• The Korean Journal of Financial Management
• /
• v.21 no.2
• /
• pp.99-123
• /
• 2004

We focus in this study on incremental financing decisions and estimate a logit model for the probability a firm will choose a private placement over a public bond issue. We hypothesize that information asymmetry, financial risk, agent cost, and proprietary information may affect a firm's choice between public debt and private placements. We find that as the size of firm increases, the probability of choosing a private placement declines significantly. The age of the firm, however, is not a significant factor affecting the firm's choice between public and privately-placed bond. The coefficients on the firm's leverage and non-investment grade dummy are significantly positive, meaning firms with high financial risk and credit risk select private placements. The findings regarding agency-related variables, PER and Tobin's Q, are somewhat complex. We find significant evidence that firms with high PER prefer private placements to public bonds, suggesting that borrowers with options to engage in asset substitution or underinvestment are more likely to choose private placements. The coefficient of Tobin's Q is negative, but not significant, which weakly support the hold-up hypothesis. When we construct an interaction term on the Tobin's Q with a non-investment rating dummy, however, the Tobin's Q interaction term becomes positive and significant. Thus, high Tobin's Q firms with a speculative rating are significantly more likely to choose a private placement, regardless of the potential hold-up problems. The ratio of R&D to sales, proxy for proprietary information, is positively significant. This result can be interpreted as evidence in favor of a role for proprietary information in the debt sourcing decision process for these firms.

• Journal of Intelligence and Information Systems
• /
• v.20 no.3
• /
• pp.77-92
• /
• 2014

Recently, numerous documents including unstructured data and text have been created due to the rapid increase in the usage of social media and the Internet. Each document is usually provided with a specific category for the convenience of the users. In the past, the categorization was performed manually. However, in the case of manual categorization, not only can the accuracy of the categorization be not guaranteed but the categorization also requires a large amount of time and huge costs. Many studies have been conducted towards the automatic creation of categories to solve the limitations of manual categorization. Unfortunately, most of these methods cannot be applied to categorizing complex documents with multiple topics because the methods work by assuming that one document can be categorized into one category only. In order to overcome this limitation, some studies have attempted to categorize each document into multiple categories. However, they are also limited in that their learning process involves training using a multi-categorized document set. These methods therefore cannot be applied to multi-categorization of most documents unless multi-categorized training sets are provided. To overcome the limitation of the requirement of a multi-categorized training set by traditional multi-categorization algorithms, we propose a new methodology that can extend a category of a single-categorized document to multiple categorizes by analyzing relationships among categories, topics, and documents. First, we attempt to find the relationship between documents and topics by using the result of topic analysis for single-categorized documents. Second, we construct a correspondence table between topics and categories by investigating the relationship between them. Finally, we calculate the matching scores for each document to multiple categories. The results imply that a document can be classified into a certain category if and only if the matching score is higher than the predefined threshold. For example, we can classify a certain document into three categories that have larger matching scores than the predefined threshold. The main contribution of our study is that our methodology can improve the applicability of traditional multi-category classifiers by generating multi-categorized documents from single-categorized documents. Additionally, we propose a module for verifying the accuracy of the proposed methodology. For performance evaluation, we performed intensive experiments with news articles. News articles are clearly categorized based on the theme, whereas the use of vulgar language and slang is smaller than other usual text document. We collected news articles from July 2012 to June 2013. The articles exhibit large variations in terms of the number of types of categories. This is because readers have different levels of interest in each category. Additionally, the result is also attributed to the differences in the frequency of the events in each category. In order to minimize the distortion of the result from the number of articles in different categories, we extracted 3,000 articles equally from each of the eight categories. Therefore, the total number of articles used in our experiments was 24,000. The eight categories were "IT Science," "Economy," "Society," "Life and Culture," "World," "Sports," "Entertainment," and "Politics." By using the news articles that we collected, we calculated the document/category correspondence scores by utilizing topic/category and document/topics correspondence scores. The document/category correspondence score can be said to indicate the degree of correspondence of each document to a certain category. As a result, we could present two additional categories for each of the 23,089 documents. Precision, recall, and F-score were revealed to be 0.605, 0.629, and 0.617 respectively when only the top 1 predicted category was evaluated, whereas they were revealed to be 0.838, 0.290, and 0.431 when the top 1 - 3 predicted categories were considered. It was very interesting to find a large variation between the scores of the eight categories on precision, recall, and F-score.

• Journal of the Korean Institute of Landscape Architecture
• /
• v.43 no.1
• /
• pp.29-39
• /
• 2015

This study has attempted to determine the micro-discourse from blogs as personal media that reflect citizens' actual opinions of the Seoul Forest without intervention of experts. Furthermore, a qualitative research method discourse analysis was selected to analyze the micro-discourse regarding the Seoul Forest in a time series. The extracted samples of blogs by year were intended to identify the comment section of the process of change and the discursive structure. The results are as follows; first, from the beginning of the development of the Seoul Forest to the present, it is divided into four chronological periods along with individuals' micro-discourse with social changes. During the beginning of the development of the Seoul Forest, the social discourse was formed, and in the next period, the micro-discourse was developed with a more emotional and complex discourse. In the formative period, four or five years later, the discourse reflected the civic consciousness of development more than ever, showing the diversity of participation in the program at the Seoul Forest. In the growth period, as the users' experiences had been accumulated, the users started writing about the role of the Seoul Forest in their own words. This can also be called place discourse. From the individuals' micro-discourse, this study shows the discourse structure of how individuals think about the Seoul Forest in each period. Unlike the experts, the micro-discourse contains specific daily interactions, experiences, and the stories of individuals who actually use the parks. It also shows how users reproduce and understand the space. In this respect, this is the most significant finding of this study. Based on this research, this study has demonstrated that the emotional description of a place that actually functions as a discourse about city parks, and confirms that blogs could be used as a space to form discourse and as a research tool to read the trends. In accordance with these results, this study has described not only the discourse of experts, but also how the discourse of individuals' comments can be an important part of the discourse of modern urban parks.

• Journal of the Korean Institute of Landscape Architecture
• /
• v.45 no.6
• /
• pp.62-75
• /
• 2017

This study analyzes the multiple effects of the following three aspects of waterscape facilities within apartment complexes: planning/designing, maintenance/management, and use of the facilities and suggests primary documents that will be fundamental for the methods to accelerate the implementation of waterscape facilities. A survey and analysis was conducted among a few of the most representative private apartment complexes in Seoul in accordance with the management and operation of waterscape facilities. The analysis used frequency analysis, descriptive statistics, reliability test, t-test, and PLS regression analysis. The research findings are as follows: first, the degree of use of waterscape facilities was found to be low regardless of the levels of operation, but residents' preference for the facilities was shown to be high, thus indicating there are still high expectations on the part of residents. Second, regardless of whether the facilities are being operated efficiently, the two items of location and display method under the section of planning and designing and the two items of aptitude and convenience under the section of use were found to positively affect the operation and use of waterscape facilities. Particularly, the item of freshness, cleanliness was shown to be directly and indirectly correlated with obsolescence, administration costs, and noise, which negatively affect the operation. Third, it was found that the administration costs itself that had been shown as the most negative factor of operating landscaping facilities in previous research did not cause problems in the residential area where the facilities are not operated efficiently. The finding suggests that the administration costs do not matter but that in the case of experience- and entertainment-typed facilities that residents want, they are linked to problems that do not introduce the desired facilities. Fourth, it was found that various aspects of planning, designing, maintaining, and using facilities interconnect and affect one another in the process of operating and using waterscape facilities resulting in the need to have a comprehensive approach to these three factors of planning, design, maintenance, management, and utilization. This study proposes that the needs and values of residents should be reflected to activate the introduction of landscaping facilities in the apartment complexes.

• Journal of Intelligence and Information Systems
• /
• v.20 no.1
• /
• pp.133-148
• /
• 2014

Recently, with the advent of various information channels, the number of has continued to grow. The main cause of this phenomenon can be found in the significant increase of unstructured data, as the use of smart devices enables users to create data in the form of text, audio, images, and video. In various types of unstructured data, the user's opinion and a variety of information is clearly expressed in text data such as news, reports, papers, and various articles. Thus, active attempts have been made to create new value by analyzing these texts. The representative techniques used in text analysis are text mining and opinion mining. These share certain important characteristics; for example, they not only use text documents as input data, but also use many natural language processing techniques such as filtering and parsing. Therefore, opinion mining is usually recognized as a sub-concept of text mining, or, in many cases, the two terms are used interchangeably in the literature. Suppose that the purpose of a certain classification analysis is to predict a positive or negative opinion contained in some documents. If we focus on the classification process, the analysis can be regarded as a traditional text mining case. However, if we observe that the target of the analysis is a positive or negative opinion, the analysis can be regarded as a typical example of opinion mining. In other words, two methods (i.e., text mining and opinion mining) are available for opinion classification. Thus, in order to distinguish between the two, a precise definition of each method is needed. In this paper, we found that it is very difficult to distinguish between the two methods clearly with respect to the purpose of analysis and the type of results. We conclude that the most definitive criterion to distinguish text mining from opinion mining is whether an analysis utilizes any kind of sentiment lexicon. We first established two prediction models, one based on opinion mining and the other on text mining. Next, we compared the main processes used by the two prediction models. Finally, we compared their prediction accuracy. We then analyzed 2,000 movie reviews. The results revealed that the prediction model based on opinion mining showed higher average prediction accuracy compared to the text mining model. Moreover, in the lift chart generated by the opinion mining based model, the prediction accuracy for the documents with strong certainty was higher than that for the documents with weak certainty. Most of all, opinion mining has a meaningful advantage in that it can reduce learning time dramatically, because a sentiment lexicon generated once can be reused in a similar application domain. Additionally, the classification results can be clearly explained by using a sentiment lexicon. This study has two limitations. First, the results of the experiments cannot be generalized, mainly because the experiment is limited to a small number of movie reviews. Additionally, various parameters in the parsing and filtering steps of the text mining may have affected the accuracy of the prediction models. However, this research contributes a performance and comparison of text mining analysis and opinion mining analysis for opinion classification. In future research, a more precise evaluation of the two methods should be made through intensive experiments.

• Journal of Intelligence and Information Systems
• /
• v.18 no.1
• /
• pp.39-57
• /
• 2012

Recently, due to the introduction of high-tech equipment in interactive exhibits, many people's attention has been concentrated on Interactive exhibits that can double the exhibition effect through the interaction with the audience. In addition, it is also possible to measure a variety of audience reaction in the interactive exhibition. Among various audience reactions, this research uses the change of the facial features that can be collected in an interactive exhibition space. This research develops an artificial neural network-based prediction model to predict the response of the audience by measuring the change of the facial features when the audience is given stimulation from the non-excited state. To present the emotion state of the audience, this research uses a Valence-Arousal model. So, this research suggests an overall framework composed of the following six steps. The first step is a step of collecting data for modeling. The data was collected from people participated in the 2012 Seoul DMC Culture Open, and the collected data was used for the experiments. The second step extracts 64 facial features from the collected data and compensates the facial feature values. The third step generates independent and dependent variables of an artificial neural network model. The fourth step extracts the independent variable that affects the dependent variable using the statistical technique. The fifth step builds an artificial neural network model and performs a learning process using train set and test set. Finally the last sixth step is to validate the prediction performance of artificial neural network model using the validation data set. The proposed model is compared with statistical predictive model to see whether it had better performance or not. As a result, although the data set in this experiment had much noise, the proposed model showed better results when the model was compared with multiple regression analysis model. If the prediction model of audience reaction was used in the real exhibition, it will be able to provide countermeasures and services appropriate to the audience's reaction viewing the exhibits. Specifically, if the arousal of audience about Exhibits is low, Action to increase arousal of the audience will be taken. For instance, we recommend the audience another preferred contents or using a light or sound to focus on these exhibits. In other words, when planning future exhibitions, planning the exhibition to satisfy various audience preferences would be possible. And it is expected to foster a personalized environment to concentrate on the exhibits. But, the proposed model in this research still shows the low prediction accuracy. The cause is in some parts as follows : First, the data covers diverse visitors of real exhibitions, so it was difficult to control the optimized experimental environment. So, the collected data has much noise, and it would results a lower accuracy. In further research, the data collection will be conducted in a more optimized experimental environment. The further research to increase the accuracy of the predictions of the model will be conducted. Second, using changes of facial expression only is thought to be not enough to extract audience emotions. If facial expression is combined with other responses, such as the sound, audience behavior, it would result a better result.

• Journal of the Korean Institute of Landscape Architecture
• /
• v.42 no.6
• /
• pp.101-110
• /
• 2014

This study analyzes the validity of the type classification of the type and design changes of apartment landscaping planting construction design changes that were completed in the private sector, efficiently manages the design changes that are displayed over landscaping planting work in general in the future, and performs research by placing the object underlying the presentation. The results are as follows. First, the percentage that occurred in the planting construction of design changes that have occurred in the apartment landscaping construction was carried out in the private sector and accounted for 61.8%. This indicates that part of the planting is a major design change. Second, as the cause of such a design change to be those associated with the field conditions such as lack of main construction period. In particular, due to a change in oral, appeared 7-48 times design changes of one review design change approval is complex, design changes of planting construction had shown a feature that occurs in multiple simultaneous. Third, the 7 types of Design Changes in planting design were delineated as 'design changes for consideration of the user', 'design changes for image improvement', 'design changes for ease of maintenance', 'design changes due to the mismatch of design statement', 'design changes due to the relationship with the engineering species of other', 'design changes due to lack of field study', and 'design changes due to the consideration of feasibility.' Fourth, 'design changes for consideration of the user' and 'design changes for image improvement' were found in more than half of the frequency of the overall changes. This differed from the results shown in public corporations. Fifth, if planting construction design change process, private companies, it was found that is showing the approval of the practice after the previous construction of the construction cost savings due to construction time. However, in the case of a public corporation, these exhibited a different aspect from the private sector and show a design change procedure that reflects the changes after the design change events in the field have occurred. The above results, the type of landscaping works in planting design change of public enterprises, regardless of the private sector, is the same in the seven types, the main reason of and procedures for design changes, indicating that there are other respects. In design change, it may be desirable to apply becomes liquidity rationality and efficiency of the dimension, depending on the nature of the landscape construction.

• Journal of the Mineralogical Society of Korea
• /
• v.23 no.1
• /
• pp.1-13
• /
• 2010

The Yugeum deposit in Youngduk in Gyungsangbuk-do is emplaced in the Cretaceous granitoids located in the Northeastem Gyeongsang Basin. Gold-bearing quartz veins filling the fracture with a direction of $N19^{\circ}{\sim}38^{\circ}W$ are most abundantly distributed within the Younghae granodiorite body. The formation of quartz veins can be classified into three main stages: barren quartz stage, auriferous quartz vein stage, and finally the extensive sulfide mineralization stage. Various sulfide minerals such as pyrite, chalcopyrite, galena, sphalerite, and arsenopyrite were precipitated during the hydrothermal gold mineralization process. Gold commonly occurs as fine-grained electrum in sulfides with high Au concentration (up to 93 wt%) compared to Ag. During the early gold mineralization stage, the temperature and pressure of the fluids are in the range of $220{\sim}250^{\circ}C$ and 730~1800 bar, and the oxygen fugacity is between $10^{-27}$ and $10^{-31.7}$ atm. On the other hand, the fluids of the late stage mineralization are characterized by temperature of $290{\sim}350^{\circ}C$ and pressure of 206~472 bar, and the oxygen fugacity is in the range of $10^{-26.3}{\sim}10^{-28.6}$ atm. The sulfur isotope compositions of sulfide minerals are in the range of $0.2{\sim}4.2^{\circ}/_{\circ\circ}$, while the ${\delta}^{34}SH_2S$ values range from 1.0 to $3.7^{\circ}/_{\circ\circ}$. The Ag/Au atomic ratios of electrum ranges from 0.15 to 1.10, and Au content is higher than Ag in most electrum. During the main gold mineralization stage at the relatively high temperature condition and with pH from 4.5 to 5.5, the stability of ${AuCl_2}^-$ increased while the stability of ${Au(HS)_2}^-$ decreased. Considering the pressure estimated in this deposit, the temperature of the ore fluid reached higher than $350^{\circ}C$ and ${AuCl_2}^-$ became an important species for the gold transportation. As mineralization proceeded with decreasing temperature and increasing pH and $f_{o2}$, the precipitation of sulfide minerals and accompanying electrum occurred.

• Korean Journal of Microbiology
• /
• v.53 no.2
• /
• pp.83-96
• /
• 2017

A constructed sea stream in Yeongdo, Busan, Republic of Korea is mostly static due to the lifted stream bed and tidal characters, and receives domestic wastewater nearby, causing a consistent odor production and water quality degradation. Bioaugmentation of a microbial consortium was proposed as an effective and economical restoration technology to restore the polluted stream. The microbial consortium activated on site was augmented on a periodic basis (7~10 days) into the most polluted site (Site 2) which was chosen considering the pollution level and tidal movement. Physicochemical parameters of water qualities were monitored including pH, temperature, DO, ORP, SS, COD, T-N, and T-P. COD and microbial community analyses of the sediments were also performed. A significant reduction in SS, COD, T-N, and COD (sediment) at Site 2 occurred showing their removal rates 51%, 58% and 27% and 35%, respectively, in 13 months while T-P increased by 47%. In most of the test sites, population densities of sulfate reducing bacterial (SRB) groups (Desulfobacteraceae_uc_s, Desulfobacterales_uc_s, Desulfuromonadaceae_uc_s, Desulfuromonas_g1_uc, and Desulfobacter postgatei) and Anaerolinaeles was observed to generally decrease after the bioaugmentation while those of Gamma-proteobacteria (NOR5-6B_s and NOR5-6A_s), Bacteroidales_uc_s, and Flavobacteriales_uc_s appeared to generally increase. Aerobic microbial communities (Flavobacteriaceae_uc_s) were dominant in St. 4 that showed the highest level of DO and least level of COD. These microbial communities could be used as an indicator organism to monitor the restoration process. The alpha diversity indices (OTUs, Chao1, and Shannon) of microbial communities generally decreased after the augmentation. Fast uniFrac analysis of all the samples of different sites and dates showed that there was a similarity in the microbial community structures regardless of samples as the augmentation advanced in comparison with before- and early bioaugmentation event, indicating occurrence of changing of the indigenous microbial community structures. It was concluded that the bioaugmentation could improve the polluted water quality and simultaneously change the microbial community structures via their niche changes. This in situ remediation technology will contribute to an eco-friendly and economically cleaning up of polluted streams of brine water and freshwater.

• Pediatric Infection and Vaccine
• /
• v.18 no.2
• /
• pp.124-134
• /
• 2011

Purpose : We have tried to search all concerning data on the policies of hepatitis B vaccination or surveillance of medical equipments that can transmit blood mediated diseases, including disposable syringe, in Republic of Korea, to propose references to other medical professionals. Methods : Data from domestic journals, government websites, computerized newspapers, etc. were reviewed. The data were arranged into four categories (governmental policies on hepatitis B control, hepatitis B mass immunization program in school, using process of hepatitis B vaccine, and policies on medical equipments surveillance, including disposable syringes, which is considered as source of blood mediated infection), and the periodic changes on each subjects in policies were reviewed. Results : Due to growing social concerns on hepatitis B in early 1980s, swift introduction and production of hepatitis B vaccine was made. After establishment of "5 year project for eradication of hepatitis B" in late 1983, number of vaccinated population jumped up to 6 million within 2 years (1984-85). However, since the immunization targets were mainly adult, not infant, this project was annulled in late 1985. Following this project, hepatitis B mass immunization program in school was carried out. In year 1995, hepatitis B vaccine was included in national immunization program. The use of disposable syringe was recommended from year 1980 but legislated in year 1985, finally. Conclusion : The mainstay in controlling hepatitis B in Republic of Korea was coordination of prompt introduction of vaccine, mass immunization, high vaccination coverage rate, or use of disposable syringes. However, since there is lack of official data available, it is urgent to arrange and computerize all government data related to infectious diseases.