• Title/Summary/Keyword: 산업별분석

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The Role of ICT on Productivity Growth in Service Industry (서비스산업의 생산성 분석 - 정보통신기술 이용 현황을 중심으로 -)

  • Kim, Nam-Hee;Kim, Gi-Hong
    • Journal of Digital Convergence
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    • v.8 no.2
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    • pp.13-28
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    • 2010
  • Korean service industry has been rapidly growing so far and economic trends in korea is shifting to service economy. However Information Communication Technology (ICT) investment and use in service sector are still relatively low in comparison with US. Keeping the current state of the service industry in mind, this paper is to review the potential productivity growth of service industry empirically by analyzing the effect of ICT on total factor productivity after investing the ICT using outlook of Korean service industry. The results show that service sectors, with more using ICT, show high productivity growth and stable TFP change during the financial period. Sectors with lower using ICT are more sensitive to changes in the business environment when compare to sectors with highly using ICT. Concerning the period of 1997-1999, the TFP growth of most of sectors slowed down and turned to recovery immediately afterwards, 2000-2002.

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자기자본비용의 추정에 관한 연구 - 규모와 장부가/시장가 요인을 고려한 실증분석 -

  • Song, Yeong-Chul;Lee, Jin-Geun
    • The Korean Journal of Financial Management
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    • v.14 no.3
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    • pp.157-181
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    • 1997
  • 본 연구에서는 우리나라 증시에서 베타 이외에 규모와 장부가/시장가 비율이 수익률의 차이를 설명하는데 유용한가를 실증하고 이를 토대로 13개 산업에 대하여 자본비용을 추정하였다. 1980년에서 1995년 사이의 기간에 대하여 실증한 결과, 우리나라 증시에서 규모요인은 시장위험이 설명하지 못하는 수익률 차이 부분을 상당히 설명하고 있었으나 장부가/시장가 비율은 추가적인 설명력을 보이지 못하였다. 산업별 자본비용을 추정한 결과는 만족스럽지 못하였다. 우선 해당기간 동안에 시장프레미엄이 연 1.33%로 지나치게 낮게 측정되었으며 표준오차는 연 5.85%로 매우 크게 나왔다. 회귀계수의 표준오차를 줄이기 위하여 rolling 회귀분석의 방법을 사용하였지만, 3요인 모형에서 시장위험계수(베타)에 대한 표준오차만 줄어들었을 뿐 나머지 계수들의 표준오차는 오히려 증가하였다. 회귀계수가 지니는 불확실성이 위험프레미엄의 불확실성과 결합되어서 산업별 자본비용에 대한 추정은 매우 부정확하였다.

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Exploration of new innovation strategies for the post catching-up : Co-ordination between learning process and R&D (탈추격(post catching-up) 단계의 새로운 기술혁신정책의 모색: 학습과정(learning process)과 R&D의 조응(co-ordination))

  • Hwang, Gyu-Hui
    • Proceedings of the Korea Technology Innovation Society Conference
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    • 2012.05a
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    • pp.207-225
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    • 2012
  • 한국이 탈추격에 진입하였으며 이에 대응한 새로운 기술혁신전략이 필요하다고 제기되고 있는데, 본 연구에서는 이를 산업연관표에 기반한 산업별 생산방식 변화 등의 분석을 통하여 확인하며, 산업별 인력 구성의 변화를 중심으로 새로운 기술혁신전략을 모색하였다. 인력양성과 활용의 측면을 중심으로 한 학습과정(leaning process)이 R&D 등 혁신노력과 성공적으로 조응될 때 기대한 혁신성과가 실현될 수 있음을, 28산업분류 수준에서 대학 전공의 일에서의 유용성과 R&D투입간 조응성을 통하여 분석하고, 이러한 사항이 국가수준의 혁신정책에 통합되어야 함을 제시하였다.

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A Study on Industry-specific Sustainability Strategy: Analyzing ESG Reports and News Articles (산업별 지속가능경영 전략 고찰: ESG 보고서와 뉴스 기사를 중심으로)

  • WonHee Kim;YoungOk Kwon
    • Journal of Intelligence and Information Systems
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    • v.29 no.3
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    • pp.287-316
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    • 2023
  • As global energy crisis and the COVID-19 pandemic have emerged as social issues, there is a growing demand for companies to move away from profit-centric business models and embrace sustainable management that balances environmental, social, and governance (ESG) factors. ESG activities of companies vary across industries, and industry-specific weights are applied in ESG evaluations. Therefore, it is important to develop strategic management approaches that reflect the characteristics of each industry and the importance of each ESG factor. Additionally, with the stance of strengthened focus on ESG disclosures, specific guidelines are needed to identify and report on sustainable management activities of domestic companies. To understand corporate sustainability strategies, analyzing ESG reports and news articles by industry can help identify strategic characteristics in specific industries. However, each company has its own unique strategies and report structures, making it difficult to grasp detailed trends or action items. In our study, we analyzed ESG reports (2019-2021) and news articles (2019-2022) of six companies in the 'Finance,' 'Manufacturing,' and 'IT' sectors to examine the sustainability strategies of leading domestic ESG companies. Text mining techniques such as keyword frequency analysis and topic modeling were applied to identify industry-specific, ESG element-specific management strategies and issues. The analysis revealed that in the 'Finance' sector, customer-centric management strategies and efforts to promote an inclusive culture within and outside the company were prominent. Strategies addressing climate change, such as carbon neutrality and expanding green finance, were also emphasized. In the 'Manufacturing' sector, the focus was on creating sustainable communities through occupational health and safety issues, sustainable supply chain management, low-carbon technology development, and eco-friendly investments to achieve carbon neutrality. In the 'IT' sector, there was a tendency to focus on technological innovation and digital responsibility to enhance social value through technology. Furthermore, the key issues identified in the ESG factors were as follows: under the 'Environmental' element, issues such as greenhouse gas and carbon emission management, industry-specific eco-friendly activities, and green partnerships were identified. Under the 'Social' element, key issues included social contribution activities through stakeholder engagement, supporting the growth and coexistence of members and partner companies, and enhancing customer value through stable service provision. Under the 'Governance' element, key issues were identified as strengthening board independence through the appointment of outside directors, risk management and communication for sustainable growth, and establishing transparent governance structures. The exploration of the relationship between ESG disclosures in reports and ESG issues in news articles revealed that the sustainability strategies disclosed in reports were aligned with the issues related to ESG disclosed in news articles. However, there was a tendency to strengthen ESG activities for prevention and improvement after negative media coverage that could have a negative impact on corporate image. Additionally, environmental issues were mentioned more frequently in news articles compared to ESG reports, with environmental-related keywords being emphasized in the 'Finance' sector in the reports. Thus, ESG reports and news articles shared some similarities in content due to the sharing of information sources. However, the impact of media coverage influenced the emphasis on specific sustainability strategies, and the extent of mentioning environmental issues varied across documents. Based on our study, the following contributions were derived. From a practical perspective, companies need to consider their characteristics and establish sustainability strategies that align with their capabilities and situations. From an academic perspective, unlike previous studies on ESG strategies, we present a subdivided methodology through analysis considering the industry-specific characteristics of companies.

Do Foreign Firms Really Pay Higher Wages Than Local Ones? (외국계 기업이 국내기업보다 실제로 임금을 더 많이 주는가?)

  • Choi, Minsik
    • Journal of Labour Economics
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    • v.29 no.3
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    • pp.1-23
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    • 2006
  • This study investigates the effects of inward foreign direct investment on local workers' wages by focusing on U.S. manufacturing industries for the period from 1987 to 1992. Contrary to public perception that foreign ownership is positively associated with higher wages, previous studies show mixed results. Since most of the previous studies used industry or firm level average wages, they can not control for the impact of individual characteristics on wages. I use two different approaches to control individual characteristics and to implement estimation in this study: (1) One-step estimation with industry-state level of inward foreign direct investments by using individual level data, and (2) Two-step industry characteristic regression approach. The higher presence of foreign firms is associated with higher local wages after workers' observable characteristics are controlled for in the first approach. This effect, however, disappears once workers' industry affiliations and regions are controlled for in cross-section analysis. In a panel data analysis, I did not find any statistically significant positive association between inward FDI activities and industry wage premiums within industry. Further, inward FDI activities appeared to be negatively associated with worker's industry wage premium for workers with more than high school education.

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Human Toxicity Index and Toxic Substances Emissions in Korea Industries (한국의 산업별 독성물질 배출과 인체유해도 측정 -산업연관분석의 응용-)

  • Rhee, Hae-Chun;Kim, Ik;Hur, Tak
    • Environmental and Resource Economics Review
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    • v.15 no.4
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    • pp.643-672
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    • 2006
  • This study has assessed the industrial human toxicity index by means of toxic substances emissions in South Korean industry. The data used in analysis are the 146 kinds of the toxic chemicals emissions and final demands, total outputs in the input-output table. As a results, human carcinogenic index was $11.86198{\times}10^3$ for overall industries, and $0.26360{\times}10^3$ for average. The industries of higher human toxicity index can be ranked as follows: Mother vehicles and parts (7.85033) > Pig iron and crude steel(4.57409) > Primary iron and steel products(4.36668) > Other transportation equipments and parts(3.43293) > Inorganic basic chemical products(2.64379), etc. Such result can be considered as the priority order of regulation based on industrial characteristics, when the demand and industrial policies should be carried out for the deduction fof toxic substances.

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A Study on the Induce Effects of Energy Consumption among Industries (산업별 에너지 소비의 유발효과에 관한 연구)

  • Cho, Sang-Sup;Kim, Dong-Yeub;Kang, Shin-Won
    • Environmental and Resource Economics Review
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    • v.18 no.4
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    • pp.637-652
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    • 2009
  • We measure and compare inducements of energy consumption in different industry sectors using inter-industry input and output tables of 1995, 2000 and 2005. We also compute the multiplier effects that relate to the directions of future economic effects. Key Findings are as follows. First, we observe continues decreasing linkage effects in all industries over period of 1995 to 2007. Second, backward multiplier of energy consumption were highest in the material related industry and chemical industry. As for inter-industry inducements, the indirect backward multipliers were high in the other industry. Third, the forward multiplier effect of energy consumption were as same as the backward multiplier effect's sectors. The indirect forward multipliers, however, were highest in the material related industry and chemical industry. The above findings show that since implementing pro-environmental policy in 2000s, the industries structure for reducing energy consumption has been transformed.

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Empirical Analysis on the Effects of the Input Factor Price on the Industrial Markups in Korean Manufacturing Industries (생산요소가격의 변화가 제조산업 마크업에 미치는 영향에 관한 실증분석)

  • Kang, Joo Hoon
    • International Area Studies Review
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    • v.20 no.2
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    • pp.47-62
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    • 2016
  • This paper is to set up the empirical model in order to estimate industrial markup and to analyze the determinants for industrial markup by estimating the factor price elasticities of markup in the Korean manufacturing industries using the autoregressive distributed model. The import price elasticities of markup were estimated to be -1.025, -0.176, and -0.260 respectively in Machinery products, Chemical products, and Metallics which proved to have higher ratios of imported intermediate goods to industrial output. The interest elasticities of markup were also estimated to be -0.165, -0.147, and -0.210 respectively in Chemical products, Metallics, and Machinery products which are capital-intensive industries. Thus, the paper suggests that both import price index and interest rate have had more decisive effects on the changes in industrial markup in the Korean manufacturing industries, in particular, since the foreign currency crisis beginning in late 1997.

A study on the Effect of Cash flow on the Investment Behavior (현금흐름이 투자행위에 미치는 영향에 관한 연구)

  • Chun, Yong-Soo;Im, Tae-Sun
    • The Korean Journal of Financial Management
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    • v.17 no.2
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    • pp.29-47
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    • 2000
  • 본 연구는 재벌집단의 기업과 비재벌기업으로 분류하여 이들 집단사이에 나타나는 투자행위의 차이점을 유동성제약의 틀 속에서 실증 분석한 것이다. 연구의 기간은 1986년부터 1995년도까지 10년으로 하고 연구의 대상은 연구 기간동안 연속적으로 증권거래소에 상장된 기업으로 한정하여 총 128개의 업체를 표본으로 이용하였다. 표본을 재벌규모별, 장세별, 산업별 분류에 의한 횡단면 분석결과 우리나라 비재벌기업의 경우, 전반적으로 재벌집단의 기업에 비하여 현금흐름이 투자에 대해 보다 더 민감할 것이란 충분한 근거를 얻지 못하였다. 그러나 재별의 범주를 5대재벌기업으로 한정하였을 때는 재벌기업에 비해 비재벌기업들의 투자는 현금흐름에 대하여 민감하다는 결론을 얻어 재벌기업에 비하여 비재벌기업은 정보문제나 유인문제에 직면 할 수 있음을 시사하였다. 규모에 따른 재벌기업의 분석에서는 상대적으로 규모가 작은 재벌의 기업이 규모가 큰 재벌의 기업보다 유동성이 제약되고 있음을 나타냈으며, 장세별 분석에서는 단지 주가의 상승기에 한하여 재벌집단 기업간의 비교에서 현금흐름은 30대재벌, 10대재벌, 5대재벌의 순서로 민감함을 보여 규모가 작은 집단의 재벌기업이 규모가 큰 집단의 재벌기업에 비하여 유동성이 제약됨을 나타내었다. 산업별 분류에 의한 분석에서는 통계학적으로 의미 있는 결과를 얻지 못하였다.

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Existence of an Industrial Optimal Level of Cash Holdings for KOSPI-Listed Firms in the Korean Capital Market (국내 유가증권 시장 상장기업들의 산업별 최적 현금유동성 수준 존재에 대한 실증분석)

  • Kim, Hanjoon
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.18 no.2
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    • pp.149-157
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    • 2017
  • This study investigated one of the contemporary financial issues that is still being debated among governmental policy makers, corporate managers, and investors in the domestic capital market. We attempted to identify the most optimal level of cash holdings for firms during the most updated fiscal years (from 2011 to 2015). The study utilized empirical methodologies, such as ANCOVA and RANCOVA, with respect to the 'inter-' and 'intra-industry' analyses for KOSPI-listed firms. Regarding the first hypothesis testing for inter-industry influence, we revealed with statistical significance that there were differences; however, there were only 3 pronounced industries among the 25 industries sampled in this study. Regarding the second hypothesis, only a few (i.e. two) industries showed no statistically significant intra-industry influence. Based on our results, most KOSPI-listed firms still seem to be searching for their optimal levels of cash reserves. Hence, we can anticipate that the value maximization as a corporate goal can be achieved after adjusting the current levels of their cash holdings according to the optimal points.