• Journal of Venture Innovation
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• v.2 no.2
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• pp.117-126
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• 2019

This study conducted correlation analysis and multiple regression analysis using financial statements, loan structure, ROA and ROA volatility of domestic commercial banks, regional banks and special banks for the past five years (2012 ~ 2016). The result is as follows. First, as a result of correlation analysis, bank's ROA is positively related to household loans and SME loans, but it is negatively correlated with the ratio of loans to large companies, sector bias, and loan loss provision ratio. Second, ROA volatility was negatively related to household loans and SME loans, but it was positively correlated with large corporate loans, sector bias ratio, and loan loss provision ratio. Third, as a result of the regression analysis, the variables that have a statistically significant effect on the ROA volatility of banks were household loans, SME loans, and large enterprise loans. From these empirical results, special banks with high volatility in profits need to diversify loan types and sectors in order to achieve business performance outside of policy finance. and Especially, Suhyup Bank and Nonghyup Bank, which have a large commercial role, have a large size per unit by focusing on short-term profit and Rather than focusing on large companies or large loans that are easy to obtain financial information, it is necessary to focus management capabilities on household loans and SME loans by developing capabilities such as screening techniques.

• Journal of Venture Innovation
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• v.2 no.2
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• pp.65-78
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• 2019

Companies with ethical management can be said to influence the performance of an organization based on the ethical judgment of its members. In this study, ethical judgment was set up as the subject of the ethical judgment, and the ethical judgment was set up by bosses and colleagues who are members of the business and organization as the factors of ethical judgment. The research was designed to examine the impact of ethical judgment on job satisfaction and organizational civic behavior, the impact of ethical judgment on organizational trust, and analyzed the medium effect of organizational trust in the relationship between ethical judgment and job satisfaction and organized civic action. The target of this study was to survey 450 workers in Seoul, Gyeonggi Province and South Chungnam Province from October 7, 2019 to November 2, using them as empirical data. The SPS 24.0 Statistical Analysis Program was used for the analysis of data. The study confirmed that ethical judgment was affecting task satisfaction, organizational civic behavior, and organizational trust, and that parameters such as organizational trust affected task satisfaction and organizational civic behavior depending on how individuals perceive the organization. Ethical judgment has a high impact on organized citizen behavior and job satisfaction, and ethical management of how to improve ethical judgment is absolutely necessary to enhance organizational citizen behavior and job satisfaction, and it is necessary to develop and implement various programs that enable a sense of unity with the organization.

• Journal of Technology Innovation
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• v.24 no.2
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• pp.57-89
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• 2016

This paper used individual establishment level data to estimate the effects of government support for the research and development of 'small and medium enterprises'(SMEs). We analyzed, on the establishment level, the degree of technical advancement, strength of private R&D incentives, and the effect on employment levels of firms which participated in the 2010 government R&D support project. The results of this study are as follows. First, the size and frequency of government investment in the R&D of SMEs were both positively correlated with the amount of patent registrations. Furthermore, we found that the amount of patent registrations were positively correlated with the size of the establishments, but the average level of technological advancement for the firms running the research was lower than the average level of technological advancement for the firms merely participating in the project. Second, the government's R&D policy was found to be complementary to private R&D incentives, and a 1% increase in government R&D investment resulted in an inelastic increase (0.193~0.245%) of the firms' post-program R&D spending. Third, we found that R&D support from the government contributed to an increase of employment by the participating firms. Additionally, we found that the impact of R&D support on job creation varied for the firm size and technological characteristics. Therefore, it is important for governments to take into consideration each type of small business, when setting R&D policies.

• Journal of Technology Innovation
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• v.19 no.1
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• pp.145-175
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• 2011

The purpose of this research investigates the determinant factors of the joint technology development project performance between SMEs and universities. Reviewing existing papers we could categorize independent variables into three groups of partner characteristics, process management variables and relationship characteristics between partners. Three measures of satisfaction with the cooperation result, the intention of continuing relationship and the utilization of developed technology and product were used as dependent variable considering that we studied the joint projects of SMEs' involvement, short period and small scale. The data was collected by questionnaire survey mailed to the 1082 SMEs and university professors which executed the joint projects sponsored by Small Business Administration in 2009. We received 200 responses from SMEs, and 305 cases from professors among which 55 responses of each partner were on the same project. We analyzed the data sets individually, data of SMEs and that of universities with multiple regression analysis technique and also analyzed the common responses of 55 projects. Analysis results of the data from SMEs indicated that partners' expertise, facilities and equipment, communications, strategic importance, and trust were significant variables for the project performance. Analysis results of the data from universities showed that previous links, definition of objectives, strategic importance, trust and commitment were significant variables. Analysis results of combined data of 55 projects from SMEs and universities indicated that facilities and equipment, project management proficiency and commitment were significant variables.

• Journal of Korea Technology Innovation Society
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• v.12 no.2
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• pp.413-429
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• 2009

As science and technology which the society requires become highly advanced and complicated, the need of so-called Convergence Technology(CovT) is getting more significant. The major developed countries are presenting their own vision and strategies of CovT to take the lead of future society and global economies. In Korea, each ministries and government offices are suggesting their own directions of promoting CovT and supporting the related programs. This paper investigates the overall status of national and international R&D activities related to CovT in order to invigorate the related national R&D programs and maximize their effectiveness. It also purports to realize the growth potential and a ripple effect of CovT, such as new business creation and fulfillment of public needs, so that secure new CovT in an early stage. Based on the analysis of the overall status of national R&D programs, we redefine and re-categorize the CovT, which is especially oriented to the development of government support policy, and present the customized strategies to each categories.

• Journal of Korea Technology Innovation Society
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• v.12 no.2
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• pp.335-359
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• 2009

This study explores the IT governance structures of the Korean conglomerates. It investigates IT organization structures, decision making frameworks and processes, communication channels, implementation mechanisms, and performance evaluation methods around IT activities of the Korean conglomerates by analyzing four different cases. The results show that all of the conglomerates have an IT service firms as one of their subsidiaries, and all the subsidiaries in the conglomerates outsource their IT divisions to the IT service firms, The client firms in the conglomerates operate IT strategy and planning teams to coordinate their IT activities with their outsourcing partners. The IT governance archetype of the Korean conglomerates is found to be "business monarchy" because the client firms mostly make IT decisions. However, the IT service firms provide the information of IT trends and solutions to their clients, so the IT governance archetype of input framework for IT decisions can be "IT monarchy". In addition, the conglomerate which has the more centralized IT governance architecture appears to prefer the more integrated implementation mechanisms for IT decisions. The results of this study are expected to be used as a benchmarking model for the organizations which try to develop an effective IT governance structure.

• Journal of Korea Technology Innovation Society
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• v.13 no.1
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• pp.140-159
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• 2010

The main purpose of this study is to improve the understanding of the failures of venture companies. The study attempts to analyze the causes and the processes of venture failures and the different paths that led to such failures. For the research, 116 firms registered with the Korea Venture Business Association in 1997 were surveyed and traced in 2000. A questionnaire was sent to 105 companies that were operating at the time and 76 of them returned responses. In 2008, the 76 companies were re-traced, and it was found that 41 of them had failed while 35 survived. Through this process, a set of longitudinal data was gathered about the changes in strategies, environments, and organizational structures. Accordingly, t-test and ANOVA analysis were performed on the different causes and processes of venture failures, as well as the taxonomy according to the changes in circumstances. Empirical findings can be summarized as follows. Venture companies failed due to various reasons and there were very different failing processes. In addition, this study found that various failing paths existed among failed venture companies and different factors affected company failures. Considering these findings, this research is clearly advanced and can be distinguished from other existing researches in terms of the dynamic understanding of the failures of venture companies.

• Journal of Korea Technology Innovation Society
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• v.8 no.spc1
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• pp.297-322
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• 2005

The paper aims to analyze the logic and power of open source software (OSS), and to show the ways in which Korean government and companies support developing countries in the field of software development. Many developing countries are considering software industry to be a strategic industry due to the fact that software industry seems to be labor-intensive, or rather knowledge-intensive industry. In this regard, developing countries without huge financial investment can achieve certain level of economic development while leveraging software industry. Concerning software development tools, among recent trends OSS has been regarded as a viable alternative software development tool for developing countries. In developing countries, OSS is believed to resolve some difficulties caused by proprietary software such as Microsoft Windows, which is too expensive to buy for users and developers in low-income developing countries. In this sense, OSS has been considered as only solution for software developing because OSS is able to reduce the cost of software development and to enhance the technological capabilities of developing countries. In addition to the benefit of low cost, we have to shed light on the business model of OSS that is not to sell software licence, but to provide technical support and services. In order to use OSS as much as they can, developing countries have to invest for educating human resources who can develop and implement software system using OSS. These OSS-related policies can lead developing countries to developed countries.

• Journal of Korea Technology Innovation Society
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• v.20 no.3
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• pp.732-753
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• 2017

Recently, when evaluating the technology values in the fields of biotechnology, pharmaceuticals and medicine, we have needed more to estimate those values in consideration of the period and cost for the commercialization to be put into in future. The existing discounted cash flow (DCF) method has limitations in that it can not consider consecutive investment or does not reflect the probabilistic property of commercialized input cost of technology-applied products. However, since the value of technology and investment should be considered as opportunity value and the information of decision-making for resource allocation should be taken into account, it is regarded desirable to apply the concept of real options, and in order to reflect the characteristics of business model for the target technology into the concept of volatility in terms of stock price which we usually apply to in evaluation of a firm's value, we need to consider 'the continuity of stock price (relatively minor change)' and 'positive condition'. Thus, as discussed in a lot of literature, it is necessary to investigate the relationship among volatility, underlying asset values, and cost of commercialization in the Black-Scholes model for estimating the technology value based on real options. This study is expected to provide more elaborated real options model, by mathematically deriving whether the ratio of the present value of the underlying asset to the present value of the commercialization cost, which reflects the uncertainty in the option pricing model (OPM), is divided into the "no action taken" (NAT) area under certain threshold conditions or not, and also presenting the estimation logic for option values according to the observation variables (or input values).

• Journal of Korea Technology Innovation Society
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• v.10 no.3
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• pp.383-405
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• 2007

In this paper we estimate knowledge production function for 15 South Korean industry sectors using panel data. To accommodate the influence of inter-sectoral interactions on the creation of knowledge, we estimate parameters for related knowledge production functions using the Dynamic Seemingly Unrelated Regression(DSUR) model proposed by Mark et al. (2005). We find the elasticity of knowledge production with respect to the size of research staff to be 0.25 and that with respect to the existing stock of knowledge to be 0.35. The fact that the elasticity of new knowledge creation with regard to the existing knowledge stock is below 1 in South Korea corroborates the view that the rate of long-term growth of her economy is chiefly determined by the elasticity related to production functions of goods and services and the rate of population growth, and that her government policy, to ensure a continued growth for the Korean economy, must shift the focus of R&D policies from the current direct intervention-centered model to one consisting of indirect measures, namely supporting knowledge management and diffusion and the creation of a knowledge sharing system. In terms of R&D policy implications it could be consider that the national knowledge production system should strengthen the cumulative process of knowledge accumulation and population for research and development. Our country R&D policy, also, need to adopt a global approach to increase knowledge stock at the highest levels of a country.