• The Bulletin of The Korean Astronomical Society
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• v.38 no.1
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• pp.32.2-32.2
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• 2013

We examine large-scale environmental effects on the formation and the mass growth of dark matter halos. To facilitate this, we constructed dark matter halo merger trees from a cosmological N-body simulation, which enabled us to trace the merger information and the assembly history of individual halos. In fact, since the massive halos are more likely to be distributed in denser regions than in less dense regions (Mo & White, 1996), the large-scale environment dependence of the properties of halos can be partly originated from the halo mass effect. In order to avoid such contamination, caused by the mass dependence of halo properties, we carefully measured the local overdensity as the indicator of large-scale environment, which was calculated to be as independent of halo mass as possible. Small halos (${\sim}10^{11-12}M_{\odot}$), which usually host isolated single galaxies, show a notable difference on the formation time of galaxies depending on their large-scale environments, which reconfirms halo assembly bias (Gao & White, 2007). Furthermore, we investigate how this environmental effect on small halos is correlated with the mass assembly history of galaxies by using our semi-analytic model. We found that assembly bias in small halos does not have significant effects on the formation time or on the star formation history of galaxies residing in those halos except for the individual stellar mass of galaxies at z = 0. On average, isolated galaxies in high-density regions tend to be slightly more massive than those in low-density regions. Although the observational data from the current galaxy surveys is not yet sufficient for testing this prediction, future galaxy surveys will be able to explore these small galaxies more thoroughly.

• Publications of The Korean Astronomical Society
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• v.30 no.2
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• pp.463-464
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• 2015

It has been suggested that only the most luminous AGNs ($L{\gtrsim}10^{45}erg/s$) are triggered by galaxy mergers, while less luminous AGNs ($L{\sim}10^{43}erg/s$) are driven by other internal processes. The lack of merging features in low luminosity AGN host galaxies has been a primary argument against the idea of merger triggering of low luminosity AGNs. But a merger, especially a rather minor one, might still have played an important role in low luminosity AGNs, as minor merging features at low luminosities are more difficult to identify than major merging features. Using SNUCAM on the 1.5 m telescope at Maidanak observatory, we obtained deep optical images of NGC 7743, a barred spiral galaxy classified as a Seyfert 2 AGN with a low bolometric luminosity of $5{\times}10^{42}erg/s$. Surprisingly, we discovered a merging feature around the galaxy, which indicates past merging activity in the galaxy. This example indicates that the merging fraction of low luminosity AGNs may be much higher than previously thought, hinting at the importance of galaxy mergers even in low luminosity AGNs.

• Proceedings of the Korea Technology Innovation Society Conference
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• 2010.11a
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• pp.203-212
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• 2010

Examining the relation between market structure and the value of innovation is important for competition and STI policy. If the value is large in a specific industry structure, government may lead the industry to take that form to enhance innovation. Our simple calibration in the case of linear demand and constant MC results in the conclusion that the incentive for R&D in the case of major and minor innovation in Cournot competition is less than that of merger and cooperative R&D. This emphasizes again "necessary evil" as a monopoly for innovation.

• Information Systems Review
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• v.11 no.2
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• pp.45-66
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• 2009

A number of companies are considering for merger and acquisition (M&A) as one of business strategies for their growth and survival. However, many of them do not create the synergy they had sought, and failed M&A, often result in negative outcomes in terms of productivity, market share, profitability and turnover of qualified employees. There have been numerous research studies conducted to analyze the factors that determine the success and failure of M&A, and it has been found that with the increasing dependence of many companies on information systems, post-M&A IS (information systems) integration success has a critical effect on the success of M&A. However, there have been very few studies on post-M&A IS integration success, and most have been restricted to integration of IS organizations or physical information systems. In order to conduct a comprehensive research on the factors that affect the success of post-M&A IS integration, this study surveyed preceding researches on not only information systems but also strategic management, economics, finance, HRM (human resource management) and organization management. Based on the findings, a comprehensive and integrated model of the influential factors on post-M&A IS integration has been proposed. The proposed model categorizes the factors into perspectives of M&A, strategy, organization, HRM and IS, and provides an empirical evaluation of each factor on the success of IS integration based on comparative case studies.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.12 no.6
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• pp.49-63
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• 2017

The purpose of this study is to analyze the effects of the collective characteristics of SMEs on M&A activity on the disclosure effect of mergers and long-term business performance after mergers. From 2000 to 2012, we examine 717 cases of small and medium-sized enterprises (SMEs) using multiple regression analysis and difference analysis. The results of this study are as follows. First, it is confirmed that the effect on the merger announcement effect is the same as the previous study on the Korean capital market listed companies except for the effect of diversification, listing effect, and cross-border effect. In addition, we have found that firms with higher performance in the past have higher excess returns in the disclosure effect of mergers and acquisitions. Second, unlike the previous studies that non-related mergers have a positive effect on long-term operating performance, for the characteristics of SMEs with lower market competitiveness than that of average listed companies, SMEs merging with same industry group companies have a positive effect on long-term operating performance. This study provides a new perspective on the merger and acquisition of SMEs by examining the effects of M&A announcement and long-term performance.

• Journal of Venture Innovation
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• v.6 no.4
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• pp.113-131
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• 2023

Post-merger integration(PMI) plays a very important role in the success of M&A. Therefore, based on previous studies on PMI, this study discusses the relationship between communication of acquired enterprise members and uncertainty reduction, organizational satisfaction, organizational trust in the PMI process, focusing on the moderating effect of business area consistency between the acquisition and the acquired company. In order to achieve the purpose of this study, the hypothesis of the relationship between variables was established and an empirical analysis was conducted. In order to collect data, a survey was conducted on members of the acquired company in China, and 317 questionnaires were finally collected and used for empirical analysis. For the collected data, the research hypothesis was verified using SPSS 26.0. The results of the study confirmed that communication has a positive effect on the reduction of uncertainty, job satisfaction, and organizational trust perceived by members of the acquired company, and that the consistency in business areas between the acquisition and the acquired company weakens the relationship between communication and uncertainty. In the positive relationship between communication and job satisfaction, organizational trust, the effect of strengthening the moderating variable has not been confirmed, but rather the weakening control effect was found. Based on these findings, the strategy of communicating with the members of the acquired company in the PMI process is meaningful for the success or failure of the merger and provides theoretical and practical implications for proposing differentiated human resources management measures according to M&A type.

• Journal of The Korean Astronomical Society
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• v.35 no.4
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• pp.159-174
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• 2002

Cosmological hydrodynamic simulations of large scale structure in the universe have shown that accretion shocks and merger shocks form due to flow motions associated with the gravitational collapse of nonlinear structures. Estimated speed and curvature radius of these shocks could be as large as a few 1000 km/s and several Mpc, respectively. According to the diffusive shock acceleration theory, populations of cosmic-ray particles can be injected and accelerated to very high energy by astrophysical shocks in tenuous plasmas. In order to explore the cosmic ray acceleration at the cosmic shocks, we have performed nonlinear numerical simulations of cosmic ray (CR) modified shocks with the newly developed CRASH (Cosmic Ray Amr SHock) numerical code. We adopted the Bohm diffusion model for CRs, based on the hypothesis that strong Alfven waves are self-generated by streaming CRs. The shock formation simulation includes a plasma-physics-based 'injection' model that transfers a small proportion of the thermal proton flux through the shock into low energy CRs for acceleration there. We found that, for strong accretion shocks, CRs can absorb most of shock kinetic energy and the accretion shock speed is reduced up to $20\%$, compared to pure gas dynamic shocks. For merger shocks with small Mach numbers, however, the energy transfer to CRs is only about $10-20\%$ with an associated CR particle fraction of $10^{-3}$. Nonlinear feedback due to the CR pressure is insignificant in the latter shocks. Although detailed results depend on models for the particle diffusion and injection, these calculations show that cosmic shocks in large scale structure could provide acceleration sites of extragalactic cosmic rays of the highest energy.

• The Bulletin of The Korean Astronomical Society
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• v.41 no.1
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• pp.40.1-40.1
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• 2016

Recent integral-field spectrograph surveys have found that similar-looking early type galaxies have wide range of rotational properties (Emsellem et al. 2007). This finding initiated a new point of view to the galaxies; rotation of galaxy as the first parameter of galaxy classification (Emsellem et al. 2011, Cappellari et al. 2011, for example). Some theoretical studies tried to address the origin of galaxy rotation. Idealized galaxy merger simulations have shown that galaxy-galaxy interactions have significant effects on the rotation of galaxies. Cosmological simulations by Naab et al. 2014 also added some more insights to the rotation of galaxies. However, previous studies either lack cosmological background or have not enough number of samples. Running a set of cosmological hydrodynamic zoom-in simulations using the AMR code RAMSES(Teyssier 2002). we have constructed a sample of thousands of galaxies in 20 clusters. Here we present a kinematic analysis of a large sample of galaxies in the cosmological context. The overall distribution of rotation parameter of simulated galaxies suggests a single peak corresponding to fast rotating galaxies. But when divided by mass, we find a strong mass dependency of galaxy rotation, and massive galaxies are distinctively slow rotating. The cumulated effective of mergers seems to neutralize galaxy rotation as suggested by previous studies (Khochfar et al. 2011, Naab et al. 2014, and Moody et al. 2014). This is consistent with the fact that massive galaxies tend to rotate more slowly after numerous mergers. However, if seen individually, merger can either increase or decrease galaxy rotation depending on mass ratio, orbital parameter, and relative rotation axis of the two galaxies. This explains the existence of some non-slow rotating massive early type galaxies.

• STI Policy Review
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• v.3 no.2
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• pp.152-171
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• 2012

In April 2001, many Japanese national institutes were reorganized as Independent Administrative Institutions (IAI) based on the General Act for Independent Administrative Institutions and the act for each institution. Under the Ministry of Education, Culture, Sports, Science and Technology (MEXT), the National Institute for Materials Science (NIMS) was established by the merger of the National Research Institute for Metals (NRIM) and the National Institute for Research in Inorganic Materials (NIRIM). One of the biggest changes was the expansion of autonomous administration. The nanotechnology and material R&D field was prioritized in the 2nd (2001-2005) and the 3rd (2006-2010) Science and Technology Basic Plans; subsequently, NIMS was assigned to take the initiative in nanotechnology as well as materials science. NIMS has proactively expanded research fields through the introduction of researchers from polymers, electronics, and biotechnology as well as member institutes of the World Materials Research Institute Forum (WMRIF). Globalization has been promoted through programs that include the International Center for Young Scientists (ICYS) and the International Center for Materials Nanoarchitectonics (MANA). The 4th Science and Technology Basic Plan (2011-2015) emphasizes outcomes-recovery and rebirth from the disaster, green innovation, and life innovation. The Midterm Plan for NIMS also follows it. R&D collaboration by multi-partners (that include industry, university, and GRI) should be strategically promoted where GRI are especially required to play a hub function for innovative R&D and open innovation. NIMS highlights are Tsukuba Innovation Arena (TIA) and the Nanotechnology Platform Project. On January 20, 2012, a new organization was decided on by the Japanese Government where several IAI from different science and technology areas will be merged to realize more effective R&D as well as administrative cost reductions. NIMS is also supposed to be merged with 4 other R&D IAI under MEXT by the end of 2013.

• Environmental and Resource Economics Review
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• v.17 no.4
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• pp.751-774
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• 2008

In this paper, we examine the institutional prices differences in the electricity and natural gas industries using unbalanced panel data from 1999 to 2001. The changing market structures following deregulation in both markets allow us to examine the institutional prices differences by ownership type, market structure and merger activities. Estimating the reduced form, after controlling both intrinsic characteristic (marginal costs) and external factors (demand), allows us to identify the extent to which specific factors are correlated with the price. Furthermore it allows us to identify systematic institutional price differences in both electricity and natural gas markets. Our estimation results suggest that the private firms in electricity markets are associated with higher prices than public firms after controlling for demand and cost. We further find that dual-product firms in the natural gas industry and the electricity industry are associated with lower rates than single product firms. These results provide a weak evidence of economies of scope in the dual-product firms. Our results finally suggest that merger activities in natural gas markets are associated with higher rates.