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- Song Soo Sup (Sejong University)
- Lee Sang Ho (Sejong University)
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[논문다운받기]
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| This paper is an empirical analysis for the effects of firms' advertising activities on products sales. The prior researches in this field did not take into account firms' specific characteristics in the empirical analyses and thus those analyses resulted in serious bias of advertising effects on products sales. This paper shows empirically that the direct effect of advertising is underestimated and the duration of the advertising effect is overestimated when the specific characteristics are omitted in the model. Also the intangible asset theory which asserts the advertising effects sustain in the long time period not supported for the case of Korean firms. These empirical research results have important implications for the Korean firms, specially for the small and medium firms whose main marketing strategy is product differentiation, in setting up their advertising strategies. |
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- Han Keong Seok (Soongsil University)
- Noh Mee Hyun (Kimpo College)
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[논문다운받기]
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This research analyzes critical evaluation factors when the organizations for small businesses support funds. It also tries to provide the organizations supporting small businesses with appropriate evaluation criteria after studying if it would be better off to support small businesses based on different criteria such as lines-of-businesses, industries, sizes, and company histories.
We perform the factor analysis and come up with 9 factors such as a marketing factor, an export/import factor, an environmental factor, a technology development factor, a production facility factor, and employee education factor, a growth factor, an input material factor, and a computerization/automation factor. These factors are dependent variables and lines-of businesses, industries, sizes, and company histories are independent variables. That means this study analyzes the mean difference statistically using ANOVA.
This results show that organizations for small businesses have to support them based on different criteria of lines-of businesses, but do not need to support them based on company sizes and histories, because the mean differences of lines-of-businesses only are significant statistically. |
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- Sohn Yong Seok (KyungHee University)
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[논문다운받기]
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| We have studied needs of the small and medium sized firms, and have found that they lack in obtaining proper information in order to competitively set up corporative and business strategies on a particular business project, specially against the larger sized firms. We also found that the types of information they might seek are categorized into work force, products, technologies, other firms and facility uses. In this paper, possible information providing strategies for bailing out many small and medium sized firms are derived based upon the current status of their information gathering. Also, necessary provision for building the effective database is discussed. |
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- Ahn Jong Seok (Jeonju University)
- Park Kwang Seo (Jeonju University)
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[논문다운받기]
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Retrenchment involving layoff, cost and asset reductions was one of the most usual activities among Korean small firms after the economic crisis in the late 1997. This study focuses on the various means of retrenchment and the priority problem among them.
Firstly, this study shows that retrenchment is the easily adopted option, though is not the comprehensive response to the organizational decline which derives from the economic downturn.
Secondly, there exist some priorities in conducting layoffs, cost and asset reductions respectively. This study shows retrenchment is more usually undertaken on factors that are easily restored from the view of resource-based management. More specifically, R&D expenditures and fixed asset have lower priority than other operation-related expenditures and current asset respectively. And hourly employees have higher priority than exe cutives, middle managers, and front line supervisors in undertaking retrenchment. |
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- Kwon Jong Wook (Korea University)
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[논문다운받기]
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This paper investigated the organizational commitment of the employees of Korean and Japanese small and medium companies. The two subdimentions of the organizational commitment, loyalty and identification were analyzed, using Porter & Steer's 9 item measure. The organizational commitment of Japanese was found to be significantly higher than that of Korean SMEs employees.
Among various factors determining the level of organizational commitment, age was found to be significant in explaining the organizational commitment of Japanese employees. On the other hand, age, job identification, welfare system, relation, and career development were found be significantly related to the organizational commitment in Korean employees. Overall, job identification, job career development, relation had significant impact on the organizational commitment both Korean and Japanese SMEs employees. |
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- Kong Myung Jai (Keimyung University)
- Kim Pyung Kee (Konyang University)
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[논문다운받기]
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Under imperfect capital markets, the change of internal finance may affect all the components of corporate investment. This paper tries to estimate the model of R&D investment containing the variable of internal finance in order to examine the relation between R&D investment and internal finance. For empirical analysis, panel data of 105 Korean manufacturing firms, developed by Korea listed companies association, are used. The sample periods are from 1993 to 1995. This paper deals with all firms, then divides them according to their characteristics such as high tech industries, or Jaebol firms because some group of firms are expected more financially constrained in the decision of R&D investment.
Firms may not face the liquidity constraint in their R&D investment due to high adjustment costs of R&D expenditures. In fact, empirical result for high tech industries shows that internal finance is not an important determinant of their R&D investment, as expected. However, Jaebol firms are shown to face the liquidity constraint in their R&D decision, The empirical results here may widen our understanding of R&D investment of Korean manufacturing firms because financial sources may be important in deciding their corporate R&D expenditures. |
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- Nam Young Ho (Konkuk University)
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[논문다운받기]
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The purposes of this paper are to research on the status of the boards of directors of American and European family businesses; to consider a scheme and provide some suggestions of boards of Korean family businesses; to take a growing interest of family businesses to Korean academe and exe cutives.
For the purposes above, I have studied the theoretic concept, systems, and governance of family businesses, and investigated empirical data of boards of American and European family businesses, in terms of roles, structures, outside directors of family businesses.
On the basis of study results above, I suggest some propositions for providing some implications for Korean family businesses are: First, in the smallest and startup companies, the board should play a minimal role. Second, when a successful small company approaches the sibling partnership stage, it needs an active board which is composed of a majority of outside directors and the ed family members. At this stage, the companies that have outside directors might be expected to grow more rapidly than those that do not. Third, for companies at the cousin or collaborative stage, the board should grow in size as the company grow.
Further experimental and in-depth research is required for the related subject like the relationship between firms' performance and the nature of its boards. |
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- Cho Jeung Hwan (Kyungpook National University)
- Lee Won Kie (Kyungpook National University Graduate School)
- Yun Woo Young (Kyungdong College of Techno Information)
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[논문다운받기]
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This paper is to investigate the methods of harmonizing corporate accounting with tax accounting after examining the development process and the relationship of corporate accounting and tax accounting, there are some differences between corporate accounting and tax accounting in purposes, functions and characteristics.
Therefore above all it is required analysis of environmentel factors of corporate accounting and tax accounting. Specially, expansible improving the framework of accounting and academic leading of accounting standards for dramatical changes of economic conditions is requires to harmonize and develop corporate accounting and tax accounting. |
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- Kwon Myung Joong (Yonsei University)
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[논문다운받기]
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| This paper examines the factors which may have impact upon the growth and survival of new small and medium sized firm both theoretically and empirically. The theories are based upon 'transaction relationships between new firms and their suppliers', 'survival capability in the competition process' and 'the sustainability of the firm in the period of demand decrease'. Three contestable theories are tested upon a data set of 78 firms. The results indicates that the factors which influence 'survival capability in the competition process' and 'sustainability of the firm in demand crisis' are vital to the growth and survival of start-up companies. |
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- Yoon Seong Min (Pukyong National University)
- Hong Jang Pyo (Pukyong National University)
- Jung Woo Sik (university of colorado)
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[논문다운받기]
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In this study we examine that types of collaboration between small and medium enterprises(SMEs) and large firms. We also analyze some alternative industrial policies for improving the collaboration.
The major findings of this study are as follows. First, there are three representative types of collaboration between SMEs and large firms. Second, the most efficient and stable type of collaboration is the network-type collaboration where the transaction system is very open and the subcontracting process is based on the reciprocity and the reliability. We can see this type of collaboration in the computer software industry at Silicone Valley and bicycle industry in Taiwan. Third, the continuing incentive policies, that can increase the cost of the opportunistic strategy and can reduce the transaction cost of the co-operative strategy, are necessary to construct the efficient and stable type of collaboration. |
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- Seong Yong Mo (Cheongju University)
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[논문다운받기]
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This paper makes empirical test directed towards the Dunning's Eclectic paradigm and establishing the joint of Dunning's Eclectic paradigm and Global strategic considerations in choosing Korean firms' foreign market entry mode.
This is done based on 100 responses to a survey questionnaire concerning their suggest that in case of choosing export or FDI mode an incorporation of global strategic variables into the Eclectic framework with an analysis of the entry mode choice is warranted. |
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- Nah Chong Kil (Keimyung University)
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[논문다운받기]
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| Low explanatory power of earnings on stock returns has induced to examine the information content of fundamental variables. Prior studies examining the fundamental variables have consistently shown the incremental information content of these variables above accounting earnings, but have shown mixed results regarding the variables' proxiness of earnings quality. This study examines the changes of information content of fundamental variables in relation to the accrual intensity which has been shown to be related to earnings quality. The results show that information content of fundamental variables decreases in response to accrual intensity and fundamental variables do not sufficiently represent the quality of earnings. |
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- Shin Dong Ho (Hannam University)
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[논문다운받기]
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- Lee Chol (Hongik University)
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[논문다운받기]
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| Little has been reported on the characteristics and behaviors of small and medium-sized multinational enterprises (MNEs) opening in Korea. This paper examines characteristics of a sample of Korean affiliates of small and medium-sized MNEs in terms of motivations for investment, ownership, control, and performance and relationship thereof. The sample is a group of 82 Korean subsidiaries of small and medium-sized MNEs in Korea. As a part of analysis seven hypotheses were formulated and tested. Several findings are emerged. First, the small and medium-sized MNEs consider motivations of both market-seekers and production-efficiency seekers as equally important when investing in Korea. Second, affiliates of small and medium-sized MNEs in Korea favor joint ventures with local firms rather than wholly-owned subsidiaries. Third, strong positive relationship is found between ownership rates and the degree of control that parent firms exert in the operations of subsidiaries in Korea. Fourth, the degree of control has a negative relationship is found between ownership rates and the degree of control that parent firms exert in the operations of subsidiaries in Korea. Fourth, the degree of control has a negative relationship with performance in Korea. In other words, a Korean subsidiary that is more autonomously controlled shows better performance in small and medium size MNEs. |
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- Lee Jae Ki (Hoseo University)
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[논문다운받기]
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| Recently, demand for radio spectrum resource has been rapidly increasing since products and services of wireless telecommunications (WT) started to be widely provided. This situation clearly demands that the role of WT industry in the national economy should be analyzed and related policies should be made based on this analysis. This study looks into economic impacts of WT industry using interindustry analysis. Furthermore, the author tries to an input-output(IO) table for 1995 to IO table for 1998 in order to overcome a difficulty that the most recently published IO table is for 1995. Supply-driven model and Leontief price model which have not been widely employed because of relative complicatedness, as well as demand-driven model and interindustry linkage analysis, are discussed. This study pays particular and close attention to WT industry by taking the industry as exogenous and then investigating economic impacts of it. Finally, the author presents the results which address production-inducing effects and supply-shortage effects of WT industry, interindustry linkage effects of 21 sectors, and pervasive effects of price change in WT industry. |
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