• Title/Summary/Keyword: Financial Consulting

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The Structural Relationships between Control Types over Salespeople, Their Responses, and Job Satisfaction - Mediating Roles of Role Clarity and Self-Efficacy - (영업사원에 대한 통제유형, 반응, 그리고 직무만족 간의 구조적 관계 - 역할명확성과 자기효능감의 매개효과 -)

  • Yoo, Dong-Keun;Lim, Jong-Koo;Lim, Ji-Hoon
    • Journal of Global Scholars of Marketing Science
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    • v.17 no.4
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    • pp.23-49
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    • 2007
  • Salespeople act at the point of MOT with customers and deliver the enterprise's message to the customers. They build up relationships with customers as well as deliver the customer's message to the enterprise. The salespeople's activity at the point of MOT with the customers and the degree of satisfaction of the customers' needs will affect the customers' attitude toward the enterprise, brand loyalty, and retention intention. Ultimately, it will influence the enterprise's financial performance. The control of salespe1ople is one of the most interesting topics of marketing. This research investigates the relationships of the control types over salespeople(positive/negative outcome control, positive/negative behavior control) and job satisfaction and their mediating variables. The mediating variables in the relationships have been identified as outcome/behavior-related role clarity and self-efficacy. The purpose of this study is more specifically as follows: First, it investigate how the perception of salespeople control types affect role-clarity. Second, it examines how the perception of salespeople control types influence self-efficacy. Third, it investigate the mediating role of role-clarity between the perception of salespeople control types and self-efficacy. Fourth, it investigates how role-clarity affect self-efficacy and job satisfaction. Finally, it will investigates how self-efficacy influences job satisfaction. Data were collected from the pharmaceutical industry salespeople and analyzed by SPSS 12.0 and AMOS 6.0. The data were collected by 400 respondents and 377 valid questionnaires were analyzed. The results are summarized as follows: First, positive/negative outcome controls had a positive relationship with outcome-related role clarity. Also positive behavior control had a positive effect on behavior-related role clarity, but negative behavior control didn't influence behavior-related role clarity. Second, positive outcome control influenced self-efficacy positively, but positive behavior control didn't have a positive effect on self-efficacy. In addition negative outcome control and negative behavior control had a positive effect on self-efficacy due to the mediating role of outcome-related and behavior-related role clarity. Third, outcome-related role clarity and behavior-related role clarity influenced self-efficacy positively. Behavior-related role clarity had a positive effect on job satisfaction, but outcome-related role clarity didn't influence job satisfaction. Finally, self-efficacy didn't have any effect on job satisfaction. The contributions of this study are as follows: First, existing studies have investigated the direct causal relationship between salespeoples' control type and performance, but this study investigates the structural causality between salespeoples' control types, responses, and performances. Second, this study found the mediating role of outcome-related/behavior-related role-clarity between outcome/behavior control and self-efficacy. Finally, the findings of this study further insight to existing studies on the relationship between job satisfaction and self-efficacy. The confidence of salespeoples' task influenced job satisfaction positively in existing articles,field studies, but the relationship between these two variables was not significant in this study. This means that there can be a different relationship between confidence and job satisfaction according to salespeoples' business. That is, the business environment may not be satisfying, even if the salespeople say that they have ability and confidence about their business. This means that able salespeople who have ability and confidence about their business are not satisfied with their job advancement in the company. Therefore, enterprise need to provide training that can establish a business environment that can satisfy the salespeole's expectation level which will secure good salespeople. This study may have limitation when applied to future studies. First,in this study as with existing studies it investigates the control level that salespeople feel is being measured. Actuality, the control level that a manager enforces and the control level that salespeople perceive when one is late can be different. There is need to measure lateness from both the perspective of the manager and salespeople should be done to supplement this study in the future Second, this study used variables that were connected with action result but salespeople's job satisfaction is due to the result of control. But, focusing on result of control can provide a more important financial result than sales performance. This study is also limited in that it did not consider financial result by result of control. Further studies on this will need to be done in the future. Third, this study may have a further limitation,because the investigation was restricted to pharmaceutical salespeople selling to hospitals. It is necessary to execute investigations in various industries to increase the generalization of the study findings Fourth, in this study, role clarity and self-efficacy by response variable for control and considered job satisfaction by outcome variable of control was considered. But, can other variables be considered beside response variable and result variable for control? For example, can financial affairs and change of post by outcome variable along with business stress by response variable for control be considered? Therefore, future studies need to consider various control variables. Finally, there is limited supporting research in the field of marketing which restricts the generalization of the study finding along with collecting material through random sampling of a limited size. This research summarizes the research in this area, the difference from the previous research, and provides a discussion of its limitations and the need and direction for further future research.

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A Study on the Effects of Support Service of Gyeonggi-do Cultural Contents Area Business Incubating Center on Corporate Performance: Focusing on the Business Validity of Business Start-Up Items (경기도 문화콘텐츠분야 창업보육센터 지원서비스가 입주기업 성과에 미치는 영향에 관한 연구: 창업아이템의 사업타당성을 중심으로)

  • Hong, Dae Ung;Lee, Il han;Son, Jong Seo
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.12 no.4
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    • pp.47-60
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    • 2017
  • As the recent cultural contents area start-ups are creating remarkable outcomes such as investment attraction together with the reinforced institutional supports from the government, this study aimed to reverify the significance of researches related to correlation analysis between service of Business Incubating Center of Small & Medium Business Administration operated with no separation of business type, and corporate performance, in the aspect of Business Incubating Center in cultural contents area, and also to suggest the importance of establishing the business incubating system in the systematic and rational cultural contents area through the differentiated business incubating service by verifying the significant effects of the business validity of items on corporate performance, and then discovering services suitable for business incubating in cultural contents area, targeting Gyeonggi-do cultural contents area Business Incubating Center recently showing the biggest growth. Especially, contrary to the existing researches, in order to verify the characteristics of Gyeonggi-do Cultural Contents Business Incubating Center, the personal support service and marketing support service were included. It also aimed to understand the effects of the business validity of start-up items on corporate performance. Summarizing the results of this study, contrary to the results of the existing researches saying that spatial & additional support service, management support service, technical support service, personal support service, and marketing support service had significant effects on corporate performance, among the support service of Gyeonggi-do cultural contents area Business Incubating Center, the spatial & additional support service, personal support service, and marketing support service had significantly positive(+) effects on corporate performance while the management support service and technical support service had no significant effects on it. Comparing with the results of the researches on the support service of Business Incubating Center(BI) of Small & Medium Business Administration, the effects of the management support service and technical support service of Gyeonggi-do cultural contents area Business Incubating Center on corporate financial/non-financial performance were not huge. Also, in the results of analyzing the business validity of star-up items, the spatial & additional support service, management support service, and technical support service did not have significant effects on the business validity of start-up items while the personal support service and marketing support service had significantly positive(+) effects on it. In case when selecting companies, Gyeonggi-do Business Incubating Center emphasized the business validity of start-up items. However, the support service provided after the selection did not have huge effects on the business validity of start-up items. Lastly, in the results of analyzing the effects of the business validity of start-up items in Gyeonggi-do cultural contents area on corporate performance, among the success factors of business start-up, the business validity of start-up items was an important element having effects on corporate performance(financial/non-financial) in the cultural contents area.

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A Study on the Influence of Entrepreneurship and Start-Up Competency on Entrepreneurial Satisfaction: Focusing on the Moderating Effect of Flow Experience (창업가정신, 창업역량이 창업만족도에 미치는 영향에 관한 연구: 플로우(Flow)경험의 조절효과를 중심으로)

  • Lee, Sang Hwa;Ha, Kyu Soo
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.10 no.5
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    • pp.137-150
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    • 2015
  • This study investigated the influence of Entrepreneurship, Start-up Competency on Entrepreneurial Satisfaction and the moderating effect of Flow experience. The goal of this investigation is to empirically prove that despite the benefits of educational and financial support, mentoring and consulting which selected applicants received as a part of supporting business for start-up companies provided by national and local government and public organizations, there is a gap between individual entrepreneurs' satisfaction after actual foundation of the company. For the purpose of this investigation, data was collected through a survey with 320 entrepreneurs who were beneficiaries of government's supporting business for start-up companies and have founded their companies less than 5 years ago. For entrepreneurship variables, three factors of innovativeness, proactiveness and risk-taking were reviewed, and also reviewed the three variables network capability, market orientation and marketing capacity as Start-up competency. The collected data was used to perform a multiple regression analysis, and the moderating effect of flow experience was analysed using moderated regression analysis. The result of analysis shows that innovativeness, proactiveness and risk-taking of entrepreneurship positively affected the entrepreneurial satisfaction, and network capability, market orientation and marketing capability also positively affected the entrepreneurial satisfaction. As a result of analysing the moderating effect of flow experience, it appeared that there is a positive moderating effect between entrepreneurship, start-up competency, and the entrepreneurial satisfaction. This result concludes that evaluation items of entrepreneurship and start-up competency as applicant selecting criteria in supporting business for start-up companies, are valid. It is also concluded that start-up supports such as education, funds and consulting are also important, but it is necessary to make changes such as construction of start-up ecosystem and reinforcement of networking support, so that entrepreneurs can have the flow experience themselves in the process after founding a company.

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Efficiency Analysis of the Securities Firms using a Combined BSC and DEA Model (BSC와 DEA 결합모델을 이용한 증권사 효율성 분석)

  • Kim, Youngjin;Jung, Goosang;Hwang, Jae-Joon;Lee, Hyun-Soo;Kim, Sun Ah;Kim, Tae-Sung
    • Journal of Digital Convergence
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    • v.11 no.5
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    • pp.159-168
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    • 2013
  • This study analyze the business efficiency of securities company based on the 2011 performance of 29 securities firms which engage in domestic investment brokerage by applying a combination model of BSC and DEA. And we evaluate business state focused on efficiency which is based on logical system of BSC as business innovation method. The analysis of result is that companies with high customer efficiency index appeared that business efficiency composite index tended to be higher and we identified that customer perspective have an important factor to calculate business efficiency composite index of korea security company. In addition, based on the results of the efficiency analysis we analyze correlation analysis between traditional financial ratio and business efficiency composite index. We confirmed that company of high business efficiency level in terms of BSC have a good record in terms of profitability. BSC-DEA combination model expect to be utilized in security industry sector as well as other industrial sectors as good business indicator to determine the business efficiency and to be used a model can be evaluated the integrated firm valuation of tangible and intangible assets.

Study on VC Investment Improve Growth and Productivity of VC: Backed firms Focused on Kosdaq Listed Bio Venture Company (코스닥 상장 바이오벤처기업에 대한 벤처캐피탈 투자가 바이오벤처기업의 경영성과에 미치는 영향에 관한 연구)

  • Shin, Jin-O;Ha, Gyu-Soo
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.11 no.1
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    • pp.85-95
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    • 2016
  • Generally a venture capital aims at investment and support Venture businesses that signifies a start-up which has high technologies but frailty of the economy so that raise fund from financial agencies at high risk rate, it has high risk but when the venture businesses launch into general orbit, the venture capital guarantee high-rate profits. Venture capital do not just provide risk capital but also takes a role as a mentor for continuous growth with total consulting service at business and technical management. Also it offers in-depth support to reform the supported enterprise in order to enhance the competitive. Venture capital receives attention for years as a principal agent to be promoted strategically at national level. Bio venture, a major concern of venture capital and one of core industries in Korea, is different from other industries because it needs long-term and large scale of investment. these factors bring about difficulties in an investment and growth. Therefore, it is very important to identify growth and profitability of start-ups and small and venture businesses with long-term appreciation above all other industries. This research analyze management results of bio venture businesses empirically by investment from venture capital. according to the results, bio venture businesses need huge capital and a long gap of time, henceforth, formation of model for growth is necessary with angel investing as well as venture capital. Since, there are not many listed bio venture businesses, significant statistical result would be limited. This research studied at only economic focus but further study need to examine a question from various angles.

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The Relationship Between Expenditures for Information Technology and Organizational Performance : Empirical Evidence From Korean and American Firms (정보기술(情報技術) 지출(支出)이 조직의 경영성과(經營成果)에 미치는 영향(影響) : 한.미(韓.美) 기업(企業)을 대상으로 한 실증연구(實證硏究))

  • Kim, Chang-Su
    • Asia pacific journal of information systems
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    • v.7 no.1
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    • pp.25-48
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    • 1997
  • This study examines whether expenditures in information technology (IT) are associated with increases in the Tobin's q ratios a measure of organizational performance. It uses two groups of sample, Korean and American firms that disclose IT expenditures. For the all-firms group of each country, the association between IT expenditures and Tobin's q ratios is positive and statistically significant. But the association varies among industries. For Korean firms, IT expenditures appear to increase Tobin's q ratios for the machine and equipment manufacturing industry group (SIC3-2). IT expenditure ratio of this group as a percent of total sales is highest among the industry groups. For all service industry groups(SIC4&5), the estimated coefficient of IT expenditures is positive but statistically insignificant. For American firms IT expenditures in most of the manufacturing industry groups appear to increase only a little, if at all, for the Tobin's q ratios. But IT expenditures appear to have a greater impact on Tobin's q ratios for all service industries (SIC4-7). For three service industries tested (transportation and telecommunication- SIC4, financial- SIC6, consulting and other service industry- SIC7), the estimated coefficient of IT expenditures is positive and statistically significant. The evidence from both Korean and American firms suggests that IT expenditures in service industries provide a greater impact on an organizational performance than ones in manufacturing industry. To test whether service industries use a competitive strategy utilizing IT as a core competence, the samples ore divided into two groups, service and manufacturing industry. For Korean firms, both IT and R&D expenditures in manufacturing industry are associated with increases in Tobin's q ratios. But for service industry, the estimated coefficient of only IT expenditure is positive. For American firms, the estimated coefficients of both IT and advertising and R&D (ARD) expenditures in manufacturing industry are positive but the coefficient of only ARD is statistically significant. For service industry, the estimated coefficient of only IT expenditure is positive and statistically significant. The evidence may suggest that manufacturing industry uses both R&D and IT strategies to increase a competitive advantage but uses R&D strategy as a core competence. However, service industry uses IT strategy as a core competence to increase a competitive advatage.

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A study on the operation status and effective management of mixed-age classes in kindergartens (유치원 혼합연령학급 운영 실태 및 개선 방안에 관한 연구)

  • Lee, JinWha;Eom, Ji-Won
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.17 no.12
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    • pp.253-261
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    • 2016
  • This study discusses the effective management of mixed-ages classes in kindergarten. For the study, 300 kindergarten teachers in charge of mixed classes for regular courses completed a self-reported questionnaire through a web survey. The data were analyzed by chi-square test and presented by frequency and percentage. Mixed-ages classes had relatively fewer children than one-age classes and they were prevalent in public kindergartens and rural areas. The results were as follows. First, mixed-ages classes were induced by the small number of young children. Second, teachers managed their classes with difficulty due to the lack of supporting staff and few chances for additional teaching training. Third, teachers needed supporting human resources for their teaching and administration assistances. About 23.0% of kindergartens received assistance such as additional training, financial assistance, and consulting supervision from related institutions. The study results suggested the challenges in regulations of age ratio in mixed-ages class, additional teaching training for teachers in mixed-ages classes and replacement of mixed-ages class to same age class as the long-term plan.

Location and Linkages of Small Firms in the Greater Cincinnati Metropolitan Area, Ohio (소규모 기업의 입지 및 연계구조 관한 연구 -미국 오하이오주 씬씨내티 대도시 지역의 경우-)

  • Lee, Bo-Young
    • Journal of the Korean association of regional geographers
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    • v.5 no.1
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    • pp.121-135
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    • 1999
  • This study investigated the location conditions, spatial linkage structures, and firm specific problems of small firms of the Greater Cincinnati metropolitan area by sectors and by areal distribution. The major locational advantages were closeness to customers and suppliers followed by accessibility to inter-state highways. These results were supported by spatial linkage structures in which within-region linkages occupied a greater portions of linkage, showing the importance of small firms in the regional economy. The linkage patterns showed distance decay effect with high elasticity. While there were no significant differences of locational conditions and spatial linkage structures of small firms between core and peripheral area, a slight difference was identified among sectors. Chemical related manufacturing firms show different locational conditions and spatial linkage structure with weak within-local linkages. The main locational disadvantages were lack of qualified labor, undesirable neighborhood, heavy tax, and space shortage. Considering the biggest problems such as lack of qualified labor, difficulties in sales/marketing, low accessibility to financial resource, and technological inability, the inter-related cooperative business networks among firms and regional institutions, consulting companies, chamber of commerce, and universities are needed to stimulate regional economic development and survival of small firms.

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The Effect of Store Characteristics of a Supermarket on Store Loyalty: A Comparative Study of the Local Supermarket and the Super Supermarket (슈퍼마켓 점포속성이 점포충성도에 미치는 영향: SSM과 독립자영 SM의 비교연구)

  • Ahn, Sung-Woo;Kwon, Sung-Ku
    • Journal of Distribution Science
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    • v.10 no.11
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    • pp.61-70
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    • 2012
  • Purpose - The entry of Super Supermarkets (SSM), operated by large corporations, into the retail distribution market weakens the competitive power of local supermarkets (SM) and their families leading to a rapid collapse of the local-SM market. Accordingly, this is a very sensitive and urgent issue in Korean society and politics. Therefore, the government is required to take steps to activate a local-SM market and regain the loyalty of their customers. However, in spite of the urgent need of a comparative study on the advantages and competitive power of local-SM in relation to the SSM, little research has been done on this issue to date. One purpose of this study is to analyze the differences in store characteristics of the local SM and SSM, and to explore the relationships amongst various store characteristics, such as consumption emotion, relation quality, and store loyalty between store types to provide an efficient solution to activate a local-SM market. Research design, data, methodology - To analyze the differences in the evaluation of store characteristics between store types, and to test the moderator and mediator effects, data were collected from 488 customers in Seoul, Incheon,and Gyeonggi Province. The theoretical model consists of four hypotheses, and data was processed to test these using factor analysis, t-test, regression analysis, hierarchical regression, and the three step regression proposed by Baron and Kenny. Results - First, the analysis shows that local-SM customers evaluate location characteristic factors significantly higher compared to SSM customers. However, SSM customers evaluate quality of merchandise, sales promotion activities, and store environment significantly higher. Yet, there are no significant differences in the evaluation of consumption emotion, relation quality,and store loyalty between the store types. Second, the analysis of moderator effects of the store type show that sales promotion and store atmosphere factors have a significantly negative moderating effecton positive consumption emotion, while positive consumption emotion has a significantly positive moderating effect on absorption of relation quality, while there are no significant moderating effects between consumption emotion and store loyalty. Third, while both trust and absorption of relation quality are partially mediated between consumption emotion and store loyalty, only absorption is partially mediated between positive consumption emotion and store loyalty. There are no significant mediating effects of absorption between negative consumption emotion and store loyalty. Conclusions - We strongly recommend that location restrictions on entrance of SSM into local-SM market should either be further strengthened or sustained for the activation of the local store market. Government should strengthen financial support to improve the quality of merchandise, sales promotion, employee education, store environment of the local-SM by providing appropriate business consulting. Moreover, the result implies that the owners of alocal-SM should take measures to increase customers' absorption and store loyalty, such as store cleanliness, maintaining a delightful atmosphere at the store, and training employees on attitudes towards customers. As this study is restricted within Seoul, Incheon, and Gyeonggi Province, care needs to be taken in generalizing the interpretation and application to the national level.

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A Comparative Study on the Korean Child Welfare Law and the Japanese Child Welfare Law (한일 아동복지법의 내용에 관한 비교연구)

  • Lee, Hye-Won
    • Korean Journal of Social Welfare
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    • v.58 no.2
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    • pp.167-195
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    • 2006
  • The purpose of this study is to suggest the revision direction of the Korean Child Welfare Law based on the results of the comparative analysis on the Korean Child Welfare Law and the Japanese Child Welfare Law. The main results are: Both laws have only two provisions about children's participation right. The child protective system in Japan secures the swiftness of within-two-months period of temporary protection through the child consulting center, the investigation right by the child welfare worker, publicity, enforcement on the parents' rights, and the network with the nearest child supporting center. Furthermore, those provisions with the notifying obligation by a finder of the child who needs protection and the limit of protection period are guaranteed in order to ensure the effectiveness of law enforcement. However, Korean child protective system functions only as pre-substitutive service. While the provisions for the disability children account for 21.2% of the total Japanese law, there is no provision on that in the Korean law. The Japanese law is substantially different from the Korean law in a sense that it obligates the minimum quality criteria of child service and national financial burden on the child welfare. While the Japanese law clearly stipulates the national responsibility in relation to the degree of the rights, the Korean law does not directly touch upon it. Furthermore, the Japan's law guarantees that not only children but also protectors retain the right to choose and apply for services.

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