• Journal of the Korea Academia-Industrial cooperation Society
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• v.18 no.1
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• pp.679-687
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• 2017

This study examines financial factors affecting cash holdings of firms in the domestic capital markets. Specifically, this study focuses on regional firms with headquarters in Chungcheong province, the Republic of Korea, which features little previous research concentrating on the firms in the particular region. Three primary hypotheses were empirically tested utilizing robust econometric models, including static panel data, Tobit regression, and logistic models.Results reveal only five explanatory variables, including DSO, LIQUID, LEVERAGE, PMARGIN, and SIZE, showed statistically significant effects on the level of cash holdings among the nine variables studied. In addition two IDVs, LEVERAGE and FOS, showed significant differentiated effects between firms with headquarters in North and South Chungcheong regions. With continued debate among interested parties on the optimal level of cash reserves, the study provides a new vision for the optimal cash reserves for firms with headquarters in Chungcheong Province, where unprecedented socio-economic factors are driven.

• Health Policy and Management
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• v.15 no.4
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• pp.136-160
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• 2005

Before introducing the national long-term care insurance in 2008, the want for long term care service has to be estimated and analysed. This study estimates the demand and analyses what determines the want of long term care service. This study investigated data of 3f6 elderlies, that was collected by age stratified random sampling. The elderies resided in Onyang 4 - dong (urban area) and Dogo-myun (rural area) In the city of Asan. The researchers visited the elderlies and their care giver, and assessed their demand for the long term care service and examined physical, mental, socio-economic status by the assessment tools for Korean Long-Term Care System. $64\%$ of the those who are entitled to be served refuse the long term care service. $26.7\%$ of them wants for home care service and $7.9\%$ want facility care service. It is estimated that the want of home care service are three or four times as much as that of facility care service. The demand for long term care service is 5.155 times higher for those who live in rural area (p=0.000), 3.040 times higher for those who do not have spouse(p=0.057), and 3.356 times higher for the people who is in medicaid than medical insurance(p=0.029). However, income(p=0.782), means(p=0.614), living alone(p=0.223), number of family to live with (p=0.341) and age of the elderly(p=0.420) are not related with the demand of long term care service. The assessment tools for Korean Long-Term Care System for need evaluation of the long term care service can reflect the demand well.(p=0.024) If medical care will cover $80\%$ of total cost, the willingness to pay of the out of pocket money of the people with medical insurance is 67,400 Korean Won(66.77 US$) for the home care service and 182,500 Korean Won(180.78 US$) for the facility care service. There is possibility that long term care demand is still small after Introducing the long term care Insurance due to the care given by family members. When developing service delivery system of long term care insurance, rural area has to be given more consideration than urban area because of the higher demand. The people who do not have spouse or are in medicaid have to be given special consideration as well.

• Korea journal of population studies
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• v.33 no.2
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• pp.33-59
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• 2010

This paper intends to find the determinants of the occupational aspirations of college students in Korea. According to Wisconsin model, the occupational aspiration of youth has a statistically significant influence on his or her actual education level and occupation choice implying that the more motivated with high-level occupational aspiration will obtain the higher level of occupation. The analysis for this study is based on the survey of undergraduate students' perception, attitude and lifestyle in Korea 2004, which was conducted against 1,947 respondents, and multiple regression model was utilized. The dependent variable for occupational aspirations was measured by the Standard International Occupational Prestige Scale (SIOPS) of Donald J. Treiman. Independent variables include social capital and cultural capital as well as demographic variables, socio-economic status, and human capital variables. Social capital variable was measured by the position generator scale of Nan Lin and Mary Dumin, and cultural capital variable was done to our original index. This study shows that social and cultural capitals are factors having significant influence on occupational aspiration, in addition to the well-known factors such as gender, human capital and the occupation of father.

• Journal of Korea Technology Innovation Society
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• v.21 no.4
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• pp.1606-1632
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• 2018

This study analyzes the technology billionaires with the combination of technology commercialization studies and billionaire research. However, we will not discuss individual billionaires, but discuss the general features of technology billionaires. This study assumes that the answers to the technology commercialization studies are in the technology billionaire researches. In other words, unlike the technology commercialization studies so far, it can be said that it is a retrospective approach of technology commercialization to see the process and the beginning from the result. The conclusion of this study is as follows. First, technology billionaires are in the middle rank among industries, but their wealth is the best. Second, in the technology sector, four 20s are self-made billionaires. It is a matter of securing technological opportunities, not a long training and preparation. Third, the determinants of technology billionaires are population size and venture capital investment. This means technological efforts and sufficient market conditions are the basis for the development of technology billionaires. Fourth, only high income is not the determinant of technology billionaires. There are many small countries that are very rich but can not utilize technology. Technology billionaires can appear in countries with a minimum of US $ 20,000, unless the country has a huge population such as China and India. Sixth, technology billionaires in the diversified business, classified as Chaebol in low-income countries become scarce in the countries over the US $ 40,000. Billionaires will increase rapidly from the mid-2000s. However, this is not explained by the income increase effect. The world's income increase has been slowing since the 1980s. The market economy effect of the socialist countries is not the reason, because it is limited to some socialist countries. Ultimately, the main reason is the new technology opportunity called the IT paradigm.

• Journal of Global Scholars of Marketing Science
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• v.17 no.3
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• pp.1-19
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• 2007

1. Purpose Rural tourism is made by individuals with different characteristics, needs and wants. It is important to have information on the characteristics and preferences of the consumers of the different types of existing rural accommodation. The stud aims to identify the determinants of consumer preference by type of accommodations. 2. Methodology 2.1 Sample Data were collected from 1000 people by telephone survey with three-stage stratified random sampling in seven metropolitan areas in Korea. Respondents were chosen by sampling internal on telephone book published in 2006. We surveyed from four to ten-thirty 0'clock afternoon so as to systematic sampling considering respondents' life cycle. 2.2 Two-step cluster Analysis Our study is accomplished through the use of a two-step cluster method to classify the accommodation in a reduced number of groups, so that each group constitutes a type. This method had been suggested as appropriate in clustering large data sets with mixed attributes. The method is based on a distance measure that enables data with both continuous and categorical attributes to be clustered. This is derived from a probabilistic model in which the distance between two clusters in equivalent to the decrease in log-likelihood function as a result of merging. 2.3 Multinomial Logit Analysis The estimation of a Multionmial Logit model determines the characteristics of tourist who is most likely to opt for each type of accommodation. The Multinomial Logit model constitutes an appropriate framework to explore and explain choice process where the choice set consists of more than two alternatives. Due to its ease and quick estimation of parameters, the Multinomial Logit model has been used for many empirical studies of choice in tourism. 3. Findings The auto-clustering algorithm indicated that a five-cluster solution was the best model, because it minimized the BIC value and the change in them between adjacent numbers of clusters. The accommodation establishments can be classified into five types: Traditional House, Typical Farmhouse, Farmstay house for group Tour, Log Cabin for Family, and Log Cabin for Individuals. Group 1 (Traditional House) includes mainly the large accommodation establishments, i.e. those with ondoll style room providing meals and one shower room on family tourist, of original construction style house. Group 2 (Typical Farmhouse) encompasses accommodation establishments of Ondoll rooms and each bathroom providing meals. It includes, in other words, the tourist accommodations Known as "rural houses." Group 3 (Farmstay House for Group) has accommodation establishments of Ondoll rooms not providing meals and self cooking facilities, large room size over five persons. Group 4 (Log Cabin for Family) includes mainly the popular accommodation establishments, i.e. those with Ondoll style room with on shower room on family tourist, of western styled log house. While the accommodations in this group are not defined as regards type of construction, the group does include all the original Korean style construction, Finally, group 5 (Log Cabin for Individuals)includes those accommodations that are bedroom western styled wooden house with each bathroom. First Multinomial Logit model is estimated including all the explicative variables considered and taking accommodation group 2 as base alternative. The results show that the variables and the estimated values of the parameters for the model giving the probability of each of the five different types of accommodation available in rural tourism village in Korea, according to the socio-economic and trip related characteristics of the individuals. An initial observation of the analysis reveals that none of variables income, the number of journey, distance, and residential style of house is explicative in the choice of rural accommodation. The age and accompany variables are significant for accommodation establishment of group 1. The education and rural residential experience variables are significant for accommodation establishment of groups 4 and 5. The expenditure and marital status variables are significant for accommodation establishment of group 4. The gender and occupation variable are significant for accommodation establishment of group 3. The loyalty variable is significant for accommodation establishment of groups 3 and 4. The study indicates that significant differences exist among the individuals who choose each type of accommodation at a destination. From this investigation is evident that several profiles of tourists can be attracted by a rural destination according to the types of existing accommodations at this destination. Besides, the tourist profiles may be used as the basis for investment policy and promotion for each type of accommodation, making use in each case of the variables that indicate a greater likelihood of influencing the tourist choice of accommodation.

• Journal of Intelligence and Information Systems
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• v.19 no.2
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• pp.141-156
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• 2013

Researchers in welfare services of local government in Korea have rather been on isolated issues as disables, childcare, aging phenomenon, etc. (Kang, 2004; Jung et al., 2009). Lately, local officials, yet, realize that they need more comprehensive welfare services for all residents, not just for above-mentioned focused groups. Still cases dealt with focused group approach have been a main research stream due to various reason(Jung et al., 2009; Lee, 2009; Jang, 2011). Social Security Information System is an information system that comprehensively manages 292 welfare benefits provided by 17 ministries and 40 thousand welfare services provided by 230 local authorities in Korea. The purpose of the system is to improve efficiency of social welfare delivery process. The study of local government expenditure has been on the rise over the last few decades after the restarting the local autonomy, but these studies have limitations on data collection. Measurement of a local government's welfare efforts(spending) has been primarily on expenditures or budget for an individual, set aside for welfare. This practice of using monetary value for an individual as a "proxy value" for welfare effort(spending) is based on the assumption that expenditure is directly linked to welfare efforts(Lee et al., 2007). This expenditure/budget approach commonly uses total welfare amount or percentage figure as dependent variables (Wildavsky, 1985; Lee et al., 2007; Kang, 2000). However, current practice of using actual amount being used or percentage figure as a dependent variable may have some limitation; since budget or expenditure is greatly influenced by the total budget of a local government, relying on such monetary value may create inflate or deflate the true "welfare effort" (Jang, 2012). In addition, government budget usually contain a large amount of administrative cost, i.e., salary, for local officials, which is highly unrelated to the actual welfare expenditure (Jang, 2011). This paper used local government welfare service data from the detailed data sets linked to the Social Security Information System. The purpose of this paper is to analyze the factors that affect social welfare spending of 230 local authorities in 2012. The paper applied multiple regression based model to analyze the pooled financial data from the system. Based on the regression analysis, the following factors affecting self-funded welfare spending were identified. In our research model, we use the welfare budget/total budget(%) of a local government as a true measurement for a local government's welfare effort(spending). Doing so, we exclude central government subsidies or support being used for local welfare service. It is because central government welfare support does not truly reflect the welfare efforts(spending) of a local. The dependent variable of this paper is the volume of the welfare spending and the independent variables of the model are comprised of three categories, in terms of socio-demographic perspectives, the local economy and the financial capacity of local government. This paper categorized local authorities into 3 groups, districts, and cities and suburb areas. The model used a dummy variable as the control variable (local political factor). This paper demonstrated that the volume of the welfare spending for the welfare services is commonly influenced by the ratio of welfare budget to total local budget, the population of infants, self-reliance ratio and the level of unemployment factor. Interestingly, the influential factors are different by the size of local government. Analysis of determinants of local government self-welfare spending, we found a significant effect of local Gov. Finance characteristic in degree of the local government's financial independence, financial independence rate, rate of social welfare budget, and regional economic in opening-to-application ratio, and sociology of population in rate of infants. The result means that local authorities should have differentiated welfare strategies according to their conditions and circumstances. There is a meaning that this paper has successfully proven the significant factors influencing welfare spending of local government in Korea.