• The Journal of Information Systems
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• v.16 no.3
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• pp.109-132
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• 2007

In the paper, we builds an advanced new credit evaluation system for Micro-small sized individual firms through appropriate evaluation factors derived by logistic regression analysis for credit evaluation model using in Korean Federation of Credit Guarantee Foundations, and the weights of factors computed by analytic hierarchy process(AHP). Industry characteristics are more applied to previous credit model with the additional the financial fact-information and non-financial judgement-information. Our results show that the financial factors have become more important than three years ago. Moreover, in the non-financial factors, the fact-information factors consider more important then the judgement-information factors. A new credit evaluation system is developed based on this credit evaluation model.

• The Journal of Industrial Distribution & Business
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• v.8 no.2
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• pp.21-31
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• 2017

Purpose - The total amount of advanced Corporate Pension Insurance products exceed 148 trillion Korean Won at the end of 2016. For a firm with over 300 employees, when a bill on compulsion of introduction of Corporate Pension Insurance products, currently pending in court, is passed, Corporate Pension shall be an essential. The findings of the paper will provide a guideline for understanding on firm's attributes and its effects towards introduction of Corporate Pension Insurance products. Research design, data, and methodology - The data were collected using statistics of employer panel survey from Korea Labour Institute in 2013. The study analyses a sample survey on 1,775 outstanding enterprises and their HR department among whole corporations in Korea. For analysis of data, empirical testing by Logistic Regression was utilized. Results - As an outcome of empirical testing, variables on share of regular employees and the aged employees in over 50's generates a significant statistical meaning. It eventually gives a great impact on purchase of Corporate Pension scheme. Moreover, variables on corporate financial statement, current sales, current net income, total amount of the debts, labor cost per person also has a vital influence on introduction of Corporate Pension Insurance products. Lastly, variables on firm's labor relationship have no effect except for the execution or non-execution of HR consulting. Meanwhile, Variables affecting a choice on pension schemes types among firm's attributes are a share of regular employees, current net income, execution or non-execution of HR consulting etc. These variables represents a statistical implication. According to their each features, they prefer DB or DC plan. Conclusions - Introduction of corporate pension scheme is apposite to contemporary Korea's situation entering a hyper-aging society and firms with a high share of regular employees, the weight of aging, current sales, current net income and labor cost per person are exceedingly active in purchasing Corporate Pension Insurance products. However, after the introduction of corporate pension scheme, firms which has an implementation of consultation on human resource management, flexible benefits plan, job security and welfare system prefer DC plan whereas from financial perspective firms with high net income prefer DB plan.

• Korean Journal of Occupational Health Nursing
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• v.25 no.4
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• pp.277-289
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• 2016

Purpose: This study aims to investigate the cross-sectional association of company size and self-rated health using representative data on Korean workers. Methods: We used the data from 2,884 wage workers collected by Korean Labor and Income Panel Study (17th). The association between company size and self-rated health was analyzed using logistic regression with covariates including demographic characteristics, work environment, job satisfaction, and health-related behaviors. Resulst: Odds ratio (OR) for better health status among workers in large-sized company was 1.351 (CI. 1.054~1.731), compared to workers in small-sized company. We performed three separate models stratified by firm size (small, medium, and large companies). Occupation variables showed different effect on health depending on firm sizes. OR for better health of white-color job (referred to blue-color job) was 1.693 in medium-sized company model but it was 0.615 in large company model. OR for better health of the workers working shift work showed 0.606 in large company model but it was not significant in small and medium company models. Conclusion: We found that small-sized company workers have significantly poor self-rated health compared to large-sized firm workers. This study revealed that there exist differences among health related factors depending on firm sizes.

• The Journal of the Korea Contents Association
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• v.12 no.2
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• pp.369-387
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• 2012

Based on the survey data, this study focused venture firms examines how organizational resources and capabilities along with its external environmental conditions have an effect on its strategy and performance. In particular, this article attempts, by performing a binary logistic regression analysis, to identify the venture-specific importance and priority of the factors that may influence firms' strategy patterns, with multiple regression analysis on the relationships between some variables included in the model. The survey was conducted from October 1, 2010 through October 30, 2010. The results of this study are the following. First, the more firms are exposed to high industry growth and low competitive intensity, the higher chance they get to pursuit aggressive strategy. And then a firm seeks aggressive strategy, when it has more technological resources and human resources. Third, environmental uncertainty, industry growth, technological resources, human resources, financial resources and marketing capabilities have positive effects on firm's performance. But, competitive intensity has no direct influence firm's performance. Finally, CEO competence directly influences firm's performance, but the interaction. of CEO competence with other variables is not significant.

• Journal of Korea Technology Innovation Society
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• v.9 no.4
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• pp.812-841
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• 2006

Previous studies have shown that the ex-ante financial ratios, mainly used by financial institutions for loan evaluation purpose, are related to the ex-post finn's performance of venture firm's. The main objective of this study is to examine whether non-financial variables such as 'technology', 'marketability', and 'other business indexes' have extra explanatory power in forecasting the ex-post firm's performance of small and medium size venture firm's in Korea. The implications and results of this study are expected to be useful in loan evaluation, investment decision and internal management decisions of venture firms. Among small and medium sized manufacturing firms funded in the year of 1999 through 2005, 416 firms are selected for our analysis. The relationship between evaluation indexes and firm's success/failure is investigated using binary logistic regression analysis and factor analysis with an aid of SPSS program. The summarized results are as follows. First, current evaluation model, used for loan evaluation purpose for small and medium size manufacturing firms show the same discriminatory power as previous prediction model. Second, among the tested additional variables, significant indices are 'technological capability of CEO', 'managerial capability of CEO', and 'business feasibility'. Third, while previous studies on evaluation structure had 3 factors, this study showed that valuation's structure has 6 factors.

• Knowledge Management Research
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• v.16 no.4
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• pp.1-16
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• 2015

This paper aims to explore the small and medium sized enterprises'(SMEs') technological innovation through an open innovative strategy. Researchers have identified open innovation as external search 'breadth' and 'depth'. Although an open innovation strategy is well known as an effective way for SMEs' innovation, this stream of research examines differences between pursuing breadth of external knowledge and depth of external knowledge for SEMs' innovation. The sample comprises a total of 1106 SMEs included in the Korean Innovation Survey, and logistic regression analysis and odds ratio comparison were used to evaluate the relationship between external knowledge search and innovation outcomes. The results show that both 'breadth' and 'depth' positively affect the SMEs' innovation. When SMEs are simultaneously pursuing external searching for breadth and depth, however, a negative result on innovation outcome followed because of the lack of their internal resources and capacities. Despite these contributions, we have certain limitations that can be regarded as means of future research. Even though breadth and depth are adopted to measure the way of how a firm sources the external knowledge, companies may place the different weight on each source of knowledge. And also, it is difficult to understand how the knowledge gained through external search contributes to a firm's incremental and radical innovation, respectively.

• The Journal of Asian Finance, Economics and Business
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• v.5 no.4
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• pp.67-72
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• 2018

The purpose of this study is to investigate the effect of quality of management discussion and analysis (MD&A) disclosure on stock price crash risk. The MD&A can be seen to reflect the management's intention on public announcement and reveals directly what the management says to communicate with outside investors. A firm's high-quality MD&A implies the management's commitment to communicating with the market, not allowing the managers to have incentives to hoard unfavorable news, which if revealed to the public, may lead to downward stock price corrections, damaging corporate values. The high-quality MD&A is, thus, likely to reduce the stock price crash risk. We use a logistic regression to test whether MD&A influences crash risk using listed companies in the Korean Stock Exchange (KSE) stock market between 2010 and 2013. Findings of the empirical test show that the higher the quality of MD&A, the less likely crash risk appears, implying that the MD&A disclosed adequately can be one of the factors mitigating firm's stock price crash risk. This study has implications as it presents the MD&A disclosure as a factor influencing stock price crash risk and suggests voluntary disclosure as well as mandatory disclosure acts as a variable that explains the risk of stock price crash.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.8
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• pp.289-296
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• 2020

The study investigates the association between the effectiveness of the board of directors and the likelihood that a company receives a modified audit opinion (as a measure of the quality of companies' external financial reporting) in Malaysia. The sample companies were extracted from the population of publicly-available information mainly the annual reports of publicly-listed companies on the Bursa Malaysia. 136 firm-year observations listed on Bursa Malaysia were identified to examine the relationship between the effectiveness of the board of directors and a modified audit opinion. Data used in this study are collected from two separate sources - annual reports and Datastream. Any missing financial figure from Datastream was acquired from the annual reports. To test the study's hypotheses, we use the pooled cross-sectional logistic regression analysis for 136 firm-year observations listed on Bursa Malaysia over the period 2009-2011. The evidence we have uncovered is consistent with the hypothesis that companies with large score of the board of directors' effectiveness are less possible to receive a modified audit opinion. Therefore, the result confirms that the combined effect of the board of directors' characteristics has a significant negative association with the likelihood of the companies receiving a modified audit opinion.

• The Journal of Asian Finance, Economics and Business
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• v.6 no.1
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• pp.47-58
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• 2019

The purpose of this paper is to examine the relationship between the nature of controlling shareholders and corporate anti-corruption practice disclosure (ACPD) as well as the mediating role of political background of the chairman or CEO of the firm on the relationship between the two. The content analysis was conducted to extract ACPD from standalone corporate social responsibility reports (CSRR) of 703 China's A-share listed companies. A dummy variable was constructed according to whether a firm disclosed ACPD or not. Logistic regression analysis was used then. Results show that the nature of controlling shareholders has a significant impact on corporate ACPD, with central enterprises disclosing the most frequently, local state-owned enterprises the second and private enterprises the least. Political background of the chairman or CEO has a negative impact on corporate ACPD of state-owned enterprises. These findings have some useful insights in understanding the rent-seeking behavior and information disclosure behavior of corporates in emerging markets. In order to curb the serious corruption problem which is commonplace in developing countries like China, the government should exert certain pressure to strengthen the supervision of information disclosure of listed firms and improve information transparency.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.3
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• pp.267-275
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• 2021

This study investigates the relationship between cultural distance and entry mode choice, where the foreign investor firm and the host country are both from emergent economies. Within this framework, research is limited and the issue is whether companies, regardless of their specific situations, have the same strategy when they meet a high degree of uncertainty in the host environment. In this study, we focused on the influence of informal institutional factors: cultural distance, that has been extensively analyzed in international business, measured by Kogut and Singh index and defined according to Hofstede, Globe Project and Schwartz approaches. The general trend derived from prior research proves that when a company from a developed country is involved; overall more enthusiasm is shown for wholly-owned subsidiaries rather than joint venture. This result still stands validated for corporations from this emergent economy area. Our analysis of a sample of 163 FDI in the Kingdom of Saudi Arabia (KSA) using logistic binary regression model reveals that the foreign firms prefer to establish wholly-owned subsidiaries in the host country over entering into a joint venture with a local firm, taking into consideration the large cultural distance.