• 제목/요약/키워드: model studies

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Analysis on the core factors in the successful importing of ERP system in Small & Medium Enterprises - Focusing on the Cooperation Model between Industry and Education in Chung-Buk province (중소기업 ERP 시스템 도입 핵심성공요인 분석 -충북지역 산학연계 모델을 중심으로-)

  • 김범년;김영렬
    • Journal of Korea Society of Industrial Information Systems
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    • v.8 no.3
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    • pp.51-60
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    • 2003
  • In the radical char]go of the business environments that the existing facilities can not guarantee the business-frosts anymore, enterprises have been importing ERP system. In Korea, Sam-sung Electronics did it for the first tin in the latter half of 1994 and other enterprises succeeded. Currently, government and public enterprises as well as most of the large enterprises are employing ERP system to sharpen the competitiveness and to win the business transparency. On the other hand, it is harder for small and medium enterprises shaded by the large enterprises to be well-equipped with information system such as ERP, because they have already suffered from chronic financial difficulties and shortage of many resources. Most of all, they prefer the short-term project that does not need much tine for them to make decisions and to carry out fully. Grounded on the above factors, in this work, I suggest the suitable ERP model for the small and medium enterprises and the successful importing process of ERP, which is derived from the previous researches made by other masters' thesis. If necessary information and human resources are interchanged pertinently between local education institute and small and medium enterprise, the latter could not only deal with the confronted difficulties successfully inside and outside but attain the goal of being proficient in up-to-minute high technology. Besides, giving the students the opportunity of researching into the practice of the business they have not ever known, local universities could help their students accumulate knowledges and acquire ideas which could not be achieved in pure academic studies. When the above-mentioned procedure is over, the students might get the intellectual faculty to ponder on the future more concretely and enter a profession more carefully. In the result, we would raise up the percentage of the employment among the graduates. And active participation of university professors is the last important factor that assists the small and medium enterprises for introducing ERP system successfully. Their scholarly attainments play an important role in strengthening local economy and make the business competitiveness balanced between the capital and the local economy.

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A Meta-analysis of Ambient Air Pollution in Relation to Daily Mortality in Seoul, $1991\sim1995$ (메타분석 방법을 적용한 서울시 대기오염과 조기사망의 상관성 연구 (1991년$\sim$1995년))

  • Dockery, Douglas W.;Kim, Chun-Bae;Jee, Sun-Ha;Chung, Yong;Lee, Jong-Tae
    • Journal of Preventive Medicine and Public Health
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    • v.32 no.2
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    • pp.177-182
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    • 1999
  • Objectives: To reexamine the association between air pollution and daily mortality in Seoul, Korea using a method of meta-analysis with the data filed for 1991 through 1995. Methods: A separate Poisson regression analysis on each district within the metropolitan area of Seoul was conducted to regress daily death counts on levels of each ambient air pollutant, such as total suspended particulates (TSP), sulfur dioxide $(SO_2)$, and ozone $(O_3)$, controlling for variability in the weather condition. We calculated a weighted mean as a meta-analysis summary of the estimates and its standard error. Results: We found that the p value from each pollutant model to test the homogeneity assumption was small (p<0.01) because of the large disparity among district-specific estimates. Therefore, all results reported here were estimated from the random effect model. Using the weighted mean that we calculated, the mortality at a $100{\mu}g/m^3$ increment in a 3-day moving average of TSP levels was 1.034 (95% Cl 1.009-1.059). The mortality was estimated to increase 6% (95% Cl 3-10%) and 3% (95% Cl 0-6%) with each 50 ppb increase for 9-day moving average of SO2 and 1-hr maximum O3, respectively. Conclusions: Like most of air pollution epidemiologic studies, this meta-analysis cannot avoid fleeing from measurement misclassification since no personal measurement was taken. However, we can expect that a measurement bias be reduced in a district-specific estimate since a monitoring station is hefter representative cf air quality of the matched district. The similar results to those from the previous studios indicated existence of health effect of air pollution at current levels in many industrialized countries, including Korea.

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Development and Application of Scientific Inquiry-based STEAM Education Program for Free-Learning Semester in Middle School (중학교 자유학기제에 적합한 과학 탐구 중심의 융합인재교육 프로그램 개발 및 적용)

  • Jeong, Hyeondo;Lee, Hyonyong
    • Journal of Science Education
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    • v.41 no.3
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    • pp.334-350
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    • 2017
  • The purposes of this study are to develop scientific-inquiry based on STEAM education program and to investigate the effects of the program on middle-school students' interests, self-efficacy, and career choice about science, technology/engineering, and mathematics. In order to develop this program, the literature investigation and previous studies were conducted, so that finally the developmental direction was based on scientific inquiry and the developmental theme and model were selected. A total 92 first-graders in G middle-school of Daegu city were participated in this study. A single group pre-post test paired t-test was conducted to figure out changes of students' interest, self-efficacy, and career choices before or after applying this program. In addition, in-depth interviews were conducted with 14 students to find their specific responses. The results of this study were as follows. First, STEAM education program on the theme of 'RC Airplane' was developed on the basis of the 'ADBA' model. Second, the developed STEAM educational program not only results a decisive difference statistically but also has significant effects on middle-school students' interests, self-efficacy, and career choice in science, technology/engineering, and mathematics, who are involved in the free-semester program, across the overall affective domain. In conclusion, the STEAM educational program in this study could affect significant meanings to middle-school students during the free-semester. It could contribute to facilitate middle-school students' education for happiness and to grow the creative STEAM talents.

Optimization of Support Vector Machines for Financial Forecasting (재무예측을 위한 Support Vector Machine의 최적화)

  • Kim, Kyoung-Jae;Ahn, Hyun-Chul
    • Journal of Intelligence and Information Systems
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    • v.17 no.4
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    • pp.241-254
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    • 2011
  • Financial time-series forecasting is one of the most important issues because it is essential for the risk management of financial institutions. Therefore, researchers have tried to forecast financial time-series using various data mining techniques such as regression, artificial neural networks, decision trees, k-nearest neighbor etc. Recently, support vector machines (SVMs) are popularly applied to this research area because they have advantages that they don't require huge training data and have low possibility of overfitting. However, a user must determine several design factors by heuristics in order to use SVM. For example, the selection of appropriate kernel function and its parameters and proper feature subset selection are major design factors of SVM. Other than these factors, the proper selection of instance subset may also improve the forecasting performance of SVM by eliminating irrelevant and distorting training instances. Nonetheless, there have been few studies that have applied instance selection to SVM, especially in the domain of stock market prediction. Instance selection tries to choose proper instance subsets from original training data. It may be considered as a method of knowledge refinement and it maintains the instance-base. This study proposes the novel instance selection algorithm for SVMs. The proposed technique in this study uses genetic algorithm (GA) to optimize instance selection process with parameter optimization simultaneously. We call the model as ISVM (SVM with Instance selection) in this study. Experiments on stock market data are implemented using ISVM. In this study, the GA searches for optimal or near-optimal values of kernel parameters and relevant instances for SVMs. This study needs two sets of parameters in chromosomes in GA setting : The codes for kernel parameters and for instance selection. For the controlling parameters of the GA search, the population size is set at 50 organisms and the value of the crossover rate is set at 0.7 while the mutation rate is 0.1. As the stopping condition, 50 generations are permitted. The application data used in this study consists of technical indicators and the direction of change in the daily Korea stock price index (KOSPI). The total number of samples is 2218 trading days. We separate the whole data into three subsets as training, test, hold-out data set. The number of data in each subset is 1056, 581, 581 respectively. This study compares ISVM to several comparative models including logistic regression (logit), backpropagation neural networks (ANN), nearest neighbor (1-NN), conventional SVM (SVM) and SVM with the optimized parameters (PSVM). In especial, PSVM uses optimized kernel parameters by the genetic algorithm. The experimental results show that ISVM outperforms 1-NN by 15.32%, ANN by 6.89%, Logit and SVM by 5.34%, and PSVM by 4.82% for the holdout data. For ISVM, only 556 data from 1056 original training data are used to produce the result. In addition, the two-sample test for proportions is used to examine whether ISVM significantly outperforms other comparative models. The results indicate that ISVM outperforms ANN and 1-NN at the 1% statistical significance level. In addition, ISVM performs better than Logit, SVM and PSVM at the 5% statistical significance level.

Analyzing the Effect of Online media on Overseas Travels: A Case study of Asian 5 countries (해외 출국에 영향을 미치는 온라인 미디어 효과 분석: 아시아 5개국을 중심으로)

  • Lee, Hea In;Moon, Hyun Sil;Kim, Jae Kyeong
    • Journal of Intelligence and Information Systems
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    • v.24 no.1
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    • pp.53-74
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    • 2018
  • Since South Korea has an economic structure that has a characteristic which market-dependent on overseas, the tourism industry is considered as a very important industry for the national economy, such as improving the country's balance of payments or providing income and employment increases. Accordingly, the necessity of more accurate forecasting on the demand in the tourism industry has been raised to promote its industry. In the related research, economic variables such as exchange rate and income have been used as variables influencing tourism demand. As information technology has been widely used, some researchers have also analyzed the effect of media on tourism demand. It has shown that the media has a considerable influence on traveler's decision making, such as choosing an outbound destination. Furthermore, with the recent availability of online information searches to obtain the latest information and two-way communication in social media, it is possible to obtain up-to-date information on travel more quickly than before. The information in online media such as blogs can naturally create the Word-of-Mouth effect by sharing useful information, which is called eWOM. Like all other service industries, the tourism industry is characterized by difficulty in evaluating its values before it is experienced directly. And furthermore, most of the travelers tend to search for more information in advance from various sources to reduce the perceived risk to the destination, so they can also be influenced by online media such as online news. In this study, we suggested that the number of online media posting, which causes the effects of Word-of-Mouth, may have an effect on the number of outbound travelers. We divided online media into public media and private media according to their characteristics and selected online news as public media and blog as private media, one of the most popular social media in tourist information. Based on the previous studies about the eWOM effects on online news and blog, we analyzed a relationship between the volume of eWOM and the outbound tourism demand through the panel model. To this end, we collected data on the number of national outbound travelers from 2007 to 2015 provided by the Korea Tourism Organization. According to statistics, the highest number of outbound tourism demand in Korea are China, Japan, Thailand, Hong Kong and the Philippines, which are selected as a dependent variable in this study. In order to measure the volume of eWOM, we collected online news and blog postings for the same period as the number of outbound travelers in Naver, which is the largest portal site in South Korea. In this study, a panel model was established to analyze the effect of online media on the demand of Korean outbound travelers and to identify that there was a significant difference in the influence of online media by each time and countries. The results of this study can be summarized as follows. First, the impact of the online news and blog eWOM on the number of outbound travelers was significant. We found that the number of online news and blog posting have an influence on the number of outbound travelers, especially the experimental result suggests that both the month that includes the departure date and the three months before the departure were found to have an effect. It is shown that online news and blog are online media that have a significant influence on outbound tourism demand. Next, we found that the increased volume of eWOM in online news has a negative effect on departure, while the increase in a blog has a positive effect. The result with the country-specific models would be the same. This paper shows that online media can be used as a new variable in tourism demand by examining the influence of the eWOM effect of the online media. Also, we found that both social media and news media have an important role in predicting and managing the Korean tourism demand and that the influence of those two media appears different depending on the country.

Carbon Storage and Uptake by Deciduous Tree Species for Urban Landscape (도시 낙엽성 조경수종의 탄소저장 및 흡수)

  • Jo, Hyun-Kil;Ahn, Tae-Won
    • Journal of the Korean Institute of Landscape Architecture
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    • v.40 no.5
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    • pp.160-168
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    • 2012
  • This study generated regression models to estimate the carbon storage and uptake from the urban deciduous landscape trees through a direct harvesting method, and established essential information to quantify carbon reduction from urban greenspace. Tree species for the study included Acer palmatum, Zelkova serrata, Prunus yedoensis, and Ginkgo biloba, which are usually planted as urban landscape trees. Tree individuals for each species were sampled reflecting various diameter sizes at a given interval. The study measured biomass for each part including the roots of sample trees to compute the total carbon storage per tree. Annual carbon uptake per tree was quantified by analyzing radial growth rates of stem samples at breast height. The study then derived a regression model easily applicable in estimating carbon storage and uptake per tree for the 4 species by using diameter at breast height(dbh) as an independent variable. All the regression models showed high fitness with $r^2$ values of 0.94~0.99. Carbon storage and uptake per tree and their differences between diameter classes increased as the diameter sizes got larger. The carbon storage and uptake tended to be greatest with Zelkova serrata in the same diameter sizes, followed by Prunus yedoensis and Ginkgo biloba in order. A Zelkova serrata tree with 15cm in dbh stored about 54kg of carbon and annually sequestered 7 kg, based on a regression model for the species. The study has broken new grounds to overcome limitations of the past studies which substituted, due to a difficulty in direct cutting and root digging of urban landscape trees, coefficients from the forest trees such as biomass expansion factors, ratios of below ground/above ground biomass, and diameter growth rates. Study results can be useful as a tool or skill to evaluate carbon reduction by landscape trees in urban greenspace projects of the government.

Improvement of Shelf-life and Quality in Fresh-Cut Tomato Slices:

  • Hong Ji Heun
    • Proceedings of the Korean Society of Postharvest Science and Technology of Agricultural Products Conference
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    • 2004.10a
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    • pp.67-72
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    • 2004
  • Quality of fresh-cut tomato slices was compared during cold storage under various modified atmosphere packaging conditions. Chilling injury of slices in containers sealed with Film A was higher than with Film B; these films had oxygen transmission rates of 87.4 and 60.0 ml $h^{-1}\;m^{-2}\;atm^{-1}$ at $5^{\circ}C\;and\;99\%$ RH, respectively. While slices in containers with an initial atmospheric composition of air, $4\%\;CO_2+1\;or\;20\%\;O_2,\;8\%\;CO_2+1\;or\;20\%\;O_2,\;or\;12\%\;CO_2+20\%\;O_2$ showed fungal growth, slices in containers with $12\%\;CO_2+1\%\;O_2$ did not. Low ethylene in containers enhanced chilling injury. Modified atmosphere packaging provided good quality tomato slices with a shelf-life of 2 weeks or more at $5^{\circ}C$. Experiments were conducted to compare changes in quality of slices of red tomato (Lycopersicon esculentum Mill. 'Sunbeam') fruit from plants grown using black polyethylene or hairy vetch mulches under various foliar disease management systems including: no fungicide applications (NF), a disease forecasting model (Tom-Cast), and weekly fungicide applications (WF), during storage at $5^{\circ}C$ under a modified atmosphere. Slices were analyzed for firmness, soluble solids content (SSC), titratable acidity (TA), pH, electrolyte leakage, fungi, yeasts, and chilling injury. With both NF and Tom-Cast fungicide treatments, slices from tomato fruit grown with hairy vetch (Vicia villosa Roth) mulch were firmer than those from tomato fruit grown with black polyethylene mulch after 12 days storage. Ethylene production of slices from fruit grown using hairy vetch mulch under Tom-Cast was about 1.5- and 5-fold higher than that of slices from WF and NF fungicide treatments after 12 days, respectively. The percentage of water-soaked areas (chilling injury) for slices from tomato fruit grown using black polyethylene mulch under NF was over 7-fold that of slices from tomato fruit grown using hairy vetch under Tom-Cast. When stored at $20^{\circ}C$, slices from light-red tomato fruit grown with black polyethylene or hairy vetch mulches both showed a rapid increase in electrolyte leakage beginning 6 hours after slicing. However, slices from tomato fruit grown using the hairy vetch mulch tended to have lower electrolyte leakage than those grown with black polyethylene mulch. These results suggest that tomato fruit from plants grown using hairy vetch mulch may be more suitable for fresh-cut slices than those grown using black polyethylene mulch. Also, use of the disease forecasting model Tom-Cast, which can result in lower fungicide application than is currently used commercially, resulted in high quality fruit for fresh-cut processing. Experiments were conducted to determine if ethylene influences chilling injury, as measured by percentage of slices exhibiting water-soaked areas in fresh-cut tomato slices of 'Mountain Pride' and 'Sunbeam' tomato (Lycopersicon esculentum Mill.). Ethylene concentration in containers without ventilation significantly increased during storage at $5^{\circ}C$, whereas little or no accumulation of ethylene occurred in containers with one or six perforations. Chilling injury was greatest for slices in containers with six perforations, compared to slices in containers with one perforation, and was over 13-fold greater than that of slices in control containers with no perforations. An experiment was also performed to investigate the effectiveness of including an ethylene absorbent pad in containers on subsequent ethylene accumulation and chilling injury. While ethylene in the no-pad controls increased continually during storage of both 'Mountain Pride' and 'Sunbeam' tomatoes at $5^{\circ}C$ under modified atmosphere conditions, no increase in accumulation of ethylene was observed in containers containing ethylene absorbent pads throughout storage. The ethylene absorbent pad treatment resulted in a significantly higher percentage of chilling injury compared with the no-pad control. In studies aimed at inhibiting ethylene production using AVG during storage of slices, the concentration of ethylene in control containers (no AVG) remained at elevated levels throughout storage, compared to containers with slices treated with AVG. Chilling injury in slices treated with AVG was 5-fold greater than that of controls. Further, we tested the effect of ethylene pretreatment of slices on subsequent slice shelf-life and quality. In slices treated with ethylene (0, 0.1, 1, or $10\;{mu}L\;L^{-1}$) immediately after slicing, ethylene production in non-treated controls was greater than that of all other ethylene pre-treatments. However, pretreatment of slices 3 days after slicing resulted in a different pattern of ethylene production during storage. Ihe rate of ethylene production by slices treated with 1 L $L^{-1}$ ethylene 3 days after slicing was greater during storage than any of the other ethylene treatments. With slices pre-treated with ethylene, both immediately and 3 days after slicing, the rate of ethylene production tended to show an negative correlation with chilling injury. Chemical name used: 1-aminoethoxyvinylglycine (AVG).

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Stabilization and Release Behavior of W1/O/W2-Type Multiple Emulsions Using Various Block Copolymer Emulsifier and Stabilizer (다양한 Block Copolymer를 유화제 및 안정화제로 사용한 W1/O/W2-Type 다중에멀젼의 방출거동 및 안정성)

  • Haw, Jung-Rim;Kim, Cheol-Hun
    • Applied Chemistry for Engineering
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    • v.8 no.4
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    • pp.560-567
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    • 1997
  • A new approach to obtain stable $W_1/O/W_2$ multiple emulsions has been studied ; The basis of the interfacial interaction between a PCL-PEO-PCL triblock copolymer and a lipophilic emulsifier in the dispersed oil phase was examined. $W_1/O/W_2$ multiple emulsions were prepared by the two-step method. Arlacel P-l35 was used as a liphophilic emulsifier and Synperonic PE/F 127 as a hydrophilic one. Eutanol-G was used as an oil phase. NaCl was encapsulated within the multiple emulsion droplets as the internal marker and its release rate studies were carried out. The suability of the multiple emulsions have been assessed by measuring Separation Ratios(%) and microscopic observations. The release of NaCl was significantly reduced in $W_1/O/W_2$ multiple emulsions containing PCL-PEO-PCL triblock copolymer(2k-4k-2k or 6k-4k-6k) in the oil phase. It may be concluded that the copolymer and the emulsifier form effective interfacial complex to enhance stability and to control the release rate. The effective diffusion coefficients of the NaCl were estimated as $2.64{\times}10^{-15}s$and $3.23{\times}10^{-16}gcm^2/s$ for the $W_1/O/W_2$ multiple emulsion containing 1.2 wt % of PCL-PEO-PCL triblock copolymers with compositions of 2k-4k-2k and 6k-4k-2k, respectively. The rate of release decreased with the increase of the initial concentration of NaCl. The results were examined in view of Higuchi mechanism. A kinetic model which is similar to the model for release of dispersed drugs from a polymeric matrix was found to be suitable for the release of NaCl from $W_1/O/W_2$ multiple emulsions.

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The Effects of Nuclear Factor-κB Decoy Oligodeoxynucleotide on Lipopolysaccharide-Induced Direct Acute Lung Injury (리포다당질로 인한 직접성 급성폐손상에서 Nuclear Factor-κB Decoy Oligodeoxynucleotide의 효과)

  • Kim, Je Hyeong;Yoon, Dae Wui;Jung, Ki Hwan;Kim, Hye Ok;Ha, Eun Sil;Lee, Kyoung Ju;Hur, Gyu Young;Lee, Sung Yong;Lee, Sang Yeub;Shin, Chol;Shim, Jae Jeong;In, Kwang Ho;Yoo, Se Hwa;Kang, Kyung Ho
    • Tuberculosis and Respiratory Diseases
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    • v.67 no.2
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    • pp.95-104
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    • 2009
  • Background: The pathophysiologic mechanisms of early acute lung injury (ALI) differ according to the type of primary insult. It is important to differentiate between direct and indirect pathophysiologic pathways, and this may influence the approach to treatment strategies. NF-$\kappa$B decoy oligodeoxynucleotide (ODN) is a useful tool for the blockade of the expression of NF-$\kappa$B-dependent proinflammatory mediators and has been reported to be effective in indirect ALI. The purpose of this study was to investigate the effect of NF-$\kappa$B decoy ODN in the lipopolysaccharide (LPS)-induced direct ALI model. Methods: Five-week-old specific pathogen-free male BALB/c mice were used for the experiment. In the preliminary studies, tumor necrosis factor (TNF)-$\alpha$, interleukine (IL)-6 and NF-$\kappa$B activity peaked at 6 hours after LPS administration. Myeloperoxidase (MPO) activity and ALI score were highest at 36 and 48 hours, respectively. Therefore, it was decided to measure each parameter at the time of its highest level. The study mice were randomly divided into three experimental groups: (1) control group which was administered 50 ${\mu}L$ of saline and treated with intratracheal administration of 200 ${\mu}L$ DW containing only hemagglutinating virus of Japan (HVJ) vector (n=24); (2) LPS group in which LPS-induced ALI mice were treated with intratracheal administration of 200 ${\mu}L$ DW containing only HVJ vector (n=24); (3) LPS+ODN group in which LPS-induced ALI mice were treated with intratracheal administration of 200 ${\mu}L$ DW containing 160 ${\mu}g$ of NF-$\kappa$B decoy ODN and HVJ vector (n=24). Each group was subdivided into four experimental subgroups: (1) tissue subgroup for histopathological examination for ALI at 48 hours (n=6); (2) 6-hour bronchoalveolar lavage (BAL) subgroup for measurement of TNF-$\alpha$ and IL-6 in BAL fluid (BALF) (n=6); (3) 36-hour BAL subgroup for MPO activity assays in BALF (n=6); and (4) tissue homogenate subgroup for measurement of NF-$\kappa$B activity in lung tissue homogenates at 6 hours (n=6). Results: NF-$\kappa$B decoy ODN treatment significantly decreased NF-$\kappa$B activity in lung tissues. However, it failed to improve the parameters of LPS-induced direct ALI, including the concentrations of tumor necrosis factor-$\alpha$ and interleukin-6 in BALF, myeloperoxidase activity in BALF and histopathologic changes measured by the ALI score. Conclusion: NF-$\kappa$B decoy ODN, which has been proven to be effective in indirect models, had no effect in the direct ALI model.

Organizational Factors Facilitating the Internationalization of Korean Franchising Companies (해외진출 국내 프랜차이즈기업의 조직특성)

  • Lim, Young-Kun;Lee, Dong-Whuy;Kim, Hee-Jung
    • Journal of Global Scholars of Marketing Science
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    • v.19 no.2
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    • pp.40-52
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    • 2009
  • Franchising is one of the fastest growing types of business. It is already popular and well-known in the U.S., and has been growing in many other countries including Korea. Furthermore, many Korean franchising companies have expanded their business overseas actively. According to the data by the Ministry of Industry and Resource, 82 companies out of a sample of 500 franchising companies are already operating in many foreign countries and 48% of them have started their foreign business since 2006. This clearly indicates the fast growing current trend of foreign operation by Korean franchising companies. In spite of the fast growing trend of foreign expansion in the industry, academic research on internationalization of franchising companies is extremely difficult to find. Accordingly, academic research on the issue is necessary and urgent in Korea. Among the various research questions on internationalization of franchising business, this study intends to investigate the difference in organizational factors between the franchising companies doing foreign operation and those doing business only domestically. More specifically, this research has the following purposes. First, considering the lack of theoretical basis of previous studies, resource-based theory and agency theory are employed as the theoretical bases. Second, this study explains the difference in internationalization based on organizational factors such as company size, history and growth rate. Third, the five hypotheses regarding the difference in organizational factors are presented and tested empirically, which is the first attempt in the area of this topic. Finally, the study attempts to clarify the conflicting implications among theories regarding some organizational factos such as growth rate. As the theoretical background, resource-based theory and agency theory are discussed. According to resource-based theory, a firm can grow continuously when it has competence and resource, and also the ability to develop them. The competence and resource can include capital, human resource, management skill, market information, ability to manage risk, etc. Meanwhile, agency theory views the relationship between franchisor and franchisee as an agency relationship. In agency theory, bonding capability and monitoring capability are the two key factors which promote internationalization of franchising companies. Based on the two theories, a conceptual model is designed. The model consists of two groups of variables. One is organizational factors including size, history, growth rate, price bonding and geographic dispersion. The other is whether a franchising company is operating overseas or not. We developed the following five research hypotheses basically describing the relationship between organizational factors and internationalization of franchising companies. H1: The size of franchising companies operating overseas is larger than that of franchising companies operating domestically. H2: The history of franchising companies operating overseas is longer than that of franchising companies operating domestically. H3: The growth rate of franchising companies operating overseas is higher than that of franchising companies operating domestically. H4: The price bonding of franchising companies operating overseas is higher than that of franchising companies operating domestically. H5: The geographic dispersion of franchising companies operating overseas is wider than that of franchising companies operating domestically. Data for the analyses are obtained from 2005 Korea Franchise Survey data co-generated by Ministry of Industry and Resource, GS1 Korea, and Korea Franchise Association. Out of 2,804 population companies, 2,489 companies are excluded for various reasons and 315 companies are selected as the final sample. Prior to hypotheses tests, validity and reliability of the measures of size, history, growth rate and price bonding are examined for further analyses. Geographic dispersion is not validated since it is measured using nominal data. A series of independent sample T-tests is used to find out whether there exists any significant difference between the companies internationalized and those operating only domestically for each organizational factor. Among the five factors, size and geographic dispersion show significant difference, growth rate and price bonding do not reveal any difference and, finally, history factor shows conflicting results in the difference depending on how to measure it.

    shows the summary statistics for hypotheses testing. In conclusion, the results show that the size and history, which are the key variables in resource-based theory, have a significant relationship with internationalization and that geographic area, which belongs to agency theory, also has a strong relationship with internationalization. The results support the findings of extant research and, therefore, prove the usefulness of resource-based theory and agency theory in explaining internationalization of franchising companies. However, growth rate and price-bonding do not show a clear difference between the two types of companies. Accordingly, these two factors need further attention in the future research. Although this study shows meaningful findings theoretically and practically, it has several limitations. First, only organizational factors are considered even if there are various environmental factors influencing franchising firm's internationalization. Second, only being internationalized or not is considered. That is, modes of entry and the size of foreign operations are not included in the study. Third, internationalization strategy is often determined based on the desire for business expansion and higher profitability and egoistical reasons of the CEOs. However, this type of factors belonging to behavioral science is not discussed in the study. Finally, organizational ecology perspective is usefully applicable in explaining the survival and performance of internationally operating companies. Accordingly, research propositions based on this perspective need to be developed and tested.

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