• The Journal of the Korea Contents Association
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• v.15 no.7
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• pp.436-448
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• 2015

This study examined one of the contemporary financial aspects, the level of corporate cash holdings for the firms belonging to the chaebols in the Korean capital markets. Being accompanied by various alternative econometric methodologies such as static and dynamic panel data model, stepwise OLS, and Fama-Macbeth modelm this research extended the preceding Kim's study (2015) in anticipation of validating the results to identify any financial factors which may significantly affect the chaebol firms' cash reserves. Several financial characteristics such as CASHFLOW, MVBV, REINVEST, and AGENCY, were found to be statistically significant factors on the level corporate liquidity, along with CCC as cash conversion cycle in the models. It may be plausible that any outcomes of this study may be applied to enhance the efficiency of financial strategies of the chaebol firms on cash holdings, thereby expediting the development of the domestic capital markets status quo toward the advanced one in the market classification.

• The Korean Journal of Health Service Management
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• v.12 no.1
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• pp.123-135
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• 2018

Objectives : The purpose of this study was to analyze the effects of welfare workers who are economically active as wage earners after undergoing industrial accidents on their turnover intention in terms of demographic, working environment, and health characteristics. Methods : The data were analyzed in this study with the chi-square test and logistic regression using SPSS ver. 22.0 to analyze the factors influencing the turnover intention of industrial workers(PSWCI, 2016, N=1,083). Results : Model 1 included age, education, average wage, and union, Model 2 includer the number of workers in the workplace, average number of working days, overtime, and employment status were statistically significant. Model 3 included characteristics of health, Model 4 includer education, average wage, union, average number of working days, overtime, employment status were statistically significant. Conclusions : It is necessary to develop tools, indicators, and systematic and step-by-step programs to evaluate the stable work environment in the workplace, as well as to improve workers' return to work.

• The Journal of Asian Finance, Economics and Business
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• v.6 no.2
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• pp.15-24
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• 2019

This study analyzes the effect of the capital structure of Korean manufacturing firms on default risk based on Moody's KMV option pricing model where the probability of default is obtained by measuring the distance to default as a covariant in logit model developed by Merton (1974). Based on the panel data of manufacturing firms, this study achieves its primary objective, using a fixed effect regression model and examines the effect of a firm's capital structure on default risk amongst publicly listed firms on Korea exchange during 2005-2016. Empirical results obtained suggest that the rise in short-term debt to assets leads to increase the risk of default whereas the increase in long-term debt to assets leads to decrease the default risk. The benefits of short-term debt financing over a short-term period fade out in the presence of information asymmetry. However, long-term debt financing overcomes the information asymmetry and enjoys the paybacks of tax advantage associated with long-term debt. Additionally, size, tangibility and interest coverage ratio are also the important determinants of default risk. Findings support the trade-off theory of capital structure and recommend the optimal use of long-term debt in a firm's capital structure.

• Journal of Labour Economics
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• v.30 no.2
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• pp.1-31
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• 2007

The purpose of this paper is to analyse wage differentials between non-regular and regular works. Data from EAPS(Economically Active Population Survey) 2005 show that the monthly wage level of non-regular worker is only 63% of regular worker and thus there exist 37% wage differentials. However, these wage differentials do not control for hours of work, the amount of human capital, job characteristics, and other individual characteristics affecting wages. If these variables are added to the hourly wage regression equation, the wage gap between non-regular and regular workers drastically decreases to 2.2%. Furthermore, decomposition of the wage differentials by Oaxaca method shows that productivity difference between non-regular and regular workers explains up to 91% of the wage gap. This implies that the magnitude of wage discrimination against non-regular workers is at most 0.2% of hourly wage of regular workers. To control for unobserved individual heterogeneities more accurately, we also construct panel data and estimate wage differentials. The results from the panel data approach show that there is no difference in the hourly wages between non-regular and regular workers. In some specifications, the wage rate of non-regular worker is rather higher than that of regular worker. These results are consistent with economic theory. Other things being equal, workers with unstable employment may require higher wages to compensate their unstability. Firms are willing to pay higher wages if they can get more flexibility from non-regular employment. Empirical results in this paper cast doubt on the view that there is wage discrimination against non-regular workers in the labor market. Public policies should be targeted for disadvantaged groups among non-regular workers, not for non-regular workers in general.

• The Journal of Asian Finance, Economics and Business
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• v.6 no.4
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• pp.37-43
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• 2019

The research aims to study the relationship between export performance and stock return of Vietnamese fishery companies. To conduct this study, quarterly data was collected for period from 2010-2018 of 13 fishery companies listing in Ho Chi Minh Stock Exchange (HOSE) and Ha Noi Stock Exchange (HNX). The export performance was measured by export intensity, export growth and export market coverage. In addition, interest rate, exchange rate, GDP, firm size, profitability, and financial leverage were considered as the control variables in the research model. Panel data analysis with Generalized Least Squares model was employed to estimate the predictive regression. The findings indicated that export intensity and export growth have a significant and positive relationship with stock returns. However, export market coverage has not a significant relationship with stock return at the 0.05 level. Profitability, financial leverage, and exchange rate have a positive relationship, while interest rate and GDP have no relation to stock return at the 0.05 significance level. The findings imply that investors should consider the export intensity instead of export growth and export market coverage as selecting stock of fishery exports firms to invest; managers should increase export intensity to increase company's stock price or firm market value.

• Journal of Family Resource Management and Policy Review
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• v.14 no.4
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• pp.263-277
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• 2010

The purpose of this study was to investigate levels of self-esteem and related variables among the elderly. The data is from the Korea Welfare Panel Study conducted in 2007. The data was gathered from 2077 elderly, over 65 years old, and was analyzed by Step multiple regression analysis. The major results were as follows. First, the overall level of self-esteem was in the middle range, with an average of 28.18 points. Second, self-esteem levels showed significant differences in terms of gender, age, education level, health, spouse, health insurance, job, monthly household expenses, national pension, assets, home ownership, satisfaction with spouse, satisfaction with leisure, satisfaction with social network, economic services, medical services, and other services. Finally, Model 1 showed meaningful influences from gender, age, education level, health, spouse, and health insurance. Model 2 showed meaningful influences from education level, health, spouse, health insurance, job, and national pension. Models 3 and 4 showed meaningful influences from education level, health, job, satisfaction of spouse, satisfaction with leisure, and satisfaction with social network. In other words, the factors that had the most significant impact on self-esteem were satisfaction.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.4
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• pp.787-796
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• 2021

This study investigates the effect of chief executive officers (CEO) demographic characteristics such as age, functional experience, education, and gender, on corporate leverage decisions. This study investigates the independent commissioner's role in moderating the relationship between CEO demographic characteristics and leverage decisions. The data used is panel data with a sample of 283 non-financial companies listed on the Indonesia Stock Exchange (BEI) from 2010-2017. Moderated regression analysis is used as an analytical technique, with the selected model fixed effects model. The results showed that male and young CEOs were more risk-averse, so they tended to use debt more. However, this study found no evidence of the effect of CEO experience and education on leverage. This study finds evidence that independent commissioners reduce the influence of CEO age and gender on leverage decisions. It shows the role of independent commissioners in controlling risk-taking from male and young CEOs related to leverage decisions. These results become input for companies to consider demographic characteristics in choosing a CEO. Also, companies need a board (in this study seen from independent commissioners) that is strong enough to control the CEO regarding risky decision making, such as leverage decisions.

• Journal of Society of Preventive Korean Medicine
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• v.22 no.1
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• pp.1-14
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• 2018

Objectives : This study aimed to analyze the characteristics of uninsured herbal medicine(UHM) users and the economic and social barriers of UHM utilization. Methods : We used the Korea Health Panel Data, representative national survey on medical utilization and cost, provided by National Health Insurance Service and Korea Institiute of Health and Social Affairs. The frequency analysis was used to identify the characteristics of the respondents, and the cross-analysis (${\chi}^2-test$) was used to verify the relationship between their characteristics and the usage of UHM. In order to analyze the determinants of using the UHM considering the individual's characteristics, logistic regression analysis and multiple regression analysis were conducted for those who used the Korean medicine (KM) outpatient service in 2015. Results : The usage of UHM was significantly lower for those (1) who's age of 20 to 65; (2) who have the university or higher education degree; (3) who live in Jeju province, and (4) who bought the herbal medicine for other health related purposes. On the other hand, the usage of UHM for those (1) who have the first quintile of household income; (2) who have the chronic respiratory disease; (3) who have been taking the medicine for health promotion purpose for more than 3 months and (4) who have purchased the food which has health promotion function was significantly higher than others. The patients who have chronic musculoskeletal diseases accounted the most among the UHM users. Conclusions : There was the considerable inequality in the usage of UHM among household income groups, which provides policy rationale for UHM to be covered by national health insurance. To facilitate the coverage expansion, restrictive covering model can be considered for children and adolescents, or for patients with muskuloskeletal diseases who have the high demand for UHM.

• Journal of the Economic Geographical Society of Korea
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• v.26 no.3
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• pp.310-323
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• 2023

Urbanization and income distribution issues are global interest, and the results of studies on the impact of urbanization on income inequality are different for each country and period. This study analyzes the impact of urbanization on income inequality using regional data from 2000-2021. In particular, serial correlation, spatial dependence, and common factor effects of the Gini coefficient are confirmed and analyzed through a dynamic spatial panel regression model. As a result, urbanization has a positive effect on reducing income inequality. Therefore, it is necessary to continuously promote regional urbanization to improve the income distribution problem. Areas with already high urbanization rates should reduce income inequality by narrowing the wage gap by expanding training opportunities for low-skilled workers, and need to come up with measures to prevent counter-urbanization.

• International Journal of Advanced Culture Technology
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• v.9 no.4
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• pp.61-70
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• 2021

At a time when children of multicultural families have begun to enter adolescence in Korea, this study examined the effects of parental support and bicultural acceptance on the career attitude maturity of multicultural adolescents. This study tried to derive the implications related to the career path of multicultural adolescents by verifying the effects of self-esteem on the relationship between parental support, bicultural acceptance, and career attitude maturity. Using the 8th Multicultural Adolescent Panel Survey data (MAPS), the relative influence of antecedent variables on career attitude maturity was confirmed by hierarchical regression analysis of the data from 1,197 respondents. Model 1 included gender and parental support, Model 2 added bicultural acceptance to Model 1, and Model 3 added self-esteem to Model 2. As a result of the study, in Model 1, women had higher career attitude maturity than men, and the more supportive their parents were, the more positive the level of career attitude maturity. The adjusted R2 of Model 1 was .058, which did not have much influence. In Model 2, gender, parental support, and bicultural acceptance had statistically significant effects on career attitude maturity, and the amount of change in F was also significant. The adjusted R2 of Model 2 was .132. In Model 3, parental support was not statistically significant, and gender, bicultural acceptance, and self-esteem had statistically significant effects on career attitude maturity. The amount of change in F was statistically significant and the adjusted R2 was .185. That is, it was confirmed that the more the women, the more the bicultural acceptance, and the higher the self-esteem, the more prepared and determined the career path. Based on the research results, the implications related to career preparation of multicultural adolescents were presented.