Purpose – The purpose of this paper is to analyze the mediated moderation role of foreign direct investment inflows (FDI), along with technological innovation (TI), in the relationship between investment in human capital (IHC) and the green economy, which is often ignored in current literature. Design/Methodology/Approach – In order to estimate the mediated moderating effect of TI and FDI on the nexus of IHC and the green economy, we use principle component analysis (PCA) to create a green economy index (GEI) by first selecting 15 relevant variables. Furtherly, the data analyzed covers 33 OECD nations from 2005 to 2018 using a Generalized Method of Moments (GMM) model. Findings – This paper demonstrates that while FDI positively moderates the relationship between IHC and the green economy, the positive role of FDI can be hindered by TI as a mediating variable in OECD countries. The empirical result reveals a U-shaped association between IHC and the green economy. Moreover, we also explain the joint effect of FDI and IHC on TI in OECD countries. FDI shows a negative role in the impact of IHC on TI. Research Implications – This paper puts forward dialectical thinking to view the impact of human capital investment on the green economy, and suggests that governments should view role of IHC in the green economy dialectically, plus adequately utilize its promotional role to address associated risks. The findings can support decision makers in how to use IHC precisely to achieve the goal of sustainable development.
Purpose – After breaking the three-year hiatus in medical tourism due to COVID-19, the medical tourism industry is looking forward to reopening. This study conducted an empirical study on the importance and performance of medical tourism service quality to provide implications in accelerating the revitalization of the medical tourism industry. Design/Methodology/Approach – Existing studies related to the service quality of medical tourism have been conducted mainly targeting foreign patients. In order to balance this point of view, 50 medical tourism employees in Bucheon city were set as targets. Then, IPA analysis on medical tourism service quality was conducted. Findings – The medical infrastructure and system, intensive service for foreign patients only, and professional manpower have excellent service quality, and areas to be improved are the foreign patient telemedicine system of the medical system and the foreign language homepage of the service system. In order to revitalize medical tourism, it is necessary to consider priorities in the relevant areas. Research Implications – This study is meaningful as data for comparison with previous studies on medical tourism service quality before COVID-19. In addition, research on service quality for medical tourism employees was conducted to balance the implications of medical tourism research.
Purpose – This study analyzes the relationship between asymmetric cost behavior and greenhouse gas (GHG) regulation. This study examines cost behavior for cost of goods sold (CGS), selling, general and administrative cost (SG&AC), general and administrative cost (G&AC), and selling cost (SC). Design/Methodology/Approach – This study analyzes companies listed on the Korean Stock Exchange (KSE), and the analysis period is from 2011 to 2020. The sample taken for this study includes 5,120 firmyear observations. Findings – The main results are as follows. First, we find that when sales are decreased, the downward stickiness of CGS is accentuated in firm-related GHG regulation. This is interpreted as an increase in committed cost as much as idle resources due to an increase in facility investment to reduce GHG emissions. Second, this study demonstrates that the accentuation of the downward stickiness of CGS and G&AC by GHG regulation mainly occurs in owner manager firms. This study is the first in which GHG regulation affects asymmetric cost behavior. Research Implications – The results of this study will contribute to the development of corporate climate change strategies and government GHG regulation policy. This can provide a basis for market participants, such as financial analysts, in predicting the effect of GHG regulation on firm performance.
Purpose – The purpose of this study is to suggest implications after analyzing Eiser v. Spain, and the impartiality and duty of disclosure of arbitrators in ICSID arbitration. Design/Methodology/Approach – In this study, in analyzing Eiser v. Spain, the literature analysis was mainly conducted using domestic and foreign related literature and Internet data. Findings – In 2017, Spain was ordered to pay Eiser €128 million on account of its failure to afford fair and equitable treatment. This award was subsequently annulled because the claimant-appointed arbitrator failed to disclose a professional relationship with the claimants’ damages expert, which led to, inter alia, the tribunal being improperly constituted. The full costs of the proceedings, including Spain’s legal fees and expenses, were shifted to Eiser. Research Implications – The Eiser Annulment Decision also casts doubt on the effectiveness of disclosure duties. Undisputedly, arbitrators must be neutral and must disclose facts or circumstances that may cloud their judgment. Many codes and rules specify that this duty is continuous. Yet, the vast majority of these instruments envisage no consequence for non-disclosure. This, coupled with the fact that arbitrators enjoy immunity from legal process pursuant to Article 21 of the ICSID Convention, leaves room for nonchalance when disclosing potential conflicts.
Purpose – The purpose of this paper is to analyze the green contradiction between China’s NEVs subsidy policies and WTO rules. It proposes resolutions for China and South Korea from the perspective of GATT Article 20 and the US New Climate Bill. Design/Methodology/Approach – Based on the investigation of NEVs in the market, this paper finds that relevant effective subsidy measures can promote China’s NEVs development. Moreover, through case study and literature, this paper also analyzes the compliance of China’s NEVs subsidy measures under the SCM Agreement. Finally, it puts forward relevant implications for the NEVs development of China and South Korea. Findings – This paper studies credit preference, financing support and LCRs, which may be determined to be prohibited subsidies and production subsidies, Tax incentives and price support may be determined to be actionable subsidies. Subsidies for specific NEV enterprises or regions may be deemed to de jure or de facto specific subsidies with disordering global trade order. Research Implications – This study has far-reaching significance in promoting the reform of WTO related- subsidy regulations and formulating a special RE subsidy agreement under the multilateral trade system, which will resolve the conflicts of the environmental and energy trade under the background of low-carbon energy transition.
Purpose – This study aims to analyze the impact based on the latest Technical Barriers to Trade from the Chinese government in the cosmetics industry, which is heavily dependent on exports to China, and discovers estimated difficulties to continue imports under new regulations. Design/Methodology/Approach – This study compared the cosmetic regulations and import standards of three major cosmetic importing countries. It was conducted through a literature review, especially in new regulations, Cosmetics Supervision, and Administration Regulations from China. Findings – First, it highlighted the challenges that Korean exporters face due to the different regulatory standards for cosmetics in different countries. The new ordinances required excessive information disclosure, product efficacy evaluation reports, and localization using only Chinese local laboratories. These requirements could cause duplicate inspections, leak core technology, and hinder the technological development and quality improvement of the cosmetics industry. Lastly, the absence of clarity on the basis and standards for protecting the safety data of cosmetic ingredients adds to the registration burden for companies to continue exporting. Research Implications – Korean cosmetics exporters are firmly positioned in the Chinese market with experience and world-class technology, but new Chinese Cosmetics Supervision and Administration Ordinance may impact export values. However, there is currently insufficient data to measure the impact of the ordinance. To become the world’s top cosmetics exporter, the Korean cosmetics industry needs a gradual approach to resolve China’s import regulations, and close cooperation between exporters and government agencies is essential. Future analysis may be possible with more quantitative data.
Purpose – The purpose of this study was to provide a systematic technique for building a blue ocean strategy for residence hotels using research methodologies on customer satisfaction aspects in marketing on a strategic canvas and an ERRC matrix. Design/Methodology/Approach – To do this, we conducted a survey among hotel visitors using questionnaire items and a self-administered data collection approach, with each item scored on a 5-point scale. Judgment sampling was utilized as the sample method. We then used the survey responses to generate an ERRC matrix using IPA analysis. Findings – According to the ERRC table, hotel attributes that fall under the Raise category include “cleanliness of rooms”, “hotel location”, and “cultural and convenience facilities around the hotel”. Hotel attributes in the Reduce category include “diversity of food and beverage outlets” and “interior decoration and design”, whereas hotel attributes in the Create category include “cultural events”, “creating cultural streets”, and “a family-friendly atmosphere”. The use of the survey results-based Blue Ocean Strategy in the formulation of innovation strategies can provide managers evaluating creative strategies and strategic generating approaches with objective and detailed suggestions. Research Implications – In the Create category, hotel attributes include “cultural events”, “creating cultural streets”, and “a family-friendly atmosphere”. This indicates that, in order to attract and maintain clients, residence hotels might separate themselves from other hotels by generating demand through the development of local cultural streets. Above all, it is vital to sell not only hotel rooms but also a warm and cozy environment reminiscent of a home.
Purpose – The purpose of this study is to analyze the impact of official export finance supported by the Export-Import Bank of Korea on Korea's exports. In particular, in order to differentiate from previous studies, the detailed size, as well as the long-term and short-term effects of export financing support on exports, were analyzed. Design/Methodology/Approach – In this analysis, an Export Demand Function Model was introduced. Prior to the empirical analysis, a unit root test and cointegration test were conducted. As a result of the pretest, it was found that the variables included in the analysis were I (1), and the cointegration vector did not exist. Based on these results, a Vector Autoregressive (VAR) model was established. Findings – As a result of estimating the impulse response function, it was found that when an official export finance shock was applied, exports gradually increased from the time of the shock to the third period, and then the increase slowed and converged to zero. As a result of the variance decomposition analysis, the export financing support amount began to show explanatory power in export fluctuations from the second period, and showed about 2.5% explanatory power from the third to the tenth period. Research Implications – It was confirmed that export finance provided to exporting companies plays an important role in helping to promote exports. Therefore, the government and financial institutions should support exporting companies by providing active export financing support, along with export promotion policies.
Purpose – This research aims to provide standards for the judgment of “foreseeability” in the general principle of compensation for damages in Art. 74 of CISG. Design/Methodology/Approach – This research analyzes the legal interpretation of CISG’s provisions related to damage (Art.74~Art.77) and related precedents. Findings – The results revealed the “principle of rationality” as a criterion for judging the “foreseeability” of Art.74 of CISG. Research Implications – From a practical point of view, it is difficult to predict the outcome of disputes in a situation where there is no standard for “foreseeability” as to the extent of damages from the point of view of the party liable under CISG. Therefore, it can be said that the appropriate criteria for “foreseeability” are essential. This paper presents the “principle of rationality” as a standard for. The rationality principles were extracted from the following three provisions of Art.74, namely Art.75~Art.77. These criteria are that the item of recoverable loss must be reasonable, and the amount of recoverable damage must be reasonable. This research is meaningful in presenting standards of damages to trade transaction practitioners.
Purpose – The purpose of this study is to trace the process by which Singapore considered and reached social consensus on the development of integrated resorts (IR), including casinos. Additionally, this study aims to derive policy implications as a systemic basis for future IR development in Japan. Design/Methodology/Approach – A meta-analysis was conducted to analyze the context and content of policy decisions in detail, focusing on the theoretical discussion of the characteristics of Singaporean IR, and the political and social decision-making process surrounding the introduction of the IR business. Findings – The Singaporean government demonstrated an inclusive policy decision-making process that convinced various stakeholders, especially civil society and the religious community, on the introduction of casinos. In addition, to minimize the social side effects of introducing casinos, the government actively provided safety measures, and pursued a strategy to lead investors to invest a large amount of money in Singapore’s tourism infrastructure along with license renewal negotiations. Research Implications – By analyzing the policy compliance process of citizens and the effective use of policy framing regarding politically and socially controversial IR business, this study helps to understand the policy decision-making process concerning IR. Furthermore, through the successful case of Singapore, this study can provide a framework that can be applied systematically for future IR business development in Japan.
Purpose – This study attempts to analyze the dynamic relationship between the NFT index and macroeconomic factors, and make effective suggestions using research methods in the field of management finance. Design/Methodology/Approach – The study sample was from January 2020 to March 2023. The variables used in the analysis were based on monthly time series data, measured on the basis of the Metaverse–NFT Index (MVNX) index released by Wavebridge Limited in Korea to reflect the growth trend of the NFT market, money supply, US dollar–won exchange rate, gross domestic product, consumer price index, and other macroeconomic indicators. The analytical tools in this study included a unit root test based on the VAR model, the Johansen cointegration Test, Granger causality test, impulse response analysis, and variance decomposition. These methods are very effective in analyzing time series data. Findings – The results of the analysis show that macroeconomic factors, such as money supply, exchange rate, GDP, and consumer price index are important sources of information in predicting the NFT index. Research Implications – The results of this study are expected to provide practical information for NFT users, virtual asset trading platforms, investors, and policymakers related to NFT ecology. Furthermore, this study’s findings are of great significance, being the first global study to explore the relationship between NFTs and macroeconomic factors.
Purpose – This study aims to analyze the spillover effect of trade policy uncertainty (TPU) in the United States and three Northeast Asian countries (Korea, China, and Japan). Additionally, this study examines the effect of net pairwise directional connectedness (NPDC), derived from TPUs on exchange rate volatility (ERV), as well as the causal relationship between NPDC and ERV. Design/Methodology/Approach – This study derives NPDC using the dynamic connectedness method, as developed by Diebold and Yilmaz (2012), from January 2000 to May 2022. Furthermore, the study applies the panel pooled mean group (PMG) technique and panel causality methodology, developed by Dumitrescu and Hurlin (2012), from August 2005 to May 2022 to analyze the impact of NPDC on ERV and their causal relationships. Findings – According to the analysis, the United States-China trade dispute increased the volatility of trade policy through the contraction of international trade, and COVID-19 affected the TPU regarding the stagnation of global production activities and lack of effective demand. Furthermore, this study confirms the empirical results that an increase in NPDC magnifies ERV, and there is bidirectional causality between ERV and NPDC according to time lags. Research Implications – Investors and trade firms must closely examine the interrelationship between NPDC and ERV, and effectively deal with foreign exchange markets and international trade uncertainties to reduce system risks in Northeast Asia.
Purpose – The purpose of this study is to examine the influence of the policies and implementation of the psychosocial safety climate within airlines on cabin crew member safety behaviors and satisfaction through virtual reality (VR) training, with the aim of ensuring safe flights. Design/Methodology/Approach – This study was conducted to validate the established hypotheses and research models by employing 353 cabin crew members within a domestic company that provides VR training. Empirical research was executed using the SPSS 25.0 statistical package for data analysis. Findings – This study found that the psychosocial safety climate positively impacts the safety behavior of cabin crew, which is enhanced through airline VR training. Essential factors that promote organizational safety activities include management support and commitment, management priorities, organizational communication, and organizational participation and involvement. Moreover, managing the stress of flight duty-related cabin crews significantly impacts the relationship between safety behavior and training satisfaction. VR training helps improve organizational safety, and organizational efforts seem to encourage the active participation of employees in providing an environment where safe flights can be carried out. Research Implications – This study suggests the necessity of expanding and applying training programs using VR, not limited to VR training for cabin crew members, also considering the job characteristics of other departments, such as pilots and maintenance personnel. Also, this research explores methods for effectively managing human resources in airline cabin crews in accordance with the changed training methods, and provides reference materials for effectively conducting VR training in the future.
Purpose – This research aims to derive factors when developing a data platform for container terminalinland transportation and provide implications for platform quality improvement to cope with supply chain security issues such as COVID-19. Design/methodology/approach – In this study, an extensive literature review and interviews with related business practitioners were performed to obtain detailed survey results. Independent sample T-tests were conducted to verify differences between container terminal groups and inland-carrier groups, including forwarders. Then, exploratory factor analysis and importance-performance analysis were performed using SPSS26.0. Findings – The results showed that system accessibility, quality, and diversity of information should be considered preferentially, suggesting that the efficient management of fixed capital could be possible through the strengthening of practice-oriented container terminal-inland transportation linkages. Research implications – This study proposed the introduction of a modular container terminal-inland transportation platform considering the characteristics of relatively small-scale inland-carriers and forwarders. In addition, it is possible to create competitive edge that connects maritime and inland transportation in a balanced way from the perspective of a port-based logistics cluster if the range of platform availability related to container terminals and background logistics connectivity is expanded in phases.
Purpose – In recent years, with the rapid improvement of China’s economy, technology and consumption capacity, the children’s coffee shop industry has played an increasingly important role in China’s economy. Consumers’ demand for toys is also increasing, and experience marketing the resulting experience demand is also having an increasing impact on consumers’ purchasing behavior. Design/Methodology/Approach – This study takes the experience economy as the background, takes the Chinese children’s coffee shop as the research subject, and takes the experience marketing strategy model as the entry point to find out the problems existing in the marketing of the children’s coffee shop. Findings – This study comprehensively sorts out the content of strategic experiential marketing, and uses the method of SPSS statistical analysis and questionnaire survey to analyze the industry status quo of experiential marketing in children’s coffee stores. In-depth analysis was carried out, and the causal relationship between the five elements of sensory experience, emotional experience, thinking experience, action experience, and associated experience and consumer purchasing behavior was tested by regression analysis. Research Implications – The results are obtained. Theoretical inspiration. In terms of practical marketing, enterprises should deeply explore the influence of experiential marketing elements of children’s coffee stores on consumer purchasing behavior, so as to optimize marketing strategies, strive to provide feasible guidance for the development of the industry, and promote the operation of such small and medium-sized enterprises in China and development.
Purpose – This is a study of the adjective law of the SPS Agreement, which has recently attracted attention in the field of the WTO SPS Agreement, and the purpose of this study is the interpretation of Art. 8 and Annex C. Design/Methodology/Approach – Although there are many ways to interpret the SPS Agreement, this study analyzed the arguments of the parties and the interpretations of the panel and appellate body that appeared through WTO dispute cases related to this provision. Findings – The main issues in disputes related to Art. 8 and Annex C of the SPS Agreement were related to the interpretation of 'unreasonable delay' and 'like products'. ‘Unreasonable delay’ is interpreted as ‘unreasonable delay’ or ‘excessive delay’. The Judgment Criteria was not the duration of the delay, but whether the reasons for the delay were justified. Regarding the interpretation of ‘like products’, in the case of Korea - Radionuclides (DS495), for the first time among disputes related to the SPS Agreement, the interpretation of like products was an issue. The panel and the Appellate Body applied the same criteria to SPS Agreement and GATT 1994 Art. 3(4). Research Implications – Since the entry into force of the WTO Agreement, most disputes of the SPS Agreement have been related to substantive law, but recently, disputes related to adjective law have increased. Therefore, compliance with procedural law is required when adopting SPS measures.
Purpose – This study proposes a strategic direction to respond to deglobalization and trends that are changing due to COVID-19, the war in Ukraine, disruptive factors in the global supply chain, and domestic-centered supply chain establishment, and identifies changes in the global supply chain and the environment to respond. Design/Methodology/Approach – This study analyzes the changes in and structural characteristics of the global value chain, and develops case studies and related policies for the promotion and value of the urban mining industry as a countermeasure to solve problems in Korea through supply chain management. Findings – Utilizing the advantages of urban mining in Korea, the urban mining industry was selected as a strategic industry development plan to create an industrial cluster that encompasses the relevant public sector, research institutes, and companies at each stage of the industry. Research Implications – Through this study, it is possible to preemptively respond to the crisis by preparing an alternative to supply chain risk, and to secure and operate resources through the vitalization of the urban mining industry, which is the most realistic and long-term alternative. It will be possible to review the advantages and strategic development of the urban mining industry, job creation, and development of social enterprises by separately fostering the private and public sectors.
Purpose – This paper aims to investigate the export competitiveness of the Korean HS 9031 product group from 2016 to 2021 by adopting two constant market share models. Design/Methodology/Approach – This study utilizes two constant market share models, CMSA and CMSB. CMSA consists of disaggregating export growth into three main components. These components are referred to as the national growth component, the product component, and the trading country component. CMSB decomposes the total effect into the scale effect, the competitiveness effect, and the cross effect. All data used in this study were taken from the UN Comtrade database and the Korea International Trade Association database for four digit HS items. Findings – This study shows that Korea has a competitive edge over Vietnam, the United States, Taiwan, and Mexico in the domestic market, but has a competitive disadvantage in their import markets, while for India, Korea has competitive edge at home, but has a competitive disadvantage in India’s market. Research Implications – The analysis suggests that approaches and policies that focus on import market share rather than a competitive edge in the domestic market are needed.
Purpose – The purpose of this study is to verify the effects of brand crisis causes and brand personality types on negative emotions. This research investigates the different impacts of intentional and unintentional crisis causes on anger and disappointment. Furthermore, the differential impacts of sincere and exiting brands on anger and disappointment are analyzed. Design/Methodology/Approach – This study tests four hypotheses through experimental designs using different scenarios. In order to make a sincere brand personality an expression, ‘innocent and faithful’ is used in describing a company, and words such as challenging, liberal, and creative are used for making an existing brand personality. 249 participated, and 201 responses were analyzed, excluding unfaithful questionnaires. Findings – The results of the study show that an intentional cause brings about anger more strongly than disappointment. By contrast, an unintentional cause led to disappointment more than anger. A sincere brand’s crisis was associated more strongly with anger than disappointment, and an exciting brand’s crisis influenced disappointment more greatly than anger. Research Implications – In intentional brand crisis and sincere brand situations wherein anger was greater than disappointment, a prompt apology may be necessary before implementing specific compensation tactics. This is because it is crucial to rapidly mitigate the negative impact of intense anger. On the other hand, disappointment is a slower-moving emotion that arises from suboptimal performance. Therefore, compensatory tactics may be required to meet consumer expectations.
Purpose – Theoretically, exchange rate appreciation and exchange rate volatility may increase or decrease FDI inflows, and the results of empirical analyses are mixed. Given these inconsistent findings, this study aims to empirically investigate the effects of exchange rates and exchange rate volatility on FDI in China. Design/Methodology/Approach – To analyze the effects of exchange rate and exchange rate volatility on FDI, we first generate exchange rate volatility, monthly GDP data, and the difference between long-term interest rates in China and the U.S., and then set the time period of increased exchange rate volatility after 2012 as a dummy variable. We finally investigate the long run equilibrium and the short run dynamics by employing the time series ARDL model. Findings – The estimation results show that the FDI determination model exhibits a long-run equilibrium relationship. In the long and short runs, exchange rate appreciation, increased exchange rate volatility, and the interest rate differential between China and the U.S. inhibit FDI inflows to China. However, GDP growth promotes FDI inflows only in the long-run. Research Implications – By empirically investigating the effects of China's exchange rate and exchange rate volatility on FDI, we may evaluate whether the current reforms of the CNY exchange rate are all in the direction of stability and marketization.
