• Journal of the Korea Academia-Industrial cooperation Society
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• v.22 no.6
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• pp.207-214
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• 2021

This study aims to analyze the effect of the level of accounts receivable on firm profitability. It is possible to find the optimal level of accounts receivable that maximizes profitability. In this study, 6,632 samples were selected from manufacturing companies listed on the Korean Stock Exchange from 2001 to 2018. We used the fixed effect panel model to analyze the model equation. There is a positive (+) relationship between the profitability of a company, the Return on Assets (ROA), and accounts receivable (AR). Also, this relationship has a nonlinear relationship or a reverse-U shape. There is an optimal level of accounts receivables, which results in profitability increase up to a certain extent, but subsequently, profitability decreases when accounts receivables exceed this level. In the case of monopoly companies with a higher-than-average market share, the coefficient between accounts receivable and firm profitability is greater than that for competitors with a lower market share than average. It supports the hypothesis that Titman (1984) suggested, that trade credit is important for enhancing corporate profitability. It is confirmed that accounts receivables play an important role in enhancing firm profitability and it is necessary to understand this well from the corporate standpoint.

• Proceedings of the Technology Innovation Conference
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• 1996.12a
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• pp.196-238
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• 1996

Because global innovation-based competition is increasing and the amount of R&D expenditures becomes severely large, it is more likely that mergers and collaborative ventures tend to affect adversely to R&D competition Against this trend, enforcing agency of advanced countries including U.S.A are reassessing certain aspects of competition policy toward mergers and acquisition to ensure that procompetitive, efficiency-enhancing transactions are permitted. The role of competition policy is developing and appropriating new technology and protects the risks involved in the licensing contract of technologies. The role of intellectual property rights is also contrived to promote technological innovation and to increase consumer welfare. That is to say, dynamic efficiency of intellectual property rights includes (l) increase in social welfare and (2) promotion of growth by improvement of quality through invention and commercialization of new product as well as enhanced productive efficiency thorough appropriating new process. Because intellectual property rights are licensed to make use of complementary inputs, the rule of reason approach seems proper when applying antitrust law. To analyze the "Antitrust Guidelines for the Licensing and Acquisition of Intellectual Property"by DOJ and FTC in U.S.A, the author surveyed pros and cons on innovation market approach. This approach will only be used in a narrow range of situations when the evidence is solid, concentration numbers are extremely high, and the agencies can predict with a high degree of certainty that the merger will likely lead either to a slowing in the pace of innovation or the loss of an alternative research track that is likely to lead to a product beneficial to consumers. The author introduces the studies on licensing contract of intellectual property rights and competition polices on behalf of potential inquirers. Also the author invites the interdisciplinary researchers to analyze further with a model on the aspects of the "Notice 1995-10 for Types and Criteria on Unfair Transaction Behavior in International Contracts" by Fair Trade Committee of Korea.

• Korean Journal of Construction Engineering and Management
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• v.17 no.6
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• pp.24-30
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• 2016

Building Information Modeling, and its associated work practices, requires project participants to share not only 3D geometric data, but also information in the model that may be considered proprietary and even trade secrets. Thus protection of intellectual property, or BIM copyrights, must be in place for participants to share proprietary information among project stakeholders. Currently Korea does not have adequate copyright laws or mechanisms to provide such protection. This research examined three BIM copyright legal documents, namely U.S.' ConsensusDOCS 301, AIA Document E203/G202, and U.K.'s CIC BIM Protocol to determine how copyright protection is realized, and to formulate appropriate stipulations within the Korean construction context. The resultant requirements include stipulating ownership at to the BIM originator, adopting a license-sublicense scheme, employing a federated model, and use of a formal model delivey table to allocate responsibilities. Given Korea's adoption stage, liability should be minimal, and license revocation should be allowed if payments are not met. The three BIM legal documents focus on practical measures that allow participants to customize requirements for individual projects, and such conventions should be emulated in Korea.

• The Journal of the Korea Contents Association
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• v.17 no.7
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• pp.371-383
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• 2017

The aim of this paper is to investigate adjusting process of trade-off relationship between economic growth and income distribution in China which is established by mixed with social and market-oriented economic systems. The characteristic nature of social welfare index in urban and rural regions in China is examined by employing principal component analysis. Empirical evidences reveal that unlike national wide or urban region, the increases of income contribute to improve social well-being in rural region, but not social welfare index. Accordingly, it can be said that although social well-being in rural region seems to be harmful because of weakly organized social welfare index, the potentiality exists to improve social well-being by increased income. Taken all together, the results signifies that the mixed economic system such as China might distribute its increased income appropriately, however, the distributional system is hardly operated to improve social welfare index. And thus the distributional system has to be amended to enhance social well-being in China.

• International Commerce and Information Review
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• v.18 no.2
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• pp.85-103
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• 2016

This study deals with a research on Korean American economy and Korean banks operated in California where a large percentage of Korean residents in the U.S. is concentrated. Using date published by U.S. Census and the Federal Deposit Insurance Corporation (FDIC), quantitative analyses have been performed on the asset, employment, market share and other features of selected Korean American financial institutions. Also, each bank's status of financing and asset management are reviewed through the analysis of its balance sheets. The outcome of analysis on the status of Korean American banks are summarized as follows: First, Korean American banks are shown to be growing to become major banks with equivalent scale as mainstream banks. Second, the recently improved fundamentals of Korean American banks are identified. Third, the operational performances of Korean American banks are verified to be similar to the average of Californian banks.

• Transactions of the Korean Society of Automotive Engineers
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• v.22 no.3
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• pp.179-185
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• 2014

Average temperature and temperature uniformity in a battery cell are the important criteria of the thermal management of the battery pack for hybrid electric vehicles and electric vehicles (HEVs and EVs) because high power with large size cell is used for the battery pack. Thus, liquid cooling system is generally applied for the HEV/EV battery pack. The liquid cooling system is made of multiple cooling plates with coolant flow paths. The cooling plates are inserted between the battery cells to reject the heat from batteries to coolant. In this study, the cooling plate with U-shaped coolant flow paths is considered to evaluate the effects of coolant flow condition on the cooling performance of the system. The counter flow and parallel flow set up is compared and the effect of flow rate is evaluated using CFD tool (FLUENT). The number of counter-flows and flow rate are changed and the effect on the cooling performance including average temperature, differential temperature, and standard deviation of temperature are investigated. The results show that the parallel flow has better cooling performance compared with counter flow and it is also found that the coolant flow rate should be chosen with the consideration of trade-off between the cooling performance and pressure drop.

• Journal of the Korean Society of Marine Environment & Safety
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• v.21 no.6
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• pp.712-720
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• 2015

The cabotage rule has been protecting the domestic industry from foreign competitions as a kind of trade barrier. In the United States, the shipbuilding industry has been maintained with the help of to the strict cabotage operations by reinforcing advantages for domestic crews and ships which are built in the U.S. For most countries, cabotage has been granted legitimacy in their coastal shipping by Low Carbon Transport in terms of economic and emergency reasons. The cabotage rule is required in the stable supply of the seafarers which rely on the legitimate maritime education. This study analyzes Korean cabotage system and the problems with regard to seafarers education. It is found that the resolution is set up the cabotage act such as Jones Act, U.S.

• International Commerce and Information Review
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• v.13 no.1
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• pp.55-76
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• 2011

America is traditionally friendly to South Korea. Last year in 2008, U.S. exports to South Korea totaled $32.4 billion. The U.S. and Korean must reciprocate economic exchange. The purpose of this study to measure the re-purchase intentions and product satisfaction in America image. The major result of article can be summarized as follows. The factors of this article have been divided into 'society safety', 'industrialization level', 'economic image', 'political image', 'cultural image', and 'the character of a nation'. In the empirical result of the article, the goods satisfaction for America country image would be shown in the results. The first, 'society safety', 'industrialization level', 'the character of a nation' are significantly positive statistically to goods satisfaction. The second, 'economic image', 'political image', 'cultural image' are not as significantly positive statistically speaking.

• Convergence Security Journal
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• v.13 no.1
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• pp.25-30
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• 2013

In this paper, the key performance index for advanced logistics is analyzed, and the specific requirements for the material flow IT services are proposed to improve the world competitiveness of the material flow industries and to implement the advanced logistics in Korea by survey research. The key performance index is classified into three types of efficiency, sustainability and economics, and two classes of enterprise and public for IT services are proposed. In addition to, for case studies, the survey analysis for the Pyeongtaek Port is performed to diagnose the material flow enterprise and to analyze the priorities of the IT services for Port's employee, trade enterprise, public service personnel, and local resident. From the results, to improve the productivity and efficiency of the enterprise, the secure the professional man-power and standardization are needed, and the automation, u-Port, green technology and material flow security for the IT services are required.

• International Area Studies Review
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• v.12 no.2
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• pp.149-173
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• 2008

This paper empirically studies the relationship between R&D expenditures and firms value. First, we can conjecture that R&D expenditures are enhancing the firms value. Such findings depend on an existing research, which R&D expenditures are intangible asset rather than expenses. Although, under U.S. accounting standards, financial statements do not report intangible assets but costs. Second, we can conjecture that short-term, the rate of increase in R&D expenditures had negative influence on firms valuation, because such findings indicates that R&D spending of costs incur mis-pricing. But long-term, consistently R&D expenditures may attract investors on the stock market. Third, lately firms focus on capital efficiency management, such a firms R&D expenditures incur high ROE. Generally investors put too much confidence in capital efficiency management and high ROE may attract investors on the stock market. Finally, High-Tech through the R&D investment improve firms competitive advantage, by competitive advantage, firms have reduced cost and raised productivity in the end improve firms value.