• 사회복지연구
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• 제41권3호
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• pp.213-239
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• 2010

본 연구의 목적은 국가복지가 확대되는 우리 현실에서, 복지국가의 발전방식(제도 보편성)에 대한 선호에 영향을 미치는 요인이 무엇인지를 파악하는 것이다. 특히, 주관적 인식과 선호의 인과구조를 밝히는 과정에서 발생할 수 있는 내생성(endogeneity) 문제를 고려해, 도구변수를 활용한 2SLS 회귀분석을 시도하였다. 분석결과는 다음과 같다. 첫째, 국가복지의 확대에 반대할 것으로 예상되는 집단(고소득자, 저위험자, 그리고 고용주/자영업자 등)들이 보편적 복지는 선호하는 것으로 나타났다. 둘째, 주관적 인식의 경우 복지제도 및 수혜자에 대한 부정적 인식은 보편적 복지를 반대하는 쪽으로 영향을 미쳤다. 추가로 부정적 인식은 산업화 시대를 오래 경험한 세대들에서 더 강한 것으로 나타났다. 셋째, 태도로 태도를 설명하고자 할 경우에 발생할 수 있는 내생성 문제가 본 연구에서도 확인되었다. 이것은 실제로 추정회귀계수를 왜곡시키고 있었다. 따라서 관련 후속연구들은 분석과정에서 이를 유념해야 할 것으로 보인다.

• 방사성폐기물학회지
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• 제19권1호
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• pp.87-111
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• 2021

Nuclear power plants (NPPs) produce radioactive waste and decommissioning this waste entails additional cost; determining these costs for various types and specifications of radioactive waste can be challenging. The purpose of this study is to identify major determinants of the decommissioning cost and their impact on NPPs. To this end, data from defunct NPPs were gathered and 2SLS (Two Stage Least Squares) regression models were developed to investigate the major contributors depending on the reactor types, viz. PWR (Pressurized Water Reactors) and BWR (Boiling Water Reactors). Additionally, cost estimations and the Monte Carlo simulation were performed as part of performance validation. Our study established that the decommissioning costs are primarily influenced by the level of radioactivity in the decommissioned waste, which can be realized from operational factors like operation period, overall efficiency, and plant capacity, as well as from duration of decommissioning and labour cost. While our study provides an improved statistical approach to recognize these factors, we acknowledge that our models have limitations in forecasting accurately which we envisage to bolster in future studies by identifying more substantive factors.

• 아태비즈니스연구
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• 제14권1호
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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.

• 수산경영론집
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• 제34권1호
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• pp.31-44
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• 2003

The purpose of this study is to investigate empirically interaction among the financing decision, investment decision, and profitability by using 41 fisheries corporations in Korea, and to suggest implications of the empirical results for government's financial policy for fisheries corporations. Sample period is 19 years from 1982 till 2000. This analysis method employs the two stage least squares(2SLS) estimation method. From the results of regression analysis by 2SLS estimation method, the adjusted $R^2$ values were high and the overall F values indicated significant. The empirical results of this study are as follows; (1) determinant factors of capital structure model for fisheries are profitability, firm-size, fisheries investment of total asset, and business risk. As pecking order theory explains, the higher is profitability the lower is debt ratio. The larger firm-size, the higher is debt ratio. The higher is fisheries investment of total asset and business risk, the higher is debt ratio. (2) determinant factors of investment model for fisheries are the change of sales, business risk, and debt ratio. These factors have positive relation to fisheries investment of total asset (3) determinant factors of profitability model for fisheries are fisheries investment of total asset and debt ratio. These factors have negative relation to profitability. On the basis of analysis results, on the government's financial policy for fisheries corporations, I suggests that with interest rate reduction, the government should lend more funds to solve the crisis in the financial structure of the fisheries firms

• The Journal of Asian Finance, Economics and Business
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• 제7권6호
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• pp.379-385
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• 2020

The effect of research and development (R&D) expenditure on firm output is an interesting topic, but hardly explored in developing countries due to the unavailability of data. This study investigates this topic in the context of Vietnam by utilizing a novel dataset of 343 firms listed on the Vietnam Stock Exchange in the 2010-2018 period. The effect of R&D expenditure is examined under the production function framework. In order to obtain the robustness of the quantitative results, we estimate the production function with two coherent techniques including the OLS and 2-SLS. An instrumental variable regression technique is adopted to avoid the endogeneity problem between R&D expenditure and other variables. In our empirical analysis, we find that R&D expenditure has a positive and significant impact on output growth. The finding is robust in both OLS and 2-SLS frameworks. Besides, the output elasticity to R&D expenditure of our result is much higher than the estimated elasticity of other countries. The results imply that a 1% increase in R&D expenditure in Vietnam will help to expand the output more than a 1% increase in R&D investment in other countries. The findings from our paper provide important implications for firm managers, investors, and policymakers in Vietnam.

• The Journal of Asian Finance, Economics and Business
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• 제9권8호
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• pp.183-196
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• 2022

Bank stability serves as a prerequisite for the smooth functioning of economic and financial activities in the country. Banks face numerous risks, and liquidity plays an essential role in determining a bank's long-term growth and financial stability. By using the sample of 70 banks of the Gulf Cooperation Council, this study examines the association between funding the liquidity and the creation of liquidity and their impact on bank stability. Firstly, the reciprocal relationship reveals between funding the liquidity and the creation of liquidity by employing the 2SLS regression model. Further, by employing the dynamic GMM model, the research finds that funding liquidity is significant and positively influences bank stability. However, bank stability is significantly negatively influenced by the creation of liquidity, but the combined effect of funding the liquidity and creation of liquidity positively explains the bank stability. Additionally, this study reveals that managerial optimism biases contribute to determining the bank's liquidity and long-term stability. The finding of this study supports the executives, policymakers, and management of banks in understating liquidity risks, efficiency, and bank stability. The findings support regulatory guidelines mainly by the Basel III framework, which places more importance on the joint management of funding the liquidity and creation of liquidity in the economy.

• 노동경제논집
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• 제30권2호
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• pp.87-118
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• 2007

본 논문에서는 한국직업능력개발원의 "전문대 및 대학 졸업생 경제활동상태 추적조사" 2005년 자료를 주로 이용하여 대학서열화와 노동시장 성과 간의 관계를 지방대 졸업생에 대한 임금차별을 중심으로 분석하였다. 주요 결과로는 첫째, 지방대학 졸업생 월평균 임금은 174.77만원으로 수도권대학 졸업생에 비해 11.5% 낮았으나 지방대학의 낮은 수능점수에 상당 부분 기인하였다. 둘째, 위계선형모형(Hierarchical Linear Model)을 적용하여 학교의 임금효과를 추정한 결과 개인간 임금차이의 12.2%만이 학교간 차이에 기인하는 것으로 나타나 학교효과가 예상보다 작음을 확인하였다. 셋째, 대학 진학시의 선택편의(selection bias)를 고려한 Heckman형 2SLS 임금함수를 추정한 후 Neumark 임금분해를 시도한 결과 수도권대학과 지방대학 졸업생 간 임금격차는 전적으로 수도권대학 졸업생의 인적 속성과 직업 속성상의 우위에 기인하였으며, 특히 수도권에 집중된 상위권 대학의 영향이 결정적으로 작용하였다. 넷째, 분위회귀 기법을 적용하여 임금분위별 지방대생 차별을 분석한 결과 임금분위와 무관하게 대체로 -4.01%~-2.51% 범위의 임금차별이 관찰되었다.

• The Journal of Asian Finance, Economics and Business
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• 제9권3호
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• pp.365-375
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• 2022

This study examines the relationship between board gender diversity and financial performance. The annual data of Palestinian nonfinancial listed enterprises from 2015 to 2019 was analyzed using a longitudinal panel analysis for the study's purposes. When conditional mean regression methodologies were used in the study, the results indicate that there is an insignificant relation between board gender diversity and firm financial performance. However, when analyzing women directors' effect on a firm's financial performance, endogeneity is always a concern, therefore, we test for endogeneity by employing the Darbin-Wu Housman test and then by using 2SLS. Nevertheless, when looking at the dispersion of a firm's performance using quantile regression, the results show that having women on the board improves financial performance slightly, especially for high-financial-performing firms. The findings indicate that there is a legal significant gap hindering the protection of gender diversity in boardrooms, and limiting the existence and representation of women in leadership positions, specifically, board of directors. The results of this study contribute to corporate governance and business culture literature by shedding the light on the importance of board gender diversity, to improve the firm financial performance, and hence, protect the interests of all shareholders' categories.

• 대한치과교정학회지
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• 제27권2호
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• pp.297-313
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• 1997

본 연구는 부산대학교병원 치과교정과에 내원하여 교정 및 악교정수술 복합치료를 시행 받은 환자 총 42명 중 하악에만 수술을 받은 환자 18명과 상하악에 동시에 수술을 받은 환자 24명을 대상으로 하였으며 초진, 수술전, 수술직후, 수술 6개월 경과후의 측모두부방사선규격사진을 채득하고 투사도를 작성하여 계측하였다. 골격, 치아 및 연조직에 대한 분석을 통하여, 수술후 경조직 변화에 따른 연조직 변화를 편악수술군과 양악수술군에서 비교하고 술전교정치료시에 지침이 될 수 있는 상하악절치의 경사도에 대해 연구하여 다음의 결과를 얻었다. 1. 수술직후 양악수술군에서는 상악골 및 상악전치, 상순의 전방과 상방으로의 이동이 두드러졌다. 양군 모두에서 하악골 및 하악절치는 후방이동하였고 하순의 두께가 증가되었으나 두군 사이에 통계학적으로 유의성있는 차이는 없었고 전안모고경은 양악수술군에서 더 많이 감소되었다(p<0.05). 수술 6개월 경과후 편악수술군에서는 상악절치가 1.44mm 전방이동하였고, 하악절치와 하악골도 각각 1.26mm, 1.43mm 전방이동하였으나 양악수술군에서는 유의한경조직의 변화가 없었다. 2. 수술직전과 수술 6개월 경과후 양악수술군에서 상악골의 수평적 변화와 상순의 Sn, SLS, LS의 수평적 변화사이의 상관계수가 0.70, 0.73, 0.70이었고 변화율은 79%, 80%, 82%였다. 하악골의 수평적 변화와 하순의 LI, ILS의 수평적 변화사이의 상관계수는 각각 0.93, 0.94였고 변화율은 89%, 101%였다. 편악수술군에서는 하악골의 수평적 변화와 하순의 LI, ILS의 수평적 변화사이의 상관계수는 각각 0.73, 0.83이었고 변화율은 각각 92%, 104%였다. Pog과 Pog', Me와 Me' 사이의 수평적 변화율은 양군 모두 1:1 이었다. 3. 수술직전과 수술 6개월 경과후 양악수술군에서 상악절치의 수평적 변화와 상순의 Sn, SLS, LS의 수평적 변화사이의 상관계수는 0.72, 0.76, 0.75, 변화율은 각각 57%, 58%, 59%였다. 하악절치의 수평적 변화와 하순의 LI, ILS의 수평적 변화사이의 상관계수는 양악수술군에서 0.93, 0.90, 편악수술군에서 0.71, 0.89였고 변화율은 양악수술군에서 76%, 87%, 편악수술군에서 75%, 85%였다. 4. 편악수술군에서 악골의 전후방 부조화와 상하악절치 경사도사이 에 FMIA = 57.48-2.17 ANB, Ul-SN = -75.02+2.17 SNB의 회귀방정식을 구할 수 있었으며 결정계수는 각각 0.63, 0.63이었다. 양악수술군에서는 SNB와 FMIA, SNB 및 ANB와 U1-SN사이에 회귀방정식을 구할 수 있었으나 결정계수가 0.13에서 0.19사이로 낮아 유의성은 없었다.

• 기술혁신연구
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• 제16권2호
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• pp.1-16
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• 2008

This paper shows that labor mobility is positively related to R&D intensity at the industry level in Korea. Different from the perception based on individual firm-level studies arguing that firms can be reluctant to R&D in fear of the job transfer of employees, firms in industries which have high job transfer of employees turn out not to reduce investment in R&D. This result is also confirmed by 2SLS regression. This result supports that, if there exist spillover effects through the job transfer of employees, job transfer can positively contribute to R&D activities.