코스닥상장기업 창업가족의 지분율이 우회상장대상기업의 기업가치에 미치는 영향

조국연 ( Kook Yeon Cho ),윤병섭 ( Byung Seop Yoon ),이재춘 ( Jae Choon Lee ) 아시아.유럽미래학회 2009 유라시아연구 Vol.6 No.2

Our main purpose of this study is to evaluate the impact of the Founding-family equity holding ratio of a KOSDAQ-listed company on its market valuation. We analysed all the shells in the manufacturing and service industry except financial institutions that were listed in KOSDAQ between January 1th, 2005 and July 31th. Among 158 sample shell firms, we selected 140 firms, accounting 88% of the total. The results are as follows,. First, we analyzed the difference in the Founding-family equity holding ratio between before and after the backdoor listing. By averaging the Founding-family equity holding ratio of the sample firms, we compared the difference in abnormal returns between the shell companies above and below the average. The results show that during the event date(-45, 60), the firms with over 37.40% of the Founding-family equity holding ratio performed higher abnormal return than those below 37.40%. This is because the shell firms with the Founding-family equity holding ratio above 37.40% are shown to better reflect the passion of the founding family, quick decision makings, the efforts to gain respect from the workers and expectations against risky investment for the firm`s growth. Secondly, through a regression analysis, the effects of the shell companies` Founding-family equity holding ratio event dates on market value are found to be that ① cumulative abnormal return of the shell firms with higher Founding-family equity holding ratio have positive effects on market value. This reflects that the family firms have positive effects on the firm`s internal value. The firms with stable ownership are to be structurally strong through a long-term investment, leading to gaining positive reputation in the market. ② As the firm`s total asset is high, the shell companies` cumulative abnormal return make significantly positive effects. ③ The debt ratio negatively affects the shell companies` cumulative abnormal return, but it is not significant. Thirdly, we examined the effects on the market value during the period of significant event date t(-5,0). The regression analysis suggests that the shell companies` cumulative abnormal return has significantly positive effects when the Founding-family equity holding ratio is higher, the total asset of the firm is bigger, And the debt ratio is lower.

금융사고에 대한 금융기관 종사원의 인지 및 경험에 관한 연구

홍효석,이춘화,조국연,Hong, Hyo-Seog,Lee, Chun-Hwa,Cho, Kook-Yeon 한국벤처창업학회 2007 벤처창업연구 Vol.2 No.2

Since 1998, Korean economy has damaged financial structural coordination from business firms to financial institutions. The monetary circumstances, the faithless management in financial institution, caused an usiness shrinkage. Specially, the monetary circumstances come by every year from large to small. This dissertation examines the recognition & experience of institution employee to the monetary circumstances that underlie the announcement effects. The sample of this study consists of 201 survey which have 1st and 2nd financial institution from Gyeungnam to Seoul. To examine and identify factors that the Recognition & Experience of the Monetary Circumstances this study uses t-test, ANOVA, multiple regression. The variables SEX, AFF, FRA show expected signs and are statistically significant. The variables MAR, SCH, PER, POS, LEN and REC were turned out to be insignificant. The above results suggest that institution employee, which have male, take part lending in affairs and uneasy home status, have more recognize to the financial circumstances.

방사선 조사에 의한 문어 자숙액의 항산화 활성 증가 원인 규명

최종일(Jong-il Choi),김연주(Yeon-Joo Kim),성낙윤(Nak-Yun Sung),김재훈(Jae-Hun Kim),안동현(Dong-Huyn Ahn),전병수(Byung-Soo Chun),조국연(Kook Yeon Cho),변명우(Myung-Woo Byun),이주운(Ju-Woon Lee) 한국식품영양과학회 2009 한국식품영양과학회지 Vol.38 No.1

문어 자숙액 에탄올 추출물의 감마선 및 전자선 조사에 의한 항산화능의 증가 원인을 규명하고자 본 실험을 실시하였다. 문어 자숙액 에탄올 추출물에 polyclar™를 처리하여 폴리페놀을 흡착시켜 제거한 자숙액 추출물의 방사선 조사에 따른 DPPH 라디칼 소거능 변화를 측정한 결과, 폴리페놀이 제거되지 않은 자숙액에서와 같은 방사선 조사에 의한 항산화능 증가가 확인되어졌다. 따라서 방사선 조사에 의한 자숙액의 항산화능의 증가는 폴리페놀에 의한 원인이 아닌것으로 판단되었다. 자숙액에 많은 함량을 차지하고 있는 단백질에 대한 방사선 영향을 확인하기 위하여 (NH4)2SO4를 이용한 침전법으로 분리하여 얻어진 문어 자숙액 단백질 수용액에 방사선 조사한 결과 감마선 및 전자선 조사에 의하여 50% 이상 라디칼 소거능이 증가하였다. 이러한 연구결과는 문어 자숙액에 감마선 및 전자선 조사를 적용하였을 때 항산화 활성이 증가하는 이유는 폴리페놀의 함량의 증가에 의한 것보다는 조사에 의해 단백질 구조가 변화되고 이에 따라 항산화 활성이 증가하게 되는 것이라고 사료된다. This study was conducted to investigate the reason for the increase in the antioxidant activity of cooking drip from Enteroctopus dofleini by gamma and electron-beam irradiation. To define the effect of irradiation on the antioxidant activity of polyphenol in cooking drip, polyphenol excluded cooking drip extracts were prepared with polyclar™. But, the antioxidant activity of the cooking drip extracts without polyphenol was still increased by both irradiations. Instead, the effect on the proteins in the cooking drips prepared by ammonium sulfate precipitation showed great increase in antioxidative activity by irradiation. From these results, it was concluded that the increase in the antioxidative activity in cooking drips by the irradiation was caused by the structural modification of proteins in the cooking drips.

감마선 조사에 의한 수산 자숙액의 단백질 함량 변화

최종일(Jong-il Choi),김현주(Hyun-Joo Kim),성낙윤(Nak-Yun Sung),변의백(Eui-Baek Byun),김재훈(Jae-Hun Kim),전병수(Byung-Soo Chun),안동현(Dong-Hyun Ahn),조국연(Kook Yeon Cho),변명우(Myung-Woo Byun),이주운(Ju-Woon Lee) 한국생물공학회 2008 KSBB Journal Vol.23 No.6

大田 3大 河川의 自然河岸과 人工河岸의 植物相과 植物群落의 比較

이정하,조국연,김성덕,이남주 忠南大學校 環境問題硏究所 1998 環境硏究 Vol.16 No.-

The phytosociological investigation was carried out at natural and artificial streamsides over 3 main streams located in Taejeon, by Braun- Blanquet's method for the comparative study of the flora and vegetation from May to October, 1998. On the natural streamside, total number of vascular plant species were 142 species and hydrophyte of them was 27 species, while on the artificial streamside the former species number was 138 species and hydrophyte was 21 ones. The plant communities in the natural streamside were classified into 17 groups, such as Zizania latifolia community, Typha orientalis community, Phragmites communis community, Phragmites japonica community, Miscanthus sacehariflorus-Hemarthria sibirica community, Leersia japonica community, Trapa japonica-Trapa pseudo-incisa community, Marsilea quadrifolia community, Hydrilla verticillata-Myriophyllum verticillatum community, Vallisneria asiatica-Potamogeton malaianus var. latifolius community, Myriophyllum verticillatum community, Spirodela polyrhiza- Lemna paucicostata community, Salix glandulosa-Salix koreensis community, Salix gracilistyla community, Salix koreensis community, Phalaris arundinacea community, Persicaria hydropiper community. On the other hand, the plant community in the artificial streamside was classified into 14 communities, such as Zizania latifolia community, Typha orientalis community, Miscanthus sacchariflorus - Hemarthria sibirica community, Phragmites japonica community, Leersia japonica community, Hydrilla verticillata-Myriophyllum verticillatum community, Vallisneria asiatica- Potamogeton malaianus community, Paspalum distichum community, Phalaris arundinacea community, Persicaria hydropiper community, Zoysia japonica-Digitaria sanguinalis community, Panicum dichotomiflorum-Persicaia lapathifolia community, Echinochloa crusgalli- Setaria viridis community, Artemisia princeps community, Rumex crispus- Rorippa islandica community, Portulaca oleracea community, Potentilla paradoxa community, Panicum dichtomiflorum community. Number of species and plant communities were variously distributed over the various sites in the natural streamside, it is more than in the artificial streamside was distributed. These results mean that the distribution of plant community and number of species in the wild plant were more closely to be related to the human impacts or one's disturbance.