• International Commerce and Information Review
• /
• v.19 no.1
• /
• pp.235-256
• /
• 2017

This study is to analyse how trust and asset specificity among partner firms affect on performance of international joint venture(IJV). Especially, the analysis was mainly based on a quadratic model. While it assumes that the previous studies was based on linear model in the relationship between trust, asset specificity and the performance, this study proceeds a empirical analysis by setting up a hypothesis; it would be quadratic relationship between trust, asset specificity and performance which are based on social capital theory and transaction cost theory. The survey was held with 74 manufactures who were established as an IJV by Korean and foreign firms together. In the result of the empirical analysis, trust shows an inverted U-shaped relationship with IJV performance. Also, asset specificity shows the U-shaped relationship with IJV performance. The results suggest that it needs to control and maintain the trust level among the partners in order not to lose an appropriate control caused by too much trust. In order to minimize the cost generated by asset specificity and to transform it into positive impact, it needs a control and the operation of monitoring system on the opportunistic action of the partners. Furthermore, it needs to keep organizational flexibility and innovativeness to continuously develop new capabilities.

• Journal of the Korea Academia-Industrial cooperation Society
• /
• v.12 no.10
• /
• pp.4359-4368
• /
• 2011

Among several macroeconomic missteps blamed for the recent global financial crisis including the social problems of income distribution and the lack of proper financial remedies, two of them have received particular attention: the global BOP(Balance of Payment) imbalance and the misguided monetary policy. Such BOP imbalance was blamed for massive foreign exchange investment flows from Asia into the U.S., triggering the financial and real estate bubble in America. The latter refers to the excessively loose monetary policy of the U.S. Federal Reserve, which pushed financial institutions and households into reckless investment behavior in search of higher returns. Given the abuse of certain innovative financial techniques and new investment instruments that have been created in recent decades, both collateralized debt obligations (CDOs) and credit default swaps (CDS) enjoyed a symbiotic and toxic relationship prior to the financial crisis This paper is organized as follows: The first section analyzes the real causes of the recent financial crisis. The second details the role of CDOs and CDS. Then, to identify key determinants of the CDS spreads in an emerging capital market, the sample data of major Korean firms' CDS spreads are used to estimate the risk premium by utilizing the multiple regression analysis. The empirical test result indicates that Korean 3-year treasury bond rate(TYIELD), market to book value ratio(MV/BV), and assets size(INASSETS) are shown to demonstrate statistically significant influences on the changes of the CDS premium for sample firms.

• Korea Trade Review
• /
• v.42 no.6
• /
• pp.69-85
• /
• 2017

In 2014, India legalized corporate social responsibility(CSR) for foreign companies and enforced it. Meanwhile, one of the Korean companies' concerns is that the turnover rate of employees is very high. Therefore, this study was conducted in four dimensions. First, Korean IT companies in India ought to work on CSR activities so this study investigates to see if CSR can reduce employee turnover rate. Second, the study is to verify whether job embeddedness plays mediating role in the relationship between CSR and 'intention to leave'. Third, the study is also to verify whether organizational identification plays mediating role in the relationship between CSR and 'intention to leave'. Lastly, the study is also to verify whether job embeddedness and organizational identification show dual mediation effect in the relationship between CSR and 'intention to leave'. The results of the study are as follows ; First, CSR does not make any significant effect on 'intention to leave'. Second, job embeddedness and organizational identification show dual mediation effect in the relationship between CSR and 'intention to leave'. So if Korean IT firms in India conduct CSR activities strategically, the activities can eventually reduce the propensity of 'intention to leave'. Based on the results, several implications on Korean IT firms are suggested for reducing the propensity of 'intention to leave' in India, effectively.

• The Korean Journal of Franchise Management
• /
• v.1 no.1
• /
• pp.19-42
• /
• 2010

Since circulation market whole surface opening, traditional market is real condition that is looked away more gradually to consumer as reasons of international retail firms and domestic enterprise firms to enter distribution industry, internet mail order rapid increase by information-oriented society, the pursuit of upgradation and normalization by elevation of income level and consumption pattern change that consideration convenience with young consumers as the central figure. Therefore, the purpose of this study is to analyze stagnation cause of traditional market and problem within a change of new distribution environment, and to develop new approaches for dealing with domestic traditional market relationship prompting competition through activation example analysis of foreign traditional market and domestic traditional market. The result of the study indicated that there are a lot of cases that are begun by a few's merchant with leadership that has been will which is strong in activation in beginning in market's occasion that succeed in activation. In particular, software side such as operational efficiency or marketing expertise strengthening of management is that effect is high relatively than hardware side market activation. Also essential to the settlement of credit transactions using credit cards is important for expanding the effort, for the expansion of credit card merchant credit card advantage and raise awareness among traders about the expected effects is needed. Though these study finding submits plan that create market ecosystem so that many consumers may become place that could visit naturally and create pleasure and convenience, and time, monetary, psychological value of shopping to traditional market, there is sense.

• KDI Journal of Economic Policy
• /
• v.35 no.2
• /
• pp.41-70
• /
• 2013

In this paper, we analyzed whether there exists positive relation between firm's global activity and various innovation output and, if it exists, what are the major factors by which innovation outputs can be generated, focusing on the different degree of global activity. We found that for foreign MNC affiliates, their superior information access to existing knowledge is much more important and for non-MNC exporters and domestic MNC parents not only access to existing knowledge but also active investment in new knowledge is important. When we analyze the product and the process innovation separately, we found that for the process innovation information flows from existing knowledge is relatively more important while for product innovation investment in new knowledge and information flows from existing knowledge are almost equally important. Thus in Korea policies that promote both direct R&D activities and information flows should be pursued at the same time to enhance firms' innovativeness.

• Journal of the Korean Geographical Society
• /
• v.51 no.2
• /
• pp.235-253
• /
• 2016

China has been developing a new auto industry growth plan since 2004. In line with this initiative, China actively adopted its policy favoring foreign companies' investment which had a competitive edge over their technologies and manufacturing methodologies. To meet this demand in policy and market change, many foreign auto companies and their parts' manufacturers including Korean auto companies joined this stream. Policy change favoring higher technologies applicable in China requested auto companies' swift adaptation to meet the policy requirements by higher technologies with innovation and introduction of those foreign technologies to China. The spatial (excellence) strategy was followed by the increase in its efficiency and competiveness of each region, which were materialized by or in the form of; Firstly, strategic partnership with China auto companies and encouragement of Korea auto parts manufacturing companies to set up its own factories in China. Secondly, modularization and platform sharing strategy by applying enhanced technologies. Thirdly, strategic utilization of China local government's incentive policies. As production management methodology, JIS was adopted all across the board to meet the on-demand market requirements in the manufacturing processes. Auto part manufacturers had been integrated regionally based on forward linkages and modules. As a result, regional-specific auto industry complexes have been made in the places such as Beijing-Hyundai in the north, Dongfeng-Yueda-Kia in the south, common auto parts at central area like Qingdao, and other parts and raw materials in the vicinity of Shanghai.

• Journal of the Korean Society for Library and Information Science
• /
• v.16
• /
• pp.281-327
• /
• 1989

This dissertation is presented in two major parts. The first part presented in Chapter 3 attempts to verify the major hypothesis of the present study that the research and development laboratories(hereafter referred to R&D laboratories), establishd withine industrial firms to develop new technologies needed for their own industrial activities, may have another but very important functions to bring information on the externally generated technologies to attention of their respective management decision makers, eventually resulting in the transfer of technology; and such information functions of the R&D laboratories may be better performed by well-organised laboratories than by poorly-organised ones. The second part presented in Chapters 4, 5, 6 and 7 discusses, after the preceding hypotheses has been verified, some desirable situations of the R&D laboratories in facilitating the flow of information on new technologies developed in the world into their industrial firms, centering on the organisational positions and the major fields of interest of the person in charge of the R&D centers, services of the library and technological information office supporting the R&D laboratories, and frequencies of direct contacts of research and development workers with experts in the world and of participation in various conferences, seminars, workshops, exhibitions, etc. Now that there is no recognised instrument and method available for direct measurement of volume of technological information transfered into a particular industrial firm, the number of technologies introduced into a given firm is employed in the present study as an analogous parametre indicating volume of technological information transfered into the firm during a particular period of time. A logical attempt to justify the use of the indirect paramentre is made in Chapter two. vidences needed to verify the hypotheses of the present study are collected through the various publications of the Korea Industrial Research Institutes and other agencies and institutions related to industrial research activities, and through responses to the questionnaire posted to a sample of the 66 R&D laboratories on 6 May 1987 and returned by 30 August of the same year. Some findings and conclusions made in the study are summarised as follows: (1) More information on externally developed technologies flows into the industrial firm with a R&D laboratory of its own than into the industrial firm without one, and naturally, more chances of transfer of technologies are given to the former than to the latter (see 3. 2) (2) After establishing an R&D laboratory, more technological information flows into the industrial firm than before establishing one (see 3. 3) (3) More technological information flows into the industrial firm with a well-organised R&D laboraory than into the firm with a poorly-organised one (see 3. 4) (4) More technological information flows into the ndustrial firm where the director of its R&D laboratory has status qualified to participate in the highest managerial decision making processes of the firm than into the industrial firm where the director does not have such status (see 4. 2) (5) More technological information flows into the industrial firm where the director of R&D laboratory does not hold other positions within the firm than into the industrial firm where the director holds other positions (see 4.3) (6) There is evidence showing that quantities of technological information transfered into industriali firms vary with the case that the major background of the director of the R&D laboratory is the same as the main field of R&D activities of his or her laboratery, the case that the director's background is partly related to the field of R&D activities of the laboratory, and the case that the director's major background is different from the field of R&D activities of the laboratory (see 4.4) (7) More technological information flows into the industrial firm with the director of its R&D laboratory appointed from among professional research and development workers than into the industrial firm with the director of its R&D laboratory appointed from among general managers (see 4.5) (8) More technological information flows into the industrial firm with its R&D laboratory which has established a library service unit within its own jurisdiction than into the industrial firm with its R&D laboratory which has established a library service unit within its own jurisdiction than into the industrial firm with its R&D laboratory which uses a library within the firm but outside the laboratory (see 5. 1) (9) More echnological information flows into the industrial firm with a technological information office of its own than into the industrial firm without such an office (see 5. 2) (10) More technological information flows into the industrial firm with a large research and development staff in its R&D laboratory than into the industrial firm with a small staff in its R&D laboratory (see 5. 2) (11) More technological information flows into the industrial firm with its R&D laboratory whose staff members more frequently contact experts in the conferences, seminars, symposiums, and workshops held in foreign countries and novelties in the world's major exhibitions than into the industrial firm with its R&D laboratory whose staff members less frequently contact such experts and novelties (see 6. 2 ; 6. 3)

• Journal of the Korean Geographical Society
• /
• v.30 no.2
• /
• pp.146-168
• /
• 1995

problems involved in defining and identifying it. However, data on ownership of business establishments may be useful and one of the best alternatives for this empirical research because of use of limited information about control This study examines the spatial patterns of external control in the Korean manufacturing activities between 1986 and 1992. Using the data on ownership iinkages of multilocational firms between 15 administrative areas, it was possible to construct a matrix of organizational control in terms of the number of establishments. The control matrix was disaggregated by three types of manufacturing industries according to the capital and labor requirements of production processes used in. On the basis of the disaggregated control matrix, a series of measures were calculated for investigating the magnitude and direction of control as well as the external dependency. In the past decades Korean industrialization development has risen at a rapid pace, deepening integration into the world economy, together with the continuing growth of the large industrial firms. The expanded scale of large firms led to a spatial separation of production from control, Increasing branch plants in the nation. But recent important changes have occurred in the spatial organization of production by technological development, increasing international competition, and changing local labor markets. These changes have forced firms to reorganize their production structures, resulting in changes of the organizational structures in certain industries and regions. In this context the empirical analysis revealed the following principal trends. In general term, the geography of corporate control in Korea is marked by a twofold pattern of concentration and dispersion. The dominance of Seoul as a major command and control center has been evident over the period, though its overall share of allexternally controlled establishments has decreased from 88% to 79%. And the substantial amount of external control from Seoul has concentrated to the Kyongki and Southeast regions which are well-developed industrial areas. But Seoul's corporate ownership links tend to streteh across the country to the less-developed regions, most of which have shown a significant increase of external dependency during the period 1986-1992. At the same time, a geographic dispersion of corporate control is taking place as Kyongki province and Pusan are developing as new increasingly important command and control reaions. Though these two resions contain a number of branch plants controlled from other locations, they may be increasingly attractive as a headquarters location with increasing locally owned establishments. The geographical patterns of external control observable in each of three types of manufacturing industries were examined in order to distinguish the changing spatial structures of organizational control with respect to the characteristics of the production processes. Labor intensive manufacturing with unskilled iabor experienced the strongest external pressure from foreign competition and a lack of low cost labor. The high pressure expected not only to disinte-grate the production process but also led to location of production facilities in areas of cheap labor. The linkages of control between Seoul and the less-developed regions have slightly increased, while the external dependency of the industrialized regions might be reduced from the tendency of organizational disintegration. Capita1 intensive manufacturing operates under high entry and exit barriers due to capital intensity. The need to increase scale economies ied to an even stronger economic and spatial oncentration of control. The strong geographical oncentration of control might be influenced by orporate and organizational scale economies rather than by locational advantages. Other sectors experience with respect to branch plants of multilocational firms. The policy implications of the increase of external dependency in less-developed regions may be negative because of the very share of unskilled workers and lack of autonomy in decision making. The strong growth of the national economy and a scarcity of labor in core areas have been important factors in this regional decentralization of industries to less-developed regions. But the rather gloomy prospects of the economic growth in the near future could prevent the further industrialization of less-developed areas. A major rethinking of regional policy would have to take place towards a need for a regional policy actively favoring indigenous establishments.

• Journal of Global Scholars of Marketing Science
• /
• v.19 no.3
• /
• pp.37-48
• /
• 2009

The standardization of marketing has been one of the most focused research topics in international marketing. The term "global marketing" was often used to mean an internationally standardized marketing strategy based on similarities between foreign markets. Marketing standardization was discussed only within the context of traditional physical marketplaces. Since then, the digital "marketspace" of the Internet had emerged in the 90's, and it became one of the most important drivers of the globalization process opening new opportunities for the standardization of global marketing activities. On the other hand, the opinion that a greater adoption of the Internet by customers may lead to a higher degree of customization and differentiation of products rather than standardization is also quite popular. Considering this disagreement, it is notable that comprehensive studies which focus upon the marketing standardization especially in the context of global e-commerce are missing to a high degree. On this background, the two basic research questions being addressed in this study are: (1) To what extent do companies standardize their marketing in international e-commerce? (2) Is there an impact of marketing standardization on the performance (or success) of these companies? Following research hypotheses were generated based upon literature review: H 1: Internationally engaged e-commerce firms show a growing readiness for marketing standardization. H 2: Marketing standardization exerts positive effects on the success of companies in international e-commerce. H 3: In international e-commerce, marketing mix standardization exerts a stronger positive effect on the economic as well as the non-economic success of companies than marketing process standardization. H 4: The higher the non-economic success in international e-commerce firms, the higher the economic success. The data for this research were obtained from a questionnaire survey conducted from February to April 2005. The international e-commerce companies of various industries in Germany and all subsidiaries or headquarters of foreign e-commerce companies based in Germany were included in the survey. 118 out of 801 companies responded to the questionnaire. For structural equation modelling (SEM), the Partial-Least. Squares (PLS) approach in the version PLS-Graph 3.0 was applied (Chin 1998a; 2001). All of four research hypotheses were supported by result of data analysis. The results show that companies engaged in international e-commerce standardize in particular brand name, web page design, product positioning, and the product program to a high degree. The companies intend to intensify their efforts for marketing mix standardization in the future. In addition they want to standardize their marketing processes also to a higher degree, especially within the range of information systems, corporate language and online marketing control procedures. In this study, marketing standardization exerts a positive overall impact on company performance in international e-commerce. Standardization of marketing mix exerts a stronger positive impact on the non-economic success than standardization of marketing processes, which in turn contributes slightly stronger to the economic success. Furthermore, our findings give clear support to the assumption that the non-economic success is highly relevant to the economic success of the firm in international e-commerce. The empirical findings indicate that marketing standardization is relevant to the companies' success in international e-commerce. But marketing mix and marketing process standardization contribute to the firms' economic and non-economic success in different ways. The findings indicate that companies do standardize numerous elements of their marketing mix on the Internet. This practice is in part contrary to the popular concept of a "differentiated standardization" which argues that some elements of the marketing mix should be adapted locally and others should be standardized internationally. Furthermore, the findings suggest that the overall standardization of marketing -rather than the standardization of one particular marketing mix element - is what brings about a positive overall impact on success.

• Korean Business Review
• /
• v.21 no.1
• /
• pp.91-117
• /
• 2008

Since the late 20th century, due to the globalization of markets and the rapid developments of information and communication technologies, the world has entered into the age of fierce competition. With their abundant low-cost labor, former communist countries such as China, Russia and East Europe and former low-developed countries such as India and Brazil have received foreign investments from major industrial companies. Thus, there are no other alternatives remained for Korea and OECD countries other than moving the industrial economies to the knowledge based innovation systems. In the knowledge based innovation systems, economic developments and employments of regions and nations depend solely on companies situated in their territories. In this article, after reviewing the current state of technological based innovation small firms in korea, we provide a theoretical framework to promote the level of technology based innovation and entrepreneurship. The theoretical framework for analysis and policy suggestions is based on the Schumpeter's value system model that consist of supply factors, demand factors, and supporting institutions. In order to create more innovative small businesses, we insist on the followings. First, more R&D and innovation activities related with promising new technologies should be performed. Second, more R&D funds for technological innovation small companies should be provided from governments. Third, more M&A transactions and technology transactions should be marketed freely and competitively. Fourth, more business incubating services and venture capital services should be provided. Fifth, entrepreneurship and innovation culture should be popular and institutionized among people.