• 산경연구논집
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• 제9권1호
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• pp.25-38
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• 2018

Purpose - The purpose of this study is to empirically investigate the impact of donor's fiscal status on aid decisions before and after the 2008 global financial crisis. The effects on aid can change depending on the donor country's fiscal status and the period of financial crisis. Research design, data, and methodology - A fixed effect regression and dynamic panel GMM is conducted using a comprehensive dataset combining 31 donor and 167 recipient countries during 1996-2015. The key explanatory variable is central government debt-to-GDP ratio of donor country. Recipient countries' GNI per capita, population, governance indicators, and bilateral trade-to-GDP ratio between donor and recipient countries are included as control variables. Results - We can confirm the relationship between donor country's fiscal status and aid flow. The cyclical component of government debt is found to have a negative impact on grant decisions particularly after the 2008 global financial crisis. This effect becomes larger in the countries with high government debt-to-GDP ratio. ODA decisions from the countries with low financial constraint do not significantly affected by the recipient countries' factors such as GNI, population, and governance indicator. Conclusions - Based on the empirical results of this study, the source of aid should be diversified by incorporating private sector and innovative financing sources.

• The Journal of Asian Finance, Economics and Business
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• 제9권4호
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• pp.419-429
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• 2022

The aim of this research is to examine how globalization affects coffee exports in the producing countries. This research used secondary data obtained from the International Coffee Organization, Pen World Table, World Bank, Food and Agricultural Organization, and KoF Globalization Index to achieve its goals. We used secondary data from 1990 to 2018 from various foreign databases. The research used a two-step system GMM (sys-GMM) to analyze the effect of globalization on coffee export in twenty-four producing countries. We found that export lag, gross domestic product (GDP), exchange rate, and the political globalization index (PGI) positively and significantly impact coffee exports. Meanwhile, coffee exports were unaffected by the level of export prices and the human capital index. Surprisingly, the trade globalization index has a negative impact on coffee exports. This demonstrates the unpreparedness of coffee-producing countries to face tough competition in trade globalization. The political globalization index, the final variable, has a positive impact on exports. With the opening up of world politics, it seems that the environment of democracy in producing countries is increasing. As a result, governments in these countries have adopted a policy of aggressively supporting coffee exports.

• 자원ㆍ환경경제연구
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• 제23권4호
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• pp.689-718
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• 2014

본 연구는 홍수피해가 관련 산업부문의 자본을 감소시킬 경우 국가경제에 미치는 파급효과를 완전예측형 동태CGE모형을 이용하여 2010년을 기준연도로 분석하였다. 여러 홍수피해 항목들 중에서 통계자료가 확보될 수 있는 농경지, 선박, 공공시설의 물적 피해 항목에 분석을 한정하였다. 홍수피해의 시나리오는 1991년~2010년 기간 홍수피해를 2010년 기준으로 불 변화하여 항목별 홍수피해의 평균과 최대로 각각 채택하였다. 분석 결과, 산업별 생산의 경우에는 자본스톡이 직접적으로 감소하는 수산업+운송업의 생산 감소율이 가장 크고 다음으로 농임 업의 생산감소율이 큰 것으로 나타났다. GDP는 충격 기준연도에 벤치마크 해 대비로는 0.001%~0.057% 그리고 초기 자본감소 대비로는 약 11% 감소하는 것으로 분석되었다. 동태적으로는 GDP는 말기로 가정된 2030년까지 서서히 감소하는 것으로 분석되어서 홍수피해가 자본을 감소시킬 경우 국가경제에 미치는 영향력은 오래 지속되는 것으로 나타났다.

• 통상정보연구
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• 제15권3호
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• pp.3-24
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• 2013

본 연구는 창업 직후 빠른 시간 안에 외국시장에 진출하는 국제신벤처기업에서 기업가지향성, 동적역량 그리고 수출성과의 관계를 살펴보았다. 또한, 외부환경 요인으로 국내시장 적대성과 산업 역동성의 조절효과도 분석하였다. 국제신벤처기업은 자원의 제약에도 적극적으로 외국시장 진출을 시도하는 기업을 말한다. 국제신벤처기업의 외국시장 진출에 영향을 주는 요인으로는 기업가지향성과 보유자원의 특성 등이 있다. 기존 연구는 국제신벤처기업 현상이 중소벤처기업의 새로운 성장동력이 될 것이라고 말하며, 해당 기업의 수출활동 성과 요인 등을 분석하였다. 최근에는 동적역량 측면에서 국제신벤처기업의 경쟁력을 설명하려는 연구들도 있다. 이러한 연구들은 동적역량이 자원이 부족한 국제신벤처기업의 수출활동을 포함한 외국시장 진출에 도움을 주는 것으로 지적한다. 본 연구는 기존 연구를 바탕으로 이러한 요인들 간의 관계를 실증분석 하였다. 기업가지향성은 기업가의 위험감수 성향, 혁신 성향, 적극적 성향으로 그리고 동적역량은 기존 자원의 통합과 재배치 역량으로 살펴보았다. 수출성과는 기존 연구에 따라 주관적 접근과 객관적 접근을 병행하여 측정하였다. 외부환경 요인은 두 가지로 나누어 설정하였는데 시장 불안정성과 산업의 역동성이다. 실증분석은 국제신벤처기업의 정의에 따른 국내 101개 기업을 대상으로 하였다. 분석 방법은 구조방정식 모형인 PLS(Partial Least Square)를 이용하였고 외부환경 요인의 조절효과를 포함해 총 6개의 가설을 설정하였다. 실증분석 결과 기업가지향성은 동적역량에 긍정적 영향을 주는 것으로 나타났다. 그리고 동적역량 또한 수출성에 긍정적 영향을 미치는 것을 확인하였다. 조절효과 분석에서는 기업가지향성과 동적역량 사이에 두 외부환경 요인이 모두 유의한 조절효과를 보여주었다. 그러나 동적역량과 수출성과 사이에서는 외부환경 요인의 조절효과를 확인할 수 없었다. 이는 우리나라 국제신벤처기업의 수출성과를 높이는데 동적역량이 외부환경으로부터 받는 영향이 크지 않음을 의미한다. 이러한 분석은 국제신벤처기업의 동적역량과 외부환경 요인의 관계를 분석한 점에서 이론적 시사점을 가진다. 그리고 국제신벤처기업의 경영자들은 외부환경 변화에 대응하는 동적역량이 단기적으로 성과에 영향을 주지 못한다고 해서 이의 중요성을 간과해서는 안 된다. 동적역량은 결국 신생기업의 전체적인 조직 역량을 강화하는데 도움을 주기 때문이다.

• 한국컴퓨터정보학회논문지
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• 제23권12호
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• pp.211-218
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• 2018

In this paper, we propose that investigating the relationship between the dynamic capacity and the technological innovation performance of firms. Based on the previous research, we divide the dynamic capacity into the adaptive capacity, absorption capacity, and productive capacity. Among the 3,400 companies responding to the technical statistics of SMEs in 2011, we performed multiple regression analysis with 2,807 except service industries. As a result, the absorptive capacity and productive capacity have a positive effect on the technological innovation performance at the 99% level, whereas the adaptive capacity has a negative effect on the technological innovation performance at the 95% level. The implications of this study are as follows. First, in order to improve the performance of technological innovation, it is important to strengthen the absorption capacity and productive capacity of companies. Absorption capacity shows that it is important to secure sufficient R & D manpower and R & D cost to utilize internal knowledge as well as to bring outside knowledge into the capacity to assimilate and utilize external knowledge. Second, the ability to commercialize a product is a capability to commercialize a technology that has succeeded in development, showing that the technology development organization must have the capability of post-development commercialization as well as technology development. Finally it shows the negative effect on adaptation capacity and innovation performance. Companies actively utilize external sources of information in order to respond to and adapt to the rapidly changing business environment. However, the results of this study show that a strategic approach is needed to use external sources of information and technology development resources. Especially as the use of external information resources and technology development resources increases.

• 전기학회논문지
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• 제65권2호
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• pp.335-341
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• 2016

In general, a yawing motion concept is used for the lateral control of one wheel robot where the gimbal system is located horizontally. In this paper, another concept of the vertically located gimbal system is presented for the same purpose. Although the vertical concept undergoes an instability more easily than the horizontal one, the pitching motion of the gyroscopic effect is considered. Firstly, the trade-off relation between two balancing concepts are investigated by comparing the gyroscopic mechanism. Secondly, the dynamic model for the problem of the proposed concept is derived using the oscillatory inverted stick model. Thirdly, the stability of the model is analyzed using the phase trajectory method. Finally, the control performance of the system by a vibration controller is simulated.

• The Journal of Asian Finance, Economics and Business
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• 제7권12호
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• pp.21-31
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• 2020

This study investigates the dynamic effects of economic development, international cooperation, electricity consumption, and political risk on the escalation of CO₂ emission in Vietnam. We adopted autoregressive distributed lag model and Granger causality method to examine the interaction between CO₂ and various economic and political factors, including foreign direct investment, trade openness, economic growth, manufacture, electricity consumption, and political risk in Vietnam since the economic revolution in 1986. The findings reflect opposite influence between these factors and the level of CO₂ in the intermediate and long-term durations. Accordingly, foreign direct investment and CO₂ emission have a bidirectional relationship, in which foreign direct investment accelerates short-term CO₂ emission, but reduces it in the long run through an interactive mechanism. Moreover, economic development increases the volume of CO₂ emission in both short and long run. There was also evidence that political risk has a negative effect on the environment. Overall, the findings confirm lasting negative environmental effects of economic growth, trade liberalization, and increased electricity consumption. These factors, with Granger causality, mutually affect the escalation of CO₂ in Vietnam. In order to control the level of CO₂, more efforts are required to improve administrative transparency, attract high-quality foreign investment, and decouple the environment from economic development.

• The Journal of Asian Finance, Economics and Business
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• 제7권8호
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• pp.175-183
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• 2020

This study explores the effect of trade of Information Communications Technology (ICT) products and government's role, measured by three factors: Control of corruption, Government effectiveness, and Administrative tax level, on raising the economy across the East Asia-Pacific region. Secondary data were collected from the World Bank database of 21 countries over 12 years from 2006 to 2017. Applying the Panel corrected standard error model and running a robustness check based on the Dynamic panel data method, this research found that the exported ICT products, control of corruption, and government effectiveness could increase the economic income of a country in the region. The paper also provided the evidence indicating that the imported ICT products and the Administrative tax level are two harmful factors for economic growth. The major finding confirmed the useful contribution on improving government quality and its economy. First, improving the economy of a country always poses various challenges to its government. During the past decades, although much of the literature confirmed that exporting ICT products could promote an economy, very few studies investigated the role of Administrative tax level and the Government effectiveness. Second, there are only a few studies exploring the capability of government and the economic growth in the Asia-Pacific region.

• 항공우주기술
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• 제12권1호
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• pp.10-21
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• 2013

오늘날 헬리콥터 기술의 발전과 더불어 함상에서 헬리콥터를 운용하는 것은 당연한 것으로 여겨지고 있다. 육상과 달리 해상에서 항공기를 운용하기 위해서는 육상보다 심한 바람과 파도와 배의 이동에 의한 착륙장의 운동과 염분에 의한 장비의 부식이 고려되어야하며 안전한 운용을 위한 운용절차가 요구된다. 본 논문에서는 수직이착륙 항공기의 함상운용 사례분석을 통하여 함상운용에 요구되는 항공기와 선박의 고려사항과 운용절차를 알아보고 이를 기반으로 틸트로터 무인기의 함상운용 기술개발 방안을 제시한다.

• The Journal of Asian Finance, Economics and Business
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• 제8권8호
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• pp.297-309
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• 2021

In this study, to capture the skewness and kurtosis detected in both conditional and unconditional return distributions of the stock markets of Kazakhstan and Russia, two versions of normal mixture GARCH models are employed. The data set consists of daily observations of the Kazakhstan and Russia stock prices, and world crude oil price, covering the period from 1 June 2006 through 1 March 2021. From the empirical results, incorporating the long memory effect on the returns not only provides better descriptions of dynamic behaviors of the stock market prices but also plays a significant role in improving a better understanding of the return dynamics. In addition, normal mixture models for time-varying volatility provide a better fit to the conditional densities than the usual GARCH specifications and has an important advantage that the conditional higher moments are time-varying. This implies that the volatility skews implied by normal mixture models are more likely to exhibit the features of risk and the direction of the information flow is regime-dependent. The findings of this study contain useful information for diverse purposes of cross-border stock market players such as asset allocation, portfolio management, risk management, and market regulations.