• Journal of Korea Trade
• /
• v.26 no.4
• /
• pp.63-82
• /
• 2022

Purpose - Drawing on relational institutional theory, we explored how demographic similarity between board members of a firm and newly emerged political elites led to firms' increased financial resource acquisition such as leverage ratio and decreased export intensity amidst the Asian financial crisis. We also studied how a firm's leverage ratio and export intensity can further affect firm profitability and financial credit rating. Design/methodology - We revisited and explored a unique, unprecedented crisis that affected most Korean firms: the Asian financial crisis that coincided with a governmental shift from a conservative to a liberal party. We collected demographic information from 432 listed Korean firms' board members and 43 political elites of the Blue House from 1998-2000 to create a demographic similarity measurement. We collected firms' financial information, built panel data, and used ordinary least squares regression to test our theory. Findings - Our results showed that demographic similarity between a firm's directors and newly emerged politicians had a positive association with a firm's leverage ratio but a negative association with a firm's export intensity. A firm's leverage ratio had a negative relationship with firm performance measured by firm profitability and financial credit rating. A firm's export intensity showed a positive effect on firm performance. Originality/value - We highlighted that during an economic crisis that coincided with a governmental shift and change of leading political actors, firms exerted efforts to survey the environment and build new external stakeholder relationships to cope with the changing landscape. We proposed that in an emerging market like Korea where low levels of trust and favoritism are prevalent across society, one of the relational institutional strategies that firms can employ is the selection of directors with similar demographic characteristics to political elites based on factors including birthplace and school affiliations. We examined the efforts of firms to build political networks with newly empowered political elites during a financial crisis, and the consequences of establishing such networks. We highlighted that during a financial crisis, the demographic similarity between a firm's board members and newly emerged politicians can provide firms with access to financial resources but can also result in poor management and reduced effort to enhance its international competitiveness.

• Asia-Pacific Journal of Business
• /
• v.13 no.4
• /
• pp.91-107
• /
• 2022

Purpose - This study quantitatively examines the level of financial inclusion of a microfinance institution in each region and how this is changing recently, and examines the level of financial inclusion by region and various financial characteristic factors related to it. It was empirically verified what kind of significant impact actually has on the institution's major management performance indicators (stability, profitability, efficiency, and public interest). Design/methodology/approach - It was confirmed that the institution's financial inclusion index declined rapidly after 2015 as a whole, although there were some differences by region depending on regional characteristics. However, considering the fact that the number of branches per 100,000 adult population is steadily increasing nationwide, it was found that, contrary to what is known, the simple decrease in the number of branches of the institution was not the main cause. Findings - The analysis results of this study show that the institution's efforts for financial inclusion have a positive impact on profitability, stability, efficiency, and public interest, and that the institution pursues profitability, efficiency, stability, and public interest. showed that some trade-offs exist. In other words, overall, it was analyzed that profitability of the institution has a positive effect on efficiency, and efficiency has a positive effect on stability and public interest. Research implications or Originality - Since the institution's efforts to improve its profitability do not have a negative impact on its stability and public interest, it is judged that it is important to take a strategic stance, so excessive loan supply that exceeds the scope of the institution's own control needs to be avoided as much as possible. More detailed financial supply strategies and business management capabilities that enhance the asset soundness and management efficiency of safes need to be demonstrated.

• Convergence Security Journal
• /
• v.22 no.4
• /
• pp.75-84
• /
• 2022

In the 4th industry, drones are being used while having a close relationship with our lives. The development and use of various drones suggests a new paradigm for the domestic industry in the future, and is expected to become more advanced and scientific. Meanwhile, in the field of defense, efforts are being made in various ways to overcome the social phenomenon of reduced service resources. It is concentrating its efforts on strengthening the national defense power by preparing an exit strategy to supplement the shortage of service resources and to maintain and improve combat power, and by combining various science and technology related to the 4th industry. The military is planning to reinforce its combat power in connection with future industries to effectively respond and perform missions in preparation for the future combat aspects that have been researched and planned, and is planning an unmanned combat system for the science and technology army by investing a separate budget. Therefore, we systematically introduce and utilize drones, which are the core of the unmanned combat system, to create more active combat power and seek countermeasures for the battle vacuum, It is expected to provide a new paradigm for the battlefield when using advanced technology developed in the private sector and grafting it to the military sector.

• Journal of Technology Innovation
• /
• v.25 no.4
• /
• pp.107-143
• /
• 2017

This study aims to understand the impact of internal and external environments and innovation efforts on a company's performance. First, the relationships and patterns between variables were determined through an exploratory factor analysis. Afterwards, a cluster analysis was conducted, in which the influential factors summarized in the factor analysis were classified. Finally, structural equation modeling was used to carry out an empirical analysis of the structural relationship between innovation efforts and the company's performance in the classified clusters. 7 factors were derived from the exploratory factor analysis of 40 input variables from external and internal environments. 4 clusters (n=1,022) were formed based on the 7 factors. Empirical analysis of the 4 clusters using structural equation modelling showed the following: Only independent technology development had a positive impact on the company's performance for Cluster 1, which is characterized by sensitivity to a technological/competitive environment and innovativeness. Only independent technology development and joint research had positive impacts on the company's performance for Cluster 2, which is characterized by sensitivity to a market environment and internal orientation. Joint research and the mediating variable of government support program utilization had positive impacts, while the introduction of technology had a negative impact on the company's performance for Cluster 3, which is characterized by sensitivity to a competitive environment, innovativeness, and willingness to cooperate with the government and related institutions. Independent technology development as well as the mediating variables of network utilization and government support program utilization had positive impacts on the company's performance for Cluster 4, which is characterized by openness and external cooperation.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.12 no.1
• /
• pp.73-85
• /
• 2017

The purpose of this study is to investigate the effect of career uncertainty and career education on entrepreneurship and entrepreneurial intention of potential entrepreneur in Korea. A total number of 381 potential entrepreneurs responded to the questionnaire. The collected data were analyzed by SPSS Statistics 22. The results of the empirical analysis are as follows: First, career uncertainty did not have a significant effect on entrepreneurial intention. Second, career uncertainty had a negative(-) effect on entrepreneurship. Third, career education had a negative(-) effect on entrepreneurial intention. Fourth, career education did not have a significant effect on entrepreneurship. Fifth, career uncertainty had a negative(-) effect on self-determination. Sixth, self-determinism was found to fully mediate the relationship between career uncertainty and entrepreneurial intention. Seventh, self-determination was found to fully mediate the relationship between career uncertainty and entrepreneurship. Based on these results, it is necessary to expand and strengthen the scope of career education of students by lowering the uncertainty of career and reinforcement of intrinsic motivation through self-determination in order to improve student's entrepreneurship and entrepreneurial intention. At the same time, institutional efforts to include entrepreneurship education in career education should be concurrently accompanied by efforts to improve self-determination of potential entrepreneurs.

• International Commerce and Information Review
• /
• v.19 no.4
• /
• pp.147-174
• /
• 2017

Korean companies currently operating in China have made active efforts to undertake corporate social responsibility activities and corporate advertising to improve their image, as well as marketing activities directly related to their products. In this context, this study aims to analyze how corporate social responsibility activities and corporate advertising influence a company's image from the perspective of Chinese consumers. This study also analyzes corporate image, consumer-company identification, and the structural relationship between the consumers' behavioral responses and their evaluation of Korean products. Based on theoretical discussions and previous studies, the study tests five research hypotheses for the development of a theoretical research model. In order to empirically test the research model, data were collected by enlisting and observing MBA students from major universities in China. The results obtained by actual analysis are as follows. First, corporate social responsibility activities and corporate advertising were found to be positively influential on corporate image. Second, corporate image is positively influential on consumer-company identification. The consumer-company identification of Chinese consumers' evaluation of Korean products, and positive evaluation of Korean products in turn induce positive influences on Chinese consumers' behavioral responses. These results suggest that the Korean companies already established in China not only need to enhance a positive corporate image but also have to make efforts to undertake corporate social responsibility activities and corporate advertising activities in order to improve their continuous and long-term relationship with Chinese consumers.

• Korean Journal of Social Welfare
• /
• v.59 no.2
• /
• pp.303-325
• /
• 2007

This study explores the relationship between marketing activities and brand equity in nonprofit organizations, specifically investigating the relational linkage between four selected marketing mix elements and brand equity through the mediating role of brand equity dimensions. Employing a structural equation model, the study empirically tests research hypotheses and finds some important implication for brand equity creation strategies for nonprofits. The results show that brand association is the only dimension that is positively related to brand equity, reflecting the current donation market in Korea where nonprofits have such a low presence that donors have little knowledge and chance to identify their brands and to build trust relationships with them. Furthermore, the results highlight the importance and roles of promotion and process marketing efforts, as they are proved to enhance brand association. The study also finds that promotion is positively related to brand awareness and process contributes to perceived quality and brand loyalty. Based on these findings, the study suggest that nonprofits make further efforts on active promotion and process development to create positive, differentiated images and better accessibility, and finally improve their brand equity.

• Journal of Digital Convergence
• /
• v.16 no.10
• /
• pp.155-167
• /
• 2018

This study was designed to provide implications for related policies by researching the impact on business management performances focusing on the activities within the innovation clusters based on small and medium venture companies in Daejeon area. The questionnaires from 212 CEOs of small and medium venture businesses in Daejeon were analyzed and verified the research hypothesis using SPSS 21. From the empirical analysis, we confirmed the following results; activity of information exchange, information acquisition and solving activity between demand and supplier showed positive effects on business management performance, however the concern and relationship have no effects on business management performance. From this study, we suggest that the active participation in activity of innovation cluster and various supporting systems or policies have to expand for sustainable growth and development of companies within innovation cluster. We also propose that companies needs to try to more efforts on enhance the mutual satisfaction or forming a consensus for cooperation. This study also propose the implications that the companies, innovation cluster must try on efforts to improve relation among members for enhancing the lack of concerns and relationship.

• Korea Journal of Hospital Management
• /
• v.12 no.3
• /
• pp.47-67
• /
• 2007

This paper aims at suggesting several ways lo change financial vulnerability and to improve managerial capability of local public hospitals (LPHs) in Korea through the identification of factors affecting profitability. Several findings of the research are as follows: To begin with, LPHs exhibited a statistically significant difference in their profitability from one another, according to tile analyses of their profitable margins from tile general characteristics. It depends on the number of hospitals in the area, the population of the hospital-built area, the number of competing hospitals, the number of staff per 100 beds, the opening of special clinic, the educational function, and the capacity of rooms. However, there was no variable in the managerial characteristics, presenting a significant difference, in contrast with hospitals which have been managed by private companies and made a great amount of profits. Second, according to the analyses of profit differences in behavioral effort-characteristics, a statistically significant difference was revealed upon the basis of the efforts to improve the clinic service, invite special patients, and shorten the period of being hospitalized. Third, the result of analyses about the difference of profitability from medical care and finance is statistically significant in the rate of labor cost, the rate of management cost, bed-occupancy rate, and the period of being hospitalized. Fourth, according to the analyses of the factors influencing the net profit ratio of the entire capital, Adjusted explanatory power(Adjusted $R^2$) was shown up to 65.2%, which is high. To compare the adjusted explanatory power stage by stage, the first stage model applying only two variables such as structural and strategic characteristics exhibited 23.8%, and the second stage model adding financial characteristics showed 51.5%. The explanatory power was much improved up to 65.2% when the third stage model incorporated the outcome of medical care performance. When the return on investment(ROI) was examined by using the multi-variate linear regression analysis at the final model of third stage, it was found that ROI had a positive relationship with the increase rate of patients, labor costs per doctor, and medical care rate of socially protected inpatients. However, it revealed that ROI had a negative relationship with the ratio of labor costs, the number of patients per managerial staff, and occupancy rate of rooms, respectively. The research suggests that in order for LPHs to increase profitability, LPH, should make efforts not only to attract patients to the hospitals without any discrimination of the patients depending on their financial status, but also to develop efficient management methods to reduce labor costs.

• Journal of the Korean Applied Science and Technology
• /
• v.37 no.6
• /
• pp.1779-1789
• /
• 2020

This study aimed to determine if mindfulness interacted with stress and relieved the negative effect of stress on school life satisfaction among female college students. Research was conducted among 550 female students at four colleges in the capital area and Chungcheong-do and the data were collected in May 2019. ANOVA was carried out for the variation of the dependent variables based on the subjects' general characteristics. The hierarchical regression analysis was performed for the moderating effect of mindfulness. Stress and interpersonal relationship-related stress differed by school year, subjective economic status, and subjective health status. Mindfulness differed by subjective economic status and subjective health status. School life satisfaction differed by school year, subjective economic status, and subjective health status. Mindfulness had moderating effect on the association between stress and school life satisfaction, as well as on the association between interpersonal relationship-related stress and school life satisfaction. In conclusion, efforts should be made to relieve stress regarding the level mindfulness, with the objective of making female college students more satisfied with their school life. These efforts are expected to be more effective by grouping the subjects, taking into account such characteristics as school year, economic status, and health status.