• Environmental and Resource Economics Review
• /
• v.27 no.1
• /
• pp.161-194
• /
• 2018

This study examines performances of cooperatives relative to investor-owned firms in the US electric power industry. Using a panel data of firms from 2001 to 2014, the results show that cooperatives operate under conditions of more difficult capital constraints associated with the higher cost of debt and limited access to external equity capital. While investor-owned utilities, especially the large utilities that are less capital constrained, take benefits from substantial scale economies existing in the industry, the marginal cost of operation substantially increases with output for cooperatives. I do not find differences in profitability between the two ownership structures, measured by return on assets and return on equity. Plant capacity utilization, which is a measure of plant efficiency conditional on the operation, is also not statistically different between the two groups.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.7 no.3
• /
• pp.1-16
• /
• 2012

Under the international business circumstance, global supply chain management is considered a vital strategic challenge to small and medium-sized enterprises(SMEs) suffering from deficient resources and capabilities to exploit overseas markets comparing with large corporations. That is because they can expand their business domains into overseas markets by establishing strategic alliances with global supply chain partners. Although a wide range of previous researches have emphasized the cooperative networks in the chain, most are ignoring the importance of developing relational characteristics such as trust and reciprocity with the partners. Besides, verifying the relational factors influencing firms' export performances, some studies proposed different and inconsistent factors. According to the social capital theory, which is the social quality and networks facilitating close cooperation of inter-individual and inter-organization, provides the integrated view to identify the relational characteristics in the aspects of network, trust and reciprocal norm. Meanwhile, a number of researchers shows that global entrepreneurship is the internal and intangible resource necessary to promote SMEs' internationalization. Upon closer examination, however, they cannot explain clearly its influencing mechanism in the inter-firm cooperative relationships. This study is to verify the effect of social capital accumulated within global supply chain on SMEs' qualitative and quantitative export performance. In addition, we shed new light on global entrepreneurship expected to be concerned with the formation of social capital and the enhancement of export performances. For this purpose, the questionnaires, developed through literature review, were collected from 192 Korean SMEs affiliated in Korean Medium Industries Association and Global Chief Executive Officer's Club focusing on their memberships' international business. As a result of multi-regression analysis, the social capital - network, trust and reciprocal norm shared with global supply chain partner - as well as global entrepreneurship - innovativeness, proactiveness and risk-taking - have positive effect on SMEs' export performances. Also global entrepreneurship affects positively social capital which has mediating effect partially in the relationship between global entrepreneurship and performances. These results means that there is a structural process - global entrepreneurship(input), social capital(output), and export performances(outcome). In other words, a firm should consistently invest in and develop the social capital with global supply chain partners in order to achieve common goals, establish strategic collaborations and obtain long-term export performances. Furthermore, it is required to foster the global entrepreneurship in an organization so as to build up the social capital. More detailed practical issues and discussion are made in the conclusion.

• Asian Journal of Innovation and Policy
• /
• v.4 no.3
• /
• pp.328-359
• /
• 2015

To explain the performance gap between firms in the same industry, this study focuses on innovation. It provides a new framework using the dynamic-capability view based on empirical analysis of domestic businesses. The findings of this study are as follows: First, when the uncertainty and competition intensity in the business environment and the level of innovation have “fit”, it means that when the former goes up, so does the latter. In this regard, when the innovation capability of a firm is high, being “fit” means that the level of innovation is also high. When there was fitting innovation on industrial environment and innovation capacity, companies were able to achieve relatively high performance. Also, it was confirmed that instead of innovation for innovation capacity, innovation for industrial environment led to relatively higher performances of firms.

• 한국벤처창업학회:학술대회논문집
• /
• 2006.04a
• /
• pp.139-166
• /
• 2006

This paper explored strategic types of Korean SMEs in manufacturing industries and investigated key differences among strategic types by analysing firm size, product market, technological capabilities and performances. According to previous studies, this papers categorized SMEs into four strategic types-technological innovative SMEs, multi-product SMEs, capital-intensive SMEs, and OEM-based SMEs types. Based on the empirical survey from 1,077 Korea SMEs in diverse industries, there are significant differences among strategic types on the key characteristics including product market, resource capability and performance. Finally this paper suggested implications for the studies on SMEs and managerial and policy directions to support SMEs.

• Korean Management Science Review
• /
• v.23 no.3
• /
• pp.209-224
• /
• 2006

The mobile communication technology would be one of the most appropriate means for achieving process innovation in the actual business area. This article performs a simulation study to examine the effect of introducing a mobile technology to the after-sales service and its logistics process. The performances of the two different systems, before and after introducing a mobile technology, are examined based on operational cost, operational efficiency, and customer service level using a discrete event simulation. The real-world data, extracted from a leading Korean electronics firm, was collected for this study. The results show that the TO-BE(after) model outperforms the AS-IS(before) model over all the performance indices. And the effects of introducing the mobile technology are more significant on the more tightly controlled inventory policy.

• Asia pacific journal of information systems
• /
• v.14 no.1
• /
• pp.23-41
• /
• 2004

This paper proposes an empirical evidence about contextual factors which determine perceived business performances of small firms resulted from IT investment. In this paper, small firms are defined as firms of which total employees are below fifty. These small firms account for 95% of total number of private companies in Korea. We used a perceived IT performance model based on Balanced Scorecard framework to evaluate IT performance of small firms. And data were collected by Web and e-mail survey method with multiple screening. Statistical results show that business performance of small firms are differentiated in terms of firm size, location, longevity, age of owner, education level of owner, while industry sector, profitability, sex of owner don't make significant differences.

• STI Policy Review
• /
• v.1 no.3
• /
• pp.53-68
• /
• 2010

This paper empirically evaluates the effects of regional and industrial R&D on the performances of individual firms in two separated stages: (1) the stage of technological outcome from R&D and (2) the stage of economic outcome from technological outcome. Technological spillovers are separated from negative congestion effects through the stage-specific estimation. The firm-level Korean Innovation Survey data merit in coping with the endogeneity problem inherent in the estimation of spillovers. The estimation results show that: (1) there exist significant R&D spillovers both in regional and industrial dimensions, (2) the hypothesized technological spillovers and economic congestion effects are both in effect, and (3) firms with smaller individual R&D investments show greater spillovers.

• 한국벤처창업학회:학술대회논문집
• /
• 2006.11a
• /
• pp.61-85
• /
• 2006

The Purpose of this study is to prove empirically the relationship between ventures' technology valuation and performance, while considering the uniqueness of Korean firms. We use technology valuation index, marketability valuation index, business valuation index as ex-ante independent variables, use firm's performance(sales, asset, operating income ratio, net income ratio etc) as ex-post dependent variables. Parametric analysis such as Paired T-test, ANOVA are applied in this paper. The results of Empirical analysis is summarized as follows. Firstly, operating income ratio and net income ratio are different in portfolios classified by technology valuation index. Secondly, the growth rate of operating income is different in portfolios classified by technology valuation index. Finally, this study has shown that technology valuation index has possibility which it use the predictive variables of ventures' performances.

• Journal of Information Technology Services
• /
• v.5 no.1
• /
• pp.35-46
• /
• 2006

In recent years, academic scholars and practitioners have given increasing attention to the importance of strategic performance measurement systems including both financial and non-financial performance metrics. The Balanced Scorecard (BSC) is known as integrated performance management framework that helps an enterprise to translate strategic objectives into relevant performance within an organization. While the current literatures and management articles offer BSC design and implementation. there are few reports of detailed validation of using the rationalized sets of CSF (Critical Success Factors) and KPI (Key Performance Indicators) for the Korean construction industry. This paper first propose the perceived sets of CSF/KPI using current literatures and validate with a major construction company's executives and senior managers in Korea. The paper then examines whether the perceived sets of CSF/KPI have co-relationships with the firm performances. The results of the research contribute in heightening of competitiveness of the Korean construction companies in strategic and performance management.

• International conference on construction engineering and project management
• /
• 2009.05a
• /
• pp.1463-1467
• /
• 2009

Construction projects are vulnerable to diverse internal and external factors, requiring systematic and consistent performance management along the entire life cycle of a project. In particular, urban renewal projects have a range of performance measures, including policy reconciliation and permits, project development, project financing, design, construction, and occupancy and maintenance. This requires a program-level megaproject approach, which integrates each stage of a project as well as variety of stakeholders' interests in pursuing a project from different perspectives. However, previous research on performance management has focused especially on the limited scopes of factors, including cost, quality, and schedule at the project level or on financial factors at the firm level. Given the lack of current approaches, this study suggests an integrated and systematic performance management scheme to control urban renewal megaprojects at the broadened perspectives of the program level. To this end, this study adopts the balanced scorecard approach and elicits key performance indices associated with various project configurations. Finally, an algorithm is presented for quantitatively assessing the level of performances along whole life cycle of urban renewal megaprojects.