• The Journal of Asian Finance, Economics and Business
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• 제3권2호
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• pp.5-11
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• 2016

This study investigates the impact of Malaysia's capital market and other key determinants on Economic Growth from the period of 1988 to 2012. The key determinants studied are foreign direct investment and real interest rate. This study also examines the long run and short run relationship between the economic growth and capital market, foreign direct investment, and real interest rate by using bound testing cointegration of Autoregressive Distributed Lag (ARDL) and Error Correction Model (ECM) version of ARDL model. The empirical results of the study suggest that there is long- run cointegration among the capital market, foreign direct investment, real Interest rate and economic growth. The result also suggests that capital market and real interest rate have positive impact on economic growth in the short run and long run. Foreign direct investment does not show positive impact on economic growth in the short run but it does in the long run.

• 한국경제지리학회지
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• 제14권1호
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• pp.86-98
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• 2011

벤처캐피탈은 자금조달의 제약을 받지만 성장잠재력이 높은 중소 벤처기업을 발굴하며, 직접투자형태로 자금을 공급하고, 투자자금 회수시 최대 수익 실현을 위해 해당 기업의 가치가 극대화될 수 있도록 성장을 집중적으로 지원한다. 본고는 이러한 벤처캐피탈의 유망기업 발굴 자금공급(투자) 성장지원 기능을 성장잠재력 높은 지방 중소 벤처기업의 창업 성장과 그것을 통한 지역경제발전 추구에 지역별로 안정적으로 활용할 수 있는 방안을 모색하고자 하였다. 그러한 모색의 일환으로서 영국의 RVCF를 고찰하여 우리나라에 대한 정책적 시사점을 논의하였다. 또한 벤처캐피탈 기능과 지역경제발전을 개념적으로 고찰하였고, 벤처캐피탈 기능의 국내 지방기업 창업 성장 추구에의 활용도 살펴보았다.

• 한국기술혁신학회:학술대회논문집
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• 한국기술혁신학회 2006년도 춘계학술대회
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• pp.3-17
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• 2006

Ideas do not become exhausted, and there are no diminishing returns in the creation of knowledge. Nonetheless, growth ultimately ceases in this simplest model of endogeneous innovation. But, if we treat knowledge capital as a public capital considering of its non-appropriable benefits, economic growth can be sustained in the economy. We showed that considering goodness of fit of regression model, we can see that the empirical evidence is strongly in favor of the character of knowledge as the public knowledge capital. So, we can expect that by product differentiation, economic growth can be sustained in the Korean economy.

• 국제지역연구
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• 제21권1호
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• pp.201-219
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• 2017

This paper analyzes the economic effects of the S&T Innovation, R&D, human resources and investment on the economic growth using 18 countries. We have obtained the somewhat mixed results on the existence of unit root roots in variables. While most of Pedroni cointegration tests show that there are no panel cointegration among the variables, Kao cointegration test shows that there is the panel cointegration among the variables such as GDP, human capital, R&D investment and patent. Kao cointegration test result shows that human capital, R&D investment, patent economic growth seem to have the panel cointegration or the long-run relationship among them as a whole. The estimation results of individual OLS and panel estimation show that the human capital, R&D investment and technology innovation or patent had positively significant effects on economic growth or GDP.

• The Journal of Asian Finance, Economics and Business
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• 제7권11호
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• pp.1113-1122
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• 2020

The purpose of this study is to examine how the Indian banks have adjusted their risk-based capital ratios during 2009-2018 to meet the regulatory requirements. Banks can, in principle, increase their risk-based regulatory capital ratio, either by increasing their levels of regulatory capital or by shrinking their risk-weighted assets by adjusting asset growth or risk in the portfolio. We investigate banks' capital behavior by decomposing the change in the capital ratio into the contribution of its components and analyzing their variance across regulatory regimes and banks' ownerships. We further investigate how each component of the capital ratio is adjusted by the banks by breaking down them into balance sheet items. We find that the banks' capital behavior significantly differed between public and private sector banks and between the two regulatory regimes. During Basel II, banks, in general, followed a strategy of aggressive asset growth with increased risk-taking. The decline in the CRAR because of such an expansionary strategy was adjusted by augmenting additional capital. However, during Basel III, due to higher capital requirements, both in terms of quantity and quality, banks followed a strategy of cutting back their asset growth and reducing the risk in their portfolio to maintain their CRAR.

• 한국치위생학회지
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• 제23권6호
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• pp.441-449
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• 2023

Objectives: This study was conducted to analyze the factors influencing the positive psychological capital, growth mindset, and self-leadership of dental hygienists in the Seoul and Gyeonggi regions with regard to their retention intention. The findings would serve as basic data for improving the retention intention. Methods: The methods espoused for analysis comprised independent sample t-test and ANOVA for group comparisons, Pearson's correlation analysis for examining the correlation between variables, and multiple regression analysis for identifying factors affecting retention intention. Results: Positive psychological capital was higher among those under the age of 27 and employed in dental clinics. Growth mindset was higher among those with less than three years of work experience and those working in clinics. Self-leadership was higher among those aged 28-31, and retention intention was higher among those under the age of 27 and with less than three years of work experience (p<0.05). A correlation was observed between positive psychological capital and self-leadership (r=0.760), self-leadership and retention intention (r=0.514), positive psychological capital and retention intention (r=0.505), positive psychological capital and growth mindset (r=0.337), and growth mindset and self-leadership (r=0.245) (p<0.001). Factors influencing the intention to stay at work were self-leadership (β=0.309) and positive psychological capital (β=0.242) (p<0.05). Conclusions: In order to improve dental hygienists' retention intention, it is necessary to devise strategies for improving positive psychological capital and self-leadership.

• 지역연구
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• 제15권1호
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• pp.63-73
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• 1999

It is generally believed that there is a trade-off between economic growth and environmental quality since pollutants are generated in the process of production and consumption of commodities. Several researchers have shown this prevailing belief using the short-term input-output models. The literature, however, shows that there have been few attempts to investigate the relationship using long-term forecasting models. This motivates the current paper. This paper attempts to build a reginal growth model in a partial equilibrium framework taking into consideration the requirements of capital invested for pollutant abatement. Model is largely neoclassical. Labor is assumed to move a region with high utility specified in regional per capita average was income and pollution level while capital is partially mobile to a region with high returns. The regional growth is explored in a phase diagram. The paper shows that there are two stable growth equilibria which a region can converge over time and that the equilibria are distinguished by the initial threshold capital stock that a region holds. If the initial capital stock of a region is over(under) than the threshold size, the region converges to the higher (lower) growth equilibrium over time. Moreover, based on this result an environmental quality enhancing policy is analyzed in the phase diagram. It has revealed that the policy calls for the relocation of growth equilibrium points, specifically speaking, it stimulates an increase in labor stock and a decrease in capital stock. Hence the paper has suggested that the prevailing belief which the environmental policy negatively impacts on a regional economic growth is not always true.

• 산경연구논집
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• 제13권12호
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• pp.33-39
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• 2022

Purpose: This research investigates the paths of some important economic variables: government domestic product (GDP), capital accumulation, unemployment rates. Decreasing GDP, declining capital accumulation and higher unemployment affect to South Korea economy. The macroeconomic policies discussed are all capital financed accumulation policy and an enactment of unemployment regulation. Research design, data and methodology: The GDP, capital accumulation rates and unemployment rates are the main macroeconomic issues in the South Korea. This research studies the correlations of the GDP, capital accumulation, and unemployment rates by time series data from 2000 to 2005 in a Vector Autoregressive (VAR). Results: The first, GDP relates a positive effect between the GDP and capital accumulation in the long term. The second, there is the negative relationship between GDP and unemployment rates. Economic growth was strongly supported by employment growth and by declining unemployment. The third, There is positive relationship between unemployment rates and capital accumulation. Conclusions: This research provides that fiscal policy introduce to increasing GDP, private investments and employment rates. The GDP should be major on capital accumulation to increase employment rates in South Korea.

• 한국인구학
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• 제14권1호
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• pp.1-25
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• 1991

The Purpose of this study is to analyze the contribution of the total human capital formation to economic growth in Korea. In order to assess the contribution of the total human capital formation to economic growth, aggregate production functions are estimated using two ways of ordinary least squares and polynomial distributed lags based on 1955 - 1988 time series data in Korea. The total amount of investment in human capital is calculated by adding each amount of investment in formal education, vocational training, inter-provincial migration, and health in pecuniary terms. The findings of this study could be summarized as follows ; (1) If we enumerate the variables in good order according to the importance, we get the following ; namely, total number of labor force, inter-provincial migration, vocational training, health, physical capital, and formal education. (2) The contribution of the human capital to economic growth is much more larger than that of physical capital. In particular, it appears that inter-provincial migration and vocational training make a great contribution to economic growth. (3) It appears that investment in formal education has a continuous effect for fifteen years and maximum effect is observed approximately eight years later. In the case of vocational training, the effect of investment lasts for about 12-14 years and its effect on economic growth reaches maximum with the passage of seven to eight years after initial investment. (4) Investment in vocational training contributes more in the long run compared with investment in formal education. The effect of investment in formal education lasts longer than that of vocational training, while the effect of investment in vocational training is considerably larger in the short run compared with the investment in formal education.

• 유통과학연구
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• 제11권2호
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• pp.5-10
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• 2013

Purpose - The current research examines the effect of life cycle stages on capital structure of listed companies in Tehran Stock Exchange. Research design, data, methodology - By aid of 685 year-company data, which collected from financial statements of companies during 2006-2012, first, the companies, are classified into three groups including companies in growth, maturity and decline stages. After removing the companies, which were not in accordance with life cycle model, 86 companies were selected to test two main hypotheses of the research. Results - The results show that the capital structure of the sample companies is different in various life cycle stages. More investigation by LSD test also revealed that the total debt to total assets ratio means of the companies in growth stages were significantly different from those companies in maturity stages and those in growth stages had high level of debt to assets ratio. Conclusions - The result showed the average amount of the working capital for companies in three stages are significantly different and due to high level of operation of the companies in maturity and decline stages, these companies held high amount of working capital than those in the growth stages.