• Journal of the Korea Academia-Industrial cooperation Society
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• v.21 no.2
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• pp.565-577
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• 2020

This study empirically examined how a firm size affects the determinants of innovative activities using the data of the Korean Innovation Survey (KIS) 2016. With data from 2,003 firms in the manufacturing sector, we performed logistic regression analysis and zero-inflated negative binomial regression analysis. R&D expenditure and patent applications were used as proxies for innovative activity. The independent variables included the firm's characteristics variables such as the firm's age, tech-level industry, RDemp (R&D employee ratio), venture, export, and industrial characteristics variables such as networking, appropriability, and spillovers. The empirical findings are that there are some differences in firms' innovative activity determinants among the firms' size groups. Next, strategic appropriability has negative impacts on small firms' R&D expenditure and medium-firms' patents. Networking is an important determinant of innovative activity for all firms, except for large firms. Furthermore, in deciding R&D activities, small and medium-sized firms were significantly influenced by industrial characteristics as compared to that of large firms. Our findings suggest some R&D promotion policies. Policies fostering firms' technological interaction would allow firms to take advantage of technological spillovers and thus raise the probability of investing in R&D.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.5 no.4
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• pp.1-34
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• 2010

Recently, failure rates of Kosdaq IPO firms are increasing and their survival rates tend to be very low, and when these firms do fail, often times backed by a number of governmental financial supports, they may inflict severe financial damage to investors, let alone economy as a whole. To ensure investors' confidence in Kosdaq and foster promising and healthy businesses, it is necessary to precisely assess their intrinsic values and survivability. This study investigates what contributed to the failure of IPO firms and analyzed how these elements are factored into corresponding firms' stock returns. Failure risks are assessed at the time of IPO. This paper considers factors reflecting IPO characteristics, a firm's underwriter prestige, auditor's quality, IPO offer price, firm's age, and IPO proceeds. The study further went on to examine how, if at all, these failure risks involved during IPO led to post-IPO stock prices. Sample firms used in this study include 98 Kosdaq firms that have failed and 569 healthy firms that are classified into the same business categories, and Logit models are used in estimate the probability of failure. Empirical results indicate that auditor's quality, IPO offer price, firm's age, and IPO proceeds shown significant relevance to failure risks at the time of IPO. Of other variables, firm's size and ROA, previously deemed significantly related to failure risks, in fact do not show significant relevance to those risks, whereas financial leverage does. This illustrates the efficacy of a model that appropriately reflects the attributes of IPO firms. Also, even though R&D expenditures were believed to be value relevant by previous studies, this study reveals that R&D is not a significant factor related to failure risks. In examing the relation between failure risks and stock prices, this study finds that failure risks are negatively related to 1 or 2 year size-adjusted abnormal returns after IPO. The results of this study may provide useful knowledge for government regulatory officials in contemplating pertinent policy and for credit analysts in their proper evaluation of a firm's credit standing.

• Korean Journal of Human Ecology
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• v.14 no.4
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• pp.653-663
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• 2005

The society advance of a development of the science technique and women from the industrialization, women prefered the tailor-made clothes to the convenient ready-made clothes in the aspect to be economic and save time in the clothing habits. After marriage, middle age women change the comparison of their body due to the pregnancy and birth, the body girth of them increases compared with young woman, the winding of the waist comes to be small and they show the feature of body which the vibration thickness and the brachial girth grows bigger. The reason is that the problem on the fitness of the ready-made clothes comes into being. According to this result which analyzes a ready-made clothes body of the jacket-brand which does the middle age woman to the target in research, actual purchasing age appears than the age which most companies do to the target so that it is high, and though the body is divided in KS standard, the measurement distinguished without the body and most companies were producing the jacket. There was many case to select a fitting model Among a designer or within firm employee with the similar body and measurement. It was revealed that high rate of mending relation of a sale jacket of the company. Research about the body of the ready-made clothes is thought by continuing over there.

• Journal of Labour Economics
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• v.43 no.2
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• pp.75-107
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• 2020

Using the data from 1980 to 2017, I show the long-term trends in the gender wage gap in Korea and analyze factors using decomposition method. It tended to decline until the 1990s, but gradually slowed after the 2000s. Gelbach(2016)'s decomposition method is used as an alternative rather than Blinder-Oaxaca decomposition. The results show that the proportion of explanation of traditional factors, such as age, education, firm size, industry and occupation, are continuously decreasing in explaining the gender wage gap. Expecially, the proportion of explanation of age and that of education have decreased, and that of industry tended to decrease in the 1990s but to increase after the 2000s.

• Journal of Labour Economics
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• v.34 no.1
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• pp.103-138
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• 2011

This paper examines the changes in relative wage of top 10 college graduates to the other college graduates among the age group of 26-28 years using Korean Labor and Income Panel Study (KLIPS). From 1999 to 2008, the wage differential between top 10 college graduates and the other college graduates increased in South Korea. This wage differential seems to persist along with their age. Within industry wage differential among college graduates also rose but in the late 2000s it became smaller than the wage differential within firm size and industry. Increase in elite college wage premium has led to recent changes in college wage premium.

• Journal of architectural history
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• v.19 no.2
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• pp.133-152
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• 2010

Through the 20th century architectural theory of rational thinking and the principles according to the statement of the firm, Le Corbusier's early works by analyzing the language of architecture, including his architectural concepts and helps the understanding of modern architecture. Masters of modern architecture as a place among the works of Le Corbusier in the 1920s, 'Le Corbusier's White Period' homes to target by age, and that his initial concept of the formation process of clarifying, further the construction of his golden age will be the key to understand. I selected housings from Maison Citrohan to villa Savoye, the category of architectural elements by considering the development process, he examines developments of the concept of modern architectural space. In analysis process, First of all, I am focused on between each element in the development process to review and explicate the integration process. The advent of the machine which he lived, because of its incredible potential reorganization of human society, as well as to celebrate the start of a new lifestyle. His architectural language of the times in the machinism could achieve progress and modern art, which is a new interpretation of the natural world.

• Journal of Korean Dental Science
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• v.13 no.1
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• pp.35-41
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• 2020

Irritation fibroma is a reactive hyperplastic lesion caused by chronic stimuli with low intensity in the oral cavity. Irritation fibroma is common in middle-aged females but it may also occur at any age and sex. Clinical characteristics of irritation fibroma are similar to other reactive lesions or benign tumors, therefore, histological examination is essential to make an accurate diagnosis. This case report presents two cases of irritation fibroma occurred on the gingiva in young males. Two male patients in their 20s and 30s of age visited the clinic for the evaluation and treatment of painless gingival overgrowth in the anterior region. Clinically, the lesions were well-defined and firm, with similar color and texture to the adjacent normal gingiva. Excisional biopsy under local anesthesia was conducted with a scalpel, and the lesions were completely removed. Histopathologically, connective tissue consisting of dense collagen bundles, proliferation of fibroblasts and minor infiltrated inflammatory cells were observed. Based on the clinical and histopathological findings, the diagnosis of irritation fibroma was confirmed in both cases.

• Journal of the Korean Society of Clothing and Textiles
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• v.23 no.1
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• pp.170-181
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• 1999

The aim of this paper was to look at the distribution intensity for the women's formal wear industry. Most of the previous works on the distribution design have stressed product characteristics and consumer's shopping behaviours. The firm especially in women's aopparel industry recently has had difficulty in how to decide and to select the distribution numbers in the domestic market. Thus five hypothesis were set based on the data in '98Korea Fashion Guide describing the brand of women's wear in detail. It has been published by Korea Fashion Association in 1997. The variables of this study were the price the total sale the launching period the target customer's age and brand origins related with domestic or foreign. 579 brands had been analyzed with percentage anova duncan's test pearson's correlation and t-test. the results were as follows: In general the higher the price of the product is the less intensive the distribution of the women's apparel industry is. The higher the total sale is and the younger the target customer's age is the more intensive the distribution of the women's apparel industry is Besides there is difference between the domestic brand and the foreign brand in the distribution intensity. There is no relationship between the launching period of the brand and the distribution intensity. In addition four brand types were classified into the national brand the designer brand the licensed brand and the imported brand. Satatistically variables have shown different relations in terms of each brand type.

• Korea journal of population studies
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• v.21 no.2
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• pp.58-82
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• 1998

It is usually proposed that job security of old age workers is hampered by the structure of wage increasing with age. This paper sets forth a model to comprehend the characteristic of the old age workers' labor market and policy implications derived from it. In order to stimulate demand for old age workers, policy initiatives should be taken as follows : the wage criteria should be simplified which apply differently from one institution to other; incentives relatively favorable for employing old age workers' in manufacturing sector should be also given to service sectors; employment subsidy or other tax incentives should be given for labor contract after the retirement age; licensing and evaluation system for job ability should be introduced based on occupation & job analysis. To lower the reservation wage of workers, mortgage loan for house and long-term low interest loan for tuition fees should be developed together with stabilization of housing cost. Wedding culture which requires high expense should be amended. Above all, it is necessary to install reasonable social security system. Policy orientation should also pay attention to reduce labor supply of the old aged via aiding old age workers' firm opening and voluntary civil service together with developing various honor programs for members of civil corps.

• The Korean Journal of Financial Management
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• v.21 no.2
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• pp.99-123
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• 2004

We focus in this study on incremental financing decisions and estimate a logit model for the probability a firm will choose a private placement over a public bond issue. We hypothesize that information asymmetry, financial risk, agent cost, and proprietary information may affect a firm's choice between public debt and private placements. We find that as the size of firm increases, the probability of choosing a private placement declines significantly. The age of the firm, however, is not a significant factor affecting the firm's choice between public and privately-placed bond. The coefficients on the firm's leverage and non-investment grade dummy are significantly positive, meaning firms with high financial risk and credit risk select private placements. The findings regarding agency-related variables, PER and Tobin's Q, are somewhat complex. We find significant evidence that firms with high PER prefer private placements to public bonds, suggesting that borrowers with options to engage in asset substitution or underinvestment are more likely to choose private placements. The coefficient of Tobin's Q is negative, but not significant, which weakly support the hold-up hypothesis. When we construct an interaction term on the Tobin's Q with a non-investment rating dummy, however, the Tobin's Q interaction term becomes positive and significant. Thus, high Tobin's Q firms with a speculative rating are significantly more likely to choose a private placement, regardless of the potential hold-up problems. The ratio of R&D to sales, proxy for proprietary information, is positively significant. This result can be interpreted as evidence in favor of a role for proprietary information in the debt sourcing decision process for these firms.