Detection of Nitroaromatic Compounds Based on Fluorescent Silafluorene Chemosensors

김범석,Kim, Bumseok The Basic Science Institute Chosun University 2010 조선자연과학논문집 Vol.3 No.1

A simple and rapid method is described for detecting nitroaromatic explosives in air or seawater with the use of photoluminescent organosilicon compounds. The synthesis, spectroscopic characterization, and fluorescence quenching efficiency of silafluorenes are reported. Silafluorenes were synthesized from the reduction of dilithiobiphenyl with dichlorosilanes. Two silafluorenes were used for the detection of nitroaromatic compounds. Detection of nitroaromatic molecules, such as 2,4-dinitrotoluene (DNT), 2,4,6-trinitrotoluene (TNT), and picric acid (PA), has been explored. A linear Stern-Volmer relationship was observed for the first three analytes. Fluorescence spectra of silafluorenes obtained in either toluene solutions or thin films displayed no shift in the maximum of the emission wavelength. The photoluminescence quenching occurs by a static mechanism.

자료포괄분석(DEA)을 이용한 주식의 가치 평가

김범석(BumSeok Kim),김명석(Myung S. Kim),민재형(Jae H. Min) 한국경영과학회 2011 經營 科學 Vol.28 No.3

This study suggests a DEA(Data Envelopment Analysis) based model to evaluate the value of corporate stock. The model integrating PER(Price-Earning Ratio), PBR(Price-BookValue Ratio), PSR(Price-Sales Ratio) and volatility in DEA structure has an advantage of overcome the limitation of traditional financial ratio based models. In order to show the effectiveness of the suggested model. we compare the performance of portfolio composed by DEA approach with those of portfolios made by traditional approaches such as PER, PBR, and PSR in terms of stock return and volatility. Specifically, we use the data of all the enterprises listed on the S&P 500 in the U.S. in 2007 and 2009 as the sample data for the experiments. The results of the experiments show that the performance of the DEA approach is clearly better than those of other approaches. Particularly, in sharply plummeting market, the performance of the DEA approach is shown to be prominently better than those of other approaches as the DEA approach reflects investment risk as well as profitability and growth. The DEA score combining the existing investment indices may serve as a useful barometer for selecting a stable and profitable portfolio.

기업의 ESG 노력과 재무성과의 선후행 관계:

김범석(Bumseok Kim),민재형(Jae Hyung Min) 한국생산관리학회 2016 한국생산관리학회지 Vol.27 No.4

본 연구에서는 기업의 환경(E), 사회(S), 지배구조(G) 측면의 노력과 재무성과의 선후행 관계를 확인하기 위해 시점별 분석을 수행하고, 시사점을 제안하였다. 기업의 ESG 노력의 대리치로는 한국기업지배구조원의 ESG 평가등급을 사용하 고, 기업의 재무성과로는 재무제표 분석 및 신용평가 등에서 일반적으로 사용되는 61개의 재무비율을 사용하였다. 구체적 으로, 순위 프로빗 모형과 단계별 변수선택법을 이용하여 기업의 ESG 평가등급에 영향을 미치는 평가 전기, 당기 시점 의 재무비율을 탐색함으로써 ESG 노력에 선행하거나 ESG 노력과 함께 변화하는 재무성과를 확인하였다. 아울러 분산분 석을 통해 ESG 평가등급에 따라 유의한 차이가 존재하는 평가 차기 시점의 재무비율을 확인함으로써 기업의 ESG 노력 이 유인하는 재무성과를 판별하였다. 분석 결과, 규모가 크고 수익성이 좋으며 장기적인 투자를 수행하는 기업들의 비재 무적 성과가 공통적으로 높게 나타났다. 특히, 품질 및 유연성 측면에서 생산역량을 지닌 기업들이 비재무적 성과에 대한 이행의지가 높음을 확인할 수 있었다. 한편, 환경, 사회, 지배구조 등의 비재무적 성과가 좋은 기업은 공통적으로 전반적 인 수익성과 현금창출능력이 개선되고, 지속적으로 투자활동을 수행하고 있음을 확인할 수 있었다. 분석 결과를 정리하 면, 기업의 생산역량은 비재무적 성과의 이행의지에 영향을 미치고, 비재무적 성과는 공급사슬 효율성 등을 개선시켜 궁 극적인 수익성을 개선시키며, 수익성과 지속적인 투자는 다시 생산역량을 개선시키는 선순환의 관계에 있음을 확인할 수 있다. 이와 같은 결과는 기업의 비재무적 성과 향상을 위한 노력은 장기적이고도 연속적으로 수행되어야하고, 이러한 노 력이 이루어진다면 기업의 지속가능성과 경영성과를 동시에 성취할 수 있음을 시사한다. A firm’s responsibilities are two-fold: one is its financial responsibility such as maximizing profits and stockholders wealth; the other is the non-financial responsibility of maintaining a sound business ecosystem and enhancing the level of performance in terms of environmental, social, and governance aspects. Although firms are growingly concerned with non-financial responsibility in order to achieve sustainability, there has not been enough evidence ensuring the causal relationship between non-financial and financial performance to motivate the firms to make investments in improving their non-financial performance. Moreover, the effect of non-financial performance may occur with a time lag. This study investigates the lead and lag relationships between the firm’s efforts for improving non-financial performance of environmental (E), social (S), and governance (G) aspects, and their financial performance. For the empirical tests, we use the ESG grades published by the Korea Corporate Governance Service as a proxy of a firm’s non-financial performance. To measure the financial performance of firms, we use 61 financial ratios commonly used in the context of financial statements and credit assessments of firms. To find the financial ratios preceding non-financial performance, we employ an ordered probit model with a stepwise selection method, and figure out which ratios have statistically significant correlations with the non-financial performance grades. Moreover, to examine the effect of a firm’s non-financial performance on financial performance, we employ a two-way ANOVA with a randomized block design.

시판 백신접종 스트레스 완화제의 돼지 구제역 백신 접종부위 부작용 발생 저감 효과 평가

박유리,임다래,김혜령,박민지,김범석,김원일,홍창호,김성년,박최규,Park, Yu-Ri,Lim, Da-Rae,Kim, Hye-Ryung,Park, Min-Ji,Kim, Bumseok,Kim, Won-Il,Hong, Chang-Ho,Kim, Sung-Nyon,Park, Choi-Kyu 한국동물위생학회 2017 韓國家畜衛生學會誌 Vol.40 No.3

In this study, we evaluated the efficacy of a commercial vaccine stress-relieving agent (Anti VS-2 injection) to reduce the adverse effects of foot-and-mouth disease (FMD) vaccination site in 120 pigs on two tested pig farms. The results showed that incidence of pig with abnormal meat, size of abnormal meat and weight of discarded abnormal meat are significantly decreased in Anti VS-2 injection-supplemented FMD vaccinated pig groups (n=60) compared to the non-supplemented FMD vaccinated pig groups (n=60) (P<0.05). And the average economic loss by discard of abnormal meat were estimated 99,382 won or 21,514 won in the non-supplemented FMD vaccinated groups or in the Anti VS-2 injection-supplemented FMD vaccinated groups, respectively, showing that the cost saving effect was 78% (77,869 won). In conclusion, it is expected to reduce the incidence and severity of abnormal meat in the FMD vaccinated pigs and to contribute not only to the reduced economic loss of pig farmers but also to the promotion of food hygiene when the Anti VS-2 injection is mixed with FMD vaccine.

기업의 ESG 노력은 지속가능경영의 당위적 명제인가? 기업의 재무상태에 따른 비재무적 책임 향상 노력의 차별적 효과

민재형(Jae H. Min),김범석(Bumseok Kim) 한국경영과학회 2019 經營 科學 Vol.36 No.1

This study figures out the relationship between firms’ non-financial performance, such as the environment, social, and governance factors, and their short-term as well as long-term values by their respective financial conditions. For the empirical tests, we divide the sample firms into four groups based on their financial status and non-financial performance, and conduct a series of regression analyses and the following Duncan groupings. For the response variables, we employ stock annual log returns as the proxy of a firm’s short-term value, and Tobin’s Q ratios as that of its long-term value. The results of the study show that the firm’s non-financial performance has a negative (-) effect on their short-term value. Moreover, when the firm’s financial status is not in good shape, it is advised that they should, in the first place, make an effort to improve their financial performance rather than to improve their non-financial one since the former is more effective to increase their long-term value than the latter. When the firm’s financial status is in good shape, however, it is shown that their effort to improve non-financial performance provides them with additional value beyond their financial performance. This study overcomes the limitations of previous studies lacking in considering the firm’s individual financial soundness, and provides a realistic guidance for the firms to pursue corporate social responsibility and their respective sustainability.

지속가능경영을 위한 기업의 환경적, 사회적, 지배구조적 요인이 주가수익률 및 기업 가치에 미치는 영향

민재형(Jae H. Min),김범석(Bumseok Kim),하승인(Seungyin Ha) 한국경영과학회 2014 한국경영과학회지 Vol.39 No.4

This study empirically examines the impact of firms’ environmental (E), social (S), and governancial (G) factors on their short-term and long-term values. To measure firms’ non-financial performance, we use ESG performance grades published by KCGS (Korea Corporate Governance Service). We employ stock log return as the proxy of each firm’s short-term value, and Tobin"s Q ratio as that of its long-term value. From a series of regression analyses, we find each of the ESG factors generally has a negative impact on stock return while it has a positive impact on the Tobin"s Q ratio. These results imply that firms’ effort for enhancing their non-financial performance may adversely affect their financial performance in a short term; but in the long-term point of view, firms’ values increase through their good images engraved by their respective social, environmental and governancial efforts. In addition, we compare the relative strength of impact among E, S, G, the three non-financial factors on the firms’ value measured in Tobin’s Q ratio, and find that S (social factor) and G (governancial factor) give statistically significant impact on the firms’ value respectively. This result tells us it would be advised to strategically embed CSV (creating shared value) pursuing both of profits and social responsibility in the firms’ future agenda. While E (environmental factor) is shown to be an insignificant factor for the firms’ value, it should be emphasized as a major concern by all the stakeholders in order to form a sound business ecosystem.

기업의 동반성장 노력이 재무성과에 미치는 영향

민재형(Jae H. Min),김범석(Bumseok Kim) 한국경영과학회 2013 經營 科學 Vol.30 No.2

In this study, we empirically examine the impact of win-win growth effort of domestic large firms on their financial performance. Specifically, we classify the financial performance into three aspects such as profitability, stability and efficiency, select corresponding financial ratios to each aspect, and analyze the causal relationship between the firms’ win-win growth effort and each of the financial ratios. In addition, we figure out the impact of the firms’ win-win growth effort on their stock rate of return. From the analysis, we show that the win-win growth effort has a positive impact on the firms’ profitability, stability and stock prices; however, it does not give statistically significant impact on the firms’ efficiency with even negative impact on it. These results imply that the firms’ win-win growth effort could bring about inefficiency in their business operations, but the effort could increase the firms’ profitability and make their financial structure more stable. Furthermore, the effort could enhance the firms’ image of leading CSR (corporate social responsibility), which in turn increase their stock values.

의사결정스타일과 위험성향의 측정, 분포, 그리고 그 관계

배은성(Eunsung Bae),김범석(Bumseok Kim),민재형(Jae H. Min) 한국경영과학회 2016 한국경영과학회지 Vol.41 No.4

We measure individuals’ decision making styles and risk attitudes from a sample of Korean adults using the general decision making styles (GDMS) and the multiple price list design (MPLD), respectively. With the measurement results, we identify the distributions of the decision making styles and risk attitudes, and explore the relationship between them. Specifically, we conduct an exploratory experiment to find out some meaningful characteristics of the Korean adults in terms of their decision making styles and risk attitudes. The results of the experiment show that the distribution of the five decision making styles turns out to be different by the demographic characteristics of the sample. In addition, risk attitudes of the Korean people are quite distinct from those shown in the previous studies which were mostly conducted in the United States with the samples of college students. It is also shown that each of the five decision making styles has a different distribution of risk attitudes, which is statistically verified. The results of this study make a meaningful addition to the literature of this kind by providing the rationale for understanding the decision making styles and the risk attitudes of the Korean adults, which may serve as grounds for predicting the behaviors of the key individuals in various public and private sectors.

기업의 동반성장 노력과 재무성과의 선후행 관계

민재형(Jae H. Min),김범석(Bumseok Kim) 한국경영과학회 2014 한국경영과학회지 Vol.39 No.2

The purpose of this study is two-fold : the one is to examine the causal relationship between domestic large firms’ win-win growth effort and their financial performance by fiscal years; and the other is to develop a quantitative win-win growth index to overcome the limitation of the current one mainly using a survey method developed by NCCP (National Commission for Corporate Partnership). To serve the first purpose, we take a sample of 128 large companies whose win-win growth indices as of year 2011 and 2012 were evaluated by NCCP. We use their respective fiscal year’s financial data to select 62 candidate financial ratios, which are then used in subsequent empirical tests. For the tests, we employ ordered probit model with stepwise selection method and two-way ANOVA with randomized block design to identify which of the 62 financial ratios are statistically significant ones to affect the firms’ win-win growth index as well as to determine if the firms’ win-win growth effort would cause their financial performance positively. To serve the second purpose, we devise a model using the 123 firms’ 45 financial ratios, which employs ordered probit model with stepwise selection, and the validation of the model follows. We claim that the model suggested in this study serve as an alternative complementing the current one as it can produce the index in a more objective and swift manner using the firms’ publicized financial statements.

기업의 환경, 사회, 지배구조 요인과 재무성과의 관계

민재형(Jae H. Min),김범석(Bumseok Kim),하승인(Seungyin Ha) 한국경영과학회 2015 經營 科學 Vol.32 No.1

We examine the relationship between firms" environmental (E), social (S), and governance (G) factors, with their financial performance in order to provide an empirical rationale for CSV (creating shared value) pursuing both of firms’ profitability and CSR (corporate social responsibility). The financial performance is classified into four aspects such as profitability, stability, efficiency, and cash-flow, and each of these aspects is measured by two financial ratios respectively. To measure the firms’ ESG performance, we employ the published performance grades by the Korea Corporate Governance Service for a three year span, from 2011 to 2013. Total of eight regression analyses are performed. The results show that firms" non-financial performance in general has statistically significant positive relationships with return on assets, return on net sales, and cash-flow from operating activities ratio, while it has negative relationships with net working capital ratio, asset turnover ratio, and cash-flow from investing activities ratio. It has no significant relationships with debt ratio and equity turnover ratio. The results imply that firms" non-financial performance may have a negative impact on some financial performance such as liquidity and efficiency in a short term, but it would eventually improve the firms’ profitability and cash-generating ability, which provides an empirical evidence for the concept of CSV, and motivates the firms to participate in social contribution activities without sacrificing their profitability for their respective sustainablity management.