bluuebunny/crossref_metadata_2025 huggingface dataset:
Correlation with Corporate Capital Structure and Ownership Structure of South Korea Corporate
Authors:   Asia-Europe Perspective Association, Lee Ji-Won , Oh Sei-Yeol
Published: June 2018

Due to the uncertainty and the globalization of the world capital market, the issues of improvement about corporate capital structure in Korean firms have been carved out as the subject which all firms should urgently promote.
Korea’s lag behind corporate capital structure have appeared to the surface through the foreign exchange crisis, and it underwent corporate structure adjustment on ownership, financial and business structure.
Korea needed to promote corporate value improvement, strengthen business transparency, and reinforce supervision and intervention on managers.
In order to improve corporate capital structure, one needs to understand the close correlation between ownership structure and capital structure.
Prior literature on the mutual relationship suggested that not only does the major shareholder equity ratio influences corporate debt strategy but inversely, corporate debt strategy affects major shareholder equity ratio. However, these studies have not reached a consistent result.
This research verifies three hypotheses based on the term 2002 to 2008. First, I have examined the question whether corporate ownership and capital structures are involved in a mutually dependent, or in a mutually independent, relationship. As a result of analyzing the capital and ownership structure equations in a 2 SLS method, it seems that corporate ownership and capital structures affect each other. Second, I have inquired into whether major shareholder’s equity combines with returns on assets rather than foreigners’ equity to affect corporate capital structure. In a company with good profitability, an increase in major shareholder’s equity acts in effect to increase debt ratio. We can infer that with higher return on assets the major shareholders feel convinced that the company can withstand financial risks and are likely to use more debts based on such belief. Third, I have analyzed the non-linear relationship between major shareholder’s equity and leverage. The relationship between major shareholder’s equity and capital structure is non-linear, and is in the form of a quadratic function.
The limits to this research are as follows. First, the research is limited in the sense that in analyzing corporate debt strategy, the research considered the existence of corporate dividend as a dummy variable, thus not effectively examining the effects of dividend strategy inclusively.
Second, A more meaningful findings will arise from a supplemented study with time series data included time lag which is separate from the variables used in this research, such as control variables and dummy variables.
Sino-African Relationship : Partner for Developmentor 21stCentury Coloniser
Authors:   Asia-Europe Perspective Association, Chun Kwang-Ho , Jang Hyo-Jin , Kim Ok-Ju
Published: June 2018

This paper examines the nature and scope of Sino-African relations at the beginning of the 21stCentury. It examines the history of the relationship in the pre-modern, colonial and Cold War eras, and then considers the modern Chinese use of the political and diplomatic, economic, and military levers of national power. It outlines overall Chinese policy aims in Africa, notably the gaining of diplomatic support, specifically for the continued isolation of Taiwan, and more generally as an alternate focus to the US hegemony. Chinese economic aims, particularly access to resources, notably oil, are examined, as is the generally positive African view of the developing relationship. In conclusion, the paper summarises likely Chinese strategic aims and recognises that the current models for the Sino-African relationship are overly simplistic and fail to allow understanding of its multi faceted nature.
The North Korean Missile Program : Origins, Capabilities and Future Trajectories
Authors:   Asia-Europe Perspective Association, Christoph Bluth Christoph Bluth
Published: June 2018

Ballistic missiles form one of the key elements of North Korea’s asymmetric capabilities. The precise strategy underlying the procurement and deployment of ballistic missiles and the nature of the threat posed by North Korea’s ballistic missiles remains unclear. This paper addresses the following central issues posed by what has been observed about North Korea’s ballistic missile program: 1. How can we assess North Korea’s technological capacity to in develop ballistic missiles? This question arises from the observation that over period of three decades North Korea seemingly developed a significant number of different types of ballistic missiles, based on Soviet technology. Most recently the Nodong-2 and the Musudan were shown at a military parade to demonstrate North Korea’s missile might. But it has become increasingly clear that North Korea relies on very extensive foreign assistance to develop its missiles. The argument developed in this paper is that North Korea for the most part has been a trader rather than a manufacturer of missiles and that it lacks the capacity to develop more advanced rocket motors. 2. What is the threat posed by North Korea’s ballistic missiles? This paper argues that the lack of accuracy and reliability means that North Korea’s medium and long-range missiles only pose a limited threat to South Korea and other countries in the region. This may change if the missiles are used to deliver nuclear warheads, but it will take North Korea considerable time to develop warheads that can be delivered by its missiles. Consequently the development of ballistic missiles that can deliver nuclear warhead at intercontinental range will require technological advances by the North Korean missile complex that are not yet on the horizon. This has wider implications for global ballistic missile proliferation given the reliance of Pakistan and Iran on North Korean technology.
Korean law terms that came from Japanese through the formulation process of temporary, exclusion, single, combination
Authors:   Asia-Europe Perspective Association, Kim Dong-Wook
Published: June 2018

Our social situation change gradually, So we can’t hardly expect perfect law terms from the beginning. The current social situation may be inconsistent with the past social situation that created legal terms. There is a settlement process. Even at this moment legal terms are becoming gradually stabilizing.
There are two kinds of formulation of law terms. The one is ‘temporary formulation’ and ‘exclusion formulation’ that depends on legal effect. The other is ‘single formulation’ and ‘combination formulation’ that depends on language format. This is not a clear distintion and there is no clear boundaries. Even the same law term have different usage in various law sentences. This ambiguous contradictions could not be avoided in a real legal situation.
This contrastive analysis compared Korean and Japanese law term according to following four kinds of classification.
1. temporary formulation (legal effect)
2. exclusion formulation (legal effect)
3. single formulation (language format)
4. combination formulation (language format)
The law term and practical language have been influenced each other for a long time. And they have been formulated gradually. It must be very useful for improvement of Korean law term to contrast with the formulation process of Japanese law term. We can improve Korean law term and sentence depends on this kinds of basic research.
We have to be very careful for the improvement of Korean law term and sentence. At first we need to choose frequently used law terms. It would be almost impossible to change all the Korean law terms that came from Japanese language in Japanese Imperialism Period. But we still have to try it and not to give up. It is our destiny for our real independence from Japanese Imperialism Period.
Theories and Practices in the Translation of Movie Titles
Authors:   Asia-Europe Perspective Association, Sun Bao-Guo , Choi Chang-Won
Published: June 2018

This paper presents the translating characteristics of movie titles. The study of different translating characteristics of movie titles aims at elaborating the most significant characteristic—cultural orientation and its infuence.
The paper starts with diverse theories concerning cultural orientation in the translation of movie titles, on the basis of some experts’ theory and several vivid examples that demonstrate that the translation of movie titles are influenced by many factors, such as faithfulness and commercialization. Among all of them, culture is of great importance. Then, theories are discussed with examples to show the four components of cultural-orientation, including different values and aesthetic inclination. Different translating techniques are further introduced in the translation of movie title.
In conclusion, after introducing that translators should not copy the original rigidly but to dig cultural factors, the paper presents the crucial role cultural factors play in the process of translating movie titles. Only taking into account differences of values, aesthetics, cultural connotation and ideology, using techniques of transliteration, literal translation, and free translation, can we realize the creative fusion of the eastern and western cultures and produce excellent translations.
Movie is a form of art and of cultural communication in a popular style. A movie's title is its eyes. To a dubbed film, movie title is especially essential. Many people may believe that the translation of movie titles is a trivial matter, however, as a unique text of linguistic performance, it can also reveal the cultural concept and value inclination of the whole society, and the different ethnic aesthetic attitudes .
From many of the factors mentioned above, cultural orientation is definitely of great importance. China has a broad and profound history, while America is called “melting pot” with the characteristic of learning widely from others. Chinese culture is implicit and American culture is straightforward. Translation, as a cross-cultural communicational bridge, is not a work of translating languages themselves, but to translate two cultures.
Movie titles have the characteristics of short, concision and generality. The process of translation requires consideration and polishing of the original text over and over again to make an astonishing effect. Consequently, the translation of movie titles is no easy job. Translators should not copy the original rigidly. Instead they should give consideration not only to the principle of commercial value, but also to culture-oriented factors. Only taking into account differences of values, aesthetics, connotation and ideology, using techniques of transliteration, literal translation, and free translation can we realize the creative fusion of the eastern and western cultures and produce excellent translations.
The 18th Central Committee of Chinese Communist Party: Advent of ‘Generalist Cadre’ era
Authors:   Asia-Europe Perspective Association, Joo Janghwan
Published: June 2018

This study has twofold aims. The first is to analyze the characteristics of the 18th central committee of CCP; the second is to argue the second elite transformation, from technocrats into Generalist Cadre, in China.
Generalist cadre has the characteristics that has studied social science or liberal arts and has worked in the party or governmental organizations. It has risen as major type at this period. The rise of this type of elites means China has entered the new era through revolutionary and industrialization era. Generally, the revolutionary era needs the “Lion”, and the industrialization era needs the ‘Fox’ type of Elites. So the generalist cadre has the characteristics of generalist rather than specialist, populist rather than elitist.
In section 2, specially, this study tries to identify the conception of new major elite type in China. Specially, it explores demographic and socio/political characteristics of members of the 18th central committee of CCP in the first stage. This study has discussed about the transformation of elites type in China, in section 3. And then, in the conclusion, it discuss about the new type of Chinese political elites. As a result of this study, the major type of Chinese political elites has been transformed technocrat into generalist cadre.
This study has used the date set, comprises the full and alternative membership of central committees, from the first (1921) to the eighteenth (2012).
The Chronicle of German Electoral System: Politics of Institutional Evolution
Authors:   Asia-Europe Perspective Association, Hong Jaewoo
Published: June 2018

This study explores the historical development of German electoral system from 1871 to 2013. Changes of electoral institutions like other political institutions have been explained through the game theoretical behaviors of political parties and other political actors to secure or expand their political interests or other social needs or public movements to realize public interests. Both approaches are not enough to explain total stories of institutional changes.
The paper argues that certain changes of environment that nullify the “status quo” have played significant role creating new institutional arrangements. Political institutions are not just inventions of one-time compromise, but they evolved whenever certain environmental changes provide critical chances along with other elements.
The World War I and II made such effects to have Germany design and adopt pure PR and mixed electoral systems respectively. The exogenous shocks create new games by giving new incentive structures and at the same time uncertainty. The electoral systems in Germany were the results of those changes. Nonetheless, path-dependency has also done its effects on political groups’s choices by providing limited alternatives. The left, SPD had favored PR systems while the Right had wanted more majoritarian systems.
After 1947 it had taken 10 years until Germans finally institutionalized their own electoral system so-called Mixed-Member-Proportional Representation system with two ballots. Since then without significant exogenous shocks, there has been no critical change in basic institutional structure while some adjustments like the total number of seats and electoral formulas have been applied.
Recently, however, there have been meaningful changes in German electoral system. But it has not been from the inside legislature but the outside player that reacts to public interests like the principles of democracy. The decisions of German Federal Constitutional Court have compelled the political parties to revise the electoral law for enhancing more democratic principles. The court decided that the previous electoral system was unconstitutional for its negative-vote weight phenomena. The legislature had to alter the law twice facing the court’s multiple decisions. The new system changed the order of seat distribution process and introduced “adjusting seats” to remedy the problems of disproportionality that overhang seats had created. In 2013 election, the new system was successfully functional to control those problems, but a new concern has arisen. FDP’s failure to enter the House caused the ever-highest disproportionality since MMP was introduced in the middle of the last century. New challenges may require another institutional reform.
The German MMP system is not invented by one elaborate design endeavor; rather, it has evolved under the changing circumstances and new socio-political demands.
A Typological Analysis of Urban Industry using Efficiency Analysis and Malmquist Productivity Index : A Comparison of Busan and OECD for distribution industry
Authors:   Asia-Europe Perspective Association, Yoo Youngmyung
Published: June 2018

Domestic distribution industry began later than in the United States and Japan. However, the development speed is very fast. But the domestic distribution industry percentage of national economy appears to be relatively low compared to other OECD countries. This phenomenon is judged to appear due to the restructuring caused by increased efficiency and business scale reduction caused by slow growth.
In the process of those changes, disproportionately compression growth caused by choice and concentration growth made the main production factors concentrated in the metropolitan area, economic polarization has become a serious problem and local economic difficulties were aggravated due to underdeveloped industry structure. Since the 1960s Busan have made economic growth based on export-oriented light industry , but in 1970 the economic structure transformed into the consumption-led service economy. In order to solve these problems, it is needed to analyze the regional industrial structure and suggest various means to improve the local economic fundamentals.
This study evaluate the CCR and BCC efficiency of distribution industry in Busan. And we estimates changes in the total factor productivity and technical efficiency change index and the technology development index using the Malmquist productivity index of distribution industry in Busan over the time period spanning 2006-2011. The model considers employment, cost of sales and gross area as input factors, and sales as output factors.
This study analyzes the regional distribution industry regional imbalances is reflected in significantly with a large proportion of local industry. Finally measures to enhance the competitiveness of industry is proposed based on the industrial classifcation according to the result of efficiency and productivity level.
Specifically, combining the total change in productivity from 2006 to 2011 in the past six years with the relative efficiency based on CCR and BCC models, we can divide the local retail industry into six regions and derive the policy implications. In conclusion this type of industry classification matrix can be applied to many other iurban industries and used as a criteria necessary for the long-term industry development plan.
Taking the Long Way Home: Europhilia and Cosmopolitanism as a Critique of Tradition in Yi Hyoseok’s Literature
Authors:   Asia-Europe Perspective Association, Steven Capener Steven Capener
Published: June 2018

Yi Hyoseok(1908-1942) was an unapologetic lover of classical western high culture. He was also a modernist who contributed a great deal to the formation of Korea’s modern literature, leaving behind a substantial legacy of fiction, essays, and poetry. His unabashed admiration of western (particularly that of Europe) culture brought him a great deal of critical excoriation due to the perception that he lacked “historical consciousness.” The eminent scholar of Korean literature Gim Yunshik, after leaving Yi out of his comprehensive treatment of Korean Literature titled The History of Korean Literature, wrote a lengthy tract on the “pathological” nature of Yi’s writings, claiming that Yi was incapable of literary creation without imitating that of the West. What was unacceptable to nationalist scholars was the perception that Yi was choosing another tradition over that of his own. In fact, this in essence is what he was doing. His training in English literature at Keijo Imperial University provided him with a cosmopolitan worldview that shaped both his literary and everyday aesthetics. Moreover, his Europhilic aesthetics provided him a standard with which to level a critique against East Asian and Korean civilization. This paper examines Yi Europhilic and cosmopolitan aesthetics in the dual context of their reception by Korean nationalist scholars and their significance as a critic of the Korean tradition as well as manifestation of universal humanistic values.
The Limitation of the EU’s External Policy in the Framework of Central Asian Policy
Authors:   Asia-Europe Perspective Association, Yoon Sungwook
Published: June 2018

Interests in energy resources and geopolitical importance have recently concentrated many countries’ attention on Central Asia. In particular, Russia, China, EU and the US take on a competition phase in order to increase its own influence in this region. While the EU which is geographically adjacent and has experiences to help Eastern European Countries’transition is likely to have relative advantages compared with other competitors. the EU’s influence in Central Asia has been limited. From this perspective, the purpose of this paper is to explore the reasons for the EU’s limited role in Central Asia. The EU and Central Asia need to strengthen their cooperative relationship in a strategic sense. The Central Asia’s cooperation is necessary for the EU in terms of diversification of its energy supplier and regional security. Central Asian countries need the EU’s engagement in regional and domestic problems such as poverty reduction, diversification of trade, promotion of investments, and regime transition. Since Central Asian countries were independent after the collapse of the Soviet Union, the EU set up the external policy towards Central Asia. However, the EU’s new strategy adopted in 2007 became a turning point in terms of the EU’s strategy towards Central Asia. While 2007 strategy paper specifies the EU’s strategic purpose and suggests cooperations in various areas, the EU still shows its difficulty to enhance its role and influence in Central Asia. The first reason is the structural problem the EU embraces in decision-making procedures and implementation of external policies. In addition, this paper argues that the EU’s strategy towards Central Asia has its own problems. The EU needs to consider what Central Asian countries want from the EU and to realize the gap between what the EU can do in practice and what the EU wants to do in rhetoric. With the clarification of the EU’s interests, purposes and strategies in Central Asia, the EU needs to find a way of balancing between the values the EU pursues such as democracy, human right, and rule of law and the practical interests of diversification of energy supplier. The discussion in this paper could also provide policy implications on ‘Eurasia Initiative’ project.
The study of the cultural factors influencing on information ethical decision making : Difference between Europe and Asia
Authors:   Asia-Europe Perspective Association, Park Jae Hyun , Chai Sang Mi
Published: June 2018

The purpose of this paper is to explore how national and organizational diversities have effects on an individual’s information ethical decision makings. More importantly, this research investigates the impact of cultural difference on individual’s information ethical decision makings in the context of specific circumstances.
To examine the relationship between users’ cultural backgrounds and their decision making related with information ethical situations, this study applied two specific scenarios which represent national and organizational cultural settings. Based on extensive open-ended paper-based interviews from 84 information system users, this study found out that users’ decision making on information ethical situation is influenced significantly from their nationality as well as organizational policies.
In addition, this study also uncovered out that users’ decision makings regarding information privacy invading situation are varies based on users nationality. While most of European respondents value more on individual information, Korean users yield their personal privacy to an organizational benefits.
According to our research results, organizations have more influence on Koreans’ decision making in information ethics comparing with Europeans. In other words, the foreign information system users, especially European, put more value on their privacy and individual information than on the organization’s protocol. Therefore, this research provides evidences that cultural background plays a significant role on affecting information ethical decision making and users’ information ethical decision are differentiated by their ethical standards as well as cultural differences. When users make information ethical decision, Koreans consider their organizations as well as organizational culture as a priority; however, Europeans consider their personal ethical standards more than organization’s situation.
Since there is no research empirically examined the role of cultural differences on information ethics, this study has significant contributions on both of academia and industries as an first empirical research on cultural background and information ethics.
Frist, this study represented the direction of reflecting Korean and Asian perspective regarding studies of information ethics instead of focusing on Western. Second, it helps managers to understand information ethic policy and make a rational decisions based on understandings on cultural difference. It also provide opportunities of emphasizing the importance of recognizing the information ethics and considering cultural difference on information ethic recognition and global information society.
Effects of Complex Cultural Space on Number of Visitors in Art Museums
Authors:   Asia-Europe Perspective Association, Kang HanYi , Kwon Kyoung-Min , Shin Hyung-Deok
Published: June 2018

This study extended the literature on complex cultural space and empirically examined the effects of the existence of complex cultural space in art museums on the number of visitors. Recently, art museums are struggling to attract visitors by making multi-purpose spaces in the boundary of museum in the sense that they could serve visitors in various ways in addition to exhibiting and showing contents. Thus, research on the effects of this kind of complex cultural space would be necessary and this study was performed to respond to this quest. First, this study found 145 art museums listed in Cultural Facility Yearbook published by the Ministry of Culture, Sports and Tourism in 2012, and we used 129 art museums with the information of the usage of their space on their webpages for this study. We found that museums, parks have positive and significant effects on number of visitors. However, theaters and cafes had no such positive effects on the number of visitors. This result implies that cafes, seemingly most popular complex spaces, did not actually help attracting visitors to art museums, but more art-related facilities such as museums may work better. This may be because cafes outside museums can substitute for cafes inside art museums, but museums inside the art museums can be substituted from nowhere. This study contributes to art museum management area in that art museum should focus on art-related functions when they consider utilizing additional complex cultural space .
A Comparative Study of Women Friendly Workplace: Focused on Korea, China and Japan
Authors:   Asia-Europe Perspective Association, Kim Heonggil , Li Jinxi Michelle
Published: June 2018

Advanced countries have adopted ‘women-friendly work practices’ on the belief that such practices would be beneficial to both organizations and their members. A lot of empirical research has proved the better job attitudes and corporate performance among the organizations adopting ‘women-friendly work practices’ than the organizations without such practices. In spite of the progress in ‘women-friendly work practices’, female workers are still facing setbacks in the workplace due to gender discrimination. There is still a gender divide especially in the Asian workforce with women dominating the fields of clerical, service and healthcare. Around the world, women on the whole earn less than men. According to research, women place a higher importance on family-friendly or work-life benefits than men do. The research also indicates that onsite child care, before and after school programs, job sharing, and flextime are important benefits for employees with children.
United States and European countries have adopted ‘women-’ or ‘family-friendly work practices’ since 1980s. These advanced countries have enacted laws to encourage organizations to adopt such practices, and thus made a certain achievement in raising the birth rates. There was a ILO Convention for the Protection of Female Labour beforehand. This convention ensures gender parity in status and rights, and it also pursues protection and development for female labors.
This study is more about improving organizations’ performance and competitiveness through ‘women-friendly work practices’ and less about social justice, ethics or legislation pertaining to gender parity. This study aims to 1) identify the definition and objectives of ‘women-friendly work practices’; 2) investigate various aspects of women-friendly workplace; 3) examine how the practices contribute to organizations’ performance and competitiveness; 4) compare the business cases for ‘women-friendly work practices’ among Korea, China and Japan; 5) thereby propose a corporate culture model of ‘women-friendly work practices’ for the 3 countries that share a common social and cultural background; 6) identify some ‘women-friendly index’ thorough the model of ‘women-friendly work practices’, and finally suggest some measures to develop women-friendly programs and to improve organizations’ performance and competitiveness through ‘women-friendly work practices’. Literature review and case studies were conducted to achieve these research objectives.
In conclusion, the sustainable development of women-friendly programs or practices should be encouraged and supported not only as a matter of public policy but also as a matter of business strategy.
The Implications of Dong Yang Group Insolvency Crisis on the Protection of Financial Consumers and Credit Environments
Authors:   Asia-Europe Perspective Association, Pak Dohyun , Cho Hong Chong , Binh Ki Beom , Jeon Cho Ran
Published: June 2018

We should remember Dong Yang group bankruptcy crisis occurred at the end of 2013. It highlights the importance and state of financial consumer protection in Korea once more. It is so much worse than the bankruptcy events such as Saving Banks, LIG and Woongjin group. Financial authorities did not carry out their proper roles in financial consumer protection as well as in supervision of securities issuing firms and underwriting financial institutions. Even ex-post several actions of the authorities, the economic damage of the financial consumers as capital suppliers was so enormous to amount 3-4 trillion wons.
The monetary and financial system would be a kernel infrastructure supporting the capitalistic market economy. The fundamental principle how the system works is the only “credit”. The credits, i.e., faiths and trusts allow the money circulate overall economy. As financial and commercial transactions are established under credits between counterparties, the economy evolves and grows. So, even if the normal system where credist work gets damaged slightly, the whole economic system would collapse in an instant. The disruption of credit means or causes the overall financial crunch crisis. Serious credit crunch would surely cause the economic slump or recession. Such credit that plays a major role comes from the households, i.e., financial consumers in the economy.
Financial consumer protection is an invaluable asset for us to achieve the development and growth of our economy. Financial institutions and businesses as well as in particular the financial authorities should thoroughly recognize the importance of credit guard and financial consumer protection. Moreover, the first step for credit preservation is to protect the financial consumers who account for a half in financial market and industry.
In addition, we should discuss (i) the separation of finance and industry capital, (ii) tight regulation for incomplete sale of financial products by financial institutions, and (iii) ex-post severe punishment for financial crimes with the Dong Yang crisis in mind. Finally, the reforms of the financial authorities are very urgent matter.
An Asymmetric Nature of the VKOSPI Index
Authors:   Asia-Europe Perspective Association, Cho Joung Keun , Choi Woo Suk , Choe Kang Suk
Published: June 2018

For the KOSPI200 Index (“Index”), a negative and statistically significant relationship exists between the returns of the Index and VKOSPI, the official model-free implied volatility index. The primary research purpose is to test VKOSPI as an informative and meaningful trading indicator.
The authors reorganized the data sample into 3 sub-periods: (1) Falling Risk-Aversion Regime: From January 2, 2003 to December 28, 2007 (P1) of pre-global financial crisis period of a declining VKOSPI, a positive market return and relatively small VKOSPI fluctuations. (2) Rising Risk-Aversion Regime: From January 2, 2008 to December 29, 2011 (P2) as the period of elevated VKOSPI and market stress. Steady risk-Aversion Regime: (3) From January 2, 2012 to May 29, 2015 (P3) a very low, consistent VKOSPI with mediocre market returns, especially in Korean equities.
Two types of asymmetric relationships exist; (1) negative stock index returns yield larger impact in VKOSPI than positive returns do, (2) VKOSPI has a larger response to negative Index returns during a steady risk-aversion and stable market return period. Specifically, this happens when market participants tend to become more sensitive to substantial bearish market movements. Market participants subsequently become more sensitive in pricing them into the expected volatilities than in periods of rising risk aversion.
An Analysis of a Trade Case of Korea-EU FTA
Authors:   Asia-Europe Perspective Association, Park Jung-Ji , Shin Jung-Soon
Published: June 2018

This paper examines the FTA effect after Korea-EU FTA, especially focused on the trade and foreign direct investment. Korea’s economy is driven largely by exports and import, and Europe is a major market for Korean goods. Korea has a high level of dependence on exports[trade]. Korea’s trade to gdp ratio is 49.96% in 2008, 55.74% in 2011, 53.92% in 2013. And Korea’s export/import to GNI ratiois 78.7% that rate is far higher than other advanced countries such as the United States (18.2%), Japan (30.1%) and Germany (73.8%). This study argues that have to pay attention to the strengthening the competitiveness of exports and trade for Korea’s economic growth.
In this respect, Korea has emerged as a country speeding up the Free Trade Agreement partner compare with other asian countries, such as china and japan. The both government hope to relieve the trade imbalance between the Community and trade partners after FTA going into effect. In Korea some non-tariff barriers exist about market access, direct investment and trade in service. The Free Trade Agreement eliminates duties for industrial and agricultural goods in a progressive, step-by-step approach. The Korea-Chile FTA went into effect on April 01, 2004. After then FTAs with Singapore, EFTA, ASEAN, India and Peru, EU and US entered into force.
Korea’s Export and Import over a span of six years around the two sides struck an agreement in 2010. We can find Eropean Union is Korea’s largest export and import market outside Asia and Middle East. We can noticed important relationship between the EU and the South Korea in trade activities. Therefore, this study is a case study of how did it influenced impact on trade flows after the FTA between Korea and EU.
Korea-EU FTA Progress. The Korea-EU FTA is between Korea and the European Union, its member states. The negotiations began May 2007 and initialed 15 October 2009. The agreement has been provisionally applied since 1 July 2011. Import duties are near eliminated on all produce and there is deep liberalisation in trade in services.
Those barriers be relaxed through Korea-EU FTA and as expected the foreign direct investment from EU and other developed countries increased. In the initial period after FTA, Korea currently has comparative advantage on EU’’s products in EU market, but it is possible for Korea to lose its current competitiveness over them. So the Korean government needs to establish specific direction to improve industries for trade.
The Effect of Wage on Job Turnover of Social Workers
Authors:   Asia-Europe Perspective Association, Lee Dongha , Woo Seokjin , Kang Hyun-Ah , Chung Ick-Choong , Nho Choong Rai , Chun JongSerl
Published: June 2018

This paper estimates the impact of wages of social workers on their turnover decisions. This paper improves on the existing literature in that we focus on the turnover decisions directly rather than the intentions. Using the Graduates Occupational Mobility Survey 2009, we analyze how long the 276 social workers who grauate from at least 2 year college or more remain in the first jobs. First, we estimate the Kaplan-Meier survivor function for the duration during which the social workers work in their first job, considering that the observed duration might be right-censored. In regression analysis, we estimate the Cox’s proportional hazard model as a function of the logarithm of wage, age, years of schooling, employment status, marital status, social work major, number of workers in the facility, and region fixed effects.
The average duration of the college-graduate social workers until the first job turnover is around 33.42 months after considering the likelihood of right-cernsoring. The non-parametrically estimated Kaplan-Meier survivor function reveals that the survival rate tends to drop to 0.75 at around three years and plummet down to 0.1 after four years.
In order to investigate how the wage affects the turnover decision of the social workers, we estimate the Cox propotional hazard model with constant baseline hazard rate. The estimation results show that the wage elasticity of the hazard rate of the job turnover is around -0.712 and it is satistically significant. In other words, as the wage increases, the social workers tend to stay longer in the first job. More specifically, the wage elasticity of the job duration is exactly 0.712. 10 percent increase of wage leads to longer job duration by 7.12 percent on average. The magnitude of elasticity is inelastic and smaller than the of child-care teachers. Except the wage, other factors turn out to be statistically insignificant.
Effects of Prior Trial-based and Achievement-based Cultural Experience on Cultural Experience Intention
Authors:   Asia-Europe Perspective Association, Choi Byul Cho Rong , Shin Hyung-Deok
Published: June 2018

This study examined the impact of prior cultural experience, as cultural capital, on cultural experience intention. More specifically, we divided cultural experience into trial-based and achievement-based ones, and tested if each type of experience has differential impacts on different types of intention. Bourdieu(1986) classified cultural capital into embodied, objectified, and institutionalized cultural capital which are mostly inherited from parents in specific social classes. This classification, however, can be properly applied when cultural genre, such as noble or popular culture, is clearly distinguished and social change is not occurring very fast. On the other hand, due to very fast technological advances and convergence of cultural areas, traditional cultural heritage concept may not be proper nowadays. Instead, it would be possible that personal cultural experiences become cultural capital, and cultural capital in turn leads to cultural experience intention which further expands to accumulate more cultural capital This study investigated the relationship between prior cultural experiences and cultural experience intention to confirm the logic above. More specifically, we used the survey data from 4,735 respondents at The Survey Report on Cultural Enjoyment published by Korea Culture and Tourism Institute. As a result, we found that while prior trial-based cultural experience has positive impacts on both trial-based and achievement-based cultural experience intention, achievement-based cultural experience has a positively impact on achievement-based cultural experience intention only. This result implies that cultural education policy need to focus on diverse and general cultural experiences for young students rather than specialized expertise and skills.
The Effect of Asset Revaluation on Audit Report Lag and Management Discretionary Report Lag
Authors:   Asia-Europe Perspective Association, Bae Chang-Hyun , Woo Yong-Sang
Published: June 2018

Fair value evaluation is adopted over K-IFRS adoption. Especially, fair value evaluation model can be used on property, plant and equipment. Companies tried to improve financial condition like lowering debt ratio using asset revaluation when asset revaluation was allowed by Asset Revaluation Law during 1958～2000. However, Asset Revaluation Law was abolished after 2000. Asset revaluation was permitted again when K-IFRS was adopted.
This study is an empirical study that analyzes the meaning of asset revaluation to auditor and information users. Many previous studies about asset revaluation suggest that asset revaluation is used as a way to improve financial condition(Song et al., 2011; Chung and Kim, 2015). However, Kim and Woo(2016) insist that asset revaluation relieves information asymmetry. If an executive uses asset revaluation as a way to improve financial condition, auditor would regard asset revaluation as a factor which increases audit risk. Because improvement of financial condition by asset revaluation doesn’t come from business improvement but from revaluation surplus, it is likely for auditor to regard asset revaluation as an executive’s discretionary action and to estimate audit risk high. Thus, audit report lag is likely to become longer. However, if auditor considers that asset revaluation can relieve information asymmetry, auditor would not consider asset revaluation as a factor which increases audit risk and try to provide accounting information to users earlier. Therefore, audit report lag might decrease. According to previous studies, investors consider asset revaluation positively(Kim et al., 2011; Yoo et al., 2012; Yang and Shin, 2013). Because executive prefers disclosing financial statements which include asset revaluation earlier, management discretionary report lag might decrease.
The empirical results are as follows. First, we find that asset revaluation decreases audit report lag. This result suggests that auditor considers that asset revaluation relieve information asymmetry and have an incentive to decrease audit report lag. Second, there is no significant association between asset revaluation and management discretionary report lag. This result means that because auditor reduces audit report lag sufficiently even though asset revaluation relieve information asymmetry, there is no incentive for executive to reduce management discretionary report lag additionally.
The contribution of this study is to provide an empirical evidence about whether auditor regards asset revaluation as a factor of which increases audit risk by examining auditor’s response on asset revaluation. This study also provides additional evidence about the meaning of asset revaluation by analyzing empirically on how executive behaves after external audit procedure in case of asset revaluation.
The success condition of the Presidential leadership in a transitional period
Authors:   Asia-Europe Perspective Association, Lee Hyunchool , Kim Youngsam
Published: June 2018

The purpose of this paper is to analyze the success conditions of Presidential leadership in the turn of the century based on ‘circumstsnces-based qualities’. The paper suggests the qualities of a leader are their vision, public communication, state administration capacity, political skill, empathic civilization, etc. The importance of politics has become more urgent in the strict domestic and international political climate, which makes the role of leadership more important than ever. In a time of political division, decisiveness and the ability to persuade constituents are key to implementing policies effectively. This requires the leadership ability of a president to be able to persuade and negotiate with the people in order to convince them to follow a given course, which is often times met with opposition. In this respect, bold leadership is required in the transitional period.
It is difficult to explain the leadership needed for the transition period like today with only the leadership style or qualification emphasized in existing leadership generalization theory. In general, emphasizing “universal qualities” neglects the “situational qualities” that require the virtues and qualities of leadership to match the times of a particular president. In order to overcome these limitations, it is meaningful to seek strategic conditions to exert effective leadership in the domestic and external contexts in which we operate.
Faced with a security crisis stemming from the emerging Northeast Asian international order and the North Korean nuclear crisis, the public realizes the need for leadership capable of coping with domestic and international challenges. Domestically, it is also a very important task to establish national social integration system by establishing institutional apparatus that guarantees social stability through supporting those of high financial need. This much be accomplished by establishing minimum social safety net for the people who fall behind in competition in the deepened polarization society after neoliberalism. The need for competent political leadership to demonstrate the ability of the state to adjust to higher security, social and economic areas is higher than ever before.
Direction on the Technology and Management Innovation of the S & M Firms
Authors:   Asia-Europe Perspective Association, Yoon Deok-Byeong
Published: June 2018

Now large corporations, government·and citizen are required to pay attention to S&M Firms so that S&M Firms would develop to global corporations not inferior in technology and management innovation rather than protection oriented support. The large corporations as the partner shall implement Win-Win·transparent management against S&M Firms. Also, the government shall provide drastic support so as to provide wings to the horse meaning S&M Firms with technological power. Currently, we are experiencing very difficult economic reality. In this case, painful efforts are desperately need to enhance productivity through S&M Firms’ technology development and grand innovation on overall management. These days, the weight of S&M Firms occupied in a national economy is very high in every country. Hence, sometimes the differentiation between advanced countries and emerging countries is made based on the level of perception on S&M Firms, development level or competitiveness of S&M Firms. The reason whey S&M Firms shall be perceived as important are mainly as follows;
Firstly, S&M Firms are the engine of economic development. In any country, high weight of S&M Firms is very important in the aspect of production, employment and income distribution. These roles ultimately create the middle class in a country, taking the role of most important stepping stone for national development.
Secondly, S&M Firms enhance the industrial relationship. Smooth ties and role sharing with large corporations by S&M Firms enhances the spreading effect from front and rear within an industry, and induces synergy effect. Hence, competitiveness of large corporations is dependent upon the level of S&M Firms.
Thirdly, various consumption desires are satisfied. S&M Firms perform the role to respond promptly to the desire of consumers under diversification of modern society, individualization and specialization by small quantity batch production and flexible organization.
Fourthly, S&M Firms enable fostering of materials and component industry, improving the national balance of payment internationally. In a single country, the development of materials, components industry not only enhances the industrial competitiveness, but also enhances the competitiveness of completed product produced by domestic large corporations, and promotes export of components, thereby improving the balance of payment.
Furthermore, S&M Firms may promote balanced technology development within the whole industry, can absorb excess labors. Also the role sharing function within the industry is another important area for contribution.