In this paper, we investigate the classical economic topic about the relationship between financial sector and the real economy by testing whether financial development eases firm’s financial restriction for investment. The role of financial development on the real economy is a controversial...

There have been rising concerns about the sluggish recovery of domestic corporate investment. As one of the factors in the national account, corporate investment affects the current economic status by creating jobs, increasing income, and thus stimulating consumption. Also, it affects potential...

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....

In the modern economy, design is one of the most important factors of firm competitiveness. As design always creates demand, firms can improve their performances through investment in design. Design development increases a firm’s sales by influencing the appearance of final goods and the...

Productivity is known as the one of the most important engines for achieving sustainable growth of an economy. It implies the efficiency of the production process or the innovation in the economy. That is, through improving productivity, the present generation can meet its needs without...

The service industry has been expanding in the world and its structure is being gradually advanced today. Among developed countries, the service industry now employs more workers than the manufacturing sector and contributes more value added. In the manufacturing industry, manufacturers expand...

The purpose of this paper is to investigate the possible role of asset tangibility (mainly collateral) on corporate’s investment decision. To satisfy the purpose, we highlight the differences of corporate investment behaviors between the 1990s and the 2000s considering its financial phase. The...