• Journal of Korea Technology Innovation Society
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• v.10 no.3
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• pp.383-405
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• 2007

In this paper we estimate knowledge production function for 15 South Korean industry sectors using panel data. To accommodate the influence of inter-sectoral interactions on the creation of knowledge, we estimate parameters for related knowledge production functions using the Dynamic Seemingly Unrelated Regression(DSUR) model proposed by Mark et al. (2005). We find the elasticity of knowledge production with respect to the size of research staff to be 0.25 and that with respect to the existing stock of knowledge to be 0.35. The fact that the elasticity of new knowledge creation with regard to the existing knowledge stock is below 1 in South Korea corroborates the view that the rate of long-term growth of her economy is chiefly determined by the elasticity related to production functions of goods and services and the rate of population growth, and that her government policy, to ensure a continued growth for the Korean economy, must shift the focus of R&D policies from the current direct intervention-centered model to one consisting of indirect measures, namely supporting knowledge management and diffusion and the creation of a knowledge sharing system. In terms of R&D policy implications it could be consider that the national knowledge production system should strengthen the cumulative process of knowledge accumulation and population for research and development. Our country R&D policy, also, need to adopt a global approach to increase knowledge stock at the highest levels of a country.

• The Journal of Sustainable Design and Educational Environment Research
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• v.15 no.2
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• pp.13-22
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• 2016

The purpose of this study is to provide a basis for determining when a school established long term school plans accepted by analyzing the trend of increase or decrease elementary school students 30 years to target of Daejeon Metropolitan City. Most were analyzed for land development area of Yuseong-Gu, and most of the old downtown area of Dong-Gu for this purpose. Results of this study are as follows: First, the results of this research to analyze the number of students increase or decrease trend forecasting model specific case in residential development projects in the district are Model8 4 schools (11.8%) in Yuseong-Gu were compared higher than one schools (4.3%) in the Dong-Gu. This suggests the need for a cautious approach in the planning of schools accommodated in a large housing development district. Second, large-scale land development trend analysis results Students sensitized Yuseong-Gu business district is followed by a new school in 11 schools (29.7%), Old town in Dong-Gu, which is contrary 13 schools (56.5%) were in a downturn.

• Journal of Korea Technology Innovation Society
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• v.20 no.2
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• pp.368-386
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• 2017

The purpose of this study is to present the technology value model based on profit approach and IITP practical guide for Ethernet network technology, which is the core technology of autonomous vehicles and connected cars in the hyper-connected industry. In-vehicle network, Ethernet technology, Ethernet port count, port pricing, and application data for technology assessment are sources of global market research organizations. The data on the company's COGS (Cost of Goods Sold), operating capital requirement, capital expenditure, and income statement data are used by the Bank of Korea's Business Analysis Report. According to the results of the study, the product market size was estimated to be US $470.3 billion and the technology market size was $52.1 billion over the seven years of economic life cycle of technology. The market value of the technology was estimated to be $260 million reflecting the possibility of entry into the market. In the case of the corporate management analysis report, the average value of the IITP and the top 25% were $0.7 million and $40.2 million, respectively. -27.8 million, and -73.6 million dollars respectively. This implies that government support for policy support is needed when conducting corporate R&D with high cost-to-sales ratio. The results of this study can be used as a reference for the evaluation of technology demand based ICT R&D technology in the industrial internet market in the fourth industrial revolution era.

• The Korean Journal of Franchise Management
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• v.10 no.3
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• pp.25-35
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• 2019

Purpose - The major objective of this study was to investigate the effect of franchisor's (economic and philanthropic) CSR in inspiring franchisee's loyalty for the franchisor. Another aim of this investigation also was to clarify the mediating role of economic and social satisfaction in the relationship between franchisor's CSR and franchisee's loyalty. Research design, data, and methodology - This study explores the structural relationship between franchisor's CSR and franchisee's loyalty and in these relationships, the mediating role of relationship satisfaction. Data were gathered from employees(above manager) in food-service franchisee companies in Seoul, Korea. The questionnaires were distributed to managers of the franchise stores. A total of 251 questionnaires were collected. Data management and analysis were performed using SPSS 21.O and SmartPLS 3.0. Evaluation of measurement model and structural model was carried out using confirmatory factor analysis and correlation analysis. Result - The results of this study show as follows. First, economic CSR had positive effects on economic satisfaction and social satisfaction. Second, philanthropic CSR had positive effects on social satisfaction. Third, economic satisfaction and social satisfaction had positive effects on franchisee's loyalty to the franchisor. Conclusions - The important implications of this study have as follows. First, this study has found that economic CSR can create a high economic satisfaction and social satisfaction of franchisee. Second, this findings suggest that the philanthropic CSR can improve the social satisfaction of franchisee. Third, this results demonstrate, for the first time, that the economic satisfaction and social satisfaction of franchisees can play a crucial role to improve their loyalty for the franchisor and pursue mutual development by maintaining the stable business relationship with a franchisor. In this investigation there are at least three limitations. First, Because the research sample is limited to the foodservice franchisee in Seoul, it is not possible to be representativeness of the national franchisee. Second, CSR activities are mostly focused on large franchise companies. Therefore, there is a limit to the research approach. Finally, this study examined the effect of economic CSR and philanthropic CSR on the loyalty of franchisors, but in the future study, it is necessary to analyze the relationship between CSR and loyalty of franchise companies by collecting specific quantitative data such as re-contract rate and management performance of franchisees.

• Knowledge Management Research
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• v.23 no.1
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• pp.89-109
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• 2022

Due to COVID-19 and soaring participation of individual investors, large-scale transactions exceeding system capacity limits have been reported frequently in the capital market. The capital market IT systems, which the impact of system failure is very critical, have encountered unexpectedly tremendous transactions in 2020, resulting in a sharp increase in system failures. Despite the fact that many companies maintained large-scale system capacity planning policies, recent transaction influx suggests that a new approach to capacity planning is required. Therefore, this study developed capital market IT system capacity planning models using machine learning techniques and analyzed those performances. In addition, the performance of the best proposed model was improved by using sentiment index that can promptly reflect the behavior of investors. The model uses empirical data including the COVID-19 period, and has high performance and stability that can be used in practice. In practical significance, this study maximizes the cost-efficiency of a company, but also presents optimal parameters in consideration of the practical constraints involved in changing the system. Additionally, by proving that the sentiment index can be used as a major variable in system capacity planning, it shows that the sentiment index can be actively used for various other forecasting demands.

• Journal of Korea Trade
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• v.27 no.1
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• pp.139-158
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• 2023

Purpose - The study of co-movements between stock markets is a crucial area of finance and has recently received much interest in a variety of studies, especially in international finance. Stock market co-movements are a major phenomenon in financial markets, but they are not necessarily independent of the real market. Several studies support the idea that bilateral trade linkages significantly impact stock market correlations. Motivated by this perspective, this study investigates whether real market integration due to trade agreements brings about financial market integration in terms of stock market co-movement. Design/methodology - Over the 10 free trade agreements (FTAs) signed by the United States, using a dynamic conditional correlations (DCC) multivariate GARCH (MGRACH) model, we empirically measure the degree of integration by finding DCCs between the US market and the partner country's market. We then track how these correlations evolve over time and compare the results before and after trade agreements. Findings - According to the empirical results, there are positive return spillover effects from the US market to eight counterpart equity markets, except Jordan, Morocco, and Singapore. Especially Mexico, Canada, and Chile have large return spillover effects at the 1% significance level. All partner countries of FTAs generally have positive correlations with the US over the entire period, but the size and variance are somewhat different by country. Meanwhile, not all countries that signed trade agreements with the United States showed the same pattern of stock market co-movement after the agreement. Korea, Mexico, Chile, Colombia, Peru, and Singapore show increasing DCC patterns after trade agreements with the US. However, Canada, Australia, Bahrain, Jordan, and Morocco do not show different patterns before and after trade agreements in DCCs. These countries generally have the characteristic of relatively lower or higher co-movements in stock markets with the US before the signing of the FTAs. Originality/value - To our knowledge, few studies have directly examined the linkages between trade agreements and stock markets. Our approach is novel as it considers the problem of conditional heteroscedasticity and visualizes the change of correlations with time variations. Moreover, analyzing several trade agreements based on the United States enables the results of cross-country pairs to be compared. Hence, this study provides information on the degree of stock market integration with countries with which the United States has trade agreements, while simultaneously allowing us to track whether there have been changes in stock market integration patterns before and after trade agreements.

• Asia Marketing Journal
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• v.16 no.1
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• pp.35-69
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• 2014

The impact of competition on pricing has been studied in the context of counterfactual merger analyses where expected optimal prices in a hypothetical monopoly are compared with observed prices in an oligopolistic market. Such analyses would typically assume static decision making by consumers and firms and thus have been applied mostly to data obtained from consumer packed goods such as cereal and soft drinks. However such static modeling approach is not suitable when decision makers are forward looking. When it comes to the markets for durable products with indirect network effects, consumer purchase decisions and firm pricing decisions are inherently dynamic as they take into account future states when making purchase and pricing decisions. Researchers need to take into account the dynamic aspects of decision making both in the consumer side and in the supplier side for such markets. Firms in a two-sided market typically subsidize one side of the market to exploit the indirect network effect. Such pricing behaviors would be more prevalent in competitive markets where firms would try to win over the battle for standard. While such qualitative expectation on the relationship between pricing behaviors and competitive structures could be easily formed, little empirical studies have measured the extent to which the distinct pricing structure in two-sided markets depends on the competitive structure of the market. This paper develops an empirical model to measure the impact of competition on optimal pricing of durable products under indirect network effects. In order to measure the impact of exogenously determined competition among firms on pricing, we compare the equilibrium prices in the observed oligopoly market to those in a hypothetical monopoly market. In computing the equilibrium prices, we account for the forward looking behaviors of consumers and supplier. We first estimate a demand function that accounts for consumers' forward-looking behaviors and indirect network effects. And then, for the supply side, the pricing equation is obtained as an outcome of the Markov Perfect Nash Equilibrium in pricing. In doing so, we utilize numerical dynamic programming techniques. We apply our model to a data set obtained from the U.S. video game console market. The video game console market is considered a prototypical case of two-sided markets in which the platform typically subsidizes one side of market to expand the installed base anticipating larger revenues in the other side of market resulting from the expanded installed base. The data consist of monthly observations of price, hardware unit sales and the number of compatible software titles for Sony PlayStation and Nintendo 64 from September 1996 to August 2002. Sony PlayStation was released to the market a year before Nintendo 64 was launched. We compute the expected equilibrium price path for Nintendo 64 and Playstation for both oligopoly and for monopoly. Our analysis reveals that the price level differs significantly between two competition structures. The merged monopoly is expected to set prices higher by 14.8% for Sony PlayStation and 21.8% for Nintendo 64 on average than the independent firms in an oligopoly would do. And such removal of competition would result in a reduction in consumer value by 43.1%. Higher prices are expected for the hypothetical monopoly because the merged firm does not need to engage in the battle for industry standard. This result is attributed to the distinct property of a two-sided market that competing firms tend to set low prices particularly at the initial period to attract consumers at the introductory stage and to reinforce their own networks and eventually finally to dominate the market.

• Knowledge Management Research
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• v.25 no.1
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• pp.89-109
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• 2024

The development of digital technology has given rise to a new service model: self-service. This model introduces the concept of "digital shadow work", in which consumers conduct unpaid behind-the-scenes digital tasks instead of employees. While consumers are engaging in increasingly more digital shadow work in self-service environments, they are unaware of their unpaid labor. This raises concerns about consumer rights and businesses' long-term sustainability and health. This study aims to reveal the psychological awareness factors that influence consumers' decisions to engage in digital shadow work in self-service environments. This exploratory qualitative study utilizes a grounded theory approach and semi-structured interviews to reveal the psychological awareness factors that contribute to consumers' decision to engage in digital shadow work. By revealing the psychological awareness of decision-making factors, this study enhances consumer's understanding and awareness of digital shadow work, which helps increase their awareness of self-protection in the context of self-service technologies. Additionally, understanding consumers' decision-making psychology is crucial for non-face-to-face self-service technology companies and provides a theoretical basis for sustainable and healthy business development.

• Information Systems Review
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• v.26 no.1
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• pp.19-56
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• 2024

This study is empirical research to enhance understanding of AI (artificial intelligence) training data project in South Korea. It primarily focuses on the various concerns regarding data quality from policy-executing institutions, data construction companies, and organizations utilizing AI training data to develop the most reliable algorithm for society. For academic contribution, this study suggests a theoretical foundation and research model for understanding AI training data quality and its antecedents, as well as the unique data and ethical aspects of AI. For this purpose, this study proposes a research model with important antecedents related to AI training data quality, such as data attribute factors, data building environmental factors, and data type-related factors. The study collects 393 sample data from actual practitioners and personnel from companies building artificial intelligence training data and companies developing artificial intelligence services. Data analysis was conducted through Fuzzy Set Qualitative Comparative Analysis (fsQCA) and Artificial Neural Network analysis (ANN), presenting academic and practical implications related to the quality of AI training data.

• Journal of Technology Innovation
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• v.20 no.2
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• pp.75-107
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• 2012

Previous researches on technological innovation have several limitations such as lack of general mechanism for technological innovation(inputs, throughputs and outputs of technological innovation), large company oriented studies, and ignoring importance of technology management capabilities. So, this study suggested a new model using resource-based theory and system theory, and empirically applied that to SMEs. Structural equation model analysis by using 223 SMEs in Daegu region provided a support for most of hypotheses. Research results showed that all of factors on technological innovation were significantly and positively related with each other: inputs(R&D leadership, innovation strategy, R&D investment, R&D human resource management, external network), throughputs(portfolio management, project management, technology commercialization) and output(technological innovation). In case of technological innovation inputs, R&D leadership influenced on innovation strategy positively and significantly. And R&D leadership and innovation strategy had positive and significant effects on R&D investment, R&D human resource management and external network. R&D human resource management and external network exerted positive and significant influences on technological innovation throughputs such as portfolio management and project management. But R&D investment did not significant impacts on technological innovation throughputs. Among technological innovation throughputs, both portfolio management and project management had positive and significant effect on technology commercialization. In addition, technology commercialization acted positively and significantly technological innovation output. This study suggests necessary of efforts to implement innovation strategy and manage R&D human resource effectively based on CEO's innovativeness and entrepreneurship. Also, if SMEs want to develop technology and commercialize it, they have to cooperate with external technology resources and informations. Research results revealed that proper level of R&D investment, internal and external communication, information sharing, and learning and cooperative culture were very important for improvement of technological innovation performance in SMEs. Especially, this research suggested that if SMEs manage technological innovation process effectively based on resource-based and system approaches, then they can overcome their resource limitations and gain high technological innovation performance. Also, useful policy support for technological innovation of central or regional government by this research model is important factor for SMEs' technological innovation performance.