• Journal of Distribution Science
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• v.13 no.7
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• pp.53-61
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• 2015

Purpose - This research analyzes overseas expansion support systems for small- and medium-sized enterprises in Germany and Japan. Germany and Japan have developed overseas expansion support policies for such enterprises. The study then explores the implications for Korea and its local governments. Research design, data, and methodology - We did a comparative analysis of Japan and Germany and their support for overseas expansion of small and medium companies. Data were mainly collected from the Ministry of Economy, Trade and Industry (Japan) and the Germany Trade and Invest (Germany) agency through statistics and literature surveys, and analysis studies. Results - First, human resources cultivation and funding support policies, which both Germany and Japan use as part of small- and medium-sized enterprise policies, should be modified to Korean circumstances and to reflect its own small- and medium-sized enterprise support needs. Second, both the German policies that support overseas expansion of small- and medium-sized enterprises and those of Japan's include the philosophy and methods that put an emphasis on these enterprises, despite the fact that there are big differences in the overseas policies in these two countries. Third, German and Japanese governments are embracing the idea that small- and medium-sized enterprises are key to their national economies and implementing policies based on the ratio occupied by these enterprises in the domestic consumption or GDP. In other words, Germany and Japan consider small- and medium-sized enterprises as central to their nation's industry, and assess them as economic industry that should definitely exist for the continued survival of big businesses, and not just as merely supplemental to big business. Fourth, whereas Germany emphasizes support to product exhibition in its overseas expansion support policies, Japan is providing integrated support containing foreign direct investment to small- and medium-sized enterprises. Fifth, there are differences in the overseas expansion support in Germany and Japan in terms of their support to big business. Whereas Germany considers support to big business unnecessary, Japan is implementing active support policies to areas corresponding to big business. Korea will have to benchmark the policies of Germany and Japan, and decide whether or not to give full support to small- and medium-sized enterprises, while excluding areas supporting big business. Conclusions - Based on this analysis of German and Japanese overseas expansion support policies, we need to choose the policies that will engender a solid outcome and derive modified policies for the circumstances of Korea. Additionally, we can use the comparison of the overseas support policies of Japan and Germany to choose small- and medium-sized enterprise overseas expansion support policies for Korea. However, we cannot provide specific overseas support policies by industry. This point will be referenced as a limitation of this study. In future research, we expect that some researchers will take an empirical approach to exploring Korean overseas expansion support through collecting cases of overseas support policies and interviewing policy authorities.

• Journal of Distribution Science
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• v.13 no.10
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• pp.73-82
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• 2015

Purpose - This paper aims to investigate whether information asymmetry could explain capital structures in Korean corporations. According to Myers (1984), firms prefer internal funding to external financing due to the costs associated with information asymmetry. When external financing is necessary, firms prefer to issue debt rather than equity by the same reasoning. Since Shyam-Sunder and Myers (1999), numerous studies continue to debate the validity of the theory. In this paper, we show how the theory depends on assumptions and incorporated variables. We hope our investigation can provide helpful implications regarding capital structure, information asymmetry, and other firm characteristics. Specifically, our empirical results are complementary to the analysis of Son and Lee's (2015), a recent study that examines the pecking order theory prediction for Korean retail firms. Research design, data, and methodology - We test empirical models that are some variants of model used in Shyam-Sunder and Myers (1999). The financial and accounting data are provided by WISEfn for the firms listed on the KOSPI during 1990 to 2013. Bond ratings are supplied by the Korea Investor Service (KIS). We take into account the heterogeneity in debt capacity; a firm's debt capacity is measured by using the method of Lemmon and Zender (2010) based on its bond ratings. Finally, we estimate empirical models suggested by Shyam-Sunder and Myers (1999), Frank and Goyal (2003), and Lemmon and Zender (2010). Results - First, we find that Shyam-Sunder and Myers' (1999) prediction fails to explain total debt changes of Korean firms. Second, we find a non-monotonic relationship between total debt changes and financial deficits with respect to debt capacity. This contradicts the prediction of Lemmon and Zender (2010) that argues the pecking order theory survives with a monotonically increasing relationship. Third, we estimate a negative correlation coefficient between financial deficit and current debt changes. The result is the complete opposite of the prediction of Lemmon and Zender (2010). Finally, we also confirm the non-monotonic relationship between non-current debt changes and financial deficits with respect to debt capacity. Yet, the slope of coefficient is smaller than that of total debt change case. Indeed, the results are, to some extent, consistent with the prediction of pecking order theory, if we exclude the mid-debt capacity firms. Conclusions - Our empirical results complementary to the analysis of Son and Lee (2015), a recent study focusing on capital structure in Korean retail firms; their paper suggests interesting topics regarding capital structure, information asymmetry, and other firm characteristics in Korean corporations. Contrary to Son and Lee (2015), our results show that total debt changes and current debt changes are inconsistent with the prediction of Shyam-Sunder and Myers (1999). However, similar to Son and Lee (2015), non-current debt changes are consistent with the pecking order prediction, in the case of excluding the mid-level debt capacity firms. This contrast allows us to infer that industry characteristics significantly affect the validity of the pecking order prediction. Further studies are needed to analyze the economics behind this phenomenon, which is beyond the scope of our paper. In addition, the estimation bias potentially matters regarding the firm-level debt capacity calculation. We also reserve this topic for future research.

• The Journal of Industrial Distribution & Business
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• v.9 no.6
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• pp.77-85
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• 2018

Purpose - The purpose of this study is to subdivide trade transaction-centered structure in a logistics/distribution industry system to apply blockchain, to establish and resolve with which types of technology, and to provide policy direction of government institution and technology to apply blockchain in this kind of industry. Research design, data, and methodology - This study was conducted with previous researches centered on cases applied in various industry sectors on the basis of blockchain technology. Results - General fields of blockchain application include digital contents distribution, IoT platform, e-Commerce, real-estate transaction, decentralized app. development(storage), certification service, smart contract, P2P network infrastructure, publication/storage of public documents, smart voting, money exchange, payment/settlement, banking security platform, actual asset storage, stock transaction and crowd funding. Blockchain is being applied in various fields home and abroad and its application cases can be explained in the banking industry, public sector, e-Commerce, medical industry, distribution and supply chain management, copyright protection. As examined in the blockchain application cases, it is expected to establish blockchain that can secure safety through distributed ledger in trade transaction because blockchain is established and applied in various sectors of industries home and abroad. Parties concerned of trade transaction can secure visibility even in interrupted specific section when they provide it as a base for distributed ledger application in trade and establish trade transaction model by applying blockchain. In case of interrupted specific section by using distributed ledger, blockchain model of trade transaction needs to be formed to make it possible for parties concerned involved in trade transaction to secure visibility and real-time tracking. Additionally, management should be possible from the time of contract until payment, freight transfer to buyers through land, air and maritime transportation. Conclusions - In order to boost blockchain-based logistics/distribution industry, the government, institutionally, needs to back up adding legal plan of shipping, logistics and distribution, reviewing standardization of electronic switching system and coming up with blockchain-based industrial road maps. In addition, the government, technologically, has to support R&D for integration with other high technology, standardization of distribution industry's blockchain technology and manpower training to expand technology development.

• Journal of dental hygiene science
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• v.18 no.4
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• pp.201-209
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• 2018

The aim of this study was to identify bibliographic characteristics and research trends of articles published on the elderly people in dental hygiene. An analysis was done of 191 articles published from 1999 to 2017. Bibliographic characteristics were nine items such as publication journal, research design, research participants, number of researchers, data analysis method, keywords, research topic, and validity and reliability report. The collected data were analyzed using descriptive statistics of statistical program. First, the research on the elderly, which was published in dental hygiene, started to be published in 1999 and on going. Though major publications have been published in Journal of Korean Society of Dental Hygiene and Journal of Dental Hygiene Science, the kinds of journals are becoming diverse. Second, cross-sectional research was the most. Third, the elderly were the most studied subjects, but the criteria varied. Fourth, the number of authors was largest in order of two and three person. Fifth, data analysis method was in order of descriptive statistics, t-test, and ANOVA. Sixth, there were many duplication of keywords about oral, elderly, and health. Seventh, oral health behavior science was the most studied subject. Eighth, validity and reliability were reported at 27.4% and 51.6%, respectively. Ninth, only 15.7% of study was founded research funding. Based on the results of this study, we consider increase experimental research further. Therefore, it is recommeded that validity and reliability should be reported in research paper, and the keywords used in the field of dental hygiene should be agreed upon.

• Korean Journal of Construction Engineering and Management
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• v.15 no.2
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• pp.112-121
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• 2014

After IMF bailout crisis in Korea, project financing has been employed as a major funding vehicle for the housing development. In 2008, the recession of housing market due to the global financial crisis had an significant impact on the increasing insolvent site of PF based housing development project, resulting in serious impact to whole economy as a chain effect. In order to resolve this vicious circle of bankruptcy, the major construction companies were urged to take over the insolvent sites and invest to them for normal project exit, and finally play a critical role in normalization of market. Therefore, this study aims to define the core factors for decision making to invest to insolvent site and find out differences among constructors, developers, financial lenders. The results from AHP analysis, the profitability was the most important factor to constructors. Moreover, even though the location merit is little less, through competitive price, we can assure that stable profitability is most important factor to decide to invest in insolvent site. In conclusion, the price is cheap, is highly feasible, if the land secured, major construction company will participate in a PF business investment. These findings were verified by the investment case of major construction company.

• Journal of Korea Technology Innovation Society
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• v.15 no.1
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• pp.47-75
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• 2012

Basic research have contributed to technological growth or economic growth in U.S. Specially recent studies say that universities also contribute to economic development through scientific activities like science research, education, technology transfers. But we can not assure whether scientific knowledge was connected to real technology or economic performance, and it is difficult to figure out the effect of scientific output. "What is the exact performance of scientific knowledge?" It is still obscure. In this context, this paper analyzes characteristics of the linkage of science and technology. Data are U.S. R&D expenditure, scientific articles, citation of articles in U.S. patents by fields and sectors. As a result, university sector has the most weight of the linkage of science and technology. But, in relative connection rate analysis, industrial sector's is stronger than any other sectors. In the field analysis, linkage of science and technology is very strong in Chemistry, Physics, Biological sciences fields. And recently the linkage was increased in the fields of Computer science, Agricultural science, Engineering. Finally, this paper supports funding policy or estimation policy of government to product of scientific knowledge. University sector is still important because it has the most weight of the linkage. Scientific knowledge of industrial sector is also important. The connection rate of industrial science is the strongest in all sectors. And this research classify the R&D type by science fields. Considering the differences of science fields is needed to product science knowledge effectively.

• Korean Journal of Social Welfare Studies
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• v.44 no.3
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• pp.237-269
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• 2013

The purposes of the study are to describe the feature of the program components, and to identify their changes in the process of designing the social work programs in the community service agencies in Korea. In order to achieve these purposes, the researchers constructed an analytical framework including 24 program components derived from the related literatures. Data was collected by questionnaires answered by the social workers who were in charge of the program development and implementation. Descriptive statistics analysis and factor analysis were applied to exam the features of the program components in 195 social service programs developed by the funds from the Community Chest of Korea and a private funding foundation. As the result of the analysis, the three noticeable features are found; (1) the agencies have very actively involved in the designing work in the process of developing practice guideline, however they have less involved in the designing work in the process of implementing program; (2) program components which are low level in design activities are intervention models, staff education, and practical ethics; (3) 8 categories of components derived from the theoretical perspective are reduced to 6 categories in the process for developing practice guidelines, finally to 4 categories in the process for implementing the programs. The implications of major findings were discussed in academic and practical perspectives in Korea, including future research works in the area.

• Korean Journal of Heritage: History & Science
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• v.49 no.3
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• pp.104-135
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• 2016

This paper aims to consider history and value of the Mingshansi Grottoes, a complex of Buddhist rock sculptures in Anyue County, Sichuan Province, China. Mingshansi Shiku, not that far from Baodingshan Grottoes at Dazu District, Chongqing City, is an important art work of Liu Benzun sect. Even though there are not many niches and sculptures in the Mingshansi Shiku, it was designated as a Major Historical and Cultural Site Protected at the National Level due to its large scale and highly valued art works in it. In the Mingshansi Grottoes there is not any information inscribed on the rockface about when the grottoes were established. Because a stone pagoda, which had information about when and by whom they were established, was collapsed, some scholars considered them to be made in North Song or early Southern Song Dynasties based only on the artistic style of sculptures of the grottoes. The School of Archaeology and Museology at Peking University recently carried out a survey documenting the Mingshansi Grottoes, and thereby the school gives an important material for studying the grottoes. The grottoes consist of a Dharma-protection Warrior niche, a statue of Guanyin and Dashizhi seated together, a standing Mahavairocana statue, a standing Manjushuri statue, a standing Wenshu and Puxian statue, a Turning Dharma-wheel pagoda (轉法輪塔 Zhuanfalunta) of Zhao Zhifeng, the founder of Liu Benzun sect. These statues are considered to be produced by an overall master plan in the Middle or Late Period of the Southern Song. The Shiku is believed to be a site at which Zhao Zhifeng performed some Buddhist rites such as Water and Land Rituals (水陸法會 Shuilufahui). Income of the ritual was also a major part of the funding for establishing large-scale Baoding Shiku at Dazu District, Chongqing City.

• Journal of the Society of Disaster Information
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• v.14 no.4
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• pp.387-398
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• 2018

Purpose: The purpose of this study is to promote the disaster safety village establishment project that fits the characteristics of rural areas by investigating and analyzing the operation cases of contents with regard to disaster safety villages in Korea and Japan. Method: The contents of project related to disaster safety villages in Korea and Japan were classified into resident participation contents, structured contents and unstructured contents, for examining the characteristics of such contents through investigation and analysis, and the contents (draft) of disaster safety village that fitted the characteristics of rural areas were presented. Result: The contents of resident participation include basic safety education, CPR education, life experience training of evacuation shelter, evacuation training, concurrent training of farming activity and disaster activity and creating a village safety map in connection with competent authorities. The enactment of an act and an ordinance for the establishment of disaster safety village, expert dispatch system, storm and flood insurance system and funding system to raise the fund for establishing a village were presented as unstructured contents. In addition, the production of self supporting evacuation shelter, wireless evacuation announcement system, disaster prevention system for a river, emergency evacuation sign, village safety map sign and the establishment of disaster prevention park were presented as structured contents. Conclusion: The unstructured contents are the establishment of foundation for preparing laws and institutions and the structured contents should be installed by utilizing eco-friendly methods in consideration of the environments of rural areas along with securing the safety. Moreover, resident participation should utilize the contents by considering various items such as age, characteristics and environments of residents in rural villages.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.22 no.6
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• pp.550-557
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• 2021

This study examined the latent groups regarding the changes and difficulties after becoming a single parent and analyzed the differences in the backgrounds and depressive levels according to each group. The data of 2,500 single parents from the 2018 Single Parent Family Survey were analyzed by Latent Profile Analysis (LPA). LPA indicated four-profile groups: 1) parenting stability group, 2) normal group, 3) economic stability group, and 4) potential-risk group. Its determinants included gender and economic status, including government funding type and employment status rather than academic status. Specifically, female single parents with an unemployed or low-income support household were more likely to be linked to the potential-risk group. In addition, the potential-risk group showed a higher depressive level than the parenting stability group, normal group, and economic stability group. The significance of this study is that distinguished intervention based on the characteristics of each group can promote the effectiveness of single-parent family support policy.