• Journal of Korean Society of Industrial and Systems Engineering
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• v.39 no.1
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• pp.37-46
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• 2016

Quality has been a key issue to manufacturers. Many distinguished scholars have defined quality with profound insight. Korean firms struggle to make better products to fulfil requirements and satisfy customers. Korean industries have implemented quality management from Japan in early 70s. Statistical quality control, QCC (Quality Control Circle), and total quality management have also been introduced in succession. Chief executive officers, managers, and field employees have been aware of the importance of quality since then. This quality movement force workers to improve quality. They have to maintain the quality of products and compete with foreign products. Korean industries were able to compete with foreign industries in price. However, Korean firms now have to compete in quality as well as price. ISO (International Organization for Standardization) was established and industries around world have started to implement standardized systems depending on their need. ISO 9000 has continuously been revised and firms around world started to register a ISO 9000 certificate. Today's quality competitiveness gets more deeply involved. KSA (Korean Standard Association) have launched QCAS (Quality Competitiveness Assessment System) since 1997. Up until now recent status of QCAS have been reported but the characteristics of QCAS results have not been analyzed. In this article we examine the QCAS results of 41 firms in 2014. QCAS consisted of 13 subsections : strategy and management system, organization culture and development of human resource, information management, quality system, customer satisfaction, management achievement, TPM, logistics, product development and technology, PL, QCC, SQC/SPC, and reliability. We performed one way ANOVA to discover the difference among the levels of firm size, business type, and quality hall of fame using the total scores of 13 subsections resulted from QCAS. We also analyzed the scores of 13 individual subsections of QCAS to see if there is any differences based on firm size and business type. We interpret the results and implication of analysis and finally draw a conclusion.

• Management & Information Systems Review
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• v.28 no.3
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• pp.1-23
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• 2009

Prior bankruptcy studies have established that bankrupt firm's pre-filing financial ratios are different from those of healthy firms or of randomly selected going concerns. However, they may not be sufficiently different from the financial ratios of other firms in financial distress to allow the development of a ratio-based model that predicts bankruptcy with reasonable accuracy. As the result, in the multiple discriminant model, independent variables divided firms into bankrupt firms and healthy firms are retained earnings to total asset, receivable turnover, net income to sales, financial expenses, inventory turnover, owner's equity to total asset, cash flow to current liability, and current asset to current liability. Moreover four variables Retained earnings to total asset, net income to sales, total asset turnover, owner's equity to total asset indicate that these valuables classify bankrupt firms and distress firms. On the other hand, Owner's Equity to borrowed capital, Ordinary income to Net Sales, Operating Income to Total Asset, Total Asset Turnover and Inventory Turnover are selected to predict bankruptcy possibility in the Logistic regression model.

• Journal of Korea Port Economic Association
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• v.32 no.1
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• pp.1-16
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• 2016

In this study, we explore the characteristics of directors' network structure and investigate the relationship among the network of board directors in the Korean logistics industry. Social network analysis reveals hidden patterns of the interlocking directors' network. We construct a directors' network index using social network analysis of the Korean logistics industry. Empirical results have showed that of the 23 companies analyzed, the network index of Korean Air is the highest. The interlocking network index of Korean Air, Hanjin and Hanjin Logistics Company is 0.4, 0.32 and 0.24 respectively. Korean Air has a strong central interlocking network that can create social power through the logistics industry. Our paper contributes to the broad literature in two ways. First, unlike the existing literature on director structure, this paper concentrates on the relationship among interlocking directors. Second, logistics firms need to be aware of the importance of networks and recognize the occurrence of power.

• The Journal of Industrial Distribution & Business
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• v.3 no.2
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• pp.5-16
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• 2012

Purpose - Distribution channels cannot function without cooperation. While evidence suggests channel power plays a fundamental role in fostering successful manufacturer-dealer channel cooperation in Western countries distribution systems, little is known empirically as to how dealers' possession of non-mediated powers influence SME manufacturers' cooperation in Asian developing countries. Research design, data, methodology - Drawing upon the extant distribution channels literatures; this study conceptualizes a model and examines the effects of dealer's non-mediated powers on manufacturing SME firms, as well as the mediating influence of trust, relationship satisfaction and commitment. A survey of 400 manufacturing SMEs in Taiwan empirically supports the proposed hypothesis. Results - The model is acceptable in terms of overall goodness of fit. Acceptable model fit are indicated by χ²/(df): 2.35, GFI≧.90; RMSEA values≦ .08; IFI, TLI and CFI values≧.90. Our results indicate that, GFI (0.910), IFI (0.937), TLI (0.903), CFI (0.936), and RMSEA (0.079) and therefore, achieved the suggested thresholds. Conclusions - The results of this study have some managerial implications for managers in the dealer's firms. The overall implication from the findings is that managers can utilize expert, referent and traditional legitimate powers to attain channel cooperation with manufacturing SMEs in addition to garnering their trust, relationship satisfaction and commitment.

• Journal of Navigation and Port Research
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• v.43 no.6
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• pp.450-461
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• 2019

According to the results of the management evaluation of the nation's public firms over the past seven years, the rating of the port corporation is generally insufficient. According to the results of the seven-year study 2011-2017, the average debt ratio of the port corporation was 34.5%, two to three times lower than that of the general public company, the operating profit ratio of sales was three times higher, and the value added per person was 1.6-1.9 times better. However, the aggregate score and grade were generally low, with 4.1% of the total number of employees of the general public corporation, 10% of the average total assets, and 1% of the average sales volume. The distributed analysis results and panel return analysis results show that the size significantly impacts the overall score and grade. Additionally, major business standards such as port volume, not controlled by the port corporation, appear to have a decisive influence on the low grade of the port corporation. Thus, it appears that improvement and supplementation of key business indicators of port construction are urgently needed in the management evaluation system, which can be properly controlled.

• Journal of the Korean Society of Costume
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• v.44
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• pp.168-179
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• 1999

In order to settle down structural causes of the process of distribution and apparel production in domestic fashion industry, and to raise competitive power with changing market environment, we need to bulid up Quick Response(QR) system based on information technology such as EDI(Electronic Data Interchange), KAN(Korea Article Number), and POS(Point of Sales), POS is the most valuable information tool to promote QR system paractically. The purpose of this study was to investigate motivation of POS adoption, problems in operating the system, and satisfaction on POS effects. Data were collected by sending questionnaire to the managers in apparel firms which were using POS. Statistical devices were t-test, frequency with SAS program. The results fo the study were as follows: 1. The degree of satisfaction to POS effects was rather good. Especially, rapid evaluations on new products gave the greatest satisfaction to the users. 2. Satisfaction degree of POS effects according to introduces time and organization characteristic(number of employees) have no significant difference, but the firms which have higher annual sales volume showed higher satisfaction degree. Merchandise department showed higher satisfaction on POS effects. 3. The motivation of POS adoption was an effective logistics control with consumer information as a marketing strategy. The problems in operating the system were lack of investment, and professionals. They almost didn't have KAN code, instead, have their own code system.

• International Commerce and Information Review
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• v.10 no.1
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• pp.3-31
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• 2008

Northeast Asia is expected to be on economic bloc which is competed with other economic blocs such as EU, NAFTA. E-Commerce based on IT and networking results in paradigm shift in Northeast Asian Nations, that is, Korea, China, Japan, Taiwan etc. There are the similarities and differences in e-Commerce situations in these nations. The differences are the gaps in e-Commerce infrastructures such as Internet, e-Commerce solution, e-payment system and e-logistics system etc. A number of interorganizational, intraorganizational and usage level factors influences the performances of all firms using e-Commerce tools. As result of this empirical study, China records low level of e-Commerce in terms of environmental aspects, usage and performance while Korea and Japan record relatively high levels. It is also found that non-economic performance is higher than economic performance in Northeast Asian firms. The purpose of this paper contributes to resolve the digital divide in Northeast Asia and to improve e-Commerce infrastructures in Northeast Asia by estimating current e-Commerce levels of Northeast Asian countries and suggesting future development strategies of those countries through e-Commerce cooperation.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.9
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• pp.287-300
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• 2021

The study is conducted to find out the impact of the country- and corporate-level governance and firm internationalization on stock liquidity of 120 listed firms in Japan, Hong Kong, Pakistan, and India. Panel data is used in the current study. The annual time span covered in the current study is 10 years. The current study explores results based on secondary data. The findings of the 'robust panel corrected standard error' estimator shows that the internationalization strategy of firms positively influences the stock liquidity. The internationalization strategy of multinational corporations proves to be an effective methodology for improving stock liquidity in the home market as well as abroad. The study also shows that a stronger relationship exists between stock liquidity and internationalization in those countries where the regulatory settings are effective, the judiciary system is efficient and shareholders' rights are protected. Corporate governance and stock liquidity are negatively associated. The study also finds a negative relationship between country-level governance mechanisms and stock liquidity. Whereas the 'robust panel corrected error' estimator shows a positive association between corporate governance mechanisms and firm internationalization. The study depicts that effective corporate governance motivates multinational companies to expand their business abroad.

• Asia Marketing Journal
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• v.15 no.4
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• pp.1-32
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• 2014

The purpose of this paper is to investigate upon a diversification strategy through market creation of CJ Group, which has contributed in positioning of the firm as one of the leading conglomerates in South Korea. With such objective, the background of CJ Group, followed by its business diversification strategies were explored, with reference to several case studies. The history of CJ Group began with establishment of CheilJedang Industrial Corporation in 1953, as the first domestic sugar producer and exporter of South Korea. The corporation gradually expanded its business ever since at both national and global level, to include the fields of food production, pharmaceutical, biotechnology, and life chemicals. Later, CheilJedang (CJ) Group was established as an affiliate of CheilJedang Industrial Corporation. With such independence, extension of business has been witnessed across the industries of media, entertainment, finance, information technology and distribution. Thus, the current CJ Group pursues to define itself as a progressive global living culture company with four major business categories from food and food service, biotechnology, entertainment and media, and logistics. Despite its success in today's market, CJ Group underwent hardships in its business diversification in 1990s due to indiscreet management, along with the Asian financial crisis. Here, many firms overcame the financial difficulties by taking advantage of the exchange rate for overseas expansion. Though, CJ Group tried to differentiate itself by focusing on the domestic market by creating something out of nothing. Hence, CJ Group takes a unique position among many cases of business diversification and their categorization. In an effort to identify and classify the types of growth experienced by the top 30 companies in South Korea, the firms were categorized into four groups according to their diversification strategies adapted after the Asian financial crisis. Based on the mode and time of entry, corporations were identified either as the 'Explorer', 'Invader', 'Venture Capitalist', or 'Assimilator'. Here, the majority of the firms showed the qualities of Invader, entering mature markets through large-scaled mergers and acquisitions. However, CJ Group was the only firm that was categorized as an Explorer, for its focus on the newly emerging service sector in culture-contents industry. This diversification strategy through market creation is worth examining, due to its contribution in generating simultaneous growth between the market and the company itself. Diverse brands of CJ Group have been referred to as case studies in this regard, from 'Hatban', 'Cine de Chef', 'VIPS' to 'CJ GLS'. These four businesses, each to represent processed food, film, restaurant service, and logistics industries respectively, show CJ Group's effectiveness in creating a whole new category of goods and services that are innovative. In fact, such businesses not only contributed in advancement of consumers' wellbeing, but toward generating additional value and employment. It is true that the diversification strategy of CJ Group requires long-term capital investment with high risk, compared to the other strategies mentioned in the paper. However, this model does create high employment and additional values that are positive to both the society and the firm itself. Therefore, the paper comes to a conclusion that the diversification strategy through market creation conveys the most positive impact relative to the others.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.2
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• pp.237-247
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• 2020

This study explored the impact of interactional justice on supply-chain collaboration and sustainable supply-chain performance. Accordingly, it classified interactional justice of supply-chain management (SCM) into interpersonal and informational justice, and empirically classified the effects of these subordinate concepts on supply-chain collaboration and sustainable supply-chain performance. To this end, 700 questionnaires were distributed, and 201 final valid responses were used for the statistical analysis which revealed the significant positive influence of interpersonal justice on informational justice. This indicates that courtesy, respect, and proper words are important in the relationship between buyers and sellers. Both interpersonal and informational justice had a significant positive relationship with supply-chain collaboration. The results suggest that a fair-trade environment should be cultivated to encourage and facilitate seller-buyer collaboration. Lastly, supply-chain collaboration had a positive influence on sustainable supply-chain performance. This implies that if justice is not perceived in the seller-buyer relationship, collaboration can be hindered, which negatively impacts corporate performance. These findings also helped to understand the importance of interactional justice and to propose a new relationship between interpersonal and informational justice.