사외이사 특성에 따른 이사회 독립성과 기업가치: 법적 최소기준을 반영한 이사회 구성의 시사점

임새훈(Lim, Sae-Hun),박영석(Park, Young-Seog) 한국경영교육학회 2020 경영교육연구 Vol.35 No.5

[연구목적] 본 연구는 사외이사 비율을 통해 기업 이사회의 독립성을 대리한 기존 연구를 확장하여 사외이사 수, 사외이사 재임기간 및 사외이사 선임에 관한 법적 최소기준까지를 분석에 활용하여 기업 가치에 미치는 영향을 분석함으로써 이사회 구성에 대한 시사점을 제공하고자 하였다. [연구방법] 본 연구는 사외이사 특성이 기업 가치에 미치는 영향을 검증하기 위해 2012년부터 2017년까지 유가증권시장에 상장된 3,861개의 기업-연도 표본을 대상으로 합동회귀모형(Pooled OLS Model)을 이용하여 분석을 실시하였다. [연구결과] 실증분석결과 사외이사 수, 사외이사 비율은 기업 가치에 유의한 양(+)의 영향을, 사외이사 재임기간은 유의한 음(-)의 영향을 각각 미치는 것으로 나타났다. 또한 표본을 사외이사 초과선임 여부를 기준으로 하위표본을 구성하여 분석한 결과, 법적 최소비율을 유지하면서 사외이사를 다수 선임한 경우에 주요 관심변수인 사외이사 특성을 활용하여 기업 가치를 제고할 수 있는 것으로 나타났다. [연구의 시사점] 본 연구는 이사회 독립성과 기업 가치에 대한 연구 분야의 확장에 기여하고 이사회 구성에 대한 시사점을 제공한다. 향후 국내 기업을 대상으로 한 관련 연구는 법적 최소기준을 반영한 분석이 이루어져야 할 것으로 보이고, 본 연구의 결과를 활용한 이사회를 구성함으로써 기업 가치를 제고할 수 있을 것으로 판단된다. [Purpose] This study aims to expand the existing research field related to the corporate boards independence by analyzing the impact of these on firm value by using the number and tenure of outside directors and legal minimum standards of appointing outside directors. [Methodology] In order to analyze the effect of the characteristics of outside directors on firm value, this study tested 3,861 firm-year samples listed on the KRX KOSPI market from 2012 to 2017 using a pooled OLS model. [Findings] Following our empirical results, it was found that the number and the ratio of outside directors had a significant positive(+) effect on the firm value, and their tenures has a significant negative(-) effect on the firm value, respectively. In addition, sub-sample(restructured by legal minimum appointment criteria) testing results was found that the firm value could be improved in case of a number of outside directors were appointed while maintaining the legal minimum appointing ratios by controlling each of our key variables. [Implications] This study contributes to the expansion of the research field on the boards independence and firm value. Moreover, provides implications for the composition of the boards. In the later, related study on domestic companies should be analyzed reflecting the legal minimum standards, and it is expected that firm value can be improved by constructing a boards using the empirical results of this study.

정신분열병에 대한 리스페리돈의 효과 및 안정성

이민수,김용구,김영훈,연병길,오병훈,윤도준,윤진상,이철,정희연,강병조,김광수,김동언,김명정,김상훈,김희철,나철,노승호,민경준,박기창,박두병,백기청,백인호,손봉기,손진욱,양병환,양창국,우행원,이정호,이종범,이홍식,임기영,전태연,정영조,정영철,정인과,정인원,지익성,채정호,한상익,한선호,한진희,서광윤 大韓神經精神醫學會 1998 신경정신의학 Vol.37 No.1

연구목적 : 본 시험의 목적은 임상시험 시작전에 연구자들을 대상으로 PANSS Workshop을 통하여 PANSS, ESRS에 대한 국내에서의 표준화 작업을 구축하고 새로운 정신병 치료제인 리스페리돈의 효과와 안정성을 재확인하여 리스페리돈 사용에 대한 적정화를 이루는데 있다. 연구방법 : 1996년 4월부터 1996년 9월까지 국내 39개 대학병원 정신과에 입원중인 혹은 증상이 악화되어 입원하는 정신분열병 환자 377명을 대상으로 다시설 개방 연구를 시행하였다. 1주일간의 약물 배설기간을 가진후, 리스페리돈을 8주간 투여하였고, 기준점, 1주, 2주, 4주, 그리고 8주후에 평가되었다. 용량은 제1일에는 리스페리돈 1mg씩 1일 2회, 제2일에는 2mg씩 1일 2회, 제3∼7일에는 3mg씩 1일 2회 투여하였다. 이후 환자의 임상상태에 따라 임의로 증량할 수 있으며, 최대 일일 16mg을 초과하지 않도록 하였다. 추체외로 증상을 조절하기 위한 투약을 허용하였다. 임상증상 및 부작용의 평가는 PANSS(Positive and Negative Syndrome Scale), CGI(Clinical Global Impression) 그리고 ESRS(Extrapyramidal Symptom Rating Scale)을 사용하였다. 연구결과 : 377명중 343명(91%)이 8주간의 연구를 완결하였다. 치료 종결시점인 8주후 PANSS 총점수가 20% 이상 호전된 경우를 약물 반응군으로 정의할때, 약물반응군은 81.3%였다. 리스페리돈에 반응하는 예측인자로는 발병연령, 이전의 입원 횟수, 유병기간이 관련 있었다. 리스페리돈은 1주후부터 PANSS양성, 음성, 및 일반정신병리 점수상에 유의한 호전을 보여 효과가 빨랐다. CGI의 경우도 기준점에 비해 1주후부터 유의한 감소를 나타내었다. ESRS의 경우, 파킨슨 평가점수는 기준점과 비교해 투여 1주, 2주, 4주후 유의하게 증가되었다가 8주후 기준점과 차이가 없었다. Dystonia 평가점수는 1주후만 유의한 증가를 보였으며, dyskinesia 평가점수는 유의한 차이가 없었다. 혈압, 맥박수의 생명징후 및 일반 혈액학 검사, 생화학적 검사, 심전도 검사에서 유의한 변화는 없었다. 결 론 : 이상의 다시설 개방 임상 연구를 통해 리스페리돈은 정신분열병 환자에서 양성증상뿐만 아니라 음성증상 및 전반적인 증상에도 효과적인 것으로 사료된다. 보다 명확한 평가를 위해서는 다른 항정신병약물과의 이중맹검 연구가 필요할 것으로 생각되며, 또한 장기적 치료에 대한 평가도 함께 이루어져야 하겠다. Objective : The purpose of this study was to investigate the efficacy and safety of risperidone in the treatment of Korean schizophrenic patients. Method : This multicenter open study included 377 schizophrenic patients drawn from 39 university hospitals. After a wash-out period of 1 week, the schizophrenic patients were treated with risperidone for 8 weeks and evaluated at 5 points ; at baseline, and 1, 2, 4 and 8 weeks of treatment. The dose was increased from 2mg/day(1mg twice daily) to 6mg/day(3mg twice daily) during the first week and adjusted to a maximum of 16mg/day over the next 7 weeks according to the patient's clinical response. Medication to control extrapyramidal symptoms was permitted. The psychiatric and neurological status of the patients was assessed by PANSS, CGI, and ESRS scales. Results : 343(91%) of 377 patients completed the 8-week trial period. Clinical improvement, as defined by a 20% or more reduction in total PANSS score at end point, was shown by 81.3% of patients. The predictors of response to risperidone were associated older age, shorter duration of illness, fewer previous hospitalization. Risperidone had rapid onset of action ; a significant decrease of the total PANSS and three PANSS factor(positive, negative, general), and CGI was already noticed at the end of first week. For the ESRS, parkinsonism rating scores were significantly increased until week 4 comparing with baseline. Dystonia rating scores were significantly increased until week 1, and dyskinesia rating scores were not significantly changed during the study. Laboratory parameters including vital sign, EKG, hematological, and biochemical values showed no significant changes during the trial. Conclusions : This study suggests that risperidone is generally safe and effective against both the positive and negative symptoms in our group of patients.

혼합액정(80CB+50CB)의 네마틱-스멕틱 A 상전이 근처의 네마틱상에서 휨 탄성상수(K₃)에 관한 광산란 실험연구

임동건,이민규,변영태,유영훈,김두철 濟州大學校 基礎科學硏究所 1990 基礎科學硏究 Vol.3 No.1

액정 8OCB(octyloxycyanobiphenyl)에 액정 5OCB(pentyloxycyanobiphenyl)를 무게비로 혼합하여 혼합액정 (8OCB+5OCB)을 만들었다. 이 혼합액정은 5OCB의 무게비에 따라 McMillan지수 (??)가 감소하였다. 그리고 Rayleigh 광산란 실험방법을 이용하여, 순수 8OCB와 혼합액정의 네마틱-스멕틱 A 상전이 근처의 네마틱상에서 산란된 빛의 세기를 온도와 함수로 측정하였다. 실험데이타 분석결과는 휨(bend) 탄성 상수에 비례하는 세로방향 상관거리(??)는 McMillan 지수에 관계없이 임계지수 ??=0.66±0.03을 갖고 발산하였다. 이 값은 de Gennes의 모델에서 제시된 ??=0.67과 일치함을 알수있다. By utilizing Rayleigh scattering technique, we have measured the temperature dependence of scattered light intensity near nematic to smectic-A phase transition point in the pure 8OCB(octyloxycyanobiphenyl) and its mixtures contaning 5, 10, 15 weight percentage of 5OCB(pentyloxycyanobiphenyl). From analysis of these data. it is found that the longitudinal correlation length (??) diverges with critical exponent ??=0.66±0.03 independent on McMillan parameter (??). This result is consistent with de Gennes model (??).

휴대용 근적외분광분석기를 이용한 유탕면의 수분 함량 측정 : Infrared(NIR) System

임현량,김도형,우영아,김효진 동덕여자대학교 종합약학연구소 2002 동덕약학연구지 Vol.6 No.-

This experiment was carried out to determine non-destructively water content in a intact fried noodle in oil by portable near-infrared system. Water content was ranged from 0 to 14.3w/w% and the near infrared (NIR) measurements were made on 70 intact samples over the spectral range 1100-1750nm. We found the variation of absorbance band due to OH vibration of water in the noodles depending on the concentration change around 1450nm in the second derivatives spectra. Partial least squares(PLS) regression models were set up using a calibration set(42 E.A.) and a validation set(28 E.A.) between the NIR response and value from loss on dry. Various pretreatments of the spectra were examined: the smallest stnadard error of prediction(0.35%) was obtained using autoscaling spectra over 1100-1700nm. 10 factors were required for the PLS model to give a good relationship between the spectral information and the noodle water content. In order to validate the developed calibration model, routine analyses were performed using other intact noodles. Water contents from the NIR calibration model were compared with the values from loss on dry and the results showed good correlation with those of loss on dry. This study showed that the rapid and non-destructive determination of water content in a intact fried noodle in oil was successfully performed by portable NIR system.

관상동맥 질환에서 도플러 심초음파도로 측정한 확장기 좌심실기능의 지표와 혈역학적 소견과의 비교 검토

임헌관,기신영,유창범,최태명,김성구,권영주 순천향의학연구소 1995 Journal of Soonchunhyang Medical Science Vol.1 No.1

Background : Left ventricular diastolic dysfunction is now recognized as a significant cause of cardiac symptoms even in patient with normal systolic ventricular function. During the last several years, the use of Doppler echocardiography for assessing left ventricular diastolic function has attracted increased attention. Doppler study have demonstrated that patients with ischemic heart disease have abnormal diastolic filling pattern suggesting impaired relaxation. Methods : This study was designed to correlate Doppler mitral flow velocity patterns and measuared variance with hemodynamic findings in 33 patients: 10 with myocardial infarction(group 1), 10 with angina pectoris(group 2) and 13 with no coronary disease(group 3). Results: 1. E/A ratio (0.87±0.24 m/sec versus 1.09±0.91 m/sec, P<0.05) was lower in group 1 than in group 3. 2. Significant correlation were demonstrated between pulmonary capillary wedge pressure (PCWP) and isovolumic relaxation time(IVRT) (r=-0.58; p<0.001), and E velocity (r=0.61; p<0.005). 3. IVRT was (61±30msec versus 92±35msec, p<0.05) shorter in patients with PCWP>10mmHg than in patients with PCWP≤10mmHg. Conclusion: Doppler mitral flow recordings have partially clinical potentiality in assessing left ventricalar diastolic function in patient with ischmic heart disease.

저크비용함수를 이용한 골프 숙련자와 초보자간의 퍼팅 동작 분석

임영태,최진승,한영민,김형식,이정한,전재훈,탁계래 한국운동역학회 2006 한국운동역학회지 Vol.16 No.1

척수강내 Bupivavacain에 첨가한 소량의 Neostigmin의 진통효과와 부작용

소금영,정종달,김병철,유벙식,안태훈,김훈정,임경준 조선대학교 2000 The Medical Journal of Chosun University Vol.25 No.2

Background : Spinal cholinergic receptor has been shown to have a antinociceptive action, an effect that can be mimicked by spinal cholinesterase inhibitor. Intrathecal injection of neostigmine cause analgesia and adverse effect in a dose-dependent pattern in the patients. The purpose of this study was to determine whether small doses of intrathecal neostigmine (10, 25 and 50 ㎍) produce analgesia and any side effects. Method : After getting informed consents, 60 patients scheduled for orthopedic surgery of lower extremities under spinal anesthesia were randomly assigned to one of four groups. Using dose-ranging design, patients received either normal saline or neostigmine l0, 25 or 50 ㎍ in a 1-㎎ solution of 5% glucose in normal saline with heavy bupivacaine 12 ㎎. Heart rate, blood pressure, degree of motor and sensory block were recorded. The assessment of postoperative analgesia included time to first rescue, total number of rescue medication and pain score on visual analog scale (VAS) at 1, 3, 6, 9, 12, 24 hour. Nausea and vomiting were assessed by using the visual analog scale at 24 hr postperatively and the incidence of them was recorded postoperatively. Result : There were no significant differences among the four groups in characteristics of spinal blocks. Compared to saline, neostigmine groups significantly prolonged time to first rescue medication and decreased total number of rescue medication and pain visual analog scale score, but incidence of nausea and 24hr nausea VAS score were not increased in neostigmine group compared to control group. Conclusion : These data in patients injected intrathecal neostigmine suggest that analgesia may occur at doses less than neostigmine 50 ㎍ and neostigmine 50㎍ has a better analgesia effect with fewer side effects than other doses for postoperative analgesia.

Mycoplasma Pneumoniae 폐렴 환아에서의 Polymerase Chain Reaction 법과 혈청학적 검사법의 상관성에 관한 연구

정용헌,임혜경 충남대학교 의과대학 지역사회의학연구소 1997 충남의대잡지 Vol.24 No.2

A study was done on 58 cases of children with pneumonia, admitted to the pediatric department of Chungnam National University Hospital during the period of 9 months from Feb. to Sept. 1997, in age between 2 years and 12 years, to confirm the correlation between mycoplasma antibody, cold agglutinin and PCR test. The results were as followings. 1. The total numbers of PCR positive to mycoplasma pneumoniae were 30 cases and those of PCR negative 28 cases. 2. In PCR positive group, distribution of cold agglutinin values over 1:64 and below 1:32 showed 56.7% and 43.4% in early stage, those values 94.5% and 5.6% respectively in later stage. Distribution of mycoplasma antibody over 1:160 shoved 60% and below 1:80 40% in early stage, 1005 and 0% in later stage. 3. In PCR negative group, cold agglutinin values showed wide ranges of 1:2 to over 1:64, mycoplasma antibody showed mostly below 1:40. 4. In PCR positive group, mycopasma antibody values were correlated with cold agglutinin value in later stage It's concluded that PCR test in highly correlated with mycoplasma antibody test.

극단 저체중 신생아에서의 동맥관 개존증 결찰술을 위한 진정맥 마취 경험 2례

최영균,고명진,이상은,조광래,김영환,임세훈,이정한,이근무,정순호,김영재,신치만 仁濟大學校 白病院 2010 仁濟醫學 Vol.31 No.-

Running title: Cases of anesthesia for extremely low birth weight infant. Extremely low birth weight infants (birth weight < 1000 g) are prone to various morbidities such as respiratory distress syndrome, intraventricular hemorrhage, periventricular leukomalacia, patent ductus arteriosus, necrotizing enterocolitis and retinopathy. To accomplish successful anesthetic management, many precautions must be continuously taken during the operation. First, inspired oxygen concentration should be adjusted to avoid oxygen toxicity. Second, body temperature must be maintained adequately. Third, hemodynamic parameters should be kept stable. We report 2 cases of successful anesthetic management for extremely low birth weight infant who underwent ligation of patent ductus arteriosus at the neonatal intensive care unit.

생쥐 위장관의 Interstitial cells of Cajal(ICC)에 대한 면역조직화학적 연구

김영철,차경훈,신무경,임건한,김주영,안병수,김장만,양경철,박도영,오재욱,장인엽 조선대학교 2003 The Medical Journal of Chosun University Vol.28 No.1

Background and Objectives : Interstitial cells of Cajal(ICC) are the pacemakers in gastrointestinal tract that modulates gastrointestinal motiliey and these cells also transmit neural input from enteric nerves to smooth muscles. Recent work on tissues from patients with motility disorders that suggest that loss or defect in ICC could be related to pathophysiology in human and animal models. Immunolabelling of ICC in intestinal wall is recently developed by using specific marker, anti-c-kit antibody. Immunohistochemistry was done for ICC network in attempt to provide a morphological basis for the mechanism regulating gastrointestinal motility Methods : Cryosection was done, and whole-mount preparations of mouse stomach, gastrointestinal tract were immunolabelled using the anti-c-Kit. Immunolabelled ICC networks were observed under a confocal laser scanning microscopy. Results : According to three dimensional reconstruction study, we found that the c-Kit-positive celluar networks were widely distributed in the gastrointestinal muscle (1) circular muscle layer(IC-IM), (2) myenteric plexus(IC-MY), (3) deep muscular plexus(IC-DMP) in ileum, (4) submucosal plexus(IC-SMP) and longitudinal muscle layer(IC-LM) in colon. Conclusion : The characteristic profiles of ICC celluar networks provide a morphological basis upon the mechanism regulating gastrointestinal motility. Additional studies for the enteric nerves-ICC interaction are need to evaluate the detailed roles of Icc in gastrointestinal tract.