• Journal of Korea Port Economic Association
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• v.37 no.3
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• pp.117-128
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• 2021

In order for the users (shipping firms and shippers) and suppliers (stevedoring firms) in the container terminal industry to win-win, it is necessary to have some appropriate diverse market conditions for the industry. This study analyses the basic conditions and demand and supply characteristics of the industry and investigates the market performance of Busan container ports. First, this article analyses the basic characteristics of demand and supply. As the demand characteristics, there are five ones such as 1) exogeneity of demand, 2) function as export/import transportation and hub for transshipment, 3) increase of users' bargaining power, 4) high substituting elasticity, 5) reduction of volume growth. As the supply characteristics, there are seven ones such as 1) inelasticity of supply, 2) homogeneity of stevedoring services, 3) over-supply, 4) adoption of cutting-edge stevedoring technology, 5) scale economy and impossibility of storage, 6) labor market rigidity, 7) enhancing port's role in SCM. In addition, this study conducts the so-called structure-conduct-performance analysis. For the structure analysis, 1) lacks of scale economy in stevedoring companies, 2) high entry barrier, 3) strengthening of shipping firms' bargaining power, 4) transitory permission scheme for tariff are analyzed. For the conduct analysis, 1) price discrimination between export/import and transshipment, 2) mid-term length of terminal use contract, 3) continuous investment in equipment, 4) low level of cooperation among terminal operating firms are derived. For the performance analysis, 1) inequality in profitability, 2) reduction of export/import cost, 3) delay in adopting cutting-edge technology, 4) idle equipment are analyzed. Following this logical flow, the hypothesis that the market structure influences the market conduct is tested based on the actual dataset. As a future agenda in the conclusion, this article recommends the so-called port industrial policy.

• KDI Journal of Economic Policy
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• v.13 no.4
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• pp.3-30
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• 1991

This paper examines Korea's exports of manufactures to the United States, Japan, and other OECD member countries in the 1974-89 period, focusing on the market share in the trade partners' imports. It decomposes the growth of exports into various effects, following the "constant-market-shares" analysis. For this purpose, the entire period is divided into three subperiods: 1974-78, 1978-83, and 1983-89. The paper also estimates a regression model of the market share determination, using the data of Korea's market share in U.S. imports. In the three subperiods under study, Korea's exports grew at different paces for varied reasons. The average annual growth rate was 28 %, 11 %, and 21 %, respectively. A large drop in the "competitiveness effect", that is, in the market-share growth rate, was mainly responsible for the decline in the export growth rate. The largest drop in the competitiveness effect was found in the light manufactures exports in the second period. The market share did not regain the rapid growth momentum. The main reason for the rise in export growth rate in the last subperiod was the "market-size effect"-a rise in the growth rate of the trade partners' imports. According to the regression results, high intensities in physical and human capital tended to lower the Korean manufacturing industries' market shares in the United States. This negative correlation was stronger in the case of human capital intensity, suggesting that Korea is relatively poorer in human capital endowment than in physical capital endowment when compared to the United States. This negative correlation between the market share and each of the two intensities became weaker overtime. This may be interpreted as the consequence of both physical and human capital accumulation which were faster than the labor force growth. Depreciation of the Japanese yen was estimated to have a negative influence on the Korean manufacturing industries' market share in the United States, and this negative influence became stronger each year in the 1980s. This seems to reflect the intensifying competition between the two countries' exports in U.S. import markets. The Heavy and Chemical Industry Policy of the 1970s, which promoted a number of selected industries by providing them with various incentives and inevitably discriminated against the rest of the industries, was estimated to have had strong negative effects on the export performance of the light manufacturing industries. This finding and the largest decline in the "competitiveness effect" -found in the light manufactures exports in the 1978-83 period-indicate that the Heavy and Chemical Industry Policy was mainly accountable for the drop in the export growth rate during the period. On the other hand, the rise in export growth rate during the subsequent subperiod was greatly impacted by the large scale exchange rate realignments of major currencies, especially by the appreciation of the Japanese yen, and other changes in international economic conditions.

• Proceedings of the Korean Society of Developmental Biology Conference
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• 2001.10a
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• pp.37-43
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• 2001

1. About fifty thousand of cattle embryos were transferred and 16000 ET-calves were born in 1999. Eighty percents of embryos were collected from Japanese Black beef donors and transferred to dairy Holstein heifers and cows. Since 1985, we have achieved in bovine in vitro fertilization using immature oocytes collected from ovaries of slaughterhouse. Now over 8000 embryos fertilized by Japanese Black bull, as Kitaguni 7~8 or Mitsufuku, famousbulls as high marbling score of progeny tests were sold to dairy farmers and transferred to their dairy cattle every year. 2. Embryo splitting for identical twins is demonstrated an useful tool to supply a bull for semen collection and a steer for beef performance test. According to the data of Dr. Hashiyada(2001), 296 pairs of split-half embryos were transferred to recipients and 98 gave births of 112 calves (23 pairs of identical twins and 66 singletons). 3. A blastomere-nuclear-transferred cloned calf was born in 1990 by a joint research with Drs. Tsunoda, National Institute of Animal Industry (NIAI) and Ushijima, Chiba Prefectural Farm Animal Center. The fruits of this technology were applied to the production of a calf from a cell of long-term-cultured inner cell mass (1988, Itoh et al, ZEN-NOH Central Research Institute for Feed and Livestock) and a cloned calf from three-successive-cloning (1997, Tsunoda et al.). According to the survey of MAFF of Japan, over 500 calves were born until this year and a glaf of them were already brought to the market for beef. 4. After the report of "Dolly", in February 1997, the first somatic cell clone female calves were born in July 1998 as the fruits of the joint research organized by Dr. Tsunoda in Kinki University (Kato et al, 2000). The male calves were born in August and September 1998 by the collaboration with NIAI and Kagoshima Prefecture. Then 244 calves, four pigs and a kid of goat were now born in 36 institutes of Japan. 5. Somatic cell cloning in farm animal production will bring us as effective reproductive method of elite-dairy- cows, super-cows and excellent bulls. The effect of making copy farm animal is also related to the reservation of genetic resources and re-creation of a male bull from a castrated steer of excellent marbling beef. Cloning of genetically modified animals is most promising to making pig organs transplant to people and providing protein drugs in milk of pig, goat and cattle. 6. Farm animal cloning is one of the most dreamful technologies of 21th century. It is necessary to develop this technology more efficient and stable as realistic technology of the farm animal production. We are making researches related to the best condition of donor cells for high productivity of cloning, genetic analysis of cloned animals, growth and performance abilities of clone cattle and pathological and genetical analysis of high rates of abortion and stillbirth of clone calves (about 30% of periparutum mortality). 7. It is requested in the report of Ministry of Health, labor and Welfare to make clear that carbon-copy cattle(somatic cell clone cattle) are safe and heathy for a commercial market since the somatic cell cloning is a completely new technology. Fattened beef steers (well-proved normal growth) and milking cows(shown a good fertility) are now provided for the assessment of food safety.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.5
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• pp.1-16
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• 2023

Due to imbalances in supply and demand within the labor market, start-ups have emerged as crucial players in the generation of high-quality employment opportunities, particularly in stagnant job markets. In response to this trend, governments are allocating substantial financial and human resources to initiatives that support start-up development. This has led to an increasing rate of engagement in start-up ventures across diverse age groups, not limited to younger individuals. Start-ups are enterprises focused on the commercialization of innovative ideas with the aim of achieving profitability in the marketplace. Research concerning the successful market integration of new products and the attainment of sustainable growth is pivotal. Such research is instrumental not only for the success of start-ups but also for realizing the broader social functions and contributions that these enterprises can offer. Previous research has often examined new product market-entry strategies, often referred to as new product marketing, particularly for large companies and SMEs. However, there is a gap in studies focusing on prototype marketing strategies specific to start-ups. Thus, this study aims to examine the impact of Pre-announcing marketing strategies on the market attention garnered by start-ups with low recognition and limited infrastructure, and how such attention contributes to their sustainable growth. Specifically, the study aims to uncover the causal relationship between information attributes like relevance, vividness, and novelty in building customer relationships, and their impact on purchase intentions influenced by performance expectations and hedonic motivations. In terms of Pre-announcing information attributes, relevance, vividness, and novelty positively influence performance expectations and hedonic motivations as outlined in the extended Unified Theory of Acceptance and Use of Technology (UTAUT2). These factors, in turn, positively impact the purchase intention for pre-announced new products from start-ups. These findings are expected to provide both theory and practical insights into the factors influencing market entry through the use of Pre-announcing marketing strategies for start-up new products.

• Journal of Distribution Science
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• v.13 no.3
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• pp.93-100
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• 2015

Purpose - Since the early 1990s, it has been observed that the number and substance of studies on female leadership have been increasing. One of the reasons for this development may be concerned with the increasing number of female labor market participants as well as the greater opportunities for them to take higher positions in various organizations. In addition to this, the transition from mechanistic organizational structures that emphasize authority, control, and efficiency toward organic ones that focus on environmental adaptability, equality, and trust has also encouraged research on female leadership. The research tendency is based on the assumption that male and female leaders tend to exhibit different leadership styles according to their gender differences. Recent research has cast doubt on this assumption, by showing that the sociological gender roles of men and women are independent such that some female leaders show authoritative and control-oriented leadership, which were once considered to be male leadership styles. Research design, data, and methodology - This research attempts to carry out an empirical study on the gender-related leadership styles of female leaders and to examine their effect on group performance in the K business organization. This study also focuses on leader attributes such as trust, and it aims to discover whether these attributes should be regarded as independent or as moderating variables between leadership styles and performance. For these purposes, this study generated four hypotheses based on a review of the literature and it tested them using a survey. Female workers in the sales departments of the K Company, all of whom are women, were asked to provide answers to the presented questionnaires. This study hypothesizes that the type of gender roles played by women leaders will affect the job satisfaction and organizational commitment among the members of the sales group, and that the level of trust that is garnered by women leaders will also affect the types of gender roles that they play as well as employee job satisfaction and organizational commitment. Results - The results of this study show that both androgynous and masculine leadership styles are superior to the feminine leadership style in terms of employee job satisfaction and organizational commitment. However, contrary to our expectations, this study fails to show the superiority of the androgynous leadership style over the masculine leadership style. Moreover, there are no significant differences between these two leadership styles with regard to group performance. Conclusions - This study shows that it is important that different attributes of leaders, such as how trusted they are, be treated as moderating variables between leadership and performance rather than as independent variables. Finally, as this is the first attempt to view the role of the gender in a new perspective, the managerial implications of this study for leadership research, as well as its limitations, are presented. Suggestions for future related research are also proposed.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.18 no.4
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• pp.614-623
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• 2017

The purpose of this study is to analyze the impact of the financial performance of regional public hospitals on their efficiency. In addition, the analysis of their efficiency using environmental factors, such as the market share, operating mode, and size of the regional public hospitals, as well as the factors influencing their efficiency, are selected by selecting the input and output factors of the hospitals and some differences were found between them. The DEA index and financial performance of the 31 regional public hospitals were calculated for the three years from 2012 to 2014. ANOVA and hierarchical regression analysis were used. As a result, there was a significant difference in their efficiency according to the environmental factors, such as the city scale of the regional public hospital, the number of hospital beds, and their business performance, productivity, and publicness. The medical profit margin (p<0.05), labor cost investment efficiency (p<0.05) and HHI (p<0.05) were found to affect the efficiency. In order to identify the inefficiencies of the regional public hospitals and increase their efficiency, it is necessary to measure the efficiency of the input resources and to reduce their cost. In addition, if the regional public hospitals were to provide specialized services, such as specialized functions of medical care that would give them a competitive advantage over private hospitals, their operational efficiency would be enhanced and they would be able to fulfill their role as public medical institutions.

• Journal of Intelligence and Information Systems
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• v.23 no.4
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• pp.127-146
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• 2017

Services using artificial intelligence have begun to emerge in daily life. Artificial intelligence is applied to products in consumer electronics and communications such as artificial intelligence refrigerators and speakers. In the financial sector, using Kensho's artificial intelligence technology, the process of the stock trading system in Goldman Sachs was improved. For example, two stock traders could handle the work of 600 stock traders and the analytical work for 15 people for 4weeks could be processed in 5 minutes. Especially, big data analysis through machine learning among artificial intelligence fields is actively applied throughout the financial industry. The stock market analysis and investment modeling through machine learning theory are also actively studied. The limits of linearity problem existing in financial time series studies are overcome by using machine learning theory such as artificial intelligence prediction model. The study of quantitative financial data based on the past stock market-related numerical data is widely performed using artificial intelligence to forecast future movements of stock price or indices. Various other studies have been conducted to predict the future direction of the market or the stock price of companies by learning based on a large amount of text data such as various news and comments related to the stock market. Investing on commodity asset, one of alternative assets, is usually used for enhancing the stability and safety of traditional stock and bond asset portfolio. There are relatively few researches on the investment model about commodity asset than mainstream assets like equity and bond. Recently machine learning techniques are widely applied on financial world, especially on stock and bond investment model and it makes better trading model on this field and makes the change on the whole financial area. In this study we made investment model using Support Vector Machine among the machine learning models. There are some researches on commodity asset focusing on the price prediction of the specific commodity but it is hard to find the researches about investment model of commodity as asset allocation using machine learning model. We propose a method of forecasting four major commodity indices, portfolio made of commodity futures, and individual commodity futures, using SVM model. The four major commodity indices are Goldman Sachs Commodity Index(GSCI), Dow Jones UBS Commodity Index(DJUI), Thomson Reuters/Core Commodity CRB Index(TRCI), and Rogers International Commodity Index(RI). We selected each two individual futures among three sectors as energy, agriculture, and metals that are actively traded on CME market and have enough liquidity. They are Crude Oil, Natural Gas, Corn, Wheat, Gold and Silver Futures. We made the equally weighted portfolio with six commodity futures for comparing with other commodity indices. We set the 19 macroeconomic indicators including stock market indices, exports & imports trade data, labor market data, and composite leading indicators as the input data of the model because commodity asset is very closely related with the macroeconomic activities. They are 14 US economic indicators, two Chinese economic indicators and two Korean economic indicators. Data period is from January 1990 to May 2017. We set the former 195 monthly data as training data and the latter 125 monthly data as test data. In this study, we verified that the performance of the equally weighted commodity futures portfolio rebalanced by the SVM model is better than that of other commodity indices. The prediction accuracy of the model for the commodity indices does not exceed 50% regardless of the SVM kernel function. On the other hand, the prediction accuracy of equally weighted commodity futures portfolio is 53%. The prediction accuracy of the individual commodity futures model is better than that of commodity indices model especially in agriculture and metal sectors. The individual commodity futures portfolio excluding the energy sector has outperformed the three sectors covered by individual commodity futures portfolio. In order to verify the validity of the model, it is judged that the analysis results should be similar despite variations in data period. So we also examined the odd numbered year data as training data and the even numbered year data as test data and we confirmed that the analysis results are similar. As a result, when we allocate commodity assets to traditional portfolio composed of stock, bond, and cash, we can get more effective investment performance not by investing commodity indices but by investing commodity futures. Especially we can get better performance by rebalanced commodity futures portfolio designed by SVM model.

• Journal of Technology Innovation
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• v.30 no.3
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• pp.1-34
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• 2022

This study examines the effect of CEO age on the value relevance of R&D which is the relationship between R&D expenditures and firm value. The value relevance of R&D expenditures is higher in companies with current older CEOs, while the relationship in companies with younger CEOs is lower than that of other companies. These results suggest that older CEOs tend to be conservative and make prudent R&D investment decisions. Because they make systematic investment decisions with rich experience, they are expected to have higher investment performance in the market. On the other hand, young CEOs choose risky investments in order to have their abilities highly evaluated in the labor market. The market places a high degree of risk on the R&D decision-making of young CEOs. Next, we analyze whether the age of the replaced CEOs affects the relationship between R&D expenditures and firm value. The result shows that the change of management increases the effect of R&D expenditure on firm value. However, in the case of being replaced by a younger CEO, this positive relationship becomes lower than that of other companies, showing results consistent with the case of the current younger CEO. The samples are analyzed by dividing them into conglomerates and non-conglomerates. In conglomerates, the age of the replaced CEOs does not affect the value relevance of R&D expenditures. Only non-conglomerates showed a negative (-) effect on the replaced younger CEOs. These results suggest that conglomerates maintain the stability of R&D management and performance so that the performance of R&D expenditures is not significantly affected by the age of the replaced CEOs. The reason is that mutual checks and support are coordinated within the group through decentralization of work and systematization of decision-making. This study shows evidence that the relationship between R&D expenditure and firm value according to the age of the replaced CEO is a phenomenon that only occurs in non-conglomerates. This phenomenon suggests that conglomerates are stably managing their R&D performance regardless of the change of CEOs or the characteristics of the CEOs.

• Journal of Labour Economics
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• v.26 no.1
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• pp.75-110
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• 2003

It is urgent to systematically understand vocational training and qualification systems in advanced nations in order to evaluate and reform the Korean counterparts. In the British case, the system has been transformed from the market-led one to the state-led one while the German system is still classified as a corporatistic one. This structural difference is crucial to understand their performances and the German one won a relatively more positive evaluation in its performance. However, the structure and function of the German system has lately revealed numerous limitations in face of the political unification and long duration of economic recessions. This study shows that those differences in structural and functional features and recent developments of the systems in two nations are closely associated with their differences in educational philosophies and occupational cultures, roles of the state and employers, and operation mechanisms of training courses and vocational qualifications systems. Understanding those national differences raises a fundamental question on the hasty prescription of some domestic studies that a few policies in the foreign systems must be implanted to reform the Korean counterpart without understanding the fundamental difference between the domestic and those foreign systems.

• Journal of the Economic Geographical Society of Korea
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• v.15 no.2
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• pp.147-165
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• 2012

Recently, the theory of open innovation emerges as a new innovation paradigm. This paper aims to examine open innovation activities of SMEs. Many firms tend to search new knowledge from various external sources and to pursue to achieve innovation resources or knowledge of external innovators. Particularly, this paper focus on the process of external knowledge networking and open innovation occurred in the process of technology innovation. The data used in this study were those that had been collected for total 3,400 sample SMEs that had conducted R&D. and in-depth interviews were conducted with 14 SMEs located at Chungbuk-Technopark. Empirical findings can be summarized as follows; SMEs tend to search new knowledge from various external sources and to pursue to achieve innovation resources or knowledge of external innovators, because they have lack of innovation resources. therefore, the conducting of open innovation affected positively the innovation performance of SMEs. In addition, empirical findings also indicated that expanding flexibility of labor market enhances open innovation activities of SMEs.