• Journal of Families and Better Life
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• v.22 no.3
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• pp.11-21
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• 2004

This study examined factors associated with the ownership of stock investments and the amount of stock investments of households using the 2001 National Survey of Family Income and Expenditure by National Statistical Office. Households with large amounts of income, savings, and liabilities were more likely to invest in stocks and have large amounts of stock investments. Also, households with young and male householders, highly educated householders, a number of children in school, and housing ownership were more likely to invest in stocks and have large amounts of stock investments. On the other hand, self employed households and dual income households were less likely to invest in stocks and have small amounts of stock investments.

• The Journal of the Korea Contents Association
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• v.17 no.5
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• pp.285-304
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• 2017

This paper introduces household's decision for schooling and firm's decision for technology-specific training together into the second generation model of endogenous innovation, and analyses how schooling and technology-specific training interact each other, how they respectively affect innovation and economic growth, and also how the portfolio mix of schooling and technology-specific training changes as economy becomes more innovative. Main results are as follows: First, schooling and technology-specific training both have "inverted-U"shape growth effects. Second, schooling investment per labor required for growth maximization is always greater than that for firm profit maximization. Third, the optimal schooling for growth maximization decreases with technology-specific training. Fourth, the schooling effect on technology-specific training is "U"shaped, so that for firm's profit maximization schooling is substitutable for technology-specific training at the relatively lower level of schooling but complementary at its relatively higher level. Fifth, as economy becomes more innovative, the portfolio mix of education changes in favor of schooling.

• Korean Journal of Construction Engineering and Management
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• v.14 no.3
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• pp.3-11
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• 2013

The changes in construction business have impact on overall operation of construction companies. Poor business of construction companies following a s low industrial cycle could have broader implications and influences on the industry. Since a construction project involves various stakeholders including public organizations, financial institutions and households, a downturn in construction industry might lead to significant economic loss. In this regard, it is meaningful to examine the relationship between changes in construction business cycles and insolvency of construction companies. This study conducts an empirical analysis of the relationship between construction business cycles and how much they affect operation of construction companies. To this end, KMV model was used to estimate probability of bankruptcy, which represents business condition of a construction company. To examine construction business cycles, investment amount for different construction types-residential, non-residential, and construction work-was used as a variable. Based on the investment amount, VECM was applied and the analysis results suggested that construction companies should put priority on diversifying project portfolio. In addition, it was shown that once a construction company becomes unstable in business operation, it is hard to recover even when the market condition turns for the better. This suggests that, to improve business operation of a construction company, internal capacity-building is as important as the market condition and other external circumstances.