• 기술혁신학회지
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• 제8권1호
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• pp.116-134
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• 2005

This paper investigates the relationships between export and firm characteristics, focusing on technology factors. It is based on a longitudinal data covering listed firms in the Korean manufacturing industry. A regression model for the determinant of export/sales ratio including dynamic adjustment process is tested on a cross-section sample of the year 2001. Empirical findings suggest that there is no significant relationship between export/sales ratio and firm's technological level. The hypotheses concerning human capital intensity and physical capital intensity are also rejected. But we found a positive and inversely U-shaped relationship between firm size and export/sales for basic material and capital good industry. As a dynamic aspect, we found that the pattern of export/sales ratio changed unstably over the last decade. Finally, some policy implications are presented.

• 유통과학연구
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• 제14권2호
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• pp.135-144
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• 2016

Purpose - The purpose of this paper is to empirically investigate the moderating effects of social capital on antecedents factors path of export performance in the materials and components SMEs(Small and Medium-sized Enterprises) of Busan and Kyungnam region. In case of materials and components SMEs, they are always trying to achieve business performance including export sales and market share, but it is difficult for them to increase performance due to the limitation of inner & tangible resources. Therefore intangible asset such as technology capability and its antecedents factors which are technology innovation and learning orientation are getting more important to SMEs. In addition, it is supposed that social capital such as local network including distribution channel in overseas market plays an essential role to enhance export performance. Accordingly, the main goal of this study is to find out the relationship between export performance and antecedents factors and the validity of social capital as a moderating valuable. Research design, data, and methodology - Technology innovation, learning orientation and technology capability have been used as antecedents factors for export performance and social capital such as network diversity and intensity has been used for moderating effects analysis. In order to select these valuables mentioned above, this study examined the existing researches on a basis of Resources Based View, Organizational Learning Theory and Social Capital theory. To achieve the objective of this paper, 7 hypotheses including the moderating effects have been proposed with 6 potential variables measured by 24 questions. The survey was carried out from December 2014 to March 2015 and 137 samples out of total 175 were selected for the analysis. PLS(Partial Least Squares) has been used for the methodology of empirical analysis for both antecedents factors path and moderating effects. Results - Research findings are as follows. First, technology innovation has a significant impact on learning orientation, learning orientation has a positive effect on the technology capability and technology capability also has a significant impact on export performance. Therefore 3 valuables are proved as antecedents factors of export performance. Second, the social capital(both network diversity and intensity) plays a moderating role with learning orientation to technology capability. However, there is no moderating effects between both of social capital and technology capability regarding export performance. Conclusions - According to path analysis results, it is suggested that the materials and components SMEs should raise technology innovation and learning orientation in order to improve technology capability and export performance. Meantime, the moderating effect analysis shows that SMEs should consider local network diversity and intensity along with learning orientation to add up technology capability. But local network diversity and intensity does not work systematically with technology capability for export performance and it means that SMEs should find the appropriate local partners for the purpose of establishing concrete distribution channels based on marketing perspective, not for improving technology capability.

• Journal of Korea Trade
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• 제26권4호
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• pp.63-82
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• 2022

Purpose - Drawing on relational institutional theory, we explored how demographic similarity between board members of a firm and newly emerged political elites led to firms' increased financial resource acquisition such as leverage ratio and decreased export intensity amidst the Asian financial crisis. We also studied how a firm's leverage ratio and export intensity can further affect firm profitability and financial credit rating. Design/methodology - We revisited and explored a unique, unprecedented crisis that affected most Korean firms: the Asian financial crisis that coincided with a governmental shift from a conservative to a liberal party. We collected demographic information from 432 listed Korean firms' board members and 43 political elites of the Blue House from 1998-2000 to create a demographic similarity measurement. We collected firms' financial information, built panel data, and used ordinary least squares regression to test our theory. Findings - Our results showed that demographic similarity between a firm's directors and newly emerged politicians had a positive association with a firm's leverage ratio but a negative association with a firm's export intensity. A firm's leverage ratio had a negative relationship with firm performance measured by firm profitability and financial credit rating. A firm's export intensity showed a positive effect on firm performance. Originality/value - We highlighted that during an economic crisis that coincided with a governmental shift and change of leading political actors, firms exerted efforts to survey the environment and build new external stakeholder relationships to cope with the changing landscape. We proposed that in an emerging market like Korea where low levels of trust and favoritism are prevalent across society, one of the relational institutional strategies that firms can employ is the selection of directors with similar demographic characteristics to political elites based on factors including birthplace and school affiliations. We examined the efforts of firms to build political networks with newly empowered political elites during a financial crisis, and the consequences of establishing such networks. We highlighted that during a financial crisis, the demographic similarity between a firm's board members and newly emerged politicians can provide firms with access to financial resources but can also result in poor management and reduced effort to enhance its international competitiveness.

• Journal of Korea Trade
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• 제26권5호
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• pp.39-55
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• 2022

Purpose - This study empirically examines the effect of the Korean government export promotion program (EPP) on small and medium-sized enterprise (SMEs) export performance using firm-level data. Unlike most previous studies that investigated some specific samples of firms, this study analyzes a vast amount of SME data of the Korean Small and Medium Business Administration over the period 2005 to 2008. Design/methodology - An endogeneity problem arises when a firm's probability of being selected is correlated with the likelihood of successfully implementing EPPs. To control for the endogeneity of the EPPs in a relatively short-period sample, we employ 2-Stage Residual Inclusion (2SRI) RE-Tobit and bivariate Tobit procedure. Findings - Analyses show that Korean government EPPs have positive significant effects on SME exports. Empirical results also show that SME export activities are significantly encouraged by R&D investment and capital intensity, but not obviously by labor productivity. Originality/value - This study provides evidence that SME capital intensity, R&D investment, and the number of workers are significant determinants to SME exporting activities, whereas per worker labor cost and employee education are not. These results imply that even for SMEs, firm size is a major factor in promoting exporting activities.

• 통상정보연구
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• 제12권1호
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• pp.299-325
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• 2010

The purpose of this empirical study is an index to usage of export assistance programs for korean small-medium exporters. Build around the index make an analysis of SMEs internal or exterior factors have an effect on export at present or in future export performance and the relative importance. Based on 128 surveys form korean SMEs experienced export assistance programs, 8 hypotheses, which are set up each factor, were verified through the practical analysis. The main result of hypothesis drawn by empirical study are as follows : The more SMEs use the programs, the more high export performance at present and in future. Export competitive factor reject at present export performance, but it will affect future export performance. A size of the firm in the characteristics of SEMs will affect export performance. Export rate of own brand will not affect performance. Another factors show adoption partly concerned hypothesis. Classified exterior factors of SMEs, a intensity of market competition shows adoption partly concerned hypothesis. Market growth rate will affect export performance at present and future strongly. Finally the usage of assistance programs will affect between a consumption goods and an industrial goods differently. From this study we found if we want to develop the export assistance programs that can actually in phases help the SEMs.

• Journal of Korea Trade
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• 제24권8호
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• pp.1-18
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• 2020

Purpose - This paper examines how differently output and input tariffs affect domestic employment across industrial characteristics of comparative advantage such as labor quality and capital intensity. Design/methodology - The paper focuses on 453 Korean industries from 2007 to 2014 because Korea is a typical example of a natural resource-scarce open economy and experienced the transition of the export pattern from labor intensity to technology intensity during this period. Findings - The results show that input tariff reduction stimulated total employment, focusing on the early 2010s, while the effects of output tariff reduction were statistically insignificant in general. However, the stimulation effects of output tariff reduction on employment were found in comparative advantage industries with greater labor quality and capital intensity. As for input tariff reduction, its stimulation effects on employment were more prominent in comparative disadvantage industries with lower labor quality and capital intensity. Originality/value - These results provide significant implications for natural resource-scarce open economies which are experiencing the transition of the export pattern from labor intensity to technology intensity and the unequal distribution of income after trade liberalization: imported intermediate inputs has become increasing important, leading to trade effects on employment and alleviation of income inequality.

• 벤처혁신연구
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• 제6권3호
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• pp.131-148
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• 2023

본 연구는 온라인 수출마케팅을 활용한 중소기업의 마케팅능력이 시장성과에 미치는 영향을 분석하였다. 중소기업은 시장 확대를 위해 내수시장에서 해외시장으로 시장 확대와 매출증대를 위해 노력하고 있다. 이러한 경쟁이 치열한 해외시장에서 성과를 낼 수 있는 요인들을 연구하였다. 총 400개의 수출 중소기업 설문을 수령하였고, 온라인 수출마케팅에 직접 참여한 설문대상자 159개사를 최종 대상으로 선정하였다. 설문 조사는 SMART PLS 4.0과 SPSS 26.0 통계 프로그램을 사용하여 분석하고 연구가설을 검증하였다. 연구 결과는 다음과 같다. 첫째, 중소기업의 마케팅능력이 온라인 수출마케팅에 긍정적인 정(+)의 영향을 미치는 것으로 나타났다. 둘째, 온라인 수출마케팅의 매개역할을 통해 시장성과에 유의한 정(+)의 영향을 주는 것을 확인하였다. 또한, 수출시장에서의 경쟁강도는 온라인 수출마케팅에서 조절효과를 갖는 것으로 나타났다. 본 연구의 시사점은 다음과 같다. 수출 중소기업의 마케팅능력(제품개발능력, 유통능력, 가격책정능력, 홍보능력)이 온라인 수출마케팅을 매개로 하여 해외 시장성과에 긍정적인 영향을 미친다는 이론적 토대를 마련할 수 있었으며, 경쟁이 심한 해외시장에서 중소기업의 온라인 수출마케팅 활용은 해외 시장개척과 성과에 중요한 수단이 될 수 있다는 점에서 시사점을 제공해 줄 수 있다. 결과적으로, 중소기업 해외시장 진출과 성과를 위해 온라인 수출 마케팅의 적극적인 활용이 필요하다.

• Journal of Korea Trade
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• 제26권4호
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• pp.1-22
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• 2022

Purpose - This paper empirically investigates the effect of a rise in the global value chain (GVC) on the industry-level efficiency of resource allocation (based on plant-level inefficiency measures) in Korea, with a focus on various channels through which a rise in the GVC can increase competition among firms and thus induce resources to be allocated more efficiently across firms. Design/methodology - We empirically investigate the relationship between the industry-specific importance of GVC and the industry-level allocative inefficiency that is measured as the dispersion of the plant-level marginal revenue of capital (MRK) as in Hsieh and Klenow's (2009) influential model. We compute MRK dispersion for industries sorted by various characteristics that are closely related to firm/industry sensitivity to the GVC. In other words, we compute the average industry-level MRK dispersion for industries sorted by industry-specific importance of GVC and compute the difference between the two groups of industries (higher vs. lower than the median GVC); we also calculate the difference between industries sorted by industry-specific export (import) intensity. This is our difference-in-difference estimate of the MRK dispersion associated with the GVC for the export (import)-intensive industry versus the non-export (non-import)-intensive industry. This difference-in-difference estimate of the MRK dispersion conditional vs. unconditional on firm-level productivity is then calculated further (triple-difference estimate). Findings - A rise in GVC is associated with a decrease in the MRK dispersion in the export-intensive industry compared to the non-export-intensive industry. The same is true for industries that rely heavily on imports versus those that do not (i.e., import intensive vs. non-intensive). Furthermore, the reduction in the MRK dispersion in the export-intensive industry associated with an increase in the GVC is disproportionately greater for high-productivity firms. In contrast, the negative relationship between GVC and MRK dispersion in the import-intensive industry is disproportionately smaller for high-productivity firms. Originality/value - Existing studies focus on the relationship between GVC and aggregate output, exports, and imports at the country level. We investigate detailed firm/industry-level mechanisms that determine the relationship between GVC, trade, and productivity. Using the plant-level data in South Korea, we investigate how GVC is related to the cross-firm MRK dispersion, an important measure of allocative inefficiency, based on Hsieh and Klenow's (2009) influential economic theory. This is the first study to provide plant-level evidence of how GVC affects MRK dispersion. Furthermore, we examine how the relationship between GVC and MRK-dispersion varies across export intensity, import intensity, and firm-level productivity, providing insight into how GVC can affect firms' exposure to competition in the global market differently depending on market conditions and thus generate trade-related productivity gains.

• 통상정보연구
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• 제16권4호
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• pp.103-123
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• 2014

수출성과는 수출마케팅 연구의 핵심적인 주제이다. 본 연구는 기업이 해외 수출시장전략으로 선택한 적응화 전략과 표준화 전략이 실제로 마케팅 변수에 실행된 수준과 그 결과 획득된 수출성과 사이에 어떤 상관성이 있는지를 탐구함으로써 적응화와 표준화의 전략적 활용성을 높이는데 도움을 주고자 하였다. 본 연구의 실증분석은 우리나라 수출시장으로 진출하고 있는 뉴질랜드의 수출기업을 대상으로 하였다. 적응화와 표준화는 전략 실행의 정도와 수준을 의미하는 연속적인 개념으로 각각 강점과 약점을 가지고 있다. 실증분석 결과 적응화 전략의 경우 수출성과(만족과 불만족한 수출사업)의 차이는 제품 변수보다는 가격, 장소, 촉진 변수에서 유의미하게 나타난 반면, 표준화 전략의 경우 가격, 장소, 촉진 변수보다는 제품 변수에서 수출성과의 차이가 발견되었다. 이는 기업이 해외 수출시장을 공략할 때 제품 변수는 표준화 노력을 그리고 가격, 장소, 촉진 변수는 적응화의 노력을 기울일 때 만족한 수출성과를 얻게 될 가능성이 높다는 점을 시사해주고 있다.

• 무역학회지
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• 제44권1호
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• pp.237-251
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• 2019

This paper seeks to recommend strategic policy options geared towards enhancing sophistication level of Ulsan City's major export industries in the Republic of Korea. Ulsan's major export industries, including shipbuilding, automobile and petrochemical industries, turn out to be based mostly on low to medium technology with low R&D intensity suggesting relatively low level of product sophistication. Using a recent Eurostat high-tech industry classification table which suggests 9 high-tech industries, the paper identifies Ulsan's chemical industry as the only RCA industry. Focusing on chemical industry products at HS 6-digit level, specific products are identified at the efficiency frontier for future policy considerations.