• 국제지역연구
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• 제12권3호
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• pp.195-216
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• 2008

해외 주요 주식시장을 대상으로 하는 연구에서 단기적으로는 모멘텀 현상이 관찰되고 장기적으로는 반전현상이 관찰되고 있다. 그러나 한국 시장의 경우에는 장단기에 모두 반전현상이 있는 것으로 조사되고 있다. 본 연구에서는 한국 주식시장을 대상을 모멘텀과 반전현상의 관측 여부를 다시 확인하고 외국인투자자와 개인투자자의 투자행태와의 관련성을 분석한다. 그 결과 한국 시장에서는 기존연구와 같이 모멘텀 현상이 없다는 것이 확인되었다. 그러나 외국인투자자들을 대상으로 분석한 결과 외국인투자자들은 국내외에서 일관적으로 단기에는 모멘텀, 장기에는 반전투자전략을 쓰고 있는 것으로 나타났다. 한국에서 모멘텀 현상이 관찰되지 않는 것은 단기에도 반전투자전략을 사용하는 개인투자자들 때문인 것으로 추정된다.

• 한국의류학회지
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• 제34권2호
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• pp.280-290
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• 2010

This study identifies the antecedents of trust in the examination of the effects of the antecedents of trust on trust in apparel manufacturer-contractor relationships. A total of 92 apparel manufactures participated in this study. A factor analysis, Cronbach's alpha coefficient, and multiple regression analysis were conducted for the statistical analysis. Five antecedents of trust were classified: flexibility, opportunistic behavior, communication, specific investment, reputation. Two factors of trust were identified: credibility and benevolence. Flexibility, communication, and reputation of a contractor positively influenced the credibility of an apparel manufacture in a contractor. Flexibility, communication, and specific investment of a contractor positively relate to the benevolence of an apparel manufacture in a contractor. However, the opportunistic behavior of a contractor did not relate to either the credibility of an apparel manufacture or the benevolence in a contractor. The results of this study provide empirical evidence of the impact of flexibility, communication, specific investment, reputation on trust in apparel manufacturer-contractor relationships, and additional insight for selecting contractors that seek to improve trust in apparel manufacturer-contractor relationships.

• 전자통신동향분석
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• 제16권5호통권71호
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• pp.167-178
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• 2001

코스닥 및 나스닥 시장의 붕괴로 인한 벤처투자 시장의 급냉이 벤처기업뿐만 아니라 벤처캐피탈업계에도 커다란 악영향을 주고 있다. 벤처투자 시장의 실패와 성공의 엇갈린 결과들이 속출되고 있는 가운데, 벤처기업에 대한 국내 벤처캐피탈의 투자동향, 투자특성 및 향후 IT 투자방향을 분석해 봄으로써 IT 벤처기업 육성을 위한 벤처캐피탈들의 나아가야 할 방향 및 시사점을 제시하고자 한다.

• 한국생활과학회지
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• 제11권1호
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• pp.31-43
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• 2002

The purpose of this study was to examine the financial status of the small business households, and to analyze their investment behaviors according to socio-economic variables like age, income, education, job satisfaction, and region. The size of total sample was 2167 with basis of data analysis of Korean Household Panel Study from Daewoo Economic Research Center. Descriptive Statistics were used to analyze their financial status according to the socio-economic variables. The results showed that small business family's financial status was differentiated according to age, income, job satisfaction, and region. Households' investment on the primary financial institute such as bank was differentiated by income, level of education, and job satisfaction. The amount of investment on secondary financial institute such as mutual fund was differentiated by income, age, and region. The households' investment for insurance was affected by all socio-economic variables except region and not significantly different according to socio-economic variables for stock and bonds. The amount of net-asset for households was affected by the level of education, age, and income and the amount of debt most by age and income. The results of this study was useful to develop the estimation tool for the small business households credit and also provides the basic informations for the financial assistance of those households.

• The Journal of Asian Finance, Economics and Business
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• 제8권12호
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• pp.129-139
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• 2021

The aim of this study is to provide insight into tax avoidance through planning and management, and its investment consequences in financially constrained and unconstrained firms, as well as to empirically examine the interrelationships between the variables studied. Data was extracted from the financial statement analysis of non-financial companies listed on the Pakistan stock exchange (PSX) published by the State Bank of Pakistan, covering ten major manufacturing sectors. KZ index and WW index are used to identify financially constrained and unconstrained firms. Tax avoidance is measured by using GETR and LETR. All the equations are estimated through panel data regression models using common, fixed, and random effects. The empirical investigation of the role of tax avoidance in all firms collectively and constrained and unconstrained firms separately showed that the tax avoidance behavior of these firms is translated into investments by these firms. The study will help policymakers in strategy formulation and implementation related to tax planning and investment decisions in constrained and unconstrained firms to overcome their financial constraints and to optimize their investment decisions for value maximization. This will substantially increase the investment in the country by providing growth opportunities and lowering the tax rates.

• 노동경제논집
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• 제44권1호
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• pp.169-204
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• 2021

본 연구는 한국교육고용패널 자료를 이용하여 대학입학전형별로 서로 다른 교육투자행태를 보이는지 확인해보았다. 분석 결과, 수시전형으로 대학에 입학한 학생들의 연평균 사교육비와 일주일 평균 혼자서 공부한 시간이 정시전형으로 대학에 입학한 학생들보다 낮았고, TV 시청, 컴퓨터 이용 등과 같은 여가시간과 수면시간이 더 긴 것으로 나타났다. 이러한 결과는 대학입학 제도가 교육투자의 양태를 바꿀 가능성을 보여주며, 나아가 필요한 인적자본투자를 효율적으로 이루어지도록 유도할 가능성도 있음을 보여준다.

• 지역연구
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• 제36권1호
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• pp.37-50
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• 2020

이 연구는 투자이론에서 활용되고 있는 토빈의 Q 개념을 적용하여 투자이익을 측정하고 이를 통해 서울 주택시장을 이해하고자 한다. 구체적으로 서울시 아파트와 연립·다세대주택을 대상으로 2010년부터 2018년까지 투자이익을 추정하고 공간계량모형을 이용하여 투자이익에 영향을 주는 요인들을 살펴보았다. 투자이익은 실거래가격에서 대체비용(토지비용+건축비용)을 빼는 방식과 실거래가격 대비 대체비용의 비율로 각각 추정하였다. 분석결과를 보면, 투자이익은 2018년으로 갈수록 더 커졌고 강남·서초구 및 한강 주변에서 투자이익이 높게 나타났으나 투자이익의 시공간적 변화양상은 아파트의 경우 뚜렷한 반면에 연립·다세대주택은 산발적·국지적으로 나타났다. 공간계량모형 분석결과는 주택유형과 상관없이 고밀·신축개발이 많은 지역에서 투자이익이 높았다. 이 연구의 접근방법과 결과는 향후 주택 공급 정책, 투자이익 환수, 지역 경쟁력 측정, 가격 거품 측정 등에 대한 논의를 위한 기초 자료가 될 것이다.

• 통상정보연구
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• 제7권4호
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• pp.387-407
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• 2005

This paper is to study globalization motives and strategies of Japanese and Korean industries by analyzing the causes and patterns of foreign direct investment (FDI) of the firms of the two countries during the 1980s and 1990s. First we develop a FDI function from the profit maximizing model of firms. Then we use regression analysis to determine internally driving-out factors and externally-inducing factors. Japanese FDI strategy has gone through three different stages; from natural resource-seeking investment in the 1950s and 1960s to market-expansion investment in the 1970s and 1980s and to a combination of cost-reducing (low-cost labor-seeking) investment and market-penetrating investment in the 1990s. On the other hand, Korean FDI behavior has gone through four different stages; from the learning stage with small investments in the 1970s, to natural resource-seeking investment in the early and mid 1980s, to the growth stage in the late 1980s and the early 1990s, to the maturity stage of the mid and late 1990s. The last two stages were characterized by a combination of cost-reducing investment and market-seeking investment. As a late comer, Korea began its FDI two decades later than Japan, but caught up the patterns of Japanese FDI by the mid 1990s and is in a competing position with Japan. Our findings show that both Japanese FDI and Korean FDI in Asia and other developing countries tendto be in labor-intensive sectors where their firms are losing their comparative advantages at home. The main motive for FDI into these regions is low-cost resource seeking. On the other hand, both Japanese FDI and Korean FDI in the U.S. and Europe tend to be knowledge-intensive sectors where Japanese and Korean firms attempt to internalize transaction and information costs by globalizing its production. The main motive for FDI into these regions is market-seeking. Firms in both countries have increased their investments in Mexico and Western and Eastern Europe in order to penetrate large economic blocs such as the EU and NAFTA area. Korean firms are more aggressive in expanding into new and untested markets than are their counterpart in Japan. Evidence of this can be seen in the scarcity of Japanese FDI and abundance of Korean FDI in Eastern Europe and China.

• 경영과정보연구
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• 제26권
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• pp.117-132
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• 2008

This study examined the individual investors' Behavior and proposed the research task how significant difference within and among investor's personality types. First of all, we investigated factors that influence individual investor's investment behavior, such as, openness, will to achieve, self-monitoring. As result investors who have lately five number of holding stock are more dependent on openness and will to achieve.

• 한국경영과학회:학술대회논문집
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• 한국경영과학회 2008년도 추계학술대회 및 정기총회
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• pp.520-524
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• 2008

This research verifies the phenomenon of which the Momentum and Reversal effect of stock price would depend on the subject of investment in the point of view of the Behavior Finance hypothesis. For the experiment, this paper uses the KOSPI200 daily data and Net Investment Flow from Jan. 1999 to Dec. 2006. And we analyze the marginal profit and loss with foreigners, individual investors, and institutions. We verify the response of the subjects of investment based on the CAR for 3 days after more than 3 percent rising or drop. We also verify the response with respect to the ascending and descending trend based on the profit trend and subjects' behaviors a week before the drop.