The Economic Growth of Korea Since 1990 : Contributing Factors from Demand and Supply Sides (1990년대 이후 한국경제의 성장: 수요 및 공급 측 요인의 문제)
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- KDI Journal of Economic Policy
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- v.31 no.1
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- pp.169-206
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- 2009
This study stems from a question, "How should we understand the pattern of the Korean economy after the 1990s?" Among various analytic methods applicable, this study chooses a Structural Vector Autoregression (SVAR) with long-run restrictions, identifies diverse impacts that gave rise to the current status of the Korean economy, and differentiates relative contributions of those impacts. To that end, SVAR is applied to four economic models; Blanchard and Quah (1989)'s 2-variable model, its 3-variable extensions, and the two other New Keynesian type linear models modified from Stock and Watson (2002). Especially, the latter two models are devised to reflect the recent transitions in the determination of foreign exchange rate (from a fixed rate regime to a flexible rate one) as well as the monetary policy rule (from aggregate targeting to inflation targeting). When organizing the assumed results in the form of impulse response and forecasting error variance decomposition, two common denominators are found as follows. First, changes in the rate of economic growth are mainly attributable to the impact on productivity, and such trend has grown strong since the 2000s, which indicates that Korea's economic growth since the 2000s has been closely associated with its potential growth rate. Second, the magnitude or consistency of impact responses tends to have subsided since the 2000s. Given Korea's high dependence on trade, it is possible that low interest rates, low inflation, steady growth, and the economic emergence of China as a world player have helped secure capital and demand for export and import, which therefore might reduced the impact of each sector on overall economic status. Despite the fact that a diverse mixture of models and impacts has been used for analysis, always two common findings are observed in the result. Therefore, it can be concluded that the decreased rate of economic growth of Korea since 2000 appears to be on the same track as the decrease in Korea's potential growth rate. The contents of this paper are constructed as follows: The second section observes the recent trend of the economic development of Korea and related Korean articles, which might help in clearly defining the scope and analytic methodology of this study. The third section provides an analysis model to be used in this study, which is Structural VAR as mentioned above. Variables used, estimation equations, and identification conditions of impacts are explained. The fourth section reports estimation results derived by the previously introduced model, and the fifth section concludes.
The purpose of this study is to examine the structural relationships of empowerment, continuous learning activities, and collaboration in the effects of person-organization fit and person-job fit on task performance among employees of early-stage startups with less than 7 years of experience that have an agile organizational culture. To achieve this purpose, we developed a research model and established hypotheses based on theoretical review and the results of prior research. Data were collected from employees working in startups with less than 7 years of experience that have an agile organizational culture, and a total of 204 responses were utilized for the final analysis. Before hypothesis testing, we examined the characteristics of the sample, conducted confirmatory factor analysis to assess measurement model fit, tested convergent and discriminant validity and analyzed reliability. After confirming the goodness of fit of the structural equation model, it tested the hypotheses, including mediating effects, based on the results of the structural equation model analysis. The results show that person-organization fit has a significant positive effect on empowerment, continuous learning activities, and collaboration. Similarly, person-job fit was found to have a significant positive effect on empowerment, continuous learning activities, and collaboration. However, it was found that empowerment did not have a statistically significant effect on task performance, while continuous learning activities had a significant and negative effect on task performance. Finally, collaboration was found to have a significant positive effect on task performance, and the mediation analysis results indicated that collaboration had a mediating effect on the relationship between person-job fit and task performance. Based on the findings of this study, it discussed the significance of the study and theoretical and practical implications. It also discussed limitations of the research and suggested directions for future research.
To evaluate the vertical loads on railway bridges, conventional load tests are typically conducted. However, these tests often entail significant costs and procedural challenges. Railway conditions involve nearly identical load profiles due to standardized rail systems, which may appear straightforward in terms of load conditions. Nevertheless, this study aims to validate load tests conducted under operational train conditions by comparing the results with those obtained from conventional load tests. Additionally, static and dynamic structural behaviors are extracted from the measurement data for evaluation. To ensure the reliability of load testing, this research demonstrates feasibility through comparisons of existing measurement data with sensor attachment locations, train speeds, responses between different rail lines, tendency analysis, selection of impact coefficients, and analysis of natural frequencies. This study applies to the Dongho Railway Bridge and verifies the applicability of the proposed method. Ten operational trains and 44 sensors were deployed on the bridge to measure deformations and deflections during load test intervals, which were then compared with theoretical values. The analysis results indicate good symmetry and overlap of loads, as well as a favorable comparison between static and dynamic load test results. The maximum measured impact coefficient (0.092) was found to be lower than the theoretical impact coefficient (0.327), and the impact influence from live loads was deemed acceptable. The measured natural frequencies approximated the theoretical values, with an average of 2.393Hz compared to the calculated value of 2.415Hz. Based on these results, this paper demonstrates that for evaluating vertical loads, it is possible to measure deformations and deflections of truss railway bridges through load tests under operational train conditions without traffic control, enabling the calculation of response factors for stress adjustments.
Storytelling is a communication technique to express and convey the story using various media, where the audience accepts the story, reinterprets the topic and interacts with the storyteller. It was assumed that the user's significance and awareness about the storytelling technique applied to historical theme parks would have an impact on the satisfaction of using the theme park and intention to revisit. In this study, it was purposed to derive the structural factors of spatial storytelling in historical theme parks, and to understand the impact of user's awareness and constituent factors on user responses. Based on previous researches, the structural factors of spatial storytelling in historical theme parks were derived related to theme, experientiality, unusualness, educationalness, unity, expressiveness, interactivity, and interest, and for which the users' awareness was surveyed. The survey was conducted targeting the users of Samguk Yusa Theme Park located in Gunwi-gun, Gyeongsangbuk-do, where the collected data was analyzed using EXCEL2020 and SPSS 21.0 statistical programs, and the results are as follows: First, the spatial storytelling technique applied as a conveying method of the theme of Samguk Yusa Theme Park affects users' satisfaction and intention to revisit, and most respondents responded that the storytelling was significant. Second, it showed that the significance of unusualness and educationalness among the awareness of significance of the spatial storytelling constituent factors of Samguk Yusa Theme Park has a significant impact on user's satisfaction, and the significance of unusualness, interactivity, educationalness, and interest has a significant impact on intention to revisit. Third, it showed that the awareness of interest, theme, and unity has a significant impact on user's satisfaction depending on the user's awareness of spatial storytelling constituent factors of Samguk Yusa Theme Park, and the awareness of interactivity and experientiality has a significant impact on intention to revisit. This study is meaningful in quantitative analysis and interpretation of the influence of storytelling on user's response to historical theme parks by the exploratory analysis of characteristic factors and spatial storytelling constituent factors on historical theme parks and deriving the structural factors of spatial storytelling in historical theme parks.
Salespeople act at the point of MOT with customers and deliver the enterprise's message to the customers. They build up relationships with customers as well as deliver the customer's message to the enterprise. The salespeople's activity at the point of MOT with the customers and the degree of satisfaction of the customers' needs will affect the customers' attitude toward the enterprise, brand loyalty, and retention intention. Ultimately, it will influence the enterprise's financial performance. The control of salespe1ople is one of the most interesting topics of marketing. This research investigates the relationships of the control types over salespeople(positive/negative outcome control, positive/negative behavior control) and job satisfaction and their mediating variables. The mediating variables in the relationships have been identified as outcome/behavior-related role clarity and self-efficacy. The purpose of this study is more specifically as follows: First, it investigate how the perception of salespeople control types affect role-clarity. Second, it examines how the perception of salespeople control types influence self-efficacy. Third, it investigate the mediating role of role-clarity between the perception of salespeople control types and self-efficacy. Fourth, it investigates how role-clarity affect self-efficacy and job satisfaction. Finally, it will investigates how self-efficacy influences job satisfaction. Data were collected from the pharmaceutical industry salespeople and analyzed by SPSS 12.0 and AMOS 6.0. The data were collected by 400 respondents and 377 valid questionnaires were analyzed. The results are summarized as follows: First, positive/negative outcome controls had a positive relationship with outcome-related role clarity. Also positive behavior control had a positive effect on behavior-related role clarity, but negative behavior control didn't influence behavior-related role clarity. Second, positive outcome control influenced self-efficacy positively, but positive behavior control didn't have a positive effect on self-efficacy. In addition negative outcome control and negative behavior control had a positive effect on self-efficacy due to the mediating role of outcome-related and behavior-related role clarity. Third, outcome-related role clarity and behavior-related role clarity influenced self-efficacy positively. Behavior-related role clarity had a positive effect on job satisfaction, but outcome-related role clarity didn't influence job satisfaction. Finally, self-efficacy didn't have any effect on job satisfaction. The contributions of this study are as follows: First, existing studies have investigated the direct causal relationship between salespeoples' control type and performance, but this study investigates the structural causality between salespeoples' control types, responses, and performances. Second, this study found the mediating role of outcome-related/behavior-related role-clarity between outcome/behavior control and self-efficacy. Finally, the findings of this study further insight to existing studies on the relationship between job satisfaction and self-efficacy. The confidence of salespeoples' task influenced job satisfaction positively in existing articles,field studies, but the relationship between these two variables was not significant in this study. This means that there can be a different relationship between confidence and job satisfaction according to salespeoples' business. That is, the business environment may not be satisfying, even if the salespeople say that they have ability and confidence about their business. This means that able salespeople who have ability and confidence about their business are not satisfied with their job advancement in the company. Therefore, enterprise need to provide training that can establish a business environment that can satisfy the salespeole's expectation level which will secure good salespeople. This study may have limitation when applied to future studies. First,in this study as with existing studies it investigates the control level that salespeople feel is being measured. Actuality, the control level that a manager enforces and the control level that salespeople perceive when one is late can be different. There is need to measure lateness from both the perspective of the manager and salespeople should be done to supplement this study in the future Second, this study used variables that were connected with action result but salespeople's job satisfaction is due to the result of control. But, focusing on result of control can provide a more important financial result than sales performance. This study is also limited in that it did not consider financial result by result of control. Further studies on this will need to be done in the future. Third, this study may have a further limitation,because the investigation was restricted to pharmaceutical salespeople selling to hospitals. It is necessary to execute investigations in various industries to increase the generalization of the study findings Fourth, in this study, role clarity and self-efficacy by response variable for control and considered job satisfaction by outcome variable of control was considered. But, can other variables be considered beside response variable and result variable for control? For example, can financial affairs and change of post by outcome variable along with business stress by response variable for control be considered? Therefore, future studies need to consider various control variables. Finally, there is limited supporting research in the field of marketing which restricts the generalization of the study finding along with collecting material through random sampling of a limited size. This research summarizes the research in this area, the difference from the previous research, and provides a discussion of its limitations and the need and direction for further future research.
Nowadays, it is common that most consumers are purchasing goods in e-stores. The e-stores eager to attract, revisit, retain, and finally convert them into loyal customers. The e-store marketers have planned and executed numerous marketing efforts. As one of the marketing activities, e-store managers attempt to build web sites that meet customers' functional and psychological needs. A wide array of studies has been done to identify factors that could affect customers' response of web sites. Majority of studies were conducted to verify technology-related and functional variables of the website which facilitate transactions and enhance customer responses such as purchase intention and website loyalty. However, there has been little research on the external cues of website and psychological variables of consumer that could have positive influences on customer response. The purpose of this study is to investigate the influence of e-store personality on e-store loyalty through mediating variables such as e-store identification, e-store trust, and e-store engagement. The authors of this study develop the model and set up the six main hypotheses and a set of sub-hypotheses based on a literature review, shown in
Laboratory and greenhouse studies were conducted to determine differential sensitivities on absorption of
This study is to identify the influence of major variables that affect the participation intention of securities type crowdfunding investors and how participation intention and perceived behavioral control affect investors' herd behavior including indirect effect analysis based on the theory of planned behavior. The ultimate purpose of this study is to understand the investment behavior of securities type crowdfunding investors and to help the relevant parties to develop various policies and business plans to revitalize the system and protect investors. An online survey was conducted on people who are interested or have experience in securities type crowdfunding to receive a total of 276 responses. Excluding outliers, a total of 261 responses were taken into account for the final analysis. For the data analysis, structural equation model analysis using SPSS 22.0 and Amos 22.0 statistical package was conducted. As a result, two of the major variables of the theory of planned behavior-attitude and subjective norm-have been found to have a positive effect on the participation intention of securities type crowdfunding investors. And after analyzing the indirect effect, the participation intention was found to play a mediating role between attitude, subjective norm and herd behavior. However, the perceived behavioral control presented as a major variable of behavioral intention in the theory of planned behavior showed that the effect on participation intention was statistically insignificant. Instead, it was found to have a direct positive effect on herd behavior. This is significant because it empirically confirmed that even if investors perceive securities type crowdfunding as easy to participate, perceived behavioral control does not seem to have a significant impact on participation intention because securities type crowdfunding is an investment in an early-stage business with a high risk of loss. On the other hand, the study has great significance in that it empirically confirmed that domestic securities type crowdfunding investors perceive the funding progress information provided by the platform as a signal and imitate many other investors, showing herd behavior when they actually make an investment. It is expected that this study will provide meaningful insights for the policy making of crowdfunding supervisory offices and platform operators by empirically identifying major variables that influence the participation intentions and herd behavior of domestic securities type crowdfunding investors.
Characteristics of aerodynamic damping ratios of a helical
Many companies have recently become interested in using social networking sites such as Twitter and Facebook as a new channel to communicate with their customers. For example, companies often offer "special deals" (e.g., coupons, discounts, free samples, etc.) to their customers who participate in promotions or events on social networking sites. Companies often make important announcements on their products or services on social networking sites. By doing so, customers are encouraged to continue to have relationships with companies on social networking sites and to recommend the companies' presence on social networking sites to other potential customers. Moreover, customers who keep close relationships with companies on social networking sites often provide the companies with valuable suggestions and feedback. For instance, Starbucks has more than 2 million followers on Twitter, and often receive suggestions and feedback for their product offerings and services from the followers on Twitter. Although companies realize potential benefits of using social networking sites as a channel to communicate with their customers, it appears that many companies have difficulty forging long-lasting relationships with customers on social networking sites. It is often reported that many customers who had followed companies on Twitter later stopped following them for various reasons. Therefore, it is an important issue to understand what motivates customers to continue to keep relationships with companies on social networking sites. Nonetheless, due attention has yet paid to this issue until recently. This study intends to contribute to our understanding on customers' intention to continue to follow companies on Twitter and to spread positive word-of-mouth about companies on Twitter. Specifically, we identify seven potential factors that customers perceive as important in evaluating their experience with companies on Twitter. The seven factors include similarity, receptivity, interactivity, ubiquitous connectivity, enjoyment, usefulness and transparency. We posit that the seven perception factors can affect the two types of satisfaction, emotional and cognitive, which can in turn influence on customers' intention to follow companies on Twitter and to spread positive word-of-mouth about companies on Twitter. Research hypotheses formulated in this study were tested with data collected from a questionnaire survey administered to customers who had been following companies on Twitter. The data was analyzed with the partial least square (PLS) approach to structural equation modeling. The results of data analysis based on 177 usable responses were generally supportive of our predictions for the effects of the seven factors identified and the two types of satisfaction. In particular, out results suggest that emotional satisfaction was strongly influenced by perceived similarity, perceived receptivity, perceived enjoyment, and perceived transparency. Cognitive satisfaction was significantly influenced by perceived similarity, perceived interactivity, perceived enjoyment, and perceived transparency. While cognitive satisfaction was found to have significant and positive effects on both continued following and word-of-mouth intentions, emotional satisfaction had a significant and positive effect only on word-of-mouth intention.
. This model is composed of four paths such as dimensions of e-store personality. First of all, hypothesis 1 is partially supported because sub-hypothesis 1-1 and 1-2 are supported, whereas sub-hypothesis 1-3, 1-4, and 1-5 are rejected. Specifically, it reveals that warmth and sophistication dimensions in e-store personality have positive influence on e-store identification, however, activity, progressiveness, and strictness does not have any significant relationship on e-store identification. Secondly, hypothesis 2 was supported. Therefore, it can be said that e-store identification has a positive impact on e-store trust. Thirdly, hypothesis 3 is also supported. Hence, there is a positive relationship between e-store identification and e-store engagement. Fourthly, hypothesis 4 is supported too. e-store identification has a positive influence on e-store loyalty. Fifthly, hypothesis 5 is also accepted. This indicates that e-store trust is a precedent variable which positively affects e-store loyalty. Lastly, it reveals that e-store engagement has a positive impact on e-store loyalty. Therefore, hypothesis 6 is supported. The findings of the study imply that some dimensions of e-store personality have a positive influence on e-store identification, and that e-store identification has direct and indirect influence on e-store loyalty through e-store trust and e-store engagement positively. These results also suggest that the e-store identification in e-store personality is a precedent variable which positively affects e-store loyalty directly and indirectly through e-store trust and engagement as a mediating variable. Therefore, e-store marketers need to implement website strategy based on e-store personality, e-store identification, e-store trust, and e-store engagement to meet customers' psychological needs and enhance e-store loyalty. Finally, the limitations and future study directions based on this study are discussed.
Difference of Absorption and Anatomical Responses to Protoporphyrinogen Oxidase-Inhibiting Herbicides in Wheat and Barley
(Protoporphyrinogen Oxidase 저해형 제초제에 대한 밀과 보리의 흡수 및 해부하적 차이)
A Study on Participation Intention and Herd Behavior on Domestic Securities Type Crowdfunding Investors: Focusing on the Theory of Planned Behavior
(국내 증권형 크라우드펀딩 투자자의 참여의도와 무리행동에 관한 연구: 계획된 행동이론을 중심으로)
Characteristics of Aerodynamic Damping on Helical-Shaped Super Tall Building
(나선형 형상의 초고층건물의 공력감쇠의 특성)
Following Firms on Twitter: Determinants of Continuance and Word-of-Mouth Intentions
(트위터를 통한 기업과 고객과의 소통: 지속적인 팔로윙과 구전 의도에 영향을 미치는 요인에 대한 연구)
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