• Journal of Korea Trade
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• v.26 no.7
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• pp.127-144
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• 2022

Purpose - This study aimed to analyze the dynamic effects of progress in globalization on firm performance by employing individual companies' financial statement datasets. Design/methodology - The analysis leveraged the variables of operating revenue (OPRE) and pre-tax profit and loss (PLBT) as measurement variables for firm performance over 2011-2019. As a proxy variable for globalization, the trade index, a subordinate indicator of the KOF Globalization Index, was used. Through panel regression analysis, the relationship among those variables was ascertained, and the local projection (LP) method was subsequently utilized to identify dynamic effects. A subsample analysis was further performed by classifying companies based on their sizes and industries to determine the differential effects of globalization on each group. Findings - The panel regression analysis derived positive effects of an increasing degree of globalization on OPRE of Korea maritime and fishery firms. However, the impulse response functions, obtained from the LP, showed that in the short run, globalization affects PLBT negatively but in the long run, it gradually converted into a positive effect. In addition, according to the subsample analysis based on company size, the effects of globalization on OPRE became greater as each company became larger. Moreover, the industry-based analysis showed heterogeneous effects, depending on the industries in which the maritime and fishery companies operated. Originality/value - The analysis of the dynamic effects of globalization on firm performance, which revealed that the effects vary depending on the time points, is the important contribution of this study. The results also suggest that the effects of globalization vary depending on the company size and industry.

• Korea Trade Review
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• v.43 no.2
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• pp.23-45
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• 2018

Logistic costs refer to trade costs, but it could influence FDI as well as global trade. Multinational corporations choose the geographic organization to produce their products. Therefore, it involves many countries to produce one product. International trade between countries more frequently involves the trade of raw materials, components, and unfinished goods. This implies that countries with better logistic performance are attractive for investment because of low transaction costs. Using the logistic performance index provided from the World Bank, this paper investigates the impacts of logistic performance on FDI inflow to developing countries. Results show that infrastructure and timeliness have a positive effects on FDI inflow to low income countries. In the case of middle income countries, timeliness has a negative effect on FDI inflow. This discrepancy between the low- and middle- income countries comes from the different motivation. FDI for low income countries primarily attempts to minimize labor costs. However, FDI for middle-income countries seems to be motivated to reduce labor costs and expand sales markets. FDI inflow in low-income countries serves as part of the offshoring or global outsourcing of multinational corporation.

• The Southeast Asian review
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• v.21 no.3
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• pp.139-203
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• 2011

This paper attempts to review of recent development of ASEAN financial integration and to evaluate it and predict its future aspect. For this purpose, we first examine the historic aspect of ASEAN financial integration such as ASEAN financial service open agreement or ASEAN capital market forum report and currently agreed integration plan. In addition, we study the development stages of ASEAM member countries in terms of its economic size or income level. Finally, we look at the financial market and institutional aspect of ASEAN member countries and the recent development of global financial market. From these analyses, we find several important facts. First, it is true that ASEAN, in general, will enjoy the effect of expanding regional investment and improving the quality of financial service through the financial integration. We think that its long term benefit is too large for ASEAN member states to avoid. Second, as a result, it is certain that ASEAN will corporate further to make its financial market to be integrated in the future. Third, however, despite these benefits and continuing efforts, we expect that it will be very difficult for ASEAN to reach a stage of financial integration as suggested in the Blueprint of ASEAN Economic Community by the year of 2015. The large difference among member states in term of economic and financial development will not allow for them to reach a single goal within a short time. Instead, we expect the following scenario for the integration process will hold. First, ASEAN will reach an agreement on the institutional framework by 2015 and afterwards, slowly the markets will begin to integrate. Second, at the earlier stage, not all but some countries will start the integration process. We expect that the financial market of ASEAN 5 will first be integrated and other 5 will join to it later.

• Economic Analysis
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• v.25 no.3
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• pp.100-137
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• 2019

In this study, I analyzed the effects of government spending on macro variables and on each industry by using a factor augmented vector autoregressive model (FAVAR) and 167 macro-variables in Korea since 2000. The results reveal that the effects of two types of government spending - government consumption and government investment - greatly differ, therefore it is better to consider the two types of spending separately for a more precise analysis. The stimulus effects of government consumption are clear, but those of government investment are not. In addition, the crowding-out effects of government spending take place through the current account deficit channel rather than the traditional crowding-out channel, reducing private consumption and investment. Both types of government spending show a positive effect on the construction industry. Also, an increase in government consumption stimulates output in various manufacturing and service sectors.

• Asia pacific journal of information systems
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• v.33 no.4
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• pp.863-898
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• 2023

Previous studies have shown that insiders pose risks to the security of organisations' secret information. Information security policy (ISP) intentional violation can jeopardise organisations. For years, ISP violations persist despite organisations' best attempts to tackle the problem through security, education, training and awareness (SETA) programs and technology solutions. Stopping hacking attempts e.g., phishing relies on personnel's behaviour. Therefore, it is crucial to consider employee behaviour when designing strategies to protect sensitive data. In this case, organisations should also focus on improving employee behaviour on security and creating positive security perceptions. This paper investigates the role of psychological capital (PsyCap), punishment and organisational security resources in influencing employee behaviour and ultimately reducing ISP violations. The model of the proposed study has been modified to investigate the connection between self-efficacy, resilience, optimism, hope, perceived sanction severity, perceived sanction certainty, security response effectiveness, security competence and ISP violation. The sample of the study includes 364 bank employees in Jordan who participated in a survey using a self-administered questionnaire. The findings show that the proposed approach acquired an acceptable fit with the data and 17 of 25 hypotheses were confirmed to be correct. Furthermore, the variables self-efficacy, resilience, security response efficacy, and protection motivation directly influence ISP violations, while perceived sanction severity and optimism indirectly influence ISP violations through protection motivation. Additionally, hope, perceived sanction certainty, and security skills have no effect on ISP infractions that are statistically significant. Finally, self-efficacy, resiliency, optimism, hope, perceived severity of sanctions, perceived certainty of sanctions, perceived effectiveness of security responses, and security competence have a substantial influence on protection motivation.

• Asia-Pacific Journal of Business
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• v.15 no.1
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• pp.209-223
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• 2024

Purpose - This article analyzes the impact of macroeconomic variables of the United States, China, and Korea on KOSPI and VKOSPI, in that United States and China have a great influence on Korea, having an export-driven economy. Design/methodology/approach - The influence of US, China, and Korea interest rates, industrial production index, consumer price index, US employment index, Chinese real estate index, and Korea's foreign exchange reserves on KOSPI and VKOSPI is analyzed on monthly basis from Jan 2012 to Aug 2023, using multifactor model. Findings - The KOSPI showed a positive relationship with the U.S. industrial production index and Korea's foreign exchange reserves, and a negative relationship with the U.S. employment index and Chinese real estate index. The VKOSPI showed a positive relationship with the Chinese consumer price index, and a negative relationship with the U.S. interest rates, and Korean foreign exchange reserves. Next, dividing the analysis into two periods with the Covid crisis and the analysis by country, the impact of US macroeconomic variables on KOSPI was greater than Chinese ones and the impact of Chinese macroeconomic variables on VKOSPI was greater than US ones. The result of the forward predictive failure test confirmed that it was appropriate to divide the period into two periods with economic event, the Covid Crisis. After the Covid crisis, the impact of macroeconomic variables on KOSPI and VKOSPI increased. This reflects the financial market co-movements due to governments' policy coordination and central bank liquidity supply to overcome the crisis in the pandemic situation. Research implications or Originality - This study is meaningful in that it analyzed the effects of macroeconomic variables on KOSPI and VKOSPI simultaneously. In addition, the leverage effect can also be confirmed through the relationship between macroeconomic variables and KOSPI and VKOSPI. This article examined the fundamental changes in the Korean and global financial markets following the shock of Corona by applying this research model before and after Covid crisis.

• Asia-Pacific Journal of Business
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• v.14 no.4
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• pp.431-444
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• 2023

Purpose - This study applies the traditional Structure-Conduct-Performance (SCP) model from industrial organization theory to investigate the relationship between market structure and performance in China's banking industry. Design/methodology/approach - For analysis, financial data from the People's Bank of China's "China Financial Stability Report" and financial reports of 6 state-owned banks and 11 joint-stock banks for the period 2010 to 2021 were collected to create a balanced panel dataset. The study employs panel fixed-effects regression analysis to assess the impact of changes in market structure and ownership structure on performance variables including return on asset, profitability, costs, and non-performing loan ratios. Findings - Empirical findings highlight significant differences in the effects of market structure between state-owned and joint-stock banks. Notably, increased market competition positively correlates with higher profits for state-owned banks and with lower costs for joint-stock banks. Research implications or Originality - State-owned banks demonstrate larger scale and stability, yet they struggle to respond effectively to market shifts. Conversely, joint-stock banks face challenges in raising profitability against competitive pressures. Additionally, the study emphasizes the importance for Chinese banks to strengthen risk management due to the increase of non-performing loans with competition. The results provide insights into reform policies for Chinese banks regarding the involvement of private sector in the context of market liberalization process in China.

• Journal of Microbiology and Biotechnology
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• v.34 no.8
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• pp.1599-1608
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• 2024

Yersinia enterocolitica is a globally distributed food-borne gastrointestinal pathogen. The O-antigen variation-determined serotype is an important characteristic of Y. enterocolitica, allowing intraspecies classification for diagnosis and epidemiology purposes. Among the 11 serotypes associated with human yersiniosis, O:3, O:5,27, O:8, and O:9 are the most prevalent, and their O-antigen gene clusters have been well defined. In addition to the O-antigen, several virulence factors are involved in infection and pathogenesis of Y. enterocolitica strains, and these are closely related to their biotypes, reflecting pathogenic properties. In this study, we identified the O-AGC of a Y. enterocolitica strain WL-21 of serotype O:10, and confirmed its functionality in O-antigen synthesis. Furthermore, we analyzed in silico the putative O-AGCs of uncommon serotypes, and found that the O-AGCs of Y. enterocolitica were divided into two genetic patterns: (1) O-AGC within the hemH-gsk locus, possibly synthesizing the O-antigen via the Wzx/Wzy dependent pathway, and (2) O-AGC within the dcuC-galU-galF locus, very likely assembling the O-antigen via the ABC transporter dependent pathway. By screening the virulence genes against genomes from GenBank, we discovered that strains representing different serotypes were grouped according to different virulence gene profiles, indicating strong links between serotypes and virulence markers and implying an interaction between them and the synergistic effect in pathogenicity. Our study provides a framework for further research on the origin and evolution of O-AGCs from Y. enterocolitica, as well as on differences in virulent mechanisms among distinct serotypes.

• Journal of the Korean Society of Radiology
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• v.18 no.2
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• pp.73-81
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• 2024

This study compared the cortical thickness of patients with mood disorders and a control group to assess structural abnormalities. A retrospective study was conducted from September 2020 to August 2022 at the Department of Psychiatry, P Hospital in Yangsan, Gyeongsangnam-do. The study included 44 individuals diagnosed with mood disorders and 59 healthy individuals without any pathological lesions. The 3D-T1 MPRAGE images obtained from magnetic resonance imaging examinations were utilized, and FreeSurfer software was employed to measure cortical thickness. Statistical analysis involved independent samples t-tests to measure the differences in means between the two groups, and Cohen's d test was used to compare the effect sizes of the differences. Furthermore, the correlation between the measured average cortical thickness and Positive and Negative Syndrome Scale scores was analyzed. The research results revealed that patients with mood disorders exhibited decreased cortical thickness compared to the normal control group in both superior frontal regions, both rostral middle frontal regions, both caudal middle frontal regions, both pars opercularis, pars orbitals, pars triangularis regions, both superior temporal regions, both inferior temporal regions, both lateral orbitofrontal regions, both medial orbitofrontal regions, both fusiform regions, both posterior cingulate regions, both isthmus cingulate regions, both superior parietal regions, both inferior parietal regions, both supramarginal regions, left postcentral region, right bank of the superior temporal sulcus region, right middle temporal region, right rostral anterior cingulate region, and right insula region. Among them, regions that showed differences with effect sizes of 0.8 or higher were left fusiform (d=0.82), pars opercularis (d=0.94), superior frontal (d=0.88), right lateral orbitofrontal (d=0.85), and pars orbitalis (d=0.89). Additionally, there was a weak negative correlation between PANSS scores and average cortical thickness in both the left hemisphere (r=-0.234) and right hemisphere (r=-0.230). These findings are expected to be helpful in identifying areas of cortical thickness reduction in patients with mood disorders compared to healthy individuals and understanding the relationship between symptom severity and cortical thickness changes.

• Journal of Biomedical Engineering Research
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• v.19 no.1
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• pp.81-90
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• 1998

Electromagnetic waves may induce various effects on nervous tissues either by thermal or non-thermal mechanisms. This paper intoduces a method to evalute the non-thermal effect to central nervous system by measuring the EEGs of the rabbits treated by nimodipine before exposed to weak microwave field. 20 rabbits were divided into 2 groups and their EEGs were measured after their head section were exposed to 2,450 MHz microwave with the power density of 10 dBm and 20 dBm respectively for 10 minutes and compared with those of the 3rd group of 10 rabbits which were not exposed. The 4th group of 10 rabbits were intravenously given with nimodipine before exposed to 20 dBm field to determine whether this drug would reverse the EEGs changes induced by weak microwave irradiation. As field poser exceeded 20 dBm although no significant physiological changes were observed, total induced EEGs power was remarkably decreased suggesting the presence of CNS activation. Using Fourier analysis on the EEGs signal it was found that remarkable decrease in delta band and increase in the alpha and beta bands in a significant manner(P<0.05) compared to control group. The changes were, however, not reversed by nimodipine-treatment. The effects may be pure thermal in nature because no significant change has been observed in nimodipine treated rabbits.