Korea International Trade Research Institute最新文献_第6页

An Empirical Study of the Relationship between FDI and the Exchange Rate in China 中国FDI与汇率关系的实证研究

Korea International Trade Research Institute Pub Date : 2023-06-30 DOI: 10.16980/jitc.19.3.202306.311

Quan Jin, Yeonho Lee

{"title":"An Empirical Study of the Relationship between FDI and the Exchange Rate in China","authors":"Quan Jin, Yeonho Lee","doi":"10.16980/jitc.19.3.202306.311","DOIUrl":"https://doi.org/10.16980/jitc.19.3.202306.311","url":null,"abstract":"Purpose – Theoretically, exchange rate appreciation and exchange rate volatility may increase or decrease FDI inflows, and the results of empirical analyses are mixed. Given these inconsistent findings, this study aims to empirically investigate the effects of exchange rates and exchange rate volatility on FDI in China. Design/Methodology/Approach – To analyze the effects of exchange rate and exchange rate volatility on FDI, we first generate exchange rate volatility, monthly GDP data, and the difference between long-term interest rates in China and the U.S., and then set the time period of increased exchange rate volatility after 2012 as a dummy variable. We finally investigate the long run equilibrium and the short run dynamics by employing the time series ARDL model. Findings – The estimation results show that the FDI determination model exhibits a long-run equilibrium relationship. In the long and short runs, exchange rate appreciation, increased exchange rate volatility, and the interest rate differential between China and the U.S. inhibit FDI inflows to China. However, GDP growth promotes FDI inflows only in the long-run. Research Implications – By empirically investigating the effects of China's exchange rate and exchange rate volatility on FDI, we may evaluate whether the current reforms of the CNY exchange rate are all in the direction of stability and marketization.","PeriodicalId":166989,"journal":{"name":"Korea International Trade Research Institute","volume":"87 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133437291","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Research on the Influence of Experiential Marketing of Kids Cafe on Consumers’ Purchase Behavior 儿童咖啡馆体验营销对消费者购买行为的影响研究

Korea International Trade Research Institute Pub Date : 2023-06-30 DOI: 10.16980/jitc.19.3.202306.21

Yeong-Gil Kim

{"title":"Research on the Influence of Experiential Marketing of Kids Cafe on Consumers’ Purchase Behavior","authors":"Yeong-Gil Kim","doi":"10.16980/jitc.19.3.202306.21","DOIUrl":"https://doi.org/10.16980/jitc.19.3.202306.21","url":null,"abstract":"Purpose – In recent years, with the rapid improvement of China’s economy, technology and consumption capacity, the children’s coffee shop industry has played an increasingly important role in China’s economy. Consumers’ demand for toys is also increasing, and experience marketing the resulting experience demand is also having an increasing impact on consumers’ purchasing behavior. Design/Methodology/Approach – This study takes the experience economy as the background, takes the Chinese children’s coffee shop as the research subject, and takes the experience marketing strategy model as the entry point to find out the problems existing in the marketing of the children’s coffee shop. Findings – This study comprehensively sorts out the content of strategic experiential marketing, and uses the method of SPSS statistical analysis and questionnaire survey to analyze the industry status quo of experiential marketing in children’s coffee stores. In-depth analysis was carried out, and the causal relationship between the five elements of sensory experience, emotional experience, thinking experience, action experience, and associated experience and consumer purchasing behavior was tested by regression analysis. Research Implications – The results are obtained. Theoretical inspiration. In terms of practical marketing, enterprises should deeply explore the influence of experiential marketing elements of children’s coffee stores on consumer purchasing behavior, so as to optimize marketing strategies, strive to provide feasible guidance for the development of the industry, and promote the operation of such small and medium-sized enterprises in China and development.","PeriodicalId":166989,"journal":{"name":"Korea International Trade Research Institute","volume":"22 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121076733","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Container Terminal-Inland Transportation Linkage Platform Model Factor Analysis 集装箱码头-内陆运输联动平台模型因素分析

Korea International Trade Research Institute Pub Date : 2023-06-30 DOI: 10.16980/jitc.19.3.202306.131

D. Cho, Sihyun Kim, J. Hwang

{"title":"Container Terminal-Inland Transportation Linkage Platform Model Factor Analysis","authors":"D. Cho, Sihyun Kim, J. Hwang","doi":"10.16980/jitc.19.3.202306.131","DOIUrl":"https://doi.org/10.16980/jitc.19.3.202306.131","url":null,"abstract":"Purpose – This research aims to derive factors when developing a data platform for container terminalinland transportation and provide implications for platform quality improvement to cope with supply chain security issues such as COVID-19. Design/methodology/approach – In this study, an extensive literature review and interviews with related business practitioners were performed to obtain detailed survey results. Independent sample T-tests were conducted to verify differences between container terminal groups and inland-carrier groups, including forwarders. Then, exploratory factor analysis and importance-performance analysis were performed using SPSS26.0. Findings – The results showed that system accessibility, quality, and diversity of information should be considered preferentially, suggesting that the efficient management of fixed capital could be possible through the strengthening of practice-oriented container terminal-inland transportation linkages. Research implications – This study proposed the introduction of a modular container terminal-inland transportation platform considering the characteristics of relatively small-scale inland-carriers and forwarders. In addition, it is possible to create competitive edge that connects maritime and inland transportation in a balanced way from the perspective of a port-based logistics cluster if the range of platform availability related to container terminals and background logistics connectivity is expanded in phases.","PeriodicalId":166989,"journal":{"name":"Korea International Trade Research Institute","volume":"14 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124484868","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Research on Integrated Resorts (IR) and the Tourism Strategy Choice of Singapore 综合度假村与新加坡旅游战略选择研究

Korea International Trade Research Institute Pub Date : 2023-06-30 DOI: 10.16980/jitc.19.3.202306.67

Jeesuk Kim

{"title":"Research on Integrated Resorts (IR) and the Tourism Strategy Choice of Singapore","authors":"Jeesuk Kim","doi":"10.16980/jitc.19.3.202306.67","DOIUrl":"https://doi.org/10.16980/jitc.19.3.202306.67","url":null,"abstract":"Purpose – The purpose of this study is to trace the process by which Singapore considered and reached social consensus on the development of integrated resorts (IR), including casinos. Additionally, this study aims to derive policy implications as a systemic basis for future IR development in Japan. Design/Methodology/Approach – A meta-analysis was conducted to analyze the context and content of policy decisions in detail, focusing on the theoretical discussion of the characteristics of Singaporean IR, and the political and social decision-making process surrounding the introduction of the IR business. Findings – The Singaporean government demonstrated an inclusive policy decision-making process that convinced various stakeholders, especially civil society and the religious community, on the introduction of casinos. In addition, to minimize the social side effects of introducing casinos, the government actively provided safety measures, and pursued a strategy to lead investors to invest a large amount of money in Singapore’s tourism infrastructure along with license renewal negotiations. Research Implications – By analyzing the policy compliance process of citizens and the effective use of policy framing regarding politically and socially controversial IR business, this study helps to understand the policy decision-making process concerning IR. Furthermore, through the successful case of Singapore, this study can provide a framework that can be applied systematically for future IR business development in Japan.","PeriodicalId":166989,"journal":{"name":"Korea International Trade Research Institute","volume":"2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129342832","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

A Study on the Impact of the Export-Import Bank of Korea's Official Export Finance Support on Exports 韩国进出口银行官方出口融资支持对出口的影响研究

Korea International Trade Research Institute Pub Date : 2023-06-30 DOI: 10.16980/jitc.19.3.202306.263

Eun-Jae Lee, Seok-Young Lee, Yun-Kwan Lee

{"title":"A Study on the Impact of the Export-Import Bank of Korea's Official Export Finance Support on Exports","authors":"Eun-Jae Lee, Seok-Young Lee, Yun-Kwan Lee","doi":"10.16980/jitc.19.3.202306.263","DOIUrl":"https://doi.org/10.16980/jitc.19.3.202306.263","url":null,"abstract":"Purpose – The purpose of this study is to analyze the impact of official export finance supported by the Export-Import Bank of Korea on Korea's exports. In particular, in order to differentiate from previous studies, the detailed size, as well as the long-term and short-term effects of export financing support on exports, were analyzed. Design/Methodology/Approach – In this analysis, an Export Demand Function Model was introduced. Prior to the empirical analysis, a unit root test and cointegration test were conducted. As a result of the pretest, it was found that the variables included in the analysis were I (1), and the cointegration vector did not exist. Based on these results, a Vector Autoregressive (VAR) model was established. Findings – As a result of estimating the impulse response function, it was found that when an official export finance shock was applied, exports gradually increased from the time of the shock to the third period, and then the increase slowed and converged to zero. As a result of the variance decomposition analysis, the export financing support amount began to show explanatory power in export fluctuations from the second period, and showed about 2.5% explanatory power from the third to the tenth period. Research Implications – It was confirmed that export finance provided to exporting companies plays an important role in helping to promote exports. Therefore, the government and financial institutions should support exporting companies by providing active export financing support, along with export promotion policies.","PeriodicalId":166989,"journal":{"name":"Korea International Trade Research Institute","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131046737","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

The Impact of the Psychosocial Safety Climate on Safety Behavior and Satisfaction: Focused on VR-Trained Airline Cabin Crew 心理社会安全气候对安全行为和满意度的影响:以虚拟现实培训的航空公司机组人员为研究对象

Korea International Trade Research Institute Pub Date : 2023-06-30 DOI: 10.16980/jitc.19.3.202306.175

Mijung Kim, Yeonu Lee

{"title":"The Impact of the Psychosocial Safety Climate on Safety Behavior and Satisfaction: Focused on VR-Trained Airline Cabin Crew","authors":"Mijung Kim, Yeonu Lee","doi":"10.16980/jitc.19.3.202306.175","DOIUrl":"https://doi.org/10.16980/jitc.19.3.202306.175","url":null,"abstract":"Purpose – The purpose of this study is to examine the influence of the policies and implementation of the psychosocial safety climate within airlines on cabin crew member safety behaviors and satisfaction through virtual reality (VR) training, with the aim of ensuring safe flights. Design/Methodology/Approach – This study was conducted to validate the established hypotheses and research models by employing 353 cabin crew members within a domestic company that provides VR training. Empirical research was executed using the SPSS 25.0 statistical package for data analysis. Findings – This study found that the psychosocial safety climate positively impacts the safety behavior of cabin crew, which is enhanced through airline VR training. Essential factors that promote organizational safety activities include management support and commitment, management priorities, organizational communication, and organizational participation and involvement. Moreover, managing the stress of flight duty-related cabin crews significantly impacts the relationship between safety behavior and training satisfaction. VR training helps improve organizational safety, and organizational efforts seem to encourage the active participation of employees in providing an environment where safe flights can be carried out. Research Implications – This study suggests the necessity of expanding and applying training programs using VR, not limited to VR training for cabin crew members, also considering the job characteristics of other departments, such as pilots and maintenance personnel. Also, this research explores methods for effectively managing human resources in airline cabin crews in accordance with the changed training methods, and provides reference materials for effectively conducting VR training in the future.","PeriodicalId":166989,"journal":{"name":"Korea International Trade Research Institute","volume":"131 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133697104","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Formulating a Blue Ocean Strategy to Revitalize the Hotel Industry: The Case of the Residence Hotel Industry in Korea 制定蓝海战略振兴酒店业——以韩国住宅酒店业为例

Korea International Trade Research Institute Pub Date : 2023-06-30 DOI: 10.16980/jitc.19.3.202306.55

Sung-Taek Lim

{"title":"Formulating a Blue Ocean Strategy to Revitalize the Hotel Industry: The Case of the Residence Hotel Industry in Korea","authors":"Sung-Taek Lim","doi":"10.16980/jitc.19.3.202306.55","DOIUrl":"https://doi.org/10.16980/jitc.19.3.202306.55","url":null,"abstract":"Purpose – The purpose of this study was to provide a systematic technique for building a blue ocean strategy for residence hotels using research methodologies on customer satisfaction aspects in marketing on a strategic canvas and an ERRC matrix. Design/Methodology/Approach – To do this, we conducted a survey among hotel visitors using questionnaire items and a self-administered data collection approach, with each item scored on a 5-point scale. Judgment sampling was utilized as the sample method. We then used the survey responses to generate an ERRC matrix using IPA analysis. Findings – According to the ERRC table, hotel attributes that fall under the Raise category include “cleanliness of rooms”, “hotel location”, and “cultural and convenience facilities around the hotel”. Hotel attributes in the Reduce category include “diversity of food and beverage outlets” and “interior decoration and design”, whereas hotel attributes in the Create category include “cultural events”, “creating cultural streets”, and “a family-friendly atmosphere”. The use of the survey results-based Blue Ocean Strategy in the formulation of innovation strategies can provide managers evaluating creative strategies and strategic generating approaches with objective and detailed suggestions. Research Implications – In the Create category, hotel attributes include “cultural events”, “creating cultural streets”, and “a family-friendly atmosphere”. This indicates that, in order to attract and maintain clients, residence hotels might separate themselves from other hotels by generating demand through the development of local cultural streets. Above all, it is vital to sell not only hotel rooms but also a warm and cozy environment reminiscent of a home.","PeriodicalId":166989,"journal":{"name":"Korea International Trade Research Institute","volume":"106 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124987283","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Effect of Trade Policy Uncertainty Spillover on Exchange Rate Volatility in Korea, China, and Japan: The Application of Network Connectedness Analysis and Panel PMG Methods 贸易政策不确定性外溢对韩国、中国和日本汇率波动的影响:网络连通性分析和面板PMG方法的应用

Korea International Trade Research Institute Pub Date : 2023-06-30 DOI: 10.16980/jitc.19.3.202306.215

C. Kim

{"title":"Effect of Trade Policy Uncertainty Spillover on Exchange Rate Volatility in Korea, China, and Japan: The Application of Network Connectedness Analysis and Panel PMG Methods","authors":"C. Kim","doi":"10.16980/jitc.19.3.202306.215","DOIUrl":"https://doi.org/10.16980/jitc.19.3.202306.215","url":null,"abstract":"Purpose – This study aims to analyze the spillover effect of trade policy uncertainty (TPU) in the United States and three Northeast Asian countries (Korea, China, and Japan). Additionally, this study examines the effect of net pairwise directional connectedness (NPDC), derived from TPUs on exchange rate volatility (ERV), as well as the causal relationship between NPDC and ERV. Design/Methodology/Approach – This study derives NPDC using the dynamic connectedness method, as developed by Diebold and Yilmaz (2012), from January 2000 to May 2022. Furthermore, the study applies the panel pooled mean group (PMG) technique and panel causality methodology, developed by Dumitrescu and Hurlin (2012), from August 2005 to May 2022 to analyze the impact of NPDC on ERV and their causal relationships. Findings – According to the analysis, the United States-China trade dispute increased the volatility of trade policy through the contraction of international trade, and COVID-19 affected the TPU regarding the stagnation of global production activities and lack of effective demand. Furthermore, this study confirms the empirical results that an increase in NPDC magnifies ERV, and there is bidirectional causality between ERV and NPDC according to time lags. Research Implications – Investors and trade firms must closely examine the interrelationship between NPDC and ERV, and effectively deal with foreign exchange markets and international trade uncertainties to reduce system risks in Northeast Asia.","PeriodicalId":166989,"journal":{"name":"Korea International Trade Research Institute","volume":"4 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130937456","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

A Study on the Standards for the Foreseeability of Damage in CISG 《公约》损害可预见性标准研究

Korea International Trade Research Institute Pub Date : 2023-06-30 DOI: 10.16980/jitc.19.3.202306.231

H. Cho, Min-Sook Kim

{"title":"A Study on the Standards for the Foreseeability of Damage in CISG","authors":"H. Cho, Min-Sook Kim","doi":"10.16980/jitc.19.3.202306.231","DOIUrl":"https://doi.org/10.16980/jitc.19.3.202306.231","url":null,"abstract":"Purpose – This research aims to provide standards for the judgment of “foreseeability” in the general principle of compensation for damages in Art. 74 of CISG. Design/Methodology/Approach – This research analyzes the legal interpretation of CISG’s provisions related to damage (Art.74~Art.77) and related precedents. Findings – The results revealed the “principle of rationality” as a criterion for judging the “foreseeability” of Art.74 of CISG. Research Implications – From a practical point of view, it is difficult to predict the outcome of disputes in a situation where there is no standard for “foreseeability” as to the extent of damages from the point of view of the party liable under CISG. Therefore, it can be said that the appropriate criteria for “foreseeability” are essential. This paper presents the “principle of rationality” as a standard for. The rationality principles were extracted from the following three provisions of Art.74, namely Art.75~Art.77. These criteria are that the item of recoverable loss must be reasonable, and the amount of recoverable damage must be reasonable. This research is meaningful in presenting standards of damages to trade transaction practitioners.","PeriodicalId":166989,"journal":{"name":"Korea International Trade Research Institute","volume":"24 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132513962","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Business Group Internationalization Literature Research: Focusing on Korean Chaebols and Japanese Keiretsu 企业集团国际化文献研究:以韩国财阀和日本经连为中心

Korea International Trade Research Institute Pub Date : 2023-04-30 DOI: 10.16980/jitc.19.2.202304.175

Y. Ryu, K. Kim

{"title":"Business Group Internationalization Literature Research: Focusing on Korean Chaebols and Japanese Keiretsu","authors":"Y. Ryu, K. Kim","doi":"10.16980/jitc.19.2.202304.175","DOIUrl":"https://doi.org/10.16980/jitc.19.2.202304.175","url":null,"abstract":"Purpose – Business groups in Korea and Japan have different national environments. It will be possible to examine how their corporate governance affects performance and finance, and how it affects economic development and innovation through literature research related to the field of international management. Design/Methodology/Approach – This study reviewed domestic and foreign papers related to keiretsu and chaebol from 2001 to 2020. As a result, we selected and analyzed 39 foreign journals and 6 domestic journals, a total of 45 papers. Findings – It was found that interest in the impact of each factor on corporate performance, such as internationalization, resources and capabilities, business group attributes, and corporate governance, was high. It was found that research related to Asian business groups, especially chaebol and keiretsu, is so closely related to corporate performance that it cannot be considered separately. However, domestic journals only focused on chaebol research, and there was no research on keiretsu. Research Implications – It is expected that the roles and discussions of business groups will be expanded by reviewing existing literature on Korea’s chaebol and Japan's keiretsu among business groups, and reviewing comparative literature under different corporate governance structures. In addition, it will serve as an opportunity to identify the direction of academic research through a literature review of business groups in the two countries.","PeriodicalId":166989,"journal":{"name":"Korea International Trade Research Institute","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-04-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126162465","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0