• Knowledge Management Research
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• v.23 no.1
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• pp.27-46
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• 2022

The current era's focus is on the surge in real estate prices triggered by the global economic downturn. This study advocated STO-based dispersed investment for the MZ generation, who has less capital than earlier generations. Existing real estate investment methods were categorized into online, offline, and hybrid formats and the effectiveness of the suggested STO was given in this study through case analysis domestically and overseas. The entry of STO into the financial industry was positively proved, and the efficacy of blockchain technology was validated, through the investigation of the STO framework. The findings of this study are projected to revitalize the new real estate sector by actively supporting the access of the MZ generation into the current inflexible real estate investment market by the application of blockchain and reflecting MZ generation's investment propensity.

• Asia-pacific Journal of Multimedia Services Convergent with Art, Humanities, and Sociology
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• v.7 no.1
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• pp.117-125
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• 2017

People believe that they make a rational decision. But the results of behavioral economics research show that people make a emotional decision at many times. The perception of fairness is one of the example in emotional decision. Sometimes people give up their monetary profit and revenge counterpart when they feel unfair. So the perception of fairness is very important. Two experiment was conducted. In experiment 1, researcher studied the effect of the pre-investment cost in perception of fairness. The result showed people who had pre-investment cost thought more unfair but were more likely to continue prior decision. In experiment 2, researcher studied the effect of type of CEO and message frame in perception of fairness. The results showed that people thought the proposal was more unfair when CEO was son of founder and message was gain and loss framing message.

• 대한공업교육학회지
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• v.37 no.2
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• pp.77-98
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• 2012

The purpose of this study is to investigate what kind of activities by specialized highschool students who have a sense of learned helplessness do after school, and then to inquire if there would be any of differences between their school activities and after school activities. The students in J specialized highschool for vocational education, located in D city participated in the program of improving learning motivation for students with learned helplessness. We selected 15 out of them as the subjects who were judged to be suitable for this study through 'Convenience sampling'. The research methods of this study is qualitative research methods by observation and in-depth interviews. The results are as in the following. First, daily activities after school of the specialized highschool students with learned helplessness can be divided into 3 groups; leisure activities, learning activities, and sustenance activities. Most of the students spend a lot of time doing leisure activities such as playing with a computer, watching TV, doing something with their friend, and killing time. Secondly, the character of daily activities after school of the specialized high school students with learned helplessness is different from that of the students' school activities connected with their daily activities after school. Based on the results we need to consider the character of the students' daily activities after school so as to help the students with learned helplessness, especially in specialized school.

• Journal of Korea Society of Industrial Information Systems
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• v.12 no.4
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• pp.1-14
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• 2007

Upon the intensive competition, companies try to hold their current customers by investing more money and efforts on CRM activities. They provide various benefits for their customer to keep them and increase their loyalty. However many companies want to know how effective their CRM activities are. In this paper, we investigate the effectiveness of companies' different CRM activities on customer perception of different benefits as well as their loyalty. For this we categorize the benefits that companies provide for their customer into four different types of customer benefits such as social customer benefits, psychological customer benefits, economic customer benefits and customization benefits. We examine the effects of different customer benefits and how different the customer benefits vary depending on the types of industries and even on the involvement level, relationship types, and customer's acceptance level of risks. We found that the CRM activities had, in general, a positive effect on customers' perception and loyalty. However, companies had better selectively concentrate their CRM activities on the most effective ones considering the involvement level, relationship types, and customer's acceptance level of risks along with the industry where they belong.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.17 no.11
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• pp.66-79
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• 2016

A discussion has recently emerged over the increase of approvals of K-REITs, which is concluded on the basis of how to raise funds for business activity, fulfill the expected rate of return and maximize the management of managing investment funds. In addition, corporations need to acknowledge the necessity of the capital structure reflected in the current economic environment and decision-making processes. This research analyzed the characteristics by investment types and influence factors about the debt ratio of K-REITs. The data were collected from general management about business state, investment, and finance from 2002 to 2015 in K-REITs (except for the GFC period of 2007~2009). The results of the research demonstrated the high ratios of the largest shareholder characteristics, which are corporation, pension funds, mutual funds, banks, securities, insurance, and, recently, the increasing ratio of the largest shareholder and major stockholder. The investment of K-REITs is increasing the role of institutional investors that take a leading development of K-REITs. The behaviors of simultaneous investment of institutional investors were analyzed to show that they received higher interest rates than other financial institutions and ran in parallel with attraction and compensation. The results of the multiple regressions analysis, utilizing variables about debt ratio were as follows. The debt ratio showed a negative (-) relation that profitability is increasing, which matches the pecking order theory and trade off theory. On the other hand, investment opportunities (growth potential) showed a negative (-) relation and assets scale that indicated a positive (+) relation. The research results are reflected as follows. K-REITs focused on private equity REITs more than public offering REITs, and in the case of financing the capital of others, loan capital is operated under the guarantee of tangible assets (most of real estate) more than financing of the stock market. Further, after the GFC, the capital of others was actively utilized in K-REITs business, and the debt ratio showed that the determinant factors by the ratio and characteristics of the largest shareholder and investment products.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.31 no.6B
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• pp.551-563
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• 2011

Water resource projects need an enormous national budget. Therefore, a reasonable and reliable decision making is required for the planning of water resource projects, but decision making has been mostly performed by economic analysis. The objective of this study is to develop a Multi-criteria Decision Making(MCDM) model which can assess the project in various aspects for the selection of preferable alternative and determination of investment priority in water resource projects. In this study, the criteria involves economic feasibility, policies, vulnerability, and sub-items which have weights obtained from the expert survey for the consistent evaluation. We also derived the utility function considering risk trend of each item based on the expert survey. Then, the total score was estimated by weights of each item and utility score of each attribute. The results show that vulnerability is a major contributor for the criteria. This study will contribute to the selection of proper water resource projects considering efficiency of project and fairness for vulnerable area.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.10 no.1
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• pp.200-208
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• 2009

Trend of R&D expenditure in Korea during the last 10 years, the R&D expenditure has been constantly increasing at an average rate of 10%. The government R&D ekpenditures or subsidies are increasing rapidly But the studies of evaluating impact of government R&D subsidies are few. This study attempts to empirically investigate the effects of government R&D subsidies on private firm's R&D investment in Korean industry by using Propensity score matching method which sign as to whether the relationship between government subsidies and private R&D investments is on stimulating or displacing private R&D expenditures. Empirically, a firm with government R&D subsidy are 733 million dollar more expenditure then don't receive any government R&D funding. Also Government R&D subsidies greatly increase (statistically significant) company financed R&D expenditures only for large firms but had no effect on the R&D expenditures of small & medium sized firms and venture firms.

• Journal of the Economic Geographical Society of Korea
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• v.15 no.2
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• pp.228-239
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• 2012

Guanxi could be regarded as communities based on blood, regionalism, school ties centering on individual person. It has been used as a means of personal interests security and acquisition. What is more, it has formed a mode of socio-economic order, which is an inter-obligation relations based on mutual benefits. In practice, it is necessary to understand and accept guanxi in China, as it is a key factor to understand consumer patterns, inter-firm relations and extra-firm relations between firm and government. In this context, the main aim of the reserach is to identify the impact of guanxi on the business activities of Korean foreign direct investment firms in China by investigating their networks based on guanxi.

• International Area Studies Review
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• v.17 no.4
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• pp.43-63
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• 2013

This paper investigates the impact of free trade agreement (FTA) on the performance of Korea's foreign direct investment (FDI) firms. We use plant- and firm-level data to examine the trends of FDI patterns of Korean firms between 2002 and 2010 by dividing firms based on their sizes - large and small firms. Analyzing firms' FDI activities worldwide, we find that small firms account for large share of investment cases especially in countries where FTA became effective with Korea during our sample period. Using these facts, we estimate the changes of productivity and performance of large and small firms and their foreign affiliates before and after FTA became effective. Our results show that FTA increases productivity of small firms and their foreign affiliates after its formation. In particular, we provide evidence that productivity improvement by small firms and their foreign affiliates may result from an increase in production and capital during FTA period.

• Journal of Korea Technology Innovation Society
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• v.10 no.1
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• pp.1-21
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• 2007

Among numerous policy influencers' and researchers' advices and policy suggestions, there is little opposition to the proposition that technology is essential to the economic development. The role of technology has never been more emphasized than today in Korea as in any other countries. The effects of the government's innovation policy on corporate R&D activities and more broadly the economic welfare of a whole nation are widely recognized with intuitional and empirical evidence. That is, various R&D incentives reduce the marginal cost of a firm's R&D efforts, inducing as much increase of its R&D investment to result in a better chance to acquire target technology. This paper examines the impact of R&D incentives on the technological outcomes by analyzing individual firms' investment behaviors subject to the government's R&D incentive policies. An econometric model of technological outcomes is estimated on a project level with cross-sectional data. "Probit model" is employed for estimations. Special attention was given to the effectiveness of R&D programs by estimating policy impact by types of investment. The data were collected from 928 different R&D projects completed between 1987 and 1993. With the single equation approach, we were able to find that the structure of investment is a far more significant factor in technological outcomes than the total amount of investment. The analysis also shows that the two types of firms' matching investment, in-kind and cash, do not bear a complementary, but a substitutive relations to each other. It also reconfirms the proposition that R&D incentives increase firm's financial investment. Despite many supportive studies emphasizing the cooperation between innovation performers, it is also found that the larger the number of institutions involved in a project, the less likely it leads to a technological success, And meeting the proposed deadlines without postponing is estimated to be a good barometer to predict the outcome of an R&D project. Also the probabilities of success for major variables are represented for policy implications, after calculating marginal effects.