• Knowledge Management Research
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• v.21 no.2
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• pp.21-40
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• 2020

Korea Credit Guarantee Fund(KODIT) is a public financial institution under the provision of the Korea Credit Guarantee Fund Act. Facing the waves of change both locally and globally, KODIT will serve as 'social value creator' in making a paradigm shift from a large corporation(Conglomerate-dominated) economy to a social enterprise-oriented one based on social economy. This study focuses on the supporting service programs for social enterprises and job creation how it affects the performance of social value creation of KODIT. There is currently no detailed research of the social value in terms of the business and management academic agenda. Therefore, the present study describes the importance of social value creation on the policy financial institution. This study conducted in-depth case study for social value performance. As a public policy financial institution, KODIT exert diverse efforts to correct market failure and achieve inclusive growth. For example, KODIT extends credit guarantee services for the liabilities of promising corporations and stimulates financial and non-financial supporting programs for social enterprises. Although the role of social value and social economy has gained business field attention, few investigations have been conducted to explain how social value is achieved. The present study can thus act as the foundation for exploring the social value creation in the circumstances of public financial institution.

• Journal of Distribution Science
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• v.16 no.9
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• pp.35-41
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• 2018

Purpose - The purpose of was paper is to do a conceptual analysis of the determination of local superior commodities using the location quotient technique and an analysis of the contribution of superior products to the regional economy. The results of determining superior commodities are used to determine regional product specialization and its contribution to the regional economy. Local superior commodities are dynamic and selected based on the potential to increase regional income. Research design, data, and methodology - This study used location quotient techniques and regional economic analysis with annual data rocks, production data in the agriculture, plantation, fishery and forestry sectors. Local superior commodities are calculated to contribute to regional economists. Result - The findings obtained showed the location quotient technique can determine local superior commodities and local superior commodities contributed positively to the regional economy. The test results were carried out in Jember Regency, East Java Province, Indonesia. Conclusion - The ass well main commodities of Jember Regency are tobacco. Tobacco commodities contribute positively to the regional economy, they were not significantly due to affected by the low of commodity prices in harvest. The low prices indicate the strength of the weak bargaining position of farmers towards the market.

• East Asian Journal of Business Economics (EAJBE)
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• v.10 no.1
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• pp.95-108
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• 2022

Purpose - This study attempts a multifaceted analysis utilizing the Chinese test takers' results of the Economy & Business Aptitude Test. Since Chinese students study socialist theories of economics along with market-based ones, comparing Chinese university students' basic knowledge of economics and business and its application to those of Korean test takers is also very meaningful from the perspective of economics education research. Research design, data, and methodology - This study investigates the results on the test of economy and business understanding between Korea and China. For comparison of the result, we conducted MK-TEST for two universities in China. Result - This study finds that the average correct answer rate of Korea is higher than one of China according to the overall results. The average difference rate is about 15% between Korea and China. More concretely, the correct answer rate of business area is higher than one of economy area, identifying them by subject area. Conclusion - According to the results, this study can infer that there are no or little differences in the ability of examinee to solve applied questions between Korea and China and the differences of the scope and emphasis point in an academic curriculum between both countries might bring these kinds of results. Finally, Chinese students shows higher correct answer rate to the questions about the economy issues and policies related to China than one of Korea examinee.

• 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.

• Asia-Pacific Journal of Business
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• v.8 no.2
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• pp.1-14
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• 2017

Initial public offering (IPO) has been well known to be underpriced initially and under-performed in the long run. However, whether an IPO is underpriced or not strongly depends on how to measure the fair value. This paper hand collects data of IPOs newly listed in Korea market when whether IPO is overpriced or not is clearly distinguishable. The overpriced IPO refers to as the one the underwriters buy back after the listing. With the data, the paper examines that IPOs are overpriced and that the characteristics are related to the underpricing at the aftermarket dates and the performance in the long run. The data of clearly overpriced IPOs are little available from other IPO markets like US IPO market. From the data of IPOs listed under the underwriting rule of market stabilization, the results obtainable are the followings. First of all, the average initial return 70% of the underpriced IPO at the aftermarket dates is greater than the one 40% of the overpriced one. The overpriced IPOs are priced highly over the mid prices of the price bands at the pricing dates and then supported by relatively higher subscription rates of individual investors. The probit analyses moreover report that individual investors do not distinguish the overpricing of IPOs from the underpricing. These imply that the overpricing is strongly affected by the underwriting rule on the initial pricing.

• Asia-Pacific Journal of Business
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• v.8 no.2
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• pp.15-30
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• 2017

This study analyzes the relationship between income inequality and economic growth. Gini coefficient (market income), the deciles income inequality index and per capita real GDP were analyzed. Furthermore, various cointegration tests were tried to improve the reliability of the test results. From the weak exogeniety test of between per capita real GDP and the Gini coefficient (market income), per capita real GDP has a weak exogeneity while the Gini coefficient is endogenous. From the various cointegration tests, we found out that there is a cointegration between Gini coefficient and per capita real GDP. Moreover, it is estimated that per capita real GDP has a positive effect on the Gini coefficient (market income). In the VAR Granger causal analysis, per capita real GDP affects the Gini coefficient (market income), but it is difficult to say that the Gini coefficient (market income) always has an effect on per capita real GDP. Also, the impulse-response function of the VAR model shows that per capita real GDP temporarily reduces the Gini coefficient (market income), and then increases it over time. Accordingly, it is necessary for the policies to improve not only the distribution structure but also income distribution through economic growth.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.72
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• pp.161-183
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• 2016

This study looked at the Korea enterprise in China market practices and strategies in accordance with the Korea China FTA macroscopically. And the systematic localization in the mid-to long-term decisions necessary for successful, it is important to the local economy by contributing to strategic social contribution activities also ensure the reliability of consumers. In addition to factors that may enjoy various benefits from an Korea China FTA strategy it is also needed to maximize the additional benefits of the FTA signed by Korea before. In particular, this strategy requires that the biggest benefits of FTA, that determine the tariff cuts by FTA partners to take advantage of it. In addition, the strategy that should be taken in advance to prevent any unnecessary risks through the recent rapid and thorough understanding of the appropriate response, Chinese, Chinese culture on O2O retail market. It is considered that the Korea China FTA requires multidimensional efforts with seeking a comprehensive and affordable countermeasures in order to act as an important factor for Korea market companies, government, companies and academia at the same time. In particular, the idea to carefully look at the various features with the Chinese consumer market will be a very important point.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.10
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• pp.523-530
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• 2020

The efficient market hypothesis explains the random walk hypothesis suggesting that stock prices are independent of each other, hence, it is impossible to earn abnormal profits. The positive effect of a well-functioning and highly efficient stock market on the performance of an economy motivated the Philippine Stock Exchange to pursue massive modernization initiatives. This research provides evidence of the existence of random walk in the Philippine stock market employing the Augmented Dickey-Fuller (1981) and Phillips-Perron (1988) unit root tests, the Lo-MacKinlay's (1988) conventional variance ratio test, and Chow-Denning's (1993) simple multiple variance ratio test. Results of the ADF and PP unit root tests confirm the necessary condition for a random walk. The Chow-Denning (1993) maximum /z/ statistic and the Wald test statistic as in Richardson and Smith (1991) for the joint hypotheses and the Lo and MacKinlay (1988) individual statistics variance ratio test generally accepted the null hypothesis of a random walk. That is, the unit root and variance ratio tests consistently indicate that the null hypothesis of random walk cannot be rejected. The existence of a random walk in weak-form efficiency can be attributed to market liquidity as a result of continuous development and modernization of the Philippine equity market.

• The Research Journal of the Costume Culture
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• v.15 no.4
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• pp.593-603
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• 2007

The purpose of this study is to study the Central Asian costumes($1{\sim}7C$) and develop new design items and suggest new brand launching. Korean apparel industry has been suffering from imbalance of supply and demand caused by the sagging economy and too many apparel companies. Due to the several years of recession, clothing consumption decreased and foreign brand's market share got bigger. As a result, managing a company became difficult and it is time for Korean apparel industry to enter the global market. We need a brand with new image and design that has big potential of purchasing power not only in Korea but also in China, and furthermore in global market. But even nearby Chinese market already became very competitive. One way of approaching Chinese fashion market is to find something special, for example, their historical background. Central Asian culture and costumes, a part of China, has both Eastern and Western culture. No other apparel industry had interest in the Central Asian costumes yet. Therefore, through their costume, a fresh design idea can be suggested.

• Journal of the Korea Safety Management & Science
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• v.13 no.3
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• pp.175-182
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• 2011

The purpose of this article is to suggest what is the desirable direction of economic relationship between Korea and China. The economic relationship between countries is based on how the present network is. As the economic relationship between countries grows, the network between countries will expand. In the past, the economic relationship between Korea and China is cooperative one from the viewpoint of international division of labor. Korean industries was focused on the value-added and mid-advanced technology products, while Chinese was focused on the labor-intensive products. As the China's economy grows for more than thirty years, there is a great change in China's economic policies and environment. China's industry structure is moving from the labor-intensive industry to technology-oriented industry. China's exports to the global market is increasing very fast, and China's domestic market is also growing. The change in Chinese industries' structure bring about severe competition in the global market. The expanding China's domestic market is also good opportunity as the new market in the world. The change in China's industrial structure needs for Korea to establish the 'New Network" between two countries. Korea has to grab the new opportunities in the China's domestic market and find new cooperative network with the products and industries.