• Asia-Pacific Journal of Business
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• v.14 no.3
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• pp.1-16
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• 2023

Purpose Despite the ongoing digital transformation, it is not clear whether emerging market firms follow their manufacturing FDI path in the emerging digital industries. This paper examines how digital orientation affects the location strategies in internationalization and how the existing innovation capacities moderate the link between digital orientation and the location strategies. Design/methodology/approach This study chooses the Chinese setting for research design because digital transformation is already prevalent in the society and the cases of outward expansion are salient among the emerging markets. It uses the panel dataset of 976 Chinese listed firms that consists of 6,648 observations spanning from 2007 to 2017. Ordinary least square regression is used for the statistical approach with a one-year lag in the model. Findings Digital orientation increases a likelihood of emerging multinationals' entries in developed countries, and a high level of innovative capacities strengthens the link. Two groups seem to prefer entries in developed countries: firms with a high level of digital orientation with a high level of innovative capacities and firms with a low level of digital orientation, if with a low level of innovative capacities. The former reflects the context of digital transformation and the latter hints at the tax avoidance or interests in real estate. Research implications or originality While emerging multinationals are known to prefer entries in developing countries for capacity arbitrage, our results forecast that their FDI strategies may have a drastic change as digital transformation deepens.

• Journal of the Korean Geographical Society
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• v.48 no.2
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• pp.272-287
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• 2013

This paper describes the importance of selecting explanatory variables(e.g. land price determinants) in hedonic pricing models employed in predicting real estate price, and explores dynamics of the land price determinants over time. The City of Junju was chosen as the study area, and repeated measured price data of standard lots over 17 years were analyzed. We applied a three-level modeling approach to this data in consideration of its nested data structure and longitudinal characteristics. Main land price determinants we focused on are primarily based on items included in the standard comparison table of land price, which is an official hedonic pricing model used by Government to estimate land price for tax levy. Our result shows that the land price fluctuation over 17 years was not uniform over the whole study area with each neighborhood revealing different price trend, and as such warrants longitudinal model components. In addition, some of determinants previously recognized as important were proved insignificant. It was also found that significant determinants at a particular time point lost its power gradually over time and vice versa. It is expected that more accurate prediction of price would be possible when taken account for this dynamics of price determinants over time in applying hedonic pricing model method.

• Journal of Digital Convergence
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• v.8 no.3
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• pp.19-37
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• 2010

One of the core issues in the realization of e-government is the effective implementation of a website. The current trend of e-government is developing individual web sites and portals, covering such fields as education, tax, economics, real estate, travel, and health. Evaluating e-government web sites is essential for improving web sites. These principles can be included in usability in a broader concept. Website usability has attracted considerable research on website evaluation and has been regarded as one of the most important criteria for measuring and evaluating websites. Usable e-government web sites make citizens willing to search for helpful information or solve their civil applications. The objective of this paper is to suggest an Analytic Hierarchy Process (AHP) method for evaluating e-government web sites. The proposed AHP method has two special characteristics compared to general AHP approaches. First, all citizens who are e-government users can evaluate both the usability criteria and the web sites, but the weighting mechanism differs between criteria and web sites. Secondly, a pairwise comparison is time-consuming and not cost effective with many criteria. Therefore for evaluating a website with respect to a sub-criterion, we develop checklist items as measure scales with a seven-point rating. This method is efficient as it enable us to avoid the pairwise comparison mechanism between sub-criteria. A new computation procedure for the AHP is developed that combines and synthesizes priorities of portals in the case that two decision maker groups are involved.

• Korean Journal of Soil Science and Fertilizer
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• v.37 no.4
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• pp.288-291
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• 2004

The development of land classification and soil productivity rating systems (SPR) are examined for their application to valuation of agricultural land in South Dakota, USA. For current and impending environmental and agricultural land issues, there is virtually no hard data available. Therefore, the study works with government and private sector clients to identify needs, and develop and apply a variety of techniques to mine data and carry out appropriate assessment methods. The application of SPR data to land valuation work conducted by real estate appraisers, tax assessors, and economists are discussed along with an assessment of its benefits and limitations. However, the actual value of the agricultural land can be determined by fulfilling the agricultural's vision of protecting and improving the environment by agricultural activities besides the safe food production. Therefore, it is increasingly important that we understand the impacts of farming and forestry on land, water and air.

• Korean Journal of Construction Engineering and Management
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• v.9 no.3
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• pp.95-107
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• 2008

Recently, a size of the domestic construction industry Has been reduced rapidly, and its economic slump Has been continued with the government real estate stabilization and tax policies. Moreover, as the reconstruction of apartments that has been added high value to the construction companies has been on the stake of high risk with delays of reconstruction start and finance restriction policies, an uncertainty of the construction markets and the competitions between the construction companies has been increased. At this point, the establishment of a collaboration relationship between construction companies has been recognized as one of the methodologies to respond actively on these uncertainties and fierce competitions. A collaboration relationship between construction companies is based on the balanced cooperation relationship for surviving together, and should be maintained on the complement and specialized collaboration between big, middle and small contractors. This paper propose a model of practical collaboration relationship to cooperate together between prime and subcontractors in Korean construction companies based on the analysis of questionnaires to the collaboration status between general and subcontractors in the Gangwon area.

• Journal of Digital Convergence
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• v.17 no.1
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• pp.55-62
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• 2019

This study analyzed the relationship between housing price, purchase price, Gini coefficient, interest rate, and the employment, considering that the change in housing price was an important factor influencing macroeconomic variables and income inequality. The panel VAR model was constructed considering the panel data, and the Granger causality, Impulse response and Variance dispersion analysis were performed. As a result, when compared to before and after the global financial crisis, it was shown that the rent price had an effect on income inequality, but in the following period, both the rent price and the selling price affected the income inequality. And that it has a large impact on inequality. In addition, the causality between income inequality and employment rate, interest rate, and tax rate was confirmed. Therefore, it is expected that it will be a desirable policy to mitigate income inequality considering the influence of policy variables for economic activation including government real estate policy.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.21 no.12
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• pp.387-394
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• 2020

The aim of this study is to improve the "empty house problem" in Korea. The direction of improvement of systems in Korea was considered and compared with empty house systems in the United Kingdom, France, Germany, the United States, and Japan. Korea's system is based on comprehensive regulations centered on the demolition of empty houses. To actively solve the problem of unoccupied houses, detailed guidelines are needed, which must consider the current status and surrounding environment of empty houses. There should be institutional grounds for local governments to actively intervene in the issue of empty houses, and there should be a system that enables tax and cost support for the reuse of such houses. An information sharing system is also needed for sharing empty house information among local governments. To utilize empty houses as resources for the housing market, it is necessary to establish a consultative system consisting of residents, urban and architectural experts, and private businesses.

• Journal of Distribution Science
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• v.12 no.4
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• pp.31-39
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• 2014

Purpose - This study investigates the following two issues. First, we attempt to find the important determinants of housing investment and to identify their significance rank using survey panel data. Recently, the expansion of global uncertainty in the real estate market has directly and indirectly influenced the Korean housing market; households demonstrate a sensitive reaction to changes in that market. Therefore, this study aims to draw conclusions from understanding how the impact of financial strength of the household is related to house investment. Second, we attempt to verify the effectiveness of diverse indices of financial strength such as DTI, LTV, and PIR as measures to monitor the housing market. In the continuous housing market recession after the global crisis, the government places top priority on residence stability. However, the government still imposes forceful restraints on indices of financial strength. We believe this study verifies the utility of these regulations when used in the housing market. Research design, data, and methodology - The data source for this study is the "National Survey of Tax and Benefit" from 2007 (1st) to 2011 (5th) by the Korea Institute of Public Finance. Based on this survey data, we use panel data of 3,838 households that have been surveyed continuously for 5 years. We sort the base variables according to relevance of house investment criteria using the decision tree model (DTM), which is the standard decision-making model for data-mining techniques. The DTM method is known as a powerful methodology to identify contributory variables for predictive power. In addition, we analyze how important explanatory variables and the financial strength index of households affect housing investment with the binary logistic multi-regressive model. Based on the analyses, we conclude that the financial strength index has a significant role in house investment demand. Results - The results of this research are as follows: 1) The determinants of housing investment are age, consumption expenditures, income, total assets, rent deposit, housing price, habits satisfaction, housing scale, number of household members, and debt related to housing. 2) The impact power of these determinants has changed more or less annually due to economic situations and housing market conditions. The level of consumption expenditure and income are the main determinants before 2009; however, the determinants of housing investment changed to indices of the financial strength of households, i.e., DTI, LTV, and PIR, after 2009. 3) Most of all, since 2009, housing loans has been a more important variable than the level of consumption in making housing market decisions. Conclusions - The results of this research show that sound financing of households has a stronger effect on housing investment than reduced consumption expenditures. At the same time, the key indices that must be monitored by the government under economic emergency conditions differ from those requiring monitoring under normal market conditions; therefore, political indices to encourage and promote the housing market must be divided based on market conditions.

• The Journal of the Korea Contents Association
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• v.18 no.3
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• pp.472-485
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• 2018

The purpose of this study is to analyze debt zeroing policy process of Yong-in city based on the Kingdon's Multiple Stream Framework in order to contribute to strengthening financial capacity and competitiveness of local governments. This study focused on the Yong-in case because the city had a local debt of about KRW 800 billion as of 2012, but it completed the debt repayment in early 2017. The results are as follows. First, policy problem streams are the perception of Yongin City's debt indicator, the failure of the LRT project, and the failure of sale of buildinglots of Yukbuk district. Second, in the political stream, there have been the election of new governors, cooperation of local administration and citizens like budget cut. Third, policy alternative streams are the reduction of large-scale investment projects, the expansion of revenues through the sale of idle shared properties, the increase of tax revenues, and the activation of light rail. As the each streams flowed independently, the window of policy change opened by the revitalization of the real estate market and the sale of buildinglots of Yukbuk distric and combined with other policy factors such as the activation of the light rail. In this process, the role of the policy entrepreneurs such as negotiation and persuasion of the related institutions influenced achieving tight fiscal policy. As a result of this policy output, Yongin City achieved zero debt. This study suggests that it is necessary not only the importance of the role of policy entrepreneurs but also of the administrative and citizen cooperation and the institutional complement such as a large scale of the investment review system.

• Journal of the Economic Geographical Society of Korea
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• v.17 no.3
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• pp.502-516
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• 2014

This study has decomposed the Gini coefficient using Korean Labor & Income Panel Study data and empirically analyzed the impact of demographic characteristics and source-specific income of householder on the household income gap using panel analysis. The scope of areas were divided into 'nationwide,' 'metropolitan areas,' and 'non-metropolitan areas,' and the period before and after the global financial crisis was examined. The analysis findings are as follows. First, when the entire period was examined by income source using Gini decomposition with division of areas into 'nationwide,' 'metropolitan areas,' and 'non-metropolitan areas', the following results were revealed. The absolute and relative contribution level of property income to the gross income was the largest in the category of 'nationwide' and 'metropolitan areas,' while the contribution level of earned income was the largest in the category of 'non-metropolitan areas'. In addition, property income worsened the household income gap the most in the category of 'nationwide' and 'metropolitan areas.' Second, property income worsened the household income gap less after the financial crisis than before the crisis. It is probably because the price of real estate skyrocketed before the global financial crisis, worsening the household income gap, whereas the price drop after the crisis temporarily alleviated the gap. Third, a correlation analysis revealed that households with older householders whose education is high school graduation or below had relatively low gross income, and households with higher source-specific income, especially earned income, had relatively high gross income. Fourth, when the household income determinants were compared through panel analysis with division of areas into 'nationwide,' 'metropolitan areas,' and 'non-metropolitan areas,' the following results were obtained. While the impact of earned income, financial income, and other incomes was greater in non-metropolitan areas than in metropolitan areas, the impact of property income was greater in metropolitan areas than in non-metropolitan areas. To reduce the income gap, the government should impose higher taxes on the high-income class and provide tax benefits to the low-income class, with efforts to create a wide variety of jobs. In addition, since income inequality gets worse as the proportion of incomes generated through asset holdings becomes higher, the government should focus on stabilizing property prices while paying attention to the regional differentiation when carrying out related policies.