• Journal of the Korea Academia-Industrial cooperation Society
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• v.19 no.10
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• pp.490-497
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• 2018

This study is to identify factors influencing therapeutic diversification strategy for Korean pharmaceutical companies. So, it purposes to find deciding factors for companies to adopt strategy for diversification or specialization. In this paper, we set six factors that are expected to influence diversification. The factors are asset scale, sales, profitability, and growth potential. Also, we included number of employees and SG&A cost ratio as factors that reflect business characteristics. We analyzed the impacts of each factor on diversification and found a relationship amongst each other. In this paper, regression analysis is applied with forward selection method, considering that it takes 5 years for companies to decide on diversification strategy. As a result, asset scale, the number of employees and profitability have significantly influenced decisions of diversification at t-1 time, and growth potential was significantly influenced at t-2 time. Korean pharmaceutical companies generally tend to go with specialization model if they have larger asset scale, higher profitability and growth potential. However, they have tendency to decide on diversification strategy, if they have large number of employees. Overall, the result of this study is expected to provide useful information for Korean pharmaceutical companies to set the suitable strategy for their situation to become a competitive company in global pharmaceutical market.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.13 no.4
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• pp.129-137
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• 2018

With the advent of the 4th Industrial Revolution, destructive technologies have become more frequent and companies are facing difficulties in survival with existing technologies, and companies are pursuing the survival or growth of businesses through business diversification as a countermeasure. There is a lack of research on the effects of perceived possibility of policy finance and management support, which act as a driving force of corporate growth, on firm performance. The purpose of this study is to demonstrate the effect of business diversification on the performance of SMEs. For this study, data were collected from 525 employees of 20 SMEs. Statistical analysis was performed using regression analysis. First, the product diversification and market diversification, which are independent variables of business diversification of SMEs, have a positive (+) influence on firm performance. Second, it is shown that product diversification, which is an independent variable, is controlled by the possibility of perceiving as a controlling variable in the effect of product diversification, which is a dependent variable, while market diversification during business diversification is not controlled by perception appear. This analysis suggests that SMEs need product diversification to create corporate performance. After discussing the above conclusions and implications, the direction of the research for the follow - up study was suggested.

• Journal of Digital Contents Society
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• v.11 no.3
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• pp.399-406
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• 2010

This study deals with the proposition of the diversification strategy for participation contents service based on the open IPTV policy, and the strategic implication for IPTV players. This paper demonstrates implication for activation of participation contents to IPTV players with reference to differentiation of usages and needs to internet and television. Thus this paper proposes for diversification of player's competency (1) variety of production channels for contents, (2) enhanced accessibility, and (3) the strategic consistency for industrial eco-system. Moreover, this paper suggests that device differentiation for creation of demand, boosting customer satisfaction & immersion through closely interlocking contents.

• Korean Journal of Construction Engineering and Management
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• v.6 no.5 s.27
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• pp.128-138
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• 2005

The success of mergers and acquisitions(M&A) have been evaluated by either measuring ex ante expectations for the specified time period(Window) or assessing long term-based post operating performance (ex post operating performance). In this study, utilizing cumulative abnormal return(CAR) method, M&As which are observed in both domestic and U.S. construction industries were analyzed then research outcomes are compared. Analysis results indicate that stockholders of public construction companies did not realize significant economic gains from M&As. In other words, there was no synergistic gains from the construction M&As. Also, no significant performance difference was observed between related and unrelated diversifications.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.4 no.4
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• pp.422-427
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• 2003

The purpose of this study analyzes the effects of M＆A between conglomerate and non-conglomerate corporational with 57 samples of firms during the period from 1990 to 1997 right before IMF. financial crisis. These models employed to measure effects of M＆A in this paper are both market model and market adjusted return model using test of t-statistics. Results of this article show that negative excess returns are observed for non-conglomerate mergers and positive excess gains are exhibited for conglomerate mergers. This implies that conglomerate mergers are more effective than firm specialization in terms of merger effects.

• Journal of Korea Technology Innovation Society
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• v.21 no.1
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• pp.385-419
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• 2018

This study suggests an integrated model composed of factors of industrial environments and technology capacity for corporate diversification decision based on industrial organization theory and resource based perspectives. We examine the proposed model using patents and financial data of 272 applicants for 6 years (2010~2015) in the smart factory ICT convergence technology (application and platform field) sectors. The result of analyzing the fixed effect panel model shows that technological competitiveness has a positive effect on corporate diversification. Also, the additional result of analyzing the two-stage least square fixed effect model indicates that the convergence patent ratio increases technological competitiveness. Based on the results, we provide implications for corporate diversification strategies and government R & D policies for commercialization of corporate convergence technology resources and competencies.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
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• 2023.11a
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• pp.127-128
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• 2023

해양수산 연구개발사업으로 추진하고 있는 "초고속해상무선통신망 무선설비 다각화 및 통신연계 기술개발"은 LTE-M. 무선설비 다각화 개발, 선내 극한환경 대응 무선 M-IoT 기술개발, 선박 M-S2X 기술개발 및 통신망 품질검증 객관화 고도화 연구로 구분되어 추진되고 있다. 해당 논문을 통하여 관련 주요 추진성과를 공유하고 향후 계획을 제시하고자 한다.

• Cement
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• s.164
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• pp.11-14
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• 2004

• Management & Information Systems Review
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• v.36 no.1
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• pp.291-307
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• 2017

This study analyzes the effects of global diversification level on discretion accruals and firm value. In order to verify the hypothesis of this study, the sample of securities companies was selected from 2012 to 2015, and the final sample is 2,139 firm-year. The results of this paper are as follows : First, discretionary accruals increased as the diversification level increased. We conducted an additional analysis as to whether the increase in information asymmetry due to international diversification affects discretionary accruals. As a result, the increase of information asymmetry due to international diversification increased discretionary accruals. This analysis is consistent with EI Mehdi and Seboui(2001)'s study. Second, we analyze the impact of international diversification on corporate value. In previous studies, there was no consistent conclusion about the relationship between international diversification and firm value(Christophe and Pfeiffer, 2002; Denis and Vost, 2002; Bodnar and Wenintrop, 1997; Bodnar et al., 2003). Therefore, this study hypothesizes that the increase in discretionary accruals, which have been driven by international diversification, will have an impact on firm value. Aa a result of the analysis, we found that the increase in discretionary accruals due to diversification declines the firm value. This means that the increase in discretionary accruals due to diversification is utilized as and opportunistic means by taking individual gain of managers.

• Korean Association of Arts Management
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• no.53
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• pp.153-177
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• 2020

Arts organizations commonly face a range of operational challenges, from a lack of skilled workers to limited financial resources and thus are dependent on subsidies from the government. Yet, to fully realize their mission arts organizations must both develop strategies to effectively utilize government support and seek a way forward that does not depend on public subsidies. Business diversification, a strategy from corporate management, entails the expansion of products and services, and entry into new industries, enabling companies to disperse risks and increase profits. We propose that business diversification can be effectively applied to arts organization to address the myriad operational difficulties they face. To understand how an arts organization might deploy business diversification we conducted a case study of an organization that is actively pursuing the strategy: Sanwoollim Theater. We interviewed staff members of Sanwoollim including the executive director, as well as selected audiences, to understand how the business diversification model was being applied at Sanwoollim. Our findings indicate that, in a complex arts and cultural space, business diversification is a fresh and flexible new strategy that can enable private cultural arts organizations to thrive sustainably. It is also evident that government support in the initial stages of the process encourages diversification and that successful private arts organizations will leverage government subsidies into a sustainable business plan.