• Journal of the Economic Geographical Society of Korea
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• v.25 no.1
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• pp.147-170
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• 2022

This article analyzes the spillover effects by dividing the weekly rate of return on apartment prices in 70 si-gun-gu (local area) in the Capital Region into three periods: the entire period (April 2008~August 2021); the period before the price surge (April 2008~October 2018); and the period of price surge (November, 2018~August 2021), based on a consideration of the cycle of fluctuations in apartment sales prices and the timing of the current government's policy interventions. The results obtained from this analysis are summarized as follows. First, the analysis of the spillover effects is similar to or different from the results of existing work depending on the period. The analysis of the spillover effects on the entire period and the period before the price surge shows that the 'Gangnam' effect exists in the apartment market in the Capital Region. On the other hand, the analysis of the spillover effects on the period of price surge reveals different results than before. The spillover effect index calculated through the analysis of the rolling sample decreases during the decline in the cycle of apartment sales prices, while the opposite trend is shown during the upward period. Looking at the timing between the peak of the spillover effect index and policy interventions, it appears that the government's policy interventions took place after the peak of the spillover effect index in 2017, before the peak in 2018 and 2019, and around or after the peak after 2020.

• 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.

• Korea Trade Review
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• v.44 no.2
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• pp.109-126
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• 2019

Import refusals can be considered a new method of non-tariff barriers. This study aims to analyze reputation spillover effects on fish and fishery products imported from ASEAN countries to the U.S. FDA. The supply of aquatic products is not stable due to various factors such as reduction of fish stocks and climate change. Fish is a basic food ingested directly, but there are many ways to control the safety of aquatic products. ASEAN countries account for about 20% of U.S.imports in fish and fishery products. For Southeast Asian countries, fish and fishery products comprise a high proportion of exports revenue. Despite the large share of exports to the U.S., Southeast Asia countries have been receiving many import refusals from the United States. In this study, a theoretical model for examining import refusals is suggested using the negative binomial counting process. The reputation spillover effect, was divided into two spillover effects of 'neighbor reputation' and 'sector reputation'. Results show that there exists a neighbor reputation spillover effect. It can be said if there was a import refusal of the same product from neighboring countries in the preceding year, the home country have a possibility to experience import refusals of the same product. Therefore, it is interpreted that neighboring countries have good standard compliance can help home countries to effectively reach the target markets. Our findings have a important policy implication for ASEAN exporters of fish and fishery products.

• Journal of Technology Innovation
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• v.31 no.2
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• pp.263-301
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• 2023

This study analyzes whether the network characteristics lead to differences in innovation performance between inventors, using the case of Samsung Electronics and Hyundai Motor Company which have applied for the most patents in the electronics and automobile industries while showing significant differences in the degree of collaborative invention. The more inventors an inventor is connected with in the network, the higher innovation performance is achieved. While existing literature addressed intra- / interindustry, and intra- / inter- group spillovers at the organizational level, this study extends this discussion to the inventor level. This study newly introduces spillover pools from network components and then constructs spillover pools in three dimensions of the group, the industry, and the network component. The study analyzes the effects of each spillover pool on invention performance of an individual inventor and compares the effects between spillover pools. At the inventor level, the innovative effects of spillover pools were confirmed. The results of this study suggest that the inventor's network characteristics and spillover pools can be used to predict the inventor's innovation performance.

• Journal of the Korea Institute of Military Science and Technology
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• v.10 no.1
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• pp.86-93
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• 2007

The objective of this paper is to examine the structure of technology spillover from UAV(unmanned air vehicle) technology to other industries by applying patents analysis. The network analysis on patent data of USPTO(United Stated Patents and Trademark Office) from 1981 to 2000 was adopted to investigate the characteristic change of the technology spillover The results show that the influence of the UAV technology to other industries has grown over the twenty years period. For the weapon system development, this study provides a research basis to estimate the technology spillover effects on industries. Searching a structural niche from the inter-industrial knowledge flow structure might be a useful technique to find core technologies which generate large technology spillover on the other industries.

• Culinary science and hospitality research
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• v.22 no.3
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• pp.212-223
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• 2016

The purpose of this study is to verify information spillover effects using returns of macroeconomic variables and hotel leisure stock index daily data from January 4, 2000 to December 30, 2015. The findings and implications of the research can be summarized as follows. First, based on time-varying AR(1)-GARCH(1,1) models no evidence of statistically significant conditional mean and volatility spillover effects from returns of macroeconomic variables on the hotel leisure stock index was observed. In addition, no evidence of price volatility spillover from macroeconomic variables on the hotel leisure market was observed. Second, it was discovered that there exists a significantly negative relationship between the return of ER and hotel leisure stock prices, but a positive relationship between the KOSPI and hotel leisure stock prices. Finally, the study also found that was a significantly positive relationship between the volatility of DUB and hotel leisure market, and an adversely negative relationship between the volatility of ER and hotel leisure market. The results of this study are expected to contribute by providing useful information for investment strategies, as well as for risk management for investors and managers.

• International Area Studies Review
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• v.14 no.3
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• pp.3-33
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• 2010

While new evidence on international spillover effects has been widely discussed around the globe, the MENA (Middle East and North African) region has received little attention concerning international transmission of stock market movements. In this paper, we discuss international spillover effects between the major developed markets (US, Japan and Germany) and the emerging markets in the MENA region (Turkey and Egypt). While GARCH-type models have mainly been used to investigate international stock market spillovers in much of previous studies, we develop new testing strategies based on discrete wavelet decomposition. The basic finding is that price as well as volatility spillover effects exist from the developed stock markets to the MENA counterparts, although evidence for price spillover to the Egyptian market is rather weak. As for the interdependence of the major MENA stock markets, no spillover effects are found between these markets, while the two MENA markets are somewhat related with each other.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.2
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• pp.747-757
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• 2021

The primary purpose of the study is to investigate the volatility spillover from financial uncertainty (FU) of the United States (US) to the stock markets of SAARC member countries including India, Sri-Lanka, Pakistan, and Bangladesh. The empirical literature overlooked SAARC countries and the FU index. Based on the estimation method, the data of FU is available for three different forecast horizons including 1-month, 3-months, and 12-months. For empirical analysis, monthly data is used from February 2013 to September 2019. EGARCH model is employed to investigate the volatility spillover effects. The findings of the study show that the spillover effect of FU varies with the forecast horizon. The FU with a higher forecast horizon has a significant spillover effect on more countries. The spillover effect of US financial uncertainty is negative in most of the SAARC countries. Bangladesh stock market is influenced by FU with all three forecast horizons whereas the volatility of the Pakistan stock market is not influenced by FU with any forecast horizon. The findings are consistent with the concept of "limited trade openness" in the financial markets of emerging economies. The emerging economies avoid financial market openness to minimize the risk of spillover of other countries.

• 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.

• World Technopolis Review
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• v.3 no.3
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• pp.122-138
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• 2014

The number of environment-related technologies has increased remarkably over the past two decades, as has the public's interest in effective resource use and ways to reduce the effects of global warming. Industries that are based on environment-related technologies are thus growing rapidly. Previous studies revealed that externalities derived from the population concentration in urban areas positively affect agglomerations of high-tech industries. Such externalities have been named the "knowledge spillover effect". The purposes of the present paper are to (1) give a thumbnail sketch of the locations of environment-related industries around the world, using the Organisation for Economic Co-operation and Development environment-related patent statistics, and (2) explicate the effects of the Marshall-Arrow-Romer (MAR) and Jacobs externalities, which result from population concentrations in urban areas, on the agglomeration of environment-related industries in Sweden. The analysis revealed that environment-related industries are located chiefly in urban areas across the globe, and that only the MAR externalities influenced positively on the agglomeration of these industries in Sweden.