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The Effects of Economies of Scale and Technological Catch up in Firm Level Total Factor Productivity Convergence
[Abstract]
This study explored the effect of economies of scale and technological catch up on firm level total factor productivity convergence process, using a panel data set of manufacturing firms from the Korean Innovation Survey for the period 2012-2018. The results show that there is convergence for the period as a whole, but the speed of convergence slows down after 2010. Most of the convergence seems to be due to non-technological factors rather than due to technological catch up or diffusion. The diversion of total factor productivity between large and small firms seems to dampen the overall convergence effect.
Cross-Sectional Earnings Models and Earnings Forecasts: KOSPI vs. KOSDAQ
[Abstract]
This study examines and validates the earnings forecasts generated by two cross-sectional earnings models in KOSPI market and KOSDAQ market, respectively, which are recommended by Li and Mohanram(2014) for the period from 2011 to 2019. The earnings forecasts generated by cross-sectional earnings models in the KOSDAQ market are more validated than those in the KOSPI market in terms of forecast accuracy, forecast bias, and earnings response coefficient. In the analysis using another sample of firms with analysts¡¯ earnings forecasts, we have similar results, where the earnings forecasts generated by cross-sectional earnings models in the KOSDAQ market are more validated than those in the KOSPI market in terms of forecast accuracy and forecast bias. There is no statistical difference between the earnings response coefficient in the KOSPI market and that in the KOSDAQ market. It is not because firms are listed in the different markets but rather due to the fact that firms with analysts¡¯ earnings forecasts in the KOSDAQ market become similar to the firms in the KOSPI market which are bigger and more profitable than those without analysts¡¯ earnings forecasts.
Directive on Corporate Sustainability Due Diligence and ESG Strategies of Korean SMEs: Focusing on Keyword Network Analysis
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[Abstract]
In this study, keywords were collected from ¡®The Directive on Corporate Sustainability Due Diligence¡¯ and news articles on the themes of ¡®SMEs¡¯, ¡®sustainability due diligence¡¯ to analyze the keyword network. This study presents ESG strategies of Korean SMEs in order to respond ¡®The Directive on Corporate Sustainability Due Diligence¡¯ based on the keyword network analysis results analyzed in this way. As a result of keyword network analysis, keywords such as adverse impacts, due diligence, and sustainability were suggested important in ¡®The Directive on Corporate Sustainability Due Diligence¡¯, and keywords such as SMEs, shared growth, and cooperation were presented as important keywords in news articles. Based on the keyword network analysis results, this study presents internalization of ¡®The Directive on Corporate Sustainability Due Diligence¡¯, rapid countermeasures, innovative growth to reduce carbon emissions, cooperation with large companies, and shared growth as ESG strategies for Korean SMEs.
The Relationship between Job Demand and Employees¡¯ Job Satisfaction in Small and Medium Enterprises: The Moderating Role of Conscientiousness
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[Abstract]
The purpose of this study is to understand the job characteristics of Small and Medium Enterprises (SMEs), and to increase employees¡¯ job satisfaction in SMEs. To achieve these goals, this study attempts to examine the direct relationship between employee¡¯s job demand and job satisfaction, and to investigate the moderating role of their conscientiousness on the main effect in SMEs. Based on goal-setting theory, job demand-control model, and personality theory, this study predicts that job demand and job satisfaction will have a non-linear relationship, and employees¡¯ conscientiousness will moderate this main effect. To test these hypotheses, this study used 575 employees from KEEP (Korean Education & Employment Panel) dataset as a sample. The analytical results showed that job demand had an inverted U-shaped relationship with job satisfaction. Furthermore, this main effect varied depending on the employee¡¯s personality. In particular, conscientiousness positively moderated the relationship between job demand and job satisfaction. These results showed that distinguishing particular types of personality is meaningful in enhancing our understanding of the relationship between job demand and job satisfaction in SMEs.
A Study on the Priority of Components of Non-R&D Support Business Using AHP Method
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[Abstract]
This study compares and analyzes the priority of each component of the government's non-R&D support business so that SMEs can overcome the difficulties caused by changes in the external environment and have global competitiveness. To conduct the study, we used the Analytic Hierarchy Process (AHP) to compare and analyze the priority of each component of the non-R&D support business and then conducted t-test for comparative analysis between groups. The results of the study showed that business support had the highest priority in the upper factors, and pioneering market had the highest priority in the lower factors. As a result of this study, it provides policy implications so that the government can find various support methods in establishing policy direction of support business in the future.
The Effects of the Fit between Environmental Uncertainty and Competitive Strategy on SMEs¡¯ Performance
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[Abstract]
This is an empirical study on whether the environmental-strategy fit between environmental uncertainty and competitive strategies of SMEs affects organizational performance, and the role of organizational characteristics and managerial characteristics in the process. The analysis was conducted using panel data of 3 years for SMEs in Daegu city. As a result of the regression analysis, it was found that the environmental-strategic fit of the differentiation strategy had a significant effect on both the investment return and product competitiveness, but the environmental-strategic fit of the low-cost strategy did not show any significant effect on the performance. It was found that developmental culture weakened the relationship between environment- strategy fit and investment return in the case of a low-cost strategy, but positively strengthened the relationship with product competitiveness. The suggestion program and entrepreneurship showed the same results, but only when it was a differentiation strategy in response to environmental uncertainty, it was found that the relationship between investment return and product competitiveness was positively strengthened. This study is significant in that it is a longitudinal study considering the passage of time for SMEs and that it examines moderating effects in the relationship between environment-strategy fit and performance.