• 제목/요약/키워드: Global corporate

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The Effect of the Global Financial Crisis on Corporate Investment in Korea: From the Perspective of Costly External Finance

  • JEONG, DAEHEE
    • KDI Journal of Economic Policy
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    • 제37권1호
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    • pp.19-44
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    • 2015
  • This paper examines the effect of the global financial crisis on corporate investment in Korea. Specifically, the crisis was considered to have possibly constrained firm-level investment as the negative shock to the credit supply dramatically unfolded. As Duchin et al. (2010) demonstrated, if a negative supply-side shock is evident during a crisis period, larger cash holdings before the crisis will lead to fewer constraints to corporate investment, or vice versa. In order to investigate the supply-side effect of the crisis, we use firm-level financial data, including firms listed on the Korean stock market as well as small and medium-sized enterprises. We find that corporate investment declined significantly after the crisis, even if we control for factors associated with the demand side, such as contemporaneous capital productivity and cash flow. More importantly, the decline is positively and significantly related to cash holdings before the crisis, implying the negative effect of a credit supply shock. Small and medium enterprises experienced relatively sharp investment declines compared to those of larger firms, and the relationship between pre-crisis cash amounts and the degree of investment decline is greater than that in large firms. Additionally, we examine whether the negative effect persists up to the present, finding evidence that the cash-investment relationship continues in small and medium-sized enterprises.

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A Study on the Success Factors of Sinar Mas Group in Indonesia

  • Ruixuan Chen;Yuxue Wang;Myeongcheol Choi;Zuoxin He;Mingsheng Li
    • International Journal of Advanced Culture Technology
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    • 제11권2호
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    • pp.118-124
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    • 2023
  • With the acceleration of globalization and economic integration, multinational enterprises are becoming more and more important in the international market, and Sinar Mas Group, one of the largest integrated companies in Indonesia, has become one of the most influential overseas Chinese companies in Indonesia due to its outstanding performance and leadership position. This study aims to analyze the success factors of Sinar Mas Group and reveal its competitive advantages in the global market. Founded in 1962, Sinar Mas Group is an integrated multinational company headquartered in Indonesia, with significant presence in various fields such as paper, palm oil, real estate, finance and energy, with operations in Indonesia and many other countries and regions around the world. This study investigates the aspects of corporate history, corporate status, and corporate competitiveness. In addition, this study analyzes the reasons for Sinar Mas Group's success using the SWOT model. By comprehensively analyzing these key factors, this paper provides readers with an insight into the vitality and remarkable achievements of this Indonesian corporate giant in the global market. This study will help Korea enter Indonesia and contribute to Indonesian business research.

세계 섬유패션시장의 환경변화와 우리 기업의 과제 (Environmental Changes in the Global Textile & Fashion Market & their Implications for Korean Firms)

  • 조경숙
    • 복식
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    • 제63권3호
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    • pp.151-165
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    • 2013
  • This paper aims to examine the implications of the global market for Korean textile and fashion firms with regard to recent changes in the international business environment to improve the corporative management to the level that the global economy demands. The trade and business environment is moving toward the paradigm of glocalism. As the geographical scope of the market and business environment continues to expand with the aid of technological development, demands for global standards as a means to offer universal validity in business settings have been raised. The glocalized society values diversity as a notion beyond global standardization. The world trade orders are subject to free trade; however, protectionism has substantially promoted trade barriers in the name of the environment and safety issues, ethical managements, and intellectual property rights. For sustainable development in the global market, Korean firms should strive to implement global standards related to these issues and corporate social responsibility in their business settings.

A Study on Consumer Value and Corporate Social Responsibility Distribution Activities

  • Lee, Jae-Min
    • 유통과학연구
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    • 제17권4호
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    • pp.17-26
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    • 2019
  • Purpose - Today's companies concentrate intensively on building consumer value and corporate reputation for continuing growth and advancement in an ever-changing global business management environment. This research intended to study the correlation between consumer value and corporate social responsibility (CSR) activities in building corporate reputation with consumers. Research design, data, and methodology - Online and offline surveys were conducted among male and female adults across Korea. Surveys were conducted for three weeks from August 21, 2018 to September 8, 2018. The samples consisted of 350 offline and 112 online surveys, and a combined total of 462 samples was used for final analysis. Result - Higher consumer value means a greater chance that consumers will select that company's products over those of competitors. For competitive advantage purposes, companies use various consumer management strategies to bolster consumer value and corporate reputation with consumers. Conclusions - Brand assets are subject to ethical responsibility, which is a dimension of corporate social responsibility. Of note, one relevant finding about brand assets (similar to findings in previous research) is the existence of confusion about brand recognition and brand image as perceived by customers.

The Role of Corporate Image and Brand Personality in Global Consumer Choice: An Empirical Exploration

  • Lee, Bong-Soo
    • Journal of Korea Trade
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    • 제25권2호
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    • pp.178-195
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    • 2021
  • Purpose - This study aims to analyze consumer in the multidimensional aspect of a combination of corporate image and brand personality in order to identify the structural causal relationship between consumer choice and corporate image and brand personality. Design/methodology - This study combined theoretical literature studies with empirical field studies using questionnaire survey methods. To achieve this objective, a hypothetical causal model consisting of three potential variables and nine measurement variables was created based on prior research, and a structural equation model was used to identify the suitability of the model. Findings - The hypothetical model established by this study was judged to be generally appropriate. In particular, corporate image was shown to have significant static direct effects on consumer choice and brand personality. It was also shown that brand personality had a direct static effect on consumer choice, and that corporate image has an indirect significant impact on consumer choice by moderating brand personality. Originality/value - Previous papers have mainly focused on one-dimensional studies of various images, such as companies and brands. However, this paper used a model that analyzed consumer choice through multi-clue information rather than corporate images as the only clue to consumer choice.

A Study on Linking Korean Wave and Corporate Image on Country Image, Perceived Quality: A Study of China

  • Kim, Sang Mook;Kim, Joo Nam;Park, Min Jae
    • Asia Marketing Journal
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    • 제20권1호
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    • pp.69-87
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    • 2018
  • This study examines the linkage between Korean wave, corporate image and country image, perceived quality of products made in the country. To close a gap lacking empirical studies on impacts of corporate image to country image and to further understand impacts of Korean wave, this study conducts survey over Chinese consumers to test the effects of corporate image, Korean wave to the country image, and verify on its effects to perceived quality of the products made in the country. The results show that both corporate image and Korean wave influences to form positive country image of Korea, and perceived quality of Korean made products. The size of effects varies upon products type and stimuli. This study could provide policy makers insights how to promote country image as well as support SMEs for developing overseas markets. Also, it could give marketers valuable implications to develop effective global marketing strategies using cultural assets, country image and salient corporate image.

혁신적 전략기업 형성을 위한 기업문화의 역할 (Role of corporate culture in shaping up innovative, strategy-driven corporation)

  • 이원창;서의호
    • 한국경영과학회:학술대회논문집
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    • 한국경영과학회 2000년도 추계학술대회 및 정기총회
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    • pp.22-25
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    • 2000
  • With the dawn of the 21st century, the corporate business environment started to witness the unprecedented, intense competition on global basis. As a result, the kind of corporate business activity that can respond swiftly to the new changes emerged as one of the most critical factors to increase corporate competitiveness. Being reborn as a strategy-focused organization means seeking innovation. And the strategy not involving innovation is just meaningless. It is this innovation that lies at the heart of the corporate strategy, and that is the only way for continuation of the corporation. The most important pending issue facing companies today is to bolster corporate competencies fit for new business environment, to develop corporate culture required for getting competitiveness edge back, and ultimately to put the company on the continued growth path. Corporate culture, as the very underlying belief and philosophy, is not just woven into the fabric of the corporate management strategy and into the way the company is doing its business. It also, as a regulation and norm for its employees to stick by, affects the way they think and behave. This paper aims at presenting the role of the corporate culture in working out problems encountered by companies today, like corporate innovation, instilling vitality to the organization, beefing up the underlying corporate capabilities, and making transformation required by the changing business environment.

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국가 이미지와 브랜드에 관한 유형화 연구: Q방법론 적용을 중심으로 (Typology Study on Brand and National Image: Focus on Q-methodology Application)

  • 이제영;최영근
    • 한국언론정보학보
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    • 제38권
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    • pp.7-39
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    • 2007
  • 이 논문에서는 한국을 대표할 수 있는 기업인 삼성의 브랜드가치를 평가해보고, 글로벌 기업이 되기까지의 과정과 삼성의 국가 이미지가 어떻게 변화하고 있는지를 알아보았다. 이를 위해 글로벌 기업이 국가 이미지에 미치는 영향과 함께 국가가 자국의 글로벌 기업에게 끼치는 영향에 대해서 심층 설문평가를 통해 분석하고, 나아가 국가와 기업 간의 상호 협력의 중요성에 대해서 논의하고, 아울러 이전의 설문조사 방식에서 면밀히 분석하지 않고 간과하기 쉬운 개인의 사고나 느낌 같은 주관적 행위를 객관적으로 측정할 수 있는 Q방법론을 도입하여 좀 더 다각적인 방향에서 분석을 꾀하였다. 결과적으로, 21세기 디지털 시대에서의 글로벌 기업의 성장은 곧 한국 브랜드 가치의 성장이며, 나아가 세계로 전진할 수 있는 국내 글로벌 기업들에게 긍정적인 원산지효과를 전해줄 수 있는 계기를 제공하였음을 직시할 수 있었다. 이를 뒷받침해주는 분석으로 Q결과에서는 크게 3가지 유형, 즉 첫째, 제1유형(N=10)은 국내 주도적 유형(Nation-Leading Type), 둘째, 제2유형(N=6)은 국제적 우위 유형(International Superiority Type), 셋째, 제3유형(N=4)은 전형적인 영향 유형(Typical Influence Type) 등으로 분류되었는데, 이와 같은 결과는 삼성이라는 글로벌 기업의 브랜드 가치와 국가 이미지에 있어서 '후광효과'와 '원산지효과'에 적정한 국내외적 파급 역량을 잘 반영하고 있음을 확인해주는 의미 있는 결과라고 볼 수 있다.

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Analysis of Competitiveness Factors of Global Innovative Companies

  • Jae-Kyung Kim;Jon-Mo Yoon;Bong-Soo Lee
    • Journal of Korea Trade
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    • 제26권3호
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    • pp.63-78
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    • 2022
  • Purpose - This study's purpose is to analyze which factors are more important to strengthening the competitiveness of global innovative companies by firstly sampling global 40 enterprises, secondly investigating of study models empirically, thirdly finding out significant implications through research, and finally using this result to help improve global companies' competitive edges. Design/methodology - Developing three research models of hypothesis and using 5 variables such as technology innovation, knowledge management, human resource development, sustainable management, and corporate life, this study was empirically carried out by reliability and validity testing, correlation analysis of variables, and multiple regression analysis of three research models. Findings - Through proceeding empirical analysis study, we found out that technology innovation and sustainable management had a significant impact on strengthening competitiveness through the hypothesis test. Those two factors had positive results and a synergy effect through correlation analysis along with process change and human resource development, which are also important areas in global innovative companies. Originality/value - In line with the fourth industrial revolution era's acceleration and COVID-19's large impact on all industries, global companies are newly developing their business models to cope with external environment change. This study's results would be meaningful for global enterprises and domestic companies to improve their overall competitive edge by reinforcing their innovation strategy, preparing next growth engines, diversifying business portfolios, and setting business milestones.

The Impact of Corporate International Diversification on Audit Fees and Audit Hours

  • Cho, Jungeun
    • International Journal of Advanced Culture Technology
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    • 제10권3호
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    • pp.202-209
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    • 2022
  • This study investigates the association between corporate international diversification and audit fees and audit hours. Korean firms' overseas investment has rapidly increased in recent years and the trend of international diversification is expected to accelerate in the future. Thus, it is important to investigate how auditors respond to globally diversified firms. Our empirical findings show that internationally diversified firms incur higher audit fees and audit hours. This suggests that auditors perceive global diversification as being a higher business risk and require higher external audit fees so that they can decrease audit risk arising from inherent organizational complexity. Further, auditors expand audit procedures to collect more audit evidences, exerting increased audit effort. This study provides empirical evidences that corporate global diversification results in higher audit fees and audit hours. Auditors may refer to these results when planning their audit and determining audit fees and audit hours.