This study the ripple effect of RAS Method on the regional industry based on the 2005 inter-industry relation table published in 2009. According to the analysis result, it is presumed that the ripple effect of the facilitating the cultural tourism market on the national economy resulted in production inducement effect as much as some 16,959,000,000won. This amount of investment is twice as much as that spent for the facilitation of the cultural tourism market, about 8.6 billion. In addition, it is assumed that about 169 jobs were created, and the added value reached some 7,239,000,000won.
This study is limited to an empirical analysis on the economic ripple effect of the cultural tourism market fostering project. It is expected, however, that the economic effect of the cultural tourism market project on the regional community in consideration of other factors involved may be greater. With regard with regional characteristics, It has been analyzed that the effect on Gangwondo and Jejudo was higher than on other regions while the effect on Honam(Gwangju) and Chungcheon(Onyang) was relatively low.

The following study aims to provide a framework for establishing a strategy for strengthening the competitiveness of traditional market by understanding consumers’ lifestyles which are affected by social and cultural diversity.
The following study aims to provide a framework for establishing a strategy for strengthening the competitiveness of traditional market by understanding consumers’ lifestyles which are affected by social and cultural diversity.
As a result, the lifestyle was differentiated into 5 different classifications; health oriented type, passive type, trend and culture oriented type, convenience oriented type and economy oriented type. This study also provides a road map of consumer behavior by analyzing customers perception towards each segment of traditional market.

This study analyzes whether the law to regulate conglomerate distribution capital, enacted for the purpose of protecting traditional markets and small to medium-sized business owners, is in discord with the WTO General Agreement on Trade in Services, in the context of Korea where the distribution industry is dominated by conglomerates. Conglomerate distribution capital, which limitlessly expanded its commercial sphere with virtually no restrictions after prevailing in the competition with huge distributors of foreign capital, has been put on hold in business expansion due to the government’s active measures to legislate regulations. This study analyzes the legislative procedure of the law to regulate large-sized stores, enacted for the purpose of protecting small to medium-sized business owners and supporting traditional markets. Furthermore, this thesis examined whether the law violates the principle of national treatment and market access.
The government’s legislative measures appear to be inevitable measures to prevent the downfall of small to medium-sized business owners, who are being threatened by the growth of new store formats such as large discount stores. The regulatory measures to protect the Korean distribution industry will provide good precedent for developing countries which aim to efficiently control the indiscriminate store expansion of conglomerates and foreign capital and develop their distribution industry.

There was a beginnings of emergence change as so called smaller enterprises like a small size shape that was foundation tendency of around country including an advanced country by activation of global enterprise in 2000's. This influence intended to solve the economic difficulty and help of an unemployed person through offering of employment creation opportunity as a policy by government. And baby boom generation in 1955 to 1964 about 9millions has retired, leaving office early , early retirement and so on, small business become distinguished in foundation forms.
In academically after 2000's there were many studies which related small business foundation but they studied as regarded as the contents of success of foundation and failure. But market is gradually diversification according to globalism influence and standardization so market daily comes to raise the tendency of enterprise danger for unlimited competition system. In addition, gradually, customer impression, customer contend voice is higher and the enterprises aggravation burden is higher with a step. Also, traditional market is gradually robbed the position from the large size mart and outlet and so on.
Therefore small business enterprises had to grope for the new plan which could firmly keep their existing position with customer loyalty conviction through confidence construction of customer expansion and customer guarantee in order to market operation and market information for fitting customer leading. Especially, the customer loyalty and repurchase intention and continuous deal relationship became tendency which had to do positioning as the best entrepreneurship strengthening factor which had to pursue in the small business management.
This study was demonstrated as the analysis about function which was how could act with factor in repurchase intention and continuous deal relationship formation through further this confidence construction and, in the small business enterprises pursued entrepreneurship, enterprise's goal established and in the object of small business, how could influence the entrepreneurship improvement effect on small business enterprise at the market for customer impression and confidence construction of customer contend.
Through this study, after foundation and foundation trial and preparation, small business' entrepreneurship improvement factor was demonstratively analyzed through support policy, education, items, knowhow hereafter small business' foundation and education program assimilation and government's support policy understanding and practical use and kind service for customer, and customer control those concerned guideline role will be sufficiently equal to any task I conclude.

Earnings management at the time of the IPO is an important issue and has captured considerable attention of academic literatures. However, there have been few studies testing earnings management in the context of market condition, and when financial intermediaries such as venture capital (VC) involve in the IPO process. In this study, we examine the impact of market condition and VC presence onportfolio companies’ earnings managementbehavior. We find that, with empirical finding in Korea, VCs haveincentives to inflate their IPOs’ earnings for harvesting, and that the inflatedearnings are more deepened in bear market periods and when less reputable VCs are involved.

Before and after initial public offering(IPO), the ownership structure has been less-known to IPO process and the decision to list newly in Korea. This paper empirically examines that the ownership structure of newly listed firms affects the decision and IPO process with data. The examination includes the choice of underwriters as well as the effect of the change of the ownership structure on the underpricing. The underpricing is measured as the excess return of the first secondary market date closing price over the offer price. Ownership means the share of controlling shareholders.
From the data on ownership structure of newly listed Korean firms in the KOSDAQ board of Korea Exchange, examination results are as followings. First, the share of controlling shareholders deceases from 51.55% on median just before IPO to 39.15% just after IPO. Second, firms with the more share of controlling shareholders just before IPO are apt to sell less share. Third, the initial pricing an IPO is mainly affected by over demands of institutional and retail investors'. Fourth, more share of controlling shareholders just before and just after leads higher underpricing. Underpricing is negatively associated with decrease of the ownership from IPO. These imply that the ownership structure of newly listed firms at just before as well as just after IPO affects IPO process.

This paper studies the momentum profitabilities corresponding to firm credit ratings and business conditions in Korean stock market. After classifying firms into two groups such as investment grade and speculative grade we construct momentum portfolio of six-month formation and six-month holding period following Jegadeesh and Titman (1993) for each group. As a result, we found that there is a large momentum profitability during expansions for speculative-grade stocks. On the contrary, we found that there is a large contrarian profitability during contractions for the same group. We found weak momentum profitability for investment grade during any business conditions. For stocks with credit rating, we found that only momentum profitability is significant during expansion. These empirical findings are not violated when we change portfolio formation periods and holding periods. These results are partly consistent with existing literature such as Chordia and Shivakumar (2002). The momentum and contrarian profitability in low credit rating groups during expansions and contraction cannot be explained by Fama-French 3 factor model or macro economic factor model in Korean stock market.

This research addresses identifying and improving core competencies of small and middle manufacturing companies in Korea. The middle-small size companies that have little internal resources, should focus on their core competencies for sustainability and growth of business. In this scope, it is the most important thing to deduct their adequate core competency. In this study we deduct the core competencies and establish the model of core competency for the middle-small size companies by AHP. Additionally as we study the bottleneck competencies of them, we are trying to determine what is competencies to develop at once. Existing research studied core competencies by company size, type of business, period of business and so on. But we suggest practical solutions for reinforcement of competitiveness, as we deduct core competencies and bottleneck competencies that are determined by the strategy of business, manufacturing method, their focus and so on.
Consequently, the results show that competencies of technology and CEO are the most important but weak competencies for them.

The purpose of this study empirically test the effect of the replacement of the management rights on tax avoidance activity. We have derived two propositions of tax avoidance, based on the background that the firms' tax strategy is different by the change of internal and external factors which firms face on. PropositionⅠ, The level of tax avoidance is likely different before and after the replacement of management rights because it is changing the factors such as the strength of tax surveillance and the expansion of tax breaks. PropositionⅡ, The level of tax avoidance is lower succession firms than merger and acquisition firms because they attach greater importance to damaging firm image than to pursuing private interests by tax avoidance.
The sample consists 1,391 small and medium firms with replacement of management rights excluding firms reporting deficit taxable income and listed firms of 38,043 non-financial firms audited by external auditor in Korea during 2001 to 2011.
Empirical results is summarized as follows. First, The level of tax avoidance is significantly higher before than after the replacement of management rights. Second, There is significantly higher that of merger and acquisition firms than the tax avoidance of succession firms.

Family business succession is shown to play an important role for the substantiality of development and continuous growth, which grab the attention of researchers. However, a majority of family business researchers maintain that interpersonal relationship in family business is important in the process of family business succession and do not explain the interaction between family and business. Therefore, this study, first, suggests that interpersonal relationship in family business is social capital and use the social infrastructure composed of social networks, interpersonal intimacy, and communication type that Sorenson(2011a) suggested. For concrete research, this study examines the case of Chilsung textile that has been successfully succeeded for three generations. In the results of case study, the expansion of social network, the increase of interpersonal intimacy, and the development of communication type influence the succession of family business positively. And the shared belief of religion is positively associated with the formation of social infrastructure.

Based on a job demands-resources (JD-R) model, this study advances and empirically tests a conceptual model proposing the relationship between perceived customer participation (PCP), frontline employee’s work engagement and employee’s job performance (job satisfaction, organizational commitment, and organizational citizenship behavior). To explain the inconsistent findings on the effect of customer participation, this study suggests a non-linear (inverted U-shaped curvilinear) relationship between perceived customer participation and work engagement. In this research, customer orientation (CO) and frontline employee perceived fit with customer (PCF) are suggested as moderators. Based on the JD-R model, CO and PCF enhance the positive relationship and buffer the negative relationship between frontline employee PCP and work engagement. Internal and external benefits of frontline employee’s work engagement are also investigated. Based on these findings, managerial and research implications are offered at the end of this study.