• The Journal of Fisheries Business Administration
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• v.53 no.1
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• pp.17-53
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• 2022

This study investigated the initial capital trend of newly-established fisheries companies during the Japanese occupation period. The initial capital size of fisheries companies provides information about the viability of the fisheries companies as well as the utilization intensity of fisheries resources. According to the analysis results, the average initial capital size of fisheries companies was larger in the enforcement period of "Chosun Company Ordinance" than in its abolition period. The initial capital size of the Chosun-capital fisheries company was smaller than that of the Japanese-capital fisheries company during the Japanese occupation period. The number of new fisheries companies funded by Chosun capital was less than the number of new fisheries companies funded by Japanese capital. Therefore, it could be seen that the Japanese fisheries companies had stronger dominance in the fisheries sector than the Chosun fisheries companies during the Japanese occupation period, and that Japanese fisheries companies were more viable than Chosun fisheries companies.

• Child Studies in Asia-Pacific Contexts
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• v.2 no.1
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• pp.29-43
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• 2012

The purpose of the study was to generate the candidate items for the Adolescent Friendship Social Capital Scale. Both inductive and deductive approaches were used to generate the scale items. Halpern's conceptual map of social capital served as the theoretical basis of this scale, and guided the development of items. Semi-structured interviews with adolescents in Sydney, Melbourne and Beijing generated the initial pool of scale items. Twenty-six items were generated for the Adolescent Friendship Social Capital Scale. The items are organised in four theoretical constructs: Bonding Networks, Bridging Norms, Bridging Sanctions, and Linking Networks. Each item is a short statement followed by a five-point Likert scale anchored by 1= "Strongly disagree" and 5= "Strongly agree". The scale has several advantages over previous measures of adolescent friendship networks and friendship social capital. The scale has a strong and clear theoretical structure, the scale items demonstrate initial construct and content validity, and the format of the scale enables the collection of continuous data. However, in order to ensure the validity and reliability of the scale, another two stages of research need to be conducted in the future: scale development and scale evaluation.

• Journal of Distribution Science
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• v.13 no.6
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• pp.71-78
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• 2015

Purpose - This study attempts to analyze whether or not there are characteristics among the top management of companies that promote corporate performance at venture companies. It investigates the characteristics of the human and social capital that are inherent in top management at a venture company and conducts an empirical analysis of hypotheses examining if these characteristics will affect utilization of the governmental R&D support system as well as affect the firm's initial success. Research design, data, and methodology - This study conducted theoretical and empirical research together to accomplish the goal of the study. The pilot study researched human capital and social capital as the independent variables; the governmental R&D support system as the parameter; and, the initial success as the dependent variable. The empirical study carried out research on the model, establishment of hypotheses, and the statistical treatment. A survey was conducted targeting top management of high-tech venture companies in Daedeok Innopolis; 500 questionnaires were distributed; and, 222 were collected. Results - The human and social capital inherent in top management at venture companies in the early stages of their existence become good evaluation data for those who are invested in similar resources. If top management includes strong human and social capital, access to external resources will be easier; these will have a positive influence on the selection of overnmental support systems; and, this proper support will also have a positive influence on the initial success of the venture company. The results revealed the following. First, it was found that when the educational level and functional background, (the top management human capital), are the output function, top management human capital had a significant influence on selection of governmental R&D support funds. Second, it was found that the internal social capital and external social capital, (the top management social capital), had a significant influence on selection of governmental R&D support tasks. Third, it was found that selection of the governmental R&D support tasks at the start of the venture company had a positive influence on the corporate financial performance such as sales, business profits, and the increase in workers; and, had a significant influence on nonfinancial performance such as market share, competitive position, product competitiveness, and the future product development. Conclusions - Selection of the governmental R&D support system is not recognized as part of the direct sales of a venture company in its early stages, but as it can reduce costs for technical development and helps significantly in creating test products and mass production, it has a positive influence on the company's financial performance and nonfinancial performance as a result. Therefore, companies should take great efforts to frequently be selected as a candidate in the governmental R&D support system, as it can help facilitate R&D that requires extensive funds. As a result, companies can expect effects such as job creation and patent applications and they can advance future product sales.

• 한국벤처창업학회:학술대회논문집
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• 2017.04a
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• pp.49-49
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• 2017

This paper provides theory and evidence on how venture capital's (VC's) investment influence on new venture (NV) performance. Despite the wealth of research on the relationship between VC's investment and NV's performance, there are conflicts about whether the VC's investment can contribute to the performance of NV and NV's market value or not. For the accurate measure of the investment effect from VC, this research explored how the venture capital's investment in each development stage affects the NV's performance. The research was based on signaling theory and the theory of information asymmetry and looked for which factors affect a NV's performance. Using a sample of 364 firms went to public from 2000 to 2007, we find NV performance increases as NV acquires initial investment of VC in the early stage of development. While NV's potential absorptive capacity moderates the main relationship positively, we find no indication that NV's realized abortive capacity and NV's reputation have significant effect on the main relationship as moderators.

• Journal of the Korean Regional Science Association
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• v.15 no.1
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• pp.63-73
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• 1999

It is generally believed that there is a trade-off between economic growth and environmental quality since pollutants are generated in the process of production and consumption of commodities. Several researchers have shown this prevailing belief using the short-term input-output models. The literature, however, shows that there have been few attempts to investigate the relationship using long-term forecasting models. This motivates the current paper. This paper attempts to build a reginal growth model in a partial equilibrium framework taking into consideration the requirements of capital invested for pollutant abatement. Model is largely neoclassical. Labor is assumed to move a region with high utility specified in regional per capita average was income and pollution level while capital is partially mobile to a region with high returns. The regional growth is explored in a phase diagram. The paper shows that there are two stable growth equilibria which a region can converge over time and that the equilibria are distinguished by the initial threshold capital stock that a region holds. If the initial capital stock of a region is over(under) than the threshold size, the region converges to the higher (lower) growth equilibrium over time. Moreover, based on this result an environmental quality enhancing policy is analyzed in the phase diagram. It has revealed that the policy calls for the relocation of growth equilibrium points, specifically speaking, it stimulates an increase in labor stock and a decrease in capital stock. Hence the paper has suggested that the prevailing belief which the environmental policy negatively impacts on a regional economic growth is not always true.

• Resources Recycling
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• v.13 no.5
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• pp.51-56
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• 2004

Economic benefits of the dry bottom ash handling system over the wet bottom ash handling system in a new 500MW${\times}$2units pulverized coal thermal power plant in Korea were evaluated. The higher initial capital cost in the dry bottom ash handling system was estimated. However, this higher initial capital costs would be compensated with reductions of the operating cost mainly due to the recycling of bottom ash. Economic analysis showed that the payback period of 4.9 years and the internal rate of return at 21.1% were expected for the additional initial capital cost of the dry bottom ash handling system.

• Korean Journal of Air-Conditioning and Refrigeration Engineering
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• v.20 no.5
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• pp.321-326
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• 2008

This paper presents and analyzes the effects of on-grid electricity cost, fuel price and initial capital cost of a CHP system, on the optimum DG and AC capacity and NPV, by using the ORNL CHP Capacity Optimizer, which was applied to a library in a university. By considering the current domestic energy cost and initial capital cost, it is shown that the installation and operation of the CHP system is not economical. However, with the current domestic CHP installation cost and fuel price, the NPV achieved by the installation of CHP system is greater when the on-grid electricity price is a factor of ${\times}1.5$ the present value. Regarding the initial capital cost of the CHP system, the reduction of the DG cost is much more economical than that of the AC cost, with respect to NPV. Electricity cost and fuel price have opposite effects on NPV, and NPV is more sensitive to an increase of the electricity cost than an increase of the fuel price.

• Journal of Distribution Science
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• v.12 no.10
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• pp.5-9
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• 2014

Purpose - This paper aims to critically examine capital market developments in India before and after liberalization. Research design, data, and methodology - The paper examines the Indian capital market from its inception to the latest developments related to both primary and secondary markets, and also discusses recent initiatives of capital markets to enhance the expected level of services to the investor community. It also sheds light on the regulatory framework for investor protection. Results - The study further highlights the future roadmap for the radical development of the Indian capital market. The paper identifies the various initial obstacles and intricacies that affect the smooth functioning of the Indian capital markets. Hence, the paper articulates that these concerns should be addressed by the regulatory authorities and at the policy level at the earliest for further strengthening the capital markets in the interests of the economy in general and retail investors in particular. Conclusion - This is a topic of utmost contemporary importance to worldwide national economies, and calls for novel methods and techniques in dealing effectively with the menace facing capital markets.

• KDI Journal of Economic Policy
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• v.37 no.2
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• pp.64-97
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• 2015

This paper studies a series of capital market promotion policies Korea pursued over a 30-year period during its development era (1960s - 1980s). The purpose of this paper is twofold. The first purpose is to understand the policy approaches Korea took, and the second is to extract lessons that can benefit policymakers in the developing world, where capital market promotion is an important policy goal. There are two key features of Korea's capital market promotion policies. First, the government was actively involved, sometimes indirectly by giving tax incentives to encourage IPOs. However, in other times, it was directly involved by giving IPO orders and threatening those that did not comply. No stock exchange in a developed country has ever experienced such government involvement. Combined with rapid economic growth, this interventionist approached allowed the Korean stock market to experience phenomenal growth over a short period of time. Second, the capital market promotion policies had multiple objectives. One was to mobilize domestic capital for economic development. Another was to lower firms' debt-to-equity ratios. Most interestingly, however, the Korean government wanted to popularize stock ownership, thereby allowing ordinary Koreans to share in the fruits of economic growth.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.3 no.3
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• pp.203-209
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• 2002

The Korean venture industry showed a rapid growth due to various government incentive measures, development in information technology, and explosive growth of the KOSDAQ market. Recently, however, the Korean venture industry has revealed numerous side effects, which seemed to be coming from excessively aggressive government involvement in the industry, and fallen into a deep depression. This phenomenon may imply that the Korean venture industry has been established by the government policy rather than based on the venture capital market, whereas the venture industry in advanced nations has grown up autogenously based on it. This paper analyzes the Korean venture capital market and suggests policy recommendations to revitalize the domestic venture capital market. They include facilitating the supply of funds through limited partnerships and overseas venture capital, extending the direct equity investment, and actively promoting the KOSDAQ market.