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R&D, Foreign Ownership, and Integration of Firms: Evidence from Japanese Firms
( Hyeog Ug Kwon ),( Jung Soo Park ) 한국산업조직학회 2014 한국산업조직학회 정책세미나 논문집 Vol.2014 No.3
This study examines whether the research and development (R&D) activities of foreign-owned firms differ notably from the R&D activities of domestically-owned firms. Since most foreign-owned firms are usually local subsidiaries of integrated units of firms, this study empirically investigates the effects of foreign ownership on R&D investments controlling for the integration effects based on a comprehensive Japanese firm-level panel dataset for the period of 2000.2008. The results reveal the following. First, the integration effect on R&D is negative for the local subsidiaries that are majority owned by a parent firm. Second, controlling for the integration effect, the foreign ownership effect is found to be insignificant overall, but is positive when the parent firm is located in a non-G7 country. Third, the negative integration effect is stronger in the case of horizontal integration than vertical integration. These findings imply that globalization and the integration of firms may not only affect production patterns and global supply chains, but may also have an important impact on the level of domestic R&D activities.
What Determines R&D Intensity? Evidence from Japanese Manufacturing Firms
( Hyeog Ug Kwon ),( Tomohiko Inui ) 서강대학교 시장경제연구소(구 서강대학교 경제연구소) 2013 시장경제연구 Vol.42 No.1
We examine the determinants of research and development (R&D) intensity in Japanese manufacturing industries using a large sample of 13,000 firms for 1994. The results show that the technological opportunity and appropriability conditions of an industry play a central role in R&D investment. We also find that internal funds, firm size, advertising intensity, diversification, intra- and inter-firm networking technologies, licensing, export intensity, and foreign ownership positively affect R&D investment, while the effects of outsourcing, domestic ownership and market concentration are negative.
R&D, Foreign Ownership, and Integration of Firms: Evidence from Japanese Firms
( Hyeog Ug Kwon ),( Jung Soo Park ) 한국산업조직학회 2014 한국산업조직학회 정책세미나 논문집 Vol.2014 No.2
This study examines whether the research and development (R&D) activities of foreign-owned firms differ notably from the R&D activities of domestically-owned firms. Since most foreign owned firms are usually local subsidiaries of integrated units of firms, this study empirically investigates the effects of foreign ownership on R&D investments controlling for the integration effects based on a comprehensive Japanese firm-level panel dataset for the period of 2000-2008. The results reveal the following. First, the integration effect on R&D is negative for the local subsidiaries that are majority owned by a parent firm. Second, controlling for the integration effect, the foreign ownership effect is found to be insignificant overall, but is positive when the parent firm is located in a non-G7 country. Third, the negative integration effect is stronger in the case of horizontal integration than vertical integration. These findings imply that globalization and the integration of firms may not only affect production patterns and global supply chains, but may also have an important impact on the levelof domestic R&D activities.
권혁욱 ( Kwon Hyeog Ug ) 서강대학교 지암남덕우경제연구원(구 서강대학교 시장경제연구소) 2018 시장경제연구 Vol.47 No.2
본 논문에서 잃어버린 20년동안 생산성이 하락하고, 임금이 낮아졌음을 확인했고, 두 변수가 연관되어 있음을 확인했다. 이 결과로부터 일본경제가 장기침체에 빠진 원인이 생산성 하락이라는 구조적인 문제 뿐만 아니라 생산성 하락에 기인한 임금 저하로 유효수요의 감소도 있었기 때문임을 알 수 있었다. In this study, we find that Japan’s productivity and wages have been declining over the past two decades. We also confirm that productivity and wages are significantly related. These results show that the cause of Japan’s secular stagnation is not only the decline in productivity arising from structural issues, but also the decrease in effective demand due to reduced wages resulting from the declining productivity.
수출, 해외직접투자와 생산성: 일본 제조업기업데이타에 기초한 실증분석
권혁욱 ( Hyeog Ug Kwon ) 서강대학교 경제연구소 2010 시장경제연구 Vol.39 No.3
이 논문은 비모수검정법과 일본의 기업데이타를 이용해서, 다른 기업보다 생산성이 높은 기업이 국제시장에 진출한다는 Helpman, Melitz and Yeaple (2003)과 Head and Ries(2003)가 제기한 가설을 검정한다. 경제이론모델이 예축한대로 일본에 진출한 외국 다국적기업의 생산성이 가장 높고, 그다음이 일본국적의 다국적기업, 수출기업, 그리고 가장 생산성이 낮은 기업이 국내시장에서 활동하는 국내기업임을 발견했다. This paper employs nonparametric tests and Japanese firm level data to examine the hypothesis put forward by Helpman, Melitz and Yeaple (2003) and Head and Ries (2003) that firms engaging in international market are more productive than other firms. We find that the productivity distribution of foreign firms operating in Japan dominates that of Japanese multinationals, which dominates that of exporters, which in turn dominates that of non-exporters, thus confirming the theoretical predictions.
HBV DNA 양성 환자에서 간이식 수술 전 lamivudine치료의 의의
권준혁 ( Kwon Jun Hyeog ),서경석 ( Seo Gyeong Seog ),이남준 ( Lee Nam Jun ),최석호 ( Choe Seog Ho ),장영문 ( Jang Yeong Mun ),이건욱 ( Lee Geon Ug ) 대한소화기학회 2003 대한소화기학회 추계학술대회 Vol.2003 No.-
<목적> 간이식 대상 환자에서 HBV DNA 양성 환자는 간이식후 B형 간염의 재발이 높기 때문에 lamivudine을 투여해 왔었다. 그러나 사체 이식에 있어서 대기 기간이 길어지는 경우가 많아서 투여 기간이 장기화됨에 따라 경제적 문제 및 lamivudine 내성 발생의 문제가 대두되고 있다. 또한 최근 수술후 lamivudine과 HBIG의 병합요법으로 재발이 줄어들고 있다. 이에 수술 전 lamivudine의 치료 기간이 수술 후 HBV 재발에
An Alternative System GMM Estimation in Dynamic Panel Models
Hosung Jung,Hyeog Ug Kwon,Gyehyung Jeon 한국계량경제학회 2015 JOURNAL OF ECONOMIC THEORY AND ECONOMETRICS Vol.26 No.2
The system GMM estimator in dynamic panel data models which combines two sets of moment conditions, i.e., for the differenced equation and for the model in levels, is known to be more efficient than the first-difference GMM estimator. However, an initial optimal weight matrix is not known for the system estimation procedure. Therefore, we suggest the use of ‘a suboptimal weight matrix’ which may reduce the finite sample bias whilst increasing its asymptotic efficiency. Our Monte Carlo experiments show that the small sample properties of the suboptimal system estimator are much more reliable than any other conventional system GMM estimator in terms of bias.
Sanghoon Ahn,Kyoji Fukao,Hyeog Ug Kwon 서울대학교 경제연구소 2004 Seoul journal of economics Vol.17 No.4
Both Korea and Japan are leading exporting countries of advanced manufactured products, and the competitive and efficient manufacturing activities are important pillars of the affluence of the two economies. Yet, comparing the manufacturing sectors of the two countries in the 1990s brings to light a startling contrast in their performance. Applying the same empirical method to the analysis of micro-data for Japanese manufacturing firms for 1994-2001 and Korean manufacturing plants for 1990-8, this paper examines differentials in Japanese and Korean productivity growth. This paper focuses on the role of competition in firm dynamics and on the importance of internationalization as a major determinant of firm performance.
A Decomposition of the Decline in Japanese Nominal Wages in the 1990s and 2000s
Naomi Kodama,Tomohiko Inui,Hyeog Ug Kwon 서울대학교 경제연구소 2015 Seoul journal of economics Vol.28 No.1
In the 1990s and the 2000s, the average nominal wage in Japan declined continuously. This is a sharp contrast to wage trends in other developed countries in the same period. This study seeks to provide new quantitative evidence on the possible factors contributing to the nominal wage decline in Japan’s so-called “two lost decades” employing the Blinder-Oaxaca decomposition method using data from the Basic Survey on Wage Structure for 1993-2008. We find that half of the decline of the average wage in the total economy is due to the growing employment share of low-wage industries. Further, we decompose changes in average wages at the industry level for three subperiods representing different phases of the business cycle in Japan. Controlling for worker characteristics, we find the wages of workers in the manufacturing, wholesale, and medical, health care, and welfare industries declined between 1998 and 2003. Further, our results show that 1997 was the turning point in terms of changes in the wage structure. In addition, we find that wages for workers with the same characteristics continued to decline in the 2000s, albeit at a slower pace, and the main factor responsible for the wage decline was changes in the composition of the workforce in the wholesale, retail, and medical, health care, and welfare industries.