• Journal of Korea Trade
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• v.23 no.6
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• pp.145-158
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• 2019

Purpose - Alliance members have constantly revised market strategies over time by withdrawing membership from a current alliance, joining another alliance, or constructing a new alliance. From the perspective of the signaling effect, the purpose of this study is to analyze the impacts of partner volatility (new member, old member, and new group) on firm value. Design/methodology - To analyze the impact of partner volatility on firm value, companies in strategic alliances are classified into the three groups of new partner, existing partner, and new alliance, and the effects on company value are verified through an event study and the signaling effect analysis. Findings - This study proved that new partners and newly formed strategic alliances have higher expectation effects than old partner company groups, and have a more positive effect on the relevant firms' stock prices. In addition, the result of the study showed the same valid results as the alliance levels, and showed that investors' expectations were higher with new partners and new alliances than with old partners. Research Implications - A new perspective on the signaling effects of strategic alliances among shipping lines was presented in this study by grouping alliance types including new member, old member, and new group. The results provide useful insights for selecting partners and firm values of alliance announcement times. Originality/value - This study analyzed partner volatility on relevant companies' stock prices from the perspective of investors from the global shipping conference reorganization in 2017. Strategic alliances were classified into the three categories of new partner, old partner, and new alliance, and the effects on firm value were verified.

• Management & Information Systems Review
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• v.32 no.2
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• pp.213-235
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• 2013

This study investigates proper solution available for flexibly management pointing out reality a lack of understanding and interest for executing security management while importance of firm security management gets bigger. Accordingly, this study suggests 4 exogenous variables such as organizational commitment, experience of security risks, perceived benefits, partner interdependence as factors of having influence upon development and implementation in security management. It suggests IT volatility as moderating variable, which will intensify between development and implementation. The research model was tested by using Structural Equation Modeling, via Amos 19.0 analysis on a sample collected from 209 firms. As a result, the remaining variables except partner interdependence showed statistically positive influence. The implications of the findings suggest a new theoretical framework of the security management and offers important solutions for the practical application guidelines.

• Korean Business Review
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• v.14
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• pp.45-62
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• 2001

This study examines the factors that affect longevity of strategic alliances, highlighting environmental volatility, nationality, and previous experience with strategic alliances. In general, successful strategic alliances are more likely to continue to exist than unsuccessful ones. Therefore, it is argued that studying on factors affecting the continuance of strategic alliances indirectly confirms the factors of success and failure in strategic alliances. In order to conduct this study, the needed data were collected from CATI(Cooperative Agreements and Technology Indicators) Data Base, which was gathered by a group of researchers in the University of Limburg in the Netherlands. Cox's Regression was used to analyze the data. Implications for research and practice are discussed.

• The Journal of Asian Finance, Economics and Business
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• v.2 no.3
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• pp.17-22
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• 2015

This paper examines the effect of impulsiveness of euro on Indian stock market. In order to examine the problem, we select rupee-euro exchange rates and S&P CNX NIFTY and BSE30 SENSEX to represent stock price. We select euro as it considered as second most widely used currency at the international level after dollar. The data are collected a daily basis over a period of 3-Apr-2007 to 30-Mar-2012. The statistical and time series properties of each and every variable have examined using the conventional unit root such as ADF and PP test. Adopting a generalized autoregressive conditional heteroskedasticity (GARCH) and exponential GARCH (EGARCH) model, the study suggests a negative relationship between exchange rate and stock prices in India. Even though India is a major trade partner of European Union, the study couldn't find any significant statistical effect of fluctuations in Euro-rupee exchange rates on stock prices. The study also reveals that shocks to exchange rate have symmetric effect on stock prices and exchange rate fluctuations have permanent effects on stock price volatility in India.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.21 no.9
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• pp.301-309
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• 2020

Defense exports have overgrown in a short period, and items have been diversified with advanced high-end equipment, but exports have been stagnant due to the global economic recession and fierce competition. Weapons importers in the global market are diversified, volatility is higher, and global defense companies are also expanding their global value chain (GVC) By participating in the GVC of a global defense company, the defense SME can grow into a competitive company with specialized technology, rather than participating as a partner of a domestic system company. It is time to prepare an export promotion support plan. In this study, we selected five global companies with high value for the implementation of offset and general considerations on domestic SMEs' entry into the international parts supply chain and related cases, and investigated GVC entry requirements, the current status of cooperation partners, and the perceptions of GVC entry, through local surveys in Korea and overseas. Also, by considering the export target comprehensively, GVC stage, and the level of export competitiveness of domestic SMEs, strategies for promoting GVC participation of defense SMEs and improvements in government policies were derived and presented.