• Journal of the East Asian Society of Dietary Life
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• v.26 no.4
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• pp.346-358
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• 2016

Local food reflects the identity and image of a specific region. It is also a core element for determining tourists' experience of a region. The purpose of the present study was to develop a Jeju food tour package using local foods and estimate the economic value of the suggested tour package using Contingent Valuation Method (CVM). Five food tour packages were developed by researchers. In order to modify and measure the value of each package, an expert panel survey was conducted, and 'package 5' was selected as a food tour scenario for the tourist survey. A survey was conducted on 295 domestic tourists who visited Jeju within the past 10 years in order to evaluate the economic value and feasibility of the Jeju food tour package. A total fo 72.9% of respondents answered that they were willing to pay for the Jeju local food tour, and the willingness to pay (WTP) range was between ￦45,000 and ￦105,000. The primary factors correlated with WTP was food expenses, followed by leisure experience expenses, interest in local foods, education level, visit frequency and age. The WTP of the Jeju local food tour was calculated with the significantly affected factors using stepwise regression model. The result of the present study reveal that tourists' WTP increased with higher food expenses, education level, and age group. The average value of food expenses, education level, and age were substituted into the formula derived from the regression analysis, yielding 58,385.752 KRW as the WTP. The expected economic value created by exploiting the Jeju local food tour was shown to be 700 billion KRW per year, calculated by multiplying WTP of the food tour packages by the number of tourists. This study examined the feasibility and plan of the food tour package to increase the economic value of Jeju local food. In the case of the culinary tour program based on Jeju local food launching, the estimated economic effect was great. Therefore, in-depth research to merchandise the Jeju local food tour program is needed.

• The Korean Journal of Financial Management
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• v.25 no.3
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• pp.1-32
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• 2008

This study examines the changes and determinants of cash to assets ratios(cash ratios) by analyzing 14,016 Korean manufacturing firms sample for the period of $1999{\sim}2004$. The major findings can be summarized as follows. First, the average cash ratios for Korean manufacturing firms have increased from 4.7 percent of 1999 to 5.2 percent of 2004. In addition, the average cash holdings per firm also have increased from 4.3 billion Won to 8.0 billion Won during the same period. However, the capital expenditures relative to cash ratios or operating cash flow have decreased significantly, confirming the notion that physical investment of Korean manufacturing sector has been shrinking recently. Second, in regression tests with panel data, the coefficients of target adjustment variables show the expected negative signs, but coefficients of the deficit of fund variables show the unexpected positive signs. Thus, the evidence seems to be supportive of static tradeoff model of cash holdings. Third, in regression tests to find the determinants of cash ratios, most of the variables show similar results as the previous studies. However, in terms of adjusted coefficient of determination and F-statistic, the firm-characteristic variables suggested by static trade-off theory have more explanatory power than the variables suggested by pecking order theory.

• Journal of Convergence for Information Technology
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• v.11 no.12
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• pp.49-58
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• 2021

This study examined the effects of antecedent variables on life satisfaction of elderly people who live alone and who live with others by comparing the levels of depression, self-esteem, and life satisfaction. Using the 15th data of the Korean Welfare Panel held in 2020, independent sample t-test and hierarchical regression analysis were conducted. Elderly people who live alone had a high sense of depression, low self-esteem, and low life satisfaction. For both of them, the older the age and the higher the income level, the higher the life satisfaction. The regression model, which added depression and self-esteem, had a significant effect on both of them, but the effect of self-esteem was higher (𝛽=.40, .41) than that of depression (𝛽=-.28, -.29). The effects of depression and self-esteem on life satisfaction were higher in elderly people who live alone (R²=.409) than in elderly people who live with others (R²=.398). Based on the research results, this study suggested appropriate policies and practice directions to enhance self-esteem and improve life satisfaction of elderly people who live alone.

• Journal of the Korean Society of Surveying, Geodesy, Photogrammetry and Cartography
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• v.38 no.4
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• pp.295-304
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• 2020

The IPCC (Intergovernmental Panel on Climate Change) recommended the importance of preventive measures against extreme weather, and heat waves are one of the main themes for establishing preventive measures. In this study, we tried to analyze the heat vulnerable areas by considering not only spatial characteristics but also social characteristics. Energy consumption, popu lation density, normalized difference vegetation index, waterfront distance, solar radiation, and road distribution were examined as variables. Then, by selecting a suitable model, SLM (Spatial Lag Model), available variables were extracted. Then, based on the Fuzzy theory, the degree of vulnerability to heat waves was analyzed for each variable, and six variables were superimposed to finally derive the heat vulnerable area. The study site was selected as the Daegu area where the effects of the heat wave were high. In the case of vulnerable areas, it was confirmed that the existing urban areas are mainly distributed in Seogu, Namgu, and Dalseogu of Daegu, which are less affected by waterside and vegetation. It was confirmed that both spatial and social characteristics should be considered in policy support for reducing heat waves in Daegu.

• Journal of the Korea Society of Computer and Information
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• v.16 no.7
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• pp.183-190
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• 2011

Loan amount of housing mortgage is composed of various factors. This study paper studies focuses on estimating the determinants of a loan amount of housing mortgage. The region for analysis consist of seven groups, that is, metropolitan city (such as Busan, Daegu, Incheon, Gwangiu, Daejeon, Ulsan.) and Seoul. Analyzing period be formed over a 45 time points(2007. 01.~ 2010. 09). In this paper the dependent variable setting up loan amount of housing mortgage, explanatory(independent) variables are composed of the consumer price index, unemployment rate, average monthly household income per household, expenditure rate of health care, composite stock price index and overdue rate of household loans for commercial bank. In looking at the factors which determine loan amount of housing mortgage, evidence was produced supporting the hypothesis that there is a significant positive relationship between the consumer price index and unemployment rate. The study also produced evidence supporting the view that there is a significant negative relationship between expenditure rate of health care. The study found that average monthly household income per household, expenditure, composite stock price index and overdue rate of household loans for commercial bank were not significant variables. The implications of these findings are discussed for further research.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.20 no.5
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• pp.352-362
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• 2019

The study investigates one of the long-standing, but still controversial issues in modern finance from the international and domestic perspectives. That is, financial components and differences on corporate profitability are identified and compared under the primary hypotheses. Empirical research settings include the sample data as KOSPI-listed chaebol firms, time reference covering the post-era of the global financial turmoil and two differently defined profitability indices measured by the market- and the book-value bases. A majority of total 7 explanatory variables except firm size and leverage ratio reveal their statistically significant power to explain profitability indices for the chaebol firms in the first hypothesis. The results are generally compatible with those obtained from their counterparts of non-chaebol firms. In the second hypothesis applying multinomial logistic model, the chaebol firms are classified into three groups according to the level of profitability. It is then confirmed that variables to represent the market-valued debt ratio, business risk and growth potential are financially discriminating factors among the three groups. The study may provide a new vision to identify financial factors of corporate profitability for Korean chaebol firms after the global financial crisis, which can enhance the benefits of interested parties at the government or corporate level in a virtuous cycle.

• Journal of Digital Convergence
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• v.18 no.6
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• pp.513-522
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• 2020

The purpose of this study is to analyze the auto-regression effect between the elderly's assets and depression and life satisfaction, and to approach the influence of assets and depression on the elderly's life from a longitudinal perspective. For this purpose, the data for the 9th year (2014), 11th year (2016), and 13th year (2018) of the Korea Welfare Panel were used. As a result of the analysis, First, the assets, depression and life satisfaction of the elderly have a lasting effect on the passage of time, and the assets, depression and life satisfaction of the previous point in time (B=.694, B=.725, p<.001), depression (B=.258, B=.331 and p<.001) and life satisfaction (B=.264, B=.265, p<.001). Second, cross-recursion coefficients show how the relationship between the assets of the elderly and depression and the satisfaction of life affects each other over time, and the assets of the older person at the previous point in time (B=.010, B=.011, p<.001), the assets of the older persons at previous times are subsequently satisfied with their lives (B=.128, B=.124, p<.001). Based on the results of the above analysis, it is necessary to support the elderly's asset management service and education to prevent depression, such as continuous asset utilization education.

• Journal of Korea Technology Innovation Society
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• v.10 no.3
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• pp.383-405
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• 2007

In this paper we estimate knowledge production function for 15 South Korean industry sectors using panel data. To accommodate the influence of inter-sectoral interactions on the creation of knowledge, we estimate parameters for related knowledge production functions using the Dynamic Seemingly Unrelated Regression(DSUR) model proposed by Mark et al. (2005). We find the elasticity of knowledge production with respect to the size of research staff to be 0.25 and that with respect to the existing stock of knowledge to be 0.35. The fact that the elasticity of new knowledge creation with regard to the existing knowledge stock is below 1 in South Korea corroborates the view that the rate of long-term growth of her economy is chiefly determined by the elasticity related to production functions of goods and services and the rate of population growth, and that her government policy, to ensure a continued growth for the Korean economy, must shift the focus of R&D policies from the current direct intervention-centered model to one consisting of indirect measures, namely supporting knowledge management and diffusion and the creation of a knowledge sharing system. In terms of R&D policy implications it could be consider that the national knowledge production system should strengthen the cumulative process of knowledge accumulation and population for research and development. Our country R&D policy, also, need to adopt a global approach to increase knowledge stock at the highest levels of a country.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.18 no.3
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• pp.518-526
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• 2017

This study analyzed the impact of family firms and their characteristics on how they use debts to analyze the decision-making process of Korean family firms. For analysis, we classified the characteristics of family firms into three categories, through the influence of the relationship between the lack of funds and net debt issuance, which was confirmed as the 'packing order theory' of family firms. There was a total of 4,503 enterprises in the Korean Exchange (KRX). The period of analysis was 10 years, between 2004 and 2014. To summarize, Shyam-Sunder and Myers (1999) validated the packing order theory by presenting a model of family businesses that showed greater applicable to higher packing order theory than a model of non-family businesses. Moreover, the results also confirmed the application of the packing order theory by the family stronger corporate governance and ownership structure. The ownership and governance characteristics of the ruling family has also shown the applicability of higher packing order theory.

• Journal of Technology Innovation
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• v.21 no.2
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• pp.169-197
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• 2013

Despite many theoretical and empirical studies, general causality between IPRs system, firm technological innovation and financial performance is not clear. This study notices that the core factor to create financial performance is different by each industry. The study analyzed the effect of IPRs system on innovation and economic growth targeting 3 industries; pharmaceutical industry to which the basic track of creating performance is applied (strengthening IPRs${\rightarrow}$increasing R&D input/output${\rightarrow}$increasing sales); semiconductor industry where the relationship between stronger IPRs and R&D input/output is weak; and shipbuilding industry which has weak correlation between R&D and sales. It used panel data for 15 years since TRIPs when the patent institution in Korea reached up to the level of advanced countries, and applied the dynamic regression model which estimates the fixed effect model with difference-GMM. As a result, stronger IPRs increased R&D input/output, and financial performance in pharmaceutical industry, but has no influence on semiconductor and shipbuilding industries. That is, it is necessary to customize the construction of system and policy for strengthening IPRs by each industry, and unitary strengthening or weakening may have no significant impact on financial performance improvement in specific sectors.