• Smart Media Journal
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• v.11 no.10
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• pp.9-21
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• 2022

The recent expansion of the use of social media has served as an opportunity to express users' opinions in real time in various fields such as society, economy, politics, and culture, and brought many platforms that provide various information about companies. Among them, Glassdoor.com which started 2008 in US provides users with evaluations of the current and the former employees of their companies and also provides a outlooks for the company's growth Such a platform has the utility of providing necessary information to whom want to find a job or change jobs. In addition to this, variable studies have shown that the company information provided through these platforms is useful for investors as well. In this study, it was tested whether the corporate growth prospects of employees provided by Jobplanet, a platform with a typical function similar to Glassdoor.com in Korea, have predictive power to predict actual corporate growth. The forecast provided by Jobplanet and the company's financial indicator data received from FnGuide were collected and composed of panel data and analyzed using fixed effect model regression analysis. As a result, it was found that companies with positive prospects had higher employment growth than companies with negative prospects. When the outlook was neutral, the employment growth rate was higher than that of companies with a negative outlook.

• Journal of the Korean Geotechnical Society
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• v.24 no.2
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• pp.67-75
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• 2008

It is interesting to note that distinct element method has been used extensively to model the response of micro and discontinuous behavior in geomechanics. Impressive advances related to response of distinct particles have been conducted and there were difficulties in considering fluid effect simultaneously. Current distinct element methods are progressively developed to solve particle-fluid coupling focused on fluid flow through soil, rock or porous medium. In this research, numerical simulations of fluid injection into particulate materials were conducted to observe cavity initiation and propagation using distinct element method. After generation of initial particles and wall elements, confining stress was applied by servo-control method. The fluid scheme solves the continuity and Navior-Stokes equations numerically, then derives pressure and velocity vectors for fixed grid by considering the existence of particles within the fluid cell. Fluid was injected as 7-step into the assembly in the x-direction from the inlet located at the center of the left boundary under confining stress condition, $0.1MP{\alpha}\;and\;0.5MP{\alpha}$, respectively. For each simulation, movement of particles, flow rate, fluid velocity, pressure history, wall stress including cavity initiation and propagation by interaction of flulid-paricles were analyzed.

• Cartoon and Animation Studies
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• s.6
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• pp.152-171
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• 2002

This study analyses the avatar service, which is recognized as an alternative strategy of animation industry. The research questions of this study are following: (1) How have the avatar services been developed and what are the present dominant types? (2) Which structural characteristics of e-business environment are needed for the success of avatar services? (3) What is the economic characteristics of avatar business model? To solve these research questions, the basic conditions and the structural characteristics of avatar services have been investigated. In the first place, two forms of avatar service are classified. One is the internet service site whole primary service is to provide chatting service based on avatar service. The other is the portal site in which many kinds of products and services are presented as bundles to meet the needs of internet users. So avatar service is one of bundles which those portal sites are providing with. In this study, the big five internet service sites are selected based on the profits they earned through the sales of avatar service. The result of analysis is that the pricing strategy of those big five sites is very different from those of traditional off-line markets. The pricing mechanism are based on the value which internet users endow with the avatar items, not based on the costs of making the products. Avatar is the representative informative goods. The informative goods have the original cost structures, constant fixed costs and zero marginal costs, so the providers of avatar services make much of the subjective values of consumers. The sayclub, which is the most successful avatar service site and earn the average sales of 3 billing won a month, takes the aggressive strategy of pricing avatar items at highest price in the industry. The avatar service providers which make lots of profits are planning of making differentiate the services, introducing well-known brand items and star-named items. Nevertheless, the fact that the members of the sayclub are not decreasing means that the network effect of the site is so strongly manifest. Moreover, the costs the members have paid for the avatar items are so big not as to switch from one site to the other site, it can be very costly. These switching costs are endemic in high-technology industries and digital contents industries. It can be so large that switching suppliers is virtually unthinkable, a situation known as 'lock-in'. When switching costs are substantial, competition can be intense to attract new customers, since, one they are locked in, they can be a substantial source of profit. The consumers of avatar items have switching costs if they subscribe for the new avatar service site. The switching costs can be subscription costs as well as the costs of giving up the items they already paid for. One common example of switching costs involves specialized supplies, as with inkjet printer cartridges. In this example, the switching cost is the purchase of a new printer. The market is competitive ex ante, but since cartridges are incompatible, it is monopolized dx post. So the providers of printer/cartridges set pricing printer so cheap and cartridges expensive. On the contrary, since the avatar service can be successful with the strong network effect, the providers of avatar services have to compete aggressively for new customers. So they allow the subscription at a low price(almost marginal cost) in the early market. The network effect can be maximized when the members are sufficiently growing. The providers which have the monopoly power with sufficient subscribers. begin to raise the prices over the lifetime of the product and make profits.

• Korean Chemical Engineering Research
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• v.55 no.6
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• pp.837-845
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• 2017

A recirculating integrated system composed of a fluidized biofilter filled with waste-tire crumb media fixed with return sludge from wastewater treatment facility of D dyeing industrial center, and a UV/photocatalytic reactor packed with calcined $TiO_2$ coated-glass beads as photocatalyst-support, was constructed and was run to treat authentic textile-dyeing wastewater from D-dyeing industrial center, which was mixed with an alkaline polyester-weight-reducing wastewater and a wastewater from sizing process. As a result, its total removal efficiency(RE(tot)) of $COD_{cr}$ and colors were ca. 81% and 55%, respectively. The synergy effect of the recirculating integrated system to enhance total removal efficiency(RE(tot)) of $COD_{cr}$ and colors were evaluated at most ca. 7% and 3%, respectively. The fluidized biofilter and the UV/photocatalytic reactor were responsible for ca. 94% and 6% of the total $COD_{cr}$ removal efficiency, respectively, and were also responsible for ca. 86% and 14% of the total color-removal efficiency, respectively. Thus, the degree of the UV/photocatalytic reactor-unit process's contribution to RE(tot) of color, was about 2.4 times of that to RE(tot) of $COD_{cr}$. Therefore, the UV/photocatalytic reactor facilitated the more effective elimination of colors by breaking down the chemical bonds oriented from colors of dyes such as azo-bond, than $COD_{cr}$. In addition, the effect of the removal efficiency of each unit process(i.e., the fluidized biofilter or the UV/photocatalytic reactor) of the recirculating integrated system on RE(tot) of $COD_{cr}$ and colors, was analysed by establishing its model equation with an analytic correlation.

• Progress in Medical Physics
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• v.15 no.4
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• pp.202-209
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• 2004

Flat panel based digital radiography (DR) systems have recently become useful and important in the field of diagnostic radiology. For DRs with amorphous silicon photosensors, CsI(TI) is normally used as the scintillator, which produces visible light corresponding to the absorbed radiation energy. The visible light photons are converted into electric signal in the amorphous silicon photodiodes which constitute a two dimensional array. In order to produce good quality images, detailed behaviors of DR detectors to radiation must be studied. The relationship between air exposure and the DR outputs has been investigated in many studies. But this relationship was investigated under the condition of the fixed tube voltage. In this study, we investigated the relationship between the DR outputs and X-ray in terms of the absorbed energy in the detector rather than the air exposure using SPEC-l8, an X-ray energy spectrum model. Measured exposure was compared with calculated exposure for obtaining the inherent filtration that is a important input variable of SPEC-l8. The absorbed energy in the detector was calculated using algorithm of calculating the absorbed energy in the material and pixel values of real images under various conditions was obtained. The characteristic curve was obtained using the relationship of two parameter and the results were verified using phantoms made of water and aluminum. The pixel values of the phantom image were estimated and compared with the characteristic curve under various conditions. It was found that the relationship between the DR outputs and the absorbed energy in the detector was almost linear. In a experiment using the phantoms, the estimated pixel values agreed with the characteristic curve, although the effect of scattered photons introduced some errors. However, effect of a scattered X-ray must be studied because it was not included in the calculation algorithm. The result of this study can provide useful information about a pre-processing of digital radiography.

• Journal of Korean Society of Transportation
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• v.29 no.5
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• pp.121-138
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• 2011

More affordable and available cutting-edge technologies (e.g., wireless vehicle communication) are regarded as a possible alternative to the fixed infrastructure-based traffic information system requiring the expensive infrastructure investments and mostly implemented in the uninterrupted freeway network with limited spatial system expansion. This paper develops an advanced decentralized traveler information System (ATIS) using vehicle-to-vehicle (V2V) communication system whose performance (drivers' travel time savings) are enhanced by three complementary functions (autonomous automatic incident detection algorithm, reliable sample size function, and driver behavior model) and evaluates it in the typical $6{\times}6$ urban grid network with non-recurrent traffic state (traffic incident) with the varying key parameters (traffic flow, communication radio range, and penetration ratio), employing the off-the-shelf microscopic simulation model (VISSIM) under the ideal vehicle communication environment. Simulation outputs indicate that as the three key parameters are increased more participating vehicles are involved for traffic data propagation in the less communication groups at the faster data dissemination speed. Also, participating vehicles saved their travel time by dynamically updating the up-to-date traffic states and searching for the new route. Focusing on the travel time difference of (instant) re-routing vehicles, lower traffic flow cases saved more time than higher traffic flow ones. This is because a relatively small number of vehicles in 300vph case re-route during the most system-efficient time period (the early time of the traffic incident) but more vehicles in 514vph case re-route during less system-efficient time period, even after the incident is resolved. Also, normally re-routings on the network-entering links saved more travel time than any other places inside the network except the case where the direct effect of traffic incident triggers vehicle re-routings during the effective incident time period and the location and direction of the incident link determines the spatial distribution of re-routing vehicles.

• Journal of the Mineralogical Society of Korea
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• v.32 no.1
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• pp.41-49
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• 2019

Probing the Na environments in Na silicate and aluminosilicate glasses is essential to the macroscopic properties of melts in the Earth. In particular, exploring the atomic structure of Na silicate and aluminosilicate glasses reveals Na-O distance, which plays an important role in transport properties of melts. Here we report the local environment around Na using $^{23}Na$ magic angle spinning (MAS) NMR. We also obtain $^{23}Na$ isotropic chemical shift (${\delta}_{iso}$) of Na silicate and aluminosilicate glasses with varying composition using Dmfit program. The Q mas 1/2 model simulates the experimental results with three simulated peaks while the CzSimple model simulates with one peak. The ${\delta}_{iso}$ decreases with increasing $SiO_2$ content in Na silicate and aluminosilicate glasses. The ${\delta}_{iso}$ increases with increasing $Na_2O$ content in Na-Ca silicate and Na aluminosilicate glasses when the $SiO_2$ content is fixed. Considering the ${\delta}_{iso}$ of Na aluminosilicate glasses available in the previous studies, together with the current simulation results, we confirm that the ${\delta}_{iso}$ has positive correlation with Al / (Al + Si). Those experimental results were reproduced better using Q mas 1/2 model. The disorder of Na in Na silicate and aluminosilicate glasses can be revealed through the simulation of 1D $^{23}Na$ MAS NMR spectra using Dmfit program in a short time.

• KDI Journal of Economic Policy
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• v.12 no.2
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• pp.3-49
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• 1990

This paper analyzes U.S. demand for imports from Asian NIEs and Japan, utilizing the Almost Ideal Demand System (AIDS) developed by Deaton and Muellbauer, with an emphasis on the effect of changes in the exchange rate. The empirical model assumes a two-stage budgeting process in which the first stage represents the allocation of total U.S. demand among three groups: the Asian NIEs and Japan, six Western developed countries, and the U.S. domestic non-tradables and import competing sector. The second stage represents the allocation of total U.S. imports from the Asian NIEs and Japan among them, by country. According to the AIDS model, the share equation for the Asia NIEs and Japan in U.S. nominal GNP is estimated as a single equation for the first stage. The share equations for those five countries in total U.S. imports are estimated as a system with the general demand restrictions of homogeneity, symmetry and adding-up, together with polynomially distributed lag restrictions. The negativity condition is also satisfied for all cases. The overall results of these complicated estimations, using quarterly data from the first quarter of 1972 to the fourth quarter of 1989, are quite promising in terms of the significance of individual estimators and other statistics. The conclusions drawn from the estimation results and the derived demand elasticities can be summarized as follows: First, the exports of each Asian NIE to the U.S. are competitive with (substitutes for) Japan's exports, while complementary to the exports of fellow NIEs, with the exception of the competitive relation between Hong Kong and Singapore. Second, the exports of each Asian NIE and of Japan to the U.S. are competitive with those of Western developed countries' to the U.S, while they are complementary to the U.S.' non-tradables and import-competing sector. Third, as far as both the first and second stages of budgeting are coneidered, the imports from each Asian NIE and Japan are luxuries in total U.S. consumption. However, when only the second budgeting stage is considered, the imports from Japan and Singapore are luxuries in U.S. imports from the NIEs and Japan, while those of Korea, Taiwan and Hong Kong are necessities. Fourth, the above results may be evidenced more concretely in their implied exchange rate effects. It appears that, in general, a change in the yen-dollar exchange rate will have at least as great an impact, on an NIE's share and volume of exports to the U.S. though in the opposite direction, as a change in the exchange rate of the NIE's own currency $vis-{\grave{a}}-vis$ the dollar. Asian NIEs, therefore, should counteract yen-dollar movements in order to stabilize their exports to the U.S.. More specifically, Korea should depreciate the value of the won relative to the dollar by approximately the same proportion as the depreciation rate of the yen $vis-{\grave{a}}-vis$ the dollar, in order to maintain the volume of Korean exports to the U.S.. In the worst case scenario, Korea should devalue the won by three times the maguitude of the yen's depreciation rate, in order to keep market share in the aforementioned five countries' total exports to the U.S.. Finally, this study provides additional information which may support empirical findings on the competitive relations among the Asian NIEs and Japan. The correlation matrices among the strutures of those five countries' exports to the U.S.. during the 1970s and 1980s were estimated, with the export structure constructed as the shares of each of the 29 industrial sectors' exports as defined by the 3 digit KSIC in total exports to the U.S. from each individual country. In general, the correlation between each of the four Asian NIEs and Japan, and that between Hong Kong and Singapore, are all far below .5, while the ones among the Asian NIEs themselves (except for the one between Hong Kong and Singapore) all greatly exceed .5. If there exists a tendency on the part of the U.S. to import goods in each specific sector from different countries in a relatively constant proportion, the export structures of those countries will probably exhibit a high correlation. To take this hypothesis to the extreme, if the U.S. maintained an absolutely fixed ratio between its imports from any two countries for each of the 29 sectors, the correlation between the export structures of these two countries would be perfect. Therefore, since any two goods purchased in a fixed proportion could be classified as close complements, a high correlation between export structures will imply a complementary relationship between them. Conversely, low correlation would imply a competitive relationship. According to this interpretation, the pattern formed by the correlation coefficients among the five countries' export structures to the U.S. are consistent with the empirical findings of the regression analysis.

• Korean small business review
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• v.31 no.4
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• pp.67-93
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• 2009

The purpose of this paper is to explore the relations between financial constraints and dividend smoothing of innovative small and medium sized enterprises(SMEs) listed on Korea Securities Market and Kosdaq Market of Korea Exchange. The innovative SMEs is defined as the firms with high level of R&D intensity which is measured by (R&D investment/total sales) ratio, according to Chauvin and Hirschey (1993). The R&D investment plays an important role as the innovative driver that can increase the future growth opportunity and profitability of the firms. Therefore, the R&D investment have large, positive, and consistent influences on the market value of the firm. In this point of view, we expect that the innovative SMEs can adjust dividend payment faster than the noninnovative SMEs, on the ground of their future growth opportunity and profitability. And also, we expect that the financial unconstrained firms can adjust dividend payment faster than the financial constrained firms, on the ground of their financing ability of investment funds through the market accessibility. Aivazian et al.(2006) exert that the financial unconstrained firms with the high accessibility to capital market can adjust dividend payment faster than the financial constrained firms. We collect the sample firms among the total SMEs listed on Korea Securities Market and Kosdaq Market of Korea Exchange during the periods from January 1999 to December 2007 from the KIS Value Library database. The total number of firm-year observations of the total sample firms throughout the entire period is 5,544, the number of firm-year observations of the dividend firms is 2,919, and the number of firm-year observations of the non-dividend firms is 2,625. About 53%(or 2,919) of these total 5,544 observations involve firms that make a dividend payment. The dividend firms are divided into two groups according to the R&D intensity, such as the innovative SMEs with larger than median of R&D intensity and the noninnovative SMEs with smaller than median of R&D intensity. The number of firm-year observations of the innovative SMEs is 1,506, and the number of firm-year observations of the noninnovative SMEs is 1,413. Furthermore, the innovative SMEs are divided into two groups according to level of financial constraints, such as the financial unconstrained firms and the financial constrained firms. The number of firm-year observations of the former is 894, and the number of firm-year observations of the latter is 612. Although all available firm-year observations of the dividend firms are collected, deletions are made in the case of financial industries such as banks, securities company, insurance company, and other financial services company, because their capital structure and business style are widely different from the general manufacturing firms. The stock repurchase was involved in dividend payment because Grullon and Michaely (2002) examined the substitution hypothesis between dividends and stock repurchases. However, our data structure is an unbalanced panel data since there is no requirement that the firm-year observations data are all available for each firms during the entire periods from January 1999 to December 2007 from the KIS Value Library database. We firstly estimate the classic Lintner(1956) dividend adjustment model, where the decision to smooth dividend or to adopt a residual dividend policy depends on financial constraints measured by market accessibility. Lintner model indicates that firms maintain stable and long run target payout ratio, and that firms adjust partially the gap between current payout rato and target payout ratio each year. In the Lintner model, dependent variable is the current dividend per share(DPS_t), and independent variables are the past dividend per share(DPS_t-1) and the current earnings per share(EPS_t). We hypothesized that firms adjust partially the gap between the current dividend per share(DPS_t) and the target payout ratio(Ω) each year, when the past dividend per share(DPS_t-1) deviate from the target payout ratio(Ω). We secondly estimate the expansion model that extend the Lintner model by including the determinants suggested by the major theories of dividend, namely, residual dividend theory, dividend signaling theory, agency theory, catering theory, and transactions cost theory. In the expansion model, dependent variable is the current dividend per share(DPS_t), explanatory variables are the past dividend per share(DPS_t-1) and the current earnings per share(EPS_t), and control variables are the current capital expenditure ratio(CEA_t), the current leverage ratio(LEV_t), the current operating return on assets(ROA_t), the current business risk(RISK_t), the current trading volume turnover ratio(TURN_t), and the current dividend premium(DPREM_t). In these control variables, CEA_t, LEV_t, and ROA_t are the determinants suggested by the residual dividend theory and the agency theory, ROA_t and RISK_t are the determinants suggested by the dividend signaling theory, TURN_t is the determinant suggested by the transactions cost theory, and DPREM_t is the determinant suggested by the catering theory. Furthermore, we thirdly estimate the Lintner model and the expansion model by using the panel data of the financial unconstrained firms and the financial constrained firms, that are divided into two groups according to level of financial constraints. We expect that the financial unconstrained firms can adjust dividend payment faster than the financial constrained firms, because the former can finance more easily the investment funds through the market accessibility than the latter. We analyzed descriptive statistics such as mean, standard deviation, and median to delete the outliers from the panel data, conducted one way analysis of variance to check up the industry-specfic effects, and conducted difference test of firms characteristic variables between innovative SMEs and noninnovative SMEs as well as difference test of firms characteristic variables between financial unconstrained firms and financial constrained firms. We also conducted the correlation analysis and the variance inflation factors analysis to detect any multicollinearity among the independent variables. Both of the correlation coefficients and the variance inflation factors are roughly low to the extent that may be ignored the multicollinearity among the independent variables. Furthermore, we estimate both of the Lintner model and the expansion model using the panel regression analysis. We firstly test the time-specific effects and the firm-specific effects may be involved in our panel data through the Lagrange multiplier test that was proposed by Breusch and Pagan(1980), and secondly conduct Hausman test to prove that fixed effect model is fitter with our panel data than the random effect model. The main results of this study can be summarized as follows. The determinants suggested by the major theories of dividend, namely, residual dividend theory, dividend signaling theory, agency theory, catering theory, and transactions cost theory explain significantly the dividend policy of the innovative SMEs. Lintner model indicates that firms maintain stable and long run target payout ratio, and that firms adjust partially the gap between the current payout ratio and the target payout ratio each year. In the core variables of Lintner model, the past dividend per share has more effects to dividend smoothing than the current earnings per share. These results suggest that the innovative SMEs maintain stable and long run dividend policy which sustains the past dividend per share level without corporate special reasons. The main results show that dividend adjustment speed of the innovative SMEs is faster than that of the noninnovative SMEs. This means that the innovative SMEs with high level of R&D intensity can adjust dividend payment faster than the noninnovative SMEs, on the ground of their future growth opportunity and profitability. The other main results show that dividend adjustment speed of the financial unconstrained SMEs is faster than that of the financial constrained SMEs. This means that the financial unconstrained firms with high accessibility to capital market can adjust dividend payment faster than the financial constrained firms, on the ground of their financing ability of investment funds through the market accessibility. Futhermore, the other additional results show that dividend adjustment speed of the innovative SMEs classified by the Small and Medium Business Administration is faster than that of the unclassified SMEs. They are linked with various financial policies and services such as credit guaranteed service, policy fund for SMEs, venture investment fund, insurance program, and so on. In conclusion, the past dividend per share and the current earnings per share suggested by the Lintner model explain mainly dividend adjustment speed of the innovative SMEs, and also the financial constraints explain partially. Therefore, if managers can properly understand of the relations between financial constraints and dividend smoothing of innovative SMEs, they can maintain stable and long run dividend policy of the innovative SMEs through dividend smoothing. These are encouraging results for Korea government, that is, the Small and Medium Business Administration as it has implemented many policies to commit to the innovative SMEs. This paper may have a few limitations because it may be only early study about the relations between financial constraints and dividend smoothing of the innovative SMEs. Specifically, this paper may not adequately capture all of the subtle features of the innovative SMEs and the financial unconstrained SMEs. Therefore, we think that it is necessary to expand sample firms and control variables, and use more elaborate analysis methods in the future studies.

• Proceedings of the Korea Society of Poultry Science Conference
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• 2004.11a
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• pp.80-90
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• 2004

Three experiments were performed to test the assumption that imbalanced dietary amino acid mixtures must lead to increased heat production (HP). The first experiment was based on diets formulated to have a wide range of crude protein (CP) concentrations but a fixed concentration of lysine, formulated to be the first-limiting amino acid. In the second (converse) experiment, lysine concentration was varied over a wide range while CP content was kept constant. To prevent the masking of dietary effects by thermoregulatory demands, the third experiment was performed at 30 $^{\circ}C$ with the diets similar to the diets used in the second experiment. The detailed relationships among amino acid balance, nitrogen (N) metabolism and energy (E) metabolism were investigated in a computer-controlled chamber calorimetry system. The results of experiments were compared with the predictions of a computerised simulation model of E metabolism. In experiment 1. with constant lysine and varying CP, there was a 75 % increase in N intake as CP concentration increased. This led to a 150 % increase in N excretion. with no significant change in HP. Simulated HP agreed with the empirically determined results in not showing a trend with dietary CP. In experiment 2, with varying lysine but constant CP, there was a 3-fold difference in daily weight gain between the lowest and highest lysine diets. HP per bird increased significantly with dietary lysine concentration. There was still an effect when HP was adjusted for body weight differences, but it failed to maintain statistical significance. Simulated HP results agreed in showing little effect of varying lysine concentration and growth rate on HP. Based on the results of these two experiments, the third experiment was designed to test the response of birds to dietary lysine in high ambient temperature. In experiment 3 which performed at high ambient temperature (30 $^{\circ}C$), HP per bird increased significantly with dietary lysine content, whether or not adjusted for body-weight. The trend was greater than in the previous experiment (20 $^{\circ}C$).