• Korean Journal of Construction Engineering and Management
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• v.6 no.1 s.23
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• pp.151-161
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• 2005

This paper analyzes the technical efficiencies of 38 Korean engineering and construction firms and the efficiency changes from 1999 to 2003 using data envelopment analysis (DEA). Best practice firms in terms of technical efficiency and profit are identified. For inefficient firms, performance targets to be efficient are suggested. Technical efficiencies had been increased over the five year period, and the efficiency difference between firms had been reduced during this period. The differences in efficiency due to the differences in cooperate governance structures are statistically significant. In addition, the technical efficiency is correlated with product portfolios, degree of subcontract, rates of value added, returns on invested capital, and EBITDA.

• Korean Journal of Construction Engineering and Management
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• v.15 no.1
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• pp.62-69
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• 2014

Since a government policy greatly affects markets and firms, an evaluation on government's policies is recognized as a critical issue. In Korea, two major policy plans on CM(Construction Management) include the Construction Industry Promotion Plan and the Construction Technology Promotion Plan from which Government's CM policies can be understood. The objective of the study is to analyze and discuss CM firm's perception and evaluation toward the Government's CM policies of the two plans based on the Gap analysis. The paper identified that the CM firms perceive that the Government's CM policies properly deal with key issues of the industry. However, they evaluate that the execution of the policies has been overall under-performed. As a way forward, the Government needs to improve on the execution plan and performance measurement rather than to develop new policy agenda.

• Korean Journal of Construction Engineering and Management
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• v.16 no.6
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• pp.73-83
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• 2015

Construction management firms in Korea have mainly focused on the key management areas of time, cost, quality and safety management in line with a rapid change of construction industry recently. However, a risk management is considered comparatively less important found from our research on an investment by the firms for training, system establishment. This has been identified that the construction management firms have taken an approach of dealing with risks with their experience, insight rather than managing risks with a systemized principles or proper tools. Therefore, the current system for risk management was identified by analyzing risk factors and work process in this research and systemized process for risk management of the identified risk factors was suggested. This research is expected to be a basis on establishing standard gudiance for risk management and risk management tools.

• Proceedings of the KSR Conference
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• 2011.10a
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• pp.3220-3225
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• 2011

Current IT Tools for construction project have been developing to satisfy the requirements of improving productivity and quality. Especially, the critical technology of the construction IT tools is the BIM (Building Information Modeling) which integrates and controls the construction information by modeling the structures in the virtual environment. Many domestic studies have been performed for developing various BIM tools and these have been demonstrated through a successful case study. However, because of the most studies focused on architecture and major construction firms, small construction firms are very difficult to utilize a BIM tool without a verification of it. To resolve these problems, this study suggests performance indicators to quantitatively assess the utilization of 4D CAD which is one of the representative BIM tools by BSC (Balanced Score Card). This performance indicator will be used as a measurement for applying IT tools in Construction Project.

• Korean Journal of Construction Engineering and Management
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• v.13 no.5
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• pp.125-134
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• 2012

In the construction industry, "Green" is emerging as a keyword of new growth engine. Since green construction competitiveness is essential for contractors' survival and growth, it is important to understand what constitutes green construction competitiveness. The objective of the study is to identify elements of green construction competitiveness and to discuss relationships between their importance and current level based on the Gap analysis. A better understanding of the elements of green construction competitiveness assists contractors in formulating green strategies. It also provides insight into what motivates contractors in establishing related policies and regulations. The study identifies that in general there exists a gap between the importance and current level of green construction competitiveness. It also demonstrates that CEO' competence shows a less gap between the importance and current level but firms' competence is an area of weakness. Finally a substantial gap is observed in the field of green R&D strategies and sub-contracting partners.

• The Journal of Economics, Marketing and Management
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• v.7 no.3
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• pp.43-49
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• 2019

Purpose - This paper empirically investigates what factors contribute to management decisions by corporate governance in the Korean stock market. In the paper, dividends and investments were imployed as management decisions and major stockholders' shares and foreign investors' shares were used as corporate governance. Research design, data, and Methodolog - Samples are constructed by manufacturing firms listed on the stock market of Korea as well as those who settle accounts in December from 2001 to 2018. Financial institutions are excluded from the sample as their accounting procedures, governance and regulations differ. This study adopted the panel regression model to assess the sample construction including yearly and cross-sectional data. Results - This results support the literatures that major shareholders showed insignificance to dividends, positive significance to investment in financially unconstrained firms and negative significance to investment in financially constrained firms. Whereas foreign investors favor firms to increase dividends but they decrease investments only in financially constrained firms. Conclusion - This paper documented evidence that financial constrained firms use dividends for their investment and foreign investors decrease investments under financial constraints. But for dividends decisions, foreign investors give significant positive impacts irrespective of financial constraints.

• East Asian Journal of Business Economics (EAJBE)
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• v.7 no.4
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• pp.41-49
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• 2019

Purpose - This paper empirically investigates what factors contribute to corporate investments under financial constraint condition in the Korean stock market. In the paper, tangible assets' growth rate and fixed assets' growth rate were employed as investment performance and total assets were also used for comparison purpose. Research design and methodology - Samples are constructed by manufacturing firms listed on the stock market of Korea as well as those who settle accounts in December from 2001 to 2018. Financial institutions are excluded from the sample as their accounting procedures, governance and regulations differ. This study adopted a fixed panel regression model to assess the sample construction including yearly and cross-sectional data. Results - This results support the literatures that major shareholders showed positive significance to investment in financially unconstrained firms and no significance to investment in financially constrained firms. ROA showed positive significance to investment in financially unconstrained and constrained firms, whereas firm size showed negative significance to investment in financially unconstrained and constrained firms. Debt showed no positive significance to investment in financially unconstrained firms and negative significance to investment in financially constrained firms. Conclusions - This paper documented evidence that ROA and firm size are important factors to investment irrespective of firms' financial constraints. And this paper also supports that major shareholders give positive impact to investments in financially unconstrained firms. This means that financial constraints itself rule corporate' investment decision in financially constrained firms.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2011.11a
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• pp.137-138
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• 2011

Mainly in construction liens to four contractors do not receive your order is caused by construction. This construction does not receive construction compunction to protect the contractor, I guess. On the other hand, the medium and small construction companies and contractors that could threaten the order four can be a problem. In this study, small construction companies to the lien of the lien claim on the issue of case studies have looked for the study. Small construction companies, in your case through the litigation between the lien of the lien litigation perspective, the cause of four orders after the analysis step by step construction was listed in chronological order. Identifying problem was the result of a lien. This study to previous studies regarding the lien on the issue through case studies of one kind of lien was derived for the problem. A follow-up studies and more case studies and interviews are considered necessary in the study.

• Journal of Korea Technology Innovation Society
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• v.7 no.2
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• pp.351-372
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• 2004

This paper examines the change of innovation practices in the Korean industry which is entering into the 'post catching-up regime'. In catching-up regime, the technological loaming practices of Korean firms could be characterized as the assimilation and improvement of foreign technologies through crisis construction and time pressure. Crisis construction and time pressure were the important factors enhancing the intensity of technological teaming and shaping the way of doing imitative innovation. But the innovation patterns of firm are changing. The new ways of doing innovation are emerging in Korean mobile phone industry which is becoming a world leader： the emphasis on the importance of technological planning, the enhancement of collaborative networks among related firms, the toleration on the failure and the effort to acquire core technologies. Though Korean firms have not developed enough capabilities to create basic core technologies, they can develop their competitiveness through creative combination of technologies and are approaching the world frontier.

• Korean Journal of Construction Engineering and Management
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• v.20 no.5
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• pp.3-11
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• 2019

This study is designed to examine the stock price of construction firms which are affected by the deregulation of new apartment sales price. As empirical methodology, it uses the traditional event study analysis to test the influence of the deregulation of new apartment sales price and the regression analysis to test which variables are related. The results of this study are summarized as follows : First, the cumulative abnormal return of stock is positive when government announced the deregulation of new apartment sales price. The cumulative abnormal return of stock for 21 trading day before -10 to +10 day is 25.51% which is significant different from zero at 1 percent level. This result suggests that the deregulation of new apartment sales price conveys good information to stock market that the firms performance will be good in the future. Second, in the regression analysis this study shows that the cumulative abnormal return of stock is related to firm's profit margin ratio.