• Journal of Labour Economics
• /
• v.26 no.3
• /
• pp.29-47
• /
• 2003

The study analyzes how effective the Government Internship Program has been on accumulation of the human capital. The Program was designed under the foreign exchange crisis to support the new, but unemployed graduates with MA or Ph.D degree in the science and the engineering fields. The survey data is collected from the participants in the Program. The Tobit model is estimated to find the economic effects of the Program in terms of the rate of return of investment in the human capitals of the intern researchers. Considering that the Program is tentative and that the human capitals of the participants are easily obsolescent, the rate of return is observed to be substantially large. These results imply that the Internship Program has been successful in terms of providing not only the researchers with the opportunity to accumulate the human capital by means of the on-the-job-training, but also the institutes or the firms with the opportunity to utilize the high-quality researchers at the low cost.

• 한국벤처창업학회:학술대회논문집
• /
• 2006.11a
• /
• pp.197-217
• /
• 2006

Korea economy's latent growth rate has already been decreased about 4%. During 1983-1989, the latent growth rate was 8%, before the foreign exchange crisis, 1990-1997 was 6.7%, and during $2000{\sim}2004$, it had been decreased 4.4%. The latent growth rate means economy growth rate which one nation can achieve capital, labor, and factors as applying these. Our economy growth rate was 8% in 1980s, but it had been decreased about 6.7% during $1990{\sim}1997$, after 2000, it remarkably decreased 4.8% which shows weakness of our economy's strength. This study attempts to investigate about export growth factor of venture company in our nation's growth that depends on export. This thesis studied the companies continuance and growth in external environment's regular correlation and casual relationship which surround company's factors and internal. Also, the external environment, which surrounds company, can be thought that company can't control itself, so that the company's continuance and growth can be decided because of its internal primary factors. This thesis establishes and analyzes the study model that how factors can affect to company's growth.

• Proceedings of the Korean Institute Of Construction Engineering and Management
• /
• 2006.11a
• /
• pp.408-413
• /
• 2006

Recently, the economic trend of internal enterprises toward the world market appears to exceedingly associate with industrial plants. Such circumstance would limit the diversity of project items and cause various issues of extreme disproportion of overseas construction market at the same time. Consequently, it seems essential to inspect the present state of bookings in the civil engineering and construction fields including the service corps, regarding the former period (from the year 1990 to 1996), the depressed period (from 1997 to 2000), and the latter period of monetary crisis (from 2001 to July 2006), based on the critical situation in foreign exchange occurred in the late 1990's; also important to look into the shifts of the representative items in such fields by regional groups of principal nations throughout the world. Therefore, the current situation of bookings in overseas construction companies should be clarified, and ultimately, appropriate measures should be established.

• Journal of Internet Computing and Services
• /
• v.7 no.1
• /
• pp.75-89
• /
• 2006

This paper is concerned with analysing the bankruptcy prediction power of three models: Multivariate Discriminant Analysis(MDA), Logit Analysis, Neural Network. The research targeted the bankrupted companies after the foreign exchange crisis in 1997 to differentiate from previous research efforts, and all participating companies were randomly selected from the KSE listed companies belonging to manufacturing industry to improve prediction accuracy and validity of the model. In order to assure meaningful bankruptcy prediction, training data and testing data were not extracted within the corresponding period. The result is that prediction accuracy of neural networks is more excellent than that of logit analysis and MDA model when considering that execution of testing data was followed by execution of training data.

• Proceedings of the Korean Institute of Building Construction Conference
• /
• 2009.11a
• /
• pp.225-229
• /
• 2009

International construction market has been open to other countries, and it derives the development of our overseas construction industry quantitatively as well as qualitatively. Until now, the major companies have an absolute majority in the overseas construction market, and the small and medium enterprises have had difficulty to get a leadership in the international construction market because of the lack of the technical expertise and the capital strength. Especially in the Middle East Asia, our construction companies has touched off a boom, so our market share also has grown, which derived from the up toward ratchet oil prices and a worldwide boom in real estate development. The small and medium enterprise minority have recognition that the overseas construction market is the major company's native territory. But Data from the existing researches and many statistics indicate the most companies tend to underestimate the capacity and international competitiveness of the small and medium enterprises. As a matter of fact, hundreds of small and medium enterprise cut a conspicuous figure in overseas market. Consequently, it is indispensable to overcome the international financial crisis by revitalizing our overseas construction industry which obtains excellent results in international market. this study suggested the ways to expand overseas bonding capacity of Korean financial institution. This study proposed the Korean government to allow Construction Guarantee (former Korea Construction Financial Cooperative) to deal with foreign exchange so that Construction Guarantee will underwrite the overseas construction bond.

• Journal of Technology Innovation
• /
• v.26 no.4
• /
• pp.98-121
• /
• 2018

This article analyzes the survival of Korean software firms from 1995 to 2015 by Cox regression model and product-limit method. The results show that survival rates are different for each sector: IT service, package software, game software and internet service. In addition, firm growth and investment in research and development positively affect software firm's survival, while slack resources negatively affect the software firm's survival. The implication of this study is that characteristics of the software industry and technologies should be taken into consideration in survival strategy of software firms and government policy. Previous research on survival analysis has been mainly conducted in the manufacturing industry or at the special circumstance such as the foreign exchange crisis of Korea in the late 1990s. The contribution of this study is that expanding the survival analysis to software firms in Korea which are becoming more important recently.

• International Area Studies Review
• /
• v.21 no.4
• /
• pp.3-17
• /
• 2017

The purpose of the paper is to suggest the empirical evidences for the effects of factor prices on the export performance in the Korean manufacturing industries during the period 1975:1-2016:4. The paper is to set up the error correction model derived from the autoregressive distributed lag scheme and to estimate the factor price elasticities of export in the 8 manufacturing industries. The real wage, interest and import price index elasticities of export all were estimated to be statistically significant at 1% level in the most industries with showing negative signs as expected. And the real wage elasticity proved to likely be smaller as the industries become more capital-intensive while the import price index elasticity tended to become larger in industries with larger ratio of imported intermediate goods to output. The empirical results suggest that the declines in input factor prices since the foreign exchange crisis in the end of 1997 have positive effects on the export performance in the Korean manufacturing industries.

• The Korean Journal of Applied Statistics
• /
• v.23 no.1
• /
• pp.63-71
• /
• 2010

Business entrepreneurs reflect their views of domestic and foreign economic activities on their operation for the growth of their business. The decision, forecasting, and planning based on their economic sentiment affect business operation such as production, investment, and hiring and consequently affect condition of national economy. Business survey index(BSI) is compiled to get the information of business entrepreneurs' economic sentiment for the analysis of business condition. BSI has been used as an important variable in the short-term forecasting models for business cycle analysis, especially during the the period of extreme business fluctuations. Recent financial crisis has arised extreme business fluctuations similar to those caused by currency crisis at the end of 1997, and brought back the importance of BSI as a variable for the economic forecasting. In this paper, the meaning of BSI as an economic sentiment index is reviewed and a GUIDE regression tree is constructed to find out the factors which affect on BSI. The result shows that the variables related to the stability of financial market such as kospi index(Korea composite stock price index) and exchange rate as well as manufacturing operation ratio and consumer goods sales are main factors which affect business entrepreneurs' economic sentiment.

• Journal of the Korea Academia-Industrial cooperation Society
• /
• v.15 no.2
• /
• pp.1118-1125
• /
• 2014

The past IMF foreign exchange crisis and subprime financial crisis had a big influence on variability of macroeconomics, even if the origin of its occurrence might be different. This not only had a significant infrequence on the overall industries, but also produced many insolvent companies by being closely linked with a management environment of an individual construction company leading the construction industry. The purpose of this research is to investigate characteristics of management condition of construction company according to the size of construction company using KMV model developed on the basis of the Black & Scholes option pricing theory. This research has set 28 construction companies listed to KOSPI/KOSDAQ for applying the KMV model and measuring the level of the default risk of construction companies. The data was retrieved from TS2000 established by Korea Listed Companies Association (KLCA), Statistics Korea. The analysis period is between first quarter of 2004 and fourth quarter of 2010. This research examine characteristics of the level and fluctuation process of the management condition of construction company according to the size of construction company.

• Knowledge Management Research
• /
• v.9 no.1
• /
• pp.97-116
• /
• 2008

The purpose of this study lies in examining how knowledge management was applied to PMI(Post Merger Integration) in bank merger. Individuals and organizations in Korea have experienced a lot of changes since the 1997 foreign exchange crisis. In such a situation, individuals came to think the only thing to rely on was personal knowledge. Since organizations had to lay off workers in order of their birth year, not based on whether or not individuals had the knowledge necessary for the organizations, they needed to have such a system that could use their explicit knowledge and even outside knowledge or customers' knowledge as IT developed by changing individuals' tacit knowledge into explicit knowledge as needed in order to continue to maintain their competitiveness and for their own development. Thus, each firm started to pitch for the introduction of knowledge management. Individuals started to store their own experience and knowledge in their homepages or blogs. It was Woori Bank, the merged bank of Hanil Bank and Commercial Bank of Korea, that introduced the knowledge management system and Shared Service Center, in which knowledge creation is available, for the first time in the banking business. Its previous name was Hanbit Bank. Hanbit Bank wanted to construct an advanced bank system, bringing in their chief information officer(CIO) from a foreign bank and introducing an IT software used in Spanish banks to adjust all banking processes to it. However, they could not help giving up the plan in the middle of the road since there was a great difference between Spain and Korea in the financial system and more than 30% of software package had to be changed. In this situation, PMI was delayed, and customer inconvenience continued, which made the integration of organizational cultures slow down. As a breakthrough in this situation, knowledge management was introduced. To integrate knowledge of two organizations in the process of PMI is an important job for all merger candidates. This study aims at presenting the successful results from using knowledge management as a means to PMI ahead of other financial institutions so they can apply them to their organizations. PMI was not achieved properly after the two banks had been merged as Hanbit, but entering the era of Woori Bank, workers were integrated under one standard organization following the organizational and knowledge integration, and knowledge management was introduced for an efficient sharing of knowledge among members. A great number of mergers have occurred up to now, but Woori Bank is the first case that used knowledge management as a means to both PMI and competitiveness enhancement. Probably it was an appropriate time when Woori Bank introduced knowledge management as it was organized. Since Hanil Bank and Commercial Bank of Korea had not introduced knowledge management until then, it could use knowledge management as a means to PMI. Using knowledge management, it could create a new organizational culture and increase competitiveness in the banking industry.