• Digital Contents
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• no.6 s.85
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• pp.58-61
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• 2000

최근 들어 벤처 기업들 간의 손잡기가 눈에 띄게 늘고 있다. 이는 굳이 합병이나 인수의 형태가 아니라도 업무 제휴 기술제휴, 공동개발, 공동 출자등 다양한 형태로 나타나고 있다. 이것은 비단 우리나라만의 현상이 아니다. 미국 또한 이미 수년 전부터 벤처기업들 간의 인수 합병이 있어왔고 현재까지 이어지고 있다. 우리나라의 경우 아직도 두렷한 인수나 합병은 나타나지 않고 있다. 이것은 여러가지 측면에서 분석이 가능하다.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.11 no.6
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• pp.1-9
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• 2016

In this study, we investigate the announcement effects of M&As with a start-up as a target firm on shareholder wealth of an acquiring firm. We use M&A events in KOSPI or KOSDAQ market between 2002 and 2014 after the financial crisis. Among the total 1436 mergers and acquisitions that took place domestically during this period, 1383 cases were selected as cases to be studied, excluding 53 cases where acquiring firms were unlisted firms. The results of the analysis are as follows: First, as a result of a comparison between the acquiring firms' CARs of the whole sample group(n=1383) occurred during the (-2, +1), (-5, +2), (-10, +5) periods of M&A announcement date(t=0) and the sub-sample group(n=468) where the target firms are start-ups which were established within five years, the acquiring firms of the whole sample group do not show significat CARs, while the acquiring firms of the sub-sample group show the significantly positive CARs. This suggests that M&A with start-ups have a positive effect on firm value of acquiring firms. Second, when merging unlisted start-ups, the acquiring firms show positive CARs, showing that there exists a listing effect in the merger of start-up. Third, merging the start-ups belonging to the high-tech industry shows the higher CARs than the case of merging the start-ups belonging to the non-high-tech industry. This study has great significance as the first in Korea to investigate the effect of M&A announcement with a start-up.

• Nuclear Engineering and Technology
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• v.23 no.2
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• pp.219-232
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• 1991

Radioactive waste accepted to the repository of land disposal should have the capability of a safe isolation. To develop those requirements and evaluation techniques, the foreign criteria and the important characteristics, relevant to waste forms and management processes, were reviewed. Based on such studies as the evaluation techniques, “general acceptance criteria”that the radioactive waste forms generated in Korea should be met were suggested.

• Journal of Institute of Control, Robotics and Systems
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• v.4 no.3
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• pp.301-307
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• 1998

이 논문에서는 다항식 서로소 인수로 표시되는 위너-호프 제어기의 계산상의 어려움을 극복하기 위하여 상태공간 변수 공식이 개발되었다. 위너-호프 인수 행렬을 이용하여 주어진 다항식 서로소 인수로부터 안정 유리행렬의 서로소 인수를 구하였으며 이 결과를 이용하여 위너-호프 제어기의 공식을 유리행렬의 서로소 인수로 표현한 후 이를 이용하여 상태공간 계수를 구하였다.

• Journal of the Korea Institute of Information Security & Cryptology
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• v.20 no.3
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• pp.3-8
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• 2010

There are some efficient brute force algorithm for factorization. Fermat's factorization is one of the way of brute force attack. Fermat's method works best when there is factor near the square-root. This paper shows that why Fermat's method is effective and verify that there are only one answer. Because there are only one answer, we can start Fermat's factorization anywhere. Also, we convert from factorization to finding square number.

• Journal of Nuclear Fuel Cycle and Waste Technology(JNFCWT)
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• v.12 no.2
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• pp.165-169
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• 2014

In order to use the nuclear energy as the sustainable energy source, the safe and efficient management of radioactive wastes generated from the nuclear fuel cycle including NPP decommissioning is one of the most important factors. The establishment of acceptance criteria for very low level radioactive wastes generated from decommissioning of nuclear power plant in a large quantity is seemed to play a key role for developing a radioactive wastes disposal strategy as well as NPP decommissioning strategy. In this thesis, we want to review the acceptance criteria of low-and-intermediate-level radioactive wastes in this country through the analysis of other country's acceptance criteria.

• Management & Information Systems Review
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• v.35 no.4
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• pp.79-98
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• 2016

A large number of Chinese enterprises have grown up and become increasingly competitive. Chinese firms have ventured abroad to search for new sources of growth. Overseas mergers and acquisitions of Chinese companies has been developed rapidly through extensive opening policy and active support system by government. The main purpose of this study is to identify the factors that affect the outcomes of overseas mergers and acquisitions made by Chinese firms in recent years, particularly, financial performance of the acquiring firms. This study aims to analyze systematically financial performance and its determinants of Chinese overseas M&A in recent years. This study chooses a sample of 167 overseas mergers and acquisitions in the manufacturing industry in China and the relevant data were collected during the period 2006 to 2012. The data were analyzed by using a multiple regression analysis to identify determinants of corporate performance. We showed that cultural distance, past performance, state ownership, and interaction between cultural distance and past performance. Findings of this study can provide useful guidance to outward Chinese M&A in the future.

• Proceedings of the Korea Institute of Fire Science and Engineering Conference
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• 2010.10a
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• pp.52-62
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• 2010

우리나라 손해보험 업계의 경영실적을 보면 2003년부터 2007까지 5년간 연평균 1조 1,130억원의 당기순이익이 발생하였으나 이는 투자이익에 기인한 것이고 손해보험사업 본업인 보험영업 손익에 있어서는 연평균 5,218억원의 손실을 기록하고 있다. 이와 같이 손실이 발생한 원인은 손해율 증감에 따른 보험요율의 조정미흡, 손해율상승 및 사업비 증가 등의 요인이 있으나 근본적인 요인은 해외 출수재의 불균등과 과다한 해외출재로 인한 수지차의 역조현상에 기인하고 있다. 특히 화재위험을 담보하고 있는 보험상품인 화재보험과 재산종합보험의 출재보험료는 약3,670억원으로써 전체 해외출재보험료에서 가장 높은 30.8%를 차지하고 있다. 이는 방재기술(Loss Control)의 활용미흡과 방재기술에 근간을 두고 있지 못한 보험인수 정책 즉 언더라이팅(Underwriting)기법의 낙후 때문이라고 할 수 있다. 따라서 전통적인 보험 상품인 화재보험에서 보험인수시 물건의 위험도를 측정할 수 있는 화재위험도 평가기법이 필요하고 이를 근간으로 위험을 인수하고 보유의 규모를 결정할 수 있는 체계의 구축이 필요한 실정이다. 이에 본 연구에서는 특정물건의 화재보험 인수과정에서 건물에 내재된 잠재 화재위험의 고저 또는 양 불량을 판정할 수 있는 화재위험도 평가 모형을 개발한 후 이 평가 모형에서 산출된 화재위험도보유계수를 활용하여 보유금액을 결정할 수 있는 보험인수 모형을 도출 하였다.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.10 no.3
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• pp.85-97
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• 2015

This study examined the effects of outside directors and CEO duality on acquisition strategies and performance of Korean firms in high-technology industry. Based on the resource dependence theory, we focused on the service and resource-dependence roles from board of directors in the process of decision-making of acquisition strategies. In addition, CEO opportunism behavior rises when CEO serves as chairperson of board and induces the negative effects on acquisition performance. Specifically, we investigated the interaction effects between outside directors ratio and CEO duality. For the period of 2004 to 2012, 246 acquisitions of Korean firms in high-technology industry were analyzed to test our intended hypotheses. Our results indicate that there exist positive relationship between outside director ratio and acquisition performance for Korean high-technology firms. Negative associations prevail between CEO duality and performance consequences of acquisitions. While outside director ratio has a positive effect on acquisition performance when there is a presence of CEO duality, negative effect prevail for outside director ratio on acquisition performance in the absence of CEO duality position to hold our interaction hypothesis. The favor of dual structure can be explained with implications referring to unity of command and strong leadership driven from CEO duality that enhances the resource dependence roles of board of directors in the context of high-technology industry acquisition behaviors rendered by Korean firms.

• Journal of Nuclear Fuel Cycle and Waste Technology(JNFCWT)
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• v.6 no.4
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• pp.347-356
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• 2008

The purpose of Radioactive Waste Acceptance Criteria(WAC) is to verify a radioactive waste compliance with radioactive disposal facility requirements in order to maintain a disposal facility's performance objectives and to ensure its safety. To develop WAC which is conformable with domestic disposal site conditions, we furthermore analysed the WAC of foreign disposal sites similar to the Kyung-Ju disposal site and the characteristics of various wastes which are being generated from Korea nuclear facilities. Radioactive WAC was developed in the technical cooperation with the Korea Atomic Energy Research Institute in consideration of characteristics of the wastes which are being generated from various facilities, waste generators' opinions and other conditions. The established criteria was also discussed and verified at an advisory committee which was comprised of some experts from universities, institutes and the industry. So radioactive WAC was developed to accept all wastes which are being generated from various nuclear facilities as much as possible, ensuring the safety of a disposal facility. But this developed waste acceptance criteria is not a criteria to accept all the present wastes generated from various nuclear facilities, so waste generators must seek an alternative treatment method for wastes which were not worth disposing of, and then they must treat the wastes more to be acceptable at a disposal site. The radioactive disposal facility WAC will continuously complement certain criteria related to a disposal concentration limit for individual radionuclide in order to ensure a long-term safety.