• The Bulletin of The Korean Astronomical Society
• /
• v.38 no.2
• /
• pp.78.1-78.1
• /
• 2013

The hierarchical model of galaxy formation predicts that galaxy halos contain merger relics in the form of long stellar stream. Thus, tidal substructure of stars around globular clusters, such as tidal tails, could be an essential evidence of the merging scenario in the formation of the Galaxy. From April 2010 to December 2012, we obtained $45^{\prime}{\times}45^{\prime}$ wide-field JHKs near-infrared photometric imaging data for about 20 globular clusters in the Milky Way, and examined the stellar density distribution around globular clusters. Here, we introduce the preliminary results of stellar spatial distributions and radial surface density profiles of four globular clusters. In order to minimize the field star contamination and identify the cluster's member candidates stars, we used a statistical filtering algorithm and gave weights on the CMDs of globular clusters. In two-dimensional stellar density maps, we could found tidal stripping structures for some globular clusters. The orientation of tidal substructure seems to associate with the effects of dynamical interactions with the Galaxy and cluster's orbit. Indeed, the radial surface density profile accurately describes this stripping structures as a break in the slope of profile. The observational results could give us further observational evidence of merging scenario of the formation of the Galaxy.

• Journal of Korean Society for Atmospheric Environment
• /
• v.17 no.E1
• /
• pp.9-16
• /
• 2001

To evaluate the correct separation capacity of cascade impactor for liquid aerosol, theoretical and experimental calculations of 50% cut-off diameter(ECOD(sub)50) were performed. A recalculation method of original diameter for hemispheric liquid aerosol collected on casecad impactor is also proposed newly using fixation technique. Calculated values for theoretical (ECOD(sub)50) of 40stage cascade impactor are 20, 6.4, 2.8, and 1.4$\mu\textrm{m}$ at 1st- ,2nd-, 3rd- and 4th-stage, respectively. A good agreement between the result of theoretical (ECOD(sub)50) and that og experimental ones was obtained at Stage 2 and 3. On the other hand, relatively large differences were found at Stage 1 and 4. Fixation for liquid aerosols using ${\alpha}$-cyanoacrylate monomer was performed successfully. The orignal diameter of liquid aerosols collected on each stage was calculated. The maximum levels of number size distribution curves at each stage are 19.8, 6.5, 3.1 and 1.5 $\mu\textrm{m}$ at 1st-, 2nd-, 3rd- and 4th-stage, respectively. The distortion of separation capacity of cascade impactor due to the split, merger, disappearance, and evaporation of liquid aerosols in the fluid did not occur.

• The Bulletin of The Korean Astronomical Society
• /
• v.39 no.2
• /
• pp.42.2-42.2
• /
• 2014

We investigate the history of formation of ~400 galaxies in four Abell clusters at 0.04

• The Bulletin of The Korean Astronomical Society
• /
• v.39 no.2
• /
• pp.49-49
• /
• 2014

Blue Compact Dwarf galaxies (BCDs) are low-mass galaxies with recently enhanced star formation activity. Since the discovery of old stellar population in the BCDs, a number of hypotheses have been suggested as the origin of the current active star formation. One theory is tidal interactions such as fly-by and merger. In this study we test this hypothesis using a pair of BCDs, ESO 435-IG20 and ESO 435-IG16 that are separate by only ~80 kpc in projection at a similar redshift (at a ~9 Mpc distance). In the HIPASS survey, intergalactic atomic hydrogen envelope has been found to be covering both galaxies, making the pair a good candidate for the case where the star formation has been triggered by tidal interaction. We probe the gas morphology and kinematics of the BCD pair using ATCA HI data in order to find the evidence of tidal interaction. We also estimate star formation rates in the pair based on Ha emission and UV continuum, and compare with other dwarf galaxies to investigate how responsible the tidal interaction is for the enhanced star formation in this case.

• The Bulletin of The Korean Astronomical Society
• /
• v.39 no.1
• /
• pp.41.2-41.2
• /
• 2014

Hierarchical merging scenario indicates that galaxies go through major and minor merger events during their formation and evolution. As a result of the merging, substructural features of remnants such as stellar stream are shown around a current galaxy system. To find evidence of stellar substructures on M31 system, we used the near-infrared images of JHK filters obtained from the Wide Field Camera (WFCAM) at UKIRT 3.8m. A total sky coverage is an area of about$ 4.5^{\circ}{\times}6^{\circ}$ around M31. Indeed, M31 system which consists of several satellite systems contains stellar substructures such as giant stellar stream, loops, and spurs. By analysing stellar populations on the near-infrared color-magnitude diagrams, we selected member star candidates of each stellar substructure, from which we map out spatial distribution of stars in the vicinity of M31 system. Here, we present spatial density distribution maps of stars on each substructure over the entire field of M31 system. Also, we discuss the possible origin of the substructures and the implications on the galaxy assembly process.

• The Bulletin of The Korean Astronomical Society
• /
• v.38 no.1
• /
• pp.57.2-57.2
• /
• 2013

Based on N-body simulations, we find out that significant fraction of dynamically formed BH-BH (10 $M_{\odot}$ and NS-NS (1.4 $M_{\odot$ ecah) binaries are ejected from globular clusters. About 30 percent of compact stars are ejected in the form of binary. The merging time of ejected binary depends on the velocity dispersion of globular cluster. Some of ejected binaries have merging time-scales shorter than Hubble time and are expected to produce gravitational waves that can be detectable by the advanced ground-based interferometers. The merger rates of ejected BH-BH and NS-NS binaries per globular cluster are estimated to be 3.5 and 17 per Gyr, respectively. Assuming the spatial density of globular clusters as 8.4 $h^3$ clusters $Mpc^{-3}$ and extrapolating to the horizon distance of the advanced LIGO-Virgo network, we expect the detection rates solely attributed to BH-BH and NS-NS with cluster origin are to be 42 and 1.7 $yr^{-1}$, respectively. Besides, we find out that BH-NS binary ejection hardly occurs in globular clusters and dynamically formed compact binaries may possibly be the source of short GRBs whose locations are far from host galaxies.

• The Journal of Asian Finance, Economics and Business
• /
• v.8 no.5
• /
• pp.785-793
• /
• 2021

The purpose of the research is to assess the factors affecting the liquidity of the commercial banks that are conducting mergers and acquisitions activities in Vietnam during the 2008-2018 period. This study employs samples based on 2-component data sets with cross-section and time-series data collected from the annual report of the State Bank and the audited acquisitions financial statements of nine commercial banks engaged in mergers and acquisitions activities. To carry out the research objectives, the authors conducted quantitative analysis through the Pooled OLS, REM, FEM and GMM models. The results shown that: (i) bank liquidity is positively affected by liquidity lagged, the return on equity (ROE) and economic growth; negatively affected by bank size, non-performing loan, short-run loan to deposit ratio; (ii) there is not enough evidence to conclude about the relationship between net profit margin, equity-to-assets ratio and inflation rate to bank liquidity; (iii) notably, we found evidence that, after the mergers and acquisitions, the liquidity of Vietnamese commercial banks decreased. The findings of this study suggest that bank managers take a more comprehensive view of the results of mergers and acquisitions and implications for banks to improve liquidity in the post-merger and acquisitions conditions.

• International Commerce and Information Review
• /
• v.18 no.4
• /
• pp.143-164
• /
• 2016

PICC are dealing with form requirements of international commercial contract under writings in confirmation, conclusion of contract dependent on agreement on specific matters or in a particular form, contract with terms deliberately left open, merger clauses, modification in a particular form. If a writing which is sent within a reasonable time after the conclusion of the contract and which purports to be a confirmation of the contract contains additional or different terms, such terms become part of the contract, unless they materially alter the contract or the recipient, without undue delay, objects to the discrepancy. Where in the course of negotiations one of the parties insists that the contract is not concluded until there is agreement on specific matters or in a particular form, no contract is concluded before agreement is reached on those matters or in that form. If the parties intend to conclude a contract, the fact that they intentionally leave a term to be agreed upon in further negotiations or to be determined by a third person does not prevent a contract from coming into existence. A contract in writing which contains a clause indicating that the writing completely embodies the terms on which the parties have agreed cannot be contradicted or supplemented by evidence of prior statements or agreements. However, such statements or agreements may be used to interpret the writing. A contract in writing which contains a clause requiring any modification or termination by agreement to be in a particular form may not be otherwise modified or terminated.

• Asia Marketing Journal
• /
• v.16 no.1
• /
• pp.35-69
• /
• 2014

The impact of competition on pricing has been studied in the context of counterfactual merger analyses where expected optimal prices in a hypothetical monopoly are compared with observed prices in an oligopolistic market. Such analyses would typically assume static decision making by consumers and firms and thus have been applied mostly to data obtained from consumer packed goods such as cereal and soft drinks. However such static modeling approach is not suitable when decision makers are forward looking. When it comes to the markets for durable products with indirect network effects, consumer purchase decisions and firm pricing decisions are inherently dynamic as they take into account future states when making purchase and pricing decisions. Researchers need to take into account the dynamic aspects of decision making both in the consumer side and in the supplier side for such markets. Firms in a two-sided market typically subsidize one side of the market to exploit the indirect network effect. Such pricing behaviors would be more prevalent in competitive markets where firms would try to win over the battle for standard. While such qualitative expectation on the relationship between pricing behaviors and competitive structures could be easily formed, little empirical studies have measured the extent to which the distinct pricing structure in two-sided markets depends on the competitive structure of the market. This paper develops an empirical model to measure the impact of competition on optimal pricing of durable products under indirect network effects. In order to measure the impact of exogenously determined competition among firms on pricing, we compare the equilibrium prices in the observed oligopoly market to those in a hypothetical monopoly market. In computing the equilibrium prices, we account for the forward looking behaviors of consumers and supplier. We first estimate a demand function that accounts for consumers' forward-looking behaviors and indirect network effects. And then, for the supply side, the pricing equation is obtained as an outcome of the Markov Perfect Nash Equilibrium in pricing. In doing so, we utilize numerical dynamic programming techniques. We apply our model to a data set obtained from the U.S. video game console market. The video game console market is considered a prototypical case of two-sided markets in which the platform typically subsidizes one side of market to expand the installed base anticipating larger revenues in the other side of market resulting from the expanded installed base. The data consist of monthly observations of price, hardware unit sales and the number of compatible software titles for Sony PlayStation and Nintendo 64 from September 1996 to August 2002. Sony PlayStation was released to the market a year before Nintendo 64 was launched. We compute the expected equilibrium price path for Nintendo 64 and Playstation for both oligopoly and for monopoly. Our analysis reveals that the price level differs significantly between two competition structures. The merged monopoly is expected to set prices higher by 14.8% for Sony PlayStation and 21.8% for Nintendo 64 on average than the independent firms in an oligopoly would do. And such removal of competition would result in a reduction in consumer value by 43.1%. Higher prices are expected for the hypothetical monopoly because the merged firm does not need to engage in the battle for industry standard. This result is attributed to the distinct property of a two-sided market that competing firms tend to set low prices particularly at the initial period to attract consumers at the introductory stage and to reinforce their own networks and eventually finally to dominate the market.

• Journal of the Korean Society of Marine Environment & Safety
• /
• v.15 no.3
• /
• pp.229-236
• /
• 2009

This paper intended to find rational alternatives for contracting-out of duties of the Busan port Pier Management Corporation, which is facing the merger and abolition, and of which main functions include the management of port facilities such as International Passenger Terminal, Cruise Terminal and Coast Passenger Terminal. This paper searched appropriate term, needs (merits), proper scope and cost of the contracting-out of that port facilities. The result of the analysis indicated that the best policy is to privatize the Busan port Pier Management Corporation itself to make it an private incorporated company.