• East Asian Economic Review
• /
• v.28 no.3
• /
• pp.315-357
• /
• 2024

The rapid development of China's digital economy has enabled China to lead the world in financial technology (FinTech). In this context, it is imperative to study the impact of FinTech at the macro level on the sources of R&D financing for micro-enterprises. Using the data of A-share listed companies on the main boards of China's Shanghai and Shenzhen cities and the municipal-level FinTech development index from 2011 to 2020, this paper conducts an empirical test by applying the system generalized method of moments estimation (system GMM). Fintech facilitates firms' external financing of R&D. There is significant heterogeneity across different types of firms, with fintech facilitating R&D financing more strongly for young and non-state firms. This study not only complements the literature on the impact of fintech on R&D financing but also has essential practical guidance significance, which can provide valuable guidance and assistance to different types of enterprises in their R&D financing decision-making process.

• Journal of KIBIM
• /
• v.6 no.2
• /
• pp.19-28
• /
• 2016

Social costs analysis seeks to reveal the environmental effects of transportation policy. It delivers a sense of the effects of the public's daily travel and the costs that are or would be incurred from individual trips. Moreover, the accumulated total number of trips will uncover the effects of travel on society. This article shows the quantitative analysis of the economic outcomes of travel using social costs estimation methods. In order to support urban planning tasks, this research implemented analysis tool for social costs estimation by travel behavior. For a case study, a jave based application which can convert people's trip data into social costs is developed. the application used for simulating student-housing effects by estimating social costs changes. The analysis included the attributes, building scale and locational changes of the student housing as well as transforms of the students' trips.

• Journal of the Korean Society of Surveying, Geodesy, Photogrammetry and Cartography
• /
• v.36 no.5
• /
• pp.335-341
• /
• 2018

The KDE (Kernel Density Estimation) technique in GIS (Geographic Information System) has been widely used as a method for determining whether a phenomenon occurring in space forms clusters. Most human-generated events such as traffic accidents and retail stores are distributed according to a road network. Even if events on forward and rear roads have short Euclidean distances, network distances may increase and the correlation between them may be low. Therefore, the NKDE (Network-based KDE) technique has been proposed and applied to the urban space where a road network has been developed. KDE is being studied in the field of business GIS, but there is a limit to the microscopic analysis of economic activity along a road. In this study, the NKDE technique is applied to the analysis of urban phenomena such as the density of shops rather than traffic accidents that occur on roads. The results of the NKDE technique are also compared to pedestrian networks and road centerline networks. The results show that applying NKDE to microscopic trade area analysis can yield relatively accurate results. In addition, it was found that pedestrian network data that can consider the movement of actual pedestrians are necessary for accurate trade area analysis using NKDE.

• The Journal of Industrial Distribution & Business
• /
• v.8 no.2
• /
• pp.5-10
• /
• 2017

Purpose - The purpose of this paper was to analyze the Chinese government's announcement of the RMB's appreciation on July 1, 2010, and its aim was to ascertain whether the appreciation has affected Chinese export prices by empirically measuring the degree of the exchange rate pass-tough on those prices. Research design, data, and methodology - Using 73 HS trade categories with cross-industry and time-series data, the panel estimation of a fixed-effects model has been applied to measure the degree and stability of any exchange rate pass-through effects. The estimation results show that the export prices of most trade categories were affected by the exchange rate changes. The pass-through effect was generally small, at about -0.485, and statistically significant in most export prices. Results - The empirical results indicate that China would lose its advantage and competitiveness in export if the RMB were appreciated continuously and rapidly because its export goods would no longer operate under strong monopolistic competition. Conclusions - The implications for China's exchange rate policy suggest that it would be better for the RMB to appreciate slowly and gradually rather than radically. It is clear that it would be allow the capital free flow in Chinese overall economic interest to reduce the continuous appreciation pressure on the currency and pave the way for improvements in export distribution competitiveness.

• Journal of Labour Economics
• /
• v.43 no.2
• /
• pp.109-133
• /
• 2020

This paper estimates a matching function in Korea by using the method of Borowczyk-Martins et al. (2013) in order to mitigate endogeneity problems. The endogeneity was controlled through the GMM estimation by approximating the unobserved matching efficiency with the ARMA(p,q) process. The monthly data from the Economically Active Population Survey and Labor Force Survey at Establishments from June 2009 to December 2019 were used for the estimation. The matching elasticity that indicates the elasticity of new hires with respect to vacancies was estimated to be 0.859. When excluding 2019 samples, which had a large number of direct jobs provided by the government, the matching elasticity was lowered to 0.755, but still higher than that of other countries.

• Journal of Distribution Science
• /
• v.12 no.11
• /
• pp.25-34
• /
• 2014

Purpose - Considering that the governments' official statistics on the optimum scale of the domestic service industry will be crucial in future, this study's results will be used as an important benchmark to develop and verify the parameters in the government's official statistics. Research design, data, and methodology - To identify the appropriate scale of Korea's service industry and its adequacy, I have determined them through estimation using a regression method involving panel data analysis on the panel data of 30 OECD countries. Results - The regression coefficient provided indications of being non-linear. This means that a U-shaped curve relationship exists-that is, the level of the economic growth leverage decreases along with the service industry's growth up to the level of 70.9% in terms of the Korean service industry's adequacy; it increases along with the service industry's growth at a level higher than 70.9%. Conclusions - While the current proportion of the size of the service industry among all industries in Korea stands at 50.7%, its proper proportion estimated by a regression analysis was 70.9%.

• Proceedings of the KIEE Conference
• /
• 2005.11b
• /
• pp.347-349
• /
• 2005

This paper presents an efficient algorithm to estimate the maximum load level for heavily loaded power systems with the load-generation variation vector obtained by ELD (Economic Load Dispatch) and/or short term load forecasting while utilizing the elliptic pattern of the P-e curve. It is well known the power flow equation in the rectangular coordinate is fully quadratic. However, the coupling between e and f makes it difficult to take advantage of this quadratic characteristic. In this paper, a simple technique is proposed to reflect the e-f coupling effects on the estimation of maximum loadability with theoretical analysis. An efficient estimation algorithm has been developed with the use of the elliptic properties of the P-e curve. The proposed algorithm is tested on IEEE 14 bus system, New England 39 bus system and IEEE 118 bus system, which shows that the maximum load level can be efficiently estimated with remarkable improvement in accuracy.

• Journal of the Korean Solar Energy Society
• /
• v.23 no.1
• /
• pp.57-67
• /
• 2003

This study aims to presents Evaluation Method of Green Remodeling that analyze the value of environment through expense, using the method of life cycle cost and life cycle assessment simultaneously. The results of this study are summarized as follows. Evaluation Model developed in this study can convert economical value of environment into cost by integrating. In addition, the model can apply as a useful tool to estimation of economical design alternative as well as quantification of environmental loads and costs. Evaluation Model presented In this study observe energy consumption and the environmental load emission with qualification, it can forecast effect of environmental cost that cost estimation is expected to be added to energy cost rate by being possible. Synthetically, when Estimation Model and computer program that developed in this study is applies to the construction industry; reasonable management of environmental load is convenient at each step of Green Remodeling. In addition, at preliminary design phase, practical use may be possible by reasonable yardstick about various alternatives and improvement of design alternatives likewise by grasping environmental effect.

• Proceedings of the Korean Society of Propulsion Engineers Conference
• /
• 2008.05a
• /
• pp.257-262
• /
• 2008

This study presents a detailed analysis of aircraft engine maintenance cost based on the relationships between engine performance and geometric parameters. Some trend equations based on the engine performance and maintenance database were developed for the estimation of shop-visit interval, work-scope, man-hours, material cost and Life Limited Part cost. The results show that this approach can give a more reasonable and detailed estimation of engine maintenance cost than older empirical methods.

• Proceedings of the Korean Geotechical Society Conference
• /
• 2006.03a
• /
• pp.980-987
• /
• 2006

Recently, twin-tunnel is often designed considering the aspects of disaster prevention and economic reasons. However, the design cases and the studies are relatively insufficient. By the twin-tunnel excavation, deviate stresses of pillar between tunnels are increased and the increased stresses induce the instability of the twin-tunnel. In this study, numerical analyses about the twin-tunnel behaviour are conducted while varying ground strength, width of pillar and depth of earth cover and a series of regression analyses are carried out by using the results of numerical analyses for the twin-tunnel. Based on the numerical analyses, an estimation method of derived stresses is suggested though the regression analyses. Also, based on the results of regression analyses, an quantitative estimation method considering the reinforcement effects is also suggested. Then various parametric studies are conducted to be considered the reinforcement type and various design parameters. Finally, the efficiency of the suggested method is verified through the results of parametric studies.