• Asian-Australasian Journal of Animal Sciences
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• v.22 no.8
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• pp.1140-1150
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• 2009

Forage diets provide good quality carcasses in sheep but very little is known in tropical goats. An experiment was designed with Creole male goats using grass-based systems to assess carcass yield, scores, cuts and composition. After weaning (84 d, 9.2 kg LW) two modes of forage feeding were compared with two replicates of each. Feeding groups were: PF for animals reared at pasture (n = 62) and IF when reared indoors (n = 60). Given that forage finishing will result in low ADG it appeared necessary to study different fattening lengths. The kids were equally divided into 4 groups: group A (n = 32), 4mo after weaning; group B (n = 32), 4mo after A; group C (n = 30), 3mo after B and group D (n = 28), 2mo after C. The animals grazed (in two sub-flocks) on irrigated tropical pastures managed in a rotational system (28 d of re-growth) at a mean stocking rate of 1,200 kg/ha/yr LW. The IF groups were reared in collective pens on a slatted floor (2 replicates of 7 or 8 kids each). They were fed the same stand of tropical grass (25% DM, 12% CP) as that of pasture that was cut daily and provided ad libitum. The ADG (-10%), the weights of omental fat (-60%) and fat in shoulder (-18%), the ultimate pH of carcass (-12%), the meat colour score (-24%), the ""parameter accounting for redness (12%) and the DM and lipid contents (-4%) were significantly lower (p<0.05) in PF than in IF, while the liver was heavier (+23%, p<0.05). Feeding conditions seemed to be similar, thus, differences could be related to gastrointestinal parasitism in the PF system and hypotheses are discussed. Increasing the fattening duration, resulted in significant difference (p<0.01) in many traits: the weights at slaughter and of carcass increased by 40% and 60% from groups A to D and consequently the weights of body compartments and carcass cuts (1.5 to 2.0 fold more). When the results were presented as percentage of empty body weight and carcass weight, these preliminary results (carcass weight 9kg and yield 53%, muscle proportion 70%) and qualitative parameters (low fat score 2/5, fat proportion 5%), seem to be a good incentive for the sector to develop a niche market to meet consumer lean meat expectations. The indoors system could be implemented where there was low availability of grazing areas or problems of dog attacks.

• Management & Information Systems Review
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• v.28 no.1
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• pp.71-97
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• 2009

In this study, I compare the ability of alternative accounting method for employee stock option to reflect firm value using the Ohlson's(1995) valuation model for 200 firms. The each methods, I compare are employee stock option expense recognition based on the K-GAAP disclosures, and asset recognition at the grant date based on the SFAS No. 123 Exposure Draft: Accounting for stock-based compensation. The model include: (1) a model that uses reported earnings, equity book value, and compensation expense based on the K-GAAP disclosures; (2) a model that uses pro-forma earnings, equity book value and adds a measure of the unrecognized asset arising form granting of employee stock options. Finding form estimating equations that the K-GAAP method for calculating compensation has no explanatory power, and the SFAS No.123 Draft Exposure method for arising asset and fair value compensation better captures than market's perception of the economic impact of stock options on firm values. However, the correlation of employee stock option compensation expense is positive. These results suggest that incentive benefits derived from employee stock option plans outweigh the cost associated with plan. In addition, I couldn't find evidence that company in KOSDAQ that have high growth potential benefit more from employee stock option plan compared to lager, more mature firm in SEC.

• The Korean Journal of Financial Management
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• v.26 no.4
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• pp.165-189
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• 2009

According to disclosure regulation, insider can hide their trading until disclosure day, because there be interval between trading time and disclosure time. To accommodate strategic trade, they have an incentive to be brought disclosure interval as long as possible. This research investigate whether strategical behaviour of informed traders using disclosure intervals exists in domestic stock market.ls xt, we aney he whether they can get abnormal return through stealth strategy after announcement date. We also evaluate the effect of mimicking trading on price impact with the assumption of existence of mimicking trading. Our major research results are as follows: In case of main shareholder without having no prompt disclosure duty, the frequency of trading started at the beginning of month is shown significantly higher than others. This result shows a direct evidence that informed traders buy or sell their equity strategically using disclosure intervals. Also, we find the result that the coefficient of strategic variables has highest value in middle size information. However, the empirical evidence that informed trader get abnormal return through strategic trading was not shown in this study. Meanwhile, stock price over-reacts for selling transaction on trading point and is recovered after disclosure date., so we assume possibility of mimicking trading exists in domestic stock market.

• Journal of Distribution Research
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• v.15 no.5
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• pp.127-153
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• 2010

This study explores the locomotives of the growth in the Korean online shopping industry upon the theoretical basis based on the last 10 years' rapid changing environment. This attempt reveals the counter-arguments against preemtive effects based on the observation of reintermediation process in the online industry. We reviewed the NEBIC model proposed by Wheeler(2002) and propose the growth model, double helix framework based on the dynamic capability view. Furthermore the relevance of the proposed framework was validated with the review of last 10 years' sales and market share data in the online shopping industry. Meanwhile we found the limits of online market growth with the open market domination. So future of the online shopping retailers is depending on the development of the channel functions and merchandising on the basis of self-capability. Based on the tentative conclusion, we also suggest implications for the policy makers. Firstly policy facilitating the specialization of the power sellers incubased in the open market is necessary for the sustainable online market growth. And the establishment of the control tower is suggested to coordinate the consistency of the policies and regulations. And the device of the incentive is also proposed to strengthen the open markets' function to facilitate the small and medium online merchants.

• The Korean Journal of Pharmacology
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• v.21 no.2
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• pp.90-98
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• 1985

1) In the study of the forced-swimming test in mice (FSM), the duration of immobility posture was dose-dependently shortened by ${\alpha}_2$-agonists, clonidine and guanabenz. BH-T 933 and oxymetazoline also decreased it . Xylazine rather increased the immobility duration at low dose. 2) ${\alpha}_1$-Agonists, cirazoline, amidephrine and methoxamine, however, showed inconsistent effect on the immobility duration (ID). 3) The decrease in ID by clonidine and guanabenz was antagonized by pretreatment with yohimbine, idazoxan and phentolamine (${\alpha}_2$antagonist), but not by prazosin and corynanthine (${\alpha}_1$-antagonist) .4) The ID in the FSM was shortened dose-dependently by d-amphetamine, and it was also antagonized by yohimbine, but not by prazosin. 5) In the mice pretreated with either ${\alpha}$-methyl-p-tyrosine or reserpine, or with combination of both, the decrease in ID was still evoked by clonidine. 6) When the mice were chronically treated with antidepressants (desipramine and imipramine), or with electroconvulsive shock, clonidine still decreased the ID as it did in the control. 7) These results provided the evidences to hypothesize that the change of the ID in the FSM is closely related with the postsynaptie ${\alpha}_2$-adrenoceptor located on the central noradrenergic neuron body. Furthermore, it is assumed that this escape-directed behavior enhanced by ${\alpha}_2$-adrenoceptor agonist may be the result in some analogy with the incentive of drives which are directed toward the self-preservation.

• Journal of the Economic Geographical Society of Korea
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• v.23 no.1
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• pp.71-81
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• 2020

Family companies are the unique industry-academic cooperation-related systems of Korean universities created by universities to promote various forms of industry-academic cooperation with companies. It is important to figure out the current status of family companies in order to understand the achievements of industrial-academic cooperation projects that have been actively pursued since the early 2000s. A lot of studies on industry-academic cooperation have focused mainly on the university's position. On the contrary, this study focuses on understanding the current status of the family company system and the status of industry-academic cooperation. Introduced in 2004, the Family Company System expanded rapidly as it was used as a performance indicator for college financial support projects related to industry-academic cooperation, with 174,425 companies registered as family companies as of 2017. A survey of family companies registered in universities carrying out the LINC+ project shows that companies registered in multiple universities are increasing, with relatively high demand and satisfaction for industry-academic cooperation among companies. Family companies were found to be relatively satisfied in terms of the use of R&D equipment or joint research, while they were relatively less satisfied in terms of workforce training and retraining. While companies have assessed product quality improvements through industry-academic cooperation, they have underestimated the effect of increasing sales and reducing production costs. Further, it was found that it was urgent to expand incentive systems and improve online information services to boost corporate participation in order to enhance the effectiveness of industry-academic cooperation.

• The Journal of Industrial Distribution & Business
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• v.10 no.11
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• pp.49-56
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• 2019

Purpose: Corporate social responsibility is a self-regulating business model that helps a firm be socially accountable to the public. By practicing corporate social responsibility, firms can be conscious of the kind of impact they are having on all aspects of society, including economic, social, and environmental. Corporate social responsibility activities are not directly linked to increasing corporate performance and corporate value, but rather involve spending expenses. Based on these facts, this study verifies whether the effects of corporate social responsibility activities differ depending on the firm's situation. Research design, data and methodology: This study analyzed the effect of market competition on corporate social responsibility activities using logistic regression analysis on listed companies in the KOSPI and KOSDAQ for fiscal years 2014 through 2016. In this study, market competition was measured using the Herfindahl-Herschman Index(HHI). Higher HHI value can be interpreted as a lower degree of market competition. We also measured corporate social responsibility activities using the KEJI Index published by the Korea Economic Justice Institute (KEJI). If a firm-year is included in the top 200 companies of the KEJI Index, it is classified as a good corporate social responsibility activity firm. Results: We find that companies in less competitive market were not included in the KEJI Index. This result indicates that firms in the market with lower market competition perform less corporate social responsibility activities that incur costs. An additional analysis showed that there was a significant negative relationship between the market competition and the corporate social responsibility activity scores published by the KEJI Index. These result adds robustness to the result of the hypothesis that firms that have a monopolistic place in the market practice passive corporate social responsibility activities. Conclusions: The results show that managers of a firm in the lower market competition have a lower incentive to use limited resources for projects that are not directly related to revenue. The results of this study imply that corporate social responsibility activities vary according to the position of the business. Therefore, this study suggests that market investors should consider the degree of competition in the market when they evaluate corporate social responsibility activities.

• Korea Journal of Hospital Management
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• v.12 no.3
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• pp.120-144
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• 2007

In 1997, in the course of overcoming economic crisis caused by the shortage of foreign currency there was a significant phenomenon, the irregularization of human labour resources. There was no exception in hospital, either. Most hospitals put a lot of thought to solve the problem about irregular workers. Between employee and employer the problem of irregular workers has been raised as a main topic of all. The objectives of this study were to inspect the actual state of irregular workers and to understand the positive effect of protecting irregular workers, recently established and revised, on the human resources management of hospitals. After enacting irregular labours protection acts there were many opinions that the labour rules of hospitals would be changed.(56.7%). The plan to solve irregular worker's wage issues would he carried out step by step, but some hospitals have not examined the plan yet,(81.9%). Many hospitals had a plan that irregular worker's wage would be actualized in two or three years.(78.3%) The method, to solve the problem of irregular workers arc as follows: 1) the introduction of functional wage system, 2) the convert from automatic rising wage system to annual wage system, 3) the incentive grade system according to management result, 4) lower functional group wage system, 5) non-term contract wage system. From the point of the opening medical market and securing competitive power of hospitals, it is prospected that irregular works would be increased also in future. So to manage irregular workers effectively would be essential in maintain hospital's competitive power and improve medical service. The result, of this study were a, follow: (1) In hospital, the ratio of irregular workers in hospitals was lower than that of all irregular workers in Korea. (2) In hospital, the wage level of irregular workers was higher than that of irregular workers in Korea. (3) In hospital, the social insurance application ratio of irregular workers was higher than that of all workers in Korea. (4) In hospital, there seems to be no appropriate and active measures to improve labour condition of irregular workers, yet. (5) In many hospitals, the policy of irregular workers would be expected to revised for the law standards. In this study the actual conditions and problems of irregular workers were proposed and it was expected to contribute decisions-making in hospital management, especially when using human resources.

• KDI Journal of Economic Policy
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• v.36 no.2
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• pp.175-196
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• 2014

This paper is a theoretical attempt to analyze and understand Yeonjulmang and Yeongyeolmang, which are terms for social networks with negative and positive connotation respectively in Korean Sociology. To do that, we analyze a social network where unilateral help are reciprocated. A social network in this context is a network where the past behaviors of its members are transmitted. With the information how the members behaved before, a social norm can emerge in the network, which facilitate the indirect reciprocation of unilateral help. In this norm, an agent's helping now will be rewarded by his being helped in the future. Since the reward happens in the future, this norm may not be sustained even if it is efficient. To sustain the reciprocation of the help, a norm can evolve to punish the violation of the norm more severely. If the punishment becomes too severe, the reciprocation of the help can be sustained even if it is not efficient any more in that the cost of help exceeds the benefit. If we allow the exit of the network, members have incentive to do it as belonging to the network is not beneficial any more. Then the social network may collapse. To avoid the collapse of the network, the exclusive norm, which exclude even mutually beneficial relationship with outsiders, may emerge. This can explain the emergence of Yeonjulmang, or a closed network, which is inefficient in double senses; 1) it may sustain inefficient reciprocation of help, and 2) the mutually beneficial relationship is excluded between an insider and an outsider of the network.

• Journal of Technology Innovation
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• v.27 no.1
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• pp.1-43
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• 2019

The significance of SMEs (small and medium-sized enterprises) is gradually highlighted as we have entered the age of "New Normal." The South Korean government support these enterprises to boost economic growth and create more jobs. It also releases numerous policies such as national R&D projects and expanding tax incentive services particularly aiming at promoting dramatic investment in R&D and technological innovation. There is a sharp contrast regarding the efficiency of direct or indirect supports for encouraging R&D investment launched by SMEs depending on researchers. However, there has been little attempt to explore the optimal combination of two policy tools. Amid promoting affiliated governmental departments in charge of SMEs policies and constantly growing R&D investment, it is an appropriate time to discuss the medium and long-term direction for the optimal policy mix of direct and indirect supports. In this study, the author obtained 32 relevant studies published earlier in the domestic journals, explored literatures more systematically, and further conducted a meta-analysis. It is dedicated to summarizing relevant controversies and organizes them empirically beyond merely verifying whether policy support stimulates private R&D investment by SMEs. The meta-analysis showed that it would be effective to support as tax for large enterprises, while subsidiary support for SMEs. However, indirect support needs to be progressively increased as direct support primarily accounts for the entire R&D support for South Korean SMEs.