Keun Lee - Academia.edu (original) (raw)

Papers by Keun Lee

Abstract: This study examines the impacts of several factors, such as internal capital markets, t... more Abstract: This study examines the impacts of several factors, such as internal capital markets, technology transfer via FDI, and in-house R&D activities on the performance and growth of firms using data gathered from the top 200 companies in China during the period 1998-2003. A finance company, as an affiliate in the business group, is used as proxy for the internal capital market. The foreign joint venture firms and in-house research center are used as proxies for technology transfer and for the existence of in-house R&D activities, ...

Seoul Journal of Economics, 2009

This paper aims to conceptualize the modes of knowledge transfer from PROs and to identify the im... more This paper aims to conceptualize the modes of knowledge transfer from PROs and to identify the impacts of the modes on firm performance. To these ends, this utilizes the Survey on Korean industry-university/PRI relationships to estimate the impacts of its mode in terms of the innovation probability, patents and sales of Korean firms. First, we find that non-IP modes of knowledge transfer and patent/licensing from PROs facilitate the innovation probability or the patent-filing of firms, while business activity does not. Second, non-IP modes of ...

A structuralist macroeconomics perspective is taken to interpret the two recent financial crises ... more A structuralist macroeconomics perspective is taken to interpret the two recent financial crises in Korea, and new policy framework and reform measures are suggested to build a crisis-resilient macrofinancial system. This paper focuses on the “Frenkel-Neftci” cycle (Taylor 1998) and the two kinds of expected spreads, interest spread and capital gain spreads, which initially motivate foreign investment in emerging economies. To establish a crisis-resilient macro-financial system, a new macro policy framework that can be ...

Achieving Development Success, 2013

Foreign Trade Review, 2017

The post-liberalization era has witnessed a significant increase in foreign direct investment (FD... more The post-liberalization era has witnessed a significant increase in foreign direct investment (FDI) inflows and intra-industry trade (IIT) of India. Considering this fact, the article attempts to investigate a causal relationship between FDI and IIT in the manufacturing sector of India for the period 1992–2013. Causality across various industries of the manufacturing sector has also been analyzed. For the manufacturing sector, causality tests depict unidirectional causality from IIT to FDI. The results at industry level vary across different industries. For majority of the industries, it is found that FDI inflows have led to an increase in IIT for the manufacturing sector of India.

International Journal of Technological Learning, Innovation and Development, 2009

The Journal of the Korean Economy, 2000

Utilizing insights from new growth theory, Porter's competitive advantage theory, and Kojima... more Utilizing insights from new growth theory, Porter's competitive advantage theory, and Kojima's theory of DFI, this paper analyzes the overall growth mechanism of the Korean economy by integrating various dimensions, such as factor intensity changes, sectoral growth, trade performance, and direct foreign investment. This paper points out" knowledge accumulation" as one of the engines of growth in the Korean economy, and shows that although knowledge intensity has steadily increased over the last decade, Korean ...

Asian Post-Crisis Management: Business and Governmental Strategies for sustainable competitive advantages. Palgrav, 2002

Seoul Journal of Economics, 2007

An increasing number of Chinese companies are now taking the form of the business group. The big ... more An increasing number of Chinese companies are now taking the form of the business group. The big business groups in China tend to have more state shares, be more heavily indebted, less profitable, and accumulating capital more slowly than non-group firms. The emergence of the business groups was an outcome of entry into new profitable business fields by the existing companies given that exit from the old business fields was not easy due to institutional constraints. In this case, entry or expansion into new business ...

African Journal of Science, Technology, Innovation and Development, 2014

Cambridge Journal of Economics

This paper analyzes problems in China&#x27;s enterprise reform from property rights and a... more This paper analyzes problems in China&#x27;s enterprise reform from property rights and agency problem perspectives. Reform efforts by the mid 1980s are interpreted as dealing with only the agency problem by relocating the decision process among agents, but not solving the hierarchical collusion problem. The shareholding system experiment is the first effort to deal with property rights relations. Although it seems to have contributed to some improvement in enterprise performance, there still remains the problem of expropriation of state assets by ...

Asian Journal of Technology Innovation

Summary This paper has discussed several issues regarding the barriers and opportunities for tech... more Summary This paper has discussed several issues regarding the barriers and opportunities for technological catch‐up by the late‐comer countries and firms. As one of the barriers to technological catch‐up, the paper emphasizes the uncertainty involved with the third stage of learning how to design. The barriers arise because as the forerunner firms refuse to sell or give license to successful catching‐up firms who thus have to design the product by themselves. The paper discusses how to overcome this barrier. It also notes that if the ...

The existence of the business groups has been associated with market failure in emerging economie... more The existence of the business groups has been associated with market failure in emerging economies, and thus their performance has been argued and found to have declined with development of market institutions surrounding them. This paper takes up this issue of long-term performance of the business groups but argues that it has also to do with the internal problems, such

This paper first compares,productive efficiency of Chaebols and non-Chaebol firms in Korea. The f... more This paper first compares,productive efficiency of Chaebols and non-Chaebol firms in Korea. The first contribution of this paper lies in that we have treated each Chaebolgr oup as a single entity consisting of tens of affiliated firms. This is important since affiliated firms in a Chaebol are not really independent firms. They are subject to centralized control, evaluation and

Asian Journal of Technology Innovation, 2007

Evolutionary and Institutional Economics Review, 2009

Asian Journal of Technology Innovation, 2015

This study deals with the convergence and divergence issue in terms of the possible difference in... more This study deals with the convergence and divergence issue in terms of the possible difference in the knowledge-sourcing behaviour of latecomer and incumbent firms. Consequently, empirical analysis using the patent citation data shows that no significant difference exists in the knowledge-sourcing behaviour of the incumbents and latecomers in long-cycle time-based sectors, particularly in terms of whether each type of firm relies more or less on ‘recent’ and ‘scientific’ knowledge. By contrast, a significant difference is observed in the short-cycle technology-based sectors, such that the latecomer firms tend to rely more on ‘recent’ and ‘scientific’ knowledge than the incumbents. Thus, the findings suggest that the answer to the question of whether convergence or divergence exists in knowledge sourcing is that it depends on the knowledge regime of the sectors, specifically on the cycle time of the technologies of sectors. This finding is consistent with the reasoning that the latecomer firms can afford to rely only on recent technologies in short-cycle sectors in which technologies tend to change quickly or become obsolete; latecomer firms are also keen on their knowledge sourcing to broadly search not only into technological knowledge (patents) but also into scientific knowledge (articles) in short-cycle sectors with rapid change of technologies.

Millennial Asia, 2015

ABSTRACT: Analysing the case of Samsung Electronics’ mobile phone business, this paper examines t... more ABSTRACT: Analysing the case of Samsung Electronics’ mobile phone business, this paper examines the effects of establishing factories abroad on domestic jobs and the issue of technological hollowing out. The offshoring of mobile phone assembly to China, India, Brazil and Vietnam did not result in a reduction of domestic jobs. On the contrary, Samsung’s domestic employment increased from 5960 persons in 2002 to 20,500 in 2012. This increase mainly reflects a net increase in high-paying jobs (R&D, engineering, design, marketing) while the number of low-paying jobs (assembly) remained stagnant. To cope with possible technological hollowing out, Samsung kept its core engineers/technicians in a special unit, instead of firing them, whenever domestic assembly lines were reduced or foreign lines were established. They were kept inside the so-called “global manufacturing technology center,” with the number of its employees increasing from 80 in 2006 to more than 1103 in 2011. These employees visit overseas factories to conduct activities such as maintenance, monitoring, re-modeling of assembly lines, and automation. In terms of strategy, Samsung engages in offshoring, but not outsourcing. This is in contrast to Apple which does both offshoring and outsourcing by contracting with Foxconn. Review of World Economics 08/2015; 151(3). DOI:10.1007/s10290-015-0219-8 · 0.78 Impact Factor