• Journal of Korea Trade
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• 제23권8호
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• pp.27-44
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• 2019

Purpose - The purpose of this paper is to develop a tractable general-equilibrium model of examining the impact of human resource management on intra-industry trade. Commonly, managers of Korean firms are promoted internally. It necessitates a study of human resource management and its impact on an industrial equilibrium. Design/methodology - This paper relies on theoretical analysis. We build a model in firms are hierarchical; an entrepreneur, managers, and workers. All individuals have heterogeneous managerial talents, which are the main source of managerial quality. Firms search talents for prospect managers, and eventually delegate them to supervise workers. The searching incurs a sunk cost. Findings - Our finding is as follows. Country 1, relatively abundant of managerial talents, can gain more from trade than Country 2, relatively scarce of managerial talents. This is because the higher searching cost leads to the lower survival rate of firms in Country 2. Implicatively, good jobs are destroyed, and aggregate income falls in Country 2. Originality/value - According to our study, relative abundance of managerial talents affects distribution of firm size and determines trade gain. This study can contribute to the literature of organization management and trade.

• Journal of Korea Trade
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• 제23권2호
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• pp.76-87
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• 2019

Purpose - This study empirically analyzes the effects of the European Union-South Korea Free Trade Agreement on Korean exports in major sectors. Design/Methodology - This study is based on the augmented gravity model with a panel data set covering 51 countries between the years 2000 and 2015. Findings - Main findings of the present study is that the agreement has affected the chemical sector the most. Fixed effects estimation predicted a positive trade effect of 38.3%, while Poisson maximum likelihood estimation predicted an impact of 4.75% in the chemical export sector. Regression results for the other sectors only show insignificant effects. Originality/value - The findings imply that the effects of the EU-South Korea free trade agreement on the Korean exports are quite specific compared to the European ones, meaning that the Korean government should focus on sector-specific programs to maximize the welfare benefits of the free trade agreement.

• Journal of Korea Trade
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• 제23권5호
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• pp.1-26
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• 2019

Purpose - We examine the disclosures on foreign divestment from China by 77 Korean firms between 2007 and 2016 to identify the effects (and their determinants) on parent firm value. Design/methodology - We analyze how divestment affects firm value by examining the disclosure of divestment from China by Korean firms. Then, we examine the determinants of these disclosure effects using cross-sectional regression analyses. Findings - We find negative effects on parent firm value in the short and medium term, and both the KOSPI and KOSDAQ stock markets show negative correlations between foreign divestment and firm value. The parent firm's financial condition and profitability and the reason for divesting are statistically significant determinants. Practical implications - Most Korean firms in China belong to the manufacturing industry. As a result, divestment signifies a loss of important manufacturing bases and assets. Originality/value - We analyze foreign direct divestment, which has not been studied in detail previously owing to a lack of data. In addition, this research is the first to compare the disclosure effects in the KOSPI market with those in the KOSDAQ market for the same period.

• Journal of Korea Trade
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• 제23권2호
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• pp.110-126
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• 2019

Purpose - This paper examines the recently realized continuous volatility and discrete jumps of US Dollar/Euro returns using the frequency of five minute returns spanning the period from February 2010 through February 2018with periodicity filters. Design/Methodology - This paper adopts the nonparametric estimation. The realized volatility and Realized Outlying Weighted variations show non-Gaussian, fat-tailed, and leptokurtic distributions. Some significant volatility jumps in returns occurred from 2010 through 2018, and the very exceptionally large and irregular jumps occurred around 2010-2011, after the EU financial crisis, and 2015-2016. The outliers occurred somewhat frequently around the years of 2015 and 2016. Originality/value - When we include periodicity filters of volatility such as MAD, Short Half Scale, and WSD, the five minute returns of US Dollar/Euro exchange rates have smaller daily jump probabilities by 20-30% than when we do not include the periodicity filters of volatility. Thus, when we consider the periodicity filters of volatility such as MAD, Short Half Scale, and WSD, the five minute returns of US Dollar/Euro have considerably smaller jump probabilities.

• Journal of Korea Trade
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• 제23권4호
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• pp.115-130
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• 2019

Purpose - This paper examines the impact of labor market regulations on FDI and the production of foreign firms. Design/methodology - We use an index of employment protection along with data on the FDI and production of foreign affiliates that are provided by the OECD. Findings - The empirical results show that strict employment protection discourages both the production and initial entry of foreign firms, with its impact on production being larger than that on the initial entry decision. The result is robust to various specifications in which instrumental variable estimations are used by applying a unionization rate and a severance pay for redundancy dismissal as instruments, respectively. Therefore, policymakers should not limit their focus to tax incentives, cash grants, and relaxation of market regulations, but they should also extend their attention to labor market deregulation and decreasing non-wage cost to attract more foreign firms into their countries. Originality/value - This paper attempts to answer the question on the impact of employment protection rules on the foreign firm's decisions regarding production as well as initial entry.

• 아태비즈니스연구
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• 제12권3호
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• pp.101-115
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• 2021

Purpose - The purpose of this study was to examine the impact of packing regulations as a technical standard barrier on export trade. Design/methodology/approach - This study analyzed cases related to packing in major countries such as US, EU and so on. It is also show the example of export volume changed based on PRTS. Findings - First, the role of packaging and the reason why countries issued relevant packaging provisions were introduced. Then, the impacts of PRTS on export trade were expounded. And next, we focused on investigating some PRTS related cases in export trade and gave an example of export volume changed based on PRTS. Finally, we produced implications for business leaders to aware of the importance of PRTS in export. Research implications or Originality - This study provide PRTS information to traders. Trade pratitioners can respond to PRTS related regulations, actively develop PRTS technology, and take relavant to deal with PRTS barriers to eliminate or weaken the adverse effects of PRTS on export trade.

• 아태비즈니스연구
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• 제13권1호
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• pp.1-17
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• 2022

Purpose - This study was aimed to investigate whether the outcomes of green innovation brought positive effects to Chinese firms' ESG performance. Design/methodology/approach - Green innovation patents and ESG performance data of Chinese listed firms were empirically analyzed using panel data fix-effect linear estimations. Findings - The study found that green innovation performance enhanced Chinese firms' ESG performance. Also, the results showed that corporate social responsibility decoupling weakened this relationship and state ownership positively moderated this relationship, whereas corporate philanthropic giving did not have significant impact. Research implications or Originality - The findings indicated that green innovation was beneficial to enhancing corporate sustainability performance. In addition, the study highlighted the role of CSR communications and state ownership in interacting the positive effect that green innovation performance brings to corporate ESG performance.

• 아태비즈니스연구
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• 제13권1호
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• pp.317-333
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• 2022

Purpose - The purpose of this study is to investigate the interrelationships between visitor motivations, attitude, and behavioral intention toward the Harbin International Ice and Snow Festival, China. It is also to test moderating roles of gender and past travel experience between these factors. Design/methodology/approach - Data was collected from potential Chinese visitors, after which 420 usable surveys were processed. Findings - To investigate our hypotheses, we used descriptive, confirmatory factor analysis, and structural equation modeling. We found that aesthetic attractiveness, purchase of local products, and involvement had positive effects on attitude toward the festival. Attitude toward the festival had a significant effect on behavioral intention to visit. Finally, it was also found that gender and past travel experience significantly moderated the interrelationships between these factors. Research implications or Originality - Theoretical and managerial implications, as well as, suggestions for future research are discussed.

• 아태비즈니스연구
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• 제13권1호
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• pp.185-195
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• 2022

Purpose - This study attempts to analyze the determinants of inventory turnover by applying quantile regression analysis. Design/methodology/approach - By selecting the gross margin, capital intensity, and sale surprise as the determinants of inventory turnover, we investigate their effects on inventory turnover at the several quartiles (10%, 25%, 50%, 75%, 90%) of inventory turnover with quantile regression analysis. Findings - The effects of gross margin and capital intensity on inventory turnover are different for each quartile. But the effects of sale surprise on inventory turnover are not different for each quartile. Research implications or Originality -This study is the first attempt to examine the effects of inventory turnover determinants on inventory turnover by applying quantile regression analysis was not employed in the prior studies. Thus, this study is meaningful in that it shows the possible way to review inventory management strategies that can be applied differently to the firms with different inventory turnover levels.

• Journal of Sport and Applied Science
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• 제7권1호
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• pp.1-10
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• 2023

Purpose: This paper analyzed the features of Winter Olympics mascots in chronological order by examining the evolution of mascots and presented the attributes of the Winter Olympics mascots from Innsbruck 1976 to Beijing 2022. Research design, data, and methodology: This paper conducted an exploratory study on the thinking to understand the characteristics of 13 Winter Olympics Mascots through literature review. Results: First, the mascot is a fictional character, usually an artificial character that represents the locality of the host city, including animals, human figures, and local inhabitants. Second, Schneemann, Innsbruck 1976 was known as the first official Winter Olympics mascot. Third, 19 mascots out of a total of 24 mascots were created using animals. Conclusions: The six attributes of the Winter Olympics mascots were identified: friendliness, symbolic meaning, originality, diversity, value, and identity of a special location. Above all, Winter Olympics has a locality that includes areas covered with ice and snow. From this point of view, the Olympics mascot highlights the image of snow and ice and the physical environment that includes it.