• East Asian Economic Review
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• v.23 no.4
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• pp.353-379
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• 2019

This paper aims to determine factors causing the stagnation of Korean firms' fixed investment after the global financial crisis, using panel data for the period of 1999-2016. Fixed investment remained sensitive to cash flow and Tobin's q although their effects decreased after the global financial crisis. A decreasing trend of cash flow and an increase in Tobin's q since the early 2000's imply that the worsening cash flow was a major factor behind the sluggish investment after the crisis. Meanwhile, debt-equity ratio remained significant for non-chaebol affiliated firms, reflecting disparity in access to external financing. Volatility of stock returns also became insignificant after the crisis, casting doubt on the argument that uncertainty was a major factor contributing to the decline of fixed investment. Analysis of financial investment confirmed the significant effect of cash flow, larger than that on financial investment than on fixed investment. In particular, debt repayment and other financial investment, except share repurchase, were sensitive to cash flow. However, the substitution of fixed investment by financial investment is a consequence, rather than a cause of declining fixed investment.

• Journal of Labour Economics
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• v.34 no.3
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• pp.81-117
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• 2011

This study examined how firms responded to the articles regarding the prohibition or correction of discrimination against fixed-term workers in the 'fixed-term worker protection law', which has been effective since July of 2007 in Korea. Data used cone from the Korean Workplace Survey, and a difference-in-differences method was employed for the identification of the causal effect, noting that the 'discrimination prohibition law' has been applied to firms over stages based on their sizes. The empirical results show no strong evidence that the law played a positive role in reducing differentials between permanent workers and fixed-term workers in the areas of wage and various employee benefits, including the provision of severance pay, annual leave, and 4 major social insurances for fixed-term workers. A more thorough future analysis on the causes of the insignificant impact of the law in some employee welfare benefits, along with supplemental policies, is needed to have the law achieve the desired goal of removing discrimination at the workplace.

• Journal of Labour Economics
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• v.31 no.2
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• pp.103-128
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• 2008

This paper estimates the union effect on the wages using Korean Labor and Income Panel Study by using fixed-effect estimation. While the cross-sectional estimates show the size of 4.6% increase in the wages of workers in the union compared 10 the observationally identical workers in the non-union jobs, the union wage effect is estimated as 2.1% increase in the panel study. This shows that there exits an substantial upward-bias in the cross-sectional estimation of union wage effect.

• Korean Medical Education Review
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• v.12 no.1
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• pp.3-8
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• 2010

This study is designed to evaluate the effectiveness of teaching or studying programs, and thus to overcome the selectionbias in studies. Selection-bias derived from unobservable characteristics in the course of participants selection of the teaching or studying programs, in the case of cross-section data instrumental variable(IV) method and two stage least square estimation were suggested as an analysis tool. Panel data were analyzed by using both fixed effect in which individual effects are captured by intercept terms and random effect estimation where an unobserved effect can be characterized as being randomly drawn from a given distribution.

• Journal of Ocean Engineering and Technology
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• v.35 no.3
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• pp.191-202
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• 2021

Studies on very large offshore structures are increasing owing to the development of deep sea, large-scale energy generation using ocean resources, and so on. The enlargement of offshore structures makes the hydroelastic effect and low natural frequency related responses important. Numerical analyses and model tests for hydroelastic and higher-order springing responses of fixed cylindrical structures are conducted in this study. The panel methods with and without the hydroelastic effect with shell elements, and the Morison analysis method with beam elements are applied. To observe the hydroelastic effect for structural strength, two structures are considered: bottom-fixed cylindrical structures with high and low bending stiffnesses, respectively. The surge motions at the top of the structure and bending stresses on the structure are observed under regular and irregular wave conditions. The regular wave conditions are generated considering the ratios of the cylindrical outer diameter to the wave lengths, and keeping the wave steepness constant. The model tests are performed in the three-dimensional ocean engineering basin in the KRISO (Korea Research Institute of Ships and Ocean Engineering). From the numerical and experimental results, in which the hydroelastic responses are only observed in the case of the structure with a low bending stiffness, it is confirmed that the hydroelastic responses are highly dependent on the structural stiffness. Additionally, the higher-order phenomenon on the specified wave condition is analyzed by observing the higher-order springing responses when the incident wave frequency or its multiples with the high wave height coincides with the natural frequency of the structure.

• Journal of the Earthquake Engineering Society of Korea
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• v.20 no.6
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• pp.379-389
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• 2016

This study intends to evaluate the conservativeness of the fixed-base analysis as compared to the soil-structure interaction (SSI) analysis for the seismically isolated model of a nuclear power plant in Korea. To that goal, the boundary reaction method (BRM), combining frequency-domain and time-domain analyses in a twofold process, is adopted for the SSI analysis considering the nonlinearity of the seismic base isolation. The program KIESSI-3D is used for computing the reaction forces in the frequency domain and the program MIDAS/Civil is applied for the nonlinear time-domain analysis. The BRM numerical model is verified by comparing the results of the frequency-domain analysis and time-domain analysis for the soil-structure system with an equivalent linear base isolation model. Moreover, the displacement response of the base isolation and the horizontal response at the top of the structure obtained by the nonlinear SSI analysis using BRM are compared with those obtained by the fixed-base analysis. The comparison reveals that the fixed-base analysis provides conservative peak deformation for the base isolation but is not particularly conservative in term of the floor response spectrum of the superstructure.

• Proceedings of the Korean Institute of Electrical and Electronic Material Engineers Conference
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• 2008.11a
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• pp.83-83
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• 2008

Metal-oxide-silicon-on-insulator (MOSOI) structures were fabricated to study the effect caused by reactive ion etching (RIE) and sacrificial oxidation process on silicon-on-insulator (SOI) layer. The MOSOI capacitors with an etch-damaged SOI layer were characterized by capacitance-voltage (C-V) measurements and compared to the sacrificial oxidation treated samples and the reference samples without etching treatment. The measured C-V curves were compared to the numerical results from 2-dimensional (2-D) simulations. The measurements revealed that the profile of C-V curves significantly changes depending on the SOI surface condition of the MOSOI capacitors. The shift in the measured C-V curves, due to the difference of the fixed oxide charge ($Q_f$), together with the numerical simulation analysis and atomic force microscopy (AFM) analysis, allowed extracting the fixed oxide charges ($Q_f$) in the structures as well as 2-D carrier distribution profiles.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.9
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• pp.39-47
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• 2022

This study explored the effectiveness of the measures taken by the Jordanian Central Bank embedded in its monetary policy in encouraging banks to support investment. It aimed to explore the impact of this monetary policy on supporting credit-related decisions and the monetary policies that aim to support investment in Jordan. The targeted tools of the monetary policy are: (Overnight Deposit Window Rate, money supply, and exports). The researchers carried out an analysis to measure the effectiveness of the monetary policy in fostering investment in Jordan during the period 1992-2020. They carried out the time series analysis. They explored the stationarity of the time series. They used the ARDL model. It was found that the Overnight Deposit Window Rate has a negative significant effect on the gross fixed capital formation. It was found that the money supply has a positive insignificant effect on gross fixed capital formation. The researcher recommends using Overnight Deposit Window Rate in a manner that is consistent with the intended investment-related goals.

• International Journal of Advanced Culture Technology
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• v.9 no.3
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• pp.271-276
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• 2021

In this paper we analyze the effect of the credit period on inventory policy under trade credit with ordering cost including a fixed cost and freight cost, where the freight cost has a quantity discount. For marketing purposes, some supplier offers credit period to his buyer to stimulate the demand for the product he produces. The delay in payments during the credit period has the effect of reducing the buyer's capital opportunity cost. It is also assumed that the buyer pays the freight cost for the order and hence, the ordering cost consists of a fixed ordering cost and a variable freight cost which depends on the order quantity. As a result, the possibilities of trade credit and discounts on freight costs are expected to play an important role in the buyer's inventory policy. Based on the economic order quantity inventory model, we analyze how the buyer can determine the optimal inventory policy and we examine the effect of the length of credit period on the buyer's inventory policy.

• Proceedings of the KSME Conference
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• 2001.06d
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• pp.408-413
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• 2001

Numerical analysis on the three-dimensional laminar flows (Re=1000) and heat transfer in a rectangular channel with punched longitudinal vortex generator have been conducted to explore the heat transfer enhancement and the combined effect of the angle of attack ${\alpha}$ and the lovour angle ${\beta}$. Rectangular winglets have been used as vortex generators. Velocity and temperature fields and spanwise averaged Nu and friction factor were presented. Enhancement of heat transfer and flow loss penalty are evidenced. The results show performance characteristics allowing a reduction in heat transfer surface area of 62% for fixed heat duty and for fixed pumping power compared with that of channel flow without vortex generator. However, adding lovour angle to the vortex generator shows no positive effect on the heat transfer enhancement.