• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.1
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• pp.95-112
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• 2020

This paper is to investigate how cognitive bias of college students and entrepreneurs relates to perceived risks and entrepreneurial opportunities that represent uncertainty, and how various cognitive bias and entrepreneurial efficacy In the same way. The purpose of this study is to find improvement points of entrepreneurship education for college students and to suggest problems and improvement possibilities in the decision making process of current entrepreneurs. This empirical study is a necessary to improve the decision-making of individuals who want to start a business at the time when various attempts are made to activate the start-up business and increase the sustainability of the existing SME management. And understanding of the difference in opportunity evaluation, and suggests that it is necessary to provide good opportunities together with the upbringing of entrepreneurs. In order to achieve the purpose of the study, questionnaires were conducted for college students and entrepreneurs. A total of 363 questionnaire data were obtained and demonstrated through structural equation modeling. This study confirms that there is some relationship between perceived risk and cognitive bias. Overconfidence and control illusions among cognitive bias have a significant relationship between perceived risk and wealth. Especially, it is confirmed that control illusion of college students has a significant relationship with perceived risk. Second, cognitive bias demonstrated some significant relationship with opportunity evaluation. Although we did not find evidence that excess self-confidence is related to opportunity evaluation, we have verified that control illusions and current status bias are related to opportunity evaluation. Control illusions were significant in both college students and entrepreneurs. Third, perceived risk has a negative relationship with opportunity evaluation. All students, regardless of whether they are college students or entrepreneurs, judge opportunities positively if they perceive low risk. Fourth, it can be seen from the college students 'group that entrepreneurial efficacy has a moderating effect between perceived risk and opportunity evaluation, but no significant results were found in the entrepreneurs' group. Fifth, the college students and entrepreneurs have different cognitive bias, and they have proved that there is a different relationship between entrepreneurial opportunity evaluation and perceived risk. On the whole, there are various cognitive biases that are caused by time pressure or stress on college students and entrepreneurs who have to make judgments in uncertain opportunities, and in this respect, they can improve their judgment in the future. At the same time, university students can have a positive view of new opportunities based on high entrepreneurial efficacy, but if they fully understand the intrinsic risks of entrepreneurship through entrepreneurial education and fully understand the cognitive bias present in direct entrepreneurial experience, You will get a better opportunity assessment. This study has limitations in that it is based on the fact that university students and entrepreneurs are integrated, and that the survey respondents are selected by the limited random sampling method. It is necessary to conduct more systematic research based on more faithful data in the absence of the accumulation of entrepreneurial research data. Second, the translation tools used in the previous studies were translated and the meaning of the measurement tools might not be conveyed due to language differences. Therefore, it is necessary to construct a more precise scale for the accuracy of the study. Finally, complementary research should be done to identify what competitive opportunities are and what opportunities are appropriate for entrepreneurs.

• Journal of Global Scholars of Marketing Science
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• v.19 no.2
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• pp.17-26
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• 2009

As the lifestyle of consumers changes and the need for various products increases, new products are being developed in the market. Each household owns various home appliances which are purchased through the choice of a decision maker. These appliances include not only large-sized products such as TV, refrigerator, and washing machine, but also small-sized products such as microwave oven and air cleaner. There exists latent correlation among possession of home appliances, even though they are purchased independently. The purpose of this research is to analyze the effect of demographic factors on the purchase and possession of each home appliances, and to derive some relationships among various appliances. To achieve this purpose, the present status on the possession of each home appliances are investigated through consumer survey data on the electric and energy product. And a multivariate probit(MVP) model is applied for the empirical analysis. From the estimation results, some appliances show a substitutive or complementary pattern as expected, while others which look apparently unrelated have correlation by co-incidence. This research has several advantages compared to previous literatures on home appliances. First, this research focuses on the various products which are purchased by each household, while previous researches such as Matsukawa and Ito(1998) and Yoon(2007) focus just on a particular product. Second, the methodology of this research can consider a choice process of each product and correlation among products simultaneously. Lastly, this research can analyze not only a substitutive or complementary relationship in the same category, but also the correlation among products in the different categories. As the data on the possession of home appliances in each household has a characteristic of multiple choice, not a single choice, a MVP model are used for the empirical analysis. A MVP model is derived from a random utility model, and has an advantage compared to a multinomial logit model in that correlation among error terms can be derive(Manchanda et al., 1999; Edwards and Allenby, 2003). It is assumed that the error term has a normal distribution with zero mean and variance-covariance matrix ${\Omega}$. Hence, the sign and value of correlation coefficients means the relationship between two alternatives(Manchanda et al., 1999). This research uses the data of 'TEMEP Household ICT/Energy Survey (THIES) 2008' which is conducted by Technology Management, Economics and Policy Program in Seoul National University. The empirical analysis of this research is accomplished in two steps. First, a MVP model with demographic variables is estimated to analyze the effect of the characteristics of household on the purchase of each home appliances. In this research, some variables such as education level, region, size of family, average income, type of house are considered. Second, a MVP model excluding demographic variables is estimated to analyze the correlation among each home appliances. According to the estimation results of variance-covariance matrix, each households tend to own some appliances such as washing machine-refrigerator-cleaner-microwave oven, and air conditioner-dish washer-washing machine and so on. On the other hand, several products such as analog braun tube TV-digital braun tube TV and desktop PC-portable PC show a substitutive pattern. Lastly, the correlation map of home appliances are derived using multi-dimensional scaling(MDS) method based on the result of variance-covariance matrix. This research can provide significant implications for the firm's marketing strategies such as bundling, pricing, display and so on. In addition, this research can provide significant information for the development of convergence products and related technologies. A convergence product can decrease its market uncertainty, if two products which consumers tend to purchase together are integrated into it. The results of this research are more meaningful because it is based on the possession status of each household through the survey data.

• Journal of Korea Water Resources Association
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• v.53 no.6
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• pp.409-416
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• 2020

An extreme climate monitoring is essential to the reduction of socioeconomic damages from extreme events. The objective of this study was to produce the near-realtime weekly root-zone Soil Moisture Index (SMI) on the basis of soil moisture using the Noah 3.3 Land Surface Model (LSM) for potentially monitoring extreme drought events. The Yangtze basin was selected to evaluate the Noah LSM performance for the East Asia region (15-60°N, 70-150°E) and the evapotranspiration (ET) and sensible heat flux (SH) were compared with ET and SH from FluxNet and with ET from FluxCom, Global Land Evaporation Amsterdam Model (GLEAM), ERA-5, and Generalized Complementary Relationship (GCR). For the ET, the coefficients of determination (R²) were higher than 0.96, while the R² value for the SH was 0.71 with slightly lower than those. A time series of the weekly root-zone SMI revealed that the regions with Extreme drought had been expanded from the northern part of East China to the entire East China between July to October 2019. The trend analysis of the number of extreme drought events showed that extreme drought events in spring had reduced in South Korea over the past 20 years, while those in fall had a tendency to increase. It is concluded that this study can be useful to reduce the socioeconomic damages resulted from climate extremes by comprehensively characterizing extreme drought events.

• Korean Journal of Social Welfare
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• v.58 no.1
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• pp.115-141
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• 2006

The purpose of this study is to understand the changes from adopting daily two-shift roster in child care institutions. To accomplish this purpose, we collected data mainly from depth interview with managers, child care workers, and children in child care institutions adopting daily two-shift roster, and analysed these data through qualitative case study approach. The results of this study are as follows. First, child care workers take the chance of recreation, their working conditions improved, they were participated in self-development activity, and they could make relationship with persons in social network. But, some participants worried about decrease of responsibility of workers. Second, one hand, possibility of high-quality care for child is increased, on the other hand, possibility of improving attachment relationship between workers and children is decreased. some children is confused by shift. But, most important strength is that partners have complementary parenting roles through discussion about parenting skills. They have developed communication skills by trial and error, and growed with children through sharing. Third, many qualified persons have applied for institution because of improvement of working conditions, thus institutions had the chance of adopting qualified workers. These workers have various abilities and resources, could mobilize resources from community, and could progress various programs and intervene for children. But, institutions had many difficulties in process adopting daily two-shift roster because of unstable financial support and previous structure. Most of participants worried about that local government may cut down a subsidy.

• Korean journal of communication and information
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• v.38
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• pp.40-72
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• 2007

Amid the rapid growth in use of portal news, this study examined whether portal news would substitute traditional news media, in particular newspapers and television news. To answer the research question, this study attempted to investigate how the decrease in use of traditional news media was associated with online news use, reliance on, and motivations for portal news. First, this study found that there was a negative and significant relationship between the Internet use and television news viewing, suggesting that those who are more likely to use the Internet are less likely to watch television news programs. Also, portal news was negatively associated with time spent with newspaper reading, while it was not related to television news viewing. Second, this study found that convenience/information-seeking needs appeared as the major motivations for using portal news, which were negatively and significantly associated with the decreased time spent with watching television news programs. In other words, those who used portal news for convenience/information-seeking needs are less likely to watch television news programs, which may indicate that portal news could be a substitute for television news in terms of convenience/information-seeking motivations. In addition, the result of this study showed that there was a complementary relationship between portal news and newspapers in terms of surveillance needs. Those findings could be explained by the concept of "functional similarity" in the process of media substitution. Based on the findings, implications of this study were discussed.

• KDI Journal of Economic Policy
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• v.31 no.2
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• pp.47-85
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• 2009

With a relatively simple quantitative method, this study comprehensively analyzes the characteristics related to business cycles represented by macroeconomic variables of Korea since 1970. This empirical analysis deals with roughly following three topics: How to identify cyclical component with respect to trend; with what characteristics and how the economic variables of each sector move with in the phases of business cycle, and; whether there are signs of a structural change in the phases of business cycle. Section 2 discusses how to identify trends and cycle components, the basis assumption for the analysis of business cycle. Like the Korean economy, where a relatively high growth rate has been maintained, it is appropriate to determine its economic recession based on the fall in the growth trend, not in the absolute level of real output. And, it is necessary to apply the concept of growth cycle against a traditional concept of business cycle. Accordingly the setting of growth trend is of preliminary importance in identifying cyclical fluctuations. The analysis of Korea's GDP data since 1970, the decomposition of trends and cycles through the Band-pass filter is found to appropriately identify the actual phases of busyness cycle. Section 3 analyzes what particular relationship various economic variables have with output fluctuations during the phases of economic cycle, using the corss-correlation coefficients and prediction contribution. Section 4 monitors the stability of the phases of Korea's business cycle and quantitatively verifies whether there is a structural break, and then reviews the characteristics of variations in each sector. And, stylized facts observed through these studies are summarized in the conclusion. The macroeconomic stability of Korea, in particular, is found to continue to improve since 1970, except for the financial crisis period. Not only that, it is found that its volatility of economic growth rate as well as inflation have been reduced gradually. Meanwhile, until recently since 2000, the volatility in domestic demand has remained stable, while that in exports and imports has been increased slightly. But, in an over all perspective, Korea's business cycle variation is on the decline due to shorter response period to shocks and the formation of complementary relationship among economic sectors.

• International Commerce and Information Review
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• v.14 no.1
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• pp.171-195
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• 2012

This paper is aimed to prepare some policy-measures which is helpful for China Money FDI in Korea by analysing FDI-related data and political strength and weakness between the two countries and studying fundamental preconditions required for Korea's China Money FDI strategies. As the result of research, key preconditions found out can be summarized as follows; First, because China-Korea economic relationship is largely insufficient in a complementary view as well as in a cooperative state level, Korea should remove the threats in advance that could lead two countries to unlimited competition, and then expand to a relationship of trust between China and Korea. Second, Korea, at least from the perspective of China, may not be an attractive investment destination. Therefore, it is necessary to take advantage of Korea's FTA-expansion-strategy opportunities such as Korea-US FTA which has entered into force recently. Third, because China always has a lot of alternative investment opportunities among world instead of Korea, so Korea should not overlook the fact that China has the bargaining power in large part related on the investment conditions in Korea, such as investment field, investment size, how to invest China Money to Korea, etc. Fourth, if Korea's FDI policy is trapped in the existing rules of the political frame, and moreover Korea can not have the role of rule breaker, it will be difficult to expect Korea's China Money FDI results compared to those efforts. Fifth, if Korea will execute China Money FDI strategies in the context of overestimating the China Power or China Money, it should be noted that Korea may have unexpected losses lead to a national by reason of outward and quantitative investment or bad investment.

• Journal of Cadastre & Land InformatiX
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• v.49 no.2
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• pp.135-149
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• 2019

This article analyzed economic effects of changes in spatial accessibility on regional touruism expenditure structure resulting from highway investments on Gangwon province, Korea. The Seemingly Unrelated Regress(SUR) model is applied to analyze the structure of change in tourism expenditure of Gangwon Province, and the competition and complementary relationship of tourist demand were analyzed among 18 counties in Gangwon by Dendrinos-Sonis method. The spatial accessibility has a significant effect on the increase in amount of tourist expenditure, but by 1% increase in the accessibility resulted in a reduction of length of stay -0.18% and travel costs -0.34% by respectively. The most powerful variable for improving the on-site economy is the tourist service establishment, which increases one unit, the amount of tourist expenditure increased by 3.6%. Moreover, the competition and supplemental relationship of tourism demands in Gangwon was decided by the conditions under which traffic flow with passing occurred, such as inland or ocean-typed travel attractions, adjacent or remote regions to the highway. The limitations of this study were not able to use raw data of tourism expenditures before and after the opening the highway due to the restriction of priority data, and further research on the appropriate level of spatial accessibility for the regional economy is needed.

• Journal of Korea Technology Innovation Society
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• v.14 no.2
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• pp.320-342
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• 2011

This paper tries to analyze the evolution of technological innovative pattern in system semiconductor industry from the perspective of the evolution of way by which knowledge is generated and its related evolution of inter-firm relationships. In particular, this paper focuses on the evolution of knowledge after the emergence of EDA as a design tool, as a main momentum. As a result of analysis, we can find out following things. First, the innovative activities have evolved from design activity-centered technology development to innovative activities focusing on searching activities for utilizing knowledge and technology. Second, with rising value of knowledge, creation of new market utilizing knowledge, and development of new industry and new technology through inter-firm relationship had been made, in addition to strengthened specialized technological division of labor. Third, with focusing on utilization of knowledge, inter-firm network has taken diverse forms for building complementary platform for co-development. This discussion can give an insight on the necessity of utilizing inter-firm network strategically and setting strategies for enhanced searching activities such as market creation and knowledge utilization.

• Journal of Korea Trade
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• v.27 no.5
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• pp.1-22
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• 2023

Purpose - Southeast Asia has been the focus of Korea's foreign investment. Korea has been helping developing countries in Southeast Asia achieve economic growth and win-win cooperation through capital exports. FDI is an important channel for technology diffusion. However, the impact of FDI on the bias of technological progress in the host country is dependent on the host country's own endowment structure and capital-labor factor substitution elasticity. Therefore, the central issue of this paper is to accurately evaluate the impact of Korea's FDI to the four Southeast Asian countries in various industries on their bias of technological progress. Design/methodology - The paper uses macroeconomic data for Korea and four East Asian countries to estimate capital-labor factor elasticities of substitution using nonlinear, seemingly uncorrelated regressions (NLSUR). Then, the biased technological change index (BTCI) is calculated for each country. Finally, panel data analysis is used to explore the impact of Korean FDI in various industries in the four Southeast Asian countries on their own directed technological progress, and a robustness test is conducted. Findings - There is a substitution relationship between capital and labor factors based on their elasticity in Korea, Singapore and the Philippines. There is a complementary relationship between capital and labor factors in Indonesia and Malaysia. According to the BTCI, there is a trend toward labor-biased technological progress in all countries. Korean investments in manufacturing, wholesale and retail trade in the host country trigger capital-biased technological change in the host country; investments in the finance, insurance and information and communication sectors trigger labor-biased technological change. In addition, this paper also confirms that directed technological progress can enable cross-country transmission. Originality/value - The innovation of this paper lies in three aspects. First, we estimate the BTCI for five countries and explore the trend and situation of directed technological progress in each country from each country's own perspective. Second, we explore the impact of Korean FDI in the host country on the bias to its technological progress at the industry level. Second, we explore the impact of Korean FDI in various industries in the four Southeast Asian countries on the four countries' own directed technological progress from a national perspective. Finally, we propose corresponding countermeasures for technological progress from the perspective of inverse factor endowment. These innovative points not only expand the understanding of technological progress and cross-country technology transfer in East Asia but also provide practical references for policy-makers and business operators.