• Title/Summary/Keyword: foreign case study

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Current status of cherry trees (Prunus subg. Cerasus) planted in Korea: A case study of Bundang Central Park and adjacent area (국내 벚나무류(Prunus subg. Cerasus) 식재 현황: 분당중앙공원 일대 사례연구)

  • HAN, Byungwoo;JUNG, Jongduk;NA, Hye Ryun;KANG, Kyoungsuk;CHANG, Hany;KIM, Seryoung;KIM, Youme;KWON, Heejeong;HYUN, Jin-Oh
    • Korean Journal of Plant Taxonomy
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    • v.52 no.1
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    • pp.54-63
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    • 2022
  • Prunus subg. Cerasus is the most planted street and landscaping tree in South Korea, but it is difficult to identify species according to their macro-morphologies, leading to problems when attempting properly to manage species quantities. The purpose of this study is to understand the current status of plant types and species compositions in Bundang Central Park in Bundang-gu of Seongnam City and to discuss the necessity of the management of landscaping tree planting. In April of 2021, during the cherry blossom season, a total of 5,866 planted cherry trees were investigated within an area of 6 km2 of Bundang-gu in Seongnam City. As a result, 5,744 trees were sorted into eleven taxa, but the remaining 122 trees were not determined due to their complex morphologies. Prunus ×yedoensis Matsum. accounted for the highest proportion (52.1%), followed by P. serrulata Lindl. var. pubescens Nakai and P. jamasakura Siebold ex Koidz. P. ×nudiflora (Koehne) Koidz., a plant native to Jejudo Island, was not found in this survey. In order to help identify cherry trees based on micro-morphologies, an identification key was presented for the eleven taxa planted as major landscaping trees. It is known that cherry trees frequently form interspecific hybrids in nature. In order to prevent a loss of the genetic originality of native species due to hybridization and gene introgression from foreign cherry trees, it is necessary to manage planting species near the habitats of native taxa and track their origins.

The Presence of Related Personnel Effects on the IPO of Special Listed Firms on KOSDAQ Market: Based on the Signal Effect of Third-party Social Recognition (관계인사 영입이 코스닥 기술특례기업 IPO성과에 미치는 영향: 제3자 사회적 인정의 신호 효과를 바탕으로)

  • Kiyong, Kim;Young-Hee, Ko
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.17 no.6
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    • pp.13-24
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    • 2022
  • The purpose of this study is to examine whether the existence of related personnel in KOSDAQ technology special listed firms has a signal effect on the market and affects performance when listed. The KOSDAQ technology special listing system is a system introduced to enable future growth by securing financing through corporate public offering based on the technology and marketability of technology-based startups and venture companies. As a result of analyzing 135 special technology companies listed from 2005 to 21 (excluding SPAC mergers and foreign companies) whether or not related personnel affect corporate value and listing period when they are listed, it was analyzed that the presence of related personnel did not significantly affect corporate value or listing period. The same was found in the results of the verification by reducing the scope to related personnel such as public officials and related agencies. However, under certain conditions, significant results were derived from the presence of related personnel on the listing of companies listed in special technology cases. It was found that the presence of related personnel and VC investment had a significant effect on corporate value, and in the case of bio-industry, there was a slight significant effect on the duration of listing. This study is significant in that it systematically analyzed the signal effect of the existence of related personnel for the first time for all 135 companies. In addition, as a result of the analysis, the results suggest that internalized efforts to secure technology and marketability are more important, such as parallel to VC investment, rather than simply recruiting related personnel.

The Factors Affecting on the Franchisor's Performance and Its Intention of Recontracting with Franchisees : Focused on the Chinese Franchise Market (프랜차이즈 본부의 성과 및 재계약의도에 영향을 미치는 요인들에 관한 연구 : 중국프랜차이즈 시장을 중심으로)

  • Shuai, Su;Seo, Sang-Yun;Lee, Hoon-Yong
    • Journal of Distribution Research
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    • v.17 no.3
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    • pp.1-24
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    • 2012
  • Franchises have recently emerged as the most rapidly expanding industry positioned to create a large impact in the domestic economic. The Chinese franchise industry developed rapidly in the period prior and subsequent to WTO accession with more than 50% of new franchises brands emerging since 2000. M&A transactions in the Chinese franchise industry have progressed actively. In the period from 2005-2007, due to the wholesale and retail market opening in accordance with the guidelines laid forth within the MOU by the WTO the Chinese franchise market is now the largest market in the world all despite a short history of only 20 years. The amount of franchise market research on China is disproportional to its current size and development potential. Beginning in the 1990s, market research conducted by the International Franchise Association focused on emerging markets in Eastern Europe and China. While the research dealt with the Chinese investment environment, it insufficiently explained the market region and cultural environment. The purpose of this research is (i) to investigate the determinants of the performance of franchise systems in China and (ii) new contract renewals based on performance factors. This study will complement existing research in terms of the franchisee perspective. This study may also prove of the benefit to the franchise companies entering the Chinese franchise market enabling them to develop an effective strategy. This study shows that support, incentives, and system standardization by franchisor yielded a positive effect on management performance. This is consistent with previous studies by Shin (2000) and Kim (2008) targeting Korean franchises. Therefore, in the Chinese market, the franchisor must focus on support, incentives, and system standardization rather than concentrate only on the recruitment of franchisees in order to improve revenue. Hypotheses regarding franchisor control have been dismissed in existing research, in the opinion of this study, due to their complexity and inability to control the merchant as a one-kind-assessment-standard. Our findings show that the franchisees' financial condition, management ability and entrepreneurial spirit, among franchisee's characteristics, have a positive effect on franchisor's business performance and satisfaction for the franchisee. This is consistent with previous studies on headquarters' management performance of Lussier (1996), Heo and Jang (2008), and franchisees' financial condition, management ability and entrepreneurial spirit effect on franchisor's satisfaction of Weaven and Franzer (2007), Kim (2009), Han (2009), and Yoon etc. (2008). Therefore, when permitting a franchisee, financial condition, management ability, entrepreneurship of the franchisee should be carefully considered. Among relational factors between franchisor and franchisee, trust has the positive influence on the management performance of the franchisor while conflict has a negative effect. However, trust, commitment and conflict factors have been shown not to have any impact on the satisfaction of the franchise headquarters. This result is consistent with the previous studies of Pavlou and Ba (2000), Morrison (1999), Weaven and Frazer (2007), Kim and Park (1994), Sohn (2007) which show that trust between franchisor and the franchisees have a positive effect and that conflict has a negative impact on franchisor's management performance. Other factors causing a negative effective on the franchisor's management performance are a rapid environmental changes and uncertainty in the business. This is consistent with Campbell et al (2007), Kim and Kim (2009), Han and Baek (2008). Finally, the high management performance and satisfaction of the franchise headquarters has a positive effect on the intention of franchise renewal. In the case of large markets such as China, the franchisor's strategy and the role is very important. In this study, we also investigated the characteristics of franchisor and franchisee, relationship, and environmental uncertainty affecting on the management performance and satisfaction of franchisor. Recently, Korean franchises are attempting to enter foreign markets through the rise in popularity of Korean culture and entertainment commonly referred to as the Korean wave. This study provides recommendations for Korean franchises intending on entering the Chinese market. First, in order to achieve stable profits, the franchise corporation needs to support the operation of the individual franchisee through incentives and standardization of services. Second, because trust between the franchisor and franchisee has a positive effect on management performance, on-going discussion and cooperation is necessary to reduce the level of conflict.

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Moderating Effect of Lifestyle on Consumer Behavior of Loungewear with Korean Traditional Fashion Design Elements (소비자대함유한국전통시상설계원소적편복적소비행위지우생활방식적조절작용(消费者对含有韩国传统时尚设计元素的便服的消费行为之于生活方式的调节作用))

  • Ko, Eun-Ju;Lee, Jee-Hyun;Kim, Angella Ji-Young;Burns, Leslie Davis
    • Journal of Global Scholars of Marketing Science
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    • v.20 no.1
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    • pp.15-26
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    • 2010
  • Due to the globalization across various industries and cultural trade among many countries, oriental concepts have been attracting world’s attentions. In fashion industry, one's traditional culture is often developed as fashion theme for designers' creation and became strong strategies to stand out among competitors. Because of the increase of preferences for oriental images, opportunities abound to introduce traditional fashion goods and expand culture based business to global fashion markets. However, global fashion brands that include Korean traditional culture are yet to be developed. In order to develop a global fashion brand with Korean taste, it is very important for native citizen to accept their own culture in domestic apparel market prior to expansion into foreign market. Loungewear is evaluated to be appropriate for adopting Korean traditional details into clothing since this wardrobe category embraces various purposes which will easily lead to natural adaptation and wide spread use. Also, this market is seeing an increased demand for multipurpose wardrobes and fashionable underwear (Park et al. 2009). Despite rapid growth in the loungewear market, specific studies of loungewear is rare; and among research on developing modernized-traditional clothing, fashion items and brands do not always include the loungewear category. Therefore, this study investigated the Korean loungewear market and studied consumer evaluation toward loungewear with Korean traditional fashion design elements. Relationship among antecedents of purchase intention for Korean traditional fashion design elements were analyzed and compared between lifestyle groups for consumer targeting purposes. Product quality, retail service quality, perceived value, and preference on loungewear with Korean traditional design elements were chosen as antecedents of purchase intention and a structural equation model was designed to examine their relationship as well as their influence on purchase intention. Product quality and retail service quality among marketing mixes were employed as factors affecting preference and perceived value of loungewear with Korean traditional fashion design elements. Also effects of preference and perceived value on purchase intention were examined through the same model. A total of 357 self-administered questionnaires were completed by female consumers via web survey system. A questionnaire was developed to measure samples' lifestyle, product and retail service quality as purchasing criteria, perceived value, preference and purchase intention of loungewear with Korean traditional fashion design elements. Also, loungewear purchasing and usage behavior were asked as well in order to examine Korean loungewear market status. Data was analyzed through descriptive analysis, factor analysis, cluster analysis, ANOVA and structural equation model was tested via AMOS 7.0. As for the result of Korean loungewear market status investigation, loungewear was purchased by most of the consumers in our sample. Loungewear is currently recognized as clothes that are worn at home and consumers are showing comparably low involvement toward loungewear. Most of consumers in this study purchase loungewear only two to three times a year and they spend less than US$10. A total of 12 items and four factors of loungewear consumer lifestyle were found: traditional value oriented lifestyle, brand-affected lifestyle, pursuit of leisure lifestyle, and health oriented lifestyle. Drawing on lifestyle factors, loungewear consumers were classified into two groups; Well-being and Conservative. Relationships among constructs of purchasing behavior related to loungewear with Korean traditional fashion design elements were estimated. Preference and perceived value of loungewear were affected by both product quality and retail service quality. This study proved that high qualities in product and retail service develop positive preference toward loungewear. Perceived value and preference of loungewear positively influenced purchase intention. The results indicated that high preference and perceived value of loungewear with Korean traditional fashion design elements strengthen purchase intention and proved importance of developing preference and elevate perceived value in order to make sales. In a model comparison between two lifestyle groups: Well-being and Conservative lifestyle groups, results showed that product quality and retail service quality had positive influences on both preference and perceived value in case of Well-being group. However, for Conservative group, only retail service quality had a positive effect on preference and its influence to purchase intention. Since Well-being group showed more significant influence on purchase intention, loungewear brands with Korean traditional fashion design elements may want to focus on characteristics of Well-being group. However, Conservative group's relationship between preference and purchase intention of loungewear with Korean traditional fashion design elements was stronger, so that loungewear brands with Korean traditional fashion design elements should focus on creating conservative consumers' positive preference toward loungewear. The results offered information on Korean loungewear consumers' lifestyle and provided useful information for fashion brands that are planning to enter Korean loungewear market, particularly targeting female consumers similar to the sample of the present study. This study offers strategic and marketing insight for loungewear brands and also for fashion brands that are planning to create highly value-added fashion brands with Korean traditional fashion design elements. Considering different types of lifestyle groups that are associated with loungewear or traditional fashion goods, brand managers and marketers can use the results of this paper as a reference to positioning, targeting and marketing strategy buildings.

A Study on the Creation and Use of Nokgakseong and Underwater Wooden Fence (조선시대 녹각성과 수중목책의 조성 및 활용에 관한 연구)

  • SHIM Sunhui;KIM Choongsik
    • Korean Journal of Heritage: History & Science
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    • v.56 no.4
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    • pp.230-246
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    • 2023
  • The wooden fence(木柵), which began to appear in the Bronze Age and is presumed to be the oldest defense facility in human history, was used as a fortress for the purpose of further strengthening military defense functions until after the Japanese Invasion of Korea in 1592 in the Joseon Dynasty(壬辰倭亂). As it was established as the concept of a fortress or a fence installed outside a fence castle(城柵) or barracks fence(營柵), its importance as an essential facility for defense was further highlighted. This study is the result of exploring wooden fence that were used as official facilities during the Joseon Dynasty, focusing on literature surveys such as 『Annals of the Joseon Dynasty』 and 『New Jeungdonggukyeojiseungram』 In this study, in particular, the conclusion of this study is as follows, focusing on the use and function of Nokgakseong(鹿角城), underwater wooden fence, installation methods, and materials of wooden fences, is as follows. The conclusions of this study, which focused on the materials of the wooden fence, are as follows. First, as invasions by foreign enemies became more frequent in the late Goryeo and early Joseon Dynasty, wooden fences played a major role as a major out-of-castle defense facility((防禦施設). In addition, wooden fences were modified and installed into various types such as wooden fences(木柵城), Nokgakseong, a fence made up of large branches in the shape of a deer antler, and underwater wooden fences(水中木柵) according to the circumstances of the times, government policy, and location environment. Second, wooden fences were installed in strategic locations in defense facilities for military purposes, such as mountain fortress(山城), fortresses(營), camps(鎭), forts(堡), and castles(邑城) in strategic locations, and were used for defense in case of emergency. According to the urgency of farming, it was installed in accordance with the non-farming season, when it is easy to mobilize manpower to avoid the busy farming season. The size of the wooden fence of the Joseon Dynasty, which are confirmed through literature records, was converted into Pobaekchuk(布帛尺), and the circumference was very diverse from 4,428chuk(2,066m) to 55chuk(25m). Third, Nokgakseong is an efficient combat support facility that is more aggressive than a general wooden fence, and the records of Nokgakseong in the Annals of the Joseon Dynasty appeared during the King Sejong period the record was 20 times, the most. By region, it was found that it was mainly installed in coastal rugged areas such as Pyeongan and Hamgildo(12), which are the 6-jin areas of the 4th Army. Fourth, in the early 15th century, as the royal court established a maritime defense strategy for the coastal area of the southern coast, after the Sampo Invasion(三浦倭亂), riots by Japanese settlers in Sampo in 1510, major military posts including eupseong(邑城), camps, and forts were established. The installation of underwater barriers around various government facilities rapidly increased as a defense facility to block the warships of Japanese pirates around various government facilities. Fifth, between the 15th and 17th centuries before and after the Japanese Invasion of Korea in Sampo, underwater fences were installed in the Southern coast and Ganghwa Island. In particular, in the 15th century, underwater fences were intensively installed in coastal areas of Gyeongsangnam-do, such as Jepo. Pine trees and Oaks are the main materials used for underwater fences, but other materials such as Oldham's meliosma, Loose-flower hornbeam and The vines of arrowroots were also used as materials for wooden fences.

Analysis of Success Cases of InsurTech and Digital Insurance Platform Based on Artificial Intelligence Technologies: Focused on Ping An Insurance Group Ltd. in China (인공지능 기술 기반 인슈어테크와 디지털보험플랫폼 성공사례 분석: 중국 평안보험그룹을 중심으로)

  • Lee, JaeWon;Oh, SangJin
    • Journal of Intelligence and Information Systems
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    • v.26 no.3
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    • pp.71-90
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    • 2020
  • Recently, the global insurance industry is rapidly developing digital transformation through the use of artificial intelligence technologies such as machine learning, natural language processing, and deep learning. As a result, more and more foreign insurers have achieved the success of artificial intelligence technology-based InsurTech and platform business, and Ping An Insurance Group Ltd., China's largest private company, is leading China's global fourth industrial revolution with remarkable achievements in InsurTech and Digital Platform as a result of its constant innovation, using 'finance and technology' and 'finance and ecosystem' as keywords for companies. In response, this study analyzed the InsurTech and platform business activities of Ping An Insurance Group Ltd. through the ser-M analysis model to provide strategic implications for revitalizing AI technology-based businesses of domestic insurers. The ser-M analysis model has been studied so that the vision and leadership of the CEO, the historical environment of the enterprise, the utilization of various resources, and the unique mechanism relationships can be interpreted in an integrated manner as a frame that can be interpreted in terms of the subject, environment, resource and mechanism. As a result of the case analysis, Ping An Insurance Group Ltd. has achieved cost reduction and customer service development by digitally innovating its entire business area such as sales, underwriting, claims, and loan service by utilizing core artificial intelligence technologies such as facial, voice, and facial expression recognition. In addition, "online data in China" and "the vast offline data and insights accumulated by the company" were combined with new technologies such as artificial intelligence and big data analysis to build a digital platform that integrates financial services and digital service businesses. Ping An Insurance Group Ltd. challenged constant innovation, and as of 2019, sales reached $155 billion, ranking seventh among all companies in the Global 2000 rankings selected by Forbes Magazine. Analyzing the background of the success of Ping An Insurance Group Ltd. from the perspective of ser-M, founder Mammingz quickly captured the development of digital technology, market competition and changes in population structure in the era of the fourth industrial revolution, and established a new vision and displayed an agile leadership of digital technology-focused. Based on the strong leadership led by the founder in response to environmental changes, the company has successfully led InsurTech and Platform Business through innovation of internal resources such as investment in artificial intelligence technology, securing excellent professionals, and strengthening big data capabilities, combining external absorption capabilities, and strategic alliances among various industries. Through this success story analysis of Ping An Insurance Group Ltd., the following implications can be given to domestic insurance companies that are preparing for digital transformation. First, CEOs of domestic companies also need to recognize the paradigm shift in industry due to the change in digital technology and quickly arm themselves with digital technology-oriented leadership to spearhead the digital transformation of enterprises. Second, the Korean government should urgently overhaul related laws and systems to further promote the use of data between different industries and provide drastic support such as deregulation, tax benefits and platform provision to help the domestic insurance industry secure global competitiveness. Third, Korean companies also need to make bolder investments in the development of artificial intelligence technology so that systematic securing of internal and external data, training of technical personnel, and patent applications can be expanded, and digital platforms should be quickly established so that diverse customer experiences can be integrated through learned artificial intelligence technology. Finally, since there may be limitations to generalization through a single case of an overseas insurance company, I hope that in the future, more extensive research will be conducted on various management strategies related to artificial intelligence technology by analyzing cases of multiple industries or multiple companies or conducting empirical research.

A Study on the Legal Explanation and Cases of Remedies for Breach of Contract by the Buyer under CISG (CISG하에서 매수인의 계약위반에 대한 매도인의 구제수단에 관한 고찰 - CISG 제3편 제3장 제3절(제61조 내지 제65조)의 규정해석과 판결례를 중심으로 -)

  • Shim, Chong-Seok
    • International Commerce and Information Review
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    • v.14 no.3
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    • pp.231-251
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    • 2012
  • The remedies available to a seller that has suffered a breach of contract by the buyer are addressed in Section III of Chapter III of Part III. The first provision in the section, 61, catalogues those remedies and authorizes an aggrieved seller to resort to them. The remaining provisions of the section address particular remedies or prerequisites to remedies. The subject matter of the current section remedies for breach of contract by the buyer obviously parallels that of Section III of Chapter II of Part III remedies for breach of contract by the seller. Many individual provisions within these sections form matched pairs. Thus 61, which catalogs the seller's remedies, which catalogs the buyer's remedies. Other provisions in the current section that have analogues in the section on buyer's remedies include 62, seller's right to require buyer's performance 63, seller's right to fix an additional period for buyer to perform and 64, seller right to avoid the contract. As was the case with the provisions on buyers' remedies, the articles governing sellers' remedies operate in conjunction with a variety of provisions outside the current section. Thus the seller's right to require performance by the buyer is subject to the rule in 28 relieving a court from the obligation to order specific performance in circumstances in which it would not do so under its own law. The authorization in 61 for a seller to claim damages for a buyer's breach operates in connection with 74-76, which specify how damages are to be measured. 49, stating when an aggrieved seller can avoid the contract, is part of a network of provisions that address avoidance, including the definition of fundamental breach, the requirement of notice of avoidance, provisions governing avoidance in certain special circumstances, measures of damages available only if the contract has been avoided and the provisions of Section V of Part III, Chapter V on effects of avoidance.

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Developmental Plan of Man-Overboard Alert Devices of Small Fishing Vessels: A Study (소형어선의 선외추락 경보장치 개발 방안 연구)

  • Kim, Jae-Won;Kim, Byung-Ok;Lim, Jung-Gyun;Lee, Ju-Han;Yim, Jea-Hong;Park, Dong-Kook
    • Journal of Navigation and Port Research
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    • v.42 no.4
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    • pp.245-252
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    • 2018
  • A method of transmitting an alert signal in case of man-overboard (MOB) systems in a small fishing vessel navigating within coastal area is being operated as VHF-DSC equipment via a distress alert button and V-P ass Equipment via alert button or beacon separation. However, a small fishing vessel with a couple of crews on board is an inappropriate way to alert a man-overboard condition. However, internationally, MOB equipment using VHF-DSC, AIS, and Bluetooth technologies is used to transmit alert signals directly to the mother ship and other radio stations. In order to analyze the performance and technology of the MOB equipment operating in foreign countries, it was confirmed that the alarm signal can be received within a maximum of one nautical mile when the MOB device is on the water surface. An MOB device that meets domestic conditions needs to send an alarm signal to a station within the VHF communication range. However, in order to reduce the false alert signal, it is most appropriate to operate the VHF-DSC radio equipment installed on the ship remotely. Analysis of various technologies connecting the MOB and the VHF-DSC revealed that the Bluetooth system has advantages such as device miniaturization. When an emergency signal is transmitted from the MOB device, it can be received by a dedicated receiver and recognized through an external input terminal of the VHF-DSC equipment generating its own alarm. If the emergency situation cannot be processed at the mother ship, a distress alert is sent to all radio stations via VHF-DSC for response under emergencies faced by small fishing vessels.

Implication of Quantitative Culture of Bronchoalveolar Lavage Fluid in the Diagnosis of Ventilator Associated Pneumonia in Patients with Antimicrobial Therapy (항생제 사용 중 발생한 기계 호흡기 관련 폐렴에서 기관지 세포 세척술의 진단적 의미)

  • Chang, Yoon-Soo;Ahn, Chul-Min;Chung, Byung-Chun;Kim, Hyung-Jung;Kim, Seong-Kyu;Lee, Won-Yong;Shin, Jeung-Su
    • Tuberculosis and Respiratory Diseases
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    • v.49 no.1
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    • pp.72-81
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    • 2000
  • Backgrounds : Authors evaluated the quantitative culture of bronchoalveolar lavage fluid(BALF) in patients who were being treated with antimicrobial agents and the characteristics of isolated microorganism. Method : A prospective study was done with 25 patients under mechanical ventilation and antimicrobial treatment in ICU and NCU of Yongdong Severance Hospital from Apr. to Sep. 1999. Patients were classified into two groups: control group (n=5) and patients with VAP (n=20). The threshold of quantitative culture of BAL fluid in the diagnosis of VAP was $10^4$ cfu/ml. Results : 1) In gram staining of BALF, one patient in the control group and four in the VAP group showed positive results. Quantitative culture of BALF showed no organisms in the patients in the control group and in 9 VAP patients. Therefore the overall sensitivity was 43.8%. 2) Frequency of isolated organisms cultured above diagnostic threshold was in the following order: E. cloaclae, S. aureus, K. pneumoniae, and A. baumani. S. aureus and Staphylococcus coagulase(-) were a11 resistant to oxacillin. Seven out of 10 isolated G (-) organisms were suspected to be organisms producing extended spectrum $\beta$-lactamase (ESBL). 3) The concurrence between gram staining of sputum aspiration and that of BALF was only in 1 case. And the concurrence of culture results was observed in 3 cases. Conclusion : The sensitivity of gram staining and quantitative culture of BALF from patients under antibiotic therapy and the concordance rate between conventional tracheal aspiration and BAL were low, facts which were important in interpretation the data. Since the frequency of drug resistance organisms was not different from that of foreign data, antibiotics must be prudently selected and used.

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Impacts of R&D and Smallness of Scale on the Total Factor Productivity by Industry (R&D와 규모의 영세성이 산업별 총요소생산성에 미치는 영향)

  • Kim, Jung-Hwan;Lee, Dong-Ki;Lee, Bu-Hyung;Joo, Won
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.2 no.4
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    • pp.71-102
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    • 2007
  • There were many comprehensive analyses conducted within the existing research activities wherein factors affecting technology progress including investment in R&D vis-${\Box}$-vis their influences act as the determinants of TFP. Note, however, that there were few comprehensive analysis in the industrial research performed regarding the impact of the economy of scale as it affects TFP; most of these research studies dealt with the analysis of the non -parametric Malmquist productivity index or used the stochastic frontier production function models. No comprehensive analysis on the impacts of individual independent variables affecting TFP was performed. Therefore, this study obtained the TFP increase rate of each industry by analyzing the factors of the existing growth accounting equation and comprehensively analyzed the TFP determinants by constructing a comprehensive analysis model considering the investment in R&D and economy of scale (smallness by industry) as the influencers of TFP by industry. First, for the TFP increase rate of the 15 industries as a whole, the annual average increase rate for 1993${\sim}$ 1997 was approximately 3.8% only; during 1999${\sim}$ 2000 following the foreign exchange crisis, however, the annual increase rate rose to approximately 7.8%. By industry, the annual average increase rate of TFP between 1993 and 2000 stood at 11.6%, the highest in the electrical and electronic equipment manufacturing business and IT manufacturing sector. In contrast, a -0.4% increase rate was recorded in the furniture and other product manufacturing sectors. In the case of the service industry, the TFP increase rate was 7.3% in the transportation, warehousing, and communication sectors. This is much higher than the 2.9% posted in the electricity, water, and gas sectors and -3.7% recorded in the wholesale, food, and hotel businesses. The results of the comprehensive analysis conducted on the determinants of TFP showed that the correlations between R&D and TFP in general were positive (+) correlations whose significance has yet to be validated; in the model where the self-employed and unpaid family workers were used as proxy variables indicating the smallness of industry out of the total number of workers, however, significant negative (-) correlations were noted. On the other hand, the estimation factors of variables surrogating the smallness of scale in each industry showed that a consistently high "smallness of scale" in an industry means a decrease in the increase rate of TFP in the same industry.

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