• International Area Studies Review
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• v.15 no.2
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• pp.77-100
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• 2011

The Korean economy have experienced the remarkable decreases in factor prices such as bond yields, real wage since the IMF foreign exchange crisis. This paper investigates the effects of the price changes in the factor markets on determining the level and cyclicality of industrial markups in the manufacturing industry. For this purpose, we construct a markup equation in the small open economy based on the production function including foreign intermediate goods and assuming constant returns to scale technology and AR(1) process of technological coefficient. Empirical results are summarized as the followings. The empirical results shows that the increased markups after the IMF crisis can be explained by the price decreases in the factor markets which result in lowering marginal costs. And we also observed counter cyclicality of markup, labor share and interest rates while real wages, technical coefficients, and production price index proved to be pro-cyclical. In conclusion, the price changes in factor market have contributed to the stickiness in markup fluctuation in the manufacturing industry.

• The Korean Journal of Financial Management
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• v.20 no.2
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• pp.151-180
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• 2003

We examine the interdependence of the major Asia-Pacific stock markets including S&P 500, FTSE 100, Kualar Lumpur Composite, Straits Times, Hang Seng, NIKKEI 225 and KOSPI 200 from October 4, 1995 to March 31,2000. The analysis employs the vector-auto-regression, Granger causality, impulse response function and variance decomposition using daily returns on the national stock market indices. The findings in this paper indicate that the volatilities of all countries has grown after IMF crisis, while there is no significance in cointegration test of both total period and sub-periods. This result implies that investors are able to get abnormal returns by investment diversification according to the portfolio theory. We find that while the effect from NIKKEI 225 to others is relatively weak, the interdependence from S&P 500 to other countries is strong. Also we find that the strong effect from Straits Times to Hang Seng exists. This study suggests that there is slight feedback relation between KOSPI 200 and Kualar Lumpur Composite, Straits Times, Hang Seng stock market.

• Korea journal of population studies
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• v.22 no.2
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• pp.121-161
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• 1999

1997년 11월 대외지불 불능사태로 시작된 외환위기가 경제위기로 확산되면서 97년 4/4분기에는 2.5%에 불과하던 전북지역의 실업률은 99년 2월 8.4%로 피크를 이루었으나 그후로는 감소추세를 보이고 있다. 그렇지만 전북지역 노동시장의 전반적 고용동향을 살펴보면 실업률 통계로는 파악되지 않지만 실질적으로 준실업상태에 있는 실망노동자와 불완전취업자의 증가가 심각한 것으로 드러났다. 그리고 산업별 취업자 구조의 변화를 살펴보면 제조업과 건설업의 취업자 감소가 두드러졌으며, 농업부문이나 생계형 서비스업은 실업대란 시대에 완충역할을 해줄 것이라는 기대와는 달리 고용흡수력이 예상보다 훨씬 적은 것으로 드러났다. 취업과 실업 및 비경제활동 사이의 노동력 전이률을 살펴보면 남성과 핵심연령층에서는 취업정착률이 높지만 일단 실업자가 되면 실업으로부터의 탈출률이 낮은 것으로 드러났다. 반면에 여성의 경우에는 실망노동자(discouraged sorkers)효과로 인하여 실업률은 낮고 비경제활동으로의 이동이 크게 나타났다. 그리고 실업이나 비경활상태로부터의 (재)취업시에는 압도적으로 임시고/일고로의 취업이 많아서 98년 하반기 이후 전북지역에서 창출된 일자리가 주로 임시고/일고 위주로 이루어져 있음을 극명하게 보여준다. 한편 여성실업자의 경우 50%이상이 생계주책임자이며, 특히 여성가장 실업자의 경우에는 90%이상이 생계책임자이나 그들 대부분이 빈곤선이하에서 생활하고 있다. 그리고 전북지역에서는 전국수준에 비해서 장기실업률이 다소 높게 나타났다. 저학력층과 고령층, 생산직, 임시고일고등의 비정규직 실업자들의 구직기간이 긴 것으로 나타났다. 실업이 장기화되면 전반적으로 기간의존성효과(duration dependence effect)나 이질성효과(heterogeneity effect)로 인하여 재취업의 가능성은 더욱 떨어진다. 생산적복지(workfare)가 그 이름에 값하는 것이기 위해서는 시장경쟁력이 약한 취약계층에 대해서 직업훈련과 취업알선 및 채용장려, 공공근로 등의 제반 정책들이 가구되어야 할 것이다.

• Korean Journal of Construction Engineering and Management
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• v.14 no.5
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• pp.12-25
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• 2013

Unsold new houses have increased before the financial crisis, and have steadily accumulated since domestic diffusion ratio of house exceeded 100%. From a long term point of view, it is important to liquidate unsold new houses and raise funds from the capital market till the housing market recovers because the accumulation of unsold new houses is a financial burden to the construction company and for that reason, the housing policies to support the liquidity of unsold new houses must be consistently available means. Therefore, the purpose of this study is to analyze the effectiveness of government's policy to support the liquidity of unsold new houses using CR-REITs from among these policies with system dynamics. Using the system dynamics model, this study finds the significance and limitation of the policy to liquidate unsold new houses using CR-REITs and suggests the measures to improve the policy.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.18 no.3
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• pp.586-599
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• 2017

This study attempts to understand the overall research trends in Vocational Studies using a text mining method, which is a means to analyze big data. The findings of the research show that Vocational Studies in Korea has been directly influenced by global economic crises, as evidenced by its exponential growth after the 1997 foreign exchange crisis that resulted in a bailout from the IMF. In addition, the topics of research have been shifting from such macro subjects as government policies and systems to such micro topics as individual career development. Moreover, the perspective of research is being moved from the socially vulnerable, including women and the disabled, to the economically marginalized, including retirees and the unemployed. As for the research targets, college students overwhelmingly outnumbered primary and secondary school students. However, few cases analyzed the clinical outcomes of career counseling or attempted to process job information and study the history of jobs. This research is limited in that it only analyzed journal abstracts. Nonetheless, it is meaningful because it used topic analysis, one of the text mining methods, to give a complete enumeration of all articles available for search, thereby crafting a framework of quantitative analysis methodology for Vocational Studies. It is also significant in that it is the first attempt to analyze themes in every stage of the development of Vocational Studies.

• Korean Association of Arts Management
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• no.56
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• pp.305-327
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• 2020

This study started with the question of whether the museum oral history recording projects, which have been increasing steadily in recent years, are being used in various forms, especially in exhibitions. This paper is emphasized on the need for the oral history-related projects to lead to various museum activities including exhibitions and educations and so on. As a practical example of this, to explore the future directions and tasks for oral history projects in museums 'A Research Project of Producing Oral History Video Clips for the Exhibition of IMF Financial Crisis Situations' of National Museum of Korean Contemporary History is analyzed. This research argues that oral history functions as an exhibition representation device that more actively reveal the reality of a specific historical event. Therefore, this study suggests that the museum can be developed as a venue for various discourses in which citizens participate actively using oral history.

• The Korean Journal of Financial Management
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• v.24 no.2
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• pp.81-111
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• 2007

The agency relationship between managers and shareholders has the potential to influence decision-making in the firm which in turn potentially impacts on firm characteristics such as value and leverage. Using an agency framework, we examine the relation between ownership structure and capital structure during post-IMF period. We used the balanced panel data for 378 korean listed companies during the 1999-2005. The panel data sets consist of time-series observation on each of 378 cross-sectional units. The results indicate a non-linear U-shaped relation between the level of managerial share ownership and leverage with the relation reaching a minimum at 58.48 per cent of management share ownership. As managerial share ownership increase from a low level, managers have incentive to reduce the debt level for decreasing the financial risk, resulting in a lower lever of debt. However, when corporate managers hold a significant proportion of a firm's shares, managers have incentive to increase the debt level for leverage effects, resulting in a higher lever of debt.

• Korean Business Review
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• v.14
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• pp.149-168
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• 2001

Service firms have always been relationship oriented. the nature of service businesses is relationship based. As service finns, like banks, insurance finns, have grown, The masses of consumers have made the establishment of true relationships more difficult. Understanding the motivations of consumers to engage in relationships with marketers is important for both practitioners and marketing scholars. To develop an effective theory of relationship marketing, It is necessary to understand what motives consumers to reduce their available market choices. This article focuses on the development of the successful relationship strategies in domestic banks. The results of this study show the four types of relationship strategies - social bonds, structural bonds, financial bonds, and other bonds. Although the effectiveness of these strategies differs as the types of performances, All four types of relationship strategies are essential for building and maintaining relationships with customers. Totally, the order of influences on the performance is as follows; financial bonds, structural bonds, and social bonds.

• Korean journal of communication and information
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• v.78
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• pp.177-205
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• 2016

This study set out to investigate the reality of local press and changes to the occupational identity of reporters through the job mobility of reporters at local newspapers. The study examined what reasons the reporters had when they retired from one of three paper newspapers in Daejeon, where they moved to, and how their career mobility was. Some of them remained in the field of journalism including paper newspapers of the same kind and Internet newspapers, and others moved to various areas including politics, administration, academy, economy, and culture and art. The biggest number of them said they left their old paper newspapers because of poor wages and welfare benefits and absence of future visions. Their decision of leaving their old paper newspapers was also influenced by restructuring, restrictions to coverage and reporting, and great workload. Before the IMF foreign currency crisis in 1997, the press labor market was a typical internal labor market with the practitioners joining a newspaper in open recruitment and climbing up the promotion ladder from a common reporter through Deputy Head and Head of a department to Director of a bureau. The emergence of new media and the financial difficulties of newspaper corporations were currently making the internal labor market worse. Reporters made active use of social capital such as regionalism, alumni ties, and news beats rather than changing jobs by increasing their professionalism through self-development, thus causing side effects including the weakened supervision and criticism functions of local newspapers and damaging their occupational identity as reporters.

• Information Systems Review
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• v.10 no.2
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• pp.159-177
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• 2008

Since the IMF crisis, the competition among banks in Korea has fiercely intensified. To survive in the severe competition, several leading banks including Industrial Bank of Korea (IBK) have recently developed their own proprietary systems called 'the Next-Generation Systems(NGS).' This case study was to answer several important issues as follows; 1); the reason why a bank make huge investment in the IT infrastructure; 2) the development methodology of the NGS; 3) the new architecture of the NGS; 4) the governance structure of the NGS investment; and 5) the effects of the NGS on the development of new products. To achieve such goals, a systematic tandem interview method and many archival reports from IBK were utilized. The conclusions are summarized as follows: First, the NGS has contributed to the integration and simplification of business processes. Second, new products as demanded in the market can be developed much faster through the NGS. Third, the change management of IT infrastructure is critically important. Fourth, the systems architecture can be different according to the IT governance. Fifth, the alignment of the NGS and business processes is most important to obtain the organizational goals.