• 경제분석
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• 제26권4호
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• pp.98-136
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• 2020

본 연구는 2006~2014년 통계청의 기업활동조사 자료를 이용하여 우리나라 제조업 기업의 수출중단 결정요인을 실증적으로 분석하였다. 이를 위해 생존분석 기법인 Complementary Log-Log 모형을 통해 우리나라 제조업 수출기업의 수출중단 가능성에 기업 및 산업 특성과 거시경제 변수들이 미치는 영향을 추정하였다. 분석결과, 기업 특성인 고용규모, 자본집약도, 무형자산 소유여부, 외국인 소유여부와 산업 특성인 신규기업의 고용대체율 등이 수출중단 가능성에 유의한 영향을 미치며, 거시변수 중 세계수요 증가, 국내수요 감소가 수출기업의 수출중단 가능성을 유의하게 감소시키는 반면, 환율의 영향은 유의하지 않은 것으로 추정되었다. 또한, 시장금리가 상승하면 금융시장 자금조달여건이 불리해짐에 따라 수출기업의 수출중단 가능성이 커지며, 부채비율이 높은 기업이 이러한 금융여건의 영향을 더욱 크게 받는 것으로 나타났다. 한편, 수출 주력산업인 경우 생산성이 높을수록 수출기업의 수출 중단 가능성이 감소하는 것으로 분석되었다. 본 연구결과는 기업 및 산업 특성과 거시 실물 변수 및 금융여건이 수출중단에 복합적으로 영향을 미치고 있음을 보여준다. 또한, 수출 주력산업 내 기업들의 생산성 제고와 기업의 재무건전성 향상이 수출기업들의 수출중단 가능성을 감소시키는 방향으로 작용할 수 있음을 시사한다.

• The Journal of Asian Finance, Economics and Business
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• 제8권1호
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• pp.61-69
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• 2021

The aim of this paper is to empirically investigate whether and how domestic currency valuation is related to firm-level export competitiveness and profitability by using the unique firm-specific dataset on Bangladeshi nonfinancial firms which have been listed continuously from 2010 to 2018. To achieve the aim of this paper, 63 exporting firms are extracted from a total of 125 firms which have been continuously listed during 2010-2018 and used as the final sample firms. The Pedroni cointegration test reveals that export and import prices of the exporting firms are cointegrated in the short-run as well as long-run. The panel dynamic ordinary least square (DOLS) analysis finds that a firm's export competitiveness is maintained by high import inputs even in the presence of depreciation of Bangladeshi currency against the US dollar. Finally, the DuPont analysis finds that the depreciated Bangladeshi currency enhances an exporter's profitability. Conclusions based on the findings are consistent regardless of exchange rate types, such as, real bilateral exchange rate and nominal or real effective exchange rate indexes. Consequently, the firm-level findings of this investigation suggest that undervalution of home currency is essential for Bangaldesh which is one of the frontier markets in South Asia whose exporting firms are mostly price followers in global markets.

• 한국항만경제학회지
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• 제27권3호
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• pp.207-230
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• 2011

본 연구의 가장 큰 목적은 좀 더 객관적인 관점에서 협력의 관계유형을 살펴보는데 있다. 지금껏 과거 연구에서는 수출기업과 물류기업 간의 관계를 단순히 협력, 혹은 제3자 물류의 유무로 구분했었고, 그 분류 방식 또한 상당히 단순하고 자의적이었다. 이에 관계유형에 영향을 미칠 수 있는 변수들을 식별해 내고 이를 바탕으로 군집분석을 실시했고, 확인 과정으로 t-test를 실시했다. 연구결과, 표면적으로 협력관계에 있는 수출기업과 물류기업의 유형에도 뚜렷하게 다른 협력의 유형이 존재하고 있었으며, 그 유형에 따른 성과차이도 서로 상이한 것으로 나타났다. 즉, 수출기업과 물류기업 간에는 다양한 관계가 존재하고 있는 것으로 나타났다. 실제로 가장 적극적이고 포괄적인 협력관계를 구축한 수출 화주기업의 해외물류성과가 다른 협력관계의 기업에 비해 양호한 것으로 나타났다.

• 무역학회지
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• 제44권3호
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• pp.1-14
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• 2019

We compared and analyzed the effects of establishing multilateral FTA and bilateral FTA on the R&D investment of exporting firms when they compete in Cournot fashion and when the government of the importing country acts strategically. In the short run, we found that the importing country prefers to enter into a bilateral FTA with each exporting country separately for maximizing its welfare. However, we also found that, in the long run, it is more welfare-enhancing policy for importing country that entering into a multilateral FTA with all of the exporting countries simultaneously because it helps facilitate the R&D investment of exporting firms. But once entering into a multilateral FTA, the exporting firms would be faced with more intensive R&D investment competition and hence they would suffer severe welfare loss.

• 통상정보연구
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• 제12권4호
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• pp.25-45
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• 2010

The objective of this paper is to review the mechanics of how global e-trade practices can affect a firm's performance. It is well known that the introduction of global e-trade systems can save transaction costs at the macro level. However this study is extended at micro level by determining whether global trade transaction costs influence positively or negatively in exporting firms performances at firm level. A theoretical framework is suggested for determining the usage and performance of global e-trade with the global e-trade barriers. An empirical analysis of South Korean exporting firms has been undertaken. This paper concludes that the global e-trade has yet to overcome the barriers resulting from the transaction costs and asset specificity. In this regard, appropriate action like intensive education and training program should be implemented in order to make South Korea's global e-trade more matured.

• 무역학회지
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• 제42권2호
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• pp.175-203
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• 2017

본 연구는 자원기반관점에 입각하여 국내 중소기업의 시장지향성과 브랜드지향성이 기술역량, 마케팅역량, 수출경쟁우위 및 수출재무성과에 미치는 영향에 대해 조사하였다. 이를 위해 대한상공회의소의 DB를 바탕으로 수출 제조 중소기업을 대상으로 설문조사를 실시하였으며 총 286부가 실증분석에 이용되었다. 분석 결과, 중소기업의 시장지향성은 기술역량과 마케팅역량을 제고할 뿐만 아니라 수출시장에서의 경쟁우위를 점하고 높은 재무성과를 달성하도록 하는 요인으로 나타났다. 또한 브랜드지향성은 기술역량과 마케팅역량을 통해 경쟁우위와 재무성과에 간접적인 영향을 미치며, 기술역량과 마케팅역량 모두 중소기업이 해외시장에서 경쟁우위를 차지하게 하여 재무성과를 내게 하는 요인임이 밝혀졌다. 본 연구결과는 시장지향성과 브랜드지향성이 국내 중소기업의 역량과 수출성과에 미치는 영향에 대해 제시함으로써 이들의 해외시장에서의 경쟁력과 성과 제고를 위한 시사점을 제언하였다는 점에서 의의가 있다.

• 통상정보연구
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• 제12권2호
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• pp.325-355
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• 2010

Knowledge-based exporting companies in Korea have reached a stage to develop new technological innovation and to pioneer new markets. But, developing new technologies and launching new products require an enormous sum of money for Research and Development(R&D) and there is still uncertainty in technological development and markets. Therefore, through open technological innovation, they are encouraged to actively use external technological sources and ideas. They also need to enhance the efficiency of the relatively little R&D investment. In this paper, firstly, it conducts a precedent study on the concept and influence factors of knowledge-based exporting companies and open technological innovation. Secondly, it sets a study model and estimates a regression coefficient to analyze the influence factors of open technological innovation of knowledge-based exporting companies which are using external resources on the process of innovation. Through case study and empirical analysis, we are going to find the implication of open technological innovation and prepare the way of the innovation for the knowledge-based exporting companies. According to the empirical analysis, variables such as firm size, processing degree, product life, patent registration, maintaining internal security didn't have positive effects on open innovation performance. On the other hand, research capability and market preoccupancy had positive effects. Therefore, to succeed in open innovation, knowledge-based exporting companies not only need to secure research capability through open innovation, but also need to preoccupy the market through commercialization of developed product.

• 무역학회지
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• 제44권3호
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• pp.227-252
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• 2019

This study explores the effects of exports on the innovation of Korean firms listed on two Korean stock markets, the Korean Stock Exchange and the Korean Securities Dealers Quotations, between 1999 and 2016. By matching exporting firms to non-exporting ones with propensity score matching, this study accounts for a problem from sample selection bias that may arise from differences in firm-characteristics between the two groups. From the study results, first, both export participation and export volume significantly increase subsequent innovation performance, as measured by the number of patent applications. This result seems to support the "learning by exporting" hypothesis for Korean listed firms. Second, both export participation and export volume narrow innovation scope, proxied as the number of unique International Patent Classification (IPC) codes of the patent applied, the degree to which patents are concentrated in a particular class, and the degree of proximity in the patents. The findings of innovation scope suggest a possible explanation that the learning effect appears in familiar technology fields that firms have previously held, rather than in unfamiliar ones. Third, these results are robust using alternative proxies in the innovation scope, Tobit regressions to consider the non-trivial portion of sample firms with patent applications equal to zeros, and generalized method of moments (GMM) to control for the persistence of innovation measures hearing over years. Finally, the two main results are more pronounced in large firms than in small and medium-sized ones. As for Chaebol firms, however, these results do not appear.

• Journal of Korea Trade
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• 제26권5호
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• pp.39-55
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• 2022

Purpose - This study empirically examines the effect of the Korean government export promotion program (EPP) on small and medium-sized enterprise (SMEs) export performance using firm-level data. Unlike most previous studies that investigated some specific samples of firms, this study analyzes a vast amount of SME data of the Korean Small and Medium Business Administration over the period 2005 to 2008. Design/methodology - An endogeneity problem arises when a firm's probability of being selected is correlated with the likelihood of successfully implementing EPPs. To control for the endogeneity of the EPPs in a relatively short-period sample, we employ 2-Stage Residual Inclusion (2SRI) RE-Tobit and bivariate Tobit procedure. Findings - Analyses show that Korean government EPPs have positive significant effects on SME exports. Empirical results also show that SME export activities are significantly encouraged by R&D investment and capital intensity, but not obviously by labor productivity. Originality/value - This study provides evidence that SME capital intensity, R&D investment, and the number of workers are significant determinants to SME exporting activities, whereas per worker labor cost and employee education are not. These results imply that even for SMEs, firm size is a major factor in promoting exporting activities.

• 무역학회지
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• 제46권5호
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• pp.131-152
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• 2021

Political connections may facilitate firms' exporting activities, particularly in developing countries, because politically connected firms may be more likely to receive informational and financial support, allowing them to overcome barriers to export. We test this hypothesis using a unique, firm-level dataset from traditional apparel and textile clusters in the Red River Delta Region in Northern Vietnam. We find that political connection of certain types increases the chance of receiving valuable information or financial support from the government. Moreover, those firms that have access to government information have higher chances of being direct exporters. However, firms that receive financial support from the government are not necessarily engaged in exporting activities. Although politically connected firms are more willing to export, they do not necessarily engage in more exporting activities than firms without such connections. These results suggest that the misallocation of information and financial resources to politically connected but insufficiently productive firms leads to a failure to promote exporting activities. In contrast, political connection increases the chance of importing materials and parts, possibly because high productivity is necessary for exporting, but not for importing.