• Journal of Technology Innovation
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• v.17 no.1
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• pp.1-48
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• 2009

Recently we have found some symptoms that R&D fiscal incentives might not work well what it has intended through the analysis of current statistics of firm's R&D data. Firstly, we found that the growth rate of R&D investment in private sector during the recent decade has been slowdown. The average of growth rate (real value) of R&D investment is 7.1% from 1998 to 2005, while it was 13.9% from 1980 to 1997. Secondly, the relative share of R&D investment of SME has been decreased to 21%('05) from 29%('01), even though the tax credit for SME has been more beneficial than large size firm, Thirdly, The R&D expenditure of large size firms (besides 3 leading firms) has not been increased since late of 1990s. We need to find some evidence whether fiscal incentives are effective in increasing firm's R&D investment. To analyse econometric model we use firm level unbalanced panel data for 4 years (from 2002 to 2005) derived from MOST database compiled from the annual survey, "Report on the Survey of Research and Development in Science and Technology". Also we use fixed effect model (Hausman test results accept fixed effect model with 1% of significant level) and estimate the model for all firms, large firms and SME respectively. We have following results from the analysis of econometric model. For large firm: i ) R&D investment responds elastically (1.20) to sales volume. ii) government R&D subsidy induces R&D investment (0.03) not so effectively. iii) Tax price elasticity is almost unity (-0.99). iv) For large firm tax incentive is more effective than R&D subsidy For SME: i ) Sales volume increase R&D investment of SME (0.043) not so effectively. ii ) government R&D subsidy is crowding out R&D investment of SME not seriously (-0.0079) iii) Tax price elasticity is very inelastic (-0.054) To compare with other studies, Koga(2003) has a similar result of tax price elasticity for Japanese firm (-1.0036), Hall((l992) has a unit tax price elasticity, Bloom et al. (2002) has $-0.354{\sim}-0.124$ in the short run. From the results of our analysis we recommend that government R&D subsidy has to focus on such an areas like basic research and public sector (defense, energy, health etc.) not overlapped private R&D sector. For SME government has to focus on establishing R&D infrastructure. To promote tax incentive policy, we need to strengthen the tax incentive scheme for large size firm's R&D investment. We recommend tax credit for large size film be extended to total volume of R&D investment.

• The Journal of Fisheries Business Administration
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• v.34 no.2
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• pp.75-90
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• 2003

When we think of fundamental problems of the aquaculture industry, there are several strict conditions, and consequently the aquaculture industry is forced to change. Fish aquaculture has a structural supply surplus in production, aggravation of fishing grounds, stagnant low price due to recent recession, and drastic change of distribution circumstances. It is requested for us to initiate discussion on such issue as “how fish aquaculture establishes its status in the coastal fishery\ulcorner, will fish aquaculture grow in the future\ulcorner, and if so “how it will be restructured\ulcorner” The above issues can be observed in the mariculture of yellow tail, sea scallop and eel. But there have not been studied concerning seabream even though the production is over 30% of the total production of fish aquaculture in resent and it occupied an important status in the fish aquaculture. The objectives of this study is to forecast the future movement of sea bream aquaculture. The first goal of the study is to contribute to managerial and economic studies on the aquaculture industry. The second goal is to identify the factors influencing the competition between production areas and to identify the mechanisms involved. This study will examine the competitive power in individual producing area, its behavior, and its compulsory factors based on case study. Producing areas will be categorized according to following parameters : distance to market and availability of transportation, natural environment, the time of formation of producing areas (leaderㆍfollower), major production items, scale of business and producing areas, degree of organization in production and sales. As a factor in shaping the production area of sea bream aquaculture, natural conditions especially the water temperature is very important. Sea bream shows more active feeding and faster growth in areas located where the water temperature does not go below 13∼14$^{\circ}C$ during the winter. Also fish aquaculture is constrained by the transporting distance. Aquacultured yellowtail is a mass-produced and a mass-distributed item. It is sold a unit of cage and transported by ship. On the other hand, sea bream is sold in small amount in markets and transported by truck; so, the transportation cost is higher than yellow tail. Aquacultured sea bream has different product characteristics due to transport distance. We need to study live fish and fresh fish markets separately. Live fish was the original product form of aquacultured sea bream. Transportation of live fish has more constraints than the transportation of fresh fish. Death rate and distance are highly correlated. In addition, loading capacity of live fish is less than fresh fish. In the case of a 10 ton truck, live fish can only be loaded up to 1.5 tons. But, fresh fish which can be placed in a box can be loaded up to 5 to 6 tons. Because of this characteristics, live fish requires closer location to consumption area than fresh fish. In the consumption markets, the size of fresh fish is mainly 0.8 to 2kg.Live fish usually goes through auction, and quality is graded. Main purchaser comes from many small-sized restaurants, so a relatively small farmer and distributer can sell it. Aquacultured sea bream has been transacted as a fresh fish in GMS ,since 1993 when the price plummeted. Economies of scale works in case of fresh fish. The characteristics of fresh fish is as follows : As a large scale demander, General Merchandise Stores are the main purchasers of sea bream and the size of the fish is around 1.3kg. It mainly goes through negotiation. Aquacultured sea bream has been established as a representative food in General Merchandise Stores. GMS require stable and mass supply, consistent size, and low price. And Distribution of fresh fish is undertook by the large scale distributers, which can satisfy requirements of GMS. The market share in Tokyo Central Wholesale Market shows Mie Pref. is dominating in live fish. And Ehime Pref. is dominating in fresh fish. Ehime Pref. showed remarkable growth in 1990s. At present, the dealings of live fish is decreasing. However, the dealings of fresh fish is increasing in Tokyo Central Wholesale Market. The price of live fish is decreasing more than one of fresh fish. Even though Ehime Pref. has an ideal natural environment for sea bream aquaculture, its entry into sea bream aquaculture was late, because it was located at a further distance to consumers than the competing producing areas. However, Ehime Pref. became the number one producing areas through the sales of fresh fish in the 1990s. The production volume is almost 3 times the production volume of Mie Pref. which is the number two production area. More conversion from yellow tail aquaculture to sea bream aquaculture is taking place in Ehime Pref., because Kagosima Pref. has a better natural environment for yellow tail aquaculture. Transportation is worse than Mie Pref., but this region as a far-flung producing area makes up by increasing the business scale. Ehime Pref. increases the market share for fresh fish by creating demand from GMS. Ehime Pref. has developed market strategies such as a quick return at a small profit, a stable and mass supply and standardization in size. Ehime Pref. increases the market power by the capital of a large scale commission agent. Secondly Mie Pref. is close to markets and composed of small scale farmers. Mie Pref. switched to sea bream aquaculture early, because of the price decrease in aquacultured yellou tail and natural environmental problems. Mie Pref. had not changed until 1993 when the price of the sea bream plummeted. Because it had better natural environment and transportation. Mie Pref. has a suitable water temperature range required for sea bream aquaculture. However, the price of live sea bream continued to decline due to excessive production and economic recession. As a consequence, small scale farmers are faced with a market price below the average production cost in 1993. In such kind of situation, the small-sized and inefficient manager in Mie Pref. was obliged to withdraw from sea bream aquaculture. Kumamoto Pref. is located further from market sites and has an unsuitable nature environmental condition required for sea bream aquaculture. Although Kumamoto Pref. is trying to convert to the puffer fish aquaculture which requires different rearing techniques, aquaculture technique for puffer fish is not established yet.

• Knowledge Management Research
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• v.22 no.3
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• pp.273-293
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• 2021

Due to the COVID-19 pandemic, the size of the e-commerce has been increased rapidly. This pandemic, which made contact-less communication culture in everyday life made the e-commerce market to be opened even to the consumers who would hesitate to purchase and pay by electronic device without any personal contacts and seeing or touching the real products. Consumers who have experienced the easy access and convenience of the online purchase would continue to take those advantages even after the pandemic. During this time of transformation, however, the size of information source for the consumers has become even shrunk into a flat screen and limited to visual only. To provide differentiated and competitive information on products, companies are adopting AR/VR and steaming technologies but the reviews from the honest users need to be recognized as important in that it is regarded as strong as the well refined product information provided by marketing professionals of the company and companies may obtain useful insight for product development, marketing and sales strategies. Then from the consumer's point of view, if the ratings of reviews are widely diverged how consumers would process the review information before purchase? Are non-converged ratings always unreliable and worthless? In this study, we analyzed how consumer's regulatory focus moderate the attitude to process the diverged information. This experiment was designed as a 2x2 factorial study to see how the variance of product review ratings (high vs. low) for cosmetics affects product attitudes by the consumers' regulatory focus (prevention focus vs. improvement focus). As a result of the study, it was found that prevention-focused consumers showed high product attitude when the review variance was low, whereas promotion-focused consumers showed high product attitude when the review variance was high. With such a study, this thesis can explain that even if a product with exactly the same average rating, the converged or diverged review can be interpreted differently by customer's regulatory focus. This paper has a theoretical contribution to elucidate the mechanism of consumer's information process when the information is not converged. In practice, as reviews and sales records of each product are accumulated, as an one of applied knowledge management types with big data, companies may develop and provide even reinforced customer experience by providing personalized and optimized products and review information.

• Journal of the Korean Society for Railway
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• v.19 no.3
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• pp.380-387
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• 2016

Considering that the Seoul subway sector is expected to see extension of lines, addition of stations, and changes of operating companies, a review is needed to identify ways to eliminate or minimize financial deficits in its operation. As for deficits from the operation, additional businesses for extra income have been suggested as alternatives, but inasmuch as Western urban development (that of the subway containment area) may not be applicable to Korean settings, a practical alternative is to maximize income by efficient use of rental facilities that are located inside station properties. This alternative requires the estimation of appropriate facility size and rent for each station; few, however, have addressed this topic. At this juncture, this study aimed to draw an equation for estimating the sizes and rents of station properties by reflecting characteristics of lines and locations; a case study was performed for Subway Lines 5 and 6. Analytical findings are that rental facility sizes and rental incomes are affected mainly by the subway ridership and transport revenues, whereas the influence of ground-level commercial activity is relatively weak. A particularly great influence was found to be the value of apartment housing in areas through which the subway lines run. Stations on Line 5, which runs through areas of high-value housing, were assigned smaller facility sizes and higher rents than those on Line 6, which covers areas with relatively low housing value. The equation suggested in this study would make possible more practical feasibility studies when the need arises to estimate sales of new or extended facilities affiliated with stations.

• The Korean Journal of Financial Management
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• v.24 no.1
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• pp.149-182
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• 2007

This study examines the determinants of the long-run stock price performance of the firms that granted stock options between 1997 and 2002. We divide the sample into the firms run by the owner and those run by the professional manager. If the primary reason for granting stock options is reduction of the agency costs between the manager and shareholders, the effect of stock options is likely to be more pronounced in the firms run by the professional manager. We find that the long-run abnormal returns of the firms run by the professional manager are negatively associated with the shareholdings by the manager and the book-to-market value and are positively associated with the earnings growth and the size of the outstanding stock options. In contrast, the long-run abnormal returns of the firms run by the owner are negatively associated with the cash flows rate and the sales growth rate and are positively associated with the firm size. This is consistent with the argument that the agency costs arising from the conflicts between the manager and shareholders are an important determinant of the post-stock option granting long-run stock price performance only in the firms run by the professional manager. The results also suggest that stock options in the firms run by the owner are likely to be used for the purposes such as additional compensation, a signaling device, a means that reduce the agency costs within firms.

• Korean Journal of Poultry Science
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• v.22 no.3
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• pp.167-178
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• 1995

The purpose of this research was to get basic information for the development of Korean native chicken industry by reviewing the current native chicken farm management and marketing situation of native chicken products(meat and eggs). The research was carried on the basis of the farm field survey covering 210 native chicken feeders out of 9 different local areas, and the results were as follows ; 1. Average raising size of native chicken flocks of sample farms was 1,787 heads and about 50% of those farms raised less than 500 heads chickens for self-sufficiency or on the side. 2. Most farmers made the decision to start on feeding native chickens in small scale with small amount of capital without sound feeding program, and their decision was mainly influenced by recommendation of mass-media( 19.5%) and neighbors (17.2%). 3. The average income per farm earned by raising the native chickens was 13,719 Won, and income per head of chicken was 8,800 Won. 4. About 40% of feeders expressed that the poor marketing management and lack of capital were the bottleneck to native chicken farm management. 5. About 70% of feeders evaluated the prospect of native chicken industry positively and so, about 60% of feeders hoped to expand the raising size in the future. 6. Most farmers directry made a bargain with marketer including middleman and enduser in selling the chicken products because there was not established special marketing system for native chicken products. 7. The sales age of native broiler was about 16~20 weeks and average body weight of broiler was 1.5~2.0 kg. And farm recieved price was not decided on the basis of each body weight or meat quality but only number of heads. 8. The average first egg-laying age of chickens was about 165 days and average annual laying rate was only about 56%. 9. In order to develop the successful Korean native chicken industry, followings are recommended ; 1) Reducing the production costs and increasing the productivity of native chickens should be carried out through technological research and development for sound feeding program of native chickens and sufficient fund supply. 2) Orderly native chicken marketing and pricing system should be established to give good vision about native chickens to farmers and to delight the consumers. 3) The measures for product differentiation including meat quality and nutritional value of native chicken products against other improved chickens should be actively taken by feeders and government.

• Journal of Korea Port Economic Association
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• v.30 no.3
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• pp.209-230
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• 2014

The purpose of this study is to have a main change of korea logistics industry analysis and take in the whole situation and the characteristics about a logistics firms. In korean logistics industry, The rate of a carriage is among the low-level as compared with the increasingly high prices for diesel. besides, a national logistics cost and the sales in the transportation industry has increased steadily. On the other hand, the number of trucks and transfer companies has decreased steadily. This change is attributed to expansion of logistics firm size through the limit on a raise in the number of trucks and introduction of a direct consignment system. But medium and small logistics firm size is dwindling in numbers. In the meantime, 2PL since early 2000s has rapidly rose as powerful players in logistics industry by a strong Support of the parent companies. Government and academia have long noted the limit and problems of 2PL system and emphasize on the necessity of activating the 3PL system. So this study divided broadly into two groups that the primary characteristics of korea logistics industry are 2PL and 3PL. Through the results of this study, the management and financial perspectives mean that there is a considerable difference between 2PL and 3PL.

• The Journal of the Korea Contents Association
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• v.16 no.3
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• pp.676-693
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• 2016

Although the methodology and models to assess the economic value of technology assets such as patents are being presented in various ways, there does not exist a structured assessment model which enables to objectively assess a database property's value, and thus there is a need to enhance the application feasibility of practical purposes such as licensing of DB assets, commercialization transfer, security, etc., through the establishment of the valuation model and the life-cycle decision logic. In this study, during the valuation process of DB assets, the size of customer demand group expected and the amount of demand, the size and importance of data sets, the approximate degree of database' contribution to the sales performance of a company, the life-cycle of database assets, etc. will be analyzed whether they are appropriate as input variables or not. As for most of DB assets, due to irregular updates there are hardly cases their life-cycle expires, and thus software package's persisting period, ie. 5 years, is often considered the standard. We herein propose the life-cycle estimation logic and valuation models of DB assets based on the concept of half life for DB usage frequency under the condition that DB assets' value decays and there occurs no data update over time.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.21 no.3
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• pp.370-379
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• 2020

This study examined the growth characteristics and competitive advantages of Korea's tourism industry compared to other Northeast Asian countries using the Balassa Indices and Shift-Share method. The analysis results showed that the growth of Korea's tourism industry over the past decade was due mainly to external factors, such as the growth of the global economy and the expansion of the tourism sector, while the role of growth momentum of the tourism industry itself was insignificant. Employment in Korea's tourism industry has shown relatively higher increasing rates compared to the rates of the total amount of sales and value-adding. This appears to be caused by the decreased absorption of the labor force in the tourism industry due to the overall capacity of job creation. (Ed note: This sentence was unclear. Please check the edits.)The competitive advantage of Korea's tourism industry has been strengthened over the past decade, but it is still inferior to other countries. The travel account balance showed that the economic size of the Chinese tourism sector had grown rapidly over the past decade, but the competitive advantage of the sector has been weakened. On the other hand, the economic size of the Japanese tourism sector has shown sluggish growth, while its competitive advantage has been strengthened significantly.

• Journal of Korea Technology Innovation Society
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• v.20 no.2
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• pp.368-386
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• 2017

The purpose of this study is to present the technology value model based on profit approach and IITP practical guide for Ethernet network technology, which is the core technology of autonomous vehicles and connected cars in the hyper-connected industry. In-vehicle network, Ethernet technology, Ethernet port count, port pricing, and application data for technology assessment are sources of global market research organizations. The data on the company's COGS (Cost of Goods Sold), operating capital requirement, capital expenditure, and income statement data are used by the Bank of Korea's Business Analysis Report. According to the results of the study, the product market size was estimated to be US $470.3 billion and the technology market size was $52.1 billion over the seven years of economic life cycle of technology. The market value of the technology was estimated to be $260 million reflecting the possibility of entry into the market. In the case of the corporate management analysis report, the average value of the IITP and the top 25% were $0.7 million and $40.2 million, respectively. -27.8 million, and -73.6 million dollars respectively. This implies that government support for policy support is needed when conducting corporate R&D with high cost-to-sales ratio. The results of this study can be used as a reference for the evaluation of technology demand based ICT R&D technology in the industrial internet market in the fourth industrial revolution era.