• Parasites, Hosts and Diseases
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• v.26 no.2
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• pp.73-86
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• 1988

The sensitivity and specificity of crude and affinity-purified antigens of Clcnorchis sinensis obtained from the infected rabbits were studied. Stage-specific antigenic proteins from the eggs, metacercariae and adult worms were characterized by SDS-polyacrylamide gel electrophoresis (SDS-PAGE) and enzyme-linked immunosorbent astray (ELISA). The results were as follows: 1. The antibody.binding antigen (ABA) purified from whole worm crude antigen (IVWA) by CNBr-activated Sepharose 4B affinity chromatography made :l specific bands against rabbit antisera on Ouchterlony gel diffusion plate, while WWA made 7 bands. Major WWA protein bands by SDS-PAGE were found at 16, 300~18, 500 and 28, 000~29, 000 daltons, while major ABA protein bands were at 18, 000~21, 000 and 29, 000~31, 000 daltons. The reactivity of ABA with rabbit anti-sera in ELISA was remarkably less sensitive than that of WWA. 2. Molecular weights of egg antigen (EGA), metacercarial antigen (MEA) and adult worm antigen (WWA) of C. sinensis ranged from 15, 000-200, 000 daltons, 15, 000-100, 000 daltons and 11, 000~80, 000 daltons, respectively. Major WWA proteins consisted mainly of polypeptide bands of low molecular weight, less than 31, 000 daltons, while those of EGA and MEA consisted of higher molecular T.eights than 30, 000 daltons. 3. The ELISA reactivities of WWA to rabbit anti.sera were remarkably greater than those of MEA. EGA showed negative reaction throughout the experiments. WWA showed higher optical density (O.D.) than 1.0, when reacted with rabbit anti-sera obtained at 4~6 weeks after the infection. In the rabbit anti-sera later than 12 weeks after the infection, the O.D. reacting witll WWA showed a plateau without variation. MEA shoT.ed relatively low O.D. values (<0.6), when reacted with anti-sera from lightly in(ected groups throughout the experiments, althougll there were some wealth positive cases (O.D.>0.6) ill heavily infected groups. MEA reacted with rabbit anti-sera showed negative results on Ouchterlony gel diffusion plates. Summarizing the above results, it is suggested that the whole worm antigen prepared from the adult worms of C. sinensis is most highly antigenic. However, this antigen might reveal cross reactions with other trematodes such as Paragonimus westermani, therefore, purification of antigenic proteins from the crude antigen is essential 18 increase the sensitivity and specificity for the immuncdiagnosis of clonorchiasis.

• The Korean Journal of Financial Management
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• v.12 no.1
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• pp.167-186
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• 1995

기업인수합병(M&A) 시장의 활성화에 따라 적대적 공개매수를 방어하기 위한 반인수조치(Antitakeover Techniques)들에 관한 관심도 고조되고 있다. 지금까지 널리 알려져 있는 대표적인 반인수 조치들은 Fair Price Amendment(FPA), Classified Board Amendment(CBA)와 Poison Pills(PP) 등이다. 이들 대표적 세 반인수조치들 중에서 FPA와 CBA 채택의 경우는 주주들의 사전 승인이 요구되는데 반하여 PP는 주주들의 사전 승인없이 채택이 가능한 반인수조치이다. 이처럼 상이한 반인수조치들의 채택은 채택기업의 가치에 상이한 부의 효과를 미치는데, 이 분야의 많은 실증적연구 결과들이 보고되고 있다. 본 연구에서는 표본기업으로 현재까지 상호개별적으로 연구되어 왔던 두가지 반인수조치(FTA, CBA)에 PP와 비채택기업도 포함시키고 있다. 지금까지의 반인수조치 채택에 따른 기업가치에 미치는 부의 효과에 관한 연구결과를 확인해보고, 반인수조치 채택에 관한 경영자의 의사결정과 경영자의 부 사이에 체계적인 관계가 존재하는지를 실증분석하고자 한다. 여기서 경영자의 부는 기업내부자 지분율과 기업내 경영자를 위한 Golden Parachute의 존재 유무로 측정한다. 본 연구에서는 3개의 가설을 설정하였다. 가설1: 만일 경영자가 주주의 이익을 희생하면서 자신의 이익을 위한 반인수조치를 채택한다면, 반인수조치 채택의 공표는 평균적으로 기업가치에 부(-)의 효과를 보일 것이다. 가설2: 경영자의 내부지분율이 낮을때 경영자들은 주주에게 가장 해로운 반인수조치를 선택할 것이다. 가설3: Golden Parachute가 존재하지 않을때 경영자들은 주주에게 가장 해로운 반인수조치를 채택할 것이다. 본 연구의 대상기업들중에서 반인수조치 채택 기업들은 IRRC 1990년도판에서 수집되었고, 대칭표본 기업으로 반인수조치를 채택하지 않은 기업들은 CRSP 파일에서 기업규모, SIC 코드를 대응시켜 선정하였다. 임원, 관계이사들과 친인척을 포함하는 내부자의 지분과 Golden Parachute 존재 여부는 이 연구의 표본기업들의 Proxy Statement에서 수집하였다. 최종 표본기업은 FPA 채택기업, CBA 채택기업, PP채택기업, 그리고 비채택기업으로 4개의 상호 배타적인 기업 그룹으로 구성되었다. 본 연구는 Event Study와 Multinomial Logistic Regession의 두가지 실증분석 방법을 사용하였다. Event Study방법론은 반인수조치 채택 공표시 초과수익률을 조사하기 위해 사용하였다. Multinomial Logistic Regession은 선택된 반인수조치 종류와 설명 변수들(내부자 지분율, Golden Parachute)간에 체계적인 관계가 존재하는지를 검증하기 위해 사용되었다. 반인수조치들을 채택하는 기업들은 반인수조치를 채택하고 있지 않은 기업들에 비해 내부자 지분율이 낮게 나타났으며, 반인수조치 중 PP를 채택한 기업에서 가장 낮은 내부지분율을 보이고 있다. GP 채택을 보면 PP를 선택한 기업의 50%가 GP를 채택하였다. 본 연구에서 반인수조치 채택 발표일 하루 전후의 초과수익률을 조사한 결과는 반인수조치 미채택기업, CBA, FPA 채택기업들의 초과수익률은 통계적으로 의미가 없었으나, PP채택에 따른 초과수익률은 의미 있는 부(-)의 값을 나타냈다. 이와같이 CBA와 FPA채택기업들은 주주의 부를 감소시키지 않았으나 PP채택기업들은 주주의 부를 감소시켰다. 따라서 경영자는 주주의 이익을 희생시키면서 자신의 이익을 위해 PP를 선택하고 있음을 보여 주고 있다. 연구결과는 내부자 지분율의 크기가 경영자와 주주간의 이해를 효과적으로 일치시키고 있음을 제시하고 있다. 즉, 내부자 지분율이 큰 기업일수록 반인수조치를 채택하지 않거나 반인수조치 채택시에 주주의 이익에 반하지 않은 반인수조치를 선택하는 경향이 높다. Golden Parachute이 존재하는 기업은 FPA를 채택하거나 반인수조치를 채택하지 않는 것보다 PP나 CBA를 채택하는 경향이 더 높다. 한편 기업에서의 GP의 존재가 경영자의 가장 해로운 반인수조치 선택을 억제하지 못함을 보여주고 있는데, 이는 GP가 비효과적인 계약메카니즘임을 제기한다. GP가 경영자와 주주간의 이해를 일치시키도록하는 계약이라기 보다는 차라리 기업방어전략이 비효과적일때 경영자 자신의 안전판으로 제공되고 있음을 보여준다. 이 논문의 주요공헌은 기업내부자 지분율의 크기와 GP의 존재가 반인수조치 선택에 체계적인 영향을 미치고 있음을 보여준 것이다. 여기서 사용된 Multinomial Logistic모델은 내부지분을 크기와 GP의 존재가 PP또는 CBA가 채택될 것인지를 예측할 수 있게 한다.

• Journal of the Korean Society of Costume
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• v.35
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• pp.45-66
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• 1997

This thesis is a study on the kaftan styles iin Asia. The purpose of he study was to examine the origin o the kaftan concentrating on the history and cultural backgrounds of nomads in he Western Central and North Eastern Asia. Secondly for more thorough study and expla-nation on how these kaftans contributed to East-West trade along the silk road. wall paintings and miniature illuminations along Oasis roads persia and Saracen period were compared, Also real kaftans were compared and analyzed the characteristics of Western (Turkey palestine) Central(Kazakistan Uz-bekistan Tadzhistan Qyrgyztan Turkmenistan) and the North Eastern Asian(Mongol) area. Thirdly an attempt has been made to provide the North Eastern Asian(Mongol) area. Thirdly an attempt has been made to provide the style classifications according to their peculiarities of the various kaftans as well as how kaftan gave important influences on custumes of different religious sects. The kaftan is a long coat-like garment with front openings fastened with long sash having an extra long sleeves which were worn by middle and high class nomadics throughout the West Central and North Eastern Asia This type of kaftans were a basic clothing for nomadics since they were constantly moving fromone to another areas on their horse back riding. They also wore tight trousers with boots. Kaftans seem to be originated from nomads of Steppe around B.C. 800 On B. C 400 west asian areas such as Solokha Kul-oba Kulogan had pictures sculptues on vases showing kaftans of half coat type length with front opening tied with band. Also the materials used were the products of animals such as wool or felt with animal designs showing Scythian nomads. In the North Eastern Asia Hsiung-Nu were active in Kazakha North Altai and Mongol The Clothing and fabrics exfavated near Noin-ula Pazyrik showed many samples of kaftan with trousers with other interment be-longings with a corpse around B.C 300 to A. D 100 when trades along the silk roads were proven by many historians Kaftans excavated in this area wore red front opening silk materials which suggesting settling down of nomads. in he central Asia Dol-gull near Altai mountain area were mainly miners who later had many trades with Persia and Bizantine. After Dol-gull Bezeklik temple Samarkant Kizil cow Budda sculture wall paintings of Astana tomb showed typical kaftan of this re-gion. These were both hip covered length as well as long coat with narrow sleeves. Es-pecially they had different color band fron the main kaftan with grogeously and splendously designed silk. In perusia during A. D 1400 to 1600 minia-ture illumination showed kaftan as a high class symbol more than clothing purpose. They had best quality silk with extra long sleeves draping and had a layers of kaftans one on top of anther as a symbol of wealth These Kaftans with different colors and designs were even more beautiful with their effective combinations and contrast of colors. On the other hand the lower class common people and servants wore simple kaftan with the front part of the kaftan were slipped into the belt in order to be more active and con-venient to work, The real kaftans discovered at Topkapi Saray palace of Turkey from A. D 1300 to 1900 were also compared. These kaftans were very numerous in numbers as well as designs The materials and designs used were also vari-ous such as Chinese to Italian silk. The shaped and pattern itself were not much different from the previous nomad's Kaftans. The Palestian kaftans remained were from the beginning of 19th and 20th century. Since this area is hot and dry desert they used black and navy blue colors mostly in order to exclude the sun lights. The patterns used were similar to Nomads and Bedouin with cross stiches and patch work decorations. In the central Asia they had similar life style and natural environmental cnditions with Turkish tribe which resulted in similar kaftan styles as nomads. Mongols conserved basic patterns of kaftan since Cinggis Khan with deep folding in order to keep warm. At last the kaftans studided in this thesis were classified in to four such as half coat long coat jacket and vest style. A pattern used in the Central Asia were zigzag and ani-mal design whereas in the West Asia were floral plant arabesk and circle pattern. As I discussed previously kaftan styles of nomads in the Asia maintained its basic pat-tern throughout the history except slight changes in color gusset sleeve shapes. These slight changes were made according to the need to adapt the need of environmental natu-ral conditions, The reason for aboriginality of kaftan in Asia was its simplicity and con-venience Most interesting fact is that for all these years Mongols are still wearing kaftan in their life ensuring us that they art the preserves of old kaftan. Since this thesis dealt enormous Asian regions I had a limitation of not being able to cover the Far Esatern asian areas such as Korea China and Japan how these kaftans were influenced in their clothing history as well as Eastern and Western culture. This topic along with the studies on materials and designs of patterns of kaftan will be another research project in the future.

• Cartoon and Animation Studies
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• s.30
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• pp.139-168
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• 2013

This article aims to explain the significance and value of cartoons in the 1910s which were largely passed unnoticed in the preceding cartoon studies by scrutinizing cartoons published in Maeilsinbo in the 1910s. Until now, Korean cartoons in the 1910s has been neglected just because it were published in Maeilsinbo. However, this writing analyzed cartoons in this period on the base of the fact that the cartoons in the 1910s printed in Maeilsinbo diversified the horizon of the Korean cartoon. Cartoons in Maeilsinbo functioned as a bridge connecting cartoons published in Daehanminbo in 1909 reputed as a root of Korean cartoon and 1920s, the time when satirical cartoons and comics started being printed in newspapers. The characteristics of Maeilsinbo as a bulletin of government general and periodical characteristics that the agent of popular culture begun to move reside as multi layers in the cartoons in the 1910s. In this article, the process and the development of how cartoons published in Maeilsinbo. As pleasure became important in everyday life in Korea, cartoons were able to earn a portion in the newspaper. In the beginning, modern cartoon style seemed vague, but as time goes by, its own style gradually settled. Cartoons in this period were not fixed in specific section but various kinds of cartoons were developed during the time since works of Korean as well as Japanese cartoonists and illustrators were published. Among them, representative cartoons in Maeilsinbo were analyzed in this article under three categories: first, cartoons represented 'Choseon-ness' through scenes of daily life and customs concurrently contained a view of anti-civilization/enlightenment; second, cartoons represented the accumulation of wealth as valid from the view point of public interest; last, cartoons divided Koreans who suffered from hardships of life in Kyungsung and Japanese in Jingogae in order to divide space. In conclusion, Maeilsinbo disciplined the colonized, Koreans, and exposed the discourse of the colonial power via cartoon.

• Journal of Korea Technology Innovation Society
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• v.20 no.1
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• pp.1-33
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• 2017

In the last decades, technology-oriented small firms, i.e. venture businesses, have been increasingly engaged in R&D collaborations with external parties as strategic means for technological innovation. Despite ample evidence on the benefit of such collaborations for the firms, there has been less attention to examining whether and how the firms' social interactions with cooperating partners and their managerial characteristics contribute to that benefit. Drawing on the theories of social capital and entrepreneurial orientation, this study is to remedy this gap. The theory of social capital, referring to a sum of the value and potential resources embedded in social relationships of collectives, provides an integrated view of social factors among cooperating partners, e.g. strong ties, network stability, trust, reciprocity, shared vision and value. It categorizes these factors into structural, relational, and cognitive dimensions of social capital. Entrepreneurial orientation theory captures firms' managerial characteristics as a combination of innovativeness, proactiveness, and risk-taking. This addresses firms' managerial process to utilize and combine internal and external resources for wealth creation and opportunity realization. Against this background, this study investigates what roles social capital among cooperating R&D partners and entrepreneurial orientation of the collaborating firms play for collective performance improvement in R&D collaborations. In terms of the collective performance, this study adopts two indicators: technological competitiveness and business performance. Technological competitiveness refers to the contribution of a technology developed by a cooperative R&D project to competitive advantage of a firm while business performance is defined as the financial and economic outcome of a collaboration. Using a sample of 218 Korean ventures engaging in R&D collaboration with external parties, the author finds the significant effects of social capital (i.e. structural, relational, and cognitive dimensions) and entrepreneurial orientation (i.e. innovativeness, proactiveness, and risk-taking) on both of the technological competitiveness and the business performance. Further, the higher the social capital among R&D partners, the more likely it is to foster the entrepreneurial orientation at firm-level. Most importantly, the entrepreneurial orientation at firm-level is an significant mediator of the relationship between social capital and collective performance. Beyond these novel empirical findings, this study contributes to the literature on R&D collaboration. The findings' implications for management and policy are deeply discussed in the conclusion.

• Journal of the Korean Institute of Traditional Landscape Architecture
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• v.32 no.2
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• pp.134-147
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• 2014

The purpose of this study is, focusing on the ancient paintings and literatures, by examining Flowering Plants and drawing their cultivating methods, to provide a ground of utilizing them on the modern landscaping. In the scope and method of this study, 766 pieces of ancient paintings(6 garden paintings and 760 folk paintings) which were available and had value as literatures, and 8 of ancient literatures were intensively examined. Main results extracted from them are as follows. First, the most frequently used Flowering Plants in Joseon Dynasty were Prunus mume, pbyllostachys, Nelumbo nucifera, Chrysanthemum morifolium, Musa basjoo, Rosa spp., Rhododendron mucronulatum, Paeonia lactiflora, which appeared 11 times to 16 times in total. Next frequently(4 times to 8 times) used Flowering Plants were Gardenia jasminoides, Punica granatum(8 times), Dianthus chinensis, Vitis vinifera(7 times), Orchidaceae, Syringa velutina, Impatiens balsamina, Hemerocallis fulva, Celosia cristata, Hibiscus Syriacus, Rhododendron indicum(6 times), Rhododendron, Rhododendron obutusum, Acorus calamus, Althaea rosea, Kerria japonica, Citrus junos(5 times), Hibiscus mutabilis, Lychnis cognata, Calendula officnalis, Begonia rex., Helianthus annuus, Papaver spp., Narcissus tazetta, Daphne odora, Hosta plantaginea(4 times). Second, usage of the Flowering Plants in Joseon Dynasty can be divided into character building and horticulture for pleasure through positive, scientific approach attempt. It suggests that there might have been classes in the use of them and we can estimate which plants were particularly preferred. Third, in the symbolicity of the usage of Flowering Plants, it can be divided into three parts: The case of representing integrity, gentleman, honesty and nobility and the thought of loyalty and filial piety under the influence of Confucianism. The case of representing Taoism's thought of hermit and perennial youth and long life. The case of representing wish on wealth and prosperity. So if we make a good use of it, we may draw a meaning of cultivation of Flowering Plants from it. This is your target audience or the good luck to all he plants is aimed at, you can see the occurred. Fourth, the Joseon Dynasty was the use of flowering plants are the line of rain wanted to be more consistent with the spirit world. This is shown as a symbol of their ancestors. Joseon Dynasty was used, resulting in a kind of flowering plant and is not a subjective judgement criteria A psychological approach to the side when interpreting the Joseon Dynasty flowering plants to take advantage of the landscape of the area will widen in scope.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.1
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• pp.95-112
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• 2020

This paper is to investigate how cognitive bias of college students and entrepreneurs relates to perceived risks and entrepreneurial opportunities that represent uncertainty, and how various cognitive bias and entrepreneurial efficacy In the same way. The purpose of this study is to find improvement points of entrepreneurship education for college students and to suggest problems and improvement possibilities in the decision making process of current entrepreneurs. This empirical study is a necessary to improve the decision-making of individuals who want to start a business at the time when various attempts are made to activate the start-up business and increase the sustainability of the existing SME management. And understanding of the difference in opportunity evaluation, and suggests that it is necessary to provide good opportunities together with the upbringing of entrepreneurs. In order to achieve the purpose of the study, questionnaires were conducted for college students and entrepreneurs. A total of 363 questionnaire data were obtained and demonstrated through structural equation modeling. This study confirms that there is some relationship between perceived risk and cognitive bias. Overconfidence and control illusions among cognitive bias have a significant relationship between perceived risk and wealth. Especially, it is confirmed that control illusion of college students has a significant relationship with perceived risk. Second, cognitive bias demonstrated some significant relationship with opportunity evaluation. Although we did not find evidence that excess self-confidence is related to opportunity evaluation, we have verified that control illusions and current status bias are related to opportunity evaluation. Control illusions were significant in both college students and entrepreneurs. Third, perceived risk has a negative relationship with opportunity evaluation. All students, regardless of whether they are college students or entrepreneurs, judge opportunities positively if they perceive low risk. Fourth, it can be seen from the college students 'group that entrepreneurial efficacy has a moderating effect between perceived risk and opportunity evaluation, but no significant results were found in the entrepreneurs' group. Fifth, the college students and entrepreneurs have different cognitive bias, and they have proved that there is a different relationship between entrepreneurial opportunity evaluation and perceived risk. On the whole, there are various cognitive biases that are caused by time pressure or stress on college students and entrepreneurs who have to make judgments in uncertain opportunities, and in this respect, they can improve their judgment in the future. At the same time, university students can have a positive view of new opportunities based on high entrepreneurial efficacy, but if they fully understand the intrinsic risks of entrepreneurship through entrepreneurial education and fully understand the cognitive bias present in direct entrepreneurial experience, You will get a better opportunity assessment. This study has limitations in that it is based on the fact that university students and entrepreneurs are integrated, and that the survey respondents are selected by the limited random sampling method. It is necessary to conduct more systematic research based on more faithful data in the absence of the accumulation of entrepreneurial research data. Second, the translation tools used in the previous studies were translated and the meaning of the measurement tools might not be conveyed due to language differences. Therefore, it is necessary to construct a more precise scale for the accuracy of the study. Finally, complementary research should be done to identify what competitive opportunities are and what opportunities are appropriate for entrepreneurs.

• Journal of the Korean Society of Costume
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• v.24
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• pp.15-28
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• 1995

This thesis focuses on the study of costume and ornaments of Shilla which had been severely affected by Uighur, and those of Uighur in Uighur self-governing district located in Shin Kang. East Turkestan, in Centrals Asia. This study aims to identifty the way of intergration of Uighur's costume and ornaments into Shilla, and orgins of Shill's costume and ornaments which had amix of internationl elelemnts thoursh cross exchanges, by comparing the differences between the two, and at the same time to clarify the pedigree of Korean costume and ornaments which are said to be udner a severe Chinese influence, by highlingting its uniqueness and originality . The result of the study demonstrates and originality of SHilla by melting foreign cultures into its own style in the process of accepting them. This means that the Shilla has recreated them in t도 form of simplification, and added naturalistic abstratness which is an element of Norther culture. The costume and ornaments are divided into coronets men's costuem, women's costume, and accessories 1. Coroncts A horse-riding man, and the costume type of 유고제 착유지체형 tell the Northern culture's influence on 백화수피기마인물채화담립 and patterns of a lotus flowr and arabesque show the 백화수피기마인물채색답립 has an influence of Buddhism with cluture of bordering countries of Western China , The origin of 뱍회수피제안형건(원정형, 방정형) lies in Northern cultures which can be found in ancient tombs of the Huns in noin-Ila , and stone caves of Jizil in Kochang. The wall paintings in Alexandropol, Murutuk and 돈황 No. 409 cave show that 초화형입식계금관 is under the influence of Northern culture, and Bezerkrick No, 25 cave and 회 번 in Kocho also show 수목녹각형입식관 is under the influence of Northern culture, with its origin in Novecherkaask. In this regard, the transformed coroncts of Shilla has shows a blended culture of Shilla with Nothern, Chinese, and Western cultures. 2. Men's Costume 반령포 derives from cultures of bordering countries of Western China centering around Uighur and Turkey. 연주문 in Uighur prince's costume and in Uighur paintings of Central Asia were reflected into the arts of Shilla in a direct way, and the motive of Uighur was deviatelly expressed at Shilla's arts in the form of simplicity , and naturalistic abstract paintings as in shown at 입수쌍조문 in tiles and brick. Along with this , 고착지체형 costume originates from Eurasia's Northern horseriding costumes as was shown in a golden man in B.C.4-5C which is now possessed by Kazakstan Republic Academy Archelogy Center Museum, and a golden figure from Skitai ancient caves, an the origin is carried away into wall paintings of Kizil No.14. cave in 8c and Astana's early period ancient tomb. No.6. 3. Women's Costume The hair styles of Shilla people are either 변발 or up -style with a lot of hair around it whose origin can be seen in Astana No.216 and No.187 caves of Kochang and Uighur's wall paintings of royal princess's hair style. Astana's middle period No. 206 and No.230 tombs reveal the its origin of 고착장군 while Astana early period No. 6 tomb shows that of 광유풍만형. 4. Accessories The earrings with small golden beads is seen at earring of figure holding a sword in wall painting of figure holding a sword in wall painting of Kizil in about 5 C. and those of a offering people in Sorchuk wall paintings. The earrings with small golden beads originates from a golden pendant of Shivargan, Afganistan, and golden pendants and other golden and metal accessories from Chrioba ancient tombs in Skiti Critia peninsula. Shilla's costume derives from the costume style of horse-ridding man, which proves the fact that Shilla people are horse-ridding peoplewith excellent horse-ridding techniques, and traditions. The people of Shilla are from horse-ridding people of local mounted momads in Northern part of Siberia steppe and this origin of Northern culture had been carried into Uighur in East Turkestan. At the same time , Shilla has a wealth and power since it was rich in gold and iron , thus producing lots of materials made of them. The results of this study emphasizes Shilla's identity and self-control by creating an independent an innovative heterogeneous culture since Shill's active exchanges with East Asia allowed it to accept the most civilized Uighur culture in East Turkestan among Altai languate which had frequent cross contacts with India and Europe.

• Information Systems Review
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• v.18 no.1
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• pp.157-175
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• 2016

Under the market economy of capitalism, several limitations reveal the inequity and redistribution problem of wealth, inefficiency of over-manufacturing and over-consumption, pollution of the natural environment, and the constraint of human liberty and dignity. The new challenge of symbiotic relationships that encourage individual corporations coincides with the need to practice social responsibility and share values to overcome these limitations. Social economy and the social enterprises that simultaneously pursue the making of corporate private profits and the realization of social values have been suggested and disseminated as alternative social value creators. Furthermore, the concept of a sharing economy, which refers to the sharing of things rather than owning them, is growing traction as a new paradigm of capitalism. However, these efforts of social enterprises have fallen short against the conflicts between private profit and social values. This study deals with the case of a start-up social corporation, "Purun Bike Sharing Inc.," which is based on a regional sharing economy business model about bike rental services that use Information and Communication Technology (ICT). This corporation pursues harmonic management to achieve a balance between private profit and social value. Its corporate mission is to achieve sharing, coexistence, and contribution for public welfare. This mission is a possible idea for use in the local community network as a core key for sustainable social enterprises. The model can also be an alternative approach to overcome the structural friction in the social corporation. This study considers the case of Purun Bike Sharing as a sustainable way to practice a sharing economy business model based on a regional cooperation network, which can be combined with social value, and to apply ICT to a sharing economy system. It also examines the definition and current state of social enterprises and the sharing economy, and the cases of the sharing economy business model for the review of prior research.

• KDI Journal of Economic Policy
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• v.13 no.4
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• pp.31-57
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• 1991

Korean firms of all sizes, from virtually every industry, have used and are using the term "excessive competition" to describe the state of their industry and to call for government interventions. Moreover, the Korean government has frequently responded to such calls in various ways favorable to the firms, such as controlling entry, curbing capacity investments, or allowing collusion. Despite such interventions' impact on the overall efficiency on the Korean economy as well as on the wealth distribution among diverse groups of economic agents, the term "excessive competition", the basis for the interventions, has so far escaped rigorous scrutiny. The objective of this paper is to clarify the notion of "excessive competition" and "over-investment" which usually accompanies "excessive competition", and to examine the circumstances under which they might occur. We first survey the cases where the terms are most widely used and proceed to examine those cases to determine if competition is indeed excessive, and if so, what causes "excessive competition". Our main concern deals with the case in which the firms must make investment decisions that involve large sunk costs while facing uncertain demand. In order to analyze this case, we developed a two period model of capacity precommitment and the ensuing competition. In the first period, oligopolistic firms make capacity investments that are irreversible. Demand is uncertain in period 1 and only the distribution is known. Thus, firms must make investment decisions under uncertainty. In the second period, demand is realized, and the firms compete with quantity under realized demand and capacity constraints. In the above setting, we find that there is "no over-investment," en ante, and there is "no excessive competition," ex post. As measured by the information available in period 1, expected return from investment of a firm is non-negative, overall industry capacity does not exceed the socially optimal level, and competition in the second period yields an outcome that gives each operating firm a non-negative second period profit. Thus, neither "excessive competition" nor "over-investment" is possible. This result will generally hold true if there is no externality and if the industry is not a natural monopoly. We also extend this result by examining a model in which the government is an active participant in the game with a well defined preference. Analysis of this model shows that over-investment arises if the government cannot credibly precommit itself to non-intervention when ex post idle capacity occurs, due to socio-political reasons. Firms invest in capacities that exceed socially optimal levels in this case because they correctly expect that the government will find it optimal for itself to intervene once over-investment and ensuing financial problems for the firms occur. Such planned over-investment and ensuing government intervention are the generic problems under the current system. These problems are expected to be repeated in many industries in years to come, causing a significant loss of welfare in the long run. As a remedy to this problem, we recommend a non-intervention policy by the government which creates and utilizes uncertainty. Based upon an argument which is essentially the same as that of Kreps and Wilson in the context of a chain-store game, we show that maintaining a consistent non-intervention policy will deter a planned over-investment by firms in the long run. We believe that the results obtained in this paper has a direct bearing on the public policies relating to many industries including the petrochemical industry that is currently in the center of heated debates.