This study is aimed at examining the quantitative size, effects, efficiency, and global status of Korea's Internet economy, and discussing market measures to maximize the benefits of Internet economy. The share of Internet economy in Korea is about 5.94% of GDP, and Korea was ranked among top...

In the article, we implement an empirical test on the portfolio effects of conglomerate mergers, using the data of Korean liquor market during the period 1990-2008 in which there have been several important conglomerate mergers between beer and soju companies. We find that the combined company...

Our work differs from the earlier work in several ways. First, we adopt the Shapley value as a bargaining solutions concept. It is well-known that the Shapley value, rather than the Nash bargaining solution, is more appropriate when partial coalitions are possible — for example, a coalition...

I analyze a simple model of reciprocal agency, in which two persons play interchanging roles of agent and principal, and show that optimal contracts can provide more incentives in reciprocal relationships than in unilateral relationships. Moreover, in the sequential setup, there exists a...