• Journal of Korea Technology Innovation Society
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• v.14 no.3
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• pp.466-487
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• 2011

This study analyzed the effect of small and medium businesses' R&D intensity and patents on their price-earnings (P/E) ratios. Regression analysis was conducted on a sample of manufacturers listed on the Korean Securities Dealers Automated Quotations (KOSDAQ) for the past decade (2000~2009). The result is summarized as follows. First, a negative correlation was identified between companies' R&D intensity and their P/E ratios, but no significant relationship was found between their numbers of domestic patent applications and registrations and P/E ratios. Second, the analysis of the effect of the companies' R&D intensity on their P/E ratios resulted in a negative correlation of -1%. Third, the analysis of the effect of the companies' number of domestic patent applications and registrations on their P/E ratios showed that they did not have any significant relationship. Fourth, high-tech firms' R&D intensity had a negative correlation of -1% with their P/E ratios, but had a positive correlation of 1% with their numbers of domestic patent applications. Furthermore, the R&D intensity of middle-to-high and middle-to-low tech enterprises had a negative correlation of -1% with their P/E ratios, whereas their numbers of domestic patent applications and registrations had no significant relationship with their P/E ratios. The above results suggest that to produce successful outcomes from their R&D investment and patents, individual firms need strategies for technological innovation that relate to their technological level.

• Journal of the Korean housing association
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• v.16 no.6
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• pp.29-38
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• 2005

Housing consumers prefer high-rise mixed-use apartments because of one-stop living style, and high quality of life. This study investigated the residents community with the residents who lived in the apartments and the future residents who will live in the apartments to investigate the usage of the public spaces and the influence of the space to form housing culture of residents family community. All data were taken from the response of two hundred forty three questionnaire to be gathered during 20th of June through 24th of August in 2003. Data were analyzed with percentages, means, t-test, and variance analysis using SPSS/PC+. Residents in four high-rise mixed-use apartments feels that the public space in the apartments were mainly provided by their convenience of the construction companies not for the residents. Physical conditions of public space in high-rise mixed-use apartments should be environmentally friendly housing space in which nature and human can be coexisted. It also should be high-tech system housing with which SOHO can be operated. And different custom-made spaces which the residents' needs can be satisfying should be provided. The public space should be recommended to be multi-purposed room because the space will be differentiated with the circumstances of the area, the residents' age differences, and the variety of the family's life style. Moreover, the various programs should be supplied to run the public space efficiently.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.5
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• pp.749-759
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• 2021

We investigate the relationship between ownership control disparity and future firm value in high-technology industries, and whether the effect of ownership control disparity on future firm value is differentiated when high-tech industry firms belong to chaebol groups. Using 11,848 firm-year observations of Korean firms listed on the stock market from 2006 to 2019, we employ univariate analysis and Heckman 2 stage analysis to test our hypotheses. We define high-technology industries as ICT industries based on the Korean Standard Industrial Classification. We measure future firm value using average Tobin's q for the next three years and ownership control disparity using the shareholding ratio of affiliated companies. Our univariate test results show that mean of Tobin's q is higher in ICT firms than non-ICT firms and firms largely owned by affiliates. In multivariate test, we find that the ICT firms with higher ownership control disparity are positively associated with future firm value. However, this association is lessened when firms belong to a chaebol group. Based on our findings, we suggest ownership control disparity has an additional positive effect on future firm in high-technology industries. The negative impact of chaebol groups on the association suggests the possibility of diversification discount in business group.

• Plant Journal
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• v.6 no.1
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• pp.56-63
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• 2010

While the local plant market is reducing its volume, the plant market over the world since 2000s is rapidly expanding. The nation's construction companies, aggressively dedicated in launching out overseas plant market, increase the volume of orders in that sector, but there also are much difficulty in the project management as those projects ordered are gradually large scaled with more cutting-edge high-tech requirements along with comparatively higher risk. Though the local construction companies have developed their own types of measures to analyze the risk evaluation putting into practice, the specialized decision-making model for the overseas plant market or the risk measure understandable easily and applicable practically is not yet shown. This paper aims at providing the methodology to evaluate the risk by way of constructing the risk evaluation process in order to induce risk measuring elements through appropriate indexing system. Furthermore, through studying the risk management system, it aims to seek for a thorough risk management method from beginning of the project to the end.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.4 no.1
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• pp.1-27
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• 2009

The bio-technology industry is a technology-intensive high value added area where R&D and securing core technology are important. Many countries across the world are nationally supporting and nurturing this industry as a next generation growth engine. This study aims to introduce development plan for the bio-tech industry in Korea through analyzing factors for the development of bio-tech industry by using Analytic Hierarchy Process (AHP) and to set the priorities among such factors. The analysis shows that key element for the development of bio-tech industry is technological capacity in the present and in the year of 2015. It also shows that it is essential to have government support and investment in strengthening R&D and cooperative system of industry, academia and research institute for the development of basic original technology. In addition, it suggested 5 plans for the development of bio-tech industry in Korea including securing new technologies in bio-tech industry, improving efficiency of R&D management system, protecting and culturing traditional bio-tech industry, creating emerging markets and efficiently providing support to nurture bio-venture companies.

• Management & Information Systems Review
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• v.36 no.4
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• pp.117-127
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• 2017

In recent times the size of the world IPO in general has skyrocketed. Specifically, China's financial market development is becoming important as both the size of China's capital market and the number of companies going public are gradually increasing. This has led to a rapid development of venture vapital(VC) institutions in China for the past couple of decades. This study focuses on one of the three markets of China's Shenzhen Stock Exchange-the Growth Enterprise Board((GEB) hereafter, ChiNext). The ChiNext is established in October, 2009 to enable hi-tech or high growth potential technology companies that find it relatively difficult to fulfil the listing requirements of either the Shenzhen Main Board or Small and Medium Size Enterprise Board(SMEB) to go public. This study covers a three-year period(2012/01/-2015/01) and analyze first day initial return of 83 venture capital-backed companies and 53 non-venture capital-backed companies using T-test. Regression analysis is used as to examine the variables affecting IPO's first-day return. The empirical results are four-fold. First, the level of first day return of venture-backed is significantly lower than non venture capital backed support in the Chinese venture capital market. Second, the level of first-day return of listed companies supported by foreign venture capital is significantly higher than that of companies receiving domestic venture capital support. Third, the firms that have a large number of venture capital firms showed a low level of first-day return. Fourth, regression result for the IPO first-day return which is as dependent variable indicates that the venture capital support(VCAP), number of venture capital(VCNum), offering size(Lnsize) and PER all affect have negative effect on the first day initial return. Also, the venture capital type(VCType), turnover ratio and the the firm type(Tech-firms) statistically affect IPO first day return positively. Finally, by shedding more light on the IPO first-day return, this paper provides meaningful information to investors about the Chinese IPO market.

• Korean Management Science Review
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• v.28 no.2
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• pp.75-92
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• 2011

This study investigates how cognitive and affective conflict affect performance and social outcomes in the new product situation. We examine the corporate, project, and personal characteristics that determine the level of inter-functional conflict between marketing and R&D. From a survey of Korean high-tech companies, we found : (1) time pressure was positively related to cognitive and affective conflict, (2) joint reward systems, interdepartmental connectedness, and years of education were negatively associated to cognitive conflict, (3) while cognitive conflict was positively related to new product creativity and NPD performance, affective conflict was negatively associated to marketing-R&D integration and perceived effectiveness of the relationship, as well as new product creativity and NPD performance.

• Journal of Korean Society for Quality Management
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• v.40 no.1
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• pp.39-48
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• 2012

An early detection system for warranty issues periodically collects customers' claim data and automatically reports alarms about emerging issues based on statistical algorithms. It helps companies to reduce an issue definition time and save the handling cost of warranty claims. This paper provides an evaluation framework to validate the economic effect of an early detection system project. For this purpose, we present economical index of a project with explicit formulas such as ROI(return on investment), PP(payback period), NPV(net present value), PI(profitability index) and IRR(internal rate of return) and analyze the sensitivities of the index according to the variation of project input parameters. The proposed analysis framework is expected to be used for evaluating economic values of various system integration projects.

• Korean Security Journal
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• no.5
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• pp.89-108
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• 2002

The prospect of security services industries is as followings. First, integrated security system will be increased in the security service sphere of collective housing such as apartments. Second, the needs to security services with high-tech electronic security system and systematic security service against crimes will be increased. Third, the needs to crime prevention and disaster prevention service including information security service by means of internet and information and communication technology will be increased. Fourth, perhaps domestic market of security service will be reshaped in relation with localization trend and entrance of foreign security service companies to our country. With these conclusions I think that the departments of universities related to security services will focus on their social roles.

• Asian Journal of Innovation and Policy
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• v.1 no.1
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• pp.116-132
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• 2012

This paper deals with university - industry collaboration movement in China in recent years. By summarizing related development background in Government-Industry-University framework, the paper specifies Chinese pattern through analysis of technology transfer between universities and industries, collaborative R&D between universities and industries in practical fields, and university-run high-tech companies, especially through analysis of joint patenting between universities and their industrial partners in China. The research provides clear picture of Chinese universities' increased development with industrial entities in comprehensive and wider technology fields.