• Communications for Statistical Applications and Methods
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• v.23 no.2
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• pp.179-187
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• 2016

The fixed effects panel probit model faces "incidental parameters problem" because it has a property that the number of parameters to be estimated will increase with sample size. The maximum likelihood estimation fails to give a consistent estimator of slope parameter. Unlike the panel regression model, it is not feasible to find an orthogonal reparameterization of fixed effects to get a consistent estimator. In this note, a hierarchical Bayesian model is proposed. The model is essentially equivalent to the frequentist's random effects model, but the individual specific effects are estimable with the help of Gibbs sampling. The Bayesian estimator is shown to reduce reduced the small sample bias. The maximum likelihood estimator in the random effects model is also efficient, which contradicts Green (2004)'s conclusion.

• Korea Trade Review
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• v.41 no.5
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• pp.373-389
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• 2016

This study mainly investigates the port SOC's impact on trade volume. In order to investigate the relationships between port SOC and trade volume, we did the empirical analysis using panel data regression and fixed effects model. The total period of 97 years and 1,082 ports' information were applied to panel data and regression model. According to the results, the coefficients of development of container berth, development of bulk berth, maintenance of port, the jetty facilities like breakwater have positive(+) impact on the dependent variable, the trade volume. Especially, the jetty facilities show a strongly positive impact on trade volume. On the other hand, the development of new port and navigation facilities like lighthouse have a negative(-) impact. In examining Hausman test and LR test, the fixed effect model is statistically more appropriate than the random effect model for this study.

• The Journal of Fisheries Business Administration
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• v.51 no.1
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• pp.81-96
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• 2020

The purpose of this paper is to analyze factors affecting the net income of regional and industrial fisheries cooperatives in South Korea using panel data. This paper utilizes linear or GLS regression models such as pooled OLS model, fixed effects model, and random effects model to estimate affecting factors of the net income of regional and industrial fisheries cooperatives. After reviewing various tests, we eventually select random effects model. The results, based on panel data between 2013 and 2018 year and 64 fisheries cooperatives, indicate that capital and area dummy variables have positive effects and employment has negative effect on the net income of regional and industrial fisheries cooperatives as predicted. However, debt are opposite with our predictions. Specifically, it turns out that debt has positive effect on the net income of regional and industrial fisheries cooperatives although it has been increased. Additionally, this paper shows that the member of confreres does not show any significant effect on the net income of regional and industrial fisheries cooperatives in South Korea. This study is significant in that it analyzes the major factors influencing changes in the net income that have not been conducted recently for the fisheries cooperatives by region and industry.

• Journal of Korean Society of Transportation
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• v.36 no.2
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• pp.141-154
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• 2018

In order to meet the ever-increasing demand for international air travel, several plans are underway to open new airports and expand existing provincial airports. However, existing air demand forecasts have been based on the total air demand in Korea or the air demand among major cities. There is not much forecast of regional air demand considering local characteristics. In this study, the outbound air travel demand in the southeastern region of Korea was analyzed and the fixed-effects model using panel data was proposed as an optimal model that can reflect the inherent characteristics of metropolitan areas which are difficult to observe in reality. The results of model validation show that panel data analysis effectively addresses the spurious regression and unobserved heterogeneity that are difficult to handle in a model using only a few macroeconomic indicators with time series characteristics. Various statistical validation and conformance tests suggest that the fixed-effects model proposed in this study is superior to other econometric models in predicting demand for international demand in the southeastern region.

• Korean Journal of Legislative Studies
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• v.23 no.2
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• pp.147-177
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• 2017

Although a number of empirical studies found that political ideology plays a significant role in Korean elections, they entirely rely on cross-sectional data analysis. In contrast to previous research, this study investigates the effects of ideology in the 2012 Korean presidential election through standard panel data analysis. Specifically, using "EAI Panel Study, 2012", the effects of ideology on both candidate evaluation and vote choice were examined via fixed effects, random effects, and pooled regression analysis. And the results from applying the two most popular models of ideological voting, the proximity model and the directional change model were also compared. The results show that candidate evaluations and vote choice during the election (April, 2012- December, 2012) were significantly influenced by the ideological difference between voters and candidates, independent from partisanship and other standard socio-demographic factors. And this ideological voting during the election seems better captured by the directional change model than by the proximity model.

• Journal of Korean Society of Rural Planning
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• v.27 no.2
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• pp.69-76
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• 2021

This study focuses on the relationship between ginseng production per area and meteorological factors. Four areas of major ginseng production are considered in the study. Chungcheongnam-do and Gyengsangbuk-do are selected as the original major production places and Gyeonggi-do and Kangwon-do are selected as the new major places. The meteorological factors applied for study are the average temperature, accumulated precipitation, and integrated sunshine hours. With the data collected across four areas, we used a panel data analysis. From the results of Hausman test, the fixed effects model allowing to control individual area effect is preferable to the random effects model. Based on the results of the fixed effects model, the accumulated precipitation statistically and significantly affect the decreases in ginseng production. Changes in the average temperature negatively affect ginseng production, but the value is not statistically significant. The integrated sunshine positively affect ginseng production, but the value is not statistically significant.

• Journal of Labour Economics
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• v.43 no.1
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• pp.35-57
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• 2020

Using the Korea Labor and Income Panel Study(KLIPS), this study analyzes the effects of profit sharing on employer-provided training. The estimation results of the fixed effect model that controls for endogeneity show that the workers of profit-sharing firms have a 6.7%-6.8%p higher probability of receiving employer-provided training than the workers of firms without profit sharing. They also show that the workers of profit-sharing firms have a 3.3%p higher likelihood of having employer-provided OJT than their counterparts. The impacts of profit-sharing on employer-provided training appear consistently regardless of the estimation models and in the subsamples. These findings support the hypothesis that profit-sharing promotes employer-provided training.

• The Journal of the Korea Contents Association
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• v.14 no.12
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• pp.753-763
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• 2014

After retirement, retirees are exposed to many changes. But, one of the most influential factor on retirement is Social network. Social network is making various relationships with many people. This consists of functional feature and structure feature. This study to systematically investigate social network changes of pre- and post-retirement by using two features. We utilized 2008~2012 'Longitudinal study of ageing' and selected 1,569 retirees above 45 years old as a final subject. This study used STATA 12.0 program for analysing frequency and descriptive statistic. At first, we analyzed personal characteristics and affecting factor on social network of retirees through Panel logit model and fixed effects regression model. Second, we applied multiple panel logit model and fixed effects model to learn factor affecting employment and social network changes. We found that a number of social activities affects social network in the structure feature and support from sons and daughters also influences social network in the functional feature after retirement.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.12
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• pp.95-105
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• 2021

A prerequisite of a sound financial system is effective channeling of financial resources to efficient users; hence maximizing economic and societal welfare. To that end, the prevalence of bad loans in banks in emerging economies is a major policy concern. In an attempt to add to the growing body of literature explaining the interrelationship between macroeconomic and firm-specific factors, and non-performing loans (NPL), this paper examines data from 24 scheduled commercial banks in Bangladesh from 2008 to 2019. Macroeconomic factors as well as firm-specific factors related to profitability, capital strength, and efficiency are considered. Panel data regression analysis is performed to estimate pooled OLS, fixed effects, and random effects models. Following the necessary testing, it was found that the fixed effects model with robust standard error is appropriate. Results show that return on assets and inflation have a negative influence on NPL, but GDP growth has a favorable impact. The paper concludes by asserting that the evidence supports similar findings from studies both in Bangladesh and elsewhere and it is noted that a combination of these macroeconomic and firm-specific factors explains only a small portion of the total variation in NPL.

• The Korean Journal of Health Service Management
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• v.11 no.3
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• pp.51-64
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• 2017

Objectives : This study examined the effect of private health insurance on medical care utilization by subscription type. Methods : The data used were the six waves of the Korea Health Panel (2009-2014), and 16,187 persons were the subjects of the analysis. We performed a panel regression with a fixed effects model. Results : Indemnity private health insurance was positively related to the number of physician visits, number of admissions, and total length of stays. However, fixed-benefit private health insurance was not related to medical care utilization. Conclusions : The result of this study, which shows the difference by subscription type in the effect of private health insurance on medical care utilization, suggests that continuous monitoring of indemnity private health insurance is needed in the future.