• Journal of Intelligence and Information Systems
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• v.16 no.3
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• pp.77-97
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• 2010

Market timing is an investment strategy which is used for obtaining excessive return from financial market. In general, detection of market timing means determining when to buy and sell to get excess return from trading. In many market timing systems, trading rules have been used as an engine to generate signals for trade. On the other hand, some researchers proposed the rough set analysis as a proper tool for market timing because it does not generate a signal for trade when the pattern of the market is uncertain by using the control function. The data for the rough set analysis should be discretized of numeric value because the rough set only accepts categorical data for analysis. Discretization searches for proper "cuts" for numeric data that determine intervals. All values that lie within each interval are transformed into same value. In general, there are four methods for data discretization in rough set analysis including equal frequency scaling, expert's knowledge-based discretization, minimum entropy scaling, and na$\ddot{i}$ve and Boolean reasoning-based discretization. Equal frequency scaling fixes a number of intervals and examines the histogram of each variable, then determines cuts so that approximately the same number of samples fall into each of the intervals. Expert's knowledge-based discretization determines cuts according to knowledge of domain experts through literature review or interview with experts. Minimum entropy scaling implements the algorithm based on recursively partitioning the value set of each variable so that a local measure of entropy is optimized. Na$\ddot{i}$ve and Booleanreasoning-based discretization searches categorical values by using Na$\ddot{i}$ve scaling the data, then finds the optimized dicretization thresholds through Boolean reasoning. Although the rough set analysis is promising for market timing, there is little research on the impact of the various data discretization methods on performance from trading using the rough set analysis. In this study, we compare stock market timing models using rough set analysis with various data discretization methods. The research data used in this study are the KOSPI 200 from May 1996 to October 1998. KOSPI 200 is the underlying index of the KOSPI 200 futures which is the first derivative instrument in the Korean stock market. The KOSPI 200 is a market value weighted index which consists of 200 stocks selected by criteria on liquidity and their status in corresponding industry including manufacturing, construction, communication, electricity and gas, distribution and services, and financing. The total number of samples is 660 trading days. In addition, this study uses popular technical indicators as independent variables. The experimental results show that the most profitable method for the training sample is the na$\ddot{i}$ve and Boolean reasoning but the expert's knowledge-based discretization is the most profitable method for the validation sample. In addition, the expert's knowledge-based discretization produced robust performance for both of training and validation sample. We also compared rough set analysis and decision tree. This study experimented C4.5 for the comparison purpose. The results show that rough set analysis with expert's knowledge-based discretization produced more profitable rules than C4.5.

• Journal of Intelligence and Information Systems
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• v.26 no.2
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• pp.57-78
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• 2020

With the development of the Internet, consumers have had an opportunity to check product information easily through E-Commerce. Product reviews used in the process of purchasing goods are based on user experience, allowing consumers to engage as producers of information as well as refer to information. This can be a way to increase the efficiency of purchasing decisions from the perspective of consumers, and from the seller's point of view, it can help develop products and strengthen their competitiveness. However, it takes a lot of time and effort to understand the overall assessment and assessment dimensions of the products that I think are important in reading the vast amount of product reviews offered by E-Commerce for the products consumers want to compare. This is because product reviews are unstructured information and it is difficult to read sentiment of reviews and assessment dimension immediately. For example, consumers who want to purchase a laptop would like to check the assessment of comparative products at each dimension, such as performance, weight, delivery, speed, and design. Therefore, in this paper, we would like to propose a method to automatically generate multi-dimensional product assessment scores in product reviews that we would like to compare. The methods presented in this study consist largely of two phases. One is the pre-preparation phase and the second is the individual product scoring phase. In the pre-preparation phase, a dimensioned classification model and a sentiment analysis model are created based on a review of the large category product group review. By combining word embedding and association analysis, the dimensioned classification model complements the limitation that word embedding methods for finding relevance between dimensions and words in existing studies see only the distance of words in sentences. Sentiment analysis models generate CNN models by organizing learning data tagged with positives and negatives on a phrase unit for accurate polarity detection. Through this, the individual product scoring phase applies the models pre-prepared for the phrase unit review. Multi-dimensional assessment scores can be obtained by aggregating them by assessment dimension according to the proportion of reviews organized like this, which are grouped among those that are judged to describe a specific dimension for each phrase. In the experiment of this paper, approximately 260,000 reviews of the large category product group are collected to form a dimensioned classification model and a sentiment analysis model. In addition, reviews of the laptops of S and L companies selling at E-Commerce are collected and used as experimental data, respectively. The dimensioned classification model classified individual product reviews broken down into phrases into six assessment dimensions and combined the existing word embedding method with an association analysis indicating frequency between words and dimensions. As a result of combining word embedding and association analysis, the accuracy of the model increased by 13.7%. The sentiment analysis models could be seen to closely analyze the assessment when they were taught in a phrase unit rather than in sentences. As a result, it was confirmed that the accuracy was 29.4% higher than the sentence-based model. Through this study, both sellers and consumers can expect efficient decision making in purchasing and product development, given that they can make multi-dimensional comparisons of products. In addition, text reviews, which are unstructured data, were transformed into objective values such as frequency and morpheme, and they were analysed together using word embedding and association analysis to improve the objectivity aspects of more precise multi-dimensional analysis and research. This will be an attractive analysis model in terms of not only enabling more effective service deployment during the evolving E-Commerce market and fierce competition, but also satisfying both customers.

• The Korean Journal of Nuclear Medicine
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• v.36 no.4
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• pp.244-254
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• 2002

Purpose: This study investigated the differences between technetium-99m ethyl cysteinate dimer (Tc-99m ECD) and technetium-99m hexamethylpropylene amine oxime (Tc-99m HMPAO) uptake in the normal brain by means of statistical parametric mapping (SPM) analysis. Materials and Methods: We retrospectively analyzed age and sex matched 53 cases of normal brain SPECT. Thirty-two cases were obtained with Tc-99m ECD and 21 cases with Tc-99m HMPAO. There were no abnormal findings on brain MRIs. All of the SPECT images were spatially transformed to standard space, smoothed and globally normalized. The differences between the Tc-99m ECD and Tc-99m HMPAO SPECT images were statistically analyzed using statistical parametric mapping (SPM'99) software. The differences bgetween the two groups were considered significant ant a threshold of corrected P values less than 0.05. Results: SPM analysis revealed significantly different uptakes of Tc-99m ECD and Tc-99m HMPAO in the normal brains. On the Tc-99m ECD SPECT images, relatively higher uptake was observed in the frontal, parietal and occipital lobes, in the basal ganglia and thalamus, and in the superior region of the cerebellum. On the Tc-99m HMPAO SPECT images, relatively higher uptakes was observed in subcortical areas of the frontal region, temporal lobe, and posterior portion of inferior cerebellum. Conclusion: Uptake of Tc-99m ECD and Tc-99m HMPO in the normallooking brain was significantly different on SPM analysis. The selective use of Tc-99m ECD of Tc-99m HMPAO in brain SPECT imaging appears especially valuable for the interpretation of cerebral perfusion. Further investigation is necessary to determine which tracer is more accurate for diagnosing different clinical conditions.

• Journal of the Korean Institute of Traditional Landscape Architecture
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• v.40 no.1
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• pp.26-42
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• 2022

The purpose of this study is to examine and understand the area and the original outer boundaries of Hamchunwon(含春苑), which was the outer royal garden of Gyeonghuigung Palace, which existed before the site of the Russian legation. The results of the study are as follows. First, examining the 3 types of drawings prepared for securing the Russian legation's site and constructing a new building, it was confirmed that two low peaks, which appear to be the original terrain of Hamchunwon, existed in the north and south directions inside the site. According to the initial plan of the of the legation's site, it appears that the entrance of the legation building is connected to the Saemunan-ro in the northwest. However, according to the report made at the time when the Russian temporary minister Veber purchased the legation's site, it was recorded that the site already had a narrow entrance and a dirt road in place, and hence, it was connected to Saemunan-ro. This fact makes it possible to learn that the line of movement for officials and the original gate were located to the northwest of the site planned as the entrance of the legation building towards Hamchunwon. Second, the site was created by cutting the top of the high hill at the time of the construction of the legation building, and as a result, a two tiered staircase typed terrace was built. The ground on which the main building and the secretary's building, etc., were erected was made by cutting the highest peak and solidifying it flat, and a large quantity of soil was used for grading. In the case of the northern area of the main building, the traces of leveling the terrain by cutting the mountains are apparent, and an observation typed garden with a walking path and pavilion was formed by utilizing the physical environment equipped with an easy view. This may be considered as a use which is consistent with the topographical conditions of creating an outer royal garden to block the civilian views on a high terrain overlooking the palace. Third, Hamchunwon's fences were partially exposed in the photos from the 1880s through the 1890s, which demonstrate the spatial changes made around the US, UK, and the Russian legations. As a result of the photo analysis performed, Hamchunwon occupies the northern area of the Russian legation's site, and it is estimated that the north, west, and east walls of the legation resembled those of Hamchunwon. The area to the south of the Russian legation was originally a place made available for civilian houses, and it was possible to examine the circumstances of purchasing dozens of civilian houses and farmlands according to various materials. Fourth, Hamchunwon, which was formed as the outer royal garden of Gyeongdeokgung Palace of Lord Gwanghaegun, lost its sense of place as an outer royal garden when the entire building of Gyeonghuigung Palace was torn down and used as a construction members during the reconstruction of Gyeongbokgung Palace, and faded away as the site was sold to Russia around 1885. The area where Hamchunwon used to be located transformed into a core space of the Russian legation where the main building and garden were located after the construction of the new building. Hence, Hamchunwon, which was limited to the northern area of the Russian legation, does not carry the temporal and spatial context with Gyeongungung Palace and Seonwonjeon which were constructed after 1897, and it is determined that the view of Seonwonjeon as Baehoorim or Baegyeongrim is not valid.

• Journal of the Daesoon Academy of Sciences
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• v.32
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• pp.77-108
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• 2019

The purpose of this paper is to clarify the characteristics of 'Podeok' in Daesoon Jinrihoe. The term Podeok can cause some misunderstanding as the same word Deok (德 virtue) has long been used in the Eastern Tradition. In other words, for most people who are used to traditional thought, Podeok may be conflated with the similar word 'Deok (virtue)' as used within Confucianism. People who are familiar with Confucian culture might thereby misunderstand the term Podeok as an aspect of Confucian moral ethics, or they could misconstrue Daesoon Jinrihoe as having appropriated and misused Confucian ideas. Furthermore, there are other problems that could arise if people compare Daesoon Jinrihoe's 'Podeok' with 'Deok (virtue)' as used by Laozi. While Deok in Laozi's usage represents the ability of an individual who can exercise his or her rationality with excellence, Deok in Daesoon Jinrihoe indicates the idea of actualizing Mutual Beneficence and the conditions that enable Mutual Beneficence. If one understands Deok as used by Laozi to contain the meaning of Mutual Beneficence, then it is possible to think that the two tradition share a similar meaning of Deok as Podeok in Daesoon Jinrihoe pursues Mutual Beneficence as its ultimate value. In order to preemptively correct these misunderstandings, I need to clarify how the idea of Deok was born out of traditional thought and what meanings it embodies. Additionally, it is necessary to examine how it became meaningful in Confucianism, and how it was criticized and ascribed new meanings in Laozi's thought. Through these clarification, it will become clear that Deok originally indicated a religious ritual that the king of the Zhou Dynasty performed after receiving the heavenly mandate and assuming rule over the nation. Later, this idea was transformed into a moral virtue and norm by Confucius. This moral virtue and norm was criticized by Laozi as an unnatural form of control as it was understood by Laozi as a teleological argument justifying whether or not lives were to be saved or sustained based on the perceived merits of each individual. On the contrary, Deok in Daesoon Jinrihoe and traditional thought stand on a totally different theological bases. Deok in Daesoon Jinrihoe is a means to practice and realize the truth of the earthly paradise of the Later World and the truth of Mutual Beneficence which were posited to the world through Kang Jeungsan's Works of Haewon (grievance resolution) that resolved the pattern of mutual conflict that characterized the Former World. Therefore, the idea of Podeok in Daesoon Jinrihoe gains completion only on the premises of Haewon Sangsaeng (resolution of grievances for mutual beneficence) and Boeun Sangsaeng (reciprocation of favors for mutual beneficence), and the way to practice Podeok is to practice Haewon Sangsaeng and Boeun Sangsaeng. In addition, the subordinate virtues such as loyalty, filial piety, and faithfulness that exist within Daesoon Jinrihoe's religious practice are not same as those of traditional thought. They are new concepts of virtues drawn from the cosmological laws of Daesoon Jinrihoe. To be specific, the virtues of Daesoon Jinrihoe are not rules that create discrimination and mutual conflict, but are instead ethical rules established upon the basis of Heaven and Earth having been newly organized, and thus, they will bring virtuous concordance, harmonious union, and mutual beneficence. The idea of 'Podeok' in Daesoon Jinrihoe can be understood as a religious practice that requires doctrinal understanding and tangible practice in daily life of followers. In other words, it is not the same Deok of earlier traditional thought in East Asia, but is instead a religious truth by which practitioners realize the truth of Sangje's Works of Haewon in human world as they practice Haewon Sangsaeng and Boeun Sangsaeng.

• Sim-seong Yeon-gu
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• v.32 no.1
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• pp.1-16
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• 2017

The purpose of this paper is to illustrate the nature of Objective Psyche based on island related case materials. Theoretical background starts with psychological meaning of islands, a kind affective symbol rather than cognitive image, and creation myths as the story of man's awareness of the world; Chaos as archaic identity (unconscious), islands as emergence of the ego from unconscious. In alchemical symbolism, island related to coagulatio, the operation which turns something into earth, the realm of ego. In addition, related parts of Hindu creation myths, Korean giant woman creator Sulmoonde-halmang, and legends of "Relocation of Island/Mountain" will be presented to integrate with case materials. Case A : Starts with a dream of killing a huge dragon and dead body became an island. The dragon in the water was seen as Spirit of Mercurius, the autonomous spirit, connecting of the ego with the Self. The act of killing related to Primeval being which needs to be killed to be transformed. Myths of Eskimo, The Eagle's Gift, the giant woman creator in Korea, and Marduk, the Babylonian hero will be integrated. Case B : Prior to introduce six island images in sand trays, a dream of a giant serpent (python) wound around her body will be presented to portray her situation. By relating Jung's "The Sermons to the Dead," her effort to make the solid island regarded as an act of bringing order out of original oneness (pleroma). Then stresses the importance to coagulate archetypal image Case C : A vignette of active imagination seminar where island image emerged will be described. Her endeavor of focusing on inner image related to the Hindu Creator, Cherokee creation myth, as well as Sulmoonde-halmang. As a motif of growing island, Samoan creation myth, and Legend of Mountain, Mai were incorporated. Colors in her art work regarded as expression of inner need, and importance of expressing inner feeling images as a mean to coagulate volatile emotional and spiritual content. Case D : A dream and art work of terminally ill woman; embracing the tip of the island with gushing up water will be presented. Her island and replenishing water image regard as "an immortal body," corresponds to the Philosophers' Stone for she accepted her death peacefully after the dream. Also related to "The Mercurial Fountain" in Rosarium Philosophorum, and aqua permanence, an allegory of God.

• Korean Journal of Heritage: History & Science
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• v.57 no.1
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• pp.126-144
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• 2024

The chrysanthemum vine pattern box from the Goryeo Dynasty expresses in great detail the representative features of Goryeo Dynasty lacquerware with mother-of-pearl, such as engraving patterns on the surface of fine mother-of-pearl, expressing vine stems using metal wires, and twisting metal wires to form the boundaries of each patterns. While the lacquerware with mother-of-pearl that remains today from the Goryeo Dynasty has the form of a sutra box and a box with lid, the chrysanthemum vine pattern box that is the subject of this study is in the shape of a box with a separate lid and body, making it difficult to estimate the purpose of production or the stored contents. In this study, we attempted to confirm the formative characteristics of the chrysanthemum vine pattern box in order to confirm its original form, and to investigate its structure and production technique through X-ray transmission. In addition, we attempted to identify the use and production purpose of the box by classifying and comparing the previously known lacquerware with mother-ofpearl from the Goryeo Dynasty by type. As a result of the investigation, fabric was confirmed the bottom of body and inner box through X-ray images. Through this, it was confirmed that the 'Mogsimjeopichilgi'(wooden core grabbing fabric technique) of wrapping the object with fabric was used. And through wood grain, it was possible to confirm the wooden board composition of the part presumed to be the restored part and the part presumed to have had existing Jangseog. In addition, it was confirmed that the joints were connected in a Majdaeim(part to part). Based on the survey results, a total of 14 pieces, including 9 Sutra boxes, 3 boxes, and 2 small boxes, that remain from the Goryeo Dynasty were classified by type and examined for similarity. Among them, there is a "Chrysanthemum Vine Pattern Sutra Box" from a private collection in Japan, a "Black Lacquered Chrysanthemum Arabesque Bun Sutra Box" from the Tokugawa Art Museum, a "Sutra Holder" from the British Museum, and a "Small Box with a Mother-of-Pearl Chrysanthemum Vine Pattern" from a private collection in Korea. The pattern composition of five points was most similar to the subject of this study. As a result of comparing the damage pattern, formative characteristics, and structural features of each part, it is presumed that the sutra holder in the British Museum was transformed into its current form from the original the chrysanthemum vine patterned box. Lastly, in order to confirm the purpose of production, that is, the use of this box, we investigated examples of Tripitaka Koreana printed version produced at a time similar to the social atmosphere of Goryeo at the time. Following the Mongol(元) invasion after the Goryeo military regime at the time, sutras appeared to pray for the stability of the nation and the soul of an individual, and with the development of domestic printing and paper in the 13th century, it gradually coincided with the transition from a scroll to a folded form, and the form of a box changed from a box. It is believed that the storage method also changed.

• Tuberculosis and Respiratory Diseases
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• v.49 no.6
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• pp.691-702
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• 2000

Background : Acute lung injury (ALI) is a commonly encountered respiratory disease and its prognosis is poor when the treatment is not provided promptly and properly. However no specific pharmacologic treatment is currently available for ALI, although recently several supportive drugs have been under scrutiny. We studied anti-inflammatory effects of pentoxifylline (PF), a methylated xanthine, and ONO-5046, a synthetic neutrophil elastase inhibitor on lipopolysaccharide (LPS)-induced ALI in vitro. Methods : To establish an in vitro model of LPS-induced ALI, primary rat alveolar macrophages and peripheral neutrophils in various ratios (1:0, 5:1, 1:1, 1:5, 0:1) were co-cultured with transformed rat alveolar epithelial cells (L2 cell line) or vascular endothelial cells (IP2-E4 cell line) under LPS stimulation. Each experiment was divided into five groups-control, LPS, LPS+PF, LPS+ONO, and LPS+PF+ONO. We compared LPS-induced superoxide anion productions from primary rat alveolar macrophages and peripheral neutrophils in various ratios, and the resultant cytotoxicity on L2 cells or IP2-E4 cells between groups. In addition we also compared the productions of tumor necrosis factor (TNF)-$\alpha$ interleukin (IL)-$1{\beta}$, monocyte chemotactic protein(MCP)-1, IL-6, and IL-10 as well as mRNA expressions of TNF-$\alpha$ inducible nitric oxide synthetase(iNOS), and MCP-1 from LPS-stimulated primary rat alveolar macrophages between groups. Results : (1) PF and ONO-5046 in each or both showed a trend to suppress LPS-induced superoxide anion productions from primary rat alveolar macrophages and peripheral neutrophils regardless of their ratio, except for the LPS+PF+ONO group with the 1:5 ratio, although statistical significance was limited to a few selected experimental conditions. (2) PF and ONO-5046 in each or both showed a trend to prevent IP2-E4 cells from LPS-induced cytotoxicity by primary rat alveolar macrophages and peripheral neutrophils regardless their ratio, although statistical significance was limited to a few selected experimental conditions. the effects of PF and/or ONO-5046 on LPS-induced L2 cell cytotoxicity varied according to experimental conditions. (3) PF showed a trend to inhibit LPS-induced productions of INF-$\alpha$ MCP-1, and IL-10 from primary rat alveolar macrophages. ONO-5046 alone didnot affect the LPS-induced productions of proinflammatory cytokines from primary rat alveolar macrophages but the combination of PF and ONO-5046 showed a trend to suppress LPS-induced productions of INF-$\alpha$ and IL-10 PF and ONO-5046 in each or both showed a trend to increase LPS-induced IL-$\beta$ and IL-6 productions from primary rat alveolar macrophages. (4) PF and ONO-5046 in each or both showed a trend to attenuate LPS-induced mRNA expressions of TNF-$\alpha$ and MCP-1 from primary rat alveolar macrophages but at the same time showed a trend increase iNOS mRNA expression. Conclusion : These results suggest that PF and ONO-5046 may play a role in attenuating inflammation in LPS-induced ALI and that further study is needed to use these drugs as a new supportive therapeutic strategy for ALI.

• (The)Study of the Eastern Classic
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• no.70
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• pp.435-466
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• 2018

"Hajaeilgi (荷齋日記)" was written by Ji Gyu-sik, a gongin of Saongwon (司饔院)'s branch, almost everyday for 20 years and 7 months from January 1st, 1891 until the leap month of June 29th, 1911. It deals with many different areas including domestic and foreign circumstances, custom, rituals, all the affairs related to the branch, and also everyday life. Particularly, Ji Gyu-sik did not belong to the yangban class, and we can hardly find diaries written by such class' people. Here, what this author pays attention to among the things written in "Hajaeilgi" is the contents about rituals, especially coming of age, wedding, funeral and ancestral rites. Ji Gyu-sik did write in his "Hajaeilgi" about coming of age, wedding, funeral and ancestral rites that were actually performed then as a person not belonging to the yangban class. Such diaries are very rare, and its value is highly appreciated as a material. Particularly, from the late 19th to the early 20th century of this author focuses on the a study of coming of age, wedding, funeral and ancestral rites as we can see some aspects about it from his diary. Coming-of-age rites were carried out in the first month of the year generally, and in this period, we can see the transformation of their performing period as it was diversified then. This was not exceptional in yangban families. About wedding, while it was discussed, it came to be canceled more often than before maybe because they were going through the process of enlightenment then. It seems that choosing the day was not done in the bride's family always. Jungin or commoners had a weeding in the bride's house, but when it was needed, it was also performed in the groom's house. Ji Gyu-sik followed the traditional wedding procedure for his children rather faithfully, but it was applied flexibly according to the two families' situations or conditions. Ignoring the traditional manners, they had a wedding in the period of mourning or performed a wedding in the groom's house bringing the bride there. It seems that this was related to the decline of Confucian order in the society in the process of modernization. Also, the form of donations changed, too. Gradually, it was altered to the form of money gifts. Moreover, unlike before, divorcing seems to have been allowed then. Remarriage or divorce was the custom transformed from before. Funeral rites had different durations from death up to balin (carrying out a bier for burial) and hagwan (lowering a coffin into the grave), and so it means that they also went through transformation. Sa-daebu used usually 3 months but here was 7 days from death to balin normally, but it seems that there were yangban families not following it. The traces of 3-iljang (burial on the third day after death) most commonly found these days and chowoo jaewoo samwooje can be also found in "Hajaeilgi". Such materials are, in fact, very highly evaluated nowadays. Meanwhile, donations also changed gradually to the form of money. Regarding ancestral rites, time for memorial service was not fixed. Ji Gyu-sik did not follow jaegye (齋戒) before carrying out gijesa, and in some worse case, he went to pub the day before the memorial service to meet his lover or drink. This is somewhat different from the practice of yangban sadaebu then. Even after entering Christianity, Ji Gyu-sik performed memorial service, and after joining Cheondogyo, he did it, too. Meanwhile, there were some exceptions, but in Hansik or Chuseok, Ji Gyu-sik performed charye (myoje) before the tomb in person or sent his little brother or son to do it. But we cannot find the contents that tell us Ji Gyu-sik carried out myoje in October. Ji Gyu-sik performed saengiljesa calling it saengsincharye almost every year for his late father. But it is noticeable that he performed saengsincharye and memorial service separately, too, occasionally. The gijesa, charye, myoje, and saengsincharye carried out by jungin family from Gyeonggi Gwangju around the time that the status system was abolished and the Japanese Empire took power may have been rather different and less strict than yangban family's practice of ancestral rites; however, it is significant that we can see with it the aspects of ancestral rites performed in family not yangban. As described above, the contents about the a study of coming of age, wedding, funeral and ancestral rites found in "Hajaeilgi" are equipped with great value as material and meaningful in the perspective of forklore.

• Korean small business review
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• v.31 no.2
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• pp.103-120
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• 2009

As business incubation centers (BICs) have been operating for more than 10 years in Korea, many early stage startups tend to use the services provided by the incubating centers. BICs in Korea have accumulated the knowledge and experience in the past ten years and their services have been considerably improved. The business incubating service has three facets : (1) business infrastructure service, (2) direct service, and (3) indirect service. The mission of BICs is to provide the early stage entrepreneurs with the incubating service in a limited period time to help them grow strong enough to survive the fierce competition after graduating from the incubation. However, the incubating services sometimes fail to foster the independence of new startup companies, and raise the dependence of many companies on BICs. Thus, the dependence on BICs is a very important factor to understand the survival of the incubated startup companies after graduation from BICs. The purpose of this study is to identify the main factors that influence the firm's dependence on BICs and to characterize the relationships among the identified factors. The business incubating service is a core construct of this study. It includes various activities and resources, such as offering the physical facilities, legal service, and connecting them with outside organizations. These services are extensive and take various forms. They are provided by BICs directly or indirectly. Past studies have identified various incubating services and classify them in different ways. Based on the past studies, we classify the business incubating service into three categories as mentioned above : (1) business infrastructure support, (2) direct support, and (3) networking support. The business infrastructure support is to provide the essential resources to start the business, such as physical facilities. The direct support is to offer the business resources available in the BICs, such as human, technical, and administrational resources. Finally, the indirect service was to support the resource in the outside of business incubation center. Dependence is generally defined as the degree to which a client firm needs the resources provided by the service provider in order to achieve its goals. Dependence is generated when a firm recognizes the benefits of interacting with its counterpart. Hence, the more positive outcomes a firm derives from its relationship with the partner, the more dependent on the partner the firm must inevitably become. In business incubating, as a resident firm is incubated in longer period, we can predict that her dependence on BICs would be stronger. In order to foster the independence of the incubated firms, BICs have to be able to manipulate the provision of their services to control the firms' dependence on BICs. Based on the above discussion, the research model for relationships between dependence and its affecting factors was developed. We surveyed the companies residing in BICs to test our research model. The instrument of our study was modified, in part, on the basis of previous relevant studies. For the purposes of testing reliability and validity, preliminary testing was conducted with firms that were residing in BICs and incubated by the BICs in the region of Gwangju and Jeonnam. The questionnaire was modified in accordance with the pre-test feedback. We mailed to all of the firms that had been incubated by the BICs with the help of business incubating managers of each BIC. The survey was conducted over a three week period. Gifts (of approximately ₩10,000 value) were offered to all actively participating respondents. The incubating period was reported by the business incubating managers, and it was transformed using natural logarithms. A total of 180 firms participated in the survey. However, we excluded 4 cases due to a lack of consistency using reversed items in the answers of the companies, and 176 cases were used for the analysis. We acknowledge that 176 samples may not be sufficient to conduct regression analyses with 5 research variables in our study. Each variable was measured through multiple items. We conducted an exploratory factor analysis to assess their unidimensionality. In an effort to test the construct validity of the instruments, a principal component factor analysis was conducted with Varimax rotation. The items correspond well to each singular factor, demonstrating a high degree of convergent validity. As the factor loadings for a variable (or factor) are higher than the factor loadings for the other variables, the instrument's discriminant validity is shown to be clear. Each factor was extracted as expected, which explained 70.97, 66.321, and 52.97 percent, respectively, of the total variance each with eigen values greater than 1.000. The internal consistency reliability of the variables was evaluated by computing Cronbach's alphas. The Cronbach's alpha values of the variables, which ranged from 0.717 to 0.950, were all securely over 0.700, which is satisfactory. The reliability and validity of the research variables are all, therefore, considered acceptable. The effects of dependence were assessed using a regression analysis. The Pearson correlations were calculated for the variables, measured by interval or ratio scales. Potential multicollinearity among the antecedents was evaluated prior to the multiple regression analysis, as some of the variables were significantly correlated with others (e.g., direct service and indirect service). Although several variables show the evidence of significant correlations, their tolerance values range between 0.334 and 0.613, thereby demonstrating that multicollinearity is not a likely threat to the parameter estimates. Checking some basic assumptions for the regression analyses, we decided to conduct multiple regression analyses and moderated regression analyses to test the given hypotheses. The results of the regression analyses indicate that the regression model is significant at p < 0.001 (F = 44.260), and that the predictors of the research model explain 42.6 percent of the total variance. Hypotheses 1, 2, and 3 address the relationships between the dependence of the incubated firms and the business incubating services. Business infrastructure service, direct service, and indirect service are all significantly related with dependence (β = 0.300, p < 0.001; β = 0.230, p < 0.001; β = 0.226, p < 0.001), thus supporting Hypotheses 1, 2, and 3. When the incubating period is the moderator and dependence is the dependent variable, the addition of the interaction terms with the antecedents to the regression equation yielded a significant increase in R2 (F change = 2.789, p < 0.05). In particular, direct service and indirect service exert different effects on dependence. Hence, the results support Hypotheses 5 and 6. This study provides several strategies and specific calls to action for BICs, based on our empirical findings. Business infrastructure service has more effect on the firm's dependence than the other two services. The introduction of an additional high charge rate for a graduated but allowed to stay in the BIC is a basic and legitimate condition for the BIC to control the firm's dependence. We detected the differential effects of direct and indirect services on the firm's dependence. The firms with long incubating period are more sensitive to indirect service positively, and more sensitive to direct service negatively, when assessing their levels of dependence. This implies that BICs must develop a strategy on the basis of a firm's incubating period. Last but not least, it would be valuable to discover other important variables that influence the firm's dependence in the future studies. Moreover, future studies to explain the independence of startup companies in BICs would also be valuable.