• Journal of Korea Port Economic Association
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• v.23 no.4
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• pp.159-175
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• 2007

The purpose of this study is to examine the causal relationship between trading volume of freight and industrial growth in Korea ports, and to induce policy implications. In order to test whether time series data is stationary and the model is fitness or not, we put in operation unit root test, cointegration test. And we apply Granger causality based on an error correction model, Hsiao(1981) method and variance decomposition. The results indicate that the extent of causality between trading volume of freight and industrial growth is strong in order of Incheon port, Busan port, Gwang Yang port, Ulsan port. We can infer policy suggestions as follows; The port policy of government must be focused on re-adjusting investment among Korea ports and raising competitive power of Korea ports

• Journal of the Economic Geographical Society of Korea
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• v.13 no.3
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• pp.297-311
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• 2010

The purpose of this study is to analyze the causality among GRDP, patent, investment of R &D, and researcher among 16 Metropolitan cities and provinces in Korea. Using the annual data ranged from 1998 to 2008, the causality test for time-series data such as unit roots test and Granger causality test were performed. We estimate the Panel-Var of the four variables to find out the various Granger causal relations for two groups which are classified by the patent productivity. The panel data causality results reveal that there are bidirectional causality relations among four variables for the more patent-productivity group. The patent has bi-directional effects on GRDP and R&D. The patent cause GRDP and vice versa, patent cause R&D and vice versa. Patent not only has strong direct impact on GRDP and R&D but also has affected by the increase of GRDP and R&D through the interactive feedback mechanism. However, the causality patterns are somewhat different between the more patent-productive region and the less patent-productive region. There exists one directional causality between the R&D and GRDP for the less patent-productivity group. Such result may imply that the type of regional innovation policy should be differentiated between two groups. Regional economic policy efforts should be placed on increasing the knowledge productivity and on strengthening the regional competitiveness through the regional innovative infrastructure.

• Electronics and Telecommunications Trends
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• v.9 no.4
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• pp.35-41
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• 1994

본 고는 한국을 포함한 17개국의 OECD 국가의 9개년간의 시계열자료와 횡단 자료를 결합한 panel 자료를 가지고 전기통신 투자와 경제 성장간의 인과 관계를 분석한다. 결과로 전기 통신 투자와 경제 성장 간의 상호적인 인과 관계를 확인한다. 이에 따라 2015년까지 정보 통신 기반 투자가 우리나라의 경제 성장에 영향을 미칠뿐만 아니라 경제가 성장함에 따라 정보 통신 투자가 유발된다는 사실을 경험적으로 제시한다.

• Environmental and Resource Economics Review
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• v.4 no.1
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• pp.103-124
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• 1994

주요 현물유가(WTI, Brent, Oman, Dubai)와 선물유가간의 동태적 관계를 시계열 분석 방법을 이용하여 살펴보았다. 현물유가 및 선물유가들은 1차 적분된 시계열(I(1))로 보여진다. 현물유가들사이 및 현물유가와 선물유가사이에도 공적분관계(cointegration relation)가 있는 것으로 보여진다. 한편, 선물유가는 현물 유가를 인과(Granger-cause)하지만, 현물유가는 선물유가를 인과하지 않는 것으로 나타났다. 이러한 공적분관계 및 인과관계의 결과는 합리적 기대가설(rational expectations hypothesis)에 의한 효율적 석유시장(efficient oil markets)과 일치하는 것으로 보여진다. 수정오차모형(error correction model)에 의해 3/4분기 및 4/4분기의 유가들을 예측해 보았다.

• Journal of Korea Society of Industrial Information Systems
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• v.11 no.5
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• pp.1-10
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• 2006

This study constructs a causal relationship model of balance scorecard(BSC) performance in supply chain management(SCM). According to the results, the sample companies show the causal relationship of learning and growth performance, internal process performance, customer performance, and financial Performance indices in SCM. And this study implies that BSC performance indices gives, through direct causal relations among them, impact on the ultimate financial performance of firms.

• The Journal of the Convergence on Culture Technology
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• v.9 no.3
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• pp.281-286
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• 2023

This study analyzed the causal relationship between housing sales prices and jeonse prices in Seoul, specifically in the Gangnam and Gangbuk neighborhoods. The time-invariant Granger causality test showed bidirectional causality between the sales price and the jeonse price in Seoul and Gangbuk, but no bidirectional causality was found in Gangnam. However, the time-varying Granger causality test showed a Granger causal relationship between the housing jeonse price and the sales price for the entire period after 1993 in all three areas. Notably, the causal effect of jeonse prices on sales prices has been continuous in Gangnam since 2010. These analysis results suggest that an increase in liquidity supply to the jeonse market could increase volatility throughout the housing market, given the strong influence between the sales and jeonse markets in both directions.

• Korean Business Review
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• v.20 no.2
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• pp.119-133
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• 2007

The present study purposed to examine whether BSC, a management renovation method, is as effective in university hospitals, which are non-profit institutions, as it is in profit-making corporations. In order to determine causal relations among the BSC performance measurement indexes, we analyzed a case of university hospital using a structural equation model. The results of analyzing the causal relations among the BSC performance measurement indexes were all statistically significant, and therefore the research hypotheses were all accepted. Future research needs to study causal relations among the BSC performance measurement indexes from the viewpoint of the learning of financial data, growth, internal processes, and customers.

• Environmental and Resource Economics Review
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• v.21 no.3
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• pp.493-517
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• 2012

This paper analyzes a price discovery process for gasoline among branded and independent stations in Korea using a vector error correction model (VECM) and directed acyclic graphs (DAG). Two data sets for daily prices of medium level gasoline running from April 15, 2008 to May 31, 2009 and from January 1, 2011 to December 31, 2011 are used for empirical analysis. Empirical results show that S-OIL has an exogeneity and played a important role in the flow of price information in the market in the first period. In the second period, SK energy played a key role in price discovery process in the market. The price of NH-OIL stations do not cause the price of any other stations, which implies that the entrance of new branded stations with lower gasoline price to market has no influence on gasoline prices of retail markets.

• Journal of the Korea Institute of Information Security & Cryptology
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• v.23 no.6
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• pp.1207-1217
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• 2013

This study utilizes raw data from "Research on the actual condition of firms' information security" of KISA (2010) and constructs panel dataset to analyze a causal relationship between information security investment and security breach. Using Difference in Difference estimation method we find the following results. First, while the usual causality that information security investment reduces security breach is not supported, the reverse causality that security breach increases information security investment is well explained. Second, contrary to the conventional wisdom, firms in the finance/insurance business sector show the most significant reverse causality pattern.

• The Korean Journal of Financial Management
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• v.10 no.2
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• pp.161-179
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• 1993

본 논문은 벡터자기상관(VAR) 모형과 벡터자기상관이동평균(VARMA) 모형을 사용하여 명목금리와 물가(도매물가)사이의 동태적 관계를 분석한다. 명목금리와 물가사이의 정(+)의 상관관계는 소위 $\ulcorner$깁슨의 역설$\lrcorner$로 불리워지고 있는데, 실증분석 결과에 의하면 한국의 경우 깁슨의 역설은 존재하지 않는 것으로 보여진다. 과거의 많은 연구들이 $\ulcorner$깁슨의 역설$\lrcorner$을 지지하는 실증결과들을 발견한 것은 관련변수들의 안정성(stationarity)을 고려치 않은 것으로 판단된다. 본 논문에서처럼 관련변수들의 안정성을 얻기위해 수준변수(예를들면, 도매물가지수) 대신에 차분되거나 증가율을 사용하고, 금리 및 물가이외에 두변수에 영향을 줄 수 있는 변수(예를들면, 통화변수)들을 포함하는 다변수 모형을 이용한다면 우리나라에서는 $\ulcorner$깁슨의 역설$\lrcorner$은 발견되지 않은 것으로 보여진다. 즉, 회사채 수익율과 도매물가상승율을 명목금리와 물가변수로 각각 사용하고, $1972.III{\sim}1991.III$사이의 분기별 자료를 대상으로 분석한 결과, 두변수 사이의 관계는 일방적 인과관계보다는 독립적인 관계로 나타나고 있다.