• Korean Journal of Soil Science and Fertilizer
• /
• v.29 no.2
• /
• pp.130-136
• /
• 1996

This study was carried out easily to determine the refreshing time of natural Zeolite used for the clearing of Livestock waste water and to investigate the relationship between EC of solution and adsorption amount on Zeolite. During the adsorption reaction, EC of supernatant solution decreased till the equilibrium was reached and kept a constant level after it. EC was greatly decreased with the concentration of solution and the magnitude of adsorbent. Decrease in EC of suspension was found to be lesser in addition of Na-Zeolite than Ca-Zeolite. EC change of Livestock waste water was shown to be similar tendency to that of the simulated waste water. On the cumulative adsorption isotherm, the EC of suspension increased until the EC value of the initial solution as the increase in treatment times. Therefore, it is apparent that the exchange point of natural zeolite should be in the vicinity of the EC value of initial waste water.

• Management & Information Systems Review
• /
• v.29 no.4
• /
• pp.23-44
• /
• 2010

This study examines the value-relevance of accruals and discretionary accruals. Also, by examining the effects of the corporate life-cycle on these relationship, this study is able to provide evidence of the value-relevance of accruals and discretionary accruals measures in the economic context of life-cycle theory. This study uses results based on life-cycle classification methods developed by Anthony and Ramesh(1992), adjust Jones model and Dechow Dechev(2002) model. We classify firms using individuals variables(sales growth, capital expenditure growth, employee growth) and then use a composite score obtained from all variables for classification. Our sample consists of 272 firms listed in the Korean Stock Exchange during 14 years(1996-2009). Our final sample for regression variables consists of 2,448 firm-year observations. This evidence implies that the value-relevance of accruals and discretionary accruals in the growth and mature stage can have positive impact on the price but in the decline the value-relevance of accruals and discretionary accruals can have negative impact on the price. The results mean that discretionary accruals communicate managements' private information in the growth stage, but. earnings management in the decline stage. The results of this study suggest that corporate life cycle stages influence the value-relevance of accruals and discretionary accruals measures.

• Korean Journal of Veterinary Research
• /
• v.12 no.1
• /
• pp.37-50
• /
• 1972

Another comparison of alveolar gas pressures, in a continuously rebreathing dog lung, with pulmonary arterial (mixed venous) blood, again showed alveolar pressures to be the higher for $CO_2$ and usually $O_2$ (positive ${\Delta}Pco_2$, and ${\Delta}Po_2$). ${\Delta}Pco_2$ was almost invariably positive, it was independant of time and of plasma pH changes produced by acid or bicarbonate infusion, but proportional to blood $CO_2$ level. It was seemingly little affected by the distribution or magnitude of blood flow nor did it result from failure of $CO_2$ equilibrium within the blood, but it did rise with carbonic anhydrase inhibition. ${\Delta}Po_2$ was more variable and sometimes negative, particularly at low blood flow rates. It seemed in dependant of time, and plasma pH changes, apart from an inverse relationship with that resulting from $CO_2$ changes. It existed despite considerable potential for gas exchange, and was unaffected by inhibition of the $CO_2$ reactions.

• Journal of the Economic Geographical Society of Korea
• /
• v.14 no.4
• /
• pp.453-466
• /
• 2011

The main aim of this paper is to explore the Korean development strategy in the context of trajectories of the economic development from 1961 to 2010. The fast and high growth in the period of 1961 and 2010 resulted from the 'export-oriented industrialization' through a combination of 'mass production-mass exports' and '(relatively) high productivity-low wages' up to the late 1980s, a mixture of 'mass production-mass exports' and '(relatively) high productivity-high wages' to the late 1990s, and a combination of the reformation of public and private sectors for overcoming the Korean financial crisis and the gradual improvement of the marketization and social safety net since 2000. With respect to this model of development, the global and national modes of regulation were established. Along with the formation of endogenous forces (as the national mode of regulation), that of exogenous forces (as the global mode of regulation) are the important rules of the game at the global level, which lead and stabilize the process of accumulation by the export-led industrialization in Korea. In this respect, the establishment of global modes of regulation is led by exogenous forces such as trade regulations, exchange rates, global-Korean industrial relations, and global regulations of loans to developing countries. On the other hand, the national modes of regulation are formed by endogenous forces such as the triangular relationship of the state, capital and labor.

• Journal of the Korea Academia-Industrial cooperation Society
• /
• v.18 no.9
• /
• pp.146-156
• /
• 2017

In this study, the causal relationship between the main factors influencing the import of agricultural products and the changes in agricultural imports was investigated. In addition, we compared the magnitude of the impact of each factor on the changes in agricultural imports. It was found that the import liberalization rate, which represents the FTA factors and reflects the per capita GDP, the conditions of supply and demand of agricultural products in exporting countries and the changes in exchange rates, affects the changes of the agricultural products imports. However, the factors affecting the change of the imports by agricultural product category and the magnitude of the influence by each factor were different. This shows that various factors, other than the FTA factors, are compounding the changes in the agricultural imports. In the future, the market openings due to the implementation of the FTA will be further enlarged and the economic territory of the FTA will be further expanded, due to the implementation of additional FTAs, and the changes in the imports of agricultural products will cause damage to the domestic agricultural sector.

• KDI Journal of Economic Policy
• /
• v.14 no.1
• /
• pp.167-189
• /
• 1992

The most difficult problem one faces in estimating North Korea's GNP is the lack of basic national income data. In addition, there is no appropriate foreign exchange rate available to convert North Korea's GNP to dollar values. The physical indicators method is particularly useful in estimating North Korean GNP because it requires only a modest amount of data and obtains dollar GNP directly by applying a relationship between physical indicators and GNP, which is estimated from reference countries, to physical indicators of North Korea. The estimated result of North Korean GNP in 1990 is 27.1 billion dollars and per capita GNP 1,268 dollars. The trade participation ratio (Trade/GNP) implied by the GNP estimate was plausible and so was the ratio of fiscal expenditure to GNP. This paper examined the physical indicators method's logic, the quality of the North Korean data that was used in the estimation, and the plausibility of estimation result. Relatively simple data requirement, comparative ease of computation and plausible estimation results suggest that use of physical indicators method could enhance the reliability of North Korean GNP estimate.

• Journal of Distribution Science
• /
• v.14 no.2
• /
• pp.113-121
• /
• 2016

Purpose - The purpose of this study is to identify team commitment affecting employees' innovative activities and factors affecting team commitment including empowerment by leaders and job enrichment factors. In other words, so as to explain outcome variables of innovative activities, this study aims to emphasize employees' attachment roles towards their groups within nomological network, and identify the motives encouraging employees' innovative activities. The research purpose is significant due to the realistic situation of hotel industry. The reason why innovative activities are important can be found in recent changes of business environment. Also, unlike other various studies on precedence factors encouraging employees' innovative activities, this study classified those precedence factors into job and leader characteristics, and it emphasized the importance of team commitment as the process that job and leader characteristics are connected to innovative activities. Research design, data and methodology - The survey for this study was conducted during October 6^th ~ November 10^th in 2014 to the employees who are working in 5-star hotels in Korea. As for the selection of hotels and sampling method, convenience sampling method was used to the employees in 5-star hotels. Self-report method was used in the survey, judging that the employees' characteristics would be relatively homogeneous. 311 questionnaires were distributed in total, and 275 reponses were collected. After excluding the missing and unreliable responses, 245 questionnaires were used in the research. SPSS and AMOS programs were used for the analysis. Results - First, empowering leadership had positive effects on hotel employees' team commitment. It indicates that hotel employees are more committed to their team when their leaders set examples, provide information, and involve employees in decision-making process. Second, as a result of the relationship analysis in task diversity, task significance, task identity and team commitment, task diversity and task significance had significant effect on team commitment, while task identity had no significant effect on team commitment. It indicates that team commitment is enhanced when the employees can conduct diverse types of jobs and get more opportunities to talk with the guests. Also, the repetition for the same jobs in hotel rooms and the space for preparing food and beverage do not lead to team commitment, even though the employees fulfill their duties to the end. Third, hotel employees' team commitment has positive effect on their innovative activities. It indicates that employees voluntarily conduct innovative activities when they are attached to their team and identifies themselves with the team. Conclusions - There are theoretical and practical implications in this study. First, in terms of the theoretical perspective, this study proposes structural framework in team commitment, and it identifies the psychological mechanism in team commitment from the aspect of social exchange, which resulted in identification of precedence factors related to team commitment. In addition, this study presents new possibilities for relevant studies about team commitment by examining the effect on team commitment when the importance of innovative activities is emphasized in recent business environment.

• Journal of the Korean GEO-environmental Society
• /
• v.11 no.1
• /
• pp.19-26
• /
• 2010

The batch experiments and response surface methodology (RSM) have been applied to the investigation of the cadmium (Cd) adsorption by coal fly ash (CFA). CFA having maximum Cd removal mass of 8.51 mg/g were calculated from Langmuir model. Cd removal reaction with different initial pH ranged from 4 to 9. When the initial pH was higher, Cd was removed more by adsorption and precipitation. These results suggest that the lower pH cause an increase of $H^+$ ion concentration which competed with Cd ions for exchange sites in CFA. Also, The Cd adsorption was mathematically described as a function of parameters initial Cd concentration ($X_1$), initial pH ($X_2$), and initial CFA mass ($X_3$) being modeled by use of the Box-Behnken methods. Empirical models were developed to describe relationship between the experimental variables and response. Statistical analysis indicates that tree factors ($X_1$, $X_2$, and $X_3$) on the linear term (main effects), and tree factors ($X_1X_2$, $X_1X_3$, and $X_2X_3$) on the non-linear term (Interaction effect; cross-product) had significant effects, respectively. In this case, the value of the adjusted determination coefficient (adjusted $R^2=0.9280$) was closed to 1, showing a high significance of the model. Statistical results showed the order of Cd removal at experimental factors to be initial initial pH > initial Cd concentration > initial CFA mass.

• The Korean Journal of Financial Management
• /
• v.25 no.2
• /
• pp.191-213
• /
• 2008

This study tests and reconfirms the wealth transfer of mergers and acquisitions(M&As) by examining the changes in and the relationship between shareholder and bondholder wealth after the announcements of M&As for the publicly listed firms in Korea Stock Exchange and KOSDAQ market during $1999{\sim}2006$. The change in shareholder wealth is measured by the Cumulative Abnormal Return(CAR) at the M&A announcements, and the change in bondholder wealth is calculated using the Yield Spread Change(YSC) and the change in acquiring firms' credit ratings. The empirical tests show that the CAR of 344 sample acquiring firms at the announcement is 3.59%, which confirms results of the prior research on M&As in Korean market. The average YSC for 35 sample acquiring firms between $2001{\sim}2006$ proves to be negative when we use the yield spread of firms with comparable credit ratings as a benchmark, which means that the acquiring firms' bondholders gain with the announcements of M&As. We find the same result using another benchmark-the yield spread of government bonds. The improvement in the acquiring firms' credit ratings one year after the M&As also indicates that the M&As, on average, increase bondholder wealth. Our test results are consistent with those of the existing studies on the effect of bondholder wealth after the M&As in the United States, which shows that the bondholder wealth increases after the M&As. We do not find the evidence that there is a wealth transfer from the acquiring firms' bondholders to the shareholders after the M&A announcements. Rather, this study confirms that the wealth of the acquiring firms' bondholders increases in the M&As in Korea.

• The Korean Journal of Financial Management
• /
• v.25 no.2
• /
• pp.1-31
• /
• 2008

Before the financial crisis in 1997, Korean bond markets had been those of corporate bonds with relatively high market yield. During the period, most of major institutional investors tend to utilize passive strategies such as buying and holding. After the crisis, however, they could not help choosing active bond management strategies because of lowed yield level and intensified competition among the financial institutions. This study is forced on the yield curve, which is the reflection of all information on the bond investment environments. The study also make analysis on the major economic and securities market factors and its structural relationship with the shape of the curve such as level, curvature and slope. For these purposes, an empirical model based on the Nelson-Siegel Model is estimated with the data during $1999{\sim}2006$. Out-of-sample forecasting is also made to test the usefulness of the estimated model. In addition, the dependent variables which are the estimates of level and slope are estimated on the macro variables and securities market variables. VAR and SUR models are used for the estimation. Estimation results show that level and slope of the yield curve are influenced by the target call rate change, exchange rate change rate, inflation rate. These results provide practical implications for the active managements in the overall treasury bond markets.