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Comparison of Innovation Efficiency of Pre-IPO and Post-IPO in Korea: Case of Pharmaceutical Industry (IPO 전후 혁신의 효율성 비교 연구: 의약산업 중심으로)

  • Kim, Eunhee
    • Journal of Technology Innovation
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    • v.24 no.1
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    • pp.143-167
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    • 2016
  • The purpose of this study is to analyze changes of innovation activities and their performance in pre-IPO and post-IPO of KOSDAQ IPO listed companies in medical and pharmaceutical fields, which require high R&D investment, from 2000 to 2005 in Korea. The innovation efficiencies of the IPO companies were measured before and after three years based on the DEA model. The financial data and patent information of the listed company during total 6 years, which were 3 years before IPO and 3 years after IPO, were collected. The main results of this research are as follows. First, it took an average 12.86 years until IPO in the start-up of the IPO companies in the pharmaceutical sector, and innovation was on average more active than the IPO before. R&D investment was higher than the IPO before, and the number of the applied patent during 3 years after IPO was 16.67 which was increased from 8.43 during 3 years before IPO. In addition, the average scope of technology of the IPO companies was expanded from 11 to 22 technology fields during previous 3 year and after 3 year each, and financial growth after IPO was lower than the previous IPO. Second, the financial performance of R&D investment and the performance of patent activity were weakened in the efficiency after the IPO, and the integrated performance from the patenting activities and the R&D investment was decreased after the IPO. Finally, the efficiency of the financial performance of the patenting activity was lower than the efficiency of the financial performance of the patent and R&D investment and patent activities under the R&D investment. In particular, the inefficiency of the firms' patenting activities performance after the IPO was caused by the decreasing return to scale, according to the results of this study. This results implicate that the expansion of R&D investments through the IPO had not lead to the financial performance of the market, and that the overall inefficiency since the IPO is due to the inefficiencies at the stage for the outcome of innovation activity rather than the output obtained through the R&D investments that appear to lead the performance of the market.

Improvement of Shelf-life and Quality in Fresh-Cut Tomato Slices:

  • Hong Ji Heun
    • Proceedings of the Korean Society of Postharvest Science and Technology of Agricultural Products Conference
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    • 2004.10a
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    • pp.67-72
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    • 2004
  • Quality of fresh-cut tomato slices was compared during cold storage under various modified atmosphere packaging conditions. Chilling injury of slices in containers sealed with Film A was higher than with Film B; these films had oxygen transmission rates of 87.4 and 60.0 ml $h^{-1}\;m^{-2}\;atm^{-1}$ at $5^{\circ}C\;and\;99\%$ RH, respectively. While slices in containers with an initial atmospheric composition of air, $4\%\;CO_2+1\;or\;20\%\;O_2,\;8\%\;CO_2+1\;or\;20\%\;O_2,\;or\;12\%\;CO_2+20\%\;O_2$ showed fungal growth, slices in containers with $12\%\;CO_2+1\%\;O_2$ did not. Low ethylene in containers enhanced chilling injury. Modified atmosphere packaging provided good quality tomato slices with a shelf-life of 2 weeks or more at $5^{\circ}C$. Experiments were conducted to compare changes in quality of slices of red tomato (Lycopersicon esculentum Mill. 'Sunbeam') fruit from plants grown using black polyethylene or hairy vetch mulches under various foliar disease management systems including: no fungicide applications (NF), a disease forecasting model (Tom-Cast), and weekly fungicide applications (WF), during storage at $5^{\circ}C$ under a modified atmosphere. Slices were analyzed for firmness, soluble solids content (SSC), titratable acidity (TA), pH, electrolyte leakage, fungi, yeasts, and chilling injury. With both NF and Tom-Cast fungicide treatments, slices from tomato fruit grown with hairy vetch (Vicia villosa Roth) mulch were firmer than those from tomato fruit grown with black polyethylene mulch after 12 days storage. Ethylene production of slices from fruit grown using hairy vetch mulch under Tom-Cast was about 1.5- and 5-fold higher than that of slices from WF and NF fungicide treatments after 12 days, respectively. The percentage of water-soaked areas (chilling injury) for slices from tomato fruit grown using black polyethylene mulch under NF was over 7-fold that of slices from tomato fruit grown using hairy vetch under Tom-Cast. When stored at $20^{\circ}C$, slices from light-red tomato fruit grown with black polyethylene or hairy vetch mulches both showed a rapid increase in electrolyte leakage beginning 6 hours after slicing. However, slices from tomato fruit grown using the hairy vetch mulch tended to have lower electrolyte leakage than those grown with black polyethylene mulch. These results suggest that tomato fruit from plants grown using hairy vetch mulch may be more suitable for fresh-cut slices than those grown using black polyethylene mulch. Also, use of the disease forecasting model Tom-Cast, which can result in lower fungicide application than is currently used commercially, resulted in high quality fruit for fresh-cut processing. Experiments were conducted to determine if ethylene influences chilling injury, as measured by percentage of slices exhibiting water-soaked areas in fresh-cut tomato slices of 'Mountain Pride' and 'Sunbeam' tomato (Lycopersicon esculentum Mill.). Ethylene concentration in containers without ventilation significantly increased during storage at $5^{\circ}C$, whereas little or no accumulation of ethylene occurred in containers with one or six perforations. Chilling injury was greatest for slices in containers with six perforations, compared to slices in containers with one perforation, and was over 13-fold greater than that of slices in control containers with no perforations. An experiment was also performed to investigate the effectiveness of including an ethylene absorbent pad in containers on subsequent ethylene accumulation and chilling injury. While ethylene in the no-pad controls increased continually during storage of both 'Mountain Pride' and 'Sunbeam' tomatoes at $5^{\circ}C$ under modified atmosphere conditions, no increase in accumulation of ethylene was observed in containers containing ethylene absorbent pads throughout storage. The ethylene absorbent pad treatment resulted in a significantly higher percentage of chilling injury compared with the no-pad control. In studies aimed at inhibiting ethylene production using AVG during storage of slices, the concentration of ethylene in control containers (no AVG) remained at elevated levels throughout storage, compared to containers with slices treated with AVG. Chilling injury in slices treated with AVG was 5-fold greater than that of controls. Further, we tested the effect of ethylene pretreatment of slices on subsequent slice shelf-life and quality. In slices treated with ethylene (0, 0.1, 1, or $10\;{mu}L\;L^{-1}$) immediately after slicing, ethylene production in non-treated controls was greater than that of all other ethylene pre-treatments. However, pretreatment of slices 3 days after slicing resulted in a different pattern of ethylene production during storage. Ihe rate of ethylene production by slices treated with 1 L $L^{-1}$ ethylene 3 days after slicing was greater during storage than any of the other ethylene treatments. With slices pre-treated with ethylene, both immediately and 3 days after slicing, the rate of ethylene production tended to show an negative correlation with chilling injury. Chemical name used: 1-aminoethoxyvinylglycine (AVG).

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Effect of Gamma Irradiation on the Microbiological and Physicochemical Quality Changes of Steamed Waxy Corns during Storage (감마선 조사에 의한 증자 찰옥수수의 저장 중 미생물 및 이화학적 특성변화)

  • Choi Jae-Ho;Im Ji-Soon;Oh Deog-Hwan
    • Food Science and Preservation
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    • v.13 no.3
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    • pp.292-298
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    • 2006
  • Effect of gamma irradiation on the microbiological and physicochemical characteristics of steamed waxy corns was determined in order to develop preservation techniques to enhance shelf-life during storage at room or low temperature. The initial total microbial count, and yeast & molds steamed waxy corns before irradiation were $2.1{\times}10^3CFU/g,\;1.9{\times}10^3CFU/g$, respectively. However, the total microbial count were completely inactivated and the count of yeast and molds were only 34 CFU/g at 3 kGy treatment When non-irradiated steamed waxy corns were stored at $25^{\circ}C$ for 7 months, the growth of total microbial counts and yeasts & molds were rapidly increased up to $7.1{\times}10^6CFU/g\;and\;1.9{\times}10^7CFU/g$, respectively. However, the total microbial counts at 3 kGy treatment and yeast & molds at 5 kGy treatment for 7 month storage were completely inactivated Similar result was observed at $15^{\circ}C$ and $4^{\circ}C$ storage. The Hardness of the irradiated steamed waxy corns and irradiation dose were not significantly different from those of the non-irradiated steamed waxy corns before storage, but the hardness of non-irradiated steamed waxy corns was significantly increased during the storage, compared to those of irradiated corns. The water content of both irradiated and non-irradiated steamed waxy corns after 7 month storage were significantly decreased from $65{\sim}60%$ to 30% but the changes of water content among treatments or irradiation doses were not significantly different during storage. Sugar contents in the irradiated steamed waxy corns were less free than those of non-irradiated samples and the amount of free sugar slowly increased as storage temperature increased. Sensory evaluation result showed that total sensory scores in irradiated steamed waxy corns were better than those of non-irradiated samples and total sensory scores were increased as irradiation doses increased.

Artificial Mass Culture of Flat Oyster Larvae, Ostrea denselamellosa, and Collection Rates according to Various Spat Collection Methods (벗굴, Ostrea denselamellosa, 유생의 인공대량사육과 채묘방법에 따른 채묘율)

  • 양문호;김형섭;이재용;한창희
    • The Korean Journal of Malacology
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    • v.17 no.1
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    • pp.35-44
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    • 2001
  • This research was conducted to develop seedling production techniques in flat oyster, Ostrea dense lamellosa. The cultivation of larvae, artificial spat and spats collection in natural conditions rate were examined. In the mass culture tank (3 tons), average growth rates of the D Shape larvae of initial shell length (153.4 ㎛) and shell height (153.4 ㎛) were 202.6% and 212.9% at 16 days and 227.1%, 241.8% at 20 days, respectively. Instantaneous death and survival rate of the larvae were 0.160 and 54.8% at 16 days and 0.057 and 43.2% at 20 days, respectively. Collection rate of flat oyster from bottom using various collectors with oyster shell, scallop shell, ark shell and PVC plates were 32.9%, 24.1%, 16.8% and 10.0%, respectively. and the greatest collecting rate was 131.9 individuals/shell (32.9%) in laid collectors on the bottom. The collecting rate of the oyster larvae were better in laid collectors on the bottom 83.8 individuals/collection than in the suspended string 54.2 individuals/collection. in all collecting substrates. Early spats settled on collectors were grew to 2.38 $\pm$ 0.97 ㎜ in shell length and 2.16 $\pm$ 0.86 ㎜ In shell height at 26 days. The spats were grew to 28.58 $\pm$ 2.39 ㎜ in shell length and 31.65 $\pm$ 2.03 ㎜ in shell height during the 4 month mid-term cultivation. In the period of cultivation, the mean number of spats attached to collectors were 10.3 individuals at oyster shells, 5.8 scallop shells, 4.0 ark shells and 1.5 PVC plates, respectively.

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Economic Injury Level of Mamestra brassicae L. (Lepidoptera: Noctuidae) on Early Stage of Cabbage (Brassica oleracea L. var capitata L.) (양배추에서 생육초기 도둑나방의 경제적피해수준 설정)

  • Kang, Taek-Jun;Jeon, Heung-Yong;Kim, Hyeong-Hwan;Yang, Chang-Yeol;Kim, Dong-Soon
    • Korean journal of applied entomology
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    • v.48 no.2
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    • pp.237-243
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    • 2009
  • This study was conducted to develop economic injury level (ElL) and economic threshold (ET) of Cabbage armyworm, Mamestra brassicae L. on cabbage (Brassica oleracea L. var). The changes of cabbage biomass and M. brassicae density were investigated after introduction of larval M. brassicae (2nd instar) at different densities: 0, 1, 2, 4, 8, and 16 larvae per plant at 40 d after planting for an open field experiment, and 0, 2, 5, 8 and 12 larvae per plant at 25 d after planting for a glass house experiment. In the field experiment, the yield loss of cabbage was not significantly different among treated-plots at 30 d after the larval introduction, showing an over-compensatory response of cabbage plants to M. brassicae attack. In the glasshouse experiment, however, the biomass of cabbage at 15 d after the larval introduction significantly decreased with increasing the initial introduced number of M. brassicae, resulting in 38.3, 36.7, 21.7, 23.3 and 16.7g in above treated-plots, respectively. The relationship between cumulative insect days (CID) and yield loss (%) of cabbage was well described by a nonlinear logistic equation. Using the estimated equation, ElL of M. brassicae on cabbage was estimated at 44 CID per plant based on the yield loss 14%, which take into account of an empirical gain threshold 5% and marketable rate 91% of cabbage. Also, ET was calculated at 80% of the EIL: 35 CID per plant. Until a more elaborate EIL-model is developed, the present result may be useful for M. brassicae management at early growth stage of cabbage.

Field Control of Paulownia Witches' Broom with Oxytetracycline Hydrochloride (옥시테트라사이클린에 의(依)한 오동나무·빗자루병(病) 방제(防除))

  • La, Yong Joon;Shin, Hyeon Dong
    • Journal of Korean Society of Forest Science
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    • v.49 no.1
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    • pp.6-10
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    • 1980
  • The witches' broom disease of Paulownia tomentosa (Thunb.) Steud with which mycoplasmalike organisms are associated is widespread throughout Korea and poses serious threat to the cultivation of paulownia. Attempt was made to investigate the feasibility of field control of the disease with oxytetracycline hydrochloride (OTC). A total of 84 paulownia trees (6 year-old, DBH: 10-15cm) exhibiting severe symptoms of witches' broom were selected and treated during March to September. Solution of 1-10g of OTC dissolved in 0.1­2.0 of water was transfused into infected trees with gravity flow method from a dark-brown colored plastic reservoir (11 volume) through plastic tubes (1.2m long) connected to 2-4 holes (5 mm in diameter and 4-5cm in depth) bored in the basal part of the tree trunks (Fig. 1 and 2). Of 60 diseased paulownia trees injected with 2g of OTC in 0.1-2.0l of water during May to September, 1979, 58 trees resulted in complete remission of symptom development and resumption of healthy new growth at least up to September, 1980 when the last observation of the effect of OTC treatment for this experiment was made. The rest of two trees were dead probably due to too severe infection. Of 24 paulownia trees treated in March and April, 1979 complete remission of symptom development was obtained with 8 trees, and nine trees were partially prevented from symptom development in the following season. The remaining 7 trees were dead due to failure in uptake of OTC and partly because the trees were in too far advanced stage of infection. Application of highly concentrated solution of 2g of OTC dissolved in 0.1-0.2l of water per tree was just as effective as the 2g/1-2l treatment. Injection of 2g/1-2l required 3-4 days while treatment of 2g/0.1-0.2l reduced the time for injecting one tree down to less than 24 hrs. The result of this experiment demonstrates that basal trunk injection of 2g OTC/0.1-0.2l/tree is feasible for field control of paulownia witches' broom, provided that tree injection is performed in actively growing season (May-September) and at the initial stage of disease development.

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Comparative legal review between national R&D projects and defence R&D programs - A study on improvement of royalty system for the promotion of aircraft industry - (국가연구개발사업 및 국방연구개발사업 간 비교법적 검토 - 항공기산업 진흥을 위한 기술료 제도 개선에 관한 연구 -)

  • Lee, Hae-Jun;Kim, Sun-Ihee
    • The Korean Journal of Air & Space Law and Policy
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    • v.35 no.1
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    • pp.153-180
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    • 2020
  • This study is meaningful in finding out what legal and policy issues need to be improved in order to foster the aircraft industry, which is relatively underdeveloped compared to the fact that some heavy industries, such as the automobile industry and shipbuilding industry, have achieved a high level of production and technology globally. Korea's aircraft industry has been growing at a slower pace than other industries, largely due to the country's economic growth and the lack of a market structure to properly use variables such as the level of development in related industries, aircraft technology and demand for aircraft manufacturing. While most industries are privately led by the market structure of the competition system, heavy industries such as the aircraft industry generally grow under the market structure of the incomplete competition system, because only by securing huge initial investment costs, high technology, and sufficient demand, they can maintain minimum economic feasibility. The Korean aircraft industry was focused on developing and mass-producing military aircraft focusing on military demand, but it sought to turn the tide by signing the BASA (Bileral Aviation Safety Agreement) with the U.S. A preliminary feasibility study was conducted in 2010 to develop next-generation medium-sized aircraft, but was cancelled due to differences in position with Canada's Bombardier, which is subject to the concourse, and Korea Aerospace Industries (KAI) is pushing for the production of Bombardier's Q400 license on its own. Compared to the mid-to-large sized civil aircraft that are facing difficulties in development, KAI and KARI are successfully developing technologies to unmanned aerial vehicles and civil helicopters. In addition, the unmanned aerial vehicle sector is not yet suitable for manufacturers that have an exclusive global influence, so we believe that it is necessary to pursue government-led research and development projects with a focus on the areas of commercial helicopters and unmanned aerial vehicles in order to foster the aircraft industry in the future. In addition, since military aircraft such as KT-1 and T-50 are currently being exported smoothly, and it cannot be overlooked that the biggest demand for aircraft manufacturing in the Korea is the military, it is necessary to push forward national R&D projects and defense R&D program simultaneously to enable both civilian-military development. However, there are many differences between the two projects in the way they are implemented, the department in charge and the royalty system. Through this study, we learned about the technology ownership and implementation rights of national R&D projects and defense R&D programs, as well as the royalty system. In addition, problems with the system were identified and improvement measures were derived.

THE EFFECT OF FERMENTED MILK ON VIABLE CELL COUNT AND BIOFILM FORMATION OF STREPTOCOCCUS MUTANS (유산균 발효유가 Streptococcus mutans의 생균수 및 biofilm 형성에 미치는 영향)

  • Shin, Hye-Sung;Kim, Seon-Mi;Choi, Nam-Ki;Yang, Kyu-Ho;Kang, Mi-Sun
    • Journal of the korean academy of Pediatric Dentistry
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    • v.36 no.3
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    • pp.358-366
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    • 2009
  • Lactic acid bacteria worked positively on gastrointestinal tract and oral environment. So I selected commercial five fermented milks and milk, and then I evaluated their effect of growth inhibition and biofilm formation of cariogenic bacteria, Streptococcus mutans. And also calculated the acidity, buffering capacity, concentration of Ca and P ion and pH change of those drinks. After adding S. mutans to fermented milks viable cell count of S. mutans in milk was not statistically different but those in all fermented milks were decreased as concentration of fermented milk increased. When I measured the amount of formed biofilm in 10% fermented milks and milk with S. mutans and compared with those without S. mutans, the amount was decreased in Active GG and Bulgaris while being increased in Tootee, Ace and milk(P<0.05). The fermented milk with the lowest pH value was E5(3.48${\pm}$0.01), and the highest was Bulgaris(4.19${\pm}$0.02). pH change of the fermented milks and milk with S. mutans was measured. The highest acid producing fermented milk was Bulgaris, and followed by Active GG, Ace, Tootee, E5, Milk. These results indicated that fermented milks had caries activity due to the value of initial acidity and acid producing capacity. But, concentrated fermented milks had the inhibitory effect against S. mutans, and also had high volume of Ca and P ion that protected teeth. So I suggest that they have positive effect on teeth.

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Effects of Soil Nitrogen Addition on Microbial Activities and Litter Decomposition (토양 내 질소 증가가 미생물 활성 및 식물체의 분해에 미치는 영향)

  • Chae, Hee Myung;Lee, Sang Hoon;Cha, Sang Sub;Shim, Jae Kuk
    • Korean Journal of Ecology and Environment
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    • v.46 no.2
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    • pp.276-288
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    • 2013
  • The present study investigates the effects of elevated soil nitrogen on growth and decomposition of Oryza sativa shoots. The plants were cultivated in greenhouse until leaf senescence and the total biomass of the plant increased 1.9 times at nitrogen addition plot. Total C and N content in shoot increased; however, lignin, C/N, and lignin/N levels decreased in the N-treated soil. The shoot litters collected from the control and N-treated soil were tested for decay and microbial biomass, $CO_2$ evolution, and enzyme activities during decomposition on the control and N-treated soil at $25^{\circ}C$ microcosm. The remaining mass of the shoot litter was approximately 6% higher in the litter collected from the control soil (53.0%) than the litter collected from high N-treated soil (47.1%). However, the high N-containing litter exhibited faster decay in the control soil than in the N-treated soil. The litter containing high N, low C/N, and low lignin/N showed a higher decomposition rate than that of low quality litter. The N-addition showed decreased microbial biomass C and dehydrogenase activity in soil; however, it exhibited high microbial biomass N and urease activity in soil. When the high N-containing litter decays on the N-treated soil, the microbial biomass C increased rapidly at the initial phase of decomposition and decreased thereafter, and dehydrogenase activity was less that of other treatment; however, there was no effect on the microbial biomass N. The urease in the decomposing litter was highest during the early decomposition stage and dramatically decreased thereafter. The present findings suggested that the N-addition increased N content in litter, but inhibited the decomposition process of above-ground biomass in terrestrial ecosystems.

Changes in Quality of Carrot During Storage by Hydrocooling (냉수냉각에 의한 당근의 저장중 품질변화)

  • Jeong, Jin-Woong;Kim, Byeong-Sam;Kim, Oui-Woung;Nahmgung, Bae;Lee, Sung-Hyun
    • Korean Journal of Food Science and Technology
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    • v.28 no.5
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    • pp.841-849
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    • 1996
  • Quality changes in carrot during storage were studied to investigate the efficiency, cooling properties and the washing and storage effects of hydrocooling method. As a result of plotting the nondimensionalized carrot temperature versus cooling time, its cooling rate coefficient was shown $-0.0171min^{-1}{\sim}-0.0121min^{-1}\;(R^{2}=0.99{\sim}0.95)$, and $-0.141min^{-1}{\sim}-0.0038min^{-1}\;(R^{2}=0.98{\sim}0.92)$ in package condition7. Rate of weight loss and change in moisture content of carrot were not significantly different by treatment conditions during storage at $5^{\circ}C$. During storage at $15^{\circ}C$, however, weight loss of hydrocooled carrot was lower than that of non-treated carrot from the 30th to 40th day. Especially, PE was more effective than tray for packaging hydrocooled carrots. Carrot pretreated wish sterilizing agent, packed with PE vinyl film and with residual water removed after hydrocooling showed a lower decaying-rate than any other carrots. Changes in Hunter L and b values of hydrocooled carrot were slower than those of non-treated one. The carotenoids contents of stored carrot $(0.736{\sim}0.780mg%)$ decreased to $9{\sim}43%$ after 40 days of storage at $5^{\circ}C$ and before 20 days of storage at $15^{\circ}C$. It could be presumed that the addition of sterilizing agent reduced the initial level of overall microbial and coliform counts and their growth rate during storage.

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