• International Commerce and Information Review
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• v.18 no.3
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• pp.181-201
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• 2016

In this study, transaction cost approach was applied to analysis on direct export determinants of SMEs by using key attributes of transactions, asset specificity, environmental uncertainty, frequency and marketing capability, with a parameter of opportunism. Typical Transaction Cost Analysis theory explains that when transaction cost with business channels(whether it is for buy or sell) increase, the firms integrate the channels. So it is a choice made by firms regarding direct versus indirect channels. The theory was extended to a model of choice of institutional form of direct or indirect export by a norm of opportunism in this empirical study. The survey result showed that lower level of asset specificity and marketing capability or higher level of environmental uncertainty were likely to expose indirect exporters to higher level of opportunism of direct exporter. And we also saw that indirect exporters were likely to choose direct export chanel when opportunism of exporters was higher. From the standpoint of theory, we can say that the basic propositions of the Transaction Cost Analysis, except the attribute of frequency, are supported. This study result could provide a profiling of target business areas and firms for government's policy on direct export promotion of SMEs.

• International Commerce and Information Review
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• v.14 no.3
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• pp.113-138
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• 2012

This study examined the determinants of export performance of small and medium sized manufacturing companies in Korea. Depending on the existing research, taking entrepreneurship and product differentiation capabilities as antecedents of export performance. In addition, the product differentiation capabilities examined whether the role of the mediating effects between entrepreneurship and export performance. Thus, the purpose of the study is look at the integrated model of entrepreneurship, product differentiation capabilities and export performance building and their relationship. On 152 domestic companies, empirical analysis was performed. Empirical analysis was conducted using the PLS(Partial Least Square). And analysis tools were used SmartPLS2.0. In the results of the analysis, risk tolerance and innovativeness of small and medium sized manufacturing businesses, entrepreneurs and product differentiation competence have positive impact export performance in both. Product differentiation capabilities also confirmed that it have a positive impact on the export performance of small manufacturing export enterprises. In analysis of the mediated effect in product differentiation capacity showed a significant mediated effect between innovativeness and export performance. But mediated effects did not indicate a significant risk tolerance. these results suggests the need to actively pursue innovation that more product differentiation capabilities required in export companies to small and medium-sized manufacturing. In other words, when attempting to highlight product differentiation, based on innovation, rather than risk tolerance. In terms of analyzing the mediated role of product differentiation capabilities, this study has theoretical implications for the future research to look at the antecedents of export performance from the perspective of dynamic capabilities and competitive advantage. Also, practical implications in this regard as the innovativeness and taking risks to all important to CEO of small manufacturing enterprises but, stranger in the foreign market competition environment, the role of innovation product is required on raising product differentiation capabilities are presented.

• Proceedings of the Technology Innovation Conference
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• 2005.02a
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• pp.22-41
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• 2005

본 연구에서는 기업의 기술혁신활동 결정요인을 과학기술정책연구원이 발표한 KIS(Korean Innovation Survey) 2002를 활용하여 분석하였다. 특히 혁신활동에 있어서 기업규모와 네트워크의 역할에 초점을 맞추었다. 기술혁신활동을 제품혁신, 제품개선, 그리고 공정혁신으로 구분하였으며, 기술혁신활동의 결정요인으로 이윤율, 수출비율, 해외지분, 기업연령, 시장집중도, R&D활동 착수여부, 그리고 산업별 R&D집약도 등이 추가로 고려되었다. 분석된 표본은 제조업에 속한 1,124개 기업으로 정성적 분석방법인 로지스틱 회귀모형(logistic regression)을 사용하였다. 분석결과, 첫째 기업의 기술혁신활동 결정요인은 혁신유형에 따라서 다르게 분석되었다. 예를 들어, 기업규모와 기술혁신활동에 관한 슘페터 가설은 제품혁신에서는 성립하지 않는 것으로 나타났으나. 제품개선 및 공정혁신에 대해서는 성립하는 것으로 분석되었다. 둘째, 예측한 대로 소기업과 대기업간 기술혁신활동의 결정요인에 있어서 많은 차이점이 발견되었고, 이러한 차이는 제품혁신과 공정혁신에서 현격하게 나타났다. 셋째, 기업규모 및 혁신유형에 관계없이 외부적 네트워크는 기술혁신활동에 대해 정(正)(+)의 유의한 효과를 나타내어, 혁신활동에서 협력의 중요성을 확인해 주었다. 그러나 협력대상별 네트워크효과는 기업규모와 혁신유형에 따라서 많은 차이점을 보여주었다.

• Proceedings of the Fisheries Business Administration Society of Korea Conference
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• 2005.07a
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• pp.159-190
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• 2005

• The Korean Journal of Financial Management
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• v.8 no.2
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• pp.111-129
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• 1991

본 논문에서는 재정가격결정모형(裁定價格決定模型)(Arbitrage Pricing Model)을 기초로 우리나라 주식시장에 영향을 주는 거시경제변수가 무엇인가를 찾고자 하였다. 방법론면에서는 과거변수(過去變數)(lagged variables)에 의해서만 기대치를 형성시키는 AIRMA(Autoregressike Integrated with Moving Average) 방법을 이용하기보다는 마코프속성(屬性)(Markov Property)을 갖는 상태공간모형(狀態空間模型) (State Space Model)을 이용하여 보다 합리적인 거시경제 요인의 이노베이션을 하였다. 또한 단순한 요인분석(要因分析)(factor analysis)에 의한 요인추출은 요인의 표본의존성(標本依存性)(Sample dependency)이 심하므로 그룹간 요인분석(inter-battery factor analysis)을 행하여 추정(推定)된 요인(要因)(요인값 : factor score)과 요인수를 결정하여 관련 거시경제변수를 선택한다. 그룹간 요인분석을 위한 그룹을 형성할 때 그룹내에서는 동질성을 그룹간에는 이질성을 최대한 살리는 것이 필요한데, 이를 위해 군집분석(群集分析)(Cluster Analysis)을 사용한 것이 특징이다. 결론적으로 우리나라 주식시장에 영향을 미치는 거시경제요인(巨視經濟要因)으로 단위노동비율, 제조업제품재고지수, 채권프리미엄, 수출물가지수, 정부부문 통화공급, 회사채수익률, 종합주가지수 등 7가지가 있는 것으로 분석되고 있다.

• Management & Information Systems Review
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• v.37 no.2
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• pp.87-108
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• 2018

This article explores the international trade flow of Bangladesh's ready-made garments (RMG). We first suggest the brief history and an international structure of trade among countries by using the trade volume. Then we implemented a gravity model regression with the sample of 38 major partner countries in order to investigate the potential export market for the RMG industry. The fixed effect and random effect model for the panel data during the period of 1990 to 2011 are estimated. Our result shows that Bangladesh's RMG exports are affected positively by the size of economy, inflation, exchange rate, foreign direct investment(FDI) and trade openness. On the other hand, the distance between trading partners are related negatively with the trade volume. We used the estimated coefficients from the panel regression in order to predict RMG export potential of Bangladesh. This might show which country is the promising export market for Bangladesh RMG industry. We found that Bangladesh has the highest potential of RMG export with Japan and USA, which seem to have considerable room for export growth if trade barriers and constraints are removed. We added some policy implications for encouraging the RMG export of Bangladesh by using the results from the analysis.

• International Area Studies Review
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• v.20 no.2
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• pp.63-83
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• 2016

This paper examines the determinants of efficiency in a KOSDAQ-listed manufacturing firm. We use Data Envelopment Analysis (DEA) to estimate the efficiency of the export manufacturing firm. We employ two inputs (number of employees, equity) and one output (sales) in the DEA. The determinants of export manufacturing firm efficiency are estimated using the panel Tobit model. An analysis of 369 export manufacturing firms from 2013 to 2015 indicates the following results: First, the R&D intensity, the wage and salary intensity, total asset, and equity ratio each had a negative impact on both the CCR and BCC efficiency scores. However, export intensity had a negative impact on CCR efficiency scores in a KOSDAQ-listed total export manufacturing firm. Second, the R&D intensity had a positive impact on both the CCR and BCC efficiency scores, but export intensity, the wage and salary intensity, and equity ratio each had a negative impact on the CCR and BCC efficiency scores in a KOSDAQ-listed large export manufacturing firm. Third, the R&D intensity, the wage and salary intensity, total asset, and equity ratio each had a negative impact on both the CCR and BCC efficiency scores; respectively, in a KOSDAQ-listed small and medium export manufacturing firm.

• The Journal of shipping and logistics
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• v.35 no.2
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• pp.245-264
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• 2019

With the first agrement in 2004, Korea(ROK) has been one of the most active countries participating in FTA. Companies should meet some requirements to use preferential tariff benefits of FTA. For example, it is required for firms to fulfil the origin criteria and direct transportation principles. This study is designed to provide important factors determining reliability of FTA Origin Certificate. In specific, characteries of firm(trade experience, professional expertise), country (FTA participation, economic development) and product(processing level, value pricing) are investigated as determinants of how trust FTA origin certificate. According to the theoretical foundation and previous studies, this study made 6 hypotheses. SEM(Structural Equation Modeling) was used to test empirically the hypothesized relationships among variables. The empirical findings show that trade experience, professional expertise and FTA participation are important determinants. In other words, firms can trust more FTA Origin Certificate by trading partners with more trading experiences and professional expertises located in countries where participate actively in FTA.

• The Korean Journal of Financial Management
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• v.21 no.2
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• pp.65-98
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• 2004

This paper analyzes the foreign exchange exposure and the influence of determinants on the significant exposure under various return horizons of US dollar and the Japanese yen. Also this research is extended to the existence of asymmetric exposures to foreign exchange risk. The exchange rate exposures exhibit significant time variations that are very large to represent changes in cash flow sensitivities, but the relation of the significant exposures and time variations is not monotonically increasing. The extent to which a firm is exposed to exchange rate fluctuations can be explained by the level of the growth potential, nm size and leverage. For the various return horizons, firms with a higher growth potential tend to have higher exposures. And the larger firms' exposures tend to be smaller. The influences of the level of export ratio and leverage vary with return horizons and each periods. It is found that the exposures of fins are asymmetric. The asymmetry is mainly explained by the market share hypothesis. The level of export ratio commonly influences the asymmetric exposures to the US dollar and the Japanese yen.

• KOREAN POULTRY JOURNAL
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• v.7 no.8 s.70
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• pp.61-66
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• 1975

앞으로의 국제사료곡물 시세 및 국내 주요 단미사료 시세에 큰 변동은 없을 것 같다. 만약 곡물 시세를 변동시킬 만한 요인이 있다면 현재 강세를 보이고 있는 강류사료 가격의 여하와 소련의 구매량과 구매시기, 미국의 주산지 기상조건 및 그 외 곡물 수출국가의 수출여력과 수요국가의 수요도 여하에 따라 결정지어 질 것으로 전망된다. 그리고 관세제도의 변경실시로 옥수수, 수수, 타피오카 이외의 품목은 관세가 부과되므로 특히 고열량사료인 우지 등의 수입이 어렵게 되었다. 또 배합사료 가격안정기금 확보를 위한 수입사료 부담금적립 등의 문제가 있겠으나 전반적으로 밝은 전망이다. 이러한 때를 놓치지 말고 우리 축산인 모두가 서로 협력하여 축산업의 안정적 발전을 위하여 총매진해야 겠다.