• Journal of Distribution Science
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• v.13 no.10
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• pp.65-72
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• 2015

Purpose - A rapidly changing business environment places great demands on small and medium-sized enterprises (SMEs). These SMEs need to find strategic alternatives for continued growth and, ultimately, survival. Thus, mergers and acquisitions (M&A) are deemed an acceptable solution. Research to date has dealt with M&A in major organizations and focused on post merger integration (PMI). Our study focuses on SMEs, as they are relatively new and unknown to the public. Therefore, this study highlights successful M&A and decision making for SMEs through a case study analysis. Research design, data, and methodology - For this study, we examined an M&A case between company S, which produces cell phone parts, and company P, which produces SSD cases. We reviewed theories and previous studies in M&A literature. We comprehensively examined the decision-making procedure at each M&A stage, describing the situation of the buying company and the selling company from the period of the M&A announcement through deal completion. In addition, we conducted interviews with both companies. The data regarding this case study were collected through interviews with managers of both companies who actively participated in the M&A process. When necessary, we asked them about additional relevant information during the interviews. Results - The result of the M&A between company S and company P was deemed acceptable with the exception of the long negotiation period. However, company S was not able to prepare for PMI after the acquisition due to a controversy over acquisition values. Moreover, the employees of the newly formed company, especially those who came from company P, complained about the M&A and attempted to leave. Thus, implications for successful M&As of SMEs are as follows: First, the procedural compliance of the M&A is needed. Second, support is needed from the CEO for the working group, rather than excessive intervention during due diligence. Third, the right, talented members of the organization should be part of the process of the M&A. Fourth, the use of various types of outside expert or business consultants is needed. Fifth, the strategic intervention by Human Resource managers is required. Last, sharing M&A information among employees is important as information dissemination will help employees be more receptive to such a change. However, this study has several limitations as a single case study; more varied SME M&A case studies are needed in order to generalize the results of the study. Conclusions - Most of the research dealing with M&As has focused on major companies and PMI and neglected SMEs. Thus, our study focuses on SMEs and the decision-making procedures for M&A. This study has significantly contributed to the literature in this area and has provided practical information around the implications of sound decision-making during M&As. Specifically, the results of the study contribute to the need for research on M&A among SMEs, which to date has often been neglected as a topic of choice.

• Journal of the Korean Electrochemical Society
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• v.6 no.4
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• pp.242-249
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• 2003

Zn electrode was widely used as an anode material in alkaline battery systems in highly concentrated KOH electrolyte, however it was well known that its cycle life is significantly shortened by growth of dendrite due to the high dissolution of $Zn(OH)_2$ and rapid electrochemical reaction. In this study when by the additives such as $Ca(OH)_2$, Citrate, tartrate and Gluconate were added to $40\%$ KOH electrolyte at solution temperature of $25^{\circ}C$ and the amount of $5wt\%\;Pb_3O_4$ was mixed to Zn electrode and then the effect of $Pb_3O_4$ and additives on the electrochemical behavior of Zn electrode was investigated by Potentiodynamic Polarization Curves, Cyclic Voltammetry, Accelerated Life Cycle lest, and SEM image analyses. The addition of $Pb_3O_4$ reduced the corrosion rate of Zn electrode. The corrosion potential of Zn electrode with $Pb_3O_4$ was higher or lower than that of pure Zn electrode however was not influenced practically to the open circuit voltage. And the addition of 4 type additives had an important role in improving both cycle life in accelerated cycle life test and corrosion resistance. Furthermore the additive of Tartrate indicated comparatively a good effect to corrosion resistance as well as charging-discharging property Improvement among those four type additives.

• Asian-Australasian Journal of Animal Sciences
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• v.17 no.3
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• pp.401-409
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• 2004

Two experiments were conducted to evaluate the effects of a complex Lactobacilli preparation on performance, resistance to E. coli infection and gut microbial flora of weaning pigs. In exp. 1, twelve pigs (7.65$\pm$1.10 kg BW), weaned at 28 d, were randomly allotted into 2 groups and placed in individual metabolic cages. During the first 7 d, one group of pigs was provided ad libitum access to water containing $10^5$ colony forming units (CFU) Lactobacilli per ml and the control group was provided tap water. The Lactobacilli preparation included Lactobacillus gasseri, L. reuteri, L. acidophilus and L. fermentum, which were isolated from the gastrointestinal (GI) tract mucosa of weaning pigs. On d 8, 20 ml of $10^8$ CFU/ml E. coli solution (serovars K99, K88 and 987P at the ratio of 1:1:1) was orally administered to each pig. Diarrhea scores and diarrhea incidence were recorded from d 7 to 14. On d 14, pigs were euthanized and digesta and mucosa from the stomach, duodenum, jejunum, ileum, cecum and colon were sampled using aseptic technique to determine microflora by culturing bacteria in selective medium. The results showed that Lactobacilli treatment significantly decreased E. coli and aerobe counts (p<0.01) but increased Lactobacilli and anaerobe counts (p<0.01) in digesta and mucosa of most sections of the GI tract. A 66 and 69.1% decrease in diarrhea index and diarrhea incidence, respectively, was observed in the Lactobacilli treated group. In exp. 2, Thirty-six crossbred Duroc$\times$Landrace$\times$Yorkshire piglets, weaned at 28$\pm$2 days, were selected and randomly allocated into 2 groups. There were 18 piglets in each group, 3 piglets in one pen and 6 replicates in each treatment with 3 pens of barrow and 3 pens of female piglet in each treatment. Piglets had ad libitum access to feed and water. The initial body weight of piglet was 7.65$\pm$1.09 kg. Dietary treatments included a non-medicated basal diet with Lactobacilli ($10^5$ CFU/g diet) or carbadox (60 mg/kg) as control. On d 21, six pigs per group (one pig per pen) were euthanized. Ileal digesta was collected to determine apparent amino acid digestibility. Microflora content was determined similarly to exp.1. The results showed that Lactobacilli treatment significantly improved average daily feed intake (ADFI) of pigs compared to carbadox (p<0.05) during the first 2 wks after weaning and average daily gain (ADG) and ADFI increased significantly (p<0.05) from d 8 to 14. Nitrogen and total phosphorus digestibility also increased (p<0.05). Bacterial counts were similar to exp. 1. The results indicate that the complex Lactobacilli preparation improved performance for 2 wks after weaning, enhanced resistance to E. coli infection, and improved microbial balance in the GI tract.

• Journal of Mushroom
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• v.8 no.1
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• pp.16-21
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• 2010

Sparassis crispa(Cauliflower mushroom) was an edible mushroom that shows remarkably high contents of 1.3-${\beta}$-Dglucan compared to other edible mushroom. The mushroom was known to give high antitumor and immunology activated, and then this mushroom was recently cultivated in Japan and Korea. However, cultivation methods ware becoming kept in secret or patents by some companies with complicated procedures. And it was not established cultivation methods of Sparassis crispa up to now. This study was conducted to solve the problem by short-log cultivation method of Sparassis crispa. Some factors effecting on the mycelial growth and primordial formation of Sparassis crispa were investigated. We could produce the mushroom using short-woods of Larix leptolepis, Pinus densiflora, Pinus rigida and Quercus acutissima. We get to high yield fruit-body on short-log cultivaiton of Pinus rigida. And soaking for 8hours in water solution containing 5% uncooked yeast with short-wood of Pinus rigida. The optimal moisture content and temperature were 90~95% and $23{\sim}25^{\circ}C$, respectively.

• Applied Biological Chemistry
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• v.40 no.3
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• pp.232-237
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• 1997

Soybean plants inoculated Bradrhizobium japonicum MN 110 were grown in outdoor perlite pots with nitrogen free nutrient solution containing 1.0 mM-P(control) and 0.05 mM-P(stress) and harvested at 28, 35, 42 and 49 days after transplanting (DAT) to examine the effect of phosphorus deficiency on ureide concentration of and distribution to diffrent plant organ in nitrogen fixing soybean plant during the vegetative growth. Total dry mass of control plants increased 8.9 fold and that of phosphorus deficient plant increased 2.7 fold during the experimental period. Phosphorus deficiency reduced total phosphorus and nitrogen accumulation by 80%,40% respectively, at 28 DAT and 93%, 84%, respectively, at 49 DAT. Nitrogen concentration was reduced by phosphorus deficiency in all tissues with leaf and stem tissues affected to a greater degree than nodule and root tissues at every sampling date. Phosphorus deficiency significantly reduced soluble reduced-N and ureide-N concentration in leaf and stem but did not affect those in root. The proportion of soluble reduced-N in leaf was reduced from 60% to 50% but increased from 10% to 20% in the roots. The proportion of ureide-N in leaf of control plants was higher than that in phosphorus deficient plants, whereas, roots of phosphorus deficient plants contained a higher propotion of ureide-N than those of control plants. These indicated that phosphorus deficiency not only inhibit nitrogen fixation of nodules but also restrict the translocation of fixed nitrogen out of the root system into the xylem.(Received April 4, 1997; accepted May 2, 1997)

• Korean Journal of Agricultural and Forest Meteorology
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• v.16 no.2
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• pp.146-154
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• 2014

In the result of effect on freezing damage reduction by the shade net colors and the shade rate to tea trees during wintering period, the high shade ratio decreased tea trees growth and increased freezing damage and 55% of shade ratio based on non treatment developed new leafs and green leaf productivity. By the shade net colors, colorless shade net (55% of shade type) treatment and green shade net treatment increased green leaf productivity and decreased damaged area compare to non treatment shade net and black shade net treatment. Colorless net shade treatment reduced over 50% of freezing damage and increased (10a) 68 kg for green leaf productivity compare to non treatment shade net. The colors of shade net treatments for reduction freezing damaged in order of Black < Green < Colorless but reduction of freezing damage was so high. In the relative microclimates, treatment shade nets were $0.7^{\circ}C$ lower, average relatively humidity 14.9% higher, soil temperature $0.6^{\circ}C$ lower and soil moisture 4.6% higher than non treatment shade net. And treatment shade nets decreased average wind speed 0.7 m/s and it showed us treatment net shades effected to excessive evapotranspiration and soil dry by wind and considered one of good solution for freezing damages.

• Korean Journal of Soil Science and Fertilizer
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• v.15 no.2
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• pp.110-116
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• 1982

A water culture was conducted with 5 levels of nitrate-ammonium ratio (NAR: 10:0, 7:3, 5:5, 3:7, 0:10) to study the ionic balance, cation-anion (C-A) in mulberry leaves and to determine the optimum NAR for the greatest leaf yields. The results were as follows: 1. The growth rate of mulberry plants was the greatest at 7:3 NAR. 2. Magesium in the mulberry leaves was not affected by NAR. By lowering NAR, calcium content decreased more than potassium content increased, consequently lowering the sum of cation content (${\sum}C$). However, the sum of anion (${\sum}A$) increased because of increments of sulphate, chloride and especially phosphate. 3. Ionic balance in the mulberry leaves deceased from 727 to 116 me/Kg dry matter with increasing ammonium levels of 0 to 100% in the nutrient solution.

• Korean Journal of Soil Science and Fertilizer
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• v.41 no.3
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• pp.153-157
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• 2008

This study was conducted to select some effective organic materials for supplying mineral nutrients at the later red-pepper growing period under organic farming system, and to evaluate the application effect. Nutritional characteristics of organic materials, nitrogen release pattern during liquefying the selected organic materials, and crop growth were examined. Among 18 organic materials, meals such as soybean, rapeseed, cottonseed, and sunflower seed except for gluten had greater nitrogen content. Total nitrogen content liquefied solution of the mixture of organic materials and molasses or yogurt was measured after 7 days of the liquefying, thereafter, the mixture of rapeseed meal and yogurt showed the highest nitrogen, reaching about $3,000mg\;L^{-1}$. Selected liquid manure, mixture of rapeseed meal and yogurt, was applied 8 times to red-pepper plants with fertigation or foliar application. Total nitrogen of leaves at 150 days after transplanting was the highest (4.4%) in the treatment of foliar application of the selected liquid manure, whereas shoot dry weight and fresh fruit yield were the greatest in the treatment of fertigation.

• Journal of Plant Biotechnology
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• v.30 no.4
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• pp.411-419
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• 2003

The potent biosynthetic precursors, 24$\alpha$-methylcholesterol and 24$\alpha$-methylcholestanol, and the endogenous brassinosteroids (BRs), castasterone (CS) and 6-deoxocastasterone (6-deoxoCS), were identified from shoots of maize seedlings. In addition, the presence for activities of several enzymes involved in the late C6-oxida-lion pathway from 24$\alpha$-methylcholestanol to CS was demonstrated in the plants. However, activity for brassinolide (BL) synthase which catalyze the conversion of CS to BL, the last step of the late C6-oxidation pathway, was not detected in the enzyme solution obtained from the maize shoots. Together with the fact that BL was not identified from the maize shoots, these results strongly suggested that BRs in the maize shoots are biosynthesized during seedling growth and the active BR in the shoots is not BL but CS.

• Land and Housing Review
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• v.3 no.4
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• pp.423-431
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• 2012

The trends of Green growth and environmentally-friendliness came to be the key development indicator for sustaining global environment for the future. Korean government reflected these trends in the main flows of the national development index. Korean construction industry is concentrating investment on fields related to these trends such as technologies for carbon dioxide deduction, materials or products for environmentally-friendly building and alternative energy development, as well. However, efforts to follow these trends during the construction process as a step for production phrase are not being considered enough. In this study, we analysed current status and points to be improved of on-site environment management by surveying major project owners and representatives of the environmental affairs in the leading companies of those fields. Also, we suggested organizational structure and operation model as a solution for enhancing environmentally-friendliness for systematic approach to manage on-site environment in public construction sites. In addition to these solutions, further approaches such as shifting paradigm of project owners and contractors, securing workforce and practical budget for efficient management activities, developing environmental management manuals, setting standards for evaluation of activities are needed for the stable settlement of on-site environmental management.