• International Area Studies Review
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• v.13 no.3
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• pp.163-190
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• 2009

This study tries to analyze the investment determinants of Chinese firms in local Korea, where the Chinese investing ones have been operating since in the middle of 1990s. The main purpose can be mentioned to test empirically some relations between the investment determinants of Chinese firms and the investment types. In detail speaking, the dependent variables of investment types are classified with sole venture and joint venture, while the independent ones are sorted based on the previous studies with the 2 following factors like the competitive advantages of Chinese firms, and the location advantages of local Korea. This study is conducted as the following: the survey of Chinese firms engaging in investment activities in there is implemented by collecting questionnaires. And for testing the hypothesis, the path analysis of structural equation modeling is activated with SPSS. 12.0 and AMOS 11.0 for windows.

• Asia-Pacific Journal of Business
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• v.13 no.1
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• pp.37-52
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• 2022

Purpose - The objective of this study is to investigate what motivates global FDI inflows in the different economic development level and to clarify the FDI motivation type in the level of qualitative economic growth. Design/methodology/approach - Major macroscopic social·economic factors induced FDI inflows were analyzed using fixed-effect panel regression with 30-year panel data of 28 countries from 1985 to 2014. For analysis in the stage of economic growth, two category of developed and developing countries was used. And to analyze FDI motivation type in the level of qualitative economic growth, 4 shares of GDP; consumption·government·investment expenditure and export, was used as explanatory variable. Findings - In developed country, TFP(total factor productivity) and GDP have a great influence on FDI inflows, and consumption and labor compensation have a slight effect. This result indicates that the market seeking-driven, horizontal type investment is shown along with efficiency seeking investment. In developing country, human capital and TFP is shown to have greater impact on FDI inflows and labor compensation, exports, investment and government expenditures also have impacts. Thus it has confirmed that not only efficiency-seeking vertical investment for using low cost well educated laborer, but also government-driven economic growth and export policies could affect the FDI inflows. Research implications or Originality - The FDI investment decision making of multinational companies is decided by their own purpose. But, in the concept of as follows; 1) FDI is a long-term capital flowing for maximization of economic utility with limited global resource, 2) Thus FDI could be affected by macro socio·economic factors of host country. 3) Also such macro factors is different by each economic growth qualitative level. Therefore macro socio·economic factors of each country could be affected by the qualitative level of their own economic growth. To attract FDI inflows, it is desirable to implement differentiated incentive policies in the qualitative level of economic growth. Furthermore in developing countries it is recommended to implement government driven economic growth policies as follows; fostering well educated human resources, improving technology productivity in the relative lower cost labor market compared to developed countries and boosting international export volume.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.12 no.1
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• pp.1-13
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• 2017

The purpose of this study is to find out which factors determine the success of start-up in the initial market and what are the most important determinants. For the empirical analysis, the questionnaire related to the analysis of success factors for start-up success was designed according to the quantitative analysis (AHP technique). First, we selected 8 representative success factors for successful start-up in the initial market. In order to determine the degree of priority among these factors, we surveyed 12 entrepreneurs who are interested in entrepreneurship, universities, research institutes, and public officials. As a result of the empirical analysis, 51% of the funds in the tier 1 were ranked as the top priority to determine success factors. Followed by research and development (32.5%), management (8.7%) and marketing (7.8%). In particular, when each of the four items is calculated as 100 according to the result of the tier 1, and the tier 2 is converted, the foreign investment is analyzed as 43.7%. It was followed by 15.14% of R & D facilities, 14.07% of ideas, 8.7% of managerial ability, 7.29% of domestic investment, 5.85% of buyer feedback, 3.3% of development strategy and 1.95% of marketing strategy. Among the eight success factors, overseas investment items showed the closest preference to half, and it was the most important variable that determines the success or failure of market entry. The implication of this study is that many start-ups in Korea expect to receive investment and support from overseas accelerators. This means that overseas investment itself has been recognized as a start-up that makes services and products that can be used in the global market. A high preference for attracting foreign investment is due to the fact that the amount of investment is larger than that of Korea and that it can flexibly cope with the pressure on the performance compared to domestic investors. In this study, it was meaningful that we could confirm this fact through questionnaires of start-up experts. In future research, we need to find a viable alternative through studying how to provide start-up to foreign direct investment at the national level.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.44
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• pp.239-255
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• 2009

The purpose of this article is to examine the Utilization of Umbrella Clauses in Investor-State Contract Disputes. To accomplish the purpose, this article analyzes the ICSID case of SGS v. Pakistan and SGS v. Philippines. Umbrella clauses have become a regular feature of international investment agreements and have been included to provide additional protection to investors by covering the contractual obligations in investment agreements between host countries and foreign investors. In particular, two recent ICSID decisions, SGS v. Pakistan and SGS v. Philippines, have brought to the forefront the question of whether the umbrella clause applies to obligations arising under otherwise independent investment contracts between the investor and the host State. In focusing on the SGS decisions, this article will give some useful guidelines to Government and Academia under currently prevailing environment of the Free Trade Agreement("FTA") in Korea.

• Environmental Engineering Research
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• v.25 no.1
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• pp.71-79
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• 2020

This paper uses super-efficiency DEA model and Malmquist index to evaluate the carbon emission efficiency (CEE) values of the nine western provinces along the "Silk Road Economic Belt" for the period from 2000 to 2015, and analyses the influencing factors of the CEE. The major findings of this study are the following: (1) the overall CEE of the nine western provinces is not high, and there are significant inter-provincial differences in the CEE. Meanwhile, the provinces with higher levels of economic development generally have higher CEE. (2) The annual total factor productivity (TFP) of the nine western provinces, which is mainly determined by technological change, is greater than 1. Moreover, the total average growth rate of the TFP is 15.5%. (3) The CEE of the nine western provinces is not spatially dependent. In addition, the urbanization, openness, use of energy-saving technologies and research and development (R&D) investment have a significant positive impact on the CEE values, while the industrial structure, foreign direct investment, fixed asset investment, government expenditure levels and energy structure have a significant negative impact on the CEE. Among them, R&D investment is the primary factor in promoting the development of CEE, and the government expenditure has the greatest negative impact on the CEE.

• International Commerce and Information Review
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• v.12 no.4
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• pp.171-192
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• 2010

In general, a stock index and its individual stocks are assumed to follow a random walk. A stock index is an important source of information and one that is seen by people everyday, regardless of their investment intentions. This paper examines the correlation between the KOSPI-the index that best reflects the Korean stock market and the macro - economic variables that have been found to influence the index by previous studies. The sample period considers the years after 2000 when the Korean stock market matured as restrictions on foreign investors were removed. For this purpose, a Vector Error Correction Model (VECM) and KOSPI equation with a general pacific approach were used. This paper aims at verifying the factors that determined the KOSPI after 2000 and at examining whether there was structural change in the investment environment. It also investigates changes in the factors determining the KOSPI's performance as a result of structural changes in the investment environment. The V AR (Vector Autoregressive) model including the nine variables was selected as a baseline model whose stability was tested using the unit root test. The results from the VECM and the structural changes in the investment environment can be summarized by the following Inner story points.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.5
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• pp.543-549
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• 2021

The stock market plays a crucial role in the growth of industry and trade, which eventually affects the economy. This paper studies the determinants of stock market development in Jordan using yearly time-series data (1978-2019). The autoregressive distributed lag approach is applied to examine co-integration, while the vector error correction model is employed to estimate (long-run and short-run) causal relationships. The results show that macroeconomic determinants such as gross domestic product, gross domestic savings, investment rate, credit to the private sector, broadest money supply, stock market liquidity, and inflation rate are important determinants of stock market development. These findings provide vital implications for policymakers in developed and emerging stock markets. First, economic development plays an imperative role in stock market development. Second, developing the banking sector is mandatory because it can significantly promote stock market development. Third, domestic investment is a significant determinant of stock market development, especially in emerging countries. However, it is vital to launch policies that lead to encourage investment and promote stock market development, and this could be done through (1) encouraging competition, (2) improving the institutional framework, and (3) removing trade blocks by establishing a mutual connection between foreign private investment entities and government authorities.

• Korea Trade Review
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• v.44 no.1
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• pp.87-99
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• 2019

Recently there are sharp increase in number of studies related with facilitation of Inward-FDI or Multinational Enterprises invested in Korea region. The most of studies are mainly purposing to survey - 1)how Korea Government makes counter plan and assistance policy to make foreign capital and Inward-FDI more attractively and aggressively, 2)what is the new framework or system for Inward-FDI policy, 3)what is economic effect of Inward-FDI, 4)what are determinants or conclusive factors of FDI in Korea. Under this situation, the goal of this report is to find out the new way for Multinational Enterprises to reinvest continuously thru getting their better investment performances on several factors including Marketing Competence, Management Ability, Localization Management Skill, Business Management Strategy, and R&D Competitiveness which would be much more important determinants influencing re-investment of Multinational Enterprises in Kora. This report based on the empirical result and comprehensive analysis will eventually help policy makers to implement the appropriate strategy and support Multinational Enterprises to proceed positive circle's re-investment activity in the end.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.14 no.11
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• pp.5465-5475
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• 2013

In this study, when to invest in real estate abroad, to present a real option in the way of decision-making. Thus, by using the binomial option model of one of the real thing and DCF, we compared the choice of real estate investment in China and South Korea. Research concerns the real estate market of Shanghai and Seoul, Analyzed the data between 2001-2009. Results were calculated NPV investment period (Net Present Value), Seoul appears in 435.44, Shanghai was 398.26. Investment decision by NPV method will select Seoul. However, as a result of calculating the value using the real option, it was found that for Seoul appear in 615.4, Shanghai has been shown to 626.1, and is suitable for investment in Shanghai. Assuming on the basis of this, that it has invested in practice, and compare the results, Seoul is intended for since 2010, real estate prices fell to 2013 currently, damage has occurred, profit's occurred Shanghai. This ensures that when making decisions in real estate investment and to use the real option than the existing DCF is appropriate.

• Journal of Korea Port Economic Association
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• v.39 no.2
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• pp.179-194
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• 2023

ASEAN is emerging as the next-generation market following BRICs. Korea is also an important economic cooperation partner as a second trading partner and third target for overseas investment. ASEAN is attracting attention as an attractive business place for many companies as a future investment area in the future. Therefore, the Korean government is strongly promoting a "New Southern Policy(NSP)" to develop cooperative relations with ASEAN. As ASEAN has recently emerged as a central area for shipping and logistics development, development cooperation and support for the shipping and logistics sector in the ASEAN region of neighboring countries are also active in entering the new southern region and the government is supporting it. In order to enter these countries, it is necessary to accurately understand the investment attraction system, strategy, and market for entering the business in other countries. Among the various methods of entering the overseas market, it is essential to understand the business selection and establishment method suitable for localization strategies such as foreign direct investment and establishment of foreign corporations. In order to understand the Overseas Investment Act and the Corporate Establishment Act of shipping and logistics-related companies who want to enter marine ASEAN countries, we will study the overseas investment method and the establishment method according to the type of company.