• 무역학회지
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• 제44권3호
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• pp.1-14
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• 2019

We compared and analyzed the effects of establishing multilateral FTA and bilateral FTA on the R&D investment of exporting firms when they compete in Cournot fashion and when the government of the importing country acts strategically. In the short run, we found that the importing country prefers to enter into a bilateral FTA with each exporting country separately for maximizing its welfare. However, we also found that, in the long run, it is more welfare-enhancing policy for importing country that entering into a multilateral FTA with all of the exporting countries simultaneously because it helps facilitate the R&D investment of exporting firms. But once entering into a multilateral FTA, the exporting firms would be faced with more intensive R&D investment competition and hence they would suffer severe welfare loss.

• 디지털융복합연구
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• 제17권6호
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• pp.133-144
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• 2019

본 연구의 목적은 신기술 투자가 ICT 법 제도와 정부조직 조직성과에 어떠한 영향력을 보이는지 실증연구를 하는 것이다. 연구에서는 정부조직의 ICT 투자 관심, 역량, 융합, 프로세스 변화의 영향력을 살펴보고, 정책 방향성을 제시하고자 한다. 본 연구 방법은 구조방정식을 사용하였다. 분석결과, ICT 투자 관심과 운영 역량은 ICT 법 제도에 부정적 영향을 보였고, ICT 프로세스 역할 변경과 신기술 융합은 ICT 법 제도에 긍정적 영향을 보였다. 그리고 국가정보화 기본법은 조직성과에 긍정적 영향을 보였지만, 전자정부법은 부정적 영향을 보였다. 본 연구의 시사점은 조직 연구를 경영정보 관점으로 넓혔으며, 정책적 관점에서 정부조직별로 ICT 공동 추진과 법 제도의 중첩에 따른 상호 갈등 부분의 해소가 요구된다. 향후 연구는 이전부터 현재 정권까지의 ICT 역량에 대한 종단 연구가 필요하겠다.

• STI Policy Review
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• 제4권1호
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• pp.14-26
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• 2013

The $1^{st}$ National Plan for Aging Society with Low Fertility, which the Korean government announced in 2006, caused the gradual increase of R&D investment in order to prepare for an aging society in Korea. This study explores if the directions and strategies of R&D projects related to aging are suitable to improve the quality of life for elderly people and establish a sustainable aging society by analyzing the features of R&D investment from 2004 to 2010. The results show that most R&D projects conducted by departments focus on the development of assistive devices for the elderly to support everyday lives. The Korean government's R&D policy to prepare for an aging society is based on the narrow interpretation of Quality of Life (QoL) in an aging society that tries to resolve the socioeconomic problems of the elderly; however, the policies have ignored the independence of active elderly individuals and the social integration of the young and elderly generations. The research shows that a paradigm shift is required from a 'Senior' to 'Aging Society' because almost 1/3 of the Korean population is over 65 years old and the expansion of the research embraces from assistive technologies for the elderly to the design of social infrastructure such as transportation, education and work.

• The Journal of Asian Finance, Economics and Business
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• 제7권10호
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• pp.1-8
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• 2020

The objective of the study is to investigate the effect of growth opportunities on capital structure and dividend policy in Indonesia. The study employs panel data of companies listed on Indonesia Stock Exchange that distribute dividends from 2007 to 2017. Fixed and random effect regression models are used. Findings based on growth opportunities on capital structure and dividend policy in Indonesia are in line with the existing theory (i.e., contracting theory). Growth opportunities have a significant negative correlation with debt ratio and dividend yield, which suggests that firms with high growth opportunities are discouraged to generate debt to resolve underinvestment and asset-substitution problem. Firms with more investment opportunities tend to adopt a low dividend payout policy because the cash flows will be used up for investment. The positive impact of firm size on leverage is due to the low bankruptcy risk and cost of a large company. Profitability has a positive impact on the dividend policy because profitable companies can reserve larger free cash flows and, thus, pay higher dividends. The positive influence of ownership on leverage is interpreted by the unwillingness of majority stockholders to commit to equity financing in order to avoid reducing the ownership and preserve control of the company.

• 기술혁신연구
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• 제18권1호
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• pp.75-98
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• 2010

본 연구는 정부의 대표적인 상용화 기술혁신정책인 산업기술개발사업의 성과에 영향을 미치는 요인을 분석함으로써 관련 정책결정자에게 정책적인 시사점을 주는데 목적이 있다. 이를 위해 2003년부터 2007년간 종료된 산업기술개발사업을 대상으로 정부가 중요하게 고려하는 정책요인별로 가설을 형성하였다. 사업을 수행한 주관기관의 유형(대기업, 중소기업, 벤처기업, 연구소, 대학)에 따라 R&D성과에 차이가 있는지, 산학연간의 협력 개발이 단독 개발에 비해 R&D성과가 나은지, 과제 참여기관 수와 R&D성과의 관계, 과제 총금액의 크기와 R&D성과의 관계, 과제 총금액에서 차지하는 민간 총투자금의 비중과 R&D성과의 관계 등을 검증하고 있다. R&D성과는 산업기술개발사업의 제1차적 성과물인 특허등록건수와 논문게재건수로 측정하였다. 포아송 회귀분석 결과, 기업이나 연구소에 비해 대학이 특허 및 논문 차원의 R&D성과가 높은 것으로 나타났으며, 벤처기업의 특허 성과는 중소기업의 특허성과에 비해 높은 것으로 나타났다. 산학연의 협력개발은 단독개발에 비해 대체적으로 R&D성과가 높고, 과제 총금액이 클수록 R&D성과가 높으며, 민간 총 투자금의 비중이 높을수록 대체적으로 R&D성과가 높은 것으로 나타났다. 과제 참여기관의 수와 R&D성과간의 역U자형 관계 가설은 지지되지 않았다.

• The Journal of Asian Finance, Economics and Business
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• 제7권6호
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• pp.117-125
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• 2020

This paper aims to investigate FDI attractive factors, which are important to formulate policies to attract Korean direct investment into Vietnam. Based on the literature review and the results of interview with 27 Korean investors in Vietnam, we determined the model of variables attracting Korea's FDI into Vietnam. It is used to assess the impact of attractive factors belonging to three groups of variables to support investment decision; they are macroeconomics variables (including market size factor, labor cost factor, and market openness factor), policies variables (including monetary policy factor and tax rate gap factor), and microeconomics variables (geographic advantage factor representative by location). This research also utilized a relatively new quantitative research method based on the Autoregressive Distributed Lag model (ARDL) with the time data chain from 1995 to 2017 of Korean FDI into Vietnam. It analyzes long-term relationships between dependent variables and independent variables. The result of this study indicates that there are three positive factors (low wages, trade openness and government policy) explaining the FDI flows in the long term. The result also shows that incentive tax policy has had a positive impact on Korean FDI, which has satisfied the aim of seeking efficiency of Korean investors.

• Journal of Korea Trade
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• 제26권5호
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• pp.1-22
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• 2022

Purpose - This study aims to analyze the influence of South Korea's outward foreign direct investment (OFDI) under the effect of both multinational enterprises' (MNEs) investment motivation and host country institutions. Some suggestions are put forward with regard to South Korean MNEs participating in and integrating into the fierce and changeable world of international market competition. Design/methodology - The basic hypotheses are that MNEs' investment motivations and the host country's superior institutions both boost South Korea's OFDI in those host countries. South Korea's OFDI is divided into investment choice stage and investment scale stage. A Heckman two-stage selection model is established for empirical analysis, using the panel data of South Korea's OFDI and related variables, from 2002 to 2019. Findings - (1) The influence on the investment scale of South Korea's OFDI is more regular and noteworthy than the influence on investment choice. (2) In the investment scale stage, there are obvious motivations to seek markets, labor force and superior technology, but not natural resources. (3) In the investment scale stage, the South Korea's OFDI is more obviously attracted by the host country's superior political institutions, economic institutions and legal institutions, but not cultural institutions. Originality/value - The choices of variables and uses of model expand the theoretical basis and empirical method of OFDI research. The results of the empirical study also provide some reference for the transnational investment of South Korean MNEs and the investment policy formulation of the South Korean government.

• KDI Journal of Economic Policy
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• 제27권2호
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• pp.89-121
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• 2005

본고는 1991~2003년의 기간중 우리나라 상장 제조업의 기업별 자료를 이용하여 불확실성과 투자의 관계에 대한 부분적인 검증을 시도하였다. 실증분석 결과 외환위기 이후의 기간에서만 불확실성이 투자에 영향을 미친 것으로 나타났으며, 또한 외환위기 이후의 기간중에서도 재무건전성이 낮은 기업에서 불확실성의 영향이 강하게 추정되었다. 이러한 분석결과는 외환위기 이후 기업의 위험기피성향이 증가하였으며 기업경영이 보수화되어 왔음을 시사하고 있다. 한편 외환위기 이전에는 투자와 현금흐름 사이에 높은 상관관계가 추정된 데 비하여, 외환위기 이후에는 이러한 상관관계가 발견되지 않아 투자자금의 공급과 관련된 금융제약이 투자에 미치는 영향은 상대적으로 약화되었음을 의미하고 있다.

• Human Ecology Research
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• 제52권5호
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• pp.443-456
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• 2014

The purpose of this study was to explore the patterns of private education, investigate the characteristics of private education patterns, and analyze the differences in study habits and academic achievement of youth on the basis of private education patterns. In this study, we used the data from the 2012 Panel of the Korea Children and Youth Panel Study by the National Youth Policy Institute. The subjects of this study were ninth-grade students and their parents. The statistical methods used for the analysis were two-step clustering, Chi-squared test, analysis of variance, and multiple regression. The major findings were as follows: first, private education was classified into three patterns, namely financial investment, time investment, and reduction of investment; and four categories, namely; private education methodology, private education time, private education expenses, and number of youth with access to private education. Second, the statistically significant socio-demographic characteristics of private education patterns were parents' education, parents' job type, father's working hours, sex of children, housing form, and income. Third, the study found that financial investment and a reduce of investment led to better study habits and academic achievement than time investment and no investment. Fourth, private education and study habits showed statistically meaningful effects on academic achievement; in particular, study habits had strong effects on academic achievement. Based on the results, a variety of educational programs for the improvement of the study habits of the youth were suggested.

• Journal of Information Technology Applications and Management
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• 제20권4호
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• pp.67-81
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• 2013

Domestic telecommunication companies have increased in marketing expenditures and capital investments in their plants and equipments. Their expectation for their investment sometimes results in the shrinking of their ARPUs(average revenues per user) as well as decreasing of net profits. Those financial efforts have not always been positive relation with their ARPUs. Since western and european telecommunication industry recently have similar situation with our market where their mobile and network users have been saturated so that no more increased users are estimated. Therefore, this paper aims for first to explore methods maximizing the investments efficiency for the telecommunication company so that we choose bechmarked telecommmunication companies to explore their investment managing situation with resepct to their marketing and capital expenditure. Secondly this paper tried to suggest several public policy guidelines for domestic telecommunication industry. Total seventeen foreign telecommunication companies were selected and data set through official IR as well as AR were chosen. Curvilinear logarithmic regression analysis were tested to obtain elasticities as well as marginal effects. As a result, overspending on the marketing investment showed more negative indicators to their revenues, on the other hand, more investment in the Capex such as network infrastructures and other service facilities were more likely related to positive revenues.