• International Area Studies Review
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• v.20 no.2
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• pp.63-83
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• 2016

This paper examines the determinants of efficiency in a KOSDAQ-listed manufacturing firm. We use Data Envelopment Analysis (DEA) to estimate the efficiency of the export manufacturing firm. We employ two inputs (number of employees, equity) and one output (sales) in the DEA. The determinants of export manufacturing firm efficiency are estimated using the panel Tobit model. An analysis of 369 export manufacturing firms from 2013 to 2015 indicates the following results: First, the R&D intensity, the wage and salary intensity, total asset, and equity ratio each had a negative impact on both the CCR and BCC efficiency scores. However, export intensity had a negative impact on CCR efficiency scores in a KOSDAQ-listed total export manufacturing firm. Second, the R&D intensity had a positive impact on both the CCR and BCC efficiency scores, but export intensity, the wage and salary intensity, and equity ratio each had a negative impact on the CCR and BCC efficiency scores in a KOSDAQ-listed large export manufacturing firm. Third, the R&D intensity, the wage and salary intensity, total asset, and equity ratio each had a negative impact on both the CCR and BCC efficiency scores; respectively, in a KOSDAQ-listed small and medium export manufacturing firm.

• International Area Studies Review
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• v.22 no.2
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• pp.61-91
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• 2018

Credit Guarantee scheme is one of the most effective tools for the small business policy. The performance analysis on domestic institution level is relevant in terms of various factors of assisting tools factor. This study measured comparative global efficiency by DEA model and Super-efficiency model among 70 credit guarantee institutions in Japan, Taiwan, and Korea who are operating the schemes. At the result of the analysis, Korean credit guarantee institutions are comparatively efficient than Japanese institutions, and the DMU shows moderate in operation efficiency. The Super-efficiency ranked by Hiroshima, Taiwan SMEG, Pusan, Chiba, Shizuoka, Ulsan, and KOTEC. Most of the Credit Guarantee Institutions showed increasing returns to scale, and it indicates increasing input strategy. The statistical difference of efficiency level in Japan and Korea shows very meaning numbers. This research suggest that (1)Periodical Analysis are needed on Japanese Schemes, (2)The analysis on the impact of credit guarantee scale to the national economy and SME policy, (3) Analysis on the conclusive factors of the efficiency, (4)The policy direction has to be made by inefficient factor analysis, (5) The measurement tools of efficiency of the schemes in various aspects.

• International Area Studies Review
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• v.22 no.1
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• pp.123-140
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• 2018

This paper analyzes herd behavior observed in the loan market from 2001 to 2014 using a panel data on commercial banks including state-owned banks, domestic private banks, foreign banks, and Islamic banks. The paper finds evidence that herd behaviors of domestic private and foreign banks have been pronounced and long-lasting around the 2008 global financial crisis when state-owned banks did not show such a behavior. This result shows that since private banks tend to be keen on maximizing profits and avoid financial risks exposed by lending during a financial crisis, their lending decisions are not independent but dependent on whether other banks increase loans or not. On the other hand, Islamic banks do not show herd behavior during the financial crisis. This finding is consistent with earlier studies that Islamic banks have different characteristics, such as profit and operation mechanisms, from other private banks. Another interesting finding is that when it comes to rural loans, all the banks' herd behavior is short-lived and the herding indexes are quite volatile. This finding is attributable to distinct features of rural loans. Usually maturities of rural loans are shorter than city loans and related to the cycle of farming. Agricultural production is heavily dependent on unpredicted factors, such as floods and droughts, not previous year's production. Lastly, the paper finds a herding across bank type that state-owned, foreign, and Islamic banks follow domestic private banks'lending decisions.

• International Area Studies Review
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• v.15 no.3
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• pp.29-53
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• 2011

This paper studies the contribution of imports and inward foreign direct investment (FDI) as a vehicle of technology transfer onto the EU new member states at both macroeconomic and industry level. The paper takes the effectiveness of the recipient's utilization into account by constructing a new index, the so-called Effective Absorption (EA) Index, to measure ability to absorb and utilize the foreign technology in the recipient country. Using data from 12 donors and 10 recipients from 1998 to 2009, the study at macroeconomic level indicates that technical spillovers of foreign research and development (R&D) play more crucial role relatively to domestic R&D on total factor productivity (TFP) growth of the new member states. Imports are found as the major vehicle of technical spillovers rather than inward FDI. The study at industry level is conducted by using data from 17 manufacturing industries of 10 donors and 6 recipients during 1998 to 2009. The empirical results also support the findings at country level. The patterns of technology transfer are different across industries. Nonetheless, technical spillovers exhibit significantly high contribution on TFP growth in high-tech manufacturing industries.

• Journal of Technology Innovation
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• v.27 no.2
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• pp.99-122
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• 2019

ODA (Official Development Assistance) aims for practicing international humanitarianism in developing countries. However, ODA donors also seek to find convincing evidence meeting the national economic & political interests in the international community. In this regards, precise & unbiased estimation of the policy effects of ODA aid on the donors' exports to the recipient countries has recently become one of the primary concerns of the ODA donors, especially developing countries including Korea of which economy structure heavily relies on exports for economic growth. Based on the basic gravity model, this study empirically analyzes the effects of technical cooperation ODA delivering skills, knowledge and technical know-how on Korea's exports to the ODA recipient countries using 10-year panel data from 2007 to 2016. Specifically, by incorporating major variables affecting trade such as GDP, distance, FDI etc, the effect of technical cooperation ODA on Korea's exports to the ODA recipient countries is estimated with various kinds of panel models. As a result, technical cooperation ODA has a statistically significant impact on Korea's exports to ODA recipient countries, especially in the exports of intermediate goods. And the detail process of this black-boxed mechanism is scrutinized through case studies on Uzbekistan, The Philippines, and Morocco.

• Journal of the Korea Society of Computer and Information
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• v.26 no.9
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• pp.201-212
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• 2021

This study aims to empirically measure K-pop fans' content and the extent of online activities. To achieve the purpose of the study, the researchers identify the statistically significant online activities that determine the intensity of fan attachment toward K-pop artists. Further, the research confirms the relative importance of various meaningful online activities. Consequently, we can develop the K-pop Online Activity Index (KOAI) model and apply it to this index model empirically for each respondent. We found that the model consists of five online activities of K-pop fans: whether joining the fan club or not, whether paying per view V live+ or not, whether watching VODs associated with artists or not, the degree of fan club writing, the degree of watching a lot on YouTube to improve the value of my artists. This study has practical significance in that it allows K-pop marketers to improve their marketing performance by providing content that will enable them to more efficiently and effectively allocate marketing resources to various online activities to get fan responses. It allows accumulating academic knowledge to understand the behavior in the field of online behavior for K-pop fans.

• Journal of the Economic Geographical Society of Korea
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• v.23 no.4
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• pp.373-394
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• 2020

The strengthening of multilateral international sanctions against North Korea has raised questions as to how effective they are in exerting pressure on the country's economy. In this paper, we address this question by examining their impact on the country's integration into regional and global apparel production networks. North Korea has in the past decade become an increasingly competitive exporter of apparel on the basis of consignment-based processing arrangements. Official trade data shows a sharp drop in North Korean exports of clothing since the sectoral ban in 2017. There is evidence to suggest, however, that exports have continued on a more informal and clandestine basis. North Korea's integration into apparel production networks has also taken the form of the dispatch of workers to factories in China's northeastern border regions. Yet there is evidence that the recent sanctions imposed on such practices has similarly led to illicit practices such as working on visitors' visas, often with the help of Chinese enterprises and local government. The resilience of North Korea's integration into apparel production networks follows a capitalist logic and is result of the highly profitable nature of apparel production for all actors concerned and a correspondingly strong desire to evade sanctions. As such, the analysis contributes to the literature on sanctions that suggests that the measures may contribute to emergence of growing informal and illicit practices and to the role of the clandestine economy.

• International Area Studies Review
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• v.21 no.4
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• pp.223-245
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• 2017

This study is examined interaction between carbon market with stock market using a multivariate GARCH(DCC) model. Carbon market is EU ETS EUA price, stock market is the iron and cement stock price which has relatively energy intensive and massive carbon emissions sector in the industrial sector. It also analyzed changes in the correlation between the markets through an analysis of correlation coefficients. Moreover, it checked whether there was marketability expansion(or expansion of carbon emissions reduction) through the analysis above. As a result of empirical tests, it showed that the price spillover effect was insignificant. In addition, it represented that there was a weak correlation between the two markets since the volatility spillover effect disappeared in the second phase by an external shock(a financial crisis). Moreover, it was revealed that there were no significant changes although there was a weak upward trend in terms of the correlation between the carbon market and the stock market. This implies that emission rights could not expand marketability to financial market as a commodity(or did not play its natural role of the reduction of carbon emission).

• Journal of Legislation Research
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• no.54
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• pp.345-382
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• 2018

Sports events are not copyrighted and sports organizer's profit from sports events is not subject to intellectual property law in our legislation. Most other countries, except for France, do not also recognize sports organizer's profit as an intellectual property right. For this reason, legal grounds protecting sports organizer's profit must be found from current law such as tort law or Unfair Competition and Trade Secret Protection Act. It is irrefutable that these laws play a significant role in protecting sports organizer's profit by imposing restrictions on taking unfair advantage of others' efforts or investment. Nevertheless, protecting sports organizer's profit through such laws has its limits because sports events and relevant information outside the protection category of intellectual property law are considered as public domain. Therefore, introduction of sports organizer's intellectual property right through legislation will serve to faithfully protect sports organizer's profit. Even countries where spectator sports industry is fully in force actively discuss the issue of introducing sports organizer's intellectual property right. Intellectual property law, like other laws, is keenly subject to international trends due to market globalization and sensitively responds to the trends. I believe that further discussions are highly required about the introduction of sports organizer's intellectual property right that properly reflects international trends.

• International Journal of Computer Science & Network Security
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• v.21 no.5
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• pp.183-191
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• 2021

The advanced development of the world's economies requires a detailed study of the impact of factors on the level of digitalization, to ensure economic growth and promote the use of information and communication technologies in the digital economy. Digitalization of the world's economies is ensured through the implementation of relevant regulations and policy decisions to implement public policy and strategy of the digital economy. The purpose of the study is to establish the pattern of the impact of factors on the level of digitalization of world economies by conducting a regression analysis to reflect the dependence of the impact of factors on the level of digitalization in 25 economies (by IMD digital competitiveness), to check the level of digitalization of the world's economies. It is necessary to analyze the ranking of countries in the world according to the DiGiX Index, IMD, and DESI Digital Competitiveness Rating. Research methods: information synthesis method; regression analysis; systematization, and generalization. Results. It was found that because of regression analysis, the value of the coefficient of determination indicates that the regression model by 78% explains the relationship between future readiness of countries to implement digital technologies and information and communication technologies, but there are still a small number of other factors not included in the regression model. It is determined that the greatest progress among EU member states for the period 2015-2020 according to the DESI index belongs to Ireland, the Netherlands, Malta, and Spain. It is established that Estonia, Spain, and Denmark are in the lead in the DESI rating, in terms of e-government implementation. The study found that the impact of factors on the level of digitalization of world economies contributes to solving current economic problems through further implementation of information and communication technologies and improving legislation in the digital economy, which will ensure the implementation of effective digital policy. It is established that ensuring the appropriate level of digitalization of the world's economies should solve the problems in the digital economy sector faced by governments and businesses, which requires the implementation of measures to regulate and ensure the continued operation of the digital economy.