• Journal of the Korea Academia-Industrial cooperation Society
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• v.10 no.7
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• pp.1696-1701
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• 2009

In this paper we analyzed the management performance as the result of the korean government's support policy for the small and medium sized business (SMB). The governmental support policy was carried out for the companies classified in 3 criterion. The first is the upbringing of dynamic SMB group, which are driven by creativity and innovation. The second is the enforcement of technology-innovation and cooperation for SMB. The last is the establishment of the growth basis for SMB like funds, human resources and distribution channels. After categorization of above 3 classes, the affect of support policy on the management performance is analyzed, in terms of 3 aspects, management performance, technical performance and policy satisfaction. This study shows that the governmental support policy has the remarkable effects on the financial support sector of SMB. The 5 major sectors, 1) the upbinging of venture-innobiz innovation company, 2) rearing funds of knowledge-based service company, 3) R&D support, 4) support of management stability fund, 5) expansion of distribution channel to the public sector, are designed from 24 variables. The 3 sectors of these 5 are have the main influences from governmental support policy.

• The Journal of Asian Finance, Economics and Business
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• v.5 no.4
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• pp.135-147
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• 2018

There has been a recent increase in the interest towards founding companies and in line with the South Korean Government's policy on start-up support, discussions are rife about the effect of entrepreneurship on the management and performances of these companies. To enhance the competitiveness of SMEs, it is expedient to acquire and deploy consistent entrepreneurship, differentiate corporate resources, ensure the appropriate utilization of resources and the integration of such factors in response to the changing environment. This research examines relationships among entrepreneurship, three components of corporate capabilities, dynamic capability and technical performance based on resource-based view and the dynamic capability theory. The authors also investigate the moderating role of corporate life cycle. To test the hypothesis, we conducted a survey on 352 technologies -innovative SMEs located in South Korea via professional research institutes. The findings confirm the hypothesis that SMEs' entrepreneurship has a positive effect on three kinds of corporate capabilities (e.g., marketing, R&D, operations capability), and it had a positive effect on dynamic capability, whiles dynamic capability also had an influence on technical performances. The findings also confirmed the hypothesis that corporate life cycle moderates the relationship between dynamic capability and technical performances respectively. The research implications for both practitioners and academicians are discussed.

• International Journal of Highway Engineering
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• v.14 no.4
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• pp.163-173
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• 2012

PURPOSES : The purpose of this study is to check the possibilities of traffic pattern analysis using MatSIM for urban road network operation in incident case. METHODS : One of the stochastic dynamic models is MatSIM. MatSIM is a transportation simulation tool based on stochastic dynamic model and activity based model. It is an open source software developed by IVT, ETH zurich, Switzerland. In MatSIM, various scenario comparison analyses are possible and analyses results are expressed using the visualizer which shows individual vehicle movements and traffic patterns. In this study, trip distribution in 24-hour, traffic volume, and travel speed using MatSIM are similar to those of measured values. Therefore, results of MatSIM are reasonable comparing with measured values. Traffic patterns are changed according to incident from change of individual behavior. RESULTS : The simulation results and the actual measured values are similar. The simulation results show reasonable ranges which can be used for traffic pattern analysis. CONCLUSIONS : The change of traffic pattern including trip distribution, traffic volumes and speeds according to various incident scenarios can be used for traffic control policy decision to provide effective operation of urban road network.

• The Journal of Industrial Distribution & Business
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• v.10 no.1
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• pp.29-37
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• 2019

Purpose - We study the dynamic linkages of the economic policy uncertainty (EPU) in the US on the manufacturing stock market returns in Korea. In detail, we examine the casual link between EPU index in the US and the manufacturing stock indexes in Korea. Research design, data, and methodology - We measure mainly the distribution effect of the US EPU on the manufacturing stock market in Korea of 1990-2017 by the vector error correction model (VECM). Result - In result, we estimate the impact of the US EPU index has significantly a negative response to the manufacturing stock market in Korea such as non-metal stock index, chemical stock index, food stock index, textile·clothes stock index, automobile·shipbuilding stock index, machinery stock index, steel·metal stock index. Also the remaining variables such as electric·electronics stock index, S&P 500, and producer price index in Korea have a negative relationship with US EPU index. Conclusions - We find out that the relationship between EPU index of the US and the manufacturing stock market in Korea has the negative relationships. We determine the EPU of the US has the spillover effect on the industry stock markets in Korea.

• 한국디지털정책학회:학술대회논문집
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• 2007.06a
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• pp.325-332
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• 2007

The purpose of this study is to get a politic advanced idea to operate a pro-environment based u-city through the overcome problems on the construction policy for the even areal distribution, and the development for the model structure of the high level. Advanced pro-environmental ubiquitous urban construction becomes an example of the practical level linked by the national agenda as uKorea policy. The Idea of the national land informal ion systems transforms to enhance or to guide the national strategic industry to implement balanced development as grand objectives of the national land due to the factor that 'the economic development 5 years plan' altered to 'the national land 5 years plan'. Therefore, ubiquitous echo city construct ion becomes realized as static spatial informal ion construct ion and dynamic mobile based ubiquitous lives operable by the information infrastructure and IT839 policy items operation. For the synergy effects through this task, it requires a strong empowerment of the information industries and a new growing core engine of the national economy through the policy of the mutual satisfaction on the spat io-temporal information and the pro-environment information systems.

• Information Systems Review
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• v.12 no.1
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• pp.189-207
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• 2010

We applied IT ecosystem analysis to Smart Grid system in this paper and thereby compared various arguments about Smart Grid technologies against the reality of the power generation and distribution in South Korea with a special attention to the power distribution side. Our work attempts to propose policy implications in the government-level based on a firm-level analysis using the framework of the competitive strategy and advantage. The Smart Grid initiative is expected to enhance the efficiency in the power generation and distribution. In addition, the Smart Grid initiative aims at capturing the opportunities in the electric power business such as parts, components, supplies, and system products in the global arena. Prerequisites of smart distribution system include building infrastructure based on smart distribution parts, information systems, communication technologies, and developing various application programs and interfaces that would interact with the consumers. Consumers are expected to play an integral role by changing their consumption patterns in response to dynamic pricing and quality choices enabled by the smart distribution technologies. In order to induce the consumers to participate actively in the program, firms and policy makers should consider providing consumers economic incentives and proper education for better understanding of new technologies. Our work helps policy makers and firm better understand the nature of technology and stakeholders for the successful implementation of smart distribution technologies.

• Journal of Distribution Science
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• v.11 no.10
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• pp.73-79
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• 2013

Purpose - This study examines the impact of oil price volatility on economic activities in Korea. The new millennium has seen a deregulation in the crude oil market, which invited immense capital inflow into Korea. It has also raised oil price levels and volatility. Drawing on the recent theoretical literature that emphasizes the role of volatility, this paper attends to the asymmetric changes in economic growth in response to the oil price movement. This study further examines several key macroeconomic variables, such as interest rate, production, and inflation. We come to the conclusion that oil price volatility can, in some part, explain the structural changes. Research design, data, and methodology - We use two methodological frameworks in this study. First, in regards to the oil price uncertainty, we use an Exponential-GARCH (Exponential Generalized Autoregressive Conditional Heteroskedasticity: EGARCH) model estimate to elucidate the asymmetric effect of oil price shock on the conditional oil price volatility. Second, along with the estimation of the conditional volatility by the EGARCH model, we use the estimates in a VECM (Vector Error Correction Model). The study thus examines the dynamic impacts of oil price volatility on industrial production, price levels, and monetary policy responses. We also approximate the monetary policy function by the yield of monetary stabilization bond. The data collected for the study ranges from 1990: M1 to 2013: M7. In the VECM analysis section, the time span is split into two sub-periods; one from 1990 to 1999, and another from 2000 to 2013, due to the U.S. CFTC (Commodity Futures Trading Commission) deregulation on the crude oil futures that became effective in 2000. This paper intends to probe the relationship between oil price uncertainty and macroeconomic variables since the structural change in the oil market became effective. Results and Conclusions - The dynamic impulse response functions obtained from the VECM show a prolonged dampening effect of oil price volatility shock on the industrial production across all sub-periods. We also find that inflation measured by CPI rises by one standard deviation shock in response to oil price uncertainty, and lasts for the ensuing period. In addition, the impulse response functions allude that South Korea practices an expansionary monetary policy in response to oil price shocks, which stems from oil price uncertainty. Moreover, a comparison of the results of the dynamic impulse response functions from the two sub-periods suggests that the dynamic relationships have strengthened since 2000. Specifically, the results are most drastic in terms of industrial production; the impact of oil price volatility shocks has more than doubled from the year 2000 onwards. These results again indicate that the relationships between crude oil price uncertainty and Korean macroeconomic activities have been strengthened since the year2000, which resulted in a structural change in the crude oil market due to the deregulation of the crude oil futures.

• The Journal of Industrial Distribution & Business
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• v.9 no.10
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• pp.73-82
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• 2018

Purpose - Unstable vegetable prices have been one of the major concerns in Korean agricultural and food marketing system. The Korean government has implemented a number of policy instruments, including government purchasing programs in order to alleviate fluctuations in vegetable prices. The economic impact of policy instruments has been assessed based on the average monthly price change rate before and after the implementation of the policy. However, this approach failed to provide a net impact of policy measures on price stabilization in the vegetable markets, as policy impacts could not be successfully distinguished from other effects on price changes in the vegetable market. The purpose of this study is to evaluate the net impact of the government purchasing program on the price volatility of dried red pepper which is considered one of the major vegetables in Korea. Research design, data, and methodology - This study develops a monthly dynamic partial equilibrium model of Korean dried red pepper market. Behavioral equations in the model were estimated by OLS and synthetic method based on the annual and monthly time series data from 1993 to 2015. The model is first simulated to yield actual dried red pepper market conditions in 2015 as a baseline and then compared it to the scenario assuming that there were no government purchases of dried red pepper in 2015. Results - According to the ex-post scenario analysis using the developed model, without the government procurements in 2015, the average monthly price change rate and the value of coefficient of variation of dried red pepper in 2015 would be respectably 7.9 percent and 0.10. It is relatively higher than the actual average monthly price change rate and the value of coefficient of variation of dried red pepper in 2015 which were respectively 1.7 percent and 0.06. Conclusions - The ex-post simulation results in this study shows that if there were no government purchases of dried red pepper in 2015, the dried red pepper market would have had much higher volatile price movements. The results of this study would provide useful information for future price stabilization policy of vegetable markets in Korea.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.9
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• pp.113-119
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• 2021

With the increasing pressure of international competition, urban agglomeration cooperation and innovation had become an important means of regional economic development. This study analyzed the spatial characteristics of the Urban Cooperative Innovation Network in Guangdong-Hong Kong-Macao Greater Bay Area, found out the dynamic evolution law of innovation, provided suggestions for policy management departments, and effectively planned the industrial layout. According to the data of the State Intellectual Property Office of China, this study researched invention patents from 2005 to 2019. This paper constructed the urban cooperative innovation network, and took 11 cities in the bay area as the research objects, and used social network analysis to study the spatial structure and dynamic evolution of the urban innovation network. Every indicator reflected the urban cooperative innovation, but they all showed a certain decline in 2008-2010. And it is inferred that the innovation network space of each city will be "obvious fist advantages, significant spillover effect and weakening role of Hong Kong and Macao". This paper divided urban cooperative innovation of Guangdong-Hong Kong-Macao Greater Bay Area into three stages. Summing up the characteristics of each stage is helpful to recognize the changes of urban cooperative innovation and to do a good job in industrial layout planning.

• Journal of the Korean Operations Research and Management Science Society
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• v.30 no.2
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• pp.117-129
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• 2005

This paper considers a make-to-order inventory-production system in which customer orders are admitted only when the number of outstanding customer orders is below a value committed by the system. We deal with general distributions for the customer order Inter-arrival, production, and replenishment lead time processes. Monotonicities of the optimal average cost with respect to these distribution parameters are established using sample path coupling arguments. When distributions are given as an exponential one, we implement a sensitivity analysis on the optimal inventory policy and show that it has monotonicities with respect to system costs using dynamic programming.