• The Journal of Asian Finance, Economics and Business
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• v.7 no.8
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• pp.69-76
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• 2020

The study examines lagged economic effects of research and development (R&D) investment on the market value of manufacturing firms listed on the Shanghai Stock Exchange or the Shenzhen Stock Exchange in China. This study applies panel data analysis methods to address the following issues: 1) There might be an adjustment lag in the impact of R&D investment on corporate market value, and 2) Unobserved firm effects must be taken into account. The balanced panel data includes a total of 1,462 observations with 34 cross-sections of manufacturing firms listed on Chinese stock markets and with 27 time-specific quarterly periods from 2007 to 2017. The results indicate that the R&D investment of Chinese manufacturing firms tends to yield favorable market value of the firm with some adjustments to time. The results show that R&D investment exhibits a strong positive impact on their market value of manufacturing firms in Chinese stock markets. Moreover, R&D investment has a positive time-lag effect on the market value of the firm. Interestingly, the R&D investment of Chinese manufacturing firms generate a relatively constant positive effect on their market value, supporting the notion that the corresponding returns of R&D investment for such firms yield lagged but added market values.

• Journal of Navigation and Port Research
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• v.32 no.4
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• pp.271-277
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• 2008

When performing steering by an autopilot (automatic steering gear), a sensitivity adjustment is mainly determined by P value and D value. These values differ in the optimal combination by model of ship and external forces. This research was carried out simulation case studies and examined movement of Pure Car Carrier, which easily received ship by wind pressure influence in low speed We investigated the relation of horizontal migration(transfer) of ship's body and P-D value. Based on it, four parameters of P-D at approaching berth could be suggested Hence there were suggestions of parameters; Distance to maximum lee point, Time to maximum lee point, Time to return to original course and Time to 300th second. The correlation of these parameters and P-D value were also considered. As a result, we think that this index, like formulated P-D, leads to an easy and safe navigation by utilizing these indices.

• Journal of Advanced Navigation Technology
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• v.15 no.1
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• pp.104-111
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• 2011

In this study, I have tried to analyze an influence of R&D investment on ROV(Real Option Value), corporate value and market value by analyzing R&D investment, ROV, corporate value and market value of machine and material industry in the perspective of ex post. As a result of this study, corporate value, which has been deduced by real option according to R&D investment, reflects market value well and possesses a strong correlation with R&D investment, ROV, corporate value and market value. This implication demonstrates this study result is corresponding with existing theories.

• The Korean Journal of Food And Nutrition
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• v.25 no.4
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• pp.787-792
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• 2012

The objective of this study was to investigate the proper concentration of D-xylose which is expected to reduce the GI (Glycemic index) value of sucrose in the human body. When subjects took a sucrose mixture containing 5% and 10% D-xylose, the blood glucose levels were lowered by approximately 27.5% and 25.9%, respectively, compared to those of sucrose. The GI values of sucrose mixtures containing 5% and 10% D-xylose were 49.3 and 50.4, respectively. The reduction in GI value was not dependent on the D-xylose concentration, as the GI value of sucrose mixture containing 5% D-xylose (XyloSugar) was similar to that of sucrose mixture containing 10% D-xylose (XyloSugar10). D-xylose is not only more expensive but also less sweet than sucrose. So, low concentration of D-xylose has the advantage in the price and taste. It was determined that the proper concentration of D-xylose expected to reduce GI value of sucrose was 5% (w/w).

• The Korean Journal of Ecology
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• v.2 no.1
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• pp.1-8
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• 1978

Epiphytic lichens were sampled quantitatively on the cherry trees (Prunus serrulata) at Jeonju and Hadong along both north and south exposures of tat trees. Coverage of lichens was determinated for each species by 10*20cm quadrat. Lichen species diversities such as total diversity (D), mean diversity (D), Shannon diversity (D') and redundancy (R) were estimated according to Brillouin and Shannon equation. The importance value of lichen species was meassured by niche preemption model, The importance value transformed into some fraction k of the niche space. The value of k was compared with aggregation of lichens communities in to areas. The ten most important awariensis, Parmelia incurva, Parmelia crinita, Dirinaria applanta, Parmelia wallichiana, Parmelia austrosinensis and Cetraria platyphylla. The mean coverage epiphytic lichens on north side of tree was higher than of south side in two areas. The species diversities of epiphytic lichen of two areas shows that a change in the value of D' along vertical was not paralled with the D and R. In Kumsan-sa, D, D and D' increased upward along the tree of north exposure, but did not follow this trend in south, However in Sangge-sa, D, D and D' of both sides increased.

• Journal of the Korean Society of Environmental Restoration Technology
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• v.19 no.3
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• pp.45-57
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• 2016

This study was focused on the northernmost limit of the distribution changing of Daphniphyllum macropodum and studied characteristic of plant communities of natural monument No. 91 in Najangsan national park, Korea. The results of this study were as follows : 1. The highest importance percentage(I.P.) value at tree layer in Quercus. mongolica community was Q. mongolica, 37.8%. But the highest value of mean importance percentage(M.I.P.) was D. macropodum, 32.8%. 2. The highest I.P. value at tree layer in Carpinus laxiflora community was C. laxiflora, 47.4%. The highest M.I.P. value was C. laxiflora, 28.8% and M.I.P. value of D. macropodum was 24.0%. 3. The highest I.P. value at tree layer in D. macropodum community was D. macropodum, 55.6%. C. laxiflora and Q. mogolica I.P. value was 14.8% and 6.8%, respectively. The highest M.I.P. value was D. macropodum, 47.9%. Sapium japonicum and C. laxiflora M.I.P. value was 11.4% and 10.7%, respectively. 4. The highest I.P. value at tree layer in Quercus variabilis community was C. laxiflora, 20.8%. Q. variabilis and Acer pseudosieboldianum I.P. value was 15.3% and 12.5%, respectively. The highest M.I.P. value was D. macropodum, 21.5%. It needs to the continuous monitoring of vegetation and importance percentage change in tree layer and subtree layer of D. macropodum. The researching results of D. macropodum distribution, the distribution range of D. macropodum showed expanded more than range of Lim and Oh' result(1999). In other words, it was distributed low density level between Najangsa temple and Byeokryeonam, and distributed in upper Keumsun waterfall and Wonjeok upper valley. D. macropodum was appeared on hiking trails around from Wonjeokam to Bulchulbong. Especially, it was found in this study that D. macropodum was distributed on Seoraebong's north which placed outside area of Naejangsa region. In this study, it was considered that distribution range of D. macropodum was expanded. Also, it is expected to be used as a result of the field study of changing distribution study of broad leaved evergreen forest due to global warming.

• Korean Journal of Food Science and Technology
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• v.32 no.2
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• pp.356-362
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• 2000

Yakju(rice wine) was sterilized with high-voltage square-wave pulses of $1\;{\mu}s$ duration at various electric field strengths and frequencies on a serial multiple electrode pulsed electric field(PEF) treatment system consisted of 7 electrodes connected in series. The initial microbial counts of Yakju were $1.88{\times}10^3{\sim}2.13{\times}10^4$ CFU/mL for total aerobes, $1.55{\times}10^3{\sim}2.85{\times}10^4$ CFU/mL for lactic acid bacteria and $1.72{\times}10^3{\sim}2.39{\times}10^4$ CFU/mL for yeasts. The sterilization of microorganisms in Yakju was a first order reaction and the sterilization effect increased as the field strength and the frequency increased. The $D_{Hz}-value$ and the $D_{PEF}-value$ decreased with the electric field strength. Yeast showed lower $D_{PEF}-value$ than bacteria. Lactic acid bacteria showed lower $D_{PEF}-value$ than general aerobic bacteria under the electric field strength below 30 kV/cm, but higher ones under that above 40 kV/cm. The $Z_{PEF}-value$ of general aerobic bacteria, lactic acid bacteria and yeast in Yakju were 39.4, 49.3 and 47.6 kV/cm, respectively. The PEF sterilization resulted in less changes in color and sensory properties than heat sterilization, and the PEF treated Yakju showed superior quality to the heat treated one. The commercial sterilization of Yakju was accomplished with 2-cycle treatment on the tested serial PEF treatment system.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.33 no.1
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• pp.287-295
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• 2013

This paper developed advanced gravity model for higher estimation accuracy, that deals with residuals. Previously studied paper using gravity model's residual, residual calculated that observed O-D value minus derived O-D value from gravity model, and this residual added to the target year's estimated value from gravity model. In this paper, residuals calculated on gravity model parameter estimation process, and this residual is revealed the same value that observed O-D value devided by derived O-D value from gravity model. And case study resulted that developed new gravity model that applied accordance rate of observed O-D value and derived O-D value from gravity model has higher estimation accuracy than other gravity models as basic gravity model and residual plused gravity model.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.12 no.7
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• pp.3053-3061
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• 2011

This study examines the relationship between R&D(research & development) investment and market value among KOSDAQ firms in the Korea Stock Exchange. We investigate the effect of R&D investment on firm value in both total sample and sub-samples classified by firm characteristics based on types of firms. And we study the impact of a major economic disruption as the global financial crisis triggered by sub-prime mortgage problem in the US on R&D investment relative to the firm value. We find that R&D investment positively affects firm value and the squared term of R&D investment is found to be significant and negatively correlated with market value. This suggests the presence of nonlinear relationship like a reverse U-shape between R&D investment and market value in total sample and most of sub-samples. And we find firm characteristics and global financial crisis partially affect the contribution of R&D investment to market value in some of sub-samples.

• Journal of Information Technology Services
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• v.15 no.3
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• pp.1-14
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• 2016

According to the growing importance of science and technology policy, investment in research and development (R&D) has been increased. In this context, a patent as one of outcome of firm's systematic R&D investment is the way to hold a dominant position in companies' technology competitiveness and also to protect technology right. This study attempts to find the effects of input resources and intellectual property production activity on company value. It conducted empirical analysis based on 238 KOSDAQ-listed and medium-sized firms. Using the previous research, this study configurated research variables about activity of patent production, company value, and input of resources. Through these variables, it aims to know the effect of input of resources and activity of patent production on company value. First, the result of regression analysis shows that R&D cost has the positive effect on a patent production and sales promotion cost positively affects on the registration of the trademark. Second, the output of regression analysis indicates that a patent has the positive effect on company value but a trademark has not. With regard to the input of resources, R&D cost has the influence on company value but sales promotion cost has not. This study attempts to find the effectiveness of company's intellectual property registration on its value and suggests a way that the systematic R&D investment contributes the growth of company value.