• Korea Trade Review
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• v.43 no.3
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• pp.125-145
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• 2018

The Baltic Shipping Exchange is reporting the Baltic Dry Index (BDI) which represents the average charter rate for bulk carriers transporting major cargoes such as iron ore, coal, grain, and so on. And the current BDI index is reflected in the proportion of capesize 40%, panamax 30% and spramax 30%. Like mentioned above, the capesize plays a major role among the various sizes of bulk carriers and this study is to analyze the influence of the factors influencing on charter rate of capesize carriers which transport iron ore and coal as the major cargoes. For this purpose, this study verified causality between variables using Vector Error Correction Model (VECM) and tried to derive a long-run equilibrium model between the dependent variable and independent variables. Regression analysis showed that every six independent variable has a significant effect on the capesize charter rate, even at the 1% level of significance. Charter rate decreases by 0.08% when capesize total fleet increases by 1%, charter rate increases by 0.04% when bunker oil price increases by 1%, and charter rate decreases by 0.01% when Yen/Dollar rate increases by 1%. And charter rate increases by 0.02% when global GDP increases by one unit (1%). In addition, the increase in cargo volume of iron ore and coal which are major transportation items of capesize carriers has also been shown to increase charter rates. Charter rate increases by 0.11% in case of 1% increase in iron ore cargo volume, and 0.09% in case of 1% increase in coal cargo volume. Although there have been some studies to analyze the influence of factors affecting the charterage of bulk carriers in the past, there have been few studies on the analysis of specific size vessels. At present moment when ship size is getting bigger, this study carried out research on capesize vessels, which are biggest among bulk carriers, and whose utilization is continuously increasing. This study is also expected to contribute to the establishment of trade policies for specific cargoes such as iron ore and coal.

• Journal of Energy Engineering
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• v.25 no.3
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• pp.1-8
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• 2016

North Korea is currently undergoing an economic crisis of industrial productivity reduction, which resulted from decreased energy production and economic sanctions due to conflicts with the international society. This paper examined the technological status of North Korea's natural gas and coal industries which are essential sectors for recovery of the economy and North-South cooperation on energy industry. This paper also analyzed investment strategies in North Korean energy industries and calculated the size of economic ripple effect of the investment on North and South Korea. In order to analyze the effect of the investment on North Korean economy, we constructed an inter-industry relation table of North Korea for year 2014 and used an input-output model. The ripple effect of the investment in natural gas and coal industries turned out to be 1.012 billion dollars and 2.742 billion dollars respectively. In order to analyze the ripple effect of the investment on South Korean economy, we constructed an inter-industry relation table of South Korea for year 2013 and used a demand-driven model for inter-industry analysis. As a result, production, added-value and employment inducement coefficients of the investment were calculated as 2.02073, 0.62697 and 8.99409 for the natural gas industry and 2.02130, 0.62701 and 9.00413 for the coal industry respectively.

• Journal of Korea Society of Industrial Information Systems
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• v.22 no.3
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• pp.95-107
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• 2017

This Study Categorized Service Quality of Banks into Interaction Quality, Physical Environment Quality, and Outcome Quality, and Proposed a Structural Model for Each Dimension of Service Quality on Customer Satisfaction, Persistence Intention and Cross-buying Intention, and Conducted an Empirical Analysis on the Customers who Use Banks. First, it was Confirmed that Three Dimensions of Service Quality Physical Environment Quality, Interaction Quality and Outcome Quality are One of the Sources that Form the Customer Satisfaction for Banks. Second, the Higher the Perceived Bank's Interactive Product Quality, Outcome Quality, and Physical Environment Quality Perceived by Customers Using Bank, it's Shown to have more Positive Effect on Customer Satisfaction, and the Effect Size was Shown in Order of Interaction Quality, Physical Environment Quality, and Outcome Quality. Third, Customer Satisfaction on Bank Services was Shown to have a Positive Effect on Relationship Intention and Cross-buying Intention. Finally, Based on the Results of this Analysis, the Implications of this Study and Future Research Directions were Presented.

• Korean Journal of Social Welfare
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• v.58 no.4
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• pp.313-339
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• 2006

The purpose of this study is to analysis empirically the socio-structural causes of working poor. This study used raw data of of Korea National Statistical Office from 1982 to 2004, and put in operation time series multiple regression analysis to use socio-economic factors of macro-economy environment, labor market, distribution system. Contrary to assertion of growth-concentrated people, economic growth rate has had significantly positive effect on the change of working poor size. In the growth period there has been trickle down effect of economic growth, but in the post-Fordism period there has not been valid circular relation. Recent introduction of the U. S. type capitalism resulted in negative phenomenon like aggravation of income distribution, deterioration of employment quality, enlargement of working poor. And there rise a question on socio-economic durability due to de-compensation on intra-institution. It is necessary to grope transition to the high road social market model - that is stable and sustainable - correspond to Korea that is stable and sustainable.

• Journal of Environmental Science International
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• v.16 no.5
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• pp.603-610
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• 2007

Recent urban sprawl has destroyed various kinds of green space in tile city. It has affected duality of people's life in the city, as well as urban ecosystem. Recent study shows the possibilities of roofs as green spaces in urban central site where the land costs are generally high. This research focuses on Jung-Gu district in Daegu Metropolitan city as a study area and calculates possible area of green roof using 2002 Autocad program based on aerial photographs and land registration maps. And the purpose of this research is to analyze environmental and economic effects of green roof. The environmental effects are as follows. It is expected that $91,106m^2$ green spaces, 12.13 % of study site, will be added if green roof is performed in the study site. It is assumed that the expanded areas could reduce the highest temperature to $0.5-1.0^{\circ}C$ during the summer in terms of environmental effect. And the following shows the economic effects. If green roof and greening urban central site are created as a same size of $91,106m^2$, it will be expected that the costs of green roof will be much more in-expensive than about 98 billions won. It will be also found that the expense of cooling energy can be saved out about 8 millions won per day in summer, if grass planting is accomplished on the possible areas of green roof in the study site. Therefore, it is desirable to take legal supports such as enacting regulations to activate green roof for more environmental and economic effects. For instance, green roof for public institutions, school and model area selection are desirable method to publicize the effect of greening program for citizen's participation.

• KDI Journal of Economic Policy
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• v.42 no.1
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• pp.57-95
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• 2020

As a case study of an ex-post evaluation of regulations, in this paper I evaluate the 'uniform settlement rate requirement', a regulation that was introduced in 1986 and that was applied to the international telephone market in the U.S. for more than 20 years. In a bilateral market between the U.S. and a foreign country, each U.S. firm and its foreign partner jointly provide international telephone service in both directions, compensating each other for terminating incoming calls to their respective countries. The per-minute compensation amount for providing the termination service, referred to as the settlement rate, is determined by a bargaining process involving the two firms. In principle, each U.S. firm could have a different settlement rate for the same foreign country. In 1986, however, the Federal Communications Commission introduced the Uniform Settlement Rate Requirement (USRR), which required all U.S. firms to pay the same settlement rate to a given foreign country. The USRR significantly affected the relative bargaining positions of the U.S. and foreign firms, thereby changing negotiated settlement rates. This paper identifies two main routes through which the settlement rates are changed by the implementation of the USRR: the Competition-Induced-Incentive Effect and the Most-Favored-Nation Effect. I then empirically evaluate the USRR by estimating a bargaining model and conducting counterfactual experiments aimed at measuring the size of the two effects of the USRR. The experiments show remarkably large impacts due to the USRR. Requiring a uniform settlement rate, for instance, results in an average 32.2 percent increase in the negotiated settlement rates and an overall 13.7 percent ($3.43 billion) decrease in the total surplus in the U.S. These results provide very strong evidence against the implementation of the USRR in the 1990s and early 2000s.

• International Area Studies Review
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• v.18 no.3
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• pp.175-201
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• 2014

This paper analyses the effect of R&D investment on local economies. R&D investment contributes to the regional local economy by increasing employment and production activity of the investees. The investees may end up with increased productivity, sales and employment. At the regional R&D level, the central government R&D fund and firm self R&D budget will be the source of R&D investment. Further positive effects are inter-related with local industries. This study carried out an empirical analysis on the effect of R&D investment on local economies using Korean panel data after comparing international literatures. The dynamic panel estimator is used to estimate an autoregressive model with lagged dependent variable. Using the Da Silva method, mixed variance-component moving-average error process is estimated and selected. R&D investment is very important factor to improve the productivity of a region and the size of the effect is dependent on the time periods within the Korean economic history.

• Journal of the Korean Society of Physical Medicine
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• v.14 no.1
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• pp.63-73
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• 2019

PURPOSE: This study examined the effects of cardiopulmonary physiotherapy on the cardiopulmonary function, metabolism, inflammatory markers, and quality of life in patients with coronary artery disease who underwent percutaneous coronary intervention (PCI). METHODS: Electronic bibliographic databases of a regional information sharing system (RISS) and PubMed were searched to identify studies with randomized and non-randomized controlled trials. As the final outcome, 320 publications were identified and 18 studies met the inclusion and exclusion criteria. All studies were assessed for the quality of study using Cochrane's risk of bias. RESULTS: Sixteen studies met the inclusion criteria, in which meta-analysis had been conducted to examine the effectiveness of cardiopulmonary physiotherapy on the cardiopulmonary function, metabolism, inflammatory markers, and quality of life in patients undergoing PCI. Meta-analysis based on a random effect model showed that the cardiopulmonary physiotherapy was beneficial in improving the cardiopulmonary function, metabolism, inflammatory markers, and quality of life. In particular, there was a significant effect on the peak oxygen uptake (effect size 5.30%; 95% confidence interval 3.62~6.97). Cardiopulmonary physiotherapy for a during period of 6 weeks or more was effective in significantly improving the cardiopulmonary function and metabolism function in a subgroup analysis, but cardiopulmonary physiotherapy for less than 6 weeks was not effective. CONCLUSION: Cardiopulmonary physiotherapy has positive effects on the cardiopulmonary function, metabolism, inflammatory markers, and quality of life in patients undergoing PCI.

• The Korean Journal of Franchise Management
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• v.13 no.4
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• pp.39-48
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• 2022

Purpose: COVID-19 has negatively influenced the financial performance of restaurant firms. Previous literature suggests that the franchising strategy effectively helps restaurant firms recover from difficult business conditions through various methods for expanding business size and enhancing business efficiency. According to risk-sharing theory, restaurant franchisors may minimize operational risks by sharing the risks with their franchisees. For instance, restaurant franchisors could generate more stable cash flow using franchise fees from their franchisees. However, research on the effect of franchise's risk reduction factor on business performance during pandemic is scarce. Thus, this study aims to examine the positive moderating effect of franchising between COVID-19 and restaurants' financial performance. Research design, data, and methodology: Panel data including financial information and franchising status of restaurant firms were collected for analysis. In order to control for unobserved firm-specific factors, generalized least squared estimation in fixed effects model was conducted. Huber-White robust standard errors were used to deal with heteroscedasticity issues. Results: It was found that COVID-19 pandemic has a negative effect on the restaurants' financial performance such as ROA (return on assets), ROE (return on equity), and PM (profit margins), which confirms the findings from existing literature. More importantly, results show that the degree of franchising has a positive moderating effect on the relationship between COVID-19 and financial performance of restaurant firms. This suggests that more active engagement in franchising may decrease negative impacts of COVID-19 on the restaurants' financial performance. Conclusions: The study supports existing literature related to risk-sharing theory, by confirming that pandemics, such as COVID-19, negatively affect financial performance of the restaurants. Furthermore, it was found that franchising strategy can help lessen negative impacts of pandemics on the firm performance. These findings can contribute to the franchise and restaurant management literature by suggesting the role of franchising in reducing business risks, thereby positively affecting financial performance. Moreover, this study offers business managers of franchisors and franchisees insights for utilizing franchising in restaurant risk management. Policymakers may also gain information on aiding restaurant firms during global crisis, such as COVID-19.

• The korean journal of orthodontics
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• v.53 no.6
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• pp.374-392
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• 2023

Objective: Assess and evaluate the different indicators of oral health-related quality of life (OHRQoL) among patients treated with clear aligners (CAs) versus those treated with conventional fixed orthodontics (FAs). Methods: An electronic search was performed on the database is Web of Science, Scopus, and Embase databases. Randomized and non-randomized control trials, cross-sectional, prospective cohort and retrospective trials were included. Quality was assessed with risk of bias tool and risk of bias in non-randomised studies. Meta-analyses were performed with random effects models, estimating the standardized and non-standardized mean differences, odds ratio and risk ratio as the measure of effect. The effect on time was determined using a meta-regression model. Results: Thirty one articles were included in the qualitative synthesis and 17 in the meta-analysis. CAs had a significantly lower negative impact on QoL, with an "important" effect size, while the influence of time was not significant. Periodontal indicators plaque index (PI), gingival index (GI), probing depth (PD), and bleeding on probing show significantly better values in patients treated with CAs, with moderate to large effect sizes. PI and GI have a significant tendency to improve over time. In microbiological indicators, CAs present a lower biofilm mass without differences in the percentage of patients with high counts of Streptococcus mutans and Lactobacilli bacteria. The risk of white spot lesion onset is ten times lower in carriers of CAs. Conclusions: Patients wearing CAs show better periodontal indicators, less risk of white spot development, less biofilm mass and a better QoL than patients with FAs.