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A Study on the Determinant of Capital Structure of Chinese Shipbuilding Industry (중국 조선기업 자본구조 결정요인에 관한 연구)

  • Jin, Siwen;Lee, Ki-Hwan;Kim, Myoung-Hee
    • Journal of Korea Port Economic Association
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    • v.38 no.2
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    • pp.81-93
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    • 2022
  • Since 2008, China's shipping industry has been in a slump, with shipbuilding orders falling sharply, and high-growth excess capacity has become increasingly apparent, leaving many firms with sharply reduced orders at risk of bankruptcy and shutdown. To ensure the development of the shipbuilding industry and enhance the international competitiveness of the shipbuilding industry, it is necessary to analyze the present situation of the shipbuilding industry and the financial situation of the shipbuilding enterprises. And analyzing the problems faced by enterprises from the perspective of capital structure is very meaningful to the shipbuilders with high capital operation. We are trying to analyze the determinants of capital structure of China's shipbuilding listed companies. 30 listed Chinese shipbuilding and listed companies have been designated as sample companies that can obtain financial statements for 13 consecutive years. They also divided 30 sample companies into shipbuilding, shipbuilding-related manufacturing, and shipbuilding-related transportation. Dependent variable is the debt level of the year, independent variable includes the debt level of the previous year, fixed asset ratio, profitability ratio, depreciation cost ratio and asset size. The regression model of the panel used to analyze determinants is capital structure. The results of the empirical analysis are as follows. First, a fixed-effect model for the entire entity showed that the debt-to-equity ratio and the size of the asset in the previous period had a positive effect on the debt-to-equity ratio in the current period. Second, the impact of the profitability ratio on the debt level in the prior term also supports the capital procurement ranking theory rather than the static counter-conflict theory. Third, it was shown that the ratio of the depreciation of the prior term, which replaces the non-liability tax effect, affects the debt-to-equity ratio in the current period.

An Analysis of Velocity Patterns and Improvement Effect after Application of Domestic Roundabout Design Guidelines (Focusing on Busan Metropolitan City) (국내 회전교차로 설계지침 적용에 따른 속도패턴과 개선효과 분석 - 부산광역시를 중심으로 -)

  • Lim, Chang-Sik;Choi, Yang-Won
    • KSCE Journal of Civil and Environmental Engineering Research
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    • v.33 no.1
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    • pp.305-316
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    • 2013
  • To find out if modern roundabout is still effective under drivers behavior and driving conditions in Busan Metropolitan City, the effects before and after introduction of roundabout were analyzed. According to analysis on velocity profile at roundabout, velocity deviation decreased, and average vehicle speed was close to design speed. As a result, it has been confirmed that most roundabouts were properly built. In terms of traffic operation, average vehicle speed improved by 87.2% when a traffic intersection was replaced by a roundabout. therefore, it has been found out that the introduction of roundabout has a positive effect on increasing vehicle speed by reducing traffic congestion. In addition, annual benefits expected from the replacement from a traffic intersection to a roundabout were KRW 872 million as follows; KRW 410 million in traffic communication, KRW 39 million in transportation safety, KRW 255 million in energy saving, KRW 95 million in reduction of air pollution and KRW 73 million in reduction of traffic signal installation cost. In other words, if 10% (193 spots) of all traffic intersections (1,926 spots in total) in Busan City are replaced by roundabouts, the municipal authority would be able to save about KRW 168.3 billion. According to analysis on the benefits expected from the installation of roundabouts compared to the investment cost for traffic intersections, about KRW 679 million could be saved per roundabout. Considering 10% of all traffic intersections in the City of Busan, about KRW 131 billion could be saved annually. The traffic accidents in roundabout usually occur because drivers aren't aware of right-of-way rules. Once the right-of-way rules settle, the number of traffic accidents would significantly decrease. In addition, it is urgent to promote education and campaign for drivers, pedestrians and bikers on the roundabout.

Difference in Freshness of Soybean Sprouts as Affected by $\textrm{CO}_2$ Concentration and Postharvest Storage Temperature (콩나물 재배과정 중 기체 조성과 수확 후 저장온도에 따른 선도 변화)

  • 배경근;남승우;김경남;황영현
    • KOREAN JOURNAL OF CROP SCIENCE
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    • v.49 no.3
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    • pp.172-178
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    • 2004
  • When soybean sprouts aye grown in the closed condition (where the ratio of $\textrm{O}_2$ and $\textrm{CO}_2$ is 7 : 3), amount of $\textrm{CO}_2$ is increased and $\textrm{O}_2$ is decreased with the passage of time. At the same time, the amount of ethylene is automatically increased. By increasing the concentration of ethylene gas up to 0.5-1.0 ppm in the growth room, the length of sprouts was restricted to 6-7 cm and the thickness of sprouts was increased to 2.70$\pm$0.30 mm. The production of good quality sprouts which were fat and short was possible without application of any growth regulators such as indole-3-acetic acid known to have accumulation problem in humane body. To maintain the freshness during the transportation and prevent sprouts from rotting and bad smell at market, cold storage at 2-$5^{\circ}$ and airtightness which will restrict photosynthesis and respiration (higher than $10^{\circ}$) are needed. The freshness of sprouts is depended on the increase of $\textrm{CO}_2$ and the depletion of $\textrm{O}_2$ in the package. When the sprouts were stored below 1$0^{\circ}C$ (preferably below 8$^{\circ}C$), the concentration of $\textrm{CO}_2$ in the package remained below 30% for more than 60 hours, which was possible to keep sprouts in freshness without any offensive odor, But sprouts were maintained at $13^{\circ}$ for more than 25 hours, the concentration of $\textrm{CO}_2$ increased over 30% and produced an offensive odor. The little amount of $\textrm{O}_2$ gas was existing for 30 hours at $5^{\circ}$ but it was disappeared completely within 7 hours over $10^{\circ}$ and the sprouts became rot and produced severe offensive odor.

Pharmacological Activities of Coffee Roasted from Fermented Green Coffee Beans with Fungal Mycelia in Solid-state Culture (진균류 균사체의 고체발효 커피생두로부터 조제한 원두커피의 생리활성)

  • Shin, Ji-Young;Kim, Hoon;Kim, Dong-Gu;Baek, Gil-Hun;Jeong, Heon-Sang;Yu, Kwang-Won
    • Journal of the Korean Society of Food Science and Nutrition
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    • v.42 no.3
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    • pp.487-496
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    • 2013
  • Green coffee beans (CB, Indonesian Mandheling) were fermented with three kinds of mushrooms (Phellinus linteus, PL; Hericium erinaceum, HE; Ganoderma lucidum, GL) or two kinds of mycelia from molds (Monascus purpureus, MP; Monascus ruber, MR) using solid-state culture to enhance physiological activity. After the roasting of fermented green coffee beans, roasted coffees were extracted with a hot-water decoction or 95% ethanol reflux. Yields from hot water extracts (HW, 17.7~25.3%) were higher than those from ethanolic extracts (EE, 9.5~12.2%). Hot-water extracts of roasted coffees from green coffee beans fermented with two molds (MP-CB-HW and MR-CB-HW) showed higher total polyphenols, flavonoids, and DPPH free radical scavenging activity than roasted coffees from non-fermented (CB-HW) or fermented green coffee beans with the three mycelia from mushrooms. MR-CB-HW also had the most potent macrophage stimulating and mitogenic activity (1.32 and 1.40-fold of CB-HW, respectively). In addition, MP-CB-EE and MR-CB-EE did not show any cytotoxicity to the RAW 264.7 cell at a concentration of $100{\mu}g/mL$, and these extracts significantly inhibited nitric oxide (NO) production from the LPS-stimulated RAW 264.7 cell line (38.6 and 37.0% of the LPS-treated group). Meanwhile, the chlorogenic acid concentrations of MP-CB-HW or MR-CB-HW highly increased (to 76.21 or $76.73{\mu}g/mL$, respectively), but caffeine concentrations were not affected by solid-state fermentation. In conclusion, the physiological activities of roasted coffees were enhanced by the solid-state culture of green coffee beans with M. purpureus or M. ruber, suggesting that these roasted coffees could possibly serve industrial applications as functional coffee beverages.

Decay Rate and Nutrients Dynamics during Decomposition of Oak Roots (상수리나무 뿌리 분해 및 분해과정에 따른 영양염류 변화)

  • 문형태
    • The Korean Journal of Ecology
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    • v.27 no.3
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    • pp.165-171
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    • 2004
  • Weight loss and nutrients dynamics during decomposition of oak roots (diameter classes: R₁〈0.2㎝, 0.5㎝〈R₂〈1㎝, 1㎝〈R₃〈2㎝, 2㎝.〈R₄〈4㎝) (Quercus acutissima) were studied for 33-months in Kongiu, Korea. After 33-months, decomposition rate of R₁, R₂, R₃ and R₄ was 49.6%, 47.5%, 66.4% and 66.1%, respectively. The decomposition constant(k) for R₁, R₂, R₃, and R₄ was 0.249/yr, 0.234/yr, 0.397/yr and 0.393/yr, respectively. Larger diameter class of the root lost more weight than smaller diameter class. N concentration in decomposing oak roots increased in all diameter classes. After 33-months, remaining N in R₁, R₂, R₃ and R₄ was 66.5%, 80.7%, 84.4% and 44.4%, respectively. K concentration in decomposing oak roots decreased in early part of decomposition and then increased in later stage of decomposition. After 33-months, remaining P in R₁, R₂, R₃ and R₄ was 64.7%, 62.4%, 93.1% and 30.7%, respectively. K concentration in decomposing oak roots decreased rapidly in early stage of decomposition. Remaining K in R₁, R₂, R₃ and R₄ was 11.6%, 10.6%, 5.9% and 7.7%, respectively. Ca concentration in decomposing oak roots showed different among diameter classes. After 33-months, remaining Ca in R₁, R₂, R₃ and R₄ was 66.2%, 51.0%, 39.1% and 48.3%, respectively. Initial concentration of Mg in oak root was higher in smaller diameter class. After 33-months, remaining Mg in R₁, R₂, R₃ and R₄ was 15.3%, 29.9%, 24.5% and 69.4%, respectively.

Health Medical Center Utilization Pattern and Its Related Factors among the Rural Inhabitants (농촌지역(農村地域) 주민(住民)들의 보건의료원(保健醫療院) 이용양상(利用樣相)과 관련요인(關聯要因))

  • Hwang, Byung-Deog;Park, Jae-Yong
    • Journal of agricultural medicine and community health
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    • v.18 no.1
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    • pp.77-91
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    • 1993
  • This study was conducted to assess health medical center utilization pattern and its related factors among the rural inhabitants for the purpose of contribution to establishment of health medical center institutions. A questionnaire survey was carried out for object of 3,754 population of three primary school and three middle school student's parents (total 832 household) in Kyungbook Ulchin Gun rural area from 24 to 28 September, 1990. The summarized result are as follows, Respondents are 60.3% in male, 39.7% in female and 30-40s 81.3% in age, high school graduates 40.3% in education level and a regional medical insurance scheme in 44.1% in forms of health insurance. Recognition for health medical center was showed higher according to high educational, high income level, and short distance for location of health medical center of respondents (p < 0.01). Recognition for health medical center services was showed higher about care of medicaid in medical treatment services and higher preventive vaccination in health prevention services by respondents. Utilization rates of health medical center by out-patient care and preventive care service were 11.1 and 4.5 per 100 persons by year, but admission utilization rate was 34.6 per 10.000 persons by year. Motivations of health medical center utilization were showed a good care(45.7%), a good drugs(45.2%), and nearby health medical center(42.9%). In comparison health service levels of health medical center with general clinic was better (16.3%), similar(38.7%), 7(19.0%), and worse(19.0%) in view of health medical center utilizators. Inconvinience about health medical center utilized was the most higher longtime waiting, the next was limited utilization times. Transportation utilited were on foot(55%), by bus(35.5%), and so on. As mentioned above, there are many inhabitants who less understanding and less acknowledgement about health medical center and even mistake health center for health medical center. Therefore, there must be more information about health medical center. For higher utilization of health medical center, there must be considered expansion of health equipment, facilities, accomplishment with reinforcement of health staffs and efficiency management.

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Korean Ocean Forecasting System: Present and Future (한국의 해양예측, 오늘과 내일)

  • Kim, Young Ho;Choi, Byoung-Ju;Lee, Jun-Soo;Byun, Do-Seong;Kang, Kiryong;Kim, Young-Gyu;Cho, Yang-Ki
    • The Sea:JOURNAL OF THE KOREAN SOCIETY OF OCEANOGRAPHY
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    • v.18 no.2
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    • pp.89-103
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    • 2013
  • National demands for the ocean forecasting system have been increased to support economic activity and national safety including search and rescue, maritime defense, fisheries, port management, leisure activities and marine transportation. Further, the ocean forecasting has been regarded as one of the key components to improve the weather and climate forecasting. Due to the national demands as well as improvement of the technology, the ocean forecasting systems have been established among advanced countries since late 1990. Global Ocean Data Assimilation Experiment (GODAE) significantly contributed to the achievement and world-wide spreading of ocean forecasting systems. Four stages of GODAE were summarized. Goal, vision, development history and research on ocean forecasting system of the advanced countries such as USA, France, UK, Italy, Norway, Australia, Japan, China, who operationally use the systems, were examined and compared. Strategies of the successfully established ocean forecasting systems can be summarized as follows: First, concentration of the national ability is required to establish successful operational ocean forecasting system. Second, newly developed technologies were shared with other countries and they achieved mutual and cooperative development through the international program. Third, each participating organization has devoted to its own task according to its role. In Korean society, demands on the ocean forecasting system have been also extended. Present status on development of the ocean forecasting system and long-term plan of KMA (Korea Meteorological Administration), KHOA (Korea Hydrographic and Oceanographic Administration), NFRDI (National Fisheries Research & Development Institute), ADD (Agency for Defense Development) were surveyed. From the history of the pre-established systems in other countries, the cooperation among the relevant Korean organizations is essential to establish the accurate and successful ocean forecasting system, and they can form a consortium. Through the cooperation, we can (1) set up high-quality ocean forecasting models and systems, (2) efficiently invest and distribute financial resources without duplicate investment, (3) overcome lack of manpower for the development. At present stage, it is strongly requested to concentrate national resources on developing a large-scale operational Korea Ocean Forecasting System which can produce open boundary and initial conditions for local ocean and climate forecasting models. Once the system is established, each organization can modify the system for its own specialized purpose. In addition, we can contribute to the international ocean prediction community.

The Future of Radio and its Role in the Era of Smart Media (스마트미디어 시대 속 라디오의 미래와 역할 고찰)

  • KWON, Youngsung;SONG, Haeryong
    • Trans-
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    • v.1
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    • pp.117-139
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    • 2016
  • Radio, the first broadcasting medium in history, is also the first mobile medium that meets the currently mobile ecology based on mobile communications network. As a result, it is easily approachable to consumers, can easily engage individual consumers, and its program contents have a huge appealing power to individual listeners, allowing it to form intimacy with audiences at the closest distance. However, the listening rating of radio has decreased greatly because it has experienced various changes by many other competitive media such as TV and internet and it has been influenced by relative constant hypothesis. Also, radio now faces a bigger competition due to the emergence of smartphone. In this circumstance, radio showed movements to evolve into a digital radio that presents improved sound, strengthened reception power, and increased number of channels, but it suddenly changed to DMB and portable multimedia DMB is having huge problems in its marketability due to smartphone. Yet, the listening rating of analogue radio broadcasting that remained unchanged was 13.99% in 2014, an increase by 47% from 2011, and the percentage of listeners under the age of 18 increased by 2.4 times from 2011 to 2014, which was a unique and interesting phenomenon. Accordingly, this paper compared the characteristics of internet and radio that have the traits of daily life, information, individuality, participatory, adventurousness, alternative media, expertise, and sound media. The paper then examined the listening method of radio, in which the direct groundwave antenna reception through a vehicular device is the most common form during the use of transportation means. Finally, it sought to investigate the future of radio based on the understanding of the increase in radio listening ratings, especially by comparing it to the characteristics of smart generation that focus on smartphone and the internet The study results demonstrated that entertainment and amusements are attempting at changes while they used to be obtained selectively by the smart generation from fragmentary information. In addition, radio is expected to become an influential medium in the future through its advantages of 'selected information' and reliability. However, considering such possibilities, radio needs to build the expertise and reliability of broadcasting contents much more at the same time as its digitalization, and it will be able to have its own competitiveness by focusing on various experiences and cultural exposures.

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Analysis of Energy Savings and CO2 Emission Reductions via Application of Smart Grid System (지능형 전력망(스마트 그리드) 적용을 통한 에너지 절감 및 CO2 감축 효과 분석)

  • Park, Soo-Hwan;Han, Sang-Jun;Wee, Jung-Ho
    • Journal of Korean Society of Environmental Engineers
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    • v.39 no.6
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    • pp.356-370
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    • 2017
  • The energy savings and $CO_2$ emission reductions obtainable from the situation that the Smart Grid system (SGs) is assumed to be applied in Korea up to 2030 is quantitatively analyzed with many reported data. For calculation, SGs is divided into five sectors such as Smart Transmission and Distribution (ST&D), Smart Consumer (SC), Smart Electricity Service (SES), Smart Renewable Energy (SRE) and Smart Transportation (ST). Total annual energy savings in 2030 is estimated to be approximately 103,121 GWh and this is 13.1% of total electricity consumption outlook. Based on this value, total amount of reducible $CO_2$ emissions is calculated to 55.38 million $tCO_2$, which is 17.6% of total nation's GHG reduction target. Although the contribution of energy saving due to SGs to total electricity consumption increases as years go by, that of $CO_2$ emission reduction gradually decreases. This might be because that coal fired based power generation is planned to be sharply increased and the rate of $CO_2$ emission reduction scheduled by nation is very fast. The contributable portion of five each sector to total $CO_2$ emission reductions in 2030 is estimated to be 44.37% for SC, 29.16% for SRE, 20.12% for SES, 5.11% for ST&D, and 1.24% for ST.

Simultaneous Multiple Transmit Focusing Method with Orthogonal Chirp Signal for Ultrasound Imaging System (초음파 영상 장치에서 직교 쳐프 신호를 이용한 동시 다중 송신집속 기법)

  • 정영관;송태경
    • Journal of Biomedical Engineering Research
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    • v.23 no.1
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    • pp.49-60
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    • 2002
  • Receive dynamic focusing with an array transducer can provide near optimum resolution only in the vicinity of transmit focal depth. A customary method to increase the depth of field is to combine several beams with different focal depths, with an accompanying decrease in the frame rate. In this Paper. we Present a simultaneous multiple transmit focusing method in which chirp signals focused at different depths are transmitted at the same time. These chirp signals are mutually orthogonal in a sense that the autocorrelation function of each signal has a narrow mainlobe width and low sidelobe levels. and the crossorelation function of any Pair of the signals has values smaller than the sidelobe levels of each autocorrelation function. This means that each chirp signal can be separated from the combined received signals and compressed into a short pulse. which is then individually focused on a separate receive beamformer. Next. the individually focused beams are combined to form a frame of image. Theoretically, any two chirp signals defined over two nonoverlapped frequency bands are mutually orthogonal In the present work. however, a tractional overlap of adjacent frequency bands is permitted to design more chirp signals within a given transducer bandwidth. The elevation of the rosscorrelation values due to the frequency overlap could be reduced by alternating the direction of frequency sweep of the adjacent chirp signals We also observe that the Proposed method provides better images when the low frequency chirp is focused at a near Point and the high frequency chirp at a far point along the depth. better lateral resolution is obtained at the far field with reasonable SNR due to the SNR gain in Pulse compression Imaging .