• KDI Journal of Economic Policy
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• v.40 no.1
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• pp.1-30
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• 2018

Ongoing demographic changes have brought about a substantial shift in the size and age composition of the population, which are having a significant impact on the global economy. Despite potentially grave consequences, demographic changes usually do not take center stage in many macroeconomic policy discussions or debates. This paper illustrates how demographic variables move over time and analyzes how they influence macroeconomic variables such as economic growth, inflation, savings and investment, and fiscal balances, from an empirical perspective. Based on empirical findings-particularly regarding inflation-we discuss their implications on macroeconomic policies, including monetary policy. We also highlight the need to consider the interactions between population dynamics and macroeconomic variables in macroeconomic policy decisions.

• Journal of National Security and Military Science
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• s.2
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• pp.201-235
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• 2004

This paper provides a simple microeconomic model of terrorist attcks and anti-terrorism policies. The terrorists can be characterised as rational actors, choosing between legal activities and terrorist activities to promote their political goals. Since their resources are limited, one can think of anti-terrorist policies by examining how such policies affect the objectives and constraints of terrorists. Deterrence policy seeks to reduce terrorist attacks by raising the cost of undertaking terrorist acts. Proactive policy aims at preventing attacks by destroying terrorists' resources (fund, personnel, leadership). This paper suggests another type of anti-terrorist policy which is to reduce the benefits of (or in other words, raising the opportunity costs of) terrorist acts. Such a policy is based on decentralisation in political decision-making and economic power.

• Informatization Policy
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• v.21 no.4
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• pp.3-19
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• 2014

Crowd-funding platforms, which enable to collect funds from individuals, have recently gained growing interests around the world. This study intends to provide future research directions for the crowd-funding by reviewing past research works. For this purpose, two research themes are selected - (1) motivations to participate in crowd-funding and (2) critical success factors for the project funding. The motivations are analyzed from both perspectives of fund demanders and suppliers. The critical success factors are investigated by using four dimensions: fund demanders, fund suppliers, relationships between demanders and suppliers, and project characteristics. Using the implications found from the past research, this paper offers future research issues necessary for the growth of crowd-funding platforms.

• Knowledge Management Research
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• v.21 no.2
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• pp.21-40
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• 2020

Korea Credit Guarantee Fund(KODIT) is a public financial institution under the provision of the Korea Credit Guarantee Fund Act. Facing the waves of change both locally and globally, KODIT will serve as 'social value creator' in making a paradigm shift from a large corporation(Conglomerate-dominated) economy to a social enterprise-oriented one based on social economy. This study focuses on the supporting service programs for social enterprises and job creation how it affects the performance of social value creation of KODIT. There is currently no detailed research of the social value in terms of the business and management academic agenda. Therefore, the present study describes the importance of social value creation on the policy financial institution. This study conducted in-depth case study for social value performance. As a public policy financial institution, KODIT exert diverse efforts to correct market failure and achieve inclusive growth. For example, KODIT extends credit guarantee services for the liabilities of promising corporations and stimulates financial and non-financial supporting programs for social enterprises. Although the role of social value and social economy has gained business field attention, few investigations have been conducted to explain how social value is achieved. The present study can thus act as the foundation for exploring the social value creation in the circumstances of public financial institution.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.11
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• pp.147-156
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• 2020

This study aims to analyze the effect of public spending, macroeconomic variables, and BPK opinion on economic growth. This study is motivated by the inequality of fiscal policy effectiveness between regions in Indonesia in influencing the economic growth of different regions, the ability of local governments to attract foreign investors, and the transparency of regional financial management in designing development programs to encourage regional economic growth. The analytical tool in this study is a dynamic panel regression model with data from 2008 to 2017. The results of this study show that, in the short term, the population affects regional economic growth, while in the long term, the economic growth is affected by the number of people, the poor, General Allocation Fund, health budget, foreign investment and BPK opinion. The findings of this study are that in the long term the General Allocation Fund becomes an obstacle to economic growth, this is because the general allocation funds is widely used to cover the lack of funds for routine regional activities, thereby reducing activities for development programs. Another research finding is that fiscal policies carried out by local governments make a small and ineffective contribution to promoting economic growth.

• International Commerce and Information Review
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• v.11 no.4
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• pp.419-444
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• 2009

In this paper, we use case studies to analyze the supporting programs of policy funds for Korean and Japanese small and medium-sized enterprises(SMEs). It is found that supporting firms are suitable to the excluded companies from financial institutions and excellent corporate credit rating. It is also shown that subordinated loan program as well as loan limit can be enlarged policy funds with priming water of private funds. Moreover, it shows that credit guarantee funding has a positively significant influence on long-term funding facility. Therefore, this findings can improve the complementary relationship between policy funds and financial institutions.

• 한국벤처창업학회:학술대회논문집
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• 2007.11a
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• pp.327-352
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• 2007

The loan rate of the government loan program offered by the Small Business Corporation(SBC) can be determined as a sum of three factors such as a reference interest rate, a policy aim spread, and a credit risk spread. However the loan rate has been lower than the loan rate in the banking sector. The profit has continually run in the red figures and hence the stability the fund managed by the SBC has been damaged. Even though a policy aim spread could be emphasized, the stability and profitability of the fund should be prioritized. This means that the loan rate of the SBC should be determined such that the loss might not be occurred. This requires the policy aim spread to change from relatively large negative to near zero.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.12 no.2
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• pp.41-54
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• 2017

The purpose of this study is to find out how the support system of the government and the local governments for enhancing the success rate of the startup firms affected the performance of the enterprises according to the behavior characteristics of the founders. It is divided entrepreneurial support system into entrepreneurial policy support such as entrepreneurial education, mentoring and consulting, and funding of startup support such as policy fund and R & D fund, distinguished the behavior of founder into behaviors for discovery of entrepreneurial opportunities and behaviors for exploiting entrepreneurial opportunities. In order to analyze whether it affects the corporate management performance, a research model was created based on the previous research and hypotheses were set up, and the hypotheses were verified based on this questionnaire. The results of this study are as follows: First, it is found that the support for entrepreneurial policy has a positive effect on the behavior characteristics of entrepreneur. Second, it is found that the startup support such as policy fund affects the behavioral characteristics for finding the opportunity of the founder, but it does not affect the behavioral characteristics for the opportunity exploit. Third, it was found that the behavior characteristics of entrepreneur founding opportunity and exploition of entrepreneurial opportunity influenced the performance of the company. According to the this study, the following conclusion were obtained, First, it is necessary to apply different policies according to the stage of growth of startup companies. Second, startup companies grow through the stages of development of new technologies and ideas, commercialization, and marketing, at each stage, entrepreneur must overcome the so-called Death Valley, which requires funding.

• STI Policy Review
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• v.1 no.2
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• pp.69-88
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• 2010

This paper explores the determinants of the innovation impact of publicly funded R&D projects along three broad dimensions, namely project, firm and market-related factors. In addition to these factors we examine the attributes of the research result per se and aspects of the commercialization process. The observations from empirical and qualitative analyses are based on R&D projects funded by the Fifth and Sixth Research Framework Programmes of the European Union. Firm size, prior experience, innovation culture, the nature of the project itself, explicit intension to commercialize, consortium management and strategy are the factors with the strongest effect on project success, defined in terms of product/process innovation and/or technical knowledge creation. The paper provides important implications for the organization, objectives, and management of public programmes that fund R&D and for project and participant selection.

• Journal of Family Relations
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• v.22 no.4
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• pp.53-80
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• 2018

Objectives: The purpose of this study was to investigate individual awareness variables influencing emotional, normative, and functional marriage intentions of unmarried men and women. Independent variables were values of offspring, perceptions to unmarried life, attitudes toward multiple role planning, perceptions and availabilities of marriage-related policies, views on the marriageable age, psychological burdens of pressure to marriage by significant people, and views on parents' support for marriage fund. Method: 553 unmarried men and women in Daegu, Korea were surveyed, and the data were analyzed using descriptive statistics, factor analysis, multivariate analysis of variance(MANOVA), multiple regression analysis, and hierarchical regression analysis with SPSS 22.0. Results: First, this study was more exploratory and in-depth approach to marriage intentions than precedent studies. The sub factors of marriage intentions were emotional, normative, and functional marriage ones. Second, emotional marriage intention showed significant differences depending on gender, dating, views on the marriageable age, and degree of acceptance of parents' support for marriage fund. Among the individual awareness variables, values of offspring, perceptions to unmarried life, attitudes toward multiple role planning, and psychological burdens of pressure to marriage personally or by friends influenced emotional marriage intention. Third, normative marriage intention showed significant differences depending on gender, religion, occupational status, employment condition, dating, views on the marriageable age, and degree of acceptance of parents' support for marriage fund. Among the individual awareness variables, values of offspring, perception to unmarried life, attitudes toward multiple role planning, view on the marriageable age, availabilities of marriage-related information offering policies, and psychological burdens of pressure to marriage by mother influenced normative marriage intention. Fourth, functional marriage intention showed significant differences depending on gender, job, parents' support for marriage fund, views on the marriageable age, and degree of acceptance of parents' support for marriage fund. Among the individual awareness variables, functional marriage intention was influenced by values of offspring, perception about unmarried life, attitudes toward multiple role planning, and degree of acceptance of parents' support for marriage fund. Finally, the hierarchical regression analysis showed that individual awareness variables influenced on marriage intentions. Especially, values of offspring, perceptions to unmarried, and attitudes toward multiple role planning influenced on emotional, normative, and functional marriage intentions in common. Conclusions: The findings from these analyses suggest that the selective process based on the individual awareness has become very significant to having marriage intentions. Therefore, this study will contribute as the basic data on national marriage-related policies. Furthermore, this study will be able to use to think about the marriage intention as a task to be preceded by the national policy in order to prepare for Korea 's low fertility and aging phenomenon.