• 아태비즈니스연구
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• 제10권4호
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• pp.137-151
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• 2019

Using Korean Labor and Income Panel Study data, this paper estimates nominal wage rigidity in Korea by industry from 2005 to 2017 and evaluates the level of inefficiency of Korean labor market. And, after estimating employment volatility by industry using the Labor Force Survey at Establishments data for Korea, we combine the nominal wage rigidity and the employment volatility estimates and analyze the effect of nominal wage rigidity on employment volatility in Korea from 2011 to 2017. If the level of wage rigidity is high, it may be hard for the labor market to be in the equilibrium, and therefore, the market may have inefficiency. We find that the inefficiency of the labor market in Korea have increased from 2005 to 2017 and the industry of accommodation and food service activities has the highest level of inefficiency over the period. We also find that one-percent-point increase in wage rigidity increases employment volatility by 2.3-2.9 percent and the positive effect is bigger for workers with part-time and temporary jobs. The result implies that firms may adjust their labor costs by changing the number of casual workers, rather than permanent workers, when the labor market suffers from a high level of wage rigidity.

• The Journal of Asian Finance, Economics and Business
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• 제9권8호
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• pp.109-121
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• 2022

The study empirically examines the horizontal spillover effects of foreign direct investment (FDI) on the productivity of Indian pharmaceutical firms. Robust least squares and the Generalized Method of Moments estimators are applied for the firm-level panel data of Indian pharmaceutical companies whose shares were traded on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). The information was collected from the Centre for Monitoring Indian Economy (CMIE) Prowess database from 2015 to 2019. Based on the regularity in data availability, the sample firms are limited to 112 companies, 100 of which are domestic firms and 12 international firms. Firms with more than 10 percent foreign equity are classified as FDI firms, while those with less than that are classified as domestic firms. Estimation results show that foreign ownership does not contribute to the productivity of domestic firms. Due to increased competition, the Indian pharmaceutical companies with foreign equity participation are not more productive than local ones. Moreover, the findings reveal a negative and insignificant horizontal spillover effect from FDI on the productivity of domestic enterprises. The absence of horizontal spillovers may be attributable to foreign enterprises' ability to prevent technological outflow to competitors in the same industry.

• Journal of Korea Trade
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• 제23권4호
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• pp.1-16
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• 2019

Purpose - This research empirically proves that global shipbuilding industry leadership has moved to China from Korea. Design/Methodology - Competitiveness is measured by AHP for the weights of comprehensive competitiveness, which is the output mixture of three attributive factors: shipbuilding technology, shipbuilding contract price, and export credit. Findings - China is far ahead of Korea for standard vessels such as bulkers and containerships with competitiveness weights of 0.762 and 0.612, respectively, against 0.238 and 0.388 of Korea. Korea is maintaining its competitiveness only in LNG carriers (174k CBM) with a competitiveness weight 0.621. China and Korea have similar competitiveness for chemical carriers, complex vessels with a small hull size. The sources of Chinese competitiveness are shipbuilding contract price and export credit. With the majority share of standard vessel types in the world fleet, China will hold a bigger market share than Korea in the global shipbuilding industry in the forthcoming years. Implications - The swing factors of market power are shipbuilding technology and contract price. If China fails to further develop shipbuilding technology for shipowners worried about the reliability of the Chinese-built vessels, shipowners may swing back to Korea. The rising Chinese labor cost will expedite this swing in the forthcoming competition. Originality/value - To the best of the author's knowledge, this is the first paper that quantitatively examines the competitiveness of shipbuilding between China and Korea by comparing attributive factors for competitiveness.

• The Journal of Asian Finance, Economics and Business
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• 제9권2호
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• pp.335-346
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• 2022

Elderly entrepreneurship is becoming increasingly important as a response to the impact of the aging population and the resulting demand on government support systems, as well as a means of ensuring long-term economic and social development. The purpose of this study is to investigate the elderly's entrepreneurial intentions in the hotel and tourism sector in Ma'anshan City, Eastern China. The researcher used an online survey of older people aged 50 to 64 in a tourism destination that is approaching an aging society stage to see if the Theory of Planned Behavior can explain the entrepreneurial ambitions of the elderly in the hospitality and tourism industry. There were 391 questionnaires gathered in all, 367 of which were valid. The data was analyzed using descriptive statistics and regression analysis. The study reveals that personal attitudes toward entrepreneurial behavior and perceived behavior control are highly influenced by societal norms. It also shows that personal attitude and perceived behavior control are antecedents of the elderly's entrepreneurial intent in this particular industry. This research adds to the research on geriatric entrepreneurship in hospitality and tourism, as well as human resource development for seniors in China, helping to alleviate the country's aging demographic concerns.

• The Journal of Asian Finance, Economics and Business
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• 제9권5호
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• pp.335-343
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• 2022

Corporate social responsibility is becoming increasingly important to organizations, and it has received a lot of attention from the general public and marketing academics. This study aimed to look at the many aspects of corporate social responsibility and see how brand reputation and brand love play a role in the relationship between corporate social responsibility and customer purchase intent. To reach the end, this research applied the theory of social exchange and corporate social responsibility to explain the relationship between the variables. The Partial Least Squares was applied to analyze data collected from survey questionnaires in the Hanoi market (Vietnam) to test the proposed hypothesis. The study resulted in 239 valid survey questionnaires which can be used to test hypotheses by applying SmarPLS software. The results indicated that there are three key elements of corporate social responsibility from customers' perspectives: responsibility to customers, responsibility to the environment, and responsibility to the community. Interestingly, brand reputation and brand love contribute as mediating roles in the correlation between corporate social responsibility and customer purchase intention. Finally, the authors discussed the findings and the implications of this research in both theoretical and practical aspects, as well as the limitations that future research can focus on.

• 산업경영시스템학회지
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• 제46권3호
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• pp.148-160
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• 2023

The air transport industry is experiencing unprecedented fluctuations in aviation demand through the Covid-19 pandemic, and is more focused than ever on maintaining and generating business profitability. During the pandemic, demand for air cargo has soared, and the conversion business from passenger aircrafts to freighters(P2F) is drawing attention as a new business in the aviation maintenance industry. This study derives important factors to be considered in order to successfully carry out the P2F project through a wide range of cases and related literature, and analyzes the relative importance of each factor using the analytic hierarchy process. Through a survey of 33 aviation maintenance experts with more than 20 years of field experience, the importance of main factors and their sub factors was determined and implications were drawn. As a primary result, in order to succeed in the P2F project, the main factors were identified in the order of skill, finance, and location. The most important sub factors for each main factors were identified in order of securing airframe modification skill, securing infrastructure construction cost, and creating P2F business complex and district. The quantified success factors suggested the critical direction for the successful development of Korea's P2F business, and presented viable and specific business strategies and implementation plans for each factors.

• 자원ㆍ환경경제연구
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• 제19권3호
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• pp.659-688
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• 2010

세계 각국에서는 지구온난화로 인한 기후변화에 적극적으로 대응하고자 중장기 온실 가스 감축 및 에너지 저감 목표를 설정하여 체계적인 감축 노력을 경주하고 있다. 하지만, 환경쿠즈네츠 이론에서 설명되어지는 바와 같이, 환경보전과 기존의 성장 정책을 통한 경제성장은 서로 상충관계에 있어, 기후변화에 능동적으로 대응하여 환경을 보전하는 동시에 경제성장을 달성하려는 정책은 한계에 봉착하였다. 최근 환경을 경제성장을 위한 기초자산으로 활용하여 경제성장과 환경보전을 동시에 달성할 수 있게 하는 새로운 성장패러다임인 녹색성장의 등장으로 두 가지 경제 목표의 동시달성이 가능해졌다. 녹색금융은 이러한 녹색성장을 금융측면에서 활성화시키는 방안으로써, 녹색산업의 장기적 성장에 필수적인 요소로 인식되고 있다. 현재는 도입 초기단계이지만 다각적인 분석을 통해 활성화 방안을 마련한다면 지속가능한 녹색성장 달성에 지대한 영향을 미칠 것으로 판단된다. 이에 본 논문에서는 녹색기술산업의 한 분야로써 차세대 성장동력으로 각광받고 있는 바이오산업을 예로 들어, 그 발전추이를 실증적으로 분석하고 예측하여 발전단계별로 구분하고 녹색금융을 통한 녹색산업의 단계별 자금조달방법론을 제시한다. 즉, 녹색산업의 단계별 자금조달방안을 토대로 녹색성장을 위한 경제주체들의 역할을 고찰하여 녹색금융의 효율적 운용방안을 제안함으로써, 녹색성장의 초석이 마련되어질 것이다.

• KDI Journal of Economic Policy
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• 제35권1호
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• pp.63-101
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• 2013

우리나라의 '벤처기업'은 법적 용어로서 벤처캐피털 투자기업('벤처투자기업')뿐만 아니라 연구개발기업과 정책자금 지원기업('기술평가 보증 대출 기업')들을 포괄한다는 특징을 지닌다. 본 논문은 벤처확인유형에 따른 우리나라 벤처기업의 성장에서의 차이를 분석하였다. 실증분석을 위해서 중소기업청의 1998~2010년 벤처확인기업 명단을 '한국기업데이터'(KED) 재무 데이터와 연계하여 사용하였다. 실증분석 결과, 벤처투자기업은 기업공개 확률이나 최초 벤처확인 이후 3년 및 5년이 경과한 시점에서의 매출 고용 성장률 모두에서 기술평가 보증 대출 기업에 비해 우수한 것으로 나타났으며, 2003년 이후 신규 인증된 연구개발기업 역시 기술평가 보증 대출 기업에 비해 우수한 성장성을 보이고 있다. 이 결과는 '벤처기업'이라는 단일한 명칭에도 불구하고 이들 기업군은 상이한 속성을 지닌 기업들로 구성되어 있으며, 기업 성장 면에서 정책적 선별이 시장에 의한 선별에 상응하는 효과를 도출하지 못하고 있다는 점을 시사하고 있다. 이를 감안할 때 벤처지원정책은 벤처확인유형별로 상이한 기업군의 지원수요를 적극적으로 고려할 필요가 있으며, 명목상의 벤처기업 수 증가보다는 벤처캐피털 시장의 활성화에 정책의 초점을 맞추는 것이 바람직하다.

• Journal of the Korean Data Analysis Society
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• 제20권6호
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• pp.2993-3002
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• 2018

본 연구는 투자용 기술평가등급모형 개발에 대한 사례연구이다. 투자용 기술평가등급모형은 기술금융의 지원대상을 융자에서 투자로 확대하기 위하여 금융위원회와 산업통상자원부가 협업으로 추진한 프로젝트이다. 실제개발은 기술보증기금과 산업기술진흥원이 진행한 것으로 기술형 투자펀드를 운영하기 위하여 사전에 TCB가 운영할 표준모형을 개발한 것이다. 투자용 기술평가모형은 고성장기업을 예측하는 것을 목표로 개발하였다. 모형은 통계모형과 전문가모형으로 구성하고 이를 종합하여 등급을 산출하는 구조로 구성하였다. 여기서 통계모형은 예측에 유의한 변수를 파악하여 이를 로짓회귀분석을 활용하여 모형화하였다. 전문가모형은 전문가들의 의견을 수렴하여 각 평가항목의 가중치를 파악하여 모형을 설정하였다. 전문가는 벤처기업 투자를 하는 벤처캐피탈리스트와 모형을 운영할 TCB의 심사역의 의견을 종합하였다. 모형의 등급체계는 10등급으로 구성하여 제시하였다. 그 모형의 등급별 분포는 기보의 KTRS 등급별 분포와 일치하도록 하였다. 흥미로운 것은 기술성과 시장성 을 중시하고 있다는 것이다. 여신을 위한 기술평가등급모형에서는 경영자역량이나 사업성을 중시하고 있는 것과는 상당한 차이가 있는 것이다.

• 산업경영시스템학회지
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• 제40권2호
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• pp.51-59
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• 2017

Due to the rapid change of global business environment, the growth of China's steel industry and the inflow of cheap products, domestic steel industry is faced on downward trend. The change of business paradigms from a quantitative growth to a qualitative product is needed in this steel industry. In this environment, it is very important for domestic steel distribution companies to secure their competitiveness by selecting good supply companies through a efficient procurement strategy and effective method. This study tried to find out the success factors of steel distribution industry based on survey research from experts. Weighted values of each factors were found by using AHP (analytic hierarchy process) analysis. The weighted values were applied to DEA(data envelopment analysis) model and eventually the best steel supply company were selected. This paper used 29 domestic steel distribution firms for case example and 5 steps of decision process to select good vendors were suggested. This study used quality, price, delivery and finance as a selection criteria. Using this four criterions, nine variable were suggested. Which were product diversity, base price, discount, payment position, average delivery date, urgency order responsibility and financial condition. These variables were used as a output variable of DEA. Sales and facilities were used as an input variable. Pairwise comparison was conducted using these variables. The weighted value calculated by AHP pairwise comparison were used for DEA analysis. Through the analysis of DEA efficiency process, good DMU (decision making unit) were recommended as a steel supply company. The domestic case example was used to show the effectiveness of this study.