• Analyses & Alternatives
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• v.7 no.2
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• pp.35-77
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• 2023

This study aims to solve the entangled loop between demographic transition (DT) and economic growth by analyzing cross-country data. We undertake a national-level group analysis to verify the compressed transition of demographic variables over time. Assuming that the LA (latecomer advantage) on DT over time exists, we verify that the DT of the latecomer is compressed by providing a formal proof of LA on DT over income. As a DT has the double-kinked functions of income, we check them in multiple aspects: early maturation, leftward threshold, and steeper descent under a contour map and econometric methods. We find that the developing countries (the latecomer) have speedy DT (CDT, compressed DT) as well as speedy income such that DT of the latecomers starts at lower levels of income, lasts for a shorter period, and finishes at the earlier stage of economic development compared to that of developed countries (the early mover). To check the balance of DT, we classify countries into four groups of DT---balanced, slow, unilateral, and rapid transition countries. We identify that the main causes of rapid transition are due to the strong family planning programs of the government. Finally, we check the effect of latecomer's CDT on economic growth inversely: we undertake the simulation of the CDT effect on economic growth and the aging process for the latecomer. A worrying result is that the CDT of the latecomer shows a sharp upturn of the working-age population, followed by a sharp downturn in a short period. Compared to early-mover countries, the latecomer countries cannot buy more time to accommodate the workable population for the period of demographic bonus and prepare their aging societies for demographic onus. Thus, we conclude that CDT is not necessarily advantageous to developing countries. These outcomes of the latecomer's CDT can be re-interpreted as follows. Developing countries need power sources to pump up economic development, such as the following production factors: labor, physical and financial capital, and economic systems. As for labor, the properties of early maturation and leftward thresholds on DTs of the latecomer mean that demographic movement occurs at an unusually early stage of economic development; this is similar to a plane that leaks fuel before or just before take-off, with the result that it no longer flies higher or farther. What is worse, the property of steeper descent represents the falling speed of a plane so that it cannot be sustained at higher levels, and then plummets to all-time lows.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.19 no.1
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• pp.1-21
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• 2024

Recently, venture capital investment has been shrinking globally due to high interest rates and economic slowdown. Korea is no exception. Due to the downturn in the M&A and public markets, increasing economic uncertainty, and the aftermath of corporate bankruptcies, venture capitalists are facing many difficulties in raising funds. In the changed economic environment, the investment decision factors of venture capitalists have also changed. However, studies on VCs' investment decisions have focused on the general economic environment. This study examines how VCs' investment decision-making factors change during economic recessions and booms. To this end, we interviewed active investors who have experienced both economic recessions and booms to compare how VCs' investment decision factors change: 1) personal characteristics of founders, 2) experience of founders, 3) product/service, 4) market, 5) financial situation, 6) contract terms and 7) venture capital co-investment. The results showed that founder's personal characteristics, experience, and product/service were more important during the economic recession. Market is slightly more important during economic booms. The importance of financial situation and investment conditions increased sharply during the recession compared to the boom. Finally, venture capital co-investment did not differ significantly between recessions and booms. By understanding the investment decision-making factors of venture capitalists in the recent difficult venture investment environment, this study aims to help startups raise funds and survive in a difficult market.

• The Journal of the Korea Contents Association
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• v.18 no.5
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• pp.456-463
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• 2018

Increases in disasters and damage caused by the disasters in modern society, have a negative impact on local economy. In particular, a local economic downturn leads to a deterioration in quality of life of local residents and causes mental and material damage. Therefore, in order to achieve stable and sustainable local economic development, it is necessary to strengthen the resilience of the local economy. This study aims to estimate indicators of local economic resilience of Jindo County after the Sewol Ferry disaster, analyze a trend of the economic level after the disaster through time series data and suggest improvement plans of the local crisis management and restoration policy that considers future economic resilience. Results of this study showed that a decrease in the number of tourists and of workers in related industries hit tourism industry, causing a loss to the local economy and that an increase in a drinking rate of and stress awareness rate of local residents was a stress factor due to disaster impacts. These findings provides policy implications that it is necessary to make efforts for improving the depressed local image by utilizing local resources in the area, to build a sustainable long-term economic recovery policy and to provide psychological treatment and the relevant government and local government's support for relieving the stress of local residents due to the disaster impacts.

• Journal of Global Scholars of Marketing Science
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• v.7
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• pp.1-23
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• 2001

Two of most important industries in Changwon, the distribution industry and the construction industry have been threatened by the recent economic downturn. Rehabilitating plans for traditional markets tend to focus on renovation of facilities rather than on the managerial solution. Traditional market plays vital roles as a social safety net and a source of development of regional economy. Modernization of facilities and differentiation of business areas are two most important issues for the revitalization of the traditional market. Traditional markets should adopt a strategy which can make a difference in characteristics of the market, regional culture, regional industry and consumer behavior of the region. Purposes of this study are: first, to understand characteristics of traditional markets in Changwon, second, to draw implications for administrative and financial supports for traditional markets in Changwon.

• Journal of Global Scholars of Marketing Science
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• v.7
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• pp.25-53
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• 2001

Two of most important industries in Changwon, the distribution industry and the construction industry have been threatened by the recent economic downturn. Rehabilitating plans for traditional markets tend to focus on renovation of facilities rather than on the managerial solution. Traditional market plays vital roles as a social safety net and a source of development of regional economy. Modernization of facilities and differentiation of business areas are two most important issues for the revitalization of the traditional market. Traditional markets should adopt a strategy which can make a difference in characteristics of the market, regional culture, regional industry and consumer behavior of the region. Purposes of this study are: first, to understand characteristics of traditional markets in Changwon, second, to draw implications for administrative and financial supports for traditional markets in Changwon.

• Journal of the Korean Academic Society of Industrial Cluster
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• v.4 no.1
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• pp.51-61
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• 2010

Digital Signage is outdoor media to provide each content and message through digital displays instead that posters and signs are displayed on public facilities. Recently, digital signage have been popular to deliver variety information and advertising on the rapid development of intelligent digital imaging devices based LCD, LED. Continuously digital signage demand and market are growing because digital signage feature is able to capable of interactive communication. Digital signage is expected that digital advertising market is continue rising in spite of global economic downturn at various research institutions, and it is expected to replace traditional media advertising in a new way with the coming digital signage at convergence media side.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2010.05a
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• pp.153-157
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• 2010

As the recent economic downturn continues to undermine the profits of construction industry in Korea, it has become ever more pressing to improve productivity of the industry. Since construction site management manpower staffing plan has close bearing on the productivity of construction projects, it is essential to estimate and mobilize adequate number of resources as per conditions and characteristics of each construction site. However, there are no reference approaches in practice to provide baseline for site management manpower staffing plan or estimation of manpower requirement. Therefore, this study aims to examine factors affecting productivity that warrants first and foremost consideration in development of site management manpower staffing plan during the initial phase of building construction project by conducting survey on industry stakehoders with hands-on responsibilities in construction sites and analyzing their responses. Conclusions herein will provide basic inputs for subsequent studies on development of site management manpower staffing plan as per project characteristics.

• Journal of the Korea Institute of Building Construction
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• v.9 no.1
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• pp.123-129
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• 2009

The global financial crisis resulting from sub-prime mortgage crisis in the United States, beginning in 2007, has had dealt a blow to domestic economy. The economic downturn, coupled with a large number of apartments remaining unsold has resulted in contracted investment sentiment of the builders. Thus it's difficult to even implement the business, unless the investment project is thoroughly verified as well as the accurate profitability is granted. Viewing the current situation, forecasting and evaluating the business profitability is more than important today. The study was planned to identify the factors influencing the business success and to evaluate the sensitivity, relative risk of each factor was measured, and the scope of the study was limited to the commercial buildings among other buildings except apartment buildings. Hence, the study was aimed to analyze the factors affecting the business and the sensitivity so as to be able to systematically materialize the risk management of the commercial buildings. The outcome of the study is expected to serve the useful data in analyzing the business profitability and implementing the investment projects as well.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.7
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• pp.35-47
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• 2020

An economic downturn can occurred through unexpected events in various fields, such as the subprime mortgage crisis and the outbreak of Coronavirus Disease-2019 (COVID-19). Trade credit is important for small- and medium-sized enterprises (SMEs), especially during a monetary contraction, as it is the last option for firms that lack bank credit. This study aims to determine whether trade credit is profitable for the buyer and supplier firms during and after a financial crisis. We use panel data consisting of all trade credit transactions and financial statements of 5,751 Korean firms during the period 2008-2012. It shows that trade credit is more profitable for both buyers and suppliers in the post-crisis period than during the crisis. Moreover, trade payable is more effective for unconstrained buyers than for constrained buyers. Finally, a mixed strategy is superior to an aggressive or passive strategy of SMEs. The results suggest less profitability of trade credit during a period of contraction and greater sensitivity of the buyer SMEs, emphasizing the idiosyncratic liquidity strategy of each firm. This study can be helpful to develop a strategy of profitable trade credit for SMEs and to establish a policy of managing liquidity for the authority.

• Proceedings of the Safety Management and Science Conference
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• 2013.04a
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• pp.565-580
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• 2013

Competition to attract customers to the increase of the golf club, but the less people enjoying golf for a variety of issues, including the economic downturn, so golf is going deepened. Therefore, the local golf club is faced with the difficulty of management. In the case of the golf club human resource is the most important factor, because it has a high labor intensive nature of the industry as a type of facilities and services on the basis of intangible human resources. In this paper, to confirm the internal marketing activities and internal service quality, basic premise is that for an external customer satisfaction, internal customer satisfaction should be preceded, and try to analyze these execution factors on job satisfaction and customer orientation, either directly or indirectly affected. The empirical results, the management support in the internal marketing activities were the factors affecting the intrinsic job satisfaction, and the internal service quality were factors affecting employees of the intrinsic job satisfaction and extrinsic job satisfaction.