• Management & Information Systems Review
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• v.32 no.5
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• pp.157-174
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• 2013

In this research I investigate different firm characteristics between environment-friendly companies which are awarded by the Government and companies which violate environmental regulations. I set up three hypotheses in terms of managers' environmental attitude and firms' characteristic in technical, financial and structural aspects, considering environmental experts' opinions and findings of previous papers. Main research findings are as follows. First, both acquisition of the ISO 14001 certificate and ownership structure are used as proxy of top management attitude towards environmental decision-making. It is hypothesized that it is found that the certificates of ISO 14001 is a good proxy to represent top management environmental attitude and a firm with the certificate would have less likelihood of violation. Second, it is hypothesized that technical ability affects violation tendency of environmental regulations. It is found that as R&D investment increases, violation likelihood of environmetal regulations decrease. It can be conjectured that R&D investment may improve technical abilities of observing environment regulations. Third, it is investigated whether a firm's financial capability affects violation tendency of environmental regulations. Fourth structural aspects of a firm such as capital intensity, the number of employees and export ratio are investigated. It is found that a firm with more employees per sale amount tends to violate environmental regulations. It is not found any effects of expert ratio nor capital intensity on violation tendency of environmental regulation.

• Management & Information Systems Review
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• v.38 no.1
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• pp.1-21
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• 2019

This study focuses on (1) the relationship between the network intensity of top managers and the R&D investment of Korean firms, and (2) the moderating effects of the type (related-division vs. unrelated-division) and system (physical division vs. spin-offs) of corporate division on this relationship. The sample of this study was all type and/or system of corporate division implemented by Korean firms during 18-years (1999-2016) study periods. The results of multiple regression analyses as follow. First, as was expected in hypothesis 1 the network intensity of top managers has a strong positive linear relation with the R&D investment of Korean firms. Second, regarding the moderating effect of division type the results show that related-divisions significantly intensify the positive relationship of the network intensity of top managers with the R&D of Korean firms although unrelated-divisions did not. Third, in the analysis of moderating effect of corporate division system the results present the stronger positive moderating effect of spin-offs rather than physical divisions. The findings of the study implies that strong network intensity of top managers can be beneficial to long-term decision such as R&D investment of Korean firms. They accords to network theory that emphasize the importance of strong network effect among top managers based on their trust. The findings also implies that researchers and practitioners should consider organizational-level factors such as organizational structure, culture, corporate governance, etc as well as individual-level factors such as the characteristics and relationships of organizational members when making the decision for firm.

• Management & Information Systems Review
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• v.35 no.4
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• pp.1-19
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• 2016

The researchers in strategic management have focused on identifying the effects of CEO's demographic characteristics and experience on the strategic choices and performance of firms. On the other hand, they have failed to identifying the effects of CEO's psychological characteristics on them because of the difficulties over data collection and measurement for variables. To overcome this limitation of prior researches, this study is designed to achieve two specific objectives. The first is to examine the effect of CEO narcissism on diversification strategy and performance of listed corporations on Korean securities market in an economic downturn. The other is to examine the moderating effects of various corporate governance systems that are related to board and/or ownership structures on those relationships. The empirical setting for this study was drawn from a multi-year(2011~2014) sample of large listed corporations in Korean securities market. To achieve the objectives, the hypotheses of research are analyzed by implementing multiple regression analyses in two separate models. The results of these analyses show that CEO narcissism is positively related to the diversification of listed large corporations in Korean securities market. Regrading the moderating effects, the stake of institutional investors weakens the positive relationship between CEO narcissism and firm's diversification. The findings of this research imply that CEO narcissism can intensify the tendency of Korean corporations to adopt high-risk and high return strategy in an economic downturn. Thus, firms might be able to use CEO narcissism to drastically restructure the business portfolio in an economic downturn. However, Korean corporations should be very cautions to maximize the positive effect of CEO narcissism. They might be use the institutional investors as their corporate governance system to monitor and control the opportunism of CEO in the decision for diversification in an economic downturn.

• Digital Contents
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• no.8 s.135
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• pp.54-59
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• 2004

인터넷 포털 대전쟁이 시작됐다. 한국 통신시장을 사실상 양분하고 있는 KT와 SK텔레콤이 인터넷 포털 사업에 포문을 열고 시장재편을 위한 움직임을 본격화하면서다. KTH의‘파란’이 최근 공식 오픈하면서 포털 시장에 파란을 예고하고 있고, 미니홈피로 돌풍을 일으킨 싸이월드를 합병한 SK커뮤니케이션즈의 네이트닷컴은 업계 선두를 넘보고 있다. 여기에 최근 한발 물러서긴 했으나 영화.음악.게임 콘텐츠에서 막강한 지배력을 갖춘 CJ까지 가세해 벤처 텃밭이었던 포털 시장에 대기업을 등에 업은 공룡 등장을 알렸다. 하지만 터줏대감인 NHN.다음.야후코리아 등 전문 포털업체들도 쉽게 물러서지 않을 태세다. 이들 업체들은 검색, 커뮤니티, 메일 등 다양한 신규 서비스를 경쟁적으로 선보이며 전면전을 준비하고 있다. 이에 따라 하반기 포털 시장은 기존 인터넷 전문 포털들과 시장지배력을 갖춘 대기업 포털간의 피할 수 없는 진검승부가 예고되고 있다. 하반기 혈전이 예고되는 공룡기업과 벤처의 싸움이‘골리앗과 다윗’싸움이 될지,‘ 고래싸움에 새우등 터지는’격이 될지 주목된다.

• Management & Information Systems Review
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• v.36 no.1
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• pp.233-249
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• 2017

This study investigates the relation of managerial ability and firm performance in case of Chaebol in Korea. We employ non-financing firms at Korean markets for the period 2000-2015. Most important decision is made by the head of Chaebol which increases firm value eventually and he has such a strong dominant power that managers belongs to Chaebol have to follow mother firm's decision directions. So it is expected that managers belongs to Chaebol have to focus on long term performance rather than short term profits, which means they concentrate their managerial ability much on the firm value. Otherwise, managers in which non-Chaebol focus their ability on periodic accounting earnings. Thus, this study examines an empirical analysis on the relation of managerial ability and firm performance and the effect of Chaebol on the relation of managerial ability and firm performance. Empirical results are as follows: First, there exists a statistically significant positive relation between managerial ability and firm performance either short- or long-term. Second, we extend this relationship into Chaebol condition and find that managerial ability of Chaebol positively influences on the firm value which is long-term performance, rather than return on assets which is short-term performance. These results imply that managers belongs to Chaebol much concentrate their ability on long-term value which is differenciated from the case of non-Chaebol samples. Chaebol is an important issue in Korea because it dominates most of Korean local economy so its' impact from small changes on our economy is big enough. Our study examining the relationships between managerial ability of Chaebol and firm performance is meaningful and it is a good signal that they concentrate their ability much on the long-term value rather than short-term profits. We expect that the results of this study will provide the academic and practical references. This study will contribute to the future research in accounting through an analysis of managerial ability which is a new measure, Chaebol, and firm value.

• Journal of Korea Port Economic Association
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• v.32 no.1
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• pp.1-16
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• 2016

In this study, we explore the characteristics of directors' network structure and investigate the relationship among the network of board directors in the Korean logistics industry. Social network analysis reveals hidden patterns of the interlocking directors' network. We construct a directors' network index using social network analysis of the Korean logistics industry. Empirical results have showed that of the 23 companies analyzed, the network index of Korean Air is the highest. The interlocking network index of Korean Air, Hanjin and Hanjin Logistics Company is 0.4, 0.32 and 0.24 respectively. Korean Air has a strong central interlocking network that can create social power through the logistics industry. Our paper contributes to the broad literature in two ways. First, unlike the existing literature on director structure, this paper concentrates on the relationship among interlocking directors. Second, logistics firms need to be aware of the importance of networks and recognize the occurrence of power.

• 월간 기계설비
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• s.245
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• pp.82-83
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• 2010

올 초만 해도 자재 시장에 큰 소용돌이가 있을 것이라는 견해가 지배적이었다. 결과는 찻잔 속의 태풍으로 그쳤다. 침체된 건설 경기에 돌파구가 생기지 않은 탓이다. 오히려 부도 여파와 줄어든 수요 때문에 자재 시장은 이전 투구의 양상까지 보이고 있다. 단기적으로 큰 변화가 없다고 전제할 때 당분간은 기업 경쟁력 강화 특히 구매력 강화에 더욱 힘써야 하겠다. 즉 회사의 구매 경쟁력 요소 중 강점은 더욱 부각시켜 단가 인하의 토대로 만들고 약점은 최소화하여 단가 인상을 막아야겠다. 연말 결산의 의미에서 회사의 구매 경쟁력 수준 파악에 필요한 요소들을 점검해 보고 그에 따른 경쟁력 강화 전략도 함께 살펴보겠다.

• Digital Contents
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• no.7 s.98
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• pp.30-37
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• 2001

서비스업자들은 선택의 기로에 놓여있다. 잘못된 선택이 그들을 파국으로 치닫게 만들지도 모른다. 많은 네트워크 전문가들은 지난 몇년간에 걸쳐 네트워크 분야는 많은 성장을 한 것은 사실이나 앞으로 다가오게 될 네트워크를 생각한다면 현재의 네트워크는 그 경쟁력을 상실하게 될 것이란 견해가 지배적이다. 이 말은 생존과 생존 이상의 성공을 원하는 서비스업자라면 자신의 경쟁력을 한껏 높여줄 기술을 제대로 선택해야 된다는 뜻이기도 하다. 현재 많은 기술들이 개발자와 사용자에게 있어 관심의 대상으로 떠오르고 있다.

• Korean Business Review
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• v.19 no.2
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• pp.183-206
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• 2006

Recently, the notion of "increasing returns" has been popular not only in academia but also in industries. This notion has been drawn from prior research on network effects, which showed that the market evolution would lock in to a dominant technology. However, the long history of technological change has rarely shown the possibility of lock-in to an inferior technology. How could the market with network effects make transition between incompatible technologies regimes by escaping the lock-in? This paper analyzes the effectiveness of R&D and technological choice to investigate the sources of the dynamic capabilities in the presence of network effects and uncertain technological progress. Why does the market sometimes work against a radical technology, and why, at other times, does the market operate in favor of it? This study is to address this question by modeling the situation of two competing technologies in the presence of network effects. The numerical analysis indicates that the evolution strategy of compatibility is more likely to increase the chance of firm growth when a majority of customers are not power users or when demand for an old technology has been escalated. But when there are a substantial number of power users or when a new technology emerges before such an escalation of demand, the revolution strategy of compelling performance is more likely to be effective. The result suggests a potential mechanism for overcoming the lock-in problem. When the market exhibits some inertia to an obsolete technology, which is reinforced by the increasing customer value with respect to backward compatibility, the survival of a new technology depends on power users. When many power users are cultivated by firms' technological efforts regarding the new technology, the market is less likely to lock into an obsolete technology. Indeed, in the workstation market, where power users characterize much of the demand, innovators like Sun successfully switched to the RISC architecture.

• Management & Information Systems Review
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• v.29 no.1
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• pp.1-23
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• 2010

This study examines the impacts of outside directors' characteristics and compensation on stock performances of KOSDAQ and NASDAQ IPO firms. The results of this study indicated the following interesting results. First, there is no significant relation between outside directors' age and CARs on KOSDAQ firms. while significant positive relation between outside directors' age and CARs on NASDAQ firms. And the elder age group shows a more positive impact on performances compared with the younger age group. Second, there is no relation between outside directors' academic background and CARs for KOSDAQ firms. But We find a significantly positive one for NASDAQ firms. Third, In Relation to outside directors' careers, their professional or CEO careers group have more positive impact on stock performances than gray directors' careers group. Lastly, there is an insignificant negative relation between the outside directors' compensation and CARs for KOSDAQ firms. while there is a positive relative for NASDAQ firms. In particular, there is a significant positive relative between value of stock options and CARs for NASDAQ firms. from the result, I could find out the stock option for outside' directors have a positive influence on firm value.