• The Korean Journal of Financial Management
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• v.20 no.1
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• pp.331-339
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• 2003

We investigate long-run relationships between industry relatedness, operating performance, and stock performance after equity carve-outs(ECO). For homo-industry ECOs, 12-month CAR of subsidiary firms is 26.52% and significantly positive at the 5% level and BHAR is 22.19%. For hetero-industry ECOs, subsidiary 12-month CAR and BHAR are 35.14% and 39.64%, respectively, which are significant at the 1% level. On the other hand, long-run performance of parent firms is insignificant for any sub-sample. Excess operating performance of subsidiaries is significantly positive at the first year and insignificant thereafter. The lower the offering ratio is and the better the operating performance is, the better the subsidiary stock performance is. Unlike IPOs and SEOs, shareholders of subsidiaries benefit from ECOs and parent stocks do not underperform. Hetero-industry ECOs improving corporate focus are more effective restructurings than homo-industry ECOs.

• Journal of the Korea Organic Resources Recycling Association
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• v.20 no.4
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• pp.61-74
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• 2012

Industrial complexes in Korea have been vigorously established by economic development plan and development policy of industry in 1960s. Recently, Korean government has promoted Eco Industrial Park (EIP) project to recycle by-products and wastes in industrial park In this study, we analyzed the physical and chemical properties for the sludges discharged from A industrial complex. And we investigated the economic feasibility and environmental impact of sludge to energy facilities. The analysis results indicated that the petrochemical industry were 92% in sludge production, the highest treatment amount was landfill, followed by incineration and recycling and then ocean disposal. Wastewater sludge and process sludge samples are collected and analyzed to use as basic data on economic feasibility and environmental impact. Weighted average heating value of sludge samples was 3,891kcal/kg. Based on this data, installation and operation costs, operation returns of operating the drying facility are estimated, compared with cogeneration facility. And this study examines how the payback period of each simulation(total 8 case) with the important parameter changes. As a result, it was found that what needs the shortest payback period is 3years with connection of drying facility and cogeneration facility based on the government's financial subsidy system.

• Journal of the Korean Association of Geographic Information Studies
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• v.13 no.3
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• pp.74-90
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• 2010

The objectives of this paper are to introduce the GIS based resource circulation information, and to identify additional(or potential) industrial symbiosis based on existing industrial symbiosis and linkage-pair of industry by material. The resource circulation information contains information of the reuse of materials, water, and energy for all manufacturing companies in Ulsan Metropolitan City. The information can further be classified into the three steps -- input information(raw materials), flow information (products), and output information (by-products). The survey data from 3,768 industries and institutions in Ulsan Metropolitan area were collected and built into the GIS to analyze the mechanism of the industrial symbiosis. The results of this study strongly suggest that there are some additional industrial symbioses using by-products(materials, steam, waste water) and further efforts should be given to make them more effective. We expect that the methodology of building the resource circulation information of this study can be helpful to other local governments that try to build similar system.

• The Journal of The Korea Institute of Intelligent Transport Systems
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• v.18 no.2
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• pp.1-11
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• 2019

The accident of mass transit such as a bus could draw the large casualties and this induces social and economic losses. Recently, severe bus accidents caused by tiredness and inattention of bus drivers occurred and those lead to growing interest in bus accidents and the drivers' work environment. Therefore, this study analyzes the accident based on the work environment of bus drivers and route-bus categories. For the research, this study collected digital tachograph data and the bus company information for 271 domestic bus companies in 2017 and used ANOVA test and chi-square test as statistical methodologies. As a result, we figured out there are statistically significant differences in the accident according to the working environments. Especially, the present study confirmed the intracity bus with working every other day has the most frequent accidents. We expect that the results of this study be used as foundations for the improvement of working conditions to reduce route-bus accidents in the future.

• Journal of Satellite, Information and Communications
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• v.10 no.3
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• pp.68-72
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• 2015

The railway system has been recognized as one of the best eco-friendly advanced transportation systems. Furthermore, the improvement of the passenger transportation quality and the energy saving have been studied for being the most competitive transportation system. However, most of the studies have been mainly focused on the improvement of the transportation efficiency and energy saving because of the characteristics of the urban railway which serves the unspecified multiple passengers. In this paper, the 3-dimensional vibratory lateral acceleration has been measured in various environments for the automatic and manual operation modes of the general train and express train in the urban railway lines. In terms of the improvement of the passenger transportation quality, the comparison analysis of the ride quality is carried out based on the measured 3-dimensional vibratory lateral acceleration and the statistical techniques of UIC513R suggested by the International Union of Railways.