• Title/Summary/Keyword: period of slow growth

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Long Term Impact of Distribution Information Technology Investment on Firm Value (무선인식 유통정보기술 투자가 장기 주가수익률에 미치는 영향에 관한 연구)

  • Son, Sam-Ho
    • Journal of Distribution Science
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    • v.17 no.3
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    • pp.69-83
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    • 2019
  • Purpose - This paper investigates the long term impact of RFID investment on firm value in Korea. We wand to find out why the long term performance of some firm's RFID investment is better than others. To understand the dynamics of the long term returns from RFID investment announcements, we divide our events into groups for each of the independent firm characteristic variable such as investment time period, kind of markets, industries, solvency and growth potential. We composed portfolios based on the RFID investment announcement date for each group and evaluate the monthly abnormal excess returns. Research design, data, and methodology - Based on these calendar-time portfolios, we measure the long term returns from 86 RFID investment announcements of 46 firms from 2003 to 2017. We construct the calendar-time portfolio for 3, 6, 9, 12 months of holding periods. Using the weighted least squares method, we regress the raw monthly returns of the portfolios on the Fama-French model and Carhart(1997) model. As a result, we can get the estimated risk adjusted mean monthly abnormal excess return αP for each of the calendar-time portfolio. Results - We found that early adopters, large firms, non-manufacturing firms have very significant excess returns. We also found modestly significant excess returns for financially stable firms and slow growing firms. Put together, top managers of the firms which plan to invest RFID should understand the strategic role of RFID adoption and the generalized business process of distribution information technology investment in Korea. Moreover, the findings of this paper provide useful trading strategies to the managers of large funds who are considering on investing in RFID adopting firms. Conclusions - Put together, the results of this paper give us a new insight into how the RFID and IT technology in general and other characteristic factors' interactions affect the long term performance of firms. Using the unbiased estimates of long term returns of the calendar-time portfolios, this paper extends the understandings on short term impact of RFID adoption of existing studies. This paper also extends the current understandings of firm characteristics that affect the long term performance of RFID adopting firms.

Surgery and Prognostic Consideration in Differentiated Thyroid Cancer(DTC) (분화 갑상선암의 수술 및 예후에 대한 고찰)

  • Byun, Kyung-Do;Ha, Tae-Kwun;Ryu, Sung-Mock;Kim, Tae-Hyun;Kim, Sang-Hyo
    • Korean Journal of Head & Neck Oncology
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    • v.25 no.2
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    • pp.132-137
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    • 2009
  • Purpose : For the past 10 years, the incidence of thyroid cancer has been rapidly increased in female population showing current incidence of 12,000 new thyroid cancer patients annually in Korea. Though differentiated thyroid cancer is known to show favorable prognosis and excellent long-term survival from slow growth and late distant metastasis, we re-evaluated prognostic factors of recurrence and mortality following surgical procedures based on our cases. Material and Methods : 954 Patients of DTC surgically treated at Department of Surgery, Inje University Busan Paik Hospital between 1980 and 2004 were reviewed in the aspects of the surgical procedures, clinical staging, risk factors, recurrence and their outcome through median follow-up period of 10.5 years. Results : Recurrence in remnant thyroid, cervical nodes, and distant metastasis were observed in 84 paients(8.8%), and 31 patients were confirmed to be died of locoregional recurrence of cancer and distant metasasis. Regarding the risk factors to recurrence, tumor size, extrathyroidal extension, nodal metastasis, and capsular invasion were significant predictors(p<0.05). Local recurrence and distant metastasis had no statistical signiicance according to age, sex, pathology, surgery, and lymphovascular invasion. Overall 10-year survival rate was 92.4%, but low, intermediate, and high-risk patient showed 100%, 94.4%, and 70.5% respectively. Conclusion : The significant factors influencing local recurrence and distant metastasis were tumor size, extrathyroidal exension, LN metastasis, capsular invasion. In order to improve survival rate of high-risk group, appropriate and aggressive management should be recommended.

Community characteristics of early biofilms formed on water distribution pipe materials (수도관 재질에 형성된 초기 생물막 형성 미생물의 군집 특성)

  • Kim, Yeong-Kwan;Park, Sung-Gu;Lee, Dong-Hun;Choi, Sung-Chan
    • Journal of Korean Society of Water and Wastewater
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    • v.26 no.6
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    • pp.767-777
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    • 2012
  • Annular Biofilm Reactor (ABR) equipped with coupons of three different pipe materials (STS 304, PVC, PE) was used to generate drinking water biofilm samples. The level of assimilable organic carbon (AOC) during the sample generation period was $37.3{\mu}g/L$, and this level did not seem to be low enough to limit the formation of biofilm in this study. Terminal-restriction fragment length polymorphism (T-RFLP) analyses determined T-RF profile as early as 3 h of exposure on PVC coupons. Average surface roughness ($R_a$) measured by atomic force microscopic analyses was 125.7 nm for PVC, and this value was higher than for STS (71.6 nm) and PE (74.0 nm). However, biofilm formation was faster on STS (6 h) than on PE (12 h), which indicated that surface roughness might not be the only factor that controlled the initiation of biofilm development. Upon detection of the T-RF peaks, richness (S) and diversity indices such as Shannon (H) and Simpson (1/D) demonstrated a rather slow increase until 48 h followed by rapid increase regardless of the pipe materials. Differences of microbial community structures among the biofilm samples were determined based on the cluster analysis using Jaccard coefficients (Sj). Biofilm communities could be divided into two distinct groups according to the exposure time regardless of the pipe materials. First group contained a young (< 48 h) biofilm samples (10 out of 11) but second group contained a mature (${\geq}$ 48 h) samples (11 out of 14). Results suggested that, due to the complexity of biofilm, the targeting of the first group of cluster was crucial for optimizing the management of drinking water distribution systems and controlling microbial growth.

Production of a Fibrinolytic Enzyme in Bioreactor Culture by Bacillus subtilis BK-17

  • Lee, Jin-Wook;Park, Sung-Yurb;Choi, Won-A;Lee, Kyung-Hee;Jeong, Yong-Kee;Kong, In-Soo;Park, Sung-Hoon
    • Journal of Microbiology and Biotechnology
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    • v.9 no.4
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    • pp.443-449
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    • 1999
  • Bacillus subtilis BK-17 which produces a novel protease with fibrinolytic activity was isolated from soybean paste. Bioreactor production of the enzyme was studied in order to optimize fermentation conditions such as medium concentration, pH, agitation speed, and temperature. Under most cultural conditions, enzyme production initially began when the cell growth stopped. The onset of the enzyme production was indicated by rapid increase in both dissolved oxygen (DO) and pH. Two- to three-times more concentrated medium than the flask optimum medium yielded higher enzyme production in the bioreactor fermentation. When the medium pH was controlled constant, pH 6.5 exhibited the highest activity in the range of 6.0 to 7.5, but the activity was similar to the case when the pH was initially adjusted to 7.5 and subsequently maintained within a relatively wide range of 6.4 to 7.8. Agitation speed did not affect the enzyme production with an exception of DO reaching zero. Fermentation time was reduced when temperature increased within the range of $25^{\circ}C$ to$37^{\circ}C$. However, the highest activity, along with the slow decrease of the enzymatic activity after reaching the maximum value, was observed at $25^{\circ}C$. By shifting the temperature from $37^{\circ}C$ to $25^{\circ}C$immediately after DO reached the minimum level, the high enzyme production of 1,100 U/ml along with the short fermentation period of 13 h could be obtained.

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Adolescent' Internet Utilization Status of Dietary Information in Kyungnam (경남일부 청소년의 인터넷 식생활 정보이용에 관한 연구)

  • 이경혜;강현진;허은실
    • Journal of Nutrition and Health
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    • v.35 no.1
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    • pp.115-123
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    • 2002
  • This study was carried out to investigate the utilization status of internet dietary information by gender(boys: 363, girls: 366) in adolescent(middle & high school students). The results were summarized as follows. The internet using frequency of 6-7times per week had 45.0% of subjects and the using time of internet per a time was shown mainly'<2hours(68.5%)'. The main place for internet use was home(79.0%) and favorite search engine was 'Yahoo'(45.7%) and 'Daum'(19.3%). As main purpose using internet were mentioned 'social intercourse'(45.0%) and data search'(24.8%). The organization that offer to reliable internet information was educational institution'(49.4%). The problems in using information site were 'poor information'(26.4%), 'slow connection speed'(22.6%), and 'don't arouse interest'(18.8%). The search experience about dietary information had only 27.9% of subjects and search purpose was 'for homework'(33.3%) and 'for health'(32.0). The satisfaction degree of dietary information was not high. The connection motive to dietary information was mainly 'by site navigation casualty'(55.7%). Only 7.7% of subjects had experience of nutrition counseling using internet, and the motive of nutrition counseling was also 'by site navigation causally'(55.8%). The purpose of counseling was 'for diet'(41.5%) and 'for health problem'(30.2%), and the satisfaction degree of counseling result was very low. As the ask of improvement for counseling site were pointed out 'poor in answer content'(44.8%) and 'lazy answer'(31.0%). The subjects wanted to get the dietary information about 'growth in status'(41.4%), 'diet related skin beauty'(14.6%), the update period less 1 month, and the way of 'free board'(32.3%), 'game'(21.1%) and 'animation'(19.3%) as offer tool. The results of this study showed that although the internet using percent and frequency of subjects was high, they used dietary information very seldom and they are dissatisfied with internet nutritional information. Therefore, the information donor should consider which dietary information was needed and what is the optimal tool for adolescent.

Effect of Starvation on Some Nutritional Parameters in Rhynchocypris oxycephalus 1. Characteristics of the histological and biochemical changes (기아시 버들치 Rhynchocypris oxycephalus의 일부 영양 조건에서의 효과 1. 생화학적, 조직학적 변화)

  • Lee, Keun-Kwang;Kim, Yong-Ho;Park, In-Seok
    • Korean Journal of Ichthyology
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    • v.11 no.1
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    • pp.33-41
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    • 1999
  • The influence of nutritional conditions on the histological changes of hepatocyte and intestinal epithelium as well as hepatosmatic index (HSI), protein, RNA and DNA concentrations of liver of Rhynchocypris oxycephalus was tested. Although, the starved group showed higher concentrations of protein, DNA and RNA than the fed group, food deprivation resulted in a decrease in the HSI, hepatocyte nucleus size and nuclear height of the intestinal epithelium. The RNA-DNA ratio appears to be a useful index of nutritional status in R. oxycephalus and may be useful for determining if R. oxycephalus is in a period of rapid or slow growth at the time of sampling. Additionally, the data have been interpreted in detail and some biologically important relationships discussed.

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A Study on The Voice Chatting System of MMORPGs in China (중국 내 MMORPG의 음성 채팅 시스템에 대한 연구)

  • LING, XU;Yoon, Hyung Sup
    • Journal of Korea Game Society
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    • v.17 no.1
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    • pp.99-108
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    • 2017
  • Communication is one of the very important factor in MMORPGs where a large number of users participate at the same time. The voice chatting system, which was appeared in the development process of the chatting system, failed in Korea but it was a great success in China. The purpose of this study is to analyze this cause. The research scope of this study is as follows. We set the range of this study from 2003 to 2015. This period covers the beginning of the growth of the Chinese game industry up to the present. The research target games are MMORPGs, which ranked 1st in sales and concurrent users. In the research and survey analysis process, various factors such as the input speed of Chinese and Korean characters and the relationship between men and women were investigated and analyzed. In conclusion, chatting system in Chinese MMORPGs has developed into three stages and we found out that voice chatting in China was relatively popularized rather than in Korea. China's slow typing speed and excellent voice chatting system were the main factors.

Mono-granular Compound Fertilizer Acting Slow Release for the Crops Under Vinyl Mulching Cultivation -II. Effect of newly developed compound fertilizer on red pepper (비닐멀칭 작물재배용(作物栽培用) 지효성(遲效性) 전용복비(專用複肥) 개발(開發) -II. 고추 전용복비(專用複肥)의 비효시험(肥效試驗))

  • Lim, Dong-Kyu;Shin, Jae-Sung;Song, Jeong-Seb
    • Korean Journal of Soil Science and Fertilizer
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    • v.20 no.3
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    • pp.217-221
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    • 1987
  • Two trial products of monogranular compound fertilizer for red pepper under vinyl mulching cultivatin were made using the principal sources of urea, diammonium phosphate and muriate of potash in combination with fillers of treated human wastes (product I) and zeolite (Product II). A field experiment was carried out to evaluate their effects on red pepper and the results obtained were as follows. Red pepper plant growth and total red fruit yields in the trial products of one time basal application were better and higher than those of NPK split application of contrl plot. The increases of yield in the trial products might be due to steady supply of nutrients for the entire growing period. Therefore, one time basal dressing of a developed monogranular compound fertilizer for red pepper was applicable under vinyl mulching cultivation.

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The Impact of Voucher Support on Economic Performance for AI Companies: Policy Effectiveness Analysis using PSM-DID Model (AI 중소기업 바우처 지원이 기업성과에 미치는 영향: PSM-DID 결합모형을 활용한 정책효과 분석)

  • SeokWon, Choi;JooYeon, Lee
    • Journal of Korea Society of Industrial Information Systems
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    • v.28 no.1
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    • pp.57-69
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    • 2023
  • In a situation where digital transformation using artificial intelligence is active around the world, the growth of domestic AI companies or AI industrial ecosystems is slow. Where a large amount of government funds related to AI are being invested to overcome the difficult economic situation, systematic research on the effect is insufficient. So, this study aimed to examine the policy effectiveness of the government artificial intelligence solution voucher support project for small and medium-sized enterprises (SMEs) using Propensity Score Matching (PSM) and Difference-in-Differences (DID) on the financial performance of beneficiary companies. For empirical analysis, PSM-DID analysis was performed using sales performance since 2019 for 461 companies with a history of voucher support among the AI SMEs data released by the National IT Industry Promotion Agency. As a result of the analysis, the beneficiary companies' asset growth, salary, and R&D expenses increased overall after government support, and no significant contribution could be confirmed in terms of profits. This study suggests that the voucher policy business directly contributed to the company's growth in the short term, but it requires a certain period of time to generate profits.

Changes in Non-Structural Carbohydrate Contents and Amylolytic Enzymes Activities during Regrowth after Cutting in Medicago sativa L. (알팔파 예취후 재생시 비구조탄수화물 함량 및 전분 분해 효소활력의 변화)

  • Tae Hwan, Kim;Byung Ho, Kim
    • KOREAN JOURNAL OF CROP SCIENCE
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    • v.41 no.5
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    • pp.542-550
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    • 1996
  • An experiment with alfalfa (Medicago sativa L.) plants was designed to investigate the changes in non-structural carbohydrate (NSC) contents and the activities of amylolytic enzymes during a regrowth period following defoliation. Sampling from hydroponic grown-plants were carried out at intervals during 24 days of regrowth. Shoot regrowth was very slow during the first 10 days and root growth was depressed after defoliation. Defoliation induced a great decrease in both total sugar and starch contents in taproots during the first 10∼14 days. A major recovery of NSC occurred from day 15. Averaged over sampling dates, the activity of exo-amylase was about 400-fold higher than that of endo-amylase. Exo-amylase activity in defoliate plants slightly increased until day 6 (maximum level) and then decreased. Endo-amylase rapidly increased for the first 4 days after defoliation and slightly increased afterwards to a maximum on day 24. These results showed that increase in amylolytic enzyme activity in taproots coincided with the time of starch utilization during regrowth and that indicated it plays an important role in starch degradation.

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