• Journal of the Economic Geographical Society of Korea
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• v.22 no.4
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• pp.592-609
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• 2019

This study attempts to expand the leverage cycle theory using the subprime real estate investors. The leverage cycle theory has demonstrated asset price fluctuations irrelevant to changes in fundamentals through the restructuring of transaction composition centered on optimistic buyers. However, it needs to understand how this theory works in the depressed housing market with low-income residential regions to explain the geographic origins of the financial crisis. In the depressed housing market, the subprime real estate investors focused on low-income residential regions. Through this spatial focus, the low-income residential regions solely have real estate investor-oriented composition of new purchase transactions in the depressed housing market. The discovery of the subprime real estate investors as new actors lays the foundation for applying the leverage cycle theory to the depressed housing market which has been a underserved area for capital investment. This attempt illustrates how the geographical reinterpretation of an economic theory reestablishes spatio-temporal context of economic phenomena.

• The Journal of Society for e-Business Studies
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• v.12 no.3
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• pp.33-47
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• 2007

The requirements have been changed during development progresses, since it is impossible to define all of software requirements. These requirements change leads to mistakes because the developers cannot completely understand the software's structure and behavior, or they cannot discover all parts affected by a change. Requirement changes have to be managed and assessed to ensure that they are feasible, make economic sense and contribute to the business needs of the customer organization. We propose a feature-oriented requirements change management method to manage requirements change with value analysis and feature-oriented traceability links including intermediate catalysis using features. Our approach offers two contributions to the study of requirements change: (1) We define requirements change tree to make user requirements change request generalize by feature level. (2) We provide overall process such as change request normalization, change impact analysis, solution dealing with change request, change request implementation, change request evaluation. In addition, we especially present the results of a case study which is carried out in asset management portal system in details.

• The Journal of Asian Finance, Economics and Business
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• v.4 no.3
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• pp.5-17
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• 2017

This study extends research into whether disclosure of corporate and financial information is associated with firms' costs of equity capital. This study sets out to examine empirically the determinants of corporate disclosure in the annual reports of 37 largest and most liquid firms listed on Kazakhstan Stock Exchange (KASE) in Kazakhstan. It also reports the results of the association between company-specific characteristics and disclosure of the sample companies. Based on the analysis of existing empirical research, the disclosure index has been constructed and regression analysis of the influence of the disclosure index on the cost of equity capital has been conducted. The obtained results show that the received findings correlate with foreign empirical studies, and the disclosure index in this sample has a negative impact on the cost of equity capital. Using cost of equity capital estimates derived from capital asset pricing model, we find that firms with higher levels of financial transparency are associated with significantly lower costs of equity capital. Economic theory assumes that by increasing the level of corporate reporting, firms not only increase their stock market liquidity, but also decrease the investors' estimation risk, arising from uncertainty about future returns and payout distributions. The results show that firms on the Kazakhstan market can reduce their cost of equity capital by increasing the level of their voluntary corporate disclosures.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.7
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• pp.349-360
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• 2020

The study aims to empirically examine the determinants of bank margins from Pakistan, an emerging South Asian economy. To elucidate the importance of the Pakistani banking sector, secondary data has been used, which was extracted from the annual accounts of twenty-four Pakistani scheduled commercial banks (20 conventional, four full-fledged Islamic) over a sample period of 2006 to 2017. The factors identified in the dealership model and the subsequent empirical developments in the dealership model categorized as bank-specific, diversification, regulatory, and industry concentration are analyzed by applying the most-common linear dynamic panel-data estimator, the Generalized Method of Moments (GMM) estimator, developed by Arellano and Bond (1991). The findings reveal that, among the bank-specific variables, funding cost, credit risk, managerial efficiency, market share, and operating cost are significant predictors of bank margins. For diversification variables employed in the study, both variables including net non-interest income and asset diversity are as well significant predictors of bank margins. It is also found that the market concentration variable proxied by the Herfindahl-Hirschman Index (HHI) is significantly predicting bank margins. Subsequently, one of the regulatory variables, the opportunity cost of holding reserves, and one bank-specific variable, the degree of risk aversion, are insignificant in the model.

• Journal of Korea Society of Digital Industry and Information Management
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• v.12 no.2
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• pp.73-86
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• 2016

The purpose of this study is to examine a security investment for firms experienced in confidential information leak. Information security is an apparatus for protection of secret information. The competence of information security is a competitiveness to avoid information leakage in changing business environment. The type of information security is divided into administrative security, technical security and physical security. It is necessary to improve the incident correspondence competence through information security investment of the three types. Therefore, the investment of information security is to enhance information-asset protection of firms. To reinforce accident response competence, an organization discussed an establishment, security technology development, expand investment and legal system of the security system. I have studied empirically targeting the only information leak of firms. This data is a technical security competence and technology leakage situation of firms happened in 2010. During recovery of the DDos virus damage on countries, company and individual, the collected data signify a reality of information security. The data also identify a security competence of firms worrying information security management. According to the study, the continuous investment of information security has a high competence of accident correspondence. In addition, the most of security accidents showed a copy and stealing of paper and computer files. Firm on appropriate security investment is an accident correspondence competence higher than no security investment regardless of a large, small and medium-sized, and venture firm. Furthermore, the rational security investment should choose the three security type consideration for firm size.

• Archives of design research
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• v.13 no.1
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• pp.7-18
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• 2000

Study of Costume Design Applied The Formativity of Korean Traditional Cloth Wrappers Costume has been coexistion with man ever sine human history began, and in modem society its role in man's living, culture and art has become so great that It is now an object most refreshing and of extensive concern to man. This study, based on the expressive quality and purity of Korean traditional cloth wrappers which have the formativity continuously pursueing new visual inspirations, is to seek new expressional diversities and rediscover our traditional beauty and at the same time to present possibilities of reflecting more unique, new spirit of the times inherent in our culture and of creating certain formative world of design value. In studying, literary reference as atheoretical background, analysis of the formative characteristics of traditional cloth wrappers through corrobcrative data preserved as a cultural asset at museums, and actual making of eight works in total based on the results of analysis have been paralled.

• Journal of Biosystems Engineering
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• v.22 no.4
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• pp.439-450
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• 1997

Most of Korean feed mill has a pregrind system which was suitable for the processing of less number of ingredients and finished products, and good for the mash type feed product. But industries has been changed in production volume and cost, and also from mash to further processed products such as pelleted and extruded. Therefore, Korea feed industries now should change the process, especially the grinding system from the current pregrind to other grind system, but this change will cost a lot of investment and also loosing current grinding system, and should have production shut down during the construction period. To solve these problems, combined grinding system based on a new model mill has been developed. The combined grind system is combination of pregrind and postgrind system, which has the advantages of those two grind systems, and also which can allow to utilize existing pregrind system continuously without any production interruption due to new postgrind system construction. This newly developed model has been applied to the feed mill expansion project of `B`feed company in 1994, and it was very successful application and showed excellent results as we intended. The new model mill, combined grind system applied can save fixed asset investment because old pregrind system can be used as is, and also can reduce production cost and improve product quality. And the possibility of critical production shut down can be much lowered. Within this new grinding model development, multi-screen combination system has been developed for the better grinding texture quality and safer operation. This new model mill with combined grind system will be applied by most feed manufacturing plant and may enhance their production competitiveness, and the further study and development should be continued.

• The Korean Journal of Physiology and Pharmacology
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• v.14 no.5
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• pp.279-283
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• 2010

Urushinol, a plant allergen, has significantly restricted the medical application of $Rhus$ $verniciflua$, although it has been reported to possess a wide variety of biological activities such as anti-inflammatory, antioxidant, and anti-cancer actions. To reduce the urushinol content while maintaining the beneficial biological activities, mushroom-mediated fermentation of $Rhus$ $verniciflua$ was carried out and this method resulted in significantly attenuated allergenicity [1]. In the present study, to examine the neuroprotective properties of mushroom-fermented stem bark of $Rhus$ $verniciflua$, two constituents were isolated from mushroom-fermented bark and their neuroprotective properties were examined in a mouse model of kainic acid (KA)-induced excitotoxicity. KA resulted in significant apoptotic neuronal cell death in the CA3 region of mouse hippocampus. However, seven daily administrations of RVH-1 or RVH-2 prior to KA injection significantly attenuated KA-induced pyramidal neuronal cell death in the CA3 region. Furthermore, pretreatment with RVH-1 and RVH-2 also suppressed KA-induced microglial activation in the mouse hippocampus. The present study demonstrates that RVH-1 and RVH-2 isolated from $Rhus$ $verniciflua$ and detoxified using mushroom species possess neuroprotective properties against KA-induced excitotoxicity. This leads to the possibility that detoxified $Rhus$ $verniciflua$ can be a valuable asset in herbal medicine.

• Journal of Technology Innovation
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• v.25 no.3
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• pp.265-297
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• 2017

As corporate management enters the era of informatization or knowledge management, the level of patent quality, which is the fruit of R&D and technical innovation, is an important element of corporate competitiveness in this age of unbridled competition. This study analyzes the relevance between R&D stocks and 6 types of knowledge stock (patent quality) and corporate market values in utilization of related research models. With Tobin Q model utilized, 108,851 U.S. patents (observed value per year: 2,795) registered by 402 domestic enterprises were analyzed. As the Hall model was analyzed, it turned out that the R&D stock/asset, claim stock/patent stock, and citation stock/patent stock had positive effect on corporate market values. The inventor stock/patent stock also show positive effect on corporate market values.

• Journal of Technology Innovation
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• v.20 no.3
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• pp.255-285
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• 2012

As the environmental performance is getting important in global automotive industry sector, there is a need to build the intellectual capacity. Hence it is important to measure the performance of the green car patent development of global automotive companies. To do this, we propose to use Data Envelopment Analysis(DEA) Model with Analytic Network Process(ANP), which generates weight coefficients of inputs and outputs for DEA-AR(Assurance Region) model. We considered three inputs: corporate asset, R&D expenditures, number of employees, and three outputs: patent counts, patent citations and patent claims. The results showed that our model could measure the potential of green car technology, and we could see the trend of the green car industry sector.