Earticle

This study investigates the asymmetric effect of real exchange rate on trade balance in Korea. The nonlinear ARDL model of Shin et al. (2014) is employed as econometric methodology. While the linear ARDL model fails to find cointegration relationship between variables, nonlinear ARDL model captures cointegration relationship which is robust to lags and restrictions. We found there exist J-curve effect and the three types of asymmetries in relationship of trade balance and real exchange rate. First, long-run reaction asymmetry: depreciation improves trade balance, but appreciation does not work. Second, short-run impact asymmetry: contemporaneous change of exchange rate affects trade balance differently. Third, adjustment asymmetry: adjustment process on long-run equilibrium with face to appreciation and depreciation is not equal.

The purpose of this study is to investigate whether recent investment in the Korean energy sector has affected the increase in the share of renewable energy and to find this result has an effect on the decrease of carbon emission sequentially. We used panel model and OLS to grasp these relations. The data used in this study are from Foreign investment in Korea power sector for 12 years by the Export-Import Bank of Korea (2004 ~ 2016) as a time-series data, and a panel comprising 17 wide-area regions across the country as a cross-section. The result of this study shows that the foreign investment increased the production of new renewable energy and reduces carbon emissions.

The purpose of this study is to analyze the impact of entrepreneurial orientation and market orientation on technological capability, marketing capability and export performance of consumer-goods SMEs in China. Relationships among the study concepts are predicted based on existing literature and tested through the survey from 300 consumer-goods SMEs in China. The empirical findings are as follows: First, entrepreneurial orientation and market orientation respectively have a positive effect on technological capability and marketing capability. Second, technological capability has a positive effect on export performance, but market capability has not a positive effect on export performance. Finally, entrepreneurial orientation and market orientation all have a positive effect on export performance.

The purpose of this study is to examine the experiences of customers who go to Korea to undergo plastic surgery. This study applies the quality-of-service gap model to understand and analyze customer satisfaction and service demand and to know various measures and suggestions to improve medical services. A questionnaire survey is adopted according to the basic theory of the service quality gap model. Based on actual conditions of hospital work in Korea, the gap model of medical service quality is established. SPSS22.0 statistical package was used to analyze and process data. Results show that plastic surgery customers’ perception of medical services is higher than expected. At the same time, plastic surgery customers indicate the highest evaluation of the quality of medical services. These customers have the highest expectation of assurance in medical service quality and the lowest expectation on empathy. Among the plastic surgery clients in various age groups, the younger ones exhibit greater difference between the expected value and actual perceived value in terms of the reliability of medical service quality. Therefore, we can conclude that the service quality gap model is feasible in analyzing and improving the satisfaction of hospital patients. This model is a reliable theoretical reference that hospital administrators can use to address issues related to medical service quality.

It is general that clauses of renegotiation and adaptation are included in the long term investment agreements, for example, in natural resources exploration agreements such as oils or minerals. By including the clauses, parties may recover contractual equilibrium when the unexpected political, legal, economic or geological events occurred. However, renegotiation and adaptation clauses have not a single formula, and these clauses are different depending on contractual relationship of the parties and other factors. In these context, this study examines practical characteristics and rationales of renegotiation and adaptation of contracts. And also, this study reviews the renegotiation clauses including the triggering events, obligations of the parties during renegotiation, as well as legal consequences in case of failure of renegotiation, in long term agreements.