KJCKorea
Journal Central

This study compares the performance efficiency of government startup support programs across Korea’s 17 metropolitan cities and provinces, focusing on Daejeon. It links 2022 budgets to 2023 outcomes and 2023 budgets to 2024 outcomes. Stage 1 converts budgets into supported and certified venture firms, while Stage 2 converts the firm base into employment and sales. Output-oriented BCC DEA was complemented by CCR, scale-efficiency, relational CCR, and reduced-model analyses. Stage 1 was the main nationwide bottleneck. In Daejeon, Stage 1 efficiency rose from 0.3173(13th) to 0.9409(4th), Stage 2 from 0.7566(12th) to 0.8466(9th), and the composite index from 0.2400(14th) to 0.7965(3rd). However, Stage 1 scale efficiency remained low in the second period, and Stage 2 results were sensitive to intermediate-variable specification. These estimates indicate relative, not causal, effects. Daejeon should manage program scale and strengthen market-access, investment, and scale-up support.

Despite growing interest among individual investors in the Korean capital market, studies integrating financial and macroeconomic variables across KOSPI and KOSDAQ remain limited. Using multiple regression on 9,228 firm-year observations (KOSPI: 4,134; KOSDAQ: 5,094; ~1,794 firms) from 2015-2024, this study examines how equty capital, financial stability, growth, profitability, activity, market value ratios, and macroeconomic variables (current account balance, exchange rate) affect firm market capitalization. Total equity and PBR show significant positive effects; exchange rate shows a negative effect; some market value and activity variables reverse sign due to suppressor effects. Firm fixed-effects, Hausman, and Chow-test robustness checks show that debt-ratio significance is sensitive to standard-error choice and sample period, warranting caution, while a Chow test confirms a significant structural difference between KOSPI and KOSDAQ (F=35.77, p<.001). These findings extend understanding of market capitalization determinants and support market-specific investment indicators.

This study aims to examine the current status and directional patterns of overseas direct sales through online shopping malls by region and product category. Quarterly data on overseas direct online sales were obtained from Statistics Korea for the period from the first quarter of 2014 to the second quarter of 2026, covering a total of 50 quarters. Eight major regions were selected: China, Japan, ASEAN, the Middle East, the United States, the European Union and the United Kingdom, Oceania, and Latin America. Descriptive statistics showed notable differences in average sales across regions. Correlation analysis indicated that China had the strongest relationship with total overseas direct sales, followed by ASEAN, the United States, the EU and the UK, Japan, Oceania, the Middle East, and Latin America. Regression analysis using total sales as the dependent variable showed statistically significant relationships with China, ASEAN, and Japan, with an adjusted R-squared of 0.960 and a Durbin-Watson statistic of 1.017. Scatter plot analysis further revealed a strong directional relationship between total sales and China, while the relationships with most other regions were relatively weak or unclear.