• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.5 no.4
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• pp.1-34
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• 2010

Recently, failure rates of Kosdaq IPO firms are increasing and their survival rates tend to be very low, and when these firms do fail, often times backed by a number of governmental financial supports, they may inflict severe financial damage to investors, let alone economy as a whole. To ensure investors' confidence in Kosdaq and foster promising and healthy businesses, it is necessary to precisely assess their intrinsic values and survivability. This study investigates what contributed to the failure of IPO firms and analyzed how these elements are factored into corresponding firms' stock returns. Failure risks are assessed at the time of IPO. This paper considers factors reflecting IPO characteristics, a firm's underwriter prestige, auditor's quality, IPO offer price, firm's age, and IPO proceeds. The study further went on to examine how, if at all, these failure risks involved during IPO led to post-IPO stock prices. Sample firms used in this study include 98 Kosdaq firms that have failed and 569 healthy firms that are classified into the same business categories, and Logit models are used in estimate the probability of failure. Empirical results indicate that auditor's quality, IPO offer price, firm's age, and IPO proceeds shown significant relevance to failure risks at the time of IPO. Of other variables, firm's size and ROA, previously deemed significantly related to failure risks, in fact do not show significant relevance to those risks, whereas financial leverage does. This illustrates the efficacy of a model that appropriately reflects the attributes of IPO firms. Also, even though R&D expenditures were believed to be value relevant by previous studies, this study reveals that R&D is not a significant factor related to failure risks. In examing the relation between failure risks and stock prices, this study finds that failure risks are negatively related to 1 or 2 year size-adjusted abnormal returns after IPO. The results of this study may provide useful knowledge for government regulatory officials in contemplating pertinent policy and for credit analysts in their proper evaluation of a firm's credit standing.

• Progress in Medical Physics
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• v.23 no.3
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• pp.154-161
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• 2012

Digital Radiography (DR) has rapidly developed in megavoltage X-ray imaging (MVI). Thus, a very simple and general quality assurance (QA) method is required. The purpose of this study was to evaluate the modulation transfer function (MTF), the noise power spectrum (NPS) and the detective quantum efficiency (DQE) for MVI using general QA method and computed radiography (CR) device. We used tungsten edge block with $19{\times}10{\times}1cm^3$ thickness and 6MV energy. For detector, CR-IP (image plate), CR-IP-lead, the CR-IP-back (lanex TM fast back screen), CR-IP-front (lanex TM fast front screen) were used and pre-sampling MTF was calculated. The MTF of CR-IP-front showed the highest value with 1.10 lp/mm although the CR-IP showed the only 0.70 lp/mm. The best NPS was observed in CR-IP front screen. According to the increase in spatial frequency, our results showed that DQE was approximately 1.0 cycles/mm. The present study demonstrates that the QA method with our home-made edge block can be used to evaluate MTF, NPS and DQE for MVI.

• Horticultural Science & Technology
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• v.28 no.6
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• pp.980-984
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• 2010

Research regarding respiration rate, off-flavor related material and freshness maintenance effect of active MA mini-packaging on perilla leaves has been carried in this study. Respiration rate was highly maintained at high oxygen treatments ($CO_2:O_2:N_2$=0:30:70 and 0:50:50), higher than non-treatment and low oxygen treatments (6:2:92, 0:10:90) during the storage period, and ethylene production was relatively higher. However, off-flavor related materials, acetaldehyde and ethanol production was noticeably low. Weight losses of non-treatment and low-oxygen treatment were about 1.8 and 1.4%, respectively. At the fifth day of storage there was no weight loss. Ascorbic acid content was 13.3 mg/100 g F.W. at the first day of storage. At the third day of storage non-treatment showed the lowest value of ascorbic acid, 8.8 mg/100 g F.W. Ascorbic acid content of active MA treatment gradually decreased without a striking difference as the storage day extended. Chlorophyll content was the lowest at the fifth day of storage with non-treatment, 47.5 (SPAD-502 unit) while the active MA treatment maintained high level of chlorophyll content, 53.0. Sensory evaluation (vision) showed that marketability gradually decreased but was maintained in high oxygen treatments (0:30:70 and 0:50:50), even at the fifth day of storage. Occurrence of off-flavor in non-treatment at the fifth day of storage was extremely low, 2.6; whereas high in high oxygen treatment, 3.4. Active MA packaging maintained freshness two more days at room temperature (about $27^{\circ}C$).

• Journal of Korean Society of Environmental Engineers
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• v.39 no.5
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• pp.255-264
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• 2017

To evaluate the water quality changes in agricultural reservoir covered with floating photovoltaic solar-tracking systems, the water quality variations with time and depth were monitored on both six sites for light blocking zones and four sites for light penetration zones after the installation of floating photovoltaic solar-tracking systems in Geumgwang reservoir at Anseong-si, Kyeonggi province. For one year with 16 monitoring events, water quality parameters [i.e., water temperature, pH, dissolved oxygen (DO), chlorophyll-a (Chl-a), and blue-green algae (BGA)] were monitored at depths of 0.3 m, 1 m, 3 m, and 5 m, while chemical oxygen demand (COD), total nitrogen (TN), and total phosphorus (TP) were monitored at depths of 0.3 m. Statistically, the difference in all water quality parameters was not significantly different (p > 0.05) at the level of significance of 0.05. Based on these results, the water quality data from light blocking zones (site 1~6) and light penetration zones (site 7~10) were clustered, and were compared with time and depth. As a result, the difference in water temperature, pH, DO, COD, TN, TP, Chl-a, and BGA between light blocking zones and light penetration zones was not significant (p > 0.05) with different time and depth. For Chl-a and BGA, some data from light blocking zones greater than light penetration zones were temporary observed due to the severe drought, low water storage rate, and over growth of periphyton. However, this temporal phenomenon did not impact the water quality. Considering the small water surface area (${\leq}0.5%$) covered by floating photovoltaic solar-tracking systems, the mixing effect of whole Geumgwang reservoir caused by Ekman current and continuous discharge were more dominant than the effect of reduced solar irradiance. Further study is warranted to monitor the changes in water quality and aquatic ecosystems with greater water surface area covered by floating photovoltaic solar-tracking systems for a long time.

• Journal of Applied Biological Chemistry
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• v.60 no.1
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• pp.87-93
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• 2017

The objective of this study was to investigate the physicochemical characteristics and sensory evaluation of dacquoise made with sugar or sugar replacement (tagatose, erythritol). Sugar (S) was replaced with tagatose (T), and sugar powder was replaced with tagatose (TS), and erythritol (TE). S showed the highest sugar contents compared with TS and TE (p <0.05) but there were no significant differences with T. There were not significant differences in specific gravity and spread factor among the sweeteners. S and T tended to have higher loss factors than TS & TE. The more tagatose was increased, the more the redness value increased compared with S, and sucrose showed similar tendency for lightness (redness; TS > T > TE > S, lightness; S > T > TS > TE). TE showed good results for physical characteristics whereas T was better in the sensory test. The above results bear out that tagatose and erythritol both are suitable as alternative sweeteners for making dacquoise, but tagatose was better. Tagatose appeared to be a better replacement for sucrose in baking dacquoise, and dacquoise with 33% of the sugar replaced tagatose (T) could be suitable for use by diabetic and obese people. 95.1% tagatose (TS) maybe appropriate for diabetic patients. In conclusion, tagatose is a suitable sugar replacement for making dacquoise.

• Journal of Dairy Science and Biotechnology
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• v.27 no.2
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• pp.7-16
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• 2009

Appenzeller cheese samples were prepared by addition of 0.5, 1.0, and 2.0% green tea (Camellia sinensis, CS) powder and control cheese. We examined various quality characteristics of the novel cheese, such as viable-cell counts, pH, water-soluble nitrogen (WSN), non-casein nitrogen (NCN), non-protein nitrogen (NPN), and catechin level during maturation for 16 weeks at $14^{\circ}C$. To develop a Korean natural cheese containing green tea powder, we also analyzed the changes in the polyacrylamide gel electrophoresis pattern, chemical composition, and sensory qualities. The viable cell counts of the samples were not significantly different. Until the $3^{rd}$ week, the pH of the CS cheese decreased with an increase in the maturation time. However, the pH gradually increased by the $12^{th}$ week, while WSN, NCN, NPN also increased. The WSN, NCN, NPN, and catechin values for the CS cheese samples were significantly higher than the values for the control cheese. The polyacrylamide gel electrophoretic pattern of caseins for the CS cheese indicated that this cheese degraded more rapidly than the control cheese did. In the sensory evaluation, cheese with 1.0% CS powder showed the highest scores in taste and appearance and good scores in flavor and texture. These results indicate that 1.0% CS is the optimal value for addition to cheese, and cheese containing 1.0% CS shows good physiological properties and reasonably high overall sensory acceptability.

• The Journal of Engineering Geology
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• v.27 no.4
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• pp.405-416
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• 2017

This study evaluated a model unconfined aquifer comprising a sand or gravel layer, a filter layer, a pumping well, and an observation well. The model was employed in step drawdown tests and then used to assess the permeability of each test tank. The optimal yield and well efficiency were then calculated. Evaluation of yield by step in sand layer filters of equal thickness gave optimized watering rates of 22.03 L/min in the double filter and 19.71 L/min in the single filter. The double filter's yield was 115.0% that of the single filter. A comparison of double and single filters, each 10 cm thick, showed the double filter to have a maximum yield of 182.7%. Yields for the gravel layer were 73.56 L/min for a double filter and 65.47 L/min for a single filter of the same thickness; the former value is 112.3% of that of the latter. Comparison of double and single filters with 10-cm-thick gravel layers revealed that the double filter had a maximum yield of 160.9%. Results for sand wells showed the double filter to have a maximum efficiency of 70.4% and the single filter to have a minimum efficiency of 37.1%. Gravel-layer well efficiencies were >66.5% for both double and single filters (each 30 cm thick), but only 22.5% for a 10-cm-thick single filter. This study confirms that permeability improved as the filter material became thicker; it also shows that a double filter has a higher yield and well efficiency than a single filter. These results can be applied to the practical design of wells.

• The Journal of Korean Society for Radiation Therapy
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• v.28 no.2
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• pp.87-99
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• 2016

Purpose : This study will evaluate the clinical utility by applying clinical schematic that uses monoenergy or dual energy as according to the location of tumors to the stereotactic radiotherapy to compare the change in actual dose given to the real tumor and the dose that locates adjacent to the tumor. Materials and Methods : CT images from a total of 10 patients were obtained and the clinical planning were planned based on the volumetric modulated arc therapy on monoenergy and dual energy. To analyze the change factor in the tumor, Comformity Index(CI) and Homogeneity Index(HI) and maximum dose quantity were each calculated and comparing the dose distribution on normal tissues, $V_{10}$ and $V_5$, first ~ fourth ribs closest to the tumor ($1^{st}{\sim}4^{th}$ Rib), Spinal Cord, Esophagus and Trachea were selected. Also, in order to confirm the accuracy on which the planned dose distribution is really measured, the 2-dimensional ion chamber array was used to measure the dose distribution. Results : As of the tumor factor, CI and HI showed a number close to 1 when the two energies were used. As of the maximum dose, the front chest wall showed 2% and the dorsal tumor showed equivalent value. As of normal tissue, the front chest wall tumors were reduced by 4%, 5% when both energies were used in the adjacent rib and as of trachea, reduced by 11%, 17%. As of the dose in the lung, as of $V_{10}$, it reduced by 1.5%, $V_5$ by 1%. As of the rear chest wall, when both energies were used, the ribs adjacent to the tumors showed 6%, 1%, 4%, 12% reduction, and in the lung dose distribution, $V_{10}$ reduced by 3%, and $V_5$ reduced by 3.1%. The dose measurement in all energies were in accordance to the results of Gamma Index 3mm/3%. Conclusion : It is considered that rather than using monoenergy, utilizing double energy in the clinical setting can be more effectively applied to the superficial tumors.

• Korean Journal of Food Science and Technology
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• v.10 no.2
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• pp.173-180
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• 1978

The sensory test and analysis of the proximate composition and hydroxyproline content of 4 kinds of Korean commercial sausage products (Beef, Hamburger, Frank, Hotdog) were carried out and the results were compared one another. The qualities of these sausage products were compared one another. The qualities of these sausage products were compared on the basis of the nutritive value of foreign sausages and according to the Korea Food Law. The results obtained were as follows. 1. The general conclusion drawn from the results of the proximate analysis was that the average composition of commercial sausages was adequate in view of the limits set by the Food Law. 2. The evaluation factors of sausages based on moisture-to-protein and protein-to-fat ratios were proposed tocompare the qualities of Korean commercial sausages with those of foreign commercial sausages. 3. Content of collagen as connective tissues in total protein of Korean commercial sausages were $2.1{\sim}15%$. The results of the present study appeared to suggest that meat contents of Korean commercial sausages used in this study were less than those of foreign sausages. 4. Among the 4 different kinds of sausages studied the qualities of Frank sausages were the best whereas those of Hotdog sausages were of the lowest quality. Beef sausages appeared better than Hamburger sausages from the view point of nutritive components.

• Clinical and Experimental Pediatrics
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• v.48 no.8
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• pp.846-856
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• 2005

Purpose : To measure the peak myocardial tissue velocities and patterns of longitudinal motion of atrioventricular(AV) annuli and assess body weight and heart rates-related changes in normal children. Methods : Using pulsed wave Tissue Doppler Imaging(TDI), we measured peak systolic, early and late diastolic myocardial velocities in 72 normal children at six different sites in apical-4 chamber (A4C) view and at four different sites in apical-2 chamber(A2C) view and compared those values with each other, also observing effects with body weights and heart rates. Longitudinal motions of the AV annuli were measured at three different sites in A4C. Results : There were no significant differences of the TDI parameters between gender, ECHO-machines and among the three Doctors performing TDI. Peak myocardial velocities were significantly higher at the base of the heart than in the mid-ventricular region and in the right lateral ventricular wall than in the left lateral ventricular wall or IVS. The TDI parameters showed no significant correlation with fractional shortening(%). Peak systolic and early diastolic myocardial velocities had no correlation with heart rates, but peak late diastolic velocities and A/E ratio correlated positively with heart rates. Correlations between the TDI parameters and body weight were inconsistent. Absolute longitudinal displacement and % displacement were not differ between gender and not correlated with the TDI parameters. Conclusion : We measured the peak myocardial velocities with TDI and the longitudinal motion of the AV annuli using M-mode echocardiography in normal children. With more large scale evaluation, we may establish reference values in normal children and broaden clinical applicabilities in congenital and acquired heart diseases.