• KDI Journal of Economic Policy
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• v.40 no.2
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• pp.23-52
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• 2018

Given the limited availability of data in South Korea, this study proposes a method by which to estimate regional capital stock by modifying the benchmark year method (BYM) and applies it to estimate regional net capital stock by sector in transport infrastructure. First, it estimates time-varying sectoral depreciation rates using the sectoral net capital stock and the investment amount for each period. Second, it estimates the net capital stock of each period using the net capital stock in the base year and the investment in each period. Third, in order to ensure that the sum of net capital stocks by region is equal to the nationwide estimate, the national estimates are allocated to each region according to the proportion of the values derived from the previous stage. The proposed method can alleviate well-known problems associated with conventional BYMs, specifically the upward bias and arbitrary choice of the depreciation rate.

• Journal of Distribution Science
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• v.21 no.4
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• pp.69-80
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• 2023

Purpose: In the landscape of global challenges, the adoption of new technologies and the implementation of intellectual capital are seen as the main vehicles to enhance banking operations. Inspired by this issue, our study is to discover the effect of technological investments and intellectual capital on one of the most important dimensions of banking operations, namely deposit intermediation. Research design, data and methodology: To tackle this concern, we utilize the data of 12 banks from 2011 to 2020 in Vietnam, and perform the multivariate regression analysis as well as provide different robustness tests. Results: Our empirical analysis demonstrates that a surge in technological expenditures would foster distribution of deposit intermediation of banks. Also, the blend of technology spending and intellectual capital plays a key role in boosting this function of banks. Conclusions: The study would bring one of new evidence for bank managers and national authorities in Vietnam, where has undergone the completely reform period in banking system. Accordingly, technological innovation and intellectual capital should be taken into consideration when managers and regulators build business strategies and related policies. The findings are also useful for nations bearing a close resemblance to Vietnamese financial system.

• Journal of the Korean Geographical Society
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• v.43 no.4
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• pp.561-579
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• 2008

The population concentration in Seoul has caused the chronic housing shortage. Accordingly the new towns in the Capital region were developed to alleviate overcrowding conditions in Seoul. The purpose of this study is to analyze changes of migration and commuting patterns according to new town development in the Capital region for the period of $1995{\sim}2005$. Further this study examines the changes of self-sufficiency level for new towns using jobs to housing ratio. During the last 10 years, the migration pattern in the Capital region has been pretty much followed the new town development. Such a migration pattern has influenced the commuting patterns, expanding the Seoul Metropolitan Area into northeastern par of the Capital region. The result reveals that self-sufficiency levels of new towns have become higher over the period of $1995{\sim}2005$, indicating that new towns are gradually strengthening their economic functions and have potential to become new business centers in the future. Therefore, the policy focusing on the increase of the job-housing balance ratio and self-sufficient level in new towns will be a desirable policy alternative to solve the transportation problems in the Capital region.

• Journal of Family Resource Management and Policy Review
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• v.16 no.1
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• pp.67-83
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• 2012

Baby boomers are often defined by their support of their parents and their devotion to their children's educational success by providing financial and emotional aids. Now, 7.12 million baby boomers in South Korea are retiring, or are about to retire, without any retirement plans. Similar to financial stability, health, and leisure life, social capital is another important element in the quality life after retirement. This is because social capital can function as a potential resource network. Social capital is a source that provides money, information, goods, services, emotional aids, social relational opportunities etc. In the past, family and community provided social capital for the aged. However, the baby boomer generation cannot expect the same. The baby boomers have the task of creating new social capital that can assure their quality of life. Therefore, this study examines cohort characteristics of the baby boomer generation and, based on the examination, seeks an alternative for social capital. The results are as follows: First, social capital from the local community can be an alternative source of caring for the baby boomers in old age. Second, among the social capital of the local community, elderly care supported by a family friendly community is proposed. In addition, baby boomers must become the primary social capital that contributes to a mature civil society rather than a beneficiary of welfare for the aged.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.12
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• pp.195-210
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• 2020

This study describes the structure of the capital markets for small- and medium-sized enterprises (SMEs) and startup companies in Korea, which is an emerging market that has experienced drastic changes. The overall capital market can be divided into private and public capital markets. In the private capital market, most of the demand for capital comes from non-listed private firms, including startups and SMEs. In the case of SMEs and startups, the KOSDAQ, the Korea New Exchange (KONEX), and primary collateralized bond obligations (P-CBOs) are part of the public capital market. SMEs and startups are generally incapable of raising sufficient capital owing to their low credit ratings, and they largely have limited access to primary markets to issue shares and borrow money. The Korean government has developed a systematic financial aid program to provide funds to these companies. The fund for SMEs has significantly contributed to the development of the venture capital market. Many Korean banks provide substantial lending to SMEs, but this lending is available only because of the Korean government's loan recovery guarantee. Furthermore, SMEs can issue corporate debt in the form of primary collateralized bond obligations through government guarantees, but such debt issuances have placed increasing pressure on public guarantee institutions.

• International conference on construction engineering and project management
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• 2005.10a
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• pp.968-973
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• 2005

The purpose of this study is to clarify the reality of labor and capital productivity in the construction industry through an industry-level approach and to analyze the relationship between labor and capital productivity using a Cobb-Douglas production function. According to the research results, the construction industry has shown a very high capital productivity, while labor productivity has kept up a low level during the 1980s and 1990s. The reason was because of the lack of skillful construction workers and the decrease of capital. Meanwhile, the construction productivity has greatly increased since 2000 when there was no change in wages. This was because of a large inflow of low-wage foreign workers while the amount of value added has dramatically increased due to the liberalized sale price of apartment buildings. According to the analysis by the Cobb-Douglas production function, the elasticity coefficient of V/L to K/L in the construction industry had decreased from 1.1663 in the 1^st period(1971-1988) to 0.4465 in the 2^nd period(1989-1997), and to 0.1664 in the 3^rd period(1998-2003). Such a result means that the allocation of labor has gradually increased while the allocation of capital has decreased. Moreover there was a big increase in allocation of labor after 1998 due to the excessive deterioration of capital. In conclusion, in order to raise the construction productivity and to avoid labor-intensive production methods, investment for capital should be more increased. In particular, new machinery and equipment that can actually substitute human labor in construction sites should be more developed and applied to construction sites.

• International journal of advanced smart convergence
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• v.6 no.2
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• pp.34-50
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• 2017

This study delved into the effects of labor union members' social media utilization for the formation of labor union social capital. Specifically, this study aimed to identify the effects of labor union-related social media use and participation on the labor union's social capital formation through quantitative and qualitative research. It set up trust, network, and participation as social capital components and as dependent variables. Network, in particular, was divided into bonding and bridging aspect. There is the correlation between labor union-related social media use and the formation of labor union social capital. As participation in the group type social media operated by a labor union becomes more active, evaluation on labor union social capital throughout trust, network, and participation is higher. Especially, the correlation between bonding network and bridging network was high. This proves that a labor union's bond enhancement does not result in the labor union's selfishness, but it can build a cooperative system with an external network.

• Knowledge Management Research
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• v.12 no.4
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• pp.91-119
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• 2011

Compared to the industrial society, the knowledge-based economy of the 21st century has placed importance on intellectual capital as a sustainable competitive advantage of an organization. The ownership, creation, and interaction of intellectual capital is emerging as the main challenges of the management and, moreover, it might extend to the issue of intellectual capital management. This research found that the exploitation and sharing of knowledge was more efficient in a networked organization through a case study for A research institute, which attempted intellectual capital management domestically for the first time. The contribution of this exploratory research is to suggest new perspectives on the ownership of intangible asset, the evaluation of knowledge-based product, and the competitive advantage and complementarity of an organization in the knowledge-based economy. The limitation is that this research is just exploratory due to the inaccessibility of data. If the intellectual capital management would be more common, the diverse researches should be empirically carried out.

• Journal of Public Diplomacy
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• v.2 no.1
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• pp.116-135
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• 2022

Public diplomacy activities can benefit from social capital theory, when its social dynamics is elucidated in the investment of complex social networks and in the establishment and management of relationships with foreign publics. Social capital theory explains that actors can produce purposive actions to mobilize resources in social structures, which thus explains the dynamics of social interactions. In response to the lack of conceptual frameworks for understanding public diplomacy activities within social capital theory, we conducted a narrative literature review that intends to identify the means through which international actors, such as governments, engage with foreign publics through the dynamics of social networks and the resources embedded in them. In addition, we explored the multidimensional characteristics of social capital to enhance the comprehension of the manner in which actors access, share, and maintain resources in target communities, institutions, or organizations through public diplomacy activities. In summary, we highlight the importance of new theoretical explorations on the application of social capital theory to public diplomacy and the need for a research agenda in the field.

• KDI Journal of Economic Policy
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• v.44 no.1
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• pp.77-98
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• 2022

This paper empirically verifies that the types of capital adjustment costs serve as an important mechanism in relation to investment decision-making after confirming that the investment dispersion of Korean firms is pro-cyclical and can affect business cycles. Specifically, it is found through empirical methods using corporate financial data that capital adjustment costs generally assumed to take a quadratic form in macroeconomics are asymmetric and irreversible in the Korean economy. In particular, capital adjustment costs are empirically proven to cause investment dispersion to expand given that the substitution effect of the marginal value to the marginal cost for one unit of investment in the inter-temporal investment decision is affected by that cost with regard to the resale of owned equipment assets, as opposed to new investments in equipment assets. We ultimately show, albeit indirectly, that investment dispersion can affect business cycles as capital adjustment costs influences investment decisions. What is implied is that the capital adjustment cost is not merely an exogenously deep parameter that fits the dynamics of business cycles in a macroeconomic model but could instead be a policy variable that can be endogenized through government policies.