• International Area Studies Review
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• v.17 no.4
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• pp.67-88
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• 2013

The purpose of this study empirically examines the pattern of regional disparities on the level of development in China's eastern, central, western and northeast regions for the period 1978-2012. To do this, it test Williamson's inverted-U hypothesis and Amos' augmented inverted-U hypothesis, focusing on polarization, polarization reversal, and spatial restructuring. Results of study are as follows: In the absolute economic disparity(AED) models of per capita income within a region, the Williamson's inverted-U hypothesis was supported in the eastern region, central region and inter-region model. The central region and the western region supports Williamson's hypothesis in the case of the relative economic disparity(RED). On the other hand, The inter-region model and the western region supports Amos' augmented inverted-U hypothesis in model of per capita income. In the urban-rural income economic disparity model, the inter-region model of AED and the central region of RED supports Amos' augmented inverted-U hypothesis. But the Williamson's inverted-U hypothesis was supported in the inter-region model and the western region in RED.

• Journal of Korean Society for Quality Management
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• v.46 no.3
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• pp.551-568
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• 2018

Purpose: This study addressed the relationship between technological innovation activity and management efficiency of Korean automobile firms. We tested the hypothesis of non-liner relationship of innovation activity in relation to management efficiency. Methods: We discussed prior literature in the firm innovation strategy and management efficiency studies to provide better understanding of relationships between technological innovation activity and management efficiency. As a result, we developed develop and tested a model (Inverted-U shaped) capturing the non-linear impact of technological innovation activity. While we used R&D expenditure and patent registration data for measuring firms' innovation activity, management efficiency was evaluated by using DEA(Data Envelopment Analysis). Results: Main findings of our empirical analysis indicated that the relationships between technological innovation activity and management efficiency was inverted U shaped. This implied that the relationship between technological innovation and management efficiency is inverted U-shaped non-linear, with management efficiency increasing up to a point, beyond which higher levels of R&D and patent registration activities led to a decrease in management efficiency. Conclusion: This study empirically assessed the inconclusive findings of previous research in the area of effects of innovation activities in relation to firm performance. The paper also provided theoretical and practical implications for firms who explore efficient strategy to promote the management performance through technological innovation activities. Future research directions with the limitation of the study was discussed.

• Environmental and Resource Economics Review
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• v.11 no.3
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• pp.377-396
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• 2002

This paper investigates whether an inverted U relationship between pollution and economic development could be found in the Seoul metropolitan region using a panel data for the period of 1985~1999. We uses a model with a more flexible random coefficients specification which allows for a greater degree of regional heterogeneity. The emissions of sulfur dioxidetotal($SO_2$), suspended particulates(TSP), nitrogen dioxide($NO_2$), and carbon monoxide(CO) were selected as four major pollutants. We found that the emissions of these pollutants per capita except sulfur dioxidetotal exhibited inverted U shapes with per capita gross regional domestic product (GRDP). We also noted that the turning points for Seoul metropolitan region occured at a range of incomes, from $3,000 to $5,000 per capita.

• New & Renewable Energy
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• v.16 no.3
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• pp.13-26
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• 2020

This study analyzed whether the diffusion of new and renewable energy contributed to mitigating emissions of various air pollutants, including particulate matter, using panel econometric models. The theoretical foundation of such econometric models is based on the Environmental Kuznets Curve (EKC) hypothesis, which assumes an inverted U-shaped relation between national income and environmental pollution, as originally proposed by Grossman and Krueger. We examined whether there are inverted U-, U-shaped, or N-shaped relations between national income and air pollution. We demonstrate that increases in new and renewable energy significantly mitigated emissions of CO, NO_X, and PM2.5. Additionally, we included NO_X, SO_X, PM10, and VOCs as secondary emission sources of PM2.5 and found that emission of PM10 resulted in the highest PM2.5 emissions, followed by NO_X and SO_X emissions. The impact of new and renewable energy on air pollution varied across regions. Increase of new and renewable energy in the Honam region significantly mitigated CO, NO_X, and TSP emissions, while that in the Youngnam and metropolitan areas did not significantly mitigate air pollution overall. There was a U-shaped relationship between air pollution and national income for CO, NO_X, PM2.5, and SO_X, while an inverted N-shape was observed for PM10.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.5
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• pp.295-303
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• 2022

This study investigates the impact of globalization, coal consumption, and economic growth on CO₂ emissions in Malaysia by applying the Kuznets Environmental Curve model. The study employed the Autoregressive Distributed Lag modeling technique on time series data over the period of 1970-2018 to determine the short and long-run relationship between CO₂ emissions and a number of variables, including globalization, coal consumption, and economic growth. The results show that globalization increase CO₂ emissions in both the short and long run in Malaysia. Furthermore, the results reveal that economic growth and coal consumption degrade the environmental quality by accelerating the CO₂ emissions in the short-run and long run. As a result, the findings validate the Kuznets Environmental Curve hypothesis of an inverted U-shaped relationship between economic growth and CO₂ emissions in the long run for Malaysia. The findings of this study suggest that higher globalization levels and usage of coal consumption degrade the environmental quality in Malaysia. The findings also indicate the effect of economic growth on environmental degradation is positive at the initial stage but improves after the economy achieves a threshold level of income per capita in the economic development process with an inverted U-shaped pattern in the long run.

• International Area Studies Review
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• v.20 no.3
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• pp.45-80
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• 2016

This paper examined, using three indicators, urban area rate, urbanization rate and urban population density upon the status of urbanization since the 2000s in Southeast Asia. This study also carried out an empirical analysis on the effects of urbanization on economic growth using the Williamson's inverted U-shape hypothesis. In addition, this study calculated the thresholds by which urbanization starts to have positive effects on economic growth by using estimated coefficients, and comparatively analyzed each Southeast Asian country's status. The empirical analysis results opposite to the Williamson's hypothesis. This means that the hypothesis asserting that urbanization has positive effects on economic growth in a country with low economic development phase and income level, but that urbanization can have negative effects on economic growth, if a country's income level is beyond a certain level(threshold), is not supported in this study. In summary, the economies of agglomeration represented as localization economy and urbanization economy is realized to some degree in terms of urbanization in Southeast Asia. Also, urbanization in Southeast Asia has positive effects on economic growth through knowledge spillover, the active exchange of ideas and productivity improvement. In examining the meaning of Southeast Asia's urbanization, policy consideration needs to be conducted, and efforts should be made to maximize the positive effects of the economies of agglomeration and knowledge spillover on economic growth.

• Environmental and Resource Economics Review
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• v.16 no.3
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• pp.643-651
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• 2007

The Environmental Kuznets Curve Hypothesis postulates an inverted-U shaped relationship between GDP per capita and various pollutants. Pollutants emission increases up to a certain level as income goes up; after that, it decreases. This paper investigates the relationship between industry pollutants taking industrial sulfur dioxide omission as example, and economic growth by using province-panel data set from 1989 to 2004 in 28 provinces of P. R. China. The result shows that the EKC hypothesis may be supported in the case of industrial sulfur dioxide, and the GDP per capital of turning point is about RMB 13,548 (at 1978 price). Except Shanghai, all the provinces GDP per capital in this study are less than RMB 13,548, indicating the amount of industrial sulfur dioxide emission will be increasing in the near future. To realize sustainable development and pollutants abatement, the central and local government should adopt an integrated strategy to protect environment.

• Environmental and Resource Economics Review
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• v.23 no.4
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• pp.667-688
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• 2014

This research tested the EKC (Environment Kuznets Curve) Hypothesis using the $CO_2$ Emissions by region and GRDP. We built the panel data set on the 15 local government region from 1990 to 2010 for this analysis. GRDP, population and total factor productivity was considered as the factors influencing on the regional $CO_2$ Emissions. Analysis method in this research is panel GLS model as Lantz and Feng (2006). The results show that the EKC hypothesis did not hold in Korea but there is inverted U relationship between the $CO_2$ Emissions and total factor productivity. As the total factor productivity grows, the $CO_2$ increased but decreased after a certain level.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.8
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• pp.1-13
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• 2020

This study examines the effect of managerial ownership on firm value in capital markets where outside governance mechanisms to discipline managers are weak or non-existent. We hypothesize that strong market forces in the U.S. confound the effect of managerial ownership on firm value, i.e., the convergence of interest argument. We test the hypothesis using data from 112 firms from Singapore Stock Exchange and 205 firms from the Stock Exchange of Thailand prior to the Asian financial crisis in 1997 when the market forces were weak, yet the investor protection was sufficient to prevent outright appropriation from management. For ease of comparison, we use methodologies from studies done on the U.S. sample firms during the same study period as ours. We find that, both in Singapore and Thailand, firm value is a function of managerial ownership, and the relation is of the famous inverted U-shaped. Moreover, the relation is robust under different model specifications. The results from Thai sample, with weaker market forces than in Singapore, lend support to many agency cost hypotheses advanced in the U.S. Our results provide useful implication for investors in emerging and frontier markets where outside governance mechanisms are yet to be fully developed.

• Journal of Wellbeing Management and Applied Psychology
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• v.2 no.2
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• pp.19-37
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• 2019

Over the last few decades, the atmospheric carbon dioxide emission has been amplified to a great extent in Turkey. This amplification may cause global warming, climate change and environmental degradation in Turkey. Consequently, ecological condition and human life may suffer in the near future from these indicated threats. Therefore, an attempt was made to test the relationship among a number of expected factors and carbon dioxide emissions in the case of Turkey. The study covers the time series data over the period of 1970-2017. We employed the modern econometric techniques such as Johansen co-integration, ARDL bound testing approach and the block exogeneity. The results of the Johansen co-integration test show that there is a significant long-run relationship between carbon dioxide emissions and expected factors. The long-run elasticities of the ARDL model show that a 1% increase in the GDP per capita, electric consumption, fiscal development and trade openness will increase carbon dioxide emissions by 0.14, 0.52, 0.09 and 0.20% respectively. Further, our findings reveal that the environmental Kuznets curve (EKC) hypothesis and inverted U-shaped relationship between carbon dioxide emission and economic growth prevails. Therefore, the EKC hypothesis is valid and prevailing in the Turkish economy. The diagnostic test results show that the parameters of the ARDL model are credible, sTable and reliable in the current form. Finally, Block exogeneity analysis displays that all the expected factors are contributing significantly to carbon dioxide emissions in the Turkish economy.