• Journal of the Korea Academia-Industrial cooperation Society
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• v.17 no.12
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• pp.162-169
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• 2016

Using 1795 observations from the 5 year-359 firm panel data collected during the period from 2009 to 2013 in Chinese stock exchanges, this study examines the impact of the controlling shareholders' ownership on R & D expenditure. This empirical study finds that when firms are state-owned, the controlling shareholders' ownership has a U shaped relation with the level of R & D expenses. A non-linear relation is also found when piece-wise regression models are applied. This empirical study also finds that when firms are private-owned, the controlling shareholders' ownership is negatively related to the level of R & D expenses, and no structural changes in the relation are found when piece-wise regression models are applied. These results support the hypothesis that the effects of the controlling shareholders' ownership on R & D expenses may differ depending on the ownership type of the controlling shareholders. This finding suggests that the differences in the controlling shareholders' incentives due to their ownership type should be considered when exploring the relation between the controlling shareholders' ownership and corporate strategic decisions.

• Journal of Technology Innovation
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• v.31 no.3
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• pp.139-169
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• 2023

This study analyzes the effects of firms' technology innovation(patent applications) on employment(number of workers and proportion of high-skilled workers) and corporate performance(sales per worker), while considering the two-way causal relationships between these variables. We used the three-stage least squares(3SLS) estimation to examine system of equations in which the dependent variables affect each other with a two-year lag wherever relevant, and applied it to firm-level panel data of Korean manufacturers with 100 or more workers. Our data covered the period of 2005-2017. Exogenous variables, such as firms' managerial and other characteristics, were controlled as explanatory variables. The identification variables for each equation included firms' R&D intensity, labor cost per worker(or operation of firms' own R&D center), and investment on worker training. We find that firms' patent applications increased number of workers, proportion of high-skilled workers, and sales per worker; the causal relationships in the opposite direction were also significant. Evidently, firms' technology innovation is critical to the growth and quality improvement of employment as well as sustainable corporate growth.

• Journal of Labour Economics
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• v.28 no.2
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• pp.1-27
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• 2005

This study intends to analyze outcomes in labor market of students who graduated from provincial colleges. And For this aim, this study used 'Youth Panel Data' (2001, 2002) of HRD Korea Work Information Center. The reference groups are students who graduated from capital region colleges. The main results of this study are as follows. Students who graduated from provincial colleges have difficulty in acquiring job information than capital region college graduates. And students who graduated from provincial colleges get first job in smaller firm than capital region college graduates. The monthly wage level of students who graduated from provincial colleges is less than that of capital region college graduates. And the outcomes in labor market of students who graduated from Chungcheong region colleges are better than those of students who graduated from Yeongnam region and Honam region colleges. As results of this study show, there are differences between provincial college graduates and capital region college graduates. And there are differences between Chungcheong region college graduates and another region (namely, Yeongnam region and Honam region) college graduates.

• Korean Journal of Social Welfare
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• v.68 no.4
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• pp.97-118
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• 2016

The primary goal of this study was to investigate factors affecting job satisfaction of injured workers who returned to work. There are two types of injured workers' returning to work returning to pre-injury job and getting a new job. After separating the two types of workers we conducted the multiple regression analysis on the data from the Workers'Compensation Insurance Panel of the Korea Workers' Compensation and Welfare Service Corporation(2014). The sample consisted of 1,333 occupationally injured workers who were finished with medical treatment(693 workers returned to previous work place, and 640 workers found new work places). Main results are as follows. First, injured workers who got new jobs were vulnerable to sustainability to job, work status, average monthly wage as well as job satisfaction compared with injured workers who returned to pre-injury job. Second, gender, educational level, skill fitness, average monthly wage, welfare benefits, family income/leisure life/residential environment/social relation satisfaction, and maintenance of relation with business owner during medical care were related to job satisfaction of injured workers who returned to pre-injury job. Third, gender, work status, skill fitness, continuous work possibility, average monthly wage, family income/leisure life/social relation satisfaction, substitute worker for assigned task during medical care and maintenance of relation with business owner during medical care affected on job satisfaction of injured workers who got new jobs. Based on these findings implications for policy and interventions were discussed in regards to job satisfaction of injured workers.

• Journal of Technology Innovation
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• v.21 no.2
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• pp.169-197
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• 2013

Despite many theoretical and empirical studies, general causality between IPRs system, firm technological innovation and financial performance is not clear. This study notices that the core factor to create financial performance is different by each industry. The study analyzed the effect of IPRs system on innovation and economic growth targeting 3 industries; pharmaceutical industry to which the basic track of creating performance is applied (strengthening IPRs${\rightarrow}$increasing R&D input/output${\rightarrow}$increasing sales); semiconductor industry where the relationship between stronger IPRs and R&D input/output is weak; and shipbuilding industry which has weak correlation between R&D and sales. It used panel data for 15 years since TRIPs when the patent institution in Korea reached up to the level of advanced countries, and applied the dynamic regression model which estimates the fixed effect model with difference-GMM. As a result, stronger IPRs increased R&D input/output, and financial performance in pharmaceutical industry, but has no influence on semiconductor and shipbuilding industries. That is, it is necessary to customize the construction of system and policy for strengthening IPRs by each industry, and unitary strengthening or weakening may have no significant impact on financial performance improvement in specific sectors.

• Management & Information Systems Review
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• v.34 no.3
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• pp.101-123
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• 2015

Amidst the growing uncertainty in external environments, securing and retaining superior human resources is becoming emphasized as a key means for organizations to achieve competitive advantages. Particularly, star employees-human resources that are characterized by their ability to create extraordinary performance relative to other peers-are increasingly gaining attention in both academia and industry because of its importance in knowledge-based industries. However, despite the prevailing recognition for star employees, few previous literature have attempted to empirically test the direct relationship between the ratio of star employees in an organization and organizational performance. Considering both the potential for positive and negative influence of star employees on organizations, the relationship between the ratio of star employees and organizational performance can not only be a simple linear relationship but can also exist in a curvilinear form. Building on the existing literature on star employees, this paper establishes competing hypotheses for the two possibilities of curvilinear relationship; as the ratio of star employees increases, marginal effects can either increase (i.e., U-shaped curvilinear relationship) or decrease (i.e., inverted U-shaped curvilinear relationship). Employing an unbalanced panel data of 35 Korean brokerage firms between years 2008 and 2013 with 134 observations, the relationship between the ratio of best analysts (i.e. star employees) as selected by Maeil Business Newspaper and financial performance (i.e. organizational performance) of corresponding brokerage firms is examined. Empirical results indicate that while organizational performance increases as the ratio of star employees increases, its positive effect diminishes over time which provides support for the curvilinear relationship with decreasing marginal effects. Our research findings imply that star employees create value in knowledge-based industries; at the same time, implications are given as results calls for caution for excessive dependence on star employees beyond a certain level.