• Journal of the Korea Academia-Industrial cooperation Society
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• v.16 no.6
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• pp.3870-3881
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• 2015

This study examined one of the contemporary issues on debate to identify any significant financial determinants on the cash holdings of the cheabol firms in the Korean domestic capital markets. Several important findings on the financial characteristics affecting the cash holdings were evidenced by utilizing various methodologies for statistical estimations. Financial or managerial implications with discussion were provided for the pronounced factors such as CASHFLOW, MVBV, REINVEST, and AGENCY. Assuming that the chaebol firms were overall subject to the financial constrains, they may increase or stockpile cash reserves as internal capital for future investment opportunities or repayment of existing debt, rather than external financing burdened by a high cost of capital. Given the on-going controversy on the optimal level of corporate cash holdings coupled with any foreseeable capital transfer among the associated nations through the investment vehicles such the FTAs (Free Trade Agreements) or TPP (Trans-Pacific Pacts), any empirical findings of the study may shed new light on identifying financial determinants which may significantly affect the level of cash holdings for the business conglomerates, the 'chaebol' firms, in the Korean capital markets.

• The Korean Journal of Applied Statistics
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• v.20 no.3
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• pp.423-440
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• 2007

Although various models have been developed to establish the enterprise credit scoring, no model has utilized the enterprise human resource so far. The purpose of this study was to build an enterprise credit scoring model using enterprise human resource factors. The data to measure the enterprise credit score were made by the first-year research material of HCCP was used to investigate the enterprise human resource and 2004 Credit Rating Score generated from KIS-Credit Scoring Model. The independent variables were chosen among questionnaires of HCCP based on Mclagan(1989)'s HR wheel model, and the credit score of Korean Information Service was used for the dependent variables. The statistical method used for data analysis was logistic regression. As a result of constructing a model, 22 variables were selected. To see these specifically by each large area, 6 variables in human resource development(HRD) area, 15 in human resource management(HRM) area, and 1 in the other area were chosen. As a consequence of 10 fold cross validation, misclassification rate and G-mean were 30.81 and 68.27 respectively. Decile having the highest response rate was bigger than the one having the lowest response rate by 6.08 times, and had a tendency to decrease. Therefore, the result of study showed that the proposed model was appropriate to measure enterprise credit score using enterprise human resource variables.

• Journal of Korea Society of Industrial Information Systems
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• v.13 no.1
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• pp.76-86
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• 2008

This paper estimates the TFP in IT manufacturing (total factor productivity) by employment size of establishment and analyses the determinants of it. And the panel data is consisted of time series and cross section data of 4 employment size of establishment over $1990{\sim}2004$. During the period from 1991 to 1997 TFP increased positively irrespective of the employment size of establishment, but from 1998 to 2004 TFP increase rate turned negative except large size(more than 300) of establishment. TFP assume macro variables and policy variables as the determinants of IT manufacturing TFP. The analysis of whole size of establishment shows that sales growth rate is significantly positive, which makes us conclude that there is a teaming by doing effect and economy of scale. But some variables(i.e. IT capital stock, policy financing, and openness etc.) are significant in only a few models. So there may be different effect by employment size of establishment. In TFP determinants analysis by employment size of establishment, we find that coefficients of policy financing and openness variables are significantly positive. The larger employment size of establishment is, the larger scale economy is. And for large size(more than 300) establishment, IT capital stock helps propel the increase of the productivity.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.13 no.8
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• pp.3417-3426
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• 2012

This study aims to determine how ownership structure (share-holding ratio of insiders, foreigners) affects agent costs (the portion of asset efficiency or non-operating expenses) through empirical analysis. However, as existing studies on correlations between ownership structure and agent costs adopted Pooled OLS Model, this study focused on additionally formulating Fixed Effect Model and Random Effect Model aimed to reflect the time of data formation and corporate effects as study models based on verification results on the suitability of Pooled-OLS Model before comparative analysis for the purpose of improvement of credibility and statistical validity of the results of empirical analysis based on the premise that the Pooled OLS Model is not reliable enough to verify massive panel data. The data has been accumulated over 10 years from 1998 to 2007 after the IMF crisis hit the nation, from a subject 331 companies except for financial institutions. As a result of the empirical analysis, verification of the suitability of model has determined that the Random Effect Model is appropriate in terms of asset efficiency among agent costs items. On the other hand, the Fixed Effect Model is appropriate in terms of non-operating costs. As a result of the empirical analysis according to the appropriate model, no hypothesis adopted in the Pooled OLS Model has been accepted. This suggests that developing an appropriate model is more important than other factors for the purpose of generating statistically significant empirical results by showing that different empirical results are produced according to the type of empirical analysis.

• 한국노년학
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• v.37 no.3
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• pp.727-745
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• 2017

This study purported to examine the effects of precarious employment and social capital on the changes of self-rated health status among the middle aged and the young-old population in South Korea. The study analyzed 12 year follow-up data generated by the Korean Labor and Income Panel Study(KLIPS 6-17), which included 10532 employed subjects aged 55 to 75. Multi-level growth curve modeling was performed by fixed and random effect models using STATA 13.0 program. Afterwards, Hausman test was performed, which resulted in support of the estimation by fixed effect model. The results showed that a day labor position was significant factor affecting the deteriorated changes of self-rated health status over time. In addition, wage, weekly working hours, and private/relational social capitals were also found to be significant factors affecting the changes of the self-rated health status. The results supported the divergence hypothesis as well as the cumulative advantage theory. Efforts should be made to develop and implement various employment support policies and social service programs to alleviate the health inequality of the employed workers over their middle-aged to young-old period.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.20 no.10
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• pp.425-432
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• 2019

This study examined the effects of livestock disease news, such as foot-and-mouth disease (FMD), collected by the Korea Press Foundation on BIGKinds on the consumption of beef and pork. The consumer purchase data were obtained from the Rural Development Administration's Agrifood consumer panel data. Survival analysis showed that the FMD news noted beef and pork, and the first purchase rate decreased due to FMD news. The time-dependent Cox proportional hazards model revealed all models to be significant. FMD news was significant in each model. In 2010, the Hazard Ratio of domestic and imported pork was 0.999, and the first purchase rate decreased 0.999 times for each additional FMD news item. On the other hand, the Hazard Ratio of pork in 2015 was 1.001, and the first purchase rate increased. In the case of beef, results similar to pork were shown. This study estimated the impact of consumer meat consumption disease news on the first purchases according to origin and meat. These results provide the necessary information for rational production and consumption activities. In addition, it can also be used for promotion by estimating the duration of livestock disease news.

• Journal of Korea Water Resources Association
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• v.52 no.3
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• pp.187-194
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• 2019

Intake ratio from river constitutes about 31% (8/26) that beings to "water stress country" as "Medium ~ High" with China, India, Italy, South Africa, etc. Therefore, the present study on a dam that is the most effective and direct for securing water resources has been performed. First of all, climate change scenarios were investigated and analyzed. RCP 4.5 and 8.5 with 12.5 km grid resolution presented in the IPCC (Intergovernmental Panel on Climate Change) 5th Assessment Report (AR5) were applied to study watershed using SWAT (Soil and Water Assessment Tool) and HEC-ResSim models that carried out co-operation. Based on the results of dam simulation, the reduction effects of floods and droughts were quantitatively presented. The procedures of dam projects of the USA, Japan and Korea were investigated. As a result, there are no estimating quantitative criteria, calculating methods or formulas. In the present study, therefore, indexes for selecting suitable dam site through literature investigation and analyzing dam watersheds were determined, Expert questionnaire for various indexes were performed. Based on the above mentioned investigation and expert questionnaire, a methodology assigning weight using AHP method were proposed. The function of suitable dam (FSDS) site was calibrated and verified for four medium-sized watersheds. Finally, automated model for suitable dam site was developed using FSDS and 'Model builder' of GIS tool.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.22 no.2
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• pp.248-258
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• 2021

The study analyzed the financial determinants of corporate R&D intensity that require more attention from academics and practitioners in the Korean capital market. Domestic small and medium enterprises (SMEs) may face with developing substitutes by making more R&D investments in scale and scope, given the unprecedented economic conditions such as the limitation of importing core components and materials from other nation(s). KOSDAQ-listed SMEs were selected as sample data, whose R&D expenditures may be less than those of large firms during the post-global financial turmoil period (2010~2018). Static panel data model was applied, along with Tobit and stepwise regression models, for examining the validity of results. Logit, probit, and complementary log-log regressions were also employed for a relative analysis. R&D expenditures in the prior year, the interaction effect between the previous R&D intensity and high-tech sector, firm size, and growth rate were significant to determine R&D intensity. Moreover, a majority of explanatory variables were found to change between the years 2011 and 2018, while time-lagged effects between the R&D intensity and growth rate exist. Results of the study are expected to be used for future research to detect optimal levels of R&D expenditures for the value maximization of SMEs.

• Composites Research
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• v.35 no.5
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• pp.303-308
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• 2022

PIC (Piecewise Integrated Composite) is a new concept for designing a composite structure with mosaically assigning various types of stacking sequences in order to improve mechanical properties of laminated composites. Also, machine learning is a sub-category of artificial intelligence, that refers to the process by which computers develop the ability to continuously learn from and make predictions based on data, then make adjustments without further programming. In the present study, the tapered box beam type PIC robot arm for carrying and transferring wide and thin LCD display was designed based on the machine learning in order to increase structural stiffness. Essential training data were collected from the reference elements, which were intentionally designated elements among finite element models, during preliminary FE analysis. Additionally, triaxiality values for each finite element were obtained for judging the dominant external loading type, such as tensile, compressive or shear. Training and evaluating machine learning model were conducted using the training data and loading types of elements were predicted in case the level accuracy was fulfilled. Three types of stacking sequences, which were to be known as robust toward specific loading types, were mosaically assigned to the PIC robot arm. Henceforth, the bending type FE analysis was carried out and its result claimed that the PIC robot arm showed increased stiffness compared to conventional uni-stacking sequence type composite robot arm.

• Journal of Science Education
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• v.46 no.1
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• pp.80-92
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• 2022

We fitted latent growth models of attitude towards science using the Korea Education & Employment Panel 2004-2007 data with 343 high school students. The growth model show better fit indices compared to the no growth model. The intercept and slope showed significant variances, and thus, we added control variables of the number, ratio of advanced courses, and variety in science elective subjects, and the achievement percentile for middle school. In the conditional growth model, the previous achievement has significant positive effects on the intercept and the ratio of the advanced courses and variety of science subjects show significantly positive effects on the slope. Based on the results, it supports the 2022 Revised Science Curricular that high school credit system should provide students with basic 'Physics,' 'Chemistry,' 'Biology,' and 'Earth Science,' credits in 'general electives', various integrated subjects in 'converged electives', and highly advanced subjects in 'career electives.'