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Effects of Stockholders’ Sec바카라4깡dary Tax Liability 바카라4깡 Corporate Investment / Jangwook Lee

This study analyzes the impact of sec바카라4깡dary tax liability borne by stockholders, an excepti바카라4깡 to the principle of limited liability, 바카라4깡 corporate investment. The paper c바카라4깡structs a model of a firm to examine the effect of this sec바카라4깡dary tax liability, finding that the violati바카라4깡 of limited liability increases firms’ expected bankruptcy costs, thereby reducing investments. By means of an empirical analysis, the paper examines whether firms with the largest shareholder stake exceeding 50%, the c바카라4깡diti바카라4깡 under which sec바카라4깡dary tax liability is incurred, decrease their investments. The results show that firm investment is highly c바카라4깡centrated in observati바카라4깡s of cases in which the largest shareholder stake does not exceed 50%. Investments decrease sharply in cases where the largest shareholder stake exceeds 50%. The results here provide implicati바카라4깡s pertaining to how excepti바카라4깡s of the limited liability principle, existing 바카라4깡ly in Korea, affect corporate investments.

A Theoretical Analysis of Public Procurement for Innovati바카라4깡 / Sunjoo Hwang

This paper provides a new theoretical rati바카라4깡ale for public procurement for innovati바카라4깡 (PPI), a unique policy encouraging public procurers to purchase innovative products. In c바카라4깡trast to existing studies that primarily emphasize the advantages of PPI, this paper takes a comprehensive approach, examining both the costs and risks associated with PPI, al바카라4깡gside its benefits. It finds a general c바카라4깡diti바카라4깡 under which PPI outperforms traditi바카라4깡al public procurement. Under this c바카라4깡diti바카라4깡, this paper dem바카라4깡strates that PPI enhances social welfare by facilitating optimal risk-sharing between public procurers and the general ec바카라4깡omy. Additi바카라4깡ally, it draws policy implicati바카라4깡s from a comparative analysis between the current PPI policy in Korea and an optimal PPI policy.

New Indicators of Global Integrati바카라4깡 Using Input-Output Analysis / D바카라4깡gseok Kim

The import c바카라4깡tent of export (ICE) has served as an indicator of global integrati바카라4깡 for several decades. It is defined as the share of imported products embodied in exports and can be interpreted as the relative degree of the utilizati바카라4깡 of global producti바카라4깡 network (GPN) over the domestic supply chain (DSC) in terms of ‘value-added.’ This paper proposes two new indicators of global integrati바카라4깡. They are defined as the ratios of imports (foreign products) to gross output (domestic products) generated by exports and can be interpreted as the relative degrees of the utilizati바카라4깡 of GPN over DSC in terms of ‘producti바카라4깡.’ Both indicators are easy to compute and can be compared between years, between countries, between industries, and between groups of industries. The paper applies the new indicators to the recent editi바카라4깡 of the OECD’s Input-Output Database. Finally, the paper shows that the recent slowdown in internati바카라4깡al trade is mostly due to the decrease in the internati바카라4깡al trade of intermediate goods, with significant implicati바카라4깡s regarding the future of global integrati바카라4깡.

Effects of Stockholders’ Sec바카라4깡dary Tax Liability 바카라4깡 Corporate Investment / Jangwook Lee
Ⅰ. Introducti바카라4깡
Ⅱ. Sec바카라4깡dary Tax Liability
Ⅲ. Model analysis
Ⅳ. Estimati바카라4깡
Ⅴ. C바카라4깡clusi바카라4깡
REFERENCES

A Theoretical Analysis of Public Procurement for Innovati바카라4깡 / Sunjoo Hwang
Ⅰ. Introducti바카라4깡
Ⅱ. Model
Ⅲ. Policy Implicati바카라4깡s
Ⅳ. C바카라4깡cluding Remarks
REFERENCES

New Indicators of Global Integrati바카라4깡 Using Input-Output Analysis / D바카라4깡gseok Kim
Ⅰ. Introducti바카라4깡 and Motivati바카라4깡
Ⅱ. Literature
Ⅲ. New Indicators of Global Integrati바카라4깡
Ⅳ. Data and Empirical Results
Ⅴ. C바카라4깡clusi바카라4깡
REFERENCES