• Asia-Pacific Journal of Business
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• v.14 no.1
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• pp.93-112
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• 2023

Purpose - Due to the outbreak and spread of COVID-19, companies have reduced their hiring needs in the short term, reducing employment opportunities for most university students and putting pressure on their employment since 2019. This study aims to improve university students' employment options and increase the possibility of entrepreneurship. Design/methodology/approach - In this study, a research survey is conducted on 4-year Chinese university students who have received entrepreneurship education courses, and statistical tests are conducted using SPSS 26.0 and PROCESS 3.3 model 1. The main focus of the study is on the effects of risk perception and five personality factors on entrepreneurial intentions of Chinese university students and the effect of entrepreneurship education on the moderation of entrepreneurial intentions. Findings - The results of the study show that the risk perception of Chinese university students have a significant effect on the will to start a business. Five personality factors have a significant effect on entrepreneurial intentions. Entrepreneurship education has a moderating role in the relationship between risk perception and entrepreneurial intention, and the entrepreneurship education support has a moderating role in the relationship between the influence of five personality factors and entrepreneurial intentions. Research implications or Originality - The results of the study reveal that Chinese university students' exposure to entrepreneurship education support positively influenced entrepreneurial intentions. Such results imply that university students gain information and knowledge related to entrepreneurship through the entrepreneurship education support, which leads to positive perceptions and motivation towards entrepreneurship.

• Asia-Pacific Journal of Business
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• v.14 no.1
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• pp.131-148
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• 2023

Purpose - Since the 2020s, the management philosophy of Chinese firms' ESG has been rapidly established under the leadership of the Chinese government. We empirically analyze the ESG characteristics and effects on corporate value of Chinese firms. Design/methodology/approach - Using OLS and random effect panel regression analysis, we identify ESG determinants. In analyzing the impact on corporate value, likewise a large number of literatures, we adopt a 2SLS methodology using instrumental variables in the reason of endogeneity between ESG and firm value. We analyze using the G2SLS methodology, which is improving the efficiency of the estimation coefficients along with 2SLS. Findings - We find that ESG ratings are high in state-owned and foreign capital invested companies, ESG ratings are low in companies with a high proportion of non-floating stocks which implies information asymmetry. However, there are no significance in the institutional investor's, the major 10 largest shareholders' and manager's ownership. Furthermore, we can support most of the hypotheses that ESG ratings will be high in companies with high management performance. ESG ratings are significantly higher in companies with high ROA, rich in cash asset, low debt ratio, and large size. we strongly support the hypothesis that the higher the ESG rating, the higher the firm value, and ESG has a moderating effect on state-owned companies, non-floating shares, the ownership of institutional investors, manager, and the 10 major shareholder. In particular, state-owned companies, the proportion of non-floating shares, and the ownership of the 10 major shareholders have a negative impact on firm value, however, ESG attenuates this negative effect. Research implications or Originality - This study looks forward to enhancing our understanding of ESG characteristics in East Asia.

• Proceedings of the Korea Water Resources Association Conference
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• 2022.05a
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• pp.392-392
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• 2022

세계적 규모의 팬데믹 감염병의 출현은 전 세계적으로 경제적, 문화적, 사회적 파급효과가 매우 강력하며 전 인류를 위협하고 있다. 최근에 발병한 중증급성 호흡기질환 코로나바이러스 2(Severe Acute Respiratory Syndrome Coronavirus 2, SARS-CoV-2)는 2019년 12월 중국 우한에서 첫 보고 되었고 2022년 현재까지 종식되지 않고 있으며 바이러스의 전파력과 치명률이 높고 무증상 감염상태일 때에도 전염이 가능하여 현재 역학조사의 사후적 대응에 대한 한계가 있어 선제적 대응을 위한 수단이 필수 불가결해지고 있는 실정이다. 하수기반역학(Waste Based Epidemiology, WBE)이란 하수처리장으로 유입되기 전의 하수를 분석하여 하수 집수구역 내 도시민의 생활상을 예측하는 것으로 하수로 배출된 감염자의 분비물 및 배설물 속 바이러스를 하수관로에서 신속하게 검출함으로써 특정지역의 감염성 질환 전파 정도와 유행하는 타입(변이)등을 분석하고 기존 역학조사의 문제점을 극복할 수 있으며 선제적인 대응이 가능하다. 현재 COVID-19의 대유행과 관련하여 WBE를 기반으로 한 다양한 연구가 진행되고 있으며 실제 환자의 발생과 상관관계가 있음이 확인되고 있고 백신 접종과 새롭게 발생한 변이바이러스의 관계 속에서 발생하는 변수를 고려한 모델이 없다는 점을 들어 새로운 감염병 확산 예측 모델에 대한 필요성 또한 커지고 있다. 본 연구에서는 병원에서부터 하수처리장까지의 하수관거와 하수처리장에서의 SARS-CoV-2 검출농도 및 거동을 파악하는 것을 목적으로 하고 있으며 COVID-19의 감염규모 확산에 관한 방법론에서 수학적모델 (Euler Method, RK4 Method, Gillespie Algorithm)과 딥러닝 기반의 Nowcasting model과 Fore casting model을 살펴보고자 한다.

• Korea Trade Review
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• v.46 no.3
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• pp.119-133
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• 2021

After 'Zhou Chuchu (走出去, Go global)' in the early 2000s, and with the 'One-to-One Road' initiative in 2012, China's Overseas Foreign Direct Investment (OFDI) has increased significantly, resulting in high academic interest. The purpose of this study is to analyze the impact of national risks of home country on China's OFDI by using data from 49 countries along the 'One-to-One Road' between 2007 and 2018, and to compare the factors of national risks that attract investment from the world. As a result of the study, market economy companies' perceptions of national risks are mostly negative, so risk acts as a deterrent to investment. On the other hand, national risks of home countries have had positive effects on China's OFDI, which would mean that Chinese investors, mostly state-owned enterprises have a high tendency to invest in regions or countries with high national risks. Other economic factors, such as the size of the investment partner country's market, GNI per capita, and trade openness, had a positive (+) effect, and natural resources had a negative (-) effect on China's OFDI. As dummy variables, FTA, which is an economic and diplomatic factor, SCO, which is a political and diplomatic factor, and bordering which is a geographical factor, were also found to have a positive (+) effect. This study implies the investment pattern of China's OFDI is due to the characteristics of China's unique geopolitical and economic system, and it is judged to be influenced by political and strategic factors, especially the aspects led by state-owned enterprises.

• Korea Trade Review
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• v.45 no.2
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• pp.229-262
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• 2020

The price-to-earnings ratio (PER) is an important indicator to measure the stock price and profitability of a firm; it is also the most used valuation indicator among investors. When using the PER to compare the investment values of different stocks, these stocks must come from the same sector. This study mainly focuses on the China's listed manufacturing firms. By learning from previous research results and analyzing the current situation, we studied the correlation between the manufacturing sector's PER and its influencing factors from both macro and micro perspectives, the combination of which eventually sheds light on such correlation. Analyzing GDP growth rate data, Manufacturing Purchasing Managers' Index, and other macroeconomic variables from 2008 to 2018, we conclude that these variables jointly have a certain impact on the average PER of the manufacturing sector. We then form panel data based on relevant (2014-2018) data gathered from 317 of China's A-listed manufacturing firms to study the impact of micro-variables on PER. By using Stata and other software to analyze the panel data, we reach the conclusion that the Debt to Asset Ratio, Return on Equity, EPS growth rate, Operating Profit Ratio, Dividend Payout Ratio, and firm size have a significant impact on PER. The Current Ratio, Treasury Stock ratio and Ownership Concentration have no distinct effect on PER. Based on our empirical findings, we design a theoretical model that affects the PER.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
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• 2023.11a
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• pp.175-176
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• 2023

1973년 최초로 서비스를 시작한 GPS는 전 세계 60억명 이상이 사용 중이며 거의 모든 사업에 큰 영향을 미치고 있으며, 자동차, 농업, 해양, 일반 안전, 레저활동, 지형공간정보, 항공, 금융, 통신 등 산업 전반에 걸쳐 경제적 이익이 약 1조4천억 달러에 이르는 글로벌 시스템이라 할 수 있다. 최근에는 미국의 GPS 뿐만 아니라 유럽, 러시아, 중국 등 세계 주요국들은 자국의 독자 위성항법시스템을 구축하고 있으며, PNT 정밀성 향상을 위한 위성항법보강시스템의 개발 또한 주요국 중심으로 이루어지고 있다. 4차산업기술의 발달로 인해 다양한 산업의 상용화와 대중화에 따라 PNT 정보의 고정밀, 고신뢰에 대한 수요도 급증하고 있으며, 이에 대한 응용기술 분야에 대한 시장도 급속하게 성장하고 있다. 우리나라에서도 KASS와 같은 위성항법보강시스템 구축을 추진하고 있으며, 향후 독자 위성항법시스템인 KPS의 개발도 진행중에 있다. 그러나 고도 23,000km에서 송출하는 위성신호의 전파교란·기만에 대한 취약성과, 도심지와 같은 위성신호 수신이 열악한 환경에서는 고정밀·고신뢰 PNT 정보를 제공하기가 현실적으로 어려운 실정이다. 이러한 GPS의 취약성을 보완하기 위해 지상기반의 PNT 정보제공 시스템 구축의 필요성이 증대되고 있으며, 전세계적으로 상호보완적 PNT 시스템의 구축·기술개발에 대한 연구가 다양하게 이루어지고 있다.

• Journal of the Korea Society of Computer and Information
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• v.29 no.7
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• pp.199-207
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• 2024

In this paper, we propose the mechanism of China's green financial policy on renewable energy industry development implemented in different pilot zones. By utilizing the synthetic control method, this paper examines the differences in the effect of green financial policy before and after its implementation. The results demonstrate that green financial policy can significantly reduce traditional energy consumption while promote the renewable energy industry development simultaneously. Furthermore, the effects across different regions reveal that the impacts of green financial policy are pronounced in selected pilot zones, with Shanghai and Chongqing standing out the most while Gansu province performs the worst. The analysis also figure out that green financial policy stimulates the expansion of regional financing scales, resource endowment, and technological innovation as well.

• Journal of the Korea Society of Computer and Information
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• v.29 no.2
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• pp.179-195
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• 2024

The technological innovation of high-tech enterprises plays a positive driving role in operational performance. Investigating the factors influencing the operational performance of high-tech enterprises and the effects of technological innovation on operational performance is a targeted approach to promoting the growth of economic benefits and enhancing the foundation of enterprise efficiency. Additionally, it holds positive significance for the increase in market share of high-tech enterprises. This paper, considering the characteristics of high-tech enterprises, selects three influencing factors: research and development (R&D) investment intensity, the number of authorized patents, and the increment of intangible assets. Theoretical analysis is conducted on the impact mechanism and effects of these factors on operational performance. Based on this, empirical analysis is performed using relevant data of Chinese high-tech enterprises from 2011 to 2019. The study indicates that R&D investment intensity has a significant positive promoting effect on operational performance, the number of authorized patents also positively influences operational performance significantly, while the asset-liability ratio of high-tech enterprises has a notable inhibitory effect on operational performance. Finally, relevant recommendations are proposed.

• Asia-Pacific Journal of Business
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• v.14 no.4
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• pp.87-113
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• 2023

Purpose - Focusing on Haier, a successful corporate venture in China, we analyse the operating mechanism and success factors of corporate venture, and reveal the necessary factors for the successful implementation of corporate venture. Design/methodology/approach - This study is a single case study centred on Haier, a successful corporate venture in China. Findings - The operational process of Haier's corporate venture includes six key aspects: project selection, team building, resource allocation and support, project implementation, risk control measures, performance evaluation and rewards. In terms of success factors, the support of top management with leadership capability of value creation and sharing is very important for the success of corporate venture. Secondly, a multi reward mechanism can be introduced to motivate employees and improve performance. Thirdly, it is important to integrate corporate culture into the operating mechanism of an corporate venture. Fourthly, flexible operations that break down rigid organisational boundaries and transform the organisation into a more open platform for entrepreneurship can increase the likelihood of success. Finally, empowering employees with operational discretion can also have a positive impact on the success of an Corporate Venture. Research implications or Originality - This study contributes to theory and practice by analysing the success conditions of corporate venture, providing new understanding and drawing new perspectives, especially from the experience of Haier. The results suggest strategies and flexibility for successfully pursuing corporate venture, and provide important experience for international companies to help them gain competitive advantage in global competition. It also helps corporate leaders to promote new directions and innovations and improve their strategies to respond to dynamic environments.

• Korean Security Journal
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• no.22
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• pp.91-111
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• 2010

Around the middle of the ninth century the strict bone-rank system of Silla frustrated many people who had political ambition but lacked nobility. They had to seek other ways, including maritime trade. Such an undertaking reflected and also increased their economic and military power. Trade prospered with T'ang China and with Japan as well. The threat of piracy to Silla's thriving maritime trade caused to create a succession of garrisons at important coastal points. Chonghae Jin (Chonghae garrison) was regarded as the most important of these. It was established in 828 by Chang Pogo. Chonghae Jin was on Wando, an island just east of the southwestern tip of Korea and a key place at this time in the trade between China, Korea, and Japan. From this vantage point Chang Pogo became a merchant-prince with extensive holdings and commercial interests in China and with trade contacts with Japan. Although piracy was rampant in East Asia at that time, either the Chinese or Silla government was not able to control it due to inner political strife and lack of policing resources. Infuriated by the piracy and the government's inability to control it, Chang Pogo came back to Silla to fight against the pirates and to protect maritime trade. He persuaded the king of Silla and was permitted to control the private armed forces to sweep away the pirates. In 829 he was appointed Commissioner of Chonghae-Jin with the mission of curbing piracy in that region. Chang's forces were created to protect people from pirates, but also developed into traders among Silla Korea, T'ang China, and Japan in the 9th century. This was geographically possible because the Chonghae Garrison was situated at the midpoint of Korea, China, and Japan, and also because Chang's naval forces actually dominated the East Asia Sea while patrolling sea-lanes. Based on these advantages, Chang Pogo made a great fortune, which might be collected from a charge for protecting people from pirates and the trades with China and Japan. Chang's forces could be termed the first private security company in the Korean history, at least in terms of historical documents. Based on historical documents, the numbers of private soldiers might be estimated to exceed tens of thousands at least, since Chang's forces alone were recorded to be more than ten thousand. Because local powers and aristocratic elites were said to have thousands of armed forces respectively, the extent of private forces was assumed to be vast, although they were available only to the privileged class. In short, the domination of Chang's forces was attributable to the decline of central government and its losing control over local powers. In addition it was not possible without advanced technologies in shipbuilding and navigation.