• The Journal of Asian Finance, Economics and Business
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• 제7권11호
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• pp.107-115
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• 2020

This study is concerned with the relationship between firm's ownership structure and the co-movement of the stock return with the market return. Four different types of firm ownership, including managerial ownership, state ownership, foreign ownership, and concentrated ownership, are among the main features of the company's governance mechanism and have been separately documemented in the previous research to understand their impact on stock price synchronicity. We constructed the regression model, using stock price synchronicity as the dependent variable and the above four components of ownership structure as explanantory variables. The pooled OLS, the fixed effects model, and the random effects are employed to investigate the outcome of the study. Data used in the reserch are of public firms listed on the Ho Chi Minh City Stock Exchange (HOSE) during the five-year period term from 2015 to 2019. The data sample contains 235 companies from 10 industries with 1135 observations. The results revealed by the fixed effects model, the large ownership and the managerial ownership are found to have adverse effect on the stock price synchronicity, whereas the foreign ownership model is revealed to have positive influence on the stock return co-movement. The effect of the state ownership on the stock price synchronicity is not confirmed.

• 노동경제논집
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• 제34권3호
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• pp.81-117
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• 2011

본 연구는 2007년 7월부터 도입되었던 비정규직법 중 비정규직 근로자에 대한 차별적인 처우를 금지하는 규정이 기업들의 차별시정 노력에 어떤 영향을 미쳤는지를 분석하였다. 차별시정법이 기업 규모에 따라 단계적으로 적용되었다는 점에 착안하여 이중차분법을 적용하여 추정한 결과, 임금은 물론 퇴직금제도나 연차휴가 제도 또는 4대 보험 등 다양한 복리후생 분야에서 유의한 차별시정법의 효과를 발견할 수 없었다. 차별시정법이 소기의 목적을 달성하기 위해서는 기업들의 차별시정 노력이 미진한 원인에 대한 분석과 보완책이 마련되어야 할 것이다.

• 한국경영과학회지
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• 제31권4호
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• pp.105-123
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• 2006

Previous research on two-sided markets has, for the most part, concentrated on indirect network externalities between buyers alto sellers. This paper considers direct competition effect among sellers and among buyers as well as indirect network externalities. We develop an analytic model of C2C e-marketplaces and examine whether a monopolistic incumbent could successfully deter new entry into its market. We find that the effect of the number of sellers or buyers on the price of goods depends on whether sellers have decided to sell the goods using an auction or fixed pricing rule and on the characteristics of the goods. We argue that when the effect of the number of sellers on the price of goods is significantly larger than that of buyers, there is a high possibility of entry. In particular, we show that entry becomes more difficult to deter as fixed-price format is adopted more frequently or the proportion of collectables is relatively low.

• International Journal of Advanced Culture Technology
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• 제9권3호
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• pp.271-276
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• 2021

In this paper we analyze the effect of the credit period on inventory policy under trade credit with ordering cost including a fixed cost and freight cost, where the freight cost has a quantity discount. For marketing purposes, some supplier offers credit period to his buyer to stimulate the demand for the product he produces. The delay in payments during the credit period has the effect of reducing the buyer's capital opportunity cost. It is also assumed that the buyer pays the freight cost for the order and hence, the ordering cost consists of a fixed ordering cost and a variable freight cost which depends on the order quantity. As a result, the possibilities of trade credit and discounts on freight costs are expected to play an important role in the buyer's inventory policy. Based on the economic order quantity inventory model, we analyze how the buyer can determine the optimal inventory policy and we examine the effect of the length of credit period on the buyer's inventory policy.

• 국제지역연구
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• 제15권2호
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• pp.151-173
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• 2011

본 연구의 목적은 1979년부터 2008년까지 30년 기간 동안 중국에 있어서 경제성장에 영향을 미치는 중요 요소와 요소별 기여수준을 파악하기 위한 것이다. 이를 위하여 고정효과모형과 확률효과모형을 활용하였으며, 적합모델을 선택하기 위하여 Hausman 검정을 활용하였다. 본 연구의 결과 지역금융변수(rsav)가 6개 모형에서 그리고 사회간접자본변수(rsoc)가 2개 모형에서 경제성장에 대해 부(-)의 관계를 보였으나 나머지 3개 변수는 전 모델에서 경제성장에 대해 정(+)의 관계를 보이고 있는 것으로 나타나고 있다. 그리고 노동력 변수의 영향은 서부지역과 동북지역의 경우를 제외하고는 기여율이 상당히 낮은 것으로 파악되었다. 본 연구는 중국의 1인당경제성장률에 대한 각 성장요인의 의미를 찾았는데, 전국모형의 경우 자본의 기여율이 35.9%로 나타난 반면 노동기여율은 4.7% 수준에 불과한 것으로 분석되었다. 그리고 모든 모형에서 자본(rcap)이 중국경제 성장에서 가장 중요한 요인으로 입증되었다.

• Structural Engineering and Mechanics
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• 제84권5호
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• pp.675-684
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• 2022

The conventional single-degree-of-freedom (SDOF) system is appropriate for dynamic response analysis of paneltype structures without an opening. However, the typical building structures usually have four-sided fixed walls having an opening. Therefore, it may induce a considerable error when dynamic responses are estimated based on the conventional SDOF system, since the SDOF system cannot consider the effect of an opening during the SDOF analysis. For this reason, this study proposes a new SDOF system to consider the effect of an opening by adjusting its load-mass factor. The load-mass factor can be modified based on the assumption that the behaviors of the four-sided fixed wall with an opening is very similar to the behaviors of the same size wall without an opening, when the uniformly distributed blast loaded area is identical. In order to confirm a feasibility of the proposed SDOF system, a series of numerical simulations were carried out for the four-sided fixed reinforced concrete (RC) wall under a blast load. The dynamic responses estimated from the proposed SDOF system and the conventional SDOF system were compared with the dynamic responses evaluated from the finite element (FE) analysis. Especially, for the maximum dynamic responses except for 50% opening case, the proposed SDOF system had about 1.1% to 25.7% normalized errors while the conventional SDOF system had about 4.1% to 49.1% normalized errors.

• 노동경제논집
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• 제43권1호
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• pp.35-57
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• 2020

본 연구는 한국노동패널조사(KLIPS) 3~21차 자료를 이용하여 성과배분제가 교육훈련에 미치는 영향을 분석한다. 성과배분제와 관련한 내생성(endogeneity)을 통제한 고정효과 모형(fixed effects model)에 의하면, 성과배분제의 적용을 받는 근로자는 성과배분제의 적용을 받지 않는 근로자보다 회사가 시행하는 업무능력향상을 위한 교육훈련을 받을 확률이 6.8%포인트 높으며, OJT를 받을 확률은 3.3%포인트 높은 것으로 추정된다. 이러한 관계는 추정 모형에 관계없이 일관적으로 나타나며, 하위표본에서도 강건하게 확인된다. 본 연구의 추정결과는 성과배분이 교육훈련을 촉진한다는 가설을 지지하는 증거로 해석될 수 있다.

• Ocean and Polar Research
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• 제41권1호
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• pp.35-46
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• 2019

The purpose of this study is to identify factors influencing fish production of shallow-sea aquaculture in South Korea. This study employed the two-way fixed effect and random effect models based on the panel models and also the difference between GMM and system GMM models based on the dynamic panel models using the amount of fish farming production, the number of stocked fry, the number of cultured fish, the amount of inputted feed, the farming area, the number of workers, and the sales price data from 2010 to 2017. First, the two-way fixed effect model of the panel models was selected by panel characteristics, time characteristics and Hausman tests and also the model was statistically significant. As a result of the two-way fixed effect model, the number of stocked fry, the amount of inputted feed, and the number of workers were identified as factors that increase the fish production of shallow-sea aquaculture. However, the number of cultured fish and the sales price were analyzed as factors that reduce the fish production of shallow-sea aquaculture. Second, the system GMM model of the dynamic panel models was selected by Hansen test and Arellano-Bond test in order to identify whether or not the over-discrimination condition is appropriate. Based on the system GMM model, the number of stocked fry, the amount of inputted feed, the number of workers in this year and 1 year ago, the number of cultured fish 2 years ago, and the sale price 3 years ago were analyzed as factors that increase the fish production of shallow-sea aquaculture. However, the amount of fish farming production 1, 2, 3 years ago, the farming area in this year, and the number of cultured fish in this year and 1 year ago were identified as factors that reduce the fish production of shallow-sea aquaculture. In conclusion, this study suggests that it is desirable to control the amount of stocked fry rather than to expand the farming area for fish farming in shallow-sea aquaculture, so as to keep the sale price at a certain level by maintaining the appropriate amount of fish production.

• 아태비즈니스연구
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• 제12권4호
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• pp.289-297
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• 2021

Purpose - This study analyzed the correlation between economic liberalization and foreign direct investment. The purpose of this study is to seek ways to attract foreign direct investment from developing countries. Design/methodology/approach - This study analysed with observations of 19 from 2000 to 2018 using a fixed effect model, a random effect model, and a two-way fixed effect model. Findings - First, it was found that economic liberalization had a positive effect on attracting foreign direct investment in the early stages of economic liberalization. Second, it was found that economic liberalization in the deepening stage of economic liberalization had a negative effect on attracting foreign direct investment. In general, it was found that the higher the level of economic liberalization in developing countries is not accompanied by innovative changes in the industrial structure, the higher the level of economic liberalization is likely to decrease the inducement of foreign direct investment due to negative factors such as an increase in labor costs. Overall, this study approved that Economic liberalization have a non-linear (inverted U-shape) relationship with the inflow of foreign direct investment. Research implications or Originality - First, this study attempted to expand the variables for the determinants of FDI by analyzing economic factors which is a determinent of FDI. Second, economic liberalization generally has a positive effect on foreign direct investment, but it proved that it does not have only positive effects as a factor of attracting foreign direct investment in developing countries. The advantage of low wages in ASEAN countries acts as a factor for foreign direct investment, but as the degree of economic liberalization increases, the environment such as government size, guarantee of property rights, international trade freedom, fiscal soundness, and regulations change positively. On the other hand, it can be suggested that if the industrial level is less, it may lead to a loss of comparative advantage and a decrease in investment.

• 대한조선학회논문집
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• 제39권3호
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• pp.28-40
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• 2002

지면효과를 받는 2차원 날개 주위의 난류유동을 비압축성 RANS(Reynolds Averaged Navier Stokes) 방정식과 유한차분법(Finite Difference Method)을 이용하여 해석하였다. 높은 레이놀즈수에 효과적인 Baldwin-Lomax 난류모델을 사용하였다. 본 연구의 목적은 지면효과를 받는 2차원 날개단면에서의 각기 다른 두 바닥 경계조건(이동지면, 고정지면)에 따른 유동의 특성을 파악하는 것이다. Clark-Y(t/C 11.7%)날개단면의 계산 결과와 발표된 계산결과 및 실험 값과의 비교를 통해 본 수치해석 프로그램의 정확성을 검증하였다. NACA4412 날개단면에 대해 지면과의 높이변화에 대해서 두 바닥 경계조건에 대해서 유동해석을 수행하였다 계산결과에 의하면 이동지면과 고정지면에 대해서 양력과 모멘트는 별 차이가 없으나 항력은 고정지면의 경우가 이동지면의 경우보다 다소 작았다. 따라서 풍동시험에서 고정지면의 결과는 이동지면에 비해 상대적으로 저항이 낮게 평가될 가능성이 있다고 본다.