• Title/Summary/Keyword: 다국적 기업

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Localization and Subsidiary Performance of Korean Multinationals - Performance Factors by Sector and Country (한국 다국적기업 해외자회사의 현지화 수준과 경영성과 - 산업별·국가별 성과요인 비교 분석)

  • Hwang, Eunhye;Kim, Donghwan;Lee, Hongshik
    • International Area Studies Review
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    • v.20 no.3
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    • pp.81-100
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    • 2016

  • In this study we analyze the performance of overseas subsidiaries of Korean multinationals with localization in sales, purchase, and employment. We use the data of 2,116 overseas subsidiaries in 61 countries between 2008 and 2011 provided by The Export-Inport Bank of Korea. As a result, analysis shows that the effect of localization on the performance is quite different by sectors and countries which the subsidiaries have entered. In the manufacturing sector, increase of local sales has positive effect only in China, while local purchase improves the performance of the subsidiaries in developing counties excluding China. However, the subsidiaries which had made a foray to service sector in advanced countries aquired better performance with localization of sales, purchase, and employment, whereas those in China had no merit except localization of purchase.

An Empirical Study on the Long-Run Performance of Cross-Listings by Multinational Corporations (다국적기업 해외상장의 장기적인 성과에 관한 연구)

  • Kim, Dong-Soon;Park, Sang-An
    • The Korean Journal of Financial Management
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    • v.21 no.2
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    • pp.27-63
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    • 2004

  • Since the 1980s, many multinational corporations have been issuing stocks on foreign stock exchanges, not only to enhance their investor base and liquidity, but also to diversify risks. The phenomenon has also been intensified by the rapid financial globalization and securitization trends. The main purpose of this study is to look into the long-run performance of MNCs' cross-listings of stocks on foreign stock exchanges. We use the event study and cross-sectional regression methods. We obtained some interesting empirical results about the long-run effect of cross-listings. First before the listing data the effect of cross-listing is to increase the underlying stock Vice in the local market. It may be caused by expectation of lower risk and cost of capital. However, after the listing data the stock price has been declining, even if it is not significant. Second, we examine the difference in the long-run cross-listing effect, which may be caused by the listing direction. When listing is made from a less developed market to a more developed market, the effect is better than that in the reverse direction. Furthermore, the effect is worse, when the listing company's home country is the U.S. Third, there is a negative relation between CARs and underlying stock liquidity in the local market, So it implies that a firm, whose underlying stocks are very liquid in the local market should carefully value cross-listing based upon the cost and benefit analysis. Last, but not the least we find that the long-un cross-listing effect is better, when a listing firm's ROE is higher.

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중소기업대표 성공사례로 떠오른 'E-비즈니스 진원지'

  • Korea Database Promotion Center
    • Digital Contents
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    • no.2 s.81
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    • pp.48-51
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    • 2000

  • 중소기업들은 안정적이고 확장이 가능한 전자상거래 인프라스트럭처를 구현하여 e-비즈니스의 발전을 준비해야 한다. 전자 부품 유통업체인 ICS는 데이터 네트워킹 장비 유통 업계 최초로 온라인 비즈니스를 제공하고 있으며, 다국적 기업과 마찬가지로 웹의 새로운 기회를 활용할 수 있는 대표적인 중소기업으로 손꼽히고 있다.ICS는 온라인 비즈니스를 더욱 발전시켜 선두업체가 되겠다는 목표를 세우고 있다.

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새로운 시대 새로운 화두 '인수합병'

  • Song, Seung-Hun
    • 정보화사회
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    • s.182
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    • pp.4-5
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    • 2006

  • 한국의 벤처들이 성공을 하면 반드시 해외 메이저업체들이 시장에 뛰어들게 돼 있다. 다국적 기업인 그들이 일취월장하는 시장을 가만히 내버려둘 리 없지 않은가. 제 아무리 경쟁력을 가진 벤처라도 글로벌기업과의 경쟁에서 승리하기란 하늘에 별 따기만큼이나 어렵다.

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