• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.6
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• pp.39-50
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• 2022

Based on the signaling theory, this study examined whether startups are more likely to attract venture investment when receiving government R&D subsidies. First, we reviewed previous studies of the investment decision-making process of venture capitalists and understood the conditions that influence investment decisions. Based on previous studies on the signal effect of government subsidies, particularly government R&D grants, on inducing private fund investment, this study revealed a mechanism to induce venture investment by startups. In addition, in order to verify whether government R&D subsidies have the effect of inducing venture investment, an empirical analysis was conducted based on data from startups under seven years and certified as a venture companies in 2021. This paper used PSM(Propensity Score Matching) method and DID(Difference In Difference) analysis for an empirical study to analyze the average treatment effect on the treated group(beneficiary startups of government R&D grants). As a result of empirical analysis, companies that receive more government R&D subsidies after starting a business are more likely to attract venture investment. From two to three years after conducting the first government R&D project, startups that received government R&D grants attracted more venture investment than those that did not. The results of this paper demonstrate that government R&D projects can also affect the venture investment ecosystem, giving policy implications to government R&D projects targeting startups. It is also expected to suggest strategic implications to startups that need new funding.

• Management & Information Systems Review
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• v.36 no.5
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• pp.1-26
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• 2017

In the meantime, research on corporate informatization focuses on the completeness of information technology itself and its financial effects, so there is insufficient research on whether information technology can support business strategy. It is necessary to verify whether the management strategy implementation of the company can be led through the informatization of the enterprise and the relation between the main mechanism factors and the informatization performance. In this study, what a mechanism factor is applied in the process of result creation of informatization from three mechanism perspectives such as selecting mechanism, learning mechanism and coordinating mechanism with cases of representative domestic IT company and what an importance mechanism factors have been ascertained. This study results in 8 propositions. For a main agent of companies, securement of information capability of organizations has been selected to realize informatization results and investment of informatization has been selected to solve organizational decentralization problems as the most important factor. Additionally, as competition in the industry gets fierce, investment on informatization has been changed to a utility way of implementation of strategies and decision on investment has been made through the official process and information technology. Differentiated company capability has been made based on acquisition of technical knowledge and company information has been expanded to its whole employees through the information system. Also, informatization change management and outside subcontractor management have been acknowledged as an important adjustment factor of company. The first implication of this study is that since case studies on mechanism factors that preceding studies on informatization results did not empirically cover have directly been dealt with based on experiences of executives in charge of business and in charge of informatization, this study can provide practical views about factors that should be mainly managed for informatization results of IT companies. Secondly, since ser-M framework has been applied for IT companies for the first time, this study can academically contribute to companies in other fields about main mechanism factors for result creation of informatization based on deeper understanding and empirical cases.

• Journal of Korea Technology Innovation Society
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• v.3 no.2
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• pp.94-110
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• 2000

This article prospects the patterns of technological innovation in the steel industry and suggests the directions of technological innovation in Korean steel industry. Technological innovation patterns can be analysed through technological trends, innovation-inducing mechanism, and innovators' relationships. In the technological trends, direct coupling of manufacturing processes, lasting growth of mini-mill, and the importance of technological integration are prospected. In the innovation-inducing mechanism, while production system will be specialized, the development of new steel materials and environment-friendly technological innovation will be accelerated. In the innovators' relationships, steel industry faces more complex competition and new forms of inter-firm cooperation including M&A, joint venture, and joint R&D. In order to cope with such changes in the technological innovation patterns, Korean steel industry need to establish core competence based on technological innovation through a great leap in R&D investment, the production of high value-added products, the development of new generation steel technologies, strategic joint R&D, comprehensive technological cooperation, and government's active support.

• Journal of the Korean Operations Research and Management Science Society
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• v.12 no.1
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• pp.157-157
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• 1987

Hydro-electric power generation from multi-purpose dams has been playing important roles in the electric power supply network in Korea. Although the total share of hydro power in national electricity supply now becomes very small, the peak-shaving and frequency control capability of hydro power helps the power company enormously in maintaining the quality of power. But since the company that builds and operates the multi-purpose dams in Korea has to sell all the electricity produced to the monopolistic utility, there have been various problems in justifying the investment, designing pricing mechanism, and controlling operations of the power plants. In addition, economic evaluation of the hydro power has been distorted by a variety of reasons and hence it has been very difficult to encourage effective development and utilization of national water resources. To make the problem worse, both parties are public companies with X-inefficiency problems. Thus, changing environment requires to reengineer the system that governs hydro power generation. We address the problems of Korean hydro-electric power generation system in four areas: the investment justification process, the operations decison right of the hydro power plants, the pricing of the purchased-power, and the negotiation of contract revision. Then we propose improvement directions of new hydro-electric power system in view of static and dynamic efficiency, X-inefficiency and equity.

• Korean Management Science Review
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• v.12 no.1
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• pp.157-173
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• 1995

Hydro-electric power generation from multi-purpose dams has been playing important roles in the electric power supply network in Korea. Although the total share of hydro power in national electricity supply now becomes very small, the peak-shaving and frequency control capability of hydro power helps the power company enormously in maintaining the quality of power. But since the company that builds and operates the multi-purpose dams in Korea has to sell all the electricity produced to the monopolistic utility, there have been various problems in justifying the investment, designing pricing mechanism, and controlling operations of the power plants. In addition, economic evaluation of the hydro power has been distorted by a variety of reasons and hence it has been very difficult to encourage effective development and utilization of national water resources. To make the problem worse, both parties are public companies with X-inefficiency problems. Thus, changing environment requires to reengineer the system that governs hydro power generation. We address the problems of Korean hydro-electric power generation system in four areas: the investment justification process, the operations decison right of the hydro power plants, the pricing of the purchased-power, and the negotiation of contract revision. Then we propose improvement directions of new hydro-electric power system in view of static and dynamic efficiency, X-inefficiency and equity.

• Journal of Arbitration Studies
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• v.23 no.4
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• pp.29-53
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• 2013

Chinese ISD has been changed a lot since the reformation policy in 1978 and it is expected that China will present a changed attitude toward its advantage as its industrialization continues to advance. This study generally examines the ISD in BIT and also considers not only the attitude of China with regard to ISD but also the changes on the Chinese side. Moreover, this study determines the areas on which the Chinese government focuses. In order to conduct this study, the author attempts to classify the attitudes on ISD into chronical change and treaty powers based on the analysis of BIT. In addition, the paper examines the main contents of ISD in BIT which previously involved an agreement such as arbitral institution, arbitral range, counter-measures of local country, standard for admitting the nationality of corporate investors, and recognition and enforcement of arbitral award. Based on analysis, this paper mentions matters that require attention and caution in the Korea-China FTA as regards investment negotiation, and also suggests instructions for investors who may face dispute with the Chinese government.

• The Journal of Asian Finance, Economics and Business
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• v.6 no.2
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• pp.75-82
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• 2019

The paper aims to investigate the impacts of long-term savings motives on fostering household participation and contribution to savings mechanisms in rural Vietnam. The paper is organized in five parts: introduction, data description, methodology, empirical results, and conclusion. The quantitative methodology is employed and three simultaneous estimation methods, including instrumental variable model, two-step model, and Heckman model are used to test these impacts as well as the robustness of results. In each model, the paper examines the impacts of independent factors on both household participation and household contribution to savings mechanisms. Two sets of independent variables: long-term savings motives (profit-making investment, accumulation for big expenditure, providing for old age, and cost of educations) and control variables (dependency rate, number of people in household, and household wealth) are in each model. A set of dataset of 2,314 households for analysis is obtained from household survey in rural Vietnam. Robust statistical findings indicate that profit-making investment emerged to be the strongest motive fostering household participation to savings mechanisms while other long-term savings motives have little or no impact on fostering household participation to savings mechanisms. In addition, education investment encourages household contribution to savings mechanisms in rural Vietnam.

• International Journal of Computer Science & Network Security
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• v.22 no.2
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• pp.107-114
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• 2022

The main purpose of this study is to substantiate the theoretical and methodological foundations of the organizational and economic mechanism of development of the agro-industrial complex in modern conditions. Organizational and economic mechanism is presented as a complex organizational structure of the system type, which is aimed at performing specific functions, the characteristic feature of which is the constant support of process changes without which the organizational and economic mechanism can not exist. There are four components of the agro-industrial complex, represented by agriculture and the national economy, which ensure its operation, including industry, processing of agricultural products, its storage and transportation, sale and repair and maintenance of agricultural machinery and more. It is proved that the organizational and economic mechanism of development of agro-industrial complex in modern conditions it is expedient to consider: from the point of view of system and process approaches; as a set of economic levers and organizational measures to influence the agro-industrial complex; constituent components of organizational influence on the development of the complex; a set of components, elements that are integrated into the system of economic relations of the subjects of the agro-industrial complex; a set of purposeful stimulators of agro-industrial complex development. The functions of the organizational component of the mechanism of agro-industrial complex include: redistributive, planning, interaction, control, integration and regulatory functions, the functions of the economic component include consumer, investment and innovation, social, incentive, monitoring functions of the mechanism. The symbiosis of the functions of organizational and economic components ensure the effectiveness of the organizational and economic mechanism of the organizational and economic mechanism through its functionalities as a whole.

• Management & Information Systems Review
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• v.19
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• pp.49-81
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• 2006

The private college education plays a crucial role both in training and supplying manpower needed for national economic growth and in increasing employability and personal labor earnings of individual workers. In oder for private college education to effectively respond to the rapid changes in industrial and occupational structures, it is necessary to secure appropriate level of investment funds and manage them efficiently. For this, it is required to discuss the structure, magnitude and management mechanism of the current private college education finance, changes in future demand for private college education and resultant changes in budget estimates, and new financial resources and allocation schemes. This study attempted to analyze current status and problems of private college education finance in Korea and, based on this analysis, to suggest future policy directions to improve private college education finance system. In order to make the private college education system in Korea competent and competitive enough to survive in international market, it is prerequisite to provide enough budget for the private college education and to manage the private college education finance in more efficient ways. First, for securing the adequacy and stability of investment budget for the private college education, it is recommended to 1) increase the government budget and put emphasis on the private college education; 2) diversify financial resources and induce financial contribution from private sector such as school juridical persons and enterprises. Second, for higher efficiency of financial management, it is recommended 1) make valid allocation standards and mechanism; 2) introduce competition system; 3) develop and utilize evaluation mechanism for the private college education finance to check adequacy, efficiency, accountability, and effectiveness; 4) apply consumer-oriented financial management scheme. In addition to the above policy measures, it is necessary to 1) make scientific forecasts of industrial and occupational structures periodically and apply these analyses to medium & long-term the private college education planning; and 2) redesign budget accounting system and develop the private college education performance indicators for the evaluation of accountability of the private college education institutions and administration institutes.

• Proceedings of the Korea Water Resources Association Conference
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• 2022.05a
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• pp.211-211
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• 2022

The marketization reform from the open-door policy in 1978 was not only booming export-oriented industries with foreign investment but also expanding the role of private actors in the Chinese water sector. Private Sector Participation (PSP) has become an important element in developing urban infrastructure by providing better services with advanced facilities. The rapid development of PSP-driven urban water infrastructure in China has a positive impacted on Chinese economic development, particularly in coastal areas. PPPs in some coastal areas have successfully spread out over China since China applied the first Build-Operate-Transfer (BOT) mode in the water sector in the early 1990s. The market-oriented water and wastewater, Public-Private Partnership (PPP) mechanism in the initial period of China has been transformed into a state-dominated PPP mechanism. The development pattern of the water and wastewater PPPs in China has been divided in four stages: the first period from 1984 to 2002, the second period from 2003 to 2008, the third period from 2009 to 2014, and the last period after 2015. The study aims to investigate the successful process of water and wastewater PPPs in local areas through five socioeconomic elements: export-oriented economic strategy, urbanization, cheap land policy, infrastructure investment, and water issues and climate change. In addition, the study focuses on analyzing the extent to which the Chinese government re-asserted its control over the PPP mechanism by classifying five elements in three different development Phases from early 2000 to 2020. The Jiangsu Province in the estern coastal area has actively invited PPP projects in the water and wastewater sectors. The successful introduction and rapid growth of PPPs in the urban water infrastructure has made the province an attractive area for a foreign investor.