• Korea Trade Review
• /
• v.46 no.3
• /
• pp.65-79
• /
• 2021

This paper investigates how corporate governance characteristics are related to long-term corporate survival in an emerging economy. We used the data of 311 companies listed on the Korean Stock Exchange (KSE) in 1979 and examined the survival chances of those companies through the IMF crisis in 1998, upon governance characteristics that are expected to increase long-term strategic orientations. We utilized Cox regression model for the analysis. The results indicate that firms with particular governance characteristics that may be tied to CEO's long-term orientations show higher long-term survivability. Specifically, the probability of a firm's long-term survival is increased when founding family ownership is sustained, the company ownership is concentrated, and the CEO is the largest shareholder. This study has significance in that it is one of initial tries to examine the impact of corporate governance on long-term corporate survival with large scale statistical analysis. Also, the study findings provide some clues as to why the portion of family firms in emerging economies is continuously increased, thus providing meaningful insights to corporate governance literature.

• International Journal of Highway Engineering
• /
• v.18 no.4
• /
• pp.19-28
• /
• 2016

PURPOSES : Long-life asphalt pavements are used widely in developed countries. In order to be able to devise an effective maintenance strategy for such pavements, in this study, we evaluated the performance of the long-life asphalt pavements constructed along the national highways in South Korea. Further, an economic evaluation of the long-life asphalt pavements was performed based on a life-cycle cost analysis. We aimed to devise a model for evaluating the performance of long-life asphalt pavements using the national highway pavement management system (PMS) database as well as for analyzing the economic feasibility of such pavements, in order to promote their use in South Korea. METHODS : The maintenance history and pavement performance data were obtained from the national highway PMS database. The pavement performances for a total of 292 sections of 10 lanes (5 northbound lanes and 5 eastbound lanes) of national highways were used in this study. Models to predict the performances of hot mix asphalt (HMA) and long-life asphalt pavements under two distinct traffic conditions were developed using a simple regression method. Further, the economic feasibility of long-life asphalt pavements was evaluated using the Korea Pavement Management System (KoPMS). RESULTS : We developed service-life prediction models based on the traffic volume and the equivalent of single-axle load and found that long-life asphalt pavements have service lives 50% longer than those of HMA pavements. Further, the results of the economic analysis showed that long-life asphalt pavements are superior in terms of various economic indexes, including user cost, delay cost, total cost, and user benefits, even though their maintenance cost is higher than that of HMA pavements. A comparison of the economic feasibilities of the various groups showed that group A is superior to HMA pavements in all aspects except in terms of the maintenance criterion (crack 20% or higher) as per the NPV index. However, the long-life asphalt pavements in group B were superior in terms of the maintenance criterion (crack 25% or higher) regardless of the economic feasibility. CONCLUSIONS : The service life of long-life asphalt pavements was found to be approximately 50% longer than that of HMA pavements, regardless of the traffic volume characteristics. The economic feasibility of long-life asphalt pavements was evaluated based on the KoPMS. The results of the economic analysis were the following: long-life asphalt pavements are exceptional in terms of almost all factors, such as user cost, delay cost, total cost, and user benefit; however, the exception is the maintenance cost. Further, the economic feasibility of the long-life asphalt pavements in group B was found to be better than that of the HMA pavements (crack 25% or higher).

• Journal of Korea Trade
• /
• v.25 no.8
• /
• pp.57-74
• /
• 2021

Purpose - This study aims to analyze the characteristics of network construction by Norwegian Air and AirAsia X, which are recognized as leading airlines in the long-haul LCC market. Based on this analysis, this study intends to provide implications for networking strategies for Korean LCCs that seek to enter the long-haul market when the aviation market stabilizes again upon the end of the COVID-19 pandemic. Design/methodology - To conduct the network analysis on long-haul low-cost airlines, the Official Airline Guide (OAG) Schedule Analyzer was used to extract long-haul data of Norwegian Air and AirAsia X. To analyze the trend of the long-haul route network, we obtained the data from 3 separate years between 2011 and 2019. The network was analyzed using UCINET 6.0 in order to examine the network structure of long-haul low-cost airlines and the growth trend of each stage. Findings - Analyzing the network of long-haul routes by visualizing the network structure of low-cost carriers showed the following results. In its early years, Norwegian Air's long-haul route network, centering on regional airports in Spain and Sweden, connected European regions, the Middle East, and Africa. As time passed, however, the network expanded and became steadily strong as the airline connected airports in other European countries to North America and Asia. In addition, in 2011, AirAsia X showed links to parts of Europe, such as London and Paris, the Middle East and India, and Australia and Northeast Asia, centering on the Kuala Lumpur Airport. Although the routes in Europe were suspended, the network continued to expand while concentrating on routes of less than approximately 7,000 km. It was found that instead of giving up on ultra-long-haul routes such as Europe, the network was further expanded in Northeast Asia, such as the routes in Korea and Japan centering on China. Originality/value - Until the COVID-19 pandemic broke out, Norwegian Air actively expanded long-haul routes, resulting in the number of long-haul routes quintupling since 2011. The unfortunate circumstance, wherein the world aviation market was rendered stagnant due to the outbreak of COVID-19, hit Norwegian Air harder than any other low-cost carriers. However, in the case of AirAsia X, it was found that it did not suffer as much damage as Norwegian Air because it initially withdrew from unprofitable routes over 7,000 km and grew by gradually increasing profitable destinations over shorter distances. When the COVID-19 pandemic ends and the aviation market stabilizes, low-cost carriers around the world, including Korea, that enter the long-haul route market will need to employ strategies to analyze the marketability of potential routes and to launch the routes that yield the highest profits without being bound by distance. For stable growth, it is necessary to take a conservative stance; first, by reviewing the business feasibility of the operating a small number of highly profitable routes, and second, by gradually expanding these routes.

• Korean Institute of Interior Design Journal
• /
• v.25 no.1
• /
• pp.93-100
• /
• 2016

Long-life housing means a housing which structural members (Support) such as columns and floor are maintained for a long period of time and the housing can be used for approximately 100 years by replacing components (Infill) such as walls and furniture. The government established "Certification standards of long-life housing construction" on December 24, 2014, requiring the long-life housing certification for construction of apartment houses for over 1,000 households. However, it is necessary to prepare an incentive measure which could be granted to construction related personnel and housing owners due to the effectiveness of such system and recognition that the initial construction cost of long-life housing is high. The purpose of this study is as follows. First, the reasons and necessity of long-life housing cost increase for each construction company, housing owner, infill component manufacturer and designer which are long-life housing related personnel are determined. The direction of incentive grant for supplying long-life housing based on the determined items is established. The result of this study is as follows. First, a special treatment which is higher than the alleviation of construction standards according to the previous ordinance is necessary for construction companies to secure the business feasibility. Also, incentives such as the provision of service space and wide balcony are necessary to improve the preference level of parceling out. Second, financial incentives such as financial support for housing purchase, reduction and exemption of tax (acquisition tax and registration tax), and support of maintenance cost are required for house owners. Third, it is essential to increase opportunities to participate in the market for infill component manufacturers by applying additional points for PQ. Fourth, it is needed to provide compensation for additional human resource and time at the time of designing to designers by preparing the long-life housing design cost standards.

• Computers and Concrete
• /
• v.22 no.3
• /
• pp.261-267
• /
• 2018

Long-term deformation of a steel-reinforced concrete (SRC) column is different from that of a reinforced concrete (RC) column due to the different moisture distribution. Wide-flange steel in an SRC column obstructs diffusion and makes long-term deformation slower. Previous studies analyzed the characteristics of long-term deformation of SRC columns. In this study, an additional experiment is conducted to more precisely investigate the effect of wide-flange steel on the long-term deformation of SRC columns. Long-term deformation, especially creep of SRC columns with various types of wide-flange steel, is tested. Wide-flange steel for the experiment is made of thin acrylic panels that can block diffusion but does not have strength, because the main purpose of this study is to exclusively demonstrate the long-term deformation of concrete caused by moisture diffusion, not by the reinforcement ratio. Experimental results show that the long-term deformation of a SRC column develops slower than that in a RC column, and it is slower as the wide-flange steel hinders diffusion more. These experimental results can be used for analytical prediction of long-term deformation of various SRC columns. An example of the analytical prediction is provided. According to the experimental and analytical results, it is clear that a new prediction model for long-term deformation of SRC columns should be developed in further studies.

• Journal of Korean Society of Coastal and Ocean Engineers
• /
• v.14 no.1
• /
• pp.34-40
• /
• 2002

In order to estimate the height of long period wave from character of deep water wave, field observation is carried out three wave gauge are arranged by a straight line from the seashore to offshore direction and the result is analyzed. In addition, the existing theory of the mechanism for long period wave producer is verified by field observation, and the relation between deep water wave and long period wave of shallow area is examined. Observed long period wave is coincided with the existing theory for the most part. In order to add the change of time and space of long period wave, the height of long period wave is calculated by the composition of long period wave in each position. As a result, the relation of long period wave and deep water wave is presented more clear. Estimate formula is drew through them.

• PNF and Movement
• /
• v.18 no.1
• /
• pp.127-132
• /
• 2020

Purpose: This study aimed to investigate the impact of resistance on the muscle activities of the long and short heads of the biceps brachii, according to the elbow angle in supination, and the difference in muscle activity between the long and the short heads. Methods: This study was conducted with 22 men in their 20s who voluntarily agreed to participate. With the glenohumeral joint neutral in a position of supination, the elbow angle was randomly moved to 0°, 30°, 60°, and 90°. Using an 8-channel surface EMG while the participants held a 2-kg. dumbbell, the muscle activities of the long and the short heads of the biceps brachii were measured. The measured data were statistically processed using SPSS for Windows 12.0. For the activities of the short and the long heads according to the angle, a one-way ANOVA was conducted, and subsequently, to check the results of an analysis of the difference between groups, an LSD post-hoc test was conducted. An independent t-test was used to compare the activities of the long head and the short head according to the angles. Results: The analysis of the impact of the load of the dumbbell at each elbow angle on the muscle activities of the long and short heads of the biceps brachii revealed significant differences in both heads (p < 0.05). The result of the post-hoc analysis showed significant differences in both heads at angles between 0° and 30°, between 0° and 60°, and between 0° and 90°. Analysis of the impact of the load of the dumbbell in supination on the muscle activities of the long and short heads showed a significant difference at the angle between 0° and 30° (p < 0.05). Conclusion: The long head of the biceps brachii mainly acts in supination; however, in supination at elbow-bending angles of 60° and 90°, there was no difference in muscle activity between the short head and the long head.

• Proceedings of the Korean Statistical Society Conference
• /
• 2000.11a
• /
• pp.23-26
• /
• 2000

It is noted that many econometric time series have long-memory properties. A long-memory process, or strongly dependent process, is characterized by hyperbolic decaying autocorrelations and unbounded spectral density at the origin. Since the long-memory property can be observed by data obtained from rather a long period, there is some possibility of parameter change in the process. In this paper, we consider the estimation of change-point when there is a change in the variance of a long-memory process. The estimator is based on some reasonable statistic and the consistency is shown using Taqqu's strong reduction theorem

• KIEAE Journal
• /
• v.8 no.3
• /
• pp.37-42
• /
• 2008

The purpose of this study was to comprehend specific characteristic of interface and present the standardized interface of Long Life Housing, which could be obtained by the total and various approaches. With this in mind we analyzed related studies of interface through previous studies, and based on the analysis we created standardized factors of categorization in view of characteristic of interface. Using these factors, we can determine whether the interface could be used systematically in Long Life Housing. And as these were presented in the form of Key Map for expedite the synthetic understanding of interface, we could easily reconize types of interface. Especially, we only dealt the wall of flexible interface of Long Life Housing. Throughout systemizing and standardizing works, we can expedite the understanding of interface of Long Life Housing and finally, we want to make basic data used for date base of interface which can be available for Long Life Housing.

• Proceedings of the KSME Conference
• /
• 2003.04a
• /
• pp.55-60
• /
• 2003

Case that long-fiber reinforced polymeric composites of fiber orientation situation of a direction state is J=1 that is direction of tensile strength of another state appeared highest. And theoretical tensile strength value of long-fiber reinforced polymeric composites board of fiber orientation situation of a direction state appeared similarly with tensile strength value that long-fiber reinforced polymeric composites board of fiber orientation situation of a direction state. Also, than case that efficiency of fiber orientation situation of long-fiber reinforced polymeric composites is J=1 in it is J=0.1 of fiber orientation situation effect of long-fiber reinforced polymeric composites about 60% high appear.