• The Journal of the Convergence on Culture Technology
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• v.9 no.2
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• pp.319-325
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• 2023

This study investigates the impact of over-investment on the market value of cash holdings. In addition, this paper examines whether the effect of over-investment on the value of cash holdings differs depending on firms' ownership structure. The results show that increase in over-investment reduces the market value of cash holdings. This suggests that investors perceive that over-investment deteriorates future business performance and generates excessive burdens on future cash flows. As a result, they provide negative evaluation on the market value of cash holdings. In addition, the negative impact of over-investment on the market value of cash holdings is more significant for owner manager firms where managers hold a high level of equity. Such empirical results imply that owner manager firms are more likely to use their cash holdings for private interest, therefore, over-investment reduces the cash value to a greater extent. This study provides empirical evidence that the effect of over-investment on the market value of cash holdings varies depending on the characteristics of firms' ownership structure.

• The Korean Nurse
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• v.19 no.4 s.107
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• pp.35-42
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• 1980

본 강의의 목적은 회계가 어떻게 경영자로 하여금 경영을 효과적으로 할 수 있도록 도와주느냐에 관한 것이다. 누가 회계담당자가 되고 안되고가 문제가 아니라 경영관리자는 회계지직이 반드시 필요한 것이다. 회계와 경영관리는 떼어놓을 수 없는 관계에 있기 때문이다.

• Knowledge Management Research
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• v.22 no.4
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• pp.261-282
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• 2021

As the MZ generation, who values work-life balance, became a member of the organization, leader-oriented leadership centered on goal achievement and company profit made it difficult to achieve good results in the organization in the mid-to long-term. The company must strengthen the leadership that can be helpful for the self-leadership where the members of the organization move on their own and the organizational culture that enhances the employees' job satisfaction and organizational commitment. Therefore, this study analyzed the effect of the team leader's servant leadership on the team member's self-leadership and organizational effectiveness. In addition, it was studied whether the executive officer's emotional leadership interacted with the team leader's servant leadership and had a moderating effect on the team member's self-leadership. Also, the difference in path coefficient between the MZ generation and the non-MZ generation was verified. To this end, the research model was statistically verified using the PLS (Partial Least Square) structural equation. A survey was collected from 357 team members among office workers online. As a result of the analysis, the team leader's servant leadership had a significant effect on organizational effectiveness and team member's self-leadership. Also, in the relationship between the team leader's servant leadership and the team member's self-leadership, the emotional leadership of the executive officer had a positive (+) moderating effect. The MZ generation differed from the non-MZ generation in the path where the team leader's servant leadership positively affected the self-leadership of the team member and the path where the team leader's self-leadership had a mediating effect between the team leader's servant leadership and organizational effectiveness. The results of this study will suggest various theoretical and practical implications so that executive officers, team leaders, and team members within the company can develop leadership that increases organizational effectiveness in their respective positions.

• The Journal of the Korea Contents Association
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• v.19 no.4
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• pp.423-431
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• 2019

This study examines the effect of the liability limitation provision (LLP) adoption on firm's cost behavior. In April 2011, Korea introduced the LLP with the purpose of improving the management efficiency by mitigating the risks caused by the manager's failure to make decisions related to business operation. However, there are concerns that the adoption of LLP may lead the manager's moral hazard, so the need for empirical research to verify the effect of the LLP adoption is emphasized. In this study, we analyze the effect of the LLP adoption empirically, focusing on the cost behavior that is affected by the manager's decision making. From the empirical result, we find that LLP adopted companies have strengthened the cost stickiness of selling, general, and administrative costs rather than non-adopted companies. This suggests that the manager of LLP adopted company makes a more active decision to consider adjusting costs in order to prepare for future recovery in sales when sales is reduced. This study presents empirical evidence to prove the policy validity of the adoption of LLP, and we expect that our results can contribute to the capital market and academia.

• Journal of Venture Innovation
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• v.6 no.3
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• pp.241-263
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• 2023

Recently, the aging of SME managers has emerged as a major issue in business succession. The smooth succession of small and medium-sized enterprises (SMEs), which are the industrial base of Korea, is becoming an important issue for enhancing the vitality of the national economy, such as job creation, beyond mere discussion of inheritance. At this point, this study conducted an empirical analysis on the factors affecting corporate succession intention. As independent variables, corporate Capability consisting of employee competency, marketing competency, and digital competency, human factors such as managers, successors, and third-party stakeholders, and institutional factors such as legislation, taxation, and trust were set. In addition, the effect of adjusting the sales scale was verified. To this end, a survey was conducted targeting representatives who are currently running small and medium-sized enterprises (SMEs). The total number of valid questionnaires was 315. Based on this, an empirical analysis was conducted using the hierarchical regression method. The results of the empirical analysis are as follows. First, marketing competency and digital competency, managerial competency and successor competency, taxation and trust had a significant positive (+) effect on corporate succession intention. However, a significant influence relationship between the third stakeholder, employee competency, and corporate succession intention was not tested. Among the factors that have a significant impact, the size of the influence was in the order of taxation, successor competency, executive competency, trust, marketing competency, and digital competency. Second, the size of sales was found to moderate the relationship between the variables that had a significant effect on corporate succession intention, that is, management competency, successor competency, marketing competency, digital competency, taxation and trust, and corporate succession intention. Based on these research results, academic, practical, and institutional implications for smooth business succession are presented.

• Journal of Digital Contents Society
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• v.15 no.2
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• pp.155-165
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• 2014

This study deals with the proposals and the verification of the causal relationship between improvements of corporate manager's learning attitude for enterprises productivity and managerial effectiveness, the learner's familiarity and personal character strengths that are classified as positive psychology-based theory. For this study, researchers designed the structural equation model using the AMOS analysis. And researchers conducted the interviews using a questionnaire survey of quantitative research methods. Results of the analysis are as below. First, both online and offline classes were identified as the learner's character strengths affect the positive effect to the learner's familiarity strengths. Second, the learner's familiarity affects the positive effect to improvements of learning attitude. And the last, the learner's character strengths and improvements of learning attitude are not significant effect each other, therefore researcher could be found that the role of mediating variables of the learner's familiarity strengths. In this study, researchers analyzed the relationship between familiarity strengths and improving the learning attitudes needed for a desirable curriculum development considering the learners' personality factors. These findings contribute to an ideal course of study when educator design a curriculum and contribute to a successful communication strategy.

• Information Systems Review
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• v.12 no.1
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• pp.81-105
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• 2010

This research explores the role of personal performance expectation, task-technology fit, perceived rewards, shared vision, usefulness of knowledge sharing, top management support, organization culture, organizational commitment, KMS self-efficacy as antecedents which affect knowledge sharing activity as a consequence and investigates relationships among variables considering characteristics. The results show that members' perceived personal performance expectation, task-technology fit, perceived rewards, shared vision, usefulness of knowledge sharing, top management support, organization culture, organizational commitment, KMS self-efficacy has a positive effect perspectively on knowledge sharing in a organization. Especially, the fact that perceived members' task-technology fit, perceived rewards, usefulness of knowledge sharing is more important than other variables was confirmed. The results of this study, knowledge-sharing activities of the enterprise, members of the organization's business strategy for the activation process is expected to help.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.11 no.3
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• pp.121-130
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• 2016

Amidst a competitive environment, success and innovation of a company hinge on establishment of competitive strategies through CEO's capabilities for discovering new businesses. In other words, several alternatives that are being considered as new businesses and the ensuing selection that a top management makes lead to a company's success and innovation. Examples of this are numerous among global corporations as well as Korean small and medium-sized enterprises (SMEs). This research has analyzed the role of a CEO to be a condition for success in the growth and innovation of a company. Starting from the topic of entrepreneurship, the research on the role of a CEO has been actively conducted in context with the latest innovations. A prime example involves research related to the innovativeness of a CEO. In this regard, this research was an empirical analysis on the impact that a CEO's ability to discover new business opportunities and competitive strategies has on the performance of a firm. This analysis was conducted based on nationwide data of 286 large conglomerates and smaller-sized companies alike. Based on the analysis, "experimenting" and "association", among abilities of discovery, have been found to strengthen competitive strategies. Also in the context of abilities needed for discovery, differentiation strategy has a greater effect on a firm's performance than the cost leadership strategy. Furthermore, the mediating effect of competitive strategies was prominently displayed in experimenting and corporate performance.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.10 no.5
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• pp.165-173
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• 2015

This study investigated the effects employee's intrinsic motivation and organizational feedback on organizational commitment and the moderating role organizational feedback on the relationship between employee's intrinsic motivation and organizational commitment in the workplace. Data were collected from 287 employees in the manufacturing firms. Results indicated that employee's intrinsic motivation had a positive effect on organizational commitment. Results also indicated that organizational feedback moderated the relationship between employee's intrinsic motivation and organizational commitment. Especially, The positive (+) relationship between employee's intrinsic motivation and organizational commitment was strengthened when organizational feedback was high than it was low. Implications for practice and directions for future research are discussed.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.3
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• pp.103-117
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• 2022

The recent corporate economy, such as the COVID 19 pandemic that has spread all over the world since the beginning of 2020, the acceleration of the 4th industrial revolution, and supply chain management risks triggered by the US-China conflict and the Ukraine crisis, is more serious than ever before. CEOs who have started and managed small and medium-sized enterprises (SMEs) are more concerned than ever about the sustainability of their businesses in this reality. Nevertheless, there were few empirical studies on the factors that influence the intention of SME CEOs to discontinue business. In this study, the perception of the business environment of SMEs (intensity of competition in key business areas, difficulty in manpower management), corporate competency (employee competency, company product or service competitiveness, supply chain and consumer relations, digital competency and technical expertise), and CEO's competency(trust between employees and the CEO, management competency and perceived health status of CEO) on CEO's intention to discontinue business was discussed. As a result of the study, the intensity of competition in the main business field, and the difficulty in manpower management had a positive (+) effect on the intention to discontinue the business, and the employee competency, product (service) competitiveness, digital competency of the company, and the CEO's Health status had a negative (-) effect on intention to discontinue business. The relationship between these influences was found in the order of CEO's health status, product competitiveness, employee competency, digital competency, competitive strength in the main business, and difficulty in manpower management. It was analyzed that supply chain and consumer relations, trust between employees and the CEO, and management capabilities did not significantly affect the intention to discontinue business. On the other hand, business confidence has a mediating effect between the intensity of competition in the main business field, the difficulty in manpower management, product or service competitiveness, digital competency, trust between employees and the CEO, and the management capability and intention to discontinue business was tested. This study had academic significance in that it empirically analyzed factors related to intention to discontinue business targeting small and medium-sized business CEOs. In practice, as it has been found that business environment awareness, corporate competency, managerial competency, and business confidence are factors that influence the intention to discontinue business, if an action ideas that can reinforce this part can be found, SMEs can achieve sustainable growth or it may help CEO find an meaningful exit.