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Survey Studies on Serviceable Sericultural Communities in Korea (養蠶適地選定에 관한 調査硏究)

  • Choe, Byong-Hee;Gwon, Yeong-Ha;Mun, Jae-Yu;Baek, Hyeon-Jun;Lee, Geon-Yeong;Lee, Sang-Pung;Lee, Won-Ju;Im, Su-Ho;Jo, Dong-Ok;Kim, Seong-Ho;Hwang, Hong-Do;Kim, Gi-Seok;Kim, Su-Gyeong;Go, Nak-Yong;So, Byeong-Ju;Lee, Geon-U;Lee, Jae-Ok;Im, Dong-Rak;Jo, Jin-Gu
    • Journal of Sericultural and Entomological Science
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    • v.25 no.1
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    • pp.34-43
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    • 1983
  • These studies have been carried out to find better locations for sericultural service regardless of the international silk market fluctuation in Korea. In order to acieve the purpose, various investigations and analyses have been carried out for more than four hundred sericultural communities to find out the main factors which caused to decrease in cocoon production in spite of a gloomy past silk market. Now, we believe that we have set up some fundamental guide lines in developing sound serviceable sericultural communities in Korea in case the government accepts the written advices, and the results obtained are as follows: 1. The Korean sericulture has been very prosperous from the 60's to the 70's. In 1976 the cocoon production was at its peak, reaching 41,704M/T from which its decline took place with annual averages of 18.5% for total cocoon production and 16.4% for mulberry field. These figures represent a quantitative decrease to one-third of the total amount in 1976. Since then, the Korean sericulture had continuously suffered from a shortage of raw silk resulting in a slow development of sericulture. At present, a steady development through all possible measures is great importance. 2. The downfall of the korean sericulture resulted from two factors of such as the external, which led to the decline in the price of raw silk at the international market and restrain of import and, the internal, resulting in the little increase of cocoon price and a comparatively lower benefits from the sericulture than from other cash crops. 3. The already established sericultural zone collapsed and then reorganized with the outstanding regional specialization so the decline in total cocoon production in the country. Based on the agricultural regions, 1980 cocoon production was very stable in the mountaineaus area of the east-south which used with intercropping. In this area there was small decline of 33% compare with that of the 1979, and with 70% decline in the dry field farming area of Kangwon Do. In an administrative districtwise, six counties beginning with Sanchnung county of Kyungsang Nam Do, showed less than 20% decline of cocoon production, sixteen counties beginning with Samchuck county of Kangwon Do marked above 80% decrease of cocoon production. In the smaller unit area-wise, there was a big difference among them. twenty-five myons rather increased and a hundrd fourty-three myons decreased above 80% of it. 4. The cocoon production was positively correlated with the decreasing percentage of cocoon production per household. It was also affected by the ratio of the mulberry field area to the total cultivated area per household and cocoon productivity per 10a. 5. Four hundred sixty-four villages in the seventeen counties were surveyed on the basis of farm management and techniques concerned ('80/'79), and then the results were evaluated by using of computer. These results are summarized as foolows: (1) Cocoon production per household There was no difference among the agricultural regions in cocoon production. The cocoon production per household in the comparatively stable villages increased from 100.8kg in 1979 to 122kg in 1981. Cocoon yield in the stable villages decreased by 20% of '81/'79. The cocoon production per house hold in while that of the unstable villages decreased by more than 40% from 102.9kg in 1979 to 82kg in 1981. (2) Cocoon yield per 10a mulberry field The cocoon yield per 10a was higher in the plain area than in the mountaineous area. The stable villages had an average of 73.4kg cocoon yield/10a while the unstabe ones had only an average of 55kg. (3) Adoption the mulberry branch rearing method The branch rearing method was more popular in the plain area than in the mountainous area. In the stable vilages adopted 24.2% in spring and 16.7% in autumn of 1979. In 1981 it shwed increases of 34.3% and 10.1% in the two seasons respectivly. However, the unstable villages showed 13.3% and 126% in both seasons, respectively. (4) The patterns of the combined management system in the sericultural farming The popular management system in the sericultural from was combined with rice and other cash crops, showing 55% of the total households surveyed. Fourteen percent of the households combined the management system with rice and other cash crops and 14% of the households combined with rice only. The villages wich earned less than 20% of the total income from the sericulture reached 81% of the total houscholds indicating that they were still far beyond a complete combination system. (5) Damage by agricultural chemicals The damage caused by agricultural chemicals was mainly due to the protection of rice against insectpests and diseases in the plain areas and took place mostly in the autumn season. The chemicals applied was 65% of Iiquid and 35% of powder forms and 35% of damage was from granulat form of the chemicals. The use of the granular chemicals was low because of high cost.

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The Relics of Wae Lineage and the Keyhole-Shaped Mounds in the Honam Area (호남지역(湖南地域)의 왜계자료(倭系資料)와 전방후원형고분(前方後圓形古墳))

  • Tsuchida, Junko
    • Korean Journal of Heritage: History & Science
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    • v.51 no.2
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    • pp.170-203
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    • 2018
  • From the period of Japanese colonialism up to the present, the researchers of archaeology and ancient history in Korea and Japan have paid much attention to the Honam area. Recently the ruins and relics of Wae lineage are often discovered at archaeological excavation sites in this region. In particular, at least 17 keyhole-shaped mounds were confirmed. The fact that three mounds were built on one site was newly revealed. Haniwa, a representative earthenware object of the Kofun period in Japan, was discovered as well. Therefore, the study of a historical meaning of archaeological materials about Wae lineage in the Honam area thus far must be reexamined. The ruins and relics of Wae lineage in the Honam area have been studied by selecting only specific cases. I identified all the ruins and relics of Wae lineage in the Honam area and analyzed the process of their change in this paper. I reviewed the relationship between Wae and Mahan, and the purpose of their negotiation based on archaeological characteristics, changing processes, and historical records on a quarterly basis. The ruins and relics of Wae lineage have increased and widely spread since the early period of the 5th century in the Honam area. This tendency continued until the late period of the 6th century. Weapons of Wae lineage were introduced and tombs in the style of Wae were built from the late 4th century to the early period of the 5th century (TG232~TK216 period). Sueki was introduced from the middle to late period of the 5th century (TK208~TK23 period). Keyhole-shaped mounds and tombs in the style of Wae were built from the late period of the 5th century to the early period of the 6th century (TK47~MT15 period). Japanese weapons were introduced from the middle to late period of the 6th century (TK10~TK209 period). In other words, the archaeological appearance is different in each quarterly period. There was an intensive diplomatic relationship between Baekje and Wae in the TG232~TK216 period. The military might be included in a mission of Wae. The materials of Wae lineage of this period are likely to be related to this. Sueki spread to the inland part of the Honam area in the TK208~TK23 period. This Sueki tends to be excavated on advantageous sites for the accumulation and distribution of supplies. The main characters of the keyhole-shaped mounds are presumed to be a group of traders which were under the control of a certain influence in the north of Kyushu. The keyhole-shaped mounds were abruptly built at some distance from mounds of the leaders in the Honam area. Additionally, there was no special influence base to which the characters of the keyhole-shaped mounds belonged in the surroundings. However, it might have been impossible for the group of traders to build the keyhole-shaped mounds without the support from the residents at all because there was a big difference in the building technology of the keyhole-shaped mounds between Japan and the Honam area. The time of building some keyhole-shaped mounds is the same or almost the same with that of the mounds built for the regional leaders. This proves a close relationship with the residents as well. What do the archaeological materials of Wae lineage which have been used and buried mean over 200 years in the Honam area? Geumgwan Gaya, which had exported iron resources to Japan, perished in the early period of the 5th century. Instead of Gaya, the Honam area might have played an important role to supply the necessary resources to Japan. We assume that the Japanese (Wae) actively worked to acquire various resources focusing on the underground resources in the Honam area.

Corporate Default Prediction Model Using Deep Learning Time Series Algorithm, RNN and LSTM (딥러닝 시계열 알고리즘 적용한 기업부도예측모형 유용성 검증)

  • Cha, Sungjae;Kang, Jungseok
    • Journal of Intelligence and Information Systems
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    • v.24 no.4
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    • pp.1-32
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    • 2018
  • In addition to stakeholders including managers, employees, creditors, and investors of bankrupt companies, corporate defaults have a ripple effect on the local and national economy. Before the Asian financial crisis, the Korean government only analyzed SMEs and tried to improve the forecasting power of a default prediction model, rather than developing various corporate default models. As a result, even large corporations called 'chaebol enterprises' become bankrupt. Even after that, the analysis of past corporate defaults has been focused on specific variables, and when the government restructured immediately after the global financial crisis, they only focused on certain main variables such as 'debt ratio'. A multifaceted study of corporate default prediction models is essential to ensure diverse interests, to avoid situations like the 'Lehman Brothers Case' of the global financial crisis, to avoid total collapse in a single moment. The key variables used in corporate defaults vary over time. This is confirmed by Beaver (1967, 1968) and Altman's (1968) analysis that Deakins'(1972) study shows that the major factors affecting corporate failure have changed. In Grice's (2001) study, the importance of predictive variables was also found through Zmijewski's (1984) and Ohlson's (1980) models. However, the studies that have been carried out in the past use static models. Most of them do not consider the changes that occur in the course of time. Therefore, in order to construct consistent prediction models, it is necessary to compensate the time-dependent bias by means of a time series analysis algorithm reflecting dynamic change. Based on the global financial crisis, which has had a significant impact on Korea, this study is conducted using 10 years of annual corporate data from 2000 to 2009. Data are divided into training data, validation data, and test data respectively, and are divided into 7, 2, and 1 years respectively. In order to construct a consistent bankruptcy model in the flow of time change, we first train a time series deep learning algorithm model using the data before the financial crisis (2000~2006). The parameter tuning of the existing model and the deep learning time series algorithm is conducted with validation data including the financial crisis period (2007~2008). As a result, we construct a model that shows similar pattern to the results of the learning data and shows excellent prediction power. After that, each bankruptcy prediction model is restructured by integrating the learning data and validation data again (2000 ~ 2008), applying the optimal parameters as in the previous validation. Finally, each corporate default prediction model is evaluated and compared using test data (2009) based on the trained models over nine years. Then, the usefulness of the corporate default prediction model based on the deep learning time series algorithm is proved. In addition, by adding the Lasso regression analysis to the existing methods (multiple discriminant analysis, logit model) which select the variables, it is proved that the deep learning time series algorithm model based on the three bundles of variables is useful for robust corporate default prediction. The definition of bankruptcy used is the same as that of Lee (2015). Independent variables include financial information such as financial ratios used in previous studies. Multivariate discriminant analysis, logit model, and Lasso regression model are used to select the optimal variable group. The influence of the Multivariate discriminant analysis model proposed by Altman (1968), the Logit model proposed by Ohlson (1980), the non-time series machine learning algorithms, and the deep learning time series algorithms are compared. In the case of corporate data, there are limitations of 'nonlinear variables', 'multi-collinearity' of variables, and 'lack of data'. While the logit model is nonlinear, the Lasso regression model solves the multi-collinearity problem, and the deep learning time series algorithm using the variable data generation method complements the lack of data. Big Data Technology, a leading technology in the future, is moving from simple human analysis, to automated AI analysis, and finally towards future intertwined AI applications. Although the study of the corporate default prediction model using the time series algorithm is still in its early stages, deep learning algorithm is much faster than regression analysis at corporate default prediction modeling. Also, it is more effective on prediction power. Through the Fourth Industrial Revolution, the current government and other overseas governments are working hard to integrate the system in everyday life of their nation and society. Yet the field of deep learning time series research for the financial industry is still insufficient. This is an initial study on deep learning time series algorithm analysis of corporate defaults. Therefore it is hoped that it will be used as a comparative analysis data for non-specialists who start a study combining financial data and deep learning time series algorithm.

Actual Clothing Style of Middle school girls According to Self-perception of Their Body Size (여중생의 신체 인식에 따른 착의 의복형태에 관한 연구)

  • Park Woo-Mi;Wee Eun-Hah
    • Journal of Korean Home Economics Education Association
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    • v.18 no.1 s.39
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    • pp.113-125
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    • 2006
  • The purpose of this study was to examine the effects of perception of body size on actual clothing style in middle school girls. To achieve this, this study analyzed self-perception of body size, aspired clothing style, and actual clothing style. By classifying groups into thin and thick, the difference in clothing style according to groups was also analyzed. Subjects of this study were middle school girls in Gwangju and 219 responses were collected from real body measurement and questionnaires. WIN SPSS+10.0 package was used to obtain results. Results are as follows: 1. For the self-perception of body size, middle school girls perceived much thicker in the lower body than the upper body. And they were unsatisfactory about the lower body which was perceived thick. 2. In the correlation of actual and aspired clothing style of middle school girls, they wore a aspired clothing style actually. Their actual or aspired upper clothing style was to cover the skin, exposing or covering a body silhouette. Their lower clothing style was a slacks type that covers a body silhouette and the skin. 3. In selecting actual clothing styles, middle school girls were somewhat affected by self-perceived body size. But they did not prefer the clothing styles perceived thick in girth or big in width in exposing the skin or a body silhouette. On the other hand, as it was perceived long, wearing was increased. frequently wore the upper and lower clothing styles of exposing the skin or a body silhouette than the thick group. But both groups wore the clothing styles of covering the skin or a body silhouette regardless of their thinness and thickness. And when wearing the clothing style of exposing neck and shoulder, middle school girls considered actual body size more than self-perceived size. On the other hand, when wearing the clothing style of exposing arms and silhouette by fitted legs, they considered self-perceived body size more.

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Development of Sentiment Analysis Model for the hot topic detection of online stock forums (온라인 주식 포럼의 핫토픽 탐지를 위한 감성분석 모형의 개발)

  • Hong, Taeho;Lee, Taewon;Li, Jingjing
    • Journal of Intelligence and Information Systems
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    • v.22 no.1
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    • pp.187-204
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    • 2016
  • Document classification based on emotional polarity has become a welcomed emerging task owing to the great explosion of data on the Web. In the big data age, there are too many information sources to refer to when making decisions. For example, when considering travel to a city, a person may search reviews from a search engine such as Google or social networking services (SNSs) such as blogs, Twitter, and Facebook. The emotional polarity of positive and negative reviews helps a user decide on whether or not to make a trip. Sentiment analysis of customer reviews has become an important research topic as datamining technology is widely accepted for text mining of the Web. Sentiment analysis has been used to classify documents through machine learning techniques, such as the decision tree, neural networks, and support vector machines (SVMs). is used to determine the attitude, position, and sensibility of people who write articles about various topics that are published on the Web. Regardless of the polarity of customer reviews, emotional reviews are very helpful materials for analyzing the opinions of customers through their reviews. Sentiment analysis helps with understanding what customers really want instantly through the help of automated text mining techniques. Sensitivity analysis utilizes text mining techniques on text on the Web to extract subjective information in the text for text analysis. Sensitivity analysis is utilized to determine the attitudes or positions of the person who wrote the article and presented their opinion about a particular topic. In this study, we developed a model that selects a hot topic from user posts at China's online stock forum by using the k-means algorithm and self-organizing map (SOM). In addition, we developed a detecting model to predict a hot topic by using machine learning techniques such as logit, the decision tree, and SVM. We employed sensitivity analysis to develop our model for the selection and detection of hot topics from China's online stock forum. The sensitivity analysis calculates a sentimental value from a document based on contrast and classification according to the polarity sentimental dictionary (positive or negative). The online stock forum was an attractive site because of its information about stock investment. Users post numerous texts about stock movement by analyzing the market according to government policy announcements, market reports, reports from research institutes on the economy, and even rumors. We divided the online forum's topics into 21 categories to utilize sentiment analysis. One hundred forty-four topics were selected among 21 categories at online forums about stock. The posts were crawled to build a positive and negative text database. We ultimately obtained 21,141 posts on 88 topics by preprocessing the text from March 2013 to February 2015. The interest index was defined to select the hot topics, and the k-means algorithm and SOM presented equivalent results with this data. We developed a decision tree model to detect hot topics with three algorithms: CHAID, CART, and C4.5. The results of CHAID were subpar compared to the others. We also employed SVM to detect the hot topics from negative data. The SVM models were trained with the radial basis function (RBF) kernel function by a grid search to detect the hot topics. The detection of hot topics by using sentiment analysis provides the latest trends and hot topics in the stock forum for investors so that they no longer need to search the vast amounts of information on the Web. Our proposed model is also helpful to rapidly determine customers' signals or attitudes towards government policy and firms' products and services.

Contents of Bioactive Constituents and Antioxidant Activities of Cultivated and Wild Raspberries (재배종 및 야생 산딸기의 기능성 성분 함량과 항산화 활성)

  • Lee, Heon Ho;Moon, Yong Sun;Yun, Hae Keun;Park, Pil Jae;Kwak, Eun Jung
    • Horticultural Science & Technology
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    • v.32 no.1
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    • pp.115-122
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    • 2014
  • In order to select the raspberry cultivars that have high contents of bioactive constituents and high antioxidant activities, 7 cultivated and 2 wild raspberries which were selected and cultivated in the Bokbunja Institute were evaluated for their physicochemical characteristics, bioactive constituents, and antioxidant activities. The wild raspberry of Asan was the smallest among the sample raspberries but it had the highest sugar and lowest acid contents among the raspberries. Another wild raspberry of Ulleungdo had the highest total phenolic compound and ellagic acid contents, 182.97, $55.25mg{\cdot}100g^{-1}FW$, respectively, although it was small and had low sugar and high acid contents. Among the widely cultivated raspberry cultivars in Kimhae, 'Wangttal' cultivar was a big raspberry with 12.80% sugar content, and another unknown raspberry cultivar was as small as the wild raspberry with 14.60% sugar content. Although 'Wangttal' and the unknown raspberry cultivars cultivated in Kimhae possess lower contents of total phenolic compound (159.62, $165.94mg{\cdot}100g^{-1}$) and ellagic acid (45.7, $52.1mg{\cdot}100g^{-1}$ ) than the wild raspberry of Ulleungdo, the contents of total flavonoids (14.28, $14.90mg{\cdot}100g^{-1}$) and total anthocyanins (28.69, $30.48mg{\cdot}100g^{-1}$) were higher. Also the wild raspberry of Ulleungdo, 'Wangttal', and the unknown raspberry cultivar of Kimhae had higher antioxidant activities measured by FRAP (Ferric reducing antioxidant power), DPPH (2,2-diphenyl-1-picrylhydrazyl), and ABTS (2,2' azinobis-(3-ethylbenzothiazoline-6-sulphonic acid) assays. The present study shows that three raspberry cultivars could be potent resources for raspberry breeding and functional material development.

A Research of the Profit Module of General Classroom in according to Decreasing the number of Elementary School Classroom's student (초등학교 학급당 학생수 감소에 따른 일반교실의 적정 모듈에 관한 연구)

  • Yoon, Hee-Cheol
    • The Journal of Sustainable Design and Educational Environment Research
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    • v.17 no.1
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    • pp.33-39
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    • 2018
  • The number of elementary school classroom's students. It will be decreased to 21.1 OECD even and furthemore to 19.8 in 2030. Therfore fore the time being the number of elementary school classroom's students will be sustained in 20~22. But nowadays the classroom's area which is fitted the number of 30 is too big compare with the number of 20~22. This reserch is finding the profit module of elementary school's classroom of the number of 20~20. Using one student's unit and various displays of class by teaching methods, I found the conclusions as follows. 1st, the horizontal length of center line is 7,100~7,500 and the vertical length of center line is 7,000~8,000 in the classroom's area of a team of 2. 2nd, if you make adjustment those lenghts to 30cm module, horizontal length is transfered to 7.2m, 7.5m, and vertical length is transferred to 7.2m, 7.5m, 7.8m. Therefore unit classroom's module are $7.2m{\times}7.2m$, $7.5m{\times}7.5m$ in square, and $7.2m{\times}7.5m$, $7.2m{\times}7.8m$, $7.5m{\times}7.8m$ in rectangular. 3rd, the areas of modules are $7.2m{\times}7.2m(51.84m^2)$, $7.5m{\times}7.5m(56.25m^2)$, $7.2m{\times}7.5m(54m^2)$, $7.2m{\times}7.8m(56.16m^2)$, $7.5m{\times}7.8m(58.5m^2)$. Therfore th area of module is from $51.84m^2$ to $58.5m^2$ compared to nowadays' classrooms.

Selecting the Optimal Research Time for Forest Birds Census in Each Season (산새류의 계절별 적정 조사시간 선정 연구)

  • Kim, Mi-Jeong;Lee, Soo-Dong;Kim, Ji-Suk
    • Korean Journal of Environment and Ecology
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    • v.27 no.2
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    • pp.219-229
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    • 2013
  • This research is performed in order to suggest seasonal effective research time that is applied to wild birds research which lives in a forest. The subject area of this research is Mulgun-ri village forest in Samdong-Myeon, Namhe-gun. To investigate suitability of the project, existing land-use, existing vegetation, vegetational structure, and etc. of the subject and whole area are figured out. To suggest adequate research time, based on seasonal sun rise and set time for 3days, repetitive research is performed at hourly intervals. The subject area is connected with a forest and is possible for forest wild birds to flows in and provides various habitats and feeding areas. And also the subject area is a appropriate area for wild birds research and is like a natural forest in that a layer structure development of the forest itself, a distribution of Zelkova serrata and Aphananthe aspera and so on. 105 species which is observed in subject area are categorized and mountain birds are classified. After time-based peak value is selected in each season, hourly species richness, diversity, and index of similarity are analyzed as compared with the appearing number of species and individual bird. As a result, 7~11 hour is the most effective time in spring, and 8~9 hour is the best time. In summer, 6~9 hour is the most appropriate time when whole appearing species are similar to species structure. In fall, 7~11(30~60 minutes after sun rise) when wild birds movements are vigorous is analyzed easy to observe and 8~9 hour is the most appropriate research time because each analysis shows the best values. In winter, 7~12 hour is the most effective time although 10~11 hour is the best time but it is decided that similar results are drawn because hourly deviation is not so big except 1 hour before sun rise. In every four season, it is decided that 30~60 minutes after sun rise is appropriate to research a group of wild birds in the subject area.

A Study on the Availability of Chinese Internal Arbitration Institution by the Company invested from Korea (중국 투자기업의 중국 국내중재기구 이용 가능성에 관한 연구)

  • Yoon, Jin-Ki
    • Journal of Arbitration Studies
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    • v.24 no.4
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    • pp.49-97
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    • 2014
  • This study is about the availability of Chinese internal arbitration institutions by Korean invested companies. Generally, Chinese internal arbitration institutions lack independence from government. However, because parties seeking an arbitration award have ways to get neutrality from internal arbitration institutions that guarantee party autonomy, these Korean companies can use Chinese internal arbitration institutions to resolve disputes in China. Special attention should be given to the following. First, because Korean companies invested in China are legally in the same position as Chinese companies, unless foreign-related factors intervene, when disputes occur with Chinese companies or individuals, the disputes correspond to internal dispute, and when it comes to choosing the arbitration institution, these Korean companies must choose either a Chinese internal arbitration institution or foreign-related arbitration institution. Second, most Chinese internal arbitration institutions still lack independence from government, which can influence the fairness of arbitration in the future. Therefore, Korean companies invested in China should think about alternative ways to get a minimum impartiality in arbitration cases. Third, the parties are allowed to choose arbitration rules freely in Beijing, Xian, Chongqing, Guangzhou, and Hangzhou arbitration commissions. Therefore, in arbitration cases, the parties can get impartiality by choosing arbitrators according to the arbitration rules which they agree on, or by choosing partially modified arbitration rules of those arbitration commissions. Fourth, in order to get an impartial arbitration award from Chinese internal arbitration institutions in China, it is important for Korean lawyers or arbitration experts -- fluent in Chinese -- to be registered in the List of Arbitrators of Chinese internal arbitration institution by way of signing a MOU between the Korean Commercial Arbitration Board, or the Korean Association of Arbitration Studies and arbitration commissions such as those of Beijing, Xian, Chongqing, Guangzhou, and Hangzhou which comparatively do guarantee party autonomy. Fifth, because application of the preservation of property before application of arbitration is not approved in China, in practice, in order to preserve property before application of arbitration, it is best to file another suit in China based on other legal issue (e.g., tort) independent from the contract which an arbitration agreement is applied to. Sixth, in arbitration commissions which allow different agreement regarding arbitration procedures or arbitration rules, it is possible to choose a neutral arbitrator from a third country as a presiding arbitrator via UNCITRAL arbitration rules or ICC arbitration rules. Seventh, in the case of Chinese internal arbitral award, because the court reviews the substantive matters to decide the refusal of compulsory execution, the execution rate could be relatively lower than that of foreign-related cases. Therefore, when Korean companies invested in China use Chinese internal arbitration institution, they should endure low rate of execution. Eighth, considering the operational experiences of public policy on foreign-related arbitration awards so far, in cases of Chinese internal arbitration award, the possibility of cancellation of arbitral award or the possibility to refuse to execute the award due to public policy is thought to be higher than that of foreign arbitral awards. Ninth, even though a treaty on judicial assistance in civil and commercial matters has been signed between Korea and China, and it includes a provision on acknowledgement and enforcement of arbitral award, when trying to resolve disputes through Chinese internal arbitration institution, the treaty would not be a big help to resolve the disputes, because the disputes between Korean companies invested in China and the party in China are not subject to the treaty. Tenth, considering recent tendency of conciliation by the arbitral tribunal in China and the voluntary execution rate of the parties, the system of conciliation by the arbitral tribunal is expected to affect as a positive factor the Korean companies that use Chinese internal arbitration institution. Finally, when using online arbitration, arbitration fees can be reduced, and if the arbitration commissions guaranteeing party autonomy have online arbitration system, the possibility of getting impartial arbitration award through them is higher. Therefore, the use of online arbitration system is recommended.

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The effect of managerial ability on short-term or long-term firm performance in Chaebol (재벌기업에서 경영자능력이 장·단기 기업성과에 미치는 영향)

  • Kang, Sun-A;Kim, Yong-Shik
    • Management & Information Systems Review
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    • v.36 no.1
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    • pp.233-249
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    • 2017
  • This study investigates the relation of managerial ability and firm performance in case of Chaebol in Korea. We employ non-financing firms at Korean markets for the period 2000-2015. Most important decision is made by the head of Chaebol which increases firm value eventually and he has such a strong dominant power that managers belongs to Chaebol have to follow mother firm's decision directions. So it is expected that managers belongs to Chaebol have to focus on long term performance rather than short term profits, which means they concentrate their managerial ability much on the firm value. Otherwise, managers in which non-Chaebol focus their ability on periodic accounting earnings. Thus, this study examines an empirical analysis on the relation of managerial ability and firm performance and the effect of Chaebol on the relation of managerial ability and firm performance. Empirical results are as follows: First, there exists a statistically significant positive relation between managerial ability and firm performance either short- or long-term. Second, we extend this relationship into Chaebol condition and find that managerial ability of Chaebol positively influences on the firm value which is long-term performance, rather than return on assets which is short-term performance. These results imply that managers belongs to Chaebol much concentrate their ability on long-term value which is differenciated from the case of non-Chaebol samples. Chaebol is an important issue in Korea because it dominates most of Korean local economy so its' impact from small changes on our economy is big enough. Our study examining the relationships between managerial ability of Chaebol and firm performance is meaningful and it is a good signal that they concentrate their ability much on the long-term value rather than short-term profits. We expect that the results of this study will provide the academic and practical references. This study will contribute to the future research in accounting through an analysis of managerial ability which is a new measure, Chaebol, and firm value.

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