This study employs a recursive dynamic computable general equilibrium model to evaluate the consequences of renewable energy (RE) expansion policies in South Korea, focusing on their impact on the economy, income distribution, and air pollution reduction. It assumes a scenario in which RE generation constitutes 20% of the total electricity generation by 2030. Various scenarios are explored, including those with and without emission regulations and those considering increased productivity of RE technology. Key findings suggest that expanding RE policies stimulates labor demand and revitalizes upstream industries. However, its effectiveness depends on increasing the efficiency of RE technologies. Carbon regulation, such as emissions trading schemes, reduces greenhouse gases and air pollutants, with environmental benefits outweighing GDP reductions. It decreases income inequality, whereas policies to promote RE exacerbate it, requiring corrective measures. Nevertheless, productivity improvements in the RE sector enhance income distribution.

This study employs a recursive dynamic computable general equilibrium model to evaluate the consequences of renewable energy (RE) expansion policies in South Korea, focusing on their impact on the economy, income distribution, and air pollution reduction. It assumes a scenario in which RE generation constitutes 20% of the total electricity generation by 2030. Various scenarios are explored, including those with and without emission regulations and those considering increased productivity of RE technology. Key findings suggest that expanding RE policies stimulates labor demand and revitalizes upstream industries. However, its effectiveness depends on increasing the efficiency of RE technologies. Carbon regulation, such as emissions trading schemes, reduces greenhouse gases and air pollutants, with environmental benefits outweighing GDP reductions. It decreases income inequality, whereas policies to promote RE exacerbate it, requiring corrective measures. Nevertheless, productivity improvements in the RE sector enhance income distribution.

This paper re-examines the immediate causes of the escalation of the July Crisis in 1914 by analyzing Austria-Hungary’s increasing resolve to use military force against Serbia and the evolving nature of Russian mobilizations between 1908 and 1914. The July Crisis can be viewed as a continuation of the Bosnian annexation crisis and the First and Second Balkan Wars from 1908 to 1913. Many underlying or structural explanations for the outbreak of the First World War fail to account for the specific escalation in 1914, particularly because these factors remained largely unchanged between the crises of 1913 and the July Crisis of 1914. This article argues that the two most proximate causes of the war’s outbreak were, first, the heightened resolve of Austro-Hungarian leaders to use military force against Serbia in July 1914—a qualitative shift from the coercive diplomacy of previous Balkan crises —and second, Russia’s decisions regarding preparatory war measures and general mobilization between July 25 and July 30, which contrasted with its earlier trial or partial mobilizations. In highlighting these developments, the paper challenges the dominant German paradigm and emphasizes the interactions among Serbia, Austria-Hungary, and Russia as key drivers in the escalation of the July Crisis into the First World War.

This study analyzes the competitive structure of the Korean health functional food (HFF) market using brand switching behavior derived from official market share data.By analyzing data from 2022-2023 provided by the Ministry of Food and Drug Safety.This study applies to the Hendry Model, a probabilistic brand-switching framework.We tested hypothetical market structures based on product categories, health claims, and manufacturers.The findings reveal a segmented market with limited substitution between submarkets.We identified 5 distinct product category submarkets, 4 health claim submarkets, and 3 manufacturer groups.The results suggest that competition in the HFF sector occurs primarily within submarkets rather than across the entire market.Firms should tailor product strategies to the specific dynamics of each segment.This study highlights the value of probabilistic modeling in uncovering latent market structures and informing strategic positioning.

This study investigated the effects of firm characteristics (external investment and co-CEO structures), managerial characteristics (CEO’s experience and age), and COVID-19 on earnings management in small- and medium-sized enterprises (SMEs). Examining the data of 18,873 Korean SMEs between 2015 and 2020, this study determined the factors influencing discretionary accruals in SMEs. Discretionary accruals were estimated using firms’ financial statements, and the effects of firm and CEO characteristics on the magnitude of the absolute value of discretionary accruals were estimated using random effects panel regression models. The results revealed that SMEs with co-CEO structures (vs. those with single-CEO structures), those led by more experienced CEOs (vs. those with less experienced CEOs), and those led by older CEOs (vs. those with younger CEOs) engage in less earnings management. Conversely, SMEs with external investors engage in greater earnings management than those without external investors. The results also showed that SMEs engaged in less earnings management during the COVID-19 period than during non-COVID-19 periods. Overall, this study is significant because it focuses on SMEs, a group often overlooked in earnings management research, and provides empirical evidence of how COVID-19, a global economic shock, influenced SMEs’ earnings management practices.

본 연구는 자료 포락 분석(DEA: Data Envelopment Analysis, 이하 DEA)을 활용하여 소비자 관점에서 국내 전기차 시장의 제품 효율성을 분석하였다. 전기차의 가격을 투입요소로, 연비, 주행거리, 차량 크기를 산출요소로 설정하여 2023년 11월부터 2024년 10월까지 판매된 24개 모델을 대상으로 분석하였다. 분석 결과, 현대 Casper EV, 기아 Ray EV, 기아 EV3와 같은 소형 모델이 높은 효율성을 보인 반면, 프리미엄 모델들은 상대적으로 낮은 효율성을 나타냈다. 규모수익 분석에서는 대부분의 모델이 규모 수익 체감(DRS)을 보여, 가격 증가율보다 성능 지표의 증가율이 더 낮음을 확인하였다. 규모 효율성과 판매량 간에는 통계적으로 유의미한 양의 상관관계가 나타났으며, 국내 브랜드가 테슬라 대비 낮은 판매량을 보여 소비자의 선호도가 단순 효율성 외에 브랜드 가치에도 영향을 받음을 확인하였다. 특히 현대와 기아는 테슬라와 비교하여 효율성이 높지만 판매 대수는 낮아 브랜드 가치 강화가 필요함을 시사한다. 향후 연구에서는 브랜드 가치와 같은 정성적 요소를 포함한 통합적 분석을 통해 소비자 관점의 효율성 평가를 발전시킬 필요가 있다.

본 연구는 국내 승용 자동차 시장의 경쟁 구조를 차량 브랜드 간 대체성 분석에 용이한 Hendry Model을 활용하여 분석하였다. 연구 방법으로 먼저 일반적인 승용차 구매자 관점에서 가상의 승용차 선택 모델 구조를 설정하였다. 이후 한국자동차모빌리티산업협회에서 제공한 2020년도 차종별 판매량 데이터를 기반으로 Hendry Model을 적용하여 2023년도 제조사별 시장 점유율을 예측하고, 이를 실제 2023년도 제조사별 시장 점유율과 비교 분석하였다. 연구 결과, 국내 승용차 시장은 12개 제조사가 단순히 직접적으로 경쟁하는 구조가 아닌 것으로 나타났다. 대신, 연료 타입별 경쟁 구조가 존재하며, 특히 가솔린 승용차 시장에서는 국내 제조사와 해외 제조사 간의 하위 시장 경쟁 구조가 확인되었다. 이러한 연구 결과는 국내 자동차 시장의 복잡한 경쟁 구조를 이해하고 자동차 제조사들의 마케팅 전략 수립과 정책 입안자들의 시장 규제 및 지원 정책 수립에 기초 자료로 활용될 수 있을 것이다. 또한, 본 연구는 Hendry Model을 활용한 국내 자동차 시장 분석의 첫 번째 시도로서, 향후 관련 연구 발전에 기여할 것으로 기대된다.