• Journal of the Korean Operations Research and Management Science Society
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• v.34 no.2
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• pp.91-100
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• 2009

"How does advertising affect sales?" is the fundamental issue of modern advertising research. There is an interesting issue for estimating carryover effects of advertising on sales, and the aggregated data biases exist in the duration of advertising effect. This research suggests an extended model of Koyck Model which is employed for micro-data (Koyck 1954) to estimate aggregated advertising data, and empirically shows the aggregated data bias. Our developed model with the aggregated level of actual advertising data is more appropriate than the basic Koyck model for micro-data. The result figures out that it is important to consider the disaggregated data level in the analysis of dynamic effects of adverting such as carryover effects.

• Proceedings of the Korean Operations and Management Science Society Conference
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• 2008.10a
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• pp.319-323
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• 2008

"How does advertising affect sales?" is the fundamental issue of modern advertising research. There is an interesting issue for estimating carry over effects of advertising on sales, and the aggregated data biases exist in the duration of advertising effect. This research suggests a modified model at micro-data using Koyck model (Koyck 1954) by estimated model the aggregate data, and empirically shows the aggregated data bias. Our modified model with the aggregated level of actual data is more appropriate than the base model for micro-data. The result shows that it is very important to consider the disaggregated data level in the analysis of dynamic effects of adverting such as lagged effects.

• Journal of Energy Engineering
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• v.24 no.2
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• pp.167-173
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• 2015

This paper attempts to estimate the electricity demand function in Korea with quarterly data of average temperature, GDP and electricity price over the period 2005-2013. We apply lagged dependent variable model and ordinary least square method as a robust approach to estimating the parameters of the electricity demand function. The results show that short-run price and income elasticities of the electricity demand are estimated to be -0.569 and 0.631, respectively. They are statistically significant at the 1% level. Moreover, long-run income and price elasticities are estimated to be 1.589 and -1.433, respectively Both of results reveal that the demand for electricity is price- and income-elastic in the long-run. The relationship between electricity consumption and temperature is supported by many of references as a U-shaped relationship, and the base temperature of electricity demand is about $15.2^{\circ}C$. It is shown that power of explanation and goodness-of-fit statistics are improved in the use of the lagged dependent variable model rather than conventional model.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.11 no.6
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• pp.111-122
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• 2016

Support and efforts are being strengthened at the national level for entrepreneurial activities that are expected to revitalize our economy. Generally, according to the previous studies, it is known that entrepreneurship positively affects economic growth and the reduction of unemployment rate through employment creation. The analysis of the impact of entrepreneurial activities on economic growth and job creation is mainly based on national comparative analysis. In this paper, however, the impact of start-up activities in the Busan metropolitan city on regional economic growth and employment improvement. In this study, the dummy variables were assigned to firms within three years, five years, and ten years after start-up according to the period since the start-up of the firm. As a result of the empirical analysis, the value of dummy variable of the start - up firms was found to be significant in the analysis of the sales growth rate as the dependent variable according to the preceding study by Evans(1987). Therefore, it can be seen that the growth rate of the start - up company is higher than that of the other companies and it is positive for the regional economic growth. In addition, the coefficient of the dummy variable decreases from the enterprise analysis to the latter within three years, five years, and ten years after the start-up, and confirms that the coefficient of the firm's start-up years has a negative value. I could see more clearly. On the other hand, in the analysis of the effect of start-up firms on unemployment rate reduction, the growth rate of regular workers was higher than that of other firms. This suggests that it positively affects the reduction of the unemployment rate in the region. In addition, in the dynamic analysis using the Almon estimation formula and the Koyck model, the effect of log-transformed net start-up firms on the growth rate of new workers is very significant. As a result of the above model, It is reaffirmed that start-up activity has a positive effect on employment growth.