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A Study on the New Branding and Customer Integration of the M&A Process : Focused on the Brand Name and Membership System of Two Companies (인수합병 과정의 브랜드 및 고객 통합에 관한 연구 : 백화점의 브랜드 네임 및 회원 통합을 중심으로)

  • Kim, Gyu-Bae
    • Journal of Distribution Science
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    • v.10 no.6
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    • pp.27-37
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    • 2012
  • Many studies have focused on the importance of organizational integration when companies try to achieve growth through mergers and acquisitions (M&A). However, there has been little research that focuses on the new branding or customer base integration of the M&A process, despite the fact that this integration is very important for achieving M&A goals and business performance in industries such as retail. The purpose of this study is to provide an M&A case study of the retail industry, focused especially on the new branding and customer integration of two department stores. This study examined key integration processes in terms of brand name and membership systems of both companies by examining how the merged company achieved its new branding and the integration of its membership systems. The methodology of this research is the case study, which is used in both normative and empirical studies for distribution research in Korea. This research analyzes the case of both new branding and customer membership systems of the two companies. The new branding initiatives of this case centered on decision making including brand extension and brand naming. The customer membership integration of the two companies is analyzed on the basis of the customer reward programs that include both financial and service rewards. This study shows the success factors of new branding and customer integration in the M&A process in terms of achieving marketing goals and business performance as follows: First, companies should identify the integration areas by analyzing the brand and membership of both companies and make a balanced decision for both the customer and company. Second, the goals of new branding and membership integration in the M&A process should not emphasize business efficiency from a short-term perspective but rather should consider brand power and business synergy from a long-term perspective. Third, the post-merger integration process of the brand or customer areas requires not only the organized execution of integration tasks but also follow-up programs for changes in business strategy and marketing-related programs to realize the synergy effects of integrated organization. Although this study provides a detailed review and analysis of the new branding and customer integration processes in post-merger integration and in identifying the primary decision-making areas of these processes, there are some limitations requiring further research that may overcome or compensate for these limitations. The suggested future research areas are as follows: First, since this research is a case study of only one M&A, it makes few theoretical contributions such as new propositions or theories or possibilities for generalization. This limitation can be overcome through further research using multiple cases, which may lead to new propositions. Second, the methodology of this study lacks sufficient rigor in terms of its analytic approach because this case study was developed and analyzed descriptively. Further research is needed to compensate for these limitations, such as using a theory-based approach or comparative analysis approach that makes case analysis more systematic.

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Effects of dietary Chromic Oxide and Possible Use of the Animal By-product Mixture as a Dietary Fish meal Replacer (무지개송어 사료에 있어 산화크롬의 첨가효과와 축산 가공 부산혼합물의 어분대체 가능성)

  • JANG Hye-Kyung;OK Im-Ho;BAI Sungchul C.
    • Korean Journal of Fisheries and Aquatic Sciences
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    • v.32 no.4
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    • pp.470-475
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    • 1999
  • This study was conducted to evaluate the utilization of animal by-product mixture (ABPM) as a dietary animal protein source of fish meal replacer, and to determine the effect of dietary chromic oxide in growing rainbow trout, Oncorhynchus mykiss. ABPM is a mixture of five anmial by-products such as meat and bone meal (MBM) feather meal (FM), squid live, powder(SLP), poultry by-product (PBP) and blood- meal (BM) at a specific weight based ratio. Diet 1 and 2 were formulated on a isonitrogenous and a isocaloric basis of $46.5\%$ crude protein and 16.7 KJ/g diet; diet 1 (WFM 100), $100\%$ of the animal protein source came from white fish meal; diet 2 (ABPM 40), $60\%$ WFM+$40\%$ ABPM as the animal protein source; diet 3 (-Cr) commercial diet without chromic oxide; diet 4 (+Cr), commercial diet with chromic oxide. After eight weeks of feeding trials, fish fed diet 2 had a significantly lower body weight gain (WG) and feed efficiency (FE) than that of fish fed the other diets (P<0.05). When comparing diet 3 with diet 4, no significant differences were found in WG and FE (P>0.05). There were no significant differences on condition factor, hematocrit level, serum phosphorus, bone phosphorus, whole body phosphorus, and bone ash among fish from all four diet groups. Fish fed diet 4 had a significantly higher whole body lipid than that of fish fed the other diets (P<0.05), These results indicated that ABPM could be used less than $40\%$ in growing rainbow trout with a sufficient period of acclimation, In addition, the $0.5\%$ of chromic oxide can be used to determine the apparent digestibility of the nutrients in the feed without any adverse effects on growth and body composition.

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Sentiment analysis on movie review through building modified sentiment dictionary by movie genre (영역별 맞춤형 감성사전 구축을 통한 영화리뷰 감성분석)

  • Lee, Sang Hoon;Cui, Jing;Kim, Jong Woo
    • Journal of Intelligence and Information Systems
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    • v.22 no.2
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    • pp.97-113
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    • 2016
  • Due to the growth of internet data and the rapid development of internet technology, "big data" analysis is actively conducted to analyze enormous data for various purposes. Especially in recent years, a number of studies have been performed on the applications of text mining techniques in order to overcome the limitations of existing structured data analysis. Various studies on sentiment analysis, the part of text mining techniques, are actively studied to score opinions based on the distribution of polarity of words in documents. Usually, the sentiment analysis uses sentiment dictionary contains positivity and negativity of vocabularies. As a part of such studies, this study tries to construct sentiment dictionary which is customized to specific data domain. Using a common sentiment dictionary for sentiment analysis without considering data domain characteristic cannot reflect contextual expression only used in the specific data domain. So, we can expect using a modified sentiment dictionary customized to data domain can lead the improvement of sentiment analysis efficiency. Therefore, this study aims to suggest a way to construct customized dictionary to reflect characteristics of data domain. Especially, in this study, movie review data are divided by genre and construct genre-customized dictionaries. The performance of customized dictionary in sentiment analysis is compared with a common sentiment dictionary. In this study, IMDb data are chosen as the subject of analysis, and movie reviews are categorized by genre. Six genres in IMDb, 'action', 'animation', 'comedy', 'drama', 'horror', and 'sci-fi' are selected. Five highest ranking movies and five lowest ranking movies per genre are selected as training data set and two years' movie data from 2012 September 2012 to June 2014 are collected as test data set. Using SO-PMI (Semantic Orientation from Point-wise Mutual Information) technique, we build customized sentiment dictionary per genre and compare prediction accuracy on review rating. As a result of the analysis, the prediction using customized dictionaries improves prediction accuracy. The performance improvement is 2.82% in overall and is statistical significant. Especially, the customized dictionary on 'sci-fi' leads the highest accuracy improvement among six genres. Even though this study shows the usefulness of customized dictionaries in sentiment analysis, further studies are required to generalize the results. In this study, we only consider adjectives as additional terms in customized sentiment dictionary. Other part of text such as verb and adverb can be considered to improve sentiment analysis performance. Also, we need to apply customized sentiment dictionary to other domain such as product reviews.

Cytotoxicity and Antigenotoxic Effects of Cordyceps militaris Extracts (번데기동충하조(Cordyceps militaris) 추출물의 세포독성 및 유전독성 억제효과)

  • 김미남;최승필;이득식;함승시
    • Journal of the Korean Society of Food Science and Nutrition
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    • v.30 no.5
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    • pp.921-927
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    • 2001
  • This study was performed to investigated the effects on the cytotoxicity and antigenotoxicity of Cordyceps militaris extracts on the human cancer cell lines. The ethanol extract and five fractions which were hexane, chloroform, ethylacetate, butanol and aqueous were screened for crytotoxicity on human lung carcinoma(A549). human breast adenocarcinoma (MCF-7) human epitheloid carcinoma(HeLa), human fibrosarcoma(HT1080) human hepatocellular carcinoma(Hep3B), human gastric carcinoma(KATOIII) and chronic myelogenous leukemia(K562) cell by SRB and MTT assays. The results showed that growth inhibition rates of the human cancer cell in the presence of Cordyceps militaris were inhibited with increasing concentration of the extract. The ethanol extract from Cordyceps militaris had strong inhibitory effects in1 mg/mL treatment by SRB assay , showing 89.4%, 85.7%, 72.9% and 65.5% inhibition in HT1080, HeLa, Hep3B and A549, respectively. The treatment of 1 mg/mL hexane fraction by SRB assay had the strongest cytotoxicity with 97.0% on HT1080 followed by MCF-7(92.9%) and HeLA(90.3%). The inhibition ration on KATOIII by MTT assay was much higher in the butanol (83.7%) and aqueous (80.4%) than in the ethanol extract (61.5%) And also, K562 showed similar tendency with KATOIII. The effects of Cordyceps militaris extracts on the frequencies of micronucleated polychromatic erythrocytes (MNPCEs) induced by N-methyl-N-nitro-N-nitrosoguanidime(MNNG) were investigated in the bone-marrow cells of ICR male mice. The amount of 10, 20, 40 and 80 mg/kg of each extract were administered to animals immediately after injection of MNNG, and the exposure time was 36 hours. Significant reductions(p<0.05) with 39.7%, 52.7%, 71.4% and 83.9% were observed in the frequencies of MNPCE when 10, 20, 40 and 80 mg/kg of the hexane fraction of Coryceps militarus extracts were given to the mice.

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Quality of Stored Grape (Vitis labruscana) Treated with Ethylene-Absorbent and Activated Charcoal (에틸렌 흡착제와 활성탄 처리에 의한 저장 포도의 품질 특성)

  • Jang, Keum-Il;Lee, Je-Hong;Kim, Kwang-Yup;Jeong, Heon-Sang;Lee, Hee-Bong
    • Journal of the Korean Society of Food Science and Nutrition
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    • v.35 no.9
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    • pp.1237-1244
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    • 2006
  • In order to ensure a stable supply of grapes for consumers and to extend grape storage, we investigated changes in the quality of grapes (Vitis labruscana) stored after treatment with ethylene absorbent (EA) or activated charcoal (AC). We treated harvested 'Sheridan' and 'Muscat Bailey A' grapes with EA and with 0.1, 0.5, 1.0, and 2.0% (w/w) AC, and stored them at $0{\pm}1^{\circ}C$, $90{\pm}2%$ humidity for 60 days. After the EA or AC treatment, the storability of the 'Sheridan' and 'Muscat Bailey A' grapes was increased, as compared with non treatment, and 'Sheridan' kept better than 'Muscat Bailey A'. The quality of the stored grapes maintained with EA or the amount of AC, which decreased the rate of weight loss, abnormal fruit development, berry abscission, saccharinity, and growth of fungi. The free sugar and anthocyanin contents in the pericarp increased gradually in both 'Sheridan' and 'Muscat Bailey A', and increased more in 'Sheridan'. Conversely, the total acidity of 'Sheridan' and 'Muscat Bailey A' decreased with storage, and decreased less in 'Sheridan'. There were no differences in the free sugar content, anthocyanin content, and total acidity among treatments. The changes in grape quality with storage were delayed in the order of EA, 2% AC, 1% AC, 0.5% AC, and 0.1% AC. Ultimately, we postulate that EA and 2% AC best maintain the qualities of grape, and extend the grape storage period.

Productivity and Density Control of Stands of Japanese Larch (일본잎갈나무 임분(林分)의 생산력(生產力)과 밀도관리(密度管理)에 관(關)한 연구(硏究))

  • Ma, Sang Kyu
    • Journal of Korean Society of Forest Science
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    • v.34 no.1
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    • pp.21-30
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    • 1977
  • Japanese larch (Larix leptolepis) is one of main timber species in Korea that could find much plantation and growing stands on all over the country. It is thought to be in meaningful that a guiding diagram for density control of Japanese larch stands is made to estimate easily the density conditions in the quantitaive, ecological and economic viewpoint. Sample plots for this study are selected from the stands that have not been thinned in recent years, and mean height, mean diameter, dominant height, tree numbers per hectare and stem volume of mean tree are calculated from the each sample plots among total 165 plots In this study, especially, the theory of slenderness of mean tree are applied, that have been identified through the results of the spacing trial. Relative growth characteristics of this species are calculated from the general logistic curve and its formula is $Y=ax^b$. Relatwion between the measured items are found out as follows: 1. Relation between the mean height and tree numbers per hectare by slender class is showing the high correlation as table 1 and fig. 2, and between mean diameter and tree numbers per hectare is also high correlation as table 1 and fig 3. 2. The stem volume can be correctly estimated from height in case that slender class may be known, as showing in table 3 and fig. 4. 3. The stem volume can be more correctly estimated from the relation with $D^2H$ as formula, $Log_e\;V=0.9569\;Log_eD^2H-9.8431$, and relation between stem volume of single tree or volume per hectare and tree numbers per hectare are as following formulas: $Log_e$ stem volume=9.5026-1.6800 $Log_e$ tree numbers per hectare $Log_e$ stem volume per hectare=9.4911-0.6784 $Log_e$ tree numbers per hectare. Stem volume of mean tree, tree numbers per hectare and stem volume per hectare correspond to the mean tree height are calculated to slender class as table 5, 6, 7. Through the above steps, the diagram for density control of Japanese larch are produced as fig. 9. It is thought that this diagram could be applied to control the density of Japanese larch stands.

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Experiment for Comparing the Effect of Forest-use Solid Fertilizer and Chemical Fertilizers (산림고형비료(山林固型肥料)와 화학비료(化學肥料)의 비효비교시험(肥効比較試驗))

  • Chung, In Koo
    • Journal of Korean Society of Forest Science
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    • v.34 no.1
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    • pp.15-20
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    • 1977
  • This experiment was to investigate and analyse the effect of fertilizer at different level of treatment where the ordinary chemical fertilizers (Urea, TSP, muriate of potash) and the same amount of nutrients contained solid fertilizer respectively applied. 1. Ordinary chemical fertilizer known as quick releasing fertilizer showed its main effect in the first and second years but the effect was declined in the third year wheras slow releasing solid fertilizer showed no effect in the first year but gradually appeared in second year was reached at peak in the third year and effect continued till the forth year. 2. Both treatments, ordinary chemical fertilizer and solid fertilizer, showed fertilizer effect however ordinary chemical fertilizer treatment had 6.2 per cent of fertilizer loss over the solid fertilizer treatment. 3. Optimum fertilizer dose per tree seems to be 40-80 grams and fertilizer effect was continued for three years after the treatment. Fertilizer response in the first year only appeared on leaves with dark in color and its response on growth was observed in second year where ordinary chemical fertilizer applied and solid fertilizer treatment showed in third year. 4. For the above results, it may be desirable that optimum amount of ordinary chemical fertilizer should be applied once every other or every two years and solid fertilizer should be applied once every two years or every three years. 5. Solid fertilizer does not occure fertilizer damage when it was applied in excess and has labor saving advantage. 6. It is highly recommendable to produce solid fertilizer for the forest use in view of improving forest soil fertility and increasing forest resources in Korea.

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Effect of Ortet Age and Types of Cuttings on Rooting, Cyclophysis and Topophysis of Rooted Cuttings in Taxus cuspidata S. et Z (주목삽수(揷穗)의 모수령(母樹齡) 및 아조형태(芽條形態)가 발근(發根)과 묘형(苗型)에 미치는 영향(影響))

  • Goo, Gwan Hyo;Lee, Kang Young;Youn, Ki Sik;Kwon, Yeong Han
    • Journal of Korean Society of Forest Science
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    • v.79 no.4
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    • pp.359-366
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    • 1990
  • This study was carried out to investigate rooting rate, plagiotrophic growth and root-promoting effect of IBA in Taxus cuspidata S, et Z. cuttings. The results obtained were summarized as follows ; 1. As the ortet ages of cuttings were increased in 5, 10, to 20 years, the rooting rates were decreased in order of 85.7%, 81.7% and 62.4%, and the number of primary roots were also decreased in 5.3, 3.7 and 2.9, respectively. 2. Rooting rate by cutting types of lateral shoot were higher than those of main shoot type, significant at the 1% level. 3. IBA(l00ppm) treatment promoted the rooting rates and the number of primary roots. 4. As the ortet ages were increased in 5, 10 to 20 years, angles of central shoot of rooted cuttings which mesured cyclophysis were decreased in order of $75.9^{\circ}$, $68.5^{\circ}$ and $59.6^{\circ}$, respectively, significant at the 1% level. 5. Average angles showed $77.0^{\circ}$ for main shoot cutting, $65.9^{\circ}$ for upper lateral shoot and $61.7^{\circ}$ for lower lateral, which was significant at 1% level, and lateral shoot cutting showed more topophysis than main shoot cutting. 6. Shoot length of rooted cuttings from main shoot cutting was longer than that from lateral shoot significant at the 1% level. 7. Relationship between some characteristics showed highly positive correlation.

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The characteristics of selected trees of putative hybrid pines between Pinus thunbergii and Pinus densiflora (곰솔과 소나무의 자연잡종(自然雜種)으로 추정(推定)되는 잡종(雜種)소나무의 특성(特性))

  • Son, Doo Sik;Kwon, Chil Yong;Park, Sang Jun
    • Journal of Korean Society of Forest Science
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    • v.79 no.2
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    • pp.127-137
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    • 1990
  • This study was carried out to investigate some characteristics of selected trees recognized as natural hybrid between Pinus densiflora and Pinus thunbergii for improving resistance to pine leaf gall midge. The results obtained were as follows. l. In the mean annual increment and the growth in the period of latest 5 years of DBH, hybrid pines showed intermediate value of the parents, Pinus densiflora and Pinus thunbergii. However, there was remarkable variation among individuals of hybrid pine. 2. The trees having resin duct index(RDI) value larger than 0.1 for the position of resin duct in needle was classified as hybrid pine. The leaf and leaf sheath of Pinus thunbergii was longer than that of Pinus densiflora and the distance between rows of stomata on needles of Pinus thunbergii was longer than that of Pinus detasiflora, and the values of those observations on hybrid pine were intermediate between the parent species. However, differences among individual was observed. 3. In the size of cone and seed, and weight of 1000 seeds, like in the leaf characteristics, Pinus thunbergii showed higher value than Pinus densiflora and those values of hybrid were intermediate between the parent species. 4. Assuming isoenzyme ADH-$B_2$, ME-$A_2$, PGI-$B_1$, and PGI-$B_2$ alleles observed in the hybrids were introgressed from Pinus thunbergii, the hybrid pine can be easily identified by these isoenzyme alleles. However, the individuals which do not have those alleles can not be identified.

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Weight Reduction and Lipid Lowering Effects of Sea Tangle Added Korean Cabbage Kimchi (다시마 첨가 배추김치의 체중 감량 및 지질 저하 효과)

  • Ku, Hwa-Suk;Noh, Jeong-Sook;Yun, Ye-Rang;Kim, Hyun-Ju;Kwon, Myung-Ja;Cheigh, Hong-Sik;Song, Yeong-Ok
    • Journal of the Korean Society of Food Science and Nutrition
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    • v.36 no.9
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    • pp.1140-1147
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    • 2007
  • A recipe for diet kimchi containing 20% of sea tangle to Korean cabbage kimchi (SK) was developed for weight reduction purpose. The fermentation process of SK showed typical Lactobacillus sp. growth pattern like other kimchis. The effects of SK on weight reduction was studied in high fat diet (HFD) fed rats (n=40). Diet groups used for the animal study were HFD, HFD supplemented either with Korean cabbage kimchi used as experimental control (HCK), or with SK (HSK), or with J-kimchi (JK) which was purchased at market (FJK). The effect of kimchi on preventing obesity in rat fed HFD was found to be obvious by means of reducing visceral fat contents and improving serum lipid profiles through enhancing the lipid excretion in the feces (p<0.05). Leptin concentration of rat was significantly decreased by kimchi consumption (p<0.05). This result can be interpreted that adipocytes in these animals were fewer than that of HFD group. The plasma bililubin concentration was lower in kimchi group than HFD, meaning that returning bile from ileum to the liver was reduced. When the observe beneficial effects of kimchi on preventing obesity were compared among kimchi groups, SK only reduced the relative visceral fat contents significantly than other kimchi groups (p<0.05). Besides this, other parameters such as plasma lipid profiles, feces lipids, leptin, and bililubin concentration were not significantly different, even though the most beneficial effect on these parameters was observed from SK. In conclusion, long term consumption of SK seems to have a beneficial effect on the prevention of obesity through enhancing the excretion of lipids in the feces. The dietary fiber content of SK was increased by 7% compared to CK when 20% of sea tangle was added.