• The Journal of the Korea Contents Association
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• v.16 no.3
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• pp.439-446
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• 2016

This research examines the effect of outside director system which has been legislated after financial crisis in Korea. Outside director system is based on agency theory which assumes that a manager is selfish and opportunistic in situation where ownership and management of a firm is separated. In this situation, outside director system has an important function to monitor and keep in check a manager. Thus, we examined that outside director system works as a monitoring mechanism in Korea. And we tested that above effect is weakened in family CEO firms where it is different from assumption of agency theory in Korea. According to empirical result with 282 sample firm, it is confirmed that outside director system reduces agency cost. In family CEO firms, however, this agency cost-reducing effect becomes weak. This result suggests that outside director system needs be cautiously managed without focusing on only monitoring function.

• The Journal of the Korea Contents Association
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• v.16 no.5
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• pp.229-241
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• 2016

This research has its purpose to seek, among the CEOs of social enterprises, the influence of job stress on business performance, social support inbetween them, and adjusting role of government-supported policies. CEO of social enterprise, which is established to realize its social purposes, receives the job stress due to business ethics, profitability, identity crisis, management challenges and etc. We would like to set the foundation for the enterprises to constantly conduct social purposes within the local society by raising the business performances of social enterprises through seeking the measures to resolve such job stresses of the CEOs by expressing them. This research applied the ISR Job Stress Model theroy as its main ground of theoretical background. We would like to analyze the inter-significance by setting the job stress causes and job stress influences as independent variables, business achievements as a dependent variable, and social support, government-supported policies as moderating variables. For the methods of the research, we collected, using structuralized questionnaire, from 223 social enterprise CEOs located within Korea. Data analysis used IBM SPSS Statristics 20.0 programme, and through general characteristic of sample, confidence testing, factorial analysis, correlation analysis and research hypothesis testing, drew the following results. First, job stress factor and influence were analyzed to have negative impacts on business performance. Second, social support was found to lower job stress factor and influence, and raise business performance. Third, government-supported policy was analyzed to lower job stress factor and influence, and raise business performance.

• Asia Marketing Journal
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• v.16 no.1
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• pp.229-241
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• 2014

In 1997 the Asian Foreign Currency Crisis hit Korean shores. In its wake, Korean consumers demanded cost-saving solutions which will increase both the use-life and the fuel efficiency their vehicles. Bullsoneshot's effects include increases in gas mileage as well as cleaner cylinders, intakes and exhaust valves, the product was welcomed by an explosive demand from people driving older cars in an adverse economy. The history of Bullsone can be categorized as two major stages. The First stage is lunching era of "Bullone Shot" following competitor brand. The second stage is extension stage of brand and line based on Bullsone's positive brand equity. Mr. Hyun Woo Shin, formal CEO of OXY inc. and also formal vice president of OCI (Oriental Chemical Industries) take charge of New CEO of Bullsone. He energetically push the Bullsone's family brands and got a desirable results. He also setup ambitious goal : reach 100bn KRW in gross sales within 3 years. "Ripping itself free from 30~40 bn KRW sales range in which the company has stagnated in the last 10 years, Bullsone intends to be aggressive enough in marketing to reach 150 bn KRW in sales in 2013, and reach 700 bn KRW by 2018." This is the goal iterated by Bullsone's top executive team.

• Korea Trade Review
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• v.46 no.3
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• pp.65-79
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• 2021

This paper investigates how corporate governance characteristics are related to long-term corporate survival in an emerging economy. We used the data of 311 companies listed on the Korean Stock Exchange (KSE) in 1979 and examined the survival chances of those companies through the IMF crisis in 1998, upon governance characteristics that are expected to increase long-term strategic orientations. We utilized Cox regression model for the analysis. The results indicate that firms with particular governance characteristics that may be tied to CEO's long-term orientations show higher long-term survivability. Specifically, the probability of a firm's long-term survival is increased when founding family ownership is sustained, the company ownership is concentrated, and the CEO is the largest shareholder. This study has significance in that it is one of initial tries to examine the impact of corporate governance on long-term corporate survival with large scale statistical analysis. Also, the study findings provide some clues as to why the portion of family firms in emerging economies is continuously increased, thus providing meaningful insights to corporate governance literature.

• 한국벤처창업학회:학술대회논문집
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• 2018.11a
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• pp.165-175
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• 2018

Since the 1997 financial crisis, large scale unemployment and poverty have become serious, and public and social job creation projects have been carried out. However, with the limitations of low-wage and short-term jobs, the need for long-term and high quality jobs gradually began to attract attention. In recent years, social enterprises have grown both quantitatively and qualitatively and interest in social enterprises has increased. And also it is interested in the determinants of success and failure of social enterprises in the academic field. In this study, we examined the effects of social enterprise characteristics on financial and social performance, and we analyzed empirically by using social enterprises registered in the Korea Social Enterprise Agency. The financial performance of the social enterprise is measured by the net income ratio, operating income ratio, and the return on asset. The social performance of the social enterprise is measured by total number of workers and the employment rate of the vulnerable social groups. The characteristics of the social enterprise include the CEO characteristics (gender, age, experience in operating the social enterprise), the firm size, and the elapsed time of the authentication. The results of the empirical analysis are as follows. First, as a result of analysis for the effect on financial performance, we found that the financial performance have a statistically significant positive relationship with firm size, organizational form, government subsidies and capital adequacy ratio. And it is found that the social performance have a statistically significant negative relationship with CEO age, credit debt dependence. Second, as a result of analysis for the effect on social performance, we foumd that total number of workers have a significant positive relationships with CEO gender, CEO age, and firm size, government subsidies, while total number of workers have a significant negative relationship with certification type and industry dummy. On the other hand, the employment rate of the vulnerable social groups have a siginificant positive relationship with CEO gender and certification type and It have not statistically significant relationship with the government subsidies and the firm size.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.14 no.2
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• pp.61-72
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• 2019

Since the financial crisis in 1997, large scale unemployment and poverty have become serious, but there has been a surge in public and social job creation projects. However, with the limitations of low-wage and short-term jobs, the need for long-term, high quality jobs gradually began to garner attention. In recent years, social enterprises have grown both quantitatively and qualitatively and interest in social enterprises has increased; more specifically, scholars are interested in the determinants of success and failure of social enterprises in the academic field. In this study, we examined the effects of social enterprise characteristics on financial and social performance. In particular, we empirically analyzed social enterprises registered in the Korea Social Enterprise Agency. The financial performance of the social enterprise was measured using the net income ratio, operating income ratio, and the return on asset. The social performance of the social enterprise was measured by the total number of workers and the employment rate of vulnerable social groups. The characteristics of the social enterprise included CEO characteristics (gender, age, experience in operating the social enterprise), firm size, and the elapsed time of authentication. The results of the empirical analysis are as follows. First, as a result of analysis for the effect on financial performance, we found that the financial performance has a statistically significant, positive relationship with firm size, organizational form, government subsidies, and capital adequacy ratio. And we found that the social performance has a statistically significant, negative relationship with CEO age and credit debt dependence. Second, as a result of analysis for the effect on social performance, we found that the total number of workers had a significant, positive relationship with CEO gender and CEO age, as well as firm size, government subsidies; whereas the total number of workers had a significant, negative relationship with certification type and industry dummy. Comparatively, the employment rate of the vulnerable social groups had a significant, positive relationship with CEO gender and certification type, but there was no statistically significant relationship with the government subsidies or firm size.

• Korean Management Science Review
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• v.27 no.1
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• pp.107-116
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• 2010

There are several stage in corporate's life cycle such as foundation, growth, maturity or bankruptcy. A bankruptcy is very important for corporate in the life cycle. Especially, venture business' life cycle is short compare to other type of corporate. A lot of venture businesses have emerged and bankrupted soon in the market. Venture businesses' survival or bankruptcy have been influenced by not only external environment like the rate of exchange, oil price, and foreign exchange crisis but also internal environment such as efficiency, process, human resources, finance and CEO. In this paper, we attempt to examine financial factors and efficiency that influence on the venture businesses' survival and bankruptcy. The more venture businesses have high efficiency score, the more they have high probability of survival.

• Korean Institute of Interior Design Journal
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• no.29
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• pp.242-248
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• 2001

Even though the Korean intoner architecture market has constantly developed in the past on the basis of the economic and social growth, it has had a tough time for varied reasons since 1998. Restructuring in the construction industry is required due largely to both the lack of market demand which resulted from the foreign exchange crisis and managerial trouble which is getting worse as time goes by. In actual, as the social necessity for remodeling in skyrocketing, the remodeling is getting more acclaim. That is because old architecture generates a great amount of architectural trash, and it is necessary to look for ways to saute the energy. In the wake of these situations, the remodeling industry is drawing attention as an alternative to the marketable limitations of the existing construction industry. However, it is true that the remodeling market has yet to be activated decisively. Accordingly, the purpose of this paper is to provide a basis for entering into and activating the remodeling market of the interior architecture industry by analyzing the scale and recent conditions of the remodeling sector.

• Information Systems Review
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• v.11 no.2
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• pp.147-167
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• 2009

As global climate changes, the interest in environmental crisis is increasing and a number of international agreements and regulations against this crisis are being established. Global information technology(IT) corporations are building their own pro-environmental green IT strategies to cope with the regulatory measures. Green IT broadly refers to pro-environmental technologies designed to replace hazardous materials, maximize energy effectivity, and find alternative energies. In the current stage of the IT industry development, Green IT specifically refers to the technologies that deal with the server heat generation and the energy reduction in data center. This study defines the concept of Green IT and reviews its origin and necessity. Then, it examines the issues regarding Green IT industry in Korea as well as other countries and compares the Green IT strategies developed in each country. Reviewing the recent development of IT and data center market enables us to see that overall Green IT strategies focus on the establishment of Green Internet Data Centers. Therefore, this study analyzes the cases in which some domestic and foreign corporations introduced Green Data Centers in order to examine the protocol and legal requirements for building Green IT, the aspects of environmental evaluation and design, and specific strategies for launching Green IT strategies and its future assignments. The conclusions of this study are as follows. First, to introduce Green Data Center as a strategy to build Green IT, the government and corporations should cooperate with each other. Partial introduction at the initial stage is desirable because, through the process, mutual trust between the two parties can be built more smoothly. Second, CEO's determination to build Green IT and continue its operation is indispensable. CEO's are required to have clear understanding as to why Green IT needs to be built and how it should be constructed. Those who initiate the construction of Green Data Center for Green IT need to know the definition and necessity of Green IT while at the same time understanding the implicit meanings of Green IT. They also need to be aware of future-oriented values of Green Data Center and readjust their corporate business activities in the pro-environmental direction. Finally, not only the CEOs' pro-environmental activities but also the change of mind on the part of all corporate employees is required to realize Green IT. It should be remembered that pro-environmental Green IT starts with minor activities.

• Proceedings of the CALSEC Conference
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• 1998.10a
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• pp.27-43
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• 1998

Recently, most corporations in Korea need to construct new management system for overcoming economic crisis. Firstly, this paper suggests “Value Creation system”. Secondly, this paper suggests CALS as strategic substitute to achieve market efficiency, capital efficiency, personal efficiency, and operation efficiency, which are four critical factors of “Value Creation system”. Korean corporations should build new business model founded on cooperation by completing CALS system and reconstruct competitive management system by using knowledge and know-how accumulated in that process. Because most corporations keep exclusive corporate culture and little experience of cooperative relationship among businesses, strategic approaches are essential for construction of CALS. These are vertical integration, organization of CALS construction teams, concurrent development of product/process, CEO's iron will, Precise vision and strategies, and education/training of participant.