• Asia-Pacific Journal of Business
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• v.11 no.3
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• pp.153-167
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• 2020

Purpose - The purpose of this study is to examine whether social value-related expenditures can be recognized as intangible assets in financial statements. Design/methodology/approach - This study examined social values defined in the economic and management fields and analyzed whether the social values have the characteristics of intangible assets. For this, the general definition of social value was derived from the concept of social value covered in previous studies. Next, we reviewed the definitions and recognition requirements for intangible assets under the current accounting standards. Based on this, we tried to suggest new criteria and disclosure methods for reporting social value-related expenditures that are not currently reported in financial statements as intangible assets in the financial statements and notes. Findings - First, as a criterion for recognizing social value-related expenditure as an intangible asset, we propose a relationship between social value-related expenditure and enterprise value. Where social value-related expenditures have a statistically significant positive impact on corporate value, they are recognized as intangible assets. If social value-related expenditures have a statistically significant negative influence on business value, or the impact of social value-related expenditures on the enterprise value is not statistically significant, it is not recognized as asset. Second, new disclosure plans are proposed according to the combination of intangible assets by category and the relevance of enterprise value. After dividing social value-related expenditures into separate intangible asset categories, if social value-related expenditures have a statistically significant positive impact on corporate value, they are recognized as intangible assets in the financial statements. If expenditures have a statistically significant negative impact on business value, they should be recorded as essential notes. Finally, if the impact of social value-related expenditure on corporate value is not statistically significant, it should be listed as a supplement. Research implications or Originality - This study contributes to the concurrent research in that it is a priori study on whether social value-related expenditure can be recognized as an asset. This study suggests that the economic effect of social expenditure can be recognized in corporate financial statements, thereby providing companies with justification and effectiveness of social value-related expenditure.

• Korean Journal of Social Welfare Studies
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• v.42 no.3
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• pp.207-231
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• 2011

The purpose of this study is to investigate the effect of the intergovernment relationship on the local government's social welfare expenditure. The data of 230 local governments from 2003 to 2008 were analyzed with the PCSE(Panel Corrected Standard Errors) Model of Beck and Kats. The results were as follow. First, financial transfer from the higher governments increase the social welfare expenditure of the local governments. Second, the party structure, that is the political relationships among local, regional, and central governments, affect the social welfare expenditure of the local governments. Third, the local governments compete each other to expand the social welfare expenditure in Korea. These results suggest that the relationship of local governments with the higher ones as well as the community factors is important in Korea, where the centralization is still strong in the local autonomy system, to understand the development of social welfare.

• Korean Journal of Social Welfare
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• v.42
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• pp.7-40
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• 2000

This paper examines the changes $(1982{\sim}1992)$ of social welfare expenditures of 12 welfare states. This paper focuses on two questions. First, to what extent have there been changes in social welfare expenditure (total social welfare expenditures, income support expenditures, social service expenditures) of 12 welfare states? Second, what are the causes of the changes in social welfare expenditures? Using Comparative Welfare States Data Set by Stephens(1997) and Social Expenditure Database by OECD (1999), this paper attempts to answer two questions. Fuller-Battese model, a data analysis method in pooled cross-sectional time-series analysis, is adopted to identify variables predicting social welfare expenditure changes. This paper analyzes the predictors separately according to the types of welfare states by Esping-Andersen (1990). Predictors are different by the types of welfare states; thus, economic variables such as GDP and financial deficiency have effects on social welfare expenditures of Liberal and Corporatist welfare states. while they have no effects in Social Democratic welfare states. Political variables has effects on social welfare expenditures of Corporatist welfare states, not of Liberal and Social Democratic welfare states. Demographic variables has effects on social welfare expenditures of Social Democratic welfare states rather than Liberal and Corporatist welfare states. This paper provides an additional knowledge about social welfare expenditure changes of 12 welfare states and discusses implications for the development of welfare state in Korea.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.7
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• pp.413-421
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• 2021

Government expenditure on education has attracted much attention because it plays an important role in the economic development. The question is whether government expenditure on education has a positive or negative impact on the economic growth and vice versa. This study aims to provide reliable estimates of the relationship between government expenditure on education and economic growth with empirical evidence in Vietnam for the period 2006-2019. The data was taken from the official statistics of the General Statistics Office of Vietnam. The authors have used the VAR model and Granger causal model to determine the relationship between government expenditure on education and the economic growth. Research results show that there is a two-way nexus between the economic growth and government spending on education with a lag of about two years. From the results obtained from this research, the authors have made some policy suggestions for the Vietnamese government as how to increase investment for education. If there is a one-way causal relationship between expenditure on education and the economic growth, the government can use spending as a growth factor. However, if there is a bi-directional relationship between the government expenditure on education and the GDP growth, the government needs to ensure that resources are appropriately managed and allocated effectively to promote growth.

• Korean Journal of Human Ecology
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• v.4 no.1
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• pp.63-74
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• 1995

Urben wage workers' education expenditure among different social classes from 1979 to 1993 has been compared. Eduction expenditure has increased much more than that of income resulting from income increase and government policy. Education expenditure gaps among social classes have showed to be an increasing trend although the ratio of education expense to the income has increased among low class families. Average income elasticity was 1.1 and this result showed that education expense was luxury good. Income elasticity of education expense among low class families have fluctuated more than any other classes resulting from construction business cycle and housing rent increase. Average Gini coefficient was 0.38 and turned out to be highest among 9 household expenditures, however it was in the trend of improvement from 81. But from 91 Gini Coefficient went up high again. Main reason for this increase was due to high social class families' eucation expenditure increase. Government's strong policies to enhance equality level of education opportunity and to support low class families are urged.

• Journal of the Korea Society of Computer and Information
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• v.21 no.5
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• pp.193-200
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• 2016

This study was conducted in order to assess the effect of variables influencing Korean baby-boomers' welfare consciousness. For this purpose, data from the $8^{th}$ supplementary survey of the Korea Welfare Panel in 2013 were analyzed. The subjects of analysis were 2,035 people who were born between 1955 and 1965 whose welfare panel data did not have missing values for the variables of the research model. According to the results of analysis, first, when the descriptive statistics of the major variables were analyzed, those showing a relatively high mean score among the sub-factors of the baby-boomers' welfare consciousness were 'expansion of expenditure for public assistance' (mean 3.65, SD .557), 'expansion of expenditure for social insurance' (mean 3.53, SD .646), and 'expansion of expenditure for social services' (mean 3.26, SD .424). The mean score of the baby-boomers' overall welfare consciousness was relatively high as 3.45 (SD .428), advocating the expansion of welfare expenditure. Second, the independent variables influencing the baby-boomers' welfare consciousness was found to have explanatory power of 12.9%. In the results of regression analysis, variables found to have a significant effect were gender (B=.100, t=2.573, p<.01), personal responsibility for poverty (B=-.151, t=-3.635, p<.01), social responsibility for poverty (B=.149, t=3.437, p<.001), and recipient's laziness (B=.251, t=6.578, p<.001). Based on these results were discussed major relevant policies.

• The Journal of the Convergence on Culture Technology
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• v.4 no.4
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• pp.187-199
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• 2018

In this study, only 2,877 men, 2,614 men (44.6%), and 143 women (2.3%) were selected as the subjects who were over 18 years old in response to the health consciousness of the Korean medical panel data in 2012. Emergency of smokers through medical use and medical expenditure data by smoking. The social costs were estimated through medical expenses according to the number of hospitalization and outpatient medical use. The social cost was calculated by summing the social expenditure on health care costs, insurer (corporation) costs, copayment, non - salary, and productivity costs by adopting the social perspective established by the health economist Rice (1968). The rate of annual emergency medical use by smoking status is 7.5% for smokers per 100 people, 9.8 times for use, and 809,003 won for social expenses. The annual rate of hospitalization per 100,000 population by smoking status was 9.6% for smokers per 100 population, 9 times for use, The social cost is 706,870 won. Annual smoking rate by smoking status was 68.6% for smoking, 9 cases for annual medical use,

• The Journal of the Korea Contents Association
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• v.13 no.2
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• pp.378-389
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• 2013

Health care expenditure might be understood as a core source of social welfare. It is mainly due to the fact that the health care expenditure is closely related to the level of social welfare. And, therefore, the paper is basically designed to investigate the effect of social welfare improvement resulted from an increasing in per capita, private, public, and total health care expenditures during 1995-2009 periods. Empirical evidence reveals that the improvement of social welfare in middle income group reveals the highest improvement in social welfare, and the other income groups maintain a quite similar pattern in improvement of social welfare. As far as category of health care expenditure concerns, the effect of social welfare improvement by per capita health care expenditure is in general lower in all case. And, private sector achieves the highest improvement of social welfare in comparing with public and total health care expenditures. To this end, it could be tentatively concluded that the private health care expenditure has to be substituted for the public sector to induce market-oriented operational system. Accordingly, it would be better to build an institutional basis more elaborately in setting up the market system.

• Journal of the Korean Home Economics Association
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• v.36 no.4
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• pp.179-188
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• 1998

The purpose of this study was to determine the impact of demographics on body-cathexis and clothing expenditure of elderly men and women. Data were obtained from 50 men and 58 men and 58 women aged 55 years and older through an mail survey. Body-cathexis consisted of five areas of body parts: head/upper body, lower body, height, weight, and torso. Clothing expenditure was measured by the total dollar value of annual personal expenditures on personal apparel, including accessories, such as shoes, and clothing services. Demographics included income, age, education, sex, marital status, and social participation. Data were analyzed using multiple regression. The results showed that there were relationships between body-cathexis and four demographic variables(income, sex, education, and social participation). Elderly men were more satisfied with their bodies than were elderly women. The subjects with higher income, education, and social participation had a higher degree of body satisfaction. Also, there was a significant relationship between income and clothing expenditure.

• Korean Journal of Social Welfare
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• v.55
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• pp.155-179
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• 2003

This paper compares two indicators, economic development and social condition, to find a better way to measure the level of social welfare development. The results show that social condition is more adequate indicator than economic development. The social condition has high correlation with the development of social welfare in all the 78 countries as well as in five groups of countries when the economic development is controlled. The comparison of two indicators reveals important findings. Among other things, the higher the level of social condition compared with economic development, the larger the social welfare expenditure. This tendency is particularly strong among the western European countries and former socialist countries. This result implies that the macro-level policy of social redistribution is also important for the development of social welfare in addition to micro-level policy of income redistribution. As we expected, the results show that the level of Korean social welfare development is very low. Considering our levels of economic development and social condition, predicted social welfare expenditure from regression model is at least 17% of GDP, but we are spending only 30% of this predicted expenditure. Another serious problem in Korean social welfare is unbalanced expenditure between social insurance and public assistance. On the basis of these results, this paper suggests three implications for social policy to improve Korean social welfare: First of all, the gap between predicted and actual expenditures should be closed to improve the minimum level of social welfare. Secondly, the level of social condition itself should be improved to increase the public awareness of social welfare. Finally, the wide difference in expenditure between universal and selective social welfare programs should also be removed to decrease the relative deprivation of the poor.