• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.4 no.4
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• pp.45-70
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• 2009

This article investigates which types of the strategies announced by the listed firms contribute to enhancing the long-term performance of the companies. Since 2002, Korean Exchange adopted the "faire disclosure policy" which mandates that all publicly traded companies must disclose material information to all investors at the same time. Thanks to the policy, Korean investors can, now, easily access the board's decision on management strategies on the same day the decision is made. If the companies trustfully carry out their announced strategies, we can decide which types of strategies actually enhance or deteriorate the long-term performance, simply by comparing the announced strategies and the firm's performance. The sample companies are confined to 60 firms that became listed in the KOSDAQ market through back-door listing from 2003 to 2005. Using only the newly listed companies, we can avoid the interference on the long-term performance of the strategies pursued before the event date. This often holds true, for many companies radically modify their strategies after the listing. Furthermore, the back-door listing companies serve our purpose better than IPO companies do, because the former tend to have a variety of announcement within a given period of time beginning the listing date. Using these sample companies, this article analyzes the effect on one year buy-and-hold returns and abnormal buy-and-hold returns after the listing of the various types of strategies announced during the same period of time. The results show that those evidences of restructuring such as 'reduction of capital' and 'resignation of incumbent board members', actually contribute to the increase in adjusted long-term stock returns. Those strategies which can be view as evidence of new investment such as 'increase in tangible assets', 'acquisition of other companies', do also helps the stockholders better off. On the contrary, 'increase in bank loans', 'changes of CEO' and 'merger' deteriorate the equity value. The last findings let us to presume that the back-door listing companies appear to use the bank loans for value-reducing activities; the change in CEO is not a sign of restructuring, but rather a sign of failure of the restructuring; another merger carried out after back-door listing itself is also value-reducing activity. This article's findings on reduction of capital, merger and bank loans oppose the results of the former empirical studies which analyze only the short-term effect on stock price. Therefore, more long-term performance studies on public disclosures are in order.

• Journal of Animal Science and Technology
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• v.51 no.5
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• pp.395-406
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• 2009

Fifty four Hanwoo steers in final fattening period were assigned to 3 groups control, top dressed $PROSOL^{(R)}$ as an emulsifier (TP) and DSP group (experimental diet made to down spec of nutrients with $PROSOL^{(R)}$, which is sodium stearoyl-2-lactylate), based on the body weight (647.96${\pm}$41.31 kg) and months of age (27.3${\pm}$0.8 mo), and the experiment was conducted to establish the reasonable fattening method of Hanwoo steers for 91 days. Average daily body gains during trial were 0.94, 0.84 and 0.98 kg in control, TP and DSP, respectively (P=0.011). DDMI/ADG of TP group tend to lightly improving compared to control and DSP group (P=0.692). There was no effect of supplementation of the $PROSOL^{(R)}$ in concentrates on growth rate, feed efficiency and shrinkage in Hanwoo steers during the short final fattening period. MQI from TP and DSP was not different based on the rib-eye area and carcass weight in carcass than that from control. Back fat thickness tended to be thicker than control (P>0.05). Marbling score, texture and maturity for TP and DSP was abundantly to increase compared to control (P<0.003). There was significantly increment in supplemented $PROSOL^{(R)}$ (P<0.0001). The meat quality grade of control, TP and DSP were 2.94, 3.78 and 4.50, respectively. Related to this result, the auction price (carcass/kg) were gained significantly (P<0.003) from control (17,560), TP (18,586) and DSP (19,266 won) so which the monetary return was the highest in DSP and the differences was recognized between TP and DSP. Percentage over 1st grade appeared in control, TP and DSP were 55.4, 88.9 and 100.0%, respectively. These results supported the hypothesis that supplementation of emulsifier improve the marbling score and the carcass quality grade by increased digestibilities of the feed fat in Hanwoo steers in fattening period.

• Korean Journal of Soil Science and Fertilizer
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• v.15 no.1
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• pp.2-15
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• 1982

In this report, a total domestic demand for major commercial fertilizer for crop production in Korea up to 1996 was estimated. The agricultural products and area for demand for both 1982 and 1986 was quoted from the estimate of the 5th Five-year Economic plan. And the demands estimated for 1991 and 1996 reflected possible changes of diet from cereal to meat and their indirect effects on the increase of cereal consumption. As the advanced countries followed, consequently, the demands for soybean, corn and other feed grains were expected to be increased as well as the land for growing those crops. 1. Total annual demands for nitrogen, phosphorus and potassium fertilizers were estimated 1,050,000M/T, 1,110,000M/T, 1,280,000M/T and 1,010,000M/T for the year 1982, 1986, 1991, and 1996 respectively. 2. It was assumed that there would be difficulties in self-sufficiency of grains at the cost of the maximum utilization of land and fertilizers in 1996. 3. It was clear that the increase of the productivity per unit area is possible by improving the conditions of arable land which could resulted a self-sufficiency of food in Korea. As a consequence, the demand for fertilizers at that time would exceed the level of estimates. 4. The recent decrease in demand for commercial fertilizers (currently estimated 850,000M/T) was due to an inadequate application of fertilizers for respective crop reqirement. This inadequacy should be checked and encouraged the consumptions of fertilizers to be increased by supporting the price of grain.

• Journal of Korean Society of Transportation
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• v.23 no.3 s.81
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• pp.95-108
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• 2005

The purpose of this study is to develop the ITS evaluation model using the Probabilistic Risk Analysis (PRA) methodology and to demonstrate the goodness-of-fit of the large ITS projects through the comparative analysis between DEA and PRA model. The results of this study are summarized below. First, the evaluation mode] using PRA with Monte-Carlo Simulation(MCS) and Latin-Hypercube Sampling(LHS) is developed and applied to one of ITS projects initiated by local government. The risk factors are categorized with cost, benefit and social-economic factors. Then, PDF(Probability Density Function) parameters of these factors are estimated. The log-normal distribution, beta distribution and triangular distribution are well fitted with the market and delivered price. The triangular and uniform distributions are valid in benefit data from the simulation analysis based on the several deployment scenarios. Second, the decision making rules for the risk analysis of projects for cost and economic feasibility study are suggested. The developed PRA model is applied for the Daejeon metropolitan ITS model deployment project to validate the model. The results of cost analysis shows that Deterministic Project Cost(DPC), Deterministic Total Project Cost(DTPC) is the biased percentile values of CDF produced by PRA model and this project need Contingency Budget(CB) because these values are turned out to be less than Target Value(TV;85% value), Also, this project has high risk of DTPC and DPC because the coefficient of variation(C.V) of DTPC and DPC are 4 and 15 which are less than that of DTPC(19-28) and DPC(22-107) in construction and transportation projects. The results of economic analysis shows that total system and subsystem of this project is in type II, which means the project is economically feasible with high risk. Third, the goodness-of-fit of PRA model is verified by comparing the differences of the results between PRA and DEA model. The difference of evaluation indices is up to 68% in maximum. Because of this, the deployment priority of ITS subsystems are changed in each mode1. In results. ITS evaluation model using PRA considering the project risk with the probability distribution is superior to DEA. It makes proper decision making and the risk factors estimated by PRA model can be controlled by risk management program suggested in this paper. Further research not only to build the database of deployment data but also to develop the methodologies estimating the ITS effects with PRA model is needed to broaden the usage of PRA model for the evaluation of ITS projects.

• KOREAN JOURNAL OF CROP SCIENCE
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• v.55 no.1
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• pp.24-30
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• 2010

Comprehensive studies on seedling production and transplanting cultivation of waxy corn are necessary to fulfill the comsumer's preference for the high quality whole ear waxy corn and its year-round supply for higher price, and to escape marketing in a short period at harvest season. Two waxy corn hybrids (cv. Chalok# 1 and Chalok# 4) were used to study the effects of seeding date, nursery days and plug cell size on growth and yield of waxy corn, and to clarify the reliable transplanting date at the Experimental Field of the National Institute of Crop Science in 2007. The number of days from seeding to silking was increased as nursery days were extended, but the number of days from transplanting to silking was shortened comparing to the direct seeding. Number of days from seeding to silking was shorter by 9~12 days for Chalok# 1 than for Chalok# 4, while the number of days from seeding to silking was shorter by 12~15 days in the second cropping than in the first cropping. Culm length of transplanted waxy corns was decreased as the nursery days were extended. Culm length of seeded Chaok# 1 and Chaok# 4 were decreased by 17% and 24%, respectively, in the second cropping compared to those in the first cropping. Ear length was somewhat decreased as the nursery days were extended. Chalok# 1 in the second cropping the degree of decrease was much higher in second cropping than in first cropping of Chalok# 1. Comparing to the first cropping, number of marketable ears per 10a of Chalok# 1 decreased as high as 64%, while that of seeded Chalok# 4 decreased mere 12% in the second cropping.

• Journal of Intelligence and Information Systems
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• v.22 no.4
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• pp.45-67
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• 2016

Given the recent development of smart devices, users are producing, sharing, and acquiring a variety of information via the Internet and social network services (SNSs). Because users tend to use multiple media simultaneously according to their goals and preferences, domestic SNS users use around 2.09 media concurrently on average. Since the information provided by such media is usually textually represented, recent studies have been actively conducting textual analysis in order to understand users more deeply. Earlier studies using textual analysis focused on analyzing a document's contents without substantive consideration of the diverse characteristics of the source medium. However, current studies argue that analytical and interpretive approaches should be applied differently according to the characteristics of a document's source. Documents can be classified into the following types: informative documents for delivering information, expressive documents for expressing emotions and aesthetics, operational documents for inducing the recipient's behavior, and audiovisual media documents for supplementing the above three functions through images and music. Further, documents can be classified according to their contents, which comprise facts, concepts, procedures, principles, rules, stories, opinions, and descriptions. Documents have unique characteristics according to the source media by which they are distributed. In terms of newspapers, only highly trained people tend to write articles for public dissemination. In contrast, with SNSs, various types of users can freely write any message and such messages are distributed in an unpredictable way. Again, in the case of newspapers, each article exists independently and does not tend to have any relation to other articles. However, messages (original tweets) on Twitter, for example, are highly organized and regularly duplicated and repeated through replies and retweets. There have been many studies focusing on the different characteristics between newspapers and SNSs. However, it is difficult to find a study that focuses on the difference between the two media from the perspective of supply and demand. We can regard the articles of newspapers as a kind of information supply, whereas messages on various SNSs represent a demand for information. By investigating traditional newspapers and SNSs from the perspective of supply and demand of information, we can explore and explain the information dilemma more clearly. For example, there may be superfluous issues that are heavily reported in newspaper articles despite the fact that users seldom have much interest in these issues. Such overproduced information is not only a waste of media resources but also makes it difficult to find valuable, in-demand information. Further, some issues that are covered by only a few newspapers may be of high interest to SNS users. To alleviate the deleterious effects of information asymmetries, it is necessary to analyze the supply and demand of each information source and, accordingly, provide information flexibly. Such an approach would allow the value of information to be explored and approximated on the basis of the supply-demand balance. Conceptually, this is very similar to the price of goods or services being determined by the supply-demand relationship. Adopting this concept, media companies could focus on the production of highly in-demand issues that are in short supply. In this study, we selected Internet news sites and Twitter as representative media for investigating information supply and demand, respectively. We present the notion of News Value Index (NVI), which evaluates the value of news information in terms of the magnitude of Twitter messages associated with it. In addition, we visualize the change of information value over time using the NVI. We conducted an analysis using 387,014 news articles and 31,674,795 Twitter messages. The analysis results revealed interesting patterns: most issues show lower NVI than average of the whole issue, whereas a few issues show steadily higher NVI than the average.

• Journal of the East Asian Society of Dietary Life
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• v.18 no.5
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• pp.692-701
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• 2008

This study was conducted with 150 adults of 20 years or older, all of whom lived in Seoul. The awareness of traditional Hangwa (Korean cookies) was shown to be relatively low, with 2.9 points on average, and the intake of traditional Hangwa for a month was 2.1 times. For the reason that traditional Hangwa couldn't become popular, and the opinion that the reason was because the price is expensive was the highest, at 3.8. The next highest reasons given were because it is difficult to buy, and because it is inconvenient to eat, at 3.0. The traditional Hangwa was shown to enjoy positive awareness as opposed to negative awareness, while the manufacturing sanitation was also recognized to be relatively clean, with 2.6 points assigned to the opinion that it doesn't taste good, and 2.7 points assigned to the opinion that the manufacturing sanitation is unclean. With regard to the excellence of traditional Hangwa, the response that 'our tradition can be handed down' was the most often encountered, with a score of 3.9. The traditional Hangwa was appraised as excellent, with 3.6 points assigned to the opinion 'it suits our body because it is made with our agricultural products' and 3.4% for each opinion 'safe ingredients are used' and 'all ingredients are good for health'. With regard to the level of agreement for the development of functional traditional Hangwa, the positive group was higher than 25.3% of the negative group, with 27.3% for 'agree very much' and 22.0% for 'agree'. When converted into a 5-point scale for the development of functional traditional Hangwa, the group that was positive toward its development was high, with 3.4 points on average. All categories of excellence awareness were correlated with the level of agreement for the development of a functional food product (p<0.001). Consumer awareness toward the addition of traditional Hangwa functionality was generally positive, with 3.3 points or higher on average, and awareness of the aging suppression and diabetes control effects of Hangwa was also high, with 3.5 points. Next were Hangwa for diet, Hangwa for blood pressure control, Hangwa for mineral supple-mentation and vitamin additive-type Hangwa, with 3.4 for each, and Hangwa for health preservation, with 3.3 in order. With regard to the degree of interest toward functional traditional Hangwa for the treatment of diseases, obese patients cited aging suppression, at 3.2, and vitamin additive Hangwa, at 3.0, while Hangwa for dieting was assigned 2.8 points. Patients with high blood pressure, blood circulation, and diabetes were all shown as having a high degree of interest in all items, while evidencing particular interest toward Hangwa for diabetes control and Hangwa for blood pressure control. With regard to intention to purchase while developing functional traditional Hangwa, the group asserting intention to purchase was higher than 60% for all items except for Hangwa for diabetes control (58.7%). The Hangwa for aging suppression was highest, at 68.6%, and shown as having intention to purchase during development in the order of vitamin additive Hangwa at 68.0%, Hangwa for mineral supplementation at 64.6%, each of Hangwa for health preservation and Hangwa for blood pressure control at 62.7%, Hangwa for diet at 62.6% and Hangwa for diabetes control at 58.7%. The considerations during the development of functional traditional Hangwa were in the following order: storage at 4.1 points, taste and level of function at 3.9 points, size at 3.5 points, and packing at 3.4 points.

• Korean Journal of Optics and Photonics
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• v.21 no.2
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• pp.82-88
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• 2010

Photopolymer is a material for recording three dimensional holograms containing photo information. Photopolymer has been found to be a proper material due to many advantages such as high DE value, easy processing, and low price. Compositions of PVA, monomer, initiater and photosensitizer were determined by previous experiments and the compositions of $SeO_2$ and $TiO_2$ were considered as variable to find out the effects of $TiO_2$ on DE. The DE values were constant for the varying compositions of $TiO_2$ (0.1 mg~1.0 mg). In other words, $TiO_2$ is not directly effective on the DE values. Composition change experiments from $SeO_2$ 0.1 mg, $TiO_2$ 0.9 mg to $SeO_2$ 0.9 mg, $TiO_2$ 0.1 showed a maximum DE value of 73.75% at a component of $SeO_2$ 0.8 mg, $TiO_2$ 0.2 mg. It seemed that regardless of the amount of $TiO_2$, increasing the amount of $SeO_2$ gently increases DE`s. If nano particles are heavily added, transparent films could not be made due to the separation of particles by the solubility decrease. Photopolymer films could be made with high DE values for an extensive angle range if $TiO_2$ additions were kept minimum and $SeO_2$ additions were kept maximum.

• Korean journal of food and cookery science
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• v.25 no.4
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• pp.395-405
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• 2009

In this study, a survey was conducted to determine consumer perceptions and satisfaction for onion hot-water extracts. Among the study subjects, females (53.3%) were in greater number than males, and individuals in their 40s (35.1%) made up the largest group. Cocerning the detailed efficacy of onion hot-water extracts, most respondents (84.5%) were aware of their efficacy and females recognized this more than males (p<0.001). Most consumers (67.3%) purchased onion hot-water extracts from 'health food stores prepared using a double boiler', and many consumers (47.4%) received information on the extracts from families and relatives. Of the respondents, 51.8% said they purchased 'quantities for $1{\sim}3$ months' at one time, and 33.1% stated that the price of onion hot-water extracts was expensive. They considered 'health' the most important aspect when purchasing, and preferred 'pouch packs' (60.3%) and considered 'easiness to open convenience to drink, and safety' (42.0%) the most important product features. Also, 62.8% of the respondents consumed onion hot-water extracts, and many drank them $1{\sim}3$ times a week, with '70 mL' as one dose, and drank them 'regardless of time'. The consumers were satisfied with the listing of health effects, but were not satisfied with the 'taste', 'smell', or 'color' of products. Concerning advertisements for the efficacy of onion hot-water extracts, 72.5% replied 'I trust them a little'. And concerning the expanding onion hot-water extract market, many respondents said it is difficult to choose an onion hot-water extract due to many similar products at the market. They also requested improvements of taste and flavor.

• Journal of agriculture & life science
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• v.46 no.6
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• pp.117-126
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• 2012

This study carried out on the manufacturing of pidan. The production of pidan can be one of solutions for over-produced eggs and stable egg price. For the alkali-pickling solution for manufacturing of Pidan, the tested concentration of NaOH and NaCl were respectively as 3, 5, 7% and 5, 10, 15, 20%, and examined every 2 days for 14days. According to the results, pH value of alkali-pickling solution was increased by the increment of NaOH concentration and the pickling period, and was decreased by the increment of NaCl concentration. The pH value of egg yolk was increased by the increment of NaOH concentration, but it was not significantly different by the NaCl concentration. By the increment of NaOH and NaCl concentrations, the alkali infiltration in egg yolk and egg white was accelerated. Furthermore, the weight change of the eggs in the alkali-solution has no effects on manufacturing of Pidan. Liquefied albumen showed significant differences by NaOH concentration rather than that of NaCl. There was no liquefied albumen for 14days at 3% of NaOH, but it was found between 11-12days at 5% and 8-10days at 7%, respectively. The pH values of egg white when it was liquefied albumen were between 11.8 and 12.0. Pidan was made by heat treatment after 6-7days dipped in the solution at the concentration of 7%, about 10days at 5%, and 12-14days at 3% of NaOH, respectively. Although, the period of manufacturing of Pidan was saved by the increment of NaOH concentration, liquefied albumen was accelerated and the food preference was decreased by ammonia odor. Therefore, the suitable concentration of NaOH is between 3 and 5%, and that of NaCl is between 5 and 10% due to the effect of salinity by the soaking period. Through this study, optimal pickling solution and dipping time for manufacturing of Pidan was figured out, and also find out that it can save a time about 15days for manufacturing of Pidan.