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The first generation of the business that had been founded in 1960~ 1970s faces the situation to consider the succession of the family business developed by devotion of their whole lives in the critical timing to the next generation. In the process of ing the party of family business succession, it is required to consider a variety of succession types including smooth transfer to the other family member or the employee of the company, selling the company, or hiring external specialist. Foreign countries acknowledge the importance of the succession in the family owned company to perform multiple studies on the influential factors to the succession, distinction, and types of family business succession; and they utilize the results for the related policy development and the support of family owned business succession. However, few studies have been conducted on the succession of the domestic family owned business and majority of them are related to the types of succession. Considering its share and influential power in the domestic economy, it is necessary to develop the guideline and the policies to solve many issues on the succession of the family owned business by systemic studies. Hence, the impact of the main characteristics in the family owned business on the types of its succession was analyzed in this study focusing on five domains of Socioemtional Wealth (SEW) in view of Behavioral Agency Theory by Gomez-Mejia et al. (2007) using the data from 540 family owned small-to-medium sized businesses so as to analyze the issues on their business succession. Upon the empirical analysis results, it was confirmed that they were influenced to the ion of succession type by family succession > internal employee succession > external succession, for the variables of social contribution which were non-financial characteristics, internal employee succession > family succession > external succession for the intellectual properties, and family succession > external succession for the management participation of the family. The distinction of social contribution were influenced the most to the ion of the succession types. Financial factors, business performance, and R&D investment variables were not significantly influenced to their ion of the succession types. In case of simultaneous management, the family succession rate was high and it showed the control effect to strengthen ing family owned business with R&D investment, social contribution, and company history variables. The behavioral agency theory used in this study was confirmed with high explanation power on the family owned business succession. The family owned business showed the tendency to maintain SEW, and non-financial factors such as accumulated know-how and social contribution based on the long term history were significantly affected to the succession in the small-to-medium sized family owned businesses, unlike general large sized listed companies. The results of this study are expected to be helpful practically for the succession of the family owned business and to suggest the guideline for the development of governmental policy.
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This study empirically analyzes the performance of large company’s win-win export assistance programs for small and medium suppliers, especially in the absence of microeconomic studies on the determinants of SMEs’ exports in Korean Academic circles.
From the interviews with the owners of small and medium-size suppliers, it is found that there is a ‘Death Valley of Globalization'. SMEs’ globalization proceeds gradually through the stages of curiosity, frustration, hesitation, enthusiasm, and success.
This paper shows using technical analysis that large corporations can effectively promote globalization of small and medium-size suppliers by customizing export promotion program to take into account both the size and capability of the suppliers.
The empirical analysis tests the hypothesis that utilization of the program (measured as a percentage of total program actually used by the suppliers) is inversely related to the export-to-sales ratio. The hypothesis was statistically rejected, but the sign of the coefficient was consistent with the hypothesis.
Technical and empirical analysis together implies that large company’s assistance programs have to be tailored to fit suppliers’ own globalization stage. The government’s policy for SME globalization should also be changed to consider the capabilities of individual SMEs. When government and big company’s tailored assistance programs are well compatible with their development stages, SMEs are more likely to utilize them to challenge globalization, and achieve more successful results.
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There is growing concern of the international community for the environmental issues including climate change. Scholars have examined various issues regrading Green Supply Chain Management (GSCM) but they mainly have focused on why firms introduce and implement GSCM from the persecutive of manufacturers. In particular, there has been few studies of green supply chain management in Korea.
We investigate the effects of long-term relationships on green supply chain management and the relationship between GSCM and environmental performance. We also examine the relationship between long-term relationships and green information sharing, the effects of green information sharing on the GSCM. The data for this study were collected through a questionnaire survey on firms that participated in the Green Partnership Program of Korea Institute of Industrial Technology. Based on the responses of 155 firms the research model is empirically tested through a structural equation model.
We found that long-term relationships facilitate GSCM significantly as it was expected. Green purchase and green product design also appears to improve environmental performance. Long-term relationship appears to affect positively green information sharing. Green information sharing does not have a statistically significant effect on environmental performance but show positive effect on GSCM including green purchase and green product design.
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New venture growth is the process of problem recognition, organizational learning, and problem resolution. There have been many researches on the sequential process of new venture growth. This study aims to expand the understanding into more situational and uncertain context of entrepreneurial process. It is the overcoming of restrained resource by organizational learning and internal driving process to recognize and realize new business opportunity. New venture learns new knowledge to solve the emerging problems in the context. The knowledge fit seems crucial when the learning addresses the problems at hand. Moreover, entrepreneurs have to stand against all odds including market forces like competition and disruptive innovation. Some of them have higher level of the achievement needs without audacious vision so that they might wander around and exhaust time and energy fruitlessly. Some of them have a vaguely stated vision without high level of drive. To realize the business opportunity along the emergent process, there seems to be the internal driving force, that is, entrepreneurial intent or volition. There are countless predictable as well as random and accidental pitfalls. The new venture should grow out of the ‘liability of newness’ situations. There needs the ‘internal’ force to drive the entrepreneurial process against adverse conditions and negative market forces though it cannot be the sufficient condition for the growth without relevent learning and resolution of emergent problems in the entrepreneurial journey. The sample was constructed from a list of firms registered in the Small and Medium Business Administration (SMBA) in Korea. Authors conducted statistical analysis for surveyed data collected by SMBA. The sample ventures consist of 1,119 firms that have been established less than 8 years. The longitudinal 3-year lagged impacts of knowledge fit, organizational learning and entrepreneurial intent on the problem resolution are tested. The triple (RLR) process equation of the entrepreneurial journey are mathematically formulated as an exponential form of significant factors: Organizational learning of essential knowledge, knowledge fit of managerial human resource, and entrepreneurial intent. The results lead to academic and practical implications. There are some discussions on the theory building and further research in the field of entrepreneurship and related field of organizational learning.
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중소기업연구
