• Journal of Distribution Research
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• v.17 no.2
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• pp.93-115
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• 2012

This study empirically examines the impact of changes in market shares among retailing types on the price index. The retailing type is classified into 6 groups: department store, big mart, super market, convenient store, specialty merchant, and on-line store. The market shares of retailing types are calculated by the ratio of each retailing type monthly sales to total monthly retailing sales in which total retailing sales is the sum of each retailing type sales. We employed several price indices: consumer price index (CPI), CPI for living necessaries, and fresh food price index. In addition, this study used fundamental price indices based on 25 product families as well as 42 representative products. The empirical model also included several variables in order to control for the macroeconomic effects and those variables are the exchange rate, M1, an oil price, and the industrial production index. The data is monthly time-series data spanning over the period from January 2000 to December 2010. In order to test for the stability of data series, we conducted ADF test and PP test in which the model and length of lag were determined by the relevant previous literature and based on the AIC. The empirical results indicate that changes in market shares among retailing types have impacts on the price index. Table A shows that impacts differ as to which price index to use and which product families and products to use. For department store, it lowers the price of food and non-alcoholic beverages, home appliances, fresh food, fresh and vegetables, but it keeps the price high for fresh fruit. The big mart retailing type has a positive impact on the price of food, nut has a negative effect on clothing and foot wear, non-food, and fresh fruit. For super market, it has a positive impact on food and non-alcoholic beverages, fresh food, fresh shellfishes, but increases the price of CPI for living necessaries and non-food. The specialty merchant retailing type increases the price level of CPI for living necessaries and fresh fruit. For on-line store type, it keeps the price high for CPI for living necessaries and non-food as well as fresh fruit. For the analysis based on 25 product families shows that changes in market shares among retailing types also have different effects on the price index. Table B summarizes the different results. The 42 representative product level analysis is summerized in Table C and it indicates that changes in market shares among retailing types have different effects on the price index. The study offers the theoretical and practical implication to these findings and also suggests the direction for the further analysis.

• Korea journal of population studies
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• v.9 no.1
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• pp.41-53
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• 1986

The purpose of this paper is two-fold. One is to investigate the determinants of the demand supply of labor, and another is to project long-term demand and supply of labor. The paper consists of three parts. In the first part, theoretical models and important hypotheses are discussed: for the case of a labor supply model, issues regarding discouraged worker model, permanent wage hypothesis, and relative wage hypothesis are examined and for the case of a demand model, issues regarding estimating an employment demand equation within the framework of an inverted short-run produc- tion function are inspected. Particularly, a theoretical justification for introducing a demographic cohort variable in a labor supply equation is also investigated. In the second part, empirical results of the estimated supply and demand equations are analyzed. Supply equations are specified differently between primary and secondary labor force. That is, for the case of primary labor force groups including males aged 25 and over, attempts are made to explain the variations in participation behavior within the framework of a neo-classical economics oriented permanent wage hypothesis. On the other hand, for the case of females and young male labor force, variations in participation rates are explained in terms of a relative wage hypothesis. In other words, the participation behavior of primary labor force is related to short-rum business fluctuations, while that of secondary labor force is associated with intermediate swings of business cycles and demographic changes in the age structure of population. Some major findings arc summarized as follows. (1) For the case of males aged 14~19 and 2O~24 groups and females aged 14∼19, the effect of schhool enrollment rate is dominant and thus it plays a key role in explaining the recent declining trend of participation rates of these groups. (2) Except for females aged 20∼24, a demographic cohort variable, which captures the impact of changes in the age structure on participation behavior, turns out to show positive and significant coefficients for secondary labor force groups. (3) A cyclical variable produce significant coefficients for prime-age males and females reflecting that as compared to other groups the labor supply behavior of these groups is more closely related to short-run cyclical variations (4) The wage variable, which represents a labor-leisure trade-off turns out to yield significant coefficients only for older age groups (6O and over) for both males and females. This result reveals that unlike the experiences of other higer-income nations, the participation decision of the labor force of our nation is not highly sensitive with respect to wage changes. (5)The estimated result of the employment demand equation displays that given that the level of GNP remains constant the ability of the economy to absord labor force has been declining;that is, the elasticity of GNP with respect to labor absorption decreasre over time. In the third part, the results of long-term projections (for the period of 1986 and 1995) for age-sex specific participation rates are discussed. The participation rate of total males is anticipated to increase slightly, which is contrary to the recent trend of declining participation rates of this group. For the groups aged 25 and below, the participation rates are forecast to decline although the magnitude of decrease is likely to shrink. On the other hand, the participation rate of prime- age males (25 to 59 years old) is predicted to increase slightly during 1985 and 1990. For the case of females, except for 20∼24 and 25∼34 age groups, the participation rates are projected to decrease: the participation rates of 25∼34 age group is likely to remain at its current level, while the participation rate of 20∼24 age group is expected to increase considerably in the future (specifi- cally, from 55% in 1985 to 61% in 1990 and to 69% in 1995). In conclusion, while the number of an excess supply of labor will increase in absolute magnitude, its size as a ratio of total labor force is not likely to increase. However, the age composition of labor force is predicted to change; that is, the proportion of prime-age male and female labor force is projected to increase.

• The Korean Journal of Financial Management
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• v.25 no.4
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• pp.25-51
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• 2008

In this paper, we analyse empirically the fixed asset investment smoothing of working capital of firms listed on Korea Securities Market. The main results of this study can be summarized as follows. Firms will seek to lower long-term cost by smoothing fixed asset investment and maintaining stationary investment with working capital. Working capital is not only an important use of fund, but also a source of liquidity that should be used to smooth fixed asset investment relative to cash flow shocks if firms face financial constraints. Working capital investment is more sensitive than fixed asset investment to cash flow fluctuations. If firms face financial constraints, working capital investment will compete with fixed asset investment for the limited pool of available cash flows. So, fixed asset investment will have negative relationship with working capital investment. However, criticism that the positive correlation between cash flows and fixed asset investment could arise simply because cash flows is proxy variable for investment demand. Finally, controlling for the fixed asset investment smoothing effects of working capital results in a much larger estimate of the long run impact of financial constraints. Financial constraints is measured by dividend payout ratio and market access level. Fazzari et al. (1988), Fazzari and Petersen (1993), and Faulkender et al. (2008) emphasize that low dividend firms or market unaccessible firms are more likely to face financial constraints, and rarely make use of new equity issuing. The results from empirical analysis show that financial constraints can be better explained using 'adjustment cost' concept. Specifically, the results show that financial constraints exist and that in order to measure financial constraint effects more succinctly, fixed asset investment smoothing effects with working capital should be considered.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.12 no.4
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• pp.1-14
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• 2017

New business management methods different from the past are necessary because of the rapid changes of the corporates' environment. KOSDAQ(Korean Securities Dealers Automated Quotation) companies should be expected the more affirmative business performance of companies by listing, but it is a well-known that they have problems of low business performance mostly. This paper aims to investigate the influential factors on enhancing corporate innovation and nonfinantial business performance, and to clarify practical measures and present a solution of KOSDAQ companies' problems through analysis of previous researches and an empirical research. This research present corporate entrepreneurship and human resources innovation as impact factors on the business performance to apply finely the path of technological innovation for the solution of the relevance investigation limit between the complexity of corporates' innovation paths and the firms' performance. And also knowledge management activities and external networks management or the firms have been adopted as a corporate innovation activities for free from quantitative measures, such as conventional research and development(R&D) activities by considering recent corporates' knowledge business operations. The results of the empirical analysis shows that significant impact factors on corporate innovation activities are the firms' propensities of competitive advantage initiative, risk taking and chief executive officer's innovation. These can be interpreted that the CEOs' innovation propensity should be enhanced for stimulating corporate's innovaton activities, which include the CEOs' interest in the development of new technology, the exploiting new businesses and their support of the innovation discipline for employees. In addition, it can be said that it is necessary to intensify more initiatives within those enterprise for enhancing the competitive advantage in the identical industry. The significant impact factors of corporate entrepreneurship and human resource innovation on the non-financial performance are resulted as the propensities of firms' competitive advantage initiative, CEOs' innovation and employees' innovaton. This shows that the higher propensities of firms' competitive advantage initiative, CEOs' innovation and employees' innovaton, the higher the cognitive degrees of business performance within each corporate, which include the members' awareness about firms' sales growth, market share growth, profit ratio growth, customers' preference and corporates' awareness.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.19 no.3
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• pp.27-40
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• 2024

This study empirically derives the factors affecting the practice of corporate social responsibility (CSR) of venture firms in Korea from the perspective of Slack Resource Theory and the company's growth strategy, and provides implications for future expansion of venture firm's CSR activities. In Korea, venture firms have grown into important players in the national economy since the late 1990s through social contributions such as economic value creation, job creation, and technological development. As venture companies grow in status, positive relationships with stakeholders and responsibility for environmental and social values are required. Now, CSR is becoming an important strategic choice for SMEs and venture firms. However, until now, CSR-related academic research has mainly focused on large or listed corporations, and there is not much research on SMEs or venture firms. In particular, research on the factors that lead venture companies to make important business decisions of participating in CSR activities is not there yet. This study applied logistic multiple regression analysis using the '2023 Survey on Venture Firms' conducted by the Ministry of SMEs and Startups. As a result of this study, operating profit, which is an available resources of venture companies, and government support, which is a potential resource, have a positive impact on venture firms's CSR activities. Also, business relationships with large corporations and expectation for future cooperation also have a positive impact on CSR activities as the determinants. On the other hand, it was analyzed that in venture firms where ownership and management are not separated, the higher the CEO's shareholding ratio, the more negatively it affects CSR activities. This study contributes academically as the first empirical study on the determinants of CSR activities of venture firms in Korea and provides implications that government policy support and collaboration between large corporations and venture firms are important in order to expand CSR activities of venture firms.

• Journal of Intelligence and Information Systems
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• v.14 no.2
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• pp.179-192
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• 2008

This case study shows constructing the knowledge-based system using a rule-based approach for detecting illegal transactions regarding money laundering in the Korea Financial Intelligence Unit (KoFIU). To better manage the explosive increment of low risk suspicious transactions reporting from financial institutions, the adoption of a knowledge-based system in the KoFIU is essential. Also since different types of information from various organizations are converged into the KoFIU, constructing a knowledge-based system for practical use and data management regarding money laundering is definitely required. The success of the financial information system largely depends on how well we can build the knowledge-base for the context. Therefore we designed and constructed the knowledge-based system for anti-money laundering by committing domain experts of each specific financial industry co-worked with a knowledge engineer. The outcome of the knowledge base implementation, measured by the empirical ratio of Suspicious Transaction Reports (STRs) reported to law enforcements, shows that the knowledge-based system is filtering STRs in the primary analysis step efficiently, and so has made great contribution to improve efficiency and effectiveness of the analysis process. It can be said that establishing the foundation of the knowledge base under the entire framework of the knowledge-based system for consideration of knowledge creation and management is indeed valuable.

• Journal of the Korea Concrete Institute
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• v.25 no.4
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• pp.439-446
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• 2013

The objective of this study is to evaluate the workability and various mechanical properties of heavyweight magnetite concrete and examine the reliability of the design equations specified in code provisions. The main parameters investigated were the water-to-cement ratio and substitution level of normal-weight coarse aggregate (granite) for magnetite. The oven-dried unit weight of concrete tested ranged between 2446 and $3426kg/m^3$. The measured mechanical properties included compressive strength development, stress-strain curve, splitting tensile strength, moduli of elasticity and rupture, and bond stress-slip relationship of concrete. Test results revealed that the initial slump of heavyweight magnetite concrete increased as the substitution level of normal-weight coarse aggregate increases. The substitution level of normal-weight coarse aggregate had little influence on the compressive strength and tensile resistance capacity of heavyweight concrete, while it significantly affected the modulus of elasticity and stress-strain curves of such concrete. The design equations of ACI 349-06 and CEB-FIP provisions mostly conservatively predicted the mechanical properties of heavyweight magnetite concrete, but the empirical equations for modulus of elasticity and splitting tensile strength need to be modified considering the unit weight of concrete.

• The Journal of the Korea Contents Association
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• v.20 no.11
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• pp.131-144
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• 2020

Political connection are widespread in many countries and are a hot topic in economic research right now. In China, companies are actively forming political connections in several ways. Based on the research model and theoretical analysis, this thesis puts forward the research hypothesis and constructs the research model of political connections and corporate performance using the financial data and corporate governance data of China A-share listed real estate companies in 2010-2014. The thesis mainly analyzes the political association of CEO. For the analysis result, this research uses the univariate regression analysis and multivariate analysis to carry out the robustness test. The empirical study analysis includes three parts: firstly, in Chinese listed real estate enterprises, CEO political connection has a significantly negative correlation with corporate performance. It means real estate enterprises whose CEO has political connections gain a lower performance than other enterprises; Secondly, from the personal characteristics of the CEO, age, sex and education level have positive relationship with the performance of the enterprise, the additional post situation negatively related to the firm's performance; Finally, the firm's scale liquidity ratio and capital asset rario have a negative relationship with corporate performance, and the number of top managers is positively related to corporate performance. This research made a study on the political connection in Chinese real estate industry, which could also provide beneficial references for the development of enterprises in this industry.

• The Journal of the Korea Contents Association
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• v.20 no.11
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• pp.268-280
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• 2020

This research conducted an empirical analysis of factors that influence the process of job choices and start-ups among the youth. By conducting a comparative analysis on 6 countries with adequate career systems and booming startup industries (China, Indonesia, the UK, Germany, Israel, the US.). The statistical sample is based on the Global Entrepreneurship Trend Ratio and covers a total of 7,082 youth across 7 countries. Multivariate variance analysis and correlational analysis were conductedto compare the average figures among different countries and analyze the regulation effect of parental influence. Job satisfaction, parental influence, and willingness to change future job were selected as the factors that influence job choices. Korea's job satisfaction was the lowest among 7 countries and a willingness to change future job was the highest. Meanwhile, Korea's parental influence was at a medium level among 7 countries. It was proven that job satisfaction had a quasi-control effect on the process of influencing willingness to change future job. Entrepreneurial education, willingness to start-up, job satisfaction, and parental influence were chosen as the factors that influence start-up. Two-way ANOVA were conducted to comparatively analyze each country's average, mutual influence among different factors, and analyze the regulation effect of parental influence. In all countries, start-up education has the effect of raising the willingness to start-up. Also, it was verified that parental influence had a quasi-control effect in the process of career satisfaction influencing the willingness to start-up. The research results will provide meaningful implications for the government and educational institutes including universities when designing policy directions to guide overall career for the youth in the future.

• Journal of the Earthquake Engineering Society of Korea
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• v.24 no.6
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• pp.253-266
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• 2020

The extended slip-weakening model was investigated by using a compiled set of source-spectrum-related parameters, i.e. seismic moment M_o, S-wave velocity V_s, corner-frequency f_c, and source-controlled high-cut frequency fmax, for 113 shallow crustal earthquakes (focal depth less than 25 km, M_W 3.0~7.5) that occurred in Japan from 1987 to 2016. The investigation was focused on the characteristics of stress drop, radiation energy-to-seismic moment ratio, radiation efficiency, and fracture energy release rate, G_c. The scaling relationships of those source parameters were also investigated and compared with those in previous studies, which were based on generally used singular models with the dimensionless numbers corresponding to f_c given by Brune and Madariaga. The results showed that the stress drop from the singular model with Madariaga's dimensionless number was equivalent to the breakdown stress drop, as well as Brune's effective stress, rather than to static stress drop as has been usually assumed. The scale dependence of stress drop showed a different tendency in accordance with the size category of the earthquakes, which may be divided into small-moderate earthquakes and moderate-large earthquakes by comparing to M_o = 10¹⁷~10¹⁸ Nm. The scale dependence was quite similar to that shown by Kanamori and Rivera. The scale dependence was not because of a poor dynamic range of recorded signals or missing data as asserted by Ide and Beroza, but rather it was because of the scale dependent V_r-induced local similarity of spectrum as shown in a previous study by the authors. The energy release rate G_c with respect to breakdown distance D_c from the extended slip-weakening model coincided with that given by Ellsworth and Beroza in a study on the rupture nucleation phase; and the empirical relationship given by Abercrombie and Rice can represent the results from the extended slip-weakening model, the results from laboratory stick-slip experiments by Ohnaka, and the results given by Ellsworth and Beroza simultaneously. Also the energy flux into the breakdown zone was well correlated with the breakdown stress drop, ${\tilde{e}}$ and peak slip velocity of the fault faces. Consequently, the investigation results indicate the appropriateness of the extended slip-weakening model.