• 융합경영연구
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• 제8권1호
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• pp.36-49
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• 2020

Purpose - This study investigates factors that affected the utilization of trade support policies and further analyzed how the utilization of trade support policies affected export performance. Research design, data, and methodology - With a sample of 223 small and medium-sized export firms from South Korea, this study examines the determinants of the utilization level of trade support system such as export market orientation, learning orientation, network capability and environmental uncertainty by regression analysis. Results - Export market orientation have a positive effect on the utilization of the trade support system and there is positive relationship between learning orientation and the utilization of trade support system. And network capabilities have had a positive impact on the utilization of the trade support system but there is no relationship between environmental uncertainty and the utilization of trade support system. The utilization of the trade support system had a positive effect on export performance. Conclusions - The internal and external factors of the organization have affected small and medium-sized export firms use of trade support systems. The utilization of trade support system can enhance positive export performance by providing valuable information and resource to external knowledge and also to complementary resources from the external partners.

• Journal of Korea Trade
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• 제23권7호
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• pp.113-127
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• 2019

Purpose - This paper investigates whether financial crises could be the indicators of capital outflow waves or vice versa in Korea. Korea has experienced two severe financial crises, which are the Asian Crisis and the global financial crisis. Although there were many variables associated with these two remarkable events, one notable variable was gross capital outflows, which had significantly increased around them. Motivated by existing literature which built theoretical frameworks explaining the relationship between capital flight and financial crises, we examine the empirical evidence for this relationship. Design/methodology - We use panel data from 61 countries including Korea from 1980 to 2009 to study the associations between capital flight and diverse financial crises such as banking, currency, debt, and inflation crises. To be specific, we use the complementary log-log model to see whether capital outflow waves are reliable indicators for domestic financial crises. Findings - The results show, first, that banking, currency, and inflation crises are associated with capital flight. Second, debt crises are also associated with capital flight, but the result is not robust to different specifications. And, third, the positive associations between capital flight and crises are mainly driven by banking flows rather than FDI and portfolio flows. Originality/value - This paper is one of a few studies that investigates domestic (not foreign) investors' behavior during financial turmoil. Furthermore, theoretical studies which provide contradictory explanations on the movements of gross capital outflows during financial crises emphasizes the importance of empirical evidence in this paper.

• 아태비즈니스연구
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• 제12권4호
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• pp.179-192
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• 2021

Purpose - This study is aim to stimulate ESG management of SMEs in Korea with SWOT analysis. Presently, ESG is also affecting a company's supply chain and sales. We tried to make the complementary point of Korea SMEs through domestic and foreign cases. Design/methodology/approach - We divide foreign cases into three countries, and in Korea, also divide into three groups of government, major companies, SMEs to conduct SWOT analysis. Findings - We confirmed that ESG activities were delayed in Korea compared to overseas, but the government and major companies were responding quickly. However, SMEs are complaining of difficulties in ESG activities due to cost issues and limited information. Nevertheless, some SMEs companies show the possibility by carrying out ESG activities based on their own strengths. Research implications or Originality - We suggested the need for SMEs' ESG management. The SMEs are inevitably vulnerable to ESG management compared to other groups. Therefore, We suggested the direction of SMEs ESG management expansion, that are R&D and distribution of eco-friendly activities through collaboration with universities(E), social program to improve working places(S), and expansion of governance that guarantees autonomy(G).

• The Journal of Asian Finance, Economics and Business
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• 제9권1호
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• pp.409-422
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• 2022

The purpose of this paper is to explore how the country-of-origin image mediates the effect of national stereotypes along two dimensions of perceived competence and warmth, on consumers' consumption behaviors, especially in today's environment, the capricious COVID-19 and the deepening and expanding "The Belt and Road" initiative. Research design, data, and methodology: After collecting 1500 primary data from twelve countries along the 21^st - Century Maritime Silk Road, this paper conducts ANOVA and SEM in SPSS25.0 and AMOS 24.0 separately to analyze measurements, structural models, and hypotheses via using 1277 final samples. The mediation results illustrate the asymmetric dominance of the two dimensions of national stereotypes, indicating that the country-of-origin image shows the complementary mediation in the effect of perceived competence on purchase intention; whereas, the country-of-origin image holds the indirect-only mediation in the impact of perceived warmth on purchase intention. The results of the moderation show that the effect of country-of-origin image on purchase intention is more significant for consumers who perceive COVID-19 in China to be of lesser severity than those who believe it to be of higher severity. Based on the paper's results, some implications for practice and theory are highlighted.

• 융합경영연구
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• 제6권3호
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• pp.1-9
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• 2018

Purpose - Current society is competitive society. Rules of the game is applied to every kind of aspects not only business but also academic matters. This research is to analyze competitiveness between China and USA by use of trade related data together with revealed comparative advantage index(RCA) including trade specialization index(TSI). Research design, data, methodology - Per economic phase, both China-USA have mutually complementary character. That's why it is significant to analyze this 2 country's important industry. From our economic viewpoint, Both 2 economic powers should cooperate to achieve partnership in the steel business industry under the severe business competition. Results - This paper will provide which country is more comparatively advantage in case international business is held. Especially, steel industry is in a sense technology related business. Therefore, tied-up up-to-date advanced know-how and technology should be developed to be a leader for one of major industries in the world market. Conclusion - Among those various phenomena, this paper categorizes international business and research boundary is international trade contract. It is available to find out how to cooperate securing permanent and reliable business provider and supplier is essential and eminent for the successful accomplishment in the world steel market.

• 유통과학연구
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• 제22권1호
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• pp.79-94
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• 2024

Purpose: The popularity of social media has altered how customers interact with businesses, and an increasing number of customers prefer to voice their complaints on social media. Bystanders can observe the customer complaint process on social media, but the impact of transparency on bystanders remains uncertain. Therefore, this study established and verified a model for defining the effect of transparency and service recovery types on bystanders. Research Design and Methodology: In this study, we used the internet survey platform "So Jump" to collect data. And we validated three studies with SPSS 26.0 and Smart PLS 4.0. Result: First, we showed that the transparency process (vs. result) is more likely to increase customer forgiveness and E-loyalty and reduce E-NWOM intention among bystanders. Second, customer forgiveness also plays a complementary mediating role between transparency and E-loyalty, as well as between transparency and E-NWOM intention. Finally, we found a modest interaction effect between transparency (process vs. result) and service recovery types (psychological vs. tangible vs. hybrid) on bystanders' customer forgiveness and E-loyalty. Conclusions: This study provides actionable recommendations for how service managers can effectively employ social media as a means for distributing feedback information to manage service recovery in the future.

• 유통과학연구
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• 제13권10호
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• pp.73-82
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• 2015

Purpose - This paper aims to investigate whether information asymmetry could explain capital structures in Korean corporations. According to Myers (1984), firms prefer internal funding to external financing due to the costs associated with information asymmetry. When external financing is necessary, firms prefer to issue debt rather than equity by the same reasoning. Since Shyam-Sunder and Myers (1999), numerous studies continue to debate the validity of the theory. In this paper, we show how the theory depends on assumptions and incorporated variables. We hope our investigation can provide helpful implications regarding capital structure, information asymmetry, and other firm characteristics. Specifically, our empirical results are complementary to the analysis of Son and Lee's (2015), a recent study that examines the pecking order theory prediction for Korean retail firms. Research design, data, and methodology - We test empirical models that are some variants of model used in Shyam-Sunder and Myers (1999). The financial and accounting data are provided by WISEfn for the firms listed on the KOSPI during 1990 to 2013. Bond ratings are supplied by the Korea Investor Service (KIS). We take into account the heterogeneity in debt capacity; a firm's debt capacity is measured by using the method of Lemmon and Zender (2010) based on its bond ratings. Finally, we estimate empirical models suggested by Shyam-Sunder and Myers (1999), Frank and Goyal (2003), and Lemmon and Zender (2010). Results - First, we find that Shyam-Sunder and Myers' (1999) prediction fails to explain total debt changes of Korean firms. Second, we find a non-monotonic relationship between total debt changes and financial deficits with respect to debt capacity. This contradicts the prediction of Lemmon and Zender (2010) that argues the pecking order theory survives with a monotonically increasing relationship. Third, we estimate a negative correlation coefficient between financial deficit and current debt changes. The result is the complete opposite of the prediction of Lemmon and Zender (2010). Finally, we also confirm the non-monotonic relationship between non-current debt changes and financial deficits with respect to debt capacity. Yet, the slope of coefficient is smaller than that of total debt change case. Indeed, the results are, to some extent, consistent with the prediction of pecking order theory, if we exclude the mid-debt capacity firms. Conclusions - Our empirical results complementary to the analysis of Son and Lee (2015), a recent study focusing on capital structure in Korean retail firms; their paper suggests interesting topics regarding capital structure, information asymmetry, and other firm characteristics in Korean corporations. Contrary to Son and Lee (2015), our results show that total debt changes and current debt changes are inconsistent with the prediction of Shyam-Sunder and Myers (1999). However, similar to Son and Lee (2015), non-current debt changes are consistent with the pecking order prediction, in the case of excluding the mid-level debt capacity firms. This contrast allows us to infer that industry characteristics significantly affect the validity of the pecking order prediction. Further studies are needed to analyze the economics behind this phenomenon, which is beyond the scope of our paper. In addition, the estimation bias potentially matters regarding the firm-level debt capacity calculation. We also reserve this topic for future research.

• 동의신경정신과학회지
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• 제20권2호
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• pp.163-176
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• 2009

Objectives : To address most probable and suitable method for designing clinical trial intervening Traditional Korean Herbal Medicine on hwa-byung. Study Design : A systematic review of research studies of complementary and/or alternative medical(CAM) treatment of depression, and of domestic clinical trials of Traditional Korean Medicine, and of Chinese clinical trials of Traditional Chinese Medicine. Methods : Randomized, controlled trials(RCTs) of treatment of depression intervening herbal medicine were searched through MEDLINE, Cochrane Library, and CNKI databases. Also, domestic RCTs intervening Traditional Korean Herbal Medicine were searched through Korean Traditional Knowledge Portal and Korean studies Information Service System(KISS). Studies were evaluated using Iadad scale and self-designed tool for this study. Results : Thirty four RCT studies( 10 from MEDLINE, 16 from CNKI, 8 domestic studies) of herbal medicine met inclusion criteria. Mean Jadad score of studies published in English was 2.8${\pm}$0.79, in Chinese 1.94${\pm}$0.77, and in Korean 2.75${\pm}$0.71. Twenty one percent of studies included pattern differentiation in their inclusion criteria. Twenty nine percent of studies used combined treatment of herbal and conventional medicine. Among studies on depression, 9% included Complementary Medical assessing tools. Conclusions : There is shortage of domestic clinical trial involving herbal medicine. In China, studies tend to focus on investigating effect of Combined treatment of herbal and conventional medicine on depression. Clinical trial(s) of hwa-byung should provide good internal validity by describing methodology for randomization, double-blinding, and attrition. Also, specific guideline for clinical trial, including Traditional Korean Medical aspects across inclusion criteria, and assessing tools is needed.

• 동의생리병리학회지
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• 제24권5호
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• pp.758-769
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• 2010

This is a preliminary study for examining the identity issue of the current Traditional Korean Medicine(TKM). In order to examine the identity issue, it is necessary to understand "what" current TKM is. The current TKM has been formed in the complicated historical settings and the newly formed academic geography of modern times, completely different from those of the traditional era. This paper took diachronic and synchronic approaches in order to understand the current TKM. In the process of modernization and scientization of the TKM-which had begun in the early twentieth century-the western medical knowledge merged into the TKM. Also, as the College education of the TKM began after the Liberation from the Japanese colonial rule, the TKM scholars accepted the western medical department system to develop the TKM into professional knowledge. Meanwhile, since the late 1970s, the TKM has been influenced by the modern Traditional Chinese Medicine (TCM), and the TCM knowledge also merged into the TKM. And recently, the research methodology of the complementary and alternative medicine (CAM), and the clinical research technique of the western medicine-like Evidence based Medicine (EBM)-are affecting the scientization and clinical study of the TKM. The current TKM has been formed as a result of the hybridization of these different knowledges. These changes in the TKM were inevitable for the survival of it in the fast changing world. But these changes brought with them problems. Among those, the identity issue is the most important and crucial.

• 산경연구논집
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• 제9권3호
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• pp.57-68
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• 2018

Purpose - The purpose of this study is to classify that the quality factors for comparing the Visegrard Group with the Nordic Council have historical similarities against Germany and the Soviet Union. However, this is because in the integrated European market, the competitiveness possessed by the two groups of countries is invested in the priority order to grow. Research design, data, and methodology - The study was conducted on the research design, and the reason for trying to compare the competence of the automobile industry in the assessment of industrial capability is that the Visegrard Group focuses on automotive production and the Nordic Association focuses on the commercialization of the automobile(market). In this study, searching and quantifying indirect evidence was made through standards are more complementary in Europe since each country acts like the role of the European automotive industry for example, which is different from the realistic evaluation criteria, are more important than those of the United States(first in the world) or Germany(first in Europe). Results - The results of this study are as follows: In the global EV market U.S.(export: $ 2.62 billion /share: 36.7%), Germany($ 1.29 billion /18.1%), France($ 390 million /5.4%), United Kingdom($ 380 million /5.4%), and South Korea($ 320 million/ 4.4%). South Korea's share of the EV market is 4.4%, while TSI reaches at +0.9 which measures the comparative advantage of a specific commodity in the world trade market. There is great potential for evaluated as products processing in export competition. But, commercialization, standardization, and overall market expansion did not have a positive impact on global satisfaction. Conclusions - EVs put importance on various utilities. So this suggests that Korea's exports to the EU, including the Visegrard Group, should be more focused on marketability when illuminating with a sharing industrial system under the European Union. It is necessary to specialize in manufacturing and commercialization by country(region) to prepare sharing economy and blockchain in order to create a smart-sharing city linked on artificial intelligence, as the commercialization of electric vehicles, which will have a larger growth rate than that of manufacturing in the fourth revolutionary era.