• The Journal of Asian Finance, Economics and Business
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• 제8권5호
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• pp.583-593
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• 2021

The objective of this paper is to investigate the impact of economic growth (per capita real GDP), the square of per capita real GDP, energy use, financial development (FD), and foreign direct investment (FDI) on ecological footprint (EF) in the case of Malaysia over the period 1971-2014, by employing the ARDL approach. The long-run results revealed that economic growth has a significant positive impact on the ecological footprint and it implies that the economic growth deteriorates the environmental quality in Malaysia. Conversely, the square of GDP showed a negative and significant impact on the EF in the long run. As the coefficient of GDP in our study is positive and statistically significant while the coefficient of squared GDP is negatively significant, thus, this study supports the presence of the environmental Kuznets curve (EKC) hypothesis in the case of Malaysia. Furthermore, the result indicates that FDI has a positive and significant impact on the EF in the long run, which means a rise in FDI will enhance the environmental pollution level. Thus, it confirms the pollution haven hypothesis. Hence, it suggests that Malaysia imposes stricter environmental policies. Further, FDI and FD are causing GDP in Malaysia, but through increasing EF.

• The Journal of Asian Finance, Economics and Business
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• 제8권4호
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• pp.1-9
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• 2021

UAE has rapidly developed into one of the leading global financial hubs, with significant transformations in its stock exchanges. In its attempt at economic diversification in the last two decades, the country has also taken a lead in the GCC region in introducing extensive reforms to attract FDI to the Emirates. However, oil price volatilities have posed a significant challenge to all oil-exporting countries. The main aim of this study is to explore the impact of economic diversification and oil price on the UAE stock market. The study applies Granger Causality and Vector Autoregressive Model on monthly Abu Dhabi stock exchange index, Dubai Fateh crude oil spot price, and FDI inflows during 2001-19. The short-term interbank rate has been included as a monetary policy variable. The results show a substantial difference between the two phases of reforms. Oil price and Abu Dhabi stock index show bidirectional relationship during 2001-09 but no causality was found during 2010-19. Furthermore, the second phase was characterized by unidirectional causation from FDI to ADX index. This study highlights FDI inflows as a key driver of stock market performance during the last decade and emphasizes the success of the intense reforms in the UAE initiated for the diversification of its economy.

• 유통과학연구
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• 제20권10호
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• pp.31-38
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• 2022

Purpose: This article focuses on exploring the associations between job satisfaction, organizational commitment, and turnover intention. Specifically, this study estimates the impacts of Vietnamese employees' job satisfaction on their organizational commitment and turnover intention in FDI enterprises. Research design, data and methodology: The measures are adapted from previous studies to develop a questionnaire with a seven-point Likert scale. The dataset is directly collected from 227 respondents who are employees at FDI enterprises situated in the North of Vietnam. The dataset is analyzed by quantitative approaches using SPSS 24.0 and AMOS 24.0. Results: The results show that while turnover intention is positively correlated with monthly income, it is negatively correlated with job satisfaction and organizational commitment. Also, organizational commitment is positively associated with job satisfaction among employees at FDI enterprises in Vietnam. Conclusions: The findings of this study will serve as useful references for administrators of FDI enterprises and policymakers to promote employees' job satisfaction and retain skilled employees.

• 국제지역연구
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• 제15권2호
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• pp.175-196
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• 2011

개도국이 경제성장을 시도할 때 일반적으로 유휴생산요소들이 존재한다. 이런 상황에서 수출, FDI와 내수생산이 고용증가에 미치는 영향에 대해 중요한 경제적 함의를 Myint(1958)의 잉여분출설과 Lewis(1954)모형은 제공한다. 이 논문은 이 두 이론을 바탕으로 하여 수출과 FDI를 통해서 빠른 경제성장을 이룩하고 있는 중국경제에 적용하여 수출, FDI와 내수생산이 고용에 미치는 효과에 대해서 실증분석 하였다. 먼저 Cobb-Douglas생산함수를 통해 추정방정식을 유도하여 첫째 수출, FDI와 내수생산이 고용이 미치는 효과, 둘째 수출과 FDI증가가 기술습득을 촉진하고 이것이 노동생산성향상을 통해 고용을 촉진하는 효과를 추정하였다. 추정결과 중국은 내수생산이 고용효과가 가장 컸고 그 다음 FDI였으며 수출은 그다지 큰 고용효과가 없는 것으로 나타났다. 기술습득에 의한 고용효과는 수출보다는 FDI가 더 실질적인 것으로 나타났다. 이제 중국은 고용을 창출하여 내부불균형문제를 해결하기 위해서는 수출보다는 유입된 FDI를 내수생산에 활용하는 것이 더 유효하리라고 판단된다.

• 통상정보연구
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• 제19권2호
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• pp.65-84
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• 2017

본 연구에서는 몽골 및 중앙아시아 5개국(카자흐스탄, 우즈베키스탄, 키르기스스탄, 타자가스탄, 투르크메니스탄)의 경제발전에 외국인직접투자(FDI)와 무역(TRADE) 등의 변수들이 어떠한 영향을 미쳤는지를 실증 분석을 통해 확인하고자 하였다. 1995년~2015년까지 자료를 기반으로 실증분석 한 결과 카자흐스탄과 투르크메니스탄을 제외한 나머지 국가들의 경제성장에 FDI가 영향을 미친 것으로 확인되었고, 무역의 경우 모든 국가들에게 통계적으로 유의 하지 못한 것으로 나타났다. 이러한 실증분석 결과를 바탕으로 우리가 알 수 있는 것은 개발도상국가의 경제성장을 위해서는 무역도 중요하지만 본질적인 문제라 할 수 있는 경제의 취약성을 극복하기 위해서는 해외직접투자가 필수적임을 알 수 있다. 특히 내륙국 혹은 접경국가와의 교통 및 물류망에 대한 정부의 적극적 태도가 필요하며, 성숙되지 못한 시장경제로 인한 교역 및 투자의 제약성을 극복할 수 있는 기반을 조성하는 정책실행이 중요하다는 시사점을 제시할 수 있다.

• Journal of Korea Trade
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• 제23권3호
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• pp.1-19
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• 2019

Purpose - This research examines the effect of a foreign subsidiary on the productivity growth of a Two-way trading manufacturing firm in Korea. We explore firms engaged in both trade and FDI simultaneously to verify whether participation in GVC as a broad concept is an efficient internationalization strategy to increase the productivity of a Korean manufacturing firm. Design/methodology - Based on the firm-level data by utilizing the Survey of Business Activities from Statistics Korea, we examine the impact of vertically integrated foreign subsidiaries on the productivity of a manufacturing firm that exports and imports simultaneously. Findings - The results show that if a Two-way trading firm establishes one or more overseas subsidiaries, the total factor productivity growth increases. Moreover, the FDI effect is statistically significant when the destination country has an economically close relationship with Korea. However, these effects are disparate depending on the industrial competitiveness or market situation where the subsidiary is located. Nonetheless, the synergy effect resulting from industrial combination is represented in China and the USA only. Originality/value - As the importance of GVC has become more emphasized around the world. In spite of the scarcity of related domestic studies, we explored the effect of multinational manufacturing firms participating in GVC using firm-level data.

• The Journal of Asian Finance, Economics and Business
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• 제8권4호
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• pp.55-67
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• 2021

This study aims to measure the lower tail dependence as risk contagion from the U.S. economy to 18 developing countries affecting FDI inflows using time-series data from 2005 to 2019. Firstly, we utilize four dynamic copula models, namely, Student-t, Clayton, rotated survival Gumbel, and rotated survival Joe, to measure the tail dependence structure between the U.S. and each developing country's real GDP growth. Secondly, we use the regression model to explore the contagion effects on FDI inflows. The results show that there is evidence of the tail dependence between the U.S and developing economies, indicating the presence of the contagion effects. Primarily, we observe that the degree of contagion effects of the global financial crisis varies across countries; a strong impact is observed in Chinese, South African, Russian, Colombian, and Mexican economic growth. Furthermore, we found significant contagion risk affecting FDI inflows positively in China, Indonesia, Columbia, Morocco, and negatively in the Philippines, Bulgaria, and South Africa. This study demonstrates the usefulness of the copulas model in terms of examining contagion. Our findings shed light on the influence of sound policies and regulations to cope with both positive and negative consequences of the contagion on the capital movement.

• 무역학회지
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• 제47권4호
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• pp.89-102
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• 2022

This study is designed to investigate the effect of inflow FDI on the host country's economic growth and the role of absorptive capacity in this relationship. Eight developing countries in East Asia, including Mongolia, Indonesia, Malaysia, Myanmar, the Philippines, Thailand, Vietnam, and Cambodia, are analyzed. Year data from 2000 to 2018 are used. Based on the study of Hansen (1999), the panel threshold effect model is used, and human capital, R&D, and infrastructure are set as absorptive capacity by referring to Wang and Hwang (2013). The analysis results are as follows. It is confirmed that FDI has a positive effect on the economic growth of the host country, and absorption capacity strengthens the relationship between FDI and economic growth in a positive direction. At this time, it appears that a threshold exists for the moderating effect of the absorptive capacity. It presents useful implications for economic growth in developing countries.

• Asian Journal of Innovation and Policy
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• 제7권1호
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• pp.131-149
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• 2018

Multinational corporations (MNCs) leverage global locations for efficient production and sustained growth, and move significant foreign direct investments globally, particularly into emerging economies. MNCs also engage in entrepreneurial ecosystems of host countries for strategic benefits and impact the ecosystem as well. Of late, MNCs are increasingly entering into emerging economies like India through foreign direct investment (FDI) inflows and they are playing a vital role in start-up promotion in the entrepreneurial ecosystem. Therefore, we examine the role of MNCs and its impact on the entrepreneurial ecosystems in India by exploring a symbiotic relationship between MNCs and startups. We use a case-based method to ascertain and analyze specific benefits that emerge from such symbiotic relationships and draw implications for startups in India's technology entrepreneurial ecosystem.

• 통상정보연구
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• 제18권1호
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• pp.107-127
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• 2016

본 연구에서는 몽골, 카자흐스탄, 우즈베키스탄, 키르기스스탄, 타자가스탄, 투르크메니스탄 등 중앙아시아 의 FDI 결정적 요인들에 대해 실증분석을 통해 이를 확인하고자 한다. 1993년~2013년까지 자료를 사용하여, GDP, 총 자본형성, 임금, 노동인구, 무역개방도, 사회간접자본, 부존자원 등의 변수를 중심으로 실증분석을 실시한 결과 총 자본형성, 무역개방도, 정치안정성 변수들은 FDI 유입에 중요한 결정요인이며, 반면에 GDP, 임금, 노동인구, 사회간접자본, 부존자원 변수가 유의하지 않는 것을 확인하였다. 실증연구를 바탕으로 지속적인 경제성장을 위한 FDI 유입을 촉진하기 위해서는 먼저 정치적 안정성과 투명성을 확보해야 하며, 관련 인프라 구축에 정책의 우선순위를 두며, 기술학교 설립 등을 통한 고급인력 양성에 주력해야 할 것이다.