• Journal of Navigation and Port Research
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• v.45 no.6
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• pp.276-283
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• 2021

The capital structure of the shipping business, which is characterized by its capital intensity and extreme market volatility, is closely related to long-term stability. Research in this area has been conducted mostly in the form of deriving the determinants of capital structure from company-wise financial ratios. This research, on the other hand, has a different approach to the topic. It identifies the relationship between actual cash profit and loss and other variables - i.e. actual vessel prices, interest rates and leverage ratio - by employing historical simulation. The result demonstrates that the P anamax cash profit shows 0 (break-even point) when the debt weight reaches 64.38% (debt ratio 180.74%) and the Cape, 73.04% (debt ratio 270.92%). Additionally, the ships of different types show a divided pattern for the pre- and post-'Super Boom'. It indicates that the business area and the market cycle should be considered when a leverage strategy is established. This research benefits shipping companies set a rational leverage strategy as well as delivers a reasonable guideline to government authorities for the development of a sound policy on shipping finance.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.13 no.6
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• pp.27-38
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• 2018

The purpose of this study is to find out common investment decision factors for CVC's invested technology-based startups and analyze them. We examined 17 CVCs that invested in technology startups for three years and six months from 2015 to June 2018. As a result, the final 9 CVCs that can be used in this study were confirmed and 188 companies were analyzed. This study was conducted as a case study to propose and demonstrate CVC investment objectives and investment decision factors analysis model. The results of this study are as follows. First, CVC focused on strengthening investment. Second, In 2015, Invested in an average of 19 months of technology-based startups. In recent years, we invested in 36 months of proven technology-based startups. Thirdly, ICT service was the main business type of the invested startups. Fourth, the investors were concentrated on the stage of Series A~B. It is observed that CVC investment determinants have a significant impact on product or service and parent company relations. In addition, it was found that factors such as innovation, business planning competency, enterprising, strategic competency, leadership, and opportunity recognition competency were influential factors for the startups of invested companies and it was found that these factors are important for CVC investment decision. Understanding of CVC investment determinants presented in this study is based on the establishment of the investment process of the investee, entrepreneurship and management education program. The results of this study can be applied to the selection of excellent startups, entrepreneurship education programs, mentoring, development of coaching guidelines, and establishment of investment process of other investment institutions when investing in CVC.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.14 no.4
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• pp.75-89
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• 2019

In the case of SMEs, entrepreneurship that organizes only core functions with the minimum number of people is increasing, and a responsibility management system focusing on core functions is emphasized, so that the interest in innovation behavior and survival strategy of enterprises is getting bigger. However, in the case of SMEs, it is not easy to pursue continuous innovation due to lack of capital and lack of professional manpower. The purpose of this study is to investigate the effect of SME on innovation behavior by selecting exploratory study and literature study for SMEs. The data for this study were 545 out of the total 600 copies distributed to employees in SMEs. The data were analyzed using SPSS 21.0 and amos18.0. First, product diversification, strategy formulation, and R & D have a significant effect on innovation behavior, and market diversification has no effect on innovation behavior. Second, working variables such as product diversification, market diversification, strategy formulation, and R & D do not control the influence of innovative behavior on innovation behavior. Third, the rank variable, which is the controlling variable, controls the magnitude of the effect of product diversification, market diversification, strategy formulation, and R & D on innovation behavior. As a result, corporate managers should lead the organization in order to promote product diversification, market diversification strategy, R & D and innovation activities. After discussing the conclusions and implications of this study, this study presented the direction of the research for the follow-up study.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.14 no.4
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• pp.179-190
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• 2019

To alleviate financing difficulties of small and medium sized enterprises (SMEs), the government and municipal governments are providing a variety of SME policy funding programs. This study introduced the policy funding program of Gangwon-do and quantitatively analyzed the financial performance of companies supported by the Gangwon-do SME policy fund in the year 2014. Specifically, we compared the financial ratios for three years, from 2013 to 2015, between funded firms and non-funded firms. In addition, we applied a regression analysis to see if the policy funding program contributed to profitability (the operating profit growth and return on equity), stability (the interest coverage ratio and debt-to-equity ratio), and growth (the asset growth and sales growth) of the funded firms. The empirical results show that the firms that received the policy funds did not show any improvement compared to non-funded firms in terms of profitability, stability, and growth. This suggests that Gangwon-do should improve the policy funding program, that currently provides only an interest amount of 2-4% of the corporate loan principal, without any strategic selection criteria for the target funded firms, and without any follow-up management system, after support.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.20 no.4
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• pp.50-55
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• 2019

Recently Ransomware attacks are continuously increasing, and new Ransomware, which is difficult to detect just with a basic vaccine, continuously has its upward trend. Various solutions for Ransomware have been developed and applied. However, due to the disadvantages and limitations of existing solutions, damage caused by Ransomware has not been reduced. Ransomware is attacking various platforms no matter what platform it is, such as Windows, Linux, servers, IoT devices, and block chains. However, most existing solutions for Ransomware are difficult to apply to various platforms, and there is a limit that they are dependent on only some specific platforms while operating. This study analyzes the problems of existing Ransomware detection solutions and proposes the onboard module based Ransomware detection system; after the system defines the function of necessary elements through analyzing requirements that can actually reduce the damage caused by the Ransomware from the viewpoint of users, it supports various OS without pre-installation and is able to restore data even after being infected. We checked the feasibility of each function of the proposed system through the analysis of the existing technology and verified the suitability of the proposed techniques to meet the user's requirements through the questionnaire survey of a total of 264 users of personal and corporate PC users. As a result of statistical analysis of the questionnaire results, it was found that the score of intent to introduce the system was at 6.3 or more which appeared to be good, and the score of intent to change from existing solution to the proposed system was at 6.0 which appeared to be very high.

• Journal of Climate Change Research
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• v.4 no.2
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• pp.105-114
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• 2013

Recently, foreign direct investment of Korea has increased significantly. Foreign direct investment is motivated by various reasons and renewable energy investments in foreign countries can be performed by many causes. Korean companies can enjoy the export of products, related EPC contracts, acquisition of the knowledge of the project management technique, pre-occupying effect of the market and profit itself. Wind power projects have biggest share in the investment amounts among the renewable energy business. So, in this study, one wind farm project was selected and supposed to be invested in China, USA, Germany and UK at the same time and the effect of electricity price, corporate income tax, inflation rate and interest rate of debt were analyzed. The result showed that investing in Germany is most profitable because of the highest electricity price and electricity price and debt interest rate are the most sensitive factors for IRR. This approach would be helpful to make decisions in investing foreign wind power projects.

• Industry Promotion Research
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• v.4 no.2
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• pp.9-18
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• 2019

This study investigated the relationship between ICT environment and business performance. In the case of Korea's major industries, large corporations have already established and operate a considerable level of smart factories, leading the global market. However, SMEs, which account for 95% of the total companies, are not able to build smart factories themselves. Smart factory construction The total number of government-supported enterprises is 4.891 companies (3,984 companies, 907 companies in construction) 2.9% of factories and 97.1% (166,344 companies) There is a big problem to be improved. The result of this study is that the first research objective of this study, which suggests the theoretical system that the will of the manager is most important for the successful establishment of the smart factory, which is part of the corporate innovation to meet the rapidly changing environment. Second, it can be seen that financing for building a smart factory is a key factor in building a smart factory, as well as funding itself. Third, it was found that besides its own technology, technology support for government and external technology consulting support are very important for smart construction. Fourth, organizational participation of internal organizers showed that cooperative and positive positive participation is also a factor of success. As a follow-up study, we analyzed the cause of the company's operation, analyzed the cause of the problem with the 4M1E technique, developed the countermeasures, and compared it before and after the improvement, standardized the improvement and needed further study. It is meaningful that the study provided basic data for building a smart factory through the analysis of the relationship between the ICT environment and business performance of the company.

• The Journal of the Korea Contents Association
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• v.21 no.10
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• pp.356-367
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• 2021

This study is a study on how much organizational leadership influences customer orientation so that it can secure and maintain a continuous competitive advantage in the rapidly changing environment of corporate management and public organizations. it was approached through theoretical consideration of pygmalion leadership. The purpose of this study is as follows. First, a conceptual definition of the three research variables of pygmalion leadership and its constituent atmosphere, feedback, and output is given. Second, the casual relationship between the conceptually defined three research variables of pygmalion leadership and self-efficacy and organizational commitment was verified. Third, the casual relationship was verified on the extent to which pygmalion leadership influences customer orientation through self-efficacy and organizational commitment, which are parameters. Fourth, through the verification result of the casual relationship between the research variables constituting the research model of this study. It was intended to present an implication. In addition, the significance of direct causal relationships between the research variables of pygmalion leadership, mediating variables, and dependent variables, which constitute the verified research models was verified, and the results of hypothesis testing were presented, and the academic and practical implications of the results of this study were presented.

• Korean Journal of Labor Studies
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• v.19 no.1
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• pp.105-137
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• 2013

This paper proposes to examine the relationship between the two trade unions of Hyundai Motor Company (HMC) - those of the regular workers and of the in-house subcontract workers - around the issue of converting irregular workers to regular ones, which has been a social issue for a long time, and, furthermore, to find a desirable solution. The politics of the in-house subcontracting rotate around three axes: the conflictive collusion between the company and the regular workers'union regarding the internal labor market; the exclusion and resistance between the company and the subcontract workers'union; and the solidaristic conflict relationship between the two unions. After the final decree by the supreme court in 2012 the conflict and collusion/solidarity relationship of the three social actors have been amplified in scale - the continuous limping of the special bargaining between the company and the unions, the intensified conflict between the company and the subcontract workers'union, and the crisis of the collusion between the branches of the two unions are all evidence of this. A clue to the solution to the issues of in-house subcontracting in HMC can be found through reestablishment of the relationship among the three actors. In order to solve the in-house subcontracting issues in HMC, phased and lawful switching from irregular to regular positions, improvement of working conditions for the irregular workers, integration of the two unions (realization of 'one company one union'), and negotiated flexibility in the internal labor market will be required. Also to be considered are installation of a special committee for the issue, and utilization of external consultants. The result would be the possibility for the corporate labor market of HMC to be composed of regular workers, legal contract workers and directly-employed contract workers, which could be realized through bilateral relations of 'the labor and management conflict partnership'.

• The Journal of the Korea Contents Association
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• v.21 no.6
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• pp.94-103
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• 2021

The purpose of this study investigates how game users' evaluation on a game company's CSR activities, perceived quality of game programs, and its brand assets affect the intention to game use. Specifically, this study tries to find out the causal relations among variables as testing the hypotheses. Firstly, the effect of users' evaluation on a game company's CSR activities and its qualities of game programs on the brand assets. Secondly, the effect of users' evaluation on a game company's CSR activities and its qualities of game programs on the intention to game use. Thirdly, the effect of users' evaluation on a game company's CSR activities, the qualities of game programs, and the brand assets on the intention to game use. 367 college students were administrated to the survey. The results indicate that game users' evaluation on economic, ethical, and philanthropic responsibilities, except legal one have an effect on brand assets and intention to game use. Specially, on effects of the three independent variables(CSR activities, perceived quality, and brand assets) toward intention to game use, ethical responsibility and brand loyalty have statistically significant. This result confirms that game company's board of directors should consider ethical company management as well as CSR activities not as cost but as investment for increasing company's business profit.