• Journal of Distribution Science
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• v.16 no.1
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• pp.87-99
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• 2018

Purpose - The Export Infrastructure Strengthening Program(EISP) is a project to expand exports of agri-food products through providing customized export information to food distribution companies and supporting overseas information activities. A total of 39.6 billion won was provided by 2016. So, the purpose of this study is to analyze whether EISP is effective for expanding exports of agri-food products. Research design, data, and methodology - A simple average difference between the export performance of the policy beneficiaries and the non-policy beneficiaries can be biased if the export capacity or inherent characteristics of the enterprise are not taken into consideration. In order to solve the problem of such a bias, the propensity score matching(PSM) method has been employed in this study. PSM is a method of converting the characteristics of an export company into an index through logit analysis and then reducing the matching to one dimension to improve the accuracy of the performance measurement. Results - The balancing test was conducted to determine how the characteristics of the policy beneficiary group and the matched policy non-beneficiary group corresponded to each other. As a result of the test, we could not reject the null hypothesis that there was no difference between the two groups, so that after the matching, the two groups were similar and the explanatory variables were well controlled. Using the nearest neighbor matching with propensity score estimating through logit analysis, we estimated average treatment effect on the treated(ATT). The food companies participating the EISP had the effect of increasing the exports of $ 5.88 million. As a result, the number of export contracts increased by 11.77, the number of exporting countries by 7.52, the number of export items by 47.51, and the number of buyers' consultation by 3.50. And overseas marketing expenses increased by 35.92 million won. Except for the number of export contracts, other export performance results showed statistically significant results. Conclusions - As the EISP has a positive effect on the expansion of agro-food exports, efforts should be made to find out the limitations or problems of the policy in the future and to make a greater contribution to the increase of exports.

• Environmental and Resource Economics Review
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• v.19 no.1
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• pp.101-127
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• 2010

The purpose of the research is to tackle proximity effects (PEs) when nonmarket valuation method CVM is applied to environmental goods such as tidal flats. 1,000 households are surveyed in the ratio of national household for the research. The sample are reclassified into five areas by 30-minute distance. Log-linear are used to analysis PEs in the research. On conclusion log-linear model regarding income effects proves that PEs are apparently represented in NMVMs(${\theta}_1$ >0. ${\theta}_2$ >0 and $dum1{\neq}0$, $dum2{\neq}0$, $dum3{\neq}0$, $dum4{\neq}0$) as a result of a 5 per cent significant level of t -test and F-test, finally rejecting the null hypothesis. In addition, WTP of area I respondents shows 26 per cent more then that of area V respondents, which is from \87,969 to \64,866 in the open-ended format. Finally, the research proves that the PEs in CVM are evidently represented with the econometric model, hence the PEs have to be embedded into the questionnaire of non-market valuation methods with the environmental goods to reduce the underestimation and improve the estimation accuracy.

• Environmental and Resource Economics Review
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• v.23 no.2
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• pp.187-224
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• 2014

We present key issues to consider in estimating damages from price-fixing cases and then apply the procedure addressing those issues to a transportation fuel market. Among the five methods of overcharge calculation, the regression analysis incorporating the yardstick method is the best. If the price equation relates the domestic price to the foreign price and the exchange rate as in the transportation fuel market, the functional form satisfying both logical consistency and modeling flexibility is the log-log functional form. If the data under analysis is of time series in nature, then the ARDL model should be the base model for each market and the regression analysis incorporating the yardstick method combines these ARDL equations to account for inter-market correlation and arrange constant terms and collusion-period dummies across component equations appropriately so as to identify the overcharge parameter. We propose a two-step test for the benchmarked market: (a) conduct market-by-market Spearman or Kendall test for randomness of the individual market price series first and (b) then conduct across-market Friedman test for homogeneity of the market price series. Statistical significance is the minimal requirement to establish the alleged proposition in the world of uncertainty. Between the sensitivity analysis and the model selection process for the best fitting model, the latter is far more important in the economic analysis of damage in price-fixing litigation. We applied our framework to a transportation fuel market and could not reject the null hypothesis of no overcharge.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.13 no.5
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• pp.2096-2109
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• 2012

This study investigates empirical issues that have received little attention in the previous research in the Korean capital market. It is to find any financial determinants on the capital structure for the firms listed in the KOSDAQ(Korea Securities Dealers Automated Quotation). Another test is performed to find any possible discriminating factors by utilizing a robust methodology, which may distinguish between the firms belonging the 'prime section' and the 'venture section' in terms of their financial aspects. Moreover, the null hypothesis that the changing trend or movement of a firm's capital structure with respect to its industry mean (or median) may be random, is also tested. For the book-value based debt ratios, size(INSIZE), growth(GROWTH), Market to book value of equity(MVBV), volatility(VOLATILITY), market value of equity (MVE) and section dummy (SECTION) showed their statistically significant effects on the book-value based leverage ratios, respectively, while size(INSIZE), growth(GROWTH), market value of equity(MVE), beta(BETA) and section dummy (SECTION) showed their statistically significant effects on the market-value based leverage ratios. This study also found an interesting result that a firm belonging to each corresponding industry has a tendency for reversion toward its mean and median leverage ratios over the five-year tested period.

• Journal of Korean Society for Geospatial Information Science
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• v.22 no.2
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• pp.33-40
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• 2014

At present, Cadastral map of 2 dimensional is in the stream of changing it to 3 dimensional type supported by GPS and laser techniques. In addition, this steam can be explained at the same time with improvement of equipment of storing much information, support of equipment for imaginative 3D spatial information, and support of equipment of expressing land in 3D Cadastral. This study suggest to apply airborne lidar survey technique on cadastral map to acquire comparably and quickly detailed height of ground. For doing this, this study checked out credibility regarding accuracy of airborne lider survey. After choosing research area, this study has done the airborne lidar survey and acquire the result after surveying Cadastral Comparison Point to check out the accuracy of acquired results. In addition, this study check out the result of Cadastral Comparison Point and airborne lidar survey applied by paired sample t-test based on actual results. The result is that test statistics is 0.322 which is 5 % similar level and null hypothesis cannot be rejected, so this study found out that result of both survey ways are the same. Therefore, the result of airborne lidar survey can be utilized to build up 3D Cadastral information hereafter.

• Proceedings of the Korea Environmental Mutagen Society Conference
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• 2002.05a
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• pp.36-42
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• 2002

Diesel exhaust (DE) has been recognized as a noxious mutagen and/or carcinogen, because its components can form DNA adducts. Mechanisms governing the susceptibility to DE and the efficiency of such DNA adduct formation require clarification. The transcription factor Nrf2 is essential for inducible and/or constitutive expression of a group of detoxification and antioxidant enzymes, and we hypothesized that the nrf2 gene knockout mouse might serve as an excellent model system for analyzing DE toxicity. To address this hypothesis, lungs from nrf2(-/-) and nrf2(+/-) mice were examined for the production of xenobiotic-DNA adducts after exposure to DE (3 $mg/m^{3}$ suspended particulate matter) for 4 weeks. Whereas the relative adduct levels (RAL) were significantly increased in the lungs of both nrf2(+/-) and nrf2(-/-) mice upon exposure to DE, the increase of RAL in the lungs from nrf2(-/-) mice exposed to DE were approximately 2.3-fold higher than that of nrf2(+/-) mite exposed to DE. In contrail, cytochrome P4501Al mRNA levels in the nrf2(-/-)mouse lungs were similar to those in the nrf2(+/-) mouse lungs even after exposure to DE, suggesting that suppressed activity of phase II drug-metabolizing enzymes is important in giving ise to the increased level of DNA adducts in the Nrf2-null mutant mouse subjected to DE. Importantly, severe hyperplasia and accumulation of the oxidative DNA adduct 8-hydroxydeoxyguanosine were observed in the bronchial epidermis of nrf(-/-) mite following DE exposure. These results demonstrate the increased susceptibility of the nrf2 germ line mutant mouse to DE exposure and indicate the nrf2 gene knockout mouse nay represent a valuable model for the assessment of respiratory DE toxicity.

• Journal of Korea Port Economic Association
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• v.26 no.4
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• pp.63-87
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• 2010

The purpose of this paper is to measure the efficiency of Korean container terminals by using SFA(Stochastic Frontier Analysis). Inputs[Number of Employee, Quay Length, Container Terminal Area, Number of Gantry Crane], and output[TEU] are used for 3 years(2002,2003, and 2004) for 8 Korean container terminals by applying both SFA and DEA models. Empirical main results are as follows: First, Null hypothesis that technical inefficiency is not existed is rejected and in the trasnslog model, the estimate is significant. Second, time-series models show the significant results. Third, average technical efficiency of Korean container terminals are 73.49% in Cobb-Douglas model, and 79.04% in translog model. Fourth, to enhance the technical efficiency, Korean container terminals should increase the handling amount of TEUs. Fifth, both SFA and DEA models have the high Spearman ranking of correlation coefficients(84.45%). The main policy implication based on the findings of this study is that the manager of port investment and management of Ministry of Land, Transport and Maritime Affairs in Korea should introduce the SFA with DEA models for measuring the efficiency of Korean ports and terminals.

• Journal of Korea Port Economic Association
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• v.28 no.3
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• pp.111-125
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• 2012

This study investigates the behavioral characteristic difference of the container volumes of three ports-Gwangyang, Incheon, and Pyeongtaek-Dangjin. All series span the period January 2003 to December 2011. I first test whether the series are stationary or not. I can reject the null hypothesis of a unit root in each of the level variables and of a unit root for the residuals from the cointegration at the 5 percent significance level. I hitherto make use of error-correction model and find that Gwangyang port is the slowest in adjusting the short-run disequilibrium, whereas the adjustment speed of Incheon is much faster than that of Gwangyang. The impulse response functions indicate that container volumes increase only a little to the negative shocks in exchange rate, while they respond positively to the shocks in the business activity in a great magnitude and decay very slowly to its pre-shock level. meaning that the shocks last very long. The accumulative response to the exchange rate increase of 20 won per dollar and the 5 point industrial production increase is the smallest in Gwangyang, no more than a half of that of two ports. The intervention-ARIMA models also forecast that Gwangyang port will have much lower growth rate than Incheon and Pyeongtaek-Dangjin port in trading volumes.

• Journal of Korea Port Economic Association
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• v.29 no.3
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• pp.25-37
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• 2013

This study investigates the export behavior of port of Pyeongtaek-Dangjin and Daesan. The monthly data cover the period from January 2002 to December 2012. This paper tests whether the exchange rate and the industrial production are stationary or not, rejecting the null hypothesis of a unit root in each of the level variables and of a unit root for the residuals from the cointegration at the 5 percent significance level. The error-correction model is estimated to find that Daesan port is faster than Pyeongtaek-Dangjin in adjusting the short-run disequilibrium. This paper finds that the exchange rate coefficient of Daesan port is higher than that of Pyeongtaek-Dangjin port, while the industrial production coefficient of the former is much smaller than that of the latter. The industrial production coefficient is, however, much higher than the exchange rate coefficient in both ports. The rolling regression shows that the influence of exchange rate and industrial production tends to increase in Pyeongtaek-Dangjin port but tends to decrease in Daesan. The impulse response functions indicate that export volumes respond much greater to the positive shocks in industrial production than in exchange rate, and the exchange rate shock decays very fast, while the industrial production shock lasts very long.

• Journal of Korea Water Resources Association
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• v.39 no.12 s.173
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• pp.997-1012
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• 2006

We have presented a nonparametric stochastic approach for the SOI(Southern Oscillation Index) series that used nonlinear methodology called Nonlinear AutoRegressive(NAR) based on conditional kernel density function and CAFPE(Corrected Asymptotic Final Prediction Error) lag selection. The fitted linear AR model represents heteroscedasticity, and besides, a BDS(Brock - Dechert - Sheinkman) statistics is rejected. Hence, we applied NAR model to the SOI series. We can identify the lags 1, 2 and 4 are appropriate one, and estimated conditional mean function. There is no autocorrelation of residuals in the Portmanteau Test. However, the null hypothesis of normality and no heteroscedasticity is rejected in the Jarque-Bera Test and ARCH-LM Test, respectively. Moreover, the lag selection for conditional standard deviation function with CAFPE provides lags 3, 8 and 9. As the results of conditional standard deviation analysis, all I.I.D assumptions of the residuals are accepted. Particularly, the BDS statistics is accepted at the 95% and 99% significance level. Finally, we split the SOI set into a sample for estimating themodel and a sample for out-of-sample prediction, that is, we conduct the one-step ahead forecasts for the last 97 values (15%). The NAR model shows a MSEP of 0.5464 that is 7% lower than those of the linear model. Hence, the relevance of the NAR model may be proved in these results, and the nonparametric NAR model is encouraging rather than a linear one to reflect the nonlinearity of SOI series.