• Title/Summary/Keyword: Recession

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Is BTC Oil Pipeline Good or Bad for Azerbaijan Economy? (BTC 파이프라인이 아제르바이잔 경제에 미치는 영향 분석)

  • Hwang, Yun Seop;Kim, Soo Eun;Choi, Young Jun
    • Environmental and Resource Economics Review
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    • v.19 no.2
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    • pp.413-440
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    • 2010
  • Since 2000, as importance of sourcing energy emphasized caused by instability of international oil price, interests toward Caspian countries as an alternative markets has increased. Especially, Azerbaijan, as middle Asian emerging exporting country, has performed drastic economic boom because of massive amount of foreign capital flowed in and construction of BTC pipeline. However, despite this economic surge, there are unbalanced economy which is merely focusing on energy industry and pressure from increase in real exchange rate and inflation. In order to analyze the sustainability of Azerbaijan economy, the total sample time period of this paper is from January 2001 to December 2007 and the term is divided into before and after BTC line construction. Vector Error-Correction Model has been applied to analysis confirming short-term and long-term effect. As a result, Azerbaijan now face the symptoms of the recession during the time period and this is due to high oil price and increase in export influenced by BTC oil pipeline resulting in decrease in real interest rate. This conclusion is to affect competitiveness of manufacturing industry, base industry for economic proliferation, in a negative way.

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Youth Startup Firms: A Case Study on the Survival Strategy for Creating Business Performance (청년창업기업의 창업초기 생존전략 : 중진공 청년전용자금 활용기업 사례)

  • Lee, Seung-Chang;Lim, Won-Ho;Suh, Eung-Kyo
    • Journal of Distribution Science
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    • v.12 no.6
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    • pp.81-88
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    • 2014
  • Purpose - Entrepreneurship promotion is emerging as an important economic growth agenda. However, in Korea, entrepreneurship has weakened because of the collapse of the venture bubbles of the 2000s and the global economic recession in 2008, which have induced the business community to choose stability over risk. The Korean government has been implementing several support projects to inspire and promote youth entrepreneurship through various means including financial assistance; however, the perpetuation rate of young entrepreneurship is still low as compared to advanced economies such as the US and EU. This case study focuses on the Youth Start-Up Business Support Program of the Small & Medium Business Corporation, and explores practical alternatives. Further, it aims to suggest managerial factors and a conceptual model for change management factors affecting the business performance creation of a startup company, based on the Small and medium Business Corporation's young venture startup fund. Research design, data, and methodology - Many studies examine the current progress and issues of startup firms, for example, a lack of systematic cultivation of entrepreneurship and startup business training, lack of commercialization funding for youth startup businesses, lack of mentoring, and inadequate infrastructure. From prior research, we address four factors, namely, personal managerial capabilities, innovative business model, sufficient cash flow, and social network, affecting startup companies' business performance. This study involved a sample survey of 200 young entrepreneurs to investigate casual relations between the four factors and business performance. A regression analysis was used to verify the hypotheses. Results - First, in relation to differences in the founder's personal characteristics, age, sales amount, and number of employees significantly impact business performance. Second, regarding the causal relation between the four factors for creating business performance, an innovative business model and social networking have supported the hypotheses, revealing that the more that a start-up founder has an innovative business model and social networking, the more the start-up firms are likely to have better performance (e.g., sales volume, employment, ROE, ROI, etc.). Although the founder's competency and sufficient cash flow have no significant relationship with business performance, the mean value was higher performance for high founder's competency and sufficient cash flow. Conclusions - This study provides basic data on policy support strategies of the Small and Medium Business Corporation, to help young entrepreneurs achieve their start-up business goals. It shows that young entrepreneurship startup firms should strive to explore ideas to satisfy customers' needs, and that changes in customer value and the continuous innovation of business model differentiation are required to actively respond to change management. Moreover, at the infant startup stage, they should activate social network programs to share information, thereby offsetting resource scarcity and managing business risk. Further, the establishment of a long-term vision and the implementation of training programs in related specific fields should be supported to strengthen founders' personal capabilities.

Micro Enterprise Policy to Reduce Trade Conflict Due to SSM Enter Restriction : An Empirical Analysis on the Determinants of Micro Enterprise Organization (SSM 진출규제에 따른 국제통상마찰 완화를 위한 소상공인 정책방향 : 소상공인 조직화 결정요인 실증분석)

  • Jun, In-Woo;Moon, Sun-Ung
    • International Commerce and Information Review
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    • v.13 no.1
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    • pp.245-270
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    • 2011
  • It is known that weak competitiveness of micro enterprises can be overcome when they are organized with enterprise associations, franchise systems, and joint affiliation. In this paper, we empirically analyze the determinants of organization of micro enterprises, and propose the policy implementations to enhance the competitiveness of micro enterprises as a measure to reduce trade conflict due to SSM entry restrictions. Logit estimation results based on survey data consisted of 467 samples, show that insufficient labor force and high material costs had negative effects on organization. The unexpected findings generally support the rationale that organization is not helpful to solve insufficient labor force and high material costs. However, the decrease in sales due to the economic recession and the decreasing number of customers due to customer transition to large enterprises had a more positive effect on organization than usually expected. There are differences in estimation results between two types of business(restaurants and retail). In case of the restaurant business, insufficient labor force, high material costs and a decreasing of number of customers are important factors for organization, while the sales decrease is a relatively important factor in the case of retail businesses.

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Success Factors of German Mittelstand as a Role Model for Korean Exporting SMEs (한국 수출중소기업 롤 모델로서 독일 미텔슈탄트의 성공요인 분석)

  • Hong, Song-Hon
    • International Commerce and Information Review
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    • v.15 no.4
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    • pp.341-366
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    • 2013
  • The term, Mittelstand, has no exact english translation for the definition, but, today, Mittelstand refers to small and medium-sized enterprises(SME), mostly family-owned firms in Germany. The Mittelstand is called the backbone of the German economy because it drove the economic miracle after World War II. During the global recession and the euro zone's debt crisis in recent years, in which european businesses have faced the near-collapse of competitiveness particularly in manufacturing, the German exports are booming and exceeded exports of China in 2012. Most importantly, the Germany economic performance has been widely attributed to the strength of the Mittelstand. Many of countries, even some leading public companies are seeking to emulate the success of the Mittelstand. Investors evaluate that many of Germany's investable "hidden champions" are Mittelstand companies. The purpose of this study is to present some of answers to the following questions: Firstly, what makes the German Mittelstand so successful? Secondly, what does the success of the German Mittelstand mean for the Korean SMEs in global competitiveness? Thirdly, what Korean government has to do improve the global competitiveness of the Korean SMEs? Some discussions in this study mention the managerial implications for Korean exporting SMEs particularly in manufacturing. Several factors that account for the success of the German Mittelstand are technological excellence and the tradition of family-owned management, concentration on niche market and globalization, and institutional supports. There are some of important lessons to be learned from the German Mittelstand. If the purposes of Korean SMEs want to remain in the sustainable competitive advantage and withstand unforeseen economic turbulences in the future, they must be able to meet the followings: 1) Technology that meets the global standard or exceeding it 2) Competitiveness in price in the global market 3) Active involvement in the globalization process, utilizing various entry modes Innovative products at globally competitive price are a crucial point for Korean exporting SMEs to achieve their competitive edge over others in the target markets abroad. It is time for Korean SMEs to cultivate a core competence in manufacturing in order to position Korea as a global manufacturing hub with SMEs leading.

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Effects of mixture of fibrin-fibronectin sealant system and calcuim carbonate in periodontal intrabony defects (calcium carbonate와 fibrin-fibronectin sealant system 혼합이식이 치주골내낭 치유에 미치는 영향)

  • Chang, Soo-Jin;Han, Dong-Kwan;Yun, Jeong-Ho;Jung, Ui-Won;Kim, Chang-Sung;Choi, Seong-Ho;Cho, Kyoo-Sung;Kim, Chong-Kwan;Chai, Jung-Kiu
    • Journal of Periodontal and Implant Science
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    • v.34 no.3
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    • pp.581-591
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    • 2004
  • Calcium carbonate(CC) is biocompatible and gradually absorb to be replaced by bone when implanted into bone tissue. Fibrin-fibronectin sealant system (FFSS) is a product of human-derived plasma. The effect is hemostasis, tissue fixation and adhesion, We expect synergic effects of this two materials in periodontal regeneration. When FFSS was grafted with bone graft in intrabony defects, could be eliminated exofolication of bone graft materials. This study evaluated above materials for periodontal regeneration of 6mm intrabony defects in 36 patients. lap surgery was carried in 14 defects of control group. experimental group 1 was 11 defects grafted with calcium carbonate, experimental group 2 was 11 defects which were grafted with calcium carbonate with FFSS. The clinical parameters evaluated included changes in attachment level, probing depth, gingival recession at 6 months. Postsurgery probing depth reduction was 3.1 ${\pm}$ 0.9mm in control, 3.8 ${\pm}$ 1.6mm in experimental group 1, 4.1 ${\pm}$ 1.1mm in experimental group 2. The result clinically and statistically improved compared to baseline(P<0.01), but the difference found among the groups were not statistically significant. Postsurgery clinical attachment level was 1.6 ${\pm}$ 1.2mm in control, 3.5 ${\pm}$ 2.0mm in experimental group 1, 3.3 ${\pm}$ 1.2mm in experimental group 2. All of the control and experimental groups resulted in a statistically significant reduction from baseline(P<0.01). The reduction of the experimental groups were statistically significant from control(P<0.05). But the change between experimental group 1 and experimental group 2 was not statistically significant. We conclude that mixture of CC and FFSS is effective to periodontal regeneration in intrabony defect.

Evaluation of interleukin-$1{\beta}$ and 8 in gutka chewers with periodontitis among a rural Indian population

  • Jacob, Pulikottil Shaju;Nath, Sonia;Patel, Ritu Prabha
    • Journal of Periodontal and Implant Science
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    • v.44 no.3
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    • pp.126-133
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    • 2014
  • Purpose: Smokeless tobacco-based oral-use products like gutka are popular in India. Gutka usage leads to increased periodontal destruction and inflammation; however, the relevant mechanism remains unknown. This study aimed to elucidate the role of gutka in periodontitis by examining its effect on the levels of interleukin (IL) $1{\beta}$ and IL-8 from the gingival crevicular fluid (GCF). Methods: A total of 45 patients were enrolled in this study. Thirty patients with periodontitis (15 gutka chewers [GCP] and 15 nongutka chewers [NGC]) and 15 periodontally healthy controls (HC) were selected. The full-mouth plaque index (PI), gingival index (GI), probing depth (PD), clinical attachment level (CAL), and recession (RC) were recorded. The IL-$1{\beta}$ and IL-8 levels in the GCF of all subjects were assessed through an enzyme-linked immunosorbent assay (Quantikine). Results: The IL-$1{\beta}$ and IL-8 levels were not significantly higher in the GCP group (IL-$1{\beta}$, $369.01{\pm}273.44{\mu}L$; IL-8, $205.97{\pm}196.78{\mu}L$) as compared to those in the NGC group (IL-$1{\beta}$, $195.57{\pm}96.85{\mu}L$; IL-8, $178.61{\pm}149.35{\mu}L$). More gingival RC and loss of attachment was seen among the GCP group (RC: $2.02{\pm}0.31$, P=0.013; CAL: $4.60{\pm}0.56$, P<0.001) than among the NGC group (RC, $1.21{\pm}1.15$; CAL, $3.70{\pm}0.32$); however, PD was deeper among the NGC subjects (P=0.002). PI and GI were significantly higher for the periodontitis group (P<0.001) when compared to the HC, but there was no difference among gutka chewers and non-chewers (P=0.22 and P=0.89). A positive correlation was found between the IL-8 levels and the duration of gutka chewing (r=-0.64, P<0.01). Conclusions: Gutka chewing leads to increased gingival RC and clinical loss of attachment. There was no effect seen in the proinflammatory cytokine levels in the GCF of gutka users.

A Study on the History of Geography in China: 1909~1978 (학회.학과.연구소를 중심으로 본 중국지리학사: 1909~1978)

  • Lee, Kang-Won
    • Journal of the Korean Geographical Society
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    • v.48 no.3
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    • pp.417-432
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    • 2013
  • The purpose of this paper is to investigate the history of geography in China from 1909 when the Chinese Geographical Society(zhonguo dixuehui) was established to 1978 when the reform and open policy was initiated. The investigation was done with an emphasis on the history of institutions like academic societies, university departments and institutes. Before the PRC's establishment, the Chinese Geographical Society, the Chinese Historical Geography Society(yugong xuehui) and the Geographical Society of China(zhongguo dili xuehui) were established. After the PRC's establishment, however, the academic societies were merged together. The first university department of geography was that of Dongnan university(Nanjing university) established by Zu Kezhen in 1921. Since that Zhongshan university, Zhejiang university, Qinghua university, Beijing normal university and Beijing university established the geography departments. In 1950s the academic societies and university departments experienced the restructuring of organization and the Institute of Geography in Chinese Academy of Science was established. At that time the task of geography imposed by PRC was to serve to agricultural production and to introduce advanced Soviet science. From the beginning of the Cultural Revolution in 1966 to the eve of reform and open policy in 1978, the geography in China has experienced some deep recession. The reform and open policy was a new opportunity and crisis to geographers in China.

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A Study on International Engineering Market Focusing on Engineering/Consulting Delivery System (엔지니어링 해외진출 활성화를 위한 유망국가 분석 - 시장 현황 및 입낙찰 절차를 중심으로 -)

  • Kim, Sang-Bum;Kwak, Hyun-Jun
    • Korean Journal of Construction Engineering and Management
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    • v.14 no.2
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    • pp.171-183
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    • 2013
  • Domestric Construction & Engineering market has been long in recession due to the global economic crisis. Domestic construction industries consequently looks at overseas construction markets where relatively more construction projects are constantly required. In order to provide meaningful information for Korean engineering companies to keep the pace with the changes in the construction industry, various construction related date and statistics are analyzed. In addition, previous research from the related organizations and construction engineering companies are closely reviewed. Investigation of preliminary data and research have been conducted to draw remedies for their overseas expansion. Moreover, it is attempted to classify foreign markets as the Asia, Africa and etc. (Europe, North America/the Pacific and Latin America) to provide the list of first target countries and its regional market information focusing on their bidding system. This study had tried to show comparative analysis of different bidding procedures between Korea and the selected countries to suggest measures of improvements for the domestic bidding system. Finally, this study suggested policy recommendations to meet the requirement of bid qualification to advance the global market that was suggested with validated clustering bidding data.

A study on the Activation Schemes of Cold Chain Logistics System in Incheon Port (인천항 콜드체인 물류체계 활성화 방안에 관한 연구)

  • Kim, Hong-seop;Shang, Yufei
    • Journal of Korea Port Economic Association
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    • v.35 no.3
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    • pp.19-40
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    • 2019
  • Ports have been facing the adverse impacts of the global recession. In terms of imports, with a vast consumption hinterland, the Incheon Port has developed as the metropolitan's gateway. Additionally, the port's exports to China has been increasing due to a consistent increase in the demand of cold chain foods in the country. Considering the short distance between the Incheon Port and the ports in Northern China, the Incheon Port can serve as a logistics hub and a distribution center for exporting processed foodstuffs to China. The establishment of a cold chain logistics system at the Incheon Port will prove to be a robust strategy. After reviewing studies and interviews from various departments, this study suggested strengths, weaknesses, opportunities, and threats (SWOT) facing the Incheon Port, based on a SWOT analysis; it also recommended competitive strategies for the port. Additionally, the study used the analytic hierarchy process (AHP) to identify important factors such as the infrastructural, operational, cost, and technology factors. This study identified the infrastructural factor to be highly critical to the activation of the Incheon Port's cold chain system. Based on the results, the study proposed policies and strategy directions.

Clinical features of the gingiva according to maxillary anterior teeth form in adult (성인 상악 전치 형태에 따른 치은의 임상적 소견)

  • An, Chi-Hyun;Heo, Soo-Rye;Cho, Ik-Hyun;Kim, Hyung-Seop
    • Journal of Periodontal and Implant Science
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    • v.35 no.2
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    • pp.359-369
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    • 2005
  • It has been suggested that morphologic characteristics of the periodontium are partly related to the shape and form of the teeth. Furthermore, the severity of symptoms of periodontal disease have been proposed to differ among these various morphologic entities or "biotypes". The purpose of the present study was to examine the relationship between the form of the crowns in the maxillary anterior tooth segment and (1) a group of morphological characteristics and (2) the thickness of the gingiva. The thickness of gingiva was measured by ultrasonic device(SDM). 100 subjects devoid of symptoms of destructive periodontal disease were examined regarding, e.g., probing depth, gingival recession, width of keratinized gingiva, thickness of the keratinized gingiva. From maxillary study cast, the width(at the apical third-CW) and the length(CL) of the crowns of the 6 anterior teeth were determined. A CW/CL-ratio was calculated for each tooth and averaged for each tooth region. The individual mean CW/CL-ratio values for the central incisors were ranked. The 10 subjects ranked highest and the 10 ranked lowest were selected as having either a long-narrow(group N) or a short-wide(group W) form of the crown of the tooth. The data for each of the examined parameters were averaged for each tooth region in each subject and mean values for subjects in groups W and N were compared using the Student t-test. Stepwise multiple regression analysis, including data from the whole sample, was performed for each tooth region with the thickness of the free gingiva as the dependent variable. The results from the analyses demonstrated that individuals with a long-narrow form of the central incisors displayed, compared to individuals with a short-wide crown, form (l) a narrow zone of keratinized gingiva, (2) a pronounced "scalloped" contour of the gingival margin. There was no significant difference between groups N and W with respect to the thickness of the keratinized gingiva. The CW/CL-ratio data revealed that a certain form of the crowns in the central incisors was accompanied by a similar form in the lateral incisors and canine tooth region. The regression analyses demonstrated that the thickness of the keratinized gingiva in central, lateral incisors and canines was significantly related to the width of the keratinized gingiva.