• The Journal of Society for e-Business Studies
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• v.22 no.2
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• pp.153-168
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• 2017

Recent studies focus on the role of investor attention and transparency in stock-related information in explaining stock return and trading volume. Moreover, recent literatures predict that firm opacity will increase the likelihood of future stock price crashes. In this paper, we investigate, using Naver Trend, the relation between portal search intensity and stock price crash. Using various alternative measures of stock price crash risk and search intensity, we demonstrate that stocks with larger volume of portal search are less likely to experience stock price crashes. These results are consistent with our hypothesis that accumulated firm opacity cause future stock price crash. Finally, our results still hold even after we control for the potential effect of endogeneity in the regression specifications.

• International Area Studies Review
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• v.21 no.4
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• pp.65-83
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• 2017

As Global value chain(GVC) is deepening, the importance of intermediated good trade is growing in international trade issues. Such facts lead to much discussions about the relation between Global Outsourcing and pollution. This study analyzed the effect of Global outsourcing on Environment using the data including 21 industries for 2004-14. $CO_2$ intensity is used as a proxy for the environment variable and to measure Global outsourcing and I employed the method suggested by Feenstra and Hanson(1999), Amiti and Wei(2006). To examine the effect Global outsourcing on the Environment more precisely, this paper controlled the factors that can affect the environment level on the basis of the theory suggested by Copeland and Taylor(1994). In the methodology, System GMM is employed to solve endogenous problem. The results show that for overall industries, Global outsourcing effect cannot be identified and for polluting industries, the result is identical. However, Global outsourcing has a negative effect on the pollution level for China and developing countries. In other words, as Global outsourcing is increasing, the national pollution level is decreasing.

• KDI Journal of Economic Policy
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• v.36 no.4
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• pp.135-169
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• 2014

This study empirically analyzes changes in production patterns of farmers by agricultural disaster insurance. The aim of this project is to achieve stability of farm management by paying insurance in case of a natural disaster. However, it causes farmers to change production patterns in the direction of increasing production, and leads the crop price to drop. This can be explained by producers' risk reduction through the disaster insurance. The empirical analysis is based on IV approach with using two stage least squares method. The first stage estimates by difference-in-differences methodology indicate that the production of insurable crops increases more about 80,000ton on average than that of non-insurable crops. In addition, to solve the endogeneity problem caused by general supply and demand model, I use the first stage estimates and find that the price index of the crops drops about 2.3% according to the production increase by 10,000ton. The credibility of these results is also attained by various robustness checks. These findings suggest that it is necessary for government to analyze the whole economy which consists of producer and consumer welfare when it determines the policy. Besides, it implies that it is essential to develop a new market to cope with the unintended effect.

• Journal of Energy Engineering
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• v.22 no.3
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• pp.245-249
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• 2013

This paper attempts to estimate the kerosene demand function in Korea over the period 1981-2012. As the kerosene demand function provides us information on the pattern of consumer's kerosene consumption, it can be usefully utilized in predicting the impact of policy variables such as kerosene price and forecasting the demand for kerosene. We apply least absolute deviations and least median squares estimation methods as a robust approach to estimating the parameters of the kerosene demand function. The results show that short-run price and income elasticities of the kerosene demand are estimated to be -0.468 and 0.409, respectively. They are statisitically significant at the 1% level. The short-run price and income elasticities portray that demand for kerosene is price- and income-inelastic. This implies that the kerosene is indispensable goods to human-being's life, thus the kerosene demand would not be promptly adjusted to responding to price and/or income change. However, long-run price and income elasticities reveal that the demand for kerosene is price- and income-elastic in the long-run.

• Journal of dental hygiene science
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• v.13 no.3
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• pp.254-263
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• 2013

This study is to develop an evaluation index for infection control and to verify its validity by examining each set of weighted data collected from 121 infection control personnel at dental hospitals who agreed to the preliminary survey and advisory. The study was conducted from 14th December, 2010 to 31st January, 2011, and PASW Statistics 18.0 and AMOS 5.0 had been used for the statistical data analysis. As a result of the study, five evaluation factors with 21 sub-indicators have been identified at structural level, eight evaluation factors with 32 sub-indicators at processing level, and one evaluation fact with five sub-indicators at resulting level, total 14 evaluation factors with 58 sub-indicators throughout all levels. The path analysis added on the result that 'standard precautions ($x_1$)', 'infection control support system ($x_2$)', 'internal and external characteristics ($x_3$)' are exogenous variables that affect on other variables, and 'standard infection control ($y_1$)','Organization equipment management handwashing ($y_2$)', 'environmental infection control ($y_3$), 'personal protective equipment ($y_4$)', 'waste and laundry management ($y_5$)' are endogenous variables that are infulenced by others. The standardized metrics are more needed than anything else when examining on infection control. This study attempts to develop proper dental infection control metrics adequately adjusted for domestic circumstances, and therefore to contribute to effective systematic management and decision-making in infection control.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.9 no.6
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• pp.129-144
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• 2014

This study is to examine the effect of mutualistic benevolence, altruistic benevolence, and communication on affective commitment, calculative commitment, and switching intentions and investigate how two commitment dimensions play mediating roles between two benevolence constructs and communication, and switching intentions. For these purposes the author developed a structural model which consists of several constructs. In this model, benevolence factor that consists of mutualistic benevolence and altruistic benevolence, and communication were proposed to affect two commitment constructs and result in, increase switching intentions. Thus, two commitment constructs(e.g., affective and calculative commitment) were proposed as core mediating variables between mutualistic benevolence, altruistic benevolence, and communication, and switching intentions. The data were collected from 210 automobile parts buyers and were analyzed using frequency, reliability, and confirmatory factor analysis and SEM (structural equation model) with SPSS/WIN 20.0 and AMOS 20.0. The data were analyzed with structural equation modeling with AMOS 20.0 and SPSS Win/PC 20.0. The result of the overall model analysis appeared as follows: ${\chi}2=224.885$, d.f=123(${\chi}2/df=1.828$), p=0.000, GFI=.898, AGFI=.859, IFI=.967, NFI=.930, TLI=.958, RMSEA=.063, CFI=.966. Since the result of the overall model analysis demonstrated a good fit, we could further analyze our data. The findings can be summarized as follows: According to structural equation modeling analysis, firstly, mutualistic benevolence has direct effects on calculate commitment and affective commitment. Secondly, altruistic benevolence has a positively direct effect on calculate commitment. Thirdly, communication has a statistically direct effect on affective commitment. Fourthly, calculative commitment has direct effects on affective commitment and switching intentions. Lastly, affective commitment has a direct effect on switching intentions.

• Environmental and Resource Economics Review
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• v.16 no.1
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• pp.27-63
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• 2007

Using the CGE model, this paper investigates economic impacts of a shortage in crude oil resulting from voluntary export restraints, OPEC's agreement of a cut in oil production, and/or a storing on speculation. Unlike most previous studies considering oil price as the unpredictable variable, this study constructs the model to determine the oil price endogenously under the condition of an insufficient supply of crude oil. According to IEA's extraordinary steps for a shortage of crude oil, we investigate an economic impact of 7~12% shortage below the level of business as usual. The results show that oil price soars by 17.3~33.5%, the rate of economic growth falls by 0.52~0.96%p, and the consumer price index(CPI) rises by 0.8~1.51%p. These results imply that increasing in 1%p of oil price results in decreasing in 0.03%p of economic growth and increasing in 0.045%p of consumer price index. The production of electricity declines because of the increase in production cost. A shortage of crude oil has an effect on sources of electricity. Most reduction in electricity generation occurs from the reduction in the thermal power generation which is highly dependent on crude oil. The shortage of crude oil causes demand for petroleum to significantly decline but demand for coal and heat to increase because of the substitution effect with petroleum. Demand for gas rise in the first year but falls from the second year.

• Journal of Technology Innovation
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• v.17 no.1
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• pp.119-148
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• 2009

The paper presents and empirically tests a model of the digital contents(DC) innovation systems that enables us to study interactions between users, service providers, contents developers and network providers, and to examine the relationship between manufacturing innovation and service innovation as well as patterns of innovation in the DC industry. The framework of Gallouj and Weinstein(1997) and Gallouj(2002) is modified into the DC innovation model according to characteristics of the DC industry, that is, user involvement and network externalities. The model is applied to a case analysis that traces the growth of the online game industry in Korea since its introduction. The model offers several advantages over other approaches in understanding the dynamics in the DC industry. Most importantly, it provides a single unified basis within which both service innovation resulting from users and service providers and manufacturing innovation induced by contents developers, platform holders and network providers are analyzed. The distinction between service and manufacturing innovation is important in many ways, for instance in selecting proper government policy tools for promotion or regulation of the DC industry. Second, the Korean online game industry has experienced both radical innovation during the beginning period and non-radical innovation throughout the maturation period. The model developed herein helps to illustrate several types of non-radical innovations such as recombinative innovation that are crucial to sustainable development of the DC industry. Third, the model clarifies impacts of network externalities that are characteristics of the DC industry.

• Journal of Korean Society of Transportation
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• v.27 no.1
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• pp.129-141
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• 2009

Intermodal freight transportation is defined as the movement of freight from origins to destinations by two or more transportation modes. When implemented in hub networks, it could enhance the efficiency of the networks because consolidated flows are transported by more suitable modes and technologies. In spite of this advantage, the intermodal hub network design problem has received limited attention in the literature partly because of the complex nature of the problem. This paper aims to develop an optimization model for designing intermodal hub networks with sin91e allocation strategy. The model takes into account various cost components of intermodal hub networks including transportation, stationary inventory, and service delay costs. Moreover, using transport frequency variables, it is capable of endogenously determining the transportation economies of scale achieved by consolidation of flows. As such, the model is able to realistically represent the characteristics of intermodal hub networks in practice. Since the model Is a complicated nonlinear integer programming problem, we perform model simplification based on the analytical study of the model, which could facilitate the development of solution algorithms in the future. We expect that this study contributes to the design of intermodal hub networks as well as to the assessment of existing logistics systems.

• Journal of Digital Convergence
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• v.16 no.1
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• pp.357-369
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• 2018

This study is to determine health related to Quality of Life(QOL) of married immigrant women in multicultural families, factors of predictors, and influence of these factors to develop and verify the structural model for development of an effective nursing mediation strategy for improved QOL. The participants were 254 women who immigrated to Korea for marriage. The hypothetical model is based on the health improvement model by Pender. Immigrant women's perceived barriers, perceived benefits, self-esteem, and perceived health had an impact on their health promotion behavior(HPB). These variables explained 55.2% of the QOL regarding health, and perceived health conditions, self-efficacy, self-worth, and level of cultural adaptation explained 29.3% of acts towards improving health. The results of this study suggest that development of efficient policy considering factors affecting health related to QOL of married immigrant women in multicultural families.