• The Journal of the Korea Contents Association
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• v.17 no.9
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• pp.300-309
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• 2017

This paper examines the cyclical fluctuation of 'construction orders' and 'construction investment' using HP filter, Bandpass filter and Beveridge-Nelson decomposition methods. The main results are as follows. As a result of the analysis of the cyclical fluctuation of construction orders, it was analyzed that there were about 7 cyclical fluctuations from 1976 to the first quarter of 2017. Construction orders for cyclical fluctuations peaked in the second quarter of 2015 and turned to a downward trend. On the other hand, construction investment has experienced about 6 cycles of fluctuations during the same period, and it has been rising continuously since the bottom of 3Q12. This is consistent with the general theory that construction orders precede construction investments. In addition, the comparison of the construction orders, construction investment, and GDP amplitude shows that the GDP amplitude is the smallest and stable, and the construction orders have the greatest variation in amplitude. Therefore, construction orders should be adjusted by government policy depending on economic fluctuations.

• Proceedings of the Technology Innovation Conference
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• 2005.08a
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• pp.141-167
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• 2005

본 연구의 목적은 우리나라보다 앞서 실시하고 있는 일본의 산업 클러스터 계획 프로젝트의 거시적인 현황과 가장 성공적이라고 하는 TAMA클러스터의 사례를 분석하여 향후 우리나라 클러스터 정책 시행에 필요한 시사점을 얻는데 있다. 특히 TAMA클러스터의 성공은 이를 직접 관리하고 있는 민간차원의 중개조직인 TAMA산업활성화협회의 운영전략을 집중적으로 분석하여 봄으로써 도입 가능성에 대한 진단과 정책적 제안을 하고자 한다. 첫째, 일본의 19개 지역별 산업 클러스터 계획의 공통점은 어느 것도 도도부현의 영역을 초월한 광역적인 클러스터를 형성하고 있다. 광역단위의 집적은 상대적으로 클러스터 계획에 대한 중요성과 실행주체를 망각하기 쉬워 실패할 가능성이 비교적 높을 수 있다 이러한 점을 극복하기 위한 대안으로 산학연의 3주체 간 연계를 주로 담당하는 민간중심의 중개조직을 두어 운영하고 있다. 둘째, 클러스터 정책기간은 시작에서 자립까지 20년을 상정하고, 제1기 5년간은 산업 클러스터 네트워크 구축기, 제2기 5년은 산업 클러스터 성장기 그리고 마지막 제3기 10년은 산업 클러스터의 자율적 발전기로서 책정되어 수행하는 것이 바람직하다고 보고 있다. 셋째, 개별적인 산업 클러스터의 비전, 목표, 중장기 전략의 올바른 수립이 필요한데 백화점식이 아닌 대상산업 및 대상 주체에 대한 선택과 집중의 전략성이 엿보인다. 넷째, 정책 대상의 범위는 연구개발에서 판매에 이르기까지 전 비즈니스 프로세스를 대상으로 하고 있으며 클러스터 관련 정책수행 주체들의 정책조율, 중복 투자의 회피 그리고 효과적인 정책을 시행하기 위하여 수평적인 연락망과 협의체를 구성하고 있다. 다섯째, TAMA협회는 전통적인 동종 산업중심의 협회 기능과는 달리 제품개발형 중소$\cdot$중견기업을 대상으로 신기술개발과 신사업 전개를 위한 전략적 지원을 하고 있다. 비교적 개별적인 기술개발 능력은 물론 독자적인 마케팅 능력을 갖고 있어 일반적인 보호 대상자로서의 중소기업과는 차원이 다르며 기존의 하청관계라는 수직적 의존적인 존재가 아니라 세계적으로 니치 시장에서 경쟁력을 가지고 있는 대기업과 대등한 입장의 우량기업이라는 것이 특징이다. 여섯째, 지금까지는 기업을 지원하는 각 기관들이 각각 독자적으로 운영하여 경영자원의 분산과 이용으로 수혜자인 중견$\cdot$중소기업의 입장은 물론 지방자치단체 및 중앙정부의 차원에서 분석하여 볼 경우 경영자원의 Critical Mass를 확보하기 어려웠다. TAMA협회는 네트워크 조직으로서 주로 소프트적인 지원을 통하여 원활하게 수행하고 있음. 정보와 네트워크만을 가지고 조직간 관계를 중개하는 가벼운 네트워크 조직으로서 운영하는 방법은 한국의 경우에도 적용이 가능하며 매우 유용하다고 생각된다.

• Journal of Agricultural Extension & Community Development
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• v.9 no.1
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• pp.131-145
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• 2002

국제연합에서는 $15{\sim}24$세의 젊은이를 청소년이라고 정의하고 있는데 그 중에서도 특히 농촌청소년은 미래 농촌발전의 핵심주체라 할 것이다. 일반적으로 농촌청소년은 그들 부모세대보다 더 높은 교육수준과 도전의식 그리고 더 높은 창의성을 지니고 있기 때문이다. 더욱이 그들은 미래가 자신의 장래와 직접적으로 연결되어 있기 때문에 장기적인 전망, 미래의 비전에 관심이 크다. 청소년에 대한 교육은 민주사회의 미래에서 한 사회가 할 수 있는 가장 중요한 투자 중의 하나라고 인식되며 현재 진행되고 있는 고도의 경쟁적인 시장경제로의 진입에서 청소년의 사회경제적 비전을 향상시키기 위해서는 교육과 훈련의 질적 양적 향상이 최우선시 되어야 할 것이다. 세계무역기구 출범 이후 농산물 수출국가와 선진국에서의 소득균형은 일반적으로 향상되었으나 순식량 수입국가나 개발도상국가에서는 소득균형이 더 악화되고 농업영역의 쇠퇴를 초래하고 있는 부작용이 국제연합 식량농업기구 등의 분석이다. 더욱이 식량안전상황은 농산물의 급격한 수입으로 여전히 불안하고 농가 판매의 지속적인 악화, 농촌과 도시간의 소득격차가 큰 것으로 나타났다. 특히 인간의 건강과 환경에 유해한 유전자조작 농산물 (GMO)의 교역은 소비자의 식품안전과 잠재적 위해 때문에 합당한 조치가 요구되고 있는 실정이다. 이러한 상황에서 농업교육, 연구 그리고 지도, 특히 아시아의 주요작물 영역에 대한 더 많은 투자가 필요하며 많은 아시아국가들에서 우선적으로 요구되는 농촌 청소년교육은 빈곤퇴치, 식량의 안정적 공급 및 식품의 안전 그리고 지속적이고 균형있는 농촌개발 등이다. 이를 위한 정부와 국민, 특히 농촌 청소년들의 연결망을 통해 함께 협력해야 빈곤퇴치와 식량의 안정적 공급 및 식품의 안전 등 농촌의 사회경제적 발전이 가능할 것이다. 이 연구에서는 아시아지역 농촌사회 및 식량농업의 발전을 위한 청소년 연결망을 예시적으로 검토하고 미래사회에서의 협력을 위한 접근을 탐색하였다.국제연합에서는 $15{\sim}24$세의 젊은이를 청소년이라고 정의하고 있는데 그 중에서도 특히 농촌청소년은 미래 농촌발전의 핵심주체라 할 것이다. 일반적으로 농촌청소년은 그들 부모세대보다 더 높은 교육수준과 도전의식 그리고 더 높은 창의성을 지니고 있기 때문이다. 더욱이 그들은 미래가 자신의 장래와 직접적으로 연결되어 있기 때문에 장기적인 전망, 미래의 비전에 관심이 크다. 청소년에 대한 교육은 민주사회의 미래에서 한 사회가 할 수 있는 가장 중요한 투자 중의 하나라고 인식되며 현재 진행되고 있는 고도의 경쟁적인 시장경제로의 진입에서 청소년의 사회경제적 비전을 향상시키기 위해서는 교육과 훈련의 질적 양적 향상이 최우선시 되어야 할 것이다. 세계무역기구 출범 이후 농산물 수출국가와 선진국에서의 소득균형은 일반적으로 향상되었으나 순식량 수입국가나 개발도상국가에서는 소득균형이 더 악화되고 농업영역의 쇠퇴를 초래하고 있는 부작용이 국제연합 식량농업기구 등의 분석이다. 더욱이 식량안전상황은 농산물의 급격한 수입으로 여전히 불안하고 농가 판매의 지속적인 악화, 농촌과 도시간의 소득격차가 큰 것으로 나타났다. 특히 인간의 건강과 환경에 유해한 유전자조작 농산물 (GMO)의 교역은 소비자의 식품안전과 잠재적 위해 때문에 합당한 조치가 요구되고 있는 실정이다. 이러한 상황에서 농업교육, 연구 그리고 지도, 특히 아시아의 주요작물 영역에 대한 더 많은 투자가 필요하며 많은 아시아국가들에서 우선적으로 요구되는 농촌 청소년교육은 빈곤퇴치, 식량의 안정적 공급 및 식품의 안전 그리고 지속적이고 균형있는 농촌개발 등이다. 이를 위한 정부와 국민, 특히 농촌 청소년들의 연결망을 통해 함께 협력해야 빈곤퇴치와 식량의 안정적 공급 및 식품의 안전 등 농촌의 사회경제적 발전이 가능할 것이다. 이 연구에서는 아시아지역 농촌사회 및 식량농업의 발전을 위한 청소년 연결망을 예시적으로 검토하고 미래사회에서의 협력을 위한 접근을 탐색하였다.

• The Korean Journal of Financial Management
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• v.27 no.2
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• pp.145-167
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• 2010

We investigate the dynamic relationship between stock returns and investors' behavior. For the putpose of the paper, daily KOSPI returns are decomposed into two parts: overnight returns and daytime returns. Overnight return is measured by the closing price of the previous day and the opening price of the current day. And daytime return is measured by the opening and closing prices of the current day. Qvernight returns are assumed to reflect global economic information, and daytime returns, domestic or local information. Major results are as follows: Foreign investors' behavior has an effect on the overnight returns more than the daytime returns. Individual investors' behavior, however, has little effect on the overnight returns, but not the daytime returns. Consequently, forecast error variance decomposition shows that the variance explanation power of foreign investors is higher in overnight returns rather than in the daytime returns. And the variance explanation power of individual investors is higher in daytime returns rather than in overnight returns. It implies that foreign investors employ dynamic hedging strategies and give more weight to global economic information rather than to domestic information. We conclude that investment behavior of foreign investors and domestic individuals is based on different economic information. This paper's findings are consistent with the economic situation that the Korean capital markets have faced since the global financial crisis of August 2008.

• Korean small business review
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• v.43 no.4
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• pp.173-209
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• 2021

Start-up accelerators are a new type of investor that provide mentoring, education and seed capital to start-ups for a fixed duration and receive a certain stake in them in return. They help start-ups achieve successful commercialization. With increase in performance visibility, the number of private and public sector accelerators rose across domestic and international markets. Private sector accelerators are established and operated by private entities while public sector accelerators are established and operated by the government. Both play complementary roles that are becoming increasingly important to start-ups. Therefore, this study aims to examine the differences in major operational goals and investment determinants between private and public sectors and to understand their implications. The results show that the private sector prioritizes profit generation through the investment, while the public sector aims to contribute to the development of high-growth start-ups, and create region-specific and technology-specific start-up ecosystems. Additionally, both groups consider customer needs the most important determinant. Public groups are more conservative in investments and tend to place importance on objective indicators such as patents, partners, mentors, and co-founders. Conversely, private groups value the capabilities of founders and their ease of collaboration with accelerators. These findings can help start-ups get support from public or private accelerators more easily. It will also help public and private accelerators refine the criteria for selecting start-ups.

• The Journal of the Korea Contents Association
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• v.15 no.11
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• pp.559-570
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• 2015

As national R&D is increased in scale, technology transfer has garnered more attention in terms of utilizing R&D outcomes. In this study, we analyzed influencing factors to technology transfer, as a way of utilizing R&D results, using data on national R&D. The analyses was performed with 3 subjects: university, government research institute and industry. When royalty is used as a dependent variable to measure the performance outcomes of technology transfers, the analysis showed that R&D funds have positive influence on all three subjects. In terms of government research institute, the influence was significant whether the location is the capital area or Daejeon city. With regards to industry, factors such as whether the project is a cooperative research, applied research, and the research to technology transfer period were found to have remarkable influence. On the other hand, when the number of cases of technology transfer was used as a dependent variable, the analysis indicated that R&D funds have significant impact on university, while for government research institute, the significant influencing factors include both R&D funds and the research to technology transfer period, and for industry have positive influence on applied research. It is therefore necessary to make differentiated policies considering the R&D organizations in order to improve the efficiency of technology transfer performance.

• Journal of Digital Convergence
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• v.19 no.3
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• pp.161-166
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• 2021

The macroeconomic concept represents the movement of a country's economy, and it affects the overall economic activities of business, government, and households. In the macroeconomy, by looking at changes in national income, inflation, unemployment, currency, interest rates, and raw materials, it is possible to understand the effects of economic actors' actions and interactions on the prices of products and services. The US Federal Reserve System (FED) is leading the world economy by offering various stimulus measures to overcome the corona economic recession. Although the stock price continued to decline on March 20, 2020 due to the current economic recession caused by the corona, the US S&P 500 index began rebounding after March 23 and to 3,694.62 as of December 15 due to quantitative easing, a powerful stimulus for the FED. Therefore, the FED's economic stimulus measures based on macroeconomic indicators are more influencing, rather than judging the stock price forecast from the corporate financial statements. Therefore, this study was conducted to reduce losses in stock investment and establish sound investment by analyzing the FED's economic stimulus measures and its effect on stock prices.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.9 no.5
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• pp.53-68
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• 2014

This study is aimed at analyzing the factors that affect the behaviors of employee's investment, such as a decision making process in a variety of views and proving the extent of how those factors influence on their investment. The basic assumption is that the preceding factors that can be determined by the personal investment propensity, a psychological factor asserted by Behavior Financial Theory and financial-economic and social environment. This study uses Hershey's Investment Behavior Model(2007) as the main analysis tool to explain the investment behavior of individuals and deals with personal investment inclination in the psychological perspective of overconfidence, self-control and the risk tolerance propensity and add the financial and economic factors in terms of financial literacy and economic distress. Also the new preceding social environmental factors like social interaction and the effect of reference group are added to make this research to be more precise. This study analyze the adjustment effect of professional invest-consulting service that affect the fluctuation influence between the individual variables(those factors) and subordination variable(the level of investment satisfaction). The study reveals that overconfidence and self-control in direct ways have a positive effect on the level of investment satisfaction in terms of investment behavior and economic distress has a negative effect on the level of investment satisfaction. The adjustment effect provided by financial experts in investment consulting service is affirmed as the critical factor that increase the influence between self-control and the level of investment satisfaction. To conclude, the research reveals that the psychological factors are the main criteria when the workers as employees have to make investment decisions. To make investors be reasonable, a systematic financial education system provided by experts is needed from the early adolescent stages and financial companies should develop the relevant services of consulting service department as a key financial sector and financial investment products and consulting program and marketing tool pertinent to investors ages, vocational traits and their inclinations.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.4
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• pp.37-50
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• 2023

Venture capital invests the necessary capital and supports management and technology in promising small and medium-sized venture companies in the early stages of start-up with promising technology and excellent manpower. It plays a role as a key player in the venture ecosystem that realizes profits by collecting the investment through various means after growth. Venture capital's job is to recruit various investors(LPs) to invest in small and medium-sized venture companies with growth potential through the formation of venture investment funds, and to collect investment as companies grow, distribute and reinvest. The main tasks of venture capitalists, which play the most important role in venture investment, are finding promising companies, corporate analysis and evaluation, investment screening, follow-up management, and investment recovery. Venture capital's success indicators are fund formation and return on investment, and venture capitalists are rewarded with annual salary, performance-based incentive, and promotion with work performance such as investment, exit, and fund formation. Compared to the recent rapidly growing venture investment market, investment manpower is insufficient, and venture capital is making great efforts to foster manpower and establish infrastructure and systems for long-term service, but research has been conducted mainly from a quantitative perspective. Accordingly, this study aims to empirically analyzed the impact of investment experience, delegation of authority, job fit, and peer relationships on fund formation and return on investment according to the characteristics of the venture capital industry. The results of these empirical studies suggested that future venture capital needs a job environment and manpower operation strategy so that venture capitalists with high job fit and investment experience can work for a long time.

• Korean Journal of Construction Engineering and Management
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• v.5 no.3 s.19
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• pp.55-62
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• 2004

The purpose of this study is to suggest a systematic procedural model for selecting competent project promoter. The proposed model was made by comparing domestic regulations and procedures with foreign nations', and through interviews with experts and literatures survey. The summaries of this paper are as follows. The current promoter selection procedure was evaluated by reviewing relevant papers, regulations and existing model. Some obstructions which hinder PPI project activation were identified, those are inadequacy of promoter qualification and negotiation process, lack of communication between parties, etc. Some alternatives which remove major obstructions are embodied in the model. The suggested model is comprised of PQ(prequalification), two phased evaluation for the technical proposals which include alternate, communication meeting, etc. To manage the overall procedure well, an involvement of professional "project promoter selection team" would be highly recommended. They will participate in each evaluation stage with full activities, and provide government with some technical materials for selecting promoter as coordinator.