• International Commerce and Information Review
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• v.11 no.1
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• pp.485-515
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• 2009

In this study aims to research and analyze what are decision factors between a wholly-owned subsidiary and a international company cooperation in the internationalization process. From 57 primary studies found 26 observed variables for aggregation of effect size in the using "Fixed Effect Model" on this mata-analysis. The article also links the theories that are used in the literature, not considered in the most of primary studies, to the empirical results and recommends global management strategy which is needed for business practical affairs. According to the result, the meta-analysis suggests that the number of employees of a MNC, the geological and cultural differneces between the host country and home country, the country-specific international experience of the MNC and export intensity, the international product diversification, the market growth and the market size of the foreign operations, and resource intensity of the foreign operations, the legal restrictions in the host country and the country risk of the home country do exert a significant effect on the decision between cooperative arrangement and a wholly-owned subsidiary. Conversely, for a large number of variables, no significant relationship seems to exist based on the combined results. This is the case, for example, for factor specificity, the r&d-intensity, the subsidiary size, the assets of the MNC and the sales volume of the MNC.

• Korea Trade Review
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• v.44 no.4
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• pp.153-168
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• 2019

The logistics industry is changing with the diversification of demand and related technology development. Thus, the transportation system is also changing to social problems and environmental damage, and the importance of rail freight is increasing with changes in the international logistics environment. This study analyzes railway freight competition structure using freight volume and suggests improving the competitiveness of railroad freight. To achieve the research purpose, this study was conducted using the Hirshmann-Herfindahl Index(HHI) and Location Quotients(LQ) method. As a result, the concentration trend of railway trends has increased from 0.213 to 0.238 during the last 9 years, and LQ analysis has enabled the identification of local competition lines by item. The study result confirmed that policy measures on railway freight system, railway infrastructure construction and railway operation are necessary to enhance railway competitiveness.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.78
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• pp.31-51
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• 2018

As International arbitration has increased in popularity, there has been an expansion in the pool of arbitrators, and a commensurate diversification of not only the legal backgrounds but cultural backgrounds among themand among parties. As a result, there has been increased attention on the standards used to evaluate arbitrators' conduct and ethics, especially among them, 'Impartiality and Independence of Arbitrator' which is a precondition for an acceptable awards. There is no international treaty or code governing these issues. But the International Bar Association(IBA) seems to be leading the way such as establishing practical guidelines regarding to impartiality and independence of arbitrator. This article will review some theories, cases about impartiality and independence of arbitrator, and practical standards through the IBA guidelines. It is intended to provide specific guidance and criteria to the arbitrators, parties and counsels. And also it is expected to prevent unnecessary delays in arbitration proceedings in advance and filing for the annulment of arbitral awards because of lack of impartiality and independence of arbitrator as well.

• Management & Information Systems Review
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• v.29 no.4
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• pp.207-223
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• 2010

One of the important prudential regulations is the capital regulation. The current domestic and international capital regulation sets the minimum capital requirement according to the size of risk which is the simple sum of market risk and credit risk. However the portfolio theory suggests that, due to the effect of diversification, the total risk is less than the summation of market and credit risk. This paper investigates and does empirical test to verify the diversification effect in measuring financial firm's integrated risk. We verify the diversification effect between the market risk and credit risk. This paper's contribution is to present the empirical evidence that, considering the relationship between market and credit risk, the integrated risk is less than sum of them. This implication is that the surplus capital may be used for the other purposes, therefore enhancing capital allocation efficiency in view of society as a whole.

• Journal of the Korea Safety Management & Science
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• v.12 no.1
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• pp.189-198
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• 2010

This study is aimed at proposing the framework of international cooperation business in HRD KOREA. To achieve this goal I collected all of data that were used in process of international cooperation business in HRD KOREA and interviewed some people to get information from the people concerned. After that I analyzed data involved in using SWOT technique and proposed the framework of international cooperation business in HRD KOREA. The conclusions are as these. First, alliances must be vitalized between businesses besides between organizations. For example 'Developing of voluntary comeback program for foreigner' and 'Establishment of HRD KOREA Center' can be proposed as action plans for this strategy. Second, glocalization must be pushed ahead. For example 'Business career monitoring system for PMC' can be proposed as action plan. Third, building of preemptive base must be done. For example 'Standing of international HRD forum' can be proposed as action plan. Fourth, reinforcement of organizational competency must be done. For example 'The program for internationalization' can be proposed as action plan. Fifth, SBU(Strategic Business Unit) must be pushed ahead. For example 'Customer diversification portfolio' can be proposed as action plan.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.5
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• pp.515-521
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• 2021

The popularity of Islamic financial instruments among Muslims is not surprising. The Islamic capital market is where sharia-compliant financial assets are transacted. It works parallel to the conventional market and helps investors find sharia-compliant investment opportunities. At a time of collective confusion when the COVID-19 epidemic is contributing to unprecedented change, this paper is keen to understand how attractive conventional and Islamic stock markets have been to investors recently. Second, this paper takes advantage of the time-scale decomposition property of the wavelet to simultaneously capture risk exposure and distinguish the risks faced by short- and long-term investors. To this end, this research conducted a two-step investigation of the daily closing equity market price indices for three Islamic stock markets and their conventional counterparts. Given that different financial decisions occur with greater or less frequency, the paper examines the connectedness of stock markets operating at heterogeneous rates and identifies the timescales using wavelet-DCC-GARCH analysis to take account of both the time and the frequency domains of stock market connectedness. The paper findings highlight the strong evidence of contagion that can be seen in nearly all conventional stock markets in the COVID-19 pandemic; they reach a high level of dependency in such health crises. Furthermore, Islamic stock markets prove to be a rich ground for global diversification.

• Journal of the Korean Geographical Society
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• v.31 no.1
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• pp.68-87
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• 1996

This paper investigates spatio-temporal changes in the international system of linkages among multinational corporate domestic decision-making centers and their overseas subsidiary centers for the period 1974-1991. During this period advances in information technologies and an ever increasing interdependent world economy have permitted the globalization of resource transfers, production techniques, service provision and financial transactions. Based on a network theory of internationalization, the study idenifies the dispersion of multinational control centers and the diversification of their linkage patterns. These tendencies are led by small and medium sized quaternary places as well as the rapid growth of service industries. Corporate headquarters cease to be tied together to big corporate and governmental centers but will disperse over time at global, national and regional level. Using information statistics, this paper confirms the dispersion patterns of capital flows and diversification of multinational control linkages. With an increasing trend toward a multicentric world system and the associated diecline of the global hegemony of a small number of largest cities, multinational control linkages should continue to disperse.

• 한국디지털정책학회:학술대회논문집
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• 2005.11a
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• pp.323-335
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• 2005

Globalization of economy brings both opportunities and threats especially for companies in developing countries such as Korea. Globalization is an opportunity because it may expand the size of market for the company where globalization brings a threat for developing global competitiveness. If the company has already built competitive advantage in its business domain, the company can easily transfer market growth to profit improvement. However, if the company has not developed competitive advantage, globalization of economy will give a serious threat for the survivor of the company. The company might lose its own domestic market share. For the less famous brand of product or company name, international expansion is a challenging strategy. The study evaluated organizational performance of companies that try international expansion by utilizing Miles and Snow's strategy typology. We clustered organizations based on their strategy typology (prospector, analyzer, defender, and reactor) in view of the level of product diversification, new product development instances, level of localization, and autonomy of foreign subsidiary. With the strategy typology, we evaluated international strategy in view of product competitiveness, marketing strategy, human resource strategy, and organizational strategy. The regression result demonstrates that the performance of the company is significantly higher when the company employs prospector strategy. We also found out that product quality and emphasis for developed countries in international expansion are the most important factors for success.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.44 no.2
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• pp.124-131
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• 2021

In the recent business environment, risks related to product safety problems are increasing. These are arising from various factors such as increasing product and production complexity, supply chain diversification, enhanced PL (product liability) law and strengthening regulations of the government. Accordingly, ISO (international organization for standardization) published standards of PSMS (product safety management system) for suppliers such as ISO 10377 and ISO 10393. Meanwhile, the ISO 9001 QMS (quality management system) was revised in 2015, and it has established itself as an effective tool that can consistently meet the various requirements of stakeholders and promote customer satisfaction. This study aims to suggest an integration framework of QMS and PSMS based on the recent ISO international standards. To this end, firstly, the relationship between QMS and PSMS is studied based on the quality and product safety definitions, PDCA (plan-do-check-act) cycle and risk-based thinking. Secondly, the requirements of ISO 10377 and ISO 9001 are compared and classified as the common and ISO 10377 specific requirements. Finally, integration steps of two systems are suggested and guidelines that can systemize the integrated requirements are presented in the aspect of processes and documentation. This study is expected to be used as a guideline that helps companies those have already acquired QMS certification to build an international-level product safety management system early.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.24
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• pp.107-125
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• 2004

This study is based on the survey data of 74 Korean multinational corporations, which undertook foreign direct investments from 1980 to 1996. The study examined the firm-specific as well as the host country-specific factors affecting the decision between shared and full ownership. According to the results of this study, as for the firm-specific factors, Korean firms entering foreign markets in order to penetrate local markets prefer shared ownership while those pursuing core business diversification prefer full ownership. As for the host country factors, the more advanced the host country(such as OECD countries) is, the more preference is given to full ownership.