• Journal of the Korean Regional Science Association
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• v.31 no.3
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• pp.55-77
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• 2015

The purpose of this research is to analyze the influence of the regional location factors to the lifecycle of manufacturing firms in the Seoul Metropolitan Area. A firm has a lifecycle in common like a household. The firm's lifecycle is divided into 4 sections such as formation, dissolution, growth and decline for the manufacturing firms as light industry, heavy industry and high-tech industry. In addition, the regional location factors are divided into 4 categories. As a result of this research, there are differences for the statistically significant location factors. In addition, the value for the explanation ability of each multiple linear regression model (adj. $R^2$) was high in the formation and growth sections than in dissolution and decline sections. It means that the local governments need differentiated policies considering their regional characteristics for the location factors by firm's lifecycle when they established policies for industry or job. From the view point of the public sectors, it is much important to focus on formation and growth of firms.

• Journal of Technology Innovation
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• v.22 no.1
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• pp.23-58
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• 2014

This study investigates the effects of product strategies and CEO characteristics on the growth of venture firms. These factors are related with strategic behaviors and managerial capabilities of small and dynamic firms. According to empirical results of FGLS regression with the data of the Korean venture firms, both product strategies and CEO characteristics have significant effects on firm growth and additionally explanatory powers. In general, the growth rates of venture firms tend to increase with the level of product's diversity and marketing-enhancing strategy, but decrease with the degree of product's innovation-enhancing strategy. The growth rates are higher when CEO is non-founder and has sufficient experience related to current business, and CEO's career development is focused on general management area. The effects of product strategies and CEO characteristics are moderated by the firm-internal factor such as organizational growth stage. The positive effects of some product strategies (e.g. marketing-enhancing strategy) and CEO characteristics(e.g. career focused on general management) become stronger for firms operating in the stage of start-up or initial growth, while their effects become negative or insignificant for firms operating in the mature or declining stage in which the negative effect of innovation-enhancing strategy does not exist.

• The Korean Journal of Franchise Management
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• v.1 no.1
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• pp.43-63
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• 2010

Currently, franchise industries are constantly rising in the domestically and it is possible to predict that franchise industries will rapidly develop internationally. Local Franchisee markets are increasing quickly and in year 2010 their income will exceed 114 trillion won. Annually, new franchise system is being born; however, there are only few industries that success in the market. When circulation market was opened for foreign franchise industries, their numbers of franchisee were rapidly increasing; however, domestic franchise industries are not securing new franchise and strengthening current franchise 's man power moreover these implements are being discarded. Therefore, in this research shows that development procedures of franchise division and utilization of personnel, and subsequent to this research indicates that changes of scales and income of cooperate growth will determine numbers of manpower on franchise industry. N ow days, when we are looking at personnel in franchise industries, they need more personnel in distribution, finance, and accounting department, so this phenomenon formalize life cycle of organization and its stages. When we are considering life cycle of organization, needs of human resource on future is important.

• Journal of Digital Convergence
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• v.15 no.1
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• pp.85-96
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• 2017

The purpose of this study investigates the relation between corporate life cycle and management compensation. The analysis is performed by comparing the compensation level and pay-performance-sensitivity (PPS) at each life cycle based on Korean data from 2003 to 2014. The results show that regarding compensation level, mature stage has the highest mean value of compensation and compensation level drops after mature stage. In introduction stage, growth and decline stages, compensation is not sensitive to accounting performance. In a while, in mature stage, management compensation varies with accounting performance more significantly than stock performance. In additional analysis, the results indicate that the finding is not designated from growth opportunities and the relation differs when the firm is included in a conglomerate. These findings contribute to the literature by providing additional evidence to understand for compensation and the corporate life cycle studies.

• Journal of Korea Game Society
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• v.11 no.2
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• pp.57-68
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• 2011

This study approaches how newly emerged game companies has implemented strategies for product diversification according to market growth cycle(beginninggrowing-mature) by empirical case study through evolutionary theory and resource based theory approach. At the beginning, online game companies had grown with different strategies(technology based, service based) by initial condition(genre, technological level, user attribute). After market growth, for product diversification, these companies carried out path-dependent alliance strategy(complementary, competitive) depending on resource base(technology capacity, service capacity based). As online game market getting mature, these companies has adapted flexibly in responding to market growth cycle by integrated strategy(naturally selected to mobilize every possible resource capability). By analyzing the alliance strategies pattern of online game companies in newly emerged game industry according to market growth cycle through combination of resource based theory and evolutionary theory, these results suggest that new industrial, theoretical, policy model is required.

• Monthly Korean Chicken
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• v.15 no.12
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• pp.98-100
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• 2009

가업승계와 상속세는 아는 만큼 혜택을 더 누릴 수 있다. 정부에서는 국내 기업의 대다수를 차지하는 중소기업을 안정적으로 성장시키고, 고용 유지, 경쟁력 강화 등에 도움을 주기 위해 중소기업의 가업승계에 세제지원혜택을 주고 있다. 이에 이번호에서는 본 제도에 대해 자세히 설명하고자 한다.

• Management & Information Systems Review
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• v.29 no.4
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• pp.23-44
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• 2010

This study examines the value-relevance of accruals and discretionary accruals. Also, by examining the effects of the corporate life-cycle on these relationship, this study is able to provide evidence of the value-relevance of accruals and discretionary accruals measures in the economic context of life-cycle theory. This study uses results based on life-cycle classification methods developed by Anthony and Ramesh(1992), adjust Jones model and Dechow Dechev(2002) model. We classify firms using individuals variables(sales growth, capital expenditure growth, employee growth) and then use a composite score obtained from all variables for classification. Our sample consists of 272 firms listed in the Korean Stock Exchange during 14 years(1996-2009). Our final sample for regression variables consists of 2,448 firm-year observations. This evidence implies that the value-relevance of accruals and discretionary accruals in the growth and mature stage can have positive impact on the price but in the decline the value-relevance of accruals and discretionary accruals can have negative impact on the price. The results mean that discretionary accruals communicate managements' private information in the growth stage, but. earnings management in the decline stage. The results of this study suggest that corporate life cycle stages influence the value-relevance of accruals and discretionary accruals measures.

• Journal of the Korean association of regional geographers
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• v.18 no.3
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• pp.283-297
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• 2012

This study aims to analyze an evolutionary path and the dynamics of the Seoul Digital Industrial Complex in Korea based on the analysis of cluster life cycles. From the mid 1960s to the late 1990s, the life cycles and their characteristics of the Seoul Digital Industrial Complex (Guro Industrial Park) are examined as emergence-growth-sustainment-decline focused on the number of firms and employees. After the late 1990s, the number of firms and employees increases rapidly and the active actors of the growth and restructuring are transformed to the technology-intensive SMEs and knowledge-based service firms. Knowledge industry centers (apartment-type factories) help evolve into the life cycle of transformation as knowledge-based clusters after the mid 2000s.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.13 no.6
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• pp.177-189
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• 2018

Business environment is always full of challenges. Despite various strategic efforts, there are so many failure cases of misfit. With the weaker resource base and institutional foundation, startup firms find it more difficult to find the right spot in the stiff competition. In the middle of evolutionary process, the startup firms need proper strategies meeting the differential challenges along the multiple stages of growth. Following the idea of product life cycle, this study applies the four stages of growth-startup, initial growth, accelerated growth, matured, and decliing. The next step for the startup manager is meeting each stage of growth with proper strategic efforts, including strategy, structure, decision-making pattern, and control method. When the knowledge factor is introduced, there is a potential for higher performance. Based on the 'Detailed Survey on Startup Ventures in 2017,' this study explores the impact of the government subsidy program on the firm competitiveness and performance-along the four stages of growth. In each stage, the strategy factors showed differential impact.

• 한국벤처창업학회:학술대회논문집
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• 2018.11a
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• pp.187-192
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• 2018

현재 급변하는 정보기술, 다양성을 추구하는 시장의 니즈, 미리 예측하지 못한 다양한 형태의 경쟁자 등의 출현으로 인해 경영환경이 급변하고 있는 것은 더 이상 새로운 현상이라고 보기는 어렵다. 이와 같이 급변하는 경영 환경은 기업 간 경쟁 심화를 불러일으키고 있으며, 경쟁 심화는 생존 및 발전을 위해 기업 특성에 맞지 않는 무분별한 전략을 활용하면서 오히려 역효과를 내고 있다는 문제를 야기하고 있다. 특히 변화하고 있는 환경 내 벤처기업 및 창업기업들의 경우 창업 후 생존율이 점차 낮아지면서 일반 기업들에 비해 경쟁력을 갖춘 기업을 찾아보기 어려운 것이 현실이다. 이에 벤처기업들은 도태되지 않고 생존하기 위해경쟁력을 강화시킬 수 있는 다양한 전략을 구사하고 있다. 벤처기업은 하나의 비즈니스 생태계 내 유기적 생명체로서 진화하기 위해 제품이나 산업의 수명주기와 마찬가지로 창업기, 초기 성장기, 고도 성장기, 성숙기, 쇠퇴기 등의 정형화된 단계를 거친다. 따라서 벤처기업은 무차별적인 전략을 통해 기업의 생존 및 성장을 도모 하는 것이 아니라 해당 기업이 놓인 수명주기 단계별로 전략, 조직 구조, 의사결정방식, 통제유형 등을 상이하게 판단하고 이에 적절한 전략을 수행해야 한다. 예를 들어, 동일 생산요소를 투입하더라도 이를 적용할 수 있는 지식이 있는 경우 더 높은 가치 창출이 가능(Aghion & Howitt, 1992) 하지만 창업 초창기의 기업은 고도 성장기의 기업보다 보유한 지식 수준 및 경험이 상대적으로 낮기 때문에 다양한 협력을 필요로 한다. 그러나 현재의 여러 선행연구들은 기업이 처한 상황을 고려하지 않은 단편적인 대처 방안이거나 혹은 부분적인 방법론을 제공하는 수준에 그치고 있다는 한계가 있다(이병헌 외, 2014). 따라서 본 연구에서는 '2016년 벤처기업정밀실태조사' 데이터를 기반으로 기업의 외부 협력 정도 및 벤처기업 지원제도 활용 정도가 경쟁력과 성과에 미치는 영향이 기업의 수명주기별로 상이하다고 보고 관련 전략 프레임워크를 제시하고자 한다.