Search Results

You are looking at 1 - 3 of 3 items for

  • Author or Editor: Jae-Hyung Lee x
  • Search level: All x
Clear All
Author: Jae-Hyung Lee

By utilizing a unique annual series data of the Korean economy from 1986 co 2004, this paper discovers chat differences between two indicators of openness (i.e., trade and finance) are causal co the differentials in real per capita income growth race. The empirical evidence is consistent with the hypothesis that, with ocher factors given, greater openness co finance and trade makes a substantial contribution co higher real per capita income growth rate. Therefore, in order to increase real per capita income growth race, Korean economic policies must pursue greater openness to trade and finance as well as regulatory reform.

Free access
In: Asian International Studies Review

We examine the relationship between the amount of shares held by Chaebol’s other affiliated firms and affiliated firm's ownership-control disparity. To this end, the ownership-control disparity equations are estimated with the ownership-control disparity index and the voting right leverage index as dependent variables, using cross-sectional data on 78 affiliated firms in Chaebols in 2005. These Chaebols are controlled by the ceiling on the total amount of holding shares of other affiliated firms in Chaebol. The estimation results with the ownership-control disparity index indicate that the increase in the amount of shares held by Chaebol’s other affiliated firms deepens the ownership-control disparity. And the amount of net assets and the amount of cash flow mitigate the ownership-control disparity. The estimation results of the voting right leverage index are almost the same as those of the ownership-control disparity index. We also find that the ownership-control disparity index is more elastic than the voting right leverage index with respect to the amount of shares held by Chaebol’s other affiliated firms. Overall, these empirical findings suggest that the ceiling on the total amount of holding shares of other affiliated firms in Chaebol can contribute to the desirable corporate governance.

Free access
In: Asian International Studies Review

Using available panel clam on 68 countries covering the years 1998-2006, we measure the sensitivity of per capita re-al GDP co change in each of the live social technologies by six country groups: OECD. Asia NlEs, developing countries, BRCs, less-developed countries, and Korea. The regression results suggest that each of the live social technologies in this paper (i.e., anti-corruption, deregulation, property rights, government size, and law) is positively related co per capita real GDP. The regression results also suggest that per capita real GOP is more elastic with respect to each of the five social technologies than IT as a proxy for physical technology in the group of relatively rich countries. It is evident that per capita real CDP is elastic with respect to social technologies in Korea. This implies that co speed up Korea's advancement, improving social technology may be crucial.

Free access
In: Asian International Studies Review