• Title/Summary/Keyword: free-listing

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Is IPO More Efficient Than Back-door-listing? : Case of Korean Kosdaq Market (IPO가 우회상장보다 정보효율성이 더 높은가? : 코스닥시장을 중심으로)

  • Kang, Won
    • The Korean Journal of Financial Management
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    • v.27 no.1
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    • pp.121-156
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    • 2010
  • Back-door-listing can be viewed both as M&A and an alternative to IPO. If IPO is an access to the capital market through regulations, back-door-listing would be the way of entering the market through trading. Back-door-listing can be a better choice considering the common wisdom that regulations hinder the functioning of free market system. One would, however, prefer IPO, for the informational asymmetry isless severe in case of IPO. This paper examines if IPO is superior to back-door-listing as to the informational efficiency. The excess buy-and-hold returns of the Kosdaq back-door-listing firms are estimated over the three-year-period since the event. They are compared against the excess buy-and-hold returns of the Kosdaq IPO firms over the same period of time. The results confirm this paper's prediction that IPO should be more information-efficient. Both IPO and back-door-listing firms start with high short-term excess returns and end up with long-term under-performance. However, back-door-listing firms show more significantly damaging long-term results. Furthermore, back-door-listing firms record poorer accounting results over the research period. These results imply that there exists fad at the time of both events and, in case of back-door-listing, this fad is reinforced by the possibility of window dressing.

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The Inquiry of Students' Attitude towards Group Discussion and Presentation in a Course of Mathematics Education

  • Kim, Seong-A
    • Research in Mathematical Education
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    • v.18 no.4
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    • pp.307-319
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    • 2014
  • This research is a survey study on students' attitude toward a class employing small group discussion and presentation by the method of free-listing. Participants in this study were students who registered in the course of Mathematical Logics and Writing during 2011 and 2014. Senior students who took the course of theory of mathematics education previously usually registered the course. The class for this course used to be designed as a class adopting group discussion and presentation. Main theme of this research is not to demonstrate some theories or hypothesis on teaching and learning, but rather to inquire students' attitude toward a class employing the constituents first and then through analyzing the results of this study to find practical ideas and strategy for design and implementation of a class which brings cultivation of students' understanding, communication and moreover writing in mathematics. Since the survey was given in the $8^{th}$ week of this class, participants of this research could be expected to have more concrete idea for positive or negative aspects of the classes employing these constituents. We compared both research results of 2011 and 2014 to view any changes in students' attitude. Research results are follows. Students began to think that group discussions and presentation bring out better learning to them. Not to give students psychological burden of discussion and presentation, instructors need to provide comfortable atmosphere through arranging suitable grouping and enough time for discussion. Moreover, simple evaluations criteria for group discussions and presentation should be well structured and more concrete guides for them are required to make students to feel comfortable and to concentrate on the given subject for discussion.

Study on Characteristics of the Development Process of Fashion Design Thinking through the Lexicon (어휘를 통한 패션 디자인 발상 전개 과정의 특성 연구)

  • Kim, Yoon Kyoung
    • Journal of the Korean Society of Costume
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    • v.64 no.2
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    • pp.113-125
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    • 2014
  • Creative thinking requires an ability to draw ideas on the given topic in a given time period with concentration. For this, the development process of design concept on the topic was collected through experiments and interviews targeting 10 fashion education experts and 10 clothing majors. After the analysis, the results are as follows: First of all, divergent thinking was done to find as many ideas and possibilities as possible at the step of expanding the topic by analogy. This showed characteristics of spreading thoughts through the spread of lexicon to professional field knowledge of learned, individual's cultural background, other art fields. Second, abstracted and designed words that are expanded and listed by the topic analogy were specified the topic gradually through the free combination method between lexicons. The sentences made by the combination of lexicons were interpreted through the serial listing method, in which the connection between sentences had the meaning of orderly cause and effect form, and the parallel listing method that treated information at once. Third, the few characteristics of the procedure that visualizing into the specific design are as follows. Firstly, the method to transform image that lexicon has into the one appropriate to the topic, the case that reflects external characteristics of selected designed word, and the case which reflects as the extrinsic expression of personal immanent and tactic desires. This study has its means to propose methods and directions to help create more creative and systematic ideas by analyzing the characteristics that appeared during the process of thinking language-oriented design.

Effect of Complete Fasting on Body Fatness, Serum Leptin and Lipid Profile in Women (여성에서 절식이 체지방과 혈청의 Leptin 및 지질조성에 미치는 영향)

  • 이은옥;박현서;신현대
    • Journal of Nutrition and Health
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    • v.33 no.1
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    • pp.42-48
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    • 2000
  • The study was designed to observe the effect of complete listing for 10 days on body fatness, serum leptin level and lipid profile in thirty women who were admitted to fasting Clinical Program in Kyung-Hee Oriental Medical Center. Most of the subjects had food habits of over-eating and preferred oily foods which was correlated to the increase of body weight and BMI during realimentation. Average loss of body weight was 7.98kg and waist-hip ratio was significantly decreased during fasting. Body weight showed significant positive correlation with body fat(r=0.8182), lean body mass(r=0.7797) and total body water(r=0.7563). Body fat was gradually reduced after 9 days fasting, but lean body mass was not diminished any more after 7 days luring. Serum leptin level was significantly decreased after luring and re-feeding. The leptin showed significant positive correlation with body weight(r=0.9324), body mass index(r=0.8279) and body fat(r=0.8376). The levels of serum total cholesterol and LDL-C were significantly increased but HDL-C level was significantly decreased after fasting which increased could be harmful for persons with hypercholesterolemia. VLDL-C and triglyceride levels were not significantly decreased after fasting. Serum total free fatty acid level was significantly increased after fasting. These data suggest that the best way of maintaining the reduced body weight was to carry out the modification of food habits and behavior in daily lift. It could not be recommended to repeat often complete luting for reduction of body weight. (Korean J Nutrition 33(1) : 42-48, 2000)

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A Method to Deal with Free Riding in Team Project (팀 프로젝트 무임승차 방지 방안에 관한 연구)

  • Park, Jong-Hyuk
    • Journal of the Korea Society of Computer and Information
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    • v.18 no.2
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    • pp.141-147
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    • 2013
  • Teams are used often in the workplace and in educational institute. Despite the advantages of students teams, the two most common problems are social loafing and free riding. I suggest that 'You are fired' method can be used successfully in students team project, especially in our cultural mood. The 'You are fired' method is very simple to execute into business classes using team assignments. Students can fire team members who will not do the necessary work or will not attend meetings with a simple two-step processes. To fire a student of the team must send an e-mail listing specific work that he or she is not doing and/ or meetings he or she is not attending. And a copy of the e-mail must be sent to the faculty member. If the free-rider fails to accomplish the required work, then a second e-mail is sent notifying the student that he or she is fired along with a copy to the faculty member. Data from 257 undergraduate students are analyzed for usefulness of 'You are fired' method. Students are highly supportive of all components parts of the 'You are fired' method. They strongly support the effectiveness of this method to prevent free riding on performing team projects.

Development of a Modified Disability Questionnaire for Evaluating Disability Caused by Backache in India and Other Developing Countries

  • Aithala, Janardhana P.;Kumar, Suraj;Aithal, Shodhan;Kotian, Shashidhar M.
    • Asian Spine Journal
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    • v.12 no.6
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    • pp.1106-1116
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    • 2018
  • Study Design: Prospective observational study. Purpose: To evaluate the disability domains relevant to Indian patients with low backache and propose a modified disability questionnaire for such patients. Overview of Literature: The Oswestry Disability Index (ODI) is a self-reported measurement tool that measures both pain and functional status and is used for evaluating disability caused by lower backache. Although ODI remains a good tool for disability assessment, from the Indian perspective questions related to weight lifting and sexual activity of ODI are questioned in some of the earlier studies. Activities of daily living in Indian patients vary substantially from those in other populations and include activities like bending forwards, sitting in floor and squatting which are not represented in the ODI. Methods: In this prospective observational study, a seven-step approach was used for the development of a questionnaire. Thirty patients were interviewed to identify the most challenging issue they faced while performing their daily activities (by free listing) and understand how important the questionnaire items were in terms of the standard ODI. Thus, a comprehensive disability questionnaire comprising 14 questions was developed and administered to 88 patients. Both qualitative (interviews) and quantitative methods (to establish the validity, reliability, and correlation with the Visual Analog Scale [VAS] and Rolland Morris disability questionnaire) were used to identify the 10 questions that best addressed the disability domains relevant to Indian patients. Results: According to free listing, four new questions pertaining to bending forward, sitting on the floor, walking on uneven surfaces, and work-related disabilities were included. In the second phase, wherein the questionnaire with 14 items was used, 56.8% patients did not answer the questions related to sexual activity, whereas 23.8% did not answer those related to walking on uneven surfaces. The modified questionnaire demonstrated good internal consistency (Cronbach's alpha=0.892) and correlation with the Rolland Morris questionnaire (Cronbach's alpha=0.850, p>0.05), as well as with the VAS score for disability (Cronbach's alpha=0.712, p>0.05) and pain (Cronbach's alpha=0.625, p>0.05). Conclusions: A modified disability questionnaire that was designed by adding two questions related to bending forward and work status and removing questions related to sexual activity and weight lifting or traveling (depending on the occupation) can help evaluate disability caused by back pain in Indian population.

Perceptions and practices of commensality and solo-eating among Korean and Japanese university students: A cross-cultural analysis

  • Cho, Wookyoun;Takeda, Wakako;Oh, Yujin;Aiba, Naomi;Lee, Youngmee
    • Nutrition Research and Practice
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    • v.9 no.5
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    • pp.523-529
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    • 2015
  • BACKGROUND/OBJECTIVES: Commensality, eating together with others, is a major representation of human sociality. In recent time, environments around commensality have changed significantly due to rapid social changes, and the decline of commensality is perceived as a serious concern in many modern societies. This study employs a cross-cultural analysis of university students in two East Asian countries, and examines cross-cultural variations of perceptions and actual practices of commensality and solo-eating. SUBJECTS/METHODS: The analysis was drawn from a free-list survey and a self-administrative questionnaires of university students in urban Korea and Japan. The free-listing survey was conducted with a small cohort to explore common images and meanings of commensality and solo-eating. The self-administrative questionnaire was developed based on the result of the free-list survey, and conducted with a larger cohort to examine reasons and problems of practices and associated behaviors and food intake. RESULTS: We found that Korean subjects tended to show stronger associations between solo-eating and negative emotions while the Japanese subjects expressed mixed emotions towards the practice of solo-eating. In the questionnaire, more Korean students reported they prefer commensality and tend to eat more quantities when they eat commensally. In contrast, more Japanese reported that they do not have preference on commensality and there is no notable difference in food quantities when they eat commensally and alone. Compared to the general Korean cohort finding, more proportion of overweight and obese groups of Korean subjects reported that they tend to eat more when they are alone than normal and underweight groups. This difference was not found in the overweight Japanese subjects. CONCLUSION: Our study revealed cross-cultural variations of perceptions and practices of commensality and solo-eating in a non-western setting.

Review on the necessity of boarder quarantine to prevent introduction of salmonid alphavirus into Korea (연어 알파바이러스 감염증의 국경검역 필요성에 대한 고찰)

  • Yu, Jinha;Cho, Jaebum
    • Journal of fish pathology
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    • v.31 no.2
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    • pp.57-70
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    • 2018
  • Infection with salmonid alphavirus (SAV) is a serious disease that mainly affects rainbow trout (Oncorhynchus mykiss) and Atlantic salmon (Salmo salar L.) reared in seawater or freshwater. SAV is prevalent in European countries including Norway that exports rainbow trout and Atlantic salmon to Korea. Consequently, SAV was listed as a disease notifiable to the OIE and many salmonid-producing countries either designate SAV as their notifiable disease or do research on the development of diagnosis and epidemiology to reduce the possibility of SAV infection. Unlike other salmonid-producing countries, SAV is not listed as a notifiable disease in Korea, thereby arousing concern that SAV will get into the country through the importation of live salmonids. Under the circumstance, Korea needs to have a legal basis to take much stricter follow-up measures, including listing SAV as a notifiable disease, establishing surveillance system based on OIE standards to declare Korea free from SAV, killing infected fish and conducting fallow system against affected farms.

Drug Approval-Patent Linkage Systems in the US and Canada (미국과 캐나다의 의약품 허가-특허 연계제도)

  • Park, Sylvia
    • Journal of Pharmaceutical Investigation
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    • v.38 no.3
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    • pp.207-215
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    • 2008
  • Drug approval-patent linkage is the practice of linking drug marketing approval to the patent status of the originator's product and not allowing the grant of marketing approval to any third party prior to the expiration of the patent term unless by consent of the patent owner. Article 18.9.5 of Korea-US Free Trade Agreement requires that Korea introduce the linkage system in drug marketing approval. However, Korea is unfamiliar with the linkage system. In addition, there have been lots of arguments over the impacts of this system on Korean pharmaceutical industry and pharmaceutical market in the future. This report investigated the linkage systems of the US and Canada. The US and Canada have implemented drug approval-patent linkage system since 1984 and 1993, respectively. Both countries have patent lists for drug approvalpatent linkage on which originators are required to list patents on substance, product, and use of their drugs. Generic or follow-on drug applicants must contain a certification regarding each patent listed that relates to the referenced drug. If the patent holder files suit for patent infringement within 45 days of notice of application, drug approval is not allowed for several months - 30 months in the US and 24 months in Canada. Both countries have amended their systems after having experienced unexpected results such as listing improper and additional patents, multiple patent litigations and delayed generic entries. After reviewing the US and Canada's experiences, we suggested three principles needed in implementing the system: protecting patent holder's right; promoting generic drug development and marketing; monitoring the process and the effect of the system.

A Convergence Study for the Academic Systematization of Cartoon-animation (만화영상학의 학문적 체계화를 위한 융합적 연구)

  • Lim, Jae-Hwan
    • Cartoon and Animation Studies
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    • s.43
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    • pp.285-320
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    • 2016
  • Cartoons and Animation are convergent arts created with a composite application of language arts described in the form of literary texts and sounds, plastic arts visualized in the form of artistic paintings, and film arts produced in the form of moving pictures. An academic university major in cartoons and animation studies established in late 20th century however, did not satisfactorily meet the needs in academic research and development and the free expression of artistic creation was limited. In order to systematize the major in cartoons and animation studies, an convergent approach to establish and clarify following are in demand : the terms and definitions, the historical developments, the research areas and methods, the major education and related jobs and start-ups. New culture and arts industries including cartoons, animation, moving images, and games contents are not yet listed in the industries listing service jointly provided online by the portal site Naver.com and Hyung-Seol publishing company. Above all, cartoons and animation are inseparably related to each other that even if one uses the term separately and independently, the meaning may not be complete. So a new combined term "Animatoon" can be established for the major in cartoons and animation studies and also used for its degree with concentrations of cartoons, animation, moving images, games, and etc. In the Introduction, a new combined term Animatoon is defined and explained the use of this term as the name of the major and degree in cartoons and animation studies. In the body, first, the Historical Developments classified Animatoon in the ancient times, the medieval times, and the modern times and they are analyzed with the help of esthetics and arts using examples of mural frescos, animal painting, religion cartoons, caricatures, cartoons, satire cartoons, comics, animation, 2 or 3 dimensional webtoons, and K-toons. Second, the Research Areas of Animatoon reviewed the theories, genres, artworks, and artists and the Research Methods of Animatoon presented the curriculum that integrated the courses in humanities, science technologies, culture and arts, and etc. Third, the Major Education considered Animatoon education in children, young adults, students of the major and the Related Jobs and Start-Ups explored various jobs relating to personal creation of artwork and collective production of business-oriented artwork. In the Conclusion, the current challenges of Animatoon considered personalization of the artists, specialization of the contents, diversification of the types, and liberalization of the art creation. And the direction of improvement advocated Animatoon to be an academic field of study, to be an art, to be a culture, and to be an industry. The importance of cartoons and animation along with videos and games rose in the 21st century. In order for cartoons and animation to take a leading role, make efforts in studying Animatoon academically and also in developing Animatoon as good contents in the cultural industries.