However, energy plays an important role in the economy of industrial production and to a large extent determines the level of competitive advantage, which is a promising condition for implementation of energy-saving and environmentally friendly technologies. In these circumstances, issues of modernisation and reforms of this sector in Kazakhstan gain more and more importance, which can be seen in the example of economically sustainable solutions of a large local monopoly company, significant savings in capital investment and efficiency of implementation of an investment project. A major disadvantage of development of electricity distribution companies is the prevalence of very high moral and physical amortisation of equipment, reaching almost 70-80%, which significantly increases the operating costs. For example, while an investment of 12 billion tenge was planned in 2009 in this branch, in 2012 it is planned to invest more than 17 billion. Obviously, despite the absolute increase, the rate of investment is still quite low, as the total demand in this area is at least more than 250 billion tenge. In addition, industrial infrastructure, including the objects of Kazakhstan electric power industry, have a tangible adverse impact on the environment. Thus, since there is a large number of various power projects that are sources of electromagnetic radiation, the environment is deteriorated. Hence, there is a need to optimise the efficiency of the organisation and management of production activities of energy companies, to create and implement new technologies, to ensure safe production and provide solutions to various environmental aspects. These are key strategic factors to ensure success of the modern energy sector of Kazakhstan. The contribution of authors in developing the scope of this subject is explained by the fact that there was not enough research in the energy sector, especially in the view of ecological modernisation. This work differs from similar works in Kazakhstan in the way that the proposed method of investment project calculation takes into account the time factor, which compares the current and future value of profit from the implementation of innovative equipment that helps to bring it to actual practise. The feasibility of writing this article lies in the need of forming a public policy in the industrial sector, including optimising the structure of energy disbursing rate, which complies with the terms of future modernised development of the domestic energy sector.

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Estimated flavonoid intakes according to socioeconomic status of Korean adults based on the Korea National Health and Nutrition Examination Survey 2007~2012 (우리나라 성인의 사회경제적 수준에 따른 플라보노이드 섭취현황 : 2007~2012년 국민건강영양조사 자료를 이용하여)

  • Kim, Seong-Ah;Hei, Yang;Jun, Shinyoung;Wie, Gyung-Ah;Shin, Sangah;Hong, Eunju;Joung, Hyojee
    • Journal of Nutrition and Health
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    • v.50 no.4
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    • pp.391-401
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    • 2017
  • Purpose: The purpose of this study was to estimate the dietary flavonoid intakes of Korean adults according to socioeconomic status. Methods: Using data from the 2007~2012 Korea National Health and Nutrition Examination Survey, a total of 31,112 subjects aged over 19 years were included in this study. We estimated individuals' daily intakes of total flavonoids and seven flavonoid subclasses, including flavonols, flavones, flavanones, flavan-3-ols, anthocyanins, proanthocyanidin, and isoflavones,by linking food consumption data with the flavonoids database for commonly consumed Korean foods. We compared intakes of flavonoids according to the levels of household income and education. Results: Average dietary flavonoid intakes of the study subjects were 321.8 mg/d in men and 308.3 mg/d in women. Daily flavonoid intakes were positively associated with household income level (p < 0.0001) and education level (p < 0.0001). The subjects in the highest household income and highest education level group (OR 0.37, 95% CI 0.30~0.45, p < 0.0001 in men, OR 0.50, 95% CI 0.41~0.60, p < 0.0001 in women) had a lower likelihood of having low total flavonoid intake (less than 25 percentile) compared to the lowest household income and lowest education level group. The food group that contributed to total flavonoid intake with the biggest difference between the lowest and highest groups for both household income level and education level was beverages. Conclusion: This study shows that socioeconomic status was positively associated with flavonoid intake in a representative Korean population. Further research is needed to analyze the association of flavonoid intake with health outcomes according to socioeconomic status such as household income and education level.

Analysis of Industrial Linkage Effects for Farm Land Base Development Project -With respect to the Hwangrak Benefited Area with Reservoir - (농업생산기반 정비사업의 산업연관효과분석 -황락 저수지지구를 중심으로-)

  • Lim, Jae Hwan;Han, Seok Ho
    • Korean Journal of Agricultural Science
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    • v.26 no.2
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    • pp.77-93
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    • 1999
  • This study is aiming at identifying the foreward and backward lingkage effects of the farm land base development project. Korean Government has continuously carried out farmland base development projets including the integrated agricultural development projects. large and medium scale irrigation projects and the comprehensive development of the four big river basin including tidal land reclamation and estuary dam construction for the all weather farming since 1962. the starting year of the five year economic development plans. Consequently the irrigation rate of paddy fields in Korea reached to 75% in 1998 and to escalate the irrigation rate, the Government had procured heavy investment fund from IBRD. IMF and OECF etc. To cope with the agricultural problems like trade liberalization in accordance with WTO policy, the government has tried to solve such problems as new farmland base development policy, preservation of the farmland and expansion of farmland to meet self-sufficiency of foods in the future. Especially, farmland base development projects have been challanged to environmental and ecological problems in evaluating economic benefits and costs where the value of non-market goods have not been included in those. Up to data, in evaluating benefits and costs of the projects, farmland base development projects have been confined to direct incremental value of farm products and it's related costs. Therefore the projects'efficiency as a decision making criteria has shown the low level of economic efficiencies. In estimating economic efficiencies including Leontiefs input-output analysis of the projects could not be founded in Korea at present. Accordingly this study is aimed at achieving and identifying the following objectives. (1) To identify the problems related to the financial supports of the Government in implementing the proposed projects. (2) To estimated backward and foreward linkage effects of the proposed project from the view point of national economy as a whole. To achieve the objectives, Hwangrak benefited area with reservoir which is located in Seosan-haemi Disticts, Chungnam Province were selected as a case study. The main results of the study are summarized as follows : a. The present value of investment and O & M cost were amounted to 3,510million won and the present value of the value added in related industries was estimated at 5.913million won for the period of economic life of 70 years. b. The total discounted value of farm products in the concerned industries derived by the project was estimated at 10,495million won and the foreward and backward linkage effects of the project were amounted to 6,760 and 5,126million won respectively. c. The total number of employment opportunities derived from the related industries for the period of project life were 3,136 man/year. d. Farmland base development projects were showed that the backward linkage effects estimated by index of the sensitivity dispersion were larger than the forward linkage effect estimated by index of the power of dispersion. On the other hand, the forward linkage effect of rice production value during project life was larger than the backward linkage effect e. The rate of creation of new job opportunity by means of implementing civil engineering works were shown high in itself rather than any other fields. and the linkage effects of production of the project investment were mainly derived from the metal and non-metal fields. f. According to the industrial linkage effect analysis, farmland base development projects were identified economically feasible from the view point of national economy as a whole even though the economic efficiencies of the project was outstandingly decreased owing to delaying construction period and increasing project costs.

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A Study on the Economic Valuation of the Suncheon Bay Wetland according to the Logit Model (로짓모형에 따른 순천만습지의 경제적 가치평가)

  • Lee, Jeong;Kim, Sa-rang;Kweon, Dae-gon;Jung, Bom-bi;Song, Sung-hwan;Kim, Sun-hwa
    • Journal of the Korean Institute of Landscape Architecture
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    • v.45 no.6
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    • pp.10-27
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    • 2017
  • Recently, the importance of recognizing the natural environment and the need for its conservation are increasing due to rapid urbanization. Suncheon Bay, designated as Scenic Site No. 41 and one of the World's Five Greatest Coastal Wetlands, is the only tideland among the tidal flats in Korea, which has salt marsh reserves. It has high conservation value from the ecological aspect. In addition to the Suncheon Bay National Garden, it provides various benefits not only to visitors but to local residents as well in terms of economics, environmental issues, and history and cultural aspects. Two million tourists visit the site annually, which has constantly highlighted the limits of ecological capacity. The valuation of the Suncheon Bay wetland is more important for the sustainability of the Suncheon Bay wetland than for its value as a tourism resource for the activation of the local economy. This study used the Logit model, which is commonly used among probabilistic choice models, to evaluate the economic value of Suncheon Bay wetland with the contingent valuation method(CVM). Applying the conservation value of the Suncheon Bay wetland to the benefit of KRW 8,200 for 1 person and 1 day, the benefit from exploration is KRW 2,050, the management and conservation value is KRW 3,034, and the heritage value is KRW 3,116. The results of this study are that benefit from the annual exploration of Suncheon Bay wetland was KRW 44.3 in billion, the management and conservation value was KRW 6.55 in billion, and the heritage value was KRW 6.73 in billion. When converted to the number of paying visitors per year, the conservation value is about KRW 177.1 billion. This study was conducted to evaluate the use and conservation aspects of the economic value of Suncheon Bay wetland. Based on the latent value of the Suncheon Bay wetland, it provides basic data about the efficient management and policy establishment of Suncheon Bay wetland. The study is significant in that the ecological sustainability of the Suncheon bay wetland and the value of non-marketable were evaluated based on the recognition of 'benefit through exploration', 'management and conservation value' and 'value of heritage'. It can be used as policy decision data on the integrated collection of the admission fee of the Suncheon Bay wetland and Suncheon Bay National Garden.

A study on Perception and Response Strategy of Korean Ship Owners on Global Sulphur Cap 2020 (황산화물(SOx) 배출 저감 규제에 대한 국적선사의 인식과 대응 전략에 관한 연구)

  • Lee, Choong-Ho;Kim, Hyun-Jung;Park, keun-Sik
    • Journal of Korea Port Economic Association
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    • v.34 no.4
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    • pp.141-160
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    • 2018
  • In this paper, to analyze the perception and response strategy of Korean ship owners on Global Sulphur Cap 2020, examined the IMO environmental regulation status focusing on MARPOL Annex VI regulation about air pollution prevention, technological measures to reduce SOx emission, shipping industry and management status of Korean ship owners. First of all, the questionnaire was conducted for Korean ship owners after selecting the evaluation factors. The purpose of this study was to investigate the difference of the perception and response strategy of Korean ship owners by corporation size and main vessel type using frequency and cross analysis. It is confirmed that various researches on SOx emission reduction have been carried out from various points of view at home and abroad. In this study, existing studies related to technical factors for regulatory response and economics analysis were examined and evaluation factors were selected. As a result of analysis, it is found that large-sized shipping companies are more prepared for regulatory response than small and medium-sized bulk carrier owners. There were similar perception and the direction of response strategy about the impacts by corporation size and main vessel type. In about two years to be implemented in 2020, It is necessary to find an appropriate response strategy based on the support policy of the government and related organizations and the systematic analysis of the ship owners. Through this study, although the difference between the perception and response strategy of the ship owners by corporation size and main vessel type was understood, it was found that there were limitations on specific response strategy and corporate data collection. In future research, we should overcome the limitations of this study and conduct an in-depth study.

An Exploratory Study on the Industry/Market Characteristics of the 'Hyper-Growing Companies' and the Firm Strategies: A Focus on Firms with more than Annual Revenue of 100 Million dollars from 'Inc. the 5,000 Fastest-Growing Private Companies in America' (초고성장 기업의 산업/시장 특성과 전략 선택에 대한 탐색적 연구: 'Inc. the 5,000 Fastest-Growing Private Companies in America' 기업 중 연간 매출액 1억 달러 이상 기업을 중심으로)

  • Lee, Young-Dall;Oh, Soyoung
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.16 no.2
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    • pp.51-78
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    • 2021
  • Followed by 'start-up', the theme of 'scale-up' has been considered as an important agenda in both corporate and policy spheres. In particular, although it is a term commonly used in industry and policy fields, even a conceptual definition has not been achieved from the academic perspective. "Corporate Growth" in the academic aspect and "Business Growth" in the practical management field have different understandings (Achtenhagen et al., 2010). Previous research on corporate growth has not departed from Penrose(1959)'s "Firm as a bundle of resources" and "the role of managers". Based on the theory and background of economics, existing research has mainly examined factors that contribute to firms' growth and their growth patterns. Comparatively, we lack knowledge on the firms' growth with a focus on 'annual revenue growth rate'. In the early stage of the firms, they tend to exhibit a high growth rate as it started with a lower level of annual revenue. However, when the firms reach annual revenue of more than 100 billion KRW, a threshold to be classified as a 'middle-standing enterprise' by Korean standards, they are unlikely to reach a high level of revenue growth rate. In our study, we used our sample of 333 companies (6.7% out of 5,000 'fastest-growing' companies) which reached 15% of the compound annual growth rate in the last three years with more than USD 100 million. It shows that sustaining 'high-growth' above a certain firm size is difficult. The study focuses on firms with annual revenue of more than $100 billion (approximately 120 billion KRW) from the 'Inc. 2020 fast-growing companies 5,000' list. The companies have been categorized into 1) Fast-growing companies (revenue CAGR 15%~40% between 2016 and 2019), 2) Hyper-growing companies (40%~99.9%), and 3) Super-growing (100% or more) with in-depth analysis of each group's characteristics. Also, the relationship between the revenue growth rate, individual company's strategy choice (market orientation, generic strategy, growth strategy, pioneer strategy), industry/market environment, and firm age is investigated with a quantitative approach. Through conducting the study, it aims to provide a reference to the 'Hyper-Growing Model' that combines the paths and factors of growth strategies. For policymakers, our study intends to provide a reference to which factors or environmental variables should be considered for 'optimal effective combinations' to promote firms' growth.