• Journal of Intelligence and Information Systems
• /
• v.22 no.4
• /
• pp.123-138
• /
• 2016

This study investigates intents of acquisitions in information technology industries. Mergers and acquisitions are a strategic decision at corporate-level and have been an important tool for a firm to grow. Plenty of firms in information technology industries have acquired startups to increase production efficiency, expand customer base, or improve quality over the last decades. For example, Google has made about 200 acquisitions since 2001, Cisco has acquired about 210 firms since 1993, Oracle has made about 125 acquisitions since 1994, and Microsoft has acquired about 200 firms since 1987. Although there have been many existing papers that theoretically study intents or motivations of acquisitions, there are limited papers that empirically investigate them mainly because it is challenging to measure and quantify intents of M&As. This study examines the intent of acquisitions by measuring specific intents for M&A transactions. Using our measures of acquisition intents, we compare the intents by four acquisition types: (1) the acquisition where a hardware firm acquires a hardware firm, (2) the acquisition where a hardware firm acquires a software/IT service firm, (3) the acquisition where a software/IT service firm acquires a hardware firm, and (4) the acquisition where a software /IT service firm acquires a software/IT service firm. We presume that there are difference in reasons why a hardware firm acquires another hardware firm, why a hardware firm acquires a software firm, why a software/IT service firm acquires a hardware firm, and why a software/IT service firm acquires another software/IT service firm. Using data of the M&As in US IT industries, we identified major intents of the M&As. The acquisition intents are identified based on the press release of M&A announcements and measured with four categories. First, an acquirer may have intents of cost saving in operations by sharing common resources between the acquirer and the target. The cost saving can accrue from economies of scope and scale. Second, an acquirer may have intents of product enhancement/development. Knowledge and skills transferred from the target may enable the acquirer to enhance the product quality or to expand product lines. Third, an acquirer may have intents of gain additional customer base to expand the market, to penetrate the market, or to enter a foreign market. Fourth, a firm may acquire a target with intents of expanding customer channels. By complementing existing channel to the customer, the firm can increase its revenue. Our results show that acquirers have had intents of cost saving more in acquisitions between hardware companies than in acquisitions between software companies. Hardware firms are more likely to acquire with intents of product enhancement or development than software firms. Overall, the intent of product enhancement/development is the most frequent intent in all of the four acquisition types, and the intent of customer base expansion is the second. We also analyze our data with the classification of production-side intents and customer-side intents, which is based on activities of the value chain of a firm. Intents of cost saving operations and those of product enhancement/development can be viewed as production-side intents and intents of customer base expansion and those of expanding customer channels can be viewed as customer-side intents. Our analysis shows that the ratio between the number of customer-side intents and that of production-side intents is higher in acquisitions where a software firm is an acquirer than in the acquisitions where a hardware firm is an acquirer. This study can contribute to IS literature. First, this study provides insights in understanding M&As in IT industries by answering for question of why an IT firm intends to another IT firm. Second, this study also provides distribution of acquisition intents for acquisition types.

• Journal of Korean Ophthalmic Optics Society
• /
• v.13 no.3
• /
• pp.65-71
• /
• 2008

Purpose: This paper studied the effect of eyes on the comparison between the distance optical centers problem of dispensing reading glasses made by optician and finished reading glasses in the current market. Methods: The method of this study has been measured by eleven different categories from +1.00D to +4.00D. This study also separated into three groups by their optical frame size and measured optical center point (O.C) and optical center height (O.H) with 200 peoples of man and females over 40 years old without ocular disease living in Gwang-san gu, Gwang-Ju city. Results: As a result, optical center point ranged from 57 mm to 80 mm and it turned to be most common range is from 61 mm to 65 mm (64.6%). Moreover, the optical center height ranged from 1 mm to 8mm and most common ranged (23%) were 4 mm. In other words, finished reading glasses have irregular optical ranges. After observing 200 people who are over 40 years old men and women, result shows that more than 75.5% (151 people) currently use finished reading glasses. Survey of 151 people, most common error between the finished reading glasses's O.C and the wearers P.D were 4 mm (45%). Furthermore, the most common error between the finished reading glassses's O.H and the wearers O.H ranged from 3 mm to 4 mm. Astonishingly, the entire 151 people who wear finished reading glasses appeal that they feel tiredness on their eyes when they wear finished reading glasses. 53 people (35%) claimed that they feel tiredness on their eyes after 10 to 20 minutes wearing finished reading glasses. Base on the research, We conducted more experiment to find the value of prism of optical centers err because it will tell us whether the finished reading glasses are good enough to wear or not. We multiplied diopter by the difference between finished reading glasses's O.C. and wearer's P.D. Consequently, We found out that the finished reading glasses counter to the German RAL-RG 915 policy. And We also found that it is relative to the diopter of lenses. In conclusion, based on the researched that wearing finished reading glasses have a dangerous factor for our vision. Therefore optician must need to recommend correctly made dispensing reading glasses based on the optical center point.

• Korean Journal of Heritage: History & Science
• /
• v.47 no.4
• /
• pp.136-161
• /
• 2014

This paper investigates the Buddhist sculpture and wall-painting enshrined in the halls of Bunhwangsa (Bunhwang temple) at Gyeongju in the mid-Silla period, which are thoroughly unknown to us except through textual records of Samgukyusa compiled by Priest Ilyeon in the late thirteenth century. According to Samgukyusa, a clay portrait-sculpture of Monk Wonhyo, made by his son Seolchong, was placed in Bunhwangsa. This image faced to the side, because he turned his body toward Seolchong when Seolchong bowed to this image. This story suggests that the portrait image of Wonhyo was most likely made after the Vimalakirti images, which were popular in China from the Six Dynasties period on, especially the Vimalakirti images of the early Tang period, turning his head and body toward Bodhisattva Manjusi seated opposite. The Vimalakirti image of Seokkuram might show the portrait image of Wonhyo. A wall-painting of a Thousand-Armed Avalokiresvara who has a thousand arms with a thousand eyes, called by the name 'Great Mercy with a Thousand Hands', was enshrined on the north wall of the left hall of Bunhwangsa. During King Gyeondeok's reign, Himyeong and her five-year-old blind child prayed before this image, and the blind child gained eyesight. While praying, they sang a song pleading for one of the thousand eyes which the Bodhisattva had in his hands. This song implies that Thousand-Armed Avalokiresvara had a thousand eyes, one painted on each hand. The fact that Thousand-Armed Avalokiresvara of Bunhwangsa was called 'Great Mercy with a Thousand Hands' indicates that this painting was based on the scripture Thousand-Armed Avalokiresvara Sutra translated by Bhagavaddharma in about 655, in the Tang period, which also has 'Great Mercy' in its title. In the year 755, a gilt bronze image of Medicine Buddha was made in Bunhwangsa, using nearly 61 tons of bronze to cast. The huge amount of bronze suggests it includes not only the Buddha statue but many other images such as two attendant Bodhisattvas of Suryaprabha and Candraprabha, Eight Great Bodhisattvas, or Twelve Guardians. Seven images of Medicine Buddha might have been made in accordance with the scriptural text of Seven Medicine Buddha Sutra translated by Monk Yijing. Textual evidence and recent excavation have revealed that seven images of Medicine Buddha and their whole attendant images based on Seven Medicine Buddha Sutra were made in the Nara period from 751 to 762 when Queen Gomyo contructed Sinyakusiji temple for the recovery of her husband Shomu. It is fair to assume that one or seven Medicine Buddhas and a whole group of his (their) attendant images were made for the main hall of Bunhwangsa temple in 755.

• The Korean Journal of Air & Space Law and Policy
• /
• v.33 no.2
• /
• pp.291-314
• /
• 2018

In recent 3 years, Korea's low-cost airlines have expanded their areas of passenger transportation not only to domestic market but also to Japan, China, Southeast Asia and US territory as a total of 6 companies (8 airlines including small air operation business carriers). Currently, three more airlines have filed for air transportation business certification as future low-cost carriers, and this expansion is expected to continue. To cope with the aggressive airline operations of domestic and foreign low-cost carriers and to enhance their competitiveness, each low-cost airline is taking a number of strategies for promoting cabin service. Therefore, the workload of the cabin crew is increased in proportion to the expansion, and the fatigue directly connected with the safety task performance is increased. It is stipulated in the Enforcement Regulations of the Korea Aviation Safety Act that at minimum, one cabin crew is required per 50 passenger seating capacity, and all low cost carriers are boarding only the minimum cabin crew. Sometimes it is impossible for them to sit in a floor level emergency exit for evacuation, which is the main task of the cabin crew, and this can cause confusion among evacuating passengers in the event of an emergency. In addition, if one of the minimum cabin crew becomes incapacitated due to an injury or the like, it will become a serious impediment in performing emergency evacuation duties. Even in the normal situation, since it will be violating the Act prescription on the minimum cabin crew complement, passengers will have to move to another available airline flights, encountering extreme inconvenience. Annex 6 to the Convention on International Civil Aviation specifies international standards for the determination of the minimum number of cabin crew shall be based only on the number of passenger seats or passengers on board for safe and expeditious emergency evacuation. Thereby in order to enhance the safety of the passengers and the crew on board, it is necessary to consider the cabin crew's fatigue that may occur in the various job characteristics (service, safety, security, first aid)and floor level emergency exit seating in calculating the minimum number of cabin crew. And it is also deemed necessary for the government's regulatory body to enhance the cabin safety for passengers and crew when determining the number of minimum cabin crew by reflecting the cabin crew's workload leading to their fatigue and unavailability to be seated in a floor level emergency exit on low cost carriers.

• Cross-Cultural Studies
• /
• v.40
• /
• pp.111-131
• /
• 2015

An unusual success engendering loyalty among cult fans in the United States, Mamoru Oshii's 1995 cyberpunk anime, Ghost in the Shell (GITS) revolves around a female cyborg assassin named Motoko Kusanagi, a.k.a. "the Major." When the news came out last year that Scarlett Johansson was offered 10 million dollars for the role of the Major in the live action remake of GITS, the frustrated fans accused DreamWorks of "whitewashing" the classic Japanimation and turning it into a PG-13 film. While it would be premature to judge a film yet to be released, it appears timely to revisit the core achievement of Oshii's film untranslatable into the Hollywood formula. That is, unlike ultimately heteronormative and humanist sci-fi films produced in Hollywood, such as the Matrix trilogy or Cloud Atlas, GITS defies a Hollywoodization by evoking much bafflement in relation to its queer, posthuman characters and settings. This essay homes in on Major Kusanagi's body in order to update prior criticism from the perspectives of posthumanism and queer theory. If the Major's voluptuous cyborg body has been read as a liberating or as a commodified feminine body, latest critical work of posthumanism and queer theory causes us to move beyond the moralistic binaries of human/non-human and male/female. This deconstruction of binaries leads to a radical rethinking of "reality" and "identity" in an image-saturated, hypermediated age. Viewed from this perspective, Major Kusanagi's body can be better understood less as a reflection of "real" women than as an embodiment of our anxieties on the loss of self and interiority in the SNS-dominated society. As is warned by many posthumanist and queer critics, queer and posthuman components are too often used to reinforce the human. I argue that the Major's hybrid body is neither a mere amalgam of human and machine nor a superficial postmodern blurring of boundaries. Rather, the compelling combination of individuality, animality, and technology embodied in the Major redefines the human as always, already posthuman. This ethical act of revision-its shifting focus from oppressive humanism to a queer coexistence-evinces the lasting power of GITS.

• Journal of the Korean Academy of Child and Adolescent Psychiatry
• /
• v.6 no.1
• /
• pp.56-64
• /
• 1995

Family is a primary unit of the major socialization processing for children. Parents among the family members are one of the most important figures from whom the child and adolescent acquire a wide variety of behavior patterns, attitudes, values and norms. An organization of family members product family structural functioning. Abnormal family structure is one of the most important reference models in the learning of antisocial patterns of behavior. Therefore incest and child sexual abuse including spouse abuse, elderly abuse, and neglect occurs in the abnormal family structural setting. In particular, incest, a specific form of sexual abuse, was once thought to be a phenomenon of great rarity, but our clinical experiences, especially over the past decade, have made us aware that incest and child sexual abuse is not rare case and on the increasing trend. Therefore, the aim of this study was to determine the family problem and dynamics of incest family, and character pattern of post-incest adolescent victim in Korea. A total of 1,838 adolescents from middle and high school(1,237) and juvenile correctional institute(601) were studied, sampled from Korean student population and adolescent delinquent population confined in juvenile correctional institutes, using proportional stratified random sampling method. The subjects' ages ranged from 12 to 21 years. Data were collected through questionnaire survey. Data analysis was done by IBM PC of Behavior Science Center at the Korea university, using SAS program. Statistical methods employed were Chi-square, principal component analysis and t-test etc. The results of this study were as follows ; 1) Of 1,071 subjects, 40(3.7%) reported incest experiences(sibling incest : 1.6% ; another type of incest : 2.1%) in their family setting. 2) The character pattern of post-incest adolescent victim was more socially maladjusted, immature, impulsive, rigid, anxious and dependent than non-incest adolescent. Also they showed some problem in academic performance and their assertiveness. 3) The other family members of incest family revealed more psychological and behavioral problem such as depression, alcoholism, psychotic disorder and criminal act than the non-incest family, even though there is no evidence of the context between them. 4) The family dynamics of incest family tended to be dysfunctional trend, as compared with non-incest family. It showed that the psychological instability of family member, parental rejection toward their children, coldness and indifference among family member and marital discordance between the parents had significant correlation with incest.

• The Korean Journal of Air & Space Law and Policy
• /
• v.32 no.2
• /
• pp.101-127
• /
• 2017

Even with the most advanced aviation technology benefits, aircraft accidents are constantly occurring while air passenger transportation volume is expected to double in the next 15 years. Since it is not possible to secure aviation safety only by the post aircraft accident safety action of accident investigations, it has been recognized and consensus has been formed that proactive and predictive prevention measures are necessary. In this sense, the aviation safety management system (SMS) was introduced in 2008 and has been carried out in earnest since 2011. SMS is a proactive and predictive aircraft accident preventive measure, which is a mechanism to eliminate the fundamental risk factors by approaching organizational factors beyond technological factors and human factors related to aviation safety. The methodology is to collect hazards in all the sites required for aircraft operations, to build a database, to analyze the risks, and through managing risks, to keep the risks acceptable or below. Therefore, the improper implementation of SMS indicates that the aircraft accident prevention is insufficient and it is to be directly connected with the aircraft accident. Reports of duty performance related hazards including their own errors are essential and most important in SMS. Under the policy of just culture for voluntary reporting, the guarantee of information providers' anonymity, non-punishment and non-blame should be basically secured, but to this end, under-reporting is stagnant due to lack of trust in their own organizations. It is necessary for the accountable executive(CEO) and senior management to take a leading role to foster the safety culture initiating from just culture with the safety consciousness, balancing between safety and profit for the organization. Though a Ministry of Land, Infrastructure and Transport's order, "Guidance on SMS Implementation" states the training required for the accountable executive(CEO) and senior management, it is not legally binding. Thus it is suggested that the SMS training completion certificates of accountable executive(CEO) and senior management be included in SMS approval application form that is legally required by "Korea Aviation Safety Program" in addition to other required documents such as a copy of SMS manual. Also, SMS related items are missing in the aircraft accident investigation, so that organizational factors in association with safety culture and risk management are not being investigated. This hinders from preventing future accidents, as the root cause cannot be identified. The Aircraft Accident Investigation Manuals issued by ICAO contain the SMS investigation wheres it is not included in the final report form of Annex 13 to the Convention on International Civil Aviation. In addition, the US National Transportation Safety Board(NTSB) that has been a substantial example of the aircraft accident investigation for the other accident investigation agencies worldwide does not appear to expand the scope of investigation activities further to SMS. For these reasons, it is believed that investigation agencies conducting their investigations under Annex 13 do not include SMS in the investigation items, and the aircraft accident investigators are hardly exposed to SMS investigation methods or techniques. In this respect, it is necessary to include the SMS investigation in the organization and management information of the final report format of Annex 13. In Korea as well, in the same manner, SMS item should be added to the final report format of the Operating Regulation of the Aircraft and Railway Accident Investigation Board. If such legal and institutional improvement methods are complemented, SMS will serve the purpose of aircraft accident prevention effectively and contribute to the improvement of aviation safety in the future.

• Journal of Intelligence and Information Systems
• /
• v.26 no.3
• /
• pp.51-69
• /
• 2020

Now, it is a stylized fact that a small number of technology firms such as Apple, Alphabet, Microsoft, Amazon, Facebook and a few others have become larger and dominant players in an industry. Coupled with the rise of these leading firms, we have also observed that a large number of young firms have become an acquisition target in their early IPO stages. This indeed results in a sharp decline in the number of new entries in public exchanges although a series of policy reforms have been promulgated to foster competition through an increase in new entries. Given the observed industry trend in recent decades, a number of studies have reported increased concentration in most developed countries. However, it is less understood as to what caused an increase in industry concentration. In this paper, we uncover the mechanisms by which industries have become concentrated over the last decades by tracing the changes in industry concentration associated with a firm's status change in its early IPO stages. To this end, we put emphasis on the case in which firms are acquired shortly after they went public. Especially, with the transition to digital-based economies, it is imperative for incumbent firms to adapt and keep pace with new ICT and related intelligent systems. For instance, after the acquisition of a young firm equipped with AI-based solutions, an incumbent firm may better respond to a change in customer taste and preference by integrating acquired AI solutions and analytics skills into multiple business processes. Accordingly, it is not unusual for young ICT firms become an attractive acquisition target. To examine the role of M&As involved with young firms in reshaping the level of industry concentration, we identify a firm's status in early post-IPO stages over the sample periods spanning from 1990 to 2016 as follows: i) being delisted, ii) being standalone firms and iii) being acquired. According to our analysis, firms that have conducted IPO since 2000s have been acquired by incumbent firms at a relatively quicker time than those that did IPO in previous generations. We also show a greater acquisition rate for IPO firms in the ICT sector compared with their counterparts in other sectors. Our results based on multinomial logit models suggest that a large number of IPO firms have been acquired in their early post-IPO lives despite their financial soundness. Specifically, we show that IPO firms are likely to be acquired rather than be delisted due to financial distress in early IPO stages when they are more profitable, more mature or less leveraged. For those IPO firms with venture capital backup have also become an acquisition target more frequently. As a larger number of firms are acquired shortly after their IPO, our results show increased concentration. While providing limited evidence on the impact of large incumbent firms in explaining the change in industry concentration, our results show that the large firms' effect on industry concentration are pronounced in the ICT sector. This result possibly captures the current trend that a few tech giants such as Alphabet, Apple and Facebook continue to increase their market share. In addition, compared with the acquisitions of non-ICT firms, the concentration impact of IPO firms in early stages becomes larger when ICT firms are acquired as a target. Our study makes new contributions. To our best knowledge, this is one of a few studies that link a firm's post-IPO status to associated changes in industry concentration. Although some studies have addressed concentration issues, their primary focus was on market power or proprietary software. Contrast to earlier studies, we are able to uncover the mechanism by which industries have become concentrated by placing emphasis on M&As involving young IPO firms. Interestingly, the concentration impact of IPO firm acquisitions are magnified when a large incumbent firms are involved as an acquirer. This leads us to infer the underlying reasons as to why industries have become more concentrated with a favor of large firms in recent decades. Overall, our study sheds new light on the literature by providing a plausible explanation as to why industries have become concentrated.

• MISULJARYO - National Museum of Korea Art Journal
• /
• v.100
• /
• pp.140-170
• /
• 2021

This paper investigates the Wooden Seated Tri-kaya Buddha Images(三身佛像) of Vairocana, Rushana, and Sakyamuni enshrined in Daeungjeon Hall of Hwaeomsa temple(華嚴寺) in Gurae, South Cheolla Province. They were produced in 1634 CE and placed in 1635 CE, about forty years after original images made in the Goryeo period were destroyed by the Japanese army during the war. The reconstruction of Hwaeomsa was conducted by Gakseong, one of the leading monks of Joseon Dynasty in the 17th century, who also conducted the reconstructions of many Buddhist temples after the war. In 2015, a prayer text (dated 1635) concerning the production of Hwaeomsa Tri-kaya Buddha images was found in the repository within Sakyamuni Buddha. It lists the names of participants, including royal family members (i.e., prince Yi Guang, the eighth son of King Seon-jo), and their relatives (i.e., Sin Ik-seong, son-in-law of King Seonjo), court ladies, monk-sculptors, and large numbers of monks and laymen Buddhists. A prayer text (dated 1634) listing the names of monk-sculptors written on the wooden panel inside the pedestal of Rushana Buddha was also found. A recent investigation into the repository within Rushana Buddha in 2020 CE has revealed a prayer text listing participants producing these images, similar to the former one from Sakyamuni Buddha, together with sacred relics of hoo-ryeong-tong copper bottle and a large quantity of Sutra books. These new materials opened a way to understand Hwaeomsa Trikaya images, including who made them and when they were made. The two above-mentioned prayer texts from the repository of Sakyamuni and Rushana Buddha statues, and the wooden panel inside the pedestal of Rushan Buddha tell us that eighteen monk-sculptors, including Eungwon, Cheongheon and Ingyun, who were well-known monk artisans of the 17th century, took part in the construction of these images. As a matter of fact, Cheongheon belonged to a different workshop from Eungwon and Ingyun, who were most likely teacher and disciple or senior and junior colleagues, which means that the production of Hwaeomsa Tri-kaya Buddha images was a collaboration between sculptors from two workshops. Eungwon and Ingyun seem to have belonged to the same community studying under the great Buddhist priest Seonsu, the teacher of Monk Gakseong who was in charge of the reconstruction of Haweonsa temple. Hwaeomsa Tri-kaya Buddha images show a big head, a squarish face with plump cheeks, narrow and drooping shoulders, and a short waist, which depict significant differences in body proportion to those of other Buddha statues of the first half of 17th century, which typically have wide shoulders and long waists. The body proportion shown in the Hwaeomsa images could be linked with images of late Goryeo and early Joseon period. Rushana Buddha, raising his two arms in a preaching hand gesture and wearing a crown and bracelets, shows unique iconography of the Bodhisattva form. This iconography of Rushana Buddha had appeared in a few Sutra paintings of Northern Song and Late Goryeo period of 13th and 14th century. BodhaSri-mudra of Vairocana Buddha, unlike the general type of BodhaSri-mudra that shows the right hand holding the left index finger, places his right hand upon the left hand in a fist. It is similar to that of Vairocana images of Northern and Southern Song, whose left hand is placed on the top of right hand in a fist. This type of mudra was most likely introduced during the Goryeo period. The dried lacquer Seated Vairocana image of Bulheosa Temple in Naju is datable to late Goryeo period, and exhibits similar forms of the mudra. Hwaeomsa Tri-kaya Buddha images also show new iconographic aspects, as well as traditional stylistic and iconographic features. The earth-touching (bhumisparsa) mudra of Sakymuni Buddha, putting his left thumb close to the middle finger, as if to make a preaching mudra, can be regarded as a new aspect that was influenced by the Sutra illustrations of the Ming dynasty, which were imported by the royal court of Joseon dynasty and most likely had an impact on Joseon Buddhist art from the 15th and 16th centuries. Stylistic and iconographical features of Hwaeomsa Tri-kaya Buddha images indicate that the traditional aspects of Goryeo period and new iconography of Joseon period are rendered together, side by side, in these sculptures. The coexistence of old and new aspects in one set of images could indicate that monk sculptors tried to find a new way to produce Hwaeomsa images based on the old traditional style of Goryeo period when the original Tri-kaya Buddha images were made, although some new iconography popular in Joseon period was also employed in the images. It is also probable that monk sculptors of Hwaeomsa Tri-kaya Buddha images intended to reconstruct these images following the original images of Goryeo period, which was recollected by surviving monks at Hwaeomsa, who had witnessed the original Tri-kaya Buddha images.