• Journal of Distribution Science
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• v.17 no.3
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• pp.85-95
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• 2019

Purpose - The existing marketing studies using Social Network Analysis have assumed that network structure variables are time-invariant. However, a node's network position can fluctuate considerably over time and the node's network structure can be changed dynamically. Hence, if such a dynamic structural network characteristics are not specified for virtual goods purchase model, estimated parameters can be biased. In this paper, by comparing a time-invariant network structure specification model(base model) and time-varying network specification model(proposed model), the authors intend to prove whether the proposed model is superior to the base model. In addition, the authors also intend to investigate whether coefficients of network structure variables are random over time. Research design, data, and methodology - The data of this study are obtained from a Korean social network provider. The authors construct a monthly panel data by calculating the raw data. To fit the panel data, the authors derive random effects panel tobit model and multi-level mixed effects model. Results - First, the proposed model is better than that of the base model in terms of performance. Second, except for constraint, multi-level mixed effects models with random coefficient of every network structure variable(in-degree, out-degree, in-closeness centrality, out-closeness centrality, clustering coefficient) perform better than not random coefficient specification model. Conclusion - The size and importance of virtual goods market has been dramatically increasing. Notwithstanding such a strategic importance of virtual goods, there is little research on social influential factors which impact the intention of virtual good purchase. Even studies which investigated social influence factors have assumed that social network structure variables are time-invariant. However, the authors show that network structure variables are time-variant and coefficients of network structure variables are random over time. Thus, virtual goods purchase model with dynamic network structure variables performs better than that with static network structure model. Hence, if marketing practitioners intend to use social influences to sell virtual goods in social media, they had better consider time-varying social influences of network members. In addition, this study can be also differentiated from other related researches using survey data in that this study deals with actual field data.

• International Area Studies Review
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• v.13 no.3
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• pp.213-238
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• 2009

This paper empirically examines effects of exporting on employment over the period 2000-2007 for Korean listed and non-listed manufacturing firms. The paper employs the dynamic panel model of labor demand and controls for simultaneity of the exports and real wages using a two step random effect Tobit-DPD (Dynamic Panel Data) procedure. Our empirical results suggest that surprisingly, there is no robust evidence for employment effects of exporting of Korea's large firms and small-medium sized firms during the sample period after Korean financial crisis. This implies that Korean exporting patterns have been changed in a way that exporting highly capital intensive goods leads to importing more intermediate goods and thus to countervailing the employment effects of exporting. This suggests that expansion of exporting by lowering exporting prices through the bilateral FTA might not be helpful to enhancing employment in Korea.

• Korean Journal of Social Welfare
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• v.68 no.4
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• pp.53-74
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• 2016

In this study, to verify influence that economic situations of a household unit have on donation behavior, after economic situations of a household unit were measured with income and assets by type and income to assets, effect which each variable has on secular giving was verified. This study used 3-year panel data of a total of 4,938 households based on the fifth to seventh year data as investigation data from 2012 to 2014 among data of financial panel investigation of Korea Institute of Public Finance of National Survey of Tax and Benefit. As an analysis method, a random effect tobit model was used. At the analysis result, it appeared that as scales of financial assets, earned income, property income, and transfer income become larger, the amount of donation increased. Also, it was represented that rates of income to assets had negative influence on secular giving. In case of demographic variables, education levels of householders and sizes of houses had relation of a positive direction. In case of ages, it appeared that they had inverted U-type relation. This study has meanings in that understanding of donation behavior of a household unit can be increased and expanded more and also implications related to intervention strategies of a household unit to expand sharing culture can be extracted by verifying influence which economic factors of a household unit have on donation behavior based on panel data.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.3
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• pp.895-904
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• 2021

This study aims to investigate the impact of innovation on firm efficiency. Panel data of fourteen finance companies and nine technology companies from 2011 to 2019 on the Vietnam Stock Exchange Market is derived from audited financial statements, annual reports, and other crucial reports that are provided by Vietstock; macroeconomic variables are collected from the World Bank Database. A two-stage approach is used. First, use of the Data Envelopment Analysis methodology to measure firm efficiency. Second, use of the Pooled ordinary least squares, the Fixed effects model, and the Random effects model to investigate the impact of innovation on firm efficiency. Furthermore, the Generalized Method of Moments and the Tobit model are used to validate the impact of innovation on firm efficiency, and the t-test is used to confirm the difference in efficiency with and without the impact of innovation between two industries. The results show that there is a significant impact of innovation on efficiency, and innovation plays a more important in increasing the efficiency of the finance industry than the technology industry. Moreover, the relation between age and efficiency is like the U-shaped, and between size and efficiency is like the inverted U-shaped, whereas efficiency is not associated with inflation.

• Journal of Korea Trade
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• v.24 no.7
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• pp.29-37
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• 2020

Purpose - This paper empirically investigates the relationship between country governance quality and worker remittances from foreign countries. Because remittances can be a source of funds for economic development and smoothing economic crises in developing countries, the related topic has been a concern for policy-makers and academic researchers. This paper divides the motives of remittances into altruistic and investment motives through existing papers, and then considers the governance quality the remittance receiving country as one of the determinants of remittances. Design/methodology - Our empirical model considers whether governance quality can affect the volume of remittances, and uses altruistic and investment factors studied in the literature. To do this, a two-step approach is taken. First, the panel data are examined via pooled OLS, random effects, and Tobit estimation. Second, the paper reduces six governance indicators into one variable, Governance, using the principal component technique (PCA) for a robustness check. Findings - The main findings can be summarized as follows. The negative governance variable in the estimation results shows a lower governance quality that induces workers to send savings to their home countries. This means that a country with poor governance quality seems to have more remittance inflows from abroad. It also reveals that poor governance quality is more relevant to an altruistic motive rather than an investment motive, in general. The positive per capita GDP variable shows the investment motive for developed countries. Originality/value - Existing papers have focused on various factors related to the motives of remittances. However, governance quality effects on remittance inflows have not been fully studied so far. This paper considers governance quality in an estimation equation explicitly as one of the determinants of remittances. This area of study is needed, in theory and empirically, in order to fully understand the relationship between governance and remittances.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.5
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• pp.291-304
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• 2020

This paper examines the factors that drive temporal income diversification in rural areas of the Mekong River Delta in Vietnam, based on a framework that conceptualized diversification as a function of a household's capacity to diversify and incentives (both push and pull factors) to diversify. Drawing from five rounds of the Vietnam Living Standard Measurement Surveys covering a 13-year span (1993-2006), two panel datasets made from five cross-sectional samples are used for the analyses. The data are drawn from the Vietnam General Statistics Office. Both tobit model and Ordinary Least Squares model with random and fixed effects are applied. The main points emerging from the analysis is that income diversification is strongly influenced by household labor capacity. The relationship between household labor capacity and increasing insertion in non-farming wage activities is not driven by unobserved time-invariant factors such as household ability and motivation, but is instead driven by the higher labor capacity of households. In terms of the other household capacity variables, the effect of farm size is much larger in terms of retaining households in traditional occupations as compared to pushing them towards non-farm wage employment. Other variables such as household access to financial capital do not play an important role.