• Journal of Korea Trade
• /
• 제23권7호
• /
• pp.128-146
• /
• 2019

Purpose - The purpose of this paper is to investigate the relationship between internal control, economic policy uncertainty, and performance of cross-border merger and acquisition (M&A) based on the panel data of Chinese listed firms. The authors expected that internal control has a positive moderating effect on the performance of cross-border M&A and that it mainly occurs during periods when economic policies are relatively stable. In addition, the authors tried to find out the mechanism of internal control affecting cross-border M&A and the corporate performance. Design/methodology - The authors tested the hypotheses by a multivariate regression model based on the panel data of Chinese listed firms from 2009 to 2017. The dependent variable is the change value of business performance (DROA_1,2,3) and the explanatory variables are cross-border M&A (MA), China's uncertainty of economic policy (EPU), and internal control level (IC) respectively. Findings - The authors find that internal control has a positive moderating effect on the relationship between cross-border M&A and corporate performance. Further, the authors find that the moderating effect is more significant in state-owned enterprises and that it mainly occurs during periods when economic policies are relatively stable. Originality/value - This paper is the leading study that tries to analyze empirically the relationship between internal control, economic policy uncertainty, and performance of cross-border M&A. It provides a new avenue through which internal control might reasonably mitigate the risks of cross-border M&A and correspondingly improve the performance of cross-border M&A. It also confirms the moderating effect of internal control on the performance of cross-border M&A under the uncertainty of economic policy.

• 융복합기술연구소 논문집
• /
• 제5권1호
• /
• pp.33-36
• /
• 2015

In recent years, developed and developing country such as U.S., Japan, and China push forward to enhance their manufacturing industry through national policies such as advanced manufacturing(U.S.), Industrie 4.0 (Germany), and Made in China 2025. Also, in Korea, Ministry of Trade, Industry, and Energy(MOTIE) claimed Manufacturing3.0 for encouraging domestic manufacturing industry. Manufacturing industry plays an important role in encouraging economy and employment. In this paper, we survey, analyze and summarize the current national policy for enhancing manufacturing industry.

• 무역학회지
• /
• 제41권3호
• /
• pp.177-198
• /
• 2016

중국은 1979년부터 본격적으로 시장경제체제를 도입함으로써 급격한 경제성장을 이루었는데, 본고는 저임금과 중국정부의 적극적인 외자유치정책을 활용하기 위해 밀려들어온 외국인투자에 어떤 요인들이 영향을 미쳤는지를 검토하기 위해 1979년부터 2013년까지의 패널데이터를 이용해서 각 성·시의 고유한 특성까지 활용하는 실증분석을 시도한다. 실증분석을 위해 본고는 확률효과모형, 고정효과모형, Pooled OLS, 그리고 확률계수모형을 사용하는데, Pooled OLS와 확률계수모형의 결과는 본 연구의 분석결과와 비교를 위해서 제시된다. Hausman' test 결과 Random Effect Model보다는 Fixed Effect Model이 더 효율적인 분석결과를 제시하는 것으로 나타나 이를 근거로 중국정부에 대한 정책적 시사점을 제시한다. 분석결과는 FDI유입에 각 성·시의 지역소득수준, 자본량, 통신비는 긍정적인 영향을 미치고 고속도로는 부정적인 영향을 미치는 것으로 나타난다.

• Journal of Korea Trade
• /
• 제23권7호
• /
• pp.34-44
• /
• 2019

Purpose - The purpose of this study is to present what the port of Pyeongtaek, the hub of Korean trade with China, should improve in the current situation, wherein the e-commerce trade volume between Korea and China is increasing due to the development of online technology. Design/methodology - In this study, through prior research and expert interviews on e-commerce and port activation between borders, we derived the main improvement factors for 1) Administration and Systems, 2) Facilities, 3) Transport, and 4) Manpower, and selected 12 detailed variables for the major improvement factors. To identify the relative importance of the major improvement factors, the Analytic Hierarchy Process (AHP) method was applied, and a survey was conducted among 15 related experts. Findings - As a result, among the 12 detailed variables, Composition of Association (0.267) was the first factor to be improved, followed by Incentive Support (0.143) and E-Commerce Cluster (0.131). Based on these analyses, the main implications of this study are, first, in the current situation where the cross-border e-commerce market is growing, Pyeongtaek Port needs to form a consultative body among the government, local governments, and related businesses in connection with cross-border e-commerce and develop various support policies for the e-commerce market. Second, it will have to be able to provide differentiated services from competing ports by establishing e-commerce market-oriented clusters. Originality/value - In existing related studies, various improvements were presented to revitalize trade in line with the growth of the cross-border e-commerce market. However, with regard to most cross-border e-commerce businesses, one-dimensional improvement measures, such as improvement of payment systems, improvement of customs clearance services, and promotion of human resources, are presented in a piecemeal manner. In other words, none of the studies have proposed the importance and priority of each measure in terms of both the forward-looking and efficient allocation of resources, which is the purpose of this study. Therefore, this study contributed politically, practically, and academically by presenting countermeasures for ports to revitalize cross-border e-commerce and presenting strategic priorities using quantitative analysis methods.

• East Asian Economic Review
• /
• 제20권3호
• /
• pp.279-309
• /
• 2016

The proposed Trans-Pacific Partnership (TPP) is a free trade agreement among 12 Pacific Rim countries whose joint gross domestic products (GDPs) account for 36 percent of world GDP and whose mutual trade accounts for approximately 24 percent of world trade. As for most proposed free trade agreements (FTAs), trade economists have provided ex ante computable general equilibrium (CGE) estimates to predict the trade, employment, and real per capita income effects of this agreement, such as ITC (2016). This paper-intended to complement these studies-examines the potential impacts of TPP beyond such traditional CGE estimates, taking a broader economic, governance, and historical perspective. First, we contrast these traditional CGE trade and welfare estimates that treat all firms within an industry as homogeneous with more recent CGE analyses that allow firms' productivities to be heterogeneous. We show that the latter models' trade predictions are much more consistent with ex post empirical evidence of average trade effects of FTAs. Second, empirical evidence now strongly confirms the existence of FTA "contagion." We review this evidence and show that predictive models of the evolution of FTAs indicate that the TPP should be formed. With China now having formed 12 FTAs and negotiating five new ones (including a sixteen member Asia-Pacific FTA), the United States would likely face considerable trade diversion without the TPP. Third, we examine empirical evidence on the likely further economic growth implications of FTAs by reducing firms' uncertainty over trade relations and trade policies. Fourth, we examine empirical evidence on the additional impact of FTAs on consolidating democratic institutions in countries. The TPP would likely help consolidate some of the less mature democracies. Fifth, we examine empirical evidence on the reductions of conflicts (and enhanced peace) between countries owing to the formations of FTAs. We conclude the paper noting that the potential net benefits to member countries of the proposed TPP extend well beyond the real income gains to households based upon traditional CGE models.

• 대한예방한의학회지
• /
• 제16권2호
• /
• pp.53-65
• /
• 2012

Objectives : This study aimed to analyze the fundamentals of a Korea-China FTA and suggest strategies for Korean medicine market that correspond with each scenario selected from foreseen circumstances after the conclusion of the FTA through the scenario planning, which is one of management techniques. Methods : Four scenarios have been established by means of key questions : the scope of FTA, health care policies, and the combination of western medicine(WM) and Korean medicine(KM). Each scenario is defined as the Maximized Competitive Market, Neutral Market, General Completive Market, and Conservative Market. This study suggests brand marketing, extending of health insurance coverage, launching local network, and strategy for Korean medicine based health promotion programs. Results and Conclusions : Although Korean medicine could be prompted by the trade policies between countries, related studies are very limited. Therefore, more research is needed to suggest the detailed strategies for change of Korean medicine market through various strategic analysis tools.

• 유통과학연구
• /
• 제14권1호
• /
• pp.59-66
• /
• 2016

Purpose - The purpose of this study is to find out how shipping company recognizes making partnership with the third party logistics provider and to give implication. Research design, data and methodology - Personal interview and questionnaire by E-mail, Fax, Mail, and telephone were used. 700 copies of the questionnaires were distributed and 155 copied were returned. Among collected questionnaires, 20 copies were excluded because of insufficient content, and therefore 135 copies were used. Results - Korea should change into new paradigm from old one based on current economic and social systems which has stemmed from bureaucracy, inflexibility chauvinism and equalitarianism. Flexible policies, administration and systems will be needed for better business practices. The Domestic logistics corporation needs to preoccupy strategic logistics hub and network. Conclusions - To be a center of North East Logistics, Korea needs more reasonable business law, systems and policies. Social norms and orders should be established to accomplish political and social security. A paradigm of the policy ruling over development of capital city and satellite cities shall make change.

• 한국IT서비스학회지
• /
• 제22권6호
• /
• pp.1-15
• /
• 2023

This study compares and analyzes the legal systems of Korea, the European Union, China, and the United States based on the disclosure principles and processing policies for personal data processing and provides references for seeking improvements in our legal system. Furthermore, this research aims to suggest institutional implications to overcome data transfer limitations in the upcoming digital economy. Findings on a comparative analysis of the relevant legal systems for disclosing privacy policies in four countries showed that Korea's privacy policy is under the eight principles of privacy proposed by the OECD. However, there are limitations in the current situation where personal information is increasingly transferred overseas due to direct international trade e-commerce. On the other hand, the European Union enacted the General Data Protection Regulation (GDPR) in 2016 and emphasized the transfer of personal information under the Privacy Policy. China also showed differences in the inclusion of required items in its privacy policy based on its values and principles regarding transferring personal information and handling sensitive information. The U.S. CPRA amended §1798.135 of the CCPA to add a section on the processing of sensitive information, requiring companies to disclose how they limit the use of sensitive information and limit the use of such data, thereby strengthening the protection of data providers' rights to sensitive information. Thus, we should review our privacy policies to specify detailed standards for the privacy policy items required by data providers in the era of digital economy and digital commerce. In addition, privacy-related organizations and stakeholders should analyze the legal systems and items related to the principles of personal data disclosure and privacy policies in major countries so that personal data providers can be more conveniently and accurately informed about processing their personal information.

• 통상정보연구
• /
• 제14권1호
• /
• pp.221-246
• /
• 2012

무역관련투자조치(TRIMs)협정은 산업정책의 일환으로서 어느 국가가 외국 투자가에게 적용하는 국내규제와 관련된 규칙이다. 이 협정은 WTO의 모든 가입국이 합의한 내용이다. 이 협정은 국내제품에 유리한 법, 정책 또는 행정적 규정을 적용하는 것을 금지한다. 이것은 국내적으로 지역산업을 보호하는 방법으로서 제품을 생산한 것을 사용하는 기업을 조력하기 위한 정부의 인센티브도 포함한다. 이 협정은 WTO 체제 내에서 유일한 제한조치이다. 지역의 무역균형규칙과 같은 정책은 국내산업의 이익 증진과 현재는 경쟁적으로 제한하는 기업관행은 금지되어 있지만, 과거에는 활용되어 왔다. 여러 면에서 WTO-TRIMs 협정은 서비스 등에 관한 WTO 협정보다 그다지 중요한 협정은 아니다. TRIMs 협정은 전혀 새로운 규칙이 아니며 기존의 GATT 규정에서 정한 것을 언급하고 있을 뿐이다. 그러나 GATT 규정과는 달리 내국민대우에 관해서는 강경하게 규정하고 있으며, 또한 WTO-TRIMs 협정은 자동차 부품 등에 관해서는 광범위한 효과를 가지게 되었다. 한편 중국은 2001년 뒤늦게 WTO 회원국이 되어 한때 수입부품에 대한 고율의 관세를 부과한 조치는 고율의 관세를 회피하려는 자동차 부품 수입업자들을 규제하기 위한 것이었다. 본 연구에서는 중국의 WTO TRIMs 협정 위반 분쟁사례에 대해 중국의 자동차 부품 사례를 중심으로 분석하고 있다.

• 항공우주정책ㆍ법학회지
• /
• 제22권2호
• /
• pp.135-154
• /
• 2007

The 3 Northeast Asian countries of Korea, Japan and China have been stricter to each other than to other countries of out-region in air liberalization. The prominent reason of this intra-regional protective policy in air transportation seems to be the difference in competitive strength of their national flag carriers. As the 3 countries realize the importance of their mutual cooperation in the region, since China grows to be one of the leading economies in the world and the intra-regional trade and visitors increase tremendously, they are now taking the policy of intra-regional air liberalization more vigorously than before. Especially air cargo liberalization is easier than air passenger liberalization because they realize that the development of open economy is based on free flow of logistics regardless of the competitiveness of their national flag carriers. As Korea is the leading country in the region to promote air liberalization, this paper reviews the importance and growing trend of air cargo, analyzes current air liberalization policy between Korea, Japan and China and the initial effects of open sky in the routes of Shandung-Korea, and suggests the new policies of air liberalization to promote free flow of air logistics.