• Journal of Venture Innovation
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• v.6 no.2
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• pp.123-144
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• 2023

In the age of 100 years, it had become very important to prepare for unexpected dangers. This study was conducted to analyze the factors affecting the sales performance of financial planners. We analyzed the influence relationship of sales training, sales management, and customer orientation on sales performance, and furthermore, analyzed the impact of these influence relationships. To this end, sales training was subdivided into customer development, sales competency, and learning agility. Customer orientation was subdivided into the use of customer management system, SNS use, and customer service provision. Sales management was subdivided into goal orientation, manager leadership, and compensation system. The effect of these detailed variables on sales performance was empirically analyzed. To this end, a survey was conducted targeting currently active financial planners. The survey was conducted for a month in January 2023, and 250 valid samples were analyzed. The results of the empirical analysis were as follows. Customer development and learning agility had a significant positive (+) effect on sales performance. Sales competency were not tested for significance. Among customer orientations, SNS use and customer service provision had a significant positive (+) effect on sales performance. The use of the customer management system was not tested for significance. Among sales management, goal orientation and compensation system had a significant positive (+) effect on sales performance. Manager leadership was not tested for significance. The influence of variables that significantly affect sales performance was in the order of goal orientation, customer service provision, compensation system, slearning agility, customer development, and SNS use. Based on these research results, academic and practical implications were presented.

• The Korean Journal of Financial Management
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• v.14 no.2
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• pp.253-271
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• 1997

본 연구는 1988년부터 1994년까지 우리나라 주식시장에 상장된 IPO 주식의 장단기 성과를 분석하고, IPO 기업들의 상장 후 영업성과를 상장 이전의 영업성과와 비교하는 데 그 목적이 있다. 본 연구의 특징은 가격제한폭 제도가 상장 후 IPO 주가에 미치는 영향을 고려한 점에 있다고 할 수 있으며, 실증분석 결과 다음과 같은 사실들을 발견하였다. 단기적으로 볼 때, IPO 주식의 비정상 최초수익률은 가격제한폭을 고려하여 측정하는 경우에 훨씬 더 높게 나타나며 또한 상승시장의 경우에 더 높게 나타난다. IPO 주식은 상장 이후에도 추가적인 초과수익을 올리며, 상장 직후에 과잉반응 현상을 동반한다. 장기적으로 볼 때, IPO 주식의 수익률은 시장 평균수익률에 미치지 못한다. IPO 기업들의 영업성과가 상장 이후에 현저히 악화되는 것으로 나타난다. 이는 IPO 기업들이 공개모집을 하는 과정에서 기업내용을 과대포장(window-dressing)하는 증거라고 볼 수 있다.

• Proceedings of the KAIS Fall Conference
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• 2009.05a
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• pp.401-404
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• 2009

국내 보험사 FC의 사업 영속성은 1년 이내로 짧기에 창업이전에 FC에 대한 정확한 분석을 통해 창업 성공률을 높여야 할 필요가 있다, 이는 FC 본인뿐만 아니라 해당 기업의 성과에도 영향을 미치는 핵심적인 문제이자 관심사이다. 이에 본 연구에서는 인간행동 유형에 대한 문헌고찰을 통해 William M. Marston의 DiSC 행동모델을 사용하여 FC의 행동유형과 영업성과간의 상관관계를 분석하였다. 분석 결과 첫째, 주도형(D형), 신중형(C형)행동경향의 경우 영업성과 변인별로 유의미한 관계를 보였다. 주도형 행동경향의 경우 총수수료와 보유 고객면에서 높은 성과를 나타냈으며, 신중형(C형)행동경향의 FC는 행동경향이 높을수록 영업성과면에서는 평균에 못미치는 낮은 결과를 나타냈다. 본 연구가 시사하는 바는 계속적으로 증가하고 있는 국내FC의 창업성공률을 높이기 위해서는 사전에 FC의 주요 행동유형을 분석할 필요가 있으며, 이를 통해 영업성과를 극대화 시킬 수 있는 주도형 행동경향의 FC육성을 위한 창업교육이 사전에 반드시 필요하다는 점이다.

• The Korean Journal of Financial Studies
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• v.4 no.1
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• pp.93-122
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• 1998

본 연구는 1988년부터 1990년까지 공개한 249개 제조업을 대상으로 기업공개를 전후하여 사기업이 공개기업으로 전환하는 과정에서의 변화를 분석하였다. 즉, 공개 전후의 재무적 특성, 영업성과, 소유구조, 배당정책의 변화를 분석하였다. 또한 상장 후 장기주가행태를 살펴보고 영업성과와의 관련성도 분석하였다. 249개 공개기업 중 상장 3년 후에는 오직 71%의 기업만이 정상적인 영업을 할 정도로 영업성과는 악화되었다. 상장년도의 총자산영업이익률과 자기자본순이익률은 기업공개와 함께 급감하며 이후에도 계속 하락하였다. 부채비율은 상장년도에 크게 감소하나 이후 점진적으로 증가하여 5년 후에는 상장 1년 전의 수준으로 증가하였다. 대주주 1인 지분율은 공개 이후 점진적으로 하락하며 지분을 변화는 상장직전의 지분을, 신주모집비율, 자본금 증가와 부의 관계를 갖는다. 공개 전에 배당성향은 매우 낮고 현금배당을 지급한 기업수가 작으나, 상장 이후에는 배당성향이 증가하고 차등배당을 실시하는 기업의 수가 증가하였다. 또한 공개 전에 대주주에게 과도한 배당금을 지급한다는 증거는 없었다. 상장 후 60개월의 누적평균초과수익률은 -15%이며, 산업별로 큰 차이가 나타난다. 기간별 누적초과수익률은 기간별 영업성과의 변화와 정의 유의적인 관계를 갖는 것으로 나타났다.

• Journal of Venture Innovation
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• v.6 no.2
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• pp.101-121
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• 2023

The purpose of this study was to investigate the impact of issue leadership by sales managers on sales team performance, while examining the mediating role of team adaptive sales behavior and the moderating effect of team-member exchange (TMX). Data was collected from 125 sales teams, and both independent and dependent variables were measured with a time difference of two months using responses from sales managers and team members. The empirical analysis revealed several important findings. Firstly, the study found that issue leadership had a significant positive effect on sales team performance. Secondly, team adaptive sales behavior was found to partially mediate the relationship between issue leadership and sales team performance. Lastly, the study revealed that TMX moderated the relationship between issue leadership and sales team performance. These findings have significant academic and practical implications. Firstly, the study demonstrates the effectiveness of issue leadership as a sales leadership style in the B2C industry. Secondly, it highlights the importance of team adaptive sales behavior as a mechanism that mediates the relationship between issue leadership and sales team performance. Lastly, it underscores the significance of TMX as a situational factor that moderates the relationship between issue leadership and sales team performance. In practice, the results suggest that organizations should focus on developing issue leaders, fostering creative sales behavior at the team level, and activating social exchange within sales teams to enhance sales team performance.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.12 no.6
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• pp.49-63
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• 2017

The purpose of this study is to analyze the effects of the collective characteristics of SMEs on M&A activity on the disclosure effect of mergers and long-term business performance after mergers. From 2000 to 2012, we examine 717 cases of small and medium-sized enterprises (SMEs) using multiple regression analysis and difference analysis. The results of this study are as follows. First, it is confirmed that the effect on the merger announcement effect is the same as the previous study on the Korean capital market listed companies except for the effect of diversification, listing effect, and cross-border effect. In addition, we have found that firms with higher performance in the past have higher excess returns in the disclosure effect of mergers and acquisitions. Second, unlike the previous studies that non-related mergers have a positive effect on long-term operating performance, for the characteristics of SMEs with lower market competitiveness than that of average listed companies, SMEs merging with same industry group companies have a positive effect on long-term operating performance. This study provides a new perspective on the merger and acquisition of SMEs by examining the effects of M&A announcement and long-term performance.

• The Journal of the Korea Contents Association
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• v.8 no.7
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• pp.233-242
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• 2008

Sales-force management practices(e.g., selection, training, rewards, evaluation) constitute a crucial aspect of the sales force control system, as they influence on the salesperson's role ambiguity, satisfaction and performance. But it is difficult to find studies on the effects of hotel's sales force control system. So, we studied about this subject more deeply. The purpose of our research is to examine important relationships among sales force control system(e.g., sales territory design, training, reward, training, supervisor's support), job attitudes(satisfaction and role ambiguity), and sales force performance. A conceptual model is presented and hypotheses are developed. This study contributes to sales management research of hotel sales person in some important ways. This study offers new insights both to sales practitioners and researchers. First, this study introduces a new approaching method for developing new model of hotel sales-force research. Second, in the practical implications, managers should take actions as like an encouragement, direction, monitering, and education of sales know-how to reduce the employee's role ambiguity and to improve job satisfaction and sales performance.

• Journal of Distribution Research
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• v.11 no.4
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• pp.49-70
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• 2006

This study aims to identify the effect of information quality of CRM and salespersons' adaptive selling behavior(ASB) on their performance. For this research goal, the authors established research model and hypotheses which focus to the mediating role of quality of customer relationship. The results of empirical analysis show that information quality of CRM has no direct effect on salesperson performance and just indirectly influence to it via quality of customer relationship. Compared to this result, ASB directly and indirectly affects on performance. These results suggest that the most important thing to enhance salesperson performance is the maintenance of good relationship with customers.

• The Journal of the Korea Contents Association
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• v.13 no.9
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• pp.355-368
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• 2013

In securities companies where corporate management performance is heavily dependent on the ability of salespeople, excellent sales-force with the ability to create high performance is very important. However, in the meantime, there was lack of studies on Private Banker's characteristics and sales behavior or sales performance. This study analyzed the effect of PB's characteristics on sales behavior in the Korean Securities Industry. The survey was conducted in March, 2013. 523 responses were used in the data analysis. As a result, PB's 4 characteristics- attitude to work, performance orientation, learning orientation, customer orientation- showed a positive impact on the sales behavior, and the organizational support showed positive moderating effect on this model. In this study, we reported that securities companies must reinforce training and self-development programs in order to improve the characteristics of the PB and to upgrade management performance. In particular, the securities has to rebuild organizational support system to improve the individual characteristics of the PB.

• The Korean Journal of Financial Management
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• v.20 no.1
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• pp.331-339
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• 2003

We investigate long-run relationships between industry relatedness, operating performance, and stock performance after equity carve-outs(ECO). For homo-industry ECOs, 12-month CAR of subsidiary firms is 26.52% and significantly positive at the 5% level and BHAR is 22.19%. For hetero-industry ECOs, subsidiary 12-month CAR and BHAR are 35.14% and 39.64%, respectively, which are significant at the 1% level. On the other hand, long-run performance of parent firms is insignificant for any sub-sample. Excess operating performance of subsidiaries is significantly positive at the first year and insignificant thereafter. The lower the offering ratio is and the better the operating performance is, the better the subsidiary stock performance is. Unlike IPOs and SEOs, shareholders of subsidiaries benefit from ECOs and parent stocks do not underperform. Hetero-industry ECOs improving corporate focus are more effective restructurings than homo-industry ECOs.