• Journal of Korea Port Economic Association
• /
• v.27 no.3
• /
• pp.135-146
• /
• 2011

A voluminous research on efficiency employs the DEA(Data Envelope Analysis) models. There are, however, only very few that have an interest in the factors influencing such efficiencies. We, furthermore, do not see any studies which analyze the long-term efficiency of the logistics providers using the panel cointegration techniques. The purpose of this paper, hence, is to evaluate the efficiency, analyse its determinants and show a long-term relationship between turnover and the other variables employing the SBM(Slack Based Measure) model, Tobit model, the panel procedure and the FMOLS(Fully Modified OLS). The panel data are composed of 9 individuals and 6 years. The panel cointegrating vectors show that the group coefficient of asset and employees is not only significant but has expected signs, while some of the individual coefficients are insignificant or/and exhibit wrong signs. The panel cointegrating vectors from fully modified OLS also indicate that the estimated coefficients of the panel analysis tend to be overvalued and the asset influences the turnover far greater than the employee does.

• Journal of Digital Convergence
• /
• v.12 no.10
• /
• pp.179-189
• /
• 2014

Unlisted stocks, each country applies a systematic evaluation of the proposed regulations and how the objectivity and reliability of the valuation is trying to improve. In the case of Korea, the law relating to the assessment of unlisted stocks of a representative and 'Inheritance and Gift Tax Law' and the majority of the information in accordance with this law is. IFRS to the valuation of securities at fair value, such as unlisted stocks, but with the exception that non-marketable securities, the acquisition cost can be replaced by a well-known professional organizations calculation of the amount of stocks that the rules are followed. Therefore, in this study, together with the other examples given statutory valuation theory or technique has been referred to various valuation models in practice. It is significant to provide data that can be used to present a variety of methods for the valuation of unlisted shares and enable rationalization study. But the limitations of this study, the implication is obtained through a single enterprise, the research will continue to be applied to the case study and plan the future by the various sectors of the corporate scale.

• Korean Journal of Labor Studies
• /
• v.24 no.2
• /
• pp.409-441
• /
• 2018

This study is a case study about the Valero Energy Corporation, the largest American independent refinery company, examining the characteristics of human resource management as a union avoidance strategy. The main research questions here are whether union substitution strategy differs clearly from union suppression strategy in the context of Valero Energy. Since the establishment in 1980, the Valero had maintained non-union tradition. The typical examples of human resource management in the non-unionized American companies are easily found in the Valero, such as strong CEO leadership, manpower policy emphasizing corporate culture and teamwork, direct communication between company and individual employees, no lay-off policy and no outsourcing policy of HRM, salary level around average of industry and best level of fringe benefits in the industry, non-union tradition and well-functioned alternative dispute resolution system and so on. Until now, based on tremendous growth and profitability, the company have applied union substitution method adopted by good companies as concrete method of union avoidance strategy instead of union suppression method that marginal enterprise prefers.

• Journal of Climate Change Research
• /
• v.8 no.2
• /
• pp.91-97
• /
• 2017

Korean solar energy companies are currently suffering bankruptcy, receivership, liquidation of operation, lay-off or other similar event and most of the conglomerate are also downsized or discontinued operations in the industry. This study aims to assist Korean solar energy companies in making decision to overcome the current industrial crisis through looking into the Korean companies' growth, encounter with the crisis and strategies to survive. The main research topic in this study is a comparison between respective effect of M&A and restructuring on corporate value to understand such effects on solar energy companies. In this study, we utilized a variety of research methodologies, including dummy regression analysis, binary analysis of variance, analysis of cross addition to T-test was carried out empirical analysis. As a result, it seems that the companies who chose an M&A are facing a better situation in terms of survival and market share despite the ongoing crisis. Through this study, it could be found that, for a technology company, an M&A would be a better option than restructuring to grow and overcome a crisis.

• Journal of Convergence for Information Technology
• /
• v.9 no.8
• /
• pp.110-122
• /
• 2019

IT innovation, cultural revolution based on smart and social networks diversified sharing economy services. Due to the rising of business utilizing the sharing economy concept, it is important to better understand the motivational factors that drive and deterrent sharing economy services in the marketplace. Based on responses from 809 adult users, 3 drivers and 2 deterrents affecting intention to use of sharing economy services were identified. Then this study categorized sharing economy services as three types of segments based on consumer perceptions and subjectivity, and analyzed differencies of perceptions on motivational factors between groups. As a result, redistribution market group has shown meaningful different average scores on economic benefit, sustainability and social risk with other groups. Based on the empirical evidence, this study suggests several propositions for future studies and implications for sharing economy businesses on how to formulate optical strategies and manage users.

• Journal of Industrial Convergence
• /
• v.13 no.4
• /
• pp.11-28
• /
• 2015

A company have to grow constantly. If a company does not grow and stagnant, it will be finally out of the market. The contemporary companies fully make use of M&A to search for new growth engines. The reason of companies using M&A as a important tool of a business strategy is the fastest way to achieve technology power, market power, competitiveness. The form of M&A was that leading companies take over smaller companies or merger and acquisition between small companies in the middle of 2000. But now, Mega mergers between industry leading companies often occur and especially domestic of course M&A of foreign companies occurs actively. These days the boom of stock market and the big companies are pouring on sale by restructuring, privatization and the basis of low interest will make the M&A market continuously. In this study, I suggest a solution of actual human resources management by analyzing proven M&A cases and search for various problems of a gap in the leadership and communication in connection with integration of organization culture after M&A. First of all, I arrange the theoretical concept of the subject and analyze the key factors of the success M&A cases, lastly I suggested a HR strategy after M&A. After M&A, HR strategy is ; First, a company have to build a organization culture which is that merger company accommodate a excellent organizational characteristic of predecessor company with consideration of culture difference. Second, M&A must proceed to remove of anxiety about the future and employment stability by excellent leaderships. Third, organization integration after M&A is influenced by the level of integration for that reason it was verified that M&A have to make progress by communication of each 2 organizations.

• The Journal of the Institute of Internet, Broadcasting and Communication
• /
• v.22 no.2
• /
• pp.143-149
• /
• 2022

The diffusion of OTT service has brought the fundamental changes in the value chain of the existing media industry. OTT service based on the public Internet has increased the number of subscribers by using dominant marketing capability, making the pay TV platform player's ability to connecting users powerless. This study examined the changes in the media market and pay TV industry in the USA due to the diffusion of OTT service and analyzed the changing strategies of media firms. The number subscribers of the expensive pay TV service in the USA has diminished, experiencing cord cutting and cord shaving due the diffusion of OTT. OTT players are changing the media market, showing the dramatic excellence in making original contents and distributing the newly released movies. Examination of the recent merger and acquisition cases of media firms tells that the investment in making original contents has increased in order to have the competitiveness in OTT business. The future media industry will be rapidly reshaped mainly based OTT service and strategic judgement is important to maintain the competitiveness of all media firms in the existing value chain of media industry.

• Journal of Digital Convergence
• /
• v.20 no.4
• /
• pp.119-126
• /
• 2022

With the rise and rapid development of the "Internet+" economic model, the internet is deeply integrated with the social economy and penetrates every corner of life. Compared with expanding the scale of business operations through internal investment and capital accumulation, e-commerce companies are more inclined to directly gain control of other companies through efficient merger and acquisition (M&A). The purpose of this study is to analyze changes in financial performance before and after M&A of Alibaba, China's largest e-commerce company in the Internet era. To present the impact of M&A events on Alibaba's stock price and shareholder wealth more intuitively, this study selected the market model in the event study method to measure abnormal returns. The results show that an M&A event led to a reduction in Alibaba's shareholder wealth in the short term. This study presents the theoretical basis for the M&A performance of e-commerce companies.

• The Journal of the Korea Contents Association
• /
• v.22 no.2
• /
• pp.514-528
• /
• 2022

This study attempted to understand the characteristics of foreign direct investment by Chinese companies from the perspective of Dunning's OLI paradigm. This development of OFDI by Chinese companies was influenced by the Chinese government's policy, internal factors of the Chinese economy, and the economic and institutional environment of the investment target country. The characteristic of Chinese companies' OFDI is that investment in developed countries is gradually increasing amid regional concentration in Asia. And the proportion of tertiary industries is high, In the meantime, the structure of the secondary industry is changing. In addition, Chinese companies are gradually expanding and showing characteristics by considering the economic and political factors of the investment target country in the selection of overseas investment areas, and then selecting areas with little cultural difference from China's system. This characteristic of OFDI by Chinese companies is basically evaluated to be in line with the OLI paradigm of Dunning. However, the difference is that Chinese companies' OFDI not only advances in overseas investment using the strengths of companies, but also advances in investment to compensate for their shortcomings.

• Korea Trade Review
• /
• v.48 no.1
• /
• pp.263-285
• /
• 2023

The purpose of this study is to examine the business model, growth process, and success factors of the successful super app Gojek in the Southeast Asian and Indonesian markets. Gojek's business model analysis focused on the business canvas (9 blocks) that many companies have used to establish business models. Gojek's growth process was analyzed based on timeline. Gojek 1.0 is from the start of the ride hailing service. Gojek 2.0 is a leap forward into a life-friendly platform. Gojek 3.0 is a process of expanding and diversifying domestic and foreign businesses. Gojek 4.0 is a stage of changing to GoTo through mergers with Tokopedia, and setting a higher leap forward. Based on this, the success factors of Gojek are ① Hyperlocalization ② First mobile ③ A company that is loved through mission execution ④ Provide financial inclusion ⑤ Business expansion and diversification through mergers and acquisitions and partnerships ⑥ Entry into overseas markets ⑦ Attracting various partners and investment ⑧ Lock-in effect and hyperpersonalization. The implications obtained through this study and the limitations and direction of the study were discussed.