In this paper, we analyse empirically the effects of internal financing on investment of innovative small and medium sized enterprises listed on Kosdaq Market of Korea Exchange. The main results of this study can be summarized as follows. Free cash flows by proxy variables of internal financing have the significant effects on R&D investment as well as fixed asset investment. Internal financing has much more effects on R&D investment of general enterprises listed on Kosdaq Market than that of venture enterprises listed on Kosdaq Market, and on R&D investment of innovative enterprises than that of non-innovative enterprises. Internal financing has more effects on asset-counted R&D investment than cost-counted R&D investment. Asset-counted R&D investment is counted in intangible assets on Balance Sheet, and cost-counted R&D investment is counted in cost on Income Statement. Internal financing has more effects on R&D investment of financial constrained enterprises than that of financial unconstrained enterprises. Financial constraints is measured by credit ratings. Faulkender and Smith (2007) emphasize that low credit ratings enterprises are more likely to face financial constraints, and they rely largely on internal financing.
Journal of the Korea Academia-Industrial cooperation Society
/
v.18
no.3
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pp.49-55
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2017
Most motor cases adopt deep drawing products, which are excellent in waterproof functions, concentricity, right angle, and quality. In addition, the blower motor and seat motor, which are installed in the car interior and do not require waterproof function, adopts a multi-forming manufacturing method. The deep drawing process requires an expensive transfer press that can digest approximately 12 processes, such as drawing, trimming and piercing. On the other hand, products can be produced with low investment because the multi-forming method is composed of one multi-forming machine or one multi-forming machine and one press. The multi-forming machine is a high-priced facility that is mostly imported and a bending / shearing process multi-foaming machine, which was developed by domestic small and medium-sized enterprises, is not enough to reduce the production cost. An integral multi - forming machine is used as a limited working method for thin material and small products. A large product and thick material has a high shear load. A large product and thick material has a high shear load and uses a single crank press. After blanking, the worker manually feeds the material to a multi-forming machine. When the bending operation is performed in the multi-forming machine, it is transferred to the press again to calibrate the dimensions. This variance in work processes has resulted in lower cost competitiveness due to the lower productivity, quality issues, and excessive operator input. The aim of this study was to establish a stable and cost - effective production system through bending / shearing process separation and facility automation.
Laser-based crystallization techniques are ideally-suited for forming high-quality crystalline Si films on active-matrix display backplanes, because the highly-localized energy deposition allows for transformation of the as-deposited a-Si without damaging high-temperature-intolerant glass and plastic substrates. However, certain significant and non-trivial attributes must be satisfied for a particular method and implementation to be considered manufacturing-worthy. The crystallization process step must yield a Si microstructure that permits fabrication of thin-film transistors with sufficient uniformity and performance for the intended application and, the realization and implementation of the method must meet specific requirements of viability, robustness and economy in order to be accepted in mass production environments. In recent years, Low Temperature Polycrystalline Silicon (LTPS) has demonstrated its advantages through successful implementation in the application spaces that include highly-integrated active-matrix liquid-crystal displays (AMLCDs), cost competitive AMLCDs, and most recently, active-matrix organic light-emitting diode displays (AMOLEDs). In the mobile display market segment, LTPS continues to gain market share, as consumers demand mobile devices with higher display performance, longer battery life and reduced form factor. LTPS-based mobile displays have clearly demonstrated significant advantages in this regard. While the benefits of LTPS for mobile phones are well recognized, other mobile electronic applications such as portable multimedia players, tablet computers, ultra-mobile personal computers and notebook computers also stand to benefit from the performance and potential cost advantages offered by LTPS. Recently, significant efforts have been made to enable robust and cost-effective LTPS backplane manufacturing for AMOLED displays. The majority of the technical focus has been placed on ensuring the formation of extremely uniform poly-Si films. Although current commercially available AMOLED displays are aimed primarily at mobile applications, it is expected that continued development of the technology will soon lead to larger display sizes. Since LTPS backplanes are essentially required for AMOLED displays, LTPS manufacturing technology must be ready to scale the high degree of uniformity beyond the small and medium displays sizes. It is imperative for the manufacturers of LTPS crystallization equipment to ensure that the widespread adoption of the technology is not hindered by limitations of performance, uniformity or display size. In our presentation, we plan to present the state of the art in light sources and beam delivery systems used in high-volume manufacturing laser crystallization equipment. We will show that excimer-laser-based crystallization technologies are currently meeting the stringent requirements of AMOLED display fabrication, and are well positioned to meet the future demands for manufacturing these displays as well.
The purpose of this study was to investigate the effects of dietary methionine and lysine levels on laying hen performance. The level of protein was fixed 15% during whole experiment period, but the levels of methionine and lysine were 0.30% and 0.58% (Low), 0.32% and 0.64% (Medium), 0.35% and 0 70% (High), respectively. Total 288 laying pullets of 22 weeks age were reared from January 28, 1989 to March 23, 1990 for 60weeks. The results obtained were summarized as follows : 1. The e99 Productions were highest in medium treatment in phase I (22~42weeks of age), phase II (42~62 weeks of age) and phase III (62~82weeks of age) and especially, there was significant difference among treatments during phase II (P<0.05). 2. Egg weight was significantly increased as the levels of methionine and lysine were increased up to methionine and lysine were 0.32% and 0.64%, respectively(P<0.01). 3. Daily egg mass was highest when the levels of methionine and lysine were 0.32% and 0.64%, respectively and there were significant differences among treatments during phase I and phase II (P<0.01) 4. Daily feed intake was increased as the levels of methionine and lysine were increased, and there was significant difference among treatments during phase III (P<0.05). 5. Feed efficiency was best in medium treatment in phase I and phase II (P<0.01) 6, Viability was highest in medium treatment, but there was no significant difference among treatments. 7. Nutrient utilizability of experimental diets was not significantly different among treatments. 8. Eviscerated yield was highest and abdominal fat accumulation was lowest in medium treatment, but there was no significant difference among treatments. 9. Egg shell quality and chemical composition of egg content were not different among treatments. 10. The feed cost per kg egg mass was lowest in medium treatment and there were significant differences among treatments in phase I, phase II and whole egg laying period(P<0.05)
Journal of the Institute of Electronics and Information Engineers
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v.54
no.4
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pp.25-31
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2017
This paper presents a 270/540/750/1500-Mb/s serial-data transmitter realized in a $0.13-{\mu}m$ CMOS technology for the applications of video data transmission. A low-cost RG-58 copper cable(5C-HFBT-RG6T) is exploited as a transmission medium connected to a single BNC connector, which shows cable loss 45 dB in maximum at 1.5 GHz. RLGC modeling provides an equivalent circuit for SPICE simulations of which characteristics are very similar to the measured cable loss. The loss can be compensated by pre-emphasis at transmitter and equalization at receiver if needed. Measurements of the proposed transmitter chip demonstrate the operations of 270-Mb/s, 540-Mb/s, 750-Mb/s and 1.5-Gb/s, and provide the output voltage levels of $370mV_{pp}$ at 1.5 Gb/s even with the pre-emphasis turned-off. The total power consumption is 104 mW from 1.2/3.3-V supplies and the chip occupies the area of $1.65{\times}0.9mm^2$.
Journal of the Korea Institute of Information and Communication Engineering
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v.19
no.12
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pp.2836-2843
/
2015
Due to metallicity of materials, a vessel has a limitation to adopt RF-based wireless communication technologies for the inner communication means. Visible Light Communication(VLC) can be a sound alternative to dissolve such a limitation. Using a visual light as a transmission medium, VLC is free from radio interferences and restriction of radio usages which are typically related to RF-based wireless communications. In addition, VLC can not only require the facility cost relatively low because of being possibly converged with existing LED illumination, but also be harmless to the human body. This paper proposes an indoor location-based emergency call service system solution for ships using the VLC technology that supports 256Kbps data rate and 5m transmission distance. This paper presents real implementation and testing results of the solution which verifies the propriety of the proposal.
Journal of the Korean Operations Research and Management Science Society
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v.41
no.2
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pp.53-65
/
2016
Static wireless multi-hop networks, such as wireless mesh networks and wireless sensor networks have proliferated in recent years because of they are easy to deploy and have low installation cost. Two key measures are used to evaluate the performance of a multicast tree algorithm or protocol : end-to-end delay and the number of transmissions. End-to-end delay is the most important measure in terms of QoS because it affects the total throughput in wireless networks. Delay is similar to the hop count or path length from the source to each destination and is directly related to packet success ratio. In wireless networks, each node uses the air medium to transmit data, and thus, bandwidth consumption is related to the number of transmission nodes. A network has many transmitting nodes, which will cause many collisions and queues because of congestion. In this paper, we optimize two metrics through a guaranteed delay scheme. We provide an integer linear programming formulation to minimize the number of transmissions with a guaranteed hop count and preprocessing to solve the aforementioned problem. We extend this scheme not only with the guaranteed minimum hop count, but also with one or more guaranteed delay bounds to compromise two key metrics. We also provide an explanation of the proposed heuristic algorithm and show its performance and results.
Kim, Dong-Won;Han, Byung-Sung;Chong, Kil-To;Kim, Yong-Jun;Kim, Myoung-Soon;Lim, Tae-Yeong;Chae, Seok
IE interfaces
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v.11
no.3
/
pp.193-207
/
1998
The agriculture and fishery share in the Korean GDP is continuously decreasing after 1960s. Furthermore the proportion of these industries in the GDP has diminished as low as 10 percent in recent years. However, the stockbreeding sector in these industries are considerably expanded. More than 50 percent of the whole farmhouses are involved in the livestock farming, and the stock farming portion is steadily increased in its size and scope. Thus, the mechanization and the automization of stockbreeding equipments are greatly required to reduce down production cost, as well as to win the competitiveness in the global market. From this aspect, developed in this paper is a stockbreeding management system (SMS) for dairy cattle, which can be used in small and medium sized dairy farms. First, the basic schema of the stockbreeding management system are addressed in view of stockbreeding management for individual dairy cattle. Electronic identification (EI) systems and sensory devices have changed stockbreeding management strategy from group stock control into individual stock control manner. The SMS receives stock body measurement data through the sensory devices such as weight, temperature, and milk conductivity meters. A common database then integrates those measuring data together so that the SMS can determine the appropriate solution on each stock's breeding such as feeding and milking. Thus, each stock can be supervised by a sophisticated SMS that provides the best solution to the stockbreeding throughout the stock's whole life-cycle. Secondly. six major submodules of the SMS, based on the EI and sensory devices, are proposed. They are individual stock management, disease management, health management, feeding management, milking management, and a propagation management submodule. Finally, a prototype system for the SMS is demonstrated. The system is developed using Delphi 2 client-server system run under the Windows 95 environment.
Energy resistance welding (ERW) is a pipe-producing process that has high productivity and low manufacturing cost. However, the high heat input of ERW degrades the mechanical property of the pipe. This study investigates the effect of heat input and alloying elements on microstructure and mechanical properties of ERW pipes. As the heat input increased, the ferrite amount increased. The ferrite amount in the weld centerline was larger than t at in the weld boundary. Medium carbon steels (S45C and K55) having 0.3~0.4wt.% carbon yielded a significant difference of ferrite amount in the weld centerline and weld boundary. High alloyed steels (DP780 and K55) having 1.5~1.6wt.% Mn showed a ferrite rich zone in the weld centerline. These phenomena are probably due to decarburization and demanganisation in the weld centerline. As the ferrite fraction increased, the hardness decreased a little for the S45C steels. In addition, DP780 steels and K55 steels showed that the hardness drops when those steels have a ferrite rich zone. But we demonstrated the good tensile property of the DP780 steels and K55 steels in which Mn is included.
As the use of the Internet has become more common worldwide, digital marketing has gained a great weight as an advertising medium. Low cost and effective digital marketing tools include websites, eyes, blogs, search advertisements, online banners, mailings, YouTube, etc., which most companies around the world use one or more of them for digital marketing. I have. In this environment, global companies with more than one overseas subsidiary have become very interested in how to establish and implement digital marketing strategies. However, many studies have been conducted on the necessity of digital marketing and its implementation strategy, but there are no studies on specific implementation methods that can be applied in practice. Therefore, in this study, we intend to define digital marketing suitable for global SMEs, establish a promotion strategy model, and present a specific implementation strategy establishment planl. Through this, we intend to contribute to establishing a general-purpose SME global digital marketing strategy.
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