• KDI Journal of Economic Policy
• /
• v.33 no.3
• /
• pp.121-161
• /
• 2011

We study incentive structures of public developers and land owners in the process of public expropriations using a sequential game model. In the model, we show that there is an incentive for the public developer to give more compensation than just compensation that are defined by law. Also the model shows that there is an incentive for the land owners to revolt strategically against the public expropriation. Then an ideal authority delegation model is introduced to resolve the problems, where an independent appraiser determines the compensation for the expropriation. In the real world, improving the independence of appraisal process is critical to make the system closer to the ideal authority delegation model. So this paper concludes by making a few policy suggestions to improve the current appraisal system.

• Journal of Korea Port Economic Association
• /
• v.27 no.2
• /
• pp.355-372
• /
• 2011

Various incentive policies for transshipment cargo have been enforced without any evaluation of the effectiveness. Therefore, the purpose of this study is to evaluate the effect of volume incentive on container transshipment cargo. To be different from previous studies, this study tries to quantitatively assess the incentive effects by using econometric techniques. The result derived from the ARIMA type models indicates that the total amount of the increased transshipment cargo during the last 7 years is about one million TEU. In the meanwhile, the multivariate long run equilibrium model implies that the increased transshipment cargo is less than 0.5 million TEU for the 7 years. Furthermore, the structural break tests indicate that the volume incentive does not change the model structures. It means that the effect of volume incentive is not statistically significant. Consequently, the test results conclude the effect of volume incentive on transshipment cargo is not significant although the volume of transshipment cargo is increased to some extent by volume incentive. Considering the magnitude of BPA's expenditure, we doubt the effectiveness of volume incentive. This study, therefore, encourages the port authority to research a more efficient way to induce transshipment cargo rather than focusing on only volume incentives.

• Health Policy and Management
• /
• v.21 no.1
• /
• pp.132-157
• /
• 2011

The purpose of this article is to examine the cause of policy non-compliance in the case of pharmaceutical rebates from the perspective of rational choice institutionalism. In Korea, there have been rebates practices between pharmaceutical companies and hospitals since the introduction of the Actual Remuneration System for insured medicine in 1999. The government has chosen the policy means of punishment to eliminate pharmaceutical rebates but the illegal practices are still widespread. Institution in rational choice institutionalism usually reflects the incentives and preferences of actors, and the Actual Remuneration System has resulted in a the lack of procedures to ensure savings on drug expenditures. Pharmaceutical rebates are the product of the institutions which reflect their incentives: the Actual Remuneration System, the current pricing policy for generic drugs, the drug distribution system, and so on. In the end, the problem of the rebates is the consequence of policy non-compliance as actors' rational choice because their incentives lead to opportunistic behaviors. We should therefore understand the incentive structure of policy stakeholders, which is derived from the view of new institutionalism; also, the newly designed Korean drug pricing policy reform must be compatible with the incentive structure.

• Smart Structures and Systems
• /
• v.19 no.4
• /
• pp.341-350
• /
• 2017

Based on the super elastic properties of the shape memory alloy (SMA) and the inverse piezoelectric effect of piezoelectric (PZT) ceramics, a kind of hybrid semi-active control device was designed and made, its mechanical properties test was done under different frequency and different voltage. The local search ability of genetic algorithm is poor, which would fall into the defect of prematurity easily. A kind of adaptive immune memory cloning algorithm(AIMCA) was proposed based on the simulation of clone selection and immune memory process. It can adjust the mutation probability and clone scale adaptively through the way of introducing memory cell and antibody incentive degrees. And performance indicator based on the modal controllable degree was taken as antigen-antibody affinity function, the optimization analysis of damper layout in a space truss structure was done. The structural seismic response was analyzed by applying the neural network prediction model and T-S fuzzy logic. Results show that SMA and PZT friction composite damper has a good energy dissipation capacity and stable performance, the bigger voltage, the better energy dissipation ability. Compared with genetic algorithm, the adaptive immune memory clone algorithm overcomes the problem of prematurity effectively. Besides, it has stronger global searching ability, better population diversity and faster convergence speed, makes the damper has a better arrangement position in structural dampers optimization leading to the better damping effect.

• Journal of the Korean Operations Research and Management Science Society
• /
• v.31 no.1
• /
• pp.25-36
• /
• 2006

Consider a supply chain in which a vendor supplies a product to a buyer. We assume that the buyer's and vendor's inventory cost structures are different, resulting in differences in inventory order/delivery cycle times. Here, if one party insists on its individually optimal order/delivery quantity, the other party will suffer from mismatches in cycle times. Under this scenario, coordination contracts that make use of either a Net Term/Two parts Term Trade Credit or a Quantity Discount are designed to align individually optimal order Quantities. We compare and analyze the perform ances of these contracts. The focus of the comparison is the ability of contracts to generate a lower cost for the supply chain. We show that a Trade Credit policy can be effectively used to coordinate a supply chain. In many cases it will result in a lower supply chain cost compared to that achieved by using a Quantitative Discount policy.

• International Area Studies Review
• /
• v.22 no.3
• /
• pp.3-27
• /
• 2018

This paper analyzes Cuba's market-oriented reforms to alleviate essential problems with socialist countries such as soft budget constraints and incentive problems. It also discuss about effectiveness of industrial policy as a development strategy. The soft budget constraints and incentive problems resulted in the collapse of Soviet bloc and COMECON in early 1990s. After the collapse, Cuban economy suffered a steep dive, and national income tumbling down rapidly. Cuban faced serious shortages of food, gasoline, and other basic necessities of life. To halt and partially reverse economic downturn and dire austerity in the 1990's, the Cuban government made some partial reforms to the inherited Soviet system of cental planningand faced severe shortage in food, energy, and daily necessities. In response to the economic crisis. Cuba introduced economic reforms and implemented industrial policy as a development strategy as long as Cuba maintained a strong socialist country. Cuban government established the economic free zone law and attempted to induce foreign direct investment by implementing export-led industrial policy. Fiedel Castro approved the Law No. 165 "Free Zones and Industrial Parks", in 1996. However, Cuba's ESZ strategy seems to have failed because of the U.S. sanctions, but also because of Cuba's own policies, which do not allow foreign investors to hire workers directly and impose a high implicit tax on wages. By limiting advanced techniques of personnel and organization management, indirect employment can result in lowering work efforts and productivity of workers, and aggravating production efficiency in the ESZs. Another reason to fail comes from the double wage structure due to the double monetary-exchange rate system. Most of the high non-wage costs result from the double exchange rate system. Due to Cuba's imbalanced industry and production structures, concentrated labor force, and urbanization and centralization of agriculture production, the industrial transformation development model suggested by Lewis has not been successful unlike other Asian agriculture-led development model. Cuba has to overcome many difficulties in implementing industrial policy as a development strategy.

• Proceedings of the Technology Innovation Conference
• /
• 1997.07a
• /
• pp.57-82
• /
• 1997

This paper empirically examines various personal characteristics and preferences of HRM (Human Resorce Mamagement) systems using data from 968 R&D professionals in 9 private R&D organizations. It identifies different patterns of reward and career development needs associated with 4 types of R&D professionals, who are categorized by personal characteristics: personality and attitude. A productive leader type shows active personal traits (which encompass high scores of need for achievement, risk-taking propensity, tolerance for ambiguity, and self-efficacy) and positive attitudes (which include high scores of job satisfaction, organizational commitment, and low scores of turnover intention), while a cynical bystander type exhibits passive personal traits and negative attitudes toward a job. A passive adapter, who has passive personal characteristics but positive attitudes, and a frustrated champion, who is active in personality but negative in current job attitude, lie in between them. The results reveal that: 1) These four different types of R&D professionals show differences in their education, age and tenure level, and technical performance. 2) They have different career orientations and problem solving styles. 3) They also exhibit different preferences in performance appraisal criteria and rater, and reward structures. Based on these findings, this study suggests a contingent type of human resource management in terms of selection and staffing of R&D professionals, performance appraisal, incentive systems, and career development plans.

• The Journal of Asian Finance, Economics and Business
• /
• v.5 no.4
• /
• pp.127-133
• /
• 2018

Corporate social responsibility (CSR) is one of the strategies for managing firms' business activities but may have heterogeneity depending on ownership structures. This study investigates the association between group-affiliation and CSR activities. Drawing on a theory from the prior research, this study predicts that group-affiliated firms are less likely to invest on CSR activities. For instance, prior research finds that controlling shareholders expropriate the values of minority shareholders. As one of the motivations of investing on CSR activities is the harmonization among the stakeholders, it leads to the prediction that firms controlled by large shareholders are less likely to engage in CSR activities. Second, group-affiliated firms under poor financial performance benefit from other group members through sharing their financial resources. Thus, there is less incentive for managers of group-affiliated firms to increase their financial performance by conducting CSR. By leveraging firms listed in Korean stock market and CSR score from Korea Economic Justice Institute, the result shows that the group-affiliation is negatively related to CSR activities. The result is consistent in case of applying propensity score-matched sample. Based on the findings of this study, this paper contributes to the related literature by showing the significant association between group-affiliation and CSR decisions.

• International Journal of Advanced Culture Technology
• /
• v.9 no.1
• /
• pp.52-57
• /
• 2021

Most internet companies in China are learning from Xiaomi Corporation's management model and to improving their organizational structures and human resource management practices. This study analyzed the development situation of Chinese Internet economy and the Internet thinking of Xiaomi which is a role model of Chinese Internet companies. In addition, we studied Xiaomi's organizational structure, human resource management, employee training, performance management and incentive system. In particular, Xiaomi's human resource management system has a great influence on the company's high performance and efficient service culture. Furthermore, the organization of Xiaomi is horizontally divided into three floors (7 key founders, department heads, and employees), each floor is managed by one founder. Xiaomi is interested in and considers not only the work of new employees, but also personal issues, and is concerned with the work of others in performance management and shares responsibility. Xiaomi adopts a unique and rational human resource management model, guaranteeing a lot of work autonomy for employees, and improving organizational performance.

• Korean Journal of Social Welfare
• /
• v.59 no.4
• /
• pp.137-162
• /
• 2007

In democracy basic rights such as political equality and participation through elections have been respected, opportunities of corporation and opposition have been guaranteed, and ability of self-learning and self-correction have been developed. These positive factors give preconditions for the welfare development in the democratic state. Because in this state adults get the suffrage and the open competition for official positions induces political parties use social policies as means to win the election. That is to say, political parties have an incentive to use various social policies to win the election. Democracy, therefore, has affinity with social policy. The affinity between democracy and social policy can be found also in Korea which was democratized in 1987. But, in Korea, the positive relationship between democracy and social policy is very weak due to the problem of constitutional structures. Korean Parliament usually enacts abstract social act and delegates the right to fill concrete contents of the social acts to the executive. Delegation itself has no problem, but excessive delegation is a problem since the executive can overuse its discretion as sacrificing the social rights of the citizen. In addition social consensus could not be achieved in this constitutional structures, which are a obstacle to establishing a political process in the Parliament to promote the welfare development through party competition. Excessive delegation should be reduced, and the Parliament should fill concrete contents of the social acts as exercising its legislative power more. Then a mechanism of welfare development can be launched in Korea.