• 한국병원경영학회지
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• 제10권4호
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• pp.51-74
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• 2005

This paper presents an analysis of the current status of domestic hospital industry which went trough the time of new hospitals operated by chaebols from 1994 to 2003 and the dramatic changes of medical service environment such as IMF relief loan in 1997 and the separation of prescription and dispensing (SPD) in 2000. For the sake of righteous policy-making in the future, this paper presents a productivity analysis of the management and administration of 38 tertiary hospitals nationwide in the past 10 years. The analysis is based on the Malmquist index approach using linear programming. d prepare a productivity index that measures not merely efficiency but the technological evolution and adjustment to changing environments.

• 한국경영과학회지
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• 제17권1호
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• pp.87-87
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• 1992

The Purpose of the current study is to understand population learning with coercive isomorphism in the Korean Business Groups. Can we observe isomorphic phenomena by coercive isomorphism? Why do these happen? What mechanisms are embedded in the coercive isomorphism. To answer these questions this study focused on the two Korea's largest Chaeblos the Samsung and Hyundai. An empirical study to compared daily routines used in these two Chaeboles and contents analysis on the founders' characteristics were performed. Three major mechanisms were suggested as main processes to impact the formation of the coercive isomorpism in the two Korean Chaebols. Research implications were discussed at the end of study.

• 기술혁신연구
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• 제6권2호
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• pp.1-31
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• 1998

This paper summarizes the research results on the structural characteristics of the Korean innovation system. The Korean NIS has functioned well in the foreign technology imitation stage. However, there are many drawbacks to advancing to the stage of technological innovation. Weak infrastructure and linkages among technological institutions are detrimental factors that affect technological innovation. The immobility of professional manpower is a serious bottleneck to knowledge diffusion. Especially, the inactivity of university research prevents universities from being able to play a relevant role in the national innovation system. The drawbacks of the Korean innovation system are mainly associated with the public sector and social culture. Weak linkages among organizations are due to the lack of trust among people and organizations, and absence of demand-oriented management in public institutes. Weaknesses in technological infrastructure, university research and the social and cultural environment are tile result of the lack of government will. However, the private sector was evaluated as being relatively active in innovation. Particularly, Chaebols deployed aggressive strategies to acquire their own technological capabilities. The findings of this study suggest that to strengthen the Korean innovation system, the government continues to be important, as in the past, in order to shape social institutions and a culture that is learning friendly, diffusion friendly and, consequently, innovation friendly.

• 아태비즈니스연구
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• 제12권3호
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• pp.37-50
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• 2021

Purpose - This study aimed to examine the behavior surrounding the Initial Public Offering (IPO) event of firms within the same conglomerate and the impact of under-pricing and Return on Equity(ROE) on a firm's abnormal stock returns. Design/methodology - This study collected data from 166 South Korean Chaebols, consisting of 355 firms distributed as 202 listed on Korea Composite Stock Price Index (KOSPI) and 153 firms listed on Korean Securities Dealers Automated Quotations (KOSDAQ) from 2000 to 2020. The Capital Asset Pricing Model (CAPM) and the multiple regression analysis were hired to analyze the data. Findings - First, we found an adverse price reaction of IPO listing in the same chaebol group, and firms with higher under-pricing affect other firms' stock prices more adversely within the conglomerate. Next, we explored a negatively significant relation between ROE and the chaebol firms' stock returns during IPO events. Research implications - The novelty of this study is there are not many empirical studies on the impact of IPO within a conglomerate. So, the findings of this study contribute to the literature for analyzing stock's abnormal returns within a conglomerate.

• The Journal of Asian Finance, Economics and Business
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• 제9권7호
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• pp.185-196
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• 2022

The purpose of this study is to examine the effects of split ratings on earnings management through cost adjustments based on asymmetric cost behaviors. Using a sample of 2,027 Korean firm-year observations over the 2002-2019 period, we analyze whether a firm deliberately reduces discretionary costs, such as selling, general, and administrative (SG&A) expenses, to improve profits when it receives multiple ratings from credit rating agencies (CRAs). While examining earnings management incentives in the presence of split ratings, we also investigate the moderating effects of Chaebols, Korea's unique corporate governance structure. We find that split-rating firms show less stickiness in SG&A costs compared to non-split-rating firms when sales decrease. This result implies the deliberate reduction of discretionary costs to improve earnings in the presence of split ratings, which are more likely to change in future credit assessments. We also find that the incentives for earnings management of split-rating firms are limited in Chaebol firms, which have high levels of socio-economic surveillance and support affiliated firms through the internal market of corporate groups. This study contributes to existing research by identifying new determinants of cost behavior by using the framework of asymmetric cost behavior in relation to earnings management incentives.

• 한류연구
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• 제2권2호
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• pp.19-26
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• 2023

This study analyzes the historical events that shaped South Korean Foreign Direct Investment (FDI) and its value to businesspeople. Chapter 2 reviews South Korean FDI literature, highlighting critical studies and a research gap. Chapter 3 strategically separates findings into four major historical events. Every event-from economic liberalization to technical advances-is studied. Chapter 5 offers valuable insights and guidance on how these events affect practitioners. The following chapters aim to promote FDI dynamics understanding and enable businesses and governments to make strategic decisions in South Korea's dynamic economy. Foreign Direct Investment (FDI) history in Korea is significant for practitioners. These events have impacted the nation's economy from the 1960s economic liberalization to modern technology advances. Practitioners must understand these events' far-reaching implications to make informed decisions. The opening up of the economy, chaebols' involvement, financial crises, and high-tech industry emphasis provide excellent lessons. This understanding helps practitioners navigate the global economy, adapt, and be resilient for sustainable economic growth in the Republic of Korea. Thus, practitioners should actively advocate for FDI and economic growth policies with government agencies. Collaboration ensures that the government's strategic vision matches industry practitioners' requirements and goals. By working together, practitioners help create policies that make Korea more appealing to international investors.

• 패션비즈니스
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• 제27권6호
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• pp.18-36
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• 2023

Although an extensive body of research exists on sports uniform colors in the West,there is a dearth of research on South Korean sports uniforms, especially in the domain of professional teams ports. This study aims to identify and analyze the colors of sports uniforms of 56 professional teams listed on the Korea Professional Sports Association (KPSA) for a range of team sports (e.g. football, baseball, basketball, volleyball, and golf). The number of colors of each team's uniform and the ordinal ranking of these colors were recorded and analyzed. Furthermore,the number of colors and parent company colors were grouped by gender and league. Overall, 80.4% of the teams preferred three to four colors with white, black, blue, and red being the most popular colors. Every team's primary, secondary, or graphic logo colors on their uniforms included white. The gender variable was partially significant, emphasizing culturally significant colors such as pink. The parent company's color showed a significant connection with the team's uniform colors. This result was related to the historical origins of South Korean professional team sports and their unique relationship with chaebols. Based on the findings, this study concludes that visibility and contrast factors, as well as historical aspects relating to the concept of glocalization play an important role in the color choices of South Korean team uniforms.

• 한국콘텐츠학회논문지
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• 제15권7호
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• pp.436-448
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• 2015

본 논문의 논제는 국내 기업들, 특히 재벌계열사들 중심의 최근의 재무적 현안이 되고 있는, 현금유동성 수준에 대한 재무적 결정요인들에 대한 분석이다. 연구의 특징은 재벌소속 계열사들의 동 유동성에 대한 재무적 결정요인들에 대한 기존 연구(김한준 (2015))에 관한 확장, 심층적 연구이며, 이를 통하여 기존의 검정된 결정요인들에 대한 다양한 계량 경제적 모형들을 활용한 강건성 확인이 연구목적이라고 할 수 있다. 다양한 연구방법들이 검정에 응용되었으며 (정적, 동적 패널자료모형, 변수선택법, 파마-맥베스 모형 등) 연구결과 관련, 유의성있는 재무적 결정요인들로서는 현금흐름, 시가대비 장부가, 대리인비용, 그리고 추가적 설비투자비용 등이 판명되었다. 이는 기존의 연구결과와도 일관성이 있는 것으로 판단된다. 본 연구를 위하여 추가 투입된 잠재변수들 중, 현금전환기간과 산업더비변수들 (음식료업, 화학업, 건설업 등)이 종속변수에 대한 영향력에서 통계적 유의성을 보였다. 본 연구결과가 해당기업들의 적정 현금유동성 수준의 정책적 결정에 실증적 기준을 제공하여, 국내 자본시장의 선진자본시장으로의 진입 가능성에도 일조할 수 있기를 기대한다.

• KDI Journal of Economic Policy
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• 제28권2호
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• pp.239-262
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• 2006

경제위기 이후 은행 등 금융기관의 기업 규모별 대출분포를 살펴보면 대규모 기업에서 중소규모 기업으로 그 비중이 이동하였음을 알 수 있다. 이러한 현상의 원인 중 하나로 경제위기 이후 진행된 금융구조 개혁으로 금융기관의 대출관행이 개선된 점을 들 수 있다. 경제위기 이후 회사채시장에서도 중요한 변화가 정착되고 있다. 경제위기 이전에는 기업 또는 그룹의 규모 자체가 회사채 조달에 있어 중요한 결정요인 중 하나였는데, 경제위기 이후 그러한 현상이 사라져가고 있는 것이다. 이는 경제위기 이전에는 소위 "대마불사"의 신화로 일반투자자들이 대규모 재벌의 회사채를 수익성과 관계없이 선호하였으나, 1999년 대우그룹 붕괴 및 2000~2001년 현대그룹 유동성 위기 등으로 그러한 불합리한 믿음이 깨지게 된 것과 밀접한 관련이 있다.

• 기술혁신연구
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• 제13권2호
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• pp.97-131
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• 2005

This paper has discussed several issues regarding the barriers and opportunities for technological catch-up by the late-comer countries and firms. As one of the barriers to technological catch-up, the paper emphasizes the uncertainty involved with the third stage of learning how to design. The barriers arise because as the forerunner firms refuse to sell or give license to successful catching-up firms who thus have to design the product by themselves. The paper discusses how to overcome this barrier. It also notes that if the crisis of design technology is a push factor for leapfrogging, arrival of new techno-economic paradigm can serve as a pull factor for leapfrogging, serving as a winder of opportunity. The, it emphasized the two risks with leapfrogging, namely the risk of choosing right technology or standards and the risk of creating initial markets, and how to overcome these risks. It discusses how to overcome these risks in leapfrogging, and differentiates diverse forms of knowledge accesses. Then, the paper takes up the issue of whether there can be a single common or several models for catch-up. A common element of catching-up is to enter new markets segments quickly, to manufacture with high levels of engineering excellence, and to be first-to-market by means of the best integrative designs. This observation is supported by the fact that Korea and Taiwan has achieved higher levels of technological capabilities in such sectors as featured by short cycle time of technology. The possibility of two alternative models for catch-up is also discussed in terms of the key difference between Korean and Taiwan, especially in the position toward the source of foreign knowledge and the paths taken toward the final goal of OBM. Taiwan followed the sequential steps of OEM, ODM and OBN, in collaboration or integration with the MNCs. Korean chaebols jumped from OEM directly to OBM even without consolidating design technology.