• Journal of Distribution Research
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• v.17 no.1
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• pp.37-63
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• 2012

In franchise business, exclusive sales territory (sometimes EST in table) protection is a very important issue from an economic, social and political point of view. It affects the growth and survival of both franchisor and franchisee and often raises issues of social and political conflicts. When franchisee is not familiar with related laws and regulations, franchisor has high chance to utilize it. Exclusive sales territory protection by the manufacturer and distributors (wholesalers or retailers) means sales area restriction by which only certain distributors have right to sell products or services. The distributor, who has been granted exclusive sales territories, can protect its own territory, whereas he may be prohibited from entering in other regions. Even though exclusive sales territory is a quite critical problem in franchise business, there is not much rigorous research about the reason, results, evaluation, and future direction based on empirical data. This paper tries to address this problem not only from logical and nomological validity, but from empirical validation. While we purse an empirical analysis, we take into account the difficulties of real data collection and statistical analysis techniques. We use a set of disclosure document data collected by Korea Fair Trade Commission, instead of conventional survey method which is usually criticized for its measurement error. Existing theories about exclusive sales territory can be summarized into two groups as shown in the table below. The first one is about the effectiveness of exclusive sales territory from both franchisor and franchisee point of view. In fact, output of exclusive sales territory can be positive for franchisors but negative for franchisees. Also, it can be positive in terms of sales but negative in terms of profit. Therefore, variables and viewpoints should be set properly. The other one is about the motive or reason why exclusive sales territory is protected. The reasons can be classified into four groups - industry characteristics, franchise systems characteristics, capability to maintain exclusive sales territory, and strategic decision. Within four groups of reasons, there are more specific variables and theories as below. Based on these theories, we develop nine hypotheses which are briefly shown in the last table below with the results. In order to validate the hypothesis, data is collected from government (FTC) homepage which is open source. The sample consists of 1,896 franchisors and it contains about three year operation data, from 2006 to 2008. Within the samples, 627 have exclusive sales territory protection policy and the one with exclusive sales territory policy is not evenly distributed over 19 representative industries. Additional data are also collected from another government agency homepage, like Statistics Korea. Also, we combine data from various secondary sources to create meaningful variables as shown in the table below. All variables are dichotomized by mean or median split if they are not inherently dichotomized by its definition, since each hypothesis is composed by multiple variables and there is no solid statistical technique to incorporate all these conditions to test the hypotheses. This paper uses a simple chi-square test because hypotheses and theories are built upon quite specific conditions such as industry type, economic condition, company history and various strategic purposes. It is almost impossible to find all those samples to satisfy them and it can't be manipulated in experimental settings. However, more advanced statistical techniques are very good on clean data without exogenous variables, but not good with real complex data. The chi-square test is applied in a way that samples are grouped into four with two criteria, whether they use exclusive sales territory protection or not, and whether they satisfy conditions of each hypothesis. So the proportion of sample franchisors which satisfy conditions and protect exclusive sales territory, does significantly exceed the proportion of samples that satisfy condition and do not protect. In fact, chi-square test is equivalent with the Poisson regression which allows more flexible application. As results, only three hypotheses are accepted. When attitude toward the risk is high so loyalty fee is determined according to sales performance, EST protection makes poor results as expected. And when franchisor protects EST in order to recruit franchisee easily, EST protection makes better results. Also, when EST protection is to improve the efficiency of franchise system as a whole, it shows better performances. High efficiency is achieved as EST prohibits the free riding of franchisee who exploits other's marketing efforts, and it encourages proper investments and distributes franchisee into multiple regions evenly. Other hypotheses are not supported in the results of significance testing. Exclusive sales territory should be protected from proper motives and administered for mutual benefits. Legal restrictions driven by the government agency like FTC could be misused and cause mis-understandings. So there need more careful monitoring on real practices and more rigorous studies by both academicians and practitioners.

• The Korean Journal of Financial Management
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• v.8 no.1
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• pp.179-197
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• 1991

선도환의 가격을 결정하는 접근방법에는 2차자산(derivative assets)이라는 선도계약의 기본특성에 기초한 재정거래(arbitrage)에 의한 방법이 가장 많이 이용되고 있다. 재정거래방식에는 선도환과 현물외환가격간의 상호관련성에 의하여 선도환가격을 이자율평가설(covered interest rate parity : CIRP), 즉 현물가격과 양국간의 이자율차이의 합으로 표시하고 있다. 특히 현물가격과 이자율은 모두 현재시점에서 의사결정자에게 알려져 있기때문에 선도환가격은 확실성하에서 결정되어 미래에 대한 예측이나 투자자의 위험회피도와는 관계없이 결정된다는 것이 특징이다. 이자율평가설에 관한 많은 실증연구는 거래 비용을 고려한 경우 현실적으로 적절하다고 보고 있다(Frenkel and Levich ; 1975, 1977). 다른 방법으로는 선도환의 미래예측기능에만 촛점을 맞추어 가격결정을 하는 투기, 예측접근방법(speculative efficiency approach : 이하에서는 SEA라 함)이 있다. 이 방법 중에서 가장 단순한 형태로 표시된 가설, 즉 '선도환가격은 미래기대현물가격과 같다'는 가설은 대부분의 실증분석에서 기각되고 있다. 이에 따라 SEA에서는 선도환가격이 미래에 대한 기대치뿐만 아니라 위험프리미엄까지 함께 포함하고 있다는 새로운 가설을 설정하고 이에 대한 실증분석을 진행한다. 이 가설은 이론적 모형에서 출발한 것이 아니기 때문에, 특히 기대치와 위험프레미엄 모두가 측정 불가능하다는 점으로 인하여 실증분석상 많은 어려움을 겪게 된다. 이러한 어려움을 피하기 위하여 많은 연구에서는 이자율평가설을 이용하여 선도환가격에 포함된 위험프레미엄에 대해 추론 내지 그 행태를 설명하려고 한다. 이자율평가설을 이용하여 분석모형을 설정하고 실증분석을 하는 것은 몇가지 근본적인 문제점을 내포하고 있다. 먼저, 앞서 지적한 바와 같이 이자율평가설을 가정한다는 것은 SEA에서 주된 관심이 되는 미래예측이나 위험프레미엄과는 관계없이 선도가격이 결정 된다는 것을 의미한다. 따라서 이자율평가설을 가정하여 설정된 분석모형은 선도환시장의 효율성이나 균형가격결정에 대한 시사점을 제공할 수 없다는 것을 의미한다. 즉, 가정한 시장효율성을 실증분석을 통하여 다시 검증하려는 것과 같다. 이러한 개념적 차원에서의 문제점 이외에도 실증분석에서의 추정상의 문제점 또한 존재한다. 대부분의 연구들이 현물자산의 균형가격결정모형에 이자율평가설을 추가로 결합하기 때문에 이러한 방법으로 설정한 분석모형은 그 기초가 되는 현물가격모형과는 달리 자의적 조작이 가능한 형태로 나타나며 이를 이용한 모수의 추정은 불필요한 편기(bias)를 가지게 된다. 본 연구에서는 이러한 실증분석상의 편기에 관한 문제점이 명확하고 구체적으로 나타나는 Mark(1985)의 실증연구를 재분석하고 실증자료를 통하여 위험회피도의 추정치에 편기가 발생하는 근본원인이 이자율평가설을 부적절하게 사용하는데 있다는 것을 확인 하고자 한다. 실증분석결과는 본문의 <표 1>에 제시되어 있으며 그 내용을 간략하게 요약하면 다음과 같다. (A) 실증분석모형 : 본 연구에서는 다기간 자산가격결정모형중에서 대표적인 Lucas (1978)모형을 직접 사용한다. $$1={\beta}\;E_t[\frac{U'(C_{t+1})\;P_t\;s_{t+1}}{U'(C_t)\;P_{t+1}\;s_t}]$$ (2) $U'(c_t)$와 $P_t$는 t시점에서의 소비에 대한 한계효용과 소비재의 가격을, $s_t$와 $f_t$는 외환의 현물과 선도가격을, $E_t$와 ${\beta}$는 조건부 기대치와 시간할인계수를 나타낸다. Mark는 위의 식 (2)를 이자율평가설과 결합한 다음의 모형 (4)를 사용한다. $$0=E_t[\frac{U'(C_{t+1})\;P_t\;(s_{t+1}-f_t)}{U'(C_t)\;P_{t+1}\;s_t}]$$ (4) (B) 실증분석의 결과 위험회피계수 ${\gamma}$의 추정치 : Mark의 경우에는 ${\gamma}$의 추정치의 값이 0에서 50.38까지 매우 큰 폭의 변화를 보이고 있다. 특히 비내구성제품의 소비량과 선도프레미엄을 사용한 경우 ${\gamma}$의 추정치의 값은 17.51로 비정상적으로 높게 나타난다. 반면에 본 연구에서는 추정치가 1.3으로 주식시장자료를 사용한 다른 연구결과와 비슷한 수준이다. ${\gamma}$추정치의 정확도 : Mark에서는 추정치의 표준오차가 최소 15.65에서 최대 42.43으로 매우 높은 반면 본 연구에서는 0.3에서 0.5수준으로 상대적으로 매우 정확한 추정 결과를 보여주고 있다. 모형의 정확도 : 모형 (4)에 대한 적합도 검증은 시용된 도구변수(instrumental variables)의 종류에 따라 크게 차이가 난다. 시차변수(lagged variables)를 사용하지 않고 현재소비와 선도프레미엄만을 사용할 경우 모형 (4)는 2.8% 또는 2.3% 유의수준에서 기각되는 반면 모형 (2)는 5% 유의수준에서 기각되지 않는다. 위와같은 실증분석의 결과는 앞서 논의한 바와 같이 이자율평가설을 사용하여 균형자산가격 결정모형을 변형시킴으로써 불필요한 편기를 발생시킨다는 것을 명확하게 보여주는 것이다.

• Journal of Food Hygiene and Safety
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• v.28 no.3
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• pp.272-278
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• 2013

To evaluate the effect of surface contaminated with Escherichia coli O157:H7 (E. coli O157:H7) on the microbiological safety of lettuce, this study was conducted to investigate the attachment, biofilm producing, survival, and cross-contamination of E. coli O157:H7 on stainless steel and polyvinyl chloride (PVC). The attachment rate of E. coli O157:H7 on PVC was 10 times higher than that on stainless steel after exposure 1 h in cell suspension. However, there was not a difference between two types of surface after exposure for 6 h and 24h. The biofilm producing of E. coli O157:H7 was TSB > 10% lettuce extracts > 1% lettuce extracts > phosphate buffer. When two kinds of materials were stored at various conditions ($20^{\circ}C$ and $30^{\circ}C$, relative humidity (RH) 43%, 69%, and 100%), the numbers of E. coli O157:H7 at $30^{\circ}C$, RH 43% or RH 69% were reduced by 5.0 log CFU/coupon within 12 h regardless of material type. Conversely, the survival of E. coli O157:H7 at RH 100% was lasted more than 5 days. In addition, the reduction rate of E. coli O157:H7 was decreased in the presence of organic matter. The transfer efficiency of E. coli O157:H7 from the contaminated surface to lettuce was dependent upon the water amount of the surface of lettuce. Especially, the transfer rate of E. coli O157:H7 was increased by 10 times in the presence of water on the lettuce surface. From this study, the retention of E. coli O157:H7 on produce contact surfaces increase the risk cross-contamination of this pathogen to produce. Thus, it is important that the surface in post harvest facility is properly washed and sanitized after working for prevention of cross-contamination from surface.

• Journal of Intelligence and Information Systems
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• v.17 no.1
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• pp.71-90
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• 2011

This study was designed to empirically analyze the effect of control activities(physical, managerial and technical securities) of information protection on organizational effectiveness and the mediating effects of information application. The result was summarized as follows. First, the effect of control activities(physical, technical and managerial securities) of information protection on organizational effectiveness showed that the physical, technical and managerial security factors have a significant positive effect on the organizational effectiveness(p < .01). Second, the effect of control activities(physical, technical and managerial securities) of information protection on information application showed that the technical and managerial security factors have a significant positive effect on the information application(p < .01). Third, the explanatory power of models, which additionally put the information protection control activities(physical, technical and managerial securities) and the interaction variables of information application to verify how the information protection control activities( physical, technical and managerial security controls) affecting the organizational effectiveness are mediated by the information application, was 50.6%~4.1% additional increase. And the interaction factor(${\beta}$ = .148, p < .01) of physical security and information application, and interaction factor(${\beta}$ = .196, p < .01) of physical security and information application among additionally-put interaction variables, were statistically significant(p < .01), indicating the information application has mediated the relationship between physical security and managerial security factors of control activities, and organizational effectiveness. As for results stated above, it was proven that physical, technical and managerial factors as internal control activities for information protection are main mechanisms affecting the organizational effectiveness very significantly by information application. In information protection control activities, the more all physical, technical and managerial security factors were efficiently well performed, the higher information application, and the more information application was efficiently controlled and mediated, which it was proven that all these three factors are variables for useful information application. It suggested that they have acted as promotion mechanisms showing a very significant result on the internal customer satisfaction of employees, the efficiency of information management and the reduction of risk in the organizational effectiveness for information protection by the mediating or difficulty of proved information application.

• Journal of the Korean Society for Aviation and Aeronautics
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• v.15 no.1
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• pp.38-53
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• 2007

In a seminal judgment of November 2002 (Case C-476/98) relating to the compatibility with Community laws of the 'nationality clause' in the 1996 amending protocol to the 1955 U.S.-German Air Services Agreement, the European Court of Justice(ECJ) decided that the provision constituted a measure of an intrinsically discriminatory nature and was thus contrary to the principle of national treatment established under Art. 52 of the EC Treaty. The Court, rejecting bluntly the German government' submissions relying on public policy grounds(Art. 56, EC Treaty), seemed content to declare and rule that the protocol provision requiring a contracting state party to ensure substantial ownership and effective control by its nationals of its designated airlines had violated the requirement of national treatment reserved for other Community Members under the salient Treaty provision. The German counterclaims against the Commission, although tantalizing not only from the perusal of the judgment but from the perspective of international air law, were nonetheless invariably correct and to the point. For such a clause has been justified to defend the 'fundamental interests of society from a serious threat' that may result from granting operating licenses or necessary technical authorizations to an airline company of a third country. Indeed, the nationality clause has been inserted in most of the liberal bilaterals to allow the parties to enforce their own national laws and regulations governing aviation safety and security. Such a clause is not targeted as a device for discriminating against the nationals of any third State. It simply acts as the minimum legal safeguards against aviation risk empowering a party to take legal control of the designated airlines. Unfortunately, the German call for the review of such a foremost objective and rationale underlying the nationality clause landed on the deaf ears of the Court which appeared quite happy not to take stock of the potential implications and consequences in its absence and of the legality under international law of the 'national treatment' requirement of Community laws. Again, while US law limits foreign shareholders to 24.9% of its airlines, the European Community limits non-EC ownership to 49%, precluding any ownership and effective control by foreign nationals of EC airlines, let alone any foreign takeover and merger. Given this, it appears inconsistent and unreasonable for the EC to demand, $vis-{\grave{a}}-vis$ a non-EC third State, national treatment for all of its Member States. The ECJ's decision was also wrongly premised on the precedence of Community laws over international law, and in particular, international air law. It simply is another form of asserting and enforcing de facto extraterritorial application of Community laws to a non-EC third country. Again, the ruling runs counter to an established rule of international law that a treaty does not, as a matter of principle, create either obligations or rights for a third State. Aside from the legal problems, the 'national treatment' may not be economically justified either, in light of the free-rider problem and resulting externalities or inefficiency. On the strength of international law and economics, therefore, airlines of Community Members other than the designated German and U.S. air carriers are neither eligible for traffic rights, nor entitled to operate between or 'free-ride' on the U.S. and German points. All in all and in all fairness, the European Court's ruling was nothing short of an outright condemnation of established rules and principles of international law and international air law. Nor is the national treatment requirement justified by the economic logic of deregulation or liberalization of aviation markets. Nor has the requirement much to do with fair competition and increased efficiency.

• The Journal of Korean Society for Radiation Therapy
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• v.17 no.2
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• pp.87-94
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• 2005

Purpose : Heavy metal use when producing the block from the workshop. At this time, production of heavy metal dust and fume gives risk in human. This like heavy metal to improve seriousness through measurement and analysis. And by the quest in solution is purpose of this thesis. Materials and Methods : Organization is Inductively Coupled Plasma Atomic Emission Spectrometer, and the object is Deajeon city 4 workshops in university hospital radiation oncology (Bismuth, Lead, Tin and cadmium). Method is the ppb the pumping it does at unit, comparison analysis. And the Calculation heavy metal standard level in air through heavy metal standard level in body and blood, so Heavy metal temporary standard set. Results : Subterranean existence room air quality the administration laws appointed Lead and Cadmium's exposure recommend that it is $3{\mu}g/m^3\;and\;2{\mu}g/m^3$. And Bismuth and Tin decides $7{\mu}g/m^3\;and\;6{\mu}g/m^3$ through standard level in air heavy metal and standard level in body and blood. Heavy metal measurement level of workshops in 4 university hospital Daejeon city compares with work existence and nonexistence. On work nonexistence almost measurement level is below the recommend level. But work existence case express high level. Also consequently in composition ratio of the block is continuous with the detection ratio. Conclusion : Worker's heavy metal contamination imbrued serious for solution founds basic part. In hospital may operation on local air exhauster and periodical efficiency check, protector offer, et al. And worker have a correct understanding part of heavy metal contamination, and have continuous interest, health control. Finally, learned society sphere administer to establishment standard level and periodical measurement. And it founds basic solution plan of periodical special health checkup.

• Journal of the East Asian Society of Dietary Life
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• v.20 no.1
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• pp.37-45
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• 2010

The effects of an Acanthopanacis cortex water extract on lipid levels, lipid peroxide, total antioxidant status and antioxidant enzyme activities were evaluated in rats fed one of the following diets for six weeks: normal diet and deionized water (ND), normal diet and Acanthopanacis cortex water extract (NDC), high fat diet and deionized water (HFD), high fat diet and Acanthopanacis cortex water extract (HFDC). The food intakes were significantly lower, but the food efficiency ratios were significantly higher in the high fat diet groups. The level of HDL-cholesterol in the plasma was significantly increased and the levels of LDL-cholesterol and triglyceride in the plasma were significantly decreased by the Acanthopanacis cortex water extract in the high fat diet groups. As a a result, the AI (atherogenic index) and CRF (cardiac risk factor) were significantly lower in the high fat diet groups that were treated with Acanthopanacis cortex water extract. The triglyceride and the total cholesterol of the liver were also significantly upregulated in the high fat diet groups, while the total cholesterol of the liver decreased in response to treatment with Acanthopanacis cortex water extract (HFDC). The plasma and liver concentrations of thiobarbituric acid reactive substances (TBARS) were significantly reduced by the addition of Acanthopanacis cortex water extract to the normal diet groups. The total antioxidant status (TAS) in the plasma was significantly upregulated by adding Acanthopanacis cortex water extract to the high fat diet groups. The activities of SOD, catalase and GST were also significantly higher in the Acanthopanacis cortex water extract groups when compared to the ionized water groups. The activity of GSH-Px and the concentration of GSH in the liver were significantly higher following the addition of Acanthopanacis cortex water extract to the high fat diet groups. Taken together, these results suggest that a supplementation of the diet of rats fed a high fat diet with Acanthopanacis cortex water extract improves lipid metabolism, reduces lipid peroxide and improves the activities of antioxidant enzymes, which may have favorable effects on antioxidant systems by improving the total antioxidant status (TAS).

• Journal of the Korean Society of Food Science and Nutrition
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• v.36 no.3
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• pp.276-283
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• 2007

This study was carried out to investigate the effect of isoflavone on the atherogenic effect in C57BL/6 mice. C57BL/6 female mice, 5 weeks of age, were fed on chow diets for 2 weeks during adjustment period. Mice weighing approximately $17.9{\pm}0.9\;g$ were divided into 4 groups and were fed on the experimental diets containing isoflavone for 8 weeks. Experimental groups were control (atherogenic diet), IF-10 (atherogenic diet with isoflavone 10 mg/100 g diet), IF-40 (atherogenic diet with isoflavone 40 mg/100 g diet) and IF-100 (atherogenic diet with isoflavone 100 mg/100 g diet). Food efficiency ratio was not different among the experimental groups. Plasma triglyceride (TG) concentrations were lower after 4 weeks in isoflavone supplementation groups than in control group, whereas monocyte chemoattractant protein-1 and thiobarbituric acid reactive substances (TBARS) levels of plasma were significantly (p<0.05) decreased in the isoflavone supplementation groups in a dose dependent manner. Both hepatic TG and cholesterol levels were significantly lowered in IF-100 than control. Hepatic glutathione concentrations were higher in the IF-100 group than in the other groups. Hepatic antioxidant enzyme activities including glutathione-reductase, glutathione-peroxidase, catalase, and Mn-superoxide dismutase were significantly higher in the isoflavone supplemen-tation groups in a dose dependent manner. From the above results, it is concluded that isoflavone may reduce the risk of atherosclerosis via hypolipidemic, anti-oxidative and anti-inflammatory effects.

• Journal of the Korean Society of Food Science and Nutrition
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• v.45 no.7
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• pp.1041-1048
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• 2016

Biofilm cells and viable but non-culturable (VBNC) state may play a role in the survival of Campylobacter jejuni under unfavorable environmental conditions. The objective of this study was to investigate the behavior of C. jejuni biofilm cells and VBNC cells on smoked duck. The transfer of C. jejuni biofilm cells to smoked duck and its ability to resuscitate from biofilm and VBNC cells on smoked duck was investigated. Transfer experiments were conducted from C. jejuni biofilm cells to smoked duck after 5 min, 1 h, 3 h, and 24 h contact at room temperature, and the efficiency of transfer (EOT) was calculated. In addition, smoked duck was inoculated with C. jejuni biofilm and VBNC cells and then stored at 10, 24, 36, and $42^{\circ}C$ to examine the cells' ability to resuscitate on smoked ducks. The 5 min contact time between C. jejuni biofilm cells and smoked duck showed a higher EOT (0.92) than the 24 h contact time (EOT=0.08), and the EOT decreased as contact time increased. Furthermore, C. jejuni biofilm cells on smoked duck were not recovered at 10, 24, and $36^{\circ}C$, and C. jejuni VBNC cells were not resuscitated at $42^{\circ}C$. Although the resuscitation of C. jejuni biofilm and VBNC cells was not observed on smoked duck, microbial criteria of C. jejuni is needed in poultry and processed poultry products due to risk of its survival and low infectious dose.

• Journal of the Korean Society of Food Science and Nutrition
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• v.41 no.1
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• pp.49-56
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• 2012

This study examined the effects of baked garlic powder on the lipid metabolism in rats fed a high-fat/highcholesterol diet for 4 weeks to induce hyperlipidemia. Male Sprague-Dawley rats were assigned to four groups according to the dietary fat, cholesterol and baked garlic powder levels. The experimental groups were normal diet group (N), a high-fat/high-cholesterol diet group (C), a high-fat/high-cholesterol diet with 1.5% baked garlic powder group (GPL) and a high-fat/high-cholesterol diet with 3% baked garlic powder group (GPH). The body weight gain, food intake and food efficiency ratio were similar in the experimental groups. The epididymal adipose tissues weight of the C group was higher than that of the N group, whereas those of the groups fed baked garlic powder were decreased gradually. The ALT and ALP activities were similar in the C groups, but the serum AST and LDH activities elevated by a high-fat/high-cholesterol diet were decreased significantly by feeding a 3% baked garlic powder diet. The serum triglyceride, total cholesterol and LDL-cholesterol levels as well as the atherogenic index and cardiac risk factor tended to decrease in the groups fed baked garlic powder than the C group, whereas the serum HDL-cholesterol level was lower in the C group and remarkably in groups fed baked garlic powder than the control group. The total cholesterol level in the liver and mesenteric adipose tissue and the triglyceride level in epididymal tissue were lower in the groups fed baked garlic powder than the C group. These results suggest that baked garlic powder reduces the serum lipid components and improves the lipid metabolism in hyperlipidemic rats induced with a high-fat/high-cholesterol diet.