Developed countries’ interest in the revival of manufacturing has increased greatly, and such attitudes have become even more widely adopted since the global financial crisis in 2008. The German economy, which has strengthened its manufacturing competitiveness through longterm investment and...

We study firms’ voluntary disclosure in an oligopoly market for vertically differentiated products, where firms are allowed to advertise a rival’s product as well as their own products. When consumers are uncertain of product qualities, Board (2009)1) and Hotz and Xiao (2011)2) show that...

Corporate investment leads job creation and output growth by increasing capital accumulation in the short-run, and also acts as a crucial element for sustainable economic growth in the long run. However, the external economic environment that Korea faces is currently not so bright. The U.S....

A remarkable feature of the 2008-09 financial crisis was that it led to an exceptionally rapid and large contraction in world trade. For example, nominal world trade fell by 30% in just one year ending in the first quarter of 2009.1) The trade collapse was also unparalleled in its...

Trade has been considered an important engine of growth, especially for developing countries. Japan provided a prototype model of a successful export-oriented economy during the second half of the twentieth century. For the past three decades, Korea has succeeded to a powerful trading nation,...

In order to vitalize the domestic economy, the new Korean government adopted the economic concept of the ‘Creative Economy (afterwards, CE)’, which is accompanied by various interpretations. In fact, the CE can have many different approaches in accordance with aims and targets, whether they...

The retail sector in Korea has experienced dramatic changes since the introduction of large scale discount stores and retail market reforms in 1996. The introduction of the new retail format has altered consumers’ shopping patterns and increased their benefits from one-stop shopping. At the...

New industry finance has the following five characteristics. First, information asymmetry problem appears relatively stronger in the new industry finance compared to the normal industry finance. Asymmetry of information between trading partners means that the amount of information is on...

Product recall known as a kind of a product-harm crisis must be a tragic situation for a company recalling defected products because the company not only loses sales revenue, market share and investments but also suffer from the devaluation of their brand reputation and their investments in...

Over the last two or three decades, the world economy has witnessed the rapid integration of global markets through trade. The rising integration of world markets has brought with it a disintegration of the production process. Production processes are more and more fragmented across firms and...