• Journal of the Korean Data Analysis Society
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• v.20 no.6
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• pp.2981-2991
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• 2018

The purpose of this paper is to examine the effect of local festivals on regional economic growth through empirical analysis of festival - economic growth relation. Theoretically, the theory of creative city is at the center of the discussion as to how festivals can influence economic growth. We used the regional convergence equation and used pooled OLS, fixed effect model, and GMM estimation method to analyze the effect of festivals on regional economic growth. According to this empirical analysis, the effect of festival variables such as the number of festivals and the festival period on economic growth has not been affected. This suggests that the effects of festivals on productivity and efficiency have not existed. This implies that the creative city theory that local festivals influence regional economic growth does not work well.

• The Journal of Economics, Marketing and Management
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• v.11 no.2
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• pp.23-32
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• 2023

Purpose: This study examines the effect of full information disclosure on seller profit when there exists information asymmetry between sellers and buyers, focusing on the risk averseness of buyers. By investigating the interaction between product quality and perceived risk through online sales data, we attempt to figure out the incentive structure of full information disclosure specifically when buyers are risk-averse, so that we can suggest more feasible information disclosure strategy to sellers. Research design, data and methodology: Our empirical model analyzes the sales data of collectible goods from a major online seller using Poisson regression. In our model, we have specifically considered risk-averseness of buyers by estimating the interaction effect between the product quality and perceived risk on seller profit, aiming for a more precise empirical analysis on sellers' incentive structure of full disclosure. Results: Our empirical analysis strongly supports the effect of interaction between product quality and perceived risk, showing that the incentive for full disclosure is much stronger when product quality is higher, and vice versa. Therefore, sellers are strongly encouraged to voluntarily reveal product weaknesses when their product quality is higher than average, while it is more profitable to hide any product defects when quality claim is lower than average. Conclusions: This study supports the related literature by confirming economic incentives for full disclosure, and also supplements and strengthens previous studies by presenting that the effect of interaction between product quality and perceived risk strongly affects seller profit. Our unique finding supports both mandatory disclosure and voluntary disclosure arguments and presents practical implications to marketing managers by suggesting that seller's incentive for revealing weaknesses depends on the level of seller's product quality.

• Journal of Korean Society for Quality Management
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• v.49 no.4
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• pp.641-654
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• 2021

Purpose: One distinctive trend in the recent industrial and technological development has been the change in the structures of industries brought by information technology, boosting the productivity of different sectors. This relation has clearly opened a path for the fourth industrial revolution to reform numerous industrial sectors, including i-fashion sectors. Therefore, in this research, we would like to present the direction of the direction policy for the fusion of the manufacturing industry and the service industry of i-fashion. Methods: In this study, an empirical time series data analysis of machinery investment efficiency and capital investment efficiency of 43 industrial sectors in manufacturing and service was conducted to show their potential and ongoing convergence toward i-fashion. Results: Most impressive as a finding in this research was that those sectors previously underinvested due to a combination of technological and financial reasons found an exit for growth. In textile and apparel sectors, that could be the i-fashion. Conclusion: One strong implication of this study is that sectoral level convergence based on technology and industry is occurring, and i-fashion is one of the industrial convergence case to be observed.

• Journal of Digital Convergence
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• v.14 no.5
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• pp.149-156
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• 2016

In today's rapidly-changing business context with technology convergence among various fields, new technology development and technology commercialization capabilities are very important to the survival and growth of small and medium-sized enterprises (SMEs). This study develops the research model based on the open innovation perspective and empirically tests it by using 2,000 data from SMEs in South Korea. The empirical analysis result reveals that SMEs' external technology collaboration network and external information network diversities have positive effects on their technology commercialization capability, and these effects are fully mediated by their new technology development capability. Based on these results, the study provides meaningful implications especially in terms of SMEs' managers who pursue entrepreneurship.

• The Journal of Economics, Marketing and Management
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• v.11 no.3
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• pp.25-35
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• 2023

Purpose: This paper examines whether foreign aid influences public sector efficiency in policy areas of administration, education, and stability. Research design, data and methodology: The study uses panel data of 77 aid recipient developing countries over the period 2000-2020 and employs various panel data techniques to estimate. Results: We found that a percentage change in foreign aid increases administrative efficiency by 0.02 to 0.04 on average ceteris paribus in the short run. On the other hand, a percentage increase in foreign aid decreases education efficiency by 0.005 to 0.006 on average. While the impact of foreign aid on the policy area of stability is insignificant. Conclusions: The empirical results of this study have important implications for both donors and aid recipient countries. It suggests that to get positive influence from foreign aid, in the area of education and stability, the recipient countries need to increase accessibility of secondary schools with quality education especially; technical and vocational. Also, the donor should provide a minimum threshold amount of foreign aid to developing countries for reforming the institutions' capacity building.

• The Journal of the Convergence on Culture Technology
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• v.10 no.1
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• pp.183-192
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• 2024

The purpose of this study is to empirically analyze the determining factors (economy, security, domestic politics, administration, and international politics) that affect the ROK-US defense cost sharing decision. Through this, we will gain a deeper understanding of the defense cost sharing decision process and improve the efficiency of defense cost sharing calculation and execution. The scope of the study is ROK-US defense cost sharing from 1991 to 2021. The data used in the empirical analysis were various secondary data such as Ministry of National Defense, government statistical data, SIPRI, and media reports. As an empirical analysis method, multiple regression analysis using time series was used and the data was analyzed using an autoregressive model. As a result of empirical research through multiple regression analysis, we derived the following results. It was analyzed that the size of Korea's economy, that is, GDP, the previous year's defense cost share, and the number of U.S. troops stationed in Korea had a positive influence on the decision on defense cost sharing. This indicates that Korea's economic growth is a major factor influencing the increase in defense cost sharing, and that the gradual increase in the budget and the negotiation method of the Special Agreement (SMA) for cost sharing of stationing US troops in Korea play an important role. On the other hand, the political tendencies of the ruling party, North Korea's military threats, and China's defense budget were found to have no statistically significant influence on the decision to share defense costs.

• Korean Journal of Organic Agriculture
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• v.22 no.4
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• pp.593-610
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• 2014

The whole world concentrates on the reduction of greenhouse gas to effectively cope with policy toward global climate change. To effectively react to climate change, even the agricultural sector requires construction of new farming systems that utilizes new and renewable energy because of rising oil prices and regulations for greenhouse gas emissions. For this reason, we need to fuse the new and renewable energy with the horticulture sector of which the light and heat energy cost accounts for great part, moreover, efforts and researches should me done which can increase income of farmers through reducing carbon dioxide and energy cost in agricultural production expenses. Therefore, this study analyzes economic feasibility and applicability of fusing geothermal heat pump and solar power facilities with high-tech glass greenhouse. As a result, it is concluded that there surely are an applicability and economic feasibility if we apply new development system that can be an alternative for problems of securing premises of existing geothermal heat pump and the RPS system as a power generation company in case of solar power. Therefore, using this analysis data, if new empirical studies fusing and implementing agriculture sector with new and renewable energy fields proliferate and be applied to actual rural and agricultural field, it will increase actual income and will become a new advanced agricultural system that effectively deals with world-wide environmental problems.

• Convergence Security Journal
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• v.23 no.2
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• pp.95-102
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• 2023

The purpose of this paper was to confirm the operational level of the military department of universities, which plays a key role in the officer training process, through empirical research and confirm meaningful results for improvement. There are 11 university military departments operated through the Army, agreements, and semi-agreement, and the Data Envelopment Analysis (DEA) was applied from the perspective of resource input and performance for each university's military department operation to analyze relative efficiency and confirm specific directions for improvement. As a result of operational efficiency analysis, 6 DMUs (Decsision Making Unit) were found to be efficient in the BCC model out of 11 DMUs, and the evaluation results could be confirmed through classification of efficient and inefficient groups through data capture analysis. This paper may be of practical value in that it checks the efficiency of the comparative university military departments and confirms specific information for development through the DEA-Additive model that reflects several evaluation factors at once. Through this, the operators of each university's military department are admitted.

• Journal of Digital Convergence
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• v.12 no.7
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• pp.65-76
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• 2014

This paper analyzes whether local public expenditures have converged during the 1985-2011 periods in Korea, using the sixteen metropolitan and provincial governments data. We analyze the convergence of per capita real local public expenditures in terms of both static view and dynamic view of convergence. Furthermore, we derive the estimating equation for per capita real local government expenditure growth function from theoretical model based on Skidmore et al.(2004)[23]. The main results from empirical analyses are such that an increase in aged people helped local government expenditures increase. Also, we found that the convergence speed of economic expenditure is greater than that of social welfare expenditure. Similarly the convergence speed of public capital expenditure is greater than that of public consumption expenditure. In the future we had better examine the convergence of local public goods taking into account their congestion rates.

• Journal of Technology Innovation
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• v.10 no.2
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• pp.91-105
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• 2002

This paper extends the empirical analysis on R&D based growth model so that the nonstationary panel unit root testing methods can be used to distinguish the exogenous growth model and R&D based growth model for the 1981-1999 period with fourteen OECD economies including Korea. Our results show that first, using U.S. and Group mean as benchmarking, the stochastic R&D productivity convergence to benchmarking is not supported in our data set. Second, the empirical results for stochastic nonconvergence to the U.S. or group mean also are robustness to panel unit root methods. We, therefore, find strong support for the implications for R&D based growth model.