• Journal of the Korea Convergence Society
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• v.13 no.1
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• pp.297-312
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• 2022

Although education using teaching tools is important to both students and teachers, the quality problem of distributed teaching tools is constantly being raised. Therefore, the purpose of this study is to analyze the teaching tools by classifying them into three quality factors, and to confirm the satisfaction and repurchase intentions of elementary school teachers. This study was conducted by dividing the first CIT survey and the second survey targeting incumbent elementary school teachers, and the PLS statistical program was used as an analysis tool. Through empirical analysis, it was analyzed that product quality, educational quality, and service quality had a positive (+) effect on teacher satisfaction, and that teacher satisfaction had a positive (+) effect on repurchase intention. Through this, it gives teachers insight into what they should focus on when purchasing or evaluating teaching tools and how to use them usefully for education, and for researchers, it provides an important clue to research for product quality improvement, and for companies that produce and distribute teaching tools, it gives to effective guidelines for the development of new products and contents. In the future, in addition to the relationship between the teaching tools and teachers, additional research on the organic relationship between the teaching tools and various objects is needed, and this is suggested as a future study.

• Journal of Technology Innovation
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• v.30 no.1
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• pp.21-56
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• 2022

Since Michael Porter (1991) has proposed that environmental regulation can help a firm increase its competitiveness by encouraging it to engage in more innovative activities to meet the environmental regulation, a number of researchers have empirically investigated the "Porter Hypothesis." However, the empirical results still remain mixed. Combining the perspectives of the behavioral theory of the firm and firm heterogeneity, we argue that the levels of regulation stringency and time-pressure would differentially influence a firm's innovative behavior depending on the firm's aspiration level, performance feedback and technological capabilities. Using the U.S. Corporate Average Fuel Efficiency (CAFE) regulation context, we empirically demonstrate that lagging firms that do not meet the new regulation standard announced by the government tend to search for more distant knowledge and that the impact of the patents they file for decreases as the regulation becomes more stringent. In addition, we also find that as time-pressure increases, lagging firms stand to apply for more patents than do leading firms whereas the overall impact of the patents decreases. These results help us advance our understanding of the nuanced causal relationship between regulation and innovation and provide practical implications for policymakers.

• Korea Trade Review
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• v.42 no.4
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• pp.21-47
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• 2017

This study examines the effects of technological capability and domestic marketing capability of SMEs on the export market orientation, focusing on the moderating effect of market turbulence. This empirical analysis, based on surveys collected from 206 small and medium-sized firms located in Gwangju and Jeonnam provinces, yielded the following conclusions. First, technological capability of SMEs has a positive impact on export market orientation. This result not only is consistent with preceding studies but also suggests that when technological capability of SMEs is utilized as their own unique asset to reduce liability of smallness or liability of foreignness, the tendency to export might be increased. Second, domestic marketing capability of SMEs has a positive impact on export market orientation. This result suggests that as the domestic marketing capability of SMEs is used as prior knowledge reducing uncertainty to enter the overseas markets, the tendency to export might be increased. Third, as a result of examining moderating effect of market turbulence, it shows that market turbulence moderates the relationship between domestic marketing capability and export market orientation toward a negative(-) direction. That is, since market turbulence might weaken the relationship between domestic marketing capability and export market orientation, SMEs which belong to the industry considering marketing capability important need to develop strategy with consideration for market turbulence. This study provides theoretical and practical implications in that it reveals factors positively affecting export market orientation and market turbulence can be utilized as a moderator.

• Journal of Korea Trade
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• v.27 no.1
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• pp.139-158
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• 2023

Purpose - The study of co-movements between stock markets is a crucial area of finance and has recently received much interest in a variety of studies, especially in international finance. Stock market co-movements are a major phenomenon in financial markets, but they are not necessarily independent of the real market. Several studies support the idea that bilateral trade linkages significantly impact stock market correlations. Motivated by this perspective, this study investigates whether real market integration due to trade agreements brings about financial market integration in terms of stock market co-movement. Design/methodology - Over the 10 free trade agreements (FTAs) signed by the United States, using a dynamic conditional correlations (DCC) multivariate GARCH (MGRACH) model, we empirically measure the degree of integration by finding DCCs between the US market and the partner country's market. We then track how these correlations evolve over time and compare the results before and after trade agreements. Findings - According to the empirical results, there are positive return spillover effects from the US market to eight counterpart equity markets, except Jordan, Morocco, and Singapore. Especially Mexico, Canada, and Chile have large return spillover effects at the 1% significance level. All partner countries of FTAs generally have positive correlations with the US over the entire period, but the size and variance are somewhat different by country. Meanwhile, not all countries that signed trade agreements with the United States showed the same pattern of stock market co-movement after the agreement. Korea, Mexico, Chile, Colombia, Peru, and Singapore show increasing DCC patterns after trade agreements with the US. However, Canada, Australia, Bahrain, Jordan, and Morocco do not show different patterns before and after trade agreements in DCCs. These countries generally have the characteristic of relatively lower or higher co-movements in stock markets with the US before the signing of the FTAs. Originality/value - To our knowledge, few studies have directly examined the linkages between trade agreements and stock markets. Our approach is novel as it considers the problem of conditional heteroscedasticity and visualizes the change of correlations with time variations. Moreover, analyzing several trade agreements based on the United States enables the results of cross-country pairs to be compared. Hence, this study provides information on the degree of stock market integration with countries with which the United States has trade agreements, while simultaneously allowing us to track whether there have been changes in stock market integration patterns before and after trade agreements.

• Journal of Korea Entertainment Industry Association
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• v.13 no.8
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• pp.77-91
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• 2019

As of 2019, a report by the Ministry of Culture, Sports and Tourism showed that 884 diverse regional festivals are being held in the country. While there are successful festivals with large audience numbers and local economic effects, there are many festivals that only waste local budgets. Against this backdrop, the question of this study is "What are the key competences of a successful dance festival utilizing the VRIO model?" The development process and success factors of the success dance festival at home and abroad were analyzed in order to explore the key competences and specialization measures of the festival that our dance festival can take off as a successful dance festival. The purpose of the study is to examine what is the source of competitiveness of the regional festival through VRIO model, which can identify the key competencies of the festival to grow into a successful dance festival, and to derive the key competencies of the festival through the interview of the expert group(Focus Group Interview) to apply the development measures of our country's dance festival. According to the analysis, festival experts view the success factors of local festivals from various perspectives based on their empirical knowledge. The key competencies priority was 1. Theme, 2. the festival organization and professional personnel management, 3. The results came in the order of residents' participation. And the successful domestic and foreign dance festivals had their own core competencies. Growing up as a successful festival through festival management, which is worth no other festival, difficult to emulate, rare and difficult to replace, is seen as the biggest key to leading the regional festival to the world festival.

• Asia Marketing Journal
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• v.15 no.3
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• pp.53-77
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• 2013

As advertising and promotions are categorized as operating expenses, managers tend to reduce marketing budget to improve their short term profitability. Gauging the value and accountability of marketing spending is therefore considered as a major research priority in marketing. To respond this call, recent studies have documented that financial market reacts positively to a firm's marketing activity or marketing related outcomes such as brand equity and customer satisfaction. However, prior studies focus on the relation of marketing variable and financial market variables. This study suggests a channel about how marketing activity increases firm valuation. Specifically, we propose that a firm's marketing activity increases the level of the firm's product market information and thereby the dispersion in financial analysts' earnings forecasts decreases. With less uncertainty about the firm's future prospect, the firm's managers and shareholders have less information asymmetry, which reduces the firm's cost of capital and thereby increases the valuation of the firm. To our knowledge, this is the first paper to examine how informational benefits can mediate the effect of marketing activity on firm value. To test whether marketing activity contributes to increase in firm value by mitigating information asymmetry, this study employs a longitudinal data which contains 12,824 firm-year observations with 2,337 distinct firms from 1981 to 2006. Firm value is measured by Tobin's Q and one-year-ahead buy-and-hold abnormal return (BHAR). Following prior literature, dispersion in analysts' earnings forecasts is used as a proxy for the information gap between management and shareholders. For model specification, to identify mediating effect, the three-step regression approach is adopted. All models are estimated using Markov chain Monte Carlo (MCMC) methods to test the statistical significance of the mediating effect. The analysis shows that marketing intensity has a significant negative relationship with dispersion in analysts' earnings forecasts. After including the mediator variable about analyst dispersion, the effect of marketing intensity on firm value drops from 1.199 (p < .01) to 1.130 (p < .01) in Tobin's Q model and the same effect drops from .192 (p < .01) to .188 (p < .01) in BHAR model. The results suggest that analysts' forecast dispersion partially accounts for the positive effect of marketing on firm valuation. Additionally, the same analysis was conducted with an alternative dependent variable (forecast accuracy) and a marketing metric (advertising intensity). The analysis supports the robustness of the main results. In sum, the results provide empirical evidence that marketing activity can increase shareholder value by mitigating problem of information asymmetry in the capital market. The findings have important implications for managers. First, managers should be cognizant of the role of marketing activity in providing information to the financial market as well as to the consumer market. Thus, managers should take into account investors' reaction when they design marketing communication messages for reducing the cost of capital. Second, this study shows a channel on how marketing creates shareholder value and highlights the accountability of marketing. In addition to the direct impact of marketing on firm value, an indirect channel by reducing information asymmetry should be considered. Potentially, marketing managers can justify their spending from the perspective of increasing long-term shareholder value.

• Korean Journal of Culture and Social Issue
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• v.14 no.1_spc
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• pp.63-109
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• 2008

This article examines psychological factors that contribute to educational achievement of Korean adolescents. By reviewing empirical research, three core areas are outlined. First, positive and negative roles that Korean society play on academic achievement are analyzed. Compared to other countries, Korean society places a high premium, pressure an investment on educational achievement. This has contributed to the rapid economic growth and development, but at the same time it has created numerous social problems. Second, psychological and relational dynamics of investing in and achieving success in education are delineated. Through indigenous psychological analysis, the role parents play in motivating and regulating their children to succeed academically is reviewed. In addition, the role of teachers and friends and the coordinated efforts of Korean society are outlined. Third, future directions and transformations in education that are needed in Korean society are discussed. Although Korean adolescents are high achievers in high school, this is not the case at the university level. Since Korean students are interested in entering a prestigious university, they have developed skills in doing well in standardized tests. Educational reforms need to take into consideration individuals' personal interests, skills and creativity to ensure that the knowledge that they acquired can be used to further their career and improve their subjective well-being. Educational transformation does not imply simply adopting Western models, but developing indigenous models that can maximize human and cultural potential and stimulate curiosity, diversity and creativity that are necessary in the global era.

• Journal of Korean Elementary Science Education
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• v.42 no.4
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• pp.538-559
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• 2023

In this study, the interplay between models and theories was explored through a series of focus group discussions (FGDs) involving five experts in science education. The FGDs were held seven times, beginning with the question of what is modeling in relation to models, which is a current area of research in science education. Throughout the discussion, several key issues regarding models and modeling were addressed, with a particular emphasis on their relationship to theory. A notable finding from this study is that the participants' discussions did not converge into a single viewpoint regarding the relationship between theory and models; instead, multiple related issues emerged, leading to attempts to reframe existing concepts and seek new understanding. The study findings relate to three main areas of inquiry: What is the meaning of models or modeling? What is the nature of the relationship between models and theories?, and Is modeling possible without a foundation in theory? Particularly, the relationship between models and theories was discussed in reference to the following points: 1) Is a model to be understood as derived from theory, and is modeling the application of theory to phenomena? 2) Can a model be inferred from theory? 3) Does modeling originate from a specific, structured foundational theory (a framework of empirical knowledge), or is it to be understood through the integration of various resources without explicit reference to a foundational theory? Based on the study outcomes, implications are presented for philosophy of science and for researchers and educators working in the realm of science education.

• Information Systems Review
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• v.19 no.3
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• pp.127-154
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• 2017

This study aims to identify various service innovation patterns in the service industry and understand the main differences among them. We attempt to create a new typology of service innovation by analyzing its patterns based on the four major dimensions of service innovation (i.e., service concept, service delivery, customer interaction, and technology). We then investigate whether firms pursuing different service innovation patterns significantly differ from one another in terms of their performance (high and low performance). Based on empirical data collected from 198 Korean firms in the knowledge-intensive business service sector, four major clusters composed of different service innovation dimensions are identified. These four clusters can be interpreted as specific service innovation patterns, including "technology based high customer interaction," "high technology based high service delivery," "service delivery and high customer interaction-integrated," and "strongly balanced" innovators. High firm performance does not depend on the individual service innovation dimension but on the specific configurations of such service dimensions. Customer interaction also has an important role in achieving innovation success and improving firm performance, while technology has a key role in enhancing firm performance. This study sheds new light on service innovation research by developing a new typology of service innovation, identifying four major clusters as service innovation patterns, and exploring the relationship between service innovation patterns and firm performance.

• Analyses & Alternatives
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• v.8 no.2
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• pp.87-115
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• 2024

This study examines the effect of R&D investment on firm performance and value of Chinese private firms. Through R&D investment, firms aim to acquire knowledge and technological resources to create innovation and competitive advantage, which ultimately enhances firm performance and value. However, unlike other investments, R&D investments are characterized by high adjustment costs and risks, uncertainty and asymmetric information. In addition, the effect of R&D investment on firm performance and value has been shown to be mixed results due to various internal and external contextual factors. Therefore, this study intends to consider how the ESG activities of firms, which have recently attracted attention, act as a contextual factor in the results of R&D investment. This is because interaction with stakeholders through ESG activities is considered to be an important factor in securing competitive advantages and sustainable growth. In this context, this study measures the effect of a firm's R&D investment on its business performance by dividing it into financial performance and value, respectively, and examines the moderating effect of ESG score on the relationship. Based on empirical analysis of all Chinese private firms from 2010 to 2019, the results show that a firm's R&D investment has a negative impact on performance and a positive impact on value. Furthermore, a high ESG score of private firms positively moderates each relationship, emphasizing the importance of ESG activities.