• East Asian Economic Review
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• v.25 no.1
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• pp.3-31
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• 2021

This paper estimates the effects of transport (road and rail) & energy and ICT infrastructure (telephone, mobile, and broadband) on GDP growths in neighboring countries as well as own countries. We confirm positive direct contributions of infrastructure, access to Internet, and human capital on economic growth. The spatial panel regression models indicate that there exist positive externalities of the broadband infrastructure and human capital, and these results are robust regardless of the choice of spatial weight matrices. Our findings on spillover effects of infrastructure suggest the key role of neighboring countries' infrastructure on own country's economic growth.

• Korea Trade Review
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• v.42 no.4
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• pp.49-68
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• 2017

This paper investigates the spillover effect of the U.S. Interest on Korea's interest rate as well as the role of exchange rate in the spillover effects, by utilizing a open macro model on the determinants of long-term interest rates. According to the cointegration estimation and the Impulse response function, it is found that, across both long-term and short-term, there exist the spillover effect of the U.S. Interest on Korea's interest rate. The fiscal deficit and expected exchange rate have significantly positive relationship with the Koreas's long-term interest rate. Further, foreign exchange market intervention in Korea did not have significant effect on the spillover effect. Thus, this study suggests that exchange rate flexibility would not be enough to restrain the spillover effects of the U.S. interest rate.

• KDI Journal of Economic Policy
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• v.44 no.4
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• pp.25-42
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• 2022

I analyze how the food delivery market's indirect network effect and spillover effect influence the spread of food delivery platforms in different counties. This study finds that there is a positive local indirect network effect and a positive spillover effect in the adoption of the platform by examining the food delivery platform market in South Korea as of 2020. As food delivery platforms secure consumers who use them, more restaurants on the other side of a two-sided market adopt such platforms (indirect network effect). The spillover effect would allow other restaurants in a region to become more likely to adopt food delivery platforms if there are a greater number of restaurants in the region that use such platforms. This study contributes to the comprehension of technology diffusion and the marketing strategies of platform providers by providing empirical evidence of both effects.

• Journal of Korea Trade
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• v.27 no.5
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• pp.167-198
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• 2023

Purpose - This paper aims to compare and analyze the co-movements and information spillover effects between the international commodity futures markets and the South Korean stock markets during the COVID-19 and the 2008 financial crises. Design/methodology - The DCC-GARCH model is used in the co-movements analysis. In contrast, the BEKK-GARCH model is used to evaluate information spillover effects. The statistical data used is from January 1, 2005, to December 31, 2022. It comprises the Korea Composite Stock Price Index data and daily international commodity futures prices of natural gas, West Texas Intermediate crude oil, gold, silver, copper, nickel, soybean, and wheat. Findings - The results of the co-movement analysis were as follows: First, it was shown that the co-movements between the international commodity futures markets and the South Korean stock markets were temporarily strengthened when the COVID-19 and 2008 financial crises occurred. Second, the South Korean stock markets were shown to have high correlations with the copper, nickel, and crude oil futures markets. The results of the information spillover effects analysis are as follows: First, before the 2008 financial crisis, four commodity futures markets (natural gas, gold, copper, and wheat) were shown to be in two-way leading relationships with the South Korean stock markets. In contrast, seven commodity futures markets, except for the natural gas futures market, were shown to be in two-way leading relationships with the South Korean stock markets after the financial crisis. Second, before the COVID-19 crisis, most international commodity futures markets, excluding natural gas and crude oil future markets, were shown to have led the South Korean stock markets in one direction. Third, it was revealed that after the COVID-19 crisis, the connections between the South Korean stock markets and the international commodity futures markets, except for natural gas, crude oil, and gold, were completely severed. Originality/value - Useful information for portfolio strategy establishment can be provided to investors through the results of this study. In addition, it is judged that financial policy authorities can utilize the results as data for efficient regulation of the financial market and policy establishment.

• Management & Information Systems Review
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• v.32 no.3
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• pp.1-23
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• 2013

In this study, we try to investigate the spillover effects of volatility in international tourists arrivals between Korea and US, Japan, China by using the multivariate BEKK model from January 2005 to January 2013. In the results of this study, after the global financial crisis, we found a cointegration relationship and tourist arrivals of Japan were adjusted to recovery in the short term. Also tourists arrivals from China and Japan showed the long-term elasticity. In the conditional mean equation of a BEKK model, there were the spillover effects. And in the conditional variance equation, ARCH(${\epsilon}^2_t$) coefficients showed a strong influence on the arrivals of their own and the spillover effects and the asymmetric effects on the volatility of China and Japan arrivals. In GARCH(${\sigma}^2_t$) coefficients showed the asymmetric effects and the spillover effects of the conditional volatility among source arrivals. Therefore, we examined the asymmetric reaction of one-way or two-way tourist arrivals between source countries and Korea and the spillover effects related to tourists arrivals of source countries to Korea. We has confirmed a causal relationship between some of the tourists arrivals from source countries to korea.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.18 no.2
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• pp.514-523
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• 2017

This study examined the effects of work-family spillover on the organizational attachment of female managers. The 4th and 5th data sets of Korean Women Manager Panel Survey established by the Korean Women's Development Institute were merged and the 5th data set for female managers was analyzed. The findings reveal that work-family support relationship is an important factor for strengthening the organizational attachment on the part of female managers. For working women, organizational support and family support is the most significant driving force for retaining their career. Second, negative spillover from family to work rather than that from work to family had a stronger impact on the organizational attachment of female managers. This finding suggests that women are not free from their status in the family, and that conflict relationships originating from the family ha a stronger impact on women's organizational attachment than that generated from work. Third, the third stage model incorporates the interaction terms of work-family spillover and organizational culture. The results showed that the interaction effect alone remains. In particular, family-work positive spillover exerts positive (+) effects on the organizational attachment only if a rational organizational culture is in place. Work-family negative spillover, however, shows negative (-) effects under rational organizational culture. Family-work negative spillover combined with rational organizational culture reinforces the organizational attachment, but has negative (-) effects under traditional organizational culture. The implications might be that women may experience negative family to work spillover, which may weaken their organizational attachment and that a rational organizational culture can reverse the spillover effect and increase the organizational attachment of female managers. No interaction effect of organizational culture appears for work to family negative spillover. A differential effect by the direction of spillover requires further study. In addition, more study will be needed to develop a more integrative model with the relevant variables not included in this study and sub-group analyses will be needed to ascertain the differences within female managers.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.8
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• pp.109-121
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• 2022

The study empirically examines the horizontal spillover effects of foreign direct investment (FDI) on the productivity of Indian pharmaceutical firms. Robust least squares and the Generalized Method of Moments estimators are applied for the firm-level panel data of Indian pharmaceutical companies whose shares were traded on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). The information was collected from the Centre for Monitoring Indian Economy (CMIE) Prowess database from 2015 to 2019. Based on the regularity in data availability, the sample firms are limited to 112 companies, 100 of which are domestic firms and 12 international firms. Firms with more than 10 percent foreign equity are classified as FDI firms, while those with less than that are classified as domestic firms. Estimation results show that foreign ownership does not contribute to the productivity of domestic firms. Due to increased competition, the Indian pharmaceutical companies with foreign equity participation are not more productive than local ones. Moreover, the findings reveal a negative and insignificant horizontal spillover effect from FDI on the productivity of domestic enterprises. The absence of horizontal spillovers may be attributable to foreign enterprises' ability to prevent technological outflow to competitors in the same industry.

• Journal of the Korean Institute of Gas
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• v.4 no.4 s.12
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• pp.34-41
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• 2000

The purpose of this paper is to assess the R&D investment of Korea Gas Corporation (Kogas) by combining several measures including R&D needs, technology spillover effects, and technology stock at the corporate level. This study has revealed that Kogas has concentrated its R&D resources on the operation and maintenance of gas supply facilities, and technology groups, which have higher fulfillment of R&D needs and technology spillover effects, have been on the relatively greater level of technology stocks.

• Journal of Family Resource Management and Policy Review
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• v.17 no.1
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• pp.81-102
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• 2013

The purpose of this study was to investigate the work-family reconciliation level of married women in double-income households. Specifically, the study aimed to test the positive spillover effects, asymmetry, and differential functions of work-family reconciliation. The study thus analyzed 1,114 married women in double-income households in the third-year data of the Korean Longitudinal Survey of Women and Families (KLoWF) done by Korean Women's Development Institute (KWDI), with the exception of those who were separated, divorced, or widowed from their husbands. The data were put to descriptive statistics, frequency analysis, and exploratory factor analysis using SPSS 20.0 for Windows. AMOS 20.0 was used to test the hypothesis on positive spillover effects, asymmetry, and differential functions. The analysis results confirm that work-family conflict, family-work conflict, work-family facilitation, and family-work facilitation are different concepts, thus supporting the hypothesis on positive spillover effects. Secondly, the negative effects of family on work were greater than those of work on family, whereas the positive effects of family on work were greater than those of work on family, which finding partially supported the hypothesis on asymmetry among the components of work-family reconciliation. Finally, the married women in double-income households with preschool children experienced more work-family conflict and family-work conflict than those with no preschool children, which result supported the hypothesis on differential functions between the two groups of women. The findings were combined to provide implications for the utilization of family resources, policies for work-family reconciliation, and plans for institutional supports to promote the work-family reconciliation of married women in double-income households.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.1
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• pp.655-663
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• 2021

This paper aims to develop a conceptual framework for determinants of spillover effects of FDI on technology innovation of Vietnamese enterprises. The research proposes a logistic regression model for assessing how enterprises' ability to implement technological innovation is affected by the presence of FDI enterprises as well as other factors that show the change through the indirect influence of FDI such as the size of the enterprise, the type of enterprise, and the skill level of the labor force or its research and development activities. Five forms of technology innovation are considered: improving production process; product quality improvement; product expansion; expanding business activities into a new field of production; and changing business activities into a new field of production. General Statistics Office of Vietnam provided survey data to collect information from 3,166 enterprises in the manufacturing and processing industry in Hanoi, which were valid for analysis. The results show that all variables of enterprise type, size, R&D, and industry have a positive impact on the selection of one of the innovation forms. Several recommendations are further suggested to take advantage of the positive effects and minimizing the negative effects of FDI for technological innovation of Vietnamese enterprises.