• Title/Summary/Keyword: D-R relationship

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An analysis of the relationship between technological import and indigenous R&D and their economic effects in the Korean industries (연구개발과 기술도입의 경제효과 및 상호관계 분석)

  • 장진규;홍순기
    • Journal of Technology Innovation
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    • v.2 no.1
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    • pp.242-255
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    • 1994
  • Indigenous technological development and import of foreign technologies are two major sources of industrial innovation in Korea. This paper mainly deals with the analysis of the relationship between the two sources, employing the Tobit method. The estimation of the effects of those two sources on the firms' sales growth is also performed, including other exogenous variables such as fixed capital formation and the amount of exports, etc. in the model. Technological import is shown to be complimentary rather than substitute for or competitive with R&D in the Korean industries during 1990. This is understandable because R&D may be conducted to absorb and adapt the advanced imported technologies as well as to further more innovative technological development. Fixed capital formation is positively correlated with technology import, but negatively correlated with R&D. Technology importation seems to have contributed much more than R&D to the sales increase in the Korean industries.

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Effects of Capital Structure and R&D Activities on Firm Performance : Evidence From the Entertainment Industry (자본구조와 R&D활동이 기업 성과에 미치는 영향 : 엔터테인먼트 산업을 중심으로)

  • Kim, Nam-Gon;Kim, Jee-Hyun
    • Journal of Korea Entertainment Industry Association
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    • v.15 no.2
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    • pp.21-34
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    • 2021
  • One of the important issues in finance literature is how the capital structure influences firm performance. This paper aims to investigate this relationship by focusing specifically on the entertainment industry. Taking into account the growing importance of research and development (R&D) activities in the industrial revolution 4.0 era, an additional goal of this paper is to examine how the R&D intensity moderates the relationship between the capital structure and firm performance, particularly in the entertainment industry. We find that the relationship between the capital structure measured by debt ratio and the firm performance in the entertainment industry shows distinctive features from those obtained from entire industries. While the negative influence of the increase of debt ratio is strong and consistent with various proxies when using a sample with entire industries, we cannot find this distinctive influence among entertainment enterprises. The moderating effect of R&D investments on the negative influence of debt ratio on the firm value, observed in the sample with entire industries, is not found in the sample composed of entertainment companies. These findings suggest that the influence of the debt level on firm performance and the role of R&D investments in this relationship in the entertainment industry are perceived and evaluated differently by financial market participants.

Effect of National Pension Service's Shareholding Ratio on Firm Value: Focusing on Stewardship Code Implementation and R&D Expenditure (국민연금의 소유지분비율이 기업가치에 미치는 영향 연구: 스튜어드십 코드 도입과 R&D 투자를 중심으로)

  • Daehyun Cho;YoungJun Kim
    • The Journal of the Convergence on Culture Technology
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    • v.9 no.3
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    • pp.779-787
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    • 2023
  • In the relationship between the shareholding ratio of National Pension Service (NPS) and the investee firm's value, this study examined the mediating effect of R&D expenditure which its increase can indirectly induce the increase of firm value, and examined the moderated mediation effect of the Stewardship Code implementation which pressures investee firms' to increase R&D expenditure and firm value. Using the Korean listed companies' data from 2016 to 2021, the analysis showed that the R&D expenditure had a partial mediation effect on the relationship between NPS's shareholding ratio and firm value. Also, the analysis showed that the NPS's Stewardship Code implementation had positive moderating effects on following relationships, one between NPS's shareholding ratio and R&D expenditure, and the other between NPS's shareholding ratio and firm value. In all, on the relationship between NPS's shareholding ratio and firm value, the R&D expenditure's mediation effect differs before and after the implementation of the stewardship code, which shows the moderated mediation effect.

Alternative Causal Relationship among Components of Intellectual Capital in Korean Public R&D Organizations (공공연구기관의 지적자본 측정 및 인과관계 연구)

  • Kang, Dae Seok;Jeon, Byoung Hoon;Kim, Nung Jin
    • Knowledge Management Research
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    • v.13 no.4
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    • pp.55-69
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    • 2012
  • This paper developed measurement indices for intellectual capital of public R&D organizations and investigated causal relationships among the components. We developed 10 measurement factors and 37 indicators and confirmed the reliability of these measurements. We offered an alternative to the existing model for searching causal relationships. From our survey research, using the structural equation model, we found a new relationship. In contrast to the existing model, we found a cycling relationship among three variables: human capital causes structural capital, structural capital causes relational capital, and relational capital causes human capital.

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Complementarity Between the Technology Acquisition and In-house R&D Evidence from the Korean Manufacturing Sectors (준구조적 계량 모형을 이용한 기술 획득과 연구 개발의 관계에 관한 실증연구: 한국의 제조업을 중심으로)

  • Yoon Ji-Woong
    • Journal of Korea Technology Innovation Society
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    • v.9 no.2
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    • pp.236-259
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    • 2006
  • This paper empirically examines the relationship between a firm's external technology acquisition and in-house R&D in Korean manufacturing sectors. Using the technology innovation survey conducted by the Korean government in 2002, and developing a semi-structural empirical model, we find that the firm's in-house R&D and technology acquisition have a complementary relationship: A firm's technology acquisition increases in its in-house R&D. Moreover, government R&D funding and tax incentives have positive effects on the in-house R&D, while the existence of the failed projects encourage a firm to acquire more external technologies.

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Isoflavone Content and its Relationship with Other Seed Quality Traits of Soybean Cultivars Collected in South Korea

  • Kim, Sun-Lim;Chi, Hee-Youn;Kim, Jung-Tae;Lee, Yeong-Ho;Park, Nam-Kyu;Son, Jong-Rok;Kim, Si-Ju
    • KOREAN JOURNAL OF CROP SCIENCE
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    • v.51 no.1
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    • pp.81-88
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    • 2006
  • The 117 soybean cultivars were collected from nine provinces in Korea, and various seed quality traits along with isoflavone contents were evaluated to elucidate their relationship. The 100-seed weight of the black soybean (31.2 g) was significantly higher (p<0.05) than yellow soybeans (28.6 g). The composition of genistein, daidzein, and glycitein accounted for 75.8, 22.8, and 1.4 % of total isoflavone in yellow soybean cultivars, while their compositions in black soybeans were 58.5, 39.7, and 1.8%, respectively. The mean contents of total isoflavone in yellow and black soybean were $l,561.6{\mu}g\;g^{-1}\;and\;l,018.3{\mu}g\;g^{-1}$. The isofalvone content showed significant variation among cultivars when classified by the seed size. In the yellow soybeans, total isoflavone content was higher in small size soybean cultivars $(1,776.0{\mu}g\;g^{-1})$ and medium size soybean cultivars $(1,714.3{\mu}g\;g^{-1})$ compared to large size ones $(1,518.5{\mu}g\;g^{-1})$. Genistein content was proved as the major factor determining the relationship between isoflavone content and 100-seed weights (r =-0.206*). Daidzein and glycitein, however, showed no significant relationship with the 100-seed weights. Isoflavone content was not significantly correlated with color parameters L (lightness) and a (redness) values, but color parameter b (yellowness) was positively correlated with glycitein (r=0.264*) in the yellow soybeans, while its negative correlation between daidzein (r=-0.245*) and total isoflavone (r=-0.256*) were observed in black soybeans. However, these findings suggested that the seed color value may not serve as an effective parameter for estimating the isoflavone intensity of the soybeans. Variation of protein and lipid contents between yellow soybeans (n=58) and black soybeans (n=59) was relatively stable, however, protein and lipid contents have no significant relationship with isoflavone content.

An Exploratory Research on Moderate Effect of Customization and R&D Strategy to Relationship between Quality Management Practices and Performances (품질경영 실행방식과 성과에 대한 customization 및 R&D 전략의 조절 효과에 대한 탐색적 연구)

  • Park, Jeong Soo;Chang, Deok Shin;Kim, Youn Sung;Lee, Dongwon
    • Journal of Korean Society for Quality Management
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    • v.41 no.4
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    • pp.611-621
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    • 2013
  • Purpose: The purpose of this study was to investigate if companies' efforts of quality management practices have positive impacts on the companies' performance as the first stage. In the second stage of this study, we tried to confirm if the degree of companies' making efforts on customization strategy and R&D strategy function as moderate variable on relationship between quality management practices and companies' performance. Methods: The collected data through survey were analysed using multiple regression for the first stage of the study and moderate regression for the second one of it. Results: The results of this study are as follows; quality management practices have positive effect on performances. Moreover, much effort on customization strategy has significant moderate effect on relationship between quality management practices and corporate performance. On the other hand, much effort of companies on R&D strategy has significant moderate effect on the relationship between the two as well. Conclusion: Manufacturing and services companies in Korea need to make effort of quality management practices in order to improve corporate performance. Moreover, if that efforts are combined with customization strategy and R&D strategy, they will expect synergy effect on performance improvement.

A Relationship between the Second Largest Eigenvalue and Local Valency of an Edge-regular Graph

  • Park, Jongyook
    • Kyungpook Mathematical Journal
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    • v.61 no.3
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    • pp.671-677
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    • 2021
  • For a distance-regular graph with valency k, second largest eigenvalue r and diameter D, it is known that r ≥ $min\{\frac{{\lambda}+\sqrt{{\lambda}^2+4k}}{2},\;a_3\}$ if D = 3 and r ≥ $\frac{{\lambda}+\sqrt{{\lambda}^2+4k}}{2}$ if D ≥ 4, where λ = a1. This result can be generalized to the class of edge-regular graphs. For an edge-regular graph with parameters (v, k, λ) and diameter D ≥ 4, we compare $\frac{{\lambda}+\sqrt{{\lambda}^2+4k}}{2}$ with the local valency λ to find a relationship between the second largest eigenvalue and the local valency. For an edge-regular graph with diameter 3, we look at the number $\frac{{\lambda}-\bar{\mu}+\sqrt{({\lambda}-\bar{\mu})^2+4(k-\bar{\mu})}}{2}$, where $\bar{\mu}=\frac{k(k-1-{\lambda})}{v-k-1}$, and compare this number with the local valency λ to give a relationship between the second largest eigenvalue and the local valency. Also, we apply these relationships to distance-regular graphs.