• Journal of Distribution Science
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• v.20 no.7
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• pp.23-33
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• 2022

Purpose: Although foreign capital flows have played a vital role in fostering the economic growth in recipient countries, there are some concerns about the adverse impact of international capital flows on the banking stability. Hence, the study revisits this issue to explore the relationship between the different types of foreign investments and banking stability in ASEAN region. Research design, data and methodology: Based on the bank-level data of 96 commercial banks and country-level in six ASEAN countries from 2008 to 2019, we perform the multivariate regression analysis and provide a variety of robustness tests. Results: Our empirical evidence shows the volatility of foreign portfolio investments has significantly negative effect on the banking stability, besides that of foreign other investments has the similar influence but the result is relatively less pronounced in some robustness tests. Additionally, increasing trade cooperation and international distribution may lead countries to face higher risk of banking instability driven from these international investments. Meanwhile, the impact of foreign direct investments is positive, but the evidence is the least obvious. Conclusions: Our findings suggest policy-makers in ASEAN and emerging nations as a whole should carefully consider when building policies-related to mitigate the adverse impact of foreign capital flows.

• Journal of Korea Trade
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• v.25 no.4
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• pp.37-59
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• 2021

Purpose - Although models of innovation and exporting dominate recent studies of relations between innovation and access to foreign markets, relations between innovation and foreign direct investment (FDI) are less explored. This is especially true of relations between types of innovation and FDI. We fill that gap in the literature with empirical evidence that clarifies whether firms enter foreign markets through exports or FDI. Design/methodology - In order to assess the role of innovation in firms' international engagement strategies, we develop research hypotheses and present new empirical evidence on firms' choice of entry - exports and FDI - based on firm-level data. Findings - Our empirical results suggest that the impact of product innovation is more significant in transition from being a purely domestic firm to an exporter, while process innovation more significantly affect transition from being an exporter to a multinational enterprise. Our results also support 'self-selection into FDI' rather than 'learning-by-performing FDI' in the relationship between innovation and firms' overseas expansion. Originality/value - Recent literature on the relationship between innovation and firms' participation in foreign markets is dominated by models of innovation and export behavior. However, foreign direct investment by multinational enterprises may also be associated with firms' innovative activities. We first analyze how product and process innovations influence firms' choices to initiate exports or FDI.

• Journal of Korea Trade
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• v.25 no.1
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• pp.18-33
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• 2021

Purpose - This paper investigates the causal relationship between logistics infrastructure development and the economic growth of Korea. Considering the industrial and economic structure of Korea, it is likely that logistics infrastructure is positively associated with the economic growth of the country. Design/methodology - The causal relationship between logistics infrastructure and economic development is estimated using Vector Autoregressive (VAR) and Vector Error Correction Model (VECM) considering long-run equilibrium between the two factors. To this end, a dataset consisting of 7 logistics infrastructure proxies and 5 economic growth indicators covering the period of 1990-2017 is used. Findings - It was found that causality, in general, runs from logistics infrastructure development to economic growth. Specifically, the results indicate that maritime transport is positively associated with the economic growth of Korea in terms of GDP and international trade. In addition, other modes of transport also have a positive impact on either the GDP or international trade of Korea. Originality/value - While existing studies in this area are based on either regional observations or a specific mode of transport, this study presents empirical evidence on causality between logistics infrastructure and the economic growth of Korea using a more comprehensive dataset. In addition, the findings in this paper can provide valuable implications for transport infrastructure development policies.

• Journal of Distribution Science
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• v.20 no.6
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• pp.43-56
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• 2022

Purpose: This study aims to investigate the impact of investing into technology development on banking performance in an emerging country. Research design, data and methodology: Based on the data of 12 commercial banks listed in Vietnam from 2011 to 2019 and performing multivariable regression analyses as well as conducting a variety of robustness tests, we carry out the empirical investigation to discover this impact. Results: Our empirical evidence shows that these spending help to improve significantly performance of banks. Particularly, the technology expenditures have positive effect on the net interest margin and the non-interest income in which the level of influence on the latter is relatively remarkable in comparison with the former. At the same time, the result does not support the view that increasingly spending on technology may lead banks to face the risk of instability. Conclusions: Overall, our empirical analysis indicates that increasing investment into distribution information and communication technologies will help to enhance business strategies of banks and thus we advocate the bright side of technology development and digitalization in banking sector. We believe that the research is useful for both managers, regulators and policy makers in Vietnam as well as in countries having similar financial structure.

• Asia-Pacific Journal of Business
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• v.14 no.1
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• pp.215-229
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• 2023

Purpose - Based on the funding-horizon theory, this study aims to test the effects of cash needs and the persistence of external funding needs on firms' external financing. Design/methodology/approach - Financial data of Korean listed companies were collected from DataGuide. Immediate and near-term cash shortfalls are defined using the methodology of Haung and Ritter (2021). We estimate multinomial logit regressions for the financing choice. Findings - First, all three cash depletion variables used in our study increase the likelihood of external financing. Second, firms prefer to issue debt to meet immediate spending and equity to meet long-lived cash needs. Third, this effect is more pronounced for high R&D firms. Fourth, chaebol firms with internal capital markets defer raising external capital for immediate and near-term cash needs. Research implications or Originality - This paper provide empirical evidence that immediate and near-term cash needs induce external financing, and the persistence of cash needs affects the choice between debt and equity, the finding which is consistent with the funding-horizon theory of financing decisions. Being the first paper to test the funding-horizon theory using Korean data, this paper contributes to the literature on the capital structure of Korean firms.

• Archives of design research
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• v.13 no.2
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• pp.73-80
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• 2000

In this study design information was separately defined form general product information and thus factors reflected in product design ion the basis of values and roles were extracted. The following is a classification of 5 different types of design factors divided according to their disposition. ·Innovation factor - element which previously did not exist or element related with explicit reformation ·Open factor - active element which not only improves current performance but also induces new functions through understanding of usage situations and new possibilities. ·Anterior factor - element which prolongs and develops the early development requirements of products through C.I. and P.I. related elements and characteristics of previous models and design strategy. Self-evidence factor - element related with function visualization through product structure which may make possible the consolidation of shape and function. Rigid factor - element, based on the human factors engineering, related with the safety and efficiency of users. This classification was obtained by defining major characteristics of products considering the target consumer and market characteristics. In this classification factor structuring design process which efficiently deducted a differentiated final product by synthesizing factors of higher importance as dominant factors was proposed. With this kind of factor structuring process, product differentiation may be achieved by bestowing individual characteristics to each product by combining design dominant factors associated with the product for a specific purpose from the stages of product concept development. Moreover, this may be used as an approach to actively correspond to the various and specific demands of the comsumer.

• Journal of the Korea Furniture Society
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• v.26 no.2
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• pp.101-111
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• 2015

Today, boundaries between genres are collapsed and there are mutual convergence and consilience in each field of the society. In art and design, new concepts for the convergence of art and design, such as graft of 'art and design' and 'technology and art', 'art design', 'commercialization of art', etc, are suggested. Especially, furniture is changed from the furniture as a living tool whose purpose is practical properties to the furniture combined by artistic properties and emotional factors with a concept related to the convergence of art and design, such as 'design as an art', 'useable art', etc. For the evidence, Artfurniture which was treated as just a part of decorative arts is focused by expressive media of the convergence between art and design and it became a genre of independent art. In addition, it is approaching to people as 'furniture as an art' and 'art as furniture'. Popularization of art and art of design are generalized and now, it's meaningless to divide the boundary between art and design. Before the discussion about convergence of each concept in non-boundary phenomena of art and design, it should be grasp essentials of art and design and understand the boundaries. The exploration of the essences and roles will be the first step to find new value through the convergence of art and design. Therefore, this thesis intends to grasp the stream value of two concepts have been changed by examining periodical situation, market changes, etc. from division between previous art and design to modern times, based on them, analyze roles of art and design in modern artfurniture and interpret relations between art and design for current time.

• Korean Security Journal
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• no.40
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• pp.57-86
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• 2014

As the revision of Building Code including applying crime prevention design to buildings passed recently and target hardening ought to be evidence-based, we studied the Modus Operandi (MO) and intrusion tools of domestic burglary to earn basic data for improvement of crime prevention hardware in the future. To be specific, we reviewed related academic literature and police official statistics of domestic burglary critically and interviewed detectives in charge of burglary to specify and categorize MO and tools. We can derive some implications from research findings, including improvement of the statistical system for the MO of burglary, active sharing of the MO of burglary among the criminal justice agencies and related industries and experts. Also, crime prevention advice and education for the local residents focused on MO of burglary can be recommended. Based on this research, to enhance the level of community safety significantly, performance tests of crime prevention hardware such as security doors and windows etc. and the study on related certification system should be vitalized.

• Safety and Health at Work
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• v.2 no.1
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• pp.70-82
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• 2011

Objectives: Ischemic heart disease (IHD) is a major cause of death in Korea and known to result from several occupational factors. This study attempted to estimate the current magnitude of IHD mortality due to occupational factors in Korea. Methods: After selecting occupational risk factors by literature investigation, we calculated attributable fractions (AFs) from relative risks and exposure data for each factor. Relative risks were estimated using meta-analysis based on published research. Exposure data were collected from the 2006 Survey of Korean Working Conditions. Finally, we estimated 2006 occupation-related IHD mortality. Results: For the factors considered, we estimated the following relative risks: noise 1.06, environmental tobacco smoke 1.19 (men) and 1.22 (women), shift work 1.12, and low job control 1.15 (men) and 1.08 (women). Combined AFs of those factors in the IHD were estimated at 9.29% (0.3-18.51%) in men and 5.78% (-7.05-19.15%) in women. Based on these fractions, Korea's 2006 death toll from occupational IHD between the age of 15 and 69 was calculated at 353 in men (total 3,804) and 72 in women (total 1,246). Conclusion: We estimated occupational IHD mortality of Korea with updated data and more relevant evidence. Despite the efforts to obtain reliable estimates, there were many assumptions and limitations that must be overcome. Future research based on more precise design and reliable evidence is required for more accurate estimates.

• Journal of The Korean Association For Science Education
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• v.36 no.4
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• pp.551-561
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• 2016

The purpose of this study is to investigate both theoretically and empirically the roles of models in abductive reasoning for scientific problem solving. The context of the study is design-based research the goal of which is to develop inquiry learning programs in the domain of earth science, and the current article dealt with an early process of redesigning an abductive inquiry activity in geology. In the theoretical study, an extensive review was conducted with the literature addressing abduction and modeling together as research methods characterizing earth science. The result led to a tentative scheme for modeling-based abductive inference, which represented relationships among evidence, resource models, and explanatory models. This scheme was improved by the empirical study in which experts' reasoning for solving a geological problem was analyzed. The new scheme included the roles of critical evidence, critical resource models, and a scientifically sound explanatory model. Pedagogical implications for the support of student reasoning in modeling-based abductive inquiry in earth science was discussed.