• 기술혁신연구
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• 제7권1호
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• pp.36-59
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• 1999

Fundamental advances in the biotechnologies are exerting a profound influence on the health care, agricultural, industrial chemical, environmental, and other industrial fields. Korean government are now more and more realizing the importance of biotechnology as a main technology for the 21st century. But any technical progress is largely the result of a complex set of relationships among the firms, institutions and others involved in development. So understanding the complexity is very important to make promoting strategies and it is even critical in the field of biotechnology. The reason is that commercialization of research results in biotechnology is strongly related with the national science bases provided by academic and public institutes. And its applicable industrial sectors are very diverse. So it is very important to make a effective collaboration system among many R&D related agents. This article discusses and compares both USA and Japanese framework of national innovation systems in the field of biotechnology. The American Innovation system encourages basic research in the biological sciences, and fosters the creation of small venture firms that focus on the development of novel products. America's peculiar incentive structure, derived from its research and educational system, financial system, and regulatory environment has driven USA labs and firms to the forefront of many biotechnology fields. The Japanese institutional environment in contrast, supported the strategy of building production expertise. Firms were urged to use the new techniques as a way of leapfrogging into a second generation of bio-products, in that cost and production advantages count. But the strategy was not effective as expected and Japanese firms have remained competent but not prominent rivals. The differing situations in USA and Japan with regard to biotechnology have many suggestions for our bioindustry. In the conclusion of this article, we translate USA and Japan's experiences to some suggestions which guide for promoting Korea's biotechnology R&D and commercialization activities.

• The Journal of Asian Finance, Economics and Business
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• 제7권1호
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• pp.9-17
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• 2020

This study examines the effect of financial reporting opacity and audit quality on stock price crash risk using listed firms in Japan. This study is the first research to examine the effect of financial reporting opacity on crash risk using a Japanese listed company. Furthermore, the effect of audit quality on crash risk is verified. High level auditors can mitigate crash risk by playing a role as a corporate governance device mechanism to reduce agency costs. We use a logistic regression and linear regression model to test whether financial reporting opacity and audit quality affect crash risk using listed firms in the Japanese stock exchange market during the fiscal years 2015 January through 2017 February. The results of this study suggest that the financial reporting opacity variable shows a positive relationship with CRASH, which states that a firm with more opaque financial reporting increases crash risk. The results suggest also that the firms audited by Big4 auditors experience less crash risk, implying that the audit quality in Japan can be one of the factors mitigating firm's crash risk. This study provides implications for financial reporting and audit quality to external stakeholders who wants to avoid losses.

• 한국산업정보학회논문지
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• 제4권4호
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• pp.130-136
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• 1999

본 논문은 글로벌소싱이 빈번하게 이루어지고 있는 유럽과 일본에 기반을 둔 다국적기업들의 미국내 자회사를 대상으로 글로벌소싱의 목적 및 유사성과 차이점에 대해 조사하는데 목적이 있다. 특히 본 연구는 글로벌소싱을 기업내부에서 구매하는 인소싱(insourcing 흑은 intra-firm sourcing)과 기업외부에서 구매하는 아웃소싱(outsourcing 혹은 inter-firm sourcing)으로 구분하여 각 소싱전략의 중요성을 유럽과 일본의 다국적기업에 대해서 실증적으로 연구하였다.

• The Journal of Asian Finance, Economics and Business
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• 제4권3호
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• pp.35-43
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• 2017

This paper explores the impact of corporate control, measured by ownership structure, on top-executives' compensation in Japan. According to agency theory, the pay-performance link is expected to be affected by the firm's ownership structure. Using a sample of 4,411 firm-year observations (401 firms for the 11-years period from 2001 to 2011) for Japanese non-financial firms publicly traded on the first section and second section of the Tokyo Stock Exchange (TSE), this study demonstrates that institutional ownership (both financial and corporate) is negatively related to the level of executives' compensation. Such finding is in line with efficient monitoring hypothesis which claims that the presence of institutional shareholders provides direct monitoring over managers, limits managerial self-dealing and curves the increase in top-executives pay. On the other hand, the results also show that managerial ownership is positively related to their compensation which supports managerial power theory hypothesis, i.e. management-controlled firms are more likely to extract more compensation from the business than other firms. Overall, this study confirms that corporate control has significant impact on cash compensation paid to Japanese top-executives after controlling the conventional pay-performance relationship.

• 기술경영경제학회:학술대회논문집
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• 기술경영경제학회 2004년도 제24회 동계학술대회 논문집
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• pp.288-315
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• 2004

This paper has examined the leapfrogging thesis with the case of catch-up in digital TV by the Korean firms. Despite the disadvantages implied by the technological regime of digital TV and the risks facing early entrants in trajectory choice and initial market formation, the Korean firms had achieved a 'path-creating catch-up' in the sense they chose a different path from the Japanese forerunning firms. As they have been closely watching the technological trends and the standard setting process, there was less risk of choosing the right or wrong technological trajectory. Also, despite the lack of sufficient capability and core knowledge base, the Korean firms had some complementary asset, such as the experience of producing analogue TV, and were able to develop the prototype digital TV and the ASIC chips, given the accesses to the foreign knowledge via overseas R&D posts and acquisition of a foreign company. To secure the initial market size, the Korean targeted the US market from the beginning, and their sources for competitive advantages were the speedy setting up the production system for mass production of products at the initial stage. The initial failure of the Japanese firms and the success of the Korean firms do suggest that the period of paradigm shift, like this toward digital technology, can serve as a window of opportunity for late-comers while penalizing the forerunner.

• 기술혁신연구
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• 제12권2호
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• pp.99-126
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• 2004

Japan's economic clusters are characterized by their high level of diversity. In essence, Japanese economic clusters are not limited to single industries; they comprise numerous manufacturing industries and firms which cluster in specific heterogeneous economic zones, vice political boundaries. Japanese manufacturing sectors are showing an increased level of diversity, resulting in the spread of experience and knowledge among clusters, and sustained growth at the point of industrial structural transformation. Japan's Ministry of Education, Culture, Sports, Science and Technology (MEXT) proposed the creation of intellectual clusters for the purpose of promoting research and development(R&D) activities resulting in the stimulation and development of new technologies. The Ministry of Economy Trade and Industry (METI) is also proposing the industrial cluster plan with the aim to promote the local rebirth and revitalization of the Japanese industrial sector. This paper proposes a methodological analysis which will result in the integration of the two policies currently implemented by the Japanese government. If the current policies are not coordinated and integrated, artificial firms and sectors will continue to hamper innovation and discourage competitiveness, which will ultimately result in Japan's loss of economic opportunities within Asia. In the worst case, failure to act on current economic deficiencies illuminated in this paper could cost Japan its position as an Asian economic leader.

• 복식문화연구
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• 제13권5호
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• pp.844-855
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• 2005

The purpose of this paper is to examine which fashion brands are most likely to be investigated by Korean textile firms when they conduct their market trend analyses. The result shows that for the domestic sales, textile firms are most likely to collect and analyze information on the Cheil Textil Co. It is followed by Bean Pole, Chanel, Buberry, Tomboy. For the future domestic sales, textile firms prefers referring foreign fashion brands such as Burberry, ZARA, MaxMara, Missoni, and Chanel. Textile firms majoring exports prefers collecting and analyzing information on D&G followed by Chanel, Gucci, and DKNY. This preference, however, differs when considering exporting areas. Textile firms targeting the French market considers Gucci, followed by Ferragamo, Dior, Louisvuitton. Textile firms targeting the Italian market prefer Chanel, followed by Valentine, ZARA, Gucci, and Armani. Chanel is also top brand for the North American and Japanese markets, and followed by GAP, ZARA, OZOC, Missoni, Munshing Wear. The information content collected and analyzed by textile firms is style, pattern, color, and textile materials for textile firms targeting the domestic sales, while the exporting firms prefer information on color and textile materials proposed and presented by the fashion brands to which they prefer to make reference. The result of this study can be used to effectively and efficiently collect and analyze market information on fashion brands for textile firms majoring the domestic and foreign sales.

• 기술혁신연구
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• 제14권2호
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• pp.29-48
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• 2006

This paper analyzes organizational behavior of an established firm when disruptive innovation, a change in product architecture, occurs on a previous product. For the analysis, the paper analyzes and compares the behavior of an established fm through product trajectories between NEC (an established firm) and Toshiba (a new entrance) in the Japanese laptop computers industry. An established firm that has developed and produced a previous product is difficult in adapting to a disruptive innovation due to accumulated immense knowledge through a previous product. By using regression model in the product trajectory analysis, the paper analyzes the behavior of established firms. Product trajectory means a pattern of product strategy shown in a series of products. Two facts found in the paper are as follows. First, though NEC was able to develop a laptop computer at the same time with Toshiba, it was restricted by the resources of a previous product in the early stage. Second, possibility of teaming trap in the adapting process was found. The paper found the risk that too much commitment in one evolution stage would prohibit the adapting behavior in the next evolution stage.

• Journal of Korea Trade
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• 제25권3호
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• pp.134-152
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• 2021

Purpose - Our study aimed to examine the roles of conflict management in maintaining a sustainable good relationship between joint venture (JV) partners. Although the concepts of relational capital, mutual commitment, and cultural adaptation have been neglected in previous research on interorganizational relationships, we treated them as inter-partner fit mechanism capabilities of affecting the level of satisfaction in a relationship with a JV partner. Design/methodology - In order to test hypotheses, we sent a questionnaire to Japanese firms operating JVs in South Korea and asked whether their levels of satisfaction with their JV partners increase when conflict management techniques are used to reduce the conflicts that usually arise between partners. Findings - The results of our study suggested that it is important for firms participating in a JV to construct and reinforce an inter-partner fit mechanism that enables them to maintain a favorable partnership. In addition, we suggested that relational capital, cultural adaptation, and mutual commitment influence conflict reduction and the level of satisfaction experienced in JVs. Moreover, the results showed that conflict management has a significant effect on developing soild partnerships and performance in JV situations. Originality/value - We advanced a new paradigm about conflict management and suggested methods of research propositions that are well grounded in the latest findings in conflict management research pertaining to JVs.

• Asian Journal of Innovation and Policy
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• 제6권3호
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• pp.332-353
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• 2017

This paper highlights how Thailand upgrades its positions in global value chains in high-tech, mid-tech and low-tech industries represented by electronics, automotive and frozen seafood, respectively. In the electronics industry, there are not many capable firms in the upstream segment like semiconductors. Nevertheless, transnational corporations in segment like hard disk drive began to invest in process R&D and collaborate more with local suppliers, universities and public research institutes in human resource and technological development. In the automotive industry, several Japanese car manufacturers such as Toyota, Honda, Nissan, and Isuzu set up R&D/Technical centres in Thailand since 2000s. This prompted Japanese and local part suppliers to also invest more in engineering, design and development activities. Some local universities offer as well engineering programmes specifically targeting the automotive industry. In the frozen seafood industry, several Thai firms have developed new ready-to-eat products, own brands and international distribution networks. They started to become transnational corporations investing in both developing and developed countries.