• 한국인구학
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• 제14권1호
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• pp.1-25
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• 1991

The Purpose of this study is to analyze the contribution of the total human capital formation to economic growth in Korea. In order to assess the contribution of the total human capital formation to economic growth, aggregate production functions are estimated using two ways of ordinary least squares and polynomial distributed lags based on 1955 - 1988 time series data in Korea. The total amount of investment in human capital is calculated by adding each amount of investment in formal education, vocational training, inter-provincial migration, and health in pecuniary terms. The findings of this study could be summarized as follows ; (1) If we enumerate the variables in good order according to the importance, we get the following ; namely, total number of labor force, inter-provincial migration, vocational training, health, physical capital, and formal education. (2) The contribution of the human capital to economic growth is much more larger than that of physical capital. In particular, it appears that inter-provincial migration and vocational training make a great contribution to economic growth. (3) It appears that investment in formal education has a continuous effect for fifteen years and maximum effect is observed approximately eight years later. In the case of vocational training, the effect of investment lasts for about 12-14 years and its effect on economic growth reaches maximum with the passage of seven to eight years after initial investment. (4) Investment in vocational training contributes more in the long run compared with investment in formal education. The effect of investment in formal education lasts longer than that of vocational training, while the effect of investment in vocational training is considerably larger in the short run compared with the investment in formal education.

• 산경연구논집
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• 제10권11호
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• pp.15-23
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• 2019

Purpose: Global economic integration has provided good opportunities and conditions for the development of foreign direct investment in Finances. Therefore, this paper attempts to explore what determines foreign direct investment in Finances of Organization for Economic Co-operation and Development (OECD) countries. Research design, data and methodology: This paper employs the panel data over the period 2005-2017 and uses the random effect model to estimate this proposition. Results: The results indicate that the foreign direct investment in services, growth rate of GDP, interest rate and saving are positively related with foreign direct investment in finances. Conversely, the growth rate of wage and fluctuation rate of exchange rate are negatively related with foreign direct investment in finances. Moreover, the results verify that the effect of these variables on foreign direct investment in finances is different before and after 2008 (global economic crisis). In addition, the results also manifest that the regional effect exists. Namely, the effect of these variables on foreign direct investment in finances between G7 countries and G20 countries exist significant difference. Conclusions: Those variables used in this paper are related with foreign direct investment in Finances of (OECD) countries.

• 한국철도학회:학술대회논문집
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• 한국철도학회 2008년도 추계학술대회 논문집
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• pp.112-116
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• 2008

Determining the investment priority of the railway project is essential to keep its object of railway investment. [National railway construction plan] provide 4 major evaluation indicators and their weighting range in determining the investment priority of railway construction. Which are investment efficiency, inter-regional balance of development, network effects, government supporting policy. However this present criteria has inconsistency in determining economical feasibility of the railway transportation when applying the same evaluation indicator, investment efficiency, with the road transportation. The railway transportation is superior to road transportation in terms of transportation capacity and distance, while offering less carbon emissions. In spite of the prominent position of the railway transportation, it can be failed to obtain its proper investment priority when being determined under economical feasibility based. Therefore, this study analyzed the inconsistency under present evaluation criteria and proposed new evaluation method for the investment priority of the railway construction using AHP(analytic hierarchy process), while differentiate from the road construction. This method is optimized for only determining the priority of the railway construction itself under object of railway investment respectively.

• International journal of advanced smart convergence
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• 제8권2호
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• pp.102-108
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• 2019

Big data was associated with three key concepts, volume, variety, and velocity. Securities and investment services produce and store a large data of text/numbers. They have also the most data per company on the average in the US. Gartner found that the demand for big data in finance was 25%, which was the highest. Therefore securities and investment companies produce the largest data such as text/numbers, and have the highest demand. And insurance companies and credit card companies are using big data more actively than banking companies in Korea. Researches on the use of big data in securities and investment companies have been found to be insignificant. We surveyed 22 major securities and investment companies in Korea for activating big data. We can see they actively use AI for investment recommend. As for big data of securities and investment companies, we studied open API. Of the major 22 securities and investment companies, only six securities and investment companies are offering open APIs. The user OS is 100% Windows, and the language used is mainly VB, C#, MFC, and Excel provided by Windows. There is a difficulty in real-time analysis and decision making since developers cannot receive data directly using Hadoop, the big data platform. Development manuals are mainly provided on the Web, and only three companies provide as files. The development documentation for the file format is more convenient than web type. In order to activate big data in the securities and investment fields, we found that they should support Linux, and Java, Python, easy-to-view development manuals, videos such as YouTube.

• 아태비즈니스연구
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• 제12권2호
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• pp.1-24
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• 2021

Purpose - We aim to verify whether CSM activities increase investment efficiency, and to verify whether the influence of CSM activities on investment efficiency is discriminatory depending on whether or not they belong to chaebol. Design/methodology/approach - Using 4,701 Korean firm-year observations over the 2011-2017 period, we used multiple regression analysis. CSM is measured by the evaluation score of the Korea Corporate Governance Service (KCGS). Findings - Our study confirms that CSM is a significantly positive relationship with investment efficiency. This shows that, as a result of CSM, the increased earnings quality acts as an incentive to increase investment efficiency. Next, in analysis of a dataset into two groups (a chaebol, non-chaebol), the results show that the relationship between CSM and investment efficiency differs among detailed indicator activities depending on whether or not they belong to chaebol. Research implications or Originality - It is significant that this study focused on and analyzed CSM as a determinant of investment efficiency, and examined the effects of whether or not it belongs to chaebol in the relationship between CSM and investment efficiency. Our results, which suggested that CSM can increase investment efficiency, are expected to provide important implications not only for managers but also for investors and supervisors.

• The Journal of Asian Finance, Economics and Business
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• 제9권9호
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• pp.25-37
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• 2022

Investment decisions are one of the most fundamental issues in financial management. This study aims to determine the factors that affect investment decisions in the energy industry and to contribute to the companies in this industry to develop strategic policies. The System GMM analyzes were carried out using the data of companies registered on the stock exchange for the period 2000-2015. The findings showed that industrial competition and firm size were important factors influencing the investment decisions of firms in the energy industry. The findings indicated a nonlinear relationship between industrial competition and the rate of investment in the energy sector. Depending on the firm's size, the effect of industrial competitiveness on investment varies. Smaller businesses are more impacted by the level of competition than larger ones. The investment rate decreases depending on the increase in cash holding level and firm risk. When the subgroups in the energy industry are examined, it is determined that they reveal some differences in terms of financial structure. A higher investment rate results from a higher retained earnings ratio. The investment rate of firms falls as a company's risk level and sales revenue variability increase.

• 통상정보연구
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• 제11권4호
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• pp.347-372
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• 2009

International investment has been gaining the importance in the economic growth, employment and technological spillover for many countries at the time of unrestrained flow of the production resources, inter alia, the capital. International investment is prerequisite for Korea to overcome its resource-scarcity. This paper studied some contentious issues of international investment and attempted to suggest negotiating position for Korea on future FTAs. We have made theoretical research of the issues and derived common denominators from four previous FTAs which Korea has concluded. Based on both theories and evidences, we suggest that Korea be ready to have more open attitude for incoming international investment, that is, foreign direct investment(FDI) in future FTA negotiations although Korea should have rather flexible strategy on international investment issues, on the basis of the reciprocity.

• 지식경영연구
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• 제12권4호
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• pp.41-54
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• 2011

Given the prevalence of home trading systems, it has become important to examine user behaviors in a stock investment environment. In this vein, this paper developed an integrated model to deeply understand the key determinants of user's continuance intention to use investment information through constructs prescribed by incorporating trust and perceived risk into expectation-confirmation model. The proposed research model was tested by using survey data collected from 160 users who have experience with stock investment. PLS (partial least squares) was employed for the analysis of the data. The findings of this study showed that the proposed framework provides a statistically significant explanation of the variation in continuance intention to search investment information. The findings revealed that trust and perceived risk are more prevalent predictors of continuance intention to use investment information compared to perceived usefulness. It was also found that user satisfaction serves as the salient antecedents of continuance intention to use investment information. The theoretical and practical implications of the findings were described.

• 한국IT서비스학회지
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• 제18권5호
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• pp.155-164
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• 2019

With the emergence of new ICT technologies, information security threats are becoming more advanced, intelligent, and diverse. Even though the awareness of the importance of information security increases, the information security budget is not enough because of the lack of effectiveness measurement of the information security investment. Therefore, it is necessary to optimize the information security investment in each business environment to minimize the cost of operating the information security countermeasures and mitigate the damages occurred from the information security breaches. In this paper, using genetic algorithms we propose an investment optimization model for information security countermeasures with the limited budget. The optimal information security countermeasures were derived based on the actual information security investment status of SMEs. The optimal solution supports the decision on the appropriate investment level for each information security countermeasures.

• 재무관리논총
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• 제2권1호
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• pp.189-214
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• 1995

We examine the existence of the investment signaling equilibrium without assuming a specific utility function for the managers of the corporations. We assume the managers have the initial holdings of their own corporations as a form of the executive compensation. Under the different financing schemes to finance the investment, the new equity financing and the risky debt financing, we derive the investment signaling equilibrium and compare the the investment signaling equilibrium under each financing scheme. We show that the investment signaling equilibrium with each financing will obtain with the underinvestment of the high quality firm and that the investment signaling equilibrium with the risky debt financing will dominate the investment signaling equilibrium with the new equity financing.