• The Journal of Asian Finance, Economics and Business
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• v.7 no.7
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• pp.343-348
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• 2020

So far, research into multinational bank' overseas expansion has focused on foreign direct investment in the financial services industry. However, this study focused its existing theories on multinational banks on decision-making related to the type of overseas advancement of local financial institutions. For research, four environmental factors were considered: the scale of foreign direct investment, the scope of financial services that can be provided according to the rules of the host country, the corporate tax rate of the host country, and the level of development of the host country's banking industry. Through Kotra, data on the total amount of claims from 2010 to 2014 and the regulatory status for the country's financial industries were obtained. Hypothesis are built around theories and survey factors and has been demonstrated through regression analysis. Results show that Korean financial institutions tend to expand as legally independent subsidiaries where the corporate tax rate of the host country is relatively low. Contrary to the previous studies based on the U.S. banking corporates, results show that Korean banks tend to expand in forms of branches to the host countries with high level of banking system development.

• Korean small business review
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• v.43 no.1
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• pp.85-105
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• 2021

This study verified how R&D investment affects the management performance of SMEs, whether technology innovation mediates this relationship, and whether marketing competency moderates the relationship between technology innovation and management performance. A longitudinal analysis was conducted using data from the corporate panel survey performed by Daegu Technopark every year since 2013. Data from 349 companies in the Daegu-Gyeongbuk region were mainly used, and the size of 30 to 50 employees in the manufacturing industry was a major analysis target company. The results are as below. First, The results showed that R&D investment had a positive effect on management as well as technology innovation, but technology innovation did not affect management performance. Also, technological innovation did not mediate the relationship between R&D investment and management performance. This shows that in the case of small SMEs, even if technological innovation occurs through R&D investment, the technological innovation does not lead to management performance. Also, the relationship between technological innovation and management performance was not changed by marketing capabilities. This shows that technological innovation in small SMEs is not easy to lead to business performance.

• Proceedings of the Korean Society for Quality Management Conference
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• 2004.04a
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• pp.313-318
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• 2004

No matter what Corporate Social Responsibility has been discussed, that has been indifferent. But, new concept of Corporate Social Responsibility, Socially Responsible Investment is attracted recently and these come to the front with management strategy or policy in 2004. Corporate Social Responsibility is progressing toward direction of standardization over dimension of simple discussion. Continuance possibility Management is gathering strength by supplement method that limitation of Environment Management and Ethics Management are emphasized. How does corporation cope with change of business environment?

• Asia pacific journal of information systems
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• v.8 no.3
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• pp.75-100
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• 1998

The paper empirically examines relationships among information infrastructure, competitive advantage of information technology, and corporate performance of small and medium manufacturing firms. Effects of competitive advantage of information technology on the linkage between information infrastructure and corporate performance are investigated. The fact that SME's (Small and Mediem-sized Enterprises) are having difficulties in building their own information infrastructure due to the limitation of capital investment, technology, and manpower is the main motive for the study. Research results confirm that information technology provides several traits of strategic advantages such as efficiency, threat, functionality, preemptiveness, and synergy and significantly contributes to corporate performance. But linkage between information infrastructure and competitive advantage of information technology is proved to be weak and this result suggests that systematic and effective information strategy or planning is required to deliver expected advantages of information technology from information infrastructure investments. Also control effect of competitive advantage of information technology on information infrastructure-corporate performance linkage is not strongly recognized.

• KDI Journal of Economic Policy
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• v.38 no.2
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• pp.21-44
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• 2016

There has been a surge of interest in private equity as an alternative corporate restructuring scheme to complement the current institutional forms such as workouts and court receivership. By empirically examining whether private equity in Korea can improve investee companies, we find that while private equity in Korea did not sacrifice the long-term growth potential of investee firms, it did not improve their profitability (e.g. ROA, ROE, and ROS) or growth (e.g. sales growth) either. Both the negative correlation between business performance and firm age and our empirical results showing that young firms were favored by private equity for investment imply that Korean private equity may perform as growth capital, similar to venture capital rather than as buyouts for corporate restructuring.

• The Journal of Bigdata
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• v.6 no.1
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• pp.13-22
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• 2021

The purpose of this study is to develop and demonstrate a framework for evaluating the maturity of big data for effective data strategy establishment and efficient investment of companies. By supplementing the shortcomings of the evaluation developed so far, a framework was developed to evaluate the maturity of a company's big data in an integrated process. As a result, four evaluation areas of 'Vision and Strategy', 'Management', 'Analysis' and 'Utilization', assessment items for each area, detailed content, and criteria for each stage were derived. This was verified through a survey of entrepreneurs, and the maturity level of big data of domestic companies was confirmed. As a future research direction, it is proposed to develop detailed assessment factors according to the characteristics of each industry, to develop a data utilization framework according to the assessment results, and to improve validity and reliability through adjustment of verification targets.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.3
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• pp.11-21
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• 2021

In the last few years, there is growing interest in the field of simultaneous equation estimation in finance due to the endogeneity problem caused by measurement errors, simultaneity, or omitted variables. This study aims to discuss the endogeneity problem in corporate financing decisions and investigate the interrelationship of financial decision-making such as investment decision, dividend decision, and external financing decision in Pakistan Stock Exchange (PSX) using two-stage least squares (2SLS) and generalized method of moment (GMM) estimation. The Bruech-Pagan test shows that the data has no heteroskedasticity issue and 2SLS is a better approach in the context of this study as compared to the GMM approach, and internal instruments are also sufficiently strong and valid. The three financial decision-making attributes are not jointly determined, and the dividend is influenced by one-sided investment. In the emerging stock market context, external financing and investment are not inter-related and did not affect each other. The question of whether the simultaneous equation estimation can be useful in the context of the emerging stock markets and newly-growing firms remains unanswered. The inclusive evidence shows that the theoretical link in the emerging stock market is difficult to prove like in developed stock markets.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.1
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• pp.1-15
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• 2020

This study analyzes the innovation performance of venture firms according to existence of venture capital investment, and according to type and ownership of venture capital. Venture firms are IPO firms that are registered on KOSDAQ between the year 2000 and 2016. They are categorized as corporate venture capital-backed firms (CVC) and independent venture capital-backed firms (IVC). Using patent data from KIPO (Korean Intellectual Property Office), we employ the number of patents and the citations per patent as the measurement of the innovation output. We find the positive association between the venture capital-backed firms and the number of patents before going public. Corporate venture capital-backed firms are positively associated with the number of patents before and after IPO. However, we do not find strong evidence between the number of citations and the existence of venture capital investment or the type of venture capital. Lastly, we provide an inverse U-shaped relationship between the innovation performance and venture capital's ownership. In other words, the innovation output, both the number of patents and the number of citations, gradually increases as the venture capitalist's ownership increases, but also shows a decrease pattern, suggesting that the venture capitalist's ownership does not only spur the innovation but also gives a negative effect on venture firm's innovation output such as excessive intervention. Overall, we reveal that the most important factor for the innovation performance is not the existence of venture capital investment or the type of venture capital, but the ownership of the venture capitalist.

• Journal of the Economic Geographical Society of Korea
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• v.3 no.2
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• pp.43-61
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• 2000

This study investigate the spatial characteristics and corporate networks of foreign business service firms in Korea. Specifically intrafirm and extrafirm organization of foreign firms are addressed utilizing the corporate network perspective. For this purpose, this study conducted questionnaire and interview surveys for the foreign firms. Parent-subsidiary relationships are focused on the mechanisms by which Transnational Corporations (TNCs) headquarters control and coordinate their foreign affiliates and subsidiaries in order to achieve investment purpose in Korea (overseas market expansion). But extrafirm networks of foreign business services firms in Korea do not appear to play an important role in regional development to date. A low proportion of foreign firms is engaged in academics-industry linkages, and a low number o( foreign firms is formally linked with government organizations, research institutes, and trade associations. To conclude, Foreign direct investment firms in business services in Korea are characteristics by globalized intrafirm networks and localized interfirm and extrafirm networks. It is understood that regional development can be vitalized when Korean local firms have close relationships with technologically advanced foreign firms in tacit knowledge capacity. Foreign firms are able to play an important role in the development of business services in Korea. This study suggests that regional foreign direct investment policy should be targeted towards the corporate networking with foreign firms and domestic firms and incrementation of the potential of foreign firms as a knowledge-intensive industry.

• International conference on construction engineering and project management
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• 2011.02a
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• pp.413-419
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• 2011

Corporate governance is a system articulating the division of responsibilities among different company members, and defining the running rules and procedures for making decisions on corporate affairs. The separation of ownership and management in modern enterprises brings agency problems to the company shareholders, and it is wildly believed that good practice on corporate governance is essential to prevent managers from taking actions by which profiteering their own benefits but compromising the interests of shareholders. This research investigates the level of companies' compliance with the corporate governance codes to find whether significant differences in corporate governance practice exist between the listed construction companies and the national leading companies in Taiwan. Further exploration focuses on the correlation between the compliance level and the industrial features. The investigation finds that: (1)Construction companies display lower levels of corporate governance compliance; (2)Construction companies display lower levels of structural board independence and respect for stakeholders; (3)Compliance levels of construction companies are correlated with the number of employees and the ownership concentration; (4)Compliance levels of the whole sample companies are correlated with the factors representing firm size, such as turnover, capital and number of employees, but are independent of profitability as well as stock price volatility. The above empirical evidence characterizes the features of corporate governance in Taiwan listed construction companies, including: (1)Large companies lurking high risk of agency problems have more willingness to conduct corporate governance and meanwhile can afford higher costs for the conduction, so that their compliance level would be higher than smaller companies; (2)Construction companies in Taiwan have higher ownership concentration, on account of the industrial tradition of family business, and therefore pay less attention to the compliance with structural board independence and respect for stakeholders. However, the conclusions indicate that further studies are essential to clarify whether the above disparities would lead to a negative cycle of corporate governance practice in construction industry. The benefits of corporate governance should unfold more evidently to convince construction companies for improving their investment environment and stimulating their healthy growth.