• Asia Pacific Journal of Business Review
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• v.1 no.2
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• pp.17-35
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• 2017

This research is a case study that focuses on how conglomerate illegality and corresponding penalty affects corporate performance and strategy. The research aims to provide base information for policy-makers as well as the general public about the corporate environment. The analysis results can be summarized as follows. First, profitability is represented as an M-curve. Profitability falls from indictment to the final pronouncement of the corporate head and increases upon his or her return. The result suggests that the absence of a corporate head could result in low profitability as the firm is exposed to owner risk. Secondly, significant effects on investment were not found. Investment showed a continuous increase from indictment to final judgment. This could have resulted from investment decisions made prior to the indictment, which are generally long-term. Meanwhile, the rate at which investments rose for core subsidiaries were lower, which makes it reasonable to suspect dwindling executive capacity due to the absence of a corporate head. Thirdly, employment showed a slight increase, but the rate was found to be greater during the periods following the final judgment. From a political perspective, this increase can be inferred from a give-and-take tradeoff between corporate employment and the pardon of the corporate head.

• Asian Journal of Innovation and Policy
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• v.7 no.3
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• pp.564-580
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• 2018

The creation of academic start-up firms is an important and practical issue in the management of technology in Japan. The present study designs a model for creating academic start-up firms that fits into the social context. It focuses on the case of FIRST Program, an initiative that consists of 30 projects in innovative arenas, analyses the presence of large-scale public funding, and investigates the role of venture capitalists as support personnel in each project. As a result, the presence and significance of 'long-term escort' by an 'entrepreneurial venture capitalist (EP-VCist)' were confirmed as common features across the cases observed. EP-VCist refers to a person who can maintain and fulfil dual roles at a university and a venture capital firm, and who can take the lead throughout the venturing process as a risk taker. 'Long-term escort' is a form of support that reduces risks in the venturing process by supporting university researchers in the pre-entrepreneurial stage and by exerting a robust bridging role between a university and an industry.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.4
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• pp.105-112
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• 2021

This study aims to find empirical evidence of the effect of increasing income on the potential transfer of wealth from manufacturing companies that go public to stakeholders. Earnings management with an accrual approach with the Modified Jones model is an identifier of the availability of earnings management practices, without paying attention to both positive and negative symbols. The interpretation of the results of the discretionary accrual measurement between positive and negative symbols has different meanings. Positive discretionary accruals indicate that management uses income-increasing techniques. Meanwhile, negative discretionary accruals indicate that management uses income-reducing techniques. Income-increasing techniques tend to be viewed as opportunistic behavior of managers. This study used 111 data from manufacturing companies listed on the IDX (Indonesia Stock Exchange) from 2015-2018. Path analysis is used to test the hypothesis. The results of this study are in line with the point of view of management strategy, increasing income is used as a way to transfer potential welfare from the company to stakeholders. Social welfare (tax) and managerial remuneration are proven to be mediators in increasing the effect of increasing income on future company value. Further research can complete the potential welfare transfer against the shareholders related to income-increasing strategy.

• Journal of the Korean Academic Society of Industrial Cluster
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• v.1 no.1
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• pp.16-28
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• 2007

This paper analyzes the effects of networking and competition on individual companies' R&D investment, focusing on pharmaceuticals, PCB (Printed Circuit Board), and auto parts sectors. Data were obtained through a survey on firms operating in Seoul, Incheon, and Gyung-gi metropolitan area. The estimation results suggest the networking with other actors in the clusters tends to increase R&D investments of individual firm's. But competition in a cluster tend to reduce individual firm's R&D investment. These results suggest the public policy promoting networking in a cluster could induce private firms' R&D investments and, therefore, should be maintained.

• Journal of Technology Innovation
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• v.24 no.2
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• pp.143-175
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• 2016

In this study, we have analyzed the impact of firm, innovation and industry characteristics on firm's appropriation strategy focusing of the relative preference of patents and trade secrets by using the Korea Corporate Innovation Survey 2005, 2010 and 2014 data. According to the analysis results, companies with characteristics such as venture, high-technology industry, receipt of public R&D subsidies, performing product innovation, high R&D expenditure, prefer patents to trade secrets relatively. However, firm size and R&D cooperation did not have a statistically significant effect on the relative preference. This shows that policy on appropriation system considering the industry characteristics may be more effective. Companies in the industries with a high market concentration showed that trade secrets are preferred, especially these characteristic was distinctly in small and venture companies. This means that the increase in strategic patent applications of the incumbent firms is able to restrict the patent activities in small and venture companies. Because the excessive increase in strategic patents is likely to constrain the innovation activities of small and venture firms ultimately, policy initiatives to limit the abuse of strategic patent applications is required.

• Journal of the Economic Geographical Society of Korea
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• v.18 no.4
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• pp.505-521
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• 2015

Using small and medium sized firms located on 3th seongseo industry complex in Daegu, this study investigated the effects of technology development factors on innovation performance, and suggested the implications in terms of technology policies. Technology development factors are categorized into both fundamental based factors and external cooperation based factors as independent variables. According to the research results, external cooperation based factor positively affects innovation performance, and this positive effect is reported in firms having more than average firm size. Under environment uncertainty, external cooperation based factor plays a key role to increase innovation performance to firms having more than average firm size. Therefore, policy making should be focused on external cooperation, not on fundamental base such as people and infrastructure, and also dissimilar policy suggestion based firm size is needed to be considered.

• Journal of Korea Technology Innovation Society
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• v.13 no.2
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• pp.332-364
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• 2010

External linkages affect the performance of small and medium enterprises in diverse ways. This study delves into the impact of inter-organizational collaboration by looking at different facets of performance, such as innovation, sales growth, profit growth, and firm survival. In addition, it explores the influence of informal knowledge spillover from collaborative partners as well as from formal collaborations. The impact is carefully investigated by dividing firm samples into three different sectoral innovation categories: supplier-dominant, production-intensive, and science-based sector suggested by Pavitt (1984). The result highlights the different influence pattern of collaborative relations by partner types according to sectoral categories. The positive results of collaborating with universities and public institutions are identified, and the sales growth by customer linkage is witnessed. The impact is apparent in science-based sectors. The result implies that the risk associated with collaborating with competitors may be moderated by linking performance enhancing collaborative linkages with universities and government institutes.

• Journal of Distribution Science
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• v.1 no.1
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• pp.1-24
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• 1999

CALS/EC is about doing business electronically. It is based on the electronic processing and transmission of data, including text, sound and video. It encompasses many diverse activities including electronic trading of goods and services, online delivery of digital content, electronic fund transfers, electronic share trading, electronic bills of lading, commercial auctions, collaborative design and engineering, online sourcing, public procuremet, direct consumer marketing, and after-sales service. It involves both products(e.g. consumer goods, specialised medical equipment) and services(e.g. information services, financial and legal services); traditional activities(e.g. healthcare, education) and new activities (e.g. virtual malls). CALS/EC will be emerging to replace and substitute the role of the conventional market. By changing and eliminating some processes of the transactions, the electronic market and the electronic commerce will redistribute the power and hence the benefits of the market activities. Traditional way of doing business may enter into the new electronic market because the role and function of trust and established reputation will be reinforced in the electronic market. The CALS/EC through the Internet has been in the spotlight in the shopping behavior of the consumers. Accordingly Corporates are trying to adapt themselves to those rapidly changing environments being affected by the Internet. Among others, particularly to be noted is the CALS/EC between corporations and consumers whose potential growth can be considered very substantial. This report, focusing on the introduction of CALS/EC for the logistics of SMEs, will allow us to prepare more efficiently for the coming 21st Century. It is obvious that CALS/EC is fast becoming the useful way of exchanging not only information but products in business between firm-to-firm and firm-to-customer.

• Journal of Digital Convergence
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• v.14 no.12
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• pp.111-120
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• 2016

PCAOB conducts the direct supervision for the PCAOB registered accounting firm. Therefore, if an accounting firm is registered with the PCAOB, it will thoroughly manage for their quality management systems. The registered auditor can be expected to have better quality of the audit. This study carried out the analysis using the audit fee which proxies for audit quality. The results of analysis are as follows. After controlling for foreign accounting firms affiliated status, company size, risky assets, leverage, ROA, and market-related variables, PCAOB is a significant explanatory variable for the audit fees. The results of this study support the hypothesis that PCAOB-registered auditors will provide a good audit quality.

• International Commerce and Information Review
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• v.1 no.1
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• pp.179-201
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• 1999

CALS/EC is about doing business electronically. It is based on the electronic processing and transmission of data, including text, sound and video. It encompasses many diverse activities including electronic trading of goods and services, online delivery of digital content, electronic fund transfers, electronic share trading, electronic bills of lading, commercial auctions, collaborative design and engineering, online sourcing, public procuremet, direct consumer marketing, and after-sales service. It involves both products(e.g. consumer goods, specialised medical equipment) and services(e.g. information services, financial and legal services); traditional activities(e.g. healthcare, education) and new activities (e.g. virtual malls). CALS/EC will be emerging to replace and substitute the role of the conventional market. By changing and eliminating some processes of the transactions, the electronic market and the electronic commerce will redistribute the power and hence the benefits of the market activities. Traditional way of doing business may enter into the new electronic market because the role and function of trust and established reputation will be reinforced in the electronic market. The CALS/EC through the Internet has been in the spotlight in the shopping behavior of the consumers. Accordingly Corporates are trying to adapt themselves to those rapidly changing environments being affected by the Internet. Among others, particularly to be noted is the CALS/EC between corporations and consumers whose potential growth can be considered very substantial. This report, focusing on the introduction of CALS/EC for the logistics of SMEs, will allow us to prepare more efficiently for the coming 21st Century. It is obvious that CALS/EC is fast becoming the useful way of exchanging not only information but products in business between firm-to-firm and firm-to-customer.