• KIEAE Journal
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• v.15 no.6
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• pp.63-68
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• 2015

Purpose: Most if buildings need various repair works for preventing or delaying the deterioration which gives rise to affect the living condition or function after constructed. Therefore, a long-term repair schedule should be planned and a repair cost is required. In this paper, it aimed at providing the statistical forecast model for a repair cost in roof water-proofing work and elevator work using statistical approach with three variables such as number of household, management area and a elapsed year. Data are collected in apartment housings which are located in Seoul area and conducted with interview and questionnaire sheet. Each analyzed work is divided into a partly work and fully work. Results of this study are shown that, first, the regression model takes a multiplying type like a Cobb-Douglas function and is changed into the log-linear type to include the three variable simultaneously. Second, the goodness-of-fit of the repair cost forecasting model has a good statistics in determinant's coefficient and Dubin-Watson value. Third, the management area is stronger factor than other the number of household and an elapsed year in roof water-proofing work and elevator work.

• Journal of the Korean Operations Research and Management Science Society
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• v.30 no.4
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• pp.15-25
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• 2005

As implied by the terms of IT productivity Paradox, measuring the Information technology contribution to economic performance has been one of the challenging issues to both policy makers and business professionals. As such, diverse attempts with sophisticate analyses have been reported in the literature to analyze the effect of IT contributions. In this paper, we follow Growth Accounting Method to measure the IT contribution effect to manufacturing firm's economic performance in Korea. Various regression methods and statistical analyses are applied with fourteen years of industry Panel data. Using the Cobb-Douglas function, time lag analysis is made to understand IT effect to economic growth. Instead of capturing data from individual firm, industry level data from the National Statistics Bureau is used for IT capital, non-IT capital, and so on. Statistical analysis following the panel unit test and Panel co-integration test was performed to reveal the exact effect of IT contribution to economic performance. Empirical testing results for non-stationary nature of IT investment effect are reported as well as IT contribution to manufacturing industry's economic performance.

• Journal of Korean Society of Rural Planning
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• v.20 no.3
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• pp.67-74
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• 2014

The purpose of this study is to estimate regional economic effects of spatial diffusion of wildfire using Cobb-Douglas production function of agriculture and forestry. The analysis is applied to Gangwon and Gyeongbuk provinces where are the most damaged of wildfire in Korea. The damaged areas are derived from multiplied by the occurrence probability of wildfire and diffusion areas of wildfire for micro-spatial unit level with ArcGIS techniques. The models of wildfire provides that the spatial diffusion of wildfire increases with the rising of highest temperature and average wind speed. Through the production function, value added of Agriculture and Forest sectors get damaged where the Cos-converted slope aspect of mountains are toward the South. The production model provides reductions of regional value added by increasing damaged areas of wildfire. It reveals that the most damaged region is Andong city in Gyeongbuk province, where value added loss is 1.25 billion Won, which is about 0.72% of total value added in agriculture and forestry of the city. As a view of policy makers, it needs to be considered to establish prevention policies against wildfires because regional economic losses from wildfire are depending on geographical conditions and performances of the major industry related to wildfire's diffusion such as agriculture or tourism sector according to the result of analysis.

• The Journal of Industrial Distribution & Business
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• v.9 no.4
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• pp.19-26
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• 2018

Purpose - This study measures how competitive securities broker-dealers are in the Korean financial markets. It aims to test whether the markets are perfectly competitive or monopolistic since the global financial crisis of 2008. Research design, data, and methodology - We apply the method developed by Panzar and Rosse (1987), H-statistics, which offers an index for the competitiveness as well as statistical tests. The dataset in use is retrieved mainly from the quarterly statements of the financial services companies by the Financial Statistics Information System of the Financial Supervisory Service. General information on officers and employees is utilized in addition to balance sheets and income statements of securities companies. Results - H-statistics for 2009-2015 is about 0.7 that is a robust estimate regardless of model specifications such as full trans-log, partial trans-log, and Cobb-Douglas regression equations. H-statistics for each year is also computed in similar ways in that it varies between 0.3 and 0.9. Conclusions - Since the global financial crisis, H-statistics concludes that securities broker-dealer markets in Korea is neither perfectly competitive nor monopolistic. It evidences that the markets are rather monopolistically competitive. The trend in annual H-statistics leads to the same conclusion but the result is not such stable that overall H-statistics implies.

• STI Policy Review
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• v.8 no.1
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• pp.1-22
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• 2017

There has been a pronounced increase in research and development (R&D) expenditure in Singapore over the last two decades, with government spending accounting for a sizeable share. This increase has been spurred by public policy emphasis on research and innovation as engines of economic growth. This paper analyses the impact of R&D on economic performance in Singapore from 1978 to 2012 through the use of time series analysis. The Cobb-Douglas based analysis shows a long-run equilibrium relationship between Total Factor Productivity (TFP) and R&D investments. We found that the short-run productivity of R&D in Singapore is comparable to smaller advanced economies in the Organisation for Economic Co-operation and Development (OECD). However, in terms of long-run R&D productivity, Singapore lags slightly behind the smaller OECD nations and far behind the G7 countries. This suggests leakage of value capture and low absorptive capacity in local firms. Possibility of productivity improvements induced by policy changes in the 1990s was considered, but no evidence of significant structural breaks was found. Lastly, Granger causality analysis reveals that public sector R&D augments private sector R&D capital, thus playing an important role in generating externalities and spillover effects. Policy implications and lessons for other middle-income countries are discussed.

• Journal of the Korean Data and Information Science Society
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• v.6 no.1
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• pp.1-11
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• 1995

The parameters in the multiplicative model $Y_{1}={\alpha}_{0}{\prod}^{p}_{k=1}X_{kj}^{{\beta}_K}v_{j}$ are usually estimated by the least squares method after logarithmic transformation, and the least square Estimator of ${\alpha}_{0}$ is known to be biased, i.e., $E(e xp(\hat{\beta}_{0})){\neq}{\alpha}_{0})$. In the present study the unbaised estimators of ${\alpha}_{0}$ are examined(1) by modifying the least squares estimator and (2) by applying the Finney's results. The variances are also compared. In addition it has been observed that multiplicative model can be used to express the relationship beetween rice yield and yield components.

• Journal of Distribution Science
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• v.19 no.3
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• pp.15-23
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• 2021

Purpose: This study aims to identify the role of technological progress in the distribution sector in Saudi Arabia. Research design, data, and methodology: The study applies the Autoregressive Distributed Lag (ARDL) approach to estimate the Cobb Douglas production function of the wholesale and retail trade sector in Saudi Arabia, relied on annual data from the General Authority for Statistics from 2005 to 2019. Results: The results show that there is a long run relationship between the production of the wholesale and retail trade sector in KSA and the factors of production labour, capital and technology progress. The elasticity of the wholesale and retail trade production with respect to capital and labour are 0.26 and 0.78 respectively; the coefficients are positive and statistically significant. The wholesale and retail trade sector is operating under increasing returns to scale. The main result indicates that the elasticity of the wholesale and retail production with respect to the technology progress is 4.62%, which is positive and statistically significant. Conclusions: The study concluded that technological progress has a positive contribution to the growth of the distribution sector in KSA. Therefore, the technological progress can improve the productivity and efficiency of the resources allocated to the dis.

• Journal of the Economic Geographical Society of Korea
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• v.10 no.4
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• pp.414-426
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• 2007

The purpose of this study is to analyze whether the spatial externalities of agglomeration economy of manufacturing has been changed or not, from 1991 to 2005. To find this spatial SUR model was used to consider covariance of each equation and it was estimated by 3SLS. This paper found that spatial externalities has been decreased and there is economy of scale in same sector. As a result, we can conclude that there is industrial specialization in region whereas interregional linkage are weaken. This finding supports the desirability of creating supra-regional agencies promoting interregional linkage because supra-regional agencies can internalize spatial externality of agglomeration economy.

• Korean Management Science Review
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• v.31 no.2
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• pp.49-63
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• 2014

With the huge concerns on the inefficiency of public enterprises, particularly a significant amount of debt, an increasing number of studies have been carried out to analyze the levels of inefficiency and investigate the causes of that inefficiency. However, very limited range of analytical methodologies have been used in the efficiency analysis and moreover, the effects of external factors have been little addressed. This study explores the efficiency of urban railway corporations in Korea by utilizing a method of stochastic frontier analysis (SFA). In particular, the potential effects of external factors including residential and floating populations of a station were statistically analyzed. A total of seven Korean urban railway corporations were selected to compare each other in terms of operational efficiency. The results present three important findings. First, the Cobb-Douglas model was found to be more valid for SFA compared to the Translog model. Second, the efficiencies of urban railway corporations in Seoul and Busan are relatively high whereas those of Daejeon and Gwangju are very low in efficiency in the area of sales revenue. In an aspect of number of transport of passengers, Gwangju Metro also showed the lowest efficiency. Third, the external factors are significantly associated with the efficiency, indicating that the efficiencies of Daejeon Metro and Gwangju Metro would increase while the efficiency of Seoul Metro would decreases when the external variables are excluded in the efficiency analysis. The results provide several meaningful implications for managers of the urban railway corporations as well as policy makers who are attempting to resolve the inefficiency problems of public enterprises.

• Journal of Preventive Medicine and Public Health
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• v.24 no.3 s.35
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• pp.400-413
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• 1991

The purpose of this paper is to identify factors affecting the optimum mix of required inputs and other relevant factors which account for the variation in physician's productivity in general hospitals, and to find out their implications for the efficient health planning and management. An extended version of Cobb-Douglas production function and cross sectional data of one day patient census from all general hospitals in Korea in 1988 were used in the analysis. Main results of the analysis and their implications could be summarized as follows : (1) The production function for physician's inpatient service shows the evidence of economies of scale, but the production function for physician's outpatient and adjusted-patient service, which combines both out- and in-patient service, shows that of dis-economies of scale. (2) The physician's role for production for all service is smaller than auxiliary personnel's, which imply that more intensive utilization of nurses, nursing aides and other auxiliary personnel is desirable for improving general hospital productivity (3) In case of physician's inpatient and adjusted-patient service, nurses' role is greater than nursing aides'. Therefore, more extensive utilization of nurses is recommended for the efficient operation of general hospitals. (4) The factor of hospital beds plays the leading role among required inputs in the production for physician's in- and adjusted-patient service. (5) The physician's productivity of general hospitals in rural area is lower than that in urban area. And the productivity of teaching hospitals is lower than that of the other hospitals. Further analysis was made in physician production function based upon the size of hospitals, namely those hospitals below 250 beds and those above. Explained variances by the factor of hospital beds was significantly increased in the case of those hospitals above 250. A more detailed and thorough investigation is needed for verifying factors influencing physician's productivity in general hospitals in Korea.