• Management & Information Systems Review
• /
• v.34 no.2
• /
• pp.151-169
• /
• 2015

Social enterprises that are solving pressing global issues and providing services such as micro-finance, affordable housing, appropriate technology and education for the 'bottom of the pyramid' as well as cultural and community-related businesses that improve the 'quality of life' within a society are the target of impact investments. Among them, a capital financing is one of the most important factor in founding and fostering of social enterprise. However, the capital market for social enterprises in South Korea are not yet sufficiently developed. The Britain and U.S.A. attempted to solve the social problem by the introduction of the social innovation credit model, for example, social impact bonds(SIB), Big Society Capital, DBLIF, and ACCION International, which are considered as an innovative new financing instrument for social program. Instruments are being attempted for the first time in Britain and America. This study have two purposes. The first purpose is abstracting the institutional mechanism for introduction of impact investment such as SIB and DBLIF case in Britain and U.S.A.. Second, analyzing type and mix of policy instrument on impact investment from the perspective of policy instrument.

• Journal of Korean Society of Transportation
• /
• v.28 no.2
• /
• pp.65-75
• /
• 2010

When the cost-benefit analysis is applied for social discount rate(SDR), the choice of SDR to be used in analysis is critical. One of the important issues when public investment project evaluate what is the SDR theory, so there have studied about SDR and no exact answer it so far. In this study, there are three of SDR theories that be estimated social time preference rate, social investment returns and the weighted average method from 1990s, 2000 to 2003 and 2004 to 2008.. First, social time preference method computes consumer's interest rate and the model of Pearce and Ulph(1999). Second, social investment returns method computes private returns of capital. Third, the weighted average method computes the model of Squire, L., Herman G. van der Tak(1975) and private consumption expense and the private investment expense. SDR is estimated in the rage between 2.4% and 3.9% from 2004 to 2008. It is not appropriate that the interest rate was unstable. But it is consider for social equity from present to future generations. Considering this things, downward need to the value of current SDR 5.5%.

• Asian Journal of Business Environment
• /
• v.9 no.1
• /
• pp.21-28
• /
• 2019

Purpose - The purpose of this paper is to investigate the relationship between corporate social responsibility disclosure (CSRD) and investment-cash flow sensitivity, which is a surrogate for financing constraints. Research design, data, and methodology - Taking China's A-share listed companies between 2009 and 2016 as a sample, this paper empirically tests the relationship between CSRD and investment-cash flow sensitivity by Panel VAR model. By introducing the orthogonal impulse response function, this paper distinguishes the fundamental factors and financial ones that affect corporate investment behavior. Results - Findings indicate that: (1) investment-cash flow sensitivity of firms with low level of CSRD is significantly lower than that of firms with high level of CSRD; (2) the orthogonal impulse response of corporate investment to cash flow in firms with high level of CSRD is significantly different from zero, but it is not significant in firms with low level of CSRD; (3) for firms with low level of CSRD, 0.7% of corporate investment volatility can be explained by the change in cash flow, which is lower than that of firms with high level of CSRD (1.1%). Conclusions - Corporations disclosing more and higher quality CSRD are often those faced with financing constraints. Voluntary disclosure can help them alleviate information asymmetry and financing constraints.

• Journal of Digital Convergence
• /
• v.9 no.1
• /
• pp.107-114
• /
• 2011

In order to have the highest level of a certain society's technology be evaluated as digital contents technology the value concept of such technology's social utilization must be established while active investment on the technology takes place and makes it the subject of social capitalization. This study wishes to discuss the strategies and methods of establishing and managing IP holding company which requires business activation with digital contents technology at its base, research ways of vitalizing IP holding company to expand social utility values of contents technology, suggest necessary systemic improvements and investment activation methods, management structure, and governance structure by investigating ways to stimulate the industrialization of contents technology through the establishment and management of this IP holding company, and finally come up with a realistic measure to establish and manage a IP holding company. Strategies on commercialization of digital contents technology and acceleration of technology development, as well as activation of venture business set-ups will be analyzed and suggested based on such suggestions while IP holding company's digital contents technology investment activation model will be established to produce means to realize discovering superior contents companies and activation of investment, and activating high quality contents production for the global market.

• Journal of Family Resource Management and Policy Review
• /
• v.12 no.2
• /
• pp.31-55
• /
• 2008

Human capital theory and social capital theory provide a framework for analyzing economic well-being. The purpose of this study was to investigate the effects of human capital and social capital on the economic well-being of the elderly. The data from the 1st wave of KLoSA (Korean Longitudinal Study of Aging) were used (n=3,426). The major findings were as follows: First, human capital and social capital are both resources that can contribute to increasing the economic well-being of the elderly. Second, the effects of human capital on the economic well-being of the elderly were relatively higher than the effects of social capital. Third, the relative contributions of human capital and social capital to increasing economic well-being varied by sex, age, and region. Based on the empirical results, the implications for social investment in human capital and social capital were provided.

• Journal of Families and Better Life
• /
• v.26 no.5
• /
• pp.315-332
• /
• 2008

The purpose of this study was to investigate the relative effects of human capital and social capital on the economic well-being of late middle-aged Koreans. The data from the first wave of KLoSA (Korean Longitudinal Study of Aging) aged 50-64 were used (n=4,040). The major findings were as follows: First, human capital and social capital are both resources that can contribute to increasing the economic well-being of the middle-aged. Second, the relative contribution of human capital to the economic well-being of the middle-aged varied by the level of social capital, including formal network and informal network. Third, the relative contribution of social capital to the economic well-being of the middle-aged varied by the level of human capital, including employment type and educational attainment. Based on empirical results, the implications for social investment in human capital and social capital were provided.

• International Journal of Advanced Culture Technology
• /
• v.9 no.4
• /
• pp.213-218
• /
• 2021

In order to improve the quality of social services, developed countries overseas have introduced authorization or permit system to primary filtering when entering the market that provides social services. However, in Korea, a quality evaluation system for social service quality management has been introduced and implemented, but no significant effect has been achieved so far. Therefore, the purpose of this study is to investigate the relationship between service quality, service satisfaction, and repurchase intention, which are important variables to measure social service quality improvement, and to use it for service quality management. As a result of this study, service quality, service satisfaction, and repurchase intention are important factors for service quality improvement. It is necessary to secure a service provider of and continuous user selection and service quality management are also important.

• Ocean and Polar Research
• /
• v.40 no.3
• /
• pp.177-190
• /
• 2018

This study seeks to analyze trends in Korean government support for marine biotechnology R&D investment. The quantitative analysis proposed in this paper provides useful data to inform government policy making decisions in relation to R&D investment in the marine biotechnology. Data used in this study is from NTIS (National Science & Technology Information Service) DB. Empirical results indicate that national R&D investment in the area of marine biotechnology has recently been increased in terms of the number of R&D programs and the amount of R&D investment. The results also show that the R&D programs in the area of marine biotechnology involve various Ministries of the government of Korea, although the Ministry of Oceans and Fisheries (MOF) performed a key role in the R&D investment in the marine biotechnology. Finally, the results of social network analysis in this study reveals that most of the R&D programs in the area of marine biotechnology seeks the development of new materials using unique features of marine bioresources.

• Journal of Digital Convergence
• /
• v.14 no.1
• /
• pp.53-63
• /
• 2016

This study aims to discuss what is needed for meaningful development of social service, focusing on Community Service Investment Project(CSIP). The contents of CSIP were analyzed on applying the Analytic Framework by N. Gilbert and H. Specht and the values that were the basis of social choice. Based on the analysis of output and policy value of this Project, this study draws three social service policy issues. First, 'localization' is needed to be emphasized more in CSIP because there are few programs that take into account the regional peculiarities. Second, as the social services focused on the individuality of the citizen is more important, it is necessary to examine 'sustainability' of CSIP. Third, in relation to the community building, it is necessary to discuss the modification of the CSIP's goals. As process for improving community, it is needed to review for local residents not participating in decision-making process, income-based user selection and appropriateness of the term 'investment' in the project name.

• Journal of the Korean Regional Science Association
• /
• v.34 no.1
• /
• pp.19-30
• /
• 2018

Social overhead capital(SOC) is an essential element for society to be developed and operated normally. In spite of the increase in the importance of SOC, It is difficult to present the criteria for the appropriate investment of SOC. and The discussion on making SOC investments of local government is insufficient. If the local autonomy has been guaranteed, local government increases investment in regional public goods that residents prefer. Reflection of such residents preferences is the driving force to bring the efficiency of resource allocation in the decentralization theorem. In this study, the authority and autonomy of local governments are measured through local finance. and the decision-making of local governments for SOC investment is examined in point of decentralization theorem. In the empirical analysis, the elasticities of fiscal resources are estimated for facilities(road, water and sewage, irrigation canal and flood control) that local governments are involved in investment. These decisions made by metropolitan cities and provinces were different. The difference was most evident in the effect of per capita local tax on investment. These results show that metropolitan cities and provinces that have different situation made investment decisions differently. It shows that local governments reflect the preferences of the residents in making an investment. The main implication of this study is as follow. In case the role of local government in social overhead capital investment is increased, the increase in efficiency of resource allocation occurs. and The fiscal resources must be raised by local taxes rather than the financial resources from the central government.