• Korean Business Review
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• v.16
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• pp.77-97
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• 2003

The Korean government issues the policy that regional government mat change the regional tax rates for economic growth. On the ground that change in regional tax rate incurs the disturbance in regional economy and entails tax competition, regional government does not accept the proposal. The CGE simulation result shows that tax competition reveals the trade-off relation between efficiency, balanced national development, and equity. Thereby, the stance of regional government can be justified by the results. Therefore central government has to grope for some reconcile means that efficiency and equity can be harmonized. The proposal can be justified by the analyses.

• Environmental and Resource Economics Review
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• v.23 no.3
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• pp.515-551
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• 2014

Recently, there has been a debate as to whether bioethanol should replace some portion of gasoline for fuels in South Korea, as energy security as well as climate change issues are rising as a significant national agenda. However, a considerable amount of subsidy will be required to compensate for the higher price of bioethanol-blended gasoline. In this context, government subsidy will obtain justification only when the positive social gains from consuming bioethanol for fuels can exceed the negative social costs. Through a nation-wide choice experimental survey, we examine if South Koreans have a positive value as well as non-linear preferences on substituting bioethanol for gasoline. The results reveal that the willingness to pay for purely domestic bioethanol-blended gasoline within 10% is about 52 KRW; Koreans have concave preferences on the blending ratio of bioethanol to gasoline. The turning point of the blending ratio of bioethanol was 6.5%. Also, we found inverse U-shaped curve between income and bioethanol choice probability and the turning point of the income was calculated as 250~299million KRW. Politically conservative propensity advocates uses of bioethanol blended gasoline, but awareness on bioethanol or more weights on environmental conservation have significantly negative effects on the choice of bioethanol. However, the design of the survey questionnaire is incompatible with the RFS of Korea and assumes orthogonality among the following four interrelated attributes: (i) domestic or offshore procurement of feedstocks in the case of domestic production, (ii) domestic production or import of bioethanol, (iii) the blending ratios, and (iv) the retail price increases. In addition, the results of model estimation and of model selection test are not definite. Hence, the results in this study should not be directly applied to the design of the specifics of the Korean RFS. Hence, the results in this study require cautions in applying to the design of the Korean RFS policy.

• Korea Trade Review
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• v.41 no.2
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• pp.29-60
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• 2016

Research and Development(R&D) investment is an issue of central importance in any economy. In this paper we analyze the relationship between R&D spillovers and trade-related variables, using a two-stage model where duopolists simultaneously decide on R&D in the first stage and engage in Cournot competition in the second stage. We characterized and compared the free-trade and trade-restriction R&D equilibrium in a two-stage game of R&D investment followed by Cournot market competition. We also assessed the impact of varying the R&D spillover on the equilibrium outcomes and tariff. We showed for both free trade and protection cases that there exists a unique symmetric solution(subgame perfect Nash equilibrium). As the solution, while analytical, cannot be stated in closed form, we resorted to numerical experiments to investigate the equilibrium results. Our estimates indicate for both free trade and protection cases that the level of R&D investment and the rate of R&D expenditure decrease as the degree of R&D spillovers increases, and that there is an inverse relation between the degree of R&D spillovers and level of protection. The latter implies that the larger the degree of R&D spillovers, the lesser the level of protection.

• Journal of Korean Society of Transportation
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• v.22 no.3 s.74
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• pp.145-157
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• 2004

The cycle length design model of the Korean traffic responsive signal control systems is devised to vary a cycle length as a response to changes in traffic demand in real time by utilizing parameters specified by a system operator and such field information as degrees of saturation of through phases. Since no explicit guideline is provided to a system operator, the system tends to include ambiguity in terms of the system optimization. In addition, the cycle lengths produced by the existing model have yet been verified if they are comparable to the ones minimizing delay. This paper presents the studies conducted (1) to find shortcomings embedded in the existing model by comparing the cycle lengths produced by the model against the ones minimizing delay and (2) to propose a new direction to design a cycle length minimizing delay and excluding such operator oriented parameters. It was found from the study that the cycle lengths from the existing model fail to minimize delay and promote intersection operational conditions to be unsatisfied when traffic volume is low, due to the feature of the changed target operational volume-to-capacity ratio embedded in the model. The 64 different neural network based cycle length design models were developed based on simulation data surrogating field data. The CORSIM optimal cycle lengths minimizing delay were found through the COST software developed for the study. COST searches for the CORSIM optimal cycle length minimizing delay with a heuristic searching method, a hybrid genetic algorithm. Among 64 models, the best one producing cycle lengths close enough to the optimal was selected through statistical tests. It was found from the verification test that the best model designs a cycle length as similar pattern to the ones minimizing delay. The cycle lengths from the proposed model are comparable to the ones from TRANSYT-7F.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.1
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• pp.139-155
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• 2022

This paper presented a research model to investigate the relationship between the psychological traits of small business entrepreneurs and entrepreneurial orientation and the relationship between entrepreneurial orientation and performance. To verify the research model, a total of 202 entrepreneurs in Daegu were surveyed and the data obtained were used. The collected data were analyzed by SPSS and AMOS. The results of the analysis showed that all of the psychological traits except 'Agreeableness' and 'Extroversion' among the small business entrepreneur's psychological trait had a positive(+) effect on entrepreneurial orientation. In addition, it was confirmed that entrepreneurship orientation had a positive(+) effect on performance, and government policy funding had a moderating effect between entrepreneurship orientation and performance. In conclusion, the causal relationship between the small business entrepreneur's psychological traits and entrepreneurial orientation is examined, and the moderating effect of government support programs is examined to find out what psychological traits of small business entrepreneurs affect the expression of entrepreneurial orientation. In addition, since entrepreneurial orientation affects performance and government policy funds control, it suggests that continuous financial support for small business entrepreneurs is needed.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.7 no.1
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• pp.263-271
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• 2012

The purpose of this study is to investigate the relationship between entrepreneurial factors and entrepreneurial intention on student. This study is designed to examine the effect of entrepreneurial factors on entrepreneurial intention. Data for the study was compiled through surveys on 300 students who study in engineering school of H university. Empirical results of the hypothesis testing are summarized as follows: The results indicate that both two variable groups have positively influenced the entrepreneurial factors was highly related to entrepreneurial intention. The factors entrepreneurship are background, individual and situational factor. This all factors influence on entrepreneurial intention. The entrepreneurial factors had a positively influence on will power of entrepreneur. The entrepreneurial factors had a positively influence on performance of entrepreneur.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.15 no.10
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• pp.6084-6091
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• 2014

This paper presents the GJR GARCH model (Glosten et. al, 1993) to analyze the influences of volume volatilities on price volatilities in the fishery market. For the analysis, this study used the monthly price and volume data of aquacultural flatfish in Jeju. As a result, empirical analysis suggested volatility clustering. The persistency parameter(${\lambda}$) was estimated to be approximately 1 in aquacultural flatfish. The results showed that there is a significant negative relationship between the conditional variance of supply and that of price for aquacultural flatfish. This means that the general law of supply is valid. Finally, the empirical analysis was that an asymmetric coefficient (${\gamma}$) of GJR GARCH model was negative (-). This means that the higher volatility of volume leads to lower price volatility. That is, it is useful to make government policies that can adjust the volume (stockpiling, stabilizing supply and demand).

• Journal of Energy Engineering
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• v.29 no.1
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• pp.1-12
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• 2020

The rapid climate change is strengthening carbon emissions regulations internationally. Korea is strongly pressed to accept the obligation to reduce greenhouse gases as one of the United Nations Framework Convention on Climate Change. This article analyzed the Granger causalities among environmental regulation, economic growth, electricity consumption, and CO₂ emission in Korea, using unit root test, cointegration test, and vector error correction model. As the results, environmental regulation has shown the bidirectional causalities with electricity consumption and CO₂ emission, while being unilaterally affected by economic growth in the long-run and strong relationship. Economic growth has affected electricity consumption, CO2 emission, and environmental regulation in the long-run, in the complex structure of the unilateral and short-run causality with electricity consumption and the bidirectional causality with CO2 emission. The policy implications will be as follows: ① environmental regulation should induce sustainable growth through encouraging technological innovation relating to CO2 reduction and productivity enhancement. ② Responding to the international CO2 reduction regulation, the synthetic policy initiatives will be considered to make synergy effects among policies relating to economic growth, electricity consumption.

• Korean Journal of Construction Engineering and Management
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• v.20 no.2
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• pp.68-78
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• 2019

Recently, housing prices have surged, and the government has implemented various regulations, such as finance and taxes. Because of the policy, the nationwide housing price have stabilized, but polarization has occurred. Some argue that regulation can adversely affect the actual demand. Therefore, not only the correlation between market variables but also ripple effect of policy has to be analyzed in policy planning and analysis from a microscopic point of view. In this study, a simulation model was developed by integrating system dynamics for analyzing market structure and agent-based model for modeling decision process of market participants. This research applied the financial regulation and the tax regulation to the model and evaluated the policy effectiveness. This study reveals which feedback dominates according to the policies, which have same purpose. It is because market participants make different decision for each policy. Furthermore, there were other ripple effects not only in the policy target submarket but also in other submarket.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.9 no.6
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• pp.109-115
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• 2014

Sales of online games companies that began from the small and medium-sized ventures, have grown to billions or hundreds of million dollars to target the global market. The issues related with industrial policies and regulations for game industry gain attentions. In particular, the Korean government has strengthened the relevant regulations of the webboard game service across many departments within the government such as Media Rating Commission, Game Products Administrative Committee, Ministry of Culture, Tourism and Sports, and Ministry of Female and Family. In this study, we analyze the effects of government regulation on webboard games using a VECM(Vector Error Correction Model). We have acquired the Gametrix time-series data during a year since July 2013. Having the co-integration estimated in the analysis process, we attempt to identify the long-term equilibrium relationship within webboard game industry and predict use time in near future. The results show that the use time has decreased to a third to a fourth comparing to the initial value at the beginning point in 2013. Two representative webboard games are exposed to the significant risks to have less or no use time. Additionally, we discuss the issues of the overall game industry influenced by the changes of webboard games.