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The Financing Behavior and Financial Structure Determinants of Korean Manufacturing Firms (한국제조기업의 자금조달행태와 재무구조 결정요인에 관한 연구)

  • Shin, Dong-Ryung
    • The Korean Journal of Financial Management
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    • v.23 no.2
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    • pp.109-141
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    • 2006
  • The central factor in the pecking order theory of financial structure is the asymmetric distribution of information between managers and less-informed outside investors. Myers and Majluf (1984) show that this asymmetry leads managers to prefer internal funds to external funds. Funds are raised through equity issues only after the capacity to issue debt has been exhausted. In contrast, according to static tradeoff theory, an optimum financial structure exists by the tradeoff between tax saving by debt and bankruptcy costs. This study examines the recent changes of Korean firms' financial structure and financing behavior and the determinants of financial structure. The sample of firms comes from the period of $1996{\sim}2004$, and the number of firms is 32,003. The major findings are as follows. First, in contrast with previous studies using US firms as sample, Korean firms have been using debt financing as their major financing instrument. Especially, the firms in the fund deficit situation relies much more on $long{\sim}term$ and $short{\sim}term$ debts rather than on equity issues. Second, as is the case with previous studies using US firms sample indicates, the financing deficit variable can not explain perfectly the net debt issue. However, compared with net equity issue variable, net debt issue variable is more closely related to the financing deficit variable. Third, when financing deficit variable is added to the current list of explanatory variables of financial structure determinants model, it has a significant and positive explanatory power. In addition, the coefficients of determinants are much improved. Thus, it is concluded that although pecking order theory is not perfect, it appears to be more useful compared to static tradeoff theory, at least in explaining the recent financing behavior of Korean manufacturing firms.

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Access Restriction by Packet Capturing during the Internet based Class (인터넷을 이용한 수업에서 패킷캡쳐를 통한 사이트 접속 제한)

  • Yi, Jungcheol;Lee, Yong-Jin
    • 대한공업교육학회지
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    • v.32 no.1
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    • pp.134-152
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    • 2007
  • This study deals with the development of computer program which can restrict students to access to the unallowable web sites during the Internet based class. Our suggested program can find the student's access list to the unallowable sites, display it on the teacher's computer screen. Through the limitation of the student's access, teacher can enhance the efficiency of class and fulfill his educational purpose for the class. The use of our results leads to the effective and safe utilization of the Internet as the teaching tools in the class. Meanwhile, the typical method is to turn off the LAN (Local Area Network) power in order to limit the student's access to the unallowable web sites. Our program has been developed on the Linux operating systems in the small network environment. The program includes following five functions: the translation function to change the domain name into the IP(Internet Protocol) address, the search function to find the active students' computers, the packet snoop to capture the ongoing packets and investigate their contents, the comparison function to compare the captured packet contents with the predefined access restriction IP address list, and the restriction function to limit the network access when the destination IP address is equal to the IP address in the access restriction list. Our program can capture all passing packets through the computer laboratory in real time and exactly. In addition, it provides teacher's computer screen with the all relation information of students' access to the unallowable sites. Thus, teacher can limit the student's unallowable access immediately. The proposed program can be applied to the small network of the elementary, junior and senior high school. Our research results make a contribution toward the effective class management and the efficient computer laboratory management. The related researches provides teacher with the packet observation and the access limitation for only one host, but our suggested program provides teacher with those for all active hosts.

The Physiological Effects of Controlled Respiration on the Electroencephalogram (호흡유도(呼吸誘導)에 따른 전두부(前頭部) 뇌파(腦波)에 관한 연구(硏究))

  • Kim, Hye-Kyung;Shin, Sang-Hoon;Nam, Tong-Hyun;Park, Yong-Jae;Hong, In-Ki;Lee, Dong-Hoon;Lee, Sang-Chul;Park, Young-Bae
    • The Journal of the Society of Korean Medicine Diagnostics
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    • v.10 no.1
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    • pp.109-140
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    • 2006
  • Background: In practicing qigong, People must achieve three Points : adjust their Posture, control their breathing and have a peace of mind. That is, Cho-Sin [調身] , Cho-Sik [調息] , Cho-Sim [調心] . Slow respiration is the important pattern of respiration to improve the human health. However, unsuitable breathing training have been occurred to mental disorder such as insomnia, anorexia etc. So, we think that the breathing training to consider the individual variations are desired. Objectives: We performed this study to examine the physiological effects of controlled respiration on the normal range of frequency domain electroencephalogram(EEC) in healthy subjects Also, to study examine individual variations according to the physiological effects between controlled respiration and Han-Yeol [寒熱] , respiration period, gender and age-related groups on the EEC in healthy subjects. Methods: When the subjects controlled the time of breathing (inspiration and expiration time) consciously, compared with natural respiration, and that their physiological phenomena are measured by EEC. In this research we used breathing time as in a qigong training (The Six-Word Excise) and observed physiological phenomena of the controlled natural respiration period with the ratio of seven to three(longer inspiration) and three to seven(longer expiration) . We determined, heat-cold score by Han-Yeol [寒熱] questionnaire, average of natural respiration period, according to decade, EEC of 140 healthy subjects (14 to 68 years old; 38 males, 102 females) by means of alpha, beta spectral relative power. Results: 1) In Controlled respiration compared with the natural respiration, ${\alpha}\;I\;(Fp2)\;and\;{\beta}$ I (Fpl, Fp2, F3, F4) decreased on the EEC. 2) In controlled respiration compared with the natural respiration, ${\beta}$ I (Fpl, Fp2, F3, F4) increased with cold group, ${\alpha}/{\beta}$(F3) decreased with heat group, ${\alpha}$ I (Fp2)increased with cold group in longer inspiration. But by means of compound effects, ${\alpha}$ II(F3) increased with cold group in longer inspiration, the other side ${\alpha}$ I (F3) decreased with heat group in controlled respiration on the EEC. 3) In controlled respiration compared with the natural respiration, ${\alpha}$ I (Fp2) decreased with decreased-respiratory-rate(D.R.R.) group, ${\beta}$ I (Fpl, Fp2, F3, F4) increased with D.R.R. and D.R.R. groups, ${\alpha}/{\beta}$(F3) decreased with D.R.R. group. But by means of compound effects, in controlled respiration compared with the natural respiration, ${\alpha}/{\beta}$(F3) decreased with D.R.R. group on the EEG. 4) In controlled respiration compared with the natural respiration, ${\beta}$ I (Fpl, F3, F4) increased with female cup, ${\beta}$ I (Fp2) increased with male and female groups, ${\alpha}/{\beta}$(F3) decreased with male group. But by means of compound effects, in controlled respiration compared with the natural respiration, ${\alpha}$ I (Fp2) increased with female group on the EEC. 5) Compared with the natural respiration, in longer expiration ${\alpha}$ I (Fp2) increased in their forties group, in longer inspiration ${\alpha}$ I (Fp2) increased in their fifties group. But by means of compound effects, in controlled respiration compared with the natural respiration, ${\beta}$ I (Fpl) decreased in teens group on the EEG.

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A Study on the Relationship between Business Plan Components and Corporate Performance (사업계획서의 구성요소와 기업성과와의 관계에 관한 연구)

  • Koh, In-Kon;Lee, Sang-Seok;Kim, Dae-Ho
    • 한국벤처창업학회:학술대회논문집
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    • 2006.04a
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    • pp.45-75
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    • 2006
  • How much influence does a business plan have on a corporate performance? Whilst previous studies and literatures all assert a strong correlation between the two, very few have actually conducted practical analyses to support that. This study takes an empirical approach in its analysis of Korea' s small and medium-sized enterprises (SME) with the view to finding an answer to the question. A business plan' s components, which have to date been suggested only in theory and in concept, have been selected through the study of literatures and preliminary examination. The selected components were then narrowed down into five factors of productivity, implementation, operational direction, product/service and customer accessibility by applying factor analysis. With which items to measure corporate performance is also an important question as results differ depending on which measurement items were used. For the purpose of this study, corporate performance was classified into effectiveness, adaptability and efficiency to measure how greatly each is influenced by the components of a business plan. Results show that effectiveness and adaptability have a positive (+) influence on corporate performance. The regression model seems to explain effectiveness particularly well. However, different directions of influences were showed in explain power of the research model were not high. And it can be interpreted that implementation of the plan is as important as the establishment of it. Thus a good corporate performance is to be had only under an excellent plan and following an excellent implementation. In most of the companies surveyed, business plans were established regularly led by the intense involvement of the CEO. Such plans were then used in internal operations, such as guiding operational direction and measuring corporate performance. Unlike general expectations, relatively few companies used them in financing from external sources such as banks or venture capitals. These findings are different from previous studies conducted in this field. Also, as market uncertainty was pointed out as the biggest obstacle to business planning. a manager must pay more attention to acquiring external information and knowledge so as to minimize it.

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A study on ceremonial costume and Confucianism is Chosun Dynasty - Focusing on Men's Po - (조선시대(朝鮮時代) 유교사상(儒敎思想)과 의예복연구(儀禮服硏究) - 남자(男子) 포(袍)를 중심(中心)으로 -)

  • Lee, Sun-Jae
    • Journal of the Korean Society of Costume
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    • v.16
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    • pp.221-229
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    • 1991
  • This thesis aims at reviewing the wearing aspect and formation of Chosun ceremonial dresses for meal and finding out the thought reflected by them from the standpoint that dresses themselves should be taken as one of the phenomena in culture. That is men's ceremonial costumes and confucian costumes of the royal family and the gentry family in Chosun is reviewed focused on the formation and the wearing aspect of Po, Which is a kind of them. And in the context of the phase of the times. I also considered the thoughts reflected on the clothes such as confucianism, Ying & Yang Theory, and the symbol and the thoughts of patterns in relation to the clothes. Confucian influence was the main force for the Chosun prohibitions for clothes. The major reasons for the prohibitions for clothes were as follows. First, they reflected confucian Chung myoung chooui(the principle that everything should be where it belongs). That is the prohibitions for clothes were used in the means to maintain feudalistic social order. influenced by social rank system. Second, they reflected confucian ethics in the means to recover social disciplines with the maintenance of traditional customs. This shows well in the restriction of luxurious items in dressing included the prohibitions for clothes. Third, they reflected Chosun's toadysm toward China. With the influx of Chinese style of dressing then government even changed the style of uniforms for public officials into that of Chinese resulting in dual styles of dressing. Ying & Yan Theory greatly affected the colors of Korean clothes and reflected toadysm toward China. too. The theory was embodied by prohibition of such colors for clothes as white, gray, and jade green. I reviewed the twelve patterns on Myunpok, Ten-Longivity patterns and Four-Gracious plants patterns in order to analyze the symbolism and thoughts of patterns for clothes. Nansam, Dopo, and Shimui worn by confucian scholars ensures that those clothes bears confucianism and philosopical factors. As shimui was worn by many people it appears in Chosun scholars' studies and a Chinese book called "Yeki". I reviewed the origin, procession, and ornaments of four ceremonial clothes and tried to find out the confucianism in them. First, In Kwanrei (the coming-of-age ceremony) remained ancestor worship and respect for manners. The clothes for this ceremony granted the rights and responsibilities of and adult to the wearer. The royal Kwanreipok had different dresses for each rank. As Samgapok, the crown prince wore Iksunkwan and Konryongpo for the first ritual, Wonryukwan and Kangsapo for the second, and Myunrukwan and Konpok for the third. The rank of the King's grandson was lower than the crown prince's. This example shows that Chosun people respected manners and thought the basic confucianism "God and people are equal." at the Royal court. Second, as Honreipok(wedding gown), the crown prince wore Myunrukwan and Konpok for Daereipok, Wonyukwan and Kangsapo for Napjing and Tongwoo, and Iksunkwan and Konryongpo for Chekbinui. But common people were allowed to wear an official outfit only for wedding in the means of congratulation on the most important day of their life. Wedding gowns which reflected Ying and Yang Theory emphasized the thought that union of a man and a wife is the most important event in life. Third, Sangrei(funeral) was the last ritual of a human being to send off the deceased. The mourning dresses expressed lamentation of the people left behind. Five-Dress-System for each the relative degree of familarity showed the solemnity and formality, which represented the formality of confucianism and ancestor worship. I reviewed the mourning dresses by dividing them into royal, Yangban's, and commons. They were featured by the fact that there was only one style for every walk of life. It is construed that anyone in mourning can wear the same clothes since he feels the same way regardless of his social rank. Fourth, Chereipok(sacrificial rite dresses) had different styles for each social rank. The King wore Myunpok(Kuryumyun and Kujangpok) were recorded to be worn first in the fourth year of King Taecho's ruling. The crown prince wore Palryumyun and Chiljangpok for sacrificial rite dress which was finally settled when King Sejong was in power. Common people wore Dopo, Shimui for the rite dress in the beginning of the Chosun Era and wore Dopo after Japanese invasion of Korea in 1592. In conclusion, confucianism played the main role in ceremonial dress system of Chosun and that was because it emphasized the ethics of action in life, which was different from other religions. It is true that cause-oriented thoughts and Chung myoung chooui in confucianism drove all ceremonies to extreme manners, discriminating the people who belonged to the lower social rank, and resulting in extremly luxurious life style. However, they also created a unique trend and clothes culture in the Chosun Era. I wish that this thesis provieds important information and direction for furthur studies in the future.

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Prediction of Nitrate Contamination of Groundwater in the Northern Nonsan area Using Multiple Regression Analysis (다중 회귀 분석을 이용한 논산 북부 지역 지하수의 질산성 질소 오염 예측)

  • Kim, Eun-Young;Koh, Dong-Chan;Ko, Kyung-Seok;Yeo, In-Wook
    • Journal of Soil and Groundwater Environment
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    • v.13 no.5
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    • pp.57-73
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    • 2008
  • Nitrate concentrations were measured up to 49 mg/L (as $NO_3$-N) and 22% of the samples exceeded drinking water standard in shallow and bedrock groundwater of the northern Nonsan area. Nitrate concentrations showed a significant difference among land use groups. To predict nitrate concentration in groundwater, multiple regression analysis was carried out using hydrogeologic parameters of soil media, topography and land use which were categorized as several groups, well depth and altitude, and field parameters of temperature, pH, DO and EC. Hydrogeologic parameters were quantified as area proportions of each category within circular buffers centering at wells. Regression was performed to all the combination of variables and the most relevant model was selected based on adjusted coefficient of determination (Adj. $R^2$). Regression using hydrogelogic parameters with varying buffer radii show highest Adj. $R^2$ at 50m and 300m for shallow and bedrock groundwater, respectively. Shallow groundwater has higher Adj. $R^2$ than bedrock groundwater indicating higher susceptibility to hydrogeologic properties of surface environment near the well. Land use and soil media was major explanatory variables for shallow and bedrock groundwater, respectively and residential area was a major variable in both shallow and bedrock groundwater. Regression involving hydrogeologic parameters and field parameters showed that EC, paddy and pH were major variables in shallow groundwater whereas DO, EC and natural area were in bedrock groundwater. Field parameters have much higher explanatory power over the hydrogeologic parameters suggesting field parameters which are routinely measured can provide important information on each well in assessment of nitrate contamination. The most relevant buffer radii can be applied to estimation of travel time of contaminants in surface environment to wells.

A Study on the Necessity of Making Online Marketplace for the Korean Animation Industry (국내 애니메이션 산업의 온라인 마켓플레이스 구축 필요성 연구)

  • Han, Sang-Gyun
    • Cartoon and Animation Studies
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    • s.24
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    • pp.223-246
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    • 2011
  • Today, cultural content industry could be defined to service business rather than manufacturing business because of its own trait. Also, it has the realistic restriction that it can't hold the dominant position in the market competition when it can't provide consumers satisfaction regardless of its quality or degree of completion. In other word, it can only expect great success when the business plan and the activities get the perfect balance with its best quality and perfect of completion. As the result, it emphasizes the importance of business competition in the global market. In briefly, there is no doubt that the creativeness of content is very important in the cultural content industry but in the future, making system to maintain the distribution process and share the profits fairly will be taken more important role. Especially, animation genre has the feature, which compares to other genres, such as film or TV drama, would be free from cultural barriers, and it is a great advantage. So to speak, animation can get little influence from cultural discount. However, Korean animation can't use the advantage properly for the foreign distribution because of its poor infrastructure and short of professional human resources. For those reasons, it has been needed to set up the realistic and specific action plan to overcome the situation. Therefore, considering those needs and the situations of Korean animation facing, making B2B online marketplace could be a great solution. The online marketplace stands for taking more efficient and broad distribution channel instead of the passive way, which we have now. If we have the B2B online marketplace, we can share all the information about the Korean animation with the potential customers whom live outside of Korea at real time. It also could be use to the windows of multiple distribution, which can make additional profits and activate the optional markets for the Korean animation. Through the method, Korean animation would be expected to get the higher international competitiveness, and it would be developed in quality and quantity of the business. Finally, it would be a great chance to Korean animation, which can get the unique brand power by improving the backward distribution circumstances.

Survey on Practical use of Sanitizers and Disinfectants on Food Utensils in Institutional Foodservice (단체급식소의 기구등의 살균소독제 사용실태 조사)

  • Lee, Yu-Si;Lee, Seong-Hee;Ryu, Kyung;Kim, Yong-Soo;Kim, Hyung-Il;Choi, Hyun-Chul;Jeon, Dae-Hoon;Lee, Young-Ja;Ha, Sang-Do
    • Journal of Food Hygiene and Safety
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    • v.22 no.4
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    • pp.338-345
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    • 2007
  • This study surveyed on the actual conditions of using sanitizers and disinfectants for improvements of sanitization on food utensils at 105 school and 20 industry foodservice operations. The questionnaire which was administered to 125 foodservices was used as a mail or visitation method. The answers of asking "Perception on temporary authorization system of sanitizers and disinfectants on food utensils" were 75% in contract managed school foodservices, 81.8% in self operated school foodservices, and 50% in industry. Main factors to choose sanitizers were sterilizing power (38.6%, 28.6%, 38.9%) and safety (32.6%, 46.1%, 33.3%) at every foodservices. Keeping ratio of sanitizers and disinfectants guidelines in contract managed school, self operated school and industry foodservices were 64.8%, 52% and 73.7%, respectively. If easy and practical guideline is developed, most foodservices replied to use if for disinfection of foodservices. Most of the foodservices were not only knowing sanitizers and disinfectants but also possessing a guideline. However, they didn't perform disinfection according to the guideline due to its complexity. Consequently, we suggest that it is necessary to provide an easy and practical "sanitizers and disinfectants guideline" and useful information.

THE CURRENT STATUS OF BIOMEDICAL ENGINEERING IN THE USA

  • Webster, John G.
    • Proceedings of the KOSOMBE Conference
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    • v.1992 no.05
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    • pp.27-47
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    • 1992
  • Engineers have developed new instruments that aid in diagnosis and therapy Ultrasonic imaging has provided a nondamaging method of imaging internal organs. A complex transducer emits ultrasonic waves at many angles and reconstructs a map of internal anatomy and also velocities of blood in vessels. Fast computed tomography permits reconstruction of the 3-dimensional anatomy and perfusion of the heart at 20-Hz rates. Positron emission tomography uses certain isotopes that produce positrons that react with electrons to simultaneously emit two gamma rays in opposite directions. It locates the region of origin by using a ring of discrete scintillation detectors, each in electronic coincidence with an opposing detector. In magnetic resonance imaging, the patient is placed in a very strong magnetic field. The precessing of the hydrogen atoms is perturbed by an interrogating field to yield two-dimensional images of soft tissue having exceptional clarity. As an alternative to radiology image processing, film archiving, and retrieval, picture archiving and communication systems (PACS) are being implemented. Images from computed radiography, magnetic resonance imaging (MRI), nuclear medicine, and ultrasound are digitized, transmitted, and stored in computers for retrieval at distributed work stations. In electrical impedance tomography, electrodes are placed around the thorax. 50-kHz current is injected between two electrodes and voltages are measured on all other electrodes. A computer processes the data to yield an image of the resistivity of a 2-dimensional slice of the thorax. During fetal monitoring, a corkscrew electrode is screwed into the fetal scalp to measure the fetal electrocardiogram. Correlations with uterine contractions yield information on the status of the fetus during delivery To measure cardiac output by thermodilution, cold saline is injected into the right atrium. A thermistor in the right pulmonary artery yields temperature measurements, from which we can calculate cardiac output. In impedance cardiography, we measure the changes in electrical impedance as the heart ejects blood into the arteries. Motion artifacts are large, so signal averaging is useful during monitoring. An intraarterial blood gas monitoring system permits monitoring in real time. Light is sent down optical fibers inserted into the radial artery, where it is absorbed by dyes, which reemit the light at a different wavelength. The emitted light travels up optical fibers where an external instrument determines O2, CO2, and pH. Therapeutic devices include the electrosurgical unit. A high-frequency electric arc is drawn between the knife and the tissue. The arc cuts and the heat coagulates, thus preventing blood loss. Hyperthermia has demonstrated antitumor effects in patients in whom all conventional modes of therapy have failed. Methods of raising tumor temperature include focused ultrasound, radio-frequency power through needles, or microwaves. When the heart stops pumping, we use the defibrillator to restore normal pumping. A brief, high-current pulse through the heart synchronizes all cardiac fibers to restore normal rhythm. When the cardiac rhythm is too slow, we implant the cardiac pacemaker. An electrode within the heart stimulates the cardiac muscle to contract at the normal rate. When the cardiac valves are narrowed or leak, we implant an artificial valve. Silicone rubber and Teflon are used for biocompatibility. Artificial hearts powered by pneumatic hoses have been implanted in humans. However, the quality of life gradually degrades, and death ensues. When kidney stones develop, lithotripsy is used. A spark creates a pressure wave, which is focused on the stone and fragments it. The pieces pass out normally. When kidneys fail, the blood is cleansed during hemodialysis. Urea passes through a porous membrane to a dialysate bath to lower its concentration in the blood. The blind are able to read by scanning the Optacon with their fingertips. A camera scans letters and converts them to an array of vibrating pins. The deaf are able to hear using a cochlear implant. A microphone detects sound and divides it into frequency bands. 22 electrodes within the cochlea stimulate the acoustic the acoustic nerve to provide sound patterns. For those who have lost muscle function in the limbs, researchers are implanting electrodes to stimulate the muscle. Sensors in the legs and arms feed back signals to a computer that coordinates the stimulators to provide limb motion. For those with high spinal cord injury, a puff and sip switch can control a computer and permit the disabled person operate the computer and communicate with the outside world.

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A Study on Korea Coast Guard Intelligence Centered on legal and Institutional comparison to other organizations, domestic and international (해양경비안전본부 정보활동의 법적·제도적 측면의 문제점 분석 및 개선방안 연구)

  • Soon, Gil-Tae
    • Korean Security Journal
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    • no.44
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    • pp.85-116
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    • 2015
  • Found in 23 Dec 1953 to cope with illegal fishing of foreign ships and coastal guard duty, Korea Coast Guard was re-organized as an office under Ministry of Public Safety since the outbreak of sinking of passenger ship "Sewolho". In the course of re-organization, intelligence and investigation duty were transferred to Police Department except "Cases happened on the sea". But the definition of intelligence duty is vague and there are lots of disputes over the jurisdiction and range of activities. With this situation in consideration, the object of this study is to analyse legal and institutional characteristic of KCG Intelligence, to compare them to that of Police Department, foreign agencies like Japan Coast Guard and US Coast Guard, to expose the limit and to suggest solution. To summarize the conclusion, firstly, in the legal side, there is no legal basis on intelligence in [The Government Organization Act], no regulation for mission, weak basis in application act. Secondly, in the institutional side, stated in the minor chapter of [The Government Organization Act], 'the cases happened on sea' is a quite vague definition, while guard, safety, maritime pollution duty falls under 'on the sea' category, intelligence fell to 'Cases happened on the sea' causing coast guard duty and intelligence have different range. In addition, reduced organization and it's manpower led to ineffective intelligence activities. In the case of Police Department, there is definite lines on 'administration concerning public security' in [The Government Organization Act], specified the range of intelligence activities as 'collect, make and distribute information concerning public security' which made the range of main duty and intelligence identical. Japanese and US coast guards also have intelligence branch and performing activities appropriate for the main missions of the organizations. To have superiority in the regional sea, neighboring countries Japan and China are strengthening on maritime power, China has launched new coast guard bureau, Japan has given the coast guard officers to have police authority in the regional islands, and to support the objectives, specialized intelligence is organized and under development. To secure maritime sovereignty and enhance mission capability in maritime safety duty, it is strongly recommended that the KCG intelligence should have concrete legal basis, strengthen the organization and mission, reinforce manpower, and ensure specialized training administrative system.

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