• Journal of Korea Trade
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• v.27 no.1
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• pp.1-18
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• 2023

Purpose - Using a sample of Korean multinational corporations, we examine whether the relationship between tax risk and the implied cost of capital discriminates between the environmental, social, and corporate governance (ESG) of highly rated firms. Design/methodology - Firms with high tax risks have an increased uncertainty of future cash flows. Therefore, as the volatility of future cash flow increases, information asymmetry and the required return increases. Highly rated ESG firms can reduce information asymmetry, thereby weakening the positive relationship between tax risk and cost of capital. We employ the standard deviation of the cash effective tax rate as proxy of tax risk. We utilize the ESG rating data of the Korea Corporate Governance Service (KCGS). We use a PEG model, MPEG model, and GM model to measure the implied cost of capital. Findings - We find a positive association between the implied cost of capital and tax risk. The positive relationship between tax risk and the implied cost of capital weakens in highly rated ESG firms. Highly rated ESG firms prefer a stable tax position to invest after-tax cash flows into sustainable management. Therefore, the negative effects of tax risk on cost of capital can be reduced. Originality/value - This study provides empirical evidence that ESG activities can mitigate the negative impact of tax risk on the cost of capital for Korean multinational corporations. In a business environment where ESG activities are more important, the empirical results that ESG activities can reduce the corporate risk of Korean FDI companies are expected to provide implications for the ESG activities of multinational corporations.

• Korea Trade Review
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• v.48 no.1
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• pp.287-306
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• 2023

This study tries to explore that the relationship between social media company's coercive and involuntary marketing stimuli and the negative consequences that have not been intensively discussed in measuring the performance of social media companies. To reflect the influence of the socio-cultural environment of country, a comparative study was conducted on major social media market in Korea and China. As result of the verification, it was found that coercive marketing stimuli had influence on social media firm's negative consequences. And there are significant differences by country in the effect of company's coercive marketing stimulus on user attitudes and negative performance. The results of this study are expected to provide practical implications for the operation of social media firms and individuals who want to do business using social media.

• Korea Trade Review
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• v.47 no.6
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• pp.97-117
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• 2022

Amid the growing importance and growth potential of venture firms worldwide, this study aimed to figure out the effect of new product development capabilities (NPDC) on the internationalization of Korean venture firms and the moderating impact of founders' human capital. NPDC is a core competency that can cope with the rapidly changing market environment and is required when entering multinational markets. Therefore, we subdivided founders' human capital into professional experience, startup experience, education level, and marketing capacity and examined each moderating effect on a venture firm's internationalization. As a result of empirical analysis of 1,362 Korean venture firms using the Tobit model, this study found that venture firms with excellent NPDC tend to achieve a higher level of internationalization. In addition, among the founder's human capitals, professional experience, education level, and marketing competency moderated the positive relationship between NPDC and internationalization. In contrast, the founder's startup experience was insignificant. The results of this empirical analysis explain the factors that trigger the internationalization performance of venture firms from the perspective of dynamic capabilities and suggest that the founder's human capital played an essential role in the internationalization.

• Korea Trade Review
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• v.45 no.3
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• pp.91-117
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• 2020

This study aimed to understand the relationships among the institutional pressure and the level of compliance and corporate value. The research focuses on four main variables, which are regulatory pressure, normative pressure, and cultural-cognitive pressure as the institutional pressure, and the CSR score as the level of the firm's compliance. We examined the impact of the institutional pressure on the firm's compliance-level, together with the effect of compliance level on the corporate value. We analyzed the 3,792 CSR data listed in China's A market and 31 province and city-level data from China. Results showed that institutional pressure had a positive influence on the firm's compliance level. The corporate value was greater with a high compliance level when the institutional pressure was high. The firm's compliance level negatively influenced corporate value when the institutional pressure was low. This study took into account a level of institutional pressures in three dimensions when investigating the effect of CSR compliance level on the corporate value. Thus, this study has a unique academic contribution by demonstrating that CSR activities can have a positive or negative effect depending on the institutional environment for each firm. The findings of this study also provide valuable insights to industry practitioners by suggesting the importance of considering the institution-specific condition when deciding to comply with the institutional pressure.

• International Journal of Computer Science & Network Security
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• v.21 no.2
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• pp.181-187
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• 2021

The purpose of this study is to examine empirically the short- and long-run determinants of entrepreneurial activity in a sample of 15 the Middle East and North African economies between 2006 and 2018. More specifically, four groups of determinants are considered in the analysis, namely economic, demographic, business environment, and institutional. Given the autoregressive feature of the entrepreneurial activity process, a dynamic panel data model is estimated using the system GMM estimator. Findings reveal that unemployment, trade openness, population density, and economic freedom are the main drivers of new business creation in the short-run, while the cost and number of procedures to start a new business negatively affect entrepreneurship. In the long-run, the same findings hold true. Moreover, education and political stability and the absence of violence/terrorism positively affect entrepreneurial activity. Policy recommendations are accordingly designed.

• Proceedings of the IEEK Conference
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• 2002.07a
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• pp.231-234
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• 2002

A transceiver for ADSL systems contains an interpolated combfilter, halfband filters, oversampling sigma delta modulator, a current steering DAC and an analog filler. The circuit complexity of the architecture makes it necessary to use behavioral models to determine the system features. For this reason, we need a specific behavioral simulation environment using the Matlab program. The Matlab is crucial for these circuits to be rapidly incorporated in larger systems, in particular in the context of mixed-signal-test schemes. Design trade-off among the blocks has also been discussed. The design methodology is based on behavioral design and CMOS process.

• Journal of Ocean Engineering and Technology
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• v.17 no.6
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• pp.96-100
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• 2003

For moving cargo between the North Pacific region and Northern European ports, the Northern Sea Route, along Russia's coastline, is 35-60％ shorter than the traditionally used routes through the Suez or Panama Canals. in addition to its shorter distance, there exist extensive ports und shipping infrastructure, and the potential for developing new markets in Russia and other northern countries including Korea and Japan. These incentives attracted considerable attention from the international shipping and shipbuilding industries and have formed a cooperative international research program, called as the International Northern Sea Route Programme (INSROP) This paper is a general compilation of the historical usage, recent trade developments, the physical environment, and the practical considerations that may shape future operational mode of shipping in the NSR based on results from INSROP reports. This study focuses mainly on an operation of commercial icebreaking cargo vessels that may be utilized along the NSR.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.2 no.2
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• pp.1-4
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• 1979

In order to cope with the violent environment of surrounding enterprises, development of new products, advance to other industry field, unification or abolition of factories and rationlization of labor are needed. But production process being made quality and using process after shipment are the things that we have to think about, first of all and to practice always. Insurance problem of reliability, that is, the positive quality maintenance that has being presented many debate issues recently, will be studied. The accident of nuclear power-plant in America, in connection with reliability maintenance and human engineering, will be analyzed. But as its accident details is not announced, in this study, it is a sort of method of methodology to be studied this paper rather than studying the fact of the accident. Therefore this study will be done as follows, For reliability study. 1. Investigation of problems. 2. Quality maintenance activity and reliability maintenance activity 3. Reliability acquisition in production process, 4. Reliability maintenance after shipment. 5. Conclusion. In addition to stating above, it is sure that liberalization of trade, interchange between nations and strengthening of international competition ability, etc. need high quality. But possibility that quality maintenance or reliability aquisition needs understanding and cooperation of consumer, will be stated.

• Electronics and Telecommunications Trends
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• v.36 no.4
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• pp.110-117
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• 2021

The development of core technologies in the 4th Industrial Revolution, such as artificial intelligence, big data, and the intelligent Internet of Things, promote digital transformation and intelligence of the manufacturing industry. To realize them, there is an increasing demand for materials, components, and equipment needed for final goods. In particular, the expansion of global value chain instability due to changes in the external environment, such as the U.S.-China trade dispute, Japan's export regulations, and Covid-19 pandemic, increases the importance of strengthening the materials, components, and equipment industry in the global market. Thus, this study presents a strategic direction for securing global industrial competitiveness of materials, components, and equipment using Michael Porter's diamond model approach.

• Proceedings of the Korean Institute of Information and Commucation Sciences Conference
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• 2015.10a
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• pp.866-869
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• 2015

With the advance in semiconductor technology, the number of elements that can be integrated in system-on-chip(SoC) increases exponentially, and thus voltage scaling is indispensable to enhance energy efficiency. Near-threshold voltage computing(NTC) improves the energy efficiency by an order of degree, hence it is able to overcome the limitation of conventional super-threshold voltage computing(STC). Although NTC-based low performance manycore system can be used to maximize energy efficiency, it demands more number of cores to sustain the performance, which results in considerable increase of area. In this paper, we analyze NTC manycore architecture considering the trade-offs between performance, power, and area. Therefore, we propose an algorithmic methodology that can optimize power consumption and area while satisfying the required performance by determining the constrained number of cores and size of caches and clusters in NTC environment. Experimental results show that proposed NTC architecture can reduce power consumption by approximately 16.5 % while maintaining the performance of STC core under area constraint.