• Title/Summary/Keyword: Business Groups

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A Study on Applying Social Network Centrality Metrics to the Ownership Networks of Large Business Groups (사회네트워크 중심성 지표를 이용한 기업집단 소유네트워크 분석)

  • Park, Chan-Kyoo
    • Korean Management Science Review
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    • v.32 no.2
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    • pp.15-35
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    • 2015
  • Large business groups typically have central firms through which their controlling families establish (or acquire) new firms and maintain control over other member firms. Research on corporate governance has developed metrics to identify those central firms and investigated an impact of the centrality on ownership structure and firm's financial performance. This paper introduces centrality metrics used in social network analysis (SNA) to measure how crucial a role each firm plays in the ownership structure of its business group. Then, the SNA centrality metrics are compared with the metrics developed in corporate governance field. Also, we test the relationship between the SNA centrality metrics and firm's value. Experimental results show that the SNA centrality metrics are closely correlated with the centrality metrics used in corporate governance and are significantly correlated with firm's value.

Impact of Working Capital Management on Firm Performance in Different Business Cycles: Evidence from Vietnam

  • NGUYEN, Co Trong
    • The Journal of Asian Finance, Economics and Business
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    • v.7 no.12
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    • pp.863-867
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    • 2020
  • This study was conducted on financial data of 38 economic groups listed on Vietnam's stock market for the period 2009 - 2019 and it aims to provide an empirical evidence on the impact of working capital management policy on performance in all phases of the economic cycle of Vietnamese economic groups. The study uses FGLS estimation method with 2 dependent variables ROA, GOP, independent variables including INV, AR, AP, CCC, dummy variable representing different phases of the economic cycle, variables Control includes CAT, CR, LEV, SZ, GR. Research shows that the greater the level of investment by companies in liquid assets corresponding to a certain level of activity (shown by average days of inventory (INV), average days of collection. (AR), cash flow cycle (CCC)) the lower the rate of return on assets. The study also provides additional evidence of the negative effects of economic crisis on the performance of economic groups. The study also shows that the number of short-term asset cycles has a positive impact on operational efficiency, and the level of debt use has a negative impact on operational efficiency. This result implies that the managers of economic groups can increase the efficiency of businesses through a reasonable working capital policy.

The Impact of Health Service Quality Factors on Patient's Satisfaction According to Duration of Hospitalization (입원기간에 따른 의료서비스 품질요인이 고객만족에 미치는 영향에 관한 연구)

  • Lee, Hoon-Young;Jung, Kee-Taig;Shine, Eun-Kyu;Han, Yong-Jun
    • Korea Journal of Hospital Management
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    • v.13 no.3
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    • pp.44-68
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    • 2008
  • The purpose of this study is to identify which factors of medical service quality were considered important by patients based on survey on eight hospitals located in Seoul. We analyzed the difference in impact of health service quality factors between the two groups with short and long inpatient days. In addition, we analyzed which service factors affected the customer satisfaction more differently across the inpatient groups. We found that patient satisfaction was not different between the two groups with short and long inpatient days. But the two groups showed different priority orders of medical service factors that affect patient satisfaction. In the group with long inpatient days, the order of medical service factors are cleanness, speciality, process. In the group with short stay, important factors are speciality, cleanness and convenience of facilities. These findings imply that hospitals should set up different marketing strategies across the different inpatients groups.

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A Study on Reference Groups and Their Characteristics Influencing Business Wear Conformity (의복동조에 영향을 미치는 준거집단과 준거집단의 특성에 대한 연구 -직장인들을 대상으로-)

  • 박혜진;이은영
    • Journal of the Korean Society of Clothing and Textiles
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    • v.18 no.4
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    • pp.490-500
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    • 1994
  • The purpose of this study was to identify reference groups and their characteristics that influence career people's clothing conformity. The responses of 714 fulltime employees subject from four different cities were analyzed. Business wear used as the stiuational stimulus. The Identificational Conformity was most influenced by friends or school seniors and juniors, followed by spuse or lover and siblings. The Normative Conformity was most influenced by spouse or lover, followed by supervisors, parents or elders, customers or business counterparts, and colleagues. And it was found that career people showed more Identificational Conformity and Normative Conformity to the reference groups which regulated their clothings, had credibility and had attractiveness.

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The Concentration of Economic Power in Korea (경제력집중(經濟力集中) : 기본시각(基本視角)과 정책방향(政策方向))

  • Lee, Kyu-uck
    • KDI Journal of Economic Policy
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    • v.12 no.1
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    • pp.31-68
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    • 1990
  • The concentration of economic power takes the form of one or a few firms controlling a substantial portion of the economic resources and means in a certain economic area. At the same time, to the extent that these firms are owned by a few individuals, resource allocation can be manipulated by them rather than by the impersonal market mechanism. This will impair allocative efficiency, run counter to a decentralized market system and hamper the equitable distribution of wealth. Viewed from the historical evolution of Western capitalism in general, the concentration of economic power is a paradox in that it is a product of the free market system itself. The economic principle of natural discrimination works so that a few big firms preempt scarce resources and market opportunities. Prominent historical examples include trusts in America, Konzern in Germany and Zaibatsu in Japan in the early twentieth century. In other words, the concentration of economic power is the outcome as well as the antithesis of free competition. As long as judgment of the economic system at large depends upon the value systems of individuals, therefore, the issue of how to evaluate the concentration of economic power will inevitably be tinged with ideology. We have witnessed several different approaches to this problem such as communism, fascism and revised capitalism, and the last one seems to be the only surviving alternative. The concentration of economic power in Korea can be summarily represented by the "jaebol," namely, the conglomerate business group, the majority of whose member firms are monopolistic or oligopolistic in their respective markets and are owned by particular individuals. The jaebol has many dimensions in its size, but to sketch its magnitude, the share of the jaebol in the manufacturing sector reached 37.3% in shipment and 17.6% in employment as of 1989. The concentration of economic power can be ascribed to a number of causes. In the early stages of economic development, when the market system is immature, entrepreneurship must fill the gap inherent in the market in addition to performing its customary managerial function. Entrepreneurship of this sort is a scarce resource and becomes even more valuable as the target rate of economic growth gets higher. Entrepreneurship can neither be readily obtained in the market nor exhausted despite repeated use. Because of these peculiarities, economic power is bound to be concentrated in the hands of a few entrepreneurs and their business groups. It goes without saying, however, that the issue of whether the full exercise of money-making entrepreneurship is compatible with social mores is a different matter entirely. The rapidity of the concentration of economic power can also be traced to the diversification of business groups. The transplantation of advanced technology oriented toward mass production tends to saturate the small domestic market quite early and allows a firm to expand into new markets by making use of excess capacity and of monopoly profits. One of the reasons why the jaebol issue has become so acute in Korea lies in the nature of the government-business relationship. The Korean government has set economic development as its foremost national goal and, since then, has intervened profoundly in the private sector. Since most strategic industries promoted by the government required a huge capacity in technology, capital and manpower, big firms were favored over smaller firms, and the benefits of industrial policy naturally accrued to large business groups. The concentration of economic power which occured along the way was, therefore, not necessarily a product of the market system. At the same time, the concentration of ownership in business groups has been left largely intact as they have customarily met capital requirements by means of debt. The real advantage enjoyed by large business groups lies in synergy due to multiplant and multiproduct production. Even these effects, however, cannot always be considered socially optimal, as they offer disadvantages to other independent firms-for example, by foreclosing their markets. Moreover their fictitious or artificial advantages only aggravate the popular perception that most business groups have accumulated their wealth at the expense of the general public and under the behest of the government. Since Korea stands now at the threshold of establishing a full-fledged market economy along with political democracy, the phenomenon called the concentration of economic power must be correctly understood and the roles of business groups must be accordingly redefined. In doing so, we would do better to take a closer look at Japan which has experienced a demise of family-controlled Zaibatsu and a success with business groups(Kigyoshudan) whose ownership is dispersed among many firms and ultimately among the general public. The Japanese case cannot be an ideal model, but at least it gives us a good point of departure in that the issue of ownership is at the heart of the matter. In setting the basic direction of public policy aimed at controlling the concentration of economic power, one must harmonize efficiency and equity. Firm size in itself is not a problem, if it is dictated by efficiency considerations and if the firm behaves competitively in the market. As long as entrepreneurship is required for continuous economic growth and there is a discrepancy in entrepreneurial capacity among individuals, a concentration of economic power is bound to take place to some degree. Hence, the most effective way of reducing the inefficiency of business groups may be to impose competitive pressure on their activities. Concurrently, unless the concentration of ownership in business groups is scaled down, the seed of social discontent will still remain. Nevertheless, the dispersion of ownership requires a number of preconditions and, consequently, we must make consistent, long-term efforts on many fronts. We can suggest a long list of policy measures specifically designed to control the concentration of economic power. Whatever the policy may be, however, its intended effects will not be fully realized unless business groups abide by the moral code expected of socially responsible entrepreneurs. This is especially true, since the root of the problem of the excessive concentration of economic power lies outside the issue of efficiency, in problems concerning distribution, equity, and social justice.

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An Exploratory Study on the Acceptance Intention of Converged Healthcare Equipment Using Neuro-Tech (뉴로테크를 활용한 헬스케어 디바이스의 수용의도에 관한 연구)

  • Kang, Heekyung;Koh, Youngsam
    • Journal of Korea Multimedia Society
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    • v.24 no.1
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    • pp.134-145
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    • 2021
  • The purpose of this study is to explore the acceptance intent of groups of experts and users for converged medical equipment using NeuroTech. This healthcare equipment is applied with technology that simultaneously enhances body function and cognitive function. Interviews were conducted with groups of experts and users to investigate the acceptance of equipment. The interviews include health problems for the elderly, the need to develop medical equipment, and the effectiveness. After recording the collected historical data, we performed the data analysis in accordance with the procedures of the phenomenological analysis method. The total number of people interviewed was 27, 16 experts and 11 users. As a result of the interview, we derived seven topic groups for each of the 12 topic groups and user groups. The implications were derived based on the results.

Factors to Influence on Buying Behavior of Chinese Male Consumers regarding to Apparel Types (중국(中國) 남성(男性) 소비자(消費者)의 의류(衣類) 상품(商品) 유형(類型)에 따른 구매(購買) 행동(行動)에 영향(影響)을 미치는 요인(要因) 연구(硏究))

  • Shin, Sang-Moo;Im, Soon;Shon, Hee-Soon
    • Journal of Fashion Business
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    • v.6 no.4
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    • pp.141-150
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    • 2002
  • The purpose of this study was to investigate factors to influence on buying behavior of Chinese male consumers in regards to apparel types. Furthermore, this study provided fundamental data for marketing strategy in export apparel business to China from domestic apparel business. Returned 863 questionnaires from Chinese male consumers analyzed by factor analysis, and multidimensional scaling with SPSS10.0. The result of this study were as follows: Chinese male consumers bought formal wear with evaluating two groups of factors; one for functional (fitness, A/S, durability, and management), the other for external (brand, and trend). They bought casual wear with evaluating three groups of factors; functional/useful (price, A/S, and durability), aesthetic (color, and design), and external (brand and trend). Also they bought sports wear with evaluating three groups of factors; functional/useful(price, A/S, durability, and fabric), aesthetic(design and color), and external(brand and coordination).

The Influence of Virtuality on Social Network: A Multi-level Approach

  • Suh, A-Young;Shin, Kyung-Shik;Kim, Min-Soo
    • 한국경영정보학회:학술대회논문집
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    • 2008.06a
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    • pp.52-63
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    • 2008
  • Virtuality is a product of the information age, and as it plays a larger role in the activities of individuals, groups and organizations, the issue of how human behavior varies between virtual and physical space has become one of the most important questions facing the management environment of today. The purpose of this article is to examine how virtuality shapes individuals' social relationships within and outside their work groups. We developed a conceptual framework that explores the links between virtuality and social network based on computer-mediated communication theory and social network theory. Using data from 172 individuals of 42 project teams in 5 global business consulting firms, we tested cross-level hypotheses. The results of hierarchical linear modeling (HLM) indicate that virtuality significantly influences individual's internal tie strength as well as external bridging ties. The results also show the effects of virtual process via CMC vary along with the virtual context.

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Business Cycle and Labor Market Transitions : A Comparison among Demographic Groups (경기변동과 고용 동학에 대한 분석: 집단 간 취업-미취업 이행확률 비교를 중심으로)

  • Goh, Young-Geun;Ahn, Taehyun
    • Journal of Labour Economics
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    • v.41 no.2
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    • pp.31-59
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    • 2018
  • This study examines how the rate of transition between employment and non-employment changes with the business cycle using monthly panel data constructed from 2000-2013 Korea Labor and Income Panel Study(KLIPS). In particular, we investigate whether the transition rates are different across demographic groups when the labor market is depressed. We find that, as the labor market weakens, the transition rate into non-employment significantly increases. The rates of transition into non-employment are substantially higher for female, older and less educated groups than those for male, prime-aged and more educated groups.

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Modeling Dynamic Business Rules using A Dynamic Knowledge Approach

  • Karami, Nasser;Iijima, Junichi
    • Industrial Engineering and Management Systems
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    • v.6 no.1
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    • pp.72-82
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    • 2007
  • Business Rules are formal statements about the data and processes of an enterprise. They present projections of the organization's constraints and ways of working on their supporting information systems. Therefore, their collection, structuring and organization should be central activities within information systems. In an enterprise, business rules are used to represent certain aspects of a business domain (static rules) or business policy (dynamic rules). Hence, regarding problem domains in the organization, business rules are classified into two groups: static and dynamic business rules. The paper introduces a new concept of business rules, Extended Dynamic Business Rule (EDBR) which contains the results of the occurrence of business rule's action. The focus of this paper is in the organizing, defining and modeling of such business rules using Mineau's approach. Mineau's approach is an extension of Sowa's Conceptual Graph theory.