• Title/Summary/Keyword: merger

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A Study on Life-Cycle Categorical Variables of Quasi-Market SOC Public Enterprise (공기업 수명주기 분류변수 도출을 위한 기초연구 : 준시장형 SOC 공기업을 대상으로)

  • Park, Dong Sun;Shin, Wan Seon
    • Journal of Korean Society of Industrial and Systems Engineering
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    • v.37 no.4
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    • pp.168-176
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    • 2014
  • The enterprise life cycle derived from the product life cycle consists of introduction, growth, maturity and decline. The enterprise tries to reach the growth stage early and stay at the maturity stage stably through expanding its businesses and investing for the new technology. The public enterprise is not different but its life cycle is more prone to be affected by the national development and policy. A typical example can be found in the case of the quasi market SOC public enterprise which spends massive amount of fund to provide social infrastructure. After the fulfillment of its mandated mission it is exposed to the pressure of a merger or a closure usually because large portion of the debt is directly linked to the national financial stability and credit ratings. This research is focused on the variables that influence the life cycle of the quasi market SOC public Enterprise for its future competitiveness is in connection with its normalization, advancement and rationalization. In this respect, categorical variables system centering on public characteristics and profitability drew eight categorical variables such as policy outcomes, public benefit, finance and business values etc.

Evidence of Stellar Substructures on the Near-infrared Image of M31 System

  • Kang, Minhee;Chun, Sang-Hyun;Sohn, Young-Jong
    • The Bulletin of The Korean Astronomical Society
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    • v.39 no.1
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    • pp.41.2-41.2
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    • 2014
  • Hierarchical merging scenario indicates that galaxies go through major and minor merger events during their formation and evolution. As a result of the merging, substructural features of remnants such as stellar stream are shown around a current galaxy system. To find evidence of stellar substructures on M31 system, we used the near-infrared images of JHK filters obtained from the Wide Field Camera (WFCAM) at UKIRT 3.8m. A total sky coverage is an area of about$ 4.5^{\circ}{\times}6^{\circ}$ around M31. Indeed, M31 system which consists of several satellite systems contains stellar substructures such as giant stellar stream, loops, and spurs. By analysing stellar populations on the near-infrared color-magnitude diagrams, we selected member star candidates of each stellar substructure, from which we map out spatial distribution of stars in the vicinity of M31 system. Here, we present spatial density distribution maps of stars on each substructure over the entire field of M31 system. Also, we discuss the possible origin of the substructures and the implications on the galaxy assembly process.

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Compact Binaries Ejected from Globular Clusters as GW Sources

  • Bae, Yeong-Bok;Kim, Chunglee;Lee, Hyung Mok
    • The Bulletin of The Korean Astronomical Society
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    • v.38 no.1
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    • pp.57.2-57.2
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    • 2013
  • Based on N-body simulations, we find out that significant fraction of dynamically formed BH-BH (10 $M_{\odot}$ and NS-NS (1.4 $M_{\odot$ ecah) binaries are ejected from globular clusters. About 30 percent of compact stars are ejected in the form of binary. The merging time of ejected binary depends on the velocity dispersion of globular cluster. Some of ejected binaries have merging time-scales shorter than Hubble time and are expected to produce gravitational waves that can be detectable by the advanced ground-based interferometers. The merger rates of ejected BH-BH and NS-NS binaries per globular cluster are estimated to be 3.5 and 17 per Gyr, respectively. Assuming the spatial density of globular clusters as 8.4 $h^3$ clusters $Mpc^{-3}$ and extrapolating to the horizon distance of the advanced LIGO-Virgo network, we expect the detection rates solely attributed to BH-BH and NS-NS with cluster origin are to be 42 and 1.7 $yr^{-1}$, respectively. Besides, we find out that BH-NS binary ejection hardly occurs in globular clusters and dynamically formed compact binaries may possibly be the source of short GRBs whose locations are far from host galaxies.

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A Study on Developing the Standardized Index of Evaluation for Upgrading the School Facilities (학교시설개선을 위한 평가지표개발에 관한 연구)

  • Song, Byung-Joon;Kim, Young-Suk;Chu, Beom
    • Korean Institute of Interior Design Journal
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    • v.21 no.6
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    • pp.260-270
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    • 2012
  • The demographic and environmental changes such as the decrease of the population growth rate and the increase of the population of the senior citizens, which become issues of the modern society, are bringing numerous changes of many aspects like national economy, community, and culture. These social phenomena give impacts on the school facilities as well. Thus owing to the decrease of the number of the students, the number of the newly constructed schools has been decreased drastically, and moreover the merger of the schools cause many schools to be default. Meanwhile, the school facilities have been expanded into the functions of the local community centers, and the various educational activities demand the diversity and flexibility of the spaces. These factors add more burdens to the current schools. Therefore the school facilities are needed to adopt a flexible and relevant change necessary for using the spaces in accordance with the changed needs of the times, and are needed to reinvented continuously not to limit the educational and social activities because of the degradation of the school facilities. Yet because there are no proper criteria for doing the task, problems related to the relevance of the task and the unnecessary investment are raised. So through this study I tried to demonstrate the standardized index in terms of the sequential priority of upgrading the facilities among the schools.

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COSMIC RAY ACCELERATION AT COSMOLOGICAL SHOCKS: NUMERICAL SIMULATIONS OF CR MODIFIED PLANE-PARALLEL SHOCKS

  • KANG HYESUNG
    • Journal of The Korean Astronomical Society
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    • v.36 no.3
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    • pp.111-121
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    • 2003
  • In order to explore the cosmic ray acceleration at the cosmological shocks, we have performed numerical simulations of one-dimensional, plane-parallel, cosmic ray (CR) modified shocks with the newly developed CRASH (Cosmic Ray Amr SHock) numerical code. Based on the hypothesis that strong Alfven waves are self-generated by streaming CRs, the Bohm diffusion model for CRs is adopted. The code includes a plasma-physics-based 'injection' model that transfers a small proportion of the thermal proton flux through the shock into low energy CRs for acceleration there. We found that, for strong accretion shocks with Mach numbers greater than 10, CRs can absorb most of shock kinetic energy and the accretion shock speed is reduced up to $20\%$, compared to pure gas dynamic shocks. Although the amount of kinetic energy passed through accretion shocks is small, since they propagate into the low density intergalactic medium, they might possibly provide acceleration sites for ultra-high energy cosmic rays of $E\ll10^{18}eV$. For internal/merger shocks with Mach numbers less than 3, however, the energy transfer to CRs is only about $10-20\%$ and so nonlinear feedback due to the CR pressure is insignificant. Considering that intracluster medium (ICM) can be shocked repeatedly, however, the CRs generated by these weak shocks could be sufficient to explain the observed non-thermal signatures from clusters of galaxies.

Merging Features and Optical-NIR Color Gradient of Early-type Galaxies

  • Kim, Du-Ho;Im, Myeong-Sin
    • The Bulletin of The Korean Astronomical Society
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    • v.36 no.1
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    • pp.57.1-57.1
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    • 2011
  • It has been suggested that merging plays an important role in the formation and the evolution of early-type galaxies (ETGs). Optical-NIR color gradients of ETGs in high density environments are found to be less steep than those of ETGs in low density environments, hinting frequent merger activities in ETGs in high density environments. In order to examine if the flat color gradients are the result of dry mergers, we studied the relations between merging features, color gradient, and environments of 281 low redshift ETGs selected from Sloan Digital Sky Survey (SDSS) Stripe82. The sample contains 222 relaxed ETGs, 38 ETGs with tidal features, 10 galaxies with dust features and 11 galaxies with tidal and dust features, and Near Infrared (NIR) images are taken from UKIRT Infrared Deep Sky Survey (UKIDSS) Large Area Survey (LAS). We find that r-K color gradients of field sample galaxies are steeper than those of sample ETGs within cluster environments. For the field sample galaxies, a relatively large number of galaxies with peculiar features contribute to the steeper color gradients, while the absence of these peculiar early-type galaxies make color gradients of the cluster sample galaxies intact. In high density environment, ETGs are already evolved and relaxed, resulting flat color gradients. However, in low density environments, a majority of ETGs undergone merging recently which makes the color gradients steep.

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Adopting Process Management-the Importance of Recognizing the Organizational Transformation

  • Hellstrom, Andreas;Peterson, Jonas
    • International Journal of Quality Innovation
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    • v.7 no.1
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    • pp.20-34
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    • 2006
  • The purpose of this study is to investigate what happens within an organization when a process view of the business is adopted. With the example of an empirical case, we aim to illustrate: how members of the organization make sense of process management; what contributions members of the organization consider to be the result of adopting a process view; and the relationship between the functional and the process structure. The empirical base in this study is one of Sweden's largest purchasing organizations within the public sector. The results are drawn from interviews with the process owners and a survey to all members involved in process teams. The case findings reveal an ambiguous image of process management. At the same time as process management solved specific organizational problems, it generated new dilemmas. It is argued that it is more rewarding to consider the adoption of the process view a 'social negotiation' rather than the result of planned implementation. The study also highlights that the meaning of process management is not anything given but something being created, and its negotiation and translation into organizational practice is open-ended. Furthermore, the study gives an illustration of the conflict between the adopted process view and the existing functional organization.

An Empirical Study on the Influence of Post-Merger Integration for Organizational Effectiveness: Focused on the Merged Corporation of LH

  • Moon, Hyo-Gon;Lee, Eui-Joong;Kim, Yong-Tai
    • Land and Housing Review
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    • v.2 no.4
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    • pp.315-324
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    • 2011
  • In the merged organization, the efforts of integration such as various PMI activities, etc. are exerted and the performance of PMI can be judged by evaluating the effectiveness of an organization. In this paper, the empirical analysis was conducted to see what effects of 'planned PMI activities' and 'voluntary integration efforts' have on the effectiveness of an organization which is 'Organizational Commitment', 'Job Satisfaction', 'Emotional Integration' and 'Shared Value Recognition'. The survey was made on the employees of LH, which is a representative case of public corporation advancement, and SPSS 17.0 and AMOS 17 were used for the analysis. As a result of the analysis of a structural equation model, it indicated that both 'planned PMI activities' and 'voluntary integration efforts' have direct influence on 4 indices of effectiveness of an organization respectively. In particular, it was found that 'planned PMI activities' affects 'Shared Value Recognition' the most and 'voluntary integration efforts' has the largest effect on 'Emotional Integration'. Through this study, it was verified that voluntary integration efforts of members as well as the planed formal PMI activities are also very important factor of effect on the integration performance of an organization.

A Strategy of ROK's Military Base Conversion into the Civil Use (한국군 군사기지의 민수전환 전략)

  • Lee, Pil-Jung;Jang, Hyun-Ju
    • Journal of the military operations research society of Korea
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    • v.33 no.1
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    • pp.75-92
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    • 2007
  • Most of countries in the world are stepping up military conversion to achieve military modernization. The issues of military conversion hold reallocation of financial resources, reorientation of R&D, restructuring of military industry, demobilization, base closure and relocation, scrapping of surplus weapons and so on. Also ROK is stepping up military modernization through defense reform. In particular, ROK has the plan to convert bases; transfering U.S. Forces in Korea and conducting the merger and abolition of bases. In this respect, we expect increase of base conversion easily in the future. Therefore, we tried to find the strategy of base conversion that ROK can conduct base conversion with success in this study. So that we analyze cases of base conversion which were conducted in ROK and U.S. Moreover, we extract problems of the process of base conversion in ROK and finally find out substitutes.

Factors Affecting the Liquidity of Firms After Mergers and Acquisitions: A Case Study of Commercial Banks in Vietnam

  • NGUYEN, Thi Nguyet Dung;HA, Thanh Cong;NGUYEN, Manh Cuong
    • The Journal of Asian Finance, Economics and Business
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    • v.8 no.5
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    • pp.785-793
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    • 2021
  • The purpose of the research is to assess the factors affecting the liquidity of the commercial banks that are conducting mergers and acquisitions activities in Vietnam during the 2008-2018 period. This study employs samples based on 2-component data sets with cross-section and time-series data collected from the annual report of the State Bank and the audited acquisitions financial statements of nine commercial banks engaged in mergers and acquisitions activities. To carry out the research objectives, the authors conducted quantitative analysis through the Pooled OLS, REM, FEM and GMM models. The results shown that: (i) bank liquidity is positively affected by liquidity lagged, the return on equity (ROE) and economic growth; negatively affected by bank size, non-performing loan, short-run loan to deposit ratio; (ii) there is not enough evidence to conclude about the relationship between net profit margin, equity-to-assets ratio and inflation rate to bank liquidity; (iii) notably, we found evidence that, after the mergers and acquisitions, the liquidity of Vietnamese commercial banks decreased. The findings of this study suggest that bank managers take a more comprehensive view of the results of mergers and acquisitions and implications for banks to improve liquidity in the post-merger and acquisitions conditions.