• International Area Studies Review
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• v.15 no.3
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• pp.451-470
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• 2011

Many countries are committed to absorb foreign direct investments (FDIs). One of the strong motivations is the improvement of innovative capability through the technology spillover of FDI firms. The effect of FDI technology spillover has been widely researched not only on country level, but industry level. With the evolution of globalization and global sourcing of multinational companies, it is necessary to reexamine the relationship between innovation ability of an industry and spillover effect of FDI. This paper investigates the technology spillover effect of FDI on the innovation of Chinese firms. We gathered the data of 34 industries form various sources of Chinese government and the time span is 2001-2008. By using industry level panel data, we set panel data analysis model. In the model, there are two explanatory variables: backward and foreward integration. The analysis result shows that technology spillover of FDI has significant effect on the innovation of foreward integration FDI.

• The Journal of Fisheries Business Administration
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• v.47 no.1
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• pp.101-113
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• 2016

The purpose of this paper is to analyze theoretically and empirically spillover effects of fishery quota on related markets through their demand curves. Theoretically, the spillover effects of a change in quota can be captured through the directly distorted market alone by computing surpluses associated with the new and old equilibrium. This study estimates empirically demand functions in the context of both the partial equilibrium and general equilibrium. The spillover effect can be computed from the difference between these two estimates. The econometric methodology to estimate the demand curves in the context of general equilibrium is presented and illustrated. The empirical result of fishery markets shows that spillover effects transmitted across other markets are not small and approximately account for 43.3% of the partial equilibrium welfare effects.

• East Asian Economic Review
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• v.19 no.3
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• pp.275-322
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• 2015

The key objective of this study is to investigate the return and volatility spillover effects among stock market, credit default swap (CDS) market and foreign exchange market for three countries: Korea, the US and Japan. Using the trivariate VAR BEKK GARCH (1,1) model, the study finds that there are significant return and volatility spillover effects between the Korean CDS market and the Korean stock market. In addition, the return spillover effects from foreign exchange markets and the US stock market to the Korean stock market, and the volatility spillover effect from the Japanese stock market to the Korean stock market are both significant.

• Korea Trade Review
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• v.42 no.4
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• pp.49-68
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• 2017

This paper investigates the spillover effect of the U.S. Interest on Korea's interest rate as well as the role of exchange rate in the spillover effects, by utilizing a open macro model on the determinants of long-term interest rates. According to the cointegration estimation and the Impulse response function, it is found that, across both long-term and short-term, there exist the spillover effect of the U.S. Interest on Korea's interest rate. The fiscal deficit and expected exchange rate have significantly positive relationship with the Koreas's long-term interest rate. Further, foreign exchange market intervention in Korea did not have significant effect on the spillover effect. Thus, this study suggests that exchange rate flexibility would not be enough to restrain the spillover effects of the U.S. interest rate.

• Management & Information Systems Review
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• v.29 no.2
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• pp.97-118
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• 2010

This paper explores the mean and volatility spillover effects among Chinese, Korean, and the U.S. stock markets during the Asian and global financial crises. We found that, during the Asian Financial crisis, there was no mean spillover effect to the Chinese stock markets. However, there were reciprocal mean spillover effects between the U.S. and the Korean market. This implies that Korean market was open, while Chinese market was secluded from the international financial market at that time. The negative volatility spillover effect between the U.S. and China reinforces this finding. During the global financial crisis, there was reciprocal mean spillover effect between the U.S. and China, and between the U.S. and Korea. This may reflect the fact that Chinese market has opened to the international financial market. However, the volatility spillover effect does not exist between China and the U.S., while the U.S. and Korea has reciprocal volatility spillover effect to each other. These findings may imply that China is still in the process of opening her stock market to international investors.

• Communications for Statistical Applications and Methods
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• v.23 no.3
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• pp.203-213
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• 2016

We investigate volatility spillover aspects of realized volatilities (RVs) for the log returns of the Korea Composite Stock Price Index (KOSPI) and the Hang Seng Index (HSI) from 2009-2013. For all RVs, significant long memories and asymmetries are identified. For a model selection, we consider three commonly used time series models as well as three models that incorporate long memory and asymmetry. Taking into account of goodness-of-fit and forecasting ability, Leverage heteroskedastic autoregressive realized volatility (LHAR) model is selected for the given data. The LHAR model finds significant decompositions of the spillover effect from the HSI to the KOSPI into moderate negative daily spillover, positive weekly spillover and positive monthly spillover, and from the KOSPI to the HSI into substantial negative weekly spillover and positive monthly spillover. An interesting result from the analysis is that the daily volatility spillover from the HSI to the KOSPI is significant versus the insignificant daily volatility spillover of the KOSPI to HSI. The daily volatility in Hong Kong affects next day volatility in Korea but the daily volatility in Korea does not affect next day volatility in Hong Kong.

• Knowledge Management Research
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• v.20 no.1
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• pp.27-43
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• 2019

This paper examines spillover effects of R&D investment in the ICT industry to other industries by analyzing panel data composed of 6 manufacturing industries for the period of 1983~2011. Major findings are as follows; (1) The increase of R&D investment in ICT industry has a significantly positive relationship with the increase in the value-added of the remaining 5 industries with 3~10 year lags, depending on the source of R&D funds and R&D stage. (2) More specifically, public R&D shows the spillover effects during 3~7-year lag periods, whereas private R&D started to exert spillover effects from 9-year lag. The result implies that the public R&D appropriately targets projects with more spillover effects. (3) Basic research, applied research, and development showed the spillover effects for the period of 9~10, 7~10, and 10-year lag, respectively. (4) The R&D investment in 5 other industries such as machinery, chemicals, and materials does not have positive spillover effects to the remaining industries. Few studies have been done to analyze the R&D spillover effects to other industries, with certain limitations. This study contributes to the existing literature by analyzing the spillover effects of the different R&D funds and R&D stages, and by considering various time-lag effects.

• Asia Marketing Journal
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• v.18 no.2
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• pp.45-61
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• 2016

Book adaptation has been considered an effective strategy in filmmaking. This paper examines the relationship between the box office sales and the performance of its original book focusing on category extension, especially investigating reciprocal spillover effect from a movie to the book. With empirical data, two-way causality between performance of the extension brand (i.e., movies) and that of the parent brand (i.e., books) was examined to test the existence of reciprocal spillover effect. In addition, a linear model was used to test the moderating roles of extension characteristics. The results revealed that the higher the movie's box office sales, the higher the original book's sales after movie's release. The authors also found moderation effects such that if the book has high level of brand awareness prior to movie's release, or if there is a movie tie-in version, or when the book is mentioned in movie trailer, or if the movie is released shortly after the book's publication, then the strength of spillover effect is superior. The current empirical investigation is meaningful considering it provides implications to both buyers and sellers of the extension rights, contributing to the literature of reciprocal spillover effects in category extension.

• Journal of Families and Better Life
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• v.23 no.4 s.76
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• pp.113-122
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• 2005

The purpose of this study is to examine the work-family conflict and work-family spillover of married working women. For this purpose, this study estimate the level of work-family conflict and spillover and investigate the related variables to then The results are as follows. The level of work-family conflict is ordinary. The level of role conflict as mother is highest and that of role conflict as wife is lowest. The level of work-family spillover is also ordinary and positive work-family spillover and family-work spillover are higher than negative ones. Work-family conflict of married working women have a significant difference according to woman's age, age of first child, number of children, household work time, career years, and support of family. Negative family-work spillover have similar trend with wok-family conflict in affecting variables. This study is meaningful in analyse the work-family spillover of married working women as well as work-family conflict to reveal the positive aspect with negative aspect of work-family. It is needed to eliminate the conditions which cause conflict to married working women and emphasize the positive effect of work-family.

• Journal of Technology Innovation
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• v.22 no.3
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• pp.225-260
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• 2014

In this paper, we present a literature review of the mechanisms and methodology for technology spillover, in order to provide a theoretical and practical foundation for estimating the technology spillover effect of public funded R&D programs. Our research consists of four parts. First, we investigate what technology spillover is and how it works. Second, we review the methodology used to empirically measure technology spillover, with a view to understanding the advantages and disadvantages of each method. Third, we identify the gap between the spillover phenomenon and its estimated results, caused by the limitations of the methodology, and discuss the challenges in measuring technology spillover. Finally, we present several considerations to improve the measurement of technology spillover in the context of public funded R&D programs. Our paper provides policy makers and researchers with basic knowledge about technology spillover and helps them suitably evaluate the results obtained from the literature review. In addition, it contributes towards improving the existing methodology by recognizing the gap between the spillover phenomenon and the methodology.