• Asia pacific journal of information systems
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• v.19 no.2
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• pp.139-155
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• 2009

For the last few decades, many studies have tried to explore and unveil venture companies' success factors and unique features in order to identify the sources of such companies' competitive advantages over their rivals. Such venture companies have shown tendency to give high returns for investors generally making the best use of information technology. For this reason, many venture companies are keen on attracting avid investors' attention. Investors generally make their investment decisions by carefully examining the evaluation criteria of the alternatives. To them, credit rating information provided by international rating agencies, such as Standard and Poor's, Moody's and Fitch is crucial source as to such pivotal concerns as companies stability, growth, and risk status. But these types of information are generated only for the companies issuing corporate bonds, not venture companies. Therefore, this study proposes a method for evaluating venture businesses by presenting our recent empirical results using financial data of Korean venture companies listed on KOSDAQ in Korea exchange. In addition, this paper used multi-class SVM for the prediction of DEA-based efficiency rating for venture businesses, which was derived from our proposed method. Our approach sheds light on ways to locate efficient companies generating high level of profits. Above all, in determining effective ways to evaluate a venture firm's efficiency, it is important to understand the major contributing factors of such efficiency. Therefore, this paper is constructed on the basis of following two ideas to classify which companies are more efficient venture companies: i) making DEA based multi-class rating for sample companies and ii) developing multi-class SVM-based efficiency prediction model for classifying all companies. First, the Data Envelopment Analysis(DEA) is a non-parametric multiple input-output efficiency technique that measures the relative efficiency of decision making units(DMUs) using a linear programming based model. It is non-parametric because it requires no assumption on the shape or parameters of the underlying production function. DEA has been already widely applied for evaluating the relative efficiency of DMUs. Recently, a number of DEA based studies have evaluated the efficiency of various types of companies, such as internet companies and venture companies. It has been also applied to corporate credit ratings. In this study we utilized DEA for sorting venture companies by efficiency based ratings. The Support Vector Machine(SVM), on the other hand, is a popular technique for solving data classification problems. In this paper, we employed SVM to classify the efficiency ratings in IT venture companies according to the results of DEA. The SVM method was first developed by Vapnik (1995). As one of many machine learning techniques, SVM is based on a statistical theory. Thus far, the method has shown good performances especially in generalizing capacity in classification tasks, resulting in numerous applications in many areas of business, SVM is basically the algorithm that finds the maximum margin hyperplane, which is the maximum separation between classes. According to this method, support vectors are the closest to the maximum margin hyperplane. If it is impossible to classify, we can use the kernel function. In the case of nonlinear class boundaries, we can transform the inputs into a high-dimensional feature space, This is the original input space and is mapped into a high-dimensional dot-product space. Many studies applied SVM to the prediction of bankruptcy, the forecast a financial time series, and the problem of estimating credit rating, In this study we employed SVM for developing data mining-based efficiency prediction model. We used the Gaussian radial function as a kernel function of SVM. In multi-class SVM, we adopted one-against-one approach between binary classification method and two all-together methods, proposed by Weston and Watkins(1999) and Crammer and Singer(2000), respectively. In this research, we used corporate information of 154 companies listed on KOSDAQ market in Korea exchange. We obtained companies' financial information of 2005 from the KIS(Korea Information Service, Inc.). Using this data, we made multi-class rating with DEA efficiency and built multi-class prediction model based data mining. Among three manners of multi-classification, the hit ratio of the Weston and Watkins method is the best in the test data set. In multi classification problems as efficiency ratings of venture business, it is very useful for investors to know the class with errors, one class difference, when it is difficult to find out the accurate class in the actual market. So we presented accuracy results within 1-class errors, and the Weston and Watkins method showed 85.7% accuracy in our test samples. We conclude that the DEA based multi-class approach in venture business generates more information than the binary classification problem, notwithstanding its efficiency level. We believe this model can help investors in decision making as it provides a reliably tool to evaluate venture companies in the financial domain. For the future research, we perceive the need to enhance such areas as the variable selection process, the parameter selection of kernel function, the generalization, and the sample size of multi-class.

• Asian Oncology Nursing
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• v.3 no.1
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• pp.24-44
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• 2003

The purposes of this study was to identify and propose the expected role of the oncology nurse specialist by embodying role theory to oncology nurse specialist. The subjects of this study were 149 persons in 14 hospitals, who were classified to 4 groups, oncology nurse specialists(ONS) group, head nurses and charge nurses(HN & CN) group in hemato-oncology ward, registered nurses(RN) group in hemato-oncology ward, and hematologists & oncologists(H&O) group. The questionnaire which was consisted of 89 items for role of oncology nurse specialist, was made by researcher with a field study and literature review about role of oncology nurse specialist and verified by matrix delphi technique about content validity and construct validity. The data were collected from October 22, 2002 to November 5, 2002. All 4 groups proposed that ONS should perform an expert practitioner role first of all. But ONS group, RN group and H&O group proposed orderly expert practitioner, educator, researcher, consultant, and administrator & change agent, but HN & CN group did expert practitioner, educator, consultant, researcher, administrator & change agent. Expert practitioner had the most highest necessary degree in all groups and most highest performance degree in ONS group. That was consistent with results that all groups proposed role of expert practitioner at first. 4 items out of 20 items showed the meaningful differences between groups. For role of educator, oncology nurse specialist group proposed necessary degrees over 4.0 point out of 5.0 in all items. 4 items out of 18 items showed the meaningful differences between groups. For role of researcher, 3 nurses groups proposed a high necessary degree, but performance of ONS group was most lowest among 5 roles. 6 items out of 14 items showed the meaningful differences between groups. The role of consultant had high necessary degree in some items related to hematopoietic stem cell transplantation. 2 items out of 17 items showed the meaningful differences between groups. In nursing behaviors of administrator & change agent, those items about enacting principle, cost development and participation of professional academy had a high necessary degree. 4 items out of 18 items showed the meaningful differences between groups. Oncology nurse specialists group performed 5 roles orderly, expert practitioner, consultant, educator, administrator & change agent, researcher. This result was different from expected role of themselves as well as the other groups. There was a different necessary degree between role and embodied nursing behaviors of role. ONS group and RN group proposed orderly educator, researcher, administrator & change agent, expert practitioner, consultant, but the other groups did educator, expert practitioner, researcher, consultant, administrator & change agent. The expected standards of oncology nurse specialist in this study were usually master's degree, total career of 5-7 years, oncology career of 3-5 years and certification. But for the post, qualification and qualification institution, various opinions were suggested. In the conclusion, there was a different necessary degree between role and embodied nursing behaviors of role. All groups proposed expert practitioner at first in abstract role, but educator at first in embodied nursing behaviors of role. So we have to consider this difference carefully in the future research. ONS acted the role of expert practitioner first of all, but we should develope and expand the roles of researcher, and administrator & change agent. We should enact roles by role behaviors induced from mutual agreements in necessary degree and performance degree, and bargain the role behaviors that showed the meaningful differences between groups But, we should consider carefully which group's opinion we have to select. I suggested 36 items out of 89 items, in which ONS proposed necessary degree over 4.0 out of 5.0 and half of them performed as the nursing behaviors of oncology nurse specialist that did not induce role stress. For the future, We should role bargain the role with other groups based on these items.

• The Korean Nurse
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• v.29 no.4
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• pp.51-72
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• 1990

The purpose of this study was to determine whether Severance Hospice Home Care Pro gram was able to meet its objectives. This was done in order to show in detail the effects of hospice home care on the quality of life of terminally ill patients and to provide rationale for setting up more hospice home care programs in korea. The results of the study were as follows: The subjects of the study were 100 terminally ill patients who hnd died 'while in the hospice program and 64 family members who were registered with Severance Hospice Home Care Program between march 1988 and Feb. 1990. The nursing needs of these terminally ill patients were assessed by the nursing records of these patients. The need for pain control(82%) was the highest nursing need so far as the physical aspects were concerned. This was followed by poor appetite(37%), 8 dyspnea(34%), nausea and vomiting(30%) in that order of frequency. In reqard to spiritual needs, the need for religious' support was also high at 72%. Their main psychological symptoms were anxiety and fear(34% ). Burn-out was a major problem for 44% of the family members. The psychological process experiencel by the terminal ill patients was compared to the dying process, described by Kiibler Ross. In comparison of the five stages outlined by kubler Ross with the dying process of the subjects it was found that the subjects not only experienced the five stages but also experienced denial and doubt-fulness or denial with acceptance or acceptance with the expectation of a miracle. But rather than acceptance of the dying process, giving up was a frequent end point of the psychological process, of the subjects. However, when the combination of states was observed, most of the patients reached the state of acceptance in the dying process. It was difficult to identify a definite pattern of change in the psychological process of the subjects. Also it was difficult to identify the factors that influenced the psychological process. The symptoms of the terminally j]] subjects just before dying, that is, 3-4 days before dying included apparent signs of dying. These were a reduction of intake(77%), reduction of the amount of urination(63%), increase in sleeping time (64%) and acceptance of dying by patients and their families who had been unaccepting be before that time(66%). The primary care givers(family member's) degree of satisfaction with the care given to the patient by the hospice was 88.7%. The results of this study show that Severance Hospice Home Care Program had a positie effeet on the quality of life of the terminally ill patients and their family members as they faced the death of the patient. It can be seen from this study that there is an urgent need to extend hospice programs - in order to provide quality of care for terminally ill patient and their families. Based upon the reesults of this study several suggestions are presente as follows: 1) A follow up study should be carried out to identify the dying process as it is unique to Korea. 2) A comparison should be made of other hospice care programs. 3) A comparison study should- be made with subjects who do not receive any hospice care as compared to those who do by use of an experimental and control group methodology. 4) There is a need to determine a scientific method to adequeto measure the interventions carried out to meet the hospice patients nursing care needs. 5) A study should be made using quality research methodology to evaluate effects of hospiec care from the patients, their family members and the nurrse's perspective.

• Journal of the Korean Society of Costume
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• v.33
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• pp.117-142
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• 1997

This study is on perfume case that is one of a great number of ornaments which was designed by out ancestors. We had developed the tradition and the history of perfume case bag fan-weight etc. These have the same function as the present perfume. case. There were basket-shaped perfume cases which were the smellest one among the personal girdle ornaments in the silla era. The various patterned perfume case were made of gold metal coral platinum or green jadeite etc. In the single-crop trinkets a embroidered perfume bag with the gold and silver thread whose forms perfectly match their functions appeared during the Yi Dynasty. There was also a perfume bag which was one of the daily necessities. A precious "jul perfume" was carried by noble women. A fan-weight perfume bag was attached to the fan to emphasize the intrinsic beauty of utility and function. It is necessary to know the function of prefume case. As perfume case is weared on the clothes it was given more decorative effects as well as the function of medicinal amulet with a sweet smell. Therefore it is very important for us to study perfume case that has various function as an ornament. So The purpose of this study is to investigate the practical and decorative side of perfume case with the general examines of perfume finding how to practice use through our life. The results were as follows; 1. The first use of perfume is perfume through smoke which is for ceremony of religion It removes human body odor by degrees and spreads a sweet odor. Also the materials for making perfume of early age is aromatic plants which will be used flour-made flowers stems. As the materials for making perfume use is increasing today we can invent alcohol perfume today 2. Our country the custom of perfume-used is wide. Among them men's perfume-used was very special phenomenon. For example men were wearing perfume bag in the Silla era. Because perfume represented wealth and noble in those days. They shew off social position personality through perfume-used. 3. One of early religion ceremony article there was the perfume. And perfume case was means for containing perfume. Gradually the perfume case was used widly as increasing needs of perfume in human life. 4. In the middle period of 'Koryo' Dynasty perfume cases had a close relationship with clothes but after Mongolian has been attacked 'Koryo' there were changes in wearing clothes therefore the position of perfume cases were transfered to coat string that was the origin of decoration style that they began. That is to say the perfume case has been influenced the position of perfume case shapes with changing of fashion. 5. The perfume case has been made manifest various function as an ornament. In the practical side First medical-perfume in perfume case has been played an important role in first-aid medicine in critical condition. Second it was amulet for self protection. That is the shape pattern color materials perfume of the perfume case was represented the amuletive nature. Third it was used as substitute article of perfume. Modern women use liquid-perfume as our ancestors used perfume case bag or jul perfume As started above. Also In the decorative side the perfume case has a beautiful formative arts by itself as well as a close relationship with clothes. That well as a close relationship with clothes. That is when the perfume case is worn on the clothes costume is showed aesthetices. That is the materials shapes color pattern of the perfume case we can see the visual beauty also the materials colors embroidered pattern knots tassel that are used the perfume case are increased the decorative beauty of costume. Sixth the symbol in pattern of the pattern case is shown ancetor's wealth and rank health longevity immortality many-born-boy in those days. Today the perfume case is not used with changing of costume by degrees, Accordingly I hope that the result of this study is an influened in devlopment of the perfume case design with matching the modern fashion.

• Journal of the Korean Institute of Traditional Landscape Architecture
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• v.32 no.3
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• pp.46-57
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• 2014

This study contemplated the gardening culture from the pictures, which the scholars of late Joseon Dynasty, the aspects of garden landscapes and garden use behaviors are drawn as follows. 1. The yard by the detached house for men and guest in front of the premises(Sarang Madang) and backyard were the major places for Ahoi(social gatherings of the scholars). The mansions had interests in the management of the outer garden beyond the house wall with building structures like the pavilions on the high walls and side gates. This management and the selection of location anticipating in advance of the management are noteworthy. 2. Only house gardens had plant pots with flowers and the small flower bed(Hwa-O) at Sarang Madang occasionally had plant pots without flowers and oddly shaped stone pots and equipped pine branch eaves and traditional awnings made of plant material like a trellis. 3. The oddly shaped stones were significant landscape elements in the gardens of houses and villas. Some of them were depicted as the Taihu stone and this draws attention to the question of whether the Taihu stone was actually used in the garden of late Joseon Dynasty. 4. The gardens in villas accommodated the borrowed scenery with various materials like wooden fences, bamboo or reed fences, mud walls. They also had the artificial gardens with some odd shaped stones, old pines, bamboos, Japanese apricots, willows, paulownia trees, lotuses and plantains in the secured Madangs. 5. Gyeong Hwa Sa Jog(The scholars of the ruling class adapted to the 18th century's new historical aspect) of late Joseon Dynasty built the villas at the beautiful scenery closed to the their houses. 6. The Gardens around pavilions were located high closed to the mountain streams with nature like beautiful forests, oddly formed rocks, precipitous cliffs and viewing stones. The back side of the pavilion was enclosed by bamboo forests and the front had pines, ginkgoes and willows as shade trees. 7. The beautiful scenery which was preferred as the place for Ahoi was basically with fantastic peaks and precipitous cliffs which forms the distant view harmonized with a waterfall. Broad and flat rocks at the summit of a mountain which commands a bird's-eye view or on a mountain streamside with pine forest, willows and plum trees were chosen as the optimal places for Ahoi. 8. Pine trees were presumed to be more preferable than other species in the garden, especially an single planted old pine tree accented symbolism. 9. Portable tea braziers for boiling tea were adopted in all four types of the gardens. 10. The gardens mixed with auspicious landscape elements were the places of the arts for an unworldliness Ahoi through GeumGiSeoHwa(enjoying strings, go, writing and painting) and boiling tea.

• The Journal of Korean Medicine
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• v.31 no.1
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• pp.81-92
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• 2010

Objectives: The objective of this study was to assess bra in activation and difference by LI11 or ST36 acupuncture stimulation using functional MRI (fMRI). Methods: A total of 10 healthy right-handed volunteers were studied. LI11 acupuncture and ST36 acupuncture stimulations were applied in order on the left. The block design paradigm of RARARA was used for the task, with R representing rest and A representing stimulation, and each period lasted 30 seconds. fMRI data were analyzed using SPM2. Results: The left LI11 acupuncture stimulation activated both sides of the inferior parietal lobule, the left side of the extra-nuclear, culmen and inferior semi-lunar lobules. On the right side, the nodule and midbrain regions were activated by the left LI11 acupuncture stimulation. The left ST36 acupuncture stimulation activated the right side of the superior frontal gyrus, middle frontal gyrus, superior parietal lobule, inferior semi-lunar lobule and pyramis. On the left side, the sub-gyral, middle temporal gyrus, fusiform gyrus, supramarginal gyrus, extra-nuclear, cingulate gyrus and fastigium regions were activated by the left ST36 acupuncture stimulation. Besides, both sides of the paracentral lobule, inferior parietal lobule, culmen, cerebellar tonsil and midbrain regions were activated. Conclusions: In conclusion, brain signal activation patterns according to acupoints were observed to differ, and ST36 acupuncture stimulation activated more regions than LI11. It is supposed that LI11 and ST36 acupuncture stimulations have an influence on motor function and sensory aphasia, and these stimulations thus represent potential for ocular motor dysfunction, discriminative touch or position sense disorder. Moreover, ST36 acupuncture stimulation activated the cingulate gyrus of the limbic system, so it seems to have an influence over autonomic functions.

• Journal of the Korean association of regional geographers
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• v.6 no.3
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• pp.53-81
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• 2000

The purpose of this study is to examine the chracteristics of the location of Zen Buddhist temples which are the Nine-Mountain Sects of Zen(九山禪門) from feng-shui perspective. A large number of temples have been built for about 1600 years since Buddhism had influenced on Korea. They have been built nationwide in different times by different sects of Buddhism. The pattern of location of Buddhist temples is different according to background of the times (political, economic, cultural aspect) and of tenet(difference in sects of Buddhism) when the temples were built. But the general location of Korean Buddhist temples is in accordance with feng-shui theory. Feng-shui is a traditional geographic thought in China and Korea. It is necessary to understand feng-shui in order to understand Korean landscape and cultural geography. It had given a tremendous impact on Korean landscape through choosing site of cities, settlements, houses, mounments, temples, pagodas, and so on. Before feng-shui was prevailing in Korea, Buddhist temples were mostly built on sacred place which was connected with folk beliefs. In the case of the late Silla Dynasty when Zen Buddhism was prevailing, feng-shui became popular and many. temples were built in accordance with feng-shui. The typical examples are found in the site of Nine-Mountain Sects of Zen temples. The interpretation of geomantic site of Nine-Mountain Sects of Zen temples will show us how feng-shui was applied to and reflected in the Korean peninsula. In Zen Buddhism, feng-shui was applied to the choice of the temple site. Also feng-shui theory was usually used to choose the site of stupa(Budo) where the remains of the founder of sect. In this study, I will interpret the geomantic characteristics of Nine-Mountain Sects of Zen temples. The geomantic interpretations of the temples are as follow. 1. The temples are located at the foot of a hill with surrounding mountains and a watercourse in front. Feng-shui texts often describe it as an ideal site. This geomantic situation is well equipped with natural drainage; protection from cold wind from the north or evil spirits; a good view with open space to the front; protection from unnecessary weather damage; and security and protection from strangers and invaders. 2. The sitting and facing direction of the temples correspond to the oncoming dragon's direction. 3. Many feng-shui texts discuss the types of Sa(surrounding mountains) in detail and morphologically describe them with certain animate and inanimate auspicious objects. In case of Nine-Mountain Sects of Zen temples, the geomantic landscape of these can be compared to auspicious objects. This is morphological marker for the description of configulation features of these temples. 4. Most auspicious places are not perfect, but the shortcomings can be overcome by many means. We can observe modification of landscape for the purpose of fulfilling the geomantic harmony of the temple.

• Cartoon and Animation Studies
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• s.49
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• pp.25-52
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• 2017

As the expansion of the cultural industry expands, various competitive structures are formed and the methodologies for producing commercial success are being discussed. Among them, Hollywood studios use political relationships and apply ideologies that can produce the best interests. Also, they use a structure that can convey this ideology, which is a mythology. The myth has satisfied the public for a ling time. Campbell suggested that strategies come from the myth, and the ideology emerged as a result of what mythology has to do with existing powers. Disney and Dream Works use the mythology and combine their own values into ideology. Disney and Dream Works choose conflicting ideologies in a different growth background. If Disney is recognized as an educational animation by the ruling class, Dream Works are supported by the public for their actions against Disney. Disney has conservative and patriotic personality, Dream Works is more liberal and progressive. Disney's structure came out first, and Dream Works parodied it. So we can compare Disney and Dream Works with similar myths to create a storytelling structure that embodies ideology. As a result, Disney and Dream Works have been choosing the 9 stages the key of Ideology form the 17 stages of the mythology and reduced them to the introduction, growth and completion. In the first units of the introduction, Disney dealt with the subject of social leaders who sacrificed to the ruling class and Dream Works hinted at the overthrow of the ruling class through the irony. If Disney had deployed colored races in the main characters, Dream Works used a variety of races from the main characters to others. In the second units of growth, Disney organized the process of accepting the value of the ruling class, and Dream Works showed the individual values, not the values of society. In the third units completion, Disney showed the main character who live in the world of the ruling class rebuilded, and Dream Works removed the ruling class and went back to the Individual life. Through the structure of Disney and DreamWorks, we learned how to utilize the mythical structures that transform according to ideologies. The right way to organize works will require the strategic approach to storytelling.

• The Korean Journal of Pesticide Science
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• v.16 no.3
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• pp.217-221
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• 2012

This study was carried out to evaluate residual characteristics of tolclofos-methyl in ginseng and elucidate the reason for its high detection rate from fresh ginseng selling at markets. Seeds of ginseng were sowed after seed dressing with tolclofos-methyl and after a year of growth, the young seedlings were transplanted to field. They were then harvested annually until three-years of growth and the pesticide residue was analyzed in them. LOD and LOQ of the pesticide were 0.001 and 0.003 mg/kg, respectively. Recovery test was carried out to validate the analytical method for tolclofos-methyl in ginseng. The ginseng seedlings were fortified with the test pesticide at the level of LOQ, ten times of LOQ and maximum residue concentration of tolclofos-methyl. Its recovery ranged from 77.37 to 100.16%. Residual concentration of tolclofos-methyl in ginseng seedlings just before transplanting and two-year-old ginseng were from 7.58 to 8.05 and from 6.46 to 6.79 mg/kg, respectively. In case of three-year-old ginseng, it was found to be from 4.18 to 4.35 mg/kg. As a result of annual pesticide residue analysis, concentration of the pesticide was found to decrease time-coursely in ginseng. This may be due to decomposition and increasing of fresh weight of the ginseng during the cultivation periods of three years.

• Asia pacific journal of information systems
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• v.18 no.4
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• pp.57-81
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• 2008

Knowledge is an essential strategic weapon for sustaining competitive advantage and is the key determinant for organizational growth. When knowledge is shared and disseminated throughout the organization, it increases an organization's value by providing the ability to respond to new and unusual situations. The growing importance of knowledge as a critical resource has forced executives to pay attention to their organizational knowledge. Organizations are increasingly undertaking knowledge management initiatives and making significant investments. Knowledge sourcing is considered as the first important step in effective knowledge management. Most firms continue to make an effort to realize the benefits of knowledge management by using various knowledge sources effectively. Appropriate knowledge sourcing strategies enable organizations to create, acquire, and access knowledge in a timely manner by reducing search and transfer costs, which result in better firm performance. In response, the knowledge management literature has devoted substantial attention to the analysis of knowledge sourcing strategies. Many studies have categorized knowledge sourcing strategies into intemal- and external-oriented. Internal-oriented sourcing strategy attempts to increase firm performance by integrating knowledge within the boundary of the firm. On the contrary, external-oriented strategy attempts to bring knowledge in from outside sources via either acquisition or imitation, and then to transfer that knowledge across to the organization. However, the extant literature on knowledge sourcing strategies focuses primarily on large organizations. Although many studies have clearly highlighted major differences between large and small firms and the need to adopt different strategies for different firm sizes, scant attention has been given to analyzing how knowledge sourcing strategies affect firm performance in small firms and what are the differences between small and large firms in the patterns of knowledge sourcing strategies adoption. This study attempts to advance the current literature by examining the impact of knowledge sourcing strategies on small firm performance from a holistic perspective. By drawing on knowledge based theory from organization science and complementarity theory from the economics literature, this paper is motivated by the following questions: (1) what are the adoption patterns of different knowledge sourcing strategies in small firms (i,e., what sourcing strategies should be adopted and which sourcing strategies work well together in small firms)?; and (2) what are the performance implications of these adoption patterns? In order to answer the questions, this study developed three hypotheses. First hypothesis based on knowledge based theory is that internal-oriented knowledge sourcing is positively associated with small firm performance. Second hypothesis developed on the basis of knowledge based theory is that external-oriented knowledge sourcing is positively associated with small firm performance. The third one based on complementarity theory is that pursuing both internal- and external-oriented knowledge sourcing simultaneously is negatively or less positively associated with small firm performance. As a sampling frame, 700 firms were identified from the Annual Corporation Report in Korea. Survey questionnaires were mailed to owners or executives who were most erudite about the firm s knowledge sourcing strategies and performance. A total of 188 companies replied, yielding a response rate of 26.8%. Due to incomplete data, 12 responses were eliminated, leaving 176 responses for the final analysis. Since all independent variables were measured using continuous variables, supermodularity function was used to test the hypotheses based on the cross partial derivative of payoff function. The results indicated no significant impact of internal-oriented sourcing strategies while positive impact of external-oriented sourcing strategy on small firm performance. This intriguing result could be explained on the basis of various resource and capital constraints of small firms. Small firms typically have restricted financial and human resources. They do not have enough assets to always develop knowledge internally. Another possible explanation is competency traps or core rigidities. Building up a knowledge base based on internal knowledge creates core competences, but at the same time, excessive internal focused knowledge exploration leads to behaviors blind to other knowledge. Interestingly, this study found that Internal- and external-oriented knowledge sourcing strategies had a substitutive relationship, which was inconsistent with previous studies that suggested complementary relationship between them. This result might be explained using organizational identification theory. Internal organizational members may perceive external knowledge as a threat, and tend to ignore knowledge from external sources because they prefer to maintain their own knowledge, legitimacy, and homogeneous attitudes. Therefore, integrating knowledge from internal and external sources might not be effective, resulting in failure of improvements of firm performance. Another possible explanation is small firms resource and capital constraints and lack of management expertise and absorptive capacity. Although the integration of different knowledge sources is critical, high levels of knowledge sourcing in many areas are quite expensive and so are often unrealistic for small enterprises. This study provides several implications for research as well as practice. First this study extends the existing knowledge by examining the substitutability (and complementarity) of knowledge sourcing strategies. Most prior studies have tended to investigate the independent effects of these strategies on performance without considering their combined impacts. Furthermore, this study tests complementarity based on the productivity approach that has been considered as a definitive test method for complementarity. Second, this study sheds new light on knowledge management research by identifying the relationship between knowledge sourcing strategies and small firm performance. Most current literature has insisted complementary relationship between knowledge sourcing strategies on the basis of data from large firms. Contrary to the conventional wisdom, this study identifies substitutive relationship between knowledge sourcing strategies using data from small firms. Third, implications for practice highlight that managers of small firms should focus on knowledge sourcing from external-oriented strategies. Moreover, adoption of both sourcing strategies simultaneousiy impedes small firm performance.