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Measuring Organization Capital in Japan : An Empirical Assessment Using Firm-Level Data
Tsutomu Miyagawa,YoungGak Kim 서울대학교 경제연구소 2008 Seoul journal of economics Vol.21 No.1
Globalization and the ICT revolution of the 1990s have forced firms to reorganize in order to survive in a more competitive market. Using an optimizing firm model with multiple assets, we examined whether organization capital is accumulated with investment in several types of assets. In contrast to Cummins's (2005) results, we found that the accumulation of organization capital is associated with investment in R&D assets and marketing assets. Using these results, we measured the contribution of organization capital to the conventional TFP growth. The estimation results implied that the growth of organization capital did not have significant effects on productivity growth.
International Competitiveness : A Comparison of the Manufacturing Sectors in Korea and Japan
Kyoji Fukao,Kenta Ikeuchi,YoungGak Kim,Hyeog Ug Kwon,Tatsuji Makino 서울대학교 경제연구소 2016 Seoul journal of economics Vol.29 No.1
Using firm-level data covering most firms in the manufacturing sectors of Korea and Japan, we compiled a new dataset of TFP and factor costs by firm size and industry. Employing this dataset, we quantitatively examine changes in the two countries’ relative competitiveness. Following Dekle, and Fukao’s (2011) approach based on production cost functions, we decompose intertemporal changes in the relative competitiveness of Korean firms vis-à-vis Japanese firms into four factors: (1) differences in TFP growth (catching up of Korean firms); (2) changes in relative factor prices; (3) changes in relative intermediate input prices; and (4) changes in real exchange rates. Using our new dataset, we also compare changes in the two countries’ competitiveness by different firm-size groups. We find that during the period of 1994-2010, the real wage rate of Korean workers doubled in most industries. Nevertheless, the competitiveness of Korean firms relative to their Japanese counterparts did not deteriorate. The main factors canceling out the impact of real wage increases were Korea’s higher TFP growth in many industries such as motor vehicles and the sharp decline in Korean intermediate input prices in some industries such as electrical and electronic machinery. We also find that in many industries the competitiveness of Korean small and medium-sized firms vis-à-vis their Japanese counterparts increased by more than that of large firms. Two important developments can be observed which likely contributed to the improved competitiveness of small and medium-sized firms in Korea vis-à-vis their rivals in Japan. First, in Korea, small and medium-sized firms registered higher TFP growth rates than large firms during 1994- 2010. And second, wage gaps across firm-size groups narrowed in Japan, while they widened in Korea.
Keiko Ito,Moosup Jung,YoungGak Kim,Tangjun Yuan 서울대학교 경제연구소 2008 Seoul journal of economics Vol.21 No.1
Utilizing the firm-level dataset, this study aims to explore differences in firm-level productivity and growth between Japan, Korea, and China. Our main results can be summarized as follows. First, although Japanese firms enjoy the highest average TFP level in many industries, their TFP growth rate has been relatively low during the past two decades. Korean firms have achieved considerable TFP growth in certain industries. The average TFP level of Chinese firms is still much lower than that of Japanese and Korean firms in many industries. Second, within-industry dispersion of TFP levels is very small for Japanese firms. Third, in Korea, the TFP levels of lowperforming firms are approaching those of the national frontier firms at a more rapid pace than in Japan.