Consumption of Health Foods: Through the Investigation of the Cereal Grain Industry

( Nyeong Seon Son ) 한국산업조직학회 2014 한국산업조직학회 정책세미나 논문집 Vol.2014 No.1

This paper investigates whether consumer characteristics are related to their healthy choices in the cereal grain industry. In particular, we consider which consumer receives more substantial influence from the media and, in turn, increases healthier type of products (i.e., mixed grain). The empirical results suggest that the higher consumers have education levels, the less they are affected by the media. Finally, we produce many public policy and marketing implications about health products and agriculture.

Establishment Dynamics and Productivity: Is the ICT Industry Improving?

Nyeong Seon Son 서울대학교 경제연구소 2021 Seoul journal of economics Vol.34 No.3

The Korean ICT industry has recently experienced low productivity growth. This study examines this decline of labor productivity growth using the perspective of establishment dynamics. The establishment dataset covering one or more employees shows that the ICT industry has higher entry and exit rates than the other sectors. However, active reallocation in the ICT industry has slowed and the contribution of entrants to productivity growth has rapidly declined, especially in its service sector. Results show that the slowdown of establishment dynamics is related to the decline in productivity growth in the ICT industry.

기업 구조와 제조업 사업체의 퇴출 분석

손녕선 ( Nyeong Seon Son ),이윤수 ( Yoonsoo Lee ) 한국산업조직학회 2017 産業組織硏究 Vol.25 No.1

본 논문은 한국 제조업 사업체의 퇴출 확률을 사업체를 소유한 기업의 특성을 중심으로 분석한다. 구체적으로, 사업체를 소유한 기업이 다사업체 기업인지 단독사업체 기업인지의 여부와 해당 기업의 다각화 수준에 따라 사업체의 퇴출 양상이 어떻게 달라지는 살펴본다. 사업체와 모기업의 특성을 고려하여 실증 분석한 결과, 다사업체 기업은 단독사업체 기업에 비해 사업체를 퇴출시킬 확률이 높은 것으로 나타났다. 또한 다각화된 기업일수록 사업체를 퇴출시킬 확률이 높은 것으로 나타났다. 이는 다사업체 기업이 기업 내 자원배분 및 구조조정의 방법으로 사업체 퇴출을 보다 적극적으로 수행하고 있다는 것을 의미한다. 본 연구의 결과는 제조업사업체의 생존에 대한 분석에서 다사업체 기업과 단독사업체 기업을 구분하는 등 모기업의 특성을 고려하여 살펴보는 것이 중요하다는 점을 시사한다. This paper analyzes manufacturing plant exit in Korea focusing on the role of firm structure. In particular, we distinguish multiplant firms from single-plant firms. Moreover we examine the extent to which the probability of plant closing varies according to the degree of diversification of firms. We find that plants of multiplant firms are more likely to shut down. In addition, plants owned by firms with higher diversification level are more likely to close. Our results suggest that multiplant firms are more likely to shut down plants in consequence of more active resource allocation and restructuring within firms. This paper confirms that it is important to consider firm structure in understanding survival and growth of manufacturing plants.

제조업 기업의 외국인직접투자 유치와 해외직접투자 간의 관계 분석

손녕선 ( Nyeong Seon Son ),허정 ( Jung Hur ) 한국경제학회 2017 經濟學硏究 Vol.65 No.2

본 논문은 한국 제조업에서의 외국인직접투자와 해외직접투자 구조를 내부화 이론을 바탕으로 한 글로벌 가치사슬의 관점에서 분석한다. 통계청의 `기업활동조사` 자료를 활용하여 기업 수준에서 해외 모회사 여부, 해외 자회사 여부의 동시적 선택요인을 이변량 프로빗 모형을 통해 분석하였다. 분석 결과 해외 모회사 여부와 해외 자회사 여부는 동시적으로 고려될 필요가 있다는 점과 두 선택 사이에는 대체 관계가 있다는 사실을 확인하였다. 이러한 결과가 시사하는 바는 다음과 같다. 해외 모회사들이 국내 제조업에 투자하는 목적이 가치사슬 확장을 위한 전초기지 보다는 특화된 생산라인의 수직계열화일 가능성을 제시해준다. 반대로 해외 모회사가 없는 국내 기업들은 자체적인 글로벌 가치사슬 참여 및 확보를 위해 적극적인 해외 자회사 설립에 나서고 있음을 알 수 있다. 본 논문은 국내 제조업에서 발생하는 외국인직접투자와 해외직접투자를 글로벌 가치사슬의 관점에서 기업 수준 자료로 해석했다는 점에 의의가 있다. This paper conducts empirical analysis of a pattern of inward and outward foreign direct investment(FDI) of manufacturing firms in the perspective of the internalization theory. Using data on the Survey of Business Activities provided by the Statistics Korea, we use bivariate probit model to investigate correlation between foreign ownership and foreign affiliates. Our results show that there is substitutability between the two choices. The results suggest that the purpose of investment of foreign ownership to Korean manufacturing industry might not be to expand value chain, but to integrate specialized production stage. Otherwise, domestic firms without foreign ownership want to make foreign affiliate in order to join global value chain. The contribution of this paper is that we explain the pattern of inward and outward FDI in Korean manufacturing industry through the perspective of global value chain by using firm-level data.

무형자산 투자와 글로벌 가치사슬 참여

손녕선 ( Nyeong Seon Son ),전현배 ( Hyunbae Chun ),정현준 ( Hyun Joon Jung ),정성훈(논평),조태형(논평) 한국경제의 분석패널 2019 韓國經濟의 分析 Vol.25 No.3

본 연구는 Corrado et al.(2005, 2006, 2009)가 제시한 광의의 무형자산 정의에 따라 국제비교가 가능한 한국의 산업별 무형자산 투자 자료를 구축하였다. 미국을 포함한 선진국과의 국제비교를 통하여 한국의 무형자산 투자의 최근 추세와 산업별 현황 및 특징을 살펴보았다. 또한 무형자산 투자의 경제적 영향력을 살펴보기 위해, 글로벌가치사슬(global value chains) 참여도와 산업별 무형자산 투자의 관계를 분석하였다. 1995-2015년 기간 한국의 무형자산 투자는 GDP 대비 평균 약 7.58%로 나타났다. 주요 선진국과 비교한 결과, 한국의 무형자산 투자의 GDP 대비 비중은 미국의 약 70%수준이며, 분석 대상 17개국 중 13위에 머물고 있는 것으로 나타났다. 국제비교 결과 한국은 과학연구개발 무형자산 투자 수준은 높지만 브랜드와 기업특화자산 등 경제적 역량 관련 무형자산 투자 수준은 낮아, 전체적인 무형자산 투자 수준은 높지 않은것으로 나타났다. 산업별 분석결과 한국은 제조업보다는 서비스업의 무형자산 투자가 선진국에 비해서 매우 낮은 것으로 나타났다. 무형자산과 글로벌 가치사슬 참여의 관계를 살펴본 결과, 무형자산 투자가 활발한 산업일수록 글로벌 가치사슬에 참여하는 정도가 높은 것으로 나타났다. 특히 혁신재산과 경제적 역량 투자가 높은 산업일수록 전방연계 형태의 가치사슬 참여가 활발하고, 컴퓨터화 정보와 경제적 역량투자가 활발한 산업에서 후방연계 형태의 참여가 높은 것으로 나타났다. 본 연구에서 구축한 무형자산 투자 자료는 유형자산에서 무형자산으로 투자의 중심 이동을 경험한 주요 선진국의 경제구조 변화가 한국에도 발생하고 있는지를 파악할 수 있게 한다. 또한 본 연구는 무형자산 투자 중심의 경제가 가지고 올 산업 및 무역 구조 변화 분석에 필요한 자료를 제공한다는 점에서도 의의를 가진다. In this paper we construct industry-level intangible investments in Korea based on the method suggested by Corrado et al.(2005, 2006, 2009). We examine the characteristics of intangible investments in Korea by comparing with those in advanced countries. We find that the ratio of intangible investment to GDP in Korea is on average 7.58% between 1995 and 2015, which is approximately 70% of that in the U.S. Among advanced countries, Korea’s intangible investment on R&D is relatively high, while its investment on economic competencies is very low. Compared to manufacturing, intangible investment in the service sector is much lower in Korea than that in advanced countries. Furthermore, we investigate the relationship between intangible investment and participations in global value chains at the industry level, which enables us to find the economic impacts of the increased intangible investment. We find that industries with a high intangible investment are more likely to participate in global value chains and types of intangible investment have different impacts on the participation in global value chains. This paper contributes to improve our understanding of changes in economic structure caused by the increased intangible investment. Providing the industry-level intangible dataset, this paper will promote future studies that investigate various impacts of intangible investments on the Korean economy.

Hollowing Out or Filling In? The Effects of Multinational Enterprises on Domestic Plant Turnover and Job Growth in Factory Asia

( Hyunbae Chun ),( Jung Hur ),( Nyeong Seon Son ) 한국경제학회 2020 The Korean Economic Review Vol.36 No.2

In recent years, multinational enterprises (MNEs) originating from Asian countries, such as China and Korea, have rapidly expanded their global operations. However, the employment effects of these MNEs on their home countries have rarely been studied. By using Korean firm-plant matched data over the period of 2008-2013, we examine the effects of MNEs on domestic plant turnover and job growth. We find that Korean MNEs are more likely to close down their domestic manufacturing plants and open new plants than non-MNEs. Along with active plant turnover, Korean MNEs exhibit great active job reallocation across their domestic manufacturing plants within firms, without resulting in net job loss. In sum, Korean MNEs participating in Factory Asia have restructured their domestic manufacturing bases rather than hollowing them out.

Can the Property Rights Theory Explain Cross-border Vertical Integration of Multinational Firms? Firm-level Evidence in Korea

Hyunbae Chun,Jung Hur,Doyoung Kim,Nyeong Seon Son 서울대학교 경제연구소 2015 서울대학교 경제연구소 학술대회 논문집 Vol.2015 No.1

We empirically test the property rights theory for multinational firms’ decision on cross-border vertical integration. To examine its unique predictions that alternative theories, such as the transaction cost economics, do not imply, we investigate not only the impact of the importance of producers’ relationship-specific investment on vertical integration decision but also that of suppliers’ relationship-specific investment. Using data on Korean multinational firms in the producing industries and their foreign affiliates in the supplying industries, we find that cross-border backward vertical integration is positively related to the R&D intensity of domestic producing industries, and negatively related to that of foreign supplying industries. In the growing literature on the boundaries of multinational firms, we provide novel test results that the property rights theory can explain multinational firms’ decision on cross-border vertical integration.

Regional Difference in the 4th Industrial Revolution by Technological Skill: Using Online Job Posting Data

조장희(Janghee CHO),안진현(Jinhyun AHN),손녕선(Nyeong Seon SON) 제주대학교 관광과경영경제연구소 2021 産經論集 Vol.41 No.1

Purpose: The 4th Industrial Revolution changes the paradigm of living and creates technological and economic difference between regions. This is a job that in perspective, the long-term regional imbalance of employments covered technology of AI, Big-data, and others, leads to an imbalance of regional growth. Research design, data and methodology: This study examines the number of jobs related to the 4th Industrial Revolution between regions through online job posting data. Job data are collected through the API of the Saramin website, and we compare the proportion of skilled jobs among 17 provinces. Results: Among the jobs in AI, big-data, robotics, and etc, the proportion of finding AI experts is the highest. These jobs are mainly concentrated in the metropolitan areas such as Seoul and Gyeonggi, and are located in Busan, Daegu and Daejeon, for robotics and some skills. In particular, skilled jobs are concentrated in districts with many IT companies, such as Gangnam and Seocho in Seoul and Bundang in Gyeonggi. Conclusions: The imbalance between urban and non-urban jobs related to the 4th Industrial Revolution can create a skill gap and widen the economic gap between regions. Therefore, policies for the 4th industrial revolution in non-urban areas are needed.

Cross-Border Vertical Integration and Technology New Evidence for Property Rights Theory

( Hyunbae Chun ),( Jung Hur ),( Doyoung Kim ),( Nyeong Seon Son ) 한국산업조직학회 2016 한국산업조직학회 정책세미나 논문집 Vol.2016 No.1

We empirically test the property rights theory for multinational firms’ decision on cross-border Vertical integration. To examine its unique predictions that alternative theories, such as the transaction cost economics, do not imply, we investigate not only the impact of the importance of producers’ relationship-specific investment on vertical integration decision but also that of suppliers’ relationship-specific investment. Using data on Korean multinational firms in the producing industries and their foreign affiliates in the supplying industries, we find that cross-border backward vertical integration is positively related to the R & D intensity of domestic producing industries, and negatively related to that of foreign supplying industries. In the growing literature on the boundaries of multinational firms, we provide novel test results using a firm-level dataset that the property rights theory can explain multinational firms’ decision on cross-border integration.