• Title/Summary/Keyword: Market Failure

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Environmental Direct Payments and Water Emissions (친환경직불제에 따른 농작 선택과 수질오염)

  • Kim, Ho-Seok
    • Journal of Environmental Policy
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    • v.6 no.1
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    • pp.61-81
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    • 2007
  • Types of agricultural policy can be catagorized into two general cases: price and income supports. Income supports are any government program designed to provide farmers with higher incomes than they would receive otherwise. These direct cash payments to farmers are known as "deficiency payment" or "direct payment" because they compensate the farmer for the failure of the market to provide farmers with adequate prices. The direct payment to environment-friendly agriculture is a form of income supports for the agriculture production using less pesticides and chemical fertilizers. Because no significant regulation exists on the use of fertilizers substituting chemical fertilizers for crop, the role of the payment on reducing environmental impacts of agriculture is not entirely clear. This uncertainty is likely to be particularly severe in the case that farmers with low-quality land showing greater demand for fertiliser have an incentive to transition to environment-friendly agriculture. The paper shows the case of the current payment system in Korea.

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An Integrated Model on the Determinants of Successful Post-M&A Information Systems Integration: A Comparative Case Study of Two Financial Firms in Korea (인수.합병 이후 성공적인 정보시스템 통합 결정요인에 대한 통합적 모델 연구: 국내 금융기관 비교사례분석 중심으로)

  • Lee, Chang-Jin;Lee, Jung-Hoon
    • Information Systems Review
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    • v.11 no.2
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    • pp.45-66
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    • 2009
  • A number of companies are considering for merger and acquisition (M&A) as one of business strategies for their growth and survival. However, many of them do not create the synergy they had sought, and failed M&A, often result in negative outcomes in terms of productivity, market share, profitability and turnover of qualified employees. There have been numerous research studies conducted to analyze the factors that determine the success and failure of M&A, and it has been found that with the increasing dependence of many companies on information systems, post-M&A IS (information systems) integration success has a critical effect on the success of M&A. However, there have been very few studies on post-M&A IS integration success, and most have been restricted to integration of IS organizations or physical information systems. In order to conduct a comprehensive research on the factors that affect the success of post-M&A IS integration, this study surveyed preceding researches on not only information systems but also strategic management, economics, finance, HRM (human resource management) and organization management. Based on the findings, a comprehensive and integrated model of the influential factors on post-M&A IS integration has been proposed. The proposed model categorizes the factors into perspectives of M&A, strategy, organization, HRM and IS, and provides an empirical evaluation of each factor on the success of IS integration based on comparative case studies.

A Research on the Relationship between the Perception of Administrative Regulation and Odor Acceptance among Residents who live in Ochang Industrial Complex Area (오창산업단지 주변지역 주민의 행정규제에 대한 인식과 악취수용성의 상관성 연구)

  • Park, Sung-Sik;Jung, Ju-Yong;Yeon, Ik-Jun
    • Journal of Environmental Impact Assessment
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    • v.24 no.4
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    • pp.332-343
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    • 2015
  • It would be the most effective way to have government take care of social problems and hazardous material danger due to odor. It is also well known that odor acceptance and their willingness to pay for resolving the odor problem vary person by person. This is why public sector's intervention is required to get ride of any possibility of market failure resulted from negative external effect of human. This paper has tried to do empirical research based on survey of residents who are currently living in the area of Ochang industrial complex in North Chong-chung province. According to the empirical research results, first of all, it was proven residents' perception of legal regulation has a negative effect on odor acceptance. That is, the more residents are aware of law and regulation, the less they tend to accept odor. In addition, resident's perception on need to improve odor regulation has a positive impact on their odor acceptance. Finally, residents' satisfaction on the legal complaints to local government has an interaction effect to causative relationship between the perception of improving odor regulation and odor acceptance.

The Role of ADR in the Resolution of the Copyright Disputes (ADR을 통한 저작권분쟁 해결에 관한 검토)

  • Kim, Sun-Jeong
    • Journal of Arbitration Studies
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    • v.21 no.2
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    • pp.85-112
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    • 2011
  • These days utilization of copyright in daily life and economic activities is becoming more important than ever, and IT technology is developing day by day. Along with those fact, copyright infringement and dispute is naturally increasing. This thesis dealt with the 3 different issues of ADR on copyright. The First part, introduce ADR system that was performed by Korea Copyright Committee according to Copyright law. This paper evaluate the committee's efforts to provide resolution of copyright disputes via conciliation was effective. So it needs to be look over several countries' ADR, beside conventional judicial remedy. And Korea's copyright conciliation system which is successfully operating also introduced. Second, In many countries, including South Korea are take advantage of conciliation as the way to settle down the dispute over copyright. Furthermore, looked over if we can use arbitration as tool to settle dispute or not. Currently in Korea, patent dispute is handled by Industrial Property Dispute Conciliation Committee(The Invention Promotion Act Ch.5) and Layout-design Review and Mediation Committee(The Act on the Layout-designs of Semiconductor Integrated Circuits Art.29-34), but using performance of those two committee is still too low. In comparison, the copyright committee, a affiliation organization of the ministry of culture, sports and tourism has much more result in conciliation compare with patent dispute. Copyright disputes has arbitrability of it's subject-matter and many regulating organs are interested in it. (especially, binding of arbitral award and final resolution). Take advantage of both conciliation and arbitration could be good way to resolve copyright disputes. Third, the writer look at the proposal on the creation of Northeast Regional Center for Intellectual Property ADR. Because of the nature of copyright and rapid development of internet technology, international use of work become more frequent and accordingly infringement cases are increasing. The role of commercial arbitration regimes and institutions which has progressed significantly worldwide level, but which has only just begun in the intellectual property ADR area, leads also to a clash of often very different legal cultures and protection in a market economy. International cooperation in regional area with conflict interests becomes an important alternative. But it will depend on the building of regional institutions and mechanisms. The feasibility of this proposal and preconditions were examined. Establishment of new international organization requires a lot of time, cost and efforts. And risk of failure is much too high. Therefore factual, statistical review should be preceded. In addition, technical measures, such as on-line arbitration is necessary to review also. Furthermore in order to establish new organization, the relative law, legal environment, public sentiment and international compliance must be carefully considered with factual review about the needs and economic benefits of each country Yet on complex regulatory matters such as IP and ADR, a great deal of the potential benefits from international standards arises not from the international legal framework nor even the formal content of national legislation, but from the informed and effective use made of the possibilities within the system, including by policymakers and regulators.

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An Empirical Analysis on How Participants' Characteristics and Forum Quality Influence their Expectation and Satisfaction in Social Learning Forum (포럼 품질이 만족도에 미치는 영향에 대한 실증분석: 포럼 참가자 특성 및 기대감의 조절효과를 중심으로)

  • Choi, Eunsoo;Kim, Eunhee;Kim, Chulwon
    • Knowledge Management Research
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    • v.18 no.1
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    • pp.83-116
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    • 2017
  • The purpose of this study is to analyze empirically analyze how the characteristics of participants in educational and social learning forums and the quality of events influence expectations and satisfaction of forums. The study also aims to provide strategic implications for forum organizers and give them suggestions on how to set up target audience, manage forum contents, speakers, and services, improve attendee satisfaction, and ultimately maximize overall outcomes. As exchanges among individuals, enterprises, and organizations, as well as countries are growing rapidly, the convention industry has become a key player in the market. Conventions have also become a venue for people to discuss a specific agenda or topic, exchange information and learn knowledge and insights. Especially, the forum - as part of the convention industry - plays a vital role providing educational and social learning opportunities as scholars and expertise come together to share their knowledge and experience through a variety of discussions. With its role, many of forums are taking place in recent years; however, there have been few empirical studies upon the forum itself. Also, there have been few attempts to research how the quality of forums affect participants' satisfaction along with their characteristics and how much of practical knowledge is provided throughout the events. This study is meaningful in that it is the first practical study that takes a deep understanding of the forum and sees how the quality of the forums influences participants' satisfaction and whether the characteristics of participants have a moderating effect in increasing the level of satisfaction. Forum organizers could also take a strategic approach as their major concerns are to increase the number of participants and raise degree of satisfaction by providing significant information. There are four key elements that determine success or failure of a social learning forum. The four elements are contents, speakers, services, and participants. Content plays an important role in providing rich information and knowledge for participants. Speakers are the main knowledge providers who contribute to the forum's social learning role. Also, the services provided by forum organizers such as simultaneous interpretation services, program brochures, lunch and refreshments, and the overall design of event hall can also influence the level of participants' satisfaction. Lastly, the participants and their characteristics are important since they are the ones who receive knowledge from the providers. The results of this study show that the quality of forum (content, speaker, and services) has a decisive effect on the participants' satisfaction and there are some differences in expectation among the participants in the forum. Also, some groups of participants were more likely to be stimulated by the quality of forum when determining their satisfaction. The study is modeled after MBN Y Forum 2016 and its participants' characteristics. The forum is one of the most representative social learning forums of South Korea and its audiences are mostly young people. It has analyzed how the participants' characteristics influence their satisfaction by grouping them into ${\Delta}participants$ who have invited for free and those who paid for the entrance fee, ${\Delta}first-time$ participants and returning participants, ${\Delta}voluntary$ and involuntary participants, ${\Delta}participants$ who registered through web and those who did through mobile, and ${\Delta}participants$ who registered during pre-sale opens and those who registered during general opens.

Experimental Study on GFRP Reinforcing Bars with Hollow Section (중공형 GFRP 보강근의 인장성능 실험연구)

  • You, Young-Jun;Park, Ki-Tae;Seo, Dong-Woo;Hwang, Ji-Hyun
    • Journal of the Korea institute for structural maintenance and inspection
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    • v.19 no.1
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    • pp.45-52
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    • 2015
  • Fiber-reinforced polymer (FRP) has been generally accepted by civil engineers as an alternative for steel reinforcing bars (rebar) due to its advantageous specific tensile strength and non-corrosiveness. Even though some glass fiber reinforced polymer (GFRP) rebars are available on a market, GFRP is still somewhat uncompetitive over steel rebar due to their high cost and relatively low elastic modulus, and brittle failure characteristic. If the price of component materials of GFRP rebar is not reduced, it would be another solution to increase the performance of each material to the highest degree. The tensile strength generally decreases with increasing diameter of FRP rebar. One of the reasons is that only fibers except for fibers in center resist the external force due to the lack of force transfer and the deformation of only outer fibers by gripping system. Eliminating fibers in the center, which do not play an aimed role fully, are helpful to reduce the price and finally FRP rebar would be optimized over the price. In this study, the effect of the hollow section in a cross-section of a GFRP rebar was investigated. A GFRP rebar with 19 mm diameter was selected and an analysis was performed for the tensile test results. Parameter was the ratio of hollow section over solid cross-section. Four kinds of hollow sections were planned. A total of 27 specimens, six specimens for each hollow section and three specimens with a solid cross-section were manufactured and tested. The change by the ratio of hollow section over solid cross-section was analyzed and an optimized cross-section design was proposed.

Sudden Death Caused by Clostridium perfringens Type D Enterotoxemia in Feedlot Cattle (비육 우의 Clostridium perfringens D 형 장독 혈증에 의한 폐사)

  • Jang, Seong-Jun;Do, Sun-Hee;Ki, Mi-Ran;Hong, Il-Hwa;Park, Jin-Kyu;Cho, Yu-Jeong;Ji, Ae-Ri;Park, Se-Il;Park, Sang-Joon;Kim, Tae-Hwan;Kwak, Dong-Mi;Jeong, Kyu-Shik
    • Journal of Life Science
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    • v.20 no.5
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    • pp.639-643
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    • 2010
  • Sudden deaths have occurred in feedlot cattle with marked necro-hemorrhagic enteritis of the jejunum, ileum and colon. Suckling beef calves are the most frequently affected. Over-consumption of large amounts of milk, inadequate colostrum intake, chilling and stress are conducive to the development of enterotoxemia. Enterotoxemia caused by Clostridium perfringens type D mostly occurs following a sudden change of diet, particularly to feeds made richer in order to grow the cattle to market weight in feedlots. During July 2006, sudden deaths of cattle occurred in the Youngcheon regional area of Gyeongbuk province. There were no significant clinical signs except anorexia, depression, intermittent diarrhea and mild respiratory failure. Histological findings revealed a prominent intranuclear inclusion as well as infiltration of the globular leukocytes in various organs including the heart, kidneys, liver, spleen and lymph nodes. Spleen and lymphatic tissues showed lymphatic necrosis and a starry sky appearance. In the submucosa of the small intestines, basophilic aggregation was detected with massive infiltration of the globular leukocytes and eosinophils. Gram staining for the tissue sections containing inclusions of the small intestines revealed a positive histochemical reaction. Taken together, we suggest that Clostridium perfringens type D-induced enterotoxemia is determined to be the cause of sudden death of feedlot cattle.

Renewable Electricity Promotion Policy in Korea - Feature and Challenges through the Comparative Analysis of EU and Japanese Policy - (한국의 신재생에너지전력 지원정책 - EU와 일본의 제도 비교분석을 통한 지원정책의 현상과 과제 -)

  • Lee, Soo-Cheol;Park, Seung-Joon
    • Journal of Environmental Policy
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    • v.7 no.4
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    • pp.1-34
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    • 2008
  • It is recognized that RPS(Renewable Portfolio Standard) and FIT(Feed-in Tariff) are two main policy instruments to promote Renewable Electricity(RE). The Korean Government announced in 2008 that RE promotion scheme will be changed to RPS from current FIT system in 2012. But we believe RPS is inferior to FIT for promoting less developed technologies such as photovoltaics or wind power. This is because the achievement of RE promotion in countries adopting RPS is markedly worse than that in European counties or Janpan adopting FIT. If the policy change is inevitable, when considering the lessons from Japan's failure as well as supporting the less developed technologies, it is recommended that either the market should be divided into several technology and scale categories, or more RPS-Credit per kWh should be assigned to the photovoltaic and wind power than instead of letting the all technologies compete in the "open category". It is also recommended that (1) Renewable Energy Promotion Fund(tentative name) based on a part of current energy related tax revenue should be introduced, or (2) cost of supporting the Renewable Electricity should automatically be transferred into the electricity bill of electricity consumers following the German System.

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China's Economic Slow-down and the Middle-Income Trap Controversy (중국의 저성장과 '중진국함정론'에 근거한 위기요인 분석)

  • Kim, Eui-Dong
    • International Area Studies Review
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    • v.20 no.2
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    • pp.113-140
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    • 2016
  • This paper first extracts the main basis for the Middle-Income Trap(MIT) to apply these grounds to reality of the Chinese economy. And then confirmed crisis factors of China economy. Also discussed then the economic reforms of China in order to not fall into the MIT. After reviewing previous research extracted six factors the results will correspond to comply with the Chinese economy. Those are 'Over-investment', 'excess capacity' 'reduction of TFP continued,' 'disappearance and the aging of the population bonus', 'excessive debt and structural adjustment and financial instability of the company', 'income unequal expansion', 'low financial and information infrastructure accessibility', and 'low transparency index'. China's policy direction to avoid the MIT generally set properly, but proof that implementation process not easy, was appearing everywhere. After all, China economy should be modified now to a reforms of 'government failure' and promotion of function for ongoing restructuring system in the market. Because of the SDR incorporation from 2015, it is inevitable to face major constraints in the external aspects.

Study on Estimating Economic Risk Cost of Aids to Navigation Accident in Busan Port, Korea using Contingent Valuation Method (조건부가치측정법을 이용한 부산항 항로표지사고에 대한 항행 위험비용의 추정에 관한 연구)

  • Kim, Tae-Goun;Moon, Beom-Sik
    • Journal of Navigation and Port Research
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    • v.42 no.6
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    • pp.478-485
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    • 2018
  • Aids to Navigation (AtoN) is one of the marine traffic safety facilities that promotes the safety of maritime traffic and enhance ship's operational efficiency. However, functional failure of AtoN due to ship's collision or bad weather conditions leads to inconvenience or navigational risk to various users such as the ship operators. For insstance, the largest container port in Korea, Busan Port has experienced a total of 400 AtoN accidents in the past 12 years (2006-2017).Therefore, an average of 20.6 days of recovery time is required, which increases the maritime safety anxiety for AtoN users. is the objective of this study was to present the quantitative support of the users for the prevention of AtoN accidents and the improvement of the feasibility of implementing more efficient management in Korea. A survey was conducted on the users of Busan port areas to investigate general perception of AtoN in general and the accidents that have happened, and to estimate the economic value of navigational risk reduction by implementing effective AtoN management measure. Using the representative non-market valuation method for environmental or public goods known as contingent valuation method (CVM), the economic value granted to users for the AtoN services in Busan port was estimated to at least 16 billion won. Therefore, these finding could be used by AtoN managers and/or policy makers as a valuable data to identify the users' need of various AtoN services including Busan Port and to establish and implement more efficient management plan.