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This paper analyzes the information content of the forward exchange rates implied by the interest rate parity, using the Korea and U.S. interest rates and Won/dollar exchange rates observed during the period of March 1991 to December 2002. First, we test the cointegration between implied forward exchange rates and future spot exchange rates to examine their longrun relationship, and find the existence of cointegration. Next, we examine the international Fisher effect and estimate an error correction model for their shortrun relationship. Our analysis supports the international Fisher effect for longer maturities. Our result also supports the error correction model that states that the future spot exchange rates will be adjusted reflecting the information contained in the past-period implied forward rates which is not fully reflected to current spot rates. Finally, we also find that the term structure of implied forward exchange rates is associated with the changes in future spot rates for longer maturities. Based on our findings, we conclude that the longrun relationship exists between the implied forward exchange rates and future spot exchange rates, and the shortrun deviation from the relationship tend to disappear as they return to the longrun relationship in the course of time.

Coffee shops are becoming more aware that brand loyalty can be an effective strategy for securing a competitive edge in business. To supplement current understanding of the importance of coffee shop branding, this study investigates the role of personality traits and congruity in the formation of brand loyalty. This study finds that personality traits have direct effects on congruity and customer satisfaction, the two defining factors of brand loyalty. Overall, our results suggest that the interaction of personality traits, congruity, and satisfaction is essential to the process of influencing coffee shop customers’ brand loyalty.

The weapon system of The Navy is the small quantity producing system on multiple kinds. It is consisted of various equipment and the subordinate parts of those which can repair the damaged part. The operating procedure concerning warship's repair parts managed under these systems is as follows. Firstly, if demand of repair parts occurs from warship which is the operating unit of weapon, then the Fleet(the repair & supply support battalion) is in charge of dealing with these requests. If certain request from warship is beyond the battalion's capability, it is delivered directly to the Logistic Command. In short, the repair and supply support system of repair parts can be described as the multi-level support system. The various theoretical researches on inventory management of Navy's repair parts and simulation study that reflects reality in detail have been carried out simultaneously. However, the majority of existing research has been conducted on aircraft and tank's repairable items, in that, the studies is woefully deficient in the area concerning Navy's inventory management. For that reason, this paper firstly constructs the model of consumable items that is frequently damaged reflecting characteristics of navy's repair parts inventory management using ARENA simulation. After that, this paper is trying to propose methodology to analyze optimal inventory level of each supply unit through OptQuest, the optimization program of ARENA simulation.

The maritime freight transportation industry has played an important role in the Korean economy. The Korean maritime freight transportation industry is faced with a period of transforming it competitively and efficiently in this global age. This paper, therefore, aims to identify the impact of the maritime freight transportation industry in the Korean national economy. Hence, this paper provides policy-makers with accessible and reliable information regarding the role of the Korean maritime freight transportation industry. This study employs input-output (I-O) analysis to examine the role of the maritime freight transportation industry in the national economy for the period 1995-2003, with specific application to Korea. This study pays particular attention to the maritime freight transportation industry by taking the industry as exogenous variable and then investigates its economic impacts. We identify inter-industry linkage effects in 20 sectors, production-inducing effects, added value-inducing effects, and supply-shortage effects of the maritime freight transportation industry.

The authors present the results of a survey on how Korean firms evaluate new projects and estimate their capital costs. The authors report how Korean firms’ capital budgeting practices compare to other developed countries and to best practices in the field of finance.

The authors survey CFOs of major Korean firms on their capital budgeting practices. The authors then compare the results against the US and European firms and best practices of leading firms and financial advisors.

The authors find that the capital budgeting practices of Korean firms are as strong as or stronger than firms in developed markets. A majority of Korean firms use best practices techniques such as NPV, IRR and the CAPM for project evaluation and cost of equity estimation. Chaebol affiliation results in somewhat stronger capital budgeting practices. The authors also find that other factors, such as company size, leverage, CEO age and CEO education, impact capital budgeting practices.

This paper is the first article that comprehensively examines Korean firms' capital budgeting practices.

While the origin of Korean Industrial Relations goes back 150 years when the country opened its seaports to foreign countries, it didn’t emerge as a field of study until 1950s when academics began to write books and papers on the Korean labor movement, labor laws, and labor economics. In this paper, we sketch this history and describe important events and people that contributed to the development of industrial relations in Korea. Korean industrial relations in the early 20th century were significantly distorted by the 35-year-Japanese colonial rule (1910–1945). After regaining its independence, the U.S. backed, growth-oriented, military-based, authoritarian Korean government followed suit and consistently suppressed organized labor until 1987. Finally, the 1987 Great Labor Offensive allowed the labor movement to flourish in a democratized society. Three groups were especially influential in the field of industrial relations in the early 1960s: labor activists, religious leaders, and university faculty. Since then, numerous scholars have published books and papers on Korean industrial relations, whose perspectives, goals, and processes are still being debated and argued. The Korean Industrial Relations Association (KIRA) was formed on March 25, 1990 and many other academic and practitioner associations have also come into being since then. The future of industrial relations as a field of study in Korea does not seem bright, however. Issues regarding organized labor are losing attention because of a steadily shrinking unionization rate, changing societal attitude toward labor unions, and the enactment of new and improved laws and regulations regarding employment relationships more broadly. Thus, we suggest that emerging issues such as contingent workers, works councils and tripartite partnership, conflict management, and human rights will be addressed by the field of industrial relations in Korea only if this field breaks with its traditional focus on union and union–management relations.

Since 1997, a quantitative revolution has swept Korean economic history and generated a new paradigm. From 1700 to 1900 the Korean economy expanded and contracted along lines suggested by Adam Smith. Economic expansion was based on productive land and a stable commodity market. The direct result was high real skilled wages. Economic contraction became clear from the mid-nineteenth century when the value of land declined, commodity prices rose, and real skilled wages fell. The contraction was apparent before the appearance of Japanese imperialism and the absorption of Korea into the international commodity market after 1876.

China is currently developing and promoting an industrial cluster policy at the government level. By enacting the ‘Opinion on promoting industrial cluster development’, China is supporting the development of industrial clusters. Building an industrial cluster is done by using a single factor but requires many additional factors like regional characteristics, competitiveness factors are also diversified. To evaluate the competitiveness of the Chinese automobile industry cluster, a competitiveness element index should be developed and a competitiveness evaluation method is needed to evaluate the importance of each element. To accomplish this objective, this research applied the analytic hierarchy process (AHP) and focused on the importance of the competitiveness elements.

This research investigated the character is tics regarding cases of clusters and also analyzed the competitiveness of the Changchun automobile cluster located in northeastern China. The purpose of this research is to help Korean enterprises who enter China in the hopes that Korea will emerge as a top automobile production country.

This paper presents research that sought to understand how the National Library of Australia engages with soft power in its Annual Report 2019–20. Driving the analysis was the research question: How is soft power discourse reproduced and enacted in the National Library of Australia's Annual Report 2019–20? The research recognises the significance of Australia's soft power, cultural diplomacy, and regional relationships to national interest in the context of a library's contributions to these areas.

The study employs a qualitative discourse analysis, with constructivist and interpretivist perspectives. A critical discourse analysis was undertaken that applied a discourse-historical approach.

The findings suggest that the National Library of Australia primarily engages with soft power discourse through the construction and preservation of an Australian national identity. National identity is framed as key to the Library's collection development, with Australian knowledge prioritised.

This study extends on research addressing the roles of galleries, archives, and museums in cultural diplomacy, but rarely examines soft power and libraries explicitly or in a contemporary context. It contributes to broader understandings of libraries in international relations and the role they can play in soft power attraction and cultural diplomacy.