• International Commerce and Information Review
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• v.7 no.4
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• pp.325-349
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• 2005

One aspect of the globalization of the financial market after the 1980s is represented by the concurrent monetarization of the national stock markets. As the IR activity is regarded as a new financial productivity measure, the IR activity in the stock market is being emphasized domestically and internationally. This study analyzes domestic IR activities and compares them with foreign IR activities. Specifically the "road show", a typical IR activity, which is known to resolve the information asymmetry between the firm and the investors is analyzed to see the extent of the their value increase impact on the firm. The study employs domestic and international firms that publicly announced "road shows" after April 2004. Event studies are done to see the existence of abnormal return after the public announcement of road shows. Domestic firms were found to have positive IR impacts on the stock prices, but international firms were found to have negative IR impacts on the stock prices. Also it was found that international public announcement of the road show have stronger positive impact on the stock price than domestic public announcement. The investigation of the statistically significant difference of CAR before and after the fair public announcement enforcement rule showed that the positive CAR impact is strengthened after the adoption of the rule. The conclusion is that increase of the firm value after the road show implies that the information asymmetry is reduced by the active IR actions on the firm side. The policy implication is that we have to reassure the understanding of the role of the IR activities. Specifically Korean firms may have to encourage IR activities to share the information of the firms with the investors, which may result in the trustworthy relationship between the firms and investors.

• Journal of Technology Innovation
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• v.18 no.1
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• pp.1-20
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• 2010

Firm’s social network has been known as an important firm strategy because it could promote technological innovation and also minimize economic uncertainty. In this study, we identify four types of firm’s social network activities such as Collaboration, Manufacturing/Marketing/Distribution Agreements, Financing, and M&A, and analyze how these activities affect firm performance using U.S biotechnology firm data. We found that Manufacturing/Marketing/Distribution Agreements increased firm performance in short-run. Also, collaboration with pharmaceutical and biotechnology firms had a positive effect on firm performance, too. However, collaboration with public institutes or universities had a negative effect on firm performance in short run, which implies its collaboration would be mainly focused on research in pure science area. These empirical results provide two policy implications. First, social network strategy should be encouraged in the Korean biotechnology industry. Secondly, governments should consider developing polices that support collaboration of biotechnology with public institutes or universities, to promote technological innovation.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.8
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• pp.487-496
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• 2021

This study examines the environmental performance of firms in Vietnam and its determinants. The contribution of the paper is on both theoretical and empirical aspects. On the theoretical matter, the research proposes a new index measuring environmental management at the firm level, namely the Environmental Management Index with a clear illustration for the case of Vietnam. On the empirical matter, the study points out and estimates determinants of the corporate environmental performance of Vietnamese firms measured by the newly proposed index. Due to data availability and the impossibility of getting more updated data, the empirical analysis covers only the period from 2004-2009. However, findings are still meaningful because, on the one hand, it provides some evidence for Vietnamese policymakers; on the other hand, with the robust methodology proposed, when more recent data are available, researchers can easily replicate the estimation for more insights. Empirical results show that factors having positive impacts on the environmental performance of Vietnamese firms are profit, capital stock, and interestingly public pressure proxied by the population of the province where the firm is located. Firm ownership does also matter in explaining the corporate environmental performance of Vietnam.

• Structural Engineering and Mechanics
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• v.76 no.3
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• pp.395-412
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• 2020

In this article, the values of internal force and deformation of a curved beam under any action with the firm or elastic supports are determined by using structural matrices. The article presents the general differential formulation of a curved beam in global coordinates, which is solved in an orderly manner using simple integrals, thus obtaining the transfer matrix expression. The matrix expression of rigidity is obtained through reordering operations on the transfer notation. The support conditions, firm or elastic, provide twelve equations. The objective of this article is the construction of the algebraic system of order twenty-four, twelve transfer equations and twelve support equations, which relates the values of internal force and deformation associated with the two ends of the directrix of the curved beam. This final algebraic system, expressed in matrix form, is divided into two subsystems: twelve algebraic equations of internal force and twelve algebraic equations of deformation. The internal force and deformation values for any point in the curved beam directrix are determined from these values in the initial position. The five examples presented show how to apply the matrix procedures developed in this article, whether they are curved beams with the firm or elastic support.

• Proceedings of the Safety Management and Science Conference
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• 2010.04a
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• pp.149-159
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• 2010

본 연구에서는 장애인기업이 공공조달시장 진입을 통해 성장할 수 있는 기반 마련하고 장애인기업의 판로지원을 위해 공공기관의 장애인기업 생산물품 구매 활성화 방안 모색하여 공공기관의 장애인기업 생산품 구매촉진 방안 및 정책 제언을 제시하는 것을 그 목표로 하고 있다.

• Knowledge Management Research
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• v.23 no.3
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• pp.89-109
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• 2022

Many companies are trying to enter into overseas markets to overcome the limited size of domestic markets. However, there are many barriers to enter the overseas markets such as difficulty to find buyers and make contract with them, payment risks, unfriendly foreign policies, and etc. Companies have used to various strategies to get opportunities of overseas markets. One of them is UN public procurement. Despite many advantages, limited number of companies are participating in the procurement. Individual governments are providing policies to support local companies to participate in the UN public procurement. However it is not easy to encourage firms, especially SMEs to participate in the procurement. This study is designed to analyze firm and product determinants of participating in UN public procurement. Based on literature reviews and empirical findings, this study shows social responsibility and global orientation can play an important role regarding the participation. In addition, the positive relationship between UN public procurement participation and sustainability in a given firm could be empirically supported. Last, we suggest combining country- and industry-level data to investigate UN public procurement participation as an interesting topic for future research. This study represents various determinants to encourage UN public procurement participation. They may contribute to enhance firm performance such as sustainability.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.11 no.5
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• pp.1829-1837
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• 2010

During the last year, public expenditures which provided the central and local governments for boosting research and development (R&D) activities of the private sector has been constantly increasing. 17 percent of public total R&D expenditure supported to private sector and 9 percent of R&D expenditure in service sector were public R&D funding. However, studies evaluating the impact of public R&D subsidies are quite few. The aim of this study empirically investigate the average effects of public R&D subsidies on the innovation activities in private sector, specifically those engaged in Korean service firms by using Propensity Score Matching(PSM) method. The effect of R&D subsidies is derived from either qualitative and quantitative outcomes of innovation activities, which is defined as the difference between innovation outcome of the treatment group (receiving R&D subsidies) and that of the control group (non receiving R&D subsidies) after the matching method. As a result of empirical analysis, government R&D grants stimulate only firm-first innovation outcomes in service firms. It is represent that public R&D subsidies cannot be contributed to level of national innovation and the total amount of national innovation activities but can enhance firm competitiveness from increasing firm-first innovation activities.

• The Journal of Society for e-Business Studies
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• v.3 no.2
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• pp.73-93
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• 1998

CALS has been a hot issue in the industry related to the information technology in order to achieve the strategic competitive advantage, especially in the field of logistics and manufacturing firms. Nonetheless, while there is an abundance of literature advocating the strategic role of the concept in the field of logistics and manufacturing firms, little attention has been given to the planning process to be applied to public administration sectors. This research conducts a case study on Firm C, which is one of the government institutes, investigating its planning processes for which CALS concept should be applied. Based on the analysis of the document and interviews with the author, by applying information system planning and value chain models, this paper concludes that CALS concept can be successfully applied to the public administration sectors likewise industry sectors.

• STI Policy Review
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• v.1 no.2
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• pp.69-88
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• 2010

This paper explores the determinants of the innovation impact of publicly funded R&D projects along three broad dimensions, namely project, firm and market-related factors. In addition to these factors we examine the attributes of the research result per se and aspects of the commercialization process. The observations from empirical and qualitative analyses are based on R&D projects funded by the Fifth and Sixth Research Framework Programmes of the European Union. Firm size, prior experience, innovation culture, the nature of the project itself, explicit intension to commercialize, consortium management and strategy are the factors with the strongest effect on project success, defined in terms of product/process innovation and/or technical knowledge creation. The paper provides important implications for the organization, objectives, and management of public programmes that fund R&D and for project and participant selection.

• Management & Information Systems Review
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• v.27
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• pp.31-52
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• 2008

Intangible Assets are more important determinants of firm value than others in a digital information-based economy(Lev, 2001). Prior research reveals that investments in intangible assets such as R&D and advertising expenditures are associated with firm value. This paper examines the effects of the corporate investments in the information technologies(IT) on stock return and economic goodwill. The sample consists of 152 firms listed on the Korean stock market in 2002. To test hypothesis We employed multiple regression models. Results are as follows; First, IT environment, IT process, and IT human resource are positively associated with firm's IT value. Second, firm's IT value is positively correlated with firm's economic goodwill. Third, firm's IT value is positively correlated with firm's stock return. These results suggest that the investments related with IT are effective in cultivating firm's value and Stock investors can make the best use of firm's announcements related with IT value. Thus the authorities concerned need to expand the public announcements related IT value.