• Journal of Technology Innovation
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• v.16 no.1
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• pp.191-213
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• 2008

This study investigates the effect of technology import and R&D investment on the value of the firm in Korea. The result shows that the technology import announcement effect of firms with a low R&D investment is higher than that of firms with a high R&D investment. The evidence suggests that technology import can substitute the existing R&D capability of the firm. In addition, the result shows that there is an optimal level of technology import and R&D investment to maximize the value of the firm. In particular, firms with a low R&D investment and a large amount of technology import experience the highest announcement effect. The study concludes that an adequate allocation of fim's capital between R&D investment and technology import is needed for firm's optimal technology strategy.

• Asia pacific journal of information systems
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• v.16 no.2
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• pp.111-122
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• 2006

This paper investigated the causal relationship between IT investment and economic performance with the office, computing and accounting machinery (OCAM) and gross domestic product (GDP) statistics from the United States for the period 1961 to 2001. Due to non-stationary aspects of the series, found by unit root tests, it was deemed applicable to apply growth models using the first difference of the series. The results indicate that IT investment growth at the country level do not only cause economic performance growth, but are also caused by economic performance growth. While IT investment growth affect economic performance growth over shorter time periods, economic performance growth affect IT investment growth over longer time periods. As a result, this study reveals IT investment growth have the preceding effect on economic performance growth, and then economic performance growth impact subsequently on IT investment growth.

• Journal of Distribution Science
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• v.13 no.8
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• pp.41-48
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• 2015

Purpose - This study's objective is to confirm the effects of the perceived relationship value, alternative attractiveness, and investment size on Korean food service franchisees' commitment, using an investment model. Among the three factors, the study examines which factors enhance or weaken the commitment in the franchising investment model. Research design, data, methodology - The data were collected from 495 franchisees and analyzed by a SEM (Structure Equation Model) using path analysis by SPSS 18.0 and AMOS 18.0. Results - 1) The perceived relationship value has a positive effect on franchisee commitment. 2) The alternative attractiveness has a negative effect on franchisee commitment. 3) The investment size has a positive effect on franchisee commitment. Conclusions - The findings show that the investment model can be adapted to franchising and confirms previous investment model study results. We can assume that the higher the perceived relationship value and the bigger the investment, the stronger the commitment, and the greater the alternative attractiveness, the weaker the commitment. These results offer managerial implications for a franchisor wanting to strengthen franchisee commitment.

• Korea Trade Review
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• v.44 no.1
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• pp.45-56
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• 2019

The purpose of this study is to investigate the relationship between foreign investment and carbon emissions in the Korean electricity sector, the causal relationship between the foreign investment invested in the electric power sector in the 16 regional regions and the carbon emissions in the region, The purpose of this study is to analyze the effects of foreign investment on these sectors and the carbon footprint of these sectors using Panel Random Effect Analysis, Panel VAR and OLS models. A panel analysis of foreign investment and regional carbon emissions showed that there was a causal relationship. Based on this analysis, OLS analysis showed that 7 out of 16 metropolitan areas were foreign investment And carbon emissions were significant. In the remaining six regions except Gwangju, there was a causal relationship between foreign investment in the local power sector and the reduction of carbon emissions. After categorizing the electric power industry by device, process, purpose and number of employees, causality also appeared in relation to foreign investment in these sectors and their carbon emissions. Through this study, the authors suggest that foreign investment can be a way to solve not only the financial burden of carbon emission problem, but also the development of national economy and industry through the inflow of capital and advanced new technology.

• Journal of the Korean Operations Research and Management Science Society
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• v.40 no.4
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• pp.19-33
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• 2015

Recently, interest in research and development (R&D) investment decisions have increased among Korean domestic enterprises. However, existing R&D investment studies only focused on government R&D investment policies while only a few studies investigated firm level R&D investment. Prior literatures also overlooked the feedback loop between R&D investment and firm performance. Therefore, this paper identifies a system dynamics model for R&D investment decision making in domestic electronics firms. The conceptual model is derived from R&D investment-related theories found in bodies of literature on company performance, enterprise activity, and market maturity. This study investigates the dynamic feedback between R&D activities and sales using the system dynamics model. In other words, the system dynamics model is used to explain the change in the closed feedback circulation structure in R&D investment activities including technology development, production process, and marketing that subsequently result in sales increase and re-investment into R&D from the generated revenues. There are two major results. First, a similar ratio of investment on technology development and production process derives the higher company sales. Second, regardless of market maturity, marketing investment ratio positively affects sales and R&D budget growth. This study provides a system dynamics model to find the optimal ratio for R&D investment and suggests managerial strategic implications on electronic firm R&D investment decision making under market maturity condition.

• Korea Trade Review
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• v.45 no.6
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• pp.1-22
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• 2020

This paper analyzes the influence of entrepreneurial orientation, international market orientation, and investment performance of Korean SMEs in Vietnam on sequential investment. As a result of analyzing the research model using PLS SEM, it was found that Korean SMEs make sequential investments based on investment performance rather than entrepreneurial orientation or international market orientation. In addition, entrepreneurial orientation increased internationa market orientation and had a positive effect on investment performance, which was found to have a positive effect on sequential investment. Through this study, it was clarified that there is a difference between the determinants of initial investment and sequential investment, and it was confirmed that Korean companies show stable and strategic sequential investment tendency rather than proactive and bold investment in Vietnam. In addition, the mediating effect of international market orientation and investment performance in sequential investment was confirmed. In addition, it was confirmed that entrepreneurial orientation was a valid factor in the indirect effect of sequential investment. In the future, for high entrepreneurial orientation Korean companies entered the Vietnamese market, there will be a need for policy support to provide information on Global Value Chain in Vietnam and establish networks on the country.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.6
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• pp.19-27
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• 2020

This research investigates the determinants of investment capital size in Vietnam's small and medium-sized firms. The study employs a sample of 458 small and medium-sized enterprises in the country. The study is based on data collects in the areas of Hanoi, Bac Can, Buon Ma Thuot and Pleiku Provinces at time series data of October 2019. This study also identifies the factors that affect the size of investment capital in medium and small-sized enterprises in Vietnam. Data are processed via STATA 14.0 and SPSS 20.0 software. The research results indicate that (1) business lines, (2) import and export business, (3) type of business registration, (4) business location, (5) operating time, and (6) the percentage of the organization's capital contribution are factors that impact on the size of the investment capital of the business. Business line and business location have negative impacts on investment capital size. The operating time, the percentage of the organization's capital contribution, import and export business, and the type of business registration have positive impacts on investment capital size. In addition, the findings of this study also suggest that the operation time has the highest impact on investment capital size of the small and medium-sized firms in Vietnam.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.4
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• pp.121-131
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• 2020

This study aims to investigate the interplay between education and local roads on Foreign Direct Investment (FDI) in the Philippines, using economic growth as an instrument. The study used the quantitative research design applying both descriptive and inferential statistics. A combination of Two Stage Least Square Regression Model and three approaches in Panel Regression Model such as Pooled Least Square, Fixed Effect Model, and Random Effect Model were utilized in order to study the effects of education and local roads on foreign direct investment of the Philippines. Based on Fixed Effect regression results, higher education graduates and local road investments, as conditioned by economic growth, were significant factors in order to increase the foreign direct investment in the Philippines. Accordingly, a unit increase in higher education graduates, as conditioned by economic growth, leads to 8.758 unit increases in the foreign direct investment. While, a unit increased in local road investments, as conditioned by economic growth, leads to a 0.002 decrease in foreign direct investment. The regression results of the study suggest that the Foreign Direct Investment in the regions such as CAR, I, II, IV-B, V, VIII, IX, X, XI, XII, XIII, and ARMM are higher compared to Region IV-A.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.10
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• pp.361-371
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• 2021

This research aims to analyze the effects of managerial overconfidence and corporate governance on investment decisions. Besides, it also tries to discover the effect of internal financing mediation between managerial overconfidence and corporate governance on investment decisions. This study employed panel data from 44 manufacturing companies from 2014 to 2019, out of a total of 117, thus the total observations are 264. The hypothesis was verified through structural equation modeling (Smart PLS 2). The study revealed as follows: 1) Managerial overconfidence has a positive and significant effect on internal financing, while corporate governance has a negative and significant effect on internal financing, 2) managerial overconfidence, internal financing, and corporate governance have a positive and significant effect on investment decisions, 3) internal financing partially mediated the effect of managerial overconfidence on investment decisions, However, internal financing does not mediate the effect of corporate governance on investment decisions. The findings in this study will help company managers implement good corporate governance to improve investment efficiency. In addition, managers can reduce the proportion of retained earnings and increase the proportion of dividend payout ratios, and increase the use of external sources of funds in making investments to minimize agency costs and manager's opportunistic behavior.

• Journal of Korea Society of Digital Industry and Information Management
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• v.20 no.2
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• pp.141-157
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• 2024

This study examines the impact of cryptocurrency value characteristics on cryptocurrency investment intention. Stock craze and information provided through various media, including YouTube, play an essential role in helping investors recognize the value of cryptocurrency and develop positive investment intentions. In this study, we applied the Value-Based Adoption Model (VAM) to verify the relationship between cryptocurrency value characteristics and investment intention. We surveyed 500 cryptocurrency investors to assess network externalities, awareness, compatibility, cost benefits (fees), technicality, security, perceived value, and investment intentions. SEM (Structural Equation Modeling) using AMOS 26.0 was used for data analysis. Results show that network externalities, awareness, compatibility, cost benefits (fees), security, and perceived value significantly impact investment intention. This study provides insights that help investors accurately perceive cryptocurrencies and develop strategies to increase investment intentions. It also contributes to improving investors' decision-making ability. This comprehensive approach will foster the growth of the cryptocurrency market and strengthen investor confidence.