• Title/Summary/Keyword: nature of capital

Search Result 129, Processing Time 0.024 seconds

Empirical Study of Dynamic Corporate Governance: New Evidence from Chinese-listed SMEs

  • Shao, Lin;Yu, Xiaohong
    • The Journal of Industrial Distribution & Business
    • /
    • v.6 no.4
    • /
    • pp.27-37
    • /
    • 2015
  • Purpose - This study first explores the possible dynamic relationship between ownership structure and firm performance using a panel of 4,900 Chinese-listed small- and medium-sized enterprises (SMEs) from 1999 to 2012. Research design, data, and methodology - We address this issue through a dynamic panel model using a method of moments (GMM) technique and dynamic simultaneous equations to alleviate the potential endogenous problem: unobserved heterogeneity, simultaneity, and dynamic endogeneity. Results - Under the framework of dynamic endogeneity, firm performance has a significantly positive influence on ownership, but not vice versa. Ownership and performance can be explained by their owned lagged values, respectively. Moreover, intertemporal endogeneity exists among ownership, investment, and performance through the application of system dynamic equations, which implies that the relationship among ownership structure, investment, and firm performance is dynamic by nature. Conclusions - This study also significantly contributes to a better understanding of dynamic corporate governance by providing further empirical evidence from the largest capital market in the Asian region.

Changes in Construction and Characteristics during the Period of Foundation and Change of the Garden Pond Site in Guhwang-dong, Gyeongju (경주 구황동 원지(九黃洞 園池) 유적 창건 및 변화 시기의 조영과 성격 변화)

  • KIM, Hyungsuk
    • Korean Journal of Heritage: History & Science
    • /
    • v.55 no.3
    • /
    • pp.102-118
    • /
    • 2022
  • Gyeongju, the capital of Silla, is the very essence of the culture and technology of the thousand-year-reign of Silla. However, few studies have been conducted on the landscape sites of the capital of Silla other than Donggung Palace and Wolji Pond, due to the lack of related data. Therefore, this study examined the construction characteristics and nature of the garden pond in Guhwang-dong, whose complete appearance was identified through excavation following Donggung Palace and Wolji Pond. Since the excavation of the garden pond in Guhwang-dong, Gyeongju, there have been disagreements in academia as to whether it is a palace pond or a temple pond of Bunhwangsa Temple. Considering the unique characteristic of the garden pond that it is divided into two periods, it was interpreted that it would have functioned as a ritual facility related to Ryong (oriental dragon) belief in the 6th to 7th centuries, the first period, and as a garden pond with enhanced landscaping functions in the 8th to 9th centuries, the second period. In addition, it is highly probable that it was the site of Cheongyeongung Palace (青淵宮) and Jochujeong Pavilion (造秋亭) mentioned in the literature records. The "ㄹ"- shaped waterway, a characteristic facility of the first period, was found; however, considering its width and depth, it is insufficient to conclude that it was a simple drainage facility. Rather, it is more likely that it functioned as a passageway for the conceptual entry of Ryong during Ryong rituals. Furthermore, some have suggested that it may have been a ceremony-related Yusang-goksu (流觴曲水) facility. These facilities related to Ryong rituals were reorganized in the second period. Specifically, the nature of the garden pond was changed centered on the landscaping function in connection with the addition of a curved revetment, garden stone, and pavilion buildings, and the dismantlement of the "ㄹ"-shaped waterway and hexagonal building. As for nature, it can be regarded as a royal facility in terms of decorative elements including the ritual function of the first period and the gwimyeonwa (ghost face tiles) of the second period. Judging from the fact that the upper part of the embankment adjacent to the west side of the site was removed, it is very apparent that the main building was located on the upper part of the embankment. There would not have been a large-scale building site because it served the functions of ritual and recreation, rather than being the residence of the king.

The Dramatization of Habitus: A Bourdieun Reading of Pygmalion

  • Hwang, Hoon-Sung
    • Journal of English Language & Literature
    • /
    • v.55 no.3
    • /
    • pp.383-398
    • /
    • 2009
  • Based on the Greek myth of Pygmalion and the fairy tale of Cinderella, Shaw's Pygmalion demonstrates a masterful coalescence of these two narrative motifs into a coherent plot scheme. Even more significant is his keen insight into the conflicts created at the tripartite intersection of human activity concerning language/class/culture, which, as the leitmotif, revolves around lessons in language learning. This play basically deals with human transformation and by its very nature, Higgins's experimentation with transforming Eliza cannot stop at language alone. Her cultural transformation ripples over into the realms of gesture and even a unique way of living (modus vivendi) intimately associated with taste and manners, which Bourdieu terms as habitus. By acquiring a new fashion and language, Eliza is reborn as a new lady aspiring to be filled with a newly acquired habitus. While separating her from her old Cockney style, Higgins inculcates Queen's English in Eliza, in which process her changed speech styles gradually transforms and restructures her deportment and manners, finally generating new practices, perceptions and attitudes. The gist of Pygmalion is however less Eliza's ascent into the middle class than her battle for symbolic capital waged at the level of language. By problematizing his contemporary practice of habitus conventionalized and warped by class distinctions based on economic, social and cultural capitals, Shaw creates a new humanist model of man founded on spiritual and rational virtues. In conclusion, Eliza is not a frigid Galatea but a dynamic character that goes through a brilliant transformation of three stages: 1) linguistic; 2) cultural, and 3) humanist. Finally she is built into a "consort battleship" on an equal standing with her sculptor. The process of her character-building cannot be illuminated without resorting to the dynamic notion of habitus, which highlights the process of inculcation, structuring, generation and transposing. Given the overwhelming weight of the heroine's role and the dynamic process of her transformation as the major plot scheme, this play should be christened Galatea in lieu of Pygmalion.

A Study of the Construction Method for Soft Ground Reinforcement of Baekje Dynasty Based on the Low Swamp Remains in the Buyeo Area (백제시대 부여지역 저습지에 조성된 유적에서 나타나는 연약지반 개량공법 연구)

  • Cho, Weon-Chang
    • Journal of architectural history
    • /
    • v.19 no.6
    • /
    • pp.155-171
    • /
    • 2010
  • King Seong carried out the large-scale construction transferring the capital from Wungjin (Gongju) to Sabi (Buyeo) in 538. But because most of the Buyeo area was the low swamp in the time, it needed above all to form a site before transferring the capital. Until recently, in addition to the scientific excavation, the relief excavations for the construction of new building or the formation of road were conducted on many sites in the Buyeo area. As a result, many remains which were formed on the low swamp including the temple site of Neungsan-ri, Dongna Castle, the remains of Ssangbuk-ri (280-5 Bukpo, Hyeonnaedeul) and the remains of Gua-ri were identified. Also in these remains, the various engineering construction methods irrespective of the nature of remains were used for the purpose of the soft ground reinforcement as follows: mattress method of construction, pile designation, stone alignment, filing of decomposed granite soil, culverts and storage tanks. Especially, the mattress method of construction and the pile designation are thought to be the traditional engineering construction method at least in that they are appeared since the Three Han Sates era. And these soft ground construction methods had an effect on the construction of reservoir in Japan at the time. In the future, the construction method for soft ground reinforcement shall be concerned and studied further in the architecture and the civil engineering as well as the archeology.

An Evaluation for Regional Identity of Urban Parks and It's Utility -focused on the new towns in the Capital Region- (도시공원의 지역적 정체성 평가와 유용성 - 수도권 신도시를 중심으로 -)

  • 오정학;고동완;김유일
    • Journal of the Korean Institute of Landscape Architecture
    • /
    • v.27 no.1
    • /
    • pp.79-89
    • /
    • 1999
  • Recent expansion of urban parks has been partly successful in terms of providing urban outdoor recreation space. Unfortunately we paid very little attention to the importance of providing regional identity to urban parks until recently. Thus one of the most important tasks of the contemporary landscape architects of Korea is to investigate ways to improve regional identity of urban parks. This study is aimed at evaluating how well the current urban parks have realized their own regional identity. To test the effectiveness of the concept of 'identity', the identity items were created, while a research model was developed by using such variables as in urban park identity, park satisfaction, belongingness to the region, and residential satisfaction. In order to test the model, the causations were analyzed. Meanwhile, the scales to evaluating identity were reviewed by means of the unstructures group interview, and were finally determined as 10 items; culture, uniqueness, symbolic, historic nature, homogeneity, harmony, difference, public benefit, nativeness and traditionality. Data from three new towns in the capital region-Bundang, Ilsan and Sanbon-were collected, and their central parks were referred to a questionnaire survey. The data were processed using descriptive statistics, correlation analysis, multiple regression analysis and path analysis. It was found through this survey that subjects 'sentiments regarding the sample towns' regional identity differed slightly. Residents of Bundang felt the strongest amount of regional identity, followed by those of Ilsan and Sanbon. In addition, the most important scale on regional identity is 'park satisfaction', followed by 'belongingness to the region' and 'residental satisfaction'. The path analysis was conducted to interpret the causations in a more detailed and comprehensive way than correlation analysis. As a result, it was proven that the regional identity affects 'belingingness to region' through the intermediated variable 'park satisfaction', while affecting ' residential satisfaction' through the intermediate variables 'park satisfaction' and 'beligningness to region'. In other words, although the regional identity of a park does not directly affect 'belongingness to region' or 'residental satisfaction', it has indirect effects on them through intermediate variables.

  • PDF

Economic analysis of thorium extraction from monazite

  • Salehuddin, Ahmad Hayaton Jamely Mohd;Ismail, Aznan Fazli;Bahri, Che Nor Aniza Che Zainul;Aziman, Eli Syafiqah
    • Nuclear Engineering and Technology
    • /
    • v.51 no.2
    • /
    • pp.631-640
    • /
    • 2019
  • Thorium ($^{232}Th$) is four times more abundant than uranium in nature and has become a new important source of energy in the future. This is due to the ability of thorium to undergo the bombardment of neutron to produce uranium-233 ($^{233}U$). The aim of this study is to investigate the production cost of thorium oxide ($ThO_2$) resulted from the thorium extraction process. Four main parameters were studied which include raw material and chemical cost, total capital investment, direct cost and indirect cost. These parameters were justified to obtain the final production cost for the thorium extraction process. The result showed that the raw material costs were $63,126.00 - $104,120.77 (0.5 ton), $126,252.00 - $178,241.53 (1.0 ton), and $1,262,520.00 - $1,782,415.33 (10.0 tons). The total installed equipment and total cost investment were estimated to be approximately $11,542,984.10 and $13,274,431.715 respectively. Hence, the total costs for producing 1 kg $ThO_2$ were $6829.79 - $6911.78, $3540.95 - $3592.94, and $501.18 - $553.17 for 0.5, 1.0, and 10.0 tons respectively. The result concluded that with higher mass production, the cost of 1 kg $ThO_2$ would be reduced which in this scenario, the lowest production cost was $$501.18kg^{-1}$-$$553.17kg^{-1}$ for 10.0 tons of $ThO_2$ production.

The Change of Management Methods on Iksan and the rearrangement of Sabi by Baekje (백제의 익산 경영 방식의 전환과 사비(泗沘) 재정비)

  • KIM, Nakjung
    • Korean Journal of Heritage: History & Science
    • /
    • v.54 no.2
    • /
    • pp.170-193
    • /
    • 2021
  • In this article, I examine the transformation of the Iksan Royal Palace into a temple. And it was considered to mean a change in the way Iksan was managed by Baekje. The Iksan Royal Palace was converted into a temple between the establishment of Mireuksa Temple and Stone Pagoda. As a result, the transfer of the capital to Iksan was not achieved, and Iksan was transformed into a temple-centered city. In connection with this, the need to re-establishment the urban system in Sabi was increased, as it suffered a great flood in the Muwang era. As a result, the scope of the royal palace was expanded, the secondary palace was built, and the urban district was expanded throughout the capital city. It is presumed that King Mu gave a divine nature to Iksan and discriminated against Sabi. Accordingly, it is believed that the King Mu or King Uija stopped developing the city in Iksan and focused on the rearrangement of Sabi.

Characteristics of Pre-Elderly's Housing Mobility Living in Seoul and New Towns in the Capital Area (서울 및 근교신도시 예비노인층의 주거이동 특성)

  • Kwon, Oh-Jung
    • Korean Institute of Interior Design Journal
    • /
    • v.24 no.4
    • /
    • pp.99-110
    • /
    • 2015
  • The purpose of this study is to identify pre-elderly's housing mobility related characteristics (reasons for moving, change of personal life after move, housing attachment, and plan to future move) and to examine the associations between their socio-demographic characteristics and housing characteristics, and their housing mobility related characteristics. A total of 200 usable data were collected through personal survey using a questionnaire developed by the researcher. Samples were selected in Seoul and new towns in the capital area and a survey conducted from February, 2014 to December, 2014. For the analyses, descriptive statistics, factor analysis, t-test and ANOVA were used. The most frequently mentioned reasons for moving were 'a good place for nature and retirement life'. Age, education level, liiving expenses, locaion, tenure status, and housing size were the variables to show significant difference to reasons for moving. Respondents experienced positive personal life changes after moving, especially, 'physical health' and outgoing activity'. Respondents who moved to a new town was more positively changed. Personal life changes was the most important variable associated with 3 factors of housing attachment. Location, tenure status, housing size were the major variables to show differences to housing attaachment. Also, personal life changes after moving and housing attachment were the important variables affecting a plan to future move. In other words, the respondents who do not plan to future move showed higher positive life change and strong housing attachment.

A study of political ecology of Post-development - on critical discourses of Arturo Escobar (탈발전(Posdesarrollo)의 정치생태학 연구소고 - 아르뚜로 에스꼬바르의 비판이론을 중심으로)

  • Ahn, Tae-Hwan
    • Cross-Cultural Studies
    • /
    • v.22
    • /
    • pp.73-98
    • /
    • 2011
  • This study has as a object to investigate some various meanings of the discourses of postdevelopment of Arturo Escobar with the respect of the social movements of the indigenous and the afro-colombians in the area of the Pacific Coast of Colombia. The ideological lines of Escobar go around the group of critical discourse Modernity/(De)coloniality whose thesis lies on revealing the coloniality as principal elements of the modernity from the XVI century until now culminating in the neoliberal globalization. In another words, they try to seek for the alternative globalization based on the autonomy of the people who has been alienated for long time as 'others' by the eurocentrism of the power and the knowledge and on the equality of the cultural differences o the cosmovisions in Latin America. Escobar concentrates on the fact that the neoliberal regime would turn the nature into the environment considered as the resources for example the traditional knowledges of biodiversity of the indigenous as the capital of the pharmaceutical companies through the patents. However, the indigenous and the afro-colombians have fought fiercely to have them be maintained as a colective right of the possession not only to guard the economic interests but also their proper cultural traditions and the way of life based on the social solidarity of reciprocal care instead of the occidental individualism. This corresponds not only to the social relations but between the nature and the human society. And so, Arturo Escobar interprets these movements not only to defend the places but to express the cosmovisions of Postdevelopment further more the modern paradigm of nation-state.

Analysis of fashion narrative by communication platforms - Louis Vuitton as a case study - (커뮤니케이션 플랫폼에 따른 패션 내러티브 분석 - 루이비통을 중심으로 -)

  • Park, So Hyoung;Yim, Eunhyuk
    • The Research Journal of the Costume Culture
    • /
    • v.26 no.6
    • /
    • pp.994-1014
    • /
    • 2018
  • The objective of this study was to evaluate the characteristics of the fashion narrative from the commercial and artistic viewpoints by identifying and evaluating the attributes of the fashion narrative and analyzing the fashion narrative focusing on various cases according to fashion media. Louis Vuitton, a brand of the Louis Vuitton $Mo{\ddot{e}}t$ Hennessy (LVMH) group that operates the entire fashion community platform, is recognized as an influential luxury company with enormous capital and capabilities. This study targeted Louis Vuitton to examine the fashion narrative. The common results of Louis Vuitton's fashion narrative according to the communication platform are as follows. First, it emphasizes well-designed craftsmanship and artistry to convey the value and meaning of the brand. Second, it expresses the lifestyle of the bourgeoisie using traveling for finding life purpose, nature, and freedom as common denominators. Louis Vuitton connects, shares, and engages with customers by crossing the communication platform and trying multi-sensory changes based on the fashion narrative of the 'artification' message encompassing craftsmanship, innovation, and travel. The fashion narrative of Louis Vuitton applies tools (e.g., design, direction, stage, and props) differently according to the nature of media. In other words, the fashion narrative in the form of transmedia storytelling is a marketing communication strategy that indicates the representation means and direction of a brand's goals by remediating the brand narrative in various ways through the communication platform.