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Rules of multimodal transportation means that these rules may be used irrespective of the mode of transport selected and may also be used where more than one mode of transport is employed(EXW excepted, FCA, CPT, CIP, DAT, DAP, DDP). Therefore, it was examined three parts of the customs clearance and security information, risk transfer and allocation of costs in the IncotermsⓇ 2010. First, in the side of customs clearance and security information must comprehension that mutual assistance of sellers and buyers is required regarding any security-related information for import and export transit through any country. Second, risk transfer must understanding that IncotermsⓇ 2010 rules provide the divisions of risks between sellers and buyers, the connections between the time of transfer of risks, the premature transfer of risks. Third, allocation of costs must according to A6 and B6, the seller must pay all costs relating with A4, and the buyer must pay all costs relating to the goods from the time they have been delivered as envisaged in A4.

In this study, we test some hypotheses on whether foreign-invested companies in Busan have created jobs and spill-over effect on Busan local economy through backward and forward linkage with domestic firms. Panel regressions on both firm-level and macro data show that FDIs have directly increased jobs in the investing companies and also have indirectly increased sales in upstream and downstream companies. When the same regressions are run for two sub-samples, manufacturing vs. service industries, backward linkage effect turns out greater than forward linkage one in both cases.

Since the 1980s, international trade has invigorated the Korean economy. With the increase in countries that have joined the FTA(Free Trade Agreement), Korea’s trade volume has been growing. Due to the agreement with the IMF in the foreign exchange crisis in 1997, Korea has freely opened up to capital transactions by opening markets and welcoming the inflow of the foreign currency. Capital decontrol and liberalization of foreign currency can cause the sheer volatility of exchange rates. Because Korea has been more focused on trade than domestic demand, these exchange fluctuations have had significant effect on Korea’s economy indicators. To avoid negative effect of the drastic change in exchange rate, most countries try to stop the sheer volatility of exchange rate and keep the exchange rate stable by adapting their national policy. This paper analyzes the nature of exchange rate volatility and the factors that determine exchange rate. First, testing the validity of purchasing power parity on the US Dollar, Japanese Yen and Euro against the Korean Won was investigated by OLS(Ordinary Least Squares) analysis using monthly CPI and annual GDP deflator. In terms of empirical study, the theory of purchasing power parity holds true on the US Dollar and Japanese Yen against the Korean Won while there is no empirical findings for the existence of the purchasing power parity on the Euro against the Korean Won. Secondly, the expanded model of exchange rate determination was tested to reveal how interest rate and money supply affect exchange rate. This paper shows that the factor to determine exchange rate is not determined by a single item such as price level, interest rate or money supply. We can see that each factor has a different effect on the exchange rate.

According to the expanding of Cross-border B2C e-Commerce such as overseas direct purchase, the balance of trade related to online trade shows deficit. In order to reduce the balance of trade deficit on online trade, it is necessary to invigorate overseas direct sales. Therefore, this study attempted to figure out countermeasures for invigorating Korean overseas direct sales through trend analysis of overseas direct sales and case analysis. There are prerequisites for invigorating overseas direct sales in Korea as follows. First, it is necessary to set up the primary competitiveness such as overseas direct sales related products’ quality. Second, it is required to improve core ability such as global marketing ability for overseas direct sales. Third, it is needed to develop new market such as Middle East or EU beside the areas activating of overseas direct sales such as USA and China. Fourth, it is prerequisite of preparing related law and legal system to support overseas direct market systematically. Especially, it needs an overall information system related to Cross-border B2C e-Commerce. In addition, it is necessary to promote actively through succession cases related to overseas direct sales.

People's Republic of China is a representative Kimchi export nation with Korea. After 2007, PRC’s Kimchi export to Korean market maintains 100 million US dollars. Despite the development of PRC’s Kimchi industry and export, Korean Kimchi is unable to enter PRC’s market, because of the hygiene standard for pickled vegetables(GB 2714-2003) of PRC. GB 2714-2003 is hygiene standard which follows GB 2714-81 had been enacted firstly and GB 2714-1996 had been revised in 1996. GB 2714’s Microbial indicator had been added in 1996 was at the center of controversy, because Kimchi can’t scientifically keep the hygiene standard. After 2010, Korea government had continuously demanded the revision of GB2714-2003 to PRC government on a basis of scientific data. So PRC government had published a revised draft of GB2714-2003 on National Health and Family Planning Commission homepage on February 11, 2015. This draft was based on CODEX standard, Korean and Japanese regulations and scientific data. If GB2714-2003 should be revised, Non-tariff barriers which has been applied the Kimchi can be eliminated. and We can expect the normalization of Kimchi exports to PRC’s market. This paper analyzes the background and meaning of a revised draft of GB2714-2003.

There are two objectives of this research. The first, customer satisfaction of international couriers has a positive effect on firm reputation and customer satisfaction. The second, customer satisfaction of couriers has a positive effect on word of mouth and intention of reuse. To achieve the objectives, the conceptual and operational definitions of the measuring items were developed through prior research. The questionnaire was sent to Chinese students who are studying in Korean universities. The collected data were verified reliability and validity and the hypotheses were tested by multivariate regression. The implications of the results are as follows. First, assurance and empathy have a positive effect on firm reputation. Service quality is one of internal resources which is distinguished with competitors and the characteristics of the resource are useful, rare, hard to imitate and non-substitute. Therefore, the relationship between service quality and firm reputation can be explained by resource-based theory. Second, only empathy of sub-variables of service quality has a positive effect on customer satisfaction. This means that service quality of couriers has positive effect on firm reputation and it has a positive effect on customer satisfaction. Therefore, this research verified the mediated effect of service quality on the relationship between service quality and customer satisfaction. Third, firm reputation of couriers has a positive effect on customer satisfaction. Firm reputation is one of important internal resources in firms. Compared with competitors, couriers should enhance service quality with which they provide customers to enjoy superior reputation and as a result, they can achieve superior customer satisfaction. Therefore, the relationship between firm reputation and customer satisfaction can be explained by resource-based theory.

Employing the resource based and relations based theories of firm, this study examined the factors affecting the partnership between small & medium domestic manufacturers and overseas logistics firms. The study identifies two main channels of influence — namely firm specific resource (manufacturing capability, brand Awareness) and relational resources (role Clarity, reliability) — and tests the structural relations with competitive advantage and financial performance of the partnership. Using SmartPLS 2.0, the test reveals that the statistically significant positive factors on competitive advantage are reliability, brand recognition, and manufacturing capability. Further, consistent with many previous studies, this study confirms that for Korean small & medium manufacturers as well, competitive advantage of partnership has statistically positive significance on financial performance.

본 연구는 전 세계 주요 반도체기업 36개사의 수익성과 시장성에 대한 비모수적 펀더멘털 분석이다. 본 연구에서는 개별기업의 재무정보 및 경영관련 정보와 기업의 주식시장가치 및 수익율를 인과관계로 연결하기 위해 2단계 자료포락분석 (DEA)을 통해 단계별 효율성과 전체 과정의 효율성을 추정하였다. 첫 단계인 매출수익 창출과정 (Profitability Creation)에서는 반도체 前工程의 생산용량, 자본적 지출과 R&D투자를 투입요소로 하여, 매출액과 매출이익이 얼마나 효율적으로 산출되었는지 추정, 비교하였다. 두 번째 단계인 주식시장가치 창출과정 (Marketability Creation)에서는 투입요소로 이전 단계 산출물이 생산성 효율변경에 투사된 값인 중간생성물을 선택하였으며, 연구자의 기존 선행연구와 차별화를 위하여 최종산출물로 시가총액, 주가수익비율 뿐 아니라 누적평균초과수익율을 선택, 두 번의 테스트를 실시함으로써 이들이 얼마나 효율적으로 산출되는지 추정, 비교하였다. 분석 결과, 첫 단계인 매출수익 창출과정에서는 많은 반도체기업들이 수익성 효율변경에 근접하였으나, 두 번째 단계인 주식시장가치 창출과정에서는 오직 소수 기업 만이 시장성 효율변경에 도달하였다. 표본을 몇몇 의미 있는 기준으로 구분하고 집단 간 효율성에 차이가 있는지 분석한 결과, 사업형태에 의한 다양한 구분에서는 파운드리사 반도체기업들이 종합반도체기업들 보다 시장성 효율변경에 근접했으며, 전공정 생산용량규모에 의한 구분에서는 소형 생산용량을 갖는 반도체기업들이 중형이나 대형 반도체기업들 보다 수익성과 시장성에서 효율변경에 근접한 것으로 나타났다. 본 연구는, 기존의 2단계 자료포락분석 연구들이 모형화에서 중간생성물을 배제하거나 해석의 어려움 때문에 이에 대한 명확한 해석을 내리지 않는데 비하여, 매출수익 창출과정의 중간생성물인 생산함수 효율변경에의 투사값을 미래에 도달해야 하는 규범적인 (Normative) 기댓값으로 해석하고 이를 궁극적으로 기업의 주식시장가치 및 주식수익율과 연결시킴으로써 비모수적 펀더멘털 분석이 가치평가 분야에서도 충분히 적용될 수 있는 가능성을 제시하였다. 더불어 본 연구를 통해 기존 선행연구에서 다루지 못했던 반도체산업에 대한 심도 있는 통찰을 제공하였다는데 본 연구의 가치가 배가될 것 이다.

This research is non-parametric fundamental analysis of comparative profitability and marketability of global semiconductor suppliers. In order to link‘financial data and firm/industry specific information’to‘stock market price and CAAR’in consideration of causal relation, 2-step DEA is employed and the stepwise efficiency and overall efficiency in total production process are estimated. In the 1st step, front-end capacity of semiconductor manufacturing, CAPEX and R&D investment are accepted as inputs. Sales revenue and gross profit margin are selected as the outputs for the estimation of profitability. In the 2nd step, projected revenue and gross profit to efficiency frontier, which are intermediary products, are adopted as inputs. Market capitalisation and PER are chosen as the outputs for the estimation of marketability in the first test and CAAR as the output in the second test. The analysis results report that numerous suppliers are close to the efficiency frontier of profitability function overall and few suppliers reach the efficiency frontier of marketability function. For managerial implications, DMUs are categorised to several groups and considered whether there are the differences in comparative efficiencies between groups. As the analysis results, foundries are close to marketability frontier while small capacity suppliers are close to both profitability and marketability frontier. A number of previous studies that used 2-step DEA were excluding intermediary products from modeling and/or rarely defining them because of difficulties in making definition of intermediary products from management perspectives. This paper, however, provides the definition of intermediary products, which are the projected values to efficiency frontier, as normatively ideal level of achievement, which are expected value in the future, and links them with stock price and CAAR of firms. Through this approach, this paper is not only able to propose non-parametric fundamental analysis as a promising valuation candidate for investors in stock market, but also to provide a deep insight regarding semiconductor industry.

Shift-share analysis is a traditional tool for interregional comparison, measuring and evaluating sectoral performance. Its widespread use is explained by its simplicity, modest data requirements, and the fact that its use does not require primary data collection and the results are relatively easy to assess and interpret. This study, hence, uses a shift-share technique. The traditional shift-share model partitions the change of exports in a port into three effects: the national growth effect (NGE), the industrial mix effect (IME) and the regional share effect (RSE). The national growth effect attempts measure the export change in a region that would have occurred if export had grown at precisely the same rate as the national average. Hence, if the city grows at the same as the national average, it does not possess any comparative advantage in terms of resource endowments or human capital; it is neither better nor worse off then its counterparts. The second of the three components, the industrial mix effect, associate the differential growth rate in export between the region in question and the nation with the overall strengths or weaknesses of the export sectors. Ideally, it is expected that a large proportion of the region’s export should be concentrated in faster-growing industries and, by the same token, a smaller percentage of a region’s export should be in slow-growing industries of the port. The third component is the regional share effect accounting for a differential change between a region and the nation. The regional share effect portrays the competitive position of a region in relation to the rest of the region. The export data used in this study are obtained from the Korea International Trade Association. The particular product categories studied are at two-digit HS level of disaggregation. The national growth effect for the HS87 product accounted for about 73 percent of the increase in export of Gwangju City or 2 million dollars but fell to 8 percent or 50 thousand dollars during the period under analysis. That both the industrial mix effect and the regional share effect of the HS87 product were positive can be interpreted to mean that Gwangju City’s main export product was rapid growing one rather than the slow ones. Both effects, however, tended to dwindle. The industrial mix effect and the regional share effect in export to the U.S. were positive, while those effects in the export to China were negative or explained only a small portion of the change.

This paper aims to analyze empirically the effects of benevolence and credibility on logistics performance through supply chain collaboration in forwarding industry. In this study, we divide supply chain collaboration into three sub-dimensions which are cost/risk sharing, information sharing and benefit sharing and find out the causal relations between trust-benevolence and credibility- and logistics performance. Furthermore, we divide samples into two groups by the size of forwarding companies to compare causal relations between variables. We collected a data from forwarding companies in Korea and used PLS as the main statistical tool. The results are as follow. First, all hypotheses are accepted except two relations between credibility and benefit sharing, benefit sharing and logistics performance turned out to have minus relationship in small sized forwarding companies. Second, all hypotheses are accepted except three relations between benevolence and information sharing, credibility and benefit sharing, benefit sharing and logistics performance are rejected in large sized forwarding companies.

As Chinese environmental standards of private and public sectors are intensifying, it is vital to understand the relationship Chinese environmental consciousness, knowledge and behavior for marketers. Therefore, this research focuses on the impacts of Chinese consumers' new ecological paradigm and environmental knowledge on pro-environmental consumption behaviors such as trust to pro-environmental company and constant purchase intention to pro-environmental company's product. And this research also empirically test the moderate effect of environmental self-efficacy on the above mentioned relationships. This research results showed that environmental knowledge was significantly related of trust to pro-environmental company and constant purchase intention to pro-environmental company's product. And environmental self-efficacy has interaction effects with new ecological paradigm and environmental knowledge on pro-environmental consumption behaviors. However, the empirical results revealed that no relationship between new ecological paradigm and pro-environmental consumption behaviors.

Foreign investors are the second largest group in the Korean stock market in terms of stock holdings. This study tests whether the level of foreign ownership in a firm is inversely related to information asymmetry between the firm and the market. Using 399 samples of manufacturing firms listed on the Korea Stock Exchange during the period from 2000 to 2014, we analyze firm-specific factors that affect foreign ownership. After controlling for variables related with foreign equity ownership as reported in previous studies, the coefficients for systematic risk, unsystematic risk and managerial ownership exhibit a statistically significant negative sign. The result shows that foreign investors tend to hold stocks in low information asymmetry.

Under the rules of "The Prior Examination of classification", any person who intends to import or export goods, or any licensed customs broker, any corporate customs broker, or any customs clearance broker corporation may file a request, appended with documents prescribed by the Presidential Decree, to the Commissioner of the Korea Customs Service for a prior examination of the tariff classification on the attached Schedules of Tariff Rates to be applied to the relevant goods prior to filing an export or import declaration. But there are many problems on the practice of the prior examination rules. The problems of HS Classification as follows: the first is incorrect practice of classification, the second is the problems of inconsistent classification, the third is the problems of insufficient and non-professional classification, the fourth is different classification on the same items, the fifth is the difficulty of the correction of the given HS Classification Documents. In order to find a efficient solutions for easier utilization of "The Prior Examination of Tariff Classification Applied to Specific Goods", this thesis introduces the case study on the classification of the "Blood Glucose Test Meter". Through this case study I suggested the needs for the improvement of the current rules on the prior examination of classification.