• Korean small business review
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• v.41 no.1
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• pp.75-96
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• 2019

This study used age, education, major, working period as CEO's characteristics and examine relationship between these characteristics and R&D Investment. Furthermore this study examined how CEO should react in terms of R&D investment, which is effected by CEO's characteristic in the market. The empirical results are following. (1) When CEO's age are young, they spend much money for R&D investment. And R&D investment which is determined by young CEO has a positive effect on relation of firm value. (2) A higher educational background has a positive effect on R&D investment and will create higher firm value. (3) When CEO's major is competitive in the same industry, it has a positive relationship with R&D investment and its firm value is bigger than though. (4) When CEO working period is long, they showed active to R&D investment. On the other hand, the firm value decreased. This study focused on analyzing the relationship between characteristics of CEO and R&D Investment, furthermore, how R&D investment which effected by CEO's characteristic is contributing in creating the firm value. This results indicate that CEO's characteristics reflect R&D investment and value of venture business. Therefore, CEO's characteristics should be considered financial information and firm value in the market.

• Journal of the Korea Institute of Information and Communication Engineering
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• v.23 no.12
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• pp.1558-1564
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• 2019

Corporate business clusters create a borderless business network through value chains and value creation activities. Clusters in the IT sector are crossing regional boundaries because of their rapid technological development and short product life cycle. To investigate this phenomenon, we examined the value activities of IT companies. As a result, the global expansion of the case companies was limited, but they had business clusters that exceeded the regional boundaries. However, because the order of business clusters is not advanced, value activities are focused on productivity rather than innovation. Given the rapidly evolving nature of IT, it is necessary to evolve into a business cluster that can create new value. Companies must design and implement value-creating processes to develop new technologies or enter new markets, which can lead to cluster growth. Companies must design and implement value-creating processes to develop new technologies or enter new markets, which can lead to cluster growth.

• Korean journal of communication and information
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• v.38
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• pp.7-39
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• 2007

The purpose of this study is to find trend & paradigm of national image ; to review process to be global corporate ; to evaluate brand value of SAMSUNG. Researcher made a study with SWOT analysis and depth survey interview about Interaction and influence between national image and global corporate. The result reveal five type that divided '1 ; Nation-Leading Type(n=10)', '2 ; International Superiority Type(n=6)', '3 ; Typical Influence Type(n=4)'. It found that is very different type. In conclusion, it was ascertained a proposition about 'growth of global corporate is in accord with development of brand value in Korea' through this study. Above all, in this article, the result of this works was provide a momentum ; it is the diverse effects to the global corporate inside and outside of the country.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.21 no.1
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• pp.417-425
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• 2020

In this paper, value relevance of the level of dependence on separate accounts in non-life-insurance companies is studied. As noted by Shim et al. (2015), the separate accounts of insurance companies consist of contracts with different attributes from the general accounts, so it is likely that firm value will vary depending on the insurer's dependence on the separate accounts. Thus, in this paper, an empirical analysis has been conducted using quarterly financial data and stock price data from domestic listed non-life-insurance companies from 2011 to 2018. The analysis shows that variables representing the level of dependence on separate accounts have a significant negative relevance to firm value. These results may suggest that changes in the proportion of a non-life-insurer's separate accounts may result in a change to its firm value under the same net assets and net income scales in aggregate accounts. This study provides management implications for the operation of separate accounts from the perspective of maximizing firm value. In addition, this study suggests that disclosure system improvement would be necessary to more directly report the operational performance of the separate accounts.

• Korean Business Review
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• v.20 no.2
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• pp.61-85
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• 2007

Competitiveness of a firm essentially depends on the value of the product or service the firm supply. Product or service of high value derives customer purchase activity. Service mix is the process which creates competitiveness by value creation for customers through optimal combination of physical characteristics of product and service. This research is to contribute competitiveness increase of Korean manufacture industry by study of the effect of service mix as to the business competitiveness. Usually competitiveness advantage approach relies on the industry structure competition theory and the resource-based approach. However, it is said that, while the industry structure competition theory helps finding attractive industry, it rarely helps finding which companies succeed or fail in the specific industry. The resource-based viewpoint approach is limited in that this cannot provide any theory or systematic frame for the analysis even though it has contributed a lot to the competitiveness increase. Power process approach is applied to this study in order to overcome this limit and to Increase the business competitiveness. Power process is the process to create the value, the source of power by interaction of power elements, value, needs, environment and relation, the five power determination elements. Power process is a process that creates value to satisfy the power objective for the attainment of the goals of the power subject. This study is to contribute for the manufacture industry by establishing service mix strategy from the power process viewpoint.

• The Journal of the Korea Contents Association
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• v.20 no.12
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• pp.136-144
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• 2020

Previous studies report that labor investment inefficiency occurs as the information asymmetry becomes severe and the agency problem between managers and external investors increases. Therefore, it is highly likely that managers will make opportunistic decisions that can damage corporate value in companies with high labor investment inefficiency. This study examines whether the value relevance of accounting information decreases as labor investment inefficiency increases as it is less likely that investors in the market use the accounting information of companies in which labor investment decisions are made inefficiently. Labor investment efficiency is measured as the difference between the actual level of labor investment and the expected level of optimal labor investment. Larger difference between the actual level of labor investment and the expected level of optimal labor investment is considered as higher inefficiency in labor investment. Using data of firms listed on the Korea Stock Exchange from 2002 to 2018, empirical results show that the value relevance of earnings decreases as the inefficiency of labor investment increases. This research provides empirical evidence on whether investment inefficiency in labor, which is an important factor in the competitiveness of a company, reduces the information usefulness of reported earnings.

• 한국IT서비스학회:학술대회논문집
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• 2007.11a
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• pp.587-594
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• 2007

컨설팅 조직이나 개인은 그들의 전문성을 바탕으로 사업을 영위하고 발전시켜 나가야 하는 영리적 목적을 띄고 있다. 따라서, 그들이 제공하는 컨설팅은 전문서비스로서의 상품적 가치가 있어야 하며, 고객은 이들이 제공하는 컨설팅에 대한 대가를 지불하여야 한다. 전문적 서비스라는 측면에서 컨설팅의 가치란 기업이 기대하는 이익이나 혜택, 서비스 품질과 그 서비스를 얻기 위해 지불하는 희생(비용과 시간)간의 상쇄효과로 설명할 수 있다. 본 연구에서는 이러한 가치에 영향을 미치는 요인으로 SERVPERF 모형을 이용하여 측정한 품질과 기업의 일장에서 바라는 편익으로 나누어 컨설팅 서비스에 대한 고객의 가치인식에 미치는 영향을 실증하고자 한다. 다음으로, 컨설턴트는 프로젝트가 끝나는 시점에서 컨설턴트-고객의 관계가 지속적이며, 긍정적, 상호 협력적이라는 확신을 심어 주어야 한다. 고객의 일장에서는 관계의 종결보다는 관계의 지속이 이성적이거나 감성적으로 편익이 높을 것이라는 확신이 서야 차며 이는 곧 컨설턴트-고객 간의 계산적/정서적 결속으로 나타날 수 있다. 따라서, 본 연구의 최종적인 목적은 컨설팅 서비스의 품질과 편익 - 서비스 가치 - 고객과의 결속 - 재사용의도로 이어지는 인과관계를 규명하는데 있다.

• Journal of the Korea Society of Computer and Information
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• v.12 no.1 s.45
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• pp.219-229
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• 2007

The results of the research in M&A firms in the KOSDAQ market are as follows. First, the effect of the M&A disclosure at the time of disclosure was that the positive (+) cumulative abnormal return (CAR) can be interpreted as an increase in the value of the firm; however, in the long run, firms which used the KOSDAQ index and the control firm, which did not use the index were found to have conflicting results. Second, the findings show that the rise in value of general firms resulting from a M&A were higher that those of venture firms. Third, in testing the performance extrapolation hypothesis, it was shown that the performance of "value" firms (firms with a high B/M ratio but poor performance in the past) was better after a M&A than those of the "glamour" firms and that the performance extrapolation hypothesis was substantiated. Fourth, it can be construed that a size effect in a merger exists. The CAR of the small firms surpasses those of large firms. Fifth, in verifying operating performance, most variables showed a positive (+) value at the time of M&A but showed a negative (-) value after a M&A. These results show that because on the Korean KOSDAQ market, M&A are approached from a financial rather than an economic aspect, it can be inferred that it lowers the firms value.

• Management & Information Systems Review
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• v.36 no.1
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• pp.233-249
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• 2017

This study investigates the relation of managerial ability and firm performance in case of Chaebol in Korea. We employ non-financing firms at Korean markets for the period 2000-2015. Most important decision is made by the head of Chaebol which increases firm value eventually and he has such a strong dominant power that managers belongs to Chaebol have to follow mother firm's decision directions. So it is expected that managers belongs to Chaebol have to focus on long term performance rather than short term profits, which means they concentrate their managerial ability much on the firm value. Otherwise, managers in which non-Chaebol focus their ability on periodic accounting earnings. Thus, this study examines an empirical analysis on the relation of managerial ability and firm performance and the effect of Chaebol on the relation of managerial ability and firm performance. Empirical results are as follows: First, there exists a statistically significant positive relation between managerial ability and firm performance either short- or long-term. Second, we extend this relationship into Chaebol condition and find that managerial ability of Chaebol positively influences on the firm value which is long-term performance, rather than return on assets which is short-term performance. These results imply that managers belongs to Chaebol much concentrate their ability on long-term value which is differenciated from the case of non-Chaebol samples. Chaebol is an important issue in Korea because it dominates most of Korean local economy so its' impact from small changes on our economy is big enough. Our study examining the relationships between managerial ability of Chaebol and firm performance is meaningful and it is a good signal that they concentrate their ability much on the long-term value rather than short-term profits. We expect that the results of this study will provide the academic and practical references. This study will contribute to the future research in accounting through an analysis of managerial ability which is a new measure, Chaebol, and firm value.

• Journal of Digital Convergence
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• v.11 no.5
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• pp.267-277
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• 2013

An training activity within organization is main factor for creating a competitive advantage in knowledge-based economic system. Therefore the purpose of this study is to examine the relationship between training activity in organization and business performance and corporate value. Also it was analysed whether the effect of training was different between large company and small company. The major results of analysing the effect of training on organization performance are as follows. First, training activity was positively related to Tobin's Q each year. As for net income per person the effect on training was significant in 2009 and 2010 except 2008. The sales per person was significantly related in 2008 and 2009. Second, as the result of analysis of training investment on organization performance, as for large company the effect of training on business performance and corporate value was mostly significant excluding 2008' net income per person and 2010' sales per person. While as for small company all effects were not related.