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In the United States, the income share of the top 5% income group is acyclical over the business cycle. This study attempts to explain the cyclical behavior of the income distribution over the business cycle, particularly focusing on the top 5% income earners' share, using a heterogeneous agent model featuring a choice to become an entrepreneur. The model economy successfully reproduces the acyclical behavior of the income share of the top 5%. During expansions, relatively more people become entrepreneurs at the top, which offsets the decline in the income share of the high‐income earners from workers' side. 相似文献
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This study investigates the process involved in developing a medical tourism industry in South Korea as a case country, one of the fastest growing countries with strong potential in the medical tourism industry. It analyzed 252 articles on medical tourism posted on the websites of the Korean Tourism Organization and the Korean International Medical Association. Both sources are highly representative portal websites for medical tourism in the country. The article aims to enhance understanding of medical tourism as a new growth industry while identifying its key developmental characteristics and makes valuable suggestions for the industry that can be reflected to other countries. The study contributes theoretically and practically by examining the unique and updated characteristics and process of positioning of this recently emerging field in the global tourism industry. 相似文献
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G.M. Shamsul Kabir Tai Shzee YewKusairi Mohd. Noh Law Siong Hook 《Ecological Economics》2011,70(11):2114-2123
The Community Based Fisheries Management (CBFM) approach has made a significant contribution towards improvement of fishers' empowerment of inland openwater fisheries in Bangladesh aiming to manage their resources efficiently. This arrangement introduced CBFM approaches named fisher-led, community-led and women-led approach. A wider range of local institutional arrangements as community based organizations (CBOs) have been established through participatory process with legal entity. Now, the CBOs as local institutions and fishers are more empowered in participation of fishery management under co-management arrangement. The study reveals that there is still lack of institutional arrangement to be achieved at optimum level. This paper presents and assesses the empowerment status of the fisher communities in inland openwater fisheries under co-management arrangement in Bangladesh through Factor analysis and regression model. This study might have policy implication to replicate the community based fishery management approach to promote empowerment for better management. 相似文献
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Joohee Kim Yonghwi Noh 《The International Entrepreneurship and Management Journal》2016,12(3):681-696
This study investigates how psychological capital and risk tolerance can inspire service workers to develop internal motivation and entrepreneurial confidence. Data were gathered from a survey of 255 service workers in the metropolitan area of Seoul, South Korea. The results showed that service workers’ psychological capital consisted of two main constructs: hopeful self-efficacy and optimistic resilience. The results indicated that hopeful self-efficacy had no significant effect on service workers’ internal motivation, while the optimistic resilience had a positive effect which in turn positively impacted entrepreneurial confidence. On the other hand, risk tolerance was found not to affect service workers’ internal motivation. These results imply that optimistic service workers, with recuperative powers, tended to be proactive in their work and have more confidence when establishing new ventures. They also suggest that service firms can improve organizational performance by promoting worker optimism and resilience. This study provides practical insights into why service firms should pay attention to worker optimism and resilience to improve firm performance over the long run, not only for the firms but for the national economy as a whole. 相似文献
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In Joon Kim In-Seok Baek Jaesun Noh Sol Kim 《Review of Quantitative Finance and Accounting》2007,29(1):69-110
This paper investigates the role of stochastic volatility and return jumps in reproducing the volatility dynamics and the
shape characteristics of the Korean Composite Stock Price Index (KOSPI) 200 returns distribution. Using efficient method of
moments and reprojection analysis, we find that stochastic volatility models, both with and without return jumps, capture
return dynamics surprisingly well. The stochastic volatility model without return jumps, however, cannot fully reproduce the
conditional kurtosis implied by the data. Return jumps successfully complement this gap. We also find that return jumps are
essential in capturing the volatility smirk effects observed in short-term options.
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Sol KimEmail: |
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Changyong Lee Juram Kim Meansun Noh Han-Gyun Woo Kwangwook Gang 《Technology Analysis & Strategic Management》2017,29(1):53-67
Patent analysis has been considered as an effective means of estimating phases of a technology life cycle. However, previous studies have not considered the dynamic and idiosyncratic aspects of a technology’s progression since they were based on deterministic methods, mainly fitting s- or double s-shaped curves to patent application counts. Moreover, previous methods cannot be executed at the individual patent level. We propose a stochastic technology life cycle analysis to trace the phases of a technology’s progression based on patent citations and identify the patterns of technology life cycles at the individual patent level. At the heart of the proposed approach are a hidden Markov model to estimate the probability of a system being at a certain hidden state from observation and cluster analysis to group a set of objects according to their similarities. A case study of patents about laser technology in lithography is presented. 相似文献
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The purpose of this study is to investigate the impact of four travel risk factors (natural disaster risk, physical risk,
political risk, and performance risk) on traveler groups with different characteristics and the relationship among these risk
factors, travel satisfaction, and travelers’ repurchase intention. For the research purpose, this study analyzed the data
from passengers of a major international airline. The results suggest that traveler groups with different characteristics
(gender, airline seat class, travel purpose, travel destination, travel duration, travel companion, and income level) respond
differently to some risk factors, while they show the same response to other risk factors. The results also show that each
risk factor affects travel satisfaction and repurchase intention differently. These findings imply that airlines should develop
different strategies based on risk factors and travelers’ characteristics. 相似文献
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This paper studies a multilevel factor model with global and country factors. The global factors affect all individuals, whereas the country factors affect only those within each specific country. A sequential procedure to identify the global and country factors separately is proposed. In the initial step, the global factors are estimated by canonical correlation analysis. Using this initial estimator, the principal component estimators (PCEs) of the global and country factors are constructed. It is shown that the PCEs estimate the spaces of the global and country factors consistently and are normally distributed in the limit. Several information criteria that can estimate the number of country factors are proposed. The number of global factors is assumed to be known. Extensive simulation results demonstrate that the sequential procedure and information criteria work well in finite samples. The method of this paper is applied to 25 OECD countries to identify an international business cycle. It is reported that the method extracts a global factor reasonably well. 相似文献