• The Journal of the Korea Contents Association
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• v.20 no.3
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• pp.73-80
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• 2020

Using 8,499 observations from 5 years-1,878 firms panel data during 2014 to 2018 in Korean stock exchanges, this study examines the impact of National Pension's ownership on corporate philanthropic giving. The empirical study finds that National Pension's ownership has positive relations with the extent of corporate philanthropic giving in terms of the amounts per employee, the expenditures with respect to total asset and total sales, implying that National Pension plays a monitoring role in promoting target firms to increase the extent of corporate philanthropic giving, which lead to increase in target firms' long-term values. The empirical study also finds that when National Pension is a blockholder holding more than 5% ownership in the target firms, it has positive relations with the extent of corporate philanthropic giving in terms of the amounts per employee, the expenditures with respect to total asset, implying that it exercises disciplinary roles on focal firms in promoting the extent of corporate philanthropic giving in order to increase target firms' long-term values. The results overall support that National Pension plays positive effects on target firms in promoting the extent of corporate philanthropic giving, which lead to increase in target firms' long-term values.

• Knowledge Management Research
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• v.22 no.4
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• pp.87-101
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• 2021

ESG Investment is emerging as a trend and common sense in the financial market. ESG Investment is an investment method that simultaneously pursue social sustainability and investment returns from a long-term perspective by reflecting non-financial factors such as environment, society and governance in addition to corporate financial performance in investment decisions. This study checked how the characteristics of ESG investment have been changed after Covid-19. Afterwards, it was confirmed that Covid-19 actually acted as a negative factor in the securities market by applying VAR model. At the same time, it was demonstrated that ESG indices of the US and Korea outperformed their benchmark in terms of return and risk during the pandemic regime. The result of this study hints that the importance of ESG investment will be unchanged after Covid-19. At the same time, it suggests that managers should avoid passive ESG management and engage in strategic ESG management based on knowledge management.

• Journal of the Korean Geographical Society
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• v.36 no.4
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• pp.402-417
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• 2001

This study empahsized the nature of spatial patterns, characteristics and embeddeness of foreign business service firms in Korea utilizing questionnaire survey and interview data. Foreign business services firms are active in forming interfirm networks with clients and supply firms in Korea for widening the market share in Korea. But a low proportion of foreign firms is engaged in academies-industry linkages, government organizations, research institutes, and trade associations. Knowledge transfer and interaction also shows low level of network and the regional development of foreign firms is still in the process of developing, not quite embedded yet. Policy guidances and instituional supports are very essential to strenthen interfirm network and collective learning process of foreing firms in Korea lather than mechanical accumulation of investments. Thus, regional foreign direct investment policy should be targeted towards the incrementation of the potential of foreign firms as a knowledge-intensive industry.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.4
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• pp.37-50
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• 2023

Venture capital invests the necessary capital and supports management and technology in promising small and medium-sized venture companies in the early stages of start-up with promising technology and excellent manpower. It plays a role as a key player in the venture ecosystem that realizes profits by collecting the investment through various means after growth. Venture capital's job is to recruit various investors(LPs) to invest in small and medium-sized venture companies with growth potential through the formation of venture investment funds, and to collect investment as companies grow, distribute and reinvest. The main tasks of venture capitalists, which play the most important role in venture investment, are finding promising companies, corporate analysis and evaluation, investment screening, follow-up management, and investment recovery. Venture capital's success indicators are fund formation and return on investment, and venture capitalists are rewarded with annual salary, performance-based incentive, and promotion with work performance such as investment, exit, and fund formation. Compared to the recent rapidly growing venture investment market, investment manpower is insufficient, and venture capital is making great efforts to foster manpower and establish infrastructure and systems for long-term service, but research has been conducted mainly from a quantitative perspective. Accordingly, this study aims to empirically analyzed the impact of investment experience, delegation of authority, job fit, and peer relationships on fund formation and return on investment according to the characteristics of the venture capital industry. The results of these empirical studies suggested that future venture capital needs a job environment and manpower operation strategy so that venture capitalists with high job fit and investment experience can work for a long time.

• Defense and Technology
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• no.7 s.173
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• pp.64-71
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• 1993

국내외적 여건으로 미루어 볼때, 1990년대야말로 다가오는 21세기에 더욱 심화되리라 예상되는 국제기술경쟁에서 당당히 선진국과 어깨를 겨룰수 있는 기술적 기반을 확고히 하는 절호의 기회라고 생각합니다 그러나 아직 우리 항공우주산업은 기술기반이 취약하고 자본과 전문인력이 부족한 상태에 머물러 있는 실정입니다 항공우주산업의 육성과 기술개발에는 방대한 투자와 장기간이 소요되며, 따라서 범국가적 연구개발 체제의 수립 및 역할분담과 장기계획이 필요합니다

• Proceedings of the Korean Operations and Management Science Society Conference
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• 1992.04b
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• pp.218-227
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• 1992

전통적인 비김분석이 기업의 이익계획이나 의사결정에 간단하면서도 유용한 방법이긴 하지만, 소득함수나 비용함수를 선형함수로 가정함으로써 현실성이 결여된 점과 기업에서 경제성평가의 대상이 되는 투자대안들이 다기간이거나 장기인 사업들이 대부분인데도 단기간의 분석으로 제한된 점이 이 분석의 유용성을 크게 떨어뜨리고 있다. 이 논문은 장기적인 사업에서 일반적인 비용이나 수익의 변동성을 고려하여 전통적인 비김분석을 다기간의 사업에도 적용할 수 있도록 한다.

• The tire
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• s.233
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• pp.10-17
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• 2007

최근 세계경제의 성장이 둔화될 조짐을 보이고 있으나, 우리 경제에 대한 전망은 비교적 밝은 편이다. 우리의 주요 수출 대상국인 신흥개도국의 수요가 증가세를 유지하고 있고, 국내 투자가 회복되고 있기 때문이다. 그러나 이러한 수츨호조와 매출 및 순익의 증가는 비단 우리 기업에만 국한된 현상은 아니다. 세계 경제가 지난 4년간 1980년대 이후 최고의 성장세를 보였고 세계 교역 규모가 증가하면서 각국 제조업체의 수익은 큰 폭으로 증가하였다. 특히 1985년 이후의 엔고를 극복하고 1991년 이후의 장기 불황에서 벗어난 일본 경제는 전후 최장의 성장세를 시현하고 있다. 일본 제조업을 대표하는 일본 자동차업계 역시 양적으로 뿐 아니라 질적으로도 세계 최고의 경쟁력을 확보해 나가고 있다. 본 고에서는 일본자동차산업의 엔고와 장기불황 극복 전략에 대해 살펴 보기로 한다.

• Journal of Korea Port Economic Association
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• v.29 no.2
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• pp.19-38
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• 2013

This paper explores the relationship between shipping firm's investment and debt-ratio characteristics. Using a panel of 41 shipping firms from 2006 to 2011, this study finds evidence that debt/asset ratio and leverage are negatively associated with firm's investment activities. This relationship shows that volume of debt and capital structure are critical decision factor on firm's investment and capital financing. In terms of financial expenses to sales, positive relationship is existed with firm's investment finding that financing cost is important to investment. The previous study of the firm's investment in other sector also shows a negative relationship with debit ratio. This study is also interested in the extent to which the firm's investment is affected by firm size because there is general agreement that smaller firms have less access to external capital markets. As results, smaller companies group have more positive relationship with factors related to financing cost such as financial expenses to sales and tax. On the other hand, bigger companies group shows the evidence that firm investment is positive relationship with asset size. The analysis corresponding to economic fluctuation shows that debit ratio is more sensitive to firm's investment during a recession. On the other hand, financial expenses to sales is more related to firm's investment during an economic boom.

• The Journal of the Korea Contents Association
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• v.12 no.9
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• pp.357-368
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• 2012

The purpose of this study is to empirically examine the impact of enterprise R&D investment on international trade in Korea under the new Normal Era. In order to test whether the time series data of trade variables are stationary or not, we put in operation unit root test and cointegration test. Based on VECM (Vector Error Correction Model), we also apply impulse response functions and variance decomposition to estimate the dynamic effects in the short-run and long-run. The results show that the relationship between enterprise R&D investment and international trade (export and import) exists in the long-run as well as in the short-run. The results of applying impulse response functions and variance decomposition also indicate that the impact of enterprise R&D investment on international trade is positive, and a significant portion of fluctuations in the trade variable is explained by enterprise R&D investment. Therefore, enterprise R&D investment must be continuously increased to improve economic growth with promoting trading competition power in Korea under the new Normal Era.

• Korea Trade Review
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• v.42 no.2
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• pp.227-249
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• 2017

This study investigates whether foreign equity ownership is associated with trading volume. This study establishes null hypothesis indicating that foreign equity ownership is not related to trading volume based on prior studies regarding foreign equity ownership. We measured trading volume as proxy of investors' heterogeneous beliefs. To exam The the hypothesis, we collected sample firms listed on the Korean Stock Exchange from the year of 2001 to the year of 2011 inclusively. Controlling for variables related with trading volume as reported in the previous studies, the regression coefficient for the foreign equity ownership showed statistically significant negative sign. These results indicate that the foreign equity ownership is negatively associated with investors' heterogeneous beliefs. This study contributes to extant literature on foreign equity ownership by providing evidence that foreign equity ownership affects investors' trading decisions. The results also help policy makers in their policy development.