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Why A Multimedia Approach to English Education\ulcorner

  • Keem, Sung-uk
    • Proceedings of the KSPS conference
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    • 1997.07a
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    • pp.176-178
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    • 1997
  • To make a long story short I made up my mind to experiment with a multimedia approach to my classroom presentations two years ago because my ways of giving instructions bored the pants off me as well as my students. My favorite ways used to be sometimes referred to as classical or traditional ones, heavily dependent on the three elements: teacher's mouth, books, and chalk. Some call it the 'MBC method'. To top it off, I tried audio-visuals such as tape recorders, cassette players, VTR, pictures, and you name it, that could help improve my teaching method. And yet I have been unhappy about the results by a trial and error approach. I was determined to look for a better way that would ensure my satisfaction in the first place. What really turned me on was a multimedia CD ROM title, ELLIS (English Language Learning Instructional Systems) developed by Dr. Frank Otto. This is an integrated system of learning English based on advanced computer technology. Inspired by the utility and potential of such a multimedia system for regular classroom or lab instructions, I designed a simple but practical multimedia language learning laboratory in 1994 for the first time in Korea(perhaps for the first time in the world). It was high time that the conventional type of language laboratory(audio-passive) at Hahnnam be replaced because of wear and tear. Prior to this development, in 1991, I put a first CALL(Computer Assisted Language Learning) laboratory equipped with 35 personal computers(286), where students were encouraged to practise English typing, word processing and study English grammar, English vocabulary, and English composition. The first multimedia language learning laboratory was composed of 1) a multimedia personal computer(486DX2 then, now 586), 2) VGA multipliers that enable simultaneous viewing of the screen at control of the instructor, 3) an amplifIer, 4) loud speakers, 5)student monitors, 6) student tables to seat three students(a monitor for two students is more realistic, though), 7) student chairs, 8) an instructor table, and 9) cables. It was augmented later with an Internet hookup. The beauty of this type of multimedia language learning laboratory is the economy of furnishing and maintaining it. There is no need of darkening the facilities, which is a must when an LCD/beam projector is preferred in the laboratory. It is headset free, which proved to make students exasperated when worn more than- twenty minutes. In the previous semester I taught three different subjects: Freshman English Lab, English Phonetics, and Listening Comprehension Intermediate. I used CD ROM titles like ELLIS, Master Pronunciation, English Tripple Play Plus, English Arcade, Living Books, Q-Steps, English Discoveries, Compton's Encyclopedia. On the other hand, I managed to put all teaching materials into PowerPoint, where letters, photo, graphic, animation, audio, and video files are orderly stored in terms of slides. It takes time for me to prepare my teaching materials via PowerPoint, but it is a wonderful tool for the sake of presentations. And it is worth trying as long as I can entertain my students in such a way. Once everything is put into the computer, I feel relaxed and a bit excited watching my students enjoy my presentations. It appears to be great fun for students because they have never experienced this type of instruction. This is how I freed myself from having to manipulate a cassette tape player, VTR, and write on the board. The student monitors in front of them seem to help them concentrate on what they see, combined with what they hear. All I have to do is to simply click a mouse to give presentations and explanations, when necessary. I use a remote mouse, which prevents me from sitting at the instructor table. Instead, I can walk around in the room and enjoy freer interactions with students. Using this instrument, I can also have my students participate in the presentation. In particular, I invite my students to manipulate the computer using the remote mouse from the student's seat not from the instructor's seat. Every student appears to be fascinated with my multimedia approach to English teaching because of its unique nature as a new teaching tool as we face the 21st century. They all agree that the multimedia way is an interesting and fascinating way of learning to satisfy their needs. Above all, it helps lighten their drudgery in the classroom. They feel other subjects taught by other teachers should be treated in the same fashion. A multimedia approach to education is impossible without the advent of hi-tech computers, of which multi functions are integrated into a unified system, i.e., a personal computer. If you have computer-phobia, make quick friends with it; the sooner, the better. It can be a wonderful assistant to you. It is the Internet that I pay close attention to in conjunction with the multimedia approach to English education. Via e-mail system, I encourage my students to write to me in English. I encourage them to enjoy chatting with people all over the world. I also encourage them to visit the sites where they offer study courses in English conversation, vocabulary, idiomatic expressions, reading, and writing. I help them search any subject they want to via World Wide Web. Some day in the near future it will be the hub of learning for everybody. It will eventually free students from books, teachers, libraries, classrooms, and boredom. I will keep exploring better ways to give satisfying instructions to my students who deserve my entertainment.

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The Analysis of the Influential Factors on Design Trends and Color Trends in the Late 20th Century (20세기 후반 디자인 트렌드의 형성요인과 색채 트렌드 분석)

  • Kim, Hyun-Kyung;Kim, Young-In
    • Archives of design research
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    • v.20 no.1 s.69
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    • pp.5-20
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    • 2007
  • The aim of this research is to find out the flows of mega-trends and design trends by analyzing the factors that influence trend and design trends in the late 20th century. Moreover, it is to forecast and recommend design color trends by evaluating color trends in design trends for the near future. Secondary and primary research were used in parallel. In the late 20th century, mega-trends were analyzed from secondary research based on PEST. Design trends were analyzed from case studies in fashion, space, product and visual design. On this basis, design color trends were analyzed. Also, color trends were forecast for the near future. The results are as follows. Firstly, the main trends in the late 20th century were 'female thinking', 'back to the nature' and 'heaven of peace'. Second, main design trends in the 1970s were modernism, post-modernism and high-tech. In the 1980s, with those of the 1970s, ecology was introduced In the late 1980s. In the 1990s, modernism rose again and ecology had an influence. The trends of 'female thinking' and 'back to the nature' controled the design in the early 2000s. Third, design colors in the late 20th century changed from Red to Purple Blue. Tones changed from 'grayish' to 'dull' Finally, it was forecast that Purple Blue, Yellow Red and Green colors with 'grayish', 'dull' and 'deep' tones were going to be used mainly in the near future. Also, achromatic colors with female and warm nuances would be reflected in design parts. This research will be very useful in that it has built a concrete database reflected on design trends forecasting in the near future by organizing academically a methodology to identify trends reflected on design and identifying relation between mega-trends and design trends based on analyzing factors that influence trend.

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Effect of N-Acetylcysteine on the Supetoxide Release, Chemotaxis from the Neutrophils and Glutathione Level of Plasma and Neutrophils (N-Acetylcysteine이 호중구의 Superoxide, Chemotaxis 및 혈장과 호중구의 Glutathione에 미치는 영향)

  • Song, Jeong-Sup;Lee, Sook-Young;Moon, Hwa-Sik;Park, Sung-Hak
    • Tuberculosis and Respiratory Diseases
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    • v.41 no.5
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    • pp.475-483
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    • 1994
  • Background: N-acetylcysteine(ACE) is used both orally and intravenously in a variety of experimental pathologies resembling human disease states which exhibit endothelial toxicity as a result of oxidative stress, including acute pulmonary oxygen toxicity, septicemia and endotoxin shock. Despite these observations in vivo, it is not certain how this thiol drug produces its protective effects. ACE is a cysteine derivative which is able to direct1y react with oxygen radicals and may also act as a cysteine and glutathione(GSH) precursor following deacetylation. In this paper, we tried to know whether the therapeutic doses of ACE can modify the inflammatory function of the neutrophils and can increase the glutathione level of plasma in chronic obstructive pulmonary disease(COPD) patients. In addition, the effect of ACE to the purified neutrophil in terms of superoxide release and glutathione synthesis were observed. Method: Firstly, we gave 600mg of ACE for seven days and compare the release of superoxide, luminol-enhanced chemiluminescence from the neutrophils, neutrophil chemotaxis, and plasma GSH levels before and after ACE treatment in COPD patients. Secondly, we observed the dose dependent effect of ACE to the purified neutrophil's superoxide release and GSH levels in vitro. Results: 1) Usual oral therapeutic doses(600mg per day) of ACE for seven days did affect neither on the neutrophil's superoxide release, chemiluminescence, chemotaxis, nor on the plasma GSH concentration in the COPD patients. 2) ACE decreases the purified neutrophil's superoxide release and increase the GSH production in dose dependent fashion in vitro. Conclusion: Despite the fact that oral ACE treatment did not affect on the neutrophil's inflammatory function and plasma GSH concentration in COPD patients in usual therapeutic doses, it decreases the superoxide release and increases the GSH production from the isolated neutrophils in high molar concentrations. These findings suggest that to obtain an antioxidative effects of ACE, it might be needed to increase the daily dosage of ACE or therapeutic duration or change the route of adminisration in COPD patients.

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The Role of Heme Oxygenase-1 in Lung Cancer Cells (폐암세포주에서 Heme Oxygenase-1의 역할)

  • Jung, Jong-Hoon;Kim, Hak-Ryul;Kim, Eun-Jung;Hwang, Ki-Eun;Kim, So-Young;Park, Jung-Hyun;Kim, Hwi-Jung;Yang, Sei-Hoon;Jeong, Eun-Taek
    • Tuberculosis and Respiratory Diseases
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    • v.60 no.3
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    • pp.304-313
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    • 2006
  • Background : Heme oxygenase-1 (HO-1) is an inducible enzyme that catalyzes the oxidative degradation of heme to form biliverdin, carbon monoxide (CO), and free iron. The current evidence has indicated a critical role of HO-1 in cytoprotection and also in other, more diverse biological functions. It is known that the high expression of HO-1 occurs in various tumors, and that HO-1 has an important role in rapid tumor growth because of its antioxidative and antiapoptotic effects. Therefore, the role of HO-1 was analyzed in human lung cancer cell lines, and especially in the A549 cell line. Material and Methods : Human lung cancer cell lines, i.e., A549, NCI-H23, NCI-H157 and NCI-H460, were used for this study. The expression of HO-1 in the untreated state was defined by Western blotting. ZnPP, which is the specific HO inhibitor we used, and the viability of cells were tested for by conducting MTT assaysy. The HO enzymatic activity, as determined via the bilirubin level, was also indirectly measured. Moreover, the generation of intracellular hydrogen peroxide (H2O2) was monitored fluorimetrically with using a scopoletin-horse radish peroxidase (HRP) assay and 2',7'-dichlorofluorescein diacetate (DCFH-DA). We have also transfected small HO-1 interfering RNA (siRNA) into A549 cells, and the apoptotic effects were evaluated by flow cytometric analysis and Western blotting. Results : The A549 cells had a greater expression of HO-1 than the other cell lines, whereas ZnPP significantly decreased the viability of the A549 cells more than the viability of the other lung cancer cells in a dose-dependant fashion. Consistent with the viability, the HO enzymatic activity also was decreased. Moreover, intracellular H2O2 generation via ZnPP was induced in a dose-dependent manner. Apoptotic events were, then induced in the HO-1 siRNA transfected A549 cells. Conclusion : HO-1 provides new important insights into the possible molecular mechanism of the antitumor therapy in lung cancer.

Clothing Purchase Behavior of Adolescents by the Consumer Awareness (청소년의 소비자 의식과 의복구매행동)

  • 김종희;조현주
    • Journal of Korean Home Economics Education Association
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    • v.15 no.2
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    • pp.67-78
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    • 2003
  • To investigate the consumer awareness and clothing purchase behavior of adolescents, questionnaire was administered to 639 middle and high school students in Daegu. The results were as follows. 1. The consumer awareness of adolescents was analyzed to 4 factors. consciousness of right. consumer information, brand-orientedness and responsibility. Respondents were clustered into three groups : utility-oriented group, brand-oriented group, and consumerism-oriented group. 2. Respondents bought their clothes at specialty stores primarily. They used ´products´, ´family's or friends advices´, and ´purchase experiences´ as information sources. The important criteria for selecting clothes were ´design´, ´price´, and ´suitability´ for oneself. Dissatisfactions after purchasing clothes were with ´price´, ´service´, ´sewing´, and ´size´. The complaining behaviors which respondents did mainly were ´telling friends about dissatisfaction with their purchased clothes´, ´asking for change dissatisfying products or asking for refund´ and ´asking for mending´. 3. Information sources were categorized into 3 factors: ´neutral information source´, ´personal information source´ and ´commercial information source´. Criteria for selecting clothes were factor-analyzed into ´harmony´, ´fashion´ and ´management of clothes´. ´The factors of dissatisfactions with purchased clothes were ´appearance´, ´quality´ and ´service´. 4. The differences by the consumer awareness in clothing purchase behaviors among consumer groups : In information sources. criteria for selecting clothes, complaining behaviors. purchasing places. three consumer groups were different significantly.

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The Effect of Inhibition of Heme Oxygenase-1 on Chemosensitivity of Cisplatin in Lung Cancer Cells (폐암세포주에서 Heme Oxygenase-1의 억제가 Cisplatin의 항암제 감수성에 미치는 영향)

  • Kim, So-Young;Kim, Eun-Jung;Jang, Hye-Yeon;Hwang, Ki-Eun;Park, Jung-Hyun;Kim, Hwi-Jung;Jo, Hyang-Jeong;Yang, Sei-Hoon;Jeong, Eun-Taik;Kim, Hak-Ryul
    • Tuberculosis and Respiratory Diseases
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    • v.62 no.1
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    • pp.33-42
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    • 2007
  • Background: Heme oxygenase-1 (HO-1) is known to modulates the cellular functions, including cell proliferation and apoptosis. It is known that a high level of HO-1 expression is found in many tumors, and HO-1 plays an important role in rapid tumor growth on account of its antioxidant and antiapoptotic effects. Cisplatin is a widely used anti-cancer agent for the treatment of lung cancer. However, the development of resistance to cisplatin is a major obstacle to its use in clinical treatment. We previously demonstrated that inhibiting HO-1 expression through the transcriptional activation of Nrf2 induces apoptosis in A549 cells. The aim of this study was to determine of the inhibiting HO-1 enhance the chemosensitivity of A549 cells to cisplatin. Materials and Methods: The human lung cancer cell line, A549, was treated cisplatin, and the cell viability was measured by a MTT assay. The change in HO-1, Nrf2, and MAPK expression after the cisplatin treatment was examined by Western blotting. HO-1 inhibition was suppressed by ZnPP, which is a specific pharmacologic inhibitor of HO activity, and small interfering RNA (siRNA). Flow cytometry analysis and Western blot were performed in to determine the level of apoptosis. The level of hydrogen peroxide ($H_2O_2$) generation was monitored fluoimetrically using 2',7'-dichlorofluorescein diacetate. Results: The A549 cells showed more resistance to the cisplatin treatment than the other cell lines examined, whereas cisplatin increased the expression of HO-1 and Nrf2, as well as the phosphorylation of MAPK in a time-dependent fashion. Inhibitors of the MAPK pathway blocked the induction of HO-1 and Nrf2 by the cisplatin treatment in A549 cells. In addition, the cisplatin-treated A549 cells transfected with dither the HO-1 small interfering RNA (siRNA) or ZnPP, specific HO-1 inhibitor, showed in a more significantly decrease in viability than the cisplatin-only-treated group. The combination treatment of ZnPP and cisplatin caused in a marked increase in the ROS generation and a decrease in the HO-1 expression. Conclusion: Cisplatin increases the expression of HO-1, probably through the MAPK-Nrf2 pathway, and the inhibition of HO-1 enhances the chemosensitivity of A549 cells to cisplatin.

Ethnosientific Approach of Health Practice in Korea (한국인의 건강관행에 대한 민속과학적 접근)

  • 김귀분;최연희
    • Journal of Korean Academy of Nursing
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    • v.21 no.3
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    • pp.396-417
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    • 1991
  • In order that nursing care an essential quality of nursing practice be acceptable and satisfying, it is necessary that client's culture be respected and that nursing practice be appropriate to that culture. Since cultural elements are an important influence on health practices and life patterns related to medical treatment, recovery from and prevention of disease, nurses need to have an understanding and knowledge of social and cultural phenomena to aid in the planning of nursing interventions. To understand the health practices surrounding health and illness, the health beliefs and practices of both folk and professional healing systems should be ascertained. Cultural data are required to provide care of high quality to clients and to reduce possible conflict between the client and the nurse. It is nursing's goal to provide clients from various cultures with quality nursing care which is satisfying and valuable. The problem addressed by this study was to identify Korean health practices which would contribute to the planning of professional caring practice with the culture : ultimately this study was intended to make a contribution to the development of the science of nursing. The concrete objectives of this study were ; 1) to identify Korean health practices, 2) to interpret the identitial health practices through traditional cultural thought, and 3) to compare the Korean health practices with those of other cultures. The investigator used the ethnosceintific approach outlined by spradly in a qualitative study. To discover ancestral wisdom and knowledge related to traditional health practeces, the subjects of this study were selected from residents of a small rural mountain village in south west Korea, a place considered to be maintaining and transmitting the traditional culture in a relatively well -preserved state because of being isolated from the modern world. The number of subjects was 18, aged 71 to 89. Research data were collected from January 8 to March 31, 1990. Five categories of health practices were identified : “Manage one's own mind”, “Moderation in all thing”, “Live in accord with nature”, “Live in mutuality with others”, and “Live to the best of one's ability”. Values derived from these ways of thinking from Confucianism, Taoism and Buddhism help fashion a traditional way of life, examplified by the saying “Benifience to all”. Korean thought and philosophy is influenced primerily by Confucianism, Confucian principles of ethics, embedded deeply in the peoples' minds, form the idea that “heaven and human being are intimately united” based on concept that “heaven is, so to speak, reason”. Twoe Gae's theory of existential subjectivity develops the concept of self which is the basis of the spirit of reverence in modern Confucian philosophy. The human md is granted from heaven out of the idea of matter, and what control the mind is the spirit of reverence. Hence the idea of “The primacy of the mind" and provided that one should control one's own mind. The precepts of duty to parents, respect for elders and worship of ancestors, and moderation in all behavior put a restraint on life which directed that one live earnestly according to Nature's laws with their neighbors. Not only Confucianism, but also Buddism and Taoism have had an important effect upon these patterns of ideas. When compared with western culture, Korean health practices tend to be more inclusive, abstract and intuitive while westerner health practices found to be mere concrete, practical and personal. Values and beliefs based and pragmatism and existentialism infuence western civilization, Ethical values may be founded on utilitarianism, which considers what is good for the persons in their circumstances as the basis of conduct and takes a serious view of their practical lives including human aspirations rather than an absolute truth. These philosophical and ethical ideas are foundations for health practices related to active, practical and progressive attitudes. This study should be enable nursing not only to understand clients as reflections of the traditional culture when planning nursing practice, but to dovelop health education corresponding to cultural requiments for the purpose of protection against disease and improvement of health, and thus promote sound health practice. Eventually it is hoped that through these processes quality nursing care as the central idea of the science of nursing will be achieved.

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Assessment on Accuracy of Stereotactic Body Radiation therapy (SBRT) using VERO (VERO system을 이용한 정위적 체부 방사선치료(SBRT)의 정확성 평가)

  • Lee, Wi Yong;Kim, Hyun Jin;Yun, Na Ri;Hong, Hyo Ji;Kim, Hong Il;Baek, Seung Wan
    • The Journal of Korean Society for Radiation Therapy
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    • v.31 no.1
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    • pp.17-24
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    • 2019
  • Purpose: The present study aims to assess the level of coherency and the accuracy of Point dose of the Isocenter of VERO, a linear accelerator developed for the purpose of the Stereotactic Body Radiation Therapy(SBRT). Materials and Method: The study was conducted randomly with 10 treatment plans among SBRT patients in Kyungpook National University Chilgok Hospital, using VERO, a linear accelerator between June and December, 2018. In order to assess the equipment's power stability level, we measured the output constancy by using PTW-LinaCheck, an output detector. We also attempted to measure the level of accuracy of the equipment's Laser, kV(Kilo Voltage) imaging System, and MV(Mega Voltage) Beam by using Tofu Phantom(BrainLab, Germany) to assess the accuracy level of geometrical Isocenter. We conducted a comparative analysis to assess the accuracy level of the dose by using an acrylic Phantom($30{\times}30{\times}20cm$), a calibrated ion chamber CC-01(IBA Dosimetry), and an Electrometer(IBA, Dosimetry). Results: The output uniformity of VERO was calculated to be 0.66 %. As for geometrical Isocenter accuracy, we analyzed the error values of ball Isocenter of inner Phantom, and the results showed a maximum of 0.4 mm, a minimum of 0.0 mm, and an average of 0.28 mm on X-axis, and a maximum of -0.4 mm, a minimum of 0.0 mm, and an average of -0.24 mm on Y-axis. A comparison and evaluation of the treatment plan dose with the actual measured dose resulted in a maximum of 0.97 % and a minimum of 0.08 %. Conclusion: The equipment's average output dose was calculated to be 0.66 %, meeting the ${\pm}3%$ tolerance, which was considered as a much uniform fashion. As for the accuracy assessment of the geometric Isocenter, the results met the recommended criteria of ${\pm}1mm$ tolerance, affirming a high level of reproducibility of the patient's posture. The difference between the treatment plan dose and the actual measurement dose was calculated to be 0.52 % on average, significantly less than the 3 % tolerance, confirming that it obtained predicted does. The current study suggested that VERO equipment is suitable for SBRT, and would result in notable therapeutic effect.

A Case Study of Shanghai Tang: How to Build a Chinese Luxury Brand

  • Heine, Klaus;Phan, Michel
    • Asia Marketing Journal
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    • v.15 no.1
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    • pp.1-22
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    • 2013
  • This case focuses on Shanghai Tang, the first truly Chinese luxury brand that appeals to both Westerners and, more recently, to Chinese consumers worldwide. A visionary and wealthy businessman Sir David Tang created this company from scratch in 1994 in Hong Kong. Its story, spanned over almost two decades, has been fascinating. It went from what best a Chinese brand could be in the eyes of Westerners who love the Chinese culture, to a nearly-bankrupted company in 1998, before being acquired by Richemont, the second largest luxury group in the world. Since then, its turnaround has been spectacular with a growing appeal among Chinese luxury consumers who represent the core segment of the luxury industry today. The main objective of this case study is to formally examine how Shanghai Tang overcame its downfall and re-emerged as one the very few well- known Chinese luxury brands. More specifically, this case highlights the ways with which Shanghai Tang made a transitional change from a brand for Westerners who love the Chinese culture, to a brand for both, Westerners who love the Chinese culture and Chinese who love luxury. A close examination reveals that Shanghai Tang has followed the brand identity concept that consists of two major components: functional and emotional. The functional component for developing a luxury brand concerns all product characteristics that will make a product 'luxurious' in the eyes of the consumer, such as premium quality of cachemire from Mongolia, Chinese silk, lacquer, finest leather, porcelain, and jade in the case of Shanghai Tang. The emotional component consists of non-functional symbolic meanings of a brand. The symbolic meaning marks the major difference between a premium and a luxury brand. In the case of Shanghai Tang, its symbolic meaning refers to the Chinese culture and the brand aims to represent the best of Chinese traditions and establish itself as "the ambassador of modern Chinese style". It touches the Chinese heritage and emotions. Shanghai Tang has reinvented the modern Chinese chic by drawing back to the stylish decadence of Shanghai in the 1930s, which was then called the "Paris of the East", and this is where the brand finds inspiration to create its own myth. Once the functional and emotional components assured, Shanghai Tang has gone through a four-stage development to become the first global Chinese luxury brand: introduction, deepening, expansion, and revitalization. Introduction: David Tang discovered a market gap and had a vision to launch the first Chinese luxury brand to the world. The key success drivers for the introduction and management of a Chinese luxury brand are a solid brand identity and, above all, a creative mind, an inspired person. This was David Tang then, and this is now Raphael Le Masne de Chermont, the current Executive Chairman. Shanghai Tang combines Chinese and Western elements, which it finds to be the most sustainable platform for drawing consumers. Deepening: A major objective of the next phase is to become recognized as a luxury brand and a fashion or design authority. For this purpose, Shanghai Tang has cooperated with other well-regarded luxury and lifestyle brands such as Puma and Swarovski. It also expanded its product lines from high-end custom-made garments to music CDs and restaurant. Expansion: After the opening of his first store in Hong Kong in 1994, David Tang went on to open his second store in New York City three years later. However this New York retail operation was a financial disaster. Barely nineteen months after the opening, the store was shut down and quietly relocated to a cheaper location of Madison Avenue. Despite this failure, Shanghai Tang products found numerous followers especially among Western tourists and became "souvenir-like" must-haves. However, despite its strong brand DNA, the brand did not generate enough repeated sales and over the years the company cumulated heavy debts and became unprofitable. Revitalizing: After its purchase by Richemont in 1998, Le Masne de Chermont was appointed to lead the company, reposition the brand and undertake some major strategic changes such as revising the "Shanghai Tang" designs to appeal not only to Westerners but also to Chinese consumers, and to open new stores around the world. Since then, Shanghai Tang has become synonymous to a modern Chinese luxury lifestyle brand.

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Venture Capital Investment and the Performance of Newly Listed Firms on KOSDAQ (벤처캐피탈 투자에 따른 코스닥 상장기업의 상장실적 및 경영성과 분석)

  • Shin, Hyeran;Han, Ingoo;Joo, Jihwan
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.17 no.2
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    • pp.33-51
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    • 2022
  • This study analyzes newly listed companies on KOSDAQ from 2011 to 2020 for both firms having experience in attracting venture investment before listing (VI) and those without having experience in attracting venture investment (NVI) by examining differences between two groups (VI and NVI) with respect to both the level of listing performance and that of firm performance (growth) after the listing. This paper conducts descriptive statistics, mean difference, and multiple regression analysis. Independent variables for regression models include VC investment, firm age at the time of listing, firm type, firm location, firm size, the age of VC, the level of expertise of VC, and the level of fitness of VC with investment company. Throughout this paper, results suggest that listing performance and post-listed growth are better for VI than NVI. VC investment shows a negative effect on the listing period and a positive effect on the sales growth rate. Also, the amount of VC investment has negative effects on the listing period and positive effects on the market capitalization at the time of IPO and on sales growth among growth indicators. Our evidence also implies a significantly positive effect on growth after listing for firms which belong to R&D specialized industries. In addition, it is statistically significant for several years that the firm age has a positive effect on the market capitalization growth rate. This shows that market seems to put the utmost importance on a long-term stability of management capability. Finally, among the VC characteristics such as the age of VC, the level of expertise of VC, and the level of fitness of VC with investment company, we point out that a higher market capitalization tends to be observed at the time of IPO when the level of expertise of anchor VC is high. Our paper differs from prior research in that we reexamine the venture ecosystem under the outbreak of coronavirus disease 2019 which stimulates the degradation of the business environment. In addition, we introduce more effective variables such as VC investment amount when examining the effect of firm type. It enables us to indirectly evaluate the validity of technology exception policy. Although our findings suggest that related policies such as the technology special listing system or the injection of funds into the venture ecosystem are still helpful, those related systems should be updated in a more timely fashion in order to support growth power of firms due to the rapid technological development. Furthermore, industry specialization is essential to achieve regional development, and the growth of the recovery market is also urgent.