• International Area Studies Review
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• v.22 no.4
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• pp.55-75
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• 2018

In China, different from the private enterprises or the locally-administered state enterprises, central state-owned enterprises generally spread over cornerstone industry which is greatly influenced by the public policy, which results in the objective existence of government influence in their productive activities. As the strategic resource, listed companies controlled by central state-owned enterprises, mostly distributed in the lifeblood and security of key industries. Therefore, listed companies controlled by central state-owned enterprises' governance efficiency play an important role in optimal allocation of state-owned assets, improve capital operation, improve the return on capital, and maintain state-owned assets safety. As the immune systems of national governance, the government audit strengthen the supervision of listed companies controlled by central state-owned enterprises in case of the loss of state-owned assets and significant risk events occur, to ensure that the value of state-owned assets. As an important component of national governance, government audit produced in entrusted with the economic responsibility of public relationship. Government audit can play an important role in maintaining financial security and corruption, and also improve listed company's accounting stability and transparency. While government audit can improve governance efficiency and maintain state-owned assets safety, present literature is scarce. Under the corporate governance theory and the economical responsibility theory, the thesis select data from 2010-2017 to verify the relationship between government audit and listed companies controlled by central state-owned enterprises' corporate performance. Results show that listed companies controlled by central state-owned enterprises are more likely to be audited by government of poor performance. Results also show that the government audit will have a promoting effect on listed companies controlled by central state-owned enterprises, and through to the improvement of the governance efficiency will enhance its companies' value. The results show that China's government audit has appealing role in accomplishing central state-owned enterprises to realize the business objectives and in promoting the governance efficiency.

• Journal of Technology Innovation
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• v.28 no.2
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• pp.63-100
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• 2020

This study analyzes the effectiveness of government supported R&D program for SMEs by measuring TFP improvements. We estimate TFP for Korean companies from 2011 to 2018 using Levinsohn and Petrin (2003) method which reduces endogenous problem. Then government R&D beneficiary companies were extracted from the NTIS and linked to TFP estimates. The empirical results are as follows. First, as a result of estimating production function, the contribution of TFP to value-added is more important than in the past. Second, the TFP gap between large firms and SMEs continues to wide and there is no sign of easing.(from 3.72 times in 2011 to 5.23 times in 2018). Third, SMEs beneficiaries show higher TFP level than non-beneficiaries. However their TFP was on the decline until government support. After government supported R&D program, it reverses upward. Fourth, although one-year TFP improvement of beneficiaries is bigger than non-beneficiaries, it is smaller than the control group through PSME. Because SMEs participating in government R&D programs had showed downward trend of TFP until R&D program, it is necessary to examine whether there is a fundamental discordance between the demand of SMEs for R&D program and governments policy goal. More sophisticated program design will be required to escape the recognition that government R&D programs for SMEs are just charity.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.9 no.3
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• pp.129-138
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• 2014

After global economic crisis, China has become one of the two pillars in the global economies and the country contributing to the Korean economy. Nevertheless, the research on Chinese financial market, particularly capital market, is rare to date. This study examined the growth enterprise market that emergedat the Shenzhen stock exchange and made comparative analysis on before and after listing for the Chinese small and medium sized firms and venture firms. The listing requirements at the Chinese growth enterprise market for the technologically innovative venture firms and fast-growing small and medium sized firms with financing purpose were more alleviated than the main board of Shenzhen stock exchange. Moreover, the listing procedures are simplified as well. Accordingly, many Chinese enterprises tend to list and the competition for listing is also intense. In particular, with the 36 initially listed firms at growth enterprise market as the research target, the investigation for the business performance before and after listing reveals that the three indexes including return on common equity, debt ratio and operating profit growth rate dropped dramatically for most all the firms. That is, the profitability and growth for the venture firms and small and medium sized firms listed on the Chinese growth enterprise market decreased rapidly after going public, only the stability improved due to the great financing. Taking a step forward, this phenomenon may result from the exaggerated reporting for the business performance before listing with the purpose of going public by the venture firms and small and medium sized firms. Thus, Chinese Securities Regulatory Commission should strengthen the accounting evaluation standard and regulation for the listing firms before going public. In addition, strict sanctions should be imposed on the firms with fraudulent accounting to establish healthy capital market.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.22 no.6
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• pp.43-49
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• 2021

During the Japanese colonial period in Korea, the Choson Governor-General was a kind of state organ. At that time, for a local administrative office to be built, each province('Do') had to go through a certain administrative procedure and be approved by the Choson Government-General. In addition, it was necessary to receive financial support from the Choson Governor-General in the name of "state assistance" because the financial conditions of each province were not sufficient. To obtain this approval and financial support, the administrative procedure was divided into the first half, where each province requested the construction of a local administrative office, and the second half, where the Choson government-general approved it and supported it financially. There are studies on the first half procedure in 1914 and 1927, which were limited to the new construction of county('Goon') offices among several local administrative offices. This study analyzed the first half of the construction of all local administrative offices in the 1930s.

• Journal of Technology Innovation
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• v.31 no.1
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• pp.105-148
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• 2023

This paper provides a new method of measuring the degree of technological progress which contributes to real economic growth based on Schumpeter's Trilogy. Using Microdata of Statistics Korea, the results of measuring and comparing the actual growth contribution of technological progress during the period 2003-2018 by the total factor productivity growth rate(growth accounting method), the R&D investment contribution rate, and the Schumpeterian innovation growth rate, respectively are as follows. First, the measurement of the real growth contribution of technological progress by the growth rate of total factor productivity and the growth rate of Schumpeterian innovation shows contradictory results. Second, when the growth rate of production is in a decreasing trend, the difference between the growth rate of production and the growth rate of total factor productivity increases compared to when it is in an increasing trend. Conversely, when there is an increasing trend, the difference between the growth rate of production and the growth rate of total factor productivity becomes smaller compared to when it is in a decreasing trend.. Third, the technological opportunity that affects the innovation growth rate, i.e., the contribution of R&D incentives to innovative growth is only 3.3%. The reason why this result is different from the existing perception of the contribution of technological progress to growth is that different entities are being measured while measuring the same term of technological progress. Therefore, the growth rate of total factor productivity should be used to measure macroeconomic efficiency, R&D investment should be used to measure the effectiveness of new technology supply, and the Schumpeterian innovation rate should be used to measure the economic impact of technological progress. The policy implications of the research results of this thesis are as follows: ① Transition from a policy of one-sided technology supply to a policy of convergence of technology supply and new technology demand support, ② Mission-oriented R&D policy and R&D policy that links national R&D with private R&D, ③ Reclassification of capital goods reflecting the degree of new knowledge.

• Proceedings of the Korea Water Resources Association Conference
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• 2011.05a
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• pp.106-106
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• 2011

소수력은 온실가스 배출량이 적은 친환경 청정에너지원이면서 지역의 분산전원에 기여할 수 있는 유용한 자원으로 평가되고 있다. 이러한 여건은 소수력발전 사업이 전력의 smart grid 구축 효과로 인해 가장 큰 효율성을 달성할 수 있을 것으로 기대된다. 국내 소수력발전은 1500Mw의 부존량을 가진 것으로 평가되고 있으나 계절적 편중으로 인한 가동률 부족, 경제성 부족 등으로 활발한 보급이 이루어지지 않고 있다. 특히 신재생에너지 확대 전략에도 불구하고 지원금 등 경제적 인센티브 부족으로 인해 민간부문의 참여는 상당히 저조하다. 그럼에도 불구하고 수력에너지는 환경친화적이고 잠재성이 큰 신재생에너지로 온실가스 저감과 에너지 확보에 기여할 수 있다. 특히 수력에너지는 민간투자의 어려움이 존재하므로 정부의 장기적인 기술개발투자 및 효율성 확대 정책이 중요하다. 본 연구에서는 소수력 확대의 경제 환경적 효과를 평가해보기 위해 연산일반균형모형 (CGE :Computable General Equilibrium Model)을 구축한다. 본 연구는 다음과 같이 수행되었다. 첫째, 수력발전부문과 수도사업을 구분하고 사회회계행렬을 작성하였으며, 전력부문에서 수력발전을 포함한 다단계 생산구조를 가정하였다. 둘째, 일반균형모형 방정식 체계를 작성하고 모형의 파라미터 추정 등 보정(Calibration) 작업을 수행하였다. 셋째, 국가 중기 온실가스저감 시나리오를 적용한 전망을 수행하고 소수력 확대(투자지원) 시나리오를 구축한다. 본 연구는 저감수단으로 탄소세를 부과하였다. 끝으로, 소수력 발전 보급 확대의 경제적, 환경적 파급효과를 계산하였다. 분석결과, 소수력 발전 잠재 성장을 반영한 수력에너지 비중은 약 2020년에 약 4.5% 까지 증가하는 것으로 나타났다. 이로 인한 온실가스 저감 기여분은 약 3%에 이르는 것으로 계산 되었다. 또한 수도사업과 비에너지 제조업의 산업비중은 증가하였다. 이러한 결과는 소수력 발전 확대가 화석연료 대체를 통한 지속가능한 에너지 수요에 기여하고 지역개발과 물산업 발전 등 경제적 파급효과 등을 유발할 수 있음을 시사한다. 또한 본 연구에서 고려하지 못한 소수력 기술 개발은 에너지 대체 촉진으로 인한 온실가스 저감과 녹색성장에 기여할 것이다.

• Journal of Practical Engineering Education
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• v.12 no.1
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• pp.187-202
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• 2020

Can job training be considered a social right? Who must bear the costs of individual job training? This paper studies these two issues by examining the Korean Individual Learning Accounts (ILA) revised in 2020 and proposes future policy directions. Although there is no explicit legal provision stipulating job training as a lawful right in Korea, such absence does not negate the government's role of providing vulnerable people, etc with necessary training. Korean ILA heavily depends on the Skills Development Scheme under the Employment Insurance System which succeeded the past mandatory training levy system and it becomes harder to maintain principle of insurance because of sizable volume of atypical workers who are not insured. For future policy directions, it is desirable to increase the burden of general budget and self-financing as they are below 30% combined and the coverage of the ILA needs to be steadily expanded to all economically active people. Also, labor-management should step up joint efforts to stimulate the use of already existing policies such as paid training leave and request for reduction of working hours.

• Journal of the Society of Disaster Information
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• v.11 no.1
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• pp.121-133
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• 2015

A classical commercial insurance, which is used widely as the risk management methods for risk transferring and risk financing, includes the factors of interests, gambling and uncertainty, In 1985 Islamic Fiqc Academy declared that the classical commercial insurance violates the Islamic fundamental principles and beliefs, alteratively recommending a mutual insurance and takaful. A basic principle of takaful is the mutual aid in the Islamic community. On the basis of mutual aid, takaful participants (insurance policyholder) establishes the takaful fund, which is cooperation fund by participant contribution. Takaful fund is separated from shareholders' fund, and the profit and loss of takaful fund are responsible for takaful policyholder. Ownership and operation right of takaful belong to the takaful participants. In takaful, takaful company takes a role of agent or management operator. Comparing to the classical insurance, takaful has the rights of profit dividend, voting of executives, access to accounting books etc. which are additional favors for business company or individuals as takaful participants. Business companies and individuals should consider to use takaful to transfer risk and to enjoy takaful's additional advantages.

• Journal of Convergence for Information Technology
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• v.11 no.4
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• pp.102-110
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• 2021

In this study, a related literature study was conducted to diagnose the status of overseas field practice and overseas employment programs, and a questionnaire was constructed and analyzed according to the CIPP model, and policy suggestions to promote effective overseas advancement programs in the future are presented. As a major result, it was investigated that in order to increase the satisfaction level of participants, it is necessary to have strong willingness to participate and to clearly set the goal of the overseas field practice and overseas employment program. In addition, it was analyzed that a system that can guarantee continuous support, such as local business trips and maintenance of relationships with companies, should be established even after successful overseas field practice and overseas employment. This study presents implications that may be helpful in establishing overseas field practice and overseas employment program policies of the national government, university, and local governments by confirming the positive effects and problems of current overseas field practice and overseas employment programs.

• The Journal of the Convergence on Culture Technology
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• v.9 no.5
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• pp.721-727
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• 2023

To prevent corruption, waste, and abuse in national governance, audit agencies are established and granted significant authority and responsibilities, including ensuring their independence. However, questions have been raised about who oversees these agencies and addresses issues or misconduct that may arise within them. In the United States, to address this oversight concern, the Inspector General Act was enacted, creating an audit community called the Inspector General Community. This community comprises various audit agencies and promotes compliance with standards and investigates potential wrongdoing by audit personnel. It fosters a culture of independence and collaboration among diverse stakeholders, such as Congress, the President, the Government Accountability Office, and agency leadership. In light of this successful approach in the United States, this research seeks to study and apply similar oversight mechanisms to audit agencies in South Korea. There is a need to develop the relationship between oversight bodies and parliament in terms of improving the efficiency and effectiveness of government operations. Accordingly, this paper studies this American case and presents efficient policy measures for the supervisory system to be applied to Korea's audit organizations. It aims to identify policy insights for effective supervision, ensuring independence, and fostering a collaborative culture within our audit institutions. Therefore, domestic interest and research on this matter are essential to enhance our audit mechanisms and achieve efficient governance.