• International Commerce and Information Review
• /
• 제19권3호
• /
• pp.83-105
• /
• 2017

I tried to analyze export relation of influence in Chinese H beam(common steel), Hot Rolled Steel(common steel), Plate(common steel) which could be influenced immediately by China's cancellation of the export rebate of value added tax in 2010 through the statistic methods such as cointegration, Granger causality, impulse response and variance decomposition. In the first period they mutually influenced each other in export to Korea but in the second period, this relation of influence was lessoned. Due to production expansion of Hot Rolled Steel(common steel), Plate(common steel) in Korea, the change of import trend, the market change of steel users' industries and China's expedient export of boron steel to Korea, mutual influence among these products was greatly declined. Ever since Hyundai Steel's production expansion involving blast furnace facilities, there is need for the industry to concentrate on developing new markets for its facilities' output in Korea. Therefore, Korea's steel industry desperately needs strength of de-jure standards such as unique quality standards and related certifications, efficient distribution management, as well as export promotion strategy through its global trading network to effectively address its structural supply-demand imbalances.

• The Korean Journal of Financial Management
• /
• 제6권2호
• /
• pp.33-69
• /
• 1989

The Purpose of this study is to test empirically the determinants of capital structure of the Korea Listed Firms. In order to accomplish the purpose of this study, both literature survey and empirical test have been made. For the empirical test, agency and asymmetric information factors as well as traditional ones have been throughly reviewed. Traditional factors tested in this study include firm-size, collateral value of the assets, business risk, tax, non-debt tax shields, and industry effects. Agency and asymmetric information factors include growth opportunities, the percentage of outstanding equity held by inside stockholders, and the number of inside stockholders. From the results of the cross-sectional regression analysis, the adjusted R-square is 1931%, and the overall F-value indicates significance. For the analysis period, the signs of the variables except business risk are as predicted. Firm-size, collateral value of the assets, and business risk significant at the.01-.05 level. In order to determine the influence of industry factors on the financial leverage, a total of 8 dummy variables are added to the regression model. The adjusted R-square inclosed by 4.2% for the first analysis period(1983-1985) and 6% for the second analysis period(1986-1987). This suggests that industry factors are significant in explaining the variations in financial leverage across firms. In order to pursue the influence of agency and asymmetric information factors on the financial leverage, again the cross-sectional regression analysis is done for the middle size firms gruop(n=40). The adjusted R-square increased by 9.8% for the first analysis period(1983-1985) and 6.1% for the total analysis period(1983-1987), and all the signs was as predicted. But both the variables except the number of inside stockholders was not significant.

• Journal of Agricultural Extension & Community Development
• /
• 제21권3호
• /
• pp.155-179
• /
• 2014

Input-output(I-O) analysis is now widely used to examine the economic impact of tourism. The study aims to demonstrate the impact of agri-tourism development project on local development in terms of income and employment. Based on the I-O transactions tables developed by Bank of Korea (2011), rural tourism related sectoral multipliers were derived with respect to output, income, employment, and value-added tax. The results of the I-O model indicate that in 2011, rural tourism development generated 1,387 billion Won of output impact, 287 billion Won of income impact, 275 billion Won of value-added impact, and 41,127 full-time jobs, respectively throughout direct, indirect, and induced effects. In particular, the restaurant sector had relative higher output and employment multipliers as compared to other industries, whereas they had lower multipliers of income and value-added than any other industries. The findings imply that the restaurant sector was relatively labor-intensive industry, generating high impact of employment effects.

• The Journal of the Korea Contents Association
• /
• 제13권4호
• /
• pp.350-360
• /
• 2013

The purpose of this study was to analyze how much the beauty industry contributes to the national economy by measuring economic spreading effects of beauty industry on national economy. To achieve this purpose, the study used the beauty Input-Output Table of year 2009 of korea. The results shows that beauty industry induce 598,453 billion won of national production, especially beauty industry shows that production inducement coefficient is 1.810,Index of the power of dispersion is 0.965, index of the sensitivity of dispersion is 0.534, value-added coefficient is 0.728, and labor inducement coefficient is 0.039. The beauty industry's final demand 11,004 won be put into the national economy, GDP inducement 598,438 one billion won in the beauty industry one billion won 11,029 accounted for 1.8% of the total, and the value-added inducement 4,947 billion(2.3%),tax inducement 23,798.5 billion(3.5 %), income inducement 91,187 billion(2.5%). Regarding the industrial linkage effect, beauty industry has an relatively higher growth potential in the national economy than other the manufacturing industry.

• Journal of Convergence for Information Technology
• /
• 제8권6호
• /
• pp.409-416
• /
• 2018

The purpose of this study is to estimate the macro-economic ripple effect of tax exemption for both high end technology firms and research enterprises in R&D special cluster. We apply the user cost of capital model and the Input-output model to the estimation. Estimation results for 2007-2016 are as follows: the increase in both the production and the value-added is 2,807 and 1,392 hundred million Korean won, respectively. Also, employers are increased by 2,355 people. These imply that keeping the tax exemption item for certain enterprises in R&D special cluster may be beneficial to our economy.

• Asia-Pacific Journal of Business
• /
• 제11권3호
• /
• pp.95-106
• /
• 2020

Purpose - This study examines the information effect of the disclosure of new office investments on the Korean stock market and investigates determinant of performance of sample firms. Design/methodology/approach - The sample consists of companies listed on the Korean Exchange that announced investments in new office construction for eleven-years from January 2007 to December 2017. It analyzes excess return using event study methodology and studies the determinants of abnormal return with multiple regression analysis. Findings - We find that abnormal returns of the short and long window are positive on average and statistically significant. In particular, CAR of high growth subsample is a larger positive return than that of the low one both short and long window. Difference in abnormal returns by investment size is observed only in short time window. But there is not observed difference by cash holding level. Research implications or Originality - This finding is able to be added to the evidence of the theory of corporate value maximization academically. Moreover, it shows the possibility that building a new office can have a positive effect on corporate value. It is expected to help investors make decisions because it can provide useful information to market participants in practice.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
• /
• 제54권
• /
• pp.123-144
• /
• 2012

Seller shall deliver the goods with a perfect condition of packing or container in international trade. Unless otherwise seller shall warranty that the goods arrive at destination with a safe and economic value. Buyer may ask packing is to be made in specific condition or refuse to accept when the packing is not made in accordance with trade customs between among merchants. Especially packing is to be considered under the local law and process. Sometimes tax will be added to specific condition of packing for example glasses, metal sheet or others. Warning signs shall be included as form of both words and diagrams, and be in form of ensuring understanding in the local market. Wide range of warning signs can be used for communications and understanding of packing. Packing of a product can usefully symbolize a range of product information, or any relevant warnings, and give an opportunity for displaying messages of promoting the company and the goods. The seller may choose the best method to maintain its value but find a way to reduce packing cost, size for convenience during delivery, design, and local customs. There are many things to be considered for packing to seller. The purpose of packing is to protect the goods itself and to maintain its economic value during storage, delivery, transshipment, and distribution to end users.

• Journal of Society of Preventive Korean Medicine
• /
• 제8권1호
• /
• pp.163-186
• /
• 2004

The purpose of this parer is to identify the input-output structure of oriental medicine and its alternative medicine industries in an inter-industry context and to estimate its forward and backward effects on macroeconomic variables such as production, employment and price level. Input-output tables released by The Bank of Korea were used as data in this research and inter-industry analysis was adopted as research methodology. The industry takes less share of production, price and trade in a Korean economy, compared with other industry. However, the industry's capability of creating value added is estimated to be well above that of other industry and that of making new employments is as more than 4 times as other industries. This result gives us policy implications that the government should enhance its subsidy policy and economic (tax) incentives for oriental medicine and its related alternative medicine industries.

• The Journal of the Korea Contents Association
• /
• 제13권12호
• /
• pp.945-956
• /
• 2013

The character industry is a high value-added industry, and is one of the strategic industries to be fostered. However, the character industry is struggling due to the lack of national consensus on the importance and value of the character industry. Therefore, in order to resolve this issue, the study used the character Input-Output Table of year 2009 of korea to analyze how much the character industry(Toys and games, Models and decorations) contributes to the national economy by measuring economic spreading effects of character industry on national economy. The results shows that character industry shows that production inducement coefficient is column 1.602, row 1.007, index of the sensitivity of dispersion is 0.543, Index of the power of dispersion is 0.864, value-added coefficient is 0.620, income inducement coefficient is 0.334, tax inducement coefficient is 0.066, employment inducement coefficient is 0.008.

• Journal of Forest and Environmental Science
• /
• 제30권1호
• /
• pp.145-151
• /
• 2014

The study examines the feasibility of hosting the International Wood Industry EXPO as a part of the effort to establish Wood Industry Cluster in Jeollanam-do. The provisional EXPO period suggested by the study is 30 days between July 23 (Saturday) and August 21 (Sunday) 2016 and the proposed venues are Namdo International Education Center, Woodland, and Woodcraft Center, Jangheung-gun, Jeollanam-do, and so on. According to the study, it is calculated that the expected investment cost amounts to around 4.5 billion won and the number of total potential visitors reaches 1,627,478. The study also predicts that the EXPO generates various economic effects and outputs that can be quantified as following; a production inducement effect equivalent of 344.5 billion won, an income inducement effect of 77 billion won, an employment inducement effect corresponding to 3,899 jobs, a value-added inducement effect equivalent of 143 billion won, and an indirect tax inductive effect of 32 billion won. Then, emphasizing the need for the organizing committee that can play an important role in managing the overall EXPO events, the study, based on the figures, concludes that the International Wood Industry EXPO 2016 is to be promoted at the regional and national level.