• KDI Journal of Economic Policy
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• v.12 no.3
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• pp.27-45
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• 1990

Two opposing views prevail regarding the economic impact of rural out-migration on the rural areas of origin. The optimistic neoclassical view argues that rapid rural out-migration is not detrimental to the income and welfare of the rural areas of origin, whereas Lipton (1980) argues the opposite. We developed our own alternative model for rural to urban migration, appropriate for rapidly developing economies such as Korea's. This model, which adopts international trade theories of nontraded goods and Dutch Disease to rural to urban migration issues, argues that rural to urban migration is caused mainly by two factors: first, the unprofitability of farming, and second, the decrease in demand for rural nontraded goods and the increase in demand for urban nontraded goods. The unprofitability of farming is caused by the increase in rural wages, which is induced by increasing urban wages in booming urban manufacturing sectors, and by the fact that the cost increases in farming cannot be shifted to consumers, because farm prices are fixed worldwide and because the income demand elasticity for farm products is very low. The demand for nontraded goods decreases in rural and increases in urban areas because population density and income in urban areas increase sharply, while those in rural areas decrease sharply, due to rapid rural to urban migration. Given that the market structure for nontraded goods-namely, service sectors including educational and health facilities-is mostly in monopolistically competitive, and that the demand for nontraded goods comes only from local sources, the urban service sector enjoys economies of scale, and can thus offer services at cheaper prices and in greater variety, whereas the rural service sector cannot enjoy the advantages offered by scale economies. Our view concerning the economic impact of rural to urban migration on rural areas of origin agrees with Lipton's pessimistic view that rural out-migration is detrimental to the income and welfare of rural areas. However, our reasons for the reduction of rural income are different from those in Lipton's model. Lipton argued that rural income and welfare deteriorate mainly because of a shortage of human capital, younger workers and talent resulting from selective rural out-migration. Instead, we believe that rural income declines, first, because a rapid rural-urban migration creates a further shortage of farm labor supplies and increases rural wages, and thus reduces further the profitability of farming and, second, because a rapid rural-urban migration causes a further decline of the rural service sectors. Empirical tests of our major hypotheses using Korean census data from 1966, 1970, 1975, 1980 and 1985 support our own model much more than the neoclassical or Lipton's models. A kun (county) with a large out-migration had a smaller proportion of younger working aged people in the population, and a smaller proportion of highly educated workers. But the productivity of farm workers, measured in terms of fall crops (rice) purchased by the government per farmer or per hectare of irrigated land, did not decline despite the loss of these youths and of human capital. The kun having had a large out-migration had a larger proportion of the population in the farm sector and a smaller proportion in the service sector. The kun having had a large out-migration also had a lower income measured in terms of the proportion of households receiving welfare payments or the amount of provincial taxes paid per household. The lower incomes of these kuns might explain why the kuns that experienced a large out-migration had difficulty in mechanizing farming. Our policy suggestions based on the tests of the currently prevailing hypotheses are as follows: 1) The main cause of farming difficulties is not a lack of human capital, but the in­crease in production costs due to rural wage increases combined with depressed farm output prices. Therefore, a more effective way of helping farm economies is by increasing farm output prices. However, we are not sure whether an increase in farm output prices is desirable in terms of efficiency. 2) It might be worthwhile to attempt to increase the size of farmland holdings per farm household so that the mechanization of farming can be achieved more easily. 3) A kun with large out-migration suffers a deterioration in income and welfare. Therefore, the government should provide a form of subsidization similar to the adjustment assistance provided for international trade. This assistance should not be related to the level of farm output. Otherwise, there is a possibility that we might encourage farm production which would not be profitable in the absence of subsidies. 4) Government intervention in agricultural research and its dissemination, and large-scale social overhead projects in rural areas, carried out by the Korean government, might be desirable from both efficiency and equity points of view. Government interventions in research are justified because of the problems associated with the appropriation of knowledge, and government actions on large-scale projects are justified because they required collective action.

• Magazine of the Korean Society of Agricultural Engineers
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• v.21 no.4
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• pp.99-107
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• 1979

In order to investigate the utilization of industrial waste and briquette ash for concrete production, briquette ash was used as fine aggregate for mortar production and three different kinds mortars were produced by mixing carbide and bottom aches with cement. These products were compared with mortar, produced by standard sand, in the respects of compressive, tensil and bending strengths. Further study on the economic aspect of utilization of briquette ash is needed but the results obtained from our preliminary study are summarized as follows : 1. The compressive strengths at the age of seven days of mortars, made of one to two ratios of cement to briquette ash, (cement+carbide ash) to briquette ash and(cement+bottom ash) to briquette ash were 70%, 61% and 58%, respectively, of the mortar made of standard sand. The compressive strengths of those mortars at the age of 28 days were 56%, 49% and 48% of the mortar made standard sand. 2. The compressive strengths at the age of seven days of the mortar made of one to two ratios of cement to briquette ash, (cement+carbide ash) to briquette ash and (cement+bottom ash) to briquette ash were 84%, 73%, and 70% of the mortar which was produced according to Korean Standard Value. The compressive strengths of those mortars at the age of 28 days were 85%, 73% and 73% of the mortar of the Korean Standard value. 3. The tensil strengths at the age of seven days of the mortars made of one to two ratios of cement to briquette ash, (cement+carbide ash) to briquette ash, and (cement+bottom ash) to briquette ash were 64%, 36%, and 36%, respectively, of the mortar of standard sand. The tensil strengths of those mortars at the age of 28 days were 70%, 47%, and 39%, respectively, of the standard mortar. The mortars made of one to two ratios of cement to briquette ash at the age of seven and 28 days were higher than the mortars of Korean Standard. The other mortars were 61 to 62% at the age of seven days and 75 to 90% at the age of 28 days of the Korean Standard mortar, respectively. 4. The bending strengths at the age of seven days of mortar made of one to two ratios of cement to briquette ash, (cement+carbide ash) to briquette ash, and (cement+bottom ash) to briquette ash were 46%, 53% and 50% of the mortar of standard sand. The bending strengths of those mortars at the age of 28 days were 90%, 77% and 69%, respectively of the mortar of standard sand. 5. The mortar of briquette ash which was lower in strengths compared with the mortar of cement have shown possibility of its secondary products of cement and concrete. The uses of briquette ash and industrial waste as construction materials would contribute toward solving various pollution problems caused by industrial wastes and saving labor costs needed to cleaning up. Furthermore, the effective use of briquette ash would greatly save the aggregate resources.

• Korean Journal of Poultry Science
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• v.16 no.2
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• pp.105-127
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• 1989

Although poultry industry in Japan has been much developed in recent years, it still needs to be developed , compared with developed countries. Since the poultry market in Korea is expected to be opened in the near future it is necessary to maximize the Productivity to reduce the production costs and to develop the scientific, technologies and management organization systems for the improvement of the quality in poultry production. Followings ale the summary of poultry industry in Japan. 1. Poultry industry in Japan is almost specized and commercialized and its management system is ： integrated, cooperative and developed to industrialized intensive style. Therefore, they have competitive power in the international poultry markets. 2. Average egg weight is 48-50g per day (Max. 54g) and feed requirement is 2. 1-2. 3. 3. The management organization system is specialized and farmers in small scale form complex and farmers in large scale are integrated.

• Journal of the Korean Institute of Landscape Architecture
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• v.42 no.4
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• pp.30-36
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• 2014

This study was conducted to determine the causes of unreasonable prices and small numbers of azalea cultivars by analyzing the price trends and the number of azalea cultivars announced over the last 25 years based on data from the Public Procurement Service(PPS), Korea Price Research Center and the Landscaping Tree Association(LTA)(hereinafter, officially announcing agencies and organizations) which are major references used when landscape planting is decided. The prices of azalea cultivars announced by the official announcing agencies and organizations have moved in similar patterns over the past 25 years because the prices of azalea cultivars announced by the LTA were referred to by other official announcing agencies and organizations when they officially announced the prices of azalea cultivars. The PPS set lower officially fixed prices of azalea cultivars compared to other official announcing agencies and organizations, and the reason for this is considered to be the intention of the PPS to suppress landscape tree price increases because of the government's policies to suppress price increases. The prices of azalea cultivars seem to change rapidly due to the imbalance between the demand and supply of azalea cultivars rather than the effects of consumer price fluctuation rates because the production periods of azalea cultivars are shorter when compared to other landscape trees. The prices of azalea cultivars from the official announcing agencies and organizations have been set higher than the prices in actual transactions. The reason for this is considered to be the intention of the official announcing agencies and organizations to allow landscaping companies to cover defect costs resulting from the practice of subcontracting planting work and secure profits of subcontractors for planting work. The official announcing agencies and organizations have simply announced prices of 5~8 main azalea cultivars that have been used in the past. The names of azalea cultivars being cultivated and criteria for classification have not been clear; thus, landscape designers have not written clear names of azalea cultivars to be cultivated on planting drawings as practice and landscapers planted those azalea cultivars which could be easily obtained. Therefore, it is assumed that there has been no demand for new azalea cultivars. Thus, the vicious circle in which the prices of only those azalea cultivars that were produced in the past have been announced is repeated.

• 한국산학경영학회:학술대회논문집
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• 2004.11a
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• pp.55-72
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• 2004

Before 2003 the companies In Korea should capitalize the interest expenses that are attributable to the acquisition, construction or production of a qualifying assets. However, according to the revised standard which should be applied from 2003, the companies can either capitalize the interest expenses or recognize as an expense when they are incurred. Therefore almost all the companies confronted with the decision making of accounting choices on the interest capitalization. This paper empirically examines which financial characteristics of the companies affect the accounting choice by using logistic regression model and reviews the sufficiency of the foot notes disclosures regarding the capitalized interest. The variables of the financial characteristics are change of debt-equity ratio, borrowing ratio, qualifying assets ratio, firm sire and income smoothing. The results of this study are summarized as follows. First, among the financial characteristics, only qualifying asset ratio has the significant difference between capitalized companies and expensing companies. Second, the results of logistic regression indicate that qualifying asset ratio and firm size have the significant influence on the accounting choices. Therefore, I cannot find the evidence supporting that the companies use the accounting choice to manage the financial ratios.

• Journal of Venture Innovation
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• v.2 no.2
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• pp.95-115
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• 2019

In the context of today's business environment, not only is the nation or company's credit rating considered very important in our recent society, but it is also becoming important in international transactions. Likewise, at this point of time when the importance and reliability of credit evaluation are becoming important at home and abroad, this study analyzes financial ratios related to corporate profitability, safety, activity, financial growth, and profit growth to study the impact of financial indicators on enterprise value and corporate taxes on credit evaluation. To proceed with this, the financial ratio of 465 companies of KOSPI securities listed in 2017 was calculated and the impact of enterprise value and corporate taxes on credit evaluation was analyzed. Especially, this further study tried to derive a reliable and consistent conclusion by analyzing the financial data of KOSPI securities listed companies for eight years from 2011, which is the first year of K-IFRS introduction, to 2018. Research has shown that the significance levels among variables that show the profitability, safety, activity, financial growth, and profit growth of each financial ratio were significant at the 99% level, except for the profit growth. Validation of the research hypothesis found that while the profitability of KOSPI-listed companies significantly affects corporate value and income tax, indicators such as safety ratio and growth ratio do not significantly affect corporate value and income tax. Activity ratio resulted in significant effects on the value of enterprise value but not significant impacts on income taxes. In addition, it was found that the enterprise value has a significant effect on the company's credit and corporate income taxes, and that corporate income taxes also have a significant effect on the corporate credit evaluation, and this also shows that there is a mediating function of corporate tax. And as a result of further study, when looking at the financial ratio for eight years from 2011 to 2018, it was found that two variables, KARA and LTAX, are significant at a 1% significant level to KISC, whereas LEVE variables is not significant to KISC. The limitation of this study is that credit rating score and financial score cannot be said to be reliable indicators that investors in the capital market can normally obtain, compared to ranking criteria for corporate bonds or corporate bills directly related to capital procurement costs of enterprise. Above all, it is necessary to develop credit rating score and financial score reflecting financial indicators such as business cash flow or net assets market value and non-financial indicators such as industry growth potential or production efficiency.

• Journal of Sericultural and Entomological Science
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• v.53 no.1
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• pp.12-18
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• 2015

This study was conducted to consider practical use of F2 hybrid and intervariety crossing for the improvement of silkworm eggs export and silkworm eggs manufacture. Now Kumokjam and Baegokjam come into wide use to sericulture farmers but comparison test of F1, F2 hybrid and intervariety have not been done. We weighed against the productivity among economical character. While larval period of F2 among them is most long time, pupation percentage and cocoon yield per 10,000 3rd molted larvae are lower than intervariety. With comparing F2 and intervariety, single cocoon weight of F2 is lower 9 ~ 21% than intervariety, and cocoon shell weight of F2 was lower 10 ~ 18% than intervariety. By number of cocoons per liter, F2 hybrid was lower and more irregular size than intervariety. In coparison with number of egg laid, F2 hybrid Baegokjam was 655 ea (14%) and Kumokjam 625 ea (40%) more than F1 hybrid. Also, F2 hybrid for filament grade went down than F1 hybrid. The advantage of egg production in F2 hybrid can reduce costs because there is no necessity for sex discrimination and germination control. But besides increase of number of egg laid, the productivity including economical characters was greatly lowered. Except for being a lot of laying eggs, cocoon productivity of the F2 was greatly reduced by degeneration of practical traits. Therefore the further studies are needed in order to increase utilization value of the F2 hybrid silkworm.

• Journal of Labour Economics
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• v.24 no.3
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• pp.13-38
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• 2001

The question about whether a shorter workweek may increase employment has been a serious issue and been furiously debated among collective bargainers. The advocators recommend publicly that a reduction in standard working hours will provide benefits to the unemployed through the provision of new jobs, and also can improve the quality of life workers. The opponents argue that a shorter workweek will increase labor costs and induce firms to reduce their production levels, and consequently cut back their demand for labor. Although the debate is still continuing, considerable has been made toward achieving the goal workweek reduction. The analytical framework of this paper is a Putty-clay-model, in which the short-and long-term impacts of changes in working time on the employment associated with the interrelations of wages, prices, hourly labour productivity, the firm's labor demand, business cycle and economic growth etc. must be analyzed.

• Journal of Applied Tourism Food and Beverage Management and Research
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• v.8
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• pp.89-121
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• 1997

Many of the measures and policies advocated by supply-siders, such as lower taxation, less government intervention, more freedom from restrictive legislation and regulation, and the need for increased productivity can be found in writing the classical economist. Nor is supply-side economics a complete divorcement from Keynesian analysis. In both camps the objectives are the same-high level employment, stable prices and healthy economic growth, the means or suggestions for attaining the objectives, however, differ. Consequently, recommended economic policies and measures are different. keynesians rely primarily on the manipulation of effective demand to increase output and employment and to combat inflation. They assume ample resources to be available in order that supply will respond to demand. The supply-siders emphasize the need to increase savings, investment, productivity and output as a means of increasing income. Supply-siders assume that the increase in income will lead to an increase in effective demand. Keynesians suggest that savings, particularly those not invested, dampen economic activity. Supply-siders hold that savings, or at least an increase in after-tax income, stimulates work effort and provides funds for investment. Perhaps keynesians are guilty of assuming that most savings are not going to be invested, whereas supply-siders may erroneously assume that almost all savings will flow into investment and/ or stimulate work effort. In reality, a middle ground is possible. The supply-siders stress the need to increase supply, but Keynes did not preclude the possibility of increasing economic activity by working through the supply side. According to Keynes' aggregate demand-aggregate supply framework, a decrease in supply will increase output and employment. It must be remembered, however, that Keynes' aggregate supply is really a price. Lowering the price or cost of supply would there by result in higher profit and/ or higher output. This coincides with the viewpoint of supply-siders who want to lower the cost of production via various means for the purpose of increasing supply. Then, too, some of the means, such as tax cuts, tax credits and accelerated depreciation, recommended by suply-siders to increase productivity and output would be favored by Keynesians also as a means of increasing investment, curbing costs, and increasing effective demand. In fact, these very measures were used in the early 1960s in the United State during the years when nagging unemployment was plaguing the economy. Keynesians disagree with the supply-siders' proposals to reduce transfer payments and slow down the process of income redistribution, except in full employment inflationary periods. Keynesians likewise disagree with tax measures that favored business as opposed to individuals and the notion of shifting the base of personal taxation away from income and toward spending. A frequent criticism levied at supply-side economics is that it lacks adequate models and thus far has not been quantified to any great extent. But, it should be remembered that Keynesian economics originally was lacking in models and based on a number of unproved assumptions, such as, the stability of the consumption function with its declining marginal propensity to consume. Just as the economic catastrophe of the great depression of the 1930s paved the way for the application of Keynesian or demand-side policies, perhaps the frustrating and restless conditions of the 1970s and 1980s is an open invitation for the application of supply-side policies. If so, the 1980s and 1990s may prove to be the testing era for the supply-side theories. By the end of 1990s we should have better supply-side models and know much more about the effectiveness of supply-side policies. By that time, also, supply-side thinking may be more crystallized and we will learn whether it is something temporary that will fade away, be widely accepted as the new economics replacing Keynesian demand analysis, or something to be continued but melded or fused with demand management.

• Information Systems Review
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• v.11 no.1
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• pp.161-179
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• 2009

Nowadays an increasing number of Internet users are running individual websites as Blog or Cyworld. As this type of personal media has a great influence on communication among people, business comes to care about Network Effect, Network Software, and Social Network. For instance, Cyworld created the web service called 'Minihompy' for individual web-logs, and acquired 2.4milion users in 2007. Although many people assumed that the popularity of Minihompy, or Blog would be a passing fad, Cyworld has improved its service, and expanded its Network with various contents. This kind of expansion reflects survival efforts from infinite competitions among ISPs (Internet Service Provider) with focus on enhancing usability to users. However, Cyworld's Network Effect is gradually diminished in these days. Both of low production cost of service vendors and the low searching/conversing costs of users combine to make ISPs hard to keep their market share sustainable. To overcome this lackluster trend, Cyworld has adopted new strategies and try to lock their users in their service. Various efforts to improve the continuance and expansion of Network effect remain unclear and uncertain. If we understand beforehand how a service would improve Network effect, and which service could bring more effect, ISPs can get substantial help in launching their new business strategy. Regardless many diverse ideas to increase their user's duration online ISPs cannot guarantee 'how the new service strategies will end up in profitability. Therefore, this research studies about Network effect of Cyworld's 'Minihompy' using System-Dynamics method which could analyze dynamic relation between users and ISPs. Furthermore, the research aims to predict changes of Network Effect based on the strategy of new service. 'Page View' and 'Duration Time' can be enhanced for the short tenn because they enhance the service functionality. However, these services cannot increase the Network in the long-run. Limitations of this research include that we predict the future merely based on the limited data. We also limit the independent variables over Network Effect only to the following two issues: Increasing the number of users and increasing the Service Functionality. Despite of some limitations, this study perhaps gives some insights to the policy makers or others facing the stiff competition in the network business.