• Journal of Embryo Transfer
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• v.15 no.1
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• pp.77-83
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• 2000

The purpose of this study was to develop a breeding technique to increase Hanwoo of superior characteristics. In the present study, reproductive status of Hanwoo such as size of farm, breeding system and gestationi length was investigated. In addition, effect of low dose administration of prostaglandin F2$\alpha$(PGF2$\alpha$) on luteolysis was examined. The size of farm was classified by the total number of cows and the number of breeding stocks, respectively. The distribution of herd size of < 5, 6~10, 11~30, 31~50 and > heads was 31%, 15%, 39%, 4% and 11%, respectively. Furthermore, the distribution of breeding stock size of <5, 6~10, 11~30, 31~50 and > 50 heads was 36%, 28%, 31%, 3% and 3%, respectively. Average parity was 2.1 in breeding stock. In breeding pattern, artificial in semination(A.I), estrus synchronization-A.I and natural mating was 92.7%, 2.4% and 4.9% respectively. Gestational length of Hanwoo was ranged 253~316 days (average length : 285 days) after estrus( estrus=0). To induce luteolysis, PGF2$\alpha$ was injected into ovarian parenchyma by a modified ovarian injector. The effect of administration of 6mg PGF2$\alpha$ on luteolysis and estrus induction was betweer (P<0.01) when PGF2$\alpha$ was administered into ovarian parechyma than when administered intramuscluarly (71 vs. 91%). When PGF2$\alpha$ was injected into ovarian parenchyma, a decreased concentration to 3 mg did not significantly decreaed its luteolytic effect(92%). When AI was performed following PGF2$\alpha$ treatment, the intraovarian injection group yielded a higher pregnancy rate(69 vs. 88%) than the IM injection groups, regardless of the dosage. In conclusion these results suggest that increasing herd size and regular reproductive management are needed to improve reproductive efficiency in Hanwoo industry. Furthermore, intraovarian administration of PGF2$\alpha$ is effective way to induce luteolysis compared with intramuscular injection.

• Journal of the Korean Society of Marine Environment & Safety
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• v.23 no.1
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• pp.104-111
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• 2017

This research focuses on simulation and visualization of flow field characteristics inside a centrifugal pump. The 3D numerical analysis was carried out by using a numerical CFD tool, addressing a Reynolds Average Navier-Stock code with a standard k-${\varepsilon}$ two-equation turbulence model. The simulation accounts for friction head loss due to rough walls at suction, impeller, discharge areas and volumetric head loss at impeller wear ring. A comparison of performance curves between simulation and experimentation is included, and it reveals a same trend of those results with a small difference of maximum 5 %. At best efficiency point, velocity vectors are smooth but it changes significantly under off-design point, a strong recirculation appears at the outlet of impeller passages near tongue area. A relatively uniform preassure distribution was observed around the impeller in despite of the tongue. Within the volute, because of its geometry, spiral vortexes formed, proving that the flow field in this region was relatively turbulent and unsteady.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.12
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• pp.703-710
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• 2020

The stock market serves as a representation of economic well-being in a country. Along with the myriad of economic predictors, specific knowledge possession may lead to different macro consequences of stock performance and market value. This study empirically investigates the capacity of possessing excellent intellectual capital to increase the performance and values of listed banks in Indonesia. The selection of banks as the primary data represents such sectors' capability to attract, employ, or exploit the excellent internal capacity under the discussion of resource-based view theory. At best to the authors' knowledge, this topic's findings are still elusive and debatable upon considering the direct and indirect relationships between the proposed exogenous and endogenous variables. Eighteen listed banks form the panel data throughout 2011-2016. This study employs a path analysis and Sobel test to obtain the results of the proposed hypothesis. The results report some positive relationships of the intellectual capital to firms' performances and values, directly and indirectly, with a substantial effect on the second model compared to the first model. This study highlighted knowledge's capacity as a vital basis to gauge the banks' performance and valuation. However, a better formulation of intellectual capital is required to capture a better measurement.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.12
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• pp.433-444
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• 2020

The purpose of this study is to analyze integrated reporting disclosure and its implications on investor reactions. The population in this study is all manufacturing companies listed on the Indonesia stock exchange from 2017 to 2019, totaling 171 companies, and the sampling technique used is purposive sampling method. The method used in this research is a quantitative description using the financial statements of manufacturing companies listed on the Indonesia stock exchange. The data analysis method used is multiple regression analysis with intervening variables using AMOS 24 software. The results of this study show a positive and significant effect of profitability (X1) and company size (X2) on integrated reporting (IR); a positive and insignificant effect of stakeholder pressure (X3) on integrated reporting (IR); a positive and significant effect of profitability (X1) and stakeholder pressure (X3) on investor reactions (Y); a positive and insignificant effect of firm size (X2) and integrated reporting (IR) on investor reactions (Y). Suggestions are that in further studies, we can increase the sample size by including other industries, and in addition to using annual reporting, we can also use other sources such as websites, press releases, and prospectuses to improve the robustness of this study by relying on other data sources.

• The Journal of Asian Finance, Economics and Business
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• v.6 no.3
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• pp.91-101
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• 2019

This paper finds some stylized facts about executive pay in South Korea. Using aggregate data of the listed companies since 2002, we find that 1) the director's remuneration has risen faster than the employee compensation, thus, the pay ratio of executive and employee has escalated from 3.0 to 4.5; 2) the executive compensation for large business group fluctuates more widely than that for small and medium enterprises does, hence the pay ratio for large firms changes widely too; 3) the median pay ratio has not grown monotonically but it rather rises to remain still around year 2011, which is accounted for mostly by small and medium enterprises. New information on executive compensation by compulsory disclosure starting from 2013 made further analysis of CEO compensation attainable. Based on the conventional regression analysis for 2013-2017, we find that 1) the elasticity of CEO pay with respect to firm value is about 0.18; 2) the volatility of stock return is negatively related to CEO pay; 3) contemporaneous stock return is positively associated with the pay; 4) there is insufficient evidence that large business groups pay their CEOs more than small and medium enterprises do. These results are robust under various model specifications.

• The Journal of Asian Finance, Economics and Business
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• v.6 no.3
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• pp.151-162
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• 2019

The paper examines the effects of Foreign Direct Investment (FDI) on the economic growth of Lao People's Democratic Republic (Lao PDR) between 1993 and 2015. The investigation is based on the influence of growth and economic absorptive capability determinants such as human capital, trade openness, and institutional quality. The methodological analysis uses a multivariate framework accounting capital stock, labor stock, FDI, human capital, trade openness, and institutional quality in regression of the Vector Autoregressive model. Augmented Dickey-Fuller unit root test, Johansen Cointegration test, and Granger Causality test were applied as parts of the econometric time-series analysis approach. The empirical results demonstrate the positive effects of FDI and trade openness, and the negative effects of human capital and institutional quality on the economic growth of the Lao PDR over the 1993 to 2015 period. The findings confirm that trade openness complemented by a sufficient level of infrastructure, education, quality institutions, and transparency significantly influence economic growth and attract more FDI. Research results lend credence to the need for the Lao PDR's government to focus on improving its economic absorptive capability and economic competitiveness regionally and globally by improving wealth and resource management strategies, as failure to take this course of action could lead to the Dutch Disease effects.

• Journal of Korean Society of Rural Planning
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• v.19 no.2
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• pp.121-128
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• 2013

The greenhouse gas emission according to the energy consumption is the cause of global warming. With various climates, it is occurs the direct problems to ecosystem. The various studies are being to reduce the carbon dioxide, which accounts for more than 80% of the total greenhouse gas emissions. In this study, estimate the carbon usage using potential biomass extracted from forest type map according to land-use by satellite image, and estimate the amount of carbon dioxide, according to the energy consumption of urban area. The $CO_2$ adsorption is extracted by the amount of forest based on the direct absorption of tree, the other used investigated value. The $CO_2$ emission in Jecheon was 3,985,900 $TCO_2$ by energy consumption. At the land cover classification, the forest is analyzed as 624,085ha and the farmland is 148,700ha. The carbon dioxide absorption was estimated at 1,834,850 Tons from analyzed forest. In case of farmland, it was also estimated at 706,658 Tons.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.3
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• pp.115-125
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• 2020

This paper investigates the impact of working capital management on the firm's profitability. The research sample includes 119 non-financial listed companies on Vietnam stock market over a period of 9 years from 2010 to 2018. Two statistical approaches include Ordinary least squares (OLS) and fixed effects model (FEM) are employed to address econometric issues and to improve the accuracy of the regression coefficients. The empirical results show the negative and significant impacts of the working capital management, which measured by cash conversion cycle (CCC) and three components of the CCC including accounts receivable turnover in days (ARD), inventory turnover in days (INVD), and accounts payable turnover in days (APD) on the firm's profitability measured by return on assets (ROA) and Tobin's Q. It implies that firms can increase profitability by keeping the optimization of the working capital management measured by the CCC, which includes shortening the time to collect money from clients, accelerating inventory flow and hold the low payment time to creditors. Besides, the profitability of firms was impacted by the sale growth rate, firm size, leverage, and age. Therefore, this paper provides a new insight to managers on how to improve the firm's profitability with working capital management.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.3
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• pp.29-40
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• 2020

The research aims to explore the links among corporate governance, corporate social responsibility, and earnings management, considering vital roles of each component in Vietnam. There were 500 questionnaires provided to the targeted enterprises, where there were 150 enterprises in Ho Chi Minh Stock Exchange, 150 enterprises in Hanoi Stock Exchange, and 200 enterprises in the unlisted public company market. Of the distributed questionnaires, only 289 replies offered needed information for analyses. The data derived from these firms was based on their annual or sustainability statements that were retrieved from the websites. This research used a six-year rolling window to calculate earnings management. To compute that variable, lagged year information was included, so the data from 2011 to 2017 was needed to collect. The empirical results show that corporate governance mechanism is a significant moderation in the positive link between good corporate social responsibility and earnings management. Furthermore, corporate social responsibility and earnings management also play mediating roles in the associations among corporate governance, corporate social responsibility, and earnings management. This project recommends that corporate governance mechanism is an essential driver of the managerial behaviors in social responsibility and ethical accounting practices, which are in turn mediators in the joint research model.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.3
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• pp.73-85
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• 2020

The study aims to provide better understanding of sustainable earnings by a comprehensive analysis of earnings persistence of business firms in Vietnam as an example of developing economies in South-East Asia. Dataset of 1,278 publicly listed firms (excluding banking and financial services firms) on Vietnam Stock Exchange for the period from 2008 to 2017 was collected. By applying fixed effect regression model, the empirical results provided the basis to measure the persistence index (Pers index) and find low level of their earnings persistence. The literature of earnings quality analysis in developed countries suggests earnings persistence as a noteworthy determinant of future earnings forecast and stock valuation. However, research of sustainable earnings in developing countries is still highly underdeveloped. For Vietnamese listed firms, the average Pers index was estimated for the period from 2008 to 2010, indicating low level of earnings persistence. We also incorporated earnings persistence level into future earnings forecast by running the quintile regression model divided the data into four equal levels and conducted each section independently to see the difference in each percentile, thence assessed the factors' influence on the specific model. The findings provide important information on the expected returns of firms, especially helping investors make sound decisions.