• Journal of Korea Port Economic Association
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• v.40 no.2
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• pp.65-78
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• 2024

This study investigates the correlation between financial constraints and investment activities in Korean logistics firms. A sample of 340 companies engaged in the transportation sector, as per the 2021 KSIC, was selected for analysis. Financial data obtained from the DART were used to compile a panel dataset spanning from 1996 to 2021, totaling 6,155 observations. The research model was validated, and tests for heteroscedasticity and autocorrelation in the error terms were conducted considering the panel data structure. The relationship between investment activities in the previous period and current investment activities was analyzed using panel Generalized Method of Moments(GMM). The validation results of the research indicate that Korean logistics firms tend to increase investment activities as their level of financial constraints improves. Specifically, a positive relationship between the level of financial constraints and investment activities was consistently observed across all models. These findings suggest that investment decision-making varies based on the financial constraints faced by companies, aligning with previous research indicating that investment activities of constrained firms are subdued. Moreover, while the results from the model examining whether investment activities in the previous period affect current investment activities indicated an influence of investment activities from the previous period on current investment activities, the investment activities from two periods ago did not show a significant relationship with current investment activities. Among the control variables, firm size and cash flow variables exhibited positive relationships, while debt size and asset diversification variables showed negative relationships. Thus, larger firm size and smoother cash flows were associated with more proactive investment activities, while high debt levels and extensive asset diversification appeared to constrain investment activities in logistics companies. These results interpret that under financial constraints, internal funding sources such as cash flows exhibit positive relationships, whereas external capital sources such as debt demonstrate negative relationships, consistent with empirical findings from previous research.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.12 no.1
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• pp.33-46
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• 2017

In Korea, small and medium sized domestic enterprises (SMEs) play an pivotal role in the national economy, accounting for 99.8% of all enterprises, 87.9% of total employment, and 48.3% of production. and SMEs were driving a real force of the development of national economy in many respects such as innovation, job creation, industrial diversity, balanced regional development. Despite their crucial role in the national development, most of SMEs suffer from a lack of R&D capabilities and equipments as well as funding capacity. Government-Supported Research Institute (GRI) can provide SMEs with valuable supplementary technological knowledges and help them build technological capacities. so, In order to effectively support SMEs, government and GRI must be a priority to know about the factors influencing the performance related to technology transfer and technological collaborations. The paper analyzes the effects of Korean IT SMEs Venture external collaborations and technology transfer on their performances, according to their collaboration activities and technology transfer experiences. The results show that there was a significant difference between '3~5times' of technology transfer experience and 'zero technology transfer experience' in the case of technology transfer experience. In case of technological collaboration type, there was a significant difference between 'R&D manpower' and 'enhancement of technological capabilities including core technologies'. The results show that the effectiveness of technology transfer of Korean IT SMEs Venture depends on experiences, types of collaboration activities. so the results of this research will be useful for Government-Supported research institute (GRI)' policy makers when establishing technology commercialization support policies and strategic planning of small and medium sized domestic enterprises.

• Journal of Distribution Science
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• v.10 no.1
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• pp.5-10
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• 2012

Currently, the rewards programs offered by many companies to strengthen customer relationships have been working quite well. In addition, many companies' rewards programs, designed for stabilizing revenue, are recognized to be effective. However, these rewards programs are not significantly differentiated between companies and there are no accurate conclusions currently, which can be made about their effects. Because of this, a company with a customer rewards program may not comprehend the true level of active participation. In this environment some companies' rewards programs inadvertently hinder business profitability as a side effect while attempting to increase customer loyalty. In fact, airline and oil companies pass on the financial cost of their programs to the customer, and as a result, they have been criticized publicly. The result of this is that the corporations with bad rewards programs tend to get a bad image. In this study of stores' rewards programs, we centered our focus on the design of the program. The main problem in this study is to recognize the financial value of the rewards program and whether it can create a competitive edge for the companies despite the cost issues experienced by them. Customers receiving financial rewards for their business may be just as satisfied with a particular company or store versus those who are not, and the program, perhaps, does not form a distinctive competitive advantage. When the customer is deciding between competing companies to secure their product needs with, we wanted to figure out how much of an affect a valuable reward program had on their decision making. To evaluate this, we set the first hypothesis as, "based on the level of involvement of the customers, there is a difference between customers' preferences for rewards programs." In the results of Experiment 1 we saw that in a financial compensation program for high-involvement groups and low-involvement groups, significant differences appeared and Hypothesis 1 was partially supported. As for the second hypothesis that "customers will have different preferences between a financial rewards programs (SE) and a joint rewards programs (JE)," the analysis showed that the preference for JE was significantly higher than that for other programs. In addition, through Experiment 2, we were able to find meaningful results, which revealed that consumers have shown a significant difference in their preferences between SE and JE. The purpose of these experiments was to enable the designing of a rewards program by learning how to enhance service information distribution and strengthen customer relationships. From the results, there should be a great amount of value for future service-related endeavors and academic research programs. The research is significant, because the results can be found to have a positive effect on reward program designs however, it does have the following limitations. First, this study was performed using an experiment, and all experiments have limitations. Second, although there was an individual evaluation and a joint evaluation, setting a proper evaluation criteria was difficult. In this study, 1,000 Korean won (KRW) in the individual evaluation had a value of 2 points, and, in the joint evaluation, 1,000 KRW had a value of 1 point. There may have been alternative ways to differentiate the evaluations to obtain the proper results. In this study, since there was no funding, the experiments were performed orally however, this was complementary to the study. Third, the subjects who participated in this experiment were students. Conducting this study through experimentation was unavoidable for us, and future research should be conducted using an actual program with the target customers.

• Journal of the Korean Institute of Landscape Architecture
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• v.47 no.5
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• pp.78-90
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• 2019

The purpose of this study is to explore the direction of developing policies for parks and green spaces for inclusive urban planning and regeneration. By reviewing the status, budget, and laws pertaining to urban parks in Korea, as well as assessing the inclusivity of urban parks, this study revealed the problems and limitations in Korea as follows. First, the urban park system, which takes into account indicators such as park area per capita and green space ratio, is focused only on quantitative expansion. Second, the distribution of urban parks is unequal; hence, the higher the number of vulnerable residents, the lower the quality of urban parks and green spaces. Moreover, this study focused on the UK central government, along with the five local governments, including London, Edinburgh, Cardiff, Belfast, and Liverpool. Through an analysis of the contexts and contents establishing UK park and green space policies that can reduce socioeconomic inequalities while at the same time increase inclusiveness. This study discovered the following. The government's awareness of the necessity of tackling socioeconomic inequalities to make an inclusive society, the change in the urban regeneration policies from physical redevelopment to neighborhood renewal, and the survey and research on the correlation of parks and green spaces, inequality, health, and well-being provided the background for policy establishment. As a result, the creation of an inclusive society has been reflected in the stated goals of the UK's national plan and the strategies for park and green space supply and qualitative improvement. Deprived areas and vulnerable groups have been included in many local governments' park and green space policies. Also, tools for analyzing deficiencies in parks and methods for examining the qualitative evaluation of parks were developed. Besides, for the sustainability of each project, various funding programs have been set up, such as raising funds and fund-matching schemes. Different ways of supporting partnerships have been arranged, such as the establishment of collaborative bodies for government organizations, allowing for the participation of private organizations. The study results suggested five policy schemes, including conducting research on inequality and inclusiveness for parks and green spaces, developing strategies for improving the quality of park services, identifying tools for analyzing policy areas, developing park project models for urban regeneration, and building partnerships and establishing support systems.

• Journal of forensic and investigative science
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• v.1 no.1
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• pp.11-30
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• 2006

The preliminary investigative activities by the police officer play a critical role in identifying the cause of death in unnatural death investigations. The failure to secure the crime scene leads to the destruction of significant evidence, which results in the difficulty or impossibility to identify the cause of death. In order to prevent this jeopardizing crucial evidence, and to identify the level of preliminary investigation on the scene, this research is conducted and analyzed with questionnaires of 300 police first responders and 100 detectives. As a result, it was disclosed that there is a possibility for first responders to fail to ensure scene security, scene observation, and canvass interviews. Besides, when medical personnel have no choice but to contaminate the crime scene in order to save lives, it is necessary for them to take photos and to take proper actions before they enter the scene. The importance of scene-control education cannot be emphasized enough in order to prevent media from entering and destroying the evidence. Through research of actual conditions of unnatural death cases which occurred in Kyongbook Province for last five years, the statistics regarding a few different types of death were analyzed as follows. Evidence that homicide, suicide, accidental death, and disaster deaths have increased year by year. Therefore, it is deemed necessary for the government to take multilateral policies to reduce them, and for police to reinforce their investigative skills. Further, the insufficient number of autopsy facilities and forensic pathologists, only 13% of the deceased (1,237 cases) have had an autopsy conducted to identify the cause of death for last five years. The other, 87.3% (8,496 cases) of the deceased, were handled through simple postmortem examination. The significance of this percentage is that there is still the possibility not revealing the cause of unjust deaths. Therefore, it is necessary to furnish police agency with the reasonable amount of funding for autopsies and maintaining enough forensic pathologists.

• Journal of Plant Biotechnology
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• v.33 no.3
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• pp.171-184
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• 2006

According to ISAAA report, the global area of genetically modified (GM) crops increased more than 50 fold during the ten-year period from 1996 to 2005 with a sustained double-digit growth rate of 10%. This biotechnology adoption is one of the highest rates of technology adoption in agriculture history and this phenomenon indicates that the industrial value of the GM crops is highly perspective. In addition, the year 2010, 60% of cereal seeds in the global market would be GM or biotechnology related seeds so that the GM crop regards as the second green revolution that could provide a huge impact to food and agriculture. Nevertheless, there has not been any GM variety ever successfully commercialized in Korea and even none of the GM crops has ever been approved for safety testing by risk assessment. This seems that Korean agriculture industry might be indeed lost in the war of future seed market. However, lots of evidence show that Korean scientists have established advanced technologies and protocols to develop GM crops for last 20 years. Actually there have been many cases of successful transformation of crops that were previously known very difficult in transforming. Therefore, Korean agbiotechnology arena firmly holds an infrastructure for developing GM crops with a superior technology. Then what were the problems? Why has even a single GM crop not been commercialized in Korea? The tardiness shown by business in adopting the GM crop is caused by many factors: academical weakness, poor research funding, short knowledge of risk assessment, public concern, no successful experience, lack of professional leaders on GM variety development, lack of systems toward industrialization and inappropriate target transgenes from the beginning. In order to catch up in the race for the new green industry, each one of us in private sectors alongside academia and national research institutes needs to focus altogether on what can be done best in terms of choosing crops, investing fund and establishing a road map for commercialization of GM crops.

• Journal of Technology Innovation
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• v.24 no.4
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• pp.55-99
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• 2016

The paper investigates X-project, in which the public was invited to participate in a national R&D project, examines how X-project attracted the public's attention and involved them in a national R&D project, and discusses the significance and limitations of X-project. X-project was executed by a 12 citizen-led committee, financially supported by the Ministry of Science, ICT, and Future Planning, and backed by the Science and Technology Policy Institute. People raised 6,212 questions that reflected the severe needs they experienced in their daily lives through the online and offline platforms of X-project. In addition, the committee members, scholars, experts, government officials, and citizens gathered together to select the fifty most provocative and novel of the questions raised by the public, and invited public participation to answer the questions in innovative ways. 310 research teams including professional researchers from universities and institutes, high-school students, lay persons, and corporate workers applied for X-project, and 54 of these teams were finally selected to receive funding from the government. Through planning and conducting X-project, as well as interviewing and surveying the participants in X-project and non-participants, we found that there was an enormous social consensus on the necessity of public participatory national R&D projects. People asserted that science and technology should put a greater focus on solving social problems and satisfying public needs. We also confirmed that the public could take part in national R&D projects. Most of all, we found that the questions raised by the public were very challenging, novel, and complex, and thus researchers need break-through approaches to address them. It can be also argued that through experiencing the X-project citizens can regard themselves as ones who are not only recipients of the benefits of the development of science and technology, but also contributors of the development of them. We finally argue that there are some limitations to X-project in terms of how to provide diverse incentives that attract more participation, how to develop the process in which people got involved in the project in more easy ways, and how to create new ways for lay persons and professional researchers to cooperate in solving social problems.

• Journal of Technology Innovation
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• v.22 no.4
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• pp.235-259
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• 2014

New product or new technology developments are directly linked to a firm's survival and thus their performance and improvement are gaining attention in the midst of rapidly changing business environment and aggravating competition. However, despite SMEs' significance in the national economy, they are limited in terms of size and resources in possession, so the government provides a variety of supports as a policy. According to a study on the organizational life cycle, a firm's limits and difficulties differ by growth stage, so the supports need to be tailored. Based on the data from 2,575 firms that responded to the "2011 SMEs Technological Statistics," how technological capability level and deviation in the R&D process affect the R&D sales performance was studied. The result of analysis revealed that the technological capability has a positive impact on the R&D sales performance. It was also learned that the relationship between deviation in the technological capability and R&D sales performance was moderated by the government support. For the hypothesis that the government support would have a different moderating effect by growth stage for the impact the technology level has on the R&D sales performance, the empirical analysis showed a different meaningful moderating effect for each growth stage. The theoretical implications of the study are that, instead of a simple relation of dynamics that does not take the growth stages into account, it suggested a more realistic causal relationship model that reflects the complex environment the SMEs are in and that the need for measuring and using the deviation in technological capability as a research variable has been justified. The practical implications are that the government policy for supports can be tailored to a growth stage and that the guidelines have been suggested to effectively use the government funding by encouraging the SMEs in a different growth stage to adapt to the customized policy.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.1
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• pp.59-70
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• 2020

This study was proceeded to empirically identify the start-up support policy as an element that affects the performance of the early start-ups and measure the effectiveness of the current start-up support policy, in order to suggest the direction future policies according to the study. To accomplish this the influence of the start-up support policy on the early start-ups was analyzed, and the differences according to the industry and growth stage of the start-ups, as the characteristics of the start-ups, were identified. The research subjects collected real data of 297 start-ups of the past three years that were selected for the Initial Start-Up Package project, and performed multiple regression analysis on the influence between variables, and hierarchical regression analysis on moderating effects. The summary of the study is as follows. First, as a result of identifying the influential relationship between the start-up support policy and the performance of the start-up, sales had made a significant impact on the start-up fund, start-up mentoring, and start-up infrastructure(space), while start-up education failed to show a significant effect on the increase in sales. In terms of employment, start-up mentoring was the only field that showed a significant influential relationship. Second, as a result of identifying the moderating effect of the start-up's industry and growth stage, the industry did not have a statistically significant influence, but the interactive effect was seen in start-up education. To be more specific in terms of the sales relationship of each industry, knowledge services turned out to be helpful in improving sales, while manufacturing turned out to be effective in improving sales regardless of being supported with start-up mentoring and start-up infrastructure (space). The sales relationship regarding the start-up growth stage was identified to be statistically significant. The preliminary stage was not statistically significant, while providing start-up mentoring and start-up funding were effective for start-up stage and growing stage, respectively. On the other hand, employment did not perform a significant influence on the start-up growth stage. This study analyzes the effectiveness the start-up support policy for early start-ups, identifies the need in differentiated support policies according to the characteristics of the start-ups, and suggests implications for the direction in which future policies should be made towards.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.14 no.1
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• pp.151-166
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• 2019

New drug development requires 10 to 15 years of long time and more than $ 1 billion in funding, ranging from basic research${\rightarrow}$preclinical medicine${\rightarrow}$clinical medicine${\rightarrow}$product approval${\rightarrow}$sales. Many new drug development bio-venture companies will continue to pursue new drug development with funds secured through listing on the securities market. This study focuses on the impact of the listing on the market of bio-venture companies in the development of new drugs. It is necessary to determine whether the increase in registered patent, preclinical, clinical and technology transfer contracts at the time of listing (D) The results of this study are as follows. We also analyzed whether the registered patent, preclinical, and clinical effects had significant effect on technology transfer contracts at two years after listing and listing. The results of the analysis are as follows. First, Korea's new drug development bio-venture firms increased their registered patents but did not increase their pre-clinical, clinical and technology transfer contracts. Second, at the time of listing and two years after listing, pre-employment has a significant effect on Korea's technology transfer contracts and has a significant effect on overseas technology transfer contracts. However, registered patents and clinics have significant influence on technology transfer contracts. Korea 's new drug development bio-venture firms showed patent increase despite the stock market listing, but pre-clinical, clinical and technology transfer contracts did not increase. In order to strengthen technological commercialization of new drug development bio-venture companies in the future, it is required to establish R & D strategy for efficient use of IPO subscription funds, open innovation through strengthening industry-academia-partnerships, and more sophisticated preclinical and clinical strategy establishment.